Indianapolis Times, Indianapolis, Marion County, 18 July 1938 — Page 13

MONDAY, JULY 18 1938

STOCKS ADVANCE IN SHAKY MART; WHEAT IS STEADY

&»

Turnover at Friday's Pace: Steels and Motors Show Strength.

NEW YORK, July 18 (U. P).— The stock market made an irregular advance today at a pace almost equal to that of last Friday when turnover for the day shares, Industrial shares, notably the steels and motors were strong. |

These issues extended early gains and the market moved up. However, there was some selective sell- | ing in various sections which kept the average down in the first hour. The preferred stock of Crown

Zellerbach paper rose 9 points to a |

new high at 79 and the “A” stock equaled its high on a small advance. New highs were made by Hercules | Powder, Libbey-Owens-Ford, tional Acme and U. S. Pipe & Foundrv. Bulova Watch jumped 3!i points to 32. U. 8. Steel reached 59'i Chrysler 68'i, up 1's; Sears buck 693%, up “sx, and Case 95, up | 115, Allied Chemical lost 3 points and Johns Manville 2 points,

up 1;

Favors National Brokers’ Body

WASHINGTON, July 18 (U. P)). —Chairman William O. Douglas of | the Securities and ®xchange Commission disclosed today that SEC favors creation of a strong national association of counter brokers and dealers in securities. He outlined his views in a letter to Wallace H. Fulton, director of the Investment Bankers Conference, Inc. “We feel that the best form of organization would be a strong national association, truly representative, including the small as well as the large elements in the business,” Douglas wrote.

N. Y. Bonds

BOND PRICE INDEXES 20 20 20 Inds. Rails Utils, 59.1 927.1 58.1 96.7 13.9 93.2 53.1 101.0 0.0 97.2 17.9 81.3

60 Bonds 80. 9.3

Saturday

Month Ago .... | Year Ago . 1938 High

05.3 R25 0.3 U. 8. GOVERNMENT BONDS Treasury Bonds

High 109.26 106.16 102.17 104.2 102.7 Lean Bonds 102.24 102.24 L108 4 106.4 FOREIGN BONDS High 83

Last 109.26 106.16 103.17 104.2 102.7

Low 109.26

1746-44 106.16

A 23,35 1947-45 23,5 1954-51 27a3 1960-35 +5 1963-58 Home Owners 1949-39 1052-44

23,

102.24 106.4

Low Argent 4s 72 Feb } Australia 4's8 56 Austria 7s 37 Brazil 8s 41 Canada 53 52 Canada 87 Cuba B'ss 45 Denmark 415s 82" Cerman 5'2s8 8% 51 >8 54

528

Tal \ Japan 5! Japan Mex 4s Panama 35s 2 DOMESTIC BONDS igh " 3: . 92

TT 3'as at

+| crease of 20.17

| announced today.

Loews Ine 3!: N Y Cen cn 4s 98 ..... Penn RR 458 D 70 .... Rep Stl 4's 58 Tiwe W A Oil 3':s Warner Bro 6s 39 ‘ei, 8 Young 8&T 4s 51 . 8

Curb Stocks

Alum Co Am ... Am Airlines

104% 81'% 100%3

5 10

100%

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Armour & Co Butlar Bros Cent lll PS Chgo Flex shatt Consol Bis Decker & Cohn HoudailleeH B Inl 8tl Co .. Kerlyn Oil A ... Marshall Field Mid West orp Mid! Ut 7 pr lien Process Corp Rollins Hos .... Zenith Radio

CORN AND WHEAT REGION OFFICIAL WEATHER

heBy U. 8. Weather Bureat we. JULY 18, 7 A.

TI State of High Low tation Feather 8 60 02

pref

Shear PiCldy Cloudy Cloudy Cloudy Cloudy Raining

Stations Bend

Cambridge “City. Columbus Vincennes Paoli | Wayne Indianapolis Terre alte Evansville...

Cloudy Cloudy Cloudy Cloudy

FOOD PRICES

CHICAGO, July 18 (U_ P.).Duchess, bushels, $1. 4 ~Tennessee, bushel 1.15, arrots— Illinois, ATR) linois, bushels, a oer Hots. 20-1h, flats, 10@860c. Paulifigwer— Washington, crates, 8. Peas Washington, hampers, $1.85 180 , Celerv—Michigan, highball crates. ii ite ‘ sShions 150-1b. sacks)—Jowa Yellowe, White ax, [email protected]; Oalitornia Fellows, Nal 10,

Apples 11.60, hampbune 40@ 15¢.

was 930,000 | Prices were steady to firm. |

Na- |

Roe- |

the

over-the- |

3.3 |

: Transport planes of Transcontinen-

: | 440 revenue passenger miles in the

: | | period.

