Indianapolis Times, Indianapolis, Marion County, 30 March 1939 — Page 31

THURSDAY, MARCH 30, 1989

STOCKS LOWER AS RALLY FAILS “70 GET SUPPORT

Volume Dwindles Below Yesterday's” Total; Losses Small.

NEW YORK, March 30 (U. P). —Prices turned down on ‘the stock market in the early afternoon tracing today after holding small advances during the morning dealings. Gains made in the first part of the session failed to attract new buyers and traders turned to selling. Volume, which yesterday fell below the half million share dwindled further. U. S. Steel, Chrysler, Anaconda, New York Central, Standard of New Jersey and U. S. Rubber were down fractionally as the market turned into the fourth hour. Losses of 2 points or more were noted in U. 8S. Industrial Alcohol and U. S. Smelting. . Some of the airplanes held part of early advances that ranged to more than a peint in Douglas Small gains were held by Texas Corporation, Westinghouse Electric, and AT. X Moderate gains lifted most U. S. Government bonds traded on the New York Stock Exchange to new record peaks. Domestie corporation loans were steady and foreign funds advanced irregularly. Gains in U. S. Government funds ranged to 9-32, point. Firmness in Danish obligations on gains ranging to around 2 points featured the foreign section. Lockheed set the pace in the aircraft group on a gain of 1% points to 30. Bell Aircraft moved up mere than a point while Seversky.and Brewster . improved fractienally. Other industrials generally were narrowly mixed. :

HOGS RESIST

PRICE B00ST

Sellers Try Futilely to Raise}

Levels 10 Cents; Vealers Off.

After a futile attempt by sellers to koost prices 10 cents, hogs sold at steady levels at Indianapolis today, the top holding to the record low of. $7.30, according to the Bureau of Agricultural Economics. Vealers lost. 50 cents to $1, the tep price declining to $10.50. A weak to lower undertone was apparent in sheep and lambs, with receipts light. March Tap Repts. gs

2 92

Repts. March Top 1300 28... 6321 "9 .... 1. aoadl 29 .,.. + 30° 6787

7.50

Barrows and Gilts | Packing Sows Good and 275- 350 § 6.40- 6.6 oice 350- 450. 6.25- 6.50 140- 100 ) $ 6.65~ 7.20 425~ 450 6.00- 6.40 160- 180 i.13- 7.22 Medium 180- 200 7.25- 7.30] 42o- oy 5.75- 6.35 200- 220 1. 20- 7.30] Slaughter Pigs 220- 250. 17.05- 7.25/Good and Choice— 250- 290. 6.35- 7.16{ 100- 140 §$ 6.30- 7.156 290- 300. 6.55- 6.90; Medium. . 6.00- 6.75

CATTLE (Reechpls, 534)

Balls ha el hts— G'd

0500 11.00-12.50 a0 Yl 00] -877.00- 7.68

400- =iie. 4 1 1.25- -13.80 1100-1300. 11.50-1 Ly 8.50- 680

Good— 750- 000. 9.25- 11.25] Fs 900-1100" 9.30-11. 2 ol 1100-1300. 9.50-1150 Choice ..$10.80- -10.50 1300-1500. . 8.00-79.00 5.00- 8.00 ves 7 95 3. 2+ hol (Receipts, 598) “250~ “00 $ 8.00- 9.00 7.00- 9.0

| Good 5.00- 700

Hoi 9.75-10. | Common 5. 200 6.00 an

eeder 8.25- 9. 5) Stories Cattle ee

8.25- 9. 3/3000

- 800..8 8.257.00- 8.25 Bh 1300 : 8.25-

0 rire 7.50 Cow 7.00- 0 133 Common 7.006. 6.90/Good and yk 0- $ 7. 50 8.25 4.25- 5.15 my and | medium... 6.00- 7.50 SHEEP AND LAMBS (Receipts, 308) Lambs Good and choice Good and medium . Common

Steaium . ut. <etn.

750- ¢ 900.

Heifers Cholce— 750- 900.

