Indianapolis Times, Indianapolis, Marion County, 28 March 1938 — Page 12

A A rl. el A EN I AAS BI ..atl TT aT

T 5

4 | ee | | |

Reorganization Bi i 1 - Opposition Is Influence. :

NEW YORK, March 28 . P) I Tidications of increasing opposit: n the Government Reorganization Bl. brought a rally into:the s n arket today. Leading issues ic ‘ered gains ranging to more tha a point at noon. Bonds firmed; Viheat was firm and cotton. futures st sady. i Bethlehem: Steel, - which: touch: 43%, came back to 48, up 1% n TS. Sfeel made a new low at 43 and then rallied to 4456, up % net J nerican Teléphone © “recov ‘isiightly after making a new low ab

Railroad ‘and utility issues came back to fractional net gains. Aviations were strong. under lead |of D huglas Aircraft which rose to 85, (use. | Mining shares were depressed e:rly with new lows in American Sfelting at. 31%; off 1%, and GC ‘eene Cananea at 35, off 5. Both h:ve large Mexican interests. Oil company shares firmed on. prospect [a remuneration” for losses: in NM 2xico. Jase lose 2: points to 681%. Chrysle:=made a -new low at 40’and rallied tc 42%, up 1% net. Johns Manville w:S up 2'points at 63. Le

Today's Business At a Glance -

CORPORATION NEWS

ddressograph-Multigraph Corp. 19:7 net profit $1,950,802 equal to $258 a share vs. $1,319,886 or $1. 75 in 1936. Allegheny Steel Co. 1937 net incorae $1,813,707 vs. $1, 829, 137 in 1036. American Radiator & Standard Saaitary Corp. 1937 consolidated nel profit $7,205,511 equal to 68 certs .a common share vs.’ $7,344,514 or. 70 cents in 1936. Zmaconda Copper Mining Co. 1937 solidated net income $31,387,862 al to-$3.62 a share vs. $15,881,829 $1.83 in 1936.

co: €qor

Znaconda Wire! & Cable Co: 1037 3

corsolidated .net profit. $1,985,243

equal ‘to $4.70 a ‘share vs.’ $2, 289; 71 7%

or, 35.42 in 1936. - Atlantic Coast Line R. ‘R. Co. Fe ruary ‘net operating income $565,364 vs. $1,013,051 year ago. Canadian Pacific Ry. Co. 1937 net inéome $9,462,284 equal to 29 cents al 1are vs. $6,029,184 or 4 cents in 1935. Cannon Mills Co. 1937 net incore $2,231,759 equal to $226 a shee vs. $4,275,558 or $4.33 in 1936. Consolidated Retail Stores, Inc., 1927 net profit $340,593 equal to 60 cers a common share vs. $377,203 or 51 cenfs in 1936. Delaware Power & Light Co. 1937 net income $1,370,755 equal to $3.65 a common share vs. $1,305 +409 or $3.23 in 1936. General Electric Co. 1937 net incore $63,546,762 equal to $221 a cor:mon share vs. $43,947,166 or $1.52 in’ 1936. Ione Star Cement Corp. 1937 consolidated net profit $4,079,825 equal

-to £4.17 &'share vs. $2,892,717 or $2.99

in 1936. | 1 ontana Power Co, 1937 consoli« daied net income $3,612,486 vs. $3,306.096 in 1936. National Tunnel & Mines Co. and Montezuma-Apex Mining Co. period Merch 15 to Dec. 31, 1937 net loss $12 1,201 vs. $49,998 in period Sept. 1, 1936 to March 14, 1937. Facific Gas & Electric Co. 1937 consolidated net profit $24,663,450 equal to $2.71 a common share vs. $22 671,537 or $2.55 in 1936. Panhandle Producing & ‘Refining Co. and subsidiaries 1937 ret profit $212,050 vs. $154,405 in-1936. Portland Gas & Coke Co. 1937 net income $192,224 vs. $123,770 in 1936. Standard Oil Co. Indiana 1937 preliminary net profit $55,900,000 equal to $3.66 a share vs. $46,883,448 or $3.09 in 1936. Union Carbine & Carbon Corp. 1937 consolidated net income $42,-

732.128 equal to $4.75 a share ‘vs.

