Indianapolis Times, Indianapolis, Marion County, 5 October 1937 — Page 15

IARKET DECLINE IN

IGHT M

- Domestic Bonds Dip In Fairly Active Trade.

BULLETIN United States Steel Corp. common stock dropped a a new low for the year at 743%, aff 314 points from the previous close. The high was 12614, recorded on March 11. NEW YORK, Oct. 5 (U. P.). —Steel shares led another stock market decline today but trading continued light on the movement. Domestic corporation bonds de-

clined fractions to more than a So

point in fairly active trading today. U. S. Government loans were mixed. U. 8. Steel was the leader, reaching 753% for 27% decline. Youngstown Sheet & Tube made a new

low for the year at 542 and Bethlehem was 17% lower at 653. _ Metal shares joined in the movement as U, S. Smelting went to 75 for 23; loss, International Nickel to 493% for 13% loss while Anaconda also was weak. J. I. Case lost 2 points to 127 and International Harvester dipped 2% to 90%. - Westinghouse broke 3 points to 111 and General Electric was almost 2 points lower. DuPont lost 3% to 139. Southern Pacific and Chesapeake .& Ohio each lost more than a point to feature rails. Chrysler was a point lower at 88 and Standard Oil of New Jersey lost more than a point to lead the petroleum

issues. 2

Today's Business

E »

N. Y. Bonds

By United Press

BOND PRICE INDEXES .

20 20 20 Inds. Rails Utils. Yesterday ..... 88.2 84.2 97.5 Week ago ..... 88.2 82.4 96.6 Month ago .... 91.5 890.0 100.2 Year ago 100.1 - 105.9 Two years ago 89.7 “8.4 1004 1987 high ..... 95.0 101.2 106.0 1937 low ...... 87.9 82.0 96.3 1936 high ..... 94.8 1004 106.2 1936 low ...... 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, 1937, Standard Statistics Co.)

89.9 89.1 93.6

89.5 100.% 88.8

93.3

NEW YORK, Oct. 5.—Bonds Opencd irregular. . Change. Can Pac 4s +% Ch t ESF 5s am. Lg. cesssnes 21% cessneee 20% 62

Zig +i

Port Gen El Seaboard 6s Pac 4Y%s

Curb Stocks

NEW YORK, Oct. 5.—Curb

opened easier, Open Change Am Cyan P .csvesesnsencse. 38 “eee Bunker H & S ..ccovsessnnes, 21 sian Cities Service . , ee Eagle Pit Lead . ey eens B&S —a 5 Land & Exp " / —Ya Pantepec Oil .. —Ya Technicolor Un Lt P A

stocks

—% cess

CHASE NATIONAL ASSETS DECLINE:

Largest Bank in U. S. Deposits Drop in Third Quarter of Year.

NEW YORK, Oct. 5 (U. P)—

100.2.

At a Glance

GENERAL BUSINESS

American Bureau of Metal Statistics reports August receipts of lead in ore and scrap by United States smelters 45,315 short tons vs. 45,748 in July and 36,708 year ago; U. S. imports of zinc, 3941 short tons vs. 2606 in July and 653 in June; U. S. exports of refined ingots, bars, etc., of copper first eight months 191,568 short tons vs.

138,616 year-ago.

American Bureau of Metal Statistics reports August world gold production, including Russia, 3,242,000 fine ounces vs. 3,157,000 in July

and 2,403,000,

excluding Russia,

year ago; eight months, excluding

Russia, 18,209,000 year ago.

19,628,000 fine ounces Vs.

Oil & Gas Journal estimates week . ended Oct. 2 crude oil output averaged 3,645,476 barrels daily, off

21,625 from previous week.

CORPORATION NEWS

Solar Manufacturing Corp. Sept. sales $220,975, vs. $200,613 year ago,

up 10.1 per cent,

Central Patricia Gold Mines Ltd. _ first eight months net income $333,398 equal to 12 cents a share vs. $300,485 or 12 cents year ago.

Detroit Harvester Co,

1936 net

income $289,659 equal to $1.99 a are vs. $298,215 or $2.05 in 1935.

astern Steamship Lines,

Inc,

st eight months profit before Federal income taxes, capital stock tax, capital gains or losses and other nohoperating adjustments, $103,763 vs.|$806,610 year ago; August profit $360,131 vs. $604,000 year ago.

Esyuire-Coronet, Inc.

and sub-

come $58,305 equa to 8. cents a

common share vs. cents year ago.

