Indianapolis Times, Indianapolis, Marion County, 1 June 1938 — Page 16

HM 4 am A yp

WEDNESDAY, JUNE 1, 1938

N.Y. STOCKS RALLY AFTER EARLY DROP; .... ~ TRADE INCREASES

re AAA Ree a

Chrysler Leads Recovery; Oils Gain Fractions To a Point.

NEW YORK, June 1 (U. P.).— Stocks rallied today under lead of Chrysler after an irregular decline. Volume increased slightly. The recovery, which ranged from fractions to more than a point, was considered technical. Some buying came from shorts who had fairly good profits as a result of the recent decline. There was no disposition to follow the advance. Chrysler touched 38'% rose to 40's, up 17% net. Motors rose from 27 to 28%, nearly a point net. United States Steel reached 407%, up 1 from the early low and up 5s net. Consolidated Edison featured utilities with a gain of more than a point. Santa Fe rose 1. Chemical rose 2. Oils had gains ranging to a point in Texas Corporation. Nonferrous metals were bid up fractions to a point. un

Jdoday’s Business At a Glance

GENERAL BUSINESS

American Bureau of Metal Statistics reports April receipts of lead in ore and scrap by United States smelters 39,140 tons vs. 40,417 previous month and 43,773 year ago,

and then

General |

| for Allied |

Porkers Hold Early Advance In Trade Here

A 10-cent advance on all weights of hogs here in the face of declining prices at nearby points brought local values closer in line, according to the Bureau of Agricultural Economics. Receipts were curtailed to

Consequently, trading was active at the advance and a good clearance efected. Top was carried to $8.75 for 160 to 180-pound averages. Packing sows responded with a 10 to 15-cent gain, bulk of the good sows making $7.50 and $8 and occasionally above smooth lightweight butcher types. : Buyers resumed the slow policy of yesterday and last week and the general cattle trade moved along in rather a dull fashion. Except for spotted slower sales in steers, all classes cleared at about steady levels. Choice Steers Steady Choice steers held steady, the loss being suffered on medium and good lightweights, which predominated. Receipts of 2000 consisted largely of around 40 loads of steers, which is fairly liberal for Wednesday. Choice heifers were scarce, sales of heifers mostly $7.50 to $9. a short load 804 pounds, $9.25. Bulls and vealers

May 1 lead stocks on hand 235,774 | ($9. Good Southwestern 350-pound

tons vs. 221,346 previous month and 200,490 year ago.

W. H. Gartsen estimates May 31 |

world’s visible tin supply 18,059 tons vs. 19,041 year ago.

CORPORATION NEWS

American Power & Light Co. March quarter net income $3.312,105, equal to 30 cents a common share, vs. $3,356,105, or 31 cents year ago, 12 months ended March 31 consolidated net income $11,404,809, equal to 58 cents a common share, vs. $10,424,087 or 25 cents year ago.

Atlas Corp. April 30 net assets

went unchanged, most bulls, $7 down: a few, $7.25, and top vealers,

stock heifer calves went back to the country at $8.50. Sales of slaughter steers ranged largely from $8 to $9.50, several loads of 1084 to 1344 pounds to shippers, $10. Most of the lamb supply was ex-

| pected to total around 400 head, be-

| ings which sold steady. {erop lambs moved slowly, | little changed. ers bulked at $8.50@9; a few strictly |

| weights

ing compromised of new crop offerShorn old but Better grade spring-

choice offerings above, while lightsold down to $7. Most

| clipped lambs were in common to

good flesh from $5 to $6 largely.

equal to $3.44 a common share, vs. |

$13.36 Oct. 31, 1937.

Brazilian Traction Light & Power

0., Ltd., 1937 come $10,886.281, share, vs. $6,243,888 or 1936. “City quarter net loss $71,175 vs. 434, equal to 8 cents share year ago. Cushman’'s Sons, ended April 23 net equal to $2.72 on combined 7 cent and $8 preferred vs. net $51,177 year ago. Diamond Match Co. March quarter consolidated net profit $502.523 | cqual to 39 cents a common share | vs. $332.078 or 44 cents year ago. Electric Power & Light Corp. March quarter net income $2,191,047 equal to 22 cents a common share vs. $3,285,054 or 54 cents year ago; 12 months ended March 31 net income $8,531,249, equal to 84 cents a common share vs. $8,466265 or 80 cents year ago. General Realty & Utilities Corp. and subsidiaries (not including Lefcourt Realty Corp.) March quarter profit $140,734 vs. $135,671 year ago. United Gas Corp. March quarter net income $2.3938.150 equal to 1 cent a common share vs. $4,439.578 or 27 cents year ago; 12 months ended March 31 consolidated net income $9,262,495, equal to $691 on second preferred vs. $11371,207 or 26 cents a common share year ago. Vick Chemical Co. and subsidiaries March quarter net profit $326,650, equal to 46 cents a share vs. $941,244 or $1.34 year ago.

