Indianapolis Times, Indianapolis, Marion County, 14 May 1941 — Page 21

— ?

WEDNESDAY, MAY 14, 1941

BUSINESS

Commodity Markets Capture Spotlight

Because of War Demand, Lack of Ships By ROGER BUDROW - |

COMMODITIES ARE IN THE LIMELIGHT these days and probably will remain there for some time to come. What happens in commodity markets is of interest to many persons. And when the effect reaches the price tags of products on store shelves, it becomes of interest to everyone. Most spectacular commodity in the last few days has been cotton which rose $3 a bale yesterday and 70 cents more today to the highest price in four years. And the price

of cloth made of cotton is going up, too. Night and day, outdoors and inside the huge hangars work the 23,500 employees of Lockheed Aircraft

Routes of ocean-going ships are | 1 00 MORE ARMS Corp, turning out Hudson bombers for the R. A. F, ahd P-38 interceptors for the U. 8. Army Air Corps

to be rearranged to help the British. There will : | and R. A. F. Here some of the workers are swarm ing over a Hudson on the outdoor assembly line while lights cast an eerie glow over the scene. Outdoor assembly 24-hours a day is a chief reason why 60 per $5,568,000,000—a new high since the

be fewer boats lyin between | Pp Yirke Africa PLANTS LIKEL cent of America’s aircraft are manufactured ih Southern California, More than 10,000 Lockheed men | are on night shifts. banks began compiling these loan SR ——— % |data in the present form. New York N. Y. S7 (( 'K S H 6 RIC |City banks accounted for $14,000,000 » ® of the week's increase. 8y UNITED PRESS ABOVE $9 FLOOR Loans to brokers and dealers 40.07 —0.23! M——————

and this country but cocoa consumers are not worried be- . down $13,000,000 in New York and | DOW-JONES STOCK AVERAGES $21,000,000 at all reporting centers. 30 INDUSTRIALS Holdings of U. 8S. Government Yesterday direct obligations were increased Week Ago i +081 . cox $9.10 Paid at Stockyards For Choice Porkers; Vealers Steady. HOG PRICE RANGE

cause most of this crop has $49,000,000 at the New York banks| BUENOS AIRES, May 14 (U. P.). . Month Ago ......ceoviiinns and $98,000,000 at all centers. for the latest month, however, was Year Ago Top «$8.73

already crossed the Atlantic. And the Mari- : | —Argentine exports in the first four | considerably below the revised High, 1941, 133.50; Low, 115.0. po ury ul anes bi BR months of this year were down | March figure of 7,131,641 tons, ree Bh Ye 2 RAILROADS while Government bonds and Treas- | 219,000,000 pesos ($52,321,500) or 32.9 | flecting the adverse effect of the .. R88 . 8.35 RY

Roger Budrow Ulme Commis- By JOHN W. LOVE sion has promury notes were up $18,000,000 each. |per cent from the corresponding | philningy Soal Sopmage. ‘ov Holdings of Gevernment-guaran-| ering of 1940, according to official 8.35 8.88

Ti 8 1 Ww ised to keep pienty of boats going Wits: Spin) Writer teh, I Le OR \which curtailed essential coke ‘Sipe teed issues remained u anged trade figures issued here today. 9.00

STEEL OUTPUT GREATEST EVER

U. S. Mills Made Nearly, as Much in’ 4 Months as Reich in a Year.:

NEW YORK, May 14 (U. P.) w= Production of steel by United States mills in the first four months: this year reached an all-time record and came within 5 per cent of the total estimated output of Germany (for the full year 1940, figures re {leased by the American Iron & | Steel Institute disclosed today. | Spurred by the defense program, | American producers turned out 27,056,024 tons of steel in the initial four months this year compared with 18,780,177 tons in the corres sponding 1940 period. Based on figures of the Institute, estimated production of Germany for the 12 months of 1940 was 28,150,000 tons. In addition, the four months’ total was greater than total United States steel production in all of 1932 and 1933 and within 2,000,000 tons of total 1934 output. April production was estimated at a new all-time high for the month of 6,757,728 tons against 4,100,474 tons in April of last year. Output