BIB BN

» | England

R ! Italy

Raining |

Outside Firmness Helps | Prices as Hedging Burdens Pit Market.

CHICAGO, July 18 (U. P).— Firmness in outside markets held

Low Last

& Straus 40 18'2 “a 17 Allied Stores 111] Amal Leath ... : Am Bank Note. 2 Am Car & PFdv. 25° 5° 25% AmCrysSu 7 m Hide & L .. jce .....

4 B

8! ' 1 3 134 J 6 4 1 1 6

Loco .. Rad & 8 8 Roll Mill .. & Seating n Smelt Woolen A zine Anaconda .. Amour Ill ‘e Atl Refining

Bald Loco ct Barker Bros ..

Yt tt

Blaw-Knox Borden

wheat prices steady on the Chicago | Board of Trade after scattered selling had reduced carlier gains. | At the end of the first hour of trading wheat was up ss to 13. | Corn was unchanged to off 3:, and oats were up 1s to off 1g. | Liverpool closed steady around | previous closing levels while Win- | | nipeg, Minenapolis and Kansas City | showed fractional gains in the first | san of the session, i The decline Chicago was | Ehieense by buying attributed in f part te interests who sold wheat | earlier, Hedge seiling remained a burden on the market.

Crop Reports Favorable

Crop reports were of a generally favorable nature with the progress [of rust not alarming in most sec- | tiona, although parts of the spring [ Ww heat belt were said (o be in need of moisture. Corn weakened on more favorable crop weather with most pressure on | the December delivery, Some export suppori developed in September corn. Only slight export business in corn was reported over the | week- end. Receipts of wheat in | Chicago today were estimated at 659 cars. Cern receipts were placed at 315 cars.

| WAGON WHEAT | City graln elevators are paving for No. 2 red, 57c their merits. | Cash corn 49c. Oats, 23c.

other grades on new No. 2 vellow,

ARGENTINE GRAIN BUENOS AIRES, July 18 (U. | futures opened steadv todav. { July, unquoted; September, | changed Corn—July, unquoted: ber. 61',e, unc hanged, Oats unchanged Flax July, changed; September, $1 30%

P.).—Grain Wheat 77¢, SeptemJuly, 287ac, $1.24 un1, unchanged.

LIVERPOOL, WHEAT

S. equivalents Bised on sterling at 1 Prev, | Close

High July 0. ...3 961, Oct oo 18343 Dec, .83

Close $ 953: § 953; | 837% 84a | 821, 28!

pi) $ 95 837% 81°

C. & N. Ww. ATTACKS |

| |

U. S. RAIL BOARD

WASHINGTON, July 18 (U. P.) — The Chicago & North Western Rail- | Co, in a brief filed with the | { Interstate Commerce Commission, | today attacked administrative practices under the Railway Labor Act. The railroad said that “fantastic interpretations of working rules by ! the National Adjustment Board, ( add to operating costs. The road submitted its brief in | | defense of a plan for its own re- | | organization, attempting to justi- | fy “the limited amount of fixed charges provided under the plan.” The road's proposal contemplates «| annual fixed charges of $3.782.390. including payments toward retire- | ment of debt to the PWA.

AIR TRAVEL INCREASES

NEW YORK, July 18

| Here

way

(U. P)—

tal & Western Airways flew 33.427.-

| first six months of 1938,

per cent

an inover the | corresponding period of 1937, it was

There was a decrease of 1.77 per , cent in the number of pound-miles | of airmail flown in the six-month

"LUMBER HI" HITS NEW HIGH

WASHINGTON, July 18 (U. P.) — | New orders booked by the lumber { industry in the week ended July 9 | were the highest of any week during the past 11 months, the National Lumber Manufacturers’ Association reported today. { —

| Briggs Mfg | Bulova W

| Butte Cop & Z

| Gen

| Gimbel Bros ... | Gobel,

| Houston

| Interlake Ir | Int A

{ Intst D 8.

Borg-Warner .. Bower B Bdgenpt

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Brass ..

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Burlington M -

WARN SBC D

Canada Dry | Can Pacific . | Case J I ‘ Case J 1 pf 11 Gaterpiliar T & 52°

Ce ‘yl Cent "Tr Lt ‘pf. : erro de Pasco oi Ches & i

1 St P&P pf 13; Chi Pneu T .. hrysler Climax Moly Co Cluett Peab Colgate-P-pP Col & Aik Com Solvents Comwlth Edison Cmwith & So . Cong-Nairn “ Cons Aircraft Cons Edison Cons Edison Cons Oil . Cont Bak A ... Cont Bak B ... Cont Can ‘ Cont Oil Del ... ! Corn Prod Crane Co . Crane Co cv Crown Cork Crown Zeller .. Crown Zeller of Crucible oh is 3 Cudahy spit IY Curtiss-Wr A . Derare & oS ‘as Dev & R ‘ Douglas Al . 8 Du Pont ...:. 12408

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ri ight Ex-cell-o

Fairbanks pf air Morse Flintkote Florence Stove Foster Wheel Francisco Sug

i ‘aD Freept-Sulphur. 28'%

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Am Inv Bronze Cable Cigar ..... Electric .