Good - 750. 900:

Med 730- 1100 Commo 9. 550- 900. 9. Geod § Medium Common Low cutte & aT

9.50 8.75 7.50

Good and choice .... ...qs. = 5.00 Common and medium ....... 4.00

CHICAGO LIVESTOCK

Hogs — Receipts, 8000; market opened StEan to 10c lower than Wednesday's average; later trade 10c off, with spots 15c or more lower on weights 20 lbs. down; top, $7.40 E34 and ehoice 180-240 1bs., $7. 20a. 40: 250-280 1gs., guosily sT@ 7.25: 290-320-lb. butchers, \$6.75@7; good medium weig ht and heavy packing sows, $606. 35; light butcher kinds to 36.50. Cattle—Receipts, 3400; , calves, 1500; largely steer and yearling’ run; fresh arrivals increased by moderate holdover from Wednesday; tirade very’ dull and weak; most steers and yearlings here of value to sell at $8.75/@11; strictly choice offerings absent: few loads sold at $8.75@ 10.75; fully 50c lower than week ago; other killing classes. scarce, steady to strong; cutter cows, $5.75 down to $4.50; 1 iy gauss e bulls around $7 with able; weighty vealers, $10. ar Strong but light vealers tending lower ot [email protected]; stocker and feeder cattle 25e lowe rthan week ago; meaty feeders showing most. yecline, n. eep—Receipts, 000; late Wedne fat lambs mostly 25¢ lower; sheep, nesdsy .65; bulk under 100 lbs., $9.50; 102-110-1h. averages, $9.259.40; today's trade fairly active, fully steady; good to choice lambs downward from $0.50; best held $9.656:9.75 and hetier; first California spring lambs as yet unsoid; sheep strong 2S 5c higher; top . 109-lb. slaughter

OTHER LIVESTOCK

CINCINNATI, March 30 (U. Salable receipts 2000; total, over, 70. Market steady; 30; 275 lbs., $7; 100-140 lbs. $39006,55 65; Balk acking Hos $5.25 @pTs able receipts, 300; tota Calves—Salable receipts. 250; fotal, 3%: Market slow. steers about steady, heifers little changed, and - bufls about steady; few lots medium to good steels $910; few small lots medium heifers, plain to good heef cows mostly

P.) 0gs— 2100: hold-

ris 3 gs. san. bulk lew cutters and cutters, $5/: qi: bu bulk bulls, [email protected]; vealers oS

p—Salable receipts, 50; total nominally pa on eager’ a ; good and choice wooled lambs quoted ! common and medium, gible t o $9: et iors, latins eli. a: 51 $15 oad dowr; slaughter Ea %

YNE. March 30 (U. P.).—:

25120- 140 1bs., $6.40: ughs, $5.75; stags, se 75; calves,’

5. $10; lambs, $9.25.

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

mark, |S

s) Am Clan A. ‘|Am Cyan B . 34%, Atlas Corp wis = 16 Bath -Ir Wks.

Lenieh ¢ Air’

NY.S

Net Last Change Alpha P Ca Cem . 3 in&: Am & Am &

yg Am Am Sme T&T

aan

A £3 La SUE

F Tr ot 111 fride&l, ... 3%

A Anaconda... Armour Ill pr ot 402 Asso Dry Cds 8% —B—

hio ... 6 6 Ole 23Y, 66

Avn .., 23% Steel vous 66% Ai 2

40% 8%

+: LEH +

40% 8Va

: IS

6 23% 86 Ya

at 2 No £3. se

25 18% 8 62 24%

[a a

Callahan Zine. . Calumet & . it Caterpillar TT. . 38 Cent Aguirre .. Cerro de Pascoe HA Ch M StP&P pf 7 Chrysler 4 Colgate-P-P Colum Gas ....

Qa B... Cont oi Del .. Gran Co 63a fone Zeller pf 8s Crucible St ... 35!

D Lac Ww.

& 6Ys Douglas Air

oie BY ... 65% 657% fe El Pw & L$6pf 38% 28% El Pw & L $7pf 3 3 Eng Pub S Tove 10%

28Y2 10%

Fed Wat S A.. Firestone T ... Flintkote Preept- Sulphur.’

1% 22%,

21%

THE HEE 4

24 21%

Gen Eleetric .. 38 Gen -Foods .,.. 417%

b - 38 Gen Refract .. Gen Stl C pf.. Goodrich Goodyear 1 Gt North pf.... 24% 24%

+14: mE

Hall Print Houd-Her B Hudson Moat ..

