Indianapolis Times, Indianapolis, Marion County, 26 August 1937 — Page 18

PAGE 18

MARKET SHARPLY

OF ORIENTAL WAR

Prices Drop to New|

Low Levels Since Mid-June.

By United Press NEW YORK, Aug. 26.— Shooting of the British ambassador to China by Japanese machine gunners was a principal factor in heavy selling on the Stock Exchange today. Prices were driven down to new low levels since midJune in trading so active that the tickers fell behind.

Losses in rails featured early domestic bond trading todav. TU. S. Governments declined 1-32 to 13-32 point. Industrial shares led a moderate recession in curb stocks in dull trading today. Losses ranging to more than 3 points were forced in all sections as offerings poured in. The height of the sales was reached at 11:37 a. m. when the tape was a minute behind. Shorts started the decline and timid longs then joined the selling group. Before noon, the list quieted and prices came back slightly from the lows. In addition to the tense foreign situation the market had before it the prospect of a general railroad strike as the railroad managements turned down flatly all negotiations for higher wages. Rails had losses ranging to 3 points in Union Pacific which made a new low for the year. Chesapeake & Ohio also made a new low. Southern Railway lost more than 2 points.

Market Firms In Midsession

Around noon the market had settled down to an orderly course, but prices had difficulty maintainin the slight advance from the earlie lows. Traders after they had sold part of their holdings were reticent to enter the list on the buying side and volume dwindled to the recent light levels.

FIRST HOUR

The market opened lower, industrial and railroad shares leading the decline. U. S. Steel, Bethlehem, Monsanto Chemical, Chrysler and Douglas Aircraft all recorded losses of a point or more. Among the rails, Southern, Northern Pacific and Atchison had losses of a point or more while fractional losses appeared for Southern Pacific, New York Central and Chesapeake & Ohio. West Penn Electric preferred issues were strong—gains ranging to 3 points—to give a fair tone to the utility list. Farm equipments weakened under lead of Case which dropped 2 points to 170. Volume approximated 190,000 shares compared with 150,000 in the first hour yesterday. Dow-Jones Averages—Industrial 180.70, off 1.00; rail 51.10, off 0.50; utility 27.68, off 0.15.

SECOND HOUR

Fairly heavy selling broke out and tickers got as much as a minute late. Some of the industrials came back from their lows, but trading quieted. TU. S. Steei dropped to 110% and then rallied to 1103 for 25; loss. Bethlehem Steel reached 92 and came back to 933% where it was 2% lower. Chrysler reached 1081: and came back to 109% for 2 points loss. Case at 169 was 3 points lower. Deere & Co: and International Harvester at 110% was 2 points lower. New York Central at 36% was 1% lower, Southern Pacific at 41% was 7% lower, Atchison at 73% was 17% lower and Union Pacific reached a new low at 116, off 3. Chesapeake & Ohio reached a year’s low of 48%, off 1'2. Allied Chemical dropped 5 points to 227 and Goodyear preferred was 6 points lower at 116. Volume approximated 350,000 shares compared with 80,000 in the second hour yesterday. Dow-Jones Averages—Industrial 178.50, off 3.20; rail 50.57, off 1.03; utility 27.46, off 0.37.

® o

Today's Business At a Glance

GENERAL BUSINESS

Dun & Bradstreet Inc., reports week ended Aug. 24 food index declined to $2.87 vs. $2.90 previous week and $2.82 year ago.

CORPORATION REPORTS

Bulova Watch Co., June quarter net profit $566,351 or $1.74 a share vs. $233,530 or 72 cents year ago. Chesapeake & Ohio R. R. Co, week ended Aug. 21 ewn lines loadings 23,539 vs. 23,708 previous week and 24,066 year ago. Chicago, St. Paul, Minneapolis & Omaha Rwy. Co., July net operating deficit $75,424 vs. net income $168,611 year ago; seven months net operating deficit $600,203 vs. $61,114 year ago. Consumers Power Co. June net income $664,911 Vs. $585, 641 year ago; 12 months net income $9, 867,912 vs. $8,289,686 year ago. Delaware & Hudson Corp, July net operating income $177,260 vs. $158,223 year ago; seven months net operating income $2,282,258 vs. $1,317,309 year ago. Lehigh Valley R. R. Co, July net operating income $347,241 vs. $858,63¢ year ago; seven months net operating income $3,853,287 vs. $4,472,572 year ago. Nehi Corp. and subsidiaries, first six months net income $410,198 vs. $178,496 year ago. New York Central R. R. Co., week ended Aug. 21 own lines loadings 41,898 vs. 42,152 previous week and 89,628 year ago. New York, Chicago & St. Louis R. R."Co., week ended Aug. 21 own lines loadings 5,522 vs. 5,559 previous week and 5,222 year ago. Standard Gas & Electric Co. and subsidiaries, first six months net income $2,614,823 vs. $2,026,789 year ago; June net income $137,762 vs. $4,717 year ago; 12 months ended

June 30 net income $4,652,145 vs.

