Indianapolis Times, Indianapolis, Marion County, 24 September 1937 — Page 28

ry ls cn sin A

~ PAGE

{ Lard, prime steam spt. (Ib) ...

SEPTEMBER CORN

Sends Yellow Grain Down.

CHICAGO, Sept. 24 (U. .).—The price of old corn, the last remnants of the 1936 ferop, plunged to $1.0634 a g¢bushel today on the Board of rade, after charges that the arket had been subjected to ‘manipulation” by interests fwhich sought control of the rop. At the end of the first. hour, howfever, short-covering had boosted he price to $1.073%, off 4% cents from the previous close. At the end of the first hour wheat was 1% to 12 cent lower. Corn was #5 to 414 cents lower and oats were 2s to 3; cent lower. The crop in corn shortly after the $opening was a loss of 5% cents from esterday’s close but a small rally

tcarried the price back to $1 08 a ushel, off 4 cents.

The Farmers’ National has been eported as the largest “short” inerest in a recent “fight” between it nd tthe Cargill Grain Co., of Min=eapolis, for control of the old crop. he statement issued today was #signed by representatives of 13 groups throughout the country hich hold membership in the co‘operative. £ A Congressional investigation will #be demanded by the Co-Operative Z“as soon as possible after Congress Cd the statement announced. + This investigation, the signatories gsaid, will “develop detailed disclossures of the misuse of the future $market since the passage of the ommodity Exchange Act.” Kenneth S. Templeton, president sof the Board of Trade, announced fthrough a spokesman today that ¥ There is nothing for me to say in “this matter.” William Engle, Farmders’ National president, was equally funcommunicative. The commodity Exchange Admin“istration office said no copy of the : charges had been received there and believed it was forwarded to CEA : officials in Washington. No specific basis for the charges ‘of “manipulation” were stated by the Farmers’ National, but it “is evidenced by recent price fluctuations,” ‘the charges said.

WAGON WHEAT City grain elevators are paying for No. +2 red, 98c; other grades on their merits. j Sash corn, new No. 2 yellow. 86¢c. Oats i 26¢,

WINNIPEG WHEAT Open Changs 1 OCLODEr +e:vcissrnnseensss. Sl. 43 Te December .c.csseereres.. -31.3 = 7c ! Ma : ae + 13c

ARGENTINE GRA! N BUENOS AIRES, Sept. 24 (U. P.).— ! Grain futures o Opened easy. Sotho October. . 56c, unchange Novem %c, un- ; changed. Wheat—November. $1.23%, u y Jac, Februaty: 987c. up J2c. Oats—Spot, 20%ic 33c. Flax—November, $1.34, up ! Yac; Februasy, $1.28%, up Jac.

LIVERPOOL WHEAT

High ose Close Secsves 413 1 1520s sh $1315 Ya

132% 1.31% 1.26% 1.267 1.2472

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 Anquiries or recent transactions.

BONDS

Cite, ala Ie (TH) 4%s 61 ...1 HT Ft W 5s 55 ...1 Ew 6s 43 .

sess ee

Trac Term Co

xBelt RR St Yds com ... xMelt RR St Yds pfd _. Cent Ind PoWaer. Ria 18 aces, xHome T & T Ft W 78 ...... EHook Drug In COM cocossas

a 0 A A A AC A SRA 5 ts [ol tio

: 3 : 3

(Bv M. P. Crist & Co.) Market St. Investing Corp ... 28.28 30.08

CHICAGO PRODUCE

CHICAGO, Sept. 24 (TU. P.) —Eggs—Market, easy; receipts, 5167 cases; fres graded firsts, 4c: extra firsts. 25c: current rets, 21%ec; checks, 17%zc; dirties. 19c. uster—Market, weak; receipts, 8172 tubs; extra firsts (90@91% score), 34@ 34%c; extras (92 score), 34'zc; firsts, 32% @33c; seconds, 28% @31'%c; standards, 34, @34%¢; specials, 35@35%c; centralized (89 score), 3c; centralized (88 score),

32%4c¢. 1 Markeb. easy; receipts. 1 car, 46 Fou hry Qe geese; ss ens:

he ens, ng 19@2 ci roosters; uGisc; Spine . 18@24c: turkeys, Cheese—Twins, aide daiises, 18% @19c; longhorns, 1 9c. Potatoes—sSupplies, heavy; démand, slow; market, gall to weak; Idaho Russet Burbanks, $1.35@1 'S. No. 2, [email protected]; Y ashi ngton Russet Burbanks, $1.90; ColoRed McClures, $1.10; North Dakota orth Dakota Bliss Triumphs, 85@90c; Notth Dakota Early Ohios, 85@90c; Wisconsin Cobblers, 90@95c. Arrivals, 89; on track, 411; shipments, 837.

