Indianapolis Times, Indianapolis, Marion County, 2 December 1940 — Page 17
abanmitra og CBRE RY
EB tm RN beets,
BUSINESS
Business Hit New Highs i in November But the Stock Market Dawdled Along By ROGER BUDROW MARKET EXPERTS ARE HOPING FOR a year-end|
rally on ‘the stock market but
be the case. While business has been going great guns and
they’re not sure that such will
ow
setting new highs, the stock market has done nothing. . ‘Stocks at the end of November were at the same levels that prevailed more than two months ago. Bonds behaved
much better and commodities
Here's what the experts believe business will do this month: Within a little more than a week, the production of steel thus far this year will exceed the entire output during all of 1929, hitherto the all-t-i m e record when 60,829,752 net tons of steel were produced. Automobile production will total about 4,625,000 units for the year, a total exceeded pre-
Roger Budrow yjously in 1937
were stronger. ©
PORKER PRICES ARE UNCHANGED
Top Paid Here Is $6.10; 11,600 Hogs Arrive; Vealers Steady. * Hog prices were unchanged at
Indianapolis stockyards today, the Agricultural: Marketing Service re-
when it was 5,016,437 units and 1929 | ported.
when it was 5,621,045 units, the record. Retail trade is rising to record physical volume for the Christmas season. Building will be the best since 1930. ® 8 2 Slightly more than 78 per cent of Indianapolis Power & Light Co.’s preferred stockholders aceepted the utility’s offer to exchange their old
The top paid was $6.10 for good and choice 220 to 23Q-pounders. Vealers also were steady with an $11.50 ‘top. The Op vkeling. Service reported 1700 salable cattle were received, 515 calves, 11,600 hogs and 3260 sheep. .
Repts. 81531
35, 11,909
‘Nov. To Re ts. Nov. Top 26 v3 015 0 eo $6.15 27 ... 615 Ba 1 eve 0.08 28 ... b95 By 1
MACHINE ToL ORDERS EXCEED
Industry: Is Booked Up for ~ More Than Even Next Year’s Capacity.
By JOHN W. LOVE z Times Special Writer CLEVELAND, Dec. 2.—The ma-chine-tool builders have apparently been getting orders lately in a monthly volume that exceeds their orders for entire years in the middie 1930's. “Their association has not been publishing “its statistics of new orders for more than a year, but it is possible from the experience of individual concerns to. reach some idea of what the rush has been this autumn. The industry is booked up for somewhat. more than even next year’s capacity, even after allowing expansions now going on or proposed. The National Acme -Co.’s announcement of 18 months’ orders is probably not exceptional. : The 1941 capacity of the industry is expected to be around $500,000,000 worth of machine tools, and it was| fully reserved a month ago. Production this fall robably a little under $40,000,000 a. month.
Cincinnati Order Is Big i The faster thé members of the industry put up new buildings the
more they seem to get behind in their work. Some of the orders
PLANT GROWTH)
DISPLAY OPENED BY CHEVROLET
National Truck Week and Division’s, 10th Year
High
5Y 2 . 1231 3% 87
Adams EXp..... Air-Way Alaska Yyuneat.;
orp Allesh Lud Sti. Allied Stores. oe Amer Am Inter
Low 6% 5
RZ Year ago
Chevrolet L ommercial Bea, Division here «.s « world’s largest commercial body manufacturer va cdlehrates anniversary.
N.Y. STOCKS
87 UNITED PRESS DOW-JONES STOCK AVERAGES
30 INDUSTRIALS Saturday .... . 181.00 Week ago ... . Month ago ..
+0.9% +0.49 +0,36 | 0,28
High, 1940, 152.80; low, 111.84. High, 1939, 135.92; low, 121.44.
