Indianapolis Times, Indianapolis, Marion County, 30 July 1937 — Page 20
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PAGE 20
THE INDIANAPOLIS TIMES
TRIDAY, JULY 380, 1937
COMPLETE N. Y. EXCHANGE STOCKS
w
+ The Times Financial and Market Page
COMPLETE LOCAL
® LIVESTOCK
MARKET FOLLOWS
Baldwin: Preferred Jumps: Six Points.
By United Press NEW YORK, July 30.— Stocks rallied today under lead of steel issues which responded to favorable reports of leading companies. Trading was light. Bonds strengthened in dull trading today after a slightly easier opening. U. S. Government issues were steady and foreign funds firm, United States Steel rose to 116%, up 13%; National Steel 522, up 1%; Bethlehem 96's, up 1%; Republic 37%, 15. Other sections followed steels. Best gains were made by Baldwin preferred 85, up 6'2; Case 180, up 1%; Chrysler 113, up 1; Electric Power & Light 233%, up 1%; Union Pacific 127'2, up 1, and Westinghouse Electric 153 up 1. Loew’s made a new high. SoconyVacuum equaled its high. Tobaccos firmed. Small, gains were noted in the mercantile section. Tide Water Associated was particularly active in the oils after opening on a 5000share block.
FIRST HOUR
The market advanced in dull trading. Steel shares featured. U, 8. Steel opened at 115% and then went to 116% for 14 gain. Bethlehem was 13 higher at 95%. Youngstown Sheet & Tube and American Rolling mill firmed. Most of the rails firmed. Atchison showing 9 gain at 80% and New York Central
14 gain at 40. Westinghouse gained |
a point a 153. Chrysler had 7% gain at 1127; and General Motors was 3% higher at 53%. Utilities were quiet. Volume approximated 180,000 shares compared with 170,000 in the first hour yesterday. Dow-Jones averages, industrial 183.67, up. 0.66: railroad 53.15, up 0.20; utility 30.00, up 0.22.
SECOND HOUR
ANCE AS-i. TRENGTHEN +
MARKETS “AT A GLANCE
Stocks firm in dull trading. Bonds firm and dull ; Curb stocks irregularly higher and quiet. ; . Chicago stocks irregularly higher and quiet. Call money 1 per cent. Foreign exchange firm... Cotton futures steady. Grains irregular at Chicago; wheat up 4 to 34c a bushel. Rubber futures firm. Silver in London 20!% pence a fine ounce, up 1-16 penny.
Curb Stocks
By United Press
Am Airlines .....s Am Cyan B Am Maracaibo .
Bellanca Cities Serv Cities Serv » . Col O & G . Con Cop Mns .. Cord COrp .....s. Creole Pet Cusi Mexic Ragle Picher | L Equity Pp nT&R
gra Nat Films ulf Oil .“
8 CL a id =
Lockheed Air .. McWms Dredge Nese iron oe
Niag BH Be F 5 6 of Pante ‘asa. Prudential Ins Seiberling R .. herwin-W .... Std Oil Ohio .. Sterchi Bros Sunray Oil .... Technicolor Un Gas C Un Lt %
Chicago Stocks
Last 12
BIOL
wr
Armour & Co Butler Bros Cent & S W Ut Comwlith Bdison Cord Corp Elec Househd ... Heileman Brew . Kingsbury Br ... Merch & Mfg A Mid West Corp Folin parks S 2% Wisc Bk Shrs T%
profit $2,002,472 or $1.47 a share vs. $498,950 or 24 cents year ago. Commercial Credit Co., first half
The Sarket ;continued mw A (are. a new record high, vs. $5.-
dull. U. S. Steel had 13% gain at 1163: and Bethlehem was 112 at 957%. Tidewater Associated was the most active stock, showing a
point advance at 214 while Socony
higher |
net income $7,096263 or $371 a
073685 or $3.60 year ago; year ended June 30 net income $14.-
| 174159 or $7.39 vs. surplus equal to
| $6.70 a share preceding quarter; six
Vacuum equaled its high for the |
year at 217%, up 1%. a new 1937 high at 85%, up 3%. Yellow Truck was active, losing 1% to 22's. Consolidated Edison led a decline in utilities, although Peoples Gas: was 13% higher to 50%. Farm equipment shares were strong. Volumeapproximated 130,000 shares compared with 120,000 in the second hour yesterday. Dow-Jones averages: Industrial 184.02, up 1.01; railroad 53.11, up .16; utility 30.000, up .22. = = un
Today's Business At a Glance
GENERAL BUSINESS
Federal Reserve Bank reports week ended July 28 gold stock at $12,433,000,000, an increase of $29 - 000,000 and a record high; ecirculation off $12,000,000 at $6,424,000,000; excess reserves off $60,000,000 to $810,000,000; brokers and dealers loans off $1,000,000 to $1,141,000,000; ratio of total reserves 79.7 per cent vs. 79.7 in previous week and 79.2 year ago CORPORATION REPORTS American Zinz lead & Smelting Co. and subsidiaries June quarter net profit $81,074 or $1.25 a share on
Loew's reached |
$5 convertible prior preferred stock |
vs. $92,530 or 14 cents a share year ago; year ended June 30 net come $258,577 or $3.99 a share of |
in- |
$5 preferred stock vs. net loss $153,- |
343 year ago. Wy Bros. six months net profit | 529.078 or 29 cents a share vs. $106,4 or 10 cents a share year ago.
