davidaulloa/AmericanStories huggingface dataset:
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-07-24
STOCK MARKET
FIRMS; VOLUME
AGAIN DECLINES
TickerS Barely Operate as
Issues Improve; Rails
Lead Advance.
BY MAX BUCKINGHAM
Inited Prev stan CORES pondent

NEW YORK. July 24.-The stock
market had firm tone today but
trading volume drifted of
Volume IN the first hour was 400, =
900 shares but b. the third hour had
slipped to 10000 shares. Tlckers
barely operated. Brokers reported
an apathy 10 trade in view Of the
heavy tone for the last few days.
Rails. leader Of the decline, flrmed
slightly today New York Central at
p AtchisOn around 81, Baltimore
and ONO at l7iz, Southern Pacific
at 1874 and Southern Railways at
l5s all showed fractional advances.
This was carried into the indus
trial list with United States Steel
up almost point at 367s and motor
shares fraCtionally higher. Utilities
also hrmed after Consolidated Gas
had touched another record low for
the present stock.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-07-24
TRUST STOCKS DECLINE
Average of Ten Leading Common
Investments Drops to 1893.
BIZ Times special

BIZ Times special
NEW YORK, July 24.-The in
Vestment companies common stock
index eased slightly during the past
week, as evidenced by the averages
compiled by Distributors Group,
Inc. The average for the common
stocks Of the ten leading manage
ment companies, influenced by the
leverage factor, stood at 1899 as
Of the close July 20, compared with
1907 on July 49,
The average Of the nOnleverage
stocks stood at 1853 as Of the close
July 20, compared with 1900 at the
close on July 13. The average of
the mutual funds closed at 1047,
compared with 1890 at the close Of
the previous week.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-07-24
GENERAL FOODS REPORT
S5.882.712 NET PROFIT
First Six Months Earnings Cents
Less Per Share Then in 1888.
81 Tunes Special

y 4 tMte >lttiAt
NEW YORK. July 24-The re-
port Of General Foods Corporation
for the SIX months ended June 80,
made public today, shows net profits,
after all charges and provision for
taxes. Of s5.S82,712.
The amount IS equal to Sip a
share on the 5.251.440 shares Of
common stock outstanding June 80,
and compares with net profits Of
sc. 342 562 for the corresponding six
months Of 1888. or s1.2O a share, on
the 5.25l, 46S shares then outStand-
ing.
Net profits for the second quarter
totaled s2203.062. or - cents
share. as against S3.1O4.394. or So
cents A share for the second quarter
OF 1888.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-07-24
MARRIAGE Licenses

John Atkins. q. Of 40 Prospect street.
iaDorer and Clee MacFals, q Of III
English avenue housekeeper
Albert Weeden 90 OF 1924 West Tenth
street. -four packer and Margaret Bibos
OF 1924 West Tenth street. hOusekeeper
Herbert Law. 25. Of 1874 Rembrandt
street. truck driver and Mildred Odetta Of
1874 Rembrandt street. housekeeper.
James Leonard. So. city. railroad inspec-
tor and Marv Miles 80. Of liz Sast Ohio
Arnam Hazel 90; Of 1897 West, Everett
street. laOorer. and Bonnie Neighbors q.
keeper.
Charles Berry. %. Of IT'S South Meridian
street. laoorer. and Mary Or. 20. OF 2l2O
South Meridian street. housekeeper.
Donald Schortemeier. 81. Of 1921 Park
avenue, clerk. and MARY REYNOLDS 81. OF
66l6 Ferguson street L. s. Tire COMPANY
James Matturg %. Of 1922 East Wash
ington street, U. S government employe
and Clara Smock. l9 R R 5. BOX 62s
housekeeper
julius Alexander. q. Of 284o shriver
avenue foundry worker. and Grace Woods.
"a. OF 1926 Peck street. housekeeper
Roscoe James % Of 1909 East Nine
teenth street porter and Lula Feaslev q
Of 1910 East Nineteenth street. house
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-07-24
OWENS ILLINOIS GLASS
EARNINGS UP SHARPLY
Net Income for Twelve Months
Totals S5,854,212.O9.

