Indianapolis Times, Indianapolis, Marion County, 4 August 1937 — Page 13

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- The Times Financial and Market Page + =:

LATEST NEW YORK STOCKS [HOGS CONTINUE |New York Bonds WHEAT FUTURES a UPWARD TREND; DROP SLIGHTLY:

WEDNESDAY, AUG. 4,

COMPLETE LOCAL LIVESTOCK

COMPLETE N. Y. EXCHANGE A STOCKS i

RAIL SHARES LEAD

NY » Net By United Press Lust Change

High 35% an 0 Bonds 95.0 95.3

04.8

20 20 0 Ind. Rails Util 9.3 91.8 101.8 LIK 928 101.8 91.3 92.4 1003

BOND PRICE INDEXES 30 INDUSTRIALS

Cash Rep . —t.00| Nat Dairy. —1.87 Distillers .. +0.94 a :

-—0.34

Net Last Change Last Net Ch. 23! 4%

3, Yesterday Adams-Mil 2 te ia

Month age

MARKET

AN BONDS FOLLOW

Steel and oil S Gain in Active Trade.

Stocks

By Inited Press

NEW YORK, Aug. 4.—A sudden buying movement in rails which spread to steels,

mercantiles and some of the

oil shares carried the stock market higher today. Strength in steels and rails featured an irregular advance in domestic corporate bonds today. U. S. Government bonds eased 1-32 to} 3-32, with a few issues gaining to | 2-32 point.

after the recent market advance, but gains ranging to 2 points were recorded. Leaders included Southern Pacific up 13% at 49Yy 1°y at 80, Union Pacific up 2 at 1251, U. 8 Stee] turned active to gain point to 118': while Bethlehem was a point higher at 100. National Steel made a new high for the year at 961, up 1's. Socony Vacuum, the most active issue, made a new high at 22's, up Sears Roebuck also recorded a new high at 96. up 1, on improved farm income, while International Harvester made a high at 118%, up Lead shares advanced on ihe increase in lead prices while motor and utility shares firmed.

FIRST HOUR

Stocks opened quiet and irregular. Steels, rails, oils, merchandising shares and utilities were narrowly mixed. Motors, communications and rubbers were easier. Melals weré steady. As end of the first hour approached rails turned strong. Other | sections also improved. Atchison, Topeka & Santa Fe. which had opened at 78's, spurted to 80's, up! 23, and New York Central and Southern Pacific set up gains of a | point and more. Bethlehem Steel jumped to 100, up 1 after opening | at 98';, Youngstown Sheet ran up 2'¢ to 90!; and U. S. Steel rose 1's from its opening and previous of 118. Sears Roebuck gained a point to a new high at 96. Chrysler firmed to 116, a point over its opening and net higher, General Motors topped 37 for i gain. Communications eased further, with Western Union | off 1'4 to 47'5. J. I. Case was down | j a point to 189. Rubbers steadied. Metals improved further and oils moved up to fractional gains with activity centered in Socony-Vacuum at 22, equal to the year's high and up Utilities were mixed. Sales approximated 190,000 shares against 270,000 in the first hour yes- | terday. Dow-Jones averages—Indus- | trial, 186.42, up 0.51: rail, 52.48, up 0.28: utility, 29.24, off 0.17.

SECOND HOUR Trading quieted as profit-taking came into leaders and scaled gains in all divisions but metals. The lat-! ter met selective demand. International Silver jumped 53% to 49's! and American Smelting was up 1 to 953, American Metal 2's to 34's and St. Joseph lead 3; to 63'i. Steel common reacted to 118':, Bethlehem to 9915, Atchison to 79's, New York Central to 393 and Southern Pacific to 43°«. Socony -Vacuum reached a new high at 22'<. American Woolen preferred rose 2's to 71. Western Union steadied around 43. International Harvester reached a new high at 1187c, up 3%. Motors were steady. Utilities were irregularly lower. Sales approximated 210,000 shares, against a similar amount in the second hour yesterday. Dow-Jones averages—industriai 186.46, up .535; rail 53.00, up .80: utility 29.33, off .08.

= = =

Today's Business At a Glance

GENERAL BUSINESS

American Petroleum Institute. reports week ended July 31 gasoline stocks at 70.872.000 bbls. finished gasoline vs. 64.466.000 previous week. while unfinished gasqline was 7.651.000 vs. 7.584.000 bbls. week; crude oil output averaged 4591000 bbls. dailv vs. 3.573.300 bbls. previous week: refinery operations were up 1.3 points to 86 per cent Edison Electric Institute, reports week ended July 31 electricity output in United States 2.256,335.,000 kwh vs. 2,088,284,000 year ago. up 8

at 443{ cents a fine ounce.

Curb Stocks

The buying in railroad shares was | reported to be mostly short covering |

Atchison up!

| Col O

{ Iron | Lockheed Air

| Segal Lock

| La Salle Exten

| 150 vs. | per cent.

at |

| Aug.