Sept. 30 record Sept. 10.

DECLINES ON NEWS

MARKETS AT A GLANCE

Stocks lower in active trading. Bonds lower; U. S. Government issues lower. Curb stocks lower. Chicago stocks lower. Call money 1 per cent. Foreign exchange easy. v Cotton firm on Japanese buying. Grains MiP in Chicago; wheat up 1’ to 13% cents a bushel. Rubber barely steady. Silver unchanged in New York at 443% cents a fine ounce.

Curb Stocks

By United Press

Aero Sup B Alum Vo .Am .... Am Box Brd Am Cyan B .... Am General .. Am Maracaibo Am Super .... Ark N Gas A .... Austin Silver ... Barium Stl Brown Co pf .... Can Macaroni Carrier Corp .. Cities Service . Cities Serv pf ... Col O&G Con Cop Mns Cord Corp Creole Pet Cusi Mexic

Gulf oil. . Humble Oil imp. O Can .... Ind P&L pf . Iron Fireman Jones&Lau Stl McWms Dredge Mich Pumper Molybdenum

Pantepec St Regis P Seiberlin SherwinSinger Mfg ..... RET Std 0il Ky Sterl Brew Sunray Oil Un Gas Cp pf Un Lt & Pw Wright Harg

Adams Rovalty Ceti OY Autom Washer of Bendix. Aviat ........ Borg Warner .......... Butler Bros Chicago Corp . ay Chicago Corp cv of. Cities Service ... Comwlth Edison Consol Bis ‘ Gen Hshld Ut . Hupp Motor ... Iron Fireman ..

Peabody Coal B . ~~ Pict Paper . oD hb 51 Sunstrd Mch T . i | T

$3,340,902 preceding 12 months. I Atchison, Topeka & Santa Fe Rwy. Co., July net operating income $4,558,941 vs. $3,689,553 year ago, seven months net $13,514,036 vs. $7,424 444 year ago. General Outdoor Advertising Co., Ine. June quarter profit $589,180 vs.

profit $358,300 year ago; six months | ¥ profit $332,574 vs. $101,366 year ago. Northern States Power Co. of Minnesota, twelve months ended June 30 net income $6,017,012 vs. $4,787,002 preceding 12 months. Panhandle Eastern Pipe Line Co, gross 12 months ended July 31 totaled $8,586,387 vs. $4,566,758 preceding 12 months. Pennsylvania R. R. Co. July net operating income $6,937,712 vs. $7,870,970 year ago; seven months net $42,546,911 vs. $42,864,936 year ago. Western Maryland Rwy. Co., first seven months net income $1,118,899 vs. $669,814 year ago, July net income $146,281 vs. $104,512 year ago.

DIVIDENDS

American Power & Light Co, $1.50 on $6 preferred and $1.25 on $5 preferred payable Oct. 1 record Sept. T vs. like amounts on previous quarters. American Safety Razor Corp, regular quarterly 50 cents payable

Bell Telephone Co. of Canada, regular quarterly $2 payable Oct. 15 record Sept. 23. Briggs & Stratton Corp., quarterly $1.25 payable Sept. 15 record Sept. 3 vs. 75 cents previously. National Malleable & Steel Castings Co. 50 cents payable Sept. 18 record Sept. 4 vs. like amounts July 24 and April 17. Wheeling Steel Corp. initial quarterly $1.25 on $5 preferred stock, and $1.50 on 6 per cent preferred payable Oct. 1 record Sept. 24 vs. $1.50 on 6 per cent preferred July 1. General Outdoor Advertising Co., Inc, $3 on preferred on account of accumulations, $1.50 of which is payable Sept. 25 record Sept. 15, and $1.50 payable Oct. 25 record Oct. 15. G. Kreuger Brewing Co. quarterly 12% cents payable Sept. 16 record Sept. 9 vs. 25 cents previously. Illinois Bell Telephone Co., regular quarterly $2 payable Sept. 30 record Sept. 18. Parke Davis Co., 40 cents payable Sept. 30 record Sept. 13 vs. like amount on June 30. Pathe Film Corp. regular quarterily $1.75 on preferred payable Oct. 1 record Sept. 23. Perfection Stove Co. regular quarterly 37% cents on common payable Sept. 30 record Sept. 20. United-Carr Fastener Corp., regular quarterly 50 cents on common payable Sept. 15 record Sept. 10. Truax-Traer Coal Co. quarterly 50 cents on common payable Oct. 30 record Oct. 15.

regular |

Adams-Mil Air Reduc ... Alaska Jun

Anaconda Arch-D-M Armour Ill .... Atchison ver Atl Refining ve Atlas Corp .... 1

Bald Loco Balt & Ohio ... Barker Bros Barnsdall . Beatrice Or ...

