Indianapolis Times, Indianapolis, Marion County, 29 September 1937 — Page 15

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5% soul

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“opened at 26, off 17%,

WEDNESDAY, SEPT. 29, 1937

FOREIGN WEAKNESS

SENDS STOCKS OFF 2 43 BONDS DECLINE

= NEW YORK, Sept. 29 (U. B) —Nervous selling abroad ee git heavy offerings here today that resulted in losses extended to more than 2

points.

Domestic corporation bonds de--clined under lead of rails in fairly active trading today. U. S. Government funds were mixed. Trading quieted after the initial offerings but only minor support developed. U. S. Steel opened at 79%, . off 3, rallied to 80% and then dropped back to the opening. Bethlehem at 681% was off 27% after

showing more than 3 points loss at “the opening.

Chrysler opened at 89%, dropped to 88% and then rallied to 89% where it was 13 lower. General Motors had 1% loss at 48%. Metal shares were weak, Anaconda losing 21, to 37%. _ Some rails were heavily sold ineluding New York Central which and rallied *fractionally and Southern Pacific which was almost 2 points lower.

_ Utilities were quiet.

» # 2

; Today's Business

At a Glance

GENERAL BUSINESS

American Petroleum Institute reports week ended Sept. 25 crude oil output averaged 3,666,300 barrels .daily, off 4900 from previous week; ~ gasoline stocks 65,620,000 barrels, off _ 437,000. Edison Electric . Institute reports

" week ended Sept. 25, electric output 2,200,748,000 kwh vs.

2,280,792,000 previous week and 2,107,807,00 year

. ago.

~ CORPORATION NEWS

Thomas J. Lipton, Inc, and Thomas J. Lipton, Ltd, 7 months ended July 31, net profit $489,779, equal to $1.40 a class “A” share and 82 cents a class “B” share. RAILROAD REPORTS Boston & Maine Railroad Co, August net loss, $176,812 vs. net income $180,839 year ago; eighi months net income $482,959 vs. net lpss $2,591,896 year ago. - Louisiana & Arkansas Railway Co., August net operating income, $122, 272 vs. $132,999 year ago; eight, months $818,430 vs. $936,984 year

ago. Southern Railway Co., third week

: ‘September gross, $2,565,708, off $41,-

438 from year ago; year to date, $97,011,321, up $7,846,750 over year

5g5. ssoeodd Gas & Electric Co,

or ended Sept. 24, electric output 90,551413 kwh vs. 3.8 per cent over year ago. Eighth Avenue Coach Corp, August net income $26,218 vs. $22, 979 year ago. : Blectric Power & Light Corp., 12 months ended July 31 consolidated net income $9,458,267 equal to $1.09 a common share vs. $6,131,525 or 12 cents in preceding 12 months; 3 months ehded July 31, net income $1,718,033 equal to 8 cents a common share vs. $1,346,760 or 77 cents a second preferred share year ago. Madison Ave Coach Co. Inc, August net income $15,135 vs. $11,836 year ago. . New York City Omnibus Corp. and subsidiaries, August net income $100,142. United Gas Corp.,. 12 months ended July 31 consolidated net income $11,438,261 equal to 27 cents a common share vs. $9,160,602 or $6.79 a second preferred share in preceding 12 months; three months ended July 31 net income $2,028,257

or $140 a second preferred share

vs. $2,228,049 or $1.63 year ago. Universal Pictures Co. Inc. 13 weeks ended July 3 consolidated net loss $627,933 vs. $105,069 in 13 weeks ended May 1 and $579,370 year ago; 39 weeks ended July 31 net loss $1,136,968 vs. $812,474 year ago.

