Indianapolis Times, Indianapolis, Marion County, 11 August 1937 — Page 16

Page PDF (11.16 MB)

Back to issue view

PAGE 16

THE INDIANAPOLIS TIMES

WEDNESDAY,

AUG.

1937

COMPLETE N. Y. EXCHANGE

STOCKS =

The Times Financial and Market Page + =

—

COMPLETE LOCAL LIVESTOCK

. - -

STOCKS IR

REGULAR

IN QUIET MARKET; INDUSTRIALS FIRM

Government Bonds Decline in Light Trade.

By United Press NEW YORK, Aug. 11. — Stocks were mixed in quiet and featureless dealings to-

< ® &% ©

MARKETS AT A GLANCE

Stocks irregular and quiet. Bonds steady and quiet; U. S. Government issues easier. Curb stocks irregular and quiet. Chicage stocks irregular and quiet. Call money 1 per cent. Foreign exchange firm. Cotton futures weaken after

day. Selected industrial issues showed individual! strength, but the various groups failed to develop a definite trend.

Irregularity marked light domestic bond dealings today. U. S. Government funds declined. In regular price movements prevailed in quiet curb stock dealings Hoi _U. S. Steel easiness to 118%, lehem held a loss of 1 point at 99 | and other steel shares were mixed. | Chrysler and General Motors both | held fractionally below their previ- | ous closing levels. Utilities generally | were quiet and steady, while rails developed firming tendencies after early irregularity. tral moved up to a fractional gain |

recovered from early up 1s, but Beth- |

and losses in other leaders were cut | 3

down. Oils were fairly active and firm. | Socony-Vacuum held around 22% up ls. Coppers were dull. Among | miscellaneous issues Eastman Kodak | reached a new high at 185, up 1, Ingersoll-Rand gained 1'2 to 1332, | Loew's reached a new top at 87%, | up 3¢, Sears Roebuck touched a new peak at 98%, up %, and U. S. Rubber rose 1% to to 613. Western Union slumped 1's to 47, National | Supply lost 2 points to 361i, American Can dropped a point, and Allied | Chemical dipped 2 points.

FIRST HOUR

Stocks opened quiet and narrowly mixed. Chrysler opened at 114% and then reacted to 114 for ° point | loss. but General Motors, selling exdividend, steadied at 57%, off ls. U. S. Steel opened off 4 at 118% and Bethlehem at 99 off 1. Coppers and utilities had small losses. Oils | were fairly active with Socony- | Vacuum up 1s to 223s. Rails also were fairly active and slightly softer, New York Central selling at | 40, off 1... National Supply lost 13% | to 3615, Loew's moved up 3% to a new high at Sears Roebuck gained i to a new top at 98!i, and | Western Union dipped 1is to a1. | Sales approximated 140,000 shares, | against 180,00 shares in the first hour yesterday. Dow-Jones aver- | ages: Industrial 186.68, off .30; rail 53.01, off .07; utilties 28.99, off .14. |

SECOND HOUR

The market continued dull and | showed little change in prices. Beth- | lehem dropped to 983: for 14 loss | while U. S. Steel had ': loss at 11215. Rails were mixed as Atchison showed 34 gain at 793% and New York Central gained 3 to 403 but Union Pacific and Chesapeake & Chio were lower. Consolidated Edison had 1% loss to lead utilities. Loew's reached a new high for the vear at 877s. Some of the metals | maintained strength including in- | ternational Nickel and U. S. Smelting. Volume approximated 120,000 shares compared with 180,000 in the second hour vesterady. DowJones Averages—Industrial 186.62, off .16; rail 33.15, up .07; utility 28.99, off .14.

= g =

Today's Business At a Glance |

GENERAL BUSINESS |

American Petroleum Institute, reports gasoline stocks off 1,656,000 barrels week ended Aug. 7 to 69,216.000 barrels finished and uninished; daily crude oil output in- | creased 59,250 barrels tc 3,651,150, a! new high record, and operations were off 2.9 points to 83.1 per cent.

QT1 of 2

Edison Electric Institute, reports!

week ended Aug. 7 electric output | 2,261,725,000 kwh vs. 2,256,335.000 previous week and 2,079,137 ago. Iron Age estimates steel ingot output for this week at 84% per per cent, 2 point below last week.

