Indianapolis Times, Indianapolis, Marion County, 16 November 1938 — Page 21

7:30—Tommy Dorsey, WIRE. his cheeriest greetings 31 times, th: 7:30—Paul Whiteman, WFBM. [the charges had been reversed. 8:00—Fred Alen, WIRE. 2 2.»

8:00—CBS Symphony, WFBM. : 8:30—Star Theater, WFBM. How to win consistently at card and how to avoid being heal

re will be discussed by Michael } Al Smith will head a group of Dougall on Fred Allen's prog

Catholic leaders protesting Hitler's Jewish and Catholic persecution on Somigh, Me. MacDougall = a half-hour program at 8 p. m. to-|Ployed extensively by trans-Atlantic day on CBS-WFBM. steamship companies and note This is the first program of for- clubs to check up on | Suspected oa mal protest to be announced ahead Sharks. of time, although Miss Dorothy Thompson voiced her opinions rather

State Coal Production

1923-1936 =0

RAIL SPENDING | PLAN. HINDERED. SAYS COL. AYRES

Without Wage Cut Investors Are Wary, Claims Noted Statistician.

Hog Prices Gain15 Cents; Lambs Firm

The general 15-cent advance today in hog prices regained yesterday's losses, according to the Bureau of Agricultural Economics.

Top for 160-170 pounders rose to $8. Packing sows shared the upturn with good grade from $7.25 to $7.65.

WHEAT PRICES STEADY AFTER OPENING DROP

,| Action Quiet While Traders Await U. S.-British Trade Treaty.

STOCKS FORCED OFF FRACTIONS: TRADE QUIETS

Aviations Lose Early: High Gains; Bonds Show

Ell =

1933 1934 _ 1935 1936 1937 1938

Indiana University, Bureau of Business Research.

1930 1931 1932

” ” 2 y Fay Bainter, who may be seen at

| Unevenness.

NEW YORK, Nov. 16 (U. F).— Profit-taking forced stocks down fractions [to more than a point today after an irregularly higher movement had disclosed lack of fol-low-through demand. Trading quieted on the reaction. Aircrafts, which. moved up fractions ‘to 2 points in heavy turnover early, lost most of the gains. Douglas sold at 673, up %. in midsession

‘after reaching 69% in the first a

hour.

off to losses of 3 point each after early gains of about a similar amount. Motor leaders had losses ranging to a point in Chrysler. Utilities, oils, merchandising shares and rubbers had losses ranging to more than a point after forenoon irregularity.

A Bethlehem and. 1.8. Steel sold | 4

“MN. Y. STOCKS

By United Press

dams Exp .

of ae Net Hien Low Last Change

aska Jun .

Am Am Am Am

Am Am T Am Am Am

A brisk advance to new 1938 peaks|Am

in local tractions featured an other-

market.

Gains in the local traction group | “Nich A. Aviation Cord .

ranged to more than a point. Other utilities and industrials held narrowly around previous closing levels. A slightly better trend was noted for most steam carrier bonds. Foreign ‘funds turned irregular after a firm start. ment issues were reactionary in a light trade, losses ranging to as much as 11-32 point. "Curb stocks maintained opening gains of fractions to more than a point in forenoon dealings. Trading was moderately active. Industrials were steady on the early advance. Gains ranged to a point in Aluminum Co. at 123 wis» most advances restricted to fractions. Lockheed and Bell Air made new highs on gains of mors than a point in early dealings and maintained most of the gains despite profit taking. Utilities generally were steady,

.United Gas and United Light Power preferred up fractionally. Mining shares were irregularly higher and oils idle. “ ”

Today's Business At a Glance

GENERAL BUSINESS

American Petroleum Institute reports week ended Nov. 12 crude oil

C output averaged 3,243,250 barrels 1 Cream Wht .... 29 Crown Cork .. Crown Zeller pf 0215 Crucible St t Curtiss Curtiss Wr A..

daily, off 385,300 from previous week: gasoline stocks 67,551,000 barrels, off 685.000. Edison ‘Electric Institute reports week ended Nov. 12 electric output 2.209,324,000 kwh. vs. :2,207,444,000 previous week and 2,176,557,000 year b ago. The Iron “Ake reports steel aDetel. ations this week up to highest level since October, 1937, at 6215 per cent.

CORPORATION NEWS

Davega Stores Corp. and wholly owned subsidiaries 6 months ended

Sept. 24 net loss $49,007 vs. net|g

profit $141,954 year ago. National Tea Co. four weeks crids ed Nov. 5 sales $4,166,099 vs. $4,632,-

349 year ago, off 10 per cent; 44 Se

weeks sales $46,457,199 vs. $52,891,580 year ago, off 12.1 per cent.