ADVANCE

® = =

MARKETS AT A GLANCE

Stocks move higher under

lead of steels and rails. Bonds irregularly higher; U. S, Government issues irregularly lower, Curb stocks irregular and yuiet, Chicago stock irregularly higher. Call money 1 per cent. Foreign exchange generally steady. Cotton futures bale higher. Grains irregular in Chicago: corn up !y to 1'4 cents a bushel. Rubber futures higher. Silver unchanged in New York

75 cents to 81 a

By United Press

Box Brd Cyan 'B General Maracaibo .

Am Am Am Am Am

Ar Austin Silver Barium Stl Bellanca Air Berkey Gav Fur Brill Cp pf Brown Co pf Can Marconi Carrier Corp ..... Centrif Pipe Cities Ser . Cities Service pf . &G .. Con Cop Mns

- - “ » «1 o~ LD Ut TID BS TY Sn rt of pt kt iF 4 > “

nn 5 “Bn TDWI TD en TFIID DY ne a) pe 2 w - “ <3 FG

— iw hr a

Eagle Picher Equity Cp .. Fisk Rubber

Humble Oil ... Imp O Can ... Fireman

1.5 13 30 UY tf IBI PN BD ee

McWms Dredge Moly bdenum

» Pa

Pan Pitts Pl Gi PS Ind $6 pf ... Root Petro St Regis P

SHEP DOMADDANDADN re DD

- £313 met DADE D DPI D VDD Pd ibn DD on iv D0 w VA) 1 Fd rot

pra

LIS Mme td

» RA DIDS NP PAI 1D “ Po - uf a -

rr I

Sherwin-W Std Oil Ohio Sterl Brew Sunray Oil Technicolor Tilo Roof Wright Harg

— 0

dN AN

| Commonw & So

{ Cons Oil . | Cont Can

{ Coty . | Crane Co | Crown Zeller | Curtiss Wr | Curtiss Wr | Cutler Ham .

| Deere & Co

| Diam T Mot

| Bast R Mill ...

| El P&W { Erie Fair

| Pid Phen eee PF { First N Stirs

| Rair | Gen

2! Gillette S R . | Gillette 8S $3 pf sinner

ASdressoRrah Allegh Cor Alleg Stee J Allied Stores ... hal 6!

Anaconda Anchor Cap... Armstrong Ck. . 59°

| Artloom

| Bald Loco

Bald Loco as...

{ Balt & Ohio . | Barnsdall .. 3el

d Hem dendir Avn «2 eth Steel 5 pf

Callahan Zine. . Calumet & H .. Can Pacific .... Bitain teed “an s Corp...... Bes & Ohio .. hic GtW_Ry pf hMStP&P .... h&Nw Ry .... 3's De p. gt i ate - “es 102% 102% 335 133 120% 303s 655s 3

38 1534 =.

2 10%4 1%

2o8o9009:

Cons Edison

Cont Dia F ... Cons Aircraft .. 23 Corn Prod

. 27% D Lac & W. | Diam Match .. 27': 15% 3814

Doehler D Cast i ia 584

Douglas Air

143 Elec Boat n Elec Music Ind. Elec Pwr & L $7 Elec St Bat

5! 2: + . 79 es 1313 Morse d Dep St

Food Mach ....

Robt Cos Am Im Electric G&E A

Mills Motors

Thtre Eq

| Glidden

Chicago S

Armour & Co Borg Warner Cent Ill PS p Chgo Corp Cities Service Cord Corp Fuller Mig Gen Financ Jarvis B

Mid West Corp Novlit -Sparks Nowest Banc Pub Sve N Ill Rollins Hos tan Dredging

i 09 wr on ED Ne DUO TDN

{no par) 8% 23

290 vs. per

$2.411.795 vear ago, up 12 cent: six months sales $15,580.$13,983,955 vear ago, up 11

Southern Pacific Co.. week ended July 31, own line loadings 30.755 vs. | 30,292 previous week and 29,723 year ago. Wabash Railway Co., week ended

6217 previous week and 6232 year | ago. Illinois Towa Power Co. and sub- | sidiaries, year ended June 30 net income $2,499.975 vs. $2,228,732 year ago. Life Savers Corp. and subsidiaries, | six months net profit $426.180 year ago. Metropolitan Edison Co., year ended June 30 net profit $3,608,688 vs. $3,089,788 year ago. Coca-Cola International Corp.. June quarter net income $1,043.675 | vs. $762.436 preceding quarter and £1.075,718 year ago; six months net | income $1,806,111 vs. $1,708,591 year ago. Columbia Broadcasting Co. July| time sales $1988412 vs. $1292 775 year ago, up 53.8 per cent, highest | in company’s history; seven months | time sales $16,791.677 vs. $12.478,550 | vear ago, up 346 per cent. Sharon Steel Corp., four months] ended April 30 net profit $677,831 or $1.58 a share.

DIVIDENDS |

Columbian Carbon Co., 75 cents! special and regular quarteriy $1, both payable Sept. 10 record Aug.! 18, vs. special 50 cents and regular $1 on June 10. Crum X Forster Insurance Shares | Corp., 30 cents on common pavable | 31 record Aug. 21 vs. like | amount on May 29. National Container Corp. of Delaware, initial 25 cents on common | payable Sept. 1 record Aug. 1s. Socony-Vacuum Oil Co. 23 cents | payable Sept. 15 record Aug. (?) Brown Shoe Co. regular quar- | terly 75 cents on common payable

$537,614 vs. |

per cent and 2,258,776,000 previous | Sept. 1 record Aug. 20.

week. Engineering News-Record, reports | July awards $260,000.000 vs. $226,595,000 year ago. Iron Age, reports steel ingot production unchanged at 85 per cent.

