The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, April 01, 1936, Final Home Edition, Second Section, Image 20

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The Indianapolis times. [volume], April 01, 1936, Final Home Edition, Second Section, Page PAGE 20, Image 20
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The Indianapolis times. [volume] (Indianapolis [Ind.]), 01 April 1936. Chronicling America: Historic American Newspapers. Lib. of Congress. <https://chroniclingamerica.loc.gov/lccn/sn82015313/1936-04-01/ed-1/seq-20/>

Newspaper Page Text

Trends
Government Places
Itself on Side
of Producer.
BY JOHN T. FLYNN
NEW YORK, April 1. The
Robinson-Patman Bill direct
ed at chain stores has been report
ed favorably to the House. With
the special merits of that bill we
need not concern ourselves. What
seems important is that this is one
more bill offered in the interest
of producers and merchants.
But why should not Congress or
state Legisla-
tures pass bills
in the interest
of prod ueers
and m e r -
chants? The
answer to this
question is one
we will some
day have to
face. For a
number of
years now, par
ticularly in the
last dozen and
more especially
under the New
Deal, we have
seen whole
series of meas
ure* passed to
protect produc-
f 1 11,1
■era*., " Ji
Flyni.
ers. We have the Guffey Bill to
aid coal producers and coal labor
to keep keep up coal prices.
We had the Nil A vo aid all sorts
of industries to Wp up prices of
everything and to enable pro
ducers to unite in their dealings
with the public. We have, indeed,
farm bills which consider farmers
in the light of producers and aim
to enable them to raise prices.
n u a
NOW of course coal produoers
and laborers, merchants,
manufacturers, farmers, business
groups of every description have
rights. But we have now to ask
ourselves whether the Federal gov
ernment represents groups of pro
ducers or represents the mass of
the population as consumers.
Here are two different theories
of economic government. Here are
two entirely different approaches
to our economic problem. One is
that the government should set
Itself up as the guardian of the
consumers. The notion that it can
do both is of course quite futile.
One may say that after all the
producers are really the consum
ers and that by looking out for the
producers the government is really
looking out for the consumers.
nan
THIS, of course, is not true. The
worker is both producer and
consumer. Asa producer, he is or
ganized in his trade union. His in
dustry is organized through trade
associations, boards of trade, etc.
Thus he gets the benefit as a pro
ducer of all sorts of organization.
But when on Saturday he gets
his wages and goes out into the
market as a. consumer, he is the
most unorganized, unprotected in
dividual in this whole world. Busi
ness takes away from him in prices
what he thinks he has got in
wages.
The only agency that can look
out for him as a consumer is his
government, which is elected by all
the people and not by producing
groups. But when he enters the
market as a buyer he now finds
that even his government has
placed itself on the side of the al
ready highly organized producing
groups and is collaborating with
them in curtailing and destroying
his purchasing power.
(Copyright. 1936. by United Feature
Syndicate. Inc.i
BUSINESS FAILURES
DROP DURING WEEK
Defaults Total 194 Against 218 in
Preceding Period.
Times Special
NEW YORK. April 1. —Business
failures in the United States dropped
to the lowest level since the end of
February during the last week end
ed March 26, Dun <fe Bradstreet,
Inc., announced today.
Defaults for the week numbered
194. representing a decline of 13 per
cent, from the 218 recorded in the
preceding week, and compared with
223 for the corresponding 1935
period. •
Failures with liabilities of $5009
and over, in each instance, num
bered 108. This was a decrease of
9.2 per cent from the total of 119
last week. When comparison was
made with the 128 such defaults for
the corresponding week in 1935. a
decline of 15.6 per cent was shown.
On Commission Row
(Quotations below subject to change are
average wholesale prices being offered to
buyers by local commission dealers.)
FRUIT Strawberries: Florida. pint.
14c 38-pint crate. *4.50. Pears—Washing
ton D AnJo (100s box), 53.25 Limes—Mex
ican, carton. 20c: Persian seedless (doz.i.
45c Bananas, seven hands, pound, s**c.
Apples- Delicious ifancy basketsi, *2.15:
Jonathans. *1 63; Roma Beauty. *1.35.
Lemons- Sunkist, i3SOs). *8.50 Grapefruit
—Texas seedless is4s-80s>. *4: Arizona
Sunkist (80s> *3. PineapDles—(24si crate,
*5.25
VEGETABLES Artichoke. California
(doz.i. *l. Beans, green round stnns
less (hampers). S3 5004. Beets—Texas '3
do*, crate), *1.75; cut offs tbu.). *t. Cab
bage—New Texas icratei, *2; half crate.
*1.25. Carrots —California i6-doz. cratei.
*2 75; Texas (3% doz. crate>. *1.50. Cauii.
flower. California (12s cratei, *1 85. Celery
—Florida washed and trimmed (do*.). 45®
90c: Florida i4s. 6s. Bs. 10s crate). *3 25
Cucumbers —Hothouse (doz.i. *1.50: (south
ern busheli, *6. Egg plant—Florida ido*..
Si 50. Kale—(Virginia bushel). 85c. Let
tuce—lceberg, Arizona (best 6s. ss). *3;
home grown leaf (15-lb. basketsi. 75c. En
dive—California (do*,). 75c. .Peppers—
Mangoes icrrtet. *6; peck basket. *1.50:
riot.. 60c. Mint—Hothouse (doz.i. 75c.
Mushroom*—Pound. 30c. Mustard—Texas,
ha'f crate, *1.40. Onions—lndiana yellow
• 50-lb. bagl. 75c; Colorado Spanish iSO-Ib.
bag). *1.85. Oyster plant—Home grown
<doz,). 40c. Parsley—Southern ilong bunch
es. doz.i. 45c. Parsnips—Home grown
washed, bushel. *1; half-bushel. 60c. Peas—
Florida, hamper. *4: Texas, crate, *3.50
Potatoes —Michigan Round Whites. 100-lb.
bag. *1 65; Maine Green Mountains. 100-!b.
bag *2 25; R R Ea-’y Ohio 100-lb bag.
*190: R. R. Triumuh. 100-lb bag. *1.83:
Idaho Russets. IOC-ib bag. *2.25; Idaho
bakers. 70s bo\. *2.50; New Florida
Triumphs. 50-lb bag. *2 75. Sweet Pota
toes—Tennessee Nancv vHalls. hampers.
*1 IS; Indians: Purerto means, bu. crate
*1.50. Radishes—Home grown buttons,
do*., 65®75c: white, 50c Rhubarb—Hot
house. bunch. 45c Rutabagas—Northern
SO-lb bag. *1.25 Sate—Do*.. 45c. Sha'lots
—Louisiana, dor. 45c Spinach—New Texas,
bu . *l. Turnips—New. bulk Texas, bu„
*1.15. Tomatoes—Repacked. 10-lb. box,
11.75.