General Railway Signal Co., June |
quarter net profit $273,155 or 74 cents a share vs. $37,829 or 1 eent a share preceding quarter and net loss $9536 year ago. Gillette Safety Razor Co. and subsidiaries, six months net profit $2,085,333 or 67 cents a share vs. $2,234817 or 73 cents year ago; year ended June 30 net profit $4,826.405 or $1.66 a share vs. $4,632,247 or $1.54 year ago. Gulf Coast Lines, June net operating income $11,980 vs. net deficit $93,942 year ago; six months net operating income $2,479,266 vs. $778,245 year ago. Memphis Natural Gas Co., year ended June 30 net income $597,205 or 60 cents a share on $7 preferred vs. $498,376 or 49 cents a common share year ago. Packard Motor Co. June quarter net profit $1,208355 or 8 cents a share vs, $2,610,701 or 17 cents a share preceding quarter and $2,272,099 or 15 cents year ago; six months net profit. $3,819,057 or 25 cents a share vs. $3,520,128 or 23 cents a share year ago Youngstown Sheet. ¢ & Tube Co. earned $2,022,112 or $1.14 a share in June quarter vs. $2,588,089 or $1.98 year ago; six months $6,908, 131 or $4.08 per share vs. $4,485,388 or $3.39 a share in 1936 period. Air Associates, Inc, nine months ended June 30 profit $75,570 vs. $46,203 year ago. Addressograph-Multigraph Corp. six months net profit $1,122586 or $1.58 a share vs. $658,130 or 88 cents year ago; June quarter net profit $683,088 or 91 cents vs. $504,498 or 67 cents preceding ' quarter ' ahd $329,181 or 43 cents year ago; year ended June 30 net profit $1859, ey or $248 a share vs. $1,212,067 $1.62 preceding twelve months. American Metal Co. Ltd, June quarter net profit $1, 135,900 or 85 cents a share vs. $866,570 or 62 cents ing quarter and $216,430 or “gents year ago; six months net
months gross $496,196919, also a new record vs. $402,459,760 year ago; year gross receivables $883,245467 VS. $661,339,900 preceding 12 months. Grand Union Co. June quarter consolidated net profit $91,256 or 57 cents a $3 preference stock vs. $72.234 or 45 cents preceding quarter and $63,349 or 40 cents year ago; six months net $163.491 or $1.02 vs. $117,801 or 74 cents year ago. Lockheed . Aircraft Corp. Six months net profit $281,563 or 43 cents a share vs. $40,213 or 8 cents
| year ago.
Louisiana & Arkansas Railroad
: Co., June surplus $31,847 vs. $57.415
year ago; six months net $168,052 vs. $287,643 year ago. Otis Elevator Co. and domestic subsidiaries, first six months net profit $2,361,149 or $1.08 a common share vs. $934,819 or 37 cents year ago; June quarter net profit $1,054,156 or 48 cents a share vs. $1,306,993 or 60 cents preceding quarter and $12,328 or 21 cents year ago. Shell Union Oil Corp., June quarter consolidated net profit $4,806,448 or 33 cents a share vs. $3,674,479 or 24 cents preceding quarter and $7,619,839 or 54 cents year ago; Six months net $8,480,927 or 57 cents a share vs. $9,301,823 or 63 cents year ago. Signode Steel Strapping Co. six months net profit $326,241 or $2.15 a share vs. $145360 or 85 cents a share year ago; June quarter net $141,219 or 91 cents a share vs. $185,219 or $1.28 preceding quarter and $78,759 or 47 cents year ago. Southern New England Telephone Co.. June net operating income
| $380,976 vs. $358.854 year ago; six | months net $2,145,983 vs. $1,792,853
|
year ago. Spear & Co., six months net profit $4301 152 or $1.44 a share vs. $382,649 or $1.23 year ago.
DIVIDENDS Lima Locomotive Works, Inc. $1 payable Aug. 20 record Aug. 10 vs. ant payment of $2 in February,
arc & Co, Inc., =25 cents on common payable Oct. 1 record Sept. 15 vs. like amount on July 1. United Gas Corp. regular quarterly $1.75 on $7 first preferred payable Sept. 1 record Aug. 12. Vanadium-Alloys Steel Co. 60 cents payable Sept. 2 record Aug. 20 vs. like amount in previous quarters and extra $2.25 on June 25. Youngstown Steel Door Co., $1.25 payable Sept. 15 record Sept. 1 vs. 75 cents on June 15. American Metal Co. extra 25 cents and 25 cents on common both payable Sept. 1 record Aug. 20 vs. 25 cents on June 1. Murray Corp. of America six months net 72 cents a share vs. $1.21 year ago.
