Indianapolis Times, Indianapolis, Marion County, 30 November 1937 — Page 13

TUESDAY, NOV. 30, 1937

BUILDING

GAIN AS RESULT OF

F. D. RS

PROGRAM -

Dow-Jones Industrial Average Up Three Points.

NEY YORK, Nov. 30 (U. P.).—Building shares today made belated response to President Roosevelt's housing prcgram and advanced fractions to more than 3 points. The stock market generally

was strong in dull turnover.

At noon the Dow-Jones industrial average was at 124.80, up 3.22 points. The railroad average was at 32.17, up 0.63, and the utility average was at 22.83, up 0.35. Johns Manville rose to 80'z, up 3% to feature gains in building shares. U. S. Gypsum was at 68'z, up 3'2; American Radiator 15, up “s; Flintkote 19%, up 1's, and Lone Star Cement 40':, up 1's. Other issues that would profit in a building boom included General Electric at 43, up 2!s; Westinghouse Electric 103, up 4; the coppers with advances ranging to more than a point and steels with gains to 3 points,

Today's Business At a Glance

CORPORATION NEWS

Baltimore & Ohio Railroad Co. week ended Nov. 27 carloadings 922959 vs. 26.894 previous week and 31,371 year ago. Southwestern Bell Telephone Co. October net operating income $1.699.991 vs. $1,673,235 year ago; 10 months $16,580,713 vs. $16,471,743 year ago.

DIVIDENDS

Porker Prices Remain Steady In Local Yards

Hog prices remained steady in the local yards today, according to the Bureau of Agricultural Economics. Firm prices were due to the fact that the local market was slightly higher than other leading markets yesterday and light receipts appeared today. Top remained at $8.75 on good to choice 140 to 180pound butchers. Packing sow prices were unchanged to bulk from $7.50 to $8. A few young butcher type sows sold as high as $8.25. Some strength was recorded in the vealer trade as $12 was recorded on odd head of choice offerings. The market was generally steady, as

good to choice offerings cashed from |

$11 to $11.50. Slaughter steers moved in a fairly! active to strong trend. The improvement was on beeves at $8.50 and up, although there was a doubtful sale for cattle in the top brackets. Several loads of light and medium weight short-fed bullocks Lrought $9.25 to $10.75. Plain steers sold from $6.50 to $8. Cow prices were fully steady. Heifers ruled slow and weak. Buyers absorbed moderately increased lamb supplies, weak to 25 cents lower, fed offerings suffered the decline. Top was $9.50 on both native and fed offerings. Fat natives sold mostly at $9 to $9.25. Common and medium fleshed Kincs cashed from $7 to $8.50. Slaughter ewes were steady at $4 down.

Receipts 11,000

Brunswick -Balke-Collender Co., 50 | 30.

cents on common payable Dec. 20 record Dec. 10 vs. like amount on Oct. 5 which marked resumption. Houston Oil Co., $1.50 on 6 per cent $25-par preferred payable Dec. 22 record Dec. 17. Houston Oil Field Material Co, 1215 cents on common payable Dec. 920 record Dec. 5 vs. initial 50 cents Sept. 30. F. E. Myers & Bro. Co., $1 payable Dec 27 record Dec. 15 vs. $1 each March 26 and June 26, $125 Sept. 27, and extra 50 cents Oct. 25. South Penn Oil Co. extra T7'2 cents and regular quarterly 3714 cents payable Dec. 28 record Dec. 10 vs like extra Sept. 30. Waldorf System, Inc. 20 cents payable Dec. 21 record Dec. 10 vs. like payment Oct. 1. Youngstown Sheet & Tube Co, 5 cents on common payable Dec. 20 record Dec. 9 vs. 75 cents each April 1 and July 1 and $1 Oct. 1. American Potash & General Corp., $2 on common payable Dec. 10 record Dec. 3 vs. $1.50 in June and $1.25 year ago. Fruehauf Trailer Co., 25 cents on common payable Dec. 24 record Dec. 15; 50 cents Oct. 1. General Telephone Corp., extra 25 cents and regular quarterly 25 cents on common payable Dec. 23 record Dec. 10 vs. extra 10 cents Sept. 23. Goebel Brewing Co., extra 2 cents and regular quarterly 5 cents payable Dec. 23 record Dec. 4 vs. exira 5 cents Sept. 30. W. T. Grant Co., 35 cents on new $10-par common and initial quarterly 25 cents on new 5 per cent $20par preferred payable Jan. 1 record Dec. 16. Peter Fox Brewing Co. 25 cents on common payable Jan. 2 record Dec. 15 vs. like payment Oct. 1. Haloid Co., regular quarterly 25 cents on common payable Dec. 24 record Dec. 15. Holland Furnace To., 50 cents on common payable Jan. 5 record Dec. 17 vs. like payment in October. Ken-Rad Tube & Lamp Corp. 37'2 cents on common Class “A” payable Dec. 15 record Dec. 8 vs. like payment declared Nov. 16 payable Dec. 10 record Nov. 20. Nehi Corp., $1 on common payable Dec. 22 record Dec. 6 vs. like payment Oct. 1. Shell Union Oil Corp., 5C cents on common payable Dec. 20 record Dec. 9 vs. like payment July 15. St. Joseph Lead Co., 50 cents payable Dec. 20 record Dec. 10 vs. like payments in previous quarters. Yukon Gold Co. 9 cents on common payable Dec. 22 record Dec. 6 vs. 6 cents each in June and September.

