Indianapolis Times, Indianapolis, Marion County, 7 September 1940 — Page 9

SATURDAY, SEPT.

1940

THE INDIANAPOLIS TIMES.

PAGE

WAR, POLITICSRULE STOCK PRICES NOW

Chart Sharks Quit as Market Shows It’s Pulling for Britain Even Though the Long View of England’s Fortunes Is Dark. By JOHN W. LOVE

Times Financial Writer

CLEVELAND, Se been following England aroun which intimated that the war Chart sharks tossed their graphs out of the window weeks ago. Averages theorists jumped out. The market has been ruled war and politics, and though the experts in sampling have been doing for politics what the Dow theory was supposed to do for the stock speculation, nobody but the astrologers would be sure how the war would come out, and even they read like an investors’ service. As it was observed some time ago there was a chance the market would behave indecently upon a crack-up of England, on the old rule that the bad news would be out All but the re-election of Roosevelt,

let us sav. and that might then be forecast correlatively.

Sad Years Ahead

Dt.

by

11 i

summer ihe market has shown half a dozen

its short swings this times that it the hland, and its dreams it Hebrides. More important is the inkage of British and the long reliance of Amer-

blood is the heart is

true

mn sees

UsIness investment abroad upon Brith sea power and the certainty that overturn in Europe would lead to reorganization of our export SINesk, = Whatever the short turns in England's fortunes may be, the long view verv bad. It was bad before the war opened. On the eve of the war a British author wrote in “Army Ordnance”: “We see the British Empire falling into a state of decay; the West Indies are derelict, Newfoundland in the hands of the receiver, and New Zealand 1s approaching bankruptcy, whilst 80 per of the recent Australian loan on the laps of its under-

a1

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path » Writers.

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No More Booms

Obviously, the outlook has not been improved by the war. In Newsweek's issue a week azo Ray Molev wrote: “Three items—interest and dividends on England's savings, her banking business in many parts of the world and the payments on ocean freicht she has been earning —pffset in large part her unfavorable balance of imports and exports. If Britain loses all or a considerable part of -if she exhausts he: savings abroad for the purchase of miunit if Germany makes mroads on her banking and her ocean freicht business—Britain will be without the means of obtaining enouch food for her many millions of people except bv trading manufactured goods for it “And if the continent is shut off to her. an® if the United States and Canada refrain from taking enough extra goods, or granting credits or whatnot, England simply will not have the means of feeding 60 million persons.” The market might ride five points with England any week, but never to another boom, as often did in the last century |

Curb Stocks

Net Close Change 163! 34; 24°

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U. S. STATEMENT

r

WASHINGTON, Sept. 7 (U ernment expenses and receipts fiscal year through Sept with a year ago This Year $1,632,311,400 87 854,248. 722.25 778.062.718.62 763.230,818.62 .'2.471.678./946 78 1,737,995.130.13 43 911,630.751.39 20.971,191223.13 51.330.008.64

Sug 1

P.). —Govfor the current 5 compared z 3 Last Year $1,777,650,100.75

xpenses EAPeRs 842 409.924 61

Receipts Gross Def... Net Def . Cash Bal Work Bal. Pub. Debt Gold Res... Customs

935.105.926.14 2,229.672.578.73 1.536,983.630.56 40,932.735.632.99 16,715,665,966.94 56,596.004.56

INDIANAPOLIS CLEARING HOUSE

O00

Clearings 3:u0n

Debits This Week ue $17,799,060

led EY 11,219,000

Debits

LOCAL PRODUCE

Heavy breed hens, 12c: bareback hens 11c: Leghorn hens, 9c: bareback Leghorn hens. 8e: Barred and White Rock spring- | ers le; other colored heavy breed springers 3e: Leghorn springers, 12c; bareback | SDT os. 10c: old roosters, 6c Indiana Grade A large eggs Grade A medium eggs. 18c; No Rutter—No 1 30@ 30! N ogisc; butterfat. No. 1, 25c Country picsup prices wadley Co.)e

230c:; 9

Indiana 12¢ e, 2. 24¢

quoted by

c 298%

the |

7.—The stock market,

was pulling for Britain. |

American |

935,240,176.14 |

d, leaps to a remark of Hitler's might last four vears.

PRICES ON HOGS

which has]

More Factory for More Airplanes

ARE UNCHANGED

Effort to Cut Quotations,

10 Cents Resisted Successfully.

After an hour of trying to hammer hog prices down 10 cents, buvers at Indianapolis today agreed to pay the same prices as those paid vesterday, the Agricultural Marketing Service reported. The top held at was established by cent slash in quotations pounders and over. Raceipts her> today were mated at 125 cattle, 25 calves, hogs and 35 sheep.

$7.15 where it vesterday's 35-

esti2000

Repts, 97RT 10.21%

Ton 50

Rents. Sept, 2000 3 2.15 1 Tacking Sows - 900. '$ 6.10320 0n350. . 75-

Barrows 120- 140 $ 140- 160 160- 1R0 200 220. 240 270 300 330 360 6 15 m 200 5.90Slaughter Cattle Choice— 750- 900 $11 50- BE 900-1100 1100-1300 1300-1500 Good750- 900 900-1100 1100-1300 1390-1500 Medium— 750-1100. 1100-1300 Common — 750-1100 6.50- 8 Steers, Heifers Choice— 500- 750 Good— 500- 750. 16.00-11 Heifers Cholce— 750- 900. 11.50-12 10.25-

8.00-10.2 8

an:

8 Good 0- 400 100- 450, . 450- 500 5 Medium 250- 500 4 75Slanghter 2 0- 120 4.90- 5.2¢

5025- 5 00- 5

su

‘ealers (Receipts, 125) Is excluded) 6.50- 7-30 5.75- 6.7

5.75- 8.30

Bul (Yearlings Good $ 25 Sausage 25 Medium )ICutter and common, Veal

137 12.25-13.2 10.25-11 30! 10.25-11 10.50-12 10.50-12

5 Good and 23 10ice \Common and i

10 00-11.00 7.50-10.00 600. 7.50 0 etter; Stocker Ste

25)

800-105 8.00-10.%

MRecerree, |Choice— | 500- BOD. 800-1050.

9.50-10.25 9.25-10 60

8.25- 9.25 8.25- 9.25

7.25- 8.28

1725-12

500- 800. 800-1050... Medium— 00 500-1000... ‘Common— 11.50, 500- 900.. 6.25- 71.25 | Calves SSuners) 25!/Gond and cho | 500 down 10. 00- 11. 40 00 Medium— | 500 aown_ 8.25-10.00 nn Calves (heifers) 3.85 Good — C 500 down. 8.75-10.50 common 5.00- 6.0) Medium-— Canner 3.50- 5.00 500 down. SHEEP AND LAMBS (Receipts, Lambs (spring) Good and choice Medium and good. Common

6.00-

33)

..$ 9.508.00- ¢

75 25 ee wee 6.59- 7.75 Ewes (wooled) Good and choice Common and medit

CHICAGO ) LIVESTOC

Hogs hardly choir to tes rtone ahe op

3.00 75

2.95 1

500 le

enough good conditions RS For the after a recent $7.40 light

Receipts hogs actior ur declined

e on

500: calve none. For choice and prime steers continued active and 25 to others around 150c lowe: heifers steady. others off 25 50c and bulls 25c lower. vealers : r and feeder cattle higher top sters, $13 85 vearlines, light yearling heifer top

€ None. For 15@ 25¢ higher

s

25¢ long $13;

the week lambs genWestern lambs little changed. vearling wethers 23c higher. ewes steady week's top spring lambs, $9.50 tlv good and choice springers. $9.25@ common and medium Kinds, $839 $7.50 down; vearling wethers. $7.85 best light ewes, $444.25 sparingly.

stric 9.50 others

@8.15;

OTHER LIVESTOCK

PT. WAYNE, Ind 7 P).— | Hogs -Steady 220-240 200-220 ibs. $6.85; 180-200 lbs., $6.63; 160-180 Ibs. $6.50: 240-260 lbs. $6.80: 260-280 lbs., $6.60; | 280-300 lbs, $6.45; 300-325 Ibs. $6.30; 325350 Ihs., $6.15; 350-400 1bs., 36: 150-160 lbs. $5.75! 140-150 lbs.. $5.50; 130-140 lbs, $5.25; 120-130 lybs $5; 100-120 1bs., $4.75 roughs, $5.25; stags, $4; calves, $11.50; lambs, $3.25.

U.

$7.

Sept. Ibs .

Ind Sep 1 Pr) lower 180- 200 Tox 6 901 86.70% 7.10; 260-325 lbs pigs. $5.75 down: roughs. $5.75 210711. Lambs, $99.50.

LAFAYETTE Market 35% 40c 6.70: 200-260 Ibs. 26.20 6 60 down. Calve

Chicago Stocks

Low

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Close 108.14 108.13

Corn and Wheat Region Official Weather

|

Today | |

| Stations High Low Notre Dame ... Angola Sue Wheatfield Rochester | Marion | Lafavette . | Cambridge City. Columbus Vincennes Paoli Ft. Wayne Indianapolis .... Terre Haute | Evansville Washington

FOOD PRICES

CHICAGO, Sept. 7 (U. P.).—Peaches— South Carolina Elbertas, bushels. $1.H@2 Celery Michigan, crates, 35@60c. Tomatoes—- California, lugs, $1.75 2. Spinach Tilinois, bushels, 75¢ Caulifiower—Colo- | rado, $1.30@ 1.35 Carrots—Cali- | fornia, 40c. Lettuce-—-California, fcrates, $2 13.28 Sweet Potatoes—Ten[nessee, bushels, [email protected]. Onion Mar{ket 150-lb. sacks:)-—-Tllinois yellows, 50@ {75¢; Idaho Sweet Spanish, [email protected]%,

Precipi- State ot tation Weather Cloudy Clear PiCldy |

Clear Clear Clear Cloudy PtCldy Cloudy PtCldy PtCldy Cloudy

| | | | | { | |

on 160-

PtCldy g Cloudy G Cloudy

Construction equipment swarms on to the job of adding 400,000 square feet of | floor space to the Glenn . Martin Co.'s airplane factory at Baltimore, Md. The work is the first in a program to increase the company 's space to three million square feet, and is the first undertaken by an aircraft company under the national defense plant expansion program.

FINAL NEW YORK STOCKS

By UNITED PRESS

Clute cheng DOW-JONES STOCK AVERAGES 20 INDUSTRIALS 132.78 —0.34 133.12 —0.98 . 12942 4051] , 126.99 0.59 N 150.91 0.87 | Nehi ¢ 111.84, Newport Ind 121.44, Ix Y Central NYC&StL pf 2 |N ¥Y C Omnibus 2'; N Y NH&H pf. 3 —0.03 N VY Ship — 05 Noblitt-Sparks RL No Amer . No Amer 53; pf 55 40.11 ‘No Amer 6 pf.. | -+90.11 No Am Avn o Pacific Northw Tel Norwalk T

| Hizh Low Distillers .. 21% 1 Lead Steel .... Sup Penn

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'» | Pub Tel Co 4725 §

STOCK PRIGES REMAIN STEADY

Few Special Issues Move Sharply Upward on Big Board.

ON THE RADIO

TOMORROW Mr. Barhirolli has scheduled no 10:00—Radio City, WLW. soloists for the first two concerts, 1:00—CBS Symphony, WFBM. and has announced that his pro6:00—Summer Symphony, NBC, [grams during that time will be made 6:00—Charlie McCarthy, WIRE. |up mainly of music by Beethoven, 7:00—Jessica Dragonette, WFBM. (Mendelssohn, Brahms and Sibelius. Later in the season there will be a "GOOD MUSIC" special observance of Sivelius’ 75th By James Thrasher

birthday on the concert of Dec. 8. The 11th broadcast season of the

» # » New York Philharmonic-Symphony |

Tomorrow night marks the end of

NEW YORK, Sept. 7 (U. P). — The main body of stocks was prac-| tically unchanged in light trading | today while a few special issues had | Te, changes ranging to a gain of] points. gr i gains and losses balanced | each other in the steel section. The | Chicago steel area next week will operate at 96.8 per cent of capacity. against 97'2 per cent before the |

Labor Day holiday. The Pittsburgh! area had made up all but a point of the Labor Day decline, Copper shares held around the previous close, sustained by out-| look for higher income for the companies on 11':-cent copper. Sears

| | |

Roebuck rose a point on a sharp Hollywood-inspired statement [the young, blond and handsome pi- |

|rise in its sales. | Colgate Palmolive-Peet preferred | rose to 1012, up 13%, and Northwest

highs. Gillette made a new low for the year. Best gain was made by General American Investors which reached 9915, up 4'2 _ Noblitt- Sparks sold | |at 29, up 2% U. 8S. Rubber pre- | ferred 883%, up 1%, and U, S. RubLiggett |

up 1; ‘McIntyre

Phillip Morris lost nearly 2 points to 811, and declines of a * | point were made by International

's

+1 18 Nickel and Owens-Illinois Glass.

4

CASH SALES STEM DECLINE IN WHEAT

CHICAGO, Sept. 7 (U. PJ. Slightly lower wheat prices in outside domestic markets were refiect- : ed in quiet dealings on the Chicago Board of Trade today, but moderate

|strength in cash markets brought enough support to limit the declines. |

R

Corn was off '« to up 3 cent, September 627:@63c; oats 2 to 4 cent higher, September "295, and rye x to 3: cent up, Sep{tember 407%. Sov beans gained to 1% cents, October T6'%4.

September 754.

8

RA NGE

Wheat— High Low Close

s

Soy Beans- | Oct.

. 18 15% 18

§¢ 9! 12 of n 2

CASH Corn No 65a 66¢ Oats—No

1 No 1

vellow 3 vel

sales 2 vellow,

Wheat --No 642, @65c; No low, 64@65c. nominal 31240: No. 4 white, 30c;, sample iNo. 1 heavy, white, 32lac Vo heavy, 32c. Rve-—~No sales. Sov | sales. Barley Feed, 35@46c¢ malting, 48@6lc, nominal I Lard. $5 bid; loose. $5.15 nominal | $5.37. nominal; bellies, $8, nominal

LOCAL GRAIN

CASH

Wheat Steady: receipts, 2 carloads {1 red, 7T1@72c; No. 2 re Mn@Tlc, hard, 69!,@70 2c; No. 2 hard, 68': 695 Corn-—Steady. receipts, 39 carloads No 2 vellow, 58'2@59'2c, No. 3 yellow, 57':@ 58i.c; white corn 8@9c over vellow; mixed lecorn 1@2!';c under vellow. Oats-—-Steady,; receipts, white, 28'2@29':¢, No 2C.

18 carloads:

2 3 white, 27'2@ 2

28!

WAGON WHEAT

Indianapolis rain elevators are paving! 7 to market | | change; other grades on thelr merits, Cash |

for No. 1 w 0c; subject

corn. No, vellow shelled. 60c: No. white shelled. 68c: No. 2 white oats, 27¢.

LOCAL ISSUES

The following quotations by the Indian- |

do not reprebut merely in-

apolis Bond & Share Corp. sent actual price offerings,

dicate the approximate market level based |

on buying and selling quotations of recent transactions, Stocks Bia Ask

Agents Finance Corp com..... Belt RR & Stk Yds com i Belt RR & Stk Yds pfd 53... {Central Ind Pow 77% pfd .. {| Hook Drug Inc com Home T&T Ft Wayne 7% Ind Asso Tel Co $6 of | Ind & Mich Elec 7% pid.. Ind Gen Serv 69 pid *Ind Hydro Elec 7% >| Indpls Gas com | Indpls P&L. com *Indpis P&L 6°; *Indpls P&L 6): Indpls P & L 6 Indpls Water 5% bp Lincoln Nat Life Tns com... N Ind Pub Serv 5, N Ind Pub Serv IN Ind Pub Serv 7% Progress laundry com .. “iy Pub Serv Co of Ind 67» pfd. Pub Serv Co of Ind 77, pfd.... {So Ind G&E 48% pfd 100 { Terre Haute Elec 6% pfd...... §

"Va 52

pfd

| Union Title Co com..... * Van Camp Milk pt... {Van Camp Milk com.. | *Ex-dividend. { Bonds

cevseeee 99 0

| American Loan 5s 51. | American Loan 5s 46.. Citizens Ind Tel 4lss 61... Crabbs-Reynolds-Taylor 5s 4. o | Hone T&T Ft Wayne 5'2 | Home T&T Ft Wayne 6s 43. | Ind Assoc Te! Co 3 3128 T0.. | Indpls P&L 3, 0 vies 2 | Indpls Railway ‘Me 5s 67 | mapls Water Lo 3} 28 66. Daterstane T&T zs 53 — komo Water Works 5s 58. | Rhoer Packing Co 4'2s 49 | Morris 5&10 Stores 5s 50 [Muncie Water Works 5s 65. | Nat Silk Hosiery 5s 42 [N Ind Pub Serv 3%s 69 . IN Ind Tel 4's 55 . | Pub Serv of Ind dx OY iva ns | Richmond Water Wks 8s "87. 1040s Trac Term Corp 5s 57 ..

HOW MANY

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oe Ne Acme + 193 44: | Nat Auto Fibres 3h .. | Nat Aut Fib pf a | Nat Biscuit .. 20% va ! Nat . 3 12 | Nat, i 3 | Nat Dairy pf A 141s

Am Inv pf 991; | Am Tr .... 48 | Bronze .. | Cable L Cable AA ... Cigar .. Electric

AINDLnD

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. + + Listen to answers of questions like this on radio's newest, funniest show. Tune in on Haven McQuarrie and “THE MARRIAGE CLUB” Station WFBM ... 9 o'clock . . . TONIGHT! Married couples parade before the “mike,” answer humorous, intimate questions Don’t miss it "en TONIGHT!

Isic in favor of a Telegraph to 38, up 2, both new|

| Nathan

Wheat closed off ‘x to up 4 cent,|

Prev Close |

white, |

Cash Provisions | leaf, |

No. | oil

No. |

| Orchestra is still five weeks away. ‘Erich Leinsdorf’s conducting stint | But as far as CBS is concerned, the with the NBC Orchestra. His broad|radio end of this popular sustaining cast at 6 p. m. (NBC-Blue) will in feature is ready and waiting to g0. |clude Handel's “Water Music” and While we are cooling our heels, we Beethoven's incidental music to might refresh our memories with “Egmont.” Pearl Glouberman, so= repetitions of earlier announcements | prano, will be the soloist. and additios»=l information. First of all is the matter of] soloists: During the coming season | listeners are to hear the following! tournament. pianists with the 99-year-old New the national | York orchestra, Ania Dorfmann, from Forest | Dalies Frantz, Gitta Gradova, Jose| Barlow and | Tturbi, Eugene List, Nadia Reisen-| casting Symphony berg, Arthur Rubinstein, Rudolf | Sunday off. Serkin and Beveridge Webster, and | They ought to have | the duo-pianists, Vitya Vronsky and |poned program of Weber, Victor Babin. [Haydn and Wagner pretty well re (Mr. Frantz’ engagement, inci- hearsed by now. Maybe they can dentally, would seem to scotch the squeeze it in some Sunday before that the World Ser ies.

Last Sunday it was the P. G. A. Tomorrow it will be tennis tournament Hills. And Howard the Columbia ‘Broadhave another

that postHandel,

” ” anist had given up professional mu-| ywiniam Bit the well ‘known screen career.) ic violinist Announced as violin soloists are American chamber ‘music ‘Violins, Adolf Busch, Zino Francescatti,! is also a composer—as you may dis= Milstein, Erica Morini, cover by tuning in the Radio City ‘Mishel Piastro, Albert Spalding and Music Hall broadcast at 10 a, m, {Joseph Szigeti. Gregor Piatigorsky | tomorrow. NBC-WLW. {and Joseph Schuster, cellists, are wr. Kroll will be represented on | among the other artists engaged for the program by two short pieces, | guest appearances. “Little March” and “The Cossack,” John Barbirolli will begin a two- | played by the Music Hall String (year renewal of his engagement as Quartet. The string ensemble also will play (the intermission commentator again the Quartet Opus 18, No. 2 hy will be Deems Taylor. When Mr. ‘Beethoven, and Glazunov's “All Barbirolli takes his midwinter vaca- Ungherese.” [tion, his substitutes will be Bruno| Anne Roselle, soprano, will be Walter, whose association with the heard in two songs each by Schitw orchestra extends back for many [bert and Richard Strauss, while vears, and Dimitri Mitropoulos, the | | Henrietta Schumann will join the Minneapolis Symphony Orchestra's | [quartet for the Finale of the Faure able and energetic conductor. Piano Quartet. = ” » n

~ »

THIS EVENING

(The Indianapolis Times is not responsible for Inacouracies In program ane founeement caused hy station changes after press time.)

CINCINNATI WLW_700 (NBC-MBS) El Chico

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INDIANAPOLIS WIRE 1400 (NBC-MBS)

INDIANAPOLIS WFBM 12¢ (CBS Net.) Richard Ma xwell

ANDIANAPOLIS ce INNATL WIBC 1050 700

NRC MBS) wese—

Sunday Drivers Gospel Hour Children’s Hour ”» ” ” LL] » »

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Christian Selence Melodic Moods Southernaires

Timely Tunes Hallelujah 4 " ” Memory Lane

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Aloha Land Charm House Church ot God

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MONDAY PROGRAMS

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Light of World Grimm's Dauchlew Valiant Lady Church Hymns

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Lowell You “KEY NETWORK STATIONS (Subject to change): CBS-WABQC, 860; WJ, 750; WHAS, 820; KMOX, 1090; WBBM, 778, ' JZ, 760; WOWO, 1160; WLS-WENR 870; KWK, 1350. WHK, 1390; WHKC, 640; CKIW, 1030; WSM, 850. 660; WTAM, WMAQ, 670,

0; WW an