Indianapolis Times, Indianapolis, Marion County, 27 June 1938 — Page 13

MONDAY, JUNE 27, 1938

STOCKS IRREGULAR

AS PROFIT-TAKING

AFFECTS EXCHANGE

Curb Shares Advance After Hesitancy; Bonds Also | Register Rise. |

NEW YORK, June 27 (U.P.).—The! stock market turned Irregular to- | day when profit-taking increased. | U. S. Steel declined a point to 53'i. Other steels eased. Aviation and utility issues held small gains. Chemicals, oils and rubbers eased. Some farm shares held advances. Early in the fourth hour, Amerfcan Can was at 97's, up 2's; Amer-

ican Smelting 467, off 1; American Douglas International ;} Kennecott 363:, off 135: United Aircraft 287,

up 1, and Wright Aero 913, up 778. Curb Gains Fractional Meanwhile, curb stocks turned upward after a hesitant start, Gains mostly were confined to fractions. Transact tions in the first hour

nsactions in the first hour amounted to 96,000 shares compared with 126,000 Friday Pittsburgh Plate Glass led industrials higher with a gain of around 2 points. American airlines, American Cyvananid “B,” Babcock & Wilcox and Fisk Rubber had small

gains. Gulf featured oils with a gain of more than a point. In the utility

group, American Gas & Electric was up more than a point. Mining shares generally were steady.

Bond Trade Irregular

At the same time domestic corporation bonds rallied after an irregular opening and turned sharply higher in forenoon trading Demand centered in rails where initiai s exten to a point were replaced by Ss ranging to 312 points. Chicag urlington &

Quine: Maine, Great Northern York Central bonds wer yrominent on the advance

3 Toop , 3 Spread to other groups ana

adva of a point 1d more wert recorded in many leading issues, International Telephone & Telegraph 455s of 1939 featured the rise in advancing a point to 97 on first-hour sales approximating $319,000 Chalmers, General Steel Casti and Wheeling Steel paced the advance in industrials. XI. S Government obligations around previous closings in

Buving

utilities

hovere

a relatiy Gains and losses rang point were about equal

Foreign doll

onds were quiet and lar

Bill Widens Control byat Brokerage Firms

ASHINGTON - bib White House ai yhouheed tot Roosevelt has a bill imposing the same tions on over-the-counter sebrokers as apply to brokers |

» stock exchanges, {

bill places regulation of the | ounter dealers in the Seand Exchange Commission, the SEC the same regulatory powers for them as it exercises over brokers on the curb and stock ex-

changes, S

N. Y. Bonds

Domestic corporation bonds declined irregularly in moderately aq e trading today Rails met considerable profit taking

at the outset and showed losses of fractions to a full point. Scattered gains extended to more than a point. Utilities held around previous closings, while industrial company liens edged off irregularly. U. S. Government funds were mixed in a dull trade. Opening gains ranged to 1-32 point a 1st losses of as much as 3-32 pon Foreign obligations were quiet and steady.

BOND PRICE INDEXES

20 20 20 60 Inds. Rails Utils. Bonds Yesterday ..... 811 51.8 95.0 18.9 Week age ..... 0.8 19.6 23.5 13 Month ago .... 9.6 51.9 93.0 IIR Year ago an. 91.5 099.4 010 Two vears ago. 0.8 92.3 105.6 96.3 1938 High . «+ 33.0 0.0 95.5 82.5 1938 Low ...... 19 13.9 Ri.3 0.3 1937 RHizh ..... 95.0 101.2 106.0 100.3 193% Low ...... [0.1 69.3 22.3 81.1 1936 High ....» 91% 100.4 106.2 100.2 1938 jow ...... 90.0 813 103.5 93.3

(Copyright, 1938, Standard Statistics Co

U. 8. GOVERNMENT BONDS Treasury Bonds

Federal Farm Morizaz e (Sonds 1 10

Home Owners Loan Bonds

Sa O39. 44 \ 3s 1932 106.1

DOMESTIC BONDS

FOREIG iN "BONDS High Low Las A 80° A 10 ( C 103 108 C 5 7 D 96 9575 F1 103 103's G 24% 24, Gi 22% 22), lia } 79% 793% Jap 65 + J 4 353, Pa : 3 2 2 92

Ne ihoTs " bareback ile C ter 10c. sggs—No. 1 strictly fresh country run, 16c. Each full case must wei ght 55 lbs. Rife a net deduction of 15c for each

—No. 1, 28'2@29' 2c No. 3 25'2@

260 “Eiferia No, No. Ly 2065 0 2, 1%c. dlev Co.)

ull fate under 55 Ibs. will be made.

Hogs Maintain Peak of $9.20

On Mart Here

Approximately 6500 hogs Sold | po per Asphalt.

steady here today, the Bureau of | Bark Sion ’s vf. Boeing Air .... { Borden ........

The peak price remained at $9.20] on averages of 200 to 210 pounders. | The steady trend also was recorded |

Agricultural Economics reported. |

on packing sows which bulked at $7 to $8. The market was completed in a healthy manner, with fresh receipts and a small carrvover well cleared at midsession. Other leading terminals reported losses of from 10 to 25 cents, with the maximum decline

on hogs with weight. Butchers scal-! {| Champ Paper . Ches & Ohio ...

ing over 240 pounds closed locally last week at a substantial decline. | In the activity today, buyers placed a few small premiums on corn fed hogs of uniform weights. Receipts estimated at 1500 in the cattle section included a large number of Western stockers. The offer-

{ing of slaughter cattle included ap-

proximately a dozen loads of steers | which cashed full steady to strong in a moderately active trade. Other classes of cattle also sold fairly readily at full steady rates. Most steers were medium short

feds at $8 to $8.85, with a car of} { good medium weight steers held at

$10 at a late hour. Included in the |

| showing was a consignment of 44

head of 1052-pound steers bought to arrive at $10.25. Several lots good fed light yearling steers and mixed vearlings were substituted in the absence of choice heifers at $825 to $9.50. Most fed heifers ranged from $850 to $9.35. with grassers, both steers and heifers, mostly $8 and under. The practical top on both bulls and fat cows rested at $6.50. Vealer prices gained as much as 50 cents, with the choice end at $9. The recent rains assured good pastures for a while, and country buyers bought stockers more freely than last week, prices ranging from $6.50 to $8.50. A limited run of approximately 500 sheep, comprising mostly new crop lambs, cleared at steady prices, with better grade springers largely 38 to $8.50. Buck lambs sold mostly $1 under comparable ewes and wethers., with most throw-outs $6 to $7. Other classes of sheep were too scarce to allow a test.

