Indianapolis Times, Indianapolis, Marion County, 7 February 1939 — Page 17

}

“LOSSES EXTEND

T0 OVER POINT IN STOCK LIST

Prices Turn Lower After Irregularity in Early i rading. NEW YORK, Feb. 7 (U. P)— Prices turned lower on the Stock

Market today after early itregue larity.

Losses extending to more than a |aiis

point were recorded in many sections. Trading picked up slightly. Early in the fourth hour, U. S. Steel was at 58%, off 1%; U. S. Rubber 433%, off 1%; Bethlehem Steel 67%, off 1%; Chrysler 73%, off 1%; Santa Fe 34%, off 1%; and National Distillers 25%, off 1%. Oils, utilities and mercantile shares were down fractionally. Coppers gave up small fractions.

e. Bonds edged off moderately in|! quiet dealings on the New York|p

Stock Exchange after early uncertainty. In the domestic corporate section rails generally were fractionally lower. Utilities and industrials were irregularly lower, U. 8S. Government obligations turned reactionary after early ‘steadiness. Losses ranging to 5-32

Poin were noted. Foreign funds ~ he

ld narrowly around previous closing levels in quiet dealings.

Curb Stocks Lower

Curb stocks turned lower after early irregularity. Losses ranged to more than a point. Senior utility issues had losses of a point and more while scattered common stocks were fractionally higher. National Power & Light preferred and Electric Bond & Share $5 preferred were off a point each, and Electric Bond & Share $6 preferred lost 1% points. Niagara Hudson - Power, American Gas & Electric and American Superpower were firm.’ Lockheed Aircraft lost % and Bell Aircraft % point in an earlier aviation section. Ford of Canada A and Babcock & Wilcox were firm but other active industrials had losses extending to 3% point in American Cyanamid B. Mining shares were fractionally lower and oil stocks dull. 8 8 ®

Today's Business At a Glance

By United Press GENERAL BUSINESS Oil & Gas Journal reports week ended Feb. 4 crude oil production averaged 3,436,154 bbls. daily, up 184,375 from preceding week. ,

CORPORATION NEWS

American Brake Shoe & Foundry].

Co., 1938 net income?$1,080,719 equal to $1.03 a common share vs. $3.410,798 or $4.01 in 1937. | : Commercial Credit Co. 1938 consolidated net income, $8,997,363, equal to $4.60 a common share vs. $13,593,119 or $7.09 in’1937. M. H. Fishman Co. Inc., net profit $147,219 vs. $191,500 in 1937. ‘New Jersey Power & Light Co. 1938 net income $1,066,123 vs. $1,372,541 in 1937. Railway & Light Securities Co. Jan. 31 net asset value of common equal to $17.64 a share vs. $18.56 previous month and $12.22 year ago. Union Premier Food Stores, Inc. and wholly-owned subsidiaries 1938 preliminary net profit, $611.842 vs. $460,441 in 1937. Virginia Public Service Co. and subsidiaries, 1938 preliminary net dncome, $683,078 vs. $9290,382 in 1937. Wahl Co. 1938 consolidated net

| loss $77,475 vs. net profit, $47,945 in

1937. Company has changed from calender year to fiscal year ending Feb. 28, the new year to start March 1, 1939. : Walgren Co. January sales, $5,646,625 vs.. $5,506,940 year-ago, up 2% per cent; f Jan, 31 sales $24,771,771 vs. $34,337,507 in like 1938 period, up 1.8 per cent. ;

I Western Auto Supply Co. (Mis-

souri) January sales, $2,361,000 vs.

$1,907,000 year ago, up 23.8 per cent. 2

RAILROAD REPORTS

Atchison, Topeka & Santa Fe Ry. Co. week ended Feb. 4 carloadings 17,710 vs. 18,379 previous week and 18,093 year ago. Baltimore & Ohio R. R. Co. week ended Feb. 4 carloadings 24,770 vs. 25,135 previous week and 23,493 year

ago; January carloadings 105,567 vs. 3

109,406 previous month and 95,86 year ago.! Chesapeake & Ohio Ry. Co. week ended ‘Feb. 4 carloadings 18,374 vs. 21,223 previous week and 20,375 year ago.

Chicago & North Western Ry. Co.|am cit pr,

week ended Feb. 4 carloadings 12,259 vs. 12,665 previous week and 12,939 year ago. New York, Chicago & St. Louis R. R. Co. week ended Feb. 4 car-

G loadings 4473. vs. 4574 previous week |Bell A and 3857 year ago. "Pere Marquette Ry. Co., week end-|C

ed Feb. 4, carloadings, 4690 vs. 4654 previous week and 4177 year ago.

DIVIDENDS Collins) & Aikman Corp. 25 cents on common payable March 1 record

Feb. 17 vs. like payment Dec. 1. Electrolux Corp., regular quarterly

40 cents payable March 15 record E mbl

Feb. 15. |

M. H. Fishman Co. Inc. regular Look

quarterly 15 cents on common payable March 1 record Feb. 15.

