Indianapolis Times, Indianapolis, Marion County, 13 October 1937 — Page 15

PAGE 15

FLYNN CHARGES F. D. R. VIOLATE NEUTRAL POLIC

If Measures Continue Our

J THE INDIANAPOLIS TIMES PRICE INDEX AND COMMODITY QUOTATIONS

WED SDAY, OCT. 13, DAILY PRICE INDEX NEW YORK, Oct. 13 (U, P.).—Dun & Bradstreet’s | commotity=

| Week ago 130.38 | 193% high (April 5) 158.26 | Rubber, spt. mk. rib (Ah) .wuves

| Month ago 138.23 | 1937 low (Oct. 11) 127.69 | Copper, electrolytic (Ib)

Lead, spot (Ih) Following are the commodity prices used in compiling the Zine, spot (Ib)... daily price index.

Wheat Futures Gain 1 Cent as ¢ Resumes

PORKER PRICES DROP 25 CENTS © INLOCAL YARDS '™¢

CHICAGO, Oct. 13 (U, P) = Wheat prices climbed sharply higher on the resumption of trading to= day on the Chicago Board of Trade,

Week Age A005 BELLY A0 3s 1.69% 1700 a2 080214 0850 Say RELH

Year Ago $§ MIs A8% 351% A245 1.92% 1650 003g 0180 MRS RILH RIL

Today J0125 8 JRE an R33 1.72% 1663 a2 8021, 0825 Sy Ay

SRR R ee Pea

FERRARA

Weights Above 160 Pounds

Tin, straits, spot (Ib)

shh RR

(on).

IN ACTIVE MARKET

® Recent Depressed]

Issues Register |

Best Gains.

| Week Ago | Month

NEW YORK, Oct. 13 (U. P.) .—Wall Street's first reaction to President Roosevelt's call of a special Congress session Nov. 15 was one of relief that the “news was out.” Stocks improved at the opening. Bonds were steady. Cot- |

ton futures firmed. Initial prices on the stock market registered gains ranging to 2 points Trading was active with blocks | ranging to 10,000 shares in Com- | monwealth & Southern whic | opened at 1%, off Some recently made the best inghouse Electric to 109. Rails were strong with Southern Railway up 1% at 15%: Chrysler gained 1% to 827%. Douglas Aircraft gained 1 to 40%, and Boeing was up 1 at 27 Other to gain a point or | more included New York Central at 223, up 13%: Youngstown Sheet & | Tube 48, up 1; Union Pacific 98’ up 1'2; U. S. Steel, 3500 shares al 68%, up 23 Montgomery Ward 421%, up 1's; Anaconda 33':, up 2, and Bethlehem Steel 59, up 2%. * @w =»

Today's Business At a Glance

GENERAL BUSINESS American Petroleum Institute re= ports crude oil output last week averaged 3,579,050 barrels daily, ofl 68.400 from previous week. Newsprint Service Bureau reports September Canadian newsprint oulput 312,351 tons vs. 318,713 in August and 269,782 year ago; shipments 306.548 tons vs. 313.435 In August and 269,689 year ego, UJ, S September output 77,635 tons and New Foundland output 31,160, mak= | ing total North American produc= tion 421,146 tons; U, S. September shipments 73,838 tons; Canadian stocks end September 89,553 tons and 21473 at U mills, making | total 111,026, up 9000 over year ago. | Oil and Gas Joural estimates week | ended Oct. 9 crude oil output averaged 3,589,582 barrels daily, off 55,- | 894 from previous week.

CORPORATION NEWS

Bowman-Biltmore Hotels Corp, first nine months’ profit $124,764 before amortization and income taxes, | vs. $15,284 year ago September profit $27,471 vs. $22,910 year ago. Carrier & General Corp., Sept. 30 | net asset value equal to $8 a share | vs. $11.82 on Dec. 31 and $11.28 year ago. | Libbey-Owens-Ford Glass Co, | first nine months net profit $8,848, | 159, equal to $3.53 a share, vs. $7, = 560.960 year ago, September quarter indicated net $3,216.690 or $1.28 a | share, vs. $3,610,484 or $1.44 in preceding quarter and $2,266,988 or 90 cents year ago. New York Central R. R. Co, first eight months net income $7,011,298, equal to $1.09 a share, vs. $2,367.932, | or 47 cents year ago; August net $262,669 vs. $957.375 year ago. Parker Rust-Proof Co., September quarter net income $229,303, equal to | 53 cents a common share, vs, $342, | 503 or 80 cents preceding quarter and $204.282 or 47 cents year ago, nine months’ net profit $901,656 or | $209 a common share, vs. $738,487 or $1.72 year ago Pittsburgh & Lake Erie R. R. Co., | first eight months net income $3,195,416, equal to $3.70 a share, Vs. $2,838,292 or $3.28 year ago: August net $490.861 vs. $470,352 vear ago. Rustless Iron & Steel Corp, September quarter net profit $199 - 019. vs. $90.250 year ago; nine months net $574,841 vs. $228,273 year ago. Rutland R. R. Co,, $15,047 vs. net income $1,226 year | ago: eight months net loss $196,531, vs. net loss $201,001 year ago. Spencer Shoe Corp, September sales $664,630 vs. $861,957 year ago, off 229 per cent; nine months $7,- | 332,544 vs. $5,616,038 years ago, up 30.5 per cent. { Tri-Continental Corp. Sept. 30 | net assets equal to $7.54 a common | share, vs. $12.89 on Dec. 31 and $11.04 year ago. Union Premier Stores, four weeks ended Oct. 9 sales $1,172,337 vs. $741,308 year ago, up 58.1 per | cent: 40 weeks $10,006,399, vs. $6,319,143 year ago, up 58.4 per cent.