Ill Central .... Hi Cent LL.... Inspiratn Cop . iy ickel &P

tht P&P pf. . 124

033)

Kelsey-Haves A 12% Relsey-Hayes B 34 resge SS .... 23% TESS eevee season 26%

Laclere G co. 10

g Bell,

“u, 104° 105% 3s vd 13% 13%

1 BH 0 9

[18 ta

Marshall Fd Martin 1 May D S Maytag 1 pf .. a 0-K Tex: pf . Mohawk Cp .

1/,

. BY BELLARY 111

Nash-Kelv ..... Tg

1314 2672 207 7 14%

23% 12% 17

Ne t Lead Negpe

entral ..

Dun '& Bradstreet’s weekly index of 31 food commodities in the week ended March 28 declined 2 cents to the level of March 14 when it reached the lowest point since

mid-August, 1934, the company revealed today. The index stood at $2.29 and compared with $2.44 in the corresponding 1938 week. Increases were recorded by wheat, oats, butter, potatoes and lambs

53 while corn, rye, pork, ham, bacon,

lard, cottonseed oil, cocoa, eggs and hogs registered decreases.

a a =» Contracts closed by the fabricated structural steel industry in February amounted to 77,036 tons compared with 101,559, tons in January and 57,144 tons in February, 1938, the American Institute of Steel Construction reported today. ” » ” National freight car loadings for

increase 12.6 per cent over the corresponding 1938 period,

the Association of American . railroads reported today. On the basis of compilations by

the 29 principal commodities will total 4,684,443 cars ‘this quarter, compared with 4,159,034 carloadings in the second quarter of 1938, ” ” 8 The movement of foods to consumption through regular distributing channels is running better than last March, but many distributors are “jittery” and “excessive price competition” has created uncertainty in many quarters, the American Institute eof Food Distributors, Inc. said teday. “The attitude toward business conditions during April and May continues mildly optimistic,” the Institute said. “About half of reporting distributors expect better comparisons in the weeks immediately ahead; a third are afraid there will be little change, and the remainder are getting pessimistie.” ® 8 =» Employees of Eastman Kodak Co. today had received $2,144,334 in wage dividend checks. The payment was the 27th since the company put a profit-sharing plan into effect, in lo12, The wage disbursement is

Chicago Stocks

Last 62%,

Low 62

Ys 262

Chgo Flex Shaft 7 Comwlith Edison ..,.... Decker & Cohn ., . Four Wii Drv .. Goodyear T&R . Gt Lakes Dredge evs Hall Printing ..... . Hellman Blew Hibbard S&B

3t Louis Ns’ Yds. [hompson JR ...

Tra Co Zenith Radio 17%

( urb Stocks

23 23% 24 13-16 13-16 6 6

26 8% i, bY 195

28 i 1353 4% 315

141: 4: ++

- a

Con CaN |

. at

x Tn ‘tort

Mont Ward J Z

be “Hpi Pl Pl Gl ¥.

a ha. - ~

HEIR LF:

Baal of

0 hie. |. 1 €

a ® Ohio Oil .ivese

: Rean-Antel

+. | Tex Gulf Prod .

: 4| Trans West

5 Union Carb a

A Woolworth

4| Yellow Tr i Young Sheet .

the second quarter this year will

according to the Shippers’ Advisory Boards,

the 13 advisory boards, loadings of

TOCKS

1.14 United Press

DOW-JONES STOCK AVERAGES

30 INDUSTRIALS ceterear 1: 100.78

ses escccosen Sete

+ 0.42 +0.82 —0.19 -2,02

Yesterday Week ago Month ago <ooeee Year ago

High, 1089, 154.85; low, 136.42, High, 1938, 158.41; lew, 98.95. 20 RAILROADS Yesterday .... Week AZO ....c.o0c000qpsnsne Month ag0 ev sesescesssrs Year ago High, 1939, 34, 38: low, 27.93. High, 1938, 33,98; lew, 19.00, 15 UTILITIES Yesterday .... Week ag0 ,,oecorvsnscesesr oo Month 280 .cocpevnsesscasss Year ago High, 1939, 26.52; low, 22.30. High, 1938, 25.19; low, 15.14.

eesesece

te aoc

20.75 29.36 32.47 19.00

seavssssaccacce

cencgpeneren’

Net Last Change 16%

High Low 16%: 16% = 8%s Pa 39)

