Indianapolis Times, Indianapolis, Marion County, 25 June 1937 — Page 26

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PAGE 26

THE INDIANAPOLIS TIMES

FRIDAY, JUNE 25, 1087

4 aT F

lL complete ) EN. Y. EXCHANGE Ae >" STOCKS

: The Times Financial and Market Page

COMPLETE LOCAL

x LIVESTOCK

STOCKS IRREGULAR. IN LIGHT TURNOVER; STEEL ISSUES FIRM,

Vary From Narrow Range At New York.

By United Press

NEW YORK, June 25.— Stock trading continued light today with prices moving irregularly in a narrow range.

Exceptions to the narrow fluctuations were National Supp new stock at a new high of 364 up 3a; National Dairy Products at a new ‘low of 18!s off 13s; Air Reduction 691: up 1!2; du Pont 154 up 1; Hiram Walker 463: up 1; and Tide Water-Associated Oil 18 up 1 Steel shares were firm at the outset with U S Steel crosisng par but dipped from the highs and

‘were irregular around noon Rail-

road issues eased fractionally Utilities were firm with Consolidated

; Edison up nearly a point at 331.

¥slightly.

- shares

Chrysler registered a small gain while General Motors was easier. FIRST HOUR

Stocks were quiet and firm. U. S. Steel opened 2000 shares at 1003s, up 7%. Republic was up ! to 36% on a 10000-share block. Bethlehem sold at 85%, up 4. Metals were steady. Kennecott opened at 583s, off 4 and International Nickle at 593%, off 1%. Westinghouse was up 1% to 1427. Utilities were firm with consolidated Edison up 3 to 33. Chrysler opened at 102, up 1% and General Motors at 51% up ? Rails and oils were steady. Gold firmed. Trading fell off and all sections eased U. S. Steel sold at 1001s, Bethlehem at 83, Kennecott at 58, International Nickle at 587s, General Motors at 50%:. Utilities firmed against the trend. National Supply |G new, rose 2'> to a new high at 35. National Dairy reached a new low at 19, off %. Sales approximated 150,000 shares | \

further

against 130,000 yesterday. Dow-Jones | b

averages; Industrial 170-45, up 0.37; Railroads 53.14, off 0.01; Utility

. 26.34, up 0.16.

SECOND HOUR Trading was quiet. steels eased further, but other sections were fairly steady. U. S. Steel eased to 99%: and Bethlehem to 84%:. Kenecott sold at 57% and International Nickel at 58%. Gold mining shares were up with Homestake new at 493%, up 1% and Dome 40';, up %. Atchison, Topeka & Santa Fe eased : to 7912, but other rails were mostly steady. Chesapeake Corp. was up 2 to 69%. Du Pont was 1%. higher at 154, East-

‘man Kodak 171, up 1, National Sup-

ply new 36%, up 3%; Hiram Walker | 46% i up 1, and Westinghouse 14115, up 4. Oils and utilities were steady. Sales approximated 100,000 against

. 80,000 in the second hour yesterday.

Dow-Jones averages: Industrial 170.21, up 0.13; railroads 53.06, off 0.09; utility 26.40 up 0.22.

" ” =

Today's Business At a Glance

GENERAL BUSINESS ; Retail trade for the nation this week rose 2 to 5 per cent over the preceding week and 12° to 22 per cent over the corresponding 1936 week, according to Dun & Bradstreet. Strikes offset in part effects of warmer weather and vacation business. CORPORATION NEWS American Gas & Electric Corp, 12 months ended April 30, net income, $12,504,447 or $2.31 a common

. share vs. $10,899,229 or $1.59 a com-

‘mon share in the "preceding 12

! months.

American Power & Light Co., 12

! months ended May 31, net income,

$10,989,297 vs. $9,007,274 in preceding 12 months. Louisville Gas & Electric Co., 12 months ended April 30, net income,

"> $1,550,681 or $1.75 a share on com-

bined “A” and “B” .commoi Vs, reviséd net income $1,594,784 or $1.77 on combined commen in- preceding 12 months. Oklahoma Naturdl’ Gas Co. and Subsidiary, net income 12 months ended May 31, $1,307.836 vs. $948,089 year ago. Pennsylvania-R. R. Co, May net. operating income $3,036, 111 vs. $6,~ 859,392 in May year ago; 5 months net income $28,765,731 vs. $28,320,802 year ago. "United Gas Corp, 12 months ended May 31, net income $11,606,408, equal to 29 cents a common ‘share vs. $7,969,349 or $5.45 on second preferred for preceding 12 months; 3 months ended May 31, net income $3,225,308 or 11 cents a ‘common share vs. $2,614,306 or 3 cents a corhmon share .in'3 months in like period year ago. Wheeling & Lake Erie R. R. Co, May net operating income $419,437 vs. $150,505 in May year ago; 5 months net income $2,046,793 vs. . $861,794 year ago. DIVIDENDS Bartgis Brothers Co., 15 cents a _ common share and 37% cents a " chare on preferred stock payable { June 30 record June 19 vs. like amounts on March 31. Cluett Peabody & .Co., Inc. 25 . cents a common share following the

