Indianapolis Times, Indianapolis, Marion County, 3 June 1937 — Page 14

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CTOMPLET N. Y. EXCHANGE STOCKS

PHE INDIANAPOLIS TIMES

The Times Financial and Market Page

s% .

COMPLETE LOCAL

= LIVESTOCK

GOLD UN SOFTEN TRADE

London Bullion Sales Set New All-Time Record.

By United Presz | NEW YORK, June Stocks made an irregular de- | cline today. Losses a were fractions to a point. A]

ON Ds.

" few sank further.

Railroad shares were leading Aa late recovery after noon, but trading was still light. i Uncertainty over the Administration gold policy still was an important factor. In London, as reports circulated- that tripartite authorities would issue a statement possibly next week, the largest single day's. offering in the history of the gold bullion market—a total of $12,665,000—was soid. Washington stiil denied the reports. Gold Fund Swells : An overnight increase of $35,927,415 in the Treasury's inactive gold fund sent the Government's total gold holdings above 12 billion dollars, more than 52 per cent of the estimated world’s monetary gold reserves, the Treasury's daily statement- for June 1.revealed today. Alleghany Corp. preferred stock, without warrants, dropped 57s points to 44, Declines of a point or more were: noted in American Smelting, Atchison, International Nickel, Southern Pacific and U. S. Steel. Several issues moved higher. Lima ‘Locomotive sold 2 gs up 1%; Otis Elevator 38%:, up “i; Union Carbide 10114, a op 1, and Goodyear 381, up !: Bonds decited quietly and irregularly under lead of rails and utilities. While Merritt-Chapman & Scott preferred was rising three points on the Curb, Jones & Laughlin Steel and Aluminum Co. of America lost two.

FIRST HOUR

Stocks opened with an easier undertone, chief losses coming in steel and nonferrous metal issues. | ‘Trading was dull. Prices improved slightly from their lows but U: S. Steel had a point loss at 97%. American Smelting was 112 lower at 87% while Anaconda and Kennecott shgwed losses of almost a point. Atchison led rails with more than a point loss while Southern Pacific an Chesapeake & Ohio were off fractionally. | Utilities were fairly quiet. , BS = Volume | approximated 139,600 shares compared with 170,000 in the first hour yesterday. Dow-Jones averages: Industrial, 172.17, off 0.46; railroad, 55.92, off 0.34; utility, 27.55, off 0.05.

SECOND HOUR

Prices remained fairly steady and trading still was dull, U. S. Steel had 113 loss at 972s and other steel shares were soft. Anaconda retained 7% loss at 527s and American Smelting 114 loss at 8712. Southern Pacific was a point lower at 50 and New York Central 3: lower at 43. Chrysler retained a fractional loss. New York Steam preferred issues were strong, the 7 gaining 6% points and the 6 up 73:. Allegheny Corp. exwarrant sold at 44, off 57% and Maytag preferred exwarrants at 35, | off 9. Volume approximated 80,000 shares compared with 90,000 in the second hour yesterday. Dow-Jones averages: Industrial, 17,92, off 0.71; railroad, 53.98, off 0.28; whith, 21.51, off 0.10.

s 2

Today's Business At a Glance

GENERAL BUSINESS

Edison Electric Institute reports week ended May 29 electric output | 2,206,713,000 kilowatt-hours, VS. [2,196,646,000 previous week and 1,954,830,000 year ago. | Engineering News-Record. reports | construction awards this week, $35,- | 606,000, vs. $43,305,000 year ago.

CORPORATION NEWS

four months ended April 30, nes | profit, $757,646, equal to $1 a share vs $470,721, or 63.cents, year ago. Celotex Corp., six months ended April 30, net profit, $715,931, equal to $2.39 .a common share, vs. $232,480, or 59 cents, year ago. Ex-Cell-O Corp. (formerly Ex-Cell-O Aircraft & Tool Corp.), first quarter net profit, $108,837, equal to 28 cents a share, vs, $2,221, or less than 1 cent, year ago. National Cash Register Co., May gross domestic orders, $2,905,200, vs. $3,070,125 year ‘ago. Neiwsner Bros., May sales, $2,108 - 954, vs. $1,936,579 year ago, up 8.9 . per eent; five months, $7,781,150, vs. $7.343,623 year ago, up 7.2 per cent. San Diego Consolidated Gas & Electric Co., 12: months ended April 30, net income, $1,460,382, vs. $1,313,288 in previous 12 months.

DIVIDENDS

General Time Instruments Corp., special 25 cents and regular quarteriy 25 cents on common, payable July 1 record June 16. Mead Corp,, 50 cents on common, payable Juge 30 record June 15, first since 1931. Natomas| Co., regular quarterly 20 cents, payable July 1 record June 1

2. Reynold Spring Co., 25 cents on common, payable June 29 record June 15, vs. like payment on March 29 - American Rolling Mill Co. 50 cents on common, payable July 13 record June 15. Company paid "0 cents in previous quarter. : Deisel «- Wemmer - Gilbert Corp., regular quarterly 25 cents on common, payable June 25 record June 15. Fanny Farmer Candy Shops, regular quarterly 25 cents on common,

RTAINTY MARKETS;