STOCKS CLIMB,
Steel Operations Rise to 96.9 Per Cent of
U.S. SPENDING
THEN SLIP BACK =
Hy
HITS PACE SET IN WORLD WAR
Government's Outlay ‘of 12 , Billion Does Not Include Draft. , By BRUCE CATTON Times Special Writer WASHINGTON, Dec. 2.- You don't realize how tremendous the Government's preparedness camspaign really is until. you compare expenses now with those run up during the first World War. xr ‘Then you discover - that the United States today is actually spending money as (fast as it spent it during the first year of its war effort 23 years ago. For the 12-month period which began last July 1 and ends on June 30,-1941, the Government will spend ° a little more than $12,058,000,000. This d 't include the cost of the draft, which will run the total con=siderably higher. First full fiscal year of. the last war effort began July 1, 1917, and ended June 3Q 1918. In that period, the®U.. S. government laid out a total of $12,697,000,030— practically the same as this ‘year’s expenditures when the draft cosis' are
f
No Guesses. on 1942
Noteworthy is the fact that spending before the 1917 war year hdd been insignificant, compared with the spending that has preceded the current arms campaign. In the year ending June 30, 1917, for instance,
3% Am Mach & F 120% eles Rad 4&5 8 Ts i +. 4 saturday Am Boll 8 ... 15% 15% - eeos | Week ago .... m : ; °++y, |Month ago . am, Smelt .... 45% Vs Year fo High, 1940, 52.67; low, 20.14,
have been of tremendous size, such as the. $20,000,000 requirement for 5.60- 5.70| the Wright Aeronautfcal works in 5.60- 5.65 Cincinnati. Even larger, though 3-83|more of the special-machinery type,
Capacity.
NEW YORK, Dec. 2 (U. P.) ~The “""|stock © market - advanced during
6% per cent or 6 per cent preferred an Am Me stock for the new 5% per cent pre-| 120- 140 § 475-5. ferred stock plus a cash difference.| 143: 150-: i 18
As. a result the underwriters had 00. -80
Ta 4) the total spending was $1,977,000,« 000; the year before that it was $734,000,000 and the year before
that, $760,000,000.
Here Marked.
In celebration of National Truck Week and the 10th anniversary of
sen 5.75
N
30,738 shares of the new preferred stock to sell: to the public. One local brokerage firm reported that about. 95 per cent of the persons holding Indianapolis Power & Light stock in this area accepted the exchange offer, much higher than the national average.
xb ® 8 =# : WHILE THERE haye been petro- Gioc
leum and sugar refineries, pulp and paper mills and a few scattered chemical plants in the South for many years, the great migration of the chemical industry to. the deep South has taken place within the
past six or seven years, according |Gooad
to James A. Lee, managing editor of Shemigal & Metallurgical Engineerg. Mr. Lee told the American Institute of Chemical Engineers at New Orleans today that most of the chemical industrialization has de-
veloped around such cities as Corpus | Good Christi, Houston, Baton Rouge, New M
Orleans, Mobile, Memphis, Chattanooga and Birmingam. He said the Gulf Coast offers a great opportunity to the chemical industry, citing the vast Southern markets, enormous deposits of salt, sulphur, coal, natural gas, petroleum, lime, clay, glass sand, phosphate rock, the supply of labor, power, water, 2 = ”® ODDS AND ENDS: Willys-Over-land Motors in Toledo is negotiating on leasing $1,600,000 of machinery to get going on a $8,750,000 con- + tract for shell parts and munitions by April. . . . The Agriculture Department says that, according to all available information, Soviet Union could export a modest amount of wheat this year if it wants to, because the crop is their best in three years. . . . The Duke of Windsor has appointed an advisory board to study wages in relation to the cost of living in the Bahamas. . oe The
0 a” in it. . . . Secretary reports non-residential
the word “ Perkins
building permits issued this October)
were 224 per cent above last October. . . . American Car & Foundry Co. is working on 93 million dollars worth of war orders for U. S. and
Britain, President Charles J. Hardy|$4@
told stockholders. Bulk of this business is light combat tanks, shell forgings and fuses, bridge pontoons and demolition bombs.
