Indianapolis Times, Indianapolis, Marion County, 21 June 1937 — Page 11

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COMPLETE N. Y. EXCHANGE STOCKS

«+ The Times Financial and Market Page =

COMPLETE LOCAL

Ae LIVESTOCK

U.S. STEEL LEADS N.Y. STOCK ISSUES

SLIGHTLY UPWARD ::

Coppers Rally After Early Morning Decline.

Ly United Press NEW YORK, June 21.— The stock market developed firmness in the early trading today under lead of U. S. Steel after a dull, irregularly

lower opening. Steel common reached 96'z, up 11; points. Republic Steel was at 3412, up 7%, and Bethlehem, 8112, ~ up ls. Automobile issues were steady to firm. Coppers rallied after an early decline with American Smelting up nearly a point around noon. Oils were steady. Some of the utilities including North American and Public Service of New Jersey, made small gains. New York Central rallied to a small advance and other carriers came back partially from declines 3 fractions to 2 points. Small gains were noted in such issues as:-American Telephone, Johns Manville, Chrysler, General Motors, General Electric, du Pont, Interna- - tional Telephone and Yellow Truck.

‘ FIRST HOUR

The opening was narrowly irgegu--lar and quiet. U. S. Steel opened at 947, off 1» and held steady at that level but most "other issues turned lower. Bethlehem opened at 811%, off. % and reacted to 807%. Motors were lower with Chrysler opening at 100 and then easing to 9915, off 13. General Motors sold at 493, off 5. Rails were weak. Union Pacific lost. 2 points to 127%z, Atchison opened 3 3% lower and then dropped to 792, off 1%. American Coast Line sold| off to 1 point to 5014. New Yo Central was 2 lower at 381% after opening with 4 loss. Anaconda | opened at 49, off 114 and Kennecptt at 55% off 7s. Utilities were steady, oils mixed and other groups easy. Toward end of the hour the entire list, except rails, moved forward. Steel shares made small net advances. Sales approsimated 130,000 shares, against 200,000 in the first hour Friday. . Dow-Jones averages: Industrials, 1168. 09, off 0.51; Rails, 52.86, off 0.52; Utility, 26.44, off 0.07.

SECOND HOUR

Trading continued quite but imrrovement in steel shares continued. Firmness also developed in most other sections. U. S. Steel rose to 961» and Bethlehem to 82. Republic reached 341; where it was up 7 net and 1% points above the low. Chrysler spurted 2 points from its low to 10132, up % net and General Motors made 1; gain'at 50%:. Rails rallied slightly but were relatively weak. Pennsylvania and Chesapeake & Ohio made new lows for the year at 36%, off 1 and 51% off 1, respectively. New York Central met special demand and moved up to s gain to 383i. Utilities were steady , to firm.. North American moved up 5, from its low to 23%, up 34 Losses fin metals wére wiped out and oils steadied. “Other groups were irregularly higher. Sales approximated 80,000 shares, against 160,000 in the second hour Friday. Dow Jones Averages: Industrial 168.42, off 0.18; Rails 53.03, off 0.35; Utility 26.44, off 0.07. nn =»

Today's Business "At a Glance

GENERAL BUSINESS

R. L. Polk & Co. reports new passenger car sales in May in 31 states declined 2.34 per cent from April and 1.18 per cent from May, 1936. Lead stocks at refineries in the U. S. declined 12,619 tons in May to 115,843 tons, according to American Bureau Metal Statistics. Production totaled 42,605 tons vs. 46,468 in April, and 41,551 in May, 1936. anadian Nickel output in April

seta new record at 20,266,884 pounds, vs.| 18,193,641 in March and 11,018,947 in April, 1936, according to dominion Bureau of Statistics. Canadian copper production in April was 41,989,288 pounds vs. 41,796,786 in March and 35,491,611) in April, 1936. CORPORATION NEWS

Central Ohio Steel Products Co., five months ended May 31 profit before Federal taxes $165,047 vs. $161,471 year ago. Kansas City Public Service Co, 12 months ended May 31 net loss $169,924 vs. net loss $180,379 previous year. Manila Electric. Co, ended March 31, net income $823,779 vs. $773,767 previous year.

Vs. $114,187 year ago. Safeway Stores, Inc. ended June 12 sales $29,390,387 vs. $25,946,986 year ago; 24 3S $170,896,931 vs. $147,842,701 year ago. Selby Shoe Co. 13 months ended April 30 net income $419,475 or $1.75 a common share vs. $583,722 or $2.43 year ended March 31, 1936 (company changed its fiscal year from March 31 to April 30). irginia Public Service Co. and subsidiaries, year ended Dec. 31, 1936, net income $966,411 vs. $774,930 in 1935. : Consolidated Railroads of Cuba, first quarter net loss $5,060 vs. $4,953 year ago; 9 months ended March 31 net loss $12,257 vs. $14,461 in like period preceding fiscal year.

