Indianapolis Times, Indianapolis, Marion County, 31 December 1938 — Page 15

ngs in the final session of today. Bonds moved highmoderate turnover. .Most pdity markets were closed for ¢ Year holiday. ; tion stocks were firm. Aviaequaled its high for at 8%, while North Amerviation firmed % to 19% on D0-share block. ties developed a better tone, ¢ Service leading with % ‘point Rails were steady. ern Pacific appeared in a 1000oek at 20%, up. 1%. and Furnace gained % point tkote 12 point. Loft was after opening 1000 shares at “3%. Du Pont opened unat its high for the year

D net income $11,931,598 equal ‘a common share vs. $13,-

‘or $2.53 a share in the pre- Cal & H

8 12 months. ociated Gas & Electric Corp.

30 preliminary net after taxes retirements $34,974,869 vs. $35,~ 4321 previous 12 months. arolina Power & Light Corp. 12 ths ended. Nov. 30 net income 56,736 vs. $2,627,724 previous 12

ended Oct. 29 net loss $136,377! t profi $75,666 or $1.07 a share Jus year. nt - DIVIDENDS

oh Do New York Trap Rock Corp. $1.75

on preferred payable Jan. 3 record Dec. 28. Payment covers final 1938

quarter and clears up dividends in EH

Des 31

| Am

Bald Loco Balt

Can Pac .ecese : Case J1 subsidiaries 12 months ended | Selanese Ches Cor Ches Ch E I

Ch Ch MStP&P pf Chrysler Clim Col Com Credit . Comwlth Edison Cong-Nairn Cons

Sur

Davison Chem , Del & H D Lac 7 Wo Dousias Air .

dsissionl 1,290,000 SQ. M

ON LO 2.7 MILLION ies S

Science Service—Pictorial Statistics, Inc. 12-31

N.Y. STOCKS

By United Press

—L

High Adams Mil .... 21 Air Reduc ..... 66% Allegh i

Allie] als Am C Am Enc Til . Am & F P.2 pf. Am Nels Am Rad & Am Am Am Am Am T&

Hain&C .« 35. 4% 3% oh

88 . Safe Razor. ov Stl Fdies . +4008

Am Woolen pf.. Anaconda

t1 z .. 22Y; Atlas Corp . .

Austin Nich ...

Aviation Corn..

pit

+E HE + Ser ees

es 0 ® ae eo ® eee

Nt FAY oeee

+HH++4 +:

pf ool W_ R pf

h G M SiP & P

M Co .. Gas

Alrcraty” :

iss- Wr A

Dow Chem eh

PiElE HELE EE EE

I+ +E i: =e oe

+: 8

1” migh, 1988, 158.41; low,

A N Panifie caso ane Ta

# | Ohio Oil

8 | Pac

iL: BUSINESS

HOLDS NEAR PEAK

Post-Christmas Trade Above, & Same Period in 1937.

YORK, Dec. 31 (U. P.)— vely post-Christmas business ned the drop in retail sales week from the preholiday peak, gton Dun & Bradstreet, in its weekly trade survey. olume for the week was esti- | 1 to 4 per cent in excess of e ‘corresponding 1937 period, com“with a year to year decline around 2 per cent last week:

ale trade was 2 to 4

above a year ago against a 1 » cent decline last week. y very few orders are writ- | E at this time as both wholesalers

hd retailers are concerned with of checking inventories.

esale houses busy,” stated. “Stocks “badly broken an

sales.”

A cold wave “stimulating buyf~ winter apparel and foot- * also aided the upward trend.

N. Y. Bonds

: BOND PRICE INDEXES 20 20 20 Inds. Rails Utils. 86.1 60.8 H.1 . 85.8 59.4 98.4 863 385 99% 80.3 1.2 91.0 . 943 100.2 105.6 90.0. 99.7 47.9 87.3 101.2 106.0 69.3 92.2 1002 © 106,2 84.7 103.5

: ol e Cl “3s go tertrasasnnsans, ne Vs

a 2148 -103% Hae AL oi 0 5 Seoseean onic Ry 55 .........000 reennreses O18 eo NNO 66

IA TRUST. CO.

3 — ban Bank

National Bank

of Indianapolis

IRE

al adY

Calls merchandise for January and ary promotions, however, kept the authorwere report-ill-assorted in lines, and, in many, inadequate eet retail demand for midwin-

Bonds

ce.

