Indianapolis Times, Indianapolis, Marion County, 14 December 1940 — Page 9

RDAY, DEC. 14, 1940

BUSINESS |

Does the U. S. Need More Steel Mills? |. 100 J. E. Fredrick of Kokomo Firm Says No a

———

commission finally came to a

Because the Government is now granting special tax exemptions to those companies who expand for national defense work, it has been suggested that the steel industry take advantage of this. In so doing, it has been suggested, would it not be possible for the steel industry to junk its old mills, build new, efficient ones and be able to pay for them in a few years with defense business under the Government’s plan for amortizing the cost over five years? In the first place steel plants now in existence are already modern and efficient, Mr. Fredrick points out. He said that in the last three or four years U. S. Steel Corp. has spent about 700 million dollars eliminating practically all of its obsolete plants and building new modern ones. Another factor that disproves the steel plants are inefficient, Mr. Fredrick says, is that “a check on (steel) prices will show that, notwithstanding the fact that taxes and social security have increased the expense of manufacture during the last three or four years something like three times, this has all been absorbed by increased efficiency and the modernization of plants.” Mr. Fredrick says the steel companies are loath to advance their prices at thé present time. “If we want prices on steel that are fair and just, we do not want any great excess capacity as a carrying load to the industry.” 2 s 2

Roger Budrow

By ROGER: BUDROW

THERE 1S NO REASON FOR BUILDING: more steel mills in this country unless it would be to furnish certain kinds of steel the armament program needs, possibly armor} plate, according to J. E. Fredrick, chairman of the board of { Continental Steel Corp. at Kokomo. ! The Defense Commission has taken the positionthat| it “favors” expansion of the steel industry but it took several weeks of behind-the-scenes disagreement before the

public decision.

STOCKS TREND -

Low-Priced Issues Sold for Tax Purposes; Trade Moderate.

NEW YORK, pe. 14 (U. P)— Stocks moved narrowly today with price changes irregular. Dealings were moderately above last week because of heavy turnover in Seaboard Air Line Railway, selling at its low of 12% cents a share. Major groups failed to develop a trend. Bethlehem Steel firmed, while U. S. Steel and Crucible Steel issues declined. Chrysler had a small loss, General Motors a small gain. Loew’s gained nearly a point, Paramount made a new high and

lost a point.

Wheeling & Lake Erie gained 2%

while Southern Pacific held at the previous close. American Smelting had a fractional loss while others of the group were little changed. Utilities held around previous closing levels. Oils

ly mixed.

Seaboard Air Line Railway was ascribed to tax operations. Traders

of Wall Street.

IS UNDECIDED, -

Adams Exp \ddressopravti

\ir~ laska Juneau.

s . Ee see fon B35 ” BREE E

m Universal Pictures first preferred ed A

PF New York, Chicago & St. Louls|Am Metal preferred was active and firm. %

points. Santa Fe had a minor gain 3

and mercantile shares were narrow- A

A considerable amount of selling. A today in low priced stocks such as|am

generally were cautious because of | 4%

" cOST OF LIVING INDEX

U.S. BUREAU oF LABOR

1923 = 100

FINISHED GOODS

i926 3 100

NATIONAL INDUSTRIAL CONFERENCE BOARD

‘29 30 "i 30

The national income: has gone wp faster this yea The national income this year is 1929. Due to lower: prices and living costs, however, of 1929 and on ‘a per:capita basis‘is only moderately be

32;

*33 "34. ‘3%

38° 18F .

- 738 _

‘39

r. than the cost of Tiving; according to the Magazine estimated at 74.5 billion compared with 81:6 billion in’ the purchasing power of ‘this year income exceeds that low. that of 1929, according to the magazine.

FINAL NEW YORK S71 OCKS

"40°,

j petengil

‘| coln Monday.

FINANCE FIRMS OPEN MEFTINGS

~~ HERE MONDAY

will Be Chief Speaker at Banquet; 125 Expected.

“The 15th annual converition’ ‘of

‘| the Hoosier Association of Finance

Companies will open at Hotel’ Line More than 125 fis nance men from the state are ex« pected to attend the two-day meeting at which Indianapolis: automobile finance officials ‘will be ‘hosts.