DIVIDENDS

Best & Co. 62': cents on com- | mon, payable No. 15, record Oct. 25, | s. like payment Aug. 16. Champion Paper & Fiber Co, regular quarterly 50 cents on com- | mon, payable Nov. 15, record Oct. 30. Nash-Kelvinator Corp. 25 cents | on common payable Nov. 20, record Oct. 30, vs. like payment Aug. 20. (Copyright, 1937, by United Pres s)

olL PRODUCTION DECLINES IN WEEK

TULSA, Oct. 13. (U. P.).—Daily | vil production in the United States during the week of Oct. 9 decreased | 55,804 barrels from the previous | week's averag nal said today. The Journal estimated daiy aver- | age production at 3,589,582 barrels. The figure was only 21,482 barrels | over the United States Bureau of Mines estimate of demand {for October.

5 5 Y U. S. STATEMENT WASHINGTON. Oct. 13 (U. P.).—Government expenses and receipts {or current fiscal vear through Oct. 11 pared with a year ago his Year $2,184 520,163 41 1.801.638.144 34 382.891.019.07 2.818.598 80 9 36 3 Work Bal 1,051.61 1.508 285.620 Fub. Debt 36.0 \ { 33.818,244.992 Gold Res, 12.7 71.33 10 985.083,72% Customs 114,849 071 3 Total Pur Gold $1.240.895 251.3

1 Se depressed comeback. jumped

stocks West=

2 points

1 |

Issues

Q J

August net loss |

Food Inc. |

Last Year £1.900 509.805 259,519,128 '640.990.6 2.063. 065.63

Expenses Receipts

391.7% 120 729 837 ¢ Today's Pur Inac. $2115. 483 HOUSE Re $3. 937,

INDIANAPOLIS CLEARING

Clearings Debits

000 |

EERE

{ progress of

| reorganiaztion plans.

[ing the worst

| a

[against

| tion of

| demands.

{of other { which [in many

| considers its service as a lender (an end. A harsh

| earlier faulted bonds.

| for

[holdings of [are reported in bond centers.

[trusts have been among

| observers as due to a cautious at.

| 3 gram adopted, it is pointed out, in-

| diate recovery

il & Gas Jour- | J 5, Wie ON ¥ Ons Jiately ahead.

| over,

7.558.000 | Michigan, flat crates

N. Y. Bonds

By United Press BOND PRICE INDEXES

20 Inds. . 86.4 87.6 90.1 03.4 90.0 95.0 w 36.4 . 948 .v 900 « 914 83.6 9.3 83.0 St andar a Statistics Co.)

20 20 60 Rails Utils, Bonds 0.9 96.0 87.4 | 3. 96.3 88.8 91.3 99.9 89.4 100.5 874 100.2 93.3

Monday

ARO Year Ago . Two Years Ago 1937 High 1937 Low .. 1936 High 1936 Low 1935 High 1935 Low Copyright, 1937, NEW YORK. Oct. 13 opened steady.

(U. P.).-<Bonds Open Change Australia 5s 103% .... BMT 415s Lautaro Nit Mo Pac Gen 4s

an 4! St Wn Bs ) Youngst 4s ..

Curb Stocks

Oct, firm,

13 (UU. PP) curb ot pen Change 10 ~~ 1

mm Co Am

93.1 |

| Allied

| Amerada 8

Today $100 684 Jee Stig 29 100% 09 031% EY A105 JAR00

Commodity Wheat, No. 2 red (bu). Corn, No. 2 vellow (bu)... Rye, No. 2 (bun.) Oats, No. 2 white (bu) .... Flour, spg. pat. (196.]1b, Lard, prime steam spt. Coffee, Rio 7s spt. Ib) Sugar, raw 96 test (Ib) ........0 Butter, 92 seore (Ib)........ ve Hogs, 200-350 Ibs, good-choice.. Steers, 1100-1300 b., choice

sk) ab)...