HOGS

J ine 1]. savvenenss . $ 210 13. ...iirattasaeraniacs 2.25 14, eects i.nrrnancnnsnnnss 9.00 13, settsnrianinnsisnnnnnnns 8.15 JB. i sturrtianiinsnaaines 9.20 IT. tercisinitncnniens 213 B. secaisssnraienian 2.13 B. .iterraiiic tania 9.135 i shasbane 9.15 0 B. tatiersarstasebirnnenan 9.20 437 3. Grrsirsaiann wiesiaaren 2.30 3 fe asa Wasisiseynrbabbnsns 2.30 6960 DB. tuieiesasasaassavanes 9.20 1700 23 Brsaanas sarsaasas 2.20 60 Barrows and Gilt {140-1607 Good L B40a 2.10 1160-180) Good R70 9.153 (180-200% Good 8.00% 9.20 1200-220) Good 200m 5.20 220-2501 Good B.73@ 9.10 1250-290) Good 8.304 3.80 8.304 8.50

Fy «Talay

NDIBP

NDAN RN

Heifers Good ............. 3.25@ 3.00 00) Good sasranaaana 7.50@ 8.25 ) Common ....uuvee 6.25@ 7.25 Cows All Weights— D0 .cnherbaiiianuiei cones 6.25@ 7.00 MediUM . ...tunrstrasinesss 575@ 6.235 Common . asvancsahisnh 5.25@ 5.75 ow ¢ er and cutter 3.75@ 5.25 Bulls Excluded (all weights)

(250-400)

WN-800) ChoicP s.ievvnnnen 7.25@ 8.00 RNN-1050) Choice ....ca.eeeen. 7.25% 800 300-800) Good ......o00nuns 6.73@ 7.25 (RON-1030) 3 T5044 R00 300-1030 6.75% 7.50 6.00@ 8.75 Heifers (550-750) Good and cholee.. 675@ 7.75 ymmon, medium 6.00@ 75

SHEEP AND LAMBS — Receipts, 442—

pi “caly es. $8.30;

une 27

NE \ Steady; 180- 200 Ibs £9: 200-220 ibs.. $83.90

1606-180 Ibs. $8.90: 220-240 lbs. $8.30: 240260 Ibs. $8.70: 260-280 lbs. $8.60: 280-300 Ibs, $8.50: 300-323 Ibs. , $8.40: 325-350 Ibs.. $8.30: 140-160 1bs.. $3.7 120-140 1bs., $8.50; 100-120 Ibs £8.25: Touahs, $7. stags, $6: calves, $8.50; lambs, $8; clipped lambs, $6,

U. S. STATEMENT

WASHINGTON, June 27 (U. P.).—Government expenses and receipts for the cur- | rent fiscal year through June 24, com-

pared with a year ago

This Ye Last Year Expenses ..$7.581.943 oH 035 $7.986. 350. 221.80 Receipts... $6.183.779.123.2 031,412.30 Gross rec.. 1.398.164, 483.30 318,809.00 Net deficit 1.3 94.933.8 4 909.00 sh bal... 2. 416.62 2.568. 984. 922.88 . oh To 392.11 0.079.65 Pub. det 37 631.49 36 39 3.849.647.45 Gold res. 12. 39 519.672.59 Customs... a: 4014.52

aN APOLIS CLEARING HOUSE

FOREIGN EXCHANGE

NEW YORK. June 27 (U. P.).—Foreign

exchange easy Following are noon cable

rates on major currencies: Net Cable Rates Change England 47oind) £4.95 9-18 —.00 11-16 Er (60 rat 494 13-18 — LL is C da os za39 A (fra: 1) .. 0278 11-18 0000" 5 16 It Mra) ....ec.i .0526% +.0000!s Belg am (belga) ... 169612 —.0002'2 Germany (mark) .+ 4030 -—.0001 Ger. (travel mark) .2325 <4 .0015 Switzerland (franc) .2294 -—.0003 Holland (guilder) .. _.5335 —.0007 Sp peseta) ..... Unquoted Sheil (kr¢na) ... .2536 -.000. Norw=y (krope) .... 44 ~.000. Denmark (kyone) .. 221 re

Ex-cell-o

—Hogs—

INES sootiiectincaninianaia-32.301.000 ... 6.679.000

Air-Way El ....

Alaska Jun . Allegh Corp

All Cp pf $30 w.

Allied Stores Allis-Chal

Alpha P Cem ..

Amal Leath .. Amal Leath pt.

Am Chain & C

Am Enc Til

Am Inter .....

Am P&Lt

Am P&L 5 pf A

Am Rad & SS

Am R Mill cv pf

Am Smelt

Am Stl Fdies.. 2

Am Stores Am Sugar Am Tob B Am Type F

ype cea Am Water W ..

Am Booien Am

Armour Ill Armstrong Ck

Asso Dry Gds . | Atchison “h

Atl C Line

Atl G&WI .....

Barker Bros

Borg-Warner

Bdgept Brass ..

Briggs Mig Bucyrus Erie Budd Mfg

Budd Wheel 2. | Bu lova W

Butler Bros Byers A M

Callahan Zine . Calumet & H...