FOREIGN EXCHANGE

(U. P.).—PFollowing on major curren-

et : ble Rates Change (pound). 44.68% +.00% g ( 0g b, I.). 48 . +.00 ance Je 0264 15-16--.0000° 3-16 ti a 405263 0000%

NEW Feb. 7 are noon | cable Tates

116907 {mark 4015 ane any (tr. Yi va Switzer (franc). . Holland, (guilder). . Sweden ( Foha) ele 29 0! Soin a krone) « 3085%

.0001 T0001

SEE FINAL EDITION | OF THE TIMES FOR LATE NEWS AND CLOSING STOCK QUOTATIONS

OTHER

r months ended|Ch N W gen

100

1930 ‘193 932 1933

Hoosier Building Activity

1928-1936=0

1934

Indiana University Bureau of Business Research

1935" 1936 1937 1938

Net Last Change Ya 1s Ya

Air ReduC’ ceess

Atlas Pdr Atlas Tack ...

H+ |:

3ald Loco ct.... 3alt & Ohio ... jarber Asphalt. d Hem

5 18%, Borg Warner .. 27% Burroughs cates J Bush T B pf ct 10% ; —C

SR HEE 0 te - -

a aes

DHE

Deere & C0 +o. 19 Dev & R A.... 28 Dist Se pf ww. 80% Dome Mines.... 317% Douglas Air ... 69% Dunhill ....c.0. 15% Du Pont ¢eeee..148 a Elec Auto L ... 831%2 31% Elec P & L ... 1172 11% El Paso N G .. 31 31 Eng Pub S 10? Equit Bldg .... 1% Ex<cell-0 ¢s00se 21 fa Fed MOt o...000 47% Firestone T ... 22% Pirgt N Strs ... 47% 47% Flintkote «¢..... 27% 27% —C Gen Am Tr .... 55% Gen Bronze ... 15% Gen Electric .. 4133 Gen Foods .... 39% Gen G&E A .. 1% Gen Motors ««s 47% Gimbel Bros .. 113 Goodrich 21 t North- pf... 3% t Nor Ore ... 14% Greyhound Cp. 18% tf Harb.Walk ... 28 . 28 28 Househd F pf..106% 106% n Oil ... J 300 Hudson Motor. 1% TY Hup Motor .... 13% 1% Tn . 16% 163 141

piration_ Cop 142 erlake Ir .. 123 12% Agric 244

47% 22%

—

1 Central ....

; Nickel... 53 = 53 Nickel pf. 136% 138% Shoe ...... 331s 3314 ves 9a 91 3. 2 3

eT ... T&T For. . N. Y. Bonds BOND PRICE INDEXES 20 2 20 Ind. Rails Util Yesterday .... 86.3 59.2 100.5 Week ago. ..,, 86.0 . 58.4 29.8 Month ago .... 86.6 61.3 99.7 Year ago 64.0 91.4 Two years ago 94.9 100.4 105.4 1939 high .... 86.7 61.8 100.5 1939 low ..... 85.6 56.9 99.1 1938 high ..,. 81.8 90.0 99.7 1938 ow ..c.. 74.9 47.9 81.3 1937 high .... 95.0 101.2 106.0 1937 low ..... 80.1 69.3 92.3 1936 100.4 106.2 100.2 1936 k 84.7 103.5 93.3 (Copyright, 1939, Standard Statistics Co.)

TEE EEEL

82.0 81.4 82.5 %8.3 100.2 82.7 80.6

50.7 100.7 81.1

U. S. GOVERNMENT BONDS Treasury Bonds High 1943-40 June ....104.30 34s, 1945-43 .........109.31 3Vas 1946-44 0.3 110.3

218 1953-49 2%s 1963-58

Last

104.30 109.31 110.3

103.2 103.12

3%as

102.10

23 is 104.11

2Yas DOMESTIC BONDS High 58 49 ..0600 65 S A 95 cceees 20%

Last 65

20 12% 15% 91 57 86% 105% 69

Alleg Cor B&O ref

66 64% 118

Warner Bros 6s 39 Young S&T 4s 6

FOREIGN BONDS High

943%,

Australia 58 57 ceeeeees tria 7s 57 eee 147%

Austria 7s 57 ....s

Curb Stocks

Net High Low Last Change 3 33." Le 2 23Y; 1 18% 27% 3%

8 Brewster Aero. 10% Carier Corp ... 17% St E pf .. Cent St El 7 pf 13 Cities Serv .... Cities Serv p?.. 49 Col G&E cv pf. Lal o&G .... 0!

oi a

WN 4 MIND

Am L&P ... Pac GE 6 pf .. pac GE 5% pf.. 20% Pennroad Sunray Oil ... Taggart Cp .... Un Gas Corp . 3 Un Gas Cp pf. 87Y Un Lt&Pwr A. 23%, Un Lt&Pwr B. 29 Wright Harg .. 8%

sess sese

Chicago Stocks

Bastian-Bless Bendix Aviat

se0Bg0en en scssgesacs

18 182 4% NAMED INSURANCE AGENT J. W. Ebaugh has been appointed district agent for the Occidental Life Insurance Co. of Los Angeles,

Swi ‘Wisc Bk Shrs

Cal, it was announced today. He will maintain offices |

Ys | Snider Pkg ...