Hin

per

the

82.0

81.2|Un Lt P A

81.4 81.8 100.0 ‘83.0 50.7 100.7 81.1 100.2

. .

++ .

Foster Wheel ..

Gen Am- Tr ... Gen Bronze .. . Gen Cable . ...

‘Gen Motors ...

1}: +b:

Green HI .... 27% —H— ie 31Y; .. 3, 6

Harb Walk 31% 3a Holland Furn . 50%

74 Hudson Motor .

Ill Central .... Inspiration C .. Interchem Ve Interlake Ir ... P&P.

19% 16 °

28 1415 145 51 802 9s

SIE HL

een

Rennecolt resge SS Kroger G&B .. 20a Lambert . Lee Rub .. Lehman . Loft, Inc Lone Star Cem Loose W Bis ...

«» 15% 15% ce. 30%a 30Y, . 27 27

++: 1+ ++

12%, 36% 53 6% 145s 9Ys 115%, 52

Curb Stocks” *

Marshanl la Ri Martin . : ng Toons . Minn Moline . Mission Corp Mo-K Tex pf Monsanto OE Mont Ward .

Ht: 1

Brewster Aero . Cities Service

NORTHERN STATES DECLARES DIVIDEND

CHICAGO, Dec. 31 (U. P.).—Directors of Northern States Power Co. (Wisconsin) have declared a dividend of $40.25 a share on the preferred stock for the period from March 1, 1933, to Nov, 30, 1938, payable not later than Jan. 10 0 stockholders of record Dec. 28. The board also authorized a dis-

1, (bursement of $1.41% on the issue

for the quarter ending Feb. 28, 1939, payable March 1 to stockholders of record Feb. 18. ‘Declaration of these dividends was made possible by a plan of recapitalization which was approved by stockholders Dec. 19.

FOOD PRICES (Reprinted from Yesterday's Late Edition) CHICAGO, Dec. 30 (U, P.). — Apples— Michigan Mackintosh. bu., $1.50a1.75 Sweet, Potatoes—Tennessee, ™ ham Ls Oc@$l. Carrots — Illinois, bu., 25@50c. Spinach—Texas, bu., ae Shiliflower. California, crates, $1. Lalz fornia, hampers, [email protected] igan, square crates, 00a 25. Onion Jar ket (50-1b. sacks)—Iowa Yellows, a Whites Idaho Sweet Spanish, $1.05; Idaho ites,

NSURANCE

DEALERS MUTUAL

[email protected]. -

INLAND MARINE

Inc.

| Twin Coach

4|Ulen_& Co ....

i Woolworth

%| rose sharply in the week ended Dec. :: |28, regaining almost 20 per cent. of ithe total lost in the preceding pe-

DOW-JONES STOCK AVERAGES 30 INDUSTRIALS Yesterday eesssesssesescenees 154.36 0.74 Week Ago $0000000000000000 00 151.38 .—0.01

cess Holiday 938.95. High, 1937, 194.40; low, 113.64, 20 RAILROADS 33.60 0.40 32.02 +4-0.89

Yesterday .. Week AZO cciveecvccsccsosoce Month AZO ccicosovscnessssse 20.23 =0,10 Year AZo ...cciceuanes Holiday High, 1938, 33.60; low, 19.00. High, 1937, 64.46; low, 28.91.

15 UTILITIES

seseessegessessce

22.73 40.07 22.04 40.04

Yesterday Week ARO ...c..o000000000000 Month AZO ...eccasevssice.. 21.83 —0.10 Year Ago Holiday High, 1938, 25.19; low, 15.14. High, 1937, 27.54; low, 19.05,

sis0ssesr sss tens

Net Last Change 39 + Wa % + %

High Low Mullins pf ..cc0 39 39 Murray p 1% 7% No 25% 1%

NCh & St L... a5 Nat on . Nat Biscuit ...

Nat i

Nat Lead . . Na t Pwr&Lt i. Nat, Steel ...... Y Central ... NYCOSIL NYC Omnibus . EH NYNH&H

seen cess esse ceee

Otis Elev .... Otis Steel Owens °hil Glass

G&El 2 29Y, | Pac West oll ve 11% | Packard ......

