Indianapolis Times, Indianapolis, Marion County, 28 June 1938 — Page 17

/ESDAY,

LAU

From 521/,; Trading Is Lighter.

NEW YORK, June 28 (U. P). Stocks rallied today after an irregu- | lar decline on earlier profit-taking. | Volume lightened.

U. 8S. Steel touched 521% and came |

back to 54. Chrysler was more than a point net higher. Utilities came back to the previous close. Rails rallied from early losses to small net gains, New highs were made by Co. at 32, up 2; Dow Chemical, 120°s, up 23; Johns Manville, 89, up 5, and Monsanto Chemical, 92, up 13. Sperry equaled its high at 223%, up 's. Collins & Aikman preferred equaled its low at 88, off 21; points. A fair amount of business was noted in the oils, which made small advances. Nonferrous metals registered minor gains, Farm issues were easier. At the same time stocks on the Curb Exchange eased irregularly in quiet trading. Mining shares led the downturn. New Jersey Zinc lost 212 points to 5612, Newmont Mining 1 point to 65 and Lake Shore Mining % to 49%, Creole Petroleum, up % at 22%, and Humble Oil, up 4 at 67%, firmed in an otherwise easy group. Utilities were mixed. Electric Bond & Share lost 1; to 814, American Gas & Electric was 4 point lower at 2914 American Super Power gained 2 16 point at 7, and | Niagara Hudson Power, United Gas | and United Light & Power “A”| were unchanged. Domestic corporation bonds recovered from opening easiness and | steadied on mixed gains and losses | in trading. Utilities were in fair demand, re-

cording advances ranging to a full |

point. International Telephone &: Telegraph, Postal Telegraph and International Hydro-Electric issues led the upturn. Rails were mixed. Canadian Southern, Central Pacific, Great Northern, Delaware & Hudson and Northern Pacific liens showed early losses extending to more than a| point,

bonds improved moderately. Industrials were quiet and rowly irregular. Early dealings in U, 8. Government bonds were extremely quiet.

nar-

Guaranteed issues were off as much ! bonds |

as 4-32 point, but Treasury registered gains extending to 5-32 point. Japanese obligations edged off fractions to more than a point while European issues firmed. LatinAmerican bonds were mixed.

N. Y. Bonds

BOND PRICE INDEXES 20 20 Rails 519 50.6 32.2 50.2 92.5 70.0 #9 101.2 69.3 100.4 106.2 84.7 103.5 Standard Statist

Yesterday Week ago Month age .. Year ago ...... ' Two years age 193% 1938 1937 1937 1936 1938 (Copyright,

95.1 938 93.3 99.3 105.6 95.5 8.3 106.9 92.3

93.3

$2.3 el 100.7

93.3

1938 ics Co.)

U. 8. GOVERNMENT BONDS Treasury Bonds

O00 ARI LY nN Paar » names

w 4 14) 106.10 2 118.18 8 104.18 6 101.22 22 10 102 2%4s 1963-58 1 101 2 Federal Farm Mortgage Ronds 374s 1364-44 . ..106 28 108 2% S 1949-44 «00 105.31 108.31 Home Owners Loan Bonds 23.5 1949-39 2 102 2% 1952-44 105.30 105.30 DOMESTIC BONDS

High 22!

Lo 0.1 6.10 8.1 4.1 1.2 8

eg Corp Ss

50st is Chal 4s 52 ...

Cons Edis 3’: Duquesne 3':s 65 Goodrich 6s 45 Int T& T 5s 53 Loews Inc 35s 48 9¢ Y Cent ref Ss, 2013 «« 96) 2013

Otis Steel 41,8 62 Para Fict Penn RR 5s 6 Rem Rd 44s 5 Rich Oil cv 4s 5: Vanadium 5s 41 ....... 91 Warner Bro 6s 39 ..

FOREIGN

Argent 4'%s 71 Australia 3s 55 Belgium 6'>s 49 Brazil 8s 41 .. Brazil 8las 27-57 Denmark 4':s German 7s 49 Italy ¥s S51 .. Japan 6las § Japan Sigs

IN yEsTING CO.’s

Bid Asked A % Invest Bank © pres, 4.14 Bnem Bl 425 21.62 1stBos Cp 19.62 1 8 355 Inv Fd C 85 2.15 KevCFB1 0 KeyCFB2 1 KeyCFRB3 7 KeVCFK1

fr = om rN

9 250 20.51 13.80 13.38 3 89 89 45

5.24

Bb 1S © “HE Yi IS -

«5% i in

9 12 1 1 Con Shs pf §.50 Cp Tr Shrs 2.31 ... CpTrAA CpTIraAce CpTrAAm C EDIrartm

Tr DrBENYA DplInsA Be Ins B Div D

10.80

Cd Yl pt ot HCI CD le CY BD = EN fk Of pt) DAD UDO en ln LS DNA DOr ND DO INH

Fiscal Fund Ine: Bk Stk Ins Stk Fixed TrA FixedTr B For Bnd FoundTrA NR Invine 1:

