Indianapolis Times, Indianapolis, Marion County, 13 August 1937 — Page 17

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THE INDIANAPOLIS TIMES

+ The Times Financial and Market Page

LATEST NEW YORK STOCKS A RKER PRICES New York Bonds DOW TE es offen <8 AN 1 5 CENTS BOND PRICE INDEXES INLOGAL TRADE

187.62 he. outs om. . a 21.6 102.0 | Shipping Demand Boosts Hog Bids on Weights Above 160 Pounds.

PAGE 28 PAGE TY

i RIDAY g\ 3, 1087 FRIDAY, AVE. 1, 1937

COMPLETE LOCAL LIVESTOCK

WHEAT FUTURES IRREGULAR AS CORN FOLLOWS

COMPLETE N. Y. EXCHANGE STOCKS

STOCKS STRONGER ON DULL MARKET; U. 5. BONDS EASE

Curb Stocks

lay United Press

By United Press High Low 80 Bonds 95.2 5.2 os 07. 90.1 100.5

93.4 |

2 Canadian Carryover Report wo| TUPNS Prices Up From Early Lows.

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

20 RAILROADS

+0.90 fo 5 + —10.66 91 0.18 —1.89

Net, Last. Change. Air-Way El .... 2% z oY avn Alleg Suweel. .. 36 kA Allied Chem. 238 +1 Allied Stores. 20% .... Amal a A 5 159%

Yesterday | Week Ago .. Month Ago ... Year Ago . Two Years Ago. 193% 193%

. 920 91.% 102.1 LIN 93.8 101.0 . 0 06.0 105.7 89.0 $6.2 101.0 95.0 101.2 106.0 20.8 00.1 99.3 1936 High ,.... 94.8% 1004 106.2 1936 Low ...... 90.0 84.7 108.5 1935 High ..... 91.9 86.4 108.8 1935 Low 82.6 WR 80.4 (Copyright 1937 Standard Statistic:

Stl...

Republic Cop... .

Revere

St Jos Lead... Schenley Dist . 1 Schen ist pf. 93 | ine .... | Yesterday Week ago Month ago Year ago High 1937 64.46; low 50.17. High 1936 59.89; low 40.66,

20 UTILITIES

LER

Treasury Bonds

Curb Exchange Gains As Cotton Futures Jump.

Yesterday Week ago Month ago Year ago High 1937, High 1936.

Hog prices responded to an im- | | 31a: 1945-43 ; y 8.26 | By United Press proved outlet on shipping on ac- | 35° 194n-48 .. - 16. 15 | CHICAGO, Aug. 13 ~The Lake of count today and values on weights | 952-47 . 22 2| the Woods . above 160 pounds advanced 15 cents, | 5,2 aL ++ 08, 28. Lf : S report showing an exe according to the Bureau of Agricul- | 1959-56 . . [tremely small Canadian wheat [carryover of July 31, turned traders

| | 4 pe Home Owners Loan Sx 1049.30, . 100.31 9 i | 2%s 1049-3 bullish and wheat prices climbed from early lows on the Chicago

S Toll Mill. Smelt .... Stl Pdies. . Tob B .... 37.54; low, 25.45. St by. 2 x + 35 36.08; low, 28.63. § 3: ay 1 4 on 70 STOCKS Gold... 18 3 } “twp | tural Economics, U. S. Departmant . Yesterday + 0.38 | Sym-C “ : : : | of Agriculture, Light lights and : 1044 12 pie 100. iH Week ‘ago 27 —0.35 ine Min. 1° pigs were steady. The rise boosted © 1052 102.23 102 23 Month ‘aes... 001 , | top sales to $13.40, paid for choice | FEDPRAL LAND BANK BONDS IB Year ‘ago —0.%8 | Tex quit prod. Tv dv « — '» 200 to 210 pound weights. Eastern [4 yo... 1985.45 .... 101) 30 | Board of Trade. High 1937, Fimik-D - 138 26 8. 1 ''w | pork markets ranged all the way |3s Jan. 1056-46 .... : | At the end of the first hour wheat £ Hamers : (Pp [32 gan. 1030 ae Iwas ™ to 3 Hich 1936, Sn W Air | from steady to $2 lower. Sows sold | 35 Mag 195658 Ds s cent higher, corn was 20th Cen-Fox | generally steady, although the ex- [4s July 1046-44... Mpls higher to 1 cents lower, oe top of $12 showed a 25 cents | 45 Nov. 1980-30 I 101 ne oats were 's to '; cent higher, gain. Good sows bulked at $11 to | 4s May 1957-37 .. i uying was general in all months $11.75, with grassy kinds of medium 4%s Nov. Te SITe BND | On the strength of ghe Canadian re« |orade at $10 to $10.75. Hog receipts | DO | port. Today's carrvover repos, were about of recent Friday propor- [coupled with the report earlior vhis | tions, estimated at 3000 head. | week estimating the Dominion crop [Would be the smallest in 30 years,