RAILROAD REPORTS

Topeka & Santa Fe week ended May 28 car-loadings 19,825 vs. 20,062 previous week and 24,232 year ago. Chesapeake & Ohio Railway Co. first four months net income $3,036,966, equal to 37 cents a common share vs. $10,277,601 or $131 year ago; April net income $521,261 Vs. $2.000,172 year ago. Wabash Railway Co. week ended May 28 carloadings 4,647 vs. 4.671 previous week and 5,332 year ago. DIVIDENDS

American Fork & Hoe Co. 15 cents on common payable June 15 record June 4 vs. 25 cents in previous quarter. Chesapeake Corp. directors took no action due at this time. Chesapeake & Ohio Railway Co. 25 cents on common payable June 1 record June 10 vs. 75 cents April 1 and Jan. 1. Consolidated Laundries Corp. regular quarterly $1.87': on preferred payable Aug. 1 record July 15. Duke Power Co.

Stores Co. and subsidiaries

net profit $96,a common

Inc, 16

Atchison, Railway Co.

75 cents on com-

mon pavable July 1 record June 15 | | lower:

vs. like payment April 1. General American Transportation Corp. $1.12!: on common payable July record June 10 vs, $2 in December. Gulf Oil Corp. 25 cents pavable July 1 record June 15 vs. like payment April 1. International Shoe Co. 37: cents on common payable July 1 record June 15 vs. 50 cents in previous quarter. Master Electric Co. 25 cents payable June 21 record June 6 vs. 40 cents March 21. Mead Johnson & Co. extra 75 cents and regular quarterly 75 cents on common payable July 1 record June 15. Wesson Oil & Snowdrift Co. extra 50 cents and regular quarterly 121g cents on common payable July 1 record June 15. (Copyright, 1938, by

U. S. STATEMENT

WASHINGTON, June 1 (U. P.).—Government expenses and receipts for the current fiscal year through May 28, pared with a y« Par ago:

This Ye .$6,904, 862, 037.05

United Press)

Last = ear Expenses

gages = IL 2 a vai BDROD IT

res. Customs. '443.000.003.02

HOUSE $3.061,000 7,240,000

INDIANAPOLIS CLEARING Credits “ "

Debils eeceecestcsscesctcnenianes

consolidated net in- |: ~ | equal to $1.54 a | 23. 88 cents In | 5:

nded April 30 consolidated | 31.

| Barrows and Gilts=

weeks | income $154,759 | per | loss |

(140-160) (160-180)

and and and and and and and

choice . choice. . choice. cnoice choice . choice... choice. .

Good Good Good Good Good Good (290-350) Good

Packing Sows—

Good and choice Good “h d pie dium | Slaughter Pig (100-140) Sood and choice. . Medium ‘ave CATTL —Receipts, Steers Cholce } Choice Choice Choice Good +.» Good Good

(900-1100) (1100-1300) (1300-1500) Good 1750-11001 Sigs (1100- 1300) Med (750-1000) Con mon (plain) . Steers and Heifers— (550-750) Good

5 PRPS uD 23333589 =35

Heifers Good Medium Common

(750-900) (550-900) (650-900)

All Sli Good .

Medium Common . (All weights) Medium Cutter and common Bulls Yearlings udea (all weights) — Good (beef) 6.5 (All weights) ‘Medium Cutter and common ... Vealers (All weights) Choice (All weights) Medium (All weights) Good Cull and medium

—Receiupts, (250-400) Choice Good

Medium . Common . Feeder and Stocker Catt Stefrs— (500-800) (800-1050) (500-800) (800-1050) (500-1050)

Heifers— (590-750)

Choice Choice Good

ood . Medium Teranean Common sevens

Good and Cholce.. Common, medium. SHEEP AND LAMBS --Receipts, 330 Lambs (shorn) Choice Good Medium Common «.. Ewes— Good and choice Common and medium

CHICAG ceipts, 15.000 100 20c lower: 160-250 Ibs,

EEE Saas aaenee

6.00@ 6.75@

Hogs— Re-

0, June 1 (1, . market, slow,

Pr 5000 directs; top. 28.75; good and choice $8.50% 8.70; 260-290 lbs., $8.40 @8.55; 300-350 Ibs. [email protected]; packing sows, [email protected]; but cher kinds, $7.85 8. Cattle-—Receipts, 10.000; 12 calves; fed steers and vearlings active, steady: eariy top, $10.50; some steers held higher; heifers steady: pest carly, $9.50; cows fully steady: suppl very small: most ~utter grades, $4.7 Der s 5.75. good and choice beef

cows, $7697.75: sausage bulls active and steady; light kinds Weak: most weighty sausage bulls. $6. 7576.90: vealers, 25@ 0c practical top, Ss 50 Sheep--Receipts. 900 lambs and springers only moderately acHye: Saniy sales strong t» a shade highto choice clipped lambs upward 4 87 2 ha 735 rather freely; one small lot strictly choice, $7.50: one double spring lambs. $9.50 straight: few held above 5: sheep strong: ewes, Ya: 25; choice around > 50.

YNE, June 1

natives

~—Hog Be

$7.80. ags, $6; calves, $9; lambs, 0: clipped Jambs, $6.50.

LAFAYETTE. June 1 1U, P.).—Hogs— Market, 10c higher; 160-200 Ibs. Soa 8.65: 200-256 Ibs. $8.40 8.45; 250-325 1bs., $8.10@@ 8.30: pigs, $8.25 down; roughs, $7.75 down; calves, $8 8.50: ur $8418.50.

