Indianapolis Times, Indianapolis, Marion County, 5 August 1937 — Page 19

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THURSDAY, AUG. 5, 1937

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THE INDIANAPOLIS TIMES

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PAGE ™ PAGE 19

COMPLETE N. Y. EXCHANGE

Ms STOCKS A

The Times Financial and Market P

age

COMPLETE LOCAL

os W LIVESTOCK

STOCKS IRREGULAR IN MODERATE TRADE

AS BONDS ADVANCE

Few Metal and Rail] Stocks Display Strength.

| |

By United Press NEW YORK, Aug. 5.—lr-| regularity prevailed in early | dull trading on the stock market today, some metal and rail shares showing firmness | Railroad funds led the domestic | bond market irregularly higher in | fairly active dealings today. U. S.| Government loans were mixed. Improvement in the copper market brought buying into Anaconda, which advanced fractionally. Ken- | necott eased. American Smelting, selling ex-dividend, gained more than a point. Chesapeake & Ohio gained °: to| 531¢ and Southern Pacific 3: to 49°: while New York Centrai was unchanged at 41. Socony Vacuum again was the most active issue out and advanced 1s to equal its high of 2214. Other oils were mixed but National Supply Co., oil well supply firm, gained 1° to a new high for the year at 39°: Chrysler lost more than a point on renewal of labor difficulties while | General Motors was off fractionally. U. S. Steel slipped % to 118'; and Bethlehem was lower at 991; Stocks dipped slightly from opening levels to bring an irregularly higher tone to the curb market in forenoon dealings today.

FIRST HOUR

Stocks opened irregular and mod- | erately active. Rails. metals and a! few selected industrials were firm, | while steels and motors were easier, | and utilities and oils about steady. Southern Pacific was up 5% to 49°. American Smelting ex-dividend rose 3% to 95'i. U. S. Steel opened at 11915, off 15. Chrysler had loss | to 116°. Sears Roebt uch reached a new high at 96°. up “s. Texas Corp. | opened 1000 shares at 64!:. up ! Trading then quieted and most sec- | tions reacted. However Sears Roe- | buck advanced to 96°: and utilities firmed. Revere Copper & Brass common jumped 1 to 391; and the A] stock was up 3 points to 78 Sales approximated 200,000 shares against 190,000 shares in the first | hour yesterday. Dow-Jones averages —Industrial, 186,57, off 0.23; rail, 53.45, up 0.07: utility, 29.35, off 0.03. |

SECOND HOUR

Trading continued quiet. Rails | turned mixed, but motors and steels | steadied. Metals maintained firm- | ness and merchandising issues strengthened. Atchison dipped to | 791; for 1: point loss, but Chesapeake & Ohio moved up 7: to 533% U. S. Steel held around 118% and | Chrysler around 1167: American | Smelting, ex-dividend, was up 1%! at 95° and International Silver was up 2 to 50. Montgomery Ward rose a point to 63: and Sears Roebuck held around 963. Oliver Farm | Equipment lost 11; to 67. Oils eased, with Standard of New Jersey off | 54 to 69. Western Union was down 15 to 461: and American Telephone | 13; to 170. National Supply reached a new high at 397s, up 135. Utilities steadied. Sales approximated 140.000 shares | against 210.000 in the second hour | yesterday. Dow-Jones averages—In- | dustrial, 186.68, off 0.12; rail, 53.26. | off 0.02; utility, 29.23, off 0.15. = 2

Today's Business At a Glance

Dun & Bradstreet. Inc. week ended Aug. 4, bank clearings | in 22 leading cities at $5.838.715.000 vs. $5.446,318,000 previous week and $5,449,314,000 year ago. Enginering News-Record. reports enginering construction awards for the week $44.041.000 vs. $47.393.000 | previous week, off 7 per cent, and $53,253.000 vear ago, off 17 per cent. | National Electric Manufacturers Association, reports June sales of | household electric refrigerators to | distributors and dealers in United States, based on reports of 15 companies, 249.042 units valued at $21.098.696 vs. 216,008 units or $17.323.013 year ago; domestic sales first six | months 1.586.449 units or $135,925.937 vs. 1,311,820 or $107.008.496 year ago. |

CORPORATION REPORTS

Atchison. Topeka & Santa Fe | Railway Co. week ended July 31] own lines loadings 25,019 vs. 25.378 | previous week and 21.535 year ago. Amerada Corp. and subsidiaries, | June quarter net profit $552.991 | or 70 cents a share vs. $517,115 or | 68 cents preceding quarter and $456,300 or 58 cents year ago; 6 | months net profit $1,070.106 or $1.36 | a share vs. $930,296 or $1.18 a year ago. Ritter Dental Manufacturing Co. and domestic subsidiaries, June! quarter net profit 887.775 vs. $89.369 year ago: six months net profit $189,752 vs. $190,493 year ago. A Western Pacific R. R. Corp., week ended July 31 own lines loadings | 1.841 vs. 1.680 previous week and | 1,767 year ago. American Laundry Machinery Co., six months net profit $421,001 or 72 cents a share vs. $210,363 or | 36 cents year ago. Brunswick - Balke-Collender Co, six months net income $210.033 or |

