Indianapolis Times, Indianapolis, Marion County, 29 March 1937 — Page 13

Page PDF (11.39 MB)

Back to issue view

Milk Price Fixing

ren

RR i CII TARE: 8

Abreast of- The Times

inance

MONDAY, MARCH 29,

1937

PAGE 13

New Curb

The London Curb Exchange, first in the city's history, is to open between May 1 and May 15, ing to plans of the organi: bership is to be international,

Exchange

accord-

ers and directors. Mem-

Latest Failure Flynn Says.

By JOHN T. FLYNN

EW YORK, March 29.—the dream of the harassed busihess man is a world in which prices of his product are fixed and, of course, fixed high enough to allow him ample profit. And S0 in every country experiment after experiment with this fragile dream has been tried and always With the same result—utter failure. The amazing thing, however, is that this never seems to deter the dreamers. They £0 oh vear after year with new schemes, new devices for fixing prices and new hopes for their success. The latest experiment to come to woe is the experiment of price fixing of milk in New York State. At the time of the NRA and AAA and when the whole force of the recovery philosophy was for price-fixing, under a state Milk Control Law an elaborate attempt to fix milk prices and induce people to buy milk at those prices was tried by a state commission, y =»

OW a special investigating committe of the State Senate reports that the law has been a failure and, what is more to the purpose, that it is unenforceable. The experimeners were told that freely when the experiment started. But of course they would not listen. And furthermore, this failure will not prevent an attempt in a year or two to do the same thing over again, Of course raising prices for milk at a time when everybody's income was low naturally cut the sale of milk, The state met that hv spending $250,000 in a single year advertising milk. Of course at the bottom of this failure is the old story—competi=tion and bootlegging always get in motion in some new form. Milk poured in frem other states and it became humanly impossible to police the enforcement of the law, n ” n 'N the great metropolitan areas . the business of the leading distributors somehow slipped away from them to dealers who sold helow the price. Now they feel the only way they can get their customers back is to be permitted to go after them in the good old-fash-ioned way—by meeting the price. Elaborate controls were attempted to reduce production in order to make price-raising easier. Instead, the high prices invited into - the market immense supplies from states which never sold milk in New York and the market was more flooded with milk than ever, So now most of the leading distributors are asking for repaal of the law, But—and here is the eternal milk in the hoping coconut— the committee recommends that milk producers be exempt from the antitrust laws, For what? To enable them to control production and prices, of course. Which is the very thing which has so signally failed. Thus out of the very ashes of failure arise the expectations of a new attempt to do the same thing over again. (Copvright, 1937.

Fruits and Vegetables

(Quotations below, subject to change, are average wholesale prices being offered to buvers by local commission dealers.) Fruits—Pears, California Avocados, 20s-245-305, box $3.50, Bananas, selected, 1b, Se. AD] les, } 1 Staymans, 2'z $2.25; Ro. Jonathans, 2's»' inches up, $2.25; No. r Ss. 2%. ‘inches wp, $2. Lemons, Sunkist, 360s; $7.50. Limes, Mexican, carton, 12s, 2& Grapefruit, Texas seedless, 64s-80s, $3.25. Oranges. California, Sunkist, navels, [email protected], Pine- | apples. . crate, $5, Strawberries, Flor20c.

ids, pt... 2 Vegetables — Beans. Florida hamper, $4, Beets, homegrown, new Texas, 3-doz. Ne Broccoli, California, case, $3.25; , 15¢, Brus- | sels Sprouts, per drum. . 20c. Cab- | "90c: new California,

bage, New Texas, old bulk. i " Caulifiower, 11s-12s. crate, $1.75 'v, Mammoth, doz., 85c: Florida, 45-88-1058 fiate. $3.75. a hothouse, doz., $1.25. Chives, $1.15. Fgg Plant, Florida. doz.. Virginia, bu., $85. Lettuce, 75s. $6; 3 $6: leaf. hothouse, No Peppers, Mangoes, No, 1s, : 'doz., 40c. Mushrooms, home- | Ib, 30c. Onions, Indiana yellow, bag. $1.40; Western Spanish, large, Parsley, homegrown, doz, 35c. homegrown, 'a2 bu. ¢ Peas, , $4.75. Potatoes. Maine 100-1b. bag, $3.10; Idaho Michican Rurals, $2.60: Colorado McClures, $3.65; Florida New Triumphs, 50-l1b., box, $2.40. Rutabagas. Canadian, waxed and tagged. $1.10. Sweet Potatoes, Tennessee, Nancv Halls, hamper, $2. Radishes. buttons, hothouse, doz.. 65c: white, 40c. Rhubarb, hothouse. No. 1 5-1b. carton, 60e. Sage, doz. 45c. Spinach, Texas, bus. $1.15. Shallots. doz. 45c. Squash, Hubbard, bu., $1.50. Turnips. bhu., $1.25. Tomatoes, repacked, 10-1b. basket. $1.50.

