Indianapolis Times, Indianapolis, Marion County, 21 February 1941 — Page 16

NI

PE

[PAGE 16

BUSINESS

Indianapolis Stores Show Bigger | January Gain Than State Average

year by 20 per cent and Gary in-

INDUSTRIAL OUTPUT

‘est week stood at 138.3 per cent of

By ROGER BUDROW

RETAIL TRADE IN INDIANAPOLIS is better than

the state average, according to the Commerce Department’s

report on January business.

The Commerce Department collected reports from 210 stores here which indicated that retail trade in Indianapolis last month was 19 per cent better than January ‘last year. Sales totaled $2,383,194, these stores reported. In compari-

son with December, sales here were down 46 per cent as the peak of holiday buying subsided.

The average city in the state showed a gain of 16 per cent over last Jahuary, the report shows. The average city had a loss of 41 per cent from December to January this year, not quite as much - as that made by Indianapolis. Only two cities in Indiana exceeded the, ‘gain made by 'Indianapolis last month Ft Wayne boosted Roger Budrow Is > Mes i!

creased its sales by 25 per cent.

Jewelry stores showed the largest |f © gain (37 per cent) followed in close

order by household appliances dealers (34 per cent), heating-plumbing equipment dealers (33 per cent), lumber and building materials dealers (32 per cent) and motor-vehicle dealers (31 per cent).

2 2 8 8

GOLD DOES grow on trees, according to Dr. Hans Lundberg, Canadian geophysicist. “Gold-bearing” trees and plants have been located in many sections of U. S. and Canada where gold deposits are located. The common horsetail plant, he said has been found to collect as much as 412 ounces of gold per ton which, at a rate of $35 an ounce, would yield $157.50 a ton on a horsetail crop. The plants extract and concentrate samples of the ore by an efficient absorption process, Dr. Lundberg explains. on un ”

BERLIN NEWSPAPERS report that 1500 German firms, closed for the duration of the was as ‘‘nonessential,” are now being supported by the Government. Maintenance expenses will cost the Government between $2,800,000,000 ‘and $3,200,000,000. Quarry and tile industry headed the list, followed by a number of textile and chemical firms. » 3 E 4 ODDS AND ENDS: U. S. Geologic Survey and Bureau of Mines says there is “a good chance” for this country to become self-suffi-cient in mercury, tungsten and antimony but “no chance” in tin or nickel and “fair” prospect for manganese and chromium. Practically all tin comes from the Far East so it is chief “problem metal” but 95% of nickel comes from Canada so there is no threat to U. S. in this supply. . . . B. F. Goodrich is using duramin in its tires—a combination of chemical “age-resisters” said to|c prolong service life of rubber. . . . Toronto Financial Post reports an experimental plant to produce motor fuels from a combination of ordinary gasoline and wheat-pro-duced alcohol may be built in West-

ern Canada soon. . . . One large fire 5

manufacturer is said to have taken

40% of all Arkansas cotton now in|MS loan. .. . Although there was con-|Co

siderable alternate freezing and thawing in the Southern and Eastern. Ohio Valley this week, conditions for winter wheat continued favorable, U. S. crop report says.

INDEX SHOWS GAIN

NEW YORK, Feb. 21 (U. P.).— Industrial production in the week ended Feb. 15 showed a slight increase from the level of the previous week, Standard Statistics, Inc., reported today. The company’s index for the lat-

the 1935-39 average compared with the revised index of 138.2 in the preceding week and 16.2 in the corresponding week. - The index was at a record high in the week ended Feb. 1 at 138.9 per cent.

{All Dealers Hutual

FIRE-CASUALTY AUTOMOBILE INLAND MARINE INSURANCE

for Careful Prcperty Owners ITLL NTR

Wa. 2456

PORKER PRICES REDUCED HERE

Top Slumps to $8; 10,083 Hogs Are Received at Stockyards.

HOG PRICE RANGE

sas Receipts

@scsssssassssasessee

ssesssscens

®0RWw%B®0%R SS3VRBERHTE

Hog prices were unevenly 5 to 25 cents lower at Indianapolis stockyards today as receipts swelled to a total of 10,083 hogs, the Agricultural Marketing Service reported. The 5-to-20-cent reduction was made on weights between 160 and 240 pounds. 25 cants. The top was $8 for good and choice 190 to 200 pounders. Vealers were about steady with a $14 top. The Marketing Service reported 409 salable cattle, were received here today, 407 calves and 3187 sheep.

