Indianapolis Times, Indianapolis, Marion County, 9 February 1938 — Page 12

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PAGE 12

STOCK MART FIRMS IN DULL SESSION;

BONDS

Cotton Futures Rise 50 Cents a Bale; Wheat Up.

NEW YORK, Feb. 9 (U. P.).—Stocks firmed fractions

“to a point in dull trading to-

day. Bonds made gains, featured by rails. Cotton futures rose 50 cents a bale and wheat gained fractionally. The pace of the advance slackened sharply on the stock market.

A few high-priced stocks with thin markets made wide gains. U. S. Gypsum rose to 6834, up 3% and Johns-Manviile reached 80, up 2'%. United States Steel reached 55%, up 1% and then eased fractionally. Bethlehem got to 56%, up 1 and eased. Republic was around the previous close. Railroad issues were strong on ‘hopes for an early announcement of a rate rise by the I. C. C. Gains ranged to more than a point in Santa Fe. Railroad equipments were strong. Utility shares held . around the previous close. Motors, oils and rubbers firmed. Farm issues were up a point or so. " uw =

Today's Business At a Glance

GENERAL BUSINESS

American Petroleum Institute re‘ports week ended Feb: 5 crude oil output averaged 3,316,450 barrels daily, off 41,200 barrels from preVious week; gasoline stocks, 86,484,000 barrels, record high and up 1,640,000 over previous week.

Edison Electric Institute reports week ended Feb. 5 electric output 2,082,447,000 kwh, low for any full week since Aug. 8, 1936, vs. 2,098,‘968,000 previous week and 2,201,057,000 year ago.

CORPORATION NEWS

Alaska Packers Association 1937 net profit $362,387, equal to $6.30 a | share, vs. $522,715, or $9.09 in 1936. Cleveland Electric Co. 1937 consolidated net income $7,101,798, equal to $2.56 a common share, vs. $6,919,555, or $2.48 in 1936.

Cushman’s Sons 52 weeks ended

“Jan. 1, net loss $204,527, vs. $375,782

2 in 53 weeks ended Jan. 2, 1937;

12 ~-weeks net profit $7626, or 36 cents a = per cent preferred share, vs. $187,-

N42, or 76 cents a common share “year ago.

ae -

292034, vs. $1318 in 1936.

“ov. way pp

Illinois Bell Telephone Co. 1937

“net operating income $15,098,244, vs.

$14,484,594 in 1936; December net

= ‘operating income $1,434,846, vs. $1,“487,092 year ago.

Murray Ohio Mnaufacturing Co. 1937 net profit $228,254 equal to $2.12 a share vs. $302,254 or $2.81 in 1936.

National Bond and Investment Co. 1937 consolidated net income $2,595,959 equal to $3.74 a common share vs. $2,562,115 or $3.69 in 1936. Radio Corp. of America 1937 preliminary estimated net profit $9,000,‘000 equal to 41 cents a common share vs. $6,155,937 or 20 cents in

-1936.

U. S. Hoffman Machinery Corp.

1037 consolidated net income $489,©3104 equal to $1.87 a common share VS. $447 980 or $1.92 in 1936.

RAILROAD REPORTS

Chesapeake & Ohio Ry. Co. week ended Feb. 5 carloadings 20,375 vs. 10,800 previous week and 27,276

year ago.

New York, Chicago & St. Louis R. R. Co. week ended Feb. 5 carloadings 3,857 vs. 3781 previous week and 4850 year ago. Pere Marquette Railway Co. week ended Feh. 5 carloadings 4177 vs. 4029 previous week and 4908 year ago. Southern Railway Co. 1937 net income $805,921 equal to $1.34 a 5 per cent preferred share vs. $4,304,926 or $1 a common share in 1936.

DIVIDENDS

Penick & Ford Lid. 50 cents on common payable March 15 record March 1. In 1937 company paid 75 cents March 15 and 25 cents each June 15, Sept. 15 and Dec. 15. Reliance Manufacturing Co. (Illinois) regular quarterly 15 cents on common payable May 2 record April 21.