Fred L. Mahaffey, president of Consolidated Finance Corp., and Donald Jdmeson, . president of

‘| Equitable Securities Co., are direct=:

Net High Low Close o change |

§ 'E

3% 1%

Wet Ww 1 Voi 997 mn: Woolen of.. 3

+ ry

3 1%

SRRAEARN

Plt

sell

DHE HD ee .

Lo UNITED PRESS:

30 INDUSTRIALS OMRY “cov oisrocnsssssascesss 132.31 Yesterday o.ccocescesssocscss 132.35 Week AfO ..cccc00000000s000 131.29 esees 134.73 Year Ago ....ic...ic000nee. 149.36 High, 1940, 152.80; low, 111.84, High, 1939, 155.92; low, 121.44. 20 RAILROADS . 21.85 27.80

Today Yesterday ie rivevasirre ; Week: ALD siciseenesssesisan Month Ago ...... s| Year Ago ; High, 1940. 32.67; "low, 22.14. High, 1989, 35.90; low, 24.14. 15 UTILITIES Today ... 20.15 20.19 20.14

Week ARO ..ocosnecncesssccs Month AZO ....conssssescses 20.96 Year AO ....c..uen cesvees 4.86 . ‘High, 1940, 26.45; low, 18.08. : High, 1939, 27.10; low, 20.71.

Seab Airline 276 U S Steel.... 66 70% 7|NYC & SL ot 65 33% Radio K Orp 64 312 3g Comw & S... 57 13-16 Warner Bros. 53 3%

15 1g 1% 6932 69% 313% 313% 31s 3% 3; 13-16 35% 3% 335 33% 21, 23% 8% 8% 2215 22% Hayes Body.. 41 3% 312 3% 4 |Sta.0il N J.. 39 335% 833% 33% Jones & L of 35 106 106 106 Schenley Dist 33 ‘1133 103; 11% Int Nickel .. 33 245 24% 24%

DOW-JONES STOCK AVERAGES : ab: -Cash Re

15 MOST ACTIVE STOCKS

(in 100s) High Low Close Change

Stock sales approximated 390,000

—o0 +021 +0.96 —0.86 —o.28| Nat G

t Ind

mer No D Amt 8 vf. No Pacific i...

Net -

—1-16 -1 — % +

Outboard

Pac Am Fish.. ac Coas a

in Coast

+ 1 + 3 — 15 + 8% + 5%

- 14

of . t Mining 20%," 26% 26% ' 8 of. 110% 109% 8% 8%

t. 131 ac Coast 2 bo 3

Net Wig Low Close Change

13 10%

2% 3814

. 51%:

Avn ... 17

vee a

Qwens Ill Glass 4%

8% 24 2%

287%

rm 2 batino Mines. 38 Penn Coal & c. i

ors of the association. Other Indianapolis members include Agents Finance Co., Gregory and Appel,

7 Universal Discount Co. and Univer-

sal Finance Corp. Member companies ‘maintaining

Hs branches here include Associates

Investment Co. and National Discount Corp. of South Bend, Capital

2 Finance Corp. of -Cclumbus, O:

Colonial Finance Co. of Lima, O Lincoln Finance Co. of Kokomo and National Band & Investment Co. of

i, | Chicago.

Samuel B. Pettengill of South Bend will discuss U. S. foreign pol-

‘1, icy at the banquet Monday night Charles Milton Newcomb of Dela<

ware, O., will furnish entertainment. Current trends affecting Indiana discount companies will be the chief topic at Tuesday's meetings. L. M. Stewart, Chrysler distributor at St. Louis, will speak on trends in the

1 automobile business.

The banking side of automobile financing will be discussed by Vincent Yager, assistant vice president of the Harris Trust & Savings Bank of Chicago. Dr. Albert Haring of Indiana University will discuss installment selling.

: EWBANK ON LOCAL

'WAGE-HOUR STAFF

Albert W. Ewbank, Wage-Hour Division attorney, has been: frans-

Teandored |

: : a fi Earl W. Gibson, production representative of the American Mu‘tual Liability Insurance Co., has been transferred from Chicago tc the Indianapolis ‘office. He is a graduate of Butler . University’s College of Business Administra“tion.

HOUSING 0. K.D AT NEW ALBANY

Veto on: Project of 148 Residences.

NEW ALBANY, Ind., Dec. 14 (U. P.).—The City Council last -night overrode a Mayor's veto and paved the way for a $500,000 low-rent housing project here. The New Albany Housing Authority will go ahead with plans for constructing with! Federal funds a 148-unit residence project. The council previously had &pproved the action but withdrew its approval when the Citizens Com- | mittee objected that the project would be tax free. proval was vetoed by the mayor. The proposal was revived becatiise of an expected strain on housing created by the influx of workers at the Government powder plant at nearby Charlestown.

