Indianapolis Times, Indianapolis, Marion County, 25 November 1938 — Page 27

s

1° OF THE TIMES

Hus LEAD

: STOCKS UPWARD

INLIGHT TRADE

; Special Issues Make New

Highs; Motors Gain; Steels Steady.

NEW YORK, Nov. 25 (U. P.)— -Aviation shares featured an advance on the stock market during early afternoon trading today. Dealings continued dull. Douglas Aircraft rose to 70% 1% and United Aircraft 387% up 1% New highs were made by Aviation Corp.; National Aviation. : Safeway Stores ran up to a new high at 29% up 1% and new tops Were made by Dunhill and Schulte preferred. Steels were steady. Motors had small gains. Oils firmed under lead of Texas Corp. which gained nearly a point. Rails and utilities held steady. Bonds steadied on small opening gains in dull trading. : Rails firmed at the outset under lead of New York Chicago & St Louis 4%s at 47, up 1, and held around the initial levels through the first hour. - - Brooklyn-Manhattan Transit 43s were in demand at about a point over the previous close, but other tility liens and industrials showed only fractional advances.

up

Early dealings in U. S. Govern-|$

ment bonds centered in Treasury

issues where gains extending to 3- 32'%

point were established. Japanese obligations - had early losses ranging to almost a point in an otherwise dull and steady foreign section. . Trading activity in curb stocks fell to the lowest level in nearly two months, while prices: drifted aim‘lessly after an irregularly higher start. Transactions in the first hour approximated 48,000 shares, the smallest since Oct. 4, compared with, 77,000 Wednesday. Activity centered in aircraft and airline shares which made the best showing. Prices in the group generally were fractionally higher. Else- |p,

: where price changes were insignificant.

Today's Business At a Glance

GENERAL BUSINESS

2

. Dun & Bradstreet reports week a ended Nov.

23-- bank clearings $5,463,146,000 vs. $5,047,483,000 previ-

‘ous week and $5,283,273,000 year 2

‘ago. Dun & Bradstreet reports retail trade this week 2 to 9 per cent below year ago; wholesale, 4 to 11 per cent under year ago. Engineering News-Record reports construction awards this holiday week $49,970,000 vs. $58,780,000 last week and $72,481,000 year ago, year

“to date, awards $2,452,681,000 vs.

$2,238,590,000 year ago, up 9.6 per cent.

reports October pneumatic casing shipments 4,285,233 units, largest for any month since August, 1937, vs. 3,943,486 previous month and 3,950,920 year ago; October production 4,275,619 units vs. 3,970,397 previous month and 3,985,019 year ago; 10 months output 34,716,514 units vs. 48,533,171 year ago; 10 months shipments 32,068,433 units vs. 49,206,255 year ago. CORPORATION NEWS

American-Hawaiian Steamship Co. and wholly-owned subsidiary 10 months ended Oct. 31 profit $308,543 vs, $90,979 year ago; October profit $249,925 vs. $171,438 year ago. Caterpillar Tractor Co. October

- _net profit $349,395 vs. $550,573 yedr

ago; 10 months net profit $2,421,496 vs. $9,686,508 year ago; 12 months net profit $2, 803 677 vs. $11,799,910 year ago. Hupp Motor Car Corp. and. subsidiaries September quarter net loss; $241,041 vs. $459,177 year ago; nine|y months net loss $759,939 vs. $809,143 year ago. National Power & Light Co. 12 months ended Oct. 31 consolidated

“net income $8,582,596 equal to $1.26}

a common share vs. $8,863,931 or $1.31 year ago; three months net

income $2,228,452 equal to 33 cents

a corhmon share vs. $2,189,151 or 32|pyj

cents ‘year ago. Pacific Power & Light Co. and subsidiary 12 months net income $324,819 vs. $788,383 year ago. Portland Gas & Coke Co. 12 months ended Oct. 31 net income . $178, 967 vs. $182,625 year ago. DIVIDENDS American Ice Co. directors took ‘no action on preferred. Company has paid $1.25 on preferred this year. De Long Hook &-Eye Co. regular quarterly $1.25 on common payable Jan. 2 record Dec, 20.

P Incorporated Investors year-end

50 cents payable Dec. 22 record Dec. 3. - Lehigh Coal & Navigation Co. 10 cents payable Dec. 24 record Dec. 3 vs. 15 cents Nov. 30,1937.

. Chicago Stocks

Aviat COTY - --.sve0evan é Vs Ys id Tr Wheel ....... 1 5Ys 51s & SW Ut . .cunee 1%; 13 1% Sont £ SW Ut pf 527s 527s 5278 Eomwiin E Edison: . »» 83% 0% 20% EE akes I Dredge ...e.- 24% 245% 24% upp so canner 334 2 2 122 1215 6% 63 17% 173 1972 19% 4 25% 25% es : X nN Te 2 E ‘FOREIGN EXCHANGE ? Net Cable Rates Change » $4.64 —.01 16-16 , rate) 463% —01 Pls esse 914 —— - cea 0968 —.0001% a re. 10326% —+.00007% ng Ta LE Like Cd a ii 2074” Tlogo9 esee ess 2710 —.0012

SEE FINAL EDITION

FOR CLOSING STOCK ‘QUOTATIONS “5. AND : OTHER LATE NEWS

IDAY, NOV. 25, 1938

Consolidated Aircraft and{4m

In Rubber Manufacturers Association |In

4 ment of Agriculture.

State Newspaper Advertising

4 |

Net Last Change

1923-1936 =0 » 50 25 ~~ 0 25 1930 193) 1932 1933 1934 1935 1936 1937 1938

Indiana U niversity, Bureau of Business Research.

