Indianapolis Times, Indianapolis, Marion County, 3 January 1941 — Page 23

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~ Wed as improving the future prospects

FRIDAY, JAN. 3, 1941

BUSINESS

Federal Reserve Recommendations Regarded as a Curb on| Inflation

By ROGER BUDROW

WALL STREET'S FEAR OR HOPE of inflation has been given another blow in the Federal Reserve recormmend-

ations for tightening control

over excess reserves and re-

“moval of sources of inflation generally. Contrary to the usual procedure, U. S. Government

bonds broke on the announcement. ing of bonds was that the plan might raise money rates and

thereby make Government bonds less attractive.

The Reserve recommendation of higher, taxes as national income rises was seen as detrimental to a stock market rise. With taxes eating more an more into- prof-

its, many stocks]

have lost their attraction. | But the financial district ‘won't make .any ..predictions as to what will happen to the Federal Reserve r e co m menda- : tions. There is ; a feeling that Roger Budrow it was something’ of a trial -balloon and that final disposition will depend upon the ‘reaction of various groups to the \ move. ” » ” a THE BRITISH have sold all their holdings of -57 stocks and 11 bond issues of American corporations since February. Some were sold on

the exchange but most of it was “over-the-counter.” The securities were formerly held by British sub.jects and appropriated by the British Treasury to help defray costs of the war! The British didn’t reveal how much money they obtained in the sales. » ® 2 INDIANA EMPLOYEES received back wages totaling $103,699 during 1940 under the Fair Labor Standards Act, the Wage-Hour ‘Division ; reports. When the law went: into effect on Oct. 24, there were 83,544 employees in “the /state working more. than 40 hours'a week and not receiving time and one-half pay, , the division says.

" 2 2

ODDS AND ENDS: Canada’s oyster farming, started at Prince

STOCK MARKET

Steel, Automobile Shares Recover Equilibrium; . Trade Light.

NEW YORK, Jan. 3 (U. P.).— Steel and automobile shares regained their equilibrium today and gave the stock market an appearance of firmness after a substantial decline late yesterday. Trading con-| tinued light. Bethlehem Steel late | in the| third | hour was at 87%, up 1; U. S| Steel | 68%, up 9%; Chrysler 69 Ts up and General Motors 467%, up 1. These issues were weak in the previous session. Other sections of the mirket also were firm. Small gains vere made by copper, railroad, utility mercantile shares. Loew’s was firm. Johns-Manville | gained slightly in resppbnse to rec- | ord building - figures for [December | and for 1940. } Numerous special issues regis-| tered wide swings on both sites of the market. Universal Pictures first preferred rose 5 points, fo 140, for

nearly 4 points. New highs

Foster Wheeler and | Harbison Walker preferreds. Business news continued favorable, except -carloadings, Which

Automobile production held at a high rate for the holiday week, Retail trade was 8 to 11 per cent over the 1940 period.

Edward Island, is slowly but steadily "expanding to Nova Scotia and New Brunswick. . Instead of “calling all cars” a new. invention

makes it possible for a police radio]

LOAN TO VENEZUELA

station to call one or a particular group: of cars. ,.. A final 13.25 per cenit dividend will be paid Monday ,to creditors of First: National Ba of Hartford City, which suspended March 5, 1933, making 90.25 per cent paid in all. . . American Red Cross is reportedly in the market for 131,600 bushels! of wheat for distribution in Greece. e +... Nearly half of the nation’s | 200 machine tool manufacturers are! now working on defense orders, Iron Agé magazine.said today. «.. Latest report in Berling Busines§ Weeks says, is that more than 100,000 Dutch workers, 70,000 Belgians and an unknown number of Danes are now employed in Germany. . .: Freeport Sulphur Co. announced today it will not increase the prices of its products, “a voluntary contribution to the Government's effort to event an upward spirally of prices.” First stock to appear on the: ticker tape in 1941 was Radio Corp. of America at 4%, same as the last 1940 sale.

BUSINESS AT A GLANCE

By UNITED PRESS Canada Cement Co., Ltd. and subsidiaries year ended Nov. 30 net profit $1,332,220 equal to 4 cents a conimon share vs. $1,475; 1648 or 28 . cents precious year.

Cherry-Burrell €orp. and subsi-

diaries year ended Oct. 31 net in-| t n

come $604,963 equal to $1.20 a com-

{loan were not disclosed, but officials’

mon share vs. $458,068 or 87 cents previous year.

