Indianapolis Times, Indianapolis, Marion County, 22 October 1940 — Page 19
TUESDAY, OCT. 22, 1940
BUSINESS
Sales of Indianapolis Retail Stores
Increas
e 10 Per Cent Over Year Ago
TT ————————— By ROGER BUDROW BUSINESS IN INDIANAPOLIS RETAIL STORES
last September Jast year,
month was almost 10 per cent better than it was in according to the Commerce Depart-
ment. The improvement in sales here was better than the
average for the state which September, 1939. The boom in the steel checks in that area to the
was about 5 per cent above
mills at Gary Vitanssd pay extent that the stores’ sales
Spurted about 16 per cent over September a year ago—the most marked increase in the state.
Proof that there is a definite upSWing in the building of homes and industrial plants is shown in the report that lumber and building materials dealers showed the largest gain .of all the various types of business —17.3 per cent. But over a ninemonth period automobile sales are leading with a 14 per cent gain over last year, the department reports. 2 n "
STOKELY-VAN CAMP'S Ray N.
Roger Budrow
PORKER PRIGES ARE UNCHANGED
$6.30 Is Top Here Second
Consecutive Session; 11,752 Arrive.
Hog prices remained unchanged at Indianapolis again today, the Agricultural Marketing Service re. ported. ;
Peterson says Indiana has a big stake in the nine-month merchan-|
dising campaign being launched by| the Canned Pea Marketing Insti-| tute. The nation’s supply of canned peas is more than 28 million cases, with a value (at the canning factories) of 56 million dollars. Indiana's share of this is 922,910 cases. There are at least 12 canning companies in the state which contract for the growing of peas, Mr. Peterson says, and the state’s harvested pea acreage totals 8800 acres. If you are wondering how much good these “Eat More Peas” and “Eat More Meat” campaigns do, notice the report of the American Institute of Meat Packers. In February they concentrated on selling more pork sausage. Result: Sales increased 14 per cent over the same month in 1939. 3 ¥ n=» GENERAL ELECTRIC has developed a new fluoroscopa machine
that looks right through tires and reveals any nails, screws, glass or what-have-you that might be lodged in the casings. station attendant who says “Shall I check your tires?” may say “Shall 1 X-ray your tires?”
2 u 2
ALMOST EVERYBODY has an|{
idea for a “secret weapon” nowadays, it seems to Army and Navy officers who have been flooded with inventions of all sorts of destructive weapons. One of the latest submitted is a torpedo-firing device that will send the missile in a curve so it will boomerang and return (to be used again) to the place where it was fired. That is, if it fails to hit its object. But the inventor did not
disclose how the torpedo was to be c
picked up. u 8 5 IF YOU FLY on one of the Clippers across the Pacific,-you might stop off at Wake Island and eat a meal grown largely in the “bathtub farm.” Farming on the island is done in concrete tanks containing only chemicals and water. * tub” 780 feet square is i built now. 2 " 2 ODDS AND ENDS: Swiss-made fabrics are -now arriving in New York, first since France's capitulation to Germany. . . . The British have finally got around to including several Italian concerns in Latin America. Spain. and other neutral companies in their famous “blacklist” of “enemy owned” eompanies. . . Almost half of America’s exports (427) is now in war or war-related materials, such as iron and steel products, aircraft and parts, metalworking = machinery, non-ferrous metals, explosives, firearms and ammunitions. . . . The New York Stock Exchange's youthful president, William McChesney Martin, who will be 34 on Dec. 17 and is not married, is expecting to be drafted. He'd like to serve as a buck private and is a firm believer in selective service... .. Since Jan. 1 du -Pont has tripled production of nylon for brush bristles, surgical sutures, fishing leaders, violin strings and a growing roster of uses other than hosiery. . . . Boeing Airplane Co. and subsidiaries had $203,020,212 in unfilled orders at the end cf September. Savings by school children in the U. S. rose $257,000 in the year ended June 30, according to the American Bankers Association.
BUSINESS FAILURES
SHOW A DECREASE 7
NEW YORK, Oct. 22 (U. P.). — Business failures in States in the week ended Oct. 17 declined from the level of the preceding week, when they were the most since Aug. 15, Dun & Braastreet, Inc., reported today. Total insolvencies in the latest week amounted to 262 against 270 in the previous week and 277 in the corresponding 1939 week. Failures with liabilities of $5000 or more ag- . gregated 119 compared with 127 in the preceding week and 161 a year
ago.
