Indianapolis Times, Indianapolis, Marion County, 19 September 1941 — Page 39

re 34 states had led

* Net Earnings of Indiana Banks Were Lower 3%: Last Year Because of Increased Expenses|zi

By ROGER BUDROW=—

TIANA BANKS DIDN'T DO SO WELL last year, tter of profits, as they have done. higher net earnings than banks in Indiana. The|aAm

Banks in 36am

Inidana.

very $100 on deposit last year, Indiana banks

earned, on an average, 80 cents. The year before it was 8 cents and had gone as high as $1. 12 in 1937, when busi-

‘Why The Looaier Banker attributes the decline 0’ ‘increased taxes, bigger salaries and lower income from investments.

The banks|

took in more ~~ money than in ~ previous years on service

charges andj’

they made more loans so they collected more interest although t h e rates weren't ehariged: Their total operating ingome was highest since 1937 but it wasn’t. great enough to offset the increased expenses. The: picture may be brighter this year. And it may not. The first Ralf of this year was good for most banks which made quite a few loans but business has slowed down ¢e the Federal Reserve restricjons on credits. : The Hoosier ‘Banker survey also i that” Indiana banks, both tate and national, have been putate more money into U. S. Govern-

3 Roger 1 Budrow

ment: “securifies. but have been sell-|b

= their ‘holdings of . corporation during the past year. 2 ” #

BUSINESS MEN who have occasion to travel by air know how hard it is to get reservations at some times of day, due to the big increase in air travel. But if you go out to the Airport, you'll often see a plane take off with an empty seat

to help prevent these “no as the industry calls them, etting the lines’ ticket agent gs far ‘in advance as possible reservation is to be cancelled. It not. only costs the line money to go withoit a passenger but it also Keeps someone else waiting in case oa #00 show.” ¥, te = #2 = ; ‘SOLDIERS, on an average, eat ‘ 420 eggs a year while civilians eat only 314, according to Harry Truax of the Indiana Farm - Bureau's poultry and feed department, ~ And soldiers eat 114 pounds of chicken four times :a "month, whereas the ordinary public has only a third that amount. That is: why Mr. Truax believes the poultry business will make good . money this year. But he warns against reckless over-expansion dest it prove too much of -a good

er so : American ‘Airlines is asking busi-

Ere

#2 # 8 : ODDS AND ENDS: Commodity Credit ‘Corp. will sell cotton to ex“ports in the U. S. at 13% cents a pound, : N. Y. Cotton Exchange says. . ¢ John S. Fleek, partner of Hayders: Miller & Co., Cleveland inyestment bankers, has been nominated .for* president of Investment Bankers, Association. of America. Back in World War I Mr. Fleek was at the ers training camp here at Ft-Harrison: and became munitions cers of the 158th Field Artillery rigade. . . . Du Pont and Philaelphia Electric Co. are working together to . get factory ‘machinery d lighter, brighter colors so the-operators’ eye fatigue is lessened. Best colors tried in two-year test

¥ r

did bank profits go down? -

BANK RESERVES AT 13 BILLION

Treasury Spending Reduces U. S. Deposits With Federal Reserve. WASHINGTON, Sept. 19 (U. P).

member banks in the week ended Sept. 17 rose $140,000,000 to a total of $5,250,000,000, the system’s weekly statistics disclosed today. Actual reserves of member banks were up $170,000,000 on the week at $13,328,000,000.

Treasury expenditures on various accounts, including the redemption of - $100,000,000 of discount bills, were responsible for a decline of $122,000,000 to. $334,000,000 in TreasVY Seposite with Federal Reserve

in Federal Reserve “float” to $112,000,000. Other: sources contributing to the gain in reserves included monetary gold stock, up $8,000,000 to another new peak, and Treasury currency up $3,000,000 to $3,188,000,000. These gains were offset in part by a further rise of $10,000,000 to $10,046,000,000 in currency in circulation; an increase of $11,000,000 to $2,408,000,000 in Treas-

$2,129,000,000 in non-member deposits and other Federal Reserve accounts. The ratio of total reserves to deposit and Federal Reserve liabilities: combined was 90.8 per cent compared with 91.1 in the previous week and 89.5 a year ago. Commercial, industrial and agri-|c cultural loans in. New York City continued their upward climb to the highest level in more than 10 years, advancing $7,000,000 to $2,435,000,000; Total loans to brokers and dealers in securities for the system were $336,000,000, a decline of $109,000,000.

