Indianapolis Times, Indianapolis, Marion County, 13 September 1938 — Page 17

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THE INDIANAPOLIS TIMES

LIGHT SELLING, |Porkers Recede WINNIPEG LOSS 15 to 20 Cents LOWER WHEAT Steers at Hig

Corn Also Off Fractions; Demand Insufficient to Meet Supply.

TUESDAY, SEPT. 13, 1938

LEADING ISSUES’ GAINS SLASHED | TO NET LOSSES

Motors, Accessory Lead Downturn: Steel Drops.

PAGE 17

1 = LL ££ FACT AIRPORTS & LANDING FIELDS

"31 EARNINGS OF UTILITY SEEN AS BELOW AVERAGE

Indianapolis Power & Light Balance Is $965,160, SEC Reports.

Y. STOCKS

By United Press

NN.

—

30 INDUSTRIALS 41.90

-—1.01 --1.46 +4.9%

Net |v Low Las Ch nee Se eyay 1 11} 107 49'2

Hig 5 631! . 107% 491, 1834

HH 8 % Month ago A B : 180 ne Te Year ago m ank Note Va 33g - 4 . « [3D Sank oot 19's 19a -- ls High, 1938, 155.631 low, 98.95. {Am Enc Til 5 5 ooo | High, 193%. 194.10; low, 113.64. |Am & F P 2 pf 8 81 + Ya 20 RAILROADS {Am Pur & 1 i ‘ie a

Am Rad & £8 155 Issues Am Roll Mill .. . U. S.

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Hog prices declined 15 to 20 cents here today on a run of around 10,000 head, the Bureau of Agricultural Economics reported. The loss was in sympathy with downturns at nearby points where increased supplies also worked lower under an apparently narrower outside call. Weights scaling above 160 pounds were off the full 20 cents here,

+0.02 ro 20, —0.30 40.2) + 1.08

MOUNTAIN wy CENTRAL 243

| Yesterday “sp Week ago Month ago | Year ago High, 1938, 32.33; low, 19.90, High, 1937, 61.46: low, 28.91, 15 UTILITIES Yesterday 4 Week ago . 5 Month ago Year ago High, 1938, High, 1937,

EN. roar L 397

100 Ui a 00

Seatir Sm

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PACIFIC 267

x 15 CY Ba fl pk fod

Br rr LS

S. ATLANTIC 343

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A "&T ig Am Water W Anaconda Armour Ili Asso Dry Atchison Atl Refining

By DANIEL M. KIDNEY W S. CENTRAL 236 Times Staff Writer WASHINGTON, Sept. 13. — The Indianapolis Power & Light Co. although it showed a balance of $965,160 after meeting all operating expenses and fixed charges, was less prosperous during 1937 than the utility industry as a whole, the Securities and Exchange Commission disclosed today. The balance, the SEC said, amounted to 6.16 per cent of the value of the company's common stock and its surplus. This figure [compared with 7.07 per cent tor the |power and gas industry as a whole, embargo on tune broadcasts from (based on records of 150 companies. |the Cole Porter show, “You Never Analysis of the company’s 1937 re- | Know,” tried out in Indianapolis last spring and due for a Broadway opening shortly. Tonight Hal Kemp will sgive the millions who didn’t see the show's tour two first hearings of Mr. Porter's songs. They are “For No Rhyme or Reason” and “At Long Last Love.” Also included on the Kemp broad-