Cuba Co. including subsidiary and

Curb Stocks

30%

Iron Fireman Lion Oil Loghheeq Ar

Seiberling Sherwin-WwW S O Ky (Ln

Armour & Co Cities Service

CARPET PRICES RAISED

Times Special NEW YORK, June 21.—BigelowSanford Carpet Co. announced today a general price advance of 8 to 10 per cent, effective July 19,

Orders, it was pointed out, will be filled at present prices subject to company's ability to ship up to July 19. Unfilled orders at that time will take the July 19 price, it was explained.

affiliated companies, first quarter profit, $405,383 vs. loss $472,960 in preceding quarter and profit $469,688 in first quarter year ago; 9 months ended March 31, net loss $595,871 vs. $777,840 in like period year ago. Cuba R. R. Co. first quarter net income $247,047 vs. $269,108 year ago; net loss 9 months ended March 31,

$58,051 vs. $227,351 in like period of preceding fiscal year.

Pere Marquette Railway Co. five months ended May 31, net income $962,957, equal to $1.04 a common share vs. $1,099,480 or $1.34 year ago: net income $66,776 vs. $208,974 year ago. Spencer Chain Stores, Inc. and subsidiaries, 6 months ended May 29, net profit $222,801, equal to 83 cents a share vs. $126, 655 or 50 cents a share in like period year ‘ago.

Texas & Pacific Railway Co. 5 months ended May 31, net income $1,023,582, equal to $1.26 a common share vs. $450,406 or $1.90 a preferred share in first 5 months year ago; net income $279,028 vs. $157,912 year ago.

Alabama Power Co., 12 months ended May 31, net income $4,081,398 vs. $3,122,135 year ago. Canadian Pacific Ry. Co. 2nd week in June gross $2,607,000 vs. $2,477,000 year ago; Jan 1 to June 4, gross $60,552,000 (as compiled from company’s weekly reports) vs. $55,948,000 year ago. Georgia Power Co., 12 months net income, $5,215,229 vs. $644,903 year ago. Kansas City Southern Ry. May net income, $272,703 vs. $296,384 year

-ago.

Tennessee Electric Power Co., 12 months ended May 31, net income $2,325,609 vs. $2,192,926 year ago.

DIVIDENDS

Birdsboro Stee Foundry & Machine Co., initial 25 cents com mon share payable July 15, record June 30. Pacific American Fisheries, Inc. regular quarterly 30 cents a common share payable July 15 record July 1. Taylor-Colquitt Co., special 25 cents common share plus regular 50 cents both payable June 30 record June: 20.

General Fireproofing Co., 30 cents on common payable July 1 record June 21 vs. 25 cents on April 1. Kalamazoo Stove & Furnace Co., extra 25 cents and regular quarterly 25 cents on common payable August 1 record July 20. Knott Corp., 10 cents payable July 15 record July 1 vs. like amount April 15, Spicer Mig. Co., regular quarterly 75 cents on $3 ‘preferred payable July 15 record July 2. United Stockyards Corp., regular quarterly 12%; cents on common payable July 15 record July 3. Consolidated Royalty Oil Co., regular- quarterly 5 cents payable July 25 record July 15. Cudahy Packing Co., regular quarterly 6112 cents on common payable July 15 record July 3. Magma Copper Co., 50 cents pay-

able Sept. 15 record August 27 vs.

like amount on June 15, Pacific American Fisheries, Inc., 30 cents quarterly on common payable July 15 record July 1 vs. like amount on April 15. Sterling Brewers, Inc., 10 cents payable July 15 record June 28 vs. 30 cents on Dec. 19, 1936. (Copyright, 1937, by United Press)

LATEST NEW YORK ST OCKS

By United Press Bi

High. Air Reduc 653% ‘Air-Way m Fs 34 Allied Stor gl | Allied Mills, ‘Ris. >=

ar & F n SL

Net . Last. change.

vie Ol Re) [RC RE REE Ea

ph hp

—-

RII E 1

HTH

. po

| Mfg 73% Rosi A Rts WI 2% wise; 13's 2512

Calumet, & H.. Campbell Wy.. Celanese | Cuyotex Cent Foundry .. Ch M St P & P 17 Chi Pneu Fr % Chrysler City Stores ..... Colgate-P-P ....

Container Cont Mot id rt

Curtiss-Wr .... 5% 5%

Doehler D Cast 35'2 35% Domes Mines .. 393; 393 Pon 153 153 : —E— Eaton Mf 312 31% Blec# Vusie ‘Ind 45% 455 Elec P. L.... 1673 167s —F— Fid Phen 37% 37% Frrestons pf A 102 102

Am Tr....

GRUETE

Gt West Suz.. 35 Green H L....

Hecker Prod Bn Captral eine nd Ray

Int Mining . Int Nickel Int T & T ...