CORPORATION REPORTS

Best & Co. six months ended July 31 net profit $569,315 or $1.86

a share vs. $508,546 or $167 year | | regular quarterly 40 cents on com- |

mon payable Sept. 30, record Sept. |

ago.

Chesapeake & Ohio Rwy. Co,

week ended Aug. 7 own lines load- | ings 23,125 vs. 24,242 previous week |

and 24,127 year ago. Gemmer Manufacturing Co. and subsidiary, six months ended June 30 net profit $286,930 vs. $194,744 | year ago. Gulf Coast Lines, week ended Aug. 7 own lines loadings 3185 vs. 3074 previous week and 2712 year | ago. International Great Northern R. R. Co, week ended Aug. 7 own

lines loadings 2169 vs. 2163 previous |

weelz and 2268 year ago. Julius Kayser & Co, ended June 30 net income $917,988 | or $2.18 a share vs. $645,842 or $1.51

vear ago. McKeesport Tin Plate Corp, net |

SAFE DEPOSIT BOXES

Reasonable Rental

Security Trust Co. 130 E. Washington

Member Federal Deposit Insurance Corp.

| Am Maracaibo

New York Cen- IE Eag

{ Lion Oil

| Pitts Pi GI

| Armour

| Cities Service

| No west, Cancomn B | Prima | Sik Intl

| loadings 14.890 vs.

| quarterly

year |

fiscal year |

early firmness. Grains irregularly lower in Chicago; Wheat off 15% to 2% cents a bushel. Rubber futures easier. Silver in New York unchanged at 443; cents a fine ounce.

Curb Stocks

By United Press

High How. Alum Ltd 118

{ Alum Co _Am .. Am Box Brd ...

Am Cyan B

Am Super Ark N Gas A Austin Silver Brown Co pf . Carrier Corp Cities Serv Col 0 & G Con Cop Mns ....

— no pt FCO CI BD pt LY pt

Ra ERC A

DOO ~TIL Nerd

DED DWLWOID-ILINNIN

Imp O Can ~

Go a Awe

Lockheed Air McWmns Mesabi Iron Mich Bumper Molybdenum Niagara Pantepec

DBD CY bt BD RI ON

— Pd owe we

BIrars JULWOWS p—

pot [

8 a Ea EE 2)

Prudential In Segal Lock

-r La

Un Gas Cp PL, Un Lt & Pwr A

Chicago Stocks

& Co Binks Mfg .e Cent & SW Ut ..

oo Fd

Cord Corp Dayton Rubber Gen Finance .. Helleman Brew .

~ 1

Midl Ut 6 pr ]

Po a a

Peabody Ci

WB Pr pu fo TERE i ie

2] COED 03 rt ok +4 C0 C1 bt 9 C0 im hn CD

ws WW pe a pe ae Rg go

ah I ion ata in Zor nith Radio

nd w an w

| profit Jan. 1 to July 3 was $773,373. Missouri Pacific R. R. Co., week | ended Aug. 7 own lines loadings 16,784 vs. 17280 previous week and 16,1C1 year ago.

New York, Chicago & St. Louis |

| R. R. Co., week ended Aug. 7 own |

lines loadings 56839 vs. 5859 previous

| week and 5415 year ago.

Northern States Power Co. week ended Aug. 7 electricity output | 24,771,495 kwh, off .1 per cent from year ago. Pennsylvania Glass Sand Corp. and subsidiaries, second quarter net

| profit $225,057 or 56 cents a share | | vs. | quarter;

$175,264 or 40 cents preceding | six months net profit $400,321 or 96 cents a share vs. $191,165 | or 31 cents year ago.

Pere Marquette Rwy. Co,

ago. St. Louis-San Francisco Rwy. | Co., week ended Aug. 7 total lines | 14,968 previous | week and 13,290 year ago. American Chain & Cable Co, Inc. six months ended June 30 consolidated net profit $1920,247 or

{ $1.83 a share vs. $1,221,335 or $3.69 | year ago. .

