Indianapolis Times, Indianapolis, Marion County, 13 November 1937 — Page 26

PAGE 26

MARKET ADVANCES FROM EARLY DROP AS SESSION CLOSES

Short Coverings Aids |

Stocks in Light Volume.

NEW YORK, . 13 (U.| P.).—Trading on off sharply | on the Stock Exchange today | when the list encountered sell- | ing. Prices drifted down fractions to 2 points, but in the | last few minutes came back from the lows on short coverings. Shorts wanted to be clear of commitments before opening of the special session of Congress Monday.

| 1936 | 1935

| Am Tel&T! 3'4s 66. 100%

N. Y. Bonds

By United Press BOND PRICE INDEXES

20 20 20 Inds. Rails Utils. .. 83.6 3.6 95.6 . 83.6 73.8 95.8 83.5 1 95.4 8.9 95.7 99.2 106.0 78.0 1024 101.2 106.0 1.5 92.3 100.4 106.2 84.7 103.5 86.4 1036 83. 7.0 89.3 1937, Standard Statistics

60 Bonds 84.3 84.4 83.7 86.9 99.8 90.3 100.7 82.3 100.2 93.3 93.1 83.0 So.)

Today Yesterday Week ago Month ago Year ago Tw years ago er 1937 1936

1935 (Copyright,

10 MOST ACTIVE BONDS

Net Month Year Chg. Ago Ago —1y 9413 5 s 99: +1 10

Close N Y Chi StL 4s 46, 913% Chi Nor W 434s 49 6% 1

Stl S Fran 4'52s 87.. 11%

THE INDIANAPOLIS TIMES

Net, Close Change -1 3% LA

£1

dead. 3 FH LIT

JI):

led 1

I+: +11

+: ++ +:

F++++1:

15 MOST ACTIVE STOCKS Net Close Change 4 23g 601; 19% 31% H% 114 6934 TV 543% 201, 40 42% 81% 35%

High Low 4% 3% 23s 2% ls SR 19% 30% 141% 13% 68%

United Corp tees Comnwlith So +H +1 + 4% Anaconda Cop . 315% + 1% Par Piet . Elec Pwr & Lt. 143 Chrysler mM TST .... Beth Steel N Y Cent Gen Motors Gen FEiec Nat Gypsum Kennecott Cop. 85%

% 1% 3% Ts % 1 12 Stock sales totaled 510,000 shares against 770,000 shares last Saturday. Curb stock sales approximated 107,oa shares, against 166,000 a year

4 53% 20 39% 41% 5% 34%

Net Close Change 11% Ve 3% 1 140 112 7034 3 8Ys 83% 9

443, 13% 512 Ti 141%

High Low 107% 31; 140 68 5% 9% 9 43% 13% 50%

7 14%;

Jnter Iron Int Agric 3 Int Business’ M 140 Int Harvester... 70% Int Hyd El A 8g Int T & 9, Int Mining ..., 4 Int Jickel RI | L Int P P . 13% nt P & P pt . 513%, mTE&ET .... DS

Jewel Tea

47, Johns-Man bag

Hi 833

— Kala Saye . 19Y 191% Kan Sou - p

547% 841;

FINAL NEW YORK STOCK QUOTATIONS

By United Press

Pac G&FEI Pacific Ltg Pacific Mills .. Packard ....... Panhandle .... Paraffine Co 44

Para Pict 2 pf. Park “Utah .... Parke Davis ... Parmele . Pathe Pilm ~ Patino Mines ~ Pecriess,

ee FEFEE

a EE

Press Stl Car .. Press Stl 2 pf .. 1 0) Ho 8 » “i

palm oil Purity Pak

Radio pf N Radio-K-Or Raybestos Reading Tv Reading 2 pf .. Ri Rand 15 Reo Mot ........ Republic Stl .. Repub Stl pf A Revere Cop ReynMet cu cv pf Reyn Tob B 4 Richfield on’

MARKETS AT A GLANCE

Stokke irregular in quiet tradng. Bonds irregular and quiet; U. S. Government issues higher. Curb stocks irregular and quiet, Chicago stocks irregular. Foreign exchange irregular, Cotton futures decline 30 to 50 cents a bale. Grains in Chicago: Wheat off 114 to 1'% cents; corn off 3 to 1% cents. Rubber futures lower. Silver off 1-16 penny in London at 19% pence a fine ounce.

Low 73% 421, 4

Nat Close Change Tenn Corp :

Texas Gai » od 43 r 30

8 exes, Gul 3 T

hompson Er .. homp Star . de" A Sha Up

Twin Coach

Und Ell Rish Union &

Union Save re

DROP ONE CENT

Grain Drops as Skepticism Of Argentine Crop Report | Appears.