Bucyrus« Erie ~~ Burroughs Butler Bros ...

Caterpillr T pf 104 Callahan Zinc .

Caterpillar T : "9

Colum Gas .... Com Credit ... Com Solvents Commonw & So 2%,

Con Textile .... Container 2

Re wr

Deere & Co D

East Eaton Mf Elec Music Elec Pwr & Lt. 20% Bau Bidg ....

Fed Mot Follansbee ..... 4% Foster Wheel Freept Sulphur. 29%

Galir ont Ge

plo... Kimbel Bros Je Gobel, Goebel Brew ... Goodrich Goodyear ws > | Graham-Paige Gt North 8 | Greyhound c¢p..

Hecker Prod ... Holland Furn Homestake Houd-Her Houston Oil ....

111 I

Kelsey-Hayes B 12% Kennecott .... Kroger G&B ...

Long Bell, A Lorillard

Macy RH loss $256,606 preceding quarter an® | Mar

Mead viv Miami Cop ....

Mueller Br ....

Nash-Kelv Nat Acme Nat y Nat Cash Reg .. Nat Dairy Nat Nat Gypsum ... Nat ad «ov. 8 Nat Steel Nat Supply 5 Newport Ind ...

sent actual indicate Re approximate market based on buying and selling inquiries or recent transactions.

Citz Ind Tel (TH) Sus 61.. H LX ‘

Ind Railways Inc Indpls Water Co

Kokomo Water Works Morris 5810 Stores 5s 50 Muncie Wate

Ohi 6 Public Tel Co 55 Richmond W W bs 57 Feymanr | Water co " © & L 5

TH Water Works 5 56. T H Water Works 6s 49 Trac Term Co 5s 57

erv Co Ind Hydro Cg oo Ts Indpls Gas C Indpls Pwr & °Lt “ota 8s Indpls Pwr & Indpls Water Co pfd Lincoln Natl Life Ins %o com. P R Mall ; N Ind Pub Serv Co fd Bles.. N Ind Pub Serv Co pfd N Ind Pub Serv Co pe, a5 Progress Laundry

Market St.

FOREIGN EXCHANGE

NEW exchange

England ( England ¢ Ca (dol

France (franc) .. Ttaly | Belgium (belga) Germany (m

Sweden (krona) .. Norway (krone)

THE INDIANAPOLIS TIMES

oo MAU Dn LA 5 nat

LATEST NEW YORK us

High Low oo 25% 9% «11% 5

— BY Capit Adm A

133

Lac & W... 14%

187% 33% Ind 5%

Kodak ..

65% ©. 397 29 vg li coe A3Ya Am Inv .. ] Electric ...

13% 1434 54% 367%

Adolf

pi -

HO Central

nt T&

.hman

rtin G % TcKessond: Rob .13% Corp . 28Y;

Distillers. . - 30

341

34% 343%

LOCAL ISSUES

The followin uotations do not reprebids oo offerings but mrely eve

(By Indianapolis Bond & Share Corp.) BONDS

Tel & Tel F

5s 6 31s 66 nterstate Tel & Tel 5%s 53. 55 58..

er Works 5s 65... 1 P 6ks 47..

Lt Rea, 9 28. .

ory com 65.

Co ¢ pid

(By M. P. Christ & Co.) Investing Corp ... 34.38.36.56

YORE og um foreign ble Rte Change

und) 8 Ya

i : a lar) 1-097

nada . (lire)

ark) Switzerland pain (peseta)

(Copyright, 1937, by United Press)

Denmark (krone) .. Japan (yen)

DOW-JONES STOCK AVERAGE 80 INDUSTRIALS

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

20 RAILROADS

Yesterday ..... ere Ye YY ever 51.60 Week ago .....ovoee PRY YY Month ago ...... ETRE . 52.98 Year ago High, 1937, 64.46: low, 50.17, High, 1936, 59.89; low, 40.88.

20 UTILITIES

-l), 60 “2.11 +0.44 +8.45

... 188.01

High, 1937, 37.54; low, 25.45. High, 19386, 36.08: low, 28.68. 70 STOCKS =0.25 -0.61 -0.12

Yesterday Week ago Month ago Year ago 61.11 <4-1.24 High, 1937. 69.67; low, ST.57. High, 1936, 66.38; low, 51.20.

Net High. Low, Last Change. pA

3% 3h -— 13 13 -— 1p 1% % — 2 11 .