DIVIDENDS

Continental Steel Corp., 25 cents on common payable Oct. 1, record Sept. 15. J. J. Newberry Co., regular quarterly 60 cents on common payable Oct. 1, record Sept. 16. Julius Kayser & Co., 50 cents on common payable Sept. 1, Aug. 20. Pennsylvania Gas & Electric Co., regular quarterly 37'2z cents on class “A” common payable Sept. 1, record Aug. 20. Pleasant Valley Wine Co., 5 cents payable Sept. 1, record Aug. 20 vs. like amount on June 1 and Feb. 1. Powdrell & Alexander Inc. 20 cents payable Sept. 15, record Sept. 1 vs. like amount on June 15. Ruud Manufacturing Co., Extra | 10 cents and regular quarterly 15 | cents on common both payable Sept. | 16, record Sept. 6 and also 10 cents extra and regular 15 cents payable Dec. 16, record Dec. 6.

Spencer Kellogg & Sons, Inc,

| 15, Berghoff Brewing Co. regular quarterly 25 cents payable Sept. 15 record Sept. 4. | Electric Storage Battery Co., reg- | ular quarterly 50 cents on common | and participating preferred payable | Sept. 30 record Sept. 10. | R. Hoe & Co. $1267 on 6% | per cent prior preferred payable | | Sept. 1 record Aug. 25 and $4.41 on | 7 per cent preferred payable Sept. | | 4 record Aug. 28. Skelly Oil Co. 50 cents on com{1 vs. like amount on July 1. (Copyright, 1937, by United Press)

week ! | ended Aug. 7 own lines loadings 6094 | vs. 6215 previous week and 5021 year

regular |

record |

mon payable Sept. 30 record Sept.

By United Press

Net Last Change Adams Exp ... ] 1874

Adams-Mil .... Allied Stores

Arnold Const “ie Asso Dry Go Atchison Atlas Corp

Bald Loc Bald Loco as .. Balt & Ohio ... 35

. of Decker 29 Borden : . 28% Borg-Warner

Black &

Butler Bros pif. Calumet & H

Carpenter > ne Sl Carriers & Gen Cerro de Pasco. 753% . 11%

ysler 1 114% Cleve Graph Br 467s Colgate-P-P 1812 Colum Gas .... 13% Com Inv Tr 651” Commonw & So 27% Cons Edison pf 103% Cons Laundries Cons Oil Container PEL Cont Bak B Cont Can Crown Zeller Curt Pub pf ... curtiss-Wr ..... Curtiss-Wr A ..

~3t3 OU Ires ~1LI DN DC SILI Aes © rd a - ER ot Nee

401% —E— Eaton Mfg ..... 353% Elec Boat 1134 { Elec & Mus Ind 5% | Elec Pwr & Lt. 223

“a8 r= 59%

Dome Mines ... 40%

35% 1134 538 223%

| Fair Morse Fid Phen Firestone T Foster Wheel Freept-Sulphur

Gair Robt Am Inv Baking ... Electric ... §

Out Adv . Refract : Gen Thtre Eq.. Gillette S R ... Glidden Goodrich Goodyear AE Goodyear pf .. Granby . Vas Gt North nf ... Grevhound Cp.

Hall Print | Hecker Prod | Holly Sug Homestake ak | Houston Oil ... | Hupp Motor ...

ta Cu et pt I TOD rt +t er Dp oo Wm aw

| Inter Iron .... 1t Harvester.

i D | Kennecott Kresge SS

I> eh V Coal »f.. Lehman

s | Mont Ward

| Nash-Kely .... 1812

| recession of

-O-F Glass Life Savers . | Lia Carb | ew's arin Lorillard

| MacAn

FOREIGN

NEW YORK, Aug exchange irregular. Cable Rates

Change England (pound) 4.08% 4.007% | Eng. (60-d. bill rate) 4.97% +.00%% | Canada (dollar) .. 99 63-6 iil { France (Franc) 0375 3-16 —.0000 3-16 | | Italy (lire) ... .J05263% 4.00005 | Belgium (bel gay -. .1684 +.0000% Germany (mark) 4023 —.0001 Switzerland (franc) .2298 4.0001» Holland (guilder) .. .5516 4.00012 Spain (peseta) . Upauoted Sweden | Norway 330815 Denmark (krone) 3338 Japan (yen) . «420910