Fd on Gen Cap Gn InvTr Group Securi

SADDENS NN ID WIDIaDHD

COU hk a ON OF RIOD De

UO RMON LIN ~~ I Danone Nn wm

Rep Tr REP InvCm Sel Amine 8 Sel Ime Spen Tsk 1 Std! Tr

* on Bans Ol el

COIN DIININITIT RHEIN IT TTS NC No 9 ©

YD rt aD CD DEA DID NOD AID MII BIND es

Agri Auto Aviation Building

the 1D 0D DVD rs 7 bv Cad lt

s—— “Jl «FED ILI RI OY

Fett dodridnde ion AAA

1022

rr FOI <109 CAD ct 2 BD ADBINI DEIN NICS

Inst] Seeurities Xx Grp 104 1.26

Rios Low -~l

ns Grp

aime A tt de

lcL&P fd 1

FOOD PRICES

CHICAGO. June 28 (DU. P).—Apples— Ninois Willow Twigs, $1.40, Sweet Potatoes— Tennessee, bu. hampers, 88§@080¢c. Carfots__plinel} bunches, 1@2c. Spinach—Ilre bu., Tomatoes—Texas, jugs, 1 837s can tlower—Washington, erates, i 80@1 Peas—Washington, hampers, 2

| Well

218, Sher — California, crates, $2@

JUNE 28, 1038

STOCKS RALLY AFTER EARLY DIPS; D BANK POLICY

@®

U. S. Steel Climbs to 54 Officials Say Examination

— | Dimes Special

Crane

while Chicago-Milwaukee-St. | Paul & Pacific, New York Cengral, | Southern Pacific and Pennsylvania |

| established commercial or industrial

Util. Bonds |

1.8

96.3 |

81.1 | 100.2 |

DN BI ID DO MARI RD

- 388

3 OR | Bradstrests aie weighted Pas index 3 ot modities, compi for Unite

Plan Will Aid Small Businessmen.

WASHINGTON, June 28.—Small | businessmen, particularly, should

| benefit from the new bank-exami- | nation regulations issued jointly by the Treasury, Federal Reserve Board, Federal Deposit Insurance Corp. and Controller of Currency, officials said today. The revised regulations remove some of the restrictions which have made many bankers hesitant to lend. A reclassification of assets gives the banker more leeway. The depositor, officials say, is being amply safeguarded by the new regulations, The new bank-examination policy puts the stress on soundness of assets rather than on immediate liquidity, the previous standard. Banks must be safe. That is the first consideration for the depositor. But, beyond that, officials pointed out, the bank has a role in the economic machine, right now the role of promoting recovery by financing business.

Banks Over Cautious

Some bankers have been overly cautious because of the ever-present fear of the bank examiner and his | rigid requirements, it is explained. Sound businesses, especially small ones, have sometimes been unable | to get loans. The relaxation of restrictions is designed to open up | channels of credit for this type of business, As affecting the banker and the { small businessman, the new regulations seek to ease credit arrangements by tackling the so-called “slow loan” problem, and by making easier the purchase by banks of securities issued by small concerns, | Under old regulations, securities { were purchaseable by banks only if they were “marketable obligations” which was defined to mean “sales at intrinsic values readily available”; if the issue was sufficiently large to be marketable; and if it was registered with the SEC (unless specifically exempt) and distributed to the public.

Size Requirement Lifted

Under the revised regulations for purchase of securities by banks, the definition of “marketable obligations” becomes “salable with reasonable promptness at fair value” which will admit more securities to bank purchase. The new regulations | also lift all requirements as to “he | size of an issue, as to SEC registration, and public distribution “in the case of certain securities issued by

businesses or enterprises that can demonstrate the ability to service such securities.” “These,” according to the new rules, “must mature within 10 years and be of such sound value or so secured as reasonably to assure pay- | ment, and must provide for amortization to extinguish at least 75 per cent of the principal by the maturity date.” Bans Old Rating Method

The new regulations do away with | the old classification of loans other than “sound” loans as “slow,” “doubtful” and “loss,” and substitut four types by number for designation in portfolios by the bank { examiner, Government banking officials ar- | gue the presence of the “slow loan” | column acts as a deterrent to bankPipe who wish to make long-term loans but hesitate because such | loans would be automatically classified as slow, and that such loans should not be so classified simply because of their late maturities Regulations as to bonds also are | relaxed. Bonds of the first four | grades, including governments, municipals and high-grade industrials, will be carried hereafter at thei | cost, instead of their current marke{ price, and depreciation will not be computed in making up the sound capital assets of banks. Bonds of lower grades will be carried at their average price over the |; previous 18 months, | the difference between their market | price and their book value deducted from the bank's net sound capital. This will give banks greater lee- | | way in making loans by increasing the net sound capital over the fig- |

the old FOCMINUONS, | aa

Chicago Stocks

Low

{| Armour & Co Aviat & Tran Bendix Aviat Butler Bros .

