Indianapolis Times, Indianapolis, Marion County, 11 August 1938 — Page 19

‘0

THURSDAY, AUG. 11,

1938

10 ; ; RENTS ARE NOW FALLING OFF ‘ MORE THAN BUILDING COSTS Fractional Losses Follow. Upturn; Some Shares Off ‘3 Points. : : Starman foastenry THE PARKER CORP. GENERAL INCORPORATED NEW YORK, Aug. 11 (U. P).— zi Soeoial Stoc turn mes Specia Sh Yo Jr ed Sows SEA IOTRTY oe BOSTON, Mass., Aug. 11.—The trend of rents follows-very closely after a hig sin ae on 8Y | that of general business. The decline in rents since last. fall is thereExceptions to oe tional de- | fore natural. Building costs have held very steady during the past year, having dropped only about 1% per cent. When building costs cline included Atlas Powder 54, off le find it cheaper 3; Air Reduction 59%, off 2%; Al-| are relatively high and rents relatively low most people cheape lied Chemical 177, off 2; Market St.| to rent than to buy or build, therefore building tends to drop. ResiRailway 11, off 3; Philip Morris | dential building is stimulated when building costs remain steady or 120%, off 2%; Union Pacific 88, off | decline while rents are on the up trend. Good business this fall, as 37%: Union Carbide 803, off 23%:| many anticipate, should start rents on the, up trend and thus spur U. et, preferted, 8a. ge : residential building. . an estinghouse Electric 8, Off | is. Chrysler touched 73%, up 1%, 7 / 5 S and then declined to 71%, coming back to the previous close around noon. General Motors lost an early 3+ United: Press gain of i point. Bailroad . lin Nel DOW-JONES STOCK AVERAGES shares softene ollowing tia A on ; : 30 INDUS ‘RIALS firmness. Coppers and utilities re- Addressograph i lvedontny 142.40 —0.51 treated fractionally. Al Cp pf $30 w. JIN 134 12% + JA) Week Ag en 142.13 —0.40 | t. . Ya } = Japanese Bonds Climb a ‘Chem L170 179 7 .... | Month Age ........i.ecceens 135.81 -1.00 iting Allied Stores 11% 11% 11% + % | Year Ago ............. ...- 187.62 0.90 Meanwhile, truce in the Russo- Alis Chal cere Fite 31% 5 1 High, 1938, 145.67; low, 98.95. Japanese undeclared war brought | am Beak N .. 19% 19% 18% + % | High, 1937, 194.40; sow, 113.64. strength. in Japanese dollar bonds. |Am C +. 3008 324 32% ou 20 RAILROADS Gains in these issues ranged to|Am Wferas pf . 3573 35% 35% 4% | Yesterday .. ............... 20.56 —0.24 more than 3 points. Most other | Am Roll Mill .. 20% 20% 20% + 1a | Week AZO ............c...eo 28.16 +0.11 foreign funds showed fractional | AM Safe Razor 19% 18% 19% + 1s Month Age ...........coo.. 26.81 —0.31 improvement. Am Snuff a 5512 554 354 T x Year Ago ...........c0 : on 58.57 +0.5% U. S. Government loans moved | 42 $i Fdies EE 2| High, 1938, 32.33; law, 19.00. . : m mat . 19% 19%. 19%2 + 3% i into new high ground for the year.[|Am T & T 14212 142%; 1421; — 3 | High, 1937, 64.46; sow, 28.91. Gains ranged: to 5-32 int Am Water W. 10% 10%2 10%, + Y% : 135 UTILITIES S : : Jone. Am Woolen pf. 40% 40% 4% ..--. | yesterday ........ .......l. 20.30 —0.18 Utilities were firm in a mixed do- | Anacords ..... Ye H.-N, +P 18 +0.10 mestic corporate list. Rails were ir- | ABChor H Gl .- 20% 20% 300% + # Week Ate an oi Jon : Ire an 2 / 2 Month Ago .. .....ce0c0cvie o h regular. Industrial obligations were | Armour Ii ... 6 61a 8% + Ia ki re " 20.03 40.07 narrowly mixed. Asso Droy G 10% 10% 10% oe 3 CT LE Ce Atchison ...... 72 37% 31a + 1s High, 1938, 22.55; low, 15.14. ay ee, same time curb stocks 4 § Refnine se 33 25 230 — %| High, 1937, 37.54; low, 19.65. med under leadership of industrial | Teisy sm “an Ay issues. Gains of miore than a point Aviation a Corp « 4% WN .... 2 Low Last Ob aus were noted in the industrial group. pe Pore 2 461s 4612 ... Advances in other sections * wers 2 Asghait nl nn one LB Heh: ads 34% 343 confined to fractions. Bendix Awa... 23 33 3 + Ya of.. 2094 20% 20% — '% Among industrials such shares as | Be} Ind L wlan a 18% oo ee NE Aluminum Limited, Aluminum Co. |Bosing Air .... 28% 28% 28% + 7 a 28s hi + i of America and Jones & Laughlin | Borden .-.-.-- iin Ifa in — 1 iT deve ass sas Td Steel rose up more than a point |Briggs Mfg ....34% 34% 34% 1 5 Mh 2 + 8 each, while McWilliams Dredge, | Bristol My... z Ml hk Ma rp Bo : y 0) 4 74 —N— Carrier Corp. and Sherwin-Williams | Byers, A M .. 13 13 12 + %| yun gel 10% 10% 10% + % swung forward for gains to % point. Ce Hat Bisouit oo. HM Pi 3, T 2 % 1 .... (Nat barry ..... 7 78 Early activity in aviation shares SR Ny 3s pe Us oo, Nat Distillers .. 25% 25% 25% + 2 continued. Canada Dry .. 19% 19% 19% + Ya [Nat Lead _..... B% 2% Bh... Oil shares were irregular and |Can Pac ...... 6% 6% 6% — Y |Nat Sup Penn RB Di oT in ining issue i Celanese ...... 247% 24% 24% + Ya NX Central 31 3p avon fnng $ easier. elotex .....-. 3° 23° 28 — 3; |NYC&SIL of ... oN RT Cent Foundry . 4% 4% 4% + % |NYC Omnibus 3% 5 BN Cerro de Pasco. 