Indianapolis Times, Indianapolis, Marion County, 26 July 1937 — Page 15
MONDAY, JULY 26, 1937
THE INDIANAPOLIS TIMES
PAGE 15
COMPLETE N. Y. EXCHANGE
STOCKS w
w
The
Times Financial and Market Page -
COMPLETE LOCAL
x LIVESTOCK
UTILITIES
LEAD IN
IRREGULAR MARKET ¢ AS BONDS ADVANCE
®
Case and Harvester Shares Make New High.
By United Press NEW YORK, July 26. — Utilities featured in activity on an irregular stock market during morning dealings today. The list moved into new high ground on the recovery at a fairly
active opening and then ran into profit-taking. Toward noon the
trend was higher again and volume |
picked up. United Corporation, Commonwealth & Southern, American Power & Light and American Water Works featured utilities. Other active issues included National Power & Light. Standard Gas issues and Consolidated Edison. Most had small gains. Steel common touched 118'% early fell to 1167s and then came back to 117%, up % net. Other steels were fractions to a point lower. Rails firmed for a time and then turned down in light trading. Oils were mixed. Case and Harvester made new highs. Motors eased fractionally. Listed bond prices worked irregularly higher in dull turnover today under the lead of selected domestic corporate issues and U. S. Government funds.
FIRST HOUR
The market opened firm and fairly active. Subsequently dull trading brought lower prices in most groups. U. S. Steel was 3% lower at 116%. Youngstown Sheet & Tube 13% loss at 92 and Bethlehem had 1'4 loss at 9414. Cherysler showed 1% loss at 113% and General Motors eased. Utilities were fairly prominent in early trading, but lost their zest. Consolidated Edison was off % at 407, but National Power maintained a slight gain. Atchison showed 3 gain at 85% after opening a point higher while New York Central was 9 lower at 41%. Volume approximated 290,000 shares compared with 290,000 in the first hour Friday. Dow-Jones averages—Industrial 184.27, off .58; rail 55.01, off .04; utility 30.65, unchanged. SECOND HOUR
Utilities continued to attract the greatest attention. United Corp. was up 4 at 6'2. Columbia Gas up 4 at 15%. Peoples Gas up 1% at 52% and other issues came up from their lows. Chesapeake & Ohio maintained more than a point gain to feature rails. U. S. Steel came back to 117% for sx gain and other steel shares firmed from their Jows. Chrysler maintained 7: decline at 114': while General Motors was fractionally lower. Volume approximated 170,000 shares compared with 150,000 in the second hour Friday... Dow-Jones averages—Industrial, 184,42, off .43; railroad, 54.96, off .09; utility, 30.81, up .16.
A oday s Business At a Glance
GENERAL BUSINESS
Association of American Railroads, reports new freight cars on order July 1 at 42,624, greatest since 1024, vs. 28,089 year ago; new steam locomotives 301 vs. 67 year ago; new electric and Diesel locomotives 33 ve, 23; new freight cars installed 34,187 for first 6 months, largest since 1930. Magazine Steel, reports steel operating down one point to 81 per centof capacity. R. L. Polk & Co.. estimates June passenger sales revised at 345,000 units vs. 335,000 year ago.
CORPORATION NEWS
Atchison, Topeka & Santa Fe Rwy. Co, June net operating income $3,783,468 vs. $1,787,359 year ago; six months net $8,955,095 vs. $3,734,980 year ago. Bendix Aviation
Corp., June
MARKETS AT A GLANCE
Stocks irregular; utilities tive. Bonds irregularly higher and quiet; U. S. Government issues firm, Curb stocks moderately higher and quiet, Chicago stocks firm. Call money 1 per cent. Foreign exchange higher. Cotton futures off as much as $1 a bale. Grains futures lower at Chicago; corn off 15% to 3%ec a bushel. Rubber futures lower. Silver in London 20 1-16 pence a fine ounce, up 1-18 penny.
Curb Stocks
By United ress
ac-
Alum Ltd
‘Alum Co Am
Am Cyan B Am Maracaibo
Brill C Carrier corp Cities Serv Cities Sv P L sr So oO G .
HAH Bes Cord Corp . Creole Pet ... Cusi Mexic ... Dayton Rub .. Eagle Picher n= - Equity Cp Fisk Rubber Ford Can A Ford M Ltd
eh TER. ....vvuvvivs Grd Nat Films . Gt Nor Paper .