FOOD PRICES
AGO, Oct. 22 (U, P.). —Apples—Wis-| co HTC Mackintosh. bu., $1.656 2. Celery— Michigan crates, 356 65c. Tomatoes—California lugs, $1.256: 1.50. Spinach—Illinois ou 25@50c. cauliffiower—New York crates, 90c Sl. Carrots—New Mexico crates, $3. Lettuce—California crates, $2.40 3.50. Sweet Potatoes—Tennessee bu., 90c@§l. 35. ions (50-1b. sacks) Illinois yellows, 50@ Jo. Indiana Yellows, 60c. Colorado Sweei
Spanish, $1.
GUARANTEED
IE 22) LIA 43 s. RITE Te
Soon your service“
A new | 3 52.75@b.
the United |1
The same prices that were paid yesterday and Saturday prevailed at { Indianapolis stockyards today. The [top was $6.30 for good and choice 230 to 240-pounders.
The Marketing Service reported 1574 salable cattle were shipped here 467 calves, 11,752 hogs and 1550 sheep.
Top Repts.] 19 ..$ 6.20 11,488 31 .... 137 6.30 i) 23 ee 18 . 6.40 8: Barrows and Gilts 3} 120-140 $8 5.V00- 5.60| 140- 160. 3:30 6.00f 300- 33» : . 90- 6.10{ 330- 350. 00: 6.2 6.10- 6.3 6.156.05=
3000 13,112 11,0%
.$ 6.30 6.30 6.30
Oct. 16
Packing Sows '270- 300 $ 6.10- 6. 6.00- 6.15 5.95- 6.10
5.75- 6.00 5.65- 5.85 5.55- 5.70 6.25 Medium — 6.20) 250-500.. 4.75- 5.75 6.00- 6.10] Slaughter Pigs Medium— | 90- 120.. 4.75- 5.10 160- 200. 5.50- 6.10] Slaughter Cattle & Vealers i 15%) Choice— | Bulls "120-900 $12. 00-13. gu, (Yearlings exsinged! 900- 1100. 12.25-13.25/Good ..$ 6.75- 1.2 1100-1300. i 1-13.10] Sausage. FER a5: 7.00 $0010. 12.40-14,15 Medium... 5.25 6.25 Gooa— utter an oo Pi0. j0s0-jzquiCuerana $uU-1100. 10.50-12.29| ‘ealers 1100-1300. 10.15-12.19Good and 13001000. 1U.¥0-12. ox 9.50-11.50 8.00-10. 75.°, non and B.0U-10.78 opt 00- 7.00
wedium— 150-1100. 1100- 1300. : y. 6.25- 8.00, Feeder Stonker Wahi Heiters ei ER lg 467) 5 olce— . 11,50-12.50 9.95-10.00
—-— 500- 800. 50. 0. 25- 11.50 Se 21450. 9.25-10.00 Hel 8.25- 9.25
Choic Coo 800. 350 00. 11.25-12.00 _800-1050. 6.00- 7.25 e 7.25- 8.25
ium— 750- 900. 10.25-11.25 Sone “he. Medium | 500- YU0. 7.75-10.25, 500- 5- 7.25 Ts (steers)
Common— | 500~ 900. 7.75 Gosd ane choice— own 9.00-11.00
8.00- 9.00
00 Medium . Common S450 5.50 i down 8.25-10.00 Canner .. 3.25- es Bis ves (heifers) 7.25- 8.25
wn 7.50- 8.75
SHEEP AND LAMBS (Receipts, 1550) Good and choice
Ewes (wool d Good and choice 0) 2.75- 3.50
2.06- 2.75
CHICAGO LI VESTOCK
Hogs—Receipts, 15,000; slow, early trade mostly steady, some interests bidding 5@ 10c iower. top. $6.45; most 200-350-lb. outchers, $6.30w6.40; well hinished 1%0-200-ib. lights, [email protected]; smooth packing sows, los. down, [email protected]; heavier weights,
Cattle Receipts, 8000; calves, 1000: strictly good and choice steers and yearlings moderately active, steaay to strong but uneven and instances higner; other grades less active but around steady; not many weighty cattle 1n crop; nest 1125-1b. weignts, $13.90: load or so held above: strictly choice 1011-ib. yearlings at new nigh of $13.75; heifers relatively scarce; tea kinds fully steady at [email protected]; vest, $12.15; otners, slow; beef cows steaay to weak; canners and cutters in increased supply; weak to loc lower; weighty bulls steady up to $7.15; others weak to lower; vealers strong with more choice at $11.50; around. 500 Western grassers in fresh receipts: stocker trade firm. Sheep—Receipts, 3000; lambs mostly steady to 15¢ higner; top 25c up late; few choice sorted native topped $9.65 to city butchers; load good to choice Montana feeding lambs, $9.25 ughtly sorted; today’s trade fat lambs opening fully steady; early sales good to choice natives to packers, $9.40; some held higher; 3 decks good to choice 97-lb. medium ‘pelt fed lambs, $8.75; few, $8.50; nothing done early on other classes.