OHICAGO, Nov. 13 (U. P) Wheat futures weakened on the Chicago Board of Trade today in accord with growing skepticism in world markets that crop damage in the Argentine may have been overestimated. At the close wheat was 1 to 1% cents lower, December 913 cents corn was 1 to 1% cents lower, December 54': i to % cents.

reached yesterday when that frost had slashed surplus of the country swept prices

reports

Prices rallied slightly in trade, encouraged by an improve-

exportable South American | ghortfed offerings bulked from $7 vo into firmer | ground on a wave of anxious buying. | early

| closely sorted hogs

peared

Substantial losses were FERStOreR were 95 cents lower, from the high point on the recovery | steady, while stockers and feeders

SATURDAY, NOV. 13, 1987

WHEAT PRICES 'Porker Prices

Remain Steady In Local Yards

Hog prices in all weights of bare rows, gilts and packing sows were steady today, according to the Bu= reau of Agricultural Economics. Top Lon schedule held to $0.15 on cholc® 140 to 170 pound weights. Some were 5 to 10 vents above the schedule, Packing sows moved within a range of 87.75 to $850, Pifteen hundred hogs ap=-

Compared with last week's lelose, butchers petween 150 and 400 pounds were 35 to 50 cents lower, The demand for lightweight offerings resulted in an advance of 5 to 35 cents for the week. Pigs around 100 pounds gained 60 cents. Today's cattle trading was nome inally steady. Compared with the

cents, and oats Were | qlgse last week steers were 25 to 30 cent lower, December, 30 | sents lower, kinds selling under $9

Heifers and cows Bulls were

| declined the least.

| were fully 25 cents lower. The week's steer top Was $1650. Grassy and

$10. Best heifers sold at $10.75, Vealers were steady with Tast | week's close, or from $11.50 down. Lamb receipts were light today

Ran © Soy pf. . 9 er Kayser Jul .... 15% 51; 2 Kelsey-Hayves , Kelsey-Haves Kennecott : Keystone Sti ..

However, long operators continued cautious and the short buying was | insufficient to set off a general pur- | chasing movement. | Ch M StP&P 5s 2000

| Phil Elec 3'5s 67... 105 Am Tel&TI 3'5s 61 10014 Cin Gas&EI 35s 66 102 4

. 103% 997g

nh Ofl Cal’... , Un Aircft Cp 197 | Un Air Lines .. { Un Am Bosch | Un Carbon United Corp

Anaconda 3 Anac WaCable. Amour Ill . Armstrong Ck

and trading was nominally steady. Compared with the close last week native and fed western lambs were

4 | ment at Winnipeg. But the market 3 |was slow to digest offerings. Export business dried up as dealers awaited more definite information

Sh gos) “a TE > Sea St Jos Lead .. -—tp qy | 8t L-8 Pran pf | Schenley Dist «2

Steel shares met good support when reports from leading centers | indicated the drop in Se levelling off. United States Steel, which touched | 5834, off 3%, came back to 60. Bethlehem came back a point from its low of 53%, Other steels mel support. Nonferrous metals rallied on | firmrness in copper metal abroad.

The automobile division was dull | 5,"

but prices steadied. The industry,

which recently has curtailed opera- |, tions, was reported stepping up its | 2:

pace for next week. Profit-taking came into several of vesterday’'s sufficient to cause more small decline. Fractional were noted in Johns Westinghouse Electric and du Pont. Allied Chemical and Case were off 2 points each.

DOW-JONES STOCK AVERAGES | 30 INDUSTRIALS

than a | losses

—0.04 Yesterday Week Ago Month Ago Year Ago High 1937 High 1936

-3.67 |

Yesterday

[ At

Month Ago Year Ago High 1937 High 1936 ...

Low 30.09 | Low 40.66 | 20 v TILITIES 23.44

23.28

10.16 -—0).20 —0.41 -—0.11 —0.08 | 37.54 Low 19.65 36.08 Low 28.63 70 STOCKS 15.18

Yesterday nm

20.96 33.93

Month Ago Year Ago High 1937 High 1936

Yesterday -—1.17 | 10.05 -0.31 Low 41.52 | Tow 51.20 |

Month Ago .... Year AZO ...eee eee . High 1937 High 1936

Week's Business | At a Glance

ADVERTISING — Advertising Age: Week Oct. 30, retail advertising placed in newspapers of 80 major cities 23,277,281 lines vs. 23,- | 814265 previous week and 23, 853,~ | 304 vear ago; year to date 874, 730,- | 876 vs. 839,492222 year ago.

