St. Louis Post-Dispatch from St. Louis, Missouri • Page 23

WELFARE COUNCIL ASKS ST. LOUIS POST-DISPATCH w. Sep. 30, 1953 3c NEW 1 3-MONTH NOTES ARE AGENCY NOT TO USE ITS NAME SOUTHERN PACIFIC TO COT INTEREST RATE Fund Quotations NEW TORK. 8Pt.

30 (API QiK. tahuna furmhi bv National Asori-Hon of Security Dealers. which atatra they do necessarily reflect actuJtl transaction- mm brcls or ott-ra, but should indicate approximate prices, and unless otherwise indicated are as quoted by the apon-aor or issuer. Based on Sept 2 clonlnt prices. Kerarlty.

Mld.A.k7ir. U.S. Economy Today SMALL LOAN REVELATIONS By Sam Dawton NEW YORK, Sept. 30 (API How the man of modest means meets his financial problems during the economy's ups and downs and what the thinks of the chances of good times or bad often can be learned in the small loan departments of the banks and finance companies. TO GOVERNMENT FEATURE U.S.

BONO TRADE NEW YORK, Sept. 30 (AP Corporate and United States Government bonds improved slightly in quiet trading late today. Most activity in the Government market centered around the new 13-month notes and the 219-day special bills. Trading on a when issued basis, the 13-month Vs of 1959 were quoted at 99 31-32 bid, 100 asked and the new bills were at 3.35 per cent bid. 3.31 per cent asked on a yield basis.

The RISES SHARPLY Am Business Shrs Am Mutual Fund Afoc Fund Trust Atom Dev Mutual Ax Houahton Frt A Axe Houhun Fd Bnt'n Fund Bullock Funa Csnartt Gen Fund Csnsdian Fund Century Shrs Trust rhemical Fund Colonial Flin'l 34 4 40 22 1.62 5 4S 5 S3 39 17 77 14 08 14 62 19 52 25 71 20 1 1 10 75 9 90 10 On Their records of demand for tious. Across the Mississippi a The Health and Welfare Council of Metropolitan St. Louis has requested the United Welfare Workers, to cease using the council's name in its solicitation for old clothes and other contributions. United Welfare Workers, 1000 Hickory street, has issued literature which says, "We give aid to the Social Planning Council." Campbell G. Murphy said.

Murphy is executive director of the Health and Welfare Council, which was formerly known as the Social Planning Council. "We receive no aid from United Welfare Workers," he said. "It is not member of our council." says consumer confidence lags behind stock market activity, wuh borrowers still taking wait and see attitude. IN THE MIDDLE WEST: Jackson, reports collections in that state still a serious problem, but customers more optimistic now? In Columbus, Ohio, delinquencies are higher, following the pattern of 1950 and 1954, but loan demand is rising now through more to buy services than durables. Evansville, Ind sees some measure of loan volume upturn but little improvement in collections.

It reports some customers worrying about coming inflation and talking of borrowing to buy now to beat price hikes. Chicago reports improvement in the credit worthiness of applicants and steady if moderate improvement in cash collections. ACROSS THE MISSISSIPPI: St. Louis says collections are improving. Des Moines notes a rise in loan volume in re loans, difficulties of collections, definite upturn is reported and volume of delinquencies reflect trends among a large segment ol The far west is only a trifle less optimistic and willing to borrow again.

All unite on one thing money for the finance Comwlth Investment 14 71 1 16 06 citizens iust STOPS ON IMPERIAL TRAHiS WASHINGTON, 30 (AP) Southern Pacific Railway Co. filed notice with the Interstate Commerce Commission yesterday that it plans to put its Imperial passenger trains operating between Los Angeles and Tucumcari. N.M., on new schedules which will eliminate stops at 45 intermediate cities. Southern Pacific told the ICC it has been losing about $2,360,000 a year on these trains. It proposes to limit stops between Los Angeles and Tucumcari to nine points Indio, Yuma, Phoenix and Tucson, Lordsburg, Deining, Alamogordo and Car-rizozo, N.M., and El Paso, Tex.

The company said this will save five hours and 15 minutes on the eastbound run and four hours and 3 minutes notes were offered by the Treasury yesterday at 100 and i the bills to yield 3.25 per cent. Inter 1 at government as the records companies to borrow in order umiiH una Concord Fund Divers Growth S'll lux est Fund Dividend Shares DreWus Funl Eaton How Psl 7 74 9 71 3.14 12 13 23.68 23 22 5 72 15 71 5 9 55 ol tne millions and billions that industry-' 'J borrows give a 1 to the ft WASHINGTON, Sept. 30 'AP) The possibility of another "tight money" action by the Federal Reserve Board was increased toda; by a sharp rise in the Interest the United States pays on short term borrowings. The Treasury announced last night the Government will pay an average interest rate of 2 920 per cent for the privilege of borrowing $1,800,000,000 for three months. This marked an unusually steep rise over the 2.511 per course of busi-n activity -Vi PLANE TO CARRY YAN GOGH WOr.STO U.S.