Japan Mexico

N. Y, BANK GRANTS

: CARACAS, Venezuela, Jan, 3 (U. P.)—Completion of a new |credit agreement under which the National

capital to stimulate Venezuela's foreign {rade and permit the|relgase of | &

“frozen” credits in this country was announced here today by the Central -13a’ Nik of Venezuela. The camount._and terms of the of the Central Bank: stated that it! had been obtained ‘under ‘excep-| tionally advantageous conditions.” The agreement, they stated, im-

plies a strengthening of the national | g of

credit * through cancellation frozen” credit balances and will make it possible for thé bank to

and |

Theory behind the sell-{

DIP 1S HALTED

58,1

while Pittsburgh Coal preferred lost 3

made a more than seasonal decline. |2

_| City Bank of New York will provide | ge

One of the nation’s m \jor rail carriers in: reorganization under

president. Illinois Kailroad Co.

Wham (lift); trustee, turns The line will b

Sec. 77 of the Bankruptcy Act, the Chicago & Eastern Illinois Railway Co., lis the first to reiurn to private management as Benjamin over the management to C. T. O'Neal, ils known now as the Chicago & Eastern

N.Y,

High Low

} hy Air Reduc ... 33% 39% Allied Chem! . ..163 63 Allied Mills | vse 183 12a » . 7 /a

more than a year were made by |2D

Am am Am Am Loc

Armstrong ©... 3

Atchison ...... Atlas Corp | o Aviation Carp. . 1 Bald Loco fet. . arnsdall

atn Ir Wit s.

18 Va 8Ya £23 a

Burington | a

Burrou 8. POF bi ci 18,

Butler Bros ... 4% Butte Cop®Z.. 3%

- 48%

Eaterpiilar | x \ ug: 2094

nt Vio

Chain Bell

F pi . 895 Colgate-Ps . Som Inv T? 36 Com Solvents Comwith & Comw > So pf ons La Cons Edison we Cons Edi pf....1 Sent

nt Mot 4 ont Oil mel 3. orn Prod | %

| Gurtiss-Wr | ia.. sl + 30%

Deere & cl >. 20Y4

Diam M of ...

finance future dealings Venezuelan importers and: foreign | sellers. These officials stated that the!

Government now will be able to | Baton

“moclify substantially” its- Qct. 26]

decree: establishing an import: Per-1 pa irmanks bf . mit commission to [regulate the Pid Phen |

amount of foreign exchange avail-| able for import payments,

FOREIGN EXCHAN GE ¢

NEW YORK. Jan, 3 noon cable rates on major cur-|

Eng ad (pound) Cavan (dollar)

Switzerland (franc)

Sweden {10

- (ye ¥ooe0)

‘Miracle Recovery’ Chesrs

French Financial Leaders

VICHY, Jan. 3 (U. P.).—France

year since the collapse of Napoleon III in 1871, but financiallleaders are finding: new grounds for hope in the “miraculous financial recovery” achieved by the nation in the six months between the Armistice and the

.end of 1940,

Investment values, virtually destroyed in the debacle of las! June,

more than recovered their losses in the ensuing half-year. With only raré exceptions all national bonds and major industrial stocks on the Lyons Bourse finished 1940 well above the levels prevailing at the close of the preceding year. With« out exception, they closed higher thédn on the last official day of trading‘in Paris on June 7. 4 One of the most: significant de tlopments was surprising strength Suez Canal shares.. -These securles fluctuated violently . following

trongly late in the year on news of | Britain’s military successes in Libya d Greek victories in Albania. Since the canal is a joint ‘Anglo« ench development, the successes Bf France's former. ally are regard-

of ‘Suez shares. The canals revenues at present are at a low ebb because of the vir tudl stoppage of commercial traffic, but. the company has substantial reserves and the high closing price of its stock for 1940 indicates the French confidence in its future. is

MORTGAGE

To. .Buy, .Build. .cr : Refinance Homes, on. Terns You Will Like

FHA LOANS id UNION TRUST COMPANY.

