Indianapolis Times, Indianapolis, Marion County, 29 January 1938 — Page 8

PAGE 8

STOCKS SLUMP IN DULL DEALINGS ON. NEW YORK MARKET

Industrial Average For Week Down 10 Points.

NEW YORK, Jan. 29 (U. P.).—Stocks declined today in dull trading, rounding a week of recession in which the industrial average was depressed nearly 10 points. Steel issues bore the brunt of selling today on outlook for little improvement in the industry next week. The most important center —Pittsburgh—was scheduled to register a small decline in operations. Another indication of the situation was the action of United States Steel Corp. in announcing that, effective Feb. 1, the corporation and its subsidiaries would apply the share-the = work movement to “white collar” workers with salary cuts and reduced hours. There was no indication that big steel planned a wage reduction when it takes up negotiations with the C. I. O. next week. United States Steel sold off to 517%, off 1%: Bethlehem 433%, off 3, : Crucible 34%, off 3%; Crucible preferred 82, off 5; Inland 64, off 21; ‘and Republic 16%, off Is. Youngstown Sheet & Tube firmed > point. Nonferrous metal issues Were slightly lower. Farm issues came back in dull trading and International Harvester gained nearly 2 points. Rubbers were down. Mail order shares were mixed.

DOW-JONES STOCK AVERAGES 30 INDUSTRIALS SNR 120.18 —0.48 | 120.66 —0.91

Today Yesterday Week ago Month ago Year ago : High, 1937-8, “104. 10: Tow, 113.64. High, 1936, 124.90; Tow, 143.11. 26 RAILROADS PTR ERE RE 27.45 —0. 10 | 27.35 —=0.52 29.59 —0.01 Holiday 55.00 61. 16; low, 27.35. 58.89; low, 40.66. 20 UTILITIES

. 185.74 =1.00 |

Today Yesterday Week Month ago Year ago.. High, 1937-8, High, 1936,

19.06 —0.09 19.15 —=n.1% 20.58 —0.20 Holiday | 35.83 19.15. 28.63.

Yesterday

Month ago Year ago..... High, 1937-8, 31 54. Tow, High, 1936, 36.98; low, 70 STOCKS —0.10 348,700 128,700

‘ . 39. 39.31 —u. 10 42.43 —0.21 Holiday 66.02 0.32 low, 38.87. Tow. 51.20. =

Today Yesterday

Month ago. Year ®go ...... High, 1937-8, 69.6%; High, 1936, 66.38; & 8

242,130

Week ’s Business At a Glance

AUTOMOBILES—Ward's Automotive Reports: 59.365 units vs. 65,418 last week and | 76,620 year ago. BANKING -— Federal Reserve: Gold stock unchanged at $12,755,000.000; excess reserves $1,440,000,000, up $70,000,000; circulation off $52.000.000; brokers loans off $3,000.000; ratio 80.2 per cent vs. 80.1 last week and 80.3 year ago. Dun & Bradstreet: Week ended Jan. 26, bank clearings $4.896893,000 vs. $5214 937.000 previous week and $6.002,580,900 year ago. COAL--National Coal Assn. Weck Jan. 22 bituminous output 7.250.000 net tons vs. 9,632,000 year

ago. CONSTRUCTION «= Engineering News-Record: Awards this week $50,740,000 vs. $47,669,000 last week and $44,800,000 year ago. ELECTRICITY —Edison Electric Institute: Week Jan. 22 output 2,108,968,000 kwh. vs. 2,115,134,000 previous week and 2,256,795,000 year

ago. FAILURES —Dun & Bradstreet: Week ended Jan. 20 most for any week since Nov. 9, 1933, at 338 vs. 265 previous week and 163 year ago. INDEXES — Moody's Investors Service: Jan. 22 from

