Indianapolis Times, Indianapolis, Marion County, 24 June 1939 — Page 11

SATURDAY, TONE a

FHA LOOKS TO STH BIRTHDAY NEXT TUESDAY

2V/,-Billion Business on Its Books: 'ncome Near Total Expenses.

Times Special

WASHINGTON, June 24—The ;

FHA will observe its fifth birthday Tuesday with more than $2.500.000,000 home financing insurance on its books. This includes insurance covering small home mortgages, large | scale rental projects and property

1080

FINAL NEW YORK STOCKS

NEW YORK, June 24 (U. P).— Stocks moved irregularly during a

dull session today while Stock Bx-) on

change authorities considered action to close the Exchange on Satur-

days during July and August. Spur to such action was given late yesterday when the New York City | Clearing House Association banks | decided to close Saturdays under the newiy enacted Quinn Act mak- | ing such closings permissive. Gov-| ernors of the Exchange, it was be-| lieved, would be called into special session Monday to vote on the clos- |

ng. Stocks fluctuated narrowly. Minor recessions in utilities were balanced | by insignificant gains in railroad issues. Auto shares had minor gains, while steels and coppers held around |

y United Press 15 HOLT ACTIVE STOCKS Net High Low Close Change LaLa 12 11 12 +“ 3% Manhattan Ry . 18 126 18 LY Celanese Corp .. 23% 28 28 -— 14) CMT 6 3% 8 a Chryster ....... Tl Yoly Yor + 18 United Corp ... 2% 23% 2% Gen Eleetrie 84% 341% 843... U § Rubber .... 421% 42 2% — 1 Gen Motors .... 415% 414 Hu — 4 Colum Gas .... 83% 8's 83% 4 {Packard ...... $4 $s 81% + Am Rad & SS . 123% 123¢ 1?%¢ .... Alaska Juneau... 38 kal TW — 3% | Texas Corp .... 88% 8813 88lf = 1} Penny J €C Co . 90 0 89 891% Stock sales “approximated 190,-

000 shares compared with 170,000 in the short session a week ago. Curb stock sales were 33.000, against the same total last Saturday.

DOW-JONES STOCK AVERAGES 80 INDUSTRIALS

Today Yesterday Week Ago

Month Age .....

Year Ago

CARR

Saas

fea

seve

Sat tLRRRR Re

Peas

18%.68 «18.42 185.31 136.80 131.04

High, 1939, 154.83: Low, 121.44,

High, 1988, 158.41; Low, 20 RAILROADS

EEE EE EEE LE

Today

Yesterday ........

Week Aro

Month Ago ....ioven CeivOie

Year Ago

Peas

EERE EEE

27.16 2% 27.23

High, 1939, 81.383: Lew, 28.14. High, 1038, 33.08; Low, 19.00.

15 UTILITIES

TORBAY ....covivvisiininiiin Yesterday .(.iiiiiiiininianns Week AZO ....oiviiiiiiiiin Month Ago ...... Seite Year ARO .. ... i viii,

24.03 24.10 23.40 23.65 20.58

High, 1939. 28.52: Low, 20.71. High, 1038, 23.19; Low, 15.14,

98.93.

«0.06

«0. +0. +0.

54 64 hi

+ 2.88

+0.

+0. +0. 4.0. +0.

-0

+0.

+0. <0.

+0.