Public Service Cerp. of New Jer- gid e

sey and subsidiaries 12 months ended Oct. 31 net income $22,335,103 vs. $24 555.153 year ago; October net income $3$2,160,350 vs. $2,105,650 year ago. Weston Electric ‘Instrument Corp. and subsidiary nine months ended Sept. 30 net profit $97,704 vs. 71, - 720 year ago. DIVIDENDS

American Investment Co. of Illinois 50 cents on common payable Dec. 1 record Nov. 21 vs. 40 cents revious quarter. American Surety Co. semiannual $1.25 payable Jan, record Dec. 10. Calumet & Hecla Consolidated Copper Co. 25 cents cn common payable Dec. 16 record Dec. 2 vs. 35 cents Sept. 16, 1937. General Cigar Co. 50 cents on common payable Dec. 15 record Nov. 29 vs. like payment Sept. 15. B. F. Goodrich Co. $1.25 ol arrears and regular quarterly $1.25 on $5 preferred, -payable Dec. 31 record

regular 3

31. Libby-Owens-Ford Glass Co. 1928 final 50. cents on common payable Dec. 15, record Nov. 29. Mock, Judson, Voehringer Co. 25 cents on common payable Dec. 20, record Dec. 1 vs. 15 cents in three previous quarters.

Public Service Corp. of New Jer- N

sey 55 cents on common payable Dec. 20, record Dec. 1, vs. 50 cents each Sept. 30 and June 30 and 65 cents March 31. Ruberoid Cv. year-end 60 cents on common payable Dec. 20, record Dec. 5, vs. 15 cents cash and yearend $1.40 payable in promissory notes on Dec. 20, 1937.

Curb Stocks

. Net High Low Last Change

Alum Co Am ..123 123 123 + 1 Cc 291 29.» 29

—-

See rE ee ¥

B vf .. Carrier Corp .. Cities Serv .... Col O & G

PE): Lith

U. S. Govern- |B

Dec. 3 vs. payment of $1.25 March M

Bald

Ben Beth

Borg Bklyn

Burrou

Ches &

Cleve

Com

Cons Cont

Cont Cont Cont

Deere

El Pe E

Food

Good Good

Gre

Hall

Hupp

Inter

Kenn

Lone

Mack Macy Man M

Murr

Nash-

Proc

ure durit

legh on 1 Cp 1 Lu Ba Pe lied Stores ... d re 8

Bosch Corp Crys ¥ Pw | va

co Am Rad & Am Smelt

A Armour III .... Ck

wise dull and irregular listed. bond Arm

Barber Asph .. Beatrice Cr... Bendix Avn

Bklyn & Q nf.. Bucyrus Erie .. Budd Mf

ghs Byion ut EE

Callahan Zinc . Calumet Campbell wy. Case J I vee Caterpillar T Caterpillar T pi102% Ceiane Celotex new ... Celotex pf ...: 69 Cerro de Pasco. 3% Crortain-td 6 pf 4 Champ Paper..

Chi E . Chi Mail Order 133s St P&

with American Gas & Electric, g

Climax Moly Co 57% Colum Gas .... 7

Com Solvents Comwlth Faison 2%

Comwlth Comwlth&So pf. . 82

Cons Oil Container

& Doehier D

Elec Auto-L _... Elec Pwr. so Nat Gas 29 ng Pub. 8 92

Flintkote

Gt North pf. : Greyhound Cp..

Im Central eves RT

Interlake Ir ... Int 1g ve

Int 943 of . Int T&T

Laclede G Leh V goal ian L-O-F Glas

Mac&An F “PL. 120% Tr 31

Mengel Fa [Mident Pet .... Mont Ward .

S Pen Newport 1 a Newport Ind . N Y Central ... Y C Omn ..

Press Stl Car .. Procter 57}

Pullman ..

1 1 NB ..v. «1 + % 7 — " % + % —_ VY 4+ Yi +1 -— Vy

a + + 1%

vs " 30 w 2

DARI hs oo 0a

~~ pened BoNUiwa oamne wm

[oS

Raia. Ul CO OOD COIN et 60 > 03 CIT DNS +4 BD

Loco ct.. 1

Ind Loan. 1 Steel ....

DHE HEE

o. os

Warner MT A T ‘pf .

& XH.

ese 4%,

DlLHHH +

3 Ya

& Ohio .. 355 Ill

Graph Br 30

78 ny Tr... 61 + 10

Fl: +++: |

& So . V8

Edison ... Did Foi.

Mot ...... Oil Del .. Shee!