{ i in There was nothing of feature i hing made traders confident that {he biggest share of European buying

today's cattle market. The run of | ' | 600 head consisted largely of buteh- » | er cattle, no full loads of steers he- | Gan Na Ry 4'4s 31 hood he on American holders of ing included, A fairly active trade |Can Fac deb 4s perp ours eal receipts were 243 | developed, even if it was a cleanup | ¢ : Ooi NE * | nature. Prices ruled fully steady . rosses ‘Wer Buyers supported the vealer trade , | tember, Commission [at fully steady levels, despite further [firmed the market losses in eastern dressed prices and | | were four cors. “| heavier receipts. Good to choice | offerings cleared from $11 to $11.50, | Cons Qi Wa 3 with other grades largely $10. 50 | Dayt, P & [ downward. Another healthy trade greeted . [lamb supplies. Quality and sorts | considered, most sales were strong, ; | with spots 25 cents higher. Merely | [ot H¥ BL 6s G4, Dpaned Jjiesuintly ower. Wheat good to choice ewes and wethers T& T cvidlos 30.0 93%; 92 [off Vie. Gorn Bentember oom . bulked at $10.75 to $11, with the | M0 KG T. dst 4s 00 .. chaned. October, $87 e. unchanged Oats [later price practical top. Outstand- | NY Cen 3%s 46 . ... unchanged: Octorer SE hae mber, ling in the crop was a part loan of | NY NH H cv fs 1’ . |85-pound Southdowns which |PaP &L | brought the premium price of $12, | herr pire:

| Am Maracaibo | Am Super

low, 57 low 51.20.

6. 6% 66.38;

| 4 Bald Loco

Net Low Last Cnante 42 42

Und Ell Fish. , Union Carb %s Un Qil Cal.. 1 | Un Pacific Ya | { Un Aircraft’ 14 | Un Carbon United Corp | Un El Coal | Un Eng & Fdy Tn Gas Imp

i Lehman ....... 2 — | Libby Mc&L ... 12% L-O-F Glass .. { 694 {| Lima Loco .... 67 , | Link Belt Loft, Inc Lone Star Cem

5 © 1D AD

Abitibi 5s 53 ‘M

bet

Bohn Al ‘Br Borden . Borg- -Warner Bdgept Brass. . Briges Mfg . Butte Cop ..

| Anaconda ‘c Sas 50 “ At TSF gen 4s 95

38 ra ¥ , oa

pp DT et DEI pt

Gypsum Leath A Lfath pr HES,

res

NN D OLR - w= P ax

strong partly

and early erased in Sephouse buying Corn receipty

uU | Un Stk Yd

tt pt PID DDO NaI Oe Dee OO Pr PADIS Te DED

C Col Ge 55 52 M ; WAGON grain elevator: £1.04 corn Hay

WHEAT are paving for Na. othe; Rrades tit new No Oats, No. 1 timothy $150 1s 50 ,

City red

187% 22% 237s 36

. 187% 22

| Woolworth

ARGENTINE GRAIN BUENOS ATRES, Aug. 13.-

Hud ‘Man Fei 57

| Yellow Tr Tl Cen 43%s 6

| Young Sheet Grain Putiren Sen$1.10%,, 553%, 1m-

wm Zenith Rad 38% Spot | $1.355%, hana

WINNIPEG WHEAT Open Change Deere & Co ...137% 137% $1 99 Le Deere pf vies 29% 25% Pel & Hud .... 38% 38% D Lac & W . 16 16

Dist Seat 233% 233% Doehler Cast 37% 371% In Ohio Oil Dome Mines co 42Y 42Y - > | Oliver Farm Eq Douglas Air . 58 58 | Otis Elev .. 43 Otis Steel

" le

' Reading 4'2s A 097 Ma : 1.89 [over the general run, Rep St] C 415s 50 .. ‘» 1.27

mon to medium grades ranged from | Seab Air Lin 62 45 .. LIVERPOOL, WHEAT [$9 to $10.50, some 5l-pound aver- | 3 High Low lages going to killers at $8.50. | 81.28% $1.36) | Slaughter eyes were steady, mostly 1.29 1.27% lat $4 down in the absence of choice ‘

| ian - handywetght offerings. TL “| FOOD PRICES

CHICAGO, Aug. 13 | Tennessee, bu. hampers, rots—TIlinols, bunches, 16 2¢ { Illinois, bu., 35@ 65¢ Tomatoe: | Michigan, 12-qt. baskets, 15% 40¢ Cauliflower——Colorade, crates, $1 6561.75 Peas Colorado, hampers, $1 4061.50. Celery. Michigan, flat crates, 257 50c Onions (less than carlots)— Wisconsin yellows, 80c¢ Rupser rales-<Tllinote-Tndiana, “vellows, 40 “1 85¢,

1 EY LOCAL PRODUCE (The prices quoted ate pad gathered in the country, fries in Indianapolis higher, Each ful] 55 pounds gros:

. ¥ ==N Registered, Though 5! | Heavy breed hens, 5 Ibs | Leghorn hens, 12c: heavy breed brojlers, 1937 stock, 2 1hs. and over, 19¢; Leghorn | broilers, 1937 stoek, 2 Ibs, and over, 17 | bareback broilers. 1937 stock 2 * | over 13e old roosters, fe feathered and fat, 5 Ih: | Sees e, full-feathered and fat N y < i oz as | By United Press bn Butler —Creamery No, 1, 35! : : ir 3 nt E CATTLE | NEW YORK, Aug. 13.--Weather [J 3a@33%c. Buiterfat—No. |

| ~-Receipts. '600— | handicaps restricted retail trade ——

Choice o...... $12.75a 1800 | SOMeWhat this week but there were | EXCHANGE LISTS co 1125a 14.50 | ragpects of excellent fall businass, UNION ELECTRIC