93 4

No Am Ava ...

ase

8Ys

Pac G & El .. 33% ackard Da Pict ... Benn RR Phelps Dgdge vy. 31 «112;

Panic ov Lee 3504 Bub Serv 8 pf 88,

Pur Purity Oak

Reyn Toh B “

Sears Roebuck . ;

outh Pac .... perry Carp “ee

wift Syming-Gould . 6%

43, 434 5. 4 Transamerica 6% Air 8% 20th Cent Fox. 21 21 Twin Coach ... 10% 10%

Union B&P ... 10% p 37% wee 3% es 18%2 oy 4, Lo. 43% .. 9872 . 85 55% —We

Un Aircraft

Walker (H) ... 44% 44% Yaiworth 6% 6Ya Ward 1 pf 37 3 Pa 0 1 Pt 108 106 West Auto Sup. 26 yosung, = . 100% 100%. EE

Wheel L093 Willys Sree ond 2%

Top

OTe

++ +1

. 41% wr . is

17%

17 42%

Zenith Rad ... 17%

TODAY'S BUSINESS BRIEFS

computed on the basis of dividends paid to stockholders. 8 8 » Baltimore and Ohio carloadings for the week ended March 25, totaled 42,601, comprising 27,925 cars lpaded on line and 14,676 received from connections, the highest number of loadings since the week ended Nov. 5, 1938, when the total was 43,023. 2 ” ” 2 Electricity production in the week ended March 25 declined to the lowest level since Jan. 7, but the year-

to-year gain widened to a new 1939 peak, the Edison Electric Institute revealed today.

MACHINERY FIRM'S OFFICERS RENAMED

Roy E. Adams was re-elected chairman of the board and William Ray Adams was renamed president

J. D. Adams Manufacturing Co, held here this week, it was announced today. Other officers re-elected are: Howard R. Meeker, executive vice president; Floyd D. Wallace, vice president; William W. White, secre-tary-treasurer, and W. E, Tirmenstein, assistant secretary-treasurer, A quarterly dividend of 15 cents per share on common capital stock, payable May 1 to stockholders of

record April 15, was declared by the board of directors. Members of the board of directors named at the meeting are: Roy E. Adams, William Ray Adams, Mr. Meeker, Frederick E. Matson, Mr. Wallace, John H., Turnbull, Morris L. Brown, Austin V. Clifford and Mr. White, all of Indianapolis; William H. Macomber of Kendallville and Louis McClennen of Cambridge, Mass.

CAMPAIGN FOR oT IN FREIGHT LOSSES

‘Times Special WASHINGTON, March 30. — Twenty thousand shippers and receivers of freight, together with representatives of various trade and

i commercial organizations, will join 4|with the railroads during the month

of April in a nation-wide campaign

#lto reduce Joss and damage of freight

in transit. With loss and damage claims paid

: toy the railroads last year approxi- . |mating 21 million dollars, the cam?|paign is being sponsored by the 8% | National Association of Shippers Ad- »| visory Boards in a determined ef35 fort to bring about better packing 2land handling not only on the part of shippers and receivers but also by | wor warehousemen, express and railroad &

companies.

; UNITED ORDERS 30

NEW WASP ENGINES

3.1 Times Special

CHICAGO, March 30.—United Air [3 Lines has placed an order with Pratt | & Whitney Aircraft Corp. for 30 wit BF ditional “C” type twin-row, 1000‘horsepower Wasp engines for its

deliveries are in progress, W. A. Patterson, president, announced today. The new engines give United mainliners a lop speed of 226 miles an hour and a cruising speed, utilzing only 85 per cent of available

at a meeting of stockholders of the

TRADING DULL: PRICES STEADY | IN CHICAGO PIT

Range Narrows as Traders Await Incentives; Rain Reported.

CHICAGO, March 30 (U. P)— Wheat and corn prices held about steady in slow, featureless trading on the Chicago Board of Trade today. At the end of the first hour wheat was unchanged to %& cent higher,

_|corn unchanged to up % cent, and oats unchanged to 3 cent higher.