HOGS Barrows and Gilts Good to Choice— 120- 140 pound a 160 RP

180 200

- vooon

3 FoygasasEs.

3 Medium— 180- 200 pounds

Packing Sows

Good and Choice— 270- 300 pPoOUNAdS cececcsecne 300- 330 pounds .. . Gos 360 pounds eee

d— 360- 400 pounds ceeeces 400- 450 pounds ee..ee Lo 500 pounds seccecocccse ed 250- 500 pounds ....

Slaughter Pigs

Medium and Good— 90- 190 pounds

3 A33aa3300 S 3335335233

0 SRL RD

2 Smm9mem

= irs at S 233 22 ® 699 09 a oon aa , «3000 Oras QUO OOD

<a oa

5.50@ 6.35

[email protected] 13 Bt 50 [email protected] esesesseenses 12.75@14. 5p Good— 150- 900 pound 900-1100 pound 00-1300 pound 1300-1500 pound

fedium— 50-1100 pounds 1 vp 1300 ) pounds

aoe 71100 © pounds Steers, ‘Heifers

Choice— j a 750 pounds ...ecce00. «ee [email protected] 00a — 500- 750 pounds [email protected]

. 11 00@13. 00 [email protected]

sreesanvense

[email protected] 7.75@ 8.75

Heifers ; Choice— ? 750- 900 pounds [email protected] [email protected] 8.50@ 9.75

7.00@ 8.50

000 — 750- 900 pounds scececscvssece dium— 500- 900 pounds

esssseestene

mmon— 500- 900 pounds

§ 50@ . 3 5.25@ 6 4.50@ 5. 3

(Yearling By wide) Beef— 7.65@ 8.00]

“goad” Goo

Mediu . 7.50 Ctter and common .. 6.296 7.00

Vealers Good and choice .. Common and medium ’ u

secee

Feeder and Stocker Cattle Steers (Receipts, 407) Choice— 500- 800 pounds veeesenaness:$10.0001075 20al0s0 pounds ..ocssscesces [email protected] 500- 800 pounds [email protected] 800- 1050 Dour [email protected]

Mediu: 500 -1000 pounds 8.25@ 8.15 7.50@) 8.25

vsssosceelene

essences sare

Com er [IEEE EE RN NR REY] 500- 900 pounds Calves (steers) Good and choice— 500 pounds down Medium— 500 pounds down Calves (heiters) Good and choice— 500 pounds dOWN s.esesceccs

[email protected] 8.50@ 9.15

[email protected] fedium— 500 pounds dOWn e......cces T7.50@ 9.00 SHEEP, LAMBS (Receipts, 3187)

Lambs

Good and choice . Medium and good 0!

Yearling Wethers

Good and choice . 9.00@ 9.50 Medi 8.00@ 9:00

i $10. Ries 9.75@10/50 8.25@ 9.50

Ewes (wooled)

Goo¢ and choice Common and medium

COAL PRODUCTION RISES 14 PER CENT

WASHINGTON, Feb, 21 (U, BE). —Bituminous coal production in the week ended Feb. 15 increased more than 14 per cent above the] 3 level of the corresponding 1940 week, the National Coal Association

reported today. Output for the latest week amounted to approximately 10,400,000 net tons compared with 9,100,-|%

4.75

3.509 4.50

per cent.

aggregated 65,321,000 net tons against 68,557,000 in the 1940 pe-

riod, a decrease of 4.7 per cent.

F. H. A.

with as much as 25 years to repay. Especially suited for those with a moderate income who desire a home of their own.

THE UNION TRUST COMPANY

Member Federal Deposit Insurance Corporation

LOANS

LOANS

ET The CHICAG!

on on_Everything

Diamonds, Watches, Autos, Cameras; Clothing, Shotguns, Ete. |

Other weights slumped [4%

[email protected] | =r]

7.50@ 8. 50] Count Sug

1.800 8.00 ‘In

] Johns-Man

d Kennecott ... 8

I 5:50

000 a year earlier, a gain of 14.3 a For the year to date production ht ttie—Sal

ment contract.

next operation.

cational order” at the Anderson plant.

THE INDIANAPOLIS TIMES

Making Shell Cases at Anderson

General Motors is installing tool dies and machinery at top speed at its Guide Lamp Division plant in Anderson, Ind;, to be ready about May 1 to start uninterrupted production of cartridge cases on GovernThe cases shown emerging from a stress release annealing process are part of an “eduMorris S. Davies examines the cases before they proceed fo the

Net Last Change Ch Del.. y hi Eble hg? BR: a F pf 3

Roll. Mill. . 13°

Am Am Am Am Am T&T Am Am W Am Woolen pL.. Angeconda Arntour “Ill Atchison Aviation Corp..