N. Y. Bonds

By United Press BOND PRICE INDEXES 20 20 20 Inds. Rails Utils. seve. 8313 1.1 94.3 . 80.8 69.4 91.1 85.0 76.0 95.3 99.1 106.0 81.9 102.9 101.2 106.0 69.3 9223 100.4 106.2 84.7 103.5 86.4 103.6 93.1 1.0 89.3 83.0 Standard Statistics Co.)

30 (U. P.).—Bonds

60 Bonds 82.2 81.4 85.4 100.0 91.9 100.7 81.1 100.2 93.3

Yesterday Week ago Month ago .... Year ago Two years ago 1937 193% 1936 1936 1935 1935 (Copyright, NEW YORK, Nov. opened firm:

Akershus 5s Argentine 4'2s . Chi Nor W 4l2s C

91.0 95.0

1937, Vs

Penn RR 4155 70 uvvvvves So Pac 4s 55 . . Third Ave 5s 60

GAY CONTENDS SEC CAN HINDER MARKET

NEW YORK, Nov. 30 (U. P.).— Charles R. Gay, New York Stock Exchange president, warned today that further Governmental regulation of the security exchanges might destroy their public service and endanger the financial structure of the country. In reply to a recent statement of William O. Douglas, Securities and Exchange Commission chairman, Mr. Gay defended the present stock exchange practices of self-regulation and indicated a belief that the recent market may have been at least

choice. . Lightweights— 1160-180) Good 1180-200) Good (200-220) Good (220-250) Good Heavyweights— 1250-290) Good {290- 350) Good Packing Sows— (275- 350) Good sev. vvvaen.. (350-425) Good ...... 1425-550) Good ......e0u00n 1275-550) Medium . Slaughter Pig (100-140) Good and choice.

choice. . choice. . choice. . choice.

and and

choice. . choice.

and and

993d 2.30000 COW 000000 WOD~ Dn . ON OOO! On ow

om ll

1500—

—Receipts,

Choice Good Medium

Common (900-1100)

[email protected] [email protected] 6.50@ 8.25 5.50@ 7.00 [email protected] [email protected] 7.00@ 9.50 6.00@ 7.25 [email protected] [email protected] 7.00@ 7.50 [email protected] [email protected]

(550-900)

Good Mediu . Common (plain) (1100-1300) Choice

M (1300-1500) G

Heifers

(550-750) Choice G

(750-800) Good and choice.. Common. medium. Good . Common, ‘med jum Low cutter and cutter

Good (beef) Cutter, common and medium. Vealers -—Receipts, 800— So A) and choice 10.000 13.9 Cull and common 5.00@ 8.50

250-500) Soca and choice.. [email protected] y mon, medium. 5.00@ 7.50 Wy and Stocker Cattle Steers (500-800) 3008 and choice. . mmon, medium. (800-1050) Good and choice.. Common, medium. Heifers— Good and choice . Common and medium ....ss Cows—

IU Bay 1D Lb ote oun un SSID

wore

Good ane Common and medium SHEEP AND LAMBS —Receipts, 350—

Lambs— Choice

sts ss ess rRarer Le

added

Shorn (90- 198) Good and choice. Common, medium.

