Indianapolis Times, Indianapolis, Marion County, 28 April 1938 — Page 19

‘ MH oy EE ad oo ¥ 3 - > : y 2 La . 3 ‘ . : ¥ <4 ' ‘> § - 2 : : er v 8) . i] ” » & ayo ot a pe - $a / [of * q » ’ 8 a { C 0 og Lv fH 4 a a d ® i > | { La b : . gd ie 3 @ ‘ ¢ L 2) .. » 3 * ’ i s s 3 + ¢ ’ * ® o ® » o & «t *, ® 4 ‘e * + é ’ Ja

: THURSDAY, APRIL 28,

EXCHANGE LEVELS AFTER LOWERING PREVIOUS ADVANCE

Early Losses Range

Up to Two Points.

NEW YORK, April 28 (U. P.)— The stock market was steady in

- early afternoon trading today after

a morning decline that wiped out all of yesterday’s gains. The list leveled off at losses ranging from fractionseto 2 points. A few issues came back slightly from the lows, but recoveries were small and there was no disposition to buy. Dealings were light. Steels were down fractions to more than a point. Most coppers eased a point or more. Farm shares slipped back. Chrysler sold at 41%, off 1%. Westinghouse Electric lost 212 points and Texas Corporation 1%. : ss = =

Today’s Business At a Glance

GENERAL BUSINESS

American Institute of Steel Construction, Inc., reports March fabricated structural steel bookings

83,977 tons vs. 54,996 previous month

and 206,231 year ago; first quarter bookings 218,847 tons vs. 461,837 year ago; March shipments 100,956 tons vs. 79,568 previous month and 142,995 year ago; first quarter ship-

1938

Lightweights Hold Steady in Mild Decline

Hog prices suffered a mild loss |S

today under slightly increased sup-

plies, according to the Bureau of |&

Agricultural Economics. Prices on weights above 160 pounds were from 5 to 10 cents lower, with most loss on offerings above 210 pounds. Lightweight hogs were in good demand and those scaling downward from 160 pounds managed to escape fully steady. A top of $8.35 was again paid for good and choice weights scaling largely 200-210 pounds, with several premiums of 5 cents on outstanding consignments in various weight groups placing some lots. scaling slightly above and below the mentioned weight range at the top money. Packing sows were unevenly steady to 10 cents lower at $7 to $7.75 for good offerings, mostly $7.15 and above.

Receipfs of 800 cattle included only a scattering of steer cattle and the market on that class was not thoroughly tested, the few deals approximately steady. All other classes of cattle cleared actively and at strong rates, all grades of cows in broad demand. A package lot of choice shorthorn yearling steers made $9.25 with most me-

THE INDIANAPOLIS TIMES

NEW YORK STOCKS

By United Press

—r— Net High Low Last Change Alaska Jun .... 9% 9 9% lL... m Chicle ..... 104}2 104%: 10402 + 1 i A 3 33 .... Am Loco ..:.... 17Y 17% 17% + Ya Am Met Sl 31 31 — % Am Rad & S S 12% 12% 12 .... Am Boil Mill .. 1% 17 17 fan Am elt ..... 38% 38% 38% + Ya Am sf Fes 21% 9 % 31% — Am b B .. 69% 69 2 892 ... A Water we. J. 5% 8 8% ... Anaconda 85% 28% 28% + Ya Arch-Dan.M . 241 24), 24 2. = Ya Amour TI ..... 4 % 4% 4% — Vs Armstrong Ck .20% 20% 29% —1%a Pe Balt & Ohio .. 5% 5 Maas. Barber Co ..... 15% 15% 15% — Yi Barnsdall ..... 132 - 13% 13% + Vs endix Avn ... 1 1 1 + 4 Beth Steel 4 48 48 . Boeing r 21% 277% 217% orden ....c... Ya 16Va } 1a yy Bory Warmer 21% 21% 7a a utler Bros . /2 /2 /2 ‘a Byers. AM ... 8% 8% 8% — Va Cle Ci t H .. 73% 1% 7% — a. = 2 mT Century Rib Ya 415 41s + ia Cerro de Pasco. 3 3 35 + % Se. ay ay Toa 3 I we 4 ig — Co gate-P-P 8Ya 7 14 .vse gn 1 0, A Comwith & So pf 33% 3308 33% 4-1 Cong-Nairn .. Yn 20% 208 — Ya Cons Aircraft . 16% 1508 16% +4 Ya Qons dison . 3 a 5 2 3 Ya — Y% on AN... — Z} ont Dia FP .... 6% 6% v = Crane Co ...... 3 28 28 ceive Crown Cork 28a 282 28)2 .... Curtiss Wr 4% 4% 47% + Ya Curtiss Wr A 18% 18s 18% — De Deere & Co ... 19% 19% 19% — Deisel W G ... Illa 11% 11a — Ja DVRGW pf ... 1% 1; 12 .... Dixie Vortex .. 15 15 15 sees Douglas Air ... 433% 43% 43% + % Du Pont ......100 100 100 + —F Eaton Mfg .... 13% 13% 13% — Y¥% Elec Auto L ... 16% 16% 16% + ¥% Elec Pwr&Lt .. 83; 8% 8% orn fm Flintkote «ees.. 15% 15% 15% — % aC Gen Cable ..... 9s 9% lg — Vy Gen Cable A ., 18 18 18 ley Gen Electric ... 34% 34% 34a — a Gen Foods ..... 67% 267s 267 + 3a Gen G&E A ... 7a V3 Ya ui. Gen Motors ... 31 31 31 Wat Gen Pub Sv ... 2 2 2 + 14 Gen Thtre Eq.. 11% 11% 11% -- 3% Granby ........ 1% 4s 4a + Ya Grant W T .... 2 22 22 sae Gt North pf ... 2s, 15% 15% 4 Greyhound .... 8% 8% 8% . ef Hack Wat ..... 24 24 24 -— Oy Harb Walk .... 21% 21% 21% 4- 34 Hecker Prod es 63 6% 6% + Ys Herc Mot will 31 11 — 1 Holland Furn’ . . 29 29 29 veivy Hupp Motor .. 7 Ta V8 ceee