Bald Loco ct... Balt & Ohip.... Bah Ir Wks... Bigelow San ... Boding Aic «2 15 Boidton & Me .. 1 Bdgpt Brass ... 10% . ==C— 6's

Cal Jame &

Celt Viol rh . p Ohis.

Lob s.ir Copweld Steel . 1 Crucible St ... Cuneo Press .. 22 Cu Am Sg cv pf 443% De Tel & Hud ... 93% Dist: Seag 16 Dunhill Alr Lines. 2674

X Bs 26% 8 Ya

Evans Vac ...

37%

Rirst N Strs .. BF 12%

37% Plintkote 12

Ya —C— . 1812 18%

42 42 (Gen Cigar pf.. 11125% 1253s Gen Electric . s 33% 32% Gen Motors.... 417 {Gen Motors L 13350 . 5-16 51% 78

Gramewell Co.. (Gen Cable

Gen Fty Gen Stl C pf.. Branty 70%" . Gran Gran . ) Gt North 3 . 24%; Gt W Sug pf. ay 19

Homestake 47 Hupy Motor ... 3a — « 10Y3 . 24), 12% 2Ys D Sevisee 6 in es 512 51% —— oo 3213 oo 23Y2

10's 244 12's

Inspiration fant Nickel P&P

Int: st

Kresge SS ..

Lehn & Fink., 11% Lerner 8trs Libby McN & Y Br Lion Oil Lock’ 4 Aircrati. 28% Loew .

CHICAGO LIVESTOCK

Sheep—Receipts, 7000; late Thursday fat lambs closed steady; fully 15@25c INgher| lop. $11.25 for good to choice 95-lt. Westerns to shippers; bulk good to es 50- 106 1bs., [email protected]; Joa 119 1bs., 0. 90; redium to od lambs, $10.50; today's iy little done early on wooled lambs; asked steady or up good to choice handyweight fed Westerns; most early bids under load good around 94 lbs. fed wooled lambs sold early 3% $10.90, or fully 10c lower;

medium

fed lambs about steady at $8.90; yearlings fully steady; odd lot slaughter ewes, $5

Hogs—Receipts, 13,000; general fade around 25¢ dower; extreme top, ingly; most and honey “180-240: averages. $7. 20-1b. aver-

1b. butchers, .26@ 180; ee 400-500- . , $6.65@7; few lighter weis ts up to

215. Loa ttl e—R3c2ip’s, 1000; calves, 300; sizbie supply; Food to choice grade mostly Rood rade d steers scaling 1200 lbs upward not shown after being held over from earlier in week; few loads and odd lots medium to good light steers selling slow, weak at $11 down to $9 and below; closing steer market 25@50c lower than a week ago, with weighty steers fully 50c off; shi per de: mand Narrow; meager run fed heifers, wear at $9@10; no choice kind fivailable with no killing tomorrow; both arge and small killers operating cautiousjr cows weak to 15¢ lower and al is dull; no reliable shipping Oras or weighty bulls, but Supply negh Eimie; leas steady. scarce at $14 d t offerings, $11@13; stocks and fesd fesaers hgh slow.

OTHER LIVESTOCK

INCINNATTI, Reb. 21 (U. P.).—Hogs— Stable, 2700; total, 2925; markef uneven; 0 £ 160-225-1b. $6.90@7; 75; most good Sacking Ee mainly, [email protected]. total, 400; calves, : market active, steady; medium steers and heifers, around [email protected]; vealers mostly steady; good and choice, $12.50@

Sheep—Rec:ipts, 100; good to choice wooled lambs, $11; individual 80-Ib. kind a8 hiza a as sat 25; Ph around steady. FT. 3 “gy, TT

wi

abl e,

ughs, $6; stags . $4. (Th calves, $13.5 est-

{ ern lambs, $10.25@10

U. S. STATEMENT

WASHINGTON, Feb. 21 (U, P.).—Gov- | ernment expenses and ag 53 for the current fiscal year through , 19, compared with a year ago!

Expenses ..$7, 047.8 Receipts .. 3 "859.980, 5617. Gross I ne 3,487,879,040.

JEWELRY | CO. Inc.