OTHER LIVESTOCK
CINCINNATI, Oct. 22 (U. P.).—Hog Salanle, 4000; active, generally steady Ah Monday; 180-200 1bs., $6. 15; 160-180 1Ibs., $6; 140-160 lbs., [email protected]° 100-140 1bs., 34.605. 35; most good packing SOWS, $5@ 5.50; smooth lightweights,. $5.75. Cattle—Salable, 500; calves, 350; mostly steady on all grades and classes represented but slow on most steer and heifer offerings eligible to sell $8.50 down: canner to medium steers and heifers around $5.50 @8.50; 1070-1b. steers and 890-lb. weights at $8. 25: vealers steady to easier; common to good kind around [email protected]. Sheep—Salable, 800; slow. generally weak to 25¢ lower than Monday: nearby lamzs, [email protected]; small lot c wethers $9. 50: Hperatl offerings, $7. [email protected] LAFAYETTE I "22 (U —Hog ket steady: 160-200 1bs., 5. sas 90: "300250 lbs.. [email protected]; 250-325 lbs., [email protected]: $5.50 down: roughs, '$5.75 3 Wai [email protected]. Lambs, 8.75 . WAYNE, Oct. 22 (U. P @15¢c Na 220-240 Jus .15; 0- $6:
cesesesse
late Monday fat
oice ewes and umbers weighty
: 4. stags, $4. Calves, $11.50.
BROWN CO. PLANS $2,000,000 OUTLAY
PORTLAND, Me., Oct. 22 (U. P.). —Federal Judge John A. Peters has confirmed a plan for reorganization of the Brown Co. $40,000,000 New England paper and pulp concern. A company spokesman said that as a result of the confirmation the company will spend more than $2,000,000 in New England improving its plants.
U. S. STATEMENT
WASHINGTON, Oct. 22 (U, P,).—Government expenses and receipts for the current fiscal year through Oct. 19, as compared with a year ago This Year ast Year Expenses $2. gos 210. BL 73 $2 a7. 338: 801. st Receipts 55.008
Grass Def.. I 1 Net Def. .. Cash Bal.. 54. Work Bal. . 1 329.160, 483. 49 1, Pub Debt. .44,808.409.182.93 40.963.600. 257. 07 Gold Res...21,424,501,650.35 17,101,033,770.70 Customs 89,398.719.90 109,141,525.64
INDIANAPOLIS CLEARING HOUSE
Clearings’ ...ive00e. Ceaser rey $3,254,000 Debits 9,107,000
LOANS
The CHICAG
146 EAST WASHINGTQN ST.
Olden 1 Loan Be kote In
on on Everything!
Diamonds, Watches,
Autos, Cameras, Clothing, Shotguns, Ete. JEWELRY CO. INC.
pik
LR ti a
' |conceivably be mustered,
THE INDIANAPOLIS TIMES
Raids Hamper British Plane Output
PAGE 19
PRODUCTION OF AIRCRAFT LAGS
Temporary, Nazis May Keep Lead.