. YT ay U. S. STATEMENT WASHINGTON, Aug 11.—Government Bough and receipts for the current | scal yea rthrough Aug. 9, compared with a year ago:

& Fr... 2

EXCHANGE

| | | 11.—Opening 1qreiRn

(Krona) 0s (krone) —.0001'2

87 3 R05. 586. 15 § 621,428,401.95 257,177, S04. 20 Cash bal. 2,283,477,204.86 Work. bal. 1,070,627,090.65 Pub, debt 36,812,390,024.91 Gold res. 12,484 417,493.87 Customs Tess Vis. 629.22 s purch. Inactive oi % “465, 496.01

LAND BANK BONDS

Bid Ask Yid. 3s July 1955-45 101 1-16 101 5 16 2.82 | 35 Jan 1956-46 ....101 1-16 101 5-16 2.84 | 3s May 1956-46 101 1-16 101 5-16 i 314s May 1955-45 a3 103 4s July 1946-44 .. 11015 4s Nov 1957-37. 101 4s May 1958-38 : 10234 414s May 1957-37 3 101 44s Nov 1958-38 ..103%% 104

MONEY MARKET

NEW YORK, Aug. 11.—Money rates re- | mained unchangea todav | Banker's Acceptances -— ay 60 and 90 days, “2@7-16%: Sa 9-16@'2% 150 and 80 davs Commercial Paper—Prime names, 1% Time Monev—60 and 90 davs, 1%: 120 150 and 160 days, 1%2% Rediscount rate at New York. 115%

FOOD PRICES

CHICAGO, Aug. 11. —Sweet Fates = Tennessee, bu. hampers, $1.2541.35. ca rots—Iilinois, hes, 1@2c. Ia ch— Hlinos. 06 3 Tomatoes—Tiinois. flats, 10@ , Caulifiower — Washington, crates, $1.75 ® Pons —~Washington, hampers, $1.50. Celerv—Michigan. flat crates, 35% 45c. Onions (50-1b, sacks)—lowa, vellows, 800: Wisconsin, vellows, 80/@85¢c: California, whites. $141.25; Illinois-Indiana, vellows, 40@85c.

{| Expenses § Receipts

a} 7303 74. 18 1,981 | Deficit

,531.49 id 423,542.69 2,148,475.333.35 1,686,089,590.08 33,411,440,611.98 10,655,521,383.78 40,334,007.55

Total purch. $1,252,992,529.32

30 days. '2@ 129)

%B@

For Finai Stock Quotations See Later Editions of The Indianapolis Times

LF I I ER STENCILS Cc MIMEOGRAPHING RU.ED FORMS SERVICE “i: WO NOTAR

315 Merchants Bank Bldg u-6122

TYPEWRITTEN LETTER: AUTOMATICALLY TYPEE 'DDRESSING & MAL INC MU .T GRAPHING

np Thomson & McKinnon

NEW YORK CHICAGO TORONTO SOUTH BEND FT. WAYNE EVANSVILLE BOSTON CINCINNATI

Indianapolis Office 200-214 Circle Tower

MEMBERS New York Stock Exchange New York Curb Exchange York Cotton Exchange New York Coffee and Sugar Exchange New Orleans Cotton Exchange Chicago Stock Exchange Chicago Board of Trade Winnipeg Grain Exchange

And Other Leading Exchanges

| ducers

LATEST NEW YORK STOCKS

DOW-JONES STOCK AVERAGES

30 INDUSTRIALS +0.23 +0.89 —0.33 +1.19

Yesterday Week ago Month ago Year ago High, 1937, 194.40: low, 165.51. High, 1936, 184.90; low, 143.11. 20 RAILROADS Yesterday Week ago Month ago Year: ago High, 1937, High, 1936,

61.16;: low, 50.1%. 59.89; low, - 40.66. 20 UTILITIES 29.13 29.37 . 28.11 35.45 37.54; low, 25.45. 36.08: low, 28.63. 70 STOCKS

Yesterday Week ago Month ago Year ago High, 193%, High, 1936,

| | Yesterday

Week ago Month ago Year ago High, 1937, 69.67: High, 1936, 66.38;

tow, 57.57%. low, 51.20.

