Indianapolis Times, Indianapolis, Marion County, 8 March 1940 — Page 35

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MARCH 8 1

John T. Flynn

NEW YORK, March 8—John P.

Coyne, head of the Building Trades

Department of the American Federation of Labor, has béen fore-

gathering with the leaders of that

department to protest against what

he calls an attack upon labor by ~ the Justice Department. He refers to the indictments of various labor

leaders by Thurman Arnold. The A. F. of L. contends that la-

bor has a right under the law to

combine and to make rules and demands upon its employers to protect its earning power and that when it enters into agreements with employers for this purpose it is not violating the anti-trust laws. The right of labor to combine to protect its wages and working conditions and right-of collective bargaining is dehied by no one now, although labor has enemies who would like to frustrate that right. = 2 =

BUT THERE ARE other people in the community, including other laborers, who also have rights. It is the right of man in Chicago to buy a door or a window sash for the building he is going to build from a sash mill anywhere in the United States where he can get it cheapest and best. But labor, combined with the bosses, has attempted to tell builders from whom and where they can buy their millwork. That is against the law. The plasterers, without any color of right, passed a law that any builder who used plaster on any wall of a room had to-use it on all walls. And they precipitated a disastrous strike to enforce that rule. They have no such right under any law. It is the. privilege of anyf builder to make the walls of the room he builds of any materials he wishes that do not violate a building code. Union labor in Chicago compelled a builder of apartment houses who was installing electric refrigerators in every suite to install drains under the boxes, although drains are not needed under electric ice-boxes. This was to help plumbers. And union labor has no right, human, divine or otherwise, to dictate to builders this way. : 2 ” 2 UNION LABOR HAS combined with sand and gravel men to compe all builders to buy sand ‘and grave. from a combination of sand -and| gravel dealers who fix prices and keep them up. They refuse to work for dealers who do not abide by the combination’s prices. Union men know this is unlawful. That is why they seek to. make these combinations in secret.

80They have no right to do these 30

things under any law. In doing them they deal a mortal blow, through the utter ignorance of their leaders, to the interests of their members. ‘They have succeeded along with their. employers in making the building industry the deadest thing in the country. Moreover they have discredited union labor. At a time| Go when labor is under attack, it cannot afford to be led by men who are so dead to ifs interests and the interests of the communities in which they work.

2-MILLION-DOLLAR

STOCK SALE 0. KD:

An amended application of the Standard Life Insurance Co. of In- ' diana for a $2,000,000 stock sale has been approved by the State Securities Commission.

Mi The action authorizes thescom-

pany to sell 100,000 shares of stock at $20 a share. The par value is listed at $5 a share. Most of the proceeds of the sale will be used in a company expansion program, including the purchase of business from other firms, according to John O. Hoffman, State Securities Commissioner. Harry G. Leslie, former Indiana Governor, who died three years ago, was the company’s first president.

Insurance Company. Holds Meeting

The fifth annual meeting of the Farm Bureau Mutual Insurance Co. of Indiana, Inc. opened today -at Hotel Lincoln. Everett Jeanes, secretary, was to make the report-and the principal speaker was M. J. Briggs. Larry A. Williams was named new agency director of the Hoosier Farm Bureau Life Insurance Company at the third annual policyholders’ meeting yesterday. Mr; Williams was formerly associated grith the DeBarry and Williams ageficy, Chicago. All directors were re-elected. They are Hassil E. Schenck, president; Larry Brandon, Arthur E. Arnott

Rensselaer; Oliver Cannon, Knox;| 225-250 1b

James -B. Cummins, Portland; Maurice Douglas, Flat Rock; W. Addison Drake, Fairbanks; George W. Elliott, Rising Sun; H. D. Gordon, Spiceland; Floyd Moye, Poseyville; Mrs. Lillie D. Scott, Clayton; J. Walter Thompson, Crawfordsville, and Albert Yoder, Auburn.

Purchasing .Agents

To Hear Rust

The Indianapolis Purchasing] § Agents Association will meet Tues-

H day noon, March 12, at the Athe-|$

naeum. Hilbert Rust of the In-|g surance Research and Review Co. will speak on “Taking a Look at the T.N.E. C”

Vogel Brothers Open Branch

Vogel Brothers Electric ‘Co. will

‘open formally their new branch! Bo

store at 3411 N. Illinois St. tomorrow. Kennard O. Vogel will manage the store, Vogel Brothers have operated an appliance repair shop at 1244 W. Washington St. 16 years. The new store will carry -a line of furniture and appliances.

