Indianapolis Times, Indianapolis, Marion County, 30 June 1937 — Page 16

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THE INDIANAPOLIS TIMES

WEDNESDAY, JUNE 30, 1937

i COMPLETE N. Y. EXCHANGE

STOCKS w

3 The Times Financial and Market Page

COMPLETE LOCAL

w LIVESTOGK

MARKET RECOVERS

WITH U MOTORS

Chrysler Comes Back

After Reaching 1937 Low.

By United Press NEW YORK, June 30. — U. S. Steel common stock led the stock market higher today, reaching 98145 for 134 gain and bringing strength into most steel shares.

Motors also strengthened with General Motors fairly active as it reached 49% for 3 gain. Chrysler went to a new low for the year at 94 and then came back 2 points for almost a point gain. Others showing strength included Westinghouse, up 41; at 142, du Pont, up more than a point, and U. S. Rubber, up more .than a point. All metal shares strengthened, ‘. American Snrelting gaining 2 points .to 84 while Phelps Dodge and Anaconda each gained more than a point. American Telephone gained more than a point to lead communications. Most rail issues showed fractional strength. Utilities were fairly steady. Selected oil and industrial shares Jed curb stocks irregularly higher after a mixed opening today. Trad.ing was quiet. Strength in rails and oils featured a. moderate advance in domestic bonds today. U. S: Government liens rose 1-32 to 9-32 point in light trade.

FIRST HOUR

The market opened irregularly higher and then strengthened, but trading was extremely light. U.S. Steel led the industrial group with 114 gain at 98 and Bethlehem had almost a point gain. Chrysler came back to a fractional gain after reaching a new low for the year, American Can, du Pont and J. I. Case gained 2 ‘points each. Communications were in demand as American Telephone gained more than a point. American Smelting and Anaconda led metals with more than a point gain each while Southern Pacific, Atchison and New York Central each gained more than a point. Volume approximated 170,000 shares compared with 170,000 in the first hour yesterday. Dow-Jones average: Industrial 168.60, up 0.95; rail 50.94, up 0.39; utility 25.80, up 0.24. SECOND HOUR

The market continued to advance but there was no increase in volume. U. S. Steel reached 99% for 22 gain and Bethlehem was 2% higher at 84. Chrysler rallied to 97 for 29% gain and General Motors had almost a point advance at 49, American Telephone went to 164 for 3% gain and other communications firmed. Atchison led rails, reaching 773% for 23 gain. Consolidated Edison was a point higher. Metals continued strong. Volume approximated 140,000 shares compared with 97,000 in the second hoiir yesterday. Dow-Jones averages: Industrial 169.21, up 2.10; railroad 51.23, up 0.68; utility ‘26.01, up 0s.

Today: S Busines At a Glance

GENERAL BUSINESS

Chesapeake & Ohio Railway Co. week ended June 26, own lines loadings, 32,145 vs. 21,971 in previous week, and 25,513 in like week year ago. New York, Chicago & St. Louis Railroad Co., week ended June 26, own lines, carloadings, 5361 vs. 5240 in previous week and 5093 in like week year ago. Pere Marquette Railway Co., week ended June 26, carloadings, own lines, 6083 vs. 6331 in previous week and 6033 in like period last year. Naticnal Tea Co., four weeks ended June 19 sales totaled $4,931,217 vs. $4,628,100 in 1936, an increase of 612 per cent; 24 weeks ended June 19, total sales $29,774,007 vs. $28,130,567 last year, an increase’of 5.8 per cent. Southern Pacific Co., week ended June 26, own lines. loadings, 32,512 vs. 31,812 in previous week, and 28,920 in like week year ago. American Petroleum Institute reports a drop of 1,147,000 barrels in gasoline stocks week ended June 26 to total of 75,427,000; crude oil production was up 18,650 barrels daily over preceding week to 3,529,600 barrels, while refinery operations were off 23 points to 82 per cent. Edison Electric Institute reports week ended June 26 electric output totaled 2,238,332,000 kwh vs. 2,213,783 kwh in previous week and 2,005,-

" 243,000 kwh in like week year ago. Gulf Mobile & Northern R. R. Co,,

carloadings week ended June 26 to-

taled 3698 vs. 4113 in previous week

and 3344 in like week year ago. Iron Age places average steel op-

erations for this week at 7612 per

cent, up 1% points from last week.

Missouri Pacific R. R. Co., week

. STEEL;

2 2

MARKETS AT A GLANCE

Stocks high and dull. Bonds higher; U. S. Government issues higher. Curb stocks irregularly higher. Chicago stocks irregular higher. Call money 1 per cent. Foreign exchange irregular. Cotton futures irregular. Grain futures irregularly lower at Chicago; wheat off 4 to up 15 cent bushel. Rubber futures easy. Silver in London 20 1-16 pence, up 1-16 penny.