Pan Am Airways Penn RR 24

Pere. Mat pr pf. Phil Mor ris o

FIFE HE A

+++: 1 +]

v 0. Reyn Tob B .. Richfield Oil .

i Safewav ....... Sears Roe .... Servel Inc

. .

DH HEE

| ++1

Jiu

Swift Foti ees

Texas Corp ... 47% Tex Ci Prtar 5% vo 33 . 131% 101 52% 41 267 « 10%

bin

X Tra 20th Cent Fox.

4, Un Pacific ... Un Aircraft © United Corp ... Un Eng & P

Ir;

681% 3%

: ee 8a, 3Ya —W— 11% 15 6Ys

oo 90%, «31% eee 10% cov 30 . 1% oo 4% . 50%

[+++ +]

11%

[+++] +:

++:

Yellow Tr - Young Sheet .

EXCESS RESERVES INCREASE SHARPLY

WASHINGTON, Dec. 31 (U, P) — Excess and required reserves of Federal Reserve Member Banks

1934 . 54%

19% 54

riod, the weekly condition statement to the system has disclosed. Increased gold stocks and reductions in Treasury deposits and monetary circulation were the principal factors in the expansion of member bank balances.

*|but an advance of 25.1 per cent

Actual reserves, which fell last week -$562,000,000, rose! $105,000,000 to a total of $8,577,000,000, while excess reserve balances recovered $90,000,000 of the :$500,000,000 lost a week ago. reaching a total of $3,070,000,000. w

FREIGHT LOADINGS DECLINE SLIGHTLY

WASHINGTON, Dec. 31 (IJ. P). Revenue freight loadings in the week ended Dec. 24 declined 31,852 cars, a less than seasonal recession, according to the report of the Association of American Railroads. Loadings for the latest week amounted to 574,462 cars, the lowest for any full week since June 25,

or 116,641 cars over the corresponding 1937 period's total of 475,821 cars, and 2.1.per cent or 11,834 cars over the 1936 week’s total of 562,~ 578 cars. - However, both the 1937 and 1936 periods included the Christmas Day holiday.

pid aS a Ed

AUTO LEADERS = MEET NEW YEAR WITH HIGH HOPE

One-Third Advance Predicted for ’39 Production; Labor Outlook Bright.

DETROIT, Dec. 31 (U. P.).—The automobile industry is swinging into the New Year in high gear, confldent of the future. Indications today are that the in-

dustry will produce between 3,250,-

000 and 3.500,000 cars and trucks during 1939. This would represent an advance of one-third over the year which comes to a close tomMOrTow. That the low ebb of business earlier this year took a heavy toll in the industry, is shown by estimates today of the total 1939 production. The oufput for this year

19317, yet greater than 1931, 1932 and 19 :

"Predict 39 Prosperity

But manufacturers, by the warm reception given new models and heartened by the consistent pace increased production | C has maintained, are almost unanimous in their prediction that 1939 will see prosperity returning to the automotive field. For the last. week of the year,

units, a normal, seasonal decline from the previous week’s production of about 89,000, but still far ahead of the 45,000 cars and trucks run off the assembly lines during the last week of 1937. Production during December was almost 405,000 units, the greatest in 18 months, Sales reports covering the first 10 days of December support the con-

it |fident statements being issued by " manufacturers,

Present Stocks Low

Stocks throughout the country are adequate to meet current selling needs, but relatively low, as compared with many former years. * Foreign trade continued to ac-

y, [count for a substantial proportion |¢ of the market for American cars

and trucks. During the year almost one vehicle out of every five was sold outside the United States. - The labor outlook for the future is held brighter than at any time during the past. two years. Labor leaders have given assurance that

»|so-called “vicious” methods of set-|a a | bling disputes and grievances have

been relegated to the past. Defeat of Gov. Frank Murphy for reelection has been interpreted as a repudiation of some tactics employed by labor organizations.

Chicago Stocks

(Reprinted from Yesterday's Late Edition) High Low 2% 5% 5

Advance Alum 2% 3%

BRIT BN 0 mo a

rrr: 50%

ceseess 267 17

Loli a %

...s000s000"

recess sss ss sesnnee

sevevsses

0 wanSi mrss

Potter CO .....