DECLINES 4 CENTS ON CHICAGO BOARD

& -

: i al anipulation ChaBe

MARKETS AT A. GLANCE

Stocks break 1 to 6 points to new lows for the year. Bonds lower; U. S. Government issues irregular. Curb stocks broke to new lows. Chicago stocks lower. Call money 1 per cent. ’ Foreign exchange steady. Cotton futures lower and active. Grains in Chicago fractionally lower; September corn off 4% cents a bushel. Rubber futures lower.

Silver unchanged in New York at 44% cents a fine ounce.

Today's Business |: At a Glance

GENERAL BUSINESS

Federal Reserve reports monetary gold stock up $43,000,000 to record high at $12,694,000,000; excess reserves $1,020,000,000, up $140,000,000; circulation off $25,000,000; brokers and dealers loans off $44,000,000; ratio 80.2 vs. 80.0° previous week and 79.5 year ago.

: CORPORATION NEWS

Italian Superpower Corp. and wholly owned subsidiary, June quarter net loss $105,343 vs. $169,505 year ago. Kansas City Public Service Co., including bus operations, 12 months ended Aug. 31 net loss $263,323 vs. $90,886 in preceding 12, months. Montgomery Ward & Co. and subsidiaries, first half consolidated net profit $9,049,644 equal to $1.60 a common share vs. $7,101 856, or $1.40 year ago.

Valspar Corp. and subsidiaries, 12 months ended Aug. 31 net profit $310,468 vs. $10,776 in preceding 12 months. Arkansas Power & Light Co., 12 months ended Aug. 31, net income $1,497,793 vs. $984,864 year ago. Associated Gas & Electric Corp, 12 months ended Aug. 31 net $35,235,845 vs. $35,285,663 previous 12 months. Birmingham Electric Co. 12 months ended Aug. 31, net income $816,018 vs. $462,641 previous 12 months. Carolina Power & Light Co. 12 months ended Aug. 31, net income $2,551,744 vs. $1,805,116 previous 12 months. National Department Stores Corp., 6 months ended July 31, net profit $269,070 vs. $293,165 year ago. Peoples Gas, Light & Coke Co., 8 months ended Aug. 31, net income $1,771,161 equal to $2.67 a share vs. $796,026 or $1.26 year ago; August net loss, $199,291 vs. $212,199 year ago. Reading Co., August net operating income, $840,305 vs. $1,205,034 year ago; 8 months $9,820,744 vs. $8,908,304 year ago.

DIVIDENDS

American Home Products Corp., regular monthly 20 cents payable Nov. 1; record, Oct. 14. Capital City Products Co., 15 cents on common payable Oct. 8; record, Oct.. 4 vs. like payment in June. Consolidated Royalty Oil Co., regular quarterly 5 cents payable Oct. 25; record, Oct. 15. Electrical & Musical Industries, Ltd., 10 per cent for year same as year ago. General Reinsurance Corp. 50 cents payable Sept. 29; record, Sept. 24 vs. like payment three months ago. McLellan Stares Co., 20° cents on common payable Nov. 1; record, Oct. 11 vs. like payment ‘year ago. National Distillers Products Corp., regular quarterly 50 cents on common payable Nov. 1; record, Oct. 15. North American Rayon Corp., interim 50 cents each on Class “A” and “B” payable Oct. 12; record, Oct. 1. This is fourth interim on these two issues this year. Previous three were 50 cents each. Panhandle Eastern Pipe Line, regular quarterlies $1.50 each on $6 Class “A” and $6 Class “B” preferred payable Oct. 1; record, Sept. 22. American Thermos Bottle Co., extra 75 cents and dividend of 25 cents on common payable Nov. 1; record, Oct. 20 vs. like payment Aug. 2. Darby Petroleum Co., 25 cents payable Jan. 15, 1938; record, Jan. 4. Payment is regular semiannual. Textile Banking Co., regular quarterly 50 cents payable Sept. 30; record, Sept. 25.

tra 50 cents and regular quarterly 50 cents payable Nov. 1; record, Oct. 15 vs. like extra in August. : American «Meter. Co.; 75 cents, payable Oct. 15, record Sept.” 30 Vs. like payment in July. Cluett, Peabody & Co., regular payable quarterly 25 cents on common, payable Nov. 1 record Oct. 21. Detroit Gasket & Manufacturing Co., regular quarterly 25 cents on common, payable Oct. 20 record Oct. 5. Firestone Tire & Rubber Co., 50 cents on common, payable Oct. 20 record Oct. 5 vs. like payment previous 3 quarters. Massachusetts Utilities Associates, regular quarterly 62% cents on preJerre payable Oct. 15 record Sept.

(Copyright, 1937, by United Press)

Warren Foundry & Pipe Co., ex- |

EARLY NEW YORK STOCKS

By United Press

Acme Steel ....