461, 46% 468% + % No Amer og 21 85 88° I 'y Curb Stock Chi 1G West R 1% 31% 30%. INGAmAwn 13% 13 13% + % es 4 7 eens 8, ur oC S Chrysler ..... y nt wh MW Lik Cluett Peab ... 23 23. 23 + Ya | ohio Oil ...... 11% 10% 11 + Ya Aero Sup B Colgate P-P 12% 12% 12% V4 | Otis Elev 24 24 + Bn Alum Co Am Eo & a eee 8 3¢ 8 + % | Owens IN Glass % 70 70. Am cian B.C Com reds Il 4B 49% 49% il. Tw y Ei Som Bll ME BND lmao LY C vents .. ran “es ly + 4 Am Soper™ Cons Edison ... 21% 31% 21% + Y |Bark Utah i 3h 3% + 4 Ark N Gas........ oes Colle Fup pl... 814 84 Sh =n Pathe mim or Lo 10, lew I 3 on Textile as 8 ( NN SRR we ad ¥ow EER IAN gE an Bath r Ont 0S han o sa Mn (RRC RL dhe Hw hw T 3 della; A Crane Co ...... 35% 35 35% + 1% 2 gh — a : Cra Delior 13% 13% 13% 1 %|Dhelvs Dodp .. 31 3a 34 — 4 E20 Marton Curtis Pub 8% 8% 8% + Ya|phj Morris ... 123 128 123° + % ty Cf re A R7 wn 1 |Ehme re. ay dn 4% 1), ; 9.4 / ’ s Sc . 3 8 78 8 Childs pf ....ccovceasins Pom Plymouth Oil 24 24 24 eed Cities Service . , ublic Serv 30 0 - 30 RE Coro aa. 2 Bosieen Shem Jour Mh Bon |pwe'ofi lw Hx HX 1% Con Cop Mrs Diam T Mot .. 10 = 10 10 — x Pure » ising > per S Dome Mines ... 3 Va 3 Va 33a 3 : = - E Baa on rot Bouslas Air +30 thon ‘ius El wee De oh ty For &L op vis Du Pont ...... 128%; 128Y 128% — % Radio X J eis ne Be os © + 2 For t aE ayonfer of . %s % a — Ja : ’ Ye 169 v, Jumble oi 0 Fititgon Sob ... 4% 4% ay, 4 ypom Send... 10%" 10h ge rr Int; rol". .... 26 Elec Auto L ... 27% 27% 27% + % Republic Stl... 19Y, 19 Su Jones & Lau LL } Bice Boat. a OF 2p Di oo: [Revere Coo ...15% 15%. I5% + 7% CC & 5 Ve 7 Ya 2 ees Ee L . : : L $7 pf. 40% 40% 40% + 1% ; Cocsheed Stze oa la 13% anh Elec omar . 30% 4 0% 30% +5 Sears Roebuck. 73 13% Te — % y | BITIC ...cccencne ..ss | S€rVEe: ANC --.... 74 7/4 sense Dray ~-oeeee Bl 8% BW pail Il 18 16 16 ¥ '%|Shell Un Oil .. in 1% 1% Ln 1 Foy AR Shea eee AE Te eG RT BE LCT] Ad BRERA AY Lu ce a ont Tab oii iaeE 1808 150% a as win oT RE MRE ag H POTEr ..ocoees Ts 73, 73 Fair Morse eee 3% 313% 373% + t! ets. 17% 173%, 1 Ja rr pitts Pl Gl 00 99%a 100 4 | Fed Mot ....... 5% 5% 5% — Ya|Socony Vac 15% 15% 18% + ! Tq Lraana ens 3 { 1. | Flinkote ....... 3 23% 23 + %a2|So Por R Sug . 20% 20% 20% — % herwin W ......... 108% 108% 108Y; ¢ 3 Sherwin W Df ..ovees 113% 113% 1139, | Foster Wheel .. 19% 19% 19% — % | South Pac 20 19% 19% + d Oil KY .......s.... 179 11% 17i4 | Freept Sulphur. 31 31 17 + %|Seuth Ry 0... Bw 13% mr x Std Oil Ohio ..uveeress 22° 22° 22° i e ; . Cc 134. UH Hu. 1 oY eer pa 2% 2% 2% Gair Robt ..... Wh 4% A% + hey GO lew len 1am 1.0 Tohnicolor rarer 24" 939 oo | GenCizar oo 24% ,24'2 — Ya | Spiegel Inc 13% 13% 13% + % RET Re 4 3% 233 | Gen Cigar pf.. 121 121 + 1% | Std Brands 8% 8 8% + % Wright Harg .......... 7% 1 775 | Sen Eletiric, aw ase aaa 0 BH Sut 1 Bi hn on ———— ’ e 1118 eee 5 of seve : Gen Motors ; 3} Ja hn + % for} sored i 0 8 sees en Foods PF Studebaker /4 /4 A vit N. Y. Bonds [8535 3, 4 4, © 5|gmeo 0 48 40 op ; ig ... , 2 22Y% + Y | Suth Pap_ ..... { bg — VY : : Gen Riva. dn i a ty with & Co... 18% 18% 18% — je BOND PRICE INDEXES [Gillette's ® , 18% 18% + % | Syming Go : 20 20 20 60 Gimbel Bros os 15 13% 134 = Texas Cor my TG Indus. Rails Util. Bonds | Goodrich pf ... 58s 58's 58% + % Tex Guit Brod: 0.4% ah Yesterday ..... 564 G3 83 sisitioodyesr ...... 2% 2% Hl 4% IFC 0 -- Be By By T° Week ago ..... 85.9 61.1 98.2 8LY|gGom “4% “4% 4% + | Thermoid a 47 4% 4% + % Moth qo. hl S54 967 opa|iamamEes .. 43% “fh 0% + Va STN A Of 1% 1% 14% + Year ago ...... 92.0 91.4 .1020 951|Ct North prilll 23, 223% 23% x 'W|T W A Oil pf 960. 9012 858 — : " at Nor Ore ... 13% 13% 13% — 1, | Transamerica . 10% 10% 10% .... Two years ago. 91.7 96.0 105.6 91.7 West Sug .. 2673 26% 26% — Ya|Twin Coach ... 11% 11% 1% +" % 1938 high ..... 86.5 70.0 98.5 92.8 Set op 1TW 1, + % —— 1938 low ...... 74.9 9 813 70.5 wrBlen Union B & P.. 14% 14la 14a + % 1937 high ..... 95.0 101.2 106.0 100.7 | Harb- iy ... 30% 30% 30% - 9% |Union Carb ... 832 82's 82% — % : ‘| Hat corp ...... 8% 6 ~6l2 + 1a|Un Pacific .... 91 90} 902 — 1% 087 HOW. + rpues 80.1 69.3 923 SLE|Holiand Furn .. 46 43% 46 i |Un Alrcraft Cp. 28% 28s Wh + J 1936 high ..... 94.8 100.4 106.2 100.2 | Houd-Her B ... 15 15 15 + Y% | Un Air Lines .. 9a 2a 4) + 1g 1936 low ...... 90.0 847 103.5 93.3 | Hupp Motor ... 1 1 1 ~~ %WiUnited Quen SE Sn dn (Copyright, 1938, Standard Statistics Co.). nd Ray a dy meg Coy Tie 774 1 + a U. 8. GOVERNMENT BONDS _, ngersoll. Rand. sed sess saa =v | UR Gaperna 40 Whe Hn Tp Treasury Bonds ; Inspiratn Cop . 16% 1614 16is + 5 5 S Pe 24 2 a iy High Low - Last |Intercon Rub .. 2h 4% ata — %|USHofmal bt oa at Ta es 1045-43 oo. 10935 100.35 109.23 Dlerlake Ie Ris Ble + Bind midle y 20%, 20% 0% + Jas 45 18 “106.18 106.18 2: a x 11, | US Pipe&P ... Vg 2s 2998. 2urerrornss 305.31 108.31 103.31 Int Pickel ..... 497% $52 4b +1 {U8 FIBebY ... (os 8 6.1 i 1 a P& cies ena 10 Va 10 4 10, he 78 1 1, 1, 3Vs 1949-46 ....0.... 