Gulf Oil i Humble Oil . Lion Oil . ... Lockheed Air .. . Mesabi Iron ......vv0n
Niag H Pwr Pantepec
Chicago Corp .. Comw \ Edison Consol B Dayton Rubber
Stan Dredging Utah Radio Prod Zenith Radio
income $1,439,895 vs. $1,323,896 preceding 12 months. Tennessee Central Railway Co., June net operating income $18,611 vs. $38,223 year ago; six months net $157,159 vs. $189,339 year ago.
Trucson Steel Co. June quarter net profit $274,442 vs. net loss $49,484 preceding quarter and net profit $386,414 year ago; first half net profit $224,958 vs. $320,216 year ago. Western Maryland Railway Co., June net income $74,547 vs. $64,405 year ago. six months net $972,618 vs. $565,302 year ago. Wheeling & Lake Erie Railway Co., June surplus $445,221 vs. $331,431 year ago; six months $2,293,863 vs. $1,456,361 year ago. Wisconsin Central Railway Co., June surplus $39,474 vs. $12,866 year ago; six months $388,100 vs. $753,544 year ago. Worthington Pump and Mzachinery Corp., orders July 1 were 81 per cent more than year ago, highest in seventeen years. Briggs & Stratton Corp. first six months show profit of $3 a share vs. $593,227 or $1.98 year ago; June quarter net profit $471,491 or $1.57 a share vs. $429,171 or $143 preceding quarter and $271,377 or 91 cents year ago; 12 months net $1,280,279 after Federal taxes or $4.27 a share vs. $979,207 or $3.27 preced- | Lo ing 12 months. Catalin Corp. of America, first six months profit $124,020 vs. $156,585 year ago; 12 months profit $304,744 vs. $299,090 preceding 12 months. Central Power & Light Co. and subsidiaries, quarter ended June 30 net inconie $343,862 vs. $240,063 year ago; six months net $713,797 vs. $461,699 year ago. City Auto Stamping Co., first six
| months net profit $245,039 after Fedj eral taxes vs. $306,125 year ago.
Kroger Grocery & Baking Co.,
quarter consolidated net profit $825.- | four weeks ended July 17 sales $18,
453 or 39 cents a share vs. $806,508 or 38 cents a share year ago; Six months net $1,631,961 or 78 cents a share vs. $1,869,560 or 89 cents a share year ago; twelve months net $2,787,892 or $1.33 vs. $3,422,298 or $1.63 preceding twelve months. Cluett Peabody & Co., six months net profit $606,112 or 85 cents a share vs. $401, 548 or 50 cents year ago. Colorado & Southern Railway Co, June net operating income $145, 198 vs. $4147 year ago; six months net $358,414 vs. $50,779 years ago. Diamond T Motor Car Co. six months net profit $332,063 or 83 cents a common share; second quarter net $199,466 or 50 cents a share vs. $132,597 or 33 cents a share Pre. ceding quarter. Great Northern Railway Co., six months net income $89,866 or 3 cents a share vs. net loss $2,869,036 year ago; June net income $2,377,503 vs. $643,076 year ago. Mengel Co. and subsidiaries, quarter ended June 30 net profit $175,869 vs. $71,423 year ago; six months net $282,896 vs. $83,540 year ago. Minneapolis St. Paul & S. S. Marie Railway Co., June deficit $273,412 vs. $373,641 year ago; six months deficit $3,196,966 vs. $3,211,454 year
a Northern Pacific Railway Co. June met operating income $1.648.088 vs, $544 987 year ago; six months net $4,258,990 vs. $1,454,822 year ago. Panhandle Eastern Pipeline Co. and Jen year ended June 30 net Income $2,970,105 vs. $1,711,185 year ago. Reed Roller Bit Co. first six one profit $1,080,164 vs. $851,year ago. Diego Gas &
667,600 vs. $18,728,603, off 0.3 per cent, 28 weeks sales $136,790.019 vs $126,187,059 year ago, up 8.4 per cent. Limbery-Clark Corp., year ended June 30 net profit $1,994,083 or $2.87 a share vs. $1,194,052 or $1.22 preceding year. Reliance Manufacturing Co., second quarter net loss $6,548 after Federal taxes vs. net profit $291,868 year ago; six months net profit $184,194 vs. $437,267 year ago. Rochester Gas & Electric Corp. year ended June 30 surplus $1,600,947 vs. $1,296,261 preceding 12 months. Southern New England Telephone Co., reports July 1 telephone stations in Connecticut 333,672 vs. 331,141 in June and 320,764 first six months. (Copyright, 1937, by United Press)
LATEST NEW YORK STOCKS
By United Press
\lisochal . \m Bank Note . m Cal
BO
Penaix op
ge Beth Stee Beth Steel 5 ot 1 Blaw-Knox 24 joeing Air ..... Borden 2 30TE- Warner
Bri 3K IY 3K1y klv
surroughs 3utte Co 3yers A
Callahan Zinc. . Calumet & H Case, J I Celanese ... Cent Foundry . Cerro de Pasco 75% Certain-teed ...
