The Indianapolis times. [volume], May 26, 1936, Final Home Edition, Second Section, Page PAGE 16, Image 16

About The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965

Image provided by: Indiana State Library

                
Trends
Deflation Seen as
Alternative to
Inflation.
BY JOHN T. FLYNN
NEW YORK, May 26—For the
three years there has been
Increasing talk of Inflation. Plans
for Investment, speculation, ex
pansion nave been based, more or
less upon the theory that, in
some way or to some extent, th°re
was going to be at least credit in
flation of some kind. It Is a fair
assumption, since credit inflation
government
credit Inf 1 a
tion has al
ready begun.
But few,
a p p a r e ntly,
have thought
about the al
ternative de
flation. It is a
possibility not
to be lightly
dismissed.
At least this
much is cer
t a in we
have not defi
n i t e 1 y to
choose, as a
basis for our
future plans,
inflation or de-
Flynn
flation. And. If inflation, how will
It come about? And why?
For one thing, the inflation
thus far has been generated
wholly by government loans.
There has been literally no ex
pansion of private credit. Bank
loans, are lower, certainly no
higher, than a year ago and less
than in 1933. Long term issues
Involving new funds are negli
h
IF government borrowing were to
cease, the inflationary push
would cease—at least for the time
being. Now then, will government
borrowing cease?
Here we arc of course in the
domain of political prhphecy which
is a slippery terrain. But there are
some factors which we can see.
For one thing there is a rising tide
of resistance in Congress to gov
ernment borrowing. Many members
of Congress are frankly frightened
at the phenomenon. They can not
see where it may lead. While they
submit under pressure to schemes
like (he bonus and the Frazier-
Lemke farm redemption bill, they
are definitely afraid of these
things.
There is, therefore, going to be
some resistance to increasing
spending and a good deal of pres
sure to reduce it. In this, Congress
Is going to be in line with the
President who, I am told, is defi
nitely afraid of further spending.
What spending he does will be
done under pressure.
However, government spending
will not and can not be completely
abandoned as an emergency meas
ure. But it is entirely possible that
the President, when the election
is over, is going to set about trim
ming down expenditures and look
ing toward taxation to raise the
funds.
n n
IF the government adopts the
British plan—if it resorts to
taxation of any sort to raise the
funds which it will spend for re
covery—then the effect will be
definitely deflationary. Os this
there can be no doubt. And there
can be little doubt that this is
what Washington is thinking
about.
But it would be very foolish to
suppose that this is what is go
ing to happen. The voice of pro
test and demand may rise up from
farmers and workers and all sorts
of people clamoring for money.
And while Congress is afraid to
borrow much more, it is far more
afraid of the embattled farmers
and workers and subsidy hunters
of all sorts.
The result is on the lap of the
gods. But no one should put de
flation or at least attempted de
flation out of his mind as one of
the possible alternatives.
(Copyright. 1936. NEA Service, Inc.)
SHORT INTEREST GAINS
Times Special
NEW YORK, May 26.—Short in
terest on the New York Curb Ex
change as of April 30 amounted to
70,172 shares, compared with 55.000
shares on March 31, it was an
nounced today.
New Bond Issues
(By Lyons & Cos.)
Bid. Ask.
Asso Tel 4s '66 105% 106
B A- O 4%s ’39 ... 98*4 99%
Brooklyn Edison 3%s '66 ...101% 102'
Brooklyn Man Tr 4%s 66 .100
Cal Ore Pwr 4s '6O . 97' 97%
Cent Maine 4s '6O 102% 103'..
Cent 111 3%s ’66 . 105-1* 106
C A A and Rep Imp 3is '96 .101% 101 • 1 *
Chicago Sts 3%s 63 107'* 107 s *
Cinn Un Term 3%s ’7l 105- 106'*
Cleve Elec Ilium 3us ’65 110 '* 111
Clevc Tractor 5s ’45 105% 106%
Columbus Railways 4s '65 ... 105% 105%
Conn River PAL 3%s '6l .. .105 105'*
Consolidated Ed 3'*s 46 104 1 * 104* a
Consolidated Ed 3%s '56 103'* 103'*
Consumer Power 3%s ’7O ...104 104%
Cudahy Pkg 3%s '35 100% 101%
Cudahy Pkg 4s 'SO 102% 1(>!
Eastern Gas A- Elec W 4s '56 .. 92% 9.l'*
Edison Illus Bost \V 4s '56 ...107'* 1074*
lowa South Util 5%s 'SO 102’*
Kansas PL 4'as '65 108'. 108 s *
Jones & Laughlln 4'*s '6l . 99'* 99'*
Los Angeles O A E 4s '7O ...105% 105'*
Maine Cent 4s '45 99 7 * 100'*
Metro Ed 4s 65 107'* 108
Minn Gas A Lite 4s 'SO 103'* 104
Monon W Dr 4'as '6O 104% 105%
N Y Bdtson S'.s 65 101% 102'*
N Y Cent 3%s '46 97’* 98>,
Norway 4's '65 96 96'*
Ohio Edison 4s '65 105-'* 105%
Pacific Lite 4%s 45 105% 105 5 *
Pacific G A E 3'i s '6l 104% 104%
Penn R R 3%s '7O 101% 102'*
Penn Tel 4s '65 106
Pub Serv N H 3 s . s *6O 105'* 105'*
Railway A Lite 4>*s 55 108 110
Saguenay Pwr 4 ! *s ’B6 98% ...
San Diego O A E 4s ’65 . 109'*
So Cal Gas 4s '6O lOC* 104%
So Ca! Ed 3%s '45 105 105'*
So Western G A E 4s '6O 102% 103'*
Union Pae 3'as '7l 99% 99 s ,
U S Pipe A Fdv 3'as '46 109' 109'*
West Penn 3%s '66 106% 106"*
Wise O A E 3'as '66 102'* 103'*
Youngstown Sheet A T 4s '6l 98'a
Ygstwn Sht A T Deb 3’as 'sl 103'a 104
CHICAGO GRAIN FUTURES
(Bv United Press)
• Prev
Wheat— Hieh Low Close Close
Mav 96'a .90% ,90%a .95%
Juiv 85>, 83 s * .83', .85%
Seotember .. .85 .33!* 84 .85%
Corn —
Mav .64 V .63 .64% .63',
Julv 59', ,59% .59% ,59 s *
September .. .57 s * .57'* .57'* .57’,
Oat*—
Mav 24 23% .23% .33',
Julv 24'* .24'* .24'* .24’*
Seotember .. .35'a .25% .35 s , ,25Va
Rye ■
Mav S3', .52 s i ,52 s * 54',
Julv 53 'a .S2'a .52 s , .33 5 ,
Seotember .. .53 s * .53 .53!* .54',
Bariev—
Mav 37b .37
Lard—
Mav 10 10 995 9.95 10 05
Julv 10.10 9.95 9.95 10 05
Rush Jobs Make Us Smile
Hendren Printing
Company, Inc.
