Indianapolis Times, Indianapolis, Marion County, 15 July 1939 — Page 11

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SATURDAY, JULY 15, 1089 _ ne

HE INDIANAPOLIS TIMES ___ GANS GREATER | _ FINAL NEW YORK STOCKS [CORNSLIDES TO THANLOSSES IN er

DOW-JONES STOCK AVERAGES -YEAR LOW BUT

80 INDUSTRIALS 187.88

sowed

PAGE 11

ON THE RADIO

TOMORROW The versatile Maestro Kostelanetz,

10:00—Radio City, NBC. whose followers are both of the 1:00—N. Y. Philharmonic, WFBM. | |ong-hair and rug-cutting varieties, 5:30—Erno Rapee, WFBM. has several summer engagements of

—Pe Low Close chan e a c Net e r Redut .... ie 50% — §% Today +0.81 Hig ot Suge

STOCK MARKET i

Bulls Outnumber Bears, but|3 Caution Keeps Trading Down. NEW YORK, July

Stocks pushed irregularly higher in quiet dealings today. Changes! 4

Wat throughout the list were small, but Ha

gains outnumbered losses.

A Operators showed no disposition

to abandon their policy of week-end caution in view of the delicate international situation. Sentiment,

however, appeared friendly toward

the market and brokers said that bulls far outnumbered the bears, a sharp reversal of the situation prevailing a couple of weeks ago. Bonds were little changed in dull trade. Foreign lines were irregular, with Japanese and Polish isSues lower. News was favorable. The feature

15 (U.P) in A2

{Atlas Corp

was the prospect that steel opera- |

tions will jump sharply next week.| Beton

There were several good second | quarter earnings reports.

present session of Congress may be prolonged because of President: Roosevelt's insistence on neutrality | legislation. Loft, the most active issue, reached a new high at 13%, up 3%.|

International Harvester preferred, | Praag ias AE

Kroger, Manhattan Railway McCrory preferred also reached new 1939 peaks, the latter on a 21% point | gain.

HOGS STEADY TO 10 GENTS HIGHER

Rise Accounted for by Weights Over 250 Pounds Here Today.

A steady tone prevailed in hogs weighing under 250 pounds at Indianapolis today, Agricultural Marketing Heavier offerings, however, mostly 5 to 10 cents higher. The practical top price remained © at $7.25.

timated salable receipts at the BU E32

stock yards were: Hogs, 1800; cat-| tle, 75; calves, 25, and sheep, 2500.

Top Repts. Yaee

..$3 “ent gs 2 cess TD 830% | 55% 15 .... %30

Packing Sows

a and Choise 300..8 5.60- 6.00 5.85

Barrows and Gilts od and lens

OS ’ ARI gy ~TaFuyain

3.50 4.90

Sond fr Sen &

ht 09 yen

<> ’ «<

Medium— Slaughter Pigs

Medium and £50a250- 500.. 4.00- 5.50

00 LO

6. 6 6 7 7 6 8 6 3 3.

on ANSE ‘ ' OB bt «TCS 500 19 hg bot = Lo Ne)

edi 160- 200. 8.25Slaughter Cattle & Vealers ei, 5)

Bulls | (Yearlings excluded) 50 Reef— ..$ 7.25- 7.95

7.50 7.00

1.00 . 6.75-

noe NEN 6.00- 6.75 Simhel, Bros . id ,-

yee 8.50- 9.50 Goth Hos bpf..

- 330

1100- 1300. 50 |

Common— Calves 750-1100. 23) (Receipts, 25) Feeder, Stocker Cho ae Steers k: 300- 800 $ 9.25Cholce— | T50- $00.8 9.50-10.00 og 050 + 2525-

Heifers

Bn. 8.00- 9.50) \edium— 500-1000 8.00- 9. iki

3. 8. 7.75-

7.25ows

Good 750- 900.

Medium 500-500.