Mr. Flynn

NEA Service, Inc.)

stringless. bu., $1:

Carrots.

doz.,

Iceberg. Ari-

grown, 50-1b. £1.90. Parsnips, Mexican, hamper Green Mountains, Russets, $3.75:

(By United Press)

CHICAGO, March 29.—ApplesMcIntosh, $1.75@?2. weet. Po Louisiana Porto Ricans. [email protected]., Carrots——Illinois, bu., $85c@ $1. Sp jnach - - Texas, bu.. 506 80c. Tomat Li lugs, $2@3. 25. Caulifiower — Californin. crates, $1.25@ 1.50. Peas—Mexican, hampers, [email protected]. Celerv—Florida. 10-inch | crates, $3@ 33005 Onion Market (50-1b. sacks) Illinois, lows, 40@75¢

Produce Markets

(The prices quoted are paid for stock | gathered in the counfrv., while for deliv-

Michigan tatoes—

eries in Indianapolis the prices are 1 cent | te Bach Jul case of eggs must weigh |

higher. 55 pounds gro Eugs=No. i Sivicuy fresh, loss off, 5 Ihs, and over, heavy, 12¢c. Heavy |

19¢

Heavy breed hens, Leghorn breed Hens, breed springers. 2 Ibs. over, soft meated. 13¢. Leghorn rd springers, 8c. Heavy hreed stags. 8c: Leghorn breed stags, 6c: heavy breed cocks. 8c. Ducks. full-feath-ered and fat; 5 lbs. and up, 6c. Geese. full-feathered and fat, 5c. Turkeys. young toms, 14c; young hens, 10 Ibs, and ger, 14c: old toms, 8c: old hens, 9¢: No. 2, 8c. Butter—Creamery, No. 1, 38@39c¢; No. 2. 35@ 36¢. Butterfat—No. | 1. 3 35¢: No. 2, 3lc.

Chicago Grain Futures

(By James E, Bennett & Co.) High

Prev,

Low 1lla.m. Close

1.43% 1.

1. 30 1.2 1.27 3.

LOCAL CASH MARKET City grain elevators are paying $1.37 for No. 1 red wheat. Other grades on their merits. Cash corn, new No. 8 vellow, $1.10. Oats, 45c. Hay-—No. 1 timothy, $13.50@14; No. 1 clover, S190 130 No. 1 alfalfa, first cutting, [email protected]; second ¢ [email protected],

'2 inches up. |

$1.50. Kale. 15 |

Indiana and Michigan vel. |

16¢. |

L-

MANUFACTURED

600DS ADVANCE

IN PRICE RANGE

‘Factory Output Extends Rise | To Peak for Recovery | Movement.

| Times Special NEW YORK, March 29—The | price average of manufactured | goods extended its rise in January to a hew high peak for the recov- | ery movement, according to the | Alexander Hamilton Institute. Increase in prices was more than | | sufficient to offset the curtailment | in the quantity of goods produced, i the institute said, and as a result | | the value of factory output in Janulary attained a new high for the | past several years, It probably will be found later on | that this peak was higher than that | warranted by the 1937 level of farm | | income which is a primary measur- | ling rod of normal for the value of | | factory output, the report said.

Far Above 1936 Level

It was far above the 1936 level of | | farm income and it is unlikely that the 1937 farm income will show a | | sufficient increase to provide the | | support required by the January | { value of the factory output, the in- | stitute pointed out. Whatever may be .the level of | farm income this year, the report | said, it is probable that the trend | | of the value of factory output will | be upward until the beginning of | May at least. The value of factory output then | | will be unquestionably above the { 1937 level of farm income, the re- | port declared. Unless farm income | proves to be considerably above the | 1936 figure, manufacturing in May lor June is likely to experience the | | beginning of a fairly noticeable recession, according to the institute.

