Indianapolis Times, Indianapolis, Marion County, 22 August 1938 — Page 13

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a y £2 : BE a 5 —— — . . STOCKS STEADY | Production, Employment Dip AFTER DECLINE; _INDUSTRIALY PRODUCTION AND EMPLOYMENT : A Early Losses Range to More » " Than Point; Bonds % : 30 Unsteady. - THE PARKER CORR GENERAL DISTRIBUTORS INCORPORATED INVESTORS NEW YORK, Aug. 22 (U. P.).— | Times Special The Stock market steadied in after- BOSTON, Mass, Aug. 22.—How 10 earn a living is ihe bis Problem noon trading today after an early gl rate of industrial production means more and fa decline. Trading continued very dull. The National Industrial Confererice Board estimates that at present Losses had extended to more than | there are about 43% million persons employed in the country or about a point. Coppers met support and | three and one-half million fewer persons than employed a year ago. came back from lows with a few| By far the largest percentage increase in unemployment the past year making gains. Farm shares and| was in the manufacturing industries which dropped two and one-half aviations improved. million employees. The Board also estimates that the present unemSteel issues rallied slightly and| ployment total is slightly more than 10% million persons but this the main list showed increasing re-| includes the more than three million workers employed by the WPA sistance. and CCC. According to the Board the total labor force of the country 5 at oon U. S. Steel was at 58 off | is now 53% million persons. Gypsum 94 up 1; Sears Roebuck 2 off %, and Anaconda sh | N. Y. STOCKS Ee Irregular, Quiet By United Press Meanwhile, bonds moved irregu- : larly through a narrow range in —A— : STOCK PRICE INDEX 90 quiet trading. High Low Last Change | 20 20 20 Mil ois 11 i1 4 Indus. Rails Util. Stocks U. 8. Government funds got off Arms Jad reins 3 aii a I a Saturday ...... 122.7 29.8 50.3 91.8 to a hesitant start but stiffened un- | xm Cry Bug 11% 11% 11% oo] |Week Ago ....1185 283 385 "i der moderate support and pushed | 4% Fig® # © -: in 1% in +h ni og a: Mu - — up’ to show gains ranging to 5-32 |Am Keg’ & 88 20% We We Tess mien 12a 388 654 1017 point ‘at the end of the first hour. Am T&T .. ri 1521 1523 ihe 1938 Low ...... 83.6 20.1 452 65 Rails attracted fair demand in|Am Water W .. 9% 9% 9% — jo | (Copyright. 1038, Svandard Statisiles Coo a mixed corporate section. Gains|Angeonda 1: 3 sn god — if ro extended to around a point in early | Atl Refining 22% 22% 22% — Ya Net dealings, with Canadian Pacific, 4 & ob 2=Bee . . ; Bish Baw i Change Mobile & Ohio Sautnern Pacific | Balt & Ohio ... sets | Radio .......... Tl see by B ae 9 9. 1 -K- : gf i 9y 100 and Southern Railway issues lead- |Bamadall 0018 8 18. i [Revere iff% #4 30 ©Uw awn tionally. South Bsc lldeh an eh i TS A J eased fractionally. Sou ‘Steel 5 pi 8% 15% 15% + {St Jos Lead ...41 41 4 + % Americ lo parca tater tod 5 B50 UBS I BEE Blmamemond 4 6 e ecline oreign dollar 1% Un un + #% iy oh an i Ear Be dn E NERRC fh 00 Curb Trend Lower Bund Sav 0 Wom LL Silver-King aan 3s Cf Curb stocks, however, maintained | Sua Witei [0 4% 4 4% 10 | Socomtecuum fen lw lw ¥p an irregularly lower trend in light Butler Rr 3 5h Wa. bh JuiSouth Pas .... 10% 24 18% — trading. Losses ranged from frac- Sparks Yin . an at ee veer® . gelansn Zine 3% 1% 1% ye ’ hf ; a id 1; 1 iegel ‘Inc 3% 13% 13 + % tions to more than a point although | Campbell Wy. 17% fe 17% Yi QRS) TG +o: 30 10% MSE + OM some high priced isues swung fOr-| Celanese .. ..1. 23% 23% 23% .... [Std Ol N 8 i Nh Th . : t ; . -Wwar ..... 7s 2 ¢ ward for substantial gains on odd- | ETIin-teeG op 37% 437% 9° ‘ny | Biome, & We. 9% 8% 8% + i 4 / = a sees -— ot dealings. Shoes & 0 Ry EL 04 3034 = a a Utilities were fairly active and |Chickasha C ... 16% 187s 184 —| }4 | Texas Cor 6 46 48 — 4 ‘lower under lead of Eleetsie Eond Climax Moly © co 38% 30% 30 3 fh J: G50. 