CHICAGO, Sept. 13 (U. P)-— ’| Weakness at Winnipeg and selling | ht igh and. pigs 15 , i i . . {with lighterweights g 5 by DMinnenpulis Vjieresia turned | ts ar The topwon 220 to 240wheat prices downward on the | hound butchers dropped to $9.15. Chicago Board of Trade today. {Buyers tried to reduce all weights At the end of the first hour of 25 cents on opening rounds. trading wheat was off 15 to 3 cent, | A new high steer price was made corn was 14 to 4 cent off, and oats |for the gear when a car of prime were 5 to i cent lower. | 1385- pound bullocks sold at $13. Trading volume was only moder - | Vealers regained most of yesterate with little demand evident to day's decline strong to 50-cent loffset the light selling pressure. ! higher dealings. A few choice sold Continued lack of export business at $11.50. : was a weakening factor in addition| Receipts of 2800 cattle comprised to lower outside markets. Scattered mostly fed steers and yearlings. export business in Manitobas was Around 60 cars of these grading] ® reported. | mostly good or better moved ac- | Winnipeg tively at strong to 25 cents higher than a cent in the first hour while prices with the maximum gain on {Liverpool wheat rallied from the choice and prime grades valued at ‘day's low to close !s to % cent $11 and over. ne. Continued pressure of con-| Fat lambs cleared about in line turns was made to the SEC Com'tinental offerings was a depressing | with yesterday's sharp decline as Missioners by C. Roy Smith, public [factor abroad. |the top remained at $8.50. Other | utilities division director. The report | Corn-prices were sligl 1tly lower on {fat lambs, mostly with bucks in- | covered 150 gas and electric operat{scattered selling. Liverpool reported cluded, went at $8. Plain and| ing subsidiaries of utility holding | no improventent in demand for medium grades sold largely at $6 companies registered with the SEC. | | American corn. (to $7.50. The report showed the company Receipts of grain in Chicago to- had total earnings of $11,359.426 in 'day included an estimated 50 cars |S; 1937. Net operating revenue of corn and 29 cars of wheat. 7lamounted to $3,803,544 after deduc-|cast will be an instrumental novelty tion of expenses totaling $7.555,883.| called “Whirling Dervish,” from the Y / J 2 The expenses included $3,502,397 for | forthcoming picture, “Garden of the CHICAGO GRAIN Sr $1.695.820 for taxes, $880,- Moon.” Also Harold Mooney’s dance A. Soh 8 I Bat C iy Ju |629 for maintenance and $1,459,037 arrangement of Debussy’s “Reverie,” bey S15ac, off ac; Becer nber, 627% @ 6: Sac {for depreciation. first done into swing time by Larry JED 1a 13 off jue May. Stisubtin Page, 2|" The balance of $965.150 remained Clinton. Dial CBS-WFBM, 8 p. m. off 3g@lsc; December, 491ac 3 after the payment of $1,875,450 in # De i on en, [funded debt interest and $886,435 in Boe stock dividends. The Indianapolis Power & Light

55 Ryve-—-September, 41!;c, off C 1; 14215¢, it Winnipeg Ww heat—Oct ober, (975.550 ‘ B30) Neqnm Co. is a subsidiary of Utilities Power & Light.

6lc, off ac 2 “December, 6lc, off lac: May, 275 Funded Deft Ratio Down

U3 1 64340c, off Jac. (425. 5001 Good 2 a 1340-425) Good ’8 WAGON WHEAT (275-350) Good g Sip Lain Ditenlons are SATIS OL N0 (ssueiver piv. - hy VALS 100- ) Goo h Sash ort: Ho» AR) Soy once, In 1937, the SEC reported, the —CATTLE— company’s earnings were 2.08 times —Receipts, 1791— its funded debt interest, as comSteers {pared with 2.58 for the industry as Shojee 'a whole. The earnings were 1.33 | times its fixed charges and preferred dividends, as compared with 1.57 for all 150 operating companies. The company deducted 12.85 per cent of its gross revenue for depre50, ciation as against the national aver|age of 9.71, the report showed. { Taxes amounted to 14.93 per cent, as| compared to 12.55 as the industry average.

tow © NORAD O In -]

Gds. 9° NEW YORK, Sept. 13 (U. BP). —}4 Doe Prices turned lower in the Say alte noon on the stock market afte e of Iractions to Fo

ance

35; Bait & ~ xy. Balt & . 04; Barber Asphalt { Barker Bros Bendix Avn Beth Steel

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—_

Net A SCIENCE SERVICE FEATURE NY C913

Change |

Symbols © Pictorial Statistics tac

ON THE RADIO

TONIGHT of a series which the Union in=-

. y augurated in 1924. There will be 8: Wat Cornurs Thowier, a: music by composers from Argentina,

: i TRE Brazil, Chile, Colombia, Cuba, the Sailer MeGes. NE Dominican Republic, Mexico, Uru- > 2 ! guay, Venezuela and the United States.

