Indianapolis Times, Indianapolis, Marion County, 21 January 1938 — Page 16

PAGE 16

ONLY FRACTIONAL NGES ARE MADE...

ON NEW YORK MART:

Mail Order

Make Small Gains.

NEW YORK, Jan. 21 (U. P.) .—Stocks moved irregulalry in dull trading during the morning today. Most changes were fractional. U S. Stee lat noon stood at 60%: off 15; Bethlehem 64, up %; Chrysler 61%. unchanged; Genural Motors off 15; American Can 821!z, up 21;: American Telephone 146's, off 15; du Pont 11912, up 1? Loew's 5014, off 35; Westinghouse Electric 106, unchanged; Atchison 39, up 4, | and Consolidated Edison 233, off 1s.

ara oil7s8,

United States Rubber was strong, !

the common rising to 31%, up 17s, and the preferred at 623%, up 23 Mail order issues registered slight | gains. Oils were fractionally high-| er. Copper shares, weak at the] opening, recovered part of losses] that ranged to more than a point in | Anaconda. Ingersoil Rand lost 4 points to 0 ntwo transactions. Homestake Mining and Owens Illinois were down two points. Inland Steel | and International Business Ma- | chines gained more than two points. | zn =» ®

d'oday’s Business At a Glance

GENERAL BUSINESS

Dun & Bradstreet reports retail | trade this week 1 to 4 per cent over last week and 2 to 8 per cent over | vear ago; wholesale, 3 to 8 per cent over year ago. Federal Reserve reports gold | stocks this week unchanged at $12,755,000,000; excess reserves of $20,000,000 to $1.370,000,000; circulation off $49,000,000; brokers loans off $28,000,000; ratio unchanged from last week at 80.1 per cent vs. 50.4 | year ago.

CORPORATION NEWS vear ended |

| lots | steers

Bastian-Blessing Co.

Nov. 30 consolidated net profit $456,- | 3

180, equal to $2.42 a common share vs. $390,211 or $2.04 previous year. Freeport Sulphur Co, 1937 liminary consolidated net profit, 3 703,742, equal to $3.30 a conminon | share vs. $2,009,784 or $2.43 in 1936; December quarter, $724382 or 89 | cents vs. $499273 or 61 cents year | ago. | Julius Kayser & Co. and affiliates | 1937 final half net income $304,860 vs. $477,353 year ago. Market St. Ry. Co. and South San | Francisco R. R. & Power Co. 12| months ended Nov. 30 loss $135.060 | vs. net income $294,199 or $253 a | 6 per cent prior preference share | previous 12 months. Oklahoma Natural Gas Co. year ended Nov. 30 net income $1,578,437 $929,867 previous year. Owens Illinois Glass Co. 1937 official estimated net profit $9,315,000 | equal to $3.50 a share vs. $10,099,131 of $7.59 in 1936. | Sunshine Mining Co. 1937 prelim- | inary net profit $5.401.457 equal to | $3.63 a share vs. $3,909,074 or $2.62! in 1936. i Texas & Pacific Ry. Co. 1937 pre- | liminary net income. $2,440,627 equal 0 $3.24 a common share vs. $2,263,973 or net |

W | | } |

| { '

$2.78 in 1936; December income $66,122 vs. $308,929 year ago. United States & Foreign Securities Corp. net assets Dec. 31 about | $146 a first preferred share vs. | $269 year ago. United States & International | Securities Corp. Dec. 31 net assets $108 a first preferred share vs. $175 year ago. DIVIDENDS

Federal Knitting Mills Liquidating $10 payable Feb. 1 record Jan. 24 vs. like payment Dec. 20. Julius Kayser & Co. 25 cents on | common payable Feb. 15, record Feb. 1. In 1937 company paid four dividends of 50 cents each 2%. 15, May 15, Sept. 1 and Nov. 1

New York Fire ho Co. | extra 5 cents and regular quarter- | ly 20 cents payable Jan. 29, record Jan. 24. Owens Illinois Giass Co., 25 cents payable Feb. 15, record Jan. 30. Payments in 1937 were $1.50 on old stock Feb. 15, 75 cents May following 15 and 75 cents Nov. 15. (Copyright, 1938, by United Press)

N. Y. Bonds

By United Press BOND PRICE INDEXES 20 20 20 Inds. Rails Utils. RN 64.6 91.0 Week Ago . 828 68.4 55.4 Month Ago .... 81.5 73.3 94.4 Year Ago . 950 101.1 105.9 Two Years Ago 92.6 88.9 1049 1937 High 3 101.2 106.0 193% 69.3 92.3 1936 100.4 106.2 1936 84.7 103.5 1935 86.4 103.6 1935 Lo 89.3

60 Bonds Yesterday 80.3 £3.0 100.5 93.

100.