CINCINNATI, June (U. P.)\.—Hogs— Receipts, 2600, inching 630 direct, holdover: market. steady to 5c higher; top, $8.80: 225-250 lbs, $8.65%8.70; 10040 lbs. $7.40 8.15, bulk good packing sows, $68.7547. Cattle—Receipts, 450: calves, 500: ket, siow, about steady: small lot mixed steers and heifers, $9.65: most beef cows, $647. practical top sausage bulls, $7. vealers. steady to easy: top. $9. Sheep Receipts, 1525, cluding 530 direct: spring lambs, active: most good springers, $9.25 9.75: choice ewes and

"100-120 1bs.,

| B0c@ 81;

come |

wethers up to $10: buck lambs discounted L shorn slaughter ewes mainly $2 © 3.50,

See Final Edition of the Times for

Closing Stock Quotations and Other Late News

about 6000 head, following the sharp | | break in prices vesterdav.

| Loft, | Mident

also |

» | 1936 Low ..

5 | Ateh Jor S Fe 4s 95 BO | Cons on

1400 directs; fat |

Texas |

native |

'AIROVER CHANGES NAME

THE INDIANAPOLIS TIMES

ESM AR LT SD to

PAGE 15

NEW YORK STOCKS

MOTHER LOSES

1 | : By United Press

DOW-JONES STOCK AVERAGES Be 30 INDUSTRIALS 15 | Yesterday .......ss rahe Reh 107.5 * | Week age Month ago Year ago High, 1938, 134.35:low, High, 1937, 194.40; wow, 113.64. 20 RAILROADS Prue 20.31 20.98 21.51

ne Ae Net High Lew Last Change { 1 —_— 2 —1.16 —1.75 +117 + 1.04

Redue . ; 42'2 “eh 10

1 1 NN MoE “ee 4 10% 103% he Allis-Chal 38'a 38l2 Ya Ada 2 y “

5 Am en ‘Sug. : 834 % 14 |

Allied

Am Enc Til .. 27 Am&FPwr $6 pf 12% 1234 pI&RP wx Sr ot i ? 147%

2Vs a oa Am Pwr Am Rad Am T & Anaconda Atlas Corp

32.38: low, 64.16; low, 28.91. 20 UTILITIES Barnsdall Beth Steel Borg-Warner Budd Wheel

Yesterday | Week ago Month ago Year ago High, 1938, High, 1937,

21.86; low, 37.51: low, 70 STOCKS

Callahan Zine . Calumet & H Cent Foundry

-—0.10 —0.61

Yesterday Week ago

v TY 3 Comwlith Bison > Cons Edison ... Cons Oil Container cont Oil Del ... ; Corn Prod. ..... + 32 Net | Crown Zeller .. oe High Lew Last Change | Crucible St

1938, 1937,

41.42; 69.6%; low,

Tow, S116, 38,87.

High, High,

. 2 » . N, 1 | Curtiss=Wr .... Y% a se SO ae 10 10 10% : =

No Pacific

De Co ist Seag .. i Du Pont Ohio Oil Pacific Lig Param! Pict

Elec Pwr & Lt : Para Pic 2 pf .

El P&L $6 pf . El Paso Nat Gas

Fed Mot

Flintkote Pure Oil

3en Electric ... Gen Motors .... Gillette 8 R Glidden .. . Goebel Brew Goodrich 4 Greyhound Cp .

Radin-K-Or Rem-Rand Reo Mot Republic Stl

QO += 13 UY =T =m

—

Seab'd Air L. nf Sears Roebuck . § Servel Inc Harb-Walk .... 193% 19% Shattuck ...... | Hazel At Gl... 3 16% Hershey pf .. 90 90 Homestake Hud Bav M&S . Hupp Motor ...

Interlake Ir Int Nickel Int T&T vi Int T&T For .. Intst D 8

SLIGHTLY AT CHICAGO

Kennecott Kroger G & B..

Corn Rallies on Strength of Light Offerings.

Lehman L O F Glass. Loew's

CHICAGO, June 1 (U, P).— Wheat prices eased slightly on the | Chicago Board of Trade after de- | veloping a firmer sympathy with Winnipeg. At the end of the first trading wheat was off ; corn was up unchanged to 's higher, Buying through scattered commission houses plus the strength at

Lone Star Cem.

Marine Mid avtag Miami Cop Pet Monsanto Mont Ward | Nat Diseuit . to 13, Nat Bond & In Nat Distillers. . | Nat Steel . Nat Sup Penn

N. Y. Bonds

By United Press BOND PRICE INDEXES 20 20 20 60 Inds, Rails Utils. Bonds IR 93.3 ER

Liverpool steadied wheat prices in Chicago after the start, but the pri- | vate crop estimate forecasting an- | other record breainkg wheat crop | | had some pearish effect. Wheat prices moved in a narrow 04 91.6 sie range as trading generally was | Month Azo .... 39.4 91.6 119 mixed. Buying by millers was reYear Azo 9. 101.2 95.5 | ported here with sales since yester- | [Two Years Ago 90.3 105.1 96.0 dav totaling 51.000 bushels. 3g Tas 5 3 Foreign demand for North Amer4 Np Rat oo ican grains was generally quiet, { though it

| Yesterday | Week Ago

. Be 106.0 100.5 80.1 92.3 R11 91.8 106.2 100.2 | 50.0 103.7 »33 1938, Standard Statistics Co.) | ter wheat yesterday afternoon. Estimated receipts of wheat in ChiP.). =Bonds | cago were eight cars. Open Change | Corn prices rallied on buving , | through houses with Eastern con- | nections plus the wet which led to the belief that country offerings will be ' | ings were rather light. Estimated receipts of corn in Chicago today were 206 cars.

