Indianapolis Times, Indianapolis, Marion County, 18 December 1939 — Page 13

MONDAY, DEC. 18, 1939

" John T. Flynn

NEW YORK, Dec. 18 — The TNEC in Washington got around last week to a situation which has been crying aloud for airing. It tock a look into the menner which a few of the most powerful bankers in Wal! Street have snapped their fingers at a law passed in the early days of the New Deal to protect investors and depositors, One of the great abuses of the old pre-depression days was the manner in which banks of deposit mixed up with their legitimate banking functions the business of underwriting securities. A bank is a reservoir of vast sums of monev ahd even vaster volumes of credit. In the old days the great scramble of the over-acquisitive man who helped to wreck our economic system was to get possession of these reservoirs of money and credit. He then exploited them not in the interest of the depositors and the commercial community and the public, but in the interest of himself and his fellow promoters in all sorts of security operatipns, »

” »

THE BLACK STORY of that era told in thousands of testimony outlining the of banker - under-

has been pages of per;srmances

writers in all parts of the country. |

in various investigations and lawsuits. It is one of the most shameful stories in American business history, To remedy this the Glass-Steagall hill was passed. Among other things this bill outlawed banking affiliates. Tt also Hut an end to the institution of private banking and it prohibited banks from acting as underwriters and underwriters from acting as banks. This was net a New Deal bill, The New Deal remained all during these disclosures singularly uninterested in legislation to correct these banking excesses, The President refused to make this bill a part of his program. It was Senator Glass who forced the issue ant put these reforms through. But no sooner was the bill made 2 law than some of the leading bankers proceeded to show how they would obey it. And so this week the TNEC had W. Averill Harriman on the stand to explain hiz banking company’s method of obeying the law » » BROS. & HARRIMAN issue

BROWN was a bank and a After the law was passed it had to choose which it would be. Brown Rros. & Harriman continued as a bank. but the Harrimans organized another corporation called Harriman, Ripley & Co. which proceeded to operate as an underwriting house, Mr.. Harriman admitted to the TNEC that the Harriman family owned all but $100,000 of the $5.000.000 capital of the underwriting firm, But, he said, the Harrimans do not “control” it. They own it, but do not control it. That isi they per1it the emplovees to control it. + Of course, who controls stead of actively

house of

all property, If, in-

exercising

judgment, their control is merely the control of agents for a principal. That this is a circumvention of the act is as plain as a pikestaff to anybody but a corporation lawyer, But when the TNEC began to look into it, the activity of the SEC counsel charged with the investigation was suddenly very much eircumscribed He was hampered, called down, browbeaten and called hack at every turn. It must be remembered that W._ Averill Harriman is one of the banking pets of the New Deal.

BALLARD EMPLOYEES GET BONUS TONIGHT

The William H. Ballard Renefit Association is to hold its annual Christmas party at Municipal Gardens tonight. The dinner is scheduled at 6:30 p. m The annual distribution of holiday bonus checks by the Ballard Ice Cream Co. Inc. will be made at the party, according to C. A. Reeve, president.

lies on their

in|

the owner is the power |

this | control. he names employees and re-

CHICAGO GRAIN FUTURES GAIN: STOCKS | LOWER

Steel Operations Dip: Cotton Advances.

Br UNITED PRESS

Anat

NE \ INE

2 Gents Higher;

Grain futures continued =a bros |

advance on the Chicago Board of Trade today, with wheat setting up new highs since October, 193%. on gains of more than 2 cents. Rye and sov beans also registered new peaks. New York stocks drifted lower, At the ena of wheat was up 1% to 2'i cents, with the December future At $109 =n bushel. Corn was up 3 to oats !{ to !'; eents higher, i's lo 2'x cents higher, soared as much as 4'; cents. Other North American markekts were a little behind the advance at Chicago, but both Winnipeg and Minneapolis hit, new highs for the season on gains of 1% to 13% cents. Buenos Aires was strong. Dust] storms were reported in Kansas, New York security trade was light. Losses were fractional for the most part, although some issues were off more than $1. Douglas aircraft had a decline of $1.50.

Chicago Shares Drop

the first hour

and rye

Coppers held well and few of the rails were firm. Steels were lower | with Bethlehem. and motors turned | easier after a steady start, Mercantile shares joined the decline. Utilities held about steady. Steel operations of the nation will! dip 90 per cent of capacity this: week, a decline of 1.2 points or 13 per cent from the preceding week and the third successive decline! since the year's peak of 944 per cent was established in the Nov. 27 week, the American Iron & Steel Institute reported. Stocks worked irregularly lower on the Chicago Stock Exchage in quiet trading. Curb stocks at New York were steady in extremely quiet trading. Price changes generally were small. U. S. Government obligations paced an irregular advance in the listed bond market in quiet forenoon dealings. Silk Booms

Security prices on the London Stock Exchange were firm, despite restricted dealings and the impending Christmas holidays. Trade and foreign demand lifted cotton futures at New York as much as 60 cents a bale after early hesitancy. The domestic wool market at Boston has not yet shown definite reaction to the plan announced late last week by which Australian wools would be sold to American buyers, the U. 8S. Agriculture Department reported today. Silk prices boomed further at Yokohoma. to around the best levels n a decade with turnover breaking all previous records.

