Indianapolis Times, Indianapolis, Marion County, 14 July 1938 — Page 23

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THURSDAY, JULY 14, 1938

STOCKS HOLD NEAR

PREVIOUS LEVELS; "TRADING 1S SLACK

' Corporation U. S. Steel.

Bonds General

Motors Firm.

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HOBBS PREDICTS UPTURN IN 1939

Py — previous idafternoon dealading was dull.

Chicago Economist Says Year-End Setback Is Imminent.

Franklin Hobbs, Chicago economist, today had predicted that busvolume and industrial production will reach new highs in 1939 despite a setback in November and December this year. He forecast new lows 1942 and 1943. Mr. Hobbs, economist for the Moore, McLean & McDermott brok1 firm of Chicago, spoke before anapolis bankers and businesslast night at the Meridian ry Club. Mr. Hobbs said. there have been more than 100 improvements and indications of nereasing prosperity for the yearwith the exception of the Novem-ber-December setback.”

Cites Trend Since 1801

Mr. Hobbs said his predictions were based upon an intensive study of bu statistics. He outlined the similarity business behavior in the decades 1801 “If we reach anticipated this summer, the setback vember si will come, but it will be only temporary. After November, business will rise until some time in 1940. when it will slack, as it did 1930 1d 1920. When we reach these highs next vear, we may get a sharp setback 1940 from which we may or not recover. That depends on

Iness

in 1941,

x Since July 1.”

siness of since highs next Norely

after

may 1" »

BROOKINGS DEFENDS

LARGE BUSINESSES

Research Institution Praises Motor Competition.

WASHINGTON. Juhl A Brookings Institut

14 (U. P)— report on declared to carry for continuous emthan public agencies. A The Brookings report, coy ering “inausirial price policies and economic progress,” was made by Dr. Edwin G. Nourse, director of Brookings’ Inof Economics, and Dr. Horace member, 0 analyze present day and pattern of business ion, new price philosophy, ! te the general inquiry distribution and progress begun five years Brookings—an independent rusan economic fact finding the two economists power diminished” maintain have little a period of added. comreason of their have been able to maintain large technical and managerial staffs have led in price reductions I'hev cited the struggle between the three largest automobile organiproviding “the high mark competition” to date that despite the wustrial econsolidathe percentage of the nation nisiness controlled by corporations has not increased ibly. It remains at about 40 the report asserted. about he same as at the beginning of the century Large corporations occupy an important place in modern industry, not alone because of the technological need for large units of equipment, but also fr economic reasons.” the report said.

LOC! \L ISSUES

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M PF Crist & Co. nvestment Corp. 24.29