100. 93. v3 83.

High

S I TA

YORK, Jan. 21 lower.

NEW opened irregularly - t Fe Charge 04

hil & Rea Third Ave $e adi 60

CHICAGO PRODUCE

Eggs—Market, weak: receipts, 7930 cases: fres raded firsts, cars, 20%2c; Cars, oe: extra firsts. cars, 2lc; cars, 20° e: checks. 16c; dirties, Te receipe. hg unsettled: receipts, ter—Marke Duties ¥ extra firsts (90-91! (92 score), 32 seconds. 286 30c; 5, 33126 34c unsettled: receipts, geese, 19¢: hens, spring chickens, 22@23c: broil"20c: turkeys. 18@24c; leghorn hens, Fryers, 21@22c Supplies liberal: demand, i market. dull; Idaho Russet Burbanks, [email protected]: Colorado Red McClures. $1. 421561 1.45: Wisconsin Round Whites, $1; Michigan Russet Rurals, $1.0 New Stock—Florida Bliss Frrimphs. per ! pushel crates, $2; Tex Fa Bliss TLIAmphS. per bushel crates, $1.90 No. 2, $ Arrivals, 63; on ArGk an; Shia.

3,@33c;

| Issues|

6 |

Glass |

| weighty | $6.75.

mostly

| An

| Cull

15 | 2-for-1 split-up, $1 Aug. |!

82.2}

(U. P.).—Bonds

| 180- 170 1bs., s

less than | less than |) 17¢c; cur- |

827.- | 24( 2 Score), |

stand- | 19 |

Porker Prices Up 20 Cents on Local al Market

Despite increased receipts of hogs | at major markets prices advanced at most points. However, a gain of 20c here at Indianapolis was larger upturn than reported at most |

Agricultural Economics of | United States Department of Agrij culture, Averages of 150 Ibs. and

heavier rose 20c above figures while a relatively small quota scaling below 150 lbs. ruled | 15¢ higher, The top again was realized on 150 to 170-1b. weights, these making | $9.20. Packing sows sold 10c to 15¢ ..| better than Thursday, heavies at | $6.35 and $6.50 up to a practical top 0 $7 for lightweights on the butcher order. At mid-session orders | were adequate to cover the entire supply and the yards seemed well lon the way to a complete clear- | ance: A dull week-end clean-up trade in the cattle pens found buyers out to save enough on steers and heifers to cover carrying charges.

| These cattle usually have to be heid

kill. Odd plain and medium grade and heifers ruled weak, against small declines this week. A range of $6.50 to $7.50 took the steers while a car of good heifers went around $7.25. Other heifers were

until next week's early of

mostly too Cows were not changed but bulls ruled strong, making for an advance in bulls of 25¢ for the past | two days Top sausage heavies ‘reached $7 sparingly. Cutter grades of cows continued at $4 to $5. Country feeders took a load of good 675lb. veariing steers in good flesh at $7.50. Vealers were steady, with good and choice from $11.50 to $12. Fed western lambs cashed 10c | lower, 25¢ lower, good and choice $7.50 to $8.

HOGS Receipis

ag !

Barrnws and Gilts— (140-160) Good and (160-180) Good and (180-200) Good and (200-220) Good and 1220-250) Good and (250-290) Good and 1290-350) Good and Packinr Sows— (275-350) Good (350-425) Good (125-350) Good 75-550) Medium’ SI tet er (100-140) Good and choice. . Medium CATTLE

—Cattle, 400— Steers—

(750-900) Choice . (900- 1100) Choice (1100-1300) Choice (1300-1500) Choice (750-900) Good 1900-1100) 1100-1300) (1300-1500) (750-1100) (1100-1300) (750-1100) Steers and (550-750) (550-750)

choice. .

