Indianapolis Times, Indianapolis, Marion County, 16 September 1937 — Page 10

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SLIGHTLY TRADING

Federal Long-Term Bonds Rally in Light Trade.

NEW YORK, Sept. 16 (U. P.).—Leading stocks advanced fractions to more than a point in dull trading today.

U. S. Government bonds rallied from opening irregularity and ad-

vanced 1-32 to 10-32 point in early

trading today.

Activity centered in long-term

Treasury issues, where prices ‘moved !

up strongly from the opening lows under good support. Guaranteed collections firmed in quiet dealings. Irregular price trends ruled dull Curb stock dealings today. Copper shares reacted downward to the situation abroad, where the price slipped back in nominal terms with! business at a standstill. Anaconda lost more thania point to 4815. " Other losers included Western Union, which made a new low at 33 off 11%, Montgomery Ward. Sears Roebtick, Oliver Farm, International Harvester, Allied Chemical and Douglas Aircraft. United States Steel touched 96 for al 2-point gain. Gains of fractions |to more than a point were made by Atchison, New York Central and Union Pacific. Motors held fractional advances. Oils were higher under lead of Phillips Petroleum which| gained more than a point. Utilities were mixed.

FIRST HOUR

The market opened irregularly higher, steel shares showing gains of more than a point. Trading was dull and the market moved unimpressively. U. S. Steel at 95% had 1% gain, and Chrysler ac 98 was a point | higher. Bethlehem Steel maintained 3. gain at 8112. Atchison was 7% higher at 601, and New York Central maintained a fractional gain. Metal shares weakened as the price of cooper declined in London. Anaconda was “& lower at 49 land American Smelting 5 lower at 8012. Utilities were easy. Volume approximated 220,000 shares compared with 320,000 in the first hour yesterday. Dow-Jones averages—Industrial, 163.33, up 0.48; railroad, 41.74, up 0.29; utility, 25.21, off 0.15, =

SECOND HOUR

Trading . continued quiet. Prices slipped back from the highs, but mos tissues held gains. Coppers, exceptions, declined fractions. to more than a point net on a deadlock in the export copper market. No sales were reported on the latter during the morning. Steels held well as did motors, some of the rails, oils and utilities. Western Union continued weak around 33, off 114, and a new low for the year. U. S. Steel, which touched 96, up 2, eased to 95%. Chrysler| was at 98, up 1, at noon. Southern Pacific rose nearly a point to 33. American Telephone was unchanged at 163. In the copper section, Kennecott fell 1% points to 55 5%. Sales totaled 130,000 shares against 150,000 yesterday. Dow-Jones averages: industrial, 162.87, up .02; rails, 41.63, up jist wiliiy, 28, 26, off .10.

TI oday’s Business At a Glance

CORPORATION NEWS

Champion Paper & Fiber Co. and subsidiaries, 16 weeks ended Aug. 15, net profit $922,487, equal to $1.41 a common share vs. $396,419 or 46 cent§ mor ago. Faultless Rubber Co., year ended June 30, net profit $187,426, equal to $2.86 a share vs. $127,134 or $1.94 in previous year. Nachma Spring-Filled Corp., fiscal year ended June 19, net profit $197,637, equal to $2.26 a share vs. $143,331 or $1.64 in previous fiscal year. National | Steel Car Corp. fiscal year ended | June 30, net profit $160,983, equal to $1.24 a share vs. $11.835 or 9 cents previous fiscal year. Remington Rand; Inc. Aug. sales $3,057,000 vs. $2,838,000 year ago, up 7.7 per cent; five months, $20,015,000

vs. $16,147, 000 year ago, up 24 per.

cent. Sears, Rotbick & Co., four weeks ended Sept.| 10, sales $39, 937,242 vs. $37,047,510 year ago, up 7% per cent; 32 weeks, $331,585,878 vs. $288,344,391 year aga up 15 per cent. Singer Manufacturing Co., 1936 net profit, $l 5,137,713 Vs. $16,291,206

in 1935, Universal best Tobicco Co., Inc., and wholly-owned subsidiaries, fiscal year ended June 30, net profit $1,636,081 vs, $1,630,999 in previous fiscal year. ! American

Co., July

elephone & Telegraph et operating income, $1,259,799 vs. $1,779,243 year ago; seven months, $11,896,186 vs.. $12,504,431 year ago. Capital City Products Co., fiscal year ended June 30, net profit $268,397, equal to $2.68 a share vs. $163;374 or $1.63 year ago. Alabama Great Southern R. R. Co., first 7 months net income $720,423 equal to $3.21 a share on combined 6 per cent participating preferred and ordinary stock vs. $406,352 or $1.81 year ago. Detroit Edison Co. ‘12 months ended Aug. 31 consolidated net income $10,983,045 equal to $863 a share vs. $10,954,513 or $8.61 in preceding 12 months. Duquesne Light Co. 12 months

AS QUIET PREVAILS

2 2 2

MARKETS AT A GLANCE

Stocks firm in dull trading. Bonds irregular; U. S. Government issues higher. Curb stocks irregular and dull. Chicago stocks irregularly higher. Call money 1 per cent. Foreign exchange generally steady; French franc easy. Cotton futures quiet and steady. Grains—irregularly lower in Chicago; wheat off 115 to 2 cents a bushel; September corn up 1! cents a bushel. Rubber futures declined. Silver — Unchanged in New York at 4434 cents a fine ounce.