CHICAGO PRODUCE

Eggs—Market, unsettled; recei ts, 9475 cases; fresh graded firsts, cars, 1 ;. Jess than cars, 16%c; extra firsts. cars, 16%c; less than cars, 16l5c; checks, l4c; dirties, 14l2c; current receipts, 16¢. Butter—Market, unsettled; receipts, £51,733 gross lbs.; extra firsts (90-912 score), 281, @28%c; extras (92 score), 29c; firsts, 2734@28%c, seconds, 26@27c; specials, 29'2@30c¢: standards, 29c; centralized (89 centralized (88 score), 28c. arket, steady: receipts 28 18@22c; . hens, chickens, sia 23%2c,

19@20 sc; : le Leghorn

prollery 15¢;

Q irpites. modermarket, dull. New ; demand slow; Burbanks, ; Colorad MeClures, North Dakota Bliss Triumphs, ; North Dakota Cobblers, North Dakota Early Ohios, $1.15@ : Wisconsin Round Whites, $1@ : Michigan Green Mountains, $1.10; new stock, track sales, less than carlots. Florida Bliss Triumphs, per bushel crates, $1.45 Arrivals, 75; on track, 251; shipments, 830.

LOCAL PRODUCE

breed hens, 42 Ibs. and up, Ibs., 14c; Leghorn hens, 13c: hpers 1'%2 Ibs. and over, 18c; oF neers. 1% Ibs. and over, 15c; rooste; pe 1 ion fresh country run eggs. 13c: each full case must weigh 55 gross. A net deduction each full case under 55 Ibs, Nin be made.

Butte : : Butterfat—No, 1, 29¢; No. ‘oe. hr prices quoted by the Wedioy Co.)

See Final Edition of the Times for | Closing Stock Quotations

8 if oy upplies, ET Joa

Heavy 16c; under 4% heavy sprin Leghorn Sp

ADVANCE

Porkers Lose

Early Gain on Local Market

Opening 10 cents higher on weights above 160 pounds under the influence of light supplies, the hog market closed with the early advance lost on these weights, according to the Bureau of Agricultural Economics. Lightweights and pigs which sold steady to 25 cents lower in the early trade, ended with further 10 cent | losses at the end of the session to show accumulated downturns of 10 to 35 cents. Top on early rounds was $9.25 for best 160 to 180-pound butchers. Packing sows held fully steady, bulking from $6.50 to $7.25, with smooth lightweights quotable above. A meager mid-week run of around 800 fat cattle cleared readily with the best action seen here in weeks. All classes found outlet at strong to 25 cent higher rates compared with the week's previous advances. The maximum gain appeared on a handful of steers and beef cows which have looked relatively low for some time. Odd head yearlings near choice made $8 to $8.25 with a short load good 1087-pound weights at $7.75. Other steers ranged from $6.50 to $7.35. A load of good 961-pound heifers scored $7.25 with a short car of good 760-pound averages at $7.50. Other heifers usually made $6 to $7.10. Good fed cows reached $6.25, bulk beef cows $4.75 to $5.75, cutter grades $4 to $4.75. Practical top | bulls $6.25, few $6.50, steady. Choice vealers ruled steady, with | an extreme top of $12, while lower grades were unevenly 50 cents to $1 lower; bulk of good and choice kinds from $10. 50 to $11.50. Country demand improving for replacements, bulk $6 to $7. All classes in the sheephouse again unchanged, although the top was 25 cents lower. Best native and fed Western lambs sold from $7.25 to $750. Fed yearlings scaling 96 pounds made $6.25, unchanged considering quality and weight.

Eastern States Corp. 1937 net loss |

of 15 cents os &

gan. 0 Receints 25 4000

Illuminating | 5

S f830999

oles IIT HYDE WY HO HO WID

(425 ) Good (278: 550) J: Slaughter Pig (100-140) Good n and choice. .

NO OOD OOOoC

—Receipts, 935—~

teers— (750-900) Choice (900-1100) Choice (1100-1300) Choice .. (1300-1500) Choice .. (750-900) Good ...