AUTOMOBILES — Ward's motive Reports: Production this week, 85325 units vs. 89.770 last week and 104,290 year ago. Gen- | eral Motors Corp.: October sales to | dealers in U. S., Canada and over- | seas 166,939 units, record October | high. vs. 82,317 in September and | 90,764 year ago; 10 months 1761.- | 317, high for period since 1929, vs. 1,606,856 year ago. BANK CLEARINGS — Dun & Bradstreet: Week ended Nov. 10, | $5,422,722, 000 vs. $5.311,305,000 pre-|

Auto-

ago. CONSTRUCTION — Engineering News-Record: Awards this week | $35.820,000 vs. $22,427,000 last week and $38,372,000 year ago. ELECTRICITY —Edison Electric | Institute: Week Nov. 6 output 2,202451000 kwh vs. 2.254947000 previous week and 2,175810,000 year ago. FAILURES—Dun & Bradstreet: Week ended Nov, 4, 162 vs. 178 previous week and 151 year ago. INDEXES—Dun & Bradstreet: Week ended Nov. 10 business activity 82.3 per cent of estimated normal, low since Mav 27, 1936, vs. 836 | previous week and 954 year ago; | food index unchanged at $2.76 in | week ended Nov. 9 vs. $2.79 year | ago. Moody's: Week Nov. 6, busi-| ness activity 878 per cent of 1928 | average, low since April 4, 1936, vs. 916 previous week and 102.7 year ago. LUMBER — National Lumber Manufacturers Assn.: Week Oct. 30 production by 522 mills 205413,000 feet vs. 236,296,000 feet by 65%3 mills previous week; shipments 207,692,000 vs. 204.879,000; booked orders 163,522,000 vs. 176,664,000. METALS-—-American Bureau of | Metal Statistics: October world sil- | ver production, excluding Mexico, | 15,981,000 fine ounces vs. 17,788,000 in August and 17,153,000 year ago; 9 months output 139,120,000 fine ounces.

STEEL—American Iron & Steel Institute: Production this week scheduled at 41.0 per cent of capacity, low since July 15, 1935, vs. 486 last week and 74.0 year ago. United Press estimate: Steel ingot output this week 539,000 gross tons vs. 639,000 last week and 978.000 year ago. U. S. Steel Corp.: October shipments finished steel products 792, 310 tons, lowest since March 1936 | but with exception of 1936 best October since 1929, vs. 1.047962 in September and 1.007417 year ago; 10 months 11,749,156 tons, best for periods since 1929, vs. 8,875,124 year ago. TRADE—Dun & Bradstreet: Retail this week 3 to 7 per cent over last week and 5 to 18 per cent over year ago: wholesale 7 to 15 per cent over year ago. (Copyright, 193%, by United Press)

| Phips Dodg 34s 52 100%

wide gainers but was in- |

Manville, | 3

10.93 |

| Abitibi 5s | Alleg Corp 5s 44

| Chi Un Sta {Cin Un T 3

| Nat Steel

| Sou Rwy 6155 56

| T'n Pac 1st 4s 4% | U S Rubber 5s 47

. 105

Vert Sug 7s 42... . 1215 —} 912

Bond transactions approximated | $4,030,000 compared with $5,346,000 last Saturday.

U. S. GOVERNMENT BONDS Treasury Bonds

Close 105.27 106.25 106.21 107.8 106.22 106.1% 104.30 100.31

Low 105.27 106.25 106.21 107.8 106.22 106.17 104.30 100.25

1943-40 Ju 1943-41 M 1941 1947-43 .... 1945-43 .. 1946-44 1949-46 . 1951-48 .. 1953-49 .. s 1954-51 1955-51 ss 1960-55 Yas 1959-56 99.24 Federal Farm Mortgage Bonds 1964-44 eens JOT. 102.17 1949-44 ..102.17 102.17 Home Owners Loan Bonds 100.30 100.30 100.24 100.24 100.18 100.13 Federal Land Bank Bonds

Ask Yield 101% 2.82 10 8:

99.25

July 1955-45 Jan. May May July 1 May Nov.

53 (M)

Am & For P 5s 2030 .. 5155. 43... vn Am Wat Wk 6s 95. Anaconda C 45s 50 Arm Co Del 4s 55 TSE cv 45s 48 ... At TSF gen 4s 95 .... B&O ref 6s S 95 B&O ref 5s D 2000 B&O 4'4s 60 ~ Bu R&P con 4l5s 57 -

h & O

a Ch M St Sap. 55 2000 . Chi N W 43;5 49 Chi R I 4'%s 60 chi R I ref 4s 34ct.... 3348 63 .... ChiWInd 1053 62

| Clev UTer 3 BS 11 Col Sou 4'>s 8 . [Col G & E “5s 61 | Col GE 5s 52 May Cons Oil 3'5s 51 | Cons Edis 3's 56 | Con GNY 4'>s 51 Crane Co 315s 51 [Del & H ref 4s 43 Erie ref 5s TH .. Erie ref 5s 67 Gen M As 3%s 51 Gen M Ac 3s 46 ‘ | Gen Stl Cas 5!'5s 49 | Goodrich 6s 45 ~~ Goodv T & R 5s 57 . Gt North 4'5s E 77 .... 92 Gt Nor 45 G a Gt Nor 4s H Hous Oil 5's . Hud Man ref 5s 57 J Bell Tel 3's T0 ... Cen 434566. ........ TeCSING 55 A 63 ee Int St N Ist & A S52... nt Hy % 6s 4 ~~ I TR T Cv AI 39 .. Int T&T cv 4'%s 39 .... Jns & Lgh 4's 61 Keith ref 6s A 46 .... Kresge Fou 4s 45 Loews Inc Lorillard P 5s Lou Ark Rv Lou & Nash 4s 40 .... eCrory 8 5s 51 ...... MSPSSM cn 4s 38 st... Mo K & T 1st 4s 90 ... MKT adj 5s 67 . Mo Pacifi cv 5s 49 Mo Pacific 55 1 81 .... Mo Pacific 55s 77 .... Mont Pow 3%s 66 ..... ¢ | Nash C & SL. 45s 718 .... 4s 65 “e N Orl Term 4s 93 ..... x y Cent ro! aes on