THE INDIANAPOLIS TIMES -

24 Hours a Day for the R. A. F.

BANKS LENDING MORE MONEY

Federal Reserve Reports | : Heavy Buying of 4 | a oe Treasury Bills. 3 Gi WASHINGTON, May 14 (U. P.).— A continued expansion of commercialloan activity by Federal Reserve member banks in 101 leading cities and further heavy buying of Treasury bills lifted their total loans and investments $51,000,000 in the week ended May 7 to a new record high at $27,601,000,000. Member bank loans were increased $22,000,000 in the latest week while

investment holdings showed a rise of $29,000,000, according to the Reserve System's condition statement. Commercial, industrial and agricultpral loans of the reporting banks weré up $36,000,000 to a total of

Mona

Francis J. Schuster, vice president of the Troy Oil Co. of Indianapolis, will be chairman of the annual Central Indiana dealers meeting of the Tide-Water Associated Oil Co. tonight in the Athenaeum,

ARGENTINE EXPORTS DOWN 32 PER CENT

| ‘New Defense Goa! Calls for | All the U. S. Is Able To Produce.

Net

High Low Last Change

—

Allegh Lud Stl.. 21% Allis-Chal . 26% |Am Ag Ch Del . 162 Am Bank Note.. §

21% — 1% 26% 4+ a 16'2 6 1'4a 3 8% .... 1451, 5% | . 149% Hi a set of priorities and these becom- 4h a 0 ua | Yesterday

«+ | Week Ago ing ever more complicated. it Month Ago Year Ago High, 1941, 29.35; Low, 20.54, High, 1940, 32.67: Low, 22.14, 15 UTILITIES

21% 28% i6'2 8

1'%

1 -—

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ica which assures cargo space for ceilings are being lifted off the | Brazil's cocoa crop now being har- armament plans here, leaving only |; vested On the other hand the Japanese, fearing the Panama Canal will be | closed, are buymg heavily in Latin | America—Brazilian rubber, Boliv- No less than what the resources and 1 Balt & ghie “ ian tungsten and Mexican mercury [discipline of the ation will permit Borden .. -.... 3 . . : , J | Bucyrus-Erie ... Vs and prices are going up, for them |us to reach. Such limits as remain, | x as well U, 8. |In the shape of orders and appro- Buse We \ day, There are scads of rumors: Con- (Priations, are onlyfor making sure|caianan zine. .1: EIA ABO: is ssnsr tetas gress may lift the $9 floor on hog|the sets of parts match up. Soke JI pt 1, | Year Ago prices to $10 because of higher feed | It's just a problem of what should |Geiotex: » 0%: 118 “| Migh, 1941, 20.65; Low, 17.31, costs: American flour mills may {Come first—after allowing for the Shes & Bn a High, 1940, 26.15; Low, 18.03. be used to grind Canadian flour effects of a certain number of labor because of Luftwaffe damage to | disputes. | Ghryel British mills; Government may fi- | A new set of shocks, second only | Clvett nance building of synthetic rubber | to those of last spring are respons- |S) = Oey A plants like du Pont’s neoprene ible for reopening the debate over | Com Credit oy 221s plant in Louisville—so far these Whether we have enough steel fur- Eom Inv Tr... 20% ersatz plants are privately-owned. Naces and rolling mills, as well as|Comwith & So. % : for decisions to double or triple the Sons Aircraft . 28% aluminum and synthetic rubber in- | Cons goal 8

between the U. 8. and South Amer-| WASHINGTON, May 14. — The the New Vork dictiich and. were plies in many sections of the ine Receipts Total exports for the four-month

Wo reduced by $4,000,000 at all reporting dustry, steel mill production for 9.764 | CENLETS, while fvevuments Bn euier period were placed at 446,000,000 2p Jun Jedieed $0) ns Bor Cent 12,13¢ | Securities were down $65,000,000 with | 1, (106,371,000) against 665,000, |g... a 2, ; $ wil, WUE March. The April average, hows +939 | New York banks accounting for 000 pesos $158,602,500) a year ago. ever. p g The decline in volume of exports, year-ago level of 61.2 per cent.