CORPORATION REPORTS

Adams-Millis Corp. net profit $277,566 vs. ago. Fedders Manufacturing Co. months net profit $257,652 or $1.07 a share i L.

six months $188.695 year

$2.702.-

July sales

Green,

Timken Roller Bearing Co.

six |

Fajardo Sugar Co. of Porto Rico, $1 payable Sept. 1 record Aug. 16 vs. like amount on June 1. Heyden Chemical Corp, 50 cents | on common payable Sept. 1 record | Aug. 20 vs. like amount on June 1. ex- | tra 25 cents and regular quarterly | 75 cents both payable Sept. & record Aug. 17. United Biscuit Co., 40 cents a | common share payable Sept. 1 rec- | | ord Aug. 16 vs. like amount pr=ced{ing quarters,

> | Green H L, , | Greyhound Cp

{ Ham Waich | Herc Mot Househd 5 | Houston

{ Hupp Motor ...

i Island Cr

| | Kennecott I July 31, own line loadings 5921 vs. |

| England EE (dollar) | Italy { Germany

| Switzerland Holland (guilder)

| Norway

| Goodrich | Goodyear | Gt

4234 481, 2233 331, 15%

North pt - Gt Nor Ore

30 29

91's 15's 33s 37s

PA. Househd F pf Oil ... Hud & Man ...

Il Central Inland Stl Inspiratn Cop Inter Iron Int M Marine . Int P& PA Int P& PR Intp&pPpcC.. Int P&P pf. Int Siiver Int T&T 11! Coal 273, i 13575 |

Johns-Man

Kelsey-Haves A & B

162 “® 3 813; 6134 Kroger G 22's 22;

FOREIGN EXCHANGE |,

NEW YORK. Aug. 4 —Opening foreign exchange steady. Net Cable Rates 4.98 5-1 497 9-16 99 63-64 03750 05263 1684 40242 2208 . 43318 . Unquoted .2569 2

Change 00

(pound! 0-d. bill rate) —.00 1-16 France (franc) lire) . (belga) (mark) (franc)

1000015 —10000'2

Beigium

Spain (peseta) Sweden (krona) (krone) Denmark (krone) .. Japan iyen)

U. S. STATEMENT

WASHINGTON, Aug. 4 —- Government

-.0000"' > 40000 2 1.0007

| receipts and expenses for the current fiscal | vear through Aug. 2, compared with a vear

ago: IL.ast Year $ 427.469.428.26 | 306.767,369.52 , 120,701.558.74 2.230,551.418.32 1,771,439,206.06 33,438.540,589. 3 10,647.546,374.5 32,488.098. » Total Pure. $1.220,808,966.30

his Year Expenses Receints Deficit Cash Bal. Work Bal Pub. Debt Gold Res Customs

36.714.995.389.22 12,452.229,685.35 og; 577,568.91 ay’'s Pure Inactive Gold bel 562,817.76

BROKERS’ OPINION

NEW YORK, Aug. 4. —Brokerage |

opinion today: E. A. PIERCE & CO.—We would {not expect the current irregularity | to continue much _ further and, in

fact, we would anticipate the reap- |

pearance of selective strength. REDMOND & CO. — We do nat | look for more than a minor ‘ruption of the uptrend at this time.

HORNBLOWER & WEEKS—AI-

| lowing for further irregularity of | | minor proportions, we believe indus-

| trials will continue firm throughout | the next week. We also expect the coppers and rubber stocks to add to their gains. LAMBORN, HUTCHINGS & CO. —The leadership is unquestionably excellent and this usually means much to the market. Interest, however, continues very moderate and we still consider the market in a selective advance rather than an expanding phase at present. SHIELDS & CO.—While Congress remains in session there will be the

| possibility of momentary shocks in | the form of tax proposals, ete. that

can cause quick dips, but such set- | backs should be regarded as Bro

PRICE INDEX AND COMMODITY QUOTATIONS

DAILY PRICE INDEX

NEW YORK, Aug. 3.—Dun & Bradstreet's daily weighted price index of 30 basic commodities, compiled for United Press (1930-1932 average equals 100):

141.01 | Year ago .... 140.71 | 1937 high (April 5).

Yesterday . Week ago

Month ago 146.11 | 1937 low

Following are the commodily prices used ih compiling the

daily price index.

Today $ 1.19% 1.065% 83'¢ 30 35 A153 RLY 8330 3114 1280 0630

Commodities— Wheat, No. 2 red (bn) . Corn, Neo. 2 yellow (bu.) ...... Rye, No. 2 (bu) Oats, Ne. 2 white (bu.) floar. spe. pat (196-1b. sk.) ... Lard, prime steam sot (1b) .., Coffee, Rie 7s spt (1h) ..... ‘ea Sngar, raw 96 test (ib) Butter. 92 score 1h.) Hogs. avg. most sales (1h) ... Steers, avg. most sales (Ub.)....

saves

Commodities—

Wool. fine unwashed

. 131.58 158.28 140.60

Silk, Rubber. spt. (July 29). Lead. spot (Ib) Zine spot lb.)