Kinney Shoe Co. Pays Bonus

The local branch of the Kinney | Shoe Co. 138 E. Washington St.,

is ‘sharing in a $52,846 distribution| 2D

of bonuses made this week in accordance with the company’s profitsharing plan. This year’s bonus represents an increase of 58 per cent

r the bonus distributed the pre- so

940

STOCKS TURN IRREGULAR IN

Air Line Issues Reach New Highs as Steels and Motors Ease. NEW YORK, Maréh 8 (U. P.).—

trading today. Changes continued narrow in all sections Air line issues made new highs ‘with gains ranging to more

rise. Aireraft issues also were firm, with Curtiss-Wright the active feature. American Telephone and Pont made new highs for the year. International Nickel made a new

special issues were higher, Steels and motors eased the lat-

production for the week. Mercantile stocks were steady with Safe-

| way Stores at a new high for the

year. ; ; Considerable profit-taking developed in view of the rise in progress for five consecutive sessions. Other-. wise, there was nothing to cause a downward reaction any more than there was to cause a rise recently, according to the experts.

HOGS HIGHER;

15 Cents; Vealers Hold Steady.

Hog prices at Indianapolis moved

head, the Agricultural Marketing Service reported. The dime upturn weights under 220 pounds, the heavier butchers getting the nickel gain. The top of $5.60 went to 210 to 220-pound weights. The top price for vealers was $11.50. Fat lamb prices were about steady. Packing sows were 10 to 15 cents higher.

March Top 2 ...8 565 4 ... 5.90 6520 iia 5... 565 10,283 8 .... Barrows and Gilts Good and Choles, 20- 140 $ 3.85- 4 40- 160. 4.35 - - 5.55 5.60 3: 65

Repts.| Mare 1500 $

Top Rents. ..$ 565 5.50 5.60 Packing Sows ood 30d Choice— 70- $ : 65- 3 33 330; 4.604.50- > [3 4.45- 4.60 4.10- 4.35

3.90- 4.35

hb nen ene Dano oh On

Slaughter Cattle & Vealers (Receipts, 343)

Choice— 750- 900 $11.00-12.( 900-1100 11.00-12.( 1100-1300 1300-1500 - 1 Good -

Bulls ‘Yearlings excluded) Good ....$ 6.50- 7.00

6.50- 7.25 6.00- 6.50

5.25- 6.00 ers

Cutter and common Vea

10.50-11.50

and . z 2- 10.50 0- 7.50 Feeder, Stooper Cattle, Calves (Receipts, 397) Steers

0.15-10.75) Chiotees 8.50- 9.75| oo -1050. . 8.50ters | 80-1585 395: a am 500- 6.00 7.50- 8.75 so Calves steers)

hoi 6.00- 150] 8 Se Jowns 9. 9511. 00 ™M

St . Heif Mis Staers Heifers 500- 750

500- 750

9.75 9.00

8.75 0 8.00 750- "900 Medium— 7.00( 500- 900 Common- = 900

500 wh Calves (heifers)

. do 8.50- 9.5 450 5.500 wn 8.50- 9.50 4.00- 4.50 $00” down 7.501 8.75

SHEEP AND LAMBS (Receipts, 1144 Lambs prs )

Good and choice

FN vies. $10. 00-10.50 Medium and good N mn g 30. 3 75

Ewes (on Alors basis)

Good and choice

2.75- 4.00

CHICAGO LIVESTOCK

Hogs—Receipts. 8000: fairly active on weights 220 lbs. gous, steady to strong with Thur sdavs = Tage oe viest weak, $5.50; b and Siti 130-540 ie %. [email protected]; Ib. butchers, $4.90 5.25: 270. -320 1b. 5: heavier butchers, $4. ses 450 1b. packine cows, [email protected]; light weizhts up to 0. Cattle— Receipts. 1000: calves, 200: re ceipts meager all classes cattie department: fairly active session on cows; prices fully steadv, otherwise cleanup trade at generally steady priccs; most steers medium grade Selling from $8@9: good grade light and long yearlings upward to $10: bulk. canner cows. [email protected]; cutters up to $5.40: few beef cows, $5.95@ EL vealer S11. 0% i Ss, u good to choice,

Bet "os: late Thursday fat lambs closed weak to 10c lower than Wednesday: $10.40 paid sparingly: bulk offering around $10.35: bast taggers. $8.65: fed Western eves topped at $6.15: ot thers, $5.65@8; today's trade far lambs slow early bids fully steady: holding unevenly higher: 0. id i wool lambs: $9 paid for clippers. $9.35 for fall shorns: $6 for two double decks fed Western ewes.

