Indianapolis Times, Indianapolis, Marion County, 6 March 1939 — Page 15

te a $8

|'weakness at Liverpool gave wheat

{by Thomson & McKinnon, were:

6: E: NET EARNINGS

oT erm 2 Bord

Times Special ; WASHINGTON, March 6.---The bonds will last at least another two

of leading life insurance com

—

WHEAT IS DOWN IN RESPONSE TO LIVERPOOL DIP

Corn at Chicago Also Lower While Oats Display Irregular Trend.

‘CHICAGO, March 7 (U. P)— Scattered selling in sympathy with

prices an easier undertone on the Chicago Board of Trade today.

‘At. the end of the first hour wheat was off 1 to 3% cent, corn Of 2% ‘cent, and oats up % to off % cent. After opening % to 3% cent lower, prices rallied to around previous closing levels under commission house and local support. May wheat encountered further pressure around the 69-cent level, however, and prices again weakened, f Liverpool wheat closed % to % cent lower. Winnipeg was off 14 to % ‘cent at the end of the first hour. An increase of three million bushels in last week’s world shipments was depressing abroad. Stocks on ocean passage were up two million bushels. North American export business over the week-end was reported to be flat. North American wheat and flour shipments last week totaled 6,607,000 bushels. “The weather map showed no important precipitation in the Southwest, and the forecast was for generally fair weather. | Corn prices rallied slightly in sympathy with wheat, but trade was light. Liverpool reported quiet demand for corn. Local receipts were estimated at 78 cars.

CHICAGO GRAIN

Opening prices today on the Chicago Board of Trade, as reported

May July | Sept. Wheat— : $ 68% § .68%7 § .69'% Corn— 49% 5058 sess Oats— : \ A 291% eve 900 WAGON WHEAT city grain ole slevators | are Pazin far No. other grad es on merits,

Gash corn, new No. 2 yellow, 43c. ‘Dats,

25-Cent Dividend Declared For First ’39 Quarter.

NEW YORK, March 6 (U. P.).— Net .earnings of General Electric Co. in 1938 were 56 per cent smaller than the preceding year, but incoming business the first two months of 1939 showed an increase of more than 25 per cent over the corresponding 1938 volume, President Gerard Swope reported today.

At the same time the executive announced that the company’s directors at their meeting today had declared a dividend of 25 cents a share for the first quarter of this year, payable April 25 to siockholders of record: March 27. ‘In 1938 the company paid 30 cents a share the first quarter and 20 cents in each of the succeeding quarters.

Swope reported 1938 net earnings, on a preliminary basis, at $27,729,000, or 96 a cents a share, against $63,546,762, or $2.21 a share in 1937.

A. T. & T. INSTALLS 133,900 NEW PHONES

NEW YORK, March 6 (U. P).— The American Telephone & Telegraph Co. reported today that its principal operating subsidiaries, included in the Bell system, added 68,300 telephones to their service in February, compared with increases of 65,600 units in January K and 29,000 in the corresponding 1938 month, Total station gain for these companies the first two months of 1939 was 133,900 units against 61,300 the same period a year aga.

FOOD PRICES CHICAGO, March 6 (U. ROR

Michigan Mackintosh, bushel Sweet & oliatoss— Tennessee

perso 10. Fe bushel, 0@ He jhacine Texas. bushel, 75@ i orida, lu [email protected]. Cauli-

flower—California, cra 08, [email protected]. Peas —California, hampers. j2e5@3, .Celery— Florida, crates, $1.85@2. Onion Market (50-pound ates SLD ‘yellows, 60@85c; Towa yellows, $1; Michi gan, yellows, Minnesota yellows. 82% @35¢; Wistonsin Yellows, 60@90c; Idaho sweet Spanish, 95¢ @$1.20° Colorado sweet Spanish, 90@95c: Utah sweet Spanish , $1.20; Colorado yellow danvers, 92%e.

FOREIGN EXCHANGE

NEW YORK March 6 (U. P.).—Following are noon cables rates on major currencies: vet ; , abe Rates £ 3 ge a § 4 7 "88Y 00% e008 a3 -+-.00 1-32 Ae 5 Ys --.0000%s 0526% +-.0000%s .1683 <+.0000%2 4013% —.0000 .2220 —.1U020 2272 -—.0001 * .5309 —.,0002 +2415 ify +1} «2357 .0001 2094 -+.0001

SECURE —PRIVATE NECESSARY -CONVENIENT

BELOW ’37 FIGURE:

8 Ady i

for Long S Prodicicd

To Last 2 Years More

Survey of InVestiient Executives Reveals Majority Are in Favor of Large Part of Portfolio Invested In U.S. Bonds; Against Private Sales.

present high market for long-term years, according fo the results of a

survey embracing the personal opinions of over 500 investment executives , savings and commercial banks, trust companies and other financial institutions throughout the United States.

They further believe that the private sale of large new issues is against the general welfare.and that it is impossible, from the viewpoint} of safety, for a financial institution ‘to have too large a percentage of its|; portfolio invested in U. S. Government bonds. The belief that a pessimistic view of the long-term financial outlook for the railways: is justified was expressed by nearly two-thirds of the executives included: in the survey, whose opinions were stated anonymously in a poll completed Yesterday: by Homer .& Co., Inc, dealers in high-grade institutional bonds. : Of the 1200 important officials whose opinions were sought, near-

dilemma, they do not favor government ownership on a basis of fair compensation and do not favor removal of freight rate-making restrictions, but they definitely favor increased regulation of competing water and highway carriers and unrestricted consolidation as the best solution of this problem. Only 13 per cent of these officials suggested lower rail wages as a remedy, only 8 per cent higher freight rates, and only 5 per cent favor drastic ‘scaling down of fixed charges. A substantial number recommend giving full control of railroad reorganization to holders of defaulted senior bonds.

