Indianapolis Times, Indianapolis, Marion County, 22 December 1937 — Page 21

~ RECOVERY

MAKES UP EARLY LOSSES IN STOCK

Steels Again Active; Motor Issues Up From Lows.

NEW YORK, Dec. 22 (U. P) —Stocks drifted uncertainly in dull trading, losing fractions to more than a point and then recovered

part of the decline. Steel shares again were active. “U.S. Steel dropped to 60s for a point loss and rallied to 61. Bethle.hem touched 613% for more than a point loss and came back to 62%. Youngstown Sheet & Tube had 2 points advance at 437s. ~ Motor shares picked up from lows, Chrysler dropping to 55% for more than a point loss and recovering to 563, while General Motors came back fractionally. Du Pont was about a point lower while American Can was more than a point higher. Metals were led by American Smelting which lost almost 2 points. ‘Atchison rallied to recover almost all of an early loss. Utilities were quiet. eg #

Today 's Business At a Glance

GENERAL BUSINESS

American Bureau of Metal Statistics reports November U. S. refined lead production 46,796 tons vs. 49,197 in October and 43,831 year ago; 11 months, 483,634 vs. 416,102 year ago; stocks at end of November, 113,573 tons Vs. 100,646 end of October and 176,960 year ago. Edison Electric Institute reports week ended Dec. 18 electric power output 2,202,200,000 kwh. vs. 2,196,105,000 previous week and 2,278,303,000 year ago. Engineering construction awards this 493,000 vs. $33,657,000 last year. Treasury Department reports November cigaret ‘production 12,786.229,523 Vs.. 11,557,116,290 year ago; large cigars 492,686,008 vs. 489,179,709; domestic smoking and chewing tobacco output 23,797,206 pounds vs. 23,576,496 year ago.

CORPORATION NEWS

News-Record reports

. H Central Aquirre Associates, fiscal year ended July 31, net profit, $2,-|; 1 (

947,043, equal to $3.96 a share Vs. $2,545,473 or $3.42 previous year. Chesapeake & Ohio Railway Co.,

first 11 months, net income, $31.- 5

217,191, equal to $4 a common share vs. $39,008,259 or $5.09 year ago; November net income $2,111,970 vs. $4,638,527 year ago. Federal Water Service Corp. and subsidiaries, excluding Southern Natural Gas Co. 12 months ended Sept. 30, net income, $1,108,669, equal to 19 cents a class “A” share vs. $835,730 or $5.25 a share on com-

bined preferred previous 12 months. |

Public Service Corp. of New Jersey and su es, 12 months ended Nov. 30, net income, $25,137,468 vs. $25,025916 previous -12 months. : Punta Alegre Sugar Corp. and subsidiaries, fiscal year ended Sept. 80, net profit $390,815 vs. $131,798 previous year.

DIVIDENDS

Cuneo Press, Inc.,-extra $1.25 on common, payable Dec. 31 record . Dec. 21 at stockholders option in stock at rate of 1-20 share of common for each share held. Lawyers Trust Co., 35 cents, payable Jan. 3 record Dec. 24 vs. 60 cents quarterly previously. E. R. Squibb & Sons, 1-100th of $6 cumulative first preferred on each share of common payable Dec. 27 record Dec. 22. Texas Hydro-Electric Corp, 25 cents on account of accumulations on $3.50 cumulative preferred, payable Dec. 27 record Dec. 23 vs. 25 cents Oct. 21, when arrears totaled $20.99 a share. (Copyright, 1937, by United Press)

week $15,- D

Light Receipts Boom Porker

esis ip inniniin

hogs, both locally and around the circuit, found killers in a buying mood, and a healthy advance was posted here at Indianapolis today, according to the Bureau of Agricultural Economics.

