Indianapolis Times, Indianapolis, Marion County, 8 September 1937 — Page 13

NEW YORK STOCKS

DOW-JONES STOCK AVERAGES

30 INDUSTRIALS 5 a Yesterday ... .164.39

UGE hs OR \ 5 : 9 15 Ys Week ABO cc.oecccivsscsnsss.173.08 : A Sed 2x S172 S10 053” MONE AZO «.coeoeesensresss 186.72 : Allied Stores Ls : 3 YEAT REO ecec.evnenesens...168.50 ; Allis-Chal 57%. 57 57% ! Allis-Chal rtswi. 19: 32 -32 19-32 ’ Am 83% Ya * : - ’ m Rasa Bi 97V, 4 : Car & in & 8.8 = Am Enc Til .... 86

High, 1937, 194.40; low, 164.39. iC

$1.09 BUT GOES QUICKLY LOWER

Wheat Also Rises After Hesitation During First Hour.

——————

RISE PREDICTED WITH NEW CARS|.

Automobile Industry Seen Holding Key to Fall Production.

: Net High Last Change Parmelee ...... 3 Pathe Film .... 8 Patino Mines .. 14% Peerless 5% 3 a

Cem Pena DC Bt ‘A. nn RR . 1%

Net Last Change

—8.16 ~—4.33 —0.26 ~-1.05

hicago S ks ike i Chicago toc Advance AIM ....eee0 Armour & Co ...ceveee Berghofl Brew c.ceevees Bruce BIL ...c.eeeeeee Butler Bros esses Cent 44 Sec cv of . evens Chgo

Chgo ao Cities Comwith Edison Cord Corp Elec 1}

Acme Steel .... 75 wed

High, 1936, 184.90; low, 143.11. 20 RAILROADS Yesterday .. vee 44.37 Week 080 .cocesesccscessess 48.21 Month AZO .c.cecsscscessass 53.00 Year ago ....c.cc.ce. vsviasnes DI.I5

seessees

Pd a oa

‘Bonds Fall to 1937 Lows in Active Turnover

NEW YORK, Sept. 8 (U. P.) .—Stocks fluctuated nervously today, while bonds declined to new lows for the year, grains advanced under

. lead of corn and cotton fu-

tures.were steady. Stocks opened irregular, rallied under lead of metals and around the end of the first hour were practically unchanged. Sales were heavy. Initial blocks ranged to 10,000 shares. A general recovery set in early in the afternoon, but volume lightened on. the rally. Much selling was necessitous, forced by inadequate margins weakened by yesterday's crash. Most fluctuations weré small. At London, where the shakeout

" began yesterday, prices of American issues fell only to the Wall

| Street close, but nervousness con-

tinued. Resistance developed to selling on the New York Curb. Railroad bonds, however, broke to new lows in active trading. Before the Department of Agriculture forecast a cotton crop of 16,098,000 bales, fourth largest in history, cotton futures were one to five points higher. Then prices broke

25 ‘points. ’

_ Grd Stocks

. Last Hifh Low EE

Sup App 2 “Pur of Ark N Austin Ce . Barium Stl Berkey Gay an eenine

300 0D

Lion Air .... McWms Dredge .. Mesabi_Iron

= BO DD = 3 ON

4 /4

[od

1 9 0 1 0 5 9 6 1 4 9 7

3 y 7 1 3 1 1

FER A Ae

sis

a STATEMENT

‘WASHINGTON, Sept. 8 (U. P.).—Government expenses and receipts for the current fiscal year through Sept. 4, compared with a year ago.

N. Y. Bonds

By United Press

BOND PRICE INDEXES 20 20 20 Inds. Rails Utils. Yesterday ~..... 91.2 87.9 99.7 Week ago ..... 91.6 89.3 100.4 Month ago ... .. 92.) 91.7 102.0 Year ago 97.3 105.8 Two years ago. 89.4 81.2 101.5 1937 high .. .. 95.0 101.2 106.0 1937 low ...... 91.2 7.9 99.3 1936 high ..... 94.8 1004 106.2 1936 low ...... 90.0 84.7 103.5 1935 86.4 103.6 93.1 1935 91.0 89.3 83.0 (Copyright, 1937. Standard Statistics Co.)