NY NH H ov % 48 N Y Tel 4155 39 ... Ne, Pac 6s B 2047 Nor Pacif 3s 2047

y VHIFE FLETHFT IE ie Fr -

Le To.

Aviation Corp ~

Bald Loco ct wi Balt & Ohio Balt & O pf Barber Co Barnsdall .... Bendix Avn Best & Co .... Beth Steel . 5 Beth Steel 7 ‘pf 97 Black & Decker Blaw-Knox .. Boeing Air Bohn Al Br ... Bond Stores ... Borden “ee Borg- Warner Botany A . . Bdgept Brass. +a 8

Kimberly C.... Kresge S 8S

Lambert Lee Rub Leh P Cem.... Leh V Coal ... Leh V Coal pf.. h Val RR... 1 k.. 10%; «901; Lima Loco . 20% Loew's 61 Lone Star Cem. 40; Bell 2 . 20 1

Mack Tr Macy R Madison Magma Marine

. Mid ... T% Marshall Fld .. 3

Martin Gl

Burlington ™.. Burroughs Bush Term ... Butler Bros Butler Bros Butte Cop ... Byers, A M...

Cal Packing .. Callahan Zinc.. Calumet & H.. Sampvell Canada Dry ... enh Pacific ve. Sar olin T. Celanese Cent Aguirre... Cent. Foundry.. Cent J Cent, Viol Sug . Cerro de Pasco. Certain-teed . Champ Paper Ches C Ches & Ry “~~ Chic E TIL pf .. Chi Mail Order. Ch M StP & P. ChMStP&P nf . Ch & Nw Ry ..

Col Gas pf A .. Col Pictures vtc 18 Col Carbon Com Credit Com Inv Tr . ComInvTr cv pf 99 Com Solvents 9% Commonw So 2% Comnw_& & m 15% Conde Nast . . 12%

~} 4

f Laundries

| 1

Cons Aircraft Cons “ 2 Cons «203% Cons 2 ons 5% Cons Oi 10% Con RR Cuba pf 4h Con Textile . Cons Coal vtec . She Container Loe 16% Cont Bak A ... Cont Bak B

Crosley Rad ... Crown Cork ... Crown Zeller Crucible St . Cub-Am Sug ... Curtis Pub .... Curt Pub pf ... Curtiss-Wr .... Curtiss-Wr A . Cutler-Ham ..

Davega Stry ... Davega cu Ww . Deere & Co ... Deere Rs “ Deisel 0 in

Ohio Fdisn 4s 65 Pac Gask®l 4s 84 poun Co 4: 63 ¢ Penn RR on 4155 65 ...1 PennRR 414s DAR1 fennRR 414s 84 - ere Mara 5s A 36... PortGE 4155 RO Postal T&C 5s 53 . Reading 4'5s AY Rem Rd 4l.c 56 .. Ren Stl © 414s 50 SeahAirlin 6s 45 So Pacific 4155 81 SoPacific 45s 68

So Rwy 8s A 56 .. | Sou Rv gen 4s 56 ’ Stan Oil N J 3s 61..... Studbk 6s 45 7 Texas Cor 315s 81

United Drug 5s 53..... 80

Vanadium 5s 41 vay -— Ry Co 33%;:s 66 .. bash Sg A. "5..... Wabash 5s D 80 ve Warner Bro 6s 39.. W Mary Stas 77 .. West Union 5s 60 . Wheel Stl 4'5s 66 Young 8S & T 4s 61

FOREIGN BONDS

415s 7 5s

Argent Australia

111 a 9914 29 131% 631, German Ts 0, Japan Klis o Javan 5's Peru 6s

FOREIGN GN EXCH ANGE

NEW YORK, Nov. 13 (U. P.).—Foreigh exchange opened irregular. Cable Net Rates Change 4.98%; 4.00%

Tou,

England (pound) England (80-day will rate) . Canada France Italy (lire) - Germany (mark) . Belgium (belga) Holland (guilder) Spain (peseta) Sweden (krona) Norway (krone) Denmark (krone) ... Japan (yen)

U.S. SATENENT

WASHINGTON, Nov, 13 (U. P.) —Government expenses and receipts for the current fiscal year taronan Nov, 11, com pared with a year a os +P J.