OTHER LIVESTOCK

CINCINNATI. March 8 (U. P.).—Hog Salable. 1300. total, F290: oldovers. S00: active weights. 160 bs. 10c Lk lighter weights ‘and sous steady. 10 s., $5.50: 100-140 Ibs., $3. sows. [email protected]. Cattie—Salabis. 250: supply light; market about steady: few lots cows and scattered good 600 Ib. heifers. $9.15; small lot Nighiweighi medium steers, $8: common to good cows, $5.50@ 6; canners and cutters, $3.75@5. 25. Sheep HRacein pts, 100: nominally steady: good and choice wooled lambs, $10@1 10.30; common and medium grade, £8@9. Slaughter ewes, 3: 50 dow

Iad.. March Hogs—Steady; " 200-230 Ibs,. $5.30: 160- %

Ler

$5.70; 25@4;

' $10. YETTE. Ind., March 3 nizher: 1 45; 250-35 yy SET pif MALTS $9. 13010°2. g nls

Chicago Stocks -

~ High

8 P.). ee 60.2 00 1bs..

Last 6a 7

3% 18 34% 23%

Low 6%

34a 23% i

Armour & Oo ae

1, i n Nat 24%, ‘Houdaille-H 14% Hubbell Har . 16 Iron Fireman . arvis WB Lincoln Print arshall Field =

17 15% 1413 8Vs 341; 415

‘4 lbs, and over, ie White 2 OE 5 breed stag 7c: Leghorn stags, 6c; Leghorn broilers, lbs. and over No. 1-strictly fresh country run eggs, 12¢; each full case must cents 55 lbs. oss; a net deduction of 15 cen Re Jor each ull case under, 55 lbs. No. 1. 31%:@32c: No. ads. Soke tterfat—No. 1, 25¢: No. 2, 24c, quoted by Wi

N.Y. TRADING £8

Stocks turned irregular in afternoon i

than ‘a point and held part of the 2 Dun a

low. High-priced investment stocks ” generally held well and numerous | Am

ter despite a rise in automobile Am

RECEIPTS DIP,

Prices Here Advance 10 to =

] au Cig

5 to 10 cents higher today on re-|Bj duced receipts estimated at 6000|Blaw-Knox

applied %to|]

4.25- 4.50|Cas

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9.00

few loads| co

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300; total. 325: calves. |P

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YORK ST 0CKS _

lied Stores . . . lied Stores ot gi Chal.

lis a 4 1 78

rlin Am Bank Note. 10 pf. 4

P&L 3ia P&L 6 of. 53% A P&L 5 Ms A 4 Am Rad &. SS. Am R & 55 oi. 61° RMc . 68% Am Safe Raz’ s 124 am Ship B .. Am Am Sm Am Am S Am. Am Am Am Iype Fr Am Water W . 938 Am Woolen pf. 32 Anaconda

n Se nchor H Gl 22 3nehor H Gl pI1IZ, Armour Ill : on "il pr of Armstrong CE. Artloom Sein As Dry s Asso inv pf. 100% Atchison ...... 23%2 Atl C Line . ... 13% Atl Refining . . 22% Atl R

55h

vs Bo - 157s

t Ni a Aviation * Corp..

arber Asphalt, arker ‘Br bi. ayuk

. 4 uae . 81 Joatric 27Y oats Cr 5 pt. 109% dix Avn

Ben 3en Ind Loan: . 8 i .. 18Y2

3dgept Briggs Mfg .... kl -M Sas

3urlington M 3urroughs .... 12 3utler Bros

Byers ‘Byron Jackson.

Cal Packing .. Callahan ne. . Calumet .s 5 | Campbell Wy .. Canada Dry ... Can Pacific .... Karpenier stl .. J1of .. Se ir? T .. Celanese :

29908

hes & Ohio .. hi Mail Pret. 10% hMStP&P pf . h & Nw Ry .. hi Pneu T .. hickasha C .. Ele

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Colgate-P-P Colgate pf Aik

Col & Col & So 2 pf. Col Brdcast 5 3% Colum Gas . Col Pictures vie. He Col Pictures pf.’ 22 Col Carbon .... 95 Com Credit .... 30% Com Inv Tr ... Com In T cvpf N14 Com Solvents . 13%

8.00- 9.25|C

Cong-Nairn .. . 23 Con y pi. Cons Aircraft . Cons Cigar ... Cons Cig pf Cons Cig prpf . Cons Cobpermns Sh Cons Edison 31 Cons Cons Film p Cons

Crosley Corp .. Crown Cork 34 ig Ck cuptww 43% 3

Dixie-Veort Doehler D Cast 19% Dome Mines .. 2 Douglas Airc .. 85% ...162 oi 18% cess+.186%

East Air Lines. 34% R Mill 5

East Kodak 153 Bast Koak ‘ot. 173

ast fg «33 37s Eitin on fsch - 1s t 15%

a Pont 186%

33% 5% 53%

: | Ex-cell-o

fair Morse .... Fa Jardo Jue te Fed Lt&T :

Firestone

20Ya Firestone ot A 104% ’ N Strs ..

