Indianapolis Times, Indianapolis, Marion County, 7 June 1940 — Page 29

* ~ the future.

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| STOCKS, BONDS | . BOLSTERED BY “WAR REPORTS

Auto Output Shows ‘Sharp Comeback in Week; Trade Moderate.

NEW YORK, June 7 (U. P).—/A

8tiff French resistance to the German offensive brought strength ‘today into stocks, bonds and commodities. ‘Business mews continued to

orders. Stocks gain in moderate ernment bonds irregularly higher. The pound sterling moved up as Britain instituted drastid ' exchange tontrol. ‘Wheat gained bushel and other grains were steady. Gains were de by cotton. The Ward output showed a sharp comeback from the holiday week with production for the week at 95,560 cars and trucks, ‘previous week and 65265 in, the|: corresponding | period of last Steady operations were forecas} for

ding. U. 8S. Gov-

The market| to reports in Italian shipping quarters here that Italy had ordered all Italian vessels into neutral rts. Reports that the French were holding well against the German drive attracted small buying. orders and brought increases in prices where holders of stock would sell. a result, the market moved up © ily on modest volume. War stocks featured, with steels and aircrafts strongest. Nume DUS -special issues had wide gains. road, utility, ) non-war issues joined the rise.

* WHEATP ICES LSE

HIGHER AT CHICAGO :

une 7... P) in light

Chicago Board of

| ~~~reflect impro ment inspired by war A

A fractions to 3 points A led domestic issues, a

more than a cent a|4

yainst 60,980 in the|Am

ear. | | ne!

paid little attention |as

Trade today. [Corn was irregular

PH Nich A.

FINAL NEW YORK STOCK QUOTATIONS

Bv UNITED PRESS

‘ Net High Low Close Change

Abbott Lab.... 5 Jome Steel .... ams EXp ... ddressograph.. 13 r Reduc ... aska Jun ....

Ear 1 ww 6df 612 to. ah

183

\llen Indust

4% ie 41

52 6Y2

32Va 0

Am Bank Note. Bosch ...

Br Shoe .. 33 Br Shoe pf 130 Can ...... 90%

Colortype. . Crys Sug..

Am Enc Til Am&F Bwr $7pt 13%

Am port on automobile 41 S

ArchArmot Arms

so Inv Atchison Atl C| Line .... 11 Atl Refining Atl -Ref pf A ; Atlas Corp . .... 7A i 14% Aviation Corp . 5%

Bristol-My Hy Bklyn-M T .... 1 Bklyn & Q Tr. Bruns-Balke ... Bucyrus-Erie. Budd_Mfg Budd Mfg pf.. Budd Wheel

and other grains steady at near B

minimum levels.

| Burroughs

After late scattered buying car- Bush Term

ried wheat out [of the general range | the market clased 13 to higher, July 81@807% cents. Corn was unchanged to 2 cent higher, Juily 63% @630'~ cents. Oats unchanged to 3:3 ¢ent higher, July 3314

132 cents)

cents asked, and Rye 1 to 2 ecent|S

higher, July 443. cents. | remained unchanged.

Soy “beans

Prev. close

19% a 80 .811, | Cent,

July .e Eoreiiber ase December ,...

Oats— July ......

Box ember December ....

Ju ly .e Eoncnber PEN December ....

Soy Beans—

December .... Lard—

MY. idaenens 22 September ten 45 October ..... 5. 5.65 December .... 6. 67 JANUATY seees onde 5

‘CASH

3 mixed, J Corn—No. A No.

d, $5. Ry 62n; bellies, $5.75n

WAGON WHEAT Indianapolis grain elevators are paying for No. 1 ‘wheat, 78c; subject to fmarket change; other grades on their merits. Cash corn. No. 2 yellow shelled, 60c; No.

white shelled, 68c; No. 2 white oats, 29c. WHEAT !

wi IPEG ois $. 1th | $.75 $.74 0 Ss | JT 16%

July 787%n 18

Sl i

C 1bs. é

6000; fveights 250 to 15 cents higher; weights Steen. packing = sows around

s—Receipts,

and oS strong other

Cer'n-td 6 pr 2 p

steady; oodl and | choice 180-200 Ibs. Narealy® 5.10@5. 35; few lots, $5. Ha 5.45; 270-330 Ibs|, [email protected]; around 375 lh. averages, $4.75; good 400-500-1b. sows, inosuy [email protected]; lighter] weights, $4.35@ .950.

