Indianapolis Times, Indianapolis, Marion County, 23 October 1939 — Page 11

: SAG IN STEELS

Bl BRINGS DECLINE | IN STOCKS LIST

unexpected” in view of the hard use to. which plants had been subjected. A minor shutdown for repairs, they asserted, would bring the recession. The only other feature in third hour trading was announcement that Sears-Roebuck directors had voted’ an extra dividend of $1.25 a share. The stock made a small adTapes to a new high for the year at

Leadership Shifts

Earlier the market had shifted leadership from the aviation and truck groups to utilities. The latter ‘held part of early advances. : Most leading issues registered small declines as the list turned into the fourth hour, and volume was small. : Security prices were irregularly higher on the Chicago Stock .Exchange in quiet dealings. Central Illinois Public Service preferred featured the upside with a $1 gain while Jefferson Electric had a similar loss. An advance extending to 3 points in foreign obligations featured a firm bond market. U. S. Governments and domestic corporate issues moved moderately higher in quiet turnover. Speculative buying, based on the southwestern drought and European

MONDAY, OCT. 23, 1939

THE INDIANAPOLIS

mmf High Low Last change teel .... 54 54 54 +1 I Ns ns En Teh — Tn Alle; 1 1 cess

25% 2/% — Allegh Lud Stl. 23% 23% 188° —1 | High 1989, 155.92; low, 121.44. * Allied Mills i 13% 13% B% : 3 High 1938, 158.41; low, 98.95. e ores .. 4 4 a : - Sh Am Air Lines... 37% 37% 31 Ys . 20 RAILROADS Wheat - Advances - Slightly, [42 umes 202 302 it © 31,0, ha ‘ . . m Car . -_— eessccssescsacsnsne » . i . Am eo. Cay, at, 2% — Ya|Week 880 ...cccccecrscco.s 38.43 —0.10 | Corn Dips al Chicago; Am Ma & Fdy. 13% 13% 13% — JA|Month 8g0 v..covececoescce. 38.81 0.47 Silk Fut u m Metal ..... 28% 384 2% + 1 retin RAN EY 31.78 +0.14 J I utures up. Am Pa L 6 of 2. 81 8 Y| High 1989, 35.90; low, 2. Am Ee Sin By, Nu 23% = Tn Hen 19s, 33.55; lov, 19.8, : By UNITED PRESS Am Safe Hator. 11 ji% 1% Yow 15 UTILITIES Steel shares sagged and unset- Am SAC prli141 141 - 141)... |SAturday .c.eecceeesecence. 26.05 +0.16 tled the stock market in afternoon |Am SU Fdies -- 38, Iu 9, = %|Week ago ......coniene.. 25.38 +0.03 trading today when the nation's AR 5.5, Meh WE sii TU{Fenh are oo BO lon steel operating rate dipped a trifle|Am Zinc ...... 8% 8% 8% — %| High 1989, 27.10; low, 20.7L pre i 33% 33% 3306... | High 1988, 25.19; low, 15.14. after a prolonged rise, Arnold Const ,. 10 Ye 10% 10% Ha : chison ...... = United . S.ates Steel eased to Atl Re nin ore 24% 3% 24% + 3 Net $76.87%, off 75 cents, and Bethle-|Aviation orp . 6% 6% 6% ...o |. High Low Last change hem, after holding a small advance, —B— Nat Diilers.. 3i% 23u IM iy declined to a minor loss. Experts|Bald Loco st... 304 30% 304% ---» Newport nd" 1344 To, 13 = 7 pf i eee Y Central... 2 a1 21% — said the dip in operations amount-|Bangor,& Ar | 148 08 Br =n No Amer _.... aie 3 a + i ing to only one-tenth point was not|Barnsdall ..... Ja NO Pacific... 11% 11% 11% ....

Bayuk Cig .... 25% 25% 25% —-%

war conditions, sent wheat slightly |Sons ©

Bendix Avn .... 30 302 30% .... Beth Steel ..... 91% 913% 91 + % Beth Steel 5 pf. 17% 171% 17 -— 1 Bigelow San . . 302 30% 30%2 + ¥2 Blaw-Knox ... 14 14 14 + Ys Joeing Air .. . 20% 29% 3% + Ya Borden _..... ee. 21Y2 A: 21% ..... 3dgept Brass .. 14Ve - 14% 14% + Y% 3riggs Jaig L... 25s 25% 25% + Ye klyn-M T . .. 12% 12 12% .... Bkiyn-M T pf.. 42% 42% 424 — Je Bruns-Balke .- 212 He HZ I & Burlington . 2 2 Butler’ Bros 7’ In ™% x + Ya utte Cop . i wey Byers. AM .. . 13% 13% 13 + Y% Byron Jackson. 16%s 16% tet + Ya J | cal Packing ... 252 25%2 25% — ¥ Callahan Zinc . 2% 2Ys 2% — us Calument & H . & 8% 8a + Can Pacific _... b 572 30 Cees Caterpillar T 602 60'2 lo = 1%

