Indianapolis Times, Indianapolis, Marion County, 6 November 1937 — Page 7

SATURDAY, NOV. 6, 1937

STOCK PRICES DROP ONE TO SIX POINTS =

IN LIGHT

Industrial Averages,

Drop Lowest in wo Years.

NEW YORK, Nov. 6 (U. points in light trading today, rounding out a week of almost continuous recession that bronght the industrial

average to around the lowest

levels in two years.

Bonds declined. Wheat lost more than 2 cents a bushel. eased. Cotton futures were easier. Sugar firmed. Santos coffee futures made record lows, Stocks started dull with prices 1rregular and then turned Steels led the decline. easier, partments. had widest losses made new lows for the longer. There was nothing in the news (0 | affect the market. The recession | was ascribed to conditions within the market itself and lack of any incentive to boost market values.

Highest priced issues | Several

year

DOW-JONES STOCK AVERAGES | 3s;

INDUSTRIALS 125.25 128.92

30 Today —3.6% Yesterday Week ago .... Month ago Year ago High, 1937, High, 1936,

—H.10 +17 194.40; low, 125.73, 184.90; low, 143.11, 20 RAILROADS 31.6% 32.56 . 34.63 39

Yesterday © Week ag0 ...oes Month age Year ago High, 1937, High, 1936,

64.16; low, 30.09, 59.89; low, 40.66. 20 UTILITIES 21.21 21.65— . 22.83

—0. 11 0.09 —4). 10 4-018 0.38

Yesterday Week ago Month ago Year ago .. High, 1937, High, 1936,

37.54; low. 36.08; low, * 70 STOCKS 42,13 13.30 . 36.22

-—1.1% 0.13 —0.11 | 0.05

Yesterday Week ago Month age Year High, High.

193%, 69.67; _1936, 66.38;

Week's Business At a Glance

ADVERTISING—Advertising Age: | Week Oct, 23, retail advertising placed in newspapers of 80 major cities 23,814,265 lines vs. 25,492 693 | previous week and 24,024,167 year ago; year to date 852,319,900 vs. 816,427,401 year ago. AUTOMOBILES — Ward's Automotive Reports: Production this week 89.770 units vs. 90,155 last week and 84,780 vear ago. BANKING—Federal Reserve: Gold stock up $3,000,000 to record high at | $12,804,000,000; excess reserves $1,050,000,000, off $20,000,000; brokers | and dealers loans off $47,000,000 to! lowest, since April 10, 1935, at $732,- | 000,000; circulation up $46,000,000; ratio 80.3 per cent vs. 80.2 last week | and 80.1 year ago. Dun & Brad- | street: Week ended Nov. 3, bank | clearings $5,311,305,000 vs. $5.846,- | 201,000 previous week and $5,295,277, - | 00C year ago. CONSTRUCTION — Engineering News-Record: Awards this week $22, - 427.000 vs. $62,866,000 last week and $30,071,000 year ago; Oct. awards $189,801,000 vs. $210,511,000 in Sept. and $220,142,000 year ago. ELECTRICITY — Edison Electric | Institute: Week Oct. 30, output 2,-| 954,947,000 kwh vs. 2.281,636,000 pre- |

vious week and 2,166,656,000 year | X

ago FATLURES—Dun & Bradstreet: | Week ended Oct. 28, 178 vs. 191 pre- | vious week and 149 year ago. | INDEXES — Dun & Bradstreet: Week ended Nov. 3, business activity 83.6 per cent of estimated normal, fifth successive decline and low | since June 3, 1936, vs. 85.3 previous | week and 93.6 year ago; Food index up 2 cents to $2.76 vs. $2.78 year ago. Moody's: Week Oct. 30, business ac- | tivity 91.6 per cent of 1928 average, | low since May 23, 1936, vs. 92.4 pre- | vious week and 102.6 year ago. LUMBER—National Lumber Man- | ufacturers Assn.: Week Oct. 23, pro- | § duction by 544 mills 236.430,000 feet | vs, 239,587,000 feet by 580 mills pre- | vious week; shipments, 199,514,000 | vs, 222,878,000;. booked orders 171,- | 356.000 vs. 189.659.000. METALS—American Bureau of Metal Statistics: U. S. third quarter average monthly copper consumption, 33,967 short tons vs. 43,633 second quarter and 31,167 year ago, monthly average outside U. S. 130,900 vs. 143,700 and 100,500; first 9 months world gold output 22,171,000 fine ounces, excluding Russia, Vs. 20,640,000 year ago. STEEL—American Iron & Steel Institute: Production this week scheduled at 48.6 per cent of capacity, low since Dec. 30, 1935, vs. 52.1 last week and 74.7 year ago. United Press estimate: Steel ingot output this week 639,000 gross tons vs. 685,000 last week and 988,000 year ago. TRADE—Dun & Bradstreet: Retail this week 2 to 6 per cent over last week and 4 to 15 per cent over year ago; wholesale 6 to 15 per cent over year ago. (Copyright, 1937, by United Press)

