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Newspaper
Indianapolis Times
Location
Indianapolis, Indiana, United States of America
Date
Aug 06, 1929
Page
6
New York August 6 bear news leveled off as the stock market steadied through the day. Major indices rallied from early declines with utilities and rails leading gains, while Insull Utilities faced renewed selling before support built and key issues like American Smelting Anaconda and Kennecott advanced.
Indianapolis and New York bank clearings show millions in totals with balances and federal credit figures. Treasury notes report Aug 3 balance and customs receipts while Chicago figures list bank clearings and balances alongside foreign exchange quotations and currencies.
In Mexico City on August 6 the National City Bank of New York opened its 100th branch, expanding to twenty five countries. The move cuts current interest rates by 2 to 3 percent and signals impact on British and other European banks. A banquet attended by U S Ambassador Dwight W Morrow and bank officials highlighted the milestone.
The Stock Exchange opened with a few million lost and many gains. New Haven rose to 1192 a new high since 1913. National Power led with 15000 shares at 68 up 17s, signaling utility demand. United Corporation opened at 71 up and American Waterworks climbed to 144.
The market report lists numerous produce items with prices. Fruits include Cherries California four dollars per crate, Grapes California seedless five dollars, Lemons California crate fourteen to fifteen dollars, Oranges California Valencia three seventy five to eight, Peaches Hiley Belles three dollars, Elberta peaches two fifty, Plums two seventy five, Raspberries Michigan three to three fifty. Vegetables cover asparagus home grown sixty three cents to one dollar a dozen bunches, beans green two dollars, beets forty cents per dozen, carrots fifty cents per dozen, cabbage two dollars, cantaloupes jumbo three seventy five to four hundred, cauliflower two dollars, corn thirty five cents a dozen, celery four twenty five per crate, cucumbers one twenty five per dozen, lettuce California Iceberg eight dollars per crate, onions Washington three seventy five per bag, tomatoes home grown one nineteen to two dollars per basket, watermelons Florida sixty five cents each.
Wholesale butter prices for No. 1 and No. 2 grades and butterfat at 43c. Various cheeses priced per pound. Eggs buying prices with fresh deliveries at Indianapolis. Poultry buying prices for colored broilers, leghorn hens, ducks, and turkeys. New York trading shows flour, pork, lard, tallow, potatoes, and dressed poultry figures. Chicago lists barrel and bushel price ranges.
Elevators in the area are paying $1.18 for No 2 red wheat and $1.13 for No 2 hard wheat. Local grain dealers note the pricing reflects market conditions and regional supply.
City permits list numerous applications and projects with owners and addresses. Items include add ons such as porches garages remodels repairs boilers and furnaces across multiple streets and neighborhoods with varied valuations.
Hog prices at the Union Stockyards were mostly steady with lights and underweights 10 cents higher. bulk 140 to 260 pounds sold $11.30 to $12.00, top $12.10. Cattle and sheep markets mixed but strengthening in steers and vealers, with fat lambs and ewes steady at quoted ranges. Chicago and Indianapolis quotes noted for hogs and cattle across multiple weight classes.
Reports from Chicago Louisville Cincinnati and other markets show hog and cattle receipts with price declines from 6 Aug. Hogs sold mainly light and mediumweights at lower bids. cattle demand strongest for grain fed steers, with varied prices by weight and class. Sheep and lamb markets remained active with steady to higher tone in some regions.
Wheat edged lower at the open as rising visible supply dampened demand. Corn rose slightly as it moved independently from wheat, while oats eased. Canada weather remained steady with frost potential unclear. Winnipeg futures were down about 20 cents. Traders expect slower buying and possible higher prices later if exports improve.
Cash grain close reports No. 2 red wheat at 1.29 to 1.30 per bushel. No. 2 yellow corn at 1.03 to 1.04. No. 2 rye at 1.11. Oats 52 to 53 cents. Barley 68 cents. Domestic clover at 16 dollars for October and 14.75 for October imported 12.75. Timothy old 2.50 with December 2.35. Alsike new 11.30 for October and 11.75 for December. Butter 44 to 48 cents. Eggs 31 to 33 cents. Hay 1.25 per cwt.
Kiwanis Club luncheon at Claypool and several other club luncheons were noted. A store picnic at Broad Ripple park featured a basket lunch. Brown county residents plan a fifteenth annual reunion at Garfield park. Marion County WCTU picnic was held at Brookside park shelter. Theft of six tires from Dillon Carroll garage on Massachusetts avenue reported to police.
Lawrence Holden and Lillian White obtain marriage licenses. Russell Dowdy and Mabel Beeman, Carl Peterson and Kathleen Straughan, Charles Forbes and Gerusha Fowler, Trane Montgomery and Josephine King also listed. ages range from 19 to 28 with multiple occupations noted.
Hogs receipts around 600 at East Buffalo with mixed bids across weight classes. Cattle and calves show steady to strong demand. beef steers and vealers firm, cows variable. Sheep markets active with bulk fat lambs around 13.50 to 14.23 dollars and high fat lambs near 13.50. Westward notes from Cleveland reflect similar trends with steady beef prices and stronger fat lambs.
Winnipeg reports a weak crop outlook as heat and dryness accelerate ripening. Manitoba sees rye and barley cutting under way with wheat only partly filling, while Swan River and Russell offer limited hope. Northern Saskatchewan and central regions worry about feed. Peace River area and Athabaska expect normal or better yields.