$10,000 SHOPPING CENTER PLANNED

Plans for a $10,000 shopping and office center on the southeast corner of Kevstone Ave, and 38th St, were announced today by Horace P. Beville, Construction is expected to start after Jan. 1. 1940. The structure will be divided into four rooms. each with a 30-foot frontage on Kevstone Ave. Mr. Beville said. Two of the rooms will be 20 feet long and the other two will be 37 feet long. The front of the building will he constructed of red brick and limestone. Ma jor of cement block. Mr. Beville said arrangements had been completed for occupancy of the building bv a beauty and bharber shop, doctor and dentist's offices and a hardware store. The Horace & Betty Regal grocery store which

Mr. Beville operates at 2401 E. 30th 3

into the fourth building and a the grocery

St. will be moved room of the new drug store will occupy store's former location,

WAGON WHEAT

Indi RBIS grain eievators are paying for No. red $1, subject to market change; Aner grades on their merits, Cash corn, new No. 3 vellow, 45¢, Oats, 35¢.

Ki ing Cotton Perks Up as Price Soars, Exports Rise

Bry MARSHALL M'NEIL Time: Special Writer WASHINGTON. Dec. 18.—That glow Washington sees in Southern skies iz the sun shining bright in the land of cotton Good things are happening to cotton: The market is rising. Cotton exports are hooming. with the prospect that as many as 6,500,000 bales may be sent abroad this cotton year. Domestic cotton consumption is increasing. No more cotton is ailing up in the Government loan, yecause the loan is less than the eurrent price. Some of the cotton held as coliateral for the 1938 loan i getting back into the trade. Foreign demand, spurred by the Federal export subsidy program that gives foreign buyers a better price than consumers here at home, ana the increase in domestic consumption are credited by Agriculture Department experts with boosting the present price. Before the war, and apparently because foreign buyers expected this Government to launch its export subsidy program, stocks of American cotton in Europe were extremely low, There apparently was no advance buying of war stocks, only England making a start through the rubber-cotton barter with this country. With the beginning of the subsidv payments, exports increased. At first the subsidy was $7.50 a bale, later it was halved. Some of the increase in exports is crecited to a scramble to get in under the export program when the subsidy was highest. A so-called bay market is also given some credit for the increase in exports. According to representatives of the cotton trade here, speculative forces ran up the price of cotton there, being aided by the fact Shas jute

“squeeze” in the Bom- |

prices went up. lessening the competition between the two. This year’s crop will approximate 11,800,000 bales. And with exports estimated at 6500000 and domestic consumers using from 7,000,000 to 8,000,000 hales, there apparently is going to be opportunity for about 2.000.000 bales to be withdrawn from the Government loan. The Government itself holds something less than 7.000.000 bales taken over under earlier loan hoe grams. besides the 4,000,000 bales put in the loan last year. The present high price permits

farmers who got 1938 loans to with-|

draw their cotton, repay the loan and carrying charges. and sell at about 2 cents a pound profit. So it appears fairly certain that the bulk of the cotton farmers are! not getting any of the new high price. The profit-takers, if any, are the cotton speculators and buyers who happened to acquire cotton at from 9 to 10 cents a pound. Meanwhile, the Agricultural Adjustment Administration is completing its plans for the cottoncontrol program for next year. A few days ago, in their annual elections, cotton farmers voted by record majorities to continue the program another season. The cotton trade, apparently, worried about two things. First, whether there will be adequate credit and dollar exchange available for foreign buyers to pay for the American cotton sold, and, second, whether there will be ships available to carry it abroad, especially to belligerent countries. Nobody here knows whether the present price increase is the start of such a bulge as occurred about two years after the World War started. But no one could be found

‘here who would say definitely that

it was not,

3: cent, |

Soy beans |

construction will be gf

Keller T. Brock, president of Haag Drugs, Inc. today announced the “company's newest store at St Joseph and Pennsylvania Sts. shown a 33's per cent gain in volume of business since its opening last week.” At the same time Mr. Brock sald plans are under way to remodel]

THE INDIANAPOLIS TIMES > Store Moves Into New Building 124 DWELLINGS [Swine Prices 4

PAGE 13

10 BE ERECTED IN NEW ALBANY

s U. S. Housing Authority

Times Photo. Pennsylvania Sts. was moved into a new building on the southwest corner from a former location on the

manager. The structure built of white and 'glazed brick, has a basement for ‘storage and machinery. The staff was increased from 12 to 15. The

Loans $461,000 for Homes Project.

