Indianapolis Times, Indianapolis, Marion County, 29 August 1938 — Page 15

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STORRS Tn: AFTER FOREICN POLITICAL NEWS

Heavy Dumping = Follows

European Downtrend; Bonds Also Dip.

NEW YORK, Aug. 29 (U. Pj.— The stock market reacted sharply to the European situation today,

-. - SER, an

Sa8aRa aba

- Indiana’ S Building Activity

1923-1936=0 -

1930 193 1932

1933

1934 1935 1936 1937 1938

—Indiana University Bureau of Business Research

N. Y. STOCKS

By United Press

ow

A SCIENCE SERVICE

S39 AA | | |

ae Jrahot © titi tistics, tac. MA

experiencing its most severe decline ve, mo net | POW-JONES STOCK AVERAGES since late in March. Values of issues High Low Last Change 30 INDUSTRIALS on the Exchange were reduced by 2 83% —— % Saturday ...... greeessiseenns 118 =14 two billions. Bonds’ also receded. : a Week ARO. «--o:liiriii rains. . i Selling w reat that ticker BRAGA" — Ml vear Aro .eoviivniiivninnns 135.98 0.02 wn BS So greal aa 5 3 3 High, 1938, 145.67; low, 98.95 fell behind. Loss extended to more 3% Hw Tu ig 1937, 194.40; low, 113.61. prices. shares were down 1 to 3 81% — 1 |Saturday .......... eviveieesi 28.51 —0.60 points. 10% — 1, |Week Ago «...cooen. reiavie 28.25 —0.20 Domestic “ news was considered 51 — 1: |Month Ago ......ccoernnnnnn. 28.45 --0.01 : favorable, but before .New York Tl + Ya | Year AO ......ociiiiiiiinnn. 49.46 --0.06 opened, foreign markets—London, §0%a — 1a! High, 1938, 32.33; low, 19.00. Paris, Berlin' and Amsterdam—de- § 3. —0 High, 1937, 64.46; low, 28.91. clined. The Street awaited the meet- Pp — 2 15 UTILITIES ys ing of the British Cabinet tomor- = Gia aa row. Meanwhile, many timid holders MET luge at 70.08 of stocks unloaded. 88 — High, 1988, 22.55; low, 15.14. oc i Jest 8% Foums to As 9, = Yo| High, 1987, 33.54; low. 18.85. hrysler was do 0 0 ; pe -— General Motors 45% off 3%; U. S. Bu Tih Net | Steel 5614 off 3%; Westinghouse 18 —1% High Low Last Change Electric 98% off 3%; Kennecott hd Mun He%, 3 B = ‘387% off 2%; Johns-Manville, 93% 10% — % Nw off 3; Philip Morris 125 off 3; Beth- BR TAN CHAS, o.... Hu. uw uo. lehem Steel 55% off 31%, and Inter- 4s — % Nash, Kelv revi 2 I 10, we % at Acme ..... 2 = 4 national Harvester 56% off 3. Nat Aviation .. 8% 8Ya 8 Ta Rails Lead Bond Decline TZ Nat Cuh mer dw dai Hw — i —-— /2 . 8s a $s = : ! : 20%s — ¥ | Nat Dairy ..... 3a 13a 13 .... Meanwhile, rails led an active de- 3, = %|Na Distillers. 24% 24% 37 .... cline in domestic corporation bonds. it — 2iNv Comm .. 1), 1 1B ~- % U. 8. Government and foreign dol- 48% — % | Nat Steel ...... gla 58 58 — 2 lar loans eased S12 — 17 Nat Sup 5% pf. ga fei 8a nd 1% , 74 == “4 |NelsSner ........ iy | — - Selling of railroad obligations was 3 - 7 Newport id vey 18% 15% 13% -_ * goncsh zaien Lia medium priced and 1612 tio Nort, & W pf. 108% I 1 -1 speculative issues. Early declines 8 — 0 Amer ...... 3 — % 103% — Ys | Ni gy 1 Oly =} extended to around 1% points with 30 TaN Preeti ade ad% aM = 4 Northern Pacific, Southern Pacific, PA» —O ‘Southern Railway, Great Northern 137 Z ftionie afl... 0 10 10. : » Yo * 1 3 -— Alleghany Corp. and Illinois Central 2, Tye | Sinan Fars Ei fe gn da i — Otis Steel ..... 107. 10 10% — % Jeading the downturn. More: mod 18% — 1 | Od Marine. 2370 3318 203 .... 2 2 erate pressure although losses in| 1% «eee Pac Am Fish % 2 1% — % this group ranged to around a point. 18s |Bac Coast pi 18 18 8 =i ‘Nassau Eléctric, Postal Telegraph, aci thy % 8% — %|hacifi Nin Lda 152 Bz a International Hydro-Electric and Ghrners & ga lh 2 a= niE aT Vl «14004 14d my Brooklyn Manhattan Transit lines | Celanese ...... 33% 23% 23% — A |Panhandle iii 1% 1% oe 3, were hardest hit. Childs Co. 5s of | Gent Foundry.. 4% 4% 4% — va |Barame Piet ... 10% 10% 10% — . C . / ; Davi 401; 40V. 40% ... 