Indianapolis Times, Indianapolis, Marion County, 8 July 1937 — Page 21
THURSDAY, JULY §, 1937
PRICE INDEX AND COMMODITY QUOTATIONS
DAILY PRICE INDEX NEW YORK, July 8.—Dun & Bradstreet's weighted price index of 30 basic commodities, compiled for the United Press (1950-1932 average equals
100):
146.11! Year ago .... 145.49/1937 high ( April 5).
Month ago 142.77°1937 low
Following are the commodity prices
price index Commodity— Today $1.28% 1.29 0434 Sls 8.25 Ja21% 094 0345 3134 Ja1240 .0600
Wheat, No. 2 red (bu.) Corn, No. 2 yellow (bu.)....... Rye, No. 2 (bu.) Oats, No. 2 white (bu.)........ Flour, spg. pat. (196 Ib. sk.).... Lard, prime steam spt. (Ib.).... Coffee, Rio Ts, spt. (Ib) ........ Sugar, raw, 96 test (Ib.)....... Buiter, 92 score (Ib.).......... . Hogs, avz. most sales (Ib.)..... Steers, avy. most sales (Ih.)....
daily Commodity—
.126.49 158.26 141.12
compiling
(June 21). used in
Week Ago
Lead, spot (Ib.) .....
Year Ago $1.33% $1.08% 1.28 B44 7 SY 1% 403% 5.95 125 1185 1090 09% 06% 0345 0370 31 33% 1195 1050 0590 0635
nelsville: Coke.
Lambs, avg. most sales (Ib.) .... Hides, native hvy. steers (Ibh.)., Wool, fine unw. combing (Ib.).. A1 41 Cotton, Midupland (Ib.) Silk, 13-15 deniers Jap. (Ib)... Rubber, spt. smk. rib (Ib) ..... Copper. electrolytic (Th) ........ 4 4 Zine, spot (b.) ......... Tin, straits spot (Ib.) ....... eee Silver, comml. bars (o0z.)....... Steel. scrap Chi. (ton) Pig Iron, Iron Age comp. (fon). Coke, Connelsville (ton) Cement, dom.. Portland (bbl.).. 2.35 Yellow Pine, 6-in. base (m. fi). Douglas fir, rough (m. tf) ..... Gasoline tank wagon (gal) ... Crude Oil, 40 gravity (bbl)..... 1.27 Source of quotes—Chicago: Grains, scrap and hides. Boston: Wool. Tulsa: Crude oil.
Year Ago 1050 A1% 3516 1328 1.691% A165 09% 0460 0190 431% A134 13.25 18.84 3.50 2.55 50.00 38.00 L092
Today A155 A353
ro A125 J5%
1262 1.91% 1963
1262 1.99% JI91R8
06024 066214 59% A134 16.00 23.25 4.60
060272 066214 Sis A434 16.00 23.25 4.60 95 60.90 52.50 L095 1.27 1.18 livestock, lard, steel
East St. Louis: Zine. ConNew York: all others.
60.00 52.50 095
ROPER PREDICTS BUSINESS BOOM
Despite Some Interruptions Production Is Ahead, He Says.
returns from capital under our profit system. We must, and will preserve our capitalistic system wisely adjusted to new conditions. In my opinion, we will see increasing volume production in most industrial lines, more business with smaller but safer net returns. This means 8 more satisfactory distribution of the economic rewards for all concerned, namely, capital, management and labor, with proper and continuous consideration of the consumer.
FEDERAL BANK PRIVATE LOANS UP
By United Press WASHINGTON, July 8. —Commercial, industrial and agricultural loans by members of the Federal Reserve System in 101 leading cities in the week ended June 30 showed an increase of $23,000,000, the weekly statement of the system showed. Loans to banks decreased $44,000,000, holdings of United States Government obligations declined
CIVIL SERVICE CHIEF RETIRES HERE JULY 19
Frank J. Boatman to End Federal Duties After 2-Week Vacation.
Frank J. Boatman, U, S, Civil Service Board secretary here, began a vacation today from his Federal job which, with the exception of one day, is to end his Government services.
Mr. Boatman, who will he 65 on July 19, retires as local secretary July 30. He goes on a vacation today and returns on July 30.
