Indianapolis Times, Indianapolis, Marion County, 2 March 1939 — Page 24

nN

4

XZ

RAT

as a point. Industrials steadied. whe net | POW-JONES STOCK AVERAGES U. S. Government obligations High Low Last Change 80 INDUSTRIALS were quiet and narrowly irregular. |agams mir .... 23% 3s% 23% + 9s Yesterdsy ......... covsesses 147.156 —0.15 © Curb Stock Range Narrow Allegh {orp ail a5 2 gf litt | Week ARS ....iiiiiiersennes 142.98 40.29. ~Curb stocks moved in.a nary it Chal : i3% isn ive — 1% Mouth Bev. ceases gd 119 Am Chain we s : als — 18 BAF ARO caiiiiiinsenessees w—]. pe rang Rater a0 G1) Am Enc Til ... 4% ds Se — [3] igh, 1989, 154.85; low, 136.42, All sections of the list came in|Am P&L 6 pf 477 47% fis — 3 High, | 1938, BEE ss for a greater’ distribution of minus {am Rad & Ss.. 18% 1&4 li — a Tectorday .. 32.45 ~0403 signs than ‘plus signs. Am Doll Mus : 3 332 30 T ii] Week Axo ... 20.83 +0.22 Widest price change in the in-|am Sugar nf 557 85% Jot = 1%s| Month Age .... 30.20 0.82 dustrial group was a 2-point gain|Am [T&F .-..- 158.3 8% 6% — U|Yesr Ago 20.26 ~—0.35 in Bell Aircraft to 30. Other air- Am Water w a37a 3 130s La + | Righ, 1939, 34.33; law, 27.93. 3 i Q NC sieves 2 /8 : 00. craft issues were little changed.|3m “RC i---- 2012 297% 2072 i High, 1938, S08 low, 2.3 Niles Bement Pond, American Cy- Atchison pt .. 65% 65% 65% + Ys anamid “B,” and Technicolor were [Atl Refining .. 22 22 2 aes Yeslerday .....d:.iqeovencens 25.88 ..... among leading industrials 10 SHOW |g poco ct. 15 13 15 = | Month Ako Looiiiiiiiirr MAD FOMS small losses. Balt & Shis . 3 3 ov tr (Year ARS ..... iduhadheinis 10.50 —0.20 . a : -— 9g P In the utility section Electric\ BRL 2. P° ': 1638. 16% _16% + | Bich, 1939, 25.85; low. 22.30. Bond & Share common and United |Bayuk Cig ..... 20% 20% 20% + High, 1938, 25.19; low, 15.14. 1 6“ e X vn 8 i -— 4 (o— Light & Power “A” dipped slightly, (Bendix Avn ... 21 = 20% 321 — 3 but United Gas and Niagara Hud- Beth Sal 8 of. 11% 17% 10% + High Low Last Chewze|l son Power held steady. Lake Shore |Bigelow San.... ster [Mont Ward .. 51% (51% b6lY%a = % ; 3 Boeing Air 30% 30% 30% — gained % point to 47 among metals. Borden hii 20% 2054 20% - 7 ee ip > E e rass.. sees sh-KelV ss40 eves Oils were neglected. | ~ | rie: & Sirs 31% 31% 31% Fi Nat dome [UI uh un ui =n - > o 2 a SC “ee nM Gass. 189, 18% 18% .... |Nat Cash Rek.. 23% 23% 23% — Is 3udd Wheel ow 4% 4% 4% ee. Nel Dai 5° 40 40 Lin < ois a p os / “lus 43 ; Dist, ..... 21% (31% .31% — % | Callahan Zinc.. 1% 1% 1% + % ol Te 23%: | 23 23% — In Calumet & 7 1, yy: TriINY Sentral, . 19% (19% 19% — 3% Canada Dry ... 18% 18% 18% ... NYC&St L pt 34 34 31 1 SALES HIGHER iid St 8 5 Sa gli t 8 8 Zo foes 8 8 BB. Y ip .; -— Ya Celotex pf |..... 71 71 1 +1 IN 3 Shi f.. 88 88 8 Cerro de Pasco an 4212 41 — JA/Nort & Hoag 13 1m a es & Ohi 31% 37% 3a — “AIN Amer ...... 25% (25% | 206% — Ys CM S P&P oF t 7s 78 a sireg N Am AVR sess 18 18.1 13 - Vg . ; yet Co! a 2 a in - i N Pac ceees 12% | 12Ys| 12Yp — Ya Gain ver Year Ago of 37 cocacoin A..68 & & F LI 0 OT, 1 2 olumn “ed RAR is Ge CUFeeeee J 1 sven i Column Gas. 8, hv 51% — 15 OU Elev rerio dsn 2% 43% % Per Cent Reported; Com Iny 31% 31% 51% + ne ’ Com Solv ..... 12% 12% 1% 0 lp amp |v Com & 1% 1% 1% e.en P mn sree 14 da a oxy Under December. Cong Nairn ©... 8% 28a 28% + MEER AMA oer (PA foe 10% = ons Edison _.. 33% 43% gia Pathe Fim 9% | 9s 9% + a —— Cons Film p a 3; 83, I+ 'ylPenn RR ...,.. 22% (284s 22Ys — Ya Cons Ol". ; 3% 933: oosi T o|Pheips Dodg i... 39% 30% 39% — bs NEW YORK, March 2 (U. P.).— Cont Ph pt. 91s 3914 391, - 5% phi Eas RL 101%; 10112 — 3 January retail sales of passenger |Cont Mot ..... 3% 3! a ven} Phe. 86 vee 3 2 Sv es cars and trucks aggregated 217,706 Sant Oil Del .. 