Indianapolis Times, Indianapolis, Marion County, 31 July 1939 — Page 11

DELANO PLANS PROBE OF BANK LENDING LAWS 2

Restrictions Held Cause for Large Amount of Idle Cash.

' WASHINGTON, July 31 (U. P). . ==Controller of the Currency Preston Delano and the 12 chief national bank examiners will make a complete survey of national bank exami-

nation policies tomorrow, it was Childs; or 1 zoadcast A He

learned today.

They will attempt. to determine|C

whether present policies are retarding expansion of bank loans. = FHA Rate Cut The purpose of the conference be-

eral Housing Administration announced a reduction of onerhalf per cent in the interest rate on home financing insured by the FHA. The FHA notified-.more than 12,000 ‘banks, savings, building: and loan associations and other private lending institutions that effective tomor-

row, the maximum interest rate on|Ei°g P¥' Eng Bab

mortgages accepted for insurance by the FHA on small homes will be 4% per cent and on large scale rental projects, 4 per cent. Federal Housing Administrator Stewart McDonald said the reduc-

‘tion was in line with generally lower |$

interest rates now prevailing in the

money market. He said a number|$

of lending institutions have been

Barnsdall Best &

Byers, A M Byers PL.ioee

ons Cont Cont C Con

came known shortly after the Fed-|coty

Del ‘& Hud . Douglas Air . Duques L pf..

East Ale Lines. Au

Fai fed| Screw

'N. Y. STOCKS

High Am Sater w os ash

Aw Eager vou as °c Dine

Atlas Corp .... a ose

0 eee Beth Breet =

Boeing sede Bond % stores oe Borden Borg Warner .e Briggs M; Bklyn-M

2 ... 22 T

Ga.

& So th & S

Cong-Nairn eri Cons Edison ... Cons Film

rane eer .

L $7 pf 3

31, os - 19%

5 n%n .

« 11 Ta

th Bison | 31 son . ith & So . 114

ees 3%

- 19% ati 117%

12%

L141

: teivy Rebs

14+

Yl +: ++ nd

RES SA

I+ FHL

173s 70%

HHH] +

Morse .... Be

on Cigar

en Electric ...

making FHA-insured mortgages at|Sidden 4% per cent interest and even less go d.

for some time. Idle Cash Sets Record

Banks at present have the largest volume of ‘idle, lending cash cn hand in their history. Loans by banks, however, remain at a relatively low level, & situation which ° banking officials, both within and outside the Government, blame on Federal bank examination policies. Mr. Delano has denied that restrictive regulation is responsible, contending that there was so-called “adventure”. or speculative money which banks Yould nog be expected to lend. A five-point agenda ‘will be discussed at tomorrow’s conference. includes: 1—Classification of bank assets made by examiners, which some persons contend is unreasonably severe. : 2—Small loans.

Here Pdr Herc Pdr pf.. Holland Furn .. 39 Hudson Motor . 5%

Li Loft, Inc

Grant pf . Gt North ‘pt. Greyhound Cp.

..130

Ill Central

Inspiratn Cop . Md..

Insshs cbs Inter RT Interlake Ir ... Int er hs ‘Int H Int Nidkel Int T & Int T&T For .

» 1: +:

3% 130 39

. 6%

Kennecott It | Kr Kroger G&B .

esge

&MB .

Mack Tr ..ceee.

M 3—Substantial banks and incom- | Ma ti

petent bank management. 4—Real Estate loans and problems connected with them. 5—Investment securities and depreciation. .

ESTIMATE FOR NEW FINANCING ISLOWER

‘NEW YORK, July 31 (U. P.).— State and municipal financing scheduled for this week will aggregate $22,952,763 compared with $25,888,532 last week, the Daily Bond _ Buyer reported today. The weekly average of new offerings for the year to date is now $26,957,352. A 15-million-dollar flotation of Nashville, Tenn. electric power revenue bonds will feature the week’s activity. The loan is to be made to provide funds with which the city may purchase the local properties of the Tennessee Electric Power Co. The issue is to be sold Aug. 2. On Thursday the city of Baltimore, Md., will sell $1,355,200 burnt district improvement stock and $3,204,300 of new sewage improvement stock, both due in 1980.