$36.352,208 or $4.09 in 1936. Utah Power & Light Co. 1937 con-

solidated net income $1,751,777 vs. | Ewes

$1,558,509 in 1936. Virginian Ry. Co. 1937 consolidated net income $7,006, 781 equal to

$17.04 a common share vs. $6,451,699 k

r 515.27 in 1936. (Copyright. 1938, by United Press)

DAILY PRICE INDEX:

‘NEW YORK, March 28 (U. P).— Du’. & Bradstreet’s daily weighted price index of 30 basic commodities,

compiled for Unifed Press (1930-32 |

ayerage equals 190):

Saturday (new 1oW) ........ 110.70

111.23 113.47 157.40

WESK R80 covesvissssssonees Moth ‘ago SOND ORONO

Ye:r “sess scccccitensene

r ago 193% high (Jan. 10) seeecsecs

1. S. STATEMENT. - Ww. SHIN ON. March 28 (0. Pi Gor

Fn en ‘and ne : Se al vei year ag EoSiaoh a5 -25,: com:

cure hg arcd ay P Last Year 45.426, 2]

* This ie cnses 5,571,138, 278. 5 Ex pts i 4.759,036.526.61 rasa ds | Soc Def. 812 2 1276;

Net Det... 793,502.12 1,687,036.926.46 Cas: Bal .- 588.48 1. 67.809 29 or, Bal. 1.367,261,413. a .49 Pub. Debt. 37.498.062,274.18 34 0,706.65 | golc Res. -12.784, 982, si08 11341. 337.927.70 | 7407: 342 2,976,658.56 Foa- 7s Gold Cert. Fund ny ’$1.000.600

Lp TDIANAPOLIS CLEARING HOUSE : cox $2,177,000 |’ +L 547000 |

$ébacesres web.

ENG SRR iy

(U0. £).—Pal- 1

Fal gras nb on. major a able Rates Change

3 nd {pound) 3 i . ae 13,93 8 Baas

083% 1685 14010 .2288

Fe82

Ya 20d Sr ery « ‘on; (Krona) “ees: e)

117.06 | 33.2 193° low (March 26) ....%.., 110.70 j20-140 1

P orker Prices Down 15 Cents On Local Mart

“Hog prices 1oeally; and. ‘elsewhere were hammered - below. last week’s late levels under increased supplies and killers’ determination for lower live costs, according to the. Bureau of Agricultural Economics: At Indianapolis prices on all ‘weights dropped 15¢ under most sales Saturday or 25c: below Friday. Top of $9 on 210-220-pound butchers was the lowest. since the middle of February. Packing sows declined mostly 25c to sell within a bulk: spread. of. $7 to. $7.75, relatively few: lightweights reaching the extreme top of $8. A sharp drop in receipts of cattle around the main market circle caused “sellers to ‘hold for more money on first rounds: here, but a higher market is not “in the books” with the beef market and the eastern demand in its present state. Rates on.all classes. finally established about’ in-line . with” late last

‘week, the ‘market influenced by a

slow report from: other: main’ terminals, despite light receipts. However, all difference’ was in favor.of sellers - and there were - spotted strong sales, especially in she stock. A load of choice around 100 pound steers went on eastern account at $9.50 for the top, with the bulk medium and good $7.50 to $8.75.

Good ‘800 pound heifers made $8.25, comparable mixed yearlings held higher. Most . heifers ranged from $7.25 to $8.00, grading medium and good. Beef cows bulked at $5.25 ‘to $6.00, odd head to $6.50, cutter grades $4.25 to $5.25. Bulls ruled steady to weak, with 5. 75 paid sparingly.

The vealer .market drop 50¢c ftom finishing ‘levels last k as the result of continued declines in Grasse veal. The top was lowered o $10.

§ HOGS March :

4 "886060 c00000000c00000 00s

bain bai ini ib =1

PROMO OQ

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rows and Gilts-—

- Po S

(200-350) Good

Packing Sows— fie 0) Good L30-428) Good ats etinse -(275-550) Mon

Slaughter P (100-104) Sood and choice..

ssiissnscs esc c00ab on

CATTLE —Receipts, 1336—

C8 ..eee. ce

(750- 500)

sscses

seseevsocecs

SI 3-3.3000-3-300000 WC NOD ITI -TI COoOQOoMONTNO 00° ~300000 0000000 DOW DN MOOI

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(550-750) Gi

(750-900) Gi (550-900) M (550-900)

@-a 883. S989 ©99 © 99999599999

=1a100 ou Sten

All Weights— Good

a am ‘Medium raat utter and common Vealers —Receipts, 500— (Al weights) Choice . {aH weithis) Medium (All weights) Cull and medium

