Indianapolis Times, Indianapolis, Marion County, 14 September 1937 — Page 14

Prot: i Fails| To Halt Advance Of Stocks.

~NEW YORK, Sept. 14 U. ~ P.).—The stock market to-

day more than made up its.

losses of the previous session in moderately active trading. . Leaders showed gains rang-

. ing to 8 points. . . Bonds followed stocks. U. 8S. - Government issues continued to “gain. Grains were higher with 3 wheat up more than 2 cents a ' bushel. Cotton futures gained about {5 cents a bale. | The stock market started with broad gains, ran into profit-taking ‘and esumed: the rise with such : vigor that shortly before the end of s the st hour the tape was. several * minu es behind. Then traders re'duced their commitments to see how < ist would absorb margin selling ted in the second hour. It was without difficulty and the et held steady in reduced e. : ghest priced issues made widegt ronnie, Deere rose 8 points, du

~~ Pont 6, Case 6, American Can 7%,

- Chrysler 4%, U. S. Steel 4% and * Coca Cola 414. Steels, rails, utilities, “motors and special issues were 0 swe, Government bonds rallied “after a hesitant start and advanced © 1-32 to 8-32 point in active trading. * Turnover for the group approximated one million dollars in the first _ hour. Domestic corporate bonds recorded impressive gains, trading in- . terest centering in rails. Industrial shares climbed a point to more than 6 points pace a ~ strong Curb market. Niles-Bement-.Pond soared 73 points to 503%.

FIRST HOUR

The market opened strong, dipped on profit-taking and then started a strong rise that forced tickers as much\as 2 minutes late. Chrysler went to 5 for 5% gain sand General Aid was almost 2 ‘points higher. U. S. Steel reached 971 for 4! gain, Youngstown Sheet & Tube 72% for 434 gain and Bethlehem Steel 83% for 4% ain. New York Central and tchison led the rails, each gaining more than 2 points. ~ Montgomery! Ward jumped “ more than 3 points. Anaconda * was almost 3 points higher and American Smelting had 3 points + gain at 81%: Deere & Co. gained . 5% to 108% land J. I. Case had 5 ‘points gain at 145. American Can jumped 7% points to 100. . | Volume approximated 490,000 : shares compared with 410,000 in the ~" “Srst. hour yesterday. Dow-Jones ~~averages: Indusrtial, 162.31, up ~ 4.31; railroad, 41.69, up .92; utility, 2 24.93, up .54. : SECOND HOUR

| Prices recegled slightly from their “ highs as trading quieted. U. S. Steel dropped back to 8612, main- . taining 3% gain there. Chrysler at © 991%, was 4% higher. Case moved up to 147 for 7 points gain, International Harvester had 22 gain at 96 and Deere & Co. was 8 points higher at 111. Oils were in demand, . Amerada gaining 3 points to 75, _ Phiilips 41%, to 55, and Texas Corp. 2 points, to 52. ‘Rails quieted os maintained advances. Volume approximated 340,000 'shares, compared with 460,000 in - the second How yesterday. Doy Jones averages: | Industrial, 181. 7, up 3.97; iene 4177, up 1; utility, an, up 37. ® s 8

eT oday’ s Business At a Glance

GENERAL BUSINESS

« Dun & Bradstreet reports holi-day-week ended Sept. 9 business failures 96, lowest in 17 years, vs. 151 previous week and 110 year ago. * Oil & Gas Journal estimates week ended Sept. 11 crude oil output averaged 3,626,129 barrels daily, off ~ 52,123 barrels from preceding week. Advertising | Age reports week ended Sept. 4 retail advertising placed in newspapers of 80 major cities 20,239,516 lines vs. 20,422,736 year ago, off 9 per. cent; year to ate 692,407,058 lines vs. 659,855,311 year ago, up 4.9 per cent. National Lumber Manufacturers Association reports week ended Sept. 4 lumber production by 513 mills 249,296,000 feet vs. 275,843,000 feet by 572 mills previous week; shipments 226,898,000 vs. 233,950,000; “booked orders 199,911,000 vs. 230,683,000. : Window Glass Manufacturers’ iation reports August window production 1,351,948 boxes nting 834 per cent of in-

| } § y {

81.3 per cent in July; first eight niths production 9,132,010 boxes 70.3 per cent of capacity.

' CORPORATION NEWS

G. Krueger Brewing Co, six onths ended July 31, net profit, 91,006, equal to 76 cents a share $408,885 or $2.04 year ago. Oklahoma Gas & Electric Co., 12 nths ended July 31, net income,

2 -CENT DOLLAR SEEN BY BABSON

Public Debt May Be Wiped Out, He Tells Boston Businessmen.

