Indianapolis Times, Indianapolis, Marion County, 27 August 1940 — Page 13

Frannie CR

TUESDAY, AUG. 97, 1040 ___ = THE INDIANAPOLIS TIMES STOCKS RALLY: |

~ US.MAY DEPEND ON|_ Lorgest Tin Mine in the World TIN FROM BOLIVIA San gone MES SM

PAGE 13

ON THE RADIO

TONIGHT | The day's mail reveals that: 6:00—Missing Heirs, WFBM, Silver Theater” will return to the 6:30==Information Please, WLS, air Oct. 6. And “Screen Guild” 7:00~We, the People, WFBM, returns Sept. 29 , The curtain on 8:00~Tommy Dorsey, WIRE, the “First Nighter” winter season opens Sept. 3

which Senator of Oregon ac-

Coppers, The address in ; Charles L. MeNary Rail Issues Show cepts the Republican Vice Presiy y {dential nomination will be broadMinor Gains. {east from Salem. Ore. tonight at o'clock by both WFBM and WIRE G. O. P. national chairman Joseph fr W. Martin Jr. will deliver the notification address, » » James Roosevelt, the eldest son, will he on Please” with the author, Christopher Jimmy Roosevelt's hrother, was on the show some time

is a fireplace in Roception Room from which most of President Roosevelt's. “fireside chats" origi nate But the President gpeaks from a microphone-lacen desk the far end of the oval room. (Each network has two microphones, in case one fails) The networks agree before the broadeast how much time is to be taken for the preliminary announcement This has heen worked out sa carefully that three separate announcers frequently finish simultaneously in their separate broadcasting booths Usually about the broad: ast, ply announcns All preparatory everyone

There actually the Diplomatic

If Shipping Lanes to Far East Are Closed. Destiny of

American Supplies Will Fall Into Lap Of Powerful Simon Patino.

YORK, Aug. 27 (U, P) rallied today after an lower opening and near registered

NEW Stoeks regularly closing time small advances increased morning then recent light pace, Steel shares were supported after fractional losses had been registered in leaders. Motor shares had minm gains late in the day and showed advances of nearly a point [rom the early lows, Coppers were (firm on improving demand for copper metal, Outlook ings and income railroad

at

Times Spenial » NEW YORK, Aug. 27.--If ever-increasing Japanese pressure in Asia should close America’s shipping lanes to the tin.rich Far East and if Germany should seal Rritish merchantmen Eurepean harbors, the destiny of Amer ea’s vital tin supplies would fall right in the middle of the plump lap of a once-poor Rolivian named Simon I. Patino.

Today “Tin King” Patino, one of the world's largest in-

dividual producers of tin, owng 60 per cent of Bolivia's PORKER PRICES

tin mi appreciable

gource of the precious metal in the Western Hemisphere Patinos sensational rise from 25-Cent Spurt in Local Quotations Boosts Top To $7.65.

humble origins in Cochabamba, Bolivia. where he was born during the American Civil War, to a fortune variously astimated between 1350 and 00 millions is largely due to a woman who said “neo.” Had Humble Start tino became a mi Ch 3 9% Patino became a miner acel ted as much as 25] x Mad 6 A 1) | ® Area n clerkship Imdianapolis today *Mmal to $7.63, the he Aly to A tn mine September, paviment £230 a debt-ridden pros. ) ) \ ng 8 : jenitural Marken erve pector owed store, Patino set i wal Marketing Serv A&A LM] tin 1903 to work a acre stake reported that weights over 169 ACdLE Log TAh : . ed yo Afr Red In the Migld Andes waster high were 10 to 23 cents above Alas oa nea county yesterdays prices with porvkers 1 Su was with him The first weighing more than 210 sharing the nd foads Patino ove that fall advance, Lighter weights also footed llamas carried down were quarter higher, the ueacherous Andes Ak The top was paid for good and aved Neh. Within a vear an Amer- choice 220 to 230-pounders. A week fean Arm was offering Patino what ago the top was $7. Vealers sold then weamed 0 him a fabulous price steady an $11 top. for Salvadora vein The Marketing Service attributed Then the woman said “no > Pa ve advance to declining receipts Kept his properties, His wife to higher retail prices for fresh riaht He proshered. bought Anh estimated 8000 hogs were, mi prospered hipped to the Union Stockvards : ere today, 2300 cattle: Y00 calves, War nd 3000 sheep

a majority

Tonight President s “Information, well-known Morlev Elliott, ago,

‘he the

slightly fell baek

in lo

Volume and

» ~ Superstitions will take a ing from Bah Ripley Friday, 13 He's bringing back his radio series that night and will spend the first program in debunking superstitions.