FRUITS AND VEGETABLES
(By United Press)
CHICAGO. April I.—Apples—Michigan
Mclntosh, bushel, 65c0*1.2f Carrots
Illinois, buahel. 20025 c Sweet potatoes—
bushel *l. Beans—Florida.
hM*heL |J®l.7s Cabbage—Texas, crates,
it *001.7*. , Peas—California. bushel
M Spinach—Texas
fiMhel. 65075 c. Lettuce—Western crates,
JLfO* . *J 25® J*o Celery—Florida, crates.
tS9O® 3.25 Tomatoes—Mexican, lugs. *3 so
8.75. Cauliflower, crates, ti fit® 175
Onion markei (SO-lb. sacksi: Illinois vel-
MJM. Michigan veilows, Indiana yellow*.
sf W D*B M,nne so£ Vfllo * s “ Colo-
. .. .. . • -. ; ,* y -- ' Y •" ' - ' : 1 ' .. • '
o * Abreast of The Times on Finance ♦ o
PAGE 20
INVESTORS SEEK
BETTER YIELDS
IN SECONDARIES
Semi - Speculative Bonds
Bought to Bolster
Fading Returns.
BY CHARLES H. HUFF
Time* Special Writer
NEW YORK, April I.—lnvest
ors who are dipping slightly be
neath the strictly high grade brack
ets in bonds, with conservative por
tions of their funds, for the purpose
of giving some measure of boost to
the yield of their portfolis, are ad
hering in the main to the lines of
basic industries and of carriers
which appear to be on the high
road to recovery.
By at least that faction in the
semi-speculative bond market, alcpf
ness is still maintain;d toward the
issues of companies that can not
be directly classified in the field of
definitely essential industries.
Steel, oil and construction ma
terials are most highly regarded by
this class of investors, according to
views expressed in bond houses.
Center of Attraction Switched
The carriers have became persist
ent favorites with the same group
because of the belief that railroad
revenues, which already have crossed
the depression barrier in many in
stances, cannot fail to benefit from
any tangible upturn in the heavier
industries.
The influx of this brand of buy
ing interest into the bond market
has switched the center of attrac
tion from groups which appeared
frequently as favorites in the earl
ier stages of the general bond mar
ket advance. Some of the more
fanciful speculators crowded around
the liens of amusements, motors and
specialty manufacturers, but the in
jection of the more conservative in
vestment attitude into the specula
tive field has swung the bulk of ac
tivity to liens that represent bed
rock essentials.
Drastic Squeezing Process
For a long time the steady
markdown in coupon rates in suc
ceeding corporate refunding opera
tions was charged directly to the
Federal government. It was claimed
that corporate rates merely were
following the pace set in the bor
rowing market by the Treasury, in
its serial financing.
Investment market obesrvers ad
mit now that the performance has
been largely reversed. The pres
sure on rates now is being exerted
by corporate refunders.
So drastic has been the squeezing
process from that source, it is
pointed out, that investors have fled
to the government bond market,
driving prices up and yields down in
that sector. Sometimes it almost
appears in doubt that government
paper is going to be able to maintain
the margin, which traditionally
adheres to Federal securities.
STANDARD OIL NET
HIGHEST SINCE 1930
Consolidated Income Totals
$30,179,000 for 1935,
Report Shows.
Th? Standard Oil Cos. of Indiana
’arned a net income of approxi
mately $30,179,000 or $1.98 a share
during 1935, the highest earnings for
any year since 1930, according to a
preliminary report today.
Consolidated net income of the
preceding year amounted to $lB.-
949.680 or $1.25 a
share. Final and
exact figures on
earnings of the
company during
the year will be
released to stock
holders April 15,
or 15 days prior to
the annual meet
ing.
The earnings re
ported, however,
are not strictly
comparable due to
changes in ac
counting practices,
according to Ed
ward G. Seubert,
president. Intan-
gible drilling and development costs
are now being capitalized and amor
tized on-a production basis, he ex
plained.
Calculated on the same basis as in
1934, the net income for 1935 would
have amounted to only $24,801,553.
or $1.63 a share on the capital stock.
The above earnings report was re
leased after deduction of all charges
including Federal income taxes.
MARKETS TO CLOSE
Some New York Exchanges to Sus
pend Trading Good Friday.
Times Special
NEW YORK. April 1. —Al
though major security and grain
exchanges, including the New York
Stock Exchange and the Chicago
Board Trade, will remain open on
Good Friday, April 10. and Satur
day. April 11, several leading com
modity markets will be closed, it
was announced today.
Among the markets which are to
observe the two-day holiday are the
j Cotton Exchange, cottonseed oil,
frozen eggs, tallow futures and to
! bacco exchanges.
BANK " CLEARINGS""RISE
22 Leading Cities in U, S. Report
Increase of ",3 Per Cent.
! Times Special
j new YORK. April 1. —Bank
| clearings reported by 22 leading
cities in the United States for the
I week ended March 25 amounted to
I $5,372,442,000, against $5,006,828.-
! 000 for the same period last year, an
j increase of 7.3 per cent, Dun &
Bradstreet, Irfb., announced today.
The moderate gain compared with
an increase of 20.4 per cent in the
preceding week. Clearings in New
York City showed a gain of 6.6 per
cent. Centers outside reported a
total of $1,762,322,000, an increase
of 8.8 per cent above the total for
the corresponding period last year,
Busigraphs
WEEKLY FACTORY WAGES
(fWTIOMAL INDUSTRIAL CONFERENCE BOAftd)
30
* fTfi END OF YEAH
* n
5 n
0l I—l
an | i 11 ! I I; j 11
O
Q
0 111. liil lil liil llil.li
THE PARKER CORP. GENERAL. DISTRIBUTORS
INCORPORATED INVESTORS
The low point in factory wage
rates was in March, 1933, when the
average weekly wage, including both
men and women, was only $14.60.
Since then the average rate steadily
advanced to $23.46 per week at the
end of last year. Skilled and semi
skilled male workers received an in
crease of 14% per cent during last
year to $26.39, while the average
weekly wage of factory female work
ers increased 6 per cent to $15.97.
PORKERS SHOW
UNEVENTREND
Market Steady to Mostly
5 Cents Lower; Veals
Drop Sharply.
Despite a sharp decrease in re
ceipts, the pork market was steady
to generally 5 cents lower today at
the Indianapolis Union Stockyards.
The moderate decline was limited
mostly to hogs weighing above 160
pounds. Light slaughter pigs and
packing sows remained unchanged.
Demand for the various classes
showed signs of weakness following
yesterday’s heavy supply. Receipts
today were estimated at 4000 and
holdovers numbered 101. Larger
supplies reported by surrounding
markets affected outside interest at
the local exchange.
The general bulk of 160 to 210
pounds, cashed in at $10.75 to $10.85.
The top price held at $10.90. Bulk
of medium weights, from 225 to 260
pounds, brought $10.45 to $10.65,
while extreme heavy kinds, from
325 to 400 pounds, sold at $9.80 to
$9.95. Light slaughter pigs, scaling
130 to 160 pounds, were salable at
$10.15 to $10.65. Packing sows held
at $9 to $9.75.
Initial trading was steady to
strong in the cattle market, espe
cially for slaughter steers which
sold from $7.50 to $8.65. Heifers
held around $7 to SB, and beef
cows brought $5.50 to $6. Receipts
numbered 1200.