. Approve U. S. Bond Holdings By a majority of more than three to one, the executives reached by the survey asserted that from the viewpoint of safety, their own types of financial institutions are warranted in carrying a full percentage of their bond portfolios in Government obligations, The first question asked in the Homer survey was: How soon will the present major bull market for long-term bonds change to a major bear market? Only 1 per cent of the answers stated within six months, while’ 34 per cent voted six months to two years, 59 per cent voted two years to five years, and 6 per cent voted longer than five years. Thus, in the aggregate, 65 per cent of these institutional executives believe that the bull market will continue at least two years more. Among other opinions reflected in the investigation are a preference for high grade corporate bonds, as contrasted with state and municipal issues of equal rating, and a preference for over-the-counter corporate bond dealings by financial institutions in comparison with transactions on the floor of an Exchange. Disapprove Private Sales

. In reply to the question: Do you approve, from the point of view of the general welfare, the present practice whereby large new issues of long-term corporate bonds are frequently being sold privately to few institutions without public offering?, 85 per cent of those who gave an opinion. disapproved = of private placement, while only 15 per cent approved. In spite of the general pessimism regarding the future for the railroad industry expressed by 64 per cent, 90 per cent of the financial officers whose views were sought urge the retention of junior bond holdings, principally railroad, in view of the likelihood of higher security prices later on. The majority also recommend the sale of prime corporate bonds and reinvestment of the proceeds in government bonds of the same maturity, provided that a similar return could be obtained from Government obligations. Another question asked was: Can your type of financial institution have too large a percentage of its bond portfolio invested in Governments (from the viewpoint of safety) ?; 23 per cent voted Yes, while 77 per cent voted No.

HAWAIIAN HARVEST OF SUGAR IS LOWER

1938 Production Is 6 Per Cent Below 1937.

Tim:s Special SAN FRANCISCO, March 6.—The 1938 Hawaiian sugar harvest, the islands’ biggest business, approximated 921,753 tons, 30,000 tons below the mainland marketing quota as established by the Sugar Act of 1937 and 6 per cent under the 1937 production, the current Business Out-

.| look of the Wells Fargo Bank, San

Francisco, reports, The lower yield was due to reduced acreage (under the terms of the act), and unfavorable weather conditions. The 1938 crop value of 50 million dollars was 28.5 per cent under the preceding year. Other measures of business activity in Hawaii during the past year showed gains or only small declines from 1937 levels.

wl 7

ME LT

lg a

| All Makes Rented aM Jevaired WOODSTOCK TYPEWRITER CO 30 S. Pennsylvania St. LI-4712.

L

iy half responded. On the railroad|-

TONIGHT ~ 7:00—Al Pearce, WIRE. 7:30—Margaret Speaks, WIRE. 8:00—Radio Theater, WFBM. 9:00—Guy Lombardo, WFBM. 9:30-—-Eddie Cantor, WFBM.

The - last-minute business festivities attendant upon the islature’s | closing session tonight will be broadcast on WIRE, beginning at 10:30 p. m. and continuing until the station (or the Le ture) signs off.

William Poweli and Kay “One Way Passage”? Bill will star again tonignt, this time Norma Shearer, in Radio eater’s interpretation of the + CBS-WFBM. It’s the love story of a voyage two people took from Singapore to San Francisco and a one<way passage for both. |The girl is dying from an incurable heart ailment and the boy is returning to the States be hanged. | » » »

Radio: dramatizations make 00d listening—so say radio audiences— and tonight is one of the best “play” nights on the air. Columbia Workshop’s choice is “Winged Victory,” 9:30 o'clock, CBS. Zita Johann, former stage and screen star, returns from two years’ retirement to play the lead. The play is a study in divorce,

® = ”

Another ‘dramatization program, not exactly a play, is the Cavalcade of America broadcast at 7 o'clock tonight, CBS-WFBM, These | prograris are enactments of intergsting epics in the historical annals of America. Tonight’s program will be a saga of the Texas Rangers in which several typical exploits of Tom Dawson, a mythical . Ranger, will be dramatized. Canipfire songs and Ranger ditties will round out n » »

Cincinnati Symphony Orchestra,

ests Through Entertainment” (7:30

doing | narrating. 8 = =

In a program stressing the velae

morrow, CBS.

and Poetry” and Mr. Herrmann will conduct the orchestra in famous examples of classic and modern | collaborations between : poets | and composers. { x x =

Eugene Goossens, conductor of the

will present an original composition, “Four Conceits,” originally written for piano, in the last of five Young People’s Concerts at 2:30 p. m, to= morrow, CBS- BM. » ” 2

In observation of National Chile dren’s Week, Dr. Harvey Zorbaugh, director of the Clinic for Social Adjustment of Gifted Children at New York University, will talk on “Developing the Child’s Cultural Inter-

tonight, NBC-Red). On the same program will be a dramatization of Paderewski’s life, a talk by Dr. Charles Hendee Smith, professor of pediatrics at New York University; “Children’s Needs Are Parents’ Needs,” Charlotte ‘Carr, director of Hull House in Chicago: President Ray Lyman Wilbur, Stan= ford University, and Walter Disney, who will talk on “Stimulating the Child’s Imagination.” » ” ”»

A “School for Brides” is WIBC's new feature beginning today in which helpful hints on homemaking, husband information, baby care and recipes will be broadcast for brides from 16 to 60. 2 =

