Indianapolis Times, Indianapolis, Marion County, 19 May 1937 — Page 16

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~ dustrials and raiis sagged.

. vertising in 77 leading cities week

PAGE 16

THE INDIANAPOLIS TIMES

WEDNESDAY, MAY 19, 1937

COMPLETE | N. Y. EXCHANGE| STOCKS

The Times Financial and Market Page

COMPLETE LOCAL

= LIVESTOCK

STOCKS IRREGULAR AFTER LEADERS SAG AND TRADING DULLS -

®»

Coppers Lose Gains; Utilities at Lows of Two Years.

By United Press NEW YORK, May 19.— Prices moved irregularly in| dull trading on the Stock Fx change in the morning deal- |

ings today. Most of the steels sagged with U.S. Steel down °; at 957s. Chrysler lost a point to 110% to lead a dip in its section. Union Pacific was down 11; points at 142': and Atchison down 1's at 877: in an irregularly lower railroad division. Woolworth made a new low in the chain store stocks. Utilities sagged to new lows since 1935. Oil shares were steady around the previous close despite production of crude oil at record high levels. Amusements were steady to firm. Coppers made substantial gains early in the session but lost part of the advance when the leading in-

There were several good gains noted. Homestake, responding to action for. a split in the stock, rose 11 points to 381 and held most of it. International Harvester reached 106; up IS i General Railway Signal 44, up 112; Allis Chalmers 612, up 1%; Deere & Co., 12812, up 2'2 and Pacific Western Oil 24, up 14 Active strength in railroad issues feature an irregular -bond advance. Government issues eased. Selected industrial issues and mining shares rose on the curb. FIRST HOUR

The market opened irregular with trading moderate. Some strength appeared in metal shares, Kennecott gaining more than a point. Later railroad shares attracted attention as Northern Pacific, Southern Pacific and Great Northern preferred made good "fractional gains. Atchison, however, was almost a point lower. Chrysler dipped to 11012 for 3: loss to feature the industrial ‘division. Steel shares were mixed, U. S. Steel losing fractionally. Utilities were quiet and about unchanged. | Volume approximated 240,000 shares, compared with 280,000 in | the first hour yesterday. DowJones averages: Industrial, 170.03, up 0.06: railroad, 58.28, up 0.36; utility, 27.31, up 0.03. . SECOND HOUR

The market was irregular and | dull with utilities going to new lows. Columbia Gas and Common- | wealth & Southern made new lows for the year and Consolidated Edison was near its low on a fractional ecline. Chain stores continued under pressure. Woolworth lost 7s to a new low at 44'i, and Kroger was 7: lower at a new low of 20. Atchison had 12: loss at 87'i but other rails were mixed. Farm equipment issues were strong. Chrysler at 109152 was 13% lower and U. S. Steel dropped to 13s loss at 954. Volume approximated 190,000 shaes, compared with 260,000 in the second hour yesterday. Dow-Jones averages: Industrial, 169.61, off .36; railroad, 57.96, up .04; utility, 27.03,

off Bi \ Today's Business At a Glance

GENERAL BUSINESS

American Petroleum Institute reports for week ended May 15, decrease in motor fuel stocks of 1,093,000 barrels to 80,378,000 barrels; | domestic crude oil output reached | further new high daily average of | 3,551,950 barrels, up 62,750 over previous week. Edison Electric Institute reports electricity production for week ended May 15 at 2.194,620,000 kwh, an increase of 12.7 per cent over 1936 weeks total of 1.947,771,000. In preceding week output 2,176,383,000 kwh up 12.8 per cent over 1936 week. Iron Age reports steel production 92 per cent of capacity, unchanged from previous week. Advertising Age reports retail ad-

ended May 8 was 24,959,452 lines vs. 22,167,533 in week preceding and 22,912,988 in 1936 week; year to May 8 totaled 371,196,420 vs. 349.115,443 last year, 6.2 per cent gain.

CORPORATION REPORTS

Pirst Quarter Net Profit $ 549. 333 357 319

Year Ago

Crown Cork & Seal $ 224.281

Murray Corp. Amrica Southern Pacific R.R.

Reynolds New York Shipbuilding 2.498

, Year Ended Previous March 3 Gruen Watch Co. . § 606.686 $ Oklahoma Gas Electric 2.508.433 1

7. ,834, Fed. Wat Serv. Corp. 1,108,621 652,

1936 1935 M’'mphis Nat. Gas. Co. $ 517.819 § 249, 826 Posal Tel. & Cable 686.671 . Pow. & Light' Co. 7,094,578 6,296,385

DIVIDENDS

American Surety Co., $1.25, payable July 1 record June 12. Similar payment Jan. 2. Detroit Paper Products Co., 64 cents on common, payable June 10 record May 31. Similar amount paid March 10. Kennecott Copper Corp., special 25 cents and regular quarterly 50 cents on capital stock, both payable June 30 record June 4. Previous payment 50 cents March 31.

National Sugar Refining Co., regu-

lar quarterly of 50 cents, payable July 1 record June 1. Newmont Mining Corp., 75 cents, payable June 15 record May 29. Sitar payment made March 15. ew (England Telephone & Telegraph Co., $1.50, payable June 30 record ‘June 10. Previous payment $1.75 March 31. Ohio Leather Con., 25 cents on common for the first quarter, payable: forthwith to stockholders of record May 18. Dividend was deferred by labor difficulties. Previous

MARKETS AT A GLANCE

Stocks irregular in dull trading. Bonds irregulary higher; U. S. Government issues lower. Curb stocks irregularly higher in moderate trading.