36s 3%p 202 ty, |Proct & GiI118 187 118% = % units, a gain of 37 per cent over the Crucible St... 41% dll 41% — Amadou Bn Be Bh - % year 850 Monin, bi; 2 Ssajona) Se. Cub am ab. nl em un . . Rt cline o per cent from December -—D— adio .......... 2 Te Ta... . the Automobile Manufacturers As- Davison Chem . 6% 6% 8% — 3 oie Boa a a fh tT 2 : : Lee les 8 _—— / sociation reported today. Pome Mines ... 33: 32 32° -— 7 Rem Rand pt. + 94% " wa +. 3 Last month’s sales included 180,-|Douglas Afr ... 71 E n Ti os Republic sg aie (21% 21 — ff \ . 30 39 9 v, 598 passenger cars and 37,198 East Kodax of. 171% 181% 181%: + 3 Rich field oily. Tove 9% 9% + trucks. Sales of passenger Cars Elec Auto L S33 33/2 3 — "3 | Ritter Dent ... 8 8 <=''1 u ,|Elec P & ~o 11Y Vs 111Y3 =~ 8 mS were 43 per cent above am AY, | 51° % I. 87 of 38 38° — %lsateway ....... 31% [3h IH = ¥ 1938, but 25 per cent ow Seon Ei Paso NG. 3% 31% 3%... ||Benite RL. ts | 5 5, * les were r cent |Erie 2 pt ...... s s 4% ..:: |Schulte pf 7 3 Yh ber. Truck sales oe Evans rod 11 un, 1 = Yi Scots ab. 485% 48% ag > ahead of a year ago and 3.2 Der |Ex-cell-o ...... 31% 31% 31% = % Sears Roe .... Tle 13% 1313 + 14 cent above December, a Rervel INC. i.e 17% 17% 17% —-— 1g Revised totals for the year 1038 Fed Screw .... 3% 8} 3% -.-. |gnoi’Y SK a a . were reported at 4,957,350 passenger |Fed De d Dep St cvpf 89% 89% 89% .... Sloss Shel pf. a % 104% 104% k mbined {Food M cucvpf.105 05 106 + % BC -eaees 342 12%, 12'2 .... f cars-and 386,305 trucks, a co Freept-Sulphur. 23% 23% 23% .... |So.Cal Fa...... 26% (26Vs 26% + "3 total of 2,343,655, Ge outh Fac "lll 18a 184 18% = QUULIL IVY seven % — January factory sales to the do-|gen Foods... . 407 do 0% — Jo Soup Kv br. 3gn 20 dg ~ . —; 78 I10PaIqINE ...... ces mestic market totaled pL cars Gen Qut Adv . 57 Ri 2% seen parks Jrith ; e RK] 8 3 S a in- |Gen rac . — Ys|Sperry-Cor . } — 1 and trucks, which “reflects an 1 (Gen St GTot. 21% 21% 20% Fda Diesel tne oo. 147% [19% 19 = 2 erease in field stocks” of 3:8 Gen (T&R. 2 2% 35 — % Square-D pe 28% 28% 28% — 4 ; / cere Cal .... 28} 28%, 28Y, + Ys ‘units, the association declare Goebel Brew .. 272 2: 3% .... |IStd Ou'N J..0; 2914 [alk doi 1 istribution by manufacturers Goodrich | 5° 7m 22° UU HE OPoalr fe ee WB IT 18 y Goodyear ...... 34% 34% 34Ys — Yi |Stew-War 10% (1 ” 10% 2 since the start of the rad Ta - Grand Un pr 14 1 : TF % Sion: wes 1 10% fo... or vil — udeba eels oes son 3 LR more [GF West Sug... 26% 26% 26%..." |Sun Oil WL 0% 00% 60% Sw uni ug ni.. “eve pe ee 20 19% 19% — Li _ than 77 per cent, have already been |Grevhd Cp .... wn D2 HB = Ba Bu WE delivered to retail purchasers. —H— Inia Av, Ry... 2% nh + "Y ——e eee Houston Oil ... 67% 67% &% ..... Te ont dha 1 Ys it 1 i ll ds Howe Sound ves 53 : 53 63 + %|Twin Beach «0% 1 i 10% — % 'N. On S Ill Cent ral : 18 18 8 weds -— . ’ Inspiration Cop’ 13% 18% 14%, I sl U Unien, SEED .- - & f0114 - hy \ nter RT ..... 8 5) 8) BOND PRICE INDEXES Int Harvester.. 61% - 61Y 6114 — a gn Aircraft ©p p. 3 19h : . 1202 + 1 20 20 80 |In 11Y; iy — 3% : i { 2 Utils. Bonds |INt P & Poof. 434 431k 434 = %|Onia corm... I Man + 4 Inds. Rails 8. NES Imt T&T .... 9% 9% 9% + Ya|United Co pf... 37% 37% 3 nr - % Yesterday 869 6&7 101.6 831i T&L TFor. 9% 9% 9% + Ya|United Drug To ia pn Week AO ....- 86.5 58.8 100.9 82.1 -_—K— . BE Bl You 2 h % ; 7 tw th Ago .... 86.3 58.6 100.1 817! gennecott ... % 31% 3% — |g 14 rn Tor age. sz 646 936 79.8|Kinnsy 5 vf... lan BE Wd TF 4 g BR, 5 Bie 0 % nin 2 Years Ago.... 94.5 99.8 1047 99.8 lL . 7|T 8 Ind Ale" 2 % 3% 2% a 1039 High ..... 869 61.8 1016 83.1|Leh P Cem..... 3, 2, #B, FEES ib = : Ho 89 1% Tn 1939 L . 858 568 991 seeiehman _.... 23% 2 F YilUSRub 1 pf 208° 108% 108% + 3p 1938 High L873 70.0 89.7 83.0|f Inc J... 9% 9% % i... LU 8 Steel ..... 