Indianapolis Times, Indianapolis, Marion County, 14 March 1939 — Page 17

pr gp pn

“Market Men Meet

In Capital for — Protest.

By THOMAS L. STOKES Times Special Writer

WASHINGTON, March 14.=<The New York Stock Exchange, encouraged by talk of business appeasement, has moved upon Wash-

ington to organize a campaign for | modification of the Stock Market and Securities Acts, to remove what its officials term “burdensome and . unnecessary” restrictions on trading. It has given the campaign a national complexion by gathering here representatives of 17 other exchanges situated in all parts of the country, which is important as far as Congress is concerned. The group is preparing proposals for revision of -the law, in sessions that lasted all day yesterday and were resumed today with the hope of finishing tonight.

Largest Group Gathers

"More stock exchange people are here now in one spot—at a local hotel where the meetings are held—

than have gathered in this town since Richard Whitney, then head of the New York exchange, rented a ‘house here for his associates, aids and lawyers when the original stock market bill was being considered by «Qongress early in the New Deal. Zealous New Dealers who helped frame the original statutes are iooking somewhat askance at this gathering. They are cognizant of the current pressure to help business, which they fear may envelop the regulation won after so hard a battle five years ago. John M. Hancock of Lehman Bros., chairman of the New York Exchange’s stock listing committee, who is presiding over the sessions, apparently is not so hopeful of moving Congress as the New Deal fears would indicate. He said he did not look for changes at this session. ‘While the more important changes sought would require legislation by Congress, the stock exchange representatives also are eager for revision of regulations which the Securities and Exchange Commission’ itself can make under its existing powers.

Martin Also Present

_ Corsequently, the proposals drafted here will be laid before Chairman Douglas and the commission. Mr. Hancock said he expected to present them. At his side here in the meeting is the youthful William Mc. Martin, paid president of the -exchange, who was “put in charge of reorganizing the exchange some time ago under a reform program inspired by the SEC. Chief among the changes sought are: Revision of the broad antimanipulative provision which stock exchange officials say is too vague and leaves uncertainty as to just what

- types of operation are illegal.

" Revision of a provision designed to restrict stock transaction by “insiders,” that is, company officials. . Simplification of registration statements so that a single statement would suffice instead of the two now required, one under each of the acts covering stock markets and security issues; and also elimination of some information now required which stock exchange officials say is unnecessdry. ‘Elimination of the requirement for a prospectus with each additional issue of the same stock. The antimanipulative provision that is objected to forbids activity designed to push a stock up or down in order to ajfract buyers. This is a broad general power conferred on the Commission, though other parts of the same section of the law are :specific as to pegging operations designed to stabilize the market, and define what may be done within

the law.

This provision was purposely made ‘broad and general by the original .drafters of the act as a means of »giving the SEC every power to check such operations as were disclosed by the Pecora investigation. Ferdinand Pecora, now a New York Supreme Court judge, helped to frame the act.

New Dealers claim to see, behind the campaign to revise the antimanipulative section, an attempt to reopen the avenue of speculation by which big operators can greatly increase their business and attract the public info the market. Trading has sbeen much lighter under the Stock "Market Act and SEC regulation.

Urge Greater Volume

Stock exchange representatives say greater volume promotes stability and prevents quick rises and drops sikh as occur in a “thin” market. They argue that operations are too much restricted now. In the “inside” trading provision, officers of a company are subject

‘to a suit for recovery if they buy

and sell a stock within six months ‘and take the profit for themselves instead of turning it over to the company. The argument for change in this provision is that it is often necessary for officers to “support” a stock by their own operations, and therefore that if any profit is made it should accrue to them sinee they took the risk.

In Chili Brings Advance.

"NEW YORK, Marck 14 (U, PJ). Copper sharés snapper back in the early afternoon tradin: on the stock

izing against the pro posed copper |B export tax. Anaconda ran up to gi iy hay 1%, and Kennecott to 37%, JY from the previous close and Ay in points from the day’s low. These two issues would be principally =ffceted by a Chilean tax. American Smelting, also with Chilean interests, rose % to 47. Elsewhere in the list prices displayed a firm tone after: carly softness. Steels were prominent on he upside with Bethlehem af 73%, a point, and U. 8. Steel 63%, up %

farm equipments, rubbers and elec-|g

‘| trical equipments. Santa Fe was the

leader in a steady to firm rail division. previous close.

Czech Bonds L ower

Domestic corporate bonds rallied after an early decline but foreign funds maintained losses sustained on an early set-back under fead of Czechoslovak issues.

irregularly lower after recovering from the early lows. Colorado Fuel & Iron 5s of 1970 were a strong feature among utilities advancing 4 points net to 64. U. 8. Government obligations held narrowly yestérday’s closings.