. 60 1 Celanese ....... 27% 27% 2% + Ya Celanese pf ....104 Celote é

Ce TY —Re— 1 1, 432 een Ches & Ohio . 43% {pia RAA10 ........ 6% 6 6% .... en d % iy, |BemeRana ll 0, 30, ¥, 18 1 Va 2 -Ran cess 2 2 8 Cni Yel cab ... 85 (82 87% © J|Reo Mot oll 1% 1% lm... City Stores .... _4 4: 4° + 1p|Republic Stl .. 27% 27%. 27% .... Clar q .... . 34% 342 34V2 + i, |Repub Stl pf.. 91 91 91 “ree Cleve Graph Br 34% 34% 34 7+ Ya |Revere 5% pf. 50 50 + ¥% Climax Moly Co. 47 47 41 + Ys|Reyn Me . 10% 10% 10% .... Cluett Peab ... 35 35 35 — %|Reyn Tob B... 37% 37% 31% ... Ce el & Iron 23% 23% 28% + Ya|Ruberold ..... 20% 20% 20% + Ya Colu as .... 1% Ts © 9 — Ys —— Col Gas pf A.. 82 82 82 .... |Safeway ......48%2 48a 48: + WU Col Pictures vtc 7% 7 — ¥8|St Jos Lea 421, 421, 42%, 4+ Va Col Pictures pf. 18% 182 18% — 32|Sears Roebuck 87 813, 81% — VY, Col Carbon—... 91%2 91% 91%2 — 1% |Servel Inc ... 16 157% 16. + Ya Com Inv Tr .. 53% 53% 53% + Ys|Shattuck ... TM Th Ve + Ya Comwlth Edison 30% 30% 30% .... |Simmons ..... 3% 23% 23% .... Comwlth & So . 1% 115 1%2 +4 3 |Socony-Vacuum 14 ‘137 14 JR Gomwlith So pf. 69% 60% 69% + Ya|South Pac .... 17%2 172 1772 — Ya ons Aircraft .. 2 29% 29% + Ya|South Ry . 202 20% © 202 — 7 Cons Edison .. 30% 30% 30% + 3% |South Ry of 34% 34% 34% + Cons Oil ..... . 8% 8 8% ... pencer K -.... 21%, 21% 2V + % Cont Can ..... 48% 48% 48%: + % | Sperry Corp .. 503 50 50% + 3% Cont Ins ...... 37 31 37 4 Yi|Spicer Mfg .... 302 30% 30% + Ya Conit Mot ..... 3% 3% 3% ...e picer pf ...... 49% 49% 49% + 12 il Del .. 28% 287% ns 4 "15 Spiegel Ing .... 113% 11% 11Ya — %

4 . i ¢ Co 'lllllo8v 26% 26% + Y higher on the Chicago Board Of Eos hii 50' 30° 30 + % Trade. Crown Fork . 1% a Roa coo Wha ss Sire SER R B, Ba TY . u m Sug pl. 4 4 At the end of the first hour wheat|Gurtiss Wr... 8% _8

was unchanged to % cent higher, corn was % @ % cent lower, and oats were unchanged to off %& cent. Purchasing by mills added to the firm undertone of wheat. Rallies were checked, however, by a lagging tendency at Winnipeg and failure of the stock market to show aggressive action, | Raw silk futures advanced sharply to the best levels in more than nine years, countering an otherwise irregularly lower trend in major commodity markets. - Sugar futures weakened under a persistent. liquidating movement, principally by commission houses. Cotton was little changed and rubber gave up part of an opening 15 to 25-point advance. Wool tops gained 6 to 10 points but coffee, hides and cottonseed oil declined.

TRADE NEWS

. PITTSBURGH, Oct. 23 (U. P).—|& Plans of Carnegie-Illinois Steel Corp. | 3

to construct a huge power plant to supply its Monongahela Valley units were revealed today with announce-

ment that a New York engineering ‘firm has been engaged to design and supervise construction. According to tentative plans, a 32-000-kilowatt power plant will be built at the steel firm’s Carrie blast furnaces in Rankin to supplement the existing 25-cycle power lines already supplying its plants in the valley.

Steel Bookings Up

CLEVELAND, Oct. 23 (U. P).— Forward bookings in the steel industry for the first quarter of 1940 are more active, apparently on the belief price advances will be smaller than had been expected, the magazine Steel said today. “Steel producers see no letup in pressure from customers for deliv-

ery,” the authority continued, “and | M

additional orders rapidly are filling what little available capacity remains on fourth quarter schedules.”

Expect Cotton Rise

NEW YORK, Oct. 23 (U. P.).— Some quarters of the cotton trade feel that aggressive demand cannot pe stimulated until more decisive constructive news develops both abroad and at home.

It is believed that until the South |

becomes a more willing seller, increasing the supply of contracts, the market will more easily advance than decline, : :

Rail Orders Gain

WASHINGTON, Oct. 23 (U. P.).— Class I railroads in the United States put into service or ordered 27,757 new {freight cars in the first 9 months of this year, compared with 16,749 in the corresponding 1938 period and with 80,652 in the same nine months of 1937, the Association of American Railroads reported today. The association pointed out that 14,704 cars of the 1939 total have been installed since Jan. 1, while 23,053 were on order Oct. 1.

Display Ads Down

CHICAGO, Oct. 23 (U. P.).—Dis-

play. advertising placed by retailers in 79 important cities declined 478,165 lines, or 2.2 per cent, from last year during the week ended Oct. 14, it was reported today by Advertising Age, national advertising news-

Tr. Petal volume during the week was 21,262,233 lines, compared with 21,«

740,398 lines in the corresponding

1938 week.

See Final Edition of the Times for Closing Stock Quotations and Other Late News

- \ F i LL

Curtiss Wr A... 28% 28% 28% + 3% Cutler Ham ... 23 23 23 —

Hayes BAY .... 4Ya 4% 4 Ye Hecker. Prod.. 111 11% 1% + % Herc Mot ...... 162 16%2 16%2 + % Romasfake vees 53 3 53 .