Kennecott Kresge SS .... Krog G &

Leh P Cem Lehman Lima Loco Loew's

Loft, Long Bell.

McCall Corp McCrory .. . McKess & R .

Martin G

.. 20 Marshal id . Miami Cop .. Mo-K Tex 0-K Tex of o Pacific ' Mo Pac pf. ... Motor ‘Whi ....

Nash-Kelv ... Nat Bisons Nat Dair Nat Distillers Nat Lead -

Wn bt bt BD) CO = BD LIIBIBI bY =e

Pacific. Ltg

LOCAL ISSUES

The lows quotations do not reoresent 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%s 61....100 102 H fg

s 60 Indpls RANWay Ins 5s 67 Indpls Water Co 4'5s 66 Interstate Tel & Tel 5'2s 53... Kokomo Water Works 5s 58... Kuhner Packing Co 42s 49.... 9 Morris 5&10 Stores 5s 50

Trac Term Co 5s 57 STOCKS

Belt Railroad & St Yds cum... Belt Railroad & ot Yds pid... Cent Ind Power pf Ts 26 Home e gel = el Bt Wayne.... ok xInd 2 Mich Elec Co pfd 7s...107 Ind Gas Co ¢ xInd Gen oa Co 6s xInd Hydro Elec Co 17s xIndpls Pwr & Lt Co pfd . 89 xIndpls Pwr & Lt Co ped 6'2s 9112 Indpls Water Co pfd 5s 103. Lincoln Natl Life Ins Co com. 24 N Ind Pub Serv pf 7s : N Ind Pub Serv Co pfd 6s , § Ind Pub Serv pfd Slas Cadet 1! P R Mallory Co com. oo 361 Progress Laundry Co .. Pur Serv Co of Ind 6s. Pub Serv Co of Ind Ts Smith-Alsop pfd Smith-Alsop com Terre Haute Elec Co 6s Union Title Co com.. Van Camp Milk Co pfd.. hi Camp ae som > shades le lie bay XEx-Dividend.

ist & Co.

M. R. Cr Market sto Inxesting Corp 3. 70, 34.77

CHICAGO PRODUCE

Eggs—Market, steady: receipts. 23.979 cases; fresh graded firsts, 19%c; extra firsts, 20c; current receipts. 18%c: dirties, 18c; checks, 17c; storage packed firsts, 21c; storage packed Sxyes, = i utter—Market, unsettle receipts. 23. 286 tubs. Extra firsts (90-912 score), 29 @29%2c; extra (92 score), 30c; firsts, 27@ seconds, 23@25c: standards, 29c; S ecials, 30/2@31c; centralized id score), 28%c; centralized (88 score),

: 12@13c: 3 (including barebacks), 16@18c; spring chickens. 17

c Cheese—Twins, mse Saisie , 167 16%¢; longhorns, 16% @1 les. 181468 Potatoes — Supplies, fiberar: .demand. slow; market, steady: Wash ington Russel Burbanks, $2: California White Ro $1.7 .80: U. S. No. $1.15; North ¢ an are "81, [email protected]: U. S. No. North Carolina Bliss Trium 1.55; s Louisiana $1.40@1:50:

1 Arkansas Bliss Triumphs, $1. 35; a aT Bliss Triumphs, [email protected]: No. 2. 90c@$1: Thais, 1900 TERE i bis on trac Saturday, '66 Sunday Shipmens 1,090

| Weekago

'DOW-JONES STOCK AVERAGES 30 INDUSTRIALS

Heiden cerer:s. 168.60 — 0.19 ver 169.49 wervirress 160.97

Saturday Week ago .. Month ago . Year ago High 193%. 194.40: low, 165.51 High, 1936, 184.90; low, 143,11

20 RAILROADS

Saturday Week ago ........ Ceres ive Month ago ....... seaenens Year ago High, 1937, High, 1936,

64.46; low, 53.13. 59.89; low, 4066. 20 UTILITIES 26.51 26.78 27.28

32.69

Saturday Week ago Month ago . Year ago High, 1937, 37.54; low, 25.98. High, 1936, 36.08; low, 28.63.

70 STOCKS

esssessssvenns sees

Saturday Month ago ... Year ago ..High, 1937, 69.67; High, 1936, 66.38;

low, 58.48. low, 51.20.

feifrer- Haw

hillips Pet ts Sc B tts Stl a ymouth ‘oil +. Purity Bak ...

24) Ya

jlclciclelchhcdd S > 3

Republic Stl. ... Reyn Tob B ...

t Jos Jad. ee

S § £ £

South Pas South Ry Sparks Spencer K t Brands Stan G&E Stan O Cal. . Studebaker Superior O ....

Texas Corp Thermoid Timk-D Ax Timken R Tri-Cont

MOTOR GAR OUTPUT CURTAILED IN WEEK

Drop in Chevrolet Production Reflected in Total.