KOPPERS TO BULID $3,000,000 PLANT

PITTSBURGH, Sept. 19 (U. P.) — The Koppers Go. announced today

it. has been awarded a $3,000,000 contract by the Brazilian National g ih Ba

Steel Co. of Volta Redonda, near

a complete by-product coke plant. The plant is to be built in con-

steel plant.

NEW YORK, Sept. 19 (U. P.).— Dun & Bradstreet’'s daily weighted price index of 30 basic commodities compiled for United Press (1930-32 average equals 100): Yesterday Week ago asseeescssssssnsses 147.60

Year a $9 0000000800000 0000 0 115.84

are “horizon gray” and "Spot-light uff. ”

[1941 nigh (Sept. 9) ceccssoeee 147.91 1041 low (Feb. IT) ...eesc... 123.03

—EZXcess reserves of Federal Reserve Vi

Income tax payments largely ac-|Bath counted for a $64,000,000 expansion H

ury cash, and a rise of $3,000,000 to|3

aQana 9999900 <

Rio De Janeiro,~for construction of § : ; Co ‘DAILY PRICE INDEX

Sessssssecasesenes 146.73 C Month 2p seccsnsccccussscne 143.37 ca

-High Low . Last — Abbott Lab coo 88% 55% - S54 5% 55 \ir Redue ... Lllas a 427°

3% 4 “5 Ad i a 8%

A Lf i nn. i

ay Alaska Juneau. - 3 sh Co

\lleg os Pid’ S A Eada lied ‘Mills Allied Sto!

21% 28 3% % “5g k ir 21% 8 4 13 13% i 12% 12% . 5% 5%

m RI Am. Saf yazor. 5% Am hie Build. 37% Am Smelt RT

scose Ys \rmour Dei flor 110% Armour Ili Armr I pr pf Ni ATmSITOnR OF. A noid Co 2% Artloo: 5% ASSO Dry Gds ". So 27%2 . 25%

A 1 t & I. 34% b 49% Atl Refining 24% Austin Nich was

27a Aust Nich pr A Aviation Corp..

PB 118 ve it re 69

8% fe

4 4 4 £ £ 4

Ba 1e & Ohta. 11 a 0... Balt & Oph... Bl &. . Bangor&Ar pf . Barber Asphalt. arker Br pf..: rnsdall ..%. Ir Wks... Beatrice Cr ... 2

Beth Steel ‘69a Beth Steel 7 of 122% Diselow San 91%

Cal Packi oe Callshan Zine: “3 Calume a Ganiads Dry .. 17 San acifie : :

23 7 8

es = ; bai nit Certn-td 6 3308 hain Belt ... 17% hamp h Faper ' 32

hes i

ACH Ry 5 pf h Mail Order Pneu T ..

nection with a blast furnace and Col 8 Aik

z So I pf . 37 Broadcse A 153 1 Broadcst B 13 a u. Gas 2% Col Gas pf go ve 691% Col Gas pf ... 58% Com Sede cess 2415 Com Inv i

Cans Coal pf.. 25 Gonsum. Pw pf. 101 er

= “* FooTBALLS ne

SHOULDER PADS

COMPLETE

_ 5-Pc. FOOTBALL OUTFIT

" FOOTBALL—PANTS—JERSEY s ““HELMET—SHOULDER PADS *" (Deluze 5-Pc. Football Outfits, $4)

HELMETS ¢ « « Well padded, in sizes small, * medium and large. (Others up to $3)iieiene

struction. Well padded. (Others up to 2.98. 2:

3 N

x >

lined, with outside

« 3 « Sturdy fibre con-

PARENTS: Protect your | boys from injury when they play. These professionally styled suits guard them in vital places. They're safe,

