Indianapolis Times, Indianapolis, Marion County, 1 May 1940 — Page 21
WEDNESDAY, MAY 1,
STOCKS YIELD * ON WAR NEWS: BONDS FALTER
Steel, Copper Shares Lead
As Other Groups Join N. Y. Decline.
a. YORK, May 1 (U. P).— Cocks turned weak today on further Ss rman successes in Norw ay, the| ; ritish action in clearing the Medierranean of British shipping, and! failure of low prices to attract large, volume of steel orders. Bonds also descended. broke as much as 23, cents a bushel. Cotton futures held well. Steel shares and coppers leaders on the downside, Joined the decline after resisting pressure. Chemicals weakened. Railroad and utility shares yielded grudgingly. Montgomery Ward was especially weak at a new low of 48, off 2%, and its decline had an unsettling influence on the general list.
Motors
17 ge
Wheat
|
were |
Eighteen of the retiring employees of the Indianapolis Power & Light Co. attend a nes in their honor. In the front row (left to
right) are Joseph N
. Kern, Edmund H. Bingham, John H. Albright, | Phillip Fahey, Charles Aneshaensel, Thomas Brady, Matthew Gage
Grime mee
THE INDIANAPOLIS TIMES
PAGE 19
Power & Light Co. Honors Utility Pioneers
and William Splann. At the rear tables, left to right, are Michael Griffin, John E. Marshall, Robert Mershon, John Hare, Charles M. Ellis, Albert T. Miller, Herbert Shepard, Ira W. Hart, Landy H. Lamar and Hans J. Jensen.
22 EMPLOYEES HERE RETIRED
Charles Fausset Trimmed Arc Lamps on Circle In 1887.
Twenty-two Indianapolis Power & Light Co. employees, some of whom worked for the utility or its predecessor companies since the days when Indianapolis had arc street lamps, have retired. They retired at the end of work yesterday on annuities arranged by the company, which were supplemented by Social Security benefits. The retiring employees were honored by their department heads at a dinner Monday night and were given gifts by fellow-employees yesterday. One of them, Charles Fausett of Fortville, started work for the Indianapolis Brush Electric Light Co, the first in Indianapolis in 1887 as an arc lamp trimmer and lineman. It used to be his job to climb to the top of the tower in the middle of the Circle that held the five
Corn
Stations Angola
Columbus Yineennes. Paoli Ft.
Evansville
Charleston, Monticello New Harmon Champaign,
Covington
fiscal year, a year ago Expenses Receipts . Gross Def. .
Gold Res. Customs
Official Weather
Notre Dame ..
Way ‘ve Indianapols’ “ Terre Haute ..
Logansport ..
and Wheat Region
By UNITED PRESS
—May 1, 19040— Precipi- State of tation weather 1.64 .35 2.02 1.39
High Low 70 73 76 5 74
3 0 Cloudy svn 't 12 Windstorm “ese S 14 Rain Cloudy Cloudy He Sawee's os
"H.
Edwardsport Ei
U. S. STATEMENT
WASHINGTON, May 1 ment expenses and receipts for the current
(U. P.).—Governthrough A rll 29, sowbated wi with
This Last Ri 933, 562, 493. 21 $7. 550, 368. 985. 91 760.86 4,658,520,479.50
.18,754.625.707.18 293,546.760.85
15,790,470,116.79 '269,002,243.96
INDIANAPOLIS CLEARING MOUSE
'MACY SAYS PRICE
OF EGGS MAY RISE
War abroad may bring a rise in the price of eggs in Indiana this fall, Thad Macy, educational director of the poultry department of the
!l Indiana Farm Bureau Co-operative
Association, Inc., said today. He said that he based his opinion “partly on the fact that Denmark has been furnishing England with bacon and eggs, and now the 98 million dozen eggs which they purchased from Denmark last year must come from some other country.” The Canadian egg market has already advanced, Mr. Macy said, and “our own market has a much firmer tone because buyers are anticipating some of this business.”