NEW YORK STOCKS

By United Press

DOW-JONES STOCK AVERAGES

30 INDUSTRIALS -—0.04 +2.20 40.29 . 125.52 44.18 High, 1939, 154.85; 36.42. High, 1938, 158.41; Low. 98.95. 20 RAILROADS Yesterday .c.oeseccecscccess 80.25 Week Ago .. . Month Ago . « 382.46 Year Ago :.... 27.88 High, 1938, 84.33; Loow, 27.08. High, 1938, 33.98; Low, 19.00. 15 UTILITIES Yesterday .. Week Ago .. Month Ago . Year ARO «.oqeeccencee High,

-0.13 +0.37 20.04 +0.78

$90 cetsessone +0.40 1939, 25.52; Low, 22.30. High, 1938, 25.19; Low, 15.14.

. Net High Low Last Change eee... 10% 10% - 3 lf Kennecott '..... 38Ys 38% Keystone Stl .. 11s 11% Kresge SS ..... 22% 221s Kroger G&B .. 24's 24% ‘ —]

Intertype

." Ine Lone Star

Lorillard ..... 327%. 227%

Mee Martin Gl ..... 3372 33% Mathieson pf ..172 172 172 McCall Corp .. 12% 12% McGraw El .... 20%s 20% Mo-K Tex pf .. 7% Va Mohawk Cp .... 15% 15% Mont Ward .... 49% 49

Nash Kelv .....

8 - 3 | Nat Biscuit .... 2

Nat Cash” Reg.. 2 Nat Distillers ..

7 No Amer pf ... 85% No Am Avn «.. 18% —C Ohio oil sescse 9 J G & El .. 20% 147

P Pac T & T pf.147 kard » ?

08dI0 ct.000000 em-Rand .... 0 MOt cecese eyn Tob ..... 5

Reyn Tob B... Richfield Oil ..

Servel Inc eo.e.

1+]

. .

Bonds |S

83.0|U

. . ° . °e

Superior Oil...

1211: ++

Texas Cirp .... 44% Tex Gulf Prod. Pa, T... 83

| sd

. . .

Transamerica. . Twin Cy R T

n Carbon ... United Corp .. United cp pf.. Un Gas Tmp... U S Gypsum . U S Realty ....

FHL + HL

/8 U S Rubber... 4 U S Smelt pf.. 64 64 U 8 Sttel .... 59% 59% . i Vasco Sales.... 3 3 Waukesha Mot. 21% 211} W Pa El 6 pf.. 9 4 Westing EI ....1113;4 1113 Willys Overlnd. 2%

2% —Y . 18%, . 45% Zia

Yellow Tr

ves 18% Young Sheet ..

45%

Zonite . 3%

|ture . independently firm.

High is [March (old).$ 6590 $

(NHEAT PRICES

SAG FRACTIONS “ATCHICAGOPIT

{Corn Also Drops: Oats ‘Are

Slightly Off; Demand Is Light,

* CHICAGO, Feb. 7 (U. P.) —~Wheat prices sagged fractionally on the Chicago Board of Trade today.

was off % to 3% cent, corn off 1% to, 1 cent, and oats 14 cent lower. Scattered offerings uncovered light demand, despite a good inquiry in the cash wheat market and a reported sale of two more cargoes of American wheat to Russia.

The Chicago Board of Trade will be closed Monday, Feb. 13, in celebration of Lincoln’s birthday, according to an announcement today.

Disappointing action at Liverpool was partly responsible for easiness in the local market. Prices in the English market closed %4 cent higher to % cent lower, with the July fuSmall United Kingdom demand and lower Australian offers depressed the

nearby futures. Winnipeg declined % cent in the | 55 100

first hour. Export business was flat, except for. the American sale to Russia. E There was good buying in the lo=

3% |cal cash wheat market by outside {millers, and sales by shippers were placed around 60,000 bushels. %| The weather map forecast a cold |c .|lwave for most of the grain belt,

with snow indicated except: in Kansas. Corn prices were depressed by the

+laction of wheat and lack of export

demand. untry offerings continued light. Local receipts were estimated at 42.cars. Lard futures again hit new lows influenced by a weak hog market.

CHICAGO GRAIN

Opening prices today on the Chicago Board of Trade, as reporied by Thomson & McKinnon, were: May July Sept.