BOSTON, Sept. 14 (U. P.)— Economist Roger W. Babson warned today that ‘the chances are 6 to 4 that we are headed toward a 20cent dollar.” “Inflation or repudiation” may be resorted to as. a means of wiping out huge public debts, he told the Boston ' Chamber of - Commerce. Mr. Babson, who predicted the 1929 crash, said, however, that “for the next year or two at least, the favorable factors far outweigh the unfavorable factors” for better business. “General business is bound to be better this fall than last fall. Farmers, wage-earners and stockholders will all have more money to spend. I am forecasting no boom; but I do promise business improvement. » When the Federal Reserve Board and other Administration agencies “give business a crack, as they did this spring,” he said, “they really prolong the current period of prosperity. You-can retard the flow of water by a dam, but this dees not destroy the water.”

Bonds Declining

“We are in a gradually declining bond market. . . . People who are now buying certain low-rate issues are crazy. . . . Money rates will gradually straighten. The price of money . . . always has gone up and down. . . . The laws of action and reaction are far more reliable than the laws of Congress. “As to stocks . . . if the country enters a period of real inflation, the bull ‘market has only just started. Although the present technical reaction may not have run its full course, it is very dangerous to go short on stock today.” He was “optimistic” about the factors of politics and labor. “Congress,” he said, “is at last no longer an echo board. The New Deal is a at] last being questioned by the Democrats themselves.” John L. Lewis “has been enjoying a bull labor market; he may quit in time, but the chances are that he will over= stay. . . . Buy more labor-saving machinery. Collective bargaining is here to stay, but not long labor con-

elegraph Land Lines net loss $432,179 vs. ago; seven months net loss, $1,786,039 vs. $948,573 year ago. Union Premier Food Stores Inc., four weeks ended Sept. 11, sales, $1,007,325 vs. $665,808 year ago, up 51.3 per cent, 36 weeks $8,834,062 vs. $5,577,835 year ago, up 58.4 per cent. ‘Mengel Co. August bookings, $663,812 vs. $851,601 year ago, up 12 per cent; 8 months, $7,555,232 vs. $6,242102 .year ago, up 21 per cent; August billings, $1,026,405 vs. $880,359, up 16.6 per cent; 8 months, $7,447,313 vs. $5,985,124, up 24.4 per cent; unfilled orders as of Aug. 31 totaled $1,971,568 vs. $1.604,831 year ago, up 22.8 per cent.

. RAILROAD REPORTS

‘ Atlantic Coast Line, first 7: months net income, $3,144,319 vs. $1,423,266 year ago. Baltimore & Ohio Railioad Co. week ended Sept. 11, carloadings 30,991 vs. 34,657 previous week and 30,835 year ago. Colorado & Southern Railway Co. first 7 months net loss, $199,017 vs. net income $59,717 year ago. Delaware, Lackawana & Western Railway Co. first 7 months net income $365,037, equal to 21 cents a share vs net loss $653,484 year ago. : New York, Ontario & Western Railway Co., first T months net loss $769,003 vs. $68,417 year ago. Tennessee Central Raiiway Co., July net income, $15,605 vs. $24,974 year ago; 7 months $46,813 vs. $67,200 year ago.

DIVIDENDS

Aetna Insurance Co. regular quarterly 40 cents, payable Pet. 1, record Sept. 15. Ainsworth Matutecticion Co., 25 cents on common, payable Oct. 1, record Sept. 23 vs. like payment on July 1. 9 Apex Electrical Manufacturing Co., 30 cents on common, payable Oct. 1 record Sept. 20 vs. special $1 on Dec. 21. . Phoenix Insurance Co., regular quarterly 50° cents, payable Oct. 1 record Sept. 15. Pressed Steel Car Co. declared full year’s dividends—25 cents on first preferred, $2.50 on second preferred and 25 cents on common. Payments are to be split as follows: First preferred, 18% cents payable Oct. 20 record Sept. 30 and 61% cents payable Dec 6 record Nov. 20; second preferred, $1.87% payable Oct. 20 record Sept. 30 and 6212 cents payable Dec, 24 record Dec. 10; and common of 25 cents payable Oct. 20 record Sept. 30. Initials on first and second preferred were paid Dec. 9.

‘ (Copyright, 1937. by United Rross)

Am & F Am&F Bs

Am Ice Am Am Am Am T & T Am Zinc Anaconda

Artl loon Atl C

Case Ches

City Stores Clark Eq

Colgate-P-P Col & Aik

Colum Gas Com Credit

Commonw

Container Cont Can

Cont Mot orn Prod

Crown Cor:

Curtiss-Wr

Mine

El Pw Elk-H Coal Erie

d Dep St

L.Gen Am Tr .... Gen Cable ..... Gen Electric ...