N. Y. STOCKS

Bv United Press

DOW-JONES STOCK AVERAGES

High 30 INDUSTRIALS Air Reduc ..... 64% 64% 64% + Lo | Wellnesday ........ccovc.... 140.88 40.32 Allegh S 2B 2s 42 3 RE + V8 Week ARO ....ccoecueseesss. 149.93 —2.85 merada_ ...... Alle 11h 71i oo. [Month Ago .......cceesees, 15107 —1.62 Am Br Shoe nz i852 4212 IT Ye ¥eAT ARO ........icicnvavin 118.26 +4.62 ar %% 8 % Y2| High, 1938, 158.41; low, 98.95. 7, 7 x7 7, Am ghaln & C. 217s Zl 217s IT 32 Hien, 1935, 190.40; low, 113.64. am Bait nie Bn i Ty 20 RANEOADS : “y 2 2 2 — 74 Wednesday ........ cecsnsee. 30.42 —0.11 Am Sal Le Y Yq 3 Am Tob BUOOT 3012 Beit gir I 73 Week Ago .....eeeeeiierer.. 30.80 —0.95 Anaconda... 5% 38% 35% + Ja Month Ago .....cocceeeunens 32.13 0.19 Aftioom 1 BA 2 3 TF Dyer age ................. Wis LW Asso Dry Gds'.. 11% 1ils 11% + Js| High, 1933, 33.15; low, 19.00, Atl Refining . #3 Qa 22% — tal High, 1987, 61.46; low. 28.91. Aviation Corp” 3 67% 6% - 14 15 UTILITIES ni Wednesday «..ccc.coee eases 22.76 40.02 wh ; Week AZO ....cooees vessseses 22.95 —0.65 3ald Lo ; 1 i ald Locg ct. 13% 18% 18% Yt ty,|Menth Ago ........dei.ii.. 20.67 —0.52 Be Asphalt. 19% 19% 19% + 1g|¥ear Ago ...........ceevien 22.28 -+1.18 Sarnsdall 17% 17% 17% + Ys| High, 1938, 25.19; low, 15.14. Bendix 23%2 23% 23 + Ya peo’ joe 3751s 1 Beth Steel 1 pt 13ie 13302 1333% 1 400 High, 1937, 37.54; low, 19.65. Beth Steel 5 pf. 17/2 17% 11% — Boeing Alr .... 32 5% 32% 32% + Ye Net Borden ........ 16% 16% 16% — High Low Last Change Briggs Mig . seve 31% 31% 31% — Ya McIntyre Porc.. 51 51 + 1 Bkiyn-M T ... 13% 13% 133% + Y2| McKesson og 8% 8% 8% +" Ya Bruns Balke .. 18% 14i 147, + Y Mead Cp pf ... 628 8 68 — 3% Butte Cop&Z. .. 3% 3% 37% —Ya| Mengel ........ 6% 6% 6% + Com idea: Corp Be 1% ow I 4 Calumet & H.. 8% 8% 8% .... |Mont Ward ... 49% 49% 49% + 3 Can Paciec ... 6 6 — VY Caterpilar T .. 4, 7 e+ Ne ent Viol Sug. . 6Y 6% sie is Ch & St L.. 2334 23% 23% “ese Ches & Ohio .. 24" 34 34 4 1! Nash Kelv .... 9% 9%... Ch M St P&P pf 1 % 1 4 15: Nat Aviation .. 13% 13% 13% + % hi Pneu T ... 16% 168% 18% + 4 | Nat Biscuit ... 25% 25% 25)z — J Chi RI&P G pf. 1% 1% 1% .... |Nat Bis pf ....168 68 8, +2 Chrysler Tate 81% 81% 81% + 34|Nat Dairy .... 13% 13% 13% + 3%. Climax Moly Co 57 57 57 +. 35! Nat Distillers .. 27% \ 27% 27% + Col Broadcast A 17 17 17 — 15| Nat Gypsum . 14% 14%, 143% — Ya Colum Gas .... a a a + Y4|Nat Lead ...... 27 267s 27 + % Com Credit .... 58 56 56 + 3,|Nat Steel ..... 92 9% 19% +4 ‘% Com Inv Tr... 60 60 60 4 15 | NY Central 18% 1834 187 .... Com Solvents. 103% 10% 10% -+ 3 |NY NH & H.. 1% 13 1% + % Comm Edison . 26% 26% 26% — 1, NY Ont & W.. 5% 5s 38 cave Comm & So... 1% 1% 1% <4 33|No Am Avn 165% 16% 16% .... Cons Aircraft . 25% 25% 253, 4 1g! No "Pacific 11% 11% 11% + Ys om Ed rts wi.11-64 11-64 11-64 --1-64|Norwalk T .... 4% 4% 4% — Cont Ba. 1% 1% 1%... —Q Cont Mot ..... 18, I Cs, Ly Goly © it 4% 4% 43, = izlonio’oN ...... 9% 0% 9% -— Crane Co ..... 38% 38%. 38% .... Owens Ill Glass 70% 70% 170% <4 9% Crown Cork 38% 38% 38% ~~ 5 Pe Crn Ck cu pf xw v 35 35 35 -_ VY : Cub-Am Sug. . 