. 6 oe Hupp Motor ... 1% 1% 1%s .. Ind Rayon .... 28 28 Inspiratn Cop.. 17% 11% 17% chem Interlake Ir ... 15% 15% 151;

Laclede G pt. 18% 18% 18% Leh V Coal.... 2 1% L-O-F Glass .. 543 Loew's 339

rexas Corp .... 47% 47% 471% + — : roxas Gulf Prod 4% 4% 4% -...Y Deere & CO .... 35 25 25 seco rex G Sul .... 36%, 38612 362 + Deol '& HUQ oe. 26 26 26 .... |Thermoid ...... Y. 4% 4% + Ya De: Edis or 12. 12. 2 1, Fhompson, Pr ee 31% 3 2 31% i 2 v ceae 4 — a m X oe a Dist Seag ..... 15% 15% 15% + Va|Trans West Air 10% 10% 10% .... Dist Sea pf... 81 61 1... |30thCotToxwtls HB Hr T 3 1e ortex . — n . / 2 3 Dixie Vortex A- 33, 331. 231% — 1.|Und Eil Fish... 43% 43% 43% — 7% Douglas Air ... 83% 82% 83% -+ '|Union B&P %e 11% 11% — 3% Du Pont ......182 182 182 ' — ¥,!Union. Carb . 90 90 + VY Em Un Oil Cal . i 17% Ar acCIfiC ..... jd . East Air Lines. 22% 23% 22% + %|Un Tank ...... 23% 3% Bh — % Eaton Mfg .... 28% 28% 28% + %a|Un Aircraft Cp. 4 47 1 + % Eitingon h... 1% 1% 1% coco n Air Lines .. 12 11% 12 + 1 Bee Auto-L .. 39 39 3 — Y4|United Corp .. 2 2% 2% + 4 ER WE LI EE I RE Elec Bwr & Lt 3c seve sou + w|onted Trad ci 93% 137 13m 7 EBLE Ly pie Be Re LM PnMer he Bn Nn Bn Tou eee n Paper . ng Pub S 11% 11% 11% + ¥%|U 8 Pipe & P.. 38% 3 4 38%, + ba - “0 ecccee (3 8 ee oe a 8 a = 8 Fee Teme Fed Mot oc... 5% 5% 5% + Y%|VaIC & Ck... 4% 4% 4% eo Flintkote ..... 21% 21% 321% + % MB He on : 0 3 “ Walworth ‘on $% §% $% gree, Gamewell Co... 1352 13, 15 T...”°| Waukesha Mot: 23 23 23 T° Gen Cable ....13% 13% 137% + 3% |W Pa El 7 of. .106%; 1062 106'2. — 7 Gen Electric... 417 417% 417% + Ya|West Auto Sup. 341 244 344 .... Gen G&E A A Ya fa eeee (West Md ...... 5% 5% 5% + Gen Motors ... 54% 547 54% .... [West Union ... 34 34 38° 4 a Gen Rofract .. 38% 38%; 38% ..... [West Air Bke.. 3312 331; 332 — I Gillette SR... "8a 6Ya 6Ys + vp|Westing El ...119% 119% 119% + Zs Gillette S $5 pf 44 44 44 + % Wheel Steel .. 353 35 35 — 3 Lh PL ) White Mot 137 147% 15 + 5 Gimbel Bros .. 10% 10% 10% .... |white Rock ... 4% 4% 4% .... ilidden 20, 30, 2 -..... |willys Overind. 2% 3% 2V — Sobel, Adolf 3% 3% 3% yp | Willy Good ear op 2 28 28 -_ oolwort. cece 407s 407s 40% + 4 Graham-Paige. oh o" Ys cece Tile. SW hago ot] 23% + ” ranby ....... . econ ale ceases & Grand Union... 1 in 1h Ill |Yellow Tr ll 20% 2014 20% — Grant WT .. 34% 34% 3406 — Jb Younz Sheet: Sin NT Hc I 4 gi vei gi Bl BEC - Treen cee 8 8 - Greshound Cp. 17% 17% 17% se. |ZODIte eccceecee 3 3 3 eee

+ nterchem _..... 43Y, 43% 43% + + a

Int Harvester.. 65% 65% 65%. .... Int M Marine.. 10Ys 10% 10% — Ya]; Int Salt _...... 35 35 .

x 35 . Intst D S...... 3% 13% 13% + %

—

Jomes&Igh 7 pz 81 . 81 81 +1 K

Kennecott ,.... 41% 41% 4138 ....

17% 17%

54 cieeene Se 33% 33% 33

N Y. STOCKS

SALUPARY coeececoreccsassess 158.86 0.86 Week 2L0 cccooccocossssscsne 150.84 +-0.46 Month AKO cccoesvvcccscscce 152.64 0.35 YeRY REO cocccevvssasssocss 154.12 <-0.01

80 INDUSTRIALS

Ohio Oil ...... 8% 8Y; 81 == Ye mnibus _ ...... 147, 14 14%, .... Sens 111 ‘Glass 66% 96a 662 — Ya . . —P— pac. Finance... 11% 11% 11% .... Pac. G 1 31 3 cone Pacific is .. 19 19 1 + Ya packard ...... Ye 37 7s aii an A Airways 16 1 16 + % daramt_ Pict .. T 7% T vee > Fim... 10% 10% 10% 1 tino Mines 9% 9%, 9% — Ya DeNNeV ....eo. 192 91 91 . a

denn. RR. ..... 257 25% BE Peoples Gas .. 44 44 .

>feiffer-Brew . (37 6Ys 6s — % Oh

roc : dublic Serv ... 40% 40'2 40% ... Pure Oil ...... 3 9

td O td Oil N J ... 48Ys 48s 48's Ss 99

912 Ya durity Bak ... 15%2 152 15% + Y

td Brands ... 57 5% 5% «eee Cal .... 29% 29% 29% + 3%

w War ..... 9% 9% /a 1% tone & Web .. 13%2 13'2 13'2 .... tudebaker .... 10 9% 978 ecee un Oil ..... .. 60s 60% 60% oc... Superior Oil .. 2% 2% 2% ceoe

High Alum Co Am...136 1 Am Cyan B ... 34} 3 Am Lt & Tr... 15% 15% 153% uper ... 2 Ya Ark N Gas A... 2% 2%, 2% Asso GE& A... % Sg Sg 91%

! 6 Braz T L&P... 1% TY V2

Curb Stocks

Net Low Last Change 35%. 135%, + 2 3° 34% .