‘RELUCTANT’ JUDGE ' EXTENDS DEADLINE

PITTSBURGH, July 31 (U. P.).— Federal Judge R. M. Gibson today “very reluctantly” granted trustees of the Follansbee Brothers Steel Co., until Oct. 2 to effect a new plan of reorganization under the Federal Bankruptcy Laws as a representative of the common stockholders committee asked the court to appoint new trustees. Pointing out that the reorganiza-

i oceedings had been in court |Parsains. tion pr Fag Rent levels have remained about

five years, Judge Gibson said “We| have reached the jumping off place.”

He said he had received numerousj :

letters of criticism for granting continuances in this case, adding, “I don’tsknow that the letters are undeserved.”

UNION OPPOSITION REVEALED IN POLL

WASHINGTON, July July 31 (U. P.)— The National Association of Manu-

tag MeCroty pf . Mc

Wooo Up,

of 1938.

the report.

raw El ..

1 21Y,

Johns Man eeee 78%

+-109% 108% 108%

187% 22 1 12% 34Y, 4% 21%

Eas ee’

"By United Press :

z Net Last Change

Safewa. 8 [Sch

A cA Min oe 1044

i Yellow Tr

Living Costs

U U US Realty -U U

DOW-JONES STOCK AVERAGES

80 INDUSTRIALS =0.11 =0.53 +0.20 -—0.88

Week BEO ..vsossobsnsse Month ag0 ....cc.000 Year ago High (1939), 154. 85; low, 121.44. - High (1938), 158.41; low. 98.95.

Month ago ........ ssvsecenses 26. 17 Year ago High (1939), 34.33; low, 24.14. High (1938), 33.98; low; 19.00.

Saturday Week ago .... Month ago .... Year ago < High (1939), 26.52; low, 20.71. - . High (1938), 25.19; low, 15.14.

Net High Low Last Change Mengel 1st pf. 1% 2 17% — 4 rph 109%, 109 109% .... Murray pt 033 Lp 58 eose

L.32 .. 40% . 15%

N Ch & St 20 7% Nat Biscuit . 3

Nat Pwr&lLt NY Air’ Br. NY Central

Won

orwalk T .... Norwalk T pf.. 43

gts Steel ow

10 I Giass iu 66% J

Pac G&EL . vie 3056

enn Sfeifter Brew | .e Phila Rap Phila Read C

H+ +4: |

2 Ya —

1+;

6 Radio . 65% Republ J sh: 17% 17%

45Y, 13%

Sou vy pf ... Spiegel Tac cess : ege cede Sha oil NJ Stew

The tie

—T— Texas COD +... 37% Thermoid a pte.

eto se

3% : —— Un A Un Air Unite Rte

Dnited Fru Un Gas oes S Ind Alc a i S Pipe & FP . Rubber .... S Steel U S Steel pf .

Un 1 1 1 1 1 1 1 1

Vadsco Sales .. —We, jalkreen pf ww 98 o8

t 5 a El 6 nt [1037 10315 Jest Union .. a 25Y2

40 - 23% ilson & Co .

sdd44444

26%; is 3% Joolworth «... : 43% 48%

Dip in 1 June, Report Says

Times Special

MINNEAPOLIS, July 31.—The av-

erage American worker’s family has $7.50 more buying power per month in its purse than this time last year; wages are climbing toward their 1937 highs, while f have fallen to 1936 the largest item in the budget, is the cheapest it has been since the middle of 1934, according to a midsummer buying power study by Northwestern National Lite Insurance Co.

ily living costs evels, and food,

With increased buying power, U.

S. families have spent 5 per cent more at retail stores in the first half of 1939 than in the first six months Individual optimism generated by the rise in pay checks per worker, which has continued with few interruptions for 18 months, has undoubtediy contributed to the 68 per cent expansion in factory automobile sales shown in the first half of this year, compared with the same period of 1938, the report says.

Rent Level Highest

A -month’s

ains

supply of food for a family of four, which could be bought for $30 at 1933 average prices, reached a high of $39.09 for the same items in May, 1937, but grocery price tags have been successively marked down for the past two years until at June, 1939, prices the family’s bill for the samé items had fallen to $34.48, according to It is necessary to go baek to 1934 to duplicate these food

By UNITED PRESS Hudson Bay Mining & Smelting

facturers reported today that a re-|28°

cent nation-wide survey made by it showed that 61 per cent of the public—and 50.7 per cent of factory workers alone—are opposed to forcing every worker to join a labor unio. The N. A. M. said that this indicated increasing opposition ‘to compulsory unionism. It cited figures from a similar survey in 1937 :when the public voted 57 per cent

go. : Jewel Tea Co.