Curb Stocks

By United Press

Am Cyan B .... Am Maracaibo ..

esos

Bald Loco

Bellanca Air Brown Co pf ... Can Marconi .. Carrier Corp Centrif Pipe Cities Serv .... Sige Sery ot Seis Col O&G

Creole Pet Cusi Mexic .. Dayton Rub . Eagle Picher L Fisi Ford Can B Grd Nat “Films Gulf Oil .... Imp iy Jones & oe Stl ..ce0.s

cies ese asns

HORI UT Dd pd HDOONOOWIWD rN =O 1-1

oi - L 6 RS RRS NRA

Segal Lock .... Singer MI; Sunray Oi Technicolor .... Un Lt&Pwr A ..... Wright Harg

Chicago Stocks

Aetna Ball B . Asbestos Mfg . erghoff Brew utler Bros . Cent. Ill PS pf . Chgo Corp Cities Service ecvessnes Dayton Rubber Gardner-Denver Gen Hshld Ut ... Iron Fireman

8 © ©

— IG NY BN

nN DOYOO WW 0 » * a

Marshall Field sesssane McCord Rad A Mid Un pf cblitt-Sparks . No'west Bancp . Prima & Co ... Schwitzer-Cu Stan Dredging Walgren Co .... Wisc EkShrs . Woodall Ind Zenith Radio

Sept. 11 carloadings 2550 vs. 2726 previous week and 2184 year ago. Missouri Pacific R. R. Co., week ended Sept. 11 carloadings 14,8 vs. 16,684 previous week and 15,948 year ago. New York Central R. R. Co., week ended Sept. 11 carloadings 36,723 vs. 43,433 previous week and 36,539 year ago. Pennsylvania R. R. Co. week ended Sept. 11 carloadings 62,258 vs. 72,255 previous week and 62,448 year ago. Wabash Ry. Co., week ended Sept. 11 carloadings 4782 vs. 5718 previous week and 5440 year ago.

DIVIDENDS

Chamberlain Metal Weatherstrip Co., quarterly 20 cents payable Sept. 24 vs. like payment on June 16. Colon Development Co., 12 per cent on 6 per cent redeemable convertible preference and 1% per cent on 5 per cent redeemable income stock payable to stockholders of record Oct. 1. Corroon & Reynolds Corp., $1.50 on $6 preferred arrears payable Oct. 1; record, Sept. 24 vs. like payment in previous quarter. Great Lakes Steamship Co., Inc., special 75 cents and usual quarterly 75 cents payable Sept. 29; record, Sept. 23. Imperial Industries, interim 3 per cent on common vs. 212 per cent a year ago. Mahoning Coal R. R., $7.50 on common payable Oct. 1; record. Sept. 24 vs. like payment in previous quarter. New York Trust Co., regular quarterly $1.25 payable Oct. 1; record, Sept. 18. Selfridge Provincial Stores, Ltd., 2% per cent for year ended Aug. 31 payable Dec. 8; record, Nov. 16 vs. similar annual in previous year. Weinberger Drug Stores, Inc., regular quarterly 50 cents payable Oct. 1; record, Sept. 20. George A. Hormel & Co., regular quarterly 25 cents on common payable Oct. 15; record, Oct. 2. Payment is in lieu of one ordinarily paid in November.

Deere & Co., stock of two shares for each share of outstanding common payable Oct. 30 record Oct. 2 and cash of $1 on present outstanding common payable Oct. 20 record

Oct. 2. ; (Copyright. 1937. by United Press)

THE INDIANAPOLIS TIMES

By United

Net Close Change Adams Exp .... 1 15 Alssks Jun .... 11

40 Loco Am Am Pw Am Am Ra Am an

An Am Store Am P&T

: ih :

Am ons eens Armour III .... Armstrong Ck .

Auburn Auto ... 15

sald Loco SH . t & Ol

HA .. 15% Cl Callahan Zinc.. 3a Calumet & H . 123; Canada Dry ... 19% Caterpillar T .. 83 Cel 31

op Byers, A NM .e

Col Carbon .... Com Credit .... Com Solvents .. Commonw & So Commonw So pf 47 Cong Nairn ... 32 Cons Edison ...

ST Zeller .. Curtiss Wr ....

45, Curtiss Wr A... 15%

422 42%

Fe 30% 17% 1 25%, 63 10% 16 2%

Douglas Air ...

Eaton Mfg .... Elec Boat .....

. 25Y% .50 pf. 63 10% 16 Exchange Buf .. 2%

Fer arse ‘hive

Bo er Flintkote Co ... Foster Wheel .. Francisco Sug .