THIS EVENING

(The Indianapolis Times is got re ible f ° nouncements caused by station ¢ er or ron i 12 marian sa ; INDIANAPOLIS INDIANAPOLL WFBM 1230 WIR 8 WLEWENE 8 Cow ion” (CBS Net.) (NBG EMBS) (NBC Net.) (NBC-MBC) , 4:00 Restoration isl ’ . 4:13 Tea, Tunes Deak sige Eakey Juss | % ” 3 . ome Editio: Landt Tri 4:85 nn .» - Basonology n Lilian Cornell duck “Armstrons : WPA Speaker Lone Ranger Don Winslow Don Winslew Howie Wing Malcolm Claire Patricia Gilmore Bohemians Dick Tracy Ray Perkins Nixon Denton : Senhle Tucker - Questions Sports Lowell Thomas ai Easy A A p Lam Abn mer | Human Side Los Bons Davi’ or. Anty ie ortsmen’s w alter Shea He ere Comes Bride Newspaper of Alr Noes . int Pars Cavalcade Al Pearce Buckaroos Al Pieres

Slocee| nnnn| aaa anan saan 2|5853| 5858 8853 5873 5858

NBC-RED-—WEAF, 660; WTAM, 107

| KEY NETWORK STATIONS Peet to change): NBC-BLUE—-WJZ, 760; WOWO, 1160; WENR-WLS, 870; KWK, 1350,

0; WWJ, 920; WMAQ, 6870.