DIVIDENDS

Allied Chemical & Dye Co., regular quarterly $1.50 on common payable Nov. 1, record Oct. 11. Jeannette Glass Co., deferred action on preferred. Lane Bryant, Inc. regular quarterly $1.75 on preferred payable Nov. 1, record Oct. 15. Sypmone Co., interim 175 cents payable Oct. 18, record Oct. 8, vs. 50 cents in July and April. = - Simplicity Pattern Co. 25 cents on common payable Oct. 15, record Oct. 5, vs. like payment July 1. Southern New England Telephone Co., $2 payable Oct. 15, record Sept. 30, vs. like payment July American Can Co., regular quarterly $1 on common payable Nov. 15, record Oct. 25. Hershey Chocolate Corp., regular quarterly 75 cents on common pay‘able Nov. 15, record Oct. 25. “Link Belt Co. regular quarterly 50: cents on common payable Dec. 1, -record Nov. 15. : . Pan American Airways Corp. 25 cents payable Nov. 1, record Oct. 20, 5 like payments in previous quarrs. Reading Co., regular quarterly 50 cents on common payable Nov. 11, ‘record Oct. 14.

'.. Revere Copper & Brass, Inc., regu- |.

lar quarterlies $1.31% on 5% per cent preferred and $1.75 on T per ‘cent preferred payable Nov. 1, record Oct, 11. William Wrigley Jr. Co., special ‘50. cents payable Nov. 1, record Oct. 20, and three regular ‘monthies of 25 cents each payable Nov. 1, Dec. 1 and Jan. 3, record the 20th day of each preceding month. On May 1 special 50 cents was also paid. -. Central Foundry Co., Dividend in equal to $5 2 share on erred on accumulations due Jc. 1, 1936 and March 1, June 1 and ‘Sept. 1, 1037, payable out of earned lus on Oct. 15 record Oct. 1 in common stock or in scrip representing fractions of common stock at rate of one full share of common for each $10 of: dividends. PO! {Industries, 75. sens in

MARKETS AT A GLANCE

Stocks lower and moderately active. Bonds irregularly lower; U. S. Government issues irregular. Curb stocks lower. Chicago stocks lower. Call money 1 per cent, Foreign exchange narrowly irregular. Cotton futures decline 25 to 50 cents a bale. Grains in Chicago: Wheat off 3¢ to 34 cent a bushel; corn 15 to 3% cent. Rubber futures sharply lower. Silver unchanged in London at 197% pence a fine ounce.

N. Y. Bonds

By United Press BOND PRICE INDEXES

20 20 20 Inds. Rails Utils. 88.2 82.4 96.3 89.6 84.8 97.4 91.7 89.8 100.4 92.3 98.8 105.8 89.7 80.8 100.7 95.0 101.2 106.0 87.9 82.0 96.4 948 1004 106.2 1936 low ...... 90.0 847 103.5 1935 high ..... 91.4 86.4 103.6 93.1 1935 low . 83.6 91.0 89.3 83.0 (Copyright, 1937, Standard Statistics Co.)

NEW YORK, Sept. 29.—Curb opened irregularly lower, Open Change

Am For Pow 5s '2030 senesess 66% Argentine 4s Feb '72 . & O 55 95

60 Bonds Yesterday . 88.9 Week ago ..... Month ago .... Year ago ...... Two years ago 1937 high . 1937 low 1936 high .....

94.0 99.0 90.4 100.7 83.8 100.2 93.3

ssesne

stocks

7 strirare samara 10iT5 66%

sssssevsssnsses

Curb St Stocks

NEW YORK, Sept. 29.—Curb opened lower.

stocks

Open Change

Am oe os D1 —>8 . 3 1 Cities oe , , C 6 y 1 B , 3

SS Newmont Min . iag Hp ir OY; Pantepec Of orereeraeniniis 5% TechniColor .c.eveeccsnenedes 2538 URLL& PA ...coiisnvvavsen 3%