1963 dropped 1% fo 71% but other |Gmsipwsa - 33° 3° J = sine Fim. 10% 8% on Za ustrials held only fractionally {ch MStP & P % % 3% + 'V; | Patino Mines 2 A i under Saturday’s closing levels Ch & Nw Ry... 1 l 1, + Ta|piuem oo de 83% 83% — iA . Chi Pneu T 13% 155% 15% reve | PERNT em: Mik a 3% — ha Curb Stocks Are Lower Gime EPO 02 4 mg Tot |RemomrToia0h 200 20% — % .Climax Moly Co 38% 38% 38% — % reg Curb stocks likewise maintained | Colgate-P-P 123 1204 12% — % iL Moris 138 A 3 early losses ranging to more than |Sol & Aik..... 33 3 3H —1la hil Pot Ris ...19: st 1-84 19.68 “in e : : a0 A oe 2 a point in mid-day trading. Activ-| Co “Blcturss- ici? 00 Spon Plymouth ‘Oli: BE ni 34 — i ity quickened on the decline. Com $l; Si; S05 SPOOF BR Loa 9 ia. Industrials felt most of the pres- Com Solvents Nu IVa 20% = Public Serv 2093 200 203 Je 1 sure. : Industrial leaders on the Gomwlth & So.. 1% ah La — GiPuie Oli 13% Ha Bh mn downturn included Aluminum Co. of | S20% DH — > : , Cons Ajrcraft.. 142 14! Re America, Jones & Laughlin, Carrier Com Edin rts wi ds 84 14-64 1 ‘e4—a-ed Radio. ..... Cc T% T% v, Corp. and Technicolor, off a point | £88 Sif 5:::: $14 ~ 3i¢ 914 :::: |Rem-Rand ...0. 15° gg - 6 : Cont C 2° 43° 15'°y, |Reo Mot ...... 2a 2% 2% “os and more, and Aluminum Limited, | Cont gan ..... 82, 42, 23, — 'a|Republic sti’... 18 18 18 ~—''% a high-priced issue, which sold off | Coty ........... 4% 4% 44 — 3, |Reyn Tob B ... 42%a 41% 417% — J Bt 8 | Richfield Oil ... 7% 1% 1% — % 4 points. Crane Co ..... 33 Jha 35% — Crown Zeller... 13 337 13 oes i Mining shares widened early frac- Crucible S- Ye Hu 8B, = 18% 18% 18% reory, tional declines under lead of New ab re : 7 xe : % Bs — Y nsinee 16 1 — . 111 -— Jersey Zine, off 1%. Fractional Gurtis Pub cane Tv i oo i352 13%, iv — 1 losses were registered in Lake Shore, | Gurtioe- we A... 254 2310 231 — esti So Na Hz Tn Consolidated Copper Mines and Na Wm a a 2 — 3, 1 tional City Copper. Deere & & co ae 19% 2. 10% — hid ais aie = - #8 ov 2 lTDeld Hud: .o.e 4 lg — 4 137% 1 . Dev & RY . 33 33 ash 11, 17, 2Y% — Y% Diam T Mot ... 9% 8% 9% — 2% 310 3st = N.Y. Bonds. Bunetitui 1s Je J J = it i 4 =, Rar ote # % 2 pt BB EL seen 1x 2 oO — Y4 / 5 —-— BOND PRICE INDEXES Du-Pont =.iv...180 120% 12013 — 4% 23% EL a8 ~ 20 2 2 60 Re 2 A Tq Inds. Rails Utils. Bonds Bast R Mill .,. 3% 5% 5% — Lr) sie 2 - 1% Saturday ...... 556 Spe m3 stp pec ANeL... Mk ake 5% 0 00 wh ¥ Week Ago ..... 85.4 58.9 97.9 80.3 Elec Pwr & Li. 10% 10% 10% — joss 20% 30% — Month Ago .... 863 623 984 s2.3|FLPaso Nat G Gas 24% HE nh — --- 31s Sha Wa — 14 Year Ago ...... 9L7 803 1004 940 Erie 1 pf a i Ri Si - a 9% a 8% = ss 1938 High ..... 86.5 170.0 98.5 82.8 | Ex-cell-o ...... 15% Se = — \ 3 3M Me... 1938 Low ...... 74.9 419 ‘81.3 0.7 enFae : . BS 4 13 — ig (Copyright, 1938, Standard Statistics Co.) regions, ot of A 31% 31% 1h T . 42 an 9% 4 : U. 8. GOVERNMENT BONDS rN Sus : 8 Ha Up bs i Bh B= Treasury Bonds Foster eel ig ils 2 3 -— iE 0% 2 8 =n Low . eepPl«i phur. a oa == ail 4 - A 33s 1947-43 110.4 is aC a ‘1a 181, 1 % EEE 50° 1345-40 1083. 10a8'| Gair Robt of . We un un = Se 4B dE Zw gies 1s Pd fam Shon df fhe TF BEAL i Sy 23,5 1951-48 105.4 105.4 gen Cable i’ 113% 11% 11% ly | Ix nsamerics 3 Hd 0 — 4 on ie 1 Gon Moll gl al gt ig | WR CmRET AR wd gE = ow 2%s 1963-58 9 102.9 102.9 gen x Sy 20s 20% 20% —- 1 > . . s BAe oes 06a wea | Gon SSAC HU ME 3 TUM guonmae oun pn omn — ou 82 elias : = o n D / 5 /2 cos : —— 2 DOMESTIC BO 20 lute Fd 142, 4% 184 Zw | Un on cal i : 30% 0 fom TIM High Low Last|GHSHS 3 %5or sar shin se1s oy | Un Aleyaft C27, 26% 0 — 1 Jalen Comp 88 90st our es So jos Cimber Bros... las Isif 32 © £2 | D0 Al Lines .. " 2 it sh? "at $60 cv... % 163 16% | Gimbel pf ..... 607 607 607 — 1% | Unit % 3% — Beth Stl 3%s 68 . .... 99% 99% 9% ; : United Corp .. 23% 3% 2% Va n Na Ry 5s Jul 69 ..116% 116% 1163 | Glidden ....... 212 2: 22, — 1 lUniied Cppt... 82 8 1 —¥ Can Pac 55 54 ..0..... 9813 981% 9814 Sos Brew .. 2% 22 3 United Prog .. 3% 3% 3% — Lig Chi Bur Qu 5s T1 ..... 931% IVs 3s | Sloodvear ~.. a3 i 3 —- n oal..... a Z - oY Chi N W 43s 49cv 513 5 5% year ...... Ts 2712 272 — 1 | Un Paprbd TY TY TY — Cf Ww Ind dVis 63 ;:1 8870 as aw QIAIDWTRRS GA 4A gh — fh USTorsecl sh sh 88 — Ee god 107° 107°% 107'*|Grand Union 0 1% 1% 1% — % (uy § Piped F.. 42° 43° 43° — at Int T & T 4%as 52 .... X., 3, 0 Greyhound Cp . he 182 16% — 32| y's ‘Realty 3 nm Emon Loews Inc 315s 46 100% 100% 100%; Es U S Rubber ... 