Year Ago $1.20 1.11% 8 H's TAY 1185 OR 033% 33 Jd00R 0950

Week Ago $ L10 JiRLG AR 325 6.725 1005 00 0320 36 1030 a9

Coke,

and hides. Coke, Tulsa:

Silver, comm). Steel Serap, Chi. Pig Iron, Iron Age comp. Connellsville 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—Chjcago: Grains, ilvestock, lard, steel scrap

East St. Louis:

bars

Boston: Wool.

Crude

(ton) ..

(ton) (ton)

ofl, New York:

15.9% 28.258 4.25 2.25 /0.00 52. nas 1.27

15.9% RB 4.25 2.25 60.00 52.50 95 1.2%

Zine, All others,

16.25

R71 3.98 2.58

50.00 38.00

OR? 1.1

Connelsville:

| > |

Last Che

= wa =

Adams Exp

Or > aa

— — Ore — DD Ww GF

Allegh Corp Alleg Steel ... Allied Chem Stores Allis-Chal Amal Leath

— Boesw LE

3D ~

Bank Note. Br

Am Am Am Am Am Chain & C. Am & PF Pwr Am&FPwr $6 pf Am&FPwr 2 pt Am Hide & L . Am Loco AmMach

Shoe ...

= NNT op pt we

SWRI LISI BOD Se uy

LS RRND ag SEO & we uy Fae ww 0 = = &

& Pdy

Alt ASS

a |

AFG DOMINANCE AFFECTS RAILS

Role of Good Samaritan Less | Evident as Claims of Agency Are Pressed.

By CHARLES H. HUFF Times Special Writer NEW YORK, Oct. 13.—~The Reconstruction Finance Corp, in the | opinion of many observers of the | railroad reorganization | | processes, is disclosing an intention | [to assume a major role, among creditors, in shaping the form of Gathering ev- | idence of such development is caus- | ing a dampening influence in various quarters where speculative activity in defaulted carrier securities | heretofore has been prompted by | optimistic hopes. | Because of the record set up duryears of the depression the RIC has been regarded as |

Good Samaritan, and there has | been no inclination to suspect that the Government agency would undertake to press its own claims those of other creditors, particularly bondholders. Such sus- | | picion has become strong, however, since the RFC presented its vigorous demands in connection with Denver and Rio Grande Western plan for reorganization, The demands were for cash or equivalent in satisfac= RFC loans, and a definite threat of reprisal accompanied the

The RIC is observed to be entering positively into the Missouri Pacific situation and it is suspected that the agency means to figure more assertively in the score or more | railroad reorganizations in | has interest as a creditor, instances heavily. Significance also is attached to the public intimation that the RFC at course as collecis feared, may alter of holders of de- |

of debt, it hopes

tor

Large Holders Withdrawing

Because of belief that the outlook various railroad reorganizations is undergoing a change, with respect to salvage prospects for some of the defaulted securities, marked withdrawal from recently concentrated issues in that category

Not long ago, when scattered spec- | vlators were fleeing from their positions because of the sharp market declines, it was reported that offerings were being quietly absorbed, on the downscale, by a few well fortified speculative groups who saw large potential profits in the long pull outlook. Even minor rallies, it is said, have heen employed to lighten such recent accumulations. Investment sellers in

this bracket of the carrier lien list.

Cautious Liquidation

The almost complete drying up of institutional liquidation of so-called money-rate high grade bonds, during periods of recent market declines, is explained by bond market

liquidation adopted generally by institutions, even though they still favor lightening their portfolio holdings. The pro-

titude toward

volves inconspicuous liquidation during intervals of rallying tendencies. Some institutions, also, have been influenced to defer intended liquidation, it is claimed, because ot a widespread theory that an intermeof fairly substantial Drop OR yore may interrupt the ma- » downtrend during weeks imme-

LOCAL PRODUCE

quoted are paid for stock the country. while for deliveries in Indianapolis the prices are 1 cent higher, Each full case of eggs must weigh 55 pounds gross 21¢c

oes No. 1 strict ly

{The prices gathered in

fresh, loss off 18c; Leghorn hens, 1', pounds and over, breed broilers, 1'z Ibs. and bareback broilers, 1l4c; old 9¢: voung ducks. 4 pounds and ec, old ducks 8 © ec! No.2 6c. No 38! «2 36%@ p 1, No

breed hens, broilers,

Oeuvy 13¢: heavy 19¢; Leghorn 17¢ roosters 1, No 32¢.

