Indianapolis Times, Indianapolis, Marion County, 28 August 1937 — Page 12

)

SATURDAY, AUG. 28 1937

et hata arm at oo a tt i

STOCKS STEADY, | BONDS IRREGULAR

IN QUIET

Oriental Situation Holds Trading Light.

NEW YORK, Aug. 28 (U. P.) .—Lightening of selling pressure and moderate buying in some issues gave the | stock market a steadier tone] in the short session today. | Bonds were irregular trading today. U. S. Government

issues were irregular. Curb stocks were irregularly high-! er. Trading continued light because of absence of many traders for the

in dull!

SESSION

=”

MARKETS AT A GLANCE

Stocks irregularly higher in dull trading.

Bonds irregular and dull; U. S. Government issues irregular.

Curb stocks irregularly higher. Chicago stocks irregularly higher. Foreign exchange lower. Cotton declined to further new 4-year lows. Gains lower in Chicago; wheat off 13% to 134 cents a bushel,

Silver at a new low at London at 19 3-16 pence a fine ounce.

® 8

3% COSTS’ RISE

THE INDIANAPOLIS TIMES

A §

AN ANI CI WO TREE,

PAGE 11"

NEW YORK STOCKS

By United Press

Adams Exp AvicS rao Reduc

Roll Mn “ melt Sel 7 pt. Stl Fdie

| Anaconda ...... { Anchor Cap .... Armour Ili : Armstrong Ck . Artloom Asso Dry Goods | Atchison

Net Close Chant 3 a Ta

+444 HSE

FELL +4 4441): oe FEES EE

DIINO TT U1 rs BD +1:

—

a tT TDD BD ie et a OO

«IRI

—— oy NNR

DDSI

Noa

15 MOST ACTIVE STOCKS

Net Close Change 1g = 15 381 =—1 108% is 54% ds 5334 ® 353% I R15 97% 521g 20's 13% 20

High Low . 113% 11's 3314 108's 541% 331% 357% 2MNs 97% 515% 20's 137% 20 463% 46% 14% 14'2 107% 108

approximated

Radio Corp Rep Steel U S Steel 109 Anaconda Cop . 553% Gen Motors . 51% 36 Nie . 107% un 1p 1s la

Pathe Film .... Gen Elec 5234 Socony Vacuum 203s Warner Bros .. 14% Elec P&L oe 203% | ont North pf .. 43'4 | Cons Oil Chrysler

| | : | —ts 1s

254.-

1087s

Transactions

500 shares last Saturday. Curb transactions approximated 64,865 shares compared with 64,900 shares last Saturday.

Net H Close Change Minn-Moline ... 12% .... Tex - UW - Tn - 21, 1

“

Nash-Kelv

® | Nat Acme

Nat Aviation Nat Biscuit ... 2} { Nat Cash Reg . 3! | Nat Dairy 2

300 shares today compared with 280,- |

| Radio

Net Hl h Low Close Chan e g 34 34 4 84% Ve 64% . , A 35% & 4% NH oo H pt 13h 12% NYOnt&W.. 2 Nor, = South . 3 No . 25 . 10% 28%

ev i Ing . ir Brk .. N Y NG ral NY NH NY,

2 fos No Pacific. 27% Ohio Cr ven ver Farm E Omnibus a Oppen Coll .... Otis Elev Otis Steel Owens Ill Glass

18's HH

isis 987

Pac G & EI Pac West oll Packard .....

Patino Mines . eerless Fun enney 93 Penn Coal & C. Penn D Cem Denn Gl Sand c Penn RR : Pet Rog Am’ Pleiffer-Brew

Port Ric-Am A. Postal Tel pf. . Proctor & G

“3

{Radio pf N .... Radio-K-Or

PORKER PRICES REMAIN STEADY IN LOCAL YARDS

Hog Top on Choice 210 to 225-Pound Weights Holds At $11.75.

Hog prices held steady for the second consecutive day, a run of around 1000 head being equal to trade requirements, according to the Bureau of Agricultural Economics,

U. S. Department of Agriculture. Sows were unchanged to bulk $10 to $10.50. Hog top was $11.75 on choice 210 to 225-pond weights. Current values were 60 to 90 cents lower than a week ago. Sows were 50 to 75 cents lower for the week. There was no quotable trade in cattle. Compared with last week strictly grain-fed steers, yearlings and heifers are strong to 25 cents higher. Bulls and vealers closed the weck on an unchanged level. Stockers and feeders cleared at steady rates, good to choice feeders going late at $9.40. Trading in sheep and lambs was

New York Bonds

By United P’ress

BOND PRICE INDEXES

20 Inds. 21.3% na 91.9 . NA 1.5 88.7 25.0 90.8 LIN

20 Rails 89.8 89.8 90.4 92.8 96.1 9.3 101.2 89.8 100.4 84.7 86.4 Lo

Yesterday Week ago Month ago .. Year ago Two years ago. 1937 high 1937 low 1936 high 1936 low 90.0 1935 high ...... 91.4 1935 low ....... 83.6

20 Util. 100.4 100.5 101.0 101.8 105.7 100.3 106.0 99.3 106.2 103.5 103.6 89.3

60 Bonds 94.0 21.0 94.4 05.3 9299.7 89.4 100.% 93.4 100.2 03.3 93.1 83.0

10 MOST ACTIVE BONDS Net Month Year

Close Change CMStP &P "8 + % Rep St 4'ss 50 119 —41y Gt N 4s 4.6 119% % Postal T & C 53 18'% 5 Cent Pac 4s 19 107% a Penn RR 3%s 53 104 NYC 4ws .... 87% PP &L 4%s 81 101% Un Pac 3%s 70 95 N XY C 3%s 32105% 4 %

“ + + % +

Ago

A 133% 124% 20% 109%, 106

102

1067%

Ago Th 11534 11844 314 109, 106 91% 106%

WHEAT FUTURES DROP 2 GENTS; CORN FOLLOWS

Foreign Weakness Reacts Sharply on Grain Pit In Chicago.