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Ham Watch 44 Harb Walk . Mot .. Homestake Houd-Her B Oil . Howe Sound 47 Hud Bay M&S . : Hud & Man .

Ind Ravon Inland Stl Inspiratn Cop. . gric Harvester . Int Nickel Int P&P pf Int T&T Int T&T

Int For ..

Johns Man

Kelsev Haves A Kefnecott

Lehman L-O-F Glass Loews .

Loft, Ine

| Long Rell 5

Ludlum Stl

‘| High, 1937,

5 | Week Ago

8 | High, | 15 UTILITIES

4 | Saturday

* | Year

2 | Pere Mat

fun T

| DOW-JONES STOCK AVERAGES 30 INDUSTRIALS | Saturday | Week Aro | Month Ago Year Ago | Migh, 1938, 138.53: low, 08.95. 194.10: low, 113.64, 20 RAILROADS Ciisibiatsbeiatiinee 2 27.18 26.61 20.50 53.88 low, 19.00, low, 28.01,

| Saturday

| Month Aro | Year Ago .. High, 1938, 1937,

32.3%: 61.66;

. 3.39 Crseiirsisisaas 2.23

19.36 . 28.85 150 . 19.65. STOCKS

10.0 —0.47

+ 0.82

| Week Ago | Month Ago Ago .. sens 1938, 2.2: 1935,

| High, | High. 10 Saturday Week Ago Month Age Year Ago .. High, 1938, 45.80; High, 1937, 69.67;

sL10, 38.87.

low, low,

—M—

Net High Low Last Change

Marlin Rek .... Marshall Fld .. Masonite Yorp . Maytag Mcintyre Pore McK & Robb | McLellan St

THE INDIANAPOLIS TIMES

Y. STOCKS

By United Press

PAGE 18 |

POWER, LIGHT MOVES TO SAVE ON BOND ISSUE

Refunding of Indebtedness Approved by Public Service Body.

Proposal of the Indianapolis Power & Light Co. to refund $37.500,000 in outstanding first mortgage bonded indebtedness to take advantage of a lower money market was approved today by the Indiana Pub-

0 | lic Service Commission,

According to testimony of company officials the refunding will result in savings to the company in excess of $400,000 annually, The company on July 1, 1937, issued $38,000,000 in first mortgage bonds bearing an annual interest rate of 5 per cent. No provision was made for a sinking fund to re- | tire any portion of the bonds, and the only way the principal indebtedness could be reduced was by

Mengel Mengel 1st pf | Minn Hny : | Minn-Moline Mont Ward | Mullins pf «iii

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| NYG: ‘Omnibus N Y Dock No Am Avn | No Pacific

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| Otis Steel

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| Phelps Dodg ! | Phila Read C I { Phillips Pet ... 4 | Pierce O pf ‘ Postal Tel pf .. | Press Stl Car .. ¢ | Pub Ser 5 pf .. 97 Pure Oil Purity Bak

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U S Steel 59%

ICKES DESIGNATES LAND FOR GRAZING

WASHINGTON, July 18 (U. P). —At the request of livestock men in southwestern Arizona for Federal

grazing regulation, Secretary of the Interior Ickes today issued an or-

public domain in Maricopa and Yuma counties, as a third Arizona grazing district. Combined with Districts 1, 2 and | 4 already established, creation of | the new district brings the total of | Federal range area in the state to [ 9,500,000 acres cut of the 13 million acres of public land in Arizona.

{

CHICAGO PRODUCE

| Butter—Market, 144 gross lbs; 25 25 4¢; 2361 24% ¢ 6lac;

| | { steady: extra firsts 190-911, extras (92 Sores: 25' 5c seconds, 2261 22',¢; specials, standards, 25c; Feentraliged score), 23c; centralized (89 score), 24',c. Eggs— Market, easy; receipts, 9786 cases: storage packed firsts, 21'4c; storage packed 21'2¢; checks, 16¢c; current reSintles, fresh graded cars, than cars, 2lec receipts 17 x KS, 4 geese, 12@r14c: s, 17124r18¢; Leghorn hens aE spring { chickens, 19¢; broilers, 14@17 fryers, 15'>@18p; turkeys, 1261 16¢; FOOSLETS, 13