| : | — . i |

CROSSWO

RD PUZZLE

2

TSR AS Te hi

LI-7920

mbing

888 Mass. Ave. Res. CH-7920

American National

is ET LareE = ih Een AE 0S WEAKEN INDEX OF AUTOMOBILE PRODUCTION IN THE u. 5. AND r 180 otal Passenger Core and Trucks by Weeks, 1926 +100) - ; : | ~1, 892:171.6 ; 160 } / , | | 140 }——R ‘ TURNS UNEVEN [ \ ol IL 1 : 102,905 124.4 v = 1 A : 120 | : A. T. & T. Holds Well After| , 1 | W A [ANN © ae pt ° : vr x : »» Establishing New Peak | 2 h | Since 1937. sof 1 " ON NEW YORK, March 6 (U., P)— 60 . Aviations turned weaker in dfternoon dealings on the stock market 40 + / J : - y - : # 3 ay and the general list was high- 28.030+33.9 | W Week Ended Feb./8" ly irregular in light dealings. 20 } i APN Douglas Aircraft lost a point to iH /3,790:16.7 : 69% and others were down frac- Pr Ag Hon ~New* York : epared by Administrative and Research Corporchion: or . tionally. Steel shares turned down ok pa . by ; pe - 1938 1939 after a brief display of steadiness. 1936 1937 : Motors slipped back fractionally and ! : : L rails turned irregular. Utilities held | AX rN Y Y HM P ce G steady, featured by activity in Co- 1 Ve A og Il S . Oo 'av jumbia Gas. : : A. T. & T. held well after making - By United Press 1 5 . c t . a new high since 1037. Western me , [JOW-JONES STOCK AVERAGES Up Cents ’ : ot Union dipped 1 to 23%. tend d High Low. Last Change ; 30 INDUSTRIALS ” » Building issues were steady and|,, .. ;.. 9% 9% 9% .... Saturday ......seeeeeee.....149.49 40.73 5 some mercantile shares held small|Allcgh Lud St’ 23% 23% 23% + Yl Week age sirorereereerrs 146.62 —0.20 : \ €alcrs 1SC€ gains. Oils were firm in moderate 4llied Stores .. 10% 10% 18% ----, |ifonth ago -iieererereeesse. 145,08 —0.04 turnover. Coppers held better than Am Ag De Loi i 18 0, 2, | — z Year BRO oii )oehe.cerrarre: 125.38 —2.29 other groups and some rubbers|ym ant 70 e 18% 337% 13374 TT..74| High, 1939, 154.85; low, 136.42, . : En ; » registered minor gains. he pt le 15a Yaw ooo High, 1938, 158.41: low, 98.95. : Rise Made in All Weights ; Trend 1s Fi Am Loca Pu 0% Wh Wh —- Ya 20 RAILROADS hi La m C ves < BOY aa : Bond Trend Is Firm Coli MS un §. a8: a. Fis alurday sai) derBevarecevnres 3.88 ap -With Top Hitting $8.35; A generally fir mtrend prevailed Am por 6 pf . 48% 48% 48% .... |'Week ago ..,iiviieesecensees BL ; : ad & SS.. 16) | 16%2 16% — Y8|'Vionth ago ...evseseseseesess 30.25. —0.13 V ! Ad in early trading on the listed bond | Am Roll Mill .. 18% 18% 18% — % t ui ‘ealers vance. » : 3 in| YeRAPr RRO |... di aevernsasenns 28.05 0.7 market. Am Sate Razor 153s 15% 156% + !s i > : ant gmels trae 48% on 8p - J Hix, 1939, 315s low, Fi.08 U. 8S. Government obligations eee A 2 4 / igh, 1938, 33.08: low. 19.00. strengthened under lead of Treas-| Am Woaien of.. 33% Be Be Toa 15 UTILITIES Prices on hogs at Indianapolis ad-) 1 d| Anaconda ..... 31% | 31a 3lla| + | Saturday |... | evan os sezeinants 126.09. 4-0.04/ vanced 15 cents on all weights toA | ury 3%s of 1952-49 at a new yocord 3 Y 1 : Armour Tl1. 5% | 5 ia vere | Week AZO +1. csesessensssess. 28:60 ......|day, according to the Bureau of Y high of 11020-32, up 24-32 point. A|Armour 11 pt.. ish ash. 3a]... | eC BRO 25.52 10.92] A tural Economics. number of other Federal - issues Arms 31% jin 2% T Ai ag fifemersenansens 355 to. Agricultu: ! 4 5 hed I ti highs. but! at A TRE ul AF AKO)... feeceresinnnn rev 19.) A The rise was attributed to a sharp feathed new a me higns Alchison: of I a93t vss 893; ''1| High. 1939, 26.09: low, 22.30. dip in receipts around the market gains Jor the igh Dart ne Sr Atl C Line 254 28% 25% + | High, 1938, 25.19; low, 15.14. circle. stricted to around 3-32. point. Scat-| Atl Gefiting 22 2 nt, ) tered losses ranged to To32 point. Avistion "Corp. 2% 3% 3% sree Net Top price on 200 to 310-pounders . 8 8 _— +3 i 3 , = High Low Last Change/advanced to $8.35 wi e rise. Domestic corporation loans stead Re Sid G&ETpLM 4 24 + %| Vealer prices rose 50 cents over jed on small opening’ gains. First Bald Loco ct... 18 13% 13% — Y|Sterl Prod .....74 74 74 + line level established early Friday grade rails were in best demand in|Balt & Ohio .. 7 7 7 ses. [Stone & Web. . . 45% 153 15% — ? 5 ; i arnsdall ...... 167% 187% 16% — Ja|Studebaker . .. 8} 8%2 8%. .... [the top going to $11.50. early trade. - Cleveland Union|Beld Hem .... 8% . 8% 8% + % Superior Oil i. 2% 2% 2% ¥ 1 The fat lamb market was not Terminal 5s were up 2 points at|Bendix Avn 26% | 26% 26% — Y|Sw Co ...19% 1% - 19% + % e iat ; 5 81; while moderate gains were noted Best & Gor... 53% sim 83% ¥% ~T= fully established at a late hour, with In most other rails eth Steel .... 4% | 74% 74% — Ya Texas Corp ... 43% 43% 43% + % | best wooled offerings being held upDy 0 30 30 -— 9s|lhompson Fr. 28, 3, 238, .Titlward to $9.25 or steady with late } Utilities were narrowly irregular|Bobn Al & Br.. 2004 | 20x 2304 + Al limken R B |. 