Indianapolis Times, Indianapolis, Marion County, 12 May 1939 — Page 31

.e

er HARE SE

FRIDAY, MAY 12

STOCKS RALLY ON HOPES FOR TAX REVISION :

Losses Replaced by Gains After F. D. R. Statement; Rails Lower.

NEW YORK, May 12 (U President Roosevelt's disclosure that

he is not opposed

dealings fractions to

stocks in afternoon earlier drop of

ar an ilCL all

a point

fanv Many

issues replaced early Trading picked up mod-|¢

recouped virtually cline 10re neral Motors vious close. U. S. hlehem similarly re-| noon losses extending to ma jor fractions led much by Mr. its on rail legis-|

Of n

s of almost 2 points er priced issues in the up retained small declines.

vs tended to ease

1939

P)—|A!

to some form of Balt & tax revision brought a recovery into|/Ben Ind Foun today | Boeing ei

losses ¢ alu ime

all of | Shtysier than a Cl came back |col”

nd Union Pacific |

slightly |

in 11 trading los es generally were limited to fractions. | Profit-taking was felt in the U. 8 Government group but the light offerings caused recessions extending oniv to 6-32 point. Foreigns turned it ular following Thursday's upturn, although Warsaw 7s contrib-| uted to the recent strength displayed

in the Polish group with a 2-point gain Curb stoc Price changes were restrict-

"We tions

Standard Steel and Mir d 15 point Grumman os reraft Plate Gl: had minor advances. Many issues ste adied at the previlose i ockheed Aircraft lost point while Niles-Bement-Pond and American Gas & Electric were off 1:

point each

HEAVIER HOGS

trading ed to fra Lake Shore each while

12 gaine

Ous (

RISE 10 CENTS.

SE

Weights Below 160 Pounds Remain Stationary in Trading Here.

Hi weighing over 160 pounds today advanced 10 cents, the top price on 180 to 200-pounders ) $7.10, according to the Bureau of Agricultural Economics Lighter weights remained stationary Vealers were steady with the top price remaining at $10 Most sales of fat shorn lambs re barely steady to 15 cents lower.

JES

Most good fed offerings sold at $9.35, SOMe lower. May Top Repts. May Top Repts. | 3 S$ 1.25 8203 10 6.90 6065 6 23 1500 11 3.00 3283 8 3.2 Rs 12 3.10 6164 9 %.10 f028 Barrows and Gilts | Packing, Sows Good and 27 $ 6.00- 6.35! | Ch e | 350 155 5°90- 8.15 ) $§ 6.50- 7.05! 425- 550 5.35- 6.00 7.10! 27 ). 5.10- 6.00

Slaughter Pigs 4 nd Choi

CATTLE (Receipts, 176) Vs cl | Bulls $2,059,774 year ago, off 0.4 per cent; ght {3 months sales 85,219,233 vs. $5,081,1 345 year ago, up 2.7 per cent. G ol lL Island Creek Coal Co. and subsid4 AL en iy T 50-1000 laries, March quarter net profit 110 0.75 Codi: 8! go 3 30 $8299, 443 equal to 44 cents a common Me je ull and y |share vs. $327,219 or 49 cents year| 0 9.50] mnmon 5.50- 1 50 apo 1 ago. 1] Calves C ots

Feeder and | Stocker Cattle

to bring|

| Gimbe ts were mixed in quiet Goodyear

and Pittsburgh

|

|000; brokers loans up $15,000,000 to|170 equal to $2.86 a share vs. $147,

a pee -

N. Y.

STOCKS

By United Press

{early selling on reports of rains in western Kansas, Nebraska and parts 1s of Oklahoma.

«| the prospect of important puichases

GENERAL BUSINESS

Dun & Bradstreet reports retail trade this week 5 to 10 per cent| above like 1938 week. Federal Reserve reports gold stock this week up $55.000,000 to record high at $15,856.000.000; ex-| cess reserves up $110,000,000 to| record high at $4,190.000,0C0: cireu- | lation off $11.000,000 to $6,904, 000,-

$517,000.000; commercial loans upi 183000000 to $1.378,000.000; ratio! 185.3 per cent vs. 85.2 last week and

| 82.5 year ago. National Coal Association reports week ended Mav 6 bituminous out-|

put about 2850000 net tons vs. 4,673,000 year ago. | CORPORATION NEWS | Chicago Pneumatic Tool = Co. March quarter consolidated net | profiit $185.219 equal to 2 cents a

common share vs. $221,284 or 12 cents vear ago. Interstate Depariment Stores,

Inc, April sales $2.051497

National Power & Light Co. (parent company only) December quar-

| 431 year

| gO.

362 year ago.