01 19 AN 10 39

10 03 1 8

Net Low Close Change 3

improvement loans. i previous closing levels. Aviations| Net High FHA income, derived from mort-| were mixed. J. C. Penney, First High Low Close Change 0 =u gage insurance premiums and ap- National Stores, Anchor Hocking er it i —Ke praisal fees, now approximately Glass and Loft made new highs for R30} © 38 3h ih = 4 Kayser Jul .... MQ 14% equals total operating expenses. the year. aspiration fo 10% 10% ph - —M— During the next fiscal year it is esti-| Business news was mixed with a fiche ]% M 3 Ae Yi + Benner Th Re BN . ® mated that income will increase suf- | majority of items on the construc- |futerchem bf 108% 1884 144 | Eimbeny go § 6 ficient t 1 {Int Bus 181g 18)'e : + 8! Rinnev § of 18 1 ciently to pay all operating ex- tive side. The Board of Governors mt HE her gis 8 Sus Can s Int Hvd El A v 4 . | Kresge S_.... U% 24% penses and leave a substantial bal- of the Federal Reserve System re- Nie ol Jase 4 \" qh = Kroger G&B ... 28% 28% ance to be added to reserve funds ported an increase in industriat pro- iB Ee is ly nL d wi now available in the Treasury to| duction during the first three weeks fi R © het i a i B f.Den pgm 2g MN i possible mortgage insurance of June. The Labor Department in nt S { Shes fe sh fs I \/venmen ll Bh Ah osses. reported May residential building up : 2 pLoene) ge i Lib MeN & L 0 8 é Eight Million Aided 38 per cent as compared with April. b OS pe WL 1a, It was pointed out that loans in-| Department store sales were 6 per Edge i... lH sured have been supplied by more cent over the corresponding period eno8 fie ie iH than 10,000 banks and other lending of last year, aey RE oo. 33° 32% institutions in all parts of the, On the adverse side were contin- » CT ais odie United States. They have enabled ued tension in the Far East and Man Ry md gtd 1 13 12'a over eight million people to improve fears that the Securities and Ex- Man Shirt .... 12% 12% | {Marine Mid ... 43% 434 their housing conditions. {change Commission is preparing I} arshal 1Md .. 13a 1 ars number 3 people thus bene- further market regulation. | arr Tot RY ii $s approximately equal to the] en 20% 99% SE Jpprotimately sual 1 the por .. Off Vato Vy Cent & Cent at Closing; weciif én fh 1 Colorado, Wyoming, Nevada, Ari-| : | MeCrory 14% ® High Low Close Change MeGraw Hill .. T's Ts zona, Idaho, Montana, New Mexico, | Air Redue . 51% Sie Sits Speculation Based on McLntvre Pore . 58 ~~ 88 Utah, Oregon, Maine, Vermont, New | | Masks Jun Bt ai fo - un Fears of Rust Neletian of ot 5 Sn Hampshire, North Dakota, South Al Pa "ot ete" $5. VR . Mesta Mae - 33. 3B. Dakota and Delaware. Allieq Als: EH BE a hes bt 1134 113% { “er 3 cai 9 & “ Jor the first time in nearly a dec fit, Gal: fit flit Mi T li] CHICAGO, June M (U. ATER io IE EE TH 2 sutticient new housing is - | Amal) Leath I te % .... |Scattered selling in sympathy with 3 ont Ward . 13] 3 ng provided to meet the increase Amefads ...... §1 R's §2 — IN corn turned wheat prices downward | Motor Prod 93% 19% in the population and to offset the am can ...... 9 8 98 = (in late trading on the Chicago Motor Whi His 11 destruction of old houses, the FHA Ala Can pf .... 1H 1X 144 + lo goard of Trade today, aft Mueller Br 8B BN Airlines .. 293% 293%4 203, — 0a 0 raqe ay, after prices — Naz claimed. This is due in large part! Am Crys § 8 pt 78 5 * + 1h y , ; 3 i 4 had shown early strength. Nash Kelv 8 82 the Administration said, to the Am & FP slept 16 18 18 ... y ¢ % IN AC : 3 stimulus furnished by the amended | Am FB §7 of. 19% 19 19% + y| At the close, wheat was off !s Nat Acme ..... 1's ills by the amen Am mE SL Ch 3% 3% to 1 cent, July 69%, corn was off Rit Bait iia Hi FHA program providing the most of . % Nu. =! \ 3 | : 2 a Inter -....¢ §% % % + 3/1 cent to 14 cents, July 473, and Nat Dairy pt B 113 113 favorable home financing terms in Am Loco ..... 18 15%} —_ 1} 3 5¢ ept St. 8 64 the history of the country. AEE cB OHM Of IT iijoats were % to % cent lower, July nat pew Stat Aa 81 WEES BB j Ss A, Mortgages Soar Am Rell ih U13e 13s 13 —yy| Farly buying in wheat was partly INat BVT & Lt. 8a 8 During the first five months of R SMe, ..-. 42: Ria 4's — ls/credited to mills, and there was Nat quo Penn . Tia Ti 1939, mortgages on homes to be Am Stove Co | 11% il ili — :| Some speculative demand based on [Newport tnd tia aif constructed show an increase of 80 i AR %: 4 Ss “ 1%: He 1%: = all fears of rust developments in the NY ght 1h In per cent over the cor responding a Type Po. 5Y 5p Sig — 3 | spring wheat area. Hedge selling | NIE StL, ot 22 22 period of 1938. This is resulting in 3% gater Wo. 8a 81a 9a. was fairly light. Trading in the KXC Omnibus $853 OH construction of more than 500 new Anaconda X Gi Nn 3 3, : {local wheat pit was slow and evenly | | NY NR & H pt 03, 9%4 3108 nechor oe 2% 4 + 3 No Y Shi . wo! 10 single family homes under FHA in-| Anchor B Gl pt {IS iio fier: — 8 balanced, AROT ors 34 22 spection each working day. At the Armr Del pt oy of If .. Corn dipped to previous seasonal hn Amer pf... 89 ~~ 8 same time, work is being started gimour [ll gh dn 0 [low layels under selling encouraged NO Am Avn... 13a 134 Armour Il pr pt 38 38 cL | ho \ |No Pacific . 84 81% each day on the repair or modern-! | Arnold Const .. I'd 10% 10% — by very favorable crop reports. Buy- | oy jzation of more than 1300 existing! Ate hey Gas. 8% 84 84 — 1 Ing Interest was light, and commis- gnio on .. 7 1 homes under the Property Improve- Atchison ....... 273, 927% 921% — a Sion house selling caused a decline | Dicer iam Eq 0s Bie ment Program. |Aiinaron bt ..- M2 NM: MN: —Liof more than a cent. Oats Jost ots RN of 191 1304 On June 20 FHA records showed Atlas Corp 10. 3% 7% _ 3% ... |8round fractionally. Quthoard ‘Mar iM tu that loans numbering 2401215 for Joos PRL 1§ ug ug Ovens It Glass 87s 8173 $2505.000000 hed been | « Aviation Nr le 3, CHICAGO G , ha n ns viation Corp .. 