FOOD PRICES

CACO Pl

— Apples, e

Celery

COLONIAL

Savings & Lean Assn. 228 8. illinois LI 3814

N. Y. STOCKS

— | Net | High Low Last Change Adams Exp ... 11 il 11 - 3 | AlghCp pf $30 w 11 11 11 - 3 { JRhCp pf $30 xw 11'2a 11a 11% 4 1!» Allied Mills .. 127% 12% 12% 4+ % | Allied Stores 10%: 10a 10%: — 3% Allis-Chal on 43% 47% 43% — 1 Alpha P P Cem .. 3 i 3, “ Am i« 3813 9's 2 — 3k Am Car & Fdv. 443 4483, 443, 1, Am Chain & C 173%: 17% 193%: — 1» Am Com Alc 13% 13% 133% 4+ 4. Am Crys Sug 1314 13} 13% — 1, Am s F kd 45 Hh id — a m fle & L 43g 5 A —- » | Am Home Pi 41 4] 4] —- 1 Am Inter ila Tl: Ts = NW Am Mach & Fdyv 153% 15% 15% — 1g Am Rad & SS 13's 15's 13a — 1a» Am Roll Mill 20 20 20 —_ 3 Am Seating 13 13 13 — a Am Smelt ..... 47's 47's 47's — Ta Am Type F .. 1 7 T -_ 1 Am Water W 10°: 10% 10% — 3 Am Woolen .... 8 8 8 -_ 1 Am Wolen pf .. 3734 373% 31% — 1 Anaconda 33 33 33 - 1 Arch-Dan-M 28 28 28 “ss mour Il 537% 5% 53% 4 8 Armour Ill pr of 45': 45% 45! — 13, Armstrong Ck . 4114 41 41'y, — 1 Arnold Const 97% 97s 9% — 1 Asso Dry Gds 97s 9%, 98 Atl C Line 211 2's Ml; — All Refining 2a Mla Mix 4+ W | Atl Ref pf A 106s 1068':x 106'y — 1, | Atlas Corn. pf .. 433. 43% 43% — 1, | Austin Nich 3's 3s 3a — 1 | Aviation Corp 4, 4's " ii Bald Loco ct 2 9 9 -— 13 Balt & Ohio i 9 0 -_ 1 Balt & O nf 101, 10%; 1015 — 3; Barber Asphalt. 213: 21% 21% a Barnsdall 19's 19's 19'a ‘a Bendix Avn . 1958 16% 165% — Beth Steel 57% 57 33% — 33 Beth Steel 5 nf 18 18 18 — 1% Black _& Decker 17'4 17% 17'a = 3% Blaw-Knox .... 153% 15%; 1515 Boeing Air « 33% 2/4 2934 : Bon Ami BR 48 48 48 + 1% Borg-Warner 30 30 30 - 1a Bdgept Brass .. 11% 113% 11% 4+ 1, Briers se . 28 287% Ni — YH yn 1% 1g : | Biv & @ Fr. 2% Be 3: Xm | Bklyn & @ nf 9 9 §° < y Bucyrus Erie 11'% 11'k I's — 1 Budd Mife 5% 53% 534% Budd Wheel 435 43, 43: — Bulova W (. 232 NM 21M — 3, Burlington M 112 HY 113 <~ Bush Term 27% 2% 27% Butler Bros a 8 2 lia “al Packing 21 21% 21% = KN Camp phell Wy 15° 15% 15! i nada Drv 19%: 19%; 10% — Can Pacific 1 7 T Caterpillar T 323% 52! 9232 = MN Celanese 19 1R% 1° - 1 Cent Foundry i's 4's a — 1, Cent Viol Sug 3! Tl2 Tz Cerro de Pasco. 45% 45% 45% - 5 Ches & Ohin 30, 30 '%¢ 0, — I, Chi Gt W Rv 3 % R — Chi Pneu T 145: 14% 145s — % Chi R IXP 6 pf 2': 2% 2'a Chi R IXP T pt 23% 23% 2% — Childs ‘ 8's 8's 8's — 1; Chrysler 653: B3': 63% —~ 34 Climax Molv Co 41! 41, 41's — 15 Colgate P P 11's 11% 11's — 4 Col h%d . 165 2 IA Ih — 55 Col & Seo 15 2 12 «. Colum Bas 34 Ti Th — 1 Col Pie vte .. 143, 14%, 143: — Com Inv Tr 48! 48, 16% <1} Com Solvents 94 9% 94 Comvwlth & So 13% 1% 1% — 1% Comwlth & Spf 42%; 29 2c — 14% Cons Aireraft 167% 1824 1824 -— 8 Cons Oil 10% 103: 0% 4 's Container 163% 18%, 18'4 — 3 Cont Bak A 19%, Qh 2 _ Ya Cont Can 47 3 T -— 4 Cont Mot i} 1% 1% — ! ri 65% 65% 65% — NX 32%; 32 32 - & 13, 3%, M's: —~ i 3 x 5 5 35% Bh a8 a2 Ll. WSs NN VX — 24 24 2 13% == Deere & Co 21'a 2) 21 * Dey R A IR 38 38 : 1 Diam Ma! ch 23714 27a 274 - 33 Douglas Air 51 50% 50%, — 1; aff East R Mill 8% 6% 8% + WB Eaton _Mfe 133% 11% 13% — 1% Elec Boat Ra 8x 8a — Elec Pur & Lt 1134 1134 113% - "a El Px&l, 87 of 40! 4 40 — 1 Rl Pasa Nat Gas 254% 25's 25's — 3 Erie 3 3 34 Eureka Vag 47x 4% ~ ‘a Evans Prod 11% 11% {M4 - '» Ex-cell-n 14°, 14, IL} -_ 1s | » pe Ped Wat 8S A 17% 17% 1% 1 ‘a Firestone 1 21's 21% 21! - Ta First N Sirs 29 29! 21! ! Flintkote 20: M's 2M 1 Foster Wheel 1815 18! 18's 1 Freept-Sulphur 28', 28%: 28%, "a li Gair Robt 3 5 5 - 5 Gen Am T 46°F 46'% 48 Ta 2 10 1 10 B 5 3 5 115334 1133 115 1'% 405, n'y mi - 13 1 1 1 ON Gen Foods pf 109 109 109 Gen Pub = 2 2 2 Gen Riv & U 19% 13% 13% Gen Refract « 31 31% 313% k 1 Gen Tht re Ea 147% 14% 14%, - 1 Gimbel! Bros 1234 1234 1234 1 La Good! ich of 40 a» 49 ‘ Goodvear 28°, 237% 23%; — WN Gotham Hos 434 43, 43% -— e 1% 5° 5% 3k — 1 28's 28'x 4 Yi. 20%, 20's — 13 28': 28! Lk 13 15 I5'h = 1! 10%: 10%: — 1 13% 1% 8°: 8°: - MN 29 20 Ya 351 55° 1 3% 37 1 3a 50 1234 133% — ¢ qf aw - Hudson Motor 8s 8's 8! wif Il Cent 1034 10% 10%: ~« Indian Rel 3! 3 3's 3 Ingersol Rand. RR RR} RB: - ‘a Inland Sti Ti 70 LT | Insriral n Con 14% 14% 183, — 1% | Int 27% 2 'a 2%: Int | MiG ecter 81% 83% 83%: 4 ‘a Int Nickel! . R's 1%: 8%: —- 3 Int P&P 10 10 10 - 13 Int PP nt 42 12 12 —- Int Shoe 33! 332 33's ~~ NW nt Shoe 33, 33! 33 -— 3 Int TT ie 2%: 10 - Int TRT For .. 10 Sty My A Intst D ¢ 4 13% 13% — 3 ai Johns-Man 9 9] 9] - Jones & Lg ¥ nf 8: & 3 -1 fs Kennecott 39; 30% 3a - 5 Kevstone 10 i0 10 -_< Kresge 88 1834 18% 18% Kress 29 29 29 -_ 15 Kroger G&B 16% 18's 18's —~ 1% a Leh P Cem 24 24 2n - 1 [2h V Coal nf 45% 4% 15% ‘2 Liq Carbon 9 19 19 : Loew's 503% 305% 50% = 1 Lone 3H cem S51 SIN 1% ‘ Long Bell A 45% L he ih | Mack Tr 25% 25'% 25's — W Lod R Bis 0% 40 14

IGE INDUSTRY PLANS

3-YEAR AD PROGRAM

10-Million<Dollar Campaign | To Open in 1939.