Choice Good 9.000 2 ling of $80,000,000 of Union Electrio 2 The report said that Co. of Missouri 3% per cent first 9 heat and intermittent showers

um Common Prime Choice Good ‘er Common ... oppressive | Pp in |mortgage and collateral trust bonds, 062, terfered with shopping plans in due in 1 2 | many districts and pps men lead- The bonds were sold on July 1, at ling cities failed to equal their to- [42 per cent of the principal amouis, 78 | tal of the preceding week. The na- to a group of underwriters headed tional average, however, was 1 10 [by Dillon, Read & Co, and were is33 per cent above the preceding week |sued to redeem $63.687,000 of general

Medium Prime | but the gain over a year ago was | Mortgage bonds which matured on

Lid Close close $1.28, 81.277 1.20% 1 9 1

1.27%

: “Milking” Charge of . & 0. | Railroad Is Unfair, He Says.

Oct Dec March . 5 Fast R Mill East Kodak Elec Auto-L ... Elec Boat ..... Elec Pwr & Lt El Paso Nat Gas Flintkote Co .. 31 Food Mach ...

hw) | Pac am Fish. Pac G El ER ve Paramt Pict . Para Pict 2 pf Pathe Film ' Pen & Ford Penney

loss $15,105 Bweet Potatoes $1.261.35., Cars Spinach Ilinois-

HOGS Bulk

40@13. €5 [email protected]

Ang.

Japan 615s Bes

Peru 6s 60 I

- RETAIL TRADE viii: GAINS IN WEEK

11.50@ 12.9

By United Press WASHINGTON, Aug. . |R. Young, owner of controlling interest in the 23,000-mile Van Swer- | ingen system, today charged that al- |

. Jegations that he intends to “milk” | the Chesapeake & Ohio Railroad | | were “most unfair.” w edium Ine) | “Headlines in the papers to the | Medium, Weights sss | effect that I intend milking the Good C. & O. are most unfair, and 1I| | think it unfair for this committee | |to make those allegations,” Mr. ‘| Young told the Senate rail inquiry. | “I certainly am not foolish enough | to want to kill the goose that laid | the golden egg,” he added. C, & O. is the most profitable road in the | vast Van Sweringen setup Mr. Young declared that “all the | , | nation’s railroads will go into bank- | ruptcy together” if freight rates on | { coal shipments are reduced. The | " | Interstate Commerce Commission | now is considering a revision of | | coal rate structures. »| Mr. Young said that | would “injure many thousands railroad security holders.” He told the committee he believed | (1350-1800) | a reorganization plan he is spon'soring under which Chesapeake (Corp. and Alleghany Corp—top | | holding companies in the intricate | Van Sweringen structure—would be | | merged, would make the system bet- | | ter able to withstand “shocks” such | l enotes as rate reductions. Good .... : Young denied assertions by com- Eo eon medium

PE Ae

No rs < EE LAIDNOVOWD ANGIE NEOS

13.—Robert |

Gen Flectric ... !

Foto sanws

BI >» Lt at

Light LA hts (140-1

DAS 0

Good and Medium

G Gillette's > Gimbel Bros ... Goebel Brew ... ! Goodrich Goodrich pf Goodyear : Gotham Hos Graham-Paige Granby Gt North pf . Gt Nor Ore .. Greyhound ‘ep .

choice Ser '

Pullman Pure Oil

" BANK STOCKS

Bankers Trust Central Hanover Chase National Chemical Bank & | Guaranty Trust { Irving Trust Manufacturers | National City | Continental Ill Natl Chicago i First National Bk Boston | National Shawmut Boston National City Cleveland

Fire Insurance

— no ry w

1 &] oO» a »

& G 611% 5 pf. .1023, 58 | Light weights — 0-180) Good Medium (180-200) Good and

20% choice. . for stock while for delivthe prices are 1 cent

case of eggs must weigh fresh.

choice

choice choice

and

and strietly

oss off, 179

Rises Weather Handicaps Hurt Business.

choice. . and over, 17}

choice

. 11.256@12 .. 11006211. . 10.756 11. 10.00611.2

and

2 | Packing Sows — | 1275-350) Good | 1350-425) Good | {425- 450) Good 275-550) Rood siaughter Pig (100-140) Eood and choice Medium

Trust

Naty AD we

RASS ne

Trust

9 to 14 Bs.

Non. No.

2 AR Se 30¢

{ Aetna Tire 501; 2 City of New POrk .... uve 2 27%, | | Federal . "a's By | Franklin { | Great American | Hanover ‘ Hartford Home National

(500-500)

(900-1100)

+ AL 500114. i | . [email protected] | (plain) . 7.00% 339 (1100-1300) os 3

reductions

Companies of

6 2.25 a @170n Gs... 6.25 : 5.00

Heifers (550-750) Choice . Sood Common Good and choice Common. medium

SND

(750-000)