Yeti P A EEE

40,

co. 42% 17

+++]

a cee 2315 Cast 22% ve BE 87s 149 149 —E 330 12%

9 149

333% 12% 2

0 . 92

333% 12Ya

& Li... 29 9%2

—f— 28% 27% | 28% M cu cv pf 108 109 109 was Robt .... 4Y4 3% Ba king .e Electric .. Mills pf... Motors... Refract .. ce 98

3 RE»

. nN . . Ne deg e 8

rich pf .. 65 vear

RARE

DEERE v

Print ....

SRER

FS +411

Motor .

CHEER

Jones & L 7 pf.

ecott -

Kroger G&B ...

557

Star Cem. 281% 58%

R 4 = mod ‘gtd

i Cro +H:

Kev ceepe

H+: i ; »

ol wu

18% 10 287s 157 2 87 19%

113 173, 20% 3675 16%, 12%

+++ aaa

fou, 147% 1315

~19Y5 1415

. 147 13%2

. 18%

Fas

Fhe

29, 42%, 5Ys 112 11% 41% 13%a 80

+ i

it a

DEERE ERE »

- a0

& G & Gof:

Oil

; . 10% y Bak .... 147%

>| Year Ago

si Yesterday

2 | United Cp pf..

‘1; | vanadium al Va 2 sting z Weiaht Aero

*| yellow Tr ...

4 Yesterday

? (Month Ago ....

211936

1German Ts 49

| Bastian Bless .......

2 | Butler Bros

DOW-JONES STOCK AVERAGES 30 INDUSTRIALS Yesterday 154.66 Week ARO ....ccocavvsceess. 158.08 Month ARO .c.cccoccenccness 150.02 Year Ago ....... evades 127.54 High, 1938, 158.08; low, 98.95. . High, 193%, 194.50: low, 113.64. 20 RAILROADS x 31.93 33.18 30.71 32.73 High, 1938, 33.18; low, 19.00. High, 1937, 64.46; low, 28.91. 15 UTILITIES.

-—0.95 +3.117 —2.08 -~0.44

Yesterday Week Ago ...... Month ARO .......:.o Cee

23.87 24.97

esessesssssses

Week Ago Month Ago 23.45 Year Ago 22.61 High, 1938, 25.19; low, 15.14. High, 1937, 37.54; low, 19.65.

“esscssggoesncenne

ses00ssssrscccces

High Low 87s 87s 2% 13% 10% 11% 27%

Net Last Change Tex Pac L. T .. Y ’

Trans West Air. 10Va “y

Trans & Wms.. 11% 20th Cent Fox.. 27% ils 69 89% 3's

Und Ell Fish... Union Carb ... Un Aircraft Cp. Un Air Ines... 1 Un Biscuit United Corp

United Fruit ...

Liber EL +

oe °

IC&CK «....

Walker (H)

Ya 122% 121; an 1 Wi 20

3% 55%

20% Young _Sheet .. 55%

N. Y. Bonds

BOND PRICE INDEXES 20 20 20 Inds. Rails Utils. 87.0 61.2 99.3 86.9 62.0 99.4 86.8 59.7 98.9 Year Ago ... 83.5 3.0 95.5 Two Years Ago 94.5 99.2 . 106.1 1938 High .... 87.3 70.0 99.4 1938 Low 4.9 47.9 87.3 1937 High .... 101.2 106.0 1937 Low 69.3 92.3 High .. 100.4 106.2 100.2 1936 Low 84.7 103.5 93.3 (Copyright, 1938, Standard Statistics Co.)

60 Bonds 82.8 82.7 81.8 84.0 100.0 83.0 90.7 100.7 81.1

Week Ago ..

U. S. GOVERNMENT BONDS Treasury Bonds Low

4.2 102.11 Home Owners Loan Bonds 1944-42 104.1 104.

DOMESTIC BONDS

High Low

NYCent 4153 NYCent 33s Otis - Steel. ites = tries Penn RR 3%s a Warner Bro 6s %

FOREIGN BONDS High Argent Au. Tice. 90% Australia 5s 55 Berlin El R §%as 38. Canada 5s 52 : Cuba 52s 45 Cuba 415s 77 . : Denmark 4's 62 . French 7'%2s 41 .

German 5's 65 ... Italy : Japans 62s Poland 8s 50

Tokyo 5s 52

83% 43 50%

‘Last 73

£3,

Low 3% 5%, 13%

Bendix Aviat ....... Berghoff Brew Borg Warner ... Brown F&W ..

Cent Ill Sec . Cent a See cv pt. €heo © seerne Chgo Plex Shaft ...... 7 Chgo Yel Cab 1 Comwlth Fdison

Dexter Co ...... Elec Househd .

