Indianapolis Times, Indianapolis, Marion County, 1 November 1937 — Page 11

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MONDAY, NOV. 1, 1957

NIGER Ie

ST EI Ne CA RE EE i

STOCKS EASE ONE

10 THREE IN QUIET

Few Leaders Regain

Small Amounts From Lows.

NEW YORK, N Nov. 1 (U. points in quiet morning trading today, turning dull and | steadied in the early afternoon. Some leaders came back small | amounts from lows, but there was | no disposition to buy. The reduced margin on long sales, effective | today, had been discounted. traders | said, and market men awaited furtheir developments in business before making additional commitments. Steel shares were heavy losers during the morning. U. S. Steel touched 60's, off 33, and Bethlehem 53%, off 2%. Rails eased with losses ranging to 2% points in Atchison and 4 points in Union Pacific. Case lost mors than 5. Chrys- | ler gave up more than 2 points

Coppers, utilities, chemicals and mercantiles were weak.

{ $11, but few were

Today's Business At a Glance

CORPORATION NEWS

American Light & Traction Co. and subsidiaries, 12 months ended Sept. 30 net income $5,846,684 equal to $1.82 a common share vs. $5.375,061 or $1.65 previous 12 months. Anaconda Wire & Cable Co., Sep- | tember quarter preliminary consolidated net profit $609,687 equal to $1.44 a share vs. $764,266 or $1.81 year ago; nine months indicated |

net profit $2,350.983 equal to $5.57 |)

a share vs. $1,679,968 or $3.98 year ago. Art Metal Construction Co., third quarter earnings were 63 cents a share and $344 a share in first! nine months, according to H. K.| Smith, chairman. Denver Tramway Corp., including | Denver & Intermountain R. R. Co., 12 months ended Sept. 30 net income $138.695 vs. $171,848 previous 12 months. Grand Union Co. and subsidiaries, | first 9 months net profit $259,874 | equal to $1.63 a cumulative pre- | ferred share vs. $211,482 or $1.33 year | ago; September quarter $96,383 or | 60 cents a share vs. $93,680 or 59 | cents year ago. Idaho Power Co., 12 months ended 30 net income $1307, B13 VS. |

193, 903 preyioms 12 month (Copyright, 1937, by United Press 5)

N. Y. MARKETS XE

Security and commodity markets in New York State will be closed | Tuesday, Nov. 2, for municipal elections, but major markets in other sections of the country generally will remain open. { Markets in Chicago, Kansas City and New Orleans will operate as usual. Stock markets in Cleveland, Bos- | ton and Pittsburgh will be closed. | but livestock and produce markets | will remain open. The St. Louis Stock Exchange will close after the morning session, but other markets will operate as usual.

U » WASHINGTON, Nov. 1 (U. P.).—Gov-| ernment expenses d receipts for the current fiscal vear rough Oct. 29, com- | pared with a vear ago: | S Last Year | 314 842 483.46 392,830,925.88 | 8922.011,55%.58 | 792.771. 781.27 321,218,864. 3.839.561.034.35 | .031,389,194.25 130.859.945.300 |

Total Pur, $1,270,062,806.44

Sep $1,1

Expenses ..$2,529,561.97 $2, Receipts 1,.974,316,3 Deficit Cash Bal. Work. Bal. Pub. Debt 3 Gold Res. 1 Customs

956.408.0021 2,801,580 150.780.861 31 To oday s Pur Gold 383.65

Inact.

HOUSE $3.673.000 8,330,000 |

INDIANAPOLIS CLEARING Clearings Debits

| last week's close, according to the | | Bureau of Agricultural Economics.

[25 cents higher.

| which made local | tractive

{in lamb prices.

| M | (1300-1500) { Go

S. STATEMENT |

| 2 red, 89c:

POINTS SESSIO)

Remain Steady

In Local Yards 5 §

Hog receipts eased around n market circle and the local trade | took a fairly light run stesMy with