3 Paw

A > Ark N Gas A Austin Silver jnaconds, Berkey Gay | > . . Asso Dry Gds.. J Tr 7 > Q (€C Marco g y ~ oe NEW YORK, Aug. 13. [San Marcon: : Atl, © Line, pt Stocks strengthened today | ites gery Atlas Corp . . t S but trading continued dull. |co0 & G Atlas Par Radio Corp. was the most ac- | ¢ tive issue, reaching a new | . i 5 | Creole Pet high at 117; on 14 advance. | Qusi Mexic Eagle Picher .. { Equity Cp .... sues were dull. fSok Rubher or Domestic corporation honds stead- | : Macy RH > . | McWms Dredge quiet dealings today. U. S. Gov- (Mesabi Iron cs Magma - umper i 3 arine bs ernment bonds were off 1-32 to 3-32 | Mol 4 Callahan, Zinc 4 4. + "Marshal Fid against scattered gains ranging to | | Rag Pour Caterpiilar T | May DS | Pan Arn Air peeves Ches Cor McCall Corp 5 Curb stocks advanced under lead | Bits Pi GI Shi Prev Miami Cop ... 201 20a a od of -industrial shares today. SU Regis P oe 8% | Sntyater © MOOS Tex «von ¥. ta | Walker (H) rte! Cotton futures gained more than Segal Lock Dy Mo Pacific Walworth 1 on v Stutz Motor "| Som ny Tr x | Motor Prod Wayne Pump the list was 11 to 12 points net| Sunray Oil > | Gom Svanits | Mullins Mfg B higher, | "ilo Roof. . t U. 8. Steel gained 4 to 1194 and | Tn Lt & Pur * | Cong-Naim_ Th igh = § $ at 993.. Chrysler eased 3: to 116%: $ Eons ro . but General Motors was 's higher { hicago S is | | Crane Co. . at 59. Some rubber shares were L Crown ‘Cork Bast Crown Zeller Eastman Kodak reached a hew Crucible St year’s high on a point gain to 188: Curtiss-Wr Colorado & Southern was active, Cutler-Ham Baldwin Locomotive also was strong. Crown Cork gained two points to 84 and Newport Industries ris, however dropped 114 to 89% while American Agricultural Chemistry lost more than a point. Stocks opened steady to firm in| ago. quiet dealings. Prices then held nar- Pittsburgh & Lake Erie R. R. Co., rowly around the initial levels in [SIX months ended June 30 net in$1,832,052 or $2.12 year ago; June strengthened. Deere & Co. rose 12 | ot ina : Wk Teer to 137%, up 1%: and Eastman | ome $468,599 vs. $423,054 year Kodak 1 point to 18812, a new Sy | y ; - | Sidiaries, fiscal year ended June 30, and other steels were steady. Gen si e eral Motors showed no change at | net profit $634,643 vs. $738,319 year 587. and Chrysler was Off 3 at|ago. 1115, up %. Standard Oil of New |six months ended May 31, net loss Jersey had 14 loss to 683% and So- $143,156; six months ended June 30, cony-Vacuum was active at 22%, net | Inet loss $174,270. No comparisons Hayes Body .. Herc M down 3s and Anaconda up 4. At- | John R. Thompson Co. first six ou o chison, Topeka & Santa re] | months net loss $52060 vs. profit | Hudson Motor gain at 815:. while New or $50, 346, or 17 cents a shate year | Hupp Motor 1% ain at 41% a your ago. | nt Hea Fi no. 13% 13 and auto equipments were fi | Rutland R. R. Co., June net loss | Int P&P C .. . Tra Sales approximated 210, 000 shares | ¢35393 vs, $3.201 year ago: Six TAI i083 106, ey ron) a - | year ago. NE nn dustria 7.75, up 0.13; -0b, : v XK it 63% 0.09: utility 29.06, up 0.03. South Penn Oil Co., six months | Kroger G&B 21% UJ, . ended June 30 net income $3,278,744 | ... 95% 25% 57% 1 5% | North R d d fractions to more | ag0 | Een Ral RE 1450 10 : | Phorny ver Stocks advance ractions ' { £ ire than a point, but trading failed to Casualty expand materially. Socony-Vacuum | acme Steel Co. regular quarterly By W. L. Lyons & ‘Company) | Continental Casualty ls also were active and | $1 payable Sept. 11, record Aug. 27. Mass. Bonding & Insurance antl othe Stee. reached 120, up 7, Bucyrus-Monighan Corp., regular | Ba oui MONT EY MARKET Choice 5 1's and Avery Sons bs '47 NEW YORK, Aug. 13.—Money rates reBethlehem 100%, ub gy 1 record Sept. 20. | Rolores ils 68 mained unchange ioday igh ove uro-Test Corp. interim 1715 | Gent Maine Pwr ds 60 $0 days taf eral Motors was up !z to 593 and ; Vos ¥ 7- -16% . 60 and days. 1 Chrysler 1% to 117%. Metals were cents on common payable Sept. 25 Ean Ges ge Sa days, 9-16@%a% N50 ana 180 dave “eer 9 nS.) “en Bre Paramount reacheq 33%, up June 15, fa Power = +30 3 Time Money—60 and 90 davs, 174%: 120 Globe-Wernick a ower ; 150 and 160 days 1%%. Rediscont vate Kodak hit 190. U. S. Rubber had 1% e-Wernicke Co. 30 cents on {Houston Li & FEOWEr Sas point gain at 63':. Electric Power & SO be. I5 Yeourw NTE |Aug. 2, and to acquire all the out= Light was up 3% to 23%. Crown Cork |