> SE

ATHisirong Ck . Artloo Asso Dry Goods 15 ALepis 56%

Boeing Air ..... Borden Borg-Warner Dagens Brass .. Briggs Mig . 34 ; Briggs & Strat. Ys Bklyn U Gas. Bucyrus-Erie

Bond Stores ... 18% Burroughs .... 24% Butler E108 vee 13 Butte Co ees 4% Byers, S13, Byron Jackson 221 Burlington Mills 11%

.« 29

Cal Packing . g %

Callahan Zinc...

Canada Dry.. gan Pacific ... Case J I Caterpillar T.. Celanese Cent Foundry... Cent Viol Sug .

Chrysler ee City Stores. CCC & St L.. Cleve Graph Br Colgate P P. 1 Colum Gas .... Col Gas pf A . 8 Col Pictures te S20

Com Solvents : Commonw & Comnw & So pf Conde Nast .... Cong-Nairn .... Cons Edison . Oil Con Textile . Cons Coal vic.. Container ae. Cont Bak A....

Curtiss-Wr .. Curtiss-Wr A..

Davega Strs.... 11 Deere & Co....1

East: Kodak Elec Auto L ... 31

PS6 of. Equi 5 Bldg a

Fed Dep St .... Firestone T .... Flintkote Co Follansbee Foster Wheel .. 24

Gabriel A .... G I

Glidden ‘ Gobel, “Adolf ae Goebel Brew ... Goodyear .....: 303% Goodyear pf ...101% Graham Paige. . 2, 6%

Granby Gt *North of. Gt Nor Ore ... Green H Greyhound Cp.. He Guant Sug

Hall Print ... Ys Harb Walk .... 3

Hercules pdr . Houston Oil ...

| Hudson Motor..

Hupp Motor ...

111 Central ..... :

gric Int Harvester .. Int Mining .... Int Nickel Int P&P A .. Int x & P of ve Int T &'T . re

Johns-Man ....101

Kaufman DS .. 22 Kayser Jul .... 18%; Kennecott ..... 46 Keystone Stl .. 12% Kinney 4 Kress 30% Kroger G & B. 18%

Lambert .. Leh V Coal Lehman Lerner Strs

Net. Last Change —1 —_ 1 — Ys

65 13% 62% 1% 10 Ba vede in "1h

— i —_ Ya Vs

HETIL:

/2 35'%2 1 144% 133Ys

£1:

173

LEE

Bi LLLLIEERIE tL

100 -

17 112

35% 12% 50 2

89% 40%, 20%

Yesterday o........ 138.49|Year ago L Month AZO o.e00-0. 137.90/1937 low

daily price index.

Today $ 1.1214 1.145% 851% 33% 6.875 1140 09 0342 «35% 11975 «1825

Commodity— Wheat. No. 2 red (bu.) ccococee Corn, Ne. 2 vellow (bu.) .c..c. Rye, No. 8 (bu.) .....cco0c0000e Oats. No. 2 white bu.) ..ccvcee Flour, Spg. pat. (196-Ib. sack) ..

Coffee, Rio 7s spt Ib.) ......... Sugar, raw 96 test (Ib) ........ Butter. 92-score (Ib) ... Hogs, 290-330, good-choice (Ib.). : 1100-1300, choice ab.) «»

Week 280 ..-.c0.... 138.94/1937 high (April 5. 158.26

oe Following are the commodity prices used in compiling the

Commodity

. 133.14 (Sept. 1).. 137.05

Year Ago $ 1.1934 1.16% 993% - 46% 7.57 1152 073% 0340 34% 0983

Week Ago $ 1.07% 1.16% 85% 33% 6.950 1135. 09 0342 35% 11875 A755

Silver. comml. bars

scrap and hides.

Lambs, good (1b.).c.oeveeerueee $ Hides, native hvy. steers (1b.).. Wool, fine unwash. comb. (1b.). Cotton, Midupland (Ib. Silk, 13-15 deniers Jap (Ib) ... Rubber, spt. smk. rib (1b.) ..... Copper, electrolytic (1b.) .....ce Lead, spot (Ib.) ........cc000000 Zine, spot (lb.) .... Tin, Straits spot (Ib.) ........c0

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 (bblL).....

Source of quotes: Chicago: Boston:

Today

10125 J8% 41 0874 89 .1832 J4

59% 443% 16.75 23.25 4.25 2.25 60.00 52.50 095 1.27

Grains,

102.) ..oeen

seese

Wool.

