Indianapolis Times, Indianapolis, Marion County, 11 September 1937 — Page 11

‘SATURDAY, SEPT. 11

1987

TECHNICAL RALLY SENDS STOCKS UP FROM . YEAR'S LOW

Industrials Retrace Decline in Heavy Turnover.

NEW YORK, Sept. 11 (U. P.).—The stock market made a technical recovery today. Industrials retraced about 2 points of yesterday’ s decline of 814 points in the average. Rails made small gains and utilities barely held their own. :

Throughout the list were gains ranging to 3 points, although a size- . able group of stocks fluctuated in a one-point area. Trading crossed the million-share mark for the first Saturday since March 13.

Steel and railroad issues erg leaders. Several high-priced issues, which experienced 5 to 10-point declines, came back 2 to 3 points. Coppers, chemicals, electrical equi ments, motors and amusements or inent on the advance.

Initial trades came out in lots ranging to 4000 shares in General Motors. Blocks of 1000 to 2000 shares " were common. Tickers ran late several times. Traders studied the business situation to determine if any adverse effects were transmitting from the recent weakness in stocks and bonds. The latter still were weak today with U. S. Governments sagging. Commodities were down, notably grains. Cotton futures sagged about 50 cents a bale to new four-year lows. All nearby cotton months were below the 9-cents-a-pound level.

DOW-JONES STOCK AVERAGES 30 INDUSTRIALS TORY covcevessvsvsvisseess.. 160.04 Yesterday ...cecccoinceeese 157.98 Week ago crecsssantiiannnad 172.55 Month ago .vceeecedsceceses 190,02 Year ago .. 168.02 High, 1937, 194, 10; low, 157.98. High, 1936, 184.90; low, 143.11. . 20 RAILROADS Today 42.33

Yesterday 41.67 Week ago 47.43 Month ag0 c.ccevsessscese.ss 5413 Year ago 535.83 High, 1937. 64. 16; low, 41. 67. High, 1936, 59.89; low, 40.66.

20 UTILITIES Today LoL

Yesterday Week ago Month ago Year ago High, 1937, 37.54; low, 24.83. High, 1936, 36.08; lowy 28.63.

70 STOCKS Today sisi OTOLES .. 53.75

Yesterday secsscesccssssesces 53.08 Week a0 ..cccesscsce sonsss 58.43 Month ag0 .cccsscccccsccsess 64.81 Year ago . 62.18 High, 1937, 69.67; low, 53. 08. High, 1936, 66.38; low, 51.20.

Curb Stocks

Net Loy Cigse Change 3% 3% — Ya

+2.06 —8.38 -+0.38 +6.%5 -—0.57

tees Sess

+0.66 —2.99 +0.22 +0.24 —0.08

®sesenesgsscsensens

Aero Sup B 13 V2 17% 57 16

: 2 -—3 2 + in Am Maracaibo . 1} ? is + Ya Am Super ..... 13 3g Ark N Gas A.. 1g Austin Silver ..

bi “ae B ven J Ya Ys

+ + <5

Brown Co pf.. Can Marconi .. 822 Carrier Corp .. 55% Centrif Pipe ... 49, itjes Serv cave 2% ities ry ££ ¢ 334 ColO& Guns i Con Sop Mns . Con Ret St .... Cooper YE Cord COrp ...s. Creole Pet ..... 3 Cusi Mexic .... 1- 1s Det Gry Ir Fdy Eagle Picher . Equity Cp ... is Fisk Rubber ... 97 Ford Can A ... 20'2 Ford M Ltd ... 63% Grd Nat Films. 2Ys St Sor paper , « 35%, Gulf . 50 Fiumble Oil .... 712 Imp O Can ... 19% Ina P & L pif

Mich on : Molybdenum ...

. 1008

antepec Perfect Circle . 30Y Pitts Pl Gl ....110 prudential In ..

S tacks

Chicago

bott Lab sesssrane ams Mf g ams Royalty cos Alum

Asbestos Mig Asso Investmt

.teoncions BerghOff Brew ovoeevees liss & Laugh org Varner ..

eessscens

TO Sutler B p Canal Cons cv pf ..... Castle AM ....;.o00000 Cent Ill Sec ......ce000 Cent Sta P & x Pf cerns Cent’ & SW Ut

Chgo Corp «..... Chgo Corp cv pf Chic Flex Shaft NW

Cities Service ...ceese Comwlth Edison «.eee. Consol Bis ...cce0c0ee Consumers Pf ceccecees Cord COIp --.cocoveens Consumers B ceceacess Dixie Vortex

G U . Goldblatt Bros .,.es.s Gt Lakes Dredge ..... Harnischieger ........ Heileman Brew ....... Hein W Mot P ceveses Hibbard S & B .eeese-

Ralam, Stov

Katz Drug . Kelio 2 Sw Bd 2 eeress Ken Rad Tube A ceeeee Poti cu x vesssnses 27 gerlyn Oil A Kingsbury B La Salle Exien - Lawbeck 6

sssesssacse T' sesesesee sssoscnce sesonssece .