Czechoslovak 8s of 1952 held an early 4 point decline to 70, while the

105s to 2 points at 69. Curb Stocks Irregular

Curb stocks turned irregular after early weakness |

ferred recovered half of zn early one point loss and other shares moved up fractionally. Industrials improved.

of America. American Cyanamid B recovered part of an ear'y loss while Fisk Rubber and St. Regis Paper |* firmed. : Mining shares steadied losses Lake Shore was down more than a point at a new low of 40. Oils were about unchanged ‘rom the previous close.

aviations were dull.

Sentiment Crystalizing Against Copper Tax

SANTIAGO, Chile, Marck 14 (U.|Lehnc

P.).— Sentiment was crystalizing | Fs here * today agsinst the proposed progressive copper export tex which is now before the Sénate. ' The United Press learned that no action will be forthcoming on the measure today, since the Senate will only consider the manner in which it will discuss the bill. It was passed last week by the Chamber of Deputies. It was generally expected that the Senate would reject the bill, In event it does not, the President may veto it, according te infor mation here.

FRANCE PREPARES LOAN FLOTATION

Foreign Issues.

PARIS, March 14 (U. P).--In-|3 formed banking sources reported

today that the French Gove: ‘nment

is preparing to float a $68.250,000 conversion loan to retire a series of maturing foreign issues, Finance Minister Paul Reynaud,

according te these sourcss, is ne-|pin

gotiating with underwriters for the sale of the néw flotation, which will be issued in Swiss francs. It will understood the conversion loan will mature [in 6 years, bearing. interest at 3% per cent, and will be issued at 98 per cent. The maturing loans carrying interest rates varying from 4!3 to 6 per cent. Completion of this financing will mark the second conversion operation carried out by Reynaud involving a foreign indebtecness. The first consisted. of a 100 million florin ($53,120,000) loan handled through an Amsterdam. syndicate.

DAILY PRICE INDEX|, NEW YORK, March 14 (U, P.).—

compile equals 100): Yesterflay ....iccoiiniven Week ago se0 0000 s0 000 bose Month ago see s80 scien Year 8g0 :......i. 55000. 1939 high (March 6) ........ 106.47

« 104.98 os 111.72

1939 low (Feb. 9) ..... . 104.63

[T_

~§Rikis

JAPANESE | IN THE U.S. A.

~ 1888888 - 14888848

ACT

WOMEN 8

Change in Sentiment 2

market today when it was ledrned|g that sentiment in Chile was ¢fystal= g

Small advances were noted in the Co

Utilities held around the én

D Domsstie corporation bonds were

around 5 P & En

En In a fairly active foreign section,

8s of 1951 extended a one poinf |

Electric Bond! & Shae $5 pre- 9 utility |

on early Ho

Lockheed Aircraft was up*% point | after early weakness buf other I

Funds to Retire Maturing!

Dun & Bradstreef’s daily weighted eh price index of 30 basic commodities | GES, for United Press (1930-32 B

Gt oe Toes |S se 106.19 M

NEW : ing are noon cab

Reh

FEST FRESSES FESS SEESSES §

i fh A Rafat A 1034 10875

Atlas Corp . a HoH

Auburn Atito’ . Aviation Corp: « 15 ait 2013

25% 82,

Set QOO0 NLD oESoBatanStEEs0S

Bald Toco, ct.oo 15h

1 iu - 30% i

Ben os Ee i Tl oe aRer de seve 21%

seis 2 Bu B 4s utler Bros . Butler Bros PL 259%

Butte Cop & Z 37% 2

Callahan Zine. . Canada Dry +41

Caterpillar T Eolanase

hod 117

gate 5% 8 Broadcast A | um Gas _.... Gas pf A: 9 i Com Caedls . 94% Com Solvents 2:3 Comwith Edison Cong-Nairn . Gons Fy IN

SSPCERTEEEoE £ : 5

. 34 Crown Cork ... Crown Zeller .. 1 Crown Zel 8 Curtiss Wr..

Bay PAL cu pf. 11042 & Co » - 22 Ys

Bow C! . Du Pont deb ..}

1612 373% 10% 11%

East Air L .... 162 Elec Auto ee. 37% ... 109% c 11% 1% fl

392 39%

28%, 28% 23% 23%

air Morse .. jrestone T es Flintkot! Freept A phar % en Am Tr ... 58 en Baking ... Gen Electric .. Gen Foods ... Gen Gen

Gains| St Roy ranged to a point in Aluminum Co.|G

L Greyhound Cp... t Sug ....

: 18% 652 1572 53%

Here Mot ...... 18% Homestdké .... 65% ud-Her B ... 15h Howe Sound ... 53%

wes

1 Central «17

nsshs cts Mad. i Hy "4% 53 30Ya - 87 si. 9 14%

Kennecott ..... 7, 247, : fas aes ha

101%

oe iC Lons Star Cem. §

54 orillard 23%

20 Inds. Yesterday ..... 87.9 Week Ago ..... 87.5 Month Ago .... 86.3 Yéar Ago ...... 19.9 2 Years Ago.... 93.8 1939 High ..... 88.0 1939, Low

1937 High ..... 19387 Low ...... 1936 High ..... 94.8 100.4

84.7

Treasury Bonds High

948 29% 1659. 56 .

