Indianapolis Times, Indianapolis, Marion County, 15 February 1939 — Page 19

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RD HAS LIGHTEST STOCK TRADE OF YEAR:

Traction Group Strong Spot in List; Range Narrow.

NEW YORK, Feb. 15 (U. P)— Trading dwindled to the lightest of the year on the Stock Market today and prices moved narrowly.

Around noon the list was prac- |; tically unchanged with small gains |B& Bu

and ‘losses balancing eacn other. The ‘only strong group was the traction where Third Avenue Railway made a new high and the Brooklyn-Manhattan Transit issues moved up fractions to more than a point. Grocery made new highs. Wright Aero rose 1% ‘points on a single: transaction. . Steel - issues held fractional advances. Railroad issues were steady around the previous close and the utilities were practically unchanged. Oils turned down after early firmness. Motors were easier with Chrysler off a- full point at its low of 75. Coppers eased slightly with the price of export copper. |

U. S. Loans Are Firm

'U. S. Government loahs firmed in an otherwise dull and ®irregular trade on the listed bond market. ‘Federal liens attracted only moderate demand in early dealings but offerings were light and prices moved forward to show net gains of 1-32 to 7-32 point. ‘New York City Traction. Co. Joan were strong in the corporate Manhattan issues registered early gains extending to about a point

while Third Avenue Railway liens|G00c

moved up to new 1938-39 highs on gains ranging to 2 points. “Other domestic tion bonds hovered around their previous closing levels. Foreign dollar loans improved moderately under lead of Latin American issues.

» Aeros Feature Curb Stocks

Firmness in aircraft issues featured an otherwise dull market in curb stocks, Price changes were small. , Fractional early gains in aviation shares ranged to ; point in American Airlines. Utilities generally were steady around the previous close but Electric Bond & Share eased 1. Babcock & Wilcox extended an opening loss to 1% points but other industrials were steady. Mining shares were neglected. Humble Oil lost a point but other issues were

idle. os

Today's Business At a Glance

By United Press GENERAL BUSINESS

American Petroleum Institute reports week ended Feb. 11 crude -oil output average 3,283,700 barrels|— daily, off 158,250 from previous eek, CORPORATION NEWS

Associated Gas & Electric System week ended Feb. 10 electric output 94,689,776 kwh. vs. 84,885,256 year ago, up 11.6 per cent. Chrysler Corp. and subsidiaries 1938 net profit $18,798,294 equal to $432 a share vs. $50,729,211 or $11.66 in 1937. : Cincinnati Union Stockyards Co. 1938 net profit $103,888 equal to $1.08 a common share vs. $82,881 or 86 cents in 1937.

8 »

Cleveland Electric Illuminating!’

Co. 1938 consolidated net income $6,825,924 equal to $2.44 a common share vs. $7,101,798 or $2.56 in 1937. Columbia Gas & Electric Corp. 1938 preliminary consolidated net income $10,244,489 equal to 31 cents

a common share vs. $13,573,480 or 3

57 cents in 1937.

3 Consolidated Edison Co. of New|3

York System week ended Feb. 12

electric output 150,500,00 kwh. vs.|4s

131,900,000 year ago, up 103 per cent. Continental Can Co., Inc., 1938 consolidated net income $7,101,973 equal to $2.17 a common share vs. $8,913,526 or $3.06 in 1937. General Baking Co., 53 weeks ended Dec. 31 net profit $2, 713,425, equal to $1.26 a common share vs. $1,504,-

813 or 50 cents in 52 weeks ended |2

"Dec. 25, 1937.

Jones & Laughlin Steel Corp. and subsidiaries December quarter preliminary net loss $1,129,856 vs. $1.773,591 year ago; 1938 net loss $5,879,958 vs. net profit $4,788,799 in 19317. Lehigh Portland Cement Co. 1938 profit $704,003 equal to 63 cents a common share vs. $1,250,544 or $1.35 in 1937. “Public Service Co. of Northern

Illinois 1938 net income $3,635,025 |¢

equal to $5.42 a common share vs. $4,703, 997 or $5.53 in 1937. Quaker State Oil Refining Corp.|J and subsidiaries 1938 net profit|T $527,610 equal to 57 cents a share vs. $1,029,250 or $1.11 in 1937. United Drug, Inc, 1938, indicated net profit $475,000 equal to 34 cents a share vs. $1,312, 314 or 94 cents in 1837. ' RAILROAD REPORTS

Chesapeake & Ohio Ry. Co. week ended Feb. 11 carloadings 19,916 vs. 18,374 previous ‘week and 19,642

~ year ago.

New York, Chicago & St. Louis R. R. Co. week ded Feb. 11 carloadings 4479 vs. 4473 previous week and 3624 year ago. Pennsylvania R. R. Co. week end-

ed Feb. 11 carloadings 53213 vs.|N

53,439 previous week and 46,420 year ago. "Pere Marquette Ry. Co. week ended Feb. 11 carloadings 4688 vs. 4690 previous week and 4489 year

ago.