N_Y Central ... NYNH&H of ...

oo 1 wil) 18 Shp ml, 8, tgel ...... i B Ill Glass 96

Pac Finance ... 20

h'BR ..».w Phila Read © I bhillips Pet ... 58 Pitts Sc&B .... Pittston ullman ure Oil

Reyn Spring ve

St Jos Lead ...

rift Co . Sunshine Min. .

Thomp Star ... Timk D Ax .... Transamerica 20th Cent Fox

. 36% 38%

* si Joi Und El yeh, . 88 . 99%, 2475 17% Un Aircraft Cp. 27% Un Air iLnes.. 15 United Corp ... 5 United Drug ... 11% Un El Coal .... 8% : ve 138 a wo 31% US Ind Ale ... 34%

: ECONOMY DRIVE MAY

SOLVE PUBLIC DEBT

Congressional Leaders Plan Drastic Reductions.

By United Press WASHINGTON, Aug. 26.—Administration Congressional leaders today planned a drastic economy drive to balance the budget for the next fiscal year and to make progress toward reduction of a record-breaking $37,000,000,000 public debt. Acting Chairman Clarence Cannon (D. Mo.), of the House Appropriations Committee, detailed plans for the campaign in a statement to reporters. He asserted that reductions were in order “all along the line,” some as much as 30 per cent, with curtailment or elimination of some Federal activities. Rep./Cannon, one of a group of House leaders who remained after adjournment to discuss the future legislative program with President Roosevelt, has assumed active direction of the Appropriations Committee because of the recent illness of Chairman Edward T. Taylor (D. Colo.). “National income is improving, Federal revenues are rising, repayments of Federal loans will come in rapidly and the country is recovering steadily,” Mr. Cannon said. “We expect to balance the budget next year and by 1939 begin payments on reducing the national debt.” Rep. Cannon conceded that it would be difficult to cut some appropriation bills next session.

BROKERS’ OPINION By United Press NEW YORK, Aug. 26.-Brokerage opinion today: E. A. PIERCE & CO.—In the absence of news developments we

" would maintain a cautious attitude.

SHIELDS & CO.—The extremely thin character of the market leaves it vulnerable to unexpected heavy offerings and this exaggerates cau-

‘=| tion of traders at a time when the

business outlook becomes uncertain.

LAMBORN, HUTCHINGS & CO. —The indications still suggest that current correction has not quite run its course and the next few days once more should be critical. We can only suggest in the meantime a waiting position, watching for signs of the beginning of a better market and resumption of upward trend Shee more after the current correcon.

HORNBLOWER & WEEKS—Under the prevailing market restrictions, it is difficult to discern whether selling pressure is definitely subsiding or merely being held in abeyance due to the absence of a nearby demand for stocks.

PRICE INDEX AND COMMODITY QUOTATIONS

DAILY PRICE INDEX NEW YORK, Aug. 26.—~Dun & Bradstreet’s daily weighted price index of 30 basic commodities, compiled the United Press (1930-1932 average equals 100) :

....138.24 | Year ago veveee.. 189.18 | 1937 High vieeen. 140.60 | 1937 low

Yesterday Week ago Month ago

Following are the commodity prices used ih comviling the

daily price index:

Today $1.09% 1.083% BR% Sin 6.85 1025 09 0360 8334

Commodity Wheat, No. 2 red (bu)..... Corn, No. 2 vellow (bu.)..... Rye. No. 8 bu) ........covuvn Oats, No. 2 white (bu.)....... . Flour, spg pat (196-1b. sk... Lard, prime steam spt (Ib)... Coffee, Rio 7s spt. (Ib.)...... - Sugar, raw. 96 test (Ib.).... Butter, 92 score (Ib.).......... avg. most sales (Ib)... ID) eve

Commodity —

Hides, native heavy 132.11 (April 5) 158.26 (Aug. 23) 137.74

Cotton, mid-upland

Copper, electrolytic Lead, spot Zine,

Year Silver. comm’! bars

Pig iron, Iron Age ©

Lambs, avg. most sales (Ib)... Wool, fine unwash combing (Ib)

Silk, 13-15 deniers Jap (Ib)... Rubber, spt smk rid (Ib). cu.

Year Ago $ 0025 a2 S5% 1188 1.72 16%

Today $ 1085 8% 41 0978 Bile 1828 J4

— $ .10%8 J8% 41

steers (Ib.) ab) yen

IDF vwnvven

MD.) cova spot (b.)..... Tin, straits spot (Ib.)..

sees essenne

CEE EEN

OB.) vuvunn

Steel, scrap Chi. (ton).........

omp (ton).