@ldc, Cheese—Twins, 13% ld se; Longhorus, 1 upplies,

receipts, scor er, firsts

251

wild” cl 14m 14 ae: light on Cobblers, fair on White on Triumphs: market steady and White Rose, slightly weaker on Triumphs; Missouri Cobblers. 85c@8$1; Kansas Cobblers. 75¢; California White Rose, 81. 75; U. S. Commercials, $1.50 1.65; Idaho Bliss I'riumphs, $1. 1041.80; Oregon Bliss Triumphs, #1.70%1.7 garrivals, 08; track, 239;

Daisies, 1434 Potatoes demand Rose, fair on Cobblers

> shipments,

FOREIGN EXCHANGE

NEW YORK, July 1R (U. P.) | exchange easy, Following rates on major currencies Cable Rates «vv 4.92 0-18 . 0.99 15-32 027614

Foreign

Net

(pound) | Canada (dollar) | France (franc) (lira) Bel'wum (belga) Germany (mark) Switzerland, (franc) Holland (guilder) Sweden (krona) Norway (krone) Denmark (krone)

U. S. STATEMENT

WASHINGTON, July 18 (U. P.).—Government expenses and receipts for the current fiscal year through July 15, compared with a JRAF ago: i Expenses .$ 440,676,176.27 $ Receipts 48,032, 806.73 Gross

10, 788. 154.7

INDIANAPOLIS CLEARING HOUSE Cloarings +83. 32 00 Debits .

LOCAL PRODUCE

breed hens, 1l4c; Leghorn hens, llc; heavy breed broilers, 2 Ibs. and over, 13¢; Barred and White Rock springers, 2 Ibs. and over 14c; colored springers, 18 Ibs. and up, 13c; Leghorn broilers, 1'3 ibs. and over, ile; bareback broilers, 9¢; old roosters, 9c. No. 1 strictly fresh country Ay! e ge 17c (each full case must weigh 5) gross. A net deduction of 15 rte for each full case yndel A bs, will lo De gmadel,

Heavy

26'3c. Butterfat-

Lds0- |

Classification of the ({ract | Federal grazing territory also in- | creases to 50 the number of districts cerated under

| brings nearly public land in the West and Southwest under the supervision of the Division of Grazing.

1 XY NO LOCAL ISSUES (By Indianapolis Bond & Share Corp.) The follawing quotations do not repres sent actual s or offerings, but merely indicate the approtimate market level based on buying and selling inquiries or recent HAREACHORY

20c; |

Bi American Loan Co 5'%s 46-51.. 93 Citz Ind Tel (TH) 42s 61 . H Tel & Tel Ft W 525 55 sil H aS rete. Ind Asso Tel we 65. . Int Tel Co 58 6 ah 44 Ind Railway oy 58 97 Interstate ie) & Tel nVs Indpls Water Co 3'2 s 66 Kokomo Water Works 58 Kuhner Pack Co 4s 40 Morris 8 & 10e ores iy 50

are noon cable | Yh

8 Richmond WW 8s 57 - .. Seymour Water Co 58 49. T H Water Works 6s 56 . T H Water Works 6s 49 Trae Term Co 5s 57

Belt RR 8t Yds com .. Belt RR St Yds pid Cent Ind Pwr & bi T° Home T&T Ft W 77% pf xHook Drug Inc com Ind Mich pid 7%. 106 Ind Gen Serv Co 6%. pid. An Ind Hydro Elec T% vid 50 Indpls Gas com Indpls Pwr & Lt 67 Indpls Pwr & Lt 612% pid’. “er Ind Water Co 3% To . xLinc Nat xN In

fees

90 96'a 103

Van Camp Milk Co of . Van Camp Milk Co com. tEx-Dividend

By M. P Crist & Co.»

Market St. Investment Corp.. 24.31

JOIN STUDY COMMITTEE

NEW YORK, July 18 (U. P.).— The appointment of Walter Levenson of Heller & Levenson and James R. Dyer of Dates & Dyer, as alternates to serve on a special committee studying the broadening of the associate membership field of the New York Curb Exchange, has been announced. The committee

Butter--No. nN Talc No. 2, 190. (Prices quoted oy adley Co.)

was appointed last June 7.

der designating six million acres of |

as |

provisions of | | the Taylor Grazing Act of 1934 and | 126 million acres of |

| June Sales

TREND OF DEPARTMENT STORE

on Q

JUNE EACH YEAR

FEDERAL RESERYE BOARD INDEX w Q

ibd 1932 933 1934 1935 1936 1937 W38 THE PARKER CORP. GENERAL DISTRIBUTORS INCORPORATED INVESTORS | | Times Special

| BOSTON, July 18. — Department

| store sales are holding up fairly well

| The Indianapolis | Co. { ment with the Securities and Ex-

| include $32.000,000 first

‘Truck Farmers’