Com

500- 800. 7.00 8.00 Mediu

& & good $ 5.50- 6.50 Calves itetts) {Good & choi .50] 300 down Ss 9.50- 10.50 95 Medium— | 500 down $8.50- 8.50 53! Calves el fers) .75/Good & cho | 300 down s 8 50 50- 9.75 5- 500 Medium— 500 down 7.50- 8.50

SHEEP AND LAMBS (Receipts, 2300) Spring Lambs Good and choice Medium and fase Common .

Ewes (on shorn basis)

Good and choice wht iikienhs Common and medium ......

CHICAGO LIVESTOCK

Hogs—Receipts, 1000; nothing done early on limited salable supply available; for the week hogs declined unevenly widening spread between weights 2 240 bs. down and heavier butcheres: closing levels 240 Ibs. down 10@25¢c lower, heavier butchers and acking OE largely 25@33c down; late op. 53 bulk good to choice, 180-240 bs.. Ha 7.25; 240-300 lbs. $6@7; light Bs. $5. 70; heavier packers down to $4. Cattle—Receipts, 400; calves, 100; market nominal: for the week receipts burdensome; medium weight and heavy steers 25@40c lower: long yearlings and light steers 25c lower, but good to choice 730-| 850-1b. yearling steers and light heifer and mixed yearlings strong to 25c¢ hi gher, comand medinm grade steers 15@25¢ stockers and feeders sharing decline; plain and medium heifers weak to 25¢ lower; cows 25 40c off; bulls 25¢c lower and vealers 50c down; top prime heavy tseers. $11.25; heifer yearlings, $10.10; bulk steers and ‘vehrlings $8.75% 10; M40 0g $8.50 @9.75; grass steers, [email protected]: canadian steers, $11.25; heifer vearlings, $10.10; buik Sheep—Receipts, 1000; market nominal; for the week spring lambs and yearlings ully $1.25 lower; sheep off 23c¢; sprin p. $10.25, closing tod $9.35; bul $8.75@10; western ringers, $9 first Washingtons $9. 5 at close;

Canner

utter) .. ®&

3.2 2.7

mon lower;

food 77-80-1b. fed clipped California s Tine

bs, $88@8

$7@8; 3 Sas 50.

{Ml Dealers Hutual

FIRE — CASUALTY AUTOMOBILE ANI. oY VEE]

INSURANCE at LUCIE NZL EG

.75; best yearlings early

Main in- |} | Budd Mf "y terest in the Washington scene was! Budd Wheel “is focused on the possibility that the Burroughs oe 1 2 2

| Cannon Mills

and Certain-teed Soten~ -td 6 pt 281

IS 8 | Solum: Gat Civh

Cong-Nairn

|Qon,

Coty | Coty Crown Sor: ‘as according to the! Crucible St

Service. | Deere pf were |B 1 : | Dis t Se pf ww Dixie Vortex a 3214

Dresser Mfg ..

Teo Repts. | Eaton Mtg 4460 | Edison Bros .... 5138 | Elec Auto ooo

5 Fair The of .. Fair Morse . | Fed

2C 7s Food M cu cv pflo7

Gameval Co .. 9%

Gen

Gen Gillette S R.

| Hupp Motor ...

0! no Fant

bulk native slaughter eves, | §

34 14 183% % 33% Se 1a 3% 14 lg 1a

“9

llegh Corp Heh | Lug stl. af IT “

|A 14 m Br Shoe ... m Can

in Am Am Am Pwr&L

ve ls Ye

—

Am Am Rad 12% Am Roll Mill . 13% Am Safe Razor. 13% Am 1t Am

SY a G3 GY

ip 1 14 a

1, |Y

wr. OTN

OF fo pt 4 et (3 fo Vy 0 19 £9 BI OF CD he le CO 89 =F

1 | Yesterday ie [Week Ago . Month Ago

rmour I 4 Y 15 ls Atl Refining Ys

. 4 Aviation Corp . 4%

113% £5

113% 25

. 24 Ben Ind Loan.. 20 Ben Ind Loan pf 54 Beth Steel .... 58% Blaw Knox .... 10% Boeing Air - 3

ore: Tv arner .. Hd ower R B Log sive 3dgept Brass .. 102 3 | riggs Mfg . 213% 3 Bkilyvn-M T ... 121 -M T pf. 403 & Q pf. 103% BRI U Gas . 237 3ucyrus-Erie 8 47% ‘8

Bald Loco ct... hio ... id |p tv

C als

S C

1® 1

ers pt Ts

i Callahan Zine . 7s G2neds Dry . 1 Can Pacific . 4 . 3s Caterpillar T . 433 Celanese | Celotex

Yesterday

Today ... Yesterday

227% General Motors 1% A Cie United ft se Nat Dairy ....