SEE FINAL EDITION OF THE TIMES iy FOR. OTHER LATE NEWS AND . CLOSING STOCK QUOTATIONS

Is Only |d

J. C. Penney and Kroger S

Interborough and Brooklyn |S

ERE

Rs ~ rr - Ng "y . ey a '% 1 3 : ' gp n 4 Tr £ EI, Si ¢ daa pe x Ao ha Se - a a OL (CAND [TUNE Ur WHER 10148 January Ui1p ot By United Press™ “e———————— | ite 3 rh T —— ~~. |DOW-JONES STOCK AVERAGES TURNS STE ADY: oO Retard ( , S. Busin ess Higa sow Last Change : 80 INDUSTRIALS : Abbott Lab .... 58% 58% 58% .... |yesterday ...ee.. 144.13 —0.48 ; Alaska Jun .... 9% 9Ya 913 .... sessssscecssssesse LS ; Ada: BEBE BE % os ae coitrtie nn HE SA RANGE NARROW Col. Ayres Says New TOP HOG PRICE ote. 14a 14lz 14a — : ; ; i SETAE BBL me Advances May Be m a .e ® 8 =r A y » 080 5 . Gare fl... ava’ 4% 4% -... | High, 1988, 158.41; low. 98.95. ; ‘ : : Expected ’ v v ese v 1 b, 1 in Machardy dE Ew % BAILROADS Firm Trend in Corn. Aids Xpecter. 3, m News ..... 4 a a ies : : : : : r SEER / | y — Yg|Yesterday ..c.ecceecfececcee 29.89 —0.79 . - x Am Rar SBS do fiw fw Tl. Iweek Ap ILI was seal - Buying; Most News CLEVELAND, Feb. 15 (U. P)—| | m P&T I 74|Month Ago ....ic.isieeeea.. 82.00 +018) - . Col. Leonard P. Ayres, vi f= Am Water W .. 12% 12% la% — %|Me® . . Ayres, vice pres : Aneconda -.:.. 83% 2304 WW ae a Ny sin ol = Bearish. dent and statistician of the Cleve- Weights 160 Pounds and 44 Refining, 5 an Bn X » High, 1938, 33.98; low, 19.00. : ; land Trust Co., said today that the Over Advance 5 (ents: nis LT 7 1s uTmaTEs . 'v| (CHICAGO, Feb. 15 (U. P).—|rgjlyre of American business to Beth Steet .... 87% §1% 7% + (Yesterday ... —o.13| Wheat prices developed a steadier. ntinye its upward trend in Janu-| Qther Weights Steady. igelow San '.. 28% 242 241A = 04 Week Ago ... +031 tone after an easy opening on the, was not disturbing and that rp et aI 18 18% = i Month Ago .. +0.05 | on Board . “ 2 ore Wa or: 38% 26%2 28a 4 . Year Ago .:........i....... +0.02 Chicago of Trade today.|new Sdvancss may well be ex Yiogs. weighing | 1160 poiinds and 3dgept Brass . 13% 135 13% uo. | : ~_|Price movements were in a narrow pecte: Briggs Mfg © 20 24% 2. — Uk High, 198, 2.52; low, 23.30, : The let-up of business’ “vigorous” | °Ver advanced 5 cents at IndianapB yn-M Aid 33% 32 : 739 + bid High, 1938, 25.19; low, 15.14, range. advance ‘during the last seven olis ‘today to establish a top price AR Lh Te TH ii wei | At the end of the first hour wheat of $8.35 for 200 to 210-pounders, acBudd MME .-.. 818 giao an: Heh Low. ‘rast CBS, months of 1938, he said in his OF derSnan “gheky a. 5 gh Low. Last Change was unchanged to off % cent, corn regular monthly business review, |COrding Ss Sureau O ASL oo fo ure on sree, 0% Bs 9 .... j : “ » tural Economics. Lighter weights PETA ees : up % to % cent and oats un-|was not “astonishing” and should . Calumet & B .. 1. sin on 23 Ps By 3 not be “discouraging,” because the | Reid Steady to yesterday's levels. Ches & Ohio .. 35" 38° 35 + 7 Ra thor ab 2% Tu + % [changed rise from last May to Deecmber| vealers were steady with the top Eh nenT .. I00 Bh LT 4 Richfield Oi: 9 gr an A firm undertone in corn aided | oc wmost unusual” and was un-|Price holding at $11.50. imax Moly Co 52% 52Ve 53a — 32 Tob 40 .... |the wheat market, encouraging : : Fat lamb supplies were small but Colgate-P-P 534 15 15 + 1 Reyn an jus ea v3. 14%, 14a == Y% 2 3 precedented since the 1929 crash. had littl fect ic which Com Inv Tr ... 55% sa 85% + % : enough buying to erase opening The “slight. recession” of January a e effect on prices, C ‘Com Solvents .. 12% 13% 12% .... wes Gunes fractional losses. Most of the news ’ : held close to yesterday's levels. Comwlth: Edison 27% 21% 37% .... |St. Jos Lead .. 40% 40% 40% =~ % as judged by industrial production Cowlth & So .. 1% 1% 1% + Y|Sears Roebuck. Tile 71% 71% .... |was of a bearish nature. volume, may be explained partly by . ] Comwlith So of 33 39 3 I 1t|Sceny veo ..'B% 'B Bw iy | Export demand for North Ameri- | 0 “exceptional duration and vigor” beh In Rr bl To Bete V a 8 , see ees 8. « 8 Cons Edison pf 108% 103% 103% + % So Cal Bd ..... To ton han fan wheat continued flat, although oe tne ‘preceding rise itself, Col. nh 53 sles it 330 68 ern “ese 1 oe . o! gin Bw ne Hh aero foun, ro isi in 18 + 7 jnguny ‘Was. reported somewhat Ayres said, Ho listed five other| }3 a $a S0a8) 3 38 WW asres 4 waa s . oe 2. 18 rs”: Corn Prod .. -_ HA A ve oan Spiegel abe at 13 a 13%. 13% seen Liverpool wheat closed 1% to 1% "Pho bakle Nati of auto-| Barrows and Gis Jose Sows Curtiss Wr . 6% 6% 6% *y. |Std Oil Cal ... 21% 21% 27% 4 'y|cent lower on slow demand for par- | Good and fase : Curtiss Wr A 2.27 231 21 + %|g Off Ry i Bid 9k St I 1 mobiles. ce— 9300 $ 7.35- 7.50 —D one & Web. 14% 1% 14 ..J|cels and selling by a large miller.|"y ‘wondwide doubts and fears| 140- 160 § 7.25- 85 42 433- 350 ° 6.80 7.35 Dayton P&L pf 110% 110% 110% .... Studehaker - ade np + » Winnipeg held about steady in Slow | stirred by Spanish insurgent suc- . 