4334 44 Vy — 13% NY Cent 415s 3013°.1.°55 55 55 | Hall Print ..... §% 8% 8% — % |U S Steel ..... 1% S15 310 — 2° N Y Cen 4l5s 2013n .. B43 541; 54'2 | Herc Mot ...... 175 132 17% — 1, | US Steel pf 3 B13 — Ty Penn RR gn 4lzs 65 97% 96% 96% | Holly Sug ..... 15 15 15° — 1 |Un Stores A.... 2% 3, ay _ 4 Fen RR en ” 48 -.... 1 a 110Y2 110'2 | Homestake 51 65's 65% + Un Stkyd pf.. 92 91a Oi eee Re Tes 100” 100 109 |HoudHer nm 134 1% 19% — 5% Ve FOREIGN BONDS Howe Bound ... 40. 4614 48/3 oo.’ |Vanmadium ..... 18% 18 $5 —- 5 Hud Bay M&S | 29%, 291 12 21°'y | Van Raalte .... 272 2713 2712 — 1; Apr Bl Low Last Hudson Motor . 29° Hd > ye 2 Va-Caro_ Ch 4 4 — 4 Tn Seogh 0a 105% 1053 Hupp Motor ... 1% 1% 1% .... |Va-Car 6 B.. . 25%. 25% 25h — ip Belgium 55 . a Pe 2 y/ / 7 Berio mR gs ia I MU imomust pps noon, [Emmeran mom ow . .e 7 7 tn Le se c00 0 7 4 Ri Canada 3s Tear eaee 3 2% 98% Inspiratn Cop. 14% 1415 141; = s; | Ward Bak 30 9. BH, =2 : Cuba 4lo¢ 77 srieerees 100% 100% 100%, | Interlake Ir ... 123% 137g 1214, — 1, | Warner Bros 63% 6% 8% — % Swoan Sias 85 ..oiia0e 180° 180° | Int Nickel... 8% 47s ama Too | WamePume lib 2 20) — 4 Tokio 512s 61 ......... 46% 46% 46% | Int P&P ....... 9s 9 — % ; 5 bi as : : Int P&P pf .... 4135 41V ar — 9 | Westing EI ..... 0012 100% 100% — 13 . bot Sifene IHD To Bo oo (WM 2 hn cE ve aren s /s ss — a * 4 1; 5. 1 C b St Stee Be 38 2-4 Woolworth .... 43% 4512 45% — hu ur OCRS 's| Worthington... 21 = 20% 21 — a—— —y— Johns Man ..... 95 941 9412 — 2 1 B : Last Change Jonesalen if 63s 61s one = Yellow T° on 5 3 = atom co am 88" 0 18 SHE x pass sw HOR, I ree Kalamzoo Stove 221 221 221, «= 1, | Young Shect . 3 8 31M 3M — 1 Alen hnstis” nin 1, ity, | Kelsey Hayes B: “31s 812 ‘gn = if — Carrier Corp . 231, A 92a — 11, Kennecott ..... 40 39% 39% — 134 | Zenith Rad ... 20% 20% Ye «1% Celinese 1p... 83° 83 8° _ vy Resse dg ...10% 13° 13 3 iid Childs of ....... 47% 47% 47% — - Cities Serv pf... 39 39 39 — 1 wl pt Guide Neon Lis 3% 3% gif L|LenPcem..2:3 2% 2% — FABRICATED STEEL COMIC 03 ald ait = I hr 3 5% Se = 4 BOOKINGS RECEDE El BAL Sh.... Th 1% 1% — %|1oew 1a Dis Sr SM 0 El Bd & Sh 5 pf 49 49 + 49 eses Lovye pt. .reeee 106 12 ne wi — 1% ElBd & Sh 6 pf 54% Bi} Bt —1% Long Bell A’... 4% 1% 4% t 3i| NEW YORK, Aug. 29 (U. P).— ett a -— ard. ....... } Ve ues Glen Alden. 14" 15 Pb = 3 Lorillard pt. 139s 13974 13974 + % New orders for fabricated steel gufon...... 4 4 4 -— 5 Lou & Nash '.. 2? 1M ee booked in July receded slightly from ke Sh M..... 52 51 8. — Ni 85% 25% 9251 the year’s high estabiished in June CEN... 4% 4% 4% — % y 8 a5 le =1, ead ’ Lockheed Air . 1 1 uo. Tn (572 6% — %|pbut compared favorably with avMeWms Dredge. 18 18 18. — % Pf 14% 14% 14% — % Molybdenum .. $9 4% 2° —.b 33s 333% 12% — {a |erage for the first half of the year, Rue Swi HE hy = S412 Sala st —1 (the American Institute of Steel Qbis Olt os po 10% 1083 10% vw 11% 11% 1iv — i3| Construction reported today. Pepnroad ...... 3 2 2. oo 47% 41% 41% — %| The Institute estimated new orSunray Oil % Ve ! — _.%| ders for the entire industry at 87,154 " TA 53 — 1 5Y 5Y 51 eee n 2 : Taggart on. gots 2s oe 1 213 213% 21% + 'v|tons compared with 99,899 tons in Un Gas Ebi: AR at oh 19s 10% 10% — %| June and 158,3¢1 tons in July, 1837. Un Gas pt Lo — ] cove : Wright Harg ... 7% he 9. eeee 96% 36% 26% — Y| With July orders above the monthB= = 322 |ly first half average, “a sustained 951% 95% 95% — 3 improvement in the volume eof new Chica 0 DIOCRS dois $87s 48% — 1% business” was indicated, the Instir 300s 20% 20% . High Low Last 1% 14% = "Yule suid, Avbesion MIg .veecncess 1% 1% 1} | a g Athey Tr Whi ........ s 8 4 4 Bendix Aviat ... P23% 22% 23% Bliss & Laugh 19 19 Borg Warner J .33 33 Brown F&W 8 6% 6% : Butler Bros : 3h 2% TE BU | I ER ’hgo Cor . : Chgo Corp cv pf. kp Wh 3% : DO WE EATS Chgo Plex Shaft 63 63 63 Conan Tams 17% 171% 17% 9178 Sia th \ Edison wi . 24 22 22 . om L SO 1% i aaa’ i 7 : 17V4 J n ei