TILL DULL

@®

# 8 2

MARKETS AT A GLANCE

Stocks irregularly lower in dull trading. Bonds lower; U. S. Governmen issues irregu'ar. Curb stocks irregular after early easiness. Chicago stocks irregularly lower. Call money 1 per cent, Foreign excrange lower; German mark at new 1237 low. Cotten 10 to 12 points lewer in quiet trading. Grains lower at Chicago; new corn July off 2 cents a bushel. Rubber 38 to 50 points lower. Silver bars in London up 1-16 at 203: pence a fine ounce,

Curb Stocks

By United Press

& » wra WHO JWIBINS =I =I

G Baldwin tun B rts. Ber Gay Fur Carrier Corp Cities Serv Col O&G N } Con Cop Mns.......... Cooper Bes : Cord Corp Creole Pet ..... Eagle picher L El B & Sh Eauity Cp . Fisk Rub pf . Grd Nat Films . Hurnie 2 cede Imp O . Jones a Stl... Lion Oil McWms Dredge Mesabi Iron | Mich Bumper Mont

| Nat Rub M

n Niag H Pwr .. PS Co Ind $6 pf Root Petro S O Ohio (I)..... Technicolor .. Un G Corp

Advance Alum Cent & SW Ut Chicago COIrp .....ovu.. Cities Service Fuller Mfg Gen i{Fnance Lindsav Light Lindsav Lt of ...... ae Mid West Cerp Mid West nf ww.

ny 00 000.5.L3 0 Hi U1 03 in Nae

mon, payable June 25 record June 15 vs. like payments in previous quarters. Gulf Oil Corp. 25 cents payable July 1 record June 15 vs. like payment on April 1. C. M. Hall Lamp Co., 10 cents on common, payable June 15 record June 10|vs. like payment on May 5 and 20 cents in December.

Jersey Central Power & Light Co., regular quarterlies of $1.75 on 7 per cent preferred; $1.50 on 6 per cent preferred: and $1.37'2 on. 5!%2 er cent preferred, payable July 1 record June 10.

Locke Steel Chain Co. extra 20 cents and dividend of 20 cents on common, payable June 25 record June 12 vs. like payments on May 1. Marlin-Rockwell Corp., regular quarterly 50 cents on common, payable July 1 record ‘June 19.

Midland Oil Corp., 25 cents on $2

June 10 vs. like payment on arrears on March 20. L. S. Starrett Coc., $1.75 on -2nmon, payable June 26 record June 16 vs. 35 cents each on March 30. Dec. 30. and Sept. 30, and extras of 40 cents on March 30 and 25 cents on Dec. 30. American Agricultural Chemical Co. of Delaware $1.50, payable June 30 record June 16 vs. $1 on March 31 and $1.75 on Dec. 23. American Snuff Co.. regular quarterly 75 cents on common, payable

July 1 record June 10.

Babcock & Wilcox Co. quarterly $1, payable July 1 record June .19 vs. like payment on April 1. General Printing Ink, 30 cents on common, payable July 1 record June 17 vs. 60 cents on April 1 which was prior to 4-for-1 split-up. Guaranty Trust Co. of New York; regular ‘quarterly $3' for quarter ended Jungt 30, payable July 1 record June 4. Houdaille-Hershey Corp. 37 cents on class “B” payable July 1 record June 19 vs. like paymeat on April 1. Merchants & Miners Transportation Co., regular quarterly 40 cents, payable Jung 30 record June 16. Selected Industries . Inc.,, 37% cents on $1.50 cumulative convertible arrears, payable July:1 record | June ‘16 leaving arrears of $7 per share; also regular quarterly $1.371% on $5.50 prior stock payable July 1 record June 16. Square D Co. 35 cents on class “B” common, payable June 30 record June 20 vs. 25 cents on March 31.

‘| Balt

| Deere of

preference, payable June 18 record | Mu

LATEST NEW YORK STOCKS

Net High Low Close Change

Air Redue ..... — Ya Allegh Corp

Allied Mills Rts Bk Not Enc Til

Seating .... 5 Stl Fdies ..

T Water W Am Zinc Anaconda Arm Ill Atchison Atl C Line .... Atlas Corp Auburn Auto ..

& Ohio ... 30 Beld Hem Beth Steel Boeing Air .... Bohn Al Br .... Borg-Warner .. Bdgept Brass .. :lyn-M T ... Bucyrus-Erie . Budd Wheel .!. Butte Cop

Calumet & H ,. Campbell Wy |. Can Pacific I Caterpillar T . Celanese Celotex Cent Aguirre .. Cent RR NJ . Ches Corp cee Ches & Ohio Chi Mail Order | 7 ChMStP&P pf | Chrysler 11012 Colgate-P-P Colum Gas .... Col Carbon .... Com Credit .. Commonw & So 214 Cons Edison 35Ya Cons Edison pf 103% /8 Cons Film Cons Oil Container Cont Can Container rt .. 1 Cont Oil Del] 43 Crane Co ... 43 Crane Co pf 1110334 Crane Co cum..116's Crane Co rt .. 9-32 Crown Zeller .. [19% Curtiss Wr .... 53 Curt Wr A . 1372 Crown Zeller ‘pf 99's —D— 27% 38%; 5673

383% 567% —E— 169 169 3834 3834 47%

Dome Mines |... Douglas Air |...