was unchanged

previous week at 77.7 per cent of | SOUpRY

1928 average vs. 102.7 year ago. Dun | & Bradstreet: Week ended Jan. 25 tood index low since Doze. 14, 1934, at $2.47 vs. $2.51 previous week ana $2.94 year ago. Iron Age: Week ended Jan. 22 capital goods activity 51.4 Por cent of 1925-27 average vs. 57.5 previous week and 93.3 year ago, LUMBER--National Lumber Manufacturers Assn.: Week Jan. 15 output by 513 mills 121,897,000 feet vs. 120,831,000 feet by 525 mills previous week; shipments 150,870,000 vs. 138,623,000, booked orders 160,842 000 vs. 155,454,000. METALS—American Bureau of Metal Statistics: December U. S. Lead shipments 34,020 short tons vs. 33.853 in November and 52,032 year ago; output 49.581 vs. 46,796 and 46,904; stocks end December 129,131 vs, 113,578 end November and 171856 year ago; 1937 total shipments 575, 933 tons vs. 513,361 in 1936; output 533,215 vs. 463,006; December world zinc output 161,606 short tons vs. 157,358 in November and 162,066 year ago; 1937 output 1849367 tons vs. 1650222 In 1936; U, S. December output 51,787 short tons vs. 49.393 in November; 1937 output 589,032. Ol ~American Petroleum Institute « Week ended Jan. 22 crude output averaged 3,506,200 bbls. daily, up 29,300 from previous week; gasline stocks totaled 82,785,000 bbls. vs. 80,947,000 previous week. RAILROADS «- Assn. American Railroads—Week Jan. 22 carloadings 570,333 vs. Lo oe previous week and 665,346 yea RATLROAD REPORTS Chicago. Burlington & Quincy R. R. Co. 1937 preliminary net $4,907,254 vs. $5,157.164 in 1936; December net $890,484 vs. $884 860 year ago; New York Central R. R. Co. December net operating deficit $976978 vs. income $1.779,938 year ago, 1937 net operat-

N. Y. Bonds

By United Press BOND PRICE INDEXES

20 Inds. . 80.0 . 80.0 81.6 80.2 91.8 . N38

Today ... Yesterday Week ago Month ago .... Year ago Two years 1937 1937 1936 1936 1935 1935 (Copyright,

20 Rails. 62.0 61.4 63.3 0.2 99.9 91.1 101.2 69.3 100.4 84.7 86.4 71.0

20 60

Utils. Bonds

23.0 91.9 93.9 93.5 105.3 105.1 106.0 97.3 106.2 103.5 103.6 89.3

11 MOST ACTIVE BONDS

NY Cent 5s 2013 58': Balt & Ohio 6s 95 33 Balt&O 4's 60. 2 Tl Cent 434s 66 203% South Pac 42568. 50 Balt&0 5s 9%... 29 South Pac 4s 55.. 75% Stand OiINJ3s61 10074 NYCent 4452013. 52% Grt North 4sH16. 85 So Rwy 6'%s 46. 18'%

Net Month Year Close Change Ago

+ Wu 3-2 + 1%

“

Hol. » MN ki

kb)

952

1067s

100

941%

105

U. S. GOVERNMENT BONDS

Treasury

Bonds

104 102.1

Federal Farm Mortgage Bonds

1947-42 1964-44 Home Owners

1949-39 1944-42

..103.30 103.30

101.17

Loan

103.30 103.30 Bonds

101.22 101.14

101.1

Federal Land Bank Bonds

3 34s

July 1955-45 January 1956-46 ay 1956-46

ay 1958-38 NSentoe 1958-38 DOMESTIC

4's

| Abitibi 5s 53 (M) Alleg Corp 5s 49 Alleg Corp 5s 44

101 103 1-16 .1

BONDS

High

Am & For P 5s 2030 oy I deb 5's es

+0.12 Ch

Det Edi 4s 65 Erie ref Bs 95 .... Erie ref 5s 67

Gt Nor 4s G 45.. Gt Nor 4s H 46 . Hous Oil 5'%s 40. .

Hud Man ref 5s 57.....

Ill Cen ref §

Output this week | jeg

eh V

Long Tsl ref 4s Lou

NY! C8 NYEdson Sips 66 NoRdon 3%s 65 .

enn Co 4s 63

Business activity week 4

u wy

Stan Qil Third Av adj 5s 6 Un Pac Ist 4s a United Drug 5s 53 U S Rubber 5s 47 y Co 3%s 66 Whash 5'2s A 75 West Union 5s 60

FOREIGN

Norway &

Peru 6s 6

Ad Funds 11.05 1 HER Fd 9

Com Cont! Shs Cp Tr Shs

3%832

”

SooRTATNES ron HN

Kove 5 yh CI uy EY st. 3 a:

Bed -

RI.