INT OOD OUTDN

(750-1100) Common (plain) . Steers and Heifers— (550-750) Good Heifers (750-900) Choice (550-900) Medium Common

HN SIN BEEOOOS GD GNU ONON

All Weishts— Good

Low cutter ‘and cutfer Bulls Yearlings SS Cusied (all weights) — Good | 8. (All weights) ‘Medium Cutter and common Vealers —Receipts, 500 (All weights) Choice (All weights) Good ..... (All weights) i Cull and mediu

[email protected] | . [email protected] | 8.00 9.50 4.00@ 8.00

—Receipts, 422—

(250-400) Choice 7.50@ 8.50 Good 6.

oo ow 335

0) 0) 0)

0) 0) 50)

#3 saga 88 DONT = Soon

500. 700) ood and choice. . Common ay medium

SHEEP AND LAMBS —Receipts, 2313—

6.00@ 5.00@

Lambs—

Good and cohice Common and medium P.).—Hogs—Re-

(U. CA IR 2000 directs; . Jirong to 10 cents higher: er 0: bulk, good and choice 150.220 Ibs. bg 608.85; 350- 280 Ibs., '$8.15@8 BOE Sh Rar i ack ine’ sows, - weights, uo to $7.50. w Ray Sheep—Receints. 5000. including 200 directs; fat lambs mostly steadv at $7.25@ 7.50: ton, $7.65 to small killers: double clipned lambs, $6.65: vearlings, sheep and feeding lambs scarce Cattle—Receipts, 7000: calves, 1200: fed steers and vearlings, active, strong tn 25c¢ higher: market forced affair ‘due to sharplv abridged receints: large steer run: snots. [email protected]: top. $9.75: prime heavies went on special accounts at u terests oneratine: higher; light heifers. strong; choice heavv heifers. $8: light offerings. $8. cows and hulls, strona; vealers, steady to 50c lower; mostly $10.50 down, some $11.

2.50@ 3.0 1.50@ 2. 8

Feb. 9 (U. P.).—Hog ; 160-200 1hs,, S0@o. 3. Ag 00: 240.280 1bs., $8. a Ls "anasto : IRS $8, 250 Lambs—$7@ @17.25. Vee

FT. WAYNE, me (0. P.).—Hog Steady: 160-180 1 ? 1802 200 hs. 8. 30: 200-. -230 Tbs., $8. Le “30240 ng "38. 50: 240-

26! $8. 280IPs $775: 3 300-325 Ibs, $80: 32s 325 0 ne:

ibs., $8 $550: 100-120 The shan: stags, $5.50. OCalves—sil. gouge 07 (0. Pp). 450 9

: top, $9.35: 200.225 Sor i 15@850; bulk

most plain to @5.50; * practical top

350: none direct: m mar good native ewe and heavy ne mbs, ais-

me sausa Bulls, 8.50050 ress Seis

heep— ket, Eenerally Senay:

RAILROADS EMPLOY FEWER WASHINGTON, Feb. 9 (U. P).— Class One railroads has 950,670 employees in January, a decrease of 10.74 per cent from the same month last year, and 4.80 per cent

counted soc 1; 8 oa a@$ laughter ewes, mainly 1

THE INDIANAPOLIS TIMES

a High

9 20%:

ddgessostanh 5 1s

I+

ZEEEEDER RE EH g

Rad & SS. Roll Mill .. Smelt .... Stl Pdies .. 27% Bl Tas

Ne... Atl Rebing uy $i as Corp .... Atlas Pdr Aviation Corp .

Loco ct wi & Ohio ..

Callahan_Zine.. Canada Dry ... Can Pacific Carriers & Case J 1

i Celotex Cent Foundry . Certain-teed Ches & Ohio .. ChMStP&P pf. . Chrysler 55 Loe ate-P-P .. Bracast B. ic Cas. Com Solvents Commonw & So Cons Aircraft Commw Edison Cons Edison ... Cons Oil Container Cont Ins ....... 29% , oi Del .. 2 oty

cE)

Crown Cork ... Crown Zeller .. Crucible St .... 36 Curtis Pub .... Curtiss-W Curtiss-W A ...

Deere & Co ...

Douglas Air a Dresser B ™ Pon

Eaton Mfg Elec Auto-L ... Elec Boat Erie Erie 1 ‘pf Sule

Fair Morse .... FedDepSt cv pf Firestone T .. Flintkote ...... 1 Foster Wheel .. Freept-Sulphur

Am Inv... Baking ... Bronze. ...

FEE FERRE

pf... Goodyear Graham-Paige Gt North pf... Gt Nor Ore. . Green H L Greyhnd 5'2 pf

Ham Watch Hecker Prod... Houd-Her B... 1 Houston Oil . owe Sound Hudson Motor Hupp Motor ..