Coke. Connelsville (ton) Cement, dom. Portland (bbl.)... Yellow Pine, 6-in. base (M ft.) Douglas fir. rough (M ft.) ‘Gasoline, tank wagon (gal.).. Crude oil, 0 eravity (bbl) ..

s Divers C

8 Low, Last change.

8 3 HI% 101%

6 5% Veena 1% i JEN

Vadsco Sales .. ri Va Caro Ch .. 8 8s Va Car 6 pf .. 55% 55% —a. Walworth ...... 14% Warner Bros vs 14

14% 14% 41

SIHEEIET:

Worthington ...

Yellow Tr

22 21% Young Sheet .. 87% 87% il Zenith Rad .... 42

1% 41%

MANILA STOCKS MAY BE LISTED

Much Interest Is Shown in Philippine Shares in San Francisco.

By United Press SAN FRANCISCO, Aug. 26,~Possibility is seen here that the San Francisco Mining Exchange may list a dozen or so of Manila’s leading mining stocks “after the storm of speculation” settles in the Philippines. Over-the-counter trade is being carried on in San Prancisco in Benguet Consolidated Mining Co. and Balatoc Mining with fair regularity and although no Philippine stocks are listed on Exchange boards now,

interest in them has notably quickened during the past quarter, Paradoxically, the tremendous mining boom appears to be waning in the Commonwealth, but this very recession may lead to trading in solid Philippine stocks here, it was learned. Frank J. Carter, secretary of the Mining Exchange, told the United Press he had had frequent inquiries of late by mail and in person from men interested in trading in Philippine mining shares. Carter said no Manila applications are on file at present but indicated the exchange’s listing committee stood ready to give prompt consideration to all requests. Seek Permanent Basis

“With all the baking powder gone out of their boom, Philippines interest naturally want to branch out now on a more solid and permanent basis and will look to the West Coast and particularly San Francisco for investors,” one exchange official said. “It is highly possible that after the settling process is completed, and a really stable market in Manila established, their leading mining shares will be actively traded here—possibly only three or four, possibly a dozen or more.” It was not believed that the requirement of registration with the Securities and Exchange Commission would deter eventual listing of the “better class” of stocks.

Investment Idea Grows

With the volatility of speculation boiled away, the type of buyers attracted will be those interested in solid investment, thus contributing healthy stability to the picture, Carter indicated. The exchange here lists 64 stocks today, compared with 108 when the Securities and Exchange Act took effect in 1934. There were 58 listed June 1, 1936, and six have been added since then. The following is a table of volume of business on the exchange since 1933:

1933 1934 1935 1936 1937 1st 6 mo..

Shares 25,606,000 14,330,000 6,773,000 6,017,000 4,000,000*

ses E Rr Sesser ene

* Approximation. In March alone trading hit 1,377,000 shares. There are three other leading

mining exchanges in the West, at|¢o

Salt Lake City, Spokane, Wash,

and Seattle,

BRAZIL MAY SETTLE

DOLLAR DEBT SOON §

By United Press RIO DE JANEIRO, Aug. 26.— final arrangements for servicing of Brazil's dollar debt are nearing completion and may be announced next week, Finance Minister Arthur Souza-Costa indicated today. He said arrangements probably would be submitted to United States bondholders soon, and added: “We are still studying the matter. I am unable at present to discuss the situation, but next week I may be in a position to make positive declaration.” The Finance Minister recently returned from the United States where he discussed the debt with American bankers.

INVESTING CO.’S

Bid Ask Bid Ask F 2d 13. 58 190.77Ine Invs 24.0 Adm d 098 106 #3Ins Gr Shrs 13 75 39.5010 Fat

8.550

=F Baan

. Jaana i . [PDID WOODARD RR

Pek ft dh pt ot pt et © 0 | PRADO.

D Divid Shrs Equity 7 hen Fix Tr A

Inv In 8

oro Cy Stes FS pes JERR ONND OY PRON =r ND TD Des NOY SESAIUSIVASEIB ET TUITILIIT

OC IIB NID NI

— ad

Wo 383 xn 1] on [3 we — It nO

18 Bu: 308: SVT: 3. .:

vow yy 8

, Be ae TY InsIIRG3;

PORK RECEIPTS EASE AS PRICES REMAIN STEADY

Weights of 180 to 200Pound Animals Advance 5 to 10 Cents.

The decline in hog prices which

w, | began a little more than two weeks

ago and carried the top downward $2 per cwt,, was checked today, according to the Bureau of Agricultural Economics, United States Department of Agriculture. Expanded support from shippers, augmented by improved local packed outlet, enabled sellers to hold the price trend on a generally steady. level. There were exceptions to this, however, weights between 180 and 200 pounds showing 5 to 10 cents upturns. Top at $11.75 was the same as on Wednesday. Offerings of fat cattle were very

meager, Hardly enough steers and 3

heifers put in appearance to test the market, but prices were generally considered steady. A firm undertone was in evidence on strictly grainfed kinds, one steer scaling 1190 pounds and of show caliber sold at $18.25. Other odd heads made $14 to $16, with most of the kinds shown moving at $7 to 10. A 50 cent upturn in vealer prices accompanied moderate marketings and a higher trend at outside points.

