Indianapolis Times, Indianapolis, Marion County, 21 March 1939 — Page 20

Stock PRICES SLE SLOWLY: ~ TRADING DIPS

A T. & T. Loses Nearly Point of Earlier 314-Point

Advance.

NEW YORK, March 21 (U. P.).— Prices sagged slowly in afternoon trading on the stock market today after an early advance of 1 to more than 3 points. Volume lightened on the decline. A. T. & T. lost nearly a point of an early rise of 3% points. Bethlehem reduced by nearly one-half a gain of nearly 2 points, and other steels eased from their tops. Coppers held near their highs. Chrysler dipped fractionally from its best level of 763%, up 3%. Railroad shares, which were bid up fractions to more than a point,

‘gave up part of the rise.

Bonds worked modcrately higher in forenoon dealings. Scandinavian and Belgian issues maintained advances ranging to about 2 points, while other European fufids were only fractionally over previous closings. U. S. Government liens moved up to net gains extending to 10-32 point in moderate activity. Rails and utilities were favored in a firm domestic corporation section. Curb stocks maintained gains ranging from fractions to more than a point in forenoon dealings, although profit taking restricted the forward movement.

- HOG ‘TOP’ $7.80

..IN5-10 CENTDIP

. Vealers Steady to 50 Cents

SPSL ay

”

3 Good .

, Indianapolis

Lower; Peak of $11 Paid Freely.

Top price on 200 to 210-pound hogs declined five cents to $7.80 at today, according to

the Bureau of Agricultural

Economics. Weights between 160 and 240 pounds were off five cents, while weights above 240 pounds were 10 cents lower. Lighter weights held steady. Vealers were steady to 50 cents lower with a top of $11 paid

freely. Fat lambs cleared mostly steady to 15 cents lower, the top at $9. 35 showing the decline.

March Top Repis. March Top Repts. "532 18 . +3 7.85 5612 20 7.85 5612 21 .... 7.30 6600}

1000 8178 259

Packing Sows 275- 350 $ 6.70- $29 25. 6.50- 6.75 6,35- & 60

4Barrows and Gilts | Good and

16 18 200. 220. 250. 290. 300.

CATTLE Beceiniss 1

| Chotce oi 39 1 90: 0 1% S0ian wi Bul 909-11 2: 13.00] Medium.. 1100-1300. 1 | Mewiam, 9.50-1

11.50; 9.75-11. 50/A1l Weights— | Choice ..$11.00 5 78.11.50 Medium 10.00-11.00 8.75- 9.75

Cull and 1100-1300 8.75- 9.75 common oa 00- 8.50 Common Plain

| Ca i{50- 900 7. 50- 8.50] (Receipts, ®613)

oice— Heifers py $ 8. 3.50. 9.00

hoice— Gi 9.00 os 900 $10.25-11.000 Medium. a 00- 7.00

ood — mmon_ 5.00- 6.00 '150- 900 9.00-10.25; Feeder and Medium— Stocker Cattle 550- 900. 8. 50- 9. 25! Steers Common— ood — £50- 900 7.00- 8.50! Sood 800 $ 8.25- 9.25 | 900-1300 8.25- 9.25 Cows Medium { 500- 1050 7.50~ 8.25 ..$ 7.00- 17. 75 Common 7.00-' 7.75 Medium. 6.50- 7.00! Heifers Common 5.75- 6.50!Good and Choice— Low cutter | 500- 700 $ 7.50- 8.25 & cutter 4.25- 5.75] Common and medium 6.00- 7.50

SHEEP AND LAMBS (Receipts, 1749) Lambs Good and choice ......... ese $ 9.00- 9.25 Good and medium 7.75- 8.75 Commion 6.50- 7.25

Good and choice os

veisnnsess® 0.¥0~ 4.50 Common and medium’ :

3.50- 3.75

. CHICAGO LIVESTOCK

h; ©

Le |

cows at

Hogs—Recelnts, iL 000; t market, clive; enerally steady to stron spots, 32100 higher on weights 220 lbs. IRL 87.7 ulk (good and choice 170-230 1bs.. $7. Bar 75: ao- 270 1bs., largely $7.25@ 33. a -350 butchers, SH 27, &: 400packing sows, 5, few hgiter weights fo $6 .75. e Cattle—Receipts, a. calves, 1500; ver: little beef in run; steer market - Son steady to weak; mostl By weighty offerings even; heifers scarce and fully steady but cutter grade slow $5.75 down; most steers, 11. stockers and feeders firm at $8.75@ 10. with | 5 650 yearling stockers up to $10.30; bulls and pers, steady to easy: practical top % ty sausage bulls, $7.25; light Soler 9.50 sorted; selected weighty vel ers, up to $11. Hiri ceipts., 4000; late Monday fat lambs closed 35@50c lower, mostly 40@50c off; top. $9.25 to shippers; bulk under. 100 1bs.. $9@9. 10; around 105-112 1b. averages, $8954 08.75; Steep steady: rather acti] e; 15@25c or more higher; ood to choice lambs, [email protected]: top. $9.50: Bonn shaling advance; choice ewes held above $5 730

