Indianapolis Times, Indianapolis, Marion County, 28 August 1941 — Page 20
BUSINESS
The War Has Cut the Business of
All Translators for Export Concerns :
By ROGER BUDROW
THERE ARE SEVERAL PERSONS HERE who make A a living at jobs which are by-products of Indianapolis’ for-|4m Cabl
eign trade.
done by correspondence.
good business.
That is, it was a good business | until the war came along. That | knocked off a good deal of trade and naturally, correspondence. Pedro A. De LaCruz is one of the translators here who is employed by a number of the biggest firms. He came to this country from Puerto Rico in 1919 to serve as interpreter a t Camp Jackson, Roger Budrow S. C., after being rejected for the Army because of physical qualifications, At present he translates letters for the Atkins Saw people, the Gibson Co. Link-Beit, Potts Foundry,
Skinner Steel Products and has]
done work for Eli Lilly, Cummins Engine at Columbus and advertising agencics. He used to translate about one million words a year but business isn’t that good now. Most of his business is writing letters in Spanish, French, Portugese and Italian to firms in South America, some to Asia and the Near East. Then, of course, he has to translate their orders back to English so they can be filled. The other day the E. C. Atkins Co. received an order for some “fresas” which in Spanish, means “strawberry.” Now Atkins makes saws, armor plate and a good many things but they don't sell strawberries. It finally developed that the foreign concern had mixed in a little French and Spanish and made up a brand new word. What they really wanted were some “reamers.” Another firm here got an order for 5000 “wachitas” from a Mexican concern. Mr. DelLaCruz couldn't find the word “wachitas” in any of} his dictionaries. It turned out that] it was another coined word and the company really wanted “washers.” Mr. DeLaCruz has had to do a good deal of studying of machinery and chemicals and salesmanship technique, too, in order to make the letters read as the writer intended them to. It takes about 15 minutes to translate a page and anywhere from 35 cents to $3 for 100 words. Some firms are employing secretaries who know foreign languages but that isn't the reason for the slump in his business, Mr. DeLaCruz believes. He thinks that when business falls off, the firms don’t write as many letters as formerly— which, in his opinion, is just the opposite of what they should do.
2 » ”
A LONDON GROUP, the Comtee of National Expenditure, 1ts British war factories to work S% hours a dav, seven days a week. But it opposes any plan for workers to work more than six days a week, declaring that when they stuck to their benches seven days a week during the critical days after the Dunkirk disaster, production actually declined.
»
\d = 2 UNIVERSITIES are putting more money into common stocks than they used to, according to a survey of 120 colleges and universities by the American Council on Education Studies. These universities had $1,263,$53,000 in endowments, 24 per cent of which was invested in common stocks. Practically all cut down on their holdings of ‘bonds and mortgages, but increased their investments in real
estate.
= = #
. ODDS AND ENDS: United Wall Paper Factories put out its annual feport bound in—as you might expect — wall paper. a red rose ttern. Canada is expected to y 80 per cent of her cotton from Brazil, only 15 per cent from U. S. use of price differences. . . . BR — r men weren't surprised by Chile s move to put a tax on export gopper of about 12 cents a pound. Prices of Chile's two big exports— gopper and nitrate—were very high fh World War I but haven't gone up so much this time and Chile is Bunting more revenue—thus the tax. Indianapolis residents received $18.016 in unemployment benefit checks during July, $676 to rural
gesidents of Marion County and M
$123 to Beech Grove.
Offers Oil Wells
They are translators. Because so few Indianapolis concerns have salesmen rep- A resenting them in foreign countries, most of the selling is|4 And as Americans are not particularly noted as linguists, the translators have built up a Am
$12.10 HOG TOP IS 4-YEAR HIGH
Here as 6500 Porkers Are Received.