1937 Low

1936 High

(Copyright,

NEW June 1 (U.

opened

YORK, steady.

Alleghany 5s 44

‘Bhs “ Gon Mtrs Accep’ 3's Inland Steel 333s So Pac 4'.s 68 So Pac 4':s 81 Tokio El 6s ‘en : - Youngstown 4s ve 9 + "|

Curb Stocks

By United Press NEW YORK, June 1 (U, stocks opened firn,

TE — WAGON WHEAT

City grain elevators are paving for No. Sate %c, Onn Srafies on their merits, sh corn. ne 5 P.).~Curh | Tou w No. 2 vellow. 49¢. Oats, Net xR Change { Am G & EB . et Ba

Brewster Creole Ia 81.113, LIVERPOOL WHEAT equivalents Rated on sterling bid

(U. 8.

Yow July .8 Oct. | Dec,

Inc.) Bid

Conf, y SRE i 90 |

| WAGE LEGISLATION

5 ) 1 2 5

— SONS =o

ARGENTINE GRAIN futures opened lower. Wheat—June, 763;c, off ae; Juay. T7%ec, BC FOzh-=June, Buiy., 57'%¢, Oats June, 30c, unchanged. Flax-—June, $1.113%, off uc: July, Pantepec Technicolor (By the Inv, BKrs. ag Asked Fd 3.36 3.70 Invest Bk Ops: oy H C 17.12 18.87 Ban Blair C I 1.38 Bas Ind 2.56 Brd St In 20.10 21.50 Ky Bull Fd 10.25 11.36 Ky

BUENOS ATRES. June 1 (U. P.).—Grain El B & S io a 3 Lad 60c, off xe; Lake Sh Min or 4 yy | Off N »J Zinc .. .“ | Niag H P .. “wv ‘is | off “ee 7 A ’ INV ESTI ING COS ag Fd 2n 9.30 9.80Ins Co D Am Bus 2.67 Bk N Y Bos F In 12.19 13.04 Ky Trst 19. 53 21. 0 Kv

[—

rs - Y Po i popnpennsan Se -upiianieiE

WPA Head Hits Absentee Ownership System.

5 2 4 8 5 17 63 55 86 rr —— 8 8 62 5 1. 5¢( 5.

er 100 ow R308 ¢ SE IS =

58 31 COLUMBIA, 09 | —Works

RD BS 1D G8 BD 1D bet pe

C, June 1 (U. P). or Administrator 8 Harry L. Hopkins advised the South ) | today that it must do away with absentee ownership and subscribe to the theory of wage-hour legislation if it is to achieve its “rightful place” in the national economy, His speech, read before the graduating class of the University of South Carolina, deplored the “tremendous waste in the credit system , , . which drains so large a portion of the South's income into the reservoirs of financial centers.” A faculty member spoke in Mr. Hopkins’ absence, BL | Asserting that in 1929, the averBe 3 ba, 3 ELybve a3 | Age New Yorker had an income of Bk Gro 04 | more than $1300 a year compared to $265 for South Carolinians, Mr.

FOREIGN EXCHANGE | Hopkins said “the wealth and

NEW Xa June s 0, exchange easy Cable Rates $4.94! 4.933, 98 15-16 0277 5-16

— RS

TI RS pu

Fidelity Fiscal Fnd Bnk Sik

DNF ml DW re D Pedy BC

— OO UV = IS =T DY Ty DV =) Sie

Gen In Tr 3.7% Group Securities; Bld 97

oT 11 Sel Sov 1.06 Spen Trk 1 1.04 Super AA 79 Super BB

Chemical

nT et 85 3 AT aT BS OY le <1 OY OT <1 TN HSS 14 DD TTI IP RY 3 IRAE 23332 - ¢

P.). Foreign | out of many sections of the country _Chanae |to the main centers of absentee 002 [ontien ship and finance.”

| CHICAGO PRODUCE

Eggs— Market weaker: receipts. 42.089 cases. Fresh graded firsts. cars, ; Jess than cars, 18'azc: extra firsts, cars, 19'zc: les sthan cars, 19%.¢; checks, 16¢c; current reiceipts, 173c@18¢; dirties, 16'sc: stor age Packed firsts, 20¢; storage packed ex-

tras, 204 Market easy; 2,046,188 $ .; extra firsts Jla@24'ic: extras (92 firsts, 21@22' »; seconds. cials, 25'.@ ,.: standards, 248241, c Poultry--Market steady: receipts, trucks; ‘ducks, 13'>2614Vse: geese, llc: hens, 18':@2l1c: leghorn hens, 17c; chickens, 21@ 23c¢; roosters, 13a 4c; broilers. 19@20c; fryers, 19 20c¢; turkeys, 156 19¢. Cheese—Twins, 13@13',c: daisies, 13% @ 4c; longhorns, 13%, 14¢ Potato market: New moderate; demand fair; isiana Bliss Triumphs, kansas Bliss g ritmpht, Bliss Triumphs, Per 15: Bliss Triumphs, Sai B50 1.90: 28 White Rose, $1.9062.10; : (0) Offered. Triumphs, $2.15, Old ——— moderate; demand light; market Idaho Russet Burbanks, $1. 83 1.05: Washington Russet Burbanks, $1.5 Michigan Green Mountains and Re HT Wisconsin Round Whites,

on track, 317;