Wheat— [email protected]% [email protected]% $.60%

Corn 14 @.49% 50% S116

Oats— 281%

(a 451%

0cccccosed ecsebesseas ®

00800000000

WAGON WHEAT ony grain elevators are paying for No. 1 red,

LIVERPOOL WHEAT Low ° Glose _ close 65 § .6513 $ .65% : 61% 61% 651 62%; 64Ys

March (new). .61% May (old)... .657% May (new).. .62% July 64% 63%

LOCAL PRODUCE

Heavy breed broilers, 4% lbs. and over, 13c; hens under 4! 1bs., 13cs Le hens, 8c; Barred and White Rock springers, 1%2 lbs. and over, 13c; colored springers, 12 lbs. and up, 12¢; Leghorn broilers, 1% 1bs. and over, lc; heavy breed hens, Ae; spring chickens, 2 lbs. and over, 13c; old roosters, 9c aA at. sos & No. 1 strictly fresh coufitry= eges, 12c; (each full case must weigh 54 Ilbs., net; a net deduction of 15¢ for each full case under 54 lbs. will be made.) : utter—No. 1, 28@28%c; No. 2, 25@26c¢; butterfat, No. 1, 23¢; No. 2, 21c. (Prices quoted by Wadley Co.)

U. S. STATEMENT

WASHINGTON, Feb. 7 (U. P.) —Government expenses and receipts for the current fiscal year through Feb. 4, compared

with a year ago: s Year, Last Year. Expenses $5,396,436,954.85 $4,427,261,494.11 Receipts 3,346,223,300.03 3,614,382,517.26 Gross Def. 2,050,213, 812,878,976.85 Net Deficit 2,024,5 63,225,426. Cash . 3.07

y 0

243,651,614.10 INDIANAPOLIS CLEARING HOUSE

Customs - 191,216.642.08

Clearings e.cessee. 2,609,000 Debits 3.991.000

3700

FACT

STRIKES FOLLOW THE SEASONS

we 5 KKRKR — WERRR we, KRRRRER) KKR]

Science Service=Pictorial Statistics, Ine. 2-7

(JAN. 1927 DEC. 1936)

No. 8

8 #8 =

Taxpayers should note

exemption is required to be

might be entitled as the head of Joint personal exemption for that

titled to claim $200 credit for the of $400. The same rule applies to

Your Federal Income Tax

Credit for Dependents and Exemptions Must Be Prorated If Status Changes.

Exemptions Allowed Married Couples of 1938 the credit for dependents as well as the personal

status occurs during the taxable year, and that these credits are allowable not only for the purpose of com-

puting the normal tax but also the surtax. A fractional

part of a month is to be disregarded unless it amounts to more than half a month, in which case it is considered a month. For example, a single man and a single woman who were married on July 20, 1938, and were living together on the last day of the taxable year, may file a joint return. If they file their return or returns on the basis of the calendar year, they would be entitled to a personal exemption of $2208.34, which is seven-twelfths of $1000 for the husband while single, plus seven-twelfths of $1000 - for the wife while single, plus five-twelfths of $2500 for the during which they were married. If separate returns are filed, each . is entitled‘ to a personal exemption of $1104.17, which is seventwelfths of $1000, plus one-half of five-twelfths of $2500. If during the year 1938 the husband or the wife had the status of the head of a family prior to their marriage, he or she would be entitled to his or her prorata share of the personal exemption of #32500 allowed the head of a family for the period prior to their marriage instead of merely that allowed a single person. However, for the period of their marriage any exemption to which either a family would be merged in the

tion allowable in the case of a couple who were married and living together during the entire year may not exceed $2500. If a child under 18 years of age and dependent on the parent for support reaches the age of 18 years during the taxable year, the credit of $400 for a dependent is required to be prorated in the same manner as the personal exemption. For example, should the child’s eighteenth birthday fall on June 30, the parent would be en-

8 8 2

that under the revenue Act

prorated where a change of

period

period. The joint personal exemp-

dependent child—that is, one-half

At the end of the first hour wheat |

CHICAGO LIVESTOCK

3c; other grades on their merits. |} Cash corn, new No. 2 yellow, 44c. Oats, 25¢c. |

v. 186.25; cutter cows weak to 15c lower; beef

Hogs Dec ine 10-25 Cents; t Vealers Firm

Hogs at Indianapolis declined 10 to 256 cents in an irregular market today, the top for 200 to 210-pound-ers falling to $8.39, according to the Bureau of Agricultural Economics. Weights from 160 to 300 pounds lost 10 to 20 cents, while most light er weights were 25 cents lower. Heavy hogs over 300 pounds and packing sows held steady. Vealers held steady with yesterday’s 50-cent decline at a top of $12. i ; Lamb prices strengthened slightly, a top of $9 being paid for a deck of good 91-pound Texas lambs, with other lower grades at $8.50 to $8.75.

Jan. To! Rects|Feb. Top Rects. st ve8 8.50 BAO] 8 b...8 B50 2050 e|

135 1... 825 6m 6 .... 840 5 310 sa 2001 700 830 438 Barrows and Gilts > Packing Sows 00d a — hoice— 275- 300.8 7.10- 7.35 160” 180.8 7.25- 8.25| 340 425." 6.75- 7.15 160- 180." £.00- 8.30) 435. 550. 50- 6.90 200. 230. 820- 820) 215 860. 6.25- 6.90 250- 290. Choice— 290- 330. 6.75- 17.50 290- 350 dium. . 6.35- 7.35

CATTLE (Receipts, 2113)

wanes Ce— 2: Ne a Cho 900.$10.50-11.75| G'd wt 900-1100. 11.00-12.50| Medium.. 00-18%, 11.00-12.75 od— 4 750- 900. 11.25-12.75 . 8.75-10.75 8.75-11.00 9.00-11.25