Hat §Corp Hts Bdy

nh Central Rayon

oger

Lorillard

sent actual

base

‘Hook Drug. xind EM

Pub

Unlon Title

Lin Atl Refining oe

Cont Ins ....

Crown Zeller .. Cub-Am Sug.. Curtiss-Wr ..

Fajardo Sug ... e FA

Firestone T .... Fintcote Co ...

The followin

Alleg Steel .. Allied Chem ... Allied Stores .. Amal Leath .. Am Crys Sue - oe

Am Ene Til Pwr

2 pf 14%; L. 3%

Stores .

Armour Ill .... Armstrong Ck.

. 36 24%

Bald Loco :

yg Zoundry.. & Ohio..

Col Broad .... 21 Col Picties vte

Com Solvents & So

saa 33 Cont Bak B.... 52

31%, 1% ee 59

Grane Co ol Pt. 10742

i 7

Ya A.. 15%,

pf WW 194s .. 37%

.. 41% 146%

NEW YORK STOCKS

Last 25%2

206

14%

6Ys 107% 59 18

41, 14%

—F—

East Kodak .... Eitingon Sch .. Elec Auto-L....

pf.. 10

E: 12 Eureka Vac ....

—F— 437g

28% 21%,

54 1%

Hecker Prod |

pf. Hudson Motor . Hupp Motor ...

In Inspiratn Cop . ter Rub

_O-F Glass. Li eve

Ludlum Stl ....

Maison a G. RUE 1 LOCAL ISSUES

(By Indianapolis Bond & Share Corp.)

quotations do not repre-| N or offerings but merely | N

bids

Works 6s 4!

Co 5s 57

Ans som oe

P R Mallory c N Ind Pub Dery "Co pfd 5%s.. N Ind Pub Serv pfd 6s N Ind Pub Serv pid Ts Progress Laundry Co com 66.. Serv 0 Ind pfd 6s Pub. Serv of Ind pfd 7s .. Smith Alsop P & V pid . . Smith Alsop P & V com ..... Terhe Haute lee = 69 <eoe.. 97

Co ¢

21%

17 2%

indicate the approximate market on yi Pana selling inquiries or

cent transactions. Te BONDS

4Ys 61

en v.20 Van Camp Milk Co_ pid. nese 48 Van Camp Milk Co 11 xEx-dividend.

(By M. P. Cris Market St. Investing Corp. .

Fit HERE IE FEE RHEE

Bid . --100%2

Net Change ay

CI BEC

. "air 0. ato

BERET Bee EN

Le a 3 S@ ea

PE HEE HE] 1 a pay 5 SET Fae

! -

LH Na

oem $=. «J RESET

Te Eee

Ph ph fh ft + aa Ea

Cd al NS oo

ais o

level

Ask 103 106 106% 106%2 100

PRICE INDEX AND COMMODITY QUOTATIONS

DAILY PRICE INDEX NEW YORK, Sept. 14 (U. P.).—Dun & Bradstreet’s ly weighted price index of 30 basic commodities ed for the United Press (1950-1922 average

Is 109): PIC Ay etssdse 137.90 |

re, No. 2 (bu.) . . Dat: No. 2 white (bu.) ........ Spg. vat. (196-1b. sack). a. ‘prime steam spt. Ib.) ase » Rio 9s spt db.) ] 96 test (Ib.)

ssssesnnse

‘Commodity—

Silver, comml. bars

Lambs, avg. most sales (Ib.) ... Hides, native hvy. steers (Ib.).. Wool, fine unwash. comb. (1b.). Cotton, Midupland (1b.) Silk, 18-15 deniers Jap (Ib.) ... Rubber, spt. smk. rib (Ib.) ..... Copper, electrolytic (I1b.) ......s Lead, spot (Ib.) .... Zine, spot (Ib.) .........ce000ne Tin, Straits spot (Ib.)......0eee

tescsesnsnes

(0B.) cevces

Steel Scrap, Chi. (fon) ........ Pig Iron, Iron Age comp. (ton). Coke, Connellsville (ton) .... Cement, dom. Portland (bbl.).. . Yellow Pine, 6-in. base (m ft.).. Douglas Fir, rough (M ft.) | Gasoline, tank wagon (gal.).... 4 Gruts 01, 48 erguity (bbL).....