FOOD PRICES

CHICAGO. June 1 (U, P.) Apples Michigan McIntosh, $141.35. Sweet toes—Tennessee, bushel hampers, $1a11 10. Carrots- Illinois, bushels, 75c@Al. Spinach Illinois, bushels, 10% 35¢c. Tomatoes— California, crates, £1.50, P° California, hampers [email protected] . #rv-—Florida, crates, $2.50 3.75. Onions (w0-1b, sacks)-— Texas Yellow Beruices, $1.07%a.

| England (pound) Eng. (60-d. bill Fave) Canada (dollar) .. France | Italy ! RE Belgium (belga) Germany (mark) . Ger, (travel mark). Switzerlana (franc) Holland (guilder) Sweden (krona) Norway (krone) Denmark (krone) Australia (pound) Czechoslovakia (koruna) Finland (markka) J Greece (drachma) . .0091'% Jugoslavia (dinar). .0235 New Zea. (pound) « 3.983 Poland (zloty . Portugal reSoudo) | . Rumania (eu) ... . Argen, (offl, peso). Argen, (unoffl. peso) Brazil (milreis) Chile (peso) Peru (sol) Uruguay

receipts, (90-9113 score), 20@201 5c

034724

stock--Supnplies market firm. Lou3k 8561.90: Ar1.90; Alabama Mississippi California California Bliss stock--Sup; lies

Hongkong rtdollar ). Shanghai (yuan) India (rupee) Japan (ven) in) Nominal:

BURBANK, Cal, June 1 (U. P.).| Arrivals, 41; —Airover Co. a subsidiary of the . Lockheed Aircraft Corp., today announced change of its name to Vega Airplane Co. The Airover Co. was formed in August, 1937, to carry on a Lockheed development project in which two Menasco engines are geared together side by side, to

drive a gnsle propeller,

‘shipments,

anni A

ine sa ow,

' | Union B

0.54 | Wa +029 |

undertone in | hour of |

1, to 1, and oats were |

Winnipeg and the late firmness at |

weather |

restricted. Offer- |

C fave |

URGED BY HOPKINS

| strength of capital has been drained |

spring |

— GOURT PLEA FOR Ty : USTODY OF SON

"| Private Agreement Is Ruled

* Determining Factor in Case n) Of James White.

Shell Un Oii . Socony-Vacuum uth Pac RE: outh R

_e Ia ve + I Swit & Co ve

| Texas Corp 7 | Tex Pac LL T Tide W A oil’ Timk-D Ax Transamerica 20th Cent-Fox

Boh Ce nt 1 Mrs. Gladys M. White's appeal to

"| the Indiana Supreme Court for | custody of her 6-year-old son | James failed today. The high court upheld a Putnam Circuit Court ruling discharging a | temporary writ of habeas corpus against her former husband, Homer ( C. White. According to records, the couple Yellow Tr “ ¢ 07, .. 1, Obtained a divorce in Wayne CounYoung Sheet .. 25'» 25%: 251, — &, ty, Michigan, in November, 1936, and at that time Mrs. White was Zonite given custody of the child and al[lowed $8 a week for support. Later the parents drew up a private agreement providing that the

REMINGTON COMPANY | child should be taken to the home

& P » Union Carb Un Pac pf Un Aircraft United Drug

Walgreen ayne Pump .. West Air _Brk . 18 Westing El .... 7

HAS SALES LES INGREASE of the mother’s sister in Springfield, Ill. In August, 1937, the father took | the child from Springfield to the | | home of his father near Cloverdale, Putnam Zounty. The Supreme | | Court and the lower court both de-

cided that the private agreement | abrogated the Michigan court order.

| | |

| War

took the!

recover |

Cesarean Sareea na see Caer

Training Conference.