Times Special
duction still remains the key to success in this Battle of Britian. That is currently the candid opinion of the London Sunday Dispatch:
falls below its maximum possible output, there can be little hope for victory. Planes are the complete key to this war, and upon their production depends the future.” The outlook for achievement of this maximum output and eventual parity in plane production with Germany does not look too bright at the moment. Output in one airplane factory of 1500 workers has
raids have driven nightshift workers to the shelters. Recently, during one week, 80,000 working ‘hours were lost by a night shift reluctant to continue work during a raid in their 95 per cent plate-glass factory. The result was a series of nine-hour periods spent in air raid shelters. According to several workers and managers, this situation is occurring in more than one factory. Figures Are Secret Even if this slow-down "is only temporary, it is odubtful whether numerical equality with Germany will be achieved for a long time to come. On the basis of cold figures the enormous head start gained by Germany prior to August, 1940, still remains great. No actual figures, only percentages, have been released by Britain's Ministry of Aircraft Production during the past year stating her airplane output. It is known that Germany’s aim was to have an air strength of 8200 front-line machines when she clashed with Britain, and behind these a reserve of 100 per cent.
official total of German airplanes shot down in campaigns to date.
Head Start Helps
These 23,900 airplanes which can indicates that Germany at the start of her
: aerial blitz of four weeks ago was
at least as strong numerically as in September, 1939. During the past four weeks German’s aircraft production, like Britain’s, has suffered from intensive night raids. Yet because she possesses such a bulge in planes already produced, the night bombing now taking place is not quite the serious problem it is to England. American airplanes which England is beginning to receive in greater quantities will help Britain immeasurably.
Use French Plants
In spite of Lord Beaverbrook'’s statement that the flow of airplanes from the U. S. gives renewed confidence, this flow will not be more than a trickle until spring. By that time Germany may well have the French aircraft -industry reorganized and able to produce 200 a month to partly offset the advantage of American planes. Pilots of the Royal Air Force are the ray of light in this gloomy picture. They have generally proven far superior to the German airmen. But if they fail to smash the German aircraft industry before deep winter sets in, England by April must face the fact that though her own output will have increased — 12,000 new planes will be ddded to the Luftwaffe.
LOCAL PRODUCE
Heavy breed hens, 12c: bareback hens, 11c: Leghorn hens, 8c: bareback Leghorn hens, 8c; Barred and White Rock springers, 13c: other colored heavy breed springers, 12c; Leghorn springers. lic; bareback sprinegers, 9c¢:-eld roosters, 6c. Indiana Grade A large eggs, 24c; Indiana Grade A medium eggs, 20c; small Grade A
By 105 vids HAE No. 3, 3012@ te a's No.
28c: 27c. (Country oof 7 pricds quoted By the Wadley Ei oN
Even If Slow-Down Proves,
A LONDON, Oct. 22.—Aircraft pro-| Am
“If Britain's aircraft production|g
dropped to a new low because &iric
‘Gen Foods
As for losses, 6500 is one near-|I
On production rate of their aircraft factories, the belligerents stake their chances of ¢ victory.
N.Y. STOCKS
Net gh, Low Last Change Air Reduce . 40% 403% 43
Allied Stores .. Am Airlines A 5s s Hide & Lf 30% P&L 6 pf 5 Rad & S S. : Roll Mill .. 12% Smelt : 4175 Stl Fdies .. . 26a Water W .. 9% Zinc or} pf. 5434 Armour II . 47 Atl Refining .. 2154 Atlas Corp .... 1 Aviation Corp . 4%
ws Be 155
44
Bald Loco ct .. 16%
X BRlyn & '@ Tr a i
Crmphel wv «oo 1434 Ches Oh 4034
Chi pr T ‘en | 133, Chickasha . 107g Chrysler 8034 47 282 . 32 . 28% 7s Comwlth So “pf. ons Aircraft .. 23 Cons Cppermns Cons Cont Cont 5 Cont Corn Coty .. Crane Co cv i Crucible St ... Crucible pf .... Curtiss Wr ....
Deere & Co ... Diam M pf Douglas Airc . 84 84 Dow Chem ....1417 1417; Pont ....: 1.169% 169% —— East Air Lines.. 35'2 35%; East Kodak .. 1341s 134, Elec Music Ind. Ds 16 - Elec Pwr&Lt .. Ya 51a Se 427 147, Grime 673 341s . 39% Gen G&E A ... 3 Gen Motors . 13% Goodrich 12% Graham- Faige.. . 9-16 Granby 5'2
. 20% . 38
Fair Morse .... Firestone T ...