Gt Lakes Dredge 2 Hubbell H

Le Roi Co . Lincoln Print . Loudon Pack . Lynch Corp . Marshall Field .. kel Food

Schwitzer Cu . Swiny > Lo ris

Ste Stand O Utah Radio od Viking Pump Woodall Ind

CHICAGO PRODUCE

Butter—Market, steady; receionts, 577,039 gross Ibs.; extra firsts (90-9112 score), 25%c; extras (92 score). 25%;@26c; firsts, 24',@25c; seconds, 23'%c; specials score, - 261, @26%c: standards. 25Va@25%c: centralized (88 score), 24%c; centralized (89 score), 25c. : Eggs—Market, firm; receints, 3477 cases; fresh graded firsts, cars, 27%c; less than cars, 27'%c; extras, firsts, cars, 3lc; less than cars, 30%c; checks, fresh, 21c; storage, 20c: current receipts, 268c; dirties, fresh, 1c; storage, 20c: refrigerated extras, 23% refrigerated standards, 23%c; bi Td firsts, 22%ec. Poultry—Market, steady; receipts, : san, 39 trucks: ducks. 14@1%c; geese, l4c; h

a 5%

4 tered selling at the opening. Specu5|lative interest was small

?| wheat. Buying on resting orders and|gon

’ at 181 cars.

.|the second vice president—who au-

New York City, whose address con-

merchants and cottonseed crushers

{freely in the ring that 4,000,000 bales

i7% | loan.

93|C

CHICAGO, Nov. 16 (U. P.).— Wheat prices steadied after an opening decline on the Chicago Board of Trade today, but the market undertone remained bearish in sympathy with outside markets. At the end of the first hour Whe was off 3% to 14 cent, corn up i to off % cent, and oats unchanged to off % cent. Trading quieted down after scat-

traders were inclined to await announcement of terms of the AngloAmerican trade treaty to be signed Thursday afternoon. Liverpool wheat opened firm on reports of further crop deterioration on the Australian state of Victoria, but selling increased due to slow millers’ demand and renewed pressure of cheap wheat. Closing prices were 3% cent to 1% cents lower. Winnipeg wheat eased 5% cent in

1, | the first hour. Export sales of 500,- | Good—

000 bushels of Manitobas to the United Kingdom were reported. India bought 7500 tons of Australian

commission house demand steadied corn prices after an easy opening. Local corn receipts were estimated

LIVERPOOL WHEAT (U.

Prev. close a 3,

64%

Hi aa%h ‘833 64%

WAGON SLain ok elevators are paying for No. 6c: other grades on their merits. corn, new No, 2 yellow, 40c. Oats,

Dec. +sse March .. May «ooo

Low $.62 62

So3%% : .62% +63

.63 a

WHEAT

City 1 red, in 2

BANKERS NAME NEW OFFICERS

Association to Formulate Policies on Results of Election.

HOUSTON, Tex., Nov. 16 (U. P.). —The American Bankers Association was choosing new officers today before mapping its policy upon results of the general election. Nominations were prepared for

tomatically becomes president two years hence—and treasurer. Speakers meanwhile for the morning session were Dr. Adam S. Bennion, Salt Lake Qity utilities executive, and J. Reuben Clark Jr. of

cerned “Constitutions! Liberties.” Branch or chain fbanking, condemned by conventign speakers including retiring President Orval W. Adams of Salt Lake: City, was the issue in the contest for second vice & president.

Houston of Nashville, Tenn. and W. Laird Dean of Topeka, Kas. Frank P. Powers of Mora, Minn., had an unknown following. Mr. Houston was the favorite of the faction favoring branch banking. .|Marvin E. Holderness of St. Louis was a candidate for. treasurer in 1940. Philip A. Benson of - ‘Brooklyn, N Y., first vice president, will succeed

«|Mr. Adams at conclusion of the | 120-140 1b5..

convention Thursday. Robert M. Hanes of Winston-Selm, N. C., will be advanced to first vice presidency.

