Indianapolis Times, Indianapolis, Marion County, 8 March 1939 — Page 17

®

common utility issues

MOTOR SHARES PACE MARKET;

TRADING RISES :

G. M. Within Fraction of High for Year; A. T. & T. At New Peak.

NEW YORK, March 8 (U. P.).— Automobile issues led the stock market higher in afternoon dealings today. Trading picked up slightly. General Mators came within point of its high for the year at 507%, up 3%. Sales of the corporation for the first two months of this Year broke all records for the period in its history. ‘Chrysler was at 83%, up 1%. Automobile accessory shares were strong with new highs in Kelsey Hayes Wheel .A and Electric Auto-Lite. A. T. & T. made a new high at 163%, up 1%. New highs were made by many others. U. S. Rubber

reached 51, up 13%. Du Pont spurted &

3 points, to 1523,. U. S. Steel, which

showed a small loss early, had a|Com

gain of nearly a point while Bethlehem was up more than a point. U. S. Government bonds advanced further into. record high ground in quiet trading on the New York Stock Exchange. Most of the issues traded in the early dealings attained new peaks

on advances ranging to 7-32 point.

Develop Mild Rally

In the domestic corporate list rails generally moved fractionally higher with trading picking up as the session progressed. Industrials were firm but utilities lagged. Curb stocks developed mild rallying tendencies after an early lower movement. Aviations were soft, however. Lockheed Aircraft was off 12 peint |g and most other shares in this group also were fractionally lower. United Gas firmed and other recovered after early easiness. New Jersey Zinc’ steadied on an initial gain of 1% points. Lake Shore Mining recovered part of an early loss of almost a point. Industrials declined fractionally in dull trading and then rallied moderately. -

FIRM CERTIFIES

ITS INVENTORIES i:

Move Held Outgrowth of mt

McKesson & Robbins Case.

NEW YORK, March 8 (U. P)— The annual pamphlet report of

Schenley ; Distillers Corp. for 1938 ;

\* wdisclosed that the liquor concern

a\

"\ o£,

has taken the unusual precaution of having its inventories certified as to quantity and condition, in addition to the customary auditor’s ex-| amination. This additional safeguard, regard- iy ed as a direct outgrowth of the McKesson & Robbins’ case in which some 18 million dollars in inventories were found to be nonexistent, was believed to be a precedent in corporate accounting methods. The inventory certification was conducted by Coverdale‘ & 'Colpitts, consulting engineers, at the request of the Schenley management. It attested to the physical condition and quantities of all supplies and materials held at the corporation's distilleries ani warehouses. President Lester E. Jacobi reported consolidated net income for the year at $4,050,173 or $2.44 a common

share, compared with $7,320,903 or

$5.04 a share in the previous year,

Curb Stocks

Net High Low Last Change Alum Co Am..118 116 116 —1 Am nege...»25 25 25 — Ark Gas _ 2% 2% 2% — Vg Asso G&E 9-16 9-16 9-16 -L1-16 Asso G&E . Vs 8 7g 1-16 Bath Ir Wks ...- 687 634 6% a. Bell Afr ...... 73% 273% 27% Bellanca Air ... 9% . 91, 9s — Braz TL P. 10% 30% 10% ree n w .s s 2 15 Ve Cent St El 9 3a Js 10% : Childs pf ...... 55 55 esse Colon Dev Ltd . 3 3 3 eve Col O & ie 3% 37% 3% .... Cooper Bes ....| 8% T% 8 4+ Y E LF pf. 202 20 202 4-1 ¥l h ... 11% 112 11% 4 1, El Bd & S 5 pf. 62 62 62 —_ Ford M Ltd 43% 4% 43% J Fru Trail ...... 1612 182 16% — 1; Gulf Oil ...... 39 39 39 — 3a Humble Oil 6134 61% 613% J 13 Insur N Am 66% 66% 66Y — Yi Kingston Pro .. 2 2 2 FA Kirkland Gold . 134 134 1%... Lockheed Air . 313% 31% 31% -— 3; Mead Johns ...142 142 142 + 1 Mont LHP .... 31 31 31 — 15 Nat P &L pf. 84 83, 84 4 3 NJdZinc ...... 59 59 5915 115 Niag H Pwr ... 8% 8% 83 lL Un Gas Corp 27 2% 2% 4 Va Yn 2% 2% 2% a,

FOREIGN EXCHAN GE

NEW YORK. March 8 (U. P.).—Fpllowing are noon cable rates on major

Cable RAt ei Change able es Ne an Foland pouty i gas r= 16 rt Zi iCanada (dollar) ..... 1-16 5 5 France tony seve, 0965% . Italy (lira) .......... 0526% —.0000% Belgium (belga) ..... 1682% -—.0000, Gefuany {nark) cess 401313 = 2000:4 Germany (tr. mk) .. .2225 -.0005 Switzerland (franc) . 227414 ~+-.0000> Holland * (guilder) .. .5316% 4.00025 Sweden (krona) .... .2415 —.0000%> Norway (krone) ... 2357 ~—.0000 Denmark (krone) .... .2094 —.0000%2 Spain (Pranco pes) ... .111214 seve (U. P.).—Apples— bu. [email protected]. . hampers, bu., 30@60c Tomatoes— Cauliflower— Peas—CaliCelery—PFlorida, Onion market (50-1b. 0@85c; Iowa yelyellows, 85@90c;

1.27%: Colorado ; Colorado yellow

&

‘RECEIVE GOLD SHIPMENT

@

LONDON, March 8 (U. P)—Al

shipment of Russian gold amounting to one million pounds sterling ($4,692,500) arrived yesterday aboard the Soviet steamer Mironych, the