28 cents a share vs. net loss $118,155 | year ago; June quarter net income | $99.837 or 13 cents a share vs. net | $110,196 or 15 cents preceding quarter and net loss $59,233 year ago. | Commuiity Power & Light Co. six months net profit $421.417 vs. $152,610 preceding 12 months. Flintkote Co. 28 weeks ended | July 17, consolidated net income | 8659233 or 98 cents a share vs. $471,399 or 71 cents a year ago; 16 | wesks’ net income $465648 or TO cents a share vs. $436,101 or 65 cents

SS. vs

reports |

| AIK

{ cus

| La Salle Exten

{year ago; 52 weeks,

{six months | $443.263 | sales $2,319,512 vs. $2.571.828 preced- |

| and

| ended July

| and

| solidated [$1.79 a share vs $1534.413 or $1.43 | preceding quarter and $1,408,821 or [ $1.29 year ago: six months $3.435.917 | or $3.22 a share vs

| Sept.

| Wheat, No. 2 red (bu.)

| Oats, No.

= = 2

MARKETS AT A GLANCE

Stocks irregular and dull. Bonds irregularly higher; U. S. Government issues higher. Curb stocks irregularly higher. Chicago stocks irregularly higher. Call money 1 per cent. Foreign exchange easier. Cotton futures firm to new highs for the movement. Grains higher at Chicago; wheat up sx to 1'; cents a bushel. Rubber futures higher. Silver unchanged in London at 20 pence a fine ounce.

Curb Stocks

| By United Press

r va | Duper N Austin Beuanca Berkey van Marconi carrier Centrit cites clues col Con Cop cord Corp 1 Mexic

Eagle _Picher

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Nat Films Humble Oil Imp O Can Lockheed Air .. McWms Dredge . Mesabi Iron .... Mich Bumper

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7-16 283

634 63%

Stocks

Wright

Chicago

Adams Royalty Berghoff Brew Cent & SW. Ut Club Alum Cord Corp Heileman Brew

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Mid West Corp ... No'west Bancp Pub Srv N Ill Rollins Hos Trane Co Woodall In

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ended July 17, net profit $1.358,868 or $2.03 a share vs. $1,156,243 or $1.73 year ago. Loft. Inc., and subsidiaries, June quarter consolidated net loss $352.795 vs $143,719 preceding quarter; net loss $496,515 year ago; June quarter

ing quarter; six months’ sales

| $4.891,341 vs. $5.584.045 year ago.

Norfolk & Western Rwy. Co. w ings 24.468 vs. 21.379 previous week 22,415 year ago. Pennsylvania R. R. Co, 31 own lines loadings 72,300 vs. 71,673 previous week end 68.546 vear ago. Pittsburgh & Lake Erie R. R. Co., week ended July 31 own lines loadings 7.924 vs. 7.301 previous week | 7.367 year ago. Madison Coach Cr. Trn~ 1 income $32,244 vs. $21,804 year ago. Norfolk & Western Railway Co., July loaded freight cars un. .n._u 119,153 vs. 114.298 previous month and 116,517 year ago.

North American Edison Co. 12

| months ended June 30. consolidated

net income $12,566,629 or $21.14 a share vs. $10.159,449 or $16.23 preceding 12 months.

Packard Motor Car Co. reports

! July retail deliveries 8438 units vs. 1 3940 year ago, up 113 per cent; first

seven months set new record high t 73.902 units vs. 37,059 year ago. Skelly Oil Co., June quarter connet profit $1901,504 or

. $2,203,836 or $1.98

year ago; 12 months’ net profit

| $6.082.395 or $5.65 a share vs. $4,052,- | 584 or $3.62 preceding 12 months.

DIVIDENDS

American Woolen Co.. $1 on preferred on account of arrears. pay-

| able Sept. 15 record Sept. 1 vs. like

amounts previous quarters.

Artloom Corp.. $1.75 on 7 per cent |

1 record in pre-

preferred. payable Sept. Aug. 16, vs. like amounts vious quarters. Bendix Aviation Corp.. 25 cents, payable Sept. 13 record Aug. 20, vs.

| like amounts in two preceding quar-

ters. Bigelow Sanford Carpet Co., special interim $1.75 on common, pay-

| able Sdpt. 1 record Aug. 15, vs. 30

cents on March 1 and 75 cents June 1. Federal Light & Traction Co. regular quarterly $1.50 on preferred, payable Sept. 1 record Aug. 186. Ludwig Baumann & Co., $1.75 on account of accumulations on convertible 7 per cent preferred, payable Aug. 14 record Aug. 10 vs. 87 on preferred arrears on Dec. 26. Masonite Corp., extra 75 cents a common share, payable Aug. 25 rec-

[ord Aug. 15, and regular quarterly

25 cents, payable Sept. 10 record 1, vs. extra 50 cents on

| June 10.