40 cents higher than yesterday and the yards were fairly well cleared. This sends the top to $8.60 on 150 to 180-lb. weights. Packing sows opened 25¢ higher, with the bulk fat kinds early $6.50 to $7, odd head $7.10. Some late bids on packing sows show less advance. All interests, including local killers, shippers and yard traders, competed for another small supply of killing cattle here today, and values improved throughout the list. About 10 loads of steers sold strong with yesterday's gain, while cows moved actively and strong to extremes 25 cents higher, the maximum gain on beef cows. supply of heifers held firm as did bulls. One load of good steers scaling at 1073 pounds went on Eastern

weight steers at $9.25, with the bulk of ‘plain and medium from $7 to $8.25. Best fat cows reached $6.50, cutter grades $3.75 to $5. heifers of a plain and medium grade sold from $5.50 to $6.75. The practical top on sausage material stopped at $6.75. bulk good and choice going at $10.50 to $11. Lamb prices declined fully 25 cents. Good to choice native and fed western lambs cashed generally from $8.25 to $8.75. Slaughter ewes remained steady at $3 down.

td = e

200000300000 00K

BI i babe = 8B ococouowo g wn

o Top Receipts 15. $8.70 4500 16. 17. 18. 20. 32 Light Lights— § 140-160) Goo Lig ight (

Se ( (2

©»

99-1-3-1-30003

OB ONIN OO

(SIS SEISE)

8. 8. 8.2 8. 8.

8.60 choice. .$ 8.35@ 8.60

choice.. 8.35 choice. . ‘ choice. . choice. .

8.50 8.4

choice. choice..

a0 Sand 93 Sno 3b) PDW-ID WD Orb MO TOUR WO tat 00 SPO . 00 Pee M0: MMI NIN © 8 8%38n 33 838

sam w on

CATTLE . —Receipts, 800— (550-300)

#46300 hi (O00 but NOI OO C3 1-4 Sagas MONO O

Co! (900-1100)

C (1100-1300)

LI Ibo ND NATIT MOU NNO QA Uren 939303900098 DINOS

Sgaaaais

Mi (1300-1500) Good ~

(550-750) Good

Cows —Receipts, 500—

Good “ Common, medi Low cutter

Good (beef) Cutter, common and medium..

Vealers Receipts, 700— Good and choice

Medium Cull and

(250-500) Good and choice.. Common, medium.

Feeder and Stocker Cattle Steers

(500-800) Good and choice.. Common, medium. (800-1050) Good and choice.. Common, medium. Heifers— Good and choice Common and medium Cows—

SHEEP AND LAMBS

—Receipts, 150 Lambs— p One

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

CHICAGO, Dec. 22 (U. P.).—Hogs-—Re-

. INVESTING CO. Ask

Bid Ask : Bid 12.47 13.27 Key cf B2 23.02 25.16 4.42 4.86|Key cf B3 15.26 16.68 Am Gen J Key cf K1 15.90 17.3 Bas Ind 3.59" ....| Key cf K2 10.96 11.98 Bos Fd 16.46 17.60| Key cf S2 14.71 16.12 Brit Typé 31 46/Key cf S4 5.05 5.60 Broad St 23.36 Mary Fd 6.09 6.68 Cent 19.94 .32 Comnwith 3.21 52 Contl Shrs 17. 1 Cp, Tr Shrs

Adm Fd Affl Fd

2.28

2 - 0

Dib LIED RUNOR DOD 0

0 42 68 23 .85 75 53 4

830018038003

117.35 18 24.50 27.50! Ni 18.98 20.43

ng. T39 L. Fd Inv. 16.39 17.42 ¥d ® A 4.79 5.38 ae 2 29:35 3145| So n a A ’, v fav “479 “5.21 ities - 1.31{8u 77 ..85

1.44! Super Wl Br CP 1636 1813) "Db °3% 8: . 18. : » sti. Securities Ltd.| Tr St Ofl A 8. 13 8B Corps.| US 1&P B

5.00] ¥ 31. 82 well Fd' 13.06 1439

————————————————— Hea reed hens, 4% 1bs.., and up. 17c; under 4% 1 ..- 14e; leghorn ene: ile: heavy. sp. rs. 14 Js and over, 18¢c: leghorn er ers, 1% lbs. and over, 14c; bareback otlers, 8c; old roosters. oc : 0 oung y » | ~ 14-23 1bs.. 19¢: old hens, toms, 14c: No. 23 turkeys, l4c

jucks— 4% ibs. and over, full nerell i tha » a * oie

. and over

‘fat. 13c: colored, 43; lbs. under 4% Ibs.. full RL geese, . and up and fat, 1%. : :

Eggs—No. 1 strictly fresh ; Jul cabo’ milk 15 ts for gross. A Det Ces Ibs. will be made). 1, 38%@39%: No. 2. 36%@ t—No. 35¢c: No. 2, 33c. by Wadley Co.