LOCAL ISSUES
uotations by the Indian-
‘The following « are Cor
epolis Bond &
indicate the approximate market level r-based on buying and selling quotations of recent transactions. Stocks Bid Ask
agents Fiance oO. For Som, elt Belt RR & Stk Yas op 5s.. Hook I Ind row. his pfd
N Nomress Laundry Pub Serv Co of Yina "8% pid.. Pub ery Co of Ind 1% id. o Ind G&E 4.8% pid..
Bonds
American Loan 5s 51 American Loan 5s 46 Citizens_Ind Ter ®4V4s 6 1 frabhasReyolds- Tavier - 55 42..
ht fh bd fl fk fd fd ed eh eb fe fd ed bt S
e D 100 i Water Wis 5s 57... rac Term Corp 5s 57
transportation and|®
2|a carlot of calves her father.
- 5.45
5.000.. 5. 5.3 :570- 5. Slaughter Pigs 30.. 5.65- 5.15 90- lies 4.50- 5:40
0.. 5.50- 5.75] Slaughter Cattle & Vealers (Receipts, 1700) Chote 300 $12.50-13. 75] (Yearling, encluden) - - | 900-1100 IE 75-14 4.35/G0 od .$ 6.7 130 © 13.00.14: 3004 130( ; - Me
50- 900. 10.00-12.25] common 4.75- 5.50 £ . 10.25-12.75 ealers 00-1300. 10.25-13.00 00-1500. 10.25-13.00 750-1100. 7.75-10.25 1100-1300. 7.75-10.25/Cull
Common-— 750-1100. 6.25- 7.75 Steers, Heifers
9.24-10.00 9.25-10.00
8.25- 9.25 8.25- 9.25
Choice— 500- 750. 11.25-12.75!Go0d
oqQ— 500- 750. 9. So! 25 oo en
Choi 730- 90¢ 800. 11.25-12. 50!
Goo od and cho 750- 900. 9.75-11.35 Mediu gy ova, 0-11.00 7.50- 9.75
500- 900 - . - - 900... 8. Common— 5 down &95. 10:00 500- 900 6.00- 7.50 ey ove (Heifers) 0| 500 down 7.00- 8.25
Medium | 500 down 7.50- 8.75
Cutter and common 5.00- 6.00] Canner... 4.00- 5.00
SHEEP AND LAMBS (Receipts, 3260) Good and choice Hegium and good Common
Yearling Wethers Good and choice Medium
Ewes (wooled) Good and choice
CHICAGO LIVESTOCK
Receipts, 2 Sons active to all; 10 20c Eins bu
ood and choice 210- *Butcners 36.109 5.25 2 150-170-1b. [underw iralfils, 5 85: 80a, 85: bulk good 330-500-1b. Cattle — Receipts, 16, 000: strictly good er yearlings, steady: supply comparatively small; very liberal run armed d shortfed steers here: we 26¢ lower; mostly weak on kinds seilin at $12 down. ward; early top, $14.75; $15 bid; best yearInigs, $13.50; several goads fed steers, $12.50 on and. better: derate § Supply medium to good grades sold*at $13 down to $9; placement dealers \nterested An Heaey weighty feeders senng own; fed heifers steady ower: To market steady to oak: bulls and vealers steady; both in small supply; weighty bulls to $7.35; vealérs most stockers and feeders steady to choice stock calves up to .50. 8heep—Receipts, 11,0 fat lambs opening barely steady to 10¢ powers 7 decks ood fed Western lambs, $9.40; load lots od to choice grades held $9. 50 ‘and above; good to choice native lambs, $9.40: nothing done early on ly on sheep.