PRICE INDEX AND COMMODITY QUOTATIONS

DAILY PRICE INDEX NEW YORK, Sept. 24 (U. P.).—Dun & Bradstreet’s daily weighted price index of 30 basic commodities, compiled for United Press (1930-1932 average 100):

Year Ago 0900 133%

Ago 1115 18% 41 0905

1.90

065214 068714

1853 a4 0652% 068714 59% 44%

19.75 23.25 4.25 2.25 60.00 52.50

1.27

livestock, 1 East St. Louis: Zine. nellsville;: Coke. Tulsa: Crude oil. New York: 3 i

1.18 lard, steel ConAll others,

DOW-JONES STOCK AVERAGES

; 30 INDUSTRIALS Yesterday .....ccc00e0000....153.98 Week a0 cc.cccevecnncscesss 162.15 Month ag0 .c.ccviesonseeses.175.91 Year 880 .....ccccivvnenes..166.20 High, 1937, 194.40; low, 153.98. High, 1936, 184.90; low, 143.11, 20 RAILROADS Yesterday «cc..ccccieniana... 4118 Week ARO wuosvss river aarnses 42.92 Month ago scccecevssceaasis. 49.40 Year ago i.ac..con. 3 f High, 1937, 64.46; Tow, 40.77. High, 1936, 59.89; low. 40.66. 20 UTILITIES Xi Yesterday o..ccceeviinennien.. 23.96 Week B80 ccesceccsccssecsnees 25.05 Month a0 c..coceecccseassss 27.23 Year ago High, 1937, 37.54; low, 23.96. High, 1936, 36.08; low, 28.63. 70 STOCKS

—3.47 2.60 -2.61 -—2.85

Yesterday .. 51.85 Week 280 ..cevcecevecasrss.s 54.38 Month B80 ..cocevessceeees, 59.84% Year 380 ..c.ecsorrivsviaives 61.33 High, 1937, 69.67; low, 51.85, High, 1936, 66.38; low, 51.20.

Net. Last Change 1434 Ya

High "Low 147% 14% wT 1% 382 4% 26 19%

Evans Prod .... Loft, In¢ ...... 135 Lone Star Cem . Long Bell, A .. Loose-W. Bis .. 14rllard Lou G & .

Ludlum Sti: ed

Mack Tr .. Macy RH .. . Manati Sug ... Man Shirt: .... Maracaibo Ex . Marine Mid ... Marshall Fld .. Martin Gl May D S McCrory McKeson & Rob McLellan St .. Mesta Mach ... Miami Cop .... Mident Pet ....

RETAIL SALES BAIN IN WEEK

Dun & Bradstreet Reports 3 to 7 Per Cent Gain Over Previous Period.

FHL ELL

22%,

NEW YORK, Sept. 24 (U. P.).— Shopping interest spread to almost all divisions of retail trade this week, Dun & Bradstreet, Inc., reported today, carrying the week’s sales totals 3 to 7 per cent over the preceding week and 8 to 22 per cent over the 1936 period. “As strength of consumer purchasing power was revealed by the intensified interest in the wide range of seasonal goods, buyers in wholesale markets covered with less caution the balance of their fall zequirements,” the review said. “Further curtailment of textile industries lowered sales for the week in New England states and the gain was only 5 to 12 per cent over the 1936 week. Stronger demand developed in the East where the gain was 10 to 20 per cent. In the Middle West gains were 10 to 20 per cent with some stores reporting an advance of as much as 40 per cent. In the Northwest the gains were 14 to 20 per cent, in the South 12 to 18 per cent, in the Southwest 15 to 25 per cent and on the West Coast 10 to 18 per cent.” The estimated wholesale volume was up 10 to 25 per cent from 1936 and the review said: “Given encouragement by the breadth of distribution thus far, retailers have revised upward their estimates of fall improvement. Many were back in the principal wholesale markets this week for additional supplies- of their best-selling items, while mail reorders were heavier to the women’s wear division, and frequently added complications to a congested delivery situation. With a fairly accurate appraisal of consumers’ preferences, retailers were more generous in covering the balance of their requirements for ihe current. season, and released more commitments for winter and Christmas merchandise. Business sent in by road salesmen revealed the widening purchasing power in rural sec= tions, and generally surpassed the volume in urban centers.”

BROKERS’ OPINION

"NEW YORK, Sept. 24 (U. P.).— Brokerage opinion today: : SHIELDS & CO.—Each day of disappointing rallying power reflected by the market emphasizes the bad effects of unnatural restrictions -and lessens trading incentive to a degree that leaves the list even more vulnerable to unexpected bad news. Constant threats of shock in news from the President's special will further limit dealings’ so that unless unexpected trade development or other news comes out only temporary interruption of the reactionary trend seems likely. HORNBLOWER & WEEKS—It is not to be expected that investors will resume an aggressive buying attitude until the volatile movements which have recently characterized its action subside. E. A. PIERCE & CO0.—We think the best policy is to buy on a scale down, allowing for further reaction. W. L. LYONS & CO.—Most speculators feel that until a real demand manifests itself, they will be unwilling to adopt anything like a constructive -attitude toward the market as a whole. \ _ ATKINS, HAMILL & GATES—At present low prices the market no doubt will prove very sensitive to any encouragement at all which may show up in the trade news.

i LAY D BANK BONDS

Bid_ Asked Yield 3s July: oe 5: jon,

1 3s Mey July 3 Nov. 4s May 4Yss Nov. 4Yss Nov.

1355-45 .