Timer Specinl NEW ALBANY. Ind, Dec 18 Approximately 124 family dwelling | units are to be built here as the result of President Roosevelt's approval of an United States Housing Authority loan to the local housing |

has | northwest corner, Harold Morgan is authority.

There also will be an administra tive building, providing management and maintenance facilities and tenant families’ community activities. There will be surface

three stores. at 11th St. and College soda fountain is twice as large S| slay areas. and a spray pool for

| Ave, 16th and Illinois Sts. | The drug store at St. Joseph and

N.Y

—r

High low Change Adams Exp . Ba BR ‘a Allegh Corp 1 1 1 -— A HET Lud” Stl 2214 2% — Al 40° $ + la Am A CBr) ‘a 3 3 ; - 34 A MAL Lines .. 4 ‘a Ad Derre ‘et W | Am & F Pwr

Ice

Net

| Am . | Am Metal ‘ Am Pwr & Lt . Am Rad & S® . Am Roll Mill. Am Smell Lis m Stl Pdies .. Am Sugar .... | Am Tobacco ... Am Tob “4 Woolen pf. . Anaconds Me | Anchor H GI nf 114 Armpul HN .... 3) At] Refining ... Atlas Corp .... Auburn Aute .. Aviation ‘Corp...

Bald Loco cot .. Bait & Ohio . Barnsdall ... Beth Steel Borden : Briges Mfg Butte Con & 2 Budd Wheel Burroughs

Callahan Zine Case Cent Cent R Ches & Ohio Ch M St P&P ChMStP&P pf Ch & Nw Ry CRikN Ry Chi R I&P Climax Moly Colgate-P-P Colum Gas Com Solvents Comwlith Edison Comwith & So

A nirre N J

of, ve. “ »

on Cons Cons eons ont Cont Cont Cont Cont Cont Coty

Crane Co . Cream Wht Crown Zeller Crown Ze] pf A St. ... w Cub: R 8 EubeAm ug Cub-Am_ Sug pf. Curtiss-Wr | Curtiss-Wr A |

Deere & Co Del & Huo Dixie- Vortex Douglas Air Mfg

A 81 15

“Pont 170

Ba AL Hrs Elec WT * Elec Pwr Elec Eng P

Evans Prod

Fair Morse Rada rdo Sug Fed Dep St

First N Stirs

Gen Gen Gen Gen Gen

Baking ... Electric .. Foods ..

Gen Gen R a

BADD

Gree ER Goodyear Gotham Hos Graham-Paige Nor Ore St North pf ‘ Grevhd 3': pf Guant Sug ....

Holly Sug .. Houston Oil 3 Hud Rav M & 8 9

Ill Central 13 13% JHgCrSON Rand 11% 115 iratn Cop 14 13% Int PRarvester 23: 62% Int ‘ Ye 8 Int 36's Int 52% Int 50 Int & : 4

Kennecott 38'.

Kroger G & B

Leh Lehn Libby Loft. Ine Loose-W

Val RR ... L Fink L

Bis

Mack Tr Manati Sug Marshall d

Martin Parry Re

DAILY PRICE INDEX |

NEW YORK, Dec. 18 (U, Dun & Bradstreet’'s daily weighted price index of 30 basic commodities compiled for .United Press: (1830-32 RYeine equals 100) Saturday Week Ago ...... Month Ago ..... Year Ago . .. 1939 High (Dec. 16) . 122.85 1238 Low (July 24) 101.40

FOREIGN EXCHANGE

NEW YORK, (U. P.).—Follow-

; 120.16 118.24 104.49

Dec. 18 ing are noon cable rates on major curCab! !

rencies:

Engl gland ‘Round:

dollar)

many .“ Switzenand (franc) | Holland (guilder) Sweden (krona) Norway (krone) mark (krone) .. aban ven) .....

INDIANAPOL 1s CLEARING Clearings .. Debits

0001

U. S. “STATEMENT

WASHINGTON, Dec. 18 (U P., ernment expenses and receipts for current fiscal year through Dec. 15, pared with a vear ago This oYesr Last 910 183.93

the |

Year

lf 8G 5

= 233;

ges

33%

Rece Gq Ne

w or

$323 Fee #3; =%

> 3:

Buh Res Customs

— »

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

, Paramt *

Tenn Corp

876,000 13.395. 000

Boy. |

com-

.493.053.542.90 | 338: 38. Hi 38

5600 E. Washington St. and iting! Mr. Brock said. Plans are | being

made to air-condition the store in summer,

STOCKS

(By United Press) | DOW- JONES STOCK

AVERAGES 30 INDUSTRIALS —0.2% —0.88

Saturday Week Ago Month Age Year Age ‘ High, 1930, High, 1938,

1535.92: low, 158.41: low, | 20 RAILROADS Saturday Week Age Month Age Year Ape ‘ Sabina High, 1939, 25.00: ow, 2008 , High, 1938 33.9%: law, 15.00, 13 UTILITIES Saturday Week Age Month Age Year Age Righ, 1939, High, 1938,

