Indianapolis Times, Indianapolis, Marion County, 14 October 1940 — Page 19

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MONDAY, OCT. 14, 1940

BUSINESS

Tax With

Collector Losing Patience a Few Employers in Indiana BUDROW

THE MAN WHO COLLECTS INDIANA'S SHARE of Social security taxes for the Government is out of patience

with a few employers. “The law has now been

Internal Revenue Collector Will H. Smith said,

office can see no reason why t

in effect over four years,” “and this here should be any irregulari-

ties or delay in filing returns or paying the tax. There are, however, several employers who are not filing returns regu-

laly and paying the tax when The law, Mr. Smith points out, provides employers must file a return cvery three months and do so by the end of the month following the close of the quarter. In other words, the July - AugustSeptember quarter returns must be filed by Oct. 31. Emp loyers who fail to do so are served summons to come to Mr. Smith’s office. So far they've done so. But the law provides $1000 fine and a year in jail for those ignoring the summons and convicted of contempt. There haven't been any instances of this happening in Indiana yet. ” ” u THE MAGAZINE, Indiana Food Merchant, warns retailers not to sidetrack the chewing gum item as an insignificant one. Twenty merchants who push chewing gum sales were interviewed. .The fiyst one said his sales on the item always ran to $11,000 a year and sometimes more! The oth"er stores said their sales averaged from $400 on up. The majority reported the best place to sell gum was at the cashier's counter.

Roger Budrow

2 2 2

FOR NINE YEARS now; enterprising and able Lowell Yerex has cperated a profitable airline in Central America, hauling heavy shipments over the tangled tropical forests where there are no railroads, few good roads. His planes haul chicle out of Guatemala for Wrigley and Beechnut companies, metals from interior mines.

If a deal now before the Civil] Aeronautics Authority goes through, | Mr. Yerex will sell his firm TACA | ¢Transportes Aereos Centro Americanos) to a subsidiary of American Export Steamship Line. Business Week . thinks this will start a lively battle for business with Pan American Airways which flies) a regular, main-line route through | Mexico, on down both coasts of| South America. If the TACA deal is approved, American Export is expected to extend its services north through Mexico to the U. S., tapping | the great new markets likely to be| developed under Washington's vast | hemisphere-development plan. = - t-3 ‘ODDS AND ENDS: President | Paul G. Hoffman of Studebaker said | “new industrial plant locations to-| day are affected more by av ailability | of parking space for workmen's cars | than by propinquity to densely| populated areas.” . . . AC Spark Plug | has 7000 employees now compared, to 4950 last year. . Railway Ex-! * press Agency is inaugurating an ac-| cident-prevention campaign among | its drivers. . . . Building permits in| 215 leading cities gained 6.8 per cent the first nine months. this year over last year, best since 1930, Dun & Bradstreet reported today. . . . Stock market operators expect prices will not move much in either direction in the near future until the war * muddle is cleared up and election over.

Paris Bourse Has Private Opening

(U. P.).—The!

VICHY, Oct. 14 Paris Bourse reopened privately at 1 p. m. today, but trading was restricted to Government securities.

The restriction was imposed by | the Government here and entrance

to the Bourse was limited to reg-| istered traders. It was announced | that banks will be allowed to trade | on the Bourse next week.

LOCAL ISSUES

The following quotations by the Indianapolis Bond & Share Corp. do not represent actual price ot -offerings, but merely indicate the approximate market level, based on buying and selling quotations of recent transactions.

Stocks pd

V2 . 54 7

‘Ask

Central Ind Pow Hook Drug Inc com. Home T&T Ft Wayne Ind Asso Tel Co $6 Ind & Mch Elec 70 Ind Gen Serv 6%pid Ind Hydro Elec 7% pfd

Cia 14 qn pid. 50 107

m..... *Indpls pid *Indpls P&L 6'27% pf Indpls Water 5% bid Lincoln Nat Life Inc com..... N Ind Pub Serv 5!27% pfd N Ind Pub Serv 67 pfd N Ind Pub Serv 77% Progress Laundry com Pub Serv Cn of Ind 6%

sEx-dividend. St ERdly Bonds

American Loan 3s 51 American Loan 6 Citizens Ind 3s Tus 81. i -Revnelds-Taylor oa 8 Sans &T Ft Wayne 5!2s ...