Press Stl Car ... Quaker Oats . Quaker Oats pt. iianeeaa180 Rollins Hos ‘isegesescs 2% Schwitzer gu ioe devaeee Oy Sears Roebuck . oes 14 Sivyers Steel ... So Bend Lath .. . S W Gas&E pf ceerees03Ys Stan Dredging ceoeeeeee. 13 Stan Oil Ind .......... 28a Stewart War . cease 121 Swift & Co ... Swift Intl .... Trane Co oesese 14% United Air Lines ....,. 13 Utah Radio Prod «..... Ut & In cv of Walgreen Co Wieboldt, Stores ... k Shp

oe tees snece srabtseee sesso

Ya ch Zenith Radio ..

seen

GIANNINI NAMED IN

STOCKHOLDER SUIT

LOS ANGELES, Dec. 31 (U. P.).— Amadeo 'P, Giannini has been accused of illegal financial juggling in an effort to inflate the price of Transamerica Corp. stock, according to a stockholder’s suit filed here. The Stock Exchange maneuvers cost Transamerica more than $2,000,000, the stockholder charged.

Giannini ‘and directors of the Transamerica board. It demanded an accounting of money Giannini received from Transamerica from/|Ie 1932 to 1936, inclusive, and appointment of a Pou ver ed Giannini was

f engaging NE ee ot oqapis part of the Transamekica stock of-|

fered for sale on the Stock Exchange. By this means, the suit charged, an artificial demand was created for the stock and the price was inafited

BOARD CHAIRMAN CHOSEN

AN Makes Rented nd Repaired ~~“ Quality at a Pris

of Sears, Roebuck & Co.,

will be about 2,635,000 cars and i trucks, a drop of 47 per cent “from Good:

encouraged |

trade publications estimated -today an output of approximately 77,000 c

Close:

4 | turkeys, 1 's | 22¢c each ful

28¢. 8

The suit was filled in Superior |3¥ Court by Rose Breakstone against|De

the stock and the price was inflated |

NEW YORK, Dec. 31 (U. P.).— General Robert E. Wood, President ;

Hog Prices

Remain Firm |

Local hog prices today for all weights held to yesterday’s rates, according to the Bureau of : cultural Economics. Top on 160-170-pound averages remained at $8.05. Estimated receipts for hogs were 1500; cattle, 250; calves, 25, and sheep, 300.

(Reprinted from Tosterdas’s Late Edition) Dec, Top" Reots.| Dec, ° "Top Reots. 21 8 9.95 4981| 27 ....$ 55 8049

2% see eens 23 ... 815 ‘8.18 158 5488

| 98] 28 .... 24 ... 815 2000, 30 eves 8.05

‘Packing Sows od— $ 6.60- 6.80 8. %- 6.70 6.15- 6.50

Barrows und Gilts Good and

) ane gs 6.70- 7.10 G8 £0. $758" 1.18 CATTLE a 520) ga ue All | weights 75h 80- 000 $10.15-12.35) Gd bE 875: 7.80

- um. 300 11 1.15 2513. af ot. com 5.25- 6. 25 1300. 11:73-13.001 a wo isulen ~ 900. _ 9.25-11. 2 She Choice. $11.80-12. 0 3 0-14 peat 13: .00-10.50' 1 and oe

oia1a: 200] Cu s 0. 500 | (RecEibts. 667) 250-400 .. .$8.00Good .... 7.00Cholce— +5 in 3 780- 00 $10.35-11,50; Common and o 750: 90 900. 8.75-10.251 Go, stories Ee a30- 508 900 -8.00- E.75| 800-1300 S50 818 om!

550- 900

7.15- 9.75 ni .00- 9.76 Common Plain 750-1100 6. 15- 8.00} Heifers

Common

ow! - 8 7 00- 17.5 He .75- 7.00 a 2pd Cholce— 8:50: 6:75] 330-180 ee Se 8.00 & a 4.50- 5.50) medium 5.00- 7.00

. SHEEP AND LAMBS (Receipts, 1213 Zamps 7.00- 8.50 25, ium .. - % Sa Men 3 5.15- 7.00 Ewes

nd choice rises vesesnel 3.50- 4.50 Good an and medpum ese00se0n 3.00- 3.60

OTHER LIVESTOCK

INCINNATI, Dec. 30 (U. P.).—Hogs— RE 3000, including 836 direct; : Kh Union ea othe ONE AB sso! bul bulk A “packing sows, $5.15@