N ; | OTHER LIVESTOCK INCINNATI, March 21 (U. P.).—Hogs— PR receipts. 2200; total, 2200; market, active, generally 10c higher; Jon. $7. 225 to 250) lbs., $7.65; 100 to 140 ibs alk good packing sows, $5.75

fairly

steady on all she stock unsteady; beef

e—Salable receipts, 00; total, 550. 5

: 1 alves—Salable receipts, tee and heifers: scarce. medium good steers, $9.50; heifers, s 550. 50; bulk plain to good beef cows, $6.5007.25; bulls quotable to $7.50: early top vealers, $11. Shee lable’ receipts, 700; total, 700. callv ‘god to bs; bulk good to mostly choice clipped lambs, $8.50; wooled offerings eligible to around $9.5 few common and medium Juve Tog:

- slaughter ewes, mainly $2@3

LAA March 21 (U. P.).—

+P 1 200-220 1bs., ! 240

6. 40$6.80; 160- 120

6.35; stags, $5. 25;

1 y bi $7 down: rou hs, $6.50 down. Calves.

10.50; lambs, $8.50@9.

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

today’s trade |B&

iv: lots | ¥

choice recently ] oliojce

Defends Change

William McChesney Martin Jr. eos “We are opposed to any step which would remove or in any way weaken the safeguards set up for the protection of the public.”

Letter Seeks Accord for Revisions in Present Securities Act.

NEW YORK, March 2i (U. P.).— William McChesney Martin Jr, president of the New York Stock Exchange, replied today to William 0. Douglas, head of the Securities & Exchange Commission, on security law revision proposals. Mr. Douglas, yesterday nominated by President Roosevelt to the Supreme Court, had denounced proposals -of stock -exchanges for revision of the Securities Act as it pertained to manipulation, Mr. Martin said Mr. Douglas apparently misunderstood the purposes of the recent conference of stock exchanges in suggesting the changes.

las, in part, follows:

Exchange, I should like to reiterate with all the emphasis possible that we are in complete accord with the objectives of the Securities Acts. With respect to the recommendations that have been submitted we ask only that they be subjected to the test of soundness to determine whether their adoption would be in the public interest. “We are naturally concerned over certain impressions which your statement of March 15 created. It should be emphasized that we are as much interested as the commission in preventing pool operations | u and any form of market rigging. We have the same interest that the commission has in the fullest disclosure of information to which security owners are entitled. We are as much opposed as the commission to any step which would remove or in any way weaken the safeguards which have been set up for the protection of the public. “We are hopeful that a way may be found for a constructive approach to a solution of the problem of improving the securities acts.”

DAILY PRICE INDEX

NEW YORK, March 21 (U. P.)— Dun & Bradstreet’s daily weighted price index of 30 basic commodities, compiled for United Press (1930-32 equals 100): Yesterday 104.76 Week AZ0 ..vccrssnsreesson. 104.67 MONth 380 ....e-sehsssoeeess 105.80 Year ago cesses. 11093 1939 High (March 6) ........ 106.47 1939 Low (Feb. 9) .. . 104.63

N. Y. Bonds

BOND PRICE INDEXES 20 20 20 Inds. Rails Utils. .. 86.8 59.5 100.7 87.8 62.8 101.8 . 86.3 58.7 100.9 Year Ago 9.4 56.1 90.9 2 Years Ago... 92.7 97.2 103.0 1939 High ... . 88.0 64.0 101.9 1939 Lov 856 569 99.1 1938 . 87.3 70.0 99.7 1938 Low . 74.9 47.9 $1.3 1937 High ..... 95.0 101.2 106.0 1937 LOW ...... 80.1 69.3 92.3 1936 High ..... 94.8 100.4. 106.2 100.2 1936 Low 90.0 84.7 103.5 93.3 (Copyright, 1939, Standard Statistics Co.)