FOOD PRICES 00, Bi fad iir OBeE bush

is Sra

ween 55 Toe.

" 35@40c

40 | highes

| seconds, 29@30c; specials, 347

el hampers. 80c

22 (U. Og! ceipts, 17,000, including 4500 directs; marke’, 25@35c higher than yesterday's average; Spois 0] on butchers, 210 lbs up; top, $8.30: 200 1lbs., a

. *y

8; most good

1200; a few

calves, 8 pets and order buyers takin Sr Ta A IRL LE s; early top, .25, for highly finished 1377-lb. RD vitagas; paid , $13; beef cows, weak; barely active and steady: bulls ady to easy and vealers steady at $1 cutters, $4@5; heifers steady to strong. Sheep—Receipts, 8000; :no directs: fat lambs, slow; eariy undertore 25@50c or more lower: talking, [email protected] on good to ghoice alive Janne now held to $8.75 ; undertone weak to lo sheep; feeding lambs, scarce. . wr =

CHICAGO PRODUCE

Eggs—Market, steady; receipts cases; extra firsts, .cars, 23c; Res a cars, 25c¢; fresh jaded firsts, cars, 22c; less than cars, 24c; storage checks, 16c; current. receipts, 2il%c; fresh checks, 18c; fresh dirties, 19c; storage dirties, 17c; refrigerator extras, 20%g¢; refrigerator standards. 20c; refrigerator firsts, 20%.&. Butter—Market, weak; receipts, 6615 tubs; extra firsts (90-91'2 score), 32@33c; extras (92 score), 34c; firsts, 30}2@31%ac; Second; 2@35¢; stand

Pouitry\-Market, steady: recei 53 trucks; ducks, 1 @22¢: jE 30c: BILE? wiles: Sie: Huskers. maT ; , C3 k 8 ’ - hort hens, 5 SR urkeys 18@27c; Leg : Cheese—Twins. 17340; 18%c; Longhorns, tease Daisies; a - Potatoes—Supplies, moderate; slow: market, steady; Idato R [email protected]%; 281.55; No

ers, 07%: consin Round Whites, $1.05; ! Russet Rurals, $1.07'%. . Trach sa chi ja

than carlots, nel es: shorda Bliss Triumphs, per

«J as ass 58; on track. 248; shipments,

DAILY PRICE INDEX

NEW YORK, Dec. 22 (U. P.).— Dun & Bradstreet’s daily weighted price index of 80 basic commodities, compiled for the United Press (193032 average 100): Yesterday ©0400 0000000°00000 11748 Week ago S000 0000 RrN 117.31 Month 880 ceveverecesnssssee 116.89 Year ago seseessess 140.63 1937 high, April 5......::,.... 158.26 1937 low, Dec. 18............. 116.47

WINS TAX REFUND WASHINGTON, Dec. 22 (U. P.). ~The Board of Tax Appeals today entered a decision showing that the Northwest Bancorporation, Minne- - ‘income

cutters,

{

pclae apolis, overpaid its 1929

PARTLY

Price 40 Cents|t

h Continued curtailed marketings of | 4

With only around 4500 head avail- | Bt able, most barrows and gilts ruled |:

A meager | Sh account at $11, a load of good lighter | &

Most Cont Mot

Cub: Vealers held steady today with

d, true.

By United Press.

ORK STOCKS

Net Last Change

Am AW Am Pw ti | Am Ra ad 8 14 4 al th .. 10% AmRolMil cv pf 67% Am’ Seating ... 11 Am Smel 513% $m °F ai Am res Am T Am

Am Am

H+

Ease Ear ws SEE seEe

F413

mee as

3org-Warner .. Boston & Me .

FEA +H HH

ullar 3urlington M... 3uroughs Butte Cop

Callahan Zine.. Can Pacific ... Carpenter Stl . Carriers & Gen 4 Celanese Celotex Cerro de Pasco. Certain-teed .. Ches C Ches & Ohio .. Chi Mail Order. Ch MStP&P &Nw R; Chrysler Colum Gas .... 9 Com Solvents .. Commonw & So

Ses

tHE

° . 0

Co .;eee Cream Wht ... Crown Cork ... Crown _ Zeller Crucible St

RS SESS

Curtiss-Wr .... Curtiss-Wr A .. Cugler-Ham

+H HHL

D DL Det Ed Dist Se Dome Mines . Douglas Air ... 40 Dresser B Dunhill

DIPS ARE SLIGHT ON CHICAGO GRAIN MART

fo +1: ce &

"04

0 Yu

Professionals Take Control Of Wheat Trading.

fessionals again took control of the wheat market in midsession today on the Chicago Boar dof Trade, this time on the bear side.