1, 1.16

9s +5 — Ys

x + w ER Loft. Inc ...... 18 | 8 eee Lorillard pf ...143%2 143%2 143%2 4 ¥% —M— Mack Tr cceeee 33% 327 832 + 8 Man. Shirt ooo. 15% 15% 15% + % Marine Mid ... 5% 512 2 ioe Marshall Fld .. 16, 16 1 vene artin Gl .... 40% 40 40% + Martin Parry .. 4% 4% 4% + Ya McGraw El ... 21% 21% 21% .... Mead Corp.... 12% 12%: 12%, 4+ VY Melville Sh _.. 62. 62 + Yi engel 1st pf.. 227% 223% 227 + 14 ident Pet .... 16% 18% 16% + Ya Minn-Moline ... 32 312 § FA cone Mo Pacific ... 1% 1%. 1% ii Mohawk Cp... 18%: 198° 191 1 '% Mont ward Bl 50% S85 56% 5 3 1 ns g ve / n UITAY coovece 8% 6% Ya .... . Ne . Nash-Kelv .... 7% 7 1% . + % Nat Aviation... 14 13% 13% .... Nat Biscuit .. 23 23%; 23s — Y Nat Cash Rez . 16% 16% 18% + 7 Nat Dairy .... 18% 15% 15% ....

corn, new No. 3 yellow. 45¢. Oats, 5c.

Monetary Conference Called for Americas

WASHINGTON, Oct. 23 (U. P.).—

The first- meeting of Treasury representatives of the American Re-

publics,” scheduled to convene at

Guatemala City, Nov. 13, will mark the inception of Pan American acer tivity in a field heretofore dealt with incidentally at general conferences, on the basis of discussion among the various republics. The American republics have met many times in commercial confer-

ences, where fiscal and financial topics were relatively secendary to trade promotion efforts. They also co-operated during the World War in financial matters through an inter-American high commission. In general, however, the points of contact between the treasury departments of the republics have been less developed than relations among departments entrusted with com-

merce or, diplomacy.

Under | these circumstances, the Guatemala City conference was originally intended to be in the na-{ “foundation meeting” to sizetch outlines ‘for continuing cooperation, rather than an occasion for immediate specific measures of

ture of

international co-operation. War Changes ‘Situation

fronted |with. urgent proablems re

q mmediate solutions, hE a of

Street and in the Federal Govern-

However, the European war broke out since the agenda was drafted, and it ig possible that the conferees at Guatemala City will be con-

inter-American commerce resulting from the European war, new problems of foreign exchange and credit face most of the American republics. The United States will be represented at the meeting by Under Secretary of Treasury John W. Hanes, an expert in these problems both from experience on Wall

ment. : Observers pointed out that the United States special interest in the new inter-American situation would be relaxation of rigid exchange control exercised by other American countries, to the consequent advantage of United States manufacturers and exporters. Latin American countries, on the other hand, would be interested primarily in any ‘United States move to liberalize credit or extend loans through the Export-Import Bank, or other agency.

Currency Problem Different

rent interest is the future orientation of the currencies of other American countries, some of which have traditionally been’ closer to the pound or even the French franc than to the U. S. dollar. Such financial inclinations are, of course, the result of main lines of

change only as the United States became a relatively larger participant in the trade of the particular

TOP HOG PRICE DECLINES TO $7 IN 10-CENT DIP

Vealers, Sheep Open Week With Steady Prices in Trade Here.

The decline followed 15-cent lower prices established Saturday. Top said price today, quoted on 180 to : pounders, was $7. Vealers and sheep held respective top prices of $11.50 and $10. A few lambs made an extreme

200-

: steady at

BeRlife... 318

Barrows and Gilts and Good and Choice—

- 6.35 - 6.25

bere. Mqt pf... 35% 35% 35% — 4

. PPARN IIIB 3333838853 TW)

Slaughter Cattle & Vealers (Receipts, 1984)

Bulls SSoprings excluded) pike ...$ 6.75 7.25

6.25- 7.00

0 .-$10.50-11.50 n an 8.00-10.50 00

o oS

M%ed750. 10.50-11100 Good— ' 500- 750. 9.25-10.50]

8.50--9.00 8.25- 8.75

a 500- 9 9.00-10.25! Cows 7.50- 9.25/Medium and

Common— ...$ 5.50- 6.25 500- 900. 6.25- 7.00

d Choi 500 down § 9.75-11.00

Good and choice Medium and choice

Ewes (on shorn basis)

Good and choice Common and medium

market slow, Friday's nd choice . butchers, [email protected], [email protected]; acking sows,

. : e most well finished

yearlings weak to 15¢c other clagses Atagdy: t

y . (@W%. Cattle—Receipts, very active on all firm; instances 10@15c higher; early long yearlings $11 some held high 1b. heifers, $1; very few heifers here above supply mainly short fed, $7.50

8{9.50; numerous loads Agni and long year-

=| Chicago Stocks

High w Last 27% 2% 2%

but weighty steers: supply scal0 1b. upward liberal: 44

ight stocker yearlings firm; yearlin t $10.50; little on yy Advance Alum eecocees

stock calves held Asso Invstmnt (sesacnes 1% 1% 1Y,

) : Athey Tr Whi +... .... § 8 above $11: heavy feeders slow: beef cows |Bendix Aviat |......... 30% 30% 30%

: S pf 71 49%; | Cent & sw Ut pi ptiii107 107 107 Ci Corp 7

stock calves account below, $7.25;

higher at $7.35 H lower; mainly

OTHER LIVESTOCK

CINCINNATI, Oct. 23 Salable, 45,000; total, 5175. c lower, top, $7; 225-250 lbs., $6.85 0 lbs., [email protected]; sows steady at

Cattle—Salable, 1800; total, 2300. Calves, |. 600. Sows firm, bulls strong to spots 25¢ higher; truck lots choice steers, 725 Ibs. mixed yearlings,

(U.P) —Hogs— J Unevenly 15@ |;

$5.50 | arid

bulk Medium a < y [email protected]; | 5¢ & In cv pf.. loads fed heifers, $10; common to good fat beef cows mainly [email protected]; canners and | vocdall Ind --- ; bulk sausage bulls, [email protected]; vealers firm; good and choice, fia; doeders aT load choice eeder steers ,25. % e 503, Most good to choice| The following Juotations by the Indian-

trucked-in lambs, sizeable lots|apolis Bond & S

Electrolux Corp. September quar- |Home T&7 ter net profit $204,389 equal to 24|Ind Asso Tel 4%% 65......... ¢ cents a share vs. $301,435 or 24 cents |Ind Tel 5% 60

Westinghouse Air tember quarter consolidated net|Ruhner Packing Co 422% 60. 8, 3 profit $630,249 equal to 20 cents a Morris 5&10 roves 5% 5 zs. 08 7 2

NAMED MORRIS PLAN HEAD

Yrance (franc) ...