470 CENTURY BLDO. RI-8533.
PAGE 16
SOUTHERN CITY
FINDS JOBLESS
ARE INCREASING
Private Industry Accused
of Reducing Number
of Employes.
Bij Scrlpps-W award Kewspaper Alliance
KNOXVILLE, Tennn., May 26.
Private industry is making no dent
in Knoxville’s unemployed.
Relief workers say the number on
relief is growing.
Knoxville has approximately 23,-
000 families. Os them, 6000 are
listed as unemployed and 500 as un
employable. Os the unemployed,
4400 arc at work on WPA and other
government projects.
Clarence Holland, executive vice
president of the Chamber of Com
merce, said the increase in employ
ment has been most among clerical
i workers. TVA, with some 1200 em
ployed here, accounts for that.
Unemployables Increasing
| Miss Louise Dignall, head of the
city’s Family Welfare Bureau, which
cares for the unemployables, said
the situation is very serious and is
getting worse.
“The number of unemployables is
growing,” she said, ‘ because five or
six years of a starvation diet is tak
ing its toll. There is a marked de
pletion of physical reserves noticeable
in families served by this bureau.
Even if industry threw its doors
wide open, relief rolls for years
would be crowded with the physi
cally unfit.”
The National Re-employment
i Service reported there had been no
| decrease in its relief rolls since it
opened offices here more tnan a year
ago.
Since the scrapping of NR.A by the
Supreme Court many of the mer
cantile establishments have discon
tinued the short work hours which
during NRA furnished additional
jobs. The general policy now is to
work as few people as possible.
Local Securities
(By Indianapolis Bond and Share Corp.)
The following quotations do not repre
sent actual bids or offerings, but merely
indicate the approximate market level
based on buying and selling inquiries or
recent transactions.
BONDS
Home TAT Ft Wye s'as '55. ,103 d ' loi)*'
Home T A T Ft Wye 6s '43 . .103 106
Indpls Railways Inc 5s '67.. 65 68
Indianpls Water Cos 4! a s '4O 106 108
Indianpls Water Cos 5s '6O 105 107
Indianpls Water Cos 5s '7O ...105 107
Indianpls Water So 5%s '53 .103'/* 106
Indianpls Water Cos s'/as '54.103% 106
Interstate TAT 5%s '53 ... 95'/ 2 98
Kokomo Water Works 5s '56 .104 105
Morris 5 A 10 Stores 5s 'SO. . 100 103
Muncie Water Wks 5s '65 .. 103'/a
Noblesville H L A P 6VaS '47.. 101 103
Ohio Telephone Serv 6: '47 .. 991/2
Richmond Water Wks s '57..105 106'/a
Seymour Water Cos 5s '49 101 104
Terre Haute Tct A L 5s VI ..106 108
Terre Haute W Wks 5s '56 103 104
Terre Haute W Wks 6s ’49 .103 105
Tct Terml Cos 5s '57 75 78
STOCKS
Belt Rail AS Y Com 53!* 56
Belt. Rail A S Y Pfd fa ...... 52
Central Indiana P p’s 7s .... 16% 19%
Home Tel A Tel Ft V/yc 7- 52'a 54%
Hook Drugs Inc Com 171/* 19
Ind A Mich Elcc Cos pfd 7s .105 108
Indiana Genl Serv Cos 7s ... 98 100%
Indiana Hydro Elec Cos 7s ... 531/2 551-
Indianapolis Gas Cos Com .. 29 34
Indianapolis P A L ct pfd 6s . 88 91
Indianapolis P A L ct pfd 6%s 93 96
Indianpolis Water Cos pfd 5s .102'a 105
North Ind Pub Serv pfd 3'.is.. 66 69
North Ind Pub Serv pfd 6s .72 75
North Ind Pub Serv pfd 7s ... 81% 84%
Progrcs-; Laund Cos Com 10% 12
Pub Sew Cos of Ind pfd 6s ... 19 22
Pub Serv Cos of Ind pfd 7s 38'a 41%
Southern Ind G A Elec pfd 6s 99 102
Terre Haute Blec Cos 6s 92 94
Union Tile Cos Com 19 Vi 21 Vi I
Unlisted Stocks
(By Blyth A Cos.)
NEW YORK BANK STOCKS
_ , _ . E'id. Ask.
Bankers Trust 55 s , • 57 s ,
Central Hanover 109 111
, 37% 39
Guaranty 284 287%
Irving 14', 16%
Manuiacturers 45% 47%
National City 331/4 347/'
Cont, 111 Chicago 147’a 149%
First National Boston 44 453*
National Shawmut 26% 27'/,
FIRE INSUKANCE
Aetna Fire Ins 53 Vi 55%
American Ins of Newark 14% 16V*
Baltimore American 8 9%
City of New York 25Vi 27%
Federal Ins 45 49'*
Franklin Fire 30% 32%
Great American Ins 27% 29',
Hanover ,\ 38% 40%
Hartford 73Vi 753/*
Home Ins 34'* 36'*
Ins Cos of A 71 Vi 74%
National Fire 71 % 73 3
National Liberty 9% 11
North River 26 ',2 28%
Phoenix 87 89%
US Fire 51% 53%
Westchester Fire 34!* 36%
Produce Markets
The prices quoted are paid for stock
gathered in the country, while delivered
in Indianapolis the price is a cent higher
Heavy breed hens, 15c: Leghorn breed
hens. 13c; colored springers. 2 lbs. and
up. full feathered. 22c: Leghorn springers
I'.- pounds and up. full feathered. 18c:
bareback broilers, heavy tvpe, 13c: old
cocks. 8c: ducks, white, 5 tbs. and over
7c; geese, full feather, all sizes. sc: all
guineas, 1% lbs. and up. 15c; No. 1 strict
ly fresh eggs loss off, 16c; delivered in In
dianapolis. 17c. Each full case must weigh
55 lbs. gross; a deduction of 10 cents a
pound under 55 lbs. will be made. No. 1
butter. 29%®30%c; No. 2, 26%027VaC.
Butterfat. 245.
Other Livestock
(By United Press)
... M *>l „ 26. --Hogs—Receipts.
18.000, including 6500 direct: market ac
tivc: steady- to 10 cents higher than
Monday s average: mos’lv s®ioc un: ton,
310.10 on 200-lb. weights: 160 to 260 lbs..
S9 85*?10.05: 140 to 160 lbs.. 59.65*i10: 250
to 350 lbs., $9.75(0 10: 300 to 350 lbs.. 39.55
9 80: sows 8 60'H9: too. 39.10. Cattle-
Receipts. 7000: calves. 2500: steer trade
strong to shade higher: no dependable
outlet for kind scaling over 1500 ibs.: vear
lines and light steers, more active: earlv
too. weighty- bullocks. 38.85: few loads.
SH2S&B.7S: some held around 39: very
little under 37.25. it being a $7.50®8.50
market, with common and medium grade
relative high compared with good and
choice offerings: all she stock steady, bulls
closing weak at 36,50 down: vealers, 25®
50c lower at 310 down. Sheet) —Receipts.