uo wuow o5 ood

CHICAGO, Nov. 30 (U. P.).—Hogs—Receipts, 28,000, including 6000 directs; ket, steady to 15 cents lower on supply; market, 25 cents lower late; $8.50; late sales goed and choice 150-2 lbs., [email protected]; butchers, 270 Ibs, slow, bidding [email protected]; packing sows, $7.20@ 7.60; lightweights, $7.7 Cattle eceipts, 3000: calves, 1500; trade, active; some well-finished offerings here selling $12. 50% 14.50; short-fed and long-fed heifers, firm; cows, higher; bulls up 25 cents, top, $7; vealers, $i 0.59 down, selects. $11; stockers and feeders, $7.75 down to $6. - Sheep — Receipts, 7000, Including 300 direter fat lambs, mostly steady: choice ‘offerings upward to 9.50 an choice yearlings, $8. 50: ewes, $4.85 iy LAFAYETTE, Nov. 30 Market, sfeady: bulk jas 80 Ibs. 8.75; 180-225 1bs., [email protected]; 225- '325 lbs., [email protected]: 100-140 lbs., $8.25@ 8.50; roughs, $7.50 av, Calves, $11. Lambs, vo FT. YNE, Nov, 30 (U —Hogs— Market, I 140-160 Ibs., 88. 70: 160-180 180-200 Ibs.. 8 50; 200-225 lIbs., $8.30; 250-275 lbs., £8.20: .10% 300-350 lbs., $8; 120-140 ‘100-120 Ibs., $8.20; roughs, 37.25; stags, $6.25. Calves, $11. 50. Lambs, $9.

CHICAGO PRODUCE

Eggs — Market, steady; reecipts, 3283 cases; fresh graded firsts, carlots, 24c, less than carlots, 24c; extra firsts, carlots, 25c, less than carlots, 25c; storage checks, 18c: current Sreceipts, 23c; fresh dirties, 19c¢; fresh checks, 16c; refrigerator extras, 19'2c; refrigerator firsts, 1834c; refrigerator standards, 19%'%ec. Butter — Market, steady: receipts, 7477 tubs; extra firsts (90-91'2 score), 36@ 37l2¢; extras (92 score) .38'zc; firsts, 32'2 @34c; seconds, 29@31'zc; specials, 39@ 39'2c; standards, 36c¢c! centralized score), 34c; ceptralized (89 score), 32'%c. Poultry — Market, steady; receipts, 39 trucks; ducks, 16@19c; geese, 15'ac; spring chickens, 19@22'ac; hens, 16@19'2¢c; roosters, 14a 15c; broilers, 14@ p15! turkeys, 15 @22c; Leghorn hens, 14% J aistes, 19'4@

Cheese—Twins, 194719" = 19'% longhorns, 19'4@19'% Potatoes Sup Fan liberal: demand, slow; market aul; daho Russet Burbanks, $1.40@ 1.45; No. 2, $1.15@ 1.25; Colorado Red McClure, $1.45@ 1.50; Washington Russet Burbanks., $1.25; North Dakota Cobblers, $1.10: Wyoming Bliss Triumphs, $1.25; Minnesota Cobblers, $1.07 2; Minnesota Early Ohios, $1. Arrivals, 50; track, 310; shiynents, 399.

RAIL HEAD WILL RETIRE

NEW YORK, Nov. 30 (U. P.).— G. E. Gay, Northern Pacific Railway Co. secretary and assistant treasurer, will retire effective Dec. 1 after nearly 40 years of service with the system, Charles Donnelly, pres-

ident of the road, announced today.

F. G. Hollender Gay.

will succeed Mr.

See Final Edition of the Times

for

Closing Stock Quotations and Other Late News

partly caused by Governmental

| Go

THE INDIANAPOLIS TIMES

PAGE 13

NEW YORK STOCKS

By United Press

Net High Low Last Gnange Adv _Rumley .. { Air-Way El ... Alaska Jun

1%.

) 283s . 138 : SS . 141; 7234 48%: 48 . 273% . 14), 6%

Snu Hy Stl Fdies Water W Zinc Anaconda ..... Amour Ill ..... Atchison Atl Refining Atlas Corp ... Austin Nich ... Aviation Corp .

Bald Loco ct. Balt & Ohio .. Balt & Ohio ol Barber Co ... Barnsdall

Beth Steel 5 pf. Borg-Warner Bdgept Brass Briggs Mfg .... Bklyn-M T .... Bucyrus-Erie . Budd Mfg .... Burroughs .e Butte Cop ...

Calumet & H . Campbell Wy .. Canada Dry Can Pacific Celanese .. Cent Foundry Cerro de Pasco. Ches & Ohio .. ChMStP&P pf. Chrysler : Cleve fog a Br 1

ik Col Fuel & Iron Colum as ... 1 Com Credit Com Inv Tr Com Solvents... Commonw & So Cons Edison ... Cons Edison pf. Cons Oil Con Textile . Cont Oil Del . Crane Co Crown Zeller .. Cub Am Sug... Cudahy Curtis Pub ... Curtiss Wr A..

113%: U3

Deere & . 22%

East R Mill . Elec Auto L.... 20 Elec Boat Elec Pwr & Lt. Erie 2 pf Eureka Vac

Fajardo sue ver Fed Dep St ... Firestone T Flintkote Freept-Sulphur.