COTTON COUNCIL MEETS

NEW YORK, Nov. 16 (U. Py—| Representatives. of the American cotton industry will meet Nov. 21 in Memphis, Tenn., to organize a national cotton council to promote increased world consumption. Producers, ginners, - warehousemen,

will attend. With more than 2,000,000 bales already pledged under the 1938 cotton loan, it has been predicted

will be put up for the Government

LOCAL PRODUCE

Heavy breed Joilets. 42 lbs. and over, l4c; hens undér 4'2 lbs, 12¢c; Leghorn hens, 9c; heavy breed hens, l4c; Barred and White Rock Springers, 1'2 lbs, and over, 13c; colored springers, 1'2 lbs. and up, 12c¢; Leghorn broilers. 1% lbs. and over, 11c; spring chickens, 2 ibs. and over, 13c: old roosters, 9c. White ducks, 5 lbs. and over, 12c; white ducks, under 5 'bs., 10c: colored ducks, 5 lbs. and over, llc; colored ducks, under 5 Ibs., 9c; geese, 9-12 Ibs.. 10c; young tom turkeys, 14 lbs. and over, 18c; voung hen turkeys, 9 lbs. and over. 19c; crooked breast turkeys, 13c; old tom turkeys, 13c; No. 2 turkeys, 12c No 1 strictly frosh country-run eggs, 27c; each full case must weight 54 Tbs. and over; a net deduction of 15¢c for each full case under 54 (bs. wili be made; pullet

Es are. N 1, : @ r—No. 1. 28%@29¢; No. 3. 26 20 Satna. he c! No. 2, 19c.

Prices quoted by Wadley co.) erode — wre te atHta———

U. S. STATEMENT

WASHINGTON, Nov. 18 (U. P.).—~Government expenses and receipts for the current fiscal vear through Nov. 14, compared with a vear 380:

This ast Y . 83. 322. 1719 238. nn $2, gat "337, a1 39 2.089.760.408.68 2,154.342.7

12,788.985.48.24

Res. 14.118,529.972.39 : 166,405,270.44

Customs 123,410,153.87 INDIANAPOLIS CLEARING HOUSE

Clearings ./........ Serene Wn ciry $ 3.927.000 Debits 110,737,000

FOREIGN EXCHANGE

NEW YORK Nov 16 (U. P.).—Follow-

Many | 11

Good and

1100

1300-1500. M

Ci 8. equivalents based on sterling at $4.69)

and cutter 3.15- 5:00]

Cut., Shojce Good

Good and choice

market, gents hi her;

$7.80; §! oa 7.80; 140-180 1bs., packing sows, $7.3

: opening very slow, early bids full with Tuesday's uneven trade on all slaughter classes; $9.25; o lambs ony: .60.

eral market

good, most, strength on shipper account; longfe

better very scarce; and light Sleeps of value to sell at

steers;

3 sents higher;

Market. steady on good choice 78-1b. - Er common an slaughter- ewes. $3

FT. WAY Market, 15 cepts JHEher

M 1bs., $7. 400 ibs.

Vealer prices held steady in the

face of increased competition from poultry. Top remained at $11. Demand for heifers and steers was strong. Strictly choice mixed steer and heifer yearlings reached $11.30. Stocker sales were light.

Lambs sold strong to 25 cents

higher. Best natives brought a top of $9.

Top Recpts. Rov. 0s 3 3.3 4213 conn

50 gms 1d 3

397 7.90 6307/16’ “ose

ois

Nov, 8 9 10

Top Recpts. 8.00 2500 v5 8.0 12,000 11,000 3 % 6701

Barrows and Its ; Packing Sows

10H 300 $ 7.50- 7.65 425 k .40- 7.60 - 8.00 $e: 550 15- 7.45 CO| Medium — : .00- 1. 50

7.45- 7.60|Medium .. 6.50- 7.25 CATTLE (Receipts, 1072) hoide Steers } Vealers 750- 790 $10.00-11.25(All Weights— 900-1100 %10.50-12:00( Choice .$10.5 1300. 10.75-12. ool Good ... 9.50-10.0 1350-1500. 11.00-13. 50) Medium 720:19.30 a 8.50- a 3 common 6.00- 7.00

Calves : Hecsiptn

250-7 400 $ 8.00- 9.00 Good 7.00-

8.00 o' Medium iE 8.00 7.0 Common. . 5.00- 6.00 Feeder and Stosker Cattle 9.50-10.25! Good apd Choice— 7.25- 8. 50) Chioioe 5 8.54 9,00 - oice— 00-1050 . 8.25 9.00

7.25 8.25 7.25 8.25

500-1050 . 6.75+ 7.50 |Common.. 6.00+ 7.00 Heifers

- Good and Choice— 7.00] 530 750.8 6.754 7.15 7.00| Common an com, 4.75- 5.50 medium 2.00- 3.00

SHEEP AND LAMBS (Receipts, 1287) Lambs

3 8.75- 9.00|Medium ..$ 7.00- 8.50 8.50- 8.75(Common.. 8.50+ 7.00

..$ 3.00- 4.00 2.00- 3.00

0-11.00

750- 900. 900-1100. 1100-1300. 403)

23. 8.151 5- 7.50

Good— 150- 900 § 8.25-10.25 550-2750.