Excess May Be Smaller

Based on the same farm income |

lin 1937 as in 1936 and on the price {level of manufactured goods in January, the report continued, the | | index of normal for manufacturing | activity for the year 1937 works out | at 93. This compares with a normal of 96 in 1936 and with the 1936 actual production index of 105, Since the probability is that if | production éxceeds normal in 1937, | [the excess will be smaller than in | | 1936, it is evident that a larger out- | put this year than last will depend | lon a higher normal figure than the [ne estimated, the institute said. | This, in turn, it was pointed out, will depend on a larger farm income in |! 1937 than in 1936 without a corresponding rise in the price level of | manufactured goods.

| l

STOCK MARKET WEEK IN REVIEW

By ELMER C. WALZER

United Press Financial Editor

NEW YORK, March 29.—Stocks | Reo

| rallied last week after an early de- | cline caused bv nervousness over the Chrysler strike situation. The net | result was a small advance in in- | dustrials and moderate declines in | rails and utilities. | Steel shares .made recoveries on the report of the American Iron & | Steel Institute, showing actual outturn of steel at the highest level in | | history for this period. U. S. Steel and Bethlehem made small gains. Youngstown lost a trifle. Railroad stocks were depressed {and failed to recover all losses. | slowing down 1 to more than 2 | points, Car loadings were higher, ! {but net operating income for the | first two months for many leading | | roads showed declines.

Automshile production made a

New York Stocks

(By Thomson & McKinnon) 11:00

Elev . v S Gypsum 119%

Chemicals—

Air Reduction [an lied Chem ..243 | Am Com Alcohol 30% Com _ Solvents .. 18% | Du Pon Freeport Tex Liquid Carb Math Alkali Natl Dis (new). chenley Dist . Tex Gulf Sulph . a Union Carbide . 1047, {U S Indus Alco. 413g | Drug s—

| Lambert | Faigreen alee Un Drug (new). Equipments— Am Car & Fdy Am Steel Pay | Bald Loco

| Gen Flee 57% Gen R R Sig ... 533 | Buflman Inc .... St Er Westingh Elec | Financial—

| Adams Exp Allegheny Corp.. | Comm Credit .. { Comm Invst Trst

Household—

i Col Pal Peet . ! Congoleum | Servel MC oy OS | Simmons Bed ...

wha

Alaska Jun ..,., 15'% Am Metals...... 64% 951;

. . 37%

. M3

Curtiss Wrgt Douglas Air Nor Am_ Av

148

| Bre

37 15 267% 32%

‘ 70%

| Amer Smelt Anaconda {Cal & Hecla.... | C2rro De Pasco. . Gt Nor Ore ... 8 Howe Sound Ins Sopher | Int Nie cel vee | Kennecott Cop .. | McIntyre Mine

| Vanadium Miscellaneous—

{ Allis Chalmers. . Am an “of Brklyn Man Tr.. | Burrouans Add. . | Contl Can . 6 Caterpillar Tract Crown Cork 82 Curtis Pub | Deere & Co . | Eastman Kodak | Foster Wheeler | Gillette .. Glidden e | Ingersoll Rand . Inter Harv | Natl Cash Reg. . | Owens Bottle Rem Rand . | Worthington P.. Motors— Jonrysier . ..... | Gen Motors | Graham Mot Hudson

slight gain, but motor shares failed | § | to recover all losses despite a sub- IES

| stantial gain on outlook for early settlement of the Chrysler strike.

