Indianapolis Times, Indianapolis, Marion County, 19 March 1938 — Page 11

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~ Today " Yesterday ...coeo.:

motive: Reports:

amen smm—

Large Attendance at Exchange Aids Advance.

NEW YORK, March 18 (U. P)— The stock market advanced over a broad front todzy following three days of sharp decline that carried the list to the lowest levels touched since May 1, 193-5. Immediate cause for the turnabout was lessening of tension abroad, notably in - the PolishLithuanian situation. Wall Street att:ndance was swelled to large proportions for a Saturday in view of yesteriay’s sharp break. However, there wis an exodus after initial deals shov ed strength. First dealings’ were :ctive. Thereafter the market quietd. Prices held at gains ranging to ‘nore than a point except in rare initances in the case of stocks which ;iiled to appear in the recent drop ( | the market.

Sante “& Rises

Most railroad | Sues were higher. Santa Fe rose rore than a. point and smaller adves®es were made by Pennsylvania, Nei York Central, Northern Pacific.” Southern Pacific, Great Northern, Southern Railway, Baltimore & Ohi, > and Chesapeake & Ohio. - Steel shares were buoyed by favorable reports. © Chicago reported operations next at 31.8 per cent °f capacity, up 3.1 points, the four:i” weekly advance, and a new high since November

U. 8. Steel re-ched 51% up 2%. Bethlehem at 55° was up 2% Republic and Youn: stown made good gains,

DOW-JONES S§ sigox AVERAGES

80: INDUSTRIALS seeess.s 120.43 42.02 t4seseses 118.41 —3.62 +0.14 +121 +0.52

Today ...... Yesterday ........ Week ago ssesesesratecsses 122.58 Month 880 cc.oce: recess. 127.50 Year ago ............ assis 181.04 High, 1938, 134.35: low, 118.41. High, 1987, 194.40; ‘ow, 113.64.

20 RA/LROADS

Week ago 25.85 -+0.19 Month 320 ..ccone lessees. 28.796 40.10 Year ago Z , . High, 1938, 32.33: “fow, 23.71. High, 1937, 64.46::low, 28.91.

20 UTILITIES

evsecsne {easaenns

17.96 10.28 17.68 —0.47 18.59 40.05 19.33" +0.10 82.79 +0.06

Week ago Month age Year ago High, 1938, 21.86: low, 17.68. High, 1937, 387.54; low, 19.65. 70 STOCKS Yesterday ........ Week ago Month ag0 ..c.eeo--Year ago High, 1938, 44.42; low, 37.37. High, 1937, 69.67; low, 3887."

Week's Business At a Glance

AUTOMOBILES — Ward's AutoOutput this week 57,555 units vs. 57,438 last week and 98.978 year ago. BANKING—F:deral Reserve: Gold stock this veek $12,778,000,000, up $10,000,000; cxcess reserves $1,460,000,000, off 510,000,000; brokers’ loans off $97,000,000; circulation off $6,000,000; ratic 80.4 per cent vs. 804 last week =nd 80.5 year ago. Dun & Bradstreet: Week March 16 bank clearincs $5,480,233,000 vs. $4,748,227,000 previous week and $7,358,198,000 year go. : COAL—National Coal Association: Week M-zarch 12 bituminous output about 6,600,000 net tons vs. 11,298,000 year =g0. CONSTRUCTION — Engineering News-Record: Awards this week

esesccrasecsssccs

371.87 40.50 37.37 —1.15 39.14 +0.10 41.24 40.32 66.95 —0.09

a $53,284,000 vs. $80,524,000 last week

and $34,569,000 year ago. _ELECTRICIT Y—Edison Electric Institute: Week ended March 12 electric .output 2,014,729,000 kwh, lowest for any full week since July

