Indianapolis Times, Indianapolis, Marion County, 23 June 1937 — Page 16

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PAGE 16

COMPLETE N. Y. EXCHANGE STOCKS

. THE INDIANAPOLIS TIMES

e Times Financial and Market Page « -

WEDNESDAY, JUNE 23, 1937

COMPLETE LOCAL LIVESTOCK

$ .

U.S. STEEL J

MORE THAN

BONDS

Phillip Morris Jumps To New High, | Up 3.

By United Press

NEW YORK, June 23. —

.U. S. Steel common stock ap-

proached par to head a rise of 1 to more than 2 points on the Stock Exchange during the morning trading today.

Steel reached 98 for a gain of 2% points and Bethlehem was at 83, up 1!2 points. Reépublic gained a point to 35, Youngstown Sheet & Tube rallied after an early decline. A rise lin prices on the London Metal Exchange helped the nonefrrous metal issues where Amer-

jcan Smelting touched 84'z, up 2%. |

Gains of a point or more were made by Chrysler, American Telephone, Canada Dry, Douglas Air=craft, International Harvestetr, New York Central, and Sears Roebuck. Philip Morris made a new high at 85, up 3 points. Domestic corporation bonds were narrowly irregular in dull trading today. U. S. Government loans were steady. Industrials assumed leadership 6f an irregular advance in curb stocks in quiet trading today.

FIRST HOUR

The opening was irregular and slightly more active. were best, U. S. Steel common opening in a 1000-share block at 97, up 15%. Bethlehem had 1 point gain Lo §215. Chrysler was 9 higher to 1003:, and General Motors was up 1, to 504i. Trading then turned more active and the entire list moved forward under lead of U. S. Steel, which spurted to 977s. Bethlehem moved up to 83, Chrysler to 1011, and General Motors to 50%. Metals strengthened, American Smelting rising 17s to 837%, and Anaconda gaining a “point to 51. New York Central was up a point to 39. Sears Roebuck and International Harvester were up 115 each to 88% and 108, respectively. Utilities firmed and oils had small gains. Sales approximated 180,000 shares against 140,000 in the first hour yesterday. Dow-Jones averages: Industrial 169.19, up .99; railroad 53.08, vp 22; utility 26.51, up .14.

SECOND HOUR

Trading quieted and gains in most sections were extended early in the hour. U. S. Steel moved vp to 98. Republic had 1 point gain to 35. Philip Morris was up 3 points to a new high at 85. American Telephone sold at 165!2, up 1's. Canada Dry was 11; higher at 273%. Cerro de Pasco had 1% gain to 63. Chrysler sold at 101%. Douglas was up 14 to 58!'i. Sears Roebuck sold at 8815. Toward the end of the hour prices slipped off from the highs in all sectionsfl. Utilities showed most resistance. Western Union sold at 48, off 114. Sales approximated 90,000 shares, against 100,000 in the second hour yesterday. Dow-Jones averages: Industrial, 168.90, up .70; rail, 53.02, up .16; utility, 26.47, up .10. " " 2

Today's Business At a Glance

CORPORATION NEWS

American Car & Foundry Co, fiscal year ended April 30, net profit $1,210,676, or $4.18 a share on 7 per cent preferred, vs. net loss $582,515 in previous year. Arkansas Power & Light Co. 12 months ended May 31, net income $1,424,713, vs. $894,304 year ago. Associated Gas & Electric Co, week ended June 18, net electric output, 887,373,638 kilowatt-hours,

"an increase of 14 per cent over 1936

week. Florida Power & Light Co, 12 months ended May 31, net income $1,612,707, vs. $915,610 year ago. Harvard Brewing Co. and subsid-

~iaries, six months ended March 31,

net profit $69,609, vs. net profit $76,700 in six months ended March 31, 1936. Northern Staté€s Power Co. of Minnesota, 12 months ended April 30, net income $5,398,649, vs. $4,663,215 in preceding 12 months. Pacific Power & Light Co. .12 months ended May 31, net income $730,565, vs. $667,518 year ago. , Portland Gas &| Coke Co. 12 months ended May 31, net income $199,655, vs. $16,795 year ago. Southern Pacific {Co., own lines week ended June 19, loading totaled 31,812, vs. 30,846 in previous week and 27,293 year ago. Texas Power & | Light Co. 12 months ended May 31, net income $2,006,763, vs. $2,019,854 year ago. Wabash Railway |Co., own lines week ended June 19, loadings totaled 4,981, vs. 4,786 in previous week and 5,249 year ago.

Union Pacific R. R. Co. May net’

operating income $569, 133 vs. $349,161 year ago; 5 months net operat-

Steel shares’

> » 8 2

MARKETS AT A GLANCE

Stocks higher under lead of U. S. Steel. Bonds irregularly higher; Governments steady and quiet. . Curb stocks irregularly higher and quiet. Chicago stocks irregularly higher. Call money 1 per cent. Foreign exchange easy in relation to the dollar. Cotton futures steady and quiet. Grains at Chicago easy under lead of wheat, Rubber futures lower. Silver in New York 4434 a fine ounce, unchanged.