1.500 | $43,000,000 of the week's decrease. compared favorably with the the report showed, was even larger, BUSINESS AT A GLANCE

9.290 LOCAL ISSUES with a total of 2,070,000 tons of By UNITED PRESS

9,177 Tuesday, May 18 Argentine merchandise shipped Allied Kid Co. first 10 months

May May

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For the first time since the Government pork-buying program was announced early in April, hog prices at Indianapolis stockyards | rose ahove the $9 “floor,” the Agri- * | cultural Marketing Service reported. A 10-cent gain was made today in all hogs weighing more than 160 pounds which lifted the top

wo © WRN DO V-T

Net High Low Change aR . 33% «1134

& PF..... 8% Last Peab pf 145 AE suis 181%

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e | Radio ........ Ravonier Reading Repub St] Richfield Of

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The following quotations by the Indian-| abroad in the first four months of SPL nctunr Drice sf offerings. hue. merely | 1041 against 4,434,000 tons in the 1940 indicate the approximate market level | period, or a decrease of 53.3 per cent. | ¢ current fiscal year ending June based on buying and selling quotations of | Most of the trade decline, the re- | 8 recent transactions. . : . . . | 30, sales $7,778,970 vs. $7,635,033 year . port said, was caused by reduced |’ ’.. .. Stocks Bia Ase |B Oe : earlier; April sales $932,166 vs, Agents Finance Co. Ine. com g |shipments of grains and linseed. $659,747 year ago Agents Pinance Co., Inc., pf ... 1 Wool and metal exports were larger el fs : Belt RR & Stk Yds com 8 |ithan ir the first four months of | American Commercial Alcohol Corp. and wholly owned subsidiaries,

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yy # 5 Ll, | Sears 701% Belt RR & Stk Yds ofd

CANADA HAS SOLD 120 million bushels of wheat to Britain, which believed to establish a record in world wheat market for a sintransaction. Price was not reMinister of Trade and James A. MacKinnon. will be delivered after Aug. 1.

iS the gle vealed bh Commerce

WwW

bat ” » s BECAUSE THERE aren't enough nkers. oil is now being piped by jard Oil of New Jersey 1700 mil from East Texas and Ar-ransas-Louisiana fields to New Jerthe first time In Company says 27,500 barrels

fn 101

recent |

HL OWNS Pa >

dustries, greatly expand the air-|Sont Bak A .. craft factories again, and add to | Corn the electric power, electro-metallur- | SY gical and heavy forging plants.

| Curt Pub pr pt Third Group Planned ID Lac & W

One of these alarms originates Det Edison with a group in the Army which Yubl 3 Rory! suspects the Americas will be left T&L 36 pf 32 alone in a hostile world by next Eng Do 5 Hn 3 autumn. Another group in the Erie 1 of Army, like the Navy, is more opti- | mistic in one way but sees the War Gen oa Nig lextending three or four years more, |G G&E 6 cv pf. . . and being ended only through|gih ows ©" Sty | American production of armament § 5. {on a scale the public does not begin

13% 21% 702 1 4

“IB -

3% 34 1: 321, 321, ln

Sh 35%

ves 83 3 . 20% 20%

323% ! .. 84 351% SY 4+

5% 14 / 37% + W 1 .

| Gimbel Bros ...

| Goodyear Gt North

9p

+ Wa - Is

Roebuck. 70'4 Shell Un Oil .. 1414 | Skelly Oil 275s | S6cony Vacuum 93; Cal RA .... 23

| Stone & Web. . | Studebaker ....

Texas Corp ... Transamerica .. A Twin Coach .... 6% a 6634

81%

Union Carb ... 6624

Un Pacific

Un Carbon { United Corp ...

2 ling 160 pounds or less sold at the

+ lceived, 600 calves, 9500 hogs and

f crude oil will be moved that way to comprehend. a day. Cost is around 67 cents a| barrel, |drawn is that the whole 4,000,000 " 4 @ {men will have to be trained in the

LO | Gulf Mobile & O One of the interferences to be Gu M & Oh pf..

| Hecker Prod .., Holly Sug

Ys | United of... 2 + US Tha AIS Ves Ya|U S Steel {92 Stores A ...

"Yo Walker, H-G&W 27% 271%

prices here to $9.10 for good and choice butchers weighing between 200 and 210 pounds. Hogs weigh-

same prices paid yesterday. Vealers were unchanged with a

timated 1400 salable cattle were re-

200 sheep.