MORE TIME REQUESTED NEW YORK, May 1 (U. P).— Officials of Electric Bond & Share Co., ordered by the Securities & Exchange Commission to show cause why their organization should not be required to integrate under the Public Utility Holding Company Act, have requested an additional 90 days in which to file an
FINAL NEW YORK STOCK QUOTATIONS
By UNITED PRESS
DOW-JONES STOCK AVERAGES $0 INDUSTRIALS Today ...... « 1413 Yesterday ..ucceacscassanes, 14848 Week ARO ...vevveransencesy 14883 Month AZO ..cccisvanensnnss 18965 Year Ago .......0n “aakuanes 132.30 High, 1940, 132. 80; low, 144.65. High, 1939, 155.92: low, 121.44. 20 RAILROADS TORBAY .vovenrsasns Yesterday Week ARO ...covevsesnnsnnne | Month Ago Year Ago “avan High, 1940, 32.6%; low, 29 38. High, 1939, $5.90; low, 24.14. 15 UTILITIES
Tana
Clearings ...$3.692,000 Debits .. 2's
. 8.767.000 ' ANSWeEr.
arc lamps which lighted the old } park there. He was a line superNet |intendent at the time of his reHien we Close henge) tirement. . 3334 They Moved the Cow
775 334 Matthew Gage of 1414 Prospect Tig +1, St. started in August, 1889, as an lemployee of the Marmon-Perry |Light Co., which brought Edison lights to Indianapolis for the first "1, time. On Nov. 1, 1889, John H. Al2 bright, R. R. 18, Box 156, came to work for the company. He and Mr. Gage installed the first incandescant light plant in the city in the old = | Spades Barn, in the rear of the site where the Columbia Club now : |stands. The company legend is that the two of them led a cow out of her stall in the barn so that they could install the city’s first dynamo there. Mr. Albright also installed the lights in the State House. William Splan, 234 N. Delaware t., Apt. 407, went to work for the Brush company in August, 1890, as an arc lamp trimmer. He has been a clerk in recent years. Jensen Dean of Cashiers Hans J. Jensen, 933 N. Dearborn St., was the dean of the company's cashier, having started work for the old Indianapolis Light & Power Co., {in August, 1894. Phillip Fahey, 714 N. Belmont St, was a native of Ireland who went to work for the company in 1898. He was known as the fastest post-hole digger in Indianapolis. Others who retire are Charles Aneshaensel, 615 E. 54th St, mail clerk; Charles P. Balz, 1541 Park Ave, transformer repairman; Ed- : |mund H. Bingham, 2715 N. Meridian St., special representative; Thomas Brady, 622 Bosart Ave. watehman; Charles M. Ellis, Sherman Hotel, + [substitute operator; John Hare, 3349 N. Capitol Ave. watch engineer; Ira *|W. Hart, 1856 Dexter St. over2 head line engineer; Michael Griffin, 3458 Kenwood St., special policeman; Joseph N. Kern, 39 E. Ninth St., clerk; Landy H. Lamar, 650 River Ave. filling station attendant; John E. Marshall, 2437 N. Alabama St., laborer; Robert Mershon, 728 N. East St., transformer repair foreman; Albert T. Miller, 730 Woodlawn Ave., substitute operator; Herbert Shepard, 28 N, East St, groundman and Robert W. Sanford, 4960 W. 16th St., watchman.
: WHEAT PLUNGES TO LOWEST IN 3 WEEKS
CHICAGO, May 1 (U. P,) —Liqui- | dation pressure dropped wheat prices on the Chicago Board of Trade to the lowest levels in more than three weeks today. May wheat saw outside losses of around 3 cents as other grains dipped sympathetically. Wheat closed 2 to 23; cents lower, May $1.04% to $1.056'%s a bushel. Corn was off 5% to 7 cent, May 64, Oats % to 3% cent lower, May 40% bid, and rye 112 to 1% cents lower, May 653 bid. Soy beans were unchanged to 2!s cents lower, May $1.075. The selling movement in wheat was started by large commission houses in response to Mussolini's indication that Italy's position had undergone no sudden change. Stoploss selling which followed increased pressure and accelerated the downturn. Corn followed the drop in wheat. May corn steadied early in the session but deferred positions were consistently weak.
—
High .. 48
Net High Low Close Change lockheed Alreft 38, 37, 31% —12 Std Oil N J .. 343 Starrett Sterl Sterl
«1.30 | Loe — +002 Lo Ine ~0.83 | Lone Star Cem. 43's +1.33 | Loose-W Bis .. hr +2.98
ard " Eo ‘ ie
G& A... 19% lou & Nash... 568
‘2 ls by
a + la — 2's | da 12 + 1a + 13 +
Vestas saan ae
5
Studebaker Sun Oil pf Sunshine Min.