Wan 1

20.an nm:

law, low,

High 37%

« II

low 1

37%

11%

Masonite Corp McKeesport McLellan St Miami Con Minn-Msl Mo-K Tex Mont Ward Murray

Naw Kelv Nat Biscuit Nat Cash Reg Nat Dairy Nat Distillers Nat Lead Nat Pwr & Lt Natomas N Y Central N YY NH&R No Amer No Am Avr No Pacific

Ohia Oil

Pac Am Fish Pac Coast 1 pf Pace G & RI Packard Pan Am _ Airwvs Pict Patino Mines Pennev Penn RR Pere Mat pr nf

Press Stl Car . Press Stl 2 nf . Public Serv 40 Pub Serv 8 pf.

Radio “iis Radio pf N Rayonjer pf Rea! 3 Rem Rand Reo Mot Republic oH

Richfield ‘oh Roan Antel ..

Safeway Safewav 5 nf St Jos Lead St L-8 Fran Scott Pan Shell Un Oil Socony Vacuum Gold

Swift Intl

Corn

oa aa

- ty

oo» ow -

BS elaine WII III CLINI TD DINILS ;

i-Cont 20th Cent-F nt

Union B&P Union Carb Un Alreran Cn Air

EBD TD LD fe FY A PAC BP ANS

—

Victor Chem

Walgreen Walker (H) Ward Bak B Warren P&P W Pa El 6 pf West Md ‘. West Union Wheel Steel

Woolworth

Young 8 & WwW + Young Sheet

Chicago Stacks

"= Low Close Adam: Oil & 144 ia! Armour & Ce 8 ® Aviat Corn

Bendix Be

Ges

cent i see ev pt Chgoe Corn

Cunningham “Drug Deere & Co Elec Househd Gen Finance Gen Motors Heileman Brew Hubbell Har Marshall Field Nat Battery pf Peoples G L & © Pines Wiront Serrick Corp BR 0 Bend Lath | StewaT- WAT ‘ Swift & Co .. Swift Intl | Thompsen ! R

LOCAL PRODUCE

Heavy breed hens, 5 ibs. and over, ile; under 5 Ibs, $9: Leghorn hens, 7c: Barred | and White Rock roasters, 4 lbs. and over, 1c, under 4 lbs. 9c; colored roasters, iba and up. 10c. under 4 lbs. 9c: vy reed Stags. Jc: Leghorn Stal & 6c: Leghorn Lesa Ter Ibs. and over, 7 Ibs, and | ove | Ne.

TT “strictly fresh country run eggs, 15¢; (each full case must weigh 55 lbs. gross: a-'net deduction of: 15¢ for each full case under 55 Ibs. will be made.) Butter—-No. 1, 30'%.@31¢c: No. 2 0a 30c: butfertat. No.1 27c. No 2, 26c {Prices Quoted by Wadley Co.)

FOOD PRICES

CHICAGO, Dec. U.P) - | MCI MacRniosn: bu. 1 | Potatoes—Tennessee, bu., $1, ots—Calitornia, crates. $2, 23 LY WH alifornia, bu. $2®2.50. Celerv— Michigan crates, Tomatoes—Texas lugs $272 50: Spinach- Missouri, bu.. 50@ s5¢. | Ohion Market 50-1b. s eka) Minnesots allows, Towa Whit 1.05. Iowa e .

80c. . ows, 53@65¢c. Idaho IL 75¢.

hod 00

younger children. Mack Harp is chairman of the | |New Albany Housing Authority. | Other members are J. R. Reisz,| | Frank Warmoth, Russell Baker and | Clarence Hinkle. Evan A. McLinn is executive director. { Estimated construction cost of the project is $513,000. This includes construction cost of dwellings. land. non-dwelling facilities, architectural and overhead charges.

Some Capital Local

Federal U.

The loan amounts to

$461,000.

carries na per cent

the actual cost, term with 3'4

cent, of 60-year interest.

Ten per cent of the actual cost |

through participation of local capital, most of which will be raised through the sales of bonds to private investors. The rentals, although not estab lished yet, in the reach of families of low income now living in substandard houses,” the U. 8S. H. A. asserted. Claim Homes ‘Substandard’ In joining the national slumclearance and low-rent program, New Albany moved to relieve a condition which finds more than half of all tenant families in that City living in dwellings that are substandard by reason of their structural condition alone and without regard to lack of ordinary sanitary facilities, the U. 8S. H. A. reported. In its application the local housing authority cited a WPA survey in 1935 which disclosed that out of 3867 tenant-occupied dwellings in | New Albany, 1985 were either in need of major structural repairs or were in such enondition as to he entirely unfit for habitation, according to the U. S. H. A. Furthermore, the survey revealed that 2448 of these tenant-occupied dwellings, or 63 per cent, were without private bath, while 2224, or 57.5 per cent, had no private indoor toilet, City Records Destroyed For the City as a whole, 7647 dwelling units were listed, and of these more than half—3911-—-had either no bathing facilities at all, or shared them with other units. There were 3549, or nearly half, without private indoor toilet, 5179, or about tw: out of