Tuesday, May 13 HOGS Barrows and Gilts

140 pounds 160

IDV DD Boa 2258823

2

$12 top. The marketing service es- |!

«se 8 Central Ind Pow 7% pifd....114'2 OComwith Loan 8% pid 98%

1 ne 7% pfd 50

Hook Drug Inc com Home T & T Py Wa ind Asso 8 Co §

p & L_ com Indpls Water 5% Lincoln Nat Life N Ind

N Ind Pub Serv 7% pf com Pub Serv Co of Ind 67 pfd. Pub Serv Co of Ind 7% pid... 3

3 pfd.

Progress Laundry

So Ind G&L 4.8% Terre Haute Elec Union Title Co com

van Camp Milk ptd .

Van Camp Milk com Bon

last year.

L. & N. WILL REDEEM $143,000 IN BONDS

117% 101% 17

53 fd 104% 107% «ee. 109 ee

first quarter equal to 25 cen vs. $51,475 or

Consolidated

lof its unified mortgage bonds with of $2 preferred

due Jan. 1, 1960.

principal amount plus accrued in- |

. 0 ssvssies 11 terest up to the date of redemption.

net profit,

$65,018, ts a common sharé 19 cents year ago.

Film Industries,

(Inc, and subsidiaries March quar= NEW YORK, May 14 (U. P.)— ter net profit $174,380 before pro=

The Louisville & Nashville Rail-|vVision for Federal surtax on undise road Co. on July 1 will call for re-| tributed profits but after all other

106 |demption $143,000 principal amount |charges, equal to 43 cents a share

stock vs. $179,299,

|extension agreements of Series B, or 45 cents, year ago. B. F. Keith Corp. and subsidiaries The redemption will be made to 13 weeks ended April 5 net profit bondholders at 105 per cent of the $135,157 vs. $209,455 year ago. Keith-Albee-Orpheum Corp. and | subsidiaries 13 weeks ended April-5

99.05.30.00 95 00 38 95.00 ~3 DDD ID DIT SSIPND DID Oran

23323998 ®®@osD 0mm

0 Medium— | 8.85 |

American Loan 5s § American Loan 5s Citizens Ind Tel 4%s 61 ..... Qonsol Pin 58 §0............. 8 Crabb-Reynolds-Taylor 5s 42... Home T&T Ft W

ARTILLERY FOR U. S.

|estimated net profit $236,680 equal

‘HARVESTER TO MAKE Ito 10 cents a common share vs,

| $312,452 or 16 cents year ago. | Merck & Co, Ine, first quarter

160- 180 pounds 106 33 2! 108 15-1 22% 4% 27%

{net income $1,057,481, equal to $1.09 ios WASHINGTON, May 13 (U. P.). a share on 900,000 common shares 87 5 64 |—The War Department today after recent 3-for-1 splitup; cone a 108'2 awarded a $12,120,000 order for pro- |solidated net sales $9,592,006, record 103 |ducing artillery to the Minneapolis- | high. No comparisons available for 103 st, Paul plant of the International year ago, since company did not 100 | Harvester Co. {then issue quarterly report, 109% | The contract includes $3,750,000 | Richfield Oil Corp. and subside 109 |for plant equipment and facilities. |iaries first quarter net profi 103,, | The Minneapolis-St. Paul plant will ($723 442 equal to 18 cents a share 73 |émploy approximately 1500 men. vs. $947,550 or 24 cénts year ago. ————— Si —s i

Warner Bros ... 3% | West Auto Sup 26'% a oy 32%

SEC'S REPORT on March trans- | “critical items” to be supplied for | actions reveals William H. Mooney | that number, and that the building im central bought 100 shares of Indianapolis [of cantoments iwill be increased | Inspiration Cop. Power & Light Co. common stock along with the building of factories. Ios Harvester .. (he’s a director) increasnig holdings One String Nearly Done at Nick ..... 3 to 125 shares; that Robert F. Miller, The projects for

| Home mM Packing Sows [Ind Assoc lel Co | Good and Choice~ |Indpls P & L 3%s 170 4! 270 300 pounds ....¢..i0000..8 8.50 | [ndpls Railway Inc 5s 300- 330 pounds ...... "esses ? 8.50 | Indpls Water Co 3'28 66 330- 360 pounds ......eevqeen @ 38.40) Kokomo Water Works 5s 58 Gobod— | Kuhner Packing Co 4%s 49