3% to 14 cent lower, and oats were

unchanged. | ES "Although slling predominated shortly after the. start, dips were confined to less than a cént. The

sign of activity and even this was small in volume. - Wheat receipts were 13 cars.

Corn slid off fractionally, but developed a steadier tone after early downturns. Resting orders to sell in May corn have been rioted around 60 cents. Corn receipts weree 168 cars.

LIVERPOOL WHEAT

Fh aT, oF rh Tide 1.00% 1.09 111% 110% 1.10 119% 111% 11% 111%

, ARGENTINE GRAIN ENOS AIRES, Dec. 22 (U. P.).—Grain futures opened lower... Wheat—December, Ys, off 3a¢; February, $1.02%, off 3c. Corn—Decembpr, 76c, off Vic; February, 5%¢, off ab. Oats—S 3

pot, Y4C, Une changed. Flaji—February, $1.29%, off %c; March. $1.29%, off ory 31.29%. off %

U. S. STATEMENT

' WASHINGTON, Dec. 22 (U. P.).—Government expenses and receipts for the current fiscal year through Dec. 20, com-

pared with a year ago: : This Year Last Year Expenses . 98,302.81 $3,340,216,098.92 Receipts .. 2,069,684,545.89 3.008 oe

.930

y 052 204,417, 'oday’s Purch, ‘Total Purch. Inac. Gold [....$14,848.44 $1,232,650,540.31

Customs .. |

NEW Y

DOW-JONES STOCK AVERAGES, aii

— Va | Yesterday ......cec cornennnn:120.98

| Gen - Motors ...

CHICAGO, Dec. 22 (U. P).—Pro- | At the end of the first hour wheat | 2

was % to 3% cent lower, corn was |St

professional selling “was the only |f

20 INDUSTRIALS

Week ago ii car ieseiere sss 12419 MODth 880 «ccocsccessessess 118.64 Year ago ..... cress ene eee+-178.36 High, 1987, 194.40; low, 113.64, High, 1936, 184.90; low, 143.11. : 20 RAILROADS

Year ago High, 1987, 64.46; low. 29.15. High, 1936, 59.89; low. 40.66. 20 UTILITIES Yesterday ..c.ccoecoeveccen.. 21.81 Week 880 ccocescccscsscoccss 21.46 Month 880 ..isecsesssvisssss 21.10 Year ago 84 High, 1937, 37.54; low, 19.65. High, 1936; 36.08; low, 28.68. ‘ 70 STOCKS Yesterday ccccccces easenssnse 43.60 Week BZ0 cc.ccovcccscscccces 41.88 Month 880 ccoccsesscscessses 38.87 Year ago cssnsnisenses 03.20 " High, 1937, 69.67; low, 38.87. High, 1936, 66.38; low, 51.20.

+0.22 +0.20 —0.64 +0.39

Net Last Change 119% — Ya 131% — Y%

High Low

Du Pont 119%, 119 Du P ..1313 131% Ep

+ %

ast A Mill ... 8% 8 1A F 9 J

% 7 13 -_ 45

"id Phe! "irestone T .... 2 "lintkote "ood Mach .... 31% freept-Sulphur. 23

Gair Rob Gar Woo Gen Am Gen Am Tr .... Gen Electric ... Gen Foods .... 32 33%

5% 6%. 45%, . 44%, 32 33

Inv...

N. Y. Bonds By United Press ; BOND PRICE IVDEXES

Inds. 81.5 81.4 81.4 94.2 90.8 95.0 80.1 94.8

60 Bonds 83.0 82.7 82.0. 99.4 2”.3

Ralls 73.3 2.3 70.2 98.8 83.1 101.2 - 69.3 100.4 84.7

Utils. 94.8 94.2 94.4 105.3/ 103.0 106.0 92.3 106.2 103.5

Yesterday occ... Week 3g0 coco Month age .... Year ago Two years ago. 1937 high ..... 1937 10W cccoes 1936 high «cc... 1986 low ..ccco 90.0 1935 high ..... 91.4 864 103.6 1935 low .. 83.6 71.0 89.3 83.0 (Copyright, 1937, Standard Statistics Co.)