| 840,795 vs. 898474 year

—A Net DOW-JONES STOCK AVERAGES High Low Last Change 30 RAILROADS Adams Exp Ta Tia 7% «| Yesterday ....... Sasssstvans 132.02 30.491 Alaska Jun 8's 8's 81a — 'n|Week Ago versaiania 18147 0.39) lied Chem 161 161 161 ‘er Month Age 126.20 —1.31 RIheS Bre = : T% es Cesselasttianies Al lied Stores of 62. 821s Giz ~~ 351Y0Ar ARO iiissiiiicn voeees 116.87 —1.68 Am Can dv. 87 ila git jik : iy High, 1939, 150. 85: Low, 121.44, 14m cat Sy ; Ne “81 3 = Vai High, 1938. 158.41: Lew, 98.95, Am & F Pwr... 2% 23% jg — 13 20 RAILROADS Am Mch & Fdy 123% 123; 123 = * | Yesterday Cie eL Se 271.31 0.07 m Rad & 8S S 12 2 2 -— 1; SS All Rod SER By Hug = {ween age ccc mn 26.86 —0.07 Am Sn . 41 41 41 -— piMonth ARO ....ciccoaiiiinen 25.08 —0.40 am Stl a itn hu -— Sa YORF ARO .....ci.ciiiiiis 23.15 —0.38 Am T & 61% 6 5s 813% <4 1a} 0 Am Tobacco . 793% 793; "93% ~— 4 High, 1939, 31. 33: Low, Lit Am Tob B «814 81% 814 ... High, 1938, 33.98: Low, 19.00, Am Tob pf .. 1403 i 4, 4. = RB 15 UTILITIES Autontds , 213, 24 3 2435 -— 4 tYesterday .ii.oo0iocidae 23.31 0.09 Armour Ill 4'a alls 41s ... Week ARO ...coiiiviiiiianis 22.90 —0.28 Atchison ...... 28% WW WR weer Month ARO .iiiiiiiiiieiinns 22.01 —0.30| Be YO8F ARO ...i..cciiisiiiiii 19.93 —0.31 Ohlo... a 5'% 31% (een High, 1938, 26.52: Low, 20.71, Cig 20 20 20 “ 3 19% 19% 19% I . High, 1938, 25.19: + Low, 15.14, { Beth Steel 56% 5614 561q — 1, Air 00 3nd Ima $i = se] Net Bo nd Stores ... 17'a 177s 1ITR «= 3g] Borden 3 gt OE = Wig HER Loy lan change | Meriane T of.. 40% 4015 $0 |. UFrAY cooevine pi 0% 0% cunn al a v . . - Nat Dairy .. 15's 15's 158 «ee met & H... 3* a a a + $j | Nat Gypsum 121s 121s 121 iiid al . 4 > '. { Nat ad 97s 97g 98 .... | Chay Pheu © ot. 99 : ih Bi wea INY Central... 14% 143% H3q, — YU Chl RISE & pf 42 1832 132 3 JAINYCASIL of .. 23% 23% 23% ... 68° 63° ‘63 x [No Amer 22 AN Ul — 12 ity I&F 9% 97% 9% .. * {No Am Ayn 157s 157s 15% .... limax Moly Co 39%, 391, 391, 2 1 | No Am 53: pf. 537%: 527g 537s + ate-P.I 13% 13 13% + 3% ~=0Broadcast A 18 18 18 . Ohia Oil Mm! Ny ke + Colum Gas ... 6% 63% 83% — Wi S HIOY ore 8° 7 ~ 3 Col Carbon an 83s 831s T 4 Otis Elev ...... 1f ; 19 8 Com Solvents .. 10% 10%, 1014 ~— i ve Comwlth Edison 273% 273% 2713, . (Pac G & El.... 303% 30% 303% + ! |Eomwith & So 13% 138 1s 4 lpiPacific Lig .... 48'a 46!> 48): 3 ons Edison ... 31% 313g 31s + 3% |[Paramt_ Pict . Q'yg 9's 8's ...: Cons Baton PF! pf 108, Toil: 1062 .. Pathe Him ‘ is, A a + lh C is 8 138 oo enn . 8la ] “ane | Cont Ins ...... 33 2 33'2 $312 Pere Mat vf... 193% 19% 19%: SE Corn Prod S12 572 B12 .. Pure Ol} ...:.¢ 8 8 8 . Crane Co ..... 23a 233 23% — 3% R— {Crown Zeller .. 10% 1033 10ig — % | ASL curtiss-Wr .... 8% 5% 8% + Radio ive 6% 658 6% 4+ oq | ma | Radio K' OF ... 17a 17% 178 4 Is Del & Hu 171 171 Rem Rand .... 11% 11% 11% — a < Al 134 ‘| n "nt 5 5 5 — Diam M pf i 414 ai ii¢4qy [Republic SH "+. iF pu (10% : ouglas Air 63 62 2% —-— 1 Sean — lf Safeway 3% AN TVs —-— |East Kodak ...157'a 157': 151% + 08 Load w 3 =n Eitingon Sch 1% : 4 11 ulte R 8 R Ig = Elec "Au o-1 091 29 ogi: =: Seabd Air L : ‘8 Ta 's i Flos Bioeth Ba fu oc, [Sears Roebuck: tHE mE qe Ll Ele Pu r& Lt 7 : "7e Te 8 S vel Inc ‘ 14% 14%g 14% — 1! El P&L $7 pf. 27 on a7 thas Shell Un Oil .. 118 11 8 11a sere Ene Pub & Flow 5 “ai Sete Simmons 923; 22% 2233 ~~ Eng Pub 8 9% +." * [Socony Vacuum. 12 12 12 “i —F— So Por R Sug.. 193% 193% 193% + 3% Fair Morse .... 28 28 28 .... [So Cal Ed .... 26'c 26% 26% .... G South Pac ..... 13's 13'a 13'a = 1 y A ia i {South Ry ...... 147% 143; 14% — 1 Gen Elee + 343%: 3435 3433 — Ba Sperry. Corp ... 4233 423% 423% ... Gen Motors... a3 a2 8 42a -— 33 Spiegel Inc « 1158 11% 1138 i.:d | Gen ' & R 20 20 20 «++s.. IStd Brands . 8's 6's G8 ..: i | Gillette 8 R 6% 6% 6% J ¥1i8td O Cal ..... 26 26 8. + bel pt 58 58 58 .... [Std Ol Ind .. 24% 24% HW .... vear ..... 2612 26! 2612 — 33[/Stone. & Web .. 11 11 11 “e Gt N pf 203% 202 202 — 32|Sun Oil .. .... 52 52. SB. id | Grerh Ore bf 3 131% EEL edi Sunshine Min .. aii a4e8 gait “een ireyh 5% ‘e R 12 17g = 8 | Superhtr tease 2334 247% 24°: “e =H aa Hayes Bdy .... 2% 24 214 ‘s | ves as Corp .... 31Va JM Ih Homestake .... 65'a 65!s 654 — 1 |Tim nk D Ax 1334 13% 13% 4 Houston Oil Bla 6's 6'a | Tra 2s & Wms. 6% 63s 67a 1s Hud Motor 51s 5's 5a =— 1 I'ri-C 215 21 n f= | 20th Tont- Fox.. 21: 21% 211% . Il! Central 12% 121% 120% = %| oe Int Nicke pt 1591s 15014 15914 . Und Ell Fish... 481% 481% 4814 — 34 Int Me i812 48! 48! - 13 /Uninn Carb ... T4!2 745 42 — Int P ° Pa. 31% 31% 8% Un Aircraft Cp. 314 37.4 87h — 1a Int & Tia ila i's =— 15|Uni Drug 5% 5% 534 — 13 hha U Ss’ Rubber 383s 384 383% .... Kennecott ‘S3e3s J212 32% lu 3 Rub 1 pl.. 334 98a 3824 il Kroger G&B |. 3% 21%. 20% 2 'wll 8 S5e oi 10a, 1080 00h = 4 4 81J S Steel pf...108%% 10834 1083; — —L- aya Loft, Ine ...... "a a 1% + %|yanadium 18% 19% 1% = 4% 102 4+ Yiwarner Bros 534 53% 534 ; os T | Wes Pac ‘ 3a 3s 3 J 1} 0834 T b | White Mot 9: 92 92 17% —Y= 1312 VaixXellow Tr ..... 14% 14% 14%: .. 20 — 121 Young Sheet 341; 34134 34; 1 . Business at a Glance By United Press net income $1,030,547 vs. $906,808