Capital and Siirplus $3,000,000,00. Member Federal Depdslt Insurance Cerporagian

has just closed her mos disastrous

Suez stock at the end of 1940 was quoted at 17,600 frarics per share, compared with 13,100 wien (rading halted on the Paris market last summer and with 17776 francs at the end of 1939. Among the strictly domes tic securities, - a sizable number showed gains of 50 per cent over closing 1939 levels, including such pivotal!

stocks as Saint Gobaib, Air Liquide, Nash-Kel¢ ... SKF Roller Besting and Tnion Eu- (Na iN

ropeemnne. Schneider & Company,

enjoyed a profitable year 'in | spite!N

of the- war and the German occu-| 3% ca!

pation,” ‘and its’ ‘stocks closed atin '2050 francs a ‘share, up/ 300 francs for the year. French Government rentes also made a strong showing, all but the 4%s8 of 1937 showing good gains in cornparison with both Dec. 29, 1939, and the final day of official {rading on the Paris Bourse. The 4%s closed 1940 at 193%, against 219% at the end of 1939 aml a price of 181% in Paris on Jun, 7 of last

LOANS

on Everything!

Diamonds, 'Watohos, Autos, Camoras, Clothing, Shotguns, ‘Eto, oO JEWEL RY ), Ie.

between | py

cable, ble Rates Net on Gen

| 11 Cent p

| Jones & L 7 pf.105

famed Nat on “Prod. | ‘munitions makers af I.e Creusot,! | Nat Steel

{Owens Ill Glass

162% 117 117 mE

Pon Diiaues- L Bf ...

| Zest Air lines. a3

| East Kodak wis Mig

Auto-L

en Firestone | Cf Foster Whi 1% | Freent-Sulphur. 38%

in :

33%

gen Electric . + 33%

(J. P.).~<Follow- | | Gen

Gen Thtre Eq . | Gimbel Bros .. | Glidden .;. vw: 13

. | Goodyear

Gt Nor ofe ve. 16% 15%

. 13% | Indian Ret

- Int Nickel +. 23%

wees 14% %

—

12%

{Int P & P mie roves

12% 105 —Re TY 17% a 1) . 36% 25%

TY 17%

8% 36%’

Ka ser Jul ene Kelsey-Ha jes A. elsey-Ha yes Be ennecott’ i Kresge 8 3 .

teh P Cém.... L-O-F Glass ... 43 Lockheed Air.. Loew’ Lone Star Cem. Long Bell A IVa | —M— 304 39%

« 52Y% 52% 6% 6% 8% 8Y%2 4 4

1 8%

47 . 22Y2

3% ‘23 29% 6614

66 yo Ns nt. 1084 109% niral . +1 3% 13% 1

4% Acme... 227% Dair 13%

at Dist, hers:

¥ Ship «ooo 29 aah Ohio Oil! ..... aa Otis Elev

16% 46% —Pee 59, 37, 104

/8 46% Pac Coast 2 ot, Packard | .e Param Pict’ .

e Div varker Tat “pit.

Bionteld

Tyad 16%,

10% TI. onl 11%} i {4 Hac or. 8 12 18% 26% 3415

1% 1%

10% 71%

1 11 8%

Stone & Web . Studebalter ...

Texas Corp .... 39%

Thom

4 an : 29

Sada aNg Noe

25%

5% .

‘

Net Change Va Ya Vs ig Ya

Yay 8 Plywood ...

STOCKS

Iy UNITED PRESS

POW: JONES STOCK AVERAGES 3 INDUSTRIALS Yesterday . 130.57 Week Ago ..... eesreseenaens 129.51 Month Ago .. «so 130.33 Year Ago «ees 151.54 High 1940-41, 152.80; Low, 111.84. High 1939, 155.92; Low, 121.44, 20 RAILROADS Yesterday ....ecceocseeveces Week ARO .. vecccnersevanes Month AO ¢ccvove. ese B9.57 Year Ago 32.20 High 1940-41, 32.67; Low, 22.14. High 1939, 35.90; Low, 24.14. 15 UTILITIES Yesterday .... Week Ago ... csesssesarne Month ARO ...cccccenssssnes 20.135 Year Ago 26.07 High 1940-41, 26.45: Low, 18.03. High 1939, 27.10; Low, 20.71.

—i0).56

+0.37 —0.89

28.03 27.58

19.86 19.75

teseessene

Net Low Last Change 84% 84% + Ya 41%, 41% % 16 16 1% 28Ys 4Y2

High Un Pac pf ..... 84% Un Aircraft ... 413% Un Air Lines .. 16 United Corp... 1 United Cp pf .. 28% United Drug ... 4% Un El Coal .... 4% United Fruit .. 70% U 8 Freight ... 9% 23% U S Play Card . 31 U S Smelt pf ..

Vandadium ...

ae -{Va Cargo Ch ...

, {Yellow Tr ..,. 2 Young Sheet

aN Ne

. Willys 0 Overind.

a Zenith Rad ... 14%

| Belt 1t

3s 20