Cur bS tocks

Aero Sup B Ala Pow 6 pf ...... “ees Am Slaines “yd Am yan Am Am Su Ark . Carrier Corp aie Centrif Pipe Cities: Serv .. se Cities Serv pf ...... Col O & G Con Cop Mns “ee Ford Can A ... Fore M Ltd

n T & R Grd Nat Films Gulf Oil vr Iron Fireman: “en

C Thing Stocks

By United Press

Low Adam: Royalty Armour & Co Bastian-Bless Butler Bros ... Consol Bis Cord Corp .. Katz Drug .. Kerlyn Oil .. Lion Oil Ref .. Mid West Corp . Quaker Oats Stan Dredging 2 8 Stan Dred pf 3 1

ended June 26 carloadings totaled 23,663 vs. 22,075 in previous week and 24,482 in like week year ago.

St. Louis-San Francisco Rwy Co.

taled 15,891 vs.

week and 13,951 in like week year ! Monsanto

ago.

33 Cont Oil Del ...

Am P & L

STRONGER |

4 +2 | East R Mill .... BR

> | Miami_ C week ended June 26 carloadings to- | am Sk.

14,662 in previous | Mission Corp, .

Studebaker Corp. first 20 days

June 5789 passenger cars and trucks vs. 5052 in like period of June 1936, an increase of 14 per cent; year to date shles totaled 52,279 units vs. 45,063 in like 1936 period, an increase of 16 per cent. CORPORATION NEWS

Missouri-Kansas-Texas Railroad Co.; week ended June 26, own lines

loadings 5583 vs. 5308 in previous week and 4649 in like week year!

ago. "Mueller Brass Co. six months ended May 31 net income $582,823 after charges and Federal taxes equal to $2.20 a common share vs. $368,393 or $1.71 in like 1936 period; 12 months ended May 31 net income $1,035,430, equal to $3.90 a share vs. $548,344 or $2.54 for 12 months ended May 31 year ago. Pacific Telephone Co., 5 months ended May 31 net income $8,532,875 or $3.59 a common share vs. $7,595,~ 147 or $3.07 a common share in: first five months year ago.

Southern New England Telephone.

Co., May operating income $368,905 vs. $335,512 ‘year ago; five months net operating income $1,765,007 vs. $1,432,999 year ago. Third Avenue Rwy Co. May surplus after charges $23,516 vs. surplus $32,718 in May year ago; 11 months deficit after charges $103,844. vs. deficit $135,153 in like period of 1936.

DIVIDENDS

American Can Co., regular quarterly $1 a common share payable Aug. 16, record July 26. Atchison, Topeka & Santa Fe Railway Co., $2 a common share payable Sept. 1, record July 30, vs. like amounts in 1936, 1935 and 1934. Horn & Hardart, regular quarterly 50 cents a common share payable Aug. 2, record July 12. Pan American Airways Corp., reg‘ular 25 cents payable ‘Aug. 2, record July 20 vs. like amount on May 1. Twin Coach Co., regular 15 cents

a common share payable July 15, | mnt. (60-d. bill rate)

. Canada (dollar) . France

record July 10 vs. like amount on May 10.

at Dai He ‘Nat Distillers’

United Gas Improvement Co., reg- |

ular quarterly 25 cents payable Sept. 30, record Aug. 31. Wilson & Co., regular quarterly 1212 cents a common share payable Sept. 1, record Aug. 14. Allied Chemical & Dye Corp., tegular quarterly $1.50 a common share payable Aug. 2, record July 9. Consolidated Cigar Corp., regular quarterly $1.62%; on prior preferred payable Aug. 2, record July 15 and $1.75 on 7 per cent preferred payable Sept. 1, record Aug. 16.

Driver Harris Co., regular quar- |

terly 37!2 cents a common -share payable July 20, record July 10. Holland Furnace Co. $1 a common share for first six months payable Aug. 2, record July 16, vs. like amount on Nov, 27, 1936, and 25 cents on Dec. 21. Income Shares, Inc., regular quarterly 30 cents payable Aug. 1, record July 15. Eureka Pipe Line Co. regular quarterly $1 payable Aug. 2 record July 15.

| Switzerland

LATEST NEW YORK S71 OCKS

Net t Hi Low Close Change Allegh Corp ... V. Yo ina Allis-Chal .... Am Enc Til ... Am-Haw SS ... 15 Am H&L ....

% 3a * 2 pa 2% i

8 8 ; Rad 4 7 Y 4 Ys

ve Ya

+1:

Bald Loco Bald Loco as .. Balt & Ohio ... Bayuk Cig .. Bendix Avn Beth Steel i 3oeing Air .... Borden Ydgept Brass .. 3riggs Mfg .... 3

Va Vg

Sih

H+:

3udd Wheel I. Burroughs Butler Bros Butte Cop

Calumet & H .. Can Pacific Celanese

Chistbap: io : Chrysler ... .... 95 Cluett Peab ... Colgate-P-P ... Col & Aik ..

AREA ITER Erle Se

Con Rr Cu pf.. Cons Coal vtc . a Container . 28% Cont Mot . 2% 425,

Davega ‘cum pf 1834

Elec P & LL Ex Buffet

Firestone. T ....