# #

MARKETS AT A GLANCE :

Stocks higher in active trading. Bonds lower. Curb stocks higher and fairly active, Chicago stocks irregularly higher. Foreign exchange genetally firm. Cotton futures decline to further new 4-year lows; near-by options below 9-cent loan peg. Grains lower in Chicago; season’s lows established in all deliveries of wheat. Silver unchanged in London at 19 15-16 pence a fine ounce,

U, S. INTEREST RISE FORESEEN

Time Nears When Rate Will Exceed 3 Per Cent, ‘Flynn Predicts.

By JOHN T. FLYNN Times Special Writer NEW YORK, Sept. 11.—-Anyone who thinks we have paid our way out of this depression is very much mistaken. We still owé the entire il ! This month the Government has some IOU’s falling due. For the first time in some time it is going to have to pay heavier interest on its loans. This is interesting = since it, starts speculation about what Uncle Sam is going to have to shell out every year to bondholders for the privilege of owing them money. There is one phase of this business which gets pretty much lost in the shuffling of figures in Treasury releases. For instance, it pointed out that although we now owe many billions more than we did before the depression we. are not paying so much more interest on the load. Back in 1930 we owed 16 billion and we paid $568,000,000 in interest. ~ Last year we owed 10 billion more but the interest was only $866,000,000.

Mr. Flynn

Interest Will Rise

But what concerns us is what the interest is going to be. Well, if is going to be a year or two or three, even if we borrow no more, at least $1,100,000,000.

The reason for this is worth keeping in mind. Back in the prosperity days the Government was naying 312 per cent on some of its money, but 4 per cent on most of it.

Since the depression, money has’ gone . begging. The Government, without any trouble at all, has been able to refund a lot of those bonds at around 3% and as low as 2% per cent.

Besides this, a very large part of t._. new loans are at very low rates. The Government has not borrowed on bonds, but on Treasury notes and Treasury bills—short term promissory notes which banks have been glad, enough to get, with money a drug on the market, at as low as 11%. Nearly seven billion] of these loans are short-term Treasury notes at short-term rates and another two and a half billion are at even lower rates. Accounting Time Nears

But this is all temporary. The time will come when the Government either will have to pay off these notes or refund them with long-term bonds. When that will be we do not know, but it won’t be long now. When that time.comes we will be paying at least 3 per cent on over 37 billion dollars and that will be at least $1,100,000,000. Here is the meaning of that. The Government has chosen the easy and dangerous road of paying for all its depression and recovery bills with borrowed money. We and the next generation are supposed to pay off all the costs of Mr. Roosevelt's recovery pregram. And until we pay it we have to pay out over a billion dollars a year interest on the loans, of which much over half will be the yearly continuing cost of the depression and the New Deal.

LOCAL PRODUCE

(The prices quoted are paid for stock gathered in the country, while for deiivereis in Each 101 ca the prices are 1 cent higher. Each Tull case of eggs must weigh 55 pounds. gros. ags—No. 1 Strictly fresh, loss off, 19¢

5 ibs and over, 18c;

Avy breed hens, eghorn hens, 13c; 1937 stock, 2 lbs. a 19¢; Leghorn broilers, 1937 stock, 2 lbs. and over, 17c; bareback broilers. 1927 stock, 5 ibs. and over, 13c: old roosters, 9c: | ducks, feathered ana fat. 5 lbs. and over, eese, full-feathered and fat, 9 to

ae ter—No. 1, 36%@37c; ‘No. 2, 34%2@

But 35c. Butterfat, No. 1, 31c: No. 2, 29¢c,

Libby MCN&L eevee 10 Lincoln Print ...eceee. 6% Lindsay Light sceceeee. 4 Lion Oil Ref .c.cceeeee Loudon Pack scececease Manh-Dear ....ecceeaes Marshall Field --aene: Cord d

sesseses

Mid West Corp Mid West pf Midland United Mid Un

Modine M Montg Noblitt-Sparks No’west Bancp Nor » Ut pr lien esses 50

r Pen 21 peabody Coal B. .. Peabody Coal pf erfect Circle .. Pines Wfront .. Potter Co vesne Prima & CO cocveecinee Process Corp Quaker O2Ls

—

rane Co Utah Ra dio Prod Utility oS Indus Wa. hl

yy sstsevessonene

a’ cs CO .ienseeese 36 0il-C-Mat «ccesse 8 15¢ BX Shrs .e.cceees 1 Radio sets RNNNNS 3b

is frequently |

ams 5 -

Crys Sug... Ene TC C

Am Am Am Am Rad & Am Roll Mill . AmRolMil cv pi A Safe Razor

Yoolen pf. ‘ Am Zinc ..... A ota Anchor Cap ... Apw Paper .... Arch-D-M ..... Armour III .... Armstrong Ck . Arnold Const ..