20% 577% T%

Times Special DETROIT, June 21.—Due to lower Chevrolet production, automobile production dropped to 111,620 cars last week from 118,798 two weeks ago, according to Ward's Automotive Reports. A year ago output was 100,161 cars. Because the Saginaw Grey Iron Foundry was disrupted by a strike, General Motors Corp. production total was cut to 36,540 units from 45,063 a week earlier. The foundry supplies Chevrolet cylinder blocks. Ford production was estimated at around unchanged, while output of Chrysler Corp. increased to 29,665 units from 28,875 a week earlier,

STRIKERS DELAY WOOL IMPORTS

By United Press BOSTON, June 21. Serious congestion of wool imports developed in Boston, one of the world’s major wool ports, as 700 striking members of A. F. of L.'s new wool handlers’ and marine warehouse union prevented movement of new imports and warehouse stock. Millions of pounds of domestic spring clip clogged docks and warehouses’ from Charleston to South Boston and Boston-bound wool reportedly was tied up in New York, Chicago, Providence and western ports. The strike, which started Wednesday, sought only a closed shop.

BANK STOCKS

(By Blyth & Co., Inc.) Bid

| *Bankers Trust

*Central Hanover . Chase National Chemical Bank & Trust *Guaranty Trus *Irving Trust *Manufacturers Trust National y Continental Ill. Natl, Chicago 128 ° *First National, Bosto 483 *National Shawmut. sion National City. Cleveland

FIRE INSURANCE

*Aetn:. Fire City of Mew York

anklin Great American ... *Hanove Hartford

Hom National Fire “en

sess esseccssssine

Westchester CASUALTY COMPANIES

Continental Casualty 261% Mass Bonding & EN yiranes ees 59% *Ex dividend.

FOOD PRICES

CHICAGO, June 21.—Apples — Willow Twigs. Sweet Dtaloes Tenney. see Nancy [email protected]. rots— California, crates, $4@5s. Spinach Tilinois bu., 15@25c. Tomatoes—Texas. lugs, §2@ 2.25. Cauliflower—California. “crates; $1.50 @1.60. Peas—California, hampers, $1.40@ 2. Celery—Michigan, crates, [email protected]. Onjons==(50- -1b. sacks), Texas yellows, 0@

For Final Stock Quotations See Later Editions of

The Indianapolis Times

PRICE INDEX AND COMMODITY QUOTATIONS

DAILY PRICE INDEX NEW YORK, June 21.—Dun & Bradstreet’s daily weighted price index of 30 basic commodities, compiled for the United Press (1930-1932 average 100):

.. 14143(Year ago .. 141.64/1937 high (April 5). Month ago ........ 147.96/1937 low (June 18)

Friday Week ago ..

index

Commodity — Wheat, No. 2 red bu.) ..eeeees Corn, No. 2 yellow (bu.) «ceeees 1.14% Rye, No. 2 (bu.) 923% Oats, No. 2 white (bu.) 49 Flour, spg. pat. (196-1b. sk.).. 6.925 Lard, prime steam spt. (lb.) .. J145 Coffee, Rio 7s spt. (Ib) ....... 094 Sugar, raw 96 test (lb.) . 0343 Butter. 92 score (lb.) «31 Hogs, avg. most sales (lb.) ... 1103 Steers, avg. most sales (Ib) .. 0600

Today $1.24

Following | are the commodity prices used in compiling the

Commodity—

Wool, Cotton,

158.26 Silk, 13-13

141.43

Lead, spot Zine, spot (lb) Week Ago $ 1,228 $ 1.20% 66% 93% 663% 49 31% 6.775 6.3525 1210 J057 093% 067% 0340 0372 30% «30 1110 .1010

' 0610 0643 y

Year Ago 0935 Steel. ~ Coke, Cement,

Connelsville

Lambs, avg. most sales (lb) .. § Hides, native hvy. steers (Ib.).. fine unw. comb. idupland (1b.) deniers Jap tb.)... Rubber, spt. smk. rib (Ib.) .... Copper. electrolvtic <b.) ...... (1b. | coves

Tin. Straits spot (lb.) sececans Silver Commi bars (02.) .....q scrap Chicago (ton) ... Pig iron. Iron Age comp. (ton) (ton) o 6! 4.60 dom. Portland iv . 2.95 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: scrap and hides, Boston: Wool. East St. Louis: Zine. Connelsville: Coke. Tulsa: Crude oil. New York: All others.

Week Ago J275 08 168 401% 1261

Year Ago 1125 J1% 35% .1223 1.62% 13% 09% 0460 0190 41% 4434 13.00 18.84 3.65

Today A150 § A3% 40% 1256 1.88 1.89% .1960 183% J4 J4 060215 0602% 066212 06622 S3% 44% 16.73 23.25

(b.)..

ssescnces

60.00 52.50 095 095 1.27 1.27 1.18 Grains, livestock, lard, steel

No. 2, 286.