Py ors Baan

pp 2 45

oR ¥

—- tt

ing income $36.028.267 vs. $45278626 in 1936; New York, New Haven & Hartford R. R. Co. December net ig $1,168,451 vs. net income $511,-

i Tn to i

28823339

> -

” 2

2esatEeThes 33 303 2a 2a

RR i) Bh Loews Inc 3%s 46 ....

hio Edison 4s 65 ....

BONDS

JEG

Low

54 51

5912 6612

48 113 1055 3

1031 10742

10 641%

— BORRAIID NDT £ PAFERF

{| wo

INVESTING CO.’s

(By the New York Seuy oe 3s

m 12]

Pk pk pt SASS

Oo IRBBIBAR FZ pro ®

oh CORD CD TT Pi 03 LY Dt 19 Ht SS ipa Jet

gan

! ABD ID ARB”

| Seogasgael LBW:

. Hee Shs Cor ND pt Jot

3023323303433 vB, _~ Co 3

3 © WWW

-— DARI Wr BAS

TN 69. Rl. 100. 96. 100. 81. 100. 93. 93. 0 1938, Standard Statistics Co.)

Ago 1003,

10 5

103.30 103.30

101.22

Ask Yield 102% 102

FEN A25333

9 ‘ 6 3 0 4 7 1 2 3 1

—

| Gen

Net Close Change + 1

Adam

1 a pf S20 w 1 teel 15! len Indust ... 7% llied Chem ...158 ied Mills .... ied Stores 7 lied Stores ot Chal SS,

Sea

[= BB A ea pa — Nr

> 3 ACH oi ee

5 12]

RAW = ~ =

ATE 1

Anaconda ~ Armour Ill .... Arm Ill pr & on Armstrong Ck.. Asso Dry Gds..

Atl Refining Sn Atlas Corp . Atlas Corp pt] Atlas Tack .... Aviation Corp .

3ald Loco ct w Balt & Ohio ... Balt & O pf... 3arber Co 3arnsdall 3ayuk Cig Jendix Avn ‘ Best & Co...¢.. Beth Steel .. 3eth Steel 7 ped 3eth Steel 5 pf 3law-Knox .. . 3oeing Air Borden .. el Borg- -Warner

urlington MS 3uroughs Butler Bros . Butler ros pf. Butte Co Byers A

Cal Packing ... Callahan Zine . Calumet & H .. Campbell Wy Canada Dry ... Su Lacie

Gaterpitar T Celan Celbtex REEL Cent Aguirre Cent oundny .

a Pep Col Fuel & Iron Col Broadcast A Colum Gas Col Pictures vtec Com Credit Com Cred cv pf Com Solvents .. Comw :

oa A

ok pt Fo

WW AAS TNS

[nd 2000 10 + £3 x UND Bh Yt a OY

1 — -- PRE

oly “a a san GR So aT pf 4.50 1083, Crane Co 1 AR Eric SHDESW 0934

Bn vw BY . 44 va gS « 153% «1M

Curtigs-Wr cCurt-Wr A ... Cutler-Ham

f as Deisel W G D bag. & W... D & RGW pf.. Diam Match Dist Seag . Doehler D Cast Dome Mines

.. 110 Du Pont deb .. 3 35 Du Pont pf... 113% 113% ER 5% .. 182

East R Mill... Fast Kak Eaton nig oo1T% Eitingon Sch .. 3% Elec Auto-L ... 00 o's

Sov,

. 15% 1734 . 38

Lol oT

r+ VF

Eng Pub S.. 4 Equit Bldg 2% re. KE Erie 1 pf Erie 2 pf ... Fair Morse ....

Fed

Flintkote . Food Mach ‘ Foster Wheel .. Freept=Sulph

Sabin) A Gai

rrr > Owe a

— COC 29 BI 4 ~ >

oto 3° otors nt 115 By Adv . BH'% mk he

Pub Sv

LOCAL ISSUES

(By Indianapolis Bond & Share Corp.)

11%

The win ota fons do hot represent actual erings. mn me indicate the RRL market level based on buving and selling inquiries or recent transactions. PONDS Cit TER Tel SEY ) 4V%s 8

S08,

RA 8 5 hd pro hb

BES Tha wn]

8 87 In Natl hn A Sy

{ fv Co fd $a. 3"

Otis

Stock sales approximated 430,000 shares, against 410,000 a week ago. Curb stock sales were 76,000 shares, against 74,000 last Saturday.

