Indianapolis Times, Indianapolis, Marion County, 18 November 1939 — Page 9
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STOCKS FIRM: BONDS WAVER |
4 ON N, Y, BOARD £5
Chrysler, Steel Securities [Amal feats
Rise in Dull Trading; Wheat Advances.
By UNITED PRESS
‘Stocks held firm in a dull session today, while bonds were narrowly irregular, and commodities steady at New York. The stock list developed a fi - tures but the leading shares were idle. Shortly before closing time, but one transaction had occurred in Chrysler and that at $89.50, up 50 cents. General Motors was a bit more active and it also made a fractional gain. . The steel issues rose on a few
transactions. Coppers were stronger 4
with Kennecott up nearly $1. Rails
b were steady to slightly higher. Com- [Am W:
mon stocks of the utility group were
barely changed, while the preferreds |;
were up as much as $1.50 in American Water Works first preferred. New highs were made by Beneficial Industrial Loan, Brunswick-Balke-Collender, Hall Printing and Lehn & Fink. New Haven preferred made a new low and its common equaled the low for the year. Atlantic Gulf & West Indies Steamship Lines common gained $1 and the preferred $2. Warner Brothers Pictures preferred advanced $2. Allied Chemical, Flintkote and Continental Steel gained $1 or more. George Helme lost $5.50. Expect Slow Sessions
Minor gains were noted in the rubbers, oils, mercantile issues and the aviations. The latter ignored heavy orders from foreign _governments. Activity of a sort was noted in Continental Motors which had a
3on small loss, in Loft and in: North Bo
American Aviation.
or Trading was light just before|B closing time with prices holding near |g,
the best levels of the session. Traders anticipated slow conditions next
week because of the Thanksgiving Bklvn on Thursday. The|s cyruet
Day Holiday markets here will be closed that day and will operate regularly on the following Thursday which will be observed by half the states as Thanksgiving Day. . New York curb Y tosis were Steady in quiet early dealings.
Forecast Helps
Wheat prices moved upward frac- Cal Chicago | C: Ca
tions to a cent on the Board of trade today. Demand was stimulated by a forecast of a week or try weather in the winter wheat belt. December wheat continued to show more strength than the other futures.
At the close wheat was up % to
cember 50% @50%, and oats were 3% to % cent higher, December 37 asked. Soy beans closed 2% @2%
cents highir, with all deliveries at|&h!
new seasonal highs and December at $1. Trading in other grains was featured by advances of 1 to 2 cents
in soy bean futures which registered |g,
new seasonal . A strong cash market for beans stimulated buying in the futures. beans sold for 98% cents a bushel. Corn futures failed to show much
ve ruled steady ito firm.
CHICAGO GRAIN
Wheat—_Ro. 2 mited iB evily; 89%ec. Cory —No. 3 mix No. white. 60%¢; No. Ww, Slap Ste yellow, 1%e¢; “No. 1 82c¢. Oats—No. 3, 38%c; sample Rye—No Beans—No. 2
.50n. Cash :05n; loose, $5.65n; leat 13 $5. 82n: bellies, $7:50n
RANGE High Low Close
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LOCAL C GRAIN
rong: Feceints, 1 cpload No. 86%ac;
od ward, Se, No. reg, 8 hi Oe n_Steads: Jeceipts. 69 cationds, ne
3 yelloy Xt: No. 4 en Soh eis White ie pr Oc over yellow; mixed a 12@2%c¢c
Ue nik: receipts, 9 carloads; No. 3 white, 36@31c; No. 3 white, 35@36c. WAGON WHEAT lis grain elevators are ng red, iy alec to al change; other eir merits. corn, new No. yellow, "asc. Oats,
WINNIPEG WHEAT ev. Low Ci 70 “703% 3 Ss by eT ao 76% 16% .16% .16%
Indiana for No.
LOCAL ISSUES
od ions by the Indianare Bond & share Corp. do not repre$5 nt Sri Sales, WF Hn Buying and selling quotations of
7% cent, December 88% @88%,|€C Corn was up 1% to off 1 cent, De-|Ch
No. 2 yellow |Col C
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Crown Zeller .