Under the refunding plan, the

, | company will issue and sell $5,500,-

| 000 of serial notes. These notes would bear an interest rate of 4% | per cent and would mature serially over a period of 10 years. The company also would issue and sell $32,000,000 in first mortgage | bonds to bear an interest rate not | to exceed 4 per cent. This interest | rate compares with the 5 per cent | rate provided in the issue to be re- | funded. | The officials testified that under | present conditions of the money | market they might be able to obtain an interest rate on the first | mortgage bonds of 3'4 or 3% per

| cent. 2

The consolidated balance sheet of the company, as of May 31, 1938, | which was introduced at the hearing { July 6, showed the utility carried on its books assets aggregating | $86.584.808.67. Its consolidated in- | come account for the 12 months | ending May 31 showed a gross income of $3.633,061.20 and a net in- | come for the same period | $1.393,511.64. | The commission order provided that proceeds received from the sale of securities should be used solely

for the purpose of discharging the |

outstanding issue of bonds, and that the company should file a report of all sales with the commission, The company’ original petition to

a | refund its debt was filed with the

commission Aug. 21, 1937.

| Company Files With SEC

NEW. YORK, July 18 (U. PP.) .— Power & Light has filed a registration state- | change Commission covering $37.550,000 in bonds and serial notes, it became known over the week-end. The Indianapolis Power issue will mortgage bonds and $5.500,000 serial notes, due Aug. 1, 1939, to 1948. Interest rates will be named in an amendment to the statement.

REDUCE CONTRACTS

FOR CANNING CROPS

Incomes May Be Decreased.

Times Special WASHINGTON, July 18.—Manufacturers have reduced their contracts with truck crops producers this year because of accumulated stocks, the U. S. Bureau of Agricultural Economics reported today. “The reduction,” the Bureau said, “means that farmers who produce truck crops for canning or processing will receive a smaller income.” The carry-over of canned vegetables is the largest vince 1932-33,

although June sales were 12 per cent | undr.a year ago and down 10 per | cent in the first half of this year | from the corresponding period of 1937. Also, sales were down slightly |

trom May, but by less than the seasonal amount, thus sales increased on an adjusted basis. The reports from which the Federal Board index is based cover a total of 510 stores in 241 cities throughout the country.

INVESTING CO.S

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IIR

TI YPFWRIT RS

Reserve |

r DID AW DWADBIWC DORRIT IB

| the Bureau said.

The industry, which occupies more than a million acres, yields an annual income of about 50 mil- | lions to growers, it is reported. A reduction in plantings this | year is expected to reflect the large stocks of canned goods and the relatively low prices received for

year.

New Business Books Available at Library

The following new business books now are available®at the business branch of the IndianRjoljs Public Library: USINESS AND THE ROBINSON. PATMAN LAW: A SYMPOSIUM, ed. by Benjamin Werne. ‘This law is but one of a long succession of Federal antitrust laws designed (0 preserve the competitive system rather than sup Hy it. THE OBLEM OF INTERNATIONAL ROVE ENT, com. by Royal Institute of International Affairs. "The part which international investment might advantageously play in the world economy and the conditions necessary to the fulfillment of this part.’ FORDISM, by Carl Raushenbush. ‘The , principle of authority in in-

dustry MODERN FINE GLASS, by Letone D. Skelly. Modern glass of Europe and America with principal factories in each country and their work described. HOW TO GET THE ORDER, by Harry Simmons, ‘The road to a sale is never clear until the prospect's

d is o ming ch GUIDANCE FOR

CATIONAL, NEGROES, comp. by A manual for all ‘working with Negro youth.

Georgina.

| cows opened steady,

of |

canned vegetables during the past ¥

| $9.50 down:

Porker Prices Up 10 Cents; Top Is $10

$10 top was reached in local hog trade today as values ruled steady to 10 cents higher, according to the Bureau of Agricultural Economics. Weights up to 290 pounds made the dime gain, with 200 to 300-pounders 5 cents up and heavier butchers only steady. Good and choice 200 to 210-pound averages sold at the $10 top. Packing sows were steady to 15 cents higher, mostly from $7.10 to $8.25. The fat cattle market continued along the lines of late last week, all classes of cattle not strictly dry fed selling slowly and weak to lower. The price range is widening daily on grain feds and grassers in both steers and heifers. Hardly enough | steers arrived today to test conditions thoroughly, a few loads of medium and good grade $9 to $10.65.

Vealers Weak

Most heifers showing other than grass feeding ranged from $8 to $9.50, nothing better on hand. Cutter grades of cows are the fastest sellers and fully steady. Grass fat but closed dull and weak. Bulls ruled mostly $6.75 down, a few $7. Vealers cashed at weak rates with

the practical top $9. A few head scored $9.50, but were selected. The cattle run included several hundred | stockers and stock calves of Western and Northwestern origin, Fat lambs sold 25 cents off. Prices appeared at a further discount, but the killing quality dropped below recent standard. Choice ewes and wethers made $9.50, other desirable lambs $9 and $9.25. Culls were sorted out as low as $6.