is Expenses . $2818 602, 104. "84 $2, 385. Ysa, 045 N Receipts... 2,142,082.922.98 1,509, 582,490.0 . 676.569, 181.88 1.075. 780. 555. Nn . 2,658 431,130 58 1,581,131,384,18 Re 870,506 626.00 1.107.891.753.90 Pub. Debt 37,020 558.008.22 33.792.042.262.16 Gold Res. 12,788, 44) 922.51 E 112,209, PR. 74 Customs. 164.757.0684 43 156, 150.76 7.78

Sn s Pur Total Pur Inac. $2695 00 $1,257 427 807.08

INDIANAPOLIS CLEARING ROUSE Clea Sat ings

(dollar) | (franc)

EXE Aa rE

PEE

1580 ht El Pw & i Xt El Paso Nat Gas d Johns .. 37 ng Pub 8 .... Equit Bldg rie ;

Evans Prod

y—

Fair Morse ed Wat

$2.0. Ea ~ FEE

h . Preent Sulphur. 231

. 0

Gair Robt G

~ A - y BIL AND TT _ ae a 0

aa ERSTE

Gen T & “ Gillette 8 R .. Gimbel Bros ...

AR rt

. -— NAN Ee

Goodyear... Gotham Hos . Graham- Paige .

Greyhound 1 Grevhnd 5% pf

Harb-Walk .... Hecker Prod ... Here Mot > Folland Furn Hollan & & Son Holly Sug .... Hom Rake Houd-Her B Hovston "oil How . Hudson otor . Hupp Motor ...

jt 3 et x oF - La +

wun 3R: J

- > o-

Yn "

Martin Parry Masonite Corp. : May D . 44!

| Maytag

all Corp. > Cror “al

Mont Ward ... Mother joke

Nash-Kelv Nat Biscuit Nat Cash Ri Nat Dairy...» Nat Dept St .. Nat Distiliers’ ™ Nat Gypsum

t Lea Nat Pwr & Xd NatRysMx 2 pf. Nat Steel Natsyppivpenn

New Ay md .. 17 N J Air Brk ... |

RIB

~nN OOD, DN ed

24 1

No ve ig ld No pacific ve 18% 13% 32% 13% 25% 1212 15% 68 _—

12 . 15%

Ohio Oil Oliver Farm Hn Omnibus — Otis Elev . Otis Steel . Outhrd Marine Owens Ill Glass

Pac Am Fish 2 Pac Finance 15%

"INVESTING CO. s

Bid Ask 12.80 13.49 Inc Invs 460 5.08 Insti. Re ratrie fa . 18. I s G 1.23 1.3% 3.66 . ! 16.36 17.50 ‘Invest Bank Corps. 40 55, Bang 6.25 5 24.26 25.98 1st Bos 20.93 22.50/Inv XN C Comnwith 3.53 3.78 Key of B2 Contl Shrs 8.00 9. 00(Key Zp Tr Shrs 2.30 .. | Key Ep Tr AA 2.23

an Adm Fd

veh f 8 0 I Fd 6.30 ../Mass Inv 20.38

Y 1.72 Mut Inv 11.32 BD BE (Natnwd vig i 3

Dep Ins A 2.78 B 7 Inv NM

2.5 t 27.50 30. 50 New Eng 18.07 20.43 N.Y. Stocks, ne. Fiscal Fund, Tne: Pk Stks 8.29 Bk Stk 2868 2. 98 Bldg 7.49 Ins Stk 3.13 3.51 ges 8.18 ns

0s2 | 8.16 rE Mach 8.07 RR Bat

Fd Inv 16.78 17.80] 7.27 485 5.38 Steel 8.00 NE 4.4 © {No m Bd 53. 50 Gen Cap 31. 5 33.42 No. Am g Gen Inv 404 538 . Group Securilies: \ ri 1.27

95 1.34 1.21 18 88 1.01 1.15 1.11 Lif 1.17

94 45

85, Tr 1.8 Std B 10 AAA ind 1.07 wy, IP 13.02 15.32

YORK, Nov. hour day.

NEW striking for the six There is also in pretty complete paralysis One reason why the has turned down is b

investment to the revival of industry is the construction industry. One reason the construction industry has bogged down is because the cost of construction is so high that it is practically impossible for anybcdy to build a house, an office building, an apartment or any other sort of building and make it

one of the reasons the costs of construction are so high is because building materials have been raised too high. And another reason is because labor costs are so high. Yet at this moment various labor groups are following in the wake of material producers and demanding more and more wages. They may win the strike but they will kill building as dead as a door nail. They will be working not on a six-hour day but on a ho-hour day and a no-day week. It is no answer tp this that building workers work for so few days that even at the high wages they do not make a good year's living. That may be true. If it de true I do not see how raising the cost of building now is going to help them, It is already too high. It is already economically hspossRA, To raise

SE iB Central . i

it any higher is

® | Schulte R

“| Peit RR St Yds pfd

y Co a | Ind Hydro Elec 7

| Seab’d Air L .. | Seab'd Oil

2 Sears Roebuck ~.J6

| Skelmy oil 3 Simonds 8 & S | Socony- ac. ... 16 So Am og | So Por So onl} ; | South Pac South Rv ~ | South Rv pf .. Sparks With | Spencer K ... Sperry-Corn ... Spiegel Inc Square-D-B .. Std Brands . Std Brands pf Tob .