previous 12 months. Pond Creek Pocahontas Co. March quarter net loss $5687 vs. net profit $34,158 year ago

Scott Paper Co. quarter ended

April 2 net profit $322,734 equal to|} 46 cents a common share vs. $356,- | 27c

414 or 62 cents vear ago. Standard Oil Co. of New Jersey 1938 consolidated net profit $76.053,-

993.147 or $5.64 in 1937. United Drug, Inc, March quarter net profit $57.37 equal to 4 cents a share vs. net loss $319,545 year ago.

RAILROAD REPORTS

New York Central R. R. Co. March net loss $1,189,470 vs. $2.901,ago; three months net loss $4,304,673 vs. $10,196,338 year

Pittsburgh & Lake Erie R. R. Co. March quarter net income $356,295 equal to 41 cents a share vs. $2209 or less than 1 cent a share year ago; March net income $69,009 vs. $94,-

Rutland R. R. Co. March net loss ago, March quarter net loss $167,884 vs. $331,783 year ago. DIVIDENDS Acme Steel Co. regular quarterly 25 cents on common payable June 12 record May 24. Burmah Oil Co. final 10 per cent on common fof 1938, bring total to 15 per cent. The company also declared a 10 per cent cash bonus.

WHEAT PRICES | REMAIN NEAR FORMER LEVEL

May Futures Erratic: Corn Develops Firm Tone in Late Trade.

CHICAGO, May 12 (U, P)~— Wheat prices fluctuated irregularly around previous closing levels on the Chicago Board of Trade today. The May future was erratic. Rains in the Southwest were offset by unfavorable reports on crop deterioration. Scattered liquidation in the final hour gave the market an easier undertone, and at the close wheat was off 4 to 3: cent, May 783%, corn was unchanged to off 's cent,

THE INDIANAPOLIS TIMES

PLANE EXPORTS

PAGE 31

Business Briefs—

Insurance Payments Exceed Three Billion

Times Special

CHICAGO, May 12.—Life insurance payments in the United and Canada last year totaled $3.030,006,234, according to a special compilation released today by the National Underwriter, weekly insurance

newspaper.

This is ‘an increase of more t

previous year and the first time since 1934 that total payments have

exceeded three billion dollars.

UP 42 PER GENT

British and French Largest Purchasers of Fighting Craft From U. S.

May 50, and oats were 4 to 3% cent lower, May 34°<a. | Opening quotations in wheat were 3% cent higher to 3s cent lower. Early buying pushed May wheat up 1, cent, but the current month met considerable selling on the upturn, losing about a cent before steadying again, The new crop months encountered

The forecast was for |< continued unsettled weather in Kan- | sas and Nebraska. Support developed, however, on pessimistic crop advices which noted severe deterioration in winter wheat during the last few days. Liverpool wheat closed 4 to 5% cent lower, depressed by cheaper Canadian and Argentine offers and

of Rumanian wheat by the British Government. Winnipeg ruled about steady in a light trade. The Minneapolis wheat market was firm, reflecting dryness in the spring wheat belt, Kansas City was unevenly lower. Corn prices developed a firm tone in fairly light trading. and oats

| purchases of fighting planes, aero-

WASHINGTON, May 12 (U, P).— Reflecting large British and French

nautics exports from the United States during the first quarter of this year increased 42 per cent over the corresponding 1938 quarter. The Commerce Department said the quarter total was $20,405,195. March erports totaled $8,740,795, a 29 per cent increase over February and 46 per cent above March of last year. | The United Kingdom and France | were the heaviest purchasers during March. United Kingdom's purchases totaled $2,224524 and included 44 land planes and 24 engines. French purchases in March totaled $2,087,767 and included 36 land planes.

ASKS PERMISSION T0 REMOVE STOCKS

were somewhat easier. Rye futures

were strong under scattered buying]

stimulated by moisture shortage in the main producing area, with the September delivery at a new seasonal high.

CHICAGO GRAIN

Opening prices today on the Chi-| cago Board of Trade, as reported by Thomson & McKinnon, were:

May July Sept. Wheat— [email protected] £131:@.73% $.73%[email protected]% Corn— reds [email protected]% 541 5456 Oats— 3515 33's @.334% 31:@.31Y% Rye— pass 47 ‘eae WAGON WHEAT City grain elevators are paying for No.

red, 74c, other grades on their merits

| Shh corn new No. 2 yellow, 45¢c. Oats, LIVERPOOL WHEAT prev. | High JA Che Close May, old ..$.641; 64 $.64 $6412 May, new .... . 5934 505% 595g 604 guly ..:. 6214 62a 62 6215 | Ol, adiiiiis 645, 641 64! R47,

Corn and Wheat Region Official Weather

By U. 8. Weather Bureat ad —May 12,

1939— Precipi- State of

Stations high Lex tation weather Notre Dam ‘ 0 Clear Angola : . 80 3 0 Clear Wheatfield . 83 30 0 Clear Rochester 68 33 0 Clear Marion .......i: 71 37 0 Clear Lafayette ....... 71 40 0 Clear Cambridge City.. 72 35 0 Clear Columbus ...... 79 40 0 Clear Vincennes ....... 72 48 0 PiCldy Pach ....c.i00:: 13 44 02 Clear Ft Wavhe ..... 60 40 0 Clear Indianapolis 67 11 0 Clear Terre Haute 10 12 0 Clear Evansville ..... 70 50 01 PtCldy