Chicago stocks irregular.

Call money 1 per cent. Foreign exchange irregularly lowFrench franc weak. Cotton 3 to 7 points higher... Grains fractionally higher at Chi-

er;

| cago.

Rubber firm in dull trading. Silver bars in London unchanged at 20% pence a fine ounce.

Curb Stocks

By United Press

Am Box Brd . Am Cyan B .. Am Gen C Am Maracaibo Am Super Ark NG A .. Ber Gay Fur Brill Cp pf ... Brown Co pf . Can Marconi . Carrier Corp Cities Serv .. Cities Serv pf ColO& GN Con Cop Mns Creole Pet .. Cusi Mexic

Bd ao DauINLO OUI) = De 0) -- WPM BN

AL Cpu Ford M Ltd Gen T&RN.. Grd Nat Flims’ . Gt Nor Paper Humble Oil

Rustless I & Stl Segal Lock New SOKRKy /Ly'.. Technicolor ilo Rf

Un G- Corp. Un Lt

Low Last 2

4 19% 44

Asbestos Mfg Bastian- Bless Borg Warner . veveis 44 Cent Ill Sec cv ‘pf. Cent & SW Ut Chicago Corp Cities Service . Decker & Cohn ......... Gen Financ . 1.Gen Hshid Ut ... ie. Rad Tube { Mid West Corp Noblitt-8Sparks Prima & Co

Utah Radio Prod Walgreen Co

U. S. STATEMENT By United Press

WASHINGTON, May 19. — Government | expenses and receipts for tne current fis- | cal year through May 17, compared with a year ago: Year Las

This t Year .$6.610,420,946.12 $6,324, 072. 939.24 4.301,275,427.22 3,497,221,903.15 Deficit ... 2,309.145,518.90 2.826. 851.036.09 Cash Bal 1.702.171.150.63 2.377.550.32..33 Pub. Debt 35.094,856,799.80 31,541,529.795 88 Gold Res. .11.901.390.585.75 10,355.154.218.52 Customs... 2s ol 2 73.47 342 fas. 1509, 23 s Pur. al p Inactive Gold $5 oy 864. 86 $670, 070, 499° 28

Expenses Receipts...

able June 10 record May 29. Similar payment March 10.

on preferred, payable June 10 record- May 25. Previous payment $1 on accumulations Nov., 1936. Schiff Co. a 50 cents on common, payable June 15 record May 31 on all stock outstanding after 50 per cent stock dividend payable May 26. Dividend equivalent to 75 cents a share on old basis, unchanged. Sutherland Paper Co. regular quarterly 40 cents on common, payable June 30 record June 19. Consolidated Biscuit Co., regular quarterly 15 cents, payable June 23 record June 1. Crane Co., $1.75 on arrears on 7 per cent preferred, payable June 15 record June 1. Cutler-Hammer, Inc. 50 cents on common, payable June 15 record June 4. Hudson . Bay Mining & Smelting Co., 75 cents, payable June 28 record May 28. Previous 50 cents paid December 21. Lord & Taylor Co., regular quar-

1 record June 17. Calumet & Hecla Consolidated Copper Co. of 50 cents on common, payable June 16 1ecord May 31. vious payments 25 cents each Merce 16 and Dec. 21 last. Continental Steel Corp., regular quarterly 25 cents on common, payable July 1 record June 15. Safety Car Heating & Lighting Co., $2.50, payable July 1 record June 15. Previous payment 3. 50 on April 1. United Verde Extension Mining Co.,, a $1 payable June 30 record June 4. Previous payment 25 cents Dec. 15. (Copyright, 1937, by United Press)

: Hall

Pittsburgh Brewing Co., 50 cents!

terly $2.50 on common. Payable July |

LATEST NEW YORK STOCKS

By United Press

Net Change

o + 1ip tn 7

DOW-JONES STOCK AVERAGES

H Adams Exp .... 17 30 INDUSTRIALS

Air Reduc Yesterday Week ago “1, | Month ago Te Year ago 78 High, 1937, High, 1936,

+213 —0.31 +2.16 +1.45 194.40; low, 167.46. 181.90; low, 143.11. 20 RAILROADS

Ser ai

Yesterday Week ago Month ago Year ago High, 1937, High, 1936,

--0.80 —0.06 +0.58 +0.35

64.46; low, 53. 15. 59.89; low, 40.66. 20 UTILITIES

Stl Fdies .. Sumat T & vee Type FP .... Water W .. Woolen .... Anaconda

Yesterday Week ago Month ago Year ago Ch Cae High, 193%, 37.54; low, 23.10. High, 1936, 36.08; low, 28.63. Atlas Corp cl STOCKS Atlas Pdr Yesterday Week ago Month ago Year ago ... High, 1937, High, 1936,

+ 0.74 61.99 —0.18 66.08 0.66 53.39 0.48

61.01

DHE

low, 60.25. low, 351.20.

69.67; 66.38;

Bald Loco 2H Bald Loco pf .. Bald Loco pf Balt & Ohio ... Barnsdail ... .. Bendix Avn .... Beth Steel Blaw-Knox i} Boeing Air G- 16 Borg-Warner 10173 Bucvrus-HBrie : ia, Butte Cop ..... '5 5 5 say 21% Byers, A M Int D Ds Pats WI 13g

~K— 23 28

MAN DD AOD NN

; Net Hip Low last Change Int Nickel 60 5078 A

Inland St Rts. .