| will be

ities or none whatever. No fewer than 1106 dwellings, or about one out of seven, were found to lack such a common convenience as running water, Structurally, an unusually high proportion of the 7647 dwellings were in bad condition, 2471 being in need of major repairs and 780 being in such an advanced stage of dilapidation as to be unfit for occupancy. Only 1663, or about one in five, were listed as in good condition. Situated on the Ohio River, New Albany is one of the three so-called “Falls Cities,” the others Louisville, Kv... and Jeffersonville, Ind. Most of the City records were destroyéd in the Ohio River flood of 18937. Thus the local housing authority was unable to submit figures showing "the extent of private building in recent years. The authority expressed the conviction. however, that new construction has

* failed to keep pace with the need.

LOCAL ISSUES

The following quotations by the Indianapolit Bond & Share Corp. do not represent actual price offerings. hut merely indicate the apnroximate market evel hased on huving and selling quotations of recent transactions, Stocks Bid Ask

Auto Invest Corp com . 8 Belt RR & Stk Yds com . 55'2 Belt RR & Stk Yds ofd . D2 Cent Ind Pow 7" pfd. vvve 65% Hook Drugs, Ine., com ....... 12 Home T&T Ft Wavne 77, .. 50'% *Ind & Mich Elec 77+ pfd ..109'; Ind Gen Serv pfd ‘“ 109 Ind Hyvdre Elec 77% pfd . Indpls Gas com *Indpls Pow& Light 67, pnfd *Indpls Pow & light 6'52", *Indnls Water. pfd . Lincoln Nat Life Ine com N Ind Pub Serv 5'57. pfd N Ind Pub Serv 6". ptd N Ind Ind Pub Serv 7» pfd Progress Laundry r Co of Ind 6". pid . vr Co of Ind pfd S Ind Gas & Elec 48", pfd Terre Haute Electric nfd Union Title Coa com Van Camn Milk pfd Van Camp Milk com | Ronde 51 18 Alps

ow 1h . 51% 68; 14 532

pfd 1

American Loan 5¢ American Loan 5s

Citizens Ind Tel 61

! Crabbs-Rey nolds-Taylor Co 3

Wayne 5's 7 ° oS ‘85

Home T&T Ft V Home T&T Ft Wavne 6 Ind Asso Tel Co 4':7 Ind Tel Co 57 60 Indpls Railway Ine 5% Indpls Water Co 3':° Interstate Tel&Tel 5'2% Kokomo Water Works 87 Ruhner Packing Co 4'; Morris 5&10c Stores 5% Muncie Water Works 5% Nat Silk Hosiery 5s 42 Noblesville HL&P 6'27% Public Tel Co 4157 J Richmond Wat Wks 57. Terre Haute Wat Wks £7 Terre Haute Wat Wks 67 Trac Term Corp 57% "57. *Bx-dividend.

Lyd ‘5 ‘56 10

GIVE HER a luxury fur coat! notch workmanship! pelts! Approved fashions! $20.50 to $100.

THE

B 2 2 n R i B i % |B a i i i ¥ i 2 ¥

| from $6.60 to 85.75.

| Good -

S. H A requirements | specify it is not to exceed 90 per |

Good 500

“definitely will be with«|

housing |

[ly

while | k three, | either had Inadequate heating facil-

| ewes and wethers eligible higher,

being |

| cu ww ww es wa ws

Come to THE CHICAGO STORE for Her Gift of Gifts!

FUR COATS

18179;

® Huge Savings! ®* New Styles!

Gain 15 Cents In Trade Here

Hog prices gained 15 cents at the | pio Stockyards here today, according to the Agricultural Marketing Service. The gain was made on all weights. The top price quoted rose Vealers were | steady with a top at $11, Steers sold 25 cents higher, Pat | lambs and yearling prices were

steady to 25 cents lower.

Repts. 11,085

31500

Repts, Dee, BDIY 18 N44 18 11,035 18

Gilt |

Dee, 12 13 "

Top 5.50 5.60 5.60

Top . 8 5.60 5.60 5.5% and

Barrows Packing Sows

Sood and Choice 270- 300 & 4.85- 4 BO 5 65 300- 330 4.60- 4.75 8.7 $30 380 4.55. 4.65]

19) 5.80|G 5.75 EN 400 4.45. 4.85 ‘ 4.40- 1% 4.35 4.50

4.15 A! | Slaughter Pigs

4.80! Medium and Good 5.50. 90- 120 5.25- 5.40 |

& Vealers (Receipts, 1058) [

4.65Medium . 18 200 5.15i, Cattle Steers Choice 750- 900 $10.50-11.25 000-1100 10 ‘3011.28 1100-1300 10.00- 10.75 1300-1500. 9.75-10.50

Bulls | Yearlings ‘Good . 8 Sausage ood ‘ Medium Cutter and Common

extluded) 6.5 " 25

1.28

6! 6.26« 5.00

750- 900 900-1100 1100 1300 1500 ns 750-11 1100-1300 Common 750-1100 Sree, Heifers

\ Stocker Cattle, Calves (Receipts, Steers

9.00-10.00 8.75 p00

BR.50- 0.25 R.OD- BTA

7.00- 8.98

ICholee-

0.00-10.25 J00-1080.