60 Bonds 82.3 84.2 82.0 5.5 97.6 84.6 80.6 83.0 50.7 100.7 81.1

Yesterday ... Week Ago Month Ago ..

High

saves

U. S. GOVERNMENT BONDS Treasury Bonds >

1945- 3

Federal Farm Mortgage Bonds 44 .. 108.4 Home Owners Loan Boinds

4s 1949-39 102.2 1952-44 .. 108.2

DOMESTIC BONDS Corp 5 4 Beth Stl 3%s 66 1 Can Na Ry 5s 70.....

108.4

2% 3s

Alle,

C O Duquesne 315s Goodrich 4%s 56 Int T&T 55 55

N Y Cent 4's 2013n Penn RR 4ibs D i is D 81.

00h CN OH OH NO BRAN R

htt oo ©®©

0 oung S&T 4s 48 cv. 1.106 FOREIGN BONDS

D4 6D 60 14 DI © mT pt

Curb Stocks

High Low $120 Airlines aes 22% A..3 32

2315 1613

* Net Last Change

e r ae Bellanca Air | i erke ay Braz hay F pas Carder corp. ... Va Sent, hd ee on Child 48%; Cities Sar Ld

HHH FH HE

AL 4 Gt Nor Paper vg ulf Oil

td es td Oil Ohio. unray $e hnicolor

see

G Mr. Martin's letter to Mr. Doug- Ge G “Speaking for the New York Stock S

t Alto Thess tRR

igh ih 9 iu hE 4 : ou a | 431 Car Ty wii’ B 263% lortype . 2% Golamhive ! 33% r & ii; 5%

5 pf A 39 fo i

Last onan o 87 %

{xy =

Ya Ys

4 A Al 4 p. £ £ £ £ £ £ 4 4 £ £ 4 4 4 & é £ £ 4 4 4 4

Aviation mine .

Bald Loco ct .. Barnsdal 1

Borg. Warner oe Briggs Mfg .... 2 Bkiyn-M T ..

MIg ooo. Burroughs ..... Bush Term ....

HHH HH HEE HERE HH PE

Can Pacific ....

Cons Edison ... Cons Oil Container

Crane Co cv pf 1 Crown Zeller pf 8 Crucible St ... 38% Cub Am Sug of. 531% Curtiss Wr ... Curtiss Wr A.. oto

D Lac & Winans 6% Dev & R A ... 28 Dome ‘Mines ... 32 Douglas Air .. Du Pont 150

6% 27Y2 32 69 150

wee.

East Alr Lines.. 153% Eaton Mfg .... 237% Elec Auto-L .... 34% Elec Boat rs Elec Pwr & Lt El Pw & L 37 35

153s 237% 34%, 2

5 ® > +++++-+ ++: c+ ++ 6 FP 5 +++ 4+ HHH gore 1.00 : = So

Fed Dep St .... 227% Fid Phen .... 3315 Flintkote ...... 25%

Gen Baking .... Ger. Electric... Ge! d

Johns-Man ...

36% 11% 22%

Kennecot . 36% Keystone Stl .. 1113 Kresge SS ... | 22% —l— Lehman 3% 231; L-O-F Glass ... Ligg & My B.. 1163 Loft, In= 8Ys Loose-W Bis .. 20 Mer Macy RH .....s 30% Martin Gl ve M avian .e oe San McCro 13V, M clntyfe J Pore. 5¢

cLel

\ v M M

oy | Mach infi-Mdline" , onsanto ont Ward ....

5 110 1002 497% 49% Nomi

7 Yesterday eesvesvssssessncne

ij, | Year Ago

Ys | Otis Elev °*

Z| Pathe Film

a Phil Morris

255 [/}

+ | Union Carb ...

ddddddd

, | Warner Bros 3 Warren Br .... Ww P

3 Woolworth

2 | Young She . Young pegs + 24

N. Y. STOCKS

By United Press

DOW-JONES STOCK AVERAGES

* 30 INDUSTRIALS Yesterday ...coccceesscccces 141.28 Week ARO ....e0s00000s00000 151.10 Month Ago estsssssassnssone 142.64 Year ABO .....o.ose0ciseasss 117.11 High, 1939, 154.85; Low, 136.42. High, 1938, 158.41; Low, 98.95.