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

Citz Ind Tel (TH) 4Yis 61 ... H Tel & Tel Ft W 52s 55 ... H Tel Tel Ft W 6s 43 Ind Asso Tel 4'25 65 ........ Indiana Tel CO 5s 60 Ind Ralways Inc 5s 67 Interstate Tel & Tel 5's 54 . Indpls Water Co 3'2s 66 99 Kokomo Water Works 5s 58..103'2 Morrs 5 & 10 Stores 5s 50 ...103 Muncie Water Works 5s 65 ..103'; Noblesville H L & P 6'2s 47..101 Ohio Tel Serv 6s 47 100 Pub Tel 5's 55 .. ave ee Richmond W W 5s 57 Seymour Water Co 5s 49 . T H Trac 44 T H Water ‘Works 6s 49 Trac Term Co 55 57 .. ....en STOCKS xBelt RR St Yds com.... . xMelt RR St Yds pfd ......... Cent Ind Power pfd 7s... XxHome T & T Ft W Ts . XHook Drug Ine com .. xInd & Mich

Bid 1002

Indpls Gas Co com xIndpls Pwr & Lt p xIndpls Pwr&Lt bo Gi xIndpls Water Co pfd 5s . Lincoln Natl Life Ins Co com. P R Mallory com xN Ind Pub Serv Co pe 5158 64 xN Ind Pub Serv pfd 6 71 xN Ind Pub Serv pfd 7s Progress Laundry Co com 6s .. Pub Serv of Ind pfd 6s. A Pub Serv of Ind pid 7S an Smith Alsop P & V id wane Smith Alsop P & V ¢ sas Terre Haute Elec Co Lom ceive. 95 Union Title Co com . Van Camp Milk Co pfd Van Camp Milk Co com

Exdivided. (Py M. P. Crist & Co.) Market St. Investing Corp. ... 28.08

OTHER LIVESTOCK

CHICAGO, Sept. 29 (U. P.).—Hogs—Receipts, 12,000, including 3500 directs: active, steady to 10c lower; bulk good and choice 190-230 1lbs., $11. '90@12. 15; top, $12.20; most good and choice 150-180 1bs., $11.40@12; best 180-l1b. averages, $12.10; oRpraanie 240-300 1bs., [email protected]; most good sows, [email protected]; lighti to $10.80. Cattle—Receipts, 8000; calves, 1200; medium, good grades steers, slow, steady: highly finished kinds, firm, strong to higher; early top, $10 50; shestock, steady; cows, strong shade higher bulls, vealers, steady: TR and feeders, | slow, 25@50c lower; good and choice stockers and [email protected]; common and medium grades, $6.50@8; vealers, $12.50. Sheep—Receipts, 9000, including 2000 directs: native spring lambs, [email protected]; top, $10.50; good; sheep, steady to easier; slaughter ewes, [email protected] mostly.

WAYNE, Sept. 29 (U. P.).—Hogs—

Roughs, stags, $8.50;

calves, $11.50; lambs, $9.75

LAFAYETTE, Sept. 29 (U. P.).—Hogs market steady: bulk 200-225 lbs. 1 1 225-250 Fos $11.90@12; : 170-200 1bs.. $11. [email protected] 130-150 1bs. 0.18! 100-30 1bs.. $9. [email protected]; 5 down; calves, $11 down; lambs,

BANK STOCKS ank of Manhattan

verve nren 71% Bankers Trust avess. D6 ank of New York Trust . 3rooklyn Trust Contral Hanover

has Chemical ce Commercial .. oe Continental ......., gon so3change caine

“roughs, 9@

National City i Fey York Trust ..

Public . Title Guarantee’ Raises AYIA

CAL PRODUCE

(The prices quoted are paid for stock gathered in the country. while for delivBie s in Indianapolis the prices are 1 cent er. Each ful case of eggs must. weigh pas pounds gross.) Eggs—No. 1 ‘strictly fresh, loss off, 2ic

Heavy breed hens, 5 lbs. and over, 18c: Lo “orn hens 13c; a breed broilers, t g over, 19c: Leghorn 2 lbs. and over, 17c: 1937 stock, 5 lbs. and 9c: ducks, tullat, 5 lbs aol oveL je; oo full-feathered and fat, 9 to 14 Ibs C

ter—No. 1. 38):83%: No. 2. 36%@ Butterfat, No. 1, 34c: No. 2. 32c.