Ill Central Indian Ref o Inspiratn Cop . Interchem .... inter Iron ..... Agric Harvester. . 6 Hyd El A . Nickel .....

PRP ...... P&P pf.... T& eu T&T For...

Kennecott ..... : Kresge SS

Lambert Leh P Cem .... Leh Val RR ... Lehman : Lima Loco Loew's Lorillard Se Lou & Nash ...

Mack Tr Martin GI .....

AEE FHF]

GG) o . NPP E ADEE

+ GI

DARE

Re a

Net Last Change 9 «vem +

2 | (Copyright

5 stocks opened irregular.

NEW YORK STOCKS

By United Press

DOW-JONES STOCK AVERAGES 30 NR Yesterday Week B80 ..vvveuviiervinne Month ago eevee EE ¥emr. BEd ... oc. ivvuiivey eer. 189, High, 1938, 134.35; low, 118.49, High, 1937, 194.40; low, 113.64, 20 RAILROADS

0.91

+1.67

Yesterday Week ago

Year ago High, 1938, High, 1937,

32.33; low, 27.08. 64.46; low, 28.91, 20 UTILITIES Yesterday Week ago Month ago ..., Year ago High, 1938, High, 1937,

21.88; low, 18.25, 37.54; low, 19.65.

cCrory . McIntyre Bore

cKess &

Br ...

ueller

Nat Acme Nat ou Nat Distillers Nat &

FHF FEHR

¥:

Ohio Oil 13 Oliver Farm Eq Oppen Coll .... Otis Steel

RR Phelps Dodg ... Phil Morris

PERE

Reyn Spring Fo. Richfield Oil Ruberoid

CE FERRER EL REE

St Jos Lead ... St L-S Fran Schenley Dist. . Seab’d Oil Sears Roebuck. Servel Inc Shell Un pf .. Silver-King Simmons Simms Pet .... Socony-Vacuum So Gold . . . South Pac .... South Ry

PEE

Square-D-B

N. Y. Bonds

By United Press BOND PRICE INDEXES 20 20 20 Inds. Rails Utils. . M38 64.4 21.6 80.1 64.8 22.1 82.3 69.8 94.1 94.8 100.7 105.4 93.1 92.6 105.2 83.0 70.0 95.4 79.6 61.1 21.5 95.0 101.2 106.0 80.1 69.3 2.3 . 948 1004 106.2 100.2 as 90.0 84.7 103.5 93.3 1938, Standard Statistics Co.)

«0 Bonds 78.6 79.0 82.1 100.3 96.9 82.5 Kd 100.7 81.1

| Yesterday | Week azo | Month ago .... | Year ago Two vears ago 1938 | 1938 | 1987 [Jas | 1936 | 1936

| | | NEW YORK. Feb. (U. P.).—Bonds opened higher. Net Open Change Australia 5s 57 106 <3 |B & O 6s :

Elec Auto Lite 4s N Y Cent 4'4s new Penn RR 4!%s 65 Port Gen El 4'2s

Curb Stocks

By United Press NEW YORK, Feb. 9 (U. Padus

Open Change Am Sup Pow —1a Asso G & E A Cities Serv Cons Cop Mns

Chart Shows Price Changes

CONSUMPTION GOODS PRICES HAVE FALLEN FASTER THAN DURABLE GOODS PRICES

}

ab -—

Freed mend

DURABLE GOODS PRICES

ToenerTTr on bnew

boo,

3 53

PRICE

~ Oo

{ [ CONSUMPTION GOODS J } 1

i 1926

=100

» ©

U.S. ®EPT. OF LABOR INDEX

i *

1937

[

XIAN)! ¥O8Y 40 *4d3Q ‘S°N

JAN. FEB. MAR. APR. MAY JUNE JULY AUG. SEPT. OCT. NC'4

DEC.

Times Special

pared prices.

prices or increased values.