4 : 3 divided as follows: od viation rts N18 38 i ie C i RAIN Pacific £8 Ci i = RANG Peaific Mills .. 11 11 S : B ; Hoa mall home mortgages number- | Bald Lote 6 .. 1% M% H% + 4) Gosh High Lov Giose Dove PISS Loewe ti nt 376,000 fot $1.580.000.000. Balt & Ohio {ik ie de ge Ft ‘| WHEL. se ose Batam Alp jue a ropetty mprovement loans § +. 88 ¢ : fv is 80% 43% : arnsdall ...... 13% 13% 133 — 1} uly 14 08 954 ay Dav! 204 numbering 2,025,000 for $827,000000. Bavuk Cig A% AN AN + 4 Sect. “Bi Sha SR CR Ra Baker A Pritie 11: Large scale rental vrojects num- Biothk Pre 23's 52 32 Bet 3% MMe M% Td T's pating Mines .. 8s X75 bering 215 for $38.000.000 endix Avn $3 23% 23% + ig) LOM (Ben & Ford... 33x 314 : : yO a" AY, 1 s . 2 Pennev “ gol, These figures include a small Bot §c Don 0% Je Ne + 3p igUY iy I ne Lean BD Gem EQ a number of catastrophe and farm Beth Sis + 28 S3% 6% — a Det 80%, 50%s 48% de, son SoM R EPPA DY, loans {Beth Steel 7 bf 10776 101% 137s = la} Oats— | People D pt. 112° 112 . | Beth Steel 5 pt. 17% 17:4 13% + : i SP Mat BF a8 : They do not, however, include Bigelow San 21's 20% Hn Dosey fe fu Bh Rh EESeBed Un fn commitments to insure amounting Baw Knox or. et 8% oe Des. 31% 3% 30% 30% Jw BNL Morrie 9% 07 to more than $430.000,000. Boeing Air [lalla ain fiw = | Rye [Bais 80° .. at Int i ; orden ._..... 20% 20% Teo... July. 483 483% ila 44 45% (Pitt & W va 8 8: During its five years, the FHA Bower R B a Me a + talSept 8% RY en ae a7, | Blimonin oi. 18% 19% claims a widespread reformation of Jagent Shas . 19.8 10% 10% X la Dee 0 19% 48 A8 48% | Poor c¢ BY oa the country’s home financing Sys-| Briss! Me... 0. 1313 $81 18% .. 1) Sov Beans— |e eH. 3 oF tem, involving elimination of the BkvO-M sof BY Hs 2%... uy W% 45% aps iit 3.2) Sublie Serv 28 38 second mortgage racket, excessive BERL § Gay | 29% $9 Shy — 1B Dec | [18's 181 18%; .T8%ia 18's Pus oO Ne interest rates, concealed commis. | Bruns Balke . a HM NN + NB Lard— [Sie Bak 17 11 sions, costly renewel fees and other) Budd RL 2 9 © uC fr cS S30 BN SEM HS madi > wi discredited devices of the prede- Bulova W .... 3. 3. H. J cg 8 8 8 83 [Radio pt Nl Bila 8115 Breeton fal Burrowes Coad mmo anc 0 IRR RR GR 8M GF 8 [Ran pae RY OB 24 Million in Assets |Brers, A'M I 81 8k 10 31g] WAsked: BB. geo Mt dy dy | Byers t wil is He 4 x Republic Steel . 134 131% Net assets of FHA reserve funds| = : CASH Ae poo 14 4h > AS | wn ay fe 1 f now exceed $24,000,000. They were Callahan Zine. 1 1 to... | Wheat—No. 1 vellow hard, T8lie; No. 4 Rev nh Tob BU 8314 83 actumulated through an original G3] Packin 20. 1% 1% — is BNA. fac Lorn—-No_ 1g ved, S12 | Rickael8” on Te 1% £10000,000 allotment by Congrass Canada Dry .. 100% 135 10% = if Rag No 3 gee: Noo 1 White, Bhat | ote ar 4 ani through additions made from Spt Adm A... 2s 8 3a — 8 33155 aT No! a Bae ye: So “oe: | 13508 § of 100 0 130 tine to time from the collection of Cana 3 23a 0 HT + | sample, 397s 811 2¢. ve--No sales, Bar-/St Jos Lead 38 38 Slit 122 3 3 — a lev —Faed, 336 4:¢, nominal; malting, 50 gehen! ev Dis 1334 1% fnurance premiums and appraisal elotex 12% 12'4 12%... | @3%c, nominal 3rd ans—No sales, Cash |Seca:t Pap 51% 513 tes. ; |E8o R Biteo Ba she st Toi fF, ham EE, lle ninel,, loose. | ik THD 9600 2 2.4 dig A 33, nomina a 2.90, inal: el- SArsS- abnek | T 34 Charges against the funds at Seriwmcied © 0 ad HL TT ROEM RRA $50 nominal BR ginitek hy I) dne 1 in connection with sales of | Ches & Ohio = 327s 32%; 393; .. So &D ... 4 : Gt West Rv ; 3 Sods. jai Shattuek ‘ 9's aly quired properties amounted to oR Ss RB HTH LOCAL GRAIN Sheat Pen ha [Ch & Nw BB BER cAsH Simmon 23 3 I S Chi Pneu T = | > { See 2) 1) Under the property improvement Sager Too Hh 13, 3, T | wh sat--Steady. regeints. 1 cao oad: No. | gmms oi IT oh rogram, from which no income is city er C12 12 He = 15} 8412 @ES) 2 red, 8330 Sat: Slose-Bhef nf L103 © 103 drived, unrecovered claims paid at Citv IRF of "ah 83 03 1g Na I Nard 813% 62k No. 2 hard, 831s Snider Pig | 2014 ont Jne 1 amounted to $13.800,900, | Gina lol R'hu WMI Ey ate 25 carloads; No. 2 Baton Vey 1 H.: ntio of less than 2 per cent. After Cluett Pead $12 SI 31... JSluRe Le Neuen. 41128 [South Pp Tye 2 3 2 & yevow, 40%aéndllac; white! South Pac... 19a 1374 fly 1, under amendments recently Coate B-p Nis isn lity © oa Gora, 1 Ents aver Yelon: mixed (oth, a il] Rv pt 8° hn Bre By CE A anne Som Gar TU ME LT GERIATR i Be at nt, c remiumicom Inv Tr ... 50): 30'z 50'z — 3 y Bold date a 49 o NR rrcarters ot per vi Hom, Belvents a at | Bhs feel WAGON WHEAT | Soicer Wye Rt HB charged the lending institutions) comwith & So, 1: 3 3s thdians 115 113 \ } 3 “i olis grain elevators are vaving Spiegel Ine i113 1134 to help meet FHA losses and oper- fom & Sy of 383 odir Sis — 4 for No P23. it other grades on \hets Std Rrands ®% 8% ating expenses. | Cons Alzeratt 3 3 33 Lit gut tEPItSC Cash yy new No. 2 vellow, 47. S'd G & E pt = 8la 82 . | Cons _Edis TAO Bgsy 3a = ° Oats, 2%c. |S Sex ge n gn hn Cons Bison Pl oli: ull Nig =D LIVERPOOL WHEAT std Su ane Laan ae 4 Cons C pf _vte. 9 9! Siz = (Today's U.S. equivalents based on = "“% JORPORATIONS | Soot Bax 14 14 In 8 gokslr, Belen an C | Con : 4a XT iE sterling at $3.8763.) TeV. Gione & Web.. 11% 1114 Cont Can «39% 3 Ns + High Low _ Close close Studabakes 8%) 8% Ront fps: ooo: 36% 881 361s . Ju ¢ Giieec 88RT $83 6.38 $33 e 0 eid IN EE AN Maa BCE CR, CEDEENL : -_ 3 4 813 8 auth Ban (is 88 2 Banker Coffee Corp, 9135 Main St, Corn Prod 89% 83% 8% = 1 ene Qwift & Mo LL. 11% 11% Evansville; agent, Lewis A. arke! APE 8 $7 € + 9%, WINNIPE E Qty ‘ : same adress: 1000 Shares fo par Tau: Crane Co 23! 2 a 3p + h G WHEAT Prev aaa Rbuld Tn gh Eon PE nd 1 Rie eRe I By BR OZ Da CBRE CER = RTREr, I. mer A. ein ar si or 's 3 4% — 3 aad ats ' Kahn | Crown Zeller 97% 934 97s — 4 October «80 Lat 50% Ferytograch. . 