62% 62% 62% — 1p 1038 LOW ...... 749 . 47.9 813 50% Tone Star Cem 1] Rls 55% a bo Vim 1937 High "e560 101.2 1060 10oy|lorillard ..... 2s 20s Hip + Glve-cdrept.... 2% MU 2% ... ; 2.3 . 81.1 — We I les lez 100.2 Men 21 mad 2td Sm vhs 8% + % Warren ar... 2 Tas 2 — 1936 Low ...... 90.0 - $4.1 1085 , 933|Marine Mid. 47a 4%] Ri ~ i Waren F&F. ih Bin Nh — . / -— /8 Q Qi [7 1’ (Copyright, 1939. Standard Statistics Co.) Nelntyre Je s6%4 B24 562d T 0 Wes Ol & 8 : 8% 33% Bu I % C S! cee 8 “siete : Uv. 8. Sa BONDS dor Fox ;: el ty Pu REeN 3 8 8 I 4 peasy onds 0- ex 1 2 itty | West Auto Sup’. 20% 29% 297 Mo Pac pf .... 1% 1% 1% — %| west Unlo BE BE BA, Cake ‘ 4 33s 194341 March . Willys Overland 3% [2% jz | Woolworth +... 49 487 49 i 8 LOCAL ISSUES TAs Wt Tn 8las ¥ 314s The Jollowire Hotations by the Indiané| Yellow Tr .... 18% 187% 18% + % Ya apolis Bond & ‘do net repre- ttt lt itt seis Bi a : XC : e approximate rk FOREIGN BONDS Last based. on buying’ "snd selling quotations of FOREIGN EXCHAN GE . recent (ransSac NEW K, March { P.).— - Justralla, bs 57 Tere reel : 5 I "Stocks .Bid Ask| ing are Yoh cable ra 31%, dyelieyBrazil 6'%5 27- 57 sane 1s his Ji Auto Ives soup Sa bo! ot - rencies: Chble Net Canada 5s 52 cesses 110% a 4 |B 0c. s com .. os MT lili. ss" 58°" "55 |Belt R R'& Stock noid ....... ? a: tes Change ba rs ad tt BOB EL ESS : Bw 331; | England (pound) i * 10% 000 Denmark 4735.82 con % 20 30 |Home T&T Pt Wayne 1%... 53 84 | Eng. (60-d. dss — 50% sennese 0 . 3 0 Tal Hs 5 $90 , 41, 64%: 64Y ook Drugs Inc com ........ ‘1 Canada re 99 19-32 ,.., Jovan 6%s 54... Mii. 012 7meiy 79% Ind Gen derv 60, nid... 10 % i... France (rane) +00 . Dassle +s 1 1 Rn cn 1% nia ,..., soe LUC vee ee 0 YE PE ay Le HA 1 TA 102s, | dois Water 8% "pra ii"! | poo 18eidium (helen) ] 913 I i ah Adams Exp 4s 48 1.iil0 10290 1029 103% |-Ind. Hydro-Blectric 1% bid | ‘90 (Germany . (mark), | 0134 Am TOT Sus se 1ILLA0E 10 07 \Indly, Gag, Ca ignine Bh au Suites (ham) # [iT Beth Stl 3%s 52 ......101% 101% 101% |'Indpls P&L 612% Tp 104 | 1p7 |Hollend (guilder) ., . 8% 1111 Can Pac 415s 46 ...... 99% 99% 99 Lincoln Nat Li e Ins Co com.. 28 | Bh weden (ff (krona) BAL =.0001 5 u v . » sssesne gh Br Sus. 3%. mu 28..|N 1nd Pub eg 9 87 | Denmark (pone. 12003 reese = Bor con on 4s 08 .. 1300k i) 138% Eroftess ‘Laundry Cb com!!! 7 | 28 : Cen cn 4s ooo 09%; 88% a 3 Par Pict 6s 55 Lo bh 0 ot Ind 67% pid.. ( 33 BAR ly lf EREn gt 8 § (DAILY PRICE INDEX n U 8 94 ...... i n : | | CRRIRER RE OE BRN Mg A to Re ER e Wa BS 3 74%, 74% |T Haute Ejec “o pfd ..... | un & Bradstreet’s daily weighte Ik Co... -.0 0 | "62 x 2 4 ; Warner Bi 6s 3... 68% 98" sa Yan Camp MIE eS%om: i120 10 | 11% price index of 30 basic commodities, he Bonds i . compiled for United Press (1930-32 ; Amer a. ....: iin rh le (0 saraan | % 2Yuals 3 00) SEE FINAL EDITION Crabbe Re Il aylor 58 42. ester EY so0cc00eccecssncenes ,106.24 . me T&T Ft W (5% 68...... 1 5 | Week ago 105.94 |# : Home T&T Ft 6% 43...... 104 | 106 ag! 000000000000 0000 00 OF THE TIMES d Asso Tel 6% 65......,..-103% | 1074} MOND 880 ...0cuvereerenees 108.48 nd Tel Co 5% 60 ........... | Yesr ago 113.89 Indpils ailways on 67 ve : g esses isecse00000000D o FOR Indpls ater "os Lessa 1 o ign 1939 high (March 1) eseescoon .106.24 ter Tel & Tel Ee 5 2% 104% (1939 low (Feb) ..............104.63 OTHER LATE NEWS Er 1a Bir 0 8 Es 30 50. . & 11% tice ; — : Munc Wolter! 4 i 5% 8.0. Jog Gs Colonial Thrifty Savings Ace AND Soniesrille Jar Wes 1... % 106°|| counts are Insured by GovSubite Tel Gs Ave, 85000 100 ernment Agcy. up to $5,000. . Eichm ks 5 103 A CLOSING STOCK g FEES, LE $1 i 0 i I Savings & Loan || QUOTATIONS : ve || MEMBEL sAvINGS & LOAN || A puss Se Le RAR Eh Sa ddid SR CR 5 :