Curb Stocks

Alum Ltd ...., Am Box Brd Am Cyan B Am Gen Cp Am Maracaibo .... Ark NG A Barium Stl ... Can Marconi . Carrier Cor

> >

gas gy NORE R@ NN qa

Creole ePt Cusi Mexic Eagle Picher L ... El B & Sh

qe NY eS eet a

Equity Cp ... Fisk Buber . Ford Can A ... Grd Nat Films Gulf O

Bod a COND ONE UI0 DD lr UTD

Lockheed Niag H Pwr ... PS Ind $7 p pf.. Root Petro Rustless I & Segal Lock New Sherwin-Ww ...cecee.. SO Ky (L) .... S O Ohio (L) Technicolor .. Un G Corp .. Un Lt P A .. Wright Har erseun

Chicago Stocks

Armour & Co Allied’ Lab ‘ 7

Borg i, 3's

Wat et COUT DI bd dk pd ORD =D ODI IDI = DI =D PO

—

LIA OR NY a

Tarn Cd om

Gt Lakes Dredge Ry Util cu pf ... Lion Oil Ref Noblitt-Sparks Pict Paper Potter as Trane

ES Sadia 3375

ing income $4,141,274 vs. $3,167,044 year ago. Wesson Oil & Snowdrift Co., Inc. and subsidiaries, 9 months ended May 31, net profit $3,716,031 vs. $2,139,053 for 9 months ended May 31, 1936. . Brooklyn - Manhattan Transit Corp., 11 months ended May 31 net income $4,277,247, equal to $3.85 a common share vs. revised net income $4,521,422, or $4.28 a common share in first 11 months of preceding fiscal year. Brooklyn & Queens Transit .Corp., 11 months ended May 31, net income $619,174, equal to $2.18 a share of $6 preferred vs. $1,102,262, or $3.89 a preferred share in first 11 months of preceding fiscal year. Dominion Stores, Ltd., total sales 24 weeks June 12, $9,044,422 vs. $8,870,339 year ago. Northern States Power Co., electric output for week ended June 19, 24,344,139 kwh, an increase of 6.3 per cent over like week last year. DIVIDENDS Consolidated Retail - Stores, Inc., $28 in full payment of arrears and regular quarterly $2 on 8 per cent preferred, both payable July 2 record July 1. Norfolk & Western Railway Co., regular quarterly $2.50 a common share payahle Sept..18 record August 31. Shell Union Oil Corp. 50 cents a common share, payable July 15 record July 6 vs. 25 cents on Dec. 15, 1936, the first distribution on common stock since 1930. Yale & Towne Mfg. Co., 15 cents payable Oct. 1 record Sept. 10 vs. like amount on July 1. Revere Copper & Brass, Inc., $1.75 on 7 per cent preferred and $1.31% on 5% per cent preferred, both payable August 2 record July 10 vs. like amounts on May 1.

rly $2 payable Aug. 2 record July

Link-Belt Co., regular quarterly 50 cents on common payable Sept. 1 record Aug. 14. Alpha Portland Cement Co. 25 cents on commion, payable Sept. 25 record Sept. 1, vs. like amount on June 25. Columbia Pictures Corp. semiannual 2* per cent a common share, payable Aug. 23 record Aug. 9. Dennison Mfg. Co., regular quarterly $2 on 8 per cent cumulative debenture stock, payable Aug. 2 record July 20, vs. like amount on May 1. Elgin National Watch Co. 50 cents, payable Sept. 15 record Sept. 1, vs. like amount on June 15. Hershey Chocolate Corp., regular 50 cents on common, payable Aug. 2 record July 15. (Copyright, 1937, by United Press)

For Final Stock Quotations See Later Editions of

The Indianapolis Times

Nat Gypsum ..

Boston Edison Co., regular quar-

LATEST NEW YORK STOCKS

By United Press Net : High Tow Close Change Am R Mill .... 33% 33% + Am Seating 2 Am Smelt ..... Am Stl Fdies.. Am T & T ....164 Am Tob B, ‘ven Am Type F . Am Water W . Anaconda ..... Arm Ill Armstrong Ck.. Atl Ref

+ 1%

11 11 61%s 61% 28 2

8 6%

I+ +++ ++:

Beth Stl 5 pf.. Boering Air ... Borden

Pid dl

8 { 7/8 Boeing Air rts 2% 2%

—C— | Calumet & H.. 135% 13% Can Pacific Carriers & Gen Caterpillar T .. Certain-teed ...

Cons Oil. . ’ Cons Coal vie. Container roe

Container rt ...1 Cont Oil Del. Corn Prod Corn Prod pf.. Crane Co c¢

Curtis Pub

Deere & Co..

. 573 eeu. 154 154

—E— Elec P&L ..... 18 El P&L $7 pf.. 68% —F—

1734 68Y4

Foster Wheel .. Freept-Sul

Gen

Gt North pf . Greyhnd Corp .

Hat Corp

>| Hecker onod

Houd-Her pr Houston oil he Howe Sound . Hudson Mot ...

Il Central ... Ingersoll R ...

n or Intst DS ....