BLOCK’S

Toyland—Annex

senses Tees

Conta, a | Bak 5 4 Can se. Ins o ses 2% Mo! 3% Oil” Del. «23%, Steel. 13% SD

Bak . 3 5 Tn

348,

Curtiss we” A. 21% De Davison Chem . 10 9% & 2

7 29%

ie T1518" iL

Du Buaues. Lp

Bast AfP Lines. 321, East Kodak ...143% ‘Eaton Mfg .... 32% Elec Auto-L Elec t . El B&L, $e 4 os «3 El P& $y bt at... Sa

pedi 5s Eng PB opi. sala , Equit Bldg .... "Y . % Erie Fain Biel it csseee

zie 9 Wien e. pf A wi. : on

{restone “ale : None of lft : N Strs ; sbee Sti". ood Mach ... 2

1 eeest-Suistur. 3

Seses hr

Hoe pid : Cire: real Sia, id

“1% 1% 15-16 15-16 23 od

23%

LIL:

[4 LLL 1

LELIHHI4 +R +

FULT: 411

Net Change + %

15 | Week ago ...

essay

—1-16 %

soqe

7 | Yesterday

4 3 Year ago

| Month ag0 ....cccooveveseses

* Goth Hos pf ...

By. UNITED PRESS

30 INDUSTRIALS Sieecsesisensanes 128.7% descsennaces 12118 Month age sssessesencssacse 125.84 ‘Year ago ........ocenciesse. 13161 High, 1941, 183.50; low, 115.30. High, 1940, 152.80; low, 111.84. 20 RAILROADS

Yesterday

—oas|S +0.2%

29.40 20.22 30.15 28.27

Week ago ... ssesessesuinesars Month 880 ...iceceosnsseene sesso eemanmere High, 1941, 30.88; low, 26.54. High, 1940, 32.67; low, 22.14. : 15 UTILITIES. Yesterday ...........oscvivn Week BLO cccoscosvssssonsens

18.92 18.64 18.26 Year 880 ......iixse0neanrss SOB High, 1941, 20.65; low, 16.82. : High, 1940, 26.45; low, 18.08.

9% — 38Ys —

how 47%

High 1% raham-Paige , 13-16 Grani te Cc 10

1000

Hi REINA

oa aa

a . . i»

FFE

3 od

a PINS SS

ans

FELLER EE: Drs +h Si mer wr be ere Teens

+1: 1+:

+1:

. . . a

l —. EEE

i L1H BEE NE

FC i et A

. .

BELA

* i FoR ges PEE

LHF 22d

SRE

» 2 »

tid rt E

Lod » I Sa

dps

Si REE

ER Famers | a

"ee. o oe .

. . .

L 1 a a»

+11 i Soo ee BL

mn A No Pacific N

Pac . : Dacitie Mills . c¢ Tin

30a + Ya 163%, — 24% — % 26 3 14%, © 113% 17%

Ore: 3t North pf . it West Sug. . sreyhoutid A rey Irum; an

+ = | 20

QO000DN00G ge

ulf Mi h.. 3% 3) M & Oh Bt. 18% —— Ham Watch ees 13% 13 M 2% 2% % 8% 13% “13% 111

161 48Y, %

fia ah 3? 1% 718

SUH 4 CS a

- CRs

dees

Hupp Motor es 1-16 ib

af [11 Central ... 9 [11 Cent pf .... 20% Indian Ref .... ndpls Pw & Lt 18% Rand 107 - Inspiration Son 12% ntercon Rub an 3

erlake . Harvester Nickel gh 3 U CKe. > os. P&P . 19%

20% 8 18% 107 12

8% 53% »

8% — 54 a Marine . Minin goth 20% — a », me

8 Ya

2% = fh fT

33% Fr 7

ERR

A] 13% 98

wea 14

¥ & pe : 33% ones Jones & Leh pf. ih

B. 13 ge ks bP Gem... 38%,

: \4

0a 17 al pf.. 13% av Co D oh

eas

Tow 2s, = 8% .