Utility Shares Lower

| lower and several made new lows | | for the year, although utility com- | | pany earnings made a 200d showling as compared with recent vears. Chemical issues were strong, ex- | cept du Pont. Allied Chemical registered a gain of 4 points up to | { Thursday. Union Carbide gained on |a favorable earnings report. With a seasonal outlook for higher | gasoline consumption, oil company | shares experienced a better market. | Crude oil output was at a record | high. | Resumption of nonferrous metal buying by munitions makers sent those commodities soaring. As result there was a better market for | | nonerrous metal shares. |

Other Livestock v (Times She OUISVILLE., March —Cattle—Receipts killing lity i Eas ers and yearlings comparaall slaughter classes steady instances on steers stockers slow; few . "$10; bulk’ steer

'e. low cutters 5.25: fat bulls, $7. $6.75 down; few Calves—Receipts, calves; higher,

‘and cutters largely $4 25 down: sausage kinds, 00d stock calves. $8. 700, including 325 stock vealers PRE strong to 50 cents advance on etter grades: to $11: bulk good and choice. 0.50% 10.36; lain and medium mostly $7@ Hogs eceipts, 900: hot market opening steady with Saturday, to 15 cen lower than Friday: early top. $10.25: some still held at $10.35; bulk. Yi Ibs. and up, early, $10 10.25, Sheep—Receipts. 00; hidding Steady to strong on fat sales;

s : sheep, . n- . Saturday: Catele, none; calves, 146; "155; sheep,

i hogs,

Produce Markets

(By Un Press)

CHICAGO, Marc 29 —Eggs—Market, ye eT receipts, 8s. 680; fresh raded firsts, 23%c; extra firsts, 23%c: irties, 21c; ‘current receipts, 22%c: ¢ ecks, 20c: storage Jaciced firsts, 24%c; storage packed extras, Butter—Market, weak; receipts, 5700 extra firsts (90-91% 3434 @35c: extras (92 goore), oN

o-PEInE hig ens, lowate, hens, 14% | To 165s xc; old POOStES. 12@131 15@25¢c; fryers, 28'5@27 zc Cheese—Twins, 170 7c: , Daisies, 1740 17%ec: Longhorns, 17: 4¢. Potatoes (Old stock Supplies liberal; demand, slow; market, weak to steadv: Idaho Russet Burbanks, $2.75 3.15; Wa she } ks, $2.80; Colorado 3.10: Wisconsin Round U. 8. Commercials, Bliss New Stock: Supplies, slov’; market, weak. Track (Florida Bliss Trigmphs [email protected]';

Ie: ures:

mand, Gatlots, shel

sales:

a |G Gimbel Bros

'S up to $7 and |

| Texas Corn ...... Tidewater Assn | Un ‘Oil ‘of ‘Cal..

Rails— | Atchison

Utility Shares continued to drift |B & O

Brie pfd Gt Northern ‘pfd. {3 Ce

West Maryland > Retail Stores—

Allied Stores ... First Natl Stores

25% 2

- Local Securities

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

BONDS Bid

oy Ind Tel na hs 3 «+. 101 103 .. 104%; 1041; 98

.. 85 . 991%

| |

5 & 10 Stores 5s oe Muncie Water Works 5s Noblesville H L. & P 6! Ohio Tel Serv 6s "47 ... Richmond W W 5s '57 . .. Seymour Water Co 5s "49. T H Trac & L 5s 44 T H Water Works 5s '56 T H Water Works 6s '49 Trac Term Co 5s 57 . STOCKS

| XBelt Railroad & St Yds Som. 58% xBelt Railroad & St Y . B8 Cent Ind 0g pfd Ts 38 Home Tel & Tel Ft Wayne ... & Ind Gas Co com 24 xInd Gen Sel & “6s

XHook Dru ch Bi Eleg Co pra 7s.

xInd & Mic Ind Hydro El . xIndpls Pwr & vy c pid 6s. . 96 xIndpls Pwr & Lit on 8 8 6s 97%, RD Water 104

No Ind Pub Serv xP R Mallory Co ro Progress Laundry Co Pub Se

Van Camp Milk Co com xEx-Dividend.

WORKMAN'S COMPENSATION INSURANCE GEORGE A. POTEET

"IT UtP & 1

| Consolidated Biscuit

¢ | Electric Household

* | Sundstrand Machine

| $8.50 to $9. at BL

2 | ket

| . i “Broad Street Juvesting Corp . 23

‘| Kroger Groce ‘Macy R H

+ | McCrory «18 " | Marshall Field .

| Keystone Steel. .

| Ludlum Steel ... Natl Steel | Otis Steel . Re Jron & Steel Bi U eel ++ 119% US Stee) pfd .. 146 V, Youngstn S & T 93% Textiles— Celanese Corp .. | Gotham Hose ... Indus Rayon Real Silk Tobaccos— Am Tob a . An ‘Tab *“B” ... 83% g & Myers ‘B'. 101, | Lorillard 241, | Philip Morr

5» | Reynol Tob

| Utilities— | Am & For Pwr. {Am Pwr & Lit.. |AT&T “19 Am Wat Wks .. | Col Gas & Elec. | Comm & Sou ... | Consol Gas | Elec Pwr & T

— bt DD a) et ek AN

- oF Gh oe oboe ® »

| Peoples Gas Pu Berv N J.... So Cal Edison .. | Std Gas 12 | Stone & Webster United Corp ... Un Gas Imp .... A"...