CHICAGO, Aug. 28 (U. P).— Easiness pervaded the wheat market on the Chicago Board of Trade today where selling was ine fluenced by the weakness in Liver= pool, reports of rain in dry areas of the Argentine and the week-end forecast for wet weather in Northe

fern and Central districts of the country, At the close wheat was 2% cents lower, $1.04 to $1.04; corn was “a

Bond transactions approximated |to 1'4 cents lower, Sept. 944 cents, $2,450,000, compared with $2,999,000 | and oats were unchanged to 2 cent

last Saturday.

U. 8. GOVERNMENT BONDS

Treasury 3%s Uf ias- 40 Ju

2%s 143. 45 3 1948-46 o

Bonds |

lower, Sept. 28% cents. Buying power was feeble and prices declined after a lower open= | ing. Shorts absorbed the offerings | when Dec. hit $1.07! but the down= trend was only momentarily | checked.

| The market was easier at Winnie

| peg, reflecting the drop at Livere

| pool. Export sales were only moder= ate, Liquidation in Sept. corn cone | tinued, forcing a further decline in

20 301% 117s a 35 3: ; Tots ry or | a

92" a1 "3 | Rs

| Nat Distillers .. * | Nat Gypsum | Nat Lead Nat Pwr & Lt t Rys

Atl C Lin 46 | Atl Guia WI pf 22° Atl Refining . 7 Atlas Corp Atlas Tack Auburn Aute

| Ry Sec Ill | Reliance Mfg Co em-Rann em- Rang piww

; | week-end. Market operators FACES CARRIERS tinued reticent about accumulating |

constocks at this time because of un- | certainties over the Far-Eastern sit- | uation.

on a nominal basis today. Compared with last week's close, good 10 | choice lambs were 25 to 50 cents! low er, while other grades slumpad 50 |

w -

TIS IT DD

CIPI CD

tt BG 13 wT

| Repubie. Stl New

Radio Corp. Republic Steel, Pathe Film and U. S. Steel were the most active issues in that order. Steel firmed fractionally, Republic eased and Radio was unchanged. Pathe eased a trifle. Copper shares rallied despite further recession in the price of copper metal. Kennecott and Anaconda g a i n e d fractionally. Silvers firmed slightly. New York Central led a recovery in the rails with a one-point gain. Smaller advances were noted in Atchison, Chesapeake & Ohio, Pennsylvania, Southern Pacific and Northern Pacific.

DOW-JONES STOCK AVERAGES 30 INDUSTRIAL

Yesterday { Week Age | Month ago 0 Fi | Year ago ein High 193%, | High 1936, Today

low, 165.51. 143.11,

194.40:

184.90; low,

. 49.40 52.10 0.2 52.95

Yesterday Week aro Month age Year High 1937, High 1936, Today

Tow, 50.17. low, 40.66. . 49.48

64.16; 59.89:

27.23 7.83 30.09 0.13 34.70 0.08 |

Yesterday Week ago Month argo Year ago High 193%

Rich 1936. 36.08;

10.04 —0.90 +0.29 40.10 +0.30

Yesterday Week age Month age Year ago ve Hich 193%. 69.6%: High 1936, 66.38; n

Week's Business At a Glance

ADVERTISING—Advertising Age; week ended Aug. 14 retail advertising in newspapers of 79 major cities 17,289,948 lines vs. 17,051,280 year ago; year to date 637,618,380 vs. 605,493,264 year ago. AUTOMOBILES—R. L. Polk Co. estimates July auto sales 365,000 units vs. 360,236 in June and 357,490 year ago; Ward's Automotive Reports—Production this week 83,310 units vs. 93,339 last week, and 59,237 year ago. BANKING—Dun & Bradstreet: Week ended Aug. 25 bank clearings $4,759,835,000 vs. $5,322,241,000 previous week and $4,524,896,000 year ago. Federal Reserve: Gold stock up $14,000,000 to $12,541,000,000; circulation off $5,000,0000; excess veserves off $20,000,000 to $760,000,000; brokers and dealers loans up $4,000,000; ratio 79.7 per cent vs. 79.7 previous week and 79.3 year ago. COAL—National Coal Assn.: Week Aug. 21 bituminous output 7.550.000 tons vs. 7,671,000 year ago and 6,320, | 000 two years ago. CONSTRUCTION — Engineering | News-Record: Awards this $37.338.000 vs. $43.341,000 preceding | week and $47,710,000 year ago. ELECTRICITY — Edison Electric Institute: Week ended Aug. 21. output 2,304,032.000 kwh, record high, vs. 2.300,547,000 previous week and 2,093,928,000 year ago. FAILURES—Dun & Bradstreet: Week ended Aug. 19, 159, highest since June 17, vs. 153 previous week | and 135 year ago. INDEXES—Dun & Bradstreet: Week ended Aug. 25 business activity 98 per cent of estimated normal vs. 98.6 previous week and 91 year ago; food index week ended Aug. 19 $2.87 vs. $2.90 previous week and $2.82 year ago. Moody's, week ended Aug. 21 business activity 110.8 per cent of 1928 average vs. 10.4 previous week and 99.5 year ago. LUMBER—National Lumber Manufacturers’ Assn.: Week Aug. 14 production by 539 mills 278,191,000 feet vs. 281,202,000 for 558 mills preceding week; shipments 241,891,000 vs. 234,359,000; booked orders 221,807,000 vs. 228,865,000. OIL—American Petroleum Institute: Week ended Aug. 21 crude output 38,729,350 bbls. daily, record high, vs. 3,718,000 previous week; gasoline stocks off to 67,260,00 bbls. vs. 69,087,000 previous week. RAILROADS — Association of American Railroads: Week Aug. 21 carloadings 781,247 vs. 777,382 previous week and 735,476 year ago. STEEL—American Iron & Steel Institute: Week's steel operating schedule 83.8 per cent of capacity vs. 83.2 last week and 72.5 year ago. United Press Estimate: Steel ingot output this week 1,092,000 tons vs. 1.112,000 last week and 959,000 year ago. TRADE—Dun & Bradstreet: Retail trade this week less than 2 per cent over last week and 5 to 15 per cent over year ago; wholesale 8 to 14 per cent over year ago. CORPORATION REPORTS — American Power & Light Co. 12 months ended July 31 net income $11,435,520 vs. $9,599,192; Commonwealth & Southern Corp. 12 months ended July 31 net income $15,660,911 vs. $10,960,990, National Dairy Products Corp. 12 months ended June 30 net profit $12433,473 vs. $15,526,670; Pet Milk Co. first half net profit $219,006 vs. $485,740; Plymouth Oil