Gair Robt ... Sar Robt pf . Gar Wood Ind. Am Inv ... Am Tr .... Bronze ... cigar .... 25 Electric .. Motors ... 35 Prink..... Rty & U .. en Refract ... Gilet SR... Gimbel Bros ... Glidden Goodrich Goodyear Graham-Paige . Granby Glidden rts... Grevhound Cp . Gulf Mobile&No

Gen Gen

Gen

Hall Print Harb-Walk ... tg rod “es Herc . Holland Obit” . Houd-Her B ... Howe Sound .. Hudson Mtor .

Ill Central .... Ind Rayon .. Inspiratn Cop . Insshs cts Md .

NWO Bret O ty WaT eee

Int Harvester .

INVESTING CO. S

Bid Ask 11. i) 12.5( Invest. 4.09 4.5

Bid Ask Adm Fd Bank Corps. Affl Fd 5.25 6. 2

| Key cf S IMaj Shrs |Maryld Pd 5.87 Mass Inv Mut Inv

Comnwith 3.25 Contl Shrs 6.50 Cp Tr Shs 2.15 Cn AA 2

ce AA m " Acc m

Cum Tr Dep Ins A vB Div C "p Div Shrs Equity Fidelity Fiscal Fun Bk Stk Fix Tr A »B

2 .28| 8.50! is 85)

00 Boop greats E poss ag SY IY tt Yn OD Sy DNR NY

\ 1956 3.90 * ' 1958 16.57 Plvm Fd a 5.13 guar Inc 1

| Gen Cap 28. 72 30.88 Sel Am Gen Inv 458 4.98 Sel Inc Groun Securities Sov Inv i 11 1.21/Sp Trask .83 91/1 Std Util 1.27 1.38 Sup Cn A 1.10 120! TB 53 Sup SA

.96' Sup io 9. 1.21! Tr, 5:1 In C 6

Gen Tmo NBNND

9.79

‘90

DOW-JONES STOCK AVERAGES 30 INDUSTRIALS —2.13 +1.59

Yesterday Week ago .......... senses. 115.78 Month ago, holiday. Year ago High, 193%, 194.40; low, 113.64. High, 1936, 181.90: low, 143.11. 20 RAILROADS oo 3154 29.35

—1.17

Yesterday Week ago Month ago, holiday. Year ago ......:....:s rerrus 53.35 High, 193%, 64.46: low, 29.15, High, 1936, 59.89; low, 40.66, 20 UTILITIES Ssresraeruas sevacns 22.48

eseecnnes 253

Yesterday Week ago Month ago, holiday. Year ago High, 1937, 37.54; low, 19.65, High, 1936, 36.08; low, 28.63.

70 STOCKS Yesterday ..o.uc.cvnviee. srsan Week ago serene 39.51 Month ago, holiday. Year ago .............. Sreuus High, 1937, 69.67; low, 38.83%. High, 1936, 66.38; low, 51.20.

11.66

Net Last Change 411g 41, 129;

High Low 4% ‘4 412 41% 123% 1234 wn Rw 351% 3318 21

. 169% 1814 low

Int Nickel .e & P pf . Io 5 S ius.

Kennecott Kinney Kresge SS

35's

A & « 1178 . 30k Ja 387s

Lee Rub Lehn & I 0 r Glass Jocw “star ‘Cem Lou & Nash .. Ludlum Stl Macy RH Marine Mid ... Marsnsil Ha . May D S ve 3 May tag Metall Corp McCrory ...... McKeesport ... McKess & Rob. Miami Cop .. Mont Ward ‘es Mother Lode .. Motor Prod ... Murray

EERE ET)

Nat Biscuit

No Pacific

Ohio oft Omnib outbrd ® Marine

8 »®

Paciae als set Packa

Patkard Pict ... Para Pict 1 pf. k Utah ....

ps Phillips . Pitts Coke& Irn. Press Stl Car. Press Stl 2 pf. Proctor & G.. 4 Public Serv . 36%

WHEAT PRIGES FIRM AFTER EARLY DROP

Lower Foreign Market Exerts Pressure.

0300 @® Peed

— 3 ® ®

CHICAGO, Nov. 30 (U. P).~—~ Wheat prices firmed slightly at midsession today on the Chicago Board of Trade. At the end of the first hour wheat was lz to 4 cent lower, corn was 1; cent lower to sz cent higher and oats were unchanged to 4 cent higher. Some long lines were reinstated on today’s break and as prices began a recovery movement shorts took a small part of the offerings. The lower market abroad, however, exerted too much pressure and midsession prices remained below the previous close. Receipts were 15 cars. Corn prices also firmed in later trading after a sharply irregular start. Commission houses did most of the buying in the yellow grain. Most trade interest today, however, centered on the CEA hearings which opened in offices of the Board of Trade. The hearings will take evidence preparatory to tightening exchange rules. Corn receipts were 202 cars.