FOOD PRICES CHICAGO, Oct. 13 (OU. P.) N chigan, Mcintosh, 65chr $l Swe

ETH

A A pples— et Po-

| Am

| Bald Loco ct {Balt & O pt | Bayuk | Beth

| ChMStP&P pf | Ch | Chrysler

| Cons Film

Am Pur & It Am Rad & 8 8 Am Roll Mill Am Smelt | Am Snuff Am Stl Fdies Am Stores am Sumat \\... Am T & T Am Type F Am Ww ter w Zin . Anaconda la Anac W & Cable i Armour Ill . ™ Arnold Const Asso Dry Gds Atl Refining Atlas Corp Austin Nich ... Aviation Corp

TNE AS, EE, Seen aT mom

BC BIN I me re ID =F DF ~T EST > : 3 Fg = -n

or ¥» w=

ft 83 - oe Lt et et DT DUS =I EST

a i

Balt & Ohio

Barker Bros ... Qig .. Bendix Avn Steel .. Beth Steel f Blaw-Knox Boeing Air Borden Borg - Warner Bdgept Brass Briggs Mig Bkiyvn-M' T v3 Bklyn U Gas .. 2 Bucyrus-Erie Budd Mfg Budd Wheel urlington M .. Birought | Bush Term Bu tler Bros utte Cop Butte Jackson

Co»

De Se FLD JD BED -

a Bt Bt 53 BT BD nt pk SJ pk ik ok ok pk

BUND PPD WDE N= lB ID ob Sagas

| Callahan Zinc Calumet &

H.. | Canada Dry { € an cin

£3

‘Gen

£383

Foundry. . Rib ‘rtain-teed ‘hamp Paper “hes & Ohio “hicGtWest Ry | Chi Mail Order Ch M StP&P

DETR mT d= S30

& Nw Ry

Cleve Graph Br 3 Climax Moly Co 35! Colgate-P.p 27 Colum Gas Com Inv Th Com Solvents Commonw & Cong-Nairn Cons Edison

8303 SE -TIA = DJ/OIIT = LILI

Cons Oil Con Textile Cons Coal vie Container “ Cont Bak B .. n Cont Can 49 Cont Dia F Cont Mot ies Cont Oil Del cont Steel Corn Prod Coty ‘a Crane Co Crown Cork Crown Zeller ... Cub Am Sue .. curt Pub of .... ! Curt Wr curtss Wr A Cutler Ham

Dr IIIS Beeld msde DITA DDO EIDE ~I iA a ==

Deere Co Deere nf ‘y Del & Hud ac & WwW Sear Doehler D Cast Dome Mines .. Domin Strs .. Douglas Air ... Dow Chem Du Pont

L313 DO -

40 102 134%

BDI NEDDWE Fu .

tt LID

102 1341,

ats a Fz 8383 im ew

> & Mus Ind 2 Pwr. & Lt El Pw & L 87 pf Elec St Bat ‘ EIK-H Con! pf El Paso Nat Gas 21 Eng Pub 8S .. 6 Orie Erie Eureka Evans

£3 oe WIDOW DIdIEIJHITD Par x = oda @ 3 -

WA ODOODOPI—=IS DINE -TJ-TTD

pf vac Prod

= ue = 0

Morse Sug

Fair Fajardo A Fed Mot : 35% Fed Screw wo $n ) B Fed Wat 8 A .. 2% Fed Dep Si 24! Firestone T .. ! 247, First N Strs ... 36 Flintkote a 48 16

32's 34°

By United Press

| DOW-JONES STOCK AVERAGES

30 INDUSTRIALS | Monday or ago 162.85 | Year ago High, 193%, High, 1936,

194.40; low, 138.99, 184.90; low, 143.11. 20 RAILROADS

| Month age ....... ee Year ago High, 193%, High, 1036,

61.46; low. 35.40, 59.80: low, 40.86, 20 UTILITIES Monday Week ago | Month age | Year ago | High, 193%, High, 1936,

30.54; low, 2 36.08; low 7 STOCKS

| Monday

Week ago Month age Year ago High, 193%, High, 1936,

low, 46.2 low, 51.2

69.6%; 66.38;

5.14 +3.10 -d).05 -0.%2

High Vw

Follanshee v oi 3 Foster Wheel . 20% 20 20'% Robt . Wood Ind. Am Inv Baking Gen Bronze Gen Cable ..... Gen Electric .. Gen G&E A .. Gen Motors Gen Pub Sv .. Gen Ry

Gen Thtre il R ‘

Gair Gar Gen Gen

>»

_- ee

o_o, oF ENN Few

Sen en T& Gillette SR Gimbel Bros ... Glidden as Gobel, Adolf Goebel Brew Goodrich Goodyear Gotham Hos Granby . Glidden Ris Grand Union Gt North pf Gt Nor Ore Gt West Sug Green H L Grevhound Cp .