339939) hd

3d —

Medium Medium Common Heifers—

ANIDODD= OD ND IDTV DIT] NDNONODLNnNnwUw

8933

12° -

Heifers Choice Good Medium Common

(750-900) (550-900)

Weights— Choice Good Medium Common . Low cutter and ‘cutter Bulls Yearlings excluded (all Gong be (All Wein) ‘Medium Cutter and common

weights) — Nove 36

—Receipts, 400— (All weights) Choice (All weights) Good (All weights) Medium and common

Calve —Recomts. 400— (250-400) Choice . (250-400) Good . {o30: 400) Medium 250-400) Common

Feeder and Stocker Cat Steerse— (500-800) Choice (800-1050) Choice (506-800) (800-1050) (500-1050) (500-1050)

| Heifers—

(500-700) Good and choice.. Common and medium SHEEP AND LAMBS —Receipts, 2000—

| Lambs—

Ewes Good and choice . Common and medium ......

CHICAGO, Jan. | ceipts, 23,000, Ket, uneven, $8.75: bulk

21 (U. P.).—Hogs—Reincluding 8000 directs: marstrong to 10c higher. top, : good and choice 150-200 Ibs.. $8 507 8. 85: comparable 210-260 Ibs. $7.80 @8.50: 270-325 lbs., [email protected]; good medium weight and heavy sows, $6.50% 6.75 Cattle paecelpts, 1500; calves, 500; cows, vealers and bul fairly active and steady: other classes slow, draggy with narrow outlet: supply on sale small but demand very indifferent; indications point to some carryover: best steers offered $8.75 around i 1289 Ibs.: few sales to some inter>sis. $6.50 @8: heifers, $6@ 7: bulk fat cows. $5.50 | 6.25: cutters, $4.25@ 5: sausage bulls. up to $6.75; vealers. $11 down. Sheep Receipts, 10.000; no directs: market on fat lambs slow. around steady: sheep. 25/@40c or more off; bids and sales on fat lambs up to [email protected]; 34 down on

slaughter ewes. CINCINNATI, Jan. 21 (U. P.).—Hogs— Receipts, 2800, including 200 direct: marKet, active, 15@25¢c higher; top, $9.25: 200225 lbs., $8.75: 100-140 lbs. $7.90 8.65: bulk good packing sows, $6.25 6.50 . Cattle—Receipts, 450; calves, 400: market, slow: steers, yearlings and heifers. | weak to 25c¢ lower: odd head around 1000- | Ib. steers to $7.50; few small lots around | 600-1b. light heifers to $8: good beef cows | eligible around $646.25; Practical top | sausage bulls, vealers, wegk t

$7. lower: top. $12. Sheep— Receipts, 150, including mone direct; only meager Sxoply on offer early: quoted steady ZOO! ative ewe and wether lambs eligible from $878.50; com mon and medium grades, s$6@7 slaughter ewés, mainly Jas LAFAYETTE, Jan. 21 Hogs— Market, 20c higher; bulk 150: ‘160 Ihe.

; 190 | 1bs., | $8.35; 50 | $8.05. , $7.90: "260. 270 Ibs. 270-280 lbs., $7.60: 280-290 Ibs.. $7.45 300 Ibs. $7.3; 300-325 Ibs., $7.20. Pigs. down. Roughs, $6.75 down | Calves, [email protected]. FT. WAY

$8.75

15a 30° cents higher; '180- 180 1ibs., $8.90:

| 350 Ibs. $7: Ibs., $8.75: { Ibs., 100-120 5 Roughs, stags, $5.25; $12; $7.75

| ....FOOD PRICES

calve: es, lambs,

CHICAGO. Jan. 21 P.).—Apples— | Michigan McIntosh, sc orei. 25, Batons nessa, “bushei | : Carrots—Illinois, | 2 atl ata, bushels, 0 toes—Mexican Jugs. [email protected]. Cauliflower—California, crates, 5: [email protected]. Peas —~California. hampers, Te: | Michigan, flat Lig 1.154 (street sales) lorado gialencias, $1.42%,

a |

centers, according to the Bureau of | B the | B

Thursday | C

for the demand at $6 to]

top $8.15. Native lambs moved |

0 | | Carnegie Met ....

THE INDIANAPOLIS TIMES

Net Last Change 1 He Allegh Cor + guis Chal P

Can . Car &F . Chain & C. 17 Crys Sug ..

m Zinc Anaconda Armour Ill Atchison Atl C Line . Atl Refining .. Atlas Corp pf.. Auburn Auto Aviation Corp. Balt & Ohio... Bendix Avn . | Ben Ind Loan’ . | Beth Steel Beth Steel 5 pf. Boeing Air ....

heonaian 2c. Calumet z

C . Gort Foundry . | Briggs Mfg .... Bucyrus-Erie

| Com Solvents | Cons Edison ... Cons Oil . Cons Coal pr 1 vt Cont Bak A.. 1 Cont Can 4 Cont Oil Del. Crane Co ...... Crown Cork ... Crown Zeller .. Crucible St .... Curtiss-Wr Bn

rR Curtiss-Wr 17%

Deere & Co... Diam T Mot... 2 Dome Mines ... 57'2 Douglas Air . 45; 45; Du Pont wee 118% 118 Ee 20!

