Indianapolis Times, Indianapolis, Marion County, 24 August 1937 — Page 16

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PAGE 16

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COMPLETE N. Y. EXCHANGE STOCKS

The T

THE INDIANAPOLIS TIMES

imes Financial and Market Page - -

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TUESDAY, AUG. 24, 1937

COMPLETE LOCAL LIVESTOCK

~ STOCKS RECOVER IN , IRREGULAR TREND

AS BONDS FOLLOW

Japanese Issues Drop Fractions Under Pressure.

By United Press NEW YORK, Aug. 24.—| The stock market made an | irregular recovery during the morning dealings today under leadership of steel shares. Japanese dollar bonds reacted | from early steadiness today and de- | clined fractions to 3!% points under | active pressure. Steels rallied stronglv from early losses to feature irregular domestic

bond dealings. i Stocks turned irregular in dull curb dealings today after early easiness. Oil and mining shares im- |

CoS.

proved.

Bethlehem Steel, the feature. rose | A

from an early low of 95!: to 975, the latter up 1% net. U. S. Steel touched 1124 and then rose to 113'2, up 4 point. North American with a gain of | nearly a point to 25, led the utilities in a fractional recovery. Coppers were steady to firm. Mercantile stocks registered small gains. Oils and rails were mixed. Around noon Westinghouse Electric was at 152, up 1! points; Zenith Radio 421%, up 24 and a new high; Chrysler 11214, up 7%; General Electric 557%, up 7; International Harvester 113%, up 13%; Atchison 76, up 1%; Atlantic Coast Line 49, off 1; Standard Oil of New

Jersey 663, off 14, and Loew's 82%, off 11s. FIRST HOUR The market opened irregularly | lower and quiet. Later prices improved but trading showed no pickup. Bethlehem rose to 9715 for 13; gain and other steel shares came up from their lows. Westinghouse was fairly active to show 11% advance at 152. Chrysler at 112% was 7% higher. General Motors had 1% gain at 563%.

MARKETS AT A GLANCE

Stocks irregularly higher and quiet. Bonds irregular; U. S. Government issues irregular. Curb stocks irregular. Chicago stocks irregularly higher. Call money 1 per cent. Foreign exchange steady. Cotton futures rally after opening at new lows since 1933. Grains higher in Chicago; wheat up 1'¢ to 13 cents a bushel. Rubber futures firm. Silver unchanged in New York at 443%; cents a fine ounce.

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Ark Gas A. Can Marconi .. Centrif Pipe .. Cites Serv .. Cities Serv nf. Col O &.G.... Con Cop Mne.. Cooper Bes .... Cord Corp Creole ePt si Mexic .... Eagle Pitcher L Fisk Rubber Gen T&R... Grd Nav Films Gull Oil. .... Can .... Iron Bumper Molybdenum .. Mont Ward A 14 Nat Rub M .. 3 Nat Sug Ref.. Niag H Pwr.... Pan-Am Air.... Pantepec . St Regis ‘hale Std Oil Ky.... 2 Sunray Oil Technicolor

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Rails improved under lead of Atchi- |G

son which gained 1: to 76. Consoli- | dated Edison gained fractionally. Radio Corp. was fairly active to gain 3: to 113. Velume approximated 150,000 | shares compared with 130,000 in the | first hour yesterday. Dow-Joues| averages—Industrial, 181,92, up 0.05; | rail, 51.71, off 0.06; utility, 27.75, off | 0.02. | | SECOND HOUR . | The market continued to improve. U. S. Steel reached 1141: for 11 | gain while Bethlehem was 15 | higher at 977. Republic and Crucible gained fractionally. International Harvester reached 114 for 24 gain and Case was fractionally higher. Chrysler was 13% higher at 113%. Electrical Equipment issues were in demand. Socony Vacuum led oils with 3{ gain at 21%. Zenith Radio again turned active gaining 21s points to a new 1937 high at 422. Rails were firm and utilities mixed. Volume approximated 120.000 shares compared with 80.000 in the second hour yesterday. Dow-Jones Averages—Industrial 182.28, up 0.41; rail 51.73, off 0.04; utility 27.80, up 0.03.

Today's Business At a Glance

GENERAL BUSINESS

Advertising Age reports week ended Aug. 14 retail advertising in major cities 17,289,948 lines vs. 17,051,280 year ago; year to date 637.618,380 lines vs. 605,493,264 yeur ago. National Lumber Manufacturers’ Association reports week ended Aug. 14 output by 539 mills 278,191,000 feet vs. 281,202,000 in the preceding week; shipments 241,891,000 feet vs. 234,359,000 previous week; booked orders 221.807,000 vs. 228,865,000. R. L. Polk Co. estimates July sales 365,000 units vs. 360,236 in June and 357,490 year ago. Oil & Gas Journal estimates daily crude oil production in U. S. last week 3,726,262 bbls.. a new high rec- | ord, vs, 3,710,491 preceding week.