14 10% 2 8%

Kaufmann DS

Kres Kroger G & B. wi

lede G

Bg > Cem, bits Long Bell A.. i ona] i ae 17 0 Lou & Nash... 66 sen Meme 31% 28% 33% 4%

Mack Tr ...... Macy R H ...

anati S

arine Mi

oe ce

Fid.. artin (Glenn) 31% artin VY... 8

cnt P Vat S50 5 C. re 0. 3 &. Rob 14%

13% 11.16 $s +1-16 347 an —" % 2815 28 :

[yers & Br... 42 Ne

Nash ely esse

Nat Dai 81a Nat Dist llers. « 25% Nat Gypsum 6% Nat Gry Lf ceo 6

5a x Nat Mal & 81 C 21% - Lt.. 4 4

7 : orthwest-Airins 12 Northw Tel ... 38%

Owens 1ill Glass oa

Pac Am Fish . 1, Pac _Coas 5% Pac Const by pt. ia

184

abd ba an

-- BIT i oT DI CIC Ts

es a FRESHER

FULL LL

58 EF |

. CS

EE a mens Sh

= etter "5

+++]

J+ 14 T4E1

Sevan

S&S

Pure on Sesssas 3

Radio

Radio op Rayonier of” wis i

Bond Ropar 3 Co i Rem Rand 9%

cesissent a

FS | ++++]

BORER,

FEF

I++

ft Oro ° 0 * a . oe ie

[od »-

Met’ .2.. 18 Te Mou cv pt 94% 9414 yn %

SEE aS

a) 8 ° .

I+

EERE, =e

Ruberoid Rustless I & Bi. 13%

feway ....

Sa Eolews 5 pf.. nite mm St Jos I Lead 3434 iii

oes Be

SEE

DOW-JONES STOCK AVERAGES |

—055 +0.03| 5

BIE

So¥asgansten

FERRERS

.. .e.

“gaSEiitinal §

ft Li] RAW a

= 5 SF Swe SE sens seas was ES a=

PH Els EL:

on aa

aalis m8 Nae

[+11

ba 8

Tenn Soho wees 1 i Ha T a Pac-L 2: oo lexas & Pac .. % hird Av Ry . ompson . iv Bro.. 20%

rl tp oF

bs 2g ©

g ~ 5 oP 0s 5 WW g9 re FO 11+] -

—

[imken R ‘ransamerica .. rans i-Cont

3d 53 ed 23 3 13 13 mT 3 0d 3

| F1+

p. in Coach ...- S Union Carb ... nn Pn Pacite aves

thilt FE

+++: 1: ES

Fords

2OBupuBBBnhe, FR EEE

rnc os Soko gg

62 I 2151 i

Vn la : 3% 3%, D8 28% —_— Waldorf Sys ... 8% ve | waldon vs 8%

35 Walk HG&W pf of 5 Walworth A ete

niv L

HHL:

Yoqses Sales .. Vadsco _ p: . Victor Chem i Va-Caro 6

eee ose oe «oe

a =

5 BS

. .

oo pub

LH Eb FE

eee ser

Lk . Vhite Mot Vhite Sew M hite S M pt. Jilcox oa ilivs Sy Over pt. 4 Iva ver a . cd i

rhson = oolwort orthing on /right 5

rigley

FRESH

eh ot ih ih A A hh << < << ) ©

EFS

++I:

Yellow Tr .... 15 Young Sheet .. 38 Young Stl Dr. 14%

15% 3 14%

aan

ze Zenith Rad ...11 Zon ve 3% 2

1+1

Defense

Quiz (From the Treasury Department) Q—What is the Treasury's pur-

8 s|pose in putting Defense Savings 1, [Stamps on sale in retail stores a throughout the Nation? Soo. A—To make it as easy as ‘possible Mi yy for: Americans everywhere to buy] 5 these Stamps, which, ‘as everyone

knows, may be exchanged at many post offices and banks for Defense Savings Bonds, Q—Who directs the National

Ve f movement to sell Defense Savings

Stamps in retail stores? A—The Treasury's Retail Advisory Committee, of which ‘Benjamin H. Namm, of the National Retail Dry Goods Association, is chairman. Officers of 13 other great national retail organizations comprise the committee. Note—To buy Defense Bonds and

bank, or savings and loan ‘association; or write to the Treasurer of the "United States, W: n, D. C. Also Stamps are now on sale at most retail stores.