East Kodak |.. Elec Auto L ... Elec Music Ind. Elec El P & £ $6 pf.

Follsanbee ... Freept Sulphur.

Gen Am Tr ....

Gillette S R ... Glidden . Goebel Brew ... Goodrich ced Goodrich pf ...

L852 L271

Greyhound pf. 109

Hall Print .. .. 16 Hollandr & S.. 253% Holly Sug 3 Houston Oil Howe Sound Hudson Mot .... Hupp Mot =....

Ill Central .... Insp Cop Inter Iron Int Ag nr pf . Int. Harv .. Int Nickel ... Interchemical ..

LOCAL ISSUES

The following quctations do not represent actual bids or offerings. but merely indicate the approximate marker level as furnished bv the brokers nam (By Indianapolis Bond & i Corp.)

BONDS

Bid ge Jind Te] (TH) 4Y%s 61. ese 99 & T '55. ---103%2 10 Ya 98

62 | 98% 97

Ask

Ind Assoc Te! 4's Indiana Tel Co 5s 60 Indpls Railway Ins 5s Indpls Water Co 3'2s '66 Interstate Tel, & Tel 5% Kokomo Ruhner Packing Co 4's — 97 Morris 5 & 10 Stores 5s ’50...100 uncie Water Works 5s 65... Noblesville H L & P 62s '47...102 Ohio Tel Serv 55s ‘47 Richmond W W . Sevmour Water Co 5s "49. T H Trac & L. 5s T H Water Works 6s '56. T H Water Works 6s '49. Trac Term Co 5s '57

STOCKS

Belt Railroad & St Yds com.. § Belt Railroad & St Yds pfd ent Ind Power pf T¢ ome Tel & Fi Ft Wavne.... Hook Drug In “ Ind & Mich Elec Co ofd 7s...1 Ind Gas Co com Ind Gen Serv Co Ind Hydro Elec Co 7s Indpls Pwr & Lt Co pfd 6s .. Indpls Pwr & Lt Co pfd 6'2s.. Indpls Water Co pfd 5s : Lincoln Nat! Life Ins Co com. N Ind Pub Serv pf Ts N Ind Pub Serv Co pfd 6s ... N Ind Pub Serv pfd 5's P R Mallory Co com Progress Laundrv Co .... Pub Serv Co of Ind 6s.. Pub Serv Co of Ind Ts. Smith-<Alsop pfd Smith-Alsop com ‘eos Terre Haute Ele¢ Co 6s. . JARRE Union Title Co com ... ve: Q Van Camn Milk Co pfd ...

van Camp Milk Co com ...... 10%

(By M. P. Crist & Co.) Market St. Investing Corp... 33.58 35.71

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 full case of eggs must weigh 55 pounds gross.)

a Bggs—No. 1 strictly fresh, loss oft, 15¢ 0z.

5 Ibs. and over, 13c: Leahorn hens. 9c. Heavv breed broilers. 1937 stock, 2 lbs. and over, 20c. Leghorn broilers, ‘1937 stock, 2 lbs. and over, 18c Bareback brotlers, 1937 stock. 2 lbs and over. 13c. Old roosters, 8c, Ducks. fullfeathered and fat. 6c. Geese full-feath-ered and fat, 5 Ibs. and over. 5c.

Butter—Creamery, No. 1, 34@35¢; i 3} hari! Butterfat—No. 1, 30c: ' C.

Heavy breed hens,

No No

For Final Stock Quotations See Later Editions of

The Indianapolis Times

Week ago . Month ago ......149.74 | 1937 low

inuex

Today $1.21% 1.29% 1.0134 S13

6.875

Commodity— Wheat, No. 2 red (bu.) Corn. No. 2 vellow tbu.) Rye. No. 2 (bu.) Oats. Neo. 2 white (bu.) . Flour, spa. pat. (196-1b. sk.).. Lard. prime steam spt. (Ib) .. Coffee. Rio 7s spt. lb.) Sugar, raw 96 cest (1b.) Butter. 92 score «Ib.) c@eooce Hogs, avg. most sales Ib.) see

093%

31 1135

payable July 1 record June 15. | Flipikoie Co., 25 gents. on com-

Sle gt. Jue tu ales Ae) oe

Following are the commodity prices used in compiling the

A247

,0335 °

Commodity—

116.89 | Cotton. Midupland

(Jan: 29)..141.47 Lead. ‘Zino.

tih.) tb.)

spot spot

Week Ago

$1.27 1.385 1.16 S43 7.125 A245 09% 0335 31 1135

Yeat Ago 92 63% BS9% 28% 5.975 A013 06% 0372 284 0985 °°

Silver, $ Steel. Coke. Connelsville Cement.

Lambs. avz. most sales (Ib.) .. Hides. native heavy steers (Ib.) Wool. fine unw. comb. (Ib.) ... (1b.) Silk, 13-15 deniers Jap (Ib. .. Rubber. spt smk. rib. Copper. electrolytic lb.)