The United States co operative league reports 2,000,000 farmers with 1928 gross returns over 2.0 billion dollars eyeing a major agricultural co operative push. It already lists 78,000 members and annual sales of 14 million dollars. Market activity shows the Chicago Exchange top fifty stocks valued at 2.565 trillion, up 15.85 percent from last week.
Birth notices list numerous parents and newborns with many at St Vincent's and Coleman hospitals. Names include Sam and Rita Dan at Norwalao. James and Lois Riley. Herman and Mildred Raber. Alvin and Mary Osterbach. Shirley and Dommie Dillon. Pepe and Wilma Dailey. Robert and Amy Jose. Dorothy Ballard. Ambrose and Violet Roney. Pene and Lucile Babba. Hugh and Clara Dunn. Alice Scoville. P Pal and Mary Mineh. Dorothy Bishop. Verdic and Mabel Allen. Anthony and Ida Klee. Everett and Bernice Peters. George and Marie Kanouse. Walter and Edna Hickman. Everett and Emme Dougherty. Agnes Higginbotham. Floyd and Stella Lewis. Sylvester and Ruth Burkert. Dallas and Lorene McCarty. Irene and Anna Chirpas. S William and Roberta Schrader. John and Georgia White. Shadi and Marie Mitrey. Elmer and Dorothy Bornkemp. George and Queen Shimer. Leslie and Gladys Galbreath. Clyde and Minnie Cox. Francis and Loretta McCarthy. Elsworth and Mildred Neal. Kathryn Wernsing. Daphne Reeder. 1237 Nor yke.
A list of deaths includes Harry Comfort 44 Central Indiana hospital hypostatic pneumonia. William Goines 45 1143 Roache aortic insufficiency. Hallie McNabney 33 city hospital acute myocarditis. Nellie Schultheis 44 824 South East acute myocarditis. infant Dillon 1 day 728 Grove premature birth. Mattie Tilson 52 239 North Illinois acute dilatation of heart. Mabel Bass 34 609 North Capitol accidental. Patterson Harlan 77 Long hospital accidental. John Vance 64 city hospital arteriosclerosis. Nelson Wells 63 872 Darnell acute cardiac dilatation. Lovina Norwood 80 city hospital hypostatic pneumonia. Daisy Graves White 55 Methodist hospital cholecystitis. John Linder 72 Central Indiana hospital mitral insufficiency. Lyie Schaffer 7 hours 1465 South Belmont premature birth. Marjorie Sedam 4 hours Coleman hospital asphyxiation. James Boofer 37 city hospital accidental.
Captain bin Ahrenberg telegraphed from Ivigut Greenland that unless he can proceed to New York this week he will abandon the attempt for the summer. He has been weather-bound since landing at Ivigur several weeks ago after a layover in Iceland. The report follows his long wait and delays before continuing eastward.
The aggregate market value of 100 NYSE common stocks rose by 1.747 billion dollars in July, up 4.7 percent from June. End of July value reached 39.926 billion, with leading gains in electrical equipment at 13.1 percent and sectors including steels, utilities, rails, chemicals, and miscellaneous industrials posting notable increases. Several groups declined, notably motor stocks down 4.5 percent and mining and amusement issues modestly lower. The 100-stock total shares amounted to 392,779,908.3.
At 9 30 a m the southwest wind is five miles an hour with a temperature of 70. Barometric pressure is 30.03 at sea level. The ceiling is solid overcast at 3 000 feet and visibility is five miles with light haze. Field conditions are fair.
The report lists several transportation trials including Richard McCauley’s monoplane from St Louis to Cleveland, Sydney Hall’s Travel Air Speedwing from New York to St Louis, Sam Jones and Ralph Sturm with a Travel Air biplane overnighting Albany Indiana, and Lieut Matt G Carpenter in an American Fagie biplane from Louisville. Additional crews travel from Camp Knox to Indianapolis and Dayton with various biplanes on test routes.
Richard Burke, who arrived at Lakehurst from Germany aboard the Graf Zeppelin, was a passenger on the Transcontinental Air Transport plane stopping at Curtiss-Mars Hill airport. Burke seeks to set a record for the fastest travel between Germany and Los Angeles.
Hoosier Airsport president Harold C. Brooks announces a feeder service linking Indianapolis and Dayton to connect with the Mason-Dixon line at Detroit. The arrangement will transport passengers from Cincinnati to Detroit through the Indianapolis Dayton corridor.
Britain’s 63 year old duchess of Bedford departed from Bushire Persia for the return leg of her England to India flight. She left England August 2 hoping to finish the journey in a week. A pilot and a mechanic accompanied her.
Angeles Aug 6 construction of a new plane for Lieutenant Harold Bromley began at the Lockheed plant after his Tokyo bound craft crashed on takeoff. The low wing design will be finished in nine weeks with Bromley predicting ideal weather for the trans Pacific hop.
Notice by the Joint Purchasing Committee of Indiana for benevolent and correctional institutions seeks sealed bids for dry woods and rations on file with the Secretary. Bids due by 10 o clock a m Monday January 19 1928 at Statehouse Room 326. Committee reserves right to reject bids and waive defects. Daily E McCoy secretary.
Memorial note honors Otis Louden who died August 6 1918 and Edward Louden who died August 6 1928. The verse expresses deep personal grief and enduring remembrance for two brothers killed in war.
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