Week Ago $123 1.033§ R% 32% 5.85 A197 894 A345 S13 1249

Year Ago $ LI3% 1.115% OK A5 Ta 1197 08 0368 38

.1090 0615

Silver, comml. Bars Steel, scrap Chi.

scrap and hides.

Lambs. avg. most sales (th) ... Hides, native hvy steers Ib.) .

Cotton mid-upland Ib.) 13-15 deniers Jap. smk. rib. Copper electrolytic (Ib.)

sussteaanene

Tin. straits spot (Ib.)

(ton) Pig iron, Iron Age com (ton) .. Coke, Connelsville (ton) Cement, dom. Portland (bbl.).. Yellow pine, 6-in. base (tm ft.).. Douglas fir rough m. ft)... ... Gasaline, tank wagon Crude oil, 40 cravity (bbl)... Sonrces of Quotes—Chicagn: Grains, Boston: nelsville: Coke. Tulsa: Crude ofl.

Week Azo 1100 AR A A144 1.95 A823 Ae 060212 06621%

Year Azo 1033 A: 352 12359 1.79% 63g 093% 0460 0190 A3 RIL’ 14.25 18.84 3.50 2.55 50.00 38.00 LORY 1.18

Today A125 A834 A A104

comb. Ib.) tb)... ab)... 060212 062% 59 39% A4% AL 19.75 A 1% 1 23.2% 2% 4.35 4.35 2.25 2.9% 0.00 60.00 52.50 52.50 vn 1.2% livestock, lard, steel East St. Louis: Zine. ConNew York: AH others.

Srsaane

(zal)...

Wool.

* | Nash-Kelv

4 | both

-18 | low the May and June volume, but |

inter- |

High, 193%, 154.40; low, 163.51, Righ, 1036, 184.90: low, 143.11 20 RAILROADS Yesterday Week ago Month ago YEAr RRO .........coccvsssnens High, 1937, 64.46; lew, 50.17. High 1936, 59.89; low, 40.66. 20 UTILITIES Yesterday Week ago

2 | Month age

| Year age ........... High, 193%, 31.50; low, 25.45 High, 1936, 36.08; 2R.63. 0 STOCKS

low,

LE 83.21 S19 £0.88 low, 531.5%. low, 51.20,

Yesterday Week age Month age Year age " | High, 193%, 69.5%: High, 1938, 68.3%:

Net High Low Last Change ee Leh V Coal pf. 97 R pl 1412 . 18 12% 85's

Ludlum Stl

Macy R Martin Parry

McLellan St Mident PEL Minn Hn | Mission Corn Mo-K Tex nf Mont Ward . Mother Lode ...

. 18% % reas

LUMBER BUSINESS

INCREASES IN Vex

Industry Stands at 80 Per Cent of * 29 Average.

| By United Press

WASHINGTON, Aug. 4.

| | {

Elev en In Glass101 —Pa Pac Am Fish .. 17% Pac & El ... 31% Pac es oil .. 27

i s Sc E.. 5 a | iv mouth ‘on .“ ¥ 225

Press Su 1 ot 7 Pure 20

Reo Mot : Republic Str... anes

Reyn Met rts

jchulte R Jeabd A

Studebaker Swift Intl ) Syming Gould .

lexas Corp Tex Pac IL.

Trnsamrica new Ti. Cont ... Sa Truax Tra 11% ow | ey Union Carb .. 101% 101% Un Oil Cal .... 25" 25% Un Pacific . 123 123% Un Aircraft Cp 30 30 United Corp .. United Drug United Fruit

R — New |U S Rub I p

U S Steel

business booked by the lumber in- Ut P&LA

| dustry in the week ended July M | vudses Sales

i* | ers Association showed today.

| The industry in the week stood at | 80 per cent of the 1929 weekly average of production and 74 per cent of 1929 shipments. | The 531 mills reporting, 5 per cent

‘| less than the 557 a week earlier,

| had production of 278, 308,000 feet of hardwoods and softwoods combined, a decrease of 6 per cent compared with 296,248,000 feet in the | preceding week. | Shipments aggregated 249, 664.000 | feet, 3 per cent below the total of | 257.188.000 feet a week earlier. New | business amounted to 229,119,000

‘| feet, an increase of 5 per cent over

| the preceding week's new orders of | 217.845.000 feet. Production for the week was 11 per cent over the corresponding 1936 | week, shipments were 15 per cent higher and new orders were 7 per cent larger.

ENGINEERING BIDS DECLINE IN JULY i

| |

By United Press NEW YORK, Aug. 4—Engineering construction in July dipped be-

rose 15 per cent ahead of July 1936, Engineering News-Record reported today. The July total of $260.001,000, represented a weekly average rate of $52,000,000, compared with $226, -

1 595.000 and $45,319,000. respectively,

in July last year and with a weekly | rate of $58.573.000 in May and $68.- | 600, in June this year. The average for the year to date was $50,190,000, or slightly below the July average. | The five-week July total for 1937 comprised $103,181,000 private awards, $156,820,000 public and $21.885,000 Fedreal, compared with the four-week sub-totals for June of $146,078,000, $128,321,000 and $20,372,000 respectively, and with the five-week sub-totals for July, 1936, 95 $65,382,000, $161,213.000, and $54,959,000, respectively.