9% 2 29's 3
Superior Oil ... Suth Pap ...... Swift & Co .... Swift Intl ..... Syming Gld ww Syming Gld xw.
-1
da %
30.52 30.69 1.00 $1.32 26.66
Arras hares MacAn & For.. 33 Mack Tr 25 293% 353%, Man Ry gtd ects 31 Man Rv md gtd 16% iM Ry md gtdcts 1% Man Shirt .... 14 Marine Mid
Cases LsRLR RRR aN
Sete esRatLanenn
Sees
Tenn Corp «eo.
ls 1s} — 1a] -— 1
de
Today la| Yesterday .uveenccecencenees -e el Week ARG wuvusrssarisssiecs + | Month ARO ..isssessnnnnenes Year AR0 ......vanaviensss 330M High, 1540, 26.43; low, 24.02. High, 1939, 27.10: low, 20.31,
Stock sales were 810,000 shares compared with 590,000 yesterday. Curb stock volume amounted to 213,000 shares against 220,000 yesterday.
24.82 2W/.10 2.5 23.68
CELE sane
d . 12'g 4s 2. Third. Av Ry... Masonite Corp. 32% Thompson J R. Matchieson ... 30 Thompson Pr .. May Maytag 33% Maytag 1 pf. ‘1011s d sane MeCall or 13 15 15 ‘es i .“ cCro 18 eCrory
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wel engel 1st pf.. erch & Min.. esta Mach . lami Cop .. Ident a
dla Stl. laland Stl ot 120 inn Hnv . ymn-Moline .. Ra inn-Mol nf... ssion Corp... Pac of....
~~
Net Close Change | 8% — Wa! 21
High Low
Curtiss Wr A... 28% 281 Cutler Ham ... Na 21 4
—h Dayton P&L cu.112 111! Deere & Co ... 22% i
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Oil Cal Pacific .. Tank Aircraft ... Air Lines . Biscuit ..
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American Airlines lost nearly 3 terpreted bearishly. There were Adams Exp | a contra- Alaska Jun 6 a U. S. Steel report showing the|ahice Pp pf Xk 103 hem comfortable margin. : Allveq Stores pf 72 Amerada waa D014 Am Bosch 39% | Colortvpe. Practical Top $6.15; Am 000 hogs at Indianapolis today per-| |Am ing Service reported. |Am heavier weights advanced 20 cents. | Am = was paid for some 220 to 230-pound {Rl Packing sows cleared at steady to! [Am bulls, heifers and cows. Vealers! Arch Dan oe 40%
o Rubbers were forced down with S. Rubber issues at new lows. of Loft dropped nearly 2 points ost - of the day's news was in Acme - Steel several favorable items, however, |r Reduc .... 48 including estimates of AY a oe Seasonal rise in carloadings, elec. |{|I%8h Cop ... J tricity output above a year ago and |! I} 30ww 121% i - Alleg Lud Sti. 243 recently declared dollar dividend | Alien, Tngust a on common stock earned With &3llied Mls {Allied Stores 8% High earnings were forecast for | “hal . 34% paper companies and this sustained | Alpha P Cem.. 142 the group slightly under the pre- | Am 4 TRE vious close. Am Bk Note pf #3 Am Br Shoe .. Br Snes »". HE Can Car & F pf 1 in Chain & © Receipts Dwindle to 7000; . Am Vealers Gain. Am Am Smaller receipts of approximately AR mitted a realignment of yesterday's im low prices, the Agricultural Market- 4m Weights between 160 and 270 {RQ pounds rose 5 to 10 cents while most | An Underweights below 160 pounds did | An not change. An extreme top of $6.20 am hogs although the practical limit Am was $6.15. ! A 10-cents higher rates. Steer prices|im were about steady as were those on Ahacohds bie >t gained a half dollar with a top. | Atm “In Rf at $11. | Armstr rong Ck
| East alr PE Ray Cash Re East hye Dairy .... Dept St Dept St pf Distillers . , Gypsum... , Lead .