72,883 or 14

RAILROAD REPORTS

Atchison, Topeka & Santa Fe Ry. Co. week ended Oct. 2 carloadings 26,366, vs. 26,429 previous week and

21,470 year ago.

Baltimore & Ohio R. R. Co. week ended Oct. 2 carloadings 36,709, vs. 36,305 previous week and 34,431 year

— ago. DIVIDENDS

Amerada Corp. regular quarterly 50 cents, payable Oct. 30, record

Oct. 15.

J. I. Case Co., year-end of $6 on

common,

‘payable Oct. 23,

record

Oct. 13. On Dec. 24, 1936, company resumed common payments with $4

disbursement.

Melville Shoe Corp., regular quarterly $125 on SOON, payable

Nov. 1, record Oct.

New York Sie Co., extra

10 cents and regular quarterly 20 cents on common, payable Nov. 1, record Oct. 20, vs. like extra Aug. 2. Niles-Bement-Pond Co. stock divjdend of 1 share of Shepard-Niles Crane & Hoist Corp. stock for each share of Niles-Bement-Pond Co. stock held payable Nov. 8 record Oct. 11. Quarterly Income Shares, Inc. extra $1 payable in five-year 5 per cent debentures on Oct. 15 record Oct. 1 and regular quarterly 30 cents payable Nov. 1 record Oct. 15. Extra 30 cents was paid Feb. 1. Sears, Roebuck & Co. regular quarterly 75 cents payable Dec. 15 record Nov. 15. - (Copyright, 1937,-by United Press)

- PRICE INDEX AND COMMODITY QUOTATIONS

DAILY "PRICE INDEX NEW YORK, Oct. 5 (U.P.).—Dun & Bradstreet’s daily weighted price index of 30 basic commodities, compiled for the United Press (1930-1932 av-

- erage 100): Yesterday ..........133.08/ Year ago Week 2g0 .........136.98/1937 high

Month. ago .........138.53/1937 low (Oct. 4) ...133.08

Following are the commodity Urices used in compiling the

daily price index.

Today $ 1L11% 88% 80% 32% 6.875 A125 09 0320 35% © J113e

Commodity— Wheat, No. 3 red (bu.). Corn, No. 8 vellow (bw.)........ Rye, No. 2 (bu.)......... sesases Oats, No. 2 white (bu.)....... . Flour, spg. Pat. (196-1b. sack).. Lard, prime steam spt. (Ib.).... Coffee, Rio is spt. (Ib). Sugar, raw 96 test (b.). ‘Butter, 92 score (b.)....... sy 3 220-350 No. good-ch. (Ib.)

etseces

Deposits, total assets and U. S. Government security holdings of the Chase National Bank—Ilargest banking institution in the United States —declined in the third quarter this year, the condition statement as of Sept. 30 showed today.

Cash and loans and discounts, however, increased and undivided profits, while smaller than for the second quarter, were above the corresponding 1936 period. The trend in the various items was representative of condition statements of most other local banks and trust companies. The Chase National Bank statement showed deposits as of Sept. 30 of $2,128,875,000, against $2,136,387,000 on June 30, and $2,290,889,000 on Sept. 30. Total assets were $2,422,152,000, against $2,426,554,000 and $2,568,430,000, respectively; cash on hand and in other banks $708,884,000, against $685,720,000 and $761,827,000, and U. S. Government securities $575,011,000, against $618,840,000 at end of June and $765,601,000 at the end of September last year. Loans and discounts were $817,313,000, an increase of $7,335,000 since the end of June and of $155,000,000 for the 12 months. Undivided profits were $25,880,000 against $27,950,000 on June 30 and $20,963,000 on Sept. 30, 1936.

BROKERS’ OPINION

NEW YORK, Oct. Drokerags opinion today. E. A. PIERCE & CO.—The market is currently undergoing a test. A better tone should appear soon if the current decline is not to be more than a so-called secondary reaction. REDMOND & CO.—Unless there is some adverse turn in the news we would expect the stock averages

.ito hold around current levels and

then move irregularly higher in an

begun early last week. HORNBLOWER & WEEKS—Decisive indications are still lacking as to the extent of which the current readjustment period has been completed. Meanwhile, we would use the low levels of last Wednesday, namely 150.09, as convenient marker for the likely limits of a normal retracement of the ground mained from the low on Sept. 24, namely 147.38. LAMBORN, HUTCHINGS & CO. —We can only continue our former advices to investors to await more convincing market action before reinstating commitments, and for traders to await one of those oversold periods from which the rebounds are usually sharp enough to warrant the quick risk involved.