C3 ts bs ki nd ct

+14 1

Kan C Sou .. Kaufman D S . Kennecott : Kresge § S.... Kroger G & B..

Calumet & H ,. 1 Canada Dry Can Pacific ... Capit Adm A .. Caterpillar T .. Celanese o Cent Foundry .. Cer de Pasco .. Cerra. teed

5453 22% 203%;

lan

Leh V.Coal .... L-O-F Glass. Loew's Lone Star Cem Long Bell A i Loose-W "Bis Lorillard Lou G & E A.

FAIA COO bt BD ht 3.03 CA U1=1N a

ONMNT ADD a 0) 07 im C3 and NOB NaN RR tt NON» HON

BIBI

2012

— ®

COUTRI Wn = NED

McIntyre P.... 34'%2 McKessport Vix Marine Mid.... Mengel Miami Cop ... Mident Pet .... Miaang, Su Mo-K Sr. Mo-K Tox pf.’ Mohawk Cp... Mont Ward .... Mother Lode... Murray

Nash Kelv Acme .. Biscuit.

- 0 on = OU nN

www» oN

DWH = = JOU BN DU WTO DO UT WOU — —

Col Pictures vtec 3: Com Credit . 60 Com In Tr Comw & So Cons Edison Cons Oil Con Textile Cont Bak B Cont Ins Cont Mot ...... Cont Oil Del ... en Prod

LL) oO 3 mW = =e a LILI COLI << woo

— pt 1 03 =3 100

EON PDO ® NN

ore on -—

NW = we NNT

Curtiss-Wr Curt-Wr A

—

Deere & Co. ..: DL&W :..... 135 Dome Mines + 40% Douglas Air . 120% Du Pont Diamond T Mot! 1758

ii . 337% 47g L 1673 ini Powe Fed t 73% First won 4334 Flintkote Co .. 311;

Eaton Mfg/ .. Elec & Music I Elec P&

33% 165

Otis Steel Gen Gen Gen Gen Gen Gen Gen Gen Gen

Em Tr... Cable Cable A 45 Cable pf. A Elec 51 Foods .... G&E A.... Motors P cy Gillette S R. .. Gobel. Adolf ... Goodrich Goodyear Grand Un TE Gt North pf .. 5: Gt Nor Ore Breen HL . Greyhound Cp. Guant Sug ....

Pac G & e Pac West: oil

Pennty aia Penn D Cem . Penn: R i1R. ... Pieler -Brew

Pitts Sc & B...

BANK STOCKS

(By Blyth & Co.,

: Inc.) Print: ....: Hayes Body ... Holland Furn . Houd-Her A...

Ask Bankers Trust 703 Central Hanover Chase National Chemical Bank & Trust Guaranty Trust Irving Trust . Mazanufacturers Trust National City Continental, First National, Y National Shawmut. Boston National City. Cleveland

FIRE INSURANCE

0 o

Ill Central Ind Ray Insp Cop Inter Iron Int Harv Int Mining

FOREIGN EXCHANGE

yew YORK, May 19.—Foreign exchange eas

and (pound) .....4.941; Eng. (60-day bill rate) 19312 Canada (dollar) ......1.0 France (franc) ‘6ae6 8 78000 15-16 Italy (lire) ox. ..... 00000 0539! --.00001%

ww “oe

Loto bn WRI ~ i

Aetna Fire American of Newark Baltimore American City of New York ... Federal Franklin. Great American Hanove Hartford Home National ‘Fire . : National Liberty Belgium (belga) North River Sein Germany (mark) ‘ ’ Phoeniy. Switzerland (franc ... . 1. 8 Holland (guilder) oF 5400 NSE,

LOCAL ISSUES

Sweden (krona Norway (krone) Denmark (krone) Japan (yen) The following quotations do not represent actual bids or offerings. but merelv indicate the. approximate market level as furnished by the brokers named.

INVESTING CO.’S (By Indianapolis Bond & Share Corp.)

(By N. Y. Security Dealers Assn.) BONDS

Ask Bid 19.14/Huron .. .€8 : 10.79 Inc Inv. 24.23 Citz ind Tel (THY. 4l4s 61... 29.37 Ins Shrs 1.55 H Tel & Tel Ft W 52s ; 1.21iInv Fd C 15.35 H Tel & Tel Ft W 6s '43 11. Ind Assoc Tel 4lzs ' Indiana Tel Co 5s

‘6 Indpls Railway Ins 5s '67 Indpls Water Co 3!2s 66 § Interstate Tel & Tel 5's '53 . 9 Kokomo Water Works 5s ’58 Morris 5 & 10 Stores 5s ‘50 100 Muncie Water Works 5s '65.. Noblesville H L & P 6'2s '47...102 Ohio Tel Serv 6s '47 Richmond W W 5s ’57. Sevmour Water Co 5s id TH Trac & L 5s '44 T H Water Works 59 '56. T H Water Works 6s '49. Trac Term Co 5s ’'57 . ’ Kuhner Packing Co 4'25 '49...