Tm

Ingersoll Rand. 79!2 179% 179% + ¥

ments 268, 287 tons vs. 345,125 year | dium and good steers $7.65 to $8.50. Inspiratn Cop... 11% 11% 11% . ago. A short car of strictly good 695- |int Hyd EI A .. 8% oi gir : Engineering News-Record reports | pound heifers scored $9.25 for the Ini M Sarine.. 2 3% a2 -— construction awards this week $38,- | week's heifer top, most heifers grad- | Int P&P pt .. D9 MY 2 Ly 197,000 vs. $39,430,000 last week and | ing medium and good at $7.75 to I eT. ees ‘ 8s 8 8s + J $40,264,000 year ago. : $8.50. The vealer market recorded | Intertype ....c. 9% 9% 9% .... Federal Reserve Bank of New a So gent 2avance Jor Ine i Eon.C 5c Kes York reports three weeks ended |Uubturn in a ivision in ree | Kan 0 eee T% h Th — % April 16, department stores sales in | Weeks, the top boosted to $9.50. Renneeott + UB Hh NB -n New York district 2 per cent over| The first really representative test | Lott, me ...... 1% 1% 1% .... year ago; March sales 12 per cent | of prices in the lamb division this |Ludium StI ... 18% 18% 16% — % below year ago. week was afforded today when close Man. Shirt 0 0% 10% : to 5000 head arrived. Prices ad- Saves 2137 4 8 ORPORATION NEWS : Martin Gl .... 21% 214 21% — J C : vanced 25 to 35 cents, putting the M Sp eg y: got 2 — 5 Air Reduction Co, Inc. March | best fed wooled lambs at $8.50, with | Mo Bac ot -... 1% 15% Sok Z''w quarter consolidated net profit others at mostly $7.75 in only me- —N $795,590 equal to 31 cents a share | dium flesh. Nat Biscuit ee. 20% 20% “20% wes © vs. $1,950,938 or T7 cents year ago. to” Lroximately 10 doubles of good | Nat Blaituers a tix 1a 13. + % Duquesne Light Co. 12 months Soice shorn lambs went at $8, fat p 5 & Lt.. " “ x + “ ended Feb. 28 net income $9,831,950 | With numerous other loads of lower | Ny Central .. 122 13% 12% + 1h scaling down- |No Amer ...... 17% 17% 17% .... equal to $392 a common share vs, | 8rade lightweights scaling d No A 17% 173 4 revised $9,913,823 or $3.96 year ago. herd io 70 pounds going from $6.75 | ak " $9,901 : _ {to $7.75. Most throwouts cashed |Qtis Elev -.... ole + 5 ion a oo ar ar from $4 to $5. Other classes were Swans" Hl Gli soil ik Wa wu ’ _ | scarce, with shorn slaughter ewes | Packard ..... 4 4 4 cents a share on 6 per cent pre quotable at $4.50 downward. Paramt_Pict .. 8 8 8 . ferred vs. $153,167 or 26 cents a Parke Davis 2, 2, = — 3 common share year ago. HOGS Peerless ..... § 32 Be =u Otis Elevator Co. March’ quarter | April penn BR erie, 16% 16% 16a — 1 net income $798,113 vs. $1,306,993 | 18. g 3000 | IS whsess I 10% .... ~ year ago. 8 6046 | Radio ...oee..e 6% 6 q Simonds Saw & Steel Co. March ; S048 | Ravbestor' "1111 8d win an Ta quarter net profit $22,974 equal to 5 | 5; ; 5308 cone s 8 Ya : cents a share vs. $628,016 or $1.25 23 : 1000 year ago. ; 3 . 9540 INVESTING CO.S Standard Gas & ©il Co. and sub- 4 48238 ea : (By the Inv. Bkr stdiaries 12° months ended Feb. 28 po" oo eer” 3 BL Faz BH 1 Asked i hg Hla Asked. net income $2,881,035 vs. $3,465,575 (140- 180) Good and choice. .§ 1500 8.25 Ami d y 84 3 3 nes! Bank : Corps; - nd choice.. > 4 mrx r : 25 14. year ago. (180-300) Good and crioice’: 300@ 233 | Am Bur "1.88 3:30 Inv EC 56s 131 =, an cnoice.. A 3. nv . ol - . . RAILROAD REPORTS (220-280) Good and choice. . ga 333 Bas ind 5a 14.64 x SE.a3 i .64 fh ; i .. 7.60@ 8.10 : .64| * CP- 29 13.2 . Chicago, Indianapolis & Louis-| (200-350) Good and shoice.. 749 33g |Brit Type 30 45 * GP-K3 rk : we .90 ! . A451 ¢ ; . * ville Railway Co. March net operat- Pres Sows— 2 Brd 8t In 21.17 22.64 © CF-52 12.11 13.2 ing deficit $66,619 vs. net operating | (213-373) Good ............ 750@ 7.75 | Can, Inv 38 3 0 Myld' Fd 4.96 5.4 cee sesssesessan = 7 uh S J 4 A income = $80,383 year ago; first fas: 45) Good Crearounas «+» T7.25@ 7.50 | Cmwlth In 2.87 3.07 Mac Toy Fo 4 103 quarter net operating deficit $337,- a edium ...c.eavee 7.00@ 7.50 LA Sh iN “ees N:Wide sec 34 38 151 vs. net operating income $132,- | ™ (100-140) dood and choice. 700m 1.751 Ace 191 eel Natl Inv i62 4.9: 147 year 80 Hi Raitioad a 6.75@ 17.50 5 Ace ma 333 ees Aer Tock s Inc: 18 Delaware udson Railroa 0. D 42 a 3 p Ins A 2:63 .. ; : March net operating income $132,288 £355:500) apis, 744— 250m 55 o B gi 2 11 te Blet Fav & i vs. $492,873 year ago; first quarter | (900.7100) Chole ooo. :::: S.30@ 9.25) Liver 310 sa Mech 14 net operating income $218,884 vs. | (1100-1300) Choice eens : 8290 9.79.| Divid_shs 1.08 1H ones 6 9.04 850,517 r ago. (1300-1500) Choice ........... 9.00@ 9.75 | pat Hwd 15.62 16.77] RR Eat 1 641 $ year ag (750-900) Go0Od ...... siiisee T35@ 850] FOWL Tr 21.13 24.15! Steel 7.140 Mobile & Ohio Railroad Co. March | (800-1100) Good 111.111001000 1056 ¥38 | FAG, J 1TS4N. Am Be, 402s net operating income $71,043 VS. | (1300-1500) Good «.reeriieitl 8.00 9.00 | FIC T 33; 205% Ios yee : .00@ 9. A T74 ....| * 1956 ae ; (750-1100) Medium 725@ 800| “ B - . aos Alr Line Raiiwey_ on. | HE Ho 1a 8 aren AF gieathe iF 14 March net operating income $428,155 Steels 2nd Heifers— 830m 750 “ Pn 3.99 £833 am tn § 4:03 vs. $882,128 year ago; first quarter O Hite Mash Gen cap 2691 38. a4 3ov Inv. “81 et net operating income $738,568 vs. (750-900) GOOd .........e00 T.75@ 8.75 Group Yseenritie: o Digan Gost 13: } 13.49 $1,048,658 year ago. (550-900). Medium .......... 17.00@ 8.00| Aeric 1.00 1.10! “ B 290 .... (650-900) Common ......... 6.50@ 7.00] Auto $1 34 +E 4. . DIVIDENDS Cows WBE Li cD 13% i All Weights— Food. 193 liySuv aA 141 .- Allegheny Steel Co. regular quar- Sood soced sesterisenes venue 8.300 7.00 Mining 108 1.18 8unysd cy 9.06 terly $1.75 on preferred payable Com n Ll 5:30@ 6.00 teel 95 104 “ B 301 0, June 1 record May 14. Sutter and cutter ,,.., 4.25Q 5.50 y,;,3) ovr 44 a4 «ond 3 Armstrong Cork Co. directors took Yourlinss Exelud Es inetr nv 15:34 1 490 Tre td Ind oy W #1 8 — ities > 9 no action or interiin due June L. Good"! Bm ect) uded (all ME Ta Tr rp 1.15 1. 