2000: strong to 25 cents higher: advance
on soring lambs soots up more: local de
mand cood: choice native springers. 312.75
•'a 13 to packer: several loads 85 to 90-
ltv. clipped lambs. $10.256510.96: most
shorn ewes. $3.50654.
FORT WAYNE. Mav 26.—Hogs—Steady:
160 to 180 lbs. 310.15: 180 to 200 lbs..
$10.05: 200 to 225 lbs.. $9.95: 225 to 250
lbs.. $9.85: 250 to 275 lbs.. $9.75: 275 to
300 lbs . $9.60 : 300 to 350 lbs.. $9 35: 140
to 160 lbs.. $9 85: 130 to 140 lbs.. $9.70: 100
to 120 lbs.. $9.55. Roughs. $8.25: stags.
$6.50: calves. $9.50: lambs. sll.
LOCAL CASH MARKET
City grain elevators are paying 85 cents
for No. 2 soft wheat. Other grades on
their merits. Cash corn new No. 3 yellow
56 cents vid oats 18 cents.
BEMSS LETTER SERVICE
I —LI. 6122
/ H-X2O” rTO /
vC r r °lor—/
I ch piece - m I
MERCHANTS BANK BUILDING
MIMEOGRAPHING
Abreast of The Times on Finance
New York Stock Exchange Prices
(By Thomson A McKinnon)
Prev.
j Oil*— High. Low. Close. Close.
Amerada 93% 93% 931a 94
Ati Rfg 28% 28% 28% 28%
Barnsdall 16% 16 s * 16% 16 s ,
Consol Oil . 12% 11* 12 11%
Cont of Del .. 30'* 29% 30% 29 s *
Houston (new) . Bs,8 s , 8% 3% BV*
Mid Cont Pet ... 19 18 s , 13 s * 18%
Ohio Oil 13!, 13 13!, 13
Pet Corp 12% 12% 12% 12%
Phillips Pet 40', 4040% 41
Plymouth Oil .. 14% 14% 14% 14%
Pure Oil 18% 17% 17% 18
Seaboard Oil .. 31% 31 31 31%
Shell Un 17V* 16% 17% 17
Skelley OH 23 22% 22% 23%
Soc Vac 12% 12% 121, 12%
8O of Cal 37% 36% 374, 37V*
S O of Ind 33% 331, 33% 33%
S O of N J 59% 58% 59% 59V*
Texas Corp .... 33% 33V* 33% 34%
Tidewater Assn.. 15% 15 15!* 15%
Un Oil of Cal .. 22 21% 22 22
Steels—
Acme Steel 61 61 61 61
Am Roll Mills... 26% 26% 26% 26%
Beth Steel 52'% 51% 52% 52
Byers A M 18V* 171* 18V* 17%
Cruc Steel 32 311* 32 30
Inland Steel 92'% 90% 92'% 90%
Ludlum Steel .. 241, 24 24% 24
McKeesport Tin 106'% 106% 106% 106'%
Mid steel 39% 39% 39!* 39'/*
Natl Steel 61% 60% 61 60
Otis Steel 151, 14'% 15% 15
Rep Iron A Steel 19% 18% 19V* 18%
U S Pipe A Fdy 38% 37% 38% 37‘%
U S Steel . . . 60% 58% 60% 59
U S Steel pfd 125 1 a 124% 123V* 124%
Warren Bros 8% BVa 8% BV2
Warren P A Fdv 23!* 22% 23%
Youngs’wn S A T 56% 55 56% 55
1 Motors—
-1 Auburn 30% 29% 30!, 29'%
! Chrysler 97 % 95% 97% 95%
(Gen Motors ... 63% 62% 63% 62%
I Graham Mot ... 24, 2% 2% 2%
I Hudson 14% 14% 14 % 14 %
1 Mack Truck 30% 30 30% 29%
Nash 17'/4 16% 17 % 17
Packard 10% 10V* 10% 10%
Reo SV 5Va 814 5%
Studebaker .... 11% 11V* 11% 11%
Yellow Truck ... 18!* 17% 18V* 17%
Motor Access—
Bcndix 2814 27% 28'4 28
Bohn Alum 47% 47 47% 47
Borg Warner ... 73% 72'/* 73'.3 72%
Briggs 48% 47*4 48% 47V*
Buqq Mfg 15% 15V* 15% 15V*
Budd Wheel .. 10% 10% 101, 10V*
Eaton Mlg 32V, 32 32 31%
Elec Auto Lite. 36% 35% 36% 35%
Elec Stor Bat. 45% 45 45 45%
Greyhound B'. 58% 58 58V* 58%
Houdaille 24 V, 23% 24% 23%
Murray Body . 15% 15V* 15 s * 15%
Stew Warner .. 19’% 19 19% 19
Timken Roll 63% 62V* 63 s * 62'/*
Timken Det Axle 16% 16% 16% 16%
Mining—
Alaska Jun ... 13% 13% 13% 13'%
Am Metals .... 27% 27% 27% .
Am Smelt .... 77% 77 77% 77V*
Ca! A Hccla : . 10V, 10% 10% 10%
Anaconda . 34’,* 3318 34% 34
Ccrro De Pasco 55 54% 55 53%
Dome Mines .. 86% 85'% 55% 56%
Gt Nor Ore ... 17% 17 17% 17%
Howe Sound ... 51% 51% 51% 51
Ins Copper 10% 10% 10% 10%
Int Nickel 47'/, 46% 47 46%
Isl Creek Coal .. 26% 26% 26%
Kcnnecott Cop.. 38% 37% 38'/b 37%
Mclntyre iMne.. 43V, 42% 42% 43%
Park Utah 3% 3% 3% 3%
Phelps Dodge .. 34% 34V, 34% 34%
St Joe Lead .... 25 24% 25 24V*
U S Smelters . . . 89 % 88’/a 89 89 %
Vanadium 18% 18% 18% 18%
Amusements—
Crosley Radio .. 261', 26% 26% 26
Fox Theat 23% 23% 231* 24
Loews Inc 471* 47V* 471* 47%
Radio Corp 11% 10% 11% 11
Paramount 8% 8 8 8%
RKO SV, 5% 6 6Va
Warner Bros .. 9% 9% 93/* 9%
Tobaccos—
Am Tobacco “B” 92% 92V* 92% 92%
Ligg A Myers B 108 108 108 107
Lonllard 22% 22 22 22
Phillip Morris... 83% 821* 83% 82
Reynolds Tob B 5314 53 % 53% 53%
Rails—
Atchison 73 V* 70% 72% 70%
Atl Coast Lines. 26 24% 26 24%
B & O 18% 18 1814 17 V,
Can Pacific 12% 12V* 12% 12
Ch A Ohio 57% 56V, 57% 57
Chi A Gt W 1 % 1% 1% 1%
Chi & Gt W pfd s!a 5% 5% 5%
C M A St P . IV* 1% 1% 1%