108.24 108.24 108.24 i i i % {US Rub 1pt... 81 Ve 90 91% + 1Va i Int P&P pf 437; 43%2 43% + 1% | US y 4¥s 1952-47 .11.1000 119.5 118.30 1195 | Int Tat ©. L 9 8% 9° + %|US Stel... 0% 60 60 + 3ias 192-43 vevashesy 108.21 108.21 108.21 | Int T&T For .. 9% 9% 9% .... |U S Stee 19f +31 1% Ul% 11% + AL 27es 1960-58 ....l01'Tos do 10430 1040 — Ke Ut pT. — - Pera Farm Moitgage Bonds Ronnscobt % $e $B. Bn TX 3 vansaum ..... 20% 20% 20% += 1% Sas oaae3 ceerrenst 1052 Js 1062 Rioger G&B .. 1714 1112 17% —W— ; 3s 1949-44 ......... 106.13 106.13 106.13 3 do ” 5 wh . Walworth ...... 8% 8% 4 +h h V Coal . 8 a Ya s» | Warner Bros .. 62 6% Home Owners Loan Bonds Leh Val RR 517 51a 5% — Y.| Warren Br .... 33% 3% 3% .... 2%s 1049-39 ......... 10223 102.23 102.23 | Lehman -_..... 27% 21% 21% + 3s | Waukesha Moi. 20% 20% 20% . Tn S “ — id FOREIGN BORDS ISO Glass. 48% 481, 48% + 1 | Wes Union... 30% 30% 30% + High Low Last | Life Savers 332 33%2 33%: +4 2 | west Air Bke 26% 26 28% + Ya Australia 4%s 56 ...... 101 101 101 7S Led ven 40% 49% 49% .... | westing El 102%4 102% 102% — Y Brazil 8s 41 ............ 16% 16 16% | Lorillard _..... | M0% 00 20% 4% sn 1h i et = Canada 3s 3 seeesenane 20% 993% 0% Lorillard of . 139 139 139 cess White SS Dent. 13% 3 13 — 2 regvavare 1 —M— White Mot .... 14% 14% 14% + % Denmark 6s 42 ......... 105'2 1052 105% : — 1, | willy Overind. 2V 21) ay French F184] riences: 106%s 106% 108 [Macy RH -.... 4 46 48 = 12|wooaward Iron. 20% 20% 20% + 1% Japan > 128 ar 85 85 65 Marine . 51% 51% 51, — V3 | Woolworth ..... 47% 47% 47% .... Mex 4s 10 sm-as +... .. 0% 50, 50% | Mik St R or pf 13% 13% 13% — | Worthington ...31 21 21 + Parana Shen ba." 3% gs Val Marshall Fid .. 13% 13% 13% + Z| Yellow Tr ...... 20% 20 20 + % Tokyo las 61... 1." 43% 43v | oy, | Mauna’... Be Bn BH, © LiTowaShe...8 8B +B PPR y ay EP /4 a ‘ —— DE TI BOD ow Last tly ve A AE Vigonte 3% 3% 3% — % 1 | a wl rier fi 99% 99% an Pac 5's 60 ....... 93 93 x ceasiiiof fa 2. BANK CLEARINGS DIP |SEEKS NEW OUTLET ur Qu 5s 71 ...... 93 23 NW 4%s 49cv ..... 6 v a ! SERS Eh A FOR U. S. PRODUCTS cerews Z 114 1/, . en ny 981% 99% 9912 LOWEST SIN E APRIL . Mead Corp 8s Asww ..--104 © 104 104 y che? WASHINGTON, Aug. 11 (U.P) .— ohn RR Shs 53 1 ana gna 3A President Warren Lee Pierson of the Stan Ol | NJ 35681 ...0 102% 102% 102% . : . : Export-Import Bank, it was learned Werner Bro 6s 3 11111 18 s0" ‘a0 | National Total 18.2 Per Cent | today, will leave Miami Saturday for YT. 4 ug B | 1937 ‘Figure a two-month Soup ” South Ametica eiow . seek new outle or American Chicago Stocks goo. : The trip is part of a movement by High Low Last NEW YORK, Aug. 11 (U. P.).— | the bank to help American exporters Allied Lab Ine zrivsives uz Uz 11% Bank clearings in the week ended | meet the competition of European Borg-Warner .......... 3 82 An Aug. 10 receded sharply from the | businessmen who get aid from their Chicago. Corn. cv bil ahi 4318 8% | preceding week to lowest level for | Governments for sales in South Cities Serv. 8% ‘8%. ‘a7 |any full week since April 13, Dun | America. The bank is a Federal Soudailet 13 15 | & “Bradstreet, Inc., reported today. | agency supported by Reconstruction Hubbell H 3° ih 13 jarvis WB 18% 18% | Total clearings for 22 leading Finance Corp. funds, Libby McN&L ... fst 2{4|cities in the United States shrank j Mid ‘West Corp 8% . 6% | to $4,119,056,000 for the latest week, : Honig 0 148 “la drop of 182 per cent from the ALLEGHENY-LUDLUM ! o W Ut 2 42 | corresponding 1937 period's total : f Rayth 1 1 : Rae 3¢¢ 3 |in the preceding week turnover de- MERGER ANNOUNCED Thompson JR 132 3% |Clined 17.1 per cent from a Year| oo .opunGH, Aug, 11 (U.P). i wr —— a, ago. mle Among Midwest cities’ losses are: | Approval by stockholders of both | FOOD PRICE DECLINE |cievetand, 16s t; Cincin- | Companies of a merger of Allegheny ! eveland, 8 per cent; Cinc A y 1 nati, 12.6: Chi 953: Detroit, Steel Co. and Ludlum Steel Co. was 2 CENTS DURING WEEK Ginny T280; + #993 Oi | announced here today by W.F. Det- , 24.7, and St. Louis, 6.7 per cent. wiler, Allegheny Steel president. y oo. , presid : Mr. Detwiler and Hiland 1 NEW YORK, Aug. 11 (U. P)—| DAILY PRICE INDEX |Batcheller, Ludlum president, willl Dun & Bradstreet’s weekly index NEW YO be chairman. and president, reof 31 basic food commodities in the RK, Aug 11 (U. P).—| spectively, of the new corporation, week ended Aug. 6 declined 2 cents | Dun & Bradstreet’s daily weighted | which will be known as Alleghenyto $2.44, the company reported to- price index of 30 basic commodities, Liddlum Steel. Corp. oh day. | compiled for United Press (1930-32 et —————— The. index stood at $2.90 in the | equals 100): SUBMITS PAYMENT PLAN © corresponding 1937 week. Cocoa | Yesterday sesesrsanessennnene 103.67 | _ Rjo DE JANEIRO, Aug. 11 a. and coffee registered increases Week 880 s..civeaensosasses 104.64 | P). —President Va s submitted to hid 1 heat, ort, rye, oats, Month ago sesaisesans ink the odio id Mek on. :