180. 130. 3.0. gs) 425- 550 6.50- 7.00 Diot Geen. 18% 18% 18% Xs Cay raging. th sh ttle [CESSES at Barcelona. 300-320 8.5- 8.35! 215. 530 6.35. 7.00 Dome Mines ... 31% 352 304 — Third Av Ry Po 2% 2% 4 e weather map. showed Iittle| 3. Uncertainties regarding Ger-| 330° 200 7.95. 8.20 of Gon sac Cho feo Douglas Alr ... 70% 70% 70% + | 7S 8; 12% 13% 12% i} | precipitation in the grain belt. Light |, 00 v's policies folowing the retire-| 200- 350. 7.45- 7.85 100. 140 § 7.00- )- 7.50 u Pont ....... 149 Td 149 — 4 Transamerica, o 6% 6s 8 — 1g |snow is expected in some portions ment of Dr. Hjalmar Schacht as | Mo > . 6.25. 1.25 — S V4 sees . ; East'R Mill .... 6%. 6% 6Y% .... |30th Cent-Fox.. 23% aw 2% Fu fog, ag ment Nou president of the Reichsbank. LTE Recor ue aton Mfg .... 23% 23% _ 23%’ + % to. 7 Als: 4, The decline in new flotations ors Elec Purale .. 10% 10% 10% + lunion carb .. 84% 8a su + 3 [8eDeral winter wheat condition. Joe capital securities by corporations. | Fag. 00 $10.80-11. 75d mt 7.00 1.80 gE Pu . ; - L''3|Un Aircraft Cp. 38% 38% 38% + %| An improvement in flour sales was « »| 900-1100. 11.00-12.50] Medium... 6.50- 7.50 BESHI0 oxen la a % (Un Alr Lines . 31. H: HH. oo _ 5. The “disappointingly small”| 800-1300 11-00-13-38 Mea. $30 6:35 —— United Cp of . 35% 38% 35% — "y [reported both domestic and export.|, dgets for new expenditures an-|Gosd- Vealers Firestone T .... 31% 31% 31% .... |Un Dyewood .. 8/4 sh Bl .... Market observers fear that tem-|, inced by utility corporations, | 730- 900. 11.25-12.75/A1 Weights— Just NSts i Bu f2% ih —1h u's Rie Imp lifes PB» 97 ® <i''y porary suspension of wheat imports| oo] Ayres was optimistic about |il0o-1500. 500-1135 Nadim. . o.00-11:00 Te “| 8 granoer ve 0% Se BF I A into Brazil may result in some in-|ine suture, He said the preliminary (1300-1500. 9.00-11.35| Cull and 00 Gen Am Tr .. : - 8% 58% 86% + %| U S Steel pf ..115% 118% 115% .... orease bl ae of gine figures for January business in- Mie0-1000. 8.00 3.00 com Ga vei en 934 A —V— n the world market. “ ms.” 1100-1300. 82! (Receipts, Gen Baking of vt i 138 1382 1352 — &|victor Chem .. 35% 25% 25% .... | Despite flat foreign demand, corn singed “several encousaping ans Common PISIN— | 25 Teoria +300 300 Gen ‘Electric .. 40 ~~ 40° 40 + sr held a firm tone. A higher Buenos|,, slightly from December levels,” Goo 0- 9.00 Gillette s ® "41 1 ei WR Brake. B94 34% 34% —''s|Alres market and a reduced esti- To hy “and rn deh Inctme chases Medi £80: 4 Gimbel Bros ... 11% 11% 11% — Yil\wheel Steel 5 5 ~..."|mate of the Argentine crop had a |, . 750- 900.$ 9.75-11.00 os 3 : an . ere has been onl Feeiler and Gobdvear "1.0 3% Siw iw TL 45|White Mob... law low low ii. constructive effect. Local receipts RE tary Dior Roc 00. 8.50- p.7s| Stocker Cattle —H— : " Woolworth oe. L482 48'2 . 48% — ¥a|Were placed at 66 cars. Lard futures ment, and little decline in factory S550. 00 7.50 s50 ood Hecker Prod .. 11 11 1 te ruled slightly higher. rtment | Common-— » 500- 800 $ 8.00- 9.25 Homestake .. 63 63 63 - 1 Zenith Rad 18% 18% 18% + ¥ payrolls. The -volume of depa. ent | Com 900-1300.. 7.75- 9.00 Houston oil .. 1 7 : + 4 215% a 8 . store sales has held up well, and 330. 900. 6.50. 780 Medium- + mi fog 5%. %, +% DAILY PRICE INDEX| ,CHICAGO GRAIN lineio tus teen a emul geirstel,., opm, yo St 155 15 Tnthnd Su 171 da san san 11 Opening prices tod the Chi-|in the cost of living. Security |izedium .” 6.50- 7.7 Eeifers Tt hyd EA Sp fn Sg TO rd : pening prices tocay on the i hich fell rather sharply Common 8.50- 6.00|Good and Choice : Int Nickel ...51% 51% 81% 1 'n| NEW YORK, Feb. 15 (U. P.).—|cago Board of Trade, as reported |Prices W o Seng Dy Low cu 500~ 750... 7.35~ 8.25]: MELE i ee Be U1 — 1: |Dun & Bradstreet’s daily weighted [by Thomson & McKinnon, were: Ne ee oul Be hoon 2" cutter: 4.35- 8.50 f Common i SE TT ror 8% iw B% 1m I onde tony Hie Wheater? uly Sept. Hua then staged a strong re-| SHEEP AND LAMBS (Receipts, 383) i : > $67.34 [email protected]% $.685% covery.” Lambs equals 100): Corn— - Ermer G 48.39 1% B + 0 eSOTARY anvveresserneess 10496]. ASKOASK 40%@40% 50% ae Snvisioned the Sw a Sehorce 8 8.15- 0.00 m Smeattun s 750- + Dewees foe $% 8 nc |Week'ago weooiiieiiegesn..., 10513 On eee eee J26% iin: probably next summer Ewes Lill 0 —M— Month ago . ssssssceressescens 100.10 RY a 51ia 10% after contributing about a quarter Comino “aid “mediuin. 1: a 21048 3.%0- 4:80 Marine Mid ... 8 4% 8 + i Your a To 7 35 Bo a Asked; b Bid,’ ’ of a billion dollars monthly during K ariin ras ig an. *vessess the past half year. : Ea A By Np TL P y 9 Midecont. Pet a 1824 16% - i 1939 Low (Feb. 9) .......... 