000 Pn BA referred which lost 2 «iT i 10% 10% 10% .... S ar P Colgate-B-P '... 127 12 13, 1.7 ;aggameriet oo NE Hg QR on * : Colum Gas 8% 5% ‘ta ln i%h Oent-Fox.. 25 2B B+ NW Aluminum Limited Ayu up 2 Com In 53, 0a 83 ! a points to 125% and Aluminum Co. | Z0HWE t 1474 14s 141% [:07 |Union B & P.. 14% 14% 14% + % of America advanced to 115%, 8 net Cons wl 1 Si i {"'y | gnion Card... 81% BR fn — gain of 1% points, after opening at | ont SAF A -.- G38 $34 G36 Ly (Un Ahopatt Cp 21%, 27 N —- 4% 113. Other industrials, such as|Cont Oil Del lo. 331 ve 33% 33a I 4 PDC CO a3 g3% mgt lll Pittsburgh Plate, Sherwin Williams, | Sora Prod -...: 8881 66st oh — oon BESTA ely Stu Iw du Zu Oa toner wih |i hh he IDPS] BBE nam ” ha 3 Curtis. Pub cA%. Ts Th oh In a 42 7 i points. —D— PERN fn > dn Oil shares were easier and mining | Deere & Co..... 18 18% 18% — JRun Bl Nu Nw Zw shares irregular. D'Lac & W.. 0. 1 7 % 3 ia et Aviation iss e active and Bea RA aie mi wh Ward Bak A oe 8% 8% 1t¥ a on ues wer Dla Match 2 2 2 + % | warner Bro 6 3.8 er egul 0 . 2 ’ 5 Dome Mines av 34 33% 34 + Wes mute, P- 38: 1 10812 13 iy Douglas Air .... 47% 41%2 474 —~ ‘2 | White Sew M.. 17% 1% 1% .... N. Vv B, ds Dow Chem .. “l13013 : 1 130% = 1% | wonlworth ..... 45% 1h 4blp = % on : } —Y Eaton Mfg . - 30% 20% 20% ~~ | Yellow Tr ....19% 19% 19% -- | Elec Auto-L . 27 27 dame -— BOND PRICE INDEX. - Elec Auto-L am fo 0% 10% oo Young Sheet .. 36% 36% 36% sin BL GUL Bows |Firestone pt A. 91% 91% 9% — % Indus. Rails Ut nas | pintkote ...... 22% 22% 23% 4 Ya EPA T™ME T 1 rw Saturday ...... 85.4 59.0 .) £92 Freept-Sulphur. 28% 29% 29% ve Week 280 ...... 83.3 58.7 98.1 80. : Month ago .... 861 623 97.9 82.1} Gair Robt pf... 14 HM Year age ..... 99° 90.4 1010 94.4) Gen Electric .. sin a% 4% =v ...385% 35% 3/% 4. 1938 high ..... 865 500 9835 82.8 Ge Mille Basis +4 BE 1938 low ....... wee 47.9 87.3 & > Gen Motors wv a a ai oe F105 (Copyright. Standard Statistics Co Sen x Ere 13 aioe b 5 = Gillette SR 8 lo i =» | Reserve Board Says Sales eR... vee } + U. 8. GOVERNMENT Gochel Brew... 2is 2 His Tn 12 Per Cent Under ’37 Goodrich ...... 24% 243% 24% + 4 er Lent unaer . 4s 1954-44 : 18 | GOWER o 8 20s 36m TM HA and 06.3 106.3 3 Sy roun ad, 1 2 1% . 11% IB WASHINGTON Aug, 22 m. 2) x y ; 1 Pp re : , 22: (0, 3), a ss 983 183 119s le —National department store sales 2%s 1054-51 .....en. 103.25 Jui 5s 103.25 Haves hy ees 2 5% 3% 2% ty for the week ended Aug. 13 were 12 Home Owners Loan Bonds -Her B , a 4 == % | per cent below a year ago, the FedHudson Motor.. ais 9% 1:37 Y ¥ 3 105044 o.oo eip Joes 108.12 | upp Motor ... 1% 1% 1% + Te os Besos Board Jeposted today. FOREIGN —t e decline was the same as for 11 Central ..... 11% 1% 13% |... Argent 4s 3 | Interlake Ir... 1272 13% 13% A hep seeding eek and fr he four Australia 4%s 568 Int Harvester . 57% 57% 51% i peri ug. 1s. Brazil 6%s 27-57 £2 Nickel cores 10% i i — 5 The only increase for the week \ L.sesstee 39 YJ JI AL LQeLl’ sees ) 78 —— P Gros Bo BE He fT Rr rE odes] Italy 7s 51 ........... 7378 (3/8 (3°81 IOL I&1 ...... 78 . - Javan 8tas 8¢ . —K— : cline from a year ago was in the Toris 5% 81 Eemnecott ..... 40% 40% 40% + % Cleveland district. An TT a Wiig er En a Bg Leh Val RR.. 5% i... - Beth Stl 3%s 66 L-O-F Glass . aid al 0% F% in sales i Certn-td 5%s 48 a a crease sales in the week ended Childs Co 5 Lig Carb ...... 18° 18° 18° "| Aug 13. In that week sales showed : Lorillard pf ...138% 138% 138% .... |a decline of only 8.6 per cent from Cons Edis 3%s 46 Kresge 3%s ns the corresponding week a year ago. Mea 04 104 | nacy RH ..... jo Nat Steel 4s 01% 197% 1073 May af sid $5: 85 4% ~ = In the preceding week the decline Bee Be a iy fy, se Mannan Se. th pia oR TD 370s 14 per venidrom a Year seo. Penn RR 44s Do1_.. 0% Mk 108% | Mathieson ....l 38% 28% 381% 1 1®| The decline in apparel store sales 891, 80 89% | Miami Cop ..... 