Maytag Co.

Co, Ltd. 6 months ended June 30 estimated net profit $2,243,591 equal to 81 cents a share vs. $2,038,322 or 74 cents year ago; June quarter net profit $1,074,336 equal to 39 cents a share vs. $1,067,340 or 39 cents year

Inc. 4 weeks ended

July 15 sales $1,869,714 vs. $1,813,714 year ago, up 3.1 per cent; 28 weeks sales $13,041,363 vs. $12,768,888 year ago, up 2.1 per cent.

June quarter net

profit $172,759 vs. net loss $2,495 year ago; 6 months net profit $563,687 equal to 1 cent a common share vs. $85,828 or $2.26 a share on $6 first preferred year ago.

against. In 1937, the N. A. M. survey showed factory workers voting 429 per cent in favor, and 40.7 per cent against.

Chicago Stocks

Tash

U. S. RESERVE BANK

INVESTMENTS GAIN

‘WASHINGTON, July 31 (U. P).

t Corp Md fig west. Pwr a .

2%! ing

See Final Edition © of the Times

Closing Stock Quotations

—Total loans and investments of Federal . Reserve member banks -in 101 leading cities rose two million 2 | dollars to $22,025,000,000 in the week

Yslended July 19, according to the

weekly ‘condition statement issued by the system today. The report showed that member bank investments increased 17 million dollars in the week, while lendIn assets of the reporting institutions declined 15 million dollars. | Loans to brokers and dealers dropped 24 million dollars at New York City banks and 29 million dollars at all reporting centers, but commercial, industrial and agricultural loans increased six million|g,

million-dollar decline at New York million dollars for the week, with

dollars at all banks, despite a four- can City. - Loans to banks were up 13|Belgi

{|the New York member banks ac- ; © 11 million dollars of 5

the same for the past two years, in spite of increases in building costs, the report shows, but rents display the greatest rise from 1933 of any item in the family BudgelmappIOR mately one-third. Clothing prices, like food, are back at 1934 levels; clothing has shown a comparatively small rise from the depths of 1933.

Private Employment Up

A typical family receiving. $120 a month in 1933 and spending $120 to live at 1933 average price levels, had to spend $143.07 at the October, 1937, price peak to maintain the same standard of living which $120 would maintain in 1933. By June, 1939, this figure had subsided to $135. 43. Meanwhile the family has seen its $120 monthly pay check, based on averages of industrial pay rolls covering: over 14 million employees, climb to a peak of $148.92 in August, 1937; drop to a subsequent low of $137. 35 in January, 1938, and climb in the past i8 fonins back to $144.26 for June, Not only has average pay check per worker increased; from a consensus of various estimates, the study observes that over a million more employees are actually on private pay rolls than at this time last year, with the building and automobile industries as major contributors to re-employment. : The other side of the urban worker’s favorable food budget picture, however; is that the farmer is receiving 1934 price levels for his produce, the analysis points out.

Business at a Glance

Outboard Marine & Manutactaring Co. and subsidiary June quarter net profit $727,791 equal to $2.45 a share vs. $465,380 or $1.59 year ago. Petroleum Corp. of America June 30 net asset value $10.78 a share vs. $11.45 March 31 and $15.43 year ago. Public Service Co. of Indiana 6 months ended June 30 net income $715,265 vs. $350,717 year ago. Scott Paper Co. 6 months ended July 1 net profit $795,080 equal to $1.16 a common share vs. $743,628 or $1.30 year ago; quarter ended July 1 net profit $472,346 equal to 70 cents a common share vs. $387,213 or 68 cents year ago. : Tide Water Associated Oil Co. 6 months ended June 30 net earnings equal to 19 cents a common share vs. 76 cents year ago; June quarter |E

earnings equal to 8 cents a common |G

share ‘vs. 34 cents year ago.

FURNAS ICE CREAM co.