_ FINAL NEW YORK STOCKS
By UNITED PRESS
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156 MOST ACTIVE STOCKS
Nor Am ‘Aviat. . 2115 Curtis-Wr ..... IT Com Edison ... 31% Bruns-Balke ... 25%
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Unit Gas Imp.. 14% ‘Gen Motors .... 58% Am Radiator ... 10%
Stock sales approximated 260,000 shares against 1,420,000 shares in the short session two weeks ago. The market was closed a week ago for the Armistice: Day holiday. Curb stock sales were 65,000 shares Sgainst 303,000 two weeks earlier.
+r++E+i HE BRR EED
1p 18% 1Y, 8%" 287% 33% 317% 112
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Coal 1 El Paso Nat Gas 41 Pu 12% Eng P 8 5.50 pf 2 Erie 2%
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37% lintl 22% 1015'S. 15
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Further development of LatinAmerican trade for Indianapolis products will be discussed at a conference Monday afternoon at the Indianapolis Athletic Club. Edward Zink, Indianapolis Chamber of Commerce vice president in charge of trade promotion, is arranging the meeting. Executives of interested Indianapolis firms have been invited. A. E. Pradillo and Jose O. Monasterio, Latin-American trade experts representing the New Orleans Association of Commerce, will ex-
el| plain possibilities of increasing ex-
ports to Central and South American countries. secretary for the fortee of the
Mr. Pradillo, eign . commerce New Orleans Association of Commerce, recently visited Venezuella, Curacao and Panama. Mr. Monasterio, a civil engineer and mathematics and physics professor at Loyola University of the South, visited in Colombia and Panama. touring Midwestern cities, discussing trade possibilities they learned in the foreign countries.
Discusses Salesmanship The biggest" force is the selling of the public to itself, according to Carl Palmen, Cleveland, 0., merchandising expert who spoke | ¢o at a Chamber of Commerce sales| clinic last night at the Naval Armory. “The ‘salesmen should so convince the buyer of the value of the prod-
others,” Mr. Palmen told the 1500 | 2
dianapolis business concerns. “Salesmanship is ordinary words, n ina Inoderate tone of voice, . “Escape
They are | Light
uct that the buyer in turn will sell ted members and representatives of In-|éete
o Pac pf ....
Mohawk Cp ... 20% 20%
Foreign Trade rr Scheduled Here Monday
why let competition survive at your expense?”
Dealer Appointed The firm of Miller-Weissman, Inc., 2215 E. Washington St., has been appointed Hudson dealer, Ace Motors, Inc., Hudson distributor for Indianapolis district, announced today. The East Side dealership will
former location of Weissman Motor Sales and later Miller Motor Sales.
Electric Output Increases The output of electric power for
6.57 per cent greater than during the first half of October and 15.39 per cent greater than during the
ing to ihe Indianapolis Power & Increases were attributed chiefly to the Indianapolis industrial activity but also to the growing use of electricity for cooking and water heating in homes.
Incorporations
R. Donnelley & Sons Co. nois HH amendment of articies ot in-
Tues Bervioe, Inc., s Sduth nd; Ra 1 funs,
€o ? sou fexas. cor-
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fal pry Ben Porter Salt uh. Sota les of. corpo ation. ol ante > St.
New Albee, ©2 agent. aa Th
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“value struments. Ei and "oftice’ FEE Frank E. Jr,, Bas BR ah *
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occupy the building which was theé|ws
industrial, residential and commer-| cial consumers in Indianapolis dur- gi i ing the first half of this month was|
first half of November, 1938, accord- Voilial
Sdiziapolis; |
g DOW-JONES STOCK AVERAGES
5 5 © 30 INDUSTRIALS Today JeaNREs ssn rarer rine 151.52 +0.52 WeSterday .escooevessesisos. 15100 +018 Week R80 ..cccoveccocscass- .Holiday Month ago css eanscaseevssss 158.86 + 0.86 Year: BRO. ieee verieene.. 150.38 +045 High, 1999, 155.92; > High, 1938, 158.41; 20 RAILROADS
sssssacesseasenans
Yesterday sesh se sree re seeps Week Tage
33.85 40.95 33.80 —0.09 Holiday
sevsssccesaceseen,
Year CL TRI PR .- 30.94 04 ‘High, 1939, 35.90; low, 24. 14. : High, 1953, Ba: low. 19.00, 15 UTILITIES : Today beivarasseeeas . 26.09 --0.09 Yertorday | 26.00 -+4-0.0% Week a%0 .......coict0000.0. Holiday : Month 880 ...ceoieacinrennss 26.05 0.16 ee. 2204 —0.01 ‘High, 1939, 27.10; low, 20.71. 3 High, 1938, 25.19: low, 15.14.