Although he is to receive a pension Mr. Boatman said, “I'm going to get a job or go into business again. I can’t afford to retire.” Mr. Boatman became a postoffice clerk after the World War and held a position in the inquiry department until April 1, 1933, when he was transferred lo the secretarvship of the Civil Service Board. During his years of service, 8263
THE INDIANAPOLIS TIMES A Boy Scout Uses His Bean
A Bostonian may leave Boston, but he never leaves his baked beans, Scout David Binkley, 13, proved in the above picture as he sat poised before what he termed a “snack” of his home city's most famous dish. David gave the demonstration at the Boy Scout Jamboree in Wash-
ington.
a son, Frank S. Boatman; a daugh- | Tom terminal and the Kingsland, ter, Mrs. Clayton W. Schulz, both |N. J, munitions factory. or Indianapolis, and a stepson, Earl
SIX BIDS RECEIVED ON RURAL POWER
Indiana Rural Electric Membership Corporation officials today were considering six bids submitted for partial rural electrification contracts in Marshall, Rush, Wayne
PAGE 21
and Noble Counties, Marvin J, Briggs, manager, announced. The bidders included the Ulen Construction Co.,, Lebanon; Con tracting & Material Co., Chicago; Andrews Asphalt Paving Co., Hame ilton, O.; Haines & Haines, Do= wagiac, Mich.; L. J. Laird, Battle Creek, Mich, and the O'Rourke Electric Service Co. of El Dorado, O.
State
U. S. government securities
Purniture and fixtures
Other assets.
The Marion County
Statement of Condition June 30, 1937
RESOURCES Cash on hand and on deposit with other banks .$108,020 32
Other bonds and securities. . .,
Sestsnttssnenranen
TERA IIININNNI EI IT EINE Eee
Other real estate. ..... CORR
Bank
116,892 88 63,804 13 . 284,764 51 1,800 00 21,997 35 2,103 98
$549,392 17
The commission refused in effect to order Germany to pay the sum | involved to the American claimants, who have been fighting 20 years to [pin on Germany the responsibility WAR CLAIMS FIGHT | for explosions and fires which de- Deposits Sw NY . 470.474 21 |stroyed their property. The refusal | Other liabilities. .. .. , | came when the commission, with | * 7.794 09 By United Press | Supreme Court Justice Owen J. Rob- T$540.392 17 WASHINGTON, July 8. — Ger- erts presiding, dismissed a motion of ident many today won a new decision by | the American agent before the comthe German-American mixed claims | mission to grant payments on the
$37,000,000 and demand depositsadjusted declined $103,000,000.
WORLD TIN STOCKS CUT
Times Special LONDON. July 8 —World supplies of tin at close of June totaled 17.304 tons, while Straits carryover at | Arnheim came to 5,135 tons, ac- | cording to Garsten's estimate.
persons took Civil Service exam- LIABILITIES inations. He has interviewed or given advice to 83,679 persons. Prior to his Government employment he operated a drug store. He served in the World War and now holds a reserve rank of lieutenantcolonel. Joseph Zix of the Postoffice Department, is to serve as acting Civil Service secretary while Mr. Boat-
h. By SECRETARY OF COMMERCE . Danfort
DANIEL C. ROPER Written for the United Press WASHINGTON, July 8.—Barring | prolonged continuation of labor disturbances with resultant loss of production, basic conditions point to a good business momentum dur-
GERMANY WINS NEW
LUMBER INDUSTRY ~ ADVANCES IN WEEK
Production Advances to 3d
Capital stock Undivided profits ,......
vv $ 62,500 00 8,623 87
ing the summer, followed by a more
pronounced surge in the fall. Sup- |
porting the indications of this
trend are favorable crop prospects, |
increased dividend payments and | spread of purchasing power through gradual rise in employment. Despite some interruptions in industrial operations due to strikes, industrial production during the first five months of the year was 20 per cent ahead of the comparable 1936 period. Factory employment was 13 per cent higher and factory payrolls increased 29 per cent. The development of new industries is 2 factor in stimulating industrial activity and will likely figure more prominently in the near future. For example, the value of
air-conditioning equipment manu- |
factured last year was nearly $50.000.000 while in the first months of this year, the output was $25,000,000, compared with $12,000,060 in the same period of 1936. The value of automobile trailers sold last year was over $37,000,000. The aircraft and engine manufacturing industry had the best five months this year in history, the output $39,000,000 comparing with $24,000,000 in the comparable 1936 period. The production of 2,291,551 motor vehicles in the first five months of this year compares with 2,035,593 in the same period of 1936, an increase of 12 per cent. Gasoline con-
sumption is 14 per cent ahead of last |
year. Notwithstanding present nervousness, industry and labor must and will respect the law as well as agreements and approach their problems in an attitude of reason and co-operation. It is this co-op-eration relationship that has brought about their mutual progress and given us the highest standard of living in the world. They must also accept their proper responsibilities for the solution of the national unemployment problem. To this end, labor leaders must seek ways to divide work opportunities among a greater number of employables, while industrial leaders must find ways to advantageously employ more people and then willingly meet their share of the tax burden necessary to care for the remainder.