Cattle — Receipts, 1000. generally steady] market; clearance good; medium grade [steers predominated; few loads grading good; best, $9.75; mostly [email protected]; common kinds down to $7.50; practically! everything went on killer account; feeder dealers buying a few loads and odd lots at [email protected] however; few odd lots weighty heifers, [email protected]; common kinds down to |$7; rather prompt clearance all she stock with good grade cows and choice heifers absent; cutter cows, $6.25 down; bulls scarce and fully steady; Facpigaily outside weighty sausage offergs, $7.25; vealers, $1 own. Sheep—Receipts, 2000; late Thursday spring and clipped Jambs steady: small lots native SpUD ers, $11.65; Jbulk_ ood and choice,r [email protected]; ou's, 50 @ 9.50; few good and choice clippers, ‘$9@ 25: medium to good kinds around $8; today’s trade steady; two doubles 177- 1b, fed clipped spring lambs, $10.50; best native .springers to packers, $11.25; ess phe ‘able (kinds, $10.25 sdown; load shorn old crop clippers, $8.25; good light and medium weight native ewes, $2.50@ 3.50; only odd head held - higher.

{Nell [TRI JHutual

FIRE — CASUALTY AUTOMOBILE INLAND MARINE

INSURANCE at substantial savings

Ha. 3000

Calves — 400; | Davison Chem.

| Gurfiss-Wr A".

Butler Bros

’ Butte Cop & :

Byers. pf

Cal Packing... Callahan Zinc.

Carpenter Stl . Carriers & Geni Case J I ..... Cateritilar T.. Celanese 25 Celdnese pr pf. .111 Celotex 5Va Celotex pf ...i5 Cent uirre. .. 19 ounday 2 {Cerro de Pago. 2634 Certain-teed pf 17%

102 . 33

Champ Pap p Ches & Ohio Ch M SiP & P.

| Curtiss-Wr 43, 24 Cutler-Ham ... 16% 16% tafe 415 DaynPaL cupf.107%2 ere & Co ... 15 Deere 2 Del & Hud

D&RGW pf ... Det Edison .... 9 Dev & R A . Diam Match Dist Seag Dome Mines Douglas Airc Dow Chem ....143 Dresser Mig ... Dunhill Du Pont ‘ Du Pont pf ..119 Duques L pf. 118,

i East Air fil 297; 28%

East R 3% East Kodak . 1280 13452 28"

1 9-16 3%

{ Eng Pub Evans Prod . Ex-cell-0 ...... 31% —F— vo 31 3%

30%

Fair Morse

Firestone T .. First N Strs .. Flintkote 1 Florence Stove. 26% Follansbee ... an Foster Wheel .. Freept-Sulphur. we

6 19

is TVs 139% 143

Hi 1 s

53 Ya Ya

32% 130

1415 12%, 76 143 17% 8 151% 19 115

ob ATER HH TE

HH]

+ +14

Ys Yesterday

8 Month ago

Ya 1/, Ja

4 |Johns-M pf

5, | T3Nat Acme ...

s |Kelsey- 1Hsves 3 10

4 | Nat Biscuit

DOW-J ONES STOCK AVERAGES

30 INDUSTRIALS Yesterday ........ccv000000e 114.48 Week 280 ......ccocseceveos 116.22 Month ago sevéssreeasueaees 144.77 Year ago ......: teereneass 140.09 High, 1940, 152.80 low, 113.25, “High, 1939, 155.92; low, 121.44. 20. RAILROADS 23.09 23.15 29.79 28.38 32.6%; low, 22.14. 35.90; low, 24.14. 13 UTILITIE

+1.28 +0.98 —3.40 +1.69

Week ago -

Year ago High, 1940, High, 1939,

Yesterday Week ago Month ago Year ago ‘High, 1940, ‘High, 1939,

26.45; low, 18.10. * 27.10; low, 20.91.