FARM PRICE INDEX DECLINES SLIGHTLY

In the slightly darkening business picture one of the brightest spots has been agriculture. The prospect of a $9,000,000,000 farm income this year has heartened many an economist and New Deal administrator. But now the farm price index is dropping a little. The Bureau of Agriculture economics has just reported that recent declines in local market prices of farm commodities have carried the mid-September farm price index to the lowest figure in 14 months. Its figures put the Sept. 15 index at 118, compared with 123 on Aug. 15 and 124 on Sept. 15, 1936.

Commodity— Lambs, good (lb.)..

(April 5) .158.26

Week Ago $ 1.12% 110 83% 34Y 6.815 1100 09 0320 3353

nll

Year Ago $ 1.17% 1.07% 1% 433% 43 A157

las Cor Aviation

High Abbott Lab .... Adams Exp Adams-Mil .... Air-Way El

OVEMENT| ==

Bonds | Am

99.5 A

1 orp. .

veo 13%a 22 1%

NEW YORK STOCKS

Low 43% 12% 22

Bald Loco ct wi 11% & Ohio. 1

Joeing Air

BN ue 3ush Term ....

Butler Bros pf. Butte

Cop

4 (U. P)—|G0

G mbel Bros ...

East Roda oe Eaton no Elec Auto-L . Bo.

Byers AM ..... Cal Packing ... Campbell Wy ..

Can Pacific a Case, J I ......12

Celanese ..... .

Cent Found Cent RR N . Cerre de Pasco. He Eh dee

g Cons Aircraft . Cons Edison ... Cons Edison pf. 9 Cons Laundries. Cons Oil Consumrs Pw pf Container 2

or he G Crane Go cv of nt Crown Cork Crown Zeller .. Crown Zeller pf 85% Crucible St .... 45 Cub Am Sug . Curtiss Wr .... Curtiss-Wr A ..

Davega Strs ... WG...

3 Stores.... jond 22

ol & Aik 36 Col Broadost a Colum Gas .... 9 Com Meredit “as Com Inv Tr ... Com Solvents ..

. 473% 15%

6% 4Y, 13%

Va 140%:

Fair Morse ... "ajardo Sug ... 3 Firestone T .... 2 Flintkote .... Francisco Sug .

Gair Robt .... Gen Am Tr .... 5 Gen Cable Gen Electric ... Gen G&E A ... Gen Motors .... Gen Pr Ink . Gen Rty & u. Gen Refract ... 35% Gen Fhcatre | Eq 3 Ji

es 12%

Tette SR.

it ® North pf ...

Gt Sor ore ....

extension of the recovery movement | H

Hall Print ..... Hecker Prod ...

Inland Stl ; ngpiratn Cop . . 15

Johns-Man

Kaufm Kelsey-Hayes Kelsey-Hayes B. Kennecott

Lori

n HL Greyhound Cp .

Sere Por rts oo

11 Central

n nter Ir

A714 26} fe

171% V2

1373 EL

3 3 A

153% 87Y

14% nt Business M 146%

nt Harvester . [nt 1

t DS td Cr Coal.

an D S . A

lard

seca

pf Monsanto

seevaee

Hides, native hvy. steers ab.).. . Wool, fine unwashed comb. (Ib.) Cotton, mid-upland (Ib.)....... Silk, 13-15 deniers Jap (Ib.). Rubber spt. smk rib (1b.) ...... Copper, electrolytic (1b.)....... Lead, spot ah.)..... ascsas See Zine, spot (1b.)...... Tin, straits spot (Ib.)........... Silver, comm’l bars (oz.)..... Steel scrap, Chicago (ton) Pig Iron, Iron Age Comp. (ton). Coke, Connelsville (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)

(Source of Quotes—Chicago:

. scrap and hides. Boston: Wool. E. St. Louis: Zine. Connelsville: Coke. Tulsa: Crude oil. New Yopk: All others).

setentgante

Today 09875 J8%% 5 A0%a 0848

1.74

15.93 28.25 4.25 2.25 60.00 52.50

1.2%

1768 JA23% 060214 0650 S51% 4434

Grains. livestock,

4Yy — 93

Week Ago 0970 JA8% 40% 0866 1.83% 18.03 13 060215 0687% S1% 443% 16.75 23.2% 4.25 2.25 60.00 52.50 095 1.2%

Net Pas Change

lard, steel

By United Press

Yesterday

x on Year ago

Yetserday Week ago .. Month ago .. Year ago ..c......

cescessnen

Yesterday

Year ago

Yesterday

Week REO «ccecoccavsasancnses Month AR0 ccccescsccscccess 164.39. sanssnvsesses 11443

High, 1937, 194.40; low, 147.38. High, 1936, 184.90; low. 143.11.