60 Bonds 92.9 93.7

98.4 90.7 100.7 92.9 100.2 93.3

U. S. GOVERNMENT BONDS Treasury Bonds

1943-40" Ju. ++..105. 1941 coins +=++103 16 Yeseann 108.1

59-56 .. 98.26 98.25 Federal Land Bonk Bonds

July Jan. May May

Bid Asked ield 1955-45 . 99 15-16 100 3- 16 by 98 00 100% . 0 58 is /2 y ean Ya Nov. ress Ya Home Owners Loan Bonds 1944-42 99.12 99.12 DOMESTIC BONDS High

4%s

2%s 99.12 Low 73% 105% 109%

117%

Last 13% 105%

Am & For P 5s 2030 ... 75% Anaconda C 425 50 . 1053 Ya At T S PF gen 4s 95 .. B & O 4's 60 58 9% Can Na Ry 5s Oct 69 .117%2 Can Pac deb 4s perp . 95% Ct M St P & P 5s 2000. ) Chi NW 43 Js 49 Chi RI 4'2s 60 PZ CCC St L 215s E77 ... 90 Cons Oil 3'2s 51

Flor E Coas 5s T4 Goodrich 6s 45 . Goody T & R 55 57 ...1 Gt Nor 4s G 46 Int Hy El 6s 44 ...... Int T & Tev 42s 39 .. Mo Pacif cv 5's 49... Nat DP 3%s 5lww .... N Orl Term 4s 53 N Y Cent ref 5s 3012 A NY NH H ¢ v5 or ae PaP&L a; Seab Air Lin be 5 So Pacific a 81 Studbk 6s Texas Cor 3 55 51 Un Pac 1st 4s 47 Young 8 & T 4 61 ....

FOREIGN BONDS

10274

Last 1071, |

8 64

Canada 4s 60 .... Japan 6l2s 54 ... Japan 5's 65

FLYNN BLAMES PROFESSIONALS

Only Leading Shares Now Inactive, Expert Points . out.

By JOHN T. FLYNN Times Special Writer

NEW YORK, Sept. §.—There is certainly nothing mysterious in the stock market decline which has been in progress since the Jhiddle of August. In the first place the market has presented ga rather peculiar situa-

tion. Mr. Gay recently complained about the lack of activity, ' which he ‘spoke of as lack of liquidity.

95.3| Am Woolen

Fk H Coal pf.. ' Eri

thin Ea

me Am Stl Fdies’ oe ais Sugar .... 33 Sugar of . Summat ... T&T . ...104

00 —

. - PCBS aks GT dit WTR AIDI CID 00OCY be —

ype F

sai = ®

en. Woolen pf . Am Zinc ....... 10 Anaconda ..... Armour III . .. Atl Refining ... Atlas Corp . ..

oS SX)

tC BD CCN I DN

obo

FI vd

0 . Aviation Corp .

Loc ope wi Loco & Ohio > Co

Burroughs Butte Cop Byers, AM ....

Sajlahah 2c : Ee .

ae Can Dry Ris wi Can Pacliic

Com Solvents . Commonw & So Cong-Nairn .... Cons Cigar .... Cons Edison ... Cons Film pf .. Cons Oil Con Textile . Cons Coal vic .

SIREN TARRY

Crown Zeller. . Curtis - Pub ... Curtiss-Wr .. Curtiss-Wr A.

8% 453 15% —

Del & Hud. ... 273%

Du Pont deb 1a Dow Chem 113% —f— -179 38% 9, 14%

11%

East Kodak Eaton Mfg Elec Autor Li Elec Boat .. Elec Pwr & Lt. .