32s 1949-39 1952-44

B&O ref 5s 02000 5 Ches O gen 4'as 92. Chi. W» Ind cn 4s Bx 9612 Elec Auto-L 4s 52 Int T. 58 55 4as 2013 ..

NYCen NYCen 4!2s 2013n gn 47

FOREIGN BONDS igh Vs 3% 7 7 a

Argent 4s 72 Apr.. Australia 5s 57 ...... elgium 6s 55 3razi 3razi 3razi 3razi Canada 3

s. 41 81as 26-57 .

Katz Drug Lg his 44 Marshall Field .. erch & Mig A Mid West Lorn. Mid ut.7

n RR Pines Hi,

Wise

YORK,

Engiana {pound g. (60-d b rate) 4.68% Canada (dollar 9 11-1

Geérmnv (trvl mrk) Switzerind (franc) Tolland (guilder). “weden (krona) .. Norwav fkrone) Denmark (krone) Spain (Frneo mes.)

308 Ya 2416 2357 2094 1112Y,

eavy lig hens, oi as S and White Chock spri ringe Ts, rer. 12s iSoiored ors, roll

107%

- 54 23%

Utils.

Ye -

WO Cu pt bd

ids BD =Q000 DIF

pet boone FESS

110% 22% 23% 20

24Y, $e

N. Y. Bonds

BOND PRICE INDEXES

101.9 101.6 100.8 91.6 103.7 101.9 99.1 99.7 81.3 106.0 92.3 106.2 103.5

U. S. GOVERNMENT BONDS

Loy

ee..110.22 110.22 110.29 110.29

..107. 107, ©..105.15 105°15 Home "Owners Loan Bonds

8 103% 107

UCE

LOCAL PROUD

v Last ofeaee i | Yesterday

Bonds | based ©

84.3 83.8 81.9

"6.4 | Bel

98.7 84.6 80.6 83.0 90.7

100.%

81.1

100.2

93.3

(Copyright, 1939, Standard Statistics Co.)

gn S8

SC 3% 74 1 ale ITs 28%, 4%,

6 47 141; 415 8

22%,

1% 5%

FOREIGN EXCHANGE

arch 14 (U. P.),—Follow-| EC G

***| Richard BE. Berlin, executive vice [president of Hearst Magazines, Inc, .|announced yesterddy that the cor-

ope or, 116; spring cy eniokens, 3 ibs; and’ over, Nod Sireity” 1 sreen count 30: (each. Tull’ 6ase mist. ele

a High, 1938, 158.41; low, 98. 95.

| Yesterday .......ccc0i00000s

Yesterday .....ccccceiieiens p| Week AZO ...ccocevcecisonee | MONEE AZO ...ivvienincnnens

: Tide W A Oil . 3 | Twin Coach IE

Unibn »| Union Car

ay Tn Yng Sheet .. +

8 ter Wks 5% Noblesville HL&P 6% >

Tract

Soe Bl 24

u 1 | Insur

| Simonizing

N. Y. STOCKS

= By United Press &

DOW-JONES STOCK avenaces| 30 INDUSTRIALS { é¥scctbonissssscas 150.79 i Week Ago ......... % | Month Ago ssesvsse | Year BEO ....:..i.i00inins High, 1939, 154.85; low, 136. 42,

+4. 56

20 RAILROADS Be 062 +021

32.45 32.80 - 29.89 26.58

Week ABO i.issiesssisevssse Month Ago escsdesessbcbsse Year ARO ...isiceseciiianen High, 1989, 84.33; low, 21.93. High, 1938, 33.98; low, 19.00. ! 15 UTILITIES } 26.05 0.23 25.97

24.80 Year Ago iiveeiiie 19:00 High, 1939, 26.52; low, 22.30. High, 1938, 25.19; low, 15.14,

+0.23

+038

Hieh low ces 20Ys 20V

Lou G&EA . 20%

doee

Mack Tr ..... 28 28 28 ° 35% 35% -~ Sin 35 I

— a ara

Nash-Keélv Acme

16% pf B 113i; Nat Distillers . 273% 15%

: - DORI IAD b= bd DO bt

OTTO

thea BS pd

No 25% NS 8 Aim oo 12%

Om hio Oil ...... 9%

Soils 19 ok fil Glass 68

4 I pt 85 Wi ®O©. ar '

ac Am oh. .