. Net ! High Low Close Change h perl 2 3... Gotham Hos 2% 11:16 11:16 =. Granby 3.” Ta 4 w ts Su 9Ys 9% % rand’ Un’ wcis it 10% 10% — % 30 3 13% is 18% Ya Ya

20% 10% 17

‘2 |Re

ia 1, S of A.

H oud-Her B

udson Motor. Hupp Motor

[11 Central Cent pf

C180

. 267 ’ 31% oo 1Y, . 202 2

Kenne Kimberly Clk’

Lehman JR Lerner Strs .-O-F Gl Libby McN & L sife Savers

ZRBZ2RBR SS BRR BRERR’R aoe k PPP

gm fT Sug /a R m gtd cis 1852 Mid 37% kt St R pr ‘pf 37 (Glenn) 329 artin Parry . 8'2 asonite Corp. . 23% athieson 217

w ill. cIntyre Por c. 30, ee sport

cK & Eobbins 3 K & Rob Pf. 18Ys elville h.. 28% 8 ergo] 1st or 14 erch & Min.. 13% esta Mach ... 30% cere T%

2 $d bd . 0 NX 3 NAS Rae

KS =

Hny .. in Hny B nt. 0-K Tex pf..

4 EH =~ oF

onsanto pf A onsanto pr B ont Ward

aS SSERE

115 Ay a

Motor Prod ... 10 Mueller Br ".. . 17 Mullins Mfg B. 3 Mullins pf . 22 Murphy G Myrphy Murray Myers & ‘Br

8 |Mor & Ess ....

45% . 44%

Nash-Kelv ... 41g 1773 . 10% . 17% . 10vs $e

Nat Aviation

Nat Cash Reg Nat- Cyl Gas® . Nat Dairy . Dairy pf ‘A’ 109. pt St .. Distillers . Enamel

Auto Fib pf G

teel .. .. Su Penn.. Nat 'T oe Newmont ‘Min . 39

Norf & West No Amer : No Amer 5% pf 30 No Am Avn ... 18% No Pacific .... 5% . Norwalk T 2

Ohio Oil Oliver Farm Fa 12% ibus ..

Outboard Mrne 213; Owens Ill Glass 452 —P— 4g . 26% . 36%,

Pac South % | pf. Pac G &

Pacific Fie 3 Pacific Mills ... Pac

3% 21% hy | 34 134

Patino Mines .. ot] re 2

7194

FOREIGN EXCHANGE

NEW YORK, June 7 (U. P.).—Following | are noon cable rates om major cur-

rencies: Cable Net Rates England (pound) .....$3.60 Canada (dollar) ....... .80 France (franc) 0204 Italy (lira) .eo 0605 Finland (markka) + .0200 Switzerland (franc) ... .2243 Sweden (krona) -2388 Japan (yen) 2346 Mexico (peso) .1675

DAILY PRICE INDEX

NEW YORK, June 7 (U. P.).—

i | Dun & Bradstreet’s daily weighted

price index of 30 basic commodities,

% compiled for United Press {1930-32 2 | average equals 100):

Yesterday Creer, 114.76 Week 880 .....ecvevevssceea. 115.53

Year 880 ....c..ccieoesnssesss 106.75 1940 high (Jan. 2) ......ee0.. 123.34 1940 low (June 5) ........... 11476

U. S. STATEMENT

WASHINGTON June 7 (U. P.).—Government expenses and receipts for the

Homestake .... 38 lin

3 atoway 5 rt

sae Roms ichenl

Seald

i oil : He Roebuck . Servel i

A Tpirrh Sag

15 | Union B

Month 880 ...ocevveseeessisas 121.55

Dist icott Pap ih 102, 4 1230 65 Inc 83%

Sou Sparks With .. Sperry Corp Spicer Mfg Spiegel Inc ... Spiegel pe pf. oy

r ree Superior Stl . Swift & Co . Swift Intl

Syming-G ww. . Syming-G xw..