Fed Mot Fed Screw . Flintkote Co . Freept- Sulphur.

Am Inv..

Goebel Brew. Goodrich . Goodrich pf.... Goodyear Graham-Paige . . Granby .. ae Union... ot North gt. Green H a Cp.. Guant Sug ...

+E ELLE

High, 1936, 59.89;

Yesterday Year ago High, 1937, 87.54; Tow, High, 1936, 36.08; low,

Yesterday

High, 1937, 69.67; High, 1936, 66.38;

Week ABO .cccacessocssansses Month 280 «..ceiocssccsensss 28.96

Week 680 ...ccocerncescernns Month 880 ....covovevssenses Year ago .......... eensiaaivaa 62.34 low, 55.39. low, 51.20.

High, 1937, 64.46; low, 44.37. low, 40.66. 20 UTILITIES ereseisnneanee eres 25.3%

26.73

. 35.04

25.37. 28.63. 70 STOCKS

esrvsssssesacsionee

55.39 58.75 63.69

Intst D 8 ..... 20% Intertype ..... 15

Kelsey-Hayes B Kennecott

Kroger G & B.

9% 55% 4 197%

Leh V Coal . Su Leh Val RR ... Lehman 7 Libby Mc & L . L OF Glass ... Life Savers ... Link Belt wesiiien 156 Loew

Mack TH

Macy R H . Madison Sq G.1 Maracaibo Ex .

cIntyre Porc. cKess & Robb

0 cLellan St ... 11

fami Cop .... ident Pet ... SP SSM .... 0-K Tex

0 . 541 vs 1Va otor Prog’ . 27 ueller Br .... 32% 8

otis. Blov pix Otis Steel ie Otis Stl cv 1 pf 75%

Paraffine Co .. 64 Paramt Pict ...

Parker Rst Pf.. 2

High Low 20% 15

Net Last Change

20%, 15.

9% 55 4's 197s

1% 10 36% 9% 26%

56 73%

C1: 11511

G. M. STOCKHOLDERS TOUCH 1933 RECORD

NEW YORK, Sept. 8 (U. P.)— General Motors Corp. today reported its total common and preferred stockholders as of the third quarter at 363,675, a new high since the first quarter of 1933, and a total

Purity Bak 11%, Pure o Rts ‘w 33 3 *R— 10% 67 1%

Telautogrph Tenn corp Texas Cor Texas Gur Prod G Sul ..

cece

Tex

Third 2 Ry . Thomp Star Timk-D Ax Timken R B ... Transamerica Tri-Cont Truax Tra .. 8 20th Cent-Fox «31 Twin Ct RT . 5% Twin Coach ... . 14%

Ulen & Co .. Union B & P . 67 Union Carb ... 92% Un Oil Cal .... 223g Un Pacific *...110 Un Aircraft Cp. 23V4 Un Air Lines .. 11% Un Biscuit .... 2134 United Corp ... 4Y United Cp pf . United Drug ... Un El Coal .... Un Gas Imp .. Un Paperbd ...- US Fosman «15

67 91% 22% 110 23 11% 213; 4s

1Vs 24Y,

1V4 Va-Caro Ch ne

Wabash Waldorf Sys -.

5 West Union ... Ya West El 137 Wheel Steel ... White Mot .... 1 White Sew M . Wilcox O&G .. Wilson & Co .. 4 Woolworth .... 43% Wrigley ceeeees

43Yg 67%

Yellow Tr .... 17's - 17%

| official report for the month will re-

‘| lines in general has deteriorated

magazine Steel said today.

PITTSBURGH, Sept. 8 (U. P.).— With the automobile industry rapidly swinging toward production of new models some increase in steel tonnage is virtually assured, the

American Metal Market will say in this week’s Iron and Steel Review.

“A crucial date in the steel mar-

ket has just passed,” the review will say, “and ‘the outcome will be awaited with interest.