The national fee industry is te launch a three-vear 10-million-dol-lar advertising campaign early in 1939. Henry L. Dithmer Sr. Polar Tee & Fuel Co. president. and O. P. Fauchier, Indiana Association of Ice Industries executive secretary, announced today. They made the announcement on their arrival from Chicago where they attended a two-day meeting of more than 100 ice industry executives With the exception of $750,000 a

vear for national magazine and radio advertiisng, the balance is to be spent in newspaper and local

promotional campaigns, Mr. Fauchier said. “Local and national advertising | of the ice industry during the last three years is responsible for main | taining the ice industry at more than 85 per cent of normal during the first six months of 1938." he said. “In view of general business condis. | tons, this is an exceptional record and conclusive proof of the value of local «ad national advertising.”

TRAVEL BUREAU

Steamship, Bug, Airway Tickets

By United Press

, DOW-JONES STOCK AVERAGES 80 INDUSTRIALS 1

Zenith

THE INDIANAPOLIS TIMES

TR SIE RR PNR

PAGE 23

WHEAT BOOSTED

* AFTER WALLACE . ANNOUNCEMENT

Federal Loan Rate News Effects 2-Cent Rise In Chicago.

CHICAGO, July 14 (U, P.).—Announcement of the Federal loan rate on wheat boosted wheat prices al most 2 cents a bushel on the Chi« |

cago Board of Trade today, after hedge selling had depressed the earl, market.

The rally more than erased early losses and the market steadied at levels higher than the previous close. Early hedging pressure and the decline at Winnipeg after opening firmness had combined to give the market an easy undertone, but the loan rate, which established the price of No. 2 red wheat at Chicago at 75 cents, and No. 2 hard winter wheat at 77 cents, brought about a

{ sharp rally.