Cable

Gen .- Electric .. 4 51

Gen

Gen Gen Silistis: $ R.. Goodye Graham!Paige Granby .. . Gt North pf.. Gt West Sug. Greyhound Cp.. 4 Guant Sug .... 214 331% 3%

Harb-Walk Hayes Bdy ....

BROKERS’ OPINIONS

NEW YORK, Sept. 16 (U.P.).— Brokerage opinion today— E. A. PIERCE & CO.—Despite the erratic action of the market, volume tended to contract further and this would indicate approaching stability and a further testing process which is normal in the establishment of a bottom. SHIELDS & CO.—The market is entitled to more and better rally than it has had. Considering it is thin on the upside, good news— not pollyanna governmental sunshine, but unexpected concrete constructive happening—could give the list a good bulge. On the other hand, it still remains extremely vulnerable to sudden bearish happenings so that a careful trading policy should be adhered to. HORNBLOWER & WEEKS—It seems unfortunate that rapid changes in the monetary issue have

“ees 3312

/2 3% 3%

to be brought to the fore so un-|Std C Tob

expectedly and frequently. These can only tend to make for uncertainty and complicate the problem which confronts investors and businessmen alike in their attempts to guard against opposing influences, namely, inflation and deflation. THOMSON & MKINNON—We continue to feel that the atmosphere has been rid of a great deal of pessimism and that confidence is again reasserting itself. We believe that the market presents favorable investment opportunities on stocks at prevailing levels and would take advantage of minor reactions to make purchases. REDMOND & CO.—In our opinion there will he further irregularity within a restricted trading range the remainder of this week with the status of the French franc likely to assume increased importance as the major influence on the market trend at this particular time.

E. F. HUTTON & CO.—We are not disturbed by the fact that there was selling from Europe and that weakness appeared in spots. W. L. LYONS—Professional opinion inclines toward the view that it will be difficult to initiate a fresh: decline from present levels. While there is a chance of the market making a triple bottom if this selling persists, they feel that this will be the limit of the decline and that a further rally will ensue. ATKINS, HAMILL & GATES— We feel that the bottom is now in progress of formation.

DOW-JONES

NEW YORK STOCKS

Press,

STOCK AVERAGES

30 INDUSTRIALS

Yesterday Week ago

“ieee scsssessscesie

Month ag0 ....cco0000.000...185.28 Year ago .-............

-162.85 .166.36

.....166.25 --1.09

High, 1937, 194.40; low, 157.98.

High, 1936, 184.90;

low, 143.11,

20 RAILROADS

Yesterday ..... Week ago Month ago Year ago High, 1937, 64.46; low, High, 1936, 59.89; low,

sesesass

sees

secs sssssessene

41.45

seis

cessssessseacersa.s 44.66

ceeess B2.38 55.20 40.77. 40.66.

20 UTILITIES

Yesterday .... Week ago Month ag0 ...cceevseee Year ago High, 1937, 37.54; “low, High, 1936, 36.08; low,

sessssees.

ceees 25.36 seen. 25.94 ereese 27.99 . 33.82 24.39. 28.63.

20 STOCKS

Yesterday Week ago Month ago .....co0000. Year ago

@escscaevssen

Caress vnsene

eesees 54.22 eeesss 56.06 cesses 62.93

High, 1937, 69.67; low, 52.70.

High, 1936, 66.38;

low, 51.20.

Holly Sug 25 Hercules dr wi 6 Hud & Man Ya Bo Motor. . 1274

Ind Rayon 30% Inspiration Cop. 2% Int Agric . Int Business M. 147°

Int Hyd El A Int Nickel PA

Johns-Man ....106

cesses 38%

Reanocott Ki hey 2%

Leh Val R R.. Lehman ...... Letner Strs ....

Loew's Lone “star Cem 43% M

ces 3415 40% 33 . 21% . 30% 9

3 15%

Mack Tr ... acy R H.. Maracaibo EX.. Marshall a . Mathieson ..

High. Low. 25

Net Last. Change. 25 1a

2% 12%

30%, 9g 15%

103Ys

2738 517%

Mullins Mfg B. Munsingwr ....

Nash-Kelv .... Biss en

1 29% 10 167%

15% 4

17Y2

Distillers

3Ys PLEA — 1315

No Pacific «....

Omnibus Otis Eley Otis Steel Owens Ill Glass

resses

Pac G & El ... Packard Paraffine Co . 3 Paramt Pict ... Para Pic 2 pf . Park Utah .... Pathe Film ..

28%

9%,

23 20% ° 13%; 33 15% 92 29% 1% 59

19% 17%,

862

Penn RR ..... Phelps Dodge Pitts Press Stl Car .. Proctor & G .. 5 Public Serv Pullman Pure Oil ......

Radio ...:ca000s Ra Or Reo ' Mot . 4Y Republic sii... Roan-Antel .... 70

Seab Air I ... Sears Aedes «3

Superior Oil + wift & CO .e0e

Texas Corp 53 Tex Gulf Prod. 3% Tex G Sul . 34Yg

5342 53% 34%

5%2 2

. 42 Stl 20 147% 5 - 39% 42 17%

Va Ya

3 Ya

BY partes

53 2 3 n

INVESTING CO.’S

(By the N. Y. Security Dealers Assn.)