* largest consignment of Russian gold

in recent months,

{ = SEEFINAL EDITION | OF THE TIMES FOR OTHER LATE NEWS AND

~ CLOSING STOCK

12 13

| WEDNESDAY, MARCH 8, 1099

/

Lo

INY S

By Ur ited Press

a DOW-JONES STOCK AVERAGES : High Low Last Chunge 30 INDUSTRIALS dams Exp .... 9% O% 9% ....: | Yesterday .....: as ueaes rear 149.87 0.53 Alaska Jun .. 9% 9% 9%... | Week Ago Sh Hip Ip eg. orp «sco } sses Month AZO ..cocesseevcociss 130.40 . Am-Haw 88°00 145 5 WE al Wear Meo orieinans Wie 125.67 0.34 Am Home Pr. s5a 455 3% sone, High, 1939, 154.85; Low, 136.42, CO i : — 8 . 45 Rad & SS. 163% 18% 1694 ¥ a High, 1938, 158.41; Low, 98.95 A I MB Bp: 20 RAILROADS ;,_, . 9 am Su D ne. 751 15% 75Y; ‘— Va|Yesierday ....... csensessrera 80 -0.27 Am Tobacco... 88% 8 8% 85% Fh Werk Age ....ecocrerisusees $243 aa Am Tob B ..... 8 = 3 iMenth AZO ....cocasessecesss 30, X 1 -— 3a} ! S SN ale Wier 13 i nn weve . Year AZO .....veeecasecnnsnes 27.31. —0.34 Armour Ill vx; 5: 5, sere High. 1939, 34.33; Low, 27.93. Armstrong Ck.. 47% - 41% 30% = 2) High, 1938, 33.98: Low, 19.00. chison ...... {Atl Ref pf A...107% 107% 107% + 98 15 UTILITIES Atlas Corp .... 8% 8% 8a «ive Yesterday 25.97 10.19 1 i = 3% ay . |Week Ago ... 25.85 ... Bold. Hem % 8% 8% .... |Month Age 25.99 40.37 Bendix Avn Av 3 330 ove (Xear ARO ..iiiiieanen araveye 18.98 —o0.02 Beth Steel 2 al pn High, 1939, 26.09; Low, 22.30. 1 1 1 3 » ' Bet] Steel 75113 x Gora 30a ii] High. 1988, 25.19; Lew, 15.14. Boston & Me 2% Va 2 + 13 Y + Brisgs Vy 1 of". hae Do in + Bh High Low Last ds y= PD aE Bucyrus E 7 pf 100 100 100 sree (Mont Ward ... 5238 52% 52% + Ys Burroughs by 1% - i 1th 5h Motor Prod ... 16 16 16 ies utler Tos. ’ 78 78 7s “3 Ni 7 lim ’ Nat Biscuit ... 263 26 26% + Ya Cannon Mills + 33 32 © 32... |Nat Cash Reg . 233% 23% WN — % pL.’ L123% 122, 122% .... Nat Distillers... 27% 27% 27% — Caterpillar T'., 51% 51% 51% — Y. Nat Gypsum ... 16% 15% 15% + la Celotex ¢.....7. 17% 11% 17% + %:!Nat Lead ...... 23% 23% 23% — 4% Cerro ¥ie Basis. 2% 42%; 2% — Y. Nat Mal & Stl C 25 25 25 + Ya Certain-te 11% 1% — Nat Pwr & Lt.. 9% 9% 9% + Checker Cab “ 10% 10% 10% <4 Y.iNat Steel ...... Ma 1Va TMYa + % Ches & Ohio . 38% 38% 38% — 13:|Neisner . vie 23a 23% BV 4+ Chrysler ....... 82 82 82 + Y.IN ¥Y Central ... 20% 20's 20% — Ya Climax Moly: Co 50% 50% 50% J ¥ C & 5... 21 21 21 + olgate P-P .... 15%, 1534 153% .... NYC & St L pf. 36 36 36 + Ya Col Broadcast A 1834 8% 18% + Y%.!No Amer ...... 2534 25% 25% — Ys Colum 8 8% + ‘1. No Amer pf ... 56% 56% 56's + J Col Gds bed AL? 89'a 89% 89%. + 1.{No Am Avn ... 177% 17% 11% — 3% Creal, c+. 58% 56Ys 56% + 1.iNo Pacific .... 12% 12% 12% + Ya Ruano BE i eve Comwlth & So . 1% 1% 1% — 1 [Otis El pt_..... 143% 143% M3% + % Cong Nairn .... nt 3% 285; + 3. |Pac Gi & El... 33% 33% 3% + 7A Cons Edison .. 337; 333 33% + Y. |Pacific Mills .. 14 14 14 + Vs Cons Edison of. 10734 1071 107V, 4 7% {Pac West Oil .. 11 11 11 + Cons Film pf .. 11% 11% ) 11% — VY; |Parke Davis 43% 42% 42% .... ” Ce LNs BI BET SEEIEELC ME BE Mol Cont Ins ...... 34 5% 3 atino oo Va a a — Va Gont Mot 1: Na 3 © IE BIRTRE 2214 33% 32% + Cont Oil Del .. 2634 28% - 26% J ¥% [Phelps Dodg .. 40% 40% 40% .... Corn Prod ..... 65% 65% 65% — 1% |Phil Morris -102, 102 2 ety, rane CO ...... 32% 32% 32% — 3 Phillips Be 0 40s 40% 4 a + Cream Wht .... 