sesso

Today $ .10125 18% Al .0901 1.86% A875 14

0685214

068714

Week Ago $ .1007% § 183% 41 .0946 1.88 + «1808 J 065215 - 088714 58% 44%

Year Ago .0883 12% 35%, 1240 1.69% 1676 00% 0460 0485

8y United Press

DOW-JONES STOCK AVERAGES

30 INDUSTRIALS Yesterday creeeesecnsinesese.158.00 Week ago sossves.164.39 Month AZO cscsscccccccsssss 188.68 Year a0 .ccocccsccencss High, 193%, 194.40; low, 157.98. High, 1936, 184.90; low, 143.11. 20 RAILROADS aves ivenveteraseves 40.9% 0000000000 0000 44.37 53.21

—1.96 —8.16 —0.66 —0.42

sssen

Yesterday Week ago .. ‘Month 380 ccccsccsscncasssss Year ago High, 1937, 64.46) low, 40.77. High, 1936, 59.89; low, 40.66. ~ 20 UTILITIES HP cesriensies 24.39 esnses 25.37 cased 28.97

Yesterday Week ago Month ago .ccevnvses Year ago ...ccocvsee a High, 1937, 37.54: low. 24.39. High, 1936, 36.08; low, 28.63. Yesterday Week ago ....

Year ALO -.ccvcovaccsscassss. 61.53 High, 1937, 60.67: low, 52.90. High, 1936, 66.38; low. 51.20.

Net Last Change 8% 20%

Low

~N . FER NER FE See

HHH FH RE »

Pears

Norf South No Amer .... No Am Avn . No Pacific .... 20%

Ste 15% Owens ® Glass 88 —P Pac G & El.... 28% Pacific Ltg . 40 Packard Ya Paramt Pict ... 183% Para Pict 2 pf. 16% Park & Til .... 24 Park Utah 3%a Parker Rust Prf 24 Pathe Film .... 7% Patino Mines . 85%

Penne wi 4 . 31%

«14 3

eis +H HEE HED RE HE HE . . . - .s --

Ya Penn . Pet Corp Am . Pfeiffer Brew ..

Phila Co 6 pf.. ETI Phila Read C I. 7s Phil Morris .... 87 Pliiips aay on von Bl

. 11% Elvmoith oil . 10%

Poo . Press Bu Car .. 14 Public Serv .... 37%

163%; . 11%

+ HE

Pure il Purity Bak . Quaker St. Oil. 15% —R— 97% .. 66 .. 6% + 30

15% 9% 66 6% 30 8 18%; t 1 Republic Stl... 30% Republic Stl pf. 105

Revere Cop >.. 26% Reyn Met ..... 21

«INVESTING CO.’S

(By the N. Y. Security Dealers’ Assn.) Bid Asked Bid

Asked 62|Dep Bk.. 2.00 . Dep Is A 3.09 ol 38

"645 |Dividend. 1.63 21. 43 Equity of 3% 5

315 19.12| Fiscal Yang. In 4.40) Bank.. 04 24.77 Ins 3 4.88 Fixed A. 11. i B . 2 15.00{ Found 4.35 oe rund, Io} Inv 20: 3

PE B. 33 .|Gen Cap 3 0 en Inv. 4 29. 00 Group Secur 310 Agri... 63 Inc Invs 21.2 Instl Securities Ltd. Bnk gp 1.

gD 1 1 Ins grp 1.43 Invest Bank Bncam

Major 2.9 Maryland 7.95 Mass Inv 24.16 Mutual.. 13.76 Ninw ser sec 3 33 Vv

Nat Inv.

i: . 13:49) Tr Bk B S0.820018 ste

rele wig 080 . i 15.98

JOINS CREDIT MEN NEW YORK, Sept. 14 (U. P). — Carl Henrik Henrikson, assistant dean of the University of Chicago School of Business, will join the staff of the National Association of Credit Men on Sept. 15 as educational director, it was announced today.

New Business Books Available at Library

The following new business books now are available at the business branch of the Indian-

apolis - Public Library: THE. ORY OF THE LAND QUESTION. 1 by G. R. Geiger. ‘Land ‘is as significant a factor in the most highly : organized urban economy as f farming; a basic function uction and aevelopment

Ith. 3 OPERATIVE ENTERPRISE, y Jacob Baker. The author wa member of President Roosevelt's re cent Inquiry on Co-operative Enterrises. P PYRAMIDS TO POWER, by Mt Ramsey. The story of the ht L curb and control the power. 0 public utility monopolies and Insull's m to induce consumers to become stockholders—what will be the outcome of the Ena He wars? EGG

s by Yul Willa lard Z hite. *‘To | supply millions of eggs required a y the American BRublic bécomes

a large and economically significant enterPWaGE PETERMINATIONS, by a ak Eiesal. he result of an ation oO e wa examinsiio ges: of 18 outstanding firms.

POSTURE CHAIRS

Employee Comfort 1s good business!”