There was an exception in he | sow trade as values ruled strong to| Choice 160 to 180-| pound butchers topped the market | at $9.80. Bulk packing sows with

| weight ranged from $8.25 to $8.75. |

Recent declines in the fat cattle | market have made the country wary | and today's receipts hardly offered | a test of the various classes, how- | ever killers were in a buying mood | and all kinds moved at steady to] Strong prices compared with last | week. After a slow start, the vealer| trade was stimulated into action by | higher advices at other centers, values look atto buyers. In a steady | trade, choice vealers sold upward to eligible above $10.50. Most mediums bulked at $8.50 to $9.50, lower grades down- | ward to $6. Light receipts and higher Cg values forced a 25 to 50 cent rise Good to choice ewe |

and wether lambs cleared at 10 vel

| $10.50, medium descriptions $8.50 to | [$9.50 and common throwouts down |

to $6. Slaughter ewes were steady | at $2 to $3.50. | i s | 3000 | Som | 1000 | 4500 |

9.80 |

DODD DODO wn Oh Cat kk £2 og

wo Gran an

3.25@ 8.90@ 9.55 |

8.55@ 9.80 2 Si

0 160) “Good and Medium Lightweig hts — (160~ 180) Good and Medium (180-200) Good and Medium (200-220) Good (220-250) Good | Heavyweights— 1250-290) Good 1250-350) Good

Packing Sows— (275-300)

choice. .

ded me rn

choice

choice. . 75 choice. . gy “| choice. . choice. .

en Shen

39 89

[YR

(425- 550) Good “nin (275-550) Medium | Slaughter Pigs— (100-140) Goo8 and choice .- edium —niann 25@ 9.2 25 | CATTLE —Receipts, 1000—

Choice

Owe wo wo dd wow

(550-300)

” = o

C (900-1100)

Common Choice G

DIHIIDID

2 oO 2 ~) — wo on o

SUN OL

i {piain)... (1100-1300) : “amu

mma Oa o Sm -1 wo

-— 2. Na 15. 50 Heifers | Choice Soot Common ' ] Good and choice... . Common, medium

(550-750)

(750-800)

Good “eu Common, medium « Low cutter and cutter Bulls (beef) ... . common and medium Vealers —Receipts, So ne choice { Med Cull

| Good Cutter,

700—

ed ‘medium ....

Good and choice.. [email protected] Common, medium 5.00@ 7.50 Feeder and Stocker Cattle Steers (500-800) Good and choice ommon. medium (800-1050) Good and choice.. Common, medium

(250-500)

ifers Good and choice Common and medium WS— Good ye Common and medium SHEEP AND LAMBS —Receipts, 800— Lambs— Choice Good .. Medium 8 20

3.50 3.00

“Good and choice.. Common, medium.

(80-175)

WAGON WHEAT grain elevators are paying for No. other grades on their merits. Cash corn, new No 2 vellow. 47c. Oats,

City

Flynn Says Reserve Board Mus Answer tor Margin Reduction’

By JOHN T. FLYNN Times Special Writer

1—Wall Street has gotten one prize out of

WASHINGTON, Nov.

its crash.

Wall Street liked the Roosevelt election, much as it hated Roosevelt,

because the day after election a flood A prominent banker said to me: have ever seen.” Now Wall Street has had a crash. A lot of people lost money in it, but! it did fatten up the market and now | it has gotten one of the things it has | been howling for—a reduction of | margins to 40 per cent. This makes | the crash a most successful one. It! was worth all the money the] customers lost. But in various quarters one hears the question being asked: Is the Federal Government going to go in for regulating the price of stocks as it does the price of cabbage and eggs and beans and other things in the Surplus Commodities Corp.? The Reserve Board's action in lowering the margins can be inter-|j preted in but one way. It must be assumed that the board is convinced that the markets are too low; that prices ought to go higher; that prices are too low because there are not enough people in the market; that therefore the way to get prices up is to make it easier for people to get into the market and the way to do this is to enable them to do business on a smaller margin. This would seem to be a very dangerous game into which the Government has plunged. How does it know prices are too low? What are its criteria for measuring the proper level of prices? And will it announce that prices are too high at some future time and take measures to get them lower? Suppose that prices are not too high. Suppose that the Government now lures a great crowd of people into the market to buy at

“This is the most successful disaster I

rising prices under the easier mar-

Allied Mills

Porker Prices ; p= |

| Armr Del pf ... | Armour Ill « Ih

| that

THE INDIANAPOLIS TIMES

PAGE 11

NEW YORK STOCKS

By United Press

—

High Low wy — High . 383%

Net Last Change Net Last Change Abbott Lab 385

| Adams Exp | Air Reduc

Air-Way EI Alaska Jun

| Allegh Corp ~~

Allied Chem ..