Tenn Corp .... Texas Cor

38 4 | Tran& West Air 18%

a | Tri i-Con Twin CR T ‘pf 15 Twin Coach .. 67%

Und Ell Fish & Li 221% . 107% Union Carb Un Oil Cal Un Pacific Un Tank Un Aircraft «.. Un Air Lines.. Un Biscuit

United Cprp 152

<15 el on zc Coan 27

: Net Close Change

nN NOOO IPD nb » NR N » ~ a 2

a - ope

ON ee

fot Fb 4

Tne pa

4+ hh 6 &

- = ni > BAR RS A ga a

Re pith PLL Na

eg. wa © .r

| Net High Close Change United op, H. . 29 Un .. 4%

ChE LEE 4 HEE

"pf 111 Virginian. | By . 31%

wos Bros is Warner Br pf.

yaw Bk

1 CoD 00 = 1s RIED OO SEBO Ome oN

Sew 4%, ite SM. pr pf 1635

G oe. Overld pf 3% son & Co . ) on pf oodward Iron. 3

HAA AAAAN A Sisisisisid -

Worthington i Wrigley 1h

& T

Young Sheet y Young Stl Dr.. 10

§ —

19%: .

LOCAL PRODUCE

Heavy breed hens, 3 3m and Tw lic} Leghorn hens Bo old r Barred and Rock a 2 Ibs. ona over, 18c; No. al 14c; No. 1 colored broil ers, : No. 2, 13c; No. 1 Leghorn broilers, 2 lbs. and over, 16¢c; No. 2, 12¢c. No. 1 strictly fresh country run eggs, 12%e; each full case must weigh 55 lbs, gross; each full case under 56 Ibs. Butter—No. 1. |282@29¢: No 27c. Butterfat—No. 1, 23¢; No. (Country pickup Bis, ‘quoted by’ "the

14%

Zenith Rad ... 9% 9%

‘

FOOD PRICES

CHICAGO, June 7 (U. tatoes—Tennessee, u.. crates.

et Celery— Im Tomatoes— ch—Illinois, - California, 11.85. California, Shing. 75.| Onié t (50 1b. : New stock, Texas® Yellow Ber- . [email protected]; ‘Texas White Wax, [email protected]..

P..—Sweet Po$1470. 50.

Incorporations

Miller Drilling : Co., Inc., Evansville; amendment Shanging hame to Miller-Mc-Farland Drilling eo Be, Jugoslavenska Ze Gary; no capital as, Ia Civic and social; Kristina Schulja, Eva Radanovich, Zora Clusac, Pearl Koruga, Ana Cvijznovich. Washington County Far, ers .and Merchants Fair, Inc., Sale no capital’ stock; to exhibit live stock and agricultural products, ete.: Lee J. Fultz, William C. Branaman, Murril Meador The Wilken Family, Inc. TM inddin, Pa.; registration of trade-mark, “The Wilken Family,” class 48; whisky and distilled liguors’ of all kinds. Nicholas F. Volz and Edward 9. Sippel, Indianapolis; registration of trade-mark, ‘Blue Ribbon,” class 45; foods and ingredients of foods. .

504 Broadway,

Radio schedule and column

| “Some of the Indianapolis Board of Trade’s oldest and youngest members attended the annual meeting last night, (left to right) Reily Adams of the Security Trust Co.; Albert Sahm, a ember since 1890; and S. B. Reagan, Baldwin-Miller Co. president ) 54 joined the association in March.