4384 43% \ax re x ng Corp. Indianapolis: | Grove ze gelier nt 0. 8 ly 8 % et a Oecember €17% Aho #19 81a 2 Texas, Corn Prod , un Mn pe . et direct wi Guetiss- Wr : Ri a 1 . 1 x 1a I g Pi 6 28% 2g rphy. Parts Co ne n nano is, SS + 2974 RL 3 col x R : * ce t } Deere & Co .... 132 19:2 ) 3 | Thermo Sn 27% Riel RE pa YT BBR Tt dd oy | Corn and Wheat Region FEN Ah Tite tates Tile Corp ndianapolis; | S . - lg | Ale \ % dissolution, Lae &. W ... 4% 3 SR : Timk Av 1934 19% ‘Sena Manufacturing Co., Ime, Indian- | Diam x Motor . 37s k Sit ; Official Weather Timken RB +42 : apo.is; dissolution. Dist Seas 138 1% 18 <3] JEfusanerics Su Sac vis Flint, Erection n So. Michigan Dourias oor een Ail 1 wh —- iY ne 8% U. 8. Weather tauren al | | govn Cat ox 18th $e corporation; admitted to Indiana to enga ‘es % E+ : in Feection’ of structural steel 8A%¢ Du Pont “a 130% 13915 14934 : Precini- State of | Fei hae FP rt Toi 3 cothe Ft. Warne Junior Chamber of Du Pont ot ...120 A 12004 120% — 134 Stations High Low ration weather | 1Vin Coac ls ommerce, Ft. Wayne: no capital stock: | lf Notre Dame wn aa wha Eo hon NEE BIE, SEN mg sat dd nA RB § } Epumones oth ou I BY er John Rep: |ERst Kodak .. 188. 168. 168 12] Whieatnera taicds j3 3 0 Clear |Dnion cath oo Ih 0A mann, Oral Tos Edwin Koenemann. FERN LR H Rochester ...... 13 8 0 Giear Un Oll ral... 1p'a Jota he M club. Inc, 1458 N. Dels| Elec BoA CI 10% 10M © ag Marion Ll 88 38 0 Clear [Un Pacific g 98 as St. dianapolis: no capital ‘stocks | glee $4 4 t 3 aad 34 ES lam Ns City. : 2 : ; Brody th A ireratt Cp 2 : Raed social and educational: Harry Martinell}, | Elec St Bat v a 381s EN in | Eamirivee I Clear I Air Lines . 1114 11 Glenn B_Wood. Angelo Malistretis, t Pub 8... 10% 10% 10% .... |Vincennes ....’ 88 62 0 Clear |Un Carbon .. ST. 87.4 Toy Workers Ath etic Assn, Ine. 1012 Eau Bag ii a 1 1 is Paoli ‘ 8d 38 0 Clear |I'nited Corn. ga 2%% BER ST. Soin, BT CARTY BUS we dh ad Nene UR HOF SE BARRE Wb Charles Kish. ; lil "|e Raute ‘ a 6 0 Clear |Un Eng & Pdy 27'a 274 The Martin Rosenberger Wall Paper Co, ! Fair Morse 283, 283 28% 1 3 Evans & 88 0 PtCldy | United Fruit .. 793% 779% 0 cor ° > 1 la 8 — la , n n Wabash Tas grRGErT Reh I Be RI fra NE To NR wana tn wih ron Wa] of Thaukasi Riri, moa = FASE, st N Strs 0 0 Ly Fy), 8 \ US For Sec ... Th Tih 't kb Flintkote 2002 20'% Mle — 2 Chim 0 Stocks US Ind Ale _.. 13% 153% S wi ev pt 0: WEE + . US Pine & FP. a 4 ur oC S Freept Sul ..... § 02 20% (co U S Realty .... 2 2 go TL Hich Low. Close IT 8 Rubber 17% 42 et ‘ 8% Rit Corp. rt wii 4-18 3.18 318 U 8 Rub 1 pt. 110 10015 High Low Close Change Sar Robt wa 3% I IR ox lisa Lad me Sve 18 ifs iis 11S Smelt ..... 82th 8914 Alum Cn Am .. 1080 a Nn A + HE RAKING : g 3 Armour & Co 8 ne a $ en jee im Ha Ja 3 = Gen Bronze .. . “4 "4% 27 z Ja S Toh © . ‘a a Ath Super ...... 3% RR) $ 1-18) SER Gant fH s . 894 % un Stk Ya 2 2 Ark N Gas A Do 3M he Oo GIR EEME dle dh "2 72 un Stores A... 2 2 Ark N oh TL 8W TL ie/Gen Foods Hn ue i abil glad Univ Deal T8483 BAD BREE... O16 Gi ge... [gen NOS... Bl gob fit 2% 3% v= BAGENE 0 BE OROR famine fN fi dN HEI VEE ll r : ! T RGen Riv &U. Hu WN 2 iva P Buff NEP pf ... 211% 2% AW + 14 /Gen RU PE... 18N 18°% 18% 181s 131s Wa an Sagcont i 13st ie + 8 Gen StL C pt .. 13% 194 19 1 Ys 1 " Walker (H) aH 431 Cartier Coro... 138 15% M2: |Gen Tel PIED 362 3 12 12 [Walworth ll. 3% 8% Cent & SRT - J oi% 58 Liige|Gen Thire Ba. lid 1% lin 1 Warner bs 45 4% n flee .. Si Sits Ili/Gen T&R 0. 2%: 22% 2a ¢ Ww ted Cities Serv of .. i i FH * Simbel Bros ... 8% ois Ol 3 5 | Warner Br pt . 48 8. Bhan. dn au dy 2g Glee gol up Mn ONY NAEE SY pti ait Coopernid Stl. 138 1334 HN — 1%! Gocarich ot odd 83 §'e 8% Wayne Pump .. 26% 26% B Sie Ph 5 hn IL... '|Goodyear . 8, ny H 30 4% |W BOE 6 ot 10314 1095 Ford Mpta..: 88 iu 4 (0 (OfihamPuge . RG 8 10, 1201 Ba Blut nt JON 100% Glen Alden ... 8% #88 Grand Union 0 IN 12 Ie 14 14 3 ¥ a Pp 1181 1164 GtA&P 17a 108 LET + 6 QIAN $1: 31s 8d 17% 17% |W Pa P 1 of ..1211a 121% Humble Oil 62 82 TER | t . Wy Wi Ml id sii 18 15 i et Auto Sup . 20% 291% Imp O Can ... 14% 1% 14% — Wig h 4 in 3 o hag =... | hited fr Liaes 1 11 il Wert t Ma coc 21a an jmp Tob Gt'Br 80 8). 8M... |Gt Nor ofe ifs fist fie ow BoD Rete Pred oo. TH Mh West Unign 01. 1913 0 Jud Paine os a god ia |GtW Sug of. 18 140 140 cov | Walgreen iin ul ue 5 Westie 2 a Insir No Am. . 707s 70ls TOs 18 Geen BH L 4% 3 S4n green Co .......... 19% 19% 18% esting Fl _... 98% ® Locke Stl Chn.. 127 13 13% — (8 Grevhound Cp . 18'a 18% 18% ee ——————— est I: 108. 19% ckheed Air.. 283% 28M 3 2 L ‘Al 1 eston Bl In .. 1814 18Yy fa Ward A 168 15s 1 BE" Hall Print Fra i8i + J OCAL PRODUCE hae Feel cet i Hi : 1 we 2 TE at P& IL pt. . 88 3% b. S3- Hanna 7 t.. 101 i. 101 is 19 rs 18 Heavy breed hens, llc; Leghorn hens, | Whit Bt icc 878 8% 14 \ 8 p y Nehi PP 4 $113 8% 3% — 8M Harb.Walk ..... 20 20 — 13 8c; Barred and White Rock springers, 2k Rite SM pt... 2114 2) Nisg wr 8% 6% 8% + '%/Hat Corp ... Sh 8% 8% + 4 /lbs. ‘and over, 1c: colored springers ily £9: cid ie 1 jag H Pi pf.. 83 8 9 Sy |Hves Body ... Sit 31g 31 + 1a lbs, and up, 16¢; Leghorn b broilers, 3 be filvs © no KR 2% eG Eo, RR 3% — [8 Hecker Prod .. 1}Y 31% JJ = ls and over, ide. Sprig chickens, Wilson & Co .. 2% 3% c G iY of 0 3038 NU + 's| Halland Furn . 3 3 39 is bo d over, 13c: old roosters, 8c. Woolworth .... 4 0% Premier Gol 0 d o . a" * ¥n Hollang - p “ag 108% 108% vale 0. Each fl fresh We run 3°88 gs. a Wa : » » - - A © Sunrav Oil .... : 2 3. oii |Homtonm OH: (52 3 834... |gross: a het netion of 1 ellow Tr ..... 130 14% \ Sty \&! 3% 4 4 iB & Hop 0 i 3 3 Po Gas Cp ot bd: oh bid: + 1% See A HH $8: 8 ¥ 2y| each, ful ase un ep 53 3 5% Ri be ‘my he ung Sheet... 8850 88% Lali LS § — Ee Wilson Jones .. Po = " so oh 5 ...._ | 28%c: butterta We. nith Rad . 1. 1 t .“ 5 5 8% —- B Sp Motor “e % % 1% — 1%! 5s ws by Wadler Co.) 4 Seesaeiiey 2% fu