Net Close Change

21 + 1% 1g

High Low oo 21 0, U 1% Va a 21 Ya Eq. 11 33 . ig 1s : y 9% 9%

Gen Ry Sig

. bl} 10%2 Ye 6812 67% —Y— a Ti pf.. 163% wrghl 1S

Intertype 10;

cena

Johns-Man

K Kaufman bs Kayser Jul .. Kelsey-Hayes

Kresge DS _.... Kroger G&B

L101:

Lerner Strs ... L-O-F Glass ... Life Sayers _.... & M

FELT: +411

vo 96 Losi SH.

Mack Tr ... Madison Sq G Man El mod rtd Shi ‘

Marshall Fld . Martin Gl “. Masonite Corp. . May D S we McCall Corp ... McCrory McGraw El ....

Mead Cp pf Melville Sh Mengel . Mest March . Miami Cop .... Mident Pot .... Minn Hny Minn-Moline ... M SP SSM ....

Mueller Br ... . Mullins Mfg 8B. Murray

Naz: Nash a

Acm 3 Biscuit, Cash Reg ) airy .... Distillers Gypsum Lead . a) Pwr & Lt Dig vy ; Sup Penn. 17 Na tomen 3 Newport Ind N_Y Central

NYC&StL pf .. N xg Omnibus .

on C

No Pacific re

Ohio Oi] . Oliver Farm Ea Omnibus .. Otis Elev Steel

Pac G & SI Pacific Ltg > Pac West Oil .. Packard . ™ Paraffine Paramt Pict ara Pic 2 of... ark Utah .....

Chicago Stocks

By United Press High

Low Close 3th 304

tpt @ Fa

ir ANTES

C Cor Comwlth "Edison Comp Ind Gas Elec Househd Fair (The)

BINS BEd RON WAI RA WDD ANNO NOLIN rt Od TB 1-3 A po : =

Pa Ft

By a ALI D a>

& -

A a

w Fa

— or - EAs aa

— Le JD DUI >

Signode ®t Sir, So Bend Lath Stan Dredging Stan Dred of Sunstrd Meh T.

ic BE

Aero Bi up 3 % Hy ev Cloze ronmbe: “ 2

Am Airlines . Am van B 2

Va '

FITE#IPVVTEFI):

I4el7:

RFI #) ++ +:

FINAL NEW YORK STOCK QUOTATIONS

By United Press

Net Close Change Va 1

High a

Parke Davis ...

- Wi

Pere Marquette 12 1 Peis Pet Cor: Am 1 s 3 } | preiffor ‘ 5 5 - ve | Phelps a | Phil Morris

Pitts United .. 1% pnoLth Oil 1

Postal Tel pis Press Stl Car .. Proctor & G oy

Se nat ] eliance Ms “ tn Ra ny 13 feptiblie 1 tevere Cop

ABD kt ht

- “T= IDO ITER JW DB NT

Rayonier Inc

Safeway

Wes INDO

| West | West

| Willys Willys

Skelly oil . Socony- Vactinm m Gold

: | U | U

| Wabash | Wabash | Waldorf Svs | Walker

| Woolworth

Twin Coach

Ulen & Co

High Trns & Wst alr 5% Wms 67

Und Ell Fish .. i B >

nion & P Union Carb Un Qil Cal n Pacific

Aircraft Cp. Air Lines ..

U S Rubber U U S Smelt S Steel

Un Stk

Ut'P &L

1 | Vanadium | Van _Raalte Va-Caro Ch

(H) Walworth

| Ward Bak Boo

Warner Bros

| Warren Br ; | Waukesha Mot

Wayne Pump . Pac Pac pf

West Union

West Air Bke ..

Overind . Over pf Wilson & Wilson

| Worthington

| Woodwd IronCo

South Ry pf.... Sparks With we Sperry-Corp Spiegel Inc

| Young | Young

| Zenith

Sterl Prod . Stew-War ™ Stone & Web .. Studebaker Sun Oil . 50 Sunshine Min . uperior Oil ... Superior Stl Suth Pan Swift & Co .... Swift Intl Syming-Gould

Texas Cor 3 Texas Gut Prod Tex G Sul . 303

dl THEE

PILI WITO VDI ~T

“

oe . 10% vo 41% . 10%;

nt Sow Wo- »