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issues sagged to net advances. Chryff 3% from its high ors and equipments

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McK & Rob .. { McLellan St ... { Miami Cop {Mident Pet . Midland Stl.. Mission Corp Mo Pac pf .. No Amer “han {No Am Avn Norwalk T

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Otis Owens mm

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Government Bonds Up

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As announced here last week, Producer John Shubert has lifted the

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# Prof. Benny Goodman is going to conduct a laboratory experiment this evening with the assistance of | Associate Prof. Fletcher Henderson. Mr. Henderson, who makes many of the Goodman arrangements ‘be=sides running a band of his own, will take one. of said arrangements apart and put it back together again. { Mr. Goodman and his musicians will lassist in the step-by-step demon!stration. The subject for dissection: “Blue Skies.” ”

S. Government ob- #8

domestic

substantial

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Columbia’s “Four Corners The= ater” continues its consideration of that theatrical phenomenon, “the rural drama, with a breadcast tolay of George W. Baker's “Among the Breakers” (6 p. m.,, CBSWFBM). This play never has seen Broadway, yet, according to its publishers, it has had 130,000 performances and States Marine Band, Capt. Taylor sold a million copies since it was Branson, conductor, and Ramiro (written in 1872. Its theme is of Gomez, the Cuban tenor who 1s in| bitterness and regeneration, with a this country for a picture appear- lighthouse keeper as the hero: its ance and CBS broadcasts. message won its clergyman-author Tonight's program will come fromthe perhaps overenthusiastic title Washington, and will be. the 89th [Hf “Shakespeare of the Vestry.”

8 # » # # 2 THIS EVENING

(The Indianapolis Times is not responsible for inaccuracies in program ane nouncements caused by station changes after press time.) INDIANA POLIS INDIANAPOLIS WFBM 1230 WIRE 1400 (CBS Net.) (NBC-MBS) Sabin’s Or. N

ews Marlowe & Lvon Nola Dav

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Barrows and Gilts (140-160) Good (160-180) Good (180-200) Good (200-220) - Good y2z0- 250" Good (250-290) Good (290-350) Good

cking Sows—

.$ 8.00@ 8.60@ 8.90@ 9.00% 9. 05m 8 90a 8.25@

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

and and and and and and and

Curbs Also Higher

Cd pt ut ar @ NN

te d u p-! 1 . Prices I 0 more than rreept

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The third and last of the season’s Pan American Union concerts is to be broadcast on NBC-Blue at 8 p.m. Participants will be the United

Socony Vacuum So Cal Ed South Pac South Ry South Rv Sperry-Corp . Spiegel Inc or

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NB RNDD NN SION 2553

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best showwas up Aluminum Technicolor each. Alum-| 3 points

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: SHIPYARD BOC BOOM * ENDS IN BRITAIN

: : England’ s Position as Builder Shaken by Foreign

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(750-900) (900-1100) 1100-1300) (1300-1500) (750-200) (900-1100) (1100-1300) | (1300-1500) .e 9.504 11.00} (750-1100) Medium d 1100-1300 Medium (750-1100) Common (350-750) Choice

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CINE INNATI WLW 700 (NBC-MBS)

Sahin’s Or. Unannounced Paul Douglas Lowell Thomas

CHICAGO WGN 720 (MBS Net.)

Leadoff Man Airliners

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(plain)...

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“TDDB

Heifers News Barry Wood Tea, Tunes

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Gas mp Paperbad Rubber

(750-900) Good (550-900) Mediu m

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Orphan Annie

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Y. Bonds

BOND PRICE INDEXES 20 Rails 56.8

°0 Utils.

Boy 96.7

a BD

00 Oy <I 0 «1

INTEREST SEEN

u. S. Committed to Present

‘Easy-Money’ Policies, Survey Says.

P)—] com-

NEW YORK, Sept. 12 The Federal Government

(U.