7) 7: 14 138 0. quarter weights) medium ..... ay LH ae 10 : Jas SS 1 Cutter and mon, 8300 5.23 " Vealers "Midwest Oil’ Co. regular’ semi- | (All TEMS Gus. 2m ba LOCAL 153UBS nnual 50 cents on common payable | ALL weights) Good ...01111110 630% 2.00 | “Pn allowing. suotations do met rem 3 CE Cull and medium ....... cove 450Q 630] are TolOWing OO ay at Searey un . : Calves indicate the approximate market level New Jersey Zinc Co. 50 cents on —Receipts, 620— based on buying and selling inquiries or - t transactions. common payable June 10 record | (250- 400) Choice ......... <i 7.50@ 8.50 | recon vod ea. itll . 63 ; BONDS May 20 vs. like payment in previous em 5738 6% Bid Asked quarter. COMINOT =: ecris 5.25@ 6.75 | Arion Loan OO hacer ti'103 10 (Copyright, 1938, by United Press) Stossel" 28d Stocker Cattle i Tel & Tel Ft W 5%s 55 ...103 105 EXCHANGE (500-800) Choice ........... 7.25@ 8.00 nd “Asto Tel 410 he BB FOREIGN (200.1000) Choice . 7.25@ 8.00 | Ind Tel Co 5s 60. .... ....... 95 98 NEW YORK, April 28 (U. P.).—Foreign | (300-1050) Good .... 3308 5.00 nd Railway Inc Rel Sigs aa. 3 8 exchange irregular. Following are noon | (500-1050) Medium ... . 6.75@ 7.50 | Indpls Water Co 3%s 66 ...102%a ..... cable rates on foreign exchange: Net Common ......... 6.00@ 8.75 Morris Water Works 5s 8 +102 2 104% Ss pS Ss (Bates Change He 5505750) Good and choice.. 6:15@ 7.75 | Muncie Water Works 5s 5 [Lao bs England (pound)..... ? —.00 1-16 mmon, medium. 6.00@ 6.75 Noblesville HL&P 5's 9 «...100 102 Eng. (60-d. bill rate) dois —.00 1-16 om AND LAMBS Ohi 0 Tel a ce 6s 47 ....... 98 100 Canada (dollar) .... Pub Tel 45 656 ........ vesey. 98 100 Fare) 110 Lambs shor) ERny Sm Bein” theiga) ee : “Choice BO nas saiansins 7556 3.00 | TH Water Works 5 56 .....100 102% Germany (mark) ... .4023 2 —.0000% | Good ......... Seseseersrens q 3 es Germany (travel mrk) Medium «v.coceseeeceoreies, 6.25@ 7.25 | Trac Term Co 5s 5 ceern 49 B52 Switzerland (franc). Common “LILLIE 8500 6.23 Set RR-Sb vas BIO oan Hollan uilder) ... § . + | Belt RR-St Yds com ..... ves gredes (font. Gand ana crocs .......... 30a on BOL BR, or pd Loni te Sorway (krone) cose Common and medium ...... 2.00@ 3.50 |Home T & T Ft W 7% pid.... 50% 53 enmar wes NN Hook Drug Inc com ...... er 13 14 1i ound) .. Jigostants Finer)... REE Rnd The rol RhEHofE 104 Gobsect Gir ia 00 a Slan (drachma) x Te a 08, To 100 So unr Ane ep! Ind Hydro Els Hie 1% pid ...... 42% 35% Jugosiavai (din 110- 340 Tb. $8.15 8.30; 230-300 Ibe.. Sr 2 jndpis 2% & Tr ba hl se gre 30 New Zealand (dihar) : 310-350 ibs., $7.75@8: packing sows, | Jndbls Ewe Did 8% sues ss 8B Poland (zloty) ....... Cattle—Receipts 4000; calves, 1500: good XLine Nat’ Lite 3 22% 25V2 ortuga .. and choice steers and vearlings. strong: (N Ind Pub Serv 8 pfd 5%%. : 51 uma 3 (leu) seve Banc 10@15¢c Per fe eder Ie Bearce Ind Pub Serv 67 B eereessien 31a 5514, ATESILY (oie Deno SES aio, Sn ir PE SLR ER, 1 non L2 | MD csi esnns = (milrei wens . | 86.50 dow few p | Pub Serv of Ind 7% ......... 2 291% e Brash (aor 3 $6.65 any tier. ShusaEe offerings 1 ght Piogress Laundry Co com : i4 2 * Peru (801) ...... gilerings, $7.504@8: choice vealers. x 2nd CO 1s les 19% pfd. 1h 31% Uruguay (peso) .... erre Haute Elec Co 6% ..... Mexico (silver peso).. ne Wedngsiar fat is S00. ae, tr Union Title Co com ......... 22 25 Hongkong (dollar) .. clinpers. 10@i5c lower: California yan Sama ilk So Shyer » Pu India. (rupee) ress stringers. $9.50 tor wooled ambs. § $8.85; Dv M. P. Crist’ & Co) se ssnds clipped lambs. $7.85: Db ay’s trade open- A v x. . Japan cosesryn ng 10@25c_ lower: good and Choice wooled Market St. Investment Corp...21.08 22.65 Nominal: ! tottered. lambs. [email protected]: noes 65 Divi A ’ S————————————————————— Sownw n ward. a choice load, Re he XEs-Dividend U.S. ST menor, apn wp) ne | BANK STOCKS ra aE A i Ae ons Receipis, 3300. jpeliding 9 djpect. active Bid As = e enera cents lo rent fiscal year through Sor 26, com- | st decitne: top. $8.25, 225- 250 ibe., $8.15; | Bank of America .......... - 4% 43% pared with a jokl Siar t Yea I opus Ca send "Packing | Bankers Trust. . oi... a4 a6 OWS. A Expenses . $6,287, 304.182. 95 $6. 1s 568. 089. 76 8 Cattle—Recei ts, 300; calves, 200. Aec- Bank of New York Trust . +333 343 Receipts _. 5,050.220,931.60 4.050,106.389:28 | fon fairly good, generally About steady: Brooklyn Trust :......... cease 13 78 Gross def. 1,337,583,251.35 2,123.481.700.48 [oad choice 1132-lb. steers ht to ar- | Gentral Hanover 86 89 Net def. . 1,179,641,001.35 2.028,371.700.48 | rive. $9.75; odd heifers, 8 2) SoM. | Chase... 32 bal . 2.782,640,794.35 1,672,925,81%.12 0; bulis. $7 1 Chemical . 41 Gosh Dhl 2/208822.151.42 648 oi 20k 09 son ns. dactical top. gulls, $7; vealers, | commercial 136 Pub debt . 37.557.718.006.47 34,877.632.158.6: BD aoas is 200: none direct: Mar. | Continental Ji.1111.. 1100000 Ty 13 es . 12,858,628.611.08 11, "766. 476.41 k 2h ee on mo derate suppl, several | Corn Exchange . cosassssssnsss 46% 47Y, Gold r et, steady y; Customs .. 311,389,154.00 | $60.95 8.83 | odd igts good and choice spring lambs, | Empire ........ 0 21 LE OTE | te aE ed tami: | Gamcanty oo). 12% ING quote e | Guaranty ..... cle ANaroLs or ap We ain. $7. 19 58500 down; pe slaughter ewes, Irv I tects cesees ceesseeess 10% 11%) Debits ees sssssssneene csssfbece 5'933.000 National City ee 25V, shoe WAYNE. April 28 (U. P).—_Hogs— New York Trust . 5, - Market, steady: 200-220 1bs., $8.25; rT Title Guaran tee. 5% . ope 200 Ibs. 38, 15: 160-180 1bs.. $8. 20-240 e Guarantee ... 4 See Final Edition Ins. $815. 240-200 bs, 8805: 300. 280 bs. Se c : : $7.95: 280- 300 $7.85: "300-325 ips. FOOD oR E 6f the Times I ge be, rest de CES 1 ¥oughs, 87: stags. $5.50: calves. $9:| CHICAGO, April 28 (U. P.).—Apples— 3 fo lambs, $8. Michigan McIntosh, Sal 25. Sweet Po- - r tatoes—Tennessee (bu, mpers), 51. a ing Steck Quotations | A Lt Lo Closing Stock Quotations | |uarket” S715: a "ilk Hel far Thre, Eh 0, un i -. bs. Call Celand Other Late News 186:200 To 5 GBI mis. S18 down ery_Florids (crates). "8150 238 one . rou $7.25 down. : Mare .00° — Texas Yellows, +80 ”