A HNo

—Receipts, 640— (250-400) Sicigs

more ooo 0000 ona oo w;n OOO

Feeder and Stocker Cattle Steers— { -800) Choice

NOOO

09 9993 O89 0999

1050) ) Goo (500: 1050)

Heifers— (550-750)

Po oem o=31 Sams ow ‘P3 @apom®

aa amo mo am NOO000

Good and choice.. Common, medium

SHEEP AND LAMBS ~#MMeceipts, 991— Lambs— Choice .... Good os Medium Common ...

esedepesesas oon

Good and choice ceeses Common and medium .e....

pW 233 AD 9A Wh 510000

CHICAGO. March 28 (U. P.).—Hogs—Receipts, 15,000, on 5000 Hireonn maret, slow. 15a @25c off: top, $9.25; strictly ood and choice, 170-240 1bs., [email protected]: 550-350" 1bs.. © 38. [email protected]; 140-160 lbs., $8.75 8ia. good 350-550-ib. packing Sows, fed

Cattle—Receipts. 9500: calves, Jono: Steers and yearlings, slow; mark et, a to Steady: heifers, firm; co bulls, vealers, firm; st’ fed cere: $10: ange. Sa .50; heifers, $9: sausage bulls; héep—Receipts. 10, 00. including 500 divery active: 25@ Sosithore 156855 paid a for choi as offerings: top and

bulk elir - hulk & Hipved onger s, $8; 45 rot un: )

IT. rch 28 Market, 10@13c i 200-220 Eefoo: 80-200" 1bs. x so 70: .220240 1bs. 40-2 5 70; 280-280

-1. stags, 1% CLE calves, $10;

@9: 220-240 1bs. : fo. £8. iH 70; sfio-32 8 Fa 36; 160 8. 8.25 own; 7.80 gs cal g

LAFAYETTE, Market, 10 to rs re 00: ‘220 Som i 0 , [email protected]; lambs,

CHICAGO PRODUCE

ggs—Market, u ettled; ‘receipts, 47 fresh iad Bek Prats cars, Pie 2s Ties Gitte SO: Ge 4c; 20% ec Suns receipts, 1a LH storage packed frets, 18%c: stor acked 18%¢c. vB utter-=Market es. 700. 411 ‘gross Hr a ‘firsts (90-91

casel than cars,

ow; ha sar Dr 3 8, $1.45."

score), 7 anise: extras (92 score). firsts, 25%5¢; seconds. 22@2 centralized a score). 25 tac: centralized . , C Joe; sme specials. 29 6%, @29 ae: Thine i

Po s | trucks: ducks; 18@22¢c C; spring chic 18%2¢: Roosters, :. fryers. 23@25%c¢; b eese—Twins, 14%: @14%c “daisies; 14%, @15¢; longhorns, 143,@15¢, Potatoes—Supplies, libetal: demand. slow: Idaho set Burbanks,

Hy obi “ain @1. hd is %»al

l4c;

es, ‘New SS ¥-- Supplies

1libe 1: mand, market, unsettled. ral: de

Track sal s Florida Bliss Trumps, iosd $1.60. © Texas Bliss + Trl

“ontrack,

. 133 (

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Colum Gas Col Piciiies vie 9% Com Credit . 26% Cred ot’ os 84 Vv TE o' Solvents .e om & Ro. Cons Aircraft . Cons Edison ... Cons Film. pf .. Cons Laun ries.

ROM a

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Cutler .Ham ee

19Y;

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Cigar . Electrjo .e Foods. 2

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Huson 2, Bay Min 23%

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6% 6%

LOCAL ISSUES

(By Indianapolis Bond & Share Corp.) The followin quotations do not repregent actual bids flerings. ‘but merely indicaté the approximate market level based on buying and selling inquiries or recent transscyons,

BONDS American Loan Co 5s 46-51 .

23%

+ FHF

Im Central wed

a =

Ind Asso Tel 44s nd Tel Co nd Railwa [Interstate

Noblesvill e HL&P 5 47. cuuin 10 Ohio Tel Service & ao. csosees BB Tel 4%s €5

ac & L 5s H Water Works 6s “86. es s2100 H Water Works 6s 49......:101 [rac Term Co 5s 57 1

sess

RR St Yds com. | RE

wr 1% pid. . Home % pid. . Hook Drug a iN cum... Toa Gen ery Go 8 xInd H dro Eiee 7% BL

I Bur Ea Lt ptd 6%..... xIndpls P 8%2% .e N Ind Pub Sry. Co pfd 5%%.. XN jo d § Pub Ee Serv Iv, 8% 0 + 5 Jad Ao 88 Ind, 6 % . Go

P Pub perv or xPr xXProgress WE Terre Haute Union Title Co co an ot.i.e

‘Co X | Van bi ‘Milk Co com. sess

2 (By M. P, Crist & Co.)-

c. a Market St, Investment Corp... 20.00 21.50 XEx-Dividend. LL spits,

2 FOOD PRICES.

rch 28 P.) .—Af gan \ Mota Btosh, Shafi 1.50. ‘Sw

Ay iit, 208

SG eL1 , Tomas ap Ripe

C. Bindis). shipments, Yell

‘| McLellan St ...

