Indianapolis Times, Indianapolis, Marion County, 14 April 1938 — Page 15

THURSDAY, APRIL 1,

~ Street Awaits Second ]

- Presidential Message.

NEW YORK, April 14 (U. P).— A brief period of short covering on the Stock Exchange greeted President Roosevelt’s message to Congress today. Prices rose 1 to -2 points above the lows in leading industrial shares. Then trading lapsed into dullness as market men awaited the President’s fireside chat tonight. ;

On first reading, ‘the speech was construed as inflationary. Some traders accepted inflation as helpful. Others felt new pump-priming meant further tax increases. As for desterilization of gold and reduction in reserve requirements, the Street noted these items merely increased potential credit, which, it held, al ady is ample. It was pointed out that hundreds of millions of dollars were awaiting investment in business once confidence ‘is restored. Some hope along this line was obtained from the absence of attacks on business in the address and indication that the President planted consolidation of gains in reform without instituting new reform measures. The decision of the Interstate Commerce Commission refusing a passenger fare rise for Eastern railroads was consideerd more important marketwise. Railroad issues declined. Westinghouse Electric, which had touched 74%, came back to its previous close of 76%. U. S. Steel rose 21% points from its low and steadied at 4635, up 1 net. Du Pont rose from 1, to 103%, up 3%. Gold mining shares rose 1 to nearly 2 points. U. 8. Government bonds held gains of 1-32d to 10-32ds point. Commodities firmed. » = n

Today's Business At a Glance

GENERAL BUSINESS

Dun & Bradstreet reports week ended April 13 bank clearings $4,-

130,427,000 vs. $5,622,128,000 previous

week and $5,837,681,000 year ago. Engineering News-Record reports construction awards this week $79,373,000, second highest of year, vs. $39,551,000 last week and $46,927,000 year ago. Federal Housing Administration reports week ended April 9, mortgages selected for appraisal on small homes $23,242,102 vs. $21,414,849 previous week and $15,414,023 year ago. National Coal Association estimates week ended April 9 bituminous coal production in U. S. about 5,680,000 net tons vs. 5,821,000 year ago. Rubber Manufacturers Association reports March crude rubber consumption in U. S, 30,487 long tons vs. 23,868 previous month and 54,064 year ago; stotks on hand 294,024 long tons vs. 288,383 previous month and 191,928 year ago.

CORPORATION NEWS American Water Works & Electric

. Co. week ended April 9 electric out-

put 39,779,000 kwh vs. 38,212,000 previous week and 49,946,000 year ago. Bowman-Biltmore Hotels Corp. March quarter profit $53,143 vs. $84,862 year ago. Chicago & Eastern Illinois Ry. Co. Feb. net loss $199, 116 vs. $52,495 year ago. Corroon & Reynolds Corp. 1937 id income $567,960 vs. $385,253 in 1936. Great Northern Ry. Co. week ended April 9 carloadings 7434 vs. 7743 previous week and 8872 year

ago. : Hewitt Rubber Corp. and subsidiaries three months ended March 31 net earnings $10,691 equal to 6 cents a share vs. $103,553 or 63 cents year ago. — Lehigh Valley R. R. Co. Feb. net loss $534,833 vs. $239,052 year ago. Lehn & Fink Products Corp. quarter ended March 31 net profit $103,891 equal to 26 cents a share vs. $128,886 or 32 cents a year ago. Libbey-Owens-Ford Glass Co. quarter ended March 31 net loss $371,527 vs. net profit $2, 020, 9856 or 80 cents year ago. Mac Andrews & Forbes Co. and wholly owned subsidiaries 1937 net profit $886,283 equal to $2.52 a com-

mon share vs. $881,644 or $251 in |E

1936. A. I. Namm & Son fiscal year

ended Jan. 29 net profit $154,406 vs. $65,508 year ago. DIVIDENDS

Fidelity & Deposit Co. of Maryland regular quarterly $1, Payable April 30 record April 19. Libbey-Owens-Ford Glass Co, 25 cents on’ common, payable June 15 record May 31 vs. like payment March 15. Loose-Wiles Biscuit Co., 25 cents on common, payable May 1 record April 25 vs. 30 cents Feb. 1. National City Lines, Inc. regular quarterly 75 cents on $3 preferred, payable May 1 record April 16.

Oliver United Filters, Inc., regu- | @8.60;

lar quarterly 50 cents on Class “A”

payable May 2 record April 22. (Copyright, 1938, by United Press)

Curb Stocks

NEW YORK, April 14 (U. P.).-Cuth stocks opened irregular.

an B «i.e. Lia asses

‘Ark ese see Cites | Service «c.eeses : 3 + td sevens . . . 8 “ese > cieee oe 25% + % Lake Sh Min . ee 50% + Ya Molybdenum ...esecesess . 4% — Y Nites, Bement esssevaiesgesene Bes + Yi o Penn earn eesaesase sens Technicolor ...oceesvescacaes 17% A

U. S. STATEMENT

WASHINGTON. Arn 14 (U. P.).—Gov-

ernment expenses an! d refeipts for the current Tecal year through April 12, compared with a year

Last Yea 5.19 $5. 833, 81. 536. 40

44, 505,07 Expenses $3.9 913.403.7184

Hecelpis .. 4.926,034,366.38

Def. by ) 471, 808. 41 ida 227,751. 2 Nev Det .. 1,840.268.051.86 Cash Bal.. 2 025017.04 1,804,688,142.67 Work. Bal 1,236,921,216.98 ,046,622.60 b. Debt 37.559,959,996.91 34,833,064,683.20

Foday's Gola Cert. Fun Fund Incr.: $15,500,000

INDIANAPOLIS E CLEARING } Hous

heen esos ws »

1938 | :

MARKET SWINGS UP ON SHORTFOLLOWING SPEECH.