READJUSTMENT PLANNED CLEVELAND, May 12 (U. P.)—

| President J. P. Seiberling of Seib-

erling Rubber Co. has informed stockholders of a plan to readjust capital structure of the organization in an effort to place “the

GRAIN MEN WARNED

NEW YORK, May 12 (U. P).— | Two issues are scheduled to be removed from the New York Stock { Exchange list, it was learned to- | day. The board of governors at its] meeting yesterday decided to request | permission from the Securities & Exchange Commission to strike off the $10 per capita stock of the Standard Oil Co. of Kansas. The listing will be maintained pending action by the commission. The board also suspended dealings in Standard Commercial Tobacco Co.,|

Inc, $1 par common stock, and made application to the SEC for] similar approval. In its application, the board

maintained that too great a percentage of the Standard of Kansas City stock was concentrated in the hands of the company and its management, since the former had acquired more than two-thirds of the [Rsenaine shares.

FRANGE HAS IMPORT | BALANGE OF TRADE

PARIS, May 12 (U. P.) —France had an import balance of trade of 4.843.000,000 francs in the first four) months this year, compared with 6.256,000,000 francs in 1938, official trade figures showed today. Exports in the first four months this vear rose 2,439,000,000 francs to 11.077.000,000 compared with the corresponding period of 1938, while imports rose 1,026,000,000 francs to 16,631,000,000 francs. Imports for the month of April were valued at 4,125,000,000 francs and exports at 3,034,000,000 francs. The import balance of 1,091,000,000 francs compared with a balance of 1.500,000,000 francs in the corresponding 1938 month.

| sengers to 48215444 in 1938 and a

[mained at 119, or 19 per cent above

| increased [unit overhead costs,

| then SEC chairman,

States

han 175 million dollars from the

to the report. Death claims paid totaled $1,085,081,721; matured endowments and annuities, $375,004,596; disability claims and accidental death benefits, $146,509,130, and payments for| premium savings and cash surrender values, $1,423,410,787.

and Queen, although last in point {of time. Of the total, 62.91 per cent went Will be broadcast Monday from to living policy holders and 37.00|a. m. to 10:30 a. m.,, Mutual.

per cent to beneficiaries, according | from 11:45 a. m. to 12:30 p. m. a| Government luncheon will be de- Quiz at

scribed, also on Mutual. bet is WGN.

son Welles, a prize fight, race, a horse race, and a new radio series.

ON THE RADIO

TONIGHT Clem McCarthy at the controls at

S00u<Luciite Manners, WIRE. 4:15 p. m. tomorrow, NBC-WIRE. :00—Burns and Allen, WFBM. y = 1: Orson Welles, WFBM. Mr. McCarthy will interview own 8:00—Guy Lombardo, WIRE. | ers, jockeys and sports writers at | the track tonight at 8:30 o'clock,

Never again let it be said that all NBC-Red,

things—good and bad—do not come | ¥ 5 » in large and very confusing bunches, | For the week-end, there are-—not | one, not two—but a half dozen good dancer and faculty member of the things on the air lanes.

Bobby Rivers, Indianapolis tap

| Stockman Dance Studios of Indianapolis, will be a guest artist on Block's High School Hour at 4 m. Their arrival at Quebec Ay PBC P ” » o Tomorrow, look for Professor noon, CBS-WFBM. He's | going to visit Holland, Mich. for [the tulip festival and will be there only incidentally to the flowers.... One broadcast that will not be heasd in the United States is CBS’ salute to the Broadcasting Corp. of Japan, | The company is moving its station, The station is known as JOAK,

First of all, there are the King

Again |

The best

In rapid succession there are Ora boat

Mr. Welles will present his pro-

st duction of Thornton Wilder's “Our | _ CHICAGO, May 12 (U. P)— | Town,” last year's Pulitzer Prize which proves that the Japanese A prediction that “all business in | play. The most unusual thing about €1ther do or do not have a sense of

the United States is going to have a good year” was voiced yesterday by Thomas J. Watson, president of the International Business Machines Corp. Earnings of corporations and the total income of the United States should be far ahead of last year, he said in commenting on the general business outlook, He also revealed that his com-

Mr. of settings. of Mr. Welles’ ingenuity,

sans sound effects. o'clock, CBS-WFBM.

humor. Sunday's programs include Jane Cowl and James Melton, actress and tenor, respectively, on the Magie Key, at noon, NBC-WIRE. . , , Ire |vin 8. Cobb and Owen Davis Jr. author's son, on the Circle with Madeleine Carroll at 8 p. m.,, NBC=WIRE. . . . A special War Mothers’ program {rom Arlington National Cemetery at 3 p. m.,, NBC-Blue.... Jack Benny broadcasting “Gunga

Wilder's play was his eschewing It will be a great test if he attempts to present the radio show The time is 7

o ” ”

The prizefight is between Billy Conn and Solly Krieger. Young Mr, Conn is the man who whipped Fred Apostoli and made the public

pany’s sales are being maintained | sit up and look around. Din,” with Mary Livingston as Miss at a high level. One consolation—the fight is Maryard Kipling. . . . Rachel Carley 2 #5 8 sable to last more Susan Just a ony singing “J'ai Ta Main” with Pierre a a ple of minutes. It starts a o'clock, LeKruen at 7 p. m., NBC-WIRE, oh PONCA CITY, Okla, May 12 (U.| k : : P.).—The deepest oil well in ok. | NBC Blue, [the Manhattan Merry-Go-Round.

lahoma brought in at the 11.426] foot level, has been broken through by the Continental Oil Co. at EIk| City, it was learned here today.

WASHINGTON, May 12 (U. P.). —A sharp decline in coal shipments and the retarding effect of the bituminous strike on industrial activity influenced a contraseasonal loss of 13,158 cars in loadings of revenue freight in the week ended May 6, the report of the Association of American Railroads disclosed today.