Com RoIents " Comnw 3% Comnw & So pf 501, Cong-Nairn ... 385% Cons Edison Cons Oil Container Co C
.. 24 Cont AS Del ve Crane Co 5012 HAR Cork .
Curtis Pub u : ~ Curtiss-Wr Curtiss-Wr
oe
Deere > Co ...142 Deere pn . 28'a Diam 3 Mot. . 17 Dist Seag ...... 23% Dome Mines ... 40 Douglas NE «585% Dul SS&At .
Elec Auto-L . Elec P&Lt
. 39% 232
Firestone “el Flintkote Co . Follansbee
od Mach .... Freept-Sulphur.
Gen Electric ... n GE A ...
Graham- Paige . Grant WT .... Gt North PE... Gt Nor Ore ....
Ham Watch
Hudson Motor . Hupp Motor ...
Ill Central ... Inspiratn oop . 2 Inter Iron . Int Agric Int ror vester . Int Hvd El A .. 14% Int M Marine. . Int Mining ... Int Nickel Int Shoe Int T Intst D 8
Johns-Man Kennecott . .. 60% Kroger G & B. 213%
Lamber3, PCem .... ten Val RR ... L-O-F Glass ... Eb ar waves 26
ne Po Star Cem. 58% jo rilard A
Lou G & Ludlum Sor cers 35%
Ne: rt Ind 3 NY Air Brk..
Net Chanee
Last
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For Final Stock Quotations See Later Editions of The Indianapolis Times
DOW-JONES STOCK AVERAGES 30 INDUSTRIALS +1.0% +2.34 —-1.74 +1.36 High, 1937, 194.40; low, 165.51. High, 1936, 184.90; low, 143.11. 20 RAILROADS
Saturday
64.46; low, 50.17%. 59.89; low, 40.66.
20 UTILITIES
High, 193%, High, 1936,
Saturday Week Ago Month age Year Ago High, 193%, 31.534; low, 23. a. High, 1936, 36.08; low, 28.63. 70 STOCKS 40.53 +0.85 —0.80 +0.82
Saturday Week Ago Month Ago .......coonvvens “ Yeur Ago High, 1937, High, 1936,
69.67; low, 57.5%. 66.38; low, 5L.20.
Net Last Change 423% a Ya Us
Low
42% 4% nw
in
High N Y Central ... Y NH&H .
No Pacific Yo
2034 673% 16's 95
Ohio Oil 2034 Oliver Farm Eq 67% Omnibus 6a owens h Glass 05 —lP Pac G & El .. 33 33 Packard . Vi, Paramt Pict Park & Til.... Pathe Film ....
1 27% 235% 611% 44 55Y 21%
tts Sc ‘vi Plymouth Oil .. Door B ,.. 5. Proctor & G... Public Serv
Pullman Pure Qil
Cb
FE
FEIH+++ 1+ +
NJ... 1%
ECONOMISTS HOLD PROSPERITY NEAR
Employment Has Risen to New Peak Since 1919.
By United Press NEW YORK, July 26.—Business recovery has acquired momentum and the United States is on the verge of an era of prosperity, three of the nation's leading economists said today. Simultaneously, reports from other sources disclosed that employment has risen to a new high peak since i929 and that national income for 1937 promises to be the highest for the recovery movement. Prof. George F. Warren, President Roosevelt's former gold adviser and his associate, Prof. Frank A. Pearson of Cornell University, predicted in the magazine Fortune that the nation soon will witness a building boom of “enormous proportions” which will create an era of prosperity lasting until about 1943. “This recovery has a momentum that promises to carry it ahead for & long time yet despite the many obstacles in its path,” said Col. Leonard P. Ayres, Cleveland Trust Co. vice president, writing in the advertising agency in “Hazarding an Estimate” that this year's holiday trade will be about 12 per cent better tnan last year. The Alexander Hamilton Institute reportcd the number of employed persons rose in May to a new recovery peak of 42,110,000, only 3,384,000 iess than at the predepression high in September 1929 of 45,494000. The Institute pointed out, however, that in September 1919 there were only 2,951,000 persons unemployed and that since that time there has been an increase of 2.034,000 in the supply of workers. Thus, a total of 9,269,000 persons were unemployed in May, a new low for the recovery movement, a reduction of 2,064,000 from a year ago and a decline off 7,380,000 from the peak unemployment figure of 16.649,000 in March, 1933. The Institute also said that de-
1%
* | spite a downward tendency in May:
for the second consecutive month, national income for the first five months this year was $29,355,000,000 against $34,115,000,000 in 1936, an increase of 21.7 per cent. The Guaranty Survey, publication of the Guaranty Trust Co., New York, said the record of American business in the first half of 1937 was one of continued recovery. The ability of trade and incdusiry to make further gains against a background of strikes, floods uncertainties,” the Survey concluded. illustrates the strength of the forces
and warrants the hope that the trend may be maintained during the second half of the year in spite of ! continuing difficulties.”