Atl C Line .... Atl G & WI 1 Atl G & W I pf

Auburn io Austin Nich .... Aviation Corp .

of 3 eas

Blaw-Knox

Posie & Botan . Bagopt Brass .. Briggs Mfg .... Bristol-My _ ....

llard Bond Stores Bulova

Butler Bros ... Butler Bros pf. Butte C Byers, A Byron Jackson.

Cal Packing .

Calumet & H .. Campbell Wy Canada Dry . Can Dry rts ‘wi Can Pacific Cannon Mills . Capit Adm A . Carpenter stl Larkiers % {Gent

Caterpillar

Celanese Cent Aguirre .. Cent Fewnaiy Cent RR N J Gent Viol Sug

ertain-teed hamp Papir .-

hes Cor & Onis”

hilds hrysier = ty Stores ....

20000000000 0080000099339¢ or SEEEoD E

Colum Gas

Com Solverits x 3 Commonw & So

Cigar Ojga

Con RR Cuba pf Con Textile ...

heavy breed proilers, |. Te

Cutler-Ham

Davesa Sirs ...1 Deere & C ... A}

of ...

Doe in Dw Chem Presse 53 ® ot ‘ Bip lan Silk A n ay Du’ nt

East R Mill ... Page Bodak

Etmaon Sch po: 2 Elec Auto-L .

Eureka Vac ... Evans Pr . Exchangs Buf.

Pair Morse .... Fajardo Sug ... &

Fed Mos

Fed: Screw XL

Black & Decker 2 }

Ww Buriing ton Mills ugh 24

3 llahan Zine . % Lalla 12% . 26% 19 3

‘437g 11% 2g

. "140% Caterpillar T 5 pf ne

Col Pictures oie 10% C t

C1 Del & Hud ... 26 D Lac & W ... 11%

: 3 2. 60b. 103 2

NEW YORK STOCKS

High

. 223 \d dressograph . 2% ‘Adv _Ruml .

Atchison pf ... 93

Rb)

BIKE BIW

101

Bs ho C3 i a

No -

«30 Bom =1 a

erro de Sue . 63% : - 43% 4

55% 5

Commonw So pf 47% Nairn .... 32

vival Aircraft. 13 a ‘pf. 5

A 1 ... 682

1% 1 3 an 25 17

3% s 18 i 103

22 3

lize

43%; 42 43% 43%

10044

: Net Close Change

Sosa BeBaBaETRE FF

— w

Es »

TEE

PELE PE

P+: st er LL

Hel EL PE PE)

Sy Jit i rb Rl - : ea

Tame SF . -, FESS SKF

Pb BND pb a SR a

Eons anginal

Fl+

+: +

fires

- a>

. . PADI to =

8 3

IN Y ip... Norf BL 0

—38y United Pres:

15 Most ACTIVE ‘STOCKS

Net High Close Change Radio 9% 9's U S Steel ..... 95% 93% Com & Sou ... 2's 2 Gen Motors ... 50% 485% Chrysler ....... 97% 94% N Y Cent ..... 28% 273% Par Pict '...... 183% 17% Graham Paige... 23; 2s Rep Steel ..... 302 29% United Corp ..- 44 4 Curtiss Wright.: 43% 4! Anaconda .. 501s 49% Packard 4 9 Yellow Truck .. 1614 15%% 15%

Pure Oil ...... 163% - Transactions approximated 1,400,000 shares, compared with 230,000 shares yesterday. Curb transactions approximated 366,000 shares compared with 55,000 shares last Saturday.

Low SU 95% + 2% 21s 50 9714 2858 1814 212 30 41% 438 4938 1 16 16

vos

Net Last. Change. 2%

High. 27 . 28 Ye

. .

Fed Wat 3a . 2% t .. 8

pose x

restone T . 28Ys restone pf A 101%; rst Strs .. 37% inkote Co.

27% 101% 37% ui 21 orence Stove .

ae i a

40 2%

Francisco Sug. . "reept-Sulphur

+ Fill +

6Ys 25

» @

Gabriel A ..... Robt ..... 9% Wood Ind. Am Inv ... 11 Am Tr ... Baking ... Bronze ... Cable vs

-.a >

a FEF

a & o

cigar’ ..... Electric’ oe Foods .... 3 G&E Mills ... Motors ... Motors pf. 114 Out Adv .. Pub BY aes Lh y Sig. 2 19%

Hb Lr oo

Lol

Cle oo go

Rty & U .. Refraty ees 4 & R

i444 +s 1 +] oat

Goebel Brew ... Goodrich ...... Goodrich pf ... -7

Graham Paige. Gran . Sana Union .. Grand Un pf .. Granite C 2 Grant WT .... Gt North pf ... Gt Nor Ore .... 17 Gt West Sug .. Green HL .... Greyhound C 12%2 Greyhnd 5% “pt Sus 1f Pt obi &N u obile&No Gu M&No pf.. 3% 31%a —H—

10% 10% 36: 6

9 2%

Howe Sound ... Hud & Man ... Hudson Motor: . Hupp Motor ...