427 147s
67s 34's 39s Js 495
Gen Baking ... G Electric...
se ffs Homestake .... 473 473% Hud & Man Pf. 3Vs Hudson Motor... 4% 4% A III Central 8 Ind Rayon . 25%, 88 V2 28% 38 ny, 95° i Lotknesd Air’cft 28'2 Loft 23
os 197%
Lou & Nash ... 603%
Int RC Am pf.
Jones & L 7 pf 95
281% 227s 197s 60%
2812 227 19% 603s
5%
By UNITED PRESS
5 Republic Stl
—M— ; Net High Last Change R45, 9% 4 VY 517 5173 — .Ys 34
Mapp Parry ae
Mont Ward Murphy pf .... 10 Murray . 15%
Nash-Kelv
C214 | 3914 oy No fname. 10% Otis Elev 15% —pP . 289 120 :
dy ar Airways 15% Parmelee - Pathe Film’ ee
Ty
+: +H 0 = = NR &
-—
i:
Pitt cole a & a. Pub Serv Pullman
— ~
++:
ees 253%
Cvs a 1Y, «01878 187% — Safeway 5pf ...108 108 Scot Pap 41 3 So Por R. Sug.. South Pac South Ry Spicer pf Square D Std Brands .. Std Brands pf. 119 Std Oil Ind..
Tex G Sul .... Tex PC & O.. Third Av Ry ...
1 Thompson Pr... -D or
TD . 20th Bar Br
Und Ell Fish... 35 Union Carb ... Un Pacific Un Aircraft ... Un Air Lines.. United Corp .. United Corp pf. United Drug .. United Fruit .. Un Gas Imp .. U S Pipe&PF ..
TOD ecceee
Vanadium
Walker (H) Yalwor th 5 Pa El 7 pf. 108 West Md West Air Bke..
2074 261, 1473
2 30%2
SG
Willys Overland . Woodward Iron. 30%
a Xe Yellow Tr ..... 15
- BS EARN a
+1]
-—
15 15
38
Young Sheet .. 38 38 Young Stl Dr. . 10% 194 19%
Federal Reserve Bank Loans Highest Since November, '37
WASHINGTON, Oct. 22 (U.P.).—Commercial, industrial and agricultural loans of Federal Reserve member banks in 101 leading cities rose $50,000,000 in the week ended Oct. 16 to a new high since November, 1937, at $4,722,000,000, the. weekly condition statement of the Reserve
System disclosed today. The latest increase made a net business loans over the past six weeks and lifted outstanding volume to a level $436,000,000 over the comparable 1939 figure. New York and Chicago district banks - accounted for the bulk of the Oct. 16 expansion with gains of $19,000,000 and $16,000,000, respectively. Outstanding loans and invest-
ments of all reporting member banks as of Oct. 16 were placed at $24.402,000,000, up $75,000,000 from the preceding week, with loans up $77,000,000 and investments down $2,000,000. Loans to brokers and dealers expanded with commercial loans, although at a slower pace, rising $19,000,000 at New York and $28,000,000 at all reporting centers. Other classes of loans showed only minor changes for the week. Holdings of U. S. Government direct obligations by all reporting banks showed an increase of $11,000,000 for the week, with Treasury bill holdings up $27,000,000, Treasury notes down $3,000,000 and Government bonds down $13,000,000. Investments in Government - guaranteed funds increased $19,000,000 while holdings of other securities fell $32,000,000.
Reserve balances with Federal Reserve banks were up 372400.000 at $11,845,000,000 and balances with
pu
rise of. $240,000,000 in member bank
domestic banks rose $161,000,000 to $3,405,000,000. Demand deposits-adjusted decreased $42,000,000 at New York banks, but were up $79,000,000 at all reporting centers. while deposits credited to domestic banks rose $327,000,000, with New York institutions accounting for $60,000,000 of the increase.
FOREIGN EXCHANGE
NEW YORK, Oct. 22 (U. P.).—Following are noon cable rates on major currencies: Co aes Net Chg. England (pound) ..... $4.0 Canada (dollar) Italy (lira) Sxiieerland (franc) Sweden (krona) Japan (yen) Mexico (peso)
, | nearly a point.
WALL STREET BETS WILLKIE WINS INDIANA
Roosevelt Given Odds in 29 States; List Three as Doubtful.