7.75- 9.00 8.25- 9.25

2in-— 900. 7.00- 8.25 ‘Heifers Choice— 750- 900.8 9.75-11.00f © G0 900. 8:50 9.75] | Stocker Cattle Medium— Good Steers 550- 900. 7,50- 8.50/"500 500 ..$ 7.75 9.00 200-1300..." 7.50- 8.75

edium— . 500-1050. 7.00- 7.75 6.25- 7.25

Common. ifers

Hel Good and Choice— 550- 760 .$7.00- 8.00

'5.50= 9.00 alves . (Receipts, 397) oice— -4 $ 8.00- 9.00

750-

ommon— 550- 900. 6.50- 7.50 Cows Good ....$ 6.75=

25 Medium . 6.00- 6.75 Common. 5.50- 6.00

Low cutter & cutter. 4.25- 5.50! Common and medium.. 5.00- 7.00

SHEEP AND LAMBS (Receipts, 1436) Lambs

Good and Good u d choice. .$ 8.90- 0.00 Medium. $ 7.50- 8.75 Common.. 6.00- 7.25

Ewes Good and choice....... ecessss.$ 3.50 4.50 Common and medium...eeeoe.. 2.00= 3:50

Hogz—RecelDis: 14,000; market, fairly active; weights 210 lbs. down mostly 10@20c lower than Monday's : steady to 10c off; top, choice 160-220 1bs., .90; -270 1bs., [email protected]; 280-325 1Ibs., [email protected]; good 400-550-1b. packing sows, [email protected]; few lighter weights, $7. Cattle — Receipts, 6000; calves, 1000; yearlings and light steers steady to strong; weighty bullocks after losing as much as 50c Monday dull at Monday's decline; shiper demand narrow; mostly $8.50@11 maret; little above $11.50, although several loads held well above $12: yearlings and yearling-type light cattle both steers and eifers bringing a premium over weighty inds of comparable grade; best heifers, $10.10 early; several loads, $9.25 down to $8, with very common light kinds down to

cows weak at $6 up to $7 and better; cutters $5.50 down to $4.25; weighty sausage bulls to $7; practical top, $6.85; vealers $12 down, mostly $11.50 down, weak. Sheep—Receipts, 6000; late ' Monday fat lambs uneven, Jnosuly 15@25¢c lower; top, $9.25; Dacker top, $9.10; bulk under 94 Ibs., $8.75@9; finished 70-105-1b. lambs, [email protected]; sheep, steady; ¥en slaughter ewes, $5; today’s trade indications steady on fat lambs; good to choice bid $8.75@9: best held [email protected] and above; sheep, steady; fed Wester newes, $4.85@5.

OTHER LIVESTOCK Feb. 7 (U, P.).—Hogs—Re-

evenly steady ‘Ibs Vs Tae] 50; » k. ing sows, [email protected]. 0; 90d pack. a

ttle—Receipts, 300; calves, 200; fairly active, generally steady to strong: scattered lots ligh Jearling type steers, $9.75; load, 5-1b. fed heifers, $9.85: plain to go d beef cows, $6@7; cutter grades, [email protected]; bulls scarce, quotable steady. practical top, $7.25; vealers little changed.

heep—Receipts, 250; steady on light supply, consisting largely of a sizeable of medium to good 92-1b. fed western lambs at $8.75; good and choice trucked-in native Jambs quoted from, 35.05@8,75: poy medium, : ewes mainly $2@3. a Slaughter

FT. WAYNE, Feb. (U. P.).—! to 35 cents lower: 500.2 i a

20 1bs., $8.10; - 240 lbs., $8: 160-200 lbs., $8; 280.200 520- : 260-2 : ' 280- 1bs., .20; 325-350 lbs., $7; £0 ad SG os. S50 ., $7.10, s, $6.50; , $5.25; calves, $11.50; lambs, $8.75, stage, $5.25 LAFAYETTE, Feb. 7 (U. P.).—Hogs— Market 10@20c lower; 200-320 Yo 8a 8.20,230-270 1bs., [email protected]: 270-325 1bs., §10ars0; 360-200 ste Jrsas pigs, Si ; roughs,. own. Ca ) 11.50. Lambs, [email protected]. Relves 311

LOCAL ISSUES

uotations by the IndianShare Corp. a Lins

0 Pig Tepre- § % me Pdioate jhe pSPproximate * marke} Soo 2 and se u recent transactions. DE guotations of Sto, : Auto Invest Corp _. . SL oc s com... 50! 3 Belt BR R & Stock pfd 22 98 Cent Ind Power 7% pfd 38 Home T&T Ft Wayne 7% pid.. 5 54 co 13