20 RAILROADS

“sect egsteccnnsnce

—0.40 +0.31 -—0.10 -3.18

29.46 32.75 29.61 Year ‘AgO :c.is.. cesses 22.62 =O High, 1939, 34.38; Low, 27.93. High, 19388, 33.98; Low, 19.00,

15 UTILITIES

Yesterday

23.69 26.00 24.82 teseetttecpenttene 17.56 High, 1939, 26.52; Low, 22.30. High, 1988, 25.19; Low, 15.14,

Week ARO ..occeocvsconcscss Month AO ....essnsscsscasse

Last uh 1g 7

High Low Nat Aviation oe . 11% Nat Riseutt, Nat Dair 5 . 267% 14%

+ HHH Se ae

No a No Am Avan .. 1735 SR an 8% 200 2008 Otis Steel .... 11% 11 Owens Ill Glass 62% 62% | . 317% 45%

Ohio Oil

Pac G & El Pacific Lig Packard ....... Paramt_Pict .

oe os

HREESS

tte

Cems

R Pere Marquette Epis] Pet Corp Am 9. Phelps dg . i

Pitts Sc & B

~ 8 ® Bo

ees 1454

+++ + re DHE HEE

Pure Oil Purity Bak

Republic stl. 9% Republic Stl pi: 80% Revere Cop .... 15 Reyn Tob B .. 38%

Safeway St Jos end oa Ya Seasr Roebuck.. 8

. 18, os 26% eee 43% 144 6% 33% «20 eo 28% . 26% . \. 30% Srudobaken®) sess 1% fl Texas COrp .... 3278

. 13% 15 6%

tte

Ht EEE re :

. .

2h 297 13% 47

)

Transamerica

La PRaae R Fray

add de

Un Stores A a 2%

i Walgreen ...... 18% 183% 8 5%

pC Sa

Warner Br pf..

«DN ee ae

nN =

4 10654 . Ys 23Y 9% 41% 1 3% Ue 231,

Yellow Tr .

fe Nan

Nash-Kelv ..... 73 Ta

FIA HREREL RE FLERE ERE LE HRD HE

—s Zenith Rad .... 17%

17%

The General Motors-Cornell World Price Index of 40 basic commodities for the week ended March 11 was 61.0, compared with the previous week’s figure of 61.1. The United States index in gold decreased 0.4 point.

Production of steel in the United States last year dropped to a little more than one-fourth of the world’s total output, the lowest proportion for this country in 54 years, the American Iron & Steel Institute reported today.

February completions of wells in oil fields east of California declined to 1855, a drop of 39 as compared to January's total of 1894, the Oil City Derrick reported today.

Automobile parts and accessory manufacturers appear in a more favorable positiecn to expand volume and income than at any time since late 1935, according to a new analysis appearing in Poor’s Industry and Investment Surveys. Sales of new cars and trucks, here and in Canada, are expected to reach 1,100,000 units this quarter, which would be somewhat higher than the figure for the preceding quarter and would compare with an output of less than 670,000 for the corresponding period a year earlier,

Preliminary reports from 93 Class 1 railroads. representing 82.3 per cent of total operating revenues, just received and made public today by the Association of American

“Railroads, show that those railroads,

in February, 1939, had estimated

7 |operating revenues amounting to

$227,976,660 compared with $206,576,=

41440 in the same month of 1938 and

$349,798,677 in the same month of 1930. Operating revenues of those

12|roads in February, 1939, were 10.4 132 |per cent above those for February,

TODAY'S BUSINESS BRIEFS

1938, but 34.8 per cent below February, 1930.

The use of asphalt for highway construction in 1938 was 63 per cent greater than in the pre-de-pression year of 1928, according to Joseph S. Helm, president of the Asphalt Institute, and the entire output of the industry was 44 per cent greater last year than in 1928.

A national architectural competition, with cash prizes totalling $15,000, was announced today by the Owens-Illinois Glass Co. Designs, which are to include use of glass blocks, are to be submitted for four different contests: Houses, store units, dairies and newspaper plants. Each competition is to last for three months, with the following prizes awarded in each contest: First prize, $1000; second prize, $750; third prize, $250, and fourth to eighth prizes, $100. Grand prize awards totalling $500 will be distributed at the conclusion of the contests.

Business failures in the United States in the week ended March 16 increased slightly to the highest level since Feb. 9, Dunn & Bradstreet, Inc., revealed today. Total insolvencies stood at 259 against 258 in the preceding week and 249 in the corvesponding 1938 week.

Lumber production and new orders slipped below the year-ago level during the week ended March 11, but shipments were 5 per cent higher, the National Association of Lumber Manufactur= ers said today. New orders were 2 per cent and production 0.5 per cent below the 1938 week. Shipments were 8 per cent, new orders 4 per cent, production 2 per cent less than the preceding week this year.