‘THE "INDIANAPOLIS TIMES

Text of Pan American Address

WASHINGTON, April 14 (U. P.).—The text of President Roosevelt’s address before the Governing Board of the Pansdmerican Union fol-

lows:

There could be no more fitting occasion than the present for me to greet my friends of the 20 other American republics. We have learned in this Western Hemisphere what

‘| community of interest really means.

We have worked for ‘it, created it, and we now glory in it. Properly, therefore, Pan-American Day is set aside as an annual testimony to the significance which the American family of nations has for the world. Never was that significance greater than today. The 21 American republics present proudly to the rest of the world a- demonstration that the rule of justice and law can be substituted for the rule of force; that resort to war as an instrument of policy is not necessary; that international differences of all kinds can be solved through peaceful. negotiation; that the sanctity of the pledged word faithfully observed and generously interpreted offers a system of security with freedom.

HITS AT AGGRESSION

The three hundred millions of citizens in the American republics are not different from other human beings. We have the same problems, the same differences, even the same material for controversy which exists elsewhere. Yet, we have undertaken contractual obligations to solve these normal human differ-

.ences by maintaining peace; and

that peace we are firmly resolved to maintain. It shall not be endangered by controversies within our family; and we will not permit it to be endangered from aggression coming from outside of our hemisphere.

This, a common objective of all of us, forms a lasting foundation for the maintenance of an international understanding ‘unique in the world The American peoples, who today fortunately live as good neighbors, not only enjoy a privilege, but undertake a heavy responsibility. Fortunate in being remote from the tumult of conflicting doctrines and from the horrors of armed conflict —from the tragedies whose shadows lie heavy on the world, the American republics, nevertheless, face a grave test. If our good fortune is ts continue, our will must be strong. All of us gained independence because our fathers were willing to sacrifice their lives and all they possessed for a great ideal. Some part of that duty to sacrifice rests also on us. We have progressed far along the path that leads to government by the people in the interest of all the people. Our Democratic system has conferred on all of us an inestimable gift of individual liberty within the law.

SIGNS OF STRENGTH

We are vitally concerned with preserving the high standards of international restraint and morality, which the lesson of centuries has taught is the first requirement of peaceful relationships between nations. Now, more than ever before, we of this American hemisphere must make plain that these principles, upon which so great a civilization is founded, are vibrant, productive and dynamic. National and international law and morality are not the restraints of weaklings; they are signs of serene strength — confidence in our purpose and ability to maintain independence and Democracy. Particularly I am glad that in December of this present year representatives of all of our Governments

will once more assemble. This time it will be in the great capital of Peru. During these turbulent years the inter-American conference have come to be an instrument for bringing ever closer the relatione ships between our several nations. In Lima we have a renewed opportunity to counsel together. I assure you that we in the United States have found peculiarly welcome the views, the opinions, the friendly advice of the statesmen of our sister republics. Public opinion in all of our countries benefits from learning with greater frequency and in greater extent the thoughts, the desires, the needs of the peoples of the other American nations.

GOODWILL TESTIFIED

In constant testimony of our muetual friendship and trust is the ine creasing progress in communica= tions. The North, Central and South American voices which reach us through the air are those of friends. Only a short time ago the people of the Onited States were enabled to hear a gracious message broadcast to them by my friend the President of Argentina. A few days later they listened to the address delivered to them by the Minister of Foreign Affairs of Brazil, whom we had been privileged to have in Washington as Brazil's ambassador during the past three years. His significant words were applauded in every American home. : Our ideal is Democratic liberty. Our instrument is honor oad friendship. Our method is increased understanding. Our basis is confidence. So and not otherwise, in common effort we safeguard in this new world the great rights of our liberties and build our civilization for the advancement of humanity throughout the world.

Text of FDR Message:

(Continued From Page Seven)

tion of $25,000,000 additional for Federal buildings. A summary of these recommendations falls into two categories: 1. Expenditures from the Treasury

for work: WPA .iioeceeeesss..$1,250,000,000 FSA e000 00000000000 75, NYA 0000 ROONOLLNDS 75,000,000 ccc 0000 000000000000 . 50,000,000 PWA.....cccoo00eese 450,000,000 Highways .....c..... 100,000,000 Flood Control ....... 37,000,000 Federal ‘Buildings .. 25,000,000 Total ............. $2,062,000,000

2. Loans from the Treasury for

work: FSA eas esas senses $100,000,000 PWA .....o0c000i00.. 550,000,000 300,000,000

U. S. HA 000000000000 Total ......... .$950,000,000 It should be noted that state and local public works undertaken on a loan basis instead of a loan and grant basis will reduce the item in the first classification and increase the item in the second classification. Let us unanimously recognize the fact that the Federal debt, whether it be 25 billions or 40 billions, can only be paid if the nation obtains a vastly increased citizen income. I repeat that if this citizen income can be raised to 80 billion dollars a year the National Government and the overwhelming majority of state and local governments will be “out of the red.” The higher the na-