30 30 20 4 vy | Pitts & WV - 13 13 = iy Crosley Corp .. 10% 10% 10% + Press Stl Car. 1134 113% 11% — Curtls Wr"... 8la.. 84 64 ~~ Yq Erocier & G . : 35a MB... Cutler Ham '... 22% 22% 22V; — [Public Serv cee Pure Oil ..... 9%) 91, 9h — (oi=D=e PT ak 10 19% 13%... Deere & Co .... 2273 22% 22% ..... —R Pe oy BE Ee hu Dunhill ..... 2.12% 712% 13% °~2"'y |Rayonier oo 1% 14% 1% + Du Pont... 49ve e%e 10% Tv Rem Rina Wer Wp Myra woe : * | Republic Stl i aii Ah 2h — YA Edst Kodak ...175 175 175 cose Reyn Tob B ... 38'2: 38Y; 382 . Eitingon Sen “ 3% 2% 9% ... Richfield Oil .. 9% 9% 9% + % Eel 3 5 iz eo Tr a EP SLToi an My mu T mew opto omoon Bnd Johns pf . a 104% 104%, we Schenley Dis "pt 73 73 . 73 on Pub 8 .... 11% 11% 11% + '% ars Roebuck . 75 75 5 sess Firestone T ... 24% - a Pr allt uy restone eels 7 5 3 1% Simmons ..... a 2 Flintkote ..... 38 i 38% a X % SoCal mail fT nn Preept Sul ...... 23% - 23Y, 23Y, J 3, South Pac ..... 18% 18% 18% ... uth Ry pf 0% 30% 30% — Y% Glee Sper-yiCorp 44% 44%, 44 — 1 oes 103% 10% 10% ....* Sbiece] ne 16%. 16% 15% — Ya . 3% 33% 3s + Ya Sfa"Srand Tos Pf. 3% 13% 13% — Y% 153% 15% 15% . HE S Brang Ss 1: q 7 cans .. 41% 41% 41% - 1, 8 Cal...., . 28 28 8 -— Ys J 40% 40% 40% ~— Y, Bid Si NJ.... 49% 49% 49% — Ys 8% 98% 8's -~ 33 Stew-War ..... 11 11 1 oat 503% 503s 503; -— 13 Stones & e 1515 1§! 15% 4 Ys 13% 13% 13% — Y Studebaker 83% 8 83% 4 1s 23% 23% 23% .... on Puseniss 607 80% 60% <4 34%a 342 34Y5 J. VY; Superhtr ...... 35% 353% 35% +4 % 3a i% (4s 14 Syming could x Va .... 2 /2 tA me [ree 233 3 3 We WE B/A I Krenn cor A 7% 2% 21% 4 vy, Tex Gulf rod .. Bla 5% 81 ... 213% 21, 21% — 1; Tex G Sul ..... 30% 30% 3p's + "v 1%, 13% fag [..” NdeW BR . ay Ba Be — 1h , | T} an cess wm [Twin Coach ... 10% 10% 10% — % Iu Bu BY — 1% a . 3 H Hy +5 Union Carb ... 84% 84% B4% ... 1% 7% 1% Loi Pacific . 102 102% 102% .... Hud Bh uI 2s. en, alrerate os uds . y 3 | tee Y ose on Motor ™ Ts TR vr... Uhiied Dears. 0 8d Boon sen omy : | Un Dyew: of. MNY% TNY% NK... Hl Central .... 17% 17% 17% — 8% Un El Coal ..i. 5 5 5 + % Ill Cent of .... 30 30 30 +' 1% Un Gas Imp 127% 12% 12% .... nter BRT ..... 8 8 8 eve. (Un Mer&Mfig 9% 9%, 9% — 1 Interlake Ir 13 13 13 — ¥%,|US For Sec... 9%, 9%, 9% — Int Nickel pt’. [138% 1362 136% — 1,i{US Gypsum 103 3 03 .s ue Int P&P. ......] 12% 13%, 13% + 1, US Pipe&F 46% 46% 46% - Int T&T ...... 9Y, 9, 9, a US Realty . 5% 5% 5% 4 Int T&T For .. 9% 9% 9% . US Rubber 49%, 49% 49%, —a = Riba pf 109% 103% 109% + : tee] ....... ly = Rema AH BOB roms gag on . edse g seats /8 ese Ee : —_— We Leh P Cem.... 247% "24% U% .... Walworth ..... 7% TY Ty eee Lehman ...... 25% 25% 25% = 'Y | Warner Bros .. 5 514 3h HG jro-p Glass 0 0 50 «ve. | Warner Br pt. 422 42Y, 42Y3 4 VY, Loft, *Inc ae 10° 10 fo + 3 | Wauies PP ute t 3, 3 2 3 es s | Waukesha 0 ; , 2} Lone Star Cem 56 56 56 — 1, west Auto_ Su 2% 29% 20% + 43 —M wes} air Bke » Va 3 Va » Ya 3 aek Tr. ..... 28Y, 28% 28% 4 Yi! white S M of.. 20 20 20 + Macy RH ..... 42% 42% 423, + Ya | Wilcox O&G 3 3 Yh — 1; Magma _....... 34% 34% 31% . | ily Overind 23a 2.3L... Manaii Sug... IK In Che LL bwishy pr... afi 4X MeKeespors 15 15 3 + %| Wools orth cere 49% 49% 49% — Us Mesta Mach .. i 38 3 we Wows Mident 15%, 51 '% Yellow BE sale 19 19 aves Midland St ‘pf. 11 111% 1 rve 3 oung Sheet .. 403%, 49% 49% — 12