20 RAILROADS

sssess

DOW-JONES STOCK AVERAGES 30 INDUSTRIALS

-—1.89 +113 —8.16 +1.61

152.19 153.16

wesrerssaennaas 40.83

«oe 44.37 . 58.54

High, 1937, 64.16; low, 38. 93. High, 1936, 59.89; low, 40.66. 20 UTILITIES sesxssssntasasecerss 33.83 Week BF0 ..ccessssssscsccces 24.08 Month BEO0 cs.ccesstanieniaes 25.37

High, 1937, 37. 54; Tow, 22.9%. High, 1936, 36.08; low, 28.63. 70 STOCKS

«eo 51.19

“2] Week AZO ..ecesecacsssaneses 51.58

Mont Ward ...

Mueller Br .... Murray

Nash-Kelv Nat Acme

deen

N P Nat Distillers . Nat Gypsum .. a

Nat Lead NotMatest Cs. Nat Pwr Lt Nat Steel Nat Supply ...

REE Ee

ICS

9 Vs

Am Ed ££ No p 19%

No Pacific ....

14% 43% . 29

3 Ya Otis Steel ..... 12%

Pac G & El ... 27% Pacific Ltg .... Pacific Mills ..

Pac West Oil ..

Park Utah Parker Rust Prt 23 Pathe Film ... 7% Patino Mines . Penn D C pf A pennGiSand cts Penn RR 2 Pere. Marquette Phelps g ..3 Phil Morris -«.. Phillips Pet ... Pierce O pf ... plymouth oil .. Press Stl Car . press Stl 2 pf. hrocin G .. 5 ublic Serv ... h Ser 5 ot..10

Pure Oil Purity Bak .

Hin:

Radio. . Rad Radio K-Or Reli

LLLEITIT

Faun

wee 13 35% . 39% .. 56% « 14% 9a

«15 . 32% Va

Month AZO .c.cccecicesoncans Year ago ...... was sas . High, 193%, 69.67: low, 19.41, High, 1936, 66.38: low, 51.20.

55.39 . 64.19

Net Last Cnange 46% — A Ya

242 17% 25

Low 46%

scene

14% 31

29% 12%

22% 19 18% 49% 227%

43%

. . . ; .

. .

11:

[+11+111:

29 36%

DLE

Atl Oy, 3! Vas B & 412s s 39

bt pt

» ACN) ah a, FR FRR EEE

bbs pub

| | i: .

yest Ches' ny 3las 67

BE Wisc Pub Sve Sve 4s 61

The joliowing sent actual bids

recent transactions.

Citz Se Tel (TH) 14s & Tel Ft W 5

[Interstate

H Trac & L

Trac Term C

Belt RR St Yds ofd Cent Ind Power Home T&T Ft Ho [nd 2 | Ind [nd ndpls Gas Co s Pwr & Lt p Pwr & Lt Water Co Nai Life [allory c nd Pub

ndp Ln ws

inca

Year Age 0838 JA3% 3512 1237 1.74

XEx-Div

indicate the approximate based on buying and se

Serv Co Hydro ng com Ts pfd.. com

NEW BOND ISSUES (By W. L. Lyons & Co. oo 64 cilecrencennn

8158 66 ouinesee 101% is 104

LOCAL ISSUES

(By Indianapolis Bond & Share Corp.) quotations do not repreor offerings but merely

market level lling inquiries or

BONDS

61 . s 35..

Indpls Water Co 3'2s 66 Kokomo Water Works 5s 58..103%

5s T H Water Hoke Ss 49 .

Belt RR St Yds com .. Ya Liassnsnce 568V2

21% 50%

-107 se 2.102%

om Serv Co Fe 5%s.. 64

p Milk Co nfd ...... RH Van Camp Milk Co com .. 1

(By M. P, Crist & Co.) xMarket > ey estiog Corp ... 27.58

“ene

14 8.