“We estimated = production of steel ingots last week at 84 per cent of capacity and so far as can be observed the rate beginning teday will be at the same rate but the

flect a decrease as computations are now based on the total number of days in the calendar whereas there was no production on Labor Day and little if any the day before.

Buying Steel Lags

“New buying of steel has continued to run well behind the rate of shipments but releases have held up well and producers expect new buying to approach closely its former volume within a fortnight, when ‘executives are back at their desks and have had time to scrutinize their circumstances. At the same time the aspect of consuming

somewhat in the last fornight and no one expects steel production in the last four months of the year to measure closely to the average in the first eight months. It is still likely that the calendar. year wil? make a new record in tonnage by passing 1929, but only by a small margin. “Automobile assemblies have been decreasing less sharply than was expected as demand for 1937 models persisted. “The average date for the model switches will fall just after Sept. 15.

Production Holds Near July High

CLEVELAND. Sept. 8 (U. P).— Steel production is holding fairly steady at the high rate prevailing through late July and August, the

“Producers apparently are not troubled at the small current volume of bookings, and are actively

seeking to clear their books of backlogs,” the trade journal added.

PRICE INDEX

equals 100):

Yesterday ....,.....138.53| Year ago Week ago .........137.05/1937 high

Following are the orices used Commodity— Today $ 113% 1.05% 83% 3238 7.10 1052 09 0350

Wheat, No. 2 red (bu.) ...,.... Corn, No. 2 yellow (bu.)....... Rye, No. 2 (bu.) Oats, No. 2 white (bu.).... Flour, Spg. Pat (196 tb. sk.).... Lard, prime steam spt (1b.)..... Coffee, rio is spt (1b)... Sugar, raw 96 test (lb.)..

ssp

DAILY PRICE INDEX

NEW YORE, Sept. 8 (U. P.).—Dun & Bradstreet's daily weighted price index of. 30 basic commodities, compiled for the United Press (1930-1932 average *

Month ago ........141. 06/1937 low (Sept. 1)

in compiling the index:

Heilenian Brew ....... Jarvis Katz drug .. 1eessans Kellogz SW Bd ........ Kingshury Br Marshall Field Mid West Corp ....... Mid Vest pf WW ..oeee No’west Bancp .ec.eeees Peabody Coil B «c.e0.. Pines Wwitont Prims cssssesense Raytheon ot v Sangamo El .. Stan acs ng

cseebases

ses0csss

“sesensses

Trane Utah Radio. Prod Utility & Indus ....... Wisc Be Shrs ... Zenith Radio :

317%

CORPORATIONS BUY U, S. NOTES|

Reserve System Members Reduce Holdings to Increase Loans.

WASHINGTON, Sept. 8 (U. P.) — Treesury officials disclosed today that big corporations are transferring large volumes of their idle funcs into short-term U. S. Government securities,

. Pederal Reserve statistics showed| simultaneously that in the week Ma

ended Sept. 1 member banks of the Reserve System had reduced their

holcings of Government obligations by $39,000,000 to $8,193,000,000, which hy ,070,000,000 less than on Sept. 2 1936. Explanation for increased corporation interest in short term Government securities, - according to Treasury officials, lies in the banking acts of 1933 and 1935. The 1933 act prohibited Federal Reserve member banks from paying interest on demand deposits. This prohibition was extended by the 1935 act to include all insured banks. Among the corporations which are finding short-term Government securities a convenient investment for their idle cash is General motors. Between Dec, 31, 1936, and July 1, 1937, the corporation bought more than $75,000,000 worth of Treasury obligations. Another corporation, it was learred, bought $27,000,000 of the series of $350,600,000 in bills coming due next week.