Std Std G & E Std G&E of Std G&E 7 Std O Cal Std Std Sterl Prod Stew-War 3 Stone & Web. .. Studebaker Sun Oil ' 591% | Sunshine Min. . 143% | Superhtr . 28% Superior Oil 3 Superior Stl 17 Suth Pap_...... 2] Swift & Co .... 18 Swift Intl 25'2 Syming- Gould 9%

LOCAL ISSUES

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

Riked Citz Ind Tel (TH) 4's 6 | H Tel & Tel Pt W 5'25 55 .... H Tel & Tel Ft W 6s 43 Toa Asso Tel 55s 65

108%

. | Indiana Tel Co 5s 0, » | Ind Railway Inc 5s 6

| Interstate Tel & 3 ie ‘sig s 54.. | Indpls Water Co 3'2 8 " | Kokomo Water Works 5s 58 Morris 5&10 Stores 5s 50 bi Water Works 5s 65 .. Noblesville H D & P 6's 47 .. | Ohio Tel Sery 6s 4 | Pub Tel 5's 55 Richmond W W 5s 57 Seymour Water Co 5s {TH Trac & L 5s 44 . . T H Water Works 5s 58 . T H Water Works 6s 49 . T H Water Works 6s 49 .. Trac Term Co 5s 57 y ETOOKS

Belt RR St Yds com

Tndpls Gas Lo, to Thdpls wr ¢ p ndonls & It pfd 8%: Tndpls Water Co pfd 5 2 Lincoln Natl Life ns 0 “com 3] P R Mallory com N Ind Pub Serv Co pia, 512%... N god Pub Berv pfd b . 0 N Ind Pub Serv co, br 1% Pub | Serv of Ind nfd ®% .. ub Serv of Tnd b = 3 rogress Laundry Co com 8% Smith Alsop P&V pfd Smith Alsop P&V com Terre Haute Elec Co 6% Union Title Co com van Camp Milk Co pfd ..... van Camp Milk Co com (By M. P. Orist & Co.)

Market St. Investing Corp 24.40 26.05

COMMODITY PRICES

COTTON en Yhea igh 0v % 7.85

nes

Prev. Close 7.98

5.01 8.11

Close December 7.85

Spot,

December January

En | United Fruit

| Bastian Bless . | Bendix Aviat

| Bruce | Butler

| Cent

y | Gan Radio Prod "irs

| United Cp pf | United Drug . Un Dyewood ...

$n El Coal

g & Pdy.

PB eee Nae wa

tae

Un Stores ne. Ut P&LA

Vanadium Van_ Raalte | Va=Caro Ch

Wabash nf A Walgreen | Walworth Ward Bak A | Warner Bros | Warren F & P. 23% Waukesha Wayne Pump Worh-Eisen Wes Oil & 8 West Pac . West Union

x O Willys Sven “ot Wilson & Co Woolworth Worthington | Worthington cv Worthng pr B . 3f

| Yale & T .. | Yellow Ti : {Young 8B & W [recep Sheet

Zenith Rad | Zonite

Chicago 8 Stocks

By United Press Low 93 3% 45, | T% 1%

Adams Mfg Adams Royalty Armour & Co ... Ashestos Mfg Autom Prod 1

Berghofl Brew Borg Warner EL Burd Piston R Bros EERE Butler B 5 cv pf Cold Stor Cent & SW Ut

21, 5 14 9 33 ls 1

| Chgo Corp Cities

Service Club Alum Comwith Edison comp Ind Gas Como] Bis Cord Corp Dixie Vortex A

{ Elec Househd | Elgin _Wateh

Gen Financ

| (Gen Hehid Ut.

Gossard Co

Ill No Util bt Jarvis W B

w >

A RIRINI rp —

~N wae

Bh A uM Pub 8ve LH 8 ot va : 97

— DO ed TD pk pk SASH D3

Ey a

mpson

JR)

Woodall Tnd

Curb Stocks

By United Press

— Aero Sup B ow te [FRIES

7.25 1.37 |

BUGAR New York Low 2.37 2.38 2.30

Prev close 2.38 | 2.39 241 |

Close 2.388 2.38 2.888

January

New York City of the construction industry. | pa line which marks the level of business activity | scause all sorts of investment has bogged down.