LATEST NEW YORK STOCKS
By United Press
PP A F Fr 37 pi 541s AI marr pl 20
m Am [ Am Rad & S 8 2 Am Roll Mill .. Am Smelt 9 Am Smelt 7 of. T&T
Vo Water W..
inc Anaconda Armour al, Asso oF Gs... Atch . ison. Dt ee 9
At Aviation ‘corp
Blaw-Knox .... Boeing Air .... Borden Bklyn-M T . Bklyn-M T pf.. Burroughs .... Butler Bros .... Butte Cop Burlington Mills 16%
Cal Packing Calumet & H.. Canada Dry 24 Serre de Pasco. 733
& 5 Gh Mail Order 251; Ch & Nw Ry .. 3% Chrysler City Stores ....
Coty Crown Zeller ub-Am Sug .. Curtiss-Wr ....
Davega Strs ... 15% 15% Deere & Co ...133 . 20's 20%
ee BY 27 . 33% 33%
Dow Chem ....118% 118% wi Po
Elec Pwr & Lt. 225 Elec St Bat :
El Paso N Gas .
Fid Phen Firestone T .... Follansbee Freept-Sul
Greyhound Cp .
Hazel At GI. -11504 115% H 581: 581 32 153% 792 4
Houston Oil ... Howe Sound Hupp Motor ...
Ill Central ..... Ingersoll Rand . Int Harvester... Int Nickel 65%
Thtertyne Island Cr Coal.
Kennecott Kresge SS .. 24% & Kroger G&B .. 21% 21% w— 1455 40 6634 51 29 35
Leh Val RR ...
ew Loose-W Bis ... Ludlum Stl ....
Marine Mid ... 10% Marshall a .. 21 Marun Gl 223% 64 . 23 «.« 88 . 66 181% 31 27
Mission Corp .. 27%
FOREIGN EXCHANGE
NEW YORK, yy 30.—Opening foreign exchange stead
Rab.) 480) £. ho Tr. iE (dol). .. 29 89 9-64 43 75 .05263% - 383% 402 Switzerl'd .2298 Holland Spain (peseta) ... unquoted Sweden (krona) 2567 Norway (krone) . .250 “ Denmark (krone). .2223 Japan (yen) vv 22901 1.0002
BROKERS’ OPINION NEW YORK, July 30.—Brokerage opinion today. E. A, PIERCE & CO.—During the past several days of irregularity, the merchandising stocks have shown better than average firmness and it appears that this group is preparing for a seasonal advance this fall. REDMOND & CO.—We do not believe that there will be general strength of any substantial character until the market has had some moderate correction. SHIELDS & CO.—Little revival of speculative leadership is to be expected while Congress remains in session, but on the other hand there is nothing in sight that threatens any more important selling than has been witnessed. J. S. BACHE & CO.—The consolidation of the July .gains does not appear to have fully run its course, and renewed sagging after possible further rallying attempts may not be surprising. We would utilize periods of weakness for selective purchases in deserving equi-
ties. W. L. LYONS & CO.—Conservative opinion still leans towards the bullish side.
For Final Stock Quotations See Later Editions of The Indianapolis Times
DOW-JONES STOCK AVERAGES 30 INDUSTRIALS Yesterday ......... «+. 18301 Week Ag0 ..ocamecicrinnness. 188.78" Month ago «..cvvieviiviinenn 12 Year ago ...iv.... Vag oe duvan High, 1937, 104.40; low, 165.51. High, 1936, 181.90; low, 143.11. 20 RAILROADS
+0.44 +0.82 “+2.09 -1.12
veshune
Yesterday Week ago ........... Cetaunes 54.80 Month ago ..... vases 52.06 Year ago High, 1937, 64.46; low, 50.1%. High, 1936, 59.89: low, 40.66. 20 UTILITIES Yesterday Week ago .... Month age Year ago High, 193%, 37.54; low, 25.45. High, 1936, 36.08; law, 28.63.
Yesterday Week ago .... Month Ag0 «vovs.onvecnviniss
High, 1937, 69.67; low, 57.57%. High, 1936, 66.38; low, 51.20.
Net Righ. Low. Last. Change, 623 6234
3414 3414 is 2% 22%
Mont Ward ... Motor Prod ... Munsingwr .
t+ 41+
185 21% 23% a1 203%, 382 5213
+H
No Amer pf.... § No Pacific ..... 29
Ohio Oil Otis Elev Otis Steel
20% 402 19%
Ce
“ee 32% . 45% Ne
EE
Purity Bak .... 14
Radio . i Republ "stl Republic Stl pl Yi Reyn Met ve 3 Reyn Tob B ..
PHI
Safeway St Jos Lead
studebaker ... Sunshine Min ..
8 £ § § S S §
18%
Tenn Corp .... Texas Corp .... Thermoid . Tide W A Oil .