U. S. STATEMENT

WASHINGTON, Sept. 29 (U. P.).—Government expenses and receipts for the current fiscal year ihtough Sept. 27, compared with a year 2

Thi $1 875, 196, 911. 38 $1, 603. Sea. 557. 50 1.815.585 1980. 58 1,105,150,388.1

cae

But 3c.

Expenses Receipts .

Pub. debt 36,867,962,094.57 33,834,082,1 5 Gold res. $12,720,942,151. a 10, 799,145,543. Customs. . 111, 715, 422.4 95.620.537.5 Inac. gold.

1947, payable Oct. 26 record Oct. 15 vs. like payment in July. Zenith Radio Corp., 50 cents payable Oct. 30 record Oct. 15 vs. like payments in thise previous quarters

'oday’s Pur. Total Pur $3.664.007.04 $1,189,450,495.76

90.6

THE INDIANAPOLIS TIMES

PAGE 15

Addressograph.. Adv Ru Srap

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A A ‘A A

eg Cp pf $30.

Rad& ie Roll Mill .. Roll Mill cv safe Razor. Seating ... melt .. 3tOTES sees SUBAT sees

cease

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Aviation Corp ..

Bald Loco ct wi & Ohio.

Callahan Zinc . Calumet & H

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Col Fuel & Iron Colum Gas .... Com Credit Com Inv Tr .... Com Solv Comw & So .. Comw & So pf Cong-Nairn .... Cong Cigar .... Cons Aircraft .. Cons Cigar .. Cons Edison Cons Oil Con Textile Cons Coal vtec .. Container . Cont Bak A

Sumat ..... 20% r&T ..162% 76

14%

NEW YORK ST OCKS

h Corp os Cp 0 "$30 18

16% 26

0Ys 162 Ya 18%

Coty . /8 Crane Co cv pf 105

Crown Cork

Crucible St .... Cub-Am Sug Cudahy . Curtis Pub Curtis

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Diam Match. . Diam = Mot Dist Reag Doehler B Cast 33% Dome Mines .. Douglas Air Dresser B Du Pont

Eaton Mfg ....

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Ev=c Auto Li... Elec

Boat

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Flintkote ...... Foster Wheel ... Francisco Sug . Freept- IP ry.

Gen Gen

Am Tr ... Baking

Gen Gen Gen Gen

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Harb-Walk ....

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Hupp Motor . : :

Herc Pdr Rts. .

Ingersoll Rand. 102 Inspiration Insshs

1 Central .

cts

Inter Inter Iron

Ag p Besiness M. Harvester .. yd El A

Kan C Sou Ee Hoses A Kennecott .. Keystone Stl .

y H aracaibo Ex .. arshall Fld

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Net Last Change

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Bv United Press,

DOW-JONES STOCK AVERAGES

30 INDUSTRIALS Yesterday ....c.cecc00. 153.16 Week 220 ..c.ccccesvee. 157.45 Month 2320 cccocssessss 173.08 Year aZ0 c.ccocccsesss 167.82 High 1937 ....ccc0eee0.. 194.40 High 1936 ............ 184.90 20 RAILROADS Yesterday .... 40.83 Week ago ...coceeseess 42.33 Month aZ0 «..ceoeeseee 48.21 Year ago 55.88 High 1937 61.46 High 1936 59.89 20 UTILITIES Yesterday ...... 24.08 Week ago 24.58 Month ago .cececoesssss 26.73 Year ago ...eseescscecs 34.09 High 1937 37.50 High 1936 36.08 acl STOCKS 5158 53.08 58.75 61.90 69.67 66.38

+113 40.89 —4.33 —0.66 147.38 143.11

+0.43 +0.02 —1.30 —0.45 Low 38.93 Low 40.66

tresses

sscescsssnnce

sssesssccscse

40.33 —0.05 —0.65 —0.15 Low 22.77 Low 28.63

ssscccssscseny

+-0.16 +0.19 —1.51 —0.32 Low 49.144 Low 51.20

Yesterday «cooecscecen Month ag0 cceeesccssss Year ago High 1937 ccccesnsscesee High 1936 ...cocceenesee

sssssesscscsne

High Low aytag covee.se a TVs cCrory 133; 13% cIntyre Porc.. 35 cKesson & Rb 1034 ead Corp .... engel esta Mach ... iami Cop .... 14 ident Pet .... inn-Moline ...