Tveessal0z

102% 2. cee... 100% 109'%2 2.47

.15 | Nash-Kelv ..... 15

Net. Last Change -— la

High Low Minn-Moline .. 8% 8% Minn-Mol pf .. 83 83 — 2 Mission Corp .. 19% =i Mo-K Tex . Va ones Mont Ward ... 46% — 135 Morrell ........ 30% Ya Mother Lode .. 7 Motor. ya —-1

Mur aL pt . 2108 nN

Nat Aviation .. 8% Nat. Biscuit «.. LL 8

LiLiil+

Nat Supply ... 26 Natomas ° Newport Ind ... t 22% N Y Air Bik ... 4 § Y Central ... 27%

P00 ONES = =i

Patino Mines oe DeorIass sures Penney enn.

hillips Pet ... erce O pf ... tts Sc & B

00 CY C000 = BD

s Il He

o. UUUVTUTTUUUTU ot

Ymoush 0il hs 2 B 1

% pitts Ck & Ie «10 Pre ser 51% Pub Se S120 Pub Serv’ "oi 11 Pullm . 3 P:

Rad . N Radio PN cova Radio-K-Or ....

eo Mot oD sti’ Ses 3D evere Ly eee 1% Reyn Met 18 Rey Met cucvpf 100° Reyn Tob B ... 40

St L-S Fran’... St L-S Fran pi. 37% Schenley Dist Schulte R 1% Sears Roebuck"; 75% sServel Inc ..... 41 Aston S H..2(% Snarp & D «Tn Shell Un Oil ...2k

South Ry . South Ry pt . ees Spalding ...... Sparks With .. Spencer K .... 2 Sperry-Corp ... Spiegel Inc Std Brands ... Std G & BE .... Std G & E pf. 12% Std G & E 6 pf 2613 Std G & E 7 pf 31 Std O Cal ..... 31% Std Oil Ind ... 39% Std Oil Kan ... 3515 Std Oil N. J ... 56% Stew-War ..... 14 Stokley Br ... Stone & Web Studebaker .... Superior Oil .. 3V Swift & Co ... 20% Swift Intl 28 11%

xw 9 Sunshine Min . 141% wT 97s

Tenn COrp «... Texas Corp ... Tex Gulf Prod. Tex G Sul T& PC & O .. Tex Pac L T .. Thermoid ..... Third Av Ry =. Thomp Star .=. .3% Thomp Sar.D pf. de 1.3

Transamerica. . Trans&West Air Trans & Wms. Tri-Cont Truax Tra 20th yok Fox. | . Twin Cy RT . Twin Coach ...

Union B & P .. 15 Union Carb ... 86% Un Oil Cal ... 21% Un Pacific ....103 n Tank ...... 30% Un Aircraft Cp. Un Air Lines .. it

Corp United Cp pf . 341% United Drug .. 9

14%

1 Vs Un Eng & Fdy. 4072 United Pruit .. 66% For Sec ... 11Y% S Freight ... 1134 S Hofman .. 80Ya S Hoffman pt 44

dd 2

ddddddddaddg nu

32 UnivCyc lopssti 1 16% Univ Yeats .. 622 Ut P & i 2 wes 138 Voie

Vadsco Sales ..81% 1% Vanadium ..... 23% Va-Caro Ch ... 5%

Wabash ’ Walgreen . Walker (H) Walworth ..... 10 Ward - Bak 4's

White Mot ..:. 17% Willys Overland 9% Wilson & Co .. Woolworth .... 42%

“15% 58%z

Yellow Tr ..... 15% Young Sheet .. 58%

nh]

Zenith Rad ... 33

LOCAL PRODUCE’

(The prices quoted are paid for stock PAE in the country, while for deliveries in Indiana ofica the prices are 1 cent higher. Each lu full case of eggs must weigh unds gros 5 “Begs No. 1 Strictly fresh, loss off, 19c

Heavy breed hens, 5 lbs. and over, 18¢c; Leghorn heils, 13¢; heavy breed oroilers, 1037 stock lbs. and over, 19¢: Leghorn broilers, Xba? stock, 2 lbs. and over, 17c; bareback broilers, 1937 stock, 5 lbs. and over, 1l4c; old JFoosters oe} pucks: tullfeathered and lbs over, is geese, a Sa tat, ud to 14’ Ibs.

Butter—No. 1, 382@300: Nos 2. 0 Butterfat, No. ‘1, 34c: No. 2, 32¢c.

U. S. STATEMENT

WASHINGTON, Se opt. 24 (U. P.).—Government expenses and receipts for the current fiscal year | through Sept. 22, compared with a year a Last

s Yea Yea, Expenses ..$1,806, 839; 853. 2 $1,527,730, 808. 56 Repeipts . 35 559.121, 1,074,880,408.03 ] cit oe 115 639.62 0032. "850, 400.53 . 2,863'116,830.50 6.253.043.41 180,281, gasat J Kia 780,446. 30 "865, 468,589 3.808,180,319.3 1693, 523,272 06 10. 786,153,798. it 105,21 15, 205.18 90.889.502.59 ays s Pur, Total Pur. .$13,405,595.80 $1,162,051,436.49

37c.