Kennecott ... Kroger G & B:

Loft, In Lone Star Cem.¢ Lorillard 2

McKeesport .... Mack Tr Macy R H Marine Mid . Midland Stl.. Mo- Tex Mo-K Tex pt." Mont Ward Mother Lode ..

Nash-Kelv .. Nat C Reg A. Nat Dairy 2 Nat Distillers .. Nat P

Nat Supply .... Nat Sup pf....123

3 NY C & SL.... 5273 NY C & StL pf 85 N Y NH & H pf 13% NYO&W.... 2p

LOCAL ISSUES

The following quotations do not represent actual bids or offerings. but merely indicate the approximate market level as furnished by the brokers named. - (By Indianapolis Bond & Share Corp.)

BONDS

212

ens Ind Tel (TH) 4%s 61....100 Tel & /2

Ind Assoc Tel 4%: Indiana Tel Co 5s 60 Indpls Railway 3s 5s 67 Indpls Water Co 4'2s 6 Interstate Tel & Tel 52s 53... 97 Kokomo Water Works 5s 58... Kuhner Packing Co 4%2s 49.... 97 Morris 5&10 Stores 5s 50 100 Muncie-Water Works 5s 65.... Noblesville H L & P 62s 47...102 Ohio Tel Serv 6s 47 Richmond Ww 5 Seymour Water Co 5s 49 T H Trac & L 5s sures T H Water Works i 56.

Trac Term Co 5s 57

xBelt Railroad & St Yds cum. xBelt -Railroad & St Yds pid Cent Ind Power pf Ts xHook Drug In xInd & pen Ecc Co pfd Ts... 2 Ind Gas C 2 xInd Gen ors Ho 6s xInd Hydro Elec Co 08 xIndpls Pwr. & Lt Co p xIndpls Pwr & Lt C $0, Indpls Water Co pfd ¢ Lincoln Natl Life Ins co com. id N Ind Pub Serv pf Ts 8 N Ind Pub Serv Co pid, 8 N Ind Pub Serv pfd 5% P R Mallory Co com how) | Progress Laundry Co Pub Serv Co of Ind 65...

Lo tees v1 17

p m PU Terre Haute Elec Co 6s... Pees “ Union Title Co com Van Camp Milk Co pfd Van Camp Milk Co com xEx-Dividend.

5 Oo)

M. P. Cris , Market ste Vnvesting Corp.... 32.58 34.65

LOCAL PRODUCE

(The prices quoted are paid tor stock gas bored in the country while for deliveries in Indjanspolis the prices are 1 cent higher. Each full case of eggs must weigh 55 pounds gross.)

do Ernsw=No. 1 strictly fresh. loss oft. 15¢

5 Ibs. and over, 12c:

Heavy breed hens, Heavy breed broilers.

Leghorn hens, 8c.

, 1937 sto ck, Bareback broilers. over, 12c. Old roosters, feathered and fat, S. Geese, full-feathered and fat.

C. NE SSL OroR me ery, No. 1, 32@ 32s. Butterfat—No.

‘Ducks, fulland Je 6c. to 14 lbs.

34% Ssh: . 30c:

~ PRICE INDEX AND COMMODITY QUOTATIONS

DAILY PRICE INDEX NEW YORK, June 23.—Dun & Bradstreet’s daily weighted price index of 30 basic commodities, compiled for the United Press (1930-1932 average 100):

Yesterday .........142.23 Year ago .141.64 | 1937 high (April 5). Month ago ........147.24 i 1937 low (June 21).

Week ago

serves cen

Following are the commodity prices used in compiling the

index:

Todav $ 1.2515 1.1634 .9334 4814 9.125

A147

Commodity— Wheat, No. 2 red (bu.) ........ Corn, No. 2 yellow (bu.) Rye, No. 2 (bu.) Oats. No. 2 white (bu.) . Flour. spg. pat. (196-1b. sk.).. Lard, prime steam spt. (Ib) .. Coffee. Rio 7s spt. (1b) ... .0914 Sugar. raw 96 test (Ib) ......° 0345 Butter. 92 score (Ih) ........00 .301% Hogs, a7g. most sales (1b.) ... 1135 Stecrs, avg. most sales (Ib) .. 0600

tess

Commodity—

Wool. tine unw.

158.26 141.12

Lead. spot (lb. Zine, spot (lb.) Week Ago $ 1.2415 § 1.00% 1.15358 6734 94 10% 493g 333% 6.925 6.875 1150 .1060 0934 06% .0340 0375 .31 311% 1095 .1030 0620

Year

Ago Silver Comm] bars

Steel.

Cement.

Crude Oil,

scrap and hides.

Lambs, avg. most sales (l1b.) .. § Hides. native hvy. steers (Ib.).. comb. Cotton. Midupland (Ib.) Silk, 13-15 deniers Jap (lb.)... Rubber. spt. smk. rib (1b.) .... Copper. electrolytic (I1b.) ...... 14 14

cesses tseccs

Tin. Straits spot (lb.)

scrap Chicago Pig iron. Iron Age comp. Coke. Connelsville (ton) dom. Portland (bbl.) Yellow pine. 6-in base (m, ft.) Douglas fir. rough Gasoline, tank wagon (gal.) 40 gravity (bbl.) Source of Quotes—Chicago: Boston: nelsville; Coke. Tulsa: Crude oil. New York: All others.