u L tWtS NDtClNt
TOLEDO O., July 24.-Net earn
ings Of the Owens-I Illinois Glass
Company and subsidiaries for the
twelve months period ended June
30, totaled s5,854212O9, equivalent
to S488 a common share, as COM
pared with s4,2O8. 4989 90, or equal to
1914 a share for the twelve months
ended June 30, 1888.
Earnings for the current period
are less than those reported during
the last preceding period when So
993, 489.10 was earned for the twelve
months ended March 81. These lat
ter earnings were the largest in
the company's history and were
largely due to the legalization Of 30
beer and repeal Of the eighteenth
amendment, which resulted in COM
bined demand for an initial supply
Of beer and liquor bottles.
The board of directors recently
declared a dividend of IS cents a
share on the common stock, paya-
bic Aug. 49, to stock Of record
July 30.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-07-24

FEDERAL FARM LOAN BONDS

(By Blyth & Co.. IncD
-JulV q
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-07-24
RAINS REPORTED
OVER DAKOTAS;
GRAINS RECEDE
All Deliveries Drop Despite
Continued DryneSS in
Most Sections.
BY HARTMAN W. NICHOLS
United Press stan Cores pendent

CHICAGO. July 24-Rain re-
celyed over the Dakotas started
grains on the downside at the open
ing Of the Chicago Board of Trade
today despite the fact the remainder
of the country remained hot and
dry.
Wheat started : to 8. cent lower;
corn was unchanged to of $ cent.
High temperatures continued over
most of the country but many oper-
ators were disposed to come into
the pits for profits on reports of
heavy rains in the DakOtaS.
Liverpool cables indicated the
market there was unchanged in
spite Of considerable profit taking
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-07-24
FIRM ANNOUNCES LOSS
Operations Cost Company S1S7,631
for First Half of Year.
BIZ Tins Speciql

CHICAGO. July 24-John H.
Thompson Company reports net loss
in the first six months of the cur
rent year amounted to S187,63
against s29l.631 in the correspond
ing period a year previous Gross
sales during the period i0taled S.
35.870, against S5,096,397.
Directors of the company this
week declared a dividend Of 1912
cents a share on the common stock,
the same as was paid in the preced-
ing quarter. The payment, to be
made Aug. 10 to stock Of record
Aug. l, will be taken from earned
surplus.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-07-24
SEARS R0EBUCK SALES
BEST IN LAST 3 YEARS
Output for Weeks Ended July 16
lib Per Cent Above 1888.

NEW YORK. July 24.-Sales of
Sears Roebuck & Co. for the four
week period ended July Is amounted
to SCI, 651512 and we're the best for
the similar period in any year since
1881, being an increase Of lib per
cent over the corresponding period
last year, the company reports.
The amount, however. is $685.
65l less than sales Of the previous
four-week period, considerably I'M
der the average for the season.
Report for the first six periods
OF the year shows sales totaled s140,-
500, 800 as compared with 108, 900,
$50 in the similar 1888 period. an
increase of % per cent.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-07-24
PLEA TO HOLD CATTLE
Needed BY STOCKMEN
Yesterdays Shipments to X. c. Pens
Cut to 1900 Head


KANSAS CITY. Mo, July "a
Stock raisers Needed the pleas of
commission men yesterday and only
about 1900 head reached the yards
instead OF the expected run Of
IS 600.
Last week commission men
warned cattlemen to hold their cat
lie # possible. Lack OF pasture and
water had caused a heavy run. Lat
Monday 10000 head were received.
Unless there IS rain. however. 1t
is expected receipts will go up again.
There we're many eastern buyers in
the market today. Good stocker
COWS have been selling for as low
as a cent a pound, offering farmers
with pasture and water excellent
buys.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-07-24
Other Livestock