TONIGHT and thinking. i Today small loan A Sf 1 i 6 7S 4 12 44 1 47 5.02 5 3li VI 1144 12 S5 13 52 IS 05 S3 78 15 0 9 90 9 11 9 20 13 53 14 8 7 Oil 2 S6 3 1.16 22 15 2172 5.23 14 61 5 1 8 79 16 90 13 7 S2 9 20 6 76 4 51 4.47 10 .18 6 36 3 90 9 30 9 69 8 76 12 03 14 50 4.86 MS 3 44 2 KS 3 65 2 70 6 43 12.24 11.59 20 22 19 08 11 01 3 92 7 89 6.55 11.99 14 91 6 86 12 88 12 65 9 19 35 25 12.25 11 30 7 41 10.21 11 06 66 5.33 13.28 across the na- cent which lenders demanded a week ago. Historically it's a pretty high rate. to charge the nation's best credit risk for to lend to you is getting tighter and interest rates seem headed back to their 1957 peaks. IN THE EAST: ALBANY, N.Y.

reports no increase In demand for loans except for vacations, although the average customer isn't as pessimistic now about job security or an imminent third world war. An Ithaca, N.Y. finance company has added to its staff to cope with Increasing collection problems. Its potential customers are still very cautious and adding to savings rather than borrowing. In Upper Darby, the high cost of living is blamed for collection troubles and heavier than usual net losses.

The average customer there shows further resistance to high prices and large debt, with loan demand mostly for emergency needs. Portsmouth, hopes loan demand will increase in the latter part of the year. It's already there in Washington, D.C., with the consumer showing more confidence and willingness to incur debt. Tampa, bonds advanced 2-32 to 4-32 while long range issues were steady to up 2-32 in slow trading, i Near the final hour Indus-triiaLs and utilities firmed to go over slightly on the plus side. Investment quality issues and rails were mixed.

Central European dollar bonds gave ground in a fractionally lower foreign department. Two short term mney rates went up yesteroay. Bankers acceptances increased Vi of a percentage point across the board and General Motors Acceptance Corp, boosted rates on commercial paper placed directly with investors. The new G.M.A.C rates range from 2Vi per cent for 30 to 89-day paper to 3V4 per cent for 240 to 270 days. The raises appeared to reflect the higher yields on the Treasury's fall financing and the new high for the year of the Treasury's 91-day bills.

The new issue bid yesterday drew a rate of 2.920 per cent. F.lectronlcs Invest Fidelity Fund Fls Growth Founder Mtlt Fund Fundamental InveH Gas lnihlst Fund Group Sec F.lectronlcs Group Fee RR Btors, Group Sec Tobacco Hanill Fd HCT Hnmil Fd HDA Instlt Growth Fund tnstlt Income Fund Intl Resources Fund Investment Co Amer Kevstone Cust 4 KeVKtone Cus; 1 Kevstone Cust 2 I. ni Fd slanag Fund Auto Manafr Fund Flee Ma nag Fund Gen Ind Manag Fund Metal Manas; Fund Paper Manag Fund Petrol Bond Fund Mass Investors Trust Mass Investors Growth Mass Life Fund Nation-Wide Beeur Pratl Investors Nat Sec Ser Nat Sec Ser Stock Nat Sec Ser Growth One W'm Streev Pioneer Fund Puritan Fund Putnam Geo Fund Putnam Orth Fd Selected Am Shares Slate Street Investment Fleet Fund t'nlt Accum Fund Unit Com Fund I'nft Incoma Fund Unit Science Fund Valua Ljne Fnud Value Line Incoma Fd Wellington Fund IS 52 14 75 8 57 10 OS 7 41 4.02 6.96 4 26 10 16 10 58 9 56 13 12 15 25 5 35 2 41 3 79 2 96 4 02 2.98 13 23 12 53 21 86 20.64 11.90 4.2S 8 62 7.16 12 96 18.21 7.22 14 00 13 75 9 94 37 25 13.35 12 28 8.10 1110 12 09 7.28 5 83 14.48 In this week's Post cent weeks although many customers afe still very careful to avoid over extension of indebtedness. In Denver demand for consumer loans in August and September showed a definite increase and collections have Improved greatly. The average customer is buying more freely and able to make larger down payments.