3 Manhattan Ry 4 Colum Gas. .

| Graham Paige. Yellow Truck..

than a year.

eos beRINbRRE EL,

Week ARO ...cocovuiirennens Month ARO .coiviviivnninenns. Year Ago

Sere L er ea

137.5% 138.24 185.31

. 133.58

High, 1989, 134.85; low, 121. 4a. High, 1938, 158.41; low, 98.95. 20 RAILROADS

WEEE AKG «ccsoiiorascanions Month A0 ....c.iiive.es Year Ago

vee

27.49 N45 26.66

High, 1989, 34.38; low, 24.14. High, 1938, 33.98; low, 19.00.

15 UTILITIES

Sees eET ATE L ERR

oday

ear Ago

Sere tr betta “esse ategpetetnae

Serssannansene

24.32 24.82 23.87 . 240 21.39

High, 1939; 26.52; low, 20.71. High, 1938, 25.19; low, 15.14.

16 MOST ACTIVE STOCKS

133%

sckard ...... 32

od | Western Union 25

S Rubber... hrysler o American ..

. 42% BY 28 a 11% 163 3% 23% 183% 81 6% 3% 151%

Air L..

perry Corp .. ont Motors

llis-Chal ....

“iu High Low Loft cc iceiine

1234 34 2312 2% 34 22% 4% 1%

13%

Close Change Reo

13% 8% 23 93% Sig 23 31% 113% 16% 131g 23% 13% 83834 6g

34 151%

-0.43 40.02 +064 +128

Net

al heat + %!Simmon tg Fg Stl ww.

Stock sales for the two-hour ses-

sion were 210,000 shares against 110,000 a week ago when volume dwindled to the lowest level in more Curb stock sales were 44,000 shares, compared with 34,000 | last Saturday.

38 o de Pasco 38h

& Ohio 337% ChMStP&P pf . Sg Chi Pn Ti cv pt 3, :

Chrysler City I & F. : Bs §

FLITE

vue S815 & E fon 1314

Gls Com Credit ... 48% Com Inv Tr .. 52 |Gomwith Edison 2% {Comwith & So {Com’'th & § pf et

3 . 312 “a 75a R C pti. 1 1g Bak pf ol Mot... iio 2%

1 Vi

‘4

| Cons Aircraft. | Cons Edison Cons AR 1a “v4

Sant nt

um Sont St Corn

rt rey + |

1a] |L

Corn

Inter Crane Co

| Crown Zeller ..

CHE]

urtiss-Wr

is.

- 634

t “ie ‘15156 t of: 130%

| Douglas Air . Li 3

Bast Alr L .... BSE R Mill ... st Kodak

Elec P & “jt 4 ElP& LS 7 of. 123 Era Johns or. Pub S Equi Bldg Evans Prod ....

EEE

++ +i: :

Screw

—G—

Gair Robt pf.. 2s

"or

Baking .. Cable .... 11% Electric. . 361% Foods .... 48% NE

Mts Cuil 45's Motors pf 123% T&R 231

Gen Gen Gen

+: ++]:

Gen

Gen Moto

Gen

Bo REN oa res bb bs

“TBI

Go ear

Graham- Paige.. Gran ‘ aay Union .. Grand . Gt North pf .. Grevhound Co

«i © ot a Ea aw

s Bdy

INCORPORATIONS

Ind Rayon Inland “ | Inspiratn Cop | Insshs cts Ma. Inter R Interchem pt. . ry 1) = es Int Int Int H Int Int | Int Int 1 {Int lg Int T&T 1s | Int

Cop .-.. Midland st . jaland no K

Nash Roy eens Na

High ii: oe 3 11% . 52

1, Central .... Sti.