2 Hook Drugs "nc 10%a, & Mach 17 Gen Svc 6% Hydro-Eiect s Gas Co

SP&L s P&L €

‘64 103% 109

0, —SoTVY

s W ; pid In Nat Life Ins Co com.. Pub Serv 5%9% pid... 76% nd Pub Service 6% pfd... 84 N Ind Pub Service 7% pid... 90 Progress Laundry Co com.... Pub Service Co of Ind 7% pfd 53 Pub_Service Co of Ind 6% pfd 29% So Ind G&E 4.8% pid 95%; T Haute Title Elec Co com... 25 Camp Milk CO.i..0.0040. 6 Van Camp Milk Co com....... 10

Bonds Amer Loan 5s 46........ sseses 95 Citizens Ind Tel 41s 6 102 Crabbe Reynolds-Taylor 8s 42 92 Home T&T Ft W 5% 55.......103

n Lin N

Iedieg 59

Wks 57% 58... Krusner Packing Co 4s 50.. Morris 5&10 Stores 5% 50.... 99 Muncie Water Wks 5% 65..... Noblesville HL.&P 6%% 47.... Ohio Tel C

Cor Market St. Investment Corp... 23. © (By M. P. Crist & Co.)

—————————————————— FOOD PRICES ACO tots, Oral $1a08k 1 5. atoes—Tennessee, - bu. hampers, ._ Carrots—Illinois, bu., 400 600. @Tb¢c. omatoes— . _Peas—California Cauliflower—Cali-

40@ : diana Yellows, 75@80c; Michigan Yellows, 75c@$1; Wisconsin Yellows, 90c; Idaho Sweet Spanish, Bc@ $1. 5 be

i»,

ry IYPEWRITERS

All Makes Rented and Repaired Quality at a: Price

-\view of the adverse conditions of

1.50 pared with a net loss of $5,308,318

2 first three periods of the year.

"| Predict Steel Mill Rate to

472,533,969 tons. The latter was was

ALTHOUGH OFF, “HELD AS 600D

Magazine says '38 Net Was Better Than Expected “For Year.

CLEVELAND, Feb. 7 (U. P)— The 1938 net profits of nine steel companies, representing 74 per cent of the industry, amounted to only $1,818,766, compared with $181,011,624 in 1937, “but. this record is much better than expected in

Jos year,” ‘the magazine Steel said ay. a dR TL i The publication reported that “it shows that the steel industry has been able to reduce its production costs still further. Fourth quarter earnings indicate that the profitloss ‘break-even’ point for m#jor companies is an operating rate somewhere between 40 and 45 per cent of ingot capacity.” The net profit of these nine companies in the fourth quarter of 1938 amounted to $13,466,467, coms«

in the preceding period, the magazine reported. The publication pointed out that the figures did not indicate a profit for the industry “as a whole” since several “important producers” which have not ..yet reported for the fourth quarter had deficits for the

Be .6 Point Higher

NEW YORK, Feb. 7 (U. P)—A 534 per cent of capacity operating rate has been schedyled for the nation’s steel mills this week, the

highest rate in eight weeks, the American Iron & Steel Institute reported today. The rate represents a gain of 0.6 point or 1.1 per cent compared with the preceding week and contrasts with a rate of 51.7 per cent a month ago and with 30.7 per cent a year ago. : This week’s operating rate was calculated on the industry’s capacity basis as of Dec. 31, 1938, at

above the capacity of 71,065,540 tons as of Dec. 31, 1937. Hence, operating rate this week is lower than it would have been if based on the former capacity figure. The improvement was about in line with expectations in trade quarters. Observers had reported that Pittsburgh district operations were scheduled to hold about unchanged this week, while moderate advances were indicated for the Youngstown and Chicago sectors. Demand for steel has failed to reach the volume anticipated earlier this year but sentiment in the industry appears optimistic. eee re re ——

FRANCE’S FOREIGN TRADE DEFICIT UP

PARIS, Feb. 7 (U. P.)~France’s foreign trade deficit in January rose to 1,157,500,000 francs ($30,615,875) from 922 million francs: ($24,286,900) in December, according to official statistics issued today. v The January trade report placed total imports for the month at 3,977,560,000 - francs against 4,213, 939,000 i December, while exports amounted to . 2819,989,000 (rancs compared with 3,291,852,000 in the preceding month. :

DAILY PRICE INDEX

NEW YORK, Feb. 7 (U. P).— Dun & Bradstreet’s daily - weighted price index of 30 basic commodities, compiled for United Press (1930-32 equals 100): : | Yesterday esssssssncavessseses105.08 Week ago 0000000000000 0000 00 .105.45 Month ago s6e00schecs sos .105.38 Year 880 ...vaecvonsanseenses 113.87 1939 high (Jan. 18), 106.10, 1939 low (Feb. 6), 105.08.