= ves, $8,500: lambs, hu

DOW-JONES STOCK AVERAGES 30 INDUSTRIALS Yesterday "...... sassenvasees 115.95 Week 280 ....ccosvessevsce..115.40 Month 280 ...:c.cessseocccs. 98.95 Year AZO -v-v.cosssssicavens 170.52 High, 1938, 134. 35; low, 98.95. High, 1937, 194.40; low, 113.64. 20 RAILROADS

+1.31 +0.50 —2.02 +0.39

—0.10 + 0.0% —0.23 +0.29

Yesterday Week ago .. Month a0 ...cccooccsivesces 19.00 Year ago . 56.90 High, 1938, 32.33: Tow, 19. 00. High, 1937, 64.46; low, 28.91, 20 UTILITIES sesesus sine nn 18.45

40.02

Yesterday «cc... Week AZO c...coveesssvsses.,s 18.03 0.51 Month ag0 ...ceieesccssescss 15.14 =0,04 Year ago .......cecoeveneccnn 28.46 --0.10 High, 1938, 21.86; low, 15.14. High, 1937, 37.54; low, 19.65. 70 STOCKS Yesterday ....... Sreviensvens 36.34 --0.26 Week Ag0 ....cevisvsaasnnnes 36.14 40.28 Month ago .. esesess 31.10 —0.51 Year ago .....vcoosaiisoveiesa 61.17

+0.19 High, 1938, 44.42; low, 31.10. : High, 1937, 69.67; low, 38.87.