‘tional income goes the faster will we

be able to reduce the total of Federal and state and local debts. Viewed from every angle, today’s purchasing power—the citizens’ income of today—is not sufficient to drive the economic system at higher speed. Responsibility of Government requires us at this time to supplement the normal processes and in £0 supplementing them to make sure that the addition is adequate. We must start again on a long steady upward incline in national income. I have set my hope, my aim on stabilized recovery through a steady mounting of our citizens’ income and our citizens’ gwealth. And in that process, wh I believe is ready to start, let us avoid the pitfalls of the past—the overproduction, the overspeculation and indeed all the extremes which we did not succeed in avoiding in 1929. In all of this, Government cannot and should not act alone. Businessmust ' lhelp. I am sure business will help. We need more than the materials of recovery. We need a united national will. _We need to recognize nationally that the demands of no group, however just, can be satisfied unless that group is prepared to share in finding a way to produce the income from which they and all

claims defeat themselves. You, as

, Bv United Press fim 'W- STOCK AVERAGE Ne Net DOW-JONES 3 High Low Last Change . High iow Last Change 30 INDUSTRIALS Ut P&LA ..... % % % oe... 2 v Rom ly . i 2 tees o : —Va Aloka Jen... 10% 10 10m + y, | Yesterday +09 y Allegh gan i 16 16° — 13 | Week ago ... -—0 Vick Chem .... 34% 34% 34% + % llied Stores ... 6% 6% ‘6% .... |Month ago .... —0.84 —_—W— ~ : Allis-chal 4 4°. 4°) — 4% year ago ..... wpe —0.74 | waiker ...3 NN... Am Chain & C. 12% 12% 12% + Y% | ‘High, 1938, 134.35; low, 98.95. ne a Tres Am Home Pr . 36° 38° 38 ".."| High, 1987, 10440; low, 113.64, Yoije Mord” 2 3% 4-0 Am Bad & 8S. 1 7 11% ie ='w 20 INDUSTRIALS Willys Overld .. 2% Yo 2... Am Smelt ... 36% 36% 36% -— Yi | Yesterday : 21.61 - —0.9% | orth .... 40% 40% 40% —1 Am Stl Fdies ' 22: 23 32 + %|week ago : 20.80 .... | Worthington "ll 1 a... 1 -% Am Sugar pf...107% 107% 107% — “% or 24.54 —0 5 —Y— Am Tob B .... 70% 10% 0% + ¥ [Month ake > Te 3%) yellow Tr ....12 12 - = ™ Am Water w 4 1% 0 --e+/| Year ago : 60.18 —0.13 | young Sheet .. 30% 30% Bu —- Sw Re 11n Ancora 2 27% 27% 21% — 5, | High, 1938, 32.33% low, 19.00. sem—— Inc 2 Atchison ....... 24% 24% 24% — | High, 1987, 646, low, 28.91 : Atcnison pf ... 42% 43% 2% .... ; -_ 2 UTILITIES J ° rn uto Cae. Aviation Cor 3% 3 SY .o.. Yesterday .....ccoceceencnns 17.64 —0.18 3 Five ( ents of or » .. Week BRO... orninvsorsars+ 16.88 —01% 3alt & 5 5% 55% 4 Ya |Month ago .... sere 18.15 —0.22 : 3alt & O pf 3% 67% 67% + “a |Year ago ........ccvec000000 31.38 —0.14 / 3arber Co 18 . 16 168 EE ecent OSSES arker Bros % T% - 1% + % | High, 1933; 21. 56; Tow, 15.14. = O | Barnsdall ...... 12% 12% 12%... High, 1937; 37.54; low. 19.65. eth Steel .... 48% 48 8 — : : law-Knox .... 12% 12% 13% + ¥ 9 STOCES : ] Chm AL'S Be 5 33% 2% 28% +. $ Yesterday ....c.cococoeecuiee 35.99 0.07 of A 5-cent advance on all weights | B34 E. — {2 | Week ago ........ sstvanesans 33.50 —0.24 ; : 4 fier 3 Sw Bin XX Pimemnare ss52 —ou|1€lls House Group Indiana of hogs was a compromise between | gricos my 16 18 — 13 YORAF ARO ..oinirvnini-ennn 65.24 —0.24 4 - | Bk) S68 ; i steady bids and 10 cents higher ask Pinger, fu $i. T 72| High, 1838, 44.42; low, 81.10. Spends $600,000 Yearly ing prices, according to the Bureau —C— High, 1937, 69.67; low, 38.87. On Its V of Agricultural Economics. Galimec 8H ut Ju & » men sow FE n Its Victims. The upturn pushed top to $8.70 on [SER Fae) n & 8 + B|paomeor .. 3. 3 3 + | — mostly . 210-220-pound butchers, | Celanese _...... 13% 13% 13%. RemDahd a jf 134 124 — 3 lTimes Special some outstanding lots of hogs scal- | Ches & Ohio. 28% 328% 28% oi. Revublic Stl... 144 14% 14a — % | WASHINGTON, April 14.—Indiing slightly above and below that |ChicGt West Ry va “is Ja — ‘su |Revere Sop... 1h 134 104 ooo. ana is show spending $600,000 a range also making the limit. Pack- [Ch & yo. 1s 10 1 Zn Re aon 3. 