CHICAGO PRODUCE

CHICAGO, Nov. 8 (U. P.)—Eggs—Market rm. Receipts, 2562 cases. Fresh raded firsts, carlots, 28'%ec; less than carots, 28'sc: extra firsts, carlots, 29%¢; less than carlots, 29'.¢; current receipts, 26%ec: checks, 17c¢; storage checks, 17¢; dirties, 19¢; fresh dirties, 22c¢c; storage dirties, 10¢: fresh checks, 19¢: refrigeraior extras, 2034c; refrigerator firsts, 20c¢c; refrigerator standards, 20%ec. Butter—Market steady. Receipts, 8116 tubs. Extras (92 score), J6¢; extra firsts (90-91 score), 33% @35¢; firsts, 31% @3234¢; seconds, 28%@30'%c¢; specials, 38% @37c; standards, 34c; centralized Scoreh 323c: centralized (88 score), Poultry—Market easy. $ n iruecks, ucks, 16'2@19'%ec; geese, : hens, 17@2lc:; spring chickens, 20@21%e; roosters. 14@15c; broilers, 24@26¢; turkevs, 16@22c; Leghorn hens, 15c. Cheese—Twins, 19@19'%c¢: daisies, 194 @ 19'%¢; longhorns, 19'i@13'%:¢ Potatoes—Supplies heavy. Demand slow. weak, Jaane Russet Burbanks, $1.306 1.50: $1.15@ 1,1% Colorado Red McGlures. $1.406 1.55; North Dakota Bliss Triumphs. 5. 05611,10; North Dakota Cobblers, $1.07'%2; North Dakota Bliss Triumphs, 31.25; Minnesota Cobblers. 90¢; Minnesota Suis, Tri

| Month age

| Two | 198%

Other grains | | ChiMStp& P5s2000

| Nor Pac 6s 2047 lower, | Rails were | Selling spread to all de-

issues | of

| Can Pac deb 4s s perp 3

[Ch M SUP & P Ss 2000.

| Int T

| Lorillard

| Mo Pac

| Nor

| Penn

| Stan*Oil N J 3s 61

Swipht, Nose: ‘Minnesota a hig. $1:

iad wT

EE Tp i oa

DEALINGS

| N.Y. Bonds

| By United Press BOND PRICE INDEXES 20 20 20 Inds. Rails Utils. +. 335 =.1 95.4 . 83.9 wy 95.4 85.0 5.9 95.2 . 87.6 82.6 96.3 "vie 93.6 99.6 105.8 950.8 9.4 102.4 . 95.0 101.2 106.0 82.5 2.1 92.8 LR 100.4 106.2 950.0 84.7 108.5 91.14 86.4 103.6 . 33.6 LO 89.3 1037, Standard

60 Bonds 83.5 84.1 85.1 R88 99.5

| Today | Yesterday Week ago Year ago Years ago high low high low

100.5% 2.3 100.2

198% 1936 1938 1935 high 1935 low . R3.0 (Copyright, 10 MOST ACTIVE BONDS Net Close Change Ago Chi M Stp&P5s’i5 10 Th 137% 2% 3% 1% S's 105% 113% 120 By 1% 1 831% 102 118 PhelpsDge3tes '52 99% Stl S Fran 5s '50. 13% ChiNor W 43%s "19 7 | Penn RR 3%s '52 90%

| CinGas&El 3%s '66 102

Grt Nor 4s G Seahoard 6s

16 15.

Bond transactions approximated

$5,350,000 compared with $4,141,000 3

last saturday.

S. GOVERNMENT BONDS Treasury Bonds High

Low Close 1943-42 Mar 3 6.19 41

0.08 | § —0.81 |

19 bob: 1959-28 Federal Farm Mortgage Bonds 10331

01.18 103.2

Bonds J 100.17 102.17 102.17 DOMESTIC BONDS

Alleg Corp 5s 44 vers N82 Am & For P 5s 2030 ... Am Wat Wk 6s 75 Anaconda C 4's 50 Arm Co Del 4s 55 ..... 93° At TSP cv 4'us 48 ... At TSF gen 4s 95 Atl Coast L 4'as 64 B & O ref 6s C 95 . B & O ref 5s D 2000 B & O 4:5 60 Beth Stl 4'as 60 Bu R & P 4'us 57

LL 45, .. 40 102

Cent,_Ill El 5s “oi

90.8 |

93.3 | 93.1 |

Month Year | Ago |

THE INDIANAPOLIS TIMES

PAGE 7

37 51 10's 3,

ais +

Am Ci A Ohh In&C ot. Am Color. ... m Com Alc An Enc H Am F P Am&F Pwrss "ot Am&F PwrS7 pf 2 AMEE Pwrs$2 pf 2 Am-Haw - 11 | Hide & L

| |

Statistics Co.) |

R Roll Mill R M cv Safe Razor Seating melt _ . Smelt 7 pf Stl Fdies stores Sugar . . pagar 1 nt. T&

Woolen pf Zinc wil m Zinc pr pf Anaconda . Anac W&:Cable Anchor Cap .. Anges Cop rch-D-M Arun Ii . Armstrong ck. . Arnold Const Artloom Asso Dry "Goods Atchison : Atchison pf

Atl SeRning Atlas Corp | Atlas Pwr pf Auburn Auto ! Aviation Corp .