(Copyright, 1937. by United Press)

4, Du

4 ‘8 |

VS. | 3

eek ended July 31 own lines load- |

week |

By United Press

Net High Low Last Change High Low Last Net Chg. Am Car & Fdy. 5 52 52 . Am Enc Sec. . 8% A 3 pf 6 Am 141% 561%

In 22

83% i)

“» ye 413 a6 22 40's 5612 . 56% .« 8302 7. 2 117% 17% 24's 117

18 80

P&L 5 pt A d& SS Rail Mill. uff

Sn 52, “Fdies.

FELL] 4

m Woolen pf.. pr, Cap ... Armour Ill Armour Ill pr ‘pf Asso Dry Goods

Aviation Corp .

3ald Loco as... 3alt & Ohio ... arber Co 3 3eth Steel

Jig My ..... rkivn-M T. Je

Callahan Zinc . | Can Pacific 1 Cent Foundry Certain-teed ... Ches & Ohio .. Chrysler 1167 City Stores .... Col & Aik . Column Gas ... Com Inv Tr ... Com Solvents .. Comw & So . Comw V So pf Cons Edison ... Cons Oil ‘5 Cont Oil Del. .. 4734 Corn Prod 66 Crane C cu pf nies Curtis. Pub ..... Curt Pub pf.... ne curtiss-W X “| Curtiss-W A... 19% Yo 393%

. 5712 161

¥Dome Mines Douglas Air Pont

39 3 t hl 18112

5 | Pair Morse .... d Mo .

| Freept- Sulphre®. 31 31

3915 Ba

50's 31 331; 5

1 155s M & No pf. 43% 434%

| Hecker Prod ... 11% | Houston Oil | Howe Sound . | Hud & Man ...

i II Central | Inland Stl | Inspiratn Cop . Inter Rub ..... | Inter Iron { Int Bus M | Int Harvester | Int M Marine . i Int Nickel] ..... ¢ | Int Silver Int T&T | Intst D S . | Island Cr Coal .

: | gan C Sou A Kennecott

| Lee Rub | Leh Val R R Lehman cele Lite. pozvers Ws

Lott, Stic

1D L100 + Gr Ut No RR OO 0I bn = 10D BD dn 00 ms nt

| Mack Tr | Macy RH . Madison Sq G . Marine Mid Marshall Fld | McGraw El | McKesn & Rob { Mead Corp Miami Cop

LOCAL ISSUES

The following quotations do not represent actual bids or offerings. but merely indicate the approximate market level as furnished by the brokers named (By Indianapolis Bond & Share Corp.)

BONDS

| citz Ind Tel (TH) 45s 61... 100 Ft W 5%s 55 ...1 |H Tel & Tel Fi W 6s 43... iH Tel & Tel. Ft W.7s .... | Ind Assoc Tel 4's 65... | Indiana Tel Co 5s 60 Indpls Railway Ins 55 67..... Indpls Water Co 3'2s 66 51d Interstate Tel & Tel 514s 53 | Kokomo Water Works 5s 58. . Kuhner Packing Co 4155 49 . Morris ® & 10 Stores 5s 50 .. Muncie Water Wocks 5s 65. . Noblesville H LL & Ps 1...

203s

Ask. 1

Ohio Tel Serv Richmond W W 5s 57 . ... | Seymour Water Lo. 89.....; 1

S dues Works 5s 56 Works 8s 49 Trac Term Co 5s

Belt Railroad St Yds cum ... Belt Railroad & St Yds pfd.. 3 xCent Ind Power pf Ts Hook Drug Inc xCent Ind Power pf Ts

Indpls Pwr & Lt oo pid 6s .. Indpls Pwr & Lt Co pH Silas. . Indpls Water Co fd 5s i Lincoln Natl Life Ins Co com . Ind Pub Serv pf Ts . iil N Ind Pub Serv Co pfd 6s ... N Ind Pub Serv pfd 52s .... P R Malory Co com (new) Progress Laundry Co .. Pub iM Co of Ind 6s Pub Serv Co of ng i. : Smith-Alson nfd ... ; Smith-Alson com : Terre Haute Elec Co 6s . Union Title Co com Van Camp Milk Co pfd. ..... Van Camp Milk Co tom

{ Market St.

CHINA GETS LOAN IN GREAT BRITAIN

| By United Press LONDON. Aug. 5—China’s finance minister H. H. Kung on his

recent visit here reached an agreement in principle for the granting of a £20,000,000 (almost $100.000,000 loan to his country, the Chinese embassy informed the United Press today. The loan will be secured by customs revenue, but other details have not been worked out as yet. It was learned that the loan will be offered for general subscription and that the United States, France and Belgium, in addition to England, already have shown interest in the project. Money acquired through the financing, it was understood, will remain in London to be drawn upon by the Chinese government as required. Part of the fund probably will be applied to the conversion of China’s internal loans. Mr. Kung recently left for Paris. He also will visit Germany before returning to his native land.

v M. P. Cri Investing hg Corp :

| DOW-JONES STOCK AVERAGES

| Nat | Nat

30 INDUSTRIALS Yesterday Week ago Month ago ...........e ches Year ago High, 1937, High, 1936,

+0.89 +0.44 —0.04 +0.64 194.40: low, 184.90; low, 143.11. 20 RAILROADS . +1.18 —0.57 +0.45 +0.69

Yesterday

Month ago Year ago High, 1937, High, 1936,

64.46; low, 50.1%. 59.89: low, 40.66. 20 UTILITIES Yesterday Week ago Month ago ..... atistrreieans Year ago High, 1937, High, 1936,

37.54; 36.08:

low, low,

+0.52 —0.12 +0.10 +0.32 low, 357.3%. low. 351.20.