S 8p w IRIN IB DIDD Moo, ARIVNDOOD

Ne Bo Cn

Cum! u Tr Fidelity. 24.6 Fiscal Fund Bk Stk

Ins Stk 3 Fix a A iL

Found’. Fd dav. 20 2

rans Bo nh Sesathaann ppaanssy

B Gen Cap 37.8 Gen 6. Sete ‘Securities Auto 1.22

P85]

Schoel. 2.37

I B 5 Trs 1 st Bos 12. 50 21. iE Wear 16.

-0.05 +2.99 —2.11

High. Last Chas e lexas & Pac ... 32 32 EO — % 1 Ya

X'y

Transamerica .. ry 20th Cent Fox.. 32

Union B & P.. 16%

a - oN

n El Coa United Fruit .. Un Gas Imp .. Un Paperbd ... U S For Sec ... Pipe &

SA HE

US US US Us U S Steel Un Stores A...

seese

Vanadium

Wabash pf A . | Waldorf Sys ...

Warner Bros . 12,

35% 31% Ya 132 3% 8% {Woolworth . 43

Yellow Tr

17% Young Sheet ..e 69 69

a RUSSIA'S GOAL

Soviet Expects to Pass Rand ~Qutput Within 16 Months.

Times Special | NEW YORK, Sept. 16.—Within 16 months Russia will be the leading gold-producing country of the world, surpassing even the rich yield of the Rand, which has held the record for many years. This was the prediction made today by an authoritative Russian source to the chairman of a great New York bank.’

For several years Russia has beert purchasing mining equipment of the most modern types, largely with the proceeds of the precious metal it mines; and now shops. have been set up in Russia to turn out similar equipment at a rapid rate, according to G. I. Peryshkin, director of “Glavzoloto,” the chief administra~ tion of the gold industry in the U. S. S. R.

Opening New Fields With new fields being opened continually, and old fields being worked more intensively—even very lowgrade ore being handled—Russia has leaped forward as a gold :-producer. In 1930 gold production in Russia and Siberia was put at 1,200,000 fine ounces. Last year, it is’ estimated, production exceeded 7,000,000 ounces, as against production in South Africa of 11,339,000 ounces. Last year the total world gold production, under stimulus of the $35 price here, made a new record of 34,910,000 fine ounces. Its value at the U. S. Treasury figure was placed at $1,221,850,000. Considerable of the Russian gold has been coming to the United Statcs through the London market, it is believed.

Much Held as War Chest Russians look ‘upon their gold supply partly as a means for purchasing abroad, and partly as munitions of war. Japan, for instance, though it has been ‘getting some gold from Manchuria in recent years, has felt the need of more very acutely during the present crisis. More than 2000 Russian workings today extend over an operating area of some 1,158,000 square miles. The industry is being developed by 25 great “trusts,” or government monopolies. In regions where it was believed only placer gold existed, rich ore is being discovered, and in some re-’ gions where only ore wasP found hitherto profitable placer mining is being developed. A The Russians boast of this. 1

“What has been so far accomplished,” declared Mr. Peryshkin, “is just a beginning. We have a huge raw materials base, larger than that of any country in the world, and great possibilities for the utilization of these resources in connection with the vast plan of general industrial development.” The rest of the world is beginning to wonder what the impact of Russia’s gold will be upon their resources. The United States, for instance, is guessing as to how much more it can purchase at $35 an ounce. : And other nations are figuring

52 what will happen to the world mar-

.83 31

PRICE INDEX

DAILY PRICE INDEX NEW YORK, Sept. 16.—Dun & Bradstreet’s daily weighted price index of 30 hasic commodities, compiled for United Press (1930-1932 average 100):

...138.23| Year ago vee.e.....138.31]1937 high (April 5) Month ago .........139. 18) 1937 low (Sept. 1) .

Yesterday ........ Week ago

NEW YORK, Sept. 13 (U. P.).—Following are the orices

used in compiling the index:

Commodity— Todav

AND COMMODITY QUOTATIONS

Commodity—

158.26 137.05 |

Zine, spot (1b.)

Week Ago

Year Ago

Lambs, avg. most sales (Ib.) ... § Hides, native hvy. steers. (Ib.).. Wool, fine unwash. comb. (Ib.). Cotton, Midupland (Ib.) Silk, 13-15 deniers Jap (Ib.) ... Rubber, spt. smk. rib (Ib.) ..... Copper, electrolytic (1b.) ....... Lead. spot (Ib.) .........

Tin, Straits spot (Ib.) ... Silver, comml. bars (03.) ......