+. 20, 1936, vs. 2.035,673,000 previous

‘week and 2,212,897,000 year ago. ‘ FAILURES—Dun & Bradstreet: Week ended March 10, 269 vs. 242 previous week and 170 year ago. INDEXES — Moody's Investors Service: Week ended March 12 business activity 744 per cent of 1928 average vs. 73.6 previous week and 106.0 year 2go. Dun & Bradstreet: Week ended March 15 food index off 1 cent to $2.48 vs. $3.01 year ago. Iron Age" Week March 12 capital goods activity 53.4 per

| & cent of 1925-27 = iverage vs. 52.8 pre-

‘E

{- stitute:

vious week and 91.1 year ago. ~ LUMBER — National Lumher Manufacturers Association: Week ended March 5 output of 505 mills 158,665,000 feet vs. 151,434,000 by 538 mills previous week; shipments 183,401,000 vs. 187,382,000; booked orders 194,489,000 vs. 192,756,000. OIL—Americar Petroleum InWeek ended March 12

crude output averaged 3,382,100

> bbls. daily, up 47,400 from previcas

week; gasoline stocks 93,084,000

" bbls., record high, up 933,000 from

552,916 previous week and 744499 ‘ear ago. STEEL—Ameri an Iron & Steel

% Institute: Prod; :tion this week

§ 299 last week

scheduled at 32.1 per cent of capacity, second high ‘si rate of year; vs. £1d 88.9.year ago. United Press es: mate: Steel ingot output this wee 422,000 tons vs. 893,000 last Week: and 1,165,000 year

“Hi 8 to 16 per cent ¢ vholesale 10 to 25 ago. : NEWS — Alliscburing Co. 1937 ay a share vs.

2-YEAR LOWS, TENSION EASES 7

reek would begin |2%

“NN. Y. Bonds

By United Press BOND PRICE INDEXES

. 20 20 20 60 : Indus. Rails Util. Bonds Today .ccoevee. 9.4 55.6 5.3 Yesterday ..... 194 54.6" . 74.9 Week ago ..... 80.0 51.5 6.4 ‘Month ags .... 81.1 65.1 “99.5 Year 2go 92.8 91.3 91.7 2 Years ago... 91.9 92.5 96.5 i 70.0 82.5 54.6 4.9 101.2 100.7 69.3 81.1 1936 High ..... 100.4 100.2 1936 Low 84.7 93.3 (Copyright, 1938, Standard Statistics Co.)

1937 High 1937 Low .

10 MOST ACTIVE BONDS

Net Month Change Ago + % 96% — 4% + 5% 2% =i}

Year Ago 106%

: Close Pn s & L 4%s 81 95% N Y Cent 3Y%s 52 56 B.& O 432s 60.. 17% Seabd 4s 50 st.. 11% Chi B Qucy 4s 58 98% Penn RR 5s 68..102%%, So Pac 4%s 81.. 42 Can Pac 4%s 46. 913 Ad Exp 4%s 46 .100 Int T&T 5s 55. 55

+ 5% +1% +13% — 3p +1%

Bond transactions approximated $3,660,000 compared with $3,448,000 a week ago.

U. 8. GOVERNMENT BONDS Treasury Bonds H hs 1943-40 Ju ...... 3s 1945-43 seed 2 as s 3 1 3s 4Yss 2%s 3 1 27%s ee 2%s 59-56 reg Federal Farm Mortgage Bonds 1964-44 . 104.12 104.10 104.12 Home Owners’ Loan Bonds 1949-39 101.25 101.25 101.25 1952-44 103.30 103.26 103.30

FEDERAL LAND BANK BONDS

Bid censsss 101% ceeseess10158 “eo ..101

102.8 101.13 3Ys

3 July 1955-45

Jan. 1956-46 6

«100% «102% DOMESTIC BONDS

High Low Close

(M).... 42% 9.

Abitibi 3s Fi 3%

B&O re B&O ref $s D3000. B&O 4'2s 60 cv....... Beth Stl 1% 60 102% Can Na Ry i Oct 69. A Cen Pac 40% Ch & O as, 96 E.. Chi Bur Qu 5s 71 eh Bask hy 5s 51

Cons Oil 3'%s 51 . Cons Edis 3%as 56.