4% 4% 47% ....'"|Rac Am Fish... 17 7 7 oreo Curtiss-Wr .. 7 7 7 ¥'y Packard ....... 5 5 5 + Ys Curtiss-W A... 26% 26% 263% - 1p Park Utah .... 23% 2% 2% .... —D : patie Davis ve $13 al} ala + Ya Dlac & W... Ty 79% "Th .o. (pide rim ...Ln% }» Un + 5%, Dist Seag ..... 02 20Y2 © 20%2 — 13 |Penn Coal & C. 134 134 13% ... Dixie-Vortex '.. 12% 123, 12% + 3;|Penn RR ...... 200; 202 20% — 'Y% Dome Mines .. 3113 3114 31's 1 14 Phelps Dodg .. 43% 4372 4315 + 9% Douglas Air. : 8904 to) 6932 4 83 |Phila Read CI. 35 Y% % .... Du Sis rn 8 3% R37 ope ,8.-4 0 9 +0 a Pitts Cs 5 B N 8% _8% 8% -... Elec Boat ..... 11% 11% 11% 4 1% |F7°C & He 2 =D Erie ..... sverer BY 305 ely I V3 ere fa Radio, Th 8 8 8 + % Fid Phen ..... 84%. 34% 34% — % Republic Sti... Bu Iw 33m Zw Flintkote ...... 26's" 26% 26% .... |Reyn Spring ... 97% 9% 97 : Freept-Sul 38% 2% 2835 + 3% !Rovn Tob MN Lo. 44° 44 “tl Gi Richfield Oil ... 9 9 9 + % G AI pf ww 8 00 100 + 4 mS 8 rT f Cheers OB 1 Bim. 43% 43 43y Ly Saray pf’. ye 351 Ah + Gen Foods 31% 3 Mp — i SLI oes 160f 1607 19% — 0 Gen G& 7 7a 7 — Ya|Shell Un Of ... 14% 14% 14% + Yi en Motors ... 49% 497 49% + i2|So Am Gold ... 21s 2a 214 Eh Gen Pub sv i 1% 1h 18% I ¥|South Pac ..... we it dnt. a / 7% k/ ‘a imbel Bros ... 13% 13% 13% + if|Souh B ry wn die hi Za Graham-Paige . 1% 1% 13% .... erry-Corp ... 40% 40% 40% , SIRE CB 1h I BY iyi lad ve ilB 10% UN T 4% Grant WT. .... 27% 27% 27% ... d O Cal . 28), 28% 28% + Gt North pf =’. 35% 25'* 35% "'': Sid Quind i. 3H: Hip Nis tn Greyhound Cn | 19% 19% 19% + '%|Sitd Oll NJ... 51% 51% 81% + 1 Greyhound a: HE 07 1% I ARlSeand. ns Ye Un + 1 hi I unshine Mine . 10% 10% 10% .... Homer 1 BR 3H 0 mn Pes Y Houston Oil .... 8 8 o > 4 Foxes un ee Sie S308 San +3 Hupp Motor ... 2% 2% 2% + '%|Timk-D Ax .... 175% 17% 11% + % = ae] ts Ind Rayon ..... 26 98 Ly, Re Tran a a. I , /4| Truax Tra 453 pia sires Inspiratn_Cop ! in le% 6% + ia|20th cent Fox. 26% Al 26% + '% Int Business, M mim” om ho rh id qT eee BY t Nickel ..... 53% 53% 53% 4 %|Un Paside 9314 032 oth FU Int. P& 48" 46° 46... '|Un Alcraft Cp 38°. 31% 31% + nt Silver . 30 30 30 — 1 |Un Air Lines 12% 1234 123, — 1 nar ~ sR a LT] Kennecott ...%. 43% 45% 453 4 or 7. * I 0 Kinney Pr of. [612 iit 182 © fipnied FO cf Mh By TC & aad 3 3 Ys 3 Xa Kroger G&B ... 20% 30% 20% — ig|USForSee.. 11” 11" 11° +4 tos t- BS mer a WM, SF SIMAn i... 6% 26% 26% — 3 ee -, 86% a 3-1 Lehn & Pink 5 j = U S Steel pf....117 117 1117 1 ki 1% 13% — Wlgsiob....... 3% 3% Mn I 4 L-O-F Glass 54% 54% 54% + me Wn Lone Star Cem. 4 57% sss > % Weiner Til soe TL oo ot ri Lorillard ....... 19% 10% 19% — West Union 25% 28% 25% * LY —M— Westing El ...116Ys 118% 116% 4 1% Maracaibo Ex.. 1% 1% 1% .... |White SS D.... 14 u + J Marine Mid .. 534 534 5% $Y Worth... ...... 20'2 20% 20, — 3% Market St Ry pf 9 9 +1 Worth cv pr pf 48 48 48 -_2 Marshall FId .. 12% 12% 12% + % =Yer athieson S330 35 3a 3 : May Ds... 48" 48 . Ly! Yellow Ir of. L108" pI +2 raw Hill .. 11 11 Ft + % Yng S&W 20 20 — 1