THE PARKER CORP. GENERAL DISTRIBUTORS

INCORPORATED IN ESTORS

— a —

BOSTON, Feb. 8.—Those industrics which have kept their factory wheels humming the loudest since 1932 are those which have cut and The shoe, cigaret, automobile and electric power industries are a few examples of record production with steadily lowered During 1937, consumption goods prices dropped 13% per cent and at the end of the year were 25 per cent under the 1929 average. The prices of durable goods, however, actually increased during last year and ended 1937 only 4 per cent below 1929.

or business.

discovered until a later year.

ance is deductible.

lessness. A loss

Toss. wid, Mio, for WHY

YOUR INCOME TAX

No. 17—Losses From Casualties, Theft and Wagers

To be deductible, a loss arising from “fires, storms, shipwrecks, or other casualty” need not be connected with the taxpayer's trade If his home or his automobile is destroyed by fire, or his summer bungalow damaged by flood or storm, he may claim a deduction for the loss sustained. Loss of property by theft or burglary is an allowable deduction, and need not be incurred in trade or business. Hence, the loss occasioned by the theft of jewelry or an automobile used for pleasure and convenience is deductible. that the property actually was stolen. tending the loss leave the owner in doubt as to whether it was stolen or lost, the claim would not be allowed. "Losses from wagering transactions are allowable only to ‘the w= of the gains froin such transactions. A loss is deductible only in the year in which it is sustained, even though, as in the case of a theft or casualty, it may not be Losses compensated for by insurance or otherwise, of course, are not deductible. the amount of insurance is not sufficient to recompense for the loss sustained, the excess of the loss over the amount of the insur-

In general, losses for which an amount may be deducted for income-tax purposes must be evidenced by closed and completed transactions, fixed by identifiable évents, bona fide and actually sustained during the taxable period for which claimed. For instance, a person possessing stock of a corporation cannot deduct from gross income any amount claimed as a loss merely on account of shrinkage in value of such stock through fluctuation of the market or otherwise. The loss allowable in such cases is that actually suffered when the stock is disposed of. corporation becomes worthless, its cost or other basis is deductible by the owner for the taxable year in which the stock becomes worthless, provided a satisfactory showing is made of its worthon account of stock becoming worthless is deductible only for the taxable year in which the stock becomes wortha FOSS: it fut nh Deke |

It must be establisned, however, Should circumstances at-

However, in the event

If stock of a

+4.13 | Std G&

—113| SW

Last ohne 8s 73 197% 17 31 32% 49% 9

Std Srands

i “+

8 87 5% 50 2%

ER Syming-Gould. .

Sige out Brod:

aransafieriea Truax Tra 20th Cent-Fox.

Union Carb . Un irezalt Op: United Shived or Pr ou Un Gas Imp ..

oolworth .... Jorthington re Wrigley Woodwd Irn Co

Yellow Tr Young Sheet

133% vo '36V2 wil 1312

13% 36

Zenith Rad ....

LIGHT SELLING FAILS TOCHECK GRAIN GAIN

Corn Unsteadiness Erased By Moderate Buying.

13%2 13%

CHICAGO, Feb. 9 (U. P)—A small volume of selling appeared in the wheat pit of the Chicago Board of Trade after the opening but was insufficient to cut advances more than a fraction. At the end of the first hour wheat was % to 2 cent higher, corn was unchanged to cent higher, and oats were 1% cent higher. A reaction in the stock market started some selling but continued dryness in the domestic Southwest and reports of additional overnight sales of winter American wheat had a bullish influence that counterbalanced selling movements. It was pointed out that weather reports of three areas of low barometric pressure strung across the lower half of the map hold out possibilities of light rain in the dry Southwest. Wheat receipts were 29 cars. Corn began to feel the day's strength in wheat and early weakness was erased in a moderate buying movement. Receipts were 67 cars.

LIVERPOOL WHEAT (Today's U. 8S. STaivalents based on sterling at $5.00%. Prev. High Low Close Close 31. 157% $i.15'> 1.145% 1.13%

March .. $1. 18% May 1.

Ian 114%

WAGON WHEAT

City grain elevators are paving for No, 2 red, 89c; other grades on their merits. Sash corn, new No. 2 vellow, 50c. Oats,

DAILY PRICE INDEX

NEW YORK, Feb. 9 (U. P).— Dun & Bradstreets daily weighted price index of 30 basic commodities, compiled for the United Press (19301932 average 100): Yesterday Week ago Month ago Year ago .... “ 1938 high (Jan. 100 . 1938 low (Feh. 8) 1937 high (April 5) 1937 low (Dec. 30)

. FOREIGN EXCHANGE

NEW YORK, Feb. 9 exchange easy.