CHICAGO, Sept. 8 (U. P.)—Sude den activity in September corn fue tures ‘which swung sharply in a nine-cent range, featured .activity

in grains today on the Chicago Board of Trade. At the end of the first hour corn was 7% to 5% cents| higher, wheat was 11; to 1% higher, and oats were 7% to 1% cents higher. September corn, calling for delive ery of the last of the 1936 crop, which has been rapidly disappearing in recent weeks, shot up to $1.09 a bushel, up seven cents, in mid-ses-sion. Quick profit-taking by longs cut the price to $1.07 just as sud denly but buying on the break care ried the price to $1.07. a bushel at the end of the first hour’s trading. Wheat prices picked up and after the first hour were more than a cent higher on good buying-and ine creasing interest.

WAGON WHEAT graln elevators are paying for No. 98c; other grades on their merits, Cash "corn, new. No. yellow, 91c. Oats, 26c. May—No. 1 maty, [email protected].

un 2

ARGENTINE GRAIN BUENOS AIRES, Sept. 8 (U. P.).—Grain futures opened unchanged: Wheat—Sep= tember, $1.27%, unchanged; Novemk=r, $1.17, unchanged. Corn—September, Sy unchanged; November. | 56c, unchanged, Oats—Spot, 28c, up %c. Flax—September, $1.327, unchanged; November, $1.32, changed.

une

WINNIPEG WHEAY

nial Ch icy Ia 1a

October

seesdensi 19

DAILY OIL OUTPUT DECLINES IN WEEK

TULSA, Sept. 8 (U. P.).—The 0il & Gas Journal today reported a slump of 57,141 barrels in daily oil production in the United States dur=ing the week of Sept. 4, the first major decrease since the last week of May. The Federal Bureau of Mines® September estimate of consumer demand was 3,509,300, compared with the Journal's estimsle of production of 3,678,252 barrels.

FORD ON FIVE, DAY WEEK J'imes Special DETROIT, Sept. 8—The Ford Motor Co. announced today that the five-day week had been restored for a majority of its employees. The company put a four-day week inteeffect in July for the slack summer months.

AND COMMODITY QUOTATIONS

Commodity—

Cotton, (Apr. 5) . 158.26

L137.05 | Copper, electrolytic

Lead, spot (Ib)... Zinc, spot (1b.)

Week Azo $ 1.083% 1.03% Hd S034 6.75 1012 9 350

Year Ago $ 1.13% 1.13 91 45% 7.425 1192 08 0365

Steel,

Lambs, good (1b.) .c.ccovevpnonine Hides, native hvy. steers (lb.).. Wool, fine unwash combing (1b.) mid-upland Silk, 13-14 deniers Jap (1b.).... Rubber, spt smk rib (1b.).......

esssssvssccse

Tin, straits spot (1b.)....cc0e0ees Silver, comml bars (0z.)...c0000 scrap, Chi. (tom)..... has Pig iron, Iron Age comp (fon). Coke, Connelsville (ton) Cement, dom. Portland (bbl.).. 2.25 Yellow pine, 6-in. base (M. f(.). Douglas fir, rough (M. ft.)..... . Gasoline, tank wagon (gal.).... ‘Crude oil, 40 gravity (bbl.)..... 1.2

Week Today Ago $ .100%%2 $ .103215% A834 18%

Year Ago $ .0950 J134 35% 1250 6812 165% 0934 .0460 0490 4514 44% 16.25 18.73 3.65 2.55 50.00 38.00 087 1.18

ab.) ......