C M A St P pfd 3% 3Vi .3% 3 1 /*
Chi N W 32% 2% 2%
Chi N W pfd ... 8 8 8 7Vi
Dela A Hud . 41 % 40 % 41% 40 Vi
Del Lac AW.. 17 16% 16% 16'/s
Erie 13'/* 13 13Vi 12%
Erie pfd . 19% 19 19% 18%
Gt Northern pfd 39% 36% 39% • 36%
111 Central 20% 19% 20% 19%
K C Sou 21 Vi 20 % 21V, 26 %
Lehigh Valley .. 10% 9% 10% 9%
Lou A Nash 67 65% 67 66
M K A T . ... 8% BV, 8% 8
MX&Tpfd . 23% 23% 23% 21V*
Mo Pac pfd 4% 4% 4% 4%
N Y Cent . 36% 34% 36 5 /, 341,
N Y New Haven 3% 3% 3% 3%
Norfolk A West 236 236 236 235%
Nor Pacific 29% 27% 29 5 /* 27%
Penn R R 30% 29V, 30% 30 Vi
Reading 41 40% 40% 42
Sou Pac 33% 31% 33% 32
Sou R R 16V* 15% 16 15%
Union Pac 126'* 123% 126% 124
Wabash 2% 2% 2% 2%
West Maryland . 9% 8% 9Vi 8%
Equipments—
Am Brake Shoe 44% 44 44 45
Am Car A Fdy 35% 34% 35% 35
Am Loco . 27% 27V* 27% 227%
Am Steel Fdy . 29% 28% 29% 28%
Bald Loco .... 3% 3% 3% 3%
Gen Am Tnk Cr 48 474% 43 47%
Gen Elec 37% 36% 37% 361*
Gen R R Slg . . 38 38 33 38
Pullman Inc . 47 46V* 46% 46%
West Air Br ... 39% 39 39 39%
Westingh Elec 117% 114% 117% 114V*
Unities—
Am A For Pwr 7% 7% 7% 7%
Am Power A Lit 11% 10% 11% 10%
A TAT .. ■ 166% 162% 165% 161%
Am Wat Wks . 22% 21% 22% 21%
Col Gas A Elec 19% 19 19% 18%
Comm A Sou .. 3% 2% 3Vi 2%
Consol Gas .33 31% 32% 31%
Elec Pwr A Lit. 15% 15% 15% lb%
Int Hydro Elec 3% 33% 3
Interboro R T . 14V, 14 14 14
Int T A T .. 14V* 13% 14Vi 13%
Lou G A E ‘'A” 22 21% 22 21%
Nat Fwr A Lt 10% li% 101* 10%
North Amer ... 27 25% 28V, 25%
Pac G A E 36 35V, 36 35
Peoples Gas .. 43% 42 43% 42%
Pub Gerv N J.. 44% 43% 44% 43%
So Cal Edison .. 26'i 26% 26Vi 26
Std Gas 7% 6% 7% 6%
Stone A Webster 18% 17% 17% 17%
United Corp .. 6% 6'i 6% 6%
Un Gas Imp .. 15% 15% 18% 15%
Ut Pwr A Lt A 5% 4', SV, 5%
Western Union 81% 791, 81 Vs 80 Vi
Rubbers—
Firestone 28% 27% 28% 28Vi
Goodrich 20% 19% 20% 20
Goodyear 25% 25 25 25%
U S Rubber . 30% 30 30% 30
U S Rubber pfd 74 73% 74 72%
Miscellaneous—
Allis Chalmers .. 45% 441* 45% 44%
Amer Can 129 5 , ;29 129 Vi 129%
Am Mach A Fdy 24 22% 24 22%
Anchor Cap .. 20% 20 20% 20
Brklyn Man Tr.. 48% 46% 48 47%
Burroughs Add . 26% 26% 26% 26%
J I Case 156% 157 156% 157%
Conti Can . 75% 74% 75% 74 5 ,
Caterpillar Tract 74% 73V, 74% 73%
Crown Cork 53% 52 52% 53%
Curtis Pub 18% 18Vi 18% 18%
Deere A Cos . 77% 77 77% 77%
Eastman Kodak 161 161 161 161
Foster Wheeler.. 27% 27% 27% 27%
Gillette 15% 15% 15% 15%
Glidden .. . . 45V, 45% 45V, 45%
Int Bus Mach ..168 168 168 166%
Inter Harv .. 87 85% 86% 85%
Fit as a Fiddle
• • . and ready for work. Take a TROLLEY down to
the office. You'll arrive on time, and you'll look and fael
at crisp and cool as when you started from home.
Indianapolis Railways
TU t 'L>I)AY, MAY 26, 1936 _
1 Natl Cash Reg . 23% 22% 23% 23
Owens Bottle ..144 s * 144% 144 s * 1d2%
jßem Rand .... 20 s , 19% 20% 20V,
Unaerwood E 84% 84!* 84% 85
! Worthingtn Pmo 28 28 28 28
Foods—
iAm Sugar 56’ * 56 56 56 ,
i Armour 5 4’, 4', 4'i
Armour S'", Dfd . 72% 72 72 s , 72
Beatrice Crmry. 23 22 23 21%
Borden Prod .... 28% 27% 28% 2!',
Cal Packing . . 31 s * 31% 31% 32 *
Canada D G Ale 12V, 12% 121, 12%
Cola Cola .... 98 93 98 92V,
Cont Bak ‘A'. 14% 14 14% 14
Corn Prod .. 78% 77 78% 77%
Crm of Wheat 35% 35'* 35% 30%
Cuban Am Sugar 11 Vs 10% 11 JO%
Gen Baking 11% 11 11 11%
Gen Foods 38', 38% 38', 38
.Gold Dust 16% 15;-* 16% 15%
G W Sugar 35% 35% 30% 35V*
Hprshcv • • • 73 73 <3
Natl Biscuit .... 35% 34% 35% 34%
Natl D Prod ... 23% 23 s , 23% 23%
Purity Bak 10% 10% 10% 10V*
S Porto Rico Sug 27', 27% 27% 28
Std Brands 15% 15% 15% 15%
Un Biscuit 27V, 26’, 27% 26%
United Fruit .. 77% 77 77% 76%
Ward Bak B". . 2V* 2Vi 2% 2%
Wrigley 66Va 66 6 6 66!a
Retail Stores —
Allied Stores .... 9% 9% 9% 9%
Asad Dry Goods . 16 15% 16 15%
First Natl Stores 46 45 45 44%
Gimbel Bros ... 11 10V* U 10%
Jewel Tea 70% 70V, 76% 70
Kresge S S 21% 21 21 21
Kroger Groc ... 22% 221, 22% 22%
Macy R H ... 42Va 42 V* 42 Vi 42%
McCrory St ... 13 12% 13 12%
McLellan St ... 12% 12% 12% 12%
Marshall Field 15% 15% 15 s , 16%
May Dept St .. 47% 46% 47% 461*
Mont Ward . . 43% 42% 43% 43
i Natl Tea 8% -8% 8% 3%
Penny J C 79% 79 79% 79 %
i Safeway St .32 31 31 31 %