' mitted to continuation of its pres-

| versity

ent policy of low rates for an indefinite period according to a released today by Dean John | T. Madden, Instit of International Finance director. The study released by the Insti- | ute conducted by New York Uniis the first of a contemplat-

interest

survey

ite

2.60 ed series of 10 surveys of domestic

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Chicago Stocks

Sow

Corry

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BUILDING . PERMITS DROP DURING WEEK

AT OY Cign

{

| June 30, 1933, and Dec.

financial situations. Previously the Insti matters. Continuance of the Governme ats | easyv-money program is assured be-! cause of the Administration’s desire to own financing on | avorable terms, to aid general busiand to maintain the bility of the nation’s fingncial] itutions, the study contended. | sald thatthe huge Federal] etary deficits thus far have not! npaired the credit of the Governnt and that the debt service had as yet become too burdensome en compared with dotal revenues. The survey warned, however, that some halt to expanding deficits must be made and that only a bal-| ed budget can eliminate the gers of inflation and aprehenns over further credit restricions. “It

‘t “th

facilitate its

ASS

recovery,

Qal

sio

is obvious,” the study said sooner or later a halt must] be called to the practice of continuance of large deficits. “The coexistence of large deficits and of excess reserve balances constitutes a real inflationary menace The adoption of a balanced budget would not only eliminate the dangers of eventual inflation, | but would also remove, at least in| part, the apprehensions that onw| exist that restrictive credit meas- | ures may have to be taken by the Reserve authorities.” | The Institute said that between 31. 1937. banks of the nation increased their S. Government holdings of direct | and fully guaranteed obligations by

1at

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* CONTINUED a

(law;

S Rub 1 pf.. Steel .....

Vanadium

Wa Idorf Sys

Vaukesha Vest Pac Vesting El Woolworth We

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Yellow

New Business Books Available at Library

The following new business books now are available at the business branch of the Indianapolis Public Library: STORAGE AND STABILITY: MODERN EVER NORMAL ARY, Benjamin Graham. if skilfully I solution of Pre oblem a tacks the u

A G RANI'he emDUE basic monetary fue a t

m ri RSONNEDL TIONS, by class consci paterna man h

y oe

AND 1 ABOR RFLADale Yoder. Growi Ing S reaction agains , Progl am

Ss to be regar as groups.” GOVERNMENT \ERSHIP AND OPERATION OF RAILWAYS FOR ‘HE UNITED STATES, bv C. Can private enterp: Ur 1 arr on Government ownership C OMMERCIAL FOR THE FREE 1 IST, by By 3.

OPPORTUNITI ANCE JOURNA a There

income in

E I S a vd business BUSINESS FACTS compiled bv Special Libraries Association. Indexed and descriptive list of the less known business reference sources

“ BANKERS TO ENROLL ©: FOR BUSINESS STUDY,

I. U. Staff to Instruct 200 Beginning in | October.

GUID Fo AND FIG RES,

More than 200 bank emloyees are

expected to enroll for courses

offered by the Indianapolis chapter |

of the American Institute of Banking in the 1938-39 term. Francis

Polen, chapter president, said today. |

Instruction under lecturers from the Indiana University School Business Administration begin early in October, Courses and operation; commercial negotiable instruments;

nomics; money and banking; counting; analyzing financial statements; vestments, and public speaking.

Output Drops

AUTOMOBILE PRODUCTION IN THE UNITED STATES (U.S. DEPT. OF COMMERCE) DOTTED LINE iS THE PAST

TEN YEARS AVERAGE OF THE SAME MONTHS

of staff will he said.

ton eco-

800

» o ied

include bank organiza-'!

ac- |!

corporation finance and in-|

114 per cent.

ve b=

Competition.

LONDON, Sept. 13 (U. P.).—The

, present serious position of the Brit-| |ish ship-building industry is reflect- |

‘ed in the fact that for the first time {in history its export trade for this| iy will show an adverse balance. | Subsidized foreign competition | thas affected Great Britain's position | as a builder of merchant shipping, and prominent members of the industry consider that unless the Governme is prepared to take effective action they cannot see how the industry will survive

nt nt

The latest shipbuilding returns by |

loyd's Register show a reduction of 162,000 tons in tonnage, compared with the figure for June, 1937. According to Hector®C. Bywater, {well-known shi pping correspondent of the Daily Telegraph and Morning Post, there is every reason to fear that this decrease will be progressive, and that the returns the last quarter of the year foreshadow a position not far moved from slump conditions. British shipowners, deterred from ordering nage at home, first by cost of new construction and sec‘ond by the depression of the freight markets. Consequently, while the fitting- : out basins are full of vessels being completed for sea, few new ships are on the stocks. Launchings are taking place double the rate that new "b coming in. During the quarter 50,000 tons were ordered, gainst 230,000 tons 12 | ea