Monsanto Mont Ward .. Mother Lode .. Motor Whi ... Mullins Mig B Murphy pf ...

Nash-Kelv .... Nat Acme Nat Aviation .. Nat Biscuit

ELECTRIC EQUIPMENT SALES HOLD STEADY

Fall Trade to Compare Well With 1936 Volume.

NEW YORK, Sept. 29.—Sales of

volume, and the latest appraisal of business indicates that fall trade in this line will compare favorably with that of a year ago, Electrical world said today in its weekly review. Retail sales were reported holding above 1936 figures, while manufacturers, with good backlogs, are continuing high operations. A single disappointing spot in the trade is the lack of new building construction orders, the trade publication said. “Developments scarcely can be called excellent,” summed up the review, “but actualities and potentialities are of such a nature as hardly to warrant pessimism currently shown by the stock market.” In the immediate outlook it was reported that utilities are rushing rural line construction before winter sets in to retard work and several new generating plants have been planned and are shortly to be built.

BROKERS’ OPIN (ION

NEW YORK, Sept. 29 (U. P.)— Brokerage opinion today: HORNBLOWER & WEEKS—An irregular extension of the recovery movement, featured by a series of ‘alternate minor rallies and declines during the next week or 10 days, would be more indicative of a sustained resumption of the uptrend than would a straightaway advance at this time. A movement of the former type is to be desired in order to encourage investment accumulation, rather than buying of a purely speculative nature, thus laying a strong foundation for a sustained reversal in prices, lasting from six to 10 weeks.

REDMOND & CO.—Following a short period of consolidation and irregularity around current levels, we would expect the market to continue its recovery beyond the minor technical limits reached in yesterday’s trading rally. FRAZIER, JELKE & CO0.—We think stocks now are in an intermediate rally in a bear market and that this rally is likely to extend further, but until there is more convincing evidence of a change in the longer pull trend, we would confine all purchases to a trading basis.

W. L. LYONS & CO.—If selling holds off, as it did yesterday, for a short time longer it may be that the professionals will once more take heart. ATKINS, HAMILL & GATES— When the public recognizes the significance of the new movement another violent inflation scare might be witnessed.

MEDIATOR RENEWS EFFORTS

CHICAGO, Sept. 29 (U. P.).—Dr. William Leiserson, Federal mediator, returned to Chicago today to renew his efforts to avert a nationwide railway strike threatened by 300,000 operating employees who want a 20 per cent wage increase.

INDIANA LAW SCHOOL

(Of indianapolis Established 1894

DAY wb EVENING DIVISIONS ite or call Regist! 303-324 Rate Life Bldg. is ra TR1-2800 Complying with rules of the Supreme Court and the American Bar Assn.

$2 a Week Pays

LOANS

Large or Small :

$1,000 Loan!

Just realize how little it takes to have a home of your own! A moderate down payment apd monthly payments, often less than the rent you are now paying, obtains for you a home of your own,

Yes! We can arrange that your monthly payment take care of those taxes and insurance, too!

Stop in and talk it over— obligation. $ Oyar-no

Available on Marion Count, Real Estate Only! y

—Q— -| Quaker St Oil.. 15'2

High Low No Auer. enn 314 20% No Am Avn 8Ys 8 No Pacific —.-. 19% 187% ele Ohio Oil 14% 143% Oliver Farm Eq 45 45 Omnib 12% 12% Otis Steel 13 12; owens Th Glass 86 86 —p Pac Am Pish .. 13% Va

Packard Paramt Pict ...

Utah Parke Davis .