: Net Jen Low Last Change

Reo Mot . 2 2 Rep ublic st’ A Lad 14 14 — “Y Richfield oil .. 8 6 cose si Sears Roepues. 51% 57% 571% — % Silver-King 6% 6% 6s — Ya uth Pac . 11% 11% 113, .... South Ry 73% KE 8 — Ya South Ry pf 11s 11% 11Ys 4 33 Sparks With 2%, 2%; 2% uess Sperry-Corp .. 19% 19% 19% .... Spiegel Inc 2 Uo 15 — Mp Std Brands .... 7% 7% 78 .... Std C Tob 2 $9 ” td Oil N J ... 47s 46% 46% — bo tew-War oe Va Ts MWe — Superior Oil ... 2% 2% 2% .... —T Corp, . 38% 3834 383% «ese Thompson Pr . hn 1 Va 1174 + 15 TAB mE TE = i X 74 a ig. — 4 Transamerica . 10 "a 10 — ¥ —l— Ulen & oC .... 2 2 2 .

N.Y. Ronis

BOND PRICE INDEXES By United Press

20 20 20 60 Inds. Rails Utils. Bonds Yesterday ..... 19.6 544 91.9 5.3 Week ago ..... R86 52.2 90.9 "3.9 Month age ... 7.7 51.8 89.1 2.9 Year ago ..... 91.6 94.2 101.8 95.9 2 Years ago... 90.3 89.7 104.2 94.7 1938 High ..... 83.0 70.0 95.4 82.5 1938 Low ..... 19 49.8 87.3 50.7 1937 High .... 950 101.2 106.0 100.7 1937 Low ..... 80.1 69.3 92.3 81.1 1936 High ..... 94.8 100.4 106.2 100.2 1936 Low ..... 90.0 84.7 103.5 93.3

(Copyright, 1938, Standard Statistics Co.)

NEW YORE, April 28 (U. P.).—Bonds opened irregular. Net

Open Change 2, ceee 9378 = Cho 2 Ohio 3%s 95 EL 92% ie Grt North 3%s

Armour i 48 55 .ivseens B Oo

e&

Ill Cent 434s ............ seees 88a —_ VY fn Paper 6s .......... cuvass 18 + Ys Y NH & Hart 65 40 ..... 22 cau North An Edis 58 69 ........100%2 4 80 Pac 4'25 69 ........ wiveves 4098 Vou West Un 55 60 ......co000n oo. 587% =— 3

Curb Stocks

By United Press

NEW YORK, April 28 (U. P.), = Surh stocks opened irregular, Open els

Amy Cyan 2 serve ssessessene 19% — Carrier Cp ....... cen waves 23% Cities Gers pt cai isa waa ene. 41 + is Eagle Picher Lead ....eev000e 9% = % &8 i. vevassenve B38 wire Humble Oil ..... Saseesssveses OB . Lockheed Air ....... eee vuee 8% 4 a Niag H P sevavaues OY ely Na oil of Ky . ceseees 15% — Ig Technicolor... ........ cc... 20 -—

GENERAL MOTORS EARNINGS DECLINE

NEW YORK, April 28 (U. P.)— General Motors Corp. today report- |. ed first quarter earnings equivalent to 14 cents a common share, the smallest for any three months’ period since the final 1934 quarter. That compared with $2 cents a common share in the last quarter of 1937 and with 99 cents a share in the initial 1937 period. Net earnings for the first quarter after payment of $2,294,555 in preferred dividends aggregated $5,939,462 compared with $41,478,598 in the fourth quarter last year and with $42,519,611 in the initial 1937 period. In the fourth 1234 quarter no earnings were available for common. On a first quarter basis this year’s showing was the worst since 1933 when only 11 cents a common share was earned.

CIGAR STORES TRY OWN PUMP-PRIMING

NEW YORK, April 28 (U, P.).— The United Cigar-Whelan Stores Corp. is trying its own brand of 7 | “pump-priming.” Merchandise salesmen were more than surprised early this week when a newspaper

spend $5,000,000 on replacement goods for its own 1600 stores. If invited sellers to demonstrate their wares at the Hotel Lincoln during a 3-day period ending tomorrow. The company’s purchases normally amount to pros $1,000,000 a week. Announcing details of the program, President Allan'L. Woodward predicted today that bargain prices obtained during the present campaign will “make quality merchandise available’ to the public at

‘+ | greatly reduced prices and stimu-

late busip€ss tremendously.”

DAILY PRICE INDEX

‘NEW YORK, April 28 (U. P.).—

‘|Dun & Bradstreet’s daily weighted

price index of 30 basic commodities, compiled for United Press (19301932 equals 100):

>. Yesterday *o ec nttes RRR 108.00

Week a80 ....cree060000ee0s 109.08 Month ago ..........c0..... 109.48 Xear ago ......... sessessnes 15045 1938 High (Jan. 10) ......... 117.06 1538 Low (April 26) ......... 107.95

CHICAGO PRODUCE

Eggs -~ Market, firm; receipts, 34.448 cases; fresh Fo firsts, cars, 19Vac; less han cars, 18'ac; extra firsts, cars, 19%zc; less than cars, 19%c: checks, 16c: current ed gus, 2% Siruies, 16%4c; stor- - C; - extras, 2034 : BOTage packed Butter— Market, steady; recei 35 839,871 gross popnds. extra firsts (90-911 score), 4% @25%aC; extras J score), 26c; firsts, 22% @23%c; seconds, 21@21%c: specials, 26%: @26'2¢c; standards, 25c; centralized {89 score), 23%c; centralized (88 ‘score),