YesterdRY ....ccocooiiiiii 36.90 Week Ago ....... Shiiantnns 135.145 — po Month ARO ....c..icioviiiis 113.97 S08 Year ARS ..........:.: ‘i 199.51 +114 High, 1938 138.5%: low, ORO5, High, 1935, 190.40; low, 113.64, 20 RAILROADS Yesterday ....... 000 25.12 ae WOK ARO ...:iiiiiciiiiiiii 2]}W/ 31 Month ARG ......cicoiiiiiis 05 nr Year Age iiiiki 53.82 Jon? High, 1938 32.3%: low. 19.00, High, 193%. RLIR; low, 2801, | 15 UTILITIES | Yesterdar : N55 013 Week ARS .....ciiiiiiiis MI5 4 Month ARO .....ci.ciiiiinnn 1865 —n.0n Year Age “ ‘4 ;|R 0.03 Righ, 1938 32.3%: low, 15.14, High, 198%, 37.54; low, 19 6s. Ne High Low Last Change Marine Mid - 5% 5% 5% Marshal Fld ... 12 12 12 + Y Martin Gl 3% 2B Bly — Masonite Corp . 44 “" “" - 3, Maytag . 3% 5% 3% — 1, McKess & Ro Ta Tn Ta — 1 McK & Robb ht 33% 33% 33% — 1, Menge! 32 5's 8's: — 1, Miami Cop 10% 10% 1030 = 1 Midland Stl 291: 241, 4': ~~ 3, Minn-Moline Th Tia T's Mo-K Tex . 23 2% 2% Mo-K Tex pf 9's 9's Bly —< yi Monsanto 2) 2] a = % Mont Ward 3% 43% 43% =< 1; Mueller Br 22 22 2 - 1 Mullins Mfg B T i 7 -_ 1 Murray ‘a ® x -— i was Nash-Kely 10'% 10's 0k = 1 Nat Acme .. 12'a 12% 12% ~< 1 | Nat Biscuit 23% 23s 23% ~~ 1; Nat Cash Reg . 21 21 21 -_ 1, {| Nat Dairy .. 18% 15's 13a — 1 Nat Dept St 93, 93, 8 + 1 Nat Spm joe 10°02 1012 — 1, at 271% 2's — 1, Nat Lead pt > 13% 135 135 1 Nat Per & I 7% Ti% Tin 1a Nat Steel 57% 81a S1'y -< Sa Nat Sup Penn 19 19 19 -_ 1, Nat Tea 3% 3% 3% Natomas 10% 10% 10% ~ Newport Ind 17 7 17 — 1, N Y Central 17 17% 173% « 1g N Y C Omnibus 30! 30% 30's — 3, No Amer 21% Sa 21% a No Am Avn 103s Yr 127% 1g No Pacific 107: 107, 107%: % iP Ohia Of) 12 12 12 — 13 Oliver Farm Fa 27% 2% 27! -— 1 Omnibu 15% 15 15% la Otis Steel 107% 10% 10% — 5, Owens Ill Glass 66'; 66', gg! - 1% —Pae Pac Am Fish. . 8'a B'% 8'4 4 Packard « (814 5's 5'a - I Baramt Pict . 11% 11's 11% - ‘a Pathe Film i 6% 7 1, Patino Mines 11 11 11 Peerless 3! i! TY Penney : gC 91; 192 —~ Vy, Penn RR 20's 201, 20's —~ S54 Pere Mat pf 28 28 28 | Pere Mat pr pf 30 30 30 Pet Corp Am 117% 117% 117% 1a Pleiffer-Brew la ils Ta 4 Phelps Dodg 32 31'% 32 A Phillips Pet 41% 41%, 41% ‘4 Pitts Sc&B ® 8 R 14 Pittston 1s : 1 ‘a Plymouth Oi 22a 22's 22'a — 34 Poor B 9, 9, a - } Press Stl Car 8% R! 8% 4 Proct & G pt .117 117 117 4 Public Serv 2's N's Pullman 33% 3% 33% Sa Pure Oil 123: 12's 12's ~~ Ta fe Radio 5 fa 8% = IA Radio pf N 53'% 53's HB; — : Radin. K Or 2%: 2%: 2% = 14 Rayonier 1314 18's 15% =< 1; Ravyonier pt 22, 221, NV £1 Reo Alot a! 2% 2's Republic St) 187 18% 187, ‘a Repub Sil pf A 60 &0 60 14, Revn Toh RB 417 41'% 41% ‘a Richfie! d Oil T's 1° T's Ruberoid 23's 23! 23's _ Safewar 18 8 iL] '. Schenléy Dist 19% 10'; 10 - 8 Schulte R Sa Sa Sa Scott Pap 4, ay, fy ~~ \ Seahd Oil 25 25 25 Sears Roebuck BI'a 67 674 ~~ 3; Shattuck 10 10 10 Shell Un O11 17's 17'% 17's ‘a Simmons 24% 43, MY - 14 Sotony Vacuum 14% 147: 147: ‘4 South Pac 16's 15% 18 2 | South Ry 12'4 12 12% ‘a South Ry pf 174 17% 174 'a Sperry Corp 24s My MY: 4 1, Spiegel Inc 137: 13% 133% =~ 4 Std Brands R's R's R's Std G&E 4, 43, 43; — 3; Std G&E pf 93, 9, 9% Std O Ca! 3134 3P%q 3% = 1; Std Oil Ind 32 12 12 —_ 1g Std Ol NJ 547% 545; Mix «~ J Stone & Web 10 97a 9% = 1; Studebaker £ 8 £ «- 13 Sunshine iMn 3% 11k 1% a Suth Pap 38a 28's 28's 4 1; Swift & Co 17% "i T% Pus enn Corp Tis TT TT I Fexas Cor 45 a9, 45, 's Texas anit Prod 4, 4, 'f ~~ 1 Tex Pac LL T 10%, 10%, 104 1 ‘a Thompson Pr 15'% 15%: 15'% lide W A Oil 147, 147, 147, Limk-D Ax 147, 14 147, 1 LI ransamerica 11's 11's HY =< I'win Ceach 2's LA My =~ wiles Und Ell Fish 58': 58%; 581 1 Union B&P 13'4 13 13 - 1! Union Carb 70 Te Ta a“ 1 Un Oil Cal 2 54 ’ 5% ISL en Un Tank 21% 21% 21% Un Ajreraft Cp 28', R's 28's Ta Un Air Lines 10 9%, §% < 1, United Corp 3's 3 : -— iy Un El! Coal 5% 5%: 57% Un Gas mn 103, 10%, 10%, Un_Panrbd 6% 6% Bld = & U 8 Rubber 37% 37 273, 1 US Pipe & F . 3R', IR! 38! 3a U8 Rub 1 nf TT's 7 13 U S Smelt nf 8) £1 8! 1 U 8 Steel 382 58 58 Ta U 8 Steel nt 108, 10R'. 108! 11 U 8 Toh pA) 32! 32, Un Stores A .. 2% 2% 2% «= §; “lon Vadsen Sale 3H “a Vanadium 17% 17% 17% s. Va Car ® of 27% 283% MY «<< —_—We Walker H» 9%, 2a 39: « Walworth 8's 87% 8 x Ward Bak A 17 17 17 = Warner Bros 64 64 83% — 1; Wavne Pump or 28 or - 8 Wells Fargo “& "a %h = West Pae nf 3 3 3 W Air Brake 23 23 25 -— iy Westing El 98's Og! BB: gt, W & Lk E nf 70 70 50 ‘ White Rock T34 T% ™h << Wy Wilson & Co 45 4% 43 «< 8 Wilson nf hy 41% 41 « 1 Woolworth 47% 473, 473 - Worthing 19%, 19%, 19% « 1, Worth cv pr pt. 45 45 4 - 1% a Wes Yale & T 38°, 36%, 36% 4 : Yellow Tr 185% 161, 16's — Young Sheet h 37 % - 5 ls. Rad . n A 2% « 's

CHICAGO PRODU CR

Butter Market, steady. Receipts, 1.935. 699 gross Ibs Extra firste 190-91'. score 28°, E@25¢. extras (99 score). 25'.c: fArste 23 @ 25¢ seconds 22@ 22" se specials 25, @26¢; standards 25'ic: centralized 188 score 23'4¢; centralized (89% score). 24¢ Eggs— Market steady Receints, 14 545% cases. Fresh graded firsts cars, le; less than cars, 20':c Extra firs's cars, 2le lest than ears 21¢ Checks. 18's¢ Extra firsts ears. 2le: less than ears. 9e Checks, 18'2¢: current receipts. 19%: dire ties, 17'ae: storage packed Arsts, 21'.e storage packed firsts, 21's¢ : Poultry—Market. hens. steady chickens weak Recents, 43 trucks. Ducks 11% 13c: geese. llc. hens. 18¢: Leghorn hens 1% spring chickens 18ec broilers 15, % 17'.¢; fryers 168'.6 10¢c: roosters. 134 14c turkevs, 126 16c | There Tins 16123 hae JSnistes i an we . adi

:_longhot ns

FOREIGN EXC HANGE |

NEW YORK Ju

rxchange irregulary

opening cable

Ivy 1% 00. PO

Foreign | lower, Following a

rates on major currencies

Cable Rates Net Change

England (nound) $403 3.18 o 18 | Canada (dollar) 09% 11.32 % 233 Rance ‘frane) N276%: : aly lira) 0528! 4.00001 Stlgium ihelga) 1693 0000 Germany mark) 4 -.0000', | Re itzeriand {frane) 286%, 4 00000, | Holland |guilder) S308% —0001 | weden (krona) 2543 —.0001 Norway (krone) 478% —0001% | Denmark (krone) 2202 0001 | Japan (ven) 2877 -.0001

dow. Drive up

during ba

Trust 123 East

AUTO DEPOSIT

WINDOW +

* Latest type safety win. Opens on alley-way at east side of building.

and transact

your business any time

nking hours

no parking worries,

Fidelity

Company

Market Street

Member Federal Deposit Insurance Corp. ration

Other North American grain markets responded to the rally with Kansas City relatively stronger.