, three for one split-up payable Aug.

ssid on

meres

2 record July 21 vs. 75 cents May 1 ‘ prior to the split-up. Institutional Securities, Ltd., 3 cents a share on insurance group shares payable Aug. 2 record June 30; Newport Industries, Inc, 75 cents payable July 26 record July 8 in 5 per cent 10-year notes due July 26, 1947, cash will - be paid for all amounts less than $25 and for fractional parts of $25 vs. last previous 50 cents on April's. Southern California Edison Co. quarterly 37% cents a Share payable Aug. 15 record July an irc : Symington-Gould Corp., 25 cents a common share payable July. 30 record July 20. Lath elautogr

t1Gen T

Metals and |.

| Corn.

é 8 n.n

MARKETS AT A GLANCE

Stocks irregular in dull trading. Bonds irregularly lower; Governments irregular. Curb stockse irregularly higher and quiet. Chicago stocks irregular. Call money 1 per cent. Foreign exchange easy. Cotton futures maintain gains of 50 cents a bale. Grain futures higher under lead of corn. Rbber futures higher. Silver in New York at 443; cents a fint ounce, unchanged.

Chicago Stocks

By United Press

Low Last

67s

Cities Service Cord Corp Cunningham Drug Fuller Mfg Gen Financ Katz Drug Leath Co Mid West Corp ... Parker Pen Perfect Circle . Utah Radio Prod

Curb Stocks

High

MOLY EO re ee BTATRTNT Re

Ber Gay Fur . Brown Co pf . Can Marconi .. Carrier Corp Cities Sery Col O & G Con Cop MNS ....veueee 1 Cord. Corp ...... Creole Pet Cusi Mexic Dayton Rub .. Eagle Picher L B & Sh

Fish Rubber .. Ford Can A T&RN . Sd 5! Films

ree ie ia Ta 8... 11% Seiberling R 6 S O Ki

PARAMOUNT TO DR DROP STOCK INCREASE

By United Press NEW YORK, June 25.—Barney Balaban, Paramount Pictures, Inc., president, said at- the adjourned stockholders’ meeting that plans for increasing the capital stock will be abandoned temporarily. He contended, however, that the increase was in the interests of the corporation, and added that since purpose of the issuance was merely for future expansion and a program of debt reduction, it was deemed “wiser” to defer to the opinion of stockholders, who urged the plan be postponed until the specific needs arise.

terly 15 cents a common" ‘share payable Aug. 2 record July 15. Truax-Traer Coal Co. quarterly 20 cents a common share payable July 31 record July 15. America Corp., regular quarterly 50 cents payable July 31 record July 15. Dixie Vortex Co., regular quarterly 3772 cents a common share payable Oct. 1 record Sept. 10. Fisk Rubber Corp., regular quarterly $1.50 on preferred payable July 20 record July 10. General Mills, Inc., regular quar- | terly 75 cents a common share pay- . able Aug. 2 record July 10. Holophane Co., 20 cents payable June 28 record June 25 vs. 50 cents on both March 1 and June 1. Lee Rubber & Tire Co.. 75 cents payable Aug. 2 record July 15 vs. 25 cents on Feb. 1. Symington Co., 25 cents payable July 30 record July 20 vs. previous 10 «cents initial on March 31. Truax-Traer. Coal Co.. regular quarterly 20 cents a common share payable July 31 record July 15 vs. 25 cents on March 10. Warren Foundry & Pipe Corp., extra 50 cents and a quarterly 50 cents both payable August 2 record July 15 vs. 25 cents quarterly previously. American Home Products Corp. regular monthly 20 cents payable Aug. 2 record July 14. Brooklyn Union Gas Co., 40 cents payable Oct. 1 record Sept. 1 vs. like amount Seviared April 22 payable July 1. Gimbel Bros. Inc, regular quarterly $1.50 on 6 preferred payable July 26 record July 10. Lerner Stores Corp., regular quars foriy H 50 cents payable July 15 record

National Distillers Products Corp., regular quarterly 50 cents a common share payable Aug. 2 record July 15. Pierce Governor Co.. regular 15 cents a common share payable July 15 record July 3 vs. like amount on April 10. (Copyright, 1937, by United Press)

Yesterday

index:

Commodity— i: Wheat. No. 2 red (bu.) .eesse.. No. 2 vellow (bu.) .cccce. Rye. No. 2 (bu.) wevesteenvy Oats, No. 2 white (bu.) ........ Flour.” spe. pat.. (196-1b. sk.).. Lard, prime steam spt. (b.) ..- Coffee. Rio 7s spf. (1h) ...ccece Sugar. raw 96 test (1b.). 3 Batter. 92 score (Ib.y :.:.icovee sales (1b.) eee

Todav $1.27 % 1.207%

1 Chi

LATEST NEW YORK STOCKS

By United Press

Net High Low Change en . Adams Exp Air Reduc .. es

m & L Am F £136 of a

een SOY a sh Nedies . 65 Sugar .. Am T & T Am Tobacco Am Tob svar Am Zinc ...s..

