Indianapolis Times, Indianapolis, Marion County, 28 July 1937 — Page 17

Page PDF (11.80 MB)

Back to issue view

WEDNESDAY, JULY 28, 1987

COMPLETE N. Y. EXCHANGE

STOCKS w

STOCKS RECOVER

IN LIGHT

AS BONDS DECLINE

U. S. Steel Raturns To Previous Close.

By United Press NEW YORK, July 28. — Stocks rallied today after an irregular decline. Volume continued small. United States Seel, which touched

TRADING

4 » | MARKETS AT A

GLANCE

Stocks irregular in dull trading. Bonds irregularly lower; U, S. Government issues mixed. Curb stocks fractionally lower and quiet. Chicago stocks lower in quiet trading. Call money 1 per cent. Foreign exchange lower. Cotton futures off 75 cents a bale. Grains irregularly lower at Chi-

115%, off 13%, came back to around the previous close. The corporation's report for the second quarter was better than expected, but traders took its publication as an opportunity to realize profits. Bethlehem Steel rallied after touching 93, off 11; General Motors recovered its poise after a decline of 1% point to 55 on a poorer than anticipated earnings report. Chrysler came back to a small gain from a loss of a point. Aviation issues were strong, with gains of a point or more in Douglas, Boeing and United Aircraft. Store and sugar shares retained yesterday’s gains. Oils were mixed. Loew's equaled its high at 84'2, up 212. Coppers were about steady. Utilities were firm. Rails were mixed. Domestic corporation bonds declined fractions to a point in quet dealings today, while mixed tendencies developed in U. S. Government liens and foreign funds.

FIRST HOUR

The market opened lower led by General Motors. U. S. Steel had 1; loss at 1163, Youngstown Sheet & Tube 1; loss at 603. and Bethlehem Steel 3; loss at 93%. Each had been more than a point lower. Aircraft shares were strong, United gaining 1% to 301, and Douglas 1% to 591%. Loew's turned active to gain 215 to 841%, but other amusement issues were quiet. Rails were easier and utilities fairly steady. Volume approximated 210,000 shares compared with 190,000 in the first hour yesterday. Dow-Jones averages: Industrial 183.79, .off 45; rail 54.26, off .14; utility 30.21, off .11.

SECOND HOUR

The market remained steady in dull trading. Some utilities improved. Electric Power & Light was a point higher at 23%. Consolidated Edison had 3: gain at 39%. Boeing joined the aircraft issues in advancing ,showing 1% gain at 35. Loew's maintained more than ?? points gain. U. S. Steel rallied to 1163 for only *: loss. Chrysler was !4 higher at 113%, while General Motors had % loss at 55%. Westinghouse broke 13, to 152%. Volume approximated 140,000 shares compared with 120,000 in the second hour yesterday... Dow-Jones averages: Industrial 183.7%, off .47; railroad 54.23, off .17; utility 30. 39, up 07.

Today's Business At a Glance

GENERAL BUSINESS American Bureau of Metal Statistics, reports June receipts of lead in ore and scrap by U. S. Smelters 47,645 tons vs. 43,688 in May and 37,218 year ago. American Petroleum Institute, week ended July 24 reports new high record in crude oil production, averaging 3,576,400 bbls. daily vs. 3,557,950 bbis. preceding week vs. 3,573,500 bbls. daily on May 29 previous peak; gasoline stocks decreased to 72,020,000 bbls. from 175,526,000 previous week and refinery operations were at 84.7 per cent, off one point from preceding week. Edison Electric Institute, week ended July 24 output 2,258,776,000 kwh vs. 2298005000 kwh preceding week and 2,099,712,000 kwh year ago. Iron Age estimates week's steel production rate at 85 per cent compared with 82 per cent a week ago. CORPORATION REPORTS Allis Chalmers Mfg. Co., second quarter June net profit $2,636,850 or $149 a share vs. $1,504,897 or 85 cents preceding quarter and $1,334,473 or 99 cents year ago; six months ‘net profit $4,141,748 or $2.34 a share vs. $2,088,600 or $1.55 yéar ago. Barnsdall Oil Co. and subsidiaries, first six months net profit $1,256,330 or 56 cents a share vs. $1,209,894 or 54 cents year ago; June quarter net profit $665,175 or 30 cents a share vs. $591,155 or 26 cents preceding quarter and $738,851 or 33 cents year