Chicago Stocks

(By Atkins, Hamill & Gates) 11:0

BND I~ I= IW DAT N WD rt are me WN DWNIDNID

ARNE 2B

BI m0

— -

3's 3%

Berg Butter Brothers ve | Cent Illinois Public Service ... Chicago Corp Chicago Yellow ‘Cab’ Cities Service

A) ad

DID TOP -T 8B NDI DHA

| Cord Corp

Field. Marshal General Household Great Lakes Dredge | Jarvis W Libby McNeil & Livoy Lincoln Printing . | Lion Oil .

ON No

. | Loudon Packing

| Noblitt Sparks . | Northwest Band Corp | Schwitzer-Cummins

| Swift International Utah Radio Prod

Walgreen sales Woodall Industries - .

New York Curb

| (By Atkins, Hamill & Gates)

ei 9, "eh 33s

| Aluminum Co of America “ American Cynamid “BB ... | Am Gas & Electric | Arkansas Natural Gas Barium Sree! Carrier | Chicago Flexible Shaft | GRlutnbia Oi . Consolidated Copper .. | Cooper Bessmer ..... | Dejay Stores | Eagle Picher Lead | Electric Bond & Share {| Pord Motors Canada General Tire

GAY

b | Greenfield Tap & Die .

| Other Li vestock:

(By United Press)

CHICAGO, March 29 -—Hogs—Receipts 16,000, including 6000 direct; market steady to 10c lower; bulk good and choice 200-320 | Ibs., $10.206210.40; top, $10.45; 160-190 Ibs., {3 90@ 10.35; packing sows, steady; bulk | good 350- 500 Ibs., $0. 5069.75; pig sales, | limited early Cattle- “Receipts. 11,000: calves, 1500: fed | steers and yearlings steady to strong; | long-fed kinds scarce, active on shipper accounts; weighty steers showing strength: up to $16. a new crop hi h, paid weighty bullocks; several loads, $1541 15. 75: bulk crop EOmplising short-feds selling at $9.50@ 13: stockers and feeders firm but slow: half fat feeds up to $10.35; meaty kinds at $9 down; all she stock firm to unevenly higher: heifers quarter up: best, $10.75: bulk, $10 down to $8.50: bulls. 25¢ higher; weighty sausage offerings selling up to $7: very little change in vealers. selects selling to shippers as high as $11. | mostly [email protected] with light o erings at

heep— “Receipts, 14.000, Including 2500 directs; fat lamb supply from Goleradie. opening S : bidding, $12.25 on lambs £12.50 and above; Bae sheep scarce, FT. WAYNE, Ind. March 20 —Hogs Market SLeady; - . $10.20; 225- 550 Ibs., $10, 8 $10.10; 250-275 $10; 275. 300 65: 1

trade very held at steady.

$3.70; N ; Stags, 75. y $10.50. Lambs, $12.25. © s Daves. A March 29. steady to 5 cents higher: 200-225 | $10.10@ 10.20; 225-275 Ibs. $9.90 22 0: 325 1bs., [email protected]: 170- 200 Ibs. $10@ 10.10; 139- 170 Ibs. [email protected]: 130-150 Ibs, 100-130 1Ibs., $8@ 8.75; roughs, Calves, $10.50 down. Lambs,

Hog mar-

down.

Investment Trusts (Py M. P, Crist & Co.,

be { oo | ‘|

Ine.)