34 Parker Rust Prf 23% Patino Mines .. 13% Ys

e Femnaisand. cts 181% Penn +139

Plvwouth oil . Postal Tel pf . Press Stl Car oo g Re

Purity Bak .... 10

15% 9 66% 6 Re! iable-Stores. Rem-Rand . Reo Mot x pepublic Stl ..

Revere Cop.. Reyn Met ...... 1

St Jos Lead.... 45% Schenley Dist. . 30% Seob’d Air L.. Ya Seab'd Oil ...

2 % Sears Roebuck. 7415 1 207

Simmons Smith-Cor-T cte 20% Socony-Vacuum 183% Sue. . 3%

1Ys South Pac .... 30 South Ry . 18% South Ry pf.... 28% Spear & Co .... 13% Sperry-Corp .. 14! Spiegel Inc .... 16% Square D B.... 27 Std Rr Std C Tob . Std G & Std G & Std G Std G Std

Sunshine Min. . Superhtr Superior Oil .. Swift Co Syming-Gould. . Syming-Gld xw 85

— Tenn Corp ....-9% Texas Corp 9 Texas Gut Prod 47 & PC &O.. 10%

munnnnnninnnia

electric equipment continue in good Thome,

Transamerica .. 13%, Trs 5 3 t Air 91; Traux 82 20th bo 2Fox. . 29%

—l . go 5% . 15%

‘rier Un Pacific Un Aircraft op on Un Air Lines .. 11% United Cp pf .. 337 United Drug ... 8% Un El Coal .... 6% . 113s . 6% . 10% . 80%

Und Ell Fah

nnn nnn n ud 352 2 = °

Fg pf ... 124 n Stores A ..

uU U u u U U U U u U

Vanadium

Wabash pf A .. Walgreen ...... Walworth Warner Bros .. Waukesha Mot.

West Air Bke 3 Westing El or White Mot 16 White Sew M pf 20% Woolworth 52% —Y— . 15% 59 Ya — Zeinth Rad .... 34 34

Yellow Tr ... Young Sheet ..

Net Last Change 3 —1

Ya eens 19% — % 1434 45 12%

7s - 15 57%

NEW BOND ISSUES

(By W. L. Lyons & Co.)

Attis- Cltalmers 48 53 Jivisiin. 64

Atl City Sls & O

B 45 Beth Steel 53; B F Avery Sons 5s Calif Oro Pwr 4s 66 ... Cent Maine Pwr 4s 60 ... Cent Maine Pwr 315s 66 CMO 23s 42 .

66 Houston Lt & Pwr 3's 66 ...

Indpls Water 3's 66 Los Angels Rev 3%; 28

Pub Service 4s 62 .. Pao Lighting 4'5s 45 .... Scott Paper Co 3Vas 53 .., Union Elec 3s 42 2

Seer ssnsen.

G & E 3's 66 . Wisc Pub Svc 4s 61

cssebs aa

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= we

GIORNO WD

ON | SRE RR SRI en = baba © 09 63

FOREIGN EXCHANGE

NEW YORK, Sept. 29 (U. P.).—Foreign

exchange opened irregular

Rat England (pound) . 4.94% England (60-day bi 1 rate) 4.93%

Co (dollar) ....1.00 France (franc) ..... .03427 Italy (lire) cess 05262 Belgium (belga) .... +1674%; Germany (Mark Switzerland (franc) . 12296, Holland {guilder) .. 5524 Spain (peseta) . -sULuoled Sweden (krona) .... .25502 Norway (krone) ... Denmark (krone) Japan (yen)

Net Change 004

-—

—.00%

PORKER PRICES STEADY AS TOP REMAINS $12.25

Vealers Advance $1 as

Spring Lambs Decline 50 Cents.