Council Overrides Mayor's coca

A second ap- y

ly Top ; pir do “On 220-230-Pounders At’ Stockyards.

Hog prices were practically un=

Pied at Indianapolis stockyards | today, the Agricultural Marketing

Service reported.: The early top was $6.25 for good

I and choice 220-230-pound hogs.

Marketing Service estimated 150 salable cattle were received, 50

calves, 3500 hogs and 50 sheep.

‘Lop Receipts Dec. 7 cicecevecsncnenenes .$ x BC 9 .cececenscrsencans

5.30- 5.58

0- 4.65- 5.58 i} . "Siaughter Pigs Medium— | Me um and Good— 160- 200. 5.65- 5.95! Son 120 4.40- 5.00 Slaughter Cattle & Vealers (Receipts, 150) Steers Choice— 750- 900 900-1100. 1100-1300. 1300-1500.

Bulls jt Yearlings excluded) $12.25-13.75| Beef— 13.00-14.50| Gooa ..$ 6.75- 1.28 13.00-14.75|Saus age— . 13.00-14.75| | Cio 0 vane 4.50. pf 1 750- 900 10.25-12.25 Custer rand 900-1100. 10.25-13.00 mon _4.75- 5.50 1100-1300. eale 1300-1500. ‘Medium—

75-1100. 1100-1300 “950- “i300. Steers, Heifers Choice— 500- 750- -11.25-12.75 9.50-11.25

1050-12. T1028 Ca ang) L200 7115-10.23 nod 6.50- 9.50

| Cull - 6.50 6.50- 7.50) Feeder Hg Stocker Cattle

rs (Receipts, 50) Good— 0 B00 9.25-10.00 500~ 750. 800-1050. 9.25-10.00 eneeeter (Sm. a2 gn 750- 900. 11.00-13.25| Medium— odie Good— 00. 17.25- 8.25 750- 900. 9.50-11.00/ Common. 7.38 7.50- 9.50] Ca ves fa) {Good and choice— * 6.00- 7.50/ 500 down. 3.00-11.00 Medium— ows 500 down. ‘9.00 6.00- 7.25! Calves (heifers)

6.00|Good and 4.50 LL down Choe 25-10. 00

edium. Cafiner... 3.75- 330) M50 down 7.00- 8.28 SHEEP AND CATTLE (Receipts, 50) Jaubs

Good and choice ..... Medium and good .

500- 900.

8 9.25- 9.15 8.25- 9.00 .00- 8.00

Yearling Wethers Sie and choice” ...

shares compared with 400,000 last Saturday. Curb stock sales were 114,000 shares against 91,000 a week % earlier.

ferred from the Chicago regional office to the Indianapolis district ,. |office. Mr: Ewbank has been spend%ling two or three days a week here but increased activity. resulting

uncertainty over week-end devel- Dry

opments in Europe.

550 Ewes (wooled)

Good. and choice Common and medium .

CHICAGO LIVESTOCK

enn D en p D ¢ ot dere ary dere Mat of’ e Date Mpr pf ..

feifer Brew..

A A A At At . Atlas Pdr "8 Aust Nich=pr A 113% 47g

NEW USES are opening up in this country for man-made textile fibers, Celanese Corp. believes. These fibers are being mixed with wool in making rugs, carpets, blankets and

Electricians Here Change Tactics]

-. 24%

Ht] JIN 8

coats. A new straw braid, made of cellulose acetate, is being used in women’s hats. Celanese Corp. is developing a new yarn to substitute for silk and linen thread, expected to be used in airplane, balloon and parachute fabrics, cords for rubber tires, strong tapes and webbings. ” 3 2 ECONOMIST Rogar W. Babson says he is “bullish” on. good stocks but believes the high-grade bond market is in the same position the stock market was in 1928-29, “ready for a sharp fall.” # ” ” ODDS AND ENDS: Woolen mills | % have fallen behind on deliveries of |

GORN, WHEAT CLOSE

CHICAGO, Dec. 14 (U. P).— Wheat prices on the Board of Trade covered .a narrow range in a small mixed trade. The current delivery

after yielding a small fraction of a cent at the opening. Deferred months were under scattered local | and commission house pressure, a reflection of favorable crop prospects. Wheat finished the session 1% to 3, cents lower, Dec. 89%: @89c. Corn was off % to %, Dec. 59% @ 3c.