. Yesterday o....... eevsuan

Z Inc eo Lone Star Cem. is

» | Nat Acme. ...

+, |SWitt Ths

to around $11.25 on u

ew | ood grades to small Ciiiers. 10. 75; two |r \ fon s good to choice 90 Is recently shorn

N. Y. STOCKS

By UNITED PRESS

DOW-JONES STOCK AVERAGES

30 INDUSTRIALS Yesterday «eee 119.99 Week Ago ........ Month AZO «....coavevveens Year Ago High (1941), 133.59; Low, 117.66. High (1940). 152.80; Low, 111.84.

20 RAILROADS

+2.05 —3.44 +0.18 —0.99

Yesterday Week Ago .. Month AO «.....00. Year Ago High (1941), 29. 73; Low, 26.54. High (1940), 32.67; Low, 22.14. 15 UTILITIES 18.86 18.85 20.35 25.05 20.65; Low, 18.81, 26.45; Low, 18.03.

Week AZO c.oviveaee Month Ago .. Year Ago High (1941), High (1940),

; Net Last Change 163s is 37% .

High Low 63s 163s 37%;

Vs Ys 3

ansh Su arin Mid | arohall Fld

engel 1st pf iami Cop .... o Pac pf .... Ward ...

M V V M Ma McKesson \ M M M

ont

N Ch & St L.. 16 «o 18% 9% f.. 43%

2 Phelps Dodge.. Phillips forge: 3 Pitts Stl pf ... 4 Progjer & & G 5 Pure oil

esctay

Republic Stl ... Reyn Tob B .

Safeway Savage Arms .. Seabd Air L .. Sears Roebuck .

Spiegel Sop i. Std O Onl. ... Std Oil Ind..

a ey et

Gil pf... . Sunshine 2. . Swift

+4! +4 =

. 227 b wees 172 172

a . 3512 351s 29% 4%

Texas orp . Timk-D A Truax Tra ores

Ite Ht

+19 S Rub 1 pf. 83 Steel ..... 57%

Walworth .....

es ng Bl cee 9312 Wheel Stl pf 132% White Mot .... 13% White Sew ... 4Y2 White SM prof Raz ‘Wool w Wright i “os 50

5%,

a

SS

ad

DHE HH aaa i

l -

. 34% . 15%

a

Young Shest . Young Stl Dr.

++

34 15%;

LOCAL ISSUES

The {oliowing £ potations by the Indianapolis Bond & . do not represent actual 2 or £0 Tg but merely indicate the approximate market level based on buying and selling quotations of recent transactions.

Stocks

Agents Finance Corp com... Belt RR E Stk Yds com.... Belt RR & Stk Yds pe Central Ind Pow 4.7% Comwith Loan 3% 3 ptd Hoo! % & Drug Inc Ft Way pn

Bid Ask =n Ya

1 vid 50 v 108 09 pls Hydro. Elec 0% a . d Dis s P&L Ing pls P&L Bi 1s Water fd coln Nat oie nd: Pub Serv 3%, Bd: Ind Pub Serv 6% N Ind Pub Serv % Progress Lanndly Pub Serv Co of Vina 8% pid: Pub Serv Co gt id 1% oh d.. i Ind G& veea101%2

Herre Haute LenS & 0 Pra se 39 Union Title Co com 31 n Samp Milk pid . Van C amb Milk c

GUARANTEED

Vz 172/A TL

AT OUR USUAL LOW PRICES

{EE

STOCKS MOVE IRREGULARLY

Chemicals, Aircrafts Gain; Motors, Steels Dip; Volume Eases.

NEW YORK, Feb. 21 (U. P.).— Stocks moved irregularly today in smaller volume. Chemicals were strong with du Pont up 2, at 144, and Allied up 1, at 146. Aircrafts had minor advances. Motor and steel issues were fractionally lower. Public Service led utilities down with a loss of 11; points, at 253%. Westinghouse Electric had a gain of nearly a point at 94. Small advances were ‘made .by American Can, American Telephone, Good-

| year, International Nickel, Stand-

ard Oil (New Jersey) and Loew's.

% | Minor losses were noted in Western

Union, Kennecott, Anaconda, Santa

4|{Fe and New York Central.

Mercantile issues held well on the Dun & Bradstreet weekly report on trade which showed retail trade 12 to 20 per cent over a year ago. Automobile output set a new high for this week at 129,240 cars and trucks, the Ward's estimate revealed. Last week’s output was at 127,510 units and a year ago it was 102,670. The Federal Reserve re-

.., |ported department store sales last

week 19 per cent over a year ago.

ered on. the wa other European

|

| of Public Service Co. of Indiana and

1Central Indiana Power Co.