ILES

‘Supplies,

Piling Guides and ers

and Assaciates

R1-9727

gsdgdg dds dd < —

- JAPAN'S TRADE

; ‘that the exports to Japan alone

| Customs ".. "119,031,334. ss

@ .. | 2.15. 45c.

Net Last Change 6 Ys

High Low eh Range 11% — Ya

2 6% 1% 1%

al Union B&P .... 14% Bion Cath een 87 21% Un Aircraft Cp: 21 3 Un Air Lines .. 11 Carbo! «73 a? 334 3. Poe 15s ie sea oe. 10% . 16 vee 251 A... 11% veo 13s «37% 0

Twin CR T ... Twin Coach ...

14% 14% 861 21

76% 3% 1% Vo .22 5% —_—W— 5% 9% 10% 0 21%; 38

Vanadium ..... Va-Caro Ch

Vabash pf A .. /alworth

Jarner Bros . : jarren F&P . 7aukesha Mot .

AdAdAAAA

as Lun est Air Ske 2m re

i Theel Po 14

heel SH r f. 3 ite P pi

15%; hite Se Sear M. 3 * /ilco.

xX O&G . rillys. Overland pra 7illys Overld ot 10% Ison & Co Woolworth cases 42% Ya Yellow Tr «¢ceee 15 14%

32%,

14%

Zenith Rad .... 3272 32%

WITH U.S. BiG

Embargo Would Affect|® Every Segment of Business, Claim.

By Marshall McNeil Times Special Writer

WASHINGTON, Oct. 5.— More than 10.5 per cent of United States’ export trade and 6.5 per cent of

our import trade would be involved if this Government were to act on the request made by the National Council of Labor in Great Britain for an embargo on Japanese goods. Our trade with the Orient’s warring nations has assumed large proportions, and anything affecting it will affect every segment of American busines. As regards exports especially, the cotton and oil regions would be greatly damaged. Latest figures compiled by the Commerce Department show that in the first seven months of this year our export trade with Japan and China accounted for 12.6 per cent of our total export trade, and

were 10.6 per cent of the total. Our imports from China and Japan were 10.2 per cent .cf our total imports, the imports from Japan alone amounting to 6.5 per cent of the whole. Our exports to Japan were $87,013,000 greater in the first seven months of this year than in the same period last year. In 1936 they constituted 7.8 per cent of total U. S. exports. Likewise our imports from Japan increased in the first seven months of 1937 as compared with 1936. This year they were valued at $127,511,000; last year, at $91,063,000

Silk Largest Import

Although the consumers’ realization of the extent of our trade with Japan probably can be credited chiefly to “Made in Japan” marks on light bulbs, toys, trinkets, etc., actually Japan's biggest export to America is silk. In the first 7 months of this year 26,429,773 pounds of raw silk, valued at $59,419,000, were brought into this country from Japan. In terms of doHars, the second biggest item of our imports from Japan was bleached cotton cloth. In the January-July period this year the following were major imports from Japan: Canned tuna fish, ~ crabmeat, coney, rabbit and mink furs, bristles, dried beans, tea, crude and refined camphor, cotton cloths and rags, raw silk, straw hats, tissue and similar paper, earthen and stone ware, electric lamps, dolls and parts and other toys and trinkets, pencils and rubber-soled footwear.

Our principal export to Japan is| $1

cotton, and in the first seven months of this year our exports totaled 759,754 bales, with a value of $54,826,000. The second most important export was scrap ron and steel and tin scrap, valued at $31,557,000. Crude oil valued at $10,980,000 was exported to Japan in those seven months. ; Since July, our cotton exports to| 8 Japan have fallen off.

c Other major American exports to| Se

Japan are gasoline, kerosene, fuel and lubricating oil, lumber, rods and tin plate, copper, lead, automobiles, coal tar dyes, tobacco leaf and condensed, evaporated and dried milk.