‘Due if Big Five Gets Same

L000 [ however, ago 55.10 + 0.01 | Will severely restrict earnings gains.” |

and | $214, 000,000 last year will not be af+0.03 fected by the increase.

| Citz Ind Tel

| Spith week | Sth

€Co., consolidated, first half net in-

Pay Boost as Granted to Nonoperating Unions.

If the same percentage wage increase granted by the railroads to! nonoperating groups is given to the five operating unions, the industry's annual labor bill will raise total

Aviation Corp

operating expenses by about 5 per | cent, the Standard Statistics Co. |

estimated. Other factors being equal, the company added, a traffic expansion

(of at least 8 per cent would be

[needed to offset such a boost in wages. “The efficiency of labor,” the survey said, “is constantly being raised [by introduction of more efficient

* equipment, and over a period of . | time, further such economies should | “ag | Offset the wage rise.

Immediately, the concession to lapor

In the event of the indicated wage

| settlement, the total wage increase +008 would be in the neighborhood of

| $145,000.000 a year, or slightly more

—0.22 | than 7.5 per cent of total railroad +0.18 | payrolls.

Allowance is made in the | | calculations for the fact that wages salaries which amounted to

“Nevertheless,” it was pointed out, “wage costs in 1937 may well be lifted by as much as $65,000,000 if | the prospective increase for operating unions is made retroactive to August 1.”

1 NEY N LOCAL ISSUES (By Indianapolis Bond & Share Corp.) The following quotations do not repre- | sent actual bids or offerings but merely | indicate the approximate market level based on buying and selling inquiries or recent transactions. BONDS

(TH) 4'ss 61 . H Tel & Tel Ft W 5las 55... H Tel & Tcl Ft W bs 43 H Tel & Tel Ft W Ts

Budd Wheel Bullard ow 31 F>wer R B 2 .. Bulova W ..... Butler Bros Butte Cop ‘eh Byers. AM ....

Callahan Zinc .

Carriers elanese " Cent Foundrv . Cent RR NJ . Cerro de Pasco Certain-teed .. Champ Paper Ches & Ohio Chi E Ill Chi Mal Srder. ShMSp h & Nv R Ry ni Pneu T Chi Ph “Toolevpt Chi RI & P

BR Be t

Std aati Saeir «

eve

Cont Ins Cont Mot Cons Aircraft . Cont Oil Del ... Cont Steel . San Prod .

Crane Co Crane Co cu 116 2 Crown Cork ... Crown Zeller Crown Zeller br. Crucible St

Ind Assoc Tel 4'2s 65 ...

Indpls Water Co 3'zs 66 “ Interstate Tel & Tel 5'zs 53 Kokomo Water Works 5s 58 Morris 5&10 Stores 5s 50 . .100 Muncie Water Works 5s 65 ... Noblesville H L & P 62s 47 Ohio Tel Serv 6s 47 Public Tel Co 4's 55 Richmond W W 5s 57 Seymour Water Co 5s 49 Trac & L 5s 44 T H Water Works 5s 56. T H Water Works 6s 49 Trac Term Co 5s 57

Belt R R St Yds com Belt R R St Yds pfd Cent Ind Power pfd 7s Home Tel & Tel rt W 5 “avs Hook Drug Inc com... Ind & Mich Elec Ts Ind Gen Serv Co Ind Hydro Elec Co Indpls Gas Co com 2 Indpls Fwr & Lt pfd 6s ..... ! Indpls Pwr & Lt pfd 6's... Indpls Water Co pfd 5s Lincoln Natl Lite Ins Co com P R Mallory com . N Ind Pub Serv Co pfd 5'4s . N Ind Pub Serv Co pfd 6s .. N Ind Pub Serv Co pfd Ts *Progress Laundry Co com 66

Pub Serv of Inc pfd 6s

Pub Serv of Ind nfd 7s P & V pfd PPE V com. .... *Terre Haute Hes Ma 6s nUion Title Co Van Camp Milk Co pid Van Camp Milk Co con

*(By M. P. Christ & Co.) Market St. Inv St. Investing Corp. 33.31

INVES VESTING G COS (By the N. Y. Security Dealers Assn.) Adm Fds 12.85 18.19 Ky CFKI 22.83 24.04 Affi 9.40 1033 ’ CFK2 18.73 20.50