_W. C. BRASS ms

a | Vick i .

Worthington : :

i% Administration has shown a desire

‘pears that liquidation has not yet

37 | selling climax to this current prase 3 of reaction. %| W. L. LYONS & CO.—A really | SP worthwhile rally is long overdue

Net Last Change 49% + % 3 + Y

High Low Reyn Tob B ... 49% 9% Rutland pf .... 3 ——

cecenee 30% 30% 50% 50 1% 38

1% 1

315 29%, 81% 21%; 30 8 11 22% 11% 35%

FESNFEFFFFTSFSTISSESSERFNFES REE FEES

Lod ped pet

& Gould... 12 11% G xw.. 9% 9% Te

Talcott J ...... 9% Texas Cor

Texas Gul Tex G

. 9% 50%

FhbE bE REE HEHE EEE EEE LE]

Pac 1.109 Un Aract Cp. 23% Un Air Lines .. 11 Un Carbon .... 78 4Ys

Fb pd ft

HHH LEE REE FE HEERESREE SE SERS

oa Sel A. eee

. . . .

yadsce sates .e Vanad :

- &

Wabash pf A .. Walker (H) ... Walworth ...... Ward Bak B ... Warner aig .e WarnWaukes!

BEE press

- Sy

Sew M White Sew M pf 24 Willys Qverland 5% Wilson & Co . 5% Woolworth

aos

HEE

355 283% —Y Yellow Tr ..... « 17% 17% Young Sheet 2%"

a : +: es +t:

betes Haft

Zenith Rad 36 +1

BROKERS’ OPINION

NEW YORK, Sept. 14 (U. P.).—

The “long overdue. rally” is men-|

tioned frequently today by brokerage house commentators in their market forecasts but all opinions are based on what further action the Government may take in monetary matters.

S Most brokers interpret the releas-

ing of “sterilized” gold as an inflationary trend, but ask what the next move will be. Included among the opinions: SHIELDS & CO.—Having had recourse to the inflationary needle, it is expected the powers-that-be will make further use of it to prevent the threatened ease in business activity growing into an actual slump. FRAZIER, JELKE & CO.—The far overdue rally in the market, when it comes, pyobably will be as disorderly as the current decline, for the market is almost sure to be as thin and unsponsored on the way up as it has been on the way down. E. F. HUTTON & CO.—Generally speaking, we think a person buying stocks at this time is making a more intelligent commitment than has been possible for a long while. THOMSON & MEKINNON—The

to check deflationary tendencies and perhaps will inaugurate more drastic moves if necessary. It ap-

run its course and potential buyers are unwilling to exercise any confident judgment as to the immediate possibilities of recovery. E. A. PIERCE & CO.—According to gossip; scale buying of a good quality is beginning to make its appearance and it would sesm that we may be nearing a turning point in the market.

REDMOND & CO.—We regard |

yesterday's action as marking a

and unless all precedents of the past are worthless. it should not be long delayed. ATKINS, HAMILL & GATES— When general news background begins to improve, these ‘low prices should again attract investment buying,

BANK STOCKS

*Bank ‘of Manhattan «........ Bi Bankers Trust .....ceqceeces. 6112 Central Hanover esesseesslld

Chasrical Commercial Continental .. Corn Exchange

Empire First National. Junrs

ng Manufacturers . National City as . Nib Fly st Sunnng

A e Connecticut , Gen Continental Casualt; s of Newar

Nevvmnsnueres 43

J yearlings;

LER AND HOG

PRICES ADVANCE

TOSS TOP HER

Active Markets. Characterize Local Stockyards in Al Divisions.

Hog iading at the stockyards here blazed into activity at the very start of today’s session, with sharp upturns sending the extreme top to $13, according to the Bureau of Agricultural ‘Economics. Shippers were hot after supplies [and early gains of 35 cents on all weights of barrows gnd gilts were later augmented by a few premium sales which figured 50 cents higher. Packing sows rose 25 to 50 cents; with the bulk from $11 to $11.75, with a $12 top. Prime steers sold upward to $18.50 in an active, strong cattle trade.

4 | None of the hunger for high quali-

tied grainfed steers and yearlings left killers as the beef trade continJued encouraging and fed offerings were again rather scarce. The activity was not so pronounced on grassy offerings, but they continued to find dependable outlet at steady rates. : Dealers Gain Dollar

Nothing choice was available in the heifer line, best . stopping at $11.75 in a strong to 25c¢ higher trade. Cows maintained their recent activity as prices were shaded upward slightly. The market for vealers opened 50 cents - higher than Monday, but wound up in a frenzy of buying, late sales showing $1 advances. | After sellin gdownward from $12.50 at the start, the market jumped to a $13 peak, setting a new high since mid-January. Good and choice grades bulked at $12.00-$13.00 and mediums had a spread of $9.50$11.50. Recent sharp advances in the dressed lamb trade were reflected in the local market today, sales generally showing a 25-50c upturn. Bulk good and choice ewe and wether lambs sold at $1 1to $11.25,

| with strictly choice kinds at $11.50.