1 . daughter and is building a home

ner Packing Co 4'2s 59. Sanne] 5&10 Stores 5 50 ...10 Muncie Water Works 5s 65. Nat Silk Hosiery 5s 42 N Ind Soy us 69 Te LL Co ot ie 4s 69. § ter Wis oe 5... Term Corp 58 Tre x-dividend —————————————

WAGON WHEAT lis grain elevators are paying PD 5 79c: subject to market change; other dts on their merits. Casn 2

{Accountants Wednesday

{ner will be at 6:30 p. m.

‘Hoosier Heads

8 |__Michigan crates,

it is due.”

STATE AGENCY NAMES 17 AIDS

Unemployment Division Board Creates New Council.

Seventeen persons have been named by the State Unemployment Compensation Board as its advisers. Among the reasons for establishing

2 ’ : A the advisory council was “to insure

impartiality, neutrality and freedom from political influence in the administration of the division,” the Board said. Those appointed in Indianapolis are W. Rowland Allen, L. S. Ayres & Co. personnel director; Slater Bartlow, supervisor .of vocational rehabilitation for State Department of Public Instruction; C. Harvey Bradley, president of W. J. Holiday & Co.; Charles W. Kern, president of Indiana State Building and Construction Trades Council; Mrs.

Clarence F. Merrell, president of In- E

diana League of Women Voters; Martin H. Miller, state legislative representative for Brotherhood of Railroad Trainmen; James Robb, regional director of Congress of Industrial Organizations and Steel Workers = Organizing Committee; William Sayer, State Adjutant ot the American Legion, and Charles C. Winegardner, Diamond Chain & |¢ Manufacturing Co. vice president. Other members are Miss Margaret Burnett, Wilson Brothers personnel director, South Bend; Donald DuShane, superintendent of Columbus, Ind., public school and president of National Education Association; F.!¢ M. Gillies, superintendent of Inland {Steel Co., East Chicago; Jo C. | Johnston, president of Charles H. Johnston Sons Co. Greensburg wholesale grocers; James E. McCarthy, dean of Notre Dame's college of commerce, South Bend; Miss Lillian E. Marsh, Brooks Construction Co., secretary-treasurer, Ft. Wayne;

‘Ralph R. Teetor, vice president of |g

Perfect Circle Co. Hagerstown; [John A. Watkins, state commander {of the American Legion, Bloomfield.

Indiana Bankers Plan Three Meetings

Members of the Indiana Bankers Association will hold three meetings G this week—at Crawfordsville Country Club tomorrow, Indianapolis! Country Club Wednes sday and at Abe Martin Lodge in Brown County Thursday. George V. Kendall, acting presi-

dent of Wabash College, is to ad-|'

dress the Crawfordsville group on “A French Village When the War | Began.” Richard F. Mills of the | Fletcher Trust Co. will give us a humorous address entitled “Visitors,” for the Indianapolis meeting. Thomas O'Malley - of Chicago, Wage-Hour regional director, is to lead a round-table discussion at the Brown County meeting. Paul N. Bogart, president of the bankers’ fs association, will speak at all three] meetings.

Wall Street Editor To Speak Here

Arundel Cotter, industrial editor of the Wall Street Journal, is to speak to the Indianapolis chapter of the National Association of Costs night at Hotel Antlers. His subject is, “The Analyst Looks at Accounting.” Din-

R C. A. Manufacturing Times Special CAMDEN, N. J, Oct. 14—E. W. Ritter, radio tube manufacturing for RCA Manufacturing. « Co, has heen elected vice president in charge of all the company’s manufacturing land production engineer activities. Mr. Ritter was born in 1902 at

former general manager of

e | Getto S R

Orangeville, Ind., received his B. s' and E. E. degrees from Purdue University and in 1925 joined the engi- | neering staff of the Nela Park | branch of General Electric Co. He transferred to the research and development engineering division of RCA Radiotron in 1930, becoming head of the department in

211934. In 1938 he was made manager

of the entire Radiotron division.

: Early this year he was advanced to

manager of engineering of RCA Manufacturing Co. in addition to Radiotron activities.