Bia, y ASK | Administered Fund 2d Inc .... nes Affiliated Fund In : American Buniness Shares .. Bullock Fund, Century Shares Trust .... Corp ‘AA’ or ‘Accum’ (mod) Corp ‘AA’ or ‘Acc’ (HNT08) . Corp Trust Shares (ori | *Diversified Tr Shares ° | Diversified Tr Shares ‘C'. Diversified Tr Shares ‘D’ | Dividend Shares Inc vs | “Fundamental Investors Inc .. “General Capital Corp General Investors Trust | Incorporated Investors 27 Market Street Jivestment Corp : Maryiand Pund I Massachusetts Investors Trust. Mutual Investment Fund “Nation-Wide Voting . | North American Tr Shs 1955 . North American Tr Shs 1956 . North American Tr Shs (orig) Quarterly Income Shares ‘ Selected Amer Shares Inc Selected Amer Shares (orig) .. Selected Cumulative Shares ... . Selected Income Sh State Street Investment Corp 120 nn Supervised Shares Ine (Del) 15.38 Trustee Am Bk . *Ex-dividend.

. | dianapolis | Weights between 160 and 250 pounds | (were up 5 cents and weights above |

o ( aT UND STR

. [$11 down.

*| (160-180) Bi a |

81 (200-220) a | (220-250)

for |

around. 85 per |

1bs., |

2 | Debits

8 | Expenses

WEIGHTS ABOVE 160 POUNDS UP

IN HOG MARKET

. Advance Ranges From 5 to 10 Cents; Lambs Down; Vealers Steady.

Heavier weight hogs advanced | [from 5 to 10 cents today at the In- | Union Stockyards. |

250 pounds gained 10 cents. Un- | derweights were steady. Receipts | were 7000 with 326 holdovers. Packing sows were around 10 cents higher, tc $9.75. Weights of pounds sold for $10.25:

160 to 180eto 200-

pounders brought $10.30: 200 to 210 |

| pounds, $10.35; 210 to 225 pounds, $10.30; 225 to 235 pounds, $10.25, and

| weights of 235 to 260 pounds brought

($10.20. Weights of 2 to 275 pounds brought $10.15; 275 to 300 pounders | were $10.10; 300 to 325 pounds, $10.05; 325 to 350 pounds, $10. and weights of 350 to 400 pounds were $9.95,

In the lighter divisions, 155 to 160 to 155 ! 140 to 150 |

sold for $10; | pounders were $9.75; | pounds, $9.50; 130 to 140 pounds, $9.25; 120 to 130 pounds, $9; 110 to 120 pounds, $8.75 and the 100 to 110-pound class was $8.50. Slaughter classes in the cattle market were active and steady to strong and in spots slightly higher | on steers and yearlings. Steers and vearlings ranged $10.50 down. Most of the heifers sold for $8.50 | to $9.50, top $10. Beef cows were $5.50 to $6.50, low cutter grades, $4 to $5. 25. Bulls were Slow and steady.

pounders 150

| was $6.50. Receipts were 1200 cattle | and 500 calves. Vealers were active and fully steady with the good to choice kinds ranging from $10.50 to $11. Lambs were 25 to 50 cents lower. Choice wooled, fed Western lambs | | were $12.50 and clipped, fed Westerns were $10.50.

cents lower at $6 down. Receipts

HOGS Bulk

$10,004: 16.40 9.9061 10.30 9 [email protected] 10.006: 10.40 10.1561 10.50 10.006: 10.30 10.057 10.35 | Ligh Lights (140-160) Good and Medium Lightweights Good and Medium (180-200) Good and Medium | Medium Weights— Good Good | Heavvweights— i (250-290) Good (290-350) Good Packing Sows 1275-3501 Good 350

Top. £10.40 10.30 10.25 10.40 10.55 10.30 10.30

March Receipts 32. R 8000 6000 6000 5500 1500 7000 25@ 10.25 80@ 9.95

N5@ 10. 30 9.25@ 10.1 10.25@ 10, 3 0.756 10.1

AD. 2510.3 10.206 10.3

10.10@ 1 9.95a 1

choice. 8

choice 1 choice...

choice choice.

and and

choioe. choice. .

and

5 5 0 5 and 0

0. 0.2 0.1 9.75 9.55 9.35 5° Medium 9. Slaughter Pigs (100-140) Good and Choice . Medium CATTLE — Receipts, 1200 Choice Good Medium Common Choice ... Good . Medium Common Choice Good Medium

Choice Good

8.50 7.000 ¢

(550-900)

(900-1100) . 10.25 13.00 8.007 10.25 |

13.00@ 14.25 . 10.25@'13.00 8.25@ 10.75

| (1100-1300)

(1300-1500) "> 10.75@ 13.25 Heifers 750) Choice Good Common . Good and choice . Common, medium,.