. STGCKS

Belt Railroad & St Yds com Belt Railroad & St Yds pfd.. : Cent Ind Power pf Ts 2 Home Tel ¢&; Tel Ft Wayne. ... ! Hook Drug Inc Ind & Mich Elec Co pfd 7s. . Ind Gas Co com Ind Gen Serv Co 6s

Indpls Pwr & Lit Co pfd 6s Indpls Pwr & Lit Co bid 6les. Indpls Water Co pia Lincoln Natl Life Ins Ny com. N Ind Pub Serv pfd Ts ‘87 N Ind Pub Serv Co pfd 6s N Ind Pub Serv pfd 5s P R Mallory Co com Progress Laundtv Co .... Pub Serv Co of Ind 6s . Pub Serv Co of Ind 7s...%.... Smith-Alsop pfa .... Smith-Alsop com seus Terre Haute Elec Co 6s . Union Title Co com Van Camp Milk Co pfd Van Camp Milk Co com

@ Ww

DWI Hb IDV IN-TNLORDWD

CLOUD NI—=D aD -1DC

on ox

Adm Pd Affil Fd. Amerex Am Gen. Bancam. Bk Shrs. Basic . Brit Tp. Bd St Bull Fd Can Inv Cent N A OB

Cent Tr Cons Fd Cont Shs

Bid 102 55...103', 104Y; 4

Ask 03

HRN. ; ORB DNRIUWDHH Hy CORI GO TY

IM : nT Mut Inv. Inv.

[Y DMS BB IIE, — OHDOT JLDROO 1

50 Bldg Sp 113% | Elec Eqt 1165 3 ie

Crd

Fidelit y.

dad 17) 5 — © “IO I B00 10 0 De 20 © m3 PI TN U1 = 1 =I > 1 oR 33 23%

SUNDA TNO Or = WD JVC

0 < DD OID DD soa = LLIN LIL DLW

? 56 . Group ‘Securities o Speryised 1 Agric .. 1.84 L Bk Auto .. 1. Chem .. 1. Min .. .62 L "Pet 1. 1. 0 2. LL 1.

Darr 0-1 a CO 100 Ox 03 00 mf m1 OD JTW DOPONWWD

RR Eqt Steel .. Tob Inv

St USELaPa 16 3. 2

F=oauamnio

. ! .90 Sh. Well ‘pa’ 19.14

For Final Stock Quotations See Later Editions of

The Indianapolis Times

(By M. P. Crist & Go.) Market St Investing Corp.... 33.36

LOCAL PRODUCE

(The prices quoted are paid for stock gathered in the country while for deliveries in Indianapolis the prices are 1 cent higher. ‘Each ta case of eggs must weigh 33 pounds gross - Eggs—No. 1 Shetly fresh, loss off. 15¢ 0z Heavy breed hens, 5 lbs. and cver, 13c: Leghorn hens, 9¢. Heavy breed broilers. 1937 stock, 2 Ibs. and over, 19c, Leghorn broilers. 1937 stock. 2 lbs. and over. 17c. Bareback broilers. 1937 stock, 2 lbs, and over. l4c. Cocks, Tc. Geese. full-feathered and fat. 5c Ducks. full-feathered and fat. 5 lbs. and over. 6c. Butter—Creamery No. 1. 35@36c: No. 30c: No. 2. 330.

PRICE INDEX

Yesterday . Week ago

Month ago ......152.81 | 1937 low

the index:

Commodity— Wheat, No. 2 red (bu.) Corn. No. 2 vellow Rye, No. 2 (bu.) Oats, No. 2 white (bu.)........ Flour, spg. pat. (196-1b. sk.).... Lard, prime steam spt. (lb.) ... Coffee, Rio 7s spt. (lb.) coves Sugar. raw. 96 test (Ib.) Butter. 92 score (lb.)

Today $ 1. 37% 1.38% 1.22% 56% 7.500 1227 091% 0338 32

(hu.)

cs.ens

payment 25 cents Dec. 24. Pacific Mills Co., 50 cents, pay-

.1115 0600

Hogs, avg most sales (1b.) Steers, avg. most sales (Ib.) ...

DAILY PRICE INDEX

NEW YORK, May 19.—Dun & Bradstreet’s daily weighted price index of 30 basic commodities, compiled for the United Press (1930-1932) average 100):

149.51 | Year ago ........ .146.65 | 1937 high (April 2 2

Following are the commodity prices

321 @33c. Butterfat—No. 1.

AND COMMODITY QUOTATION S

Year Ago 1210 10% 34 A192 1.55 15 9-16 091% 0460 .0490 45 11-16 44% 13.00 18.84 3.65 2.25

50.00

Week Ago A240 § 1614 43 .1331 1.85% 21 3-16 14 060212 066215 54% 45 17.73 23.23 4.60 2.25 60.00 52.50 .090

Commodity— Lambs, avg. most sales (lb.) .. § Hides, native hvy. steers (lb.).. Wool, fine unw. comb. (lb.) Cotton. Midupland (lb.) Silk, 13-15 deniers Jap lb.) ... | Rubber, spt. smk. rib. (lb.) ... Copper, electrolytic (lb.)..... ve Lead. spot (Ib. ........... esse Zine, spot (lb.) Tin, Straits spot (#7 .... Silver. comml. bars (§z.) Steel scrap. Chi. (ton) Pig iron, Iron Age comp. Coke. Connelsville (ton) : Cement, dom. Portland (bbl.).. Yellow pine. 6-in. base (M ft.). Douglas Fir, rough (M ft.) .... Gasoline. tank wagon -(gal.) ... Crude oil. 40 gravity (bbl.)