10a 10% 10% + ‘!|also was smaller. than in the preSPA Sian e 3 Gh [MSNWELTI ME #8 HE 2 coding week ‘1023 3, 2 od .... Va = VY Tide Wa oi 5} shes. 5.00 Ma lan —N— tlw BW wear wt wd STEEL OUTPUT RATE * Nat Dairy ..... uu Wn un ® Nat Distill 243 243% 24 % ‘ Curb Stocks Nat Gypsum i$ B91 *| HIGHEST SINCE NOV. 1 Nat Pwr & Lt 8% 6% 6% ; Nat Steel ..... 2 Last | Novrost ma "> he 3 No: — Wl! NEW YORK, Aug. 22 (U. P).— 15% |N Y Central ... 18% 18% 18% .... |The nation’s steel mills are schedAm oyan 5 2% | N F&M? 12 130 + Wlyled to operate this week at 42.8 m Tr 4 ae , al AE 107s ¥9 aime er 4 ah 2% 7 3 per sent of theoretical capacity, a Ark NC Gas A 13 °iNo Pacific .... 123% 12% 13% .... gain of 24 points or 59 per ide Boll Alf TL 1% orwalk T .... 2% 2% 2% <4 % over the preceding week and the Brewster Aero 8 | best since the week beginning Nov. 1 i . 1% .. oe. 7 7 : ’ Carrier Corp © 334% | Omninas pf 11107 * 107° 109° L'i |the American Iron & Steel Institute Cent 8t Elec gi. | Otis Elev ..... 24 ~ 1 | reported today. Citles Serv... §:2 | Otis Steer 00 iid 10% 10% Col0O &G ... 3 sept 5% | Pac Fi .. 129 v 4 FAIL TO ORDER DIVID Ri 2% |Bacegnee JB BB BM 3% END El i & Sn. 382 Packard. vi Si 5 Sh + NEW YORK, Aug. 22 (U. P).— Heol Min. 9 | paramt Pic % ole 94 + 1 |Directors of Park & Tilford, Inc, Humble Oil . fa Parker Ret Pri 18. 18. 18 .---,, {took no action today on the comImp O Can 4 Penns i ga v o8% 8% + 14 |mon dividend due at this time. The Int Petrol 38% enn 2 raaette’ 20% 20% 20% 4+ 3 | regular quarterly disbursement of Tockheed Air 15 | Phelps Dodg .. 357 s 353 -353 ._ ‘wu | To cents a share on the preferred |In N : nL LL Sat Phillips Pet fi wy 397% Wem % | stock was declared payable Sons. 20 erwin- 3 er Mt . 973 9% OM + 114 ; Ctd Oil Ky 18% | purity Bak ... 13% 18% 13% + - Oil 63 4 A ’y gtd Oil Ohio 21% F OREIGN EXCHAN GE Oil 99 - : Sunray oil 2% T . o NEW YORK, Aug. 22 (U. P.).—Foreign 3 3 RRL Ly Gaga d ff Trading Rises |sFciE Bah rian eres taeae A Net Rat | SHARES TRADED Canada (dollar) ...$ 99 1.21 Chaim Chicago Stocks ON N.Y, STOCK EXCHANGE Italy (lira) ....... 95263 00001 0 Eee BE x : Ger. (t Kk) 2 —.001 Aviat & Tran . ely Sr Bas » wiissriand (franc) 5 wis Bendix AVIaR ss es 3% 237s 23ia| |W Holland fgulldery 003 +0002 ~WATDEr ieeesososs 32% 32% 3% |¥ 401 ZZ Norway (Stone) ve. .3453 a 10S 8% 3h 2h z j Z Denmark nae) are 2% 3a | Ab solr | op U. S. STATEMENT a; en F A WASHINGTON, Aug. 33 (U. P.).—G 3 u a i ia 78 777 | ernment expenses ane receipts for ve cur 46% 46% 2% Z Zi NV rent fscal year through Aug. 19, com5 s VA YX pared w 3s ear ago: {ess | 0 N OF Expenses § 1,323,588.313.26 101, er res of gi ud CORR GENERAL Seen Resid nr Woodall Ind ..ceacsse .s 3 s » y . Zenith RAGI0 +rrionsess 20% 20 20% | ANCORPORATED INVESTORS Net bar 500 8.185. a 250.83 19.18 on | Wrk, Bal, : 1,871 6.53: 1;024,700.417.60 ’ - Pub, Debt. 37.456.7 770.2 22 36,061,188,248. DAILY PRICE IN DEX T ne Spe A 42 Thee hit Ba 13i062.310 11783 12:535,081 019.02 NEW 3 YORK. Aug. 23 (U. n &| Mass, m- 135,650. J hted A nde reawakened public interest in the APOL 3 basis comedies. “como 4 id stock rE continued to show |Clearh ne eo SHEARS "Raia Week age [11111 He ftself throughout July. The to- nn 2 on BFO c-cccrccscns sae ha tal turn 8 a iar over in shares traded on LOC AL PR D E 1838 pig coe fan, 100.xe ua the stock exchange was the larg- Bore es 0 25 =~ . a y est for any month since October | heavy breed Broilers. 2's. and over, Le! FOOD PRICES of last year. d The gs in I colored oy 112 bs. tock pr ces during July however, horn br whic wie gt RY S80GoL Base yaa Qob marked, the Dow-Jones #0 + abe: Pot Eiht not bunch bushel hampers He Indy o 4 rome rising Te ad oF trietly fresh ni Ea y - Cc; Michigan Be omato PO not surprising a foi, gr hs oF i da | ey une pone Bo |S EL Colorado, hamp hy : June i it 4 reported. 10 duys 0c; bserisl ky 1 Sie