Ye | Bais we wes

Sperry Corp ... ‘| Spiegel gn Sau te D

a | Tex G Bul 28%, 28%

-{ Week ago cease 9.4

¢ |Am cyan m a

By United Press

a os : High Low Last Oheage dian Ref .... 5 —-

NEW YORK STOCKS

SEES 2 somal

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BRRREE SH +++

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5 eh Yana aud Bi.

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x, sin pn > 3

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2 2 ei 14%. 14%

i 3 . 15 RT \icKeespo: Cain McKesson Robb Sa McKesson Rb pf 29 29 5% 6%

15% 5% yy Mead fos aese 8% Meng cvssnene ami COP «ceo 5% ° 6% dent Pe ol 13% -13% dland StI... 18Y, © 18% nn Moline .. % 4% 4%

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15 5% le ‘Talcott J ... 8 Tenn Corp... Texas Corp .. Texas Gulf Prod

5. 34% 34's

GENERAL ELECTRIC SHOWS INCREASE

SCHENECTADY, N. Y. March 28

I +++ FESS

(U. P.).~Consolidated net income

of General Electric Co. and its subsidiaries amounted to $63,546,762, or $221 a share, in 1937, compared with $43,947,166 in ihe preceding year, the 46th annual: report to stockholders disclosed today. Net sales billed were the largest since 1930, totaling $349,739,415 against $268,544,587 in 1936,. or an increase of 30 pe rcent. Dividends paid on the common stock were the. highest on record, amounting to $63,273,796, compared with $43,266,021 in the previcus year.

N.Y. Bonds

By United Press

20 20 Indus. Rails Saturday ...... 78.0 - 5L9 56.1 64.9 91.2

20 60 Util. Bonds £9.5: 93.1 90.8 - 154 93.8 79.8 102.9 . 97.6

Month 220 ...s 814 Year ago ...... 92.8 198 High ..... 83.0 70.0 95.4 82,5 938 Low ...... 78.0 51.9 B80.§ 93.1 (Copyright, 1938, Standard Statistics Cou)

NEW YORK, March 3 as (0. P.).—Bonds opened steady. N

vane as a3, ? see csssntnge . 08% 5

vesseces

Pow &

Curb Stocks

EW YO YORK, wis n, (0. P.).—gur =

Fx seve

iy 18% + %

i da LocaL PRODUCE

ES Se ERE Ri

8 aes oe roe treaty sountry ait

case’ m A net Jie, of 15: . Case un der. 55. .ibs., .

Carter £D

Jaded Tid: 33 gd

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Volume

| smaller cities.

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Wn Yellow Tr. ..... 10% 10% g8 &W. ”

Young Be oe 3T dm 3

Worthington

Young Stl Dr 12% - : Zenith Rad «oe. 10%. 10% ll

| EARLY LOWS FORCE

WHEAT DEMAND UP

Corn: Losses Slight: as Trade ;

Remains Active.

CHICAGO, March 28 @. PJ. — Demand for wheat increased today on the Chicago Board of Trade after early selling had carried prices downward for losses of almost cent. At the end of the first hour wheat was % cent lower to % cent higher, corn was unchanged to % cent lower and*oats were unchanged to 3% cent lower. At 85 cents, May wheat demand strengthened and early losses in the nearby month were erased. Export ers, mill interests and speculators were : chiefly responsible for mid« morning reaction to-the early downturn. A strong rally in Winnipeg, where prices moved up more than 3 cents from early lows, added fur-

ther strength - in Chicagé. Demand #

in Winnipeg was for wheat fon opening of navigation on the lakes, Although there was but little weekend wheat business reported and almost no foreigh demand today, exporters. believed the picture was actually less gloomy ‘than it appeared. Wheat receipts in Chicago were 120 cars. Corn trade was active ‘and mixed with price changes relatively small. Receipts were 501 cars and this had some bearish effect. Country offerings were liberal, totaling 63,000 bushels with more reported belie worked.