Cows

{| (500-

(750-900)

| Good .. os | Common and medium | Low cutter and cutter | Bulls, good . | Cutter, com . —Vezlers— Receipts, 500 Good and choice | Medium | Cull and common Calves Good and choice Common, medium . Feeder and Stocker Cattle (500-800) Good and choice .§ 6. T5@ Common, medium , (800-1050) Good and choice . Common, medium.,

5.50@ 8.50

(250-500) t

Yada ay

Gn avon

DN 5 75

Heifers Good and choice Common and medium SHEEP AND LAMBS —Receipts, 1000—

. B253@ 5.25%

Lambs Choice Good Medium { Common | Ewes (90-175)

. 10.25@ 11.25

5.00@ 4.00@ 5.00

Good and choice... Common, medium .

(Sheep and lamb quotations on clipped !

| basis.)

Money and Exchange

Clearings 6,371,000

TREASURY STATEMENT (By United Press) WASHINGTON, March 29 | expenses and receipts for the current | cal year through March 26, compared with a year ago: This Year Last Year $5,448,224 499,74 3.674.920,444, 79 ,773.304,054. 23 78, 528,068." 100 Da Ten 1 11,541.544 691.63 344, 095.026.67

Receipts Deficit Cash Bal. Pub. Debt. | Gold Res. | Customs

BEMIS :

245,687.57

AUTOMATICALLY TYPED

MULT GRAPHING ETENCILS CUT MIMEOGRAPHING RULED FORMS UY TH 14° rWo NOTAM .!

® 303-307 Merchants Bank Bldg. LI-612: |

INV

MASSACHUSETTS

Prospectus and Latest Quarterly Report Embodying Portfolio of Stocks Available on Request

Indianapolis Bond and Share Corp.

129 EAST MARKET STREET

ESTORS TRUST

Organized 1924

ranging mostly from $9.10 180 |

A few native | lambs sold up to $12, most sales at | Slaughter ewes were 50 |

6.754 8.00 |

rv 13.95614.25 |

..$10.00% 11.00 | 8.507 10.00 |

[email protected] | 11.256 12.00 |

9.006 10.25 6.00 |

.. $2,599,000 |

Government | fis- |

$5,284,440,678.76 |

329! 165. 8s | 925.794. 31

TYPEWRITTEN LETTER:

ADDRESSING & MA LING |

X 20 |

IN THE UNITED

TREND OF AUTOMOBILE PRODUCTION

STATES AND CANADA

Prepared * Administrative and Resaarch 2 ohio New York

CO Trucks WR Psssenger Cars

Thousands of Units

Jd FM AMY Neu

J T

JAS OND 7 \1937 —

1936

Large Potential

Times Special

For Additional Farm Tr:

Market Exists

NEW YORK, March 29.—A huge potential market for farm tractors

| exists at the present time, according to Brookmire.

said. tional units, Brookmire points out,

estimate does not include the substantial replacement demand that can reasonably be expected, Proof of the tendency mechanization of farms in the fact that the number

toward

43 per cent during the last 17 years, according to the report.

New Tractor Introduced

The possibilities in the tractor | market have been greatly enhanced by the introduction of the one-plow tractor, which under ordinary conditions is equivalent in power to | four horses for field work, it added. | In addition, the report said, the tractor performs the work at a 0 | higher rate of speed. | The tractor industry. | reported, during the low | the depression, produced only 16,000 | units. During the year 1936 it produced an estimated new high record | of approximately it said.