Customs .. Inac. Gold .

HOGS ADVANCE 10 T0 25 CENTS IN LOCAL YARDS

Lighter Weights Gain Most As Fewer Receipts Appear.

‘Hog prices staged a rally today, largely due to light receipts, according to the Bureau of Agricultural Economics. Eastern pork markets were as much as $2 lower in extremes, but the live trade here worked upward independently. Top on the schedule was $12.50, but a

,Ishort load of strictly choice 210-

pound weights turned at $12.55. Prices on barrows and gilts were 10¢c to 25¢ higher than Thursday, weights below 160 pounds showing the maximum advance. Lightweight

| sows gained 25 cents to top at $11.50.

Bulk sows at $10.50 to $11.25 were unevenly steady to 25 cents higher. Aside from a load of 1218-pound steeds at $17.75 little else appeared in the cattle pens for the day’s market worthy of detailed comment. It was a rather wobbly trade all through the list, comomn and medium heifers showing further weakness, while cows were barely steady at Thursday's downturn. Most heifer salés ranged between $7 and $9. Cutter and low cutter cows

2 brought $4 to $5.50 with grass fat

cows largely $6 to $7, a few good grade upward to $8. Except for some weakness, vealers did not respond to the lower trend at nearby centers Thursday. Shippers were well equipped with orders and as competitive points worked upward today, local values managed to stay at a $12. 50 peak. Spring lamb prices "held unchanged under a moderate run of this class. Buyers could not be talked into paying above $10.50 for the available offerings, usually grading only good and below.

HOGS

'[email protected] [email protected]

$ient Lights— (140-160) Good and choice. 31%: 23612 30 Medium

A 0.75@12. htweights Lis $160-180) ¢ Good and choice.. 12. 8 13: 35

Medium (180-200) Good and ‘choice. . . [email protected] Medium

. [email protected] Medium Weights— (200-220) Good (220-250) Good Heavyweights— - (250-290) Good 350) Gpod and i

and choice.. 12.15@12. and choice.. 12.35@12. 30

and choice... IL 90 12 40

1.40

5 dg S8aiite 30 Slaughter ‘pig (10 0-140) 3 2nd choice. . 1 S211 3 —~—Receipts. 600— CATTLE —Receipts, 600— Steers

eesseessses 13.00 .. 11.00@

esessvone) arming

17.00

550-900) Choice i Good 15.00

Ci (900-1100) Cc

ium .e Caan, (plain) Prime Choice GOOd .s.evscececss Medium eceeeccese Prime Choice Goo

7.25@ [email protected] [email protected] [email protected] [email protected]

(1100-1300)

(1300-1500)

eas reans 6.25018.00 [email protected]

ssscesssven

Heifers

(550-750) Good” aes [email protected]

Good and choice = Common, medium.

Cows

(750-900)

Common, medium Low. cutter and cutter .......

Good (beef) Cutter, common and medium. .

Vealers —Receipts, 600— Sood ang choice .

Calves

(250-500) Good and choice.. 9.00 mmon, medium.. 6.00

Fos and Stocker Cattle

Steers (500-800) Sood. and choice. . n, medium. (800-1050) Good od choice. . mmon, medium.. 6. Heifer,

Good d and choice oS Common and medium .. ow!

Good... and medium SHEEP AND LAMBS —Receipts, 1500— Spune. Jambee.

esscessnsesangprese ar

Doma bataboda oh oe rove

oa a0 WONO

tad

(90-115) Good and choice. . Common, medium..

By United Press

CHICAGO, incu 24 (U. —Hogs—Receipts, $000, ti Juding Roo. ion Market stea . cents lower; butchers, 260 ; good 21d P, 1bs., $12.30 . $11. 90@12. 40; AS0s 180 1bs. 81.75 acking sows; $10.75@ 11. 10; $11 5 Si ‘on Ph htweights. _Caftle— Receipts, 2000; calves, 500. Narrow market, crop mostly lightweights and yearlings to sell downward f $1.140; and common hieisers steady; strong weight cutter Cows, $5.75; fat grass beef cows, [email protected]; Reign ty kinds upward from $8, in demand; bulls scarce, Quotable to $7.50; vealers strong, $13.50 dow: Sheep—Receipts, 8000; ig 3500 directs. Spring lambs. slow; mostly 25 cents lower on natives: $10.50 with best, $10.75: sheep weak to 25 cents lower; ewes, $3.50