H+ H+

Atlas Corp .... Avn Corp

Bald Loco as ...

DEEL

g Boe Air Rts Wi Borden Borg - Warner .

Bu g Buttle Cop ..-. Byron Jackson .

++] +1

5%, 26% Cl Call Zinc 3s Calumet & H . 137% Can Pacific . 13% BE IEE & Gen 7 Celanese 37% wens GOs Ofio 53% Chi Mail eh, 24%, Pn Tool cv i Chrysler 102 Cluett Peab Colgate-P-P

[44+ + E41 +:

ose ERR

Cons Edison ... Container .... Cont Bak B ... Cont Ins ... Cont Mot .. Corn Prod . Curtiss-Wr

Crane cv pf ... Diam M pf.... Dist Seag 21 Douglas Air ... Du Pont 153

Elec & Music I 4% —F—

Firestone T ... 3% 32V4 First N Strs.... Flintkote Co

Follsanbee

Gair Robert ... Gen Bak

Gen

ieee 40% Gt Nor Ore ...

Hecker Prod ... 12% Homestake New 481;

nt Central .... 2312 2315

ar pf Ing ya El A . Int Mining .... Int Nickel IntP&EPOC... Int T&T

Kennecott

w’s Lone Star Cem. . Long Evll A ... Ludlum Stl .. McIntyre P ....

Martin G L . Mar un id ©

Frye

No Pacific Norwalk T

V4 4d at

Ohio Oil Otis Elev Otis Steel

Pacific Lig a

LOCAL ISSUES

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

Bid Ong Ind Tel (TH) 4%ss 61. -100

Indpls Ld ‘Co 3%s 66...... Interstate Tel & Tel 5%2s 53 | 97 Kokomo Water Works 5s 58 Kuhner Packing Co 4'2s 49.... 97 0 wi

Noblesville H L & P 6%s in 11102 Ohio Tel Serv 6s 4 10 Richmond W

T H Water Works 6s 49.. Trac Term Co 5s 37

STOCKS

xBelt Rallrnad & St Yds cum, . xBelt Railroad & St Yds pnfd Cent Ind Power pf Ts xHook Drug hic xInd & Mich Elec Co pfd Ts.. 0

xInd Hydro Elec Co "7s oh xIndpls Pwr & Lt Co pfd’ 6s 7 xInd & Lt Co Sha 6Y28 91V Indpls Water %o pfd 5 103° Janeon Natl Lin Ins Co com. 3

. 78 NY p R Mallory Co com pw}. 17% | Progress Laundry Co 17 | Pub Serv Co of Ind 6s Pub Serv Co of Ind 7s .. Smith-Alsop pfa Smith-Alsop com Terre Haute Elec Co 6s. Union Title Co com. Van Camp Milk Co pfd.. . Van Camp Milk Co com... xEx-Dividend.

(By M. P. Crist & Co.) Market St. Investing Corp ... 32.86

U. S. STATEMENT

WASHINGTON, June 25.—-Government xpenses and receipts for the current fisyear through June’ 23, Pra with a year ago: This Tes. Expenses $7,967.861 “S67. Receipts .. 5,192, 36.572 Deficit -

Las 95 43 3 322 Sia 718. .58

Customs

“pacific Sills cor Packar

Following are the commodity prices used tn compiling the

Inac. Gold

Commodity—-

Wool, tine unw.

cree es 12004

Copper. electrolytio Lead: spot (Ib.) Zino. spot (Ib.) Week Ago $1.2234 1.13 TAY 49% 9.125 1135 09% 0345 30% 1125 0600

Year Ago

$ 98% .

Silver Comm! bars

Cement.

Douglas tie. rough

Lambs, avg. most sales (Ib) .. Hides, native hvy. steers (Ib.).. comb, Cotton. Midupland (Ib.) Silk, 13-153 deniers Jap (Ib)... Rubber, spt. smk. rib (1b.) «cee Ib.) sos Tin. Straits spot (1b.) (0Z.) cocess Steel. scrap Chicago Pig iron. Iron Age comp. Cake Connelsville (ton). dom. Portland (bbl.) Yellow pine. 6-in base (m. ft.)

Gasoline, tank wagon (gal) .. Crude Oil, ¢0 gravity (bbl) .. Source of Quotes—Chicago: ) and hides, Boston: Wool, East St. Louis: Zinc. Con-

DOW-JONES STOCK AVERAGES 30 INDUSTRIALS Yesterday ... ‘ Week a0 ..o.evcesveseas.. 168.79 Month ago ....iccceeneeve. 174.71 Year ago High, 1937, 194.40 low, 165.51. High, 1936, 184.90; low, 143.11. 20 RAILROADS Yesterday vee Week ago Month ago Year ago 47.88 High, 1937, 64.46; low. 52. 33, High, 1936, 59.89: low, 40.66, 20 UTILITIES

sesceseessnee

+1.07 +1.05 +0.52 —0.43

53.15 53.65 56.82

ssscescssssessece

ssscescssasessne

26.19 26.56

Yesterday Week ago .. Month - ago Year ago High, 1937, 37.54: low, 25.98. High, 1936, 36.08; low, 28.63.