'TOCKS

"38 Sales Dipped Faster Than

Inventories, Survey Reveals

The

in Ja

said.

February,

Freight Cars.

nuary. |

CONTRACT AWARDED FOR 15 NEW ENGINES

Maine Central to Buy 300

NEW YORK, March 7 (U. P.).— - Union @ Pacific awarded a $2,400,000 contract for 15 type 4-8-4 locomotives to the American Locomotive Co. The Maine Central announced plans to purchase 300 new freight cars and the Lehigh & New England awarded a contract for 100 freight carriers to the Bethlehem Steel Co. The Wabash Railroad is planning to purchase 35 caboose cars, it was reported. Railway Age reported that in February railroads placed orders for three locomotives, 2004 freight cars and no passenger cars, compared with eight locomotives, three freight cars and 47 passeriger cars

today had].

1938, awards included .117 locomotives, 109 freight cars and 50 passenger cars, the publication

<The February tabulation by the magazine does not, include an order for 40 locomotives. placed by the Southern Pacific Railway. :

NY Bonds

20 20 20 Inds. Rails. Utils. Yesterday ..... 87.5 62.2 101.6 Week ago ..... 86.9 | 60.7 102.8 Month ago .... 88.3 59.1 100.8 Year ago ...... 80.7 61.6 92.6 Two’ years ago. 94.5 100.0 164.5 1939 High ..... 87.5 62.2 101.7 1939 Low ...... 85.6 56.9 99.1 1938 High ..... 87.3 50.0 99.7 1938 Low ...... 94.9 47.9 $1.3 1937 High ,.... 85.0 101.2 106.0 | J937 Low ...... 80.1 69.3 92.8 1936 High ..... 94.8 100.4 . 106.2 19368 Low ...... 90.0 84.7 1035

: BOND PRICE INDEXES

20 Bonds 83.8 83.1 82.0 8.3 99.6 $3.8 80.6 83.0 90.7 100.7 81.1 100.2 93.3

(Copyright, 1939, Standard Statistics Co.)

/P. 8. GOVERNMENT" BONDS ’

Treasury Bonds

High . Low

2%s 1947-45 .........108.17 108.17 47,8 1952-47 ..eee0+..120.13 120.13 2%S 1965-60 +.icgqe..104.7 04, 27%s 1960-55 ..e.lee.. 106.10 106.4 ° DOMESTIC BONDS High Low B&O ref 5s D is; doy Hn 213% Beth 2 394% 86 10332 Can Na Ry 5s Can Pac 4s i-W Ind cn 4s 52 ev Un Ter nt T&T 4's 52 He £305 i u Ar N Y Cen 40s ‘2013 'n... 60 59% Para Pict 3s 47 .....-101'2 101 Penn RR 3Ys §2 ..84% 84% Rep. Stl 4s 3 94 Wabash 5s B 0 9a Warner Bro Bs oo .:100 90%

. FOREIGN BONDS

108

Last

108.17 120.13

104.7 106.10

Last

21% ~103%

102

: High Low.’ Australia soeeaid 2 : 101% Australia & . i) ares 9 97 Brazil. 6! s 315 . sewas 3 12

¢

te

119% 99, Nh

Last 27%, 137 12% 103

4

Sales in "the manufacturing, wholesaling and retailing flelds declined more rapidly than inventories in 1938, a survey by Dun & Bradstreet, Inc., showed today.

Reports received by the authority ‘rom 10,000 conce disclosed a deline in manufactugers’ dollar sales of 12 per cent, wholesalers 10 per cent and retailers 8 per cent.

The survey placed year end inventories of the reporting manufacturers & per cent below the close of 1937, wholesalers off 8 per cent and retailers down 5 per cent. “Because analysts have found,” the review pointed out, “that questionnaires are always answered more willingly by the man who has relatively good things to report, the agency considers the survey results as to sales trends somewhat more optimistic than would be indicated, by a complete picture of busin ess. ”

Taking this into consideration Dun & Bradstreet estimated 1938 sales of all manufacturers at $51,604,000,000, a decline of 15 per cent from 1937, wholesalers’ volume at $20,144,000,000, off 13 per cent and retailers’ at $35,593,000,000, off 11 per cent.

The survey said that no .adjustment was made in the inventory figures, however, . there is no, available basis for correction, and: partly because the figures: reported are thought to give a truer picture of the general situa- |De tion than in the case of sales.” “Although the volume of sales estimated for 1938 was lower than the 1936 totals in each of the three broad fields, inventories were back to 1936 closing levels only in the Wholesaling division,” the survey declared.

DAILY PRICE INDEX

NEW YORK, March 8 (U. P)) — Dun & Bradstreet’s daily weighted price index of 30 basic commodities, compiled for United Press (1930- 32 equals 100); Yesterday ...veeevieriinia... 106.19 WEEK 880 ..ussrcrrenersses., 106.24 Month 880 .e.eveseesnanessos 10513 Year 820. .. 0... icciveensns 11240 1939 High (March 6)......... 106.47

--- | Bearish outside markets encouraged

+to % cent.

+| pressure developed on furthet losses

+ weather in the winter wheat belt,

NEW YORK, March 8 (U. P.)—|M

“partly because 2,

" [WHEAT LOWER AT CHICAGO ON FOREIGN TREND

Corn Follows Lead and Oats Also Develop Weaker Position.

CHICAGO, March 8 (U. P).—

selling of wheat on the Chicago: Board of Trade today, and Peles declined moderately. At the end of the first hour wheat) was off 12 to % cent, corn off 3 to 3 cent, and oats % to }4 cent lower. Active selling of wheat at the opening carried local futures off s The decline was temporarily checked on scattered commission house support, but renewed

at Winnipeg. ‘Weakness at Liverpool ‘was responsible for the bearish North American markets, Foreign demand for North American wheat continued slow. China was reported in the market for Australian wheat again. ‘Weather reports indicated dry

with the forecast indicating no moisture in the Southwest. Corn prices were influenced by weakness in wheat. Resting orders were uncovered on the decline, but the undertone remained easy. Liverpool reported lower offerings of Argentine new crop corn. Local grain receipts included an estimated 68 cars of corn and four cars of wheat. i

CHICAGO GRAIN

U. S. STATEMENT

WASHINGTON, March 8 (U. ernmems EXpenses nd receipts it fiscal year pared with a Jor a Tough Mazen 6

P.).—Govfor the 6, com-

bis ‘ Last Yea Expenses ,.$6.100,457, 301. 59 sa 953.6 Receipts .. 3.735.730.718.37 . 931, Sos: 29s. a3 Gross Def.. 2,364.726.433.22 1,022,256, 1022.95 Net Def.... 2.3 78,783.22 69, 084, 172.95" Cash Eal.. 3.301,273.547.03 3.004, 017, 662. 34 ork al. 244) Jpeaup 1245.448.74 ..39, . y .89 37.7 old Res..14,916,417.892.50 1 2768; 83a "330-86 86

Customs 216,246,993.21 268,926, 816: 9 INDIANAPOLIS CLEARING HOUSE Cleanings ssseesuee

+ee00..$2.800,000 cssevenessresen evens enees $6,297,000

EXERCISE STOCK OPTION

NEW YORK, March 8 (U. B). de Loew's, Inc., has advised the New York Stock Exchange that Louis BE. Mayer, ‘Robert Rubin and David Bernstein have exercised options ior purchase of common stock of the company at $40 per share in’ the aggregate of 66,666 shares, it was announced today, TYPEWRITTEN LETTERS...

