Indianapolis Times, Indianapolis, Marion County, 9 June 1937 — Page 15

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8 ih WEDNESDAY,

JUNE 9, 1987

THE INDIANAPOLIS TIMES

PAGE 15

COMPLETE | N. Y. EXCHANGE STOCKS

The Times Financial an

d Market Page

Lad

COMPLETE LOCAL LIVESTOCK

}

United States - Steel Shares Ease Slightly.

5; United Press

| NEW YORK, June 9.—|

ing the’ first two hours of trading today. |

| United States Steel and Republic | 4 sed while Bethlehem -gained party a point and National was up ‘point. Wheeling Steel issues advénced sharply when directors voted to. submit to stockholders a recapitalization plan to eliminate back lividends on the preferred. The prerred stock shot up 5 points to 107 and the common was 22 points ligher at 50'2. Colorado Fuel & on rose 1'% "points to 35, and ‘land 2 points to 105 ISeveral special issues were up 1 ' 3 points. New York Shipbuilding referred rose 4!» points to 60 on Ublication of Government plans to juild a large merchant marine. The ymmon rose 1% to 12%. Nation- ] Supply was up 1% at 102%. hiversal Leaf Tobacco reached 72, I 2; International Paper preferred 151%, up 1%, and Coca Cola 164, up

Chrysler Steady

I! General Motors descended to a view low for the year at 33%, off 1%. ir Chrysler was steady. Other sers included Bush Ter al debentures at a new low of 19, off 2; gee 173. off 1; Western Union 573, 13%, and American Smelting 90, of 1%. New York Steam 7 per cent priferred was down 30%: pons at Ji

R41 and steel Yoans led a moder-2-advance in domestic corporation qnds. U. S. Government funds ‘ere irregularly lower. Selected industrial issues led an egular curb advance. |I3otton futures broke $1 a bale in on . trading today, near months ling below the 12-cent level for >-first time this year. The break S preciplinied by a bearish weekly “art. «FIRST HOUR

me market opened fairly -steady ai:er~which prices advanced in light tii'mever. Rails were prominent in ~th2 ‘advance as Atchison went to a 4, for 1% gain and Atlantic Coast Line showed a similar advance to 52. F thlehem Steel gained 112 to 87. wliilé U. S. Steel after an easy iaening, went to 102 for 5 gain. Inspiration Copper led the metal group wish 34 gain to 251%. Utilities were f arly steady. Chrysler opened unianged and then went to 112% for advance. [Vélume approximzted 180,000 siiares, compared with 150,000 in the first hour yesterday. Dow-Jones

SECOND HOUR

{Prices dipped under lead of Gental Motors which broke to a new (low for the year at 53!%,.off 11s. | Chrysler lost 3% to 112.! U. S. Steel (had 3 loss at 100%, while Bethlehem eased back to 861%. American | Smelting dropped to 90 for 3: loss {and Kennecott had 3: loss at 593 Fells maintained most of their gains. New York Steam 7 preferred broke 30%. points to 73. Coca Cola jumped . points to 164. Volume approxima ed 140,000 sh res, compared with 70,000 in the scoond hour yesterday. Dow Jones averages: Industrial, 174.15 off 0.18; railroad, 5%:11, up 0.11; utility, 27.51. qf" 011.

oday’s Business FA a Glance

~ GENERAL BUSINESS

smerican Petroleum Institute reparts week ended June 5 crude oil output averaged 3,538,150 barrels, ¢f.35,550 from previous week; gasolite. stocks 77,494,000 barrels, off 1,-

264,000 for the seventh . successive |

gecline. i {Edison Electric Tostitute reports week ended June 5 electric output 2,131,092,000 kilowats vs. 2,206,713,000. previous week and 1,922,108 year ago, HE CORPORATION NEWS | |General Motors Corp.. les to consumers in U. S. and Canada together with overseas shipments in May. totaled 216,654 units vs. 238,317 in April and 222,603 yes 5 months, 894,231 vs. 952,2

| North Pacific Railway Col, net loss, $423,076 vs. {37a 2 year

| ly. C. Peripey Co., May sales $22,€19,901 vs. $20,640, 627 year ago, up 105 per cent; five months $93,054,009 vs, $84,342,371 year ago, up 10.3 ref cent, || Universal Pictures’ and subsidiaries, 13 weeks ended May 1, net 3s, $105,069 vs. $403,966 in preding quarter and $71,393 year To. vy

Arkansas Power & Light Co., 12 ‘onths ended April 30, net income, 361,744 vs. $922,789 in previous

angingsys Public Service Co. and

30, net income, $3,135,516, equal- to 42-cents a common share vs. $2,190,54L, or $5.09 a share on combined preferred in previous 12 months. Louisiana Power & Light Co, 12 months ended April 30, net inome, $1,022,486 vs. $1,009,618 in

evious 32 onths ¥ Mohigomery

& 2

tocks moved irregularly dur- Ll

Ward & Co, May|. in his-{1

ARKET ERRATIC: GENERAL MOTORS HITS NEW LOW

# 8

MARKETS AT A GLANCE

Stocks irregular in light trading. Bonds irregularly ‘higher; U. S. government issues irregularly lower. Curb stocks irregularly Mighers industrials leading. Chicago stocks irrgular. Call money 1 per cent. Foreign exchange firm; franc under pressure. Cotton ease¥ on bearish weather report. Grains irregular at Chicago; wheat up about a cent a bushel. Rubber barely steady atten carly strength. Silver bars in London off 1-6 at 20% pence a fine ounce.