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‘SHINE PRICES
Month MO, ve inrnses eiiee.. 3878 40.20]
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RARE BE RERSRSS sRREEsEe
REMAIN STEADY AT STOCKYARDS
Yesterday's $6 Top Holds For 160 to 180-Pound Division.
Hog prices remained steady at the Union Stockyards here today, the Agricultural Marketing Service reported. Top price quoted. remained at yestories level of $6 paid on the 160 to 180-pound weights. Cattle and lambs were received in insufficient quantities to make a market. Fat lambs closed this week at 25° to 50 cents under last week’s close. Nov. He 1 3
Reps. 8 84 “he i sii. 6.40 i | Sees
Barrows and Gilts
Packing Sows
_ Good aha Choice— 270- 300 $ 5. 25. 5 5.40 300- 330.. 5.15- 5.30 330- 360.. 5.15- 5.256
5.10- 5.20 5.00- 5.1
gas nor nen ren ge 8833323 . ; Q
nonenennen «300
50- 500. . Slaughter Pigs
© 5.25- 5. - 5.30 Mediu and Good Medium— 5 i me 4.75- 5. 5.15 160- 200. 5.50- 5.75| 2%0- 120.. 5.00- 5.60 Slaughter Cattle & Vealers (Receipts, 150)
Bulls Chote ers 2 Baers drs
10.50-11.25; Good 75- 1.25 21100. 3 10.25-11. 00|38usa 0! 6.50 79 6.00- 6.75
9.50-10.75| G od - Medium .. 9.25-10.25| Cutter an wetter 5.00- 6.00 9. 25-1050 8.30- 9.25| Choice”. - J0.00-11.00
ni 7.75- 9.25 medium. .".50- 10.00 15: 2.3 Cull 5.00- 7.50
alve: (Receipts, 50) eeder, Stocker ta attle, Steers Choi er 500-800 $ 9.00- 9.75 800-1150. . 8.75- 9.50
xed— 500- 750. 10.50-11.00 500- 800. . 5- 9.00 800-1050. . : 9o- 8.75
500- 750. 9.50-10.50 Chigiée 2 ens 500.1000. 7.00- 8.35 750- 900. 10.25-11.50Common— 00. 9.00-10.35] 0 Cows 7.50- 9.25 ne
al 6.00- 7.50 Sh, na clioict™ 500 own $ 9.25-11.00
Cows ediu g i 3a 335 500 bi ase. ; 9.25 Cutter and “iGoo Coie ery common 4.50- 350 500 down $ 8.75- 9.75 Canner (low Medium— cutter). 38.25- 4.25| 500 down.. 7.50- 8.75 SHEEP AND LAMBS (Receipts, 25)
one BIC SHEneh "a o > @
750-1100. 6.50- 7.75 Steers, Heifers
Be foers) ts 500- 900.
Good and choice $9.00- 9.25 Mogium and choice ... «eo 1.50- 8.7 .. 6.00- 7.50 Ewes (on shorn Dasis)
Good and choice ees 3.00- 3.25 Common and medium ......... 2.00~ 3.00
CHICAGO LIVESTOCK
CHICAGO, Nov. 18 (U. P.).—Hogs—Reipts, 300; very little done pi few bi ie and scattered sales Sioady to weak at $5.8 own. For the week hogs slum est Soars cents, with best light hogs lowest since 1934; increased receipts Be lower fresh pork prices -affected live market; choice light pork loins fell to $13; liberal runs live hogs expected. * .Cattle—Receipts, 100; calves, 100; mar- . Tor the’ week heavy steers under severe [ressute. but early declines P ained at the clo loads scaling 15501bs., selling nctly [email protected]; yearling cattle scarce, active; extreme to $10.85; fed heifers scarce; practical top 140-10. Stee $10, ‘ 0 1105 1 ictly ag up to ; cows lost 1oais cent: ferings us ulls 2
down cents, few above se. 50; Heavy ‘sausage bulls steady, best up $7.15; Western grass cattle run ctically over. for season; stockers nd’ Jesders, $8@10; stock calves 11.30; vealers steady at $9@10,
ceipts, 500; market nominal;
; top, $.35 to ou bulke Sted Westerns; 401 to packers; down; native atte ewes, i the week lambs, 15@25 cents lower.