Choice ..$ 9.00Good .... 8.50- 9

Cattle_Recel ts, 450; calves, 250; ma r= ket, fairly act ye. enerally fully steady; few medium to grade medium .weignt steers, $8. 3509: siricdt uy good scarce; plain and | neg [email protected]; part load around an to Fhoice fed heifers, $9.75; ; low cutters and 5 Ss: moss Sausage bulls offered on y at : s strong to 50 cents higher; top, $12. Sheep—Receipts, 200; none direct; mar. ket, steady on hight supply: good and choice Unitked in ambs quo rom $9.50 @?9.75 ossibly above; common and Hedium, ph slaughter ewes mainly $2@s.

FT. WAYNE, Dec. wu Hogs arket, 1 cents loger: 140-160 © $ 3 Yoor150" > 0-200 Ibs. $7.70; 200 $7. 40; 240-260 10; 280-300 1bs., $7.55: $5 120 iti 36.85; bs., hg” $6.25; ‘stags, $5; calves, $11.50; WL

LAFAYETTE, market 10 cents @8; 190-220 aos [email protected]; $7.50 down; po [email protected]; lambs, $8.5

CHICAGO PRODUCE

(Reprinted from Yesterday's Late Edition)

Butter—Market, weak; receipts, 841,42 ross 1bs.; extra firsts (90-91% score), B59: extras 92 score), 26c; firsts, 25Y2c; seconds, specials (93 score) + stand 6c; centralized -25¢; “(89 - - score),

6488

Dee, 30 (U. x lower; 160-190 Ten. Hog 3 [email protected]; 0200360 1bs., $6.70@7; pigs. 38 bo down; calves,

242; dards,

s—Ma rket, steady; recei ; fresh raded firsts, cars the, 24'%c, extra firsts, less 26%2c; checks No. No. 2," cuffent receipts, 23! Vac: HE No. 1, No. 2, 19¢; refrigerated extras, 2214¢; refrigerated standards, 22c; retngeraiod firsts, 21%c.

Poultry—Market, hens and heavy springs, firm; ducks and geese, easy; reveipts, 1 car, 48 trucks; ducks, 12@14%c; eese, 13@14c’' hens, : 18@20¢; Leghorn ens, 3 SPHINg chickens, 17@20¢c; roosters, 11%2@12%c; broilers, 15@16¢; = turkeys. 17@26c.

Potatoes—Supplies Jooderate; Prasticaily no early trad joge 9 account weather: marke IES ini late Thursday market was steady under fair demand; quotations based on late sales Thursday; Idaho Russet Burbanks, [email protected]; Colorado Red McClures (cotton sacks), $1.80; North Dakota Cobblers, $1.35 @1.40; Minnesota Cobblers, $1.35. Arrivals, 37; on track, 226; shipments,

LOCAL PRODUCE

(Reprinted from Yesterdav’s Late Edition)

Heavy breed broilers, 412 Ds. and over, 14c; héns under 4Y2 lbs. ghorn hens, 8c; Barred and White Rock springers, 1'%2 lbs. and over, 13c; Soloed sprin ers, 1% lbs and up, 12c; ers, 1% Ibs and over, Sie ih Dr hens, 1ic; spring chickens, 2 lbs. and over, 13c: old Fosters, 9c. Whit : ducks, 5 1bs. and over, 1c; white ducks under 5 lbs., 9c; colored ducks, bs. and over, 9c; colored ducks, under 5 bs.. 7c; gd 9% lbs. 9¢; young tom bs. and over, 19¢; young hen

turkeys, 9 Ibs. and over, 20c: crooked

3 | breast turkeys, 11c; old tom turkeys, 140;

No. 2 turkeys, 13c No. 1 tly fresh country run eggs. 1 case must weigh 54 lbs. and eduction of 15 cents for each ler 54 lbs. will be made; pul-

Butter—No. 1, 30@30)4c; No. 2. 27%@ Butterfat—No. 1, 22c: No. 2, 20C.

stric

over; a nat d full case und

, |1et eags, l4c.