Tin. Straits spot (1b.) ... commercial bars scrap. Chicago Pig iron. Iron Age comp. (ton) (ton) dom. Portland Yellow pine. 6-in. base (m. ft) Douglas tir. rough (m: ft.) .. Gasoline, tank wagon (gal) ... Crude Oil. 40 gravity (bbl) Source c¢f Quotes—Chicage: ‘seran’ and hides. Boston: | Coke, Tulsa; Crude oil New. Yorks Al others,

By United ’ress

DOW-JONES STOCK AVERAGES 30 INDUSTRIALS

41.04 +0.49

Yesterday. Week ago Month 220 ....c.....u... ees 793.81 +1L.M4 Year ago 1149.39 —2.14 High, 167.486. High,

1937, 194.40; low, 1936, 184.90; low,

20 RAILROADS

Yesterday Week ago Month ago Year ago

High, High,

1937, 64.46; low, 1936, $59.89; low,

20 UTILITIES 27.61 10.05 28.03 40.02 29.50 —0.07 30.76 —0.35 27.04. 28.63.

Yesterday Week ago Month ago Year ago High, High,

1937. 1936,

37.54; 36.08; low, STOCKS 61.20 61.89 63.59 53.99 60.25, 51.20.

+0.29 40.01 + 0.59 —0.35

Yesterday Week ago Month ago Year ago High, High,

1937. 1936,

69.67; 66.38:

low, iow,

Net Loy ! Last Change

1012 rl 2002 + A Ya. + Ya 273s

— Ly

High IntP&P P& p° pf. 10d: DS 20!

Kennecott Kresge 8 S

i +E +EE

Lorilalrd . Lou G & E A..

McKeesport ....'35 Macy

111+

N Moetville Sh... Miami Cop.. Midcent Pet. Minn Hny Mission Corp

73 171% 28 103 26% 7 26 85% 90 503% 40

28 2.08 . 26% HE

pid dda

No Pacific

Ohio Oil Omnibus Otis Elev Otis Steel. ..

Proctor & Public Serv Pure Oil

Radia

m-Ra Roman Sti ja Reyn Tob B....

INVESTING CO.’S |

(By N. Y. Security Dealers Assn.) Bid Ask) Bid | |Ask 18.11 19.27{[nc Inv.. 3 1» 26.2 10.97/Ilnv Fd C 1 28.75|Keystone, ¥ £ 1.28}Md Pd .. 9.34 8.25 Mass Inv 27.56 10. 37M Inv. 15.68 «+e. :{Natl Inv, ' 7.02 73 N tw sec. 4.33 36.60) '’ vig . 1.98 22.87 New Rong 18.20 . 26.95'N. Y. git 1%,

33% 50% 334%

Adm Fds Affil Fd. Amerex . :

wr ns AR Eat 35. 00, Steel IN 1953 8 85] ” Ross .

.IRe 1.35 I 90| Sehikoptt 4.12 2.04 is A Inc. 14.19 28.71/*Sp Trk. 20.47 30.75/Sup_ A .99 eas

Ioan

.63 Gen Inv. 6.70 Gronp Securities 1.89 2.05

a oe Bldg ... Min ... Pet hls RR Eat. Inv Shr.

:| FOREIGN EXCHANGE

NEW YORK, June 3.—Foreign exchange | lower.

1.83 USL&Pvt 1.58) Well Fd. 18.98 pilex -div.

. Net Cable Rates Change England (pound) 4, -16 —.00'% Eng. (60- day Bh rate) . 4.91 7-16 —00%2 Canada (dolla 1.00

1 (belga) .. *Germany (mark) .. Switzerland (franc) (guilder) Spain (peseta) Sweden (krona)

saree 0003 *New 1937 low.

NEW BOND ISSUES

(By W. L. Lyons & Co. 2 Bi Assd| Tel i 83 Lo. canes 104 . Tu City 3! Yas 88... . 971% B & 0 4's ’39

Calif Oro Pry 4s ’66 Celotex 412s '47 Cent Maine Pwr 4s

Ask -104%;

6 941% Hooston Lt & Power 3hs '66 101%, Indpls Water Blas '66 993; Kansas P & L 4ls 6s Koppers Co 4s ’51 Ss Los Angeles Rey 31s Louisville G & Metro Ed 4s ’65 Narra Elec 313s "66 Ny City 3s N Y State Elec Gas. as ’65 wei 94 Northern State P '67 ’ Ohio Edison 374s 7 72" Okla G & E '46 Oklahoma G > E ioe 334s ’66 1% Pac Lighting 41) Sou Kraft 415s 4 Sou Bell Tel A 86s salina niviee Wisc G & E 3%s 66 . 100 Wisc Pub Serv 4s ’61

PRICE INDEX AND COMMODITY QUOTATIONS

DAILY PRICE INDEX

NEW YORK, June 3.—Dun & Bradstreet's daily weighted price index of 30 basic commodities, compiled for the United Press (1930-1932 average 100):

Yesterday ........144.80 | Year ago ......... vee....147.29 | 1937 high (April 5) 158.26

Year Ago $ 1125 A138 33. A197 1.49 15% 09%: 0460 0490

Week Ago $ .1225 16% 40% 1327 1.8314 201% »14 060214 .0662'% 5534 45 16.75 23.25 4.60 2.25 60.00 52.50 090

Today $ .1205 16% 40% 1325 1.81 20% J14 060215 066215 S64 45 16.75 23.25 4.60 2.25 60.00 52.50 090 1.27 1.2% Grains, livestock. lard, steel East St. Louis: Zine. Con-

(1b.)

ese

(0z.).. (ton)

(bbl.).