Today 1075 17% 41 0921 1.87 .1881 a4 065214 068712 597% 4434 18.25

cseesen

18.50

Week Ago

Year Ago

$ 099214 $ .0883

L183 41 0937 1.861% 1918 14 065214 068715 5914 443%

133% 35%% 1238 1.75 1696 0934 .0460 0485 A5% 44% 16.25

1.43 60 17.75

ket if the United States stops buying. z ,

WHOLESALE FOOD INDEX UP 3 CENTS

NEW YORK, Sept. K, Sept. 16 (U. PhH—

| The weekly index of wholesale food

prices compiled by Dun & Brad-. street, Inc., rose 3 cents in the week ended - Sept. 14 to $2.89 compared with $2.82 in the corresponding 1936 week and $2.17 in 1935. Increases were recorded for barley, bacon, lard; butter, eggs, steers, hogs, sheep and lambs while declines were made by flour, wheat, rye, oats, Sugst, cottonseed oil, and bacon.

U.S. STATEMENT

WASHINGTON, Sept. 16. (U. P.).—Government expenses an rece for the current fiscal Year, Mnfough Sept. 14, compared with a

his ast Yea 31 357, 167. 3 $1 265 0865, 394. 15 1110,337.833.02 '805,03 00.619,334.35 3

,220, Gld Rsrv.. 13, 624,7 Customs .

Foday -Total Pu Inactive Gold 8, 810; 524. 36 $1,113 6.8 874. 80 *New high.

-—

al- |

HEAVY RECEIPTS SEND HOG PRICES DOWN 10 CENTS

Vealers Steady to 50 Cents Higher as Lambs Firm To. Quarter Gain.

Hog prices dropped another 10 cents today on weights above 1.60 pounds, according to the Bureau of Agricultural Economics. Pigs and light lights escaped the lower cainpaign as values here were relatively low on weights below 160 pounis. Practcial top fell to $12.40 on choice 210 to 225 pound butchers, but a few premium sales boosted the extreme peak to $12.50. Packing sows ruled weak to 25 cents lower.

Hardly enough steers showed 1p for Thursday's cattle trade to test values. Although a load of 1072pound averages at $15.50 showed the

full strength, at least, of the week’s

25 to mostly 50-cent gain on upper crust steers and yearlings selling above $14, most of the crop coniprised odds and ends of grasses from $7.50 to $10.50. She stock made up most of the run, with cows predominating. Excellent demand, especially from shippers, boosted prices for vealers 50 cents in extremes. Th: market ranged unevenly strong t» 50 cents higher, choice kinds generally showing the advance. Ton

| climbed to $13.50 on choice grades,

with bulk good and choice $12.50 to $13.50, mostly $13 and up to the top. Mediums cashed at $11.50 down.

Activity featured the market for | lambs, with prices strong to 25¢ higher, Bulk good and choice ewe and wether lambs turned at $11 tc $11.25, top $11.50, on strictly choice offerings. Bucks were sorted out at $1 per hundred less. Ewes held s steady trend at $3.25 down.

Sept. ‘Top Receipts 9. 10. 11, 12, 13. 14,

15. 12. 12.50 Is. at 14 nil? az 50 12.50 1 S140-160) Go ood 8 and choice, -3]3 3

Lightweights— S160. 180) Go

(180-200) Go edin

Medium Weis (200-220) &oed { and choice " (220- 200) ood and choice eavIne Coat Good and choice (390-330) Good and choice.

12.20 11.90

1 12.50 1

[email protected] [email protected]

1 IaRaiES 00

. 10: 00@i1; ‘00

10. B@11 25 0:00@11 .00

@ @ é @

cies anne

(273-530) Medium ......

ughter Pigs se 1100 -140) Good, a and choice. .

—Receipts 1000— Steers (550-900) Choice .- Good ....

’ Medium (900-1100) C

1100-1300) Brim (1200. c

1300-1500) B (1300 c

(550-750) Good

Rd ‘éhoice.. 11.13 & d choice. . ood an 18

Common, medium. Cows

(750-900)

sseecenn

"mediu; Low cutter an Cutter cssssanee

dL EE and medium. Vealers : —Receipts, 800— Good and choice .........

Medium Cull and ‘medium

Q & SES | Sawa OO

Calve (250-500) Sood and ehoice . mon, = medium Feed and Stocker Cattle Steers (500-800) Good and choicé ommon, medi (800-1050) Good and cho Common, medi Heifers—

Good and choice Common and medium ......

ihn *gz 888

SS) of 22

Da bo-Ibabe aN ANHG

ab ob abode 9 0d AD “0 now

A ON ao oan B00 aa

ro 23 onan

ND —Receipts, 2000— mbs—

esssssessecssnessass $11.

“Go-175) Good and cholice.. Common, medium.

CHICAGO, Sept. 16 (U. P.).—Hogs—Receipts, 11,000, iRetuding 3000 directs; [Dake

Sheep— Receipts, 14,000, including. 1000 dirgois; Sprigers A again very active; bulk cents higher, 40 cents higher au bulk Westerns, $11.75; natives, [email protected]; early top, $11.85; er; buik slaughter ewes, [email protected] le—Receipts, 7000; calves, 1500; maket, active; only common and medium light grassy and warmed-up steers dragey ES 2a under; grainifeds firm at $16 a: $19 paid for light oy eS: $18. 50: heifer a: $17; all she-stock ‘firm and active; cows strong to 15 cents higher; cutters. $5.75 down to $a. 50; bulls, firm, active; sausage offerings p to $7.50; vealers, $13. TT Sept. 15. (U. P.).—Ho Market, Sadr, lower: Hulk 200-225 Ibs. 275 lbs, $12.20@12. 30; Nels. 10; 0-200 1bs.. ? 100-13 5; ein 50@12.