PRICE INDEX AND COMMODITY QUOTATIONS
(Reprinted From Late Times
DAILY PRICE INDEX NEW YORK, July 26.—Dun & Bradstreet’s daily commodities,
weighted price index of 30 basic
for United Press (1930-1932 average equals 100) :
Friday ............142.56 | Year ago Month ago .......
A274
“es ene
146.54 | 1937 high (April 5). 158.26 145.44 | 1937 low (June 21)..141.12
F t diy in are. he commodity prices used in compiling the
Commodities— Wheat, No. 2 red (bu.) ........ rn, No. 2 vellow (bu.) ...... Rye, No. 2 (bu.) MERCER Oats, No. 2 white (bu) ...... Flour, SPR. pat (198-1b, sk.) een Lard, prime steam spt (Ib) ... Coffee, Rio 7s spt. (Ib.) ....ceu0 raw 96 test
Today 8 1.25% mn
) Seana
Week Ago $ 1.33% 1.30% 1.01% 32%
$ 1.05% 93%
Yesterday) Commodities—
Lambs, avg. most sales (Ib) ... Hides, native hvy steers (Ib.).. Wool, fine unwashed comb. (Ib.)
mid-upland Silk, 13-15 deniers Rubber, spt. smk. Copper electrolytic Lead,
fie 1h iis i
i : 13
spot .
Bars
Year Ago 1025 J1% 35% 1316 1.7 06 7-16 0934 J0460 01% A33% 443 13.25 18.84 «
Week Argo 1020 16% 41 A232 1.98% 1890 J4 060214 0862%% 60% 44% 18.50 23.25 4.60 2.25
an) ..... Jap. (b).. rib. db)... MM) oven
ER
A . Pah wen (tom) ..
senesn
) (
if
2.55
i
| Yellow TY
underlying the recovery movement |
Net Last Change Ys
High Stone & Web... 25% Studebaker 'y 13% Superior Off ... 5% Syming-Gould . 18 Sym-Gould xw. 14'% Sunshine Mine. 18%
Low 257%
Transamerica. . Tri-Cont . 20th Cent- Fox . 3 20th Cent-F pf
Un Oil Cal .... Un Pacific .. . Un Aircraft Cp. Un Air Lines ..
United Cp p United Drug .. 12% Un El Coal ... 7% . 143%
33%
ou 17% . 6M 41
H+ ++
PH
Ward Bak (B).. Warner Bros .. Warn-Quin Warren Br .... Wayne Pump.. Wes Oil & 8 . West Auto Sup West Union .... 50
White Sew M pf 3 Wilcox O & G Woolworth Worthington
Young Sheet .... 931
Zenith Rad .... 37°
SAYS U.S. GETS UNFAIR PROFITS
Railway Economist Asserts Land Grants to Carriers Yield Big Returns.
Times Special NEW YORK, July 26.—The land grants made by the Government to the railways many years ago to aid in their developments have been yielding millions of dollars in returns to Federal departments annually within recent years, contrary to the original intention of the laws under which the grants were made. This is the contention of Dr. C. S. Duncan, economist of the Association of American Railways, in an article appearing today in the current issue of Railway Age.
“Approximately $8,000,000 in wavings in rail transportation charges on materials and troops accrued to the Federal Government in 19341935, through the application of land grant rates 50 per cent less than the regular tariff rates,” Dr. Duncan asserts. Of this saving, $3,528,000 was over and above reductions that would have resulted from application to actual conditions of the formula adopted by the courts in 1879 as a basis of determining rates that the railways should be paid by the Government for transportation over the land grant lines, Dr. Duncan declares.
BROKERS’ OPINION
By United Press NEW YORK, July 26.—Brokerage opinion today— E. A. PIERCE & CO.—While some important utility questions remain for decision by the Supreme Court at some later date, the immediate attittude is one of relief over recent developments.