.Inac. gold.. $15,180,342 44

Net Last. change. SL

High. Low.

United Corp ... Unned Corp bi: Un Coal

3 2 Wilson & Co... 8%

Yellow Tr .. Young Sheet .

CONSTANT FARM DEMAND HINTED

Agriculture Bureau Says Present Level Likely To Continue.

« 23%

22% . 9072

802

22% = Y 80% ...

Times Special WASHINGTON, June 21.—Maintenance of consumer demand for farm products at approximately the present level during the next several months was forecast today by the Bureau of Agricultural Economics. The Bureau noted a “leveling off” in industrial production and general ‘business activity since early spring, but said that any “temporary slackening of business this summer probably will not be accompanied by a proportionate decrease in domestic consumer demand.” Discussing prices, the Bureau said, “Now that a considerable part of the expected decreases in prices of crops has occurred, the general level of wholesale commodity prices is not likely to decline much further durng the next few months.”

More Cash Income °

Farmers cash income from marketings this month is expected to show “less than the usual increase over May, although it may be slightly larger than in June lasi year. Cash income during the second half of this year is likely to be somewhat larger than in the same period last year.” Wheat prices in future markets in the United States have already adjusted to an export basis, it was stated, “but some further adjustment in cash prices, which are still on a comparatively high level on account of the scarcity of old wheat on hand, is likely as supplies of new wheat increase.” “Corn prices are likely to remain high relative to prices of other feed grains and wheat, especially in the western corn belt. Hog prices this summer probably will average higher than those of last summer, when the Chicago average price from June through September was about $9.90. Slaughter supplies of hogs in the summer and early fall are expected by the Bureau to be much smaller than those of a year earlier, especialy if corn crop prospects are favorable, but storage stocks of hog products are large. Prices of most grades of slaughter cattle, also, are expected to average higher than last summer ‘as a result of probable smaller marketings and a continuation of the present relatively favorable demand situation.” Butter Prices Decline Butter prices were reported to have declined seasonally. Butter prices during the next few months may not average as high as in 1936, “but except for 1936 the highest since 1930. Prices received by farmers for eggs are near their low point for the year.” The: Bureau reported early shipments of Georgia peaches at relatively high prices, but said “it is probable that prices of the late crop peaches will average somewhat below the relatively high prices of last year.” Discussing recent sharp declines in potato prices, the Bureau said that “further seasonal declines are in prospect during the next three months.” Further seasonal reductions in prices of most vegetables also are expected. :

BROKERS’ OPINION

By United Press NEW YORK, June 21.—Brokerage opinion today: E. A. PIERCE & CO.—We are inclined to believe that the market in so far as the industrial stocks are concerned will show more strength than weakness. LAMBORN, HUTCHINGS & CO. —We continue of the belief that a buying, or support area. is being approximated. The market now acts as though it is standing by waiting for another cue. :

SHIELPS & CO.—The market is

in a position to enjoy a fairly good comeback in the event of unexpected favorable news from the labor front.

HORNBLOWER & WEEKS—We believe the market during the next week will continue under the influence of labor developments.

REDMOND & CO.—Whereas we anticipate a better tone in the market, we think that the advance will be on a gradual and irregular basis while confidence is being restored and sentiment toward the market improved.

LOCAL PRODUCE

a he prices quoted are paid tor stock gathered in the country while for .delivEos in indianspoiis the prices are 1 cent higher. Each full case of eggs must weigh 55 pounds gross.) “ Zegs=-No. 1 strictly fresh. loss off, 15c Heavy breed hens, 3 lbs. and over, 12c: Leghorn he: els, 8c. Heavy breed broilers, 16 7 stock, 2 lbs. and over, 17c. Leghorn broilers, 1937 stock, 2 lbs. and over. 15c. Bareback broilers. 1937 stock. 2 lbs. and over, 12¢. Old roosters. 9c. Ducks. ll feathered and fat, 1bs. and over. Geese, full-feathered and fat. 9 to-14 lbs

“But tter—Creamer 341.@35%-e: . 32@32%¢. SE HT, 1. 30c: No.

U. S. STATEMENT

ASHINGTON, June 21.—Goxernment expenses and receipts for the current fisYear through June 18, compared with : year This Yea Last Yea B3fenses $ 7.878,066, 122. 08 § 8,632,097, 836. 49 .006.884.26 3,979,437. a: 33

,529,601,628.30 3.079,458.073.14

e! ,846.60 Gold res. 12,240.691.867.46 Customs... 471,710,868. 33.40

Total Pur. $1,000,343,288.67

HOG PRICES GAIN 25 T0 33 CENTS IN LOCAL TRADE

Vealers Steady to Weak on ~ Fair Supply; Sheep Unchanged.

The hog market continued its last

week’s rise, increasing from 25 to.