5.00- 550

Common and medium. .

CHICAGO {IVESTOCK|

Hogs — Receipts, 24,000; directs, 9000; moderately active, steady fo 1 mostly 5 to 10 cents up; ood and choice, 190-300 1bs., iberal proportion. [email protected]; $7. tay go 350-500-1b. x 5@1. 35; ew lightweights up_to Sheep — Receipts, 10,000; directs, 2000;

eep jae Tuesday fat lambs, steady to 10 cents

bulk tiade

ower; top, $0.15; others, [email protected]; sready

it sheep, steady; today’s

holding best offerings above d lots fat Deen, steady; feedin 74-78-1b. Westerns, $8.45

Cattle_Receints, goo: salves, 1200; gena little. more active; steers Je me strong; strictly

and yearlings. and prime kinds showin

choice,

weighty steers grading strictly good and run mostly yearlings top. $13.15 paid for medium weight aie strictly prime here in weighty steers; stockers and feeders steady with calves active at [email protected]; yearlings

and Weighty feeders slow, steady and classes, cents higher, with weighty sausage offerings up to $6.65: vealers. 25 cents or more lower a $9@10 50; head at $11.

.50 respectively: ar xillin

50@8 bulls strong to 1

$7. fully steady:

mostly $10 down; few No criterion Vf general {rade.

‘OTHER LIVESTOCK

CINCINNATI. Nov. 16 (U. P.)

Receipts, 2300. including 320 arr hold-

over, 80. Market, active, generally 15 to top, 2 100-140 0) [email protected]; most good ae sows, $6.25

@ atile—Receipts, 400; calves, 250, Mar-

fae action fair, generally about Shean Leading candidates were P. D. smalllots good mixed light yearlings, $ 8.50

@8.85; scattering steers.

load 700-1b. heifers. $9.25:

cows, [email protected]; low cutters weak. few shelly

kinds around $3; top bulls, $6.50; vealers, steady; 11.

ton, Sheep—Receipts, 575. including 70 direct. light supply; few lots trucked-in lambs, $8.50@9; Some ain Sols late Tuesday, $9. 25; med Hm $6@8; odd head down

16 - 5: 200-320 1 1bs.

NE. Nov. P.) ~~

ik s., $7.25. Roughs. os. 75; stags, $5.50; caives, $11.50;

lambs, $8.

- LAFAYETTE. Nov. P).--

pigs. $7.75 down: ie ,. down: calves, [email protected];

8, '[email protected]

STEELMAKING RATE

ADVANCES SHARPLY :

Rise in Orders Reflects Elec- |N tion Sentiment.

CLEVELAND, Nov. 16 (U. P.).— The nation’s steelmaking. rate has made another sharp advance, reflecting “a further rise in orders and definite improvement in business. sentiment,” according to the magazine Steel. ; “Tangible evidence in steel markets of the reaction to election results is difficult to discern as yet, but general improvement in sentiment as a consequence thereof is a constructive factor,” the magazine stated. The latest gain in operations to 61.5 per cent, a new peak for the year ana an advance of 4 points over the previous week, largely reflects expanding automotive needs and efforts of flat-rolled steel producers to work off heavy backlogs, the periodical stated. “Nevertheless, some leveling off in steel making is believed due, following the 10-point spurt of the last three weeks,” Steel pointed out. Sheet and strip mills are in a good position to maintain active

a operations the remainder of the

year. With deliveries lengthening, buyers who failed to anticipate their requirements during the recent period of price weakness have entered the market with a surprisingly large amount of new business. Scrap prices continue strong in most districts, with the result that the steelworks composite held at

«| tional ; | undertaken.

CLEVELAND, Nov. 16 (U. P.).— The ruling of President Roosevelt's railroad - fact-finding board may hault the nation’s business recovery, according to Col. Leonard P. Ayres, vice president and statistician of the Cleveland Trust Co. The board’s decision against the carriers’ demand for a 15 per cent wage cut might obstruct capital spending by railroads and public utilities and discourage investors, he said. Utilities, he said, “must realize that the newly-formulated doctrines also apply to them,” and they will be compelled to adopt the railroads’ “safe policies.” They cannot contribute much to recovery because risky policies of expansion will be too dangerous, he observed. Col. Ayres, who last month urged granting of the railroads’ wage reduction demand, said: “The fact-finding board decided 0|that employes in a Federally-regu-lated industry have vested rights in their pay which are independent of the ability of their employers to earn enough pay prosperity wages and still remain solvent.” The board decided, Col. Ayres said, that one of the chief faults in any wage reduction “was that such a reduction would benefit several still prosperous roads that do not need help. “They decided that more railroad receiverships might be desirable.” He blamed these “circumstances” for compelling the railroads and utilities to “restrict to barest essentials their expenditures for replacements and improvements,” and concluded that “they cannot contribute much to recovery.”