DIP SLIGHTLY IN CAUTIOUS TRADE

Export Program Details Are Awaited; European Situation Felt.

CHICAGO, Aug. 29 (U. P)— Wheat prices eased fractionally in cautious trading on the Chicago Board of Trade today. At the end of the first hour of trading wheat was off % to % cent, corn 3% to 3% cent, and oats were unchanged to J cent lower. Many traders were inclined to await further developments in the Government wheat purchase and export program. The tension of the European political situation caused some nervousness. Liverpool wheat fell off on late selling to close % to 3 cent higher. Winnipeg was off % to a cent at the end of the first hour, while Minneapolis and Kansas City were slightly lower. Foreign demand for North American wheat was reported to be flat over the week-end, most buyers awaiting developments in the export. plans. of the U. 8. and Canadian Governments. It was reported that Rumania sold more than 14,000,000 bushels of wheat to a British firm. Corn prices eased under scattered selling. Some buying was credited to export interests with England showing some interest in American corn. Receipts of corn in Chicago today were estimated at 243 cars. Pur-

chases bushels with more working. Wheat receipts were placed at 28 cars,

t

Points to Dangers of Wheat Overseeding

Times Special WASHINGTON, AN. 29. —World

wheaj prices for the 1939-40 market- | ©

ing year will remain low relative to prices in recent years unless there is

a material reduction in acreage next year or a considerable improvement in world economic conditions and price levels, the Bureau of Agricultural Economics reported today. However, if domestic production from 1939 harvests is reduced in line with domestic disappearance, United States wheat prices in the 1939-40 marketing season “probably will average somewhat above world levels,” the Bureau said. “The extent of participation by

farmers in the acreage adjustment

program is uncertain, but if total seedings are reduced to the 1939 a of 55 million acres, and average yields per seeded acre are obtained, wheat production in this country next year would amount to about 660 million bushels. This is about 20 millions less than the aver-

age annual domestic disappearance, |.

and would provide an opportunity to bring abeut a reduction in carryover stocks.” A production of 660 million bushels might raise domestic prices

but the prospective large carryfrom the 1938 crop would tend to

32 | above world levels, it was or

% | offset the influence of the smaller

crop. Large prospective carryovers of milling wheat on July 1 next year assure ample supplies by classes, | the Bureau said.

CHICAGO GRAIN

CAGO, Aug. 29 (O. Baga i RIgAGe irrefular today. Wheat—Si 64%c, off Ya@%c; Dec., 66% Hie@unchan he May, Corn—Sep t., 5 Ha Sac, up % or otf AE May, up Y% to off Yc. Oats—Sent., 2 4c, up dsc; Dee. Vas 5Y%sc, unchgnged to up lac; ie 2 He un Jee Yae. Winlipeg Wheat—Oct.,

Dec., 65%sc, up lac; J Gauss, unchanged. : P Yao; May

tures S67!