i .- Rl BE ames

“ ‘“ - - ~~ ty 00 he

GMT I 1D IS HD eT

pr £3 to - . DAD «1 03 LD pi DD OVD BY wf +t BD soe Ph wc) Ld bt

— - " —

Jt w > [

CORN AND WHEAT REGION OFFICIAL WEATHER

By U. 8S. Weather Burean

~June 28, 1538

Precipi- State of | tation weather |

! Low South Bend .... Angola ‘ed 70 Fhoat eld Cambridge “City. Columbus Vincennes Paoll . | Ft. Wane Indianapolis | Terre Haute | Evansville

-|DAILY PRICE INDEX

June 28 (U. P.).—Dun

202503200 0300090

Clear

30 basic eo Press (1930esterday

equals | ...106.37 | Month age .. . eek ago ... 105.53 [Year age JA8, 1938 high (Jan. 10) 117.06 193% low (June 2) 102.43

..102.4

ADAMS VOTES DIVIDEND

A quarterly dividend of 15 cents {a share on common capital stock today had been voted by the J. D. Adams Manufacturing Co. board of directors. Payment is to be made Aug. 1, to stockholders of record at

i} |

| Am

{| Am Rep cp

with half of A

the close of business July 18. Q

N. Y. STOCKS

‘dv United Press™

High Adams Exp .... 10's 10% Alaska Jun ... 10'a2 10: Allegh Corp .. 1's 1's Allg Cp pf $30 w _8'3 8'2 Allled Chem ..165 85 Allied Stores... A 8

Net Low Change

SHEE

gy NEN,

[KY >»

NITY » wa Go Gy yt nae wee

—- .-

al BI ts Laba bee OW DOO FUND LIU LJ dm de TV OO ih da LET

Aviation Corp..

alt & Ohio... arker Bros Barnsdall Hem

*. esUs [= - * ann

w -

Blaw-Knox .. 3oeing Air .... Borden . Bdgept Brass ..

Ea ewe 10300 O00 =) ue oe SO NWO ~T 100 OH

POND RRS RI ee DBD ASN D Ne BODO -TNOON . ” - - BOBS het DD hs bt BD LIV DEV ANDRA RIBRLINOD POND FRO et RD I

++ ++

Bucyrus Erie a Budd Wheel ... AM...

lA re DO. pe FL EL

Byers

53)

oo RWOIIW UN Tre DD

Cal Packing ... Callahan Zine Calumet & Celanese ...... Cent Foundry

lS ag sF EINES

) r Cleve Graph Br. Cluett Peab .. Coca Cola Colgate P P Colum Gas .... Col Carbon .... 79 Com Credit .... Com Solvents .. Comwith & So . Comwl & S pf. Cons Oil Container .... Cont Bak A ... Cont Bax B ... Cont Can . Cont Ins Cont Mot Cont Oil Del .. Coty

30 Cream Wheat .. Crown Cork ... Crown Zeller .. Crucible St .... 30 Cuba CO ....ve curtis Pub “el Curt Pub pf ... Curtiss Wr .... Curt Wr A ....

Deere & Co .... Del & Hud .... ac & W Doenjer D Cast. Dome Mines .. Douglas Air Du

East Kodak

Ex- eli -0

27% 264 3 291% 167%

272 264

33 29% 17

Fair Morse .... Pajardo nd ‘ht

Rg x "strs .“ Flintkote ...... wlliin Am Inv ... 1 Am Tr .... 44 Gen Electric 395% Gen Motors ... 35% Gen Motors ol: 13 Sen Pr Ink . 8% en TER .... 13 Give! Bros “ed

Gen Gen

Q . 20% 3s

8s T & PC {Tex Pac LL T ..

see 22 Greyhnd Cp ... Gu M & No nf

Hecker Prod .

Hershey Houd-Her B ... Houston Oil ... Hud Bay M&S...

| Hudson Motor..

Hupp Motor ..

Il Central Inland Sti Inspiratn Cop .. Interlake Ir .. Int Harvester... 65 Int Hyd El A .. Int Nickel

In Int T&T For... Intst DS . Island Cr Coal.

Johns Man ....

Kendall pf Kresge SS .. Kress 2 Kroger G&B ...

Leh V Coal .... Lehman Loews Loft, Lone Star © om. Lorillara

Macy RH Marine Mid ..

Martin Gi

| Maviag . | McGraw Hill

| Mont

| Pi B. Plymouth oil

i United Cp pf...

U | Un Stk

| Walgreen s | Walworth ..... | Warren F & P..