2 2 td

‘Governmental Hampering' of Grain Marketing Is Criticized

{ Criticism of “Governmental hampering of our regular -marketing machinery” was voiced at the 58th annual dinner meeting of the Inianapolis Board of Trade last ight by its retiring president, sorge L. Denny. . ~ n his annual report Mr. Denny id receipts in the Board of Trade

department are disposed to glace ‘responsibility upon governtal hampering of our regular marketing machinery, as, for example, by the compulsory storage of | corn adjacent to production areas instead of utilizing available storage at country and terminal facilities, and the almost complete elimination of the commission merchant as a factor in the process of (normal . grain marketing,” Mr. Denny said, William H. Howard, executive secretary, said the Board of Trade handled 19.319 cars of grain in 193 1938. : r. Denny urged the organization to adopt a campaign to increase the membership, especially among {younger men, and said a “sound constructive plan may shortly be agreed upon. It speaks well for|s our organization,” he said, “that we have weathered this storm while similar organizations have suffered far more than we. While our mem-

m f

are on Page 27 of this edition.

bership has fallen off, we remain

9 as compared with 20,790 in|,

PRICES ON Ho

‘Times Photo.

Among them were

8 » u

continue to and civic

absolutely zound and perform. the business

exist. “I should like to see the Board of Trade assume broader civic obligations. I think the founders of this organization would expect.that of us in the emergency we now face. Our own community, as well|C

fish conservative and constructive leadership.” "

= STAN TIGHTENS "EXCHANGE CONTROL

Britain today drastically tightened her exchange control restrictions [to prevent dissipation of the Empire's gold resources and dollar credits which are needed for war purposes. ‘Extension of the control over ina, exchange dealings abol-

in the United States.

[In addition, a decree was issued banning all sales of securities in the United Kingdom by persons residing outside of the ‘sterling and French areas.” Previously such sales

under license. ban Americans- from selling secur-

functions for which we primarily 4

as our nation, needs sound, unsel-|Go

LONDON, June 7 (U. P.).—Great |

hed for all practical purposes the : present “free market” for sterling|n

by foreigners had been permitted ! The ruling thus will 3

REMAIN STEADY

|Top Holds at $5.25; 10,125

Porkers Are Shipped To Stockyards.

| : Hog prices at Indianapolis held

| generally steady today, according to

the Agricultural Marketing Service. The top price remained at $5.25 for 220 ‘to 230-pound weights. The Marketing Service reported _receipts at the Union Stockyards here at 10,125 head. Vealers also held steady with a practical ‘top ‘at $9.50 ! May Top Rents. \Juné

31 ...8 5.65 | 6663 4 .... 9 June op Repts.| 6 . 0 972 1 3090 i >

1... 363 11,861 3... 540 13,535 10,125

. Top Rcepts.

Barrows and Gilts Packing Sows 330 ja $ 3 504 4.10) 270- 340 $ 4.35- 3 $9 4.004 5 300- 330. 4.254 4.25- $d BD

4.10- Jl 3B 3.90- 4 3.85- 4. 0

: um— : Tor 5 195| 250- 500 3.50- 4,10 0-4 .80 oo iper Plas,

4.00- 5.00) Wns : Saughier Cattle & Vealers (Receipts, 233)

Cho ulls 500 900° $ 9. 78- ~11. ool Yeariings. exchised): A I eh . Sausage. bo 6 5 1300-1500 10.00-11.00 Sausage. . 1800-62 Good ys/Cutter and. . ihoy i 3 2a 5.50- 6.25° SE1 BR Ly JVeaters 9.25- '9,00-10. 00’ 8.23 nd

> D3 fam... 7.50- 9.00" E50 2.200 7 6.00- 1.50,

common 9.75

Feeder, Stocker Cattle, Calves (Receipts, 602) Steers

Ch ;Choice— 3 500% 50 9. 75- 10.25| 500- $00. 9.50-10.50"

ood— 9.50-10 50°’ 500- 750. 9.00- 9 .