1.24 21.43 8.12

36.44 22.37 19. 0

Mas Iv T 27. 33 Mu Iv Pd 15.75 Xy CFS4 11.26

N. ¥, Stocks. Ine. IX Stks 11.14 Big Sp 11.07

Crm Fos 28. 00 Cum Tr 6.13 Fise. Fds. Ine. Elec Eq 12.09 Bk Stk 3.41 Jel Ins... 1053 3.76 .0¢ M 12.79 2.35 RR Eqt 12.51 4.50 Steel 7.05 Div Shrs Fidelity. 27.06 1st Bos 24.75 Fix Tr A 12.62 B. 10.42 Found 4.70 Fd Iv Ic 23.17 rd Tr A 3.03

B 53 Gn Iv Tr e fn % Group Securities Agri . 1.94

5.00/Quar Inc 2446 Rep Tr 6.75 Ren Tnv

49! Sp Trk 12! Std Util . SEIS Cp 3 :- 38

"a 11Super AA 26% BB 2.63 5 ‘Sup New 3 72 19] Trs Ind 1.45 2.99 Hu Co 05] 2.94 Inc Invs 24.313 | > Off 7.72 Ky CFS2 2407 27%! " Oil B 17.34 Ins Shrs 1. x 1. Cl pl 16.37 Inv Fd C 14.87 15.78 97 well ‘Fa 18.00

BREAN NO Aa Sa S Q

Dk pt kk 1 1) ot 1D

16.87 1.0 19.74

come $1,362996 vs. $818,155; Revere Copper & Brass, Inc, consolidated, first half net profit $2,122,838 vs. $733,430; Sears Roebuck & Co. 24 weeks ended July 16 net profit $15.190.441 vs. $12.634 285. DIVIDENDS—Briges & Stratton Corp., quarterly $1.25 vs. 75 cents previously; A. M. Byers, $2.50 on preferred vs. 50 cents previous pavment Nov. 1. 1933; Consolidated Biscuit Co., omitted 15 cents quarterly on common: Cuban American Sugar $8 on preferred accumulations: Liquid Carbonic Corp., 40 cents on new common after 2 for 1 split-up vs. 65 cents on old stock; Midvale Co., $1.50 vs. $1.25 previously; Petroleum Corp. of America, 50 cents vs. 40 cents previously; South Porto Rico Sugar Co., extra $1.05 on common and quarterly of 50 cents. (Copyright, 1937, by United Press)

Cudahy Curtis Pub i Curt Pub pf ... | Curtiss-Wr ...

. | Curtiss-Wr A . : | Cutler-Ham ..

| Davega Strs Deere & Co .. Del & Hud .... 33 D Lac & W .. Dev * RA.... Dist Seag Dist Seag pf ww Dixie-Vortex Don» Mines Dresser B Dunhill Du Pont

Eaton Mig ... Eitingon Sch Elec Outo-L Elec Boat

— . A el LY (3 = NOONAN

Wa BI OOO rt Yt 1D

N= on 00 w

Gen o | Gillett S R

2 | Gimble Bros

Glidden Goodrich Goodvear “i Gotham Hos .. Graham-Paige Granby Grand Union | Grant es Gt North of ... Gt Nor Ore . Gt West Sug. Greyhound Cp

Hecker Prod ... Hinde & Dau Holland Furn Homestake Houd-Her B Houston Oil Howe Sound Hud & Man . Hud & Man pf Hudson Motor Hupp Motor

I11 Central Ingersoll Rand Inspiratn Cop Insshs cts Md . Inter Iron 1978 Int Business M 150 Int Harvester 1103 Int Harv pf 53 : Int Hyd El A 123%

Kelsey-Hayes A 1534 Kennecott 58'2 Kroger G & B 21

Lambert a Leh Val RR ... Lehman .. 40! Lehn 2 Fink .. Libby Mec & L . | Lia Carb .. 252 Loews 0% Lone Br Cem 5 Lon e “un Loose wv Bis ‘ 2534 Lorrilar Vs louG&EA .. i

4 R514

Macy Pak 2

R MenEl

R H Rts an

a fi ‘gtd it

tin Gl " Nasoune corp .

Mayia a Medal Corp ... McCrory . McIntyre Porc . 18% Mcintyre Porc. McKesson&Robb 3 Mead Mengel

DIDO Cl — [a

33 Sh 521;

Curb Stocks

Aero Sup B .... Alum Ltd

at Bond &

CO a - oF

Berkey Gay Brown Co pf .. Can Marconi .. Carrier Corp .. Cities Serv Cities Serv

| Con Cop Mns .. | Sooper Bes .... 1814

ow -~3 UID BILD +t CY et Ba TY et et a CD BD

Cities SveLsmt 45 Col O & G 7 9% 8! Creole Pet ... 34% 2 | Cus Mexic 4 | Det Gry Ir Pdy 2% Eagle Picher L. 19!; | Pisk Rubber ... 1214 { Ford Can A ... 22 Gen T & R 24 Grd Nat Films 2% Gt Nor Paper . 39 Gulf Oil .. 561% Humble Oil . 80%: Imp O Can 21 Lion Oil Ce 24, Lockheed Air 121, McWms Dredge 2114 Mesabi Iron .. 13-16 Mich Pamper .. 2'3 Molybdenum ... 97 Nat Rub M ... 13 Niag HR Pwr ... a

Pleheies

8 | Pan Am Air ..