OTHER LIVESTOCK
FT. 3 WAYNE, Ind. Nov. u , P)— Hogs—Steadv: 160-180 lbs. a 180-200 Togs Tx 75: 230-240 Ibs., $5.55; 340. 250 1bs., 5.45; 260-280 . $5.35; 280-300 E
By UNITED PRESS
week ended Nov. 11 .department|c store sales 7 per cent above year ago vs. gain of 13 per cent previous week.
Inc, consumption of iron and steel scrap 3,974,000 gross tons apparently a new monthly record vs. 2,393,000 year ago;
tons vs. 16,385,000 year ago. Total World Stocks of Tin as of
39,001 end of previous month and 50,758 year ago. Borg Warner Corp. Sept. quarter
a common share vs. net loss $477,858 year ago; nine months’ net profit $3,483,036 equal to $1.49 a common share vs. net loss $1,111,462 year ago. Jewel Tea Co. four weeks ended Nov. 4 sales $1,991911 vs. $1,851,750 year ago; 44 weeks sales $20,596,354 vs. $19,903,628 ‘year ago. J. I. Case Co. regular quarterly $1.75 on 7 per cent cumulative preferred, payable Jan. 2, Dec. 12. Distillers Corp.-Sea regular quarterlies 50 c¢ mon and $1.25 on preferred, first payable Dec. 15, record Dec. 1, and other payable Feb. 1, record Jan. 15.
U. S. STATEMENT
WASHINGTON, Nov. 18 (U.. P.).ZGovernment expenses and receipts for the current fiscal year: through Nov. 16, compared with a yea Le 380
This Exp... i $ 3,571, 338. 243. 738 aa Jo. goa 778. 35 - 2/050,450,719.96 2,104,137.569.25 5 77 1,260,687,207.10 1,244,713,257.10 2, 5%. 135,496.57 1,917,537,019.93 38, 530,530,876.30
573,801,305. Pub, De Ya 339.110, 445.5. 162,163,994.
Gold Res. 17,234,862, 32: a Justoms.. 136,304,04
~ INDIANAPOLIS CLEARIN G House
opening
le rates on sa cies: uk
Bee llar pur » nd (franc
untry run Sse" under under 38 1 Jeduetion Sp Ea nr Hd
a A GLANCE
F Institute of Scrap Iron & Steel,| estimates October -domestic at A&P
OC. 10 months consumption 27,176,000 | M
Oct. 31 totaled 46,561 long tons vs.| Jia
net profit $1,066,986 equal to 46 cents|
3 record | 47
ms, Ltd, on com- |;
79 | Hib) 195.498.841 50 Ti Ji
FOREIGN EXCHANGE ie
NEW YORK, Nov. cable (U. P.).—Follow-
major | Qu
NE ws.
NEW. ORK, Nov. 18 . P)— The publie soon c will be given an opportuii‘ty to-air its views on the subject of trust institutions, banks with trust companies and the public
services. they. perform, the Amerfoal) Bankers Association announced
-
Roland E. Clark, president of the association’s trust division, stated
‘that his division is sponsoring a na-
tion-wide poll of public opinion on the relative merit of the aforementioned trusts. Elmo Roper, public opinion research expert for Fortune| Magazine, has been Select to conduct the suryey.
Want Rates Retained
NEW YORK, Nov. 18 (U. P.).— Eastern railroads will seek I. C. C. permission to retain the “experimental” passenger fares effected last June for an extra nine months after
the scheduled expiration ‘date on Jan. 24, 1940. PF. E. Williamson, president of the New York Central and chairman of the Eastern Railroad Presidents’ Conference, stated that a majority of the management group favors maintaining the present rates and that a on to that purpose will be forwarded to the Interstate Commerce Commission.
Seeks Reorganization
WASHINGTON, Nov. 18 (U. P.). —An Interstate Commerce Commis- | sion examiner has recommended approval of a reorganization plan for the New. York, New - Haven and Hartford ‘Railroad Co, which would reduce capitalization as of Oct. 23, 1635, from $4'75,871,843 to $365,000,000. The plan recommended by examiner Harvey H. Wilkinson would reduce fixed charges and guarantees from $20,329,920 to $6,385,019. The effective date of the reorganization, if approved by. the Commission; would be Jan. 1, 1940. The plan specified that the equities of the holders of both common and preferred stock would have no
stockholders.