[11 Central ...

] : Ind R 0Y2 in Pty "Rand 117 ] a c 1s hap ratn vs RT » 5%

25 427% 37

- 3% 20Y2 14% ode

4Ys, 62 abt 106 a_i Sou .... 12% Kan C Sou Rt: . 31 Kaufman D 26% Keith-Al-O pf 2 Kelsey-Hayes B. Kennecott

ntertype

Jewel Tea Johns-Man

Kan C

Kinney . Eresge SS .... Kre aa 30 Kroger’ G & B. 19% 18% 17% : 18% 25Y, 1%2 8

+1 ++]

92 ] a ; 32; Lerner .Strs .... 3 8 Libby Mc & L.. L-O-F Glass .. 57

BO=Tna WB ~IBI COI OKs 0

351% 38% 39% Ya

COWW

103 -

Sug an El To gtd an Shirt gracaing Ex .

arshall Fid .. artin .e artin Perry . asonite Corp

a Ya

REESE

SEIS ad eo 2.

+H HE +l: oe

rH — Nas

aw . cIntyre Porc. cKesson 1 cKess & R

cLellan St ... ead Corp 21 Mengel . ... esta Mach .. ami Cop .... dent Pet .... dland Stl ... 3

Smet Cd = 3 mt Po od £3 fd fd

nal 3

LO LIDI = ON

igsion Corp’ . o-K Tex pf . ve

o-Pacific ... 0 Pac.pf ohawk’ op Seas

= 8

LINDON

cam oe

ullins Mig ... unsingwr UITAY «.>evse. yers & Bro...

pitt, +

NasheRely esses eme

BD fda WR

Sud pd DI BS

LEI eR

WC B3

FEieles be): +4

C0 obo pt pt

als rs 23 . NH & H.... 30 NY NH & H pf 8 NronEw..

oe a % . 0 Am A No Pacific » esas Norwalk T .... 3%

Ohio O11 ..... Oliver Farm Eq Omnibu

9% + %

FER

FEE SI SS

Net Last Change. 31% + 1% 13% + %

High 323% sess 15%,

lass. 8874 a

Otis Elev ...... Otis Steel Owens mG

Pac Am Pish .. Pac G & El Pacific Lt dacific- Mills... il .. 18

7 i | annandle Yeses Para 1 dara net y ‘pf ‘1280 Para Pict pf 16 Park Park Utah Parke Davis elee

16% .. 28% 38% 20

Penn enn. “Coal & C pon D Cem .. : enn RR... a!

DIoples Gas .. Co: Am 1 re ffer-Brew . 6

he EES

Gann Sa.

BEES

. .

- =

HMENEERS

Fil I |

COUT CY

ess dress Stl Proctor & G Public Se Pullma, Pure : Pure Oil rts

u Purity Bak

o Arta | BORER RR

Reliabl 020 or aple- re Reliance. Mf < Rem Ban

ot os Republi c Sti... 30% Republic_Stl of 104 RepublicStintA 100 Revere Cop ... 26 Met

rr th MIO OD) ddd Se Nalater

> >

| 14+ \ —- OER YR

age C. ley Dist * ulte R .. te pl... ‘2 bd

Air L . 11 1 Air L pt 3% bd Oil

tl +t

MIMS CORN LIND 3 «

Spiegel Inc .... Square-D-B ... Std Brands .... Std € Tob

Talcott J ...... Tenn Corp ..... Texas Corp as Poxat Gulf Prod I Sul 34; a & P

id ia hird Av RY ... hompson Pr .. omp Star homp Star pf 13 de W

m mken ransamerica .. [rans West Air [rans & Wms.. 1 ‘ri. Cont Cri Cont of .... [ruax Tra Fruscon Stl ... 13 90th Cent Fox.. 31% Twin Cy RT .. 6% Twin Coach oo 15%

rie tebe te be be fee be fee Lr

war: 20 RB .. 57 13% 97% 2

IH HEHEHE HEHE EEE 3

k HA Air Jae: Biscuit .

Un_ Carbon ... United Cop . United Cp pf..

United Drug ... Un Dyewcod A

& Fy.