Choice lightweight slaughter ewes at $325 were steady.

. 208 Receipts 8000

11 80@12. 15 [email protected] LZ 4361s 85 Light Lig E0160) Food and ium

e Lightweights— (160- 180) Good fd

choice. [email protected] [email protected]

. 12 [email protected]

. 15: [email protected] [email protected]

.. [email protected] choice.. 12. 55@12. 90

[email protected] [email protected]

[email protected] 11. 00 11.50 . [email protected] 10. Boil. 50

10.50a1) 80 [email protected]

Medium Wei ium (200-220) Good and (220-250) Good and Heavgwes hts— (250-290) Good and (290- 330) Good and

choice. . choice. .

or Good and choice...

—Receipts, 2000— Steers (850-900) Choice

Medium (900-1100)

ie Pb pt P1210 LOM EN 2100 Dra ta Oi

. Tk puget ok rt pk fd pk fk

(1100-1300) rime C

M (1300-1500) P.

N01 =o NEN 3.300 = 1B DOWD 4 LI en bho BO 01 DI Bobo LN =T4T ae BOC Soihhahbbaaiaeys SRR ROO

3. . . bpd fh fk fod fd

(550-750) Choice .... G .

ood

ft pt DH @Hh

Common Fy (750-900) Good and choice.. Common, medium.

Common, medium Low cutter and tier 5

Good (bee: Cutter, win and medium.

Vealers —Receipts, 800— Sood and choice

(500-800)

on, i (800-1050) Good and choice. . mmon, medi Heifers— :

Good and choice Common and medium oe oi Cows—

fobs iota Bo-3todo GG Gian ogiGo

Ew (90-175) Good and choice.. ommon, medium.

CHICAGO, Sept. 14 (U. P.).—Ho gs—Receipts, 10,000, including 1500 directs: markote Base c¢ higher; spots up more; top,

bul sas os’ '90; p20-300 lbs., [email protected]; 350-180 1b! igh ie rh 5; most go ood packg Sous, est light weights to $11.35 and $11.40. 5 Cattle—Receipts, 9000; calves, 1500; fed steers and yearlings, Steady to strong; market, active; top, $1 severa loads [email protected]; cows, strong to 15¢ higher; cutters up most; best western grass cows, $9; Neignty grass heifers, $950; fed Jeifers as high $16; bulls, 10@15¢c igher; weighty BS asaze kinds scarce, $6. Bag Salers, 50c higher at $12.50; few selects, heep—Receipts, 12,000, tacluding 2000 directs; springers, “active, higher, asking more advance; sheep, “strong. higher; fesding lambs, steady: choice natives, $11; early ton 11.

good I [email protected]; feeding lambs, $10

WAYNE, Se pt. 14 (U. 30c higher: 1bs., 3 50: 1bs. 2.40

Westchester Fire ..oecensee... 303%

HOOK DR

129 EAST MA

COMMON STOCK

Descriptive Circular on Request

: Indianapolis Bond and Share Corp.

UGS, INC.

RKET STREEY

good and choice 190-230 Ibs., |

8.85 paid for long |’

Failures Drop BUSINIZSS FAILURELIABILITIES (DUN & BRADSTREET)

90; mh

JULY EACH YEAR

Dy >

MILLION DOLLARS

. 04 : # 1931 1932 1933 1934 1935 1936 1937

THE PARKER CORR GENERAL DISTRIBUTORS INCORPORATED INVESTORS

Times pecial BOSTON, Sept. 14—Total failure liabilities in July were the smalle for any mont! in recent history an 21 ver cent Jess than in July 1936, a survey showed today.

Week’s Failures Fewest

In Last 17 Years

‘NEW YORK, Sept. 14 (U. P.).— Business failures in the United

States in the holiday-week ended:

Sept. 9, totaled 96, the smallest in 17 years, compared with 151 in the previous full week and 110 in the corresponding 1936 week, Dun & Bradstreet, Inc., reported today.