Another problem of great cur- Ho a

TIMES

Residential and non-residential building contracts for the first nine months of the year in the Indianapolis metropolitan area rose $1,250,000 each over the corresponding 1938 period, T. E. Toll, Indianapolis manager of Dodge Reports, said today. . Only engineering construction lags behind last year’s record, he said, adding that brilliant performance

Hog prices at the Indianapolis figures are expected for IndianUnion Stockyards started a new week 10 cents lower today, accord-

ing to the Agricultural

apolis by the close of the year.

All contracts awarded for building and engineering construction in the Marketing | Indianapolis metropolitan area dur- : ing the January-through-September period moved to $10,595,000 over last year's corresponding $8,810,000, "he

. The valuations are based entirely upon actual signed contracts for materials and labor, and do not consider permit grants. Dodge Reports point out that the current

1939 Building Contracts - Above ’38 in Indianapolis

total was not equaled until October, 1938.

A review of the nine-months’

period reveals August had the highest contract valuation followed by July and February. The lowest valuation was recorded for January.

The strength of the residential

building activities in the area is illustrated by a comparison of figures for the first nine months of this year and last. Contracts awarded this year amounted to $5,257,000 while those of 1938 were $4,076,000, Mr. Toll said. :

This year’s non-residential con-

tracts amounted to $5,043,000 as compared with $3,746,000 last year. Heavy engineering construction for the utilities and various governmental agencies accounted for $295,000 of the nine months’ total, according to the reports. In 1938 the corresponding contract valuation for this classification was $988,000.

"Bl LocAL 210- 300° 3 6.43 Ti B USI N. ESS

300- 330.. 6. 8 330- 360.. 6.25- 6.40

State Bank, announced today.

Sales Clinic Planned

tion “B’” of Lafayette, dissolution.

Borman, Albert P. Charest. C. &

aie of capital stock. from $10 to Ss

or natural gas, coal, etc. Vigo Chemical Cor;

apoli

to 701 Jefferson Ave., La Porte. ———————————————

LOCAL ISSUES

Brewster Aero.. 8% 8! 8% .... %|strictly choice ewes and whethers and city |sent actual price offerings, but merely Can Marconi ... 1% _ 1% _ 1% .... |butchers, $10: common and medium, $6.50 indicate the approximate market Jevel Colanase 1 ot..10, ne, um, + 2 | @8.50; slaughter ewes mainly $2@3. bageq on usin 2 2nd selling quotations of vee s 8 ie . v Col oxG we 3, 3, ,, + Y| PT. WAYNE, Ind. Oct. 23 (U. P.).— ogs Stocks Bid Ask Copperwia Bi 15% 15% 1 a wy |10@15 cents 1 60;| Auto Invest COrp ........ccs V2 9 A 13s 184 + 70; 1 ibs.. $6.80; 160-|Belt RR & Stks Yds com..... 51 54 reole Pet a 26% 26% + YU dd Drug .. 11 v, 1 24 bs.. $6.50; 260-280 | Belt RR & Stk Yds pf........ 52 os El Bd & Sh... 4 9% 9% + 14 0.1 30:'300-335 lbs | Cent Ind Pow 17 pid. _..... 2 a1 . —_—} . 2 m ayne see OF Glen Alden” 72. a 3. 3. oe % $5.95: 140-630 lbs.. $6 50: 120-140 los. ome y see Si B3y tesenne a 4 4 ’ Heé¢la Min .... 7% 77 4 stags, $4.75; calves Hobie 1 ea 8 i REE er — 109 EES Hn We Hp Tn i : Kingston Pro .. 2% 32k % — 3 BUSINESS AT A GLANCE Lockheed Air." 3 % | 3 % 3 % T i By UNITED PRESS bd oe 44 N Ind Pub Serv 52% vfd.... 86 90 NEED 7 1D Ul onodiog Brookiyn 4 Queens } Bt Rp Sn Ue Ml i Y | 11 Ta ne. A -In u erv pid ..... Naw, 3 For . | ’ 0 " vu 'y, | Transit Corp) September quarter Progress Leundry Co com... 1s In S > erv Co aan ac GE 6 pf... 3 1 3 sif § 1 |net loss $312,563 vs. $328,069 year| Pub Serv Co of Ind 17, ofa .l 84 68 aE Lh hE Ry Rly ©] eo rp 2 13 w $25,772 year ago. Terre Haute, Lo. ovio---eee 2 100 Yew 4 cere | war alle 0 MNesmame Meanceiéd Mawes | Van Camp MIKE CO COIIL...... YnQasConf-ol, Nz ? i; _""y| Brooklyn & Queens Transit Corp. Jn Ca IE SS a 62 65 n wr B. 1% e % .... |September quarter net loss $32,667 Bonds . WAGON WHEAT vs. $147,207 year ago; September |american Loan 5s 51....... ... 97 100 Indianapolis grain elevators are paying|Det profit $8197 vs. net loss $27,146 American Losh oe 16... -- ce 101 for No. 1 red, 8lc; subject to market Crabbe-Reynolds-Taylor 5s 42. 97 100 change; other grades on their merits. Cash I Ft. Wayne 5% 55..10

Home T&T Ft Wayne 6% 43..1

% 101% ndpls_ Railway Inc 5% 6T.... 65 ’ nter T&T 5% 83. es bila : 101 n Ss ater v2 08 «eseees Brake Co. Sep-|ififno Water 5% $8 ........ 9 102

Muncie Water

$8... = share vs. $11,555 or less than a 1|Natl Silk Hosier Mills 5s 42.. 97 100 cent a share year ago.