HOG PRICE RANGE
Top Aug. 20 ....c.evestancense. $11.80 Aug. 22 .iceerrarnncenenes 1200 Rup. 23 iors 11.90 Aug. 23 (cceeed 12.00 Aug. 26 ...eviruriaceseees 11.90
Receipts 5,500 6.500 1,599 8.000 8,000
sssssesncee
it costs| Geod
To Government
FRANKLIN, Pa, Aug. 28 (U. P)). «Claiming the Government-imposed price ceiling on Pennsylvania grade grude oil made operations unprofitable, George K. Anderson, veteran ©il operator, today offered te turn over his 700 acres of leases and 125 ucing wells for rent-free Govent operation. * Mr. Anderson's offer was confined in a telegram to Leon Henderson, Price Control Administrator, whose edict pegged the Pennsyivapia grade crude price at a top of $275 a barrel. He said he had received no reply immediately.
YES EXAMINED SUES HITE
AON:
A WEST MARKET SL
6.000 6,500 Hogs weighing less than 270 pounds sold 5 to 10 cents higher at the Indianapolis Stockyards today than yesterday, the Agriculture Marketing Service reported. Heavier butchers were up 15 to 20 cents,
Bug. 27 «ois 12.00 Aung. 28 (...
es catsernrnes
and the top rose to $12.50 on a few |g
loads of the best lightweight hogs. This was the highest since August, 1937. Sows were mostly 15 to 25 cents
higher. The supply of fed cattle today was limited mostly to odd lots of club calves, which sold gen- | & erally steady. Cows were little changed and bulls steady. There was a weak undertone to spring lambs and sheep were unchanged.
140 pounds 160 pounds 180 pounds ... 200 pounds 220 240 270 300 330 =
160- 1200 pounds Packing Sows Good and Choice—
Wor oranon
Siti 10 Baie 1 DNUN FDU ND DID NRDDDHOD Pl fk fh ph ot fh fo pt far dr yak 7 SFU bao Vat fu oo LN3ES=S
SDD NN NCOOOO
Pa NS 34 ou
pounds
pounds .. pounds .
HDD Sor
Pp ph pk pt pt pt on
& 835 OS OOO rai
® wo wos
=
N 250- 500 pounds Slaughetr Pigs Medium and Good— - 120 pounds
CATTLE Slaughter Cattle & Vealers (Receipts, 700)
Chot 750- 900 pounds 900-1100 Sounds 1100-1300 pounds 1300-1500 Pas
Good— 750- 900 pounds 900-1100 pounds 1100-1300 pounds a aoe pounds
Noe Too pounds 1100-1300 pounds Co 100 pounds 750- 1100 ) pounds
Steers. Heifers
Cholce— 500- 750 pounds Good— 500- 750 pounds
ceenattaneaen 513.00
crests nanen,
grater wregeaed
. Dodd ld od 3 583 GUNS ova
- a4 ABO OOOO mtd
“eet tassnnnte sssresesnenes tesesssessen
F 833 FILA 27S!
vernarseranss [email protected] . [email protected]
[email protected] [email protected]
Cholce— 750- 900 pounds
Good— 750- oe pounds Mediu! 500- 800 pounds .. Common— 500- 900 po
Terese senane,
“tt ren concen
Prices Rise 5 to 20 Cents :
Armstrong Crk. 28% Asso Dry Gds Asso Inv Atchison Line Atl a
7.00@ 9.00] B 1.000 8.75|B
ty
THE INDIANAPOLIS TIMES
NEW YORK STOCKS
By UNITED PRESS
Atl Atla
Boei
Bon
yer
Calu
Ca Celan
Coca-
Com
Cont Cont Cont Cont Cont
Corn Coty Coty Cran
Cub-
Bohn Al
Abbott Lab Exp
High Low a
‘ 53% Siva
Safe Razor
Seatin Ship Smelt Stores
C
S
Aust Nich pr A 19 Aviation Corp..
Br
Ben Ind Loan Ben Ind L pf.. Beth Steel
ng Air & Ami
Borded ; Borg- -Warner .. Boston & Me .. Bdgpt Brass Briggs Mfg .... Bristol-My Bklyn-M Bruns-Balke udd Budd
T Mfg
s pf
met &
Canada Dry . gan Pacific ...
C&O Caterpillar T
nese Celanese pr pf.121 gg 8%
Cola
Conate P-P . Col & S
Gas
B
Wheel Burlington M.