Sharply curtailed arrivals of hogs gave a steadying influence to the local trade today, according to the Bureau of Agricultural Economics. Some of the other leading points reported further losses and the fresh pork trade generally continued downward, but supplies here were absorbed readily on an unchanged basis. This kept the top at $12.25 on choice 210 to 225-pound weights. Common and medium lightweight steers and yearlings continued to move sluggishly and further declines of as much as 25 cents were uncovered. This put prices in extremes 50 cents beiow the close of last week. Strictly good and choice and prime kinds, however, were fully steady. Choice to prime around 1050-pound long yearlings cashed at $18 and there were ther steers of the same weight at $16.75.. Most of the crop turned at $10 to $14.50, with the usual quota of common kinds downward to $6.50. Despite further losses in dressed values, the vealer market took a turn-about-face today and shot upward $1, recovering Tuesday's downturn. Shipper competition was largely responsible. .- Good to choice vealers moved at $11.50 to $12, with most mediums $9.50 to $10.50 and lower grades downward to $6.50. Another substantial reduction in eastern dressed lamb values took additional toll of live prices, spring lambs declining fully 50 cents. Some unfinished offerings sold at more loss. Good to choice ewe and wether springers bulked at $9.50 to $10, with medium fleshed lambs from $7.50 to $8.50 and thin lightweights as low as $4.50. Slaughter ewes held unchanged to $2 to $3.50.

Sept. Receipts 21. 8500

Bulk [email protected]

Liens Jiichss (140-160) Good and

Lightweights (160-180) Good 2nd

choice. [email protected] . [email protected]

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

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

[email protected] 11. 15@12. 05

[email protected] [email protected] [email protected]

[email protected] [email protected]

e Medium Weights (200-220) Good (220-250) Good Heavyweights— (250-290) Good (200- 350) Good Packing Sow (275-350) ood (350- 425) Good (275-550) Medium: Slaughter Pi (100-140) Good and choice. .

and

choice. . choice. .

CATTLE Receipts, 6000— (550-900) Good

C (900-1100) C

Cor 11100-1300) B;

M (1300-1500) C

Good Gnd choice.

(750-800) Common, medium.

d Common, medium . Low cuter and cutter ...

Good (beef) Cutter. common and medium..

Vealers —Receipts, T110— Good and choice 3 Mediu Cull po” medium

Cal (250-500) Sood and .choice.. [email protected] ommon, medium. 5.50@ 8.50 Ferns and oS totker Cattle

Good and choice Common and medium Cows=

[email protected] [email protected] 6.50@ 9.50

Good oe Common and Hedin

SHEEP AND LAMBS —Receipts, 1600— S

ww [POD oouo S053

ssssssssssssssssene

Shorn (50-115) "Good and choice. . ommon. medium. .

SAFE DEPOSIT BOXES

/ * Reasonable Rental

Security Trust Co. 130 E. Washington

‘Member Federal! Deposit : Insurance Corp.

99 OAD

ow loo

GROW AT

% Compound :

Dividend Rates!

$100 t.

INSURED SAFETY

for SAVINGS of $1.00 to $5,000.00

CHART SHOWS HOW SAVINGS

Certificates earning same dividends are issu 0 $5,000 fo those desiring. to invest

Funds Invested by 10th of Any Month Earn Dividends from 1st of that Month

Write for folder explaining INSURED Accounts

SAVINGS ¢ LOAN ASSOCIATION. ‘OF INDIANAPOLIS

All Accounts INSURED up to $5,000.00

in units from urplus funds.

23 W. OHIO ST.

Wheat Eases

Fractions as Corn Declines

CHICAGO, Sept. 29 (U. P.).—All grains were lower today on the Chicago Board of Trade under

leadership of wheat.

At the start wheat was 1% to % cent lower, corn was 4 to 12 cent lower and oats were unchanged to 1; cent lower. Liverpool was higher at the start but the strength of the English market was without early influence here. - Winnipeg turned easier and the selling in the Canadian market brought out further selling in Chicago. There was little news of interest to grain traders and most operators were content to stand on the sidelines and wait for further developments. Corn was a half cent lower on brisk selling early. Commission houses led the bearish activities.