Sept. 16.-—Hogs—Market, 1bs., $12.20; 225-250 Ibs. $12. 180- ., $12.10; 160-180 1lbs., $12; 150-215 1h I 90; 275-300 Jos. $11.70; 300-350 1bs., 5 3 $11.25; 140-150 1bs., $11; io ou: 5; 120130 1bs.. $10.50; 1 i00-120 s Fu $10. 25. Roughs $h 5: a $8.50; calves, $12.50;

LOCAL PRODUCE

Tne Files quoted are paid for stock HLL red in the country, while for deliv Ea in indianapolis the pries are 1 cent higher. Each full case of eggs must weigh 55 pounds gross.) don Eges—No. 1 strictly fresh, lgss off, 19¢ Heavy breed hens. 5 lbs. and over, 18c; e Hors hens, ass: heavy :

[email protected]; $10.50 down. Lambs—$10.50.

FT. WAYN Sieatly: :

k Proll 1937 stock Sn 1s od foosters, 9c: ered an geese. dh EL and fat, to

Butte 3@3sye: No. 2. 36@

—No. senate . 33¢; ‘No. 2, 3c.

NSH, No. 1

2.40 |

Sheep, .

Ae; 130-150 $10.

lambs,"

N Y, Bonds

By United Press

BOND PRICE INDEXES

20 20 20 Inds Rails Utils. 90.2 85.4 98.7 90.7 87.3 99.6 92.2 91.7 101.9 92.3 7 105.8 89.3 80.8 101.2 95.0 101.2 106.0 90.1 85.0 98.7 948 100.4 106.2 90.0 84.7 103.5 1935 high ...... 91.4 86.4 103.6 93.1 1935 low ....... 83.6 71.0 . 89.3 83.0 (Copyright, 1037, Standard Statistics Co.)

U. 8. GOVERNMENT BONDS Treasury Bonds

60 Bonds 91.4 92.5 95.3 98.6 90.5 100.7 91.3 100.2 93.3

Yesterday ..... Week ago ..... Month ago .... Year ago Two years ago. 1937 high ..... 1937 low ...... 1936 high ..... 1936 low ......

3%s 30s 3Yas

1643-40 Ju ....

Yas

23%s 3Yas 41s 2%s 18. 2Ys

. | Was 3%

THURSDAY, SEPT. 16, 1937

HEAVY SELLING SENDS WHEAT DOWN 2 GENTS

Corn Futures Irregular as Oat Prices Decline’ Fractions.

CHICAGO, Sept. 16 (U. P).— Continued selling carried wheat more than 2 cents a bushel lower today on the Chicago Board of Trade. At the end of the first hour wheat was 1% to 2% cents lower, corn cent lower to 13% cents higher, and oats were % to % cent

0.23 lower.

eign Bonds Australia 5s 55 ........ Brazil 6'%2s 26-57 .. 31 Canadg 3%s 61 .... Cuba §l2s 45 DOMESTIC BONDS Alitib} Ss 53 (M)

Can Pac Cen Pic

Ss 61 ..... Cons Qil 32s 1 Sélewivs . Crane Co 3%2s 51 ...... Erie ref 5s 75 Flor E Coas 5s 74 Goodrich 6s 45 ......., Gt Nor 4s G 46 ose 117 Hud Man tof 58 57 +o. Int Gt N 6

90%,

LOCAL ISSUES

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

BONDS AY Citz Ind — (TH) 3 at Sl cea

H Tel & Tel EW H Tel & Tel F

Ind Railways Inc 5s 67 . Indpls Water Co 3%s 66 Interstate Tel & Tel 5lus 54. . 97 Kokomo Water Works 5s 5 ras

‘STOCKS

Belt RR St Yds com .. Belt RR 8t Yds pfd Cent Ind 4 over 9 Ri . Home TX T Ft W Hook Drug Inc ns oe xInd & Mich .