Bulking within a spread of $11 to

$11.50, good to choice vealers found active shipper outlet, Most medium’ grades moved at $9 to $0.50, with other grades downward to $7.50, Little change was registered in the sheep and lamb division compared with midweek as far as upper crust buyers continued to hammer Kinds on the culls and comon order. Good to choice offerings held at $10 to $10.25 and mediums from $9 to $9.50. Common throwouts, however, in an unevenly and sharply lower trade for the week to date, sold downward to around $7.

= ©

Recelpts J000

Bt pt pd pk pt DI RINDI

1000 3000 6000 | 4000 3000

Soke $13 004i 11.50 50a 11.00

SNS

aa =

26, Light Li % 140- A Good and Medium

Lighted hts 160-180) Sood and

Medium . (180-220) Good 2m Mediu "

Medium Weights (200-220) ood _ and (220-250) Good and Heayyw weights 0-290) Good and (290-380) Good and

choice. .

choice... choice .

choice choice. .

9.25010.35

0.25@ 10.25 8.756110.00

(273- 330, Medium

Sia hter Pi (100- 140) dood and choice. .

30-500 Oi

—

(900-1100)

3 pt at pt

RG FR AS iD DIS TIUID IN

SCN Ch aa

[DARD S=

ny (plain)

Prime 50

(1100-1300)

DINO DIPIPN 3 DT 3333233333333

71 71 il 16.85 | 9.00712. 25 | vo. 18.507 17.50 | + 15.006 186.70 [email protected]

(1350-1500)

12.157 14.75 10.75@ 12.75 5.75@10, 3

(550-750)

Goo and ‘choice

(750-900) Common, medium

Buls, goo “ Cutter, common .

Good (beef) ' Cutter, common and medium . Vealers ~Receipts, 600—

Good and choice Medium . FREY RE yy Cull and medium

(250-500) 34 and choice . Common, medium

Feeder and Stocker Cattle Steers (800-1050)

ood and choice . mmon a mmon, medium Heifers

Good and choice ory, Common and medium ...... = mmon and medium ...... BHEEP AND LAMBS ~~meceipts, 1500 Spuing Latrbs— Choi

(500-800)

10.00% 10.25 9.50% 10.00 7.25@ 9.50 6.75@ 7.25

3.00@ 3.75

4 or I 178) Good and choice . 1.75@ 3.00

Common, medium By United Press LAFAYETTE

. 9. -180 Ibs 8 59. 25; be Whines $10 down. Calves, 816

a1 50; lambs WAYNE, Au Market

10 Lh higher; 50 Ibs. 1.40;

$0: ; "12 13 go:as $0.75; lambs, $10.

BUILDING AWARDS DECLINE IN WEEK

By United Press NEW YORK, Aug. 26.-—Engineer= ing construction awards this week totaled $37,338,000, a decrease of 14 per cent compared with the previous week's aggregate of $43,341,000 and of 22 per cent compared with volume of $47,710,000 in the corresponding | N bt week, Engineering News-Record reported today. This week's private awards were $17,076,000, against $10,662,000 a week ago and $11,879,000 a year ago, Public contracts totaled $20,262,000, compared with $2%,670,000 and $35,831,000, respectively. Federal awards aggregrated only $3,510,000, against $2,247,000 last week and $12,104,000 in the 1936 week, while state and municipal awards were $16,752,000, against $21,432,000 and $23,727,000, respectively.

MONEY MARKET

NEW YORK, Aug. 26.-Money rates remained or eetpam - Bankers A - 350 days, %a

218%; 60 and «16%; "a 9-1 3 y Sass. 6@ 2%; Ho ana N00 anys per—Prime names,

stags, $8.50; calves, $1.50;

Comm 150 ana 191 ty i 114%. Rediscount. on Time a tl ahd 90 days. 1%%: 120,

General Investors Trust Common Stocks Intelligently Selected T. P. BURKE KE 8 COMPANY

New York Bonds

By United Press

BOND PRICE INDEXES 20 20 Ind, Uh. 91.0 00.9 92.0 101.9 101.9 106.8 100.9 106.0 ".3 106.2 103.5

2 Bonds Yesterday ..... 24. Week ago ..... Month ago .... Year ago Two vears ago. 1937 high 1937 low 1936 high 1926 low 1935 high . i) 103.6 1935 low . ne #9.3 (Copyright, 1007 Standard Btatistics oo.)