—

— ADDO ANNE BD pt

gd a

Pantenec sh | Pitts P1 Gl St Regis P_ . Seiberline R Sunray Oil .. Technicolor {Un Lt & Pwr

Chicago . Stocks

| Am Pub Serv pf Armour & Co Autom Prod Berghoff Brew

RI PUWIIL DiI = T= 10 Nr TD =I Er -

FEE ++)I DN aw, e on

CHEE

Borg Warner Bruce ¥ L Butler Bros Cent Ill Sec | Cent & SW Ut pf : Cent & SW Ut pl ol ‘ Chgo Corp : . Cities Service Comwlth Edison

IBD Dt 13 21D

@ Nw aN

| Comp Ind Gas | Consol Bis ..

Cord Corp Cunningham Drug. Gen Finance . Gen Hshld Ut GoldbisH Bros

nl No Util ot . Katz Drug . Kv Util cu pf Manh-Dear

Mig Jt 6 or lien Midl Ut 7 or lien Midl Ut 6 pf A Nat Batierv pf 271% Nor W U. 7 pf 57 Parker Pen 2415 Quaker Oats pf 188, : Raytheon Mfg Nat Bottery of ap NorwUt nor lien 57 Reliance Mfz ... Sivvers Steel Sunstrd Mch T Swift Intl Thomnson (JR) Utah Radio Prod Wahl Co “enh hw, Wisc Bk Shrs Woodall Ind

Zenith Radio ... 414

>» a

F ~~

FINANCE OFFERINGS APPEAR IN MARKET

‘Signs of Reawakening Seen

In Capital Mart.

NEW YORK, Aug. 28 (U.P.).— Signs of reawakening of the capital market appeared this week as the

CORD pot rt mt tk 53 bt TY et 2D ID ek pt pt a aN» Wen COIS emt BD DTD rt CO DEI I 30 rk tt 3

bt C3 aT PID aDWID 3 ~ — x ER BI "8D

wo > ” «a Ld» ‘ a

first major corporation offering ap- { peared on the market in a month and many prospective financing op- | erations were announced. The week's total of financing was $43,513.000 compared with $19,242,- | 416 in the previous week. The total was the best since the last week in July. A year ago financing totaled | $58.062,000. | Offering of an issue of $30,050,000 |of Ohio Public Service Co. bonds

. | and notes comprised the one major

2 | ferred stock. 5'%

| offering. This was augmented today by offering of 16,000 shares of the company’s cumulative first preper cent series, which completed this phase of the financing. The preferred stock was offered by Otis & Co. at $92.50 a share. | Meanwhile numerous projects ‘were nearing the market. Details | of the Allis-Chalmers Manufactur2 ing Co. financing were announced. : | This will give stockholders the right ' to subscribe to an issue of $25,321,- | 500 of 15-year 4 per cent convertible

| sinking fund debentures at the rate

oy |

ESR

HELE LEE 4

of $500 in debentures for each 35 shares held. The $48,000,000 of Bethlehem Steel Corp. debentures also are approaching the market while numerous other bond issues are being prepared.

U. S. STATEMENT

WASHINGTON, Aug. 28 (U. P.).—Government expenses and receipts for the current fiscal year through Aug. 26, compared with a year ago: Last Year

Expenses $1, = San $73. 93 Receipts . 8 0.402. Deficit 1,048.590,954 90 1,485,438,197.39 33.380,831.818.98 Gold Res. 12, 545,093 544. 67 10.694.947.393 88 | Customs 73. 15, 603. Today's Pu Total Pur. Inac. Gold Hy 614. 153. 56 $1,314,547,915.8€ INDIANAPOLIS CLEARING HOUSE

Clcarings

MONEY MARKET

NEW YORK, Aug. 27.—Money rates remained unchanged today. Bankers Acceptances 30 days. '.@ 7-16%: 60 and 90 days. a@n 16%: 120 days. 0-16@ 14 %: 150 and ‘80 days, Ss@ Commercial Pa

re names, Money—

17%. 150 ‘and ony GO ay J30. a . ate at New York, 1%. iw.

60,752.08 44 |

| Reyn Tob B

ul HR

2% | Skelly Oil

be |

| South Pac

| ©

: | Std

| | |T |

{ | | | | | | |

| |

| 20th Cent Fox .

U Rs; U

Repblic Stl pfA 10

atest “ > ©

oSw

St Jos Lead St L S Fran pf Schen»y s Schulte R . Seab’d Ain I pt

Seab’'d s Roebuck Servel Inc . 2 Sharon S cg

rp & Shell on Su . Silver-King pf . mons . .

Skelly pf ww Socony-Vacuum | So Por R Sug . 35% vers S9%% .. 2804 . 3934 63% w 119% . 33

! South Ry | South Ry pf Sparks With Sperry-Corp Spiegel Inc Square- D-B d

Std Std Std Std Std Std Starrett IL terl Prod

Sunshine Min .. Sunerior Oil | Swift & Co | Swift Intl 311, vming Gould . 16% | Smying G xw .. 123% —"-

Tenn Corn 1M Texas Corn 59 Texas Gulf Prod 6% Tor id Pugs 4n ic 0 1%'% Tod Pao s T 10% Third Av Rv 3 Va Thomnson Pr Thomn Star Tide W A Oil . T W A Oil nf Timk D Ax