81.1

93.3

opened high n er. Australia Bias Canada 22s Illinois Central 4%s

YORK, Dec. 22 (U. P.).—Bonds

Southern Rwy 4s .. Third Ave. 55 Adj ’60.. Warner Bros 6s

Curb Stocks

By United Press NEW YORK, Dec. 22 (U. P.).—Curb stocks opened. irregular, Aluminum Company America 83 +4 % American Super Power save Brazil T. Peocecsdsns + ¥ Cities Service. .. Buses Electric Bonds —-— Ya M + Ys

LOCAL ISSUES

(By Indianapolis Bond & Share Corp.)

sent ‘actual bids or offerings, but merely dicate the approximate market level based on buying and selling inquiries or recent transactions. 3 BONDS Bi ‘Citz Ind Tel (TH) 4%s 61 ...101 04 H Tel & Tel Ft W- 5%48 LI 5 H Tel & Tel Ft W 6s 43 0 Ind Asso Tel 4%s 65 Ind Tel C nd Railw Interstate ndpls Water Co 3% Kokomo ater Wor i c

orris

106% 10672 100

T H Water Works 6s Trac Term Co 58 57 . STOCKS xBelt RR St Yds com .. ZR EE ST BG ent Int Pw xHome T&T Ft Ww 1% pid... 50 Hook Drug Inc com 13 10d Gen Ser x n ind Jivdro Ries 1% pid 1dpis as Co xIndpls P & Lt_pfd 6% 82 ndpls Pwr & Lt pfd 6%% .. 89 Indpls Water Co pfd 5% 102 Jineeln Nu Life Ins-Ce com. OXY: COM. vies. iss Bh Berv Co. pid 51%. d % Saeee Oeneons

Fonton Title Co com -.. Van Camp Milk Co pid Van Camp Milk (By M. P. Crist & Co.)

INDIANAPOLIS CLEARING HOUSE Clearings ..| . «+ $2,318,000 a ein TRa78,000

Listed FL pygeE allowed to vote will have to take a

countant, he will have to knock off from .every other occupation and follow Ciovernment balance sheets to. keep from being fooled. For the last five years many bilHons have been spent. But we have been assured that it was not really as bad as.it seemed because a lot of this money was “invested,” loaned

He out on riotes, put into the stocks of

various public and private corporations. After a fashion that was e. But how good those loans were, whether we would ever get an back for those ngtes and stocks was not mentioned. All this junk was bunched together as “Government assets.” Ld , Mr. Jesse Jones of the Reconstructioh Finance Corp. has just been telling us something about the business; of that ‘concern. all be reduced few simple facts. They ere worth the attention of every citizen. y. 5 | Issues Monthly Statement To begin with the RFC was provided with Government funds to the extent of $4,553,000,000. - All this

m out” by the RFC to various agencies

porations, states and cities. At the end of every month the Treasury issues a various Government

heading is “Assets of

wise he can never follow what his Government around with billions which the citizen But even if he is a public ac-&—— -

It can’

oney was supposed to be “loaned | —banks, railroads, Government cor-|

statement about

xMarket St. Investment Corp.. 23.67 xEx-Dividend.

Flynn Questions ‘Assets’ as ‘on Treasury's Books

T. FLYNN

Times Special Writer NEW YORK, Dec. 22.—If this thing keeps:up,

every citizen who is course in public accounting. Otheris doing as it plays is expected to dig up. :

amount to the sum of $4,533,000,000. But now Mr. Jones tells us that practically all the money loaned to Government agencies must be called a dead loss. He is about to introduce a bill into Congress directing that all the “paper,” all the notes and stocks representing loans and investments in -Government corporate agencies be called in and canceled—written off as a loss. And how much do you think this is? Mr. Jones puts: it at $2,675,000,000. Plenty of Kinks, Flynn Says Out of $4,533,000,000 of assets,

tained as such. Mr. Jones says the RFC is about to write off 59 per cent of its assets as a complete loss. This avowal was wrung from the RFC director because of an attack on the RFC’s bookkeeping methods

are plenty of strange kinks in all the ‘Treasury's bookkeeping , If that bookkeeping is ever straightened out there will be plerify more wiping, out-of assets of Government corporate and other

- What the loans and investments

+090 Geén Ry +0.69| Gen: —2.14 1

000000000000 io vd 5

100.7 |

100.2 |

he. following aiiotations do not repre-

d Asked |!

only $1,878,000,000 are to be re-|g

made by Senator Byrd. But there|

ww! Bo i 1

tv 1

Harb-Walk .... Hecker Prod ... Herc Mot Holland Furn . Homestake .... Houd-Her B ... Hupp Motor ...