70 STOCKS

seessscssessenss

Yesterday Week ago Month ago Year ago High, 1937, 69.67; low, 58.48. High, 1936, 66. 38; low, 51.20.

Net Last Change 2 1844 -_ Ch

Press Stl Car Proctor & G ... Public Serv

Sire

Reo Mot Republic Stl... Reyn Met

Seab Air L ....

Servel Inc .... . 29 Shen bn on Sim: 45

Studbaker Sun Oil Superior O .... Superior St Swift & Co Swift Intl Syming Gould . 13% wal 10% 12% ... 58% . 35% «14 T ..:1038 . 1 .. 58% Transamerica . 13 Tri-Cont 8

13%

10Y2

Un Aircraft Cp. ge TI ve 12 vee 30 . 17% 58 -1005% Va-Caro Ch ... 8

25Y, 46%, 12%

25Ya

12%

Walgreen 25, Walker (H) ... 46% Warner Bros .. 12%

INVESTING CO.’S

(By the New York Security Dealers Assn.)

Bid Asked Pd Asked adm Fd. 1%. 72 18.85/In Fd C. 15.07 15.9 ffil Fd. 9.65 10.56|Keystone 3: 46 oe H Cp 24.75 28. 50/Md Fund 9.05 Banc Bl. 8. a 9.12|Mass Inv 26.93 Bas Ind. 4.93 en ut Inv. 15.31 Brd St .. 33.38 35.70(Natl Inv. 7.04 Buil Fd. 20.37 22. 2.3 Wiwd S Sec ia 27 08/N End Fd 13.10 10. ~ 'N Y Bld

16.00 2.74

Eq Tr. Fidelity.. 26. .30

5 Sup C A 3.94 5 B » 4.07 Sup. AA: 2.63 BB. .

3 S42 New. 13.59

Group Securities B 7 102 5)

dg... 1.9 213|T T $ Minne. 14 .8 Pet. 144 1.5 BR Ea 1.43 1.5 .:1.96 2.1 Inc oe 401 ....

FOREIGN EXCHANGE

NEW YORK, June 25.—Opening foreign nS irregularly lower.

Cable Rates Fneland (pound) .. 4.93% (60-d. bil ate) 138 os IR (dol France ral Italy (lire) Belgium (belga) Germany (mark) Switzerland A Erane) Holland (guilder) .. Spain (peseta) Sweden (krona) Norway (krone) ... Denmark (krone) .. Japan (yen)

PRODUCTION GAINS IN DURABLE GOODS

By United Press NEW YORK, June 25.—Activity in the production and distribution of durable goods last week rose frac-

tionally over the preceding week, according to the Iron Age seasonally adjusted index. The index rose to 88.6 per cent from 87.9 per cent a week earlier, 77.7 per cent in the corresponding 1936 week, and 55.6 per cent in the 1938 period. It was the first week since May 1 that an advance had been recorded in the index, which is based on 1925-27 as 100 per cent. .Gains in carloadings of forest products and an increase in heavy construction dollar volume of 87 per cent over the preceding week, more than offset a decline in automobile and steel production.

42 2.52 Wel Fd.. 18.00 19.75.

Net Change —.00 7-16

—.0003 —.0001

For Final Stock Quotations See Later Editions of

The Indianapolis Times -

PRICE INDEX AND COMMODITY QUOTATIONS

DAILY PRICE INDEX NEW YORK, June 25.—~Dun & Bradstreet’s daily weighted price index of 30 basic commodities, compiled for the United Press (1930-1932 average: 100): essences. 143.63) Year ago ... Week ago .........141.43/1937 High (April 5). 158.26 Month ago ........146.95/1937 Low (June 21). 141.12

Year Ago $ .1115 Co WJ1134 351% 1243

Week Ago $.1150 1576 4018 © 1256 88 : .1960 14 060213 06624

Today $ .1200 15% 41 1261 1.90% 1953 a4 060214 .0662%% 56% 5514 413% 4434 (ton) ... $ 15.75 (ton) - 23.25 + Sisieite - 4.60 2.25 60.00 52.50

ab.) ..

50.00 38.00 127 + 12 1.18

Grains, livestock, lard, steel

(tm. ft.)

Lag 0 Warren F 1%, x 1%

Hi F & P. 413% .. 441 I 1% 5.41 46% 46 i iva + —¥ 24% 243%

COMPANY BUYS LAFAYETTE SITE

Aluminum Co. of America Will Manufacture Tubing.