Canada Dry Can Pacific Celanese Cent Foundry erro de Pasco Certain-teed

Ch& Nw Ry

Chi RI&P Ln

Childs

c hrysler Coca-Cola Colgate-P-P

Com Credit

Com Inv Tr Com Solvents Comwith Edison Comwith & So Comwlth&So bl Cong-Nairn ! Cons Aircraft Cons Edison . Cons Laundries. Cons Oil ...... Con Textile ... Container ..... Cont Bak Cont Bak B ... Cont Bak of Cont Can ...... 4 Cont Mot seen Cont Oil Del Gorn prod Crane Cream Wht Crown Cork Crown Zeller

1cible St iss-Wr

Deere & Co ... 2 D Lac & W Diam M pf .. Diam T Mot Dome Mines Douglas Air Du Pont

Bast R Mill

Eitingor Elec Boat . Elec Pwr & Lt El Pw&L $8 pf! El Pw&L S87 bp Eng Pub S ..

Fapardo Sug Fed Screw . Fed Wat S A .. Firestone Flintkote Foster W heel Freept-Sulph

Gavlord Contain Gair Robt Gair Robt pf Gen Cable Gen Cable A Gen Electric

Goodrich of Goodyear can Gotham Hos .. Graham-Paige.. Granby Gt Nor Ore . Grevhound Cp.

Harb-Walk Hecker Prod

Hu 10D Motor

Ill Central

Inspiratn_ Cop T™

Inter R

i Inter 1 Interchem Intercon Rub .

Int erlake Int Agric

Int Business M 1

Int Harvester Int Harv pf

Kroger G & B

Lambert ....... Lee Rub ......

Leh P Cem Leh Val RR Lehman

L -O-F, Glass ie. 35%

Mack Tr Macy RH Maracaibo Ex 1 Mid

McGraw El . McKeesport

McKess & Robb Mengel .........

Mesta Mach Miami Cop Mident Pet

Midland Stl ... Minn Hny .....

Minn-Moline Mission Corp

Mo-K Tex of ..

Mohawk Cp Monsanto Mont Ward Motor Prod Motor Whi Mueller Br Mullins Mfg B

Murray ........

Nash Rely Nat Acme Nat Biscuit Nat Cash Reg

Nat Dairy pt A

| Nat Distillers Nat SSpsum Nat Lead

Nat Mal & Stl C | Nat Steel ...

N. Y. STOCKS

| DOW-JONES STOCK AVERAGES

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Dear DeILI

THE OPERATION

the ‘average’ versies.

EARNERS

employes.”

al NOS ro Tosa

New Business Books Available at Library

The following new business books now are available at the business branch of the Indianapolis Public Library:

SOCIAL SECURITY ACT IN

“Involving some immediate “tacrifice, with benefits basic theory not easily unders stood by

social concepts and vol litica PROFIT SHARING

“There is an extraordinary revival in the sharing ot business profits with THE COMING TION. by Major Angas. other brochure by “The Coming Strugg!l of hg op LS LE by A. Hower, and ae ts into lette INVESTMENT PRINC PLES AND ANALYSIS by Shaw Livermore. Principles of investment, i analysis, J Briain

the same author,

TER WRITING, How to but warmth

or court work

Saturday ......00 Seasaaanans 131.94 2.88 Week ARO ....eossnsssnessss 11861 +538 | Month Ago .....cevvsvvnees. Holiday

fvear ARO ........cieiinns S601 —1,

High, 1938, 130.35: low, 98.95. High, 1937, 190.40: Jow, 113.64, 20 RAILROADS

Saturday .....cvovnnvnninnnn 25.43 403 Week Ago ....... EEE py Month Ago .......0 vesssessss Rolid Year ARO .......ci.iineiiniiin 50.1% om

High, 1538, 32.33: low, 19.00, High, 1937. 61.18: low, 28.91, 20 UTILITIES

Saturday ........ic0iiiieen 20.58 10.45 | Week ARO ......ccovvnnnssins 19.36 - 0.82 Month A268 ........coceivivnnn Holiday Year Ago sabes 25.43 0.61