[11 Central ..... Inland Stl [nspiratn Cop . er R T

[nter Iron [nt Agric

nt Hyd ok Int M Marine . Minin

Int P&P pf ..

Jewel Tea Johns-Man ....

Ts 8% 2

[nt Harvester . 707% El A . Th [nt Mining .... [nt Nickel ..... 4 31% |

50% 88%

High vee 23 ve. 28Ya

27s

L4H]

0 1% 5

+H] ++

SELL

. . . .

bibl SFE EE EE

4%e 8% 7 8%

Li: +H

oe &&

ie Joo

50% 88%;

—T

Kaufman DS .. 17 Kennecott 39%

Kresge SS Kroger G & B .

Lambert ..... 3

Lima Loco . Link Belt Lig Carb Loew's Lone Star Cem .

Lorillard Lou G&E A ... Lou & Nash .. Ludlum Sti ...

93.1 N

Shio ol ver Far Omnibus m 2 Otis Elev

2 Owens Ill Glass 69 \

Pacific Ltg soa

13% 30%

15%

12% : 1714

Loose-W Bis ... 1

ow» 2

Tims tet CIO ae NRo= D0 NOD SERRE SNS

1s 030 IOIDD Bint bt bu tt SOU 1 ret it Em SO REO © RS RSS

-3 ® FR

Ft No 00 -»

8%. 137 —C 13} 34

8% 25% a

. 3 Pac, West Oil...

Packard

Reyn I Richfiel

vel Inc .... Sharon S H pf. Sharp & D ... Shattuck ...... Shell Un Oil .. Simmons . Snider Pkg ..

rand Brands C Tob G .

r one & Web . debaker .... Sunshine Min. uperhtr ..... Superior Oil .... Superior Stl... Swift & Co.... Sym-Gould xw.

Tenn Corp .... : Texas Corp ...

Tex Pac 'L T..- 8 ide W A Oil.. Timk-D Ax 2

Transamerica . Tri

Bony Vasu 3 0 Ca. 1 221, Ry cobs fi 14 Eo hE oi 23%, cts ae pf. 106% cern. Vp

1% | liquidation : - Principal portion of the company’s’

PH]: HE pee ww

Th : aes

| =

° .

a SSE

FEI LEHR

-t

LI: t+: LHL Bk iE

Cont 3 20th Cent-Fox. 21 30th Cen-Fox pf 27%

Union Carb . Un Tank ...

Vanadium . 16 Va-Car 6 plies. 35

Yale & T ...... 27

Yellow Tr ...... oung S & W. Young Sheet

Zenith Rad ....

Ww. 1812 . 42%

13%

ime Une

ve 78Ys es 33 :

SHITE LH ETT Eo

—— % 16 n 25 We

| +

HERP RRRRNE

aT “9% 15 3 — 13%

of the Times for

Closing Stock Quotations

See Final Edition

and Other Late News

FOR QUICK

stil | Bulut

USE

y ICT: ET

2 | today.

FRETS

A 2

2 =

AUBURN QUITS

“2! MAKING AUTOS

{Company to Manufacture Sheet Metal Products, Report Says.

NEW YORK, Dec. 22 (U. P).— The Auburn Automobile Co. has dis-

s | continued the manufacture of auto-

mobiles and is now engaged in the production of a - variety of sheet metal products, according to a notice .submitted to the New York Stock Exchange and made public

For many years one of the smaller independent producers of automobiles, the company now will make such products as washing machine cabinets, kitchen cabinet equipment, pressed steel sinks and a variety of metal stampings. fs ; : It also has a contract to manu{facture automobile bodies for another automobile producer. On Dec. 11 the company and its subsidiary, Lycoming Manufacturing Co. filed a petition for reorganization under Section 77-B of’ the Bankruptcy Act, largely the outgrowth of a falling off of some 40 per cent in sales of the Auburn line of cars in 1936. Many of its important plants recently were sold and several of its subsidiaries are now in process of

plant at Auburn, Ind, recently was sold and its subsidiary, Dusenberg, Inc., now in the process of liquidation, also has sold its plant and equipment at Indianapolis. The parent company was incorporated June 25, 1919, in Indiana as successor to a company of the same name, organized in 1903 and outgrowth of a business originally established in 1874 as the Elkhart Carriage Co.