AYNE, Eept. 24. pops Markel. igher: 200-225 lbs., $12.25: Sent 2.15: bs Sv $ 3% 160-50-275 1bs. : 275-300 1bs., 0-350 1bs., 1.35; 150-160 1bs.. 5: 140-150 lbs a 1sbia0 Jos, $10. 18; 20-130 1bs.,: $1 10.30: 100-120 1 $10.25. Rou hs, 35 stags, $8.50; aos: $12. %:

lambs, $10.25. 2 Hop P.). i : bulk 200- E325 Tis13. [email protected]; a7

LAFAYETTE, Sept. 34 Market, 10 to 25 Se ents h 1 3 7 dap

150 lbs.. $10.75@11; 100-130 1 Rough, ar down. Calves, Si, Lambs,

FOOD PRICES

CHICAGO, Sept. 24.—Sweet Potatoes— Tennessee, bushel hampers, 75@85c, Carrots—Illinois, bunches, 1@2c. Spinach— Michigan, bunches, 50c@$l. Michigan, Jp baskets 25@50c. flower—Colorado, crates, [email protected]. —Colorado, hampers, $2 2.15. Cell Flat crates, 20@40c. Onions (50-lb. sacks) —Jowa and Minnesota Yellows, 85c; Utah Valencias, 85c; Idaho Valencias, 77%ac.

BANKERS TO STUDY CREDITS CHICAGO, Sept. 2¢ (U. P.).— Plans for an impartial and scientific study of American banking, credit and other financial problems were announced today by Robert Strickland of Atlanta, Association of Reserve City Bankers president.

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137 E. WASH. ST. RI-1888.

417 Circle Tower

‘We Buy ind Sell: Indianapolis Railways, Inc. 59, General Mortgage Bonds

Prices Quoted. on Request CITY SECURITIES CORPORATION

LI ncoln 5535.

{1935 low ..ce00s

8. ran. 25 6.50 .00.

[email protected]

N. Y. Bonds

By United Press BOND PRICE INDEXES

20 20 20 Inds. Rails Utils. 89.3 84.8 91.0 90.3 85.8 98.5 91.9 . 90.5 100.8 92.5 99.2 . 105.8 89.7 80.3 100.5 95.0 101.2 106.0 89.3 84.6 97.4 94.8 100.4 106.2 90.0 84.7 103.5 91.4 86.4 103.6 83.6 71.0 89.3

-60 Bonds 90.3 91.5 94.4 99. 90.2 100.7 90.6 100.2 93.3 93.1 83.0

Yesterday ..... Week ago ..... Month ago .... Year ago ...... Two years ago 1937 high ...... 1937 low. ...... 1936 high ...... 1936 low ec.cen 1935 high ...c..

U, 8. GOVERNMENT BONDS Treasury Bonds ’ High Jats-10 JU eee...105.25 104.

Soa 5 esssss.115.25 1951-48 100.19

Low Last 105.25 108. 24 104. 115.25 135° 25 100.17

104. 19 104. 19 99.22 . 102.18 100.20 99.16

59-56 reg . Home Owners Loan Bonds

1949-39 .100.21 100.21 1944-42 tees...100.16 100.13 1952-44 102.12 102.12 DOMESTIC BONDS Am & For P 5s 2030 .. 64 Anaconda C 4%s 50 ..105 B & O 4's 60 . 56 Can Pac deb 4s perp .. 93% Cen Pac 5s 60 847% Ches & Oh Bas 36 ane 96 Chi “Hast Hl 55 5 ChMStP&P 5s 2000 “ee Chi N W-4%s 49 ...... 1 Chi R I ref 5s 34ct Erie ref 55 76 ...ccce0e Brie ref 55 67 ...v0une

ar Nor 45s G 46 ..00...115% Gt Nor 4s H 46 .......105%\ Chi W Ind 4%s 62 .e.0100% Ce SEE 1 .. 85 Col G E 58 52 May .... 98% Contain Cor 2s 46 .103

2%s 2Yas 3s

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Kresge Fou 4s 45 Lou & N 33s 2003 ... Mo Pacif cv 5'%s 49 .. Mo Pacific 5s I 81 .... Mont Pow 33s 66 ... 9 Nat D P 3%s 51 ww . Nw Eng T & T 5s 52 . 1920 N Y Cent ref 5s 2013 ©. 91%

N Y Cent 4'2s 2013 ... 81 - 32%

sees

Shell Un O 3%s 51 ...

ooo 993 Young S & T 4s 61. Li101% FOREIGN BONDS

High Cuba 5%8 45 ceceessees 58Ya French 75 49 .eceeeeee.112 Japan 6128 54 ..ceeeee. 80 Japan 528 65 cecoe.ees 67 Peru 6s 60 ......co0000 15%

Curb Stocks

99 99 101% Low 57% 112

80 6612

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BANK STOCKS

Bid Bank of Manlisitan ssessssssss 26 Bankers T «. 5512 Bank o .450

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Chemical Se Commercial er ies Continental ......ce00000000ss. 14% Corn Exchange 56

Title Guarantee ee . Insurance Stocks Asina F Fire Connecticut General . Continental Casualty ..... Firemen's. of Newark