3 —-— I ARES

SELLING LOWER CHICAGO WHEAT

Corn Also Off Fractions;

‘Oats Prices Vary On Board.

CHICAGO, Aug. 22 (U. P)— Moderate selling by Northwest interests and lack of export demand turned wheat prices downward and

more than erased early gains on the Chicago Board of Trade today. At the end of the first hour of trading wheat was off % to % cent, corn ‘% to 3% cent, and oats were 1; cent higher to to 1 cent lower. Trading was fairly light with much of the trade awaiting further developments in regard to Government wheat export plans. Liverpool wheat eased to close % cent lower to 1% cent higher. Winnipeg was unchanged to up % cent at the end of the first hour, while Minneapolis and - Kansas City both developed a weaker trend. i“ Export busimess in North American wheat was reported to be small. Corn prices. faded in sympathy with wheat under light offerings by local houses. Receipts of wheat in Chicago today were estimated at 89 cars, of corn 256 cars.

WAGON WHEAT

oy Biain ¢ elevators are paying for No. ther grades on oe r merits. Ca. ed corn. new No 3 yellow. 48c. Oats, 20c.

LIVERPOOL WHEAT : Min BS: tquivalents based on sterling at

High Low Close Sow Serato sbetnae by Get. +vvace. if Te mis March en 74% J4 4

FREE COMPETITION URGED IN SURVEY

Businessmen List Benefits Of Large Operations.

NEW YORK, Aug. 22 (U. P)— Free competition and the workings of economic laws are all that are needed to control the size of big business, a survey of opinion of business executives by the National Industrial Conference Board revealed today. The men responsible for the oparation of America’s business life believe that Government regulation should. be applied only to prevent monopolies and the operation of price-fixing agreements, their replies disclosed. The consensus of executives was

that certain benefits flow from |

» | operation of large scale enterprises, as follows: 1. Mass marketing, with extensive advertising, leads to increased saies. 2. Greater stability, mass purchasing power and assembly line production technique of large companies often bring lower prices to the consumer. Greater Price Stability

3. Large operations show greater price stability, tax economies and

‘more efficient management which

contribute to substantial profits and

a net gain in national income, and |*

4. Big business finds it easier to obtain capital and to deal with labor organizations. From the investors’ standpoint, the executives defended big business on the grounds of the wider diversification represented. Practically all of them agreed that big business rendered a definite public service in fostering research and that industrial progress would be hampered without the large sums spent on research and technical developments by leading companies.

Outline Bad Features

However, while rallying to the defense of big business &s such, these

executives pointed out bad features 30-4

found in .the -operation of large companies. There was criticism for the management as being in many cases inefficient, overpaid, hampered by redtape, too easily influenced by company politics and too self satisfied, with 3 sorretRonding decrease in progressive thin Among the major ‘weaknesses of big es cited in the replies to the survey were that big business suffers serious disadvantages in absentee management, unfamiliarity with local conditions and the fact that top executives have little or no touch with employees.