Labor Unions Must Determine Wages Rationally, Flynn Says §

By JOHN T. FLYNN Times Special Writer | Hu 13 Plumbers in parts of New York City are jones

and in the country as a whole a

One of the most important kinds of ®

end will be to make the worker's | number of days in the year of | actual work on building even less, | It is difficult to know what to do | about this. To raise one's voice | against it is to be put down as an enemy of labor. The politician will not do anything about it because he dares not. It is a job for organized labor itself. Organized labor has economists. It has research students, They know something of the facts I have referred to. Besides there are plenty of laborers in the United States outside the building trades who are victims of this false policy. Why does not labor itself sit down with this problem and try to fAgure out just how much wages a house building operation will stand. Maybe labor itself ean put the brakes on any further demands by building labor. Then it will be in a position to demand that the Government act against material men and cone tractors’ organizations. Something can be done in this field if a deter. mined attempt is made oh monopoly practices in the building materials market, Labor is the victim ‘of these practices, It cannot mend

to make it that ‘And the| business

8 | Alun Ltd .... | Alum Co Am ...

this wound by dealing the buliding Business another wound 2sell, i

Ala Pow 8 A 62 = 11 Afrlines

Cyan P Maracaibo.

| Bald Loco bd ws Barium 8t) Brown Co pf .. 43 Can Marconi Carrier Corp Centrif Pipe ‘ Cities Service |, Sittes Serv pf. Con Cop Mns Con Ret St oper Bes Cord gorp axie y Ir Pdy 4

a TOD pt Td BT Rk pt . ee aa

ed TEs FORE ENA

DW Iw NID

Humble Oil mp O Can ry Lau Bt] Mich Bumper | Mo oly enim pn Ar iy Am Afr ey tepec Vey pA Tnd 8 pf ... bi Petro Vi a Pees LOC Solver

Th | Binger Mfg 8td Oil Ky 11% Technicolor 20'% Uten&Oo 7% P 29 p wr A

“a 4 Wright Ha re

LIVING COSTS RISE

— ws @ FN

3% 4" 3%

: pean

SLIGHTLY IN MONTH

Times Speeial WASHINGTON, Nov. 13.-Living costs of wage earners raised 1 per cent from September to October in the United States, according to the monthly survey of the National Ine dustrial Conference Board. Substantial declines fn food prices was more than offset by cost increases in other groups. Living costs were more thah 4 per cent higher than a year ago, and 248 per cent than in the spring of 1953, but 116 per cent lower than inh Ocover, 1920.

* The * Indiana National Bank of Tndianapolis

3 3 | fir Bde;

"| | Fin “ouarantes re

from the Argentine,

ing weighed heavily on the e¢orn

| commission houses were on the sellling side, providing liberal offerings. Export business was meager. Liverpool closed fractionally high- | er,

CHICAGO GRAIN

210 88

Prev close 027% 93 87%

Wheat— Dee ve Mav July

High Ko 2

02% 87%

Close t 01%

s s

54% 567% 581%

55% 581, 50%,

3 30% 30

(h) Bid CABH

5 hard 3 mixed, 5 mixed,

(a)yAsk,

B45 51¢ 48%. 51Y2@5H3%ac, 5 yellow, 47%, No. 3 white, 521% TD se; sample,

Wheat-—Nbo, Corn--No. 40'%5¢; No 54V,@55¢c; No. 3 vellow, 4 vellow. 48@50'.c; No, 47%¢. No. 2 white, 55¢ No. 5 white,

No. 4

437 48¢.

Oats—Nbo, 32'5¢; sample, 32'%c Ba B el 41 @58¢: | So Bean ns—No. 2 vellow, 92 i Soho 82'%5¢, Timothy Clover —Red, [email protected]. sweet | Cash Provisions Lard $10 nominal: $10.12 ask; leaf, $10 ask; bellies,

| 2

white

33'%c: No. T2%ec.

ve—No malting,

3 white,

loose

Clase Bi

| WAGON WHEAT City grain elevators are paying for No 2 red, #5c: other grades on th heir Oarh corn, new No, 2 vellow, 4lc | 2%e.

Oats

LIVERPOOL WHEAT Prev Close 81.247, 1.21% 1.20%,

Clone $1.25 1.21'3 1.20%

Low a $124 a 1.20% « 1.19%

WINNIPEG WHEAT

High $1.25) . 1.21% 1.20%

Close $1.207% 1.18% 1.13" 1 97%

Low $1,199 1.142 1.12% 1.08%

Nav pee. +. May ..... July

FEDERAL RESERVE BUYS U. S. SECURITIES

020m 1.168% 113%, 1 8Y4

WASHINGTON, Nov. 13 (U, | [=e Federal Reserve system in- » litiated its new credit expansion

| ‘open market to purchase U, 8. Gov- | ernment securities for the first time since last April, the weekly condition statement showed today. Holding of these obligations for | the week ended Nov. 10 rose $10ay to a record high of $2,536,500.000. The increase was entirely in holdings of Treasury bill, with no change reported in Government bonds or Treasury notes, Partly as a result of these open | market purchases, excess reserves of reporting member banks rose $20,000,000 to a total of $1,070,000,000, although actua) reserve balances declined $10,000,000, to #6,879,000,000, indicating a substantial drop in | member bank deposits.