LINTON TO PRESIDE

NEW YORK, Oct. 21 (U. P.).—|T Haute Water Wks 6% 49 ...102 108 Albert Linton,

Noblesville. HL&P 6}a% 47....100 103

hio Tel CO ... ... ee ivens 103% 105 LR DR I eiindnan 8 101 Pu Tel ®over Wks 5% 94..103% 105

T Haute Water Wks 5% 36-.-100% 102

Tract Term COrp s..cc.ceec.e

president of the| <Ex-Dividend. | Provident Mutual Life Insurance Co. of Philadelphia, will preside over the 33d annual convention of the Association of Life Insurance Presidents to be held here on Dec. |SInment erne sar (through Oct. 20, com14 and 15, it was announced today.|pared with a vear ago:

U. S. STATEMENT

Year Last Year eines 1.655.008,674.90

INDIANAPOLIS CLEARING HOUSE

Clearings cesoeeee Debits ...ccccoee

LOCAL PRODUCE

cesses ane.

Leghorn broilers,

Bankers of Region Nine of the Indiana Bankers Association will meet Wednesday evening at the Columbia Club for discussion of problems facing their business, J. Forrest Davis, president of the region and cashier of the Madison Avenue

tember, director of the Bureau of, Census reported today. Dr. M. O. Ross, dean of the Butler University College of Business Ad6.75- 7.25 | ministration will speak on “The Economic Implications to the United digs 6.25|'States of the European War.” Albert J. Wedeking, president of the state organization; also will speak.

Carl Palmen, president of Palmen & Associates, Cleveland, O., will 0.00- 9.75/conduct a merchandising clinic -00- 9.50| Nov. 17 at the Naval Armory auditorium under the sponsorship of the Indianapolis Chamber of Commerce, 7.50- 8.25|it was announced today. . 6.50- 7.50] The elinic, termed “a scientific|G demonstration of the fourth dimension of merchandising,” is open to sales executives and salesmen for 2300 down Indianapolis retail, wholesale and Good ....$ 6.50- 7.00 500 down. 8350- 9.50| Manufacturing concerns. 1 6 {Go (heifers) : 4.75- 5.75, 500 down $0.00-10.00 Incorporations 3.75- 4.75! 500 down. 8.00- 9.00 SHEEP AND LAMBS (Receipts 2391)

The Citizens Building & Loan Associa-

Wabash Valley News Agency, Inc. 110 S. Sixth St., Terre Haute; agent, M, Elliott Belshaw, 808 First Trust Bldg., Ham8 9.2 mond; 100 shares no par value; newspaper 6.25- 7.78 | business; Archie A. Murray, Arthur G.

. & G. Foundry and Pattern Works, In3.00- 3.50|dianapolis, amendment Changing par 2.00- 50 per

ov are. ‘ » Democrat Publishing Co. of Shelbyville, CHIC AGO LIVESTOCK Shelbyville, amendment increasing capital stock to 3800 shares, common, of $25 par . value. Receipts. - 16.000; The Daniel DePrez Manufacturing Co.,

Shelbyville, amendment increasing capital Sock to 1500 shares common of $100 par va {

Nelson Development Co., Delaware cororation, admitted to Indiana to prospect

Ps Terre Haute, and moré lower; |change of address to 2012 N. Delaware St.. : | Indianapolis, and change of address of @9.50 | agent (Charlotte B. aggart) to 1900 ve | Martindale St., Industrial Center, Indianolis. calves, * 2000; | “Soetje & Arnold,-Inc., La Porte, change rades light fansles of address of agent (Eldon R. H. Soetje,

Corp. do not repre-

N t. 23 (U. P.).—GovAT Det Rl for the

S 601.61 $2.748.939,705.44 xpenses $2.975,526.601.6 82 ee 8002 44 Gross Def. 1.320.517 926.71 1.025,101,493.00

RYE, N. ¥., Oct. 21 (U. P.).—|NetDef. = 13108027675 3.000838-458 07 executive vice|Work. Bal. 1,236.670.345.22 _2.084.649.508.10 president ‘of the Morris Plan Bank £4, Bett {1388 oro footderens 2 of Cleveland, hes been re-elected to|Customs - '109.141.525.64 100.024, 15.32 a second term as president of the Morris Plan Bankers’ Association.

FOREIGN EXCHANGE

ORK, Oct. 23 (U. I'.).—Followoon cable rates on major curCable ef

deesisnveenseed $2,875,000 ;. 6,879,000

hens, 12c; Leghorn hens, nd White Rock springers, ; colored springers,

INDEPENDENT RETAIL

SALES UP IN STATE

Times Special

WASHINGTON, Oct. 23.—Sep-

tember dollar sales of 756 independ- |" ent retail stores in Indiana were 7.7 per cent over the total for Sep1938, William L. Austin].

Sales were reported 6.6 per cent

over the August figure. Sales in Indianapolis were T per cent over the year-ago month and 9-2 per cent over the August total, Mr. Austin said.