(b.) cesses 065215 06871% H8%% 44% 18.75 23.25 4.35

065214 0687%% 58% 44% 18.75 23.25 4.35 2.25 60.00 | B2.50 095 1.2%

60.00

52.50 095

"A curious fea- only surpassed four times in the EC I a Th 74%, Butter. 92 score (1b.)........... 3414 Ji .35% Source of Quotes—Chicago: Grains. livestock. lard. steel

This Yea ast Yea .$1, 358. 305. 811. 74 $1, 0 18. 995. 63

Repeipte .. 934,127201.38 10,387.30

Custems

Inac. So XNew

LOCAL PRODUCE

(The prices quoted are paid for stock gathered. in the country, while for gellye ereis in Indianapolis the prices are 1 cent higher. Each full case of eggs must weigh 85 pounds gross.) Gi rE—No. 1 Strictly fresh, loss off, 18c

HO avy breed hens, 5 lbs. and over, 17c; joghorn lens: 12c; heavy breed broilers, 937 stock, 2 lbs. and over, 18c; Leghorn broilers, 1937 stock, 2 Ibs. and over, 16¢; bareback broilers, 1927 stock, 5 ibs. an over, 12c; old roosters, feathered ana fat, 5 Ibs. a geese, full-feathered and fat, 9 to 14

Ss. oe » Butter—No. 1, 36! %@31s: No. 2 1! 2@ 35¢. Butterfat, No. 1, 31c; No. 2,

BANK STOCKS

. By Atkins, Hamill & Gates) Banker .

Bank of Manhattan ..... Central Hanover

Today's Pur. Total Pur. --$5.815.383 41 $1.350,703,215.47

Continental ... Corn Exchange

Empir First National . Guaranty Trust Manufacturers .. . ational City ........ ew York Trust ..... Public National INSURANCE STOCKS

American Surety ............. 51% Automobile weseass 31 Baltimore American .......... 67% opnectient General .......... Ya enn . Great American cesar s des National Union «...c.ee0venee ‘133 Paul Revere 27

MONEY MARKET

"NEW YORK, Sept. 8 (U. P.).—Money rates were unchanged today. Call Mo Exenonge, 19%; Curb Exchange, 1 -Bankers’ 2 olances=? 0, 60 and 90 days, 2@7-16%; 120 days, 9- 16@ 2% To; 150 and 180 days, 3:@9-16% - Commercial Paper—Prime names, Time Money—60 and 90 days, 1% 150 and 180 days, 12% Rediscount rate at "New York, 1%.

NEW BOND ISSUES

a (By W. L. Lyons & Co.) en Allis Chalmers Co. 4s 52. Atl City 3%s 64 B & O 4%s 3 . B. F. Avery Sons 5s 47 ... €alif Oro Prw 5s 6

%. 120

- 4%;

C 7 . 967% N ¥! State Elec Jas 4565..... 95%, Northern State P3 vas 67 .ovve 91% Ohio P S 4s 62 desist aves ey Pac Lighiing 415545 goque Paper Co “35s 52°.

FOREIGN EXCHAN GE

NEW YORK, Sept. 8 (U. P.).—Foreign exchange opened eas t Cable Rates

Eagiand (pound) 4.95 1-16 60-d. bill rate) 494 5-16 Carada fgonien 99 63-64

gelgium (belga) res germary (mark) + Vitzerland (franc) 29 .xolland” (guildery .. 5513

w aSpain (peseta) ..:

weden (krona) Norway (krone) Denmark (krone) Japan : (yen)

ture of this is { that the lack of - activity has been exclusively in the so-called pa stocks. The market for the list as a whole Has been as active or even more active and hence more liquid than in 1929. The so-called active stocks—the market leaders, the ‘30 or more shares which supply 50 large a part of the turnover in very active markets—these have been most unreliable in their activity. At intervals trading in these turns down and the market slumps, often without any apparent reason. The trading in these stocks is carried on largely by professional traders. When, for any reason, they step out of the market, these active stocks go sour. These traders step out when that marginal group—the outside speculators and semi-investor—who pay their profits, become languid. And it is the most natural thing in the world. for this group to grow frightened and pause at the first threat of war. Therefore, it would have been strange with the outbreak of hostilities in the East if speculative markets did not decline. If the outbreak threatens to spread the break will be more severe. Cock-Sureness Gone