WAGON WHEAT a SY jiain, el elevators are paying for No. other grades on their merits. Can ‘corn, new No. 2 yellow, 4lc. Oats, c.

LIVERPOOL WHEAT Prev. Hi Close Close $1.12'5 81.13% a 1.12'2 1.12% 1.1233 1.13%

Dec. h

32 1.12's

FOOD PRICES

CHICAGO. Nov. 30 (U. P.).—Apples— Michigan, McIntosh, [email protected]. Sweet Potatoes—Tennessee, bushel hampers, ) ". Carrots—Illinois, bushel, Spinach—Illinois, bushel, matoes—Texas, lugs, $2.25@ flower—Long Island, crates, oi. 15. Peas —California, hampers, [email protected]. Celery —Michigan, square crates, 40@75c. Onions (50-1b. sacks)—Illinois yellows, Indiana yellows, Michigan yellows, 90c@$1.10; idaho

91 14.00 1 ° Inst] Securities Bk

RT Grp 1.13 1.26! Well ‘Fe 13.01 14. 38

! 31

Valencias, [email protected]: Washington Valencias, $1: Iowa yellows, $1.1212; Idaho whites, $1.25.

Stock Market Is Governed by Speculators, Flynn Declares

By JOHN T. FLYNN

Times Special Writer NEW YORK, Nov. 30.—The statement of Chairman William O. Douglas of the SEC on the commission's stock exchange policies is viewed in Wall Street as a threat on three of the Stock Exchange's most cherished

possessions.

They are the rule of the securities market by the traders,

the right of specialists to speculate on their own accounts, and the right of brokers to engage in floor trading on a large scale,

The chairman of the commission makes it plain that he prefers what he calls “self-government” of the security market to direct government by the commission. But he intimates: that self-government ought to be in the hands of those elements which represent most accurately the interests of the investing public.

This is a point of the greatest importance. The most conservative businessman will take the view that private business interests ought to have the opportunity to manage their own house. In this case the house is the stock market. But what are the private interests that are to be found in the stock market? They are stock brokers, specialists, investors, corporation management and money-lenders—chiefly bankers and banks. If this conservative view is sound, then it is these private interests which ought to have the right to govern the market. As matters stand, however, they do not. The government of the market is in the hands of just one of these groups. And it is the group, which, of all those named, is the least capable of governing the market wisely. The market is now governed by a small number of stock brokers who are members of the Stock Exchange. But it is worse

men who

All brokers are not alike. Some are truly brokers, men whe

and selling stocks. But others— and these are the most numerous— are speculators, gamblers in stocks.

It is a fact that for many years the Stock Exchange has been dominated by the speculation elements in it and not by those who are truly brokers. And the result is that we have not had self-government of the market any more than we would have self-government of a city if only those in a single neighborhood were allowed to vote. Because the speculators control the Exchange, the rules of the Exchange inevitably favor their stake in the market. The speculators and, for that matter, the brokers, are interested in plenty of speculation. They are not interested in th&community service or significance of their industry. Is Commissioner Douglas suggesting that the stock markets ought to have self-government in fact as well as in name, instead of government by only a single interest? This hints at a very significant reorganization of the markets and one which is thoroughly conservative.

Net Last Change 11%

High 11'2 83a Re Radio-K-Or ... 47% Rem-Rand .... 13% Republic Stl ... 17% Republic Stl pt. 72 Reyn Tob Ss 433

Richtield on’ .

Low 11's 8%

1s Ya

Pure Oil Purity Bak

seas —

tlt =

+4 - = -

St Jos Lead Soheniey Dist Schulte R Sears Roebuck . Servel Inc Shattuck ..... Shell Un Oil .. Silver King Simmons Snider Pkg .... Socony yacaum 5 South Pac 20

c++ ++] Sag si araionireass 2 aN Oe

! i

++++]

Spencer K Sperry-Corp Spiegel Inc ...

-raE mene

Br pe ee

Studebaker Superior Oil Swift & Co

+: =

Tenn Corp .... Texas Corp «... Tex G Sul ‘ee Texas & Pac. .e

NN aD

1 o>

4: 4: 5

Transamerica .. Tri-Cont 20th Cent-Fox . Twin CY RT .