WAGON WHEAT

Cit rain Slevators are paying for N Bs red. fac: other grades on {heir merits. 20;

h eorn, new No. 2 vellow, 5lc. Oats,

AT (U. 8. Bauivalents So on. Sterling

High ei oy ose QO. envi + .$0.783% : Ti 0. ose De 7534 5 $07 7438 $0 Kn te a1

12% LOCAL ISSUES oh, following

or Sffer Tings

dicate She ADEs , but merely

market level

based on buying and retin inquiri recent transactions: 8 nguities of ‘ Stocks Bid K AS Belt RR & St Yds com ....... 49Y Belt BE & Stk Yds pid 110] 5013 2 s Ind Power 7% pfd ...... 1972 211; Hom T&T Pt. Waene fo; % pid. 52 54 Hook Drugs Ine com .......... 11 13 Ind & Mieh Blec 7% pid ..... 196'a . .. Ind Gen Svc Co 6 id. 55 £8 Ind Hydra-Elestric 7% pid 59 63 Se traaen ns eiy 14 wie Indbis Pan ee of Bld 4 rors 93 96 s 0 612% pid ..... 98 1 Indpls P&L Co 6%... P iss shes 83 106 ndpls Water Co 5% pid ...... 1025 ..... Lincoln Nat Life Ins Co com. 22 241; Pub Serv Co 5'2% pid. 63 66 N Ind Pub 8ve Co 7% -....... 6 79 N Ind Pub Sve Co 6% pfd 70 73 XProgress Laundry Co com 12 14 Pub Svc Co of Ind 6% pid .... 19 22 Pub Sve Co of Ind % pid ... 35 38 So Ind G&EIl 4 8% Ra 88 01 xT Haute Elec pid ..... veeens 97 100 Union Title €o0 com .......... 24 27 an Camp Milk Co pfd ....... 0 6215, Van Camp Milk Co com ..... 10%2 11% ~~ BONDS

YIANAP(

WHEAT FUTURES

to arrive reached 61,0003

quotations do not repre- oa

FA g. J Market 10c higher;

Porkers Climb 10 Cents as Top Goes to $8.75

loss in a 10-cent higher trade here. today on weights above 160 pounds, the Bureau of Agricultural Economics reported. Trading was active on receipts approximating 8000 head. Lighter weights were mostly steady.

The practical top price was $8.75, paid for good and choice 220 to 230pounders. Two loads of strictly choice 234 and 224-pound averages reached $8.80 and $895, respectively. Fairly liberal receipts of approximately 1800 cattle included around 25-cent lower slaughter. steers and yearlings and eight loads of heifers. Receipts also included around 300 western yearling stockers and stock calves. Fed steers and yearlings valued at $9 and above ruled fully steady, while plain and medium grassers found a narrow outlet at weak to lower prices. Bulk steers sold from $9 to $10.75 and several loads of grassers from $7.50 to $8.75. Plain, medium and good grade heifers moved slowly at weak to 25-cent lower rates, largely $8.50 and down. A few cars of good sold up to $9.25. All grades cows and bulls showed strength, odd good fed cows selling from $7 to $7.50. Most grass fat cows brought $5.25 to $6.50, cutter grades $4 to $5.25. Weighty bulls made $7 rather freely. A decline of mostly 50 cents in

$10.50, a few choice sold at $11. All grades fat lambs sold about in line with final figures last week, with good and choice ewes and wethers bringing largely $8.50 to. $9, top handyweights selling at $9. Cull and common underweights were most numerous from $5 to $6.50.

9.00 1500 8.80 95317 8.55 677 8.70 4423 8.80 6120 8.80 9678 8.65 2500 choice. .$ 7.25@ 8.50 choice.. 8.00@ 8.45 choice.. 8.40@ 8.55 choice..’' 8.45@ 8.70 choice 8.50@ 8.70 G choice 8.25@ 8.55 choice 7.65@ 8.30 cking Sows— y (275-550) Medium ....cc00.e 7.10@ 1.75 (425-5 Hell] CRETE sessesae 6.85@ 7.35 (340-425) Good eseseranse «es 6.35@ 17.00 (275-350) GOOA ccovveavsase . 6.00@ 7.10 Slaughter Pigs (100-140) Good and choice.. 6.75@ 17.50 Mediu 6.50@ 7.25

Calves poRecelpts, 50— -

Common and medium ..qes.

CHIC. Aug. 29 (U. P.).—Hogs—Receipts, Fry 520. AE amg 4000 directs; slow, around steady; few arly bids and sales, Cattle—Recei is, dy. Sheep—Re

+ sits ay. (U. Yr 220-240 Ibs, $8. 4: 2320 Boo 1bs 240-: 0-280 1bs., i 88. 15; 60-38 $8.20; 4 300 En Ibs, $7. Ti: 325350 1bs.., $7.6 ad | Yi 60 1 0.8%; 30; 120-140 Ibs., 56. 80; 100 130 lbs ay $6; $4.75: lambs, $8.50. INNATI, Aug. r.. Yio: BRE I LE marget, Iair 850 oe er: thd 275 1bs., 50: 100- %

top vealers, $11. ; 90 direct; lambs weak to 25c lower and choice early offer8.75; plain to medium, $6@8: at $3.50 down for auger

YETTE, Aug. 29 (U. P.).—H Ly 200 Ibs. $8.10@ 70; 300° ge $7. 90@8. 20. Pigs, 5 down; calves, $10

8. 00-250 1bs., $8.5 $8. 30@8. 45; 280- S325 ibs. $7.50 down; roughs, 38 @10.50; lambs, $8@8.