PE as EXCLUSIVE 20TH CENTURY MIMEOGRAPHING UP TO 14X20 ON BOND

PERSONALIZED AUTOMATIC

«MULTIGRAPHING “STENOGRAPHERS WiTwo NOTARIRS

1939 Low (Feb. 9)............ 104.63

2. Loa

the newe on applic

519% HOME LOANS

I. Interest Rafes as Low as 52%

Two. plans for quicker ownership of your home. Interest rates which vary according to your home.

A Plan for Every Purse

Merchants Bank Bldg. ~ ARKET 3559

ns Paid Up in 8 or 12 Years

See Arsenal . , . for

r mortgage loan. Quick action ation at local office,

RE 5901

PAGE

WEEKLY INDEX OF BUSINESS TREND PREPARED BY ADMINISTRATIVE AND RESEARCH CORPORATION NEW YORK : 1 1926 = 100 Ho v oi VLE ¥ Foe Fo Tr Tr E TFT lang Tr Try TTT 111] : : : : L om. p 100 seb 3 tar 100 s Rees bof $ oo % i 3% i 7 al J ¥ [HI 3 0 7? aes” bf x v ! AV ¢ Tot, : “ : . offralloze | FEC As J IS So, - 1938 4 s S 70 077% # | Sed eT i rT | Mat wb A s 60 \ NT . 80 30 2 1 1 pb AL Lil 10 HREEERRE) 333 10 1.1 bed Lobedboiund, A0 (JAN. PER. MAR. APL MAY JUNE JULY AUG. SEB. ORI. NOV. DRC.

Hogs, Vealers Show Declines At Indianapolis

Following “yesterday's sharp decline of 15 to 25 cents, hogs at Indianapolis today lost another 10 cents on weights above 160 pounds, according to -the Bureau of Agricultural Economics. Lighter weights held. steady. The top price on 200 to 210-pounders declined to $8. Vealers sold 50 cents lower to establish a top price of $11. Quality considered, lamb values held about steady.” The bulk of receipts sold. downward from $9. -

(All Receipts Are Salable)