Curb Stocks

By United U’ress

French

Low Am [Cyan B . 323s Am Super Ark|N G A . Ber | Gay Pur bhai Brown Co pf ... Can| Marconi Carrier Corp Centrif P Cities Serv os Con| Cop Mns . es Cooper Bes. Cord Corp Creqle Pet Cusi El B Equity . Cp Grd Nat Films .... Gulf O Lion Oi Lockheed Air McWms Dredge Mesabi Iron .

Perfect Circle .. Prudential Ins ..... Root Petro Sun Ray Sunshine M

Cities Service Elec Tousehd ... Ill No Util pt Jey Loudon Pack Marshall Field Mid West Corp ...... Mid West pf ww .... Pict Paper Pines Wiront vais Sunstrd Mch T ........ 21 Walgreen Co :

tory, vs. $30,295,408 year ago. up 29.2 per cent; four months, $136,327,259 vs. $103,397,280 year ago, up 31.8 per cent. : Spiegel, Inc., May sales, $4,916,782 vs. $3,729,605 year ago, up 31.8 per cent; five months, $19,948.336 vs. $14,972,407 year ago. up 33.2 per cent. Sterchi Brothers. Inc., May sales, $718,113 vs. $565,622 year ago, up 26.9 per cent; five month, $2,375,278 vs. $2,005,957 year ago, up 18.4 per cent. Utah Power & Light Co. and subsidiaries, 12 months ended April 30, net income. $1,601,064 vs. $830,197 in previous 12 months. Walgreen Co. May sales, $5,664,84 vs. $5,155,428 year ago, up 9.9 per cent; five months, $27,247,111 vs. $25,031,254 year ago, up 8.9 per cent. DIVIDENDS

Aluminum Ind quarterly 10 cents} record June 30. Howe Sound Co., extra 75 cents and regular quarterly 75 cents, payable June 30 record June 21 vs. like extra on March 31. Insurance Co. of North America, regular semi-annual $1, payable July 15 record June 30. Mack Trucks Inc., regular quarterly 25 cents, payable June 30 record June 18. Virginian Railway Co., $2 on common, payable June 25 record June 14 vs. like payment on March 31. Western Electric Co.. 75 cents on common, payable June 30 record June 25 vs. 60 cents on March 31. West Texas Utilities Co., quarterly $1.50 on $6 cumulative preferred and 37: cents on arrears on the issue, payable July 1 record June 15. On April 1 company reid $1 on arrears and $1.50 quarterly. American Gas & Electric Co., regular quarterly 35 cents on common, pavable July 1 record June 11. American Shipbuilding Co., extra $1 on common, payable June 26 record June 18 and dividend of 30 cents, payable August 2 record July 15. Last previous payment was quarterly 50 cents on May 1. Bancamerica-Blair Corp. 25 cents, payable July 12 record June / 14. During 1936 company paid 25 cents on June 30 and 25 cents plus extra $1.25 on Dec. 26.

Western Union Telegraph Co., regular quarterly 75 cents, payable July 15 record June-18. Willys Overland Motors, regular quarterly 15 cents on 6 per cent preferfed, payable July 1 record June 15. Carnation Co., 50 cents on ‘common, payable July 1 record June 19 vs. like payment on Jan. 2. | Continental Bank & Trust Co, regular quarterly 20 cents, payable July 1 record June 18. "United Aircraft Corp., 50 cents, payable July 15 record July 1 vs. initial 50 cents on Dec. 15. (Copyright. 1937, by United Press)

ries, Inc., regular yvable July 15,

.| Hupp Mot

LATEST NEW YORK STOCKS

By United Press emn Bh ¢

High. Adams Ex 1 Allee pf 830 w . 48 Allied Stores .. 18 Allis-Chal Ys Allied Mills - re Fis

Cc. 31% 23% 47

Atchison HR Atchison pf Atlas Corp

Barnsdall Bayug Cig Beth Steel V Boering Air. .... 35% Borden 23 Bklyn M-T .... Budd Wheel ... Bush ‘Term ....