Baan

SIDACY 4

CD 4 DI md be CO

WE0 Dei LIDI00 = ofa Rn

Seo TI AOMRE = Dnt O14 » INN SEW FRRESSE See -— 8

at Catars wn a ho h-a1-3

pf.. dublic Sérv ... Suliman PO Ys 97s

Oi see Burity Bak i.. 15%

pict Sie pee Cee

Reo Mot ...... Republic Stl .. 2 Reyn Tob B.... Richfield Oil .. ¢ Roan Antel Ya

Safeway 7 pf.. 1 “ead Cane 2

1% i

Syming-Gould . Syming-G XW..

8% Ya Ta a —

Tenn Corp 51%

14 4 Trans& West Air- a 8% 38 —l— &P.. ioe J vi 8 Un Paci fe oes gl n Tank .. Un Alroraft Cp. 3

United C United Brig

Py os a. oe

SEER FA

I+1+11

8Y4 13 48% | 55 497, 58 Steel. . 627% u Steel of. 11972 Un Cyclps Sti.'12° 12 , ud 13 2Yz 2Y2 Ye

. 19 19 oo 492 49%

Hise FE

Bak B Westing El . a | Willys over ...

Yellow Tr ....

Te 3%.

LOCAL ISSUES

_ The ollowin uotations by thé Indianapolis Bon - share ons, do not represent. Ty Shas 3d Cot IornES, but merely hé approximate market level uyin and selling quotations of recent iranscr on Stocks Ask futs Invest Corp. 9 5¢ 41%, 54

Zonite 3% 3%

Belt BR R & Stock Yds com. . t RR & $0 ck pid or Ind Poy a

‘Indpls Wat T 41 Hrd eR

na 1 P&L 6% *Indpls P&L Jie

incoln

N N N

ETOBTESS Pub Serv kan i 3 pd. Pub _Serv. Co of joe id °. .

Pp 0 9| van Camp Milk Co com ..... 10

Amer Loan 3a Citizens thd” Tel 4%:8 61 . Crabbe Reynolds-Taylor 5s ‘i3 92 Home T&T Ft 1

100 | 104k 1 i 102%

5 ..102

ncie a oe -: 100%

0 c Y2% 91 Richmond Water ks! 89% 49..103% Séymour Water Wks .100 T Haute Water YA 100% T Haute Water Wks 6% 9. ..101 Bal Corp 5

nd, Markel Bt Jovestment Corp. 24.86 Co.) eM ne Ce

Se savseses

. Crist

Curb Stocks

High 1st cheng?

¥1 Ht

Low 47

ui %

esses -— soos seco

esos 4

od M000, “IMB: BI 8 ptt tn 63 2 WEES ae

BB, FE SSS

REPORTS '38 PROFITS NEW YORK, March 14 (U. P.)—

poration had an operating profit | for 1938 of $3,355,488. ‘ Net profit, before the capital loss written off on the sale of the

4 Derican Architect,” he said, was|

$1,850,905

Your car ing Simoniz cleaned, s,|Simoniz waxed | and chrome pols

~0.29 +0.19 |

Last off

3 May" (old) ... Va May (néw) .. uly

. | |Government expenses and IR compared wit th + SAL 280 o1] ExDelises [ er i Oath Bal, L Pub. Deb Debt 3

| Ehinac lugs, || fornia crates, $1. 1.8 2a $2.80

Bp R5@90¢: 07a; 14| Utah Sweet Spanish, $1.40; Colorado Dan- | vers, $1.10.

[WHEAT PRICES

NEAR PREVIOUS TRADING CLOSE

Liverpool Weakness Fails To Attract Much Selling.

CHICAGO, March 14 (U.P)— Wheat prices held close to previous 33| closing levels in light mixed trading on the Chicago Board of Trade today. Corn was easier. At the end of the first hour wheat was unchanged to off % cent, corn % to % cent lower, and oats unchanged. Weakness at Liverpool failed to

5 |attract much selling of wheat in

the local market, and there was sufficient buying by local interests to

[maintain prices in a rather limited

trade. Liverpool wheat closed % to %

s| cent lower mainly due to the con-

tinued absence of milling inquiry.

% | Australia sold two cargoes of wheat | to China.

Winnipeg wheat was % to % cent lower after an hour’s trading. Scattered export sales of Manitobas were

/4| reported, but no important business

was indicated in North American wheat. The weather map showed no precipitation in the winter wheat belt The forecast was for fair weather

s | in Kansas and Nebraska, with much

colder weather accompanied by snow in more northern grain belt

states.

Corn prices developed independ-

*lent weakness on lack of export de=

mand and a lower Buenos Aires market. Local grain receipts in-

s | cluded an estimated 22 cars of corn 1:|and 12 cars of wheat.

CHICAGO GRAIN

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

$0.6712@67% $0.6778 $0.683:@.68% Corn— 48% 493% 50%

Oats—

Ryé— Af A414

WAGON WHEAT Diy & grain Sjevarurs are paying for No. r grades on their merits. Cai a! Site "NG. 2 yellow, 43c. Oats,

45%

LIVERPOOL WHEAT > Tev. High Low | Close close March (old).$ .60 §$ 597% § 3% $ 80% arch (new). .57% 57% 57% Si 81%

STEEL OUTPUT

Fractionally Below High For the Year.