5 -a Build
. 26% o 21% 72
% 3% —B—
Bald Loco ct .. 15% Balt & Ohio .. Balt & O pf Ya Barber 2 alt. 10%4 Barker 333% Barnsdall
3a
« 39 . 153% 54 . YO sss 19% Br. 29% «vv 45 Leases 204% 1934 234 . 1034 19% we 8% . 20 43g
sec
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H. 6% . 16 oi .. 11% : fe %
2 pi.. 1% Col Broadcast A 131k Colum ‘4 Col Fictures pf. Col Carbon ..... Com Inv Tr ... Credit . Com Solvents...
34 2814 80 31% . 24Y,
P Comwlth Edison. 2534 Cong-Nairn .... Cons Aircraft...
183%; 397% . 121%
Cons Cig pr pf. 95 Cons Edison ... So
17%
Cons Coal pf ...
Bak A ...
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. 7 Cub-Am Sug pf 105 Curt Pub pr pi, 25% Curtiss-Wr .. 9's Curtiss-Wr A.. Cutler-Ham
oh wes 19%
Deere & CoO ....
751 Dome Mines ...
Beef— Good ... Sa Sood
tesecsscststesntn
Good and choice . Soman and medium ........
Feeder and Stocker Cattle (Receipts, 600) Steers
cessensasess $10.25 “asst 10.00
9.50 9.50
Cholce— 500- 00 pounds 200-1050 pounds
11.28 11.00
10.50 10.50 8.00@ 9.50 1.50@ 0.00
cesses sssccnen
Pesstenssseen
Calves (steers) ood and choice— Lunds dOWR ceiivenennn 500 pounds down .. Calves (heifers) Good and cholce— 500 pounds dOWD ......eveees [email protected]| Ge
Medium 500 pounds down [email protected]
SHEEP, LAMBS (Receipts, 2300)
Lambs (spring) Good and choice good
scesssanae
tessssnsnrens
Medium and
Good and choice Common and medium ..
CHICAGO LIVESTOCK |:
Hogs—Receipts, 10,000; early market fairly active, mostly 10 cents higher on all weights, but later trade slow with most advance lost; early top, $12.15; late ractical top, $12; g° and choice 18040 1bs., [email protected]; 240-270 Ibs, @11.95; 270-300 Ibs. $11. [email protected]; sows steady to 10 cents higher: good 350 50-500-1b. Ys. [email protected]; to X Sheep—Receipts, 2000; late yesterday; spring lambs ¢ osed generally Sleans, natives, 5@10 cents higher; choice Westerns and natives, trade—Spring lambs slow; early sales steady to strong, hing higher on best natives; few sma Ehot native springers, ML wad close! 90-1b. Colorados, iz. . one fed yearlings, $9.50 top sheep, $5.25; 300; mestee 25
bulk native ewes, Ca eipts, 4 de eers, we aeice kings or
; calves, dium to average cents lower; strictly weak. but under 10@15 under week's er Ame, choice light a and yearlings holding up; killing quality much less desirable; mainly medium to good grade selli with sizeable sprink most choice offer
Ss mo D Jake vu at oer 811.5 311.3 heifers § 3 25 cents under week’ time; be ni
bulls weak at $8.25 down cents higher at $13@14; very few = cattle here,
on Everything Diamonds, Watches, Musical Instruments, Cameras, Clothing, Shotguns, Ete.
JEWELRY CO, Ine.
lighter weights up|S
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1 112 112 Ps 28's
at Ferro Enamel’
Firestone T ...