| CORPORATION REPORTS

Chicago, Milwaukee, St. Paul & Pacific R. R. Co. week ended Aug. 21 own lines loadings 21.868 vs. 21,720 previous week and 22,578 year ago. Chicago. Rock Island & Pacific Railway Co. week ended Aug. 21 own lines loadings 26,282 vs. 26,541 previous week and 24,966 year ago. Derby Oil & Refining Co. seven months ended July 31 net profit $385,379 or $1.30 a common share vs. $173,783 or 49 cents year ago: July net profit $41,171 vs. $42,538 year ago. : Kansas City Power & Light Co. June net income $322,845 vs. $341.858 year ago; 12 months’ net income $4,648,035 or $8.40 a common share vs $4,182,423 or $7.51 year ago. Loblaw Groceterias Co., Ltd., four

{

weeks ended July 24 net profit $49.503 vs. $43,638 year ago; eight weeks’

Heilman Brew .. Katz Drug La Salle Exten Marshall Field Midland United Process Corp Stan Dredging Stan Dred pf . Utah Radio Prod Wisc Bk Sars . Zenith Radio ..

profit $107,315 vs. $96.967 year ago. Baltimore & Ohio R. R. Co. week ended Aug. 21 own lines loadings 33,857 vs. 33,259 previous week and 33.505 year ago. Illinois Central R. R. Co. July gross $9,109,296 vs. $9,407,560 year ago; seven months’ gross $65,528 vs. $63,075,204 year ago. Loblaw Groceterias Co. four weeks ended July 24 sales $1,490,799 vs. $1.276,588 year ago, up 16.8 per cent; eight weeks ended July 24 sales $2.997,779 vs. $2,548,732 year ago, up 17.6 per cent. National Dairy Products Corp. 12 months ended June 30 net profit $12,433,473 or $1.87 a common share vs. $15,526,670 or $2.37 year ago. Pacific Coast Co. June quarter net loss $94,572 vs. net profit $34,203 preceding quarter and net loss $244,577 year ago; first six months’ net loss $60,369 vs. $255,196 year ago. Pet Milk Co. first six months’ net

| profit $219.006 or 49 cents a common | share vs. $485,740 or $1.07 year ago.

Crown Zellerbach Corp, July quarter consolidated net profit $2.507,711 or 81 cents a common share vs. $1,290,304 or 27 cents year ago. Foster Wheeler Corp., including English and French subsidiaries, six months ended June 30 net profit $71,842 or 3 cents a common share vs. net loss $24,695 year ago, unfilied orders June 30 were $10,456,900 vs. $6,165,360 year ago. Hearn Department Stores, Inc., gross sales six months ended July 31 $8,855,400 vs. $7,689,300 year ago, up 15.2 per cent. Sperry Corp. first six months net income $1,370,467 or 68 cents a share vs. $1,657,365 or 85 cents year ago. Union Tank Car Co. first six months net income $975,206 or §2 cents a share vs. $821,706 or 70 cents year ago.

DIVIDENDS

Cuban American Sugar $8 on preferred for accumulations payable Sapt. 15, record Sept. 2, vs. $2.50 on Aug. 16, July 15, June 15 and May 15. Pure Oil Co. regular quarterly $1.25 on 5% per cent preferred, $1.50 on 6 per cent preferred and $2 on 8 per cent preferred, payable Oct. 1, record Sept. 10. United Corp. regular quarterly 75 cents on $3 cumulative preferred, payable Oct. 1, record Sept. 7. Bloomingdale Bros. Inc. 37% cents on common payable Sept. 5 record Sept. 15 vs. like amount on June 25 and March 25. Detroit Paper Products Corp.. 6! cents on common payable Sept. 10 record Sept. 3 vs. like amount on June 10. Union Premier Food Stores, Inc. quarterly 20 cents payable Oct. 1 record Sept. 15 vs. like amount on

‘July 1.

(Copyright. 1937, by United Press)

LATEST NEW YORK STOCKS

[ DOW-JONES STOCK AVERAGES

By United Pres

Air Reduc

High

ies.. 54%

75% 78%

7. 17% 14

Bald Loco ctf.. Balt & Ohio .. Beni: “avs

Budd Bond Burro

Butler Bros

Calumet & H .. Canada Dry ...

io Ch M StP&P Chrysler Colgate P-p Colum Gas .. Com Inv Tr

| Com Solvents

.. 49 3 vari)

7a 34

1174

. 18's

123g 61

Commonw & So

Cons Edison Cons Oil Cont Bask RB Cont Can Cont Mot xh cont Oil Del . Oty: . Croslev Rad Crn Ck cunfww Crown Zeller. Cub-Am Sug... Curtiss-Wr ...

D Lac & W.... Diam T Mot

Elec Pvr & Lt El Pw & L $7 pf

Fajardo Sug Fed Dep St .. Foster Wheel. .

Gen Cable A

. B58

Goodyear Con Graham-Paige. . Grady ... .... Gt North pf.... Green H L.....