HORNBLOWER & WEEKS—The current move in utilities seems likely to continue and we would look for the rails to also show further participation, following their sidewise movement throughout the greater part of the past week. REDMOND & CO.—Sentiment toward the market seems to be making progressive improvement and, in our opinion, it will be a matter of only a short time before trading expands and the price rise assumes broader proportions. The impressive recovery in the utility group, in particular, is evidence of this improving sentiment.
CHICAGO PRODUCE
EGGS—Market, weak; receipts 14,350 cases; fresh graded firsts, 19%c; extra 20'4c; current 18'4¢; 16%c; checks, storage wpras, 21%c¢; packed Butter—Market, steady: 13, Sos tubs: extra firsts (90-91!2 score 30 extras (92 score), 3lc; firsts, seconds, 24@27'2c: specials, standards, 31c; centralized (88 score), centralized (83 score), 3, Poultry—Market, steady; trucks; geese, 12c¢c; ducks, 11@12c; hens, 19l2c@20c; Leghorn hens, 14c; spring chickens, 21@24c; broilers, 17@22¢c: roosters, 13@l4c, fryers, 18@24c; turkeys, 14@15¢. Cheese—Twins, 16016 4c: 16% @17¢c; longhorns, 163% @17¢c demand, steady. to
a 16%c; storage
receipts,
30c: receipts, 39
daisies,
Potatoes — Subplies, liberal; moderate to good; prt strong: California Whit te Rose, Commercials, $2.30: Idaho Bliss Tri3 rw Missouri Cobblers, $1 @1.20; . 3, 60@65¢c; Kansas CobSle sh 105135 New Jersey Cohiers, aware Oovblers, $1.40; Neiy 1 bie [email protected]; Oregon Bliss Triumphs, $1.70. rack sales, less than carlots; Idaho Russet Burbanks, $2. Arrivals, 197; on track, 208; shipments, Saturday, 491; Sunday, 52.
Cotton Gains
PRICE OF COTTON JULY EACH YEAR )
\ ¢
CENTS PER POUND "3
Be
+ 125
"THE PARKER CORP GENERAL DISTRIBUTORS INCORPORATED INVESTORS
BOSTON, July 26.—Cotton is most unique among agricultural products. Once harvested it is practically indestrustible by either time or insect. One can borrow money on it or turn it into cash at any time. Although the price of cotton is somewhat less than a year ago,
ES
LE" §
HEAVIER HOGS GAIN 30 GENTS IN LOCAL TRADE
Meager Lamb Receipts Send Prices Up 50 Cents.
A sharp rally in prices for heavy hogs tended to narrow the unusually wide spread that has been prevalent in the market for the past
few weeks, according to the Bureau of Agricultural Economics, United States Department of Agriculture. While weights below 210 pounds were just steady as compared with last week’s close, advances of a much as 30 cents were registered on weights above 285 pounds. The top of $13 was paid for 200-225-pound animals. Today's cattle run included little in the steer and yearling line. There were odd head yearling steers at $15.50 and a package of mixed steers and heifers at $14. Most steer sales, however, ranged downward from $13, prices being steady to strong. Heifers sold readily at strong to 25 cents higher prices. Cows were steady to strong. Heifers sold readily at strong to 25 cents higher. Cows were steady to strong, bulk beef cows moving at [email protected], with good cows to $8.25. In an active trade, vealers’ held to generally steady levels. Good to choice offerings moved from $10 to $10.50, with mediums from $8.50 to $9 and cull and common sorts $6.50 to $8. Continued meager lamb receipts worked prices upward 50 to 75 cents today. Good to choice ewe and wether offerings ranged from $10.50 to $11, mediums from $9 to $10, while common throwouts sold as low as $8.
rd Q
tft Pk fk pd dk pk
Bul Receipts $12.45@ a. 2 800
o202©v®ay 333383337
Light Lights— t140- 160) Sood and choice. ed
Lightwelghts 160-180) Good and ium
$11, $812 2
choice... 12.50@12.% 11.75@12. » . [email protected] [email protected] Medium Werte un (200-220) Good and (220-250) Good and Hens over hts— (250-290) Good (290-350) Good Packing Sows— (275-350) Good (350-425) Good (425-450) Good (345. S00) Medium ..... Slaughter Pigs— (100-180) y Good and choice. .
choice. choice.