3 #4 # NEW YORK, May 12 (U. P).—

|New York Central Railroad suffered a 5.7 per cent drop in revenue pas-

{decline of 25 per cent in freight volume to 98,593,108 tons, F. BE. Wil-

liamson, president, revealed today in the road's annual report, 8 & # NEW YORK, May 12 (U. P.).

—Inventories of 101 steel consum=ing companies in leading American indusiries declined about 28 per cent in dollar value during 1938 and are reaching a level at which moderate business improvement apparently would bring quick benefits to steel producers, according to the current issue of the Iron Age.

Inventories of six automobile companies at the end of 193 tntaled $283,428,000 compared with $385,458,000 at the close of 1937, $328,818,000 at the end of 1936, and S278.652,000 at the end of 1935, the magazine points out.

” o ”

NEW YORK, May 12.—Total unit sales of radio sets maintained during April the same relative level as reached in March, and the Barometer published each month by Radjo and Television Retailing re-

the identical period of 1938.

WASHINGTON, May 12.—The Federal Crep Insurance Corp. today reported that approximately 156,000 premium payments, representing about 6,400,000 bushels of wheat, had been received from farmers up to April 29 for “allrick” insurance policies on the 1939 wheat crop. April 29 was the iinal deadline for receipt of premiums on the 1939 policies.

” 8 "

NEW YORK, May 12-~Manufac-turers of automobile and truck tires are experiencing sharply expanded sales volume, according to Poor's Industry and Investment Surveys. Organizations with large original |Jre sales will record the widest gain | for the year as a whole. However,|C [ peak car registrations and usage will [be of substantial benefit to companies selling only in the replacement market, the authority said. Material costs on the average will be higher than in 1938, but profit margins should be maintained because plant activity reduces

PLAN TO RESHAPE U.S. UTILITY SETUP

WASHINGTON, May 12 (U. P.) — | Securities & Exchange Commission officials today reported completion of an analysis which will serve as a basis for developing a program to reshape the nation's utility map.

Under the Public Utility Holding { Company Act of 19356 the commission was directed to determine the extent to which corporate structures of registered utility holding companies might be simplified to provide integrated utility systems, Last August, William O. Douglas, asked some 60 | holding firms to submit suggestions or proposals by Dec. 1. All the companies met the deadline, SEC officials indicated that the [next likely step would be informal | conferences wtih individual companies on integration problems,

APRIL GOLD IMPORTS NEAR NEW RECORD

WASHINGTON, May 12 (U. P.) — | Near-record imports of $606,027427 in gold during April were reported today by the Commerce Department, The inflow compared with $365,« 436,437 in March and $71,236,453 the previous month, More than half of April gold imports emanated from the United Kingdom, which sent $384,951,476.