reports

ago. Bridgeport Brass Co. first half net profit $759,708 or 82 cents a share vs, $384,354 or 59 cents year ago; June quarter net profit $349,295 or 37 cents a share vs. $410,413 or 55 cents preceding quarter and $180,011 or 29 cents year ago. Consolidated Chemical Industries, Inc., second quarter net profit $317,147 or 99 cents a share vs. $360,186 or $1.13 preceding quarter and $136,333 or 43 cents a share year ago; six months net profit $677,333 or $2.12 a share vs. $243,221 or 76 cents | a share year ago. Edison Stores, Ine. six months! ended June 30 net profit $581,510 vs. | $416,704 year ago. Evans Products Co. and subsid-| iaries, second quarter net profit $57,- | 868 or 23 cents a share vs. $122,552 or 50 cents preceding quarter and . $21,538 or 9 cents year ago; six{ months net $180,420 or 73 cents a share vs. $277,455 or $1.13 year ago. Gabriel Co. and subsidiaries, six; month profit $8130 vs. loss $25,161 year ago; June quarter loss $2052 | vs. profit $10,182 preceding quarter and loss $17,139 year ago. y Heruations] Silver Co. and subsidiary, second quarter net $165,404 or 67 cents a share a

, hois,

40@60c. On BE ‘Towa yelows, 97%c; Cali orhia

cago; corn off ¥% to 1%c a bushel. Rubber futures higher. Silver unchanged in New York at 443%; cents a fine ounce.

Curb Stocks

By United Press

An Sore . .- App Ei Pwr pt .- k N Ga i Silver Barium Stl .. Brill Cp pt Carrier Corp . CICS NDBLY vu vv vwrvveen Cities Serv ot crrssrrnne Con Cop Mn . Cord Corp

caves 105% “.w. 8

Humble Oil .. imp O Can..... Iron Fireman ....cuee. Jones & Lau Stl....e... 1 Lion Oil Lockheed Air -e McWms Dredgs ....o0ne Molybdenum ... Nat Sug Ref ... Niag H Pwr . Pan Am Air . Pantepec .... Pitts P1 Gl Prudential In .

Std Oil Ohio ... Sunray Oil .... Technicolor . ..

Wright Harg

Chgo Yel Cab....... Dayton Rubber ........ 2 Heilleman Brew .. v

Noblitt-Sparks Raytheon oe . Stan Dredgi

TORY © HIS eerie

728 or 64 cents preceding quarter and net loss $19,388 year ago; six months net income $329,132 or $1.32 a share vs. net loss $189,116 year ago. American Ice Co., June quarter consolidated profit $196,682 vs. loss $210,574 preceding quarter and $114903 year ago; six months’ loss $13,892 vs. $311,391 year ago. Hupp Motor Car Corp. June quarter consolidated net loss $212,241 vs. $1377725 year ago; six months net loss $349,966 vs. $479,551 year ago. Marshall Field & Co., six months net profit $1,268,746, best since 1929, vs. $30457 year ago; June quarter net $655,734 vs. $124,989 year ago. Niagara Share Corp. of Maryland, net assets June 30 equal to $17.72 a Class “B” common share vs. $22.59 on Dec. 31 and $16.64 year ago.

DIVIDENDS

Grand Union com., 50 cents on $3 convertible preference payable Sept. 1 record Aug. 10 vs. like amount on June 1. National Lead Co. regular quarterly 12': cents on common payable Sept. 30 record Sept. 10; also regular quarterly $1.75 on Class “A’ preferred payable Sept. 15 record Aug. 27, and $1.50 on Class “B” preferred payable Nov. 1 record Oct. 14. Remington Rand, Inc. interim 35 cents or. common payable Oct. 1 record Sept. 9 vs. 25 cents interim on July 1. : United Engineering & Foundry Co., 50 cents a common share payable Aug. 17 record Aug. 7 vs. like amount previous quarter. Borden Co., regular quarterly 40 cents a common share payable Sept. 1 record August 14. Chicago Mail Order Co. regular quarterly 3712 cents on common payable Sept. 1 record Aug. 10. Congoleum-Nairn, Inc. regular quarterly 50 cents on common payable Sept. 15 record Sept. 1. Illinois Zinc Co. interim 50 cents payable Aug. 31 record Aug. 20 vs. 25 cents on June 25. S. S. Kresge Co. 30 cents on common payable Sept. 15 record Aug. 30 vs. like amount on June 12. (Copyright, 1937, by United Press)

The Times Financial and Market Page =

LATEST NEW YORK STOCKS

Water Woolen Anaconda

High Low Last of

wal wy . 59 | 18% 5

rm Cor : All Refining...

