Indianapolis Times, Indianapolis, Marion County, 5 November 1937 — Page 38

PAGE 38

STOCK LIST GAINS

SLIGHTLY

10 MORE

THAN TWO POINTS ::

Radio Corp. Dividend Causes Market | Advance. | |

NEW YORK, Nov. 5. (U. | P.).—Radio Corp. of Amer-| ica’s declaration of a 20-cent- | a-share dividend on common | stock, the first in its history stimulated the stock market

today. Prices throughout the list advanced fractions to more than 2 points. Gold issues were prominent on the upside and Homestake mining | made a new high at 53, up | points. Steels showed gains ranging to more than 2 points in Beth- | lehem. Radio crossed 8 for a gain | of nearly a point. Demand for the gold stocks ac- | companied reiteration of European rumors, entirely unconfirmed, that the United States was planning to raise its gold purchase price which now is $356 per fine ounce. In London gold rose to above the $35 parity and the dollar sank to a discount. United States Steel reached 59%, up 2% and held more than half of it; Atchison 39%, up 1%; Chrysler 3%, up 21%; du Pont 122%, up 4'%; Westinghouse Electric 100, up 2%; Sears-Roebuck 66%, up 2; Loew's 611s, up 3%, and Consolidated Edison 25, up 15 Sie

Today’ S Business At a Glance

CORPORATION NEWS Baldwin Locomotive Works and subsidiaries, including Midvale Co., first nine months net profit $423,638 equal to 41 cents a common share. No direct comparison available. Continental Can Co., 12 months ended Sept. 30, net profit $8,589,430 equal to $3.01 a common share vs. $10,685,080 or $3.76 previous 12 months. Dixie-Vortex Co., 12 months ended Sept. 30, net profit $946,450 equal to $2.46 a common share vs. $910,488 or $2.28 a share in the 12 months | ended June 30, 1937. | General Water, Gas & Electric | Co. and subsidiaries, 12 months ended Sept. 30 net income $424,144 equal to 90 cents a common share vs. $377,806 or 69 cents previous 12 months. Reliance Manufacturing Co. of Tllinois, September quarter net loss $112,383 vs. net income $383,912 year ago; nine months net income $71,811 vs. $821,179 year ago. Seaboard Qil Co. of Delaware and subsidiaries, September quarter net profit $552,164 equal to 44 cents a share vs, $638,853 or 51 cents previous quarter and $611,068 or 49 cents ar ago: nine months $1,782,382 or 43 vs, $1,837,276 or $1.47 year ago. Nn Auto Supply Co. September quarter net profit $024,761 equal to $1.23 a common Share Vs. $727,218 or 97 cents year ago; nine months $2.001,703 or $2.66 vs. $1,312,195 or $1.74 year ago.

STEEL PRODUCTION DECLINES 3 POINTS

Metal Output Dips to 48 Per Cent of Capacity.

NEW YORK, Nov 8 (U, P).— Steel production has dropped to 48 per cent of capacity, a decline of | 3 points from last week, Iron Age | said today in a further adjustment to the small volume of new business. Only in the Pittsburgh district has the rate been maintained at the previous week's level, the magazine said. In Pittsburgh the operating rate is 42 per cent of capacity, “October sales of steel were 15 to 30 per cent below those of September depending upon the company and the product, the chief decline heing suffered by the heavy steels.” Tt appears, however, in buying has been checked but the chances of marked improvement have been lessened by the hand-to-mouth buying of the automobile companies, upon which much dependence has been placed for a business pickup. The outcome of the New York automobile show, re- | sults of which will be announced | this week, is expected to have a pronounced effect on steel purchases of automobile companies from now on.

INVESTING CO.’S

12 5%. SURDS 5 1 4.81 Inv Pd . 17.25 Keystone |

Bid Adm Fds 2 11.90 Affil Pd 4.35 Am H Cp 15.50 Am Bus... 1 Am Ins .. 4.50 Bos Pdinc 15.68 Proad St. .23.39 Bull Fd 13.25 Cent Trst 20.33 Comwlth 3.38 Cntl Shrs 60.00 Cp Ae 2. 3%