First Mintkote "ollansbee a Foster Wheel .. 19 Freept-Sulphur. 34%

Gair Robt bs Gamewell Co’ ve Gen Am Inv...

’ 447 19%

3s 17%

Out Adv Out Adv A 5812 Ry 8 Rt. . 99 Refrac say Shoe ve Stl C pf... Tel . ....

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By UNITED PRESS *

DOW-J ONES STOCK AVERAGES

30 0 INDUSTRIALS Yesterday ....... cerneses... 148.32 Week ARS .o...ccessoosens.. 146.23 Month AZO ........c.ces.... 148.98 . 152.28 High 11940), 152. 2.80; Low, ‘144. 65. High (1939), 155.92: Low, 121.44. 20 RAILROADS

+0.35 —0.31 | Re +0.54 +0.95

Yesterday ... Week AO ........ieee Month AO ....cceccvnveaccs Year Ago High (1940), 32.67; High (1939). 35.90; 15 § URILITIES

30.15. 24.14.

24.27 24.17

Week ARO ...coccessccsacaes

i [Month AZO ceeesveriienaee... 20.98

Year AO .c.cc.cine. santas 26.52 High (1940), 26.45; Low, 24.11. High (1939), 2%.10; Low, 20.71.

af 11 Central - 11% nd Rayon .... 27 Ya Inland Stl ..... 87

nspiratn Co 14 Insshs cts Ma .« 8% nter R T nterchem Pt. 110% nieriake Ir nt Agri nt He vester., nt H A... Mate. Mini Bg 1 Nick 35% Nickel oS a3 P&P .. 15% P&P pf | 5 a m Pp. a > 3%

53%.

[nt 10% :

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n Ss Sou TVs ¢ Sou pf. . 18Y2 Keith-Al-O pt.. . 96 Kelsey-Hayes Kennecott Kimberly Clk: -

Kroger G&B ..

Lambert b

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Lone Star Cem

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FSS SOBSSRS

Mead Corp V Elvilie sh .

Men "5, Monge! 1st wt. 3% Mesta Mach ... 31%

Monsanto Mor & Ess Motor Prod . Mueller Br .... Murray ...

M of. Mohawk Cp .. 3

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Ohio Oil ver £ Farm Ea 2 Otis Bley 16% Owens Ill Glass 60% —P 84 tae

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Peoples Dr .... Pet, Corp Am . Phelps Dodge .. Phil Morris ... > illips Pet ..

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Press Stl Car . rocter & G .. roc & G of . Public Serv .,. uns

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Oil Pure Oil 5 pf . 190

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i 1808 Pr ‘pt 43% 43%

Yale & T eoses 32% 22 Yellow TW 17% 3, i

11% 41%, Young Sheet tot 86 86

WHEAT EASIER CORN HOLDS EVEN

CHICAGO, March 8 (U. P)— Wheat was . slightly easier in

Board of Trade today. At the end of the first hour

| wheat was off %& to 3% cent, May .corn was un-|.

s| selling at $1.043%; changed to up % cent, May at 57 cents; oats were off % to up cent, rye was off 3% to % cent, and soy beans were off % cent.

wae > shill

on Vine = transactions. Agents Fipance co com sevens Be rt. RR & Stk Yds co : 83

Hy S PAL 6% Sia: ade Ss s8 0 ssa s par 8% pid Water 5% _pfd.. n Nat Life 1hs com. Pub Serv 5%2% pid. Pub Serv d. NI Pub Serv 7% pid Progress Laundy Pub Serv C

Camp Mi camp Milk

. . 84 COM ...ev000 11 Bonds ; Bl .ievencss BB 4 .

Van

102 105 81%

DAILY PRICE INDEX

NEW YORK, March 8 (U. P.).— Dun & Bradstreet’s daily weighted price index of 30 basic commodities, compiled for United Press (1930-32 average equals 100): Yesterday ..c.acsrecesconsnsase . 119.87 Week 880 vi secieseiviseee 11900 Month 880 ..creesussesessss 118.16 Year 850 .:.vesresnssnssnrss 10546 1940 High (Jan. 2)......... 123.34 1940 Low (Feb. 14) ........ 118.31

FOREIGN EXCHANGE

YORK, March 8 (U. P.).—Followns are noon cable rates on major curren-

Ses: Cable mp Net orange

«38 ..108 ee 18

“eee

Sessseiee

FOOD PRICES

O. March 8 (U. P.).—Apple oes, Vil 4 1581.50. ‘enn SiG

rida, crates, $2.50@3. ToBR de Spina oh i "carrots = California Srates, fa i Ga.40 Mar-

Evia 3 HE

ssn se

WAGON WHEAT

: cere

featureless trading on the Chicago)

: STORMS SLOW ~ RETAIL TRADE

Gain Narrowed = loeiand Floods. Hamper East, Pacific Coast.