Calumet & H Canada Dry Celanese ... Ches & Ohio ... Chi E Il ta Chic E Ill ‘pf oa Ch M St P&

Coca-Cola A Colgate l-r Colum Gas .... Col Pictures vic gers Com Solv Cong- Narr Cons Edison Cons Edison pf. 1031 Cons 15% Con Towtile

113, 33% 14

Container RE -. Cont Oil Del gor Prod

OLY es Crane Co pf Crane rt Crown-Zeller .. Crucible St .. Curtiss-Wr

Davega cu ial 4 Ci

170 1094 El Paso Nat Gas 25 : —F— Fair Morse .... 5612 Flintkote Co Foster Sheet Freept-Sul Gen C Gen Ele Gen Gen Gen Gen Pr cee Gillette S R ... Goodyear . .... Gt North pf i Gt Nor Ore .. Grevhound Corp

— =

I++

Fri: br

21 14

45 121% 1553 812 312

Harb-Walk .... 45 Hecker Prod ... 124 Houston Oil . 15% Howe Sound ... 7812 3% wie Ill Central 274 Ingersoll R .... Inland St Insp Cop Inter Iron

Johns-Man Kroger G & B .

Leh V Coal Leh y Bp Lehm Life ED vers . Lone Star Cem.

McKess & R Mack Tr vs Martin Parry

Mission Corp .. Monsanto Toes Mont Ward .... Mother diode ok Motor Whi ....

LOCAL ISSUES

The tollowing quotations do not "epresent actual bids or offerings. but merely indicate the approximate market level as furnished by the brokers named. (By Indianapolis Bond & Share Corp.) BONDS Bid Ask Citz Ind- Tel (TH) 4} as 61... 4 Ft W 5.

Ind Assoc Tel 4'as 65 Indiana Tel Co 5s 60 Indpls Railway Ins Is on Indpls Water Co 3'2s 66 oF Interstate Tel & Tel 5'2s ye Kokomo Water Sxorks 5s 58... Kuhner Packing Co 4'2s 49... 97 Morris 5 & 10 Stores 5s 50 ...100 Muncie Water works 55 65 ... Noblesville H LL & P 6! Vos 47..102 Ohio Tel Ber fy 47 10! Richmond W s 57 . Tt 23 os 49 IT H Trac & L 5s . TH Water Works oh "56 T H Water Works 6s 49. Trac Term Co 5s 57 3 STOCKS Belt Railroad & St Yds cum . Belt Railroad & 5 Tdi pfd . Cent Ing Foverp «20 Home Tel & Tel Tels Wayne oh Hook Bs Inc 8 *Ind & Mich Elec Co pfd’ 7s .106 Ind Gas Co cum . 23% *Ind Gen Serv Co 6s

des . 89 Va! *Indpls Pwr & Lt C o pid 6Y2s 9115" Indpls Water Co prd LI ® 103% Lincoln Natl Life Ins Co com.. 28

pid 6c | 3 nd Pub Serv pfd Ries oq P R Mallory Co corm ... Progress Laundry Co ......... Pub Serv Co of Ind 65 ....... Pub Serv Co of jd 8 vrei Smith-Alsop pfd . Vain wieiste Smith-Alsop com slesei 4 Terre Haute Elec Co 6s ...... § Union Title Co com Van Camp Milk Co pfd Van Camp Milk Co com *Ex-Dividend.

] (By M. P. Crist & Co.) Market St. Investing Corp .:. 33.84

FOOD PRICES

CHICAGO. June 9. — Apples—Willow Twigs, [email protected]. Sweet Potatoes—Tennessee, Nancy Pails, 31 ®@1.85. Carrots— Illinois, Shel Spirach— THInoms. bushel, 1025 Anaesth lugs, [email protected]. Cauliflower—California, crates, $1.30621.35. Peas—California, hampers, $1.15@2. Celery—Florida, 10-inch crates. [email protected]. Onions (50-1b. sacks)—Texas Yellows, 90c; Texas Whites, $1.25.

For Final Stock Quotations See Later Editions of

The Indianapolis Times

‘Nat Distillers .

DOW-JONES . STOCK AVERAGES

' 30 INDUSTRIALS Yesterday T Week ago Month ago Year ago ... High. 193%, 194.40; low, 167.46, High. 1936, 184.90: low, 143.11.

20 RAILROADS

+0.45 +0.18 —0.31 0.12

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

64.46; low, 53.15. 59.89: low, 40.66.

20 UTILITIES

37.54: low, 27.04. 36.08: low, 28.63.

70 STOCKS

Hizh, 1937, High, 1936,

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

69.67: low, 60.25. 66.38; low, 31.20. Net Low Change 121% .

High Last

Murray

3 - >

Nat Digs

Nat C Reg A 3515

a POE

Nat Lead Nat Steel

—- A A te Lhd NO

— » oa

tel I:

No Pacific

Ohio Oil .. Oliver F Eq Otis Steel Otis S pf

Pac West Ol. Packar valk Pa Pict ... Penney

RR 415s Pons Dodg rte 11- 32 Ph Read C1 1's Phil Morris .... 82 .. 5573 B... 14's Plymouth Oil .. 273 Pure Oil 18% Purity Bak .... 174)

Reo Mot area inl Republic Stl ... 353 Reyn Tob B .