Hecker Prod .. Homestake ... Howe Sound... Hupp Motor

Il Central. ... Inspiration Cop Insshs cts Md.. Interchem ... Inter Iron Int Nickel

B. pf.. pg. Xo Intst DS .... Kelsey-Hayes A

Kennecott ' Kroger G & B

Lambert Tee Rub ....... Leh Val RR ... Ligg & My B .. oew's ........ loft. Inc ...... Lorillard

Macy R HK rts . Macy RH ..... Man Shirt

8034

20 7 49

32 41%

Low

687% 331% 19%

26% 20

49 32 413%

lin

50 33

1134 471, 41 wee fe 227% 25 5 51

. 20%

63's 13% 106 1074

25 16 60 21's

10's 233,

Marine Mid ... 1

Marshall Fld .. McCrory “ui McIntyre Porc. McKeesport .. McLellan St ... Mident Pet Minn-Moline Mission Corp .. Mo-K Tex Monsanto Mont Ward ....

25% 17 36

. 343% 14 . 30% . 13

261%; 6:

415 604

1134 47% 8034 1's

227%

60%. 60

Last Change

| i

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NEW BOND ISSUES

(By W. L. Lyons and Co.)

Atl City 314s '64 B& O4%5°'3 ........ B F Avery Sons 5s 47 Calif Oro Prw 4s 66 ... Cent Maine Prw 4s g

Cent Maine Pwr

Cinti G & E 3

CMO _23%s '42

ios

12s 67

Fla Power 4s '66

Fla Power 5s

Indpls Water 3

Los Angeles Rev 84s "77 ....

Narra Elec 315s

"66 Houston Lt & Power

128

'66

N Y City 3s 77 N Y State Elec Gas

Pac Lighting 4i4s ‘45 Scott Paper Co 3Ys '32 Union Elec 33s ’62

Union Elec 3s

‘42

West Chester 315s '67

Wise G & E 3

12s "66

Wisc Pub Svc 4s ‘61

FOREIGN EXCHANGE

Aug. 24.—Opening foreign Cable

NEW YORK, exchange firm.

England (pound England (69-day rate) .

Rill

Canada (dollar) ...

e y (m Switzerland

Spain (peseta) Sweden (krona) Norway (krone) Denmark (krone Japan (yen) ...

ark) .. (franc) Holland (guilder)

03781,

Rates 4.98 13-16 veer 4.98 1-16 4

951% 3125 '66 .10234 ‘66 997,

973%

9534 Northern State P 312s "67 .... 977 4

101% 1042

Net Change

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PRICE INDEX AND COMMODITY QUOTATION

DAILY PRICE INDEX NEW YORK, Aug. 24—Dun & Bradstreet's daily weighted price index of 30 basic commodities, com‘piled for United Press (1930-1932 average equals 100):

ceeeenes 131.74 | Year ago . gd vuee.....140.59 | 1937 high (April 5) 158.26

1937 low

Month ago 140.71

cree

Following are the commodity prices used in compiling the

daily price index:

Today $ 1.08% 1.0212 AT 315 6.85 «1135

Conitugig) - Wheat, Ne. bay... vo Corn, Ne. 2 yellow (bu.) Rye, No. ® (bu))........ verne

Lard, prime steam spt (Ib)... Coffee, Rio Ts sot. (Ib)........ 09 raw, 98 test (Ib)....ove 0360 9% wmcore RB) nnn i nS) i sales. (Ib)...

Commodity—

....132.34

(Aug. 23) 137.74

Lead,

Week Year Ago § 1.368% 1.0% 86 82 7.30 1130 09 035% of

Lambs, avg. most sales (1b)... $ Hides. native heavy steers (Ib.) Wool, fine unwash combing (Ib.) Cotton. mid-upland (Ib.)...... Silk, 13-15 deniers Jap (1b.)... 1 Rubber, spt smk rib (Ib.)...... Copper. electrolytic (1h.)....... spot (Ib. ... Zinc, spot (Ib). ... Tin, straits spot (Ib).......... Silver. comm’! bars (oz.)....... Steel, scrap Chi. (ton) ......... Pig iron, Iron Age comn (ton). Coke, Connelsville (ton) 4

Today

ceanns tranen

Yellow Pine, 6-in. base (M ft.) ‘Douglas fir. rough (M ft.)..... Gasoline, tank wagon (zal)... Crude oil, 40 gravity

(®bl)....

1305 BLE A1

0986 D2 1828 a4 065214 06871; 59% A434

10.98 28.25

.35 25

Week Ago $ .1050 L183 41 10568 1.9% 1325 a4 065215 06871 5934 448g 19.95 23.9% 4.35 2.25 60.00

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Year Ago 0900 a2 351% A101 1.75 16% 0934 0480 0490 421 4434

30 INDUSTRIALS 1.8% ~0.66 ~N.18 +0.56

Yesterday Week Ago Month Ago Year Ago High, 1937 High, 1936,

194.40; low 165.51. 184.90; low 143.11.