new ton-

only as

months

Steel Drop Since 1929

In 1929 we were building L000, 000 worth of tonnage for eign customers. figure for 1938 is $17,500,000 | At the same time British owners {have placed with foreign yards,|e {mostly German and Danish, tracts for $25000,000 worth of new tonnage. This will result in an adverse balance of $7.500.000. Not reversed. It was the proud boast of Brith shipbuilders that they built ships for the world. On the continent. very different conditions prevail. German, Dutch. Danish and Italian yards are building almost to still booking large contracts.

CORN AND WHEAT REGION OFFICIAL WEATHER By U. —Sept. 13, 1938—

Precipi- State of | tation weather

S. Weather Bureau

High Bend ... svavsy 9D

| Low South Angola

mcennes . Paoli “aise Ft. Wayne Indianapolis Terre Haute . Evansville ...

‘DAILY PRICE INDEX|?

NEW YORK, Sept. 13 (U. P.).—

DOr por «Jd O=J

woomwnowemn iD:

for | will | re-| he said, are]

the high]

comparatively | st

at! sa’60; orders |:

just ended |

$100,- |: for-|s The corresponding | now. |

con- |

so long ago the position was |

capacity and.

Cows All Weights— Good Medium Common . Low cutter and cutter. Bulls Yearlings Excluded— (All weights) Good (beel).. | (All weights) Medium Cutter and common Vealers (All weights) CI oice (All weights) Good (All weights) Medium Cull and common

{ 7.2 67: 6.0:

00 only [email protected]

.00@ 9.00

—Receipts, 92¢—

(250-400) Choice Good

8.00@ 9 o 8.00 . 7.00 5.00@ 6.00

Catt

Medium Common Feeder and Stocker (550-750) Good and choice, (800-1050) Choice .. (500-800) Good (800-1050) Good (500-1050) Medium ‘ (550-750) Good and choice. . Common ..

> DIOS

J SV ESHESY =190-300 0 wo

Sons S93

Heifers— (350-750) Good and choice . Common, medium Sheep and Lambs —Receipts, 1998— Spring Lambs— Choice Good Medium Common Ewes—

2.00 1.75

FT. W AYNE, Sept. 13 (U, P.).—Hogs—| Man Ket, steady to 20 cents lower; 220-2 1 $9.05; 200-220 lbs. 3 Tigo 260 Ibs. $8.90; 5. $8.75: 28 0-300 Ibs. $8.60: 3: 325-350 ibs. : 50 lbs, $8: 120-140 $7.50. Roughs, $11, lambs, $8. 13 (U. P.).—Hogs— | 2 cents lower. 150-200 Ibs. 200-250 1bs., $8.90 9.10: 250- ' $8.60 8.80; pigs. $8.25 down: $7.50; calves, $10@ 10.50;

S. $5. 25: yy LAFAYETTE, Sept

Ibs., , hs. 7.50 8. CHICAGO. Sept. 13 ceipts. 17.000; directs. 4500: mostly 15@ [25¢ lower: top $9.25; bulk good and choi ce 160-190 ibs., $8 $393 95; 200-250 lbs.. $9@ [9.20; odd lots 270-310 Ibs $8.90@ 9.10; light packing SOWS, $7.75 8; most medium and heavy weights [email protected]. Cattie—Receipts, 10,000; calves, 15 longfed steers | and vearlings fully top, $13, some | held higher; finishea weighty Kinds scarce; all other grades slow, weak to 25¢ lower; very liberal Western grass run here, about | 0 head, mainly stockers and feeders; that trade steady to weak: fed neifers |steady; best $11; grass cows steady Joan; bulls fully steady: vealers 25¢ Righo up to $11.50@$11.75; weighty sausage bulls $6.85 down. Sheep- —Receipts, 10,000 | directs, 1500: late Monday spring oD; | | weak to 25¢ lower: top natives. | $8 8.25; bulk Westerns [email protected]; sheep | steady; today’s market on spring lambs i mostly steady: Westerns up , hatives to packers, $848.25: to small Killers $8.50 8.60" steady;\ native slaughter ewes, $3@3