Simpson Heads Sales For Freihofer Bakery

Thomas Simpson, who has spent 16 years in the bakery business here and in Washington, Pittsburgh and other eastern Pennsylvania cities, has been named genszral sales manager for Freihofer Baking Co. Mr. Simpson is married, has one

in the Forest Manor addition.

FOOD PRICES

CHICAGQ. Oct. 14 (U. P.).—Peaches— Michigan [Elbertas, bu., 50@85c. Apples— Wisconsin Mackintosh, bu., $1.85@2. Celery 40@60c. Tomatoes — California, lugs. [email protected]. Spinach—Illibu., 25@60c. Caulifiower—Colorado, 65@85c. Carrots — New Mexico, s, $3.50. Lettuce—California, crates, 5 50@ 4.50. Sweet Potatoes—Tennessee, bu., 90c@$1.30. Onions (50-1b. sacks)—Minnesota Yellows, 55c; Illinois Yellows, 50@ 60c; Colorado Sweet Spanish, 97!2c@$1; Utah

J, yellow shelled, 60c; 2 White shelled. 68c; No. 2 white oats, %38c.

1893

of continuous personal service to

WE WELCOME YOUR BUSINESS

THE UNION TR

Capital and Sur

Member Federal Deposit Insurance Corporation

Branch—1225 K

Over 47 Years

Sweet Spanish, 97!2c@8$l.

thiousands of satisfied customers

UST COMPANY

plus $3,000,000.00

entucky ,Avenue

[

THE INDIANAPOLIS TIMES

1941 Dodge Makes Debut Here

PAGE 19

The new 1941 Dodge was being shown in Indianapolis salesrooms today, featuring new body lines emphasized by the rakishly tilted windshield, graceful slant of the rear, clean sides and massive, speedlined

fenders.

The two-door Brougham is shown above.

N. Y. STOCKS

Net Last Change Adams-Mil Air Reduc

Allied Mills .... Allis-Chal

aren a8 Woolen pf . conda 2234 ae Ill pr pf 441 Asso_Dry Gus. 63: Asso Inv pf.... 88% Atchison pf .... 50% Atlas Corp Aust Nich pr A 16% se Bee

1653 4Ys 23

Bald Loco ct... Balt & Ohio... Beatrice Cr ... Bendix Avn ....

Boein

ullard Burlington Ny or Bush T B Butler a oon

37% 305, 23, 4014 na 2815 11

CRpuon Mills .. 37'% Celote Tia Certain i 6 pr. 30° 8 Ches ve Ches £ Chic as Chrysler 79 Six I &PF 93; Climax Moly Co 232 Colgate-P-P .. 11 Com Inv Tr .. 36% Cons Copprmns 6!4 Cons Edison _. 25% Cons Boron pf.107 Container 16 Cont Mot, cont Oil Del .. 1754 Copweld Stl .. 193% Corn Ex Bnk . 5012 gon Prod . 7%

Coty Inter .... Crane Co Crown Cork . Crucible St new Crucible pf new

V2 20% 241, 37a 8212

Deere pf 2 Diam M pf .e. 39 39 Duques Lr pf ..117 117 —E— East Air Lines, 34 East Kod pf Elec Auto-L ... 7 ng ‘Pub S Eng P S 3 pf.. Ex-cell-o

Fid pon verses 3 Flintkot Fost- Wheel pf.’

Gaylord Cont .. 12 G 34,

Floste. .n 34%a QEza Ss 35 Moto 4912

Motors pf 125 125 21

STOCKS EASE AFTER IRREGULAR GAINS

NEW YORK, Oct. 14 (U. P.).— Stocks turned easier in afternoon trading today after an irregular advance. Minor selling came into the market after initial gains failed to bring

‘new buying. Before the end of the |

third hour, a majority of issues | registered minor declines. Steel shares, strong on the open-! ing when U. S. Steel gainad a point, (slipped back. Coppers dipped to previous closing levels. Motors eased to just above the previous close. Chemicals were easier and declines were noted in

the utility, railroad, mercantile and st

oil sections. Firmness in Japanese bonds, despite easiness Axis Power issues,

in listed bonds.