Federal Wheat Loan Rate Near 60 Cents

WASHINGTON, July 14 (U, Secretary of Agriculture Henry Vallace today estalished wheat loans to co-operating producers at rates averaging between 59 and 60 cents a bushel, Mr. Wallace set rates for the loans to prevent a glutted market as U. 8S. farmers harvested the sec-

P.) A.

rates for

ond largest wheat crop in history |

and the Commodity made available 100 millions to fine ance the program. The loans, officials estimated. will enable farmers to store 130 million bushels of wheat on farms and in Government warehouses, permitting the 967.400,000-bushel wheat crop to reach the market in stages calculated to prevent a break in prices. The loan rate was announced after Mr. Wallace warned wheat-produc-ing nations of the world that the

Credit Corp. !

United States is determined to wet |

its fair share of export markets and has 250 million bushels of the staple available for sale abroad. The loan schedule established flat rates for storage on farms and at county shipping points in where loans are not expected to be

large The rates included: Indiana, all counties except Lake, Newton, Benton, Porter, Jasper,

White, La Porte. Pulaski, St. Joseph, Marshall. Fulton, Elkhart, and Starke. Rate is No. 2 red wine ter, 67 cents. The counties excepted | will receive rates based on Chicago terminal loan rates

LIVERPOOI Ww HEAT

1st Boe 17.37 18.8%

NDI TRB DIND

states |

Kosciusko |

| |

6006 5100 1500 | 7089 6014 5720 4861 Barrows end Gilts— 1140-160) Good and choice § 9.00@ 9.55 1160-180) Good and choice . 9506 9.60 (180-2001 Good and choice . 9.55@ 9.65 1200-220) Good and choice. . 9 45a 0.05 (220-250) Good and choice... 9.10% 9.55 1250-290) Good and choice... 850m 9.25 (290-350) Good and choice... B8.10@ 8.65 Packing Sows— 1275-350) Good 7.8540 8.25 1350-4251 Good T.6060 7.90 1425-550) Good “ 7.0060 7.65 (275-550) Medium. 6.75 7.85 Slaughter Pigs (100-140) Gond and choice. . R504 025 Medium ‘ 8.26t@ 0.00 CATTLE — Receipts, 035 Steers (750-900 Choice nna 28 900-1100) Choice 10 2847 11.75 | (1100-13001 Choice 10. 95@ 12.00 11300-1500) Choice 10.756012.00 (750-0001 Good 2.006 10.25 900-1100" Good 025610 50 (1100-1300 Good 025m 10.75 (1300-1500) Good 2.50% 10.75 1750-11000 Medium 7.750 9.25 (1100-1300) Medium ‘ 8006 0.50 (750-1100) Common (plain) 7.00 8.00 Steers and Heifers— Heifers (7150800) Good .......c.¢.cs B50 0795 1550-9000 Medium ......0000 7.25% R75 (550-200) Common ......vus « BO00@ 7.25 Cows al Welghts— B88 ioc ceiiiicicerins 7.008 17.50 Medim Eheee 625@ 7.00! Common Ves 550@ 625 Low cutter and cutters 400@ 550 | Bulls (UU. 8 equivalents based on sterling at ey ed = wee 30 25 9% | £4 92%, Prev | (All weights) Medium ...... 6.50@ 7.50 | High Low Close Close Cutter and common 500@ 6.50 | July $0953, %005': $095'x $0 Vealers Oct 857 85's 85's 86'2 | (All weights) Choice ....... 9.50710.00 | Dee 84% (83% hale 85 (All weights) Good 8.50% 9.50 i" (All weights) Medium 7.50@ 8.50 Cull and medium 5.00@ 7.5 Chicago Stock Cutve —Receipts, 557 950 - ” High Low Last (250-400) Chole ‘ cous tha : 14 Atins Bai) 8 Bi 8 314 Medium ........ . 5756 625 A iou) fe cs St 3 . a Common 525@ 6.75 £ 1¢ A i ' Borg Warner 30 30 0 Steer Feeder and Stocker Cattle Ne a 87 9 Steers Le icon Te 27 Ps . 297 1500-800) Choice ..cvivvines 8257 9.0 Comp Ind Gas 17 17% 17 (800-1050) Choice .....vs ‘ 8.0060 9.0 Consol Bi§ .. g th 6 1500-8001 Good eve 7.500 8.2 De Mets Ine of. tc: "0 LEE (800-1050) GOOA .....eeee 7.006 82 rar tra - - ot 1500-1050) Medium ...vvven. 6.7840 7.5 Hetleman Brew N . Common 6.006 5.0 Katz Drug 4's 4a 4% Heife Manh Dear "a . "| T(580:180) © »d and choice . 