Bald Loco ct wi Balt & Ohio | Balt & O pf ... | Barber Co .... | Barker Bros ... | Parnsdall

Borg-Warner

| Botany A

Bdgept Brass Briggs Mfg Bkiyn-M T Bklyn & Q Tr

! Bklyn U Gas

Bruns-Balke

| Bueyrus- E. "

Budd Mf Budd Whi

| Bullard | Bulova W

Chi “ Chi In You gn 6s bs. hi In Lou gn 5s 66 ... C M St P gen 4s 89

cal N W 4%s 4 hilds Co 5s 43 Rare St L 4's Clev U Ter 41.5 Col ok, 4'.s 80 Col G & E 5s 61 cons oil 3los 51... Cons Edis 3'2s 56 Cons Con G Consu Pw . Del & H ref 4s 43 “ Den Rio G W 5s 55 "eh Det Edi 4s 65 .. Erie ref 5s 75 Erie ref 5s 67 Gen M Ac 3'ss 51 Gen M Ac 3s 46 . Gen Stl Cas 5'2s 49

| Goodrich 6s 45

Goody T & R Bs 57 “ Gt North 4l'zs EB 77 Gt Nor 4s G 46 .. Gt Nor 4s H 46 Ill Cen = 51

[ Int Hy El 6s 44

Int T & T 58 55 Int T & T 4's 52 . & T ev 4%s 39 . Jns & Lgh 4'4is 61 Kresge Fou 4s 45 Leh VRR 4s 2003 Loews Inc 3'2s 48 P 5s 51 Lou Ark Ry 55 69 .... Lou & Nash 4s 40 .. Lou & N 3%as 2003 McCrory S 5s '51 McK & F 5'as '50 MSPSSM c¢n 4s Mo K & T 1st Mo Pac cv 5's 5s 1 '81 Pac 5s PF ii Pow 1S ‘66 Nat D P 3%s Nat Steel 4s Nw Eng T Y ‘Cent Y Cent Y Cent Y ©

y © Vos YN H H cv 6s '48 YNH&XHZYY.,s' Y Tel 4'os '39

Mo Mont

8 33

| Pac Gas & El 4s 64 ....

No Pac 6s B 2047 Pacif 3s 2 Pein Co 4s 63 Pa P&L 4'us 81 R R 3%s 70 .e Penn R R gn 4's 65 .. Penn R R 4%s D81 ...10 Penn R R 4'2s 84 Pere Marq 5s A 56 .... Phil Rd Coal 6s 49 .... Port GE 4',s 60 Postal T & C 55 53 Reading 4'>s A 97 .. Seab Air Lin 6s 45 ..... Shell Un o Ny 51 Soc Vac 3! 50 So Pacific a s 81 So Pacif col 4s 49 . 73 7 Sou Rwy 6'2s 56 . 66 So Rwy 6s A 56 : 5 iH | Sou Ry gen 4s 56 a8" 8

Studbk 6s 45 Texas Cor 3'os 51 Tex & Pac 5s B 77 Pac 1st 4s 47

| Un United Drug 5s 53

U 8S Rubber 5s 47 Vanadium 5s 41 .. Va Ry Co 33s 66 . Wabash bd'os A 75 Wabash 5s D 80 Warner Bro fs 39 West Union 5s 60 Young S & T 4s 61

FOREIGN BONDS

Akershus 5s 63 Argent 4'cs Tl Lustralia 5s 55 Brazil 6'2s 26-27 Canada 4s 60 Canada 3%s 61 Canada 2'2s 45 Cuba 572s 45 German Ts Italy Ts 51 Japan 6!4s 54 Japan 5s 65 Norway 6s 43 Peru 8s Yu

BANK STOCKS

Bid Asked 22, 24

Chase Chemical City Commercini RN Continental ... Born: Exchange

SHA "Nati Bank NY Guaranty Irving Manytacourers NYT Public ‘ Title Guar & T

LOCAL PRODUCE

(The prices quoted are for stock gathered in the country, while for deliveries i Indianapolis the prices are 1 cent higher. Each case of egrs must weigh 55 pounds gross.) Eggs—No. 1 strictly fresh, loss off, 24e¢, Heavy Breed Hens-——4'2 pounds and over, 18¢; under 4'> pounds, 17e: heavy springers, 1'% pounds and over 18c; Leghorn springers, 1'. pounds and over, 15¢: bareback broilers, 14c¢c; old roosters, 9c: voung ducks, 4 pounds snd over, 12¢; old ducks, 8c; geese, 9 to 14 pounds 9c; turkeys. Tuk mens, 8 pounds and over, 19¢; voung Lypounts and over, 18¢; No. 1 Cc

ne Bie i BR

Butte Cop

2 | Com

ho Be

Burlington M Burroughs .

| Bush Term | Butler Bros

Butler Bros bd

Cal Packing Callahan Zine Calumet & H .. Gap cll, Wy .. Canada Dry ... Can Pac Cannon Mills

2! Caterpillar T .

Celanese Celotex ‘er Cent Aguirre Cent Foundry Cent Viol Sug

| Cerro de Pasco

Certain-teed

Chi Pn Tl cv pf {Chi RI & P § pl Chickasha C hilds

Col Fuel & Iron Coium Gas Col i

| Col

Com

Solvents... Comm & So Conde Nast | Cong-Nairn Cong Cigar . Cons Aircraft. . Cons Edison .. Cons Film pf.. Cons Laund ... Cons Oil . Cons Coal vic. . Container “el Cont Bak A ... Cont Bak B... | Cont Can vel F.... i

| Com

pd pd BS bt a DD CAINS RVOEABUL ORI

Cont-Dia Cont Ins Cont Mot Oil Pr

Cne Co ¢v pf... Crosley Rad .. ! Crown Cork.... Crown Zeller

a a | Crucible St

Crucible bof

+ | Cub-Am sug. ..