3, 3, ... |year to care for insane patients, ing sows gained 10 cents to 15 cents | Shi Feu T Va 2 A... ichfeld O1l.. = 5% 5% + % |whose insanity is caused by syphilis, to bulk from $7.35 to $3, mostly $7.50 Chrysler wer 444 44 dale —ly faway is 5% M% 4% + % Dr. Verne K. Harvey, Indiana to $7.85. Solgate'P-P --- Bh 812 Bla + 181Si Jos Lead... 31% 31% 31% + 1% |Health Director told a House ComThe broad demand for slaughter | Col Gas pf A__ 62 e3 ...U [Schenley Dist-20 20 3%, :::: |[miltcetoday. she-stock which has characterized | SOmWIth & So i% 14 10... |Servel me. 12% 13% 12% = 'y | He appeared on behalf of the the fat cattle trade to date this|Cons Edison .. 15% 19% 19% ....' |Sparp& Do... 4 4 4, .... |Bulwinkle Bill to appropriate funds week featured today’s cattle market, | £905 O00 0 2% % st Llicimmens ..... 6 16 16° <u, (for carrying on a nationwide fight and both classes ruled strong and | Cont Mot ..... 1 Mp 1p T 7 80C-¥Yac 13% 13% 13% — J |against venereal diseases under the active. With an uneven heifer mar- Corn Prod ..... 5912 59%) 592 .... South Pa 11%; 113 2, ‘**'s. | direction of the United States . a1" | Crane Co '..... 17% 21% 27% + %|s c 8 %® 1 1% — ket there were scatered sales which | Crown Cork '.. 29% 2912 2032 .... |Soduth Ry ..... Te Th vs — 's | Health Service. show as much as 25 cents higher. | Crucible st Il 36% 26 28% [1 Spiegel Ine 2 % "y,| The measure provides $3,000,000 Scarcity especially in cows has dic- | Curtiss Wr A. 167% 167% 16% + % Std S BE aves 20 Sh a + a the first year; $6,000,000 the second tated the trend all week. —D— : Std Oil Ind 29% 29% 29% + is|and $12,000,000 annually thereafter. Not enough steers were marketed Deter & Co ... 20% 20% 20% — % Seo 21% 10% 47% — This would mean about $70,000 here today to test the price list in De Hu, a 8% $4 — J4| Stone & Web. 7% 1% 7% — 1,1ior Indiana the first year and at the this division, but a few loads sold | Diam Match .. 22 22 22 4 ia Ty 4% 4% 4% — 4 peak would be less than half of the at prices on the up side as com-| Dome Mines ... 83 51% 53 + til GRAS SI aTh 17% 1% 1 1c|Dresent cost of caring for cases pared with previous strength this|Du Pont ...... 103 102% 102% .... |Swift Intl .....2¢ 24 4" — ig| which might be prevented, pr. Harweek, Of interest in the steer alleys East i Be jo Texts © = : vey declared. was the sale of 48 head choice 1017- | East Kodak 144th ih 144% ... gxas Corp. . 8% 39 + % Elec Boat ..... — Thermoid ...... 3} 3 Ys eis pound long fed yearling steers at Elec Pris he I~ 0 Tide W 4 Oil 134% 34 82 al Applicants Increase -D AX .... eT : $10, the highest yearling price this be aL 38 ot u u, 2, ty, | Transamenies > ‘9% ‘9% 0 ses Effectiveness of the publicity cam season. apeeitinh 2% 23% 33, 1 ii|Trans West Air. 5%. 5% 512 4 'y|Paign already carried out by Dr. Other steers at $9 graded good | =F 20th Cent Fox. 20% 0 4 ere Thomas Parran, Health * Service scaling around 1050 pounds, with [Florence Stove. 21% 21% 21% .... es «++ |head, was shown by the fact that some plain and medium lots at $7.85 RAS fon B&P ..... 10 10 — y,|the number reporting for treatment to S835 Most heifers cashed from | gen Cable ..... 3 8 8 .... |Union Carb 87% 61% 61% + 1 [abt the public clinic in Indianapolis : S Gen Electric 33% - 33% 33% — % | Un Oil Cal 19% 19% 193 y $7.50 to $8.50, with nothing very de- | Gen Foods 6% 26% 26 52 | Un Paciife ..... é93; o3if 19% + Jalincreased from 700 to 2100 monthly % + 5 2% 62Ys 62%, ” irabl lable. Beef bulked | Gen Motors 32, 324 3214 — 3,| Un Pac pf ..... 67% 67% 67% between January and August last sirable avallable. beel cows €d | Gen Pub Sv 1% 1% 19 Un Aircraft Cp 3% 23 23 t+ = at $5.75 to $7, cutter grades $4.25 to | Gen T&R ..... ne 32 0 so Un Blea. Opis Tn 33% — %| year, Dr. Harvey testified. $5.75. Vealers held stead d h Gimbel Bros 6% 6% 6% — ip|United Corp ... Bs By, tay Ih Federal aid and leadership, over . Vealers steady and have | Goodrich ...... 3% 13% 13% — 1 |Un Gas Imp... 9% 9% 9% % [13 or 14 uld d / shown little change since Monday, | Granby ... . i% in MT \Usieatna.. 