DEPARTMENT STORE VOLUME DECREASES

WASHINGTON, Aug. 29 (U. P.)— Department store sales for the week ended Aug. 20 declined 9 per cent from the corresponding period last year, while volume for the four‘week period showed an 11 per cent drop, the Federal Reserve Board reported today. The St. is district reported a

231, | gain for the week of 5 per cent, the

(By M. P, Crist & Co.) Market St. Investment Corp.. 23.57

25.34

CORN AND WHEAT REGION ' OFFICIAL WEATHER

lesenanBY UO. 8. Weather Brest mee CROF WEATHER 29, i

—Aug. recipl- State of golitians : mn In low Presa! Weather 0 “Cloud vay 8 8 0 id 000 1 0 eT ..e5. 85 4 : Ia ayette &iiy’ 0 4 : mmemcii fg 8 § vincennes ,..,, a A Paoli i...... ry 8 : Ft. Wayne xc 0 Indianapolis... 81 0 Terre Haute ... 78 28 Evansville ..... 72 :

only district showing an increase. For the four-week period St. Louis reported a decline of 6 per cent.

U. S. STATEMENT

WASHINGTON, Aug. 29 (U. ¥3.—Government expenses and receipts for the cur-

rent fiscal Fear through Aug. 26, compared with a yea > E $1, sel S08 400.01 $1,195 458.485. 54 Xxpenses . 3 5 y Rovaibi ©. '764,879,588.25 821,122,208. Gross Def. s84.8.501.76 3171,336,074.15 Net Def. ,192,501.7 371,305,524.1 Cash Bal. + 3.246.930.087.91 2,892,297,029.6! Work Bal.. 1.G50.271,956.54 3,039,794.65 El mk, 2 GR) Beg 0. STV. » Customs .,” ' 48, :094,703.11 74,869,767.92 INDIANAPOLIS CLEARING HOUSE Clearings ......... Seas shsanes $2,965,000 Deb ehits SL franks pam,

Hog "prices recovered Saturday's

vealers left the practical top at

(750-1100) [email protected] 900-1100) CO cesees save en [email protected] (1100-1300) [email protected] 13001200) « [email protected] 750 8.715@ 9.75 (900-1100) [email protected] (1100-1300) [email protected] (1300-1500) [email protected] (i159-1100} ediUM ceveococes 758 800 h-, CAIUM ees. nc0r Al + (750-1100) Medium (plain)... 6.35@ 7.50 Helfers (750-900) Good ........ ceases 8.50@ 9.73 (550-900) Medium ...... eees 1.00@ 8.50 (550-900) Common .....e.s. B.75@ 7.00 Cows Al Weights ood ...... masiue ies Sraeses . $3 7.00 Sechun vasa senne tisaaasarves 8. 6.25 COMMON cxassrervvnnsansose 5.00@ 5.50 Low ier and cutters...... 3.75@ 5.00 wa Yearlings BExclud (All weights) Sona (beef) .. 6.50@ 7.28 (All weights) Medium . ...... 5.75@ 17.00 Cut ter and cOMMOD ....c.es 5@ 5.75 Vealers an weights) Choice. . . [email protected] i. (All weights) Good....... a». 10,[email protected] (All' weights) Medium....... © [email protected] Cull and common............ 500@ 8.50

1350-400) Choice ........... 8.000 9.00 A Goo Ne reaevasvinnss +000 3.00 . Medium vesvevees $0 .00 Common ......... 5.00@ 6.00 Feeder and Stocker Cattle Steers— (500-800) Cholf® .c..eoseeess 8.00@ 9.235 800-1000) ChofC@ .ssespsnsess 8.00 IN $390; 300) Good . 7.50@ 8.25 (hoo 50) ¢ 3 39 8.25 500-1030) Medium 6.75@ 1.50 | (550-750) Good nd choice. 1% 34 Het Common ,......,. 6.0 ,00 (550.750) Sood and choice. , ng 8.00 Common, medium. 6.00@ 7.00 Sheep and Lambs —Receipts, 50— Spring Lambs— : e holes aye PIN $7 3% Gon tassssessnvensvenvivess 8.30@ 8.95 Medium ...coev0ae vessesesss 1.00@ 8.25 Sommon esvesavsssnvenssaces 06.00@ 7.00 So Good and cholc® .....en000¢ 1.50 2.00 : 1:00 17

: | Gas (a : Teas Ey

SEES NEED FOR HOME BUILDING

Banker Says Present Rise Will ‘Hurdle Tax Increases.’

CHICAGO, Aug. 29 (U. P.).—The need for new home construction is so pressing that the preesnt build= ing rise will hurdle successfully increasing costs of local, state and Federal Government taxes, in the opinion of D. A. Fraser, Mortgage Bankers’ Association of America -president.. Mr. Fraser said, however, that any decrease in Governmental expenditures will be a major factor in promoting further increases in new construction and announced that a discussion of taxation and Governmental expenses will be an important feature of the 25th annual convention of the associa#on, to be held here Oct. 12 to 14: ’ . To illustrate the increase in Governmental costs in the last 25 years, Mr. Fraser pointed out that the gross per capita public debt has increased sharply in that period.

Home Ownership

Easier, League Says

Times Special WASHINGTON, Aug. 29 —Home ownership is easier and more accessible to the average American family than ever before in history, the New York State League of Savings and Loan Associations reported to the Federal Home Loan Bank Board today. John 8. Fitzpatrick, League president, in commenting on the-report in a letter to the Board, said: ‘

.

“Tailor-made loans to finance

i homes now are cut to fit the needs

of the individual borrower. Instead of a blanket mortgage lending policy. which the prospective home ‘owner had to take or leave, savings and loan associations now make loans to match his pocketbook, allowing him up to 20 years to pay if his needs require that. “The average home-seeker today is looking for a much simpler home than he did in the Twenties. A man who wanted a $15,000 house then, upon which he expected to leave a permanent $3000 first mortgage, now buys an $8000 house, with the resolution to pay for it in full through an amortizing plan. Likewise, the 1929 $8000 desire is now reduced ta one from $4500 to $5000. “Savers looking for investments for their funds are concerned primarily with safety rather than size of return. This is evidenced particularly by the growth of private Share investments in these associaons.”