LOCAL ISSUES

quotations do not repre-

nt actual bi or offerings, but merely

year was $5,803,000,000, a decrease of 14 per cent from the same period of 1937, according to the Depart-

Cash income in October totaled

Arrivals, 113; on. apne, 307; Shipments. ursday

Foie, Lg

01 85: i S

N. Y. Bonds

BOND PRICE INDEXES

indicate the approximate market level based on buying and selling quotations of 20 20 20 60 recent transcctions. Stocks Inds. Rails Utils. Bonds * Bid Ask Wednesday .... 869 59.5 99.6 82.0 Belt RR & & Stock Yds som... %s 54 |Week Ago ..... 87.0 59.6 99.5 82.0 Cent 1nd a Tos 8 itaeds 33 4p Month Ago .... 87.2 60.3 988 82.2 Home T&T Ft Wayne 7% pfG. 52 54 Year Ago ...... 80.1 69.3 92.8 81.1 doo Duet ne on Ce ere aly 102 13 |2 Years Ago.... 94.3 98.5 105.9 99.6 M&A gn. pla 1108 jor [1938 High ..... 83.3 = 700 99.7 83.0 Ind Hydro- Beciric” Fo % ped. 68 [1938 Low ...... 4.9 479 813 v0.7 IndRls Gas OP Spy io 5 1937 High ..... 95.0 1012 1060 100.7 Jadpls FSU 0, PI TI00% 1991,[1987 Low ...... 80.1 69.3 923 8L1 Indpls Water Go 5% pid...’ 103 .. °|1936 High ..... 94.8 100.4 106.2 100.2 Lincoln Nat I ife I Ins To com. 24s 2, 1936 Low ...... 0 847 1035 93.3 N Ind Pub Serv co sa % ‘ofd.. 74 3 Sila (Copyright, 1938, Standard Statistics Co.) N Ind Bib Su Se bt pd irene 8 i *Progress Laundry Co com ... 1 11 3 s U. 5. GOVERNMENT BONDS erv Co of Ind 7% ptd... 42154 451% Treasury Bonds Pub Serv Co of Ind 6% old. . 24 27 ; igh So Ind G&E %» pid. . 93 95 (3s 1048-46 1885 195% 3.5 T Haute Title Elec Co com.... 25 28 1 a : 25, 123 van i ee Coy 0% 28 |e 1933: ees 118.18 118.18 118.18 Van Camp Milk Co pd oo 10 11% AE 19655 cvsreers. 102.13 12:10 - 105.1 Bonds Home Owners Loan Bonds Amer Loan § 2 .» : Citizens ind rei digs 81. 1 338 108 iss! lwomzess ......... 19690 10810 10636 cull dh tngua ll 8 RH Home T&T Ft W 6% 43 .....104 108 % High Low Lact nd Assoc Te 4% 65 .. cvenr 105% 107% Argent 4158 MY Liiva 8 in 87% ndpls Railway Inc 5% '67..0..40" 53 Argent 4s'712 Feb ...... 0% 19°. 79 nter Tel & Tel 5% 67 .. ..... 5 ndpls Water Wis $i is et 105 108 Belrium 65 55 ........ 104% 1047 Kokomo Water ks 37 58... 102% 104% Brail as 20-87 oor ool Kusner Packin > 4 i 5 ; 8 Morris 5810 Strs xs 5% @ 8 ho 98%. io Cuba sas 45 0. 7 8 uncie Water % 1; 5 ’ Noblesville Ht La? 6%; hob 5 10812 i031 | German 3i4s 65 24% 24% 7...100% 103% Oo Te So $7 2 % 88. 33 joo Tn Tos s 54 ... a ay 7. “oe 2 see Richmond Wat Wks 5% 51. 188 103 |J=pan sizs es ill 64ia 641 THRE Whe WE 82 Cin, 80 oon Sali T Haute Water Wks 6% 49 Lg 8 DOMESTIC BONDS Low t ac Term Cor 63 s * m TT 3%s 66 ....... 105 1047 1047 “Bhiden, St Tnvestmeat, Corp. 35. 87 26.944 B&O et 6s c 35 an: 17% 17% 17% v M. P. Crist & Co. 288 Sigh or Ey an 13 an Na y 2S Ya 115% 1157 ’ Ch NW gen 5s 87 1s 6 16 YEAR'S FARM INCOME AWEELLTE B ons Ss Jus ory Yo 106% 106% . ; Goodrich 68 45 ........ 0 100 UNDER * 1937 FIGURE [sooth 833 ooo: 01% ‘ot ou Int T&T 4s 52 85. 63: 6 ees ' Loews Inc 314s 46 .... 102% 102% WASHINGTON, Nov. 25 (U. P).INY Gent aves 2013 1.0. 085s 0332 103s Penn RR cn 4s 48 .....109 109 109 —Cash income from farm market-|Seab Air Lin 6s 45 ... 9% 9s 9% "|ings in the first 10 months of this| Young S&T 4s 61 .....103'3 103% 108%

Curb Stocks

Net, Last Chan 2

H $T71000000, an increase of 12 per| Aw sup B gh LOW - Last Cha cent over September but 8 per -cent| Alum Co “134 1p4 AM... below October of last year. Am LaTr 2 an He pn —"'% The Deparment said a revised 4m Super .... 4 % % .... report now indicates total {farm ia-|Bell Air... ge gn 23 come from marketings and Govern-| Bellanca Air .. 10% 104 10% - % ment payments this year will reach DS aE ro. 100 10 105 + $7,625,000,000 compared with $8,600,-| Carrier cor 19% 19% 19% — 3 000,000 last year. Gieaoue, ? PEI, Mie Te 1 Ja oe aisopuiin sais Dp CHICAGO PRODUCE |Goi'ost =": %y 8 %, 7 1 trie / 8 ls Butter—Market, firm! ty, gou51a! So8 Cop Mas. 7% 5 gross lbs. extra firsts, 90- gy 31, | Stecle Feb i BR 20% + % @36%c: extras, 92 score. Tac; firsts. 25a 3 GashiFuel .. 1% 1% — ci seconds. 29%c: specials, ‘03 sore El Bd&Sh . .... 10% 10% ... age biandards.. 20% G76: central. | El Bd&sh 6 pf hr 65a — Yi Poy score, 25c; centralized, 89 score, Glen Alden “ . 2 A ’ 5.5 Spa - 2 Market, steady: receipts, 34e4| Gulf Of [Illi Ww. .. ases; fresh graded firsts, cars, 27%c; less| Hecla Min .... 9% 9% — VY than car, 27%c; extra firsts, cars, 30c;| Humble Oil ... 66% 86% + Ya less than car, 30c; checks, fresh, 2lc;|Imp O Can ... 17% 17% + storage, 20c; current receipts, 26c; dirties,| Insur No Am.. 67% 61% — fresh, 21¢; storage, 20c; refri gerated ex- Lehigh C&N .. 37% 3 ue i tras, 233;c; refrigera standards, 23%ec; | Lockhed Air .. 29% 29% <- PH refrigerated firs Mont Ward A..160 160 3 Pou liry—Market, unsettled; receipts, 24| aNt P&L pf ... 70 70 + ha trucks; ducks Geli: geese, 16c; hens, |! N J Zi 82 62 — i2isi0%e; Leghorn hens, Ilse: spring Nise Fugly == chickens, 14@15%z¢; : ‘xoostets 111, @13%¢: | No Am L&P ... 15% Sis. a broilers, 17@18c; i eys, 23c. P SE tp i, is + heese—Twins, Hef 3c; Daisies, 18%@ | pay 5 is wt 38 a 38% oe 13%ac: Come BLE i Modefat demand. Pn An » HN ¥ otatoes e: demand, | Senproad ...... sees light: market oe, 1 + + ¥ —

STRONGER CORN PRICES FEATURE TRADING AT PIT

o| Wheat Hovers Around Last

Closing Levels; Oats | Are Steady.