U. S. STATEMENT

WASHINGTON, Oct. 5 (U.”P.) —Government expenses and receipts for the current fiscal year through Oct. 2, compared with a year ago:

s Y Last Yea 709, 230. is $ 1.7110, $82. 092. 26 ,978.93 1,171,332,951.19 ,241.20 539,328.070.07 1208.09 33,822.006,269.85 680.12 10, 332s 04s, 333: 3

days Piss Total - $119.7 he Sone)

FOOD PRICES

Reprinted From ‘Late Times Yesterday CHICAGO. Oct. 4 (U. P.).—Apples— Michigan McIntosh, 60c@$l. Sweet A tatoes—Tennessee, bushel hampers, $1. Carrots—Illinois, Bun ches, 1%@ Tomatoes—Michigan, "12-qt baskets, i 50¢c. Cauliflower Colorado, crates, $1.65 1.85. Peas—California, - bg eso 2@ Celery—Michigan, flat a. He

. 5,932, Gold res. 12,746,897,

Inact. gold .

wire | ¢

PORKER PRICES DROP 50 CENTS IN LOCAL YARDS

Heavy Receipts Locally and In Other Leading Centers Cause Decline.

Heavy receipts locally and in 11 leading markets caused hog prices to drop 50 cents in the Indianapolis Union Stockyards. The Kosher strike in the East also had its effect in the hog market. Seven thousand hogs appeared and 532 were held over. Top was $11.25 on choice 210 to 225-pound butchers. Cattle receipts numbered 1200, vealers 600 and sheep 2000.

Reprinted From Late Times Yesterday HOGS

Sept. Receipts 2 3 29. 30. Oct.

3000 3000 4000 2500 5020 11.55 11.30 choice.. 11. allan [email protected] sl. % 11.70 [email protected]

[email protected] [email protected]

10 33@14. 5 10.00@

9. 79610.00 9.25@10. i

[email protected] [email protected]

12. 10@12. 25 1. za 18. 25 3 2.00 i: 8 11 5 Lignt Lights— (140-160) Good and Medi um

Lightweight (160-180) Good and

choice. $10. :

Medium Wei mn (200-220) Good and (220-250). Good and Heavyweights — (250-290). Good pet sein Good

choice. . choice...

choice... choice. .

—Receipts, 1000— Steers essessssese [email protected] [email protected] [email protected] $.00 8.50

(550-900) Choice Good

oO e (900-1100) [email protected] C . 15. Soir 5

oc (1100-1300) PH e

Mi (1300-1500) C

12. 50@16. 25 Heifers Choice

(550-1750) 3 San. 75

mon (750-800) Sood and choice. .

mmon, medium.

Gomnon, mediu Low cutter penis i tier cotausan

Good (beef) Cutter, common and medium..

Vealers

—Receipts, 600— Good and choice .......c.c0.0 [email protected] Medium 8.00@ 9.50 Cull ad medium ......c.0000- 5.00@ 8.00 Calves (250-500) Sood and choice.. 8.00@i34. mmon, medium. 5.00@ 3.00 Tor and Stocker Cattle Steers (500-800) Sood and choice. . mon, medium. (800-1050) Good and choice. . Common, medium.

ga um 250

33 by

wr dbo bo — Bo aba bo 3

tn 4 00% 0 ob 28 38% HHA

Heifers— Good and choice Common and medium ...... Cowes .

Common and medium SHEEP AND LAMBS —Receipts, 1000—

@ 59 91 O99

mbs— Choice areas nesatansse enn Medium secscsssansssisanens Common Shorn Ewes— (90-175) goog and choice..

mmon, medium X Effective Oct. 4, spring lambs ‘classi as lambs,

sesesssncsscstencne

By United Press CHICAGO, Oct. 4. including 4000 Siretts. cents lower;

= Rar iDl Lo Mark hy

top. bulk ghoice, 190-230 3s. 33 si T0@1 Ti.of°% 240-300 wa Sal + 150-180 lbs.. [email protected]; ood packing sows, [email protected]. A e—Receipts, , calves, Kosher butchers being still on strike, shipping demand for New York practically nil, and market at standstill; steer top. $19. 50: list 50 cents lower, with some bi s as much as $1 off; cows off most: bulls show similar downturn: weighty sausage bulls, -$6.75: vealers. 50 cents lower. down: not enough steers sold to make a market. Sheep—Recelpts es, 12,000; including 2500 directs; market, 25 cents off; natives. $10.25 down; best early hids, $10.50; sheep. steady; native ewes. [email protected].

$10 down. Cavern th

PT. W @30c lower; lbs, $11.45; lbs., $11.35; 250-275 1bs., 3 1bs., $11.10; 300-350 Ibs. lbs. $11; 140-150 lbs., $10. $10.50; 120-130 1lbs., $10 25; $10; roughs, $9.50; stags, $8.25. 1. Lambs—$9.75.