2314

| Transamerica

Trans West Air Tri Cont Truax Tra

| Und Ell Fish

Union Carb

21, | UIn Qil Cal

Un Tank . Un Aircraft Cp Un Air Lines .. In Biscuit Un Carbon

{ Inited Drug

Un El Coal . Im Eng & Fdy United Fruit In Ges Imn fd 3 Hoffman

U 1

IT S Steel nf Un Stk Yd .. Un Stores A Univ Gvelops Stl 13, Ut PALA Vanadium

Va-Car 6 pf

Wabash Waldorf Sys Walker (H) Walworth Ward Bak B Warner Bros Warn-Quin Warren Br Warren F&™ Waukesha Mot 285; Wayne Pumn .. 451; West Auto Sup. =", West Md . ‘ West Pac pf ... West Union . West Air Bke .. ¢ Westin El 1 Wheel Steel White SS Dent. White M 4

| +:

i):

i 291,

a RAT Ne

CHEER +4

1415 4 LL TRV

. 3%

4 Wilson pf ‘n 78% Woolworth ... 46 Worthington 3%

Yellow Tr Young S Young Sheet

2034 3834 85%

NN & W. 383% . 86 — Zenith Rad ... . 41, 41

BANK STOCKS

(By Atkins, Hamill & Gates)

Bankers Trust Bank of Manhattan Central Hanover . 231, 1 8 Chase National Y Chemical Bank & Tras . Continental ‘ Commercial “ Corn Exchange . Empire . First National .. Guaranty Trust Irving Trust . Manufacturers Trust

rus Public National

Fire Insurance Aetna Fire ‘ Home Ins, Home Sec National Jiverty Nor River West Chester

[LOCAL PRODUCE

(The prices quoted are pald tor stock gathered in the country, while for deliv. eries in Indianapolis the prices are 1 cent higher. Each full case of eggs must weigh 55 pounds gross.) Eggs—No. 1 strictly fresh. doz.

loss Off. 18¢

5 Ibs. and over, 17'2¢; Leghorn hens, 13c: heavy breed broilers. 1937 stock, 2 Ibs. and over 19¢: Leghorn broilers, 1937 stock, 2Ibs. and over, 17¢c; bareback broilers. 1937 stock. 2 bs and | over, 14c. old roosters, 9c: ducks full. | feathered and fat, 5 Ibs. and over, bc: geese, full- feathered and fat 9 to 14 1bs., 4c

Heavy breed hens,

Butter—No. 1, 361,@3%¢: No Butterfat, No. 1. 31¢c; No. 2.

Store Sales Up

TREND OF DEPARTMENT STORE SALES

IAA. wou

2, 34'2@35¢. ; 29¢.

—

FEDERAL RESERYE BOARD INDEX

THE PARKER Cone, GENERAL DISTRIBUTORS INCORPORATED INVESTORS

| A (1350-1500)

| Bulls,

| Good

{ Good and choice ..

HOGS

Top, Receipts | 100

ow — LL

SD x [tated ad Lo] aVany wn

A 3 Dow D

2. 2. 2. 1. 1. i. | B

APIO a GOIN

1 1 1 1 1 1 1

| Sad 5350 a = D A tt Fs ph pt pt

oe dt 1 3393

ADL

a et

7 pt tt pt et ps w

Light Lig 300d and

140-160) edium Lightweights— (160-180) Good and Medium (180-200) Good and Medium Medium Weights— (200-220) Good (220-250) Good Heavyweights (250-290) Good (290-350) Good Packing Sows— 1275-350) Good (350-425) Good (325-13) Good 75-550) Medium

LLL Pi Good a and choice .

«» —

2Q] ~~ S~3~ ©3

choice .

0D a3

choice. .

a 999 @d

choice .

a -

choice . choice .

and and

PDS OPOS

choice choice .

. 10.35@ 10.50 .. [email protected] . 10.00@10 25 9.256110.35

[email protected] 8.75@ 10.00

pap ~I1 AA DWaAD

on oo 3

(100-140)

ol 25— (550-900) Choic [email protected] G 11.006014.25

N [email protected] (000-1100)

Common (plain) 5 7.00 900

(1100-1300) Prime

16.50601%.50 [email protected] [email protected] Heifers Choice Sood “iv Common ' Good and choice . Common, medium

(550-750)

(750-900)

Common, medium Low cutter and cutter good rar uuue Cutter. common

adn “IID II0I83 SSR

theef) . Cutter, common and medium . Vealers —Receipts 25—

ox oo

Medium Cull and medium . Calves

1250-5000 Good and choice . Common. medium Feeder and Stocker Cattle Steers

7.50@

(500-800) Good and choice ommon medium (800-1050) Good and choice Common, medium Heifers— Good and choice Common and medium

| Cows—

Good Common and medium

SHEEP AND LAMBS —Receipts 25— SpLIng Lams Cho

By United 'ress

CHICAGO, i (u .).—Hogs—Receipts, 5000, inc ides 5500 ‘directs, Market nominally steady at $12.10 for top

hogs. attle—Receipts, 500; calves, 100, Market, steady. edium weight and weighty slaughter steers, grassy and fed kinds, 2% to 40 cents higher: common light killers, stockers and feeders, slow, steady to 25 cents lower; heifers, 25 cents higher: bulls, steady; vealers, 25 to 50 cents higher: extreme steer top. 53, > light steers, $18.15; long yearlings, $17 Sheep—Receipts, 3000; market, steady. Spring lambs mostly steady: vearlings little changed: sheep, 25 to 50 cents lower: fest native springerds, $10.90 at close. X [email protected]; choice yearlings, $9.25 at close: Slaughter _ewes, [email protected]; feeding