BO ot ptt BD BN SREB D = BTID DSA BWI

. 34 13'% , 301 23% 11's wf Ra 25 3'n 9 19% 14 2

13% 300; 23% 11's

Hall Print 25

Harbh-Walk Hayes Bdy Necker Prod Here Mot Hollander & Son Holly Sug 5 Homestake Houd-Her B Houston Oil Hudson Motor Hupp Motor

Il Central

| Inspiratn

| Inter

Ind Rayon Cop... Insshs cts Md Inter R T . Iron Int Harvester Int y

In A Intst D

| Kan | Kennetcott | Kinney

| Kresge

| Leh Val | Lehman : y | Libby Me & L..

{ Life

| Loew's | Loft

| Martin | Mathieson

2 | Mead

| Johns-Man

C Sou

Ds. 88 ! G&B. ..

Kresge

Kroger

| Lambert

Rub Vv

Lie Leh Coal nf...

L-O«F Glass Savers

Ine

Lone Star Cem

| Lorillard | Macy

RH Man Shirt Marine Mid .. Marshall Fld .. Gl '

May D S McCall Corp McCrory

| McGraw H

Mcintyre Pore McKeesport McKesson & Rob McKesn&Rob pf ! McLellan St Corp Mead Cp pf B Mengel "ala Mesta Mach ... Miami Cop Mident

| Midland T

Motor Whi

Net Last Change

a ba

75m

toes—Tennessee, bushel hamper 1pm lie.

S0c Carrots—TIllinois. bunches, | Spinach Tllinois bushel, 40% 75¢ | toes—California, lugs, $161.75 | flower--Colorado. crates, [email protected] California, go ny $2.30 3. 35@ 50¢.

CauliPeas

“Toma- |

Celery— i

Times-Acme Pho

to.

War supplies for a new drive on the Hindenburg Line of science— the mystery of the atom—go up at Cambridge, Mass., where the Massachusetts Institute of Technology is studying high voltage atomics. That

super-cannonbail being lowered into place is an aluminum terminal sphere below which, in a subterranean chamber, research will be con-

ducted.

Size of the job is indicated by the atom itself, one of the minute particles of which the universe is composed.

Murphy G © .. Murray

Nash-Kelv Nat Acme Nat Biscuit ... Nat Cash y . at Dai Dep i Yar “ Distillers

No Amer of No Am Av No Pacific

Ohio OI . Oliver Farm O18 ad ' Otis Ste owens i Glasn

Pac Am Fish .. Pac G El Pacific Ltg Packard

a * Parke Davis .. Pathe Film Patino Mines’.

Pond Creek Poca Postal Tel pf Press Stl Car .. Proctor & G Public Serv Pullman .. Pure Oil Purity Bak

0 Mot Republic Stl Revere Cop Revn Tob Rich Ofl

St L 8 Fra

td Oil N oh Starrent 1.8... Sterl Prod .. tew Warner tokely Ble Stone & Wi

uperior Oil .. Supprior Stl... Swift & Co .... Syming-Gld ... Syming-Gld XW.

Telautograph

Transamerica Trans & West Tri-Cont 20th Cent-Fox..

Ulen & Co .. Union B & P Union Carb Un Oil Cal Un Pacific Un Aircraft Op Un Air Lines. . United Corp United Drug Un Bl Coal... Un Eng & Fdy United Fruit Un Gas Im Un_ Paper Tor Bee pt

qdadaagacaaca

Stoel Un Stores Univ Leaf T Ut P&LA ..

Vadsco Sales Vanadium Va-Caro Ch ... Va-Car 6 pf

Walgreen Walker (H) Walworth Warner Bros Waukesha Mot Wayne Pump Web-Eisen ... West Md ...... West Pac ' West Pac pf .... West Union .. Westing El Westvaco 5 pf Wheel Steel White Mot White Sew M Wilcox O&G Wilson & Co Wilson pf Woolworth

Yellow Tr .. Young Sheet

Zenith Rad Zonite

Agricultural

for

EARLY NEW YORK STOCKS

High 63'e TY

Low 63%

Last

13 3

BT IRIN I RDI ~~ wns — OF OY BD SIRI BI RD NW SEE oe = me >» »» -—n =e » wn

15 4 10% 51%

361%

a Faw

—

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pk pk ek BOP BIRD tet TD

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BIA TICINI TI >»

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WONIDROIWR =O AIOE POWEAP EIT LDWW ~TODIW Dt ts LI wt

Pk pk kt IR 3 NSD SD NI DI

— = ==

pt WOBV-IVeD

9 227% 10% 3%

n" 10'4

Wabash pf A... 2

1810

. 38% v 1

47 15 34 3

109%

251; 31 14 2% 2" fl

4 3,

U. S. TO PURCHASE COTTONSEED OIL

WASHINGTON, Oct. 13 (U, U). —The Federal Surplus Commodities Corp. will buy cottonseed oil in a program designed to strengthen cottonseed prices to cotton farmers, the Adjustment Administration announced today. Both crude and refined oll will be purchased under the program and manufactured into shortening

distribution by agencies to persons on relief,

state

Net Change

|were in larger numbers today and

SEY Ya TV ov oP

++) 14 . ~ “ vu le WG rw Ea

+ a

++ ge ne

$e — aa

relief

[cleared at $11.65. [common offerings ranged downward a [to $7.50, but these made up only a | | minor