Harv ester re

1 | 1, | Johns-Man ....

{ Kelsey-Haves B Kennecott .. | Kresge S | Kroger

G &B

ambert

“14 Lane Bry

orillard

Mack Tr

4 McIntyre Porc. 56Y% McLellan St .. 8% Melville Sh ..

: 58% iami 2

f. aff oF. Hi

Motor Wat Mueller Br

airy 4 Dairy of B 103%

pt St . tis . 2 Gypsum .. 12 Le

a we 201 Lead pf B 144%: B& Lt ... 8

. 10% .. 38 . 4%

Net Close Change

112 26, dle 5 Sa

ow ~ ad

IP ++

Lrtrteteict atom Nor “0 w Sd ~~ bbe

i ._ - SNE ae

Nob br DOW

1s 4 Ye

b+ 1+): IH

ania

ws. Yy “ — 1g

+ 13

‘ +

3 Va

+ PY14 | Yabas

¢ Coas 0 Sout 1 eS Coast

acifie Packard .“ packard Co... Paramt Piet ... Park Utah ....

Benn Coal & c. 0 St pt | SIRE ot

CUier=

Republic. Stl es Revere Co 12 Reyn Sprn

Reyn Tob “ Richfield Oil

Safeway St Jos Lead .. St L-S pan... Savage Arm Schenley Dist pt ia Scott Pap 50 Scott Pap bf vf Seabd Air

BY 130

+ 3 35% Ya | 13%

Ye Sears Roebuck . Rh c 3%

Skelly

Socony Vacuum !

South Pac South Ry Sparks With Sperry Corp ... Spicer Mfg .... Spiegel Inc .... Des Ine wo ot.

mena >

Witt Tatl ©

Tenn Corp .... Texas Cor ‘e

20th Sent- Fox. : Twin Cy R T Twin Coach

Unjon B & P

Union Carb 2/Un Pacifi

Pac pf Aircraft Cp. Air Lines... Bis p 13

Vanadium .... 21

of A.. } Sys... 6 22

+ le!w Pa

+ 1% la

National Distilleries Corp., Indianapolis; amendment changing name to National Distributors Corp. The Spring Grove SP; registration of labels, "K oie Bonded,” C Waterfall” an ha pring Grove,” Class 48; distilled alcoholic liquors.

A Pioneer Trails Council, Inc., Boy Scouts|B America, St. Joseph Manor, Elkhart; |B stock; Guy B. Tuthill, Jay Wallic Francis J. Geiger. DanDale, Inc, 102 N. Walnut St. Bloomington; agent, J. Dale Ferguson, same address; 1000 shares no par value; operate cafeterias, etc.; Dan Jenkins Jr.. J. Dale Ferguson. Fred J. Hu Demet & ., Inc., 2137 Broadway, Cary; agent, Grover C. Deimel, same address; 1800 shares no par value; ture and household apdliances; Grover|w. C. Deimel, Anisen Wright, Harold Deimel. |; Linton Wholesale Grocery, Inc., 90 S. Main St. Linton; agent, Ellis J. Crum, same address; 200 shares of $50 var value; wholesale grovery business; Ellis J. Crum, Marion L. Crum, Wendell B. Ho is Du Repel Corp.. 718 Union Title Bldg. mAs napolis: agent, Paul C Cullom, ant address: 200 shares PL Fed of $100 par value and 200 shares common uo par value: manufacturing special processed material for the printing trade particularly for_line-casting machines; Paul C |Sliom, Elizabeth Mahoney, T.

elo diana Cullet Corp., 124 W. McCarty St... Indianapolis: agent, Berne Zeir, 825 S. Meridian St., Indianapolis; 1000 shares no pa value; transportation business; Bernie Faier, M. Rootstein, Julia Spitzer.

OTHER LIVESTOCK

LAFAYETTE, Ind., July 15 (U. {jog © market Jeaay, 160-200 ibs., -2 36.85@ 7.20; 240-2 $e $3as. 75; 280° S305 1bs., [email protected]; pigs 350 down;

Chicago, Ill.