St Jos Lead ... Savage Ar vi Schenley Dist .. Seabd Air Line - Sears Roe Servel Inc Sharp & Co ... Shell Un Oil,.. Socony-Vac ... South Pac

Spencer K Spiegel Inc .... St Brands

INVESTING CO.’S

(By N. Y. Security Dealers Assn.) hd Asked Bid Asked 19.51/Huron. .. 53 1.05 11.41/Inc Inv . 24. 1.32{Inv Fd C. 15. 9s 1.22|{Md Fund. 9.47 37. 13|Mass Inv. 27.88 .13/Mut Inv. 15.90 37.13'Nat Inv 7.17 23. goiNiwd See 4. 37 27. vig. . 2.02

Brt Type . Broad St 34.72

Evdg S. v Elec Eq 12. a . 10.2 10. 0

ve 8) . 4S Div Shrs. 1.93 2.09 .87 Fidelity 27.15 29. 24. Nor ee 67.00 1st Bost. 28.87 Fix Tr A 13.13

B... 10.89 Fd Inv.. 23.80 vB... 5.69 Gen Inv. 6.84 Group ig

Well Fd.. 19.08

NEW BOND ISSUES

(By W. L. Lyons & Co.) Ass’d Tel %

2 415 Cent Maine Pr 4s '60 Cent Maine Pwr .3l5s "66 Cinti G & E 32s ‘66 ..... Cinti G & E 3!2s '67 .... Fla Power 4s ’'66 Fla Power 5s '66 i Houston Lt & Power 36s ° § Indpls Water las '66 100s Kansas P & L 4% Koppers Co 4s ’51 . 1023; Los Angeles Rev 3lss '77 ; 4 Louisville G & E 32 xe / 102 Metro Ed 4s ’ 104 10434 Notre Elec 35s 7 ¥Y City 3s 17 Zo N Y State Elec Gas 4s '65 ... Northern State P 32s 67 .

Okla G & E 4s Oklahoma Gas & Pac Lighting 4'2s '45 Sou Kraft 4lbs ‘46 Sou Bell rel Sas Wisc G & E Wisc Pub Sve is '61

BANK STOCKS (By Blyth & Co.. Inc.) —June 9—

Bankers Trust Central . Hanover Chase National Chemical Bank & Trust Taran Trust Irving Tru Manitacturers Trust . National C .. Nn “chicago . First Nat., Boston . Nat. Shawmut, Bhston’ Nat. City, Cleveland .... FIRE INSURANCE Aetna Fire . City of New York «........} oy Federal \ 41 Franklin .. Great American Hanove Hartford

National ‘Fire North River ..

S. Remichomeer CASUALTY COMPANIES

Continental Casualty Mass. Bonding & Ins. xEx-Dividend.

U. S. STATEMENT

WASHINGTON, June 9.—Government expenses and receipts for the current fiscal Jesr through June 7, compared with a vear ago This Yea Last Yea Expenses .. $6,985,636, 780. 17 $6,702,982, 397. 93 . 4,555 210.3 583. 31 3. £52. 4,794,744.93

400,859,842. 854, , . 35,272, S18 52.29 31,654,394,565.63 Gold Res. 12,098,366.985.58 10.440.228.662.37 Customs .. 15s 5.281, 6 362,677, 30%: 98

jays s Pu © Total. Pu Inac. Gold $ rs 2,453.93 $ 867.031,130.94

PRICE INDEX AND COMMODITY QUOTATIONS

DAILY PRICE INDEX NEW YORK, June 9.—Dun & Bradstreet’s daily weighted price index of 30 basic commodities, compiled for the United Press (1930-1932 average 100):

..142.98 | Year ago cees....144.80 {1937 high (Apr. Br +146, 65 jae? low (Jan. 29)

Yesterday ..... Week ago Month ago ..

Following are the prices used in svmpiling, tB the ‘index:

Today $1.23% 24% 981% 46 6.675 A215 093% 0335 39% 1110

, Commodity— Wheat, No. 2 red (bu). Corn, Ng. 2 yellow (buw.)....cc0.. Rye, No. 2 (bu.)....... canvass Oats, No. 2 white (bu.) Flour spz. pat. (196-1b. sk.).... Lard, prime steam spt. (Ib.)... Coffee, Rio %s spt. (b.)....... - Sugar. raw 98 test (1b.)... Butter, 92 -score AID).

sevens

ose

Commodity—

Wool. fine unw.

.158.26 . 141.47

Lead, spot (Ib.)

Year. Ago $ 91% 62% . 60 29 5.975

eee $1.2134 1.20% 1.013% S134 6.875 1247 09% 0335 31

Lambs, avg. most sales ab.) Hides. native heavy steers {ib.). comb. (Ib.) Cotton, Midupland (Ib): ...... Silk. 13-15 deniers Jap. Rubber, spt. smk. rib. (Ib.).... Copper. electrolytic (1b.)..

Zine, spot (Ib.) .... Tin, Straits spot (Ib.)....... Silver, commercial bars (oz.)...™ Steel, scrap, Chicago (ton) Piz iron, Iron Age comp. (ton). Coke, Connelsville (ton) Cement, dom. Portland (bbl)... Yellow nine, 6-in. base (m. ft.) Douglas fir, rough (m. ft.) Gasoline. tank wagon (gal).... Crude Oil, 40 gravity (bbl) .. (Source of Quo

Week Ago $ 1205 161s 40% 1325 1.81 20% a4 060215 .0662% S614 45 168.75 23.25 4.60 2.25 60.00 52.50 1.27 1.27 1.18 Grains, a ard, steel - East St. Loui Zine.