Poultry—Market, gasy) receipts, 1 car, 4 trucks; ducks, 13@15c; goose. 13c; hen 1 18%, @32c; Leghorn hens, 17%c: spring chickens, 26@27%c; roosters, 13%c; fryers, 336 25c; broilers, 20%2@24%c; turkeys. 18

Cheese—Twins, 1311 @13%e; daisies, el4c; Jonghorns, 13% @14 sles, 13% Potatoes — sup lies Tiberal; demand, slow; lel. we Idaho Russet Burbanks, [email protected]; *Colorado Red MecClures, $1.50; North Dakota Bliss Triumphs, $1.35: Minnesota Cobblers and Early O 0, 1.30 1.35; Wisconsin Round Whites Th ‘New Stock Suppl es, moderoty: I fair; market, steady; Louisiana Bliss TriSens, | 31.55 @3.10; Texas Bliss Triumphs, roa3Tivals, 83; on track, 210; shipments,

Colonial

Savings and Loan

Association 28 South Illinois St.

advertisement an- | .|nounced that the corporation would]

High

Low Union B & P .. 12 10 10 — Ya Union Carb .... 65'%2 652 652 — ia n Pacific 60 60 — 1a Un Aircraft Cp 26% 26% 263% — Ya Un_Air Lines 7% 1% 1% — Va United Corp ... 2% 2% 238 eau United Cp pf .. 25% 25% 25% — Ya Un Gas I 3% 9% 9% + Ya U Pipe & F 30 30 “+ Ya Rubber ... in 27 27 — 1 US Rub 1 nt . 69% 69% 69% + Yai U S Steel 5 45 45 + VY U S Steel pf .. 98%, 98% 98%° — Yi —W— - Walgreen ...... 16% 16% 16% + Walworth -..oee 7... or 2 2 wel bngh lay fy ale Dh, S 2a — Willys Overind. 2a 2Va 2a aves —Y— Yoow grew: Wh WL =n . id /8 Young Sheet .. 32 33 33 + ia — Zenith Rad ... 12 12-12 + 3%

MAY WHEAT HITS NEW SEASON LOW

Some Reinstatement Begun; Corn Holds Position.

CHICAGO, April 28 (U. P.).—May wheat futures slid to a new low for the season on the Chicago Board

of Trade today but absence of sell-

ing on the break paved the way for

‘lan upturn.

At the end of the first hour wheat was unchanged to 4 cent higher. corn was unchanged to 2 cent higher and oats unchanged to 4 cent up. The May delivery dropped “to 803% cents, a season’s low on early selling but at the bottom forced liquidation failed to appear and some reinstatement was begun. News that rust might spread in the Southwest should weather continue favorable was the chief bullish factor. There was an estimate of 40,000,000 bushels issued for Texas to= day, little more than 1,500,000 bush els under last year’s crop of more than 41,000,000 bushels, but traders were inclined to discount such a high forecast. Trading was without much of a feature in midsession. Wheat receipts were 47 cars. Corn remained about in the same groove from the opening. There was a scarcity of crop news of interest to corn traders and most of the day’s activity was influenced by wheat. Corn receipts were 447 cars.

LIVERPOOL WHEAT

(U. 8. equivalents based on sterling at $4.98%,), Brey

May .....8000% sig Bs. si00% si otis JUIy «.... 1.00 97% 992 9973 Ot, nln NE SE an ARGENTINE GRAIN BUENOS AIR Aon 28 (U. P.).—Grain futures opened Wheat—May. 973%sc. neha anzed, une "oa: ¢, unchanged. Corn

June, v. 67%c. unchanged: June. 65%c. un. chan ed. ‘Oats—May, 3134¢ Jichange Flax May. $1.26%, unchanged: June. $ unchanged.

WAGON WHEAT City grain elevators are paying for No. red, 3 c: other grades on their merits. Cal cay! new No. 2 vellow, 49c. Oats,

LOCAL PRODUCE

Poultry Heavy breed hens. 15%c; Leg-~ horn hens, 13c; heavy broilers, 12 to 2V; Ise 18c; 2 to 3 Ibs., 20c; 3 lbs. and over, 23¢; Leghorn broilers, 17¢; bareback hroilers, 15c; old roosters, 9c. Eggs s—No. 1 strictly fresh country run

Ibs. gross; a net deduction of 15c for each 2. '25@

Butter 1, 27% @28c: No. 25Yac. "Butterfat— No. 1, 23c; No. 2, 20c.

LOVE ROW LEADS TO QUIZ IN 1935 DEATH

Two women and a man for whose affection they allegedly vied were held by police today on vagrancy charges under $10,000 bond each for question in connection with the death of Louis G. Thomas, at 215 N. Noble St., nearly three years ago. Police said the prisoners last night made statements claiming that jealousy between the two women over the man’s affections caused them to break an alleged agreement never to reveal that the victim was choked to death. At the time of the man’s death on June 21, 1935, authorities were convinced he died of a heart attack. Police records showed that Dr. M. F. Mercer, coroner at that time, returned a verdict of natural death. Coroner E. R. Wilson and police expressed doubt today that the case would be reopened. The coroner said that the only legal manner in which he could reopen the case would be on a Superior Court order, based on information conveyed to the Court by the police and prosecutor’s office. Detective Chief Fred Simon said that since an inquest had been held and thé case closed, that it was improbable that new evidence could be obtained to fix a cause of death other than that recorded.

73D ST. DISPUTE ENDS

. Marion County Commissioners today announced signing of an agreement to maintain 73d St. from Highway 29 to the Spring Mill Road after it is constructed by the State. The action ended a month’s dispute over the project. The $58,000 improvement would be financed by State and Federal unds.

Net Last Change |

eggs, 15¢ (each full case must weight 55

GAINS IN SALES, BUILDING, JOBS ARE NOTED HERE :

City Totals Still Below 1937 Level; Manufacturing Up in March.