LOCAL ISSUES

The s[ollowing Sictations by the Indianapolis Bond & orp. sent actual bids or offerings indicate the approximate Snarket based on buying and selling quotations of recent transactions. Bid Ask

Corp Va

Tn Pub Sere 2% Ind Pub Serv 6% Ind Pub By 7 rogress Laun we Pub Serv Co of 1 Ind 6% pfd.. Bub Serv Co of Ind 1% pid. g 30 In SE

d G 2 Union Title C

% ofd.. pfd

Cam Van Samy Milk Co Com.

Amer Loan ; Oitip ens Ind Sel 4Y8 eynolds- Taylor ‘ss Ft W 5

ese .

add

Ss 5% Haute Water Wks 6a 49.. [ract Term Corp .

*Ex-Dividend... Market St

UNITED GAS INCOME SHOW SHARP DECLINE

United Gas Corp. disclosed in its annual report today that its 1938 net income was $3,657,059 compared with $4,403,984 in 1937. It was the first full year of the company’s operation of the distribution - properties which formerly had been owned by subsidiaries. Net income in the final quarter of the year amounted to $2,049,226 contrasted with $1,032,290 in the first three months of 1937. Commenting on taxes paid by the company the report said that a slight reduction in the 1938 tax bill

sulting from decreased gas and oil production, and through lower Federal income taxes because of the decline in earnings during the period.”

PHOTO—LITHO and PLANOGRAPH Prints

Cri) RENE ETT YA

| Indianapolis Blue Print

21$102,190,007 in 1938. This is equal

NEW YORK, March 21 (U. P.)—|

“came about through reduction of] mm severance and production taxes re-|

Car Demand Up

Alfred P. Sloan Jr. . . . “It is impossible to determine at this time .the form the current recovery movement ultimately will take.”

6. M. BUSINESS

LOWER IN 1338

|Company’s Share of Car

Sales, However, Rises 3.9 Per Cent.

NEW YORK, March 21 (U. P.) — General Motors Corp. total business in 1938 declined nearly 34 per cent from the previous year, but the company’s share of motor vehicle sales in the United States rose irom 39 per cent in 1937 to 42.9 per cent, the annual report revealed today. Total sales of the corporation in 1938 amounted to $1,066,973,000,

against $1,606,789,841 in 1637, a de- | May

crease of 33.6 per cent. Passenger cars and trucks produced were 1,307,749 units, against the all-time record of 2,116,897 in the previous year, a decline of 38.2 per cent. Other products made by the company had similar declines. Net income, previously reported in the preliminary statement, was

after preferred dividends'to $2.17 a share on common stock, and compares with $196,436, 998 or $4.38 a share in 1937. Alfred P. Sloan Jr., president, in his remarks to stockholders contained in the report, said that consumer demand showed a decided increase for 1939 models. “The better conditions prevailing during the second half of the year (1938) had a very important effect upon the record of the corporation for the year,” Mr. Sloan said. “Manifestly, it is impossible to determine at this time the form that the current recovery movement ultimately will take. The future alone can determine whether the recovery will be confined to a revival of the consumer goods industries and thus be definitely limited with respect to both scope and time, or whether it

will broaden out into a general re-|M

covery movement along a wide front and over a protracted period of time. The record demonstrates that good business in the United States never has been long sustained without the active support of the capital and durable goods industries which normally absorb about onehalf of the country’s industrial workers.

DROPS MEDICAL DEPARTMENT |;

NEW YORK, March 21 (U.P.)— Effective March 31 the New York Stock Exchange will discontinue its present medical department, and quarters now used for this purpose will be turned over to Dr. Robert S. Millen, who will provide "medical services to exchange employees and its affiliated companies, it was announced today.

LOCAL PRODUCE

Heavy breed hens, 15¢; heavy breed broilers, 4, lbs., and over, 13c; hens, under 4% ow JC; Leghorn hens, 11c: Barred and White Rock springers, 11%, lbs. and over, I5¢t colored springers, 1%2 lbs. and up, 14c; Leghorn broilers, 12 lbs. and over, 1c; spring chickens, 3 1bs. and over, 13c:

old Joosters .9¢ No. Tv eggs, 13c; 54 gross; a net deduction of 15c for. each full case under 54 lbs. will Re made. Butter—No. 1, 2503 No. 2, 23@ 23%ac; butterfat, No. c; No. 2, 117c. (Prices wisted By Wadiey Co.)

fresh countr, ae full case must w

5lac;

New Business Books Available at Library

The following new business books now are available at the business branch of the Indianapolis Public Library.