Week Ago 1150 16% 40% 1243 1.89% 191%

Year Ago A195 A134 35% 1216 1.70 .16 09% 0460 0490 42% 44% 13.00 18.84 3.65 2.55 50.00 38.00

Today 1200 157% 41 1258 1.90% 1928

(ab.)..

060215 066212 5565 44% 15.75 23.25 4.60

2 9

ort

60.00 52.50

060214 .06621% 5514 443 15.95 23.25 4.60 2.25 60.00 52.50

(0z.) (ton) ... ton)

(m. ft.)

£0 oll (dollar)

DOW-JONES STOCK AVERAGES 30 INDUSTRIALS 1 +0.22 —1.54

Yesterday Week ago .165.86 Month a0 .+cieatvsesresses.176.70 Year ago ........ nee vw

High, 1937, 194.40; low, 165.51. High, 1936, 184.90; low, 143.11.

20 RAILROADS

.. 52386 53.57

®escescssccae

41.92

Yesterday Week ago Month ago Year ago High, 1937, 61.46; low, 52.75. High, 1936, 59.89; low, 40.66.

20 UTILITIES

sssessosscsconnas Sesecccsiggesnecense

ssesbsan

Yesterday Week ago asshvasesensvees Month 380 i tiheeresrnnse.. 2 Year ago High, 1937, 3 s High, 1936, Err ia 05. 70 STOCKS Yesterday ssessnseee.. 58.92 Week 380 ......ccocenceves.. 58.53 Month ago ......ccc.00vee... 61.39 Year ago ..... erhosTsivaedes TUB

High, 1937, 69.67; low, 54.48. High, 1936, 66.33; low, 51.20.

40.16 —0.17 -0.12 +-0.09

+0.13 —0.55 —0.08

Net . Bish Low Last Change Am 23 23 23 + Ys No Ane TA LAY NY NY Je

Ohio. Ofl ..... Omnibus .. Otis Elev Otis Steel ..

Phelps Dodg . 4 Ph Dodg Rts WI 5 Phil Morris. Press Stl Car.. Proctor & G... Public Serv Pure

Shell Un pf ... Simmons Socony-Vacuum. Cal Ed

sh be "EES EE oa

Superhtr Superior O .... Swift & Co .... Sym-Gld xw ..

DH]

13%

Pl Texas corp ceiid 575 Thomp Star ... Tide W A ot . 163% Timk-D Ax .... 202 Transamerica 12% 127% Tri-Con pf ....102% 102%

Und E Fish ...

Un Aircit Cp’ . Un Air Lines .. Un Carbon .... United Corp ... Un El Coal ..

Oh WO

wi Nr NDBOUR=0 DN SRE

~~ NS

Woolworth

NEW BOND ISSUES

(By W L. Lyons & Cod;

Ass’d Tel\4s 66 ........ Atl City 3%s 64 B & 2. 373 39 . B F Avery Sons 5s a sesenans Calif oe A! Sis 66 ... Celotex 4'2 Cent Maine: Pur 4s 60 ..

Sint G & E 3

Koppers Co 4s 51 .. Los Angeles Rev 3!2s 7 Louisville G & E 3'2s 66 Metro Ed 4s 65 Si iveaaei Nella Flee 31hs 66 Y City 3s 1 N Y Sore Elec Jas 45°65 ..... Northern State P 3'2s 67 Okla. G & BH 45 46 : Okla G & BE Inc 3'2s 66 Pac Lighting 4l%s 45 Safeway Stores 4s 9, Sou Kraft 4Ys 56 Sou Bell Tel 3's 62 . isc G & E 325 66 . Wisc Pub Svc 4s 61

BANK STOCKS

(By Blyth & Co., Inc.) —June 23—

xBankers Trust xCentral Hanover .... Chase National Chemical Bank & Trust XGuaranty Trust xIrving Trust xManufacturers Trust National City 421 Continental Ill Natl. Cheam. 1128 xFirst National Bk. Bos . 483% xNational CShawmut hon 2 National City, Cleveland FIRE INSURANCE xAetna Fire City of New York . Federal Franklin ‘eas Great Americal Sitineie xHanove ed Home ..... ...}. xNational Fire . North River .. U. ea:

i ooMPaNIES

Continental Casual Mass. Bonding & danas. oh

FOREIGN EXCHANGE

NEW YORK. June 23.—Opening foreign exchange lower.