MILK PURCHASES 'UP|f

The Furnas Ice Cream Co. pur-|phfi

chased 10,277,984 pounds of milk in the first six months of 1939, C. J.|g Hill, manager, reported today. This compares with a total of 10,235,360 pounds in the first half of 1938. The milk was purchased from 230 farms in ¥sancock, Rush and Shelby Counties and from Indianapolis milk distributors who made purchases in Marion and surrounding counties.

FOREIGN EXCHANGE

NEW YORK, July 31 (U. P.).—Following are noon cable rates on major re

rencies Cable Rates

84.08 3-16 «4.01 7-16

mar oR > mk adi

Bon ; Hy Germa any Foil witzes] T Sweden

| Loan issues advanced 2-32

Business Activi ty. ne nding i

Indiana University Bureau of Business Research

. oh

1934 1935 1936 Farm Prices

L193 1932 1933

1937 1938 1939 1931 1932 1933

1934 1935 1938 Coal Output

1937 °

: She ne

1930 1938 1936

Bank Debits

STOCKS DECLINE AFTER RALLYING

2 Held Due to Lack

Of Demand in Early Dealings.

NEW YORK, July 31 (U. P).— Prices turned down in afternoon trading on the Stock Exchange today. During the morning they had

s |rallied from an irregular opening.

As the list turned into the fourth

Ld hour losses ranging to more than a

point were in majority. A few is-

s|sues held gains. Loft, most active issue on the board, was up a point.

at 19%. Small advances were held by Macy, Woolworth and a few oth-

18 ers.

Best & Co. declined more than a point to new low’ ground for \e year. Douglas Aircraft.lost a point

J to 69%. Chrysler was at 81%, off

2; U. S. Steel 513%, off 1%; Montgomery Ward 52%, off 7%; Santa Fe 28%, off 5%; Kennecott 36%, off 3; Consolidated Edison 321, .off %,

®) and Standard of New Jersey 41%,

off 7%. Much of the selling was ascribed

%|to disappointment over failure of

the first hour rally to attract new demand. The market still is considered in a delicate position but experts feeel it has resisted pressure well and, given the proper incentive, can rise easily. : Firmness in U. S. Government obligations contrasted with an otherwise narrowly irregular and quiet bond market. The treasury group ranged to 5-32 point higher. Home Owners’ oint. High grade corporates were steady. Curb stocks were mixed in quiet dealings. Most price changes were fractional. Bell Aircraft was under pressure and eased 2 points while United Light & Power preferred dropped a point. Wright & Hargraves, Rustless Iron & Steel, American Gas & Electric and Breeze Corp. declined fractionally.

STATE LOAN GROUPS AID 7230 IN 1939 5

‘WASHINGTON, July 31 (U. P.)— Indiana’s 128 insured savings and loan - associations made 7230 loans on homes for a total of -$10,214,000 in the first six months of 1939, Nu-

‘gent Fallon, Federal Savings and

Loan Insurance Corp. general manager, reported today.

associations to July 1 were $88,707,000. The 105,058 investors have total savings of. $89,171,000, an increase of $5,723,000, the report said. In June, $1,311,499 in new savings were placed in the Indiana associations. Such savings are protected up to $5000 by the Federal Insurance Corp. Indiana insured associations, operating under both State and Federal charters, have total assets of $119,-

1 837,000, a rise of $4,208,000 since

Jan. 1.

REORGANIZATION PLAN FOR POSTAL IS AIDED

NEW YORK, July 31 (U. P.).— The Lehman-Stewart Plan for reorganization of Postal Telegraph & Cable Corp. took another step toward culmination today when the Public Service Commission here consented to the transfer of stocks of three cable companies to the newly created corporations. Granting of the consent now insures fulfillment, of contracts between International Telephone & Telegraph Corp. and postal bondholders’ committees before these agreements expire on Aug. 3.