Cudahy “ay | Curtis Pub .... | Curtiss-Wr .... Curtiss-Wr A Cutler-Ham

| | Deore & Co

, | Dixie- Vortex

Doehler D Cast. Dome Mines Douglas Air Dow Chem Dunhill 3 Du Pont 115% a East Kodak og 156%

Elk-H Coal 2 Rl Pat Nat "Gas ns . 39 Bouit Bide Erie ..

Exchange But

fab or "aa ardo Sug Po Mov 8 oo Fed Sorch aN Fed Wat S A 2% Fed Dep St cvpt Fid P! 2 RL 0® Firestone pf kh Folla Da Food

Foster Wheel “ Francisco Sug .. Freept-Sulphur.

abriel A Robt Robt pf Wood Ind Am I “

14% 2 16 8% 201, 30% 87a

15's 17Ve 207% 46% 31 801%

3 115%

Prev, Low Glose Chiahie

= ah

FEE

FHT

! '

1 '

FEF

FEEEF FEY

| FERRE. +

FLEE FEE

“FEFRERRIIC]

FPF¥I

CHIT]

RTA RR

3 Sa Ade es

FEE EE a

LIE EILEITTL:

SOE:

ih 5

| Transactions approximated |

5 | Par Pict

| Houston Oil

16 MOST ACTIVE STOCKS Net Low 53 T% o

Righ US Steel ...... Bd¥% Radio Corp Am ¥ Graham Paige . 2% Chrysler | Gen Motors Rep Steel | Anaconda Cop Elec Pwr&Lt | Kennecott Cop

58 Kh 20% BY % 3% 1% 25 11% 2M, 18% 12% IR, 5% 45% 36% 3%

688% Re 15 25 11 We 183% LEARN IR% bs 45% 36% 36%

20%

. |

. 39%

N6.- | 590 shares compared with 710,000 shares last Saturday.

Close Change | Pacific Mills ¢ Wg 5% | Packa “ BY

3 aramt Pict a | Bara ict 1 1% | iB

— Re lee

FINAL NEW YORK STOCK QUOTATIONS

By United Press

High 88 15% 14

Pacific Ltg west ofl ;

55 1% 40's 14% of. 101% 12! Ih

335% 21'%

A | HH) . araffine Co ...

bark Ry ah

| 4 Penney . 781% 1% | penn Coal & C. enn Cem % | Penn Ru sand

R n | Deane Gas

| Pere oar gute Pet Cor DRaDs o Oe bt

— a Ehiln Rent C1

rris bhillips “Pet “ Pillsbury Pitts Sc & B

Curb trans- | Pitts St

Pitts United

actions approximated 166,000 shares | Biymouth Of | compared with 128,000 shares last [vor B oe | Saturday.

Prev, { Close ong Gimbel Bros .. | Gimbel pf .. - Glidden | Glidden rts | Gobel, Adolf Goebel Brew | Goodrich | Goodyear “a Gotham Hos SGERnMm- Paige Gran Sr ani C Stl Grant W T Gt Nor Gt Nor Gt West Sug Green H L Greyhound Cp Suan! 8 Gu M o pt

| Harb-Walk Hat Corp Haves Bdy Hazel At Gl Hecker Prod Mot Pdr Hollandr & Holly Sug Homestake Houd-Her Houd-Her

nas: 130 Son 12'% TIRE i) vo D1 . 2D ' 12%

A B

Howe Sound .. Hudson Motor Hupp Motor

Ill Central Ingersoll Inland Stl... .. Inspirath Cop . | Insshs cts Md Inter x Interchem Inter Rub Inter Iron Int Agric Ag pr pf Business M Harvester

Int 4 TREE RAN Intst OD S......

Johns-Man

s | Kalamzoo Stove

1 ones JL

8 . .

»y RT

o | McCrory

| McLelian

WoW

| Kan C Sou Kaufman DS | Kennecott .... | Kimberly C .... 2 Kinnev Kresge SS

Kroger G & B.

| Link Belt | Lia Carb Loew's | Ean Star

| Lorillard va Lou & Nash | Ludlum Stl

| May D

McCrory pf. . McGraw El McGraw H | McIntyre Pore.

| Nash-Kely N

bt. St... Distillers .. SypSuth "a ad 25 Mal & St1 C n Pwr & Lt .

| Nat re prpf 26 | Newport Ind Ih | 3

Y Air Brk SL

15% . Yo 361 23

- » Norf & West No Amer No Am Avn | No Pacific

hio

: oi bl wens Tl Glass Bere

Pac Am Fish .. 113% “ Pac G & Bl ... 25% 25%

LOCAL ISSUES

(By Indianapolis Bond & Share Corn.) The tollowing quotations do not represent actual bid indicate the approximate market based on buying and selling recent transactions.

BONDS

Citz hd Tel (TH) 4's 6... H Tel & Tel Ft W 5's 5. wo H Tel & Tel Ft W 6s 43 Ind Asso Tel 3% 8 .

level inquiries or

W 5s 38 mour Water Co 5 "a Trac & L 5s 44 I H Water Works 5s 56 T H Water Works Bs 49 Trac Term Co 5s 57

Belt RR St

«Belt RR

“18% 52

171% 138% | 105

Cent Ind Pwr 7 pid Home T&T Ft Hook Dru | Ind & Mic Ind Gen Serv Co va Ind Hydro Elec Ts ptd vale Tndpls Gas Co com | Inapls Pwr & Lt p Ya | Indpls Pwr & Lt nfd Sen Su BB | ITndols Water Co pfd 102 Lincoln N? al Life ns & com

« 31 N Ind ub | Sore co bia 5%s. . N Ind Pub Serv 8s N Ind Pub Serv

Ask | 100

. | Reading . Reliable-Stores 1

| Reo Mot

| Brox Stl Car

Oil 13 | PureOB cu cv én Lh | Purity Bak .