IN THE FAR WEST: Los Angeles believes the worst of delinquencies and losses is passed and confidence seems to be improving. A Bellevue, Wash, finance company reports employment Improving and customers showing willingness to spend but definitely demanding more value, particularly in autos. i show Sam Dawson marked regional variations both as to the financial health of the citizen in the middle and lower income brackets and his confidence or caution in viewing the THIS IS UNDERLINED IN a survey of finance companies in 15 cities across the nation made on the eve of Tuesday's opening of the national consumer finance meeting in Miami Beach. The eastern seaboard shows less response in consumer attitudes to business recovery than some other sections. Many industrial areas of the middle west, hard hit by the recession, are feeling much better but still very cau- THE HAGUE, Netherlands, Sept.

30 (AP) A collection of 84 paintings and 71 drawings by Dutch painter Vincent Van Gogh will leave aboard KLM (Dutch Royal Airlines) plane tonight en route to the United States West Coast. The almost priceless collection will be accompanied by Van Gogh's nephew, Dr. V. W. Van Gogh.

It will be shown from October to April In museums at Los Angeles, San Francisco, Portland, and Seattle. Most of the collection is owned by Dr. Van Gogh and the rest by the municipal museum of Amsterdam and the Kroeler-Mueller museum at Hoge Veluwe. short term, money. It means all other borrows.

Including blue chip corporations are paying a good deal more. The increase also means the interest rate on 90-day Treas-ury bills is now far out of line with the Federa' Reserve Board's 2 per cent discount rate the Interest rate banks must pay for money borrowed from the Reserve system. Reserve Board Policy. In recent years, the discount MEET THE UGLY rate Invariably has been raised in circumstances SUch as these. The Reserve Board normally tries to keep the discount rate ahove the bill rate.

This is to AMERICAN discourage banks from borrowing from the Federal Reserve and reinvesting in Treasury bills. The current spread between the bill rate and the lower dis count rate is greater than at any time In the last five years. On Aug. 14, the Federal Re serve Board permitted the San Francisco Reserve Bank to Through Mutual Funds raise its discount rate to 2 per cent from 14 per cent. This Increase, later adopted by the other 11 Reserve banks.

signaled a reversal of the Board's recession policy of nuNOtn till easing credit. An Increase in the discount i rate usually produces an up- lore's, a new and revealing Oldie A Investment novel about the Americans we send to represent us overseas ward movement of all Interest rates. Most recent increases have been motivated by an intention to discourage excessive borrowing which could feed the flames of inflation. Following Market. Should the Reserve Board Initiate another increase at this time, however, it could argue it was following rather than leading the money market.

In Designed for the investor who cannot devote the necessary time and research in. the selection of securities. Three of the basic principles to be observed in investing are: 1. Carefully selected securities 2. Diversification of risks 3.

Supervised continuously These principles are included in Mutual Funds. A Mutual Fund is an investment company whose sole business is to invest shareholders' mon- ey in selected securities and manage this investment for a fee. The funds they invest are obtained through the sale of shares to the investor. Your money is invested in the same way as that of the investor who can devote the necessary time and research in the selection of securities. The sale of Mutual Funds cannot be made without the use of a prospectus.

You are invited to. contact any of the local brokers listed in this advertisement and discuss with them your investment needs, aims or desires. including some who may shock you The authors of this amaz Possibilities ELECTRONICS Interest You? WHY NOT INVESTIGATE ing story are not only novelists, but experts on political trends Here are the facts Wellington offers you a share in the securities' of America's great companies with possibilities for growth of capital and income. It's a Balanced Mutual Investment Fund, professionally managed. or more fartt and a proi-pectus itaa coupon 6oic.

terest rates have risen more in the ar East. Their tale will entertain you but it will chill than the discount rate in recent weeks. you more! With the economic recovery TELEVISION-ELECTRONICS FUND, INC. i continuing, most financial ob servers have felt that another boost In the discount rate was only a matter of time. The Most of The Ugly American is luid in a fictitious country, Saikhan, and all the characters are imaginary.