- Source of Quotes—Chicago: Grains livestock, lard. steel scrap and hides. Boston: Wool. East St. Louis: Zinc. Connelsvilie; Coke. Tulsa: Crude oil. New York: All withers.

Today A233 8 A578 A114 132% 1.86 207% 14 060214

.116.70 .158.26 (Jan. 29)..141.47

used in compiling

Week Ago $ 1.277% $ 1.28 1.15% 51 7.550 1155 09% 0345 .331% .1020¢ 0395

Year Ago 9834 6534 593% 283% 5.875 1027 06% 0372 26% .0960 .0630

(ton).

52. 50 .090 1.2% 1.27

Low 26% 21

\ Net Last Change 5 + I 263, + V

21 591% 10215 18

Hi Pitts = United... Plymouth Oil... Press Stl Car.. Proctor & Pub Ser Pure Oil

834

+4 |

Rem- “Rand Reo ips i Stl... Revere Cop .... 3 Reyn Tob B....

1 i

St L-S Fran ... Seab Air Seab’d Oil Sears Roe ..... Shell Un oi... 2

dae YS Akm ne Rn

CA | +

South- 2 . So Ry Sparks with Sperry-Corp St Brands Stan G & E

[+++ ++

Stan Oil Ind ... Stan Oil N J... Stone & Web.. Studebaker Superior O .... 3! Superior St .... 33° Swift Intl

Texas Corp. . 58 Texas. Gulf Prod | & PC & Thomnson Pr .v Timk-D Ax Transamerica .. 20th Cent Fox.. Twin Cy RT...

Unibn gars wrins 997% Un Oil: .. 24% Un fAireratt Cp: 25 Un Carbon ... T78!2 Un| Carr Fast .. 3 United Corp ..:. 5 United Drug ... 123% Un| El Coal .... 63 United Fru .... 78% Un|Gas Imp. ... Un|Paverbd ....

Walworth Warner Bros 2 Warren F & P.. © West A Bke White Mot, White Rock White Sew M .. Wilson & Co Woolworth

2333 823%

Yellow Tr Se Young Sheet ...

MONOPOLY GAIN

. 23%

21 83 823;

Trade Commission Alleges NRA OQutlawry Added To Difficulties.

By United Press WASHINGTON, May 19.—Federal Trade Commission records today disclosed a sharp increase in citations against monopolistic practices in business since the outlawing of NRA.

The FTC now has before it almost two score cases involving charges of price-fixing, distribution marketing agreements and other devices by which the Commission charges groups or individuals seek virtual domination over different fields of business endeavor.

An FTC official said that twice as many complaints have been received within the last year than in the previous year. One reason for this, in his opinion, was reluctance of some business groups to abandon price-fixing and trade agreement practices permitted under the NRA. Mayors Complain One of the most consistent complainants, it was said, has been the National Conference oir Mayors, headed by Mayor F. H. La Guardia, New York City. The Mayors have charged repeatedly that certain in-

dustries serving municipal, state and |

Federal governments, have banded together in price-fixing combinations which make uniform bids on Governmental contracts. Cease and desist orders have been issued against several individual corporations and associations whose members are engaged in selling their products to governments. Among those cited are the General Electric Co., Westinghouse Electric & Manufacturing Co., Worthington Pump and Machinery Corp., Ingersoll-Rand Co., and the National Electrical Manufacturers Association, whose members include General Electric, Anaconda Wire & Cable Co., Kennecott Wire & Cable Co. and General Cable Co. Uniform Rates Hit

The cease and desist order in the case of General Electric, Westing-

| house and other companies, was di-

rected ‘against uniform bids and uniform performance guarantees not based upon actual performance in the sale of turbine generators. In the National Electric Manufacturers case, it was alleged that 16 member manufacturers of power cable and wire had entered into an illegal agreement, combination or conspiracy and the cease and desist order prohibited maintenance of uniform selling prices. The FTC charged that the association, as eode authority under the NRA, used and applied various code provisions to support and reinforce these agreements and policies.

1936 PIGS MARKETED EARLY, SAYS REPORT

By United Press WASHINGTON, May 19.—Short supplies and high prices of corn have caused an early market of 1936 spring pigs, the Department of Agriculture reported today. The Department said that on May 1 the increase in storage holdings in pork products over a year ago was equivalent to the products obtainable from about 2,700,000 hogs at average market weight. Because of relatively early marketing of last year’s pig crop the season reduction in hog marketings this summer will be greater than usual, the Department said.

8-FOR-1 SPLIT PROPOSED |

By United Press NEW YORK, May, 19.—An eight-

.‘|for-one splitup for the. capital stock | of Homestake. Mime Co. had. roe :

stock as a to the New York Stock Exchange. i

: Roughs, Lambs

HOGS CONTINUE SUSTAINED RISE:

TAKE $11.75 TOP

‘Sensational Gains at Chi-

cago Neglected in 10Cent Advance.

espite further sensational gains in hog prices, particularly at Chicago, where the top was carried to $12, trade locally cooled off considerably from yesterday's hectic session, according to the Bureau of Agricultural Economics, U. S. Department of Agriculture. Prices here again worked higher, but the upturn amounted to only 10 cents,. which pushed the top to $11.75. The gain was applied to weights above 160 pounds, whila light lights and pigs were steady. Sows were 10 to 25 cents higher, top 810.75, with bulk moving at $10 to $10.50. Receipts were again light. For the size of the run, there was

ta fairly liberal showing of good and

choice steers. Demand continued as good as on Tuesday and the previous day's gains were maintained on steers and heifers. . Cows ranged strong to 25 cents higher, while bulls were weak to 25 cents lower. Nearly to loads of choice 1225-pound steers sold at $13.75 to shippers to. set the day’s top. There were two loads of weighty bullocks at $13 and a load of 1200-pound weights at $12.25.