lover 25o8o Gf lbs sly s4s5 2o25o lbs s4 So
10000 lbs. S445: l6O-180 lbs, s4.35: 300
$50 BIS, $455; 150-l6O lbs, $3.50; 14O-14O
lbs; $685.; I3o-I4O lbs, $3lO 120-13O lbs,
stays, Sis. Calves, SIS; lambs, s625.
LAFAYETTE, July 24-Market; 5 55Ss low
81 4O@44 16O-18o lbc.,. s425@ ABS; 140-
8; 1oG-i2o lbs 81 So; roughs. 81 down; top
calves, $3.50; lambs. $3.50 down.
BY Times Special
LOUISVILLE. July -Cattle-ReCeipts,
all palmer grade slaughter cattle very re-
stricted due to continued severe heat
wave; market quotable steady to weak;
common to medium steers and heifers
and low cutter and cutter flesh 50 rs down
as low as $3.50: bulk palmer grade grassy
beef COWS. S225d 3; good kinds and smooth
heifers types to around $780, low cuttersd
slow mostly s4a4.50 for light Hereford
slow mostlvl s4d450 for light Hereford
heifers and S2m3 for inferior and com
mon native and southerns. Calyes-Re-
vealers. 81 down: strictly choice, $3.50.
Hogs-Receipts 500; market steady; top
and bulk on better 10000 lbs, .S4.85: 185-
205 lbs. s465; 305 lbs up SAILS; l60-l80
s2.1O; sows, $3.50; grassy and UNFINISHED nee
1000; quality Of the lambs less desirable
than that Of Monday; market not esta D.
lower at s6G SIS for bulk: better truckedd-
in ewes and wethers; fat ewes, SlG 2;
stock ewes moderately active bulk: So ,5Op
$50 head: choice Idaho and Montana
mateiy $500, stock ewes Monday with
around 81 500 on sale
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-07-24
CHICAGO FRUIT MARKET

CHICAGO. July 24-Fruits and veget
ables Apples-Michigan Transparent,
cumbers-Illinois bushel. 75cd 81 50. Car
ross-Calfornia crates sl.50G2: Illinois
punches, 2d2izc. matoes-Tennesse
lug box 85cGs125 Illinois fiat Tugs. 25N
65c. Sweet potatoes-Tnnessee bushel,
sl50G175 Mushrooms-Illinois,. ID. car
tons 30G 40c. Peaches-Georgia J 2 bushel.
sldI25 Red Ras pberries-Michiga "a
pts sI25G2 Lettuce-California crates,
s3G3 50: Ohio = bushel leaf SOC. Beans
Illinois green bushel 75cNsl- rs: wax, 81
N125 Cabbage-Illinois crates. slN 80
C4O-70 lbsl. Celery-Michigan crates.
35d SOC Cherries-Michigan. 16-qt., red
sour 75cNS1. Cantaloup-Indiana crates,
SlTl25 CaulifoWer-Tlinois sacks, doZ.
yellow. 40d Soc PepperS-TenneSsee
bushel 81 50 Onion market 50-lb. sacks
California yellows. 81 10dl20: California
whites sI75a l85; Washington Valencias.
SlGl.i5.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-07-24
HOG QUOTATIONS
CONTINUE DROP
AT CITY YARDS
Dip IS to rs Cents in Days
Trading; Cattle and
VeaIerS Steady.