20 RAILROADS Yesterday Week Ago ...... savsasaen. B32 Month Age .......... ceases 34.40 Year Ago 52.70 High, 1937, 64.46; low 50.1%. High, 1936, 59.89; low 40.66. 20 UTILITIES Yesterday Week Ago Month Ago Year Ago High, 1937, High, 1936,

37.54; low 25.45. 36.08; low 28.63. 70 STOCKS Yesterday Week Ago Month Ago Year Ago Righ, 1937, High. 1936,

69.62; low 57.57. 66.38; low 51.20,

Net High. Low. Last Change. 3% 133 133

Mother Lode .. oi 342 + 5%

19 Motor Prod .... 34'2 - Ne . 12

Nat Aviation 12

| No Amer

| Pac G & E1 ...

Net High. . Last Change. Sperry-Corp ... 17% 4 8s + 1% td Brands 117 4 “wt td GQ. & E ... 8% Y : td G&E a .. 18% td Oil Ind ... 457% tone & Web.. 2214 tudebaker

3 + N W— s . 13%

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Transamerica . T WestAir Twin Coach .“ Union Carb ... Un Aircraft Cp Un r Lines.. Un Biscuit .... United Corp... United Drug . United Fruit.. Un Gas Imp ... Un Gas Imp pf. 108 US For Sec.... 17! Rubber... 57 Rub 1 pf.. 92% U S Steel ......112%

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Waldorf Sys.... Walworth .... Ward Bak B.. Warner Bros .. nion Westing EI Westvaco 5 Wilson & 0 Worthington

Yellow Tr .

253 253s .. 154% 154%; 333, 3324 674 634 3014 301, 351% 351% 34's 341s . 's a3 93, 92 - 14 37h IM ~ 1; 41, Shs

, Biscuit , Bis pf Cash Reg Dep St pf Distillers . Le

— LW COURS

Park Ut “at 5 Parker Rst Prf. 2734 Pathe Film .... 9! Peerless } Penney

| Phelps Dodg a

Phillips Pet Pitts 8c & B Plymouth Oil Y even, | Proctor & G.. 58% A 982 - Se Public Serv . } - Mj Pullman Cv 7 Reo Mot ..... - Ry Republic Stl ... - Reyn Tob B “rio, Ruberoid ...... 3% 33. 3B. 1 Seab’'d Air L... . 3 Sears Roebuck.. Shell Un Oil ... Silver-King . |

Sparks With

BROKERS HOPE TO DEFEAT FEES PLAN

Few Wire Houses Are for Proposal to Jump Rates.

Times Special NEW YORK, Aug. 24-—Members of the New York Stock Exchange are expected to defeat overwhelmingly the proposal to increase commission rates on the exchange, if the amendment is submitted to referendum by the governors at their

meeting on Wednesday, a canvass | of the leading brokerage houses indicated. : As the time for the governors meeting approaches, thé support for the plan originally sponsored by a special committee headed by E. A. pierce, senior partner of E. A. Pierce & Co., has dwindled to about six of the large wire houses. These houses may have sufficient influence to secure the approval of the governing committee, although if that body realizes the proposal will be soundly trounced in a referendum they may be reluctant to vote favorably. On the other hand, some governors feel that the question should go to the membership for a vote.

Trading Volume a Factor

The decreasing volume on the Exchange has caused @& number of members, who might have been in-

clined to support the proposal, to declare against it. Members of the committee, however, if the Governors approve the idea, are preparing to campaign vigorously for the enactment of the amendment, but even the most optimistic admit they are in for a stiff fight with the prospects favoring the opposition. They are hopeful, however, that the volume of trading may pick up, and that they may be able to convince members with other arguments.

BANK STOCKS

(By Atkins, Hamill & Gates)

Bankers Trust ........svveeun Bank of Manhattan ..... eve Central Hanover 122 Corn Exchange Chase National Commerci Chemical Continental .. . Guaranty Trust ............. Empire . Cea. Irving Trust First National .. ‘o's Manufacturers Trust .. National City .......

¥ ust .is Public National .... Fire Insurance

Aetna Fire Am Surety Continental . Firearms of N Fidelity Phoenix Glenn Fall Home Fire Sec National Fire Casuality Companies