CHICAGO, Nov. 25 (U. P)— Strength in corn featured trading on the Chicago Board of Trade today. Wheat prices held near previous closing levels. At the end of the first hour wheat was up % to off % cent, corn was up 1% to % cent, and oats were

unchanged to 1% cent higher. Buying in corn was ‘encouraged by colder weather conducive to heavier feeding. Shipping interests and locals were noted on the buying side as prices worked fractionally higher after a firm opening.

ALLOTMENT IS SET FOR COPPER OUTPUT

Cartel Decides Restrictions After Stocks Mount.

LONDON, Nov. 25 (U. P.).—Faced with the threat of rapidly mounting world stocks and an unexpected falling off in European consumption, the International Copper Car-|2 tel has decided to discontinue unrestricted production of the ' red metal effective Jan. 1, 1939. The production allotment for the first quarter of 1939, the Cartel announced, has been fixed at 110 per cent of the basic quotas. Decision to discontinue unlimited output: of copper came scarcely one month after the Cartel—representing all major copper producers outside of the United States—had removed all restrictions on production because of heavy world demand which gave rise to fears that a sup-

-Iply shortage soon might develop.

Demand in Europe, however, has fallen off in recent weeks, although the consumption trend continues upward in the United States. October statistics disclosed that output was running ahead of consumption in all areas but the United States, although the unrestricted output had been in effect only 16 days from Oct. 15. World stocks in October showed 'a moderate decline, the sharp usage rise .in the United States offsetting the consumption declines abroad. Copper sold here on Oct. 15 at an American equivalent of 11.70 cents a pound. Since then, prices have fallen to 10.55 cents.

tions the Cartel had fixed the production rate at 105 per cent of Ine basic quota.

DOW CHEMICAL PLANS MERGER

MIDLAND, Mich., Nov. 25 (U.P.). —Dow Chemical Co. stockholders will be asked to vote Dec. 22 on a proposal for merging the firm with the Great Western Electro-Chemical Co. of San Francisco, according to company officials. The statutory merger plan has heen approved by the Dow board of directors. Dow officials said the

proposal would mean absorption of the California Corporation for

| Pacific Coast trade.

Under terms of the proposed merger stock of the Great Western company would be converted into 3/16 of a share of Dow with par value. Great Western has outstanding 94,550 shares of preferred stock

land 69,260 shares of common.

LOCAL PRODUCE

Heavy breed broilers, 412 be and over, l4c; hens under 4!2 Ibs. hens, 9c; heavy breed hens. and White Rock springers, over, 13c; colored springers, 1%; up, 12c ghorn broilers, 11% lbs. over, 1ic; spring clickens, 2 Ibs. and oon 13c: old roosters . White ducks, 5 Ts: and over, 10c: white ducks, under 5 Ibs., 8c: colored ducks, over, “ag; colored ducks under 3 8. eese, 9-12 lhe, 10c¢; young tom burkeps, 14 lbs. and over, 15¢; young hen turkeys, 9 lbs. and over, 17¢: breast turkeys, Tie: old tom HI lic; i yn tl p? h t Jo. strictly teh coun ry Sun RES, 25c; each full case must weigh 54 lbs. a over; a net deduction of 15 cents for one full case under 54 lbs. will be made; pul-

let eggs, 14c. utter—No. 1, 281% [ze No. 26@ 26'2c. Butterfat—No. 1, 7 19¢c. (Prices quoted by Weley Coy)

* FOOD PRICES

CHICAGO. Nov. 25 (U. P.).— Michigan Mackintosh, bu, Sweet Potatoes— Tennessee, 75@95¢. Carrots—Illinois, Spinach—Illinois, bu., 30@75c. Caiifornia, lugs, [email protected]. Nev York, crates, $1.75@3. Peas—California, hampers, $3.25¢24.75. Celery—Michigag. {Square Srates 25@85c¢. Onioh Monger (50-1h. sacks) —Idao Sweet Spanish, 92 @950. Minnesota Yellows, 80c. Colorado Whites, $1.25.

$1. Tarps 75. ‘bu. hampers,

Cauliflower—

TELS

Prior to the removal of restric-| Net

crooked |

Heavy Hogs Gain 25 Cents; ~ Vealers Up

There were more orders for hogs here than supplies could accommodate, although the market was the largest in the country today, according to the Bureau of Agricultural Economics. Hogs scaling above 160 pounds advanced 15 to 25 cents, with the full quarter gain on weights above 280 pounds. Top for 160-170 pound averages was $8.15. Most of the underweights and pigs sold five cents lower. Packing sows remained unchanged at $7.50 to $7.75. All slaughter classes of cattle moved readily at steady prices, witn heifers in light supply. Vealers gained 50 cents, with best; selling for $11.50. Stockers and feeders were scarce and firm. Medium and good shortfed heifers made $7.50 to $8.50. Fat lamb values were steady at $9.75 top. Most of the 4000 received were fed western offerings. Finished yearlings sold for $7.75. Slaughter ewes bulked from $2 to $4.