WHEAT AND CORN

+ (OFF MORE THAN

CENT IN CHICAGO|

Prices Steady After Losses

Reflect Liverpool Dip, Crop Estimate.

CHICAGO; Aug. 11 (. P.) —Fol-}

lowing the opening decline wheat prices steadied around a cent below previous closing levels on the Chicago Board of Trade today. ; At the ‘end of the first hour of trading wheat was off 1% to 1%, corn was off 1 to 1%, and oats were 1% to % lower. The weak Liverpool market and the bearish effect of the higher Government crop estimate were discouraging factors. Liverpool wheat closed % to 1 cent lower. Winnipeg was about a cent lower at the end of the first hour, and outside U. S. markets showed declines ranging around a cent a bushel. Additional selling of wheat came in to the market when the break of 21; cents in the Buenos Aires mar‘ket was reported. Prices eased another 1% cent under scattered sales, some of which were by terests. > Export sales of U. S. wheat was reported to be small early today. Receipts of wheat in Chicago were estimated at 83 cars, of corn 172 cars. Corn prices sagged despite liberal buying by export interests which was said to amount to about half a million bushels. December and May corn touched new seasonal and fiveyear lows on the decline.

WAGON WHEAT

sin elevators are payin ng for No. other grades on their Jnerits. Bash oi ‘new No. 2 yellow 48¢c. Oats, 20c

LIVERPOOL WHEAT U. 8. lL Based on Sterli NE Prev.

7s) High Low Close close Oct. ...ciivus $.79% § .718% $ 187 $ .19% Dee... ie 6% i5% 5% 16% March ...... Je 74Ys 4Ys + J15

UTILITY VALUES DIP 12 MILLIONS

Assessed Worth of Indiana’s Steam Roads Shows Largest Decline.

Assessed valuation of utilities operating in Indiana has been fixed by

the State Tax Board at $647,899,181 for 1938, compared to $660,347,460 last year, a decrease of $12,448,279. There was a gross valuation decrease of $13,682,706 and an increase in four types of utilities of $1,234,427, making a net decrease for all utilities of $12,448,279. Steam - railroad properties accounted for $11,379,661 of the valuation decrease. Pipeline com nies, municipal utilities, car: equipment companies and rural electrification corporations showed a. valuation in-: crease.