It is obvious that in the next decade, at least, we must face large levies and be satisfied with smaller
Report of Condition of THE FOUNTAIN SQUARE STATE BANK of Indianapolis. in the State of Indiana, at the close of business on June 30, 1937. ASSETS Cash, balances with other Dates. and ask ‘tems in rocess of collection $§ 451.033. United States Government obli- Puss gations, direct and fully guaranteed State, county obligations . Other bonds, notes and debentures “u Corporate none of bank stock ! Loans and discounts Overdrafts . > tinia “oy Banking house owned, ture and fixtures . :
842,360.63 27.000.00 93.413.40
and ‘municipal
stocks, : Federal
including Reserve
5,500.) 703,986.08 . 57.32 furni4,500.00
Total "assets ................32,137.851 41 LIABILITIES AND CAPITAL Deposits of individuals, partnerships and corporations: (a) Demand deposits .. . $ 839.983.15 (b) Time deposits evidenced by savings pass books.. 866,166.64 (c) Other time deposits . 28,758.00 State, county and municipal deposits . 182,000.00 Certified and officers’ checks, letters of credit and travelers’ checks sold for cash, and amounts due to Federal Reserve Bank (transit account) 13,859.84 Total deposits ... .$1,930,767.63 Other liabilities . 294.65
Total liabilities capital account Capital account: fa) Capital stock 1000 shares of common stock
per .oe....$100,000.00 ib) eras 49,000.00 (c) Undiv ded 24,789.13
profits . fd) Reserves os 7.000.00 (e) Total capital account 206,789.13 Total liabilities and Sapital $2,137,851.41 MEMORANDA (a) Included in loans and discounts are loans to affiliated companies (b) Included in other notes, debentures and cor porate stocks are obligations of affiliated companies $15,500.00 (a)Included in total deposits are first lien trust funds .. 746.78 (b) Included in total deposits are deposits secured y loans and/or investments None LOANS AND VESTMENTS | ‘PLEDGED TO SECURE LIABILITIES Pledged assets (except real estate),
excluding
rediscount and securities loaned: (a) U, 8. Government obligations, direct and fully guaranteed, pledged to secure liabilities Other assets (except real estate) pledged to secure liabilities ihcluding notes and bills rediscounted and securities Sola, der repurchase agreem Assets eto "with ‘State authorities to qualify for the exercise of fiduciary or cororate powers, or pledged or other purposes (d) Securities loaned to banks, Sealers in securities, and
(b)
None
None 1 vai her “schneider, ‘cashier. of the above named bank, do solemnly (swear, affirm) that the above statement is true, and that it fullv and correctly represents ‘he true state of the several matters herein contained and set forth. to the best of my knowledge and belief. Correct.—Attest: VAL F. SCHNEIDER
Cashier. H. LANGSENKAMP, ROBERT E. SWEENEY
Directors. i
State of Indiana, County of Marion,
Sworn to and subscribed before me this || 1st day of July. 1937, and I hereby certify |
Bhat 1 am not an officer or director of this (Notary's Seal) THOS. A. RESSLER, otary Public. My commission expires April 3, 1940,
four |
$1,931,062.28 |
Highest Level of Year.
By United Press
i WASHINGTON, July 8—Lumber |
| production in the week ended June | 26 rose slightly over the preceding | | week to the third highest level of | the year and stood at 83 per cent | of the 1929 week average of production, the National Lumber Manufacturers Association said today.
Production by 541 mills, 3 per cent less than in the preceding | week, aggregated 290,883,000 feet of hardwoods and softwoods combined, an increase of .05 per cent compared with the preceding week's total of 290,727,000 feet when 560 mills reported. Shipments totaled 258,466,000 feet, fa gain of 4 per cent over the preceding week’s total of 210,331,000. {* The weeks reported production | 33 per cent greater than new business booked, and 13 per. cent | more than shipments. Shipments ven at 76 per cent of 1929 weekly
average.