25-10 oor 800. , 9.23-10.25 800-1050, ‘Medium, . Cholee 500-1000, 750- 800 Good ~ 900 Medium . SS or

Com ‘ S000 200

| Cows

..% 6.505.50

Mix 500- A50 - 750

Heifers

6.00 7.00] R.A0-10.00 Cows Medium and

7.25- 0.00 Rood $8 550. 6.25 | Calves (steers) 6.00- 7.25 Good and Choice 500 fawn 80. 3%- 31. 00 Mediu

500 awh R.00- 8.25 |

{aod / 50) Bp (heifers)

Medium Cutter and 5.50 a0 oc Hawn $8.75 0. |

cutter) « 4,500 500 ! 57.50. 8.75 | SHEEP AND LAMBS Lambs Good and choice Medium and good Common

(Receipts, 3138) v8 8.25+:8."18 ‘ 7.25- R00 .s ' 5.50. 7.25 Ewes (on shorn hasis)

Good and choice vis 4 Common and medium

CHICAGO LIVESTOC K

Hogs 17,000: closing fairly 10@ 16c higher, spots up more; top $5.60; bulk good and choice 180-220 lbs. | $5.356 5.60, most 230-270 Ibe. 85% 5.50, bulk 270-350 Ibe. $4,906 5.10: most 130-160 | Ibe, $5.10@ 5.50. few light sows around $4.75: bulk 3530-450 Ibs, $4.257 4.50; over weights around $4.10. Sheep-—9000: fat lambs slow, around steady. good to choice wooled lambs, £8.50] B75 to parckers and shippers: best Geld higher; few good yearlings, £7, slaughter ewes about steady, $3.75¢( 4.50 Cattle--9000; calves, 1000: good choice yearlings and choice medium and weighty steers mostly strong higher: most sueh cattle going on ocder buver account; yearlings very scarce: supply highly finished weights steers small: sop being mainly medium to good grades scaling 900- 1250 'bs.: common and nedium grades steady to strong: general market slow as killers resist sharply higher :sking prices: numerous loads sold, however, with strictly’ choles vearlings up to $11.25; tev. eral loads, $10@11; best 950<1h. averages, | $10.00; steers sealing 1343 bs, up to $10.50; most medium steers, S$*@ R60; heifers, | strong: best, $10.30: supnly mostly short feds at $8.25 down; canner and cutter sows trong: heel cows slow, steady: bulls, 10 weighty sausage offerings vealers, $10 down, steady. | but slow, |

3.25. 4.00 2,25. 3.28

active, most-

and veight | to 460

up ‘ stock cattle searee,

OTHER LIVESTOCK |

L 19!

CINCINNATI, O. Oec. 18 (U FP.) Salable, 2200: total, 2825: holdover, | market fairly active, uneven, 20% 40¢ higher: sows, steady, top, $5.85: 200-225 Ibs. | $5.60; 100-140 Ibs, $4.65 5.40; sows largely | $4 down: few lightweights to $4.25 or |

above Cattle—Salable, 900: total. 925: calves, | 300: fairly active, steady: early bulk me- | dium and good lightweight vearlings and | heifers, $8.50@ 9.50. common and medium, 86.50% part load 1140-1h. short-fed steers, $0 short load yearlings, $8.75: ule] common and medium, $6.25 8: common gond fat beef cows mostly $5.25 6; practical top sausaze bulls, 87: vealers mostly 50c lower: top, $11.50; bulk good and | choice. $10.50% 11.50 Sheep—Salable. 200: generally steady light supply: few lots good trucked-in native lambs, $8: strictly good and choice no Jed offered: common and medium, [email protected] slaughter ewes mainly $2@3.

FT. WAYNE. Ind, Dec. Hogs--15¢ higher, 1 $8.5 5: 240- 260. Toe. i $4.75; 300- 428 bs, 32h. 350 lbs. $4, 58: 50 0-400 Ibs. $4.45 160 The. $5.50: 12 1

t.. 84: roughs, $4.25: stags, $11.50, Yaris $8.75. LAFAYETTE, Ind. Dec. 18 HT higher; 360. 00 200-250 Ibs. $5.10 AY as Pigs. $5.50 Hache Roughs, £4.50 down Calves, $10%10.50, Lambs, $8.25 down, |

Curb Stocks

Net Last Change 137

. $5.25: £3.25. He ie

(tr. P.).—Hoe | bs. $5.50 | 250-235 Ibs.