1.00% 8.0 Marshall aie 5 ye a" oF Py 2 en medium 8.006 7.0 erch Mfg “kd 2 2 i . Micke! Food k 3 1% 1% SHEEP AND LAMBS Mid West Corp T 7 ~ Receipts, 1268 Noblitt Sparks seas 227 22a 22'2 | pring Lambs— No west Bancp ETT X 1a 14 CHOWE -. cccoveveveveviviie 9.256 9.50 Penn El Switch A 13% 13% 13% KIOWE ...cocovveveee eevee 8 5040 9.25 Sears Roebuck 6774 67% 7% MeGium ....ocovvevivennnes 7.25@ R25 So Bend Lath 167 16%, 16% Common CERNE EIE Raa eee 50% 7.25 Swift & Co 177%, 172, 17% Bwe Utah Radio Prod 2's 2'a 2'a Good and cholce TT 1.75 2.75 Weiboldt St s 10, 10", 1014 Common and medium 1.00@ 1.75 Zenith Radio 22% 22! 223%, ——— a EL CHICAGO, July 14 oe «Hogs Re<n ceipts, 13.000. directs 4 market, verv | INV ES | ING C 0.'S | slow. practically hae done: under- { ct tone. lower. ton 8 (By the In Bkrs. Conf . Cattle—Receints, 5000. calves, 500: mar« | Rid Asked R 14. Asked Ket. steady Ad Fd 2 12.33 3 Inv Ids Am 3.31 2 an Sheep— Receipts, 7000; directa, 5500; Affi] Fd J8R 4208 ( 10.48 11.17 rket. steady Amro H € 20.31 22.13 Ky OF-Bl 23.38 2110 na Am Bus n 41 3.768 CF-B2 21.73 23.86 FT YNE July 14 (1, Pp) Hogs Am G Ea! 28 63 CE-B3 14.78 16.21 | nfapket. Wm cents lower: 200-220 Ihe, Bnk N Inv 185 i CF-K1 1429 1568 $0 50: 180-200 Ihe. $0.45: 160-180 Ibs. $9.40 Bos Fnd 1383 18.33 CF.R2 10.98 12.20 | 390-240 Ibs. $0.25: 240-260 Ibs. $0: 260-280 Brd St In 24.37 26.08 GER 1307 1548 | he “8.75: 280-300 Ibs. SRS50: 300-338 |r Bull End 14.31 13.3% ta Sha! 204 3.68 | gp3n. 398.350 Ibs. $8.95. 140-160 lbs Cent Tr 231s “at Ma nd 2.53 6.08 | $0.05 120-140 Ibs. $9.75: 100-120 ibs. $8.50 Cmwith In 348 3.72 Mass Inv 20.72 21.98 oughs. 87: stags $6: calves, $9.30: lambs Cont! Shs 7.50 B30 Mut In F 11.35 12.41 8: clipped jambs A : yar S Crp Tr Sh 2.50 N-Wide sec 3.21 33) | ¥ p Mn Crm Fost 22.50 24 50 Natl In 551 58% "EE 28.00 30.00 N End Fd 12.84 13 51 | ———— __ — Cumu Tr 4.6] N Y Stocks Ine: Dep Ins A 290 Agric 3A a8 2.70 Avia T T Diver © 360 Bk Stks 7.66 82 Notice of 22nd Consecutive “nD 3.55 620 Bid Sun 804 8.7 Etn Hwd 17.02 18.28 Elec Eat 7.7¢ 83 Equity Tr 27.00 30.00 Insur 912 98 | Fidelity 19.11 20.5% Mach 804 B87 Fiscal gant Ine: Metals 852 02 Bk 2.4¢ 2.1) 8.53 103 Ins 1d 33¢ 3.72 RR’ Eat 5.16 7.35 Fix Tr 9.20 St 7.68 83 R 7.24 N AL 1955 2.62 For Bnd 6.96 1956 2.58 Fnd Tr A 7.53 1058 2.27 Fd Inv In 1703 1837 Rep T 9.75 10.25 A 480 550 Sel Am Inc 927 10.11 “pn 433 Sel Income 406 Gen Can 3061 32.91 Sov Inv 50 8 Gen In Tr 477 5.20 Spen Trek 15.15 15 9% Group Securities Std Util 52 56 Agric 1.14 1.24 St St Inv TR 00 81.50 Aviation 1.25 136 Sup Corp A 3.14 Blde 41 1.33 B 3.28 Chem 1.27 13R Cc 564 Inv Sh 81 8% D 5 64 Merch 1.07 1.17 Super AA 2.12 Pet 1.15 1.26 RB 2.12 Steel 1.14 1.24 Supvsd 9.84 10.60 Hur Corn 60 100 Trst St In 2.40 « | Inerp Inv 17.37 18.68 Oil A 6 31 Inst! Securities Ltd: Oil B 5.98 Bk Grp 107 1.18 USELAP B 1.77 18% Inc Grp 127 1.41 ! f Invest Rank Corns well Rind 13

Heavy Porkers Off 25 Cents; Top at $9.65

Hog prices toppled further the year's high mark of $10.15 here today, the Bureau of Agricultural Economies reported. Weights above

160 pounds sold 25 cents lower, 40 |

to 50 cents under the week's high. Lighter weights and pigs scaling 160 pounds and less were off 10 cents. A narrowed outlet into consumer | channels at the recent advances in dressed pork prices slowed trade and | reduction in product values resulted. |

The hog top dropped to $0.65 on (J of this evening's program,

200 to 210-pound averages. Packing sows were reduced 15 to 25 cents following a similar loss yes=

terday. Bulk of the sows cleared within a range of mostly $6.85 to $8.

| |

| later work during which he discov- | | ered that microbes are both man’s

The price list weakened further |

on all but strictly good and choice steers and heifers, with the latter grades practically lacking.