4872 482 48% — 714 last week. in light trade with New York City | Borz-Warner . 273 | 27% 27% ... Trans West Air 9% 9% 9% .... ST ——— Traction Co. loans registering Jrieas SHE 24 4 LE Hap — 1s { e—U— (All Receipts Are Salable) small gains. Industrials improved |Bucyrus-Erie i. 117 11% 117s — %|Jnd El Fish .. 58Y 58% 58% — 9% Feb, Top Repts.March Top Repts. ) : 7 5 Jn Oil Cal ...,. 19 - 19 —-— 3 3 fractionally. pid hg: §7% 578 4878 't'y.|On Pacific | 1.103% 103% 103% — Ya| 33 oa 10000 3.0 Y 8% ii Bulova eo 32 32 33 LG att Cb 39 a 937 T it 21... 825 10000 cree 82 i430 Utility Shares Feature Burlington M.. 16% | 132 Dut Bish af imes rim Iv Iw 1... WB 8 501s] 3 .... 830 mii ; = Butler Bros ... 8% 8% 8% + % Jnited Corp 3% 3% 3%... : » Demand for senior utility ¥ shares —Cl : United Fruit Ti A 77a RE 7 Barrows and Gilts Packing Sows featured an irregular trend in curb|.,, to ®... 7% 1% 7% .... [On Mer & Mig. 10% 10% ‘10% + «| Good and Jond-0s0.5 7.35 dS » . stocks. Trading was moderate. Canada Dry ... 18% 18% 18% .... 3 Realy s01e 01s sors L ia 160-160 ¥ 7.25- 8.10] 350- 428." T.15- 7.40 National Power & Light $6 pre-|Gan Pacific ... 4% 4 «see | 3S Rub 1 p? 109% 109% 109% + s| 160- 180. - 7.90- 8.15] 425- 550. 6.75- 4.25 Case J 1I...... 1 91 9 see 180- 20 8.10- 5.20|Medi ferred gained 2% points and New| Celanese 22% %% + %|J S Smelt .... 59 99. 8, 1 dd Celot ee 1744 17 + J S Steel 644 63% 64s — Ya 200- 220. 8.10- 8.20| 275- 550 6.50- 17.25 England Power Association pre-|gRote¥ -.-. 24° 24° IZ 3/30 8 Steel pf ..118% 118% 118% +4 3,| 220- 250. 17.95- 8.15| Slaughter Pigs ferreds1%. C& NR DL... 2% 2% ... |USTobp 5% 45% 45% ~~ Jp 200-200. 16%- 308IG00d BRA CHOice TT » t Fi tended |Chi_Pneu T.. 18%, 18% + % Vor 200- 300. - jo $ 100-138 Colt’s Paten rearms extended | ‘ap oqeft 2 82% 8% — %lvan Raalte pt. 35% 35% 358 Medium an earlier loss to 2 points among Colgate-P-P"... 16 | 16 18 — Ys] on Raalle pf. SY 35% a + % CATTLE (Receipts, 100) ‘special industrials. Columns ers "8% 8% 3% +n Warren Br 3 27% 3 4- ¥%| Chole Steers Bulls : 5 Ys | C All Weights— Mining shares made fractional {Com Credit 6 56 5 — | war Tol & @ > 25 25. 4 1a) 750-900 $11.00-12.25| G'd .$ $ 7.00- 7.50 om Inv Tr.... 59 59 5 esse | West Autd Sup 29% 29% 29% 4-3 : - - 3 jetvanees. Credle Rerzoleum gained Som Solvents is Is ] Sas west Al Bk » 2 28s 8 ¥ 4 1100-1300 i; 20-13:18 Med tum. 5:30: 625 | 14 e omw Edison .. | sens ee eel. .. > od— loil Don, 23 ouweryise Sieady Gons Alreratt . . 31% 3% 2 7s x >» Willys 3 O¥erad 2% 2% 2% 4% 736: 500 3-33-1123 All Weights | . ons dison . Jal 2 2 een - DU=11, .50 Lockheed and Grumman had ma-|Cons Edis pf ..107 107 107 + % Wootwortn Co... 49% ab% 40% ¥ne|ileo-iate. 530-1139] Choice ..$11.00-11.50 jor fractional losses Cons OF Taal ay Smt D —_Y— 300-1500. 9.50-11.50| Cuil and ont Can ...... 4042 40'a 40% + | Yellow Tr ..... 19% 19% 19%...» |MSONE gs. 950] common 5.50- 8.50 . jGoty ol 6% | Sth 8% |. Ta|Young Sheet 1: 50 0" - 50 % £100: 1500; (3.50- 9.75 (Receipts, 25) STATE WEEKLY COAL grams Goi pi: Bate fan" 88% x 3 on; / Common Pla in 50- 8.75/Choice—~ : Cow 2 42%, 429; — 71, denith Rad .... 20% 19% 20% + ‘ . 250- 400.9 $ 8.00- 9.00 : Curtiss-Wr .... 61 61 62 aie. Heifers 7 .0 -3 i OUTPUT IS HIGHER |Gis-W: £7: 28% | 28% 28% Zw Chotee | Medium.” 5.00- 7.00 pl N. Y Bon a. Ss Js0- 9 900.8 9.75-11.00 Oo . . Deere & Co ... 22% | 22% 22% «ss 750- 900. 8.75- 9.75 Stocker Cattle Indiana's: coal production during Bulan pf... 113” heir “| | BOND PRICE INDEXES [MSIm= 0 os uslGood— > the week ending Feb. 18 rose to 417,- | pu" Pont ..or.. 3 : yy a] ’ 550- 900. - OC 800. $8 .00- 9.25] » 000 tons from 202,000 tons the pre- bu font ™enlith JOG WR E10 Yd 2 i . »o Seon sag 6.75- 8.00] 00-1300. $805 of i - ee 3) 3 fi . | - bg * Yious week and 341,000 fons during Elec Auto.L . +i 4h. Bh = B caturday i... S75 621 1017 833 Good en 7.00- 1 500-1050. 7.25- 8.00| Of e same week last year, the Na- End Zohn pf 043 1042 104'2 .... | Week Ago .,... 86.6 60.1 101.2 ° 82.6 Medium ‘575-6 Heifers tional Bituminous Coal Commis- Erie Pub a Nec 3: Month Ago .... 86.3 59.2 100.5, 82.0|Low cutter ood and Cholce— a sion announced today. : : IUPTRL Ty Retinal TI Year Agora i809. 63.4. 93.3... 4.2 and cutter ws. 570% o00- 189, oh National Bituminous production, Pairbanks ‘pf a Two Years Azo. 94.5 100.2 1046 99.8 | medium. 5.75- 7.25 of . 8. 6 8 — Ys hh i 1 1 1 ~ otal din p som en RR BM Ealimirn Gh om ee gmie. : . NUKOLe ess. 8 78 — 3 ; nn : : Lo 1938 High ..... 87.3 70.0 ' 99.7 83.0|Good and oe S00 tons The Jrevious Wesk Dui gen ci. i! wn as La. 1938 Low ,,.... 34.9 47.9 81.3 50.3| choice..$ 8.75 9.00] 3 Cmca. § 5 8.50] mined in the same week last year. |Sen Foods .... dls | S18 11) ET 1937 Mizhivies, 930 1013 1060 1% z wes J . en Se. Va a Ya 7a 1937 Low ,.