127 40% . 22 Ind . « 5104
Thtre Time e bout’ 108%
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DOW-JONES STOCK AVERAGES
80 INDUSTRIALS Yesterday ...cc.coccecaecee. 127.08 Week ARO ...cocevcccnsecees 125.99 Month ARO ...ccocenceniseees 128.79 teiaasieness. 128.87 High (1941), 133.59; Low, 115.30. High (1940), 152.80; Low, 111.84. 20 RAILROADS Yesterday ........cc00eeeee. 3038 Week Ago tiettiessrnateitees 30.21 Month AZO ....ccvveansncaces 30.61 Year Ago ...... 21.04 High (1941), 30.88; Low, 26.54. High (1549), 32.67; Low, 22.14. 15 UTILITIES eereassecsscsnaass 18.37
Perse seenanan
Yesterday
Month Ago ....v.ovcevvnoee Year Ago High (1941), High (1940),
20.65; 28.45;
Net Close Change 23 24Y,
- oy a
Liq Carb Lockhd Aircraft 28% Loew’s 37% fone Star ‘Com 43 g Bell A .. 3% Toriiang pf ...158Y; Lou & Nash .. 68% 685% a. 30 14%; 1's 4g 8's
16%
[+1+: +1414:
i
Mack Tr Madison Sq G. Maracaibo Ex . Marine Mid Mkt St Ry Marshall Fld Martin (Glenn) 21% Martin Parry . 7s Masonite Corp. 247 May, DS 54!> aytag McCall ii: 3 McKess & b. McGraw El ... Mead Corp .... Md Cp pf 8 ww T0 Melville Sh ... 31!2 Mengel 5 pf ... 272 Merch & Min . 23% Mesta Mach .. 323% Miami Cop ... 73% Mident Pet ... Midind Stl pf . Minn Hny ..... Mo-K Tex pf . Mont Ward . or & ES§ .... Motor Prod .... Motor Whi .... Mullins Mfg B.. Mullins pf Murphy G O ... Murray ceseeese
Nash-Kelv ..... Nat Acme Nat Auto Fibres Nat Auto Fib pf Nat Aviation ... Nat Biscuit Nat Cyl Gas .. Nat Dairy Nat Dept St ... Distillers . Enamel ... Gypsum ... t Lead
io.
No Amn Avn .. No Pacific ..... Northwest-Airl's 10% wl. Ohio Oil Oliver Farm Eq. Omnibus
9 20%
Otis Steel Owens Ill Glass. Pac Am Fish Pac Coast 2 Pac G El Pacific Mills 3 Pac Tin Cons.. Packard Pan Am firwes Panhandle .. Paramt Piet . Para Pic 2 pf. Park Utah .... Pathe Film . Patino Mines .
pf
Pepsi- Cola Pere Mat pf .. Pere Mat pr bt Pet Corp Am Phelps Dodge
0 Pitts Stl 5 pf 361% Postal Tel pf.. 113% Procter & 91% rv
Pure Oil
-or 3% Rehalls mie Co 1244 Reo Mot vite ... 15% Republic Stl ... 20% Revere Cop lq Revere 5ia pf.. | 73% Reyn Met 145% Reyn Met cu cv 95 Revn SpEne «.¥® . 322 Riontield on a Ritter Dent ... Ruberoid ...... 182 Rutland pf ....
I+:
I+:
Safeway Safeway 5 St Jos Lea St L So W Savage Arms .. 1 Scheniey Dist . Scott Pap Sears Roebuck. Sharon Stl pf.. 6 Sharp & D ...
+ | +++
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Ya|cent gained 234,
Hs Week ago Teste BRIRIRYIR RLS % Month ago tree cess vsceenece
211041 low (Feb. 17) veveveeens
FETE “~3
Net Low Close Chenge 481 884 + 9-1 +1-16 3% gta
High 48! Ht nf. 23% 5
Un Carbon .... United Corp United Op United Drug .. Un El Coal... 4% United Fruit .. 71 Un Gas I ge 3
+++ p09 ae Noeaa
[++]:
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2 330 Walk, Hir-G&W w a
8's 302 Walworth 5 5% Va
53
Va
Warner Bros oo
18 971% W Pa P pf 115% West Auto Sup. 28 28 West Union ‘ x weit Hl El . 92 West 1 pt. . 128° Wheel eel ... 20% White Mot weve 1615 White Rock ... 1% White Sew M . 41; Willys Overlnd.. 2 Willys Overld of 4% Wilson & Co .. 6 Woolworth ..... 293; Wrigley 68 wie Ws Yale & T ...... 20% Yellow Tr ..... 15 Young S&W ... 93% Young Sheet ... 383%
ni
20% 68
20% 15 9% 38%
20% 15 9% 383%
Zonite 2 2% +
| STOCKS MOVE IN A NARROW RANGE
NEW YORK, Aug. 28 (U. P.)—
a | The stock market moved irregularly
in a narrow range in the early afternoon dealings today with volume light. A few special issues moved over a wide arc. Pittsburgh Coal preferred rose 3 points while its prior preferred was up 22 and the 5 per Foster Wheeler preferred was up 3 at 127. A few issues which made new highs yesterday moved up slightly to new tops. These included Schenley, Boeing and Continental Insurance. International Paper | fo equaled its high. Traders were cautious about placing commitments in view of the Labor Day holiday ahead. Business news continued favorable in most instances, although car loadings failed to rise in line with expectations. Steel company profits for the first half of this year rose only 1 per cent above the last half of 1940 despite a 9 per cent rise in production, the American Iron & Steel Institute reported.