Good | shortened 6 to 18 per cent. { | Sales in the New England States | standing first mortgage 3% per cent | bonds, due in 1962, of its subsidiary,

cutter and cutter

aatsrataibe Grr

Los Angeles Rev

Bulls

By United Pros Bellanca _Air Armstrong Ck. . | Centrif Pipe At] Refining. . i Con Cop Mns Cusi Mexic . But other communications is- | ied on mixed gains and losses in | Humble Oil Macy RH | rh . Molybdenum Calumet & [Marsha | De i “. 2-3 point. Pantepec Ches_& Ohio .. i | Miami Cop Va-Care Ch Coca-Cola p Ne . 50 cents a bale today. Around noon | Mont Ward .. | Waukesha Mot | Technicolor Commonw & 8 Bethlehem had a similar advance | Sous Oil | Crosley Rad .. higher. Curtis Pub the preferred gaining 3% to 227. gained a point to 34. Philips MorFIRST HOUR profit $190,329 vs. most Sections, although a few issues | Come $2.200.948 or $2.55 a share vs. U. S. Steel held around 1193, up ? Standard Products Co. and sub11612. Radio was active arou ana | Aviation Corp and subsidiaries, unchanged. American Smelting was | are available. Houd-Her B .. tral, which opened 1000 at 41, had | ago: sales $6,064,948 vs. $53813821 | Int P&P A : 101; 1914 against 200,000 in the first hour yes- | yong net loss $154,710 vs. $197,945 | L381, 28% ee Fire SECOND HOUR or $3.28 a share vs. $1489555 vear | Lee DIVIDENDS v | Westchester NEW BOND ISSU ES reached a new high at 227%, up ! | quarterly 45 cents on Class “A” |B Sant Oro w 4s : Youngstown Sheet 93%, up 1. Gen- anker’s Acceptances - va @1-16%: 129 Cinti G & E 3'2s | record Sept. 15 vs. 10 cents on Commercial Paper—Prime names, 1% 135. Eastman 951; ;. Atchison held at 81%. Houston Lt & Pwower 34s 66 1028 a0 ne Safin Aug. 31 vs. last previous payment was up 2 to 84.

Sales approximated 200,000 shares, | against 120,000 in the second hour |

Dow-Jones averages—In- |

yesterday. 53.70.

dustrail, 188,51, up 0.89; rail, up 0.13; Way, = 23, or 0.20.

Today's Business At a Glance

GENERAL BUSINESS

| of $1 in December, 1936. Ludlow Manufacturing Associates, $2 payable Sept. 1 record Aug. 14 vs. like amount 3 months ago. Ritter Dental Manufacturing Co., regular quarterly 25 cents on common payable Oct. 1 record Sept. 15. B. F. Avery & Sons Co., interim 60 cents on common payable Sept. 1 record Aug. 25. Canadian Industries Ltd. $1.75 on Class “A” and “B” common payable Oct. 30 record Sept. 30 vs. $1.50 on July 31 and April 30; regular quarterly $1.75 on preferred pay-

Northern state b 315s "67 .... Okla G & E 6 «1 Oklahoma Ed “x E, Sus 66. “ Pac Lighting 4'cs ‘45 1 Scott Paper oo. 3lis 8, . Sou K 414s '56 . Union Elec 33a '62 Union Elec 3s '42 West Chester 3 28 "67 isc G & E 3'2s "66 Wise Pub Serv ts 81

LOCAL ISSUES

The Iollowins quotations do not sent actual bids or offerings, but AH indicate the approximate market level as furnished by the brokers name (By Indianapolis Bond & Share Corp.)

| point in favor

Be: 29 vay 3 g | . a t ti; / oon | BROKERS OPINIONS |e ee oe Rrould | Cotte: oom

NEW. YORK, Aug. 13.—Brokerage opinion today— E. A. PIERCE & CO.—Recently |

the unfavorable side of the rail sit- | uation has been given the greater | Harry F. Truman (D. Mo.) in ap- | Good and choice

emphasis and we would expect the rail group to turn in a better market performance after the wage situa- | tion has been settled.

REDMOND & CO.—The tendency |

of the rails to recover along with selected industrials is an added |

side of the market at this time. HORNBLOWER & WEEKS — It

of the constructive |, .. .. prose

make possible “milking” of C. & O. | soon pests | He said the old structure was “even | Guster. common and medi. more” susceptible to milking. | Vealers Mr. Young agreed with Senator | — Receipts, 800— proving steps to prevent future | Meo formation of attenuated holding ke ane So". companies in the railroad field, but, | reiterated earlier pleas that exist-| ting structures be left undisturbed.

- DECLARES DIVIDEND

7.000 Calves (250-500) Good and choice . Common, medium Feeder and Stocker Steers (500-800) Soon and choice mon, medium (800-1050) Good and choice Common, medium

Cattle

6.50@ | Heifers— NEW YORK, Aug. 13.—The Brown | Sood and choice

ommon and medium

| were 6 to 12 per cent ahead of 1936, 7.007 8.25 5.00G@ 17.00

..$10.507 11.50 . 9.00% 3, 50 9.00

9.00 11.00 | 7.006 9.00

[email protected] ' a recession in orders in many whole- |

S30 8. 0 sale centers, the report said. Most 8.00 | Of

3.00

in the Bast 7 to 16 per cent, in the | Middle West 10 to 18 per cent, in | the Northwest 12 to 20 per cent, in | [the South 12 to 22 per cent, in th e | | Southwest 15 to 30 per cent and on [the Pacific Coast 8 to 15 per cent. Aftermalh of the buying surge during the market week events of | the fortnight preceding resulted in |

the principal centers, however, | | were well occupied with replace { ment requests for current promo-

| |

{the Union Electric Co. (The latter [cutstanding common stock of

of Illinois, together with all tha subsidiary, has heen pledged as sew curity on the new bonds. psn lp i—

U. S. STEEL CORP. OFFICIAL TO RESIGN

fssue,

By United Press

NEW YORK, Aug, 13 Irvin, United States Steel Corp.