OUTLOOK GOOD FOR U. S. APPLE EXPORTS

Times Special WASHINGTON, Aug. 29 (U. P.) — Improved market outlets for American apples and pears are expected

in Europe during the coming mar-

keting season, according to reports received in the Bureau of Agricultural Economics from its London office. The better prospects this year

are attributed to the considerably | 11

‘reduced: crops following the frost damage which occurred in most peat countries in April and

Apple crops in the: important ap‘ple importing countries will range from moderate to poor this year, the Bureau said.

DAILY PRICE INDEX

NEW YORK, Aug. 29 (U. P.)— Dun & Bradstreet's daily weighted price index of 30 basic commodities, compiled for the United Press (19301932 average equals 100): Friday trsesisresrsissseseess]0398 Week ago cesenrssrecncnenss. 104.21 Month 880 ..cvceeeversenees 104,40 Year ago ...... seekrine ars 137.14 High for 1938 (Jan. C10, 117.06. Low for 1938 (June 2), 102. 83.

FOREIGN EXCHANGE

NEW YORK, A 29 (U. P.).—Forei exchange lower. Following are noon cab rates on major currencies: Cable Net

Trane) .... Belgium (belga) ... any (mark) ..

Norway (krane) Denmark (krone) .

LOCAL PRODUCE

Poultry—Heavy breed hens, 14c; Leghorn hen 130: heavy breed pial llérs 3 Ios: a nd over, 13¢; Barred and LR Brin = 10 TE pe is ares s an y i Tos ed ove £10; bareback broilers,

Id rooster: oC eae T A triotly fresh country run, 11 case must weigh 55 lbs. each full

2175

26¢c. Butter fat—No (Prices 2 quoted by Wadley Co.)

FOOD PRICES

HIOA ug. 29 (0. >) michigan tae cal althies. bushel. ers, 75@85¢. Ton Ton Sp! pidge lien,

oma ichi Caulifle er Solory BS i highbeil crates, sate.

He Req sin. 5.

A SAFE DEPOSIT BOX

ALL SIZES =

MODERATE RATES Q

AMERICAN NATIONAL BANK

Southeast Corner PENNSYLVANIA & MARKET STREETS

Do You — "a Man Who Could Quai? on AFEW CAPABLE MEN

TONIGHT 6:00—~Monday Show, WFBM. 6:30—Margaret Speaks, WIRE. 7:00—Orson Welles, WFBM., 8:30—Robert Ripley, WIRE.

Those who have been searching for something brand new in radio may find it by dialing CBS-WFBM at 4:15 p. m. tomorrow. At that hour, Columbia is going to broadcast the end of the world! This special and cataclysmic event, is might be added, is purely hypothetical. The Fels Planetarium in Philadelphia will be the scene of this play-by-play description of the

earth's swan song, with Alan Scott

as narrator. There’ll be sound effects, too. Scientists\ agree that when the earth cragks up, the four most likely ways will be these: 1. The sun may burst with a sudden wave. of intense heat which would destroy all earthly life instantly. 2. The sun may cool off, making

it so cold that life would be im-|

possible. : 3. The moon may move closer to the earth, causing huge floods. 4. The moon may cause volcanic activity and continuous earthquakes which would blow the world to bits. It may be that critics won’t have a chance to check on the broadcast’s accuracy for a few million years. right. the sciéntists insist they are ight ‘® ” 2 If you have recovered your composure, here are a few less alarming highlights of current radio interest. Frank Black and the NBC String 8 8 »

ON THE RADIO

Symphony will begin a new series at 7 p. m. today on NBC-Blue. The series will be heard on Monday at

until further notice. The series will be beginning its fourth season. On the first program, Dr. Black has included his. own transcription of the Beethoven Piano Sonata, Opus 7; Arensky’s Variations on a Theme of Tschaikowsky; a Canzonetta and Romance by Sibelius, a string orchestra arrangement of hd Bach E. Major Sonata for violin alone. a 2 =

Bernard Herrmann will devote a half hour to music by the 18th century Italian. Vivaldi, and the contemporary Englishman, Ralph

morrow on CBS-WFBM. . . . Ane other CBS musical broadcast, not on WFBM, will bring you the voice of Leon Rothier at 4:30 p. m., immediately following the end of the world. Mr. Rothier, basso and 29-year veteran of the Metropolitan Opera’s French contingent, will sing compositions of Gounod, Cadman, Gluck, ‘Wolf, Hue, O'Hara, Massenet, Leveridge, Schindler and Berlioz.