S0Y BEAN BUYERS ARE STILL BULLISH
CHICAGO, Aug. 28 (U. P.) —Bull-
» ish enthusiasm continued unabated
in the soy bean market on the
1, {Chicago Board of Trade today and
all deliveries moved to new seasonal tops and the best level since 1937. At the end of the first hour soy beans were 1 to 1% cents a bushel higher with October at $1.57%. Wheat was unchanged to up ec; September $1.14; corn unchanged to kc higher; oats up 3% to 3c, and rye %& to %c higher. Sentiment in the soy bean mar-
‘5, (ket was influenced by damage re-
ports to the cotton crop, which apparently will result in increased demand for soy bean oil, and distinct scarcity of old crop soy beans. Prices rose more than 2 cents a bushel before encountering resist-
ance and a reaction. 2
C. OF C. ISSUES TWO NEW DIRECTORIES
The Indianapolis Chamber of Commerce has issued two new directories, one dealing with import and export trade and the other listing Indianapolis business firms. The foreign trade directory lists 120 manufacturers, wholesalers and commission houses interested in export business, local importers, banks,
+ | railroads, cable and telegraph com-
panies, express agencies, freight forwarders, trucking companies and air lines. The other directory is a revised edition of the Indianapolis industrial directory, listing 729 firms here, an increase over the previots directory.
DAILY PRICE INDEX
NEW YORK, Aug. 28 (U. P.).— Dun & Bradstreet’s daily weighted
2 |price index of 30 basic commodities
compiled for United Press (1930-32 average equals 100): Yesterday ceecceccescconcsees 144.54 143.17 140.74 113.73 144.54 123.03
Year Se err errr Ree RRN 1941 high (Aug. 27) eeevesee
FOOD PRICES
CHICAGO, Aug. 28 (U. P.).—Apples—new Michigan, bu., 65c@#$1.25. Tomatoes—Michigan, 12-qt. baskets, 40@75¢c. Spinach— ashington, crates, [email protected]. flower—Colorado, crates, a rots—California, crates, \ tuce—California, $3. 504.50. New Cro Sweet Potatoes — Tennessee, bu. [email protected]. Onions (50-1b. sacks)—Tilinols, Hae.” T5c@$1; Minnesota, yellows, 90c,; daho whites, $1.35; Idaho Sweet Spanish,
OTHER LIVESTOCK
FT. WAYNE, ANS. 28 3 re 10 cents higher 200 lbs. $1 80: 40 1bs.. $11.65. 240 1b 80 lbs, $11. 20; 280- 300 1bs.. BS 00 1b
e 100-130 1bs.. $10.50; roughs. $9.50: stags, $8.25. SGnives. $13.50. Lambs, $11.25. Yearlings. $7.5
WAGON AT to the close ot the Chicago market Indianapolis flour mills $d Srey d 99¢ per bushel Gauss on el "meriis), per bushel shelled new No. 2 yellow corn: No. 2 white shelled corn i] No. 2 white oats, 36c; No. 2 red oats, ©.
Op today elevators pai red. wheat (other
We Make F.
120 E. Market St.
THE UNION TRUST COMPANY
Member Federal Deposit Insurance Corporation
Here's Financial Help!
Here, available to homebuyers and home-builders, is a complete mortgage loan service that anticipates prac--tically every requirement. If you aspire to the privilege of home - ownership and the besefits it bestows, call and
talk over your iinancing needs with a member of our staff, who will give you all necessary information,
H. A. Loans
Branch, 1225 Kentucky Ave.
STEEL PROFITS UP 1 PER GENT
Production Rose 9 Per Cent First Half of Year, Institute Says.