C C C

furni-

roughs, > down: calves, $8@ lambs. 29 dow FT. WAYNE, ne. July 15 al i vl LE 1bs.,

Roughs,

stags, $3.50; caives, $9; lambs, $8.50.

NOTICE

Woodstock Typewriter Co. Announces

Its New Location

G.|Be

Cc. Baten. L

ath Ir Wks .. n & Hed Py : Cent St ities Ss PLS Bt 74 ity Aut 43; osden Pet fii

Darby Pet Duro Test .....

Grumman Air . Hall Lamp

lis Chalmers 3endix Aviat

cone

d West Corp ET IT) Un pf ‘

S| Allied Lab Ine......... +| Armour & Co | Asbestos Mig cetentanen Aviat Cor

IEE

Clb HEL

55 Century Bldg.

Formerly 30 S. Penn,

All Makes Rented and Repaired Quality at a Price WOODSTOCK TYPEWRITER CO.

LI-4712

A SAFE DEPOSIT

BOX

IS LOW COST INSURANCE

9 Different Sizes $3 to $100 a Year

Security 7

130 E.

rust Co. ashington

&. wid an20%e

Worth 2

seed

Yellow Tr

Young Sheet .. 8

3 . 38% 11

wn Wis

t Ss Ye

+ + 1%

Weather Brings Late Buying Into Wheat Pit.

+ Hot

CHICAGO, July 15 Wheat prices ruled fairly steady on the Chicago Board of Trade today, after opening weak. July corn slid to 427% cents, lowest price since April, 1934, on early selling, but recovered to close firm. «| At the close wheat was off % to % cent, July 66c; corn was unchanged to up % cent, July 44c, and oats ... |were 1% cent higher to i cent lower, "y, | July 273sc. h a] Late buying in wheat was based on a forecast of another hot spell in the spring wheat belt for next week which stimulated short covering. Early losses of about ' cent were erased on the upturn. Reports that wheat at the Gulf was offered for export at competitive prices with Canadian offerings was another constructive influence. Actual export sales were flat, however. Corn prices dipped about 1 cent into new low ground in early trading, but subsequently recovered the losses on the unfavorable weather forecast for next week and reports that the Government-owned corn would not be unloaded on the market.

CHICAGO GRAIN

CLOSES HIGHER!

Forecast

(U. P) — of

Walter S. Gifford . . . Telephones in use rose 3.5 per cent in first six months of n

AT. &T. GAINS IN 20 QUARTER

Earnings Amount to $2.52 Per Share for Common Stock, Report Says.

NEW YORK, July 15 (U. P).—

RANGE High Low $.65'% 86;

67%

Per $.66vs .67

68% '

Wheat— Close

.68%

451s 457s

391% 407s

.6834 4

Wheat—No. 2 red. 69'2@6934c; No. 2 vy low hard, 67!'2@68'ac; No. 3 yellow ae A 86@66%c: No. 3 yellow hard tough, 653ic; No. 2 mixed, 68¢c; No. 3 mized, 6612 @6%¢Corn—No. 1 yellow, 45'2@46%;c; No. 2y low, 453¢; sample, dec.” a — samole mixed, 25%¢c; No. 2 g 2 wh 2002950: No. 3 white. Var, 2830: No. "| L2@28c; sample, 261326 ss. Rye— : 48lyc. Barlev—Feed, 35@45¢, nominal; malting. 48@57¢, nominal. No. 2 yellow, 88. Cash Provisions—Lard, 8 | $5.55, nominal; loose, $5.05, asked; leaf, $5.25, nominal; bellies, $5.75, nominal.

LOCAL GRAIN

a Noo pred. 8 Steady. Teceiniss 8 car- ; ed,

21% loads: No 3,@62%c; No.

h / receipts, 38 carloads; 63% 8 .... [40l2¢: N 3 vellow, : cen yellow, 37'2@38'¢; white corn 8 cents over yellow; mixed corn 1'2@2!2 cents under yellow Oy saris: steady: re10 carloads . white, 253:@ 3 white, 43s @ IB er

WAGON WHEAT In anapals gIsin elevators are paving 4 |for No. 1 red. 58¢:' other grages on their merits. Cash corn, new No. 2 vellow, 45¢c. Oats, 29%c.