Net Low. Last. change Macy RH 4 Marine Mid ... McCall La “ McGraw H .... 18 McKeesport ... McKess & Rob. Mident Pet .... Midland Stl ... Minn Hny . 643%

—N

+14 4s

8 64's

18'2 213% 257s 30%s 1314 393% 983s 37's 93s -40 272 291;

. 2124 332

Acme :h Cash Reg . Distillers .. Gypsum

Nat

Jo Fb fC

Oliver Farm Eq 67 Otis Elev 42 42 Otis Steel .. 2034 205% Owens Ill Gl.. 110314 103

Pac G & El Pacific Ltg Packard Panhandle Paramt Pict : Para Pic 2 pf . Park Utah

SUMMER RECESSION HELD ONLY NORMAL

..| Declines in Some Industries

| leading oil companies have decided

Offset by Activity in Gthers.

Times Speciat BOSTON, Aug. 11.—The summer industry is not more than seasonal, with August probably marking the low point of the summer breathing spell, United Business Service reported today. Unusually active operations in the steel and other heavy indsutries are

| tending to offset curtailment of au- | tomobile and textile output,

the service points out, while somewhat less than seasonal gains in carloadings are being balanced by near record electric power production. Machinery, agricultural equipment and other heavy goods proare still booked several months in advance, and no let-

| down is in S In sight, the report states.

BROKERS’ OPINION

NEW YORK, Aug. 11.—Brokerage opinion today— REDMOND & CO.—We continue to think that irregularity will gradually give way to higher prices with the tempo of trading increasing as the market tends to strengthen. LAMBORN, HUTCHINGS & CO. —There continues to be a definite lack of ability or any strength to follow through, and this negatively unfavorable factor is offset by a similar lack of pressure to sell. The stalemate continues, and will likely

| continue until political uncertainty

clears a little more definitely and a fresh buying incentive develops. HORNBLOWER & WEEKS—It seems to us the rails are succeeding in absorbing in a satisfactory manner the doubt and uncertainty which exists over the wage situation. SHIELDS & CO.—Except for adjournment there is nothing ahead te chance the character of the market much between now and the Labor Day holiday. FRAZIER, JELKE & CO.—In spite of the outlook for continued irregularity, some groups such as motors, mail order and other merchandising stocks, farm machinery issues and rail equipments look promising. ATKINS, HAMILL & GATES— Confidence in the fall outlook is still growing but with several weeks more of the summer business slack tide ahead it does not seem that much should be expected of the market.

INDIANA LIVESTOCK Bii00 oe BTA Hi: ie: 1bs.,

bs.

Net High Last Change Parker Rust Prf 27'% Patino Mines .. 17 Pen & Ford ... 48 Penn R R ... 7 Phila Read C I. Phillips Pet Proctor & G . Pub Serv 6 pf. . Pure Oil 2

Reyn Met

Schulte R . Sears Roebuck. . Sharp & D Setony -Vacuum So Cal Ed

Sterl Prod.. Stew-War = Studebaker Superior Oil.... Suth Pap “ 3 Syming-Gould. 17% 17! Te

Tenn Corp 14%

Tex Pac LT ... Tide W A Oil... Timk-D Ax.... 2

Union B & P.. Un Oil Cal.... Un Pacific Un Air Lines.. United Corp

Light

| reau of

PORKER PRIGES DROPS SHARPLY IN LOCAL TRADE

Shipping Demands Send Hogs Down to Top at $13.20.

Another wide open break was in prospect for the hog market today. Trading had not been established late in the forenoon, bids ranging up to as much as 40 cents lower than Tuesday, according to the BuAgricultural Economics, United States Department of Agriculture. Prices closed 30 cents lower on weights above 160 pounds and 25 eents lower on lesser weights. The bids placed top hogs at $13.20, or 55 cents under Monday's 11-year peak of $13.75. Sows sold at steady levels on the early rounds, or $11 to 811.75 for bulk good kinds with

United Cp pf.. United Drug... Un Gas Imp « H IJ S- Pipe & P.. | U S Smelt . U 8S Steel.....