NEW YORK, March 14 (U. P).— Steel mills of the nation are scheduled to operate at 55.7 per cent of capacity this week, a gain of .6

Ipoint, or 11 per cent, over last

week’s 55.1 per cent rate, the American Iron & Steel Institute reported

today. The rate is .1 point below the

| .|year’s high of 55.8 per cent estab-

lished two weeks ago and compares with a 54:8 per cent rate a month ago and with operations at 32.1 per cent a year ago. The moderate improvement was|s about ih line with expectations. A drop in Chicago district steelmaking was more than offset by improvement in the Pittsburgh and Youngstown sectors. Sentiment in trade quarters was reported optimistic, partly reflecting the strong tone in scrap markets

198,,| and partly anticipations for a pick0

up in demand soon from automobile manufacturers. Observers contend that inven-

| tories of automobile producers have

been cut down sharply since the start of the year and that new business soon will be placed in good volume. Demand also is .expected to improve soon for tin plate. The stretch in scrap partly is attributed to the large volume of metal which has been exported recently, but many quarters contend that the stiffening price structure augurs well for steelmaking operations here future.

UU. S. STATEMENT

WASHINGTON, March 14 (U. P.).— ts for the|? current fiscal arch 11,

year th ough

$6.93 na 380. 04s. 21 I'l 35s. 810. ‘oss. 43 $ 352.111 3 931. 640.401.

55 28.160.540.88 5. 19% ,531.490.88 hs 3.371 198 :300.00 $.060.339,186.21 Work. Bal. 3.58 54,202.81 1,307,803.200.66 942.308,276.29 37, 310.904 ,604, a3. 3a

956,286,100.36 12, 221.848, 943.52 274, 030,919; 42

INDIANAPOLIS CLEARING HOUSE

Clearings -.. 2.914,000 Debits... ne 88006, [000

FOOD PRICES CHICAGO. sckigtoch, 5 o. SLRs

Seis if

Custol Mig ™

Oc. hy. Sg se. 5. Codlower. Ca) EB 3--Californ| lorida (504 .

hamboers, crates, '[email protected].

Soe Onion Market

| sacks) —Illinois ow

ean ‘Yellows, $1@ Colorado Sweet Spanish,

3 EB 2

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

h i

ESTIMATE IS UP;

1.1 Per Cent Gain for Week| s- 5%.

in the immediate Market §

‘New Business Books Available at Library - “ y t ’ * The following new business books now are available at the business branch of the Indianapolis. Public na; ALES ADM or man oN TRIN: Cinhca. A teiithook using the problem n'ethod. NAGEMENT, by

AT B."Eabert Wang nde Af fiogs and re-

onsibiliti ing manages is agent a the II lanagey bon BRR and the general public.

NUE BO ONDS, by John. F. Fo Jr. “As ordinary funds fo? public. Fok get Jqareer. ti r sel

Don Cllquidating Projects will becomé more popular.

FINANCIAL 0! AN ATONE AND.

Broa Xa Nn "Pune

nifica of the fAnancial institutions. and th terrelations.

THE . CONSUMER-BUYER AND THE MARKET, by Jessie V. Coles. For general courses on - consumers busin iz general and on the buying ¢ amloit

- TURERS, SIgECTURTS 4 Jr F, MANUFAC.

HOGS DECLINE; NEAR '39 LOW

in-

All Weights Fall Off 15

Cents; Other Markets Also Down.

Falling away 15 cents on all weights, hog prices at Indianapolis today approached the low for the year, according to the Bureau of Agricultural Economics The top Price on 200 to 310-pouriders: dipped to $7.75. The drop at Indianapolis followed the general trend of other markets, despite the fact receipts were about normal Vealers were steady with the top price at $11. Moderate receipts of fat lambs sold strong to 10 cents higher than late last week. Bulk of the supply comprised good choice fed Western lambs fram~$9 to $9.25,

(All Receipts Are Salable) March Top Repts.March Top 3 8 3 n «i$ 8.10 9 ii. 8.00 it he 5% 10 ... 7.90

Barrows and Gilts rr ” Packing Sows Good and 35 383 $ 6.75 3.00 Choice— . 6.60- 6.8 140- [60 6 8 6.85- 7.70 29: 350. 6.50- 6. 7 60- 7.50- 7.70| Medium 425-, 350. 6.25- 6.75 Slaughter Vigs Good and Cholen00- 140.8 §.50- 7.35 Medium. . 6.85 CATTLE (Receipts, 2142) teers

hoice— 750+ S00 $11.25-12.50 900-1100. 11.50-18.00 1108: =1300. 11.50-13.00

00d — 750- 900. 9.50-11.50 900-1100. 9.75-11.50 . 9.715-11.50 9.75-11.50

3 Te a

Repts

991 7078 582

4255 ne 7100}

Bulls All Weights— G'd b't..$

All Weigh Choice Medium.

glen 810. 50-11.00

9.50-10.50 Cull and common. 5.00- 8.00

alves \o (Reciepts, *644) 1. 50- 8.75| 250- 5 5 3 0 9.00 Good .. - 9.00 Heifers Choice— Commo 750- 900 $10.25-11.00| nd | Stocker Cattle 9.00-10. 25| Stee 8.50- 0.25] 500° - 800. $ 8.25- 9.25

. 8.25- 9.25 7.00- 8. 50| Med {um— 500-1050.