13% a / 623, 9% 21
CHICAGO PRODUCE
gs—Market, firm; receipts, 8346 cases: treo graded firsts, 20c; extra firsts, 20sec: current receipts, 181¢; dirties, 163c; checks, 16%c; storage packed firsts, 2034c¢; storage packed extras, 21%ec. Butter—Market, steady; receipts, 13.265 tubs; extra firsts (90-91'> score), 30%¢c; extras (92 score), 31c; firsts, 29% @ 30c; seconds, 24@27%ac: specials, 3la@ 32¢; standards, 31lc: cent. (83 score), 30c: cent. (89 score), 3lc. : Poultry—Market, weak; receipts, 1 car, 56 trucks; geese, 12c: ducks. 11@12¢; hens, 19@21c; Jighorn hens, 13%c¢; Ehishens, 1G $ broilers, 17@22¢c; osters c; fryers, - eal y 18@22'%c; tur heese — Twins, 16S | Ieous 17% @17%c; longhorns, 17% @17% Potatoes—Supplies, moderate: * emand. slow; market, weaker; California White Rose, $2.40; Idaho Bliss Triumphs, $1.55@ 1.60; Washington Russet Burbanks, $2.10 @2.121%; Washington hie Rose, $2.10; Missouri Cobblers, $1.10@1. U. S. No. 5c; Kansas Cobblers, $1 07%; Tilineis Cobblers, $1.40; Nebraska Cobblers, $1.30@ 1.40: Pennsylvania Cobblers, $1.40; Arrivals, 88; on track, 234; shipments, 3.
BANK STOCKS
(By Blyth & Co., Inc. bi
Bankers Trust Central Hanover xChase National .. “seuey Chemical Bank & Trust Guaranty Trust . 3 Irving Trust Manufacturers Trust xNational City 45%, Continental Tl. Natl. Chicago. 141% First National Bk. Bost cee 49 National Shawmut Boston National City Cleveland Fire Insurance Aetna 473%
City of 1 New York...... bedetanse 241% Federa 4 Franin “aus ‘ens Great American Hanover Harford Home .... renee National Fire
Phoe 1x U. 8S. Fire Westchester Casualty Companies Continental Casualty
ass. Bonding & Insurance... XEx-Dividend.
LOCAL PRODUCE
(The prices quoted are paid for stock gathered in the country, while for deliveries in Indianapolis the prices are 1 cent higher. Each Ay case of eggs must weigh 55 Pounds RTOS dos 0. 1 “strictly fresh, loss off, 17c
Heavy breed hens. Leghorn hens, 1937 stock. 2 lbs.
bareback broilers. over, 12¢: old roosters, feathered and fat. 5 1 geese. full feathered and fat
Butter—Creamery 1, No. : Be As l2C. 8c.
BUSINESS ACTIVITY GAINS IN WEEK
By United Press NEW YORK, July 29.—Business activity for the week ended July 29, as measured by the Dun & Bradstreet, Inc., business barometer. was at 99.4 per cent of the estimated normal. The index stood at 99.9 per cent last week and 91.0 year ago. The complete indexes follow: ‘uns July 21 Yr. 1039 | § 114.8
‘a
“Un
one,
and 9 to 1% bs.
352@36%¢: Y Butterfat—No. 1, 30c;
Carloadings . Electric output ... Bank Sisatings .
PRICE INDEX AND COMMODITY QUOTATION S
DAILY PRICE INDEX NEW YORK, July 30.—Dun & Bradstreet’s daily weighted price index of 30 basic commodities, compiled for United Press (1930-1932 average equals 100): 140.60) Year Ago ... ! 142.56/1937 high (April 5) 146.29 1937 low (July 29) ..
Ce —
Ponaning 2, the commodity prices used in compiling the n
daily price
Wheat, No. 2 red (bu) ..evevne Corn, No. 2 yellow thu.) v.veee 1.02% Rye, No..R (bn) ........saea00e. . Oats, No. 2 white (bu) ....ue Flour, spg. pat (196-1b. sk.) ... Lard, prime steam spt (Ib) .., Céffee, Rio’ Ts sot (Ob) Cassa Sugar, raw 96 test (Ib) . Butter. 92 score (1b.) .......000 Hogs, avg. most sales (Ib.) «uo Steers, avg. most sales (Ib)
bd eens
$1.22
Commodities—
. 130.43 158.26 140.60
Silk.
Lead. spot (lb.) Zine spot (ib.) Week Ago $1.25% 11
Year Age $1.11 1.06% 88 A3% 5.325 Jgd170 os 0365 35% J100 0628
Lambs, avg. mest sales (Ib.) Hides, native hvy steers (Ib.).. Wool. fine unwashed comb. (1b.) Cotton mid-uplana (lb.) 13-15 deniers Jap. Rubber. spt. smk. rib. Copper electrolytic (Ib.)
Tin. straits spot (ib.) Silver, comml. Bars (oz) .... Steel, scrap Chi. (ton) ... Pig iron, Iron Age com (tom).. Coke, Connelsville (ton) ... Cement, dom. Portland (bbl.).. Yellow pine, 6-in. base (m ft.).. Douglas fir rough (m. ft.)...... ‘Gasoline, tank wagon (gal)... Crude oil. 40 gravity (bblL)....