Barrows and Gills 1140-160) Good and 1160-180) and (180-200) and 1200-2201 Good and 1220-2501 Good 1250-290) Good 1290-350) Good Packing Sows 1275-350) Good 1350-4251 Good (425-5560) Good (275-550) Medium

Slaughter Pigs : (100-140) Good and choice.. edium ; CATTLE —Receipts, 1271— Steers Choice Choice Choice

choice choice. . choice. . choice. . choice. choice... choice. .

3333323

LODWw

hain "nD

(750-900) (900-1100) (1100-13001 (1300-1500) 1750-900) (900-1100) (1100-1300) 11300-1500) (750-1100) (1100-1300) (750-1100)

.e Jo.0a)

a 10, 2 9.25@ 10." 9.25 10 vo [email protected] | Medium 7.75@ 9.25 | Medium 8.00@ 9.50 Common ~(plain).. T7.00@ 8.00 Heifers Heifers— Good Medium Common

Cows

Steers and 1750-900) 1550-900) (550-900)

8.50@ 9.75 7.000 8.75 6.00@ 7.00

All Weights— 100 Medium Common Low cutter and cutters. Bulls Yearlings Excluded (all weights)Good (beef) | (All weights) ‘Medium Cutter and common Vealers (All weights) Choice tAll weights) Good (All weights) Medium

QR San Poa; Sand

6.506 7.25 6.25@ 17.00 5.00@ 6.25

9.00@ 9.50 8.00 9.00 7.00 8. 00

ON THE RADIO

TONIGHT

6:00—Monday Show, WFBM, 6:30—Margaret Speaks, WIRE, 7:00—Orson Welles, WFBM. 8:30—Burns and Allen, WIRE, 10:15—Joe Sander's Orch, WFBM.,

WASHINGTON, July 18 (U. P.). —Radio Station WLW, Cincinnati— the most powerful broadcasting station in the United States—will ask the Federal Communications Commission today to determine whether superpower broadcasting is socially, economically and technically feasible.

Technically, the station will be asking only a renewal of its experimental license to use 500,000 watts of power, All other stations in this country are limited, under ragular commercial licenses, to a maximum of 50,000 watts. Actually, however, will present the

WLW officials results of more

than four years of experimental |

work and attempt to prove, on behalf of itself and at least 30 other stations, that superpower is practical in any part of the country. The superpower issue has been smoldering in the broadcasting ndustry for several years, partly hecause some large stations have desired 500,000-watt facilities and partly because other interests bhelieve that widespread use of superpower would be harmful both to the industry and to the general public.

WLW received its license in April, | 1934, on an experimental basis.

was authorized. however, to broad-

| cast commercial programs using that |

| power. Increasing pressure for settlement of the superpower issue

u 2 ”

! job for

It [4:30 p. m.

{ tone,

crystallized it last February when Commissioner George Henry Payne refused the usual automatic renewal of the experimental license and ordered hearings. WLW protested but the FCC upheld Mr. Payne's action, ” ” ” A conservative estimate seems to be that the three networks spent approximately $30,000 to bring listeners news of Howard Hughes’ dash around the globe. Trans-Atlantic telephone and cable tolls and the high cost of relaying broadcasts across the sea accounted for most of the expense. There were extra network wire charges for broadcasts after the regular closing time. Also the expense of keeping dance musicians on the fill-ins between the fligat pickups. Stevenson's “Treasure Island,” with Orson Wells as the “first per son singular” narrator, will be the second Mercury Theater produc= tion on CBS-WFBM at 7 p. m. to= day. Mr. Welles disclosed in his first broadcast last week (“Dracula”) that his broadcasts are going to be something more than a haphazard chopping down of stage scripts to fit the time limit. He is rewriting his material expressly for radio, and with his customary thor= oughness and artistry. ” ou ” If you are listening for the sec ond part of Schubert's song cycle, “Die Winterreise,” tomorrow, note that the time has been changed to on CBS. rather than [1:30 p. m.. CBS-WFBM. Fritz Lechner, the German bariwill present the cycle’s final 14 songs.

u un s

THIS EVENING

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

INDIANAPOLIS WFBM _ 1230 (CBS Net.)

INDIANAPOLIS WIRE 1400 (NBC-MBS)

CINCINNATI WLW 7

CHICAGO i WG (NBC-MBS)

N 720 (MBS Net.) %

News Bohemians Tea, Tunes

= “3

Rakov's Or, Ensemble

- ws

Middleman’s Or, News

Middleman’s Or. Happy Silman Sport New Lowell Thomas

Bill Anson Penumbra Serenad

e Orphan Annie

WPA Speaker Viewpoint

Audition Book Uncle Ezra

2am | ssan 853 |:

opeve L Boake Carter Basonology Monday Show

Conservatory News

Looking Jn

ARABI yd “DN

Ma rearet Speaks

Popeye Serenade Bob Elson Dukes—Duchess

Don i¥inslow Spor Let's P. Salli

* Celebrate ivan

Burns-Allen Richard Crooks

Contrasts " ”

Lone Ranger

Ensemble Announcing Heidt's Or.