Take Quarter Loss as Top Dips to $11.

for hogs scaling above 160 pounds forced a 25-cent reduction today in such weights, ac= cording to the Bureau of Agricul ture, Lighter weight offerings and pigs had a sufficient demand to hold

fully steady. The top fell to $11 on choice 210 to 225-pound butchers,

Packing sows lost 25 to 50 cents, bulking $9.50 to $10. Improved quality in the rank and file of steers and yearlings meant a larger proportion of medium to good offerings and consequently increased activity. Prices ruled steady to strong at the week's advance. Top of $157 went to two loads of 1109-pound steers, while 966-poune yearlings made $14.50, There were weighty steers scaling 1271 pounds at $12.40 while two loads of 1044pound averages, medium in grade, Other sales of

Curtailed outlet

share of the crop. Heifers | also showed an quality, numerous offerings from $850 to $10 strong trade, Vealer prices jumped another half dollar today, mostly on account of a strong shipping demand. Good to choice descriptions cashed from $12 to $12.50, with mediums generally $10 to $11, Local packers, the same as on Tuesday, were willing to pay $11.25 for choice lambs, Shippers did their best not to exceed $11. Sales for the session as a whole were around steady with yesterday's average. Good to choice ewe and wether lambs moved from $10.50 to $11.25, with mediums, for the most part, at $8.50 to $9.50.

improvement in going in a steady to

Oct,

Receipts 7000 4000 4500 4500 #00 5500 #000 4000

$10.25 10 BS . B.75w 10.60

10. 80410.70 10.2501 10.65 10.654,10.95 10.40@ 10.70 10.7001 11.00 10.85@ 11.05

10.656 10.90 10.15% 10.80

0.75610.10 9.50@ 9.75 9.25 9.50 8.50 9.75

0.506 10.50 [email protected]

2 X 10.706 11.00 JAght Li hs (140-160) Good and Medium Lightweights . 160-180) Good and

Medium (180-200) Good and Medium

(200-220) Good 1220-250) Good Heavyweights (250 200) Good (290-350) Good

choice choice. .

choice. .

and choice. . and choice choice choice. .

1275-550) Medium Slaughter Pigs (100-140) Good and choice ' Medium ee CATTLE

— Receipts, 1000

$13.006 17 00 10.004.15.00 [email protected] 5756 8.25 15.006018.00 10.2601 16.00 B.2560112.00 6.7500 8.50 16.004 18.00 12,.006:16.50 8.500112 .50 16.5001 18.25 12,60@ 16.50

(550-900)

(900-1100)

Common (plain) . (1100-1300) p Taras

(1300-1500)

13.507 14.50 10. 75% 13.50 | 5.756 10.55 | 10.7561 14.55 | 6.00010. Sl

(550-750)

(750-800) Good and choice .

Common, medium

Good " Common, medium

? 0 Low cutter and cutter 30a 5.00 | 5 Bulls

Good (beef) Cutter, common ‘and medium .

Vealers Receipts, 500

Good and choice i ! 2.4 Medium ey 50 | Cull and medium . vs [ |

{ 17.25% 8.00 | 5.00 7.25 |

(250-500) Sod and choice . mmon, medium ' re and Stocker Cattle Steers (500-800) good and choice . Common, medium (800-1050) Good and choice . mmon. medium

8.00@10 | 6.00@ 8.00 | [email protected] 6.00@ 8.00

7.00@ 8.00 | 5.50@ 17.00 |

5.00 6.00 @ 5.00

Heifers— Good and choice Common and medium Cows Good vy lade ts sn ea Common and medium SHEEP AND LAMBS -Receipts, 1500— Lambs

50 5 50@ 7.50

3.00% 3.50

(90- 178) *Good and choice . C 1.75@ 3.00

ommon, medium .

FT. WAYNE, Ind. Oct, Hogs—10@20¢c lower; 225-2! 1bs., : 160-180 1bs., 275-300 Ibs. ' 150-160 1Ibs., $10. 10" 130-140 1bs., $9.90; 120-130 bs. 120 lbs, $9.40; roughs, 3 25; Calves—$12. Lambs—$10.25, LAFAYETTE, Ind., Oct Hogs—Market, 2be io $ Ks 50; 170-200 ibs. $10.25 10.50:

13 (U. P.),

: 1bs.. $0, 250 10, Roughs, $9.75 down; calves, | $11 50 down; lan lambs, S10. 50 | down. |

RAIL SHIPMENTS | HIGHEST SINCE 1930 (U. P).— |

NEW YORK, Oct. 13 Shipments of railroad rails in the | first nine months of this year | totaled 77,8901 net tons, more than | in any full year since 1930, the | American Iron & Steel Institute revealed today. In the corresponding period of | 1936 shipments aggregated 52,931 net tons while a total of 68,813 tons were shipped during the full year of 1936. Shipments in 1930 totaled 110,116 tons. Third quarter shipments totaled 23,883 net tons compared with 18,339 in the corresponding 1936 quarter.