LOCAL ISSUES

The followin sent actual bi indicate the

(U. P.).—Hogs—Re-

Soeep | .50,

quotations do s or offerings, approximate

but merely market level recent transactions Stocks Ask 52 20% | 54

{Belt RR & St Yde com ... | Belt RR & Stk Yds pfd ‘ {Cent Ind Power 7% pfd...... {Home T&T Ft Wavne 7% pfd. { Hook Drugs Ine com .. ‘ina { XInd & Mich Elec Lhe if xInd Gen Sye Co 6% 0 Ind Hydro- Electric foo ord’ | Indpls Gas Con Indpls P&L Co 6s . { Indpls P&L Co. 87 ed: Indpls P&L Co 62 fd’

Indpis Water Co 5% ‘ Nat Lite Py Co Ch

104 6215 |

99 84 981% 2 8 70 14

38! 362 1

Lincoin N Ind Pub Serv Co Bla {N Ind Pub Sve Co Ten {N Ind Pub Sve Co 6° pid. | xProgress Laur.ary Co com {Pub Sve Co. of Ind 7% ped. [Pub Sve Co of Ind 77 pid . [So Ind G&El Le% ‘ofa

Hm 1%

Bonds

Amer Loan 5s 48 izens Ino Hel 45s 61 fis TXT Rt W 5% 55 ..44..103

100 105 105 106

67% 43

}

$66,981,076, and plant, equipment at $71,716,194.

surplus amount to 93 per cent of the equipment, {national average was 95.20.

The company’s capitalization and |

value of plant, property and | _ the SEC reported. The)

Capital and surplus were listed at| property and | Total as-

sets were fixed at $84,139,439 and the| _

9.00210.501 671 customers in 65 communities, the : = said.

PROFIT- SHARING

» 30 Industrial Employees Lack

sharing plans in industry an incentive to manual and clerical | workers, Prof. C. Canby Balderston of the Wharton School of Commerce | and Finance of the University of | hs Pennsylvania declared today.

discussed at the tional Management Congress here,! beginning Sunday,

lambs, | made by a subcommittee of Senate Finance Committee on the value of profit-sharing plans.

few |

|accurately reflect the performance

depreciation

“shortcomings” plans. | termine the incentive value of such plans.

reserve at $12,012,972. Last year the company served 122

Po kh | pp —

| SETUPS DECRIED

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Christ. Science Bohemians NYA Program A. J. Ruland Theater - NEC Program News Grand Central

Goodman's or.

Easy Aces Vv jafidties

Easonolocy Johnny “

Martin's Or. Swing Strings

Vox, Pop, Fibber McGee

Concert Or. Pirro’s or Bob Elso Inside Sports

Gould’ s. Or. Green Hornet

Don Wis inslow Sport

Unamwsuced Johnny HH "

Locke's Or. James’ Or.

Vox Pop Fibber McGee

Don’t Believe It Ferneau's. Or. Heidelberg Or. - lomorrows -irih,

Lopez

~ Molina’s_or.

Kemp's Or. Park Concert

Sports Screenscoops Roller Derby ' Or.

News Basie’s Or. Casa Loma Or.

Own Musio

J. Fidler Jesse Crawford

Mysteries Heidelberg Or. Northerners

Mysteries Peter Grant

Fidler Yor t Believe It

Amos-Andy Baseball |

Weeks’ Or.

Right “Job Jurgen's Or. Cummins’ or,

Amos- Andy Varieties Salute

P. Sullivan Farber's Or, Moore's ,Or.

Olsen's Or.

Ayres’ Or, 4 H

Cabhot's Or.

Scores Dance Or. Haug’s Or.

Ball

Review Pearl's Or. Jesters or. , »

Joy)s Or, DePa ul’s Cr.

INDIANAPOLIS M 1200 (CBS Net

WEDNESDAY PROGRAMS

INDIANAPOLIS WIRE 1400

(NBC-MBS)

CHICAGO WGN 720 (MBS Net. )

CINCINNATI WLW 700 (NBC-MBS)

Incentive Under Plans, Expert Declares.