23% 1

32% 8; 2 57%

Elec Auto-L ... 202 Elec Boat ..... Elec Pwr & Lt.. Eng Erie

ves Va . 183% 27

Flintkote Foster Whi Freept-Sul lye Gen Bronze .. 4% Cable .... 11% Cable A.. 22 Electric... 43'2 Foods .... 33 Motors Rty & U

Goodrich Goodyear. Graham- Paige Granby .. Gt North pf_.. Greyhound Cp Greyhnd 5'2 pf

Herc Mot

Homestake . 633%

Rand. 78 1334 1234

Ingersoll Inspiratn Cop.. Inter Iron .. Int Agric 33 Int Business M ‘15412 Int Harvester.. 663 Int Mining Int Nickel

Johns Man ....

Curb Stocks

By United Press

NEW YORK, Jan. 21 (U. P.). stocks opened irregular,

Brazil T L&P

— Curb Net

Wright Har ...

LOCAL ISSUES

(By Indianapolis Bond & Share Corp.)

The Jollowing quotations do not represent actual bids or offerings. but mereiy indicate the approximate market level based on buying and selling inquiries or recent transactions. PONDS Bid

Asked (TH) 4's 61 ... 104

Citz Ind y 105

Tel

o 5s 60 Ind Railway Inc 5s 67 cee Interstate Tel & Tel 5bs 53 .. Indpls Water Co 3'4s 66 + TIO Kokomo Water Works 5s 38 .. 2

Pub Tel 4 ns Teas Ren W W 5s 57 Seymour Water Co 5s 49 1 TH Trac & L 5s 44 . 102 T H Water Works 5s 56 T H Water Works 6s 49 Trac Term Co 5s Sor

Hook Drug Inc com Ind & Mach 77 Ind Gen Serv Co 67% Ind Hydro Elec 77% pfd Indpls Gas com Indpls P & Lt pid 6% Indpls Pwr & Lt Rid 6% Indpls Water Co oid 5% Lmcoln Natl Life Ins Co ¢ P R Mallory N Ind Pub ecw "eo pfd 5? N Ind Pub Serv pf 6% N Ind Pub Serv 7% Pub Serv of Ind 67Pub Serv of Ind 77% Progress Laundry Co com Terre Haute = ng 6% Union Title Co Van Camp Milk Go pfd’ Van Camp Milk Co com (By M. P. Crist & Co.) xMarket St. Investment Corp.. 23.76 xEx-Dividend.

BANK. STOCKS

Bank of Mahnattan Bankers Trust Bank of New York Trust wee Brooklvn Trust Central Hanover

| Chemical | Commercial Continental orn Exchange Empire : Se First National Guaranty Irving as vee Manufacturers National City Nev oon Trust Pub he Saimrantes

DAILY PRICE INDEX

NEW YORK, Jan. 21 (U. P)— Dun & Bradstreet's daily weighted price index of 30 basic commodities, compiled for the United Press (19301932 average 100): Yesterday | Week ago Month ago Year ago

fees

116.32 verses Teese 116:22 Cesveeeweeeeeenens H1T.14 weave ree 141.74 1937-8 high April 5 .......... 158.26 1937-8 low, Jan. 3 vores 114.69

LOCAL PRODUCE

Heavy breed hens. 4!'2 lbs. and up, 18¢; under '4'> 1lbs., 14c; leghorn hens, 12c: heavy springers, 1!. lbs. and over, 18c: leghorn springers, 114 Ibs. an dover, 15¢c; heavy stags, 13¢: leghorn stags, ie "bareback broilers, 15c: old roosters, Eges—No. 1 strictly fresh RT eg (Each full case must weight 55 The. gross. A net reduction of 15 cents for each full case under 55 lbs. will be made.) Butter—No. 1, 36% @37c: No. 2, 34'2@ 35¢. Butte at—No. 1, 30c: No. 2. 30c. (Prices Quoted by Wadley Co.)

tects sctessrsennsnnet

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

By United Press.