With practically no demand evi- j
dent, the veal market slumped
sharply $1 to $1.50 under yester
day's average. The bulk of good
and choice grades sold at $9 to
$9.50. Receipts were 600. Lambs
again were scarce with a small lot
of medium kinds selling at $lO.
Most sales ranged fro-m $9.50 down.
Receipts numbered 800, including
around 600 directs.
HOGS
March. Bulk. Top. Recepits.
26. $19.70® 10.80 $19.35 4000
27. 10.704/10.80 10,90 5000
28. 10.70(3)10.80 10.80 1000
30. 10.70(310.80 10.85 6000
31. 10.80® 10.90 10.90’ 5000
Aprit
1. 10.75(310.85 10.90 4000
Light Lights
il4o-160i Good and choice $10.15310.75
Medium . 9.65(310.15
(160-1801 Good and choice . 10.75(5 10.90
Medium . . 10.30(3)10.75
(180-200) Good and choice . 10.75® 10.90
Medium 10.35(310.75
(200-220) Good and choice.. 10.75(310.90
(220-2501 Good and choice.. 10.45(3)10.75
Heavyweights
(250-2901 Good and choice . 10.25®10.45
(290-350) Good and choice.. 9.85® 10.25
Packing Sows
(275-3501 Good 9.60® 9.75
(350-4251 Good 9.25(3 9.65
(425-5501 Good 9.00® 9.50
(275-350) Medium 8.75® 9.60
Slaughter Pigs
(100-140) Good and choice . 9.40(310.15
Medium 8.40® 9.65
CATTLE
—Receipts, 1200—
(550-900) Choice $ 9.25(310.50
Good 7.75@ 9.75
Medium 7.25® 8.50
Common 5.75® 7.25
(900-11001 Choice 9.75010.75
Good 8.25@10.00
Medium 7 25® 8.50
Common 6.25® 7.25
(1100-13001 Choice 10.00010.75
Good 8.250)10.00
Medium 7.25® 8.50
(1300-15001 Choice 10.000 10.75
Good 8.50010.00
Heifers
(500-750) Choice 7.75® 8.75
Good 7.25® 8.00
Common and medium 5.750' 7.25
(150-1901 Good and choice.... 7.25® 8.75
Common and medium 5.50® 7.25
Cows
Good 6.00® 6.75
Common and medium 5.00® 6.00
Low cutter and cutter 3.75®’ 5.00
Bulls, good 6.00® 6.50
Cutter; com. and med. bulls... 5.25® 6.25
VEALERS
—Receipts, 600—
Good and choice $ 8.50® 9.50
Medium 7.00® 9.00
Cull and common 4.50® 7.00
Calves
(250-500) Good and choice.... 6.25® 9.25
Common and medium 5.00® 6.50
Feeder and Starker Cattle
(500-800i Good and choice ... 7.00® 8.25
Common and medium ... 7.50® 8.25
(800-10501 Good and choice... 7.25® 8.65
Common and medium 5.50® 7.25
Cows
| Good 4.75® 5.25
i Common and medium 4.50@ 4.75
SHEEP AND LAMBS
—Receipts. 800—
| Lambs. 90 lbs. down, good
I and choice *10.00®10.50
Good 9.500 10.00
Medium 9.00® 9.75
Common 7.75® 9.00
Ewes
190-170) Good and choice ... 4.50® 5.50
Common and medium .. 3 50® 4.50
Yearling wethers, good choice . 9.00® 9.50
Medium 7.75® 9.00
Other Livestock
(By United Press)
CHICAGO. April I.—Hogs—Receipts. 11,-
000, including 4000 directs: very uneven:
weights above 180 lbs., steady to i o cents
higher than Tuedsay's average; lighter
weights steady to 10c lower: sows steady:
top. *10.80: bulk 180-250 lbs.. *10.60010.85:
250-300 lbs., *10.40® 10.65; 300-350 lbs..
*1.250 10.45: 140-180 lbs.. *10.15010.60;
sows, mostly *9.5009.75. Cattle—Receipts,
i 7500; calves. 1500; better grade steers in
fairly liberal supply: market slow on weak
kinds of value to sell at *9.50 upward;
early tops. *10.75: lower graded fairly
staidv: these selling at *8.50 down: not
mueff change: fat steer market this week:
shippeis kind ruling very slow, however,
after Monday; she stock generally steady:
weighty in-between grade heifers on stock
| cars slow; bulls steady at *6.15 down:
vealers. *B4/9 on light offerings: better
grade *9.50010.50; mostly *lO down. Sheep
1 —Receipts. 6000: slow market on all
i classes, steady to weak; fat lambs shade
easier in spots: early bulk choice fed
western. *lo® 10.35: few. *10.40 to shippers;
top. *10.50. paid by city butcher: several
loads 98-99-lb. Colorados. *lO 23® 10 35:
choice clippers. $8 0 9:35; most native
wooled ewes. *5®5.50.
FORT WAYNE. Ind. April I—Hogs
Steady; 160-180 lbs. *lO 75; 180-200 lbs..
*10.65; 200-225 lbs.. *10.55 : 225-250 lbs.
*10.45; 250-275 lbs.. *lO 30; 275-300 lbs.,
*10.20 : 000-350 lbs . *9 95; 140-160 lbs..
*lO 20: 120-14 lbs . *9 90: 100-120 ibs.. *9 65,
roughs. (9; stags. *7.25; calves. *9; lambs.
*9.75.
LAFAYETTE. Ind. April t.—Market,
steady to 5c lower; 170-210 lbs . *10.604/
10 70; 210-235 lbs *10.400 10.50 ; 235-260
lbs.. *10.20® 10.30 : 260-325 lbs.. *9.904/ 10.10:
15-17 lbs.. *1.5: 10-15 lbs.. *9.50010 25;
roughs, *9.25 down. Cgives. *6.50; 13.50
lower. Lambs. *9,73, p
Seubert
WEDNESDAY, APRIL 1, 1936
FRANC DUE TO
BE REVALUED
WITHINI WEEK
Reserve Heads Also Predict
French Embargo on
Gold Exports.
By United Press
WASHINGTON, April I.—Offic
ials of the Federal Reserve System
see in recent developments in the
international money market an eas
ing of the perplexing problem cf
huge gold imports piled up in Re
serve banks.
Monetary experts predicted:
1. An embargo against exports of
gold will be declared soon by
France.
2. The franc will be revalued
within the week.
This, they said, will cut off the
intermittent attacks which have
caused more than $1,000,000,000 in
gold to be drained from the Bank
of France.
Change “Almost Inevitable”
Fiscal authorities said this prob
ably will end the heavy bullion
shipments forced from France to
this country by war rumors and the
rise in American security prices.
They said it was probable that
France would seek revaluation as a
result of the latest asault on the
franc, threatening new huge drain
ages of gold.