. 113.87 . 114.05

Cable Rates 5.01 3-16

os e England (opund) mn England (60-day bill rate) . J Canada (dollar) ..

Switzeriand (franc) Holland (guilder) Sweden (krona) Norway (krone) Denmark (Krone) Australia (pound) ..4.0! Austria (shilling; Czechoslovakia (koruna) we Pinland (markka) .. . Greece (drachma) .. | Jugoslavia (dinar) Ne Zealand

Poland Peloty) . 1902 Portugal (escudo) 045534 Rumania 0075 Argentina (off. pesi) .3341 Argentina (unoffl. peso) 27 03 Brazil (milreis) Chile (peso) Peru (soD) . Uruguay (peso) ! Mexico (silver peso) . Hongkong (dollar) . Shanghai (yuan) ... .2975 (rupee) 7 Japan (yen)

BANK STOCKS

oe Asked

0235 .. 4.04%

—.0001 —.0004

Bank of America Bank of Manhattan Bankers Trust Yorn ig Bank of New York Trust ... Brooklyn Trust A Central Hanover ..

Commercial Continental Eom a ange vs

Em v First National . Guaral Irvin ne ; Manufacturers } National City New York Trust ‘..... voces. Public

Title Guarantee ..............

U. S. STATEMENT

WASHINGTON, Feb, 9 (U. P.).—Government expences and receipts for the current fiscal vear through Feb. 7, compared with a vear ago: This Year Last Year BX DeInes $4,500 248,236.83 $4,382 572,158.88 Recei .. 3,667,742,856.78 2,528,687,328.59

Customs

Today's Purch. Total Purch. Inactive Gold .

..$9.967.94¢ $1,223,225,836.28 INDIANAPOLIS CLEARING HOUSE

” To0D PRICES —Apples—

Tntesh, sia 2s. N Sweet Po C. - esses bus 80

enne mers ts—Iili 5@ Shinaci nex 2 ons -

@3. %n Tom:

1.35. eas—

ons Be 30.

[exic: lifornin, m, lugs. hampers

California, Rioniren

Sacks) Colo in es

WASTE PAPER

BOARD PAROLES TWO PRISONERS

Four Denied Leniency, Two Others Get Sentence Commutations.

Two prisoners were paroled today by the State Clemency Commission. Four prisoners were denied leniency and two others had their sentences

commuted. All cases were from the State Prisen at Michigan City. David Taylor, who was paroled, was sentenced in Allen County Circuit Court Jan. 5, 1933, to 10 years for robbery. In a statement made to the Commission he said he went into a Ft. Wayne restaurant, had a waiter show him how to load a revolver and then began a discussion on crime. “I asked the waiter what he would do if he was held up, to which he replied that the money was insured and he would not resist,” Taylor said. “He gave me the money, then I gove it back to him and told him I didn’t intend to commit a robbery. “I started to the door and got MN idea that it would be very easy to hold him up, so I went back and told him to hand over the money, which he did. I was drunk and did not realize what I was doing.”

Convicted in Fulton County Circuit Court Dec. 31, 1930 and given 15 years for burglary, John Harmon also was paroled. He said he didn't intend to burglarize the hardware store but entered because “it. looked like such an easy touch.” Fulton County authorities told the

| Commission it was Harmon's third

crime conviction.

Fred Martin, convicted in Sullivan County Circuit Court and sentenced Feb. 20, 1933, to 10 years for bank robbery had his term commuted to an indeterminate period of five to 10 years. He and two accomplices were accused of robbing the Pleasantville Bank. Arthur Cox who was given 10 years for auto banditry in Vermillion County Circuit Court July 25, 1933, had his term commuted to five to 10 years.

BOTTS DAMAGE SUIT TRIAL SET FEB. 28

KOKOMO, Ind. Feb. 9 (U. P).— Eight persons and three business concerns, whose testimony against Mrs. Louise Botts of Brazil sent her to prison for forgeries she did not commit, face $75,000 damage suits in Circuit Court here Feb. 28. A woman confessed the forgeries after Mrs. Botts had served many months of her sentence. Lawyers here have said the statute of limitations bars the right to sue for damages, the trial having been held in 1934. Circuit Judge John Herron will decide.