OTHER LIVESTOCK
P10 oo
INIA LI Saiaic. 3500; total. “3680; on, Jao: 300 1 "$6; 140-160 lbs. [email protected]
40 Ibs. $4.25 od SOWS, o 1508: smooth ben =” $5.25; stags, $3.50
oF \{tle—Salable 1 90; total, 1675; calves, salable. 250; good 950-1150-1b. steers, $10.75 @1 hater 30 [email protected]; medium and [email protected]; canners and cutters, basis, [email protected]; to $5; vealers,
300: active ea ood to‘ choice - trucked in nearby Rs, os, [email protected]; choice ewes and Wether "ah a higher: common and medium culls, $5.50; slaughter ewes,
Ind., Dec. i EoEs
Es 2000; choice fed steers and
2 (U, P.)
do not repre-| 300 lbs sent actual io of offer ngs, but merely b
vy 5; -12 1bs. roughs, 85; stags, $3.75. Calves, $11.50 Lambs, $9. : .
will be the order -for Remington’s $73,000,000 small-arms plant to be built near Kansas City, Mo. Among current projects for expansion of the machine-tool industry are those of . Cincinnati Milling Machine of Cincinnati, for a $200,-
a 000 addition, and Cincinnati Bick-
ford’s of $150,000. Lucas Machine Tool of Cleveland, maker of boring
{ mills, is building an extension. War-
ner & Swasey of Cleveland (lathes) are starting to erect their third addition this year, Among smaller projects are those of Consolidated Machine Tool at Rochester, N. Y,, Moore Machinery at Los Angeles, Tllinois Tool Works of Chicago, -Deissler Machine of
5| Greenville, Pa., Michigan Tool at
Detroit, and Waterbury Tool at Waterbury, Conn. Perhaps the largest is that of the Giddings & Lewis Machine Tool Co. at Fond du Lac, Wis, a $2,000,000 addition.
Machine Tools Described
» Machine tools are those primary metal-working machines which remove the metal in chips. They in{clude the lathes, milling machines, grinders, boring mills, shapers and
Oldrill presses, but not power cutters,
presses or saws, forging hammers and miscellaneous machinery. A
number of these other’ tools, such as
forging hamgners and presses, are in great demand for arms production,
@ put they are not: ordinarily counted
in the very exclusive machine-tool industry. The industry’s peak of orders may not be far away, even though the production top in machine tools cannot be reached much before next summer. The manufacturers believe about 85% of the American armament orders have been placed, unless Washington should step up the program as it did last May. Millions of dollars’ worth of new
e| orders are yet to come from Eng-
land, however. Designs May Be ‘Frozen’
In certain tools, such as boring mills, it is practically impossible for a manufacturer of civilian merchandise to get a hew machine, under the rulings of ‘the priorities board in Washington, unless he is running 20: | his old machinery 24 hours a day. That this situation may result in the “freezing” of present designs of
gested in dispatches from Ottawa concerning the stabli2ation of Canadian models of refrigerators, vacuum cleaners, typewriters, bicycles,
sewing machines, washing machines and office machinery. Canadian manufacturers contend {that if they are to be forbidden to imake new models they should be spared American competition. Caon-
i sequently: the deminion is reported |
to be considering practically prohi-
bitive duties for these imports.
much more than automobiles is sug-| 2H
cooking and heating equipment,|$
already chosen in small grain competition, Aberdeen-Angus, Hereford and Shorthorn cattle will be brought into the main arena where tomorrow the grand champion of that competition will be named. The International's first awards went to the nation’s young cattle raisers competing in the junior
, | feeding contests. Evelyn Asay, 18,
of Mt. Carroll, Ill, won the purple ribbon in the Junior steer section
1% | with her grand champion Hereford,
Sargo, which she had chosen from
chased. Max, an all-white Shorthorn, shown by Herbert Rees of
Rs Pleasantville, Iowa, wofi the reserve v4 championship.
i
facilities extended to them ment.
LO}
O'dest 10202 the
HOMES
Many families now enjoy home-ownership. through the
_ Desirable Homes at Attractive Prices. REAL ESTATE DEPARTMENT
“THE UNION TRUST COMPANY
Capital and Surplus $3,000,000.00
NS
LE The CHICAG
by our Real Estate Depart-
on Everything! Diamonds, Watches,
Autos, Cameras, Clothing, Shotguns, Ete.