6% 62 on — 1 Or 14 years, wo 0 much _to the top again at $11. Ba T - 22 22 22 3 8 J 3 Realty oa 41, a i... ‘8 | eradicate venereal disease, Dr. 2 1/, u 54 3/ There was a good demand for the | Greyhound Cp.. 9% 9% 8% % 34|U S Steel ...11 45 an Li 1% Harvey declared. He said that an effort along this line was launched less than 300 head of lambs on sale He : duri the World War. but: di and prices advanced 25 to 50 cents. [Harb Wak .... 10 © 19 19... Siang the World War, bu die Best wooled lambs in odd lots sold | Hershey pf .... 80 80 ma BUYING TREND LIFTS : , cece 80 -_ 1 . at $8.50, with most of the crop kinds | Homestake . 56% 56% 56% + 3 For) omen en oun > from $7 to $8. Choice around 90- foe olis tal clinic, 8% 2 : / Ill Central ..... 8% = 8% 8% “0 prenatal clinic, 8'2z per cent had pound shorn lambs made $8, With | Incpiras ' ts + Bb hilis, D ; piratn_Cop . 10% 10% 10% ... syphilis, Dr. Harvey said. Children others from $7.50 to $7.75. Springers Bifrion Rub a 3a 3la +n : admitted to the James Whitcomb 3 Vie E \ 1/ b Vere Stent, hie Slaghier ewes nt Harvester : eal 6ls 61st 0 ; : Riley Hospital from rural areas scarce warrant more J 46% — 1% ls ' , | show between. 4 and 5° t in3 nt P&P pf . 1] per cent in: than nominally steady quotations, |Int Tar -.... MW Mw Mw Too Anticipated Export Demand fection, he asserted. : Johns-Man .... 17% 11% 17% .... Sustains Market. Program Approved —K The proposed program, already 1500 | Rayser Jul .... 11 1 11 6440 | Kroger G&B .. 16% 15% 15% — : .» [approved by the Senate, would per7000 oe Ya s Ye CHICAGO, April 14 (U. PJ)—A mit Indiana to provide’ adequate 30 L-o-F Class... 216 ame ams — 3% buyers’ market continued in mid- | facilities in rural areas, particularly a CO 7... i ¢ 2800 | Loews ©. 2034 03 © x iy % session on the Chicago Board of Boman am Jnnreate ihe “see a * . . 2 5197| Lou GEE A..5 15% 15% 18% +4 rads today and prices picked UD | on educational campaign and offer ot arouse a TM ractions. instruction to doctors on the latest Barrows and Gilts— Melntyre Eo! By, 38 1B, + | Atthe end of the first hour wheat | techniques, Dr. Harvey testified. 140-160) Good and choice. .$ 7.95@ 8.55 | McKes & Rob . 6a 6a 61h — ‘1 Dr, Herman Baker, Evansvile (160-180) Good and choice.. 8.15@ 8.60 | McLellan St 6 8% 6% + 3 |Was % to % cent higher, corn was i inn ote ? (180-200) Good and choice.. 8.40@ 8.35 | Mead Gorp .. 107s 10% 10% : 1 president of the Indiana state medSoH) Got thd Shoes” 148 AR Mel th, ih MR aR Co.) unchanged to % cent higher and | ica” society, urged passage of the - C. . 4 . 1 1 1 + (250-290) Good ‘ana choice . 8.05 8.35 | Motor Whi .... 30° 30° 35° _"y|08ts were unchanged to % cent |bill at the hearings yesterday. He paio0-350) Good and choice. 7.90@ 8.35 Mueller Br .... 14 14 14 —- % higher. ~ | pointed out that syphilis germs are (275-375) GOO .........e.ns 7.90@ 8. - no respecter of state lines. (350-438) 0.1 115% 8:00 Nah Kely .... 814 84 84 — % H. C. Donovan, Chicago crop °X- | The hearings are before the In-4425-450) So ee 156 1.88 Nei Caen hep. 2 134 19: 2 pert touring Texas, again reported | terstate Commerce Committee. Slaughter P : : at Dairy ..... + i |that on a long swing from Plai IT NE TR T BV NTE =. Nat Gypsum ".. 6% 63 6% — g irom Flain- : (100-140) ood and choice. . he 2.13 Na i les a i 20% 26% 20% hy view to Amarillo he found damage FOREIGN EXCHANGE CATTLE No Ame: rail. %s% 1%, 13% T a; |to wheat smaller than had been ex- i OR. Anti] 14 (17. P.)- Forel som ars, 700— No Pacific ..... te % Th — 4 pete Ruothes report, fiom Lhe rates on Se . Sen oice 5@ 9. —0— , Neb., sa oday that the 3hie ates. Nes Change (900-1100) Choice : : i 3 Ys 3 ’ : England (pound). (1100-1300) Choice : 00 | Oliver Farm Fa 24% 20% Ma + Y% |state’s wheat crop is expected to be |England (60-d. b. r. 2°43 98Y4 1.00% (1300-1300) Choice 935010. dir Sh the best in eight years. In spite of |GaRada (dollar) ... 