Plai 750- 900:

00a-— 750- 900.

550- 900. 1.50- 8.25 Common. 9. 0- 7.15

ow: ..$ 17.00- 3 501 Heifer : 8 50- 7 20 Good find GChotce— BOR 8 Ea J00. ag 2 and cutter 4.25- 5.751 pi Ars 00- 7.50 ~ SHEEP AND LAMBS (Receipts 1169) Lambs Good and choice .........

Good and medium Common

Good .

ceces.$ 8.85--9.10 7.35- 8.60 ' 6.00- 7.25

Good and choice... .cecee0e:.08 335 4.50 Common and medium .. UM ..ccecess 38.00- 3.75

CHICAGO LIVESTOCK

Hogs—Receipts, 11,000; m mostly 302 Fo certs lower top, 90; good ¢ 3%; SOT 90: 80 280 Js

Ib ing ‘Sots, 86.356r0.08°

sous, TR 6000; calves, 2000; general killing quality again nst the buying 3 more active than mastiy "ibs cents higher ali through ant except on bulls and vealers; bulls steady and vealers 25 cents or Nett lower: tr steers, [email protected]; yearings, both steers and light heifers and mixe ings, extremely scarce; long 18d steers top, $13.75; light’ steers $13 eral loads $12.40@13 385 best heifers, $10 5.35: cutter eons W Jos Feely; weighty sausage Sishy vealers $8. 50@ 9.50; Suls, ni kinds, 106 10.50: few, $11; considerable demand for replacement cattle but supply negligible, Sheep—Receipts, 13,000; late Monday fat lambs steady to 10 cents higher than Frigay; top, i: 10 to shippers; packer top, $9; 9 s. down, At @39; 100- 108 1b; $0 [email protected]; sheep steady; ewe joday's trade slow; indications around steady on fat lambs, aSRine sttonger; taking, $3.90@8. 90 on food to choice lambs; now asking $9@9. and better; sheep strong to higher; few Western ewes, [email protected].

.60; 1bs. packHehter weights up

bulk Foighis $4.715@b;

CINCINNATI, March 1 , P.).—Hogs— Salable receipts, 3500; total, 3500; marl et, gajccall 15¢ lower, fairly active; 7.80; 225-250 lbs., $7.65; 100-140 ibs., $6 as; 85; most good "packing SOWS, $5.75@6. 3 Catfle—Salable receipts, 500; tots 3 calves, 450; total, 450; market; fairly acmostl Steady; scattered good 1000-1Ib. 0-1b. fed steers, $10.25 @10. 50; mL lot around 752-1b. heifers, $9.75; TH ain to go ood beef cows, $6.25@7;

most, bills, $6.50 @ AFAYETTE, Mar ch 14 (U, P.).—Hogs—

7.55; pigs tS: aoe 36.8 u. AY. March 14 (U. P Market 20@25¢ gi 200-220 220- 20 1bs., $7.4 lbs., $7. zo po 6, 9%: $6. 65; 100-1 20° hls .50; roughs, $5.25. Calves, $11. Lambs, $8.50. Enjoy new Hearing with the new Western Electric ORTHO-TECHNIC HEARING AID. Powerful, efficient, economical operafion. Easily,

inconspicuously worn.

AUDIPHONE CO. OF IND., INC.

4 1104 Fletcher Trust Bldg. LI-5098

BARGAIN EXCURSIONS

Special Round Trip Coach Fares Good on Specified Trains Only— for details consult agents i ———

SATURDAY, MARCH 18 $7.00 PITTSBURGH

SUNDAY, MARCH 19 $2.50 LOUISVILLE $3.75 COLUMBUS $2.25 DAYTON $1.50 RICHMOND

Returning Jeave destination DURIRY Suen ht.