Allied Stores Allis-Chal ... Am Bank Note. Am Car & F.. Am OColur & FP Pwr Am&FPwr 2 pt 12% Am Hile & L 14 Mach & Fdy Hy Metal . 35 Pwr > at. P&L 6 pf . 48 Pal 5 pf A 40% d SS

1314 Roil Mil

Bs . 25% Sang . 153% t

S van DS Stl = . 283% T& 154

CHLEII +4

pd aoa

» Tn

Woolen .... Zinc Anaconda ..... 3034 Anchor Cap . 194 9812

31 wn . 13) 81 8!

2 8 4 8 2

437s 81% il 1%

4 103 93

Armstrong Ck.. Arnold Const . Asso Dry Gds.. Atchison . Atl Ref pf A... | Atlas Corp . Auburn Auto

Bald Loco ct wi Balt & Ohio Barber Co Barnsdall ' Beatrice Cr ....

pd Ol

f+: +f 1¥ aap n

Beth Steel Beth Steel 5 pf law Knox .... Boeing Air .. { Bohn Al Br.. | Borden . 20 | Borg Warner .. : | Briggs Mig Bklyn-M T . X Bklyn & Q Tr Bucy Erie -

fg Bag Wheel Burlington M .. Burroughs .. Butler Bros | Butte Con Byron Jackson.

i pa J wg

pho GI A G8 a

EDD DN

SHELLED

Callahan Zinc | Calumet & H

BOND SWITCHING

NOW UNDER WAY

Absence of New Issues Spurs Buying of Best Liens With Proceeds of Others.

| Times Special NEW YORK, Nov. 1.—Bond market performance this past week has provided evidence which investment bankers put forward as conclusive investment funds are being

securities at prices which a few | weeks ago would have been considered prohibitive. The continued cur-

| tailment of new financing operations

almost to the vanishing point is held responsible for that development. The return to extremely narrow yield investments has appeared in the high grade public utility section, apprehension about the status of the railroad industry being a direct factor leading to concentration in utility issues, As examples of the regained levels for public utility bonds, American Telephone and Telegraph 3%s of 1961 have again climbed to par and the 3's of the same company ma-

| turing five years later are only a

slight fraction behind. Similarly, Consumers Power 34s of 1966, which not long ago were below 97, have pushed ahead to 101, These issues are reminiscent of refunding operations when bond levels were at their peaks and yields were at their lowest. It is conceded that issues of this bracket are not active, being largely tucked away in institutional strong boxes, nevertheless the effect of continued scant supply of high grade securities is considered accurately reflected in such pickup investor buying. With prices still high and supply

small in both the Federal and mu-

nicipal markets, and with carrier

liens temporarily viewed with wavering confidence, strictly conservative investment has little other than

top grade utility issues to choose. Issue Welcomed Although recent security market

New

aisturbances might have led to a {suspicion that underwriting bank- | ers were taking a bold step in choosing this week as a time for offering the $13,000,000 issue of 10-vear 312 Boston Lighting Properties, offering was, spread for a hungry market. year term removed all possibility of encountering investors aloofness to (long-term projects. the flat 31; was regarded as highly attractive for a 10-year maturity, in view of the derth of comparable investment opportunities that has con-

per cent secured notes of North the a welcome investment The limitation to a 10-

in fact,

Priced at par, per cent yield basis

. fronted investors for many weeks.

of buy orders poured into the Street.

|gin rules. And then suppose the market goes up under the influence of that enticement. And then suppose it crashes again. Will not the | people who have been drawn into the market have a right to say they were deceived by the Government? Will they not lay their losses to Government encouragement of speculation? This is one of those acts which may yet return to plague Washington. It ought not to be the role of the Government to make any decisions about the justness of prices. Its role should be to see that there § a free market. It should labor to rtd from the market all influences and all mechanisms which are designed to create artificial prices and which interfere with the free play of competitive forces in making prices. The Government should not intrude to push prices up or to push them down. And the worst thing it can do is to range itself on the side of those who wish to push priczs up. For this is merely the first step in the process of making several hundred thousand people lose their money. This act, of course, was the act of the Federal Reserve Board and not of the Securities and Exchange Commission. It reflects again the board's apparent belief that the market ought to be active and that prices ought to be high in order to supply striking evidence of the soundness of business. It is a grave mistake for which the board will one day be held to answer.