BRITAIN MAY LOWER STEEL IMPORT DUTY
Times Special ; LONDON, July 8.—Sharp reduc-! tions in England's steel! import duties are expected to be made shortly due to the growing shortage | of steel in Great Britain. Anticipated action by the Imports Duties Advisory Committee leaned toward a cut to 12': per cent, or 15 per cent from the present 331-3 | per cent levy. Any reduction, it was said in the trade, would only be temporary to correspond with the rearmament | program. United States, largest supplier outside of the European cartel, would benefit mostly by the | expected reduction, it was said.
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TERRE HAUTE
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INDIANA RAILROAD SYSTEM
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Name ....
This compared with 18704 tons
| and 4,323 tons, respectively, at the | | end of May.
man is on vacation and until his
successor is named. Mr. Boatman is married and has |
commission worth of alleged wartime damages to owners and underwriters of Black
involving $20,000,000
Munich last summer.
basis of an agrreement reached between Germans and Americans at
Member Federal Deposit Insurance Corporation
Condensed Statements of Banks and Trust Companies—Members of The Indianapolis Clearing House Association
Other bonds and securities Loans and discounts .
Capital stock aa Preferred capital debentures Ondividea profits Reserves Deposits ..
Security Trust Company
Statement of Condition June 30, 1937
RESOURCES
Cash on hand and due from bani United States government securities ....
Furniture and fixtures. .... “ey Other real estate owned....... Other resources ..... Ci
LIABILITIES
a EE
CONTIN A AS tera reves 4,279,182 35
Member Federal Deposit Insurance Corporation
$1,498,619 97 308,962 67 +. 1,443,204 69 Sei, +. 1;893,118 68 - . 26,594 82 197,746 99 20,116 35
$4,888,424 12
“rss asstrenne
$ 200,000 00 199,200 00 83,233 76 126,808 01
esses ERRE TERR,
$4,888,424 12
Fletcher Trust Company
Statement of Condition June 30, 1937 BANKING DEPARTMENT
Resources
Cash on hand and with Federal Reserve and Other Banks... Onited States securities. State and municipal securities. . Other securities Stock in Federal Reserve Bank. Loans and discounts Bank buildings (8) and equipment Other real estate Other resources
$ 8,817,158 9 15,021,981 63 3,872,643 05 4,069,532 42 90,000 00 6,178,535 65 1,096,696 74 365,616 07 77,111 96 oo $39,589,276 45 Liabilities $ 1,500,000 00 935,000 00 858,988 22
Capital stock Preferred capital debentures. ... Surplus and profits Reserves Guaranteed mortgage certificates
20,165,160 18 15,331,023 93 664,853 25
3,293,988 22 133,250 87 1,000 00
36,161,037 36
"$30,589,276 45 TRUST DEPARTMENT
Trust Funds Invested $21,011,066 12 Trust Funds Uninvested 664,853 25 Customers’ Securities...... 2,360,779 97 Corporate Trusts Joes. 24626401 00 Real Estate Trusts 5,832,944 93
Member Federal Deposit Insurance Corporation
Other bonds and securities Loans and discounts
Other real estate owned.
Other resources
Capital stock . Surplus
Reserves Deposits
Total
Bankers Trust Company
Statement of Condition June 30, 1937
RESOURCES
Cash on hand and due from banks...... ee United States government securities....
Company’s office building and banking house...
Furniture, fixtures and vault. ...
tigre sat ese NRIRERRR RRR,
LIABILITIES
[EERE EEE EEE EERE
Undivided Profits ............
Mortgage on company's "building. .
Member federal Deposit Insurance Corporation
$ 890982 25 570,298 01 733,474 42 726,930 82 1,157,000 00 193.247 16 12,045 16 115 00
ses eee
sess rrean eter
$4,284,092 82
SOY .+++.% 500,000 00 300,000 00 215,360 98 SABRINA 52,627 38 . 3,066,104 46 150,000 00
Sarre s esse RneRn
... $4,284,092 82
assess sss nsenee
and other banks Other bonds and securitiss
Loans and Discounts Overdrafts
Other real estate owned
Other resources
Capital Surplus Undivided prot its Reserves
and unpaid
Deposits
The Indiana National Bank
Statement of Condition June 30, 1937 RESOURCES
Cash on hand and due from Federal Reserve United States government securities. .