4 | Menth Ago | Year Ago

Kennecott a

, (Lone Star Cem 3515 W I we

IN 1 | NYCESHT,

By UNITED PRESS

DOW-JONES STOCK AVERAGES 30 INDUSTRIALS +0.65 —0.39 +1.06 +0.46

Month AZO ....ssvesvescans. Year Ago High, 1940, 152.80; low, 111.84. High, 1939, 155.92; low, 121.44; 20 RAILROADS

Month Ago . Year Ago High, 1940, High, 1939,

32.67; low, 22.14, 35.90 low, 24.14. 15 UTILITIES 21.56 21.82 21.86 25.34 low, 18.03. low, 20.71.

Week Ago

High, High,

1940, 1939,

26.45; 2.10;

Net Lag! Change +1- 18 + 3

. High Low Graham-Pai Gt North pf. * anan win Fl oe 37 on 12% wfc Business M.15534 15534 Harvester.. 473g 473g Harv pf 16235 16233 Nickel 7

21%

Houd-Her Houd-Her

37 12 :

Kelsey Hayes B . na

30 25% 312

Kresge , 3, Kroger G&B . \ 31% 2114 2038 43. 38% 10 20%

25 472 Masonite Corp 29 McKsn & Robns Melville Sh ... 2714 Mesta Mach ... 323; Midland Pet .. 353s Midland Bu oz. Wi Minn H

. 3-18

| Mont Ward ... 40%: 40%

Acme Biscuit Dairy .... Distillers Lead

Mal&Stl C Tea =

. 19% 191%

Ww. PS

-. -»

Y Sentral of N Y NH&H pf . (Norf & West |No Amer 6 pf .. INo Am Avn ....

®t

Gd ®

++i: LL

A ©

Otis Steel

Pac Am Fish ... Pacific Ltg {Packard .... 5 Pan Am Airways 157 8 Pathe Pilm . 102 Patino Mines .. Penney Penn RR {Peoples Dr Pere Mgt pr pf. 42 Pfeiffer Brew .. 12 Phelps Dodge .. Pitts Sc & B ... Press. St! Cer .. Procter & G ... Pub Serv . Puh Ser 5 pf ... {Pullman [Pure Oil

{Purity Bak iv...

Ravonier Reading 1 nf .. Reo Mat vtec .: Ren Stl . Sih. Reyn Tob B ...

Safeway 5 pf . 106 2 10674 . 8

tions edged up as much as a point |std O

on small buying. British Government

Exchange under leadership of the War Loan 3!2s, which touched the highest level since 1938.

CORN, WHEAT SELL SOMEWHAT HIGHER :

CHICAGO, Oct. 14 (U.P.).—Wheat |; futures maintained a firm tone in |

Trade today, {from outside gains, fractionally higher. ranged from steady to strong. At the end of the first hour, wheat was i to 3 cent higher, December 84'4. Corn was up 3 to 3, cent, oats ¥% to 14 cent higher and rye up 4 cent. Soy beans showed net gains of 1% to 13 cents. Elevator buying was a feature of the early corn trade, particularly in the July position which moved to a new season's top. The December delivery encountered opposition at around 60 cents.

DAILY PRICE INDEX

NEW YORK, Oct. 14 (U. P.).— Dun & Bradstreet’s daily weighted price index of 30 basic commodities, compiled for United Press: (1930-32 average equals 100)

Friday

reacting moderately | but holding |

{Week ago

Month ago .... Year ago . 1940 High (Jan. 2) .. 1940 Low (Aug. 19)

LOCAL PRODUCE

Heavy breed hens, 12c; bareback hens, , 8c; Bares Leghorn . Barred and White Rock springers, 13c; other colored heavy breed springers, 12c; Leghorn springers. llc; bareback springers, 9c: old oosters, 6c. Indiana Grade A large eggs, 24c; diana Grade medium Lees. 20c; small . 13c: No. 16¢c. No. 2 0n'2@ 2c

, 1a S21aa 33; . Butterfat—No. 1, 28c: No. (Country pickup prices ened by the Wadley Co.)