~ £1700 REFRIGERATOR WORKERS LOSE JoBS:

MANSFIELD, O, Sept. 19 (U. ager of the Westinghouse Electric day that 700 employees will be laid

off today because of a shortage of steel for electric refrigerators un-

|der priority rules. The entire third shift will be |most

abolished, he said. The layoff will be the first resulting from the dee fense program in Mansfield’s jargest plant which employs 5000 per sons. Mr. Van Derau said the plant 8 is trying to get Government orders to put the men back to work.

Montagu Norman

Stays With Bank | =

LONDON, Sept. 19 (U.P). — Montagu C. Norman,, governor of the Bank of England for 22 consecutive terms, disclosed today that

quested him to accept re-election to that post next April although he

of 70 years last Sept. 6. + At ‘the semi-annual meeting of | be the bank’s directorate, Mr. Norman

stand for re-election next April when his present term expires. His announcement was interpreted here as an acceptance of the board’s request. Mr. Norman also announced that J. M. Keynes, prominent British economist who recently visited the United States, will be nominated at the annual elections to succeed the late Lord Stamp as a director.

POWER MACHINE - OPERATORS NEEDED

WASHINGTON, Sept. ‘19 (U. P.). OPM ' Director. . Sidn

silk embargo.

he said, to qualify the

HF FN

Stamps, go to the nearest post office, |

P.)~C. L. Van Derau, works man- Je n Manufacturing Co. announced to-|ihan

1 directors of the institution had re- [ouehs, $1

passed the statutory retirement age|

disclosed, directors urged that he |r 5

= 47 ore, 3 iTTiosE 10 $4,267,076,043. be FEY

conference at Wilkes-Barre to dis- | cuss resemployment of 2000 workers|ted displaced

{Ei workers for jobs In the garment :

A Stockyards. x

Sept. 13 sseassscensessose 12.10 Sept. 15 cevesssecssseesese 12.15 Sept. 16 . aencsesessencenien 1185 eoesessss 12.00 seevceces 11.95 Sept. 19 sssssssssncasnsass 12.10

Most hogs sold 1 10 cents- higher than yesterday at the Indianapolis stockyards today, the ' Agriculture Marketing Service reported. Weights above 160 pounds made the dime advance while lighter weights did not change. . Today's top was $12.10 for. good to choice 200 to 210-pounders. An estimated 400 salable cattle were received, 500 calves, 8500 hogs and 1200 sheep.

HOGS Good and Choice—

POURS: ..cdcecnssnes Sle.2al1. 00 pounds ‘e.eeeeee 10:9 pounds’ - pounds .o.eveessesin pounds ... pounds .. 0 pounds . pounds ... pounds e...ee pounds ceresenesens

Medium— . 160- 220 pounds cedures _ Packing Sows Choice—

[email protected] [email protected]

Good and

330- 360 pounds ceccecee Good—

360- 400 pounds sesesccssese 400- 450 pounds .. sesapeenes 450--500 pounds ...... Medium 250- 500 pouUnds's covesnssscs Slaughter Pigs

Medium and Oood-= 90- 120 pounds ..

10.50@ [email protected] [email protected]

[email protected]

ssess Bees oe

[email protected] .. [email protected] . [email protected] [email protected] [email protected] 11 12.00 11.75 11.50

[email protected] [email protected]

8.00@ 9.2%

1100 uhds 1300-1300 pounds 1300-1500 pounds . Good--

00 pounds’ Hy

C150 5 bounds

edi 1100 pounds -1300 ) pounds Common. 750-1100 pounds

oe s0eses0voccne

ssss0ccesvers ses0c cesses

®s0svsvssvans

tol Steers. Heifers 500-754 750 pounds evsvsasesune 500 7 750 bounds ae - Heif

[email protected] [email protected]

sesvnccce

Choice— 750- 900 pOUNAS ..i.coceness wa. 2 200 DOUNAS seesvccccens 500- 200 pounds 80sec scese, Com mille 00 pounds ....e.co00000 Cows

[email protected] [email protected] [email protected]

500- 1.00@ 9.00

set stscscesssnnes

Biel (Yearlings excluded)

od 00000000000 000000000 000

‘ ar 8.250 9.25

8.50 - 9.00 8.00@ 8.50 9.50 °

*80c00000c0000000000000

jum Cutter and common. ........ Vealers Good and choi Sotmon and media

Feeder and Stocker Cattle - (Receipts, 500) Steers

*ecvcsseve

encovoee

Choice

500-800 pounds [email protected] 800-1050 d pounds

ssessssessess [email protected]