DOW-JONES STOCK AVERAGES 30 INDUSTRIALS Cee 132.33 131.84

+2.24

+0.24 —0.27 —0.37

Yesterday Week Ago Month Ago Year Ago 59 High, 1937-38, 194.40; low, 113.64. High, 1936, 184.90; low, 143.11. 20 RAILROADS

30.45 31.96

Yesterday Week Ago Month Ago Year Ago High, 1937-38, 61.46; low, 28.91. High, 1936, 59.89; low, 40.66: 20 UTILITIES

21.04 21.80 21.1% 36.94

Yesterday Week Ago ... Month Ago .... Year Ago .... High, 1937-38, 37.54; low, 19.65. High, 1936, 36.08; low, 28.63. 70 STOCKS Yesterday 43.25 43.80 42.52 67.60 low, 38.87. low, 51.20.

High Low 19 39's Sg 17%

Month ARO ......... Year Ago High, 1937-38, 69.67; High, 1936, 66.38;

Last oe 19 “oy 39%

Kan C Sou pf.. 19 Kennecott 39% -_— Leh P Cem ++». TY Leh Val RR... 13% L-O-F Glass .. 40 40 992 51% 3434 177%

+ 3

Lone Star Cem. Lorillard

23% 31

Mother Lode

Nash-Kelv .... Nat Biscuit Dairy

hy Distillers .

JHE ELE

++I

Ohio Oil 14 Owens Ill Glass 57

I+ +

Pac G & El ... Packard... ....... Paramt Pict ... Park Utah

Patino Mines .. Penney Penn R R . Pet Corp Am .. Phelps Dodg . Phillips Pet Pierce O pf Pitts Sc &

ga NaN Re

BD et BD wy “ID 00 ht BI me 4 DI LOND

V4 | +444:

B..

P44:

Fe On ‘oo a Nr

Reyn Spring... Reyn Tob B..

Safeway ...... St Jos Lead.. Sears Roe .

Std Brands ...

INVESTING CO.’s

Bid Asked Bid Asked 12.32 13. 330) yest, Bak Corps.

4.1 20.75 71

.63 5.50 28

Nw 4 w ~ Bt fk pk fk D3 et pt’ PARTIR BS DDB BDO ND-T WOO ede Neg

8 er

t DOW ~wWwww » — ab —~o®

— wo Waa — tn — -3 D

i. 27 5.16

. Stocks, Inc. Stks 8.26 6. 84

6.10 a3 ...1.33 A Tr 25.50 28. 30 Fidelity 18.91 20.3 Fiscal Fund, Inc.: Bk Stk 2.64 2. Ins Stk 3.33 Fxd Tr A 8.95 "B 7.10

Fd Tr A 3.85 Fd Iv Ic 16.22 ' Ir .A 4.66 "Tr B 4.33

17.24Spen Trsk 14. 8 5.25/Std Am Tr 2.50 -..|Std Util 51 Gen Cap 29.82 32.06, State St Iv

83 Gen Iv Orr 477 5.19'Spr Cp A Group Securities g B

1.03

Hur 1.98

ingh

EB Gio 1.26

U. S. STATEMENT

WASHINGTON, Jan, 21 (U. P.).—Government expenses and receipts for the current fiscal year through Jan. com pared with a year ago: This Year .$4,210,045,013.17 Receipts... 3, 3: 119,892.30 Son 8.925,121.41 . 0 a: 899,207.39 bal.. 1,187,165,853.78 Pub, ‘debt 37.417.471,340.02 Gold res. 12,755, 28 999.19 Customs... 299.478853.82

od Sale Total Pur X Spr 58 $1222, 970. 062. 69

27 De s 16.74 Spcurities Grp 1.20

Expenses

Inac. gold ..

INDIANAPOLIS CLEARING HOUSE

i $2.671.000 Gages 505000

SEC HEAD CAUTIONS STOCK EXCHANGES

NEW YORK, Jan. 21 (U. P)— William O. Douglas, chairman of the Securities & Exchange Commission, in an article in Collier's Magazine today warned stock exchanges to clean house or have it cleaned for them by the Government. : Analyzing the stock market situation, Douglas declared that “some forms of business must be regulated.” “We are now at the spot where the stock exchanges of the country and the SEC have got to come to a decision on where they stand with reference to each other,” he asserted. The SEC chairman said that Government should intrude in: the workings of business “only to the extent that business itself fails to perform its function and make its profits in a decent way.” “The problem as I see it is for the exchange to recast its rules and reform its procedure,” he said. “Somebody has got to do this— either the exchange or the commission. We would rather have them do it. But if they don’t— well, we will have to get on the job.”

