Oil Production: 
For the week ended' July 16 oil production is estimated to 
to have averaged ' 3 , 34S ,025 barrels per day, increase of 
approximately "40, 000 over the previous week’s average. • 
Indianapolis Powe 
*V* Pr 
K~\j 
Light Co.,: 
The Indianapolis Power and Light Co. has filed with -the 
Secretary a registration statement ■ covering $32,000,000.00 
of first mortgage 'bonds and $5,500,000.00 of serial notes 
maturing August 1, 19 39-48 » The maturity date of the bonds 
as well as interest rates on the bonds and notes are to be 
supplied later. Proceeds of the sale will be applied to 
redemption of $37,509,000.00 5 $ first mortgage bonds due 
January 1, 1957. 
Transcontinental Air Lines: 
4 
TV/A and Western Air, Inc. reported yesterday that during the 
first six months of this year, 27,815,829 passenger miles 
were flown, an increase of 20 $ over 1937. " 
Steel Operations: 
The American Iron and Steel Institute set the rate of steel 
operations for the current week at 36.4$ of capacity, a gain 
of 4.1$ over last week and the highest rate since November 15. 
t 
Stock Market: 
4 
Volume of trading on Saturday: 627,270 shares. 
Dow-Jones Stock Averages 
<n m — — r — r~ 'i 1 11 
Industrials 138.53 
Railroads 27.18 
Utilities 21,39 
In active trading today, stocks rose in an advance which 
carried the industrial average to a new high for the year. 
The bullish movement was attributed to the improvement in 
steel operations. Bonds were higher as were stocks on the 
curb and at Chicago. Cotton futures were barely steady 
while rubber futures gained half a cent a pound. Wheat and 
corn closed f ract ionallv higher. 
MISCELLANEOUS 
Peace Groups on Neutrality: 
A joint stand favoring retention of the neutrality legislation 
and passage of the Ludlow amendment for a war referendum was 
Issued 'yesterday by the National Council for the prevention 
of war, Women’ s ' International League for Peace and Freedom, 
World Peaceways, The Fellowship of Reconciliation and the ’’Keep 
America out of War” Congress. The statement declared: Quote 
The one hope of avoiding a world war in this or the next gener- 
ation 'lies in the fundamental readjustment of world relation- 
ships, with general disarmament. This readjustment will not 
be made if European statesmen believe the United States will 
fight to maintain the status quo . 
By refusing to permit any weakening of the neutrality law and 
by prompt passage of the war referendum amendment the people 
of this country will protect themselves against foreign wars 
and make their greatest possible contribution to the estab- 
lishment of stable- world peace unquote. 
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