~ heat - Sept. minutes before attendant sim“The President work stops and Mr. Roosevelt enters, waves a greeting and takes his seat at the desk Immediately the tinkering and last-minute equip=ment checking goes on again, As the “air time” approaches, the radio men go to their posts in the booths. No hand signal is given to Mr. Roosevelt, He can hear the hum and mumble of the announcers through their cubicle curtains, When these sounds cease, he knows thev have completed their “presentation.” (The President never is “introduced” —alwavs “presented. Ant then the listeners hear the familiar “My friends

THIS EVENING

(The Indianapolis Times Is not respinsibie for mmaccuracles in Program Announces Otis Elevator preferred ments, caused by station changes after press time.) Investment fiemand and Yehiconce INDIANAPOLIS INDIANAPOLIS on the part of holders to sell aldec FRM 1204 WIRE | doo high-grade shares CBS NET.) (NRC-NIBS)

WHEAT BOLSTERED | i5-i rar shie™ BY SHORT COVERING

Javee Jordan Home Edition World Toda Col. Knox (t, P= holstered

Caral Marsh Dessa Rerd Freddie Miller Joe Venuti Syncopators Nick Reed late dealings today, also

10 an

ge car load- rises

high net some | small

for increased indications of a for carriers helped stocks to register gains, Chemicals were steady, nils mixed and mercantile issues firm, Favorable retail trade yeports| helped the latier Aireraft and tire issues were little | changed. Loft featured in activity and gained nearly a point. A 15|point rise in Worthington Pump [preferred A on one transaction Was the widest change Several special point or more, Watch, United Millis. Losses

neg—=—gole ”

NBC has a

» singer named Yvette singing all her songs either in French or French accent—and she makes no secret of birth in Birmeingham, Ala, Her real name is Elsa Harris,

High in the hills of Bolivia is the world's largest tin mine, at Llallagua, Bolivia, In the foreground

® the mill: in Aistance ix the village at the mouth of the mine,

FINAL NEW YORK STOCKS

Be UNITED PRESS

DOW-JONES STOCK AVERAGES | 2 INDUSTRIALS Mun "nn 1" 1am 3 12.8%: Law, 11034 ISN 92: lew, 120.4% 20 RAILROADS Yesterday 2M 8) Week Age Caisse « WAR Month Age titasriasie NW Year Age MWK High, 1910 28%: law, M04 High, 1939 35.90: law, 2044 15 UTHINIES

» ” » “Quiz Kids,” the new summer that clicked with listeners will change from its Friday night temporary spot to Wednesday nights at 6 o'clock over NBC-Blue. The five smart 5 to 15-vear-olds have been pinch-hitting in Alec Templeton's place

s— i - show this

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Yesterday Week Age Manth Age Year Age High, 1940, High, 1939,

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Johnny Presents

Horace Heldy

Nis Missing Heirs Revue " " "

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Aug, 27

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Prof. Quire

NotifieationMoNary Notifieat'n Musical Amer.