STEEL PROFITS, |

tion at the Chicago Town Meet-

cigo Real Estate Board, and Frank

the| ¢:

TONIGHT 7:30=Al Jolson, WFBM. 7:3(=~Information Please, NBC. 8:30—Fibber McGee, WIRE. 8:3)=—=Benny Goodman,

4. concert featuring Beethoven's Eighth Symphony and covering a rarige of music from Purcell’s in the 17th Century to that of the lat> modern . American, Charles Tomlinson Griffes, will be played at 2 p. m. tomorrow, CBS-WFBM, by the Indianapolis Symphony Orchistra., © : Fabien Sevitzky will direct the weekly “Music Hour” broadcast. The program includes a Suite in OC, by Purcell; the Beethoven SymJ Griffes’ “The PleasureDome of Kubla Khan”; “Tales From the Vienna Woods,” by Strauss, and the overture to Glinke’s “Russian and Ludmilla.” : : ® 8 #» Many wonder “What Shall We. D5 About the Personal Property Tax?” So four men, whose opinions

are valued, will debate the ques-

irg at 8:30 tonight, CBS. Speakers will be H. Gordon Bollman, chief. of the administrative service division of © the Cook County assessor's office; Douglas Sutherland, executive secretary of the Civic Federation and Bureau of Public Efficiency; John C. Bowers, chairman of the legislation and Taxation Committee of the Chi-

J Billick, president of the Cook County Civic Council. ® 2 » Another pertinent question, “To £rm or Not to Arm” will be attacked from three points of view by prominent speakers during the General Federation of Women’s Clubs rrogram at 2:15 p. m. tomorrow, MBC-Blue. ; Norman Thomas, Socialist leader; Louis Johnson, Undersecretary of War, and Prof. Harry Gideonse

- ON THE RADIO

phase of the American attitude o

|the question. Viewpoints will - |isola increased

re Mammen and collective security.

tJ 2 8 “Ruddigore,” Gilbert and Si van’s rolicking comic opera, will presented in streamline form at tonight, NBC-Blue. Muriel Wilson, soprano,

Alma Kitchell, contralto, and I Scott, soprano, will sing the role Mad Margaret. rt Fred Hufsmith, tenor, will pla; Richard Dauntless and Walter Pres= ton, baritone, will do Sir Despar: Murgatroyd. Harold Sanford will direct. : fa . 8 8 8° DRE Mr. and Mrs. Adolphe Menjou (Mrs. Menjou being Miss Verree Teasdale) will be guest stars on the Al Jolson program at 7:30 tonight, CBS-WFBM. In addition to his guests, Mr. Jolson will have with him, as always, Martha Raye, Pars kykarkus and Lud Gluskin’s orches= tra. . 2 82 = Eo The women’s singles tennis chame pion of the United States, Alice Marble, will invade the “Men Only” program at 7:30 o'clock tonight, NBC-WIRE, as the only girl guest star. Others appearing will be Tom Howard and George Shelton, comedy team; Capt. Tim Healy, ‘postage stamp collector; and Arthur Men= ken, motion picture photographer. ® 2 8

Still on the subject of guest stars —Zasu Pitts of the fluttery voice; will guest appear for the second time with Fibber McGee, 8:30 to= night, NBC-WIRE. : Si i" #® ® Prof. John T. Frederick will res view three new. biographies on his “Of Men and Books” program at'3 p. m. #tomorrow, Edna Ferber’s story about her own life, “A Peculiar Treasure”; Lawrence Thompson's “Young Long=

of Barnard College, will discuss a # 2 o

INDIANAPOLIS WFBM 1230 WIRE 1400 (CBS Net.) (NBC-MBC)

ues, Before Senate I. U. Program ea Tunes . Light Opera > n Home Edition

Hansel & Christ, Science Monaco’s Or. Howie Wing Jordan Cons. ” 9 Piano Parade

News Easy Aces Tony & Bill Varieties Second Husband Walter Shead

Big, Town

Al Jolson Men's Program

Gretel Louise Wilcher

fellow”; gnd Charles G. Poole’s “Goya.” : ¥ #

2 =» “ THIS EVENING :

(The Indianapolis Times is not responsible for fnaccuracles in program ane nouncements caused by station changes after press time.)

INDIANAPOLIS

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Decker & Organ Hannah S Johnson Family Terry X Jack Armstrong Paul Sullivan =

Don Winslow Haines’ Or. Nixon Denton Lowell Thomas

Amos & Andy Varieties on't Believe I$ |

Musica

Monaco’s Or. Terry Concert Or. Orphan Annfe

Midnight H

Capt. t. Herne

Capt. Cone

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Johnnie

Ison Men's Program

Lightning Jim

We; The, People Goodman's Or.

Crumit-Sanders Fibber McGee

Dr, Christian » »

Jimmie Fidler Our World

News C. Baum’s Or, Casa Loma or.

Bob, Hope

Uncle Ezra Carl Baker

Amos & Andy News Kinney’s Or, ”» -”

Crumit-Sanderson fton Utley .

on Donit Believe It : Trib. Fibber MoGee

True Detective Don Pedro’s Or. Northerners

Paul Sullivan Sissle’s Or. a Salute ”

Concert Or. urgen’s Or. Carlsen’s Or, ” »

8S. Kaye's Or. Strikes & Spares Barrie’s Or.

Lee Shelley Martin’s Or.

WEDNESDAY

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INDIANAPOLIS WFBM 1280 (CBS Net)

Early Birds Devotions

arkets

INDIANAPOLIS WIRE 1400 (NBC-MBC)

Field's OF. Mog Eiyer

Don Pedro’s or.