DAILY PRICE INDEX

NEW YORK, July 31 (U. P).— Dun & Bradstreet’s daily weighted price index of 30 basic commodities, compiled for United Press (1930-32 average equals 100): Friday oe sanisenseissvencesessI027] Week ago Cassese sassnseesss ese +30140 Month ago ceesserease.10491 1939 high (May 26) ..%cce.....108.02 1939 low (July 24) .cccoe.....101.40

Curb Stocks ATE N Gas A. Be Wr un chee Blt Air: on

Blue ves San Ms MarSoni HN

Frughaut Trail. Ld ¥0i8, 134

» oN

PSR NE SE oS

Tey DO Ti TOO ds 3

FE FRESE RE

SEER RES

Gen A Hear Inoue Nes Amer, 70

Monat nt Ward A. 188% Nat Le 5 a Niag HP vr ot. git Am L&P.. 1

J DN RRS ID. EO a 8-3

RAAT Maat

Sen oo

h Pitts Pl Gi... Std Oil Neb... 1 REE n Lt&Pw- A. Wright Harg ..

Heavy breed I hens 12¢; Leg horn hens, So Barred and Wh agers: ae] and over, 225 a oF serin 2Ya f.eghorn brotlers, = bs. ond 1 re chickens, 2 lbs. and over, 13¢; old Foosters, 6c.

’ - BI LOCI "O04 BOE Vibe 00 pt OR Fand

3 HHH +H +

Senses

each full case must weigh 1bs. floss net deduction or 15 gents for each full es under 55 lbs. made. Buble No. 1, mganiie: i No. a 25@25%c; No. 18c.

butterfat—! (Prices quoted ‘by Wadley Co.)

Bookbinding

Law Book Binding a Specialty

Johns-Butterworth Co.

190 5 Meal Law mogger

Total home mortgage loans of the he

No. 1 strictly fresh Sonizy rin eggs, 1 Ie!

New Chief

1938

R. L. Williams, former executive vice president of the Chicago & Eastern Illinois Railroad, has been named ¢hief executive officer of the Chicago & Northwestern Railroad to succeed. Fred Sargent. A railroadman for 35 years, Mr. Williams started as a messenger in 1904 and rose through the ranks to his present position.

HOGS DROP 10 CENTS AT LOCAL MARKET

Hog prices declined 10 cents at Indiangpolis today after early. indecision, according to the Agricultural Marketing Service, Sellers had attempted to hold the prices to last Saturday’s level. The top price slid to $6.75 on 200 to 210-pound offerings.

lower with a top price of $9.50. Spring lambs held steady at a $9 top.

CHICAGO LIVESTOCK

ogs—Receipts, 12,000; market, uneven ne y 1S 15¢ lower than Rau i: bul

“Cattle — Setoipis. 13,000; calves, 1500; good and choice grades fed steers and ii s, steady; yearlings and light catde Set ing best action; common and megrades, weak; supply such kinds Bhai ® Tait 1oeder. Gealers active on ever hing Showing re Jageriony merit and seli ng at $9 down; ed steers early $10; several loads with kg [email protected]; numerous loads light steers and light fed heifers having sold at [email protected]; cows very scarce, but market dull; practical Sop sausage buils, $7.25; vealers, $9.50@10. common and medium ade steers, both

p—Receipts, 30 idshos. "sass: : to 25c¢

68; patives, 1d above $8.8

me to goo gs. $7.25; Robe a ter ewes stead at [email protected]. B y

REPORT SAYS NAZI%: RESOURCES STRAINED

WASHINGTON, July 31 (U. P.).— The Commerce Department reported today cumulative evidence of in-

loge merely” gong ode KJ [email protected] 50 py

nomic resources.

further increase in production is

mal conditions. Severe shortage of skilled Jaborers| So has extended to Austria and the Sudetenland, the Department’s advices said. Some 40,000 workers have been brought in from Bohemia, Moravia and Slovakia. As a result of the shortage of agri-| - cultural labor, summer terms at German ° universities and colleges have been shortened by two weeks to release 25,000 students for harvest work. The Department said food and materials shortage in the Reich may

construction program. It said that a recent decree of the Reich Price Commissioner indicated a reduction

wages.

STEEL MILL OUTPUT

Steel mills of the nation will opercapacity, a decline of 1.3 points or

Steel Institute reported today. The decline from last week’s 60.6 per cent rate, the highest since the

Independence Day Holiday. Operations a month ago were at 385

per cent. Most trade quarters had anticipating a small gain for this week's operations in view of indi-

schedules. ever, that continuance of the General Motors strike had acted as a damper and caused some lowering of previously estimated rates in the areas which sell large amounts of automobile steels.