Wheat prices moved in a very

s|narrow range as traders awaited

new incentives. Outside markets were generally dull, with Liverpool closing unchanged to 3: cent higher,

, land Winnipeg 1: cent higher at the

end of the first hour. Weather reports indicated only scattered precipitation in the South-

.?|west, but good rains over the rest

of the belt. The forecast was for

? cloudy and colder in the Northwest

and fair and warmer in the Southwest. Export business in North Ameri-

scan wheat continued slow, with sales

of about 50,000 hushels of Manitobas

4|reported overnight, and a few lots

of American hard wheat taken from the Pacific Coast. European developments attracted

2| some attention, but there was nothling to stimulate active buying in-

terest.

CHICAGO GRAIN

Opening prices today on the Chi-

i|cago Board of Trade, as reported

by Themsen & McKinnon, were; May July Sept, :

Wheat— Te @.67% $.6712 §.683% orn— 491% essasse

471% Oats— [email protected] 21%

cesses

WAGON WHEAT

City grain elevators are paying for No. 1 red, 63c, other grades on their merits. Cash corn, new No. 2 yellow, 42c. Oats,

LIVERPOOL WHEAT P rev. High oy Clogs close RE RB ARE AS 61% 5914, 6112

March old . 58% .61 Y -69% 61%

GZEGH INVASION HELD U. S. AID

59% 61

Survey Reveals Boost for 2

American Substitution Products.

CHICAGO, March 30 (U. P).— Adolf Hitles's invasion of Czechoslovakia will result in complete shutdown of imports from Germany and German dominated territory and increased sales of substitutes by American manufactur-

ers, according to Percy Wilson, vice B president of Marshall Field and 2

Co. Mr. Wilson based his forecast on

a survey of 5600 products represented in the Chicago Merchandise Mart which are affected by increased tariffs imposed by the State Department upon German imports. Dealers in gifts and glassware have felt most keenly the imposition of the increased tariffs, he said. Dealers and distributors of these products reported cancellations of Czech orders totalling 50,000 dozen items, believed to be worth more than a million dellars. American manufacturers, formerly unable to market fancy glassware hecause of import competition, have broken out molds unused for several decades to produce fancy ware, he said. U. 8. manufacturers have prepared to take over markets for stuffed toys, cameras, costume jewelry from Germany and synthetic and natural textiles from Czech mills, Mr. Wilson said. Distributors are making frantic efforts to procure substitute lines from American manufacturers, Mr. Wilson reported, and American manufacturers, “recognizing their advantage, are not proving too

tractable in the matter of prices,”

FOREIGN EXCHANGE

NEW YORK. March 30 (U. P.).—Following are opening cable rates on major Lure

rencies he Rates . 3.16 5 3 i 37-64 i Do 15- 184. 00d. i 16

dossss 00001 401115 Zao 7 A123 —!0002

Ta) eign) ih ( mark)

LOCAL PRODUCE

Heavy bread. Dens, 15¢; heavy breed broilers, 4% nd over, 13¢; hens unde 41, lbs. 14 "Leghorn hens, lic; and White Rock springers, 1% over, 15¢; colored springers, 114 lbs. and up. 14c: Legh broilers. 1% lbs. and over, 116: Ine N Aihara: 2 lbs. and over, 13c: So SB fresh i strictly fresh country run eggs, 130. each ful 1]. c st weigh 54 2 ross; a net Aion of 15 gents or oil ull gase under Sartiase; "Ro - er—No. @28c; No. 2. 25! 260; A Tot NO 1 2s 1100 2 (Prices Quoted by Wadley Co. 3

U. S. STATEMENT

WASHINGTON. March 30 (U. P.). Government exvenses and receipts for the curre i fiscal year through March 28, compared with a vear 2 p3 Last Year

C; Barre bs

S. an

94 . 30, "543.00 : 147618,550.30 Customs .. 237,000.338.38 288.531,428.67 INDIANAPOLIS CLEARING HOUSE

, 736,000 ,329,000

__ FOOD PRICES -

AGO, March 30 (U. P).— bu...

essee, h lech. 2 1ifl 0 @ Cc. oe aulifiower

DDlet

coast-to-coast mainliner fleet, and ps

4 |dianapolis.

oc.|a $10,071,835 loan to the Boston &

THE INDIANAPOLIS TIMES .