Household appliance stores

showed the largest gain, 38.2 per cent, over the year-ago total. Sales in jewelry stores were 18.7 per cent greater than in September, 1938. The lumber, building ‘and hardware group reported an increase of 8.7 per cent. Lit Percentage change September 1939 from 1938 1939 Evansville «c.co0000000. +13.2 + 6.5 Wayne .......ee000 +118 <4 0.1 ALY... reves +265 -— 8.1 Indianapolis . + 7.0 + 9.2 South Bend ..... +141 + 11 Hammond . -14.8 -31.1 Terre Haute .. - 9.6 + 5.8 Anderson ..... +29.3: +18.3 Lafayette ......cce00.. + 7.1 +15.7 Michigan City ccces... =— 3.1 -— 5.6 Muncie ....... vessesss +185 +19.3 Bloomington s.cccces.. +11.0 +31.2 arion ...... cesevases = 5.8 - 8.6

AAA SPECIFICATIONS

LAID DOWN FOR: 1940

Times Special WASHINGTON, Oct. 23—Terms and conditions under which the 1940

parity payments will be made to producers of corn, cotton, rice, tobacco and wheat were announced today by the Agricultural Adjustment Administration. Payment, which are conditioned upon producers participating in the 1940 Agricultural Conservation: Program, will be made from the 225 million

dollars appropriated for this purpose.

1. That the producer plant within the total of the acreage allotments

of corn, cotton, rice, tobacco and wheat established for his farm under the 1940 Farm Program:

2. That the producer not offset performance on the farm by over-

REO COID -.reneens i 1% 1% planting the five commodities on Chro Yel Cab i*i::::: 3038 soit gos Other farms in which he. has an Gossard Co ........... 11% 11% 11% | interest. 14% 14% oan i #* 1% DEPARTMENT STORE 7% 8 s, + | SALES PUSH: HIGHER 15% 15% 1% 13%] WASHINGTON; Oct. 23 (U. P). . 1% 1% 1l3| —Department store sales in the

week ended Oct. 14 and in the fourweek period ended the same date were 9 per cent higher than in the corresponding periods of 1933, the Federal Reserve Board announced today. ’

Sales in the previous week this

year showed a year to year gain]: of 11 per cent. Each of the 12 Federal Reserve districts reported gains || over a year ago for both the week|! ,|and four-week periods.

FIRST PAYMENT MADE

UNDER ’39 AAA PLAN

Times Special LAFAYETTE, Ind. Oct. 23.—The first payment in Indiana under the

gram has been made to Harry S.

L. M. Vogler, chairman of the Indiana Agricultural. Conservation Committee, announced today. Mr. Buschman, who co-operated in the Triple A farm program, received a payment of $274.39.

DAILY PRICE INDEX NEW YORK, Oct. 23 (U. P.).— Dun & Bradstreet’s daily weighted price index of 30 basic commodities,

average equals 100): - Saturday .....eceoececeeessss 119.07

FARM DEBTS CUT Times Special ; WASHINGTON, Oct. 23.—The farm mortgage debt stands at approximately seven billion dollars, it was reported today by the Bureau of Agricultural Economics. This is the smallest figure in 20 years, and compares with the high record of nearly 11 billion dollars in the earl 1920s. .

ANNOUNCE WAGE RISE PEORIA, Ill, Oct.“23 (U. P).— The Caterpillar Tractor Co. today announced a 4 per cent wage increase to provide two-week vacations with pay for 9000 employees.

-|A small portion of -the fund will

form a reserve for severance pay.

%6c. | The increase is effective Oct. 29.

FOOD PRICES

—]Jllinois, u., ifornia, [email protected]. rate.

Sweet Spanish, : Idaho § Hoe: at

CHICAGO, Oct. 23 (U. P.).—Apples— Michigan Jonathans, bu., 85c@$1. Sweet Potatoes—Tennessee, bu., [email protected]. Carrots—California, crates, 33.6503 75. Spin-

commerce, and would logically|g

Sniori_ Market (50-Ib. sacks)=>

Diamonds, Watches, ‘Autos, Cameras,

The provisions are similar to those in effect for the 1939 parity payments, but have been strengthened by including these additional requirements:

1939 Agricultural Conservation pro-.

Buschman, White County farmer, ||

compiled for United Press (1930-32|}

Week AZO ....coevescsscscess 118.70|F Month 880 :.....ec000ss00000 118.27] Yedr 880 ..:.0...oqresveveses 105.17} 1939 high (Oct. 18) ......cc0.. 119.663 1939 low (July 24) .......... 101.40 | 58

~T TONIGHT -9:00—Andre Kostelanetz, WFBM 7:00—Tommy Riggs, WIRE. 8:30—Alec Templeton, WIRE, 9:30—Blondie, WFBM.

The New York Herald Tribune's ninth annual Forum on Current Problems will open tomorrow and

Mrs. ‘Eleanor Roosevelt will be the

first speaker. The sessions, to last ‘through Thursday, will feature talks by President Roosevelt, pickups of talks by and King Leopold Belgium, speeches by Governors (William H. Vanderbilt of Rhode

Conn.

8 8 2

ON THE RADIO

ans-oceanic . Kai-shek

d, Lloyd C. Stark of Missouri, and Harold E. Stassen of Minnesota, and Mayors Fiorello La Guardia of New York and Jasper McLevy of Bridgeport,

The Forum's general topic is “The Challenge to Civilization.” Its five meetings will. deal with these subjects, in order: “Cost of Government,” “Science on the Side of Civilization,” - “The Democratic Front

AG War's Challenge to the United States.” Tomorrow's broadcast will be from 12:45 p. m. to 2 p, m. and from 2:15 p. m, to 4:15 p. m., NBC= Blue,

” 8 2 Mrs. Roosevelt will be heard at 9 p. m. tonight, Mutual, at the Girl Scouts of America national convens tion. . . . A number of imformal youth forums will commence tonight with broadcasts of young people from Boston and Cincinnati at 8:30, NBC-Blue. . . . Sheila Barrett is scheduled to give her impersona= tions, including one of Tallulah Bankhead, on Tommy Riggs’ program at 7, NBC-WIRE. . . . Conrad Thibault will be Alec Templeton’s guest at 8:30, NBC-WIRE. Alec will give his impression of a Fantasy for Tonette and Piano as Mozart might have written it if there had been a “tonette” in his lifetime. He will also play a swing version of “Hora Staccato.” . . . A premiere performs ance of songs from Jerome Kern's newest musical show, “Very Warm - for May,” will be played by Andre

and What It Faces,” and “The

THIS EVENING $

(The Indianapolis Times is not responsibl curacl ‘announces ments caused by station changes tre ress Lens 1RASUTASIEs 18 EORTAM' SUROW