BANK STOC KS

ank of Manhattan + ankerz Trust ank of N Y Trust rooklvn Trust Hanover

orn NG ve rR National | fi Taran

agonal City Trust .

“ | Trin hod I yn racer

Pressure of liquidation and hedg-

ViGL 3c. No, 3 Beed —82.2572.85. | $7@ 7.75. |

$14.50

market and prices eased. Cash and |

mixed. | No. 2 vellow, | No. |

merits, |

Pp). |

hi | program this week by entering the |

| turkeys

p Michigan Yellows, 5,

mostly 50 cents lower,

HOGB

Bulk 80.404 2 9.25% 90061 998 R859 2.00 9.107 538 9.00@ 9.15

Aght Lights (140-1 )

Lightwei ha (180-180) Good and

M (180-200) ood and choice. .

(200-220) 1220-250) Heavyweights 1250-200) Good and 1290-350) Good and i Bows — «3501 Good (350- -425) Good (425-550) Good 1275-530) | Sagghtel Pigs 100-140) Good and choice. Medium ‘ CATTLE

Receipts, 25

Good and

choice. dium . vee

HICH. .

choiée choice. .

choice... choice...

S ABN AN NBDE BND 33 335% 33 38ST I= 08 9395 89 99988 89 SO sPw In Iwo BO

5 3933 39 333536 =

|e Jams

(550-900) G

a FASTA IST R I0B

(900-1100)

| | (1100-1300)

tpn DFADS I IV WT IW

3333 3RE3337

(1300-1500)

bt pat

(550-780) Choice Good Sh Common . a and choice . Common, medium

Cows

(750-800)

| Good Common, medinm Low cutter and cutter | Balls | ond (heel) . Cutter, common and medium. . Vealers — Receipts, Good and cholee ..... Medium Cull and

25 =

medium bie Calves

1250-500) good and choice . ommon, medium

pote a ane Cattle vers

(500-800) good on choice Common, medium (800-1050) Good

| "2

and choice Common, medium

PATO

Sa 3 353

Heifers— Cond and choice Common and medivm Cows Giood Common and medium SHEED AND LAMSS

Receipts, 3

>a a8 589 a8 3 33 Puy

33 SHe%

orn Ewes (90-175) “Gond and choice . Common, medium

CHICASY NO ihe 00 ipts, H ineluding ow, indications arouns 3 cents lower to rice steady a Pat he ReCHDS, 1000; calves, 100; War ket, steady: fed steers and yearlings . to $1 lower; 00 emia

evenly 25 cents armed-u here. bulls, steady; vealers, steady 180 1b 180-200 hs, $8.80; 200- 20h ou Hekvy Breed Hens 4? 44nd and Ber, ©

choice grades a Weights, 50 to prmK Io! Mond uy Bheep—Receipts, 3000, market, 380 ibs. $8, 250-275 Ibe, 1h LOCAL PRODUCE 19¢: under 41, pounds, , heavy LR

| Tower; supply rgely fop, 319 7" waid cents lower; fat, lambs, 40 to BO cents lower; $8.40. 300-350 ibs, #8. o, (The prices quoled are for sf ers, 15 pounds and over ie.

| #ho

direets,

; " 1 roughs, stags, $11.50,

short. vis ta BOS $16.50 5 weights around 13556 Ibs ; prime Vent W n sharing b ; APs 25 to cents | Tower; top for week, 0.25 for natives; slaughter ewes, $2.50@4. ». feeding lambs, Pr 8. % . 140-150 1hs., #8 "0. 130-140 Tha, Ibs, 98 100-120 1hs., $7.50, $6.95. Calves, Lambs, ni sred In the eountrv, while 6: oad prion in Indianapolis the prices are 1 eens higher, Bach ease of eggs must Weigh 5%

$17." ted heifers, 50 to 76 $0@ 9 85, WAYNE, Nov. By Ju. P.) =H Price 10 eentz lower: 9 50. pounds Joss.) No sirietly fresh, loss off, 28

re.

{ dies

No. ie

on forme,

' Jel iin prv chiga Onions (50.1h, oR adhe. Yinows "hd

prin ora, 115 pounds and aver, 15 hack broilers, 18¢; old ag Ts, Aveks, 4 povinds and over, ¢ old Bc: gees, 0 to 14 ons fe vorung hens, 2 pounds and over, Bre. toms, 14 pounds and over, 2ie,

1 Butter Wo 385% 19¢, Neo 2 Me, butterfat, Yo 1 He 3, We

FOOD PRICES

CMCAGO, Nov, 13 (U Michigan Melntosh, $1 al 0’ RA tatoes Tennesse, bu, ham Carrots—Tilinols, Ry fines, bu, 4 $1.25

Cruise Holidays "un

Plan now for choice accommodations tor

WEST INDIES and WINTER

CRUISES

For full information and rates apply

TRAVEL DEPARTMENT

(Second Floor)

The MERCHANTS NATIONAL BANK

Allied with THE INDIANA TRUST COMPANY

Members of the Federal Deposit Insurances Corporation