3812@39'z¢;

cepts, 27%e¢; No.

WINNIPEG WHEAT Hich

Prev. Close $.545, £47, .56?

MIDDLETOWN MAN'S HOGS SELL AT PEAK

Herman McClain of Middletown,

Corn and Wheat Region Official Weather

Henry County, today broke the price range at the livestock yards with a load of 38 202-pound Duroc hogs five and one-half months old. Mr. McClain’s hogs brought a 5-

Stations Nays. Dame

Wheat feid Rochester Ma Cambridee City. IE] i Paoli Ft. Wayn

The following apolis Bond & S

indicate based on «buyin

Auto Invest C

Cent Ind Pow 7 Home T&T Hooks Drug n

Ind & Mic ndpls. Sater, p! fd ndpls Gas Ci [ndpls P & [ndpls P &

Pub Serv Co of Pub Serv Co o Ind G & E ¢8% Unton Title Co

Amer Loan 8s Citizens Ind el 4

orr

Noblegile HL&P hio Tel Co

Pub Tel 42%

*px-D

WASHINGTON.

pared with a year

Customs

INDIANAPOLI Clearings

Sikarings

High tow tation weather 55 .00 Clear

LOCAL ISSUES

glictath sent actual price of offerings but merely the approximate market

and selling quotations o recent transact! ons, :

orp *Beit RR & Stock Yds com. *Belt RR & Stock Tis old 3s

7% pid . m Reyne 7 Ind Hydro Elec Li ? pid. h pid

Progress Laundry Co com .. 3 Ind 69 pid.. Ind T% RE.

T Haute Elec Co pfd Van Camp Milk Co com .....

Bonds American Loan - ih

ater 5% 58 . 104 {uhner ‘Packing Co Co $0 80. 99 Va StL Stk Hosiery “Rule 5s a2. 6%%

55 9 Richmond Water 3 Wks 3%, 9 0! r 110

igen C. M. Cri Market St. 1 Investment Corp. 21.43

U. S. STATEMENT

July 15 ernment expenditures and receipts for the current fiscal year through July 13, com-

For the Week SEP Ecce ine Vives 2. g22. 000

cent premium above the market recipi- State of price at $7.30.

Clear Clear Clear PtCldy

Today's Business At a Glance

By UNITED PRESS CORPORATION NEWS

Bayuk Cigars, Inc. 6 months ended June 30 net profi $734,580, equal to $1.75 a common share vs. $473,291 or $1.05 year ago; June quarter net profit $446,604, equal to $1.07 a common share vs. $287,976 or 68 cents year ago. Continental Steel Corp. June quarter net profit $253,128, equal to $1.06 a common share vs. $156,091 or 57 cents year ago; June quarter sales $3,678,005 vs. $3.202,438 year ago. General Baking Co. 13 weeks ended July 1 net profit $551,096, 2 equal to 24 cents a common share vs. $538,844 or 23 cents year ago; 26 weeks net profit $782,563, equal to 27 ,|cents a common share vs. $861,661 or 32 cents year ago. National Bond & Share Corp. June 30 net assets equal to $24.09 a share vs. $23,66 March 31 and $24.96 year ago.

Cloudy Cloudy PtCldy

ons by the IndianCorp. do not repre-

level

DIVIDENDS

Silex Co. extra 5 cents and regular quarterly 25 cents on common, payable Aug. 10 record July 31.

UTILITY DIRECTOR RESIGNS FROM POST

NEW YORK, July 15 (U. P.).— The resignation of Francis P. Cummings, director and consulting vice president of Associated Gas and Electric Co., was announced by the company here today. Cummings’ retirement from the company was attributed to an illness of the past several months. His successor has not “yet been chosen.