St ar net i 5 BR 4 183 # eh FOHEES a sah i ter het income $1034,145 vs. $1844,-| Finance Co. of America (Balti-| company in a position ‘Where the E PRACTICES oro, 9.731030, 300-800 8 9.50 1400 | 537 year ago. : more), regular quarterlies 15 cents payment of dividends might be re_750- 900. 9.00- 9.75 Good Pennsylvania Edison Co. and sub-!each on “A” and “B” common. pay-| sumed at the earliest possible mo530- 900. 8.25. 8.00! B00- 58 $73: 330 sidiaries 12 months ended March 31 able June 3¢ record June 20. ment.” moh— iMedia 800- 4.18 — _— += CHICAGO, May 12 (U. P).—Di-| . Te 8.79 goo To of oni 8 Cup Stocks LOCAL ISSUES N.Y, Bopds 77 2 00 ovens suid of M 3.50- 7.25/Good and Uhoice— yo . * on S Trade today had warned members| Co \ 6.00- 6.50] 500 750 § 1 50 Net |. Lhe following guotations by the Indian- rd ; Low er | Common and 1 High Low Last Chaaige 2Polis Bond & Share Corp. do not repre- BOND PRICE INDEXES against entering into contracts for & r. 4.50- 800! medium 6.00- 7.50 Am Cvan B .. 237% 2314 931, —. DEF sent actual bids or offerings but merely i SHEEP AND LAMRS : ‘ [Am Rep cp 1 “834 = 34 indicate the approximate market level 20 20 20 60 |the purchase or sale for deferred LAMBS (Receipts, 918) {Am Super 0-16 9-18 0.18 based on buying and selling quotations of Indus. Rails Utils. Bonds : iB 6 FT Lambs Beil Air 243% 5a3 51. .-''y, |recent transactions. delivery of warehouse receipts for c . e 3 24% 21% a Yesterday ..... 84.9 554 101.0 80.4 i ‘e h Be il hiblce + asus shana ' Bu op afar 8st nl Stocks Bid Ask Week Ags .... 843 SLR 1007 yo.0| BTID In store here. M rd I€ i ahs =ilie] Aut tmvest corp "i . Month Ago .... 832 5334 993 3831] A communication to members Good an (on SHGTR VASISY Ic 20% 20% 20% [| Belt BR & Stock ¥ds coin... 51° 59 Year Age - R11 583 #53 382 igtated that in the opinion of the Co n qe E WH § jr Ep Cent Ind Far 3 id, aes 33 ‘38 1999 High Ap ao 610 1019 ay n|directors the use of warehouse Fae Bek Sede. BE hi he Toma ERLE, Nene i fio howe... 3 oa ‘my maleeints for future delivery of grain Glen Alden: . a5 \ "| Ho com ii. , 11939 Low ..... 3. 59.1 98. IR. C HIC AGO LI Iv BS STOCK I hy Ade ‘i Gin MR a «In Gen oy i com 3:48 12% | 1038 High . 13 100 997 sse| Vas unusual and irregular, and in| x 4 Lockheed Air. 26 233 263% — 3 ind Jaro Ble P% sasavaiiss 71 [1938 Low M5 439 813 10.7 | violation of various rules and regu- | 20 McW ‘i ; 3 03 = 1} 1d b Seasiiiis ‘ 4% Tigh y : * ati i » {oh} 000; active to all, fully ne ie T.2 Indpls Pts PrdTd seieiiies 10872: liner mien ..... 95.0 101.2 1060 100; lations of the association. 2350 | $7.10427.05: 23 fice g Ni: 632 634 .i.. |Indpis Gas Co i... ciiiieiiis 2) a. [N68 HW o.oo BO. 69.3 93: ; p « ( g P+ 12607400 Mi largely Pac 3234 32% — '3!Indpls BERL 6% pfd..........000 303 |Copyright. 1039. Standard Stati 3 « cll| It was further stated that this| 6 sows, $5.50 bi 2 Su Ib Idpls TRL Bla fd on 108 ‘ + Soandard Statisties Co.) [interpretation does not affect the | ( An itt 96's 968 ife Ins Co com 27! — ‘ai p ( : 268 06; teq | Sh 91 ala + 112 N Ind Pub Serv 5'20; pfd. 82a FH U. 8. GOVERNMENT BONDS purchase and sale of grain for fugrecr fr FNL ote; 2 2°... |N Ind Bub Serv 6c pid 3: 0 SS rN B ture delivery consummated in ac-| 8! ) lioht steer n < < cash iy 1 sisi 8 9 $1 f aay 14 in iii |Erosress Laundry Cocom ll 11 $ 337° reRSYIY Bonds Low fae COrdance with the rules and regula. | ; at — rv 7 7 : 4 LAS ¢ f closing | Pub Serv Go of Ind 75 "aid . 33% 30a | 3ks 18 1943-40 July ou. d0d 11 10411 jodi (tions relating to futures contracts; | oe 8 t9 25 80 Ind G&E 4-89 pid tric DE 97 [5ia8 LOL Lprecsseien 106.27 106.27 sales in store when payment | 5 . 0 Ind G&B 1-87 pid .. 0... 8 T3108 ode.dd 1117. 111.7 [DOr Cows weak} - ate “FOREIGN EXCHANGE | Enion. pe. Co, Fp Le 8 a5 24s, 1954.51 “ 108.14 108.14 | and delivery is made on the follows} $150 kind id elling up to]. NEW YORK, May 12 (U. P.).—Following| van amp Milk Co ......... 0 63 | 27.5 1080-55 10824 108.34 ing day.’ 88 92 week « ke” & itd lare ov o b & Van Camp Milk Co com. 10 - VO. 3 : 1 k 3c. mostly | Are opening cable rates on Sl3ior curren | 238 1859-56 . 107.14 107.14 train men said that the use of | low yractical stv | gies Cable Rat let CF : 07. . sa C Ds venh, Ne tht | § England (pound) 8 681 Do . ol Bonds The, Py5a-6D 15.19 teqy rarehouse receipts in the purchase | ch ve up to $10.50; light (60-day bill rate) 4.672 Federal Farm Mortzare Bonds war N : : of yd clearance week's | Canada (dollar) 905 4-.00 1-32| Amer Loan 5s 51 ..........s 08 100 or sale for deferred delivery enabled 2 tsi} (franc) 0263 {Amer Loan 5s 46 ... . ..... 97% 101s (38 1940-44 ........., 1098 10068 100.8 |. je commission charges b te Thursday | It! (lira) 03264 4.000015 | Citizens Ind Tel 4%5s 61 -....102 108 H 0 Lo Jems to save . .) be dv top clippers, | Belgium (belga) 000's |Grabbe Reynolds-Tayior 5s 42° 95 100 He Unites Joan Bends {in the regular channels of the fug te pady: early Germany (mark) 4.00002 | Home T&T Ft 55 .....103 105 High Low last! s § « $10.60; clipper. S (Franco peseta) Home T&T Ft W 67% 43......108 106 Argent 4145 48 .....00. 03 03 ag tures market. £9 3, \ heep offered: |S rland (franc) {3nd Asso Tel 3 65 105% 107% | Australia BS. B85 iiiiiis 98% 98!'5 98% es SE t Y 1bs, 811 lider) [Indi Redo ars 2 54 ‘ot a;i, 5b | Brasil Vi a’ sobs 21's NTS rong S ? f 2b ta 03 2 anada N . 03° 1033 : 2 OTHER LIVESTOCK |b i, CEE ge ae Blea dC ENGINEERING GRA an enmark (kro NI vie 8 ne 107 107 10] wh . ; d ven) Kokomo Water Wks 57% 58... 104 107 P vil i ‘ . WAYNE. May 12 (\ ) Tahiogs— | RR Kuhner Packing Co 415% 50.. 98 101 aan 5) 25 85 52 8314 83% + DOWN 28 PER CENT 160-180 i a) hi Stores 57; 50 ... 90's 102% | Alleg Corp 3s 80 . 2 27 | is Cl Stocks [ErETESRE Sf Wt EFCRE ES C8 Be He \ . ¥ th Stl 3748 66 (...s 5! 5 fh | Chicago Stocks Rishi: 252g. BERGE EIR BL an one, do 2, Ry 1¢ 36 4 10 Pol a emia Baw po Et Vk Akh ht FE ERTL ECHR a | Com Crdt 3'as 51 ... 3 104%; | Engineering co A, A oi High Low ast Buble Tel “0 o% B55 .. 97 p 8 3% | ‘ $ LAF : M 1 {Armour & C0 iii ji 3 I | Richmond W ater Wks 57, 40 103% 103 Gons Bais is i 103s; | for the week ended today dipped 28| ket 10 Belden Mfg ......, ‘ % 1% lo Seymour Water Wks 5% 49...100 = 103 |Rlec-Auto I, 4s 52 108 |per cent below the preceding week . i 05 Bendix 22 22 22 |T Haute Water Wks 57% ..100%2 102 |QGoodrich 4'is 56 1013 | 2 BS. J h Berehofl . 0% 8% 9% |T Haute Water Wks 6%, 40 . 102 © 105 [Int T & T 415s 52 go" (and 24 per cent under the correes. $8.50¢19: lambs. $8. 530% ¢ : | Bruce E 10 10. 10 |Traet Term Corp 662 691% | Kresge 3'28 4 ‘es 102 |sponding 1938 volume, but total for a | But B 19 1938 19% | Market (By M. P. Crist & Co.) Loews Inc 3's 46 .... 101% | th to date held 225 per cent ) ; 313 a : ay EB 4 424 4% | Marke 8t Investment Corp... 30 65 20.86 NYCent ref 5s 2013.... : 531 | the year to . DAILY PRICE INDEX 6 3 694 | Wabash 4128 78 ..... 6% [over last year, according to the NEW YORK, May 12 (U. P).~ 21 2i ¢ F oD PRI B weekly report of Engineering News= Dun & Bradstreet’s daily weighted « i: ail 5 " ecord. price index of 30 basic commodities. 3s Bal) INCORPORATIONS 0 C S The authority reported the latest ARAL . s Froitad Pu : 11 2 rich CHICAGO, Ma (U. P.).—Apples 2,390, omscompiled for the United Press (1930- Mo 8% a Michigan SPs, AAR 5} 4001 60 Him week's Nard a aD wo, com 32 average equals 100): Util cu tof 35'2 3532 Potatoes—Tennessee, bushel hampers Mem pared with § n € pre- ¥ sterday " Kingsbury Br ... la 15 | Mida Realty Co. Ft. Wayne: dissolution |$1.05. Carrots—California, crate 2.35@ | ceding week and $69,020,000 a year | esterday .....uuu viesnesses 10754 Mid West Corp . 67s 674 Jefferson Plaza Corp. 318 W Jefferson 2,66. Spinach Missouri, bushel, 75 80c. The 1 ed witl Neok AE0 1001, 105 a2 SHR JY OF his ad (Bie SRE TR TAI onl (Ban Jomatont Slntin ues, AY Cat: | Yio wis the first in nine weeks rn hr no jatar NIE cen 2 22 | . Ross, st St outh Bend; |flowsr—California, crates, $1 Ba 1.75, «ly rst in ne w HL th AGO (iioiieis theses is 103 34] Woodall Ind 36 3c capital stock, B00 shares of $100 Par err—Plorida, crates, $1752 5 bean year ago ye ih 1 ne | Year Ago 107 0p | Zenith Radio ........ + 16% 16% valine: to purchase premises at 318-320 W. |California, ‘hampers, $1.1561.60. Onion and reflec e large aware 1939 High (Max i) 3siakbense 107 54| ———— PT ron wis. dun, Bend, 14: Donald Marke Sl honnd gatks) ans Yellow | aqueduct water supply tunnel-con-93¢ § May se os s4 107.3 ¥ ‘ illiam oor, Evelyn ermudas, i tlarge size, $1.50; Texas 1030 Low (April 13).....000... 10317 U. S. STATEMENT H, C. Scheilmeier Co. Indianapolis; reg- | White Wax, 85c@8 13 (large, $1.40); Texas tracts awarded in the 1038 period. Breen istration of slogan, “We weld everything |SWeet Spanish, $1.20@150; Texas White | WASHINGTON. Mav 12 (U. P.).—Goyv-|but a broken heart’ Class 14: Metals | Boilers, 85e. Current. ARC ve and receipts or | Og ares ye ns, en C year through ay com- ary amily Theatre Cor Gary: ¥ . Skt pared with @ ago mendment changing t > L A See Final Edition Expen This x RL 101 46 Last or. | 10 000 shares of $5 par w et "stock to 0C L PRODUCE 1568 1.362,051.2 8 32.77 'y \ HA oa nam <p AR "RAs on Schaab Buildings © I : -| Heavy breed hens, 13¢: heavy b of the Times Got up HERNAN SILER wlll: Pulner Gum. Abang alge ahd aver ioc hens dae IL} 3 2.978 192.624. 45 1.117.090 : . : Net Def | 2941 166.724.45 1.038.761.213.34 Sptingdale Memorial Chapel Associa- and White ole—horn hous, APR Barred f Fra Bal, 3.077.733 775 50 2.742.382.684.26 tion, Ine, Madison; dissolution. over, 16c; colored Springers, 2%; oy afd of Eb, DEBE (01s 4d of AR EEE avin of aio BIL Somat | MR, 103 foe Meo Fame and of Savi Closing Stock Quotations || Bouts 5 BE EL Bet Ea A er aTaorPein or, |’ (gta fin 3 Ibs. and Sve, He! avings received £ Yi re osing oc Quo ations sh M318 ARTA { poration; amendment of articles of in- 191%e 1 strl ty fresh aahtry igh, 86" : dO : corporation, 3 aki tach SSE oi hl earn interest an ther Late News INDIANAPOLIS CLEARING HOUSE ase