Quaker St Ofl .

RCA Radi Radio pf Radio-K-Or Ravhestos .

Ra TRCO | RemRem- Rnd bt ww

OY ed 1D Ba ww pt Sa ro

™

Republic Si Republic St! | RopublicStInt Revere Con ..

~330 WWD

Be JOO I TW DW TID

dt SEIN OS on =

Riontier Poi 2

| St Jos Lead ... 32% St nd Touh wh 18

| Sava

. Snider

; | Spiegel

'8 | Std

: | Bonentey Dist 1 R “5

S Seah'd Oil

2 | Sears Roebuck

| Servel Inc | Sharon 8 H Sharon S H pf Sharp & D Sharp & D pf . © Shattuck 5 Shell Un Oil | Silver-King | Simmons | Simmons Pet Skelly Oil Smith A O | Smith-Cor-T cts Pkg Soecony-Vacuum So Am Gold So Cal Ed | South Pac South Ry ...... South Ry pf | Spalding Sparks With Sperry-Corp Inc Square-D-B .. Brands .. GE .... G & E pf G & E 6 pi G&ETpt O Cal Std Oil Ind Std Oil N J Sterl Prod Stew-Way . Stone & Web . Studebaker . Sunshine Min .. Superhtr Superior Oil Superior Stl Swift & Co Swift Intl Syming-Gould Syming-G xw

Std

| Std Std Std Std

Tenn Corp | Texas Corp Texas GG Prod Tex G Sul TPC & O Tex Pac. T The Fair Thermoid Third Av Ry Thompson J R Thompson Pr Thomp Star Thomp Star pf Tide W A Oil T W_ A Oil Timk-D Ax Timken R B Transamerica

- ~ aw ~

—

30k ek LILI NDI TINE BP TD ms 1

| Trans & W Air

| 20th Cent-Fox

Und EN | Un B &

Trans & Wms Traux Tra

28%

20th Cent- x pf Twin Cy T Twin Cone

Fish 647% P

| Un Carb : i

| Can | Carrier | Centrif Pipe

Curb Stocks

By High Low Aero Sup B 23 5 Ala Pow 6 pf Alum Co Am Am Airlines 1 Am Box Bd 1 Am Cyan B 23 Am General ‘ Ma: ‘acaibo

1 ‘a Ta

Barium Stl Berkev Gay Brown Co pf Marconi Corp

Serv

Cities veas & G

Col O

| Con Cop Mns ..

| Eagle Picher IL.

| Equity

| Fisk Rubber “ y

McW Dredge .. Mich Bumper.. Molybdenum Nat Rub M

| Niag H Pwr

| &f

Pantepec Pitts Pl Gl

Regis | Segal Lock Sherwin-W std Oil Ky Std Oil Ohio | Sunray Oil Technicolor { Tila Roof Un Gas @ pf | Un Lt & Wright Harg

BI 20 . BE RS CE

Chicago Stocks

High Adams Mfg 10 Adams Royalty Allied Lab Inc Armour & Co .. Bastian-Bless Bendix Aviat Bliss & Laugh Borg Warner Brown F&W

| Burd Piston R

ids or offerings but merely |

| |

| Chg Cities

Butler Bros inlden Mig Cent Ill P ot Cent & SW Chain eh Chgo

Flex Towel Xel Ca Service . Comwlith Edison Cord Corp Gunningham Drug

Elgin Watch Fitz Sim & C'nll

Gen Financ Gen Hshld Ut

Il N Util fg > Jarvis W Kingsbury Br oath C

Trane Utah R Viking ahl

Fess aRsene

weve 81

-_a

4 -

62% 11%

United Press

>»

SEE FE IE

Prov. Close Change

BI Ee as had 4 a of a »

Oa NOD w-

P= NAPA eI

lo 2

S 3 HAIN DAN ER WD DW,

Low 10

AWN a aaW

Ne Clo®e Change 25%

MARKETS AT A GLANCE

Stocks lower in light trading. Bonds lower and quiet. Curb stocks lower and quiet, Chicago stocks lower. Foreign exchange strong; sterling makes new high. Cotton futures ease about 25 cents a bale.

Grains in Chicago. Wheat off 214 to 2% cents; corn off to 4 cent, Liverpool—Hogs, steady.

Rubber futures lower, . Silver off 1-16 penny at 19% pence a fine ounce in London. Coffee futures break to lowest Tevels in history.

cattle, sheep

Net Low Close Change 10% DY == 1h 91'% A Toa 22

Hirh of Sr 20 0. Tank Aircraft Air Lines Carbon United Corp United Cp pf

United Fruit | Un Gas Tmp . on Paperbd

» | market

FOREIGN NEWS | SENDS WHEAT DOWN SHARPLY

| Golden Cereal Futures Dip More Than 2 Cents In Chicago.