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Glenn Miller News

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new corn positions

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Septembey TI BT off '« to up 1 cent, Sep1K]! cents. oats up nin Basebhal f

September, 28! cents, News Want AN Ray Herbeek Outside oki cent higher, Sep- rt 8 — Looking In — asked Sov V1 Record Program Musto Fan Want Deke Moffitt

beans cents higher

1393 R30

on his tin closed

emp Pati miler from Bootle, a town near Liverpool. In bought a controlling

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and

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or Corn tember corp 3! 33, 8 zs tO 14 Tex G 8 2 and rve Tes 3S. $s tember were 4;

Third Av Ry en Aa May setting a new Transamerica late trade. October on: yw 73 cents bid TrisCont Quiet conditions prevailed in the Twin O) wheat pit most of the session and price movements, although narrow, were somewhat irregular, Liberal bookings to-arrive and fears in some quarters that the spot trading basis might develop an easier tendency caused some uneasiness in the corn pit. The September delivery remained under the| heaviest pressure while the new crop months rallied to fractionally higher levels shortly before the close

Cemestic smelters Tae

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WEDNESDAY PROGRAMS

VIANAPOLIS WIRE 1100 INBC-MBS)

Dawn Patrol Maiket Reports

WWE eww

NE ow

with 11:30 season's high in beans closed at

Raymond Seott Moon River

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RA. & Pies 18

gmelters Wh) Soon end a pumme The with whom

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touch on 3 » ny nF ay a 2 y the building of a large U. 8. smelter

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Portia Rlake

Man I Married Midstream Fllen Randoink Kathleen Norris

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Mary Marlin Mary Marlin Ma Perkins Ma Perkins enner Youne Penner Young Vie & Sade Vie & Sade

"Backstage Wife lackstage Wife IN Melody Matinee Stella Dallas Stella Dallas mm Hits and Bits Lorenzo Jones Painted Dreams Lh) y y Widder Brown itty Keene

Kathleen Norris Gir) Alone Hannaly Beautiful Life Miss Julia

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ready the Phelps Dodge Corp Request Time

8 Seattergood 0'Neills

T Walty Time Hedda Honper Javee Inrdan OED Yoduy | KEY NETWORK STATIONS (Subject to Change): | MUTUAL-=WOR, 710; WHK, 1390; WHKC, 640; CKLW, 1030; WEM, 850, NBC-BLUE-=WJZ, 160; WOWO, 1160; WLS-WENR, 870; KWK, 1350, NBC-RED-—WEAF, 660; WTAM, 1070; WWJ, 920; WMAQ, 670. CBS—~=WARC, 860; WIR, 750; WHAS, . R20; KMOX, 1090; WBBM, 770,

J, S, FARM INCOME cosets es MAY NEAR 9 BILLION

WASHINGTON, Au. 27 (U, P.) = —National banks had greater total assets and deposits June 29, the |date of the last bank call, than on WASHINGTON, Aug. 27 CE any previous call date in history, |The Bureau of Agricultura }C0= olla nomics predicted today that cash Comptroller of the 2 Outrency | Pres= farm income, including Government ——" payments, would total approximatea ly $8,900,000,000 this year, an In+ 301 i crease of about $360,000,000 over 1939 mixed and the second highest for any year since 1930. Farm income in 1937 | totaled $9,111,000,000. This estimate, the Bureau said, Indianapolis grain elevators are paving assumes the continuation of the or No. 1 nvhent 86. Subject to market! European war, and is based on in. corn No hat de hehed Mts gnal come received in the first seven white shelled. 68c: No 2 white oats. 278. | months of this year and prospective WHEAT prev marketings and prices during the Low Close Clase last five months of the year. Tish | tinea 1a | The gross farm income in 1940, is expected to total about $10,150,- | 000.000, the Bureau said, compared with $0.769.000,000 in 1939. This figure includes Government payments, which, the Bureau estimates, may be slightly less than in 10839 Then they totaled $307.000,000 | The Bureau said that the farmers’ cash income in the first seven months of this vear totaled $359. 000.000 more than in 1039 and Government payments were about the same.