“Phone Riley 931

Soc

phony Orchestra in their weekly broadcast at 2 p. m. tomorrow, CBS-

ON THE

: _. TONIGHT ~ %:30—Al Jolson, WFBM. 7:30--Information Please, WENR. * 8:30—Fibber MéGee, WIRE. 8:30—Benily Goodman, WFBM.,

Two movements from the symphony by Harold Morris, Texan composer who-now teaches at the Juilliard School of Music in New York, will be featured by Fabien Sevitzky and the Indianapolis Sym-

WFBM. Mr. Sevitzky also has chosen two Moussorgsky selections, introduction to the opera “Khovanstehina™. and “A Night on Bald Mountain”; Weber’s “Invitation to the Dance,” “The Last Spring” and “Heart Wounds,” by Grieg, and Cesana’s “Negro Heaven.” 8 8 8

The “inside stories” of the Evanston Cradle, famous foundling home;

how Michael MacDougall exposes|Ma

crooked gamblers and the repossessing adventures of John D. Tierney, Chicago, will be revealed on the first broadcast of the “Inside Story,” the new NBC-Blue weekly series, at 7 o'clock tonight. Al Jolson and Mrs. William B. Walrath, founder and héad of the Cradle, will aid in unfolding the Cradle’s “inside story” Mr. MacDougall, is author of the book, “Gamblers Don’t Gamble.” . ” 8 Dorothy Parker will join forces with the “Information Please” experts for their program at 7:30 o'clock tonight, NBC-WENR. With Miss Parker will be Elmer Davis, newspaperman and author, and the regulars, Franklin P. Adams and John Kieran. Mr. Davis, incidentally, is a Hoosier and a Rhodes scholar. ® 8 8 John T. Flynn, Times columnist, will make his debut at 6:30 o’clock tonight, NBC-Red, in a weekly program of interpretation of national and world events. In 1933 and 1934, Mr. Flynn was advisér to the U. S.

OCuzency in the Stock Exchange ine Pha vestigation. In 1934 and 1935 he was adviser tothe Senate Committee investigating munitions. He now is a member of the Board of Higher Education in New York. 4 s 8 ® ; Guest tonight on thé “For Men Only” program (7:30 o’clock, NBCWIRE) will be George Kaufman, playwright, who will be interviewed by Fred Uttal. Also on the program will be Cornelius Vanderbilt, socialite, author and traveler, and Capt. Henry Garfield, veteran sailing master. 8 ® 2 One of the nation’s unique orchése trds will be featured at 9 o'clock toe night, NBC-Blue, on Cal Tinney’s “If I Had the Chance” program. .It will be composed of Peter Arno,

. |artist; William C. White, short-story

writer; Authur Garfield Hayes, law yer; Rockwell Kent, artist; Frank Norris, managing editor of Time gazine, and Eugene Howard, comedian. Norman Thomas, leadef of the Socialist Party, will cofiduct. # 8 = i The Girl Scouts’ national “birthe day party” will be brbadcast at 3:15 p. m, tomorrow, CBS-WFBM, from New York. A week's celebration will mark the organization’s 27th annie versary. Honor guests will be Mrs. Frederick H. Brooke, Washington, Scout president, and Mrs. Herbert Hoover, honorary vice president. 8-8 8

Benny Goodman will swing out toe night from the Stanley Theater at Pittsburgh os 30, ES WFBM).

A new concert series, featuring Howard Barlow conducting the Columbia Concert Orchestra, will ree place the weekly “Music for Fun” program at 4:15 p. m. tomorrow, CBS. Mr. Barlow was conductor of the children’s series. On his pro=

Adagio from a Violin Sonata by Corelli, the Rameau-Mottl Ballet Suite, “The White Peacock,” by Griffes and the Polka and Furiant from Smetana’s opera, “The Bar-

Senate Committee on Banking and 2

INDIANAPOLIS WFBM 1280 (CBS Net.) . :00 Son Tones Senate I oS nes

Te 8” fia Edition " toe ‘Varieties

Program t O

tered Br ide. ” 8

THIS EVENING |

(The Indianapolis Times 1s not responsible for : fnaccuracles in program ane nouncements caused. by station chances after press time.)

INDIANAPOLI C WIRE 1400 SEWER _ (NBG-MRC)

CINCINNATI WLW 700

GO WLS-WENR 870 ; (NBC-MBS)

(NBC Net.)

Biltmore Boys Swin jiime

Lanai Trio Edward Davies

Baunpah } SE erry & Pirates. Jack Armstrong Paul Sullivan

Christ. Science Conn uartet Howie Wing Jordan Cons. : Ralph Blane

Easy Aces Varieties Walter . Sh

News Tony &

Second Hosbana ead

Newspaper ot Ale

Don Winslow Airliners . Nixon Denton Lowell Thomas

Amos & Andy - Varieties on't Believe I nside Sports

Don Wins Molcolm aire Rollini’s Or. _ Sports

Fas fges Persons Lost Ss News

Bie, Town

Al Jolson Men's Program

Johnny Presents

Musi American Legion Information Please Men’ s Program

Johpnie

We, The, People

Goodman’s Or. Fibber McGee ” » “ ” »

Crumit-Sanderson

True Stories ” ”» Dog Rockwell ”» ”»

Crumit-Sanderson Fibber McGee ”» » %

br. Christian

Jimmie Fidler American View

Bob Hope

Uncle Ezra Carl Baker

ames & Andy Kinney’s or.