Trade, building activity and employment in Indianapolis, Indiana, and the Seventh Federal Reserve District continued to expand through March, according to four business surveys released today.

T. E. Toll, local manager of the F. W. Dodge Corp. reports division, announced Indianapolis building followed the March upswing that was general throughout the country. George J. Schaller, Federal Reserve Bank of Chicago president, said manufacturing increased over February in the Reserve District which includes Indiana, Illinois, Wisconsin, Michigan and Iowa, despite a decline below the 1937 production total. The Department of Commerce reported March retail sales of 72 independent Indianapolis stores increased 31.6 per cent in dollar volume over February, but were 18.2 per cent under the March, 1937, total. In Indiana, 539 stores showed a gain of 28 per cent for March, but a loss of 23.5 from last year. Martin F. Carpenter, Indiana State Employment Service director, said seasonal factors are exerting definite resistance to 'a downward trend in general business in the state. “This spring,” he.said, “the seasonal gains in employment in nearly all lines are less than the average for a five-year period as sho on our charts for 127 Indians ingle tries. A year ago empioy BY was expanding more than was anticipated. Mr. Schaller said steel mill operations in the Seventh District increased last month, but declined again this month. Gains were recorded over February in building construction and in the movement of building materials. Although the full effect of Easter buying was not apparent in the period, Seventh District department store sales expanded 29 per cent in March over February, the increase comparing favorably, however, with one of oniy 21 per cent in the 192837 average, the report explained. For Indianapolis, department store net sales last month were 15.8 per cent below those of March, 1937, and for the first three months of the year were 59 per cent below those for the corresponding period of last year. In the Dodge report of increased building activity here, it was announced that March contracts awarded in the Indanapolis area totaled $1,212,000 compared to the February figure of $248,000. Mr. Toll commented: The turn taken by residential building contract awards in the Indianapolis area during March is most encouraging. At the same time, nonresidential activity here stepped up its pace. Privately financed contracts 2accounted for $858,000 of the March total, compared to the February figure of $228,000. This was far ahead of the average 95 per cent gain recorded in 37 Eastern states.

Public Construction Increases

~ Building financed by public funds increased 85 per cent heré, March

contracts amounting 197$345, 000 and |

February to $20,000. Residential “building here turned up 48 per cent from $200,000 in February to $296,000 in March. Nonresidentigl building contracts were valued at $807,000, an increase over Feb: ary. In the heavy engineering field, March contracts financed from public funds or by utilities totaled $109,000 compared fo only $7000 in February.

BOOM IN BUILDING IS PREDICTED HERE

Times Special WASHINGTON, April 28—The probability of a spring building boom, particularly in small homes, in Indiana and Michigan, was foreseen today by Fred T. Greene, Federal Home Loan Bank of Indianapolis president. He is here attending a "conference of the presidents of the 12 Federal Home Loan banks. Mr. Greene reported that loans to home finance and thrift insiitutions in the sixth district were increasing and “will undoubtedly reach a new peak in volume within the next few months.”

TIME CHANGE NOTICE

RAILROADMEN’S

HOME LIFE HOUR

Every Saturday Evening

8:45 WFBM 1230 Keys

oo

OF INDIANAPOLIS

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

SAVINGS € LOAN LOAN ASSOCIATION

3%

DIVIDENDS

SPEED Savings —and

SURED

EDERAL

23 W. OHIO ST.

LI EAT REE

ON THE

TONIGHT

§:00-Ruay Vallee, WIRE. 6:00—~Kate Smith, WFBM. 6:00—Alfred Wallenstein, WGN. 7:00—Good News, WIRE. 8:00—Bing Crosby, WIRE. 8:00—Coolidge Quartet, WGN. 8:30—Americans at Work, WFBM.,

Tonight CBS inaugurates the first of three educational series of unique scope and commendable character. It is called “Americans at Work,” and is a development of Columbia's Adult Education Board. “Adventures in Science” and “Living History” are to follow. Each Thursday (CBS-WFBM) at 8:30 p. m,, you may hear interviews with workers in varied fields. Tonight's subject will be Joe Weaver, “sandhog” working in a New York subway tunnel's compressed air chamber, 60 feet below street level. Other interviews, already booked, will be with a railroad engineer, beauty specialist, department store executive, automobile worker, artist, compositor, bricklayer, food business executive, toolmaker, milkman, steel worker and restaurant waiter. ” on ” Have you wondered what has become of Betty Jaynes, last season’s operatic “prodigy?” Well, she’s out in Hollywood under contract, and is to be on tonight's “Good News” program. Robert Taylor, busy on a picture, won’t be present, and a “big star” is to take his place as m. c. Another guest star—Maxie Baer, who'll take boxing lessons from Frank Morgan, and play a “love scene” with Fanny Brice. ® 8 »

THIS EV

RADIO

WGN has two inviting-lookiig music broadcasts for tonight. At'6 p. m., Alfred Wallenstein’s Sin: fonietta, in music by Gossec, Glinka and Kaun; at 8 p. m., the Coolidge

String Quartet with a program of

English chamber music.

and Piano; Elgar's String Quartet in E Minor, Opus 83, and Vaughan Williams’ “On Wenlock Edge.”

2 un = Georges Barrere, the world’s most famous flute virtuoso (anybody

want to argue?), Roland Young and Binnie Barnes will submit to the Crosby-Burns crossfire tonight. .% .

On Kate Smith's hour, Rosalind:

Russell will be the visiting attraction. . . . Rudy Vallee will let you hear part of the recently opened Broadway play of high school students, “What a Life,” when he entertains six of the cast tonight. The show is a George Abbott come edy, and looks like another hit

a # ”

With “Test Pilot” now at Loew" S, you may want to hear from a real test pilot, Lee Gehlbach, on the CBS “We, the People” show, 5:30 p. m. Mr. Gehlbach is one of only four living American plane testers who specialize in high-speed diving. . « . Tonight's “Town Meeting of the Air” will consider “Which Is the American Way?” (7:30 p. m., NBCBlue): Speakers will be Col. Frank Knox, Prof. T. V. Smith of Chie cago University, and Alfred Binge ham, editor of Common Sense. 8 #® ”

a

ENING

(The Indianapolis Times is not responsible for inaccuracies in program ane nouncements caused by station changes after press time.)