Gair Robert ... Gen Cigar Gen Elec Gen Foods Gen G & E A. Gen Motors .... Goodyear

Gt Nor Ore .... 18 Hecker Prod Homestake New 50s Hud & M pf . 7 Hudson Mot ... Hupp Mot

Insp Cop Inter RT Inter Iron .... Int Harv Int Hyd El A Int Nickel

16V4 55% 20%2

Kan C Sou .... 16% Kennecott .. . 5533 Kroger G & B 203: . —L— .. 96 96 . 4 74 —_M— 13% 133% .. 413 415 . 2212 22), 5412 5412 26% 26% 58% 58% veri NA 17 1215 12Va 24Ys 24s 21%, 31% 54%

19%

| McKess & R ... Manati Sug . Marshal) Fld

ay { Mead Corp .... | Mesta Mach ...

Mo-K Tex pf...

| Mont Ward Motor Whi

HEE HH]

Nash Kelv .... Nat C Reg A .

2 28 2

34 3 39%

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

Citz Ind Tel (TH) 4%s 61. H Tel & Tel Ft W 5129 55.. H Tel & Tel Ft W 6s 43 Ind Assoc Tel 4l2s 65 Indiana Tel Co 5s 60 Indpls Railway Ins 5s 67 Indpls Water co 3%s 66 .... 98 Interstate Tel & Tel 52s 33 + Kokomo Water Works 5s 58.. Kuhner Sohipe Co 4%s 49 ... 97 Morris 5 & 10 Stores 5s 50...100 Muncie Water Works 5s 8 ve Noblesville H L & P 10! Ohio Tel Serv 6s 47 Richmond W W 5s 57 Seymour Water Co 5s 49 T H Trac & L 5s 44 T H Water Works 55 56 T H Water Works 6s 49 Trac Term Co 5s 57

STOCKS

xBelt Railroad & St Yds cum. xBelt Railroad & St Yds pid.. Cent Ind Power bi Ts 6 xHook Drug 1n 17%, & Mich Ble Co pfd 7s. . 191 Ind Gas Co

xInd Hydro Elec To 7 66 xIndpls Pwr & Lt Co pfd “6s 89% xIndpls Pwr & Lt Co pfd 6Yas 911% xIndpls Water Co pfd 5s .. 40 03 Lincoln Natl Lin Ins Co com. Ind Pub Serv pf Ts yd N Ind Pub Serv Co De gs ... N Ind Pub Serv pfd 5% Si P R Mallory Co com awh: Progress Laundrv Co 17 Pub Serv Co of Ind 6s ... . Pub Serv Co of Ind 7s: vig Smith-Alsop pfd reas Smith-Alsop com Terre Haute Elec Co 6s Union Title Co com . Van Camp Milk Co pfd ... Van Camp Milk Co com XEx-Dividend.

{r+

57 57

(By MP. Crist & Co.) Market St. 5 Corp...

FOREIGN EXCHANGE

W YORK, June 30.—Opening foreign exchange irregular, Net

Change00% +. 9 %

P. 73. 01

Cable Rates 93Y;

England (pound)

(franc) Italy (lire) Belgium Germany

--.0000%4

Holland (guilder) . Spain (peseta) Sweden (krona) Norway (krone) : Denmark (krone) Japan (yen)

MONEY MARKET

NEW YORK, June 30.—Money rate - mained unchanged today Money. feiss re Banker's Acceptances — 1-16%: 60 and 90 days. 2 ans 3 dass: '9-16@ 12%" 150 and 0. dave, 9-16%. Sommereial Pa Time Money—6 150 and 180 days. at New York. 1,9,

am ols

I PLms names, 1%. nd 90 days, 1%:%: 120, 1a. Rediscount’ rate

For Final Stock Quotations See Later Editions of

The Indianapolis Times

“PRICE INDEX AND COMMODITY QUOTATIONS

DAILY PRICE INDEX NEW YORK, June 39.—Dun & Bradstreet’s daily weighted price index of 30 basic commodities, compiled for the United Press (1930-32 average equals 100): Yesterday ......... 146.38 | Year ago Week ago ......... 142.80 | 1937 High (April 5). Month ago ........ 144.80 | 1937 Low (June 21). 141.12

Folldwing are the commodity prices ased tn compiling the dex: x :

Today $ 1.3434

Commodity— Wheat, No. 2 red (bu.) ....cs.. Corn. Ne. 2 vellow (bu.) .. : Rye. Ne. 2 (bu.) Oats.- Ne. 2 white (hu.) .. .. Flour spe. "est. (196-1b. sk.).. Lard. orime steam spt. (Ib) .. Cotfee Bis 7s spt. (Ib.) Sugar. raw 98 test (Ib.) Butter 92 score (lb.) wo: Hogs, avg. most sales (Ib,) ... Steers, avz. most sales a) . oe

vee

sesssns

Commodity—

Hides.

Wool fine unw

Silk, 158.26

tb.) b.)