By ELMER C. WALZER United Press Financial Editor NEW YORK, Oct. 22.—Betting odds on the Presidential campaign captured the attention of Wall Street today. The C. Woodruff Valentine Co., Wall Street betting commissioners, published the odds for every state in the Union. They ranged from 30 to 1 for Roosevelt in Alabama to 25 to 1 for Willkie in Vermont. Odds in Indiana were quoted T to 5 for Willkie. The Valentine list odds favored Roosevelt in 29 states and Willkie in 16 while three states were listed as 4 to 5 and pick. If these latter are included for Willkie, he would have a total of 277 electoral votes or more than enough to win the election. States favoring Willkie in the odds to carry those states are listed as Indiana, Colorado, Illinois, Iowa, Kansas, Maine, Michigan, Massachuetts, -Nebraska, New Hampshire, New Jersey, North Dakota, Ohio, Pennsylvania, South Dakota and Vermont. The states listed 4 to 5 and pick are Connecticut, New York and Wisconsin. The other states are listed in the Roosevelt column.
STEEL SHARES LEAD ADVANGE
Stocks Sell Irregularly Higher at New York; Du Pont Up $2.
NEW YORK, Oct. 22 (U.P.).— Strength in steel shares featured an irregularly higher stock market during afternoon trading today. Bethlehem reached 82, up 1% and U. S. Steel 61%, up %. Crucible issues and Inland were strong. Fractional gains were registered in most non-ferrous metal issues. Electric power preferred stocks made new highs. Utility common stocks were practically unchanged. Railroads had minor gains. Aircrafts were better with Douglas up Du Pont rose more than 2 points. Lack -of selling pressure rather
vi than any new demand brought the
rally, experts said. War news con-
8 tinued uncertain marketwise and
the London exchange was highly irregular. Domestic .industrial news was favorable. September retail
slsales of automobiles rose as com-
pared with the previous year for the 23d consecutive month. Several corporations issued showing substantial gains.
LOCAL ISSUES
The following quotations by the Indianapolis Bond & Share Corp. do not represent actual price of pRepmes, but merely indicate the approximate arket level based on buying and An quotations of recent transactions. Stocks Bid Agents Finance Corp com.
Ask
Central Ind Pow 7% pid.. Hook Drug Inc co Home T&T Ft ae 1% pid. 3 Ind Asso Tel Co $6 pfd 107 Ind & Mich Elec 777 pfd Ind Gen Serv 67 pfa Ind Hydro ee 7% pid Indpls Gas co Indpls P&L a *Indpls P&L 67» pfd *Indpls P&L 6!27, pfd.. Indpls Water 57 pfd .. Lincoln Nat Life Inc com . N Ind Pub Serv 557% nfd.. N Ind Pub Serv 67% pfd N Ind Pub Serv 77% pid Progress Laundrv com Pub Serv Co of Ind 67% Pub Serv Co of Ind 70% *So Ind G&E 4.87, pfd Terre Haute Elec 6%
-| Union Title Co com
Van Camp Milk pfd Van Camp Milk com..
Bonds
American Loan 5s 51 American Loan 5s 46 Citizens Ind Tel 4'4 1 Crabbs-Revnolds- Taylor Js 42 . Home T&T Ft Wayne 5's .10 Home T&T Ft Wayne 6s 23 Ind Assoc Tel Co, 30 2s 70.
3 Indpls P&L 3%
Indpls Railway Inc 55 67 Indpls Water Co 3'2s 66 Interstate T&T 5!%s 53 Kokomo Water Works 5s 58... Kuhner Packing Co 4'2s 59...100 Morris’ 5&10 Stores 55. 50-.....100 Muncie Water Work : je £5. ad 2
8|N Ind Pub S
N Ind Tel 41 Pub Serv Co = Ind 4s 69. Pub Tel Co 4%2s 55 Richmond Water Wks 5s 3%. Trac Term Corp 5s 57 *Ex-dividend.