William A,

| Rubber Co. of Lafayette, Ind. today | cows—

declared an extra dividend of 10| Good .. : ment is about to be resumed oh A |. cn share and the regular quar. | common and medium

broad and active scale SHEEP AND LAMBS |ing. The estimated wholesale volp . terly dividend of 15 cents a share LAMBORN, HUTCHINGS & CO. |, vaple Sept. 15 to ae of | Sptine ambi 1500" [ume kept 10 to 20 per cent above —Lack of pressure to sell on Price |yecord Sept. 1. President Randolph | Soor® beeen s11.00a 11.25 | the 1936 rate. " Conoessi b _ | ree pt. 1. esident Randolph | Good wi . 10. 30 11.00 | “General consensus of buyers, cessions can be the only expla- | writonell said earnings in the first | Medium 9.006710 w nation for the that h 5 the firs Come 8.00% 7.60] [the report said, “was that the tlatn for the fact that stocks have hair were equivalent to about 50 | Shorn Ewes-- ut of current retail gains | held all this time without a Drice | sents a share (00-175) "Good ‘and chotce 4.0m 4.30 | LeNINE OU as end correction. J Ms Common. medium. 2.30@ 00 Over a year i whieh Hie ev | J. 8. BACHE & C0.—So0 long as | . ing 0 e soldiers’ bonus money | ; VIE 00S ) : sustained earning power remains a INVESTING CO.’S ag yous, oA pn] Rn reasonable prospect, the market is (Quotations furnished by New York ie: before the end of Aug likely to maintain an upward i ne te off: tendency, subject to only technical | aam wa 19.30 20.53 KeyCP-8-2 26.68 interruptions. | AML Fd 1045 1182 InsGrpshrs 1.37 ' AN: HAMILL & GATES — | Al Ble 0.194 137 ReyOF-K.1.24.15 28 nterest in securities, considering all | Am Gen . 1.08 1.20 KeyCF-K-2. s 17.62 8.50 KeyCF-B-: circumstances, is holding up well | Bi sic oi 188 NTR with much money held for invest- | Bas 4

| president, announced the retirement, | effective Oct, 1, of Arthur H. Young, vice president ih charge of industrial relations Mr. Young has been active ih tha field of industrial relations for the | past 30 vears and his retirement from active business was induced by impaired health, Mr. Trvin said, William Beve, Chicago, a member [of the United States Steel's legal staff for 35 vears, Will succeed Mr, Young.

| tions and belated orders for mer-

BONDS | chandise for early September sell-

Citz Ind Tel (TH) Tel Ft W

able Oct. 15 record Sept. 30. Dominion Bank of Canada, regular quarterly $2.50 payable Oct. 1 record Sept. 20. Frank G. Shattuck Co. regular | quarterly 15 cents on Somion payable Sept. 24 record Sept. | Kingston Products ei quarerly 10 cents on common payable ...108 ept. 15 record Sept. 1 vs. like | Muncie Water Works 5s 65 amount on June 15, Sho el sory. 8s a % May Hosiery Mills extra 50 cents | Richmond W

57 > Seymour Water Co 5s 49 and regular quarterly 50 cents on |T H Trac 5s 44 | Class

week ended Aug. 11 business barom- “A” ‘both ny T H Water Works 5s 56 ... eter at 99.3 per cent of estimated |... q Aug. 20. Pugs We Tree Term Co 5s Lk » normal 7 hp Die roa ee | Pfeiffer Brewing Co.. 30 cents STOCKS week and 91.2 per cent ) "| payable Sept. 15 record Aug. 31 vs. | Belt Railroad St Yds cum ... window Glass Manufacturers = like amount on May 25. RGent Tha Power BE Ts oo. sociation reports July production al| gity Jee & Fuel Co. regular HO pvr Bf Ms Lone 1.320,406 boxes, Tepreventng es quarterly 50 cents on common pay- tad Gas Co cum ® tions at 81.3 per cent o Nyy Vs lable Sept. 30 record Sept. 15. for first seven BR 50 Duquesne Light Co. regular 0s: i or p quarterly $1.25 on 5 per cent pre- Indpis Water Co Bra 5% oom 103 2 . ’ ncoln Na © ne 0 x p Federal Reserve Bank, reports ore payable Oct. 15 record Sept. Serv Co of Ind 7s . Hs 5 Ror Final Stoel week ended Aug. Nh. i UP | ‘Finance Co. of America, regular 5 es 1. 1h | ii ir$35,000,000 to $124 C quarterly 15 cents on class “A” and

lation up $14,000000 to $6482- | J 000.000; execess reserves up $40,- | = payable Sept. 30 record Sept.

000.000 to $740,006,000; ratio 796 | per cent vs. 79.7 per cent previous week and 79.2 per cent year ago, Joans to brokers and dealers off $32,000,000 to $1,143, 000,000.