Transamerica 10%

OTHER LIVESTOCK

CHICAGO, Jan. 29 (U. P.).—Hogs—Receipts, 4000, including 3500 directs; marJet. steady at $8.80; only a few loads on Sa ttle Receipts. 200; calves, 100: market, steady: most fat steers and yearlings, 306 T0c oft: instances $1 on toppy vearlings and light steers. comman and medium grades, 25@50c down; bulk steers sold at $7.25@9; Epeciajties topped $11.50; best heavy heifers, oice heavy heifers, 25@50c er EDs, firm; bulls, 106 15¢ higher; vealers, $1 up. : heep—Receipts, 2500; market, steady; fat lambs, steady to 15c; spots, 25c lower. sheep, strong to 25¢ higher; practical top slaughter lambs, $8.30. yearlings, $6.50 7.25; slaughter ewes, $3.50@4¢.25, feeding

fianbs 25. CINOTNN ATT, Jan. 29 (U, P.) —Hogs— direct, no holdover:

rhe) tone: light supply. top, $9.15: rke stew 0 s vy. , $9.15: + | Bhochss V8 10: 100-140 lbs, $7.75@ 8.50. =~ 46.2516. 50. CatBe Receipts, 75. calves, i 625, ia 487

rs 29

di(U,

| 2 Ted, Bie; 9, | Cash corn new No 00- | 28¢,

$8.50 dow n; roughs, | $6.75 qown $10.50 |

CHICAGO ICAGO PRODUCE |

CHICAGO PRODUCE Bgas—Market, firm: receipts, Frosh praded firsts, cars, 18%c; less than | cars, 1815c. Extra firsts, cars, 19%c; less | than cars, 19¢c. Checks, 15'%c; dirties. | 5c, current receipts, 18c. 3 — Market, steady: receipts, 787.Extra firsts (90-91'% score), (92 w=core), 33c: firsts. | 298@30¢c; standards, |

pigs, env,

6700 cases

steady: geese. 19¢. 23@23'4z¢. leghorn hens,

dalsies,

Market. i 8c spring chickens : frvers, 21@23c, 18@ 24c Twins,

hens, broil19¢.

Chee 1614 @16'%¢; 1634 @17c; longhorns., 16%: 17¢c Potatoes—Supplies liberal, demand fair market, steady to weak Idaho Russet Burbanks. [email protected]; Colorado Red McClures, | $1.35@ 1.50; North Dakota Bliss Trinmphs $111.05; North Dakofa Cobblers. $1.05 1.071%; Nebraska-Wvoming Bliss Triumphs, L101 15: Michigan Russett Rurals, $1.05; | Minnesota Early Ohios, $1.10. | New stock, no track sales, Street sales, | Florida Triumphs per bushel crates, $1.90. Arrivals, 78; on track, 305. shipments, 676.

COMMODITY PRICES

COTTON New York

Jul ober December b Bid.

Spot 8.55, off 3. NEW YORK COTTONSEED on,

Jul Riemer ve

U.S. STATEMENT |

WASHINGTON, Jan. 29 (U. P.) —-Gov- | ernment expenditures and receipts for the | current fiscal vear through Jan. 27, com- | pared with a year ago Last Year

This Yea 84.345, 001, 802. 13 ". 136,524,060.70

Expenses R 16.954.899.50

Receipts Deficit § Cash Bal . Work, Bal Pub. Debt Gold Res. Customs

Inac. Gold

INDIANAPOL rs CLEARING WOUSE |

ATin .$2,210.000 Qe ins $6,350,000 |

LOCAL | PRODUCE

Por ry “Heavy breed hens, 41% Ibs, and ic; under 4'% 1bs., lde; teghorn hens, 2. heavy springers, 1'2 Ibs. and over, 18¢. Leghorn sprin ers, 1%, Ibs. and over, 15¢. a oosters, 5.1 wirictly fresh country ran swe. ise (Bach full case must weigh 55 bs. oss. A net reduction of 15 cents fan full case under 55 Ibs. will be

er—No. 1, 38% @3%¢; Na. er) 341% @ “30¢; 28¢c.

se butterfa. No. No. rices quoted by Nuadioy Do"

_FOOD PRICES

AGO, Jan, 20 ) Sweet Fora MeIntosh, $11, is. ota toes—Tennesse, bushel h Carrots—Illinois, bushel, —Texas, bus el, 85@ 90¢. m ban, lu 50. a ower, nia, crates, ssa eas

am Bjery == owaTe ¢ crates, 40c@s1,

SAFE DEPOSIT BOXES

%* The %x Indiana National Bank

of Indtananolls

43 538. 144.89 .507.852.077.81 44.972,010.54 53 452.943 74 Purch. 3.008. 0 8.31

12, 755. '326.655.80 11] 36.728.500.94 5: ot 5 Ye

lifornia, ichigan,

BUSINESS EDUCATION

Accounting, Bas

rah and Secret | course BR TLE ei al, WR Ror Called :

RE a

[ Yale & T

i | National

{ exchange | cable rates on major currencies: Cabl Rates $5.00%

receipts, 3 |"

Yellow Young Young

TT a S & W Sheet Sheet Stl Dr

Rad

pf A.