28 0:18 +000 (o08ciion) oes on . : : Params Pict i 7% 7% 1% — 1 | these reports and a lack of export Ltaly, dire) | ees 026% ne (1 00-1300) Sood er iE a > Perey CAD a3 o37 o3t I, demand because of holiday condi- Germany aR) 4022" 1'0003% {330-11600) Medium 5@ 8. Penn RE hr 16% 167 16% — 3 [tions abroad, there was some buy- | Germany pe mrk.) 2400 i ( - ) M ) 0 ae even ia witzerlan 2 (150-1100) Common * ipiaini;. soa 329 Phillipe Pet . ne 34 : 34% 3h + % fhe hots PPpaseny In shunipaiion Holland Tpuilder) ° Saas 13002. Steers and Heifers s © 48% 1 i alter, the | yn f 0 ; (550-150) Good _........... sm an {PISSeT SO. BY Bh 19% + % ong Easier . holiday. Wheat re- Denmark | & Crone e 2 7 + ford eifers ceipts were 46 cars. ustralia (Doun 3. . = Radio ........ 6 8 6ls + Y% Austria (sc ing) * (Unguoted) ta un 3G 3.13 Ragle of N aoe 8 48 X17 | Corn prices firmed in sympathy Gaechoslovakia (kr.) r) 0348 Loe (550-900) Common ......... 6.50@ 7.25 : with wheat. The continued steacli- : xian (narkis). . .0001 000054: all Weight SM INVESTING CO.’S ness of the leading cereal induced |Jusoslavia 478). 0335 ods Sat sass iv inves ve. 8.50@ 7.00 (By lov. Blrs. Conf, Ine) new corn buying and early losses Foland (zloty) 4 2 - 1890 ee edium "LLL "8 : ortugal (escudo) . : Common ....1llllliiu 8.999 8-52 | Ac Pd 2d 10:18 10.83 Invest Bank Corps: yor erased. Corn receipts were | R588) (Gen) 075 90007 Low Taditer and cutter .. 4.25@ 5.75 Std Oil 5.12 5.87] Bnem Bl 3.25 4.25 cars, Argentina (of. pes.) 3325 +.0007 Bulls Bks NIC 310 2.15 1 Hos < 19.64 12.18 —— Brian (mie Seso 0). 3 vee sine einie Yearlings Excluded (all weights) — Bes Ind 13:68 14.61] KeyCP-B-2 18.44 20.19 WAGON WHEAT Chile (peso) car. 400 rare Good (beef) ..... .......... 8.75@ 17.25 Broad St 20.94 22.40, ‘ CP-K-1 12.08 13.1 2 SY grain elevators are paying for No. | Pe: (301) fae, 2435 ciciieinnens (all weights) Medium ...... 6.25@ 7.00 | Con Inv 3.45 3.80 CP-K-2 8.03 8.19 red, 73c; other grades on their merits. Uruguay (peso) 4300 © ....i..... Sa) rem. rexsny S2a 00 IY I a gl Regalo By Qf Oats, (silver aos 2600 (n) 0108 Cent Tr : 12.95 | 26¢. y y 2906 Fotis Co A, Hh {CRSA ie UR Nar ” (All weights) Choice ......... 10. ; 8 p : J a weights) Medium aT 1020@10:0 | Cp Tr Shs 1 Mas yop! gH Le N. Y B d. oof bra on OH od 8 LE, 18 - ¥Y. DOnAS | CHICAGO PRODUCE Calves om Tr 3.96 ... X. Slot, Inc: By United Pre Eggs—Market firmer; Jeceipts, 31,508 —Receipts, 616— 48 7.84 55 cases, +. Fresh graded firsts, cars, 17%c; pts, Dps Ins A 2. - Aft 7.24 7 hn st a 16% (250-400) Choice ........... 1.50@ 8.50 | B 2.28 Bldg Sup 6.34 6.81 BOND PRICE INDEXES Joss thin To itt fits, 14%50; cure Good. i 62 ‘75 | Etn Hwrd 15.51 16.65] El Eqt 6.26 6.79 oss nan ears, he ac: Jp Sin: loves Medium esi: 5.7 ‘23 | Equity Tr 20.00 23.00 Ins . 759 822 By United Press rent receipts : ok ge Common | ...0"" 325@ 6.13 | Fidelity 16.51 17.78] Mach 6.75 7.31| 20 20 vo |Dacked firsts. lave; storage. packed ex Feeder and Stocker Cattle Fiscal Fund, Inc.: Metals 7.53 8.15 Indus. Rails Util. Bonds Biitter_—arket weak; receipts, 848,442 Bnk Stk 2.31 2.56] Oils 8.19 8.36 at oii Steers— Ins Stk 2.82 3 15 RR Eqt 6.12 6.63 | Yesterday ..... 775- 533 901 13.6 gross Joun extra firsts (90-91% score), (300-800) Cholce ........... 8.000 8.50 | Fix Tr A 71.15 .. teel | 6.54 7.09 | Week ago ..... "6.2 532 888 12.3 Blaltic: extras on SSE persis amiss] Choe [LIT ARB RR| ey 801 NATL ue 8 Monn aee lee sia wwe aed | Bead indies, Be ceniiied 1d (800-1030) Good "1IIIIlIlI 750m 8.00 | Fd 1v Ic 10 Oi Ls REIN Year age ...... 918 954 126 | 9e.e|scorels 24ci centralized (38 scores), 2 (500-100) Medium “0111000 6780 180 | "fy 0° "407 363) « 1088 303 .|2 Years ago... 915 922 1050 96246 trucks, Ducks 180320 Ce ecse. ji Heifers— mon x........ 6.00@ 8.75| «Tr. B 3.69 Rep Tr 7.85 8.351938 High ..... 830 70.0 954 82.5 |hens, 19@31%c: spring chickens, 25@27c (550-750) Good and chotce . 8.15@ 17.5 Gn Cap 26.65 28.66/ Rep Iv Com 22 __. | 1938 Low ...... 49 408 sus ney |\Ehomm Hens 184; Sooners 13 rhe Common, medium 6.00@ 6.75 Group Shot dis Spen Trek 13.15 13.84 | 1937 High ..... 95.0 101.2 106.0 100.7 ake. } Ihyers, @?5120; broilers, SHEEP AND LAMBS Agric 1.01 111std ull 3 oth 1937 Low ...... 