Twentieth Century-Fox Income Declines for 38

NEW YORK, March 30 (U. Pym Net profit of the Twentieth Century-

Fox Film Corp. and wholly owned |

subsidiaries, excluding Roxy Theater, Inc. for the 53 weeks ended Dec. 31 was $7,252,466, equal to $3.35 a common share, compared with $8,617,114, or $4.11 a share, in the 52 weeks ended Dec. 25, 1937, the annual report revealed today, For the quarter ended Dee. 31, 1938, net profit was $2,630,375, or $1.30 a common share, contrasted with $1,202,433 or 48 cents a share the preceding quarter and $3,718,220 or $192 a share the final quarter of 1937, National Theaters Corp. and its voting controlled domestic subsidiaries had a consolidated net income of $2,617653 for 1938 against $2,988,288 in 1937. Twentieth CenturyFox owns 42 per cent of the company’s outstanding capital stock and its interest in the 1938 earnings amounted to $1,099,414 comparegd with $1,255,065 the previous year.

” ” 8

NEW YORK, March 30 (U. P.). —Charles E. Denney, president of the Erie Railroad Co., told stock=holders in his annual report today that wages accounted for 62.5 per cent of the road’s 1938 operating expenses and that wage increases effected late in 1937 had resulted in an extra cost to the carrier of $1,444,795. Total wages paid last year, he said, amounted to $35,067,248. Operating expenses were $56,103,281 against $60,997,804 in 1937, while

N. Y. Bonds

BOND PRICE INDEXES 20 20 20 Inds. Rails Utils. 86.6 59.4 1009 86.8 59.3 100.8 86.8 60.5 101.4 95.2 50.4 81.9 92.9 97.1 102.9 $8.0 64.0 101.9 85.6 56.9 99.1 87.3 0.0 99. 749 479 813 95.0 101.2 106.0 69.3 92.3 1936 100.4 106.2 100.2 1936 84.7 103.5 83.3 (Copyright 1839, Standard Statistics Co.)

U. S. GOVERNMENT BONDS Treasury Bonds 40 J 104% 943- U eseses gi fe oi 2%s 2Vas 2Y2s 2%s 27%s 2%9 2%4s 2%s

60 Bands 82.3 $2.3 82.9 4 97.6 84.6 80.6 83.0 0.7 100.7 81.1

Yesterday soeee Week ago ..... Month ago ....

Two 1939 1939 1938 1938 1937 1937

years ago. High ..... Low High .....

assess

High .

Low 104. 24

Home Owners Loan Bonds 3s 1952-44 108.10 108.10

Argent 4s 72 Feb . Australia 55 57 ....e..

German 5%s 65 i.e Ital Pu Util Ts 52 Ttaly Ts 51 Poland 8s 50 DOMESTIC BONDS

Alleg Corp 5s 50 st . & O 4] 6s C 9.

taxes rose to $6,800.471 from

$5,516,580. Net loss for the year, as shown n ine company’s. preliminary rewas 29,777,184 against Wisi in 1937. na NEW YORK, March 30 (U. P).— Officials of the Julian & Kokenge Co., manufacturers of women’s shoes, today notified the New York Curb Exchange that it weuld purchase from shareholders a portion of the company’s outstanding stock. The company will purchase 7.6 per cent of the outstanding stock, from shareholders of record April 1, at $30 per share. . $ 8 *# NEW YORK, March 30 (U. P.). —The Associated Dry Goeads Corp. today reported a net deficit of $416,000 for the fiscal year ended Jan. 28 compared with a net profit’ of $12,000 for the previous year. Before preferred dividend re quirements there was a net in come. of $787,364 against $1,215,000 in the previous year. Net sales for the year were $56,224,528 contrasted with $58,456,570 in the previous year, Oswald W. Knauth, president, told stockholders that business improved to such a degree in the final quarter that it was decided not to make “a general reduction of wages, nor to undertake a major reduction in services rendered.”