SHEEP AND LAMBS (Receipts, 4169) _ Lambs $ 9.50- 9.75(Medium . 9.00- 9.50| Common .. Ewes

Good and choice. ......... 4.00 Common and medium.. 3.00

CHICAGO LIVESTOCK

Hogs — Receipts, 17000; directs, 6000; holdovers, 300. Cattle—Receipts, 3000; calves, 300. Sheep — Receipts, 3000; directs, 5500. No market due to strike.

OTHER LIVESTOCK

CINCINNATI, Nov. 25 (U. —H Receipts, 3800, none direct. Market fa om active, unevenly 15 to 25 Soh fgher; JoD, $8.35; 120-200 Ths, $3.38; 260 1 300-350 lbs. [email protected]’ 200. 130 1bs., le 7.50; sows mostly $6.50@17. Cattle—Receipts, 700; calves, 400. + Market strong to 25 cents higher; odd head gholes Steers to $11; medium to good, $8@ 8.50; down to @17.50; ood Lisht ili és. [email protected]; ; good beef cows, $6.25 @6.50; top bulls, 6. pulk cutter to medium, Pes, vealers Ls op $11.50; i ‘and choice, $11@11 Sheep—Receipts, 300; market 30 ive; 25 cents higher. Culls, $6.50 down; slaughter ewes steady, /mainly $2@3; old, ‘thin lightweights down to $1. FT. NE, Nov: 25% 5-0 P.).—Hogs— Market, 20 cents eh 160-180 ibs., $8.10; 1bs., 200-220" 1bs., $7.90; 220-240 lbs., $7.80; 240-260 So $0 260-280 1bs., . ; 300-325 es: $17.55;

<<

Choice .. 7.50- 9.0 Good sen 3 6.50- 7.50 #8 3 00- 4 . 2.00-

3

325-350 1bs., $7.50: 140-160 1 120140 Ibs., $7.70:.100-120 lbs., $7.55. Roughs,

$7; stags, $5.75; calves, $11.50; lambs, $9.25. ee ————————————————

DAILY PRICE INDEX

NEW YORK, Nov. 25 (U. P.).— Dun & Bradstreet’s daily weighted price index of 30 basic commodities, compiled for United Press (1930-32 equals 100): Wednesday ...ooeccececceccs . 105.21 Week aZ0 .«+vssesvrsssssness 105.60 MODERN B20 ... 1 oenvsssseees- 104.00 Year ago .........veeseesss 111.13 1938 high (Jan. 10)...e00... 117.08 1938 low (June 2)........... 102.43

U. S. STATEMENT

WASHINGTON, Nov. 25 (U. P.).—Government expenses and receipts for the current fiscal year through Nov. 22, compared with a gar 20:

s Yea ast Yea -$3, 486. 126; £69. 35 $2, gor a 432. 2.94 .85

Expenses Receipts .. 2.163.464,922.50 2.247, rots Def. 1,322,661,546.85 714.7

: 902, 160.96 12.779.024,426.66 Customs .. 132, 2 384.51 176,209,471.06 INDIANAPOLIS CLEARING HOUSE

CleaTings: a uci anirianisnen «++. $3,291,000 Debits : 00

ae NSE 1349,

SPECIAL DIVIDEND X SAN DIEGO, Cal., Nov. 25 (U. P.). —Directors of Consolidated Aircraft Corp. have declared a special dividend of $1 a share on the common stock, payable Dec. 19 to stockhold-

BEST SEASON IN TEN YEARS 1S PREDICTED

Retail Sales for December to Set New Highs, Says . Trade Analysis.

NEW YORK, Nov 25 (U. P.).— Retail stores throughout the nation are looking forward to one of ‘the best Christmas seasons in- nearly 10 years, according to a trade analysis issued by the National Retail Dry Goods Association. The Association estimated that

sales of department a.nd anparel specialty stores in the four weeks preceding Christmas would at least equal the 1937 figure of $1,200,000,000 and might even top the 1936 total of $1,240,002,000, which was the highest for the Christmas

Local corn receipts were estimated! Nov. Top Repts.|Nov. Top Repts.|period since 1630. at 181 cars. 1s oe. 8 3% wid 3 coon 3.10 3136 “A good Christmas season from Wheat prices steadied after, an| jg ii 790 “gso0 23 i 800 ei; the standpoint of buying will irregular opening. The encouraging| 19 ... 7.80 3200] 25 .... 8.15 12,000] naturally stimulate the hopes for action of corn was a constructive Packing Sows increased recovery in 1930, Lew factor. Changing operations were Barrows and Gilts |Good— 110- 788 Hahn, general manager of the Assofairly heavy. Choice— 340- 425. 60- 7.75 ciation said in presenting his anLiverpool wheat closed % cent 14u- 100 $ 7 83- 8.15) J25- 5 - 7.60| alysis. higher for December wheat to 1% iso- 200. 7.95- £10 275- 550 7.15- 7.65] On the basis of the Association’s cents lower for May: wheat in com-j 200- 220. 7.30- 290 go aughier Tins figures, the Federal Reserve index parison with Wednesday's close. 550. 290. 7.80- 7.90] 100- 140. $ 7.25- 7.75| of department store sales for DecemCheaper Argentine new crop: offers | 290- 300. 7.75- 7.85 Medium... 7.00- 7.65 per would at least equal the index depressed the distant futures. Win- ls (Receipts, mo figure of 89 recorded in December nipeg wheat held about unchanged. |. :.. © | an eights 1937, and, barring unfavorable Export sales of Manitobas were oy 10.50.11 = gapis g250 1.00 weather or an interruption in the - 75-12. . 10" | . : scattered, with one cargo sold to the 0071300 17°60712.75cut., com. 4.75- 5.50| general business advance, might {United Kingdom over the holiday. 1300-1500. 11.25-12.78) Vealers reach the 92 figure attained in the India purchased another cargo of Goods, gop 10 6! ‘Choice $11.00- 1150/1936 Christmas season. Australian wheat. . S00-1100. §.00.11.00) Good 0.50-11.00/ The highest point reached by The weather map indicated con-|1300-1300. S43-1138) Medium "8160-1050 this index during the depression tinued cold with snow in most Medium- common, _6.00- 9.00| years was in 1930 when the Decemstates in the grain belt. 1100-1300" pB00- 9.50 (Receipts. 331) ber sales barometer touched 9% eres Common Choice— r cent of “normal.” By United Press 750-1100. 6.50- 8.00] 250- 400. - 9.00|P& (U. 8. Equivalents Based on Sterling at ? 0 0s 5:00 9.00 The Association also pointed out Ha) ow | lose Eloi Good ers Medium .. 6.00 1.00/ that, even if dollar volume shouid Qotember i. $ 62% $ 627 2 $ 62% 2% $ 62% | T50- 900.$ 8.25-10.25 Feeder and only attain the minimum ‘estimate Maron, od. 630s 020 Bll | Clee 0.50-10.25] Goog ker Cattle lof $1,200,000,000 during this period, | May, ol = 831 fla 53% G32 Medium— 5.055 3.50 500- 900.8 17.75- 29% the actual number of items traded A oY isons “Tih Thier tl NA Bo 0 15. Al iy. 150-519 sores store counters would be conSmm—— 550- 900 o> 75-'1.25 | 250-1050. 2.00- 138 siderably larger than in i937, since WAGON WHEAT Bt ob rices in the department store field grain el elevators are paying for N b.| Good. 3 8.25- 1 7.00 Good A Choices p SS - 7 per Par lower than last oy 5¢; other grades on their merits. Na Ba. EH 350- Toa i ers o- 8.00] 2Y€ 2 pe 0 : Cath corn. new No. 2 yellow, 40c. Qatls,| Foo otter Common and year. ; & cutter. 3.75- 5.00i medium. 5.50- 7.00