” 2 2 The evening's Mercury Theater

thriller of intrigue and adventure,

Adapted, directed and acted by Or

genius, it will be the eighth in the Mercury's first broadcast series and may be heard on CBS-WFBM at

7 p.m,

THIS EVENING ’3

(The Indianap olis Times is not responsible for inaccuracies In progr ale nouncements ag by station changes oo ens time.) si vrogtam

INDIANAROLIS INDIANAPOLI WeiNAT w 1230 Wike'l 1406 5 ° Wide Sant Net.) (NBC-MBS) (NBO S) Al Net.) - 4:00 New Spitaln or. Spitalny’s Or, €15 O'F Milhousna Nows™ " Unannounced Penumbrs 4:30 Tea Tu nes Intgrviews Sport News : Meh 4:45 Lowell Thomas ed Annfe 5:00 WPA 8 ki A B rt EE al ea . 8S. 88 Jo. Carter Basonology ' P. Sullivan Bob Elign §:00 Monday Show Looking In Robert Ripley Contrast Studies én | Margaret Speaks Richard Crooks Lone Raper a:00 Mercury Theater © Cherniavsky’s Or. Century Ficht Crosby's, Or. 130 "on Grant Park © Myste h e ps3 iH] om 3 we Mygleriey Fomorrow's Tew. an W. King's Or. Contented Hour Trug-False Del} Concert’ 8 18 Re Derby Robert Rivlev Minstrel Man Melody Pageant 9:00 -And: A =A! no» 5 Binee’ Fa, on ewe all y Kresu yr on Sheree Hoffm a Sids Be Motoy's Or Er Be 10:00 : ” » , '. 10:15 Boxers’ Or, ». faa) Sallivan Kogyo or ; 19:3¢ We Or. Hines or. Hines’ Or. Crosby s,, OF. 11:00 © Serenade Baseball Scores Review vo ese 11:13 Ambassadors Dance Or. Orchestra ho" J 11:30 Ramonas Or. hon Keisman’s Or. Pirgo'’s Or. 1

TUESDAY PROGRAMS

the same hour, except on x 12, :

Vaughan-Williams, at 3 p. m. toe

offering will be Dumas’ perennial

“The Count of Monte Srl, 3 son Welles, the Mercury's youthful :

{ |

INDIANAPOLIS INDIANAPOLIS CINCINNATE cag (CBS Net.) (NBC-MBS) (NBC-MBS) (MBS Net.) 6:30 Early Bi 0 Musio Box gas il Boston e Clock Revelers ww" par 7:00 2» 2» : i. Morning . B ii gee EGE BES 1 - News Hollywood News : 8:00 11 : i © Crag {EEE parE Belen, omar | 8:68 St, gies or Woman in White Bet tty-Bob ijetien, 9: "David Harum Golds : al 9: n x Spon B0 r Siines Lorenos Jones ie 33 i ha | 818 Unannounced Summer si Sine Tt & Real tite Linda’s Love Road o 3 tor’ 9 Dmheus ERINN BOR et % 10: Mrs. Farrel News-Weather 10:45 - “ {ano ’Musle Farm-Home 11:00 Bohemians Jose our » » Dr Gan = | 11: Fi Cirel ” ive Sto 8 | Hf pmgne, ho re Stocks, Seigien 1 -Bo 1 a Bm Gipmoow paER BADOAGS 12:45 w Hymns Kitty Keene Frendnerns or. ! Boe. EE BRE pre. | 188 Mavis baie ohn or uidine Light ' Leadoff 3 ing’s Wife = Baseball 13 ngs Emel Bama tT: 2:45 State Fair Police Court Mad Hatterfields » 0» 3:00 Concert or. Martin's Or. Hass ousebs en cal h. : : . 4 ”: ”» i 1 Lets Prstend Haier Siareny Eola! of ars » ” 00 BP ; b ill 12 Hd Bre on Bao Reda : a 4:45 Tong .Nola Day Pau Thomas Orphan Annie

KEY NETWORK STATIONS (Subject to change): NBC-BLUE—WJZ, 760; WOWO, 1160; WENR-WLS, 870; EWE, 1350. NBC-RED—WEAF, 660; WTAM, 1070; WWJ, 920; WMAQ, 6 CBS—WABC, 860; WIR, 750; WHAS, 820; KMOX, 1090; REM, 776.

MUTUAL—WOR, 710; WHK, 150; WHKC, 640; CKLW, 1030; WSM, 850, \

CROSSWORD PUZZLE

HORIZONTAL Answer to Previous Puzzle

10 Falsehood. -

1, 8 President of 11 Sea eagle. Columbia 15 He was once University. -— for U.S. 12 To regret. 18 presidency . 13 To dismay. ge. ! ? 1] 8 2118 To strive aftep, 14 Ozone. EISICIORITIS) (TIEITIHIEIR]S) 19 —— of stu15 Folding bed. ~ ISIMAID|1|T] dentsarein 16 Shrub yielding _ [1 [ML his care, ipecac. ICIUITITIE IR] 21 Musical note.

17 To acquiesce. 20 Form of “a.”

21 Three. 22 Migrations. 23 Falsifier. 24 Evergreen emp gy a frges. 4 30 To run away. oward. 41 Road. 26 Female -deer. 42 To oli glide away. “ Diag: ; ble 46 Apple center. 20 fume. letter. 47 Kind of 30 Bugle plant. lettuce. 31 Containing 48 Silkworm. ore. 49 Artificial silk. 32 Platform. - s1Ratite bird, 34 Postscript. 52 He was ap35Plant. - pointed presi36 Measure of . dent early in iS em,

22 Rows of series 's] 23 Not fat. 30] 24 Prediction. ol 5 35 35 Tun tin plate) 0

53 His university > Cistern. is in ~~ «32 Danish person 1ty

35 Sleeveless VERTICAL 4, 82% 2 Metal. 38 Shed. 3 Slash. 40 Fool. " 4 Pronoun. 41 To bellow. 5 Water of 43 Sheltered \ baptism. place. 6 Monkeys. 44 Cavity. 7 Mineral 45 To sin. spring. 47 Dove's cry. 8 Wheedling 50 Affirmative talk. ; vote. 9 Stints. 51 Form of “me. ».

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