DOW-JONES STOCK AVERAGES 30 INDUSTRIALS Yesterday ... 130.48 Week AZO ..../ieessessnssss 121.34 Month AZO ...iovvennssensss 107.74 Year Ago . . 187.11 High, 1938, 134.35; tow, 98.95. High, 1937, 194.40; low, 113.64. 20 RAILROADS

thrsasssaseraes —1.46 -—1.16 + 0.40

25.00 21.51 20.31 50.55

Yesterday Week Ago Month Ago Year Ago High, 1938, 32.33; Jow, 15.00. High, 1937, 64.46; low, 28.91. 15 UTILITIES

fess sarnnraraan

20.685 19.60 17.88

Yesterday Week Ago .. Month AZo .....oovvvnnssnen Year Ago High, 1938, 21.86; High, 1937, 37.54;

testes taanenraen

low, 15.14. low, 19.65.

Net High Change MCKeesport aes seas

Low

ow “ ~~.

Minn Digits Monsanto Ward ... Motor Whi ....

wy » Seal ow om -—s =

- .. a BANWNN EWES A elle SANE ST NB NB NAAR

PS et pet BIND BD DD rt in fw] et OD ee DOO

Dod Led 1 DD re i wd 3 00 OF “

Ohio Oil

Otis Elev Otis Steel

¢ : Parker Rst Pri 13 Pathe Film ... . 1014 743

Patino Mines

wo -a

Tq BRE DUNNDD Bd La

[CT

Pullman

Ore LIL SOD oe

Reo Mot _.. . Republic Stl ... Revere Cop ... Richfield Oil . Roan-Antel

~INW ILI EID CIDR IRI BSD

Po I fut Bd et ps

n pf Schenley Dist . Schenlev Dist pt. Air L ..

AD «TID R - w

ASI BIRT OB ye Cove

Bo RY ith Sperry-Corp

Sunshine Min .. Superhtr 2 Swift & C

$ | Texas Corp | Texas Gut Prod

Tex G Sul ..... & OO .. Tide W A oh.. l

| Timken R B....

Jransamerica . Trs & West Air Tri-Cont of 20th Cent- Fox. Twin Coach ...

Un Oil Cal... Onion B & P Un Aircraft co Un Air Lines. United Corp ...

sna ea

United Drug .. United Fruit .. Un Gas Imp .. J 8 For Sec pf 75 8S Freight... 8'%

1) OY N00 MDS ITO 00 00 =O

eel Bs Steel ot. 1084

Un Stores pt i: . 42 UtP&LA.... 3%

Va-Caro Ch . Wabash of Aus

ayne Pump.. West Union

1% Willys Overland 2 Willys Overld pf 4 & Wilson & Co 4 Woodward Iron 15'% vv 48

gy a ae

Frit ELLER FI

Woolworth Worthington

Yellow Tr .... Young S & W..

! Young Sheet

Alum Co Am Alum Co pf Airlines Am Cvan B .

Am Super Gas Gas . {Gas on pt

Bab Bell A Blue Ri id

Bunker Carrier

5 rd 2

vo. rf ~ em

00s 1S OO IVC ln 1 Gy Ot ln pt 5 C0 ED aw Cw

“ -

Hill & Corp Cent St Elec saranas Cent St El 7 of eassann Cities Serv pf .... 10& G

DOr hn we BCLS

AD BOs 0

ft “APRS BHD

crane

|S & Bes Creole Pet

ro » »

nn oo

WIS wy a he i 4

CF dt Pw A BEERS A Sew ~ @

Arter

MOIS eB 00 laren ON wh & Kaw

DON NDHIDDRTRDNWL IU Ula] wl 00 Uda 00 ht 15 GO UI10O 05 im

CHICAGO PRODUCE

Butter—Market, easy: receipts, Le ross Ibs.; extra firsts, (00.31 pathic: extras (92 score), 24c: seconds, 22@22':c: is 26l2¢; standards, 25%a2c; centralized Sore 23c; centralized (88 score), 24@ 4) Eggs—Market, easy: receipts, 15, ye : fresh graded firsts, cars, 19%e; les _ 1Bc; extra firsts, cars, 19%c: less aan cars, 19'2c: checks, 16¢c; current receipts, 18!'zc: dirties, 16%c: storage acked Soria 200; storage packed extras,

Ty aarket, Steady. receipts, 4 1215 @14c; geese, ic; hen mn hens, Tac: J ing chen 1 RR 14

pbs.

[email protected]; I diane Bliss 80; Missouri ne $1. 13 1.20: Oklahoma Bliss umphs, $1.85@ Virginia Cobblers, L Arrivals, 98; on A . shipments,

10cAL PRODUCE

:_ Leghorn hens, 2 ‘bs, and over ock springers, 3 Lee; colored | springers, ra , 13e; roflers, 1% Ibs. Or ie; berepack broilers, 9s;

ol Jeo eo. 1 strictly fresh count n 180: 12050 full ca ia, mist we ol noes’ gro net uction of 1 nts for Sach tall case ge er 55 Ibs, wii made, ter—No. 1, 28!:@29¢: No. 2, 26@26ac. 1 & Co.)

Brices, wih ie Ro Wadley s

by W

Bld | American Loan Co Ng) to. . n ' Citz Ind (TH

| Interstate

{ Pub Tel

| Van Camp Miik Co of ....