Wool.

High Low Se Safeway .. Seéab Air L. Sears Roe Servel Inc

ae ee OGY

IIE Yn

Stan Oil Ghd Stan Oil NJ... Stokely Br Studebaker Superior QO |.... Swift & Co Swift Intl Syming-Gould C

Tenn Corp

Transamerica

Und E Fish.... 90, Union Carb... 191, Un Aircraft Cp 2 Un Air Li Un Carbon .... United Corp ... Un El Coal Un Eng & Fdy. United Fruit .. Gas Imp |... 1 Un Paperbd | [oor Un Stk Yd J... U S Realty U S Rubber J US Steel |.;... U S Steel pf}...

mY a] DD wa

ld WERE ad

—- OO UI rare

Vick Chem |.... Va-Car 6 |pf...

we -

Wabash pf A.. 15% 13 , 56 West A Bke ... 4234 Westing El : "1383; West Auto Sup. 273% Wheel Steel ... 45% White Mot .... 231; Wilson, & Co .. 9 Woolworth .... 46% Wayne Pump .. 45%; eS Yale & T 521% Yellow Tr Ya 241, Fr 33's

Zenith Rad ... 33

WAGE-HOUR BILL + PASSAGE URGED

: Assistant Attorney General Asks Challenge to High Bench.

By United Press WASHINGTON, June 3.—Robert H. Jackson, Assistant Attorney General, today had asked Congress to enact President Roosevelt's new wage and hours measure as a challenge to the Supreme Court to over-

turn the 1918 ruling which declared the Federal Child Labor Law unconstitutional. . Mr. Jackson, assuring a joint meeting of house and senate labor committees that he regarded the new bill as constitutional in the light of recent court decisions, noted that the 1918 child labor ruling stood as a threat to constitutionality of Federal wage and hours legislation. “I have no hesitation,” he declared, “in urging that the time has come when the child labor decision should be challenged and reargued. If old decisions are not challenged by lawmakers, judicial development is arrested and advancement of legal science stops.”

Decision Cited

Pointing to the Supreme Court's action during the term just ended in reversing its position on state minimum wage laws for women and children, Mr. Jackson c:aracterized the “doctrine of the majority in the child labor case” as’ belonging “to the same dark era of legal thought as the decision holding that the minimum wage law was unconstitutional.” Mr. Jackson declared that he presented the official position of the Justice Department in his arguments for enactment of the new measure which would establish a Fedcral commission to regulate minimum wages and maximum hours in industries whose products go into interstate commerce. Mr, Jackson said that “the power of Congress to enact the bill” would be clear “except for the denial by the Supreme Court in the child labor case of the most simple and clear of all these theories.” Mr, Jackson asserted that the Department of Justice, for which he said ‘he spoke, believed it wise to enact the legislation in spite of the court's labor decision. «We owe it to our times to challenge the perversion of our Constitution injected into our law by the child labor decision,” he said. “This pill would. challenge it. We should give the courts a chance to remove this blemish from our judicial -his-

tory.”

BROKERS’ OPINION NEW YORK, June 3.—Brokerage opinion today: > E. A. PIERCE & CO.—The national planning message and the, railroad wage negotiations will ‘command greater attention during the next several days and if nothing more than a dull downward drift should occur, it would appear that that stock market may soon be in a position to discount news of a more favorable nature. HORNBLOWER & WEEKS—Second quarter earnings: results, generally speaking, should\ make favorable reading and provide an adequate background for higher prices as the time approaches for their publication. LAMBORN, HUTCHINGS & CO. —We still judge that the possibility of lower prices always be considered unless a fair demand can be built up just above the lows of mid-May. REDMOND & CO.—We continue to look for a mixed and irregular trading market with a tendency for stocks to work somewhat lower from current levels in the progress of establishing a support area. THOMSON & MKINNON—It would appear that a further period of uncertain, nervous price movements may be witnessed, but in the main holders of important blocks of stock seem to show little or no disposition to liquidate even in the face of bad news. W. L. LYONS & CO.—The failure of additional liquidation to appear, together with the duilness that has been so pronounced, seems to indicate that the market as a whole was tty v

DECLINE, LOSING

HOGS CONTINUE 1570 55 CENTS

Top Falls to $11.40; Veal Trade Has Weaker Undertone.

‘Hog prices continued to sag here today, according to the Bureau of Agricultural Economies, U. S. Department of Agriculture. A 15-cent decline of weights between 140 and 300 pounds was the result of continued liberal arrivals, the run being estimated at 1000 head, while more than 1000 were carried over from Wednesday. This downturn pulled the market top to | $11.40 on choice 210 to 225-pound | weights. A definite schedule was | set for weights above 300 pounds, almost unsalable yesterday, but at sharply lower figres, 35 to 55 cents | below Tuesday's.