Profit for Fiscal Year Up 28 Per Cent. NEW YORK, June 1 (U. P).—| Lire Remington-Rand, Inc, today re-| tate Court Upholds ‘ported an 8 per cent increase in| ‘Employer Pact | sales volume and a gain of 28 per | Agreements between employers | cent in net profits for the fiscal year | | and injured employees by which the | ended March 31. | employer guarantees a lifetime job Net profit amounted to $4,509,733, | in return for releasing the company after all charges, depreciation, inter- | from damages are enforceable con- | est and taxes, equal after preforsed tracts, the Indiana Supreme Court | | dividends to $2.32 a share on com-| held today. mon stock. That compared with | In another decision, the Court de- | $3,516,732 or $1.75 a share in the pre- | | cided that gross income tax must ceding fiscal year. | be paid on money received as disNet sales for the period were $49,- | Viutive San Corporalions that 377,245, highest since 1930. They | are tHE ul Ae Hs. Grows | compared with sales of $45,633,411 in | Alex Toni, ; . 12N3p0.s, fous 3 | the preceding fiscal year. Sales in the case involving the emplover-em- | foreign countries increased 9.6 per | Plovee Bpreement. Sphings Sgn 3 cent and contributed substantially | Co: in oa TiC 5 pa { oy to the net profit, according to James | COWrt. That court found for the NH. Rand Jr., chairman of the board. | company and Mr, Toni | “The sales and earnings during |° appeal. { EL cue, 8! ii 18 Injured in 1915 the first nine months of the year,” | Mr. Rand said, “were responsible Trial court records showed that | for the satisfactory results for the! Mr. Toni began working for the | year. Due to the decline in gen-| company in 1909 and was seriously eral business, the sales for the last| injured “through negligence of an- | quarter were below those of the cor- | other employee” in November, 1915. | responding period last vear. This | Under terms of the agreement, the was particularly true in March, | company agreed to provide Mr. Toni | when sales showed a decrease of | with work he would be able to do 20.3 per cent compared with March | and pay him the same wages he had last year. received prior to the accident. This A ————— agreement was terminated in 1931 CLASS A DIVIDEND when Mr, Toni was discharged. Since the complaint against the PAYMENTS DEFERRED company was filed in 1933, the Supreme Court held the statute of -— ‘ | limitations was no defense to this NEW YORK, June 1 (U. P.) .— | action, Dich of Hearst Consolidated | Circuit Court Reversed ublications, Ine, hav ‘red | : ; the divid » d Rye Selerred The Marion County Circuit Court 1 dividend due at this time on | ag reversed in the case involving | Class A cumulative participating | the gross income tax payments. | shares, it was announced today. | “Purpose of the gross income tax In a statement accompanying | Was to levy a tax upon the receipts their announcement, the directors | Of all sums coming into the hands said it was necessary to conserve re- | of taxpayers, without regard as to sources of the company “while gen- | Whether or not he may have suf= eral business conditions continue fered an actual loss in the transacunfavorable and in order that the |tion,” the Supreme Court said. company may be in the best position | “Clearly the Legislature did not possible to take advantage of im-|mean to tax only earnings from inprovement.” vestments.” lvn * filed the case Earnings of the company for the | Claude H. Crowder fi period Jan. 1 to May 22, were esti- | against the State Treasury Departmated at $630,000, against $2,644,000 | ment in an attempt to reco for the corresponding period last [$331.55 which he paid as gross inyear. The decline was ascribed to |COme tax. shrinkage in advertising revenue | He sald this tax was paid on experienced by newspapers gen- | $33,155 received by him as his diserally. | tributive share of the corporation —————————— | assets of the Crowder-Cooper Shoe » ~ y | Co. during voluntary liquidation in DAILY PRICE INDEX 1933. He claimed receipt of this NEW YORK. June | (U. P).— | money did not come within Dun & Bradstreet's daily weighted | 12W'S definition of gross income, price index of 30 basic commodities, | compiled for United Press (193032 equals 100) 4-H 0 ¥ M Yesterday ...... .102.43 | Week a80 «aves. .104.57 | Month ago ..vvvvanes 107.15 Year ago ‘ve .144 80 1938 high (Jan. 10) 117.06 1938 low (May 31) Y LOCAL ISSUES (By Indianapolls Bond & Share Corp.) The following quotations do not repress Dr sent actual bids or offerings. but merely I

State 4-H Club Leader of Purdue University, spoke today on “Why We Are Here,’ bhefore the seventh 4-H Club Junior Leader Training Conference at the Boy Scout reservation. Other speakers were to be A. P. Stewart, music specialist, Agricultural Extension Department, T. A. Coleman, Assistant Director of ExKokomo Water Works 5s 38 tension and Prof. O. F, Hall, all of Kuhner Pack Co Morris 6 & 1 .. 08) Purdue. ie NA A Shae at. 100 (a jong | A forum debating the subject Ohio Tel Service 6s “Which Leader Would You Choose?" SIRI eh was to precede panel and group disSeymour Water Co bs 40 ....1 cussions, Other activities include 31 Wane Works 8 Wl a discussion leaders’ conference unTrae Term 51 der A. Drummond Jones, a nature study group with Glen Lehker, Extention Entomologist of Purdue and recreation periods.

UNION AND 76 CITED

\ . Z. M. Smith, market (evel inquiries or

indicate the approximate based on buying and selling recent transactions BONDS Asked .00

Ind Rallway Ine 5s 97 Interstate Tel & Tel 5'%s 63. Indpls Water Co 3's 66

STOCKS

Belt RR 8t Yds com Belt RR St Yds Cent Ind Pwr : Home T & T P Hook Drug Ine com Ind Mich 77% ooo 106 Ind Gen Serv Co 6% pfd..... Ind Hydro Blec 7% pnfd 4 n

OW Ore 3

pid 512%% N Ind Pub Serv pid 6° N Ind Pub Serv 77, Pub Serv of Ind 67» Pub Serv of Ind 775 Brogtess Laundry Co com .. 8S ind Gas & Elee 4.8% pid . Terre Haute Elec Co 6% .

NEW YORK, June 1 (U. P.).— The Federal antiracketeering act was invoked today against an A. F. of L. trucking union, and 76 persons charged with preying on shippers to the extent of one million dollars a year. Those indicted by the Federal Grand Jury yesterday, including eight officers and delegates and 62 members of the International Brotherhood of Teamsters, Chauffeurs, Stablemen and Helpers of America, were named in four counts under the antiracketeering law and in one count under the Sherman Antitrust Act. Each defendant faces a maximum prison sentence of 41 years if convicted. The indictment said by threats and violence, the defendants collected tribute from drivers of out-of-town tiucking companies for the privilege of delivering merchandise, including foodstuffs, into New York.