Eng 2d Cru yas Im 1 Sas ny ‘pf. 10! Pa

. seen

P&LA 1%

—V—

Vadsco Sales .. 1% Vanadium . 512 Van 2012

yan Gem 1. xe; 201 em hVa-0Ol age ch’ o gr

Va-Car

Wabash ...... Wabash pf A..l Waldorf Sys ... Walgreen ..... Valker a 2 ark Bak B /arner Bros .. Varn-Quin ... /arren Br .. Jaukesha Mot. Jayne Pump .. 39 Veb-Eisen ‘ es Oil & S Jest Auto Sup. est Md

rest Md 2 ot . est Pac

3% 5%

post Pac ot’ Union vost Air Be

esting eston

43% 32 131%

-171

Seeds 3gsg3ass

3 aaa

- ne

- OS tpg ete ESS

dAdAdlLl

—-

3s hte Sew. Nook 2% 1cox Ison 2.00. oe 3 jworth ees 4 eo 30%

00. yorthin Vheel Stl "or vf 82

FEE LL ER LL ELL

COC es MaRS

Young 8 & ‘Ww Young Sheet oe 1% aE Zenith Rad .... 334

NFR

++ HH -- as

u. S. STATEMENT

WASHINGTON, Sept. 11 (U. P.).—Government expenses and receipts for the current fiscal year through Sept. 9, compared with a year ago: : This Year Last Year Expenses $1,437,368,548.33 $ 1, 11, 424,130.26 ents. . 1,005,023,814.63 733,824,194.94 Deficit 3 38. 32

"4 2, 344,733.70 Work. Bal, 1,086,793,692.83 1, 333,921,0 Pub. Debt 37, ‘H0.443.610.95 33,360,128; 97 Gold Res. 12,617,222,931.29 10, 1736,487,762.79 Customs .. 89,472,487.61 75.179,128.82

ay’s Pur. Total Pur. ‘Inac. Gold $13,220,446.06 =$1,385,761,102.51

1 Rec De t-

INDIANAPOLIS IS CLEARING HOUSE $ 3,204,000 teieesss 8.913.000 Santi ie

Home ... ... ‘Ehoenix Fire

LIBERAL RUN OF HOGS SELLS AT STEADY PRICES

3 Loads of Prime Steers Bring $18 a Hundred To Close Week.

A fairly liberal supply of hogs cleared at steady prices here today, according to the Bureau of Agricultural Economics. Sellers tried for a further -advance, but buyers, having paid a 60cent upturn in the last three days, balked. Top held at $12.15 on

| choice 210 to 225-pound weights.

Sowg_ were fully 25 cents higher, bulking from $10 to $10.50, with $10.75 the practical top. A few smooth lightweights reached $11. Compared with the close of last week, hog prices were 60 to 75 cents higher, sows showing the maximum.

ains. s Cattle Gain in Week Three loads prime 935-pound steers sold today at $18, strong with the week’s advance. Compared with the close last week, killing classes of cattle are mostly 50c higher, sqmetimes. 75¢ to $1 up on heifers and in-between grade cows. The week's top of $18.25 went to an individual club yearling steer scaling 1185 pounds. Vealers are 50c to mostly $1 above last week’s clase, with the late top $12.50. Replacement trade showed little change during the week with only moderate activity. Today’s trade was quoted nominally steady. Compared with the close last week, slaughter lambs are 25 to 50c lower, good and: choice grades showing the minimum decline and a tendency toward recovery late. ' Sheep were .unchanged. Closing top an choice ewe and wether lambs was $11, but most of the crop was of quality selling between $8.50 and $10. Late top on choice slaughter ewes was $3.25.

HOGS Receipts 1000

11. 80@12. 15

Light Lights— §140-160) Qood and choice. hi 73011. 90 um .

[email protected] Lightweights (150-180) Good and choice... [email protected] Mediu [email protected] (180-200) Good and choice. . Mi G12 10 [email protected]

[email protected] 11:[email protected]

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

ereeensess [email protected] Till [email protected] . [email protected] [email protected] . [email protected] [email protected]

Medium Wei Moa (200-220) Good | and (220- 380) Sood and HearIweisn 50-290) Sood and 290- 350) Good and Packing

choice. . choice. .

—Receipts, 125—

Steers

(550-900) Choice .......... -$ X Good .

C (800-1100) C

C (1100-1300) re

Medium eessssases Plime

(1300-1500)

12 300 15.50

14:00818.00 11. als. 6.50@11 30 11:[email protected] [email protected]

(550-750) Sond

(7150-900) Sonn a choice. . Co

mmon, medium.

Good 7.00 5 Common, medium 5.50 .00 3.75 50

a | Low cutter and cutter .......

Good (beef) X Cutter, common and medium. 5.