| Sears Roebuck 72 s * 72% 221* 72
i Woolworth 50% 49% 50 50%
Aviation—
Aviation Corp . 5Vi 5% 5% 5%
Boeing Aircraft. 19% 19% 19% 19%
Curtiss Wright 6% 6V 6% 6%
Curtiss Wright A 15% 15 15V* 15%
N. Y. Bonds
DOMESTIC
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Close Close
Alleg Corp 5s ’44 91% 93
Alleg Corp 5s ’49 88 85%
Am fgrn Pow 5s 2030 72Vi 72
Am Tel A Tel 5/as ’43 113% 113%
Am Tel A Tel 5s ’65 114!* 113%
Arm A Cos (Del) 4s ’55 97% 97'/,
Atl Coast Line 4s ’52 97 97
Atl Coast Line 4Vis ’64 78% 78%
Atch Top A S Fe 4%s ’43 . 11l 111%
Am Wat Wks 5s ’44 102.3 102.4
Am Rolling Mills 4%s ’45 .. 113% 112%
Balt A Ohio 6s ’95 95 94%
Balt A Ohio 4Vis ’6O .. 71% 70
Buff Roch A Pitt 4'/as '57 .. 77 76
Beth Steel 4%s ’6O 105'% 105%
Chi Milw A St P 5s '75 .... 19% 19%
Chi Milw A St P 5s 2000 ... 7% 7
Cleve Un Term 5s '73 107 107%
Cleve Un Term 4Vis ‘77 102 V, 102%
Col Gas 5s May ’52 104% 104%
Col Gas 5s April '52 105 105%
Col Gas 5s '6l 104 104 s /e
Can Pac Perp 4s 91% 91%
Cent Fi.c 5s ’6O 99% 99%
2ig Four 4Vis '77 93V* 93%
Colorado ASo 4!is ’BO 72% 70
Chi & West Ind 4s '52 103', 8 103%
Chi A West Ind 5%s '62 ..106% 106!%
Chi A Nor West 4% '49 12'% 111,
Con Gas 5s '57 103.24 103.18
Chesa Corp 5s '47 129% 127%
Del A Huds 4s '43 82'/, 83
New York Dock 4s 'sl 66 65!i
N Y Dock 5s ’3B 65 65’
Erie 5s '75 76% 753%
Erie 5s '67 77 76%
Rr? w a M e s ' /2 § ’fL 105 100
£ Or J£ ern I?/ 38 ,„„ 100.17 100.18
Grt Northern 4'/as '76 100% 100%
Grt Northern 4%s '77 100 100
Gen Stl Cast WW 5%s '49 .... 81% 81%
Hud A Manhat Ref 5s ’57 ... 79Vi 80
111 Cent 4?is '66 73 71%
111 Cent Jt 4Vis ’63 78% 77V,
111 Cent 5s '63 82 % 80%
Interlake CAI 5s ’sl 92% 92%
Interntl Hv Elec 6s '44 40% 401*
Imerntl Tel A Tel 4'/ 2 s ’39 91% 91%
Interntl Te! A Tel 5s '55 84% 84
P Lorillard 7s '44 132 132
McKess A Rob sVis 'SO 104 103%
Natl Dairv 5%s '4B 102.25 102.26
Natl Steel 4s '65 106% 106%
Nickel Plate 4%s '7B 85 84%
Nickel Plate 5%s '74 94% 94%
N Y Cent 5s 2013 92% 92 Vs
N Y Cent 4Vis 2013 (old) .... 85V, 85!2
Nor Amer Cos 5s '6l 105% 706%
Nor Pac 3s 2047 81% 81%
Nor Pac 4Vis 2047 101% 100%
Nor Pac 6s 2047 110% 110%
Nor States Pow 5s '4l 104'% 1044
Penn Rv 4%s 'B4 109 Vi 109 Vi
Pennn Rv 4%s 'Bl 109 109,,
Pen Rv 4Vis '7O 104 104%
Pac G A E 5s ’42 102% 102%
Portland Gen El 4'/ 2 s '6O 72% 71%
Para Publix 6s '55 90 90%
Penn PAL 4%s ’Bl
Postal Tel A Cab 5s '53 30% 30
Rem Rands 4%s 56 108% 108%
Shell Union Oil 3%s 'sl ...... 97 96%
Sou Pac 4'is ’6B 92 91%
Sou Pac 4Vis ’Bl 91% 91%
Sou Pac 4%s '69 91% 91 %
Sou Pac 4s '49 93 93V*
Sou Rail 4s ’56 61V, 59%
Sou Rail' 6s '56 78 75%
Sou Rail sVis '56 81% 79%
Sharon Stl Hoop sVis ’4B 107'/* 106 s *
Texas Pac 5s ’79 104% 105%
Texas Pac 5s ’77 105% 105
Union Pac 4s ’47 114 114
United Drug 5s '53 100% 100%
U S Rubber 5s ’47 105% 106
NY NH A Hart 5s ’4B 29% 30
NY NH A Hart 4%s ’67 31% 30'/*
Warner Bros 6s '39 92 92
Western Mary sVis '77 107% 107
Westren Mary 4s '52 100% 100%
Youngstown S A T 5s ’7B 105.14 105.13
FOREIGN
Argentina A6s '57 99% 98%
Brazil 8s ’4l 34 33%
Canadian Govt 4s ’6O 108% 108V*
Denmark sVis '55 101V* 101%
French 7s '49 175 174%
German sVis ’65 25% 25%
Italy 7s 'sl 75 74%
Japan 6%s '54 98 97%
Poland 7s ’47 85% 85%
Rome 6Vis ’52 64 63V,
Yokohama 6s '6l 82% 82%
(Reprinted From Late Times Yesterday)
DAILY BOND INDEX
20 30 20 60
Inds. Rails. U f i’s. Bonds.
Today 90.5 91.2 105.2 95.6
Saturday 90.6 91.2 105.0 95.6
Week ago 90.7 91.4 105.2 95.7
Month ago ... 91.0 90.7 104.6 95.4
Year ago 87.3 77.0 97.4 87.2
1936 high 93.4 95.6 105.5 97.9
1936 low 90.0 84.7 103.5 93.3
(Copyright. 1936, bv Standard Statistics)
U. S. GOVERNMENT BONDS
(By Abbott. Proctor & Paine)
Treasurys
Prev.
Close Close
4%s 1947-52 118.2 118.1
4s 1944-54 113.5 113.5
3%s 1940-43 108.23 108.25
3%s 1943-47 108.18 108.20
3%s 1941-43 109.4 109.6
3 V*s 1943-45 108.4 108.4
3%s 1941 109 109.2
3%s 1944-46 107.27 107.28
3 Vis '1946-49 106.10 106.10
3%s 1949-55 106.8 106.9
3s 1951-55 104.24 104.25
3s 1946-48 105.13 105.16
2%s 1945-47 103.18 193.24
2%s 1951 102.6 102.9
Home Owners Loan Corp.
2%s 1949 101.21 101.25
3s 1952 102 31 103.1
Federal Farm Mortgage C>rp.