LOCAL ISSUES

The following au quotations do Ros reprecrual hi P! Fo te k w. a pro me market level based on buying and sell inguiries recent transactions: ne les

Blocks Bid Ask Belt RR & St Yds com carne «. 49% 52 Belt RR & Stk Yds pfd ...... 50% . . Cent Ind pone 7% pfd .... .. 20 23 Home T&T Ft. Wayne 1% pfd. 52 54 Hook eeom . ...... 11 13 nd & Mie Elec 7% ptd Seda 196% . .. d Gen Sve Co 8% p feanves 55 58 Indpis Sas Com. ..-. ...s0..0 14 ..... HE &L Go’ 8° td seve uae i ir In aepls Water Co 8% pid ..... 102% ..... -Lincoln Nat Life Ins Co 1:23 24% N Ind Pub Sve 512% pfd.. 65 3 N Ind Pub Sve Co 1% 8 N Ind Pub Sve Co 8% ptd 7 74 BE ob orn § 5h 11 ide 3 Pub. Sve Oo.of Ind. 19 bd ... 381% 3812 So Ind G&El Asn pid... 0. 86% 89 aute Elee pfd ....oieevie 97 100 Unio le rg He 8 dy 1) seen. van Camp Milk Co com .... 0% 11% Bonds Amer Loan 5s 46 ......... eos 95 1 itinens nd hel? Oy S* son 102 1% T&T Wt F 5% 58 ...... is 105 2 IST Ew 6 % 85 +vvsse 108% iv Ceanid at i 3 at Co 31%, 68 ......104% 106} na Tel & Tel y Rds $3 ...... Ra 93 komo Water eo id 104% Kuhner Packing C Co. 4150, 50 . 101 Morpis 5 & 10 Rs 3% 80 RT 9 101 Muncie Water s 5% ty «0.102% Noblesy Ht LT&P 6%% 47 ...1 163% Ohio Tel Sys oo 47 iiiveees ] 100 Public Tel Co 42% 56 ....... 97 100 Richmond Wat KY 57 ... 33% 05 our Water 49... T Haute Water Wks § 4 ...100% 1 PR Water Wks 6% 49....100 ..... Trac Corp 5% waisienes 61

(By M. P. Crist & Co.) : Market St. Investment Corp.. 33.57 28.34

CORN AND WHEAT REGION OFFICIAL WEATHER

Aug. 22, 1938

low 18 Es 3 Sar 5

By 0 8 Weather RULED cael i

Force Porkers! Down to $8. 80

week boosted receipts here today,

forcing values 15 to 25 cents lower, |

the Bureau of Agricultural Economics reported. Receipts, expected to reach 9500, moved prices 15 to 20 cents lower on weights above 160 pounds. Lighter weights and pigs showed the quarter loss. The practical top on 220 to 230pound butchers declined to $8.80. sows were weak to 10

Packing cents lower, good medium weight |

and heavy sows selling from $6.15 to $6.75 mostly. Approximately 15 loads of slaughter steers and yearlings sold at fully steady rates, although seller retarded a clearance by strong asking prices. Most of the crop was medium and good lightweights and yearlings valued from $8.50 to $10.25. Heifers ruled steady, although demand is limited for grassers. All grades of cows commanded strong prices, cutter grades $3.76 to in extremes $5. Weighty Sausage bulls sold at $6.75. Vealers scored a 50-cent gain to boost the top on choice descriptions to $10.50.

Fat lambs ruled steady to strong and a top of $0 was paid more freely than late last week. Other good and choice ewe and wether lambs largely scaling 80 to 90 pounds made $8.50 and above.

, 3956 . 5993 9. 5624 9.00 5629 oh Doi mn Brean vansarss 5.00 9557 Barrows and Gilte— (140-160) an Shotoe. * 7.25@ 8.35 (150-180) Good 8.00@ 8.55 pres Good Sales: o« 8.45@ 8.70 200-220) Good and choice.. 8.65@ 8.80 (220-250) Good and ice.. 8.65@ &.830 (250-380) good choice.. 8.25@ 8.70 (290-350 and choice... 7.55@ 8.35 Pan 50) Medium sessasices 1.00@ 7.50 1435-380) esans 6.65@ 7.10 350-4 Qood ............. 6.50@ 6.15 Nl) os Good .ccceveiveine 6.00@ 7.00 Slane 2 (100-1 aud choice. . HH 7.50 wiht NOIRE vs a wwe ae 6.50@ "7.25 TLE —Receipts, 1211— Steers. (750-1100) Choice ...... ossens [email protected] (800-1100) €hoice ............ [email protected] 11100-1300) “hoice gore [email protected] (1300-1500) Choice ...s..es 1.50

50-800) Good rs gio ) es sesndssenan » (900-1100) lenin 87501025 1100-1300) tee. [email protected] 11300-1500) ne 1150-1100) 7 (1100-1300) q (750-1100) 6

Medium (plain)...