NEW YORK, Aug. 28 (U. P.)— The steel industry's total net earnings increased only 1 per cent in the first half of this year despite a 9 per cent rise in production to near-capacity volume, the American Iron & Steel Institute reported today. The Institute's findings were based upon reports of 80 companies representing more than 90 per cent of the industry's steelmaking capacity. Total earnings in the six months ended June 30 were placed at $174,105,000 after all changes but before dividends, compared with nearly $172,000,000 in the final six months of last year. In the first half of 1940 earnings were $100,300,000. The industry operated at 98 per
"| cent of capacity in the first half of
this year contrasted with 92 per cent in the previous six months and 72 per cent a year earlier. Return on investment was 8.9 per cent against 9.3 per cent and 5.7 per cent, respectively. “Steel wages, taxes and raw materials costs have been substantially higher in 1941 than in the year before,” the Institute explained, “and there has been no offsetting advance in the average price of steel products as quoted in trade papers.”
LOCAL ISSUES
Nominal quotations furnished by local fois of of National Association ef Securities
Sto Bld. Ask Agents finance Co Ind com... 7% 0 Agents Finance Co Inc pfd... Belt Ba & Sik Yds com...... 65 Belt Stk Yds ofd. 6 Comtrar 184 Pow 7% pid. ren Circle Theater com eevee 28 Comwlth Loan Sp ofdiccec... 96 Hook Drug Co Cesayee Home T&T Ft Wayne 1 Ing Asso ch Co $5 Cc
‘ % Ind Hydro Elec 77% pfd Indpls P&L 5Y4% pid . Indpls P&L com . Indnls Water 5% pfd .. *Indpls Water Class A com. Lincoln Loan Co 5'%2% pd . ‘es Linc Nat Life Ins com.
n Pub Serv Co of Ind 6% pid. Pub Serv Co of Ind 7% pfd. So Ind G&L 4.8% Terre Haute Eled i% ofd. 3 Union Title CO COM eecesvesess 33 Van Camp Milk ay 67 Van Camp Milik com ....eeeee 11
Bonas Algers. Wins'w W RR 4%s ...100 American Loan 5s i 9
Citizens ‘Ina Jel Consol Fin - 99 Con a is r 8 42 a H T & T Mt Way 4s. .108
ome Home T&T Ft Wayne 8s 43....103 Ind Assoc Tel Co 3%s 70.....106 ndpl 3 na na )
48 69 ......10
B92 raven}
Trac Term Corp 5s *Ex-dividend
U. S. STATEMENT
WASHINGTON, Aug. 28 (U. P.).—Government expenses and receipts for the current fiscal year through Aug. 26, compared with a year ago: his Year Last Year ..$2,941,784,074.63 $1,420,863,407.54 762,471,360. 33 . 3 179, 312, jis .. 2,143,819,4 39 2,9 . 2,578,654, 319. 30 3 ola 060, is 2 1,826,530,899.25 781,603 Pub. Debt 50.446.355,010.46 a3; 1893,832, 896. ‘36 Gold Res. .22,715,222,296.47 20,835,008,374.75 Customs 66,458.454.80 44,907,923.85
INDIANAPOLIS CLEARING HOUSE Clearings . . Debits ...
Expenses Receipts
THURSDAY, AUG. 28, 1941
* On the Go
Roy B. White, new president of the Baltimore & Ohio Railroad, is a long - distance executive. When president of Western Union, he used to cover 30,000 miles a year. Now he has just finished a 6000-mile tour of the B. & O. lines, getting acquainted, and plans more trips. He began his career as a telegrapher at Dana, Ind.,, in 1902, still uses a Morse key now and then for talking with various departments.
PRIORITIES STATUS HERE TERMED ‘BAD’
Times Special ; WASHINGTON, Aug. 28.—“Washington authorities say that Indianapolis is one of the bad spots of the
country so far as priorities are concerned,” Rep. Louis Ludlow (D. Ind.) declared today. He said an Office of Production Management representative will go to Indianapolis next Tuesday or Wednesday to assist in establishment of a priorities office there. Either E. Edward Scriven, director of the priorities compliance and field service of OPM here, or Warren Bailey, head of the regional priorities office of OPM at Chicago, will make the Indianapolis trip, the Congressman said. “Every effort will be made to get the new office there functioning as soon as possible,” Rep. Ludlow said. “Whoever is chosen as manager will come to Washington for a two-
1, | weeks’ training course before taking
over the job.”