2.1 213

3.62 Mir Shrs 850/Md Fd .. ‘ MassInvTr + +. Mut InviPd 7 ..|Nat-Wdesec 3.25 Sd." a. © Natl Inv... 5.

3 an AA mod " Acc mod Cuml Tr Dep Bk NY Dep Ins A Dep Ins B Divid Shrs

BOD BID 19 DPA TO ID DIiIIIS

. 9 e Found 3.75 4.00/N go 1055. Fd IRVING 16.06 17.05! °’ rd T™ A 4 .67 Ye 1958 Cae

5.25] B 4.25 IPlym Fd A. Gen Cap 29. 95 32.30Quar Inc .10. g Jen Inv Tr 47¢ 5.15/Rep Tr ... 9.35 Group Securities— |S Agricl. ... 1.24 ji

Auto ...._ .90 ve 68 Bldg - 1.25 1.258penc Tsk 14.39 Chemical. 1.18 1.20'8td Util... .53 by 77 .85/StateStInv 86. 4 81 -351Supe: Cn B 3.1

Inv Shrs. Merch

Mining 4 3 Tt a 2.34 D

that the drop | ©

Hogs Decline 10 to 25 Cents

In Local Yards

Hog prices in the local market declined despite improvement in the pork trade, according to the Bureau ‘of Agricultural Economics, Weights |between 160 and 200 pounds were 10 to 25 cents lower, with other weights 20 to 25 cents lower than Thursday's averages. Packing sows were weak to 25 cents lower. The [trend toward lighter weights caused buyers to split the weight schedule

and top was $9.75 on choice 180 to 170-pound butchers. The usual week-end cattle market | found no price differences on any class, either in the slaughter or replacement divisions. No sizable ship-

[ments of steers were uncovered, odd

head fed light yearlings noted up te $12, common and medium scattered lots of both steers and heifers around $6 to $9. Package good heif-

ers scored $10 to $10.50. Beef cows

were of a kind to sell from $5 to $6.50, cutter grades, $3.50 to $5; few below $3.75. The practical limit on medium sausage bulls weight remained at $6.75. Steady to strong vealer prices had the support of all buying interests. Good to choice offerings held at $11 to $11.50, common to medium sorts {rom $7 to $10. The practical top on choice native lambs was listed at $1050 in a steady to 25-cent lower trade, bulk of the good to choice selections $10 to $10.50 with medium fleshed offerings from $9 to $9.50 mostly and common throwouts $6.50 to $8. Choice fed Western lambs scaling 66 to 104 pounds sold unchanged at $10.75. Slaughter ewes were unchanged at $3.50 down.

HOGS Bulk 556) 9.80 55@ 9.80 55@ 9.80 55 a) 80 70 au 10 00 @ 9.85 @ 9.75

Receipts 4000 4000 1000

4500 5500

$¢

4 701 60 15

9. 9. 9. 0. 9.45 9. 9. 9. ight Lights— (140-160) Good and

Medium

Lightwei 6 i choice...

(160- 180) Good i Mediu (180-200) Good nd Medi

ediu (200-220) Good (220-250) Good Heavvweights— (250-290) Good (290-350) Good Packing Sows— (275-300) Good (350-425) Good (425-550) Good (275-550) pra umn Slaughter (100-140) Food ue Hie Medium .

‘choice. . ‘choice. . choice. .

m and and

9.15@ 9.% 9.00@

cho.ce..

end choice...

R50@

CATTLE -~Receipts, 600 Choice

(550-900)

Ley — OF I ORBAN JV ED INOW PDINGO

(900-1100) Sood

3DIEDD Son

(1100-1300)

fk 5d

P00 AD TS TRITON 2

2333gkaagaen3 OOD DTWMP ONAN ot fh kh fh fh pt fh DOAN AID 3323333

993

(1300-1500) Good

(550-750) Gi 3 a1. 00 25@ 9.75 [email protected]

pie 7.75 b.26@ 6.25 3.50@ 5.25

Gon: . Good ha choice

(750-800) Common, medium .

Good .. ommon, mediu Low cutter and Toutter .

8.75@ 1.75

Good (beel) 4.75@ 6.75

Cutter, common and medium.. Vealers —Receipts, 600 Good and choice

Medium Cull and medium

(250-500) Good and choice.. Common, medium Feeder and Stocker Cattle Steers (500-800) a) and choice mmon, medium

(800-1050) Good and choice. . Common, medium.