el; 15-16 221, 41%

“ee 4% . 27%

27%

HES E

7.00@ 7.60

wo 582 PO eNO

kd ft Bo pt pt DD DD prt pt ps

Mack Tr Macy RH

4 EL Se WR | : | ve 400- 450 pounds .- @ 8.25 | Muncie Water Works 8s 65 ordnance plants ich are to Tre | I 8 i PURCHASING AGENTS Mogium os BH SO NN ap bh Serv 3% 89 01 Y AT - i v tries at Columbus, Ind. sold 100 of | p | BE pounds N Ind Pub Serv 3 2:10 Piling EE » 3 Medium and Goo Pub Tel Co 42s 53 shares of Ayrshire Patoka Collieries (fore the others are completed, are fia \ R au 30- 120 mR L ! X |industrial in character. Lehman .“ *| day Co. was re-elected president of Steers expects to buy very little U. S. cot- began breaking ground last August Loft. Inc 900-11 pounds Howard Muller of the American poun it bought so much from Brazil, and | nroduction, are to use materials Good— MoKesson Rob. Package Co., secretary, and Maurice

K {Int Sait 360- 400 pounds ........ 3.38 | Morris 5 & 10 Stores 5s 50 .... director of Noblitt-Sparks Indus- | Int T& his shares, now holding 1775; thas low ihe Soup SO oll undes one tHe Haves B ; 1% Slaughter Pigs a Bub Serv of Ind 4s 69 7 e I y struction, an : announc - | ott : - 3 4 Stra qmm et Pierre F. Goodrich bought 110 more |SUr a | Kresge 8 RE-ELECT STALKER ! Be 120d Richmond Water Wis 58 8 s res Trac Term Corp 5s 7 Corp. common. being augmented by another string a y P of Government plants more basicly (ren val RR... George Stalker of the W. J. Holli- | gaygnier Cattle & Vealers (Receipts, 1890) | n » o Coie 9 0 ODDS AND ENDS: Tokyo says it| The first group of plants, which |Livey MeN&L. - : 14 | the Indianapolis Purchasing Agents Choleer, pounds Lo Ine 1 “ire | Association yesterday. 18 suse . ton in the next few months because |a;,q in a few instances are now in! ren: & “Nash .. | 1300-1300 Bounds iriver Paper Stock Co. was re-elected vice 3 cheaper, too. . . . Joseph L, Trecker fram already existing sources, Naval president; Edward Grebe of Paper .% Bounds ee of OPM says Government may oun works drawing on the steel in- : Nord, Basca Manufacturing Co.,

FAN DDD aos 3338

-1100-13 pounds .. 1300-1500 pounds ......... Medium

oO

make it mandatory for larger con- | qustry, ghell-loading plants on the

tractors to farm out defense work to small shops and claims only 50 per cent of country’s productive ecapacity is being used now, -. , , Association of American Railroads estimates about 1,050,000 freight cars a week will be needed this fall when the big “squeeze” comes. . South Carolina is trying to get cotton mills and textile plants to move there to use cheap electrical power from the $50,000,000 SanteeCooper power project when it's done. . .,. U, S. and Canadian railroads report they transported 600,000,000 pounds of explosives last year without a fatality, making 14 deathless years now, , . . American Petroleum Institute, quoting the “London Petroleum Press Service,’ reports that blitzkriegs use up 2 lot of oil but only for a short time and therefore Germany has enjugh oil to last her vast air and mechanized ground forces indefinitely. . In the foreign news: A group of 350 agricultural workers left Bari, Italy, today to join thousands of other Italians already working in

Mo Pacific pf.. forging shops, TNT plants on re. |Motor Prod ... 8 cently erected toluene plants, and so on. The next group apparently {has to go farther up the industrial ga aa pt 3 |stream and make sure of additional | Newpt News Sh. power or materials supplies, putting NYC jup plants with Government funds {where there are no longer endugh companies willing to take chances lon their later commercial use. Pac Coast 1 of

» ‘Borrow From Today Pac Coast 2 pf.