[email protected] 9.75 10.25 8.00@ 9.75 7.00@ 8.00

3.00@ 3.75 1.75@ 300

0.80

ug.28. Hogs—Market | $11.40@11 60: 325-250 | i 250-275 bs... $11.35 bs.. $114 11.30: 170-225 Ibs., $11.20611. 80: 150-170 Ibs. $10@ 11: 130-150 Ibs., [email protected]: Ibs. $8 75% 9.25. Roughs, $10

down Calv.s, $9.50@10. Lambs, $9@9. -50

NEW YORK, Aug. 28. exchange irregularly lower: Cable Rates England 4 ound) 4.96% England (69-d bill rate) 4.96 Canada (dollar) won e aS) France (franc) 0374 Italy (lire) 0526 Belgium (belga) faadrs Germany (mark) 4021 Germany (travel mark) .2700 Switzerland (franc) 22052 Holland (guilder) 55132 Unquoted 25611,

Net Change 005% —.00%

~.0000%

Spain

Norway Denmark (krone) Australia (pound) Austria (shilling) .1888 Czechoslov'kia ‘koruna) 03494 Finland (markk 02211; Greece (avachima) 0092 Jugoslavia (dinar) % New Zealand Pound) . Poland (zloty) Portugal (escudo) Rumania (leu) Argentina (offl, Argentina (unoffl, Brazil (offl. Brazil Chile (peso) Peru (sol) ii Uruguay (peso) Mexico (silver peso) Hongkong (dollar) Shanghai (yuan) India (rupee) Japan (yen)

NEW BOND ISSUES

L. LYONS & co)

0233 4.001% 8

milreis)

(By Au City, 3% Wee 3 & O 4%s '39 . 981 B F. Avery Sons 5s '47 108 Calif. Oro Prw 4s '66 3 9334 Cent Maine Pwr 4s '60 1033, Cent Maint Pwr 3%2% '66 96 Cinti G & E 3% 105% CMO_3%s ’42 100% Fin Power 4s '66 .. 88% Fla Power 5s '66 96'a 66; Houston Lt & Power, 3ss ‘66 1027 / Indols Water 31s we. - 100 Los Angeles Rev han mn Narra Elec 315s '66 N Y City be Mm ves N Y State Elec Gas 4s '65 . Northern State P 3's '67. . Pac Lichting 4'4s '45 04 Scott Paper Co 3's '52 Union Elec 3%s '62 . Union Elec 3s ‘42 West Chester 328 0 Wisc C & E 3'ss Wise Pub Sve 4s A

BOSTON, Aug. 28.—Most remarkable is the fact that sales by our department stores have kept almost exact pace with the past 10-year trend line. Sales in July were up about 3 per cent

from a year ago.

SAFE DEPOSIT BOXES

* The *

Indiana National Bank of Indianapolis

N e

| 3% i | 34s daa ss

| 3008, 1944-42 0 | 38 1052-44

102.20 101.12

Js 1049-44 101.25

101.25

Home Owners Loan Bonds

| 2%s 1949-39 .. 100 4 99.23

101.27 Certificates

4 March 134 1942 . 100.3

101.27

Land Bank Bonds

Bid July 1955-45 .. 1004 . 1956-46 |. 1001 ‘ 1004 102 100 7% .. 100, .. 102g

M : 44s Nov. 1656. 38 103%%

02? 100 9-16 ino 13- 16 104

DOMESTIC BONDS

Alleg Corp 5s 44 Am&For P 5s 2030 ATT deb 5'zs 43 Anaconda C 4's 50 Arm Co Del 4s 55 . At TSF cv 4's 48 At TSF gen 4s 95 Atl Coast

Bu R&P con 4'.s 57

i SoRwy

| |

| | | |

£1

. 10.50612.00 | 9.50% 10.50 Be 9.50 |

| SouRy

Texas Cor

| Argent | Brazil

Con Na Ry 5s Oct 69 Can Pac deb 4s porp . Cen Pac 5s 60 Ches & Oh 3's 96 CH & O 3's 96s Chic Alt ref 3s 49 Chi Pur Qu 5s . SMS IP&P 53 2000 .... ChiN 3: 9

chiwing cn 4s 52

Cons Bis 31s 46 .... 10

[email protected] | De 6.00 8.50 |

Erie ref 5s Erie ref 5s 6 Flor E Coa 5s Goody T & Gt Nor 4s G 48 Gt Nor 4s H 46 Hous Oil 52s 40 .... II1 Bell Tel 3's 70... Ill Cen 4%;s 66 .

| ICCSLNO 5s A 63

1st 6s A Int T&T 5s 55 "een Int T&T cv 458 39.... Jns & Lgh 4%s 61 Kresge Fou 4s 45 ..... Loews Inc 3'2s 46 ... Lou Ark Ry 5s 69 ...... Lou & N 3%s 303 McCrory 8S 55 5 . MSPSSMcn 4s Bast MoK&T 1st 4s 90 Mo Pac cv 412s 49 Mo Pacific 5s I 81 . Mo Pacific 5s F717

YNH& No Pac 6s B 2047 Ohio Edisn 4s 65 Pac Gas&El 45 64 Par Pict 6s Rd

Penn RR 4'%s 84 Port G E 4'258 60 ...... Postal T&C 5s 53 .... Reading 4's A 97 106 Rem Randw 4's 56 Rep Stl C 4,5 50 Seab Ail Line 6s 45 Shell Un O 3':s 51 Soc Vac 3'5s8 50 So Pacific 45s 81 9MmRwy 6'5s 56 6s A 56 . en 4s 56 .“ Stan Oil N J 3s 61 Studb 6s 45 51 “an

"B11 4s 47

Tex&Pac UnPac 1st

| UnitedDrug 5s 33 .....