Vealers —Receipts, 25—

Good and choice ......... 2-811 ais. 50, Medium [email protected]

0 00 0 7.00

Calves (250-500) Good and choice . [email protected] Common, medium. 6.50@ 9.00 Feeder and Stocker Cattle Steers (500-800) Good | ang choice. . Com medium. (800-1050) Good. nna choice. Common, medium. Helfers—

Good 2 and choice .......... Common and medium .....% hao

fa 03

22 2w 2233

hin Shad Cg ®0s 38 3 2833 3 09 0898 os Sm 0

00! Common’ and medium SHEEP AND LAMBS —Receipts, 100— Spoing jambs

Chole cisesssesssssessssssens Medium Sommon Shorn (90- 1s ® Good and choice... ommon, medium.

ess00sss8 sss 0 ssn

ae ny

CHICAGO, Sept. 11 @. Pp). —Hogs—Receipts, 2100, including 1800 directs; markt,

Today

“N. . Bonds

By.Tnited Press BOND PRICE

20 Indus. sesssss %00.2 Yesterday ..... 90.3 Week ago ..... 91.5 Mornth age .... 92.0 Yezr ago ....., 92.2 Twi) year ago, 89.5 1937 high ,..... 93.0 1937 low ....... 90.3 19335 high ...... 94.8 1938 I0W <..v... 90.0 1927 high ..... 924 1935 low . 83.6

x86.2

101.2

100.4

INDEXES

20 20 G0 Rails Util. Bonds 99.2 x91.9 99.2 92.0 100.2 93.6 102.0 93.1 105.9 98.6 101.5 90.9 106.0 100.7 99.2 92.0 106.2 100.2 103.5 93.3 103.6 93.1 89.3 23.0

86.5 89.0 a1. 97.7 81.6

86.5 84.7

86.4 v1.0

New 1837 low (Copyright, 1931, ‘Standard Statistics Co.) 10 MOST ACTIVE BONDS

Close CUMStP&P 5s 2000 5% Gi Nor 4s G 46..114%4 CMStP&P 5s 15... 17% NYC 3%s 52 .... 99% Pa RR 3s 52 ..100% Fud Coal 5s €2.. 39% 34 Ave 5s 60 ads 9 Chi N W 4%s 49. 1033 Stude 6s 45 StL-SFr 3s 50 B. 17

Net Month Year Change Ago Ago 83% 84 130%; 118 25% 22% 107% ..... 106 16 16% 116 22%

50% 38 15% 114%

sess

—-

essen

Bond transactions approximated $5,480,000, compared with $2,031,000

last Saturday.

U. 8S. ® Treasury

1960- 55 ..

U. 8.

September 3'4s 1937....100.0

Februar March June as

2%s 19 1938

193 - eptember 22s ‘1938... December, LR e+ 10

s 1 39 101 ‘September ho 3s 1939 ... 3 3033 oie

Dece mber.1

September 2s 194d

GOVERNMENT BONDS

Bonds Close 5.6

Certificates

Rid Asked

00.28 1.12

- CODOSSSSS=OS Err CAO CD het SD DD if pet C0 pps bt et J BD BD 1-3 =. aw OOH Moe DIDI" NOTIN DN

- Oia renin in in Lad

$1 1 td od ft ot pt pt DNROODNOUU CI me

A ®

Federal Land Bank Bonds

July 1855-45 Jan. 1940.18 .e

seine ih

Yas Nov. 1058-38 .

Bid Asked Yield .100 100% 2.96

101% .100% 111031

Federal Farm Mortgage Bonds

3%s 1964-44

wavarsaines 102.4

102.4 102.4

Home Owners Lox Bonds

11%s 1949-39 ds 1952-44

DOMESTIC

Abitibi 5s 3 oh sosins Alleg Corp 5: al $i strs 3s "50° s 2030. . Arr deb tas “43

9.31 100, 19 101.16

99.27 99.27

101.19 BONDS

Close 862

88 992

High Low . 86% -~ .88

Anaconda 'C Blas wr

Bush Ter 3s Zan Na Ry 5s Oct $3. ‘Can Pae deb 4s perp. Cen Pac 55 60 Shes & Oh 3%:s 96 Ch & O 3's Chi Bur Qu 5s 71 Ohi East 111 5s 51 Chi In Lou gn 6s 66 .. Chi In Lou gn 5s 66 . Ch M St P&P 5s 2000.

3u R&P con 5 Bs 51° .

Chi W Ind 4%s 62 ... Chi W Ind cn 4s 52 CCC St L gen 4s 93 Clev Un Ter 5s 73 . Clev U «Col So

Col E 5 Ma, Cons Oil 310s 51 ...

Cons Edis 3'2s 56 .....

Con G N Y 4'%s 51 ....