Lead spot Zine. spot

Week Ago $ 1.25% 1.17% 9434 4834 7.40 114% 091 0345 30% 1170

Year Ago $ 1.005% J1034 W184 37% 125 1070

Steel. Pig tron Coke Connelsville Cement

Douglas fir. rough

Crude Oil

Lambs. avg. most sales (Ib.) S native hvy steers (lb.) comb. Cotton. Midupland (lb.) 13-15 deniers Jap «b.)... Rubber spt. smk. rib (Ib.) .... Copper electrolytic (Ib.) .....s Tin. Straits spot (ib.) Silver Comm) bars t(oz.) serap Chicago iron Age comp tton) or dom. Portland (bbl) Yellow pine 6-tn base tm. ft.) (m. Gasoline. tank wagon (gal) 40 eravity (bbl)

Source of Quotes—Chicago: scrap and hides. Boston: Wool. Belsville: Coke. Tulsa: Crude oll. New York: All ¢

. Wees Agu .1200 15% 41 .1261 1.90% 1953 J4 060215 066212 563% 4434 15.75 23.28 4.60 2.25 60.00 50.00

Year ago .1000 A1% 3515 1250 1.63 16 1-16 09% .0460 .0490 40% 44% 13.25 18.84 3.65 2.55

Today J125 8 J3% 41 1266 1.88 1918 a4 .06021% 06621 563% © 443 15.75 1 23.28 4.60 «2235 60.00

tlb.)..

(ton) ... (ton)

1s | Servel Inc

Ins. | Dep Ins

DOW-JONES STOCK AVERAGES

30 INDUSTRIALS +0.40 +0.81 +1.04 + 0.69

Yesterday Week ago Month ago 172.63 Year ago . 158.38 High 1937%.194.40; low 165.51. High 1936 184.90; low 143.11.

20 RAILROADS

. 169.01,

+,0.38 +0.19 +0.1% +0.01

Yesterday Week ago Month ago . Year ago High 1937 64.46; low 50.17. High 1936 59.89; low 40.66.

20 UTILITIES Yesterday Week ago Month ago Year ago High 1937 37.54; low 25.45. High 1936 36.08; low 28.63.

70 STOCKS

Yesterday Week "ago Month ago ......... Year ago High, 1937, 69.6%; low, 57.57. High, 1936, 66.38; low, 51.20.

High «13% 3

Low 1312 31 35% 79%, 22 107s 26Y2 i 5634 563% 56% 2% 2% 2%

Nat. Gypsum 13% Newport Ind 34 x 35% + 9% — 22 107s

No Pacific 262

! Oliver F Eq | Oliver F Eq rts

8% 18 23:

885 25

16 5 3Ya 843 53% 29 56 Va 17%

Packard oa 3 Paramt Pict 18 Parker Rust, Prf 2%

Pillsbury . Be Proctor & Gk Pure Oil 1734 Whe, + i 734 5Y2 34%

17%

73% 512 52 Re Stl ... 34% 342 31 31 277% 277s 10 10 12va 12% 271s 27Vs 19% 19% 42 42 26s 26% 21 21

Safeway

Sharp & D ... 10

Shattuck .. 12Y3 Shell Un Oil. 27% Vacuum 19% c

Spiegel Inc

WORLD'S HIGHWAYS GREATLY EXTENDED

Increased 3,000,000 Miles, :' Or 25 Per Cent in 8 Years.

Times Special NEW YORK, June 30.—Highways serving the world’s motor transportation needs total more than 9,900,000 miles ,an increase of more than 3,000,000 miles, or 25 per cent, during the last eight years. This was reported today in "a booklet entitled “World Highway Progress,” published by the Automobile Manufacturers’ Association of the U. S. A. The booklet gives maps and photographs. of highway developments in most parts of the world. Among the items it reports is the completion of Germany’s Autobahn system, consisting of 5000 miles of the most modern express highways to be found anywhere in’ the world.

The “All Red Route” from Cairo te the Cape, road building in China, Argentina an dthe Near East are included in the descriptions of progress.

INVESTING CO.’S

(By the New York Security Dealers Assn.)

Bid Asked Bid Asked Adm Fd. 11. 12 12.22 Inv Sh 1.44 1.57 76/Inc Invs. a 2 75|Inv Fd C 1 1.21 7.75|M 9.12 34.93 21.50 26.70 vss IN

wn Jt D340 in 3) 00 € Soawn EL

aya NaN WNAWHWWNOAWWWWNINO=OO es £160 80 09 00 14 01 1 © 00 OD ENG wot

NO=DOND

Diver B gh *D.. 63 17.60 Fidelity 27.78 1st Bo. 24.87 vos oR

NOD ImO mow

4.95 23.39 6.50

BANK STOCKS

(By Blyth & Co., Inc.) June 30

xIrving Trust xManutacturers Trust National Cit 41 Continental Ill Natl Cpicago 121 xFirst National Bk Bosto .. 46% xNational Shawmut Poston ae 20 National City Cleveland + = FIRE INSURANCE XAetna Fir City of New York Federal Franklin Great American oe xHanov Hartford

ome 3 ; xNational Fire North Rive

Westchester . 341, CASUALTY COMPANIES Continental Casualty 262

Mass. Bonding & surance .. 58 xEx-Dividend.