ney March © Top Repts.)March Top Repts. Opening prices today on the Chi-| '; _ 5 830 28 6 ....3 835 529 cago Board of Trade, as reported 2: a0 450 13 na SI0 Tes by Thomsont & McKinnon, were: Adi mn Wheat— May July | Sept. | parrews and Gilts | Paceking “ows $.68%@.68% §[email protected]% $.68%4 good and a- 334. -$ 313 13 Corn— : oice— 0o . 140- 160 $ 7.25- 7.95) 425--55¢. 6.75- ,7.15 oats. Then SNe SL |S) 8) TT. fhe 28% lin 265 | 180- 200. 7.90- 3.16 275- 550. 6.50- 7.15 yee | 30-350 795. 30)cood asd Cholee 1 - y - 8. an oA5. @A5% A04 5: 290. 7.45- 7.85] 100- 140 $ 7.00- 7.7 WAGON WHEAT 3%0- 300. 7.15- a. 60f Medium, 6.50- 7.25 Cily grain elevators are paying for No. CATTLE (Receipts, 1375) 1 red, 5c; gthier grades Sa a TE Cholce Steers All Wei Rul , new No ellow, 43c. ats, Sy om, Me y 780-900 $11.00-12.50 ‘Gd SPS T00- 7.50 1100 Mediun;.. 6.50- 5 LIVERPOOL WHEAT 110-1300 it: 30- 12: i Cut, wom 5.50- 6.25 | Prev. 12500000. 9.25-11.35/Al1 Weights High Low Close Close | 999.1100. J.80-1i801 Choice 310.50-11.00 March, old . $0. 607 $0.60% $0. 60% $0.61%. [1100-1300. ' 9.50-11.50| Medium . 9.50-10.50 Mim pew gh, HEMI gm Jol. oii Colne yo og, ay, o . «82% . 62% m— . 5.00- 8. May, new ... .60% .59% 80% 60% | 750-1000. 8.75- 9.50 Calves MAY iia 62% 61% 61% ,62% 1100-1300. 8.75- 9,75’ (Receipts, 525) —————————————————— Common Plain— J oice— 50- 000. 17.50- 8.7 250~ 400 $ 8.00- 9.00 LOCAL ISSUES Sa. LR on Heifers Medium. . 38- 7.00 The following quotations by the (ndian- Tho 900 $10.00-11.00 Common 3.00. 8.00 apolis Bond & Share Corp. do not repre- + Stocker Cattle sent actual bids or offerings, but merely 780. 900. 9.00-10.00! © indicate the approximate market level pedium— " |Good— based on buying and selling quotations of| 550- 900. 8.25- 9.00; 500- 800 $ 8.235- 9.25 recent transactions. Common — 0, aa 200-1300; 8.25- 9.25 - .. 6.75- ‘Medium Stocks Bid Ask : | 00-1050 7.30 8.25 7 9 Cows Gommolt, 7.00- 1.75 54 [Good ....$ 7.00- (5 oe Medium . 6.50- 7.00 Good and Choice— 40%; [Common .. 5.75- #30 500- 700. 7.50- 8.25 5¢ | Low cutter | Common and 13 and cutter 4.25- 5.75 mediuni. 6.00- 7.50 4 er SHEEP AND LAMBS (Receipts, 671) In % 103 wis Lamty Tike ea 0 pfd.. Nn 131, Good and Go ndpls 0. vaiasnreninens 3.1 ese abs 881 55 in fo Soy am son J vp 030 ndpls pid....... - 8 Lincoln Nat $2 Inc Co com.. 26 28Ya Hk) Ind Pub Serv 5%29% pid 85 88 |Good and cholce........ ...$ 3.75- 4.50 N N Ing Pub Serv $% bid. . $04 /2| Common and medium . 3.50- 3.75 Epes, fauna dogo 1 11 ot u erv 0 0 I Ze 4 on Pub Serv Co of Ind 7% "Bd: 58 61 CHICAGO LIVESTOCK So Ind .G&E 4.8% pid vi... 96% 99% Union Title CoO COM. ..eevovees 25 28 Hogs— Receipts, 10,000; market, ‘mostly | ‘T Haute Elec Co Si aiesaae 9 00 steady with Tuesday's average; spots, S@ YD sO on eld She 38.10! good and © Oice 160-330 lng 3h joo. n Cam FA 8 p Milk € com’ 0 1% | 810; 240-270-1b. butchers, $7.65@1. 280Bonds 350-1b. averages, [email protected]; good iE Amer Loan 55 46 ,....... yop | 2nd heavy packing Sows. '[email protected]; light Citizens Ind ‘Tel 4%s $1 ....102 105 Crabbe Reynolds-Taylor bs 43’ 93 100 | Cattle — Receipts, 7500; calves, 1000; Home T&T Ft 5% §5 105 yearlings and well- finished weight, steers, Home T&T Ft W 6% 43 106 |steady: others, siow, steady to wea } Jear jnd Ase 6% 65 10a lings args] shi ipper Semand Tairly road In e 1.50 w Indpis Railways Inc 5% i 100 $s! i paid for approximately Td60-1b; ndpis. ter 3: | 107 | averages; not much well finished enough Inter & Tel 100. | to sell above $12.50, however; best yearRrnonse Paso wis Fo J er: oi i it rusner Packin 0 er; cows, AO, . Morris X10 stores 3% gg 9. . 99% 0. interests ying; Np to siondys Weighty uncie Water s 5% 65.. 2 sage s Noblesville HL&P B10 re 47 °..100% 103% | kinds in load lots, $7 38, i weak at Ohio iTel Co ......... 0. 98 "| 100 |$11 down; few, $11.50: stockers and teedPublic Tel Co 4%% 55 ...... 97 | 100 |ers strong to 25¢ higher for week to date; Richmond water Wks: bi 3. 103% 105 easy feeders up to $10 and yearlings to eymour Water 4 He War wisi w 100 9 | sheep—Receipts. 5000: late Tuesday fat T Haute Water Wks 6% 49..101 | ,.. lambs mostly Steady; 2 $9.25; bulk: jh Trash (erm Coro .......... . 65 | 68 Sy 30011518 d weights, s4. $8. 80/29.19 Ln iv | eep, stea good ewes : today’s Market St, als ment Cor 24.46 24.71 | trade fairly active: about steady on al By M. Co.) classes: good to choice lambs, [email protected]; yearlings, $8 down; bulk choice fed Western ewes, $5. High CINCINNATI, March 8 (U. 2.).—Hogs— Aviat & Tran ........ 4% ow Last | salable receipts. 2200: total, 3700: holdover, Bendix Aviat .......... 27% 27% | 27%, |170; market, steady to 5 cents lower; wp Borg Warner ..... vee 21% 2% 2% $8 10; 22 to" 250 Ibs, $7.95: 10 140 Sent a 5 2 ceveseess 15 7% | 975 Iso d5 [email protected]; bulk good Ao SCWS, en LA 8/ Chgo Corp ........ 178 13817 Cattle Receipts, salable, 300; total, 300. Chgo Corp cv pf 37, 38 |Calves—Receipts, salable, 200; total, 200 Comwien edison 275s | 2734 [Supply light, action fair, steers and Jieifers Deere Chvisse ven 23° 23, uneven, strong to spots, 15@25c fugner, Elgin Nat® Wat “es 2134 | 213, | bulls, steady; load around 1025-lb, fed 50, | 504, | Steers, $10; plain to medium, mostly” $7.50 343, 341, | @8.75; bulk good heifers, $9@ 9.50; good 237, | 2373 beet cows, mostly $6@7; bulk. sausage bulls, : Jie $n pleep—Receints, a salable, J te 2 sioply Mid W .e . arke stea dera ply, Montg 0% Corp somes ov; h around 50 ori mean Re good 90-lb. fed No'west Bancp 85% 89. Western lambs, $9; around 60 head, choice Poor & Co B . A 1414 | 1474|78-Ib. clipped lambs, $9; few common and Quaker Oats ..........122% 122% | 1231, | medium natives, $1as; slaughter ewes, Boss Gear ..... ee 8 v 3. S Dd a Str essncece Hh Lo 13% QAI SEBEL % | a | LAPAYETTE Maren (0. £).—Hoge > ®sssseses TKe Zenith Radio ......... 0% 20% 20% 7.90; 230-280 1lbs., $7.50@7 i390; 700-325 1bs., 7.20@"7. 35; 160-200 Ibs., 60@ 1.80; pigs, roughs, $6 ne "down, Ca ves,

8 down; $10@10. 80. "Lambs $8.50@9,

FT. WAYNE. March 8 (U. arket, 10c lower; 200-220 Hi $7.70; 160-200 1bs., 0

120-140 1bs., $6.95; 120 lbs., $6.70; roughs; Je 50; stags, '$5.25. Calves, $11. Lambs, $8.7

LOCAL PRODUCE

Hea breed hens, 15¢; heavy breed Dros 4%, Ibs. and over, 13c; hens, under 4Ys 1bs.. c: Leghorn y Barred and hite Rock springers, over, 15c; colored apriigers, up, c: Leghorn _ broilers, over, 11¢c; spring chickens, 2 lbs, and over, 13c: old roosters, 9c. No. 1 strictly fresh SouniIY aT 45 ge 13c;: each full case must wei gross; a net deduction of 158 for’ oh full case under 54 Ibs. > ill

This Chart for Week Banding. March 4

7904 ‘sudden internal hemorrhage.