Mercury Theater

”» ” ” ”

=D wow

Century Fight Minstrel Man Mysteries

Crosbv’s Or.

Grier’'s Or. Tomorrow's Trib,

W. Kine’s Or.

Del Casino

Burns-Allen Government " "

Pree® | waa, i : S252

Contented Hour

True-False Minstrel Man ”» ”n

Lobbies “ Melody Pageant

Sports Busse’'s Or. Pick-Pat

Eos SAD

Amos-Andy New

Raseball Farmer's Or.

vows | a. or

Hallett's Or, Grier’s Or.

Amos-Andy Asparagus Club Unannounced Roades’ Or.

News Reichman’s Or, Jurgen’s Or.

Child's Or. Martin's Or,

Paul Sullivan Lucas’ Or, Orchestra

Kyser’s Or, Cuzat’s Or,

Nocturne O'Hare’'s Or, Weem's Or,

Dance Or.

Martin's Or.

Review ” " Thurn’s Or. on ng Pirro’s Or, Pirro’s Or.

TUESDAY PROGRAMS

INDIAN AOL: is WF 1230 (CBS Net.

INDIANAPOLIS WIRE 1400 (NBC-MBS)

CHICAGO WGN _ 720 (MBS Net.)

CINCINNATI (NBC-MBS)

Devotinng Markets

rd wo

Eavly Birds ”» ”»

Organ

Music Box Revelers '" "

Musical Clock

Dessa Rvrd Better Health

Row

ood Morning ean Vv. »

Merrvmakers Peter Grant Gospel Singer Hollywood News

Cull and medium ........... 5.00@ 7.00 Calves —Receipts, (250-400) Choice rood Medium Common

Feeder and Stocker Cattle

823-~

Steers (500-800) Choice (800-1050) Choice (500-800) Good (800-1050) Good (500-1050) Medium Common

PRRDD DQOPPOD

Heifers-— (550-750) Good and choice. mmon, medium

Som AND LAMBS -—Receipts, 796— Spring i

a1 SRaa2> 2 2 S

oD LQuowons

Dron SUNY o

Common Ewes Good and choice 2.75 1.75 CHICAGO, July 18 (U. P.).—Hogs—Receipts, 13,000; directs, 3500; mostly steady to 10c lower on weights 230 Ibs. down; heavier Jeers slow, 15@25¢c lower; top, $10.15; bulk good and choice 170-230 1bs., $9.85 10.10; 240-270 1bs., [email protected]; 280325 lbs., $8.60@9; good iight packing sows, $7.75@8 zanedium weight and heavy kinds, $6.50@ 7. Vk i ST 12,000; 2000; fairly active early market strictly choice and prime steers going on order buyer account, these selling at $1212. 85. extreme top, $12.75; all other grades and representative weights very dull; closing market not very lively on toppy Kinds; rank and file steer crop weak to 25¢ lower; mostly 10@15c down; fed heifers steady, best, $11, supply small, but grassy and short fed heifers dull and weak; all grades cows steady: mainly native and Southwestern grassers; cutters $5.50 down to $4.25; weighty sausage bulls firm, $7 top; vealers scarce an steady at $10 down; Southwestern bred stock calves

calves, on

= | ow

Kitty Kelly Myrt-Marge Melodies Stepmother

-d g

Mrs. Wiges

Woman in White

Hymns Myrt-Marge Hilltop House Bettv-Bob

Crane-Joyce

Melody Parade Dr. Friendly

Milky Way Anron Strings Big Sister Real Life

TOD | MPWR | aaa | BD

a= Sad | x3

David Harum Lorenzo Jones Jerry Shelton Linda's Love

Goldheres Vic-Sade Dr. Friendly Road of Life

Get Thin Children Painted Dreams Harold Turner

Tempo Irene Beasley Mrs, Farrell

Dessa Byrd

News : Piano Musie

Pojto 2 O'Ne No Weather Farm-Home

Daughter

Mother Contrasts

Bohemians

Farm Circle Farm Bureau

Singing Sam Three Romeos Farm-Home

” ”» ”» ”»

Live Stocks Care of Baby

Melodies Mayine Band

hh | |

Bettv-Bob Grimm's Girl Valiant Lady Hymns

Linda's Love Grimm's Girl Vaiiant Lady Kitty Keene

J Shield’s or.