FOREIGN EXCHANGE

NEW YORK, Oct. 14 (U. P.).--Follow-ing are noon cable rates on major currencies Cable Rates Net Che. England (pound) $4.033 . Canada (dollar) taly (lira) . Finland (markka) Switzerland (franc)

In-

see

Sweden (krone) apan (ven) Mexica (nes)

bonds | strengthened on the London Stock |k

Sym G ww vee

Texas Corp

Und Ell Fish .. Junion Cath Rare

Un xl grate pun, Air Lanes ie

iy a Ss Ps «0% S Rubber ... vo 3 Steel ; Us Steel pf .

| Vanadium

Other grains |

cee y Ta

Woodward Iron 3 Fi 33 3s

Woolworth

Yellow Tr Young Sheet .. Young Stl Dr..

Vg a) % 1915 :

defense traffic in addition to its

cording to M. J. Gormley, executive assistant of the Association of |Net

pimerican Railroads.

er at Atlantic ports at their annual meeting here that the Port of New York has handled export

of the World War peak in recent months, yet at all times had surplus traffic facilities. “We are certain,” he said, “that the railroad plant will be kept ahead of demands ‘of traffic and the transportation involved in the defense program will not interfere in any way with the transportation of ordinary commercial traffic.” Mr. Gormley estimated that the preparedness program, including the movement of all raw materials and finished products over the next two years for 3.000,000 soldiers would average only 25,396 carloads weekly or approximately 4 per cent of average 1939 weekly loadings. Mr. Gormley admitted the confusion of the 1917-1918 war period,

. | when more than 200,000 freight cars,

or about 25 per cent of ghe total

* supply, had been tied up in yards

| Good— 500- 750.

450 lbs. 4

35! fed steers and yearlings steady;

1 414,95:

traffic approximating 85 per cent,

PRICES ON HOGS ARE UNCHANGED

Top Remains at $6.50 Here; Total of 11,213 -Hogs At Stockyards.

Hogs sold at the same prices today as they did Saturday at: the Indianapolis stockyards, the Agricultural Marketing Service reported. The top price remained at $6.50 paid for good and choice 230 to 240-pounders. The Marketing Service reported 1084 salable cattle were shipped here today, 742 calves, 11,213 hogs and 1432 sheep.

Repts. 12.692 6.50 2700 6.50 11,213 Packing Sows

Oct. 8

Top Rcpts.|Oct. ..$ 6.45 9836/11 .., 9 o 6.35 869712 10 * 6.35 938214 .... Barrows and Gills 20- 140.% 5 160. 180. 200. 220. 240. 270. 300.

Top

. 8.00

5.705.60 §

- 6.30] 30- 500.. 4.75- 5.75 | Slaughter Pigs 6.10] 90- 120.. 4.75- 5.10 Cattle & Vealers Cy i

Bulls ) Yearlings exeingen) 12.00- -12.751 LOORTH °¢ 6.75-

12.25-13.25! 328

Sausage 12.50-13.50 n

So iT

M 6.40, 2

Slaughter Choice— 750- 900. 900-1100. 1100-1300.

00! ae 900. 12. 50- 18 50] be

2.1 + 10; 20- 1 301 Good and 7, 75-10. s0f choice . nid 50-11. 50 mmon & Jon-1 1300. 7.15-10.50, “0 om 7.50-10.50 730-1100 5.50 7.

Steers, Heifers |

Choice— 509- 750.

mum. 6 25- 1.75/Cu fs 742) 9.25-10.00 9.25-10.00

8.25- 9.25 6.00- 7.25

1 ood— 7.25- 8.25 900- $100. 10.00-11. 00;Commo N=

ediu | 900. 6.25- 7.25 500- “300. 7.75-10.001 Calves {Sie0rs) n— ood and choice— 500-7500. 5.50- "19 aed down 9.00-11.00 edliu Cows 500-900. 8.00- 9.00 Good .... 6.00- 7.00] 200 down 8.25-10.00 Medium. . 5.25- 6.00 Calves, (hcifers)

Cutter and _1Good— common. 4.50- 5.25, 500 down 7.25- 8.25 Canner 3.25- 4.50 Medium — - 500 down 17.50- 8.75 SHEEP AND LAMBS (Receipts, 11372) Good and choice Medium and go Common

2 len {Receipts 2.25| Choice 1185) i 5.00- 800. 10.00-11.25! 330: 1050. Good— Heifers ] 200- 300. Choi 00-1050.

| 8 750~ 900. 11.00-11.75 0a. 500-1000.