U. 8. GOVERNMENT BONDS Treasury Bonds

Hig 142-40 June ... 041 105.3

LA 75.6 "ne 90.0 100.7 PA

Federal Farm Mortgage Bonds 1064-44 ..102.20 102.20 Home deisel on Ponds 2%s 1949-30 100 2%s 1944-42 ......... 19: 27T 99.2 3 1052-44 ..... 101.22 101.22 Bank Bid

Federal Land 1001,

1001, 100 {a

gan) Pac deb 4 CenPac Bs hes&Oh 314

h 3Yar hi st ge 51

M: ChiINW 4%s 40 ChiRI 4'4s 60 , ChiUnSt 3% 6 oniwing Sh 45 52

lambs were concerned, but |g

Int Hy BI 6s Int T&T A, 4%8 30 .... 89 jews Ine 2V%s 48 .... Long Tsl ref 4s 4p cKe&R 5%x 50 Mo Pacif cv 5'as 40

Bhell Uh O 3'%s 81 .... | Btan Oil NJ 3s 61 United Drug 5s 53 Young B & T 4s 61 POREIGN BONDS

Brazil 6Ys x Bl «vy

EXCHANGE PARLEY £ ARGUE RATE CHANGE

Governing Group Unable To Reach Decision,

NEW YORK, Ang. 28 — The governing committee of the New

30 |

| York Stock Exchange failed to | reach a decision on proposed new and higher commission rates and has referred the matter for study to the committee on quotations and commissions, it was learned today. The governing committee dis cussed changes for almost two hours yesterday. Informed quarters had not expected a decision because of numerous last minute suggestions and criticisms, although strenuous efforts were put forth to iron out differences so that the committee might come to a decision at the meeting as originally scheduled. The report of the special committee headed by E. A. Pierce, as amended by the law committee and | approved by the committee on the |

commissions which was requested to report on the matter Sept. 8.

EXCHANGE LISTS NEW W SECURITIES

NEW YORK, Aug, : Aug. 26. mittee on stock list of the New York Stock Exchange announced today that it has authorized the listing of the following securities:

additional shares of common stock. International Paper & Power Co. 020,762 shares of cumulative convertible 5 per cent proferred stock, and 5499358 shares of common stock, Monsanto Chemical Co., 50,000 shares of cumulative preferred stock, series “A” The Cincinnati Gas & Electric Co., $10,000,000 first mortgage bonds, 31% per cent series, due 1967. Canada Dry Ginger Ale, Inc., 102,526 additional shares of capital stock. Allis-Chalmers Manufacturing Co., $25,321,500 of 15-year 4 per cent convertible sinking fund debentures, due Sept. 1, 1952, and 337620 ad-| ditional shares of common stock. BANK STOCKS Bankers Trust Bank of Manhattan Central Hanover .. . Chase National Chemical Bank & Trust Continental Commercial Corn Exchange NE 621% Empir First "National EEE AR EEE

Guaranty Trust ....... Irving Tru

National City Dam Public National

Contin ' Fidelity "Phoenix v Firemans .... :

Homé .........v.s Home Fire Sec . National Fire .. orth Liberty .. 8% evere Fire ..... na 270%

Remove Uncertainty

THURSDAY, AUG. 26, 1937

WHEAT FUTURES « CLIMB HIGHER; CORN FOLLOWS

Foreign News Dominates Trend of Market in Chicago.

By United Press CHICAGO, Aug. 26.~Wheat fue tures held firm in midsession on the Chicago Board of Trade today, At the end of the first hour wheat was 1% to 1% cents higher, corn was unchanged to 1% cents higher, and oats were '% to % cent higher, September wheat climbed frace tionally during the midsession as other futures neld all of the opefi= ing gains in a good volume of buy« ing. The foreign news continued po dominate trade attention as thefe was some speculation on the reswit of the day's developments in Chi Wheat receipts were 142 cars, September corn climbed to $1 | a bushel in early trading but a re action cul the price below $1, but still above the previous close, Lg mand diminished on the bulge and May futures dropped to yesterday's ° close. There was some commissian house selling. Corn receipts wale 18 cars. » .