104.63 Gliv ein WaooN WHEAT ne for No... Taking into consideration all CHIcAco Livestock : Motor Whi ae 153; 15% 15% + ve 1 red, ac, giher, HP SO Shae merits. these diverse fatcors,” Col. Ayres Hogs—Receipts, 12,000; ! active, . market, ame Gath corn. ew 8" F allow, le" said, «it seems reasonable to ‘be sich Io" 1 tenis ‘Wher pas miskasy Nash-Kelv .... 1% 1% 1% + b Curb Stock S lieve that the business gains so far |%5 food and oh “160-240 1 los. $8 Nat Biscuit 1.0 25% Ph BU + % / attained are likely to be held pretty |8.490;" 250-280 Ibs. 87. 80@8; = 290-350_.1bs. Nat Dairy ..... 14 14 MH LIVERPOOL WHEAT butchers, $7.67@7 good . 400-550-1b. Nat Distillers. . 26 26 28 + % ; Net Prev.|well, and that new advances may [packing ‘sows, $6. 5a. 10; lighter weights, Ney poypsum.. 0% Bn an Zu Mish Xow last Change) archold oa oa Mi Close | well be expected.” Tae Receipts, 8000; calves, 1000; mar aes ry 4 Ee . Am Alrliges ... 21% 20% 2% + % arcao 8 3 3.81% 5.81% Be cop Dis, Ca ves, BE Nat Steel 74 4 74 “***y, |Am Cit PL A 32° 32 32 + 3 |March new -.61% 05s .61 - ket largely fed steer and yearling run; Nat Sun Penn. 12% 12% 12% + . : : p ng N'Y Central 18% 1 18 + it 4m Gran... ait pS 3 In May ly ais 8 4 "839 BETTM AN BECOMES aig er a le ee "on. bet. NEN we wi we Am Lt & Tri l6 16 16... July... 84%; gals 64% .6dia ter frades, steady to or ert thong A cee. 18% 18 183 ‘sy |Am Super .... 4 : ; , } Bo am aw 00%, %. 18% + % Ark N cas 2% PU = CURB BOARD HEAD BT ie Lop, $13. ache a Oliver Farm Eq 2¢ 24 24 — % (Atlas Corp wts. % 7% 7% +1-16 GOODYE ET SY aon: cows, acutely scarce; es63 ve th I rr. 8 65% 5h md y guster gra i selling a own Sweris W018 LB a 28% 20% 20% + 14 NEW YORK, Feb. 15 (U. P)— io $450; ‘most “at “cous. “sea. ‘witn ! 45 7% 45 4 %|DETReY Gay F a 3.16 > ris The New York Curb Exchange to-|to 15 cents, nly her; weighty sausage offerPacific Ltg ... 8 Carrier Corp .. 16% 16% 16% — 3 ings, $7 3 Nor 5 cents higher, at fackard Bis: ny 13% 16% ity Ce t & Sw U , 1% 1% 1% + '% day announced - the election of sia 1150: 18 S13: Stocker and seeder Patino Mines . 11% 11% 11% — % |G Ba & 86 ...110f 13f ne XB Clarence A. Bettman as chairman |irade slow, “steady; ‘mostly $9 down; more pen = Rn 3 12 3 +++ |EIBd &8h5'pf 61% 81% 61% — of the board, along with the entire Steer eef in run than previously s ERD: re... 390 33if Jppntt yt'yy Ford Can A 81, 3. A, — Te “regular ticket” of governors and | Sheep—Receipts, 7000; late Tuesday kill. Bilis ‘Sc & B'. Th. TA TH = YG: Nog Taper. 3% 3° WW : trustees: named by the. nominating [12% classes steady fo 13 cents higher; Press Stl Car.. 11% 11% 11% == Yeiguif Gil ...... 3° 3 Ea aN ; thor tra Body’ Bg lau Proc & G of, . 1 117 a ni an 10 -— vee Ya Lockheed Air. 32 3% 3% 1u . : . committee under the trading body’s 9.15; others, $8. 15@9; top s 3, hter ewes, Mont Ward A .161 1 61 + i Decline Reflects Business new constitution. E Pr Bidleations "Steady tn OO ae frags NC fLpL J Ba Det hn Ri ion in Earl Regarded in Wall Street circles as [around [email protected] to choice Ambs e orp 1 : N. Y. Bonds Niasg HE Pw 8% 8k : 85 Ix ecession in karly the frst concrete step owerd con- best held $9.2 239.35 and better; sheep in W ... ts ’ summation o e reorganization : BOND PRICE INDEXES Sherwin’ w''i'107 "107 012 ll Part of ’38. : Q no kee : plan which was adopted by the Ex- THER LIVESTOCK ~ os vin Beis Technicolor 11: 10: tin A ED ER change last Oct. 4, She dle otion was or INNATI, Feb. VI iy [OCT = . t Wiworth Ltd .. 14% 14 14%... ‘ AKRON, Feb. 15 (U. .P.) ~The carried out virtually without oppo- [saleable 200%, total, 2600; inarket, active Yesterday ..... 863 58.7 1008 81.9 Wr Harg ..... » 8% 8 8% — % ’ k + ‘P.)—The on If ht’ suppl pSieady to'5 higher; 9. : 2.0 sition. w $8.25; 100-140 Ib Baek ago. yes gs 8 us 5 4 : EE: | Goodyear Tire & Rubber Co. today |” potiman as first chairman under i sg a os od 0 abi FLERE) 54 Year Py i 80.9 66.0 92.0 49.6 Chicag 0 Stoc k S Yeporied vonsolidaied net profs of the new constitution, received 375 &atite-_Saleable receipts, 250; total; 550. ata oi7 Iwi wie 99s : A + $6,012,423, equal to $1.3¢ a common of the 390 effective ballots cast, Calves —Saieable receipts, 250; total, 3007 1939 High ..... 86.7 61s 100.8 3 : .High . Low i share for 1938 compared with $7,- hile the n fore mM ne t¥o vi Tew ood steers, $92sao sb. snort 1939 Low ...... 85.6 56.9 99.1 W6{Belden Mfg ........... 9 9 rusvees oO e 'e=- | loads mixe a 'S 1338 High sere 81.3 70.0 99.7 83.0 GoRL DL BS DT... ne 0% 0 257,287 or $1.94 a share In 1931. ceived only slightly less impressive [PES SO%s) practical top fain ang Ded, AEE RE pe LE Th gi 30h ate Dt oa oo S your imajoritiss, Se op Joules $100: total. 100; market, 1937 High ..... 95.0 101.2 106.0 100.7 |Dayton Rubber 4. a were reported a com-| The new officers will assume their » ; 2 ered ter s01 69.3 923 sL1/Mcleman Brew 2380 29h 2 |pared with $216,174,513 in 1937, abquties at the close of business Feb. es Dan Ch iy a 1936 High ..... 