Utilities’: Values Listed Assessments this year include:

Railroads, $297,046,902, a decrease | Ewes—

of 3.69 per cent; electric interurban lines, $5,299,957, down 9.16 per cent; telephone properties, $79,074,007,

down 1.10 per cent; telegraph com- | 220

panies, $5,789,602, down 11.76 per cent and privately owned public wiilities, $213,757,290, down .097 per cent.

BANK STOCKS

: Net Bid Ask Change 17% 48

Bank of Aeris s seeeies 49 Bk Manhattan

Bankers Trust . Brklyn

tesessssensese

Shemical

ciessevens sees

Mr oaIacturers vesssnrses 39 141 ". ... National City Publ Y hs wsieais ete

u. ‘S. STATEMENT

WASHINGTON, Aug. 11 (U. 2) gor. or e current fiscal year through Aug. 9, compared with a year ago:

ernment expenses and receipts

s Year Last Year .$1 ,040, 319, 411.39 $931,469,493.35 Receipts .. 599,306,537.54 635,527.035.47 Gross def . 441,012,873.75 295,942,457.8 Net def ... 440,895,473.75 = 295,911, 88 Cash bal | 224257:060.21 2,835,885,090.81 Work, ‘bal. 1,648,929,858.32 1,064,178,796.8 Publ. door. 3 1290, 23, 678.72 36.826,653,243.8 Gold I -13,030,333.373. is 12, 192. 273, 1s. 62 Custo 31, 106 6.611.88 53

+ INDIANAPOLIS CLEARING HOUSE

Clearings Th Nas asm risa unten $2,591,000 Debits . 5,956,000

FOREIGN EXCHANGE Aug. 11 (U. P.).—Foreign

X exchange easy. Fo loving are noon cable rates on major surrencies; 3 a

THE INDIANAPOLIS

in- | 4

—tp

Light Receipts Curtail Slump In Hog. Prices

The downward trénd in hog sige was halted here today under gurtailed marketings, the Bureau of reported.

to lower again. At generally steady

| prices locally, demand continued

limited, and clearance was again doubtful. Top held at $8.65 for good and choice 220 to 230-pound weights. Local killers were light takers of cdttle all week and prices on the week-end trade ruled strong to a skade higher. The action was improved throughout although trade interests were not raised by this display of demand, no encouragement having been drawn from dressed markets. A car of high quality 894-pound yearlings in good to choice flesh made $10.50. Vealers held at yesterdays late prices, a few selects selling at $11 and the practical top $10.50. Good and choice ewe and wether spring lambs bulked at $8.50 to $9 in a steady affair in that section. Common and medium grades were quoted at $6 to $7.50.

3.60 4486 9.50 5406 9.50 1500, . 925 8833 . 9.00 8137 ‘8.65 5770 8.65 3966 (140-1 and choice §$ 7.000 8.30 (160-180) Good and choice . 7.50@ 8.40 {150-300 ) Good and choice.. 8.35@ 8.55 a. ) Guod and choice.. 8.50@ 8.65 aan) Goud A ico. 130 tas (190-350 ) Good and choice . 1236 8.03 gh 0 Medium esasss ens 6.15@ 1.25 fis a Sodan $306 8.50 sie) Good Leni 5.50@ 6.75 6.50@ 17.25 HR oon ana voce. 4309 122 CATTLE —Receipts, 606— Steers 750-1100) Choice [email protected] 11 Choice [email protected] (1100-1300) cice . [email protected] (1300-1500) Choice [email protected] 1 esessessssnse 8.15010 1 11900 9.90 1035 {110e-1 } [email protected] (750-1100 7.50@ 9.00 (1100-1300) Medium 1.715@ 9.50 (750-1100) Common {plain} .. 6.25@ 7.50 Heifers j= UM cecocccass o 4 ial Common ..... sess BI5 7.00 All Weights— Cows ei ais! ie REA aaa sey .00@ 7.00 Medium Sade sie sess na tee dasdale 5.25@ 6.00 ' Com 4.75@ 5.25 Low Potter "and “cutters .... 3.50Q@ 4.75 Bulls Yearlings Excluded (all weights)--ES auded tall we Iehts) e500 1.28 (All weights) medium ...... 6.00@ 6.75 Cutter and COMMON .coveee 4.55@ 6.00 Vealers : {All wai welghts) Choice ....... [email protected] aes ... [email protected] All wes te good Cen sei 8.00@ 9.50 Cull a COMMON ..ccocnsee 5.00@ 8.00 Calves ; —Receipts, 544— (250-400) Cheice ......ce.... 8.00@ 9.00 Goold aes. 7.00@ 8.00 Medium ........... 6.00@ 7.00 Common .....:.... 5.00@ 6.00 Feeder and Stocker Cattle Stee E (500-300 Choice .......... . 108 333 800-1050) Choice .......... 8.00 .00 ‘ -800) Good ........ce0 « 7.50@ 8.25 Y (800- 1650) Good ....... . T.00@ 8.25 Medium. ......... 6.75@ 17.50 (330-150) Good snd Choice. . a. $8 8.00 jommon ......... 6.00@ 7.00 Sse o50) ‘snd Choice’. “7.00@ 8.00 Sone, on. medium. 6.00@ 7.00 hi ND LAMBS ~—Receipts, 1334— Spring Lambs ChoiCe ....iveevensnncenasss 8.75@ 9.00 Good cadets evanese 1.95@ 8.76 Medium .......ceee. ee -sases 6.256@ 1.75 COMMON ..ccoseccae esssences 5.50 6.25 Good and choc ............ 1.50@ 2.00 Common and medium ..... 1.00@ 1. 3

60: 100-120 Is. Eibih $6; stags. $4.75: 35. $10; lambs, $8.25; clipped lambs, CAGO. Aus. 11 (U. P.).—Hogs—Receipts, 11,000; ects 4000; rarhon slow; few early bids anes sales around 10 joe lower; .65 paid and refused: hol ‘ choice hogs at steady prices. Cattle Re: ceipts 00. alves—Rec2ipts, dia 1000; S|

steady. Sheep—Kecsipts, 8000; 4000; steady.