N.Y. STOCK LIST "FAILS TO SHOW ~ DEFINITE TREND

Pivotal Shares Slip as i Prominent Issues Make

Ogi. |

NEW YORK, March 2 (U. P).— Stocks failed to develop a definite trend today, pivotal shares slipping moderately, while less prominent issues moved forward on speculative demand. Trading was quiet. U. S. Steel, Bethlehem, Chrysler and General Motors all had small losses around niidsession, while most rails and utilities hovered narrowly around the previous closing levels. Caterpillar Tractor, - AT.&T, Adams-Millis.” Eastern Air Lines, Greyhound Corp., |. S. Rubber preferred, Howe Sound and New York Shipbuilding preferred, however, moved up to new 1939 highs on gains ranging from minor fractions to 2 paints in the last n named issue. Aviation shares’ loped slightly firmer tone. Bond trade Active "Irregular price trends marked a moderately active trade on the list-

- ed bond market.

Domestic corporation liens got off to a relatively firm start, but backed down from their highs early in the first hour and turned irregular. Brooklyn City. Railroad 5s of 1941 advanced to a new high at 64, up 8, extending the 6-point rise recorded yesterday. BrooklynManhattan Transit 4%s gained fractionally at the opening but reacted to show a net loss of more than a point while other local traction issues lost part of the modest opening gains. Power and light company bonds were narrowly mixed. Rails weak-

ened after a firm opening and|-

edged off to net losses of as much

THURSDAY, MARCH

7] (1) in the taxpayer’s trade, business, or profession; (2)

al

No. 28

Your F ederal Theome Tox

Losses Are Deductible Only to Extent They Are Not Compensated hy Insurance.

8 # 8 2 8 = Deduction For Losses

Deduction for fossel are divided into four classes, and to be allowed must follow closely the wording of ‘the income-tax law.nLosses are deductible if incurred

in any transaction entered into for profit; (3) from fires, storms, shipwrecks, or other casualties, or from ‘theft; and {4) from wagering transactions. Business losses result, usually, from the purchase and sale of merchandise. Such losses usually are acertaified by means of inventories, which are required - whenever in the opinion of the Commissioner of Internal Revenue their use is necessary to determine the income of any taxpayer.

The term “transaction entered into for profit” means any kind of business proposition. For example a taxpayer purchases an automobile to be used solely for business purposes, and which is sold at a loss. As this is a business proposition from start to finish, the loss is deductible, subject to the limitations of section 117. But if he had purchased the automobile to be used pleasure or convenience, the deduction would not be alloyed; it was not a transaction entered into for profit.

v

2 =» =» 8 8 =

A loss sustained in the theft of an automobile purchased for pleasure or convenience is deductible, as it falls in class 3. If, because of faulty driving byt not of ‘wilful negligence,” an automobile maintained for pleasure is damaged, the taxpayer may claim the loss sustained, as it comes within the meaning of the word “casualty.” Where damages result from the faulty driving of an automobile with which the automobile of the taxpayer collides, the. loss occasioned the taxpayer likewise is deductible. Losses from wagering transactions, whether legal or illegal, are deductible on to the extent of gains from such transactions. The excess of such losses over the gains is not deductible:

not compensated for by insurance or otherwise. Deductible capital losses are further subject to the limitations of section 117.

IWHEAT PRICES

All = deductible only to the extent to which they are

N.Y. STOCKS

. 8y United Press

DIP FRACTIONS:

Sag Follows Easier Trend At Liverpool; Demand Indifferent.

CHICAGO, March 2 (U. P.).— Wheat prices sagged fracticnally on the Chicago Board of Trade, today, reflecting an easier Liverpool market. : At the end of the first hour of trading wheat was off % to 1% cent, and oats % cent lower. Scattered selling at the opening forced wheat prices lower. Offerings were sufficient to hold the market at fractionally lower levels in the face of indifferent ‘demand. Liverpool closed 1 to % cent lower due mainly to further deliveries on March contracts. Better inquiry for Argentine wheat was a steadying factor, Winnipeg held close to previous closing levels. North American export business was reported to be slow. Export circles felt there might be some increase inj European demand after completion = of the ArgentineSpanish wheat deal. Rumania was also reported to be negotiating a sale of wheat to Spain. The United Kingdom purchased a cargo of Australian wheat. The weather map showed generally clear weather in the Scuthwest. The forecast was for unsettled conditionsin the north central grain belt states except Kansas.

selling at the opening, and rallies brought out increased offerings. Moderate demand for American Corn was reported at Liverpool. Local receipts were estimated at 80 cars.

CHICAGO GRAIN

Opening prices today on the Chi-

cago Board of Trade, as reported by Thomson & McKinnon, were: Whea May July Sept. 3. ro. 683 $.687% $.695% rn: 49% [email protected]% 513% Oats— ,291% ieee Saves sae cose Te 5a : 4612s A788 aAsked.

LIVERPOOL WHEAT

Slo March olds 30. oi $0.6 81% 5. a5 $0. En Marc 50%, .59% 58%

May. Pid [631 ‘83 " 183% 63% Vay, new .. Slo 6135 1 .81% July ........ 63% .627 62% 1637s WAGON WHEAT 1 5. Brain ei elevators are paying for No. other grades on their merits. Gash corn, new No. 2 vellow, 43c. Oats,

SWINE PRICES. DIP 10 CENTS

Top Declines to $8.20 asi

Vealers Hold to Top Of $11.50.

Lighter demand for hogs at Indianapolis today brought a 10-cent|?

®ldip in weights scaling over 160

pounds, while lighter weights held steady, according to the Bureau of Agricultural Economics. Top price fell to $8.20 for 200 to 210-pounders. Vealer prices were steady with yesterday's levels, the top holding

* (to $11.50.

Small supplies of lambs sold to a steady outlet, a top of $9 going to a deck of good 91-pound fed Westerp lambs.

CORN ALSO OFF

Corn prices reacted on moderate

[Reduction in Planned by N. Y. Board; Chicago Pit Costs Slashed

\ tore In |the Metropolitan Opera Saturday

fafternoon, will be given at 5 o'clock

Questionnaires Issued To Traders on Stock Exchange.