—Receipts, 50—
(500-900) Choice . G
3)
C (900-1100) G
C (1100-1300) Gi
SJdggavavabon oon
£35 Oh IDR.) © 185 Sages Nanaa OOOO UONONOD GINO OoUMOOoOUTL
ORSRE0000
oh fh dh ft fh pk fh pd od fod pk
M (1350-1500) Good
(550-750) 0
wo
C Sood and choice™
(750-900) Common, rg Cow!
Fh et pt
Cutter,
Good and Medium Cull and common
com. eis sens vn Vealers choice
— PDD NIVRND On OMA
Sum SIND Ibo 3 8328 FaNE3H FRI
-J 835 £89588 £0298
—Receipts, 50— Steers
(250- -500) Good and choice..$ 9.00 Common, medium. 6.50 Feeder and Stocker Cattle
Stee (500-800) gos and chotce. .$ 7.50 on, medium. 6.25 (800-1050) Good and choice.. [email protected] Common, medium. 6.25@ 7.50 Heifers—
Good and choice....... . ha 8.50 Common and medium 6.0@ 7.00 SHEEP AND LAMBS ~—Receipts, 50— Spring Lambs— oice .
11.00 9.00
9.50 7.50
(90-178) Soe and choice. . Common, medium.
By United Press
CHICACO, July 26.—Hogs—-Receipts, 335 - 000, including 3500 rects; good choice hogs, steady », Rig higher:
13 10 n Senest sin ulk, 180- 3 1bs., $ . $12. 60@ pe, (Dutche ers,
., [email protected]; acking 39% $10.35@11. 10; ei, 11.15@
5 Cattle—Receipts, 8000; calves, 1500; fairly active on fed steers and yearlings; 25¢ higher; little beef, grassy and short fed offerings in Jay broad demand; all steers at new crop hi 7 paid for 1281 Ibs.; Jost sarin S, 16. Ri COWS, $7.50; cutters, BAA "Ls ow ulls, own: A jects. $11; stockers and feeders, “$6. 50@
Sheep—Receipts, 7000, including 5600 directs; spring lambs, active; steady io strong; good to choice natives, 11.25; choice yearlin Sy 5 ewes, quotable, $5@5. down.
sheep, heavies, $4. 25 Hogs—Market,
PE ial $12.80@ 50-2
LAFA ly steady to 40c hi her’ 200. 225 1bs., 12.90; y 5 $12.60@ 12.70;
s., $10.50@11; roughs, —3$9.50@10. Lambs—$9@10 FT. WAYNE, July 26. —Ho So: steady to 20c higher: 200-225 Ibs 180-2 1bs., $12. oa: 225-250 oor ™
) 1bs., 1bs. ughs, rls $10. oo: Minn $9.25 Calves—$10.50.
LOCAL PRODUCE
(The prices quoted are paid for stock gathered in the country, while for delive eries in Indianapolis the prices are 1 cent higher. Each = 3 case of eggs must weigh
55 unds a Bogs No. i Srictly fresh, loss o , 17c 0z. Heavy breed hens, 5 Sa: and over, 16¢; Leghorn hens, llc; heav 19 ock, 2 Ibs. Diotlere. 1937 stoc bs. bareback broilers, 1937 stock, 2 lbs. old roosters, 9c; ducks, and fat, 5 Ibs. and over, 3 full-feathered and fat, 9 to 14
Butter—Creamery, No. 1, 35% @36'%ec; No. 2, ys GIS Butterfat—No. 1, 30c;
0. 3,
U. S. STATEMENT
' WASHINGTON, July 26. — Government expenses and recei or the current fiscal year phe. July 233, compared with r ago:
a yea Exe Lh nses y 222,757,194.47 1687.55
Receipts Deficit 197,221,251. 75.259, Cash Bal . 2, 594. 186,624. it 2.349,132.539.74 Work. Bal. 907.260.707.23 1.891,261.600.14 Pub. Debt 36,661.168.699.55 33,481,007.093.23 Gold =. 12, 20 ,034,262.59 10, 634.705,476.78 23.324.535.69
Custo > ’ Todays Purch. Total Purch. Inactive Gold fs 449.85 $1,188,626,978.83
eese,
RW
TIE
B
New York Bonds
By Unitea Press
BOND PRICE INDEXES
20 20 20 Indus. Rails. Util
Saturday, ...... 91.3 908.5 10L% Week ago 51.6 934 101.0 Month ago 90.9 915 99.6 Year ago 81.3 95.0 106.0 Two years ago.. 89.0 8.3 100.0 1937 high 85.0 101.2 106.0 1937 low 93.8 90.1 90.3 1936 high ...... 948 100.4 106.2 1936 low ....... 90.0 84.7 103.5 1935 high ...... 91.4 864 103.6 93.1 1935 low 83.6 1.0 89.3 83.0 Copyright, Standard Statistics Co.)