Week Ago $ 10% A73% G41 Jd1e0 1.98% 1840 a4 060214 066215 59% A434 17.35 23.25 4.35. 2.25 60.00 52.50 093
Year Ago $ .1025 Jd115 351% 1285 1.76 J6'% 0934 0460 0490 A134 A434 13.75 18.84 3.50
Today $ .1110 JA8% JA1 J12t 1.92 1832 Ja 060215
Tete aane
‘| Yellow Tr 'veves
~ | Zonite
\PRODUCTION UP
Net High. Low. Last, Change: «st , 30, 8% + Und Ell Fish .. 882 88ik Un Carr Fast o United. 4, Corp U 8 For Sec
Us Realty ' U S Rubbe
20th Cent-Fox
a
‘881% 33x 17% 127% 5842 ° 116% + 2%
PtH
.
Wabash Waldorf Sys ... Warner Bros .. Westvaco 2 Whel Steel .... White Mot .... 2 Wilson & Co .. Woolworth .... Worthing pf ...
BERR ee ae
+HHI+ +1]
= +
3 »
FOR LEATHER
Visible Supply of Cattle Hides Drops Sharply In Half Year.
Times Special NEW YORK, July 30.—Production of shoes at record levels, indicating a heavy consumption of leather, is attracting attention to the position of stocks of companies in the industry. The total visible supply of cattle hides and leather was reduced by 1,750,000 since Jan. 1 to 15,439,000 up to May 31, cutting the total to the lowest amount since Aug. 31, 1934. Statisticians estimate that this represents but seven months’ supply, while Government holdings have been practically exhausted. In this connection, it also is pointed out that, with the abundance of grain this year, the majority of cattle growers are keeping their livestock, particularly following the droughts of the last few years, when large numbers were slaughtered. One of the leather companies popular at the moment is United States Leather, which, according to estimates, will show good earnings on the Class A shares for the fiscal year ended October, compared with $6.20 a share on the preferred a year ago.
TVA WILL SUPPLY POWER IN KENTUCKY
Middleshoro Hopes to Begin Usage Within Year.
By United Press KNOXVILLE, July 30.—The Tennessee Valley Authority was under contract today to extend its “yardstick” power into Kentucky. The city of Middlesboro signed a contract whereby it will secure TVA power for its nearly 15,000 residents at the rates 34 other cities and communities are paying. Mayor Ike Ginsberg of Middlesboro said the city hoped to begin use of the power within 10 to 12 months. It will be distributed through a municipal plant, authorized in a $175,000 bond issue voted last year. The TVA will construct a transmission line, probably from Norris Dam, a distance of about 35 miles. Signing of the contract ended a nine-year fight by the city for cheaper power rates. The city established its right to distribute its own power under a decision by the Kentucky Court of Appeals, which held the Kentucky Utilities Co. had no franchise,
REAL SILK LOSES IN 6-MONTH PERIOD
The Real Silk Hosiery Mills, Inc., and subsidiary companies announced today that a preliminary estimate for the six months ended June 30, 1937, will show a consolidated loss of $50,733.27, after ali charges, including depreciation and Federal normal taxes, but before a provision for surtax or undistributed profits. The estimate, said G. A. Efroymson, president of the company, is subject to any changes or corrections that may be made as a result of an audit now being conducted.
INVESTING CO.’S
By the New York Security Dealers Assn.
Ask] Bid Ask 4 20. 4 KCF-K-1 .25.62 27 0 1.32 KCF-K-2 .20.66 22. 8 1. iH KCPF-B-3 .21.38 23.37 2 10.12,KCF-B-2 .20.79 32.55 0 1.84Ma In Tr 28.59 30.33 1 17.85 13.77 *.58
id 8 2 1.07 1 J 1
« 55 35.94 38.44 Natwd Sec 4.48 .21.75 2350 N E Fd 18.82 24.96 26.70 N Y Stocks Inc . k Stk 11.25 Bldg S .11.64 12.61 ..10.58 13. 23
© 6d Tnyast Fds Inc ‘ Ins Stk 3% 420 N A 1956 . Dp jos 4 333 cve-JN A 1958 . 3.98 ... Dp Joe [Qr Inc ..17.90 19.62 ry 23 # #5, 3 Rep Tr 14. 4, Schkpf HP 3.62 4.62 Fix Tr B to: 8 Sel Inc 14.80 1615 Fd In 1m bt 25.48) Sel Inc .. 5.58. HN x 30 7.50: Sov Inv . 1.11 1.23 A 579 SP Trk ..21.60 22, ‘4 Gen Cap a 13 46.38/8td Util 92 T 7.01 7.62(Supervd ol 49 15. 7 Securities | A 86 95 « 2.05 3.32 Tr St In D3 08 .... «« 968 1.05ITr S Ll A 797 ... Mining . 1.7 ¥ 91|Tr Oil B.. 1. Stee 2.12 2.29, USEY&PA 11. 25 17.75 Iny Shrs 1.60 1.1|USELAFB 18 2.88 Inc Invs 25.2 | USEL& Pw i 04 1.12 KCF-8- e . 26. % 28. 78 Well Fd .18.70-20.51 In Fd C .15.50 16.45!
NEW BOND ISSUES
(By W. L. Lyons & Co.) Bid.
“i
..102% : 38% N Y State ec Gas 4s '65.... 95 NY 3%s '67..
Northe State, —~ n 8 '67.. a G& Ed kia Gas & E A Rar "86. .