Year Ago 1168 JA13% 35% A179

Today $ 1225 161% 40% 1269 1.83% 19 14 060214 .0662%% 56 45 16.75 23.25 4.60 2.25 60.00 52.50

(b.)....

csvse pee ©

18.84 3.65 2.55 50.00 38.00

icago: n: Cons

.. kL “Congress

: Net ; Hizh Low “Last Change Superior OQ ... 5 “ia Swift ILntl .... 305

Transamerica = Tri-Con or 20th te Fox .

Union Carb | ee Un Oil Cal |.. Un Air Lines United Corp ... United Cp pt i= Un El Coal .

p S Leath .... S Rubber .. 6 S Steel |. Univ Soot UW P&L

Walgreen Ward Bak .. Ward Bak B .. Warner Bros .. 1 West A Bke ... Westing El 14 West Auto Sup. Wheel Stee Wheel St p : Wilcox O & G . Woolworth White SS Dent

Yale & T Yellow Tr

FARM OFFICIAL ASKS STABILITY

461 22Vp

'Edward A. 0’Neal Approves

Managed Currency - Policy.

By United Press WASHINGTON, June smiloh A. O'Neal,. American Farm Bureau Federation president. urged before the Senate Agriculture Committee that Congress adopt a “managed currency” policy to assure stable prices for all commodities. Mr. O'Neal read to the Committee yesterday a statement adopted by the Federation Executive Committee, should establish as soon as possible a monetary authority and invest in this authority ample powers, including the repricing of gold and regulating: the gold content of the dollar on a basis of an index of basic commodity prices,” Mr. O'Neal said. “The wide fluctuations in the purchasing power of our doilar have been a major cause of the recurring periods of inflation and deflation which have been so disastrous to the entire nation. Stability Held Vital

“The establishment and maintenance of a medium of exchange with a stable ‘purchasing and debt paying power is essential to the well-being of every group in the nation. “The stabilization of the value of our dollar should be made on such a basis as will bring about a proper equilibrium in our price structure and a fair relationship of commodity prices to the debt structure. “We view with concern the growing demands for reduction of the price of gold. an increase in the gold content of the dollar and other deflationary proposals. “Increasing the gold content of the dollar, or lowering the price of gold. would throw the nation once more into the vicious, downward spiral of deflation. “Establishment of a scientifically managed currency will safeguard the nation against the evils of both inflation and defietion” = »

BROKERS’ OPINION

By United Press NEW YORK, June 8.Liirokeruge opinion today: - E. A. PIERCE & CO.—Dullness at prices closed to the 175 level may

| be interpreted as exhaustion of of-

ferings and it would seem that the next imports nt movement may be toward hight ‘evels. REDMOND & CO.—In our opinion further irregular recovery is likely today. . FRAZIER JELKE & CO. — We continue to regard the market as in a soldout technical position; and we are inclined to think the removal of gold uncer:ainties may mark the beginning of a better price trend. HORNBLOWER & WEEKS—Indications are that the technical forces which induced the -March decline have been adjusted, and on the fundamental side, the uncertainties of the moment already are discounted. J. S. BACHE & CO.——Our view remdins unchanged that the market

3 | currently is in the process of form-

ing a broad base. THOMSON & MWKINNON — Investment accumulation of a quiet yet confident character apparently is proceeding among soundly situated and representative equities. es

TREASURY REPORTS, $65,700,000 ‘LOSS’

By United Press WASHINGTON, June 9.—Analysis of Federal Reserve statistics indicated today that approximately $65,700,000 in gold has been lost to the nation’s monetary stock in the first four months of 1937 through ‘‘unreported channels.” Although no official explanation is available, it was considered possible that part of this deficiency may be traceable to the lag between the time of production and acquisition of the gold by the Treasury. Also, it was believed, there might have been some Unesplained exports of

gold.

FOREIGN EXCHANGE

Now YORK, June 9.—Foreign exchange firm Cable Rates Net Sn. $4. 32 11-16 --.00 3-16 4.9! 3 Ie +.00 3-16 1 0 1 .0445%, —.0000, }- 16 0 05261- —.0000! .1686 +. 000034 .4005 238%% +.0000Y4 unquo ted .2546 .24381 2204 2875

England ( abt En

ae] ry

+.0001

TYPEWRITTEN LETTER: AUTOMATICALLY TYPEL ADDRESSING & MAILING MU. T'GRAPHING STENGIL.S GU? MIMEQGRAFHING U.ED FORMS Ur TO 14 X 20 CWO NOTAMs: Ei ) ;

MIS

‘vanced 25 cents today

HOG PRICES GAIN 10 T0 25 GENTS; VEALERS JUMP

Porker Top Advances to $11.65 on Fair Supply; Sheep Steady.