Receive Tanker Order
SCHENECTADY, N. Y., Nov. 18 (U. P.).—General Electric Co. has been awarded a contract to provide the propelliig machinery for a 19,450-ton all welded, tubro-electric tanker to be. built for the Atlantic Refining Co., it was learned today. The contract includes both the turbines and electric drive. The vessel's turbo-electric engines will be designed to develop’ 5000-horse power and give a speed of 13.25 knots per hour.
VOTE ON TOBACCO QUOTA
LAFAYETTE, Ind., Nov. 18 (U. P.) —L. M. Vogler, chairman of the
Plindiana Agricultural Conservation
Committee, said today that approximately 1500 Hoosier farmers would be eligible to vote Tuesday in a referendum to decide whether marketing quotas should be imposed on the 1940 burley tobacco crop. Voting will take place in 46. counties,
Curb Stocks
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ON THE R
- TOMORROW TH:0-Ratlie City, NBC. 3 ~2:00=N. ¥Y. Philharmonic, WFBM. 7:00—Charlie McCarthy, WIRE. 8:00—Detroit Symphony, WFBM.; '9:30—Information Please, WIRE. 93 :30—Beethoven ven Cycle, NBC.
“GOOD MUSIC" © am By James Thrasher. -
First, of all, a ‘reminder that the | Indianapolis ‘Symphony. Orchestra is Seginning ‘its second broadcast season ; on CBS-WFBM . next Wednesday night. There are 18 scheduled concerts, to be heard each Wednesday from 9: 30 to 10 p. m. -The present series gives the orchestra the advantage of an evening hour and, potentially, more than double the number of listeners. But the shortness of the roadcast works a grave musical disadvantage, since it tends to Hmit the program selection to short. pieces. Perhaps the broadeasts may serve as an hors d'oeuvres for some listeners, whetting their appetite and enticing them to the Murat, where. they may sink their teeth in more solid symphonic fare. ‘At any rate, Fabien Sevitzky has chosen ‘the following selections for the opening broadcast: A Fanfare by Dubensky; the Overture to Glinka’s “Russlan and Ludmilla”; Frederick Converse’s “California,” and the Marche Slav by Tschaikow-
ky: 2 8 =
Th addition to NBC!s Sunday night cycle of. Beethoven string quartets, Arturo Toscanini will give listeners excerpts from one in an orchestral arrangement during tonight's broadcast of the NBC Sym phony (9 o'clock, NBC Blue). : According te latest information, Mr. Toscanini will do the Lento and Scherzo movements from Beethoven’s last quartet, that in F major, Opus 135, instead of the previously scheduled Seventh Symphony. The program’s other items include the infrequently heard “Leonore” Overtures Nos.-1 and 2, and the Eighth Symphony. 8 » » 3 I hoped that last week might end
how to receive the Toscanini broadcasts in Indianapolis. But WIRE would like to go on: record with a. statement: It seems that the local station has what’ are called “basic. Red network” ‘commitments. That means
| that, among other things, its time is
optioned to that network between 7 and 10 o'clock each. night. Rather than break in on the middle of the 3C. Symphony program, the station - Tt decided that it would ‘be fairer all around not to the program at all. should elear up some mise understanding among certain listen=ers as to WIRE’s part in the’ ‘whole affair. . It’s just one of /those that can't be helped, a rently. - 8 8 =
You can’t tell about ‘names anys more. John Barbirolli, the New York Philharmonic-Symphony Orchestra conductor, is an English man,.born and bred. And his soloist in tomorrow afternoon’s broadcast concert will be Zino Francescatti, who, despite an equally Italiane sounding name, is a Frenchman. Mr. Francescatti’s vehicle tomorrow will be the Paganini Concerto in D. And despite the fame and’ prevalence of Paganini’s name in: violin circles, you won’t often find his music on programs of such. august bodies as the New York orchestra. Less on the novel side will be Mr, Barbirolli’s orchestral selections, the -E Major Suite for Strings, by Arthur Foote, and Brahms’ ‘Second Symphony. "we : Rachmaninoff’s -prodigiously dif ficult Rhapsody - on a Theme by Paganini will bring. to a close the Radio City ' Music Hall's radio “festival” of the Russian composer's works for piano and orchestra. Hen rietta Schumann will be soloist on the broadcast at 11- ‘a.m. tomorrow, NBC-Blue. Rosemarie Brancato, the Amere
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