Sows ranged steady to 15 cents | lower,

Cattle Trade Active Pursuing an active course, cattle

| buyers cleaned up most of the sup-

ply at fully steady prices. It was largely a steer and yearling run, but tHe activity was not confined | to these classes. Cows, Which ruled |

week, were sold in improved fashion and prices strengthened sligi:tly. There were few heifers on hand. Head and shoulders akcve the steers and yearlings was a io0ad of choice 1220-pound bhullocks at $13.25 and a load of similar but lighter animals being held at $13.50. A lower sentiment among some | veal buyers was evident, but with values at nearby centers holding support at recent levels, prices here were likewise unchanged. Steady prices were paid for iambs as well as sheep. Choice native spring lambs topped at $11, with bucks being discounted $1.

0oGs Bulk $10. 35@ 11.60

Boe ood Svar GOSS

May Receipts 26. 4000 21. 28. 29 June 1 10.4 2. 10.3 3 10.1 ail 40 Light Lights (140-160) Good a and

Lightwel hts— (160-180) Soot 2nd

(180-200) Good and Medium We ium

(200-220) Good (220-250) Good

dt ft fd fd Bt Po ft ft ft pt Pt

choice. . choice...

fh bt 1d pt

d choice.. and choice..

choice. . choice. .

on m= Sm33

(275-550) Medium Slaughter Pigs— (100-140) Good and choice.. Medium CATTLE —Receipts, 900— (550-900) G

9.106 10.10 8.35@ 9.85

Cc © (900-1100) G

C (1100-1300) Good

UIoooOoocoooULWL tt Bh ot tt bd sd pd pt BOLD 000 WW 00D NIT

M (1300-1500) G

(500-750) So

1750-9001

23238 033939 ©9993 693999395903

Pt bt fd fd pt

Good and choice. Common. medium.

ooo o

choice ......... ee ae coveS Good sure Common and medium . Low cutter and cutter Bulls. good Cutter. com.

DAU H-I0 ANNI QUOoowWo

Vealers — Receipts, $00 Good 5nd choice $ Mediu Cull ‘and ‘common : Calve 1250-5001 504 and choice. .$ mmon. medium re pos er Stocker Catt 1500- 800, Good and choice $ Common, medium. 1800-1050) Goad and choice mmon, medium

DD rd co ooo

1: 6. 9, 6 Heifers—

Good and choice . Common and medium

SHEEP AND LAMBS —Receipts, 300—

00 wrovor oO oooo

. wn bh pt

= umm 0voo pt pt

wo ooo Oo BY Ew 854

Shorn Lambsss Choic

tessersensneses:$

oo On

jon “os: \7ay ood and choice. . Common. medium.

By United Press

CHICAGO. June 3.—Hogs—Receipts, 12,000, lincluding 5000 directs; marke!, 10@ 15c lower than yesterday’s 'aveyage; packing sows, fully steady: medium grade hogs, 20 . down, 15@25c lower; | early top. $11.65; very little above § 0: most good and |choice 20-300 lbs. good and choice 160-190 lbs bulk good packing sbws, $10. 15 kinds on butcher orders Si to $10.8 or better. Cattle—Receipts. 5000; calves, 1500: best steers and yearlings about steady: yearlings an dlight steers getting best action; both local and outside buyers concentrating on steers and yearlings scaling downward from 1100 lbs.: medium weight and weighty offerings weak; best medium Foight steers from $14.25; largely $10.50@ 12.50 market with native grassers to killer at [email protected]: strictly grain fed heifers firm; 900-lb. averages up to $12.50. grassy heifers steady, but unevenly lower for week; fed heifers fone at new crop high: cows. steady: bulls, 15@25c higher; veaiers 25c higher at [email protected]: selects, $9.75: medium light off rings, [email protected]: stockers and feeders. slow: TO nailve and southerns. 25¢ under week’s Sheep—Receipts. 11.000. a ing 5000 directs. Fat lambs and springers, active; | 10@15¢ higher; native spring lambs, $§12@ 13; 17 decks. Idaho spring ‘lambs, first of season, $12.25 with 5 per cent, sort: clipped lambs, [email protected]; sheep, steady. [email protected].

AYNE, June 3.—Hogs—Market, 5 225-250 lbs., $11. 35; 250-275 | $11.15; 130-200 Ibs,,

300-350 lbs.

FT. WA to 20c lower; 1bs., $11.25; 200-225 lbs., $1 10; 275-300 1bs., $11.10; : 160-180 1%s., $11.05; Ba: 160 1lbs., $10. 25° 130-140 1bs., $9. 80; bis. 55; 100-120 1bs., $9.30; mus $9. 75; stags, $8.50. Calves, $9. ambs, $11. .

LAFAYETTE, June 3 Mogs Marke t. 0 25c lower 210-235 is

slo@1i |.

ren FEDERAL JOBS INCREASE By United Press WASHINGTON, June 3.—An increase of 6066 during the fourth | month of President Roosevelt's second Administration sent employ- | ment in the executive branch of the

Government to a post-war high of | - 835,259, the Civil Service Commis- |

sion reported today.

Colonial

Savings and Loan Association :

| Ches

210-00 had changed hands.