Hog prices at the Indianapolis
Union Stockyards today continued
their drop which began yesterday,
showing a decline Of Is to Is cents
the latter amount being mostly on
underweights.
The bulk heavy weights, ranging
between 200 and 300 pounds sold at
prices Of from S465 to S475 while
weights above 300 pounds brought
prices of from $3.50 to $3.50. Me-
dunn weights sold at S4.4O to $3.50.
light weights at 1925 to S3.75 and
light lights at s2.75 to So. Packing
sows brought 1925 to S4. Receipts
of hogs totaled 5000. Holdovers
numbered 3O3.
The cattle market was mostly
steady at yesterdays decline, the
bulk steers selling at 81 down. Two
loads we're sold at So Heifer trad
ing was weak, and the COW market
was at standstill. Receipts totaled
l 400
Steady prices continued to prevail
in the veal market, the bulk of the
700 receipts selling for SIS down
ward.
Sheep receipts totaled 1920 and
the trading was mostly weak to 25
cents lower than in the previous
session. Good eve and wether lambs
brought prices of from 81 to 1925,
with a few small lots ranging up to
$3.50 ThroWoutS brought prices
ranging between $3.50 and $3.50 and
slaughter sheep $3.50 to So.
No market was established at
Chicago, the Bureau of Agricultural
Economics reported, due to a strike
Of handlers. Because of the con-
geStion it was impossible to accur-
ately estimate tOdays run
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-07-24
On Commission Row

Quotations below are average retail
prices being offered to buyers by local
commission house dealers.
Apples-Fancy Delicious. $3.50; Trans
parents. s1.50d2.
Peaches. Georgia, Elbertas bushel, s1.35
62.50.
California sunkist. s5G5.50:
Valencies. S425d475.
Lemons-Sunklst. $3.50.
Grapefruit-Florida seedless, $3.50.
ntaloupes-Indiana iumbos. fats. 75c;
Standards flats SO so; Honeydews. $3.50.
Pears-Caiavos $3.50 a box.
INTERNATIONALLY 75C.
Bananas-A pound SC
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-07-24
BANK DEPOSITS CLIMB
Federal Reserve Members Report
S54.OOO,O00 Rise in Week.
BIZ United Press

D Y { FIIIE Y 7 u
WASHINGTON, July 23.-De-
posts of reporting federal reserve
member banks in ninety-one leading
cities in the week ended July 10 rose
s54OOO.000 to total Of s18,560,000,-
600. the federal reserve board re-
ported today.
Despite the further rise in de-
posts. loans Of these banks dropped
s45 1000, 600 to s7e61 600 900. Invest
ments rose s51 900, 900 to s9,796,
Co., 900.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-07-24

i r S w dLCe
company eX-
eCutives gen
orally are re-
gaTded as the
S hire " dest
security pur-
in
the country.
When o n e
APlh1 Over Tie
long list Of
"a ilrO a d
securities IN
Z h cir port
folios, how
ever. he Is
apt 70 Won
der whether
the rnDfIfa-
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-07-24
Open New Bond ONCE

NEW YORK, July IL. j.
Devine & Co., Inc. one Of the
largest houses in the country deal
ing exclusively in United States
Government securities, announced
today the opening Of a new office
in St. Louis. the sixth in a coast
to-coast chain established by the
organization since it started bust
ness in New York City in June,
1888.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-07-24
NET PROFIT INCREASES
Kelvinator Earnings in Quarter
Total S1,348,839.

? III'Ir VI-IIV
CHICAGO, July 24.-Net profit of
the Kelvinator Corporation for the
quarter ended June 80. amounted to
S1.348.639 after all charges, equiva-
lent to s1.13 a common share as
compared with s3O5,517 or % cents
a common share in the preceding
quarter
Net profit in nine months ended
June 80 totaled s1,121, 421 or s110 a
common share against S622,828 or
SIS cents a share III the correspond
ing period year previous.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-07-24
Gold Production Drops

BIZ United Press
TORONTO, Ontario, July 24-On-
tario gold production during June
amounted TO s5,7O7873 against
s6,454614 in the preceding month.
Output for the first six months OF
the year totaled s34 ,367. 329, an in
crease Of about 100000 over the
corresponding period last year.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-07-24
Investors, Spectators
May Bear Cost of US.
Regulation Machinery
OUTPUT DIPS
June Production Totals 149,656,346
KilOwatt Hours.