:IBELIEVES BUSINESS TREND ON UPSWING|

. ASE. DE NEW YORK, Aug. 11 (U. P)— The trend of business in the country is definitely upward, John J. Pelley, Association of American Railroads president, said today. Recently returned from a trip to the Pacific Coast, Mr. Pelley said psychology has improved tremendously. “As yet, however, this better sentiment has not been translated into greatly heavier freight carloadings . but the latter should improve in due course,” he con-

| cluded.

#4 FORECASTS UPTURN

IN STEEL INDUSTRY

NEW YORK, Aug. 11 (U. P.).— Better prospects are piling up for the steel industry, indicating a continuation of the upward trend, the Iron Age said in its weekly steel summary today. Strength 1m *he scrap markets

gable ost has been so pronounced recently C is ay Sand) pt a 32 —00 5-16 that 40 a i f & pi Snicipgte anada ollar) .... ~33 Lo... ap uction rate o per cen y Tia Gray 0326% .ooo0/e | October—a level at which the inBelgium CR 18861 +3001 dustry can make money—the magGermany (ravi mk) 0! hoos |aZine asserted. Ang pe). 3450 +0004 Sweden (k ir. 2815 —.0003 ON Roa aso Bis. Tu LOCAL ISSUES Denmark (krone) .. .2178 -—.0002 . (By Indianapolis Bond & Share Corp.) . 1 uotati do not repreLOCAL PRODUCE | sspiauliih Se dese, i, Soc based o 3 + ling inquiries of vy breed hens, 4s Leghorn heas, | recent ansections: free “Hoary breed broiler: hy ibs. and oe Stocks : e T ¥ : : bs. and over. se; solored sang wy 11, Bid Asked Ibs. and up, 1 broilers, 19 lbs. Belt RR 3 ne xd coM....., 401 - 52 and over, ioe: Saran broilers, 9¢; old | Belt RR & ds pid.. pa 0% .. . roosters Cent Ind Es 79 pid 20 23 No 1 Strictly fresh sountry-run s, 17c; | Home Tel&Tel Ft.Wayne 1%pid 52 54 each full case must weigh 55 Ibs. Cus: a 13

net deduction of 15¢ § 1 be m

at ter—No. km Bare: No. 2 2 0 ¢; Oy 26c; butterfat—No: 1,.21c: ho 10

at—: (Prices prin oF by. ‘Wad oy ar

CORN. AND WHEAT REGION | OFFICIAL WEATHER

"aus, 1, 1938. of +. High Low Precipi-State of | - 2 <3 tation Bate! : vees 93 +03 Clear | sge: lee OF 1.64 c re . 45 69 5 Clear aad 92 1 0 Clear oti... 93 12 12 PtCldy 2 MN 04 . Clon Bus... 94 72 J10 - Clou Vincennes ........ 94 17 0 Cok Paoli vision aan 94 6 0: Ft. Wayne ........ 92 70 \74 PtCldy i 92 13 .18 Cloudy 8 Cloudy 92 0 . PtCldy

ull Se each f Ci

Economics wo ek other terminals ruled weak!

TMEMBER BANKS REPORT DEMAND | DEPOSITS DOWN

Decline of 209 Millions Includes Nearly All Re- . serve Districts.

WASHINGTON, Aug. 11 (U. P).|s —Demand deposits -of the Federal

Reserve System in 101 leading cities decreased $209,000,000 in the. week ended Aug. 3, the weekly statement showed today. Deposits credited to domestic millions, while

six while holdings of “other securities” decreased two millions, Demand déposits-adjusted declined in neafly all districts. Time deposits were off seven millions and Government deposits off five millions for all districts. . Commercial, industrial and agricultural loans declined seven millions in New York City, and four millions at all reporting banks. Loans to brokers and dealers increased seven millions and “other loans” eight millions. princiysl Chianges Listed

PREDICT FAIR YEAR IN HOTEL BUSINESS

WASHINGTON, Aug. 11 (U. P).— Hotel business the last part of this year will be above normal but not as good as last year, according to reports compiled by the American Automobile Association. “Fewer than 20 per cent of the | hotels replying to our questionnaire,” the AAA said, “have experienced any increase in the volume of tourist business so.far this year, . With but few exceptions, they expect a decrease in business below last year’s record volume. + “However, because touring was at such high levels last and spending so lavish, a slight decline will not bring hotel patronage below a normal year. The hotel situation can be summed up: Business > | will be: But: not as good as last

> | HUNGARY PLANS NEW

RAILROAD TERMINAL

Representatives of ‘the Hungarian

United States are now formulating plans whereby the American systems of transportation and traffic manip‘ulation ‘may be employed in Hungary. A plan to build a lower level extension in the East and West terminals is under way in Budapest.” The new level would extend to the outskirts of the city, and trains

underground. This would clear up much of the traffic congestion,

Ss IF NEEDING CANNON, SEE MR. SHANNON

CLEVELAND, Aug. 11 (U. P).— When friends of A. R. Shannon, watchcase expert, require a loud noise—to celebrate a holiday, to start a regatta, or merely to make a loud noise, Mr. Shannon is willing to oblige. His collection of cannon range in size from a tiny brass piece to one with a bore nearly as large as a ‘ball, ‘but all are capable of being fired, and Shannon always is glad of an excuse to fire one. He says ‘it's the noise—the idader the better—that he likes. ; Mr, Shannon started his colleetion during the Spanish-American ‘War. He designed the first of his | collection himself and fired it at Attleboro, Mass, Dewey’s victory at Manila Bay.