35 cents at the Indianapolis Union Stockyards today. Due t« '3zht receipts reported throughout :country, the fresh meat mes +t has shown decided improvemer. Weights above 160 pounds . mped | 3 35 cents, while lighter weigh._ rose 25 cents. Top was $12 for choice 210-225-pound weights. Receipts totaled 4000 with 110 holdovers. Sows advanced from 10 to 25 cents at $10 to $10.50. Top was $10.60. Steers, and yearlings moved readily today, ranging strong to 25 cents higher, while heifers were steady to strong. There were numerous loads of good to choice yearling steers at $12 to $12.70. Low cutter and cutter cows had a spread of $4 to $5.75, the cow trade in general moving slowly, but about steady. Beef cows earned $6 to $6.75. Cattle receipts numbered around 1600 head. | , In a steady to weak trade, good to choice vealers brought $9.50 to $10, latter price paid sparingly. Medium grades Went largely from $8 to $8.50. Lambs point] steady; slaughter ewes also steadied at $3 down. Good to choice lambs sold at $11 to $11.50. Cattle receipts were 1500.

= Se pee ONY WT SUOONODOD

June Receipts 14. 5000

Pod fd fod fh ft fot

fant Lights— (140-160) Good and Medium

Lightweights— $160- 180) Sood 8nd

(180-200) Hort ad Medium edium Weinht S—-(200-220) Good 1220-250) Good ights—

d choice.. choice. .

choice. . choice...

Dot our PO IIs baw Sh BSUS ws uo ooow OO AD A SD APD Od —-

Slaughter Pigs (100-140) Sl and choice..

ou Ob)

(550-900) ' (900-1100)

(1100-1300)

(1300-1500)

(500-750) Sood

Com (750-900)

Common and medium Low cuter and cutter Bulls, good Cutter, com

Vealers | —Receipts, 600— Good =i and choice

Cull mi common ... Stes Calves (250-5 500) Sood and choice..$ : [email protected] Common, medium. 6.00@ 8:50 Feeder and® Stocker Cattle

Good and choice Common and medium SHEEP AND LAMBS —Receipts, 600— Spiing Lambs— .

ed SPD

Ss: (90- 175) Good and choice. . Common, medium.

(Reprinted From Late Times Saturday) . By United Press

CHICAGO. June 21.—Livestock: Rope Receipts, + 13,000,- including 6000 direc market enerally 10 cents higher; HR Felehns ping sows up more in instances; top, § 5; bulk good and choice 200-300 $: [email protected]; comparable 150-190 Ilbs., $1090 @11 55: bulk good 350-500 lbs. packing sows, [email protected]. Cattle—Receipts. 13,000: calves. 2000: another active market on strictly grain fed steers and heifers; strong to 25¢ higher grass steers and grass cows and ers unevenly steady to 25c¢ lower: more grassy and warmed up settler in crop: strictly grain-fed offerings wel leaned, up on early round at $12 upward; $14.75; weighty steers: numerous rly $13.50@ 14.50; best, JJearlings, $13.75; heifer vearlings, $12.9 bulls steady: best! sausage offerings $7. Os. vealers weak. mostly $9.50 down; selects, $10; stocker and feeder cattle, mostly Southwestern pred calves and yearlings, strong and activ Sheep—Receipts.: 8000. including 4500 directs. Generally steady on all classes; top native spring lambs, $12.25, to city Bujchers and yard Lraders: bulk to packn: to good yearlings. $7 A 50, A held OE rer) Idaho spring lambs and fed Californias as yet unsold; slaughter ewes, [email protected]. FT, WAYNE, June 21. —Hogs—Market. fents Higher; 225-250 1b }

top. on

Roughs. $9.50; stags, $82 25; 2 $10.50.

$9.50: lambs, LAFAYETTE, June 21.—Hogs — Market, Seady to 25 cents higher; %310- 235 lbs. S0@11 8; 235-275 lbs.. $11.30@11. 40: salad. 20; 180- -210 lbs, e020

[email protected]: 0 lbs. 140- 2% Ibs.. [email protected];

1bS.. er 9.25@10: roughs, $10 down. —Steady. $8.50 down; lambs, $10.50 ove

COURT POSTPONES STEEL CO. AUCTION

By United Press MONROE, Mich., June 21.—Postponement of the scheduled auction of plants and equipment of the Newton Steel Co. scene of recent labor disorders, was postponed Friday until Aug. 24, by Circuit Court Commissioner Joseph A. Navarre Jr. The postponement from June 22 was granted upon request of attorneys for Detroit bondholders. The property is valued in excess of $2,600,000. : The auction was ordered by Circuit. Judge George B. Hartrick of Pontiac on April 13 after hearing in a foreclosure suit brought by the National Bank of Cleveland. \

ER EXCHANGE

NEW YORK, June 21.—Opening foreign exchange steady.

Cable Rates . 4.94 1-16 4.93 5-16 . .99 63-

mation, whcih extends over a very

New York Bond

By United Press

BOND PRICE INDEXES

20 20 20 ob Indus. Rails. Utils. Bonds.