High, 1938, 21.86: low, 15.14, High, 193%, 37.54; low, 19.85,

Net High Low Last Change

Nat Sup 2 pf . 28 28 28 ‘ed | | Natomas ...... 10'2 10'2 10'2 — a {| Neisner . 20% 20% 2034 4 12] Newport In 15'« 15% i5'a — Ma N _Y Central 13 x 13 15 — = NYC&SL 137s 37% 137 — % NYC Omnibus . 2 oh Ph es NY NH 13% a 3a . NY NH * H ol 4% 4a 4% Ya No Amer wae 2136 21% 3103 4 34 No Am Avn ... 92 9's 0a — 4 No Pacific ..... 10% 10% 10% Ya ln ghto ofl 1 11 1% + Ya | liver Farm Ea 277s 277: 27% 4 la eu 113% 11% 11M -—- 4K { Oppen Coll .. 6 6 6 “an Otis Steel 10%: 10'; 10'a — 3 Owens Ill Glas: 65 64 64 -1 Po Pac G & El ... 28% 28 28% + Pacific Lig 39's 39's 391, — 14 Packard . 44 4’, 4: 4 Ws | Paramt Pict 97a 97s 9% .... | Para Pic 2 pf. . 10!> 101; 10'2 3a | Park Utah 2% 25% 2%: Patino Mines .. 93, 9% 9% — W Peeriess . B's fla fla enney 14 74 4 } ) Penn D Cem 43: "ga, ‘4 a — 13 Penn RR 18'4 18% 1814 — 14 Pet Corp Am 11 11 1] Phelps Dodg .. 26 26 26 -— 1 Phil Morris ...104 104 104 - 1 Pillsbury 23 23 23 3 Pitts Sc & B 5) Tih Ta Ta Pitts Stl 13% 135s 135: a Fivmouth Oil 207, 2034 203, 3s B 9? 0% 9% 4+ W| Pootal Tel pf .. 3 3 3 Press Stl Car . 8% 8 $n . Procter & G . 313: 51% 813% 4 34 Public Serv .... 30% 30% 303% .... Pullman ....... 30 207: 297: — | Pure Oil nae Mh 107% 11 sacs Purity Bak . 105 10'2 10'2 + Pure Oil 5 pf... T9'a "9% 9% — W| ll | Radlo wees 83% 63% 82 — 1% Radio-K-Or .... 2! 2% 2% .... Rayonier vas 1138 11% 11a 4 WM Reading 2 pf ... 19'2 19'; 19'2 4 Rem Rand .. 13 13 13 -— a eo Mot ‘e 2 2 2 . Republic Stl . 18'% 17% 173% — 53% Revere Cop . 13 13 13 Ta Reyn Spring ... 73% 734 7% LA Reyn Toh B . 41 4] 41 Richfield Oil .. 6'% 6'% 6's + — 38's 38 38 EL 1 ;. §& 4 ; 17'% 17's 17's 1a €7%; 673: 67% 3: Sg Sa Sa 73 3 "3 1 Seabd oil 217 2174 217; -— 1s Sears Roebuck. .. 65 64a 64a — 3 Servel ne 145; 14%; 1438 .... Sharon S H 17! 171% 1712 — 15 Shat‘uck 854 83a 8%a .. Shell Un Oil 15%, 147, 15 ‘e | Silver King Ta 7 7 .e | Simmons 21, 21 21 seen] Simms Pet 234 23% 23% +. Skelly Oil 264 2614 26's — 1 Socony Vacuum 143; 143, 145%: — 23 So Am Gold 2; 2's 21g = Ip So Por R Sug . 16!; 191, 19'2 So Cal Bd ..... 22% 921, 93%; South Pac « 14% 14), 147% Ta South Rv 10 9% 9% — Ii Sparks With + 3H 3's 38 ... Sperry Corp ... 22% 2233 223 + Spiegel Inc .... 10 97% 2% ... Sauare Di wove 2134 213% 2134 ... $ rands 7 73 73 ‘es 54 C Tob ..... 13% 13% ja © Std G&E nf Biz 3%; 8% Std G&E 7 pf 214 21% 21 — MV, Std O Cal 303% 30%: 30% — '% Std Oil Ind Mi 3% 3% — 3% Std Oil NJ 573: 513%: 5°? -_ 3 Stew War 87a 87 8% ... Stone & Weh aq gr 8° ik Studebaker Tr 5% BR ois Sunshine Min .. 10%; 10'; 10'; — Sunerhtr 3 25 25 -_— 1 Suneriar Oil % 234% 23% : Suth Pan 25 24 241 Swift & Co 1753 17% 17! Srming Gould . 7'% a 7% 'enn Corp R LY Texas Corp 3a 43'a — a Texas Gulf Pre 13, 33, ex G Sul 331; 231% 3312 1 5a r& PCO - 10 * ha 10 : I'ex Pac LL. T . 9% 9'% 9% 1a Thermoid : uo Ve 3'2 3'2 . Thompson Pr 137% 1374 137a 3a Tide W A Oil .. 11'% 1473 14'a — 1, TW y Oil pf . B8', 88'. 88'; 12 + 113s 11%& 113s 1a 1035 10's 10's — 14 67a 67s 67s ! la he 3. I ia a 47x 47% 473 a 20th Cent Fox 237a 237a 237s Twin Coach Ts 73% 7% wh { Und Ell Fish 541% 54 54 Union B&P ith 11 111% 1 Union Carb "8's 178 18's — 14 Un Oil Ca 2035 203% 203% gs Un Aircraft Cp 2772 273: 273% 's Un Air Lines 834 8! 8'z Jn Carbon 47! 47! 47" 3 United Corp 27a 27a 274 — 1 United Cp »nf 287, 28! 2873 15 Un El! Coal 51g 53's 51g ‘a United Fruit 61's 61 61 la Un Gas Imn 10 10 10 - ls Un Panerbd 5% 53a 53a la U S Gynsum 83: 83': 83'2 . U S Ho 7 7 7 + 15 US In 2034 20's 204 J+ 4 i S Re 53a 53a 55a — la J § u 327; 32%, 212 — 14 FIERCE gt ge J 8 B12 5 US 537s 523% 53 — 1! US 104 104 104 +4 3% Univ clops Stl 10 10 10 + 15 —t— Vanadium 134 17 17 -_ 1 Va-Car 6 pf ... 257; 257% 2578 = Ye | en { Walker (H) .... 40 40 40 . | Wa Iwor th “ee TT: 3% 77% -+- 15 | Warner Bros ... 57%: 5% 53: + 13 Web Eisen 2'2 21, 22 West Auto Sus 18 18 18 + 15 West Md crass 33) 3% 3%: West Pac our 1Y8 1! 1! West Union .... 23% 247, 247, — 3 West Air Bke 241; 24 24's 4 Ta Westing El 94 93% 93: — 24 Westvaco . 143 3 43 4 1 Wheel Steel 2374 a a : White Mot 93; 93% 9% Whi‘e Sew M nf 147, 1472 1472 Tilly overland 17: 172 17a Overld pf 4';3 4', 4'a Ta n & Co 43 4° 43, 1 Woodward Iron 1515 1315 15! -— 1h Woonlwo 447, 441, 4473 — 1; Worthington 17 17 17 -_ 15 —ye 13%: 13% Iv = Ww 16% 16% 16% — 3, 40 40 40 -_ 1 16% 16h 16% = 3, — Zenith Rad .... 13% 15% 15%

REPORTS INCREASES IN BUILDING HERE

Survey Shows Construction Gain for May.

Indianapolis followed the nation's average building trend in May with | an increase of more than $240,000 over the April contracts for resi- | dential work, T. E. Toll, Indianapolis manager of the reports division of the F. W. Dodge Corp. said to- | day, following completion of a survey. “There is strong encouragement in the record of residential con- | tracts awarded here in May,” he | said. “Private and public work moved over the April levels. Residential activity continued in an up- | ward trend.” | Private work accounted for $532.000 of the Indianapolis area total. The May figures were 8 per cent over those of April, total of $451,000. The May contracts to be financed | from public funds totaled $67,000, a

| sharp drop from the April level of

$325,000. These did not follow the trend of the 37 Eastern states, where a 45 per cent rise was estab- |

lished in May. |

Residential contracts awarded in

| May moved to the $480,000 level in |

|a T3 per cent rise from the April contracts, $278,000. The Indianapolis gmetropolitan area included in the Dodge summary is made up of Marion County.