France (franc)

The more recently gathered

strength of the utility bond group also favored the new issue. underwriters are hoping for signs to warrant proceeding with temporarily suspended financing for the public utility industry, it is not assumed that the success of the short-term offering is to be taken as an index of wholly restored investor enthusiasm.

While

FOREIGN EXCHANGE

NEW YORK, Nov. 1 (U. P.).—Foreign exchange opened higher. C Net

able Change +.00 3-16

+90 318

+ 0000's Italy (lire) . -+.0000's Belgium. (belga) : ~- 100013, Germany (mark) ... . +.0002 Switzerland (franc). --.00021% Holland (guilder) +.0000'2 Spain (peseta) Sweden (krona) <+.0001 Norway (krone) 19002 Denmark (krone) Japan (yen)

DAILY PRICE INDEX NEW YORK, Nov. 1 (U. P.).—Dun & Bradstreet's daily weighted price index of 30 basic commodities, com-~ piled for United Press (1930-1932 average 100): Saturday WERKE ABO .i.civiidivisisesi Month AS0 ....iiciieesiiiei Year Ago 1937 high (April 5) ......... 1937 low (Oct. 23) ...

Rates England {pounds ..4.96 5-16 England (60-day bill rate) ..

Canada (dollar) ....1.

30 Yuguoted 2559 2494 « 2216 2

.123.32 .125.10 .133.08 .130.12 .158.26 .123.23

Testes eres

ses seen enn

cesses

See Final Edition of the Times for Closing Stock Quotations and Other Late News

AOE DBI SDR

MARKETS AT A GLANCE

Stocks lower in quiet trading. Bonds irregular and quiet. Curb stock easy and dull. Chicago stocks irregularly lower. Call money 1 per cent. Foreign exchange mixed. Cotton futures steady at losses of 40 cents a bale. Grains in Chicago: Wheat unchanged to 1: cent lower; corn off 14 to 35 cent. Rubber futures weak. Silver unchanged in New York at 443; cents a fine ounce.

Net High Last Change Campbell Wy .. 193% ( Canada Dry 162 a Pacific 8% Jd 1 ..100 | Giver Tr... oR Cent Foundry . erro de Pasco a

Col Fuel & Iron 180s Colum Gas Col Pictures vtc 18° | Com Solvents | Sommenw & So om & So pf.. | Nairfh _.... {| Cons Aircraft .. Cons Edison . Cons Edison pf | Cons Laundries | Container ...... 1 | Cont Bak A

| Crane Co cv of 8 Crosley Rad .. Crown Cork ... Cr Cork cu pt Crown 3eller .. Crucible St .... Curtis Pub Curtiss-Wr .... Curtiss-Wr A .-

FREI ERNE LY:

+ .

. . . .

Deere &

Dou Du

las Air ... ont

East R Mill ... 7": Tia Eaton Mfg .... 24's 24g Eitingon Sch .. 53% 53% Elec Auto-L .. 253% 25% Elec Boat . « TH 2 Elec Pwr G Lt 12% 12% Hn gi Nat Gas 19% 19%

Erie 1 13% Evans 13% fe Fed Dep St .... 23 First N Strs .. 5» Flihtkote 17% Food Mach ... 352 Foster Wheel .. 20's

131%

rod «.. 133s

Gair Robt .. G Wood Ind. Bronze Cable Cigar .... Electric ...

RD -_ NN A LD es ~N

> WENN NEI =U WO 1-0

154 w > La © >

ok pk

ZI Adolf ... Goodrich 22 Goodyear Graham Paige . Granby Glidden rts. ... Gt North pf Green H L . 22 ound Cp..

Guilt. ‘Mobiied:No

' DEOL UTI BI ON BI +4 PI UN G0 OY wT =)

on LL a

It BIBS hts 00 POR WILNIOD

Hall Print Hayes Bdy . Hecker Prod .. Holland Furn .. Holly Sug . Homestake . Houd-Her B ... Houston . Hudson Motor. . Hupp Motor ..

TR LN

Im Central .... Indian Ref .... Ind Rayon .... inspiration, Cop Inter R Inter Son “ees Int Agric Int Harvester.. Int y Int Int T Int Int Int Int Int Intertype

. ..