ARGENTINE GRAIN

BUENOS AIRES, Oct. 13 (U, P.).—Grain futures opened irregularly higher, Wheat —November, Nig 1.39%, up %sc; February, $1.01%, es Corn--November, 58'4c, up ec; cember, 58c, up ‘4s, Oats— Spot, 28%c, unchanged. ax-—November, $1.37". unchanged; February, $1.29%, unchanged.

INDIANA LAW SCHOOL

(Of Indianapolis)

Established 1894 DAY AND EVENING DIVISIONS Write or Call Registrar 303-324 State Life Bldg. RI. 2890 Complying with rulés Rot the Supreme Court and the American Bar Assn.

WASTE-PAPER

AMERICAN PAPER STOCK COMPANY

R1-6341-6342

$20-330 W. Michigan St.

| Indpls Pwr

The Columbus Day “fireside chat” by President Roosevelt and his special session call were well received in the grain pits and all grains advanced. At the opening wheat was “% Ww 115 cents higher, corn was %: to 1% cents higher, and oats were 's to 4 cent higher. Liverpool opened higher today, but Winnipeg was weak on a selling movement centered in commission houses, In Chicago early trade sentiment appeared bolstered by the prospects of crop loans, chief item of “must” legislation on the President's list. Buying was in fair volume and all offerings were quickly taken. Minneapolis and Kansas Cily traders shared the optimism which prevailed here and prices in those markets were 1 to more than 2 cents higher, Corn prices in Chicago were strong. Talk of the probable amount of the corn crop loan filled the pit. Some indication of what farmers may expect was a statement given United Press by Senator Clyde L. Herring of Towa that “based on present cons ditions, I believe corn loans should bec 45 cents per bushel.”

WAGON WHEAT

| moment

Policy Will Be in Favor Of China, He Says.

By JOHN T. FLYNN Times Special Writer NEW YORK, Oct. 12.=At this most people are pissions ately indignant over the bombings from the air by the Japanese in China. Also a great majority of our people have been angered at the similar bombings in Spain and the action of Italy and Germany in sending armies to a country with which they are not at war, In the midst of that emotions= al reaction to these events the President has launched a Vie gorous denunci= ation of the war makers of the world. And it is difficult to see how anyone can be in disagreement with him in this

Mr, Flynn

rain elevators are paying for No Ne, other grades on their merits ‘corn, new No. 2 vellow, 30c. Oats

City re ash

2 1d 27¢,

WINNIPEG WHEAT Change October

December Ay

BUILDING BIDS EASE SLIGHTLY

Usual Seasonal Decline Does Not Appear, Report Shows.

Tae

Tue

NEW YORK, Oct. 13 (U, P) —~ Volume of building construction for which permits were issued in Sep- | tember was only 1 per cent below the August level compared with a seasonally expected decline of 10 per cent for the month, Dun & Bradstreet, Inc, reported today. The figure also represents a slight decrease from the September, 1936, mark. Aggregate for 215 cities in the United States during September was $86,710,800, compared with $87. 580,587 in August and $88,606,190 in September last year. Volume in New York amounted to £14.488718, an increase of 10 per cent over August, but fell below the corresponding 1936 figure of $17,- | 331,441 by 164 per cent. cent,

LOCAL ISSUES

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

BONDS

Citz Ind Tel (TH) 148 61 .. H Tel & Tel Ft W 5 55 H Tel & Tel Ft W 65 43 | Ind Asso Tel 425 65 Indiana Tel Co 5s 60 Ind Railways Inc 5s 67 ! Interstate Tel & Tel 5'a8 54. , Indpls Water Co 328 6 Kokomo Water Works 5s 58 Morris 5&10 Stores 5s 50 Muncie Water Works 5s 65 Noblesville H IL, & P 6'2s 47 Ohio Tel Serv 1

106%

Seymour H Trac & L 5% T H Water Works 65 49 Trac Term Co bs 57 STOCKS Belt RR St Yds com | Belt RR St Yds oid | Cent Ind Power pfd Ts Home T&T Fr W 7s Hook Drug Inc com Ind & Mich E 7s Ind Gen Serv Co Ind Hydro Elee com 7s pfd Indpls Gas Co com & Lt pfd 6s Indpls Pwr & Lt pfd 28 Indpls Water Co pfd Lincoln Natl Life Ins & ° com

| P Pub Serv of Ind 7s pfd Progress Laundry Co com 6s... 1 Pub Serv of Ind ptd Ts ..... Smith Alsop P&V pfd Smith Alsop P&V com Terre Haute Elec Co 6s Union Title Co com Van Camp Milk Co nfd Van Camp Milk Co com (By M. P. Crist & Co.)

xMarket St. Investing Corp .. 25.15 xEx-Dividend.