But the action a shocking, tragic, violent novel is based on fact. upward spiral In the Treasury I A Mutual Investment Fund whose wnose dui rate increases tne nossibil iulii 3 Ity that the Reserve Board will Taa WattrncToi Co it art Phil.d.lphi. Pa, act sooner rather than later, i As recent'y as late July, the A MUTUAL FUND it a Method of investing a Program for investors Designed to meet on Investment Objective. If your objective is to in veil for possible long-term growth of copital and income ask for a prospectus offering the shares of this Fund that is our objective, too. invested iot possi-5JS bfe long-term l''oj)J growth of capi- an income companies actively 'i engaged in the Elec- Citr You'll meet John Colvin, the American who learned to love the natives while stationed in Sarkhan as a wartime OSS man and find out why they almost beat him to death when he relumed there after the war.

gdeystone GROWTH FUND A Mutual Investment Fund composed of securities selected for their possibilities of future GROWTH and in- bill rate was below 1 per cent. It hit a postwar peak of 3.660 per cent last October, before the Reserve Board temporarily abandoned its tight money policy because of the recession. The bill rate is a sensitive Indicator of money conditions. It represents an average of the high bids the Treasury accepts in a weekly sale of 90-day securities. The bids are for less than the face value of the bills.

The difference represents the effective rate of interest. GROWTH INDUSTRY SHARES, inc. A Dlvsnlfitrf Mutual Fund You'll meet Louis Scars, who managed to stay in the U.S. Congress for three terms, but Ironies field. Get the Booklet-Prospectus of this Mutual Fund row from your investment dealer or Television Shares Management Corp.

135 S. loSolla St, Chicago 3, HI. 115 Broadway, Nw York 6, N.Y. creased income. THI KIYSTONE COMPANY FIDELITY FUND INC.

was no match for his Russian counterpart when he became ambassador to the explosive little country Priced at net oust value plus 3 on investments under $2000, end down to 1 en $21,000 or more. 4 N. MICHIGAN CHICAGO III. 50 Congress Boston 9, Mais. Please Bend me Prospectus and deacrip-tiva material on the Keystone Growth Fund.

f.n JET CRASH FATAL TO 15 LAID TO 'COMPLICATIONS Nom Here, in a series of caution Nam ary tales, is the inside 'story1 of how we are losing the cold war! Address City-Stot A mutual fund seeking possible long-term capital growth and income by investing in the securities of over 100 corporations. Don miss The Ugly Ameri to can" by William J. Lederer and Affiliated Fund WASHINGTON, Sept. 30 (AP) Air Force Investigators decided today that "complications" in handling technique contributed to the crash of a jet tanker, with 15 fatalities. The KC-135 jet plunged to earth last June at Westover Air Force Base, killing all aboard.

An Investigation board said also these "complications" in the way the crew handled the tanker were "compounded by flight instrument limitations." It was "determined conclusively" that there was no structural failure of the big Investment Securities Dealers of St. Louis Banker's Bond Securities Co. 408 Olive St. Louis 2. CI.

1-4045 Bramman-SGhmidt-Busch, Inc. 314 N. Broadway, St. Louis 2. 6A.

1-2113 Cruttenden, Podesta Co. 316 N. Broadway, St. Louis 2, MA. 1-3884 A.

6. Edwards Son 409 North 8th, CE. 1-4744 30 North Brentwood Blvd. VO. 3-8250 Harvey-Klein Inc, 310 N.

4th St. Louis 2, CE. 1-8144 C. Hasselbach Co. ill Olive St.

Louis 1, CH. 1-4403 Henry, Franc Co. 308 N. 8th St. Leuis 1, CE.

1-B4A0 Kerwin Fotheringham Inc, 411 N. 7th St. Leuis 1, GA. 1-4141 Co, 418 Olive St. Louis 2, MA.

1-2430 R. 6. Mills Co. South Side National Bank Bldq. St.

Leuis 16, PR. 1-5354 Morfeld, Moss I Hartnett 721 Olive St. Leuis 1, CE. 1-8323 B. Morion Co.

4225 Hampton, Room 202 St. Louis. 1, Mo. FL. 2-2882 10 Adams, Ferguson, JA.

2-1800 I. M. Simon Co. 315 N. 4th St.

Leuis 2, CE. 1-3350 Slaylon Co. 408 Olive St. Leuis 2, Me. CE.

1-4050 Smith, Moore Co. 509 Olive St. Leuis GA. 1-5225 White Company 506 Olive St. Leuis 1, CI.

1-0282 Yates, Heitner Woods Paul Brown Bldg, St. Leuis 2, MA. 1-5450 PURITAN FUND, INC. A Common StocK Investment Fund no fire In flight nor Investment objectives of this Fund are possible long-term capital and income growth for its shareholders. Ask your Inveilmtnl tenia )er free Booklet-Proipexlui dacriptivt A filiated fund, sr orife It: Lord.

68 Wall (Street. New Terk 6 A mutual investment fund with primary emphasis on income. For Pronpectuaes send coupon below to your local Investment Dealer or HORNBLOWER WEEKS 134 South LlSalli CMcif 3, III. Find out NOW about these two different types of mutual funds Massachusetts Investors Trust Supervising a portfolio of investment -quality common stocks. d'und Supervising a balanced portfolio of common stocks, preferred stocks and bonds.