Brookmire period of

out. These diesel tractors have been well received, and sales prospects are promising, particularly on bigger | farms where savings of fuel costs are important, the report said,

ANNOUNCES

Times Special BOSTON, lof 20 per

DIVIDEND

March 29.—A dividend cent,

2 | policies expiring May 1 to May 31,

(1937, has been declared by the American Mutual Liability Insurance Co. the company said today.

industry occupied for over 10 years af, the 1936 production rate.

is found | of | horses used on farms has declined |

250,000 tractors, |

also |

payable on all |

Less than one-third of approximately 4.300.000 farms in excess of 50 acres has been equipped with tractors at the present time, the service

It is estimated that there is a potential market for over 3.000.000 addi- |

which would be enough to keep the This

| New Bond Issues

(By W. J. Lyons & Co.)

sk 1027 97 100% 9

Argentine Rep 4s '72 | Assd Tel 4s ’65..... Atl City 3'2s '64 B & O 41,8 '39 | Cal Oro Pwr 4s ' | Celotex 4's>s '47 | Cent Maine Pwr Cent Maine Pwr | Cinti G & E 35s Dom Canada 3s '67.. (‘Great Nor 3%s '67 . . | Houston Lt & Power 3i,s ' Indpls Water y 3 »s '66 | Kansas P & L 4's '6f Koppers Co 4s '51 Kresge Foundation 315s ° Los Angeles Rev 3s '67 Louisville G & E 3'5s * Mengel CV 4's '47.... Metro Ed 4s '65 Narra Elec 3's ’ NY City 3s 77 NY State Elec Gas a Northern States P 3! Norway 4s '63 Ohio Edison FA | Okla G & E 4» '45 | Okla Gas & E Inc 4s Otis Steel 4':s '62 Pac Mating 4% 2S 4 Phila Elec 3! "67. | Sou Kraft, | Wise G & 8 Wisc Pub Sve 45

“2d 100° 4s ’ 31s "66. .

me .

U nlisted Stocks

(By Blyth & Co.)

| Bankers Trust Chase . | Central Hanover Chemical | Continental Tllinois First National Boston Sun anty Irvi Mar aractuiers National City National Shawmut FIRE INSURANCE Aetna Fire Insurance Baltimore American Federal Franklin Fire ‘ | Great American Insurance Hartford " vee | Hanover Fire Phoenix . National Fire | National Liberty North River U S Fire Westchester Fire

DT anNw a

ctors

INVENTORIES IN INDUSTRY NEAR NORMAL MARK

Price Increases Account for Most of Higher Values, Service Says.

| Times Special | NEW YORK, March 29.—Opinion |to the contrary, general industry entered 1937 with normal inven | tories. The value of inventories of | raw materials, goods in process and finished products held by 694 | corporations in 52 industries was {only 12 per cent ahead of a year | ago and of this gain a considerable | part. can be attributed to price in- | creases. | This was indicated in

today a

“| study released by Standard Statis-

| tics, Inc., which put the combined |inventory of the 694 corporations [at $3,057,902,000 last year-end and | $2,731,277.000 the year before. ! Tt added that as the physical volume of industrial production in{creased 20 per cent last year, and [ industrial production in December |was 26 per cent above December, 1935, the 12 per cent increase in [the dollar value of inventories must {be regarded as moderate,

Attributed to Higher Prices

Much of this gain must be attributed to higher prices, the service | said. The average price of raw ma- | terials in December was 10 per cent | above a year earlier, it was pointed | out, while the increase in semimanufactured articles was 9 per cent. | There was only a minor gain in | average prices for finished products. | Allowing for the higher prices, the

41, | company said, it is evident that the

expansion in physical inventories | was unimportant. As a further check on the inven=-

tory situation, the sales results of

an | reporting companies also were ex-

{ amined, the company said. The dol- | lar volumes of 339 companies, which | disclosed sales, showed an increase {of 16 per cent, while the inventory | valuations of these identical cone

. | cerns also rose 16 per cent

Inventory Turnover 5.5 Another indicator is the ratio of sales to inventories, and compila- [ tion of these ratios disclosed an inventory turnover of 5.5 in 1936 against 54 in 1935, the company | said. On the basis of this evidence, the | survey said, it is clear that there was no overextended position in in- | ventories among leading corpora-

| tions at the year-end, adding that a | if there has been any trend in this

| direction it must have developed during the last few months. “The anticipation of more dis-

» | tant commodity requirements, hows

| ever,” the study continued, “is a [normal accompaniment of a rising business cycle.

For Gentlemen Who Seek the Finest

CCT TAILORING CO.

MERIDIAN AT WASHINGTON

Bae 3 Srestaon

OME OFFICE:

18 DRIVERS!

cover or wey c

Indianapolis: 1108 Circle Tower, Li