BANK STOCKS

(By Bivth & Co. Inc.) —Aug. 4 —

| Banke Trast ... Central Hanover | Chase National | Chemical Bank & Guaranty Trust Irving Trust Manufacturers Trust | National City 45% {| Continental Til, Nail Chicago 138 First National Bk. Boston 49g National Shawmut gH National City Cleveland

Fire Insurance

Trust ..

Aetna Fire SE Citv of New York .. Federal Franklin . Great American Hanove Hartford chins ome . rt. National Fire .... SQth § River

S. Fire Westchester

Casualty Companies

Continental Casualty . “rs Mass. Bondi ing 3 & Insurance.

94 641.

CHICAGO PRODUCE

Eges—Market, Scag. ReceiDis. cases. Fresh grade firsts, firsts. 20'.c: current receipts, 18'. 16%;c: 21l.c:

extra

storage packed firsts, 2 Butter Market, easy. Receipts. tubs, Extra firsts 190-01', score). 30': 303ac; extras ., le; seconds, a @27 2c; firsts, specials, 31'.@ 32¢c: standards. : centralized score). 29c: centralized (82 score), 293:c. Poultry—Market, steady Receipts, car, Geese, 12¢c: duc 20@2lc. Jeghorn hens, spring chickens, 20@23'>c: broilers. 22¢c: roosters. 2 He fryers, 18@22'ac; turkeys, 14@15 Cheese Twine. 163.@17c; daisies, 17':@ 1734c; longhorns, 17!:@1734c. Potatoes — Sup lies moderate: demand, fair; market weak to steady. alifornia White Rose, [email protected]; Idaho Bliss Triumphs, $1. 60; . S. Commercials, el: Maho Russet Burbanks, 0 15; "iiNO.. 2, :

126

4 Misr 8 rs braska Copier , $1.15@1 20° Cobblers, $1.25. = 3 w Arrivals, 72; on track, 251:

LR vara shipments,

TYPEWRITTEN LETTER: AUTOMATICALLY (YPRE ADDRISSING & MAILING MU. T GRAPHING STENCILS et MIMEOG RA PH ING RU.ED FORME T™S 1» x 28 TWS NOTAR

Blig.

| Wabash

Wabash pf A 3 5

| Walgreen nf ww 80

| |

Progress

| Woolworth .

| Citz Ind Tel (TH) 4'>s 61 +.

Warner Bros West Union Wheel Steel White Motor

143s 48's . 58 . 241; . 487% rigley .. 70! 70; Yellow Tr Young Sheet .

2% 891,

2214 89,

24 . 89%

LOCAL ISSUES

The following quotations do not represent actual bids or offerings, but merely

indicate the approximate market lev furnished by the brokers named.

(By Indianapolis Bond & Share Corp.)

BONDS Bid. 100 103'. 1047 . 50%, 104

H Tel & Tel Ft W 5's 55 H Tel & Tel Fi W 6s 43 H Tel & Tel Ft W Ts Ind Assoc Tel 4':s 65 ... Indiana Tel Co 5s 60 . .' Indpls Railway Ins 55 67. Indpls Water Co 3's 66 ... Interstate Tel & Tel §5'»s 53... Kokomo Water Works 5s 58.. Kuhner Packing Co 4'zs 49... § Morris 5 & 10 Stores 3s 50... Muncie Water Works 5s 65... Noblesville H L & P 625 47... Ohio Tel Serv 6s 47 Richmond W W 5s 5 .. 105 Seymour Water Co 5s 49..... H Trac & L 5s 44 10 T H Water Works 53 56... T H Water Works 6s 49 Trac Term Co 5s § STOCKS Belt Railroad St Yds cum ... § Belt Railroad & St Yds pfd.. xCent jnd Power BES... Hook Drug In xCent Ind Power ot Eis. . q Ind Gas Co cum Ind Gen Serv Ind Hydro Elec Co Ts. . Indpls Pwr & Lt Co pfd "8s ‘a Indpls Pwr & Lt Co pid 5'a2s.. Indpls Water Co td 5s he Lincoln Natl Life Ins Co com . N Ind Pub Serv pf Ts ‘ | N Ind Pub Serv Co pfd 6s | N Ind Pub Serv pfd 5':s | P R Malory Co com inew! Laundry Co ‘

| Pub Serv Co of Ind 6s .

| |

10.759 |

a dire { checks, 16'4c; storage packed extras, |

11. 19 !

one |

15¢; | 17@ |

Pub Sery Co of Ind 7s ....... Smith-Alson pid Smith-Alsop com ‘eee Terre Haute Elec Co 6s ....

van Camp Milk Co pfd... Van Camp Milk Co com st & Co.)

» { P. Cri Market St, 35.08

y M. Investing Corp INVESTING CO.’S

(By the New York Security Dealers Assn.)