MASS MEETING OF UNIONS IS CALLED

Parley to Discuss Plans on Coping With Recession.

Walter Truman, Industrial Union Council president, today called a mass meeting and conference of all labor ‘unions to discuss plans to “protect and safeguard union members who are experiencing difficulties

and hardships as a| result of the present business recession.” The meeting is to be held at 8

% |p. m. tomorrow at the C. I. O. Hall,

9241 W. Maryland St. Alex Gordon, Indiana Labor's ‘Non-Partisan League chairman, is to speak on unemployment compensation. Mr. Truman urged all union members, regardless of affiliation, to attend. He said the council. is ‘“determined to. protect its membership.” He suggested that member unions appoint committees to register and determine the needs of its members and to represent the needy persons

cure adequate relief and employment. - : “The State of Indiana,” he said; “has a responsibility to its citizens who had jobs, were willing and able to work, but who were laid off and

yond their control.”

PRINCESS ELIZABETH

LONDON, Dec. 22 (U. P)— Princess Elizabeth, heir presumptive to the throne, stood up in the royal box, drummed her fists on the

% |side of the box and booed lustily

last night in her excitement at the machinations of the wicked uncle in » play, “Where the Rainbow Ends.” The wicked uncle seemed just about to lead the children into the dragon king’s evil woods whén the

rose and registered her protest. Happily St. foiled the plot.

England

at all public relief agencies to se-

successively, Minister for Education

are now unemployed for reasons be-|

BOOS PLAY’S VILLAIN

t would make one more pict:

usually prim. ll-year-old Princess | George arrived andj

Hopes

Sees German

Top: Viscount Halifax Watches Hitler's Goosesteppers of 1937. . . Bottom: . . . as Viscount Haldane Saw Kaiser’s Goosesteppers of 1912

2 =»

37 Mission

To Reich N ot Prelude to War

LONDON, Dec. 22 (NEA) —Englishmen, remembering their country’s story for the past quarter of a tentury, are anxiously asking themselves whether the recent mission of Viscount Halifax to Germany will be the prelude to war just as was the mission of Viscount Haldane in 1012. Then, under a Kaiser, as now ¢&—

under a dictator, Germany was in a dangerous mood and had all Europe in sg tension. : Then, as now, Germany, herself allied with strong military powers, was anxious to have England isolate herself. In 1912 Germany's allies were Austria-Hungary - and Italy. Today they are Italy and Japan. Germany did not like England’s ‘link-up with France in 1912 any more than she does today, espe= cially as France is allied with Russia of the Soviets today as she was then allied with Russia of the Czars. Vexed by Naval Building

Then, as now, there was:-a burning question between Germany and England. In 1912 Germany had England worried by her .enormous naval building program, seeming to challenge British supremacy at sea. Today Germany has England worried by her insistent demands that former Africar. colonies be returned to her.

In 1912 Viscount Haldane, a very.

distinguished man, was sent to Ber-: lin to.“explors” the situation, just as recently Lord Halifax, another distinguished man, has been “ex. ploring” the situation.. Haldane faced Kaiser Wilhelm II and failed. Halifax has just been facing Hitler. and nobody knows yet how completely he has succeeded or failed. In 1912 the Germans were build

ing up a great war machine. The!

situation became so threatening that the British Goyernment decided to send Lord Haldane—a Scotsman who was equally distinguished as statesman, lawyer and philoso= pher—on a special mission to Berlin. Haldane brought back to London the definite news that his mission had failed. The Kaiser and his men were determined upon the building of three new battleships, the creation of a third battle squad-. ron and a great -increase in enlistments. The international race: in armaments then began in earnest. Efforts Belittled When the war broke out in 1914, Lord Haldane unjustly fell under a cloud. His Berlin mission had failed. Sensational papers claimed he had said Germany was his spiritual home. ‘He ‘was treated almost as if he were a traitor. He| was hounded. out of the ‘cabinet. He lived to see the day when Lord