Worthington

Yellow Tr + %

By United Press NEW YORK, June 25.—Aluminum Co. of America will construct a plant for manufacture of aluminum tubing and extruded shapes near Lafayette, Ind., as part of its $26,- + | 000,000 expansion program for 1937, it was learned today. The company already has purchased a large tract of land near Lafayette and it is hoped that the plant will be in production before end of this year. The new plant is

expected to employ several hundred persons.

FLOOD CONTROL HELD ‘PEG’ FOR POWER BILL

Mississippi Valley = Group Voices. Opposition.

By United Press WASHINGTON, June 25.—Cleveland A. Newton, St. Louis, general counsel for the Mississippi Valley Associations, today opposed the Administation’s “seven-autHority” flood control and power bill and charged before a Senate agriculture subcommitte that flood control and navigation are being used as a “constitutional peg” on which to hang the legislation. Reciting a statement made by Senator Norris (I. Neb.), bill author, Newton declared “it is conceded by the author of the bill that the object is not navigation or flood control but that the great public work has been brought into the bill as a constitutional on which to hang legislation which might other-. wise he of doubtful constitutional validity.” The purpose of the measure, he charged, is the “power business.” “We ardently hope that Congress will not jeopardize navigation to flood control for the purpose of giving constitutional authority to public works of an entirely different character,” Newton said. The witness opposed removing navigation and flood control jurisdiction from the control of Army engineers.

CANADIAN BUSINESS LOOKS FAVORABLE

By United Press NEW YORK, June 25.—The business situation in Canada is favorable and the outlook encouraging providing peace is maintained in industry, according to the monthly business summary of the Bank of Montreal today. * The increase-in business has been reflected in railway carloadings, railway earnings, and federal revenues. E | Employment figures now appear to be paralleling more closely the gains in industrial activity. Industries listed as showing continued improvement are mining,

and flour milling.

FEDERAL RESERVE REPORTS ON GOLD

By United Press NEW YORK, June 25.—Gold receipts at the Port of New York for the week ended June 23 amounted to $38,191,000, the Federal Reserve Bank reported today. The receipts comprised $27,956,000 from England; $5,058,000 from Canada; $2,309,000 from Switzerland; $2,254,000 from France; and $614,000 from Indiana. There were no ex-

ports and there was no net change

in earmarked metal. Today’s foreign engagements included $5,288,000 in England and $175,000 in India.

CANADA FINDS iTS INVESTORS ACTIVE

By United Press OTTAWA, Ontario, June 25.— There is no scarcity of investment money in Canada. The Canadian Government recently decided to convert the country’s last income

.| tax-free Victory bond issue, totaling

$236,000,000, into short-term bonds. Within one week nearly half of the loan was subscribed.

BROKERS’ OPINION By United Press NEW. YORK, June 25.—Brokerage opinion today: E. A. PIERCE & CO.—In view of the importance of the labor situation, it is probable that news development of that character will continue to influence market. movements. REDMOND & CO.—There is no change in our opinion that the market is irregularly headed toward higher levels. FRAZIER JELKE & CO.—From the standpoint of the intermediate term trader, we think perhaps the most important thing to watch at this time is the trend in public sentiment toward the labor situation. SHIELDS & CO.—For the time being, incentive is so lacking that only a light trading policy of buying on dips can be followed. THOMSON & MKINNON-The

firmer undertone in evidence again |B

seems quite encouraging to the belief that the adversities in the news ted fair by

forestry, newsprint, lumber, iron and steel,

FEW HOGS SELL 5 GENTS HIGHER: LAMBS ALSO UP

Extreme Top Equals Year’s $12.10 Record; Vealer Prices Strong.

The hog trade was generally steady here today, according to the Bureau of Agricultural Economics,

United States Department of Agriculture. A few sales at the outset on weights above 160 lbs. were 5 cents higher. There developed a period of dullness after which most hogs finally sold steady. An extreme top of $12.10 was paid, equaling this year’s high. Sows at $9.85 to $10.50, with a $10.75 top, were steady. Receipts were estimated at 5500 head. -

The display of cattle here today was mostly of unattractive to killers. Quality was generally medium and below. A few steers brought -$10.75, while heifers sold largely at $9 down. Cutter and low cutter cows had a spread of $3.75 to $5.50. Cattle receipts were estimated at only 500 head. A very active and strong to 50 cents higher vealer trade followed on the heels of meager dressed stocks where prices rose again today. Good to choice vealers cleared from $10.50 to $11, mostly $10.50 down, mediums going from $8.50 to $9.50. Lamb prices added 25 cents to their comparatively low levels in competitive trade. Good to choice springers sold at $11 to $11.50, medium kinds at $9.50 to $10.50.

. HOGS . Ju Receipts yore 5000 19.

ft dk pt pt pt ft pd i

Light Lights— (140- 160) Good and Je dium

Lishtweights=>

hi [email protected] [email protected]

choice. $18. fool 95 [email protected] i: 7512. 00 . [email protected]

[email protected] [email protected]

[email protected] 11.30411.85

[email protected] [email protected] [email protected] [email protected]

9.85@10. 85 [email protected]

choice.