NEEDS A SAFE DEPOSIT BOX/

AT INDIANAPOLIS

| BUY

1.40 | 12.49 13.43 |

93 | 14.33

NEW YORK STOCKS

| U

| New Zeal.

Net High Low Bast Change

Std Oil N J... 491% Stew-War . 1 Stone & Web. . Stikiebalcer

Oil Beri oil

Tenn Corp Texas Corp 42 : o Tex Gulf : 43 t 8 | Tex Pac L. T .. 9 ) | Tide W A Oil. Transamerica Tri Cont

Union Carb Un Tank Un Aircraft United Corp .. Un Gas Imp.. 1S Leath .... S Rubber S Steel 60

Vanadium 19 Va-Car 6 pf ...

Walker (H) .... 2 2 | 8 8

| Walworth

Warren Br .e West Air Bke . Wilson & Co ..

Yellow Tr + %

Zenith Rad .... 16

WHEAT PRICES MOVE IN MODERATE RANGE.

Corn Sows Wire Irregular Action |

On Chicago Market.

CHICAGO, Jan. 21 (U. P)—| Wheat failed to display any definite | trend during mid-day trading on | the Chicago Board of Trade and prices moved in a moderate range. At the end of the first hour wheat was sz cent lower to 7 cent higher, corn was !: cent lower to 4 cent higher, and oats were % cent lower, Small rallies in wheat encountered scattered selling, partly induced by the flat export demand for North American wheat. Reactions met better demand, however, Some buying was encouraged by unimportant rainfall in the Southwest and.the firm market tone in Liverpool. Wheat receipts were 30 ; cars. Corn prices shared wheat's irregularity on mixed market news. There was only small activity in the secondary grain. Corn receipts were 129 cars.

LIVERPOOL WHEAT

(Today's U. S. equivalents sterling at $4.99'4).

March May .. July

based on Prev. Close $1.145g 1.14 1.14

Clos .es $1150 1.14%, erene 1.14%

ARGENTINE GRAIN BUENOS AIRES, Jan. 21 (U, P,).—Grain futures opened firm. Wheat—February, $1.10's, unchanged; C $1.10%, unchanged. Corn—February, 823zc, unchanged: May, 653%c¢, unchanged. Oats— Spot. 317%ec, unchanged. Flax—February, $1.37", unchanged: March, $1.37%, unchanged

WAGON WHEAT

City grain elevators are paying for Mo. | 2 red, 89c; other grades on their merits. Cash corn, new No. 2 yellow, 50c. Oats, 28c.

FOREIGN EXCHANGE

NEW YORK. Jan. 21 (U. P.).—Following are noon cable rates of major currencies:

Cable Rates oy 99 15-16

England (pound) E A 4.99 3-16 Re

Eng. (60-d. bill rate) Canada (dollar) . France (franc) Italy (lire) vee Belgium (belga) Germany (mark) Ger.(travel mark) Switzerland (franc) Holland (guilder) Sweden (krona) Norway (Krone) Denmark (krone) Australia ound) . Austria (shi ling) Czechoslovakia (koruna) Finland (markka). Greece (drachma). Jugoslavia (dinar). (pound) . (zloty)

+.0000% 4.00 4.00% Poland . “wl . Portugal (escudo).. Rumania (leu) Argen. (offl. peso) Argen. (unof. peso) (milreis)

Uruguay Mexico (silv. peso) Hongkong (dollar) Shanghai (yuan) India (rupee) Japan (yen)

PARENTS MUST CUI CURB BOYS WITH RIFLES

Juvenile Court Judge John F. Geckler today warned parents of children living in the vicinity of 4600 block Sangester St. that “they would be held responsible for children who have been menacing the neighbors with air rifles and 22caliber rifles.” A group of remonstrating neighbors today told Judge Geckler they hade been shot at and that they wanted something done about it. An 8-year-old boy brought into! Court admitted having a gun, but denied he shot at anyone.

VENUE CHANGED IN FINGERPRINT SUIT

Circuit Court Judge Earl R. Cox today granted a change of venue to the Chicago Jewelery Co., plaintiffs in a suit seeking to restrain the Safety Board from enforcing the ordinance which requires persons who pawn goods to be fingerprinted. He ordere dattorneys to agree on a location for the Sal, ae

| SLAV PLOT SUSPECTED

BULOGNE-SUR-MER, France, Jan. 21 (U. P.).—French police today arrested a Czech chemical en- | gineer suspected of plotting to assassinate a son of Prince Paul, first regent to King Peter of Jugoslavia.