N. Y. Bonds

By Uaited Press BOND PRICE INDEXES

1 20 20 20 nds. Rails Utils. . 90.1 85.1 98.8 87.9 99.7 91.7 101.9 91.7 105.9 81.0 101.4 101.2. 106.0 85.1 98.8 100.4 106.2 84.7 103.5

60 : Bonds Yesterday Week ago Month ago .... Year igo Two yscars ago .)89.4 1937 Ligh ..... 35.0 1937 ow «cc... 90.1 1936 krigh ...,. 94.8 1936 Hw: .ecche 90.0 1935 kigh ..... 19.4 86.4 103.6 93.1 1935 Hw ...... 83.6 71.0 89.3 83.0 (Copyright, 1937, Standard Statistics Co.)

92.9 95.2 98.6 90.6 100.7 91.3 100.2 93.3

02.0

{ J. 8.- GOVERNMENT BONDS. Treasury Bonds High $5: 43-41 M reg ... --103.13 s 1841

105.23 fe 110 3Vas

Low 105.

Federal Land Bank Bonds

: asked. 3s July 1955-45 00% 2.96 3s Jan. 1956-46 3s May 1956-46 ...... 100 3Y%s May 1955-45 .... 4s July 946-04 “oho 4s Nov. 1957-37 «ise. 4s May 1958-38 1 4Yis May 1957-37 ... 4%s Nov. 1958-38

Federal Farm Mortgage Bonds High Low Last 2++.102.12 102.12 102.12 101.25 101.25 101.25 DOMESTIC BONDS

3%s 1904-44 3s 1949-44

Ill Cen (4%s tT Leh VRR 4 Long Isl ref iy 29 waves: 99 Mo Pacific 55 F 17 .. Nat Steczl 4s 65 . N Y Cent ref 5s 2013. N Y Edson 3%s.65 No Pac 6s B 2047

§ bk 6s 4H 7a Ry Co 33is 66 | W Mary 525 17 4 FOREIGN BONDE

Canada 4s 60

Hig Low "a 11%

ar 2 Norway 6s 3 o “100 107%

de .

Curb Stocks

3ald Loco Bd WS veeess 3arium Stl Bellanca Air .. nse ee serkey Gay Fur . sleeve 3rown Co pf .e Can Marcon: Carrier Corp Centrif Pipe . Cities Serv ..

5 ara

i DN @N

Imp O Can Jones, & Tau Stl Lion Oil ockheed Air .. Mc Wms Dredge esabl ITOn ...eeco0e.. ich ‘Bumper cessunses

oly bdenum see t Rub

= Begs ened

. steven...

esse ine a. .

FY cossencerene Sterl Brew ...... Dil

Armour & Co .. Bliss & faugh Bruce EL Butler Bros Canal Cons cv pf Cent & EW Ut Chgo oy Cities Service ....qevse Comwlth Edison csseese. D

esscns.e

Kello, sha &w Bd Marshall ae Merch MIg A covvane Mid West Corp . Miller & Hart pt Penn El Switch A ..... 17% Pines Wi Besegsene Rollins Eos Ans Stan Dredging ..eesees Swift Int! casens 8 25%

Walgreen Co .. 35%

Zenith RAGIO -...ens0e. 36%

91.31}.

% is Yea ¥2 | Expenses $1. 474,670, 419. 85

a Customs..

CHICAGO GRAINS

SHOW FIRMNESS

IN BUYING DRIVE

Wheat Gains 2 Cents on Canadian News and Rumors.

CHICAGO, Sept. 14 (U. P)— Wheat prices were steady in higher ground today on the Chicago Board of Trade. At the end of the first hour wheat was 2 to 2%. cents higher, corn was % to 1% cents higher, and oats were % cent higher. Firmness in commodity markets as well as in securities prompted continued buying after the opening bulge today. There was a report that shipping space was limited out

of Montreal bound for Europe and early buying was the result. A business developed in Manitobas and this helped maintain the day’s high level. Wheat receipts were 62 cars. September corn reached $1.05 a

| bushel before freer offerings hit the

market and cut small fractions from the early advance. New crop futures ruled firm and feirly good buying persisted. Corn receipts were 44 cars. WAGON WHEAT

2 NY gain elevators are paying for No. 2c; other grades on their merits, Cash corn, new No. 2 Oats,

2 yellow, 9lc.

WINNIPEG WHEAT cesesssereeins (. SLIT: Te 1.23 +2

ARGENTINE GRAIN

BUENOS AIRES, Sept. 14 (U. P.).—Grain flues opened higher. Wheat—November, $1.21%, up 3c; FeTuary. Se up Hac Corn—October, Cos Cs, ho 3c; Novem 55%c, up Ysc. Oats—Spot, 28c, unchan oo Flax—October, $1.36%, up 7%c¢; Novem er, $1. 135%, up Jac.