DAILY PRICE INDEX NEW YORK, July 15 (U. P.).— Dun & Bradstreet’s daily weighted price index of 30 basic commodities,

56 4

st & Co.)

(U. P.).—Gov-

Last

average equals 100). Friday .....ieovvecvssncvnces 103.09 Week 880 ...eocesncscesces. 103.87 Month 80 c..coisvcuvsvevs. 10585 Year ago ceviveesenvev 105.10 1939 High (May 26) ......... 108.02 1939 Low (July 15) ......... 103.09

2,000

FOOD PRICES

To Keep Valuables Safe Rent a Safe Deposit Box at

ww THE «% INDIANA NATIONAL BANK of Indianapolis

HICAGO, July 15 (U. P.).--Apples— Illinois Transparents, bu., 25@75¢c; sweet otatoes—Tennessee, bu. .10; carrots—California, 2.50; spinach illinois . matoes—Illinois, 20 Ibs. J cauliflower—Washington, crates, $1.2 1.35; celery—Michigan, square crates 0c: peas Washington, u., Teo Te Onion market (50-1b. sacks)—Iowa yellows, 70c; California yellows, $i.

Sovbeans— |

compiled for United Press (1930-32!

American ‘Telephone & Telegraph Co. today reported consolidated earnings for the three months ended May 31 applicable to the com-

439, mon stock of $47,115,557, or $2.52 a

‘share, compared with $38,438,931, or [$2.06 a share in the second 1938 ® quarter. | Earnings of the parent company 'alone for the three months ended June 30, 1939, totaled $40,303,784, or $2.16 a share, against $37,067,996 lor $1.98 a share in the corresponding 1938 quarter. Walter S. Gifford, president, in a |statement accompanying the report, {told stockholders that the average {number of Bell System telephones lin service during the first six | months of this year was 3.5 per ,. cent greater than in the corre|sponding period last year. “The net gain in telephones was {about 370,000 as compared with a gain of 133,000 during the first six months of 1938,” the statement read. “For the second quarter the ‘net gain was 155,000 while the gain |for the corresponding quarter of last year was 35,000.

TURNOVER IS QUICK FOR GOTHAM BONDS i:

NEW YORK, July 15 (U. P.).— Speedy sale of 35 million dollars in notes and serial bonds of the City of New York featured new offerings aggregating $44,585,000 this week, compared with $1,072,000 last week and $47,499,000 in the 1938 week. National City Bank of New York headed the syndicate which bid successfully for the New York City loan, bidding 2.794 for the whole issue. The bid was “one of the most attractive ever received by the city, considering the average maturity of more than 21 years,” according to Controller Joseph D. McGoldrick. Other offerings during the week included eight other municipal loans aggregating $2,010,000 and $7,575,000 in equpiment trust certificates of the Southern Pacific Railroad.

SEC ISSUES RULES ON GOUNTER SALES

WASHINGTON, July 15 (U. P.).— —The Securities & Exchange Commission today took its first formal step toward regulation of ‘over-the-counter brokers and dealers, issuing rules governing the registration of national securities associations under the Maloney Act.

The Maloney Act sets up procedure under which the over-the-counter business may be organized into securities associations to establish a self-regulating system for enforcing fair trade practice. Commission officials said for the next two or three years the SEC probably will do a large share of the regulating until associations of brokers and dealers become strong enough to take over the job themselves.

ENGINEERING AWARDS GAIN 55 PER CENT

NEW YORK, July 15 Engineering construction awards the week ended July 13

amounted to $58,003,000, a gain of 55 per cent over the preceding holi-day-week, and 13 per cent over the corresponding 1938 period, Engineering News-Record reported today. Awards in the week ended July 6, which included the Independence Day holiday, were $37,549,000, while total for the week ended July 14, 1938, was $51,260,000. For the year through July 14 awards aggregated $1,652,776,000, an increase of 19.5 per cent over the corresponding 1938 period.