NEW YORK, March 2 (U. P.)— The New York Stock Exchange loday had issued a brief questionnaire to its members testing their reaction to a proposal to reduce the present membership of the trading body.

by March 17, called for a vote on whether the membership favors retiring some of the 1375 existing seats, and suggesting three methads ‘by which this might be done. One plan would retire memberships through financing, partly out of the exchange’s resources, partly out of contributions by members, and partly out of contributions by new members to a retirement fund. The second proposes a fractional diminution of each seat, which would require each present member to acquire an additional fraction of a membership within a specified time. The third proposal, & varia-

each new purchaser of a seat be required to buy an additional fraction of a seat before qualifying for membership. Membership of the exchange was increased to its present level on Feb. 7, 1929. Prior to that, the membership had remained unchanged at 1100 seats since Nov. 12, 1879 when the sale of 40 new memberships was authorized to pay for the enlargement of the exchange building. In 1929, before the additional 215 seats were authorized, a membership on the exchange sold for the record price of $625,000. The terms of the increase provided that each member at that time be given rights to an additional % which he could sell or transfer within three years. Consequently, the seat valuation immediately

top price since that time.

.| Arrangements Made for Sale of Seat .

NEW YORK, March 2 (U. P).— Arrangements were completed to-

WASHINGTON, March 2 (U. P.).—Goyernment expenses and receipts for the current fiscal year thro ‘eb. 28, compared with a year ago:

The questionnaire, to be returned

tion of the second, proposes that

seat grim

after the enlargement dropped to o x P oriex $495,000, which has remained the g

Membership

Smallest Turnover Years Is Faced by Trade Body.

CHICAGO, March 2 (U., P)~— Directors of the Chicago Board of

in operating expenses in all departments, as the exchange tightened its belt to face the smallest trading volume in years. The economy drive, which is expected to save the board between $100,000 and $200,000 annually, was the result of pressure on the part of a large number of members whose income has suffered from the restricted volume of business. Operating expenses for 1938 amounted to $683,000, and, in addition, the board paid rental of $525,000 for its trading and office quarters. Net profit last year after all charges was $65,362. Frank E. Hagan, director of publicity, resigned when the appropriation for his department was slashed to a reported $2500. In 1938, $12,236 was spent for publicity, and a few years ago the annual budget was $35,000. Pay cuts were expected in other departments. Posting of grain prices in the visitors’ room was discontinued yesterday along with various other services to the public. Several employes have already been discharged. Trading in grain futures last year was the smallest on record, and transactions in the first two months of 1938 were only half the corresponding 1938 volume. Reflecting general stagnation in international wheat markets, the price of May wheat at Chicago held within a 2-cent range for the entire month of February.

Chivage Stocks

fo

2914 26% 15%, 1% 28's 107 12% 26% 23 40, 18 1% 812 2% 17% 111%

a

day for sale of a membership of the 1 Yaii & et . ow as an New York Stock Exchange at $62,-|am Airlines High 25 5 —. 000, up $2000 from the previous|Am Gyea B ...- 24 23 2B, = transaction on Jan. 24. The year's jsto CEE A 0” 2b 20 13 low was established on Jan. 18 at|Brewster Aero. 10% 10% 10% + % $60,000 and the high at $69, 000 on |Carrier Corp .. 17% 17 1° Jan. 11. Childs pf ...... 55 55 55 +1 an. Cities Serv . 8 8 — % ORG .. vii 3% 3% 3% + Y% a, 1 Com & Bo ws wi ni off Ixy i eole Pe . 2 — 12 OTHER LIVESTOCK = Gaul bl! 30.7 EE St CINCINNATI, March 2 (U.- : he A a Tn salable receipts, 3600: total Tilo0: Doi. |EL Bass 6 of. 10/4 104 104 + Ji 100: market, fo ‘loc lower; (Humble OI ... 182 Ol 818 — Ut yo 8.25; 228. 250 on as 10; 100-140 168. Insur No Am .. 66a 86Ys 862 + 1» $6.50@1. 28; bulk good packing sows, $6.25@ | jones & Lau Stl 28'2 23% 281, — 1 | NA LE ; C 0 — Cy cab trade on il i, A) 0 INREBE Eh. 8% Lt 17 v 87 ase Ys and 'vearlings about steady: few light and |N Am IL & P | rain medium we Bn steers medium to good, | pennroad iY 1% 1h ~~ Ys [email protected] in 15° to near choice heif- Phila rar 7 G2 a dp ers, 30.75: © good beef cows, $6@T: |Sherwin W ot. 11 % 112% 112% — 1% practical ‘top. Bulls 17.50, Std Oil O 20 20 + 0 Sheep—Salable receipts 100; total, 100: |p Gas Cort 2 87 ST O.. Little on offer early, duoted steady: good UnL &P bs 3 2h un and ed truckedin native lambs quoj- Un L & 5 ° 2% ae... $760: Phone clipped onterings Tio $0, |W Md RBI... 4 % dv I} 9: ce clipp offerings to $9, : SInaRhier owes Miinte $0Q3. £ Wilson Jones .. 8% 8% 8% + PT. WAYNE, March 2 P.).— 5¢ ai 200-220 Ps. ® oo: 530-240 Toe FOOD P RICES $7.90; 160-200 00, [bs 40.260 lbs $7. CHICAGO, March 2 (U. P.).—Aoples— 380-400 1bs.. § 60; aos 300 | dbs. 7:45; ae Michigan ackintosh, bu, $1.50 1.75. 325 1bs., $7.30; 350 .15;" 140- [Sweet Potatoes—Tennessee, bu. nampers, 60 Th $7.40; Tao: 1%0 Res $7.15; 100- |[email protected]. Carrots — Illi is bu,, 30@65c. 120 Ibs.. 0. ET eaAs bu., 60 omatoes— Roughs. i) 50; stags, #5; calves, $11. 80; orida lugs ,, 26250, Catifioer. Gail lambs, $8.75 jonas cr $ Peas — California hampers 2 Soma. 75. Celery — Florida crates, $2@2. Onion Market (50-1h. U. S. STATEMENT robe) —Tiinals " Yenows, 60@isc: | Tows Yellows, 70@90c