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"Hog so Sead vi

HOGS HOLD TO WEEK'S GAINS IN DULL TRADE

Limit at $7.10 for 210-220 Pounds.

Hog prices held steady here to-| day in the usual listless Saturday market and the top for 210 to 220. pound offerings stayed at $7.10. The Agricultural Economics Bureau estimated receipts would total 1500. Consistent upturns previously this week leaves values 35¢ to 40c above the close last week, packing sows sharing the advance. Nothing was reported above the top price in some sales of choice hogs above the schedule. Trading was active on receipts totaling 1670 head, mostly on shipper account. Packing sows were scarce, selling within a spread of mostly $5.15 to $6.15. Trading was on a nominal basis in other divisions of the yard as receipts were not representative. Fat steer prices ruled steady to lower this week, with yearlings and light steers again selling to best advantage and at no loss. Heifers ad[vanced 15¢ to 25c¢ for the period, 1,| grassy plain kinds steady to lower. |All grades cows arrived in limited ‘humbers and sold at strong figures. Choice 1099-pound long gearing ‘steers topped carlot sales in that section at $10.50, week's bulk steer Several cars of | lightweight fed heifers and mixed ¢ yearlings reached $9.50. Vealers are currently strong with a week ago, top Friday $9.50. Sheep and lamb trading was on a nominally steady basis for lack of supplies. Compared with the close last week, late quotations on spring | t lambs show no change. Week's bulk good and choice offerings cleared from $9.75 to $10.25, top $10.25. Lower grades sold downward to a practical bottom of $7.50. Slaughter eyes at $2 to $3 also were unchanged.

Repte June Top Repts.

31 ... 9¢ 6074! ¢ 6.85 584

June Top 16 .. § 6.50 3} o. 68 119

5 “-

o> -io

4 &3 ~tgernt

Usual Light Saturday Puts al

3 between board meetings. 3 | executive committee members are:

Barrows and Gilts Packing Sows

Gaod and

5.305.00- b.75

4.75 { Slaughter Pixs 0/Good and Choice— Sp 100- 140 § 6.15- 6.50 - 6.83 Medium . 5.65- 6.25 (Receipts “Buk. Bulls Il a op 8 b'f § 6.156.00-

| 350- 425 - 7.00] 453- 550

PRTRYeY

Diag An©Sowis

PA Ratan Solo FT FAPB_ amas ozQ =%a Sas Eo S32 = 3 3

-3

4.50 8.50 | 7.50

o Qo 2

1100-1300 1300-1500 . LL | 750-1100 1100- 1300 Common Plain — 750-1100 7.00.