Heifers 750-800) GOOd .........ve00 8.50@ 9.15 550-900) Medium .......... 7.00@ 8.50 { 900) Common serves 8.75 7.00 All Weights— Com @ fot aia eS R ise ae as oe 8 1% Commor das SHE EN Low Toutter and cutters... 3.7%@ 4.75 Bulls

Yearlings Excluded— (All weights) Good beet) . oe 1 Jyeiehts) Medium. oe d common

Veslurs All weights) Choice ....... 19041032 (Al wel sighs) Good ...ieevenn 9.50@ 10.00 (All wei ts) Medium 8.00@ 9.50 Cull and common .......c.. 5.00@ 8.00 ‘Calves A —Receipts, 457— 50-400) Choice ......... 8.00@ 9.00 . Good ............. T.00@ 8.00 Medium .......... 6.00@ 7.00 Common ......... 5.00@ 6.00 Feeder and Stocker Cattle Steers— 1500-800) Choice ............ 8.00@ 9.25 (800-1050) ChoOI1C® .....ccs0000 8.0062 9.00 { Good: iiivsaeneie . x 8.25 800-1050) Good .........000n 9. 8.25 500-1050) Medium .......... 8.75@ 17.50 (550-150) Good and choice . 7.00@ 8.00 Xt Common vies ae 6.000 7.00 BesoT0 Good ana cholce.. 1.000 8.00 Common, medium 600 7.00 Sheep and Lambs . —Receipts, 1769— Sp C see ese LER] 8.50: 9.00 Good" caw Bst ee C0 eBoctnrnn ee Tae 830 Pet EOE TX | 1 Ewes— Good and choice ... ....... 1.50@ 32.00 Common and medium ... 1608 1.7% CHICAGO. Aug. 22 (U. P).—H Recenits 14,000 includi : , 3500 directs: T fairly active pening and sales around ady with Friday's average; and

Sipe iets gave 3000, steady. Bhesp S, calve Receipts, “directs, 6500; steady. -

WAYNE, A ug. 22 (U. P.).—H Market 5 to 20 A lower; 220-240 $8.65; , 200-220

1bs., $7. -350 1bs.. Tos. 8500 120-140 lbs. $8.90; $6.25; stags, 90. lambs, .25; calves, $10.

REPORTS U. 3. LEADS IN '37 STRIKE TOTAL

International Survey Lists 19 Countries.

GENEVA, Aug. 22 (U. P.).—Labor statistics published today by the

“International Labor Office said that 1v | in 19 countries there had been 10,267 ot | strikes or lockouts in 1937 involving

4,223,994 workers. . This represents a loss of 50,755,454 working days or, calculated on the

* | basis of a six-day week with an an-

nual 10-day vacation, a loss of 167,-

. | 509 working years, the report said.

The United States suffered the greatest loss, Poland was second, Great Britain, third. Four thousand, seven hundred and forty disputes in the United States involved 1,860,621 workers with a loss of 28,424,857 working 'days—more than half the total for 19 countries. Poland’s 2103 strikes involved 545,165 workers with a loss of 3,297,105

working days, while Great Britain|

had 1122 strikes, involving 585,000 workers with & loss of 3,420,000 working days.

FREIGHT CAR ORDERS LARGEST FOR 1938

WASHINGTON, Aug. 22 (U. P). —Class I rajlorads on Aug. 1 had more new freight cars en order than at any other time this vear, the Ase sociation of American Railroads announced today. The number of new freight cars for Ea latest date amounted to ,234, compared with 5021 on July 1, nr 38,080 on Aug. 1, 1937. New Joeomeiives on order on Aug. 1 were 26, compared with 37 on July 1, and 283 a year ago. New electric and Diesel locomotives totaled 28 & | against 26, and 29, respectively.

Heavy | eceipts |

p | agreements can increase

NOTED LOGALLY,..»

Canfion Says 26 Per Cent|

Improvement of hog prices last

ain Reflects Public Confidence.

A 278 per cent incresse-in the rate of flow of private funds into local savings and investment accounts is one of the most encouraging signs of a return of public confidence, Fermor 8S. Cannon, Indianapolis Federal Home Loan Bank chairman, said today. These new funds, totaling $1,970,607, were received by Indianapolis institutions and invested in first mortgage loans on Marion County homes, Mr. Cannon said. “At the same time he anflounced a 16 per cent increase in new lending activity for the system’s sixth district, somprisel of Indiana Michigan. This gain was 10 per cent greater than the national increase.

“The fact that ‘people are once again turning to thrift in the accumulation of funds.” he said, “is perhaps the best illustration of their confidence in the community's economic soundness.”

FORECLOSURES CLIMB IN STATE

July Nonfarm Total Shows Only Gain in U. S,, Board Says.