0 law at the University. of Texas and

5'as local attorney for Ardmore, In-

institutions to be created. While

:| private chartered banks, it is also

Butte er=-No, Id N Braa@ite: "Ne. ad ov 3 butterfa 0. Ne. 2, o 2615¢} (Pri ed quoted by Wadley Co.)

RAIL PRESIDENT DIES IN CHICAGO

Atchison, Topeka & Santa Fe Head Ill Since First of Year.

NEW YORK, March 8 (U. P.). — Samuel T. Bledsoe, president and chairman of the executive committee of the Atchison, Topeka & Santa Fe Railway, died early this morning in Chicago, according to an announcement today by the local office of the railroad. He had been confined to bed by arthritis of the spine since the first of the year. Monday his condition became critical when he suffered a

A native of Clinton County, Kentucky, Mr. Bledsoe: went into the growing West for his education in

for his first practice in the Indian Territory, later Oklahoma. He first represented the Santa Fe

dian Territory, in 1895. He pro-

gressed steadily to attorney for the| 6:

line for Indian Territory in 1907, general attorney in 1912, assistant general solicitor in 1915 and general cousel and director of the company in 1918 In 1931 he became chairman of the road’s executive committee and two years later was chosen president. He is survived by his wife, Mrs. Talitha B. Bledsoe; a daughter, Mrs. Bartlett Cormack, Beverley Hills, Cal., and a son, Virgil T. Bledsoe, Phoenix, Ariz.

TERMS LEGISLATION THREAT TO BANKING

P. A. Benson Charges Bills Would Raise U. S. Debt.

NEW YORK, March 8 (U. P).— Some bills pending in Congress represent a threat. to the American banking system, Philip A. Benson, president of the American Bankers Association, asserted today at the opening of an Eastern Regional Banking Conference. He said that the | Government

eventually would be unable to tax 11

and borrow funds for social programs and declared “if “there is to

he genuine recovery capital must, 1

be reassured and must be willing to go to work in productive enterprise.” He urged greater stimulation of individual thrift as a means of selfsupport when governmental social programs fail. “I need not tell you that there are still forces at work which threaten our banking system,” he declared. © “Banks have often been charged with responsibility for the nation’s economic ills. Even now there are, bills pending before Congress which, if enacted .into law, will transfer the function of extending credit from private hands to politically-managed government

this is a threat to the business of

a public danger, for it would tend to increase the public debt and would result in losses being borne by the taxpayer.”

TONIGHT!

RADIO'S NEW ES Eh) 3 3

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The new equipment

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with

Alfred Rheinstein.

» # »

8 o'clock tonight, “Star Theater.”

Murray as M. C.

® = =

» » »

ON THE RADIO

Ft. Worth Exposition and Livestock

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

NBC will salute its local affiliate, WIRE, at 10:30 o'clock tonight from: the Fountain Square Theater stage in honor of the recent installation of a new transmitter and plant. : includes laboratories for television and facsimile experiments and an observation room: where visitors can view broadcasting operations. Indiana artists who will appear on the proSoperatic basso; Carl Baker, baritone crooner; Miss Dessa Byrd, organist, ‘and Harry Bason, pianist. -

A new program, all about the New York World's Fair, will make its debut at 8:30 o'clock tonight over MBS. Called “Welcome Neighit will consist of informal welcoming talks and lots of fair information. In ensuing weeks, the program will feature informal disall types of fair

Appearing on tonight's program will be Mayor La Guardia, Police Commissioner Lewis J. Valentine, Health Commissioner Dr. John L. Rice. and Housing Commissioner Hosts will be Jerry Danzig and Dave Driscoll.

“Dr. Jones,” a story of the medical profession, will be dramatized at CBS-WFBM, on Professor Quiz of brain-teasing fame will be a guest star on the program, with Ken

Paul Whiteman will broadcast at 7:30 tonight, CBS-WFBM, from the

Show at Ft. Worth, Tex. Instead of featuring “Home on the Range,” or something pertaining to livestock; Mr. Whiteman has chosen a medley. of songs from the 1939 college shows |for his highlight.

first musical, “Now Is the Time”; Pittsburgh’s “My Diary of Dreams,” and West Point's “Nothing You Said Came Trve. 2 » Raymond Paige. will use tuned wood blocks, sleigh hells and auto horns in an arrangement of “Petite Torkinoise,” a song Anna Held popularized in one of the earlier Ziegfeld Follies, for his “99 Men and a Girl” program, 9 o'clock tonight, -CBS-WFBM. § » 8 » Fred Allen will do a repeat on two recent Jack Benny shaws when he cavorts through the open spaces in a burlesque of “The Life of Jesse James” (8 o'clock tonight, NBC-WIRE). Fred, of course, has reserved the title role for himself. He is planning that the murderer of the great Jesse will turn aut to be none other than Jack Benny's grandfather.

8 2 2 Ransom Sherman's 9-year-old son George will be a guest on Dave Elman's Hobby Lobby (7:30 o'clock tonight, NBC-Blue). Young George spends his spare time eonstructing sound effects (shades of his father) for use on the radio.