Atlas Corp

Borden Jorg-war

Butler Br

sve A5% wen

3ald Loco ..... © 3alt & Ohio ... 3arnsdall ... 25%

ner

3dgept Brass ..

os pf..

Cal Packin

Callahan

ne..

Carriers & Gen.

Celanese Cerre & Ches & Chrysler

Pasco. T4

Ohio .. 1127

um Gas Col Pictures vic 2910

Com Inv

Com Solvents

. 65%

Tr .. . 15%

Commonw & So, Cons Edison Cons Edison pf 103% Oil 16

Cons

Cont Oil

Del ..

Crown Cork .... 83 Crown Zeller .. 1

Curtiss Wr .... Curtiss Wr A..

Del & Hud ..... Dist Seag

Du Pont

East R

Mill....

Ya «20%

37% 37s . 23% 23% 162% 162 wf

12% 12% 80

Equit Bldg ....

Fe Firestone Flintkote

Follansbee Va Food Mach ...

Gen Am

Fair Morse d Mot

. 58% 58% T% 3% “ev 32% 32% . 3, 30% 514 521%;

. 5314 1 wd. 13% 13% 3

nv...

Goose Paige North pf..

Gt West Sug .. Greyhound Cp . 16 Guant Sug ....

BANK STOCKS

(By Blythe & Co., Inc.)

Bankers Trust Central Hanover . Chase Nationa

Chemical Guaranty

ona & Trust. Hr . 62% Trust .324

Irving Trust . Manufacturers Trust National City Continental 1h Natl Chicago. . First National Bk Bosto National Shawmut Boston National City Cleveland ..

Aetna Fire

Fire Insurance

City of New York ea Tn

Hartford ..

Home .. National

"Fire

North River ... :

U.S. Fire ..... Westchester

Continental Casua Mass. Bonding Xe A ivante.

Gatvaly hpi 85%

CHICAGO PRODUCE

DOW-JONES STOCK AVERAGES

30 INDUSTRIALS Yesterday ......ccovveeeeaee 184.24 Week AE0 ......oteavsssenss 182.35 Month 880 ........ceeeesees 169.32 Year ago 165.67 High, 1937, 194.40; low, High, 1936, 184.90; low, 143.11. 20 RAILROADS Yesterday .... Week ago .... Month ago 51.35 Year ARO ...... var Eres 58.51 High, 1937, 64. 1; low, 50.1%. High, 1936, 59.89; low, 40.66.

-0.18 -0.97 +2.21 -1.34

54.40 54.70

Presteste eran sressssvensnee

cessetauintesgen

Yesterday Week REO «ccrvresrasreniess Month a0 ...ccevnrvvvanrss Year ago .. High, 198%, 37.54; High, 1936, 36.08:

29.13 26.31 85.14 25.45. 28.63.

low, low,

Yesterday Week ago ...... Month ago ... Year ago High, 1937, 69.67; low, 57.5%. High, 1936, 66.38; low, 51.20.

Net High Low Last Change

Hall Print .. 15 = . 30%, 45

455%, 22% 18 4

Intertype

Kelsey-Hayes B Kennecott ..... Rv tone tu a. Kimberly ore 81 Kresge D i 11% Kresge SS8...... 24% wl 19% 25% 25% 82 82 2 2 T% T% 21% 2% lo 487% 109% 265s 1812 37% 19% 32% 40% 14

Lorillard

Macy RH .. Marine Mid . Marshall Fld ...

1% 40%

WHEAT EXPORT MARKET GAINS

Kansas City Ships Three Million Bushels in Last Ten Days.