. 101 «91 . +1024 . 98%
101% ..103% 5%
oe na” NN
| Okla, for
PORKER BIDS “HIT $13.10 TOP T0 RECORD HIGH
Hog Prices Reach Highest Point in Nearby Nine. Years.
Top on hogs soared to a new high mark in nearly nine years when in a steady to 10-cent higher market the high level climbed to $13.10, accordin gto the Bureau of Agricultural Economics. Arrivals, estimated at 4000 head, were fairly liberal as compared with meager numbers around the market circle, but shipper demand was very broad and was expected to absorb the biggest part of the crop. The top of $13.10 was paid for choice 200-210-pound weights. Sows sold generally steady, although smooth lightweights of the gilt type did reach $11.75. It was about the usual Friday clean-up trade in cattle. Cows encountered active support and cleared readily at steady to strong rates, while the balance of the trade generally held steady. A few head of yearling steers touched $16. Most heifers were of value to cash at $10 down, Persistently rising dressed values supported vealer prices on a fully steady basis. Good to choice offerings held at $11 to $11.50, with most mediums from $9.50 to $10 and upward to $10.50 on kinds grading nea: good. A steady to weak lamb trade did not affect good to choice offerings which moved from $10.75 to $11.25, but chiefly medium grades and below which in spots were slightly lower. Most mediums ranged from $93 to $10.25, throwouts downward to $8. Slaughter ewes were steady with a $4.50 top on choice lightweights. Bulk Receipts
[email protected] [email protected]
July Top
12.606212.90 12.70/@13.00 [email protected]
HOGS
Light Lights— 140-160) Good and choice. $i Hels .00 Medi [email protected] Lightweights— (160-180) Good nd [email protected] 12.85G012.85
Mediu (180-200) Good 'a Tand [email protected]
12.35@ 12.85 Medium Weights (200-220) Good and [email protected] Dn (220- wi] Good and [email protected] eavvweights— (250-290) Good [email protected] (290-350) Good [email protected] Packing Sows— aa 350) Good [email protected] (350-425) Good .. . [email protected] (425-450) Good [email protected] (275-550) Medium [email protected] [email protected] 10.25@ 11.75
choice. . choice. . choice. . choice. .
choice. . choice. .
and
Slaughter Pigs (100-140) Good a and choice..
—Receipts, 500— .. [email protected] . 11,60@ 14.25 9.00@ x 5 6.50@ 9.25 . 14, ga@i4. 75 1. 4.50
(500-900) (900-1100) Good
(1100-1300)
(1350-1500)
(550-750)
Good and choice Common, medium
(750-900)
ium Common medium Low cutter and cutter Bulls, good Cutter, com.
6.75 Good 2 choice Mediu Cull nd COMMON... co vues Calves —Receipts, 500—
Stee (250- 2500) Good and choice .$ 9. S0@i1. 50 Common, medium 7.00@ 9.50 Feeder and Stocker Cattle Steers (500-800) Good and choice $ 7.75@ Common. medium 6.50 . (800-1050) 18.
Heifers— Good and choice Common and medium SHEEP AND LAMBS —Receipts, 1000—
ing Lambs— si 5 Shear E REESE. on «SHO aL
Good and choice. 7.75 Common, medium. 6.50
@ 9.00
4.00@ 4.50 . 2.30@ 4.00
Shorn (90- 175) Good and choice. . Common, medium
By United Press
CHICAGO, July 30. -- Hogs -- Receipts, 5000. including 1500 directs. Market, lo Bs cents higher on hogs, 230 nd packing sows: bulk good and “choice 180- 230 Ibs.. $12.85¢713.10; yop. Ji. 20, Highest since September, $12.75@13; 240-300 1 good packing Cattle—Receipts, .. Demand narrow, following’ midweek colle) 56; lightweight and yeariing steers, 11.50; yearling Fie. "$7.50@9 0.50" ter grades. $5.75 down: bulls and vealers strong; bulk sausage bulls, $6.50@7; veal-
ers, Sll@l Shee Recel ts, 6000, including 4300 diPst ring Rambs, 15 to 25 cents and ; natives, $11.25@ 11.50 freely: . Idahos, $11.25
most
rects.
13; 225-250 Ibs., $12.15@ 12.45; 285- 325 Br 200 lbs., $12. soa. 90; 150-170 1 2. 70; 130-150 lbs., $11. Lal! 3s $10.50@11; rou Ses. $10. Soa], og] he ' 10010. %0, FT. WAYNE, July ’0.—Hogs—Market, 1 cen tslower to 20 A higher; 180-200 ibs., $12.90; 160-180 lbs., $12.80: 200-225 'bs., 2.80; 225-250 lbs. $12. 8: 250-275 1bs., 275-300 1bs., $12.2 300-350 lbs. 150-160 Ibs., $12. 2: 140-150 lbs. 2: 130-140 1lbs., $11.50; 120-130 as $11.25; 100-120 Ibs., $11; roughs, $10.50; stags, $9.25 25. Calves, $11.50. Lambs, $10.50.