I+i1ELL

| +

Walworth Warner Bros Wes Oil & S West Pac White Mot . Wilsoft & Co.... Woolworth

Yellow Tr Young Sheet

OIL UNITS UNITE ON FAIR EXHIBIT:

Thirteen Companies Join to Present Petroleum’s Story To Public.

Times Special I

NEW YORK, Aug. 11.—Thirteen

to pool their efforts in presenting an exhibition for the industry at the New York World's Fair 1939, it was announced.

For this purpose the Petroleum Industry Exposition, Inc., has been set up to purchase a plot on the main fair avenue for $22,177 and erect an exhibition hall. President of the exhibition company is Thomas H. Taylor, of Standard Oil of New Jersey, who has signed a contract with Grover Whalen as president of the Fair Corporation. “We intend to carry out the spirit of the fair,” said Mr. Taylor, “by demonstrating how the comprehensiveness of the petroleum industry, and all its companies and individuals, is contributing to human convenience and happiness and is promoting economic welfare.” Members of the Board of Directors, each representing a participating oil company, are: R. E. Wilson, American Oil Co., New York; H. B. Stone, the Atlantic Refining Co., Philadelphia, Pa.; H. D. Frueauff, Cities Service Oil Co., New York; C. H. Hathaway, Guif Oil Corp. Pittsburgh, Pa.; L. S. Wescoat, the Pure Oil Co. Chicago, I11.; W. C. Burns, Richfield Oil Corp., New York, N. ¥Y.; R. R. Griffin, Shell Union Oil Corp., New York; D. T. Pierce, Sinclair Refining Co. New York; B. B. Jennings, SoconyVacuum Oil Co, New York; T. H. Taylor, Standard Oil Co., of New Jersey, N. Y.; W. C. Pew, Sun Oil Co., Philadelphia, Pa.; E. E. Puryear, the Texas Co, New York, and S. W. Candee, Tide Water Associated Oil Co. of New York. Since development of plans for the petroleum industry's exhibit, other industries have taken steps along similar lines.

CHICAGO PRODUCE

| and

| Packing Sows —

Eggs—Market, unsettled; rece! ts, 10,41 cases; frashe graded firsts, C3 rsts, 20%c; current receipts, ties, 1634c; checks, 16!4c; storage- packed firsts, 20a2c: storage-packed extras, 21'ac. Bufter—Market, steady: receipts, tubs; extra firsts (90-9112 score), L | 303,c; firsts, 29@2934¢; seconds, i extras (92 score), 3lc; specials, 3115a 330: | standards, 30'zc; centralized (88 score). | & centralized (89 score). 291e. steady: receipts, 38 Sc: ducks, 14'2@16'z¢; | 2@22¢; Leghorn hens, 17¢; 108240; | chickens, 21@25'2c; broilers roosters. 14@15c: fryers, 20@25! or tur- | keys, 15@17c . : i | Cheece-_Twins 1Th@17'2¢; Daisies, | 3;@18c; Longhorns, 17%; @ 18c. Potatoes Supplies. moderate; demand, | fair; market, steady; California White Burbanks, $2.10; Idaho Bliss J TIYmphs. ¥; 5061.65; Idaho Russet Burbanks, kd 1.83; U. 8. No. 2 25; ot Bliss Triumphs. $1.55; Washington White Rose, $1.45: Washin ton Rucker Burbanks, $1.78 iss: u. 8. $1.25; New Jersey Cobblers, $1.30: Nebiaks ' Cobblesr, $1 15 | 20: Pennsylvania Cobblers, [email protected]. Arrivals, 72; on track, 185; Chipments. 240.

trucks; hens, 217

a $12 top. Hog receipts were estimated at 3000 head. Despite a scant supply of steers yearlings, demand was only of a half-hearted nature and prices were no better than steady. Some of the grassy and short-fed offerings tended toward the weak side. Steers

| scaling 1152 pounds topped at $16.40. | There were yearlings at $15 to $15.65

grading choice, while good grade yearlings turned at $13.75 to $13.85. Other classes were generally steady, except some weakness on common and medium grass cows.