THE MANAGEMENT OF LABOR RELATIONS, by G. S. Watkins and hanges in industsial Don 9 techni L165, rap: expansion of unionize re ee social legislation, are incluged in this new volume which takes the place of the authors’ “Labor A enagement. »

DEBTS AND RECOVERY. sin} ry = 1929 to nsored the Mrwentieth Century. Fund.

THE COMMERCIAL PAPER HOUSE by ‘Albert

SLUMP A GENT

Decline Follows Dip at Outside Centers; Corn Also Down.

CHICAGO, March 21 (U. P.)~— Wheat prices slufiped fractions to a cent on the Chicago Board of Trade today in sympathy with sharp declines at Liverpool and Winnipeg. There was less concern over European conditions. At the end of the first hour wheat was off % to 1 cent, corn off 3% to 5% cent, and’ oats unchanged to % cent lower. Opening prices in the local wheat pit were 5% to 7% cent lower, and a further decline at Liverpool and a break of 2 cents at Winnipeg led to further pressure extending local losses to 1% cents before fair support was uncovered. Mills were on

‘| the buying side and scattered com-

mission house demand also brought about a fractional recovery from the extreme lows. Weather conditions continued fair and warm in the winter wheat belt, which restricted selling in Kansas City. The forecast was for continued dry conditions. Corn prices fell off in sympathy with wheat. Export inquiry showed some improvement, but .actual sales were small.

CHICAGO GRAIN

Opening prices today on the Chicago Board of Trade, as reported by Thomson & McKinnon, were: 1 July Sept.

Wt [email protected] $.61%@.6736 $.61%@.61%

Corn sh @.47% 4916 501%

Oats— 287% Ssssenntere Rye— sessasasves +4878

WAGON WHEAT grain - elevators are paving for No.

63c; other grades on their merits. Oats,

Sash corn, new No. 2 yellow, 42c.

LIVERPOOL YHEAT Low Close

=$ ao $ S0s $ 60% 577 517% 8 y 60% 62%

BONDS GO AT PREMIUM

NEW YORK, March 21 (U. P.).— A new offering of $22,500,000 in 32 per cent debentures of the National Distillers Products Corp. went to a premium almost immediately today at 101% bid and 103% asked. The issue was offered by a syndicate headed by Glore, Forgan & Co., at 100%. The debentures are

Prev.

March, oe

59 61% 61Ys

exchanged for common stock of the corporation at $35 per share for the first $7,500,000 surrendered, at $40 per share on the second $7,500,000 converted and at $45 per share on the remainder.

Chicago Stocks High Last Allied Lab Ine . cescasess 14Ys : At iat & -Tran Borg Warner a Brown Saw A Chain ‘ Chgo Corp Comwlth Edison” Deere & Co 4 FOX P BreW .....ese00. 13}2 Gen Financ ........... 2% >ileman Brew .. 2 Va

ow 19 anes . 18% vovensssessll

(EERE EER ER] 31, 18%

Low 14%,

3 vssesnss : 20s

Rolling Hr resesssses Walgreen Co. .......... ;

FOREIGN EXCHANGE

NEW YORK, March 21 (U. P.).—Following are noon cable rates on major Clirzens

ue d a Ca able; Rates o Coenes ges ] un Eng." (60- Pop b. rate)... 4.67 5- 1 I i: 11 Caghda facta aan 99 7-16 + 3 116 France (franc) ... Tasty —.0000%

3, 184

Germany (tr. Switzerland franc) - Holland (guilder) Sweden (krona) Norway sons, eh enmar, ron Spain (Franco peseta) . Nae

U. S. STATEMENT

WASHINGTON. March 21 (U. P.). Government expenses and receipts for the current fiscal year through March 18, compared with a year ago:

ear .64 $5,

Last Yea 309, 14a, 033. 3 09,067.68

..15,008,022,080.12 12.779,605.104.41 Customs .. 227,693.043.55 = '280,015,319.04

INDIANAPOIS CLEARING | HOUSE

ClearingS sc.siescescsiscsones ++$3,923,000 Debits ; 7,171,000

FOOD PRICES

CHICAGO, March 21 (U. P.).—Apples— Michigan Mackintosh, bu., $1. 001, 70. Sweet Potatoes—Tennessee, bu. hampers, 95c@$1.05. Carrots—Illinois. bu.,« 40@60c. Spinach—Texas, bu., 60@75c. Tomatoes— orida, lugs, $1.75@ California, crates,

Yellow Danvers, $1.10@1.