: Of SIA ba BD ovo An NO Sow; Bo 93 JOO a3 ou vows on Sn aoNS

Heifers = Good and choice . Common and medium Cows— Good “avy Common and "medium

SHEEP AND LAMBS ~Receipts, 1500—

sa ony 28 83

1.2352 n.2

8.50@ 8.25

3.00@ 3.50 2.00@ 3.00

Common Shorn Ewes— (90-175) Good and choice. . Common, medium.

CHICAGO, Nov. 5 (U. P,).—Hogs—Receipts, 13,000, including $000 directs; narket, steady with Thursdav's average, ac- , $9.70. good and choice 190-230 oo, J8e Ibs., [email protected],; feKing

YI Bi tows, Ti Newel ts, 8. [email protected]. eceipts, 1500: calves, 500; Mi one load medium steers, 1200 Ibs., $10.50; supply mostly cutter and common lightweights at [email protected]; heifers downward from $7.50; low cutter and cutter cows, [email protected]. beef cows, $5.2578.50. bulls, steady at $7; vealers, strong $11.50

7000, including 3000 sales choice native, top, $10.60;

240-300 1bs., $8. Se s 65;

Sheep -- Receipts, directs; slow: early 10 to 25 cents lower at $10.50; ewes, steady, $4.50.

LAFAYETTE, Nov. 5 (U. P.).—Hogs-— nts lower; bulk 160-200 @9. 0; 250 1bs., $9.20479,30; . $9@9. 0 130-160 Ibs., Ibs., [email protected]; roughs, $10.50@11. Lambs,

Calves, FE 50

FT. WAYNE, Nov. 5 (U. P.) — Market, 10 cents lower, 160-180 ibs., 180-200 Ibs. 200- 1b 250-275 Ibs.

250 Ibs. $9.20: 140-150 0-35 £9.05: $8.75; 1

bs., $9.05; 120-130 Ibs, roughs, os. stags, $6.75. Calves, $11.50.

Lambs

U. S. STATEMENT

WASHINGTON, Nov. 5 (U. P,) ~QOovernment expenses and receipts for the current year TR Nov. 3, compared with

a year ago: 5 Yeu L v ast Ye * oo & 3 $2,410,938 764.71

ae 300.42 ki 85 5

Hog: 59. 55: 25-

Expenses .

3 Receipts 7 106,364 J0 235 33 4 . 3

Customs Inae. Gold

INDIANAPOLIS CLEARING HOUSE Clearings

5,428 217 bi TY,

"a . ir, 777.96

Petroleum 2.29 RR E . La ve A.... $27 1. 1.22 »

B 5.62 1.02 Trst Am Bk .64 40 80 Trst Ind 93 16590 17341 WIL & P vt Rrrvest Bank Corps.— Well Fnd 1st BosCp 11.37 12.87

FOOD PRICES

CHICAGO, » Nov. 8 (U. P.) Apples Michigan, McIntosh, $1.15%1.35. weet Potatoes—Tennessee, bushel hampers, 75a Carrots—Illinois, bushel, 25@40c. Spinach—Illinois, bushel, 35@85c. Tomatoes—Callfornia, lugs, $1@3. Cauliflower ~-Qregon, crates, $161.25. Peas —California, hampers, [email protected]. Celery— Michigan, square crates, 40@75¢. Onions (50-1b. sacks)—Minnesota, vellows, Ynencias, $icasl; Tows,

Ean.

3 1.08/Supvd New 530 07 1 12

03 "mo |

1.02 | g 88 | 13.45 14.50 |

$1.05;

Debits

LOCAL PRODUCE

(The prices quoted are for stock gathered_in the country, while for deliveries in Tndimnupons the prices are cent higher. Each case of eggs must weigh 55 re undt OSS 4 ahictly fresh, loss off, 24c. Heavy Breed Hens—4l: pounds and over, 18¢c; under 4'; pounds, ; heavy springers, 12 pounds and Rg 18¢c; Leghorn springers, 1%, pounds and over, 15¢; bareback broilers. 14c; old roosters, 9c; oung ducks, 4 pounds and Verh J, old d du Reks. 8c; geese, 9 to 14 poun 9c: turkeys. young mens, 8 pounds and ver, ade; ome. . Jphounds and over, No. vt

3c;

ERE, hie

THE INDIANAPOLIS TIMES

By United Press

NEW YORK STOCKS

Low 10%

52 12%

Last A

» 127% 10V2 43% 1412 137s 4, 22 14% 63g

129 51%; 12

30% 117% 38% 27 TV 38

a Va

1 431% “y

Vg 1%

HH rosie

Am & F P A & F Pwr $6 i Am Mach & Fdy 14% Am Pwr & Lt. 6% ui ‘ Ya "54 Ys

| +:

RA Vs Ya wa Bin Bald Logs ct wi 8% Balt & Ohio ... 132

8% 12% 14% 13% 50 16

Vg Vs

I+ ++]

+ %

1% Jorg-Warner vs 5 ept NLS 3 Ys I S “ee BRiyheM ;

Burroughs Callahan Zinc... Canady Dry ... Can Pacific ... Cannon Mills... Capit Adm A.. Caterpillar T. 5 Cerro de Pasco. 42'% Shamp Paper 31% Chee & gore: . 367% Chi E Chi Gt Ww Ry ot 51% Chrysler o 701% City T & P....\ 13% Cluett Peab ... ; Col & Aik Colum Gas Com Cred cv ‘pf 467% Com Solvents . 8% Comnw & So . 1% Cons Cig prpfxw 24 Oons Edison pf. 97 Cons Oil 1 Container Cont-Dia F .... 10 Cont Qil Del .. 31% Crane Co cv pf 92 Curtis Pub .... 8 Curtiss-Wr ... Curtiss-Wr A 119s Cutler-Ham ... 22'z 22% i. vee 24 24 we , 8% 8% 21 15% 1

Deere & Co

Douglas Air oe 8 Du Pont coe 110%

wll

East R Mill ... 63% Eaton Mfg . 21 Eitingon Sch vo BV Elec Boat 7 Elec&Music Ind 4!% Elec PYL Tb 1234 Erie 1 pf 12 Exchange Buf . 2

FedDepSt cv pf 74 Fid Phen 30 Firestone T ... 22'% Pirst N Strs .. 32% Flintkote Cay A Francisco Sug. .

Gar Wood id A mI

Gen Rty & o.. Gillette S R ... Glidd

Hudson Motor . Hupp Motor ...

I Central ...» Inspiratn Cop Inter R T Inter Rub Inter Iron

LOCAL ISSUES

(By Indianapolis Bond & Share Corp.) The Tollowing quotations do hot represent actual s or offerings but merely indicate the approximate market level based on buying and selling inquiries or recent transactions.

BONDS

> “a »

kd pk ed ek So »

ndpls Water Co 3 Kokomo Water Works 8s 58... Morris 5&10 Stores 5s 50 ....

DY DB IRIN AR ND

ra . i R Water Works 5s 3. T H Water Works » 49. Trac Term Co 5s

kk fk ok fk ft ok Pl + Pd fk kl NW-Ta0

Belt RR St Yds com. Belt RR St Yds pfd.. Cent Ind Pwr 7 oe . Home T&T Ft i

Hook Dru Ind & Mic nd 8 Gen Serv

Lincoln Natl Life N Tha Pup Sere fd n ub Serv Co p Sas. . N Ind Pub Serv pfd . N Ind Pub Serv Pub Serv of Ind pfd 6s . Pub Serv of Ind pfd 7s Progress Laundry Co com 6s., 1 Smith Alsop P&V pfd Smith Alsop P&V Pom Terre Haute Elec Co 6s Union Titie Co com Van Camp Milk Co pfd Van Camp Milk Co com

(By M. P. Crist & Co.) Market St. Investing Corp ... 23.89

7 DOW-JONES STOCK AVERAGES

30 INDUSTRIALS Cer Ree ee vee 128.84 veeeesesreeeees - 188.48 144.03

-—1.30 +3.26 2.56 -p.62

Yesterday Week ago Month ago ... Year ago High, 1937, 104.40; low, 125.73, High, 1936, 184.90; low, 143.11. 20 RAILROADS

Yesterday Week BRO .vsvivesesrssrenes 34.68 Monith ag0 wvvvvvvearaireves 37.26 WERT BEY ovr ee ooo. D808 High, 1937, 58.08; Tow, 30.09. High, 1936, 59.89; low. 40.66. 20 UTILITIES eee veneers SHE8 22.48

Yesterday Week ago Month ago Year ago High, 19387, 87.54; low, 19.85. High, 1936, 36.08; low, 28.63.

Yesterday Week ago .... Month ago ....... ERE eee Year ago High, 1937, 69.67; low, 41.52. High, 1936, 66.38; low, 51.20.