If emergency measures by the
Bank of France, headed by the
raising of the discount rate to 5
per cent, fail to alleviate the sit
uation caused by the franc’s decline
beneath the gold point, Reserve
Board economists beiieve a change
In France’s monetary structure ‘ al
most inevitable.”
Franc Status Studied
The board of governors is par
ticularly interested in the status of
the franc. Resumption of the flow
of gold from France would cause
grave difficulties to the board.
Every ounce of gold received in
American ports adds $35 to the pile
of excess reserves accumulated in
the vaults of the Reserve System.
Aided by the vast March financ
ing operations of the Treasury,
involving government offerings of
almost $2,000,000,000, the excess
balance has been reduced to $2,-
11,000.000 from $3.000,0000,000.
Removal of France as the last
gold standard country of impor
tance would strike a blow at hopes
of some economists to bring the
world back to its previous monetary
levels.
AUTO OUTPUT SETS
RECORD FOR YEAR
Production Totals 101,965
Units During Week.
Times Special
DETROIT, April 1. —Automo
bile production in the United States,
totaling 101,965 units last week,
reached the highest level of the
current year, according to Ward’s
Automotive Reports.
Representing an increase of more
than 5000 cars over the previous
week’s output of 96.906 units, the
level was the best since before
Christmas, and marked the fifth
consecutive weekly increase for the
industry. With five-day schedules
restored in certain Chrysler di
visions, the company’s output
totaled 22,760 cars during the week,
compared with 19,775 in the preced
ing week.
General Motors reached higher
ground, turning out 40,975 assem
blies, against 39,250 week ago. Ford,
with total production of 25,250 held
approximately the same pace when
25,400 cars were turned out. Inde
pendents almost uniformly had pro
portionate share of the industry’s
gain.
Production levels during April will
be increased slightly over the cur
rent figures. Ward's stated. The
service declared that optimistic
dealer reports and orders at
factories indicate that the rate of
output by most manufacturers
would probably be held up longer
by them during the second quarter
of the year than was the case in
1935.
KENNECOTT CO. EARNS
$13,164,571 IN 1935
Net Income Equivalent to $1.61 a
Share After All Charges.
Times Special
CHICAGO. April 1. Consoli
dated net income of the Kennecott
Copper Corp. amounted to $13,164,-
571 during 1935 after E. T. Stan
nard. president, announced today
in releasing the annual report to
stockholders.
Net earnings for the year which
were equivalent to $1.22 a share
compared with a total of $5,719,864,
or 53 cents a share in the preceding
year. Before depreciation and re
tirements of $4,152,226. the 1935 net
income was $17,316,798, or $1.61 a
share, according to the report.
In addition, there was a credit to
surplus of $1,206,471, or 11 cents a
share, from the s*ale of purchased
copper, which at the beginning of
the year, was carried in the inven
tory at 5 cents a pound. Stockhold
ers received distributions at the rate
of 15 cents a share in March. June
and September, and 20 cents in De
cember. The total was $7,001,534,
against dividends of $4,841,498 paid
in the previous year.
STUDEBAKER SALES UP
Deliveries in First 20 Days of March
Increase 65 Per Cent.
Time* Special
SOUTH BEND. Ind.. April I.
Retail deliveries of the Studebaker
Corp.. including cars and trucks, to
taled 3803 during the first 20 days
of March, compared with only 2298
units delivered in the corresponding
period of 1935, Paul G. Hoffman,
president, announced today.
The total deliveries for the initial
part of the current month showed
an increase of approximately 65 per
cent, against an increase of only
49 per cent for the same period a
year ago, Mr. Hoffman pointed out.
Awe*** ~~
o| ———i —p —i —| —i ——i —*•
. Steel Ingot Production*
60 —8
40 ~— — J \wjr : 7 7
*° " 2>Lvmvz> iLojtx 20
I _
_ ill iii t ii tiilit i)u r i „
Steel ingot production averaged 118,700 tons daily during February, compared with 112.900 tons in
January. This rise was not quite so great as is seasonally normal and the Economics Statistics’ adjusted
index declined to 62.7 per cent for February from 63.5 in January. The decline in steel demand was quite
pronounced, the composite index declining to 67.5 per cent from 75.7 per cent in the preceding month, due
to the curtailment in automobile production.
New York Stock Exchange Prices
(By Thomson Sc McKinnoni
11:15
A.M. Prev.
Oils— High. Low. NY. g:lose.
Amerada 11BT 2 115 115 116
All Rfs> 34 7 a 34% 34% 34%
Barnsdall 17** 17% 17% 17%
Consol Oil 14% 14% 14% 14%
Corn of Del .... 36% 36% 36% 36%
Houston (new) . 10% 10% 10% 10%
Mid Cont Pet . 22% 22% 22% 22%
Ohio Oil 14% 14% 14% 14%
Pet Corp 16% 16% 16% 16%