Bid. Ask. ..18.98 29.19| KCF-K-1 10.15 11,18 KCF-K-2 28.25 KCF-B-3 1 Y.75/KCF-B-2 1.84 Md Fund Ma In Tr 38.81 Mu In F 23.87 KCF-S-4 12.51 26.86 Natl Inv... (.98 27.72 Natwd Sec 4.50 . Natwd Vtg 2.08 E Fd 19.05 Y Stocks Ine Bk Stks 11.14 11.73 12.61 .. 10.59 13.81 13.89

Bid. .25.57 .20.56 . 20.36 .29.88 9.717 28.86 . 16.49

Ad Fds

Bost Fds 25.11 Cent Tr 25. 78

oo IN IN

‘ 17 {Quar Inc ..35.35 35.25 Rep Tr 28.38 3 58 Rep Inv .. A 13.24 .|Se 10.93 4.90 24.31 83 35 . 5.83 Gen 43.37 46.63) Sup Cp A Gn n Tr 708 7.70!Su Cp P Group I gu gp 8 ‘ Agricu 2 . u 1 34i8u AR .... 294/Su BB

Equity Fidelity T

41 5 28.89 USEL&PA 16.63 USEL&PB USFLX:Pvt Well Pd

—

AR EA

a) 12 1s 1a 1

“y Va | 3,1 1y 1 21 |

| Good to choice offerings

8 |

col

| Lightweights

el as

Ask. 102

105 106’, |

53 108 | 100 | 82 100 | a 1051, 100 103

| (1350-1500) | Good

104

Ask. 27.85 22.50 22.34 32.85 10.71 30.62 18.03 35

17.75

* | cultural Economics, | ment of Agriculture.

©, $13.50. Sows ranged la |

9! | (1100-1300)

2 | Good and choice

2.85 1.10 20.53 Ir

Final Stock Quotations See Later Editions of

For

The Indianapolis Times

SAFE DEPOSIT BOXES

Reasonable Rental Security Trust Co.

130 E. Washington

Memhe posts thre Cory,

| mained unchangea Lota

TOP HITS $13.00

Light Receipts Send Pork Prices Up 10 Cents in Local Trade.

Hog prices advanced 10 cents on | all weights barrows and gilts today,

according to the Bureau of Agri- |

U. S. Depart-

the peak to strong to 25 cents higher to bulk at $10.75 to $12. Active buying kept the market for strictly grain-fed steers and vearlings on a steady to strong basis, with instances higher on yearlings. This steady to strong market applied solely to cattle selling at $15 and above, short-feds and grassers moving slowly and weak to 25 cents lower. Steers scaling 1215 pounds brought $16.25, the day's top. Numerous loads of yearlings, as well as light steers, cashed at $16 and bulk of the fed crop had a spread at $15 to $16. Under a bearish attack by buyers, vealer prices were barely steady to weak, especially so after receipt of lower advices from nearby centers. ranged from $11 to $11.50, latter price for choice selections. Mediums

Light receipts sent

Lower grades sold downward Lamb prices coasted along at about steady levels in an active trade. Good to choice ewes and wethers cleared from $10.50 to $11, but most kinds were not eligible above $10.75. Medium offerings bulked from $9 to $10. Slaughter ewes showed no change at $4.50 downward.

Receipls 3000

“ XK -

tk pt ft ot pt BWW BRIS

Light Li hts 140-160) “Good and choice

$12.35@ 13.40 Medium ‘

11.85@ 13.00

160-180) Good ahd choice . 13.00% 13.45 [email protected]

(180-200) Soo. dan dehoice . 13.254 13.50

. 12.75@ 13.55 Medidm Wei ium 20) choice . 13.25 13.50 and choice . 13.15 13.45

[email protected] [email protected]

11.50412.00 [email protected] 10.75@ 11.25

Heavyweights— (250-290) Good (200-350) Sio0d Packing Sow 1275-350) Good 1350-425) Good 1425-450) Good (275-550) Medium [email protected] Slauthter Pigs (100-140) Good and choice . 11.35% 12.60 editm . [email protected] CATTLE — Receipts, 1400 — Choice ... $12.75@ 15.50 Good .. 11.506014.25 Medium 9.007 11.50 Common . 6.50% 0.00 Prime 15.50 16.50 (900-1100) vor [email protected] . 11.50% 14.50 9.00 12.00 7.00@ 8.25 . [email protected] [email protected] 12.00 12.50 9.25@ 12.25 15.75 16.50 14 50@ 15.75 12.25@ 14.75

choice . choice ..