Low y

Net Last Change Va ™s + %

High Tih wa i ves 18 I Kalamazoo ive 18 Kennecott . 31% Kimberly C . 25 Kroger G & B.

Int T& T «oe

Johns-Man 8 8

18 31Y 25

Lehman New .. Lehn & Fink. .

Link Belt ...... 3 Loew's Loft, Inc “e's Loose-W Bis... Lou & Nash..

MacAn&F Mack Tr a Marshall Fld ve Masonite Corp . 29 Mathieson ..... McIntyre Pore.. 0-K Tex

WHEAT FUTURES DROP FRACTIONS

Local Selling Pressure Causes Grain Price Decline.

eh Va Ya 1% Ya

4 + ade

CHICAGO, Nov. 5 (U. Pe Wheat prices broke in midsession under pressure of local selling on the Chicago Board of Trade. At the end of the first hour wheat was 1% to 3% cent lower, corn was 1% cent lower to % higher, and oats were unchanged. Export demand was extremely disappointing and much of the late selling was based on dismal foreign buying. There was talk that Russian offers are below ruling levels, Wheat receipts were 25 cars. Corn was relatively steady despite the recession in wheat. Volume of business, however, was only fair. Traders were inclined to draw out of the market to wait receipt of any news of a more marketworthy influence, Corn receipts were 366 cars.

ARGENTINE a BUENOS AIRES, Nov. 5 (U. futures Spend, irregularly Toer. December, $ Ya. off :

P.) ~ Grain Wheat-— ¢; February, SOT NOveRber, 64'%2¢, raLamuer, 64%c, unchanged. ac; up Yee. Flax—Novemof Ke; Trebruary, $1 27%, off

dio.

pot, ber, “Si 32%, Yao.

WAGON Wi WHEAT City grain elevators are paying for No. 2 red, 83c; other grades on their merits. Sash corn, new No. 2 yellow, 4lc, Oats, Ce

DAILY PRICE INDEX

NEW YORK, Nov. 5 (U. P.).—~Dun & Bradstreet's daily weighted price index of 30 basic commodities, compiled for United Press (19301932 average 100): Yesterday «.oevsseeneevenenes 121.12 WeeK ABO vvernsressnernssnes 123.76 Month 880 weveereenvessseees 128.30 Year ago areas 19220 1937 high (APIil 5) .veveeveess 158.26 1937 low (NOV. 3) .vvvnrennns. 121.03

CHICAGO PRODUCE

Lg gs—Market, firm; receipts, 4500 cases; fre graded firsts; ocarlots 24150; less than carlots, 24sec; rsts, carlots, 27%c; less than carlots, 27Vc; current receipts, 23c; checks, 17¢; dirties, Ry P steady, ; extras (92 score), 36c (90-9112 score), 39% GLBses ) 323¢; “seconds, 28@30%0; specials, 37c; standards, 34c; centralized (89 score), 323%c; centralized (88 score), 3134c. Poultry — Market, easy, receipts, 34 trucks; ducks, 18% @19'%c; geese, 17¢; hens, 17% @21%¢; spring chickens, ote. 22¢; roosters, 18@15c; broilers, 24@26¢c turkeys, 16@@22¢; leghorn hens, 15¢. Cheese—Twins, 19@19%c: Sistas, 19% @ 19%c¢; lohghorhs, 19% @19% Potatoes — Supplies, heavy: demand, fair; market, ara ake Russet Burbanks, $1.37% je: U. 8. No. 2, 1.30; Cas Red McClures, North Dakota Bliss Triumphs, : North Dakota Cobblers, $1.05; Minnesota Cobblers, $161.05; Minnesota Bliss Triumphs, [email protected], Minnesota Barly Ohios, $1.10; Wisconsin Bliss Triumphs, $1.10; Michigan Russet Rurals, $1.05, Arrivals’ 87; on track, 412; shipments, 549.