JEWELRY ||
Grain King to Be Chosen Today At International Exposition):
‘CHICAGO, Dec.'2 (U. P.).—Royalty of the grain world is chosen today at the 41st International Livestock Exposition and Hay and Grain 107 | Show while judges continue the selection of the world's finest livestock. 1 | Kings and lesser rulers of corn and wheat-are selected from among: 5000 exhibitors in the grain division to supplement the list of winners
Gene Moore, 18, Barrington, Ill, won the grand champion’s ribbon in the Junior Barrow contest “on his
290-pound- Hampshire, White King. It was Moore's third successive blue
for a pen of three lambs was won
Grand champions in the Junior contests are eligible for competition in the open classes. -
Paul Pranags Paviowski, Vilna,
~ | Alberta, won the oats championship
with his sample of victory oats, weighing 49.9 pounds per bushel, while the reserve : championship went to D. L. Scott, City Viey, Ontario, for his Alaska variety early oats which weighed 45.1.
Indiana Winners
Indiana winners included: A
“Junior Livestock Feeding' Contest steers:
Shorthorn—(1150 and ‘ander 1400)
| Donald Jessup, Noblesville, “third.
Aberdeen - Angus — (750 - 875) | or Wayne Zehring, Bunker Hill, 0! Carloads Fat Cattle: —(1050-1150) Royal Blazey, Kent-
j land, first.
aberdeen Angus (750-875) fur e University. 3 olled Shorthorn, Junior Yes ling|
CO. Ine.
Bull ‘(calved between Jan. 1,
p ribbon in that division, Grand award |§ Kel by Kenneth Disch, Evansville, Wis. 8
we he Heretords| {=
vision here, Indianapolis Chevrolet dealers tollay opened at the Murat Temple one of the largest displays of commercial equipment ever shown locally. Mayor Reginald Sullivan was to open the exhibition formally at noon.. Each day through Friday the truck Show 3 will run from 10 a. m, until: 9p." Outside oy ‘the industry, few persons realize that the Chevrolet Commercial Body Division here is the world’s largest commercial body manufacturer and that all original body equipment for Chevrolet trucks is built locally.
Allison Motor Shown >
The display also is tied in with the national defense activities of Chevrolet and General Motors. . part of the exhibit will be the first
famed Allison liquid-cooled airplane engine which powers America’ 5 fastest fighter planes.
showing the newest developments in
time publicly, the actual development of Chevrolet truck body construction. Officials of the exhibit will be D. M. Klausmeyer, manager of the
land, Indianapolis city manager; R: T. Mortlock, zone truck manager; and W. J. Hanlon, Indianapolis zone manager.
60 Models Available
Mr. Hanlon said that dealérs from coast to coast are participating in National Truck Week, each dealership staging a 1941 commercial car showing—all Indianapolis made—in its own city. In those cities and here, will be shown a full line of light, medium and heavy-duty models which fea-
economy. comfort, power and durability. The 1941 line has 60 models |& on nine wheelbase lengths. W. E. Fish, managér of the commercial car department, predicts that 1941 will be one of the greatest sales years in truck history, with gains as high as 20 per cent in many sections of the country.
Incorporations ~
American Srojeseional Equipment Cororation, In amendment changSig me to ore easional uipment Cor-
po; Eon Pawar & Lig ht Co., Indian2 olis, amendment authorizing class of sha " CACIAtIYe in : 350.000 shares of 31 ,, inc¢., North Carolina to indiana,
eg. Co., Ime. 245 Lucretia 8t., Huntington: 2 agent, 'C. H. Drew, sane address; 1000 ares without oe value operate i machide shop and Banuiacture Black Betty Coal Mining Co., Inc., First and Hulm Sts., Terre Hate: ;. agent John McCrocklin, same 9 £Ha es without ja ue; and gell Rg
stock consistcorporation,
ims e William 2. john Light Co. of ee 539 W. Washington 8t., adie:
agent, R dat ' Bide. “Ina val fluorescent
3 ue. MR tin e ul ment; Nate C. Weinberg, Ann ve EE Glazer. ile 2 ny.