ichigan Yellows, 15@ 85c; Wisconsin RS el ichigan

LOCAL PRODUCE

This Year Last Year Heavy breed hens, 14c; heavy breed (All Receipis Are Saleable) Expenses .$5,886,063,916. 5.62 $4790,793, 420. a6 broliers, 41% ibs. and over, 13c; hens unFeb. T Repts.| Feb. T Rept Receipts 3,662,786,320.28 860,284,765.04 | der 41% 1bs., 13c; Leghorn hens, 8c; Barred eb. op pis. s op DiS. Gross def. 2.232.267,596.54 30,508,664.92 |and White Rock SpHNgers, 13¢; colored 23 ...3 33 5531| 28 .$ 8.15 5013 [Net def ... 2,206,530,646.54 0s 4.92 | springers, ou bs, and over, 12¢; Leghorn 24 ... 845 5635 March’ Top Rcpts. [Cash bal... 3.,343,424,933.96 2,974.677.3 0.42 broilers, 1% 1bs. over, 1le; spring 25 ... $43 3200 . 8.30 2758 | Work hal.. 2.603,421.335.11 1.211, oar 9 ghickens, Ta oe and 2 a "isc; old roos27 ... 825 12,000 3 eee 8.20 4459 | pub. debt .39,858,66 03.81 7.632,733,792.66 | ters, 9c. : — Gold res .14, $10. IY o 1 2,776, 061. i1s 02 1 1 cly Jesh sountry TUL, eggs. cod ana and Gilts oo acking Sows ustoms .. 2 264, 2.52 TOSS; ac net A on le 15 cen 8 for each Chol i350 § 7.35- 7.50] INDIANAPOLIS CLEARING HOUSE |ful case under 54 Ibs, 29c: No. Noade. co 140- 180 Ro Ek] Butterfat—No. 1 gic: No 2 21% 160- 180. 17.90 8.15| 425- 550. 6.75= 'i.25 | Debits ,..coos0e00re.s Phernrneniny 8,228,000 (Prices Quoted »w' adley Co.) 130- 200. 8.10- 8. 2 Medium— Subd 200-220. 8.10- 8.20 275- 550. 6.50- 7.26 220- 250. 7.95- 8.15 Slaughter Pigs 250- 290. 17.66- 8.05/Good and Choi 280- 300. 17.35- 7.80 os 140 $ a. 1.15 . edium... 6.50CATTLE (Receipts, 39 INTEREST RATE oN U.S. Lo Steers pals GOVERNMENT BONDS (LONG-TERM, Gi saan Ga bl Sra 14g i - . 20-14, m. OU 7, 1190-1380. 30-18% Med ton 5.50 6.25 7150-900 0-28-1128 a1 wetg Yealers SS EHH Grate” Fr oot 2 1300-1500 9.30-11.50, Medium , - 10.00-11.00 m-— - KEE 8.0: 3:30 i £.0 8.50 Jommon Plajn n— Cha Ct iPus, 306). 1927 | 750- 900 50~ 8.15,C 250- 400. s 8.00- 9.00 ahoites 0? Saalum.” 5.00. 7.00 Js0- 900.8 9.75-11.00 Common. 5.00. 6.00 1931 780- 900. 8.76- 9.75 Stocker Cait Medium Good— \ 550- 900. 8.00- 8.75/490 00- 800. $8 .00- 9.25 | Cpa0-" tog, .78- 8.00 900-1300. ~ 7.75- 9, 8 00- 7.80 500-1050... 7.28- 38 1938 jied um. 'e Common. : : Common .16~ 6.50 a ; . | ow A “ond outer ro 5.16 tae. 1.50. 735-825 EACH SYMBOL REPRESENTS 1% medium. Bhs. 7.25 8 : Science Service=Pictorlal Statlsties, Ine. 31 AND Receipts, 857 = . 8 nll SHEEP “Lami URessints ) TAKES MONTH'S VACATION BE MI PERSONALIZED AUTOMATIC Go ; TYPEWRITTENLETTERS 0. oles s a8 5 9.00] Tied mealim s 7.50- 8.50] NEW YORK, March 2 (U, PJ EXCLUSIVE 20TH CENTURY 6.25- 7.25 |Fred C. Moffat, who has just retired: ETTER MIIROSRAPHING ur Good and choice pe +8 318-4 50 | 2S president of the New York Curb ' COMPLETE MAILINGS Common and, medi - vee 3.50- 3.75 |Exchange after serving four years MULTIGRAPHING RR ly R sr | ” wz |month’s vacation Mia eac CHICAGO LIVESTOCK Fla. Merchants Bank Bldg. MARKET 3550 Hogs—Receipts, 12,000; mar a NO mostly Sale k wer than Fi i-prac- ; tieal to ood and cho ae 170-2 s., [email protected] 5000 1bs., $7. 8008; 280-350 In; Halls DO YOU WANT [email protected]; good medium heavy

Ohiile—Receipts. calve 20 yeariings and Veariing oe, e light rtd and weighty giiers

Steady; Jhcdmn) weigh , weak gat, an steady, scarce ie r run; yearlings 3nd Jeartis Ting sib. ht Steers in broadest r yearling ane scaling

EAR eT

ng Iafgel

teady: welts weak b pe over COWS 8! 2 sause e bulls 740; heifers. $8 \& $11 ya iy Eon ae and © % 0 on wesk m 15, late Wednes esday fat lambs mostly ‘95¢ ower: Shoe 3 e o : 10h. 108° 1b Ib. fein 5. $8apas 00. 8 ens teady: good ewes 4 gays i fat oambs | Sra de se” ow ova oli Ch Io

to i $8. Rs; several load choice LX oferings ih to Shippets, best held hi ‘her, heep: Sead 5 Scattered . pati . "ewes around

picking SOWS, 5 Ra 15; a vw

10 years 15 years 20 years 25 years

Ses0poeds)