Cable Rates England (pound) 4.94 9-16 Eng. (60-d. bill rate) 85 13-16

France (franc) Italy (lire) Belgium thelga) Germany (mark) .. Switzerland (franc) Holland (guilder) Spain (peseta) Sweden (krona) Norway (krone) Denmark (krone) .. Japan (yen)

CIGARET OUTPUT REACHES NEW HIGH

By United Prcss WASHINGTON, June 23.—Cigaret production in May reached a new high for the year, 8.6 per cent in excess of output in the same month last year, figures of the Bureau of Internal Revenue showed today. Production numbered 13,069,936,403 cigarets, compared with 12,024,856,900 last May, Large cigaret output was 251,600 against 268,342 in May, 1936. Large cigar output numbered 430,628,149 compared with 419,369,234 a year earlier, - while production of small cigars totaled 17,898,307 against 12,658,613 in May, 1936.

—.0001 - =—.0001 —.0002 —.0001

095 .092 1.18 tard.

Zino.

0935 1.2% 1.27 Grains. [(ivestock East St. Louis:

Wool. Con

ster: |

—=-0.09 y

40.48 |

Net High Low Last Change Ya 23%, 23% bY 80 Va

Yellow Tr .....

17%

Vanadium ..... 25%; 25%

FUTURE BANKER T0 AID COUNTRY

Rutgers Hears Tom K. Smith Speak on Executive Of the Future.

By United Press NEW BRUNSWICK, N. J., June 23.—Cardinal objectives of the bank-

to understand how to work with the Government, to benefit by its activities and to guard it from mistakes, Tom K. Smith, the American Bankers Association president, said in an address before the Graduate School of Banking. Mr. Smith spoke at the opening session of the school which is conducted jointly by the Association and Rutgers University. “I do not think I am idealistic in the painting of this picture,” he said, “for experience in recent years has impressed upon me the fact that a banker of this type is the only kind worthy of the respect of his customers and the confidence of his Government.” . He listed a sense of responsibility to the economic order as a whole and recognition of the quasi-public character of banking institutions as essential qualifications of the banker. “The time has passed when just anyone can be a ‘banker. Governmental authorities are charged with the responsibility of high standards in the character of banking institutions of the future. We should help them maintain that trust. In the future only men of proved ability as financiers should be permitted to hold managerial positions in our institutions. “We are engaged in an effort to build the banker of the future who will be attuned to his times, who will draw inspiration from the great leaders of the past and who will avoid the mistakes of others.” Mr. Smith said he believed that those who make up the official forces of banking institutions must realize that the Government has a responsibility to the nation as .a whole and will, during the rest of our lifetime at least, be a powerful factor in financial affairs.

LUSCOMBE CO. PLAN TO ENLARGE PLANT

By United Press NEW YORK, June 23.—The Luscombe Airplane Corp. of West Trenton, N. J., will undertake an expansion program involving the mass production on .an assembly line of several new types of all-metal planes | g ranging in price from less than $1500 to around $18,000, D. A. Luscombe, president, announced here today. The company is the only producer of small, all-metal planes. Its straight line assembly process for the building of airplanes from diecut metal parts is unique among its class of producer.

RAILROAD INCOME DROPS

By United Press NEW YORK, June 23.—The first eight Class 1 railroads to report for May had combined net operating income of $7,661,000, a drop of 12.1 per cent from May, 1936, despite an

increase of 8.3 per cent in the com-

bined gross, a. compilation showed today. While the earnings trend shown by these reports will not necessarily be duplicated by the industry as a whole, there is definite evidence of a higher operating cost situation prevailing in the industry.

BROKERS’ OPINION NEW YORK, June 23.—Brokerage opinion today: A. E. PIERCE & CO.—The market appears highly selective with best opportunities apparently being offered * by electrical equipment, farm equipment, mail order, copper and oil stocks. : LAMBORN, HUTCHINGS & CO. —Any definite turn in the news is likely to find the market sensitive either way. FRAZIER JELKE & CO.—We think the market would be much more responsive to.good news than to further bad news at this point;

outlook for.good news is none too favorable. J. S. BACHE & CO.—The near-

‘term market outlook continues to be

closely bound up with developments in the steel strike, and so long as news remains indecisive, a backing and filling market seems a nearby prospect. HORNBLOWER & WEEKS—The ability of the market to maintain the greater part of the gains registered last week in the face of a prolongation of the labor difficulties, would appear to add substance to our belief that the steel strike situation -reached a climax, coincident with the appointment of a Federal mediation board.

ing executive of tomorrow will- be,

but it must be admitted that the on

LIGHT RECEIPTS INDUCE RISE IN HOG PRICE HERE

Vealers Regain Yesterday’s Loss; Lambs Drop 25 Cents.

Light receipts stimulated a demand for hogs today according to the Bureau of Agricultural Economics, United States Department of Agriculture. All weighth, barrows and gilts rose 10 cents, carrying the top to $11.90. On choice 210 to 225 pound weights. Sows ranged strong to 10 cents higher, bulking at $9.75 to $10.50 with top at $10.60. Receipts were estimated at 3500 head. Killers were eager for cattle again today and prices for fed steefs and yearlings - pushed upward further. The market ranged strong to 25 cents higher in an active session. For the week to date values are now fully 50c up. While good and choice grades met the best buying response from shippers, common and medium grades suffered none and generally shared in the improve | & ment. Choice mediumweight steers topped at $13.75. There were yvearlings at $13.25 and light yearlings, $13.00. Regaining yesterday's 50c loss, vealers sold actively to all interests at $9.50 to $10.00 for good to choice offerings. Values in the lamb division declined 25 cents even under moderate supplies. Good to choice springers cashed at $10.75 to $11.25, medium sorts from $9.50 to $10.25 and common kinds downward to $8.00.