By United Press KANSAS CITY, July 28.-—The United States’ wheat export market, which in the past few years has dwindled to an alarming degree, shows signs of renewed interest, according to dealers on the Kansas City Board of Trade. "In the past 10 days, it was esti-

mated that between 3,000,000 and 5,000,000 bushels of wheat were sold

Norwalk T

Ohio Oil Otis Elev

Pac G & El .... Packard Ves Paramt Pict Para Pict 2 pI. Pathe Film v

llman Pure Oil

23 Reyn Met rts. 17.33 Safeway StL S 3% . 43% So “Afr L 1% Lp Roebuck. hy Sharp & Db chin fy Snider Pkg ... Dh ocony-Vacut So Am Gol m 21% Cal Ed South Pac South Ry

Trans & Wa . 15% Union Carb ...101% Un Air Lines .. 17% United Corp ... 6 Un El Coal United Fruit Un Gas

PR LA...

Va-Caro Ch

Wabash ‘vee Wabash pf A Waldorf Rs alworth Cewn Warner Bros Warren Br Wayne Pu West Auto

eg Worthington ...

Yale & T 24 Young Sheet .. 90 wen 35% Ts 5%

Zenlth Rad .... Zonit

By W. L. Lyons Atl LSB aus ‘64 B '39

Calif Oro Pwr 4s Celotex 4lbs '7

Indpls Water 3'2s '66 Los Angeles Rev 3'as '77 Nae lec 3las '66 N- XY City 3s 17

N Y Tel 3} . Northern ee P 3s ‘67... Okla G & E 4s '46

Okla Sas’ & E Inc 3%s '66. Pac Lighting 4'2s ‘45 Safeway Stores 4s "49. Simmons 4s '52 Sou Kraft 41s Union Elec 3% 4n

36%,

Last 1

4% 28a + 1134 29 a 4%

20 41

onange

“vy va

FEE I+ PH 444

+141]

BEN

+: 1!

2414 90 63%

a % +

& Co.

B ¥ ae *Sons Ss yi

Cent Maine Pwr 4s '60 ... Cent Maine i ‘68. -

Houston Lt & Power 31as 66.

N Y State Elec Gas’ 4s 65.

Eggs-—Market, steady; receipts, 11.687 cases; fresh graded firsts, 190 extra firsts, 20%c; current receipts, 18%c, cirties, 1634c: checks, 18Yc; storage-packed firsts, 20%50; storage-packed extras, 21lac.

to foreign buyers by Kansas City dealers. The largest single shipment was

Union Elec 3s Wise G Wisc Pub Svc 4

& E 314s '68 .

s '61

LOCAL ISSUES

Butter—M extra firsts

tubs; extras (9 seconds, standards

cehtralizeq (89 score),

try trucks: g 20'z2@21c; chickens, roosters, 14@15c.

Cheese— Twins, 1612@16%c: daisies, 17% elie: longhorns, 17% @11%e.

Burbanks, 1.30; “Kan, $1.1

Delaware

blers, $1.30@1. Arrivals, 389.

Market, steady: reecipts, 14, 612 (90-9112 score), 2 score), 3lc; firsts, 24@27%%c; specia als, . S1C; Serialized (88 score), 30c.

geosipts. 49 hens,

— Market, fiom: eese, 12c; ducks, 11@ Le horn hens, 1ter 24%,c; broilers, 17@22c; Bete fryers, 18@24c; turkeys.

upplies, moderate; demand,

t, weak to strong: California @2.50; Idaho Bliss Triaho Russet BurRusset

2.35: Washington $2. So: Missouri Sg lers, sas Cobblers, U. aryland Cobbiers, oS yolers,

$1.25@ Com rojas, $1.40@1.

35. 74: on track, 232; shi)ments,

MONEY Ha

oe 0-18@ 10%: 150 and 180 days.

oe - 30 90 days, aT 16%:

Commercial Panes... prime names, 1

150 and 160 days, 12%.

%. ays, 1%: 120 Rediscount rate

oney—60 and 90

at New York, 1%:%.