THE INDIANAPOLIS TIMES

WHEA

PAGE 13

IN CHICAGO PIT: * GORN IS STEADY

ne Weather, Markets Aid Buying; Outside Markets Firm.

CHICAGO, June 27 (U. P.).—Unsettled weather in parts of the Southwest wheat belt and the rise in the stock market encouraged buying in wheat on the Chicago Board of Trade today. At the end of the first hour of trading wheat was up !i to 3. Corn

! was unchanged to up 's, and oats

were ls higher to 's lower. Following fractional gains some selling pressure brought about a

| mild reaction, but the undertone | remained steady. Outside markets were steady to! firm, except for Winnipeg which | was irregular. Liverpool closed with | | gains for the day ranging around 2

cents. Export business in wheat was reported to be flat over the week-end. Receipts of wheat in Chicago today were estimated at 43 cars.

Corn prices firmed slightly on the | rise in wheat, but trading was light |

as outside interest was small. It

corn had been worked for export

over the week-end. Receipts of corn |

in Chicago today were placed at 424 cars.

WAGON WHEAT City arain elevators are paying for No. 2 red. 67c: other grades on their merits, Cash corn, new No. 2 yellow, 49¢c. Oats, 23c.

LIVERPOOL WHEAT (U. 8. Equiv rlents based on Sterling at 4.947%, Prev. - High Low Close Close

JUIV se..e00.$ 9732 8 9634 8 9732 $ 95%

Oct. .iivens + .887x 88'3 887% 87 Dec. «.... ae 87% 87 87% 857:

Curb Stocks

Curb stocks fluctuated irregularly in early active dealings today.

In the industrial group, Fisk Rub- | ber, Lockheed Air, Babcock & Wil- |

cox and Technicolor sold off frac-

tionally, while moderate gains were |

noted for Aluminum Co. of America, American Airlines, Ford Motor of Canada “A” and Niles Bement Pond. Gulf featured oils with a gain of around a point, but other leaders held narrowly around previous clos-

ing levels. Mining and utility shares |

were featureless.

High Low Last Aero Sup B ...veviiiee 3 3%a 33s Alum Co Am .....us «os 86 85 86 Am Airlines ........cs: 147% 14%, 143% Am Cran B ....ec00000 223% 21 22 Am Li & Tr ...eoineie d 13 13 Am Lt & Tr pf ...ceuv. 163% 16 16%% Ant RED CP ....cievivse Tt Te Bm Super «....cove0i. 13-16 13-18 13-16 Atk N Gas ......cvive 3% 3% 3% Ark N Gas A . 3% 37a 37% Ark N Gas cu M 6's 6 LY Asso G & BKB ........:. 1 A $ Atlas Corp wi 8 tisevuss | 1 1 Bab & Wile bisesthes 26'% 25 26'% Bath Ir WKS ...c0000.0 6'2 6'% 6'2 Bellanca Air .......s0 33% 334 3% Brewster Aero ........ 6's 6'a 6's Bridgept Mach ........ 6, 67a 6; Can Marconi ........ ia 1 1 Carrier Corp .......... 267s 253% 26's Cent G & B ......:. 13% 1353 133s Cent & Sw U ......... 2 134 2 Cent. St Elec .......... Va 12 Va CSt7l 6 pf xw ........ 61, 6 6'2 Cherry-Burrell ....... 13! 13'5 1315 Childs of cessssaes 383% 37% 38% Cities Serv s..enns 0% 93% 9%, Cities Serv pf Abin 45%, 45% 457%, Claude Neon Lts ...... 1% 1% 13% Col G & BE cv pt ...... 49 49 49 Con Cop Mns ciihbene 47, 47, 43% Con M & 8 .....c.00.. 564 5614 564 Coprerwld Stl ......... 2115 21, 21, Creole Pet irassaneacs 211; 2133 21! Crown Drug .......... 1'2 13% } Ea Gas & Fuel ........ 23% 23% 234 Ea G & Fuel pr pt. .h 391; 39'> 391, El Bd & Sh . 9 8'z 9 El Bd & Sh 8 pt ssases 33 53! 53!2 Ford. Can A ... ...coies 183s 185s 183s Fruehauf Trail ....... 738 5a Ta G Elt drets ....ov00en 1874 1874 187a | Glen Alden ............ 5% 53a 533 tGulf Oil ......o000000s 42, 41> 42), Hecla Min .....co000ii 834 812 874 Humble Oil ....iciuite LE Rly B61: Imp OO. Can .......... 17 17 17 Int Petrol ......coa000s 251% 25% 2515, Lehich C & N ......... 4 37a 378 Lockhed Air .. ......... 13 12's 13 McWms Dredge ....... 15% 154 15% Molybdenum ..........s 51% 51% 5% Nat Sug Ref ......... 16 16 16 Niaz H PWr .....cauvus 8'2 73% |! Niag BP 1pf coaaiuns 79 79 59 No Am L&P ..... ahs 11% 13% 3 Ohio Ol pf .....004 103 103 103 Pan Am Air ....cive0 . 145% 14%% 1433 Penperell 67% £8! Pitts Pl GI 88'2 83 Sherwin-W 907%, 9073, Singer Mig 250 250 Sunrav Oil 3 3 Taggart Cp .... 5 5 Technicolor 23 23 Un Gas Corp 1 414 Un Lt & Pwr 27, 3 Un Lt & Pwr 27% 3 Un Shoe : 6974 697s Xalspar pf .... 26 27 Wright Harg 4% '%