Write for

Criricd)

INSURED SAFETY Supe

:OMPOUND D Dividends? - at yh "The total invested each socumlation

month for 5 years

loos $ 323.05 sssseseenione 1133.15

sssshesacsen:

ERS

By an Agency of the Federal Government.

rvision=—

Then Open n SAVINGS ACCOUNT

"HERE

Save $1 or $5,000 Your Account Is

Up to $5,000

698.00

tee

tess 1638.20 2224.30

Folder on Insured Accounts \

EDERAL

Trade today ordered drastic cuts|

ON THE RADIO

(wood. Calling at the “

TONIGHT :00—Kate Smith, WFBM. :00—~Rudy Vallee, WIRE. : News, WIRE. :00—Andre Kostelanetz, WFBM. sn» A preview of Verdi's “Il Trova- ’ the opera to be presented by

this afternoon on the weekly Metropolitan Guild program, NBC-Red. Florence Easton, former -Metropolitan star, will be commentator with Arthur Carron, winner of the Metropolitan Opera Auditions, as assisting soloist.

8 » 8 The “Ice Follies of 1839” will be

a Good News banner line at 8 to-|

night, NBC-WIRE, with Joan Crawford, James Stewart and Lew Ayres as guest artists The film stars will present preview scenes from their new picture. Robert Young will interview several turf authorities about the $100,000 Santa Anita handicap to be run Saturday. 2 = =a

Ravel's “Bolero” will be featured by Andre Kostelanetz on Tune-Up Time, 9, CBS-WFBM. The rest of the program will be one of Walter O'Keefe’s “family affairs.” 8 8.»

Mrs. Roosevelt will christen the world’s largest commercial plane tomorrow at the Anacostia. Naval Station in Washington. The ceremonies will be broadcast at 2 p. m. NBC-Blue. 2 s » Guest starring with Rudy Vallee at 7 tonight, NBC-WIRE, will be Ethel Waters, now appearing on Broadway in “Mamba’s Daughters.” Miss Waters will do a scene from the play. '©ther visiting stars will be Joe Cook, comedian, and Paloma, an Argentine singer. ” ” ” Bing Crosby’s guests at 9 tonight,

first tenor|.

” will be Joan Bennett, Joseph Callels and the Music Maids. Mr. Calleia, who sang for a living before joining the film colony, will sing “Adelai,” which he wrote collaboration with George Abbot Miss Bennett will “just: tok. » Mr. Crosby’s vocals will "be “Penny Serenade,” “Youre a Sweet Litle

Headache,” “If I Get Along With-

out You,” “Jeanie With the Light Brown Hair” and "¥odby Huja Hicky Dula. ” # 8 8 He Kate Smith will present Baivnidid Massey in scenes from his Broadway success, “Abe Lincoln in Iilinois,” at 7 tonight, CBS-WFBM. x ” ”

Grace Castagnetta, American pianist, will star on the Keyboard Concerts program at 2:30 p. m. to= morrow, CBS-WFBM. Her pi gram will include Handel's Air and V ations in D Minor; Rondo Favori in E Flat, by Hummel; the Br: Ballade in D. Minor; rangement of the “Maiden’s Wish” by Chopin, and the Fantasie, by Scriabin.

8 o ” ho

Senator Taft (R. 0.) will contand that the Constitution is the “shield of minorities” in his talk at 10705 tonight, NBC-Blue. He will ‘speak from the: Charter ‘Day dinner : of Howard bg

Bi #

Schubert's Eph No. 7 In 9 Major will be played in its entirety at 7:30 tonight, NBC-Blue, by the Rochester Philharmonic Orchestra, The program will open with Von Weber's “Oberon” overture.

Ld ® #

A 15-minute summary of the quarterfinals of the national indoop tennis championship will be broads cast by Ted Husing, sports commene tator, at 5:54 o'clock .this afternoon

sri

A

NBC-WIRE, will hail from Holly8 8 =

THIS EVENING |

1s not ible for inacour, cle: = nouncements caused by station ohanzes Stter ores time. i program Ee

(The Indianapolis Tim

over CBS from the Seventh Regls

ment Armory in New York. #8 a

INDIANAPOLIS INDIANAROLIS CHICAGO CINUINNATS = WEB, 1230 WIRE 1400 WELS-WENR 180 nat (CRS Net.) (NBC-MBS) . Noa MBS). 00 Tea Tu the House 1. U Program Jawkins Or. . Hannah 115 unes Scores Pringtime dambutes :30 Hi. 1 Home Edition Land Armstrong :48 id Monaco’s Or. Johnnie _Johgston Pom Sullivan

om oo

“on Muple Hall

4: 4 ¢ ¢ 5:00 Christian Science Safety Talk Don Winslow id us Sowie Wi Wing Good Afternoon Mal co! Pa tar : Jour 6:45 Interview Riri Lowel) Denton” 8:00 ow os A 6:15 FHA Talk Vora Nien s Er Persons varies Andy i 6:30 Joo Penper Walter § ity te rts n't Belleve 4 . 6:45 nd Re ar of Alr News . ‘Inside Svorts . 3:00 Kate Smith Rudy Vallee Know Your School Rudy Valles HR ol. > Philharmonic Or. 2° % = 8:00 Majpr Bowes Good Nope re Gogd News Be 2 $2 Cvwmwee # 3% 7 3:0 Tune-Up, Time Musio Hall CR 9% 9 0: 0: 0: 0:

$ » ’ » . Minstrel Show ” 5 :46 Social Security, . i» pirel, De oon ny 10:00 News Amos & Andy News~ ; Paul Sullivan _.: 10:15 J. Dorsey's Or. Scores Bolognini’s Or. Sweet Adeline ~ <'- 10:30 Calloway's Or. Outside Henderson's Or, Gardner's Or, 5 10:45 » » Carlsen’s Or, _ - 11:00 8. Kave’s Or. Casa Loma Or. Music Moon River 11:15 Strikes : Spares ”" ” 3 ” "we 11:30 L. No bles ’'s Or. Crosby's Or. ” ” Review | 11:45 ” » % H. Kay’s Or. Dailey’s Or. Sl FRIDAY PROGRAMS 415, INDIANAPOLIS INDIANAPOLIS INDIANAPOLIS CINCINNATE FBM 1230 4 (WIBC 1050) WLW 0 we (CBS Net.) (NBS-MBS) (NBS-MBS) 6:30 Early Birds Devotions Tabernagle Checkerboard _ - 6:45 ” ” Markets Valley Folk os 700 "oe Tunes & Ti Idealers me to Shin 4S » " " " » Breakfast Jam Bit, Giant a : ! eckerboar Wagon. . 7:45 - .. ” i ‘Breakfast Jam Ley 8:00 Maxwell Cnffee Cup, Paul BR 8:15 Tex! TN alker 7 Ro Byrd Want a 0h? = AIS 8:30 Roun Baby Bu letin Fashion Footlights a liton House 8:45 Apron "Strings Symphonic Band Devotional uettes £5% 9:00 Kitty Kelly Cent i ti <=: 9:15 Fapells Kt Kitchen Other ig g ity Ma a 3 ee Huss oe 9:30 mL Plain ee 3. . Julia Blake ; oe 9:45 Stepmother Woman in White » The Goldbergs * ’: 10:00 Faet Finder David Harum Kay Bartlett Linda's Love 10:15 - Scafterzood renzo Jones Vie & Sade ’ 10:30 Bi oh 3 Riste idow Brown Safety Proztam . ow! : 3 10:45 se Stor Editor's Daughter Cantiotine Road of Life 11:00 Mary MeBride Singin’ Noon ' Rhythms itary Dh 11:18 Nanoy James Linda's jv * ‘op rt o» rr on N i 33 a rele r. Malone arlie Cook - ews lar 11:45 tm Cy : Farm Hour Boy Greets Girl Farm es Sr 12:00 Farm Burean Markets Back Home w 00 a 34 s cadlines Frank Du goon m News = 12:30 ohemians IRE Reporter Sleepy Ho milin , Ta Ty 12:45 | Manhattan ‘Voice of Experience apny Gilmang' © > 1:00 Lenten Services Betty & Bob Food Betty pC 1:15 . Susa, Grimm’s Daughter F. Grofe’s Or, Grimm's rw 1:30 Alf, Sehao) Valient s Valiant Lady 3 1:45 Betty Crocker Bandbox Betty Crockep 30 Marine Band Army Band Piano Moods Mary Marlin ii 115 ’ ’ Progress Parade Rhythmakers Ma Perkins 8 2:30 Keyboard Congert Hour : Pepper Young - ni 2:45 Police Court Guiding Light 8:00 John Stu urges Slats gs Wife . Swing Concert ad Hatterfields,~ 3:15 Promena na Dallas Virginia Taylor i dstream 2:30 ade Home F Folks ‘ Beautifu! Lif je 8:45 Merry Minstrels Gir) oe Kitty 4:00 Butler Forum High School News Legislatur: nn is 4:15 Tea Tunes cores on any TR s Or, od 4:30 I Home Edition old - Refraing a a aronk »i% . 4:45 » ” Richard’s Or. Hawaiians. Paul Sullivan . °°

NBC-RED—WEAF, 66

KEY NETWORK STATIONS (Subject to change): o NBC-BLUE—WJZ, 760; WOWO, 1160; WENR-WLS, 870; KWK, 1350. 3" WTAM, 1070; WWJ, 920; WMAQ, 670. CBS—WABC, 860; WIR, 750; WHAS,

$20; KMOX, 1090; WBBM, 770,

CROSSWORD PUZZLE}

| HORIZONTAL Answer to Previvus Puzzle 20 She was an 5 1,8 Pictured =e) ee: Slatin 5 ‘skater. champion. - ~ ( 5 Flatfish. LUNE RIT “i y E KING “| 21 'Unsound. 113 Olive shrub ; ; 14 Helmet- R GEORGE 2 jig Shes 5 wie, ERAN AD) 3 rie. ab : I 27 Grieve of ay 17 Insane. . JRE hearing. - * > 18 Greaser. | O] 28 Wing. 1 19 Blood money. S 29 To hie, . 2 20 Exhibitions - 31 Secreted. “i. 22 Pipes for 32 Ancient. raving ofr : 33 Snaky fish, “= quids. : - 37 To primp. =~ = 25 Musical note. 49 Fish eggs. 3Tidy. = 4p oT 26 To long. 50 Recipient. 4 Green stone. 41 Hages. tn 30 Resounded. 2 Rowing tool. 5Platform. 42 Feudal fren. 34 Genus of apple 53 She yo the 6 Every. 43 Poem. _ trees. os os _ 7Honey 44Behold. . 35 Covered with 55 Her | BUT Sutharers. © 48 To exist. “7 .* tile. Her native 9All,- -: 486A bull. - 36 Life principle. 5s female distributively, 47 Legal rules, x 37 Small pool. £0 Biv 10 Roman 48 Epochs. °° 38 Railroad. 80 C 8 pen. emperor. 51 Almond. 7° 39 Aromatic oil Smpany. 11 To press. -53 French. = "¢ of coffee. VERTICAL 12 East India. = 54 Musical note. | 45 Insects, order 1 Therefore. 14 Obtained. 56 Opus. J i%3 Coleoptera, 2 Salamanders. 15 To ascend. = 57 You. i 3 : i ett 149 . *

~

Liszt’s. ar= |

tng i

3 . ». EEN