Incorporations
King Amusement Co., Indianapolis, change ¢f agent to Glenn Schnarr, 1640 Sharon Ave.. Indianapolis. Illinois Producing Corp.. Illinois corporation. admitted to Indiana to engage in oil production. Philco Corporation, Pennsylvania corToi admitted to Indiana to manufacture machinery and appliances relating to ise of Re steam, natural or manufactured gas uske Lines of Indiana, Inc.. 1008 Odd Fellow Building. Indianapolis: agent, Fred King, same address’ 1000 shares without Ss value: operation of motor trucks and Eoielen ie Herman Buske. Edwin Buske, a Blake Cemetery Association, Inc.. 516 W. Fourth Ave no apital Shock: _ Blake; Robert Ro; er, Albert erbert Ag University lumni Club_ of Terre Haute. Inc.. 674 Ohio St. Haute: no capital stock: C. A. Pierce Calton. J. N. Bivin, and other AAA Dental Laboratories, Inc.. Tilinols corporation amendment changing name to Aaa Eve-Glasses Co. and other amend-
nt me berty Distilizer, Inc., Liberty: agent, Julian C. Rybr. 734 Circle ower, Indianapolis; 5000 shares without par value: manufacture and sell Sistitlizers. automotive parts and accessories, internal combustion engines. etc.: John W. Callaghan. eo. Pohl, Thomas W. Hughes Wayne Electrical. Coniractors Association. Inc.. 406 E. Lewis St.. Ft. Wayne: no capital stock: educational and social: Arthur C. Stein. yard H. Ashton, Gust W. Libbing and other : Gravson Shops. rs w York corporaYon. amendment of articles of incorporaEighth Ward Republican Club, Indianapolis, registration of name as unincorporated association Citizens State Bank, Bristol; reorganized under Financial Institutions Act of 1933; 350 shares of $100 par value. Northwest Coal Sor Blanford; agent, Andy Bozovichor. Blanford; 25 shares no par value; mine and sell coal: John Vrabic, Carl C. Vrabic. Serafina Bonacorsi, Pete Pelich, Andy Bozovishor, Mary Konchor.
Mary Vrabic. The American Legion, Garfield Park,
Terre atiks,
Post 88, Inc., Troy and Carson Aves gianapolish no capital stock; Will rd J. Kelsey, dward Kookindoffer, Leslie
vB. A and others.
COMMERCIAL LOANS To Small and Large Business Organizations
AMERICAN A
START
at Indianapolis
Pennoylvanis and Market Streets
reports |
Merle Thorpe, editor of “Nation’s Business,” will speak at a luncheon meeting Thursday in the Scottish Rite Cathedral. More than 1000. business and professional men and women are expected to hear his talk on “What Helps Business, Helps You.”
CHINA WILL SHIP MORE TUNGSTEN
‘Special Means’ Devised To Evade Japanese Blockade.
CHUNGKING, Oct. 22 (U. P.).— China plans to increase her exports to the United States of the strategically important war ma=terial tungsten by “means specially devised to evade the Japanese blockade,” according to. the Chinese National Resources Commission. The commission disclosed that the United States at present is seeking large quantities of Chinese tungsten for the American defense program. Exports of the metal have been drastically reduced this year because of the Japanese blockade, however. Exports of tungsten dropped to 12,000,000 yuan ($720,000) in the first seven months of 1940, the commission disclosed. In 1939 they amounted to 44,000,000 yuan ($2.640,000) and in 1938 were valued at 50,000,000 yuan ($3,000,0003. The principal gateway at present for China's exports of tungsten is Hongkong, it was revealed. Chinese tungsten is. produced chiefly in Kiangsi, Hunan, Kwangsi and Yunnan provinces. The commission said that in Kiangsi alone, deposits of the metal amount to 4,000,000 tons although annual production in that province totals only 5000 tons. In 1937 the commission |¢ established a mining administration for Kiangsi to promote scientific exploitation of the deposits.
AMERICAN ROLLING MILL WILL EXPAND
MIDDLETOWN, O, Oct. 22 (U. P.).—Charles R. Hook, president of the ‘American Rolling Mill Co., today announced .a $5,300,000 plant improvement program “to meet the direct and indirect needs of defense.” The program provides for the construction here of a four-stand, four-high 54-inch cold reduction mill, buildings and auxiliary equipment at a cost of $3,800,000 and the construction at Hamilton, O., of 25 additional by-product coke ovens at a cost of $1,500,000. A new soaking pit also will be built here.