Chicago Stocks

| Hich Low Last Armour & Co. ......... 53a 5'% 53a they Tr. Wh ........ 315 3% 31; Bastian-Bless ......... 11'2 11% 111% Borg-Warner .......s.. 271 27 27! Butler Bros ......cisies 73 73% 73 Cent & SW Ut ........ 172 17% 17 Chgo Corp .. .....ev0s. 2%. 2's 23 Chgo Fle Shaft ...... fn 0 Ll Ohgo N W RY ....us:0 1 1 1 Comwlth Edison ...... 26! 261% 261% Davton Rubber ithe 91, nt, at, Gen Financ caiabas 234 235 234 Gen Hshid Ut ........ 11a 1'% 1'a Gt Lakes Dredge ..... 17% 174 17% Hein-W Mot P ........ 5'; 5! 515 Ind Stl Prod ......... 4 4 4 Katz Drug ....c.e000e: 415 41 41% Lion Oil Ref teitbiea 23 223, 23 Marshall Field ........ 10% 9% 10! Mickel Food .......es 3 3 3 Mid West Corp ....... 63% 63a 6% Noblitt-Sparks ...ceeee 18% 187, 183, Pines Wiront ......... Ta Ya ty | Storkline Furn ........ 62 6 8’ I Swift & C0 .....on004s 12 112 IM { Zenith Radio ......... 15'2 15 15;

LOCAL ISSUES

(By Indianapolis Bond & Share Corp.) The following quotations do not represent actual bids or offerings, but merely indicate the approximate market level

based on buying and selling inquiries or |

recent transactions. B

ONDS Bid Asked American Loan Co 5'2s8 46-51 95 100 Citz Ind Tel (TH) 4'zs 61 102 105 H Tel & Tel Ft W 5'2s 33....103 106 H lel & Tel Ft W W 6s 43 104 100

ina Asso Tel 4'2s 65 Lo 104 106 Int Tel Co 5s 60 . iii 95 100 Ina Railway inc 5s BF ciipiis 13 46 Interstate Tel & Tel 5'zs 63.. 86 BY Indpls Water Co 3's 66. . ..103% 105';

Kokomo Water Works 5s 38...102% 1ud's |

Kuhner Pack Co 4s 40 .. 08 Morris 5 & 10c Stores os 50. . Y8ta 101 Muncie Water Works 5s 65...102%

Noblesville HL&P 5'2s nn «+0 100% 103% | Ohio Tel Service 6s 47. . 98 100 Pub Tel 4'2s 65 iiesess 99 98 Richmond WW 88 87 .5...<:-. 103% 10> Seymour Water Co 5s 49..... 100 103 | IT H Water Works 6s 56...... 100 102% { T H Water Works 6s 49 ..... 101 |

Trac Term CO 58 57 ......... 8l 54 STOCKS

xBelt RR St Yds ptd ...... os 50% ..... Cent Ind Pwr & Li 7% pid ii 39 26

xHome T&T Fu. W 7% pid ... 60 53 Hook Drug Inc com ....... ses 11 13 xIlnda Mich ofd 7% ..... lg xInd Gen Serv Co 67, pfd 101 104 Ind Hydro Elec 7% pid ...... bl Indpls Gas com ‘ eee: 10 Spat xIndpls Pwr & Lt 6% ........ 88 91 xIndpls Pwr & Lt 627% ...... 93 98 | xInd Water Co 5% pid ....... 3. iu:c. Line Nat Life Ins 1% 24 N Ind Pub Serv Co pfd 52 58 61 N Ind Pub Serv pfa 6% ...... 66 69 N Ind Pub Sery 7% ....... os 132 i6'2 Prog Laundry Co com ...... 12 i4 Pub Serv of Ind 6% ........ . 18 21 | Pub Serv of Ind 77» « 342 3712 S Ind Gas & Elec 4.87% old. « 832 862 Terre Haute Elec Co 67 « 32 061; Union Title Co com ,......... 24 27 Van Camp Muk Copt ... ... 9% €0 Van Camp Milk Ce com ees 10 11%

xEx-Dividend Crist & Co.)

(By M. P Market St. Investment Corp.. 22.73 24.43

NEON SIGNS

And

SERVICE

Indianapolis Electric Sign Co. 228 N. Ala. L1-5674

a" w « 3 o - » 8 2

TBOOSTED 700! Orders Dip

NEW MACHINE TOOL ORDERS

(MACHINE TOOL BUILDERS' ASS'N) TED LINE IS THE PAST

iH TEAR AVERAGE OF THE SAME MONTHS

PARKER CORR GENERAL INCORPORATED INVESTORS

BOSTON, June 27.—Orders for new machine tools in May dropped to the lowest point since April, 5, while orders in the first five months of this year fell 57 per cent under the same 1937 months. *, there was a big rush of new machine tool orders early in 1937 to bring equipment up to Reports coming month indicate a considerable im= provement in the volume of new

eee

out altogether sity of buying to replace inventories is more compelling than it has been for a long time, “The outlok for nondurable There is a growing hope | considerable | goods revival will occur in the next Inventories in many of these lines are scraping bottom, and repurchasing is bound to begin Contributing to a consumers’ goods revival will be the Govern- | relief outlays and especially direct purchase of fin-| Now that Congress | has passed the big spending bill, the election campaign expenditures | in these directions is to a

PREDICTS GAIN IN FALL TRADE

was reported that a few loads of Business Journal ‘Depressing Factors Still Work.’

NEW YORK, June 27.—A sud- | den improvement in sentiment was | reflected in a rise in securities and | commodity prices and an inciease in business purchasing last week, | the magazine Business Week said Renewed confidence | autumn revival and a relief from the predicted midsummer letdown also was expressed. “It is too soon to say, | that the tide has turned. There are | too many depressing factors still at | work to be sure that the low i either business or prices is hehind goods activity does pick up sooner than expected, it will be in part offset by conting ued dullness in the capi.al goods It would not be prudent to expect a significant pickup in the | general indices of activity this side | the magazine said.