* 100-12 0 1b Calves—

INVESTING CO.’S

. Bid As Fd 14.57 15.50 AD fa 6.58 7.25 Am Hd 2° 2038 2.9 = 192 As st "oil 628 : Bas Ind 439 .. IK Bos

d 19.17 Bull Fd

k Bid Ask inst. oS urities Id. 1.40

lIkp 2.00 3.00 12.17 12.92 cfe th 26.26 29.31 cf 4] RB: 35 19.01 v of K1 19.29 21.05 cf ki 1% 15 15.49 cf 32 20.63 22.68 oo/Key cf S4 828 9.18 Maryld Pd 7.52 8.24 Mass Inv 23.13 24.54 2 ut Inv. 12.98 14.19 i Natnwd sec 3.98 4.08 = vig 1.58 1.73 **''Nat Inv 624 .... *** New Eng 13 19 16.33 ‘IN ¥ Bks 308 ai N.Y. x Bk

16.50 road St 23.20

Stoe Stk: “5 3 Yo.27 9.24 10.08 9.98 11.06

11.47

ese

ages

8S: | we’ Bs wi

i bid Bd ud; Sth PR bad: 332835hnea2 = 3h: : @ t%

REREIBBVRBILSE33 w oe era,

2 -> a “"

itd pares BD .

gasipiuizneug »

pi Seen Somat s L5. Ebner Rua cAR Bgonanonb F Sa giatsbaiaint J

Home Building

NEW PLANS FOR R NEW HOMES

Be Taq TE

See these new designs for homes in our Home Building Service Department.

Learn about Railroadmen’s new plan of homebuilding - that relieves you of details, gives your home more charm and aveshment value, a are, ranges ior ancing—at no more than usual cost.

Stop in today—No obligation incurred.

Available on Marion County Real Estate Only

000 | Wheat yield was 5,000,000

Wheat Futures Decline More Than 1 Cent

CHICAGO, Oct. 5 (U. P.).—Wheat rrices collapsed a cent and more a bushel today as traders liquidated in anticipation of the monthly private crop report, due today. At the start wheat on the Chicago Board of Trade was % to 11% cents lower, corn was unchanged to cent lower, and oats were unchanged to 1s cent lower.

The 1937 spring wheat yield today

was estimated by private forecasters|

at 193,000,000 bushels. The corn crop was placed at 2,594,000,000 bushels, more than 1,000,000,000 bushels greater than the 1936 yield. The spring wheat estimate was more than 93,000,000 bushels greater than the actual 1936 crop. Only four of the usual five experts issuéd crop reports for this month as R. O. Cromwell of Lamon Brothers is touring the Argene. Today’s estimate of the spring bushels les than the Sept. 1 Government

‘estimate ad a drop of 9,000,000

bushels under that of Aug. 1. The National Corn Crosp prospects improved in September, the forecasters pointed out and today’s corn crop estimate was 45,000,000 bushels greater than that of Sept. 1, although 65,000,000 less than the Aug. 1 estimate. August was a disastrous month for the corn crop, especially in Nebraska, Iowa and the Dakotas and the crop suffered greatly during that period. In September, by cono| trast, weather conditions were almost ideal for a revival of crop hopes and some of the corn though irretrievably lost has again shown promise of a crop.

ON WHEAT Y fan Ns are paying for No. 2 oy 1.01; other grades on their merits. gash corn, new No. 2 yellow, 76¢c. Oats,

ARGENTINE GRAIN OS AIRES, Oct 5 (U. P.).—Grain ened lower. Wheat—November, Jac; Renruary: $1.04%, off 3c. oher, 563%c, off Yac; November, 57c, off - Vac. Oats—Spot, 29%ac, off Yac. Flax—November, $1.35%, ‘unchanged; February, $1.28%, unchanged.

WINNIPEG WHEAT

BU: lures: o

OGLODEE scours snncrninn.. a December ssvvcarsecssrenes 1.36 May

FOREIGN UNREST - EASES METAL PRICES

NEW YORK, Oct. 5 (U. P.).—Renewed nervousness over the Mediterranean situation brought a weaker tone in base metal prices abroad today, but domestic quotations generally were firm under lead of copper. Domestic copper was quoted at

o|12% to 13 cents a pound, smelter

offerings at the 12%2-cent level having been exhausted. One prominent smelter continued to sell copper at 123% cents, but observers reported that supplies at that price were not plentiful. Producers quoted Bs cents. Demand -was reported alr, Copper quotations on the London metal exchange slumped one pound sterling ($5) per ton, the wire bar equivalent dipping to 1238 cents. However, early export sales were reported at 12.55 to 12.60 cents, compared with yesterday's Tange of 12.50 to 12.65 cents.