ADVISES U.S. TO USE BARTER TECHNIQUE

Survey Warns Democracies Of German Economic Bloc.

NEW YORK, Nov 25 (U. P.).— The United States and other democratic nations must adopt the German barter technique or give up their trade in Central and Eastern Europe, according to a survey conducted among leading foreign economists by the National Industrial Conference Board. ’ These experts told the Board that, since the Munich pact, Germany has taken steps to cement her political and economic bonds with Hungary, Poland, Jugoslavia and the Balkan states. “Since these. countries, united ‘as

duce! practically all the: primary ag-

ities,” the Board pointed ouf, “their trade with Western Europe and the Americas may soon be replaced by commerce between themselves.” The foreign economists suggested that these: important markets could be saved: scrap their present policy of ‘extending credit primarily for the sale of their own goods, and adopt the German method of agreeing to buy foreign goods and then offering their own products in exchange. In addition to accepting this “buy first” policy, the democracies must lower their tariff barriers against imports from totalitarian states and conclude reciprocal trade agreements, the Board’s advisers said.

OIL DRILLINGS INCREASE

OIL CITY, Pa. Nov. 25 (U. P.) — Oil well drillings east of the Rocky Mountains increased during October as compared with a decrease in September, according to a report by

oi the Oil City "Derrick.

October completions comprised 1558 oil producing wells, 535 dry holes, 154 gas wells and 69 in eastern fields for secondary recovering purposes. This was compared with 1456 oil producing wells, 531 dry holes, 187 gas wells and 67 secondary wells

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TONIGHT %:30—Lucille Manners, WIRE. 7:30—Burns and Allen, WFBM., 8:00—Hollywood Hotel, WFBM, 9:00—Guy Lombardo, WIRE, 10:45—O0pera, WIRE.

. Tomorrow the Metropolitan Opera begins its eighth consecutive season of Saturday matinee broadcasts, thereby quieting the summer rumors that the series would be discontinued this year.

And, to celébrate the return, the management has chosen something of a novelty, Gluck’s “Orpheus and Eurydice.” In the two name parts will be Kerstin Thorborg and Irene Jessner. Marisa Morel, who made her Metropolitan debut earlier this week, will sing Amor, and Marita Farell will be heard as the Happy Shade. Arthur Bodansky is to conduct. WIRE will carry the broadcast from 12:55 to 4 p. m.

first production in Vienna in 1762, a moderate success in the midst of many Gluck failures. Its first American performance was in 1863, to an English text. Tomorrow, however, it will be sung in the usual Italian. ” » ”

There is more opera available tonight. Kirsten Flagstad in “Tristan and Isolde,” to be exact. NBC-WIRE is going to broadcast the third act from the Chicago Civic Opera House at 10:45 p. m., and if the FlagstadIsolde combination isn’t worth an hour’s sleep, nothing is. The others of tonight's cast are Paul Althouse as Tristan; Douglas Beattie, King Mark; George Czaplicki, Kurvenal; Hertha, Brangaene, and Giusseppe Cavadore, the Shepherd. Henry Weber, the WGN music director, will conduct. 8

“Orpheus and Eurydice” had its|.

Glatz, |

{Employment Bureau workers

ON THE RADIO

All this is almost forgetting football, but. opera isn’t, crowding sport off tomorrow's calendar. CBS, in fact, has four hours and a quarter

set aside for the last big football week-end. Ted Husing will go on the air at

12:15 p. m. for a description of the

colorful marching which precedes the Army-Navy game at Philadelphia. He will proceed with a play=-by-play description. on WFBM at 12:30. Just after the final whistle blows, the scene. of action will shift to Dallas, Tex., whence Bill: Ware will bring you : accounts: of the Texas Christian-Southern Methodist

Felix Schlag, “German-born vib. tor, will tell radio listeners how a 5-cent idea made him $1000 on.tonight's NBC Jamboree (7:30 p. 'm,, Blue network). Mr. Schlag is the

prize-winning designer of the new Thomas Jefferson nickel. ” s » Gale Page, who got her start in radio before going to the movies, will return to the microphone to~ night 4s a “Hollywood Hotel” guest, And Amos 'n’ Andy will pay a visit and, by popular request, repeat the dramatization of their lives which the team presented early this year, Miss Page will appear with Wil liam Fowell and C. Aubrey Smith in an air dramatization of the fane tastic “Death Takes a Holiday.”