LOCAL ISSUES

(By Indianapolis Bond & Share Corp.)

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

BONDS Bi

American Loan Coc 5s 46-51 ... 9 5 --J01%

Asked 98 104 105 106 106 Ind Tel Co 5s 60 . 9

Ind Railway Inc 5s 67 : Interstate Tel & Tel 5%s 63 .

Trac Term Co §

Belt R R St Yds com Beit R R St Yds pnfd Cent Ind Pwr 7% pid

| Home T & T Ft W 79% ve ves (U. P.).—Foreign | / ~~

Indpls P & Ho o% o Indpls Water pid | 102 Juincoln Natl Core Pins °Go com 24 R Mallory com . . 3% N Ind Pub Serv Co pfd 5%% . 56 N Ind Pub Serv pf 6% 60

» 21 Progress Laundry Co com .... 13% Terre Haute Elec Co 6% . 95 2”

Van Camp Milk Co com (Bv M. P. Crist & Co.)

xMarket St. Investment Corp.. 22.07 xEx-Dividend.

INVESTING CO.’S

(Inv. Bnkrs. Conf. Inc.)

Adm Fds 11.52 12.26/ Invest Bank Corps. al 1 Bos Cp 13.13 18%

9 20.82 12.94 15: 97 58 1 13.56 4.56

5.53

Bull Fd 12. 80 i 18. 08

Can Inv 3.5 Cent Trst 2¢. (8 v

Dep Ins A 2.7 yn 2

» oo Divers D ’ Shs

9 | Sup, 2 Trst, Tie Cc 1.

SAID

. Lam) » fh ff CR LCT CIR ly ad A A a foe 533333305338 3530288 fied GB

3: 18]. ° B b 92 Speer Am B Invs 16.08 1 aire d

Inc st Securities, Jia.u) well Fa 1

— BY

Ins Grp 122 13

Teaches Law

Harry Weaver (above) will teach two law courses for busi nessmen and women at Butler University's new College of Business Administration. The classes are Essentials of Law and Business Law III. Appellate Judge Posey Kime is scheduled to address the class in essentials of law Feb. 25.

INDUSTRIES SEND ICC PROTESTING BRIEFS

WASHINGTON, Feb. 9 (U. P) — More than a score of industries yesterday filed briefs with the Interstate Commerce Commission warn-

ing that increased rail freight rates would lead to further diversion of

reduce railroad revenues. The briefs were filed as the I.C.C. heard final arguments on the

freight advance to raise $517,000.000 per year more revenue. The deadline for briefs is tomorrow.

Commission Upholds Railroad Action

WASHINGTON, Feb. 9 (U, P).— The Interstate Commerce Commis- | sion today upheld the refusal of | railroads to absorb switching

charges and terminal costs in joint ocean-rail rates on shipments from North Atlantic ports to the southwest. The railroads had filed revised tariff schedules which forced the ocean carriers either to absorb the switching charges or pass them on to the shippers. Steamship companies protested the railroads’ action on grounds of discrimination, pointing out that the water carriers did not make the through rail carriers absorb terminal charges.

BANK GROUP URGES BILL AMENDMENT

WASHINGTON, Feb. 9 (U. P).— The Investment Bankers Association yesterday urged the Senate Banking and currency committee to make far-reaching changes in a bill by Senator Maloney (D. Conn), for regulation of over-the-counter security dealings. Association officials aproved some proposed regulations but objected vigorously that the Securities Commission would be granted broad and vague powers. John K. Starkweather, special TBA committee chairman, suggested that only “willful violations” of the regulations should he subject to

traffic to competing carriers and |

carriers’ petition for a 15 per cent |

| Casler,

punishment.

WEDNESDAY, FEB. 9, 1938

HONOR PUPILS AT SHORTRIDGE ARE ANNOUNGED

Senior, Junior High School Students on List for Last Six Weeks.