3 Vis 1964 104.14 104.16
3s 1949 103.9 103.11
3s 1942 103.30 103.31
Douglas Air ... 58 56 % 58 57
Nor Am Av .... 8% 7’, 8% 77,
Sperry Corp 7 s ,
Utd Aircraft new 22 s * 22% 22 s * 22%
Chemicals—
Air Reduction... 60% 59 60 % 59
Allied Chem 193 190 193 189
Am Com Alcohol 23 22% 22Vi 23V,
Col Carbon 124 119 s , 124 117%
Com Solvents ... 17% 16% 16 s , 17%
Du Pont 143 s * 142 143% 144%
Freeport Tex ... 28% 28'4 28% 28
Liquid Carb 36 35% 36 35'/,
Math Alkali ... 30 29% 30 29%
Monsanto Chem. 82% 81% 82% 82%
Natl Dis (new) 29% 29% 29% 29%
Schenlev Dist 431, 43% 43% 43 s ,
Texas Gulf Sulph 36 35'/, 36 35%
Union Carbide 84 821* 84 82 s *
US Indu Alcohol 38% 37 38% 381,
Drugs—
Bristol Myers... 42% 42Vi 42Vi 43
Coty Inc 5% 5 5 5
Lambert 21 21 21 2014
Lehn A Fink ... 14 s 4 14 s * 14% 14%
Sterling Prod .. 68'/* 68',* 68V* 68V*
Un Drug (new).. 14 14 14 13
Financial—
Adams Exd ... 11% 11 11% 11
Allegheny Corp.. 32% 3 2Va
Am Int Corp 10% 9', 10% 10
Chesa Corp 64 s * 64 s , 64 s * 64 5 ,
Transamerica .. 12 s , 12% 12% 12 s ,
Tr Conti Corp.,. 8% 8V 8% B s /,
Building—
Am Radiator ... 20 19 s * 19% 19%
Gen Asphalt ... 26% 26% 261, ?4%
Holland Furnace 35 34% 35 34%
Int Cement . 46V, 46 5 , 47% 46 5 ,
Johns Manville . 96 94 s * 96 94 s ,
Libby Owens Gls 55 53 s * 54% 54%
Otis Elev 2714 27 27% 27V*
U S Gypsum ... 92 91V, 92 94%
Ulen Cons 4% 41* 414 5
Household—
Col Pal Peet ... 14% 14 14% 14
Congoleum 35 34% 35 35
Kelvinator . . . 20% 20 20% 20
Mohawk Carnet. 21% 2114 211* 21 %
Proc A Gamble 41 % 41 41 40%
Servel Inc 21% 21% 21% 21V*
Simmons Bed.. 271, 27 27% 27
Textiles—
Celanese Corp . 22% 22% 22% 22%
Collins Aikman . 44V, 43V* 44V, 43%
Gotham Hose.. 9% 9V, 9% 9%
Indus Rayon ... 27 s * 27V* 27% 27%
Kayser Julius.. 28 28 28 27%
Chicago Stocks
(By Atkins, Hamill A Gates)
Noon Prev.
Chic. Close
J. D. Adams 16%
Advance Aluminum 714 71/,
| Associated Investors 401* 40%
, Bastian-Blessing 12 12%
Berghoff 12% 12%
j Butler Brothers 8% 8%
Cities Service 41/* 414
Commonwealth Edison 97% 97 V*
Crane 28
Dixie-Vortex Cup 191/*
Electric Household 50 50
General Household 8% 8%
Great LaJtes Dredge 28 V* 28
Jarvis Mfg 191/, 19
National Gypsum 50 50
Noblitt-Sparks 26%
Northwest Bancorporation ... 9% 9
Swift International 29% 29%
Zenith 20% 20'
New York Curb
(By Atkins, Hamill A Gates)
Ip. m. Prev.
... _ N. Y. close.
Aluminum Cos. of America ....119 118%
Am Cyanamid iB) 351, 35%
Amer Gas and Electric 37 36%
Amer Superpower 2Vi 2Vi
Ark Natural Gas (A) 6 5%
Atlas C’orp 12 12%
Elec Bond and Share 19% 191,
Fisk Rubber 5% 53,
Ford Motors Canada (A) 22 21%
Glen Alden (1) . ....li 14
Greenfield Tap and Die Corp.. 6%
Humble Oil and Refining Cos .. 59 60
Hu.vler’s of Del pfd 17 1814
Hygrade Food 4 41,
Imperial Oil of Canada 21% 21%
Irving Air Chute 20% .
Lake Shore Mines 58% 56%
Mueller Brass Cos .' 30 V* 30%
Natl Bellas Hess, Inc 2% 2%
Niagara Hudson Pwr 9V, 8%
Pan-American Airways 56% 50%
Pannroad Corp 4'/, 41/.
Root Petroleum 15% 15%
Segal Lock 2% 3'
Standard Oil of Ohio 28' 28
Stutz Motor Car of Amer 214 3
Technicolor. Inc 30 29 7 /,
Wayne Pump 3}3/, 30'
Investment Trusts
tßv Thomas D. Sheerin A Cos.)
Asked
Administered Fund 2nd SIO.OB sl7 11
Affiliated Fund, Inc. 1.79 1 97
American General Eauities.. 1.01 103
"American Business Snares . 1.10 1.20
BuUock Fund Ltd li.lo 18.63
Broad Street Investing 28.08 30.57
Century Snares Irust 20.63 27,7 b
collateral Tr. Shares “A”.. 6.33
Corp AA’ or ‘Accum’ (mod) 3.24 ".28
Corp ‘AA’ or ‘‘Acc’ (unmod.) 2,t0 2.64
Corporate Tr Snares (oris.). 2.70 2.74
Diversified Tr Snares 'B’... 10.10 10.20
Diversified Tr snares ‘C’... 4.36 4.40
Diversified Tr Snares ‘D’... 6.61 6.71
Dividend Shares. Inc 1.57 J.. 71
General Investors Trust 5.73 6.30
Incorporated Investors 21.20 22.99
Investors Fund Amer 1.01 1.11
Market St. Investment Corn.. 29.27 30.81
Maryland Fund , 18.40 19,94
Massachusetts Investors 25.00 26.24
Nation-Wide Sec. Cos, "B” 4.18
Nation-Wide Voting 1.70 1.84
North Amer Tr. Shs. 1955 ... 3.26 3.30
North Amer Tr. Shs. 1956 ... 3.22 3.26
North Amer. Tr. Shs. (Orig) 2.0
Quarterly Income Shares ... 1.52 1.67
Selected Amer. Shares. Inc... 1.51 1.64
Selected Amer. Shares (Orie.) 3.54
Selected Cumulative Shares . 9.20
Selected Income Shares 4.79 4.89
State St. Investment Corn. 96.00 101.00
Super-Coro, of America "AA” 2.76 2.79
Super-Corn, of America "BB” 2.79 2.83
Super-Corn, of America “A” 4.03 4.11
Super-Corn, of America "B”. 4.25 4.30
Super-Coro of America ”C”. 7.94 ■■
Supervised Shares. Inc (Del.) 12.85 14.04
Trus Standard Oilshares ‘A’. 6.83 6.93
Trus. Standard Oilshares "B” 590 6.05
Trus. Standard Inv 'C” . . 2.89 2.92
Trus. Stndrd Investment ''D” 2.82 2.86
United Standard Oilfuds 116 1.28
Uselps "A” 18.30 18.6a
Uselns "B” 2.76
UselDs Voting L®' •••
"Ex-Dividend.