60 .... Roading 41 4; Spe or 5 Rem A v

rv West Union 5s 60.. Wheel Stl 4%s 66

Australia 5s 85. Braz 6%s 26-57 .. a

Chi icago Stocks

By United Press

Abbott Lab .. Aetna Ball B Armour & Co. . utom "Wash ent ro a er 3endix Aviat J

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Bet} fens Beth . Steel 7 pf 89 Black &. Decker i aw-Knox .... 1 Ning Air .... 28% Bohn Al & Br. Bia Borden:

: 24s

ush Ys Butler 2 Butler Be of Byers, A M .

allahan &B . alumet Campbell Wy .. shada Dry ... Oan Pacific . Carpenter Stl. Carriers & Gen Case J 1 Caterpillar T 8. Caterpillar T pf.101% Celanese 13% Celotex - 10% Gent unary . Cen Cerr Faint i Pasco A

6 of of id o t gia

City Stores Cleve Graph’ ‘Br 20 Samus Moly Lo 36% Cluett Peab. 12% Colgate? der 34

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- 17 MOST ACTIVE STOCKS

. 32% ; 5%

approximai tes compared wih 3000 hares e short sedsion a week ago.

Hig wom ais ble 31% + 80s 31° I asp

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BONDS

T.H Trac 5s T H Water Works. 5s 56 ,. orks gs 49 .....

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2.64! °° 1955 3. i N Am 350

DDIRICO i 0383

. 84

7 \By M. P..Crist & Co Market , St. Investment Corp... am 23.32 Dividend

DED PRD et OO se £43 =I 9 23 "32

Ar®-3-30ne-1"

DIDI OID DIDI NW nT i= OD Dit 1b DER

IN VESTING Co. ’S

ked Bd Asked Inyest | Bank © arp: o Bne 4.50

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: 303883822385

17 Well F 0 "idh 1 13. of

LOCAL ISSUES 357 Ihdisnspelis Bond & Share Corp.)

quotations “0 not. repreor offerings, but merely indicate the’ approximate market

based on buying and selling inquiries aor

——

0 Hupp. Motor ...

Il. Central vous

. ay Ba hg he oi ate eee

Gentri Pipe ves

Gitiés Se Cities Se Cc De Sy Ly $7

level

St: Sufiray Oil ... Fechnicolor

Wright B

GR mmron, au

ud fe

"Wood Ind 5% n Am Tr.... 36% akin

Col B t pe : sp 4

gti Ys

53. OE G13

B3-N28S.E8

16 a a si 21% Ho fi

7 2 3 6%

East Kodak ...148%2 1 Eaton Mf

15%

28% 0

. 26

5% 6s 36% 7% 7% 3%2

1% |

i 8%

Curb Stocks

By United Press Net Low Close Change 85 85 + 4

73 38% 8%

Ys 0

t& Fi a 2%

1 i

CU. RE

‘March ‘19

“and Jd Jeceints Jor th he Compared itt with a year r ago: : Expenses $5, seit 88 on S388

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FINAL New YORK STOCK QUOTA TIONS

By United Press.

[indian ‘Ref ... Ind Rayon a 1ngerso. Ran . : tn” : Inspira n’ Cop

Rae Nickel ..... P&P .... ‘P&P pt. Shoe

Jewel Tea cooee Johns-Man ....

oRer G & B.

Lambert sienese Leh P Cem ... oh V Coal it I RR ... Late: Ses bby McN & L F. Glass ...

May Si Fd

cesses

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Na Sup. Penn. Natomas

Pathe Iii wes Patino Mines . ] ess

ffer-Brew ila Read < I

Mor: hillips’ Pet

Public Serv Pub Serv: Pullma

an’ Pure Oil ....... BUrity Bak ....

Rionfeld oil B Ruberoid

S . grime pt St'L-8 Fran gt Ls een, bi Schenley Dist pf

Simms Skelly Oil Socony-Vac .. So Am Gold ... South Pac ....