(500-900)

(550-750)

Good an dchoice . Common, medium

(750-900)

Medium ‘ Common, medium Low cutter and cutter Bulls, good .... Cutter, com,

Bulls

Good (heel) Cutter, common

Medium Cull and common Calves —Receipts, 700 Steers — (250-500) Good and choice $ 9.504 11.50 Common. medium 7.00@ 9.50 Feeder and Stocker Cattle Steers (500-800) Good and choice Common, medium (800-1050) Sood and choice mmon, medium

$ R.00/@10.00 650@ 800 8.00%10.50 6.50@ 8.00

7.00@ 8.50 5.75% 7.00

Heifers— Good and choice ‘ Common and medium SHEEP AND LAMBS Receipts, 1500— Spring 1 Lambs— Choi .. [email protected] ‘ [email protected] 8.50®11.50 7.50@ 8.50 Shorn Ewes— (90-175) Good and choice Common, medium

By United Press

CHICAGO, Aug. 4—Ho a Receipts, 5000, including 2000 directs; arket, active mostly strong to 10 cents Rsher: packing sows and heavy butchers showing most advance: top. ; bulk good and choice 13.35. most 150-170 Ibs. loads heavy butchers, bulk good packing sows, $10.85@ 11.7

Cattle— Bokeipts. 10,000: calves. 1500. choice and prime weight steers steady; all others 25 cents lower: JSrassy and short fed kinds, 25 cents off: steer run predominating: top, $17.15. paid on 1422-1b, averhighest price, [email protected]: 25: grassers and shortfed. down to $9.50: all grass cows, heifers steady to weak: bulls and vealers steady; sausage bulls, $7.35; vealers, $11.50; selects at $12. Sh een. Receipt 9000, including 7500 diSpringers, “Siow: bulk 25 cents lower; choice natives, [email protected]: top, 11.50; 1S cre. $8.50; ewes, [email protected], ug aloes Market 200-225 1bs., $13.20@ dels. 10: 250-285 lbs. 88-325 lbs., $12.10@12 40: 32% 299 [email protected]: 150-170 Ibs. Bois: “130-150 Ibs. $11.75@12; 100- 130 ibs [email protected]; roughs. $11.25 down. Calves —[email protected]. Lam ia 010.50. |

WAYNE, Aug. a5 $13.15; 2.85; 27 5-

$12.75@13. 180

Hogs— Market, tia 25; 160-180 Ibs. 225-250 Togs $13; 00 Ibs. 2.60;

roughs, So. a8: calves, $11.50.

| Lambs,

MONEY MARKET

NEW YORK, Aug 4. v Honey rates

stags, $9.50;

re- |

Comme cial Paper— Prime names. 1%

ohey 8 end 3 days, 11475: 120 150 and 1 ays, 1a Rediscount rate at New York 10565.

ON SAVINGS

THE

LRA

(J.

”

DELAWARE . OHIO

2%s

| kota, at Bismarck, which has more 2.25 | than $30,000,000 assets.

| of which Langer is chairman, will |

| employ the state-owned mill | elevator at Grand Forks,

| 1,996,356 compared with 1.853,017 in

1” 89.5 100.5 93.4 100.2 93.3

92.0 95.3 105.6 89.2 9.2 100.7 95.0 101.2 106.0 50.8 20.1 99.3 94.8 100.4 106.2 90.0 84.7 1035 1935 High .... 91.¢ 86.4 104.6 93.1 1935 3. Le 89.3 83.0 (Copyright, 1937, Standard Statistics Co.)

Year age ..... Two years ago 1937 1937 1936 High 1936 Low

U. 8. GOVERNMENT BONDS Treasury Bonds

Low 106.31 101.15 100.17 101.168 100.11

Close 106.31 101.15 100.17 101.16 100.11

Ilias 23,8 2348 27s 1059-56 Federal Farm Mortzage Ronds 1040-44 ..103.9 103.9 Home Owners Loan Bonde 1052-44 ..103.2 103.2

FEDERAL LAND BANK BONDS

103.9

103.2

1958-38 DOMESTIC Alley He 5s 44 All Strs 4%s 50 Arm Ce. D B&O 4 Yas

Can Na Ry b 4 le Ss per hl Bets Pf »

AA a nS .. Ch M St P&P 5s 2000. . Chi R I 4'3s 60 pa Chi R I ref 4s 34ct ... Chi Un Sta 33s 63 ....

4%4s Nov.

Nor Pacif 3s 2 Penn RR 3%s 7 Pere Marq 5s A 56 ... Rep Stl C 4155 50 .... St LSF 45s A 50 Shell Un O 3's 51 So Pacifc 4'.s 81 Stan Oil NJ 3s 61 Texas Cor 3's 51 United Drug 5s 53 U 8 Rubber 5s 47 Young S&T 4s 61 Yng S&T 3'as 51

FOREIGN PONDS High

sei 14 ...103'2 .. 142

Argent 4'.s 71 Australia 5s 55 Brazil 6'2s 26-57 Canada 4s 60 Chile 6s 60 .. Cuba 5':s 45 . Italy T= 51 ie Japan 6'.5 54 Norwav 4s 63 Peru 6s 60

BUY STATE W WHEAT, DAKOTA MILL TOLD

Governor Demands Higher Prices for Farmer.

By Uniled Press BISMARCK, N. D., Aug. 4.—Governor William Langer today ordered the state-owned mill to buy all the North Dakota wheat necessary to defeat ends of “grain gamblers,” and to pay higher prices than any leading markets. The Governor threatened to buy “every bushel of wheat raised in the State, paying farmers cash, unless the market pays what the grain is worth.”