Maryland Casualty

CHICAGO PRODUCE

Eggs—Market, firm: receipts, 7666 cases: fresh graded firsts, 21%c; extra firsts, 22c: current receipts, 19%c; dirties, 18c;

checks, 17. Butter—Market, firm; receipts, 10,572 tubs; extra firsts (80-91% score), 32@ 32%ec; firsts, 2934 @30 bes extras (92 score), 32@ec; specials, % Ya@33%c; seconds, 25@ ; standards, c; centrali (89 ; centralized (88 score), 30c. —Market, steady; receipts, 1 car, trucks; geese, 15@1l%c; 15% 6 17%c; hens, 19@23c; horn hens, 16l%¢c; spring chickens, 20@25¢; broilers, 18@24c; roosters, 13% @14%ec,; fryers, 19@25¢c; tur-

keys, 15017 AL @UTtkc; daistes, 17%

St 5%

eese—Twins, 17% ; longhorns, 1734@18c. Potatoes -— Supplies. liberal; demand, ull; California White : Ida ss Triumphs, $1.40 Russet Burbanks, $2.15; U. S 5 0@ 1.55; Nebraska Bliss Tr hs, $1.45; New Jersey Cobblers, 3 30a 1.35; Oregon Rliss aunhs, $1.65; Washite Rose, $2; Wisconsin Cobblers, 15. U. 8. Commercials, $1; Wisconsin Early Ohfos, $1. yy Trivels, 53, on track, 208; shipments,

=] FILES [3] comesvus..,

; Idaho $1.3

Young Sheet |

88% ei 40%

Zenith Rad 40',

LUXURY SALES SHOW PROMISE

Jewelers Forecast ~ Best Holiday Trade Since 1930.

Buy United Press NEW YORK, Aug. 24 —Manufacturers of jewelry, luggage and China giftware today predicted an cxcellent fall and holiday retail business in those items on the basis of actual

| sales being made at sales conven-

tions here. Retailers attending the 32nd annual convention and merchandise show of the American National Retail Jewelers’ Association said they expected the best holiday season since 1930 and possibly since 1929.

Prices generally were up from last year.

Hundreds of thousands of dollars

of jewelry and other jewelry store merchandise was on display and were guarded by 40 uniformed and plain-clothes policemen and private detectives.

Sales increases of 10 to 40 per cent over last year were reported by manufacturers at the show of gift wares imported from China. General prices were up 10 to 20 per cent over last year. Part of the heavy buying was attributed to retailers fears that the Far Eastern conflict probably will prevent further shipments of such goods in time for the Christmas season. Sales of various articles which started earlier in the month at the Chicago gift show boomed with the result that some importers reported orders more than 100 per cent over a year ago. Demand for luggage also showed a substantial increase over last year at the show of the Luggage and Leather Goods Manufacturers Association of New York, Inc. Prices were reported as “firm and slightly up” as compared with a year ago. An exhibit of early American luggage, including a trunk made in 1776 and a leather hat-box used by Abraham Lincoln in 1862, feature the show.

BROKERS’ OPINION

NEW YORK, Aug. opinion today: E. A. PIERCE & CO.—With sentiment temporarily upset and with traders wary of the present thin markets, it appears that further decline may be witnessed. REDMOND & CO.-—Some further moderate setback may take place from around present levels, but we believe that the market is in a buying range and expect an upward turn in the trend within the next few days. . LAMBORN, HUTCHINGS & CO. —It is difficult at this time to visualize a sustained downward move in stock prices and we therefore suggest that buying opportunities be watched for in the near term. SHIELDS & CO.—TIt is early to judge the full influence the removal of active legislative menace to the market will exert, but the first day’s response was disappointing to say the least. As trade developments are not likely to offer important buying stimulus until a week or more after Labor Day, at the earliest, there is nothing in sight to attract important leadership. Without such leadership continuance of ga dragging market is in prospect.

LOCAL PRODUCE

(The prices quoted are pald for stock gathered in the country, while for deliveries in Indianapolis the prices are 1 cent higher. Each full case of eggs must weigh 55 pounds gross.) a Eggs—No. 1 strictly fresh, loss off, 18c 02.

24.—Brokerage

Heavy breed hens, 5 Ibs. and over, 17%e: Leghorn hens, 13c; heavy breed broilers, 1937 stock, 2 lbs. and over, 20c; weghorn , 1987 stock, 2 1bs. and over, 18c: bareback broilers, k, 2 Ib over, l4c; old roosters, 4 feathered and fat, 5 . and over, eese, full-feathered and fat, 9 to 14 s., 4c. Butter—No. 1, 35¢; No. 3, 34¢. Butterfat—No. 1, 31c; No. 2, 29¢c.

HEAVY RECEIPTS SEND PORKERS DOWN SHARPLY

Weights Below 160 Pounds Drop 50 Cents in Local Market.

Values for hogs crumbled today, top dropping to $12 here in a 25 to 50 cent lower market. While Chicago and Indianapolis had half of the hogs on offer at the 11 leading centers, some of the smaller markets noticed a step-up in supplies and the general situation was very bearish, according to the Bureau of Agricultural Economics, United States Department of Agriculture. Eastern pork markets were of a mixed character, ranging from $1 higher to $1 lower. Grainfed steers and heifers sold

| steady today, but trading was only

| moderately active. Short-feds and grassers continued to have only fair support and ranged steady to weak. Four loads of prime 1150- | pound and 1191-pound steers cashed (at $17 to set the day's top. There were yearling steers scaling 920 pounds at $16.15 and two loads horned steers weighing 1212 pounds brought $16. Most grainfed steers and yearlings had a spread of $14.50 to $16, with grassers downward from $11 to as low as $7. Lower attempts in the vealer trade did not materialize as shipper competition developed into sufficient proportions to hold values generally steady. Good ot choice offerings held a range of $10.50 to $i1, with lower grades $10 downward. More generous lamb marketings allowed the urgent local killer demand of Monday to cool, and the comparatively high levels of yesterday were reduced 50 cents. Good to choice ewe and wether lambs bulked at $10.25 to $10.50, with comph to medium sorts from $8 to $9.75.