69.67: 66.38;

High, 1937, High, 1936,

N H Last Change Mo-K Tex pf .. 25: 252 Ya Mo Pacific . Mo Pac pf Morrell Mother Lode

Nash-Kelv je Dairy

1034 39 Se 382 . 415g

Nat Supply Newport Ind Y Central Amer 38 | No Amer pf ... 54l2 No Am Avn .-M5h No Pacific . 30%

Oliver Farm Eq Otis ey Otis Ste Owens om lias. 102 102 —Pu 172 3

ide a

Pac Am Fish .. Packard a Panhandle ..... 24 Paramt Pict ... 22s Park Utah .... 65's Patino Mines . 163s Peerless 7! Penn RR 38'2 Pere Mqt pf ... 76 Pet Corp Am .. 18% Pfeiffer-Brew .. 8 5234 138 93 . 61 . 151% . So

Phillips Pet Pitts Sc & B Plymouth Oil Poor nix Public Serv Pullman . Pure Oil Purity Bak

Raybestos . Rem-Rand ... Reo Mot Republic stl Revere Cop Reyn Met Reny Tob B

rts

Schenley Dist Seabd Air L pf bd Oil Roebuck

Silver King .. Simmons. Socony Vacuum 2 South Pac .. 5 South Ry

U. S. STATEMENT

WASHINGTON, Aug 5.—Government penses and receipts for the current ESN vear through August 3, compared with a year ago: This Year Las Tos. 317.437.28 $ £51870 306 73 in. 409.538. 3 907.898.7 2 28. 1403.618. 6 970,981,435.15 s 12.459,636.185.77 Pub debt 36, 18. 31s. 036.22 Customs 4.220.83 Saar : Purch. $ 7.405.473.97

Expenses $

Receipts

33.425.490.483.98 34,293,533.53 1 Purchase

Tota Inac gold $ 1.228.214.446.27

FOREIGN EXCHANGE

NEW YORK. Aug. 5 —Opening foreign exchange irregular. Cable

d) $498 (pound) $ 4 (0-abr 431 Englan (60-d.b.r. 4.974 : ; France (franc).. .0375 -—.00001% Italy (lire) : 528%, +.0000's Belgium (belga) German (mark) 24 —.0000!2 Switzerld (franc) sas ; Holland (guilder) .5510 4.000112 Spain (peseta) unqnoted Swenden (krona) .2568 Norway (krone) 2502!> Denmark (krone) .22237:

BROKERS’ OPINIONS By United Press NEW YORK, Aug. 5.—Brokerage opinion today— E. A. PIERCE & CO.—We would anticipate selective strength, with the possibility that the industrial may receive assistance from the rail group if the wage settlement is reasonably satisfactory. REDMOND & CO.—Some further irregularity around current levels is in prospect. HORNBLOWER & WEEKS—We feel that if the railroad group can show continued firmness. a generally strong stock market will be witnessed throughout the remainder of this week, and carry-over into next week. SHIELDS & CO.—While the business promise remains unchanged, the outlook for higher prices should prevent any selling of importance and warrant buying on reactions. J. S. BACHE & (CO0.—So far as the nearby trend of the general list is concerned. the line of least resistance appears still to be on the upside. FRAZIER, JELKE & CO.—We are bullish on the market, especially favoring coppers, utilities and motors.

MONEY MARKET

NEW YORK, Aug. 4 —<~Money rates remained unchangea todav. nker's Acceptances &0 davs. >@ %: 60 and 90 davs, +=@7-16%: 129 , 9-16@%2%: 150 and 80 davs. %@

Commercial Panes Plime names, 1%. e Money—60 a gr davs, 11404: 120 150 The 160 davs, 3550 Rediscount rate at New York. 1159.

Net Change

England . 100 1-64

Canada

—.0001 —.0000'%

For Final Stock Quotations See Later Editions of

The Indianapolis Times

PRICE INDEX

DAILY PRICE INDEX

NEW YORK, Aug. 5—Dun & Bradstreet’s daily weighted price index of 30 basic commodities, com- | piled for United Press (1930-1932 average equals 100):

Year ago Rt | 1937 High (April 5) 158.26 | 18 1937 Low (July 29) 140.60

Yesterday ........ 140.89 | Week ago ........ 140.60 Month ago . .. 146.79

Following are the COMModity prices used in compiling the

daily price index.

Today $1.15% 1.0514 B1% 291% 5.65 Jd140 0914 0350 311% A285 0650

Commodities—

CEE

2 yellow bu.)