—

hg ah Com Anko ee

ot pt

HIELILILR +e:

Poh a oem

—

- oom

Kan C Sou Jelsey-Hayes B. Kennecott .e Keystone Stl.. Kresge S S . Kroger G & BS -

1+: +:

RICK TH oo.co.. Macy R H 3 Man El mod std Marshall Fld. Martin Gl M=Solite Corp . DS

ies Porc. . McKeesport . .. McKesson & R. 1

sk HEL

pp.

tor W . Mullins Mfg B. Munsingwr .... 1 Murray

Nash-Kelv ... Nat Biscuit .... 2

Dairy Nat Distillers .

No No Pacific

Ohio Oil 14 Oliver Farm Eq Omnibus 9 pen Coll .... Otis Steel

Pac G& Pacific Mills ackard

Panhandle Paraffine Co Paramt Pict . Para Pict 2 pf. Park lUtah .... Pathe Film ....

Plymouth Oil .. Press Stl Car Press Stl 2

Purity Bak .

Radio .. “ee Radio-K- or Rem-Rand Reo Mot Republic Stl ... Reyn Spring Reyn Tob B Ritter Dent ... Richfield Oil

Safeway St Jos Lead ... St L-S Fran ... Savage Ar ... Seab’'d Air L .. Seab'd Oil .... 25 Sears Roebuck. na

BF uc rie 9 Shell Un Oil ... 19% ;

’

8 | West Pac pf ...

| EASE FRACTIONS

Net | Last change. | Silver-King ! Simmons

South Ry pf.... | Sparks With ...

y . 43 Stone & Web .. Studebaker “| Sun Oil v Sunshine Min | | Superior Oil ... Superior Stl ... Swift & Co .... 18 Sym-Gould .... 93 Sym-Gld xw ... 8's wl Tenn Corp .... 3% Texas Corp 45% Texas Gut Prog av, T 3 Sul .... 3

— -

df dt CORI TN PEI TRIE

— FE

Transamerion . Tri-Cont .- Truax Tra «..- Truscon Stl ... 20th Cent-Fox Twin Coach

ot 9 ot ons ’ wo

’

Und Ell Fish . Union B& P ... | Union Carb .. i Un Pac pf Un Aircraft Un Air Lines United Corp United Cp pf.. United Drug .. Un El Coal... United Fruit | Un Gas Im | Un Paperbad... U S Freight... J S Gypsum S Ind Alc .. S Leath A.. S Pipe & F.. S Realty .... S Rubber.... § S Rub 1 pf.. 2 S Steel...... 61! U 8S Steel pf.... Un Stores A . 3 Mt P& LA.

YA ea

tO Yd uy oi od a

wa P= DANWEI DDD TDI

~~ RESIS Un IunE oo rs a BER GOAN

8 Oy wt

Vanadium Van Raalte Va~Car 6 pf ...

Wabash pf A . ° Walgreen ...... 23's Walker (H) ... S34 Walworth g | Warner Bros os

Warren Br Waukesha Mot. | West Auto So {| West Md -

Ja 18 20 5

| West West

Union ... 32's Air Bke.. 2

Posters Revive Wartime Memories

Vivid back by

memories of 20 years ago are brought these World War posters. of 21 racks of posters to be put on display by the American Legion in the Indiana World War Me-

TO MAKE THE WORLD A DECENT PLACE TO NY

Here is one The exhibit is

inspection. = n

Legion Exhibit of Badges and Medals Opens Armistice Day

About 500 World War posters and a collection of war badges, medals

and trophies are to go on display , | Armistice Day, (ana World War Memorial.

Nov. 11,

the

The exhibit, sponsored by

| National American Legion, is to be

Worthington

Yellow Tr Yng Sheet

Zeni jth Rad Zon

WHEAT FUTURES

Lower Stock Market Trend And Quiet Export Trade Causes Grain Drop.

CHICAGO, Nov. 1 (U.P. .—Despite strength in Liverpool and Winnipeg, demand by local traders has been extremely light and wheat on the Chicago Board of Trade was lower. At the end of the first hour wheat was 13 to 2 cent lower, corn was 13 to 3 cent lower, and oats were 1s cent lower. A lower trend in the New York stock market prior to tomorrow's] election day holiday turned sentiment in wheat to the bear side. A quiet over-the- week-end report| trade was another discouraging factor. Early advances were wiped out | and losses instituted. Wheat re- | ceipts were 44 cars. Cash interests local traders sold rather freely in corn today and al-| though some houses with eastern connections bought, supplies prices were lower. Receipts were 627 cars and heavy arrivals were the chief bear factor.