0 on 38% 144 EY.

5 Rub. 1 pf. S Smelt bio.

{Un Stores A... A...

. 191s

434

Soma, S_ Steel id . Yd... 4%

16 191, 4%

| 3” I

@ »

55pm NTE NAN

DD tO NIRS RNONWLI AR I= NWN IID TI

> Sau Wo

-@ a3

17%

aly

13%

15%

73 +16

36's

% ‘Mn

Net Close Change 5% 67 3% 53 2134 8%

1% 49 i

Son 19%

733% 3 3

FP):

Vises Lee +

Pie |

BANK ST STOCKS

Bank

of America

Bank of Manhattan

Bankers Trust

Bank of New York Trust

Brooklyn Trust

Central Henge

Chase Chemical ... Commercial Continental Corn Empire First National Guaranty Irving Manufacturers City

Exchange

New York Trust

Public

Title Guarantee

FOREIGN EXCHANGE

NEW YORK,

firm,

Enelond

(pound)

Jan.

60-d. bill rate)

BE France Italy

(franc) (lire)

(dollar)

Belgium (belga) ...

Germany Switzerland

fmark) . (franc)

Holland (guilder)

Sweden Norway (krone) Denmark

Japan {yen)

load: No. red, 8814c:

No. 1h 861,87

Corn— i rket, loads: No. 431,147; yellow, N

4 white, . 4 yellow, 431 2@dTc:

(krona)

JRTane)

80@9

ea.

5 mixed, 43@46'%

stea dy: 20@30c;

white,

Br 30c.

WAGON Wi

grain elevators are vaying for Mo. other grades on their merits.

City

WIN NIPEG V

Mav July Oct,

High

AR RARE $1.26 ov 1.17% 1.00%

47 1,

1 5.00 1.00

CAS weak: feceints, Fed, 81% ard, ST1o can se No. 2

Sy:

0. 4

Low 3 21%

Loon

receipts, »@50c; No, 47% @50¢; No. mixed, 476@49%c

receipts,

yellow

(U. P.).—Forei Following nine

are opening et,

LOCAL GRAIN

Wheat —Ma rket,

fa hard,

al car5 Rite,

13 ear0. 3 white,

WHEAT

90c. Dats

WHEAT

rev. Close 26 17 0011

Close 3 $B $1. 3 1, 1-96:

LIVERPOOL WHEAT

(Today's

! U. tterling at

Ss.

$5.00%%.) « DEN.

* is 1.127;

equivalents

Low

24 13

fr 1

$1.13% $1. 13% 1.12% 1.123

based on

Close close

1.11% 112%

WHEAT FUTURES DIP TO NEW LOW AGO PIT

Scattered Buying and Low Export Demand Force Corn Prices Down.

CHICAGO, Jan. 29 (U. P.)— Wheat futures sank to a new low for the current movement on the Chicago Board of Trade today, depressed by reports of rain in the winter wheat area, prospects of continued wet weather in that section during the coming week, and the absence of any important export business. At the close wheat was 3 to 1% cents lower, May 923; cents; corn was % to 5% cent lower, May 591% cents and oafs were 4 to 4 cent lower, May 31'% cents. ‘ The purchase by Portugal of between 2,200,000 and 2,405,000 bushels of United States, Australian, and Argentine wheat was confirmed but this information, instead of encouraging traders to the bull side, had little or no effect on the market. Trade in the wheat pit was confined mainly to commission house selling with some buying from shipping interests. Corn yielded fractionally and automatically with the decline in wheat. Commission houses sold May and there was some spreading between that month and July. Buying was scattered. Carlot receipts were somewhat higher while export demand was said to be extremely slow. Liverpool closed % to cent lower with no support from outside speculative interests. Profit taking reversed the trend of early firmness. Winnipeg, Minneapolis and Kansas City sagged.