CORPORATION REPORTS

Atlantic Coat Lines R. R. Co, June net loss $526,535 vs. $527,630 year 2go; ix months net income $3.123658 or $2.57 Vs. $300,678 year ago, or 36 cents. Delaware, Lackawanna & Western R. R. Co, June net income $8674 vs. loss $93,256 year ago; six months net income $587,145 or 35 | cents vs. loss $503.863 year ago. New York i R. 0% six | hs ended June net income e485, 124 or $1.01 a share vs. $360 - po Shinjadity ics 864 or 7 cents a share year ago; Corn, No. ? Yellow pera June net loss $1,174307 vs. net profit 'Rve, No. 2 bu.) .... 126 year ago. North American Light & Power | Flour, Spe. Pat. (196-ib. sk.) ... Co., net income 12 months ended | te Stein Td > . 0 Ys “ieee Bure 90, at YS SUE Tie. Sugar, Raw 96 Test (Ib.) ceding 12 months. Butter, 92 Score (Ih) .........e Park Utah Consolidated Mines

Most Sales (bh)... Co., tix months ended June 30 Steers, A=, Most Sales (Ib) ... : re

Bureau of Mines reports all oil MOORS 0 Ie over | stocks increased 1990,000 bbls. in June ‘while gasoline stocks decreased 4.537.000 bbls.; domestic fuel increased 9 per cent over year ago to 48.580.000 bbls. vs. 2,291,000 year ago. | Dun & Bradstreet, Inc. reports | week ended Aug. 11 bank clearings | in 22 leading cities $5,067,245.000 vs. | '$5.838.715,000 previous week and $4.785,771,000 year ago.

Dun & Bradstreet, Inc. reports

6.25 ) 5.25

Indpls Railway Ins ndpls Water Co 3'% nterstate Tel & Tel 5s

Morris § & 10

Hogs Receipts, Best

higher.

AGO. Aug. 13 including 3000 directs 10 cents

10 ® 13 cents lower: spots, 25 jor site win gon ae" epics Ho; ENGINEERING BIDS

CHIC 5000, hogs.

strong to

for weights from limited; most good upward to $11.90 lightweights on

Striet-

demand , . Very packing sows, f11@11.%5;

best butcher order Cattle--Receipis, 2000; calves, 500 lv good. choice and nrime beef steers and | vearlings absent. steady: little selling | above $10 but grass fat cows very dull selling [email protected]; low cutters, cutters steady, $4@ 5.75, steers and heifers, [email protected] for Souttiwestern plain kinds: bulls weak. $6.50 @" a IR 7.25; vealers, steady, goad and choice ight and handyweight, 8116012, Sheep— Receipts, 10.000, ineluding 4300 directs. Slow, native springers stend $11 @11.25; some lower: sheep unchanged: ewes. $475.25. some above $5.50 PT. WAYNE, Aug. vr Ma 15¢ higher; 180-200 5; 160-180 Ibs, ih 0.

| { | | | By United Press | | |

REASE IN WEEK Olt PRODUCTION INCRE GAINS IN AUGUST

~Engineer- | By 'nited Press ing construction awards this week | TULSA, Aug. 13.-=Crude oil pro=

" duction, under new increased AuJ $45,348,000, nerease of 3 | Sopa 45,3 (6,000, wh | | gust allowables, shot upward 70936 [per cent over last week's figure of

| barrels, the Oil & Gas Journal 844, 041,000 and 10 per cent over te freported today. | 841, 282.000 volume in the 1936 week, | Daily average domestic eruds

| Engineering News-Record reported. | production was 3668.60, as co $13.05: 200-225 295.250 | Ibs. $12.75;

Quotations pared with 3.462000 barrels recom5 Private awards aggregating $14.- : 12.90; 250-275 275-300 | mended by the U, 8. Bureau o Ibs, $12.50: 300-350 £12.10; 150-160 | 172,000 were down 9 per cent from : u ot 1bs., :

See Later Editions of fos. 140-150 130-140 | yace week's $15,500,000, but repre- | Mines. : stags,

2.081 ~ 1956 -... 353 .... 65; 120-130 100-120 | The Indi is Time © inv 549 587. 1958 '.. 3.33 $11.15. Roughs, : $0.25 [sented an increase of 51 per cent 8 ianapolis Times 2 2. on 18D 3 iat calves, $1180. : v 41080 em Mae. over the $9,377,000 recorded in the | i 4 382 "483 | 10°15 higher: bulk. 300-325 hs. $15 10

25-250 1bs., $12.85@13; 250-285 Ih: 1936 Week. ts total 831.176. 13.25 A020, IDS, @} S$. | Public contracts totaled -| 300 Ibe, $130 lin a a ler: 1000, up 9 per cent over last week's ing of 130-150 lbs. $1150611.75: 100-130 Ibs | voltime of $28,532,000, but 2 per cent | crop continued throughout the Si0a10.50. Lamb eae bi 080. Calves | pelow the $31,905,000 booked in the | week with yields varying from au 1936 period. | three to 30 bushels per acre, tha RUBBER FILLER FOR ROADS Federal awards at $7,288,000 com- | Canadian Pacific Railway reported Times Special | pared with $6,749,000 a week earifer | today. NEW YORK, Aug. 13. —Substan- [and $12.410000 in the 1936 week, | - tial reduction in highway repair bills | while state and municipal contracts fs predicted for state and local gov- let aggregated $23888,000, against ernments by officials of the B., I. |$21783000 and $19,495000, respec- | iii | Goodrich Co. as wider use is made tively. lof rubber to fll pavement joints. FOREIGN EXCHANGE |The rubber filler affords protection NEW YORK, Aug. 13.—Opening foreign | against moisture and temperature | exchange steady Cables Rates. raat changes, which annually damage | England (pound) . 4.98 9-16 ...60 3-18 thousands of miles of highways. Eng (60- a ill rate) 4.97 13-18 00 3-18 Es Canada (dollar).. .99 63-64 > a

0378 3 00005 SULPHURIC ACID 1684 NBL FREEPORT, Tex., Aug. 13 --Sev3033 "om enty pounds of sulphuric acid are 5515 ov used yearly by each person in the Unguoted [rite States, directly or indirectly,

or better patd for

{Buy United Press

Ind 5,22 NEW YORK, Aug. 13.