HOGS

a OPO NUIWNT VOOUVO UO

Receipts | 4000

fd hh ek pd od fet et

Light Tighe 140-160) Good and predin um

Lightweight (160-180) Good and Medium

Medium Wei Shum (200-220) Good and (220-250) Good and Reavywels hts— 250-290) Good and (390- 3s) God and Packing 5° (275-350) Sond die oe (350-425) Good .... (425-450) God (275-500) Medium Slaughter Pigs (100-140) Sood and choice. . dium

choice. . choice...

Pt fh hd pd ed pd pt Ned © 10;

tt pd pd pd et pd ph 4 UO oun OS O00 a533

choice. . choice. .

SS)

ht th dp PO. POLS WS Lr

[SIS]

—Receipts, 1200—

M (900-1100) G

C (1100-1300) G

Bhp hp pk td pd ph HP CO HP CO 4 CO i CO 4 CO

DUO LILI T on enc ooo UeOoS

M (1350-1500) Good

Heifers Choise ood HE

mon Good and choice. . Common, medium. 11.

Cows ~ choice........

(500-750)

DD DDISDLED

Ra POD UNO Ut = BERR So =aw GOO UO

(750-900)

3 J pk ht pt

— S300

Good, 2nd Medi ey ter and cutter ... Bulls, good Cutter,

e333 Loo DL oooRO SEESH] oU—IL owuo,m

com .Vealers —Receipts, 800—

Good and choice Medium Cull and common Calves

[email protected] 8.00@ 9.00 6.00@ 8.00

-500) Soog and choice..$ [email protected] “ss -500 mmon, medium. 6.00@ 8.50 Foo and Stocker Cattle (500-800) Good and choice.. Common, medium. (800-1050) Good and choice.. Common, medium Heifers— Good and choice Common and medium SHEEP AND LAMBS —Receipts, 800—

Spiing L Lambs—

sesessessassnesrns

horn 8 (90-1 175) “Good and choice. . mmon, medium.

By Unites Press ; : HICAGO, June 23. — Ho 5 -Roce s 12, B00, including 0 direc mar fully 10 cents Digher; top, $11. 75! paid is quently: bulk good and choice 200-300 1bs., [email protected]; comparable, 150-190 1bs., $11 @11.60; few choice strongweight Pigs, $10. 50@ 10.85; ack good 350-500-1b. pac ing sows, $9. 75 Cattle.Receipts 8000; calves, 1500; another active market on grain fed steers and yearlings, strong to 15 cents higher; strictly grain-fed kinds grading good and better showing most advance; shippers and order buyers active; numerous loads, [email protected]; . sizeable sprinkling steers scaling 1150 Bs up at $15 and better; extreme top, 5.65 on weighty bullocks; next highest 3 $15.50; best yearlings, $14.50; heifer yearlings, $13. 30; all grade cows and heifers, mainyl grassy kinds, selling actively at steady to strong prices; the general market being one of the most active sessions here this week, bulls, sausage and fat, in broad demand; wei ghty, sausage kinds to $7.25; most fat Bulls, Tiles vealers, $9@10; very few stock a ere. Sheep—Feceipts, 11,000, including 7300 directs; native spring lambs and yearlings, slow, stcady to weak; early sales native springéfs mostly $11. 5@12; some lacking finish, $11.50; extreem top, $12.25 for small lots strictly choice to yard traders; double medium to good Idaho springers, - $11: steady; slaughter ewes, [email protected]. ’ AYNE, June = Hi gs—b cents W, 250-2175 jus. ’

sheep,

$11.40; 16 $11; 14 $10. $10.25; 120-130 Ibs., $10; 100- 120 !bs., $ roughs, $9. 33! stags, $8. 50. Calves, Lambs, $10.7 AS

June 23. —Hogs—Market, 210-

; 160- 1.40@ $0. 30010 75; 130-150 1bs., $10@10. 25; 100-130 1bs., [email protected]; roughs, Se down. Calves, $9 Hine Lambs, $10.50 own.

FREIGHT CAR ORDER HIGHEST SINCE 1924

WASHINGTON, June 23.—Class 1 railroads had 45,176 new freight cars on order on June 1, highest for that date since 1924, the Association of American Railroads reported today. On June 1, 1936, there were 25,748 cars on order, and on the same date in 1935, only 1479, the Association

said. a

‘NEW YORK CHICAGO TORONTO SOUTH BEND FT. WAYNE EVANSVILLE BOSTON CINCINNATI

Indianapolis Office 200-214 Circle Tower

Thomson & McKinnon

New York Stock Exchange New

Chicago Stock Exchange Chicago Board of Trade Winnipeg Grain Exchange

MEMBERS

York Curb Exchange York Cotton Exchange York Coffee and Sugar Exchange Orleans Cotton Exchange