UTILITY MERGER PLAN AMENDED

Fiscal Arrangement of New Indiana Corporation Is Altered.

Three Indiana utilities and their two subsidiaries have filed with the

plan providing for revised fiscal terms of their proposed merger. The new corporation contemplated would be named Public Service Co. of Indiana, Inc., resulting from merger of Public Service Co. of Indiana, Central Indiana Power Co., Terre Haute Electric .Co,, Inc, and their subsidiaries Northern Indiana Power Co. and Dresser Power Corp. The amended consolidation plan provides for issuance by the new company of 59% cumulative wdreferred stock with a par value of $100 per share, no par common stock, with a stated value of $25 per share. It also provides for cash payments to the prior preferred stockholders

to the preferred stockholders of Under the amended plan the present pub-licly-held preferred shares, including accumulated dividends to May 31, 1941, will be converted on the following basis.

Terms of Conversion

Public Service Co. of Indiana $7 curhulative prior preferred stock will receive one share of new preferred, one share of new common, and $29.54 in cash; $6 cumulative prior preferred will receive one share of new preferred, one share of new common and $21.75 in cash; and $6 cumulative preferred stock will receive six shares of new common. Terre Haute Electric Co. Inc, preferred stock will receive 1.20 shares of new preferred and $1.50 in cash. Central Indiana Power Co. 7 per cent cumulative preferred stock and 6 per cent cumulative preferred |g, stock will receive one share of new preferred, two shares of new common, and $11.25 in cash.

Two Million Cash

In other respects the amended plan is substantially the same as the plan originally proposed last April. Under the amended plan, trustee of the estate of Midland United Co. would own 490,974.13 shares of common stock of the hew company which is 44.28 per cent of the total. This includes 80,000 shares to be purchased by the Midland trustee for $2,000,000 in cash. The Midland trustee owns or controls all of the present outstanding common stocks of the constituent companies and other securities in the plan,

DAILY PRICE INDEX

NEW YORK, Feb. 21 (U. P.).— Dun & Bradstreet's daily weighted price index of 30 basic commodities. compiled for United Press (1930-32 average equals 100): Yesterday .......e.0ette0... 124.03 Week Ago... Month AZ0......es0ts0se0....124.79 Year Ago....-... 1941 High (Jan. 9)....e.0.....125.21

Securities and Exchange Commis-| |sion in Washington an amended

cscesnsseransnnresi 12335 : everressesss 119.95 OF

.No. 22

FRIDAY, FEB. 21, 1941!

Your Federal

money borrowed for the purchase person owes money on -a lien or

need not be evidenced by lien, the interest on it deductible. only by a note. ”

Interest paid on indebtedness

»

not deductible.

In such cases the amount is the sa

an instrumentality of the United United States or its possessions t authorizing the issue thereof). Al

return of gross income.

Interest Accrued or Paid on Debts Deductible, : With Certain Exceptions, From Tax.

Amounts paid or accrued within the taxable year 1940 as interest on indebtedness are deductible, with certain exceptions, from gross income in determining net income. terest on borrowed money to defray. personal expenses, and on

amount af the interest may be deducted.

Frequently indebtedness is evidenced

ligations (other than obligations of the United Sept. 24, 1917, and originally subscribed for by the taxpayer), the interest upon which is wholly exempt from Federal income tax, is

Interest paid on behalf of another where there is no legal ob ligation on the part of the payor is not deductible by the payor.

As interest paid is deductible, so interest received is taxable (excent interest on obligations of a State, Territory, or any political subdivision thereof. or the District of Columbia; or obligations of a corporation organized under act of Congress, if such corporation is

on bank. and savings deposits, must be included in the taxpayer's

Income Tax

Deductible items include in-

of real or personal property. If a mortgage note on his home, the Indebtedness, however, judgment, or mortgage to make

2

incurred in the purchase of obStates issued after

me as a gift.

States; or the obligations of the o the extent provided in the acts 1 such amounts, including interest

WHEAT PRICES DIP IN LIGHT TRADING

CHICAGO, Feb. 21 (U, P.)— Wheat prices on .the Board of Trade lost a small fraction of a

cent in quiet dealings today. Moderate commission house trade was apparent after the opening with some demand credited to milling interests. Soy beans dipped about 1 cent a bushel while other grains worked fractionally lower. At the end of the first hour, wheat was off ’s to lic, May 8lc. Corn was off %:c oats off 's tp 3c: rye off % to 9c, and soy beans off 31 to 1c.