tration of trade mark, “Beutex’ Mra chemicals, In pre arations 3, oRviDe . ter artermaster De! officers’ ens a Sefertomriin: no cap. at rate social club; Col. Qegrge oO ol. A. C. Jehsen, Lt. C
.The Ei CMa Veos Association of the Smith Cabinet, Iaiufaciuring Co., Inc., Salem,
Sanna “The . Block “Co., waa iis. | 5 registration [1d Block mark BOK High School Fashion Board Blace Llane
B, io hin Laporatories, Davida 8t., Indi lanapolis; Anna g. Keith, Sane ad ess; tin ares pre: fred o A 00 sh comm od of ad to:
nA mat - Acture chemicals, he s, and specialties; fred Con Easy G. Keith B “Fhomas
nt.
Robert * Allison, with=
agency and real fon. William
Goldie Shelburn Ind. istiah bly dian gpolis, amendment of artic J sol B corpor.
tion Conti Feral anoraIaTIer Toe mane
apsdls, a 13508 Yt diana, air St. In-
Iajanepolis. chad ange 8 oot sare E. 11t 8t. C digger i . 81 Syeinia A dianapolis; agent, ' Haro 3355 Broad. oe: Ind hips list: oo oh Sete. kas i Cork, Ne lie Cork, Obed Cork.
LOCAL PRODUCE.
breed hens, 12c: bareback Jens: nd Cre sh, Sees e C Dp! - heavy br. coring. horn en lic; bérebac ; old Ahlers s, 6c. a jaree eggs, 27c;
Grade 23¢; Fr Hires A and i Noes en eggs, Te: y
no grade, 1-Se@sgiae.. uit a ae
a ~ FooD PRICES CAG Dec. 4 (U. 1 PB)
34 He:
1.78. : ots — Caliornia, crates, $2.25 3.25. Lettuce—Caliornia. cre crates, ’ na .78. Sweet Pota 05. Shiohe (
oh 20 re Golorads
et, ead sana,
WAGON
1939, 5%
ners i :
public midwestern showing of .the ¢
commercial body plant; FF, W. Wie-|pee
ture improvements in appearance, $
Int T&T
Jones Lgh 7 pf.101%
to. wholesale con- |}
cines and Nan co] Nat
iL 140 N. Delaware |.
No. Ee
m the Chevrolet Commercial Body Di- [42
an. os Ly) roti Il..
Callahan Zine . ae Campbell Wy . Carriers & Gen. 13 Case 1/
‘2 Colnnese r pf.1199s 11 Cert-td A r pf 373 h 42%
Other exhibits will include one|soTt Ws, synthetic materials and, for the first Corn P
Davison Chem . 81a 832 20% Laseih 139i Ea Air MiP 33% 33% .11431% 1433 43 2 33 Ex-cell-o . 30%: 30% —F— . 98a
24 £ hs 3
Te & Du Pont
East East R
Fed L&T pf . Fed MingS
Foote
Ri; . 18% Freep Stiponr, #
3h
Gen Bronze ...
‘10% 10 : Sas, 26 rE
Do7x%
a
Hecker Prod . Helme Prod .
Ingersol - MY Mariie.; Int Nic Int P&P Int P&I
one
emi
Rennecois
Kinney 5 pf..
Leh y Coal. 7% 21 2178 30%,
Loew’s Loose w Bis pt.1091% eva
Tr 27% St By pi 13% 18 (Glen m Lt 32 8st... oY I 3 a 89% 121 81
33
Nat Aviation: :. 10% 10 Nat Biscuit ... 17 Nat Dairy ..... 1 13%
Jegis- Nat Di
a ept St ... Nat Distillers .. Gypsum . at Steel . N Y Central . NYOnt &
Pac & El. . 2% pac Tin Cons . an
Bel | jrways 15% Paramt Piet . . Parke Davis . Penni
Aeon Ali Shelourn, change of Pub
sacks) Minnesota Fellows M a
»
4 | Union B&P ... 13% ‘a3, | United C
2 v.85 Steel » 3, | Univ Pict oE.1 99
# | Vanadium ..... 34
iy wis i’ RE . | White Es M a Ldn
97% 7 Rend. 1053; +108 ’ 5 0 . 34% 24 -2 Wh Tie
100%. -
++ =e
+++: Fares
100%; -
+H FY
aa a
-. =
-
CAE RE] ESE
+i:
Erne Ease ay
.