NEW BOND ISSUES

‘Bid Assd Tel 4's of’. 4 Atl chy, $ies 8 B $9 BF Sa sons, 5s 47 Calif Oro P wr 66

ndpls Water Li Kansas P & 412s 65 Koppers Co’ 4 . Los Angeles Rev 3'as M-..: Louisville gq. & E 3%s 6 Metro Ed Narra Elec: 24 66 Y ity 3s N Y 8 None ae ‘state P Ok! &

3Y2 Wise Pub Serv 4 81 ’

High. t Brands .+.. 12 tan C Ton . 83g tan G wn 6% tan A 8 .. 42% Va Ya

tan Oil N J .. 65 63 Ys - 34 a1 17 Wr ; . 18%;

Studebaker .... 123 3uperior O .... 1

Net Last. change. 12

i BY 65a 3a

Tenn oop, 12 Texas Cor 5 Texas Gut” Prod G Sul 34

Transamerica .. Trans ir Tri-Cont

Union Carb .... Un Oil Cal .

8 #00 CTU 4 ib OD NEO oe]

~— AOA 8

ond

U U S Stee Vadsco Sales ..

Waldorf Sys ... 13 1 th

Woolworth .... 4412 441}

23% 80%

Yellow Tr Young Sheet

ves 23Y . 80%

Zonite fexuveiso Bl TB a

SECURITY SALES DECLINE 37.9%

«| Stock Deals Decrease 39% In May—Bond Turnover Down 34.5%.

Times Special WASHINGTON, June 30.—Stock and bond sales on all registered security exchanges last month dropped 37.9 per cent in value from April, but stood 2.9 per cent above the dollar aggregate of May, 1936, the Securities and Exchange Commission reported today. - May sales on registered exchanges came to $1,474,109,197, as against $2,373,658,233 in April. Sales

on exempted exchanges came to $792,019, a drop of 31.8 per cent from April. Total sales of stock in May on registered exchanges, including rights and warrants, amounted to 43,991,993 shares, valued at $1,267,543,269, a decline of 38.2 per cent in vaiue and 39 per cent in physical volume when compared with April. Bond sales in May amounted to $238,347,920 principal amount, a decrease of 34.5 per cent from April. The price paid for the May pond volume at $206,517,976 represented a drop of 35.7 per cent from the aggregate of the preceding mornith. Sales of stocks on the New York Stock Exchange totaled 31,335,551 shares in May, against 52,532,784 in April. Value of these sales came to $1,290,401,000 as against $2,083,240,442 in April. Bond sales on the “big board” amounted to $204,294, - 000 principal amount last month, against $318,934,225 in April.

BROKERS’ OPINION

NEW YORK, June 30.—Brokerage opinion today: E. A. PIERCE & CO-—A definite change in the trend must await either the appearance .of favorable news or, in the absence of news, sufficient indications of a technical nature to be sufficiently reassuring to potential buyers of stocks. J. S. BACHE & CO.—We feel that sufficient price adjustment. has already been accomplished to warrant the assumption of a more constructive intermediate pull market attitude. LAMBORN, HUTCHINGS & CO. —It looks more and more as though the market is going to wait for definite signs of autumn business. HORNBLOWER & WEEKS — Judging from the absence of overnight selling of a nervous character, we think it reasonable to assume that purely speculative holdings, which normally are dislodged upon the appearance of news. of a disturbing nature, has been thoroughly liquidated during the prolonged and extended decline which had been in effect since March.

FORMER LEADER RECALLED By United Press NEW YORK, June 30.—Jackson E. Reynolds today was recalled from retirement to become chairman of the First National Bank of New York, succeeding the late George F. Baker. Mr. Reynolds was president of the bank a number of years but retired from all but an advisory capacity at the end of last year. He was succeeded as president by Leon Fraser.

New Business Books Available at Library

The following new business books are available at the business branch of the Indianapolis Public Library:

EXT STEP FORWARD IN RETAILING, by Edward A. Filene. “The way we do it now’’ versus fact collecting and interpretation. HISTORY OF LIFE INSURANCE IN ITS FORMATIVE YEARS, by Terence O’Donney. ‘‘The first athering together of the.'complete history of life insurance growth.” AGRICULTURAL PRICES, ' by Frederick Thomsen. Fundamentals, . various phases and analysis of farm prices. SHOULD THE GOVERNMENT OWN AND OPERATE ELECTRIC UTILITIES, by E. C. Buehler. Warns the debater that much has been written on this subject by anti- or pro-util-ity partisans. FUNDAMENTAL OF TRANSPORTATION, by Charles F. Walden. Vol. -1 in a complete text on traffic management.

LANDERS & LANDERS

INSURANCE

Jackson K. Landers, Mgr. = Careful Personal ‘Attention Given to the Business of our Brokers, Agents and Their Clients. 814 Merchants Bldg. L1-2408.

BEMIS

TYPEWRITTEN LETTER: AUTOMATICA..Y TYPEL ADDRESSING ¥ MAILING

ft.) 52.50

095

52.50 Bw 095 | 1.27 1.27

i | Grains livestock

are — East St. Louis:

MU .T'GRAPHING STENCILS CUT MIMEOGRAPHING RULED FORMS UE TO 14 X 20° ‘TWO NOTAM:«:

FITTER SERVICE

INDIANA LAW SOHOOL

(Of Indianapolis) Established 1

DAY AND EVENING Ee isions

Write or Call Registrar 303-324 State Life Bldg. . R1-2890.

| kinds within a range of $6 to $8.

HOGS SOAR TO NEW '37 TOP IN EARLY TRADING

Light Midweek Receipts Influence Trend; Vealers Are Up.