Haig, triumphant leader of the British armies in France, paid him tribute as the greatest Minister for War England ever had and the man who largely made England's {riumph possible. Later Re became Lord Chancellor in the Socialist government of the late Premier Ramsay MacDonald. ; Lord Halifax, (who lately undertook a second history-making mis-. sion to Germany, has hit thé high spots in life for most of his career. Son and heir of the second Lord Halifax, he was elected to Parliament. in 1910, served in the World War with distinction, became Under~ secretary for Colonies.in 1921 and,

and - Minister fof 'Agricultuse. In 1926-31 he held the great post of Viceroy of India. Since then he has been Minister of Education, Min-

ister of War and is at present in

the cabinet as Lord Privy: Seal.

Hn r—— -

MARLENE ALTERS PLANS

'. HOLLYWOOD, Dec, 22 (U. P.).— Marlene Dietrich,: who said .she Wo! re with Paratnount; before ‘deserting Hollywood « studios, has changed her After a conference with Adolph Zukor, Paramount board chairman,

‘the blond German star agreed that the picture would be “postponed in-

definitely.” She had permission to perform. elsewhere. | 3

LOYALISTS ANNOUNCE

Claim Greatest Victory. -of .. Spanish Civil War.

(Copyright, 1937, by United Press) HENDAYE, FRENCH-SPANISH FRONTIER, Dec. 22.—A few hune dred desperate Spanish Rebgls, dee termined to die rather than sure render, held off thousands of Loy=

thick walls of a few buildings “in ‘Teruel today, challenging to the end ‘the greatest Loyalist victory of .the Gviiwar. ~~ The 18th Loyalist Militia Brigade smashed into the main defenses” of the city, key point of the Rebel salient in northeastern Spain,;.at|6 Pp. m. yesterday, There was a.fourhour fight which must have been one of the grimmest in recent. history. The weather was so cold that tanks were frozen and men dropped exhausted. The snow-covered streets of the ancient city were stained with the blood of hundreds. At 10 p. m. the Rebel defense was broken and the Loyalists announced .-the capture of the city.

This ‘morning, in the old quarter of the central part of Teruel, dGesultory rifle and machine gun firing told of the brave last stand of the Civil Guards, the national - police force who are the toughest ‘men ‘in Spain, against the Loyalists. 'They took an oath some days ago to keep Teruel or die in it. i There seemed no doubt, however,

was the victory announced officially and jubilantly at Barcelona, the emergency capital, and Madrid, but the Government said it would start foreign newspaper correspondents to

1 the city today so they -could observe

the fruits of victory for themselves.

WIRING BLAMED FOR“FATAL HOTEL BLAZE

State Fire Marshal Clem Smith reported today that faulty electric wiring was responsible for "the Greencastle hotel fire which resulted in the loss of one life and injury to several others yesterday. 2 Several months ago the hotel proprietor was instructed to rewire-the building, Mr. Smith said. Rewiring was done improperly, he added. Mrs. Louise Keukelinck, 46,- of Mishawaka, was killed in the blaze. Mr. Smith sgssigned - Joseph J. Scherer and Gordon Shearer of his staff -to investigate. aa Mr. Smith said the tragedy may bring more rigid safety requirements for small hotels and tourist camps. 2 -

20 BURIED IN CAVE-IN

FORLI, Italy, Dec. 22: (U. B).— Twenty persons were feared Killed

dieval castle at Cusercoli which caved in during the night.

SINGLE TAXER DIES. ..: - MOBILE, Ala., Dec. 22 (U. PJ.— Erhest B. Gaston, 76, founder ~ of Fairhope, single tax colony and-Mo= bile Bay Resort, died here last. night after an illness of several weeks. He was_secretary of the Single Tax Corporation until illness forced -his retirement about a year ago. 1’

INDIANA LAW SCHOOL

(Of Indianapolis) Established 1894 DAY AND EVENING DIVISIONS] Write or Call Registrar 203-354 State Life Bldg. RI

Court and the American Bar

‘omplying with rules of the Supreme

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Sra

CAPTURE OF TERUEL °

alist shock troops from behind the ¢

that. Teruel was Loyalist. Not only

today, buried in the ruins of a me- |

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