If consumers’

of Labor Day,” Cotton Leads Buying Gain

the developments of the week has been | buying movement The cotton

“The prospects for goods than those for products. hardly than a continued depression for some months to come. it is true that the situation is looking better than had been expected two or three weeks

C.l. 0. AWAITS NOTE | ON U. S. STEEL WAGE

WASHINGTON, June 27 S. Steel served formal notice upon the ComIndustrial desires to reduction of steel s, it was learned reliably today. notice of such is required under the existing con-

understood that the steel | is willing to try its new | reduced price policy temporarily to see whether it wil lincrease business and rpoffts without necessitating a

I. O. leaders and U. 8. Steel officials discussed the price reduction and its possible effect on wages | informally last week. However, no formal steps were bringing about a pay cut. C. I. O. leaders, headed by Chair- | man John L. Lewis, have announced they will resist any pay cuts. last Friday urged capital and labor to unite against wage reductions.

textile markets have always been peculiarly sencitive to the first breath of changed sentiment, and as a result this inhas been among the earli- { the recovery | each of the depressions since the 1t repeat 1938. “The present not appear flash in the pan—not cnly have the sales of cloth been extremely heavy | are not expected to die again.

xBelt RR St Yds com ........ 40 B1%a | a

CORN AND WHEAT REGION OFFICIAL WEATHER

wunsuBY U. 8S. Weather BUreat maa —7 A. M., June 7 1938 High Low tation w « B 49 46

Travel Punds

SUBSTANTIAL SAVING ON GERMAN AND ITALIAN TOURIST CHECKS

AMERICAN NATIONAL BANK

Southeast Corner PENNSYLVANIA & MARKET STREETS Member Federal Depdsit Insurance Corporation

ON THE RADIO

TONIGHT

6:00—Monday Show, WFBM, 6:30=—Margaret Speaks, WIRE, 7:00—Radio Theater, WFBM, 8:30—Eddie Cantor, WFBM. 8:30—Burns and Allen, WIRE, 10:30—Cugat’'s Orchestra, WGN.

After a season’s absence, Helen | Hayes is to return to the air as the |

“Radio Theater” guest at 7 p. m. today, CBS-WFBM. And Indianapolis Hayes fans being of the rabid variety that they are, no more really

| needs to be said.

Miss Hayes’ vehicle will be Char-

| lotte Bronte's “Jane Eyre.” _ Pre- |

sumably it is the same Helen Jerome dramatization which brought | Katharine Hepburn to English's a | year ago last March. For a costar,

Miss Hayes will have Robert Mont- |

gomery, who should find, in the role | of Mr. Rochester, another chance to do something similar to his “Night Must Fall.” It so happens that, unlike most leading stage stars, Miss Hayes really likes the radio. You won't find the Lunts, Fontaines or Cornells of Broadway aristocracy within a mile of a microphone. But tonight's star thought enough of her

The tour that brought Miss Hayes and “Victoria” to Indianapolis made broadcasting impossi-

ment finally has closed at Los Ana 8 8

geles, and it's not unlikely that the diminutive star will be a regular studio attraction next season. ” n n

While on the subject of the drama, you might like to know that “Radio Theater” is to be replaced in two weeks by a nine-weeks series featuring Orson Welles and the Mercury Theater company. Young Mr. Welles is to have the arduous job of star actor, author, director and producer. CBS is giv= ing him free rein, the series being a sustaining feature. And Mr. Welles promises some experimental drama which is to be entirely sep=arate from the Mercury's regular repertory. y nu Eddie Cantor’s show is to go oft the air for the summer months following tonight's broadcast. The comedian is to leave for Europe on a business-pleasure trip July 6. Mrs, Cantor and his daughter and son-in-law, Mr. and Mrs. Joseph Metzger, are to accompany him. Returning aboard the Normandie, Eddie is booked to be back at New York July 27, at Hollywood Aug. 5, and back on the air Oct. 3. ” ” ” The Bishop of Lund, one of the

{ visiting Swedish dignitaries helping | celerate the tercentenary of Dela- | “Bambi” air series to combine it | with the New York run of “Victoria | Regina.”

ware's settlement by Swedish and

| Finnish colonies, may be heard on | CBS-WFBM at 1:30 p. m. tomorrow.

Th broadcast, from the Old Swedes’ Church, Philadelphia, will include a

| short sermon, music, and the arrival ble. But the lengthy road engage- |

of Crown Prince Gustav Adolf and

"his party.

THIS EVENING

(The Indianapolis Times Is not responsible for (inaccuracies In program ane nouncements caused bv station changes after press time.)