FALL MARKET WEEK OPENS TOMORROW
The first annual Fall Market Week will be held here, beginning tomorrow and ending Sept. 5.. It is sponsored by the wholesale trade committee of the Indianapolis Chamber of Commerce. Twenty - seven wholesale firms here are participating in the distribution of folders listing the names of the firms, containing maps and information about the State Fair and announcing special merchandising events which will prevail throughout the week.
LOCAL PRODUCE
5 1bs. and
Heavy breed colored hens, heavy breed
over, full feathered, 16c; hens, under 5 1hs., full feathered, l4c; No 2 ; Leghorn hens, 13c; . Leghorn hens, 10c; springers, Barred and White Rock, 16c; No. ers, Barred and White Rock, 13c: springers, 2 lbs. and vore, 15c; springers., 2 lbs. and over, 1l5c; horn springers, 2 lbs. and over,
cocks, 10c. Eggs—Current receipts 54 lbs. and up, 1 3% @38¢; oy 2, 36@
llc;
36v,c; butterfat
WILL LABOR DAY HELP STOCKS?
Market Has Become Active 11 Out of 14 Times But What of Prices?
By ELMER C. WALZER United Press Financial Editor NEW YORK, Aug. 28—Wall Street almost unanimously looks forward to greater activity in the stock market after Labor Day and most of the trading element anticipates higher prices. On this basis, the conservative experts point out that if the mare ket does not improve on larger vole ume next week there may be considerable disappointed selling and & substantial decline may result. None is sure, however, about the prospects for any heavy selling since stocks are said to be in strong hands and not easily dislodged even by a. recession. In the past 14 years, the market has turned active after Labor Day in 11 and quiet in three. Of those 14, the Sept. 30 average has shown gains over Aug. 31 in 5 instances, declines in 8 and was practically un changed in one. Last year there was an increase in volume until sales totaled 1,» 247,000 shares on Sept. 5, three days after the Labor Day holiday. Then the list lapsed into dullness with turnover only 293,000 shares on Sept. 16. The Dow-Jones industrial average was at 129.42 on Aug. 31 and 132.32 on Sept. 30. In 1939, the market had terrifie activity after Labor Day. That was the day after Britain and France declared war on Germany. Next day when the market ree opened, sales were just under six million shares. Prices soared. The day before Labor Day, the induse trial average stood at 138.09. BY Sept. 12, this figure had been lifted to 155.92, the year’s high. . In 1937, the market was in a dee cline late in the year. Sales picked up in volume after Labor Day and prices dropped sharply. The ine dustrial average fell down from 177.41 on Aug. 30 to 154.57 on Sept, 30. Another interesting year—1929— saw a very active decline. The industrial average made its record high on Sept. 3, 1929, at 381.17. That was the day after Labor Day, Next day it dipped to 379.61 and then it steadily receded until it stood at-343.45 at the end of the month. Trading in September, 1929, included four sessions of more than 5,000,000 shares and 15 of more than 4,000,0000 shares.
DESVERNINE LEAVES CRUCIBLE STEEL CO.
NEW YORK, Aug. 28 (U. P.).—P. B. Hufnagel today resumed the dual post of president and chairman of the Crucible Steel Co. of America following the resignation of R. E. Desvernine as president. Mr. Hufnagel had held the two top ranks prior to the election of Mr. Desvernine as president three and a half years ago. Mr. Desvernine made no come ment regarding his resignation or his future plans. Mr. Hufnagel like=
.|wise refused to amplify his statee
ment which announced Mr. Desvere nine’s resignation. Mr. Desvernine was a member of the law firm of Miller, Owen, Otis & Bailly, counsel to the company, when he was selceted for the Cruci=ble presidency. Mr. Hufnagel was elected president in April, 1926, and
25 cen Butt ars — No No. c; 2. 37%. (Country pickup Dis quoted by the
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