WOODSTOCK TYPEWRITERS

All Makes Rented and Repaired Quality at a Price

WOODSTOCK TYPEWRITER CO.

ee b! buying and selling open-market notes is as old i commercial banking in this countr,

BLOOD AND STEEL: OF THE HOUSE OF Bernhard Menne., “A firm in adroitness of intelligence Fal its sompeiitors in the atfament inus

MANUAL OF SERVICE ST TION MERCHANDISING AND MANAGEMENT. mp. by National Association of or Retailers.

THE RISE KI

Simonizing Your car washed, Simoniz cleaned, Simoniz waxed and chrome pol-

80 8. Pennsylvania St. Ll-4712.

Psy | Plus ADEQUATE INCOME

All socounts insured up 10 $5,000, U.8. Government chartered and supervised.

* SAVING i PEG Ba

ished, only ...... 3” :

BLUE POINT Jeiames

_ & MADISON

ASSOCIATION

Indianapolis Bond and Share Corporation

129 EAST MA

RKET STREET

~ AT CHICAGO PIT|

10-year convertibles and may be|7,

"ON THE

TONIGHT

7:30--Dick Powell, WFBM. 7:30—-Information Please, WENR. 8:30—Fibber McGee, WIRE. 8:30—~Benny Goodman, WFBM.

Dick Powell will replace Al Jolson as M. C. of the former Jolson program at their broadcast at 7:30 o'clock tonight, CBS-WFBM, with W. C. Fields as his guest star. Delores Del Rio, screen star, doubletalking Cliff Nazarro and Marjorie Wilson, the “Charm Lady,” will have parts in the show along with the regulars, Martha Raye and Parkyakarkus. 4 ” # ”

Guesting on Bob Hope's program at 8 o'clock tonight, NBC-WIRE, will be Willlam Powell of - “Thin Man” fame. He will swap back fence gossip tonight with Patsy Kelly and the M. C. 8 8 8

An address by President Albert LeBrun of France at a luncheon in his honor at the Guildhall, London, will be broadcast at 7:15 a. m. tomorrow (for the early risers) on NBC-Red. A British interpreter will summarize the President's talk. A 2:45 p. m. tomorrow, a description of the arrival at Covent Garden, London, of President and Mme. LeBrun, with King George VI and Queen Elizabéth of England, to see a command performance of Tschaikowsky’s “Sleeping Princess” ballet will be an NBC-Blue feature. 2 2 Dr. Albert IBealh scientist and humanitarian, will speak on behalf of the United Jewish Appeal for Refugees, 9:45 o'clock tonight, CBS. Dr. Einstein will talk from Princeton University, where he is a member of the Institute for Advanced Study. The United Jewish Appeal is conducting a campaign to aid refugees from Germany, Hungary, Czechoslovakia and other European countries.

» 2 2 A new instrumental trio discov-

RADIO

will be sprung as a surprise’ tonight for Washington jitterbugs on the Goodman program at 8:30 o'clock, CBS-WFBM. The trio will play, “Well, Al Right.” The “killer” tonight will be “Swingtime in the Rockies” and Martha Tilton will sing “Tears From My Inkwell.” Benny's revival nume

bers will be “Thanks for the Meme ory” and “Limehouse Blues.”

8 8 =

The inside stories of the French Foreign Legion, the famous “Sleep Shop” of Norman Dine and gamblers’ aversion to gambling will be revealed on the second broadcast of the Inside Story program, 7 o'clock, NBC-Blue. Col. Robert Gerard, former come manding officer of the legion, will be on hand to present a true pice ture. Mr. Dine, who deals in anti insomnia devices, will tell how he breaches the gap between the ‘ho hum” and the “zzz 22” stages. Michael MacDougall, “card detective,” will tell why gamblers don’t gamble. Mr. MacDougall was scheduled for last week’s program but was forced to postpone his visit.

8 2 =

The “For Men Only” program will have George Jessel tonight, 7:30 p. m., NBC-WIRE, as its new mas ter of ceremonies. He succeeds Fred Uttal. Mr. Jessell will interview Dr. Henry Calvin, president of the Adventurers’ Club, who cape tures wild animals by lassoing: Mar< garet Fishback, poet and author of “Safe Conduct”; Rube Goldberg,

cartoonist, and Noah Beery, film ‘actor.