WAGON ;ON WHEAT

City grain elevators are naying for No. 2 red, $1.01; other grades on ‘their merits. Cash corn, new No. 2 yellow, 8lc. Oats, 27c.

ARGENTINE GRAIN BUENOS AIRES, Sept. 29 (U. P.).— Grain futures opened firm. Wheat—November, $1.257%, up Ysc; February, $1.02% up 3c. Corn—October, 57%c, unchanged: November, 57%e¢, unchanged. Oats—Spot, 29%¢c, unchanged. ax — November, $1.35%, unchanged; February, $1.28, unchanged.

FINAL DIVIDENDS SEEN UNDER "36

Business Letdown Expected To Keep Payments Below Year Ago.

NEW YORK, Sept. 29.—Year-end dividends, despite the excess profits tax, probably will not flow this season in the spectacuiar volume they did last. year, many in Wall Street estimated. The slow-down on general business, it is being assumed, headed off possibilities in that line. Instead of paying out hard cash, many companies, it is said, will clear off their surplus profits accounts by issuing to stockholders either preferred stock or debentures. Still others, it is believed, will elect to pay® the high tax and keep all of their surplus that they can. Furthermore, nearly all companies have been running higher on their interim dividends this year. In 1936, dividends were held back in a persistent hope that the excess profits tax law would be amended in the last month of the year. United Business Service, of Boston, commenting on this situation, held that while nothing like last year’s flood of extra dividends will be in evidence this year, the total amount to be paid to stockholders in the final quarter -will still be “a very substantial amount.”

FOOD PRICES

CHICAGO, Sept. 29 (U. P.).—Apples— Michigan McIntosh, 50c@$l. Sweet Potatoes—Tennessee, bushel hampers 90@ 90c. Carrots—Illinois, bushel, [email protected]. Spinach—Michigan, bushel, 65c@$l. Tomatoes—Michigan, 12-qt. baskets, 25@65¢. Cauliflower—Colorado, crates, $1. [email protected]. Peas — California, hampers, $2. [email protected]. Celery—Michigan, flat crates, 40@60c. Onions (50- 1b. sacks)—Minnesota Yellows, 75@82%c; Iowa Yellows, T7%c; Idaho Whites, “G5. «

WORKERS FEEL EFFECT OF LESS

Operating Rate This Week Is 2 Points Under Previous Period.

NEW YORK, Sept. 29 (U. P.).— Some steel workers have been laid off as the steel operating rate dropped to 74 per cent of capacity, the magazine Iron Age said today pointing out that labor is beginning to feel effects of the reduced output.

two points under the previous week and companies are still adjusting schedules to the reduced volume of new business. “Steel mill labor is beginning to feel the effects of reduced operating schedules,” the Magazine said. “The first adjustment was the elimination of overtime, but in some departments hours have gone below the standard of 40 a week. Most of the large producers are ate tempting to stagger work, as they did during the years of low operations, while in some smaller plants men have been laid off on a seniority basis. Car builders have laid off men in an effort to spread out their remaining work over as long a period as possible. “The steel trade is virtually a unit in the belief that the extreme

customers is being overdone; they attribute the lack of confidence largely to the recent stock market slump, together with the uncertainties as to administration acts and policies and to labor agitation. For example, the slowness of some of the principal units of the automobile industry to buy steel in conformity with their prospective fall manufacturing : programs is attributed in part to fresh labor disturbances in the Detroit are and the failure of General Motors and the United Automobile Workers Union to reach a final agreement.”

INVESTING CO.S

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LONG ROOTS or sturdy growth

The company that is doing a national

business —or hopes to—needs a banking

connection with national outlook and

contacts, in addition to a thorough

understanding of Indiana.

In practically every American city of

any size the American National Bank

has friends well established in the busi-

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respond promptly to any reasonable

request for cooperation or information,

on behalf of the bank or its customers.

AMERICAN NATIONAL BANK

at Indianapolis

Pennsylvania and Market Streets

pero College Avenue at Forty-Secorid Street

STEEL OUTPUT

The operating rate this week is

caution now prevailing among their

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