Corn No. Rye, No

(bu.) white (bu.) Flour. spz. pat (196-1b. sk.) ... Lard. prime steam spt (Ib.) ... Coffee, :Rio 7s spt 1b.) Sugar. raw 96 test (b.) Butter. 92 score (Ib) es... Hogs, avg. most sales (Ib.) .... Steers, avg. most sales (Jb.)....

casas

AND COMMODITY QUOTATION S

Commodities—

Silk,

ab.) ub.)

Lead. spot Zine spot Tin. Silver. comml. Steel.

ear zo $1.167%% 111% 91g A5% ".525 1183 08 0365

“iro 81.2215 1.0214 86 32 v.83 119% 0914 0350 311% 1235 0650

scrap and hides.

Lambs. avz. most sales (1b.) ... Hides, native hvy steers (Ib.).. Wool, fine unwashed comb. ib.) Cotton mid-upland 1b.) 13-15 deniers Jap. (1b.).. Rubber. spt. smk. rib. Copper electrolytio (Ib.)

straits spot (ib.) Bars (oz.) scrap Chi. (ton) ... ... Fig iron. Iron Age com tton).. Coke, Connelsville (ton) Cement, dom. Portland tbbl.).. Yeliow pine. 6-in. base (m ft.).. Douglas fir rough tm. ft.)...... Gasoline. tank wagon (gal.)... Crude oil. 40 gravity (bbl.).... Sources of Quotes—Chicago: Boston: Wool. nelsville: Coke. Tulsa: Crude oil. New York: All others.

Year Ago $ .1000 A115 331% 1205 1.81% BLE 0934 0460 0490 4234 A434 14.25 18.84 3.50 2.25 50.00 38.00 087

Week Ago $ 1110 183% Al A121 192 JAR32 A4 060214 066215 59 A434 15 23.23 4.35 2.95 680.00 52.50 093

iis 3.1100 183% 41 A124 190% 1850 a4 06271 066214 59 A434 19.73 22.25 4.35 2.25 60.00 52.30 095 1.2% 1.27 1.18

Grains, livestock, lard, steel East St. Louis: Zine. Con-

ub)...

sessen

ia So MAY DECREASE

LATEST NEW YORK STOCKS

Net Last Change 7% + a 23 12 22% 502 443, 697s 185s

Spalding Spiegel Inc .... 2 Std Brands .... 1

Studebaker . Sunshine Min.. Superhtr ser Superior Oil ... Syming Gould. .

Tenn Corp ... Texas Corp .... Tex G Sul

Transamerica

Trans West Air 151%

Union B&P

. 80! Union an A Cal

Walker (h) Walworth Wa

| West ATS . es ir Bke. 42 Wheel Steel .... ot | Wilson & Co.

i Woolworth i»

| Yellow Tr

22% | Young Sheet s

- Sg 90

Less Consumption by Auto And Rail Industries May Cause Decline:

By United Press PITTSBURGH, Aug. 4 —The present high rate of steel production may decrease slightly in two or three weeks as the automobile trade and the rail manufacturers decrease their consumption, the American metal market said in its weekly Iron and Steel Review. The Review, predicting production of steel ingots at 86 per cent this week, up one point in a week, said: “The current rate is a notably i high one, for March and April, the | best months in the recovery, aver{aged 90 per cent and then there {was stocking by buyers on account { of price considerations and to an- | ticipate possible labor troubles in | the steel industry. Now there is no | stocking by consumers and only a limited amount by jobbers replen- | ishing inventories in certain lines. “The high rate of production and | shipments is in the face of light | movement to the automobile indus-

try, involving probably less than one y

half as much steel as in March and | April. The Ford closing two and a half weeks ago helped to bring down the rate of assemblies to a little under 90,000 a week, this rate being well sustained. Ford will resume next Monday and it is thought partly on new models. At the same time activities by most other makers will decrease. The steel trade believes that the average date of model chances will come a little later than last year, when it fell just after the middle of September. The labor outlook will affect the matter, an important point being termination of the General Motors agreement on Aug. 11. “While it is said tnat shipments are so heavy partly because mills are decreasing their backlogs, it may well be assumed that consumers would call for lighter shipments if they did not have immediate use for the steel. Nearly all consuming lines are running at high rates, farm implement and refrigerator makers being mentioned as conspicuous examples. “The outlook is for somewhat lighter production and shipments in the next two or three weeks as rail manufacturer is virtually ended for the season and the automobile trade will take less steel. Rail buying is expected to develop again in September.”

N. Y. CITY BUDGET LARGEST IN 6 YEARS

By United Press NEW YORK, Aug. 5—One of the largest municipal budgets in American history, expected to total $590,000.000 for 1938, was in the making here today. i Sources close to Mayor F. H. LaGuardia and Comptroller Frank J. Taylor estimated that the 1938 budget would be $28,000.000 larger than last year's $562,998.917 and but $10,000,000 smaller than 1932's record budget of $609,928,731. The only other budget in the city’s history larger than 1938 estimate was that of 1931 which totaled $600,538,081.