Several |

loads and lots of plain, medium and |

steers and heifers lower,

low weak

good to 26 cents These week's decline. Steers sold at $1050 and under and heifers at $10. All grades cows held fully steady with the demand broad for cutter grades.

ruled |

| grades have suffered most in this |

Most fed |

steers here today ranged from $9 to | ! $10.65, best heifers $10, grass steers

$7 to $8.50, and grass heifers $6 to $7.75. Good and choice vealers advanced mostly 50 cents to a top of $10 with lower grades unchanged. No change was recorded in spring lamb prices.

Quarterly Distribution of

QUARTERLY INCOME SHARES, Inc.

The Board of Directors has authorized payment of the regular quarterly distribution of 30 cents per share for the period ending July 15, 1938. Checks will be mailed to share holders August 1, 1938.

HAROLD F. DUGAN Secretary

DO YOU WANT

$1,133.13?

invested each accumulation month for is § years § 323.05 MM vente ........occ 398M 15 YERIS suvsenveeeee 113315 20 years ....... voi 1638.20 35 YEAS civic 2224.30

When 85 is The total

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from 1st,

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and in CELTIC FEDERAL

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23 W.)oHIO ST. |

DI DIPIPIPDD

| day,

ON THE RADIO

TONIGHT 6:00—Rudy Vallee, WIRE.

| 6:00—~Men Against Death, WFBM, x & 8 7:00—Pulitzer Plays, NBC. A year ago CBS opened its pree 7:00—~Toronto Symphony, WIRE. |(entious and streamlined Shakes

Schallert will give the matter cone sideration during their alloted time.

8:00—Bing Crosby, WIRE, [ peare cycle. Observing the anni from | 8:30-American at Work, WFBM, versary, Victor Bay, the Columbia — Concert Orchestra and Hollace The story of Louis Pasteur, al- | Shaw, soprano, are to devote to- | ready having been dramatized by | night's “Essay in Music” to inci | the movies, will take up the next dental music from Shakespeare's two chapters of CBS-WFBM's “Men | plays. | Against Death,” based upon Paul Opening the concert (8 p. m, | de Kruif's book. The first install- CBS-WFBM) will be Nicolai's fament will be heard at 6 p. m. to- miliar Overture to “The Merry

the second, next Thursday, | Wives of Windsor.” Next will come Incidents of Pasteur's boyhood, | the “Willow Song” from “Othello,” his life as a young painter and | credited by CBS to Dallis, although chemistry student, his marriage | Thomas Tallis probably is meant, | and scientific research will be sub- Lhen there will be excerpts from the contemporary Erich Korngold's music to “Much Ado About Nothing,” and that most famous of ine cidental Shakespeare scores, Mendelssohn’s “Midsummer Night's Dream.” William Byrd's music to “O Mistress Mine” from “Twelfth Night,” and 'Tschaikowsky's “Romeo and Juliet” Overture will complete the | program, ” ” ” Elza Schallert's weekly movie in- | terview period (:15 p. m. NBC- American Blue) will be expanded to a half- soloist hour this evening to accommodate a | Symphony,

The next will bring the story of

friend and enemy, and of Pasteur's rivalry with the German scientist, Robert Cook. This series is produced by CBS in conjunction with the Federal Theater Radio Division, ” n ” Elizabeth Wysor, the young contralto, will be guest tonight with the Toronto under Reginald Ste-

round table discussion on “Is This | wart. She will sing arias from the Golden Age of Art?” | Saint-Saens’ “Samson and Delilah” Max Reinhardt, the theatrical | and Meyerbeer's “Le Prophete.” wizard; Richard Hageman, composer | Music by Mozart, Delius and Dukas

and conductor: Basil Rathbone, the | will make up the orchestra's selec= stage and screen actor; Don E, Gil- | tions. The hour concert will be man, NBC vice president, and Mrs. | broadcast by NBC-WIRE at 7 p. m.