3 ; NICKEL CO. TO STAY

WITH N. Y. MART

NEW YORK, Dec. 31 (U. P.)—

72! Directors of the International Nickel

Co. of Canada, Inc. determined at a meeting today to continue listing of the company’s shares on the

’4|New York Stock Exchange, accord-

ing to an announcement by Robert C. Stanley, chairman and president. The decision sets at rest rumors that the company would seek to delist its shares from the Stock

4 | Exchange because of the fact that

they are subject to regulations of

3 the Securities & Exchange Com-

mission although the company is incorporated in Canada. The rumors held that the company’s board disapproved of the SEC restrictions and would seek withdrawal - of the shares from listing "and registration on United States exchanges.

FOREIGN EXCHANGE NEW YORK, Dec. 31 (U. —Following are opening n noon closing oh 6 rates cn

major currenc os ble Hat on e able es an England * {ponnd) . 00% Eng. (60-d. b. rate).. —00%% Canada (dollar T) % France (franc) Italy (lire) Belgium (belga) ermany (mar oe Switzerland (franc)... Holland (

32 +: o0%ait |i +.0004 —.0001%2 + 02 -_— 0001 —.0001 jo. -—.0001

seve

(krone). ee 2073 Japan (yen) . .. :

WAGON WHEAT reg grain elevators are paving for No. 60c; other grades their : ote Cash corn, new No, 2 vellow. 86¢c. Oats, 22c

SEE FINAL EDITION OF THE TIMES FOR CLOSING STOCK QUOTATIONS

At $8.05 Top|

Med J - 8.00 - . 3.90. 7.75 8.25 500- 1050 : 7.28

|Home T &'T

GERMANY LEADS | IN WORLD STEEL

CONSUMPTION

Addition of Austria’s Mills Boosts Reich’s Output; U.S. Slips.

CLEVELAND, Dec. 31 (U. P).— The new Germany, augmented by 5402; the annexation of Austria, has displaced the United - States as the world’s leading per capita steel consumer, according to data made public by the magazine Steel. ‘The trade authority also reported a decline of almost 20 per cent in world production of steel for 1938, and disclosed that Germany, which in: 1937 produced little more than one-third as much steel as the United States, turned out more than three-quarters as much this year and lifted its pig iron output to practically the same level as that of America’s mills. ‘In its annual summary of conditions in the steel market, the magazine called attention to the growing importance of European nations, particularly Germany, in both production and consumption of steel.

World Output Declines

The publication estimated 1938 world output of steel ingots and castings at 107,523,000 gross tons against 133,616,000 in 1937, or a drop of 19.5 per cent for pig iron and ferroalloys, the estimated 1938 production was 80,802,000 gross tons, or 20.8 per cent under the 1937 figure of 102,046,000 tons. Curtailed American production accounted for most of the year’s decline, ‘according to Steel. United States mills produced 29,183,000 tons

output, contrasted with 51,526,000, or 386 per cent, in 1937. Reich Tops Russia

The magazine’ ‘pointed out that Germany’s annexation of Austria

3 |added considerably to the Reich's

position in world steel markets. In 1937 Germany held only a narrow margin over Russia as a producer, while this year its mills turned out 22,900,000 tons of steel, or 4,900,000 tons more than Russia, the world’s third largest producing nation. Austria contributed almost 600,000 tons to Germany’s 1938 output, al-

though its steel mills Were not|

turned over to the Reich until March 15. point of consumption, Gerny on a per capita’ basis led the rld with an average steel use of 708 pounds per person. The United States, which last year ranked first with 844 pounds per capita, dropped to third place with a 470-pound average, while Great Britain ranked second with 496 pounds. Japan, in spite of her military operations in China, was down in seventh place among the world’s

211 pounds per person.

/IRUBBER INDUSTRY EXPECTS GOOD: YEAR

: Inventory Losses Small at Close of ’38, Says Viles.

NEW YORK, Dec. 31 (U. P). — The rubber manufacturing industry has completed a “fair” year and outlook for the new year is encouraging, according to A. L. Viles, president, the Rubber Manufacturers Association, Inc. “For the coming year,” he stated, “the outlook for the rubber manufacturing industry is encouraging, if the current forecasts of some improvement in general business conditions prove to be justified. “In volume of production, the rubber industry, like most other, fared less well in 1938 than in the previous year. The reduced rate of activity naturally tended to cre-

slate higher costs, and the smaller

volume of total business available intensified competition.” There will be, however, no necessity to write off any great inventory losses, was the case at the close of 1937, he added; and “preliminary statements indicate that the earnings of the industry for 1938 are fair, when consideration is taken of the generally unfavorable business conditions that prevailed.”