‘GIANNINI DIFFERS
WITH FRISCO BOARD
By United Press SAN FRANCISCO, July 29.—Differences between A. P. Giannini, banker, and Frank M. Shaughnessy, president of the San Francisco Stock Exchange, were reported today when it was noted that Mr. Giannini had not listed his reclassified Transamerica stock on the local board. Application for listing has been made on the New York and Los Angeles exchanges. Mr. Giannini refused to discuss the matter.
FRENCH GOLD UP By United Press PARIS, July 30.—Gold stock of the Bank of France rose to 48,859,557,060 francs in the week ended July 22, the weekly statement showed. Three weeks before. gold stock fell to francs, a six-year low.
FLEETBORN OIL SOLD By United Press x OKLAHOMA CITY, July 30.— Henry W. Wilson, president of the Crusaders Petroleum, Inc. of New York, today announced purchase
48,859,221,000 |:
of the Fleetborn Oil Corp. of Ada,
New York Bonds
By United Press
BOND PRICE INDEXES 0 Ind. Ralls. 91.3 924 91.3 93.4 90.8 90.7 91.7 954 89.1 79.5 95.0 101.2 . 90.8 90.1 94.8 100.4 84.7
20 20 Util. Bonds. 101.8 95.8 101.8 95.5 99.5 98.7 105.8 97.6 100.5 89.7 106.0 100.7 99.3 93.% 106.2 100.2 103.5 93.3 1935 High 86.4 103.6 93.1 1935 Low 71.0 893 83.0 (Copyright, 1937, Standard Statistics Co.)
Yesterday «oco.en. Week ago ..... Month ago .... Year ago Tow years ago . 1937 High 1937 Low .... . 1936 High ..v.i00 1936 Low
“ee
U. S. GOVERNMENT BONDS Treasury Bonds
Jas 1945-43 /28 1953-49 Joie 1954-51 278s 1960.58
2%s 1949-39 2%s 1044-42 DOMESTIC BONDS Abitibi, 5s 53 (M) Am P 5
Cons OQil 3l2s 51 Cons Edis 3'2s 56 Del & Hud ref 4s 43. Erie ref 5s Fis ref 5s 67 Gen M Ac 3s Goodrich 8s is
Gt Nor as H Hocking V Pi 29
55 Int T&T or 4128 39 .... Jns & Laugh 4's 61 .. Lorillard B 8 51 Mo K&T 1st
Phil Rd Coal 6s 49 ... Port G E 47s
‘Texas Cor 3'2s 51 .....104 Tex & Pac 55 C19 .... U 8 Rubber 5s 47 Vanadium 5s 41 West Union 5s 60 Wheel Stl 4'2s 66 ....
Low 106% 33%
19%
8 1111085 104 Lot)
JUNE RETAIL SALES ADVANGE IN INDIANA
Nine Per Cent Increase Made Over Month in ’36.
Retail sales of 530 independent stores in Indiana showed an increase of about 9 per cent in dollar volume for June 1937 as compared with the same month for 1936, according to preliminary estimates of the Bureau of Foreign and Domestic Commerce. There were the same number of working days in June of both years.
This report, which covers the larger independent stores, represents 22 kinds of business, eight of which, due to an insufficient number of returns, are contained in miscellaneous or in group totals. When adjusted for the number of working days, June 1937 sales showed a decrease of about 13 per cent from May 1937. Without adjustment either for the number of working days or for seasonal influences, June sales were 9 per cent below May. There was one less working day in May than in June, May 31 of this year being considered as a holiday in making this compatison. The city of Evansville reported the greatest gain in total sales over June of last year with an increase of 252 per cent, other changes for the cities shown ranging down to the 9 per cent loss reported for Terre Haute. Sales in cities of
125,000 to 50,000 reported the great-
est increase over June 1916 with a gain of about 18 per cent, followed by the 100,000 and over group with a gain of about 9 per cent. Sales in areas of less than 2,500 increased 12 per cent.
WASHER SHIPMENTS SET ALL-TIME TOP
Times Special CHICAGO, July 30.—With June shipments averaging 5.2 per tent above a year ago, deliveries of household washing machines fer the first half of this year reachéd an all-time record, according re- } [Ports to the trade today. June shipments came to 143,073 units, while the aggregate: for the first six months of 1937, at 949,328 units, stood 10.2 per cent above that for the like 1936 period. Besides this, household ironer shipments also set a record for the first half of this year, totaling 94,696 units, against 88,044 a year ago.
Wheat Prices Up
PRICE OF WHEAT § JULY EACH YEAR SY
5
WHEAT PRICES
GAIN SLIGHTLY IN CHICAGO PIT
December Corn Sets New
Low as Oat Futures Decline.
By United Press CHICAGO, July 30.-~Wheat prices pushed upward for gains ranging to more than a cent during midmorn-
ing trading today on the Chicago Board of Trade. At the end of the first hour wheat was % to 1%4 cents higher. Corn was % to 1% cents lower, and oats were 14 cent lower. The Winnipeg market firmed somewhat and gave a stronger tone to the Chicago market, although Minneapolis was comparatively weak. Export sales were excellent, Galveston reported 278,000 bushels shipped and export sales of Manitobas from New York for the United Kingdom were reported at 1,000,600 bushels. Wheat receipts were 296 cars. Corn slumped more than 2 cents before offerings became exhausted and the decline checked. Local pro+ fessional buying wiped out about % cent of the decline. At 69 cents De= cember corn set a new low. Come mission houses bought on resting ore ders in fair volume and weakness was believed basd on accumulation of overnight selling orders on the 4= cent break of yesterday. Corn ree ceipts were 8 cars.