To Receipts 5000 2500 Ki 4000 1000 i dase Light Light (140-160) Good and Medium

Lightweights— (160-180) Good and

Medium (180-200) Good and Medium . Weights— 0) Good and (220-250) Good and Heavyweights— (250-290) Good

choice.. [email protected] . [email protected] choice.. [email protected] reeneaees [email protected]

choice... 11.706 12.00 choice.. [email protected]

choice... [email protected] choice.. [email protected]

Medium (2

and

Slaughter Pigs—

(100-140) Good and choice.. [email protected] Medium

[email protected] From Late Times Yesterday) CATTLE —Receipts, 1300— (550-900)

(Reprinted

» —-

HADRON iD

C (900-1100)

tt fk pk pk APICES

23339998 SR 2 >

25838332

0 3 SO © 3

. [email protected] . [email protected] [email protected]

(1100-1300)

(1350-1500) » 117. 15.00@ 16.50 [email protected]

(550-750) 12.75@14 50

10.75@ 12.75 . a2 . [email protected] [email protected]

C (750-900) Common, medium.

850@ 8.25 6.25@ 8.25 525@ 6.25

Choice Good ....... Common, medium

Good (heel) ....... Cutter, common and medium..

Vealers —Receipts, 600

Good and choice ......... edium .. «ea mnnns . Cull and medium

0S 338

—

83 833 x3 3%

(250-500) Gond and choice . Common, medium

Feeder and Stocker Cattle Steers

a» nD oD

_. SD

+/500-800) Good and choice. . Common, medium (800-1050) Good and choice Common, medium . Heifers—

Good and

oOWS— Good Common and medium

SHEEP AND LAMBS —Receipts, 1000--

Spring Lambs— hoy cavvasearenensns, os [email protected] Good [email protected]

10:30 9.00 4.50 4.00

299 rs

¥ 8 8% 82 3833

On a» oo

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

By United Press CHICAGO, Aug. 24. — Hogs—Receipts, 15,000, including 400 directs; market, 25 to 40 cents lower; top, $12.35; bulk good and choice 180-230 lbs., $12@ 12.30; 240-300 Ibs., RLBens: most good packing sows, $10@ Cattle Receipts, 7000; calves, 2000: strictly grainfed fim, active S10. $18. new 9-vear high; light yearlings, $17; severa lloads medium weight and weighty steers, $17.75@ 18.10; common, medium and good grades, very slow; stockers, active, $0 down to $6.50: all grassy she-stock, du 1 weak; bulls, weak, sausage offerings. $6.50 down, very few, $6.75; vealers, firm, handy; lightweights, $11.50. Sheep—Receipts, 8000, includin 2000 directs; spring lambs steady to weak, spots Sa31et; Duk sto alves, $10.50 . sown, ew, . a 65; sheep, steady, ewes, [email protected]. P

ket, 25@50c lower: bulk 200-235 1bs., $11.80 @11.90; bs., [email protected]; 250-283 . $11 00 lbs $11.25 150-1 $9.75@10; $10.25 down.

.50: - 1 [email protected]; roughs, lambs, $9.50 10. FT. WAYNE, Ind., Aug. 24 —Hogs—Market, 55@60c lower; 200-225 .» $11.70; - 250 1bs., $11.60; 180-200 ny $1600 180-

bs., $10, 90; 140- Ibs., $10.65: 130-140 3 120-130 Ibs. $10.15; 100-120

Roughs, $10; stags, $8.75. , $11. Lars io gs, $i Calves, $11

Bonds of the United States Government, Its Territories and Insular Possessions

Federal and Joint Stock Land Bank Bonds - Indiana Municipal and Corporate Securities Real Estate Bonds and Preferred Stocks General Market Securities

vd W.C. Brass 2

129 EAST MARKET STREET

New York Bonds

By United Press

BOND PRICE INDEXES 50 mn 20 Indus. Rails Util Yesterday . 91.9 80.5 101.0 Week Ago « 931 1.5 1000 Month Ago .... 91.3 83.5 100.7 Year Ago .... 91.5 05.6 105.6 Two Years Ago 89.1 80.1 100.8 1937 High .... 950 101.2 108.0 1937 Low ..... 90.8 20.1 99.3 1936 High ..... 94.8 100.4 06.2 1936 Low ..... 950.0 84.7 1035 1935 High « 04 86.4 103.6 93.1 1935 Low ..... 83.6 7.0 89.3 83.0 (Copywright, 1937, Standard Statistics Co.)