) oo 2nd e (180-2001 Good: Tad Medium

choice. . (220-250) Good and choice.. Heavyweights— (25 590) Good and

(290-390) Sond and Pasling So 50) Sood

(425-450) Good (275-, nl Medium

Slaughter oa (100-140) 00d and choice. .

choice. . choice. .

—Receipts, 700— (550-900) G

M (900-1100) G

DRIER!

Ci (1100-1300) G

RS)

é Son @auusuis oii Sn. CoO cuUIO S 09899 6888 a3 JUNI NT oUt

M (1350-1500) je

(500-750) 59

Soo:

(750-900)

“

Good” ond choice. Common, medium.

Good and Medium Low cutter and cutter Bulls, good Cutter, com. Vealers —Receipts, 500—

Good and choice Medium Cull md common a

833 888

Stes 50-500) Good and choice..$ 8.50 Common, medium. 8.00 Feeder and Stocker Cattle (500-800) Sood and choice. mon, medium. 6. (800-1050) Good and choice.. 17. Common, medium: 6. Heifers—

Good and choice Common and medium

SHEEP AND LAMBS —Receipts, 500—

0 EE 689

Ses G06

Spring 1 Lam) Good

SOooS (SERS) hh pa $300. Ors iapa

Common . Shorn E (90- 115) “Good and choice.. Common, medium.

pW ROO gg gwuy o

By United Press AGO, June 25. “directs; market dire market

@ i than hursday’s average; close with advance Ra on butchers from 240 lbs up and pacaing SOWS; lighter weights in good Hompnd. So} early; bulk good and choice 200-240 1) $11.75@ 12; top, $12.10: 240-300 ibs., $1T 0% 11.90: comparable 150-190 lbs.. Lu [email protected]; most nd packing sows, 350-500 1bs., $9. 90@

Zi tie—Receipis, 2000; calves 500. Steady trade on few small lots fed steers and yearlings at [email protected]; common an medium grassers of value to sell down from $10.50 without reliable outlets; native and Southwestern grass cows and heifers predominating in run; demand narrow and market unevenly weak to 25c¢ lower with prospects in Sompiese clearance; most cutter cows, $3.50 down: beef grades usually $€@7.25; sausage bulls and vealers steady. practical top sausage bulls, $7.15; outstanding individuals, $7.25; good and choice light and handyweight veal-

ers, $9 Sheep—Receipts, 6000, including 4500 directs. Active; springers strong to 25c higher yearling lambs steady to strong: native springers to jsrger Tieresis, $11.75 @12.25; top, .50 mall killers: clipped lambs, $8.50@9; bulk. $8.75; dauble 8l1-pound fed clipped Colifornias, $10.25 straight. She steady: ewes, $2. 504.50. June 25. Hogs. ts

een,

1.70: $11.65: $11.60; : 8 .. $10.90: $10.40; 1 lbs., $10.15; $9.90. Roughs. $9.75; stags. $10; lambs, $10.75. LAFAYE

120 1bs. $6 50; calves,

E, June 25.—Hogs—Market, 15 to 25 certs higher; 210-235 lbs., $11.80 a1. 90; 235-275 1bs.. [email protected]; 21s 325 .. $11.35@1 80-210 lbs. 1.75@ , [email protected]: 155" 160 $10. .. [email protected]; 100-130 Ibs.. $0, 50@10; roughs, $10.25 Bown. Calves, $9. 50 down. Lambs, $10.50 down.

BANK OF ENGLAND PURCHASES GOLD

By United Press LONDON, June 25.—The Bank of England today announced the purchase of $24,942,499 in gold bars. It was assumed in informed quarters that the metal was bought from the exchange stabilization fund as in several previous instances earlier this year. The purchases, it was understood, were designed to relieve the stabilization fund of excess gold stocks and at the same time to furnish it with much needed sterling exchange. Gold stocks of the Bank of England are expected to be reported at the highest level in history this week as result of the increment.

ee ova———————————————————— . 'E LOCAL PRODUCE (The prices quoted are paid tor stock aasheced in the country while for deliveries in Jndianabolis the prices are 1 cent higher. Each full case of eggs must weign 55 pounds gross.) s—No 1 “Heavy breed hens, B lbs. and over, 13c! Legh br Leghorn

Old ro sred 20d fat, 5 Ips.

strictly fresh. joss off. 15¢

oilers, |

uoks.” aie | thered anit 0a ue: |

New York Bonds

By United Press BOND PRICE INDEXES 20 20 20 Indus. Rails Util. 91.2 92.3 99.9 90.9 93.2 100.9 ° 91.6 948 101.8 90.8 92.5 105.5 87.6 81.1 99.2 95.0 101.2 106.0 90.8 92.5 100.3 948 100.4 106.2 90.0 84.7 103.3 1935 high ..... 914 86.4 103.6 93.1 1935 low ...... 83.6 71.0 89.3 83.0 (Copyright, 1937, Standard Statistics Co.)