INVESTING CO.’S

(By the New York Security Dealers Assn.)

Bid. Ask.| Adm Fd .19.11 20. 33 KCF-K-1 Affil Pd 10.29 11.32 ROP-K-3 Am H Cp 26.87 28.50 KCF-B-3 Am Bus 1.2 1.35 KCF-B-2 Ban BI 8.87 9.75Md Fund Bas Ind 5.18 IMs I Broad St 36.50 : Bull Fd . 22.25 12.54 Bot Fds .25.26 7.80 5. 73 HR See 4.52 atw te 2.12 E Fd ..19,

£ a Ac m 313 r Fiscal Fds Inc Bk Stk . 3

ht 8313 03

et TOC i ED DE BS oe CY CD ht ht OB 3 MS Te CIES ND DD re Dh 13

WO phen pb pe BI pc JT IIH

=o, ay | SOL AD edd GIS os .

~ >a

3 2. SHINO ®

BEIRII5

wen A =-3

3 LORY re POUTES ~T~T

i >’

2.58 g| $13.15

PORKERS FIRM AT $11.30 TOP INLOCAL TRADE

Hogs Maintain 11-Year High as Light Receipts Prevail.

Following six successive days of advancing markets when the top was carried from $12.90 to $13.50, a new high in 11 years, the upturn in hogs was checked today, according to the Bureau of Agricultural Economics, United States Department of Agriculture. Higher prices at some of the other leading centers failed to push the top above $13.50,

ing bids on sows were 25 cents low-

er, but the steady trend on barrows » and gilts later held the sow market * lon a steady keel. Bulk sows moved lat $10.75 to $12. Strictly grain-fed steers again moved readily and prices were fully steady. Four loads of prime Illinois fed steers scaling 1159 pounds and 1252 pounds turned at $16.85, a new high since 1929. There were two loads of each weight at the price. Short-fed steers and yearlings, and particularly grassers wer eagain under pressure. All heifers met an indifferent outlet to sell weak to lower, A few head topped at $14. Cows made up bulk of the day’s crop and sold readily at fully steady rates. Cutter grades had a range of $3.75 to $5.25, with grass fat cows mostly $5.50 to $6.50. Sausage bulls downward from $7 were steady. Stockers and feeders moved at steady rates. Trading on vealers was about like Wednesday, although buyers tried to buy supplies sharply lower. Upturns at nearby centers and a good dressed trade, however, largely prevented the decline. Good to choice vealers held at $11 to $11.50, with lower grades mostly $10 downward. Lambs cleared at unchanged levels, failing to react to another break in dressed values at Eastern consuming centers. Good to choice ewes and wethers bulked at $1$.50 to $11.

HOGS July 29. 30. 31. a 2 4. [email protected] Light Lights— (140-160) Good and Medium

M Lightweights— (160-180) Good and Medium ...... (160-200) Good and Medium .... Medium Weights— (200-220) Good (220-250) Good Heavvweights— (250-290) Good (200-350) Good Packing Sows— (275-350) Good (350-425) Good (425-450) Good (275-550) Meam Slauthtel Pig. (100-140) Good and choice . Medium CATTLE —Receipts, 1000— ..$12.75@ 15.75 [email protected] 9.007211.50 6.507 9.00

Receipts 2000 4%

3000 3500 2000

' Bulk $12. 70 13. % [email protected]

13.40 [email protected]

. [email protected] .. [email protected] . 13.25@ 13.50 [email protected]

[email protected] [email protected]

11.50@ 12.00 . [email protected] 10.76611.25 . [email protected]

11.35@ 12.60 [email protected]

choice $3 3a

choice . and choice. . choice. choice .

(500-900) P (900-1100) Good

(1100-1300)

. [email protected] . 16.007 16.85 . 14.504 16.00 . [email protected] 16.00@ 16.585

(1350-1500)

Heifers

Choice Good : Common ‘ Good an dchoice . Common, medium

. [email protected] . 10.757212.75 5.75410.75

(550-750)

(750-900) 6.006 10.75

6.50@ 3 35 6.50@ 8 5.25@ 6. 20 3. jaa 5.25

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

Good (beef) : Cutter, common .

Good and choice Medium Cull and common

—Receipts, 700— Steers—

(250-500) Good and choice $ 9.504 11.50 Comman, medium 7.00@ 9.00 Feeder and Siocker Cattle Steers (500-800) Good and choice § Common, medium (800-1050) Good and choice . Common, medium

= Sm mo=S

— oSWoD OOOO

Heifers— Good and choice ‘ Common and medium

SHEEP AND LAMBS —Receipts, 1800— Spring Lambs— Choice ....