Hogs scaling 155 to 300 pounds adin active market that was stimulated by light receipts, according to the Bureau of Agriculture Economics U. S. Department of Agriculture. Weights below 155 pounds were only steady and heavy butchers scaling above 300 pounds were on a catch sale basis, mostly 15 to 25 cents up. Top of the market rose to $11.65 on choice 210 to 225-pound weights. Sows shared some of the upturn in lights and butchers, rising 10 to 15 cents. Bulk moved at $9.90 to $10.50, with top $10.60. It was a lively cattle market with an early clean-up which awaited light supplies today. Action in the steer and yearling division extended to all weights and grades, including those scaling above 1100 pounds, which were unpopular earlier this week. Choice Kinds Lacking

There were no choice offerings available, however, to test the strong trade on the rank and file of the crop here. Best steers comprised a load of good animals around 1200 pounds at $12.50, but bulk fell within a range of $10 to $12.25. Buyers practically fought for the heifers and then showed an upturn of 25 cents or more for the week. A part load of choice mixed steers and heifers made $11.75 and two loads of comparable 650-pound heifers were noted at $11.50. Bulls scored a 25-cent advance, with the practical top on sausage offerings at $6.75. An active vealer trade at strong to 50 cents higher prices worked this class out of the rut of the past week or so. Most good to choice offerings sold from $9 to $9.50, with mediums anywhere from $7.50 to $8.50, according to outlet. Generally steady prices ruled on all classes of sheep and lambs today. - Practical top on choice native lambs remained at $12; but there was a small lot of outstanding springers at $13.

HOGS

Bul Receipts $10.30 11.55 7000

w» ie tt pt pt CO ULB LOS nD odo LOo;

i [email protected] Light Lig

(140- 160) SGood and choice 310. 007 11.50 Medi

[email protected]

. [email protected] ... [email protected] .. [email protected] > 0.90201 45

11.45@ 11.65 11.50@ 11.65

Choice. . 11. 25611 55 . 10.85@11 40

Lighi weights (160-180) Good and

um (180-200) Good and Medium ..

Medivm Weights (200-220) Good and (220-250) Good and Heavvweights (250-29) Good and i (290-350) Good and’ choice Packing Sows—

choice . choice. .

(425- 555) Good (275-550) Medium Slaughter Pig (100-140) Good and choice. edium

CATTLE —Receipts, 9

[email protected] 8.50 10.00

(550-900

(900-1100) G

(1100-1300)

(1300-1500)

Heifers

Choice Good

$11.25@12 10.50@11. 7.006210.50 [email protected] [email protected]

500-750) 25 hn 25 Good and choice . Common, medium

(750-900)

on and medium Low cutter and cutter . Bulls, good Cutter, com. Vealérs —Receipts, 700— eos hd thoice ew aay Ele

Calves Steers— . (250-500) Good and choice $ ommon, medium der and Stocker Catt (500- 800," Good and choice .$ 7 Common. medium (800- 1050) Good and choice . Common, medium.

SS) S101 Ww©

Heifers— Good and choice Common and medium ... SHEEP AND LAMBS : —Receipts, 500— Spring Lambs-- . Choice

[=]

U0 50 .00 .00

. |. 2.50@ 3.60 1.50@ 2.50

mmon Shorn Ewes— J 190-175) Good and choice Common, medium.

By United Press

CHICAGO. June 9.—Hogs—Receipts, 12.000, including 4000 directs; market. generally steady to strong, spots 5@10c higher than Tuesday's average: bulk good and choice 190-300 lbs. [email protected]: - top, $11.50: strictly choice medium weight butchers held higher; few Sales good and choite 150-180 1lbs.. $10.60@1 1.50" most packing sows, $10. [email protected] or 1. ter. Ca ttle—Receipts. 7500; calves. 1500: best steer and yearling trade more active. strong to 15c¢ hi her; largely steer run; bulk, [email protected]; fed medium weights. early $13.50: not many common killers placement cattle, firm;

50; few heifers, very scare; fully steady, except on. short-fed heifers sellin gabove $11.50; several loads weighty sausage bulls here; market, inactive and weak: outside, $7.10; mostly s $7; vealers steady at $9@9. 75; se-

lects Oo eraipit. 9000, including 6000 directs;: market opening slow; about steady on all classes; scattered lots good 2nd choice native spring lambs, $12.50@ some higher; good and choice I $9@9. 75; best above $10; shorn slaughter

ewes. $3@ FT. INE. June ogs—Market 10f@ 25¢ higher: 225- 250 we 45; 950- 573 $11.35; 200-225 1bs., $11.25: 180-200 275-300 ps. oy :

Sey

130-140 0 Ses $8.5 Calves. — Hogs—Market. ’ 21%- 235 1bs.. $1.02

S, "$9. 75; stags, $11.

Stesdy to 15¢ “higher: 11.40; 235-275 lbs., $10.85@11: 160-180 1bs., Shall 10: 15010.25; 130-15 $9. 50029. 75; [email protected]; i $10 down. Calves—$7.50 @8 down. Lambs—$10@11 down.