(Reprinted From Late Times Yesterday)

e ®

1140-160) Good and Medium Lightweights— (160-180) Good and Medium .. sath (180-200) Good and choice. Aedium «........ Medium Weights— (200-220) Good and 1220-250) Good and Heavyweights— (250-290) Good 1390- 350) Good

nT ww

wo or DON e oO

rs CSPOT OC OC ULIOoYPT O

choice. .

GOOD -In3 LLLO won e539 2998

tt pt Bk

choice. . choice. .

choice . choice .

and ana

1275-350) Good (350-425) Good (425-450) Good (275-550) Good Slaughter Pigs— (100-140) i Medi

Or OOM HN Wi NWNW S993 33

Boe eral BIOS LOGY COCOCOWS

Dn ows on

tp fo pt ft fo ot ot ft ft DD

GO UNO OO Ou

GN PONY aw ON ad

Bt ft ht fk hd tt

Po 2000

(500-800) (900-1100)

C (1100-1300) C

0 25@16. 2 H0@16 Ril 0 0 5

M ) (1350-1500) 30 16. 2

(550-

750) G

C ‘hu Good and choice . Common, medium.

(750-900)

Low cutter oe Cutter rave. Bulls, good . Cutter, com

599999 DI BO®

Good (beef) ‘oe . Cutter, common and medium. . Vealers ~—Receipts, 900--

Good 3nd choice Mediu Cull and ‘common

. [email protected] 8.504 10.00 7.00@ 8.50

—Receipts, 500— (250-500) Good and choice .. 9.00911.00 Common, medium. 97.00@ 9.00

Feeder and Stocker Cattle Steers (500-800) oR and choice 8.00®10.00 6.50@ 8.00

on, medium (800-1050) Good and choice [email protected] C 6.50@ 8.00

ommon, medium 7.00@ 8.50 5.75@ 7.00

525@ 6.25 4.75@ 5.25

Heifers— Cood and choice ... Common and medium

Common and medium SHEEP AND LAMBS

—Receipts. 2000 Spting SA br=

Shorn Ewes— (90-175) Good and choice . Common, medium

[So at

You must pay for shelter . . . so why not buy a home on easy, rent-like payments?

“Of Course She'd Like a Home of Her Own!”

® “Fletcher Avenue” offers you VARIABLE INTEREST RATES. e LOWER Interest Rates are possible, depending upon type and locas

tion of security offered.

® Allows privilege of paying loan in full at any time without penalty,

with interest TO DATE ONLY.

#® Personal contact with LOAN HEADQUARTERS HERE AT HOMB

+ + « Courteous, PROMPT Service.

® No fees . . . No Commissions , . . No Service Charge.

$500,000 AVAILABLE FOR LOANS ON INDIANAPOLIS HOMES

FLETCHER AVENUE SAVING & LOAN ASSOCIATION

10 E. MARKET ST.

In the Heart

of the Business District

Fewer Failures

BUSINESS FAILURES (DUN & BRADSTREET)

FIRST SIX MONTHS EACH YEAR

1931 1932 1933 1934 1935 1936 1937

THE PARKER CORP, GENERAL DISTRIBUTORS INCORPORATED INVESTORS

BOSTON, Aug, 11.-For five consecutive years commercial failures have steadily decreased until the total number of failures in the first 6 months of this year was the lowest for any like peroid in eighteen years. Equally constructive is the even faster decrease in total liabilities, The average liability per failure in the first six months of this year was about $12,000 compared with $16,500 last year,

New York Bonds

By United Press BOND PRICE INDEXES 2 60 Util. Bonds

102.1 0 101.9 Y

THOUSAND FAILURES - >

20 Rails Yesterday ... 92. 91.3 Week ago 91.6 Month ago 93.% Year ago 96.0 0 YOAars ago . igh

iow a

oe S323

5 low iL0 9.3 rt Rah A 1037 nda Statistics &

U. 8. GOVERNMENT BONDS Treasury Bonds High 3338 1043-40 Ju +...» 3148 1045-43 ... 106.28 4s wi 44 112.15 34s senenness 108.2 105.20 117 117 101.19 101.20 99 an 100.18 100.16 101.12 101.12

Home Owners Loan Bonds

1044-42 ........100.28 100.28 35 1052-44 ..... 102.31 102.30 FOREIGN BONDS Brazil 6's 26-57 23 42% Canada 4s 60 ' a 1077 Canada 3'ss 61 100s German s 49 . 38 Italy 7s 51 Japan 628 54 Norway 4s 63 DOMESTIC

Low 105.27

Last 106.27 106.26 112.15 105.20

100.28 102.30

ATT deb 5'25 43 Arm Co Del 4s 85 At TSF 8 .