N. Y. Bonds

By United Press BOND PRICE INDEXES 20 20 20 Inds. Rails Utils. 85.0 75.9 95.2 84.1 5 91.3 Month ago .... 88.2 83.9 97.4 Year ago 93.1 99.4 105.6 193% high ...... 95.0 101.2 106.0 100.7 1937 low v =i 922.3 82.3 (Copyright, 1937. Standard Statistics Co.)

NEW YORK, Nov. 1 opened steady.

Alleghany 5s '5 Australia 4'zs

60 Bonds 85.4 85. 3] 89.8 | 99.4 i

Saturday Week ago

C 5s’ Third Ave 4s

Curb Stocks

NEW YORK, Nov. 1 (U. P.).—Curb stocks opened easier, Net

Am G Ark Nat Gas Braz TL & P

Molybdenum Niag H P Pantepec Oil Technicolor UnLt & PA

LOCAL ISSUES

(By Indianapolis Bond & Share Corp.) The Jollowing 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) Hy 6

Ask 100 105

57 Seymour Water co 5s 49. T R Trac & L 55 44 ‘ T R Water Works 5s 56. T H Water Works 6s 49 Trac Term Co 5s 57

It RR St Yds com...... elt RR St Yds Be. Cent Ind Pwr hs Home T&T 7s. Home T&T Fe Ww 7s.. Honk Drug Inc com. Ind & Mich E 7 d Gen Serv Co Ind Hydro Elec com Te pid. . Indpls Gas Co com Indpls Pwr & i pid 58 ..... Indpls Pwr & Lt pfd 6'zs.. 86 Indpls Water Co pfd 5s. ..... Lincoln Natl Life Ins Co com. P R Mallory com .. N Ind Pub Serv Co pd’ 3ias.. N Ind Pub Serv Co pfd 7s. Pub Serv of Ind pfd 6 Pub Serv of Ind pfd 7s ...... Progress Laundry on 6s.

Van Camp Milk Co ‘pid Van Camp Milk Co com......

(By M. P. Crist & Co.)

| roosters,

1 1015e:

{| Michigan, McIntosh, 90c@

Market St Investing Corp..... 25.34

Pha

pen to the public daily from 10 m. to 5 p. m. It will continue

throughout November. Harold L. Plummer, assistant na-

«PENSION TAX AUDITS TO BE MADE IN FIELD

WASHINGTON, Nov. 1 (U. P.).— Internal Revenue Commissioner Helvering announced today that oldage pension tax returns will be audited in the field instead of at the Bureau of Internal Revenue here. This transfer, Commissioner Helvering said, will necessitate cutting by half the present forces of 620 employees in the Social Security tax unit of the Bureau here. However, employees in the field will be increased.

INDIANA LIVESTOCK

FT. WAYNE, Nov. 1 (U. P.).—Hog Market, 10-40c higher; 160-180 180-200 1bs., $9.50; 200-225 1bs., 250 1bs., $9.30; 250-275 lbs. $9 2 lbs., $9.10; 300-350 Ibs., $9: 150-160 Ibs. $9.40; 140-150 lbs.. $9.15: 130-140 lbs., $9; 120- 130 lbs., $8.85; 100-120 1bs., $8.65: roughs, $7.75; stags, $6.50. Calves—$11, Lambs—8$9.25

LAFAYETTE, Nov. 1 Market, steady; 9.70; 225-325 Ibs., [email protected]; [email protected]; 120-140 1bs., $8. 75@9: Ibs., $8.25@ 8.50; roughs, $8.25 down, Calves —$9.50@10, Lambs—[email protected].

CHICAGO, Nov. 1 (U. P.).—Hogs—Receipts, 16,000, including 4000 directs: marcet, 10c higher; top, $9.60. bulk good and choice 150-180 1bs., [email protected]; 190-230 1bs., [email protected]; 240-300 1bs., $9@9 50; few butchers, 320-360 1bs., $8.70@9; packing sows, $8 8.50. Cattle—Receipts, 18,000; calves, 3000; long-fed weighty steers, scarce; orderbuyers after kinds scaling 1200 1bs., up; market, firm; light steers and yearlings, slow, steady to weak; she-stock, steady but slow; short fed heifers, scarce; grain fed steers, $17 up; prime 1821-1b. weights, $19.85; stockers, 25¢ higher; good and choice, showing advance; bulls and vealers, strong; bulls, $6.50 down; vealers, $10.50 down. Sheep—Receipts, 12,000, including 2000 directs; fat lambs, slow; bidding, 15¢ up at $9.75@10 on natives; choice, $10.10 10.15 and better; ewes, steady; $3.40 on good to choice; feedings lambs, steady to easier, $9.65 down.