KILLED BY WAGON TONGUE VALPARAISO, Jan. 21 (U. P.) — Herman Becker, 65, farmer living southwest of here, died yesterday of injuries received when he was struck by a wagon tongue.

‘Cost of Living

STATE BUSINESS GAIN REPORTED DESPITE SLUMP

Increased 3 Per Cent in December, I. U. Reports.

Indiana business gains during the

| first half of 1937 offset a December s| decline to register a volume in- | crease over 1936, the Indiana Uni-

versity Business Research Bureau reported today. Meanwhile, 2564 manufacturing land nonmanufacturing industries | reported a 6.8 per cent drop in em- | ployment and 11.6 drop in payrolls | last month compared with November, 1937. Cost of living increased nearly 3 per cent last month, the | Indi announced. Indianapolis retailers noted a | sales increase for last month over | November. Although employment and payrolls in most industries gained in December, the gains were largely the result of advances | among general merchandisers and apparel firms.

Prospects Less Encouraging

“The year 1937 closed with business prospects considerably less encouraging than when the year began,” the report said. “Conditions 12 months ago were more promising than at any time since the depression began. “In the face of many unfavorable conditions, progress was made dur-

| ing the first half of the year. The

business decline of December, 1937, was one of the most precipitous decreases ever recorded in such a

| short period, even exceeding that {of 1929.”

Employment gains for December were reported by several Indianapolis business groups. Included were general retail trade, 18 per cent; general merchandisers, 37 per cent; apparel, 17 per cent, and furniture, 3 per cent.

15 ARE KILLED IN WAR ON PHILIPPINE GANGS

MANILA, P. I, Jan. 21 (U.P.).— Renewing a campaign to exterminate bandit gangs, soldiers of the Philippine Army today besieged and captured Paudatao Cotta, Lanao province, killing 15 occupants of the Moro fortress. Four soldiers were wounded. The dead included two women who cowered in a dugout on which

| soldiers poured gasoline and then

ignited it. Col. Luther Stevens, American former constabulary commander, led the attack.

FAMILY AWAY, FIRE

DESTROYS RESIDENCE

Only blackened ruins remained today of the frame home of Thomas Johnson, 1610 Norman Ave. Perry Township, following a fire while the family was absent last night. Loss was estimated at $1000. Deputy Sheriffs Tony Maio and Lawrence Wilkins reported the blaze. Flames had gained such headway that Fire Department equipment was unable to save the home.

VAN DEVANTER TO TALK AT DEPAUW BANQUET

GREENCASTLE, Jan Jan, 21 (U. P.). —Willis N. Van Deevanter, retired justice of the United States Supreme Court, will be the principal speaker at the DePauw University almuni dinner here Feb. 4, it was announced today. The dinner will open a campaign to raise $1,000,000 for endowments. Mrs. Van Devanter, a DePauw alumnus, is chairman of the national centennial committee,

SUSPECT IS SEIZED IN EXPRESS HOLDUP

MICHIGAN CITY, Jan. 21 (U, P.. —Steven Rusnak, about 30, of Chicago, was expected to be returned to St. Joseph, Mich, today to face charges of holding up an American Express truck there yesterday and escaping with $374 worth of women's silk hose. Rusnak's alleged companion, John Rodell, 36, Chicago, captured here late yesterday, already has been turned over to Michigan authorities.

SCHOOL FUND APPROVED

WASHINGTON, Jan. 21.—Presi~ dential approval of allocation of $29,121 in Works Progress Administration funds to complete the repairs on Sugar Creek Township School, New Palestine, Ind., was announced today by Rep. Larrabee's office.

SAFETY VAULT

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‘That’s My Job, Keeping People in Clear,” Says John Milton.