NY. Bonds

By United Press

BOND PRICE INDEEPS 20 20 20 Indus. Rails Util. . 91.4 946 101.4 91.6 942 1012 92.2 95.9 102.4 90.3 92.3 105.5 851 ni2 9%s 95.0 101.2 106.0 91.4 94.2 101.0 94.8 100.4 106.2 90.0 84.7 103.3 91.4 103.6

86.4 83.6 1.0 89.3

Beds | 95. 3 95.% 96.8 | 96.0 | 87.4 100.7 95.6 100.2 93.3 93.1 83.0

Yesterday Week ago - Month ago .... Year ago Two years ago. 1937 high 1937 low 1936 high 1936 low 1935 high ..... 1935 low

(Copyright, 1937, Standard Statistics Co.) |

U. S. GOVERNMENT BONDS Treasury Bonds

Jish Low Last 338s 106 16 3148 3 4S S 2%s 31ss 2158 28 2348 2788

1943-41 Mar 41 108. 10

Yield. 2.7 2.30 2.81 2.86

2.48 4

93 1.16

4s July 1946-44 4s Nov. 1957-37 4s May 1958-38 103 4%s May 1957-37. 101 9-16 4% s Nov. 1958-38 . .. 110335 104% Federal Farm Mortgage Bonds 2 High. Low. 1947-42 103. 1949-44 102.16 1 Home Owners Loan Bonds 2%s 1949-39 100.12 100.12 1 DOMESTIC BONDS

ATT deb 5%s 43 113%. 11 At TSF gen 4s 95 ...... Y, a: 1: Atl goat x 4s 52 . 1 B & O 4'2s 60 i Beth Stl ih: 60 .. Bush Ter 5s 55 .. od Can Pac deb 4s perp ay Chi East Ill 5s 51 Chi N Del & Erie ref 5s 75 Erie ref 5s 67 Flor E Coas 5s T4 Gen M Ac 3s 46 023s Goody T & R 55 57 .... Gt Nor 4s H 46 Hocking V 4'zs 99

Lst. 02.16

3s 3s

00.12

Nor Pacif 3s 2047 .. Pa P&L 4'zs 81 Philippine R Rep Stl C 4'%s

Third Av adj “5s 60 .... 24 Warner Bro 6s 39 95 West Union 5s 60 101 Young S & T-4s 61 .... a FOoREIgN BONDS

Argent 45s Brazil 65s 26- 57°

Norway 4s 63 977s

SEC RECOMMENDS LEA BILL PASSA

Types of Abuse Shown Commissioner.

By United Press WASHINGTON, June 9.—Securities and Exchange Commissioner

r William O. Douglas today: recom-

mended to the House Interstate Commerce Committee adoption of the Lea bill regulating the operations of security holders’ proteccive committees in the reorganization of corporations. Mr. Douglas accompanied his indorsement with a survey of some of the types of “abuse” which have been revealed in studies prepared by various Governmental agencies. He asserted that in addition to the Lea bill, it was desirable that other legislation he passed which would give the SEC authority to protect security holders from irregularities by protective committees. “The existence of widespread and persistent abuses in the reorganization field calls for vigorous and ag-

gressive action.” Mr. Douglas said. “Action as constructive and pro-|

gressive as that which produced the Securities Act of 1933, the Securities Exchange Act of 1934 and the Pub-

lic Utility Holding Company Act of |

1935.

“There is such a national inves-

tor interest at stake in these reorganizations that mild or temporary remedies will not suffice. The necessary reforms call for revisions in the present system along the evo-

lutionary route made apparent by |

the experience of the last four years.” iad

| |

POLAND NEGOTIATING NEW TARIFF TREATY

Ry United Press WASHINGTON, June 9.-JConver-

sations are underway toward nego-

tiating .a reciprocal trade pact between Poland and the United States, it was revealed today. Mieczyslas Sokolowski, - Vice Minister of Commerce, called on Secretary of State Cordell Hull this week and later conferred with other State Department officials. He is expected to talk with Secretary of Commerce Daniel Roper soon. The United States has 16 trade agreements in operation. Discussions with Poland have been delayed because the similarity of Poland’s major exports to goods produced in this country made such a pact difjp officials indicated.

LOCAL PRODUCE

(The 0 quoted are paid for stock gathered in the country while for deliveries in Indianapolis the prices are 1 cent higher. Each Hu 1 case of eggs must weigh 55 pounds gross.) Eggs—No. 1 ES rictly fresh, loss off. 1l4c

0%. . Heavy breed hens, 5.1bs. and over, 13c; horn hens, 9c. Heavy breed broilers. 2 lbs. and over, 19¢c. Leghorn broilers. . 2 lbs and over, 17c. Bareback broilers, 1937 stock. 2 lbs. and over, 13c. Old Foosiers. 9c. Ducks, fullfeathered and fat. 5 Ibs. an Sover: 5c. Butter—Creamer No. 2,

. 15¢; S2@s3ac. cameiy: No 1, No. 2, Cc

Poland's |

| eral manager.