INCREASE FORECAST FOR 1333 BUILDING

Contractors’ Director Cites U. S. Defense Program.

EXCELSIOR SPRINGS, Mo., Nov. 16 (U. P.).—Private industry will do 50 per cent more building in 1939 than it has done in 1938, according to predictions by Edward J. Harding, managing director of Associated General Contractors of America. Mr. Harding said that the public works building program by the Government probably would be the most extensive next year of any year since the Public Works Administration was organized. More than 150 general contractors of the Middle West and of the governing board of the association attended the annual business conference here. “Several recent manifestos issued by the War Department have stressed the fact that electrical power facilities are not sufficient for proper co-ordination under emergency conditions,” Mr. Harding added. “If the proposed National Defense Program is carried tout there will be a heavy expansion of facilities in several branches of industry and particularly in public utilities. “However, a substantial increase of industrial building is expected during 1939 even though the NaDefense Program is not

JooaL ISSUES

based on buying and mate quotations of

Soo | recent transactions.

Stocks

Bid Ask

54 ‘291% 54 13

Belt RR & Stock Yds com. Belt RR & Stk Yds pf Cent Ind Power 7%

67% pfd 1 Ind Hydro. Electric 7% pid .. Indpls Gas Corp Indpls P&L 8. Indpls P&L 62

ony z 534% "btd n ub Serv 2 N-Ind Pub Serv 6 >

Van Camp Milk Co com .

Amer Loan 5s 46 reese 95 Citizens Ind Sel 41,5 61 1102 Crabbe nods Taylor > 42 92 Home T&T 5h 10. Home T&T Ft w 87 7 i Ind Assoc Tel Co. 4% 65. Inter Tel & Tel 5% 6 ndpls Water Wks 5% 66..... Kokomo Water Wks 5% 58... Kuhner Packing Co 415%: 50. Morris 5&10 Strs 5% % Muncie Water Wks 5% 65 10215 Noblesville Ht LF 62% a. . -- 100% Va Ohio Tel Co 6 va + 32 Public Tel Co’ an 56 . Richmond Wat Wks 50, 57... Seymour Water Wks 5% 49.. I Haute Water Wks 5% ... 100% T Haute ater Wks 6% 49.. Trac Term Pp 5% *Market St. Tavestment ‘Corp 25.87 26. 7) *Divi idend. By M. P. Crist & Co.). - ——————————————————————

DAILY PRICE INDEX

Lad Va 100

Dun & Bradstreet’s daily weighted price index of 30 basic commodities, compiled for United Press (1930-32 equals 100): Yesterday ....oavceisevesss..10570 Week ago ©0000 0000000000000 .105.23 Month 280 .eocecieercencsess.104.49 YeaAl O80 'c.vveve.:vsvvsenesa 110.35 1938 high (Jan. 10) .ee6.00...117.08 1938 low (June 2) .....ce0.....102.43

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TYPEWRITERS

{morning over WIBC by the Butler

NEW YORK, Nov. 16 (U. P).—|

strongly on the Hour of Charm program the other night and Paul Sullivan and other news commentators have editorialized.

Presentation of a “Know Your Indianapolis” radio program to be given at 10:30 a. m. every Thursday

University radio department has been announced by Gray Burdin, radio director. Included on the program will be information and interesting facts and figures about the City. The program will be of a quiz nature. Students from the Student Speakers and Entertainers’ Bureau will participate. » 2 8

“Davenport Blues,” another oldtime swing tune by the famous trumpeter, Bix Beiderbecke, will be presented on Tommy Dorsey’s program at 7:30 p. m. today on NBCWIRE. Mr. Dorsey is a leader in the return to Beiderbecke trend. Two weeks ago he presented “Candlelight,” a Beiderbecke piano improvisation. After the anniversary show last Wednesday in which Jack Leonard sang, there was a long distance call for him, from a young woman in Baltimore of whom he never had heard. “I'm calling for a sorority of 30 girls in Baltimore,” she said. “They all want to say ‘hello.’” And they all did. ‘But that isn’t .all. Mr. Leonard discovered, after he had warbled