Aviation Corp.

LOWER AT CHICAGO ji:

Ban gor & 3

arnsdall Bendix 3en hd Loan

w-Knox continued to show relative strength Blimenthal of. 9

ald Loco ct.. — 3a 19% alt & Ohio... 3a 3% alt ny 4% 4! 5% 3 26% Sohal 1

33% 20 pf.. 55% dees. 30% ee... 88%

5 25 10%

en Ind L est & Co sh Steel 91 177% 31 108% 108% L200

17 25%, 6

TYE

sr iet

n Gen Shoe en Stl C pf. . ten Thtre Ed. . en T Sree llette S K....

Net Close CHstgs

Press Stl C

ub ul ou Pu

Radio Rad

0 Rad

ohelps | Dodge -. Co 6 pf..

JO dit Bah SHLRIN0D SLR - SIPC SSRI SS

-J

ort | ‘A.

A Indianapolis,

from -enlargement. of the inspection staff in Indiana has made a fulltime attorney necessary, Alex Elson, regional attorney, said. The Division has 11 inspectors and five payroll examiners working in the state. There are offices in Ft. Wayne, Muncie, Evansville and Seymour. Another is being opened in Gary. The Division reported 73 cases

®| were closed last month and $21,195

in back wages secured for 412 workers who were paid less than 30 cents an hour or employed more than 40 hours without being paid |time and one-half overtime in accordance with provisions of the

2 Fair Labor Standards Act. -

The contractors division of the Electric. League of Indignapolis is going to try a new idea at its meetings this winter. Instead of having one speaker, it will have four speakers who will give their talks in “serial” fashion for four meetings. The first meeting is

the Electric Building. The speakers for this meeting and the next three will be Ross M. Brown of Indianapolis Power & Light, Co. who will discuss fluorescent lighting: Leroy Miller, chief electrical inspector, who will “talk on new code regulations; Walter O Zervas of the League, who will speak on the certified adequate wir-

Monday night on the sixth floor of !

. Hogs—Receipts, 1000; no early trading of importance; undertone steady; acticale no good and ro yy Aicher hogs closed 10@20 gid eady bulk 200-3 00-1 hu Chers ates 50-175-1b. Re rwoents at § a -550-1b. packing sows Lh

30. yi Cattle Receipts, 200; calves, 100. ; the week: Strictly hoice and prime steers and yearlings steady; all othefs 25 cents p Sood weighty steers, fed steers and yearvn 13.50, respectively; steers, $15.10} Supply $14@ best yearlings, $14.25; heifer yearlings, ‘12; yer sizable supply medium to good short and yearlings. $8.50 50; heifers steady bo 5 cents lower: bulk: crop, $10.75 dow 0 $8.50; cows closed thor I ji io and common beef cows, selling at $5.75 down: sausage bulls strong at $7.35 down; vealers 50 cents lower, mostly $10 down: few choice heavies at 180. Sheep—Receipts, +700. the week: Fat lambs wea to 25 cents ower, mi 15@25 cents lower; sheep about Stes feeding lambs steady to strong, top $

modest

civilian goods because of big Army orders, New York Wool Top Exchange Service reports. ... Laundry business will gain 6 or 7 per cent next year, American Institute of Laundering believes. . . . Nine of the 21 savings banks in Manhattan have cut interest paid on deposits from 2 io 12% and more are expected to do the same. . . . Automobile production this week continued at an unusually rapid pace with 125,625 cars and trucks going off the assembly lines, Ward’s Re- . ports, Inc., estimate. . First Old 3% 31% State Bank ‘at Elkhart, Ind. has! May . . : + ; t 1% Yoon co 1s i - joined the Federal Reserve System. . wim 20 i ! irs 5 1 i 18 7% | Her hey 51, 7 51% St ig AC 2 ath . . . American Airlines carried its three millionth passenger this week, first airline in the world to carry that many passengers. , . . Trade quarters expect a revision in the May cotton quota. system. . . . American hosiery manufacturers used 17 per cent less raw silk the first 10 months this year than last year, . principally because they used more nylon, cotton and rayon, National Association of Hosiery Manufacturers reports. :

OHIO BELL PLANNING TO SPEND 2 MILLION

CLEVELAND, Dec. 14 (U. P.). —|o1c. The Ohio Bell Telephone Co., con-| 0: trolled by the American Telephone & Telegraph Co., will spend $2,160,-| trite 37¢° 000 for the new plant and equip-|1 white Ger 40%, @40%c; sample white, é ment in 1941, Randolph Eide, presi-| d. extra Nor Tom 38%c: | Gon dent, announced today. The com- 5 0 nixed, pany will use $1,240,000 of the total in the Toledo local exchange areas.