Vealers Adjusted

Vealers worked out of their low relationship with nearby centers today in a 50-cent higher trade, with little resistance from any of the buying side to the ‘advance. Active trading began early at $9.50 to $10 for good to choice vealers. Lamb supplies continued in too limited numbers to test values, especially in the upper price brackets. A few medium to good spring lambs brought $12.50 and there was a small lot of around 85-pound native wooled offerings at $12, but old

! sheep comprised most of the meager

REPORTED IN *36

supply.

May 13. 13. 14. 1 v

Receipts 500

arGesoued

SD) — o -1 o

DANO W=1 amour’

©“ bp fd fb pt

—o0oOoo® TE oun ta ft ht eb

SRY QD) Si oY =

iL 18. 1 15 Light Ligh (140-160) ood Sra Mediu

Lightweights (160-180) Good and Tedium (180-200) a and Medium Medium Weights— (200-220) Good and (220-250) Good and Heavvweights— (250-290) Good 1290-350) Good Pac Bone, Sous

choice. : choice...

choice . choice. .

choice. . 457 11.65 choice... 11.35¢211.50

. 10.50@ 10.75 250 2% od... . 10.25% 10.50 42; -55 . 10.00@ 10.25 275-550) Medium 9.35G10.50 Slaughter Pigs— [email protected]

(100-140) Good and 0 Medium [email protected]

and and

(2 Ln (

—Receipts, 800— (550-900) G

“@ —

(900-1100)

hs CWNOW-IWO LI ~TN WO =

(1100-1300)

edt

(1300-1500)

=I NN TJD NNO OU

PIII NO MND DDT NON NNODODDDD

——

(500-750) C

Good and ‘choice’ . Common, medium.

(750-800)

Choice Good Common and medium Low cutter and cutter Bulls, god Cutter, com. Vealers

—Receipts, 700—

Good and choice .

Medium Cull and common .,

Calves

(250-500) Good and choice. Soamon. medium der and Stocker Cattle (500- 800, Good and choice $ 7.f Common, medium. (800-1050) Geog and choice mmon, medium

Heifers— Gocd and choice .. Common and medium ....

SHEEP AND LAMBS

—Receipts. 300— Shorn Lambs—

89 8393 €9 on Sao oo

woolea Bves— (90-175) Good and choice. . ommon, medium.

By United Press

CHICAGO; May 19.—Hogs— -Receipts, 8000, ne 2500 directs; market, 35 50c higher than yesterday's average; packing sows, 25@35c higher: bulk g00d and choice 200-300 lbs., $11.65@ 11.90; top, $12; comparable 150- 190 lbs.. [email protected] mostly; bulk good packing sows, $10.75@ 11.10; pigs in limited suep y; choice strongweights UpSare to $11 and bette Cattle—Receipts, 9000; elves, 1500; apparently an extended run good and choice ong yearlings and medium weights and weighty steers here, kind of value to sell at $11 up on yearlings and $12 up on thin pe ht and weighty steers; undertone weak oc lower on bulk of crop grading good Yd better; common and medium grades scarce and steady; early top Yel zhty bulfew loads, $13@ .15: not a I other classes fully steady. except bulls; this class weak at $6.50 down on weighty sausage offerings: lightweight fed heifers very active at $11.25. down to $9.50, with common and medium grades $7@9; stockers continue slow, scarce; vealers strong,

top $10. Sheep—Receipts. 4000. including 1500 directs; clipped lambs mostly steady: good to choice offerings, $10.75@ 11.25; load medium shorn Texas offerings, $9; scattered native spring lambs strong to higher. extreme op $13.75 to small killers: sheep.. steady: orn ewes. $4.50% 5.25 mostly 20c higher: 225-2 50 1bs., $11.50; 250-275 ibs. : $11.30: 180-200 Ibs. 5 $11.10; $10.50; $9.99; 1bs.. $9.40. Calves, $9.

HS agnrket, i 1,[email protected]; 275- 335 bs.

89.50: stags, $3.25.

LAFAYETT TTE, May

10 to 25¢ fighe; 210- EH eg, 235-275 40%, 11.50; Ss

' Spring lambs, $110

12; ‘$9 down

BANK TO REPAY HALF

By United Press WASHINGTON, May 19.—Recon-

clipped lambs,

‘struction Finance Corporation

Chairman Jesse H. Jones announced today that the RFC has agreed to loan $15,265,279 to the receiver of the Guardian Trust Co. of Cleveland to permit an additional 20 per cent distribution to depositors. The depositors already have received dividends totaling 30 per cent.

| Cons Oil 312s 51

Bank Official |

| i | |

PROFIT-TAKING HALTS CHICAGO WHEAT ADVANCE

Corn Continues Firm on Ready Buying of ‘Offerings.

Harry E. McClain, former State Insurance Commissioner, today bhecame Union Trust Co. insurance manager, according to an announcement of Arthur V. Brown, president. After June 1, Mr. Brown said, he is to be assisted by L. D. Swisher, who was a prominent member of the State Insurance Department under his direction.