News James’ Or. Casa Loma or. 8. Kave’s Or.

Strikes & Spares Stabile’s Or.

Krupa’s or. or.

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Tucker’s ” ”

Lyon & Marlowe Smoke Dream Inside Story

Variety Show

Uncle Ezra + Smoke Dreams

Pani Sullivan Fisher's Or. Webb's

News Mills’ Or. Brigode’s Or. a” ”»

Schnickelfritz Band » Unannounced “ " Mogan River H. Kay's Or.

Music ”»n

INDIANAPOLIS (CRE Not)

Early Birds ” »

INDIANAPOL WIRE 14 Devotions

Markets | Tunes &, Taps

» » ”» "» ”»

Rishard Maxwell

Round Apton "Strings

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3/8958

SNS

News Dessa Byrd Baby Bulletin King’s Men Sentral City her

Ot Wife Plain Bill

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Kitty Kelly Farrell's "Kitchen

Stepmother

Fact Finder Scattergood Big Sister Life Stories

ary McBride ancy James Farm Circle

David Harum Lorenzo Jones Widder Brown

BRS | Boma

Sin in’ Sam Lin Lh) Love Dr. Malone Markets

Farm Program » ar

ews Headlines Earl Gordon Manhattan

Lenten Service Dr. Susan School of Air

WWW | meri | SSO | OOS =| an

Ot oh td fd | Pd nh Sp} pg ph tt pd Rm | A com

Betty & Bob

Valiant Lady Betty Crocker Indigo Army Band

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Indpls. Symphony

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Men and Books Girl Scouts

Navy Band

Police Court

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ella Dallas Vie & Sade

Girl Alone

1" » 1. U. Program

Tea Tunes ”» ”»

om | inioks ONO | MEMS | ome

Home Edition Varieties

KEY NETWORK STATI NBC-BLUE=WJZ, 760; WOWO, 116

en RR

WEDNESDAY PROGRAMS

(NBC-MBC)

Woman in White ”

Editor's Daughter

WIRE Reporter Voice of Exper.

Grimm’s Daughter

Backstage Wife St

Minute * interviews

CINCINNATT ! (NBC-MBS)

Checkerboard Renfro Valley

Time to Shine . Peter Gran Chuck Wagon

18 INDIANAPOLIS WIB

Breakfast Jam ” ”

Checkerboard Breakfast Jam

Over Coffee Cups Paul Allison Presenting & Mar Fashion Footlights Hilltop House Devotions Gospel Singer

Matinee Once Unon Time $e ” Meet Author : » - Julia Blake ‘rn The Goldbergs .

Linda’s Love Vie & Sade Farm News Road ot Life

Editor’s Daughter The O'Neills

Kay Bartlett

Story Hour Castletime

Noon Rhvthms

School for Brides News Bov Greets Gir) Farm Hour

Back Hom "Le Frank Deeon Farm New Sleepy Hollow Voice of arm Happy Gilmans

Baty & Bob i s BoP Sie Saliant Lady | Betty Crocker

Mary Marlin

Fond Quiz Cugat’s Or. Shit- in Friends Bandbo

Ss Rhythmakers Concert Hour » Wn aon ing Ligh Mad Hatterfields Club Matinee Beautiful tife Kitty Keene

Hannah Terry & Pirates Old Refrains Jack Armstrong Hawaiians Paul Sullivan

ONS (Subject to change): 0; WENR-WLS, 870; KWK, 1350.

Out of Past Abravaya Home Folks

Charlie Cook ZaZooZoologv

NBC-RED—WEAF, 660; WTAM. 1070; WWJ, 920; WMAQ, 670. i | CBS—WABC, 860; WIR, 750; WHAS, 820: KMOX, 1090; WBBM, 170. MUTUAL—WOR, 710: WHK, 1390; WHKC, 640: CKLW. 1030: WSM, 850.

fire. Pr

utes.

your

costs everybody money.

form of insurarice premiums for all fires, and a portion of this cost must be passed on to the public in the form of rents. Everybody caatrib=

The first principle of Mutual Ins surance is fire prevention. Mutual companies do everything possible to help policyholders avoid fires for insurance costs can only be reduced 5 reducing losses. That th successful is a matter of record and

explain how “Grain Dealers Mu. tual” —one of the country’s leading mutual insurance companies— saved and returned to policyholders

Through him the service and facilities

are available to the property owns ers of this community.

GRAIN DEALERS NATIONAL MUTUAL FIRE INSURANCE CO.

Home Office: Indianapolis, Ind.

GRAIN DEALERS MUTUAL AGENCY, Ine.

reat Show

and you help pay for it!

@ There is a certain thrill about a

It makes a great show. But it

opérty owners must pay in the

have. béen

resident agent listed below cin

than $17,000,000.

t “Grain Dealers Mutual”

gram tomorrow, he will présent the =