” ” » ” " ” THIS EVENING (The Indianapolis Times is not responsible for (nacenracies in orogram ine nouncements caused by station changes after press time.) INDIANAPOLIS INDIANAPOLIS CINCINN AM CHICAGO WFB WIRE 1400 WLW WGN 720 CRS Net. y (NBC- MRS) (NBC MBS) (MBS Net.) ——— —— —— ——— 4:00 Four Notes Pres, Roosevelt Rakov's Or. Rill Anson 4:15 Doris Khodes TY Hanny Gilmans Melodies 4:30 Tea Tunes Tune Twisters Paul Douglas Sophisticated 4:45 “ " Bonnie Stewart Lowell Thomas Orphan Annie 5:00 Christ. Sel. Easy Aces Don Winslow Cal. Rodeo 5:15 Musie Box Varieties Barher-Denton n " ! 5:30 Fleet Review Sports Roh Elson 5:45 News All- Star Prevue " Kain’s Or. 6:00 Men<Denath Rudy Vallee Rudy Vallee Sinfonietta 6:15 " "” ” ” ”» ”» 6:30 Fleet Review hid 4 » 5» Green Hornet 6:15 Boake Carter " " . "» ” " 3:0 © Major “Bowes Toronto Symoh, Symphony Or. Denny's Or. 7:30 oo. rn "- . Field's Or. 7:45 - " " " » Tomorrow's Trikh 8:4 Musieal Fssavs Musie Hall Musie Hall Crosby's Or, 8:15 » ’ » ' " " " " he y " » ” ” a ’ 3:3 At NN ork, ” » " "» Weber ’ or. | 0.00 Sports Amoc-Andy Amos-Andy " " 0:15 Sereenscnons All-Star Game Varieties Carlsen's Or, 2:34 Pendarvis' Or, ” ! County Fair Fields’ Or. 0:1: W iH ' " " " " " 1H:nn News y To P. Sullivan Kvser's Or, 10:15 Long's Or. " " Sweet Adeline oo " 10:30 Jurgen's Or, News Moore's Or, Grier's Or. 10:45 id ty Garber's Or, Garber's Or, ’ " 1:0 Molina's Or. Bailey's Or, Review Danes Or. 11:15 H. Henderson's Or, Dance Or. Redman’s Or, " " 11:30 o id y " Pirra's Or, " " 11:45 Gendron's Or. Hang's Or. " " Unannounced INDIANS Aro] 18 INDIANAPOLIS CINC INNATY case WF 1400 VLW_ 700 WGN 72 (c 8s Net. RS {NBC- MBS) (NBOIMBS) (MBS Net.) 6:30 Early Birds Devotions Organ Musie Box 6:45 " " Market-News Revelers " W 1:00 od " Musical Clock Merrvmakers Good Morning in 15 " " " " Peter Grant Cerolyn Pryce 7:30 " " Nessa Byrd Gosnel Singer Good Morning 7:45 " " News Hollywood News " " BR: Kitty Kelly Mrs. Wiges Betty Crocker Crane-Joyce R:18 Mvrt-Marge Other Wife Pres. Roosvelt " " R:30 Roundup Plain Bill bd '" Melody Parade 8:45 Stepmother Woman in White " " Organ 9:00 Ruth Carhart David Harum » " Get Thin 9:15 Apron Strings Lorenzo Jones Vie-Sade Children 9:30 Big Sister Imogene Pierson Short Story Btate Street 9:45 Real Life Linaa's Love Kitty Keene Painted Dreams 10:00 Tempos Dessa Byrd Edler 3 Daughter Melodies 10:15 Irene Beasley “ " O'Ne dro’s Violin 10.50 Mrs; Farrel) News Be ive atiior ear Ryan 10:45 ’ w Grier's Or. Farm-Home Mail Box 11:00 Bohemians Singing Sam -“ " Melodies 1:15 Welcome N " " ” 11:30 Farm Circle Farm nour Livestock Services | 11:45 Farm Buream Jack-Loretia ud » 12:00 "Melodies Retty<Bob Linda's Love Harold Torner | 12:15 News Grimm's Daughter Grimm's Daughter As You Like 12:30 Navy Band Valiant ady Valiant Lady June Baker 12:45 yo '¥ Betty Crocker Kitty Keene Melody Time Tree “Summer, ‘Theater WIRE Renorter Marvy Marlin Romances 1:15 Headlines Ma Perkins Today's Hilts 1:30 Varieties Varieties Young's Family Pres. Roosevelt 1:45 n " Lid " Guiding Light Leadoft Man - EE ——— EE ——— EE ———— ——————— 2:00 "Revue Backstage Wife Harding's Wife Baseball 2:15 " id Stella Dallas Tidstream 230 Eton Bovs Hughesreel Julia Blake > " 2:45 Feonomies Art Tatum Hatterfields y 40 Crossroads | Hall Police Court Houseboat .“ " 3:15 Ton Halters Singing School h ’ 3:30 When Younes Variety Show Pioneers n a 3:45 What I'd L tke - " Man of Mars 4:00 Light's s Or, Salan Or, Tune Twisters Bill Anson 4:15 ‘art Gordon News Hanpy Gilmans Melodies 4.30 ea Tunes Interviews Paul Douglas Airliners [HLA id " Rhythmaires Lowell Thomas Orphan Annle KEY NETWORK STATIONS (Subject to change): NBC-BLUE-WJZ, 760; WOWO, 1160; WENR-WLS, 870; KWEK, 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 19 Cans for ofl icture 22 Moist. , scientist, WIS HR 0JOIMLIE/D 1 2 rr 11 Afternoon. NIE SRARIRII VIER 1 26 Silver coin of 13 Branches of Persia. learning. 27 Nominal 14 Mooley apple. value, 15 Semidiameters 28 Blaze 16 Butter lump. 29 Before. 17 Data. | 30 He was a 18 To wander. [O| by profession) 20 Ell. W/AD| (pl). 21 Filled with : E[AID|S M]_ 31 Obstructions, slews, S| INES! |G|N|O[R|A cli N| 34 Combats 23 To furnish PlolilsIoIN[OlUlsI™sIPloIRE between twey w ’ 04 one NE: 1 waiters rari. 2 Verbal 35 hereon. .25 Thing. 45 Heathen god. 3 Said. pronoun. 26 Indian cuckeo. 46 Iniquity, 4 Exists. 36 To face. 27 House cat, 47 Pussy. 5 To be 37 Skillet. 28 His native 48 Toward. undecided. 39 Thought,

49 Felt through the senses. 31 Call for help at sea. 9 Russian 52 Pitcher ear. mountains. 53 To make lace. 10 Battering 54 He discovered machine. 46 Eye tumor. a cure for — 11 Breakwater. 47 Policeman, 12 His method of 50 Sound of

land. 30 Vulgar fellow. 31 Clock face. 32 Measure of area, 33 Hour. 34 To mend. 35 Unit. 36 Offensive reek

6 Wine vessel 7 Southeast. 8 Soup bowl,

40 Bound. 41 Money. 42 Preposition? 43 Toilet box. 44 Roman outes garment.

37 Matter. VERTICAL purifying pleasure 38 Sticks in mud. 1 Failing in is in use today 51 Therefore. 40 Sailor. duty, 17 Bronze 52 Pound. TP cp 5.01031 I | 19 14 IA yl’ : 3 2! 28 5 he 6 C7 3 b| 20 4 D0 6 27 50 45 6 3 9 I