NEW YORK. July 24-The power
output Of the electric subsidiaries Of
the American Water Works and
Electric Company for the month Of
June totaled 149.656.346 kilowatt
hours. against 150.322 .568 kilOwatt
hours for the corresponding month
of 1888.
For the six months ended June
80, power output totaled 908373 1858
kiloWatt hours, as against 767 905, 731
kilowatt hours for the same period
last year.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-07-24
CONTINENTAL CAN NETS
$13,154,973 IN YEAR
Earnings Are Equivalent to S5.16 on
Each Common Stock Share.
BIZ Times Special

BIZ Times Special
NEW YORK, July 24-Net in
come of Continental Can Company.
Inc, for the twelve months ending
June 80, amounted to S13154.973,
which, after providing S4O95.311
for depreciation and federal taxes,
left net earrings available for the
common stock Of S9,O59 ,662, equiv
alent to S516 a share on 1,755, 689
common shares.
In the corresponding twelve
month period ending June 30, 1893,
net income amounted to S8.729. 1O9.
from which S3,297,7 1852 was deducted
for depreciation and federal taxes,
leaving net earnings Of S5,431.347.
for 1,733,345 common shares issued
at June 30, 1888, equivalent to 1913
a share.
Sales in dollars for the first six
months Of the current calendar
year we're over 26 per cent ahead of
the same period in 1888, according
to the company.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-07-24

ton is deserving. But nevertheless,
they seem 70 set the pace when Il
comes 10 the longeT-term municipal
bond prices. And of the large num-
Der OF insurance buyers there are
five or six men who are outstanding
leaders. II they favor an issue that
issue usually responds prIceWise. II
they disapprove Of 10 the opposite
usually occurs.
1t is considered rather unethical
for an insurance buyer 70 give his
ideas as TO price 10 an underwriting
banker who proposes to make bid
for a municipal issue or any other
as a matter of fact. But, of course.
it is very important 10 the banker
10 have a fairly definite idea Of the
insurance mans views. and there
are ways OF finding out, as a general
rule. without too much embarrass-
ment. AT any rate. whether directly
or IN open-market operations. the
insurance people rather than the
bankers tell Mayor La Guardia and
the mayors OF most other cities at
what price they may sell their
securities.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-07-24
-Vegeta bles-

Sweet Corn-Home grown, doz. 12iac.
Cabbage-Home grown bushel. 65c.
Celery-Michigan. at boxes. SIPS; me-
dunn doz 45c.
onions-Caiifornia yellow. 5O-lb. bag.
Potatoes-Rural New York. 10O-lb bag,
s165; Idaho Russets, 1oo-lb. bag, 81: new,
barrel sl50d160.
Sweet potatoes-New Alabama. bushel.
50.
Beans-Round stringless. bushel. $50
Beets-New. Csc a dozen.
Carrots-Home grown. bushel. 81; doz..
Csc.
Cauhhower-10s-11s crate. $3.50
Lettuce-Outdoor 15-lb. basket. 55c: ice
berg best So a crate
Pes-California, hamper, So.
Radshes--Ohio. so doZ. punches SOC.
Rhubarb-Home-g grown. dozen, 25Q 3oc.
Spinach-Home grown. bushel CSC.
Tomatoes-Hothouse lob basket IS
soc. original Tenn. 30-lb. lug 81.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-07-24
Wall Street
Banks, Insurance Firms
Take Half of New N. Y.
Bonds.
: BY RALPH HENDERSON,
TImss speciaI Tinancial WIZ

II may surprise a great many 20
- learn that the insurance com
panies took more than IS per cent
Of the s5sOO0OOO Of New York City
bonds which were placed on sale
late last week. Banks and other in
stitutions took another IS per cent.
leaving less than half Of the total
70 60 10 the general pubic.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-07-24

Bulls (yearlings excluded
Good (Deef steers) ...... 2500 3 so
Cutter common and medium. 1.5oG ESQ
VEAT,EPS
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-07-24
Dividend Action Postponed


By Times Special
CHICAGO July 24.-Armour &
Co. has postponed dividend action
until the board Of directors meet
in August. The dividend is re-
garded as a certainty for distribution
by Oct. !.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-07-24