60 Bonds.
95.5 95.3 94.0 274 80.1 100.7 93.4 100.2 93.3
193%,
U. 8. GOVERNMENT BONDS Treasury Bonds
High Low 106.10 108. is
Last 106.15 103.8
60- 55 reg 101.4 Federal Land Bank Bonds ask . ld 1955-45 “ears 101%, 2.83 ‘a 2.84 2.85 2.85 2.45
36 1.04
101.4
3s 3s 33 M 3Vas 4s 4s 4s 4V,s "“ 4s . 1958-38 Home Owners Loan Bonds 1949-39 101.5
DOMESTIC BONDS
2%s 101.5
Last 99, 11253 983s Atl Coast L ) 3%a 10312 B&O 4's 60 70 70 Bell T Pa 5s C 60 § 120% Beth Stl 4%s 60 1041, Can Pac deo 4s perp “xis 939; Cen Pac 5s 6 v8?! ChMStP&p 243, 8!
0 “e Fairbanks M % 56 Gen M Ac 3s 4 Goodrich “6s 45 . Soy rE 5s 57. Ge 4s H 36 » . m Cen 4%s 66 . El 6
Rep Stl C 4'2s 50. . Shell Un oil 315s 51.
Yng S&T 3's 51 FOREIGN BONDS Argent 4s 71 Brazil 6'2s 26-57 Canada 4s 60 Japan 6l2s 54 Peru 6s 60
LOCAL ISSUES
The followin quotations do not repreFeu acvual v ids or Sh erings, eae merely approximate marke furnished by he brokers named. SVS = (By Indianapolis Bond & Share Corp.)
BONDS Bid
gh Ind Tel (TH) 4's 61....100 H Tel & Tel Ft W 5's 55.....103% H Tel & Tel Ft W 6s 43.......104% H Tel & Tel Ft 7 « B0Ya 5 04
Indiana_Tel Co 5s 60.... ndpls Railway Ins 5s 67 ndpls Water Co 3V
Ask 02
FH Pores Works 55 56. rere, [ H Water Works 6s 49.......103 [rae Term C0 58 87 «..vvever
STOCKS
Belt Rallroad St Yds cum.... Belt Railroad & , Yas pfd.. s
Ind Gen Serv Co Be id 2 Ind Hydro Elec Co 7s . Indpls Pwr & Lt Co pfd 6s.. Indpls Pwr & Lt Oo ig 52s. . Indpls Water Co pfd Lincoln Natl Life Ins So com. N Ind Pub Serv pt 7 ‘er N Ind Pub Serv Co pfd 6s .. N Ind Pub Serv pfd 5izs ...... P R Mallory Co com (mew). “ee Progress Laundry Co .
BNO BROWN NODOND
Van Camp Milk Co fd Van Camp Milk Co Bi
By M. P. Crist & Co.)
Market St. Investing Corp. ... 35.36 37.60
NEW BOND ISSUES
(By W. L. Lyons & Co. a
AY City 3%s '64.. & O 4'%s a FP Dery, rE Sens. 5s ot Cal Or Celotex 4's Yer Cent Maine Pwr ’60 Cent Maine Pwr Se "66 Cin G & E 3%s ’6 CM O 2%s '4
Safeway Stores : Simmons 4s '52. Sou Kraft 4%s Union Elec
al Chemical Bank & Trust Guaranty rust Irving Trus
xNational City 475 Continental Ill. Natl., Shicage- 14614 First National Bank, Boston . SZ) National Shawmut, Boston “en 31% National City, Cleveland ...... 31
Fire Insurance
nklin Great meriean Hanover “era serv seranaaTI Lv Nationa Fire «osvevunngervnes i North River ... Phoenix .. J. 8S. Fire Westchester
et Companies
ontinental oy Mass. Bond! .e xEx di Videna
. 27% . 64%
POPULATION ESTIMATE VPASHINGTON, July 26.—Popu-
ation of the United States in the
next two decades will increase about 5,000,000, the Deparment of Agriculture estimates. From then on & declining population but a more healthful nation is predicted.
4 "|
WHEAT FUTURES DROP 2 GENTS: CORN FOLLOWS
Weakness in Foreign Mar=« kets Breaks Grain Prices In Chicago.