LIVERPOOL WHEAT

October December

- Pre sv I 2 si. ire sh 8 of $2 28% 1.29% 1.26Y% i 23% 1. 21% i: 23% i ne

CHICAGO PRODUCE

Eggs—Market, firm; receipts, 7 cases; fresh graded firsts, 22%c; extra firsts, 23%ac; EyFrens receipts, 22c; dirties, 18340;

checks, receipts, 7901

Butter Murket, firm; extra firsts (90-91% score), 33%

tubs; 33%c; extras (92 score), 34c; firsts, 31% 32%c; seconds, SJ1@soc; stndards, 33%c; steady; Yecelpts.

specials, 34! 1, @35 Poultly— Market, Haid trucks; ducks, 14@18c; geese, 15@l6¢c hens, 19@22c; Leghorn hens, 16¢; spring chickens, 19@23%c; roosters, 13% @14%c; broilers, 19@25c; turkeys, 15@17c; fryers, 3 es Twins, 17, 18; eese—' ns, a aisies, 18% 18%c¢; longhorns, 1 181A 105k : ° Doatoss—Suppiies, A mand, fair; market, weak; Idaho Ri

usset Burbanks, sa sal. 90; yh Fiss Triumphs, $1: 3 1.33%; North Da yi 15; North Dakota Early Ohios, oo Wisconsin oCbblers, 80c@$1; _ Wisconsin Bliss Triumphs, 80@90 C. Arrivals, 72; on track, 269; shipments,

LOCAL PRODUCE

(The prices quoted are paid for stock gathered in ithe country, while for delive eries in Indianapolis the prices are 1 cent higher. ach | full case of eggs must weigh 55 _pounas gross.) ° Bes s—Nos T Sstrictly fresh, loss off, 19

5 lbs. and over, 18c3 13c; heavy breed broilers, . 2 lbs. and over. 19c. Leghorn broilers, 1937 stock. 2 ibs. and over, 17c; bareback broilers, 1937 stock, 5 lbs. an over, 13c; old roosters. 9c: ducks, fullfeathered and fat. 5 lbs. and over, 5c; eese, full-feathered and fat, 9 to 14

Butter—No. L 31@snec; N 2, 35 35%c. Butterfat, NG Es Ny % 2, 29¢. °

FOREIGN EXCHANGE

-NEW YORK, Se %. 14 (U. P.).—Foreign WL opened mm Rates. Net Cha: Ca e Rates. Ne: nge. England (po 4.95%, +.003: Eng. 60-4. bi bill rate) 498% :

a (dollar) .. France ( Solar 20357% 05263

y (mark) Swiizesiond ri Holland 4 uilder) .... Sweden (krona) .... Norway (krone) ..... Denmark (krone) ... Japan (yen)

U. 8S. STATEMEN T

WASHINGTON, Sept. 14 (U. P.).—Gove ernment expenses and receipts for the current fiscal year through Sept. 11, 1937, compared with a xear ago:

sececense

Last Yea $1,219,621, 357. 20 65,478,961.

=ceipts.. 1,057,237,296.94

. . 1,091,251,005.82 y Pub. debt 37,212, 380.102 88 33,3 Gold res. 12, e320 0,738,6. 77.715,773.38 Toy Total Purchase. Inac. gold...$8, 599, 056. 95° ¥ 400,589,319.1%

FOOD PRICES

CHICAGO, Sept. 14 (U. P).—Sweet Poe tatoes—Tennessee, bushel hampers, 90c@ $1.. Carrots — Illinois, bunches, Qs. Spinach—Michigan, bushel, 75c@$1. Tomatoes—Michigan, 12-qt. baskets, 40@50c. Cauliflower—Colorado, crates, $1.20@1, 40. Peas—Colorado, hampers, $2. 25. Michigan, flat «rates, @60c. (50-1b. sacks)—Illinois, Yellows, Yellows, Michigan Yellows, 50@90; Valencias, [email protected]; Idaho Whites, $1 135.

SEARS ADVERTISING BUDGET AT RECORD

Newspaper advertising expenditures reached an all time high last year for Sears, Roebuck & Co., according to S. W. Shipnes local store manager. The report showed a total national expenditure of $10,548,« 877 during 1936. Sears increased its newspaper advertising in Indiana 18 per cent last year to reach a total of $476,892.

ON SAVINGS

TN TCI I

Per Week

"HAVE THE HOME YOU WANT

* It takes as little as $2 per week to repay a $1,000 loan here. not select the home you Want—-thien see us? ‘Hundreds of people every month

homes through Railroadmen’s, money that formerly went to pay rent. You can do the same as they. Let us show you how—no obligation.

Available on Marion County

oa 7% A TTTE

So why

buying or building their

Real Estate Only!

NS FAA TTIW Amr ’ .