'§ ring

$1.50; Nebras a Gob:

b> @ 129 %@

The

See Later Editions of

For Final Stock Quotations

Indianapolis Times

reported to total 350,000 bushels and was consigned to a buyer in ‘| England, according to Kansas City dealers. The wheat was shipped from a gulf port. It was also reported that another cargo of approximately the same amount was being prepared for shipment to a British buyer. Dealers in Kansas City said that the United States has about the only available wheat supply at this time. Depleted stores in foreign countries and the world's lowest prices were considered important factors in re-establishing the export business. Canada will likely be a large exporter this year, it is said, because of the reduced crop prospects. For the past three years there has been virtually no export trade in wheat, it was said. No. 2 hard wheat brings about $1.27 a bushel from the vessel in Europe, dealers said.

U. S. STATEMENT

SHINGTON, July 28. — Government AL and receipts Yor the current fiscal year through July 26, compared with a

year ago: Last Yea

Bpenses $ 33. 348, 758. 06

8 521 187,86: 865. nm 239,971,766.81 Receipts 341 : "986.

1,792,785. 33

Customs ..

Today Purchase tal Purchase Inactive Gold $7,991,024.20

5 Jer. 023,052.95

PRICE INDEX AND COMMODITY QUOTATIONS

DAILY PRICE INDEX

NEW YORK, July 28.—Dun & Bradstreet’s daily weighted price index of 30 basic commodities, compiled for United Press (1930-1932 average equals 100): Yesterday .........140.71 | Year ago

Week ago ........144.50 | 1937 high (April 5) 158.26 Month ago ........14549 | 1937 low (July 26) 140.63

Follo daily price Commodities— Wheat, No. 2 red (bu.) ...eevee Corn, No. 2 vellow (bu.) ...... Rye, No. 2 (bu.) Oats, No. 2 white (bu.) i Flour, spg. pat (196-1b. sk.) ... | Lard, prime steam spt (Ib.) vee Coffee, Rio 7s spt (Ib.) Sugar. raw 96 test (Ib.) ...... Butter, 92 score (Ib.) ... Hogs, avg. most sales (Ib.) .... Steers, avg. most sales (Ib.)....

Today $ 1.22% 1.03% R634 S14 1.85 1185 0914 0345 31g J1250 0630

cssssee

are the commodity prices used in compiling the

Week Ago $ 1.27 1.23% .93 37 8.25 1208 09% 0342 31% 1220 0610

Commodities—

Cotton mid-upland Silk, 13-15 deniers Rubber, spt. smk. Copper electrolytic Lead. spot (Ib) Zine spot (Ib.)

Year Ago

$ 111% 90% 8434 40 7.325 1135 08 .0365 34% 11.30 0630

nelsville: Coke.

Lambs, avg. most sales (Ib.) Hides, native hvy steers (Ib.).. Wool, fine unwashed comb. (Ib.)

“essere sennere

Tin, straits spot (Ib.) Silver, comml Bars (ox.) Steel, scrap Chi. (ton) Pig iron, Iron Age com (tom).. Coke. Connelsyille (ton) Cement, dom. Portland bh.) . Yellow pine, 6-in. base (m ft.).. Douglas fir rough (m. ft.) Gasoline, tank wagon (gal)... Crude oil, 40 gravity (bblL).... Sources of Quotes—Chicago: Grains, livestock, scrap and hides. Boston: Wool. East St. Louis: Zine. ConTulsa: Crude oil.

Year Ago 1010 11% 35% .1280 1.77% 161% 0934 0460 0490 43% 443; 18.75 18.84 3.50 2.55 50.00 092 88.00 1.18

lard, steel

Week Ago 1025 J7%% 41 A217 1.98 1867 J4 060215 .0662% .60 44% 17.75 23.25 4.25 2.25 60.00 095 52.50 1.27

Today “ey Jad110 JA8 41 (Ib. A157 Jap. (Ib.).. rib. db.)... ab) eevee

sessesssnee ssengene conn

1.2%

New York: All others.

FOOD PRICES

CHICAGO, July 28.—Sweet Potatoes— Alabama, bu. bskts., 3-5. Carrots—IlliDunches:s Sem

3 2 ‘i + Rois, bu., SA

1.7 Coates, $1. Soa 65. pers, [email protected]

crates, ) whites, 85¢.

WASTE

-PAPER

AMERICAN PAPER STOCK COMPANY

320-330 W. Michigan St.