URGES HIGH STANDARDS

NEW YORK, Dec. 31 (U. P. )— Adoption and ‘maintenance of the highest possibie standards of conduct in all dealings should be foremost in the' minds of American businessmen, according to Charles R. Hook, retiring president and the new board chairman of the National Association of Manufacturers. “With the coming of a new year, it is well for all of us to renew our pledge for American industry to adopt and maintain high ethical standards in all its operations,” Mr. Hook stated in a letter to members of the Association.

LOCAL ISSUES

The following quotations do not represent actual bids or offerings, but merely * dicate the approximate market level tased cn buy'ng and selling quotations of recent transactions.

tocks 3 . 8 Bid

Belt R R Stock Yds com... 50% Stock Yds pid... gt Cent Td Power : T&T : a a []

Ask

53% 5314 " Woah 7% oid’. h Hook br 8 ANC COM. .evvivnoes Hh den Sve o 6% Pe ;Ind giro El Ctrl Lis

ES pls Fai *Indpls Hinds Lincoln Nat. Life § Jud

“e

aa.

AI222E/JIE BW: 2:

Ee B Service 3% oid cave ress b Service Co of Ind 1% Bub Service 6

T Haute Title ip Co com.... Van Camp Milk C ceises Van Camp Milk & COM.o.cense

EEE os oF a

Amer Loan 58 46...... 95 Citizens Ind Tel 4 Crabbe Rey Lior 5 ‘Ss 432. ‘ede 108 w 8% 4 ain 65 .

Muncie. Water Wks | Noblesville H & & P 6% Ohio Tel Co € 5 sine

FE a Track Term Corp 5%.

of steel, or 27.1 per cent of world

|rosch, dean of America’s orchestra

steel consumers with an average of | 10

TONIGHT 9:00—~NBC Symphony, WIRE. 11:00—Carol Concert, WFBM. TOMORROW . 12: 330~Warlds Fair Salute, CBS-

1:00—Magic Key, WIRE. 2:00—New York Philharmonie, WFBM.

§5:00—Silver Theater, WFBM./ 6:00—Jack Benny, WIRE.

7:00~Charlie McCarthy, we re

/ 8:00=Détroit Symphony, 9:00—Robert ‘Benthley, Ww

"GOOD MUSIC"

By James Thrasher

The New York World's. Fair “Sa- |} lute of Nations” radio series, which

looks like one of the biggest publicity buildups in history, promises to be of special interest to the music= loving public. For tomorrow's initial ‘broadcast, available for 30 minutes on all three major networks at 12:30 p. m., Jan Sibelius will make one of his infrequent appearances before the microphone. The Finnish master, generally recognized as the foremost living composer of symphonies, will conduct the Helsinki Symphony Orchestra, probably in one of his own compositions. There also will be national songs by the Finlandia Male Chorus and festival songs by a chilren’s chorus. President Kallio and the Finnish Minister of Foreign Af-/ fairs will speak, All the larger European countries, with the TOL. of Germany and Spain, as well as Canada, Brazil and Japan, will- be heard on the weekly broadcast series, which ends April 23. ® o 2

The NBC-WIRE “Magic Key” program will salute the New Year with a special two-hour broadcast tomorrow, beginning at the ‘regular hour of 1. p. m. Participants include Kirsten Flagstad and Ezio Pinza, . from the Metropolitan Opera; Walter Hampden and Eva Le Gallienne, of the Broadway stagé;. Dr. Walter Dam-

conductors; Olsen sad Johnson, the ‘ ” 8

(The Indianapolis Times is not res

1400 (NBC Net.)

Rhythms ews Swingolagy

(CRS Net.) Scholarships » » » ”»

L. Noble's Or, Safety Unannounced

anneal

a! J aD ARen,

Outside ~ it C. of OC. aces.

oe oe’ ®0 oe

£358 2838

News A TS eodman’s Or. Jos, EB. Bro wn

Avalon Time Pob. Welfare Air Newspaper Tommy Riggs

Fred ‘Waring

as 3&8

Jonpny, Prof. Quis

alah adel ov 0 vo oo

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