ROSS TO ADDRESS |X UNDERWRITERS HERE $4.47, Boiinal; leaf, $7,

be Iles, $9, nomin

LOCAL GRAIN

CASH

Wheat—Steady: ‘receipts, 1 carload: 1 red, 85%. @86%¢c: No. 2 red, Bh Ga rse No. 1 havd, 83% @84i%c: No. 2 hard, 82% @83%c. Coe Weak: receints, 39 carloads: No. 3 vellow. 52 12,@54c: new No ve

Oats is o 1, lower, Dec. 387%c; rye off % to 38 and soy beans up % to off sc. Traders were reluctant to make new commitments, apparently awaiting developments ‘in the December contract or some fresh incentive. Moderate resting demand was noted on the dip immediately after the start but offerings overshadowed the buying. ;

RANGE

ing plan, and Gates, Hunt, representing Peerless Electric Supply Co., who will discuss new electrical

|3 INDIANA FIRMS [3s GET ARMY AWARDS| Curb Stocks|

. WASHINGTON, Dec.. 14.—The War Department has awarded Aero Sup B, En three contracts totaling $674,640 to | Indiana firms. They are: 2 William R. Bootz, Evansville, 12,000 fire units for field ranges, '4$226.200. - The Crosley Corp.,, Richmond,] 112,000 fire units for field ranges, $208,440. Schulte R_«.... JY Teg Manufacturing Division, Jefter- seh ol TED 8 hv |sonville: Quartermaster Depot, Jeff= | Bij oil i 13 : ave: 1,321,080 web waist belts,

Ras

choice fed Westerns Py nav [email protected], mostly

w uirington M. urroughs ..

Reo Mot vic ... Republic Stl . Rep Stl p Revere 7 Pht . Reyn Met 1 Re Tn M cucvpf. 9515 Reyn 1 Sprns . 9%

REY es 328 Richfield oil ... 8% Ritter Dent ... 5% Roan Antel . Rubzroid

OTHER ETO

WAYNE, Dec. 14 (U. P.). —Hogs— —50 220-240 Tbs. $6.15;

Net Low Close ct Change 156 30% 12% =

158 35%

303 Xu 12

aH 193 Ya 105% 24 24

32 91% 7%

Carpenter stl. gage J 1, . : Skiows: # 587s Battway S 5 pf Mand

.887s

oll ; -12 $4. 3% stags, $4. ato, $11. 50,

—

~ 14

roughs, Lambs, $0 ;

LAFAYE market steady; % Fre en a3 2 3h Ay ESi0. Erte 30:

LOCAL PRODUCE

‘breed hens, 12c; bareback : “hens, llc: eghorn hens, 3; pote back Leghorn hens. 7c; Barred and White Rock springers, 13c: other colored heavy breed springs 2c: Leghorn springers, llc; bareba

(U... P.). aaiee 280-200 1bs., [email protected]; 0 ene, sa, 45 $5. 8 ; Fougns, Fmt, $8509.25 B}

Cent Vial Sug . Cerro de Pasco 8 or pf

3 Ya

Breeze Corp . . | Brewster Aero.

Hud Bay M & S.. Hudson Motor.. Hupp Motor ..

Chicago Stocks

Advalice Alum

Aviat & Tran .. Backsiay Welt Bendix rk A Ei

Heavy

Shatuck

[11 Central Shell Un Oil ..

7 3 Cent L L.... 33 Cy : 9c; old roosters, 6c. rkeys——Young toms, No. 1, 13c; No. ; { young k hops, ; 1, 17¢c: No. 2, jan: old tom No. 2, Tc. Ducks, full do ‘and RL white, 5 lbs. and over; 7c; white, under 5 1bs., 6c; golored, 5 Ibs. and over, 6c; under 8

1bs., eos, full feathered and fat, ¢ Indiana Grade A large eggs, bse: “Indiana 23¢: small Grade °

ht ds 4 | Chrysle r. 117 limax Moly Co 28% Coca-Cola . 106%

she cts Md.. rchem wr ...112

ki yr =

§ wt. A Con 2 Balt. Con Steel 6 Cont! R&Stl Fd , 8 Creole Pet 13 Decca Rec Inc . Eagle Picher L. Ea G&Fuel ....