Heifers Choicea 150. 900 § 8.75 RETR 900 8.00-

Mediu 8.00Common-— $30- 800 7.00- 8.00, 500- 1050 _ 7.50-

Jo ws Heifers ..$ 7.00- 7 18nd ana Cholce— 8.30. 001% 00- 750 § 17.75- 8.50 Common 6.00- 6.50| 0 i oe 7.18 ow cutter ! tum. . 6.00- 7. & cutter 4.25. 8.08 ne

SHEEP AND LAMBS (Receipts —) Spring Lambs

Good and choice Medium and good Common and olain

Ewes (on shorn basis)

Good snd choice Comm

CHICAGO LIVESTOCK

Hogs—Receipts, 100; no early action: undertone steady: for the week hogs advanced 257 50¢, placing values highest in a month: hoes top»ed at -325-1b butchers, $6 25@ 6.50: $6.75 7.10; light and medium packing sows, [email protected]: heavy sows, [email protected]. Cattle—Receivts, 1000 ma:rket nominal; for the week all grades fed vearlings and light steers firm: medium weights and heavies steady to 25 cents lower: closing trade verv active on good to choice light cattle: fed heifers stendv to weak: cows | Sone to 25 cents higher: bulls, 15@25¢c hizher: vealers, 50 cents up: strictly fed stear and vearling run: shipper demand broader; dressed heef markets healthier: | ton light steers, £5 fed

heavy sausage bulls reached $7.80;

| vealers, $ | Sheep-—Receipts, none: for the week spring lambs strong to 25¢ higher: old {eon clipped lambs steady to weak at £7.756¢18.60 mostly: sheep firm native | slauchter ewes, $a3 ak “Soring jamb top.

($10.60: bulk $9. [email protected]

! OTHER LIVESTOCK

FT. WAYNE, Ind. June 24 (U.P. 200-220 7. 180- 300 $6 20. 220-240 1bs., 5.80: 260- 1bs

160-180 Ibs. Soh 280 bs. $8 280 s.. $6.60; 300-32 Ihe.

280-300 lbs. 5 325-350 Ibs. $6.40; 140- 180 1bs.. $6.50; $6.40. Roughs, % 28; stags, $0.50. Lambs, $0.2 LAFAYETTE. Ind, 24 » Hogs EE J vi

BPD DOBE OOo MH BOP Inncs = X aad

~-ID PO

(Receipts pi

Feeder and oo Seer Cattle

® »® wooo

< SS.

Chot po) AA 9.50/g a

8 508.50-

Good | Medtum ‘ Common

PARLE. Tharsis

@9 choice

Ibs, $850. | $6.70: | 86 50: 100-140 lbs | $4. Calves,

June Bo Ba 260 lbs : 6. 325 'bs. | 88.506 6. Oe vigs, 368 25 down: roughs, $5. 25 down. dot Caives— $8.30@9: spring lambs, $

—— 1 3 LOCAL ISSUES The following yuotations by the Indianapolis Dod & Share Corp. do not represent actu or offerings but merely indieste the approximate market leve based on buving and selling Quotations 0 recent transactions Stocks Bid

Auto Invest Co De wo Ve ‘Belt RR & Stock Yds com... Blla sBelt RR & Stock Yds pfd ... 52% Cent Ind Pow 1% pfd ii § { T iA Wayne %.... § | Hovks Drun TE *Ind Hydro Rie i td ves *Ind & Mich 7% : ini 18 Water vid coo ndols Gas ‘ om dpls PRL. %~, pid Indbs P&L 8 i." Lincoln Nat Life ty Co Som X Ind Pub Serv 5! f N Ind Pub Serv 67% N Ind Pub Sery 7% Progress Laundry Pub Serv Co of Ind 6

| Home T& {

CO C3 AI DTD Ure QO

wee

WADI gy — += 8305 a. SS

IN OBI OD yg ree DS

— Crt OD pt I ps 3 i BY

ETE TY

Bonds American Loan 5s 51 Amer Loan Eonepa® dng © Tel fi 5s Le rabbe Reyno o &T Ft W 5 he A w 8 43...

Son Rai + hy ne 5% or . Ves Indvls Water 3!'2c, 66 .. ; Inter Tel & Tel 5% BS (iia Kokomo Water 5% § 35 Runner Packing Co sa $90 Mo ris 3&10 Stor es is ® Nasl Bik Hosiery Mil 8 5 Red Nobiesyille Jisf 6%

‘49. 49%

= ~SPII-I -

| tla — I. yo. Ld

5sgaistens

hn - oe

ist & Co.) Market st. AMAA Corp . 51. 33 21.58

U. S. STATEMENT

WASHINGTON, June 248 (U. P,),—Government expenses and Fegeints for the current fiscal year through June 22; compared with a year ago:

E 9 030. ea xpensges Reveints .. +. 5,602, 9 74 Gross Def. . 3358.3 ‘ 30. 8

Net 8 3 4

5 0

ed Year

3, “ 2, 34 40 586. 16. 67 ml

I 2. 8. 504. 54. 2. 0. 0.4 9.

— nos @ Yo C3 Cad bt I SESW IOI ie DBI

CI DUIS D WI

72. 79.872, 04,349, 73.432, 80.573, Customs 12,085, INDIANAPOLIS CLEARING HOUSE Today Gisatings % ehits ....... For ‘ihe Weed! 5 arin ngs «.. BIE 8

its LERNER Eaaieiititiey

R01 .000 322,000

395,000

275- 350 $ 6.00- € 25 Board,

| Anybody Want Any Snow Today?

They've.got Old Man North Pole mounted on wheels these days, for

greater mobility. He makes snow

first of its kind in Indianapolis, this truck is operated by the Polar Ice & Fuel Co. and it throws a stream of snow over the tops of crates of perishables after they are packed in box cars for shipment.

{

Times Photo.

any place, any temperature. The

WEEK'S HIGHLIGHTS

By United Press Week ended June 10 retail adver-

Advertising—Advertising Age: tising in newspapers of 80 major previous week and 18920,036 year vs. 435,020918 year ago up 0.8 per

Automobiles—Ward’'s Automotive Reports:

units, best since April 29, vs. 78305

GHIGAGO BOARD ELECTS GROUPS

Renshaw and Wood Head Executive Committee; Others Are Named.