Phillips Pet 43% 48 % 48% 48
Plymouth Oil ... 15% 15% 15% 15%
Pure Oil 23% 23 23% 23
Seaboard Oil ... 38% 37% 38% 37%
Shell Un 17% 174, 17% 17%
Soc Vac 14% 14% 14% 14%
S O of Cal .... 44% 44% 44% 44%
S Oof Ind .... 37% 37% 37% 37%
S O of N J 65% 65 % 65% 65
Texas Corp . .38 37% 38 37%
Tidewater Assn . 18 18 18 1704
Un Oil of Cai ... 26% 26% 26% 26%
Steels—
Acme Steel 70% 69 70% 68
Am Roll Mills ... 29% 29% 297a 29%
Beth Steel
Byers AM 22% 22 Vi 22 % 22
Cruc Steel 37% 37 37% 37
Inland Steel 110% 110% 110% 110%
Ludlum Steel . 28% 28 % 28% 28%
McKeesport Tin. 106% 106% 106% 106
Mid Steel 44% 43% 43% 42%
Natl Steel 69% 69 69 % 69'/a
Otis Steel 19% 19 19% 18%
Rep I & Stl ... 23% 23% 23% 23'/a
Rep I & Stl pfd 93% 93% 93% 93%
U S Pipe & Fdy 36% 36 36% 35%
U S Steel 66Vi 65% 65% 64%
U S Steel pfd...128 128 128 128
Warren Bros ... 10 10 10 9%
Youngstn S Sc T 50 50 50 50%
Motors—
Auburn 50% 50% 50’4 49%
Chrysler 97 Va 56% 97% 96
Gen Motors 68% 68 68% 67 %
Graham Mot ... 3% 3% 3% 3%
Hudson 18% 18 18*4 18%
Mack Truck 32% 32% 32% 32V*
Nash 19% 19% 19% 19
Packard 11% 11% 11% 11%
Reo 8 7% 8 8%
Studebaker 13% 13% 13% 13
Yellow Truck ... 19% 19% 19% 19%
Motor Access—
Bendix 28% 28 28% 27%
Bohn Alum 57*4 57 57 56’4
Borg Warner ... 81 80 81 79
Briggs 60% 60% 60*4 597a
Budd Mfg 13% 13 13% 12%
Budd Wheel 11% 11*4 11*4 11%
Eaton Mfg 35% 35Vi 35% 35%
Elec. Auto Lite .. 407* 40% 40% 40'/a
Houdaille 28% ,78'4 28% 28%
Murray Body ... 20% 20 20 19%
Stew Warner ... 21% 21% 21% 21%
Timken Roll . 68% 67% 68% 67%
Timken Det Axle 17% 16% 17% 16%
Mining—
Alaska Jun 15 15 15 15
Am Smelt 86% 85% 86 84%
Anaconda 35% 35 35% 3474
Cal & Hecla 8% 8% 8% 8%
Cerro De Pasco.. 54% 53% 54% 54%
Dome Mines .... 44% 44% 44% 44%
Ins Copper 12 12 12 12
Int Nickel 49% 49% 49% 49%
Kennecott Cop.. 38% 38 38% 38
Park Utah . .. 4% 4% 4% 4%
Phelps Dodge .. 38 38 38 37%
St. Joe Lead .. . 27% 27% 27% 27
U S Smelters ... 90 90 90 90
Vanadium 23 23 23 22%
Amusements—
Fox Theat 21 20 % 21 20%
Loews Inc 47% 46% 47 V* 47 %
Radio Corp 13Vs 13 13% 12%
Paramount 9% 9% 9% 9%
RKO 7% 7% 7% 7%
Warner Bros ... 12% 12 12% 11%
Tobaccos—
Am Snuff 61% 61% 61% 62%
Ligg & M'yrs B 102 102 102 102%
Lorillard 22% 22% 22% 22%
Reynolds Tob B 53 53 53 53%
Rails—
B& O 20 1914 19% 19%
Can Pacific 13 12% 13 12%
Ch & Ohio 57 5674 5 7 56%
C M Sc St P pfd 4% 4% 4% 4%
Dela & Hud ... 44Va 44% 44Va 43'/a
Del Lac & W... 1974 187* 1914 ig%
Erie 14% 14 14% 14
Gt Northern pfd 36% 36% 36% 36
111 Central :24 2374 2 4 23%
K C Sou 237', 237, 23% 24
Lehigh Valley .. 117* 11% 1174 11%
MK&T ...8 8 8 8 "
MK & T pfd... 22% 22% 22% 21%
Mo Pac 3% 3% 3% 3*4
Mo Pac pfd 6V* 6% 6% 6
N Y Cent 36 357'* 36 35%
Nor Pacific 31 31 31 30%
Penn R R 33% 33 33*4 32%
Reading 43% 437'* 43% 43
Sou Pac 34*4 33% 34 33
Sou R R 17 16% 17 16%
Equipments—
Am Car & Fdy.. 35% 35% 35% 35
Am Steel Fdy .. 30% 30 30 % 30
Bald Loco 4 s , 4*4 4% 4*4
Gen Elec 39*4 38% 39*4 33%
Gen R R Sig ... 45% 457* 45% 45
Pulmari Inc .... 437* 42% 43% 42*4
West Air Br .... 43*4 43 43V* 42%
Westingh Elec . .115% 115 115 113%
Utilities—
Am Sc For Pwr . 9 8% 5 8%
Am Power & Lit 12% 12 1 274 12%
AT&T .164% 164% 1647* 164
Am Wat Wks . . 22% 22 22% 217,
Col Gas & Elec.. 19% 19% 19% 19*4
Comm & Sou ... 3% 33% 3
Consol Gas .. 33% 33% 33% 33%
Elec Pwr & Lit.. 14% 14% 14% 14*4
Int Hydro Elec.. 4% 4% 4% 4*4
Int T & T .. 16% 16% 167* 164,
Nat Pwr & Lit.. 11*4 11% 11% 11 Vi
North Amer .... 26% 26% 26% 267,
Pac G & E 36*4 367* 36% 36V,
So Cal Edison.. 277, 27 277, 27
Std Gas 77, 7% 7% 8
Stone & Webster 18% 18% 18% 18%
United Corp .... 7% 7 7% 7
Un Gas Imp ... 16*4 16% 167, 16
Ut Pwr & Lt A 5% 5% 5% s*,
Western Union.. 86% 86% 86% 86
Ruhbers—
Firestone 30% 30’* 30% 307*
Goodrich 19% 19% 19% 19*,
Goodyear 29% 28% 29% 28 V*
Miscellaneous—
Allis Chalmers . 47 47 47 46%
Am Can 120% 120 120** 119%
Am Mach & Fdy 23% 23% 23% 23%
Brklyn Man Tr 49% 49 49 48%
J I Case 156% 153% 1567a 153
Conti Can 81 81 81 81*4
Investment Trusts
(By Thomas D. Sheerin Sc Cos.)
Bid Asked
Administered Fund 2nd *16.66 *17.72
•Affiliated Fund Inc 1.95 2.13
American General Equities .. 1.10 1.12
American Business Shares... 1.18 1.28
Bullock Fund Ltd 18.25 19.75
Century Shares Trust 27.04 29.08
Collateral Tr Shares "A” 6.56 6.63
Corp "AA” or "Accm” (modi 3.34 3.37
Corp "AA” or "ACC” tunmd) 2.67 2.70
Corp Trust Shares (orig.) 2.81 2.85
Diversified Trustee Shs "B" 10.56
Diversified Trustee Shs "C” 4.53 4.57
Diversified Trustee Shs "D” 6.73 6.81
Dividend Shares Inc 1.65 1.79
•Incorporated Investors 22.45 23.73
Investors Fund Amer 1.06 1.16
•Market Street Invest Corp .30 85 32.46
Maryland Fund t 19.30 20.82
I "Massachusetts Investors ... 25.54 27.76
Nation-Wide Sec Cos "B” 4.37
j Nation-Wide Voting 1.78 1.92
North Aider Tr Shs 1956 .... 3.32 3.35
North Amer Tr Shs 1956 . 3.28 3.31
North Amer Tr Shs <orig.).. 2.58