LOCAL ISSUES

(By Indianapolis Bond & Share Corp.) The Jollowing quotations do not represent actual 8s or offerings, but merely indicate the approximate market level

| based on buying and selling inquiries or | recent tansasuen 1

ONDS Asked 100

9 : 8 el & Tel 5's 63.. Indpls Water Co 3'ss 686.. 3. 100s

o Ind Railway

{| Kokomo Water Works 5s 3. «100%

Kuhner Puck Co 3s 40 3 . 98%

s 5s 65.. 102% Noblesville HL&P 5108 47......100% Ohio Tel Re rvice 6s 41 ceenee 98 4158 65 . . 95 Richmond WW sents ..103! 2] Seymour Water Co 53 49..... 00 T H Water Works 8s 56......100 T H Water Works 6s 49 .....1

| Trae Term Co 8: 87

STOCKS

| xBelt RR St Yds eom ... | xBelt RR St Yds ptd

Cent Ind Pwr & Lt 7

+108 | XInd_Gen Serv co 8% prd.. 7% Dp .is a

Ind Hydro Elee fd Ind “es

as Elec ® Terre Haute Elec. co 8% ..... 8 Union Title Co com een oH wee §

Van Camp Milk Co com ...... xEx-Dividend Bo.

(By A. P, Crist & Co.) Market St, Investment Corp.. 22.73

BANK STOCKS

Net Bid Atke h Bank of America .. 48 oo change Bank of Manhattan .. 19's + Bankers Trust 4 “it Bank of NY Trust Brooklyn Trust ...... 7 Central Hanover ...... 89!% Chase ‘easnane

eaesans 392 Commercial ....o.en.e. Continental .....e00e.. 12% corn pa hange cases Ria

Empire NII First National Guara Tromp Manufacturers National City . NET Public . Title Guarantee .

| FOREIGN EXCHANGE

NEW YORK, June 28 (U. P.).—Foreign exchange steady. Following are noon cable rates on major currencies: Net

he § Rates nge England [oNrd) .. 849 il 4.00 3-18 60- 8 on) rate) boy 1 15-1 4.00 3-18 France (franc) : taly (lira)

r . ¥ TE

HE HEEL

» i -NN

¥,

.16963 4038 *

r. ra § zerl frane)

| Boi ang (sul er) .. (peseta) ..... Ss fen (krona) ...

Norway (krone) ark (krone)

“an .

THE INDIANAPOLIS TIMES

WHEAT OFF GENT IN CHIGAGO PIT: CORN, OATS DIP

Outside Market Weakness, Good Weather Ease Grain Prices.

CHICAGO, June 28 (U., P.).— Weakness in outside markets and favorable weather in the Southwest kept wheat prices easy today on the Chicago Board of Trade. At the end of the first hour of trading Wheat was off 7: to 1 cent, corn was off 3s to %:, and oats were 1s lower. Generally favorable crop weather reports from the Northwest in addition to clearer weather in the Southwest resulted in scattered selling after the start. Little buying support was evident on the decline, but some demand was uncovered after the prices were about 1 cent lower. Better export business was reported as sales of U. S. wheat in all positions were placed at around 200,000 bushels. Receipts of wheat in Chicago were estimated at 32 cars. Corn developed an easy trend on the decline in wheat with December leading the downward move= ment. A local house was noted on the selling side as generally favorable weather conditions for the new crop weakened the market. Receipts of corn were placed at 149 cars today.

WAGON WHEAT

City grain elevators are paying for No. 2 red, 67c; other grades on their merits,

| Cash corn, new No. 2 yellow, 49c, Oats, 23c.

LIVERPOOL WHEAT

(Today's American Equivalents Based on Sterling at 2 35) Prev. Close Close 8, Vs 98% § 97%

877s .89 86 87%

Living Cost Dips

~__ _TREND_OF, ’ LOST, OF LIVING (ur INDUSTRIAL CONFERENCE BOARD)

of 90

a o

INDEX FIGURES, s

1932 1933 1034 1935 036 1937 WIS

THE PARKER CCRP. GENERAL DI INCORPORATED INVESTORS

Times Special BOSTON, June 28.—The cost of living has been slowly but steadily declining since October of last year. In May the average cost of living was down 2!2 per cent from a year ago, 3': per cent from the October high, but up 20': per cent from the depression low in April, 1933. Food prices made one of the largest declines, dropping more than 81% per cent from a year ago, with clothing down 3 per cent. Rents, however, increased during the past year.

PLANT EMPLOYEES T0 SHARE PROFITS|

OWOSSO, Mich., June 28 (U. P.). —A guaranteed wage and a profitsharing for employees of the new Owosso Parts Co. will be given a trial when the plant begins operation within the next few weeks, a spokesman for Ralph Redmond, president, said today. The new firm will succeed the A. G. Redmond Co. of Flint, which will discontinue its plant after 13 years of manufacturing automobile parts and accessories. A. G. Redmond will become an officer in the Owosso plant operated by his brother. In an attempt to promote better employer-employee relations and industrial peace, the new firm has drafted a tentative plan calling for: 1. A guaranteed wage, with future plans caliing for a guaranteed annual wage if the company prospers. 2, A profit-sharing plan, with employees receiving up to 30 per cent of their wages. Twenty per cent will be paid before dividends are declared for stockholders, and 10 per cent will be paid employees on an equal basis with stockholders’ dividends.