[email protected] [email protected]

[email protected] 1.50@ 9.00

S0seesssdnses

dOWD eeseceseses 11,00013.00

und Gown Pe © [email protected] wr es. alters). . Gogh dnd hoes sg Dounds : wn wiussesssnse 10. [email protected] 500 DOUNAS dOWR ....ssssvses + 8.60010.50 SHEEP, LAMBS (Receipts, 1200)

Lambs s (suing) ; Jo 11.50 oA 1% i

12.00

” 10.00 Ewes (shorn) 00d and cholce ............. 4.25 ommon and medi um .. cesssses 3.00 g taf

CHICAGO LIVESTOCK:

Ho Eo RacaIia, on all weights §80-27 0-10: welsh, few 270-800 1 $11 75; oe 10.25; to_$10.7 Cattie—Receipts To00: calves, 200; erally steady; beef cows and medium’ illin, Sa: rather slow but de nd an steers here;

Ss dan $11. sso TL8; 3) top 1: 0 Ths

lb. ar $9.40@

gengrade

able trade on meager supply of Shoice Jearlings ad eo ty 2

5; medium and od 310.5 50; these haying advagce last two days

at we

ra; stock cattle $10. 25 down late rday; few $12.25; ey good Westerns straight, yi 50; ewes, $4@5 classes Westerns f $e ew fat WAYNE, Sept. 19 (U. a ), 200 Tbs bs. DS

western JSarlings & [email protected] heep_Receipts, 2000: yeste 5 celts gloves yearlings Jieady; we doubles at slow around stea choice estern ewes, Sor Pare i ives, $5 to 10 cents i i J0-310

11.75; twos bringing dium and corn 1 to $8. opine In Tres Bhy Si fy Weis $12. Sen. ted gear odsy's $9.50 0: 4 native native spring lambs, pS roth nde choice OTHER LIVESTOCK ps» 340-360 Tha ; 280-300 1

Sbrinsers. 2 iy and 1% Tio: or 2 es r, 3 Lesho rR nah. 2 Tbs, and over, 1c:

ate receipts, §¢ bs. and up,

25 39@39%ec; No. 2, 3 5s bat, B30 No. 2, 33c. T%@ ue plekup prices quoted by the

US, STATEMENT

WASHINGTON, t. 19 P.).—Government expenses and receip To the curTent 2s Sseal ar ri Sept. 117, TOP

- 1.821.881.4300 Rov rods Det 3 2,684, 14.13 TH Cash. Bal. 2,385 Work : 1.801.307.3832

Gold Bi HE 38 20

4,869.53

hy 22 2 is 304.42 J jai 2

MADE BY HOGS,

Top Advances to $12. 10 as] 8000 ‘Porkers Arrive 1

+2 STOCKS DROP DUE TO

'unchanget to Yc off; and soybeans

11.26}

4000: generally steady; *

DE od Sows y 350 1bs., upward I

offering which after Pub ~Tuesd

- | American Loan

ir 069.53 |

G. C. Hay will be general agent of the new office’ the Chicago, Great Western Railway is opening in the Merchants Bank Building here Oct. 1. Mr. Hay was formerly .the road’s traffic agent at Cincinnati. : i

WAR AND STRIKES

. NEW YORK, Sept. 19 (U. P).—

situation and developments on: ‘the Russian war front. brought .precautionary selling into stocks today and. prices backed down fractions

to more than a point in quiet trade. ‘Mild selling came ‘into the: list here following news that a slump in the London stock ‘market had been: attributed to worry in England over German: progress in the Ukraine. In addition, many traders lightened positions “for the week-end and there was sonie selling traced to labor troubles here. LONDON, Sept. 19 (U. P.).— The Russian reverses. .in.. the Ukraine depressed the ’ London Stock Exchange today.” ‘Market values fell about 3,600,000 pounds (about $14,090,000). Steel shares were weak. Bethlehem, Crucible and U. S. Steel dropped about a point. . Motors met slightly better support, with Chrysler steadying on % loss to 58% and General Motors holding at 40%, off %. Air line shares weakened, American selling off 1% to 46% and Eastern dropping 1 point to 315%. Sante Fe led rails down fractionally with 7% point loss to 267%. Aircrafts also weakened, with Douglas off % to 76% and United down 7% to 39%. J. I. Case, recent strong spot, fell 2% points to 84% and fractional declines predominated elsewhere in the main list.