U. P=] knocked the |

| CHICAGO, Nov. § [Sharply lower cables [bottom out of the wheat market on {the Chicago Board of Trade today (and prices slumped heavily to fur- | [ther new lows for the season. At the close wheat was 2% to 27% cents lower, December 85 cents; corn was 4 to % cent lower, De= | cember 5515 ‘cents, and oats were 5 [t6o 5% cent lower, December 29% | cents, Losses ranged to over 1 cent atl | the ‘opening, but increased rapidly to more than 8 and 4 cents as sup=[port was slow to appear. Some short covering attributed to local rms and commission houses with Pastern connections revived buyine power partially and enabled the to stage a fair rally from the low point. Liverpool was weak, closing 2 [to 314 cents lower in the face cf [active selling by houses with Aus= | | tralian connections. General hiqui-

+ [dation ensued when stop-loss orders

B U 8 Steel ot | Un Stores A | Uniy Leaf T P&L

| Vadsco Sales | Vanadium Van Raalte

| Viek Chem

| December

| Debits tor

Va-Caro Ch Va-Car 6 pf

| Walker (H) | Walworth Ward Bak A | Ward Bak B Ward Bak nf {| Warner Bros .. | Warren Br

| Waukesha

| West Auto Sup West Md | West Md 2 pf West Pac nf West Union West Air Bke Westing Fl Weston El A Westvaco | Wheel Steel White SS Dent White Mot White Sw M nf Willvs Overind Wilson & Co Woolworth Worthington

Worth cv pr pf 51%

Yale & T Yellow Th Yng Sheet

Zenith Rad

COMMODITY

COTTON New York

December January March May July | October

December January March May

a | July

October NEW

| December | January

March

CHICAGO BUTTER

High Low Close 33% 33 3

CHICAGO EGGS Prev

High Low Close Close November 20 20 20 2014

1 NN N ~ 1 U. ST ATEMENT WASHINGTON, Nov, 6 (U. P.) Government erpenses and receipts for the current fiscal year, through Nov. 4, compared with a vear ago This Yea Last Year $2, Fh 803,222.88 $2 434 338 039.48 2,051,366,470 44 1,451 723 464.75 627,436,752 44 982,615 474 93 2,671,957,168.46 1 688,610,655.97 870,308 456.02 1.215054 847.76 37,010,327,131.72 33.813.658,501 85 12,803,839,743.72 11,057,571,159 88 156.274.150.086 118 013,001.65 Today's Pur otal Pur. 93,606.07 $1, 270. 305, 383.89

INDY abides IS CLEARING Clearings . Debits Clearings

November 331,

Expenses Receipts Deficit Cash bal Work. bal Pub. debt Gold res, Customs Inaec, gold HOUSE $ 3.333.000 7,370,000 19,767,000 47.311 000 |

for week. : Week

PRICES

b December,

P Close |

| were uncovered on the way down, The rise in sterling and the de(cline in the dollar exerted a strong bearish influence on the Bripish market and were expected to have | the opposite effect in Chicago, ac[cording to Broomhall. He said talk of a higher dollar price for gold in [the United States was entirely igored.

CHICAGO GRAIN RANGE is

Wheat— oc s

May July

BEG 58 | 50%

30'% 207% | 28774

Sovheanx—

Dec Mav Lard— Nov. Dec. 1 Jan 9.45 (a)Ask., (bh) Bid CASH Sample grade

2'4¢, No.

red 4 red

KN B3 ac

No. 4 mixed No. 2 yellow rhe’ sc No, 4 vellow 465%

sample No. 5

Wheat grade hard mixed, 74'uc Corn—No. 3 mixed 50'4c: No. 5 mixed, 48'uc 553456¢; No. 3 vellow, 53! yellow, 50'5@52'%c, No. 5 49¢: No. 2 white, 57¢: No. 3 white, 54'a5 55¢: No. 4 white, 53¢c; No, 5 white, 48% @ 5014¢c; sample grade, 38 48¢ Oats—No, 3 mixed, 31%c: 393,c: No. 2 white, 32@82Vc; 31'4¢: No. 4 white, 31¢;, sample grade Rye—Unquoted. Barley Feed, 41@62¢c: malting, 807 0lc Sov Beans—No, 2 yellow, 82@c, No. 3 vellow, 026 025L¢ Timothy Beed £22572 85 Olover—Red, $%$27.50632.50, 7.75. Cash Provisions loose, $10.30 ask: leaf, lies, $14.25 nominal

WINNIPEG WHEAT

5315¢;

No. 1 white No. 3 white 3le.

sweet, sa | Lard, %0.50 nominal $10.25 nominal, bel-

Low

1.05 SPRL Yomek Prev

Eh Low Cloze Close | $1.21': 81.21% 81.24% . Sn 1.08% 1.16% 1.10% 1.16% 1.15 1.15 1.18%

ARGENTINE GRAIN BUENOS AIRES, Nov. 6 (U. P.).—Grain futures closed irregularly lower. Wheat December, $1.07, off 1'c; February, 99'ze¢, off 1'ue Corn—-November, 65¢, up '4¢; 63340, off Yc Oats—8pot, 34¢. Plax November 81.31% February, $1.25'%, off 1'%e,

1.02%

| 2980, off oft 1%e,

LOCAL GRAIN

CASH Market, weak No. 2 red, 83@ Bic, No. 2 hard, 82w83¢c Market. weak; receipts. 5 No. 4 white, 42':md44'.¢e white, 39'>@41'2¢c, No. 4 yellow No. 5 vellow, 30@ dle; No. 4 mixed No. 5 mixed 37@3 { Oats loads white,

Wheat Bar 85¢ 8384c;

no receipts;

No No. 1 carNo. 51 42% 4c 407 42¢

10 earN :

NO,

) receipts No. 2 28',m29'4¢,

27%, @ 28150.

