Indianapolis Times, Indianapolis, Marion County, 25 June 1938 — Page 13

SATURDAY, JUNE 25, 1088

AUTUMN RECOVERY HOPES BOLSTERED BY STOCKS SURGE;

Week's Market Volume Totals 10 Per Cent of |= Shares Traded Since Jan. 2; Wall

Street Loses Gloom.

NEW YORK, June 25 (U.

market

trading thus far this year.

Saturday. The reve: F te

OL IIS

last week, for example, were® less than the total volume on |

Thursday transactions lion shares. Senti improved as stock rose Before that gloom prevailed. The market had been in an advance as the year started. It made its Jan. 11 at 13435 in the Dow-Jones ustrial average. From then it ned with some interruptions intil March 31 when a new low since 1935 was touched in the average at 8895. Then came a recovery to 121.00 on April 16; another decline 74 on May 31, and irregularity until the end of last week. This week prices rose in each full session and lume gained steadily, the first

iness steadil

to 2 p. Mm, when totaled two mil-

ment

y declined and stocks flected the lower earnings of nistry; omission or reduction of fends; increased unemployment gener al deflation of commodity : jovernment the situation and r it Congress leaned Or a time and passed lightened some of the thhe

h

i 1 that items of notably t tax and the ca

apt

ac e pital gains Treasury adopted an inflation A discontinued its policy of

high for the year on|2

five months of 1938

took |

previous | surplus |

P.).—One week of stock advance has changed the attitude of the financial district from one of defeatism to hope—hope that an autumn business recovery of broad scope will develop. On that hope, and little else, the stock market was whirled to new highs since early March in the most active Sales for the week amounted to more than 10 per cent of the volume from Jan. 2 to last

sal of trend was the more conspicuous because | marked contrast with recent markets.

Transactions

A Am Am Am Am Am | Am

LOCAL LIVESTOCK

HRI ot 8D rr :

24 235,

290) Good 1 290- 350) Good

Packin (295-

(2

{3-

1435-5501 1275-530) Medium 8s! RY Pigs— 140

(750-900)

1900-1

(1100-1300) (1300- 1300) 30-900) 900- 1100) He: 1300) G

(550-150) G

$s Sows

Good and choice .

Medium CATTLE

—Receipts, 50—

100) Cho

(olain)..

Helters —

(750-900) Good (550-900) Good (630-900)

Common .

lization and desterilized the | Ald od

that fund, thus increasing \ tential credit available. siness took no advantage of that | available for a long time. came the spending-lending | am and with it a horde mors further dollar devalua in prospect. These ru down and caused a rush abroad. But they were deiciently to appease the con-

f Of

on

he dollar

DOW-JONES STOC K AVERAGES 30 INDUSTRIALS 131.94 129.08 113.238 108.50 168.13 1340.35: low, OR.95, 194.19; low, 113.64, 20 RAILROADS

Todas Yester Week Age Manth Age Year Age High, 193% High

2.8% 1.68 0.13 09 —1.13

fav

Today Yesterday Week Age Month Age Year Ape High, 1937, High, 193%.

61.16: low, 2R 91, 61.48: low, 28091, 15 UTILITIES Today Yesterday Week Age Month Age Age Hitch, 193% High, 193%

Year .h 13.14, 19.65.

21.84

5

low

low

N.

BOND PRICE INDEXES 2 20 Inds, Utils, R]1.1 93.0 . 81.1 948 84 |0.2 . Me 90.8

60 Bonds | 8.9 168 33 3.8 9.2 96.3 82.3 0.3 180.5! 1 y

Yesterday Week ate Month age age YEArs age High Low High 106.0 37 Low ow 8 F9.3 923 5 High 108.2 Low 103.5 ght, 1838 Standard tals

Year Twd 192%

si. 100.2 a3 ics Co

Bond franspactions approximated | £3.550.000, against $2,160,000 a week | ago i0 MOST ACTIVE BONDS i Net Month Year | Change Ago Age | 133% e8g | R's 202 KEE 90% 33 TE s0ly 104% | 20 29% 1994 Tits 83's

Close BLO 4'¢s 0 19% CMSIPAP 58 © 94 K Pao 4 2% Int TEX 96's NYCSID 42s C8 33'% B & O 35s 4% . 43 Ne Pae is 97... 3'% B&O Bc 85 « 23% BR & O 5885 ... 232 Se Pac 4's 81... 12%

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18 MOST ACTIVE STOCKS Net Close Change 5% 1% 2% 1% 18% 1 54% 13% 51's 13% 1 58'% 3% 30% 2 ELM LAY 63%

Lew 1“ 0g 18% 51's st 11% 84 53'% 313% 2] M's RL 3R3g 64 23 3% NY | Int Paper Pr... 31% 30'¢ 31%

| Stock sales approximated 1,160,000 | shares, the largest two-hour session ' since April 9 when 1,410,000 shares | were traded. Curb stock sales were | 127,000 shares against 27,000 in the short session last week.