Loew’s tomorrow in “The Shinin

to Love,” an -original radio play written for her, on Star Theater lat 8:30 p. m. today on CBS-WFBM. “The theme centers around | a director. : : o ” ® The latest serial story to be troduced on the air is “Mary Fose ter, Editor's Daughter” which is broadcast at 10:45 a. m. Mondays through Fridays on WIRE. Joan Banks plays the leading role. So if you are one of the r dio fans who conscientiously follows the trials and turmoils of gadio’ fictitious characters, you can add Miss Foster to your list of worries. Incidentally, a lighter mood will prevail in the chapter of “One Man’s Family” at 7 p. m. today jon NBC-WIRE. The episode is entitled “Further Adventures of Two Double Banana Splits.”

o 2 2

Shep Fields, whose “Rippling Rhythm” music is heard several times weekly on NBC, recounts the funniest thing that happened| to him on his recent 18,000-mile tour, Burdened with his many dut lies, Mr. Fields hired an efficiency exe pert to take care of the travel dee tails: of the trip. Everything was perfect until the band boarded a train for Ft. Wayne. The assistant missed the train, which was| all right except for one minor detail. He was carrying all the railroad tickets!

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NBC-RED—WEAF, 660; WTAM, 107

KEY NETWORK STATIONS (Subject to change): Be NBC-BLUE—-WJZ, 760; WOWO, 1160; WENR-WLS, 870; KWK, 1350.

0; WWJ, 920; WMAQ, 670.

,| CBS—=WABC, 860; WIR, 750; WHAS, 820; KMOX, 1090; WBBM, 770. MUTUAL—WOR, 710; WHK, 1390; WHKC, 640; CKLW, 1030; WS 2 -

» 850,

telligent service.

you are invited to our extensive facil

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$14.29. A $7 per ton reduction in

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812: rencies:

14@17c; i Leghorn hens, 11%c; spring chick:

Bad] D ny nen 3 Richfield Oil ...

16% 25% 8

ay +:

ens, 14@16%c; roosters, 110, @ 1208; broilers, a turkeys, 14@20c.

Cable

( bund) ve 84.60 13:16 —i00 15-1

Net Change.

the price of tin plate, however, lowered the finished steel composite by 70 cents to $56.50, and the iron and

All Makes Rented and Repaired Quality at a Price

Cheese—Twins, 12Va@12%c; daisies, 12% @12%c; longhorns, 12%2@1 2%c. Potatoes—Arrivals, ‘112; on track, 350; shinments, 629; Idaho Russet Burbanks, [email protected]; Colorado Red McClures (cotton 81 sacks). [email protected], (burlap sacks), $1.80@ 4 | 1.90: Wisconsin Round White, [email protected] 10; Michigan Russet Rurals. $1.02%: North w Dakota Bliss Triumphs. $1.40@1. gs: Cobblers. $1.15: Early Ohios, [email protected]; Min- 8 nesota Cobblers, $1.14. Supplies, SER liheral; demand, slow; market, about steady.

OIL OUTPUT DECLINES

nles— ol oes—Tennessee. Ro 5. Hl TULSA, Nov. 16 (U. P.).—0il proes]. Carrots—1lino 2 © itjduction in the United States de-

h. ar irk inach—Tllinois, b ] &: 3 : 4 Oats, nach inal Bnel 30a one Min. 11 11 : | clined 395,355 barrels during the week ending Nov. 12, according to

“Cauliflower—Michigan, crates, 75c@: Sunerior Oil... ‘ | S 8 I) A | C o the Oil and Gas Journal. The Jour- AM ERICAN PAPER

Ee pia. hampers. $4. Cel- | Swift & CO ..- Michigan, square crates. 25@75c. Swift Intl ‘ i t : nal set national production for the STOCK COMPANY |i GRAIN DEALERS a AGENCY, sua 2 4 oe Ld with 3 bajyels., ' -6341 Mich. | ZUR Te aT

Eng. WOODSTOCK TYPEWRITERS CO.

g. (60-d. 30 S. Pennsylvania St. Li-4712

. 16 oats rt. rs 4,69 1-16 —,00 15-16 2215, —.0001 3-16

50Ys 76 fg 17 Ri 19% 23 38 14% Ya 28% 53% 1

steel composite 27 cents to $36.29.

Safeway 5 pf. 9 § Di

Sara

+ oiHE red

16%; 2

16% 2

107 10214 21%

107 102% 21%

+11:

td oa Fechnicotor” ree

FOOD PRICES

CAGO. Nov. 18 (U. ml Mackintosh, bushel

000312

kron — —.0003 Va

Se PAPER

Sperry Corp .

.2362 Spiegel Inc ... .2098

Mie FIRE - AUTOMOBILE - INLAND MARINE

GeGony

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Inc.

35@6 B30: +: Tdaho cveet | Spanish. 358% Bribes Colorado and Utah Span-

ake (50-1b. sacks) —Tilinnis eo exag Co Ene cay T&PC&O ...... 10