Saturday «secs... 91.0 93.0 100.8 95.0 Week ago ...... 90.9 93.9 100.8 95.2 Month ago 91.83 94.9 101.4 96.0 Year ago 90.7 93.1 105.4 #6.4 1937 high «eee... 95.0 101.2 106.0 "100.7 1937 10W «cies... 90.8 93.2 100.6 95.0! 1936 high ........ 94.8 10004 106.2 100.2 1936 low Pensatys 90.0 84.7. 103.5 93.3 1935 high 86.4 103.6 93.1 1935 low 71.0 38.3 83.0 (Copyright Standard Statistics Co.)

seseese

U. S. GOVERNMENT BONDS | Treasury Bonds |

3Vas 47-43 Jeg 455 1946-44 4s 1954-44 2%s 1947-45 955-5

Boas 1959-56

2%4s 1949-39 DOMESTIC BONDS Am & For P 5s 2030... 76% Arm Co. Del 4s 5 98 Atl Coast L 4s 52 a B & O 4'2s €0 Can. Na oy 42s 51 Can Pac deb fi perp.. font Ill El 5s 51 s & Oh 3%

H 5 No Pac 6s B 2047 Nor Pacif 3s 2047 Ohio Edisn 4s 65 & 41s 8

1107 107%2 [107%2

Low || Last 10034 -| 10034 107% | 107%

Argent 44s L4; 20s | 20Ys

Chile 8: 4 ile 6s ¢ ! Italy 7s 51 8612 862 | g Norway 4s 63 98Ys | 98% Peru 6s 60 18 18 ed iii m——e

AAS CANADA z| AS GOLD LEADER

Rothenbergér Thinks Underlying Structure Hardly Scratched.

Times Special

‘NEW YORK, June 21.—That Canada will .some day produce more gold than any other nation in the world was the belief brought back to New York today by Moritz Rothenberger after four years of development work on gold prop-

erties there. While Spe Ontario and Quebec have been airly well prospected, he said, the rest of the so-called pre-Cambrian for-

large part of the country, has hargly been scratched. Mr. Rothenberger, who quit Wall Street early in 1933 after many years of security underwriting activities, is president of the TriNational Trading Corp. of New York and is a director of several important companies. Together with Canadian associates, he has acquired and developed more than 50 gold% mining claims across the border. While ‘gold mining securities have declined sharply in recent months in Canada, Mr. Rothenberger stated today that prospecting has| continued with little or no abatement. Investors and brokers, he declared, have been disturbed by the reports of a reduction in the price of gold, which accounts primarily for the drop in the values in gold securities. The Canadian authorilies ac-. cording to Mr. Rothenberger, are equally as vigilant in (their efforts to stamp out security frauds as are those in the United States. As a matter of fact, he said, the officials of the two countries are co-oper-ating very closely in that respect. High-pressure promoters w migrated to Canada after the passage of the Securities Act in this|counBot did not find the easy pickings they had anticipated. Most of them already have been driven out of business.

Of the money used in prospecting for gold in the Dominion and the development of mines there, Mr. Rothenberger estimates that onethird has come from the United States. People in Montreal and Toronto have raised a large centage of the balance, he repo and still have plenty of funds available with which to carry on this work.

RAILROAD EXHIBITS NEW LOCOMOTIVE

Times Special : ATLANTIC CITY, Jun e21.—Featuring the latest in locomotive design and construction, the Baltimore and Ohio Railroad exhibi here today during the current sixteenth annual meeting of the mechanical division of the Assn. of erican Railroads, which lasts until June 23, the first 4-4-4-4 type, 4-cylinder single unit, single expansion | steam locomotive ever built.

Named the George H. Emerson, in honor of the present chief of motive power and equipment (of the road, the new steam engine was completed on June 3 in the Mount Clare shops of the company in Baltimore.

MONEY MARKET

NEW Y yon: ane 21.—Money rates ‘were unchanged tod

1-16% 60 Acceptane ) days. 9.16 iedita: “a

Jays, 3% @8-16%: days, %@ Commercial Paper—Prime names, 1 Time Mone ana 90 days. 1%: 3 150 and 180

s. 132 Rediscount Tate at New York, 1%%

3! ¥y ® 2 a x . {

[WHEAT PRICES |

JUMP 2 CENTS IN CHICAGO PIT

Corn Also Advances When Early Offerings Are

Absorbed. iB

By United Press 3 CHICAGO, June credited to Eastern interests, strength in Winnipeg and a higher tone in Kansas City, turned wheat prices a cent to more than 2 cents:

higher today on the Chicago Board .

of Trade.