We Wish to Announce That

Is Now Associated With Our Company

The Jollowing sent actual bids

BONDS

Indpls Water Co 3%s 66. .

T H Water Works 53 56... T H Water Works 6s 49. Trac Term Co $s 57 ..... TOCK Belt Railroad St Yds cum.

xCent Ind Power

0 Ind Gen Serv Co 6s Indpls Pwr & Lt Co

nfd Indpls Pwr & Lt Co pfd 50 Indpls Water Co pfd 5s

Progress Laundry . Pub Serv Co of Yao bs iis

Van Camp Milk Co pid. . Van Camp Milk Co com

Market St.

exchange lower. En ale (dollar) .. ]

Holland Spain (pesetai Sweden (krona). Norway (krone) .. Denmark (krone)... Japan (yen)

BEMIS LETTER SERVICE

Interstate Tel & Tel 5s 53..

315 Merchants Bank Bldg

Bid )0 3Ya 41 0%,

09 7

—

ooo n

sees

Belt Railroad & o hs pd.

Ind Hydro Elec Co 7s ........

Linton Nat] Life Co com.

By M. P. Crist & Co.) Investing Corp...

35.19

—.0001

NEW BOND ISSUES

quotations do not repreor offerings, indicate the approximate market level as furnished by the brokers named.

(By Indianapolis Bond & Share Corp.)

but merely

37.43 FOREIGN EXCHANGE NEW YORK, July 28.—Opening foreign d Cable Rates Net or Eng. (ans! bill rate) ioe 1 99 31- 32

18°

= Tis

TYPEWRITTEN LETTER: AUTOMATICALLY TYPRC ADDRESSING & MAILING MULTIGRAPHING STENCILS CUY MIMEOGRAPH ING RULED FORME UP TO 14° X 20" TWO NOTARN x:

LI-6122

HOGS DECLINE 10 TO 30 CENTS IN LOCAL TRADE

Vealer Prices Advance 50 Cents as Lambs Firm.

A very limited hog run failed to attract support and prices declined, according to the Bureau of Agricultural ET7conomics, U. S. Depart ment of Agriculture. The downward trend was uneven, measuring 10 to 30 cents on weights above 260 pounds. Lesser weights showed the greatest loss. Top was $12.90 on choice 200 to 210-pound weights. Sows lost 25 cents bulking at $10 to $11.25. Strictly grain-fed steers and yearlings sold steady to easy today, but grassers ranged unevenly steady to 25 cents lower. Heifers also dipped 25 cents on the cheaper priced kinds, while eve nthe few good and choice offerings available were sticky. Cows enjoyed a fairly active outlet and ruled steady. Bulls also were unchanged. Short-feds and grassers were taken at $9 to $13. Best heifers turned at $13.75. Common and medium beef cows brought $5.50 to $6.50, with good grade kinds $6.75 to $8.25. Cutter grades had a spread of $3.75 to $5.25. A 50-cent rise in vealer prices brought levels nn this class back to the first part of April. Good to choice vealers rose, $11 to $11.50, with most mediums from $9.50 to $10. Lambs held firmly to the week's advances under continued improve- | N ment in eastern dressed values. Good to choice ewes and wethers bulked at $11 to $11.50, with medium descriptions from $9 to $10. Slaughter ewes were steady at $4 down.

Bulk 65@12, 13.00

July Top Receipts

"lL

Light Li i P0180) eo god and choice. -$11.30@13. 20 um

[email protected] Lightwel hts— Sood arid choice. . 33 40@12. 85 t1g5-160) iu fiat 290

Medium Weig as gins (200-220) Good and (220-250) Seed and Heavyweight (250-290) Good and (290~ A rood and Packing 5° (275-350) Good (350-425) Good (425-450) Good

Slay hter Pigs 100-140) dood a and choice. .

choice. . choice. .