| One such industry is believed 10. pocnasaie™! : : i be heavy forging, an art which no k LS -- 312 4 3 Ya longer has. the place it once had : . in this country, relatively, but which is essential in the manufacture not only of armor plate but of propelior shafts and the like for ships. Had

Nat Biscuit ... Nat Can Corp.. Nat Dairy

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Cd Cd pt wt BH ps pe ' 3 Rea

Ohio Oil

35 2 14

2 1

FLEE:

1

treasurer. was again selected Installation of officers will be held

George Lilly will be chairman,

HANES A DIRECTOR

| NEW YORK, May 14 (U. P.).—

John W. Hanes, former Undersecre(tary of the Treasury and former {member of the Securities & Ex(change Commission, has been

4 elected a director of the Republic

| Aviation Corp. it was announced

: today.

it not been for a large supply of leftover blanks forged in the World War, the production of cannon cculd not have gone forward w:.th the (speed it has shown in recent months. In Germany the heavy forging in|dustry maintained a more important position than it did in this country, and was ready for Hitler's orders

eight years ago.

Oil Men Keep

It Quiet But

Supply Isn't Too Heartening

By JAMES J. DOWNING United Press Staff Correspondent

George Mercer of P. R. Mallory representative , | VO the National Association of Purchasing Agents of which the local "y, | association is a part.

at Hillerest Country Club June 12. a 0-0

Germany and will remain for the For the American Government to harvest. |start building another string of manufacturing plants, or iis use ls her industries to a 0 «NEW YORK, May 14 (U. P)— or ie a substantial Stockholders and creditors of Mc- |, aunt of steel, electrical equipment Kesson & Robbins, Inc, have ap-|.,,q other materials would have to proved by an overwhelming ma- 'be taken out of intended uses and gority the plan proposed for re- | devoted to the provision of capacity organization of the drug and liquor to be used a vear or two hence. The firm, and a court hearing for final same would be true of the skilled consideration of the plan will be labor required to build these plants.

DRUG PLAN APPROVED

TULSA, May 14 —America 12 billion-dollar petroleum industry | isn’t publicizing it much, but the current situation in regard to crude | oil supply is about to bring the most widespread wildcat drilling cam- { paign in many years, according to private advices here. Although the industry has been reiterating its qualifications to supply any defense needs of the nation, many observers are somewhat pessimistic when they consider current trends. them to keep up with needs. Facts are that not too much Oklahoma's new wells, most of ‘crude oil is being produced at this'them in areas of established pro- | time, according to some quarters. quetion, have been averaging low

750-1100 pounds .. 1100-1300 pounds .. Common

m - 750-1100 pounds Steers, Heifers

Cholce—~ 300. 750 pounds 500- 750 pounds Aoifers

= an oD wo

11.%[email protected] [email protected]

. [email protected] | . [email protected] | [email protected] 8.00@ 9.00

Hi

8.25@ 8.50

8.254 850 3@ 8.25

sett ranntane

thie

ood { fhoatum “. | Cutter and

common ... Canner

| Beef | Good Sausagé—

Feeder and Stocker Cattle Steers

(Receipts, 694) 03 [email protected] [email protected] [email protected] 8.75@ 9.50 1.750 8.75

Choice 500« 800 POUNAS .......00unee 11.25 800-1050 Dounce Seernstsuinne Good

500- 800 pounds ...iieeiinnes 800-1050 pounds Sees bennate edium-— 500-1000 pounds Mon « 500-

11.00913.00| [email protected] |

500 pounds down

Medium — 500 pounds down............ Calves (heifers) Good and choice a [email protected]

[email protected] SHEEP, LAMBS (Receipts, 792)