Gibraltar Fe Jaa, Marine ing: Glenn Falls F . Great America Jre a Great American Ind Halifax Hartford Fire .... Home Fire Se€C .....ceac0s00000 Maryland Casualty .ceceeeeen National Liberty :ssceccecsces Paul Revere Fire Ins Phoenix Fi Sun le Travele Westchester Fire

FOOD PRICES ADVANCE

NEW YORK, Sept. 24(U.P.).—The weekly index of wholesale food prices, compiled by Dun & Bradstreet, Inc., in the week ended Sept. 21 rose to $2.92, the highest level since the week of April 6. In the preceding week the index stood at $2.89, while a year ago it was $2.78. Increases were recorded for flour, wheat, rye, oats, bacon, lard, butter, cocoa, eggs, steers, sheep and lambs, while declines were registered by corn, barley, pork, sugar and hogs. :

esessssssnns

_ FRIDAY, SE . 24, 1957 |

SECURITY TAXES BOOST FEDERAL BANK ACCOUNT

Trust Money Is Included in Receipts on Treasury Statement.

By MARSHALL M’NEIL Times Special Writer

WASHINGTON, Sept. 24.—On the face of the latest Treasury figures, your Federal bank account looks a little better—but there's a catch

in it. The rosy sides are three: 1. The deficit thus far this fiscal year is less by nearly $150,000,000 as compared to the same period last year. 2. The gross national debt is down from the peak of $37,000,000,000plus to $36,860,862,755, according to the Treasury statement of Sept. 18, from which all these figures are taken. > 3. Receipts are up $425,500,000 as compared to last year—but there's that catch. Income taxes thus far this year are up by $160,800,000. Miscellane« ous revenue receipts increased by $75,500,000. But included in that total rise of $425,500,000 are your Social Security taxes—money which the Government is only holding in trust for you, but which is included in receipts on the Treasury statee ments just like income tax receipts, Panama Canal tolls, etc. Taxes under the Social Security program have yielded $152,845,000 so far this year; and there was no comparable revenue last year.

. Customs Increase

Likewise, the “unjust enrich« ment” tax yielded no returns in the same period of the last fiscal year, while it has brought in $691,400 this year. Taxes on railroads and other carriers and their employes—another trust fund—yielded $84,999 this year and nothing last. Customs duties increased by $14,492,000 this year. So, total receipts in the fiscal year 1938 to date are $1,439,975,000 as against $1,014,472,000 in 1937. But, meanwhile, expenditures have gone up. For the first two months and 18 days of this fiscal year, total expenditures were $1, 724,051,000. This compares with $1,446,512,000 last year, a rise of $2717,53%,500. Thus, the deficit so far this year is $284,076,800, against $432,040,300 a year ago. The gross national debt, which was $33,812,600,100 up to this point last fiscal year, is now #5, 048,262,000 greater.

INVESTING COS

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NEW BOND ISSUES

(By W. L. Lyons & Co.) Bid Asked Allis Chalmers cv a "52 «jeuss dl : au City 3Ys 9 B & O 4's . Beth Steel 3% iesenneeen & B F Avery Sos 5s 47. verssees101 Calif Oro Pwr. 45 ’66 .veceaeee. 9134 Cent Maine Pwr 4s '60 .......102% Cent Maine yl) 3%25 "66 cen... 95% 96a San G & E 348 "67 veeeeed 10434 5... C M O 2%s '42 ..... Fla Power 4s id ols Fla Power 5s ’6 . 92 Houston Lt & LES 312s 66 11023, Indpls Water 32s ‘66 ...:... 99% Los Angeles Rev 31s 77 .... $,]8% 3021 Ie ‘66 . go Y

gy Sas "4s '65... Taare 312s 67:.s0 972 Ohio Public Service 45 '62..4+.102% Pac Lighting 42s '45 ........104%, Scott Paper Co 314s 152 vo... 108 Union Elec 3s 42 ...........1027% West ser iy 67 ..

Wisc Pub Svc 48 ‘61 .........104%

FOREIGN EXCHANGE

NEW YORK, Sept. 24 (U. P.).—Foreign exchange opening irregularly higher, t

CC Cabl le Rates Change 41318 4.00 1-168 -16 .00 1-16

teersessesenns 34 >

England (pound (60-d. bill rate) i941 a (dollar) . 1.09 rance on) ely. [taly (lire) Belgium thelga) aes Germany (m Switzerland ffranc) Holland (guilder) .. Spain (peseta) Sweden {irops) Norway (krone) ... Denmark (krone) Fes Japan (yen)

4.000014" +:0000%5 2.0000%

—.0000%4 4.0005 —.0000Y2 —.0001%2 —0000%2

Commercial Banking Savings * Trusts:

American National Bank AT INDIANAPOLIS

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

Indianapolis Office

Thomson & McKinnon

New: York Stock Exchange New York Curb Exchange New York Cotton Exchange : New York Coffee and Sugar Exchange New. Orleans Cotton Exchange

200-214 Circle 20,

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