Stock in the Federal Reserve Bank
Bank building and ‘equipment g ARS AENENIE we
Customers’ liability account ‘acceptances...
LIABILITIES
“essere Sevens
Interest, taxes and other expenses accrued Dividend payable July 1, 1937.......... ih
Acceptances outstanding. . : So Other liabilities ........ ov.
Member Federal Deposit Insurance Corporation
$39,257,109 65 43,753,637 19 16,432,423 58 : 210,000 00 ees... 16,929,160 36 Codes, 213 22 1,295,346 50 182,653 41 10,307 64 9,049 28
$118,079,900 83
EEE EEE ore
Sra Tessa
srBsrasetent en
$118,079,900 83
American National Bank
Statement of Condition June 30, 1937
RESOURCES Cash on hand and on deposit with Federal Reserve Bank and other banks Onited States government securities Oth>r bonds and securities ........... SIN Stock in Federal Reserve Bank Loans and discounts Bank buildings and equipment Customers iiability account letters of credit and acceptances 57,525 60 Accrued interest raceivable and other resources 82,293 06
$33,757,055 68
$10,831,245 23 13,925,176 16 984.255 46 79,500 00 6,825,238 17 971,822 00
LIABILITIES Capital stock: Preferred Coopstn Surplu Ondivided profits Reserve for dividend payable in common stock 3,095,299 32 112,702 92 13,875 00 57,525 60 23,800 69 30,453,852 15
Reserve for taxes, interest, contingencies, etc. Reserve for dividend on preferred stock Letters of credit and acceptances outstanding Interest collected but not earned
$33,757,055 68 Member of the Federal Deposit Insurance Corporation
Other bonds and securities Loans and discounts
Other real estate owned
Capital ... Surplus
Deposits
The Merchants National Bank
Statement of Condition June 30, 1937
RESOURCES
Cash on hand and on deposit with Federal Reserve Bank and other banks
United States government securities ..
Bank building and equipment ..
LIABILITIES
Undivided profits ....... SCORER Reserve for taxes, interest, ete. Dividend payable September 30, 1937..
CER sere
Member Federal Deposit Insurance Corporation
$14,224,939 70 7,830,461 42 8,117,825 23 6,992,180 89 1,000,000 00 5.000 00
cesens es Sesdsnnee seBrssbentente. sss
rss sRNNR
$33,170,407 24
228,323 39 Sess e 25,000 00 . 29,510,304 32
seas sasennee
trea sents
$33,170,407 24
Other bonds and Loans and discounts Bank building Other real estate owned. .
cecurities
Total resources.
Capital stock
Tessar
Dividend payable July 1, "1037. Deposits Other liabilities. . Total liabilities
Trust real estate
The Union Trust Company
Statement of Condition June 30, 1937
RESOURCES
Cash on hand and due from banks ...... United States government obligations...
ssssssnesesee
Other resources......... SOSA
LIABILITIES
Surplus Seiten 8 Undivided profits....... SOSA
fas atraert anes ene .
SR Lara rR
Sere anssssnen PE
...$9,107327 76 ess. 6,102,063 99 . "3,466,492 45 4,780,426 09 138,000 00 1,170,733 97 96,081 34
.$24,861,125 60
ses ease
oie 1,000,000 00 000,000 00 482,129 01 6,549 60 30,000 00 21,148,022 424 20
$24,861,125 60
TRUST DEPARTMENT Customers securities in Spel
8,652.960 00 29,071 ao x
Registrar stocks
wiesveieedeees 121104 704.160 0
Member Federal Deposit Insurance Corporation
Fidelity Trust Co.
Statement of Condition June 30, 1937
RESOURCES
h on hand and in banks .......... Covey $1,047,512 os government securities 607,182 mn Federal farm mortgage and federal land bank ponds Other bonds 2nd So gute Se a foans and disco Bank building he) TY Othér real estate
Total banking assets
LIABILITIES
Bank building Other rea] estate owned Other assets
Total
LIABILITIES
Se RBEsIEI Earns CE
S000 eta aBrnssetanten.
The Indiana Trust Company
Statement of Condition June 30, 1937
RESOURCES
Cash on hand and due from banks United States government securities... Other bonds and securities ......... WA
SONI RNRNIIRY PENNS RBRONNRBRNNNOS
Pets sn tests BRR RRB RR
.
$6,397,541 50 4,633,030 T4 3,244,343 20
"ese
sete
SrsBseBeR