801 69.3 923 811 (Shee se—Twins, BLe%: daisies, 14@ -— ipts, in : . rvs x ; longhorns, Lambs— sesipis, S12 Petrol .98 1.07 Tr St Iv C 2.07 ....|1936 High 948 100.7 1062 100.2 | “potatoes—Supplies moderate; demand Choice Cesstegsrareaessesiny 8.5@ 8.50 ERB 8 3 Lo " 81" 28 . 1936 Low ...... 90.0 84% 103.3 93.3 flow; Ta Lenore, Russet Bur-. Moosum vevnvis tirrssbranaianrs 7258 is Shee 91 1.00 ares (Sopyright, 1938, Standard Statistics Co.) banks, Sl35a140; @ North Dekots Bar y : ; : i .15; Minnesota an a Common ............ crises 6.00@ 7.20 he OD rs 1518 16s Well Fd 11:82 1243 oDEW YORK, April 14 (U. P..—Bonds | Opios. “$1.10; Wisconsin Rou Whites, Good and choice 3 Ne 4.50 pened irregularly lower. [email protected]: mmercia Osc. New Common and 108 amt jiock—Supplies libelal: “demand ow Tae AGO, April 14 (U. P.).—Hogs—_Re- LOCAL ISSUES L 30 (truck sales Tariots), fotida Bliss ceipis, 3 2000 Jneluding 0 re Shah: (By Indianapolis Bond & Share Corp.) Arrivals, 81; jon track, 292;-shipments, | good and Se: 170-240 jghs $8. 50a8 ano: | The following quotations do not repre- 792. 250-280 1 $8.30@8. 50, 290-350 Tbs. $8.15 | Sent actual bids or offerings. but merely @8.35; 146-160 Tbs. $8.2578.65: good 350. | indicate the approximate market level | v°7 Gen 550 1b packing sows. $7.25@7. based on buying and selling- inquiries or attlé—Receipts. 4000: calves, 1200. Steer | "6°60t transactions. trade slow, steady: muc. ere or BONDS wanted: weighty steers scarce: best $9.65 Bid Asked on 1300-lb. averages; 925-1b. yearling | American Loan Co 5s 46- Li 95 98 steers. $9.35; stockers scarce; hardly | Citz Ind Tel (TH) 4%s 61°....102 105 ® : enough cows or heifgrs here to make a [H Ae & Tel Ft W 5128 55 ....103 105 i market; weighty heifers, $0.25; bulls |H Tel & Tel Ft W W 6s 43 .. 104 13 O 0 n 14 steady; vealers steady to 25 cents up; D [nd Asso Tel 428 65 .......... 104 106 A & | Tepe, VEE Si DS ea EE Savings and Loan e “ ailway Inc 58 97 ........ rects, De Los Bulk 1a Temps. nterstate ‘Tel & Tel 5%5 63 .. 86 89 vings and Healy t6srons. Tan 10 cents ower "os | 100 Water Go, os 66 00 oi; Association weight te, S81 pe (choice Job. Morris 5 & 10c Stores 5s 30 _. 9814 101 28 South [Mlinois St. clip; @ ncie ; 8.40" top arouny sang; Toolskins, $8.25@ | Noblesville HL&P 8% i Ara TE Pr Tel, ae 6s 47 . YETTE, P. — 5s 59 HIGHEST PE] Market 10 cents Higher, 3 200. he Hos |B N2 lbs. [email protected]; 275.335 28-20% 10000 |] 3 [15 GO 50 160-200 1b. B20 [email protected]; pigs, ow ? JOB ; roughs, $7.50 frac. Term Co. 5 INDIANAPOLIS Calves. [email protected]; lambs, $7.75, ; » TE ea wa —— Beit RR St Yds com .. .... BANK STOCKS psp ote A Wo : Bid Asked Home T&T wi 137 E. WASHINGTON SE. | N ¢ Bank of America ......ccc00... 41 43 Ind Mich 1%. Leveaves 7 cos | Bank of Manhattan ihit:iers 3 224 | ma v Co 6% 1 Bank of New York Trust ... 340 349 Ind Hydro Ele 1% oil... g it | Sentral Hanover na 235 HB [fudnis Pwr &lspaen ....B nN : Chase ........ Line, Nat Life Ins... +... 22 25 Notice of 21st Consecutive ail xN Ind Pub Serv. Co pfd 5%% sav. 48% : Jy Distributi Continental ©. ..ii51. 0 PN Oy . oh a Quarterly Distribution of EXChange ecco... IN, 12d Pub i yg io i 17% : EEE Notions bt ecm BB | nr anmEnly INCOME nty ..... ree TO Gas & Elec 4.6% pid : / 80 rving .-....... “oes Ferre Haute Elec Co % 93 08 QUARTE Y Manufacturers Sos Union Title Co «22 25 j ‘National City ..... Van Camp Milk Co pf’ . 60 SHARES Inc. New York Trust .. Van Camp Milk CO COM ccceee 10 11% 7 Title Guarantee ... (By M. P, Crist & Co.) | [aMarket St Investmens Corp. 20.84 22.40 The Board of Directors has : rE authorized payment of the reg- * age a. i See Final Edition LOCAL PRODUCE Slat quamerly diseibution of : . cents per share for the Poultry-—Heavy breed hens. es Leghorn of the Times hens, ie: h cavy broilers, 1% t Yr Be. . period ending Apr il 13, 1938, for 3%; Legh ora broilers, 1% 103% ibs., Checks will be mailed to sharerooste: cl Stock tati PIL, iad Pa an Rn 55 boldass a7 2, 1958 : 8, {4 i osing Stock Quotations a fit f 3 met 'dedition of 15 ‘sents HAROLD F. DUGAN | or eac case E 3 and Or Late News | | mage. : hi : ip Soars