08 9923 a3

ye 00 he Dime FwDDd SSO

2993

Shorn Ewes—

(80-175) Good and choice . Common, medium

By United Press

CHICAGO, Aug 5 , including 1500 directs;

higher packing So fully top, $1 3.65; bul and 60 lbs. $13. 50@13. 60. 340: 300 150-170 1bs., 313.50@ most good packing sows, $11.25@

Cattle—Receipts, 5000; calves, 1200: meager sully fed steers and yearlings; market, strong to shade higher; choice cows and good heifers and mixed yearlings, bulls and vealers, steady; best fed steers, $17; few loads, $12.50@ 15.50, but crop mostly grass heifers selling [email protected]; fat cows, [email protected]: sausage bulls, $7.35 down; vealers, $12 down. Sheep—Receipts, 12,000, jicjuding 7500 directs; uneven, around steady 25¢ lower; native springer, $10. Tart 28 bulk, $11 up; 11.35 top: Swes, [email protected] hescueitite auntie $5.5

Hogs— Receipts, Jakke, 15@ hogs, 260

13.60; 12.15.

NE, g. Nov: 200 be '

1200-225 lbs. Sos. Rg 315 Ips. , $12 85; 275- 300 a, ’ 3 150-160 bs: ' Ha 38 130-140 bs 120 i 0 1bs.. $11.60: 100-120 The. Roughs, 30 15; ae $0.50; calves, lambs, $10

AT Aug 10c bihet: 25-250

to 813. 25@ 13.35; 250-285 lbs. $12. 208012, 45; 50-170 » ;

steady.

5 —Hogs—Market,

BUSINESS EDUCATION

Strong Accounting, Bookkeeping, Stenographic and Secretarial courses. pay, apd Syening fost salons. Lincoln 8337.

Central Business College

rohitects and Builders Buildin ng FI vania & Vermont Sts. Indpls,

ACTIVE MARKETS

BONDS — IT. P.

Merchants Bank Bldg. Fort Wayne

BURKE

South

All Indiana Issues COMMON STOCKS

INCORPORATED INDIANAPOLIS

PREFERREDS & COMPANY

RI-8535.

Terre Rauie

Bend

steady prices taking the crop. Open-

10.75 14.50 |

New York Bonds

BOND PRICE INDEXES 20 20 20 Ind, Rails Util 91.9 91.6 101.9 91.3 92.4 A018 91.3 92.4 100.3 Year ago 91.8 95,3 103.6 Two years . 893 9.4 100.7 1937 High ..... 95.0 101.2 106.0 1937 Low 20.8 90.1 99.3 1936 High 4.8 1004 106.2 1936 Low 90.0 84.7 103.5 1935 High 91.4 86.4 103.6 93.1 1935 Low . 83.6 71.0 89.3 83.0 (Copyright, 1037, Standard Statistics Co.)

U. 8. GOVERNMENT BONDS Treasury Bonds

60 Bonds 95.2 95.2 94.6 97.6 89.8 100% 93.4 100.2 93.3

Yesterday Week ago .... Month ago ....

Last 103.11 117.00 105.20

99. 101.16

Low 1

99.1 99.1 1960- 55 101.16 101.16 Home Owners Loan Bonds

1949-39 101.11 101.1 1952-44 103.4 103.4 Federal Land Bank Bonds 01? 101% 101% 1013 103 110% 1014 102% 1 101's ..103% 104 DOMESTIC BONDS

§%

5s 53 (M) 49

Abitibi Alleg Corp 5s Atl Coast L 4'2s 6 ve § B & O ref 5s D 2000 .. & O 4'25 60 .. . an Pacdeb 4s perp vee § Cen Pac 58 60 . 94 Ches & Oh 3':s 96 wl Ch MStP & P 5s 75 Ch M St P & P 55 2000 Chi N W 4%s 49 ‘ Chi R1 4';s 60 ‘ Chi ‘W Ind 4'4s 62 .. Clev Un Ter 7

Ill Cen 4%:s 66 Int T&T 58 58 .. . Int T& T cv 4); 5 30 . 9% Mo Pacific cv

Nw Eng T & T 55 52. NYC St L ... ews Pa P&L 4; s 81 en. Postal T & C 5s 53 ... Rep Stl O 4';8 50 So Pacific 42s 81 ... So Pacific col 4s 49 Sou Ry gen 4s 56 Stan Oil NJ 3s 61 { Va Ry Co 3%s 66 1.105%, West Union 5s 60 891, FOREIGN BONDS

Argent 4!5s 7 Australia 5s 55

Bankers Trust Central Hanover Chase National Chemical Bank & Trust Guaranty Trust ... Irving Trust Manufacturers Trust National City «sien § Continental Ill Natl. Chicago . First National Bk. Boston .. National Shawmut Boston .... National City, Cleveland Fire Insurance

Aetna Fire . City of New Foaderal .... Franklin Great American Hanover Hartford Home . ‘avis National Fire North River

‘York |

U Westchester Casualty Companies

Continental Casualty Mass. Bonding & Insurance

FOOD PRICES

OHICAGO. Aug. 5 —Sweet Tennessee, bushel baskets [email protected] 75¢1 81. $1.50@ 1.75 crates, $R.75@ 1.85. hampers, $1.85. crates. 25c¢@50c. Caliteriia. vellows, 75¢

Illinois. bushel, fornia, lugs, ‘Washington, Washington, Michigan, flat (50 1b. sacks). Washington. V Valencias

BITUMINOUS COAL

$1:

Another step toward coal price fixing under the Guffey Act will | be taken by the Bituminous Coal | Commission this week as it begins

discounts to be allowed wholesalers. It will also determine who shall be classed as wholesalers. The Commission announced that “while the wholesalers are not members of the (coal) actions can be effectively controlled by the penalties available against producers who may, in their dealings with wholesalers, violate the code or the 1egulations of the Commission.” Tactics of wholesalers have been blamed in large part for the chaotic condition of the coal industry, which induced Congress to pass the Guffey Act.