Quarterly Income Shares . 1.57 1.73
Representative Trust Shares 12.50 12 65
Selected Amer Shares Inc 1.56 1.71
Selected Amer Shares (orig.) 3.64
: Selected Cumulative Shares . 9.46 9.56
i Selected Income Shares .... 4.91 501
| "State Street Invest Corp 98.50 103.06
Super-Corp of America "AA” 2.79 2.83
i Super-Corp of America "BB” 2.83 2,87
j Super-Corp of America "A"’.. 4.21 4.26
i Super-Corp of America "B” 4.40 4.45
Super-Corp of Amer •C’-'D” 8.07 8.15
'•Supervised Shs Inc iDela.) 13.36 14.54
Trustee Stand Oilshares "A” 7.54 7.62
Trustee Stand Oilshares *B” 6.73 6.81
Trustee Standard Invest "C" 2.97 3.01
Trustee Standard Invest "D” 291 2.95
Universal Trust Shares 4.28 4.33
Uselps A 1 18.85 19.10
Usielps "B” 2 90
Uselps Voting 1.14
United Standard .Oillunds .. 1.33 1.46
, •Xx-Drudead, *
Caterpillar Tract 74% 73% 74% 73%
Crown Cork ... 50% 50% 50% 49%
Curtis Pub 22% 22% 22’, 22%
Deere & Cos .... 847* 84 847* 84
Eastman Kodak 169 169 169 168%
Gillette 177* 17% 177* 17
Natl Cash Reg.. 27% 27% 27% 27
Foods—
Am Sugar 53% 53% 53% 53
Armour s*/2 5% 5% 5%
Borden Prod . 27 72 27 % 27 V* £7%
Canada D G Ale 147* 14% 147* 14
Cuban Am Sug 12 12 12 12
Gold Dust .... 19% 19 s * 19% 19%
G W Sugar ... 35% 357* 35%/ 5%
Natl D Prod ... 23*% 23% 23V* 23’*
Puritv Bak 14 14 14 14
Std Brands 16% 16% 16% 16 74
Un Biscuit 25% 25% 25% 25*,2
United Fruit ... 737* 73% 73V* 73
Retail Stores—
Allied Stores .. 8% 8% 8% 8%
Assd Dry Goods 1674 16 1674 16
Gimbel Bros. .. 10 9% 10 9%
Gm Un Tea .. 4% 4% 4% 4%
Kresge S S 22% 22% 22% 22 %
Kroger Groc 24?* 24% 24% 24%
Macy R H 45V* 45% 4574 45%
McLellan St .. 147* 14% 14V* 147*
Marshall Field.. 17% 17V* 1774 1 7V4
May Dept St ... 4774 47% 47% 42V*
Mont Ward 42% 4274 42V* 42
Natl Tea 9% 9% 9% 9%
Safeway St 33% 33% . 33% 33V*
Sears Roebuck .. 67% 67 67% 66%
Wool worth 49% 49*/* 4974 49%
Aviation—
Aviation Corp .. 7% 774 7% 7%
Boeing Aircft .. 227* 22% 2274 227'*
Curtiss Wright . 7% 774 7V* 7%
Curtiss Wr "A”. 1774 177* 17V* 17*/*
Douglas Air 69% 6974 6974 68%
Sperry Corp 1974 19% 19% 19%
Uni Aircft New. 25V* 2574 25*/* 25
Chemicals—
Allied Chem 201*4 200 200 200
Col Carbon 113 113 113 112%
Com Solvents ... 2174 217* 217* 2174
Du Pont 149% 1487* 14974 146%
Freeport Tex ... 317* 31V* 3174 31
Liquid Carb 4074 39% 407'4 40
Math Alkali 32% 327* 3274 3274
Natl Dis (new).. 3174 31% 31’/* 31 5 4
Tex Gulf Sulph.. 3474 3474 3474 34%
Union Carbide 517* 5074 517* 82
U S Ind Alcohol 6% 67* 674 50
Lambert 23 23 23 23
Sterling Prod ... 7074 70% 707* 71*4
Un Drug (new).. 1474 14% 14% 14 s ,
Zonite Prod 874 874 874 87*
Financial—
Adams Exp 12 12 12 13
N. Y. Bonds
(Reprinted From Late Times Yesterday)
DAILY BOND INDEX
20 20 20 60
_ . Inds. Rails Util. Bonds
Today 91.7 91.6 105.1 86.1
Yesterday .... 91.9 91.6 104.9 96.1
Week Ago 92.1 92.6 105.2 96 6
Month Ago ... 92.6 93.6 105.0 97 1
Tear Ago 84.3 71.0 93.7 83.0
High 93.4 95.6 105.5 97.9
1936 Low 91.5 84.7 103.5 93 3
(Copyright, 1936, by Standard Statistics)
U. S. GOVERNMENT BONDS
•Bv Abbott. Proctor & Paine)
Treasurys
Prev.
. .... ~ Close, else.
il }9j4-54 U 2.23 112.22
li 4 *’ 11029 110 - 29
2 !•*“ 19 j4-46 107.10 107.13
2/ **S 19 4?-40 105.13 105.18
3s 1951-58 104.1 104 5
* io**"*? 104 ' 15 10 4.18
19 45-47 102.34 102.26
2%s 1951 101.25 101.25
Home Owners Loan Corp.
2,/ < s 194 9 101.18 101.19
3s 1952 102.21 192.22
Federal Farm Mortgage Corp.
3s 1949 .102.27 102.29
1942 -“7 103-12 103.13
2%s 1949 102.7 102.8
DOMESTIC
• Prev.
Issue. Close. Close.
Allee Corn 5s '44 93 92%
Allesr Corn 5s '49 86% 86%
Am Frgn Pow 5s 2030 76% 76
Am Tel & Tel 5%s '43 113 113%
Am Tel & Tel 5s 'SS 112% 112%
Arm &Cos (Deli 5%s '43 97% 97%
Atl Coast Line 4s '52 98 98%
Atl Coast Line 4%S '64 85 85
Am Wat Wks 5s '44 107% 108
Am Rolling Mills 5s '3B 121V* 120
Balt & Ohio 6s '95 93 93%
Balt & Ohio 4%s '6O 69% 69%
Buff Roch & Pitt 4%s '57 .... 76% 76%
Beth Steel 5s '36 105% 105%
Chi Milw & St P 5s '75 23% 227*
Chi Milw & St P 5s 2000 7% 7%
Cleve Un Term 5s '73 106% 106
Cleve Un Term 4%s '77 101% 101%
Col Gas 5s Mav '52 103% 103%
Col Gas 5s April '52 103% 104
Col Gas 5s '6l 102% 103'*
Can Pac Pern 4s 92% 92%
Cent Pac 5s '6O P 5% 95
Big Four 4%s '77 89% 89
Bie Four 5s '63 98 98%
Colorado & Sou 4%s 'BO 73 73
Chi & West Ind 4s '52 104% 103%
Chi & West Ind 5%s '62 107 107%
Chi & Nor West 4%s '49 13% 13%
Con Gas 5s '57 ISS! 7 ? *25!"
Chesa Corp 5s '47 128% 129%
N Y Dock 5s '3B 63% 67%
Erie 5s ’67 16% 76%
Gen Cable 5%s ’47 104% 105
Grt Northern 7s ’36 101% 101%
Grt Northern 4%s ’76 101 101
Grt Northern 4%s '77 .. ..100% 100
Hud & Manhat Ref 5s '57.. 86% 86%
111 Cent 4%s '66 73% 74
111 Cent Jt 4%s '63 T*% 79
111 Cent 5s '63 83% 83%
Interntl Hy Elec 6s '44 .... 56V 56%
Interntl Tel <fc Tel 4%s '39 ... 97 9a%
Interntl Tel & Tel 5s ’55 .... 87% 87%
Interntl Tel & Tel 4%s ’52 .... 83% 83
P Lorillard 7s ’44 132% .