. Consu Pw 3%s 70 ..... Contain ‘or 65 46 sens [381%

McKe & R $s ’50 . Mo K & T 1st 4s 90 . Mo Pac sv Sas 49 S ;

125 A YCStL Es C18’ N¥Dock 5s 38

nominally steady at $12.15 for top weight Pa

hogs. Cattle—Receipts, 1000; calves, 100; merket, steady; heavy steers, 50c higher;

earings and light steers, 50@75c highers ‘Ph

ight hei fer and nized Starnes, 50c@ $1 high er; cutters, 2i@ a hulls, 15@25¢ 4 Digher l for week; i steady; Ped high on steers, Second high est Septem or price on record; next highest, $18.60; ‘he S

er i $ Rae Dice 19000; market, steady; spring 1a lambs se 50c lower; sheep, fully 25¢ dow! week; week’s soring lambs top, $11; earings [email protected].; Saushter ewes, $4; feeding lambs, $9.75@10

FT. WAYNE, Sept. 11 (U. P Mostly steady: 200-225 lbs, 250 75; 180-200

140-150 1 120-130 lbs. $10.15: 100Joughs, $9.50; stags, $8.25:

275- . [email protected]; 150- 1bs.. $10.75@ 130- 150 ha oy $10. 25 10. 50; 100-130 1bs., $e. 50 @10; Tous 2 5 $10.25 down. Calves, ¢11.

BANK STOCKS

By United Press Bid Bank of Jenhattan . easssnsnee 28Ys

an 61%; Bank of nN Y rust seessse..s.448 Snir ral Hanover sessiieenees 118 Chemical oe Commercial Continenta 1 oom Exchange

pire . First National . cessssnce ve Guaranty eenereeesesseserine.202

on @ wR

= a

=) At = - A OCT Ba CANAD. 00 1560 00 1m ICD 03 03 TH OV 1a 163 mt cas so We

n tesssessescseses Manutacturers sssssse National City . s

- a

igen ay AA

Title “Guarantee aie INSURANCE STOCKS Aetna Fire Aetna Life .s Connecticut General .

Continental Casualty Firemen s of Newark Glenn Falls Fite ... Great American ... Bartiord Fire ..

coe ssvesscssssse

Sun Life Sei Travelers ...cce.cee Westchester Sessa esetsatdrn A

“STOCK SEAT SOLD

NEW YORK, Sept. 11 (U. P.)— Arrangements were completed tfoday for sale of a membership in the

| New York Stock Exchange at $75,-

000, unchanged from the previous

transaction on Sept. 1, which ‘vas

336.000 the lowest; singg. April 9, 1935,

Philiprine R 4s 37 Port G E 4s Postal T&C 5s 53 St LSP 4s 850... ue Seab Air Lin 6s 45 ... hell Un O 3s 51 ... oc Vac 32s . 8 Pacific ae 81 .... So Pacific 4-5 68 .... 125 56 ..... 56

Ry Wabash 514s A Warner Bro fees W Mary 5'%s ™ le West Union Ii 60 Young S&T 4s 61 FOREIGN Argenf, 4s '72 AuStrana

Peru

+s 18 . 57%

cess

..103 13% 53 A17Y% - 95% 89%

. 10%

.. 10

.100%2 102%; 00

Ya 103% 108% 101%

012

bd beh NON

od ph ODD I ir DO DNR INI @ On a \

nN LR Fac

. 18 %

[XY —-

Pd ph fd fn fd fk fh fb [= DINO

8 . 8%

: 29% 105

87 . - 3 Ya

BONDS

64 16%

COMMODITY PRICES

(By United NEW YORK

Press) COTTON

High essessaass 9.03 8

May Teasers orsunny Snot, "9.17. oft 8 NEW

go 9.05, Pane:

22%

November ... October .....

Q | # eT gs

ORLEANS coon

vovOO® WOO 82223

qa > 855%

High' Low Close

33% 22%

% No. 2

SAFE DEPOSIT BOXES

% The Indiana Nati

ho Indianapolis

* ional Bank

SUES BY LIVES

INSPIRE DROP IN

CHICAGO GRAINS

Corn Declines Despite Drop In U.S. Estimates on 1937 Crop.

CHICAGO, Sept. 11 (U. P.)— Liquidation led by Eastern longs forced a rapid decline in wheat prices at the Chicago Board of Trade today, and sharp losses were recorded before a little support was met. At the close wheat was 2% to 278 cents lower, ‘September, $1.03%; corn was 1% to 2% cents lower, September, $1.02%, and oats were % to 1 cent lower, September, 307% cents, Bearish factors were the easiness at Liverpool and a drying up of export demand for North American wheat, which competition from Russia has notably diminished. Favorable crop news from the Southern Hemisphere also jarred traders into releasing their holdgs.

been estimated at 188,000,000 bushels, according to the Govern=ment report, while that of the

~ Scattered commission house and local selling were responsible: for weakness in corn which concen=trated largely in the September contract. The action of wheat counteracted the official estimate of the corn crop received late yes terday and showing a total 75,000,« 000 bushels under private estimates,

CHICAGO GRAIN

RANGE

Prev, : High Low Close Close Wheat—

Corn— 1.007% 62% 637%

1.02% ie 1.05% .62%b .63 64%.