Times Special WASHINGTON, Aug. 23.—0nly one of the 12 Federal Home Loan Bank districts, the Indianapolis region, showed an increase in the

number of nonfarm foreclosures in | | July over that month last year, the

Federal Home Loan Bank Board announced today.

The increase was confined to

0 | Indiana.

Af the same time, the Board | estimated foreclosures in the United States dropped 2.8 per cent in June. June was the ninth month in which nonfarm foreclosures remained below the average month of 1929. There were 10,704 nonfarm foreclosures in June ageinst 11,013 in May, the Board reported. The District of Columbia and 26 states showed decreases aggregating 769. Increases were registered in 21 states, largely in the northeastern section. As compared with the same month

18 last year, June foreclosure activity |

declined 27.1 per cent throughout the country.

FARM EXPORTS OFF

MORE THAN BILLION

Report Says Rise Depends On Wheat, Cotton, Meats. i

NEW YORK, Aug. 22 (U. P).— The recovery of foreign markets for American farm products depends largely on what happens to wheat, cotton and meats, according to a special report issted today by the National . Association of Manufacturers. : In a Suidy of “foreign trade in agricultural products” the association asserted that this country’s annual farm exports have shrunk more than a billion dollars in the past 10 years. More than 85 per cent of this decline is traceable to dwindling shipments of these three commodities,

- | the report said.

“Therefore, unless reciprocal trade exports in these three fields, in each of which a special condition prevails, it is difficult to see how they can materially increase our total farm exports,” the report said. “Agricultural exports 10 years ago were valued at $1,907,780,000 and formed over 16 per cent of total gross farm income, according to the association, whereas in the 193637 crop year these shipments were worth only $§732,826,000 and constituted about 7% per cent of total farm income.”

EXCESS RESERVES OF MEMBER BANKS UP

WASHINGTON, Aug. 22 (U. P). —Excess reserves of Federal Reserve Member Banks on Aug. 17 approxi-

mated $2,930,000,000, an increase of’

10 millions for the week. A weekly condition statement showed today. The statement for the Federal

Reserve Bank of New York revealed.

an increase in the amount of loans and investments of 15 millions to $7,642,000,000 compared with a rise of 30 millions in the preceding week. te of all loans rose 27 millions to $2,942,000,000. *

PITTSBURGH BUSINESS|™

DECLINES SLIGHTLY

PITTSBURGH, Aug. 22 (U. P.).~

Business in the Pittsburgh district declined 1.2 per cent during the week that ended Aug. 13, the University of Pittsburgh’s business research bureau Yeporied today marking the first drop in ‘business in more than two months. Activity in some indy mained about un , but Joderate decreases were reported b many of the major industries fn the 11-counfy ares.

tries re-

NEEDS A SAFE DEPOSIT BOX

ALL SIZES MODERATE RATES

HG 3 AMERICAN NATIONAL BANK

Southeast Corner PENNSYLVANIA & MARKET STREETS

| .Orson’ ‘Welles in “ his - | Theater of the Air” -

Vienna, “The:Affairs of Anatol,” will be presented in a-:dramatization by

over CBS-. WFBM ‘tonight at.7 o'clock. The ‘play will be given in Welles’ “first person singular, style, During the “Volos of Firestone” prozam at 6:30 p. m. over NBCWIRE Margaret

will sing Friml'’s “Lamour T ot | ours L’Amour,”

“ Rachmaninoff’s “In the Silence of the Night,” and: “Adieu Foret” from Tschaikowsky’s “Jeanne D'Arc” Alfred Wallenstein will conduct the orchestra in Lacome’s “La Feria,” “Vienna Beauties” and “Entrance of the Little -Fauns” Tom Pierne’s “Cydalise” suite. J » ” Robert Ripley (NBC-WIRE 8:30 p. m): will have as his guest: the Chinese girl heroine of the Siege of Chapel, where Japanese trapped the “Doomed Battalion” outside the Intefnational Settlement at Shanghai. She is Yang Hui-Min, member of is | the Girl Guides of that city, who is attending the World: Youth Congress in’ this country. Twenty times she ran the Japanese lines to carry food to the isolated: battalion. On her final trip she carried a flag from Gen. Chiang Eaiher, ” 2

Music of Feypt will be featured on the Carnation Contented broad-

THIS EV

Arthur. Schnitaers tale of! old :

Dream”; a Fantasy from nd Eneco's First ‘Roumanian Rhap- »

. “Mercury:| ding

On tomorrow’s NBC Music Guild program. at 12:30 p. m. the 3

String Quartet will ly”. .- mann’s Quartet in FP, 41, No. 2, and the Scherzo from Tschaie kowsky's Quartet in E flat minor. 0 8. 8 8 . At 4:15 tomorrow over CBSWFBM Ted Husing will describe highlights of the United States

Lawn Tennis Association’s doubles’:

championships from the Longwood

Cricket Club, Chestnut Hill, Mass,

FE . ; Works by the late French coms.

poser Gabriel Faure will be pre:

sented by Suzette Duval, soprano, and a chamber quartet tomorrow:

at 8 a. m. through NBC-WOWO - The broadcast will be sent from -

Fontainebleux, France and will originate in the Ametiosn Conser~ » vatory of Music. .. . ; 8 ” 8

A description of the Veterans of Foreign Wars parade will be heard over WGN at 1:30 p. m. tomorrow from Columbus, tional Encompment, is being held.