WAGON WHEAT
City grain elevators are paying for No, 2 red, 81 06; other grades on their . Cash corn, new Now 2 yellow, $1.0 perl
24c. Hay—No. 1 timothy. $15@1 5.50. Sa
WINNIPEG WHEAT
ARGENTINE GRAIN BUENOS AIRES, July 30. oan, futures » ened firm. Wheat—August, $1.237%, un= anged; September, $1.21%, na Ee gap 54%c, unchanged; Septemw ber, 543sc, unchanged, Oats—8pot, 9%s¢, unchan ed. Flax — August, $1.333;., un= changed; September, $1.3315, unchanged. LIVERPOOL WHEAT Prev. close $1.401% 1.36%, 1.367; March y :
. 1.34% 13314 1.341%
LOCAL ISSUES
The following quotations do not repre= sent actual s or offerings, Mi merely Indicate the approximate market level as furnished by the brok&rs named,
(By Indianapolis Bond & Share Corp.) BONDS
H Tel & Tel Ft W 17s .. Ind Assoc Tel 4's 65. Indiana Tel Co 5s 6C. Indpls Railway Ins 5s 67 Indpls Water Co 3'2s 66...... Interstate Tel & Tel 5's 53... Kokomo Water Works 5s 3 i Kuhner Packing Co 4s 49.... Morris 5 & 10 Stores 5s 50... Muncie Water Works 5s Ly Noblesvilie H L & P 6Y2s 47. Ohio Tel Serv 6s 47 Richmond W w' bs 57. SeYour oer Co 5s 49. THT L 5s 44 TH ares Works 5s 56. T H Water Works 5 49. Trac Term Co og TOCKS
Belt Railroad St SF ts cum... Belt Railroad & St Yds pfd.. xCent Ind Power pf 7 Hook Drug Inc Ind & Mich Elec Co pfd 7s.. Ind Gas Co cum
Indpls Water Co pfd 5s Lncoln Nat] Life Ins Co com. . Ind Pub Serv pf 7 ‘.e N Ind Pub Serv Co pfd 6s .. N Ind Pub Serv pfd 5's P R Mallory Co com (new). Progress Laundry Co re issue Pub Serv Co of Ind 6s.
Terre Haute Elec Co 6s . Union Title Co com Van Camp Milk Co pfd Van Camp Milk Co com By M. P. Crist & Co.)
Market St. Investing Corp....34.79
U. S. STATEMENT
WASHINGTON, July 30. == Government expenses and receipts for the current fiscal year through July 28, compared with a
year ago: Year Last Year
This Expenses ..$ 555, 148, 972.94
Customs X wol8, B34. 843. 17 day's Purch.
Tod 1 Pu Inactive Gold. . $331,384.08 st 201, 77, 060: 00
MONEY MARKET
NEW YORK. July 30.—Money rates ree mained unchanged today. Bank ker's Acceptances — 30 days, -@ 17-16%: 60 and 90 days, Y2@7-16%: 120 . ‘9- 16@'2%: 150 and 180 days. % @
“% Commercial Paley Prins names: 1%. Time Money—60 and 90 days, 114%: 120, 150 and 160 days, 12%. Rediscount rate at New York, 12%.
FOOD PRICES
CHICAGO, July 30.—Sweet Potatoes—e Alabama, bushel RASHatS, 5 Bel 50. Cars rots—Illinois, bunches, 1@2c. Spinac Illinois, bushel, 40@85¢c. Tomatoes—Wasi ington, lugs, 315001 78 asa Hicwelu Washington, crates, $1.3 en Se. Washington, hampers, as Celery Michigan, flat crates, 25@ 50c. Onion§ (50-1b. sacks)—Iowa, yellows, $1.02%a} Washington, Valencias, $1.05.
LOANS TO BROKERS DECLINE IN WEEK
By United Press WASHINGTON, July 30.—Loans to brokers ‘and dealers in the week ended July 28 totaled $1,141,000~ 000, down $1,000,000 from the prévious week and comparing with a
total of $838,000,000 in like week a
year ago. Other loans for the purpose of purchasing or carrying ‘securities amounted to $272,000,000, up $2,000,000.
8
CENTS PER BUSHEL
9 12s THE PARKER INCO
ORP. GENERAL DISTRIBUTORS ORATED INVESTORS poe BOSTON; July 30. — A new bumper wheat crop at the highest prices since 1929 means prosperity for the wheat farmers. In
fact, the Department of Agricul-
ture believes the current wheat crop will be the most valuable in I'S.
"TYPEWRITTEN LETTER: AUTOMATICALLY TYPRE . ADDRESSING & MAILING MULTIGRAPHING STENCILS GUT MIMEOGRAPHING RULED FORMS UP TO 14° X 20" TWO NOTAM =:
1344
Commercial Banking Savings * Trusts
- American National Bank
AT INDIANAPOLIS
. 4