Stock Sales Up

SHARES TRADED ON N.Y, STOCK EXCHANGE

» o

~ o

DOTTED LINE 1S THE PAST . TEN YEARS AVERAGE OF THE SAME MONTHS

MILLION SHARES

«ANAS

THE PARKER CORP. GENERAL DISTRIBUTORS INCORPORATED INVESTORS

BOSTON, Oct. 13.—September stock sales on the New York Stock Exchanse were almost double August transactions and were up 8'; per cent from a year ago. The increased activity was due to heavy selling. The total value of all listed stocks on the Big Board dropped more than 72 billion dollars during September alone, and were 13'2 billion dollars less than the total value on March 1 of this year. The thin market which helped cause this rapid drop can also cause as

Ask | 103% | 106

106 12 | !

| England

| Canada | France

denunciation. It is certain that it expresses the sentiments of the nation, But while | raised and | stoned are so

is 80, the Issues the possibilities envitremendous that we ought to try, outside the range of our passions and emotions, to take a realistic view of precisely what has happened. Two years ago and again last summer, the people of this country were definitely committed to a pol icy of neutrality in the event of foreign wars. A neutrality act em=hodying that principle and feeling was passed almost without dissent in 1035 and again in the middle of (1037. It was passed by the repre=sentatives of the people in Cone gress and with so little opposition that it could be taken to reflect pretty clearly the wishes of the na« tion, Now a man could argue that this policy is wrong--and some very able | and sincerely patriotic people did. The only point being made here is that such a policy was adopted, that {it reflected the wishes of the nation and that it was embodied in a statute which is the law of the land.

Spanish Situation Applied

this

has taken a denouncing

applauds. Denouncing Japan is one thing, however, and calling for cone certed action against Japan i other. His Secretary of State f¢ | it up by taking a stand with League of Nations powers lo | toward an ultimate probable be of Japan. In other words, the ministration has set in n | measures which, if continued, ill logically end in a combination of nations against Japan and in favor of China. This may be a sound procedure. | We are not considering that matter | here. But, wise or not, one thing is | certain, It is a complete scrapping | of the policy of neutrality; it is in | effect a tearing up of the Neutrality Act as a mere scrap of paper, Maybe that act should be torn up as a worthless scrap of paper. But

n= vs e g t |= n

i Japan, which the country seemin ly |

; | the people will do well to ponder

that a national policy affecting war

“| and which was passed by their rep-

| resentatives at their behest has been | thrown away and a completely op- | posite policy adopted without their having anything to say about it and without Congress itself having any-

y | thing ,to say about it. A policy so

fraught with danger is certainly a thing which ought to be submitted to the representatives of the people

| who will have to fight the war,

FOREIGN EXCHANGE

NEW YORK. Oct. 13 (U. P.).—FPoreign

4 | exchange irregularly higher opening.

Cable Rates Ch ngs (pound) 4.95% no! (60-d. bill rate) (dollar) (franc) | Italy (lire) | Belgium (belga) | Germany (mark) Switzerland (franc) | Holland (guilder) Spain (peseta) Sweden (krona) Norway (Krone) Denmark (krone) Japan (ven)

LOCAL "PRODUCE

(The prices quoted are | gathered in the country, while for de= liveries in Indianapolis the prices are 1 cent higher. Each full case of eggs mush weigh 55 pounds gross) Eggs—No, 1 strictly doz. Heavy 1'2 pounds

Eng.

ona by

paid for stock

fresh. loss ofl, 21s

breed hens, 18¢c; and over. 19¢c broilers, 1'2 lbs. and over, broilers 14c old roosters ducks, 4 pounds and over, 12¢, old ducks,

|9 to 14 pounds, 6c Butter—No. 1, 38' No. 2, 3%';:@ 3%7¢. Butterfat-—No No. 2, 32¢c.

SAFE DEPOSIT BOXES

Reasonable Rental

Security Trust Co. 130 E. Washington

Member Federal Deposit Insurance Corp.

heavy broilers Leghorn breed 17¢; bareback fc voung

a 39¢c 1, 3c,

rapid a rise.

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

Indianapolis Office 200-214 Circle Tower

N N N: N N

Thomson & McKinnon

Chicago Stock Exchange

Winnipeg Grain Exchange

MEMBERS York Stock Exchange York Curb Exchange ew York Cotton Exchange ew York Coffee and Sugar Exchange ew Orleans Cotton Exchange

ew ew

hicago Board of Trade

And Other Leading Exchanges

LI. 5501