ENING:

(The Indianapolis Times is not srorras aouncements caused by station changes SHOR aol Jal asenraces = . ane

IANAPOL1S INDIAN I : 3 Bw NRE Too 5 AR aA S } ] CBS Net.) (NBC-MBS) (NBC-MBS) (MBS yn 4:00 © News Spitalny’s Or. 3 in C.'B, Millhollana News = Usanagunecd: : enymbra. find $8 Tea, Tunes Interviews Spo are i 45 Lowell Thom as Orphan Annie 5:00 A Speaker Auditi : 5:13 Benmiine 2 Rose Manet Bronte oo Serenade Ting 8:3 Boake Carter Basonolozy P. Sullivan . Bo Xes—Duschess oe. 3.4. Monday Show Looking In Robert Rivley : Contrast, Studies eh Neg Speaker Margaret Sneaks Richard Crooks Lond Raprer 7:00 Mercury Theater Melodi 1 S #3. La . Legion Banauet Seman ss Sem Lo... : 45 ."® » n YReries Tomorrow's Tom. 3:00 W. King’s On : Contented Hour True-False . Dell _Concert 33 Roller Derby Robert Rivley - Minstrel Man Melody Bare any: 5 p40 mors Ser duty IE MAE be : ; Kresun on" ur’'s . 3:20 : Hlok-Fat, Baseball, Ronabue’s or. J. -Dorsey’s Or. 10:00 ews ». ”» i Ee LL EET STE 10:2 ems’ Or. Hines’ Or. nes’ Or. Crosby's Or. 11:00. Baseball " " ni Aisin hasaad Dance Or." Review a » . - Ha Raves "or. » Reigman's s Or. . Pirre’s-Qp. TUESDAY PROGRAMS Ey INDIANAPOLIS INDIANAPOLIS CINCINNATI HICA 1 WFBM_ 1230 i: . WLW : GN i (CBS Net.) BOMBS) { - ) . (MBS Net.) . 6:30 Early Birds Devoti 0! Mugio -Box 6:45 n ni Musical Clock Revelers ugle 7:00 ”» ”» » ” ak Mi %:18 » ... ” - Peter Grant ean Abbey : 7:30 * » . y ASR EE prem Oni, WR 8:00 Kitty-Kelly . Wi [ [§ISEn pm Rhee, ER . 3 ain - 8:45 __ Stepmother Woman in White Betty Bob . fq, 2:00 | Mixy w Bf MiTihe piutimm geeen a Fa ois Linda's Love Road of Life. | Puinted Dreams 10: .Tempos 3 i BE Eee ER jm Eee 10:45 Piano Masie Farm-Home Mail Box = 1:00 Bohemians Singi - 8 11:18 ” we rig de A - EE hl Ss 11: Farm Circle Farm-Home Live Stocks : ! 11: Farm Bureau Happy Gilmans a 12:00 Melodies Betty-Bob i - s 3 i ees FERen TEE BE = : ana 3 E 2:45 Hymns Kitty Keene rzan : li Rhythm IRE Reporter Han Rhythms A: Four Clubmen a B : VFW Parade 18 arty Dale : te Byrd Guiine Ro , Leado! 2:00 t g . { fERsare EET ere ee 2:45 Lorraine Lyries. Police Court Mad Hatterfields * 8:00 Congert or. Martin's Or. ouseboat d "n,n $3 Let's Pretend Master Sin ers Eeiel’s om - its Let» Pr Indige an of Mars » =» 4:00 - 11s Emer Kitt: o Ls Uhanneunced Rergnade, : 3 0’ 4:45 Te Nota TO" Lowell Thomas Orphan Annfe

KEY NETWORK STATIONS (Subject to change): : NBC-BLUE—WJZ, 760; WOWO, 1160; WENR-WLS, 870; KWK, 1350. i NBC-RED—WEAF, 660; WTAM, 1070; WWJ, 920; WMAQ, 670. CBS—WABC, 860; WJR, 750; WHAS, 820; KMOX, 1090; WBBM, 776. MUTUAL—WOR, no; WHK, 1390; WHKC, 640; CKLW, 1030; WSM, ssa,

| CROSSWORD PUZZLE

HORIZONTAL Answer to Previous Pumnle

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