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

seen

U. S. GOVERNMENT BONDS Treasury Bonds

Last 105. 213

High Low 105.12 105.12 .104.16 104. 1s 108 18 «91.19 97.) 97. 1100.12 100. 12 100. 12 and Bank Bonds : Bid Ask Yield 007% 2.87

33ss

Nov. Home Owners Loan Bonds 1949-39 1944-42 99.29 99.28 1952-44 101.29 101.27 DOMESTIC BONDS ATT deb 5's 43 Arm Co Del 4s 57 at TSF gen 4s 95 u R & P con 4l2s 51 Be Pacdeb 4s perp . Ches & Oh 3!2s 96 SE MSIPS Ps. hi NW 49

BT oun 1 "Tel 3128 10.... Int T&T 5s 55 Int T&T cv 4's 39 Krege Fou 4s 45 Loews Inc 3's 46 Long Isl Te! 4s 49 Mo K&

Mo Pacific 5

So Pacific 4's 81 Sou Ry gen 4s 56 ...., Un Pac 1st 4s 47 .... Yheel Stl 42s 66 y Young S' & T 4s 61 ....100'2

FOREIGN BONDS

9975 100%

Brazil 62s 26- 0 ceisianiv 3

NEW BOND ISSUES By W. L. Lyons & Co.) hia Assd Tel 4s 66

, cereenes.104Ya Atl City 3Vs 64.. 97% B&O 412s 39

Celotex 4'>s 47 Cent Maine Pwr 4s

Cinti G&E 3'2 Renn Cinti G&E 312s 67.... CMO 23%s 42 .... Fla Power 4s 66

Kansas PLS Koppers Co 4 Los Angeles Loisville G&E 3%2s Metro 4s Narra Elec 3's 66.. NYCity 3las 77 ‘ NYState Brie Gas 45 65... . vue ii, Northern grate P 312s 67...1.. Okla G&E 4s Ohio G&E ine 3%s 56. Pas Lighting 4's 45 Safeway Stores pH 19. Sou Kraft 4%s 56 Sou Bell Tel 3'zs 62... Wisc G&E 3's 66 Wisc Pub. Sve 4s 61.

BN red (By Blyth & Co., Inc.) —June 25—

xBankers Trust xCentral Hanover ... Chase National

xXGuaranty Trust xIrving Trust . {anuiaciirers Trust .. National . Cont. Ill. Quy Bk., Chicago. xFirst National Bk. Boston.. xNational Shawmut Boston ... National City Bk., Cleveland. ..

FIRE INSURANCE

xAetna Fire City of New York Federal Franklin Great American XHanove Hartford .

severe

Westchester CASUALTY COMPANIES

-Continental Casualty ass. Bonding & Insurance... xEx-Dividend.

INSURED BANKS DOUBLE PROFITS

By United Press WASHINGTON, June 25. — Insured banks more than doubled their net profits in 1936, the Federal Deposit Insurance Corp. reported today. Net profits of the 13,956 insured banks aggregated $523,000,000 compared with $207,000,000 in 1935, the report said. The banks were able to retain $300,000,000 of net profits after paying cash dividends and interest on capital notes and debentures; in 1935 these payments “washed out” all of the net profits. The increase in net profits was due to smaller loss and depreciation charges on. assets and substantially larger profits on securities sold and recoveries from assets previously charged off, the FDIC said.

HIGHER PRICES SEEN FOR MEAT LATER ON

NEW YORK, June 25.—The larger crops in prospect this summer point to higher, rather than lower, prices for meats, according to the Standard Statistics Co. today. Because -of the scarcity of feeds during the past year farmers have been liquidating their livestock holdings, with the result that prices for meats have been under pressure. . Whereas average grain quotations are 60 per cent above last year’s levels and nliscellaneous farm products are up 20 per cent, prices for livestock and poultry are higher hy only 6 per cent. Actual meat prices are only 4 per cent above 1936 levels.

FOOD PRICES

CHICAGO, June 25. — Apples—Willow Twigs, $1.75@2. Sweet Potatoes—Tennessee Nancy Hells [email protected]. Carrots—California, crates, $3.50@4. Spinach—Illinois, bu., oe 25¢. Tomatoes exas, lugs, $1.50@ Cauliflower—California, grates. $1.75. Peas —~California, hampers, [email protected]. Celery— Michigan, flat crates, 75c@$1. Onions (50Ib. sacks)—Texas Yellows, 90c.

a 59%

WHEAT FUTURES REACT AND RISE AFTER BREAKING

Winnipeg Drop Halts Rally; Near-Month Corn Advances.

By United Press

CHICAGO June 25. — Wheat prices climbed on reaction from the ‘break at the start of trading on the Chicago Board of Trade, At the end of the first hour wheat was % to 1 cent higher, corn was off 3% to up 1% cents and oats were ¥% to 15 cont higher. - The climb from the opening low levels was halted by hedging sales coupled with a downturn at Winnipeg. - A local operator was a heavy buyer of September grain early in the session.. Further reports of rust have been heard from the spring wheat belt but harvesting in the southwest has been moving swiftly without hindrance the last few days. Wheat receipts were 10 cars. December corn continued to lag behind the market but July and September were more than a cent ‘above the previous close, July at a new high since June 5. Stop-loss buying wes a feature in the corn pit. Corn receipts were 37 cars.