COMMODITY PRICES |i Si¥

& Web .. Studebaker sees Sun Oil

2 Superi

U. P.).

Sur Swift ‘& oe Swift Intl ...

Syming-Gld .. Syming-Gid xw

. 23

opf_... . 67 re 1 ited 1. 112 8 . 8 - %

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S88

High 5 1338

6 13%,

Md. 4

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£35 AEE

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550B.25853.280 a

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CHICAGO, ‘| Michigan McIntosh, [email protected]. Sweet Po- : bushel ham

8 Sacks) —Tilinois ‘Yellows (street sales), 65

£ fie extra firsts, cars. 18%c;

ca oNet Close Change % + 19% oe P VL A

Vadseo jig a Yan

Basie Fonz

een Walker (H) .... . 38 Walworth ..... 87 Ward Bak B.. Warner: | ae 3 Warren “vee Wayne Pump .. 2 Web-Eisen 5 1 Auto i 16

ot B

roan BE EINER

aL ID td » SF

2% sian Rat WR

#® FR

Zenith Rad ... 13% + %

Local Livestock

es ; goGS March

evseesssrconssssesiecie.$

. . . . . . . * . . . . . . . .

200080000800 000008908 00000 Ses0scssccsses ater esen. cs0oessccossss00esesoss

ee e00c0909060000000000 cn

SSRISEsINGE ;

Barrows and Gilts— (140-180) Stood and 150- ood and

aJad 330000 IND OP

) > a 250-290) Good’ and 290-350) Good and Packing Sows— . 275-350) - Good » (380-435) : seciessesccan

7 (275-550) Medium ..coeseses” Slaughter Pigs— w{200-10) Good and choice. . Medium

ssassnss

CATTLE —Receipts, 368

ce.

DINOD 3 3aaa3a8

09082809

seeedenecsss ~ U.

Za=h ‘OOD

an ee

-ate

"pe jt

NnnooenSSte $38833338a%

) GOOA ...ceo0000000 Medium ....coc0ee ) Medium 3 -(725-1100) Common (plain) .. Steers and Heifers— (550-760) Good

g2sa5sasssy

PI INN IIODNe

» 3

[ 22 2 3 2 Say

09 Sons ©3383

: : Heifers (750-900) Good ..... (550-900) Medium ....e.c000 (550-900) Common essence

all eight Ww do Good

seccscicovseoe

coe 83

om Cutter and Cutter... ... Balls Yearlings excluded (all weights) Good «8. (All weights) ‘Medium’ ...... 6. Cutter and common .......o 8. Vealers =Receipts, 500—

(All weights) Choice (All veignis) Choice (All weights)

sag oI 388

eke POO owaen 33583

0 - O00

sesvssens

sssebose

SE ea hut 3883

—Receipts, 527— " (350-400) Choice Good

pom 3383 oa 8388

Feeder and Stocker “Catt R Steers— (500-800) Cho ice (200-1050) Choice ° (800- -800 d 20000000000, (800-1050) Medium mon

oe essere

®scsssssecs

83 3S3wEss:

09 09880d

Re 1-1

Heifers—

(550-1750) Good and choice . Common, medium.

SHEEP AND LAMBS =—Receipts, 2240—

OS SR-I30m ou. @-3nnnm

=e) ww

N00 Faas 03 098 pd “INO oom

Good and choice ......seees 4. Common and medium ...... 3

FOOD PRICES

March 19 (U. P.).—Apples—

a ee, C. s—Tilinois, Bnach Texas, bpahl hel, 50@ 75 —Florida, lugs, $1.2 S@LT5. California, crates, [email protected]. mpers, 75

80@

Give: Idaho Valencias, $1.5

CHICAGO PRODUCE

CHICAGO, March 19 (U. P.).—Egg Maricet, easy; receipts, 29,320 itr grad firsts, cars, 18c; less t *

Sars, Jelc: dirties, 16%; current receipts, 18240! ecks, 15c; s torage-packed firsts, 19%c; storage-packed extras, 19} Butter: Marke: steady; eipte 733.588 ; fresh graded firsts (90-91% 3 extras ( score), aC; 8@328%%c: seconds. 26@37c: specials, 0 @30ae standards, 29%ze¢.