94.8 100.4 1062 100.2) Kellogg S B pf. Fk Tl 044 decline of 23 per cent. This decline, 23, after which the board will elect [0 Dative lambs, $9.50; strigtly good ab1936 Low ...... 90.0 84.7 1085 93.3 Lincoln or t.: "38% 30% ,5'2|the company said, largely reflected a paid president and a vice chair- [ter ewes, mainly $2@3. (Copyright, 1939, Standard Statistics Co.) M ontg w d 49 49%, d9% the busines recession early in the man. FT. WAYNE. Feb. 15 (U. P.).— os ovum soos [LA Bu Tos By Mu h|vear, and the 4 per cant decine in 13 5, conty Miner, Soba or, grate; <8. : ) Perfec rcle 27% 27Y2 271; (automobile production as compared S.. 58.19. bs. Treasury Bonds Quaker Oats 115% 115% 115% with 1937; LUMBER ACTIVITY bs $8. 5; 250.280 is; $7.90: 0-300 oS High Low Last|SRIEneon bf 814 1874 1814| Current assets as : |300T60 Ths $180; 120140 Toss $756: Swift & co ...0..0000 of Dec. 31 were : os., $7.85; 1003%s 1943-40 June. ...:105 105 105 United Air Lines - 107s 10% 107s 1$106,121,405, i . 120 lbs. $7.30. - h ..106.21 106.21 106.21] Wieboldt Stor 8%. 8 1; ncluding cash on : Roughs, $6.75; stags, $5.50; calves, $11.50; ts HH 2 Mare eves 107.3 107.3 107.3 | Wisc. BkShrs Veteavane 9 _ 43 3; hand of $16,486,740, while current - TOPS YEAR AGO WEEK lambs, $9. ] 358 [04/43 oped LOS UM) Habilinits were $9,142,000 WASHINGTON: Feb. 15 (U. P) LAFAYETTE, Feb, 15 (0. P)_Hog Ves 1046-44 .........110.8 110.3 110.8 5. “Progress was made durin » . « £.).= market steady. 200-230 1b. [email protected]: : a 1954-44 sestheies 114.27 114.27 114.27 N 0. 1 year ar the ping ine Lumber activity in the week ended 330.2% sin $7. Tog. $1 50, 8 Tbs. . iiom 2%s jodi-42 riunenvis 101.24 107.24 307 2¢ of Goodyear’s productive facilities, »| Feb. 4 topped the year ago period down; rr a down; calves,” $10.50 3%8 1956-46 ...ce00.. ; . : . ¢ 3 . 4Y,s 1952-47 ..cevven. 119,12 119.12 119.12 the repor “ _|and made a favorable showing with | @11; lambs, ss. zs as. 2% J000 50 ue 10006 10008 file Your Federal bring ae g oul ues the preceding week, the Lumber Federal Farm Morigage Bonds I ncome ax additional oSoedyear factories in Mendtaciurers Association reported 38 1049-44 ......... 107.11 107.11 107.11 I Sweden and Brazil to share in their ay. Home Owners Loan Bonds expanding markets. Prospects for| Shipments and new business each 2s 1044-42 .........104.18 104.18 104.18 Jubite growth in both countries are ete Sper Cen, greater and produc. TOP WEEK BEFORE DOMESTIC. BONDS :. considered attractive.” on 5 per cent less tha e pre- { High Low Last Loss or Gain Is Not ceding week this year Sompared ! m TT 3%s 66 ........ 107% 107 with the corresponding 1938 week, B&O 1st 55 48 yille 81% Allowed on Stock HOLDS LABOR PEACE production, wag BS per sent higher, Rate. However. 19.4 Per Childs Co 5s 4 76 76 : and both shipments and new orders €, ’ . Cons Edis 3%s 58 106% 106% Exchanges. IS KEY T0 RECOVERY 15 per cent higher | Duquesne 3'2s 65 110% 110% : 5 I Duri h Kk 29 i1l n C tU d Y A Goodrich 4%s 56 ......100% 100 100% En uring the week 529 mills pro ent unaer year Ago. lm i i No gain or loss is rec- || CHICAGO, Feb. 15 (U. P)— ee ar oi oer Penn o : 382.....1. 100 100% 10044 ognize d for! income-tas Establishment of an “industrial | 181,210,000 feet produced by 549 NEW YORE: Feb. 1 (U. 2D = Rep Stl 52s 54 ..... ae ; democracy” in American business|mills in the previous week. Ship-|Business failures in the Unite Warner Breer 30 1 06% 95% osu|| purposes as a result of ||can make possible an annual na-|ments were 209,609,000 Teet com- | States in the week ended Feb. 9 FOREIGN BONDS . || tional income of 80 billion dollars or | pared with 204,176, eet and new advanced to 261 from 255 the pre- " High Low Last the exchang of stock or || more, C. M. Chester; chaitman of ers called for 207,127,000 feet| vious week but -were 19:4.per cent Argent ds 72 Feb ...... 18% 18 784 securities in a corpora- ||General Foods Corp, told the Compared with 200,394,000 feet. _ |below the: corresponding 1938 week Brazil 8s 4 qi pes 15%s 15% 15% |American Management | Association tal of 324, Dun & Bradstreet, Inc. Sider Ca aed get] tion solely for stock or polio, CHRYSLER EARNINGS |revesiea today: German Is 40 i: nl 227% 237% 327 securities in another cor- In an address. delivered before DE CLI NE IN 1 9 3 8 Failures with liabilities of $5000 Raly 185] 5.0 S3ia 66Ys 66% : : more than a thousand of the na- or more totaled 148 against 140 the ‘ mn : Tokyo 33s 65 ad 0 So 80% poration ursuance of tion’s leading industrial relations ’ preceding week and 185 a year ago. ————— a, plan of r organization executives and the: senior operating NEW YORK Feb, 15 (U, P| Canadian insolvenciss advanced LOCAL ISSUES to which both corpora- officers of prominent = companies, Directors of Chrysler Corp. today to 32 from 24 in the previous week : = Chester declared that improved rela- declared a dividend of $1 a share and 20 in the like 1938 period. The following quotations by the Indian-|| tions are parties or as a ||tions. between labor and manage-|Ocrared a —————— ‘apolis Bond & Share Corp. do not repre- 8€=!on the stock and reported earnings sent actual bids or *offerings, but merely |] 1t of th h f ment is the “Nurhbér 1 requirement” FOREIGN EXCHANGE Indicate the SDPIONIMAG market eco) result o exc ange o for a sound econo recov in for 1938 equivalent to $4.32 a share ’ based an, buying and selling quotations of || stock or securities in ‘a ||the United States ery sow pared with $11.66 in the pre-| new YORK, Feb. 15 (U. P)=Eillowine : . ee i ceding - year. are noon cable rates on 2 or currencies: Stocks Bid Ask “In spite of - paralyzing tax Cab Rates Net Chge. Auto Invest COrp ............ oy corporation solely for burdens and worldwide economic end Na De ig on he Cy Wg RL 15:16 00 3-16 Belt RR & Stock ¥ds com... 81 84 || stock or securities in the ||disorders” he said, “we still can|the final quarter a disbursement of [Canada (dolar) --... BE Gont Ind Power 1% Pid 0. #% i7%|| same corporation in’ con- Tosrealn Fetavesy here ‘at home|$135. a share was voted bringing Italy (ira) ........ 0318% ieeree: o ough self improvement.” the 1938 nts, including 25 Belgium (belga) .... : Hook Drugs Inc som Ciaviianis 11 13 e payments, cluaing Zo Ind & Mach 7% ptd ... 5... 108% . . nection with a recapitali- cents in the third quarter and 50|G¢rmany (mark 4 Indpls Water Co 5% +108 rs 2s ’ ! Germany (travel mrk) Ind Hydro-Electric %,pd pd. és || zation, Where Money: or - 1.:S. STATEMENT |cenis:in the second quarter, to $3|Swilzeriand gr c).. Indpls Gas ere : 3 = a share. The latest dividend is|SFeden (krona) ».... 2 Tadpls Fob 7%. pl pid rite, br other property is re- WASHINGTON, Feb. 15 (U. P.).—Gov-|payable March 14 to stockholders |Norway (krone) Indpls Water Co ts fd ....103 Lo ceived : along with such Srment Sspensts. through Fon. 1 for the|of record Feb. 24. Denmark (krone) '.. Lincoln Nat Life Ins Co com.. 24% 39% g ipa » ¢9m=| Consolidated net profit NOAT DD( pr re 10s Co fom, . 24 2 pared with a ‘vear ago: onsolida net profit for 1938 LOCAL PR DUCE N Ind Pub Service 67% pfd ... 84 7 exchanges, no loss is rec- Expenses 85 sThis Year 9 HE gs due tot was reported at $18,798,924 after all N Ind Pub Service 7% tfd ... 92a 95% 0 ized 1th h ta Receipts .. 3,527,455,014.48 3,730, 351K charges and taxes compared with | Heavy breed hens, 14c; heavy breed Prtgress Loupdiy Oo'em - T3 11°|l ognized, although a tax- Gross Det’. 2.083.756.391.03 "834, 473.96138| $50,729,211 in 1937 and with $62 Sie ajc toe. gud Svar Tao Bene wader ‘0 . 2 ’ Pub Service Co of Ind 6% pfd. 28 81 able gain may result. ||can Bai’: irae 315.00 a "35%" 311.181110,543, or $14.25 in the record year |white Rock springers, 11} lbs. and over, £9. 3nd OSE 43% pic om 25% 332 Th Work Bal . 2,493,729,096.19 1.235.105.169.79 | 1936. 13c; colored Springers, 1¥ 1% 1bs. and up, 12¢; jE Be fi if || The statute also pro- |\fw, pe wistuesss: yess roi alc 2 Po. a" 15; od Van Camp Milk Co com ..... 10 11%|| hibits the deduction for ||cusioms 108,728,107.45 '250,761,805.12| FOOD PRICES TO foiy: fresh coun! sy-rum eggs, Me; Bonds any loss from the sale or INDIANAPOLIS CLEARING HOUSE | CHICAGO, Feb. 15 (U. P.). — Apples —| “Ch Sil case must welit 5¢ log. gross! Amer Loan 5s 46 .. 100 Clearing: «cooeieerassvnnen $4,219,000 | Michigan Mackintosh, [email protected]. Sweet under 54 1bs. wi be madi.) Citizens Ind Tel 4ids 61 102 105 || other disposition’ of stock ||Debits r..iisitiii: nn Potatoes—Tennessee, bil, ,aampers, $1106. | phe. dats Nye, 25@36c; . i , bu, inach— | butterfat, No. c. | Home T&T Ft W 3 105 » -— Ind sto, Tel 0% G8 .--..1.. Hoga Lou or securities where the ||orpER STOCK ARYANIZATION: |E2*"s ki t06rc, Tomsion cpiority |” roe nied by dley’Ca) __ Bnd a a 7 g 4%» || taxpayer, within'a period * || BERLIN, Feb. 15 (U. B)— The |S Bsa celery Michigan,’ Bam. | dpls Water 3%5% 68 v....:108 101 of 30 days before or after ||Ministry of Economics today pub- a Riinols” ae Sea Inter Tel & Tel 5% 8 ve. 80 100 ‘{|lished a decree ordering the “aryan- Yellows, 90c \sconsin. Yellows @ Kokomo Water Wks & yh 202 coal the date of sale or other |lization” of all Jewish majority |8c; Idaho Sweet Spanish. 830ml. stock holdin AR Mince Swat r Wis 3% 3% 65. 0a 1 disposition, acquires oF Voluntary sale of Jewish real BE 1 Susie ] ohlo-"Tel ‘Co i Toa 10d" enters into a contract or stats Rd securities was ‘encour- RIGLUSIVE 20% SruRy c Te 0 t e N Richmond, Water. Wks 5% 49. 105% 108 option to acquire sub- Seed, ut the decree stipulated that # ER xo Wm on rs Seymour Water Wks 5%. 4 103 the prices should be more or less = COMPLETE MAILINGS | 7 T Haute Water Wks 3% : ; “stantially, identical stock A {within the normal price scale to| | } MuLTIGRAPHING Tract Ter ) BY. sav 4 vent Jews from becomin blic| HY EA Market St Invesimeni Corp 23.423 ==OF securities; i |{eharges \ ng also. to ne : ra i ya