WASHINGTON, Sept. 13.—Profitare not

| | woe ! WRXX sdeaialer | an

Prof. Balderston’s views are to be seventh Interna- |

A governmental study is

Cites Three Shortcomings

Prof. Balderston outlined three in profit-sharing

He applied three tests to de-

They are: 1. Does the basis of compensation

Seis ———— STD

It a ok et

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Early | Birds

Devotlons Musical Clock

Organ Musio Box Revelers » id

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GTS Sw

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DD - VDNT NIDUNS

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; Markets

”» ”» ”»

News

Merrvmakers Peter Grant Gospel Sinzer Hollywood News

Good Morning ”» ”»

Kitty Kelly Mvyrt-Marge Serenade ___Stepmother

Mrs. Wigg Other Wife Plain Bill Women

in White

Hy Crane-Jovce Mor Maire ig » Hillton House Amanda Snow

Serenade Earl Lawrence

"RIL Billies Apron Strings Big Sister __ Real Life

Mary McBride Irene Beasley Mrs, Farrell

Farm Circle Blue Ribbon News

Serenade,

David Harum Lorenzo Jones Dessa Byrd Linda’ s Love

Goldberzs Vic-Sade Short Story Road of Life

Get Thin Children Don Pedro Painted reams”

Paula Durand Kidoodlers Footnotes Grier’ s Or.

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River Bovs __Leon Goldman

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Who S Sane Rainbow Trio Rak kov’s Or. Haves’ or. Plavboys Golf Summary

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Mary Marlin Ma Perkins Pepver Young Guiding Light

Harding’ s Wife Midstream Julia Blake Hatterfields Houseboat Singing School Gloom Chasers Man of Mars

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Paul Douglas Low ell Thomas

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$8.50: bulk, |

ol sorted

not repre- |

based on buvine and selling inquiries of!

of each worker? | 2. Is the scheme sufficiently simple -to be understood? 3. Are the bonuses paid quickly | (after they are earned?

KEY NETWORK STATIONS (Subject to change):

NBC-BLUE—WIJZ, 760; WOWO, 1160; WENR-WLS, 870; KWK, 1350. NBC-RED—WEAF, 660; WTAM, 1070; WWJ, 920; WMAQ, 670. CBS—WABC,

860; WIR, 750; WHAS, 820; KMOX, 1050; WBBM, 776,

Pointing ouv that profits are af- MUTUAL—WOR, 710; WHK, 1390; WHKC, 640; CKLW, 1030; WSM, 558,

fected by variations in both income | and expenses, and by influences not only within but outside the enterprise, Prof. Balderston said: “A worker who is not in the management group cannot influence | profits appreciably. Therefore, profit-sharing fails to stimulate a (rank-and-file employee to greater (effort because the basis on which his bonus is figured is too far re{moved from the dailv work and { performance of the participants.”

Too Much Delay

Of the third test, the lapse of time between the earning of the bonus and its payment, he declared [that “In most profit-sharing plans, {the bonuses are paid annually. But i comparison with piecework, profit-sharing bonuses, even if they met the other tests of an incentive, would be deficient in that there is so much delay before good work is | rewarded.

THE TIME 19 BUILp |,

1937

S UILOING dol

While Building costs are the lowest in years—When competent advice and counsel on home building may be obtained FREE in our HOME Building Service Dept.

ATR NE I RTL I TY

raj GT Yeo vemwe INDIANAPOLIS, INDIANA

“Ror these reasons it would seem

FOREIGN EXCHANGE

Ww yore: Sept. 13 (U. -Foreign g Folow ing TN opening major currencies:

| pope T&T Ft W ) xd Assoc Tel Co 40, 65 ..... Inter Tel & Tei 512% 53 hen Ry Inc 5% 67 Ingen Wat Co 3122, r Tel & Tel 512% 5 “lime 7. Water Wks 57% 104.61 | Kuhner Packing Co 429; 50 | Morris 5 & 10 Strs 5% 30 vis 103. 73] Muncie Water Wks dg 65 .... 102.99 | Noblesv Ht L&P 61% Ohio Tel Sys 6% ae 138.08 | Public Tel Co 4%2, 55 . | Richmond Wat Wie 8% 57 ... 117.06 | Seymour Water Wks 57% 49 ..100 102.43 | T Haute Water Wks 5% 49 T Haute Water Wks 67% 49 Trac Term Corp 5% 57