McKess & Rob 5%s ’SO 103’* 103%
Natl Dairv 5%s ’4B 103% 103%
Nickel Plate 4%s ’7B 80% 80%
Nickel Plate 5%s ’74 93% 94
N Y Cent 5s 2013 ... 90V* 90
N Y Cent 4%s 2013 (01d)... 84 84
Nor Amer Cos 5s ’6l 105% 105%
Nor Pac 3s 2047 81% 82
Nor Pac
Nor Pac 6s 2047 . 110% 110%
Nor States Pow 5s 41 104% 104%
New Orleans Term 4s ’53 .... 90%
Otis Steel 6s ’4l 102% 102%
Penn Rv 4**s ’B4 109 108%
Penn Rv 4%s ’Bl 108% 108-ls
Penn Ry 4%s ’7O .101%
Pac G & E 5s ’42 103% J-'’
Portland Gen El 4%s ’6O 72 72
Para Publix 5%s ’SO 90 90%
Penn P & L 4%s ’Bl 106 106V*
Postal Tel Sc Cab 5s 53 ... 33% 34
Rem Rand WW 5%s ’47 104.17 104.17
Shell Union Oil 5s ’47 102.2 104
Sou Pac 4*is ’6B 89% 89%
Sou Pac 4%s ’Bl 88% 88%
Sou Pac 4%s ’69 88% 88%
Sou Pac 4s ’49 88% 89
Sou Rail 4s ’56 60% 61 %
Sou Rail 6s ’56 79 78%
Sou Rail 6%s ’56 82’f 83%
Sharon Stl Hoop 5%s ’4B ..,.103.8 103.5
Texas Pac 5s ’BO 102 102
Texas Pac Ss ’79 102 102%
Texas Pac 5s ’77 101% 102
Union Pac 4s ’47 113*% 113
United Drug 5s ’53 100% 100%
U S Rubber 5s ’47 105% 105’*
NY NH & Hart 4*is 'B7 33% 33%
Warner Bros 6s ’39 95 % 95
Western Mary 5%s ‘77 107% 107%
Western Mary 4s '52 100 100%
Youngstown SScT 5a ’7O ...106% 106%
Youngstown S&T 5s '7B ...105% 105%
FOREIGN
Argentina A6s '57 99% \W
Argentina B6s ’SB 99% 9/ ’ 3
Canadian Govt 4s '6O 108 108
German 5%s 'BS 27 26 s *
German 7s '49 35 33%
Italy 7s ’sl 69% - 69%
Japan 6%s ’54 93% 94’*
Poland 7s ’47 104 105%
Rome 6’is '52 .. 61 61
Tokyo City 5%s '6l 76 78
(Save Money
On Quality Paint
ADVANCE PAINT CO.’S
FACTORY STORE
SOT X. Capitol Axe. _ 81. 1714
Corn Situation Studied
On the theory that we have now entered the *m
sonal period of declining receipt*, bullish possibili
ties in the corn situation are attracting wore atten
tion.
Allegheny Corp. 3% 3*2 3% *7*
Chesa Corp 63% 63% 63’* 63
Transamerica ... 137* 13 4 13% 137*
Tr Conti Corp.. 107* 107, 107* 107,
Building—
Gen Asphalt ... 317* 31% 31** 31*4
Holland Furnace 38 38 38 37 7*
Int Cement 48*, 47% 48’s 477*
Johns Manville. 109 108 109 108
Libby Owens Gls 59** 59 5974 58%
Otis Elev 30 7 2 30 307* 297*
Household-
Col Pal Peet ... 187* 18*4 18% 177.
Congoleum 39% 39% 39% 39’*
Kelvinator 237* 23 237* 227*
Proc & Gamble. 467* 467* 46% 467*
Servel Inc 22% 22 22% 21%
Simmons Bed .. 32 317* 32 3174
Textiles—
Belding Hem ... 15% 15% 15% 1574
Celanese Corp .. 287* 28** 28’* 28
Collins Aikman. 457* 457* 457* 44%
Gotham Hose .. 117* 11% 11% 117*
Indus Rayon ... 30% 30’* 30% 297*
Kayser Julius .. 29% 297* 29% 29%
Real Silk 15*4 15% 15% 16%
Chicago Stocks
(Bv Atkins, Hamill & Gates)
11:30 Prev.
A. M. close.
Associated Investors 31% 32
Berghoff 11% 11%
Bruce EL 17*4 . • _
Butler Brothers 10 9'.
Cent 111 Pub Service pfd 59 58%
Chicago Yellow Cat 31 30%
Cities Service 5% 5%
Commonwealth Edison 103 103
Continental Steel 44'/* 43
Cord 7% 7%
Dayton Rubber 13% .•
Electric Household 15% 15%
General Household 5% 5%
Godchaux Sugar "A” 37 36 Vi
Godchaux Sugar “B” 17% 16'*
Jarvis Mfg 22% 22V*
Katz Drug . . . 37 37*
Ken-Rad T Sc L 8% ...
Lincoln Printing 8% .• •
Lion Oil Refining 14% 14V*
Nachman Spring Filled 14% ..
Nat Gypsum 62% 62
Noblitt-Sparks 31% 31%
Northwest Bancorporation ... 11% 11
Standard Dredge pfd 16 16%
Williams Oil-O-Matic 12
Vortex Cup 19*i 19
Zenith 18% 18%
New York Curd
(By Atkins, Hamill Sc Gates)
12:30
P. M. Prev.
N. Y. close.
Aluminum Cos. of America ~..140 140
Am Cyanamid "B" 37 36Vi
Am Gas Sc Electric 38 % 38*4
Am General . 10 10
Am Superpower 2% 2%
Ark Natural Gas "A” 7% 6%
Carrier Corp 9% 9%
Creole Petroleum Corp 28% 28%
Crocker-Wheeler 12% 13
Elec Bond Sc Share 23% 23
Fisk Rubber 7*4 7Vi
Ford Motors Canada "A” .... 24% 24V*
Glen Alden 14% 14%
Gulf Oil Codp of Penn 95 94*4
Humble Oil Sc Refining Cos ... 71% 71V*
Huyler’s of Del. pfd 33'% ..
Hygrade Food 4% 4%
Lake Shore Mines 53Vi 53Vi
Molybdenum Corp of America. 10% 10%
Mueller Brass Cos 30% 31%
Natl Bellas Hess Inc 2% 2%
Niagara Hudson Pwf 10V* 10
Pan-American Airways 59% 59
Pennroad Corp 4% 4%
Root Petroleum 18% 17%
St Regis Paper Cos 4% 4%
Segal Lock 3% 3%
Sonotone 3V 3'/*
Standard Oil of Ohio 30 30
Stirchi Brothers Stores 5% 5%
Stutz Motor Car of Amer 2% 2%
Technicolor. Inc 29 V* 29%
Wayne Pump 27% 27%
Mueller Brass Cos 30% 31%
Unlisted Stocks
(By Blyth Sc Cos.)