U, S. WILL ADVANGE AAA CROP PREMIUMS

Times Special WASHINGTON, March 30—Advances from prospective agricultural conservation payments to finance premiums due on crop insurance policies are to be available immediately to spring wheat growers, the Agricultural Adjustment Administration and the Federal Crop Insurance Corp. announced today. Advances will be made under the authority granted the Secretary of Agriculture by an amendment to

Last the Agricultural Adjustment Act of 04.24 1938, approved March 25, 1939 by

the President. The plan calls for the AAA paying direct to the corporation the amount of the crop insurance premium due for the grower, which amount will be deducted from future AAA payments which may be earned by the grower. Advances will be available to all wheat growers who are participating or who agree to par-

, | ticipate in the AAA program,

1: NKESSON-ROBBINS

IMPROVEMENT SEEN

NEW YORK, March 30 (U. P).—

6 |Improvement in sales of McKessen 0 5s | & Robbins, Inc., was indicated to8

pws Inc 3%, Y Cent ref 5: 2013

Penn RR Ys Tex Corp 3'zs bl

COMMENDS STAND ON SOCIAL SEGURITY

NEW YORK, March 30 (U .P.).— The National Retail Dry Goods Association today “commended” the recommendation of Secretary of the Treasury Morgenthau that scheduled old age pension taxes be deferred and the pension reserves maintained at a relatively low level, “The adoption. of such changes would brighten the outlook for business expansion and would direct the future course of the. Federal Social Security program along sound lines without impairment of its objectives,” a statement by the association's board of directors said.

LOCAL MAN NAMED TO UTILITY POSITION

Times Special HAMMOND, March 30.—John H,

Walker of Indianapolis has been named vice president of the Indiana

Hydro-Electric Power Co. it was :

announced here today. Other officers named by the utility are: Dean H. Mitchell of Hammond, president;- Alfred E. Jost of Hammond, controller; B. R. Nightingale of Chicago, secretary, and

Philip J. Ryan of Chicago, treas- §

urer. Directors named by’ stockholders aret Mr. Mitchell, Mr. Walker, Mr. Jost, Laurence K. Callahan of .Chicago and Arthur R. Tomlin of In-

The firm showed a net income of $139,919.99 for last year, a decrease of $1690.04 from 1937, the annual repoit revealed.

DAILY PRICE INDEX|;

NEW YORK, March 30 (U, P).—

Dun & Bradstreet's daily weighted {Mu

price index of 30 basic commadities, compiled for United Press (1930-32 average equals 100): YESterday ...ooseersisasssses 10423 Week 880 .csessenrcarssnsss. 10482 Month 880 .ecoesesersenese..10621 Year ago visser 109.48 1938 High (March 6)........10647 1039 Low (Mareh 29).,...... 1104.23

EXTENDS RAIL LOAN

WASHINGTON, March 3 30 w. PB). —The Interstate Commerce Commission, by an 8-to-3 vote today authorized the Reconstruction Fi- .| nance Corp. to extend for two years

Maine Railroad.

Colonial Thrift Savings Accounts are Insured by Gov-

ernment Agcy. up to $5,000, Savings & Loan

§ MEMBE wy

~~ Association

EEE

y, (day in the preliminary report on 7 | February sales, released by William 631; |J. Wardell, trustee.

Sales in the. drug, and sundries

7 |department rose- 0.73" per cent inf Z|February to $7,913,442,

compared with $7,856,304 in February, 1938. January sales this year showed a gain of 0.04 per cen{ over the year ago month, _ Sales for the first two months this year aggregated $22,819,788, ecompared with $23,122.487 in the corresponding 1938 period.

BANKERS MEET FOR 2-DAY CONVENTION

Times Special CHICAGO, March 30.—Members of the Central States Group of the Investment Bankers Association of America met here today at the Palmer House for the first session of a two-day convention. Pubiic. relations. and Federal and state legislation were to be topics for discussion at today’s session, while tomorrow the bankers will review current and local problems,

LOCAL ISSUES

The following Juotations by the Indian-

apolis d do not repre=Hi Ban &, 5a, or offerings, but merely indicate the approximate market level based on buying and selling Quotations of recent transactions.

Stocks

gto Ivest Cor a R& Sie ook Yds com.

pid Cent Ind oy Home T&T Ft Wayne 1%. . *Hook Drugs Inc com.. d Gen Serv 6%

*Indpls W Y. jndapls Hydro Elec % pid.’ Indpls Gas Co 2 . *Indpls P&L 6% pfd *Indpls P&L 6%2% pi Lincoln Nat Life e Ing Co N Ind Pub Serv 5%%

Ask 9 54 ‘30% 54 13

Bd :

3: we

CWO =I=Ai th Jt JOU

- ne

T Haute Elec Co pid... nh Van Camp Milk C0 is.vnvtnss 8 Van Camp Milk Co com.