N. Y. Bonds

By United Press BOND PRICE n DEXES 20 20 Indus. Util. . 91.6 101.2 91.7 101.5 92.0 102.4 90.6 105.4 86.5 97.5 95.0 106.0 916 101.2 . 94.8 106.2 90.0 103.5 | 86.4 103.6 {181.0 89.3% right. 1937. Standard Statistics U. S. GOVERNMENT BONDS Treasury

Raijls 91.2 94.5 91.1 92.0 76.4 101.2 91.3 100.4 184.7

60 Bonds 95.7 95.4 96.5 96.0 86.8 100.7% 95.5 100.2 93.3 93.1 83.0 Co.

Yesterday Week ago .... Month ago .... Year Two 1937 1937 1936 1936 1935 1935 (Copy

years ago.

low high

Si 41 Mar, .... 6-44 1

July - Jan. May May July Nov. May May ae Nov. 1923. 38 .

Home Owners

1949-39, . 1944-42 1952- vo 1 . DOMESTIC| Alleg Corp 5s 49 Allg Corp 5s 44 .. m Co Del 4s 55

rs Al Coss L 4s 52 i. ref 5s D 2000. | ig Pac -deb gs perp | & Oh 32

3 3s 4s 4s 4 4 1 Ss 4Yss

234s 2Yas

Chi Un Sta Ps 63... Clev U: Ter 42s 77 ..{. Cons Oil 3'as 51 .. 101 Crane Co 3% $s 51 .. 1 Gen M Ac 3s 46 Goody T & & 55 57 Gt Nor 4s G 46 Ill Cen 434s 60 ..

Penn RR 333s 70 Pere Marq 5s A 56 .... Phil Rd Coal 6s 49 . Port G E 4's 60 Sou Ry gen 4s 56 .. .. Third Ave adi 5s 60 .. United Drug 5s 53 |... West Union 5s 60 -...

FOREIGN BO

Argent 4'%s 171 .., Brazil 615s 26-57 ..

CHAIRMAN OF BOARD

Kansas City So Control S

By United Press "NEW YORK, June 3.—Harvey C. Couch, a power in the Southeastern railways and utilities field, today had been elected Kansas City Southern Railway Co. board chairman to succeed Kenneth D. Steere who resigned. It was the third time in less than six months that the chairmanship On Dec. 31 {Steere, a partner in Paine, Webber & Co.—New York Stock Exchange member firm and former ‘brokers for the late Van Sweringens—succeeded L. F. Loree, who resigned

| thern Co. hifts.

tion with the road. The new change in board chairmanship had been anticipated. Mr. Couch, a former director of the Reconstruction Finance Corp. as well as an official of railway and utility companies, acquired a “substantial” block of Kansas City Southern stock from Paine, Webber & Co. in February. Mr. Couch also is chairman of the executive committee, having been elected to that office Feb. 25. Mr. Steere, replaced by Mr. Couch as chairman of the board and of the executive committee, retained his position as a member, of both groups. C. E. Johnston, president since Jan. 1, 1928, was re-elected to that office and all other officers were re-elected.

CRUDE OIL STOCKS FINALLY DECREASE

By United Press WASHINGTON, June 3.—The Bureau of Mines reported today that stocks of domestic and foreign crude petroleum totaled 304,971,000 barrels at the close of the week ending May

domestic and 315,000 crude stocks. : It was the first net withdrawal in crude oil stock since the week ended Jan. 23. The industry reported daily crude production during the week ended May 22 was about 3,570,000 barrels, a decline of ‘about 5000 from the previous week.

NEW BOND ISSUES (By Blyth & Co., Inc.)

Bankers Trust Central Hanover Chasez National .... Chemical Bank & Trust. . *Guaranty Trust Irving Trust Mo ae irs Trust ett National City Continental, First National, National Shawmut, National City. Cleveland FIRE INSURANCE Aetna Fire . American| of Newark Baltimore American waieie City of New Federal Franklin - Great American ... Hanover | Jiarttord Home National | Fire National [Liberty North River

in foreign

YORK. June 3.—Money rates were ed today. | r's Acseptandes po 2 days, 2@ 7-1 60 and 16@Y2%; 120 Gays! ‘a @o- 38%;° 950! “and *80 days, %@

Commercial Pa er-LPTime names, 1%. oney—60 and 99 days, 1%%. 120, and| 180 days, 1%2%. Rediscount’ rate at New York, 1%2%.

FOOD PRICES

HICAGO, June 3. — Apples—Willow | Twigs, $2. 10@2. 25. nessee, Nancy Halls, [email protected]. —TIllinois, ny .50. Spinach—Illinois, | bushel, - 10@35c. Tomatoes—TeXas, lugs, | $1. [email protected]. Oaulifiower—California," crates. [email protected]. Peas — California, hampers [email protected]. Celery—Florida, 10-inch crates, 3. 25@4. Onions—(50-1b. sacks), Zokas | yellows, $1.05; California whites, $1.1

WE BUY, SELL, QUOTE

Time 150

| CH

T. P. BURKE

' 28 South Illinois St.

ts Bank Bldg. Merchanis an Fort Swayne South

after a more than 3-year associa- |

22, a decrease of 79,000 barels in

PRESSURE PUTS PRICES OF CORN DOWN ONE CENT

Light Liquidation Occurs In Wheat but Prices Are Irregular.