Reserve Board Margin Power Won By Treasury Insistence

By JOHN T. FLYNN Times Special Writer NEW YORK, Nov. 5 (U, P.)—Here's a little piece of history about the margin provisions of the Securities Exchange Act, little known, but now especially interesting because of recent developments. When the Securities Exchange Act was first drafted, the control of

margins was lodged with the Se- ®

curities Exchange Commission. That seemed to be the place for that function. The group of men who framed the first draft were pretty well agreed on that point. Later, however, this was changed. After the first act was drawn and, I believe, actually introduced, the Senate group which framed the act was told to confer with representatives of the Treasury. This order, I think, came from the President. And in obedience to this order conferences between representatives of the Treasury and representatives of the Senate Committee began. The Treasury was never too much of a friend of the act. Its representatives immediately began urging all sorts of mitigations of the act. One of these changes was a shift of authority over margins from the Securities Exchange Commission to the Federal Reserve Board. The man who acted for the Treasury in that case was the then assistant secretary, Mr. Tom K. Smith. This is of interest because last year Mr. Smith served as president of the American Bankers’ Association. And he was characteristic of many New Dealers who were around Washington in those days guiding the so-called, revolution. The whole argument turned upon this point. Mr. Smith and the sisted _ that the whole S & matter of

banking credit and that therefore it ought to be handled by the supreme banking authority. The Senate group insisted that it was only incidentally a matter of credit; that it was more essentially a matter of control of speculation and that the agency to handle it was the one charged with deciding on all the other controls over speculation.

At that time Governor Black, a very conservative Georgia banker, was head of the Federal Reserve Board. And the banking interests and Wall Street interests felt they would have a far more friendly set of men settling margin rates if the Reserve Board got the job. On the other hand, the Senate group urged that margin credit was not wholly a banking affair; that in the bull market of '28-'20 more than half the Street money came from nonbanking sources. They also insisted that the amount of margin money should not be based on the state of bank credit but on the state of speculation. But the Treasury group which had almost exclusive approach to the President's ear and confidence then prevailed. They said they would never, never give in on the margin clause, And they won. It is interesting to hear that the Reserve Board members do not like Sheik preset avin,

Net Last Change 101% 3% 40,

Mo-K ‘Tax Mo Pac pf Mont Ward .... Mueller Br .... Murray

- a

Nash-Kelv at Bis p

SEER FEFEFR

F441 T4444: ++

| &F

F++: eo

Ferrer EEE ¥

Oo Otis Steel .....

Pacific Ltg .... Packard Paramt Pict ..

bi +

Phillips Pet . 4 Pitts Term Coal Poor

J++1+1:

Radio Radio- K-Or Reo Mot . Republic Stl Reyn 8 rn Reyn Richfield Pott ve

St L-8 Pran ... Schenley Dist . Seab'd Air L Sears Roebuck. porvel a Sha wv. 8 Shell Eh of .. Simmons vo 3 Socony-Vacuum So Am Gold South Pac South Ry Square B 8td Brands pf. 104, C Tob Va

FAAS ase

Studebaker Sun Oil . BUkishine ‘Min Swift & Co

Boron Gould...

54 . 14 Y 17% 8% we Texas Corp .... 41% 34 ex Gulf Prod. x ‘G Sul .... TRPCRO es Thomp Star ... Timk- .

Transamerica .. Trans & Wms .

41% 4 20Va 8% 29, 13% 127% 8%

Union Carb ... J8 Un Oil Cal .... 20%

8 Un Rirapalt r 187% r Lines .. 9

57 Steel pt. "110% 110%% wa Ya. Vanadium .... 16 18 Van Raalte «.. 24'% 24%

Wabash ..oee.. Walgreen .... Walker hs Walworth = Ward Bak B . Warner Bros .. Warren Br -.... Wayne Pump West Auto Sup. West Union ... Wheel Steel .... 27 Wilson & Co .. Woolworth «..

19%

Yellow Tr .... Young Sheet. .

Zenith Rad ....

Curb Stocks

By United Press Nov, 8 (U, P.).

NEW YORK, = Curb stocks opened irregular,

Net Open Change 26 § By

By United Press BOND PRICE INDEXES

20 20 20 Inds. Rails Utils. Yesterday ..... 84.1 73.8 95.4 Week ago ..... 84.9 5.9 95.1 Month ago .... 87.8 82.9 968.7 Year ago 99.8 105.7 Two years ago. 90.3 "1 1023 1987 101.2 106.0 198% 2a ns 1936 100.4 106.2 1936 84.7 1035 1985 86.4 103.6 98.1 1935 v1.0 89.3 83.0 (Copyright, 1937, Standard Statistics Co.)