SUQ

A tnd el wis 61; Crabbe aN gylor Home

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Pra ory»: Market "Hk otment. corp on 2.58 URGES SOUTH TO RAISE SHEEP NEW YORK, March 30 (U. P).— Diverting part of the South's cotton acreage to sheep raising may solve the preblem of excessive domestic cotton production, A, W. Zelomek ‘told the downtown textile dredit group yesterday.

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ON THE

TONIGHT ; 7:00—Kate Smith, WFBM. 7:00—Rudy Vallee, WIRE. 8:00—Good News, WIRE. 9:00—Andre Kostelanetz, WFBM,

Merle Oberon, screen star, will fly to: New York from Hollywood for & radio preview of her new picture, “Wuthering Heights,” at T o'clock tonight, €BS-WFBM, as .a.feature of the Kate Smith program. Miss Oberon plays Cathy in the

story adapted by Ben Hecht and |W Charles MacArthur for the movies.

#8 8 8

A trio. of stars will visit the Good News broadcast at 8 o'clock tonight, NBC-WIRE. Virginia Bruce, Leo Carillo and Walter Pidgeon, late of “Society Lawyer,” will be guests of M. C. Robert Young. - Meliza Korjus will sing Mozart's “Turkish March” and “Just a Little Love, a Little Kiss.” Meredith Willson’s orchestra will feature the original version of “Deep Purple” and a group of “Silly Dilly” lyrics and the Good News trio, Frank Morgan, Young and Willson, will do their impression of the Andrews Sisters singing “Hold Tight.”

8 # 8

A singing tennis star, a wellknown pianist, and a cinema star magician will be guests of Bing Crosby at 9 o'clock tonight, NBOWIRE. Alice Marble, tennis champion, who took to singing in: New York night spouv:; Rudolph Ganz, pianist, and Chester Morris, screen star, whose hobby is amazing his friends with magic tricks, will be interviewed by Bing. Mr. Crosby's vocals will include “Hang Your Heart on a Hickory Limb,” “I Cried for You,” and the memory song, “I Want a Girl Just Like the Girl That Married Dear Old Dad.” ® 8 8

Guest starring looks good tonight for the variety programs. Claude

RADIO

Rains, stage and screen personality, will star on Rudy Vallee's program (7 o'clock, NBC-WIRE) in “Eigerwand,” (The Wall of the Ogre) by Arch Qbeoler. The scene of the play is laid in the Alps and the lines represent the thoughts of a man trying to scale the wall that has brought only disaster to others who have tried. gle a ia Three feet of rubber hose, six bot« tles and a rathophone will be used as additional orchestral equipment when Andre Kostelanetz and his orchestra play a special arrangement of film tunes, “Movie Music,” * on Tune-Up Time at 9 o'clock tpnight, CBS-WFBM. r The hose produces the “boops™ in the Betty Boop portion of the werk, the bottles are used in medleys: of “Popeye the Sailor Man,” and the rathophone, used as a bugle in Italy’s Alpine troops, will be featured when “Sonny Boy” is woven into the “Movie Music.” Other tunes included in the special arrange= ment are “Who's Afraid of the Big Bad Wolf?” “Good Ship Lollipep” and “Dance of the Kuku.” Ray Heatherton, baritone of stage and radio, will be guest star. : # » ® Fy The Dennison University Glee Club, organized in 1882 and now in its 56th year, will be heard over MBS at 3:15 p. m. tomorrow. The group of 35 men is directed by Pref. Karl H. Eschman, head of the mu=sic Sepatment at Dennison.

2 8 Dr. Howar: Hanson will conduct the Rochester Civic Orchestra in a program of works featuring gradus ating students of the Eastman School of Music at 7:30 o'clock tonight on NBC-Blue. Soloists. will be George Goslee, basseonist, playing the first movements of Bruhn's Concerto for Bassoon and Orchese tra; Wilfred Banasik, vocalist, offers ing “O Mio Fernado” from Donie zetti’'s “La Favorita,” and George Leedham, violinist, playing Brahms’ D Minor Violin Concerto.

£8 #8

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"KEY NETWORK STATIONS. (Subject to change): NBC-BLUE—WJZ, 160: WOWO, 1160; WENR-WLS, 870; KWK, NBC-RED—WEAF, 660; WTAM, 1070; WWJ, 920; WMAQ, 670,

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