INDIANAPOLIS INDIANAPOLIS CINCINNATI CHICAGO WF 2 WLW. 700 WGN 720 (CBS Net.) (NBC-MBS) (NBC-MBS) (MBS Net.) 00 Hall's Or. Rakov’s ,0r. Dick Tracy Bill A 15 Brille Allen Franklin Weber's Or 30 Boake Carter Tune Twisters Paul Douglas Charlie Chan 45 Tea Tunes Yes or No Lowell Thomas Orphan Annie 00 ” ” A a . :15 Christ. Se. i : Ser ERate vn Sr 3 :30 Bohemians Dick Traey Unannounced Bob Elson 45 News Orphan Annie Paul Sullivan Old Timers - 00 Kate Smith Rudy Vallee Rudy Valles Sinfonietta = ” ”» ”» ”n ” ”

”» ” ” ”» ” ” ” ”

.

Major Bowes Good News ”» ”» b ” ”» ” ” ” ”

” ”»

Green Hornet ” ” ” ”

Arden’s Or. Crosby's Or. Tomorrow's Trib

Good News ”» » ” »

Political Talk Music Hall

Musie Hall Quartet ” ” ” ”»

2200 | Bunn | suas] asas | saan | sass 2 | 6353 | 63853 | 535

At Work » » » » Weber’s Or. Entertainment Amos-Andy Amos-Andy 1 ” 53 Joieenstoons News HN Shrieties Int Barrie's gr orts Review aseba ews es’ Salute eate: A :45 Felton’s Or. adriguera’s Or. 2 ” cater, gest 10:00 ws Goodman’s Or. P. Sullivan Good ” : 10:18 Norve's or. oo 5 : Unsnnounced on mal : or. 10:0 King’s or. Crosby s Or. . 4 Crosby s,,0r. ] 31:00 Noone’s Or. A. Week’s Or. » » Garber’s Or. i . ’ i ’, Can 3] 130 Gendron’s Or. » » » » Week's Or. = 12:00 Nocturn ilent. nN» io Rito's Or. 1 il. 22 Tl rin 13:50 ” ” ” ” ”» ” Unannounced ue FRIDAY PROGRAMS 1045 INDIANAPOLIS INDIANAPOLIS CINCINNATI CHICAGO WFBM 1230 WIRE 1400 WGN 7720 (CBS Net.) (NBC-MBS) (NBC-MBS) (MBS Net.) 6:30 Early Birds Devotions Pioneers Music Box 6:45 ” ” Market-News Hugh Cross ” i” 7:00 9” 1” Musical Clock Merrymakers Good Morning * won Deus Byra Gospel Singer apd Morhin i: es V 0s 0 ornin 7:45 " ” W » Baaoriones : z 8:00 Kitty Kelly 7. Mrs. Wiggs H mns Crane-Joyce 8:15 Myrl-Maree * >< Other Wife Margo on 8:30 Plain Bill Myre. Marge Melody Parade 8:45 i Woman in White Betty-Bob Dr. Friendly . 9:00 Ruth Carhart David Harum Mary Marlin 9:15 Apron anes Lorenzo Jones oldberss aah oo 9:30 Big S Be Charming Short Story Pai ited Dreams’ 9:45 Real Sie Linda’s Love Kitty Keene Stella Dallas ~~ 10:00 Mary McBride Déssa Byrd Dr. Friendly Store Woman 10:15 Mrs,” aters 4 ”" O’Neills Harold Turner: 10:30 rs arrell News News-Weather Quin Ryan 10:45 Pariy Line Farm-Home Down East 11:00 Medal Hour Hap y Gang 3 2 State St, Man 11:15 9 Einsin mble " ” elodies £7 11:30 ” ” Ensem Livestock Services 11:45 ” ” WIRE F Thomas Sawyer ” ” 12:00 Farm Bureau ” ” Linda’s Love Harold Turner 12:15 Farm Circle 1 1 Hilltop House Musical ’ 12:30¢ Bohemians WIRE Reporter Unannounced June Baker 12:45 News Headlines Melody Time 1:00 Marine Band * Police Court pper Young , Romanci . 1:15 4 ’ Geo. Henry Hatternelds Musical “Moods 1:30 Kate Smith vA, Vic-Sade Jam Session 1:45 Minstrels _ Varieties Guiding Light Leadoff Man 2:00 Penn Relays Backstage Wife Harding: Wife Baseball | 2:15 ” 3 * Varieties ins 3 » 2:30 Four Clubmen Hughsreel Julia Blake ’" 1” 2:45 Economics Baseball Road of Life ” ’” 3:00 Organ Moods Emin Houseboat noon 3:15 . E. Merriam 44 1» AY Sothern 1” ”" 3:30 Music for Fun " Si Lady hoon 3:45 » ” Editors Daughter ” ag ER 4:00 News hi ow Dick Tracy “Bill Anson 4:15 Butler Forum on ” nannounced Melodies 4:30 Boake Carter ” I» aul Dogslas Charlie Chan 4:43 Tea Tunes Harry Bason Lowe omas Orphan. Annie

. KEY NETWORK STATIONS (Subject to change):

NBC-BLUE-WJZ, 760; WOWO, 1160; NBC-RED—WEAF, 660: WTAM, 1070;

WENR-WLS, 870; KWK, 1350. WWJ, 920; WMAQ, 670.

CBS—WABC, 860; WJR, 750; WHAS, 820; KMOX, 1090; WBBM, 776. MUTUAL—WOR, 710; WHK, 1390; WHKC, 640; CKLW, 1030; WSM,:650.

CROSSWORD PUZZLE

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