NEW YORK, Nov. § (U P.). opened irregular,

80 Bonds 84.4 85.3 80.1 99.5 90.6 100.7 82.3 100.2 93.3

== Bonds

ank of Manhattan ankers Trust Bank of New York Trust Brooklyn Trust Central Hanover Chase .... Chemical Commercial Continental

mpir “ First National Guaranty Irving Manufacturers National City VETER TYE en Suk BUA ren vera

Title Conmrantes i

RADIO CORPORATION DECLARES DIVIDEND

NEW YORK, Nov. § (U. P).— Radio Corp. of America today declared its first dividend in history on common stock, cleared up all arrears on preferred “B” stock, and reported its best earnings since 1929. Directors ordered a dividend of 20

cents a share on the common on which nothing has been paid in the 18 years of the company’s existence. The declaration came almost to the day of the 18th anniversary of the incorporation of Radio Corp. At the same time, the $31.25 a share back dividends owing on the preferred “B” stock since Oct. 1, 1931, was cleared up. In addition the regular dividend of 87% cents a share was declared on the Class A $3.50 first preferred stock. The common dividend is payable Dec. 21 to stockholders of record Nov. 12: the “B” stock dividend, Dec. 21, record Dec. 10, and the first preferred Dec. 21, record Dec. 3.

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

nation, went into action this month

FRIDAY,

NOV. 5, 1937 ,

Slum Scenes Wait Duke's Inspection

Scenes such as these are to be studied by the Duke of Windsor on his American tour to investigate Top photo shows a New York

housing conditoins. slum street. The man and women for fuel.

RETAIL BUYING GAINS IN WEEK

Wholesale Trade Unchanged From Preceding Period.

NEW YORK, Nov. 5 (U, P.).~=Promotions, featuring price reductions, gave impetus to consumer buying this week, but wholesale trade continued at a reduced level with release of Christmas commit= ments still retarded, the Dun & Bradstreet weekly trade review said today. Retail trade was reported 2 to 6 per cent \above the previous week and 4 to 15 per cent ahead of the corresponding 1936 week. Wholesale volume was unchanged from the preceding week, but 6 to 15 per cent above the 1936 period. Election Day promotions provided a stimulus to consumer purchasing in many cities, with special offer=ings of men’s wear bringing the most generous response this fall, the review said. Christmas shopping started, some stores deferring payment of charge accounts on such items until January. Buying improved in the New England states for the week, but the advance over a year ago shrank to 3 to 8 per cent. Although colder weather stimulated movement of winter merchandise in the East, the gain over last year was scaled to 2 to 12 per cent. A pickup in the Middle West lifted volume 5 to 18 per cent over 1936, while the margin in the Northwest widened to 8 to 18 per cent on more seasonable tem= peratures. The gain in the South was reduced to 8 to 16 per cent over a year ago, and that in the South= west to 10 to 18 per cent. Sales ebbed in the Pacific Coast region, the gain over last year being scaled to 2 to 5 per cent. The disposition of retailers to move merchandise already on hand and to defer forward buying restricted wholesale business. Cancellations were not numerous, but movement of textiles was further restricted. Christmas goods continued in the foreground, but many stores have not yet completed their stocks. Early opening of the Christmas shopping season gave further ime petus to the acquisition of gift lines,

MARKETS AT A GLANCE

Stocks higher; Homestake Mining at new high. Bonds irregular, Curb stocks higher. Chicago stocks higher. Call money 1 per cent, Foreign Exchange higher; sterling, Swiss franc, belga and German mark make new highs.

Cotton futures firm on gains EISrging: Wodh T5xoems

Grains in Chicago: Wheat off i% to x» i, cent; corm wp 1% to 14 cent. Rubber futures strengthened. Silver unchanged in New York at “uy cents a fine ounce,

EL.

HUNTERS DESCEND ON NORTH CAROLINA

RALEIGH, N. C, Nov. 8 (U. P) «Thousands of hunters, from North Carolina and many of the

as the state's game and bird season

are carting wood

NAR

a NAL AE

Na Ai NRA a dl 4

Inside of a “better type” slum dwelling are kitchens

such as shown in the lower picture. Tubs serve as tables during the week, and are used for their proper

purpose Saturday nights,

breath a possible last.

to breathe directly into the windpipe instead of through his nostrils. The patient is as much a mystery to physicians as he is to the police who brought him to the hospital. They know that his name is Mar= tin Hart, that he is 31 and a sign painter. But where he lives, whether he has relatives, how he happened to be at a street intersection—where he was found unconscious-=they do not know. Physicians know that he had a throat operation 11 years ago. But what it was for, why the hole has not closed, why Hart can’t get his breath, they do not know. Specialists at first believed the tube had slipped out of the throat and that this caused the. difficulty. They replaced the tube, but the breathing was little improved. Physicians found the upper part of the throat open, and decided tentatively that there was no reason why he must breathe through the air hose. One specialist believes the difficulty lies in the man’s brain, not the throat, that the part of the brain which controls respiration is not functioning.