Mrs. Florence Goodnough, hone or roll sponsor, today announced Shortridge Senior and junior higl school pupils had won places 0 the honor roll during the last si weeks of last semester. They were Senior High School—Barbara Alig David Baerncopf, Doris Becke Margaret A. Becker, Joe Bert)}Y Kathryn Bertsch, Marvin Borman Charles Breunig, Betty Jane Brock Joan Buschmann, Joan Carey, Christena Cherpas, Mabel Clift, Ruth Davis, Jack Day, Jeanette Elkin, Ruth Enzor, Patricia Federman, Tom Fleischer, Muriel Frodin, Jane Gillespie, Emily Glossbrenner, Charles Good, Morris Green, David Guthridge, Richard Harr, Naomi Harrington, Claribel Hewson, Charlotte Hofman, William Horne, Betty Hosmer, Richard Hudelson, Sue Hull Phillips Huston, Patricia Jack« son, Dorothy Jacobs, Janet Jarrett, Janet Johnson. Barbara Jores, Sue Ann Knippenberg, Harold Lambertus, Wile liam Lewis, Mary E. Lewis, Elsie

| Ann Locke, Florence Locke, Evelyn

Maraist, Katy jorie Meyer,

Lou Matlock, Mare Richard Morrish, Mildred Orr, Martha Pool, Elinor Randall, Chester Robinson, Keith Rogers, Wilma Rothenberger, Valda Russom. David Savidge, Mary M. Schortemeier, Jack Schneider, Ruby Shelton, Jack Siegesmund, Virginia Skidmore, Martha Stanford, Harold Steup, Margaret Studebaker, Robert, Stump, Patricia Sylvester, Gloria Tomlinson, Merrill Tucker, Irwin Ulrich, Allen Vestal, Helen White, Louise Wilde and Baxter Weaver, Junior High School—Elizabeth Aldrich, Henry Browning, Patricia Joan Caughran, Shirley Cohen, Mary Curd, Muriel Garett, Cordelia Hayes, Robert Hendricheson, Nancy Horne, William Johnson, Mary L. Marshall, Gladys Mearling, Marilynn Miller, James Mitchell, Mary Ann Morrison, Dorothy Pantzer, Mary Anne Pearce, Patty Peter« son, Egon Rohr, Renate Smolenski, Mary Stone, Jane Strohm, Nancy Taggart, Barbara Thrasher and Mary Worsham.

I. U. BUILDING DAMAGED

BLOOMINGTON, Feb. 9 (U. P). —The North side of Indiana University’s new $750,000 School of Education building was scorched and 21 windows were broken vesterday by a fire which started in a pile of discarded refuse stacked near the building. Damage was estimated at $500 to $600.

SAFE DEPOSIT BOXES

Reasonable Rental

Security Trust Co. 130 E. Washington St.

Member Federal Deposit Insurance Corp.

PAYME

NATIONAL

23rd, 1933, have declared

Certificates. In accordance with the

lis for payment, Notice is hereby further

Trust and of

NOTICE

COUPONS NOS. 7 and 8

Certificates of Interest Issued by Liquidating Trus tees Under Plan of Reorganization of

THE FLETCHER AMERICAN

INDIANAPOLIS

Notice is hereby given that Otto J. Feucht, John P. Collett and William N. Fleming, Jr,, as Liquidating Trustees for The Fletcher American N Indianapolis under Indenture of Trust dated August

liquidating dividends upon the outstanding Certificates of Interest, in trusteed assets, issued by the Liquidating Trustees, designated under the Plan of Reorganization of The Fletcher American National Bank of Indianapolis, in an amount sufficient to pay and discharge Coupons Nos. 7 and 8 attached to said

ture of Trust and of the Certificates of Interest heretofore issued thereunder, the undersigned Liquidating Trustees have deposited in American National Bank at Indianapolis, Indiana, an amount sufficient to pay and discharge Coupons Nos. 7 and 8 attached to said Certificates of Interest. Accordingly, Coupons Nos. 7 and 8, which should be detached from said Certificates of Beneficial Interest, may be presented forthwith to American National Bank at Indianapo-

amount sufficient to pay said Coupons Nos, 7 and 8 attached to said Certificates of Interest having been made with American National Bank at Indianapolis, in accordance with the Provisions of said

the undersigned Liquidating Trustees, or their Er have no further liability for or on account of said Coupons Nos. 7 and 8 and the

NT OF

BANK OF

ational Bank of

a distribution by way of

provisions of said Inden-

given that a deposit in an

said Certificates of Inter.