FOREIGN EXC HANG KE

Closing foreign |

US Rubber 5s 47 Vanadium 5s 41 .. VaRy Co 33s 668 .. Warner Bro As 39 WMary 5'es 77 West Union 5s 60 WheelStl 4':8 65 “ Young S&T 4s 61 . 10314

FOREIGN BONDS

415 6's Canada 5s Canada 3'4s 61 Japan 6l5s 54 Japan 5'2s 65 Peru 6s § 80

@ aam

bd ARNT ARLITIDDWD = NPLWW DS WL -_NN A

DJ LID ODDO ODIO WDOODD Fa

WDD

5 | futures.

| prices. lows for the season | were established by the new crop Spreaders sold Dec. and | Purchased May.

Grain Market

‘Gains in Week

| | CHICAGO. Aug. 28.—(U. P.)—

{ | Moderate price improvement occure

red in wheat on the Chicago Board |of Trade late this week, on drought

| news from the Argentine, war news

: | flour demand.

(from China and better domestic At the close Friday, September { wheat on the Board of Trade was | $1.06%, up 1's cents. Spring wheat receipts

are now

2.91 | about at a peak and the primary i {run is still heavy compared to a

8 |

; | has had showers,

tt riaperiyiy g

— [pp DOH“ VODODIDDVIMDVOOD Lo an

NID AWRIDWANe GAD W DODD WWEID a td-Tn =P a» a

bk kt ft DOD Dre DB > pir

: | mal,

3 [lard lower. |

| year ago, although winter wheat arrivals have dropped to almost nor=While a little export business lis being done, the volume is small | compared with expectations. Ei [rope continues to get along without North American wheat. Drought in Argentina caused ap= | prehension, Broomhall’s South | American agent called an estimate {of 1,700,000 acres alrcady lost as a (result of dry weather. Although it Australia, too, is [suffering from deficient sub-soil | moisture content. Russia offered and sold moderate

5 Ha of wheat during the week,

{but whether or not her exports will |be heavy is still a question, The Soviet crop was estimated at 1,150,« 000,000 bushels, larger than 1936 and about equal to 1935. Politics | may intervene and cause stoppage lof free exports. Small receipts of old crop corn |made for an upturn in September {corn during the week. | At the close Friday, September corn was 95':, up 1 cent. Induse [tries now are compelled to rely | mostly on imported corn and from 'all indications domestic old corn [will have almost disappeared by | September. Other grains were irregular and

CHICAGO GRAIN

RANGE Low

rev,

P High Clase Close

1 Wheat—

| Sept 4 d1 4

4 $ | Dec ‘ : 1.0 1 ‘ 1

? | May

TA i Oats 1233 |

A "| $1.0261.03%

212 red.

10314

Close 102

40% |

113!

COMMODITY PRIC ES

COTTON NEW YORK High Low Sentember ....

October December March

9.31 9.35 9.43 May 9.52 July vio. Bh 9.57 Spot, 9.70, +10, NEW ORLEANS High Low

9.31 9.43 9.52 9.63 9.71

September October . December March 7.75 7.68

BUTTER

November

October

Prev.

Close !

Prev. Close

| BUSINESS Sold Thru

Here's the Ad

GOOD paying lunchroom; sold at once,

bargain Call HU- 6667.

Times Want Ad

Phone Riley 5551 for Want Ads ® A

1 065 4 Corn— Sept | Dec May

9314 62 63%

Sept | Dec | May Rye— | opt | Dec May

| Dee

$1.07; red

Wheat-—No red, No,

3 red, , No 9

, sampis No. 4 2 red garlicky, $1,060 sample garlicky. 80c Corn—No, vellow., $1.00'%. Oats—Non, 3 tough sample grade tough, 27%c: N i 1 . 31126@33¢c; No 2 whilte, | 3 white, 20/301, ,¢; No. 4 white, No 2

06s

. 80Va2@ 85¢ Barley—Feed, 60c; melting, 65@90c. Soy beans Cloversed—Unquoted, Timothy $2.50¢12.60. Cash provisions—Lard, $10, 17 nominal; looge, $10.72 nominal; leaf, $11.50 nominal; $16.50 nominal.

| WAGON WHEAT City grain elevators are paving tor No, 94c. other grades on their merits, | Cash corn, new No. 2 yellow, 91c., Oats, | 26c. May--No. 1 timothy, $1515.50.

LIVERPOOL WHEAT

bellies,

High .. 81.25%

1.25%

‘ane

Low $1.25'% 1.25 1.21%

Close $1.25 1.25% 1.213%

WINNIPEG WHEAT

| October . Pectmber

| WINNEPEG . $1.23% $1.22 « 1.20% 1.18% « 1.40 1.20

LOCAL GRAIN

CASH

Wheat-—Market, weak; | loads; No. 1 red, 98cw $1; 98c, No. 1 hard, 96@98c; No. 2 hard, 97@ 09¢c. Corn--Market, weak; receipts, 16 care loads; No. 2 white, 97@99¢c; 0. J 5@8%c; No. 4 while, 93@ 05¢c; 94@96¢c; No. 3 yellow, low, 90@ 92¢: No. 2 mixed, . mixed, 90@92¢c; No. 4 mixed, 884 9%¢. Oats ~-Market, steady; receipts, 27 carloads; No. 2 white, 270 38c; No. 3 white, 3 White, 26@27%0,

FOOD PRICES

CHICAGO, Aug. 28 (U. P.).—Fruit and vegetable market Sweet Potatoes—Tenness see, bu. bsks. $1. Ha), 15, Carrots bunches, 1@ 2c, i 106 50¢, TOR tichigan. 12-qt, 1564: 50c, Cauliflower—-Colorado, crates $1.3561.40, Peas—Colorado, hampers, $1.38

WHEAT

receipts, 10 care No. 2 red, 97@

926950:

|g) .50. Celery—Michigan, flat crates, 40@

| mameate

FEDERAL DEPOSIT INSURANCE CORPORATION