And Other Leading Exchanges

L1. 5501

New York Bonds

By United Press

BOND PRICE INDEXES 20 20 20 60 Inds. Rails Util. Bonds ... 91.0 92.5 100.3 91.6 93.6 100.6 95.0 95.0 101.6 96.1 93.1 1055 96.5 81.4 99.3 89.5 101.2 106.0 100.7 92.8 100.6 94.6 100.4 106.2 100.2 84.7 103.5

Yesterday Week ago Month ago .... Year ago Two years ago . 87.7 1937 high ...... 95.0 1937 low ve. 90.8 1936 high 94.8 1936 low ....... 90.0 1935 high 86.4 103.6 93.1 1935 low 71.0 89.3 83.0 (Copyright, hy Standard Statistics)

91.7

U. S. GOVERNMENT BONDS Treasury Bonds

2Y2s 1953-49 2%s 1954-51 . 2%ss 1960-55 LAND BANK BONDS Bid Ask Yield 5% 10078 2. 1007 100%

Last.

sue July Jan, May May July 1 Nov. May May Nov. DOMESTIC BONDS : Hf h Anti 5s 53 (M) Am & For P 55 2030.. ATT deb P52;

Can Pac 7.1 4s perp. Cen Pac 5s 60

Cons Edis Ses 56. Contain Cor 6 a Del & Hud rel & alll

Morris & Es 5s Nat Steel 4s 65 053 NYCent ref 5s 2013 ... 5 NYC St L es C 98....

Postal T&C °ss 53 StL SF 4s A 50 Seabd Aly fine 6s 45. Soc Vac 3l.s 50 So pais 4 :S 68 Stan Oil NJ 3s 61 Third Av adj 5s 60.....

FOREIGN BONDS

INVESTING CO.’S

(By the New York Security Dealers Assn.) Asked Asked 18.56/Md Fd. 8. 37 Mass Inv 26.62 28.24 nv. 15.12 16.53 1.24|Natl Inv. | 6.92 7.09 7.81N E Pd . 17.90 19.25 IN Y Stocks Inc 35.28) Bldg 11.08 45. 00] Elec Eq 11.69 2% 06) Insur.. 10.10 Mach . 12 31 In 3.75 508! RR Eq. 13.58 Dep jn A 3.38 read res] - 13.59 B. 2 17 r Sec . 72.00 «PP... 605 7. 70lGnar Inc, 16.90 Fidelity. . 25.95 27.95/Rep Tr.. 13.02 1st Fos. . 23.37 24.87 Sel Am I 13.68 PixTr A 1262 ....!Sp Trask. 19.56 “'B.... 10, 1

Bid . 17.45 9.47 10. 4.37 26.12/Mut I 1.12 .0

Std A 23.75! Std Util, 6. ple A Gen Inv. 6.56 7.14] Group Securities dg .. 1.95 RR Eg. 1. BB. Inv S 1.47 !Sup New. 13.44 Inc Invs. 23. §3 a Ind - 1.42 Ins G Sh 1.5 + St ny 2.99 Inv Fd C 14. o8 Oil A Keystone ' 20.49

U. S. STATEMENT

WASHINGTON, June 23.—Government expenses and receipts for the current fiscal year through June 21, compared with a year ago:

Rel 1. 17.92 19.66

This Year Last Year

.$7,936,094,366.59 $8,671,058,276.29 5,152,019,246.16 4,029, a £28. 85 84,075,120.43 4,461.643,649.44 Cash Bal... 2,554,527,877.76 3,459,196, 975. 96 Work Bal . 1,039,262,156.94 3,000,175. 307.53 Pub. Debt .36,390,836,531.34 34,331,836,012.93 Gold Rey AA a 10,549,304.471 03 Customs. 475, 2 1761.12 377.128. 355. 817 To s Purc. Total P Inactive Gold $1, 054, 311. 62 $1,010, B44, 525. 133

LABOR COSTS JUMP IN MANUFACTURING

By United Press NEW YORK, June 23.—The cost of labor in manufacturing, based on statistics for the month of April, has risen 17.7 per cent per manhour above the 1929 level, the National Industrial Conference Board reported today.

Output per man-hour has aR creased 27.6 per cent since 1929, the Board added, largely as a result of mechanization and improved operation methods. While labor cost per unit of product was 7.5 per cent lower, the labor cost per $100 of output was practically the same as in 1929, due to the lower level in wholesale prices of finished products. Compared with the 1936 average, the Board’s analysis shows an increase in April, 1937, of 10.7 per cent in labor cost per man-hour, 7.7 per cent in labor cost per unit of product and a relatively slight increase in labor cost per $100 of output.

LUMBER BUSINESS DECREASES IN JUNE

By United Press WASHINGTON, June 23.—New business booked by the lumber industry in the week ended June 12 fell to the lowest level this year, but shipments and production held up well, the report of the National Lumber Manufacturers Association showed today. Production for the week was at 82 per cent of the 1929 weekly average of production and shipments at 80 per cent of the average for that year. The 530 mills reporting, 6 per cent less than the 565 in the preceding holiday week, had production of 284,302,000 feet of hardwoods and softwoods combined, an increase of 4 per cent above the 272,509,000 feet a week earlier.