BI ~T B CRL

El a Tala I

van Camp Milk Co com . (By M, P. Crist & Co.) Market St. Investment Corp.. 18.70

BANK STOCKS

Bank of America Bank of Manhattan Bankers Trust Bank of Y. Trust Brooklyn Trust Central Hanover Chase Chemical Commercial Continental .. ..... Corn Exchange Empire First National Guaranty Irving Manufacturers

LOCAL PRODUCE

Heavy breed hens, 152; Leghorn hens, 12¢: heavy breed broilers, Ibs. and over, 17¢; Leghorn broilers, 1'2 lbs. and over, 15c¢; bareback broilers, 12e¢; old roosters, 9c . 1 strictly fresh country run CRRS, sc (each full case must weigh 55 Ibs. gross: a net deduction of 15 cents for each full case under | oh dbs. will bs nade). utter 0 Ma No. 34 2 Butterfat-- No, 1, re "No. 2, (Prices quoted by Wadley Co.)

WASTE PAPER

AMERICAN PAPER

STOCK COMPANY RI-6341 320 W. Mi

25¢.

the |

HEARS DR. Z. M. SMITH

Purdue Leader Is Speaker at

ON RACKET CHARGE

ON THE RADIO

TONIGHT 6:00—Cavalcade, WFBM 6:30—Tommy Dorsey, WIRE,

7:00—Kostelanetz, Grace Moore, FBM.

7:00—~Fred Allen, WIRE.

Ninety-eight hours of prepara« tion go into the one hour of Fred Allen entertainment which comes to you tonight and each Wednes« day, NBC-WIRE at Tp. m Most of that time is put in by 7:30—Boston “Pop” Orch, NBC. Maestro Allen himself. Fred is one 8:00—Alfred Wallenstein, WGN. of the few air comics who write | their own stuff. And it takes about

five 10-hour days for him to write

i / is in President Roosevelt, who t | his own quips, his banter with considerable demand as a gues Portland, the “Mighty Allen Art speaker this month, will address the | | Players” sketch and the weekly ine

Naval Academy graduates in person |terview. and the nation via radio tomorrow. | Orchestra and vocal rehearsals, a The President is scheduled to be geript conference or two, and three heard on CBS-WFBM at 10 a. m. |yrehearsals of the entire show take The same network will bring you [up the rest of time. more graduating exercises later in the day. The U. 8S. Coast Guard Academy class of '38 will go on the air with its farewell ceremonies at | develops periodic enthusiasms for

12:30 p. m. from New London, Conn. | little-known composers. Last year mY the old German Stamitz had quite

a run. This season it seems to be Over in St. Louis tonight they're| William Boyce, the 18th Century going to have the preview of a world | English court composer. Having respremiere, believe it or not. Jerome urrected one of Boyce's symphonies Kern's new light opera, “Gentlemen | a few weeks ago, Mr. Wallenstein is Unafraid,” will have its first per= | now prepared to give us another on formance when the St. Louis Muni- | his Symphonic Strings program to= cipal Opera opens its 20th season |night (8 o'clock, MBS-WGN). Friday night. On the same program are Gauls Tonight, from the Municipal“ Suite Ecclesiasticus” and DubenOpera's open air theater, CBS will | sky's transcription of the Menuettn offer its network listeners a half-| from Mozart's “Haffner” Serenade. hour of excerpts at 9:30 o'clock.| Tomorrow at 6 p. m, same stations, “Gentlemen Unafraid” has a Civil | Mr. Wallenstein and his Sinfonietta setting, with Lincoln and Lee | will play music by Haydn and Zane figuring in the action. Oscar Ham- | donai, Sibelius’ "Valse Triste” and merstein IT and Otto Harbach were | the Scherzo from William Grant Mr. Kern's collaborators. I Still's “Afro-American Symphony.”

” ” ” n ” n

THIS EVENING

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

INDIANAPOLIS INDIANAPOLIS NIWA ATI WFBM 1230 WIRE 1100 WIV (CBS Net.) (NBC MES)

” ” ” Alfred Wallenstein, it would seem,

Rags WGN 720

(NBC-MBS) (MBS. Net.)

Eton Bovs Earl Gordon Tea, Tunes

Middleman’s Or, News Flashes L nannounced

Bill Anson Ruby's Musie Melodies Orphan Annie

Dick Trace anny Gilmans aul Douglas Lowell Thomas

-— — S33

Popeve Clark's Or, Bob Elson Twilight Songe

-2 wIND

Wheeler Mission Easy Ace Don Winslow oake Car 3 Lite Words A. Franklin ‘opeye Dick Tracy Let's Celebrate ews Orphan Annie Paul Sullivan

Cavalcade Man's Family

T. Dorsey's Or,

Man's Family T. Jorsev’s or.

Bolognini's Or,

SAAD aT | Adan

S233

Ben, Bernie Lone Ranger "

2 3

Kostelanetz Or, Fred Alien Fred Allen Crosby's Or,

Russell's Or, Tomorrow's Trib

Piano Twins " " ” " Unannounced " " " »

aFadeudal

—-— —

aS | ww

Gang Busters Kvser's Or,

Can Be Done » " "» " ”» ”»

”" ” » ”

Kyset's Or, Symphonie Musie

Sky Melodies

mEEE rt

Amos-Andy 1 Perk-Upners C mila’ s Or, Dance Or Denny's Or, © offey’ s Or. Codey's Or. — ——————— ~ Sullivan Dance Or, Henderson's Or, Te " Sorier’s Or, Rugsell's Or.

fimes. Andy News Baseball

Entertainment Lum-Abner Snorts Choral Festival

" » r Payne's Or, Lights Que

News Narve's Or, Rogers’ Or.