N.Y. Bonds

By United Press . BOND PRICE INDEXES 20 20 20 60 Indus. “Rails Util. Bonds 94.2 101.2 95. 95.4 101.8 96 96.6 102.7 9%. 90.8 105.2 95. 70.0 97.3 87. 101.2 © 106.0 100. 94. 101.2 95. 100. 106.2 100. 84. 103.5 93.3 361 103.8. 93) 71.0 89.3 83.0 Standard Statistics Co.)

Yesterday Week ago Month ago Year ago L 90. Two years ago. 87.; 193% high ..... 93.0 1937 low 91.6 1936 high 1936 low 1936 high 1935 low (Copyright,

wn 92.3 . 92.

=) =F WJ Dap

i“

. 90.0

193%,

5. GOVERNMENT BONDS Treasury Bonds

Low. 106.12 100.8

Last, 106.12 100.12 97.11 - 97.11]

314s 2148 15% Se 43 212s 1933-49 3s 1955-51 .. 102.10. 102.10 278s 1960-55 . 100.117 100.11 Federal ‘Land Bank k ponds

July Jan. 8 May 1 +5 May July Nov. May May Nov. Federal Farm Mortgage Bonds High Low 102.18 102.18 101.27 i Owners Loan Bonds 29s 1949-39 100.1 2148 1944-42 99.13 DoMEatic BONDS Alleg Corp 5s z Anaconda C ha 50... At TSF gen 4s 95 Atl Coast 1, 4'2s 64 .... B & O 4':s 7 Can Pac deb 4s ‘perp 93 Cent 11 EI 5s 51 .. .10034 Ch M & St P&P 5s 75. . 2912 Ch M St P&P 2000. 934 Chi N W 334s 18% 1817 1 CCCStLref 5s D 83 10512 13s 13- 2 Jos 13-32 CCC St 1, 4's KE 77.... 9 933 Clev Un Ter 5s 73 10814 10034 105 1

“wo dO

Nr rIN

wwmD MDD = ND = OD

Last 102.18 101.27

100.1 99.13

9934

9915 a 105%

Cons Edison 3'zs 46 ... Den Rio G W 5535 Erie ref 5s 67 Gen M Ac 3s Goodrich 6s 45 Gt Nor 4s G Gt Nor 4s . Int T & T 42 2S 52

Keith Tot 6s A 46 Lig & Myers 5s 51 McCrory 8 As 51 .... Mo Pacif cv 5l2s 49.... 147 Mo Pacific 55 I 81 a NY: Cent ref. 5s 2013 ... NY NH & H 413s 67.. Penn Co 4s 63 Pa P&L 4!as 81 Philippine R 45 37 .... Postal T- & C 53 53.... 2 Shell Un. O 3148 51..... So Pacif col 4s 49....... Se Rwy 65 A 56 9 Sou Rv gen 4s 5 US Rubber 5s 47 Va Ry Co 334s. 66 Warner Pros 6s 39. West Union “vs Young S on Tas 61. if 8

FOREIGN*BONDS

101

Argent 4'55 T1 Canada 3'ss 61 Cuba 5'2s 45 Norway 4s 63 Peru 6560 ............

NEW BOND ISSUES

(By W. L. Lyons & ey)

id. - Ask. 891g 89% 10572 10054 93

Argentine Reép 4s ’73.........

Celotex 4lzs "47 Cent Maine Pwr 4s 60 Cent Maine Pwr 3l35 66 Cin G & E 32s 66 Dom Canada 3s 67 Fla Power 4s 66 Fal Power 5s 66... Houston Lt & Power 3123 66.

Kansas P & Kopers Co 4s 51 Los Angeles Rev 3'2s 1. Louisville G & E 32s 66

N Y Stafe Elec Gag 4s 65 ..... Northern State P 32s 67.... Ohio Edison 3%;s 99! Okla G & E 4s 46 ar Okla Gas & E Inc us 66. .e Pac Lighting 4':s 45 no Phila Elec 3's 67 Sou Kraft 412s 46 Sou Poll Tel 345 62.... ‘ Wise. G & E 3125 66.....0.... Wisc Pub Srv 4s 61

BROKERY’ OPIN IONS

By United Press NEW YORK, May 19. —Brokerage opinion today: E. A. PIERCE & CO.—An improvement in vesterday’s news coincided with a strengthened technical position to produce a good rally and we would anticipate further immediate progress. SHIELDS & CO.—Legislative uncertainties, threat of labor troubles and the fact that trade activity is

10215

rounding out ‘a seasonal peak is not | much stimulus to renewal of im-

portant buying leadership: FRAZIER JELKE & CO.—We think the market will rally further, chiefly because it is still oversold; but we would not overlook the fact that shares recently released by people who could hold them no longer (especially foreigners) have not yet found permanent owners.

J. S. BACHE & CO.—The appar- |

ently increasing resistance to decline may be significant ‘ enough to permit at least a tentative inference that the approximate area of the recent lows continues to represent a broad support zone for at least a better sustained recovery.

BEMIS LETTER SERVICE

315 Merchants Bank Bldg.

TYPEWRITTEN LETTER: AUTOMATICALLY (YPEL ADDRESSING & MA(L:NGC MU .T GRAPHING stencies cud MIMEOGRAPHING RU.ED FORME ur To 14 X 20" TWO NOTARu!