Union Carb .. Un Oil Cal .... Un Pacific Un Aircraft Cp Un Air Lines .. United Corp .. United Cp pf .. United Fruit .. § Un Gas Imp .. US Pipe & F . U S Rubber ... US Rub 1 pf .. U S Steet .... U S Steel pf Un Stores A Univ CyclopsStl

Va-Car 6 pf .. Walworth ..... Warner Bros .. Warren Br .... West Pac pf .. West Air Dke Westing El ‘a Wheel Stl pl 24 Woolworth . 38'2

10!2 37% se is 3's

10'2

Yellow Tr ..... 37%

Young Sheet ..

Zonite 3

sarenns

Curb Stocks

By United Press

NEW YORK. Nov. 30 (U. P.). — Curb stocks opened irregularly higher Net Open Change Alum Co Am .. 1 “+

Taggart Corp

Un G . (By Indianapolis Bond & Share Corp.) The following quotations do not represent actual bids or offering. but merely indicate the approximate market level based on buying and selling inquiries or recent transactions.

BONDS Bid Asked Citz Ind Tel (TH) 4s 61....

Indiana Tel Co 5s 60... Ind Railway Inc 5s 67 Interstate Tel 5 Indpls Water Co 3'25 66.. Kokomo Water Works 5s 58. Moriis 5&10c Stores 5s 50.... § Muncie Water Works 58 65... Noblesville HL &

s 57.. Sesmour Water Co 55 49. +. 101 T H Trac & L 5s 44 Water Works 5s 56. sieen1g

Trac Term Co 5 . STOCKS

Belt RR St Yds com .... Belt RR St Yds pfd ...... Cent Ind Pur Yo pfd Home T&T Ft W 7% Hook Drug he com Ind & Mich E 7% Ind Gen Serv Co Ind Hydro Elec 1% pid Indpls Gas Co c “ail Indpls Pwr & Lt pfd 67% Indpls Pwr p 62 Indpls Water Co pfd 5% Lincoln Natl Lite Ins Co com. r Mallory com . . N Ind Pub oor Co id "512%. N

Ind Pub Serv Sid $ suse O Ind Pub Serv Co pid’ 7%... Pub Serv of Ind 67% 14 Pub Serv of Ind EE Progress Laundry Co com.... Smith Alsop P&V pfd

Smith Alsop P&V com.. ses Terre Haute Elec Co 6% .

Union Title Co com. Van Camp Milk Co pid’ . Van Camp Milk Co com......

(By M. P. Crist & Co.) Market St. Investing Corp.... 22.91

BANK STOCKS

Bid Bank of Manhattan ...eeeees 21% Bankers Trust 41 Bank of N. Y. Trust Brooklyn Trust Central Hanover ....... Chase ........covsvevinniinsen Chemical Commercial Continental . Corn Exchange .. Empire ........ First National Guaranty . {fring ‘ad anufacturers National City N ae Trust

Pub Title Guarantee

| PER CENT DROP INRETAIL SALES HERE REPORTED

Increases in September-to-October Period Shown By Other Cities.

Times Special WASHINGTON, Nov. 30.—October retail sales of 71 representative Indianapolis firms increased .3 per cent in dollar volume from October a year ago, but decreased 1.4 per cent from September this year, the Department of Commerce said today. The state, with 549 stores reporting, showed an increase for October over the same month last year of 1.5 per cent and an October increase this year over September of 1.3 per cent. Other notable percentage changes

were:

From From City

Sept. 1933 Evansville 6 ‘ Ft. Way . h 9.4 Cary .........o 5 —6.7 South Bend -—10.

Mun 53 Be biti and ER general stores showed the greatest increases, with motor vehicle, drug and restaurant sales also up. Furniture, household appliances and shoes were the most sluggish, the report said.

30 STATE SLUM UNITS PROBABLE

Authorities Expected to Be Set Up After Act Is Interpreted.

Thirty or more local slum clearance authorities probably will be set up in Indiana in January after Federal officials complete administrative interpretations of the U. S. Housing Act, Walter E. Stanton, State Housing Board executive secretary and legal adviser, predicted today. Because methods of financing the projects have not been worked out, only seven Indiana governmental units have made provision to come under the act. They are Delaware County, Jay County and the cities of Bluflton, Decatur, Vincennes, New Albany and Jeffersonville. Resolutions on housing now are pending before the Indianapolis and Ft. Wayne City Councils. “This slum clearance plan has been decentralized completely under the act,” Mr. Stanton said. ‘“County or city Governments must set up organizations before they can receive Federal grants or loans. “Purpose of the State Board is advisory and supervisory. Unless the proper administrative interpretations are placed on the act, the program may collapse here, as it will elsewhere.”

PASSENGER IS HURT AS BUS IS STONED

Drivers Union Secretary Denies Responsibility.