Light supply of hogs, around 3000 head, advanced prices 15 cents on the local market, according to the Bureau of Agricultural Economics,

U. S Department of - Agriculture. Top rose to $12.15 on choice 210 to 225-pound weights. Packing sows recovered 15 to 25 cents of Tuesday’s loss.

While cattle supplies were light, a good proportion of the run was made up of fed steers and yearlings, which continued to move actively at the week’s 25-cent and more advance on such offerings. Grossy offerings were not numerous. Other classes held steady, but activity in the cow trade spelled a stronger trade on these Top of .$14.75 went to 1152pound steers grading strictly choice, other good to choice loads from $13.75 to $14.25, and some around 1075-pound grain or grass kinds at $10.65 and $10.75, strictly grassers downward to $6.50. Most heifers Noe offerings selling at $11 downward.

Today's vealer trade developed into a very active session. A fully | Lo 50-cent higher market took the crop. Good to choice vealers cashed mostly from $10 to $10.50, with mediums mostly at $8.50 to $9.50, and conimon

Lambs found a ready outlet .at steady prices, especially on the good to choice grades at $10 to $10.50. Mediums moved rather slow, but around steady, within the bulk of $8.50 to $9.50. Slaughter ewes held steady at $3.50 down.

Receipts

0. [email protected] Ligh! Lights— 140-160) Good and oe dium

Lightwei, (160- weight Sood 2nd

Mediu (160-200) Good and

Median, Wein 200-220) ( ay and . (220- 250) Good and Heavyweights. (250-290) Good and (290-350) Good and Packing Sows—

choice $0, [email protected] 0.40@11, 50

. 1L.50 12.05

Fey oie 111.80 choice. . gt

choice.

—

LOOoD ft vet Br bt on

choice . choice .

own Wm tt oa

choice. . choice. .

-_O ow

det PO = BN fe) nay Son

AD 9D A CAR ° bo a

2 Slav hter Pig 100-140) Good and choice .

Bd bh fd fd fd pk Bh pd fb pd ed ft

~~ omit wo CO QUIUIO Onn Our OW

0S ed

OO -3

(500-900)

(900-1100)

ios Wien DONDE

29 99RD ORDO «w

(1100-1300)

(1350-1500)

De 40 53360 13.80 BD CV. C14 £3 Bn 3

SUA QD Ih o-Ib

Dano

(500-750) Boo

LO ONO ooo

(750-900) Good and choice .

ommon. medium.

Good 2nd choice Mediu Low ter ‘and cutter Bulls. good Cutter, com.

[a Dawn SnOH

Vealers OL 100 Good And choice . : Mediur Cull Ep common ..

Calves

Steers— (250-500) Good and choice. .$ 200210 00 oman, medium 6.00@ 8.00 der and Stocker Cattle (500- 800," Sond and choice § 7. mon. medium (800-1050) Good and choice . mmon, medium. Heifers— Good and choice ~ Common and medium SHEEP AND LAMBS

—Receipts, 800— Spring Lambs—

C Shorn eS (90-175) Good and choice Common, medium

By United Press

CHICAGO, June 30.—Hogs—Receipts, 11,000, including 3500 directs; Mariel: generally 10 to 15-:cents higher; $12; bulk good and choice 200-300 1bs., vehi. 6511. 35: 150-190 lbs., [email protected]; good 350-550 1 cking sows, $9. 90@ 10. 50; lightweights 5 $0) 0.65 and better. Cattle—Receipts, 8000; calves, 1500; another “very active market; fed steers and yearlings, 15 to 25 cents higher; all interests in trade; all order buyers active on kinds selling $13 up; local interest largely small taking all yearlings and yearling heifers showing grain at higher prices; top, $16; highest since in May. several loads, $15.506715.75; all grass cattle dull, weak, especially grass cows at $6.50 down; grass heifers at $8 down; bulls, steady to 15 cents lower; Joalers: 25 cents lower; selected vealers, Be lan 0, 000, including 6000 directs; native springers and yearlings, slow, weak to cents lower; Sesh steady: top native springers. $11.50; bulk to packers, $11; = choice yearlings, $9; slaughter ewes, [email protected]. FORT WAYNE. Jun ; 225-250 1bs., 200-225 1Ibs.,

e 53% —Hogs—20@ 25¢ $12.05; 250-275 Ibs. 3 1 85; 1bs.,

$11.30: 140-150 1bs., $11. 08! Ibs. $10.50; 120-130 1lbs.. $10.25: 100-120 lbs., $10; roughs, $9.75: stags, $8.50. Calves— $10. Lambs—8$10.50, LAFAYETTE, June 30.—Hogs—Market, Jogase higher: 210-235 1bs., $11.90@12; 235-275 1bs., [email protected]; . $iisoanl. 70; 180-210 Ibs. 160- 180 1 bs., $11.60@1 1705 @11.25; 130-150 lbs., $10. lbs., $9.715@ 1025 My Calves—$9.50 down. Lambs—$10 down.