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‘TONIGHT 7:30—Tommy Dorsey, WIRE. 7:30—Paul Whiteman, WFBM. 8:00—Fred Allen, WIRE. 8:00—Star Theater, WFBM.

Veterans of Forei i Vrs wil or | tend their annual greetings to America in their “Hello” program at 10:30 tonight, NBC-WIRE, with addresses skedded ‘for Eugene I. Van Antwerp, V. P. ‘W: commander-in-chief; Senator Clark (D. Mo.), Governor Saltonstall of Massachusetts, M. J. Tébin, Mayor of Boston, and Anna Mae Lochner, national auxiliary head. The program, linking New York, Chicago, Boston, Warren, O., and Cedar Grove, N. J., will include music by ‘Larry Clinton, Gray Gordon and their orchestras ang the V. F. Ww. band. 2 8 a George Raft and Gloria Dickson are billed for the “Star Theater” at 8 o'clock tonight, CBS-WFBM, in a specially written dramatic sketch, “Twice Around. the Clock.” .The regulars of the show includes M. C. Ken Murray, Frances Langford, Kenny Baker, Charlie Ruggles, Ned Sparks and Jimmy Wallington, with musical interludes by the Charlie Henderson chorus and David Broekman's orchestra.

8 8 8

In an attempt to ‘pull himself tggether, musically, -Fred Allen will interview: Herman Krauser, the NBC piano tuner, as his “person you didn’t expect to meet” at 8 tonight, NBC-WIRE, before attempting a fling at grand opera. ; Mr. A. will sing the leading role in “Death Under the Proscenium”

|certo in E Flat.

Great Britain's position in inters national politics will be at 5:30 this afternoon, NBC-Red, by S. K. Ratcliffe, British jo lecturer and world affairs authority. Mr. Ratcliffe has returned to Amers ica for his 25th year of Moving,

Featured soloist with the Roches-

ter Philharmonic Orchestra in its concert to be broadcast at 2:15p. m, tomorrow, NBC-Blue, will be Winie

fred Christie of Moor Piano fame, Incidentally, the Meor Piano is a =

double keyboard instrument. Miss Christie will play Liszt's Piano ConJose Iturbi will

conducts . =»

Paul Whiteman's program at 7:30 CBS-WFBM, will come

tonight, from the Tulane University Mardi Gras Ball, a high spot of Mr. White< man’s road tour. Three native sons, Al and Frank Gallodore and Sal Franzella, all saxophonists, will play Jimmy Dorsey’s “Beebe.” And, of course, Joan Edwards and Clark Dennis, vocalists, will do their parts,

Hoagy Carmichael, one-time sti«

dent and nowalmost a tradition on the Indiana University campus, will

be Tommy Dorsey's guest at 7:30 tonight, NBC-WIRE in a program of all Carmichael hit tunes but one. The “one” is “Davenport Blues” which the Dorsey orchestra was recording about 15 years ago when Hoagy happened in between chore uses and played his first ideas of “Washboard Blues” and “Stardust.” “Davenport Blues” was written by the famed “young man with a horn,” Bix Beiderbecke who was 8 member of the Dorsey outfit at that