CHICAGO PRODUCE

3842 cases; 26c,;

0 a.

(U. P.).—Hogs—

firm: receipts, 23c; extra firsts, 22¢c; checks, 17'z¢; dir-

steady: receipts, 7898 score), 35c¢c; extra firsts (90-9115 score), 333; @33%c; firsts, 31'2@ 32¢; seconds, 28@30'% oC; specials, 35% @ 36¢c; standard, 34'sc: centralized = score), 32c. centralized (88 score). 31! Poultry—Market, 1 Dendy: receipts, 15 trucks; ducks. 16 2C; Ree 16¢; hens, 17'@21c; sel nels So@azc. 14@15¢; broilers, J1@26c; REE 16 22c; Leghorn nens, 14'z Cheese—Twins, Bele. ‘Daisies, 19% Longhorns. 19, * demand, slow; Burbanks, $1.30

Potatoes-—Supnlies, ry market, dull, Idaho Russet @1.45; U. S. No. 2, $1.12'[email protected]; Colorado Red McClures, $1.50: North Dakota Bliss Triumphs, $1.22'5: Minnesota Red River Cobblers, $1; Minnesot® Early Ohios, $1; Wisconsin Round Whites, $§1.02'2; Michigan Russet Rurals, $1.10. Arrivals, 207; on track, 484: shipments, 988 (Saturday).

FOOD PRICES

CHICAGO, Nov. 1—(U. P.).—Apples— $1.20. Sweet Potatoes — Tennessee, bu. Champers. 75@85¢. Carrots—1Illinois, bunches, 1l2@2'2¢c. Spinach—Illinois, bu., 35@75c. Tomatoes— California, lugs, Cauliflower— California, crates, . Peas—California, hampers, $203 Celery—Michigan, square crates, 40@75¢c. Onions (50-1b. sacks)—Minnesota, vellows, [email protected]; Washington, Valencias, 95c.

Eggs—Market, frock graded firsts, current Seceirts, les. 191; Butter- “Market, tubs; extras (92

LIVERPOOL WHEAT

High Low Close $1.207% : 1

1.22% 1.23%

New Business Books Available at Library

The following new business books now are available at the business branch of the Indian-

apolis Public Library: INDUSTRIAL RELATIONS IN URBAN TRANSPORTATION, by Emerson P. Schmidt. For owners and managers of local transportation systems, for investors, for regulatory and arbitration bodies, for students and for white collar Je all other workers in the industr FIND MY VOCATION, by H. D. oR New edition. Textbook for school courses in choosing a

DIES IN FEDERAL TAXATION, by Randoish E. Paul, A ma bor contribution to an understanding f the difficulties eficotntered in ad-

Ministering tax jerisiati MANUAL OF LITHOGRAPHY, gomp d by pavard Brothers, Inc. rinte by oh otogr NRA ECO omic P PLANNING, by Charles F. Too An endeavor to appraise constructively this great undertaking,

® NEON o SICNS

Indianapolis Electric Sign Co. 228 N. ALA. “ LI 5674

in the Indi- | exhibit.

tional adjutant, has apolis school children to attend the The invitation was de-

livered to School Superintendent

| DeWitt S. Morgan.

Mr. Plummer said special guides would be available to escort civic and fraternal organizations planning to attend the exhibit.

Booklets Prepared

The posters, which have been lacquered and mounted on linen, are to be attached to 21 large display racks. The Legion has prepared souvenir booklets in which each poster is listed by number. The collection of medals will include not only those awarded by Congress, the Army, Navy and Marine Corps, but also those of England, France, Belgium and Italy. Another display will consist of the bound volumes of the original issues of the Stars and Stripes and the Amaroc News, American Expeditionary Forces official newspapers.

ENGINEER TO SPEAK ON ELECTRICAL WORK

Carries Laboratory in Auto To Illustrate Talk.