DAILY PRICE INDEX
NEW YORK, Oct. 22 (U. P).— Dun & Bradstreet’s daily weighted price index of 30 basic commodities, compiled for United Press (1930-32 average equals 100): Yesterday ....s.cnssenvenses 120-30 Week 880 cuseesssseessssece 12010 Month 880 ceorervsssorenss 11708 Year A800 iicivnsvevecveaces 118.56 1940 High (Jan, 2) cc.sseeses 123.34 1940 Low (Aug. 19) ...ce.o.. 112.42
REA TO REPORT ON AMENDMENT
Bond Amortization Period Should Be 40 Years, Minton Believes.
Times Special WASHINGTON, Oct. 22.—Sen=ator Sherman Minton’s office was informed today that Rural Elec= trification Administration officials now are studying the probable effect of an amendment to the REA law, which the Senator has introduced, and will report on it soon. The amendment would increase the amortization period for bonds issued on REA projects from 25 to 40 years. It would cover sums bor= rowed from the . Reconstruction Finance Corporation for REA purposes also. If passed, the 40-year period would be retroactive, since the amendment provides that the REA Administrator is authorized to re~ amortize and extend the time of payment of interest and principal on loans already made. In presenting the amendment, Senator Minton argued that in the original promotion of an REA project the minimum charge to the individual farmer has to be exe tremely high-to meet the amortie zation charges. He maintained that as the project gains age and the farmers experi ence in the use of electricity on the farms the load increases and thus revenues go up and therefore the ability to pay is enhanced. Lengthening the period of amor=~ tization would be very beneficial in the light of these facts the Senator contended.
MILL BUYING AIDS PRICES FOR WHEAT
CHICAGO, Oct. 22 (U. P.). — Mill buying and stop-loss orders carried wheat prices to higher ground -in early dealings on the Board of Trade today. Other grains with the exception of soy beans reflected the upturn. At the end of an hour wheat was 15 to 7 cent higher, December, 8612 cents. Corn was up % to iz Piet oats 14 cent higher ard rye up 3 to 12 cent. Soy beans were une changed to off 1s cent. The stock market tone also helped the wheat market along and all months reached new high ground for the season. Corn trade was light and most of the advance in price sympathetic. Oats prices reached new season's highs on frace tional advances.
WAGON WHEAT
Indianapolis grain elevators are paying for No. 1 wheat. 80c: subject to market change; other grades on their merits. Casi orn. 0. 2 yellow shelled, 62c: 2 white shelled. "0c; No. white oats, % gc.
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Process Speeds Shell-Making
CINCINNATI, Oct. 22 (U. P.).— United Engineering & Foundry Co, of Pittsburgh today announced development of a “revolutionary” hydraulic shell forging press ens= abling the making of a complete shell forging in one operation without extrusion of the steel during the piercing of the billet. The announcement was made at the forum of the American Society of Mechanical Engineers on manu= facture of shells. “By making the complete shell forging in one operation, a second step, or draw press operation, is eliminated,” the announcement said. “Greater accuracy and cone centricity is obtained and a mine mum amount of metal is required in the billet.” The press, which was designed by the Dominion Engineering Works, Ltd., of Canada, an associated come pany, can be used to forge any shell from 75 mm to 155 mm. inclage, the announcement said.
BUSINESS AT A GLANCE
Wentworth Manufacturing Co. 10 cents on common payable Oct. 28 record Oct. 21. Previous payment made Sept. 30 was ‘of similar
amount.
ing out
survey
attitude tion.
GRAIN DEALE
“PUBLIC ENEMY No. 1 knows where to strike
@ Fire seems to know. It singles out for destruction the buildings that are not prepared to meet it. Mutual fire insurance companies help their policyholders to avoid fire by point-
cautions that should be taken to head off fire. Trained fire prevention engineers
properties periodically to maintain the standard required of mutual risks but thesr
This service benefits the policyholder of a mutual company in many ways for it not only insures the continued use of the property but it makes possible the savings which have been returned to mutual policyholders for years without interruption. The resident agent of “Grain Dealers Mutual” listed below can explain how $17,000,000 have been saved and returned to policyholders since the organization of the company.
hazards and indicating the pre-
and inspect mutually insured
is bne of helpfulness and co-opera-
RS NATIONAL
MUTUAL FIRE INSURANCE CO.
Home Office: Indianapolis, Ind.
GRAIN DEALERS MUTUAL AGENCY, INC.
1740 N. Meridian—WA. 2456
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