U. S. STATEMENT

By United Press

WASHINGTON, June 30. — Government expenses and receipts for the current fiscal year through une 28, compared with a year ag Last TERT Expenses . 37.79

Receipts . Re 1302.00 53.80 Deft... 2.190, 38 1983.99

1 4,313.42 Cash ba 269

Customs .. a3. 5.230.23 384, igs. 451.71 s Purch. Total Purch. Inact, Gold. $20. yi 644.55" $1.078,350.179.79

FOOD PRICES

CA June 30. — Apples—Willow @1.75. . Sweet Potatoes—Teny Halls, @1. .25. Carrots— California grates $3.50@4. Spinach—Illibushel, 35@50c. Tomatoes—Texas, 1@ Ls Oauliflower—Qalifornia, eas—California, hampers, Celery Michigan. flat crates,

tes 3. 3k 5081. 75. 65@90c.

SAFE DEPOSIT BOXES

Reasonable Rental Security Trust Co. 130 E. Washington

Member Federal Deposit Insurance Cory

N. Y. Bonds By United Press

BOND PRICE INDEXES Inds. Rails Util 20 20 90.1 99.3 92.5 100.3 94.5 1M.3 92.6 ~ 105.6 80.1 99.7 101.2 166:0 90.1 99.3 100.4 106.2 84.71 103.3 86.4 103.6 93.1 71.0 89.3 83.0 (Copyright, 1937, by Standard: Statistics Co.)

60 93.4 04.6 05.9 96.3 89.1 100.7 93.4 100.2 93.3

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

U. 8S. GOVERNMENT BONDS Treasury Bands oF

99.12 Land Bank Bonds

99. 12

3s July 1955-45 Jan. 1956-46

4%s May 1957-37 41s Nov. 1958-38

Low Las 2 108% 66 941% 117s

22 101% 83

94Ys 1167 213%

Cons Edis 3has 56 Contain Cor 6s 46 Crane Co 3's 51.. .... Den Rio G W 5s 56.... 1 rie ref 5s "75 6873 lor E Coas 5s 74. Gen M Ac 3Vas 51. Gt Nor 4s H 46... Int T&T 4'28 52 .. Int T&T cv 4%s 39 Lou ATE Ry 5s 69 N 33s 2003 See ly Bac cv 5les 4 Mo Pacific 5s F177".

N Nor Pacif Es 2047 P & L 4's 81 . Phil Rd Coal 6s 49 ... Port GE 4'2s 60 ... U S Rubber 5s 47 Young S & T 4s 61 .... FOREIGN BONDS

Brazil 6l2s 26- 5 .

Italy 7s 51 Japan 62s 54 . Norway 4s 63

7 AUTO COMPANIES ENTER AGREEMENT

By United Press WASHINGTON, June 30.—The Federal Trade ©Commission announced that seven automobile manufacturers have entered into stipulations with the FTC to cease using tisements.

Those signing, according to the

FTC, were the Hudson Motor Car Co.,, Graham-Paige Motors Corp, the Studebaker Corp. and Studebaker Sales- Corp, of America., Chrysler Corp. Nash-Kelvinator Corp.,» Packard Motor Car Co., and Auburn Automobile Co. The Chrysler stipulation also was signed by its subsidiaries, Chrysler - Corp., and DeSoto, Dodge and Plymouth corporations.

The respondent companies, the FTC alleged, displayed advertisements containing the picture of an automobile equipped with accessories and featuring tHe purported selling price “which actually was less than the price of the car complete with accessories” as presented. ‘

STEEL SCHEDULE DROPS is, Week

By United Press NEW YORK, June 30. —Steel operations for this week are scheduled to start at 75 per cent of capacity, a decrease of 0.9 point and 1.2 per cent compared with the preceding week’s rate, the American Iron & Steel Institute estimated. today. The rate last week was 75,9 per cent. A month ago it was 77.4 per cent and a year ago 74.0 per cent. Vacations, which started in some mills, offset effects of the return to work of many employees in the Youngstown and Pittsburgh areas.

FINANCING OF AUTOS HIGHER DURING MAY

WASHINGTON, June 30.—The dollar volume of retail financing of new passenger autos shows an increase of 4.7 per cer’ for May, com-

pared with April, but a decrease of

8.6 per cent compared with the corresponding month of last year, the Department of Commerce reported. The aggregate volume for the first five months of this year was at about the same level as in the same period of last year, and about 55 per. cent higher than the corresponding petiod of 1935, it-was said.

CHICAGO PRODUCE

CHICAGO, June 30. — Eggs—Market, firm; reecipts, 15,517 cases; iresh graded firsts, 203ic¢; extra firsts, 21c; current receipts, 19c; dirties, 18¢c; checks, 17c; storage- -packed firsts, 21%c; storage-packed extras, 21%zc. Butter—Market, firm; receipts, 16,309 bs extra firsts (90-91% score), 29a 29%c; extra (92 score), ‘30c; firsts, 27Va@ 28%2c; seconds, 23@25c; standards, 293c; 3 ecials, 30%2@31c; centralized (89 score), 28V4c; centralized (88 score), 27Yac Poulsry Market, steady; ens, 55 trucks; ducks, 9@12'zc; hens, 13@17%c; broilers, hens, 10@12%c; turkeys, roosters, 12'2@13'%zc; ryers

13@l5c; old (including

barebacks), 17@2lc; spring chickens, 18@ :

Cheese—Twins, 18a@16%e; daisies, 16}2@ 16%c; longhorns, 1672@16%c. Potatoes—Supplies, light to good; market, Li to weak; California white Rose, $1. 55G1. S. Commercials, [email protected]; Virginia ies: $1.35; S. fo. 2, 85c; North Carolina (Cobblers, $1. 35; Missouri en Shon .20; Nort th Carolina Cobblers, U. C; North Carolina Bliss Triumph s, Ne: 40@1. 66: No. 2, $1: Arkansas Bliss Triumphs, i. 5 @1. 50; Oklahoma Bliss Shon 90c@$l; Oklahoma Cobblers, $1.05@1. Mississippi Bliss Triumphs, $1 [email protected]. ide 154; on track, 370; shipmeli's, 845.