At the end of the first hour wheat was 13% to 21. cents higher, corn was 3 to 1 cent higher, and oats unchanged from Saturday's close. A comemntary on Saskatchewan prospects by H. C. Donovan of Chicago attracted considerable atten

t tion in the pit and furnished some

buying power. Mr. Donovan, now in Regina, reported that on a 300mile trip around the territory, wheat conditions were fully as bad as had been reported earlier with rains last week coming too late to be of much material benefit. Rust reports from Richland County, N. D., attracted further bullish attention. Wheat receipts were 135 cars. Selling in corn was relatively light after early offerings had been absorbed and strength in wheat gave added firmness to the secondary market. More or less spreading was noted. September corn was bought against sales of both July and December futures. Corn .receipts were 54 cars.

WAGON WHEAT iy graln elevators are paying $1.06 for red wheat, other grades on their it Cash corn Tew No. 2 yellow, $1.13. Qats, 33c. Hay—No. 1 timothy, $15@15. 50.

ARGENTINE GRAIN

BUENOS AIRES, June 21.—Grain ured speped steady. Wheat—July, $1.1 un= anged: August, $1.09%, I aa ' Corn =July, 5lc, unchanged; August. 51'ac, un= changed. Oats—June. 28c,. unchanged, Flax—July, $1.27%, Snchouzens August, $1.28, unchanged.

NEW BOND ISSUES

| By w. L. Lyons & Co.) Bid Ask Ass’d Tel 4s '66 104'> 105% Atl oy Sa 04 coaiiinien ess 930 2 9 B&O 3 % BF on ®sons 5s "47 Calif Oro Prw 3s 66. ....5.... 93 Celotex 45s ’4 ¢

Sent Maine ner 3os Cinti G & E 3'2s ’'66 Cinti G & E 3128 '67 C M O 23s '42 Fla Power 4s ’'66 Fla Power 4s '66 9 Houston Lt & Power 3l2s '66.. Indpls Water 32s ’66 9 Kansas P & L 4%2s '65 .... Koppers Co 4s "51 Los Angeles Rev 32s '77 Louisville G & E 3l2s '66 .... M Ed 4s’

N Y City 3 N Y State Elec Ses 4s "65, No St Re? Okla G & Be Okla G & E Inc 33 Pac Lighting as Sazewsy Stores is '49 Sou Kraft 4Vis '56 Sou Fell Tel 3's '62 Wisc G & E 3l>s '66 Wisc Pub Svc 4s °61

INVESTING CO.S

(By the New York Security Dealers Assn. "

Bid Asked Bid asked Adm Fd. 17.60 18.72/Natl In 6.94 17.11

58 173. 3.78 Quar Inc 17.00 4.10 Ren XL .

=O 0 LORI E00 La LI PD ab iata ia ina ag Sp NUD ED ~T3 13 £9 BI iin vba

Tr.. 36. Fidelity 26. " Ist Bos 24.37 Fix Tr A 12.68 Fd Inv 22.53

2.62 Fd Tr A 6.00 6.63 Sun New 13.57 5... 5.5 .

Trs Ind 143 Gen In D 94

6.6 19 Group TO * Oil A 17.75 Agri 1.9 206] OB 1.22 Auto. 5 32 ¥ 43 USELEPALS 62 Food pt 2.39

Mass In 268 A 28. 91 Mu In Fd 15.19 16760, well “Fd 18.08

JUNE BUILDING GAIN. SMALLEST FOR YEAR

Times Special NEW YORK, June 21.—The vole ume of new construction started so far this month has shown the smallest gain from 1936 recorded this year, building industry spokes men held today. ’ They believe that unless there is a sharp spurt during the next few weeks the June aggregate will fall below that of May, when total volume for 37 eastern states was $244,112,800, a gain of 13 per cent. Despite easing off, the spokesmen pointed out, the industry 1s firm in its belief that for the year as a whole building volume will show a substantial increase over 1936.

FREIGHT LOADINGS, INCREASE IN WEEK

By United Press : WASHINGTON, June 21.—The Association of American Railroads reported today that loading of Revenue®reight for the week ended June 12 totaled 754,360 cars, an increase of 62,220 cars or 9 per cent above the preceding week. Loadings for the week reported were 67,717 cars or 99 per cent above the corresponding week in 1936 and 102,249 cars or 15.7 per cent above the Sorresponding week in 1935.

ELKHART BANK JOINS. FEDERAL RESERVE

CHICAGO, June 21.—St. Joseph Valley Bank, Elkhart, which has ben operating as an unrestricted, nonmember bank, has been admitted to the Federal Reserve System and has been licensed as a

member bank by the Federal Ree-

serve Bank of Chicago, at the di= rection of the Secretary of Treasury.

BEMIS ETTER SERVICE

1318 Merchants Bank

AUTOMATICALLY TYPED ADDRISSING & MAILING MULTIGRAPHING STENCILS GUT MIMEOGRAPHING RULED FORMS UP TO 14° X 20° TWO NOTARY

L-6122

21.—Buying,

TYPEWRITTEN LETTERS

Sa LH

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