Can Pac oh’ “4s perp re 0! Cent Ill El 58 5 10 Gen Pac >, hy

M St 3 oh M St Chi RI a CCC St i Clev Un Ter 5s Clev U Ter 4'as h ‘es Cons Oil 3! Vane

P \ “ees Phil Rd Coal os 49 Port G E 4 60 Reading Ay A 97 Rep Stl C 4'zs8 50 “ Seah Air Lin 8s a ssvy 1 Third Av adj 5s ‘es Va Ry Co 3%s ne. West Union Hs 60 . Yng 8 & T 31,8 51

x 3 3 “wo DiI ab BN ISIS

WHEAT FUTURES DROP 2 GENTS; CORN FOLLOWS

Government Report Sends Leading Cereal Prices Down.

By United Press CHICAGO, Aug. 11.—The downturn in wheat on the Chicago Board of Trade today was checked tempor arily by resting orders to buy. At the end of the first hourlgvheat was 2s to. 2% cents lower, corn

was % to 7s cent lower, and oats were 4 to

3% cent lower, ' Released after the close of busie ness yesterday the Government wheat report placed Ardgyican wheat production for this year: at 890,419,000 bushels, more than: 270,~ 000,000 greater than the actupl 1938 yield. Mill buying in small volurne.also appeared on the downturn after wheat had dropped almost 3 cents at the opening. Some interests with export connections also ‘took advantage of the break to gcquire A | parcels. United Kingdom reports 3 | were that 3000 tons Danubian and | 2000 tons Russian wheat have been purchased overnight. Germany was reported buying corn and Italy was said to have made arrangements. to buy 60,000 tons of Hungarian wheat during the fall. Wheat receipts here were 130 cars. Following a small rally which carried corn prices above the pree vious close the market reflected wheat's weakness and broke again. | However, small portions of the early | losses were erased on the movement. Corn volume was light. Corn receipts were eight cars.

WAGON Wi WHEAT City rrain elevators are paving for No. 2 red, $1.03; other grades on their merits. Cash corn, new No. 2 vellow, $1.06. Qats, 26'2¢, Hay=-No. 1 timothy, §[email protected],

WINNIPEG WHEAT Change, w2%0 dd ~=1%

October ‘e December May ...

ARGENTINE GRAIN BUENOS AIRES, Aug. irregularly today $1.23, off lie; October, § -—September, 557sc, off * off ic. Oats-=Spot Flax--September, $1.36! tober, $1.36'3, unchanged.

LIVERPOOL WHEAT Low

ober, 38%. unchanged; Oc~

RADIO PR PRICES NorERSe

By United Press CHICAGO, Aug. 11.—The Zenith Radio Corp. today announced price increases ranging from $2.50 to $10 a set on models comprising. about 75 to 80 per cent of its total output. The action was taken to ‘offset advances in the cost of raw mamaterials since introduction ‘of the present line this spring, thé ore poration said, pointing out that no price increases were made at that time because future material requirements then were well pro=-

3 tected.

You can’t put a

BUSI

NESS

OM i piece of paper

Much as we value balance sheets and oper-

ating statements in the thorough analysis

of bank credit risks, we appreciate that

there are other important elements in a

going business which cannot be reduced to

a sheet of paper.

For this reason we feel that it is a spe-

cialized part of our

work as commercial

bankers to acquaint ourselves with the

problems and accomplishments of our bor-

rowing customers, in

addition to those fac-

tors revealed by their financial set-up and

earnings.

AMERICAN NATIONAL BANK

at Indianapolis

Branch at College Avenue and Forty-Second Street

Gh LW sc id