(;s. 80.1 69.3 92.3 81.1/ Good and choice ..... cecsnsns. oh 3.75- 4.50 = Gen Motors ... 50% 50% 30% — ' 1936 High ...., 94.8 100.4 1063 100.2 Common and medium .7l.1i..l" 3.50- 3.75 GenTime 6 cu pf 99 99 99 — 1, 1936 Low. ...,.. 90.0 84.7 1035 93.3 1, 1 Ys [we ¥ J an : ; RAILROAD DEFICIT Soodyent po sit alt He = a (Copyright, 1939, Standard Statistics Co.) CHICAGO “LIVESTOCK IS SECOND LARGEST &fatiliel; i 28% BE ¥% Tf vos covinmmvr sows | moss mecep, goon; marker fay ec a en En tam an SEA odie il od te ci y - -. DS., WASHINGTON, March 6 (U. P.). HL of 1.11084 ea — 3 37s 1043-41 Mar.....10619 106.19 106.19) @ as. ie 386-350 a be. [email protected]; y =—Operations of the nation’s class|Homestake .... 65 65 65 — 3 Ss AL ieieis 11030 1030 130 0-1b. packing sows, [email protected]; as 1 ’ 0.10 110.1 ight Lee kinds u .40, one railroads in 1938 resulted in the —I— . 3las 45.43 vesses }io42 10.1) 110.13 Cattle—Receipts, 90 i Ca ves,: 1000; beef second largest, net, deficit in thelr (Inland SU joo ope op sp + w GRE Be HEE HER LEG tontase, anal dhe, marked ston 15 2 history, although fixed charges for nt Nickel .-.. 53% 53% 53% ~ 4 Set i stealeivesss 101.30 id 107.30 strictly choice He; prime jist athoni; Sh vem were Sl ee ER ER A I i a aa e sociation of American et lass : | 3728 ¥ ceeees103. . -29 | orders; $9@12 market; several . seis OBS 5, | 278 1960-55 +: ..s 05.31 105.28 105.28 @ s Railroads reported today. Johns-Man ide p5% (95% i+ | 99%s 1959-56 + onene. 10419 104.19 104.19 foadsc. sat aia; best yesriings, 1a; Combined net deficit after fiXed|gendan pr .... 81% s% + 1 1 3%8, 136338) ae: s ev 04 104 104 light heifers, $10.50; mostly [email protected]; charges amounted to $122,911,784, Kennecott .... 39 2 39 A Federal Farm Mortgage Bonds COWS, sirens. bulls, Srone in a Jigher er w for 1938,° exceeded only in 1932 Keystone stl So Y3 13 13 1 5, 34s 1064-4410. ........ 108.14 108.14 108.14 saiisage {reac yn 10 oo eatier ighty y Kresge SB& 3% 23% 23% + Ya Hom= Owners Loan Bonds and common and medium grade when the total net deficit was —1— 2%s 1949-39 ......... 102.16 102.16 102.16) killing heifers very scarce; stockers and 1 $139,203,821. Lee Rub ......31% 31% 31% — % 2s 1044-421 .[....... 104.28 104.28 104.28 feeders: mainly meaty kinds, getting com- ' DAILY P Hla Car ool 18% 19% 14 Tw DOMESTIC Sgn Low Last| no hee Receibts, 14,000; opening active on Toews .......: 50% 50% 50V — andy medium weight iambs; marke 3 RICE IND X : 1; 3 A TT 3%s 61 .......108Y, 108 108 | strong with Frida fully steady with E Lot Inc a 2398 5] 2998 os a5 Am TT 3Vas 66 “u..... 108 107% 107% Saturday: weighty Yétterings slow: early NEW YORK, March 6 (U. P)—| {B&O 425 60 CV eee. 14% 14%, 14}2| sales good to choice lambs, ibs. down, D & Brad [Beth Stl 3Y%s het eess.101% 101% 101% |[email protected]; several loads to packers and un radstreet’s daily weighted|ayacAna For 31 Pac. 55 54 ...... 9%, 99% 99% | shippers, $9.25: best held higher; sheep, price index of 30 basic commodities y acy RB oa 42% — LT GP Bur y 88 7 . gaat 0) 2 Se Lid native ewes around steady, compiled for United Press: | Call on XN [Int T&T 558 ees 13% 7312 734 + (1930-32 equals 100.) | | MiRtesmon oo: BN FMT ET is 32 ll 0% 1002 Toi Saturday 10621 Mok Taner bao NY Tenino gl #2 8) OTHER LIVESTOCK sess essssscsssesase : 158 i... . 3 2 /2 Week a0 .................010 Mont Ward ,.. 524 4 '% Seab Air Line 6 45°10 9% 9s _9%a| CINCINNATI, March 6 (U. P.).—Receipts Month go 105108 | Gnied, Brut fe 33 18 187 1802] salewbie, Som: otal shed: mo haidovels 5 I¥CArRE0 ... nes. rorerners, 113104 Nah E0LY ,.. la «... | OREIGN BONDS “ pes ry Ye. Jens Srp sees es esssssnvsasses Nat B uit ale 53; dees { i i 11939 high (March 1) ........ 10624 Nai Distilers” BS 361k 2% | Argent. 4s) 12 Feb nk oy Last $s 55a. -40; bulk good packing sows, $6. 25 4 ses 11939 low (Feb. 9) ........... 10463| Nas Lesa" . 3 Ll Aukiraiie ae $0.00 dese des 6s Catile_Receipts saleable, 800: total. 800 1 Igtum 1s “eae 3 y » 200; . Naf ‘Steet Lt 00 Brazil 8s he a 16 or ler Lee steady fo 5c higher; truckload 1560-ib: | Nat 3 raz 5 06-57 1... 14 1355 13% ; m to goo : U. S. STATEMENT [Nat 8% 2a B20 lee aT aon 110% 11075 | 1050 1bs.. [email protected]; ; part load good, 610-Ib. | N Y Central. 203% - ¥ Cuba 4Y%s 97 senvs. BO 55 55 fed heifers. $9.75; o lot baby beef S¥pe | WASHINGTON, March 6 (U. P.).—Gov-|{No Am Avn.. 18% .... Denmark 5%s 8". oe 100% 100%a 100% | yearlings, $9.85; load wis heifers, 35; ernment expenses and receipts for the cur-| No. Pacific 12% .... German 173 49 sveee 20Ys 26 26 {plain to good beef co $6@7: bulk sau- | rent fiscal year through arch 3, com- Gorman Shugiasl..) 