Ind Hydro Bes Lo 8... Indpls G xIndpls Fwr & Te pfd ce xIndpls Pwr & L H Jis.. xIndpls Water Co . d 5 Lincoln Natl Life Ins Co com. P R Mallory com N Ind Pub Serv Co 3d 51a N Ind Pub’ Serv pfd 6 N Ind Pub Serv pid 7s Progress Laundry Co com 66. . Pub Serv of Ind pfd 6

3 11%

(By M. P. Crist & Co. Market St Investing corp lee. 29, 86 31.75

CHICAGO PRODUCE

Eggs-—Market. firm; receipts, 6059 cases: f-esh graded firsts, 23%c; extra firsts, 24c; carrent receipts, 22c; checks, 17%c; dirt es, 18%¢c. Butter— Market firm; receipts, §s3 tubs; eztra firsts £00-91% score), 34@34%ac; extras (92 score), 34sec; firsts, 32Y@33%c; seconds, 23'->@ 5110, standards, 34%Y,c; spe35@35%c¢; centralized (89 score), 3: %c; centralized (88 score), 32%ec. Poultry—-Market, steady: receipts, . two cers, 48 trucks; ducks, 14@18c; pia 15@ l€c; 20@23c: 17c; 13% @ turkeys, 15@17c;

eese—T'wins, 17% @18c: daisies, 18Vi@ 18} se: longhorns, 181, @18 Vac otatoes-—-Supplies, liberal; demand, Slow; $160 iret weak. ely

95 al, Los! C - nesota Cobblers, 80@97'.c Wisconsin Min l@ i. Wisconsin Blis Jriumphs, Unclassified, 77l%c Be Arrivals—104; on track, 317; shipments,

BANK STOCKS

Bid Bank of Manhattan. vessssiee. 29% Benkers Trust sesssessss 632 Benk of N ¥ Trust Eanirren tts Brooklyn Trust ..............110 Central Hanover ....,,.......11

ree .. 28% sscesvararse. 2060

ud v Title Guarantee .. - INSURANCE STOCKS Ae na Fire Aeina Life . av xConnecticut: Gen | Continental Casualty Firoman’s of Newark Franklin xGlenn Falls Fire Great American . Hartford Fire ome Sevens . Phoenix Fire ....... sensunasesi NY xSun Life .\.... ‘ Tra elers Fa veesvasev 441 Wes schester Fire ceiiiiceeseass 32 XE'x-dividend.

FOREIGN EXCHANGE

NEW YORK. Sept. 16 (U. P.).— exchange opened a firm rin: bg P.).—Foreign e Rates Net Ch. . $4. 95 3-16 4.00% +. OMIA =+.0000 E 000012 —.00002 -+.0001 Fioobt

-+.000 -+ 0001" +.0004

C olonial Sayings & Loan Association 28 South Illinois St.

‘Eastern houses were rathef heavy sellers of wheat during early trading today and thec rop declined to new lows for the season. After prices dropped 2% cents a bushel resistance stiffened and the drop was not so regular. The market developed a steadier undertone at that level. Attempts were made to buy September and sell December at 1% cents difference. Wheat receipts were 51 cars. Corn prices were irregular with September holding the center of interest and continuing high. Most transactions occurred around $1.07 a bushel. Liberal purchases to arrive, now around 150,000 bushels, were reported. Corn receipts were 35 cars. :

WAGON WHEAT City grain elevators are paying for No. 2 red, 94c; other grades on their merits, Cash corn, new No. 2 yellow, 89c. Oats,

WINNIPEG WHEAT Chge. —5%0 —%0

October December ....c.vcunvrinrsa M

LIVERPOOL WHEAT : Prev:

clos cesses $18 h55h 8 $15 28} 8c or 2874 $1. 301% cesesees 1.29% 1.28% 1.28% 1.30% sesess 1.23% 1.21%, 1.21% 1.23%

ARGENTINE GRAIN BUENOS AIRES, Sept. 16 (U. P.).—Grain futures opened irregularly lower: Wheat —November, $1.20%, off 2c, February, 97c, off lsc. i Eel s5%ac, off %c: N Yempen 55%c, off Yc. ats—Spot. 38%8, up 2 LL rr Jr 35%, off %c; Hoverber. $1.34%s, off !

NEW BOND ISSUES

(By W. L. Lyons & Co.)

id Asked .-104

Oct. Dec. March

Allis Chalmers cv 4s '52 ... ad City 3%s ’64 3& O 4%s ’'3

28 BF San Calif Oro Yore Cent Maine Ea -

Fla Power 5s Houston Lt & Power 3':s '66.1 Indps Water 3'2s ’66 Los Angeles Rev 3'zs "es Narra Elec 3'2s '66 1 N ¥ City 3s '7 . NY State Elec Ghs 4s '65

fe — HONDWNDITN—-NDDO

Ava NN

~ Dd a NY @ a Eon

Union Elec Westehester 3s Wisc. G & E 3's Wisc Pub Svc ds 61

LOCAL PRODUCE

(The prices quoted are paid for stock gathered in tke country, while for deliv= eries in Indianapolis the prices are 1 cent higher. Each Jai case of eggs must weigh 55 pounas g10. Eggs—No. r 5 ratiy fresh, loss off, 19

0Z. Heavy breed hens, 5 lbs. and over. 18c; Leghorn hens, heavy breed broilers. 1937 stock. 2 broilers, bareback broilers. over, 19¢; old. roosters. feathered and fat 5 geese, full-feathered and fat, 9.

1bs.. 4c. 1, 37@37%c; No. 2.