CHAIN OF MACY & CO.

mentally refin Bolivian ores

Hill

me

"Around

Hugn Monaco Town

5 NTS ITP »w

t smelter at Laurel Stare of Printing -

Hugo Monaco

Six Hoosiers Lowell Thomas

Cal Pae

Calumet & RW Campbell Wy Canada Dry Can Pacific Capit Adm A Carpenter Kt Case J 1 Caterpillar 1 Celanese Celanese Celatex

Receipts, 11.000; act ¢ _Digher. spot: up more on \eighing 230 1b: and up. top. ST 6} 190.240 ibe XV AXA YY 8) 180 £8.13

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BA and chow 1% Bh 8% ING Boll 300-350 1B 00.350 30-400 bs BR 450.300 : Cattle—Receipty, If calves, 1000: an. pile aetive FOG choice fed steers with weigh choice ine yearlings and \ sets ruling strong to 23¢ hy Roles nes showing most advance: choice vearlings sharing vearling st all other grades steady. pa ghtwel ah offerings: cows and ) arm. bulls strong to higher: lai gely tel Most observers attribute this teed run: top early, 10: some held s Rh oad mediun ah nd \ to unstable Bolivian economics and toa Wh ang v Na \ high taxes rather than to depletion of reserves ut even worki mder the most favorable conditions such as exist at Bolivia cannot hope to produce much over 80.000 tons a vear—about two-thirds of the U. 8. normal needs

v bugs

thing

ale man Far one vian primary tmpure. 1 must be mixed with Tigerian or Ma Javan ores pbjected tao a rieky expensive electrolysis process, to produce first grade tin nn the second place, duction has frequently of the quotas allowed by

Cem A hBid

LLP ww

--

re —

CASH hard Tie Carn Nn 5 whit The. No. 1 vellow 1 vellow AB's. Onts- Ne 2 poate A 204, white, 20,0 No ties. Barley feed Ade. nominal, Cash loose, 85; asked

ore 8 Ihe

“4

30 Ibs, SARS Wheat No 4 mised main R41 BSc mixed white grade KLLARY white Beans 6c. No nomina Provisions leaf, $5.12

~~ 5 wh

White Mot White Rock Willys Ovring Willys Ovring of Wilsan & Cn Wilton nf Woodward Woolnorth Worthington Worthing ni Worthing nf

Mack Tv \lacy RH Manatt Sug Mn Ry mod gtd Marshall Fla Martin (Glenn) Masenite Corp Maviag MeCraty MeGraw El MeReespor: MeRes & Rob McK & Rob pf Meliellan St Melville Sh Mesta Mach Midland Stl Minn Hny Mo-K Tex Monsanto 3a 33a Mont Ward 104° py Mor & Bes \ \ Murray

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heavy ! ve 2 vellow, Rc malting. 436 8%¢ malting. 4841 56¢ Lard, £400 nominal nominal: bellies, 87.37

LOCAL GRAIN

CASH Wheat - Strong receipts 3 No red, 87'x668',6: No. 2 hard. 664¢6%¢c, No

- 20

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GUARANTEED

WATCH REPAIRING

AT OUR USUAL LOW PRICES

"RITES :

en Dealers JHutual

\i FIRE — CASUALTY

carloads red. 66',00 2 hard, 65

present Abs NN Western steersy cutie cows, S8@ Pe LY sausage His to! Coca-Cola Colgate-p.p Colgate pt ¢ \ Col Fuel & Irn 1! hanarweights [Col Broadcast A J Westerns, $10: few | Col Broadeast RB 15: odd head ewes, $3.95) Colum tas $2.3504 3 50 today's t rade | Com Credit ambs slow: few early sa Wi om Inv Ty some Rood handvweights | om Solvents HY 30 Bh 1 | Com with X Ro 30: ne Westerns fComwith Edison around steady at Cang-Nairn Cong Cigar eis cong Cigay Conprmne Edison Film La onl Cos

vearl SRS $9.63

RSID WE »

i7'.¢: No. 1 1 66¢ Corn vellow

Clix nax Moly Co 28%s Rad

ead Zenith

5 8G UB «HES

receipts, 40 carloads . i 2 No. 3 vellow tang 9 33% RK Siek | tue: white corn. 84i9¢c over vellow: ! corn, 16 2'¢ under vellow alt ous io, Government Bonds “oi vin 0

receipts Acme e. No, 3

Aviation Biscuit Dairy Dept St Distillers Gypsum Gypsum pf 8 Lead 1 Lead nf BR 14 Pwr & Lt Steel Penn Nay Sup 6 nf Nat up 8, Neisner Newberry A Newport Ind N Y Centra! NYC & St t NYC omnihys NH & NH

Steady 501, 00 6C

No 26,

carloads white

striely Nah Nat Nat

Incorporations

U. & GOVERNMENT BONDS

High 102.22 102.18 108.11

Sio3e WAGON WHEAT ( . 102.18 108.11 100.5 1311 108.20 110. 119 11 ‘ t 103 10% 1n3 103 108 108 108 10

435-15

nois St, of

who Maryland

Low 1956-54 03.. 1943-4) 1945-43 1946-44 1954.44 1947.43 1949.48 1952.47

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110.30

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OTHER TiV ESTOCK fa

Cons FT. WAYNE Au } 20.

tons Cons 1 Pos E iy 40. 80

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Rog : nar nares t

Cons Hs Cons

8.98

pf 108 106.13

{1R AR! \ 1285.80 108 12 10810

2

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Corn and Wheat Region High Low Official Weather 1932.44 LIBR ny

a } } oe . ' 0

LOCAL ISSUES

The following ountatians be the Indian. ‘apni Bond A: Bhare Corp. dn not repre. sent actual price sfferings. hut merelv in. dicate the apnroximate market level based on huving and selling quotations of recent transactions,

Rome Owners Amer Amer R Am Awvn

Pacific Nara alk T pot

5 LAFAYE ¥ BALE Hons IRIE RAVINE | Ine Vy athe 15 aa 260.323 NT rausths A { 2 In

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th don »

$1) 12 ¥ Be

N 3410

FOREIGN EXCHANGE

NEW YORK Aug 2Y 0 Falloving closing cable rates maior eur Cable Rates Nh A ad $4.03

State of weather | Cloud:

Precini tation

ev of Crk cunt Zeller Teller Sug

Pres

| Stations Notre Dame Angola Wheatfield Rochester Marion Latavette Cambridee City Columbus Vincennes Paoli Ft. Wavne

Crown Low

Crown Crown Cub-Am Cudahy canes curtis. Pah Curt Pub nt curtiss-Wy curtiss-\Wr A Cutler-Ham

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Agent

Gary agent, Simon Gan stack 30 tailoring mon Moor

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real

agent, \ . Linton: ho capital principles and oppose ft sur ance underwriting afilo Mitchell, William Wal re Co... Indianap

The Automotive Armatu

ls: dissolution

LOCAL PRODUCE

nents. 12¢: bareback hens, Leghorn hens 9c: bareback Leghorn Barred and White Rock spring ather 0 olor od heavy breed SHURE. Leghorn springers, 12¢; barebac 1d roosters, &¢ A large D di. medium esses, 13¢: No. 2 1le 1 991,630 bh J A AE J No. 1, 33¢: No 2 Jc prices by

¥ OOD th ES

CRICAGO. Aug °F Peaches Ceorpis E} bert ae _ Celery Anehigan Tomatoes N A Spinach . Lettuce—Cali2 EL "n Sneet Potatoer hy. S100: 8% Onfon May Ae caeke) fone Yellows, 82'%¢ Sueet Spanish $1 NEB Cail s—Sueet Spanish, $1.40,

Heavy breed

Se

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= mM % Bre: +3

Timer Michigan Celiorege cr feria CTATe: Yernis erates Terresiee

Sa Rl

|bon Chemical & Rubber Co.

the VRMOUS natural raw

0001 0001

2X14 . 2000 008%

ROSS THOMAS HEADS

Mex co (peso)

NEW RUBBER FIRM

" 29

NEW YORK, Aug. (UO. Pl Ross W, Thomas has been elected to! head the recently formed Hydrocar-| formed | jointly by the Phillips Co. and the B. F. Goodrich Co. to manufacture synthetic rubber, it was announced here today. The new organization opened its offices this week in Akron, O. It was formed to manufacture the principal ingredients of synthetic ribber developed by Goodrich from materials, par-

ticularly petroleum

| { |

HAYNES NAMED MANAGER PITTSRURGH., Aug. 27 U H. R. Haynes has been appoint. ed manager of glass block sales of the Pittsburgh Corning Corp, succeeding D.C. Burnham, who has become manager of plate glass sales of Pittsburgh Plate Glass

‘Co, it was announced today.

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Co $6 p ‘ & Mich Elec 7% Iu . 13nd Gen Serv 67, pf ‘ Ind Hvdro Elec 7 'a | dis Gas com Ind Hvdro “Flee “| | Indpls P&L 67, pid |Indpls P&L com “ans "a | Indpls Water 5% pre a! lincoln Nat Life Ins com 4/N Ind Pub Serv 5!'y% nt :|N Ind Pub Serv 67 pfd 'sa|N Ind Pub Serv 7% pid 34! *Progress Laundry com | Pub Serv vo of Ind 6° pfd... | | Pub Serv Co of Ind a" pid 12 (80 Ind GRE 4.8% Pla t | Terre Haute Elec pid 1 Hl {Union Title Co com ... [Van Camp Milk pd . Van Camp Milk com

Ronde

American Loan 5s 5) American Loan Ss NY Citizens Ind Tel 4'q8 61 Crabbs- Reynolds-Tavior 5= 42 oHme T&T Ft Wavne 3's Home T&T Ft Wavne 6: 43 {Ind Assoc Tel Co 3's 70 Indpls P&L 3'4s 70 Indpls Railway Ine St 8% Indnls Water Co 3':8 66 Interstate T&T §'os Kokomo Water Works 5¢ 58 Kuhnsr Packing Co dl: 49 Morris 8810 Stores 5s 50 Muncie Water Works 5s #3 Nat Silk Hosiery 85: 42 N Ind Ras Serv Fs RO |N Ind ] 41:8 88 Pub Serv of ‘Tn d 4s 30 Pub Tel Co 4'yc 58 9 [Richmond Water Wks 88 87... 1041; ta (Trac Term Corp 85 57..cevvens Tha

Finance Corp com .... a 9

568 8 15'% 53

DAILY

| Month

Indiananolis [erre Haute Evansville Washington

PRICE INDEX|

NEW YORK, Aug. 27 (U.P) .—| Dun & Bradstreet's daily weighted price index of 30 basic commodities, | compiled for United Press (1930-32 average equals 100): Yesterday Week ago ago YOR ARO coccssscesesnnsnns 1940 high (Jan. 2) 1940 low (Aug. 19) iienvvnnnes

U. S. STATEMENT

WASHINGTON. Aug. 27 UU P) —Government expenses and receipts for the ecurrent Ascal vear through Aug. 24, compared with a vear ago Thit Year st Year $1.300 076 OBR NR 81 i) 788 632.45 121 550 462 AAA 268.815.10 B56.519 7537.35 1! R36.383.507 33 9 331.808.074.512, 347.665.608.683 1.700 4.2 085.00 1 656.870 023 07 431.802.207.841 43 40 874.621.617 24 20,831,295 328.71 16,575.165.358 91 43. R70 5RR.N2 46.454 354.50

INDIANAPOLIS CLEARING HOUSE

Clearings . $2,138,000 Debits (iviiniriniiaarinsrenaanes 6,343,000

—~ Dane Tons mB

EE -

Cloudy

I

113.62| 112.88 | 113.56 103.12 | 123.34 | 112.42 |

SAREE RRR RR ER FARRAR RARER

CRANE

Expenses Receipts Gross Det Net Def Cash Ral Wark Bal Pub Dent Gold Res Customs

| NEW YORK, Aug. 27

|open an

® STORES IS HINTED

4 Possible establishment of a “Macy | chain” of retail stores throughout | the country was foreshadowed here | today in the announcement that R. H. Macy & Co. is planning to “experimental” branch out- | let in Syracuse, N. Y. Jack I. Straus, president of the company, stated that the new store | will be opened within the next 60 to 90 days and indicated that, if it| proves successful, it will be followed by similar outlets in other cities.

CHECKING

P.) | f

AUTOMOBILE INLAND MARINE

INSURANCE at substantial savings

WA-2456

ACCOUNTS

With Complete

(Commercial Banking S

LLL] 0

FIR TTR

ervice

TIONAL BAYK

napolis

Penneylvania and Market Sireete

CII A A NR