HI HEHERL
High, 1939, 35.90; low. 24.14.
Saturday ......... Sessa seavie Week ago. ...... Month age ... Year ago | High, 1940, 26.45; low. 18.08, High, 1939, 27.10; low, 20.71.
ses esscnsnse
28.28
Net Last Change 1% 2373. ‘94 32%a
\ Riek Low Rea Mot ae ; 13% Republic Stl .. | 93% 22% Republic StlpfA 94 94 Reyn Tob B... 33% 32% on Fas 1 304 20% 20% iF 100A tain % 8% 8% es
y 1 yd 8 3% sik —T— :
lexas Corp Thomp, Star ‘of. D Ax
naax..
38 38 18% 18% 20% 23% 5 5
le
Union Carb ... 71% Un Pac pf .... 85 Un Arlt ... 43% Un Air Lines... 16% Un gr i.e. 81 11a . 28 . 10%
t+]
United oe to
es. 13% fl «. 69%
LH LH
—V—
Wy Valworth ..... [5% Vest Un on’ one Bis esting 2 od oi FH 153 ls
1: +
oolworth .e oi
78 32 s 32%
if 1 i
+ DR, FRIEDLAND BUYS
YORK HOTEL HERE
The York Hotel at Illinois and
#| New York Sts. has been purchased
by Dr. S. B. Friedland, Indianapolis
] 4| dentist, who also owns the Michigan and Stratford Hotels here. Pur-
chase price was not disclosed. The York is a four-story, 100room structure which was modernized three years ago at a cost of $75,000. - Dr. Friedland is president of the York Hotel Corp.; his wife,
8! Mrs. Lucia Friedland, is Vice presi-
dent, and Leo Kaminsky, attorney
_|in the transaction, ‘is’ secretary.
U. S. STATEMENT .
WASHINGTON. Dec. 2: (U. P.).—Government expenses and receipts for the current fiscal year through pared with a year say;
This Yea
0.272
1492.5! ie 179,361.00 4.08 a 268. 66 : 32,842.23 17.346,527,347.97 1830,158.24 ~ 148,296,023.38
IDIANAPOLIS CLEARING HOUSE
Customs ..
DAILY PRICE INDEX
NEW YORK, Dec. 2 (U. P.).— Dun & Bradstreet’s daily weighted | price index of 30 basic ea ino compiled for United Press (1930average equals 100): Saturday .....heesecoscnsiens 12419 Week 880 ...cecicensssssess 123.87 Month 880 ...ei.cecosesiinss: 120.75 Year 880 F....acveseiesiace. 118.97 1940 High (Nov. 29)........ 124.32 1940 Low (Aug. 19) 11242
spseepece
P) —Following are on FE Dee. 2 2 on melon o Su enges:
England Jp3undy +. we +f th #4
taly (lira) cee 0 08 land (markka) ‘ eeee. 20200
frane) eee
1 Sweden ( lirona) 2385 apan ¥
n) Mexico ( Beso)”
8 | small gains. Loew's was up. nearly
lon: a tonnage basis. Factory sales of » | were reported at the sixth highest *|best in history for an October. Air2 miles in October, ¢|ment by Senator George that cor-
1°’ {porate taxes might go as high as 30 3 | per cent before the defense program
WHEAT, CORN SELL
| workers within the industry.
ov. 29, com- |:
Last Y $3, [1] 104, 363.08 a $3, ae Sao gle 53 :
morning dealings today and then slipped back from: the highs in afternoon trading. Volume was light. Bethlehem Steel dipped to a small net loss and U, :S. Steel lost nearly all of a rise of nearly a point. Chrysler held a point advance and Du Pont held: 2% points. Westing-
of 1 point. : Rails were mixed, aircrafts easier and. utilities firm. Most oils held
a point in the amusements. Business news continued favor-|; able. Steel operations rose to 96.9 per cent of éapacity, a record high
automobiles for the U. S. in October on record for any month and the lines set a new record in passenger
On the adverse side was a state-
is paid for. They now range to 24 per: cent.