INDIANAPOLIS INDIANAPOLIS CINCINNAT] CHICAGO WFBM 1230 WIRE 1400 WLW 700 WGN 720 (CBS Net.) (NBC-MBS) (NBC-MBS) (MBS Net) 4:00 Jack Shannon Middieman's Or. Middleman’s Or. Bill Anson 4:15 Bohemians New Happy Gillman Serenade 4:30 Tea Tunes Rakov's or, Sport New Sophisticated 4:45 " Unannounced Lowell Thomas Orphan Annie 5:00 WPA Speaker Ren. Pettengill Don Winslow Popeyes 5:15 Boake Carter Uncle Ezra Sports Clark's Or, 5:30 Popeye Let's Celebrate Bob Elson 5:45 News Bailey Axton P. Sullivan Serenade 3:00 Monday ,Show Looking In Burns-Allen Contrasts 15 " ’ ' " 6:30 Conservatory Margaret Speaks Richard Crooks Long Rancer 6:45 ”» » ” ” ”» ”» » ” 7:00 Radio Theater Now-Then Fight Crosby's Or. 7:15 » a Announcing " ud " " 1:30 " h Modern Musle Mysteries Unannounced 7:45 id . " ” " " Tomorrow's Trib, 3:4 Ww, King's Or. Contented Trug-False True-False 8:30 Eddle Cantor Burns-Allen Men's Program Melody Pageant 8:45 ” " ” "» ”» ” ” ”" 9:00 Entertainment Amos-Andy Amos-Andy ve - 9:15 Lum & Abner ews Asparagus Club Arthur's Or, 9:30 Pick-Pat Baseball Sprige’s Or. Fields’ Or. 9:45 » ” ”n ”» "n ”» ” "” 10:00 News n ” Paul Sullivan Kvser's Or, 10:15 Sander’s Or, ” " Henderson's Or. " n | 10:30 Pryor's Or. Morgan's Or, Thompson's Or. Cugat's Or, 10:45 " gd v nannounced ” o ~ - 11:00 Nactutne Bailey’ s Or. Review e " 11:15 That Fon Rainbow Trio Tucker's Or, " 11:30 Williams’ "or. Livingston's Or, Martin's Or. Crosby's, Or. 11:45 " " ’ ” TUESDAY PROGRAMS INDIANAPOL] 18 INDIANAPOLIS CINCINN AT CHICAGO WFBM 1230 WIRE 1400 WLW 9 WGN (CBS Net.) (NBC-MBS) (NBC- MBS) (MBS Net.) 6:30 Early Birds Devotions Organ Musio Box 6:45 1" i” News Revelers ’ . “1:00 » " Musical Clock Merrymakers Good Morning 7:15 3 " ' " Peter Grant Jean Abbey 7:30 i" » Dessa Byrd Gospel Singer V. Lindlahr 7:45 » News Experience “ " 8:00 Kitty Kelly Mrs. Wires Rvmm Crane-Joyee R:15 Myrt-Marge Other Wife Myrt-Marge 8:30 Melodies Plain Bill Hilltop House Melody Parade 8:45 Stenmother Woman in White Betty-Bo b Dr. Friendly “9:00 Milky Way David Harum Goldberes Get Thin 9:15 Apron Strings Torenzo Jones Vic-Sade Children 9:30 Big Sister Gene Plerson Dr. Friendly Painted Dreams 9:45 Real 1 Life Linda's Love Road of Life Harold Turner 10:00 Mary MeBride Dessa Byrd Editor's | Dauchter Contrasts 10:15 Merrymakers " ’ O'Neills 10:30 Mrs, Farrel) Footnotes News-Weather Onin Rvan 10:45 yy ” Piano Recital Farm-Home Mail Box 11:00 Musio Hall Singing Sam bk id State St. Man 11:15 " " Three Romeos " " Musio 11:30 Farm Circle Farm-Home five Stocks Services | 11:45 Farm Burean o ” Reveries “ - 12:00 Beliemiang Betiv-Bob Linda's Love H. Turner 12:15 Grimm's Girl Grimm's Girl Pinky Hunter 12:30 Marine Band Valiant Lady Valiant Lady June Baker 12:45 ny Hymns Kitty Keene Len Salvo “1:00 Tin Pan Alley WIRE Reporter Mary Marlin Songland 1:15 4 ” Headlines Ma Perkins Memory Lane 1:30 Swedes’ Church Varieties Pepper Young Musical Moods 1:45 " . " " Guiding Light Leadoff Man 2:00 Health Backstage Wife Harding's Wife Baseball | 2:15 Rhythms Stella Dallas Midstream » 5 2:30 Harmonettes Hucghsree) Ne . x 2:45 Questions Unannounced Hatterfields | 300 Jack Shannon Police Court Houseboat " a 3:15 NEA Program Top Hatters Marv Southern » » 3:30 Let's Pretend Royal Rangers Singing Lady " pd 3:45 y id Indig Singing School "4:00 Deep River Sahin's Or. Sabin's Or, Rill Anson 4:15 regan News ‘oh Happy Giltians Airliners :30 Johnnie Johnson au ouglas ois Tes, Tom Livingston's Or, Lowell Thomas Orphan Annie

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; WIR, 750; WHAS, 820; KMOX, 1090; WBBM, 776. | MUTUAL—WOR, 710; WHK, 1390; WHKC, 640; CKLW, 1030; WSM, 650.

CROSSWORD PUZZLE

HORIZONTAL Answer to Previous Puzzle 23 Newspaper 1 Poet who [NTSTHTAMIMIE[DLJMO[SIL]EM] Paragraph. wrote “Leaves [Alr[0|wlO[P[E RANE RY] 25 In line. of Grass. 11 Native metal. BAIRERT LIL E 28 Curse. 12 Far ornament. : : R = z 8 L 29 He rates as 13 Eccentric one of wheel. CRIGIAINERL A America’s 15 Holy man. PIRIOCIGENAL |L bards. 16 Grew dim. (HES [RES |L 31 Elder 18 Pedal digit. E|ICIHIOIE|D statesmen of 20 Woolen fabric. {Tj SIR Japan. 22 To tear rac MOKA 33 Spirally coiled stitches. A|C(R]! |D orgasm. 24 Each. MIEICICIA 34 Darned.

26 Baking dish, 27 Plaything. 28 King of

49 Pigeon pea, 61 Sea eagle.

Bashan, 53 T'o accomplish,

30 Unit of work. 55 Chaos. 32 Moccasin. 34 Encountered. 57 Payment 35 Nominal value demands. 36 One who does. 59 Plural 38 Clan symbol. pronoun, 40 To detest. 61 He was a 41 Proprietor. NAIVE ce, 43 To peruse. 62 He wrote of

56 Male ancestor.

35 Stepped, 2 Alms box. 37 Portuguese, 3 Guides. coin.

4 You and 1. 39 Also. 5 Possesses, 40 In what way, 6 Wrathy. 42 Semidiameters 7 Three 44 Heavenly food collectively. 48 Dense tooth

8 Gold digger. tissue, 9 Social insect. 50 Part of circle, 10 No good. 52 To hasten, 14 To encounter. 54 Plural 16 He was a pronoun.

44 Kind of coffee. ies of lover of ——., 55 North 45 Inlet. fhe Seaties 9 17 To leak. America, 46 Mortar tray. . 19 Stain. 86 Senior. 47 Reverence. VERTICAL 2, Dipterpus 58 Street, 48 To depart. 1 Grief. fly. 60 Southeast, | 4 s fo 7 BY 10 1 12 | 14 19 16 17 19 20 2) £2 1S 7 6 27 od [29 30 Sl 32 33 34 5 S56 57 56 59 0 4) 2 43 44 45 6