HAIL IN KANSAS

AND RAIN FEAR ~ BOOST WHEAT

Liverpool Strength Holds Prices as Reaction Threatens.

| By United Press | CHICAGO, June 9.—Strength in

6 , | Liverpool and unfavorable weather

| for harvesting combined to push | wheat prices higher today on the

0 Chicago Board of Trade.

Entering the final hour. wheat had lost most of its 2-cent gains, while corn futures had dropped to | losses of 1 to 13% cents. Oats were 3s to % cent lower and rye was down 14 to 1% cent. | Small reactions from the day's 4! high failed to weaken the bullish | attitude of the wheat trade and the market undertone was strong. Some selling, credited to a local operator, was noted, but offerings were well absorbed. Damage reports from Kan- | sas had served to keep the market {trend on. the bullish side. Whos) receipts were 5 cars. Although scattered profit- -taking

| selling developed in corn on the ini-

| tial upturn, pressure was not pare | ticularly heavy. Buying demand, | however, diminished. due in part to the belief that the bulge was too : iid and sharp. Corn Yessipis were cars.

WAGON WHEAT City grain elevators are paying $1.11 for No. 1 red wheal. other grades- on their merits.. Cash corn new No. 2 yellow. $1.16, Oats. 47c. Hay—No. 1 timothy. [email protected],

ARGENTINE GRAIN BUENOS AIRES. June 9.—Grain futures opened irregularly higher, Whest-—June, $1.18%4, up ec: July. $1.167, up 3c. Corn —June, 533azc, unchanged; July, 53%e, unchanged. Oats—June, 29¢, off 78C. Flax— June, $1.293;, unchanged; July, 5 29%, une changed.

. equiv Steritne ve $4.931, q EAT based on Prev.

CHICAGO PRODUCE

Eggs—Market, stead receipts. 24,701 $ 183 jac; extra /4C; current receipts, 17'2c: checks, 16Ysc: storage packed iy 20c; storage packed extras, 20c. Bi receipts. 18,078 : firsts, 27@ standards. 39%2¢; extra firsts (901917;

steady: receipts, 52 psse. llc; broilers,

22% 1.21%

l>@3lc: S 29%, @29V%c. Poultry—Market, trucks; ducks, daizc: 15@19¢; hens, 13'2@ 'eghorn /hens, 10@131%¢: as 13@16¢: old roosters, 12@13c; fryers (including barebacks), 19@ 23'2c: spring chickens, 22@27c. heese—Twins, ies; daisies, 16@ longhorns. 16@1674 Potatoes (old Stock Supplies light: dee mand, light; markes, Steady; paafio Russet: Burbanks, $2.10@2 U. 8S. 1.25; Michigan nan Rurals, NL ». stock) —Supplies, moderate; demand, fair: market, weak to firm: California White Rose, [email protected]: U. S. Commercials, $1. 90; Louisiana Bliss Triumphs, $1. .85@2; Louisi= ana Russet Burbaks. $1.75@2; North Carolina Coble 0 5 88 Mississippi Triumphs, $1.8 8. No Alabama Fliss Heiumpis, [email protected]; U No. 2, 90c@$1.1 1179;

Arrivals, 91; 2 iomenis. on 268.

MONEY MARKET

NEW YORK. June 3.—Money rates were unchanged todav.: ‘ Acceptances — 30 davs. '2® Ls 120 gays. i

:. 60 and 90 davs, 9-163415%: Ja @9-16%: 150 and 180 days. Commercial Paper Prine names, 1%. ime Money —60 and 99 days. 1%%: 120 150 and 180 davs 1%% Reaicount rate at New w Yolk a

FINLAND TO SAVE on WAR DEBT PAYMENT

Ly United Presa ; WASHINGTON, June 9.—Offi- | cials of Finland took advantage ok | of the recent drop in the market quotation of United States Treasury notes to get a bargain on their war debt payment due the United States next Tuesday, it was disclosed today. | The market quotation of Treasury 2%; per cent notes recently fell as low was 96.6 cents on the dollar, but Finland had the right under her debt contract to turn them in at the Treasury for 100 cents on the | dollar. So Finland bought up $144,=. 1 000 worth of the notes, which gave | her enough to pay the greater part

of the $163,143 installment she ‘will

owe. The rest will be paid in cash. If she bought all the notes jat an average of 97 cents on the dollar, she saved $4321. It was the first | time she had the chance to pay in this way, Finnish officials Se They usually pay in cash.

REACH NEW | NEW RECORD

By United Press | DETROIT, June 9.—Retail pur= chases of cars and trucks the | United States and factory shipments of trucks from plants located in this country and Canada .rosé to the / highest levels in history of the ine dustry during the first four months of this year, according to Alfred Reeves, automobile manufacturers association vice president and gens

trucks year Mr,

Sales of passenger cars and for the first four months this amounted to 1,502,963 units Reeves said. That compared with 1,322,952 units in the 1936 period and eclipsed the previous record of 1,480,031 units set in the isi hls ing 1929 period. Factory shipments of trucks from United States and Canadian plants in the same period totaled 344,128

| units, also a record.

INSURED SAVINGS

Smooth Sailing on Finandial Seas