Federal Farm Mortgage Corporation-
S14s March IS. l964-44 .... 1929 10224
The latter three quotations are in thirty
seconds.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-07-24
Daily Price Index
Bright Spots
Lev Abbott. Hoppln 8 Cd.
By United Press

Phillips Petroleum Company net profit
for the SIX months ended June 30. totaled
g $40 157 after taxes and charges, against
a net loss Of s6 .324 $50 for the first half
of 1888.
National Dairy Products Corporation
net income for the first half of the
current year after all charges was
81. 900 .3s7. equal to 50 cents common
share after preferred dividends as COM
pared with S5.1SS, SOB or - cents a share
for the first half of last year.
London rubber stocks on July 20 totaled
90 $50 tons. an increase of 746 tons over
the preceding week. Stocks at Liverpool
totaled IS. 40 tons an increase of 608 tons.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-07-24
CHICAGO PRIMARY RECEIPTS
Lncal Wagon Nheat

City grain elevators are paving 81 cents
for No. ? soft red wheat. Other grades
on their merits.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-07-24
N. Y. Coffee. SUGAR Futures
July IS
COFFEE
Rio
Retail Coal Prices
July e.
EUTrAEn

ne folIou1nz pricss represent cuots-
tons from leading Indianapolis coal DEAL
ers cash discount az IS cents Ger tor
- allowed
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-07-24
U. S. GOVERNMENT BONDS


(By United Press
NEW YORK july 23.-Closing Liberties.
(Decimals represent 32nds).
Liberty
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-07-24
U. S. DOLLAR STRONG
London Market Lists British Pound
Value at S5O4is.

LONDON. July 24-The pound
was s5.O4is today. Gold was IN
changed al S34.76 a fine ounce. with
the sterling rate l37 shillings II
pence, up one-half penny. Yester-
DAYS rate was fixed with the pound
at s5o4A.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-07-24
Treasury Statement
Bv United Press

IbT JuLLeu FTe5sI
WASHINGTON july 4-Covernment
expenses and receipts Of the current year
20 July q. compared with the correspond
ing period Of the previous fiscal wear:
This Year Last Year
Expenses 5 3s0.55OIl918 s233 $50 $50 IS
Receipts ..- l67 989 $40 90 l2l $50 355 40
Deficit ..--- 2t2 $50 1892 Ill 30l195.37
Cash bal 25I2 76l. 5i675
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-07-24

THE bankers Will maintain-and
Il naturally-that they arrive at
municipal bond prices after a long
and painful procedure which IS
highly complicated. This procedure,
they Will explain. involves the COM
-parison of market values Of hun
.dreds of various other bonds in the
same category. It is pertinent to
note. however. that no two cities
have the same financial setup or
comparable financial problems. And
if they did they probably would not
have bonds of the same maturltles.
Yet when bids are made they usu-
ally are very close.
Banks of all kinds are excellent
prospects as purchasers of good
short-term bonds these days. There
was not enough Of the short-term
New York City bonds TO go around.
This is because the banks are still
very eager to keep in liquid posi-
ton. These institutions usually are
well provided with investment ad-
visers also. so there is likely to be
very little careless buying.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-07-24
MYTH more than half Of the
w New York City issue going to

MYTH more than half Of the
w New York City issue going to
insurance companies. banks and
other institutions. it should be APP
parent that municipal bonds are not
sold in the same fashion as the
usual run of securities. 1t is not
possible to secure a big profit spread
by getting out the brass band, sucn
as was done a few years ago, when
foreign loans. industrial issues and
the Ike we're peddled TO investors.
who frequently did not know the
first principle Of investing.
The municipal bonds which are
sold TO the sO-called general in
vesting public likewise follow a
somewhat different route than the
ordinary issue. Being tax exempt,
they appeal largely TO people Of
wealth. These people usually know
their way around when It comes ia
selecting securities or they have
means Of finding out.