High Low

Alum Co Am ..137 1364 Am Cvan B 33% 33% Am Rep cp .... 6 5. 38

1008 Brewster Aero 97 Bunker Hill&S8 Cent 8t Elec .. ! Childs pf ..... 2 Cities Serv Cities Serv Col O&G Cooper Bes Copperwld Stl Ea Gas & Fuel. Ford M Ltd N. Gulf Oil vo 39 Hecla Min Ind P Line ‘ Insur No Am... Lehigh C&N : Molvhdenum

pt.

| Wright Harg

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ON THE RADIO

TONIGHT the first explosion aboard the still 7:00-Andre Kostelanetz, WFBM, smoking ship. 7:00-~Tommy Riggs, WIRE, | “The other explosions,” he said, 8:00-Radio Theater, WFBM, “came so fast that cameramen were 8:30-=Alec Templeton, WIRE, unable to get plates in their cameras an to eatech them.”

| Mr, Bowen said all Montevideo James Bowen, NBC representative | = ioiking about the sinking and in Montevideo, Uruguay, was talk-| that “the work being done is ver |ing to NBC officials in New York ilttle.” yesterday evening over a monitoring| However,” he added,

line where there w _| has gone down, as re was an inter- woud gay.” ruption,

But, he continued, “the war of A moment later those at the New nerves is really just begininng for York end heard him shout: the diplomatic service.” “Give me the air. Give me the! air. The ship has exploded.” Mr. Bowen, “given the air," cescribed the scuttling of the German | pocket battleship Admiral Graf Spee as he watched it from his point of

“the fever the doctors

” Id The radio version of the movie hit, “Four Daughters,” wil be broadcast from Radio Theater at 8, CBS-WFBM, with most of 1he vantage. movie's cast taking the radio roles, He then proceeded to give a “play- | The fourth Lane sister, Leota, will

by-play" account of the sinking. take the role originally played by During his broadcast Mr, Bowen had Gale Page. All the networks the satisfaction of knowing that his | will present before the end of the mother, in Washington, D. C.. was! vear a resume of the hest and most He had asked that she interesting broadcasts of 1939. In | be notified to tune in. |case you miss the radio show be In another broadcast today Mr. advised that Max Wylie's book, “Best Bowen reported that Montevideo! | Broadcasts of 1939,” goes on sale toe | newspapers were printing pictures of ' day,

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THIS EVENING

(The Indianapolis Times i not responsible for inaccuracies in program announces nress time J

INDIANAPOLIS WIRE 1400 (NBC- MBS)

Girl Alone fidstream Dick Reed Pessa Byrd

INDIANAPOLIS ens Net, v

Kathleen Nore Golden rs

CHIUAGO WLS-WENR 780 (NBC Net.)

Forum Serenade Anthony Dinning Sisters

Vincent Gomer Children Stories Ray Perkins Tom Mix

CINCINN M ATE (NBC. MBS)

Kitty Keene Midstream Jack Armstrong Silhouettes

TT Fred Ki rhy Baker and Nenton nod for Gifts Lowell Thomas

Fred Waring News Four Stars Inside Sports Variety Show Richard ,Crooks

Dr. L Q Ale, Tem pleton

Interviews Sahta Claus Woark<hop Sports

Kaltenbern Santa Clans

} HATA amin inin

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News um and A Good win nee

Olive Groves Seienee on March One of Finest

Pleasure Time Mystery enry Busse Carnlers

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Tune-Up Time Minstrels

Riges Sherlock Holmes

Richard Crooks

Tommy

BR id

True or Frise

pr. I. Q. " n

Aleg Templeton "n

Radio Theater n ”

10 Concert Herheek's Or,

Rochester Or, " »"

LL , Lombardo’s Or Hour Blondie “

C ontented | Hall “of Fun

Swing Forum

Conten ted Hour

Sensations, Sensations, Swing " " "

Barrie's Or. ollini's Or, . Ind, Pitt,

Altus and Andy 10 o'Clogk Final Peter Grant Ss. Kaye's Or, vs, Ro aRennedy " ”»n “

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Paul § Sullivan AV miatrane s Or, Walk .

Jack Little Mogfitt's Or.

Monn River ”n ”

Reenrdings

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Fitzgerald's Or.

TUESDAY PROGRAMS INDIANAFULIS INDLANAROL 8 VIRE 1400 WIBC 1050 hoi MBS)

Dawn Patrol Market

Dawn or

INDIAN sPOL] 8 (NBC Net.)

Be rly Birds

CINCINNATY WLW 00

w (NBC-MBS) Mornin’ .