Money and Exchange
TREASURY STATEMENT
(By United Press)
WASHINGTON, May 26.—Government
expenses and receipts for the current
fiscal year to may 23. as compared with
a year ago:
This Year. Last Year.
Expenses $6,439,334,857 $6,379,205,408
Receipts 3,450,662,587 3,199.498.760
Deficit 2.888,804,385 3,082,995,245
Cash Balance. 2.380,086.286 1,645.524,418
Public Debt . 31.592.138,144 28,619,794.814
Gold Reserve. 10.378,519,819 8,761,947,077
Customs 349,070.059 307,922,523
DIVIDEND IS DECLARED
Times Special
NEW YORK, May 26.—Directors
of the Union Pacific Railroad Cos.
have declared the regular dividend
of $1.50 a share on common stock,
payable July 1 to stock of record
June 1.
Thomson & McKinnon
NEW YORK members
CHICAGO New York Stock Exchange.
TORONTO II New York Curb Exchange
BOSTON * orfc Cotton Exc & aD &e.
CfiUTU DPWn m. Kew lork Coffe ® and Sugar Exchange.
1 r * New Orleans Cotton Exchange.
FT. WAYNE Chicago Stock Exchange.
EVANSVILLE Chicago Hoard of Trade.
. Winnipeg Grain Exchange.
Indianapolis Office And other leading Exehangea.
200-214 Circle Tower LI. 5501
-WE BUY. SELL.
and gladly furnish quotations on:
Bonds of the United States Government,
Its Territories and Insular Possessions '
Home Owners* Loan and Land Bank Bonds
Indiana Municipal and Corporate Securities
Central Market Securities
Indianapolis Bond and Share Corp.
129 EAST MARKET STREET
PORKER VALUES
REACT SHARPLY
AT STOCKYARDS
Weights Above 160 Pounds
Are Generally 25
Cents Lower.
Porker prices reacted sharply in
early trading today at the Indian
apolis Union Stockyards, mostly as
a result of extremely heavy ship
ments. Weights ranging upward
from 160 pounds were largely 25
cents lower than yesterday’s strong
close.
Few classes, however, including
lights and slaughter pigs, remained
mostly steady at previous levels. Re
ceipts which were estimated at 7500
—the largest supply in several
weeks—offset the recent strong de
mand and were largely responsible
for the erratic movement. Hold
overs numbered 126.
Top Drops to $10.20
The top paid for good and choice
weights was forced dow’n to $10.20,
compared with $10.40 yesterday.
The general bulk of 160 to 225
pounds cashed in at $10.05 to $10.15.
Medium classes, scaling 225 to 260
pounds, brought $9.85 to $10.05. Ex
treme heavies, from 300 to 350
pounds, sold at $9.45 to $9.55. Pack
ing sows held at $8.25 to $8.75.
Trading showed little change in
the cattle market. Early steer sales
ranged from $8 to $8 25, and heifers
from $8 to $8.35. Few of the latter
grades ranged upward to $8.40.
Beef cows sold at $5.25 to $6.25. Re
ceipts numbered 2300.
Faced with heavy supplies, the
veal market was sharply 50 cents
lower than yesterday's close. The
bulk of good and choice sold at $9
to $9.50. Receipts were 1000.
With only a few classes available,
the lamb market showed only a
slight change. Few spring lambs
sold at $9 to $12.50, while a single
load of clipped kinds brought $10.50.
Receipts were 700.
HOGS
May Bulk. Top. Receipts.
20. $ 9.80® 9.00 $ 9.90 5500
21. 10.05® 10.20 10.20 4500
22. 10.00fi 10.10 10.10 6000
23. 10.15@10.25 10.25 1000
25. 10.30® 10.40 10.40 6000
26. 10.05@10.15 10.20 7500
Light lights.
(140-160) Good and choice. $ 9.80@10.20
Medium 9.15@10.00
(160-180) Good and choice.. 9.90®10.15
Medium 9.55@ 9.90
(180-200) Good and choice.. 9.95(10.20
Medium 9.65@10.00
(200-220) Good and choice.. 9.95@10.15
(220-250) Good and choice.. 9.35@10.05
Heavyweights.
(250-290) Good and choice . 9.65@ 9.85
(290-350) Good and choice . 9.35@ 9.65
Packing Sows.
(275-350) Good 8.40@ 9.00
(350-425) Good 8.25® 8.50
(425-450) Good 8.15® 8.40
(275-350) Medium 7.65® 8.40
Slaughter Pigs.
(100-140) Good and choice.. 8.75@ J.SO
Medium B.lo® 9.30
CATTLE v
—Receipts, 2300
(550-900) Choice $8.50@ 9.00
Good 7.75@ 8.50
Medium 6.75@ 7.75
Common 6.00® 6.75
(900-1100) Choice 8.50® 9.00
Good 7.75® 8.50
Medium 6.75® 7.75
Common 6.00® 6.75
(1100-1300) Choice 8 25® 9.00
Good 7.50@ 8.50
Medium 6.75® 7.50
(1300-1500) Choice 8,25® 9.00
Good 7.50® 8.25
Heifers
(550-750) Choice 8.25® 8.75
Good 7.75® 8.25
Common and medium 6.25® 7.75
(750-900) Good and choice .... 7.50® 8.40
Common and medium 6.25® 7.50
Cows
Good e.oo@ 6.50
Common and medium 5.25® 6 00
Low cutter and cutter 4.00® 5.25
Bulls, good 6 26®. 6.75
Cutter, com, and med. bulk 5.50® 6.60
VEALERS
—Receipts, 1000—
Good and choice $ a.so® 9.50
Medium T.50,a 8.50
Cull and common 5.00® 7.50
Calves
(250-500) Good and choice.... 6.00® 875
Common and medium 4.50® 6.00
Feed and Stocker Cattle
(500-800) Good and choice.... 7.00® 825
Common and medium 5.75® 7.25
(800-1050) Good and choice... 7.00® 825
Common and medium 5.75® 7.25
Cows
£ ood 5.00® 5.50
Common and medium 4.50® 5.00
SHEEP AND LAMBS
—Receipts, 700—
Lambs, 90 lbs. down; good
and choice .$10.50011.00
and 10.00@i0.75
Medium 8.75(3.0.00
Ewe°s mmon 7 ' 25 ® B ' so
(90-170) Good and choice... 3.50# 400
Common and medium 2.50® 3 50
(Sheep and lamb quotations on clipped
attention
FRIENDS first]
MORTGAGE LOANS
On Well Located Modern
Indianapolis Property.