VOLUNTEERS ASKED "FOR AIR RAID WORK

LONDON, March 19 (U. P.)—A joint manifesto appealing for 101,000 civilian volunteers to carry out London’s part in establishing - air raid precautions was issued today by the Lord Mayor, the London County Council chairman and the 28 ‘mayors. Twenty thousand women were called upon to volunteer. -The manifesto appeals for 55,000 air wardens, including 10,000 women; 4000 men for first aid parties; 12/000 persons, half of them women, for first aid staff posts; 30,000, 4000 of them women, for an emergency fire brigade, drivers, telephone operators and clerks, of the latter 150 motorcyclists are sought and 600 bicyclists.

ELECTRICAL BIDS FOR FEDERAL WING SET

Times Special WASHNGTON, March 19.—Bids on electrical equipment and installation for the new Federal

Procirement director,

He. ‘said specifications and drawings will be sent to bidders. Copies also- are available for the Indianapolis Postoffice.

‘WIN. HORSE SHOW TITLES MARION, id, March 19 m. PJ).

announced

ren ROE bun

I! DIP SHARPLY ON

30 | buying from export houses.

Cit rain Clevators are payin 3 oy §

Reynolds, Public Buildings Branch |:

ons Repaired 9

CHICAGO MARKET

Corn Follows Decline for Fractional Losses i in Moderate Trade.

CHICAGO, March 19 (U. P)— A.lull in European war clamor as Lithuania yielded ‘to Polish demands cut tension on the Chicago Board of Trade today and. wheat’ futures sagged slackly. At: the colse wheat was 1 to 1% cents lower, May 87%, corn was % cent lower, May 597% cents and oats were % ‘to % cent lower, May 30% cents. si . Traders were once more conscious of ‘other factors as attention was withdrawn from the foreign picture, with:small export dealings and continued favorable weather in the domestic Southwest looming as the most potent market influence in addition to the weakness at Liverpool. Mexico was reported to have bought 400,000 ‘bushels of hard winter wheat overnight, however, and somewhat better participation by exporters, who took advantage of the break, appearsq to check pres-

00 | Sure.

‘A considerable varisiion between

o | acreage harvested and the March

estimate in the Government predic-

2 | tion (on the ‘basis of which large

crops could be produced under normal conditions) discounted the in-

9 | formation.

Corn prices eased but the decline

? | was not as sharp as in. the primary

pit. Trade was light with some selling by commission houses Rene St= ing orders to sell were reported just above the market, especially in the May delivery. “Liverpool closed 1% to 1% cents lower, feeling pressure of Australian grain. Miller demand showed some improvement but was more than offset-by bulky. offerings.

CHICAGO GRAIN : RANGE

Low *§ 86% 83% B84

Prev. close $ 88%

Close $ 24% 84%

Wheat— High

81%

58% .60%a 61% .61% 62%, 62%

50 .28% : 391 20% 28% 29%

.68 67% d 657 85% .65% 645 64% 165%

1.10%

2 28

a 3 ®»

Poon BRS

CASH . Wheat—No. 5 hard, 82%ec. : ' Corn—No. 3 siixed, Sees No. 54c; No. 5 mix No. 59%¢c;. No. 3 ellow: 57 oy Yc Rv J1:e

mixed,

malting, @89c Barley Peed, sales, Pimothysesd—3$3.50 3. _Cloyerseed—Red, $32@37. sweet. fie 10050. ; Cash Provisions—Lard. $8.80 bi oose, $8.20 jominal; leaf, $8. 2 CA ratte, $11. 25" ask