20% 20Y2 20% sage bulls, [email protected]: pr Ty on 50 vealers. pared with a year ago: Italy 78 51 ..icecvese 65% 65 65 Sheep—Receipts, 100; market, steady on > | This Yea ast Year Oliver Farm Eq 27 27 27 == % Panama 55 88 .(...e0.. 60 60 60 light Supply; few lots choice 74-78 1bs. Expenses $s. iy 286, 057. 26 $4. Soe ba, 976.16) Omnibus ....:. 20 20 20 a Tokyo 5%28 61 |.ieveees , 54 54 54 lipped lam % $8.75@9; good truck-in few | Receipts 695,998.790.32 3.902,087.088.85 | Otis Steel 12% 12% 12% + Va er tom ; Western wool lambs quoted around $9.25} | Gross] Det, 3.3939 87,866.94 1.003.945.887.31 ovens Im Gi. 67 7 7 + Ya down; good and choice native eli ible, | Net De 2,307,542,066.94 950.972.437.31 Po. [email protected]; common and medium; $7@9; , Emin HEHEHE tie se 0 Cu rb Stocks |i agra oo _ » | Pub. Debt 39.927.798.705.04 37.740,576.815.38| LAC, G & El. 32% 32% 32% — % market i higher; 3002220 “ibs. "$3. " | Gold Res. 14.902.041.963.20 12,767.33 426.24 | backard ..-. He ip Jp —-0 Net |8:25; 220-280 lbs. [email protected]; 280: as ‘Ios. | Customs = 13,304.471.70. 266,708.319.88 Paramt Pane ng je +." High Low Close Change Si pear; SRR 1 Son Cave $1050 Penn RR .... 227 3% 22% i... «24% "24%, 24%, y, ; es, INDIANAPOLIS CLEARING HOUSE |Phillis Pet .. 40° 40 40° =n 38% 39 38 = 14) OL lambs, s850Go, Clearings $2.656.000 | Pitts Sc & B... 8 8 8 eee 22% 22% 22% + Vs| Market, 20 cents Digher; 8 200.2 1220 i Fo 125; EI BeDIts trans rinarrns: 7,986,000 Euiim gov... 51, 3, + 4% I 1% 1% oo 230.240" tbs. $8.10: 1 0-300 1 iy iets x Pullman ...... 8 2 0/2 = 9 eos 260 lbs $7.95: 340-350 I Da 80-300 oil °"9% 9% 9% .... Tigy 1, A. + ifs e7 65° 300-325 1 or 750; 32 8.350 1 Purity Bak... 14% H% U% — % . 1, i 1 Je ¥ i $7.95; 140- 160 The. i 80; 120-140 Ibs. $7. 3% Radio ..... ves 3% 8 8% + % 1B nga TT. Rough Jo /3 stags, $5.25; calves, $11; > SEE FINAL EDITION Rakio Kor es 13% 3B a 4+ % 62% 8232 62% } Ya lambs, $8.7 OF THE TIMES Rote of oP pm gi We lo lm I 7 LOCA : ; Reyn Tob B.. C 38% 38% 38% + Y% 18% 18% "18% ~ Je L ISSUES i eafme. «0s i 1, va = 35 The following guotatic s ! FOR Safeway 7 pf..111% 111% 111% — 3 Sis $11 Siu — 3 apolis Bond fs are Corp. ie > | Schenley Dist . 17% 17% 17% seve 67 6 67 4 Jp|sent actual bids or offerings, but merely | OTHER LATE NEWS Sharp & DPE. 307% 0° sr Sn Sy By pu Die ou inugte marke level Shell Un of. : 1313 3 3% + 3% 32% 32 Vg. - 32% + i recent transactions g' quotations o. > 8 ec.ceen — ay St - AND Solder Pre! 1 Tw 1 84% 84% 84% 13% Auto Invest Corp iii: i... oh 5% | ; ! eel 5 PR yt" Belt R R & Stock Yds com... 51 54 South” Pac 9% 19% 19% + Yi 8% % 8% — YilBel ol CLOSING STOCK Sonn By pf. 3 ayn nn = Colt die 1% TF 5s 8ent Tn Pow Ter Did Lil 3% 30% uth AY. .D 5 5S S- ) 00 + J Home T&T Ft Wayne 79. ... | UOTATIONS Seerrvgorp Ul Mf un oun +B af ou ow 7 Jo|Hook Drugs me com... 3 I | Q ATION sta Br ads > : 4 Ne Hn + 2 1087 108° 108% F.. %|Ind rich 19, pfd.....l : ba | | G&E 1 4 + 3%, 2% 2% {Indic Water be bi 10 . | Si G & E bf 8% 0% .. | 2 “3y, “3, _ £31 te 1 aes ies 5 '| 3% 3% 3% TL.” {1d Hvdre Electric 17 ; Ps +82 : *Indpls P&L 6% ptd . 99%, 02 TE LEFACT. SER Linco! nc Co com.. 26 'N Ind Pub Serv 3% dL. * [RENTS OF CITY HOUSES (U.5.A.19346) Chicago Stocks TERE ST 8, 8 ,] ‘0 : High Low Close|Progress Laundry Co co 4 Allied Lab Ing .. «oo... 1 15% 15% UNDER $20 ; OVER $20 Borg-Wemer I. gl Fi oi : i > ) veces 4 a A Comwlth Edison ...... 28 273%, 79 | noms Bante Rt i } Lindsay Light 1.100000 3 2 3 : Mid West Corn Srasasas 8 7% 8 Boi d ; i Nat Batt ery evens 31Y 01% 31 nds . ; | Oshkosh Bf: iH Lad see 30 3074 30% |Amer Loum 8s 46. ........... 95 100 Sears-Roebuck ........ 75 75 75 | Citizens Ind Tel 41h 1102 105 5 ‘south Swift Intl sieevesss 37% 27, «© 271 | Crabbe Revnolds-Taylor 58 a 92 100 | eae Tala ff ESSERE SE x Lenivl Radio ... ..ss40 { Comwith Ed 3%» '58.. 11012 110% 110% Ind Asso Tel 67% 100 eset tig —r———— 92 f ” Indols Railways Ine 5% 87" LOCAL PRODUCE (iseck Weird Inter Tel & Tel 3 Heavy hens, 14¢; heavy breed broilers, | Kokomo Water 5 % 58 a “109% 104% 4, ay and over, 13c; hens under 4'2 lbs. | Krusner Packing Co 4%. 50.. 98 1 a 13c; Leghorn lens, 8c; Barred and White | Morris 54:10 Stores 5% 50" 99%, 102% Rock springers. 1% ibs. “and over, 13c:| Muncie Water Wks 50 85. ...102 a i foloted 5 Has sts, 132 ibs: and ap. 1 2c; evils Lap 62% 47 ..100% 103% " 2 lbs. and’ over, 11c;| Ohio Tel Co- ........ ae . 00 " . Foster Shickens, 2 Ibs. and over, 13c; old | Public Tel Co 4%. 55 ...... 97 100 ; roos! . Richmond Water Wks 59. 49..103% 105 : No, 1 ‘stale uy, Jresh country run eggs, Seymour Water Wks 8% 49-..100 103 13¢;4 each full must weight 54 1bs.|T Haute Water Wks 5% ,.. Karan ross; a net. eduction of 15 cents for each|T Hauta Sater Wis 6% 49. 101 ss ; ug S35 | uw * 54 ae will be made. Tract Corn ..,...... ‘68:1 4 ab Yo 1 Ce Noa, 2, 26@ | Mapket St Investment Corp. ia 34