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Devotional anch Gang

Breakfast Jam

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News "Fred Miller Salvation Army " ” Miss Juba Kitty Kelly Mvrt and Marge

Hillton Stenmother

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Alms to Shins News

Gospel Singer Kirby & White

Caravan

News

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City Today Coffer Cone Hits of Da

Kitchen “ x Fashion = Footlights r Editor's Daughter Devotional B Benita)

Man | ajarried

uife

Reflections r. Swing Charm Honse Shopninz Guide

Friendly | ous

Pub. Schools Castletime Rhythms Riues (‘hasers Rythmakers Roy and Girt

I Married Wife

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Voman in White Happiness

J inda' s Love Road of life Organ Reverles Guiding Light

— Woman Sneaks O'Neills Farm Hour

Pa vid Harom House Road of Life Against Storm

Guiding | L ight

Mare Tavlor Brenda Curtis Big Sister Jenny's Stories Kate “Smith

Girl Marries Farm Circle

A 1n:30 10:45 1: n Singin’ "Sam Dr. Malone Headlines Linda's Love

Ellen Rando! nh Fditor's Dau Litite White

Betty and Bob Grimm's Daughtew Valiant Ladv Church Hymns

Mary Marlin Ma Perkins Pepper Young Vie and Sade

Rackstace wife Stella Dallas ainst Storm M ss Julia Kitty ene Mitresn Jack Armsirong Invitation

Burean " Kitty Keen Shappers’

Nr Spnean Melodies My Son _and 1

Jovee Jordan Mary Marlin Society Girl Ma Perkins Unele Jonathan Penner Young Richard Maxwell Vie and Sade

Christian Backstage Wife Stella Dallas Lorenzo Jonee Widder Brown

Girl Alone Midstream Dick Reed Dessa Byrd

KEY NETWORK § SI IATIONS (Subject to change): MUTUAL~WOR, 710; WHX, 1390; WHKC, 640; CKLW, 1030; WSM, 85%, NBC-BLUE—=WIJZ, 760; WOWO, 1160; WLS-WENR 870; KWK, 1350.

WTAM, 1070; WWJ, 920; WMAQ 670. CBS —WARC, 369: WIR, ak WHAS, 820: KMOX, 1090; WHBBM, 770.

Karm ‘arm Ion ome Folks Markets. Weather ond Earth Renarter Rill Jones Federated Women Tommy Sutton Betty and Boh Rand Box Grimm's Dauzhter Rov Wallace Valiant Lady umber JFlease Church Hymns

1": 1: 1: 19: 19: th 12:

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— ASAD ADS

Pianorama Want a Joh? Number Please

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Seience

Musie Ralph Russell Preview Bandstand

Jamboree ’ n

Tow SS eS

Smilin’ Ed

Kathleen Norris Golden Store Hollywood Seattergood

Silent

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SAVE AND SAFE

IN COACHES AND PULLMANS

Make the Holidays travel days .:. visit home, take a winter vacation. This year there's more reason than ever to take the train. For not only ore round trip rail fares low in both coaches and Pullmans; the farther you go, the more you save; the rate per mile decreases with distance. Then, you save more than money when you go by train. You avoid highway hazards and uncertainties . . . enjoy complete peace -of-mind. You get there faster ... leave, arrive on definite schedules to fit in with your holiday time and plans.

It's so much more thrilling, too, in the gay company that fills the brilliant trains of the Pennsylvania Railroed, including "Spirit of St. Louis” of the Pennsylvania Fleet of Modernism. This year enjoy your heliday trip from beginning to end . .. go by Pennsylvania Railroad.

HERE'S SERVICE

Enjoy streamlined service at substantial savings on "Spirit of SI. Louis”. . . of the Fleet of Modernism, between Indianapolis, Washington and New York. Observation and lounge cars created especially for smart diversion en route. Latest versions of Pullman sleeping accommodations, including compact "Roomettes”, ingenious Duplex Rooms, and Double Bedrooms with every personal facility. And 4 other trains daily to New York, 2 to Washington.

SPECIAL FARES FOR THE HOLIDAYS

From Dec. 21 to Jon. 1 special reduced round trip coach tickets will be sold at the rate of 2¢ a mile for distances from 25 to 450 miles... good returning up to Jan. 7.

EVERY DAY Recently reduced 60-day coach tickets . . . good anywhere . .. anytime . . , any distance «+. are on sale every doy... the rate per mile is even less than 2¢ for distances over 450 miles, Also reduced 60-day round trip rail fares good in all types of Pullman accommodations. And low rail fares (one-way or 60-day round trip) good in upper berths. Pullman charge for upper berth also reduced, either round trip or one-way.

STUDENTS : Make the most of your vacation time. Travel on time-sav-Ing trains at money-saving fares.

Nearly all through trains carry Luxvry Coaches with reclining seats.

Give a trip for a gift! Attractive Christmas gift orders

on sole ot all Pennsylvania Railroad ticket offices.

Ee rr anaihor, May 9531 or FULL LHL

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ROUTE BETWEE AST