WAGON ON WHEAT

5 St rain elevators are Paying for 1 for. No. re c; other. grad FA corn. new No. 2 velow, 450. Oats, 1A

ARGENTINE GRAIN BUENOS AIRES, March 28 (U. Grain ures opened firm Wheat—April, 98%c, unchanged; 98%c, unchanged. d%e, unchanged;

a. 3c, unchanged. $1. 27%, ans 12 Fit. wns:

RETAIL TRADE DOWN

P= May, June,

May,

SIX PER CENT HERE

dependent Stores Show February Loss.

Retail trade in Indianapolis’ independent stores during February dropped 14 per cent below the mark for the same month last year, and fell nearly 6 per cent short of the

January figure. This was shown in a survey covering 72 Indianapolis firms in 22 kinds of business, completed today by the U. S. Department of Commerce. . Nearly coinciding with the city’s loss, trade receipts throughout* the state for February fell 15.4 per cen’ below the February, 1937, amount. ecreased 5.6 per cent from January to last month. South Bend storekeepers suffered the greatest losses in the state-wide slump. Trade there was 32 per cent below receipts for the corresponding month last year. However, business

.gained 11 per cent between January 1 and February.

Losses were not sof heavy in Those with populations between 5000 and 10,000 reported a February drop “averaging 6.4 per cent below a year agc : Businesses with their volume losses shown in percentage are: Shoe, 5.2; drug, 8.7; department, 9.2; country general, 9.3; hardware, 9.8; groceries and meats, 9.9; total grocery, 10.3; lumber and building materials, 11.3; men’s and boys’ clothing, 128. Groceries. without. meats, 13.8; jewelry, 17.7; total apparel, 225; total furniture and household appliances, 28.2; motor yelclet, 29; wom en's specialties, 30.2, and furniture,

Res-

Only one gain was reported. taurant sales rose 1.8 per cent. '

LIQUOR soLD IN GEORGIA | ATLANTA, Ga., March > (U.P). legally in Georgia

'—Liquor was sold today for the first time in 22 years, | S= Dealers were licensed in Dougherty| County,” in southwest Georgia, Ihe :

first county to vote against prohib:

BOWERS EXECUTION ser

HARRISBURG, March 28 (U. 5 —Governor ernor Earle today set May 9 as execution date for Wendell Porrest. Sonvicted -of slaying formerly of

' Times Photo. by Tabernacle Presbyterian Church. Other exhibie tors were (left to right) James Miller, Calvin Hamile ton, Robert McDaniel and Ronny Welch.

- Winthrop Ave. had the prettiest :knite of 137 entered >in the 16th" anfiual. kite ‘contest: Sponsored, Saturday

Violence F lares in’ Texas Strike

Eleven-year-old. Prunetta Riippert (center); 3839

Times-Acme ‘Phot, Oe afiliate, are on strike. Margafet Florez, shown in : .gbove group, wearing a C. I. O, cap, figured in one . melee, hitting a policeman in the nose with her fist | after swinging at the company superintendent.

Six persons were. seriously: injured and more than 30 arrested in rioting at the Lone Star Bag & Bag“ging Co. plant in Houston, Tex.,. where members of - the ‘Textile "Workers Organising Somumites, aC. I

Torture Bandits Get $100, 000 Col. House Dies

Col. Edward. M. House, ware time advisor of President Wilson, died in New York today. He was 79, Story, Page 1)

.G. BE. Posson of Chicago, a Purdue University student, fen't ‘as badly injured as you might believe. He was the “victim”. ina on

stration: of proper first aid given ‘by the R: O. T.'C. ‘First Regiment _ team at*the recent Druggists’ Business Conference at the®university. , Tying the bandages are, left to right, L. G. Hart, captain, of Frankfort; ~ C. J. Lupear, Indianapolis; J. EB Fant, Newcastle, and W. D. Alston, Hamilton, Mo. os tr la

SPRANDLEY RESIGNS * FROM EXCISE POLICE

Lieut, Sith 1a 8 to Succeed Him ~ With Rank: of Captain, |

The resgtinton. of Capt. Bie .

of the. state: He lives in ‘Boonville. Lieut. Smith has been filling an as<

Sgamets; out of the Indianapolis ofce. Mr. also announced that a mbart the Indiana Alcoholic Beverage Commission and the Ohio Tax Commission are to meet within the next two weeks with a view to reaching a compromise on Ohio’s recent placing of a $1500 annual fee on wholesalers importing Indiana beer.

ALL S1Z8S guavkenr, save :