HIGHER AT CHICAGO
- CHICAGO, Dec, 2(U. P.) —~Wheat futures moved irregularly higher on the Board of Trade today under the leadership of the December delivery which set a new high for the season. ~
was .up % to 1% cents, December, 90% cents. Corn was % to % cent higher, oats unchanged to up 3% cent and rye %% cent. higher. Soy beans advanced 2 to ‘% cent.
C. R. EVANS TO HEAD DEFENSE TRAINING
C. R. Evans, International Harvester Co.’s personnel director here, has been appointed Indiana representative of. the training-within-in-dustry secfion of the National Defense Advisory Commission. Mr. Bvans will assist defense {manufacturers in Indiana in secur-
house Electric registered a net loss
At the end of the first hour wheat
Nobody in authority here is even giving a guess about the total that may be spent next year. Certhinly it won't be under this year’s figure, and it will very probably be substantially above it.: Whether it. will touch the 1918 level of $18,500,000,= 000 may be open to question. oe
Easier Said Than Done x
Despite its eagerness to help ‘the British, the Administration seems to be settling into the position that there’s no sense talking about kill ing the Johnson Act (which bars, loans to Britain) until the British have fully mobilized all their ree sources to buy goods in the U. S.. That means the British have a. to think about selling their security holdings in the new world. No . one knows exactly what‘these come to; current guess is that British ine vestments in the United States amount to better than $2,250 ,000,= 000, with probably an equal sum invested in Canada and SmeVHere between. $4,000,000,000 and $5 000,000 in Mexico and South ica. It’s easier to say that these hold ings must be liquidated than to figure out how it can be done smoothly. Some Administration’ experts point out that those South
American holdings’ would certainly have, to be sold ‘the United States, since the ‘Latins couldn’t get hold of the necessary foreign exchange. American investors would have to be persuaded somehow that the. investments
would be good buys—~which - might be a little difficult, .
"Americans Discouraged
Probably $700,000,000 is in South American government bonds, which —except for Argentina—aren't cone sidefed too solid. Mexican and Boe livian- expropriation acts don't en= courage U. S. investors much. Ex change restrictions which often keep investors from taking out thein profits are another depressant. Beyond that, the British basket contains = some important items. ‘About 40 per cent of the total is
railways, public utilities and meat packing houses. There are heavy oil ' investments in Mexico, Vene« zuela and Colombia. Brazilian utili'ties and Chilean nitrate properties
ing skilled workers and in training
WHILE THE REST OF THE TOWN SLEEPS
HAAG'S ALL-NIGHT DRUG STORE : 22d and Meridian IS QPEN
Tne
are also extensively held.
FUR COATS VAAN TET ANI LTR aN]! in the State
INDIANA FUR CO.
29-31 East OHIO St
2421 N. Meridian St. TA. 337%
u. Syne
FOREIGN EXCHANGE]
Nn 4
Exacting . . .
WATCH REPAIRING AT LOWEST PRICES
STANLEY JEWELRY 60.
£138 We Wash. Ginceln Hotel Bids.
" FOR PROMPT SATISFACTORY | * CLEANING
{ Hun Boots”
EE, | EFITTED Wears
LE TAILORING OC co. , 235 Mass. Ave.
| SAXOPHONE Instruction ] = Lesson ‘INDIANA MUSIE 60. ‘115 E. Ohio St.
“$208, Bs 498
invested in Argentina, largely in >