U. 8S. GOVERNMENT BONDS Treasury Bonds High Low 33s 1946-44 ...... vee. 1001 106.1 das 1952-47 } 2%28 1953-49 3s 1955-51 T%s 1960-55 2%s 1959-56 Home Owners Loan Bonds 2%s 1949-39 100.14 100.10 102.6 102.6

3s 1952-44 DOMESTIC BONDS Abitibi 5s 53 (M) Am & For P 5s 20 At TSF gen 4s 95 . B& O 4%s 60 ....... Beth Stl 4's 60 ..... Bu R&P con 4%s 57 .. 773 Can Pac 17 4 4s perp... Ch & O 3%s 96 E..... Chi Bur Qu 5s 71 Chi East Ch M8

a0 Bonds 24.4 04.4 95.5 07.6 90.0 100.7 03.4 100.2 93.3

Close 6.1

Chi W Ind en 4s 52 Clev Un Ter 5s 73 Col G&E 5s 61 Col G E 5s 52 May Con GN Y 4's 5 Dayt P&L 3'as 80 Del & H ref 4s 43 Den Rio G W 5s 55 Erie ref 5s 67 Goodrich 6s 45 Goody T&R 5s 57 ‘ Gt North 42s E 77 . Hud Man ref 5s 57 .. In Bell Tel 3'28 70 .... Li

fas 50 ve. Mo Pacif cv 5'%s 49... Mont Pow 33%

a .e “ae Postal T&C 5s 53 Reading 4'2s A 97... Rep StI C 415s 50 ... Seab Air Lin 6s 45 .... Sou Ry gen 4s 56 Tex & Pac 5s C 79

United Drug 5s 823 Young S&T 3's 51 ... FOREIGN BONDS Brazil 6'2s 26-57 Canada 4s 60 Canada 3%» 61 Cuba 5's 45 ...

WHEAT FUTURES BAIN SLIGHTLY IN CHICAG OPIT

Strength in Minneapolis Boosts Leading Cereal One Cent.

By United Press CSHICAGO, Aug. 24.—Strength in Minneapolis, where gains ranged to 2 cents in early trading, boosted the wheat market higher today on the Chicago Board of Trade. At the end of the first hour wheat was 1% to 1% cents higher, corn was % to 13% cents higher, and oats were 34 cent higher. The upturn in Minneapolis was considered by some traders as a lifting of hedges by exporters. A half million bushels were reported worked overnight out of Winnipeg and the trade took this to indicate a renewal of the foreign demand. The advance in Chicago reached 1%: cents before profit-taking checked the upturn. Wheat receipts were 107 cars, Corn pit activity today was chiefly concentrated in Sept. Futures which climber above 98 cents before profit-taking clipped the advance. Scattered selling on the upturn held down the advance in new crop futures, but May and Dec. futures were higher than at the opening. Corn receipts were six cars.

WAGON WHEAT City grain elevators are paying for No, 2 red, 95¢; other grades on their merits. Cash corn, new No, 2 yellow, 89§c, Oats, 26c., Hayv—No. 1 timothy, $15@ 15.50. WINNIPEG WHEAT Open Cha October 1.22 December May

ARGENTINE GRAIN BUENOS AIRES, Aug. 24.--Grain futures opened easy Wheat-—September, $1.26',, up ‘sc: November, $1.17'2, up ‘sc. Corn--September, 53%c, up Yac: November, 54%ac.

Italy 7s 51 Japan 6's 54 Japan 5':s 65

HELD PROSPECT

Lower Prices for Corn, Pork, Poultry and Eggs Called Early Eventuality.

Times Special

NEW YORK, Aug. 24.—It looks

more and more as if American farmers are in for a season of dollar wheat and 9-cent cotton. And figures just as gloomy can be cited for other farm products. Corn, for instance, appears riding toward a 60-cent level, while pork is going

to come down from its high perch after the stock raisers begin feeding that cheap corn. Poultry is bound to decline in value as feed grows cheaper; eggs are not liable to reach the high values next winter that ordinarily come with cold weather. Fats, like lard and cottonseed oil, have started downward after a long period of rising values. The lard people blame the decline on cottonseed oil; the cottonseed oil blame the decline on lard. futures plunged the full limit 50 points market. For four years before the depres- | sion started farmers were battling | against low prices. Then followed | four years of devastating drought. | This year bountiful harvests have | proved too strong a flood to be stopped by the slight barriers erect- | ed against price declines. | The agricultural problem looks as if it is heading right back to where | it was as long ago as the Coolidge | Administration.