(Bv M. P @rist & Co.) Market St. Investment Corp....2412 2502

ESTIMATES SHOE OUTPUT NEW YORK, Sept. 13 (U. P.).— {2 Total production of shoes in the last six months of this year should approximate 197 million pairs, com pared with 178 million in the corresponding period last year, the Tanners Council of America predicted today. Based on that figure production for all of 1938 would be 380 million pairs, compared with 121412 million in 1937 and 361 mil4 lion in 1929,

{that the sharing of profits with | 93 |workers below management rank, 1081, | does not offer a sufficiently strong! 38 |inducement to be classed as a finan-' cial incentive if the latter be de-| fined strictly.” Of greater significance than | profit-sharing, Prof. Balderston said, is the question of employee reserves coupled with a profit-sharing formula. Such reserves, he said, permit a company that makes substantial profits, even occasionally, to] pursue flexibility for itself and stable earnings for its workers.

. \

NOTICE CF REDEMPTION The Indianapolis Joint Stock Land Bank of Indpls., Ind.

3 S

THOUSAND CARS

41/ per cent Bonds

AZ J ASO 1937 1938 THE PARKER CORR GENERAL DISTRIBUTORS INCORPORATED INVESTORS

3 am

49 0

» period

(Coupon and Registered) Dated . October I, 1928 Callable October 1, 1938 Due . . October I, 1958

Notice is herebv given, as prov ided bv rules and regulations oesiribed bv the Farm Credit Administration. that the undersigned The Indianapolis Joint Stock Land Bank of Indianapolis. Indiana. has called for redemption on October 1, 1938, all of its outstanding bonds above described. . Said bonds are pavable at par upon presentation at American National Bank at Indianapolis, Indiana, on and after October 1, 1938, on which date interest thereon will cease.

Dated August 22, 1938

0000" a -+-.0000's

BANK STOCKS

Bid.

Times Sperial BOSTON, Sept. 13.—The most encouraging development in the automobile industry during the past two months has been the decrease in the number of cars in dealers’ hands. Stocks are now estimated to be at the lowest tevel since December, 1934. The drop in production has helped to decrease stocks. The number of cars and trucks produced in July dropped seasonally from June and was about ane-third the production in July a year ago.

v compared ~{ 3G > yu $6.895.429 for Asked. Bank of America Bank of Manhattan Bankers Trust “ Bank of New York .. Brooklyn Trust Central Hanover Chase Chemical Commercial Continenta Corn (Exchange Emp . Fir ot Nationa Guaranty . x Irving Manufacturers National City .,. Nes ork THUS,

mn AL A _ A SAFE DEPOSIT |

BOX IS LOW COST INSURANCE 9 Different Sizes

$3 TO $100 A YEAR Security Trust Co,

130 E. WASHINGTON

LOCAL PRODUCE

{ Heavy breed hens. 14c; Leghorn hens, 12¢; heavy breed broilers, 2 Ibs. and over, . Barred and White Rock springers, Ibs. and over, 13¢: colored springers, i i up. lic: Leghorn broilers, 1!: n . 10c* bareback broilers, 9c: roosters. Sec. { No. 1 strictly fresh country run eggs, 20¢; cach full case must weigh 55 1bs. 18.53 gross; a et deduction of 15¢ for each 158. 0! fan case under 55 Ibs. will be made. Pullet Be

091 770.729.32 eggs, 0. 1. 28@281%¢: No. 2. 25@26c;

1.091, JRnas > fat, No. 1, 2le; No. 2. 19c a 3 Ey hy (Prices quoted by Wadley Co.

12,623.761,234 48 | butt): $0,961,311.18

The Indianapolis Joint Stock Land Bank of Indianapolis By Frank C. Bopp, President. (Corporate Seal) Attest: William N. Fleming Jr., Secretary.