DETROIT, Nov. 30 (U. P).—A Greyhound bus was stoned and a passenger whose name was not learned was injured today in the first violence in the Detroit area incident to the strike of bus company drivers called Nov. 25. Walter Moore, Cincinnati, driver of the bus bound for Ohio, told State Police that two men hurled stones at the vehicle as it drove through suburban Lincoln Park. One window of the bus was shattered. The passenger was cut on the face. M. D. Warner, secretary of the Detroit local, Brotherhood of Railway Trainmen, said he did not bhelieve any of the strikers were responsible for the stoning.

FOREIGN EXCHANGE

NEW YORK, Nov. 30 (U. P.).—Opening foreign exchange firm. Cable Net

Rates Change England (pound) ..4.99 9-18 4-.00'a England (60-day bill 001 -,-. a

Canada (dollar) France (franc) Italy ‘lire) Belgium (belga) . Germany (mark) ... .40 Switzerland (franc). . Holland (guilder) Japan (yen) ........ J Te

U. S. 'S. STATEMENT

WASHINGTON, Nov. 30 (U. P.).—Government expenses and receipts for the current fiscal vear through Nov. 27. compared with a year age! Last Year

This ar 8 058, 866. 836. 75 $2.856, 072. 085.10 2,288,222,063.76 1.630,252,824.45 7 ,226,719,260.65

Expenses Receipts... Deficit

0 Pub. ‘Debt 37,087.943.420.28 33.795.164.271. 41 Gold Res. 12,774.049,111.16 11, 178. 138.870.20 Customs. . 181 Mei) 387. 2 176,662, iy 33

Toda Total P Inac, Gold «..... $8. “4. 3 $1,242,491, 492. 54

INDIANAPOLIS CLEARING HOUSE Clearings ..$ 2,623,000 Debits 5,915,000 Clearings for month ........... 75,271,000 Debits for month 189,329,000

LOCAL PRODUCE

The prices quoted are for quick gathered in the country, while for deliveries prices are 1 cent higher. Each case of eggs must weigh 55 pounds gross. gs—No. 1 strictly fresh, loss off, 25c. Chickens Heavy breed hens, 4'2 pounds and over, 17¢; under 4'2 pounds, 14c; Leghorn hens, llc; heavy springers, 1'; pounds and over. 18c: ghorn springers, 1'2 pounds and over, l4c; bareback broilers, 15c: old roosters, 9c. Ducks—White, 42 pounds and over, full feathered and fat, llc; colored ducks, 4!2 and over, 9c: under 4!': pounds. Poi feathered and fat, 8c; Indiana runner ducks, Geese. 9 pounds and over, full rad an at Butter—No. 1. 39@39'zc; Ne. 2, 37. Butterfat—No. 1. 35¢: No. 2, 33c.

Rush Jobs Make Us Smile

Hendren Printing Company, Inc.

470 CENTURY BLDG. RI-8533

Fidelity Investment Association MAKE YOUR FUTURE SECURE THROUGH THE

FIDELITY INCOME PLAN ROY L. BROWN—INDIANA MGR.

1404 4 Morcharté Bank |

day * Miss Jessie Henderson,

director, said she would summon him. Charges were made yesterday by parents of pupils he hauls that on Nov. 17 or Nov. 18 he drove his bus, loaded with children over the

traction crossing at Madison and Eplar Aves. in front of a traction car. He said today that he stopped®for the crossing and was waved on by two watchmen. When he was on the track he said he found that the traction was bearing down on the bus. “The bus is long,” he said, “and it was impossible to go back. So I gunned it and we went over safely.” “Sure, I'll answer the charges, anytime or any place they want me to.” Trustee Leonard Hohlt denied that Mr. White is a careless driver. Mrs. Bertha Minnich, who appeared at yesterday's session, charged that Mr. White disregarded ringing signals at the crossing. She said the bus was loaded with chil-

Roosevelt on Ocean, but He's Not All at Sea, Writer Says

Radio and Airmail to Keep Him Informed of Latest Developments During 9-Day Trip.

Harry Hopkins,

» 5 u

will be gone nine days.

out in the ocean. Mr. Hoover used to make a great point, when he ha-d a depression on his hands, of working like a grind. He would not leave the White House for weeks at a time. We were informed that he stayed awake until all hours of the night, often waking up about 3 a. m. to worry over the nation’s problems. Most business executives find that there is such a thing as worrying too much and that they often can make better decisions by breaking away from the office. Nine days at the other end of the radio instead of in the White House won't make very much difference one way or the other in how Mr. Roosevelt deals with the present situation. And if it makes any difference, it is likely to be in the direction of giving him better perspective and clearer judgment.