ATRL

WOODSTOCK

LATE SALES CUT PRICES IN WHEAT

'|lated an early advance.

" Vealers were weak to 50 cents

| July weesssss.$ .5 oa .

native and southwest. ot. SeTing at [email protected]. | Ango

3 Voaos tay

creasing strain on Germany’s eco- Gro

Quoting the Reich's Kredit Ge-|% sellschaft, the Department said any|gy,

possible only through temporary nor- |

necessitate curtailment of the vast|$

of building wages is contemplated to 2 induce a return.to agriculture of |i}! some men lured into towns by higher N Ind Pub hs

T0 DROP 1.3 PONTS i :

c NEW YORK, July 31 (U. P.)—I{ ate this week at 59.3 .-per cent of |i 2.1 per cent, the American Iron & |g

Nov. 28 week last year, was the first | i; |since the week beginning July 3 when operations were cut by the Seymou per cent and a year ago at 39.8]

been |r

cations that many of the leading i steel sectors expected to step up{ It was believed, how- |}

1934 1935 1938 1937 1938 1939 $0 Newspaper Ads

Liquidation Attributed to Commission Houses And Hedges.

.CHICAGO, July 31 (U. P.).—Late selling in sympathy with Winnipeg turned wheat prices downward on the Chicago Board of Trade today, after crop damage fears had stimu-

At the close wheat was unchanged to off 5; cent, September 657%, corn

42%, and oats were unchanged to %. cent higher, September 28 cents bid. Commission House selling in. addition to some hedging pressure erased gains of 2 cent in the latter part of the session. Early buying was encouraged by a strong Liverpool. market and by reports: of scorching temperatures in the Canadian spring wheat belt. Winnipeg wheat opened almost a cent higher, but heavy offerings erased most of the gains. Export business of about 500,000 bushels of Manitobas was reported. Liverpool wheat closed 12 cent to 1% cents higher. Liquidation of July contracts depressed that future in both the English and Canadian markets. It was feared that considerable damage had occurred to spring wheat in Southern . Alberta - where temperatures ranged around 100 degrees over the week-end. Warm

domestic Northwest. Corn prices followed an irregular trend, light country offerihgs and small local receipts had a: constructive influence, but commission houses and professional interests were on the selling side.

WAGON WHEAT Indianapolis grain elevators are payin for No. Pred d, oc: other grades Ay ine a corn, new No. 2 yellow, 45¢c. ats,

' LIVERPOOL WHEAT . Prev. ds High Low Close Close $ 50% $ 51 53% 561% 36 58%, .58

sreneen ius B67 59%,

scsssse

March sssesee

Corn and Wheat Region Official Weather

=July 31, 1958 ecipi- State of

Stations High Low oy weather © os.. 61 .00

QQaQNa00Q00aQn ®

Terre Haute ... Evansville .

U. S. STATEMENT

WASHINGTON, July 31 (U. P.).—Government expenses and current fiscal year through ye 28, comared with a year 2

This Yea bo a Ss ..$ 753, 577. 445.76 $ Yao, 109,084.05 273.270.009.96 - 282,909,343.08

3 140.2 ' 20,959,

Customs .. 23,415,016.11

INDIANAPOLIS CLEARING HOUSE

Se RE

For the Month ings. . 90,568,000 Glearings. Xara Pet Tgusens) $139:255.000

LOCAL ISSUES

" The {ololwing Susistions by the Indianapolis ao, do not represent price oferings, but merely in aes P PProximate market level based on buying and selling quotations of recent transactions.

Stocks Auto Invest Co

Belt RR & Stock Yds com. Belt RR & Stock 52 pid . 8

was up % to off % cent, September |

weather was also reported in the| 7:

31, 199. 313: 97 7,062,340.97 |

. TONIGHT a 6:00—Al Pearce, WIRE. 2 - 6:30—Margare aret Speaks, WIRE. 7:00—Hollywood, WFBM. 7 :30—Guy Lombardo, WFBAL 8:30—Blondie, WFBM.