Ewes (wooled) Good and choice Common and medium

CHICAGO LIVESTOCK

Hogs—Receipts, 14, poo active to all; ¢ to mostly 10c hjftSers top. $6.70: bulk ‘good and choice 210-300 1bs., $5. 506 6.65; 300-350 1bs., largely $6. [email protected]: most well finished 180-200-1b. lights, [email protected]; good 300-350-1b. packing sows :generally [email protected]; 350$5.65 6; 450-500 lbs, $5.50@ 5.75. Cattle—Receipts, 14,000: calves, 1200; shipper demand narrow bus supply choice to prime

2.75- 3.50 2.00- 2.75

‘offerings curtailed because of Jewish holi-

day later in week; yearlings and light steers predominating; prime offerings absent; less activity on yeariings than well finished weighty bullocks; top, $13.50; vearlings, $13.25: numerous loads, $11.75 12.75: common and medium grades comparatively scarce; bulk 3500 head Western arass run comprised stockers and feeders; these strong to 25c higher with choice valves to $12 and betier: stocker yearlings to $11: medium weight feeders, $10 down; fed yearling fully steady, best, $12.15; cows, firm: most Westerns, $6.50@ $5.20 down: bulls 25¢c lower; best sausage offerings, $7.25; at $11.50. down; very few $12. Sheep—Receipts. 4000; not enough done early on fat lambs to establish market; deck good to choce natives sold at $9.50 to vard traders or fully steady: early prices bid lower; feeder lambs about steady; short double 62-1b. Montana feeders, $9.

OTHER LIVESTOCK

CINCINNATI, Oct. 14 .(U. P.).—Hogs— , 4000; total, 4075; geilve, steady 55; 250-300 lbs., $6.40; 100-140 a 0 Roa 5.35: SOWS, $55.50. Cattle—Salable, 1800; total, 1875: calves, 400: generally steady: cutter to medium grassers [email protected]; medium to good 720-725-1b. heifers, .$9@10; dairy bred cutter cows, $4.50@5; canner cows, $3.50@ sausage bulls, $5.50@7; good and vealers, $11@12; medium, $9.50@

heifers

7. cutters, vealers weak

choice 10.50. Sheep—700; ag¢tive, steady; good lambs, $949. 50; choice ewes and wethers very

scarce. WAYNE, Oct. 14 (U. Ps

8. .. $6.15; “300- 325 1bs., .. $6.05: 350-400 be $6: : 140-150 1bs.. $5.25: 13 : 1bs.. $4.75; 100-120 1bs., roughs, $5.25; stags, $3.75. Calves, Lambs. $8.75. LAFAYETTE, 100 a 15¢ higher;

$4.50° $:1.50.

126- f200 he v. sa. 5a 6: 5: %5002€0_ Ibs. S6.15@6. 45: 260-325 lbs.. $6.05@ 22s: pigs. $5.50 down: roughs, $6 down. Calves, $10@11. Lambs, [email protected]. WARBURG ON F. D. R’S SIDE NEW YORK, Oct. 14 (U. P).— James P. Warburg, New York banker and industrialist, has ‘indorsed the third term candidacy of President Roosevelt because of his “tried and fearless” leadership which, he said, is necessary to guide the nation through the coming days of crisis.

Declares Railroad Industry Has Eliminated 1918 Errors

NEW YORK, Oct. 14 (U. P.).—The railroad industry, profiting by the mistakes of the last World War, is fully capable of handling all national

ordinary . commercial business, ac-

Gormley told members ot the Association of Marine Terminal

by official red tape. He predicted, however, that this situation would not be duplicated inasmuch as the

which is composed of all the main trunk lines, now has all the authority necessary: to meet any situation. “The Association,” Mr. Gormley added, “has an embargo and permit system by the use of which, in case of necessity, congestions can be prevented.”

'|Army Ordnance Association in New York. Its significance was missed in |

1 This latter case is said here at the bs. Commission to result from the man5!

Association of American Railroads, —__

MACHINE TOOL ‘DRAFT’ FACES U. S. INDUSTRY

Defense Commission Plans Will Force Changes, Writer Asserts.