By United Press CHICAGO, July 26.—Pronounced weakness of Liverpool, Kansas City and Winnipeg broke wheat prices more than 2 cents a bushel on the Chicago Board of Trade today. At the end of the first hour wheat was 23% to 2% cents lower. Corn was 13%. to 3% cents lower, and oats were 1% to 2's cents lower. Kansas City corn broke sharply and the break in the secondary grain brought a sharp downturn in Chicago wheat when the Chicago corn pit turned bearish. Commis= sion houses were heavy sellers in the liquidating wheat movement. Hedging pressure was a further depressing . factor in the absence of supporting purchases. Wheat ree ceipts were 1080 cars. Corn in Kansas City for September delivery was off the 4-cent limit and December off 3 cents. Liquidation in Chicago based almost en=tirely on the softness in Kansas City. Corn receipts were 83 cars.
WAGON WHEAT
g CIF grain elevators are paying for No, 2 red, $1.07; other grades on their merits. Cash corn, new No. 2 yellow, $1.06. Oats, 2c. Hay—No. 1 timothy, [email protected].
WINNIPEG WHEAT
qr Change —10
July reer-SL50 1.43%
December .....
December ar 1.32%
ARGENTINE GRAIN
BUENOS AIRES, July 26.—Grain feae tures opened irregularly oF heat—Au, ust, $1.26 off lic; Seppe tember. $1. oft 340. Corn—August, 53c, off Yac. BS 56¢, off Ygc. Oats —Spot, 293e¢, unchanged. Flax-——August, $1,355. unchanged; September, $1.36, une changed.
GERMAN WHEAT CROP DEFICIENT
By United Press CHICAGO, July 26.—A dispatch from London reported that Gere many will show a 3,000,000-ton defi= ciency when the 1937 grain harvest is in. It was reported that stocks of cattle feed have been exhausted ine asmuch as river plate maize has been purchased in considerable vol= ume of late. In October, 1936, the dispatch said, Hitler told the German people that a 20 per cent drop in the crop yield would spell disaster, Today it is indicated that the wheat crop is 15 per cent, or more, below the necessary requirements.
‘BEER SALES UP By United Press NEW YORK, July 26.—Beer sales in June totaled 6,004,141 barrels, an increase of 7 per cent over the 5,600,070 barrels recorded in the 1936 period, the United States Brewers’ Association reported. The figure was 16'2 per cent over the May total. Production totaled 6,436,501 bare rels, up 6 per cent over the 6,060,~ 650 barrel output last June and 14 per cent over May.
PIANO SALES UP
CHICAGO, July 26.—Apparently there are still plenty of American music lovers who prefer to proquce their own music rather than rely entirely on victrola, radio and theater. Reports show piano ship= ments of 49,595 units for the six months ending June 30, highest for any comparable period in the past 15 years.
FOREIGN EXCHANGE
NEW YORK, July 26.—Foreign exe change opening higher. Cable Net
Change
Rates England (pound) .. 4.97% -+.00 13-18
England Te bill .« 49 Canada * Soller) ve France (franc) .... Italy (lire) Belgium (belga) Germany (mark) . Switzerland (franc) (guilder).. (peseta) Sweden (krona) Norway (krone) ... Denmark (krone) . Japan (yen)
FOOD PRICES
CHICAGO, July 26.—Sweet Potatoes Na bushel baskets, $1.50. Carrots— Illinois, bunches, 12@2%c Spinach— Illinois, bushel, $1. ome ashinge ton, lugs, [email protected]. a aRver-— Washing ton, crates, [email protected]. Peas—Washinge ton, hampers, $22.10. Celery—Michigan, flat crates, 50@65c. Onions (50-1b. sacks) —Towa, yellows, 82% @87%c; Washington, Valencias, 95c.
MONEY MARKET
YORK, July 26. 5 Money rates ree nd unchanged toda nker’s Acceptances - 30 days, -@ 7-16%; 60 and days, Y%@7-16%:; 123 iw 8-16@% %: 150 and 180 days. 3% @
Commercial Paper—Prime names, 1%. Time Money—60 and 90 days, 1%%: 120, 150 and 160 days, 12%. Rediscount rate at New York. 1%%.
ON SAVINGS
NIN OHIO
ASSETS INCREASED
CONTINUED AND INCREASED PROGRESS DURING FIRST SIX MONTHS OF 1937
Insurance in Force increased ......... Making TOTAL INSURANCE IN FORCE, paid basis. 103,598,741.00 960
Making TOTAL ADMITTED ASSETS .........0o.o. A Policy to Meet Every Life Insurance Need.
Indianapolis Life Insurance Company A Qualtty, Legal Reserve ve Mutusl Company
eraenaenaved 3,831,612.00
,745.09 19,610,232.31