Br % RO t & 5 3 Col Broadcast A 211s Soeas rey gol Broadcast B. 217% 30 Cal Ed 6a

hE LEITH]

y Sept. +..ee.n

Bu 3 : s6%he. “Butterfai—No. 1, 35%: (Country pickup prices auoted i a ‘the Wacley: Co.)

en oN h} FOOD PRICES CHICAGO, Dec. (U. P.).—A Michigan, Jonathant, 2 $1. 2% a fe Michigan, squares, 320 matoes— fon a, lugs, [email protected] ing an: p75¢. . -Caulifiower — New Yor 3 ale

Wheat TNO. 1 hard and No. 1 mized, pixed, yellow, 2c; No. ai c om Inv

111+;

29% 2

21) 5's 7% d Cr Coal. 290% 20%

EE EEE SEE SE BEE * nea, [+++ — .

Squ Sid Bra nds .. 6 Si Brands ; pf . a3 Std G & E.4 pf 3% np. Bool | oo Std G & E 6 pf 12'4 Insur -No i Jarvis Co .... 13. Std S & E Tp 14% y > i $a ative - 0 {Int Petrol . Johns-Man .... 61% Std O Ca — % % | Jacobs Co’ 31 Jones & L 7 pf 106 Std Oil Ind ... WC. 47 ‘Jones & Lau ati 3 | eles Ke % Nd... MCLs 0. ** 501 B04 Sinaston Pro .. 1% % fade 88 a3. ) ke

: : Kirby Petrol ... [email protected]. Kal’'m’zoo 8 ar 12v, 129 ake Sh M. Ean fo i i I nois on

50 : r Jul 7 73g sL15@ L “Go lora te Vee a ; Kelsey-Hayes’ A 1814 ! Colora ? Beet S panish, $1.30; Kelsey-Hayes B 8%

Spanish, $1.2 Kennecott Kinney 5 Mont ay t City opp | es

U.S. STATEMENT Nat Bellas Hess

S% 8 il.... Fel G .... 11% ; a|. WASHINGTON, Dec. 14 (U. P.).—Gove Niag H Pwr ... 3 i= ernment expenses and Be ts for the Niles Bement. current fiscal year through Dec. 12, com= Pantehec Oil v pared with a year 8 go. t Yea

‘This ar $4, 381, 386, 780. 25 $4,18 167, 338.29 2,430.891,341.19 2, 318. 2 1574.47 9.06 1, 808. .82 798,273.163.82 .48 620.318,841. 55° . *927.375,501. 3 I ae 44 ve Pub X pent .44,206.560,454.28 41,887,221,040.87 4 Gold Res. ..21,858.399,050. 7 17.454, Lar 96 7 Customs .. 140,820,564.62 161,917,092.01

INDIANAPOLIS CLEARING HOUSE =Todayees

Cleari Crises sans senvr sv iarS ly Debits. = 3 Np bed 6

v. , 13 . 2 yellow, 91%c; 81% 91%c: No. 4 vellow. 88Yic yellow, gra ade, : 103 87@87'2c. Barley—No. 1 Aa 59@62c; No. 3 malting, 53c; feed, 45@5lc, nominal; 54@64Ysc, d see eeds 0 1bs.. nominal—Timothy . $4; : fancy red top, sweet clover,

FF TIT

Stone eb.. Studebaker wees Superhtr Superior Oil Suth Fa stl .

nominal; 2 . 37% 37% . 19% ... 22% . 3% . 42% oh

Crane Ge ev pi. 108% Crown Co: fo a

viet

Bri so

Dr. M. O. Ross, dean of Butler University’s School of Business Administration, is to speak to mempers and guests of the Indianapolis Chapter of Chartered Life Underwriters at a luncheon. meeting in the Columbia Club Monday. His No: 3 ve 2 subject: is “A Changing Economic 2 c: white corn 3 to 4 cents over yelScene.” Lis A xed ak aa ge is:

: white, iri No. 3 white. TY TIONS 3 LOCAL ISSUES

Soy bea teadyv: receiots, 2 carloads: Indiana pints, Sop Hiiniols pints, 82 The joliowsie ou ions.