I —

What $5 a Month will Do!

All accounts INSURED up to $5,000 by the Federal Savings and Loan Insurance Corp., a Federal Agency

Save $100, $500 or $5,000

Open an Account in Any Amount From $1 to $5,000 Accounts Opened by 10th of Month Earn Dividends From 1st

Write for FREE Savings Bank and Folder Explaining INSURED Accounts

DIVIDENDS SPEED Savings tnd

other groups can be paid. Unjust | /

1 the Congress, I, as the President,

must by virtue of our offices, seek the national good by preserving the balance between all groups and all sections. : We have at our disposal the na‘tional resources, the money, the

,000 | skill of hand and head to raise our

economic level—our citizens’ income. Our’ capacity is limited only by our ability ‘to work together, What is needed is the will. The time has come to bring that will into action with every driving force at our command. And I am determined to do my share. The responsibility for making this national will effective rests on every individual whether in the Government or in industry, or in finance, or in labor, or in the professional fields. Every man and woman in the United States has the great privilege of making this will productive. And the beneficiary will be the whole of the American people. Certain positive requirements seem to me to accompany the will— if we have that will. There is placed on all of us the duty of self-restraint. We still rely on personal responsibility—a responsibility guided by a common conscience. That is the discipline of a democracy. Every patriotic citizen must say to himself or herself that immoderate statement, appeals to prejudice, the creation of unkindness, are offenses not against an individual or individuals, but offenses -against the whole population of the United States. {se of power by any group, however situated, to force its interest or to use its strategic position in order to receive more from the common fun than its contribution to the common fund justifies, is an attack against and not an aid to our national life. Self-restraint implies restraint by

articulate public opinion, trained to |

distinguish fact from falsehood, trained to believe that bitterness is never a useful instrument in public affairs. There can be no dictatorship by an individual or by a group

in this nation, save through division fostered by hate. Such division there must never be. Amid the voices witich 1 now seek to divide group from group, occupation from occupation, section from section, thinking Americans must insist on common effort in a coms mon endeavor and a common faith in each other. Let every business man set out to use his strength of

‘imind and heart and his confidence

in’ his fellow man and his country. Let every labor leader find not how work can be stopped but how it can be made to proceed smoothly, continuously and fairly. Let every public official consider that his task is to use his authority so that the service he renders is adapted to curbing abuses and helping honest effort. Let every one of us work together to move the life of the nation forward.

We, a successful democracy, face a troubled world. Elsewhere schools of thought contend that democracy is doomed to failure, They tell us that free speech and the free exchange of views will destroy de= mocracies. My conviction on the

contrary is that the United States

retaining free speech and a free exchange of views can furnish a dynamic example of successful Gov= ernment, provided the nation can unite in practical -measures when the times call for united action. The driving force of a nation lies in its spiritual purpose, made’ effective by free, tolerant but unremitting na< tional will. In the western hemisphere the» good neighbor policy has so strengthened the American republics that a spiritual unity in our relations now prevails. Can that good neighbor message be accepted and practised in our national life? If we accept that high and splendid road this free democracy will give successful answer to the fears and questionings which today trouble the minds and souls of men and women the world over.

FRANKLIN D. ROOSEVELT.

CROSSWORD PUZZLE

HORIZONTAL Answer to Previous Puzzle

14 To classify.

1,3 Viscount 2 STAT 16 Unstable. Ferdingnd REMWIHE REIONINAILR] 2 corified place builder of a A E HRI 22 To wound. great canal. JOILIDIE INEER PIOISIEIS] 25 Office. 9 The canal he N TIOIEIS T Ul 26 Fur. built. E H ClAIP] 28 To 13-Mad. EH LIS|IOLIO}! |R attitudinize, 15 Fence bar. |YEIWODENIHIEARTIMOIDIE] 29 Net weight of 17 To observe. |E : AlAM a container, 18 Schemes. EIX 30 Beast of 19 Spaces : burden. between A E t|SITEREIRIE] 31 One who infant's skull 1 : " Shae, : bones. FE : 'o shower, 21 Italian coin. 38 To bind. by birth. 4 To lend. 22'Throng. 39 Mineral VERTICAL 36 Backbone, 23 To shatter. springs. 1 He was also a 37 Loom bar, 24 Hops kiln, 40 Thin sliceof 38 To carry. 25 Chaste. bacon. 2 To enroll. 39 To twirl. 26 Musical note. 44 Upon. -3 Convulsive 40 House 27 Mountain, 45 Covered with tic. covering. 28 Harbor. ~ spines, 4 Being. 41 Compass poind 29 Sesame. 47 Father, 5 Southeast. 42 Narrative 30 The greatest 48 Ache, 6 Irregular, poem. number. 49 Tree. 7 To gasp. 43 Headstrong, ‘81 Window part. 50 Sloths. 8 To perch. 45 Capuchin 32To rely on. 51 He was a 10 C8nsumer. monkey. 34 To skulk. world famous 11 Snaky fish 46 Pound. 35 Beer. — (pl.). 48 Portugal. 36 Ulcer. 52 He was = 12 Relish. 50 Form of “a.® - 0 {Hl [iz i i > 4 » r 2 - fs

PAGE 15

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