BETHLEHEM MEETS U. S. STEEL PRICES

NEW YORK, June 28 (U. P).— Price reductions initiated last Fri-

day by U. S. Steel Corp. have been

met by Bethlehem Steel Co, it was |

announced today.

The changes, applving to a broad | list of products, are effective imme-,

diately for shipment not later than Sept. 30 and cover only items for domestic delivery and consumption. To the extent that all geographic differentials are eliminated in the new price schedules, the Bethlehem reductions were even more sweeping than those effected by “Big Steel.”

YEAR'S BUILDING DOWN |;

While the value of building permits issued during the week ending June 25 showed a gain of $72,039 over the amount issued during the corresponding week last year, the total issued so far this year showed a $103,205 decline under the same period of 1837, George R. Popp Jr, Building Cemmissioner, reported today.

U. S. STATEMENT

WASHINGTON, June 28 (U. P.).—Government expenses and receipts for the cur. rent fiscal year, through June 25, eompared with a gar ago:

s Yea 82. 599. 175. 57: : or:

Year 3. \ 339. 53. 3.

BXDense ses

SR an DP DIO oe Cd =F

Customs ‘356, 082, 550.

INDIANAPOLIS CLEARING HOUSE

Clearings «ooovivnnssnsncssnnnsss. $2,004,000 Debit «vas 5,780,000

“en

Rush Jobs Make Us Smile

Hendren Printing

Company, Inc. 685 CENTURY BLDG. RI-8333

and |

Heavy Porkers Drop 25 Cents; Steers Higher

Estimated receipts of 8000 brought prices of hogs weighing more than 160 pounds down, mostly 25 cents, with a small quota here today averaging below 15 cents off, the Bureau of Agricultural Economics reported. Sows also declined, selling 15 to 25 cents lower, within a range of $6.75 to 87.75. In the sharp setback buyers took some of the sting out of

the loss by placing small premiums choice lots of uniform weights, and among these premium sales were finished lots at $9, but the practical

| top of $8.95 bought most good and

choice 200 to 210-pound weights. Most all leading terminals reported

| declines, with the weighty butchers

off most.

New crop lambs sold mostly unchanged, with the market limit again set at $8.50 on choice handyweights. Other desirable springers made $8 to $8.25, with the bucks out at $1 discount. Yearlings and older sheep were scarce, but the undertone was weak to lower.

Better grade fed steers and heifers predominated in receipts estimated at 2400, and sold strong to 15 cents higher in an active trade. Many sales of steers are now showing 15 to 25 cents over last week's price list. The action was good throughout the trade except on plain and medium beef cows which have been selling from $5 to $6. These have been returning poor yields and found narrow outlet today at weak to 25 cents lower prices, with other grades of cows around steady. Bulls sold strong to slightly higher, with $6.50 paid for a top. Best steers were long fed 1490pound weights at $10.50. These cattle lacked top quality, but carried finish enough for Eastern shipping account.

Choice 1160-pound weights made $10.35 and good to choice 933 to 974pound yearlings, $10. Although good and choice steers and yearlings were numerous nothing strictly finished was on hand to test the market limit. The rank and file of the good grade light steers and yearlings ranged from $9 to $10. A few load sof medium short-fed lightweights off the grass cashed at $8.25 to $8.85. + Best heifers made $9.75, several loads $9.35 and above. Weighty feeding steers went out at $8.25, stock heifers and steers at $8.25 and $8.50, respectively. Vealers opened at unchanged prices but closed mostly 50 cents lower, an early top of $9 replaced by a limit of $8.50 after the first rounds.

HOGS

COOOOVOVODODOD B05 C0 Gad J rt ot jt ot DJ et TD BS et CIOCORPN PINS ID

Barrows and Gilts— (140-160) Good and (160- 180)

Good (180-200) Good (200-220) Good (220-250) Good (250-290)

Good (290-350) Good

Packing Sows— (275-350) Good (275-350) Sood .