DG

Sa SRRRRRLLRRRRLRRRRRRRL SLY ALRRRRR LLIB LIRR RRRRINS

:

w York al Wareh RR

‘before May 16 from May 1 o

88 |... Charles Boyer in “Lost Horizon” at 7 p. m., NBC-Blue. Mischa Auer, Billie Burke, Jack Oakie and

Roger Pryor on a “scene-stealers”

The horse race is between Johnstown and a few other four-legged animals whose jockeys are just going along for the ride. It's the Screen Guild show at 5:30 p. m, Preakness with Mr, Johnstown and CBS-WFBM. ” # s #” # ”

THIS EVENING

(The Indianapolis Times Is not responsible for inaccuracies in program fale nouncements caused by station changes after press time.)

INDIANAPOLIS INDIANAPOLIS CHICAGO CINCINNATI] WFBM 1230 WIRE 1100 WLS- WINK 780 WLW 700 (CBS Net. ) (NBC-MBS) (NBC Net, (NBC-MBS) 00 ntle orum Tnannounced Don Winslow Kitty Keene jo atler Hine Herth Trio Malcolm Claire Dorothy Rochelle 4:30 Tea Time Home Edition Serenade Rhythmaires 1:15 1" " George Duffy Sports Lowell Thomas 5:00 Ho-Po-Ne Club Lone Ranger Radio Fanfare Baker & Denton , 515 Garden Tour Escorts & Betty Spotlight 0:30 Youth Quiz, Buck Rogers ABC of NBC Front Page 5:45 News Air Newspaper Rollini’s Or. Inside Sports “6:00 First Nighter Concert News Guess Where? 6:15 " ’ " ”" Sports s i Hh " od ome Town olds 6: i FHA Yiotram " " " " Mooney's Or. 7:00 Orsen Wells Walta Time Plantation Party Plantation Party P15 " " fh " " 4, 3.30 w. » Death Valley Rjsher's or. Death Valley 9:45 ” ” ”» ” ”" " “8:00 Granda Ce mbardo's © rize Fights Himber's OF, §:00 Grand Central Lombardo’s Or. Prize g Jamboree R30 Belie ® It or Not Varieties Varieties varieties 5 y Ji mmie Fidler ” ’ Jimmie | Fidler - — mich A PPR r 6:00 Amos & Andy Me. D. A. News My 9:15 Lum & Abner Baseball Herbeck’s Or, Sousa's Or, 9:30 Burns & Allen Hines’ Or. Via) house 0:45 ” ”" ” "” ”" ”n a a " " arron’s O ar Grant 10:00 News 4 Barron's Or, Petsr { 10:15 S, Kave's Or. y " : . §. Kay's Or, 10: 30 H. James’ Or. News Brigode's Or. Duchin’s Or. 0:45 H Shaw's Or. : . : 1:00 Pliner & Eve Recordings Mariso's Or. Lyman's Or. 150 Sterling. Young . Krupa’s Or. Moon River 1:45 ! H Dance Or.