Expenses . Receipts Deficit .... 2.7

93.3 |"

99.18 100.12 100.12.

| ment of Miss Edna Weill,

LIVERPOOL DROP PRESSES WHEAT OFF IN CHICAGO

Corn Continues Weak With Few Takers for Offerings.

By United Press CHICAGO, June 23.—Pressure on wheat continued today and prices declined on the Chicago Board of trade. At the end of the first hour wheat was 7 to 13% cents lower. Corn was 15 to %4 cents lower and oats gained 1s cent against the trend, unchanged to lk «cent higher, Selling based on Weaknase at Live erpool continued through the early . part of the session. Quite a bit of. today’s selling came from houses with Eastern connections and there was some selling for Dominion ine terests. The weather map failed te show much rain in the American spring wheat belt except in the far northwest. Wheat. receipts were 18 cars. Corn prices continued weak in light selling pressure. There wers few takers for the offerings. Corn receipts were 37 cars.

WAGON WHEAT City grain elevators are paying $1.13 for No. 1 red wheat, other grades on their merits, Cash corn new No. 2 yellow, $1.13, Oats, 33c. Hay—No. 1 timothy, $15@15. 50.

ARGENTINE GRAIN BUENOS AIRES, June 23 Crain fue tures opened irregularly lowe Wheat—dJuly, $1.13%, off Yee: 1a 34C. Corn—July, . 5134c, off ec. sc. Flax—July, changed; August, $1.29, up Ysc.

LIVERPOOL WHEAT

; August, 51'%c,

High {eosees $1.2875 $1.55 {vaveess 1.2715 1.24% 1.25%2 ' 1.25% 1.24 1.25

FOOD PRICES

CHICAGO, June 23. —Apples— Willow Twigs, | $1.75@2. Sweet Potatoes—Tennese see Nancy Halls, [email protected]. Carrots— California, [email protected]. Spinach—Illi= nois, hu., . Tomatoes—Texas, $1.75@2. Caulifiower—California, $1.40@ 1.60. Peas—California, $1.40@ 1.90. Celery—Michigan, sl@l. 2B.

MON EY MARKET

NEW YORK, June 23.—Money rates res mained unchanged today. anker’s Acceptances—30 days, 15@ 7-16¢%; 60 and 90 days, l2@7-16%5: 120 gays 9-16@ 127%; 150 and 180 days, 5:@ J A Jd Commercial Paper—Prime names, 19. Time Money—60 and 90 days, 1% %; 120, 150 and 180 days. 1% %. Rediscount rate at New York, 129%

CULT’S ‘SANCTIFIED’ GIRL TRIAL WITNESS

By United Press LOS ANGELES, June 23.—The religious element was barred today from the morality trial of John Wuest Hunt, rich, white associate of the Negro cult leader, Father Divine. Hunt was charged with transport ing Delight Jewett, an attractive 17-year-old high school girl he found in Denver, across state lines for immoral purposes. The girl testified yesterday that Hunt “sanctified” her as the cull's “Virgin- Mary” and then seduced her. ‘Hunt called himself “Jesus the Christ,” and told her, she said, that their progeny by immaculate conception would be a new world, re= deemer whom they would name “St, John the Divine.”

CANADA AIR LINES BUY SEVEN PLANES

By United Press LOS ANGELES, June 23.—The newly erected Trans-Canada Air Lines, a Government-subsidized project representing the culmination of a 28-year aeronautical goal of the Dominion, has purchased four Lockheed “14S” and three “Electras at an approximate cost of $475,000, Robert E. Gross, Lockheed president, announced today.

1.26%

crates, hampers, flat crates,

WOOL MARKET IDLE By United Press BOSTON, June 23.—Trade on spot wools is practically at a standstill, the U. S. Agriculture Deparfment reported. Because of a strike by wool hane dlers in the Boston market, wools stored in the city could not be moved. It was reported, however, that buying had increased in the Middle West. This was attributed by some Boston houses to the in=ability of buyers to get wools in Bose ton.

GET $15 LOOT

Burglars who entered the aparte 26 E, 14th St., yesterday escaped with two purses cintaining $15, she Te=

_borfed to police today.

SAFE DEPOSIT | ~ BOXES

Reasonable Rental i

Security Trust Co." 130 E. Washington -

Member Federal Deposit = | Insurance Corp. so.

“~

Would You Like to Have $1 0007

Note how small sums saved each” pay day, helped by compound.’ dividends, will place at your " command a definite sum of * money. Check your needs. Share Dividend Rates: 3% | 1% Invest each Month

$15.44 $s. 05 7.15 6.78

Ts have $1,000 in

5 years...... l0- years.. . 4.08 20 vears wees 2.73 “The dividend rate of a Federal Bavings and Loan Association is not fixed, because it depends upon earnings which vary according to loSally and current business condions Pocket Thrift Banks Free on Request.

FEDERAL SAVINGS AND LOAN GRRE

Bi Virginia [om [3

INDIANAPOLIS,

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RATE 3