2323 ®.3Ja10 SNEHDNME

cholce. . choice . choice. . choice . , choice choice. . choice. .

and

LOO WD Jin OOUVOOOD

'3 8999309

=) ae

NNuRm eeDVOOD

(275-550) Medium

Slaughter, Pigs— 100-140) Gooa and cholce. . Mediu

=—Receipts, 1519— Steers

(750-800) Choice «e.evsessnen 1900-1100) Choi (1100-1300)

{ 1300. 1500) 00)

(900. 1100) (1100-1300) (1300-1500) (750-1100) (1100-1300) um (750-1100) Common ‘(plain)’ Steers and Heifers— (650-750) Gi

PION OIDOOU LN 033 9 93399339339 % : = PPOOD

“0D IO

0 BIINNNNBVOVD EE rE

(750-900) (550-500) (650-900)

>a oO wow;

Al ycights—m

Low cutter and “cutter. canes Bulls Yearlings Excluded (all weights o (hee 6.25@ 7.00 (All Ms iN "Medium Cutter and common ... Vealers (All weights) Choice (All weights) Good . (All weights) Medium «v.00, Cull and medium

—Receipts, 519 (250-400) Sheive .

Medium’ . Common

Feeder and Stocker ‘Cattle

Steers— 300.300) Choice 00-1050) Choice ... (500-800) Good .... (800. 1050) Good (500-1050) Medium s.veveases Common ... Heifers— (5569-750)

amo

or Coon

Good and cholce.. Common, medium

SHEEP AND LAMBS —Receipts, 442— Spring Lambs—

23 Sugai @3 6-30-3000

-3-3

wWes— : Good and choice ......e00s. Common and medium ......

CHICAGO, June 28 (U, P.).—Hogs~—Receipts, 17,000; directs, 3500; marke slow; mostly 10@20c lower: top, choice 170-230 Ibs., $8.85@9: [email protected]; 280-325 lbs., $8.26 350-450-1b, packing SOWS, iar welghts, [email protected]; 450 Ibs. up, “5s. Cattle—Recei 30 "7000: 1500 PT medfum weight an COM Ted steers, steady to strong; yearlings and light steers Jurong to 25¢ higher: heifers mostly 15@256c up: all light cattle very active at stron Io higher prices; some slowness on Jo00 a choice weighty steers, but deman rceq enough to clean at Steady

prices: best wei several loads, $10.! 75: liberal cupiy gieer yearlings, [email protected]; some $10.5 d_ better; weighty kosher heifers up to so 25 which along with light kinds rg $10 uncovers a new gh on bulls 25@50c cuts over time, up to Fo 75 paid today; vealers, $8.75 down: stea cows scarce and stron ng. s, 5000: 2500 directs. vie crop clipped lambs and springers weak to lower: spost, 25¢ off; native Sing lambs, $8. Bas 75: Westerns. [email protected]; fed Californias at outside: medium and good clipped lambs, $5@ 6.50. Today's trade active: old crop clipped lambs stro lambs strong to higher; s, 15@25¢ up; medium to choice d 25@7; tive spring [email protected]; sheep, ubout Steady; shorn native slaughter ewes, $3@

dy: ceipt

June

FT. WAYNE, 10c lower; 18 180- 200 Tbe. 20 80-280

, 9. * 900. 3% Ibs. ,

55. 05, 80; 22 0 ein Ibe $8. #

8. . 1 : To ‘120 Ibs. 81

6: calves, $8.50; lambs, $8; Adis ag

LAFAYETTE, June 28 (U. P.).—Hogs— 20@35¢c lower: 160-200 lbs., $8.60@

Markel, 75; 200-230 Ibs., $8. [email protected]; 230-260 Ibs., HY 3068.50; 260-325 Ibs. [email protected]; pigs.

$8.50 down; roughs, $7.50 down. Calves, $8 @8.50. Lambs, $7.50@8.

A SAFE DEPOSIT

IS LOW COST BOX INSURANCE

9 Different Sizes $3 TO $100 A YEAR

Security Trust Co. 130 E. Washington

"PAGE 17,

ON THE RADIO

TONIGHT

6:30—Al Jolson, WFBM. 7:00—~Vox Pop, WIRE. 7:30—Benny Goodman, WFBM. 7:30—Fibber McGee, WIRE. 8:00—Hal Kemp's Or, WFBM,

WFBM is shelving daylight network commitments tomorrow to bring you five hours of the Republican State Convention, now meeting here. A 45-minute pickup of the morning session is to begin at 11 a. m,, and the station will carry the proceedings straight through from 12:15 to 4:30 p. m. Two Tuesday shows will make their summer farewells this evening. They are WFBM’s Al Pearce show, and the Fibber McGee program on WIRE. Fibber is to be back after nine weeks, Meanwhile his weekly niche will be filled by a dramatized show called “Attorney at Law.” Henry Hunter, from the films, and Betty Winkler will star. The Pearce players are due to return in October, at which time they'll cease advertising motor cars and try a hand at selling groceries. Their summer successors have not been announced as yet. Benny Goodman, another Tuesday favorite, is getting no vacation, however. Next week's broadcast will find him back at home base after an extended tour, and on the first lap of an “extended” renewal of unannounced duration. He recently finished his first year for his present sponsors.