Huge Harvest Surveyed

Down in Washington the Department. of Agriculture has been trying to figure out why a cotton crop of over 15,500,000 bales is being picked this season, when acreage sown to the plant last spring was “a reasonable 35,000,000.” The South has planted as many as 46,000,000 acres to cotton in a season. A cut of 10,000,000 acres from the high it was thought ‘would keep the crop within bounds. The department's experts have worked out the following answers— (1) favorable growing weather, (2) exceptionally low damage from boll weevil, (3) use of best land since soil conservation took poor acreage out of the running, (4) better cultivation due to smaller acreage. The Crop Reporting Board figured yield this season would average | 223.3 pounds per acre. That figure if realized, will set an all-time record. The next highest yield was 223.1 pounds per acre in 1898. It is well above the average yield when the country harvested its all-time jecord crop of 18,000,000 bales in!

of |

> | |

| Progress Laundry Co

people | Lard | Smith Aesop P & V

in yesterday's bearish!

Customs

up Yase. Oats—Spot, 26%ec, off ‘ac. Flax er ember, $1.3434, unchanged: November, $1.33's, unchanged.

» LIVERPOOL WHEAT Prev. w Close Close 12 $1.24, $1.22%, la 1.24% 123% Ya 1.22% 1.20%

High Lo $1.24'2 $1.22 . 1.25% 1.23 . 1.22% 1.20

LOCAL ISSUES

The following quotations do not represent actual bids or offerings but merely indicate the approximate market level based on buying and selling inquiries or recent transactions. (By Indianapolis Bond & Share Corp.)

BONDS Ask

Citz Ind Tel (TH) 4'.s 61.. 103 | H Tel & Tel Fh W 5%s 55.... H Tel & Tel Ft W 6s 43...... H Tel & Tel Ft W Ts Ind Assoc Tel 4'es 65 Indiana Tel Co 6s 60 { Ind Railways Inc 5s 67....... Hf | Indpls Water Co las 66 . ’ Interstate Tel & Tel 5%s 53.. Kokomo Water Works 5s 58.. Morris 5&10 Stores 5s 50 ..... Muncie Water Works 5s 65 ... Noblesville H IL, & P 6'2s 47. Ohio Tel Serv 6s 47 .. ‘ny Public Tel Co 45s 55 . | Richmond W W 5s 57 | Seymour Water Co 5s 49 'TH Trac & © 5s 44 { T H Water Works 5s 56 .... | T H Water Works 6s 49 . | Trae -Term Co 5s 57

STOCKS

Belt R R 8t Yds com | Belt R R 8t Yds pfd.. Cent Ind Power pfd Ts ‘ens of Home Tel & Tel Ft W 7s .... Hook Drug Inc com rene. Ind & Mich Elec 7s Ind Gen Serv Co Ind Hydro Elec Co 7s Indpls Gas Co com oT Indpls Pwr & Lt pfd 6s ‘en Indpls Pwr & Lt pfd 6'zs.... Indpls Water Co pfd 5s he Lincoln Natl Life Ins Co com P R Mallory com _s . N Ind Pub Serv Co pfd 5':s.. N Ind Pub Serv Co pfd 6s.... N Ind Pub Serv Co pfd 7s com 66 Pub Serv of Ind pfd 6s Pub Serv of Ind pfd 7s pid ' Smith Aesop P & V com ..... Terre Haute Elec Co 8s nUion Title Co com Van Camp Milk Co pfd .. Van Camp Milk Co com . (By M. P. Christ & Co.)

Market St. Investing Corp .. 38.84

Dec. March

Bid 101 103% 104; 501;

U. S. STATEMENT

Washington, Aug. 24.-—Government exe penses and receipts for the current fiscal year through Aug. 21, compared with a year ago. This Year Last Year Expenses $1,092,573,442.67 § 837.660.756.468 Receipts 761,258,989.68 567,026,927.57 Deficit 331,314,452.99 270,633,829.09 Cash Bal . 2,830,340,840.32 1,989,400 994. 08 Work Bal, 1,020,551.355.88 1,526,801,088.50 Pub. Debt 36,061,683,239.08* 33,398 888 173.48 Gold Res .12,537,425.096.39 10.689. 785 115 41 A7.846,715.03 55,591,619.48 Today's Pure Total Pure Inac. Gold 2,341,023.38 $1,305,087,161.88 *New high. CHICAGO, Aug. 24. —Sweet Potatoes—e Tennessee, bushel baskets, [email protected]. Carrots—Illinois, bushel, 75@9%0c. Spinach —Illinois, bushel, 40@ 50c. Tomatoes Michigan, 12-qt. baskets, 25@60c. Caulie flower, crates, $1.15611.25 Peas—Colorado, hampers, $1.35@ 1.50. Celerv—Michigan, flat crates, 40@60c. Onions (50-Ib. sacks) — Wisconsin, Minnesota, yellows, 80c; Idaho, whites, $161.10.

LAND BANK BONDS

Bid Asked Yield July 1855-45 1002 100% 2.90 January 1956-46 2.01 May 1956-46 wou 10 22 May 1955-45 ‘eve ! 8 July 1946-44 ... .. 8 Nov. 1057-37 May 1058-38 .... May 1957-37 10054 ber 1858-38 10334

4s 44s 4's: Novem

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