Kostelanetz on Tune-up Time at 7, CBS-WFBM. . : A 8 #8

INDIANAPOLIS INDIANAPOLIS CHICAGO CINCINNATI WFBM 1230 WIRE 1400 WLS-WENR 780 W_ 700 vi} (CBS Net.) (NBC-MBS) - (NBC Net.) (NBC-MBS) 4:00 Kathleen Norris Girl Alone Forum Kitty Keene 4:15 Golden Store jzainst Storm Baker's: Or. Against Storm 4:30 yw Dick .Reed Anthony Jack Armstrong 4:45 Scattergood Dessa Byrd Dinning Sisters H. S. Bigelow 5:00 Billy & Betty Better H i Fred Kirby 5 Sf Dedogoretlen filemon Gesell Biker spd penton 5:48 European News sens Ses om Mix ne Lowell Thomas 6:00 News Pleasure Tim Kinney’s Or, Fred Waring 6:15 Lum_ and Abner Mystery ® Science. on March News ; 6:30 Good Will * . Rex Maupin One of Finest Four Stars 6:45 ’ Dick R ” 9” Inside ' Sports 3:08 Tune-Up, Time Tommy Riggs Sherlock, Holmes Breezin’ Along 120 Minstrels . Margaret, Speaks True or False Margaret Speaks. 8:00 di i , , . 819 Bade Tester Dr. L Q; Qoneert 0%. Dr. IL Q, 8:30 ” ” Aleg Templeton Youth Fo rum Aleg Templeton 3:0 Lombardo’s Or Contented Hour Unannounced Contented Hour 330 Blondie Sensations, Swing Forum _ Sensations, Swing 10:00 Amos and Andy . Pageant News Peter Grant | 5 10:15 News y News Blade's Or. Paul Kennedy - 0:8 Faul_Sullivan Outside Cutler’s Or. Salute ”» 5 1:00 Alexander’s or. Recordings ; Recordings . Beverly JHills 11:30 Nichol’s Or. ”» 9 Walen’s Or. Moon Ri igs mar Davis’ Or. Carter's Or. ad ’ TUESDAY PROGRAMS INDIANAPOLIS INDIANAPOLIS INDIANAPOLIS * CINCINNATI WFBM 1230 WIRE 1400 WIBO 1050 WLW _ 1700 - (NBC Net.) (NBC-MBS) (NBC-MBS) Patrol Prayer and Praise Mornin’ ois Early Bjpds Pariets oe Gib’ Buchanan Flying X Boys 4) nin ' Dawn Patrol Breakfast Jam me to Shine 7:30 nn» no» Wo sl Gospel Singer 7:45 News News 0: eh Tox Owens: 8:00 Fred Miller City. Today Coffee Cups Caravan 8:15 Good Morning Kitchen Blues Chasers Svan, 8:30 Ensemble ° Me Fashion Footlights Beautiful Life * = - 8:45 Miss Julia Editor's Daughter Devotional Markets. News 9:00 Kitty Kelly * Man 1 Married Reflections Man I Married 9:15 vrt and Marge Other Wife . Hits of Today Other Wife a top Plain Bill Charm House Plain Bill 9:45 Stepmother ‘Woman in White Dr. Swing Miss Julia 10:00 Marv Taylor David Harum Friendly House Linda’s Love 10:15 Brenda Curtis Lorenzo Jones » ” Happiness 10:30 Big Sister Widder Brown Pub. Schools Tena and Tim 10:45 Life Storv + Road of Life Castletime Road of Life 11:00 Kate Smith Singin’ Sam Rhythms Woman Speaks 11: Girl Marries Dr. Malone 3 39 O’Neills 11 Farm Circle Headlines School for. Brides Farm’ Hour 11:45° ” 1” Linda’s Love Boy and Girl ” 9” 1 Farm Bureau Farm Hour Home Folks om 1 News Fen, Weather Good Earth Ellen Randolph 1 Kittv. Keene Reporter Bill Jones Editor’s Daug ter 1 Noon Tunes Pauline Alpert Revelers Litite White House

» n Betty and Bob Matinee Beity and Bob : Di pion, I a i Bn marian A yalian adv ul ease allan aay £ My Son and I Church Hymns ner. Church Hymns

Joyce Jordan Society * Girl Air School

Mary Marlin Ma Perkins Pepver Youn

ams | E203 KEES 880

Storv of Sone ” ” Stella Dallas

Guiding Lich Backstage Wife Christian Science Vic and Sade Smilin® Ed

Mary Marlin Ma Perkins

Pianorama Want a Job? .

£ Number Please Cenper Youn

Ligh

Backstage Wife Stella Dallas Old Refrains Day Is Ours Music

Music Joe E. Brown

Beis | C0000 | 1VIDIOID | Sambar 92929

53528 | 5852! &

Midstream Midstream Kathleen Norris Girl Alone Jamboree Kitty Keene Golden Store Against Storm ” i ZLigainst the Storm ollywo Dick Reed Interviews Jack Armstrong ° Scattergood Dessa Byrd xpress invitation

KEY NETWORK STATIONS ‘(Subject to change): | MUTUAL—WOR, 710; WHK, 1390; WHKC, 640; CKLW, 1030; WSM, 850, NBC-BLUE—WJZ, 760; WOWO, 1160; WLS-WENR 870; KWK, 1350, NBC-RED—WEAF, 660; WTAM, 1070; WWJ, 920; WMAQ 670. |

CBS—WABC, 860; WJR, 750; WHAS, 820; KMOX, 1090; WBBM, 770.

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