North Dakota's spring wheat crop | has been estimated at nearly 100 million bushels. Governor Langer said his move is backed by the state-controlled Bank of North Da-

The state indutsrial commission,

and built 15 years ago “for service to the people in emergency.” Additional storage space has been secured in Minneapolis and Duluth. “Grain gamblers have been robbing North Dakota farmers for vears like vultures flying over a corpse,” the Governor said. He! charged grain markets were not giving farmers an “honest” bushel. AUTO SALES GAIN By United Press DETROIT, Aug. 4—New passenger car and commercial car sales in the first six months gained over the corresponding 1936 period, R. L. Polk revorted today.

1'ew passenger car sales totaled |

the 1936 period, a gain of 7.74 per cent. Truck sales were 342,084 compared with 320479, a gain of 6.74 | | per cent. |

a Sed

CORN IRREGULAR

Political Turmoil Over Crop

Prices Tends to Curb Activity.

By United Press CHICAGO, Aug. 4—W heat dropped to $1.11 for September futures and $1.12 for December on the Board of Trade today before the decline was checked At the end of the first hour wheat

was '2 to 5 cent lower, corn waa 1, to 1'; cents higher, and oata were 1: lower to 1¢ cent higher. The downturn continued in mid« session until a loss of 2 cents a bushel on September futures was reached. Resting orders to buy and some short covering at that level checked the downturn and started a movement to higher prices. The political turmoil over crop prices has been attracting attention and there was a tendency to turn to the sidelines to await further repercus< sions. Wheat receipts were 236 cars. Corn prices turned sharply higher in a broad buying movement that followed the early downturn, Early optimism over the strength of the market was justified in later deal« ings. Corn receipts were one car,

WAGON WHEAT City grain elevators are paving for Neo, 2 red. $1.02: other grades on their merits, Cash corn, new No. 2 vellow, 085¢. Oats, 24c. Hay—No. 1 timothy, [email protected]

ARGENTINE GRAIN BUENOS AIRES, Aug. 4.--Grain futures irregularly lower, Kheat—August, off Sic: September, 81.21%, off ue, Sopn—August, 54'2¢. off Vie: 547 Oats-—Spot. changed. Faxon AOEISY. changed; September, 51. 3415,

WINNIPEG WHEAT 0 en Change 24/5 "

September. 2073¢, une $1.341%, une unchanged,

Oclober December May ... . 1.21%

LIVERPOOL WHEAT Prev,

Low Close Close $1.28 $1.29%¢ 31.33% 1.20'4 1.30'2 135 1.27% 1.28% 1.33%

- 1.28%

FOOD PRICES

CHICAGO, Aug. 4.—-Sweet Potatoes Tennessee, bushel baskets, [email protected]. Car. rots—Illinois, bunches, 2'2@3c. Spinach. « Illinois, bushel, 75c@ $1, fornia lugs, $1.65@2. ington, crates, [email protected], ington, hampers. $1.7561.85, Celery—Miche gan, flat crates, 35@5H0c. Onions 19 «lly, sacks)—California yellows, [email protected]) 21;

EXPECT NAMING OF - UTILITIES TRUSTEE

A frustee for Utilities Power & Light Co. property may be named this week, it was indicated by Federal District Judge William H. Holly in Chicago today. The utilities Power & Light is a holding company controlling the In« dianapolis Power & Light Co. com« mon stock. The court has taken jurisdiction over the recently filed petition in bankruptey involving the holding _eompany.

MILK PRICE ADVANCES

By United Press CHICAGO, Aug. 4.—Price of milk in Chicago was increased 1 cent a quart, result of an agreement by the Associated Milk Dealers with the Pure Milk Association, giving 14,500 farmers an increasc of 25 cents per 100 pounds.

March

WAGE INCREASE By Uvited Press CHICAGO, Aug. 4—Route men of the Jewel Tea Co. have been grant« ed a wage increase effective Aug. 7, the company announced today. The increase will be on commis« sions paid to the 1558 drivers af= fected and will increase the paye roll $55,000 annually. DIVIDEND DECLARED By United Press NEW YORK, Aug. 4—~The Columbian Carbon Co. today declared a special dividend of 75 cents and the regular quarterly of $1 on the stock, both payable Sept. 10 to stock of record Aug. 18. On June 10 a special disbursement of 50 cents in addition to the, regular quarterly was made.

LANDERS & LANDERS INSURANCE

Jackson K. Landers, Mgr. Careful Personal Attention Given to the Business of our Brokers. Agents and Their Clients R14 Merchants Bldg

[PLEA LL)

SAVE

TO HAVE | $1,000 IN

INVEST

EACH MONTH

Yoo |

10 Years 7.15

“15 Years

4.40

Chart Shows How Savings Grow at

20 Years 3.05

Our Present

25 Years 2.24

1,000

$1 to $5,000 Accept

INSURED

Certificates earning San Jrcidends units from $100 to $5000 to those invest surplus lump re

Funds Invested by | Earn Dividends From

ALL Accounts

23 W. Ohio St.

INSURED SAVINGS ACCOUNT

are

Write for folder explaining INSURED Accounts

Crrricdreperat

SAVINGS € LOAN ASSOCIATION of Indianapolis

Y; Block West of Meridian

Dividend Rate

ed Up to $5,000

issued desiring

in te

Oth of Any Month Ist of That Month