One other factor, of course, is at work. There is a growing feeling of bewilderment in - speculative cig les. In the beginning of the r there was a great deal of cockin in Wall Street. There was a large group of men who believed strongly that we were on the edge of a great boom. They could tell

Mr. Flynn

you the reason and argue it with

endless data for hours. But that

, mood of certainty and pretension to

full knowledge has passed. Now most people there confess themselves as utterly puzzled. Perhaps the gold situation more than anything else procuces this feeling. It is a subject they understand so little. And those who understand it say frankly that they have not the faintest notion how it will end. A feeling of this kind of course always makes for a timid trader. Wall Street is rather notable for the know-it-all attitude of many of its leaders and followers. They all

can tell you all about economic and |-

social conditions and they are full of inside information about everybody’s businéss. But never has

there been a time in Wall Street| |

when there has been less of this and more humility in the presence of forces they are compelled to ads mit are beyond them.

For Gentlemen Who Seek the Finest

ii I TIT TT MI

Hall Print Hayes By Hecker Prod ... Helme G W ...1 Herc Mot Hershey Holland Furn . Homestake Houd-Her B ... Househd PF fd ~ Houston Oil ... Howe Sound . Hudson Motor | Hupp Motor

10% 63 127% 3%

—Te

Ill Central ..., 17% Ind Rayon .... 31% Inland Stl Inspiratn Cop , 21 Inter Iron .... Int Agric Int Harvester .. Int Hy El A .. Int Int Int Int Int

2 TET ...... 3

LOCAL ISSUES

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

Ask 103

106 1062 1062 100

Citz Ind Tel (TH) a3 61 H Tel 3% 55

Morris 5@10 Stores 5s 50 .... Muncie Water Yor~ 55 65... Noblesville H L & P 62s 47...10

seymour Water Co 5s 49 T H Trac & L 5s 44 .. T H Water Works 5s 56 T H Water Works 6s 49 Trac Term Co 5s 57

Belt RR St Yds com Belt RR. St Lds pf Cent Ind Power Dia M8 aie.. 26% Home T&T Ft W 17 os 50Y2 Hook Dri Inc on sions 7 xInd & Mich BE! T8 cccooceas. -108 Ind Gen Serv Co .

ndpls Water Co pf ;incoln Natl I fe Ins Co com P R Mallory N Ind Pub Yon Co pfd 5%s.. N Ind Pub, Serv Cc pid 6s ... 75 Ind Pub Serv Co pfd Ts ... Progress Laundry Co com 1.66. 1 Pub Serv of Ina pfd 6s > 9 Pub Serv of Ind pfd 1s. we Smith Alsop P&V pfd.. Smith Alsop P&V com .... Terre Haute Elec Co 6s.. Union Title Co com Van Camp Milk So pid . Van Camp Milk Co com. xEx-dividend.

(By M. P. Crist & Co.) Market St. Investing Corp ... 30.73

Und

ON SAVINGS i

company’s history. The total includes preferred stockholders as of July 6, and common holders as of Aug. 12.

‘FOOD PRICES

CHICAGO, Sept. 8 (U. P,).—Sweet Potatoes—Tennessee, bushel baskets, 85@90c. Carrots—Illinois, bunches, 2@2%c. Spinach—Michigan, bushels, 50c@$1. Tomatoes — Michigan, 12-quart baskets, 153% Caulifiower Colorado. i 10@1. Peas—Colorado, hampers, [email protected]. Get: ery-—Michigan, flat crates, 50@65c. Onions (50-1b. sacks) — Minnesota Yellows, 70c; Washington and Dish Valencias, $1; Idaho Valencias, 80c@$1.

GRAIN STOP "PROVIDED

CHICAGO, Sept. & (U. P.).—Executive traffic officers of the Western railways today authorized an additional free stop for grain in transit.

INVESTING CO. -’S

Bia Ask Bid Ask 17 30) 120y cf 52 22.62 24.78 8. 2ins Shrs 53 25. 13.57 4. 41 1. \ ds .39 i. 3 16. 7 3 6. 18.81 a 2 28.61

8/Sel ? 3 Sloat Inc 1 .98 75) Be Trask 18 .