| Schulte Retail | Lott

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F. D. R. Returns to Air in Ceremonial

Reply to Prince Gustav of Sweden; NBC Symphony Series Ends Tonight

Smallens to Conduct First | Lewisohn Stadium Concert

“Good Music” by James Thrasher As far as radio is concerned, the day of the seasonal slump in music is gone. So, although we bid farewell to the NBC Symphony Orchestra tonight until next fall, we may welcome another season of the New York Philharmonic-Symphony at Lewisohn Stadium tomorrow. Tonight's 33d and closing NBC Symphony concert (7 p. m., NBCRed) will introduce as guest conductor, Hans Wilhelm Steinberg. Although no mention of it is made in connection with the present broadcast, Mr. Steinberg originally was hired to be “drill master” of the orchestra next season, pending Maestro Toscanini's arrival, The present series was extended an extra week to permit Mr. Steinberg’s appearance | tonight. The new conductor has done simi- | lar preparatory work for Mr. Tosca'nini with the Palestine Symphony | Orchestra. and has been one of that { body's regular conductors for the | last two years. Before that he was an opera conductor in Cologne, Frankfort and Prague. The subject of the NBC Symphony's conductor brings up a ques= tion which, while possibly provincial, is justified. Why, one is inclined to ask, have native conductors been so carefully avoided during this first season? Here is an orchestra of almost unrivalled excellence, organized by an American broadcasting company for American audiences. Yet I can recall only one American conductor in one concert of the 33. That was Dr. Howard Hanson, who appeared to lead the players through his new Third Symphony. No one should question the selection of the matchless Toscanini as conductor of the majority of cons

| certs. And the other batonists (they

| included, among others, an English-

»

| man, a Canadian, a Frenchman, a | Pole, a Greek and another Italian | beside Mr. Toscanini) all have their own fame and following. But why, with all the current championship | of American music and musicians, | should a comparatively obscure con=

| ductor be chosen to prepare and in-

augurate next season's series? Mr. Steinberg may be an excellent artist. But we also have distin-

| guished practitioners in the Amer-

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7:00—Philadelphia Orch, WIRE. 7:00—<Prof. Quiz, WFBM. 7:00~NBC Symphony, NBC. 7:30—Goldman Band, CBS, 8:00—Hit Parade, WFBM,

TOMORROW

10:30—Chamber Music, NBC. 12:00—Magic Key, WIRE. 1:00—Everybody’s Music, WFBM., 6:00—Charlie McCarthy, WIRE. 8:30—Round Table, NBC-Red. 9:30—Jack Benny, WIRE.

Monday brings President Roosevelt back to the microphone after a two days’ absence, along with Crown Prince Gustav Adolf of Sweden, Secretary of State Hull and other

celebrities. The occasion will climax celebration of the 300th anniversary of the Delaware Valley's colonization by Swedish and Finnish settlers. All three major networks will carry a program at 8:30 a, m,, when the Swedish Prince will present the people of the United States with a monument at Ft. Christina Park, Wilmington, Del. The President will accept the gift, then present it to Governor Mullen of Delaware. BE. Rudolf W. Holsti, Finnish Foreign Minister, is to bestow a medal upon

” ”

.

President Roosevelt during the broadcast time. OBS also will describe the arrived of the ship carrying Crown Princé Gustav, Crown Princess Louise and Prince Bertil at 6 p. m. tomorrow, And at 1 p. m. Monday, MBS and CBS will carry speeches by the Crown Prince and Secretary Hull,

” » ” From Quebec, NBC-Red is to bring listeners a portion of the solemn high mass closing the Eucha-

ristic Conference of Canada from, 9:15 to 10 a. m. tomorrow. Imme= diately following, Pope Plus XI is scheduled to be heard from Vatican City for 15 minutes.

” » ” Jack Benny ends his currendé broadcast series tomorrow night,

and will introduce his summer sut=« cessor, Dave Elman. Mr. Elman’ Hobby Lobby, voted “the outstande ing show of 1037” will start funée tioning July 3. . . . The CBS “Sate urday Night Swing Club will have a gala hour-and-a-half broadcast ab 10 o'clock tonight celebrating its first anniversary on the air, WFBM will carry all but the first 15 minutes. Connie Boswell, the Mills Brothers, Louis Armstrong, Casa Loma, Casper Reardon, Red Norvo and Mildred Bailey are only a few of the announced participants.

. ” .

THIS EVENING

(The Indianapolis Times Is not responsible for Innccuracies

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SUNDAY PROGRAMS

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Silent LL

INDIANAPOLIS

CINCINNATE (NBO MB)

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