Times Special CHICAGO, June 24-—Organiza-tion of the board of governors of the Chicago Stock Exchange for the coming year is as complete today with the election of chairmen and vice chairmen of the six standing committees. Charles C. Renshaw was named chairman and R. Arthur Wood, vice chairman of the executive committee which practically has all the powers of the board of governors Other

John J. Bryant Jr., Ralph W. Davis | and Michael J. O'Brien: Chairman Arthur M. Betts, board | chairman, and Kenneth L. Smith, 5 president. The latter two are ex- | 3 officio members of all standing committees except the judiciary.

Other committees are: N Admissions—Robert J. Fischer, ohairman; Warren A, Lam vice chairman;

son, [Richard W. Phillios, mn Clifford Rodman and Hugh H. Wilson Finance— Paul B ' Skinner, chairman: Laurence H, Armour, vice chairman; Emmet G. Bazaer, Ralph Chapman and M. Ralnh Clea Judiointy— Alfred E. Turner, Thaddeus R. enson, vice James A. CRtiean JBaward P.

Floor Mg — Frank BE. MecDonal, chairman: Harrv M. Pavne vice chairman: Lyman Barr, Morton D. Cahn, Robert F.

chairman; chairman; Molloy and

| Winthrop H. Smit

Qchenck Jr.,, John C. Stewart and John BE. Wheeler. New Business and Public Relations —

William T. Bacon, chairman; Herbert M.| Weil, vice chairman: Sampson Rogers Jr. Charles Swift and Frederick R. Tuerk.

“WEEKLY COMMODITY INDEX IS UNCHANGED

Times fpecial WASHINGTON, June 24.—There was no change in the general level of commodity prices in the week

ended June 17, according to the

wholesale price index compiled by the National Fertilizer Association. This index last week remaind at 716 per cent of the 1926-1928 average, the same as in the preceding week. This is the lowest level recorded by the index since 1934. The index was 72.4 a month ago, 745 a year ago, and 86.4 two years ago. A slight increase was registered by the food group index, following declines in recent weeks. The farm product average was also slightly higher, with rising quotations for

i livestock more than offsetting de-

clines in grains and cotton. A fractional upturn in the metal price index was caused by higher prices for steel scrap, tin and lead. In spite of increases in certain cotton fabrics, wool and hurlap, the textile averare turned downward, due in part to a reversal in the upward trend in silk prices. Lower quotations for anthracite coal were responsible for the drop in the fuel index.

NOMINATORS CHOSEN FOR SECURITY GROUP

NEW YORK, June 24 (U. P).— Personnel of the nominating committee of the National Security Traders Association which will seleet officers for the coming year was announced today by Willis M. Summers, president. The following were named: Ernest BE. Blum, Brush, Slocumb é& Co, San Francisco; H. B. McLaren, Mc-Donald-Coolidge & Co., Cleveland; George W. McGhie Jr, George McGhie & Co., Chicago; Thomas Graham, the Bankers Bond Co. Louisville, and R. Victor Mosley, Stroud & Co., Philadelphia.

BROKER LOANS DOWN

WASHINGTON, June 24 (U. P). —Loans to brokers and dealers in week ended June 21 totaled $517,000,000, down $7,000,000 from previous week but an increase of $2,000,000 over like week year ago. Other loans for purpose of purchasing or carrying securities amounted to $201,000,000 unchanged.

FOREIGN EXCHANGE

NEW YORK, June 24 (U. P.).—Following Are closing cable rates on majol ad

PA Ch England | (poynd) ng a. 3 3:18 Range Hy (dollar) .. +100 1-3 France (franc) ..... shel, i 18 ...... 3 [taly (lira) Thiees Siivias Dn int, 11 HL, [000014 (mar — Germany (tr. mk). Lh Vee 7

FOOD PRICES

CHICAGO, June 24 a P.) —Apples Niinois transparents 5c@81; swe set potatoes Tennessee, Niel hampers, aid carrots California grates, 8308 eninach Illinois pushel, : Bale Texas Jues 2; uliflower California crates $1.35: celery “Ealifornia grates. eas alifornia, hampers 356 1. 40. nion market (50-1b, sacks): "Texas yellows,

$1.10; California veliows, 9b¢

To Keep Valuables Safe Rent a Safe apo Box at

* * INDIANA TIONAL BANK of Indiana)

cities, 19,887,486 lines vs. 17,673,145 ago, year to date, 438,699,572 lines cent, Output this week 81,070 last week and 42,918 year ago.

Banking — Federal Reserve: Gold stock this week up $33,000,000 to record high at 16,060 million dollars; circulation off two million dollars to 934 million dollars; excess reserves off 30 million dollars to 4,230 million dollars; broker loans off seven million dollars to 517 million dollars; commercial loans off two million dollars to 1,372 million dollars; ratio 85.5 per cent vs. 85.3 last week and 82.5 year ago. Dun & Bradstreet: Week ended June 21 bank clearings, $5,666,059,000 vs. $4,975.930,000 previous week and $5,553,013,000 year ago. Cigarets—Bureau of Internal Revenue: May output 15445,195,753 vs. 14,423,650,620 year ago, May large cigar production 470,579, 558 vs. 417,137,506 year ago.

Coal—National Coal Association: Week ended June 17 bituminous output about 6,400,000 net tons vs, 6,200,000 previous week and 5,049,000 year ago. Construction—Engineering NewsRecord: Awards this week $40,543,-

000 vs. $55,425,000 last week and | $33, 527.000 year ago; year to date 81, 515,324,000 vs. $1,187,311 ,000 year | ago, up 27.5 per cent. Electricity—Edison Electric In- | stitute: Week ended June 17 elec- | trie rower output 2,264,000 kwh, | best since Feb. 11 and 13.7 per cent above year ago, greatest year-to-year gain since June 12, 1937, vs. 2,256,823,000 kwh., up 13.3 per cent

COTTON-RUBBER BARTER CALLED WAR INSURANCE

Both Nations Get Strategic Reserves as Far East Becomes Peril.