D200 10 edie ie aE =~ eegaas

.[Std A Su til 61iState St Fd Tr A 5.12 "HB 5.2

4 Gen Cap 38.36 41. inv. 6.11 6.6 Goin Securities Agri 1.8

TrSOA 135 USEIL&PA 15.87 ” - 2.83 Tob 1.02 » Ta Inv Shrs 1.32 Well Huron Cp .53 93] Inc Inv 22.13 !

90 17.12

Young Sheet. pf 98% 981, 98%

— 1 38% 38 2 7

Zenith Rad 31%

Zonite

ROEEHE CBINIONS

NEW YORK, Sept. 8 (U. Py ~) Brokerage house commentators today groped for an answer to the stock market break—the war scare and Governmental regulation vieing for first place—and counseled caution in commitments. LAMBORN, HUTCHINGS & CO. —As to what the market may be discounting, aside from a disappointing fall business, with poorer earnings, {ds hard to guess. It may be anything from war to taxes. E. A. PIERCE & CO.--The market appears to be governed entirely by day-to-day news and unless there is some immediate improvement in the foreign situation, we would ex-

ees

1.66| pect further reaction.

FRAZIER JELKE & CO.—The acute weakness in stocks may be attributed either to the war scare or to fear of domestic business disintegration. . If the cause is primarily the war scare, the list could snap back violently. If it is the domestic business situation, we may

be getting the signal for a minor |’

bear market. We think both causes are contributing with the war scare exaggerating the effect of liquidation undertaken on the basis of purely domestic considerations. Unless the ‘present market situation is abnormal, the list should rally soon—regardless of whether the main trend has been reversed.

~ SAFE DEPOSIT

BOXES

Reasonable Rental

Security Trust Co. 130 E. Washington

Member Federal Deposit Insurance Corp.

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

Indiana; lis. Office

200-21

Thomson A McKinnon

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

Ci rele Tower

And Other Leading Exchanges

LI. 6501

Hogs, 290-350 1b. zd. choice (ib.) Steers, 1100-1300 choice (Ib.)...

108212 168212

10438 09:0

Ji100 1687%

scrap and hides. nelsville: Coke.

Boston: Tulsa:

E. St. Louis: Zinc. New York: All others.

Wool. Crude oil.

Con-

Hela to Saf this

WILL BE SENT

FREE

[IIT

SCHOOL HAS BEGUN Accident Hazards Increase

"DRIVE CAREFULLY

* For the past two months of summer vacation time, little thought has been given to cautious driving near schools but now, school has begun and again you are warned to “Look out for Kids”. Keep a sharp

lookout especially for the smaller =

tots who may unthinkingly dart out from between cars or dash across the street in front of you. Heed “the signs ‘School Slow” and reduce your speed -- give the kids a break «= you do not want to hurt one!

~ Help to stop the needless slaughter of school children by careful driving. "Remind your friends, neighbors and associates to do the same. Don’t take the attitude that it’s always the other fellow’s kid that gets hurt. Someday it may be your child - - then you'll drive carefully.

Each year at the opening of school, EMPLOYERS MUTUAL distributes thousands of these posters as part of an intene sive Accident Prevention Program. The poster is 17x22 in. in size and is printed in 3 colors. You may obtain a copy by addressing the EMPLOYERS MUTUAL office given below. All we ask is that you hang the poster in a conspicuous place where it may serve its ‘purpose. |

EMPLOYERS MUTUAL LIABILITY INSURANCE CO. Automobile, Public Liability, Workmen’s Compensation and Other Casualty Insurance NOME OFFICE: WAUSAU, WISCONSIN |

Indianapolis: 103 Circle Tower, LI neoln 2, Herbert Higburg, Branch Manager

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