Rhythm

River Bovs Marty Dale

WIRE Reporter Headlines Varjeties

Mary Marlin Ma Perkins Pepper Young Guiding Light

Memory Lane

Musical Moods Leadoff Man

Health Hithways Na Yvan Obligat . Lorraine Lyrics

IDI | ek fd pk

Backstage Wife Stella Dallas Huchsreel Outlaws

Harding’s Wife Midstream

Hattertields

Baseball "

Chamber Or, Let's Pretend

Police Court Top Hatters Master Singers

Houseboat Singing School Unannounced

” ” ” ”» ” ”» » "”

fairly active at $9.25 down, Sheep—Receipts, 12,000; 3500 directs: spring lamb: opening fairly active, 15% 25¢ lower; opening sales rangers $9.15 | 9.25, best held higher; bils and sales na- | tive springers downward from $9: nothing done on yeaLings; sheep, steady; native ewes, $3@3 FT. WAYNE, Sy 18 Market 10 to 20 cents higher; $10; 180-200 Ibs. $9.95; 160-180 220-240 lbs., $9.70: 240-260 Ibs. : 280 lbs., $9.30: 280-300 lbs.. $9.0

(U. P.).—Hogs— | 200- 220, Tos. |

53 300-32F , $8.80; 325-350 lbs., $8.70; i%: 160 1bs., 70; 120-140 1bs., 33 20; 100-120 lbs,, $8. 95. Roughs, $7; sta $6. calves, $9.50; lambs, $8.75; PAT ‘lambs, 4 LAFAYETTE--Julv 18 (U, Market, Sake IRher, 150- 200 5X ® 60 @ 9.80: 200-240 $9.55@10. 240-270 Ibs., $0.156 0.45; 0 Peis lbs., $8.f 50@9, pigs, roughs, $7.50 down

Calves, [email protected]. Lambs, $8.50@0.

NEON SIGNS

and

SERVICE

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

NEEDS A SAFE DEPOSIT BOX

ALL sizes MODERATE RATES

Qo TAMERICAN NATIONAL BANK

Southeast Corner 3 PENNSYLVANIA & MARKET STREETS

FOUR FOR

on age 30.).

FOR EACH DOLLAR PER WEEK you're willing to save NOW, You'll RECEIVE $400 PER WEEK in return at age 65. Comparatively favorable returns at other ages. you die before 65 your family will receive a Monthly Income. It will pay you to investigate a “Self-Pensioning Plan” with—

THE INDIANAPOLIS LIFE INSURANCE COMPANY

Edward B. Raub, President fa

ONE AT 65

(Based If

Indigo

Man of Mars

Barry Wood Health Talk Tea, Lunes

Sabin’s Or. New: Johnnie Nola Day

- 5373 | 53%

Johnson

Sabin’s Or. Happy Gilmans Paul Douglas Lowell Thomas

Rill Anson Airliners "” »

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; WJR, 750; WHAS, 820;

KMOX, 1090; WBBM, 776.

MUTUAL—WOR, 710; WHK, 1390; WHKC, 640; CKLW, 1030; WSM, 650.

CROSSWORD PUZZLE

HORIZONTAL 1, 5 Pictured war nurse. 10 Carbonated drink. 11 Arabian. 12 Departed. 14 Anything very [TA minute, TT 16 Bronze. 17 Pair. 18 Sloths. 20 Credit. 21 Point. 22 Snaky fish. 24 Negative. 44 Excavated, 25 Second note. 46 Male .cat. 26 More painful. 48 Away. B80 Note in scale. 49 Pronoun. 32 To combine, 50 Deep purple 34 Merriment, _ color. 35 Disclosed. 52 One who lends 36 One. who v4 Genus of frogs makes a pube 55 Compound lic manifesta« ether. tion. 56 Hence. 39 Sound of 58 She was an inquiry. — Oman, 41 Gibbon. 59 She cared for 42 Indian. — Soldiers 43 Myself. in Belgium.

D ¥ |

JOHN

Answer. to Previous Puzzle

Sy L ENP TIRIAIL|T

13 Child.

15 Wrath. 16 She Was wees) of being a war spy. 0 She was killed by enemy * ne Gy 21 Flower leaf) 23 Extensive plain. 25 Brink. 27 Away. l 28 Regretted.') 29 Being. 31 Work of skill] 33 Growing out. ( 35 Bandmaster's)| stick. 37 Ketones. 38 Bullfighter, 40 Mortal. 43 To mingle. 45 Saucerlike bell. 47 To smash, 48 Soared. 49 Flock. 51 Split pea. 53 Lair. 54 Musical note) 57 Alleged forces

N T A

VERTICAL 1 Electric unit. ‘2 Dowry. 3 Part of Roman month. 4 Light brown. 5 Person who lives in a camp. 6 Mover’s truck. 7 Assam silkworm. 8 Thin plate. 9 Pound.

6 YY 1? ll