By JOHN W. LOVE Times Special Writer WASHINGTON, Oct. 14—If the Government is going to take the entire output of the American ma-chine-tool industry next year, as William S. Knudsen of the National Defense Advisory Commission says

it will, difficult readjustments will be forced upon the whole or- . ganism of American peacetime production. The Commission is not yet prepared for any such thing. : If \that is the Commission’s intention, it will] have to marshal its requirements in far more definite order than + any of the priorities it has un- | dertaken so far. |" Mr. Knudsen's forecast ‘implies a kind of “M Day” mobilization of national strength in that field in less than three months, but the Commiisison is far from ready for it. Indeed, so vague is the machinetool industry’s understanding of the Commission’s system of priorities or preferences that it set much store by the visit of the British machinetool representatives as a means of getting more order into the American industrial picture. It hopes the British, in persuading the Commission to accept a clear set of schedules for the delivery of the tools] they now need so desperately, will | convince its members of the value | of the same sort of timetable for the requirements in this. country.

i»,

Mr. Knudsen

Plans ‘Unorganized’

Mr. Knudsen’s remark that the | whole 1941 output of the machine- | tool industry would be required was made in a talk last week tec the

most news dispatches For the Government literally to] take the whole output, the whole $450,000,000 worth of lathes, boring mills, shapers, millers, grinders and | so on, would deprive the American | metal-working industry of the re-| newals it always needs in the machine shops and production lines for practically everything made of metal, including: such industries as the electrical, the building equip- | ment, the railroad and the automo- | bile trades. So drastic. a plan could probably not be carried out in the country | as it is now organized, or rather as it is now unorganized. To attempt it will force a scheduling. system *| upon all industry, and this the commission has not started to do. ‘It is | not even adequately scheduling the | tools for defense, according to some | of the people in the tool industry.

Priorities Perplexing Its leaders have been calling for priorities for deliveries since May. | They insisted first to the reluctant | Treasury Secretary Morgenthau | that its members could not serve the national need without knowing | what the Government wanted. After | Mr. Morgenthau turned over the] conversations to the Defense Commission it continued to request priorities, and ohtained a tentative system of preferences. The State Department undertook to sort the export orders. The Defense Commission installed a set of preferential classifications running from “AA” down through 10 or a dozen classes. Defense orders now all get these designations,- but the industry. does not fully understand them.

Output Lags One manufacturer is amazed to find he is expected to deliver tools to the Wright Engine Works in Cincinnati months before that great plant can be finished. Another is ._| reported already to be shipping tools os.. | there, evidently to go into storage.

ufacturer’s habit of getting every-

thing out immediately which has a preference tag attached. If the “entire output” of the industry for 1941 is going to be needed for defense plants, such looseness in deliveries wM cause shortages later on in the industries which serve the civilian needs of the population. The Commission may have in mind a train dispatcher’s type of discipline for the whole of American industry eventually, but its output of orders to date does not match up to the statements of its produc- | ion genius, Mr. Knudsen, nor to the enthusiasms of the inspector-gen-eral, President Roosevelt.

U. S. STATEMENT

WASHINGTON, Oct. 14 (U. P.).—Governmen; expenses and receipts for the current fiscal year through Oct. 11, compared with a year a oF

his .. $2,636 549. 71. "82 $2, 75 Jaz 482. 06 1, 543 .291,513.26 1,577,592,583.57

Expenses Receipts . Gross Def. Def ... Cash Bal . Work. Bal..

.21,367,080.692.56 16, 0 299956. 33

Customs 82,649,357.12 100,716,118.44

' INDIANAPOLIS CLEARING HOUSE Clearings ..........¢ 0c iivinal,, $5,164,000 i 9,450,000

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JEWELRY Co. Ine.

Lions’ Speaker

Capt. A. A. Nicholson, personnel director of the Texas Co., will speak on “America Has Just Begun” at the Lions Club luncheon ‘meeting at the Claypool Hotel Wednesday.

THORPE TO SPEAK HERE NEXT WEEK

Merle Thorpe, editor of Nation's Business magazine, is to speak a wee from Thursday at a luncheon meeting in the Scottish Rite Cathecral on “What Helps Business, | Helps You.”