8 =» =

An fair tour” of the Indiana State Employment Department: is booked for tonight's Junior Cham ber of Commerce broadcast (9:45 p. m, WFBM). George L. Smith, department manager, will be interviewed by Fay Langdon, and several “will make their debuts as radio ‘actors on the program. » 8

7

®

THIS EVENING

(The Indianapolis Times is not res i : “ane nouncements caused by station changes Stor oh a jeusasies 18 programs INDIANAPOLIS INDIANAPOLI CH

Tea Tunes ” »

s Marvel Meyers

1CAGO CINCINNATIL M_ 12 WGN 720 (CBS Net.) (NBC-MBS) (MBS-Net.) (NBO MBS) * March of Games High Schools Louis Rich Hann 3 Santa Claus New Johnsen Be amily | ag Leaders

Orga Jack Armstrong

First Nighter Burns & Allen ” »

Concert » ~ ”»

‘Newspaper of Air

Interviews Tone vderson Paul Sullivan Ho-Po-Ne Club Lone Ranger ‘Cinnamon Bear: Don Winslow Prone” po uw ame. Dlr dpe, Sophie Tucker Police Court Orphan ie Lower Thomas’ News Marvel Meyers Capt. Midnight Amos -&. Andy. Lum & Abner 4A n C Jack Haley Personal Plans Bob Elson * Er Ho

Tim Healy Inside Srorts What's My Name Robison’s or.

Inside Sports - What's My Name 104s Ranger

$53 8833|6853 8853/6853 £EES

Hollywood Hotel Waltz Time Crimson | Wizard Jamboree. 8... Death Valley Tomorrow’s Trib. i : ” ” 3 ” Kemp’s Or. Death Valley . 9 Grand Central Guy Lombardo Curtain Time Oven House ae 9: Music Moments Uncle I Need A 9:45 Jr. C. of C. ey mum fa pAdd Pulm 10:00 News Amos & Andy Old Heidelberg . Jo:18 : 1 Heys Or, News, 0 % Little's or’ : Fas Sairas~ : . na . . ! §0:30 b] ¢ Dana's r. JKemp'’s Or. Playhouse 11:00 Lyman s Or. 1 » . ? . 1:3 finer Toss 7 on 3 Root vr. Mom Em 3 . Barrie’s Or. . Garber’s Or, e t 2rd 11:45 ov Garber’s Or. WAIHI Barts Or. SATURDAY PROGRAMS INDIANAPOLIS INDIANAPOLIS INDIANAPOLIS ¢ NCINN WFBM 5 WIRE 1400 (WIBC 1050) onvema ao CBS No (NBS-MBS) win (NBS MBS) 6:30 Early Birds Roundup String Busters -Lampli on 6:45 w a Devotions Hoosier Tigers Get tinted In » » Musical Clock Breakfast Jam Today Sone ; jig» - wo» nn.» You Name 1 7:45 ” ”» ”» ” ”» » * 8:00 rgan Musie News ews . 8:15 Matana Slim Dessa Byrd Nema or Fishface Breakfast Club 8:30 Fiddler's, Fancy Baby Clinic Top Notchers oN 8:45 Breakfast Club Devotions °° ~ ‘Synagogue of Air 9:00 Hillbillies Alec Randolph 9:15 Clyde R. Miller Hymn py Bay Buel Eseinbis » 9:30 4 Corners Charioteers Parade M 9:45 ” » » 2 ” ” a9 0:00 Serenade Music Fed. Monitor News yaugha Be Leath 10:15 32 ” adio Citv 4 hvth 0:30 Children’s Hour Church ‘News Variety: Maken Mod Bi 10:45 nn Army. Ba 3 Arey ane 11:00 "i. Safety Talk ; i arm Circle Far ” » 11:45 Markets Am BUF Boy Greets Girl _ Fare age 12:00 Meditation o oF i ”» Back Home : We ey 3 ews eadlines Covered W : - ~ 12:30 Army-Navy WIRE Reporter Rowodep ROR Arty i ph 12:45 3 » Campus Capers Rangers I" 3 1:00 wen Opera t yu IN 2 Sm. Tropic Moods ~~ % * 1:45 ”» ” »” ”» Dance or. y oo» . ”» ”» 3:0 » ”» » » Varieties, » = » 2:30 ”» ” ” oo » ” » ”» 2:43 ”» ”» ” ”» ”» ”» ; ow ”»’ 3:00 Charles Paul 9 ” J. Savitt’s Or. Unanunounced 3:15 il n William Appel pe 3:20 Dancepators » ” Humdingers ” ” 3:45 2 ” a ” Jennie Sheffer. nn...» 4:00 Scholarshi Rhyth ho.» nm Te os Gosdlon's Or: - 1 . Kaye's Or, Si li 4 ‘Gordon's "Or, 4:45 ” ad wove) . Sin 0 2 . Paul Sullivan.

KEY NETWORK STATIONS (Subject to change): = NBC-BLUE—WJZ, 760; WOWO, 1160; WENR-WLS, 870; KWK, I NBC-RED-WEAF, 660; WTAM, 1070; WWJ, 920; WMAQ, 670. ~~ CBS—WABC, 860; WIR, 750; WHAS, 820; KMOX, 1090; WBBM, 710." MUTUAL—WOR, 710; WHK, 1390; WHKC, 640; CKLW, 1030; WSM, 850.

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