LOCAL GRAIN

| Tap See, 0, rn T NO: No. 1 hard, Jalats No. 3 goa, hard, 83%;

aT ssints. 19, 19 Su

Ne w, 4 400, Dixed. Ca

H fn —Market. Steady, oS . No. 4 white y

ids,

WAGON WHEAT for No. 1c; other grades on their merits. Zach corn. new No. 2 0. 2 yell low. 45¢c. Oats, 2

i. PEG WHEAT

1. 135% 1.10

uly October. . 02 % 92% 989,

{Porker

% [for the week

Prices Remain Steady At'Topof $9.40

“Sellers tried to recover some of

Friday's losses on hog supplies of

less than 1000 head, but the run

offered. little to work with and had ‘tobe. released at steady prices. This

left the top on best 210 to 220-pound butchers at $0.40. Only a few pack-.

ing sows were included, selling with

little change from $7.75 to $8.25, good lightweights quotable above, Compared with the close last week, all weights ‘of barrows end gilts

| show losses of 50 cents, with pack=

ing sows 25 cents to mostly 50 cents off. Today's cattle trade was quotable nominally steady. Compared with the close last week, slaughter steers, yearlings and heifers are steady, with some weakness on weighty heifers. The market on all classes closed with a weak undertone. Cutter grade cows show strong for the week, other grades steady, while bulls are slightly higher.

‘Vealers are weak to 50 cents low=

er, with stockers and feeders at firm levels. - Numerous loads of 1025 to 1268-pound steers sold at $9.95 during the week, bulk of ‘the steer crop

grading good and moving at $8.25

to $9. Choice 688-pound heifers reached $9, with best 1006-pound heavies at $8.40. Bulk of the medium and good heifers ranged from $750 to $8.25. Choice vealers sold

upward to $11.50. Most stockers and -

feeders went to the country fro $7 to $8.25. : No sheep -or lambs were include in today’s unloads and trading : on a nominally steady basis. pared with the close last week, wooled lambs are 20 cents to 25 cents lower, with shorn offerings fully 25 cents off. The week’s top reached $9.35 for choice westerns, best natives stopping at $9.25. Strictly chaice westerns sold. on the close at $9.15, with the week’s bulk of wooled lambs grading. merely good, at $8.90 to $9.25, mostly $9 downward to $7 for plain offerings. Best clipped lambs sold early at $8.50, with the late bulk of good and choice arrivals $7.75 to $8.25. Best yearlings scaling 108 pounds and cleared : at $8.25 at midweek. Slaughter ewes are steady, bulk prising mostly kinds from $3 to $4.50, with choice handyweights topping at $5.

CHICAGO, Maren 19 (U.P.).—Hogs—Re= ceipts,: 8500, including 6000 directs. Market slow, talk: kin ‘over but top - price un-,

ang Cattle— Receipts, 200; calves, none. Market, steady. Steers ana yearlings, steady for ‘week; heifers, 25¢ higher; beef cows, steady to weak ; cfitters, steady; bulls, 100 to lower; Sorsing consi ered, light Yeslers, Sle jowe Ter wt 5, alers, s Jong 0 50c er a [email protected], selects, $11; hea heifers, heifers, $9. vy 39.65; ight Sheesh Repelpts, 2000; market, For week, fat wooled lambs 2 se Slipped lambs, 0 shee, eep, steady 4) Jesters top, $9.50; So er 4.

ewes, $5. CINCINNATI, March 19 (U. Receipts, aoe. ncludin 200 i Se over, 260. ted Sales steady on light supply; top, to 40; 250-275 ibs., 32.5: 160. M0 Is 1bs., ; $75088. 3 55, $7@7. calve: . - ha none dir Sheep1s, in

steady, lower;

FT. WAYNE, alt 19 (U. P.).— Maries, steady to 10 i Ridley 300 05320 0 a ia 0.10" 24 200 Ihe 10" 280 Ibs. $8.85: 280-300 Ibe. $8.70: 300-393 1bs.. $8.55; 325-350 Ibs., $8.35: ; $8.80; 120-140 Ibs., 8. 45: "1602120 Tons $8.05.

Rol hs, $7.50; nmaehs. ds st ags, $6; calves, $11;

FORE IGN EXCHANGE

NEW YORK, March 19 (U. P.).— exchange firm. Howin 3 are havin

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