LI-6122

INDIANA LAW SCHOOL

or Indianapolis)

Established 1894 . DAY AND EVENING DIVISIONS ; Write or :Call Regist 303-334 State Life Ides : APOLIS

Co. lyin, ith ral f the Supreme Cours * aa "the Am rican Bat Passo.

LANDERS & LANDERS INSURANCE

Jackson K. Landers Mgr. Careful Personal Attention Given to the Businges of Our Brokers, Agents and ‘Their Clients, 814 1 Merchants Bldg:

{ BY United Press CHICAGO, May 19.—Profit-taking

| on the opening bulge halted the up-,

| Ward sweep of wheat prices on the i Chicago Board of Trade today, deFeoite bullish news of crop damage | in Kansas and Texas and high dust | storms in Canada.’ | In the final hour, wheat futures, which had early gains of 7: to 1% cents a bushel, sold. off to losses of ’% to 7% cent, while corn was A higher 0 °s lower after earlier gains of 5 to 1%; cents. Rye was firm, May rising more than 2 cents, - Profit-taking sales on the early bulge erased a narrow portion of the early gains in all futures, but reports from Texas which indicated a reduction of from five fo 11 million bushels in the probable wheat crop

market. B. W. Snow, crop expert, today reported that high. hot winds in the Southwest are rapidly cutting down subsoil moisture supplies and if continued may cause complete crop collapse, Corn prices continued firm with early selling of July through a commission house easily absorbed. Some buying of September corn against sales of September wheat were registered.

WAGON WHEAT

grain elevators are paying $1.23 for red wheat, other grades on their ASL Cash corn. new No. 3 yellow, $1.13. Oats, 47c. Hay—No. 1 timothy, [email protected],

ARGENTINE GRAIN

BUENOS AIRES, May 19.—Grain futures gpeneq ‘irregularly higher. Wheat—June, 81.23%, up Ya: Vv, $1.21'%2, unchanged. Bian f . a. July. 5512, une changed. vy. 313%, unchanged, Flax—June, Sl. 3312, unchanged: July, $1.3312, unchanged.

WINNIPEG WHEAT

42% 1.333%

MON EY MARKET

NEW YORK. May 19 —Money rates were unchanged today. Bahiel's Acceprances — 30 “2 71-16%. 60 and 90 days, 120 days,

9-16@15%; dass” %@9-16%: 150 and 180 Yate

Oe eereial Pa er—Prime names. 1%. Time Money—6 and | 90 days. 1% %; 120, 150 and 180 days, 1% Rediscount rate at ‘New York. 14%.

FOOD PRICES

CAGO, May 19.—Apples—New York, $1. Nr 15. Sweet Potatoes——Louisiana Puerto Ricans, $2.65. Carrots—Illinois, bu., $171.25. Spinach—Illinois, bu., i5e. Tomatoes—Texas, lugs, $2782.75, Cauliflower—California, | crates, $1.40@ 1.60. Peas—California, hampers, $1.85@ 2. ery—PFiorida, 10-inch. crates, $2.25@ ions (50-1b. sacks)—Texas yellows, Texas whites, $1.15.

CHICAGO PRODUCE

Eggs—Market, unsettled; receipts, 39. 309 cases; fresh graded firsts. 21c; dirties, 1834c; curent receipts. 193ac; checks, 18%¢c: storage-packed firsts, 22'4c; storage-packe extras,. 22'-c; extra firsts, 21%e. Butter—Market, steady; receipts. tubs; extra firsts (90-91!» score), 29@ 2915c; extra (92 score). 30c: firsts, standards, 29c: specials. 30!'>@3lc. Poultrv—Market, steady to firm ceipts, 37 trucks, 2 cars: ducks. eese. llc; broilers, 234 24c: 8!2c; Leghorn hens. 10m 141,c: ers. 12c: turkeys. 132 16c: il chickens, 24@28c:

20 Cheese—Twins. 15% @15tac; 153, @16c: Longhorns, (15314 16g.

PRODUCTION OF OIL SETS NEW RECORD

TULSA, Okla., May* 19.—Oil pro= duction in United States fields soared to a new all-time record last week, reaching 3.549.821 barrels daily, a day, today. : Louisiana alone in the mid-con-tinent area reduced its output. Oklahoma was up approximately 15,000 barrels with a daily avergge of 660,650. Texas climbed from 1, 394,839 of the previous week to 1,= 421,339 barrels. Kansas had an ine crease of approximately 12.000 bare rels with an output’ of 198,475. Arkansas was up slightly with 27.425 barrels. Louisiana slumped from 252,740 ) barrels to 243,125 daily.

RETAIL ADVERTISING "INCREASES IN WEEK

By United Press CHICAGO, May 19. — Retail dise play advertising in newspapers of 77 leading cities rose more than 2, 000,000 lines in the week ended May 8 to a toal of 24,950.452 lines, Ade vertising Age reported today. This compared with the preceding week's linage of 22,167,533 and with the 22.912.988 lines reported in the corresponding 1936 week. Linage for the year through May 8 amounted to 371,196.420, a gain of 6.2 per cent over the 349,115443 lines in the comparative period of 1936.

Days,

3. On $1. 5

Ite li@16e: hens. 143 old roost= fryers. 25@ barebacks,

Daisies,

the Oil & Gas Journal said

SAFE DEPOSIT BOXES

Reasonable Rental

Security Trust Co. 130 E. Washington

Eh \ ‘PLAN ua AWARE --OHIO

there gave a firm undertone to the -

Cel="

14,148 30'2¢;

an increase of 53,724 barrels