CORN, WHEAT AND SOYBEANS LOWER

CHICAGO, Sept. 19 (U. P)—In quiet dealings wheat futures drifted

lower on the Chicago Board of Trade today. At the end of the first hour, wheat was 1% to‘ cent a bushel lower with September at $1.18%. Corn was unchahged to off Y%c: oats unchanged to 3c lower; rye

were % to 1%ec higher. Scattered selling influenced by the easiness in 'cotton gave the wheat market a Yiactionally lower opening.

LOCAL ISSUES

Nominal quotations furnished by local unit of National Assbeiavion of Securities Deaiets Sa Stocks

agents Yinanes Co ‘Ind- com... Agents mane

m ho Serv Cc ui oi Hy e! +Thoy ls P&L 5% oe d..

COM seevseee 11° Bonills Algers. Wins'w y RR 4%s. --100 5s

American Loan 6s Cent Newspa ers 4%s 42-51..100 Cn 155. om Bldg Co Dus’ i 8% izens Ind = 1s 6 vanes +103 Common Fin 6s § gg Home T & T F

Co 4Yzs .1 Richmond Water Works 5s 57.100

Uneasiness aver the domestic labor}:

Year-io-Year Advance In Smallest in Several ‘Months.

NEW YORK, Sept. 10 (UB). —

The seasonal uptrend in reff trade

continued this week y showed the smallest *lo-yea advance in’ several months, Dun

3 Bradstreet, Inc., reported

Dollar volume of retail

pared with a year.to-year ji 2. 25 per ent in ‘thespy week. Rising prices were said to have accounted for an increased portion

Jof the gain over a year ago with

price levels averaging 10 per cent higher than last year in many ine stances. is “Unusual weather, installment credit restrictions, diminished fore ward buying were usually credited

". {with responsibility for the smaller

| rate of gain, ” the tradd’ authority said. ~ “Although few retailers described inventory shortages as a major adverse factor,- slow - deliveries in ready-to-wear and home: furnish ings were reported to have pered promotional, efforts. “The lagging sales pace had ale ready spurred advertising and pro= motional activity. ° Price -inducements in seasonal wear weré: said to overcome unfavorable -‘wéather conditions to a surprising degree.” "On a regional basis retail: trade showed. the following percentage gains over a: fear ago: § JEngland 10 to 20; East 8 to: 15; South 14 to 22; Middle West 15 to 18; ‘Southwest 12 to 25; Northwest 10 to 17; Pacific Coast 14 to 20. “Wholesale market activity,” y & Bradstreet said, “was more spotty than in weeks past. “Some. distributors reports a fure ther increase in repeat orders while others noted a lull in forward as well as current purchasing which was especially pronounced in lowers price lines. “Delivery was still being stressed but with the slackening in retail trade emphasizing heavy stocks tre gency was a less important cone sideration.”

WAGE-HOUR GROUP OPENS CONFERENCE

Thomas O'Malley, regional dia rector of the Wage-Hour Division, was in Indianapolis today, meeting with senior inspectors in charge of the division’s branch and field ofa= fices in Indiana, Illinois and Wise consin. Today’s conference was the first of a series to» enable inspectors to discuss and exchange ideas and recommendations for speeding up and improving enforcement tech« nique in their respective areas. In the four months from May ta August this year 16 inspectors have closed 303 ‘cases in Indiana, found $144,140 was due to employees in back wages and unpaid overtime insgally withheld, Mr, O'Malley

rd pn

CHICAGO, oh New Michigan —Mic.

ach — Riorado crates, flower—Colorado, crates, rots—California, crates,

as Oc Minnesota etlows, 5c; Sweet 8 pain 90c; Colorado: Best oare sh, 85c.

t £ C 1! £

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