-
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April Top Repte April Top Stores A
2 ....§ 650 26 .... 808 2 .... 6
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8 Vadsco Sales .. Tf 1500 May 256 Atl Refining... - ‘ t ef pf | Atlas xP .“. ' » tias ar Packing Sows [Atlas Pdr pf.. {Atlas Tack ... 30- Auburn Auto .. S-
Eun
ase
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| tl yon 5
Barrows and Gilts 180 $ 43 75- 3.50 Good and Ch oS 140- 23» T0- 300.8 160- 5 305 6.00- © 6.05-
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0- 330 “an 360 { Ex-cell-o ...
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Morse .. Waldorf Sys
Walgreen Walgreen Walker + | Walker (H) pf.. Walworth “evs Ward Bak B ... Warner Bros ..
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Bald Loco et... 17 Balt
& Ohio ... Balt
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25 | Noblitt-Sparks. ~—9-16 No Amer 22% ta No Amer 5% ot 57% Am Awvn.... 223% . | No Pacific . 8% 13 (Norwalk T .... 3% J
3a
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bt DO 0 + Tad TAD rt ad in mY AM DOW - . ~
“
Mediu me 160- 200.
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| Pid | Firestone T | Firestone pf A 108% First N Strs .. Flintkote . Florence Stove. Follansbee .. Food Mach ' oster Whee Otis Steel . s | Freept-Sulphur 4/0us Stl ev 1 pt 3 i {Owens Ill Glass st Gair Robt 2% Gair obt Y Sun = Ye Bae Am Fish., 9 i c Coast 1 pf 16 1s Pac Coast 2 pt i"
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Ohio O . uss Oliver Farm Eq Omnibus Teens tis Elev ....
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7.50- 10 30 5 50- ©.50 Feeder Stocker Cattie, Calves (Receipts, 3%) steers
900- 3.7% 8.75- 8.50 8.25 9.2% B 8.00- 85.00
% 7.50- 8.50 | RENT T Gas 9.40-10.00 Cg 6.50- 7.50) | Bucerue: oe 9 i ) runs-Balke 9.25- 9.40 ted Choice. | Budd MEE .... S00 qow un 10.00-12.00 | Budd M NE a
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7.25- 8.28 Heifers
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To - a -
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ot pt
{ Pac Tin Oons. ‘33 | Pac West Ol . 234 | Packard
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Now that May is here, a reqular-weight suit
fess ° | 5 : 13 83 ~ DRWLHBID
LiL:
Cable pt.’ Ba Cigar .... 18 clear pt. 116% Electric . 3M 3 ave 48% GEE A .. Motors .. 353% Moto: pf 128 a
Adv out Adv’ A RI Pr Ink. .. 83% Ry S pf . 98 Refract . 28%
«143% Ne 22
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$ 0
10.00-10.%5 Me A
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a! ‘a ls « | Parker Rst Prt 3g | Park Utah 1t| parmelee ‘aaas { Pathe Film ... | Patino Mines. . Pon & & b Ford.
will be too warm for most days . . . you'll find
pig a
Choite— =. 900. Good— 750- 900. Medium — 500- 900
hs
DN “ NN Ee tn
NN Nee
LOLEEEEE:
pald -
that a tropical is your best bet for spring and
RR » a
Worthington .. Worthing cvprof
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wo > - RDO DOD - w
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summer comfort. Notable among the tropicals
‘ — BIC Or LI IR BODO DARNN DNB DON
- OLIINEIBIID DO — Ord
Cows vs 500 down «.$ 8.75- 1 3 Calves (heifers) | Bulova W ..... 6.25 6.75 Good | Burlington M Cutterand _ oe! 300 down 8.00-11.00 | Burroughs 10% gommon. 3.23- 8 R Medi 3 {Bush T B pf otf 11% Oanner ... ¢ 50- 5 00 down Bush Term ... a SHEEP AND LAMBS (Receipts, 12 H { Butler prot 63%
Byers, A Lambs (shorn) | Byron Jackson. ood and choice
“i Gi i » | Gillette : {Gimbel BR Hedin SN gual ol 1, | Glidden 0 . 3 | Sobek "adoit
is the Kuppenheimer 'Featherwate” . . . a
Good . Medium
Jie] Pra it
03 ae ge wr - A
o
two piece (coat and trousers) suit in either
Fd
a 2% s 233, 36 Th 8% 35%4
Bab pr pt BD a
enn Cais Peoples Dr New Peoples Gas. . Be Mat pt \p | Pere Mgt pr Pet. Milk ” Pet Corp Am.. Pfeiffer Brew.. Phelps Roa . | Phila 45! Phila Read & I T-1 i Phil .. 98! % | Phillips Jns ... ¢ | Bhullins Pet ... a hoenix Hos. | Phoenix H pt. O pf.. 93%
p th | Pitts Coke. & Ir P Ft W f an 9 Pitts Sc 3 Be “a Pitts Sil pr pf.. 3 15/Poor B .. i } Port Ric-Am A - 1% Press Stl Car. . P G
dark business shades or pastels for summer,
3
TAILLE EE] 14
or .