CAT MOTHERS OWN ~ AND TURKEY BROOD BUZTOWN, Pa., Aug. 11 (U. P.).— taken

A Maltese mother cat has over care of a brood of young

571 | turkeys on the farm here of H. A Steelman.

The cat took the chicks and “in-

with one another,

&°|ELECTRICITY oUTPUT UP

Wnt 82 -amp & a NEW . YORE, Aug. 11 {U. P).~ EES ie Electricity pauciion mn the week| Loan 5s '46.... . ...... 85 100 ug. 6 rose to the highest Shi izing Tha Tel 4548 od i level a se the first week of this| FmeIsl o% 8.01 © 106 Jean, lS report of the Edison Elecjx eras Tel 5 Ra. ’ Bos 1% Tndtie at Co ali es 000 oh] . Inter Tel & 9, 83 .. + 3-1 Kokomo Water Wks 5% '58 ..103% 104% | T€C Euhner Pa Co $%a% '50.. 93 ifi Fs Morris 5 & 10 5% 750... 88 | — Muncie Water Wks 8% ‘65. 1004 _....| a EY Tata% 41 10" | ond. wat Wis 0% isn. iin 108 | Water veel 103

Changes in principal assets and liabilities of the reporting member banks (000,000 omitted) : Assets. : Net Chance 2 Aug. July2r 1681 Loans _ ord + 4 —$1818 Loans—total ..ce.s. 8 + & — 1743 o ans «ee + 348 = 4 = 634 marke : - Loans to brokers ; and dealers ..... 602 4+ T — 178 Other loans 8 or pur. peal securities dens 574 — 3 — 128 Foal an Joana ve 1161 — 1 — 1 to banks . . 111 — 5 —. 53 Othe govt ohiiea” 1516 + 8 = 16 ol - wig iT ou HORE, oe BA NEE a BET obli tions. fully gtd. by U. 1646 + 6 J 456 Other DY itis 3.004 — 274 56 Reserve wi : 2 : Res. Banks watie vis 6.570 105 -- 1,481 Cash in vault ::.... 378 27 + 91 Balances with 0- - Heshic ban ks ..... 2309 —24 4 1708 : : Liabilities Dema dd s Sogo geste 9 + 74 Time deposits ..... 5193 — T — 51 U. 8 Gt nih 436 — 5 — 27 b! Deposits : Domestic banks .... 5927 <4 77 + 904 Foreign banks .....- 309 *| 8 -— 292 Borrowings ........ 5 — 38

BUDAPEST, Aug. 11 (U. P).—|

State Railway who visited in the|

arriving and departing would travel |.

to celebrate :

troduced” them to kittens to which 2 | she recently gave birth. The “stepoS children” appeared to get along

TONIGHT

6:00—Rudy Vallee, WIRE. 6:00—~Men Death, WFBM. 6:30—Boston Symphony, W WBOW. 7:00—Pulitzer Play. : 7:00—Toronto il WIRE LW. . 8:00—Bob ‘Burns, WIRE. 8:00—Victor Bay, WFBM.

Pauline Lord, who first created the of Am Knew

i i dh

B e

. tonigh! Theater Guild productions, in the role of the young wife -year-old grape grower who love with one of the vine-

gREgv] Saki

1 hi

lotte

;

8 8 =

taneously in widely separated places, will be heard in the “Men Against Deaia? series over CBS-WFBM at Pp. m.

ON THE RADIO

.| “Loch Lomond.”

‘of Robin Burns on the Kraft Music

«Music as You Desire Tt the late evening period of recorded music broadcast Sundays

through Fridays at 10 p. m. over WENR has been renewed for 13 more weeks. 3 t J 2 - ‘Olivia De Havilland, lovely screen star; Lou Holtz, comedian and Jose Iturbi, concert pianist are the guests

Hall tonight at 8 through NBCWIRE. Miss De Havilland is going to. break her rule of never singing in public. ® 8 = : Victor Bay, during his “Essays in Music” program, will recognize the musical genius of Scotland by presenting five Scotch :selections. MacDowell’s “Scotch Poem,” and “Scenes from Scottish Highlands” by Granville Bantok, will be played by the orchestra. Hubert Hendrie, - bari tone, sings “May Ain Folk” by Lemon, Carmelo Ippolito, violinist, plays Bruch’s “Scotch Fantasy,” and the Columbia. Male Quartet will sing (CBS- WFBM, 8 p- m.) gar

2 2 =

.| Ezra Stone, the 17-year-old actor 5 in the Broadway hit, “What a Life,”

returns tonight to the Rudy Vallee hour to present another sketch in a typical ‘American household. (NBC-WIRE 6 p. m.) Other guests include Donald Budge, tennis champion; Franklin Pierce Adams, better known as F. P. A. and Joe Lewis, comedian.