or Caruso Shall Not Swing To-'time. ® o ® 8 THIS EVENING (The Indianapolis Times aouncements I by AP RR Jssenrasin = wrernam. ane INDIANAPOLIS IND NaroLs “cifitago CINCINNATI (CRS Net.) (NBS-MBS) (MBS Net.) (NBS-MBS) 4:00 Navy Band 1. U. Progr: 4:15 Tea Tunes Interviews =m aa Family ene Pirates 4:30 pia, ome Edition Texas Lewis ‘Jack Armstrong 4:45 Jnannounced Your English Paul Sullivan 5:00 Wheeler Mission ° Lone Ranger Hits of Toda Don Winslow ys Bate Wine an Dik Trane er a piriles Rollins por 3 re 3 m a x 5:45 Sophie Tucker Highway Dept. Orphan Ane Lowell homes 6:00 News E » i RN +3 o alter ea Tr . . 6:48 Whe : Air Newspaper Inside Spor ts’ Toetdy. nts 2:00 Gang Busters = Man's in n R an's Family od Heideibore Map's Family E10 Whiteman’s Or. '. Dorgev’s Or. Long Ranger Dorgev’y Or. 3:00 Star Theater Fred Allen ' Green Hornet Fred Allen 8:30 " ” ”» » 9, » Cn 8:45 ww» “ie : Somtrovs Trib. w 2:00 Edgar Guest Kay Kyser _ Fagious, Trials Eay, Kyser . 1} "» ust Musical Weekly Noa Mugie Counter Rh 0:00 News ; ey SE ls Baws or. . Nem Americs Lombardo's or. EE : . ae 0 rica . Jurgen’s Or. 0:45 tes a TE : : ' “Carlsen’s Or. ello Atieries 1:00 | Or. Pe 8h v's . "8. Kaye’ 0) 8d ” 1:18 Sat enon santos . tlivs, or faxes Or id 1:30 - Ramon’s Or. Lights Out Jurgen’s Or. Review 1:45 ie oy, By Lucas: - or, ~ THURSDAY PROGRAMS INDIANAPOLIS INDIANAPOLIS INDIANAPOLI . BM 1 3 IRE 1400 (WIBRO 10561° CRW aa? ; (CRS -Net) (NBS-MRS) (NRS MBS) 6:30 Early Birds Devotions Tabernacle’ slen 6:45 ny Markets o hy ie 30,20 7:00 we Time Has C kf; ; iia ; . 5 ins ome BreH # Jam Sime t Shine 330 ‘ »n » » » Lo» » Chue Wagon 8:00 Organ Ni . Coffee Cups P 8:15 Montana Slim Dessa Byrd Presenting. Myrt An 8:30 . Serenade ~ Rabv Rulletin Top ote ers Hilltop House 8:45 Apron Strings - Breakfast Club Devo Gospel Singer 9:00 .. Kitty . Central Cit Ka ou - Wheel 9:15 = Farrelity, hon | Other wife ~ % ; " salty Human : Sha Arovag 9:30 n Plain Bill Matinee - Ee 9:45 Stepmothep’ a Woman in White no. The. Gol berg 10:00 Mary Tavier. David Harum New Linda's L 10:15 - Scattergoo Lorenzo Jones Maines Vie 2's ade 10:30 Biz Sister Widdow Brown Musk Peter Groans 10:45 Life Stories Editor’s Daughter N. Shilcrat’s Or. Road of Life 11:00 . To town Singin' 8 Prim; Rhythmi tor’ hi 11:15 Rowe oN 3 Linda's fore No on Rhvt re es Edit i 0'Ne Bese te 11:30 Farm Circle +“ Dr. Malone Charlie Cook New ws - 11:45 ... Farm Hour Bov Greets Girl Farm Hour 12:00 Farm Buresu. uo. Back Home » Bn Nr or pen BE rer Bigs Baler” FO Har :30 :. Voice ar ¥ eporter Sleepy Hollow ords u 12:45 Holiday sa Hill-billies y rep appv Gilmans. FOB Be Sth Dues Sint Bite +15 r. Susan uczhte; ropic Moods rimm’s Da 1:30 Al Sehool ant. Bader Tren brinds Valiomt® tadv 1:45 Church aa ' Hall Or. Hymns 2:00 Army Band Palmer House Charles Thomas Mary Marlin 2:15 ” . Progress Parade Shytimakers in Perkins 2:30 Keyband Concert * Concert , Hour per Youn ne. 2:45 Ross Lockridge Guiding Ligh | 3:00 Lebrun Sisters * Backstage ite Swing Concert Mad JAatterteldy 3:15 Varie etiep Stella Dal Paul Krauss 8:30. Vio & Sade Old Refrains Beantital lie 8:45 ' Clniman ol Alone Honolulu Kitty Keen 4:00 ig oh House U. Program Legislature Hannah 4:15 Tea T tos mble Zazoozologv Jamboree 4:30 Hom Edition Stadio Barty Jack Armetrong 4:45 "i. Piano Music Paul Sullivan

NBC-RED—WEAF, 660; WTAM, 107

KEY NETWORR STATIONS (Subject to Shanze)t NBO-BLUE—WJZ, 760; WOWO, 1160; WENR-WLS, 870; KWK, 1350.

0; WWJ, 920; WMAQ, 670.

CBS—WABC, 860; WJR, 750; WHAS, 820: KMOX, 1090; WBBM. 770. MUTUAL—WOR, 710; WHK, 1390; WHKC, 640; CKLW, 1030; WSM, 850,

CROSSWORD PUZZLE

HORIZON:AL ~~ Amswer to Previous Puzmale 15 He succeeded Pictured RTATTENITINE]E Soa naturalist. A ML INIOBRDIOWIE [12 and fruits: CID SIC OVIEIT MATT 93 Frogs. 12 Root edge. ASSIMOLAIRMREGUN| 5) "caster BViol NERS! | PILE RIE ks wg * instrument. TID} [DIC] a EIS] 24 Epoc 14 To harvest. EAT 15 OMEIR! 25 Heave, 16 Christmas, NIA SITINEWS] 26 Beam. Yi arabiom " WK or ne; bi 27 Deer. J . | () 18 Masculine, 5 it Te UD! 28 To emulate, annoys. < oca D0 TO SIT HERTALIT TRY oonaition, ‘ runs away. 44 Oak. 4 Always. Measure 22 Russian ruler. 45 Charts. 5 Verse, 8 Meas st 23 Thins, 47,Strong taste, 6 African 87 Fruit, 0 recover. farmer. 29 To pester, 48 Work of skill. 7 Rubber tree, 38 Saucy. 30 Paid 3 publicity. 50 Before. 8 Most 39 Spain. 31 Small 51 To deposit. uncommon. 40 Feather bart, memorial. 52 He was a Army drill ¢) Toilet case. 32 Fifth month, world-famous halls. "42 Door ; Ll a lant, 43 Form of “a> gra a ep drawing. VERTICAL 12 He conducted 46 Rumanian 85 Surfaces. 1 Crippled. countless coin. 40 Horseback ~~ 2Pulpy fruits, =~ ——s with 49 Musical note vider. 3 Trial. plants. S1Pair. | J 1 \

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