Fa
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: Zenith Rad ‘ens
DRE vesvesres Plain colors and smart stripes. Remember the
| Callahan Zine. | Calumet & H.. . Campbell 4.00 Canada Dry..
Can Pacific... STOCK
name, Kuppenheimer "Featherwate" at 28.50. MEN'S CLOTHING, SECOND FLOOB
Ewes (wooled) Good and choice " Common and medium. . . um. .
CHICAGO LIVE
Ho 1,000;
Fada
LOCAL ISSUES
The jollowing Shugtations by the Indianapolis Bond & orp. do not represent actual price offerings, but merely indicate the SDDroxiiiate market level based on buying and selling quotations of recent transactions. Stocks Bid Ask
Belt R Belt RR x Stk Yds pid. Cent Ind Pow 7% pid Hook Drugs Inc com Home T&T Ft Wayne 7% pid. 30% Ind Assoc Tel Co $6 pfd 10812 Ind & Mich Elec 7% 109'2 Ind Gen Serv 6% pid. Ind Hydro Elec 7% pid...
= DAN «TIMI
-
RANGE
High Low $1. 08 $1.0434 1. {01
JulX ever oe. 107 Corne— May July ... . , [Bee ‘ee Oats— May ....
July September ... Rye May .. July . ‘es a | September “eu Soy Beans— a May ... July October Lard-—— MAY se.vvnvne
Capit Adm A.. s 2 Capit Ad of A.. 39s Carriers & & Gen 2 {Case J 1 . 4 Caterpillér ro. >. | Selanese Celanese or of 1 elotex SL
Prev. Close close $1.04% ore 1.04% 063% 1048 i 0815
Wheat May Teun
—
3% — 23% | Grand "on xots. 10% 34| Granite C Stl... 14 121 Grant W a ‘ee 2% 1.{Gt Nor “ 8G North bt .“ © 38% West Sug .. We W Sug prf..137%% 02 Green H L 33% { Grevhound Cp. 15 | Grevhound 3'enf i’ ® », Grumman Air E 2¢ | Gu M & No pf 16
s — Receipts, Ya
fairly achive: get ; bulk good $§6@ 6.20. most 270- 1350 400-500-1b. packing Sows, er butcher Kinds 10 $5.50. Cattle—Receints 8500. calves, 1000; ket being conducted in rain and storm; largely steer run with wel medium weights and wel ghty liberal supply; early steady grades an 3 $ 3 $8.73@11; many light steers or Jo lings her 1a >. rs operating at §¢ ) dow sellin | Ches orp Re Slee” yearlings up to $10 30 to country | Ches & Ohio besides sizable Supply ly o Son non and medium | i Chic Gt W R otf stock st at $7 ¢ eq rs & P Sanly. $ Dulk | of these caryring prime wel IEnLY N Cay : 1066 ebrask ral loads fed heife rs. $9.30&10 30 heifer supply moderate; cows steady at %| Chickasha C .. own on cutters; $4 50 "down on light can- | Chills go rs: most beef cows, $6.50@7 5: weighty | Chrysler Be ushge bulls up to $7.25 actively: vealers| City I & F Sa active at $10.50% 11.30: few. $12 | Cit I& F ot. 8H Sheep—Receipts, 2000: late Tuesday fat | itv Stores . She: mostly strong; spots, 10 to 15 cents Cleve Graph BI or 1 load handvweight Moly Co afi . dead
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Progress Laundry Pub Serv Co of Tad 6% ‘pid . Pub Serv Co of Ind 7% pfd...10 3180 Ind Gas & Elec 4.8% pid. . 100% Terre Haute Elec Li Wie. 99 Union Title Co co .e Van Camp Milk p Van Camp Milk P Bonds
+ | American Loan 3s 8. American Loan 3s a | Citizens Ind Tel Sus 81. Fabbs Rornol nolds-Taylor Co, Ym
Wayne 5a Home T&T nd Asso Del. .° 32% 70. nd Tel 5% 60........c.c00vee . Jon ndpls P&L 3% o 68. ndpls Railway ne 8% ‘oT. . [ndpls Water Co 3'2% 66 nterstate T&T 512% 53 Kokomo Water Works 5% 58.. Ruhner Packing Co 4!2 00 Morris 5&10 Ctores 5c "0 444100 Muncie Water Works 5% 65...105 Nat Silk Hosiery 5s 4 : N Ind Pub Serv 33% 69......105%
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CASH 3 mixed, $1.07'%. 68 14 .