2 8 8 / 2 = =» ; THIS EVENING coe (The . Jndisnagais imes is not nsible for in - nouncements RE tation changes after op aN atetracies Yn Sroeram gt x APOLIS - APOLIS CHICAGO . CINCINNATI *-* Tp 1400 WGN 720 W 700, . MBS) (MBS Net.) { MBS). « 4:00 Four Notes . Tennis’ ‘Matches = Bill An 's Or, 3% { ERES. foo tr BAS En. gas mE Orphan Annie ~ - Lowell 5:00 Christ. Science = Aces & Low ; 5:18 Bohemians yarieties Serenade. Bar T-Denton 4 3 Casin n . Sports 5 5:45 Bole Carter Basenoloky Inside Sports P. Sullivan $0 Men-Death Rudy Vallee * Sinfonietta Rudy Valles Nua wo Green iHornet - oo 7:00 Major Bowes Pulitzer Plays Don't Believe It “Fromenage Symi Ta ” " » - : Soins 9: » " 5:45 "oC AE ahs 8 - Tomorrow's Trib. j.- ng 2% 8:00 Musical Essays Musio Hall Congert Or. Music Han ~~ '¢ $30 At Work, hon Weper's Or. om : 9:00 Sverts Ambos-Andy » pr = 9:15 Sereenscoops . News Carlsen’s Or. | As inndy $# 9:30 Goodman’s Or. ‘Baseball Fields’ Or. - Courthouse “% 9:45" [1 ay » [] ” ”» ” ” 8 Imo I A 10:30 Weems’ Or. Garber’s Or. J. Dorsey’s Or. = ‘Moore's Or. 10:45 1) ” ” ”» » i" : ” ”» asi : 11:0 H. Henderson’s Or. Dance or. Redmzn’s Or. Review ’. or. z 11:30 Molina’s Or. " ”» Livingston’ ul Livingston's hy 1145 Gendron's Or. Hangs Or._ pei Or ort > FRIDAY PROGRAMS INDIANAPOLIS INDIANAPOLIS CHICAGO CINCINAN LL 2 WIRE 1400 WGN 720 W 700 a . (CBS Net.) (NBC-MBS) (MBS Net.) (NBC-MBS) 5 , 6:30 Early Birds Devotions Musie Box 0 6:45 a. Musical Clock To. Revelers 7:00 " "ow. Good Morni enum no. Carolyn Frves Peter Grant 3; sr News Yous Myrning | - Coleel Clager, «+ 8:00 tty Kelly Mrs. Wi Crane-J Croc! > 8:15 Bt Marte Other Ee perigee Botiy Crocker ; 8:30 ton-Go Plain Bill Melody Parade Hilltop House ~ “| 8:45 Stepmother Woman in White = Earl Lawrence Betty-Bob wl .9:00: Ruth Carhart David Harum Get Thin " Goldbergs Th 9:15 Apron Strings Lorenzo Jones - Children Vie-Sade : 9:30 Sister ssa Byrd State Street Short Story 9:45 e Linda's Leve ted s - Life’s Road X 10:00 Marv McBrid Radio Four Manhattan Mother Editor's D er 10:13 Irene Beasley Alden Es hs Tote eT Bots usher 10:30 Mrs. Farrell Quin Ryan News-Weather 10:45 ” Core s Or. Mail Box / Farm-Home 11:00 Bohemians Singing Sam Melodies no. : 11:15 » * Welcome ” ”» - i» «3 11:30 Farm Circle Farm Hour Seryices Livestock : 11:45° Farm Bureau Jack-Loretta " 12:00 lod 1d Turner Linda’s Love BE awe Er popper BEES" BE Boner 24s OW . Wrath Kitty Keene 2 180% ‘Sumner, Ehaater iis weer Pian Mary Marlin 1 Varieties. os ~ Degga Byrd nL. Zoune's sume’ family 3:0 Reyne |, pe: a Re Nite » Me Wite 2:30. Marty Dale Gene A Leadoft Man ke “3 3:45. Economies Police Toure Cn Hatterfields =... >. ”» ”» on. vee bE Dorie 3145 Want to Be upetr Sov ll. Man of Mars 4:0 Light's Or. Tennis Matches Bil Anson Honor olin ans : 5 : ~~ 4:30 bY Si Seren Douglas 4:45 Tes, Tugss Jimmy Kemper Orphan “Annie Lowell - Thomas

NBC-RED—WEAF, 660

CBS—WABC, 860; WJR, 750; WHAS, 820; MUTUAL—WOR, 10; WHK, 5; WHKC, 610; CRLW, 1030; WSM, 350.

‘KEY NETWORK STATIONS (Subject to change):

NBC-BLUE—WJZ, 0; WOWO, 1160; WENR-WLS, 870; EWE 1350. ; WTAM, 1070; WWJ, 520; WMAQ, 6

KMOX, 1090; WhEM, 976.

CROSSWORD PUZZLE

mn famous b ue Bu silat. in n ay VT Ha Ton oF 3 Hmm BaD vcisisie al lel APC | 23 Fatty. 14 Small 3 TIVISERTIALY 25 He was an memorial. O|P]1INIEISERGIESICIAIRIAIB —— in the 16 Italian city [RIA[CIEEEMIAIRIEISERMIE NIU} French 17 Alluvial C[RIEIEIDJENIOI TIM TIAID]1 [R] 27 Native metal. _ matter. E UIPERUIGIO Nj 29 Indian. 2 19Smell. RIHIE[TIoIRIESIE|N[G|AlG|E] 30 He has been 20 Behold. « fYIEIAIREEE |WIEIR|S BEL [EAD EE L.s 21 Measure of, AR[EJNE|AISIEISIRAIR|T concerts for cloth, - O[RILIEIAIN|S] ISIOILI{D]|I [EIR over 50 years, 22 Age. 2 32 Antagonist, - 24 And. 46 Ragout of — 35 To censure. 26 Drama part. game. 65 He began 37To doze. 28 Drone bee ~ 48 ElL receiving 39 Sick. say 31 France. 49 Shrub musical w= 42 To leak. 33.To regret. containing at 12. 45 Playing cardm * 84 Neuter “indigo. VERTICAL 47Stranger. - pronoun. $1 To pare. 1 Idiot. 50 Italian coin, © 35 Exclamation. “53 Half'ah em. 2 Tidings. $1 Wooden pin. 36 Money 54 Doctor. 3 Wrath, $2 Electrical uni¥ penalties. §5 Evergreen 4 Musical note. 54 Dnwer 38 French trees. $ To turn over. property. ~ private soldier 57 Provided. 6 Eggs of fishes. 56 Convent 40 Bugle plant. 59 Wepre 7 Being. worker. ' 41 Idant. 8 Senior. $8 Away. 43 Gibbon. 61 Pr 9 Lion. §9 Bushel. 44 One who 62 Part of 10 Church official 60 Rallroad. captures any = school year. 11 Disturbance of 62 Toward. person. . 64Heis a native peace. 63 Mister. 7 2 ¢ 3 1 oF A