FOREIGN EXCHANGE

NEW YORK, Oct. 5 (U. P.).—~Foreign exchange opened Irregular Cable Net Ra Ares England (poun Bogland (60-d "bin rate) 4 2h Canada (dolla “1.00 France aouars 0330 aly (dire) .......... 526 Belgium (beiga) Germany (mark) Switzerland ant) Holland (guilder) Spain (peseta) Sweden (krona) .. Norway (krone) ....... Denmark (krone) ..... Japan (yen)

Glass Output

PRODUCTION OF PLATE GLASS’ {PLATE GLASS MFS. OF AM)

conan

SNNNNNIN ANNE

MILLION SQUARE FEET NN

AER NN

NNW

ANNIE NAN

ENON ANN

NNN |

i -

THE PARKER CORR INCORPORATED INVESTORS

BOSTON, Oct. 5.—A sea of 400 acres of plate glass is the amount of glass turned out by our mills in the month of August alone. Glass production in August increased more than the seasonal amount from July production but ‘was slightly under August of last year. In the first eight months of this year, however, 2 percent more plate glass was produced than in the corresponding 1936 months.

FLYNN ADVISES RESTRICTION OF TIME ACCOUNTS

Installment Buying Tends to Bunch Spending in Small Periods.

By JOHN T. FLYNN Times Special Writer

NEW YORK, Oct. 5.—There is a little pother going on among finan cial men about that old subject of installment sales. Back in the ‘twenties the installment idea was carried along to the point where you could buy anything from an engagement ring to a Mediterranean cruise on the installment plan. And a lot of pretty vigorous arguing was going on when the crash came and interrupted the deciding of the de-" bate. Now installment buying is getting up steam again. It is not Mr. Flynn nearly so robust an engine as it was in 1929, but it is growing. And some financiers have expressed the fear that it might be well to check it. As a matter of fact the economic significance of the dollar down, dollar a month business has not heen very fully explored. The true meaning of an installment purchase is found in the fact that it is a form of credit. And credit is a device by which a man is enabled to spend today the income of next month or next year or the next decade. When a man spends money he can do it in only one of three ways. He can spend money which he has saved out of past earnings. He can spend his present, current income. Or. he can spend the income he hopes to have in the future. Cred® is the mechanism by which he can perform this last type of spending. There is one thing about buying on credit which is very important. Once a man spends his income he can never spend it again. For instance, if he earns $100 a month and, in a single month, spends $200, half paid down and the other half to be paid next month, it is clear that next month he will have nothe ing to spend. He has spent it. If a man buys an article for $200, to be paid for at $20 a month for 10 months, it is clear that, in the coming 10, months, he will have $20 less to nd as the months you around. e has already spent Bunch Spending

There is no doubt, therefore, that installment buying tends to bunch a man’s spending into a small period and then cut it down for a short or a long period. But this will not hurt business as long as the installment business keeps up. Because first of all the heavy purchases thus made possible tend to stimulate production and, if the practice keeps up, each month there will be an entry of new installment buyers into the scene,‘ who will tend to offset the losses in purchasing power among preceding ine stallment buyers. The trouble comes when a depression sets in. When the hard times come, one of the early phenomenon is a sharp collapse of installment buying. When ‘that happens, it is easy to see what takes place. The installment buying itself is curtailed. But, even more serious, all other buying is curtailed, because while the old installment ace counts are being paid off, countless thousands of people have their pure: chasing power reduced to the exe tent that they are keeping up their installment payments. This is certainly an argument for keeping installment buying within pretty restricted limits—above all discouraging long installment ace counts. .

BANK STOCKS

of Manhattan Trus New OTE Trust . Tru

rving Ma I atlurers National Cit

New 3 ust .

Rush Jobs Make Us Smile Hendren Printing Company, Inc.

470 CENTURY BLDG. RI-8533

homson & 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 Board of Trade ; ‘Winnipeg Grain Exchange And Other Leading Exchanges

LI. 5501

Bonds of the United States Government, Its Territories and Insular Possessions

Federal and Joint Stock Land Bank Bonds Indiana Municipal and Corporate Securities ‘Real Estate Bonds and Preferred Stocks General Market Securities

129 EAST MARKET STREET