8.50~ 9.50, Heifers | 8.25- 9.50

“00- 8.75 9.50- gsi 1000. U0. 8.19 7.00- 8.25

0 9. 00- 9.50 a Calves (steers) ood and choice— 8.40- 9.00, 300 down *9.00-10.50: = edium— 7.80- 8.401500 down _5.00-10.00 Cow | Calves tor 8.75- 7.75/Go0od— = 6: 75 206 down 9.50-11. 50 | 500 down 8.00- 9. °0 0- 6.25/Medium Janner . 4.25: 5.00! 500 i 17,50- 9.00 SHEEP AND LAMBS (Receipts, 230) Lambs (spring) Good and chaice $1 00-11.59 Medium and good 2.00: -10.75" Common ... .00- 9.25

Che 1100 7.50: a Steers, Heifers

Me I Chats £00 500-1000.

od— 750- 300 Mediu 500- 500.

C500-"90 900

Good : Medium . 6.2 Cutter and | common. 5.

Good and ch | Gemmon Mi "medium

OTHER LIVE STOCK CINCINNATI June |7 (U., P,).—Hogs-~ top. $ 300~ -1401bs.. : active

and ‘cutters.

$6.50@7: vealers, steady, good and

ers bulls. xbojce. good to choice. um to good, $9610.50: down shee scarce, slaughter ewes mostly 2@y

FT d.. Jun eae hi her, 220240 Bn i $5. e202 60 1bs.. sud 1

bs., $4 th 5300 lbs., $4. 80; 300. 5 Ibs.. |$4.70: bs., $4.25: $3.75: | 120-

lower: medi-'

325

ities of British’ origin here.

$3.25; I roughs.-

$2.75: calves, $10: lambs.

Kuppenheimer ae Featherwate

Your best money's worth at the price, because of its manly good

Save vy Leas wr nN, wT

AYRES’ MEN’S

the Situation!

(1) Knox "Fifth Aven’

(2) Knox TFleorehiing

Palm"

Natural color, Jose! cool braid n pinch crown style with maroon puggree band and wide brim,

(3) Knox-'

Here's a really dashing hat, with

With the patented “sizor” adjustable headsize feature that assures you a real fit. or fancy band.

'Mint Julep" .

| |

{ i { { i

i 1 i { { i A i 5

Fine braid. Plain 3

3.50

A A Se AN PAD

market] mostly | Steady excent 250-. $2.85@, fully

ep—9007 ‘spring lambs slow. 25@50 To [email protected]:

a a siren cs DENA

salen

ALAA ay

CRE

Fes TAL

looks, its cool comfort and its built-in service. Plain colors and ‘smart stripes in dark business shades and summery pastels. *

: . SUMMER SHOP, SECOND FLOOR 298, 260.270. 78

current fiscal i through June 5, pared with” a year a ot Year

is Expenses .$8,702,084, site 38, as Bar 066. 25 Receipts .. 5,224, 750, 448. 5.136, 766, 960.3

WHY FEAR TO TALK ABOUT

; - MAKING YOUR WILL? It is only sensible foresight to recognize the need for making sure your wishes for the future will be carried out, by having your [|SEe,eh: $3 Fis sitsitioc ns attorney prepare your Will, naming this Trust’ Company as Trus- hy 3 008, 309.858. 66 34.63 tee of your estate.

THE UNION TRUST COMPANY ik

Capital and Surplus $3,000,000.00 ND LIS 3 Member—Federal Deposit Insurance Corporation oy rings .. ig A . Sian Ins , n ouse 9 . Debits Besssesescesnescasensoisene 7,392,000

high ‘pinch crown, wide 3-inch brim and a very open, very cool sraid. In natural, puggree band. -

MEN'S HATS, SECOND FLOOR A .