Lambs (Shern) Good and choic

Plan to attend... but if you can’t, you still can get EVERY THRILL of The Indianapolis 500-Mile Motor SPEEDWAY RACE Accurately Recorded by

bray,

TATE

$0.23 3.39 8.00 00 8.75@ 7.75

| 00@ 4.50 00@ 4.9

HICAGO LIVESTOCK |

held her ay 15, : eld here on May 15 | Something would have to be bor- | while others contend that produc- initial output. Thirty-seven SEN N : : (rowed from the production of today tion is being held down in various wells completed in a recent week | Common CASH IN A FLASH

in order to increase it in 1943. lareas to create an artificial short- had an initial production of only | Good and JO. 3.4 3 r Te : J yi le

x ——~ {age and justify further advances 9351 barrels. Kansas’ new drilling | “°™™o" he Megim 1 “AD CHICAGO GRAIN believe that some major states plan 20 Months to P-A-Y

in crude oil prices, several experts has been more successful. During! .: lan the same week, Kansas completed | Opening prices today on the Chi- to open new fields and offset dwin- 34 oil wells with 42,426 barrels| Hogs—Receipts, 11,000; opening cago Board of Trade, as reported dling production in established daily potential. | strong to 10 cents higher than yes- | by Thomson & McKinnon, were: | pools. | In Texas, Oklahoma and Kansas | terday's average; good and choice OI DFST AUTO LCAN CO. IN INDIANA 110 bh AL 1 R «

oil | Medium and good

WORD AND PICTURE

in TWO SPECIAL EDITIONS

WILBUR SHAW

THE INDIANAPOLIS TIMES

'» Full advance details of the The Souvenir race and a review of Jormer events mailed before May 30th,

WINNERS—A complete reporting of the world's greatest race mailed as soon as posgible after the sweepstakes are finished.

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(Print)

NAME rrr reat ter rst stats st ates aatantantane

ADDRESS SENNA Et eet N taste RNe CITY AND STATE SRENRt ets seer tetra ttBatBatstesanntsntee

It any of your friends desire theses {wo editioris mailed to them just include their names and addresses with remittance to cover,

Wheat : wk. & heh Illinois is getting wide exploration alone, between 350 and 300 new | 180-270 Ib, weights, [email protected]; | Comm rt 4 @- 0814 B6%@ 06% [email protected] | play and new areas are being tested | wells are being drilled every week, early top, $9.10, OCattle—ll 000: oars 7 @.8% 18% in Oklahoma. |indicating the rush for new pro- calves, 800. Sheep, 3000. ETE 35 Oklahoma has held its place as duction, Rye— " _ s814@ 58s | onird heaviest producing state in| Another factor not being noised WAGON WHEAT

Caltormia-—but. a representative of Sine. stocks. this spunea oh Rta Be ga, SHE ROE Preferred Stocks of NEWTON Realty Companies 1000

all | elevators paid 87c per bushel for No one major oil concern believes the industry leaders would 415 Lemcke Bldg. MA. 6222

The Final . .. | BUY

like for | ted, wHeR i grades on their merit, state may have to take the “wraps” them to be. Aside from a “com-| No 5 veiloe Py 2 wbie han | | off to keep up with current Wethet fortable” seven million barrels of | orf, 73¢; No. 2 white oats, 33c. demand for its production. Nearly aviation gasoline, for which de-/ | a score bf formerly prolific produc- mang a has been light, the DAILY PRICE INDEX | ‘ing areas have been released from industry can boast of only about | NEW YORK, May 14 (U. P).— to 92 million barrels of domestic gradé| Dun & Bradstreet’s daily weighted motor fuel, | price index of 30 basic commodities, Some observers fear that when compiled for the United Press 1930defense needs really begin to put) 32 average equals 100): : the pressure on the refining branch | Yesterday ......c...v.oce.s. 133.08 of the business, domestic non-de- Week ago ChB entnst tne 132.58 fense consumption may have to be Month 880 ...ce.evceveenees 120.67 cut—as has been the case already| Year 880 ...........veeseves 11051 in e¢ertain manufacturing itidugs) 1041 High (May 13) ....eees 133.08 , tries, such as automobile building. | 1941 Low (Feb. 17) ......... 123.03 |

Represented by | 0 AN S on Everything!

J. Dwight Peters n Vi 1 . i i Diamonds Watches » + y 1 H N .

| proration restrictions enable

CITY SECURITIES CORPORATION INVESTMENT BANKERS Incorporated 1924

Richard C. Lockton Howard H. Jones Clothing, Shotguns, Ete.

E. W. Barrett Russell D. Priest

Wayne E, Paulsen

+ 417 Circle Tower

C. W. Weathers

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JEWELRY CO, Ine.

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Frank J. Parmater W. Stewart La Rue Musical Instruments, Cameras,

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