Butter—No. 35%c. Butterfat, No. 1, 31lc; No. 2. Bie

FOOD PRICES

CHICAGO, Sept. i6.—Sweet Potatoes—e Tennessee, bu. hampers, $1. Carrots—Illie nois, bunches, 1% ac. Spinach—Michi« gan, baskets, 75¢c@ Tomatoes—Michigan, 12-qt. baskets, 600. Cauliflower—Colo= rado, crates, 1.50. Peas—Colorado, hampers, [email protected], Celery — Michigan, flat crates, 40@65c. Onions. (50-1b. sacks) — Indiana Yellows, 70@77%c; a Selo? 70c; Idaho Valencias, $1@l.

BANK CLEARINGS INCREASE IN WEEK

NEW YORK, Sept. 16 (U. P.).-— Bank clearings in 22 leading cities for the week ended Sept. 15 exceeded the volume of the preceding five-day week, but fell 9.7 per cent. below the 1936 comparative, Dun & Bradstreet, Inc. reported today. a

LIVING COSTS INCREASE

NEW YORK, Sept. 16 (U. P.).—The cost of living of wage earners in the United States in August rose 0.1 per cent over July and was 4 per cent higher than last year, 24.1 per cent over the 1933 low point but 12 per cent under August 1929, the monthly survey of the Na= tional Industrial Conference Board revealed. Food prices eased 0.5 per cent from July to August and were 1.7 per cent above last year, 42.9 per cent over the spring of 1933 but 20.9 per cent under August 1929.

STYLED BY STEELCASE

MODERN OFFICE

- FURNITURE Modern and period de-

signs . . . at prices that will appeal to your sense of economy.

HAVE THE HOME YOU WANT

Steel Scrap, Chi. (ton) ........ 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.).... Crude Oil, 40 gravity (bbl.).....

Sources of Quotes—Chicazo: scrap and hides. Boston: Wool.

nellsville: Coke. Tulsa: Crude oil.

Wheat, No. 2 red (bu.) ........ Corn. No 2 vellow (bu.) ...... Rye. No. 2 (bu.) Oats, No. 2 white (bu.) ........ Flour, Spg. pat. (196-1b. sack).. Lard, prime steam spt. (1b.) ... Coffee, Rio 7s spt (Ib.) .... Sugar, raw 96 test (Ib.) ........ - Butter, 92 score (1b.) : Hogs, avg. most sales (Ib.) Steers, avg. most sales (1b.)..

$1.073% 1.0736 83% 331% 6.975 1095 09 0345 35 1210

17875 LAND BANK BONDS

Bid. Asked. Yield. 3s July 1955-45 ........100% 100'2 2.93 3s Jan. 1956-46 ...... 100% 100% 2.04 3s May 1956-46 ...... 100% 10045 2.94 3%s May 1955-45. .... 102% 102'2 2.88 4s July 1946-44 109 1092 2.47 4s Nov. 1957-37 ....., 10035 100% 4s May (}858-38 ...,.. 5d 102%

4%,s Ma 1957-37 .... 100 100% 4%s No F 1958-38 vine 10873 103%

$1.12 1.09% .86%4 33% 7.100 1045 .09% .0350 .34%4 1110 1775

$1.17 , 1.16 931% 4434 9.675 .1180 08 .0360 35 1005 0950

It takes as little as $2 per week to repay a $1 loan here. So why not select the home you want—then see us? Hundreds of people every month are buying or building their own homes through Railroadmen’s, using money that formerly went to pay rent. You can do the same as they. Let us show you how—no obligation.

. ended July 31|net income $10,599,797 ~equal to $4.28 a common share vs. $10,915,107 or $4.43 in preceding 12 months. : International Petroleum Co. Ltd. _ August crude oil output 2,838,897 bbls. vs. 2,936,170 in July; first 8 months total South American output: of company 23,113,252 bbls. vs. 22,337,217 year ago. | Union Bag |& Paper Corp., first half net oe $7,902,910 vs. $11,770,787 in all 1936,|$9,534,626 in 1935 and $6,422,043 in 1932.

RAILROAD REPORTS

Chicago, Burlington & Quincy R. R.| Co, week ended Sept. 11 2 gatlon ings 14,769 vs. 16.924 previous @ ve d 15,496 year ago. ‘ Gui Coast | Lines, week ended

23.25 4.25 2.25 60.00 52.50 095 1.27

Grains, East

23.25 4.35 2.25 60,00 52.50 095 1.27

livestock, lard, t. Louis: Zine.

New York: All others.

18.73 3.65 2.55 50.00 38.00 087 1.18

steel Con-

Only $200

Week

Thomson & McKinnon

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

Indianapolis Office 200-214 Circle Tower

MEMBERS 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 Beard of Trade Winnipeg Grain Exchange ‘And Other Leading Exchanges

LI. 5501

MUTUAL INVESTMENT FUND ® Founded in 1926 Common Stocks Intelligently Selected

Prospectus and Other Literature on Request

T.P. BURKE & COMPANY

INCORPORATED INDIANAPOLIS South Bend '

Available on Marion County Real Estate Only!

OTs

MLA AND LOAN RSS

Merchants Bank Bldz.

re Haute Fort Wayne