Bonds

allegedly misleading adver-

eese, 13@17%c;" fase! a

demand, light

WHEAT RAGGED AS CORN DROPS IN CHICAGO PITS

Traders Hesitate Despite Bullish News From Northwest.

By United Press CHICAGO, June 30.—An erratie tendency in wheat marked market grain activity today on the Chicago Board of Trade. : At the end of the first hour wheat was unchanged to 3; cent lower, corn was 5s to 13 cents lower, and oats were 1% to 1 cent lower. Generally dry and warm weather in Canada, reports of spread of rust in the American Northwest and damage in some soft winter wheat sections were good bullish influences. However, hesitancy on the part of some traders to follow bulges, profittaking and hedge selling plus liberal movement of winter wheat offset the bull factors. Wheat receipts were 28 cars. December corn maintained a fairly steady tone following the reaction from the early downturn. The other months, however, softened considerably in midsession trading. Corn receipts were 29 cars.

WAGON WHEAT

' City grain elevators are paying $1.10 for old crop: new crop. $108: other grades on their meres, Cash gan, new No. 2 yellow, 7 ats, c ay—No, 1 Lr i 0 timothyg

WINNIPEG. WHEAT Open Change 1.35 — Vj vevie. 133 = Uy

LIVERPOOL WHEAT : Prev, close

Low $1.36 si. 1) $1.393% 1.36% 15 1.397%

140° 136% 1380 1.39%

aT SALES INCREASE

By United Press NEW YORK, June 30—During recent weeks all of the important sections of the world spinning industry have taken American cotton in volumes as large or larger than in the comparable period last year. Movement to Japanese mills has increased greatly. In the last 4 weeks 159,000 bales were forwarded as against 114,000 a year ago. Total movement to mills of the world in the period amounts to 861,000 bales compared with 776,000 bales in the corresponding period a year ago.

SALES ADVANCE FOR WHOLESALE FIRMS

By United Press NEW YORK, June 30.—May sales of reporting wholesale firms in this district rose 15 per cent above the corresponding 1936 month, the Monthly Review issued by the Federal Reserve Agent here said today. The increase was greater than that recorded for the preceding month. Clothing organizations reported the largest sales increase since July, 1936, while stationery firms enjoyed the largest expansion since December last year.

CEMENT OUTPUT IS UP

WASHINGTON, June 30.—Portland cement production in May was 4.8 per cent higher than in the

December.

Mines reported today.. Shipments were 5.8 . per cent higher than in May, 1936, and stocks at mills were 24.8 per cent larger.

OIL PRODUCTION INCREASES TULSA, Okla., June 30.—Daily oil production in the United States climbed 18,589 barrels daily last week, reaching a daily average of 3,538,147 barrels, the Oil and Gas Journal said today. The figure topped the Mines Bureau estimate by approximately 150,000 barrels.

ARMOUR ‘OPENS BRANCH BOSTON, .June 30.—R. H. Cabell,

a new branch office here estimated that second half earnings of the organization for this fiscal year should

half. In the first half net income was about $7,000,000 equal to about 80 cents a common share.

LOCAL PRODUCE

(The prices quoted are paid for stock gathered in the country while for deliveries in Indiahiapolis the prices are 1 cent higher. Each full case of eggs must weigh 55 ponds gross.) Pyge=-No. 1 Strictly fresh loss off. 150

OE eavy breed hens, 5 Ibs. and over, 136; Leghorn hens. 9c. Heavy breed . broilers, 1937 stock, 2 Ibs. and over 1 1937 stock, 2 lbs. 1937 stock 2° Ibs. Ducks, and over, 6c, 9 ta 14 ibs,

1, @34¢03 1. 29¢c;

broilers, Bareback broilers, over, 12¢c. Old roosters, 9c. feathered and fat’ 5 ibs Sees: full-feathered ahd fat.

No 1},

“Butter—Creamery. Butterf SP

No. 2, 31@31%ec. No. 2, 27c.

NAT NIE

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

Andianapolis Office | 200- 14 Circle Tower

Th omson & McKinnon

New York Stock Exchange New York Curb Exchange New York Cotton Exchange New York Coffee and Sugar Exchange New Orleans Cotton Exchange Chicago Stock Exchange : Chicago Board of Trade Winnipeg Grain Exchange

MEMBERS

And Other ‘Leading Exchanges

same month of 1936, the Bureau of

Armour & Co. president, in opening .

be ‘practically as good. as the first.

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