Br ig St. 36.54 mene and, speculation should ad- Bw Mra 2. 30 2 vantageous opportunities present | 895 LU, 48:56 themselves, | Qen. N A 10.]

9 o ZZ za

Cent, Trst 25.77

PADDR I=r=~ AOD P nd 2

£01 Uf yn Is 2D DLT * TADW-ITE-T Nn

> . RIA RIN I BaNIsD » on = yt oS = a, » a DNAINNRDODOOD

ZB RD rac 0%

J. I. Case Co., regular quarterly $1.75 on preferred payable Oct. 1 record Sept. 12. (Conyright, 1937, by United Press)

WHEAT YIEL nD REPORT Buy United Press WINNIPEG, Aug. 13. —- Harvests Western Canada’s wheat

Camp Milk Co pid Van Oat} Ra Co co oa erist. & Co. ) Market st. .

PRICE INDEX AND COMMODITY QUOTATIONS

DAILY PRICE INDEX Year

NEW YORK, Aug. 13.—Dun & Brandstreet’s daily Ago 2.09 weighted price index of 30 basic commodities compiled ' a for United Press (1930-1932 average equals 100): ge

35% / RH Yesterday 140.80 | Year ago ... A241 Week ago 142.90 | 1937 high (April 5).

L183 «1.38 1.83 147 Month ago 147.02 | 1937 Tow (July 29). . 16% | Steel ..... 2:21

09% Inc “tvs 287 ki 0460 490 43 A148 14.75 18.93 3.65 2.55 50.00 38.00 my 1.18

; nv fe TE " up “B

a AA;

WARD IIB WS DLS = Some —- we

A Bam od =

Fou 4.95 rd re Ine 24.58 Pd Tr 6.40

«3-3

B Gen Ca 44. 01 Gen In on 7.18 Group Securities 16 *... 2.00

Commodities—

Eambs Avg. Most Sales (Ih) .. % Hides, Native Hvy. Steers (1b.).. 18 JAR Wool, Fine Unw. Comb. (Ih.) .. Al Al Cotton. Mid-Upland db.) ..... 1048 A178 Silk, 13-15 Deniers Jap Ih)... : 90 Rubber. Spt. Smk. Rib (Ib) ... 1869 Copper Electrolytic Ib.) RL Lead, Spot (Ih) 085214 Zine. Spot (Ih) 0887s Tin, Straits Spot (1h.) 60% Silver, comml. Bars (oz) 44 Steel, Serap Chi. (ton) 19.75 Pig Iron, Iron Age Comp. 93.9% Coke. Connellsville (ton) 4.35 Cement, Dom. Portland (bbl). . 2.95 Yellow Pine, 6-in. hase (M ft.). 60.00 Douglas Fir. Rough (M ft.) 52.50 Gasoline. Tank Wagon (gal)... 095 Crude Oil. 40 gravity (bbl) .... 1.2% 1.2% Stitt oy Wom ieuto: Grains, livestock, lard, steel scrap an es, oston: Wool. Fast St. Louis: Zine. Con- ke nelsville: Coke. Tulsa: Crude oil. New York: All others. Se rone) 32% A phur Co,

3 ’ . 0

Today J085 0S 10%

1D "ate Super AA. BB

|Superved " Trt

Commercial Banking Savings + Trusts

American National Bank AT INDIANAPOLIS

. 158.26 . 140.60

TED et hk kk BP BD

Peer

Following are Ye commodity prices ; daily “price index 8. STATEMENT " WASHINGTON, Aug, 13 -— Government | expenses and receipts for the current fis- | vear through Aug, 11, compared with | yéar ago: |

used in compiling the Week Ago $118 1.15 R814 S11 0 1180 0914 0350 BU 1320 0650

Year Ago Rf LIS% 1.14% 9014 AN 7.57 J225 098g 03% 3% A130 06%

Today $ LIT % 1.061% Create. 851% Oats, No. 2 White bu.) 31 %.40 1130 09% 0360 S1% 1205 0660

rs rt —————————_

TYPEWRITTEN LTE AUTOMATICALLY TYPED SODRESRING & MAILING MULTE RAPHING srENans eu WIMEO ENA PM. RULED Fowwe UP TH a xan

(ton).

Expenses . Receipts

050 a Oath “Bal ‘ 80. . Hy 5 Work Bal 1,105 0 1,655.4 i i; Pub Debt I Dn 93.308 856.338 98 | en

Gold 12.490.318. Rind 23 10/680 014.708 50 | 8 315 Merchants Bank Bldg.

Customs tal Ob 008

y k 25051 — 0000" Free u ‘rod ee Norway tktone) . A [It Is ‘estimated by port Sul Inactive, Gola Sh pied