By WINSTON MURRILL Times Special Writer JERSEY CITY, N. J, Jan. 21.— John Milton, who has been appointed to the U. S. Senate by Governor A. Harry Moore of New Jersey, for 25 years has been the “brains” behind many of the activities of Mayor Frank Hague of Jersey City. Good-humored, dignified, brilliant, this gray-haired attorney will go to Washington Monday and apply for the seat Mr. Moore resigned to become Governor. There has been much criticism of the appointment, chiefly because of Mr. Milton's long association with Mayor Hague and his enterprises. For a quarter of a century John Milton held public offices under Mayor Hague's patronage and during that time his law practice was so profitable that one year he made $300,000 besides his salary. He has been involved in nearly as many investigations as Mayor Hague. In fact, he has been questioned about the Hague political maneuvers and various politicalcommercial activities more often than the union-baiting Mayor himself. Almost Inseparable

Ever since the two young politicians joined forces in a municipal campaign in 1913 they have been almost inseparable. The lawyer gave the Mayor the legal advice that made it possible for him to develop and retain the political power he has wielded for so many years. From 1913 to 1922 Mr. Milton was corporation counsel of Jersey City under Mayor Hague. From 1923 to 1928 he was Hudson County prosecutor., Later he held other jobs | under Mr. Hague's patronage, including that of member of the Port of New York Authority. But in 1928, when Mr. Milton was reappointed Hudson County prose- | cutor, a protest arose in the Legislature because he was involved in a legislative investigation of the state banking and insurance department and the appointment was | not confirmed. Witnesses had | charged that Mr. Hague's associ- | ates were selling bank charters. The investigation finally revealed | that a lawyer had given Mr, Milton | $5000 to help get a charter for an East Orange bank. The lawyer testified he had split his $10,000 fee with the Hague lawyer. It also was charged that Mr. Milton had been permitted to buy stock cheaply in a newly organized Newark bank and had been made a director so that the bank could get a charter and some big clients.

‘Nauseating Details’

Mr. Milton, questioned by legislative committee about stock purchase, said: “I'll give you some very nauseating details about myself. “In the last five years I have paid $100,000 in income taxes, and in the first three months of this year I have made $90,000, $15,000 from my law practice and $75,000 from other interests.” At another point he said that, in addition to his $12,000 salary, he had made $200,000 in 1927 and expected to make $150,000 on the side in 1928. After lengthy questioning, he suddenly withdrew as a candidate, He has been involved in a dozen or more investigations, but always has got out of them. As a witness,

the this

Says SenatorKept Hague From Trouble

he reveals what he wants to re-| veal and nothing else. Dropping into the language of | Maye Hague, Mr. Milton said to- | ay: “I ain't never been arrested. ain't never been indicted. I ain’ never heen convicted.” “How do you keep out of trouble?” he was asked.

‘That’s My Job’

“That's my job,” he said. “Keeping people out of trouble. I know all about it. “I certainly know enough to keep myself out of trouble.” He said he didn’t know about any movement to keep him from being seated in the Senate. The Case Legislative Committee, which was investigating Mr. Hague in 1928-29 to learn whether the Mayor was profiting personally from “extravagance and inefficiency” in the County Government, revealed that John Milton had paid out $247900 for Mayor Hague in five years previously. The Mayor repaid

| | | | | | |

FRIDAY, JAN. 21, 1938 '

Arrested, Elect Who

Senator Milton

his attorney in cash, the committes reported. During this inquiry Mr. Hague was arrested for failure to answer rommittee questions and was sentenced by the Legislature to six months in jail for contempt. He was released on bail and the smart maneuvering of his attorney eventually threw out the charge against him. “That's my job—keeping people out of trouble,” laughed Mr. Milton,

HEARST PAPERS SIGN CONTRACT WITH GUILD

CHICAGO, Jan. 21 (U, P.).—Don Stevens, American Newspaper Guilt organizer, announced today that the guild had signed a contract with William Randolph Hearst's Chicago American and HeraldExaminer ‘protecting employees from dismissal and pay reductions

| for one year.”

The contract was signed after Guild members threatened to strike in protest against recent dismissals, “In addition,” Mr. Stevens said, “provisions were made for preferential rehiring of recently-dismissed | employees and for severance pay on a scale progressive to a maximum | of 26 weeks’ pay.” Emanual Levi, publisher of both papers, represented the manage ment.

WOMAN ARSONIST GETS 2T0 14 YEARS

WARSAW, Ind. Jan. 21 (U, P,) == A Kosciusko Circuit Court jury toe day found Mrs. Ruth Wrigley, 35, Monroe Township, guilty of first degree arson in connection with the burning of her father’s farm home near here Oct. 18, 1935. She was sentenced to serve 2 to 14 years in prison.

REED AT COURT DINNER WASHINGTON, Jan. 21 (U. P). —Solicitor General Stanley PF. Reed, President Roosevelt's latest nominee to the Supreme Court, attended the White House dinner last night given in honor of Supreme Court justices.

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