WAGON WHEAT

City gralh elevators are pay ing flor 2 rea, vbe, other grades on their merits. Cash corn, new No, 4 yeliow, Bde, «nls, Zoe, Hay=No, 1 winoiny, slow lid.ov

WINNIPEG WHEAT Upe ) October PERE $1 a Chants December .. 1.197 se May ..... 131m +1%e

ARGENTINE GRAIN BUENOS AiRES, Aug. 2% tures opened firm. Wheat-=8ept,, “ac, Ov, $1L.16%, up ge. Corn Beapt,, Bd ‘ne, unchanged, Nov, 84%, a Oats--8Bpot, 26'%0, unchanged. Flax “ey 81.33%, unchanged, Nov. 81.42%, . changed,

Gi ain fir=

LIVERPOOL WHEAT

High Low $1.20 81.24% 128% 1.24% 1.32% 1 41° »

October December March 1 dah

CHICAGO PRODUCE

Eggs « Mark CASY. receipts, cases; fresh et firsts, Yo, firsts, 22¢; current receipts, HR 18¢; checks, 17¢ Butter—Market, steady; tubs, extra firsts (00-pl'% 82%c; extras (D2 score), 3c: firsts 2 @31'2¢, seconds, 26@ 20¢; standards ae) specials, 33'.@34¢c; cent. (80 score), 31a; cent, (88 score), 30%¢ % Poultry Market, easier: reciepis 1 © Ar » IrUcCKs, geese, Tige; hens, 10. @ 22¢; leghorn hens 191g Ni chickens, 206 25'2¢; brotlers 24c; roosters, 13',m 14%e; fryers 11 25'z¢; turkeys, 15617 Cheese Twins, 17% @17'4¢; 17% deman Wh $1 Jin

airtivs,

12.496

3 4)

receipe, Beore

186 17¢ aueK

{ dnisies, @18¢; longhorns, 17% 18¢c Potatoes—Bupplies, moderate glow; market, weak California Rose, $2; Colorado Bliss Triumphs Idaho Bliss Triumphs, $1 284180; Russet Burbanks, $2@210, U. 8 0 hy $1.35611,45; Nebraska Cobblers, 8125: New Jersey Cobblers, $1.50; North nkot a ol Triumphs, $1.20 Cobblers Minnesoia E hios, #1 Wag hn + ” White Rose, Wisconrin Cobblegs, $1.20, Arrivals, on track, 181, shi ments 2m. 1

» 5 2

62,

LOCAL PRODUCE

(The prices quoted are pald for stock gathered in the country, while for

higher. Each full case of eggs must wel 55 pounds gross.) Eggs=-No. 1 strictly fresh, loss off ihe doa, Heavy breed hens, b Ibs. and over, 1749; horn _hens, 13¢c; heavy breed broile 1 stofk, 2 Ibs. and over, 20c; ,~ghodn droll, 1037 stock, 2 Ibs. and over, 189; bareback broflers, 1087 stock, 2 ibs over, 14c¢; old roosters, 9; feathered and fat, 5 Ibs. ' oe. full-feathered and fat, 0 to Butter-No. 1. 5c: No. 3, 3e. Buttertdh No. 1, 31e; No, 2, 20

U.S. STATEMENT

WASHINGTON, Aug. 28 —Covernmespht expenses and receipts for the current figs year through Aug. 24, compared with A Year ago

This Year Last RXpennes $1,130 569 o> 00 § B83.

Receipts Hie 1 1.0 813

United-Carr Fastener Corp, 3452 |

constitution then was referred to | Customs Tod the committee on quotations and |Inactive Gold. $042,026.09

o_o: «The Om | ye Tdaho Whites lo

eficit 8 ash bal 2 R30. 2). 048 01 ork bal 1.017.01532507 1.53002 ub Debt 386,068 560 208 56x 33 an4 #08 486 old Res 12,540 853.223. 80 10.601, p18 G28 3 0 096 i] 38 58.006 783 68 s Purch Total Pure hh 1,300.411,087.88

(x) New high

FOOD PRICES

CHICAGO, Aug. 20--Bweel Polatoey w= | ainepate, bu. baskets 81.1541. 25 Care nois, bus, 16 2c. Tomatoes Michie 17 Hy baskets, jhe te Caulifoveres crates, i! 10a 28. Peas Col mper 1.80, Celery~Mie Vobe 50¢. Onions 50 0c. Michigan Wisconsin, india

RO orate. >, Rb ows, Towa,

T6@ "0c, yellows, %

10e

a ————

EXPORT COPPER

PRICES SOFTEN

’ By United Prean - : NEW YORK, Aug. 26-The un dertone of the export copper ket softened further today in line with a recession in prices on the London metal exchange. Although the early sales of export were reported at 14.125 cents & pound against yesterday's late range of 14 to 14.10 cents, indications wens that later sales would be put through around the London Met#l Exchange bar wire equivalent which dropped to 14.01 cents, Demand was reported quiet, with * consumers withholding commit ments pending further develope ments in the price. The domestic market was quis and unchanged at 14 cents a pom delivered. k.

DENIES i CLOSING PETITION” By United Press NEW YORK, Aug. 26.-The Gove erning Committee of the New York Stock Exchange has denied the pes tition of members to close the exw change Saturday, Sept. 4, preceding

Labor Day, it was announced today, sisi

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