» ” ® Spring training gossip from the

(training camps of the Cubs and

White Sox will be broadcast by Charley Grimm at 6 o'clock tonight over WBBM from the Cubs’ traine ing camp on Catalina Island and the Sox’ Camp in Pasadena. Come ments will be made on records which will be sent by air express’

ered by Benny Goodman in Newark, ® 2 8

to Chicago. #

THIS EVENING

(The Indianapolis Times ts not nouncements caused by station hanes i i pass + ii ic

INDIANATOLIS 1280 one Net.) (NB MAO)

Qlies, fiefurs Senate L 9. Program Tea Tune t Overa [fant Edition Varieties

Spelling Bee Govt, Reports Dick. Tracy Ralph Blane

Easy Aces Varieties Oscar Shumsky Newspaper ot 2

4:00 4: :18

Christ. Science Howie ing Jordan Cons,

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New: Tony & Bill Second’ Husband . Big, Town

Dick Powell Men's Program

IN IANAROL Ey 43

Johnny Presents

INCI OWNER (NBC-MBS)

Hannah Terry & Pirates Jack Armstrong

wi SHC AGO WLS-WENR 870 (NBC Net.)

Biltmore Boys Swingtime Landt Trio Edward Davies

Don Winslow Molcolm Claire Rollini's Or. Sports

Easy Aces Lost Persons Sports News

Light Opera Ariens Le; Information

Non Winelow Causer’s Or. Nixon Denton Lowell Thomas

Amos & Andy

ba rues 1 n on’ eve Inside Sports

Jo ohpnie A100 Men's Program

We, The, People

Goodman's or. Fibber McGee

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True Stories ” ” Doc Rockwell ”» ”»

Crumit-Sanderson Fibber MoGee

Dr. Christian

Jimmie Fidler Dr. Einstein News Jay's Or. Casa Loma Or.

Bob Hope

Uncle Ezra Carl Baker

Amos & Andy ews Kinney’s Or.

Variety §bow , Uncle Ezra o., Dreams

Peter Grant Fisher's Or. Lucas’ Te

Lyon & Marlowe Smoke Dreams Inside. Story

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WEDNESDAY INDIANAPOLIS WFBM 1230 (CBS Net) Early Birds

(NEC-MBO)

Devotions arkets

Tunes &, Taps

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Central City Other Wif

Kitty K Farrell's “Kitchen

Stepmother

Fact Finder Scatter od Biz Sis Life go WO

Mary McBride Nancy James , Farm Circle

ife Plain Bill

David Harum Lorenzo Jones Widder

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Singin’ Sam Linda’s Love Dr. Malone Markets

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Headline WIRE Reporter Voice of Exper.

Betty & Bob

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Farm Program News

Earl Gordon Manhattan

Lenten Service Dr. Susan School of Alr

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Swing Trio Take A Note.

Police Court

Sieia “Ba Wife allas Vie Sade Girl Alone

1. U. Program

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Navy Band

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Varieties

INDIANAPOLIS WIRE 1400

Woman in White

Bro Editor s Daughter

Surgeon’s College

Sounickelfits Band Ben Bern Moon River

H. Kay’s Or.

PROGRAMS INDIANAPOLIS CINCINNATI (NBO-MBS)

Checkerboard Renfro Valley

Time to Shine Peter Grand Caravan "

Devotions Revelers

Breakfast Jam

Checkerboard Breakfast Jam

Over Coffe Cups Pan, Allison Present . & Mar

ting Fashion Fontlights Hillto os Surgeon’ s_College Gospel Singer

Out of Past Once Uvea Time Charm House Meet Author Charlie Cook Julia Plake Cugat’s Or. The Goldbergs

Kay Bartlett Linda’s Love Vie & Sade Public Schools: Farm News Road of Life

Editor’s Daughter The SNe ills

Farm Hour ” ”» Farm News Voice of Farm Happy Gilmans

Bett 8 Bob

Betty Crocker

Mary Masnin Ma P

Guidi

Mad i Club Matinee Beautiful tafe Kitty EE

Hann Terry r Pirates Jack Armstrong News

Castletim Noon Hn

School for Brides Boy Greets Girl

Back Home . Frank Dudgeon Sleepy Hol ow

Matinee ” ”»

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Pianorama Rhythmakers Conpert Hour

Shut-n Friends

fray Folks Melody Time

Indiana Laws ZaZo0Zoology Old Refrains Hawaiians

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

NBC-RED—WEAF. 660; WTAM, 1070; CBS—WABC, 860; WIR, 750; WHAS,

WWJ. 920: WMAQ, 670. 820; KMOX, 1090; WBBM, 770.

MUTUAL—WOR, 710: WHK, 1390: WHKC, 640: CKLW. 1030: WSM, 850.

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