Dr. Phillips Thomas, Westinghouse Electric & Mfg. Co., engineer, is to lecture on “Adventures in Electricity” at 8 p. m. Thursday at Shortridge High School under the sponsorship of the Indianapolis

Electric League. Ted C. Brown, league secretary, said that Dr. Thomas carries with him in his auto a laboratory fitted to illustrate his talks, and that he is one of the best known of the

“electrical wizards.” Dr. Thomas has been associated with the Westinghouse research laboratories since 1911, and has received many fundamental patents in the field, Mr. Brown said.

AUTO FINANCE MEN TO ATTEND PARLEY

Indianapolis auto finance men

plan to attend the fourth annual convention of the American Finance Conference in Chicago Nov. 10 and 11. Delrgates will act upon questions affecting the installment purchase of automobiles throughout the nation. Senator Barkley (D. Ky.), Senate Majority Leader, will speak on “Monopoly and Government.” Among the Indianapolis members of the conference expected to attend are: Fred L. Mahaffey, Consolidated Finance Corp. president; Donald Jameson, Equitable Securities Co. president; Fred D. Norris, Guaranty Finance Co., Inc. treasurer, and Homer L. Archer, Universal Finance Corp. treasurer,

QUELL MUTINOUS ROW ON U. S. SHIP

HONOLULU, Nov. 1 (U. P.) .—Police who went to sea to quell a disturbance aboard the Isthmian Line freighter S. S. Maine, reported today that the situation was under control before they arrived and the vessel had proceeded toward New York. The ship's captain, Richard Hocken, had called for police by radio, complaining that three members of the crew refused to obey orders.

and will continue to Dec. 1.

Kirkpatrick Photo.

morial Building in the 400 block of N. Meridian St.

to begin Armistice Day, Nov, 11, It is open for public

extended a | formal invitation to 70,000 Indian- |

HENRIK MAYER WINS ARTISTS’ CLUB PRIZE

Herron School Officials Work One of 90 Shown.

Henrik Martin Mayer, assistant director of the John Herron Art School, received the first prize of $50 for the most meritous painting at the annual Indiana Artists’ Club exhibition, which opened Saturday in the galleries of the L. S. Ayres & Co. tearoom foyer. The exhibit is to continue through Nov. 13 and is open to the public. The award to Mr. Mayer was based on the most meritous work irrespec=tive of subject or medium. The painting is among 90 pictures being exhibited by the club members. Among other winners were Helen Briggs Young, second prize of $30, for a pastel figure composition, and a third prize to Theodore Van Voor= hees, head of the Shortridge high school art department, for a moune tain landscape.

Three Others Honored

Three merchandise awards were made to paintings coming next in merit to the money prize winners. Exhibitors receiving the awards were Floyd Hopper, Dorothy A. Spiegel and Will Harvey Hunt, Mr, Mayer's work is a “bouquet” in a jade green vase. It is composed of a bunch of sourdock seed tops, some wild grasses and some milk= weed pods with the feathery seeds spilling out.

Art Week Contest Opened by Society

An essay contest for high school pupils is to be sponsored by the Ine dianapolis Art Association in obe servance of American Art Week, which began today. The association is to offer a $10 prize for the best 600-word essay on “What I Enjoy Most at the Art Institute.” The winner is to be named Nov. 9, two days after the contgst closes. Judges are Mrs. Val Nolan, Mrs, Glen Diddel and Dr. Jean S. Milner,

BUTLER SCHEDULES FIRST CONVOCATION

Butler University students will assemble for the first all-school convocation this year on Tuesday, Nov. 23, in the small gymnasium at the Fieldhouse. A Thanksgiving address will be delivered by Dr. George A. Franz, First Presbyterian Church pastor, The department of Christian mine istries in the College of Religion will be in charge of the devotional program. Music will be furnished by the university choir. Prof. Arthur L. Holmes and Prof, Donald C. Gilley will be in charge.

POISON VICTIMS RECOVER

HOUGHTON, Mich, Nov. 1 (U. P.).—Seven CCC boys and two Nae tional Park Service foremen, stricken with food poisoning Saturday night on Caribou Island, have re= covered completely, Lieut. W. H. Billings, CCC supply officer, said.

ERNEST LAEMMLE TO WED

HOLLYWOOD, Nov. 1 (U. P.).— Odetta Bray, Hawaiian dancer, was en route to Honolulu today, and will return soon to marry Erneste Laemml,e, nephew of Carl Laemmle, veteran movie producer.

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