WASHINGTON, June 24 (U. P.), — Administration officials today hailed the United States-British rubber-for-cotton barter as a long step toward the proposed goal of equipping both nations with strategic war materials in event of an armed force showdown in the near future. They believed that the exchange cf 600,000 bales of this country’s surplus cotton for approximately 85,000 tons of British rubber might become an important factor in events in the Far East where officials of both countries believe a showdown between the so-called democratic states and Japan ape pears imminent. Officials considered the arrange ment to acquire rubber for use only in a war emergency particularly strategic. In event of war in the Far East the Straits Settlements and the Dutch East Indies—the world’s principal suppliers of rub= ber—might be cut off.

Army Officials Jubilant

This Government's next move in barter deals was expected to be an effort to acauire a similar reserve of tin, the principal source of which also is the Straits Settlements. The Rubber-cotton agreement, involving about $30,000,000 of American cotton, was signed in London yesterday by U. S. Ambassador to Britain Joseph P. Kennedy and President Oliver F. G. Stanley of the British Board of Trade. War Department officials here, worried about the serious situation developing in China, were jubilant over the arrangements. The 85,000ton reserve supply of rubber is equivalent to nearly three months’ normal commercial consumption in peacetime.

Ratification Is Expected

Officials said they anticipated lite tle difficulty in obtaining Senate ratification or in getting the necessary legislation passed to authorize the Commodity Credit Corp. to dispose of the cotton. Plans already have been made whereby the reserve supply of rube ber would serve as a supply pool.

from year ago, previous week. Failures — Dun & Bradstreet: | Week ended June 15 least for any| full week since Nov. 23 at 212 vs. | 234 previous week and 257 year, agn. Metals — American Bureau of Metal Statistics: May U. S. lead output 46,006 tons vs. 39,250 previous month and 32977 year ago, May shipments 40.124 vs. 903 previous | month and 25,098 year ago; May 31 stocks on hand 129,270 tons vs. 123.- | 394 previous month and 164,636 year ‘ago. Railroads-—Association of American Railroads: Week ended June 17 carloadings 649.086, highest since Dec. 3, vs. 634,597 revious week and 555.519 year ago. | Steel—American Iron & Steel In-

i stitute: Operations this week scheduled at 55 per cent of capacity, high since March 27, vs. 53.1 last week and 28.0 year ago. United Press estimate: Ingot output this week 750,000 tons vs. 724,000 last week and 368,000 year ago. Trade—Dun & Bradstreet: Retail this week 8 to 12 per cent above year ago.

ACTION DELAYED ON MARGIN TRADE BAN

NEW YORK, June 24 (U. P). h The Board of Governors of the New | York Stock Exchange failed to take action at a special meeting held here on the proposed ban on margin trading by partners of member firms doing a margin business with the public, it was reported today. It was stated that the subject was discussed at the meeting and that Edward E. Bartlett Jr., board chairman, will order another special meeting before the regular meeting next Wednesday to have further discussion and possibly act on the proposal.

CLAIMS SPAIN NEEDS LONG-TERM CREDITS

NEW YORK, June 24 (U, P).— Spain is ready tq begin a vast reconstruction program to repair the devastation caused by 32 months of civil war, but she is badly in need of long-term credits, Joseph W. Rowe, vice president of the Irving Trust Co. said today. Mr. Rowe, who has just returned from a business trip to the Iberian Peninsula, pictured Spain as a nation “badly battered by war . . . but far from exhaustion,” and declared that the people are confident of their ability “to regain an important position in world affairs.” “Spain needs long-term credits,” he said. “Unless these are forthcoming, she will purchase only on a cash basis. “Industriaily,” he added, “everything is ready to move. The country has plenty of hydro-electric power, and an abundance of coal. The great need is for raw materi als.”

DAILY MILK SALES CONTINUE UPGRADE

NEW YORK, June 24 (U. P.) — The Milk Industry Foundation reported today that daily average sales of fluid milk in May were 5.08 per cent higher than in the same month a year ago, marking the third consecutive increase recorded in the year-to-year comparison. On the basis of reports from leading distributors in 136 markets, the foundation placed daily average sales for the month at 6,617,697 }{QUnrs, against 6,202,868 quarts in May, 1938.

A SAFE DEPOSIT IS LOW COST BOX “insurance

9 Different Sizes $3 to $100 a Year

Security Trust Co. 130 E. Washington

Because rubber cannot be kept in storage for more than 24 months without deteriorating, officials plan [that industry will constantly consign newly arriving supplies to this pool, and will draw equivalent amounts from the stored supplies. Under the agreement, the cotton and rubber will be held as war stocks for seven years, except in case of war or when both Governments agree to an orderly liquidation.

Each to Use Own Ships

The United States will deliver the cotton, which amounts to approximately one-half of the British ane nual consumption of certain stocks, aboard British-designated ships at New Orleans and cther Gulf and Ate lantic ports. Britain will deliver the raw rubber stocks “on board” at Singapore or other conveniery )orts for transportation by American vessels. The value of the rubber will equal the value of the American cotton, the price of which will be fixed according to rates at the U. S. port of de« livery instead of the Liverpool, Eng land, price, which generally runs lower. The price of the rubber will be fixed on the average value between Jan. 1, 1939, and the present prica.

INSURANGE COUNSEL IS TERMED ‘USEFUL’

SAN FRANCISCO, June 24 (U, P.).—Insurance counselors are ‘not entirely an evil” in the life insure

ance business, according to Louis H, Pink, New York State superintend~ ent of insurance. Addressing the annual meeting of the San Francisco Life Underwriters here, Mr. Pink declared that, al< though these counselors are ‘not particularly popular” with insure ance companies, many of them have served a useful purpose by their criticism.” He suggested that these counsele ors could be eliminated if the agents themselves would take over the responsibility of advising and helping the policyholder. “If the life agents fully live up to this responsibility,” she said, ‘‘there will be fewer lapses and greater satisfaction on the part of the public.”

N. Y. FAIR MAY BRING WESTINGHOUSE GAIN

NEW YORK, June 24 (U. P.).—= Sales of Westinghouse Electric & Manufacturing Co. during 1940 may be boosted to a new all-time peak as a result of its participation in the N. Y. World's Fair, Edward H. Sniffin. director of the Westinge house Exhibit, told Grover Whalen, Fair president, in a letter today.

{ME Dealers ITHTHIA

FIRE — CASUALTY AUTOMOBILE INLAND MARINE INSURANCE at

substantial savings

Ha. 3000