Heywood Broun, A American Newspaper Guild president and Indianapolis Times columnist, will introduce Elmer Andrews, Wage-Hour Administrator, at 4:15 p. m. today, NBC-WMAQ. Mr. tows will speak on “Labor, It’s. Your Law.” 8 8

Joe Emerson's. Hymns of ~All Churches celebrates the completion of its fifth year on the air with a special series of programs this week. They will be identical to the first week of broadcasts when.the program was carried alone on WLW. It hits the air at 12:45 p. m. tomorrow, NBC-WIRE. . and the Gang play their last program of the season at 6 o'clock, NBC-WIRE. The title of their offering is “Winter in Midsummer, » which is slightly refreshing. So far they haven’t connected for a fall reopening ... . Blondie appears again at 8:30, .CBS-WFBM, with . further complications about a “refrigerator » EJ »

. INDIANAPOLIS: WFBM 1230 (CBS Net.) Troubadors Tea, Topics _ Judith Arlen

WPA Program Jordan Cons.

News - Music :

Yaanneugesq Ma Perkins ick ed

Di Varieties Lone Ranger ”» ” : Buck Rogers Dick Reed

STULL | iim 6h in

ose ge as

" Al Pearce

FBI Cases D’Artega’s Or. Hollywond : Lombardo’s or.

Dr. .1. O. ” 9”

Pot of Gold ” ”

‘| cago, °

. Al Pearce

ON THE RADIO *

and a used automobile and not enough money to go around’... The

Chicago Symphony Orchestra,”

directed by its associate conductor, i%

Hans Lange, will play a half-hour

Korsakrov’s “Capriccio Espagnol.” on

‘A Syracuse, N. Y,, radio retailer - turns harpist, his avocation, on the Magic Key at 6:30, NBC-WENR. His name is: Melville Clark, he is in New

| York for the Music. Merchants As- £ :

sociation convention and he will be accompanied by his wife on the * novachord. Others on the program include Helen Jepson, - the Victor - Concert .Orchestra: and Col.: Lem-_. uel Q. Stoopnagle.... Dr. Roy Chapman Andrews will “tell about his invasion of a Buddhist Temple-. on the Order of Adventure at 6, RBC-WCFL. A foreign correspond-{ ent who escaped execution in Spain

‘and a woman who clung for hours to =

a bridge during a flood will tell their stories. This program has been difficult to write because the adven- - turer. is usually alone when the ad-: venture omes. Dramatization : therefore.

Margaret Speaks

venturer has no one to talk to. 2 » #

: . a : THIS EVENING ; (The Indianapolis Times 1s not responsible jon Jnasetracies in program announcements caused by station changes after press time.) ad

INDIANAPOLIS . WIRE 1400 (NBC Net.)

CINCINNATI (NBC-MBS) Shank’s Or. Invitation Malcolm Claife Vaughn deLeath Swingtime Vincent Gomez Sports Lowell Thomas ? Divorce ,Orphans Poker &y Denton

a Tnstramentalists Mau «Or. Science on March Toside” Sports

News Al Pearce ” ”

Sports . Magic Key Margaret Speaks

WLS- WENR 870 {NBC Net.)

” ”» oo» ” - Forum ”

Am. Parade ” ” Heidt’s Or. ” ”

This. Is Radio ” ”»

Blondie Sensations ”» ”» ” ”

Pleasure Time ' Baseball

ick Reed Miller's Or.

Amos & Andy ‘N. E. C. Prog. Minstrels

News Musi¢ in Night W * Or. Hawkins) or.

” ” Cabot's Or. "H. Kaye's Or.

Recordines. ” ” -9” ”»

News

5353 L303 nan nubs | ans | 2un3 | 5BES| £858

Hee 9902 | 9000 | BVM | arnt | DDAD

fr fd fh ud | fd ph fuk ud |

INDIANAPOLIS WFBM 1230 (CRS Net.)

Early Birds ‘ Devotions

Markets Tunes & ” : ”» News

” ” ” ”

”» & Tips

»,

” ,9” »”

Kitt RitY X Ray

ar Hilltop aa ‘epmother

Other Wife Plain ‘Bill

Contented Hour

T. Dorsey’s Or. » ” 5 x

Man I married

Woman in White

True or_ False : ”» »” Sensations

True or False Chi, Symphony

News Fleasuse Time Claridge’s Or. This Is Fair : ,or. Buckeye Lake or, -

Miller's or

Peter Grant Strong’s Or.

’ al . Herth’s Trio Salgle , Shelly’s Or. Felton’s Or.