—Receipts, 1000— Choice Good .. Medium . Commons (900-1100) i

(500-900)

RINT DBT SOO NOD ANID DD: — BAB D pt ih LA

IDE 3999 HIND

(1100-1300)

SmNo Ft pt ht ed oo

(1350-1500) G

(550-750)

Good and choice Common, medium

(750-900)

Choice Good

fum Common medium Low cutter and cutter Bulls, good . Cutter, com,

ow NA, - paranxd

Sunes LL OOT

Vealers Good and choice Medium Cull and common ........... Calves wise —Receipts, T700— (350-5 500) Good and choice .$ 9.50 Common, medium 7. Feeder and Stocker Cattle Steers (500-800)

(800-1050)

Heifers— Good and choice . Common and medium SHEEP AND LAMBS -—Receipts, 1000

Spring Lambs— Choice ....... Ciereriieiaees [email protected] . [email protected] “es [email protected] eee 8 9.00 4.00

“Good and choice. 3.50 Common, medium 2.00@ 3.50

\'HICA3O, Julv 28.—Iogs—Receipts, 10,006, including 2000 a Saosuy 10 lower; bulk goo S0WS 10 ood and choice 180- 225 ew sales Chole 170- 210

mmo (90- 17°

steers and $17 paid above $17; medium to good, $15.75; 7 Re r

ealers, selects,

earings steady, 25 cents lower; or t steers; several loads tareefy, oSisae. 50 steer trade; 9.50@13; 886-1b, heifers, bulls, 10 to 15 cents 25 cents higher $11.50; SInaReTS

er. , 10,000, including 8500 lambs slow, steady: nafew choice By above steady; ewesfi [email protected], July 28.—HOgs— @tarket, 10 to 25 a lower; ys 325 1bs., $12.75; 180$12. 65: ; 160-

12; 140- bs., a 25; 120-130 Ibs., $11: 1 Roughs, $10. 50; stags, $9. 25; calves, $11; ambs P, er July 28. Hous Market 10 to 30 cents lower: 200-225 1 ; 225-250 1bs., doe 10 50: s.,, [email protected]; 285-325 1Ibs., 117s. 170-200 1bs., $12. 4

NEW YORK CHICAGO TORONTO SOUTH BEND

FT. WAYNE EVANSVILLE BOSTON CINCINNATI

Indianapolis Office 200-214 Circle Tower

Thomson & McKinnon

MEMBERS 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

And Other Leading Exchanges

New York Bonds

By United Press BOND PRICE INDEXES

20 20 20 Indus. Rails Util Yesterday ..... 01.4 #3.1 1018 Week ago 93.5 101.3 Month ago .... 90.3 99.3 Year ago 95.5 106.0 Two years ago. "8.68 100.2 1937 high 101.2 106.0 1937 low . 90.1 99.3 1936 high ..... § 100.4 106.2 1936 low 84.7 103.5 1935 high ..... 86.4 103.6 93.1 1935 low ...... 83.8 7.0 89.3 83.0 (Copyright, 1937, Standard Statistics Co.)

680 Bonds 05.5 95.5 93.5 97.7 89.3 100.5% 93.4 100.2 93.3

U. 8. GOVERNMENT BONDS Treasury Bonds s 1943-40

Ceres ann

1 1959-56 3 Federal Farm Mortgage Bonds 1964-44 103.28 103.25 1949-44 3.5 103.5 Home Owners Loan Bonds 00.25 100.25 102.28 102.28 DOMESTIC BONDS

& por, P 5s 2030... Ki ATT Sen Sa HL 112% a

seen

Erie ref 4s Goodrich 6s 45. . Go T&R 5s

Yng S&T 3'28 51

FOREIGN BONDS Australia 5s 55... .106% Canada 4s 60 .. L107 German Ts (id . 35 Italy 7s 51. . «+ 864% Japan 6's Bien . 93%

INVESTING CO.’S

(By the New York Security Dealers Assn.) Bi fd Ask 19.12 2.83 . 10.27 26.12 adele « 3.95 d . 520 36.25 « 23.12 .26.33 .25.89 17.00 1

106% 107% 35 851; 03

8515 93

.50 C 6.56 Fisc Rds Tne— Bk Stk 54 Ins Sk D BN

Com In Fidelity

ow : pan: pd

.|Sel Am In 14. '99 Sov Inv..

- BO a 0 0 x i | a3; a: DW 3s

Sd BDI; » 0-300 3 - wn - wt = a

SIO a 03 hut 1D ot bt et pt pt Bt

ODIO. =I EE

pl 3M = a a AT

K KCF-K-2

OIL PRODUCTION GAINS IN WEEK

By United Press TULSA, July 28.—Daily oil production in the United States during the week of July 14, was 3,581,272 barrels, in increase of 16,075 barrels, the Oil & Gas Journal said today. The Bureau of Mines estimate for July was 3,423,800 barrels.