WAGON | City grain elevators { 2 red, 8c; other grades | Cash corn, new No. 2

FOOD PRICES

- - CHICAGO, Novy. 8 (U. P.) Apples, Mec- | Intosh, $1.15@ 1.35. Sweet Potatoes—Ten- | Nessee, bu. hampers, 75@ 85¢ Carrots | Mlinois, bu, 25@40c, Spinach—Ilinois, { hu, 35@75¢c. Tomatoes California, lugs, | $1@2. Cauliflower Oregon, crates, $1.25 | |

WHEAT are paying for No on their merits vellow, 4l¢, Oats,

| top fat lambs,

as—QCalifornia, hampers, [email protected], CelMichigan, square crates 40% T5¢. | (50-1b. sacks) Minnesota, yellows, m1 12%; 1 Idaho, Valencias 80¢c.

Pea ery | onions $1.07

U. S. Repeats Mistakes Made In 1929 Ditticulty, Flynn Says

By JOHN

Times Special Writer

6.— President Roosevelt said some time ago that the depression had taken us all to school,

WASHINGTON. Nov,

T. FLYNN

Tt would be a shocking waste

.| of a good depression if we learned nothing in that school,

| odor,

| people who have

“| the great economic

In 1929 certain very plain warn-# con- |

ings were set. But it was sidered a breach of good manners | and certainly of good business to | see them. These who persisted in pointing to them were in pretty bad Then when the storm burst | it was the fashion to pretend that nothing had happened. In business circles men said two things. One | was that the crash was a good thing —a wholesome adjustment. The | other was that it was all due to the wicked politicians in Washington who were supposed to be interfering in business. If you will run pack over your memories of those oppres=sive years vou will see how long a time it took up to open our eyes, | talk frankly to ourselves and deal with reality. Now certain warnings appear

again. And we proceed to behave just about as we did in 1929. It does not speak well for our schoolin a in 1920 and later in the succeeding three years demands are being frantically made for all sorts of reforms. Most of them are reforms that special groups are in=terested in. And the current decline gives them an opportunity to clamor for their pet law change. And as usual, ordinary business | plenty to do | wrestling with their own individual | | problems and have no time to study forces which | operate all around them, assume that the stock brokers in Wall] | Street know all about these economic disturbances. Therefore they adopt with readiness whatever adjustments the Stock Exchange and the Wall Street financial groups demand.

| spired by a consideration of the spe= | cial troubles of these small groups. | Tn short they accept the leader ship |

of Wall Street as the leadership of business. | This has resulted at this time in a broad, determined drive by busi= | nessmen of all types for certain re=- | rorms which Wall Street is interest | ed in. There are businessmen who do not accept this leadership, but | they are small in number and far | from articulate. It is perfectly c¢bvious now that | an intelligent people which has just | passed through eight ears of de- | structive depression ought Mot to permit itself to drift into another | one without a very serious effort to | |evert it. And the way to do that | is to look with the eye of the realist lat the forces which are at work. | This means also that businessmen ought not to ‘allow themselves to be stampeded into socalled remedies vhich will have no effect upon their real troubles. For this reason I have been maks« ing an effort to canvass the general | DuisTRress situation and in this de- | partment I hope to outline it hon- | | estly and objectively and to point | [out the direction which any intelligent action must take. I have dis[cussed the matter with business and financial leaders, with public (officials and with authorities in ‘hese fields. The object of the pieces which are to follow is merely to set the picture straight.

They assume that these Sunnis

"I | constitute a soundgprog

! Grand

| Cows=

| steady,

| 250-325 | 0.50

| Broud

| Fidelity

| Gen np 30, oe 32.32

Porker Prices Drop 10 Cents To $9.65 Top

the local above

Oontinued pressure in hog market caused weights

| 160 pounds to decline 10 cents, ac

cording to the Bureau of Agriculs

tural Economics. Lighter weights were steady. Top dipped to $9.65 on choice 160 to 170=-pound butchers, Packing sows were 10 cents lower with prices ranging from $8 to $8.50,

| Practical top was $865,

Compared with close of last week, slaughter steers and yearlings are weak to 25 cents lower, with steers with weight and lower priced kinds in comparatively light supply. There was nothing strictly choice or bets ver here during the week. Heifers closed 25 cents higher, with all grades of cows 25 to 50 cents up, Bulls were steady. Vealers sales vesterday showed an advance of 50 cents for the period, or $11.50 top for choice descriptions. Steer peak for the week was $16 for 3 loads of choice 1225=pound weights, Trading in the stocker division was light this week. Some good heifer calves brought $7.35, with best steer calves $8 to $8.50. Compared with close last week, lambs are mostly 50 cents higher, with closing bulk good to choice native lambs 310 to $1050. Best fed western lambs at the finish cashed at 31075. Slaughter ewes ended the period steady, at mostly $3.50 down. HOGS Bulk N55@ 0.80 D55@ 0.80

: 45@ 9.70 [email protected]

Receipts 1000

4500 5500 4500 8000

Tob 5 080

fH 80 0.80 10.00 10 00 0.75 0 65

0 406, 9.65

{ Light Lights

(140-160) Good and Medium Lightweights (160-180) Good and Medium Good and Medium (200-220) Good and (220-250) Good and Heavyweighte= (250-290) Good (200-350) Good Packing Bows 1275-300) Good (350-425) Good (425-550) Good . 1275-550) Medium Blah 00-140)

choice

choice (180-200) choice

chotee choice. .