4 No Commission!
Weekly Paymentsl
HOME BUILDERS
Savings and Loan Association
1000 Lemcke Bldg.
Pay Rolls and Employment Expand
Retail pay rolls in Neiv York state, were increased
by i.l per cent, and employment 4.3 per cent duriny
April over March, according to a survey of 14,000 retail
firms released today by Elmer F. Andrews, industrial
commissioner.
BANKERS’ TREASURER
fj| v
.■§l§
Election of Theodore Reininga,
vice president and cashier of the
People's National Bank and Trust
Cos. of Washington, Ind., to serve
as treasurer of the Indiana Bank
ers Association for the ensuing
year was made at the closing of
the fortieth annual convention
here last week. He succeeds E. E.
Long, cashier of the Clark County
State Bank of Jeffersonville.
CONTROL LAW
HITRYBROKER
SEC Opens Investigation of
New Yorker’s Alleged
Market Rigging.
By United Press
WASHINGTON, May 26.—Charges
that the Securities Exchange Act of
1934 is unconstitutional have been
made by attorneys for Charles C.
Wright, New York broker charged
with market rigging.
The SEC inquiry opened before
Edward C. Johnson, an officer of
the commission. Isidore Kresel, at
torney for the accused broker, asked
for dismissal on the grounds that
the SEC act is unconstitutional.
Wright is threatened with sus
pension or expulsion from five of
the nation’s major exchanges of
which he is a member.
In its order to show cause why
Wright should not have his trading
privileges, the commission said it
had “reason to believe that during
the period beginning on or about
June 1, 1935, and continuing
through February, Wright, for the
purpose of creating a false and mis
leading appearance of active trad
ing” in Kinner Airplane and Motor
Corp. common stock, “used the
mails, divers means and instrumen
talities of interstate commerce, to
enter divers quarters for the pur
chase of said securities, with knowl
edge that orders of substantially the
same size, at substantially the same
time, and at substantnally the same
price,” would be entered.
The stock is registered on the Los
Angeles Stock Exchange under the
1934 act.
COAL OUTPUT DROPS
Indiana Produced 240,000 Tons for
Week Ended May 9.
Indiana produced 240,000 tons of
coal during the week ended May 9,
the United States Bureau of Mines
reported today.
Production for the previous week
was 244,000 tons and for the same
period last year it was 245,000 tons.
The state produced 3 per cent of the
nation’s supply.
V]
Home Building
Costs are Increasing
Judged by the recent
prices brought on homes
sold, tax valuation and in
creased rentals, the aver
age price on Indianapolis
real estate is definitely
rising.
According to a recent Ameri
can Legion survey more than
$1,500,000 of the Veterans’
Bonus money will probably be
spent in Indianapolis for the
purchase of homes and real
estate. This increased demand
plus improving business con
ditions is expected to result in
higher prices.
Buy the home you want while
prices are still low . . . You’ll
find many attractive offerings
in Times Want Ads . . . Real
Estate for Sale. Turn to the
Want Ad pages and check
them over NOW.
The Indianapolis Times
9
SILVER POLICY
REPEAL URGED
BY ECONOMISTS
Group Sees No Benefits
From U. S. Purchases
of Metal.
By United Press
NEW YORK, May 26.—Abandon
ment of the Administration silver
purchase program as “both waste
ful and harmful” has been recom
mended by 82 members of the Econ
omists’ National Committee oa
Monetary Policy.
The committee, in a recom
mendation to Congress, held that
the program was damaging inter
national trade and urged the prompt
repeal of the broad silver remoneti
zation powers delegated to President
Roosevelt.
“The consequences of the Admin
istration's silver program, in both
its phases—that is, under the Lon
don agreement and the silver pur
chasing act—fulfill the predictions
made by their committee two years
ago,” the statement said.
Calls Program Wasteful
“The American silver policy, by
adding to the uncertainty as to the
value of the dollar and thereby
limiting prospects for currency sta
bilization and the benefits which
would accrue therefrom, has been
damaging to international trade and
finance. Neither the economic nor
the monetary situation in th©
United States has been benefited by
this silver purchase policy.
“After acquiring approximately
853,000.000 ounces of silver las ol
Jan. 16, 1936) at artificially high
prices, thus diluting our currency
base with a cheap metal, our gov
ernment is hardly any nearer than
before to its goal of a l-to-3 ratio be-*
tween the monetary silver and gold.
“It should be amply clear by this
time that the program not only
serves no useful purpose, but. on the
contrary, is both wasteful and
harmful.”
On Commission Row
(Quotations below subject to change ar*
average wholesale prices being offered to
buyers by local commission dealers.)
FRUIT —Strawberries: Tennessee, 24-qt.
crate, 54.25. Limes—Mexican, carton, 20c.
Bananas—Seven hands, pound s!c. Ap
ples—Winesaps (fancy baskets), $1.75.
Lemons—Sunkist t3oos't, $8.50. Grapefruit
—lmperial Valley. $3.50. Pineapples—CuV
bans (18-30s). crates, $3.50. Grapes S.
America, 20-lb. box. $2. Honey Dews—S.
Vegetables— Beans, green, round
stringless (hampers). $2.40. Beets—Mis
sissippi. bu„ $1.35. Carrots—California (6-
doz. crate). $3. Cauliflower. California
(12s crate). $2. Celery—Florida washed
and trimmed (doz.), 45@85c; Florida t4s,
Bs, 10s crate). $3.50. Cucumbers—Hot
house (doz.). 75c- (two doz., box). $1.65.
Corn—s doz. crate, $2.75. Egg Plant—
Florida (doz.), $1.50. Kale—Virginia <bu.%
65c. Lettuce—lceberg. California (best 6s,
ss). $3.50; home grown leaf (15-lb. basket),
65c. Peppers—Mangoes (crate). $3.50-
peck basket. $1.15: doz.. 40c. Mint—Hot
house (doz.). 60c. Mushrooms—Pound,
30c. Mustard—Texas, half crate. $1.40.
Onions—Texas Bermuda yellow'. 50-lb. bag,
$1.15. Parsley—Southern (long bunches,
doz.), 75c. Parsnips—Homegrown, washed,
bushel, 90c; half-bushel. 50c. Peas—Flor
ida, hamper, $1.75. Potatoes—Michigan'
Round Whites. 100-lb. bag, $2.40: R R.
Early Ohio, 100-lb. bag. $2.50; R. R Tri
umph, 100-lb. bag. $2.60. Sweet Potatoes—
Tennessee Nancy Halls hampers. $1 35,
Radishes—Homegrown buttons, doz.. 25c:
white, 25c. Rhubarb—Hothouse, doz., 25c
Rutabagas—Northern. 50-lb. bag. $1.50.
bage—Doz.. 45c. Turnips—New built
sl-25. Tomatoes—Repacked,
$325' b ° X ' 81 ' 35: Florida - or >8- (6-6) lug,
.< •->. Aluminum
POSTURE
CHAIRS
Employee Comfort
JL * 8 good business!
w. C. BRASS
and Associates
* w 134 s. M er . Ri. 9727