SATURDAY PROGRAMS

N NDIANAPOLI INDIANAPOLIS CINCINNATI hat 1 ] WIRE, 1100 5 WIBC 1050 WLW Too. (CBS Net.) (NBC-MBS) (NBC- -M 8) “6: rly Devotions Prayer & Praise Don & Helen 3:45 Early Bij Tunes & Tips Melodies Yea 1 " " Breakfast Jam Jim Robertson 3:00 wo» »o» en Peter Grant 7:30 ” ” ” ” " ”" Farm 7:45 " ow News "on wo “8:00 Hillbillies Ranch Bovs fom ee Cups dol (15 o " manda Snow 4h Serenade Barry McKinley Fashion Jorn ts Air Synagogue 8:15 ” " Quartet Devotional Quartet 000 innat “Cot . Musie Reflections Mail Ba Wd Cinfianslt Lows y " Charm House K 0:30 " " Hymn Singer Homefolks Army Band 0:45 " " Bulletins Workshop 10:00 Serenade Church News Kay Bartlett My Hea h 10:15 i" 1 Detwa, Byrd th Kidd} Parade Joccher's or. ):30 Children’s Hour Call To You dies | ’ 0. h:45 Bn ” Leon Zuchertough : Farm Hour 11:00 " " ooking In » n " My 15 ” " arm Hour HR ratwm Circle i School for Brides Margaret Speaks 11:45 " " id ” oy Greets Girl Tre Pe ney's OF. In Indiana B. P. W. Club 13:1 Tolye Yost. Kiupey's, Buccernos Kinney's Or. 3.8 {i Corn Huskers ews 13:13 Farm Buresy Majinee,, Tommy Sutton Matinee ; 1:00 Mugie Fest. WIRE Reputey Jamboree Melodies it N : Pw . 1:30 ¥ " Headlines ” Believe in Indiana KSTP Presents 1:45 Instrumentalists Wavne U, Band = : 2:00 n n Club Matinee Varieties Brigette's Or. 2:15 Charles Paul rn i H » ’ 2:30 DePauw » " ” ” Western Stars 2:45 ”"n "” ” ” ” ”» ”n ”» “3:00 Dancepators Mass. Inst, Choir Musie Three Cheers 3:15 » 7 Dance Or William Apell Youth & Govt 3:30 Greene Bros.’ Or, " » Old Refrains " ’ 3:45 Flanner House " ” Jennie Sheffer ’” " 4:00 "Scholarship Home Edition Ranch Boys Kindergarten 4:15 h Preakness George Torrance n n 4:30 x wen Band Box Gordon's Or, 4:45 id " Barron's Or. Aloha Land Gene Erwin

KEY NETWORK STATIONS (Subject to change) : NBC-BLUE-WIJZ, 760; WOWO, 1166; WLS-WENR, 870; KWK, 1350. NBC-RED-—WEAF, 660; WTAM, 1070; WWJ, 920; WMAQ, 670, CBS—WABC, 860; WIR, 750; WHAS, 820; KMOX, 1090; WBBM, 770. MUTUAL-—WOR, 710; WHK, 1390; WHKC, 640; CKLW, 1030; WSM, 850,

CROSSWORD PUZZLE

HORIZONTAL Answer to Previous Puzzle 10 File. I Important | IA 11 Malarial cereal grass. ! RAL SIR a 808 fever, 8 It grows on I 5 Isaa¢ [AV] 3 12 Governmen$ sme low i AL Hl | official. tnd. =] NEWTON |] Bene | oR man. plone y S / | IAL] 23 Apartments, ; / I= AIVIEL 25 Tt fs valuable 14 Cetacean. LIDEDEYES] for its ——, 15 To consent, i 27 == is made 16 Contest for Hs UAICIO] from its straw a prize, E TROP] 29 Common 17 Acidity. LILSHTITIR viper. 18 Approaches, EM! [| TITIAN 30 Health resorts

19 Warms in

the sun, 20 Crazy 39 South 22 Public Carolina. storehouses, 40 Preposition, 23 Foot (abbr.). 42 Area measure 24 Egyptian 43 Part of eye deity 47 Accelerates, 26 Above 51 Mexican 28 Slightest dollar. 31 Mister. 52 Winged.

32 Room recess.

33 Rosaceous 56 A loop. shrub. 57 Tree 34 Mulberry 58 Great lake. barks. S91It is very

36 Musical note.

rich in «ee

31 Intersected. 37 Frozen water. 60 It is the staple 32 Black bird.

food in — 35To stress.

countries. 38 Herb, yielding senng VERTICAL ,; 7 instruet. 1 Long inlet. 44 Bones. 2 To goad. 45 To bellow, 3 Plant shoot. 46 Beer.

4 Spikes as of corn.

54 Flower holder 5 Heavenly

47 Asterisk. 48 Imaginary

being. food. 49 Level. . 6 S-molding. 50 To send forth

7 God of war. 8 Withered. 9 Trial.

51 Dance step. 53 Trouble. 55 Moray.

rr FFT FP oT 5 lo [7 9 0 | 2 4 6