Storms curtailed retail trade this week, according to Dun & Bradstreet, Inc., which: reported a nar-

a range of 4 to 8 per cent. The ice storm in the East sent the New England retail trade total down 3 to 6 per cent as compared with

Coast resulted in. a dip of 1 to 4 per cent. The Eastern

had a gain of only 2 to 4 per cent. Largest gain was in the Middle West which showed trade up 6 to 15 per cent. ! Retailers generally were cautious

pects in the situation, according to the Bradstreet Review, namely the sustained high. level’ onf consumer purchasing power, and secondly, the experience of ‘the past Christmas when .last-minute buying = easily | made up for spottiness early in the season. “Typical Easter goods monopolized. buyers’ attention in the wholesale markets, but caution prevailed here also. Orders were small and for immediate shipment in most instances and reorders were under expectations, according to distributors who said it was impossible to judge the success of the. Easter season until retail buying opened up more - briskly.

U. S. STATEMENT |

0: s Yea 166. 197: 20 $6, 108° in: 201. 59 86,272.04 3,735.730,718.37 079.855.162.364, 736 483.22 2,338,978, a 22 . 3,301,273,547.03 .511,710,75 2,649,786, Ta. 15 931, B33 g2 39/934,850,243.89 20.300,307.93 14.916,417,692.50 244,410,797. 3 216.245.993.321

INDIANAPOLIS CLEARING HOUSE

canes sarsasassnnesees $2,763,000 7,943,000

nses ..$6,310, xm oth 621

| NEW YORE, March 8 (U. P.).—|

rowing of the year-to-year gain to]

a year ago, while floods on %he}| Pacific

Seaboard also hit by the ice storm |

but they found two favorable as-|

| Trader Is Barred

Times-NEA Photo. John H, MacMillan Jr. presiJent of the Cargill Grain Ce. of Hlinois, has been denied trading privileges on grain exchanges by. tiny of Agriculture Henry A. Wallace for operating a, Sooner” on; corn in September, 937.

BRITAIN BUILDING DOLLAR BALANCES

LONDON, March 8 (U. P).— British - authorities today prepared further to tighten exchange regulations to enhance their ‘building of dollar balances. : The latest ‘step, it “was learned

- | qutheritatively, will be to force: Em-

pire sellers of rubber, tin, jute, furs and whiskey to sell their dollar or other currencies in London instead of in the free market in New York. Other commodities will be added to. the list from time. to time, it was understood. Such move, it was fointed out, tends to reduce demand for sterling in New York and accounts for

cent; No, 23 per cent.

“SAYS FARMERS

OBJECT TO AID

sagan Strvey ‘Reports

Three of Four Dislike U. S. Control.

CHICAGO, March 8 (U. P).~ About three out of four American livestock farmers are opposed’ to

Government control and assistance

‘to agriculture and ‘would prefer a balanced budget to all farm benefit payments, the Breeders’ Gazette reported today Samuel R. ‘Guard, editor-pube

lisher of the industry's trade maga

zine, said that he ‘had surveyed livestock farmeys from every state and had received replies in, almost exact ratio with the income from

| livestock and . livestock products.

His questions and replies he re ceived were: Q—Should production be cone trolled? A—Yes, 26 per. cent; No, 74 percent. “ @=Should payments be made for soil conservation? A—Yes, ‘3 per cént; No, 73: per cent.: : Q—Should the U.S. make “parity payments” to farmers? A-Yes) 23 {per cenit; No. 78 per tent. Q—Would you give up all farm ‘| benefit payments in the interest of a balanced budget? A—Yes, 7: ‘per

Mr. Guard warned against any actiori that would “sweep out from under the farmer every effort at agricultural adjustment. “We cannot demolish 6ne ‘plan without substituting something better,” he said. “We must assure the grower a full degree of economic justice, which he has not:had. We insist on a real and sound farm recovery. But how? I want to answer by suggesting that thé Cone gress should now place by law a very solid floor under the price of all farm products.”

‘Radio Column and Schedule are on Page 16 of this edi- | tion. 3 aan

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