Marsico’s Or. Moon River 9” ” ”. »

TUESDAY PROGRAMS INDIANAPOLIS WIRE 1400 (NBC Net.)

CINCINNATI - WLW_ 700 (NBC-MBS)

Prayer 2 Praise Reutucky Girls Revel Pion

Brepifest Jam Today’s | Music

INDIANAPOLIS WIBC 1050

Time hs Shine -News Gospel Singer Caravan Coffes Cups. Man I Married aul Allison

Pasaion’ "Footiignt @ or, inalities Devoti Unannounced

Mary Taylor David Harum Scattergood Big Sister

Life Stories

Girl Interne ‘Girl Marries Farrell's Kitchen

Ww Road of Life

Paste Jimmie Dessa

inda’s Love

Singin’ Sam Dr, Malone Farm Hour Markets

Betty &

Echoes , : Farm Circle

Farm Bureau

A: Bohemians Tune Time

Not Long Ago Story of Song

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Kitty Keene Becker's .Or. orin Sisters dria.

Baron Elliott Minstrels : allas Rhythm: - Exploring

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Grimm’s Daughter Music y Church Hymns WIRE Reporter

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Rollini

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Friendly House

State Police Castletime ” ”

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School for Brides Golden Store Boy Greets Girl New

Ramblers Betty & Bob Tim's Daughter aliant Lady Church Hymns .

Mary Marlin

* Road of Life . Editor’s Daughter The O’Neil , News" Farm Hour

Jones Sleepy Hollow

M Forde Grofe Pon Perkins and Box per §Youn Shut-in Friends pT Ligh Pianorama Club Matinee

Want a Job? Concert Hour Beautiful Life ei » Midstream :

Poultry Cong. Day Is Ou Morin Sisters Woman Speaks

Castletime

Honolulu

Troubaders Tea, Topics

Judith Arlen

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. KEY NETWORK STATIONS (Subject to change): MUTUAL--WOR, 710; WHK, 1390; WHKC, 640; CKLW, 103v; WSM, 850, NBC-BLUE—WJZ, 760; WOWO, 1160; WLS-WENR, 870; KWK, 1350. NBC-RED—WEAF, 660; WTAM, 1070; WWJ, 920; WMAQ, 670. CBS—WABGC, 860; WIR, 750; WHAS, 820; KMOX. 1090; WBBM, 770.

OTHER Lyevoce

FT. WAYNE, Ind., July 31 (U. Hogs—Market, o Steady; 2 2 0-520 Bs. 180-200 Ibs. i 0-1¢

receipts for the|240 1

, lbs., $5.90; 8 dio. lbs, $5.15 roughs, $3.75; ‘stags, $2.75. Calves, $9.50. Lambs, $8.

Do Things Look Fuzzy?

T the first hint of a defect in your vision, come in and have Dr Fahrbach examine your eyes. Delay may aggravate your‘trouble. If you need glasses you can get them now. .. and PAY A LITTLE EACH WEEK.

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(By M. P. Crist & Co.)

Market®St. Investment Corp... 22.19 22.41

INDIANA TRUST co.

Allied With ' ~The. Merchants National Bank

‘Make ON ANYTHING

‘SACKS BROS.

806-10 INDIANA A

ICE AND FUEL CO.

EVERY SIZE - EVERY KIND

= COAL

32 TY

"USE YOUR CREDIT

GLASSES FITTED

Registered Optometrist—Office at

MTEL hd 1k 137 W. Wash. St.

For reservations, tion, ete. e IX AD Arent. ‘20 Morin Meridian. St.. Phone Riley Ask shout ow rowd:ip fares and ™ ce :

ond. economy. of your car.

informay :

City

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NORTHERN MICHIGAN

: NORTHERN MICHIGAN—the ideal - Summer Vacationland. Nocity heat, dirt and noise . ... a region set aside - for sparkling activities by day and deep restful sleep at night. The air-conditioned Northern Arrow provides the finest and fast‘est service to the famous Northern Michigan resorts. ‘Daily service throughout the season fo Petoskey, Bay View, Harbor Springs and Wegquetonsing. Car fo car connections In same frain to Mackinac Island, Traverse

and other Michigan resorts. Leave

indianapolis 4:38 P.M.

RAILROAD

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