30% .30 JY

30% ten

sss sven sesesese

19%

Sept. ceevsees Dec 1 a1%

Dec, secescee May Soy Beans—

Dec. May

Lard— Sept. Oct.

94, 95%

sssasssse

sssesene

ran 10.47 10.45 10.52

a-Cash, ~ b-Bid. CASH Wheat—No. 5 red, 90 Vacs sample grade red, 85@90%5c; No. 2 hard, $1.10; No. 3 hard, $1. pa; No. 4 hard, $1; sample grade o. 4 mixed, $1.04; No. 5 voc; sample Frade ‘mixed, 178¢c; ‘No. $1.04%; mixed grain, 84c, xed, $1.02; No. white, white, 34c; No. . 3 white. 32% @32ac; , 32¢; No. 3 mixed, 32c. Rye— Barley Feed. 46@ BoC: Si Beans—Unquoted, 2.50. Cloverseed_Casht Provisions—Lard, 50 3 $10.82 hominal; leaf, i .50 Bominal; bellies, $16.37 bid.

* LOCAL GRAIN

CASH

Wheat—Market, weak; receipts, five carloads; No. 1 red, 971. @99%¢c; No. 3 red, eam: Yash No. 1 hard, 97Y2@99%c; No. 2 hard, 12 @98%zc. Corn—Market, weak: receipts,” 11 carloads; No. 2 whit 99¢ @$1.0 1: No. 3 97@99c; white, Ssa9Tc. No. 2 yellow, 97@99¢; 3 yellow, 95@97c; No. mixed, 95@98c; 95c; No. 4 mixed, 91@gsc. weak; receipts, 20 oads; 2 white, 2812c@329%¢; No. 3 iy Sagas ic,

mix

. WAGON WHEAT in elevators are paying for No cuy §6c; oth her grades on Thor merits, Gash corn, new No, 2 yellow, |91c. . Oats, Ce

WINNIPEG WHEAT '..$1.26% $1 HEA §1- 243 $1. 1312 1.23% 1 2

25% i 357 i 23%

LIVERPOOL WHE? Prev,

Fh sseeer 8] 277 $1. os 5 £7 faiaes-128%a 1.27133 12 7 savers . 123% 12 1.22% + 1.22% ARGENTINE NTINE GRAIN AIRES, Sept. 11 (U. P.).— opened Thchanged to frace tionally lower. fn eat—September, $1.27%, LL) 5c; November, $1.20, off Vac. September, 547sc, unchanged; November, 51,c, unchanged. Oats—Spot, 28%c, un= Dae, Flax—September, $1.33%, une changed; November, $1.33, unchanged.

LOCAL ISSUES

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

he. ‘124%

UENOS Grain futures

Ask 103 106 106% 106%a 100

Bid

Citz Ind Tel (TH) 4s 61. H Tel & Tel Ft W 5%s_55 1 Tel & Tel Ft W 6s 43. Ind Assoc Tel ays 65 -. Indiana Tel Co 5s 60 .. nd Railways Inc 5s 67 ....... ndpls Water Co 3'2s 66 Interstate Tel & Tel 5'2s 53... Kokomo Water Works 5s 58 . Morris 510 Stores 5s 50 . Muncie Water Works 55 65.. Noblesville H L SE 62s 47.. Dhio Tel Serv 6s 47......... ..100 Pub Tel Co 5 Bs rive sieves

101 103 Va .104%2 0

[rac Term Co 5s 57 aay ‘STOCKS

elt RR St oy om. secsnsnes D1 Lds pfd .... « 51

xIndpls Pwr & Tr Pp fd 6s . Sinpdls Pwr & Lt pfd 6%s.. Indpls Water Co pfd 5s incoln Natl Life Ins Co com Mallory d | Pub Serr co Pai 84s. d p . 21

Smith Alsop Smith Alsop P&V c : ‘Terre Haute Elec So's 65..c0000s Union Title Co com ........ Van Camp Milk So pfd ....... 43 Van Camp Milk Co com....... 11 xEx-dividend.

(By M. P. Crist & Co.) Market St. Investing Corp .. 30.97

CARLOADINGS NEAR 1937 HIGH FOR WEEK

WASHINGTON, Sept. 11 (U. P.). —The second highest carloadings for the year were reported by the Association of American Railroads today for American carriers in the week ended Sept. 4.

TRUST COMPANY

memete FEDERAL DEPOKT INSURANCE CORPORATION

The wheat crop of all Canada has :

western provinces has been set ab | 169,600,000 bushels. :

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