CHICAGO GRAIN

RANGR

Prev close 3 3

‘B83, 887%

Wheat— High By co. 3 Bath July 881% Sept. ..... .88%

Low Close $ .B8': $ .R2% 87% B8TVa

Corn—

May July

SOL 60 8014

60 805% A

60 B03, 61 Oatlg—

Mav July i Bept. .. vn Rye—

May July Sept.

Soy Beans—

31% 20 287%

74 687%

July

3.00

8.75 B.87

00 9. b Bid.

8.17 8.90

a 0.02 9 n Nominal, a Asked.

CASH

Wheat—No. 4 hard, 94'%e, 4c: No, 4 mixed, 4c: No. 3 yel5434 @57c,; No white, : , £51, @56%c; No. 5 white, 54c,; ing 5214s¢.

Oaty—No. 1 mixed, 31%e; No. 1 noite, 331 BAe. No. .2 white, 33%c; No, white, 33@3314c; No. 4 white, 32%c; ple, 391. @311%¢.

2, T6'.@80% Barley Feed— maltin 201 01¢. Soy Beans— Timothy Beed—$2.90@3. Clover , $32@37; sweet, [email protected]. Provisions — Lard, $8.10 nominal; $7.95 nominal: leaf, $7.87 nominal; $1.12 asked,

Rye—No. 480 oc No sales. R

bellies,

Argentine Grain

BUENOS ATRES, Jan. 29 (U, P.).—Grain ng closed . 38 Bary lower,

1 . $1.36,

4) Vac

$2500.

for

taxable year,

Taxpayers

YOUR INCOME TAX

No. 8

EXEMPTIONS ALLOWED COUPLES MARRIED DURING TAXABLE YEAR

should note that under the Revenue Act of 1936 the credit for dependents as well as the personal exemption is required to be prorated where a change of status occurs during the taxable year, and that these credits are allowable not only for the purpose of computing the normal tax but also the surtax. A fractional part of a month is to be disregarded unless it amounts to more than half a month, in which case it is considered a month. For example, a single man and a single woman who were married on July 20, 1937, and were living together on the last day of the may file a joint return. returns on the basis of the calendar year, they would be entitled to a personal exemption of $2208.34, which is seven-tweliths of $1000 for the husband while single, plus seven-twelfths of $1000 for the wife while single, plus five-twelfths of $2500 for the period during which they were married. each is entitled to a personal exemption of $1104.17, rgeven-tweliths of $1000, plus one-half of five-twelfths of $2500, during the year 1937 the husband or the wife had the status of the head of a family prior to their marriage, he or she would be entitled to his or her pro rata share of the personal exemption of $2500 allowed the head of a family for the period prior to their marriage instead of merely that allowed a single person. However, for the period of their marriage any exemption to which either might be entitled as the head of a family would be merged in the joint personal exemption for that period. The joint per= sonal exemption allowable in the case of a couple who were married and living together during the entire year may not exceed

If a child under 18 years of age and dependent on the parent support reaches the age of 13 years during the taxable year, the credit of $400 for a dependent is required to be prorated in the same manner as the personal exemption. For example, should the child's 18th birthday fall on June 30, the parent would be entitled to claim $200 credit for the dependent child—=that is, one-half of $400. The same rule applies to othér dependents where a change of status occurs during the taxable year.