Ga ther's Or, Week's Or, " "

Review Dance Or Martin's Or.

O'Hare's or.

Indiana Roof Noone's Or.

Bourdon's Or,

Bradshaw's Or,

THURSDAY PROGRAMS INDIANAPOLIS CINCINNATI

Y WLW 00 (NBC-MBS) (NBC.MBS)

INDIANAPOLIS WEBM 1230

(CBS Net)

Creag WGN (MBS. Net)

Early Birds Devotions Organ Market-News

Music Box Revelers " N

td I

. Musical Clock Merrvmakers » eter Grant x Dessa Byrd Gospel Singer Vv. ews

Experience

Good Mor ning JLindiahr

Kitty Kelly Mrs. Wiegs Hymne Crane-Jovee Myri-Marge " hl

Hillton House Melodr Parade Bettv-Bobh Dr. Friendly

- ws s

Stepmother

Milky Way Apreh Strings Bie Nister Real Life

Woman in White

David Harum Goldheres Forenza Jones Vie-Sade Melodies Dr. Friendly Linda's Love Road of Life

Get Thin Children Painted Dreams Stella Dallas ——

Lav? w2exe® | aaa! an

- =

Daughter Serenade Unannounced Onin Ryan Mail Box

Pres. Desa Byrd

Mrs;

Roosevelt “Editor s 9 O'Neills News Weather

Farm-Home

News

Farrell n 3 Romeos

Tivestocks News

State St, Musie Services LL »

Touring Stores Man Singing Sam

Farm Hour

Musio

Farm Farm

Hall

Circle Burean

Hara Turner Rhythm Or, June Baker Len Salve

News Bohemians Coast Guard

RBettv-Boh Vinda's Tove Grimm's Daughler Grimm's Daughter Valiant Lady Valiant Lady ymns Kitty Keene

WIRE Reporter Headlines Varieties

——— ay Siig

S303

Mary Marlin Midstream Pepper Young Guiding Light

Backstage Wife Harding's Wife Public School Ma Perkins Pughsree! Ace rg Wirge's Or. Unannounced

Varieties Army Band

Songland Contrasts Stoke's Or, Leadoff Man

Baseball " "

-—- asa

Belmont Race

Wilson Angel Sedate Talk

Rubbertown

WS — 3

- “3

Hannah Marv Sothern Singing Lady Unannounced

Police Court Benno Rabinoff Unannounced Wash. Calling

Bakov's or. Ne

C ok Braine Audition book

» Interviews h

WPA Program

5303

Bill Anson Weher's Or, Sophisticated Orphan Annie

Nick Trary Happy Gilmans Paul Dourlas Lowell Thomas

Organ Doris Rhodes en, Tunes

maaan wun oe us L353

KEY NETWORK STATIONS (Subject to change): NBC-BLUE—WJZ, 760; WOWO, 1160; WENR-WLS, 870; KWK, 1350. NBC-RED—-WEAF, 660; WTAM, 1070; WWJ, 920; WMAQ, 670. CBS—WABC, 860; WJR, 750; WHAS, 820; KMOX, 1090: WBBM, 770, MUTUAL-WOR, 710; WHK, 1390; WHKC, 640; CKLW, 1030; WSM, 650.

CROSSWORD PUZZLE

HORIZONTAL 1, 6 cone ns, president of Czechosloe vakia. 10 Above. 11 Bugle plant. 12 Form of “a.”

13 Behold. 14 Cot. 16 Musical, note. 17 Wager. 18 Rolls of film, 20'Newspaper- c paragraph. : 22 Bear-like animal. 23 Code of laws. 25 Building lots. 27 Small. 20 Measure of area. 31 Baking dish. 32 Writing tool. 33 Italian river. ‘34 To chop. 36 Queer. 38 Courtesy title. 39 Line. 40 Pertaining to birds. 42 Stir.

15 Lairs. 17 Girdle. 19 To prepare for publication 21 Thin tin plate, 22 His country’s / capital. 24 His country’s monetary unit, 26 Finale. 28 Roof point covering. 30 Card jjame. 33 To delineate. 35 Cunning, 37 Pedestal party 38 Ulcer. 39 June flower. | 41 Form of “be.” 43 Diamond cuts ter's cup. 45 Company. 47 Beers. 48 Silkworm. 50 To murmur as) a cat. 51 Night before. 52 Call for help. at sea. 54 Deer. 56 Sound of surprise. 58 North America)

Answer to Previous Puzzle

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Europe. 61 He succeeded —— WhO resigned from office.

VERTICAL 1 To name. 2 Music drama. 3 Musical note. 4 Formation of eggs. 5 Rodents. 6 Stair rails. 7 Half an em. 8 Oleoresin. 9 Drunkard.

44 Contempt. 46 Tree. 47 To love. 49 Hops kiln. 50 To peep. 51 Those who run away to marry. 53 Before. 55 You and me. 56 Hail! 57 Electrified particle. 59 Dye. 60 His is one of the ee farm states in