Texas was nearly stationary at 1,424,830 barrels. Oklahoma hiked less than 7000 barrels. Kansas averaged 204,450, an increase of 7000 barrels. Louisiana showed a slight slump at 259,100. Arkansas was u) slightly at 28,185.

COPPER STEADY By United Press NEW YORK, July 28.—The export copper market was moderately active and steady today, the price holding at 14.35 cents C. I. F. European base ports, unchanged from yesterday. Domestic copper was quiet and unchanged at 14 cents a pound delivered. Electrolytic copper on the London metal exchange was firm, advancing 10 shillings.

PAGE 17

COMPLETE LOCAL LIVESTOCK

WHEAT PRICES

IRREGULAR AS CORN DECLINES

Profit-Taking Erases Early

Gains in Grains in Chicago.

By United Press

CHICAGO, July 28.—Wheat prices weakened under force of profit

taking which followed the sharp upe

turn at the start today on the Chie cago Board of Trade. At the end of the first hour wheat

was % cent lower to % cent higher, corn was off % to 1% cent, and oats were unchanged to % cent higher,

Heavy buying of wheat at the

start today attracted profit- ~taking

and the early gains were quickly

erased, Trading was only modere

ately active after the first early flurries because of restraint and because of uncertainty surrounding July delivery, It is believed that much of the outstanding interest in July is by-:exporters who are ready to accept tenders. Wheat receipts were 360 cars. Corn prices weakened in syme pathy with the easiness in wheat. Commission houses were on the bearish side in. most of the early trading. Corn receipts were 18 cars,

WAGON WHEAT

rain elevators are paying for No, Hoy noanet a So "Gat. yellow a Hay-—No. 1 timothy, $15@ 8

City 2 red Cash 24c.

ARGENTINE GRAIN BUENOS AIRES, July 28.—Grain futures ned irre gularly higher. What eSugust, $ 27%, up 3 Rac: Septemb er, $1.23%, up ‘ze. Corn—August, 55%z¢, up ac; 3rptember, 557ec, up ‘ac. Oats— ey une changed. Flax-—August, “1. EH une changed; September, $1.34%, unchanged.

WINNIPEG WHEAT

October

1. 1.32% 1.32

LOCAL PRODUCE

(The prices quoted are paid for stock gathered in the country, while for deliv eries in Indianapolis the prices are 1 cent higher. Fach Fy case of eggs must weigh 86 _pounds gros ae s—No.

Heavy breed hens, 5 Leghorn hens, llc; 1937 stock broilers,

loss off, 17e and over, 18s;

1 “strictly fresh, bs.

1037 Stock. 2 lbs. over, 132; roosters, % pucks, feathered and fat, 5 Ibs. over, 5c; geese, full-feathered and fat, Cy to 14 lbs,

512@ 360% ‘Buttertai—No. 1, 30c}

Cc. Butter—Creamery, No, 2 Coudddiis No. 2,

LAND BANK BONDS

Bid, (Asked , Yield 38 2/84 2.85 2.39 34 1.08

3s July 1353-18 cose

Cw DECLARE DIVIDEND

By United Press CHICAGO, July 28.—Directors of Fairbanks-Morse & Co. today dee clared a $1.50 dividend on pre~ ferred stock and the regular 250 a share dividend on common stock, In addition an extra 25c per share was declared on common, all payable September 1 to stockholders of record August 12. Net profit of the company for the first six months of 1937, as reported today was $1,003,031.58 against $786,614.22 in the same 1936 period,

Additional Market News,

SAFE D DEPOSIT BOXES

Reasonable Rental

Security Trust Co. 130 E. Washington

Member Federal Deposit Insurance Corp.

*Chart Shows How Savings Grow at Our Present

DIVIDEND RATE

All Accounts INSURED

up fo

$1 to $5,000 Accepted

Funds Invested by 10th of Any Month

Earn Dividends From

1st of That Month

LUMP SUM INVESTORS

Certificates earning same dividends are issued In units from $100 to $5,000 to those desiring to invest surplus funds,