LOCAL PRODUCE

Heavy breed hens, llc; Leghorn hens, ge Barred and White Rock springers, 2% lbs. and id Lae colored SpHngers, 2%, lbs. and Hy] eghorn broilers, Ibs. and O3er, 2¢; i 8 hickens. 2 Ss? and over, c No. 1 strictly fresh sountry- -run eggs, 11c; (each full case must weigh 55 Ibs. gross: a net deduction of 15¢ for each full .ase

under 55 lbs. will. ro hy ade er—No. 1, 262 @ 3c: No. 2, 24%2@ No. 2, 18c.

But 25¢c; butterfat, No. 1. Soc: (Prices quoted by Wadley Co.)

STUDY BROKERAGE BANKS

NEW YORK, July 15 (U. P.).— The New York Stock Exchange has formed a “public examining board”

(WU. P)—

Exchange’s business, a letter made

; | public by William McChesney Mar302 [tin Jr, president of the Exchange, 90. | to the Securities & Exchange Com-

mission disclosed today.

By James Thrasher

. | Symphony.

to study the question of brokerage] a banks and related aspects of the

6:00—~Charlie McCarthy, WIRE. 7:00—~Frank Black, NBC. 7:00—James Melton, WFBM. 8:00—The Circle, WIRE.

"GOOD MUSIC"

Frederick Converse’s skilful, imaginative composition, “The Mystic Trumpeter,” will share the hour with Schumann's “Rhenish” Symphony (No. 3) when Howard Barlow returns to the CBS-WFBM microphone at 1 p. m. tomorrow to conduct the Columbia Broadcasting

Indianapolis Symphony Orchestra patrons ‘will recall that the Converse work was included by Fabien Sevitzky on the orchestra’s opening program last season. It is based on the Walt Whitman poem of the same title and is, generally speaking, a more warm-blooded creation than one customarily finds among our older New England composers.

The canoe - paddling symphony lovers of Washington, D. C., are going to hear Andre Kostelanetz in a guest appearance with the National Symphony Orchestra tomorrow night. A portion of the concert will be broadcast by NBC-WIRE at 8 o'clock. The Washingten summer concerts are given near the Lincoln Memorial, with the orchestra seated on a barge in the Potomac. More energetic members of the audience frequently paddle alongside for a spot of water-cooled music at close range. Incidentally, the Washington orchestra is inaugurating a summer broadcast series with tomorrow's program. Under its regular conductor, Hans Kindler, as well as guest leaders, the orchestra will be heard at this same time each Sunday evening, and at 8:30 p. m. on Wednesday nights via NBC-Blue. o ” =

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a serious nature. Having already appeared at the head of the Philadelphia Orchestra in Robin Hood Dell, he is booked to conduct the New York Philharmonic-Symphony at Lewisohn Stadium Monday night; a Grant Park concert in Chicago the following Monday; a performance in Milwaukee three days later, and a final concert in the Hollywood Bowl, Aug. 8. Lily Pons, who, as you know, is Mrs. Kostelanetz, will be guest soloist at these four concerts.

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An NBC staff pianist who made good in the home studio will be represented on the NBC Orchestra concert which Frank Black will conduct at 6 p. m. tomorrow on NBC-Blue. His name is Earl Wilde, and he is to be the soloist in a performance of his own composition titled ‘Dance for Piano and Orchestra.” This will be the first public performance of the entire work, . tJ 8 t J At 8 o'clock tomorrow night, the Chicago Philharmonic Orchestra, Richard Czerwonky conducting, will be heard on WENR. . . . Howard Barlow comes back on CBS-WFBM at 3 p. m. Tuesday in a 30-minute program featuring the Pavane from Morton Gould's American Symphonietta No. 2. And on the same network at 7:30 p. m. Wednesday, the New York Philharmonic-Sym-phony will be led by Frieder Weissmann in performances of Beethoven's Fifth Symphony and the Prelude to Act I of Wagner's “Meistersinger.” 2 8 2 Erno Rapee has keept count and discovered that when he raises his baton to conduct Strauss’ ‘“Fledermaus” Overture tomorrow night, it will be the 1100th time that he has directed the work. For this marathon feat, plus additional music, tune in CBS-WFBM at 5:30 p. m. tomorrow. s

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