1Thus far he has perfected door

slams, hen cackles and marehing armies, Other guests on the program will be Charles B. Driscoll, -columnist, whose - hobby is buried treasure: Mrs. J. L. Spencer, St. Louis, Mo who collects nursery rhymes, an Denny Healey, Holyoke, builder of musical instruments o

of odds and ends. »

THIS EVENING

(The Indianapolis Times is not nsi aouncements caused by station changes pg inj cevtaciny

in program ame

INDIANAPOLIS INDIANAPOLIS CHICAGO CINCO! 3 WFBM 1320 WIRE 1400 WLS-WENR 780 WER (CBS Net.) (NBS-MRS) (NBC Net.) (NBS-| 4:00 Navy Band I. U. Progra Bilt 4:18 Tea Tunes Interviews. aa Swing Time. ory a ar Pirates 4:30 hag Home Edition Landt Trio Jaok reng 4:45 Unanneunced Charles Sears to Soliean 5:00 Wheeler Mission Lone Ranger Don Winslow Winslow . 3% Hore Wins Di . T Yaicoim Claire Roflint'y OF : ae) 0 ra ano . 5:45 Seen Tucker Lyries y Sports : Lawell pe 6:00 New | Easv Aces Easy Aces Andy 6:15 ma Abner Human Side Lost P : 6:30 ral Basket Walter Shead ports Sram pelos Savreve * 6: Air Newspaper Nowa Inside Sports Et Gang Busters Man's Family Crime Reporter Man's Family = . » hi a Whiteman’s or. Dorsey’s or. Hobby Lobby Dorsey's Oz. 3:00 Star Theater Fred Allen Town Meeting Fred Allen :30 » ”n ” % ”» »” » " 8:45 ”» "oo ”» » ”» ”» 0 eo 3:00 99 Men & A Gir) Kay Kyser Ransom Sherman Kay Kyser : 9:30 Edgar Guest 1:4.» Commentators “. -n ! 9:45 " i ”» ” » |» n ® 1 10:00 News Amos ’'n’ And | 1 Eg 10:15 James’ Or. ews y Nom Or. liven ; 10:30 Reller’s Or. WIRE Salute Henderson's Or. Salute 7 10:45 wi. Te uo. 1:00 Casa Loma Or. vitt’s Or. 1] 11:15 Strikes & Spares a Muse, Mosh iver 11:30 King’s Or. Lights Out "i. Review 3 11:45 "ou Henderson's Or. Dailey’s Or. NE THURSDAY PROGRAMS ay INDIANAPOLIS INIIANAPOLIS : wn NAPOLIS . CIN WFBM 1320 WIRE C1050) WL NAT (CBS-Net) NBS MBS) (NBS-MBES) . 6:30 Early Birds Devotions Tabernacle AAA Progr 6:45 Ww: 0 Markets 1" " Unannewiced . CRT) 3 lie n ” Tunes & tips Breakfast Jam Fime Shine : 9 i: 3 ”» ” ” » = iis ww» » on pow Chuck Waren £:00 Organ News Coffee Cu Pa llisem 8:15 Serenade Dessa Byrd Presenting vs Myrt A Marge 8:30 Apron Strings Baby Bulletin Fashion Footlights Hilitep House 3:45 » i” Symphony Devotions Gospel Singer . 9:0 Kitty Kel Central City Matinee Famous Farmers 9:15 Farrell's Kitchen Other Wile a" . Human Side 9:30 Plain Bin ” » Smilin® Ed. 9:45 Stepmother Woman in White nn The Goldhe 10:00 Mary Taylor David Harnm Kay Bartlett Linda's Love 10:15 Scattergood Lorenzo Jomes ic & Sade 10:30 Biz Sister Widdow Brown Musketeer Peter Grant 10:45 Life Stories Editor’s Daughter N. Shilkret's Or. Read of Life 11:00 Towertown Singin’ Sam Primary Bhythmies Editon Daughter 11:15 Naney James Linda’s love Noon Rhythms Xe 5 3 Neitla :30 Farm Circle Dr. Malone harlie Cook 11:45 ” a” Farm Hour Boy Greets Girl Foun Hour 12:00 Farm Bureau Markets Back Home " ea; 12:15 News Headlines . Frank Dudgeon Farm News 2:30 Voice of Farm WIRE Reporter Sleepy Hollow Words & Musto. 12:45 Holiday Rakov’s : Haopy Gilmans 1:00 + Lenten Service Betty & Bob Hall's Or. tty & Rob :15 Dr. Susan Grimm's Daughter Irom Moods Grimm’s Daughter 1:30 Air School Valiant Lady Shut-in Friends Valiant Lady 1:45 . » Church Homns Wirge’s Or. Hym! ; 2:00 Army Band Palmer House Charles Thomas Mare Marlin 2:15 Li ” Prozress Parade Rhythmakers Ma Perkins ° 2:30 Recital ” 1 Congert Hour Pepper Young 2:45 vow Beiween Bookends ”» Guiding Light = , 8:00 Lebrun Sisters Backstage ie Swing Concert Mad Hatterfields 3:15. Varjet ies Stella Dal Paul Krauss Midstream 2:30 ioc & Sa y Home Folks Beautiful Life 8:45 Sportsmen’s Show Girl Alone Kitty Keene 4:00 Before the House L U. Prasram Charlie Cook Hannah 4h Tea , Tunes Alec Ranjeigh Sr ogmlony : 3 ANIBOXYS sons $ el om Edition Refrain RC 4:45 » i. Organ Musie Honolulu Paul Sullivan

KEY NETWORK STATIONS (Subject to change): NBC-BLUE—WJZ, 760; WOWO, 1160; WENR-WLS, 870; KWK, 1350. NBC-RED--WEAF, 660; WTAM, 1070; WWJ, 920; WMAQ, 670. CBS==WABC, 860; WIR, 750; WHAS, 820; KMOX, 1090; WBBM, 770. MUTUAL—WOR, 710; WHK, 1390; WHKC, 640; CKLW, 1030; WSM, 856,

CROSSWORD PUZZLE

»

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