ORDERS SLACKENED FOR MACHINE TOOLS

Decline in October Definite, Says Trade Authority.

Timer Special NEW YORK, Oct, 5—~Contrary to expectations, machinery and machine tool business registered a deffinite decline in October, according to American Machinist, a publica~ tion. The reason for the drop is not attributable to any one specific cause, but the stock market collapse, lack of confidence in the Administration and the future of business are regarded as the basis for most postponements and refusals to close. The situation, however, is not one of drastic imminence, as builders of machine tools have a large enough backlog of orders to keep plants occupied for the remainder of the year. The drop in orders also is traced to the material improvement in delivery dates, the publication states, Slow business in the Cleveland area has been the rule for the last two months, October registering slight gains over September. In Detroit the municipal election fight to keep the U. A. W. from winning a political significance has slowed equipment business.

LOST MEDAL OWNER FOUND BY PICTURE

STEUBENVILLE, O., O, Nov. 5 U, P.).~His picture, published during a National Labor Relations Board hearing of charges against the Weirton Steel Co., has been the means of returning to Edward G. Smith, board examiner, a gold medal he lost in 1900. The medal, awarded Smith by the Southern Oollegiate Oratorical Association at Nashville in 1802 and bearing his name, was returned by G. R. Gray of Pittsburgh, who said he found it on a train 37 years ago. Gray said he had been unable to

‘in & newspaper,

find Smith until he saw his picture

Under Patient 506's adam's apple is a hole into his windpipe. tube, tied to his neck by a cord, runs into his throat, breathing a short-cut, enables him ®—————

Wheezing Patient With Tube In Throat Puzzles Doctors

TOLEDO, Nov. 5 (U, P.) ~The rasp of labored breathing wheezed uncertainly from Patient 506 in Mercy Hospital today, each precious

A The tube gives his

CHANGES DRAFTED IN PANAMA CANAL TOLL

Million-Dollar Revenue Cut Expected by Revision.

WASHINGTON, Nov, 5 (U. P.) = New tegulations governing compus= tation of revised tolls in the Pane ama Canal will be issued within 10 days, the Panama Canal Commis« sion announced today. The charges, revised by the last sesion of Congress, become effective next March 1. Several steamship companies are seeking permission from the U. 8, Maritime Commission to change their routes to avoid canal passage, contending the new tolls will cut into their operating revenues. The Canal Commission estimated only three lines would be forced to pay higher tolls under revised charges. It estimated the annual in« crease for the Grace line at $157 973; the Panama Pacific line at $25,871, and the Luckenbach line at $21,425.

‘LOCKOUT’ FORCED CONVICTS’ RETURN

CANON CITY, Col, Nov. 5 (U, P.) Rome was never like the Colorado Penitentiary of a half a century ago, Warden Roy Best, present head of the State Penis tentiary, revealed when he unearthed a 60-year-old order regards= ing conduct of inmates, At that time, a vear before Cole orado was admitted to the Union, the territorial prison had but one building and no outside wall, Ine mates were released for work in the morning and were expected to show up in the evening, The regulation, yellowed with age, reads: “Those convicts who are not back by 9 p. m. will be locked out for the night.”

1870 SCHOOLMATES REUNITED IN TEXAS

' AMARILLO, Tex., Nov. 5 (U. P), Elbert and Elbert, schoolmates, met in Amarillo after being sepa= rated 67 years. Elbert, the elder, was the Rev. E. H Sawyer, 94, of Minto, Okla. Elbert, the junior, was Dr. J. E. Nunn, 868, of Amarillo. They went to school at La Grange College, La Grange, Mo.

HUNGARIANS STAGE RAILROAD SIT-DOWN

TAPOLCA, Hungary, Nov. 5 (U. P.).—A group of peasants staged a “sit-down” strike on a railway track here. Protesting against the high price of whetstones to sharpen their scythes, they sat down between the rails and delayed traffic for more than half an hour.

Sr m— — nS

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