Carloadings Up

FREIGHT CAR LOADINGS (AM. RAILWAY ASSOCIATION)

HHH

FIRST SIX MONTHS

MILLION CARS

HIM

0 W 193) 1932 1933 1934 19235 1936 1937

THE PARKER CORP GENERAL DISTRIBUTORS

INCORPORATED INVESTORS

BOSTON, Aug. 5. — Our railroads hauled more freight cars in the six months of this year than in any like period since 1930. The increase in freight car loadings the first half of 1937 over the same period of last year was 14 per cent and over the first half of 1933, the depression low, 50 per cent.

WHEAT PRICES GAIN SHARPLY IN CHICAGO PIT

Corn Futures Advance More Than 2 Cents as Oats Follow.

By United Press CHICAGO, Aug. 5~—An advance in the price of corn carried wheat sharply higher today on the Chicago Board of Trade. At the end of the first hour wheat was 1 to 1% cents higher, corn was 2% to 2% cents higher, and oats were “s to 1% cents higher. Mill buying of December wheat carried the nearby month more than

a cent higher and other morths were purchased in good volume. Earlier weakness based on soft prices in Liverpool disappeared as the domestic corn market strength ened. Wheat receipts were 295 cars. Light offerings of corn were well taken and prices bulged more than 2 cents. Some selling appeared on the rise but these profit- -taking offers were well absorbed. Commission house buying, short covering and cash buying of September started the upturn. Pacific Coast interests have begun to make inquiries about Mississippi Valley corn and traders look for heavy shipments to the West starting about Oct. 1. Corn ree ceipts were 4 cars.

WAGON WHEAT

City grain elevators are pay 2 red, $1.02; other grades Re t Cash corn, new No. 3 yell 23c. Hay—No. 1 timothy,

ARGENTINE GRAIN BUENOS AIRES, Aug. 5.— ovened LR rR Grain futures heat—August, $1.26% unchanged; September, $1.237; unchanged Fd August, 55¢, unchanged: September, 55'¢, unchanged. Oats—Spot, 29'>c, unchanged. Flax—August, $1.36's, unchanged: Septeme ber, $1.36%, unchanged. WINNIPEG WHEAT October December May ..

Potatoes—

Carrots—Illinois, bunches, 2@ 3c. Spinach— Tomatoes—CaliCauliflower— Peas Celery— Onions—

HEARINGS ARRANGED

hearings to determine maximum

code, their

CANADIAN STEEL PROSPECTS GOOD

Times Special TORONTO, Aug. 5—~Ross H. Mc= Master, president of Steel Co. of Canada, Ltd. in a letter to share= holders accompanying current divie dend, today stated that steel make ing operations have continued at full capacity over the second quarter.

“New orders,” he said, “have ale most equaled shipments so far as the more important lines are con= cerned, and unfilled orders on June 30 were but slightly lower than on March 31. “Additional capacity will be proe vided by the new open hearth furnace, which commenced production the latter part of June.”

PLAN CAPITAL

NEW YORK, Aug. 5.—Stock= holders of Dewey & Almy Chemical Co. will vote Aug. 13 on a

plan for simplification of the corporate structure proposed by the bodtd of directors, it was reported today. The plan contemplates the elimi nation, through call or exchange, of | the four series of preferred stock now outstanding, a reduction of senior dividend requirements and the raising of a moderate amount of new capital for expansion of the business.

GETS GERMAN CONTRACT

Times Special CHICAGO, Aug. 5.—H. A. Brassert & Co., of Chicago, have been awarded a contract by the German government for construction of three new iron and steel plants, 1t was announced. The mills will be located on native ore deposits, one in north Gere many near Brunswick, one in Bae varia and one in Baden. All three will use the new basic Bessemer proe tess,

VOTE

| | | {

CHICAGO HOGS GAIN By United Press CHICAGO, third straight day | touched a new nine-year | the Chicago Stock Yards. A top price of $13.50 was paid for choice 260-pound weights in early trading. Today's price dates back to Sept, 17, 1928. Anything over the pres ent hog peak wili date back to 1926 and traders were of the belief that the present upturn would carry prices quite a bit higher,

NEW SALES ( OFFICE By United Press PITTSBURGH, Aug. 5.—Jones & Laughlin Steel Corp. today ane nounced the establishment of a district sales office in Tulsa, and the appointment of Carl BE, Swindler as its manager.

5~For the hog prices high at

Aug.

Colonial

Savings & Loan Association

MEMBER FEDERAL SAVINGS & INSURANCE CORPORATION “CAN

28 South Illinois St,

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