WAGON WHEAT City grain elevators are payin 1. No. 1 red wheat, other dacs on’ net merits. Cash corn new No. 2 y $1.14, Oats, 33c. Hay—No. 1 timothy, Wal 50,

ARGENTINE GRAIN

BUENOS AIRES, June 25.—Grain fue tures opened irregular. Wheat — July, $1.14%, unchanged; August, $1.1253, off Vac, Cn Jay, 51%z¢, off 3c; ust, 52140, off 34c. Oats—June, 29%c. up lsc. i 31 .28%, unchanged; August, $1, 2870, 8l.

WINNIPEG WHEAT

open Chan eo srenssavsnssesaer. 31.27 +7 fives oe 1.200 1

LIVERPOOL WHEAT

July December

Prov. close July ..... $1308 5 Ley, 292 $1 29% oat. . 1.26% ’ 28Y2 Dge.. .... wg 39% 1.26% 1.29% i 28%

CHICAGO PRODUCE

Har a Ph 15.000 cre em hey a ; receipts cases. tes ra firsts, 19%c: extra firsts, 20 rae ceipts, 19c; dirties, 18c; checks, 17c: store age packed firsts, 21c; storage packed eXe= I oar Markel. stead utter—Market, steady: receipts, 18.620 tubs. Extra firsts (90-91% hve). 29@ 29Y>c; extras (92 score), “30c; firsts, 27@ 28%c; seconds, 23@25c; standard, 29c: spe= cials, 30'2@31c; cent. 89 score), 28Y4c: cent. (88 score), 2T7c. Poultry—Market easy; receipts, Z trucks, one car. Ducks, 9@12%c; geese, 13@17Y.¢; hens, 13%@17%c broilers, 16@19c: horn’ hens. 10@i2%¢c; turkeys. old roosters, 12@13c: fryers i DE Tnacas), 17@21c; spring chickens, 1

Cheese—Twins, 153;@ Ages 16% @16%2c; longhorns, 16% @16 Potatoes— Supplies Ee demand all; market. weak. California White Ebae, 501.75; . 8S. No. 2, [email protected]; [email protected]; OU. Ss. 2, 90c; Arkansas Bliss Triumphs. $1.50; ADRs "Cobblers, $1.40; Oklahoma Bliss Triumphs, Shin Mississippi umphs, $1.4 8. No. 2. Barrel ie al A es $2.50. 107; shipments, 1263; on track,

TEXAS INCREASES OIL PRODUCTION

By United Fress AUSTIN, Tex. June 25.—Alloweable oil production in Texas for July was set at 1,385,475 barrels daily, in an order issued today by the Texas Railroad Commission. The figures compare with. an ale lowable production of 1,350,262 bare rels set on June 1, which was ine creased to 1,497,582 barrels on June 17 by supplemental orders and new wells. The Federal Bureau of Mines had estimated the market demand for Texas oil in July at 1,375, 100 barrels daily. East Texas was continued on a production. factor of 2.32 per cent of hourly potential, which it was estimated would produce approximately 465,000 barrels daily, com= pared with 462,000 on June 1 and 465,033 on June 17. )

MARKET PETITIONS FCR CLOSE JULY 3

paises,

Arrival 279.

: By United Press

NEW YORK, June 25 .—The petition circulating on the floor of the New York stock exchange fo close the exchange Saturday July 3 now has 504 signatures, it was learned today. The speed with which the signafures were gathered indicated that the exchange officials might take favorable action on the petition, which first went into circulation josterday |

BUSINESS ACTIVITY INCREASES IN WEEK

NEW YORK, June 24.—Business activity in the week ended June 23, as measured by the Dun & Bradstreet, Inc. business barometer, advanced slightly over last week’s low of 92.2 per cent to 92.9 per cent of estimated normal. The index stood at 85.5 per cent a year ago.

PLANS TO REORGANIZE NEW YORK, June 25.—The pro= tective committee for the 8 per cent cumiilative preferred stock of Schulte Retail Stores Corp. advised stockholders: today: that the prine ciples and outline of a plan of reore ganization for the cigar store chain is now under negotiation with rep-

'resentatives of creditors and secure (ity holders.

TYPEWRITTEN LETTERS AUTOMATICALLY TYPED ADDRESSING & MAILING MULT/GRAPHING STENCILS CUT MIMEOGRAPHING RULED FORMS UP TO 14° X 20°° TWO NOTARIES

L-6122

MIS LETTER SERVIC

313 Merchénts Bank Bldg.

City Securities Corporation

Investment Securities

417 CIRCLE TOWER LINCOLN 5535

C; current re=-