N57 B00@

choice choice

8.057% 00m 40 ig: Gond and edium CATTLE Receipts

choice . 8.157 8.00

L12007 16 0.25614 7.256 9.55 . DIP @ 1.58 Choice . 14 007 18.55 rood ' evs DIB@ 1H Medinm 5 75011 Common Choice 100d Med: um Choice Good

Choice Good Medium Common

(550-000)

000-1100)

(plain) (1100-1300)

155017 . 11.8506015.5

(1300-1500

Heifers Choice Good hs: ommon . Good and choice. Common, medium

(550-750) "ach 0 E@12 bbw 8.7

(750-800) ' 5.50@10

Cows . “ 825 1 medinm h.25% and cut tor 3.50@

Bulls

Good Common Low cutter

8.757% 19 47h@

thee)

Cutter, common and medium

Vealers Receipts, 50 10.00@11 ¢ N00 10 600@ 9

300d and choice Medium Cull and medium

7.50@1]

choice i 5.00@ 7.5

niedium

(250-500) Good and common Feeder and Stocker Cattle Steers (500-800) Ciood and cholee q ommon, medium 5 (800-1050) Good and choice . Common, medium. 5 7.00@ 26@)

5@ 5

25@

25@ 50 2b@ P.° 50a Heifers Good and choice Common and medium

Good

Common and medium

SHEEP AND LAMBS Receipts, 75 Lambs Choice Good Medium Common Shon Ewes 90-175) Good and choice common medium

25% 50m R250 ho@

“) 50 25 3.50 00

800% 2000

Nav 8 U ") ceipts, 7000, including 6500 directs slow steady at $0.70 Cattle receipt: 1000 general steer and vearling lowed market extremely lar; top, 190.85; nothing wanted above late top, light steers, $18.50; heifer years lings, $14.50; hulls, 75¢ up; vealers, $1 up, Sheep receipts, 4000; market steady; Iat lambs, 50@68c higher, sheep, Bade up; $10.85. fed Wester £10.50, vearlings, $9.50. slaughver £4.75, WAYNE, Nov, 6 (U. P.)., 160-180 1bs.. $0.55; . Ibs., $0.35

Hog ma

ros Ket

CHICAGO

100, market, regis

3105

calves

25¢c 81

top ew

FT. ket £9.45 $0.15; $8.05, $9.05. 130-14 100- 20 Ih LLR $6.75 calves $11.50; LAFAYETTE, Nov, 8 Hog ket, 5 to 10 cents lower Bulk hs £0 35600 60; 200-250 1hs., Ibs, $8009; 140-180 120-140 Ibs. $8.75 0 £8 254 8.50 Roughs, 88 50 down. $10.50% 11, Lambs—$10

INVESTING C0.’S

Fd 4.3) 15

Hog mars 180-200 Ibs 225-250 Ibs. $9.05 300-350 Ihe y $0.20; 140-150 Ibs $8.00; 120-130 Ibs. $8.75 55 Roh $8. stags, lambs, $0.75,

U, P)

. » “ > » ma r=

Calves

Bid Ask . Securities Ltd. Grp 1.20 1: 4 Grp 121 1.38 nvewt. Bank Corps: 6.26 7.28

11.38 1.12 0.0

Af Amerex Bas Ind Bos Fd Brit Type

Cent 2 f Sehoellkpf Cp Th Shi eo! Inv P AA 2 Key Key | Kev Kev Kev Kev ef Md Fd Mass Thy Mut Tn j Nathwd sec Nat Int Ny Eng . Xo Stock

» Ae 5 Dp Bk NY 1.] Dep Ins A 2 “RB 9

D 5.! 5.00 Shrs 1 1.81 18 7% 19.80 Riven] Fund, Tne,: Bk

Div Div

RW OD Coe — aa BAW DART IIND0

# a

Fa Tr

Gen Iny 4.73 5.14 Group Securities; 3 x 1.28 No Am 1855 '' 1056

! 1058 Rep Tr Sov_Tnv 8p Trask 1 Std Am Tr 2.90 Std Util State St 85. 00 f Super new 9.30 Tr st yg BS 31

2 Tr Bk 73 well "Pa 13. “ 14.84

CIRO GOON ID TD ek BD YP TFT PHP WTR LET A IADOOOR OB IWW ID

A DUR IPIR Tan

Inv Shrs ere Min BRT

a Beel Tob

Hur Cp Ine Invi T

FOREIGN EXCHANGE

NEW YORK, Nov, 6 (U exchange opened higher

Cable ha Engterd 0! Eng Canada France Ttaly Belgium Germany (mark) Switzerland (franc) Holland (guilder) Spain (peseta) Sweden (krona) (krone) (krone) (ven) "

139

39 1 16.5 9 14.78 17.718

P.) .=Foreigh Net Change 7% .00 3 8 «+.00 & * 000% * “ 001° :

(pound) 80=d. hill rate) (dollar) (franc) (lire) vate (belga) wn

Japan