If they file their return or

If separate returns are filed, whieh is

PERSONAL

COMMERCIAL

THE OLDEST TRUST COMPANY IN INDIANA

The INDIANA TRUST COMPANY

MEMBER FEDERAL DEPOSIT INSURANCE CORPORATION

COLLATERAL MORTGAGE

Allied with THE MERCHANTS NATIONAL BANK

SATURDAY, JAN. 29, 1938

Heavyweights Rise 10 Cents To Top of $9

Failing to respond yesterday to improved levels around the market circle, the hog market today added generally 10 cents to all weights of barrows and gilts scaling about 169 pounds, according to the Bureau of Agricultural Economics. Best 160 to 180-pound butchers again carried off the top which advanced to $9. Packing sows held fully steady at $6.40 to $7 for the bulk, good lightweights quotable to $7.25. Today's cattle trade was quoted nominally steady with only 25 head of fresh arrivals estimated. Compared with the close last week, all slaughter steers and yearlings are fully 25 cents lower, with spots off more on plain and medium offer ings. Lightweight heifers and cutter grade cows ended fully steady, while weighty heifers and beef cows are weak to mostly 25 cents lower. Bulls lost 25 cents, while stockers and feeders moved in a weak to 25 cents lower trade. A few loads of good medium weight steers made $8.15 to $8.50 during the week, but bulk comprised medium and good grades of steers and yearlings selling from $6.75 to $8, a few loads of plain offerings stopping from $6 to $6.50. Most heifers were plain and medium sorts at $5.75 to $7, a few lots of good offerings reaching $7.50 and $8. Beef cows bulked from $5 to $5.75, odd head at $6, with low cutters and cutters clearing from $4 to $5. The late practical top on sausage bulls was $6.25, only a few making $6.50. Most desirable feeding steers bulked Friday at $1150 to $12, with the top $12. Today's sheep and lamb trade was quoted nominally steady, and compared with the close last week, fat lambs show no change exeept for some weakness on fed western offerings. Fed yearlings are 25 cents lower. Good and choice native and fed western lambs bulked on the close from $7.50 to $8, with an extreme top of $8.25 for choice west= erns paid late. Slaughter ewes lost 25 cents during the week, selling late at a $4 top for choice handyweights.

HOGB Top Receipts 9.20 6000

Barrows and Le (140-160) Good and choice. .$ 3.300 (160-180) Good choice. . choice. . choice. . choice... 2 choice. . (290-350) Good choice. . {| rate Sows— (275-350) Good .. vs (350-425) Good .. . (425-450) Good (275-550) Soahim: Slaughter Pigs— (100-140) Good and choice. . Medium

CATTLE Receipts, 25—

R25@ 8.75 7.25@ 6.50

B.00@ 5.00 8.25@ 1.75 8.50@ 10.00

(1100- 1300) (750-1100 Steers and (550-750)

Heifers— Good

Heifers

(750-900)

d (530-000) Sex

Medium Common Cows All Weights— Good a Medium Comm Low Rue and cutter

Bulls Yering, excluded (all weights) f) (All weights) Medium ; Cutter and common Vealers —Receipts, | weights) Choice weights) Good weights) Medium and com LURE " Orrves —Receipts, 25 (250-400) Choice (250-400) G i 200, -400) Feeder and Btocker Cattle

t: £500- 800) (880. 1050) (500-800) (ato: 1 1050) 1380- 1050) Heifers— (500-700) Gond and choice. . Common and medium f BHEEP AND LAMBS

~—Receipts, 800—

@ 500

Choice

Do hata 13 SOTA pA

Common

Lambs— Choice Good

0 $I Medium Common ...

Wes— Good and choice Common and medium FT. WAYNE to 25 cents Righe) r: 200 Ibs,

"80: 280° ing bs., $8.85; =220 1bs., $8, 45. ® 244- 260 Ibs $7.80: 280-300 Ibs. 87.55; 300- $25 1bs., 325- 30 1bs., 87.05; 120-140 Ibs, $8.80;

120 1 $8.55. Rogie $6.50, $5.25; calves,

lambs, 8 © Report of the condition of the South Park Saving and Loan Association of Indianapolis, Marion County, n= diana, at the close of business on December 31, 1937, RESOURCES First mortgage loans. ... Share loans Real estate sold on contract

Real estate owned (exelusive of office building)

Investment—U. 8. Government obligation (includjng H. O. L. C)

Insurance and taxes vanced

Cash on hand and in wanks Furniture and fixtures ....

100%

stags, $12;

$57,500.00 200.00 2.700.00

13,888.31

1,650.00 ad255.22 246.41 150.00

#76, 580 04

LIABILITIES Reépurchasable or free shares: Installment shares .... $39,104.77 Full-paid shares Mortgage pledged shares Borrowed money Contingent fund . Undivided profits ..

Total .. dvi 376,580.94 State of Indiana, County of Marion, ss: We, the undersigned officers and directors of the South Side Saving and Loan Association, of Indianapolis, Indiana, do solemnly swear that the above statement is true.

JOHN W. EMHARDT, President,

CHRISTIAN J. EMHARDT, Secretary,

GRORGE F. DUDLEY, Director, WILLIAM J. DUDLEY, Director, HENRY MUBLLER, Director. Subscribed and sworn before ma this 28th day of January, 1938.

(SEAL) PRED R. BENHAM, Notary Publie.

7,513.55 1,500.00 7,000.00 5,871.62

PRRs