Tre BariaUwe
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woolskine late | 4 v uik od and choice Kinds, 310.9 0 ob: BF medi um to good Kinds at a 10.25; best clippers, 89 30: bulk, $9] @9.25; today’s tral Slow
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lf II Central .... 10% Indian Ret 84 nd Ra .. 25 Ingersoll Rand 110 { Inland Stl . 8
eat-—No. Corn—No
103 few early 03 ad clippers steady; bid- | bids Choise bet ween. ho ding best ding medium to good | ePIKins fat sheep
scarce, steady
OTHER LIVESTOCK
May 1 (U.P). —Hogs— CINCIN total, 2700; holdovers, 210. is enerally 3 cents higher on barrows and gelts and asking prices up around 10
250: total, 600. Calves, SCatile_Salable, steers and heifers gennd steady; cows weak; some : sales considered around 25 pulls again rather Slow and od 90-10. steers and heifers, $9.15 She. Goo on and medrm, eet cows, cutter fone canners anc
ple, 150. Supply small, old Sheep—Sa1{Rle relatively scarce; quol-| cons Oi er Sueady around $9.23 down; spring Consumr er pf. 103 . Rr ominating in © small Subp. | Contain 18% Jam sleady on good and choice strong | cont Bak Ripon lig) ble mostly, $12@13; medium | Gont Bak B. s down n a U. P.).— Hogs Cont <
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SPECIAL SELLING
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WAGON WHEAT
rol ianapolis grain elevators are payin No wheat, ec; subject to marke change: PIN grades on thelr merits, Cash
No. 2 yellow s 2H 59¢; White shelled, 65¢; No. 2 white oats, 70.
DAILY PRICE INDEX
NEW YORK, May 1 (U, P.).~— Dun & Bradstreet's daily weighted —0003i; | Price index of 30 basic commodities, ....... compiled for the United Press 2001 (1930-32 average equals 100): Vateiated TOURY ..cciv'cessescnnpsresse 130.33 Unquoted Yesterday Sess essssesasesen 120.74 Week ABO .cocsssessssessrnss 121.50 Month ARO cceecsrsrvsnciees NTT Yar ABO ..ccsccevvuvniessss 10810 1940 high (Jan. 2) 123.34. 1940 low (April 2) 117.486.
Nickel . 20%: t Nickel ot. 128% P&P . P&Pe of 1% Ry C Am 3} Cc Am of 51%
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FOREIGN EXCHANGE [3
NEW YORK, May 1 (U. P.).—Following are noon cable rates on major currencies: Cable Net
Change England (pound) —. 02% Canada (dollar) —. 002 France (franc) Italy (lira) Belgium (belga) Finland (markka) Switzerland (franc) 8 | Holland (gullder) ..... ® | Sweden (krona) Norway (krone) Denmark (krone) Japan (yen) ... Mexico (peso)
LOCAL PRODUCE
Heavy breed hens, 5 Ibs. and over, 12¢; Leghorn hens, 7c. old roosters, 7c; Barred and White Rock broilers, 2 Ibs. and over, 20c; colored broi ers, 2 Ibs. and over, 19¢; horn 0 Ibs. and over, 18c; No.
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3 enn FOOD PRICES Go. May 1 (U: Pc ABR sade la ro California. crates, $1.713@ : Gauiitioxe ots Call fornia, rates ATAES
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