By Uniled Press CHICAGO, June 3 —Wheat prices were irregular in a narrow range today on -the Chicago Board of Trade in a light lguidoting move= ment. . Entering the final hour, corn was

to 1% cents lower. Wheat was % to 9% cent higher, but rye was down 3% to 1!, cents and oats had fractional losses. : Reports of the dust storm in Alberta encouraged some buying in early trading, but the market weakened when some profit-taking sales were made. Weakness in Winnipeg induced further selling in Chicago. Liverpool weakness was | effective early, but Chicago had already dis~ counted the winter wheat crop estimate. Wheat receipts were 5 cars, A rallying tendency in corn dee veloped but was short-lived as come mission houses put pressure on December and September futures. The decline caught some 'stop-loss orders, Corn oceipty were '60 cars.

WAGON WHEAT City grain elevators are paying $1.14 for No. 1 red wheat. otuer grades on their merits, Cash corn new No. 3 yellow, $1.25.

Oats. 47c. Hay—No.-1 timothy, [email protected],

WINNIPEG GRAIN

$1.19 —% 1.11% —Y

ARGENTINE GRAIN

BUENOS AIRES, June 3.—Grain futures opened lower: .Wheat—June, $1.22%. o lic; July, $1.20%3, bff 3ac. | Corn—June, 55s. Off lac: 55'2¢, off 4c. Oats— June, 3lc, off >. Flax—June, $1.20'2, off lic; July, $1.29,

LIVERPOOL WHEAT l Prev. igh Low Close Close San 3 $1. 3204 $1.32Y5 $1.36) 223%3 1.2212 1.22'; 1.25Vs

oY: 3, v CHICAGO GRAIN Eggs—Market, unsettled; 985 cases; fresh~graded firsts; 18%c: extra firsts, 19¢; .dirtieS, 16%c: current receipts, 7% .¢; checks. 16V5c: storage-packed firsts, 20'2c; storage-packed extras, 20!.c. Butter—Market, steady; receipts, 22.119 tubs; extra firsts (90-9112 score), 29Vif@ 20%2¢; extra (92 score), 30c: firsts, 27%>@ 28Y2c; seconds. 23@27c; standards, 29%ac; specials, 30l>@31c. 46; 18@

receipts, 24.

Poultry—Market, steady: receipts, ducks, 103314c: geese, 1lc: broilers, 2 hens, - 14@17'2c: ‘leghorn hens, 13'2¢c; old roosters. 12@13c: turkeys. 13@ 16¢c; fryers tincluding barebacks (, 19@24c; spring chickens. 21@27¢c Cheese—Twins, 151, @15% i daisies, 16@

16Y%c; rns. 16616, Potatoes— (Old Stock) Supplies. lights demand, light; market, steady; Idaho Ruse set Burbanks. [email protected]; S. No. : $1. [email protected]; Michigan Russet Rurals, $1. 70, (New Stock) Supplies, light: demand, goods market, firm; Louisiana Bliss Triumphs. $2@ 2.25; Louisiana Cobblers, So 0 aS5sT sippi Cobblers, [email protected]; U. S.'N , $2. 18 Albans Bliss Triumphs. $1.75¢ YU. $1.10; California Waite Rose. $1. 950 26: 2s S. Commercials, $1.9 Arrivals, 95; on track, ie

long

shipments,

U. S. STATEMENT

WASHINGTON, June 3.—Government expen:2s and receipts for the current fiscal year through June : compared [Fith a year ago This Yea Last Yea Expenses .$6.838, 179. £98. 08 $8. 566.847. 577. 15 Receipts... 4.449.828,983.32 597,148, 2.3388,350.509. 3 03.573.6

g ; Pub. ¢=bt. 35.211. 417, 940.94 Gold res. 12, 025. 139 885.34 Customs. 446.821,856:64 To Sa s Pur. Inactive gold $35,927.415.24

31.636.058.226.88 10.401,743,734.39 356.457.581.851 Total Pur. 793.861,973.84

NATIONAL CITY BANK ACCEPTS LIFE PLAN

By Uniled Press NEW YORK, June 3.—More than 95 per cent of the eligible officers and employees of the National City Bank of New York and its partici=

patinz banking affiliates have sube scribed to a plan of group life insurance, James H. Perkins, board chairman, announced today. The plan of group protection, which became effective yesterday, was one of the most far reaching ever written since the bank has 71 branches in 23 foreign countries in addition toJ2 branches in New York City. The program is on a contributory basis, with cost shared by the bank and the insured employees. The aggregate amount of group protection is estimated at approximately $24,020,000. The plan was underwritten by ithe Equitable Life Assurance Society of the United States, which also will administer it, and by the Prudential Insurance Co. of America.

SKILLED WORKERS EARN HIGHER WAGES

Skilled workers are able to ‘come mand higher wages in present cone ditions, Martin F. Carpenter, Indiana State Employment Service die. rector, declared today. For 192 permanent jobs found by the service in the last three months, he said, the average in the unskilled classifications was $22.08, in the semiskilled groups $27.50 and among skilled workmen $39.40 a week.

BUSINESS EDUCATION

Strong Accounting, Bookkeeping, Stenographic and | Secretarial courses. Day and evening SS eyions, Lincoln 8337. Fred W. Case, Principal

Central Business College

Architects and Builders Building Pennsylvania & fermont Sts., Pols.

1 terra

DELAWARE «OHIO

P. R. MALLORY & COMPANY COMMON Special Analysis on Request

8 COMPANY

INCORPORATED INDIANAPOLIS

| RI-85385.

Bend " Terre Haute

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