» »

Two big races are on tomorrow's NBC calendar. The elder chain's Blue network stations are to bring

» LJ "

you a description of the Massachus= sets handicap from Boston at 2:45 p. m. This race is expected to bring together Sea Biscuit and War Admiral for their first test of strength —unless one of the equine prima donnas comes up with a sore throat or charley horse. Other entries include Pompoon, Stage Hand and Aneroid. Officiate ing at the microphone will be Clem (One Round) McCarthy. Out in Hollywood, two other famous horses, Dauber and Lawrin, the Derby winner, are to meet in the American Championship Stakes. Blue network stations also have this one carded, at 7 p. m, Both races carry a $50,000 purse.

» » Rn

All three networks are to broade cast from and for the National Education Association convention tomorrow. CBS will put on its “Exits and Entrances” current history show at 12:30 p. m. Dem-=-onstration of the “Town Meeting of the Air” technique with high school participants Will be the 'NBC-Blue feature at noon MBS-WIRE will air a quarter-hour symposium at 3:30 Pp. m. I » Another young musician from Marion Talley’s home town of Kansas City will be tomorrow's “Keyboard Concerts” guest—CBS at 3 p. m. She is Adele Marcus, a veteran pianist in her early 20s. She has studied with Josef Lhevinne, coached with Schnabel, won the Naumburg Prize and appeared as symphony orchestra soloe ist under the batons of Arthur Rodzinski, Alfred Wallenstein, Rudolph Ganz, Alexander Smallens and Issay Dobrowen.

» o

THIS EVENING

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

INDIANAPOLIS FBM_ 12 (CBS Net.) River Boys

(NBC-MBS Sabin’ Or. Ne

INDIANAPOLIS TIRE 1400

)

Johnnie Johnson Livingston’s Or,

CHICA GN 7 (MBS Net.) Bill Anson Airliners

Orphan Annie

CINCINNATI (NBC-MBS)

Kabin’s Or. Happy Gilmans Paul Douglas Lowell Thomas

Christ, Sclence Boake Carter Bohemians

Easy Aces Varieties

News Rainbow Trio

Don Winslow

Concert Or. Sports k

Paul Sullivan Inside Sports

Big Town Al Jolson

Johnny

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Wayne Kine

Johnny Gould’s Or.

Green Hornet

"”» Paradise ”» ”

Al Goodman's Or.

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Fibber McGee

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Heldt's Or.

on “Hel fiber. ‘ Fibber McGee Con Ho e.

Sport "Parade

Kemp's Or, » »

Heatherton Viewpoint

Ripley 4)

J. Fidler Rhythm

Ray Am.

Myster Mysteries Hexfins® Heroes Denny's Or. er or er Hallett’s Or. aerpprs

Entertainment Amos-Andy

News Baseball Ll] ”»

5353 | 6252 | 5353 | 5353 | 5303 | 5253

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Singing Society

Amos.Andy Varieties Salute "

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Long’ s Or, Bock’s Or. " Martin's Or.

P. Sullivan Farber’'s Or. Moore's Or.

Kyser's Or. Ayres’ OF.

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Livingston's Or.

Review Crawford's Or. Livingston's Or.

Agnew’s Or. Basey’s Or.

WEDNESDAY PROGRAMS

INDIANAPOLIS WIRE 1400 (NBC-MBS)

CINCINNATI WLW 700 (NBC-MBS)

Devotions Govt,

Mugical Clock » ”

Dessa Byrd News

Early Birds » ”»

Kitty Kelly Myr. “Marge ndup ther

Mrs, Wises Other Wife Plain Bill

35353 | 5853 | &3

David Harum Lorenzo Jones Gene Pierson Linaa’s Love

i Ranny Chesire ron Strings 8 ez Sister Real Life

Mary McBride Towertown Tempos Mrs, Farrel)

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Nessa Byrd Grier’s Or. Bruce Barton

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Police Court ae? Ha Batters

RD | 5303

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News Wirges' Or. Unannounced

5252

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+ Women in White

WIRE a rm Hour

Daughter

Reporter

Middieman’ s Or.

Organ Hugh Cross

Merrymakers Peter Grant Gospel Singes Experience

Music Bo

Good Morning

» » » ” ”» Crane-Joyee

Manhatters Dr. Friendly

Get Thin Children Man On Street Painted Dreams

Rhythm Melodies Pedro's Violin _ - ui van ail Box

State St. Man Musis Seryices

Hymns Myrt.-Marge Hilltop House Betiv-Bob

Goldbergs Vic-Sade Short Story Road of Life

gNetlis s Daughior Ne Farm-Home

”» ” ”» ”» Live Stocks Thomas Sawyer

Linda’s Love Grimm's Daughter Valiant Lady Kitty Keene

Mary Marlin Roman Ma Perkins T oday's po Pepper Young Stoke’ Guiding Light Leadoff Can

Harding's Wife Baseball Midstream od » Julia Blake » Hatterfields "

H. Tur Yesterday, s Songs June Baker Serenade

ald

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Middleman’s Or, Happy Gilman's Paul Douglas Lowell Thomas

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, WHEK, 1390; WHKC, 640; CKLW, 1030; WSM, 650,

MUTUAL—WOR, 710;

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