Ears Should Have Ached

After an absence of nearly three months I saw him a few days ago. The swelling from his tooth had gone. He looked pale and I thought, somewhat tired. Anyway, he ought to be tired. He ought to have earache, with everybody yelling that he should do this or not do it.

Whenever the President —any President—is ill, no matter how carefully the nature of the illness is explained, rumors always begin to circulate. Some of them grow to be first-class hair-raisers. Once we heard from New York and other way-points that one of Mr. Roosevelt’s press conferences came to a tragic end when he began to cry hysterically and had to be wheeled hurriedly out of the room. That rumor gave Washington correspondents—some 200 of whom saw him on the day in question—their bigrest laugh in months.

Some tme ago when Mr. Roosevelt went on a fishing trip off Galveston, the story spread that he was seriously ill and that he had been spirited aboard a Navy vessel under guard so that his real condition could be hidden from the public. But it happened that about that very time photographs appeared in newspapers all over the country showing Mr. Roosevelt aboard his fishing boat, talking with newspaper correspondents. Once Mr. Roosevelt ate too many cherries and quickly discovered that

Oscar White, R. R. 6, Perry Township school bus driver, would appear before the Marion County Accident Prevention Bureau to‘if T am summoned” to exlain charges of negligence.

Presidents, like small boys, must

School Bus Driver Is Charged With Negligence by Parents

said he

Bureau 4

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Two school pupils who said they were occupants of the bus told the same story. Twelve-year-old Betty Acton testified: “Two traffic boys were out at Eplar Ave. One of them, I think, had a flag. Mr. White did not stop before he went across the track.” Thirteen-year-old Gale Wiery added: “He (Mr. White) slowed

down enough to turn the corner. I don’t know whether he shifted gears or not ...I was sitting right in the back of the bus. I began to shrink down in the seat because I was afraid we were going to get hit.”

President Roosevelt is shown with his party after the Presidentiai yacht Potomac, at Miami. Fla., Left to right are Capt. W. B. Woodson, son, chief of the Antitrust Division of the Department of Justice, and Works Progress administrator, Harold L. Ickes is seated beside the President.

But it is not as bad as it sounds. service he can and does remain in closest contact with the White House and with officials here. He need not feel all at sea just because he 1s

suffer the penalty.

Times-Acme Telephoto embarking on for a five-day cruise. Naval aid; Robert Jack=-

Secretary of Interior

u u n

By RAYMOND CLAPPER Times Special Writer WASHINGTON, Nov. 30.—There is bound to be some criticism of President Roosevelt for leaving Washington on a fishing trip at this time when business conditions are the subject of so much concern, He

With radio and special airmail

But Wall Street became so excited over the inevitable rumors that the market broke, It was the most expensive stomach ache the New Deal ever suffered. Within the last few weeks Mr. Roosevelt has traveled across the country and back, to be seen by thousands of people, either in persor. or in newsreels. They have heard his voice over the air. They have read newspaper dispatches written by men who saw him in action. Yet at this very time reports are beginning to come back to Washington that Mr. Roosevelt is a very sick man. That he has had a breakdown, or dandruff or something. In a few days you probably will be seeing more fishing pictures that will show he is all right, even if you are no. convinced by the fact that more than 100 newspaper correspondents questioned him at his press conference last Friday for half an hour and found him, as usual, a match for their wits. Well, maybe that doesn’t prove anything. Anyway he is all right. I was talking recently with a man who has been making a ‘close study of Mr. Roosevelt, and his observation and information, gathered from dozens of intimates who have known Mr. Roosevelt for years, was that they had never seen Mr. Roosevelt down, but always buoyant.

President Fishes Near Dry Tortugas

MIAMI, Nov. 30 (U. P.).—Presi= dent Roosevelt whipped the sea in the vicinity of the Dry Tortugas near Key West for the gamey bonefish today, enjoying his holiday aboard the yacht Potomac. The Potomac reached historie Dry Tortugas after a 165-mile run from Miami. The President began his fishing soon after the Potomac, accompanied by the destroyer Selfridge, left Miami. A bulletin from the ship said he had made the first catch, a large mackerel,

OTTAWA, Ont. Nov. 30 (U. P)). —Prime Minister Mackenzie King was en route to Florida today for a two-weeks’ vacation. He said that his visit to the United States had no national or international significance. The Canadian Prime Minister said he did not expect to see Presi= dent Roosevelt, who is vacationing in Florida waters.

BRIDGE WORK APPROVED

Times Special WASHINGTON, Nov. 30.—Presi« dential approval of expenditure of $46,073 of Works Progross Admine istration funds for removal of the Ninth St. canal bridge in Indianapolis was announced today by the office of Senator VanNuys,

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