FOREIGN EXCHANGE

NEW YORK, Feb. 21 (U. P.).—Following Le noon cable rates on major currenc Ce Rates Net She w2

pintand To nar kka) .... Switzerland (franc) ... Sweden (krona) . Japan (yen) Mexico (peso onsTesable only die 5 S. Treasury nse.

licen LOCAL PRODUCE

Heavv hens, 14c: No. 2 hens, llc: Leghorn hens, 9c: No. 2 Leghorn hens, 6c; Barred and White Rock broilers, 3 Ibs. and over, 19¢c; No. 2 broilers, 16c; roost-

ers, "Tc. Indiana Grade “A” large eggs, 15c: Indiana Grade “A’ mediu um eggs. 13¢c; Indiana small Grade “A” and No. 2 eggs, 11c: no grade. iy Butter—No. i Gan, @33c; No. 2. 30%@ 3c Butterfat—No. 1, 29c; 2, 28c. County pickup prices quoted by the Wadley C

FOOD PRICES

CHICAGO, Feb. 21 (U. P.).— Apples Michigan, Jonathans, bu., [email protected]. Celery—Michigan squares, $1. [email protected].. Tomatoes—Mexican. lugs, $2.75@3. Spinach— 5@85c. Cauliflower, crates, Carrots — California, crates, Lettuce — California, crates,

, . Onions (50-1b. Illinois Yellows. 60@70c: Wisconsin Yellows, 65@70c; Michigan Yellows, 65@75c. c—————a————————————————

WAGON WHEAT Indianapolis grain elevators are naying No. 1 wheat 79c; subject to market ANE: ober grades on their merits. Cash

1941 Low (Feb. 17)........-. ..123.03

Leland Stowe (right) was greeted by George Christopoulos, Greek vice consul, on his arrival in New York by Clipper plane. -

Monday's Indianapolis Times will carry the first of a series of eight UNCENSORED articles.by the world-famous war correspondent LELAND STOWE. Safe back home—unmuzzled by censorship—

Stowe is ready to tell about the things he has seen and the facts he has gath-

r fronts in Greece and countries—the story of

£orn; new No. 4 white shelled corn, 57¢; No. 4 yellow shelled corn, 53c; No 2 ‘White oats, 32c

THE WAR IN GREECE by LELAND STOWE

NGEN

STOWE’S

WILL COVER: 1. The War in Greece 2. The War in ‘Africa 3. Scandinavian Twilight 4. Where Does Russia Stand? 5. Hitler's Alternatives

6. Britain's

7. Europe Looks at America

Europe's inside spy systems and fifth columns—and what the war now means to the people of the United States—as he sees it. Stowe's article Monday will

describe THE WAR IN

‘the titles of other articles in this anStart the series Monday.

nouncement.

Be sure to read LELAND STOWE on THE

WAR IN GREECE in .

8. The War as | See M

Extra Commission Charge Dropped

NEW YORK, Feb, 21 (U. P).— | The extra commission charge which Pacific Coast traders have been paying for more than 20 years on security transactions on the New York Stock Exchange soon may be

eliminated. The stock exchange firm of Mer~ rill Lynch, E. A. Pierce & Cassatt has announced that it would drop the “overriding” charge on Pacific Coast business in New York stocks, which had forced traders on the West ‘Coast to pay commissions about $5 higher than on transactions booked in this vicinity. The action, Wall Street quarters believed, will be followed by other members of the Pacific Coast Association of New York Stock Exchange firms, representing member houses with West Coast branches. The extra charge had been levied, 2|the Association said, because of wire costs involved in handling business from the Pacific Coast.

JOBLESS BENEFITS RISE IN JANUARY

Unemployment compensation benefits in Indianapolis area during January -were $97,286 as compared with $76,486 in December and $152,978 in January last year. About 2400 persons drew benefits each week in this area last month compared with 1800 in December and 3500 in Joguary last year, according to George J. Smith, manager of the State Unemployment, Compensation Division's local office. A rise in claims is normal after the first of the year, officials ‘said, partly because some industries curtail operations during the worst winter weather and partly because of the seasonal reduction in retail and wholesale employment after

1 :

°-lthe ‘holiday rush.

SORE

ARTICLES

Alternatives

GREECE. Note

Monday’s Indianapolis Times