Ba * PENNSYLVANIA &

MARKET STREETS]

HORIZONTAL Aviwer to Previous Puzzle 18 Jewel weight, 1 Beautiful 2 20 To devour, youth from SIAL 22 To soot Th the Classic S 24 Rodent, & Myths. R LIL] 25 Kind of 6 His mother SEMIS N Japanese, as re H SE 26 Golf term, 10To contradi.. [SIN th 277To soot Japs spas. GREAT ON | 2 sore 4 L : 29 His loved : 12 Saline ; ones suffered - solutions, AlH U oe at his = 14 North i [© ; early death, Africa. 31 Wagers. 15 Bushel. *Tatiafetl ; -32 He spent only 16 Grain, 34 Distinctive §1 Unusually: part of the 17 Mama, seature, large, Year in ee, 18 Kind of 36 Idant. . VERTICAL 34Spring fasting lettuce. 37 Bill of fare. . ‘season. 19 Rhode Island. 38 Desert fruit. 1 Bower. 35 Morass. 20 Snaky fish. 39 Road. | 2 Vindicated. = 3 414 diggers 21 To gaze 40 Finger 3 Death notice. 39 mq wash fixedly. orname 4 Convent lightly» 23 Those who 41 Pine trees. worker. 40 Wealthy, receive 42 Cravat.. 5 Set down 41 Level, college 43 Hard quartz, as items. 42 Snare. degrees. 45 Sound o 6 Starlings, 44 Race track 28 Silkworm. SOITOW. | 7 Yes. circuit, 29 Black fly. 46 Eagles. | 8 Right. 45 Cuckoo. 30 Row of a 47 3xpert flyer. 9 Dwelling. 46 Native peach, series. 48 Maledictions, 13 Greeting. 48 Paid publicity 31 Hound. 50 — loved 15 Containing 49 Electrical 33 To soak flax. him. boron. : unit. I 2. 10 3 6 | 0 I 7 I 0 id

(the program with Tom Chalmers!

land Basil Ruysdael the, Xv

tionship of poetry to music, Archie _|bald MacLeish, Pulitzer Prize poet, and Bernard Herrmann, composer, -|will collaborate on the American School of the Air at 1:30 p. m. to=

Howard & Shelton Margaret Speaks Those We Love Margaret Speaks Radio Theater Hour of Charm Music Spitainy’s or. n-0 Breeze’s Or, pan 9a » ”» ?, nn Duis Or, . Emi |, Ken Rag Lombardo’s Or, Contented Hour True or False True or False 3 Eddie Cantor Information Forum Gardner’s Or. ol ” ” ”» ”» Spotlight 1 New Amos ’'n! Andy Durward, iby Paul Sullivan 10:15 = S. Kaye's Or. News Mills’ © Unannounced 10:30 Calloway’s or. Legislature enders o's Or. Cutler's Or, 10:45 ” 2 ”» ’ iad ”» i 11:00 Lucas Or. nh Music | Moon River 11:15 Strikes & Spares » 1 nn. "; . 11:30 H. King’s Or. 2» » Bi 9p Review 11:45 ’ ”.n Hawkin’s Or, Henderson's Or. TUESDAY PROGRAMS oa INDIANAPOLIS INDIANAPOLIS ‘INDIANAPOLIS CINCINNATI WFBM 1230 Ww. 1400 WIBGC 1050 WLW LR (CBS Net.) (NBC-MBC) (NBC-MB 6:30 Early Birds Devotions Tabernacle AAA Prog. 8:45 » Markets gp. Unannounced 7:00 nn. .o Tunes &| Tips Breakfast Jam Time te Shine 9:15 “ | ® neo on Peter Grant 5 ni ow» no» » » Chuye Wagon 8:00 Mel dies News J Cotte 1 Paul Allison 8:15 Seren Dessa Byrd Myrt & Marge 8:30 Apron Strings Baby Bulletin Fashion "Footiights Hilltop House 3:45 Playboy: Devotional Gospel Singer 9:00 Kitty Central City Matinee Living Guide ' 9:15 Farrell's. “Kitchen Other Wife pe So It Happened 3 9:30 Plain Bill » ”, Smilin’ xd 9:45 + Stepmother Women in White "il. The Goldbergs 10:06™ Mary Taylor David Harum Kay, Bartlett Linda's Love 10:15 Seca Lorenzo Jones Vie & Sade 10:30 Big @ Sist Jidow Bro State Police News 10:45 Life Stories ditor’s Daughter Shilkret’s Or. « Road of Life 11:00 Tower Town Singin’ Sam Student News Editors Sushi 11:15. Nancy James Linda’s Love Noon Rhythms 11:30 Farm Circle Dr. Malone School for Brides 11:45 | Farm Hour Boy Greets Girl Farm Hour } 12:00 Pari Bureau nn Back Home ", } 12:15 ws Headlines "rank Dudgeon Farm News : 12:30 - Bohemians. J WIRE Renorter Sleepy Hollow Invitation 12:45 Holiday Silhouettes in Blue ” ” Happy Gilmans ‘1:00 Lenten Service Betty &| Bob Hall's Or. Betty & Bob 1:15 Dr. a Grimm’s | Daughter Tropie Moods Grimm’ aa, Daushise 1:30 School of Air Valiant Lady Shut-In Friends Vailas 5 1:45 Church Ema Wirges’ Or. Chun A 2:00 Dentist rr Sweetheart Songs Piano Moods Mary Marlin 3 School Musie Progress, Parade Concert Hour Ma s : mphon ’ cer ou 2:45 Ymp ony Between Bookends on » Gu fing Ligh 3:00 nil Backstage Wife Swing Concert Mad WHatterfields 8:15 » » Stella Dallas Lillie Kin Club Matinee 3:30 Srortimen's Show Vie & Sade Home Forks Beautiful wife 3:45 women’s Fed. Girl Alone Kitty Keene 4:00 Before Senate I. U. Program Charlie Cook Hannah 4:15 Tea, Tunes Light Opera Zazoozologv Terry 4:30 Home Edition old Reetraing Jack Armstren 4:45 wow Basonology .. Honolul Paul Sullivan

Mr. MacLeish will discuss “Music

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