More than 1000 business and professional men and women are expected to hear Mr. Thorpe. The Indianapolis Chamber of Commerce and Indianapolis Association of Life Underwriters are sponsors. They will be assisted by State Chamber of Commerce, Associated Employers of Indiana, Indianapolis Junior Chamber of Commerge, Indiana Association of Certified Public Accour.tants, Indianapolis Association of Credit Men, Indianapolis chapter of Cost Accountants and Industrial Club of Indianapolis.

{vious week,

RETAIL TRADE REMAINS BRISK

Volume for Midwest 7 to 12 Per Cent Ahead of Last Year.

NEW YORK, Oct. 17 (U. P.).— Retail trade activity last week held around the best levels of the season, Dun & Bradstreet, Inc, ree ported today. Retail volume for the country as a whole was estimated 6 to 70 per

cent above the corresponding 1939 period compared with a year-to-year gain of 7 to 12 per cent in the

‘| previous week.

Although sales volume showed no significant change from the preretailers noted “the effects of larger purchasing power in an increased demand for better grade goods and in a generally higher average unit sale,” the trade authority said. “From producers down to retail shoppers there is said to be in evi= dence a greater willingness to spend. “In heavy industry centers pare ticularly there was said to be an impressive demand for furniture, electrical appliances, hardware, and automobiles, Medium price goods were moving especially well, with shoppers continuing to show a mod-=-erate trading-up tendency. The expanded promotion activity of retailers was also giving increased emphasis to better goods.” On a regional basis, retail trade showed the following percentage gains over a year ago: New England, up 2 to 4: East, 6 to 11; South, 7 to 16; Middle West, 7 to 12: Southwest and Northwest, 3 to 9, and Pacific Coast, 5 to 8. “Wholesalers reported a heavy run of orders again last week,” the trade authority said. “Merchants continued to buy prudently and, in

style goods, only for immediate or nearby needs.

Sealed " proposals

or write:

Indianapolis, Indiana

FOR SALE

FINE, MODERN, CENTRALLY LOCATED BREWERY

With An Annual Capacity of 150,000 Barrels

Ajax Brewing Corporation

Indianapolis, Indiana

LAND—BUILDING— AND EQUIPMENT

up to and including Friday, October 25, 1940. For particulars, see

Ajax Brewing Corporation 1254 South West Street

| will be received

C. C. Hendren, Agent Bloomfield, Indiana

WHILE THE REST OF THE TOWN SLEEPS HAAG’S ALL-NIGHT DRUG STORE 22d and Meridian IS OPEN

Make Woodworking Your Hobby. Use

DELTA NIOTOR DRIVEN TOOLS Exclusively at

VONNEGUT’S

120 E. Washington St.

% Exacting . . . WATCH REPAIRING AT LOWEST PRICES

STANLEY JEWELRY CO.

113 W. Wash, Lincoln Hotel Bldg.

410d rr (1 TTS | 2421 N. Meridjan| St. Ey Vo

Distributors for

U.S. TIRES

FRY

Largest Selection in the State

INDIANA FUR CO.

29-31 East OHIO St.

7 OUTFITTERS ‘0 MEN, WOMEN and CHILDR!

Livings THE MODERN CREDIT STORE

129 W. Wash, 5280s hes:

Is Opposite Us ELINED EPAIRED EFITTED | Women’s

LEON TAILORING CO.

.235 Mass. Ave.

LOANS THE INDIANA TRUST 00,

Allied With The Merchants National Bank

And

FOB PROMPT SATISFACTORY CLEANING SERVICE Just Call BE. 4100

Win. M. LEONARD, Inc.

2119 W. Washington St,

LR Cr

SAXOPHONE Instruction

INDIANA MUSIC CO. 115 E. Ohio St. LL 4088

Per Lesson

USE YOUR CREDIT at

IVIOISSINIS

CLOTHING COMPANY 131 W. Washington St.

—

Children’s

charen's. SCHOOL SHOES, 196

KINNEY’S

138 E. WASHINGTON ST.

Directly Opposite Indiana Theater. USED TIRE BARGAINS esesssedocce T5¢ GOODYEAR SERVICE STORE

Delaware at Walnut RI-1436

Fall Fashions $2 & $3.85 ; LEVINSON

Your Hatter

wr LOANS

on Anything

SACKS BROS.

MACHINIST 18'/, W. South LJ-6212