ProtpeetttMCM may ht oblaintd from your invutnunt dealer or VANCE, SANDERS CO HI DEVONSHIRE STREET BOSTON MASS. Haw Ton Cbioaoo Im Aiiaani Incorporated Investors I istablishco leae I A mutual fund investing in list of securities selected foi possible long-term growth of capital and income. Incorporated Income Fund A mutual fund investing in a list of securities foi current income. engine malfunction, the board said. The KC-135 crashed within a short distance of the runway from which it attempted takeoff early on June 27.

The dead included six newsmen who were to ride the tanker on a scheduled round trip, non-stop flight to England and return to the United States. Gentlemen: Please tend a Irer Booklet-FrosDKtut 00 Affiliated Fund Name. Address Lugene Durdick in this week Saturday Evening Post. The "failure" of the Nautilus! On its first attempt to break the Arctic underwater barrier, a frightened Nautilus almost wedged between a 60-foot-thick ice sheet and the ocean floor was forced to turn backl Read the tense, often terrifying story that can now be Made History in the Nautilus" by the ship's commander, William R. Anderson.

Braves' secret weapon? The big World Series chatter may be about Eddie Mathews or Lew Burdctte, but the man the Braves themselves are talking about is Del Crandall their talented, but less famous, catcher! Now, get the facts on this amazing All-Star! Learn why Crandall was almost single-handedly responsible for keeping Milwaukee in the running earlier in the season! And you'll find out what manager Fred Haney says makes Crandall the best catcher in the league today In all, 7 articles, stories, many cartoons and exciting photographs. Get your copy today wherever magazines are sold ed? $tata A prof pec tut on each fund available from your investment dealer or I The Parker Corporation I 120 S. LaSalle St. I Chicago, IU. I Are you FCC DISMISSES APPLICATION FOR TV CHANNEL 30 HERE SpeHal to the Post-Dispatch.

WASHINGTON, Sept. 30 An application to operate on UHF television Channel 30 in St. Louis, filed by Plaza Radio TV New York, was dismissed yesterday by the Federal Communications Commission. The commission also dismissed the firm's application to operate on UHF Channel 62 at Detroit. The Federal Communications Commission said the company had failed to respond to commission requests for more information about the proposed outlets.

Plaza holds a permit for a proposed Channel 26 station at San Francisco. interested in CLIP AND MAIL TODAY The George PUTNAM FUND of 'Boston "A BALANCED FUND" Address This Coupon to Any St Louis Broker Listed on This Page I ASS? I r0 Is fc.t fj Please send me without obligation a Prospectus and Literature on the Mutual Fund which will best serve my objective Paper? MANAGED FUNDS INC. PAPER SHARES offers you a diversified investment in the paper paperboard industries Send for Prospectus and an Informative pamphlet on the paper Industries of the U.S. and Canada. Mutual Fund Distributors Inc, 408 Olive St.

louis 2, Mo. NAVY PLANE, 10 IN CREW, MISSING OFF SOUTH FLORIDA Growth Industry Shares Incorporated Income Fund Incorporated Investors Fund Keystone Growth Fund Managed Funds Xlliliated Fund Botloii fund Eaton Howard Balanced Fund Eaton Howard Stock Fund Fidelity Fund Massachusetts Investors Trust Puritan Fund Putnam Fund Putnam Growth Television-Electronics Fund Wellington Fund PUTNAM' GROWTH FUND Emphasizing possible long-term CAPITAL GROWTH Ask sear Inmtmmt DmItM Fret PmptctMUS, msil ntpom Putnam Fund Distributors, Inc 60 Congress Street, Boston Please send Free Prospectus of The George Putnam Fund The Putnam Growth Fund I am primarily interested in CURRENT INCOME LONG TERM GROWTH Tt av I KEY WEST, Sept. 30 'AP) A Navy submarine-hunter Neptune patrol plane was missing in south Florida waters today. Ten crewmen from the Brunswick (Me.) Naval Air Station were aboard. At first light, 20 aircraft joined ships to look for the P2V, a twin-engine land-based plane.

The plane made its last radio contact with the Key West Navy base at 3:30 p.m. yesterday after taking off at noon on a flight to check instruments. Prospectuses available from your Investment Dealer or IATON A HOWARD, Incorporated 24 Federal Boston, Mess. BALANCEO FUND STOCK FUNO Heme Address I 9 Name a Address I CITY State Name Address- A CURTIS MAGAZINE SMM.