PROGRAMS

. INDIANAPOLIS WIBC 1050

Review Travers’ Or.

Tabernacle ”» ”»:

» » » ”» ”» ”» a ”» Richard Maxwell News : Montana Stim Dessa Bie undup Baby Bulletin Apron Strings Piano Parade Central City

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Stepmother

David Harum Lorenzo Jones Big Sister - Widder Brown Life Stories Mary McBride = Singin’ Sam Nancy James Linda’s - Love Farm Circle Dr. Malone ” ” Farm Voice

Farm Hour WIRE Reporter

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Farm Program ews Earl Gordon Manhattan Party Line Betty & 5 _ Irene Beasle Gri 3 School of Al i Valian y $ id ’" Betty Crockep Indpls. Symphony ”» ”

Hollywood Girl ” ”»

Bob

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Police Court

Men and Books

Zany Family Siena allas

0 a Navy Band ‘Girl Alone

Time Has Come :

Woman in White

Editor's Daughter

Voice of Exper.

mm’s Daughter C t Lad

Progress . Parade

Backstage Wife

Breakfast Jam ”» ” » .»

Over Coffes Cups '

( Paul Allison Presentin

Mart & Marge H ton House Gospel Singer Once Upon Time Meet Author 5 . Julia Blake The Goldbergs

News Linda's Love Matinee Vie & Sade Consecration Farm. News 3 LS Road ot wuife

Editor's D ter Hoon

Top Notchers Devotions

Kay Bartlett Matinee

{ ews Boy Greets Girl Farm Hour

Back Home . a Frank Dudgeon Farm News Sleepy Hollow Voice of karm » 4d Happy Gilmans

Food Quiz Betty & Bob . OE Grimm’s Daughter Shut-In Friends Valiant Lady Bandbox Betty Crocker

Pianorama Mary Marlin Empenget Pharr fom ert 20m Guiding Light Swing Concert Mad Hatterfields Mary Paxton Midstream Old Refrains Beautiful Life Hawaiians Kitty Keene

New Business Books Available at Library

The following new business books now are available at the business branch of the Indianapolis Public Library.

AMERICA’S STAKE IN INTERNA TIONAL INVESTMENTS, Clara Lewis . and K, T. Schlotterbeck. of case material showing why capital migrates.””. PRACTICAL RADIO WRITING, by Katherine Seymour and J. T. Martin. “Radio writing, which is acquiring , the dignity of an established, reputable. and remunerative profession, is less than 15 years old.” RISE AND FIGHT AGAIN,” by Samuel Merwin. The story of Louis K. Liggett and his chain of drug stores. HOUSING COMES OF AGE, by M. W. Straus and Talbott Wegg. The

“A wealth how and

”» ” I U Tes, Tunse

Home Edition Piano Parade

. U. Program Minute (interviews

Legislature Hannah

a Z90zesler y ili Armstrong ugie Tay Paul Sullivan.

KEY NETWORK STATIONS (Subject to change): NBC-BLUE—WJZ, 760; WOWO, 1160; WENR-WLS, 870; KWK, 1350. NBC-RED—WEAF, 660; WTAM, }070; WWJ, 920; WMAQ, 670. CBS—WABC, 860; WIR, 750; WHAS, 820; KMOX, 100; WBBM, 770. MUTUAL—WOR, 710; WHK, 1390; WHKC, 640; CKLW, 1030; WSM, 850..

works

accurate inside story of America’s first Jublie slum clearance and lowrent houisng program. RIGHT AND WRONG IN LABOR RELATIONS, by W. M. Leiserson. A ‘lecture cn the “morals of trade.” SWEDEN, - THE MIDDLE WAY, by

Marquis W. Childs. Revised and Enlarged Edition.

FHA HOME LOANS

to BUILD—BUY REFINANCE REMODEL REPAIR

Consult our officers about your home financing needs.

Fidelity

Trust Company’ 123 East Market Street

Member Federal Deposit Insurance Corporation

WOODSTOCK TYPEWRI hy 30 S. Pennsylvania St. ITER ie.

i i

OUTLET

other dependents where a change

IV ) 1

FIRE =the public enemy == destroyed over 300 million dollars worth of property in the twelve months of 1938.

@ Day or night, fire is a costly business, and in the end everyone contributes to make up the value of what has been destroyed. Property owners absorb the cost of fires first in theirinsurance premiums. Then there are lost rents and profits which result from business intex -uption:

GRAIN DEALE

MUTUAL FIRE

- than $17,000,000:

“PUBLIC ENEMY No.1”

best at night

~ Fire Prevention is a definite public benefit and the leading part played by mutual fire insurance in the prevention of fire loss is recognized everywhere. Ma tual Insurance yeduces costs by reducing losses—it has demone strated consistently its ability to do so over an experience of - years. Your resident agent listed below will welcome the opportunity to explain how “Grain Dealers Mutual” bas saved and returned to its policyholders more

RS NATIONAL

INSURANCE CO.

dianapolis, Ind.

CBS, including |