NEW YORK BANK STOCKS
Bid Ask
Bankers Trust 60% 62%
Central Hanover 111V*, 113'*
Chase 39'% 41%
Chemical National 57V* 58%
Guaarnty 286% 289%
Irving 15% 17%
Manufacturers 51 52 s *
National City 35'/* 36%
Cont 111 Chicago . 162 165%
First National Boston 45% 47V*
National Smawmut 28% 30%
FIRE INSURANCE
Etna Fire Ins 54 56%
American Ins of Newark 15 16%
Baltimore American BV4 9%
City of New York 26 28%
Federal Ins 49 51%
Franklin Fire 31% 33
Great American Ins 29% 31 Vi
Hanover Fire Ins 37% 39*4
Hartford Fire 77% 79%
Ins Cos of A 72*2 74%
Home Ins 37% 39 V*
National Fire 74% 76%
National Liberty 9% 11 v*
North River 27% 29 %
Phoenix 88 90%
U 8 Fire 54 56%
Westchester Fire 36% 38%
Money and Exchange
INDIANAPOLIS STATEMENT
Clearings 1 *2.781.000
Debits 5,832.000
TREASURY STATEMENT
(By United Press)
WASHINGTON. April I.—Government
expenses and receipts for the current fiscal
year to March 30 as compared with a
year ago:
This Year. Last Year.
Expenses *5,323.720.987.70 *5.057,128.139.01
Receipts.. 3.090.789.805.19 2.854.196.681.26
Deficit . 2.232.931.182.51 2.202.931,447.75
Cash* bal. 2.868.960.515.47 2.445.341.872.59
Pub debts 31.460.254,715.88 28.805.470.944.23
Gold Res. 10,180.685.503.90 8.566.858.178.43
Customs 290.932.679.57 251.659.683.1tf
Produce Markets
The prices quoted are paid for stock
gathered in the country, while deliverei
in Indianapclis the price is a cent higher.
Heavy breed hens, 18c: Leghorn breed
hens, 16c; Leghorn springers, 12c: old
stags, 13c; old cocks. 12c. Ducks, white. 5
lbs. and over. He; geese, full feathered,
all sizes. 8c; all guineas 1% lbs, and up,
15c; No. 1 strictly fresh eggs, loss off. 14c;
deliver in Indianapolis, 15c. Each full
case must weigh 55 lbs. gross, a deduction
of 10 cents a pound under 55 lbs. will be
made. No. 1 butter. 32%@33%c; No. 2
29%®30%c. Butterfat. 29c.
INCORPORATED INVESTORS
—an investment in common stocks—
Founded 1925 in Boston, Mats,
t
Prospectus, latest
quarterly report and other information available
at our office
Indianapolis Bond and Shaio
Corporation
129 E. Markat St, Indianapolis Rliay 455f
CANADA FACES
LARGE DEFICIT
IN NEW PERIOD
Dominion Has $140,000,-
000 Burden as Fiscal
Year Begins.
By United Prats
OTTAWA, Ont.. April I.—Faced
with a deficit approximating $140.-
000,000, Canada today began anew
fiscal year.
In spite of increased revenues
during the last year, this year's
deficit exceeded by more than $24.-
000,000 the deficit of the preceding
period.
The situation, it is explained, is
due to three factors: Abnormal re
quirements for relief, the $47,000,000
deficit of the state-owned Canadian
National Railway System and a
drain of $37,000,000 on the federal
treasury as the government's install
ment of financing embarrassed
Western provinces.
From new trade policies a freer
exchange of commodities is calcu
lated to stimulate business and in
dustry and increase revenues. New
legislation being introduced in par
liament contemplates the wiping out
of the Canadian National Railway
deficit.
Seek Railroad Co-operation
Under this plan anew board of
directors will be expected to ‘‘direct.’*
There is no idea of amalgamation
with the privately owned Canadian
Pacific Railways but it is believed
that millions of dollars can be
saved to both systems by effective
co-operation and by eliminating
unprofitable, competitive services.
Co-operation between the two lines
will be made compulsory.
As regards the relations between
the federal treasury and the West
ern provinces, to which, in the last
five years, the Dominion has loaned
$120,000,000, the declared intention
is to call for a “show down.” The
federal authority intends to pre
scribe definite regulation of pro
vincial borrowings if its credit is
to be used for the projected exten
sive refunding measures and other
wise.
If the provinces will not agree,
then the Dominion government pro
poses that they will be left to their
own resources, even to the extent of
being allowed to default.
STATE INSURANCE CO.
HOLDS OPEN HOUSE
Agents, Policyholders Invited' to
Attend Celebration.
Open house was being held today
at the Indianapolis office of the
State Automobile Insurance Asso
ciation in observance of the nine
teenth anniversary of the founding
of the company. Agents and policy
holders throughout the state have
been invited to attend the celebra
tion.
Current assets of the organization,
which is known as largest automo
bile insurer in Indiana, are report
ed at $3,845,008.37. During the last
year net assets increased by more
than $300,000. More than $2,199,000
of the total is in government bonds
and $1,325,700 in Federal Land Bank
bonds, Joint Stock Land Bank bonds,
school, road and municipal bonds
and cash on deposit.
Since organization of the asso
ciation in 1917, policyhoAdeis have
been paid more than $23,072,000 in
losses. The company employes more
than 100 people in its office. Officers
of the company are W. E. McKee,
president; Arthur Wolf, vice presi
dent; M. J. McKee, treasurer, and
Alex Corbett Jr., secretary.
Chicago Grain Futures
(By James E. Bennett & Cos.)
9:00 Prey.
Wheat— Hieh. Low. A. M. close.
May 95% .95 .957* .95’*
July 85% .847* .85% .85%
Sept 837* .837* .837* .837*
Corn—
May .6074 . 60 . 60 .60
July 59 5 * .597* .5974 .59%
Sept 59'/* .59 .597* .59
Oats—
May 25% .25% .25*4 .25%
July 25’* .2574 .25% .25’*
Sept 2674 .287* .26',* .26%
Rye-
May 5174 .5174 .51’* .51 %
July 51% .51% .517* .51%
Sept 51'* .517* .51% .51%
LOCAL CASH MARKET
City grain elevator.? are paying 88 cent#
for No. 2 soft wheat. Otner grades on
their merits. Cash com new No. 4 yellow
48 cents and oats 18 cents.
Bargain Week-End Trips
Each Week-End
CHICAGO $5.50
Leave on any train 10:20 a. m. Friday
to 1:55 a. m. Monday. Return limit
Monday. Reduced round trip Pullmaa
fares.
Next Saturday
CLEVELAND . . . $4.50
Leave 10:00 p. in. Return on any train
until 2:50 a. m. Monday. Coach service.
DETROIT $4.50
TOLEDO 4.00
SANDUSKY .... 4.00
Leave 10:00 p. in. Returning reach In
dianapolis not later than Monday
morning following. Coach aerrice.
‘Pay a visit to the Henry Ford exhibit
at historic Greenfield Village in Dear
born, near Detroit.
BIG FOUR ROUTE

The Indianapolis times. [volume], April 01, 1936, Final Home Edition, Second Section, Page PAGE 20, Image 20
About The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965

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The Indianapolis times. [volume], April 01, 1936, Final Home Edition, Second Section, Page PAGE 20, Image 20 About The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965

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The Indianapolis times. [volume], April 01, 1936, Final Home Edition, Second Section, Page PAGE 20, Image 20
About The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965