@83Y; sent a oud price Ad *offeri dicate

Mi Montg Ward ... No a Amer Car’ ve en

v ¥ ay alcott J pt: : Fo a . Tn OL ot ‘Oa ts - OP ..eo s seve Cexas Corp .... 40 + 2 iy ot... ae e: : — 78|Sterling Brew . ; 4% Yo oeon Stewar: War ay

Expenses .

35 +1 11-16 WY ..-.

+ Y|u 9 Steel ++»+ Utah Radio od cesses b Dilly Indus ceseanse

PEELE LF Hh

Les on Sa

Technicolor . A Tubize-Ch 8. : Ul

Airc Cigar Sts. . 9-18 n

LH LEE LH]

+1;

T . 3 Curt Pub pr pi F114

Government Bonds

U. 8. GOVERNMENT BONDS Treasury Bonds Low 102.29

L bots, Star Cem. 39% Long Bell a 3 hse vw B 5 pf. 109% ‘109 Lorillard pf .. 109 Lou. & Nash. ...

. . . .

Tran frans ass Air 3 [ri Cont Othe Cent Fox oi [win Coach .... 87%

Wrigley . . Yates-Am Mach ...c... HA

WAGON WHEAT Y Jndianapons grain elevators are paying for No. 1 wheat, 82c; subject to Tey 3p change: Sther RO on their merits. Cash | I Und Ell pish... 34%, corn: New No 4 n vellow shelled co Union B&P .... 12% 1 52¢; new No. 4 white shelled corn. “Bsc: Union Carb .... 1% —_ No. 2 white oats, 32¢. Jpn J EF, Mo. 01.1147 8

2C. the or ed on busing "snd ee quotations of recent transactio

. 3%

- . .

Payison Ch .. 6% P L cu ot. 113% Co ‘SL

| ¥

; Clearings ..ccoc00e Debits oS ar .

Ei Shoe 59% n Wall Raver, 1% Utah Idaho Jug |1 West Virg Coal 3 3 Wright Har ... i 1%

Lh FOREIGN | EXCHAN GE

NEW YORK. Dec. 14 (U. P.).—Following are noon closing cable rates on major currencies: S +3 England (pound). Qably Rates Net Change ‘ . vest Pa 0 ot 313 | Canada ( ollar) | 86% . a El 7.pf 113 112 Italy (lr 0308 . est” Siw Bup 3 Sree, Switzertand (i ro Fay ie ot" ! Sweden (krona) |.. £0 Japan (y "ey 5) a 218 apes as

Mexico (peso)

11116 |

Low 13 28h 3a

: 9% 9 "1847 164%

Net ‘9%, Close Change 164% Warren Br : yash Gag Lt.:

High b Ei a Ve 5 Wes

A GLASS CO. ANNOUNCES BONUS

HARTFORD CITY, Ind., Dec. 14 (U. P.).—Sneath Glass Co. will distribute. a $10,000 bonus to employees |El today, officials announced. The payment represents five per cent of wages paid from June 27 Bi

347, 13614

East Air L

cg East Kodak ade 1381 Eaton Mfg 359 35

Edison” Bros ...:

nd om ed P&L “Sas pfd.. Jndbils Water 5 :

sine HE 1 Lib lb Tel rid):

1 oE A

one | meses 536300 AH MER 1 3. Sma .30 FSIS :s :

% BR 5.50 pf 73% Vac a 3! Prog .. %

BL SIo IEEE Id

CHRISTMAS PACKAGES. for out “of town gO § ifely, safely. ..with -doot- ) ice snoestischargtindl cites and pea towns. U Air ff |

FSF me

SEs Se Sousany pa 5 Fis

cent bonus paid this year.

Fle BE

ue RL fed L ¥ of a

+1: 11+

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STEEL MILL UPKEEP RISES NEW YORK, Dec. 14 (U. P.)— The steel industry spent Spplon = 000 for new plant and equipand maintenance of plants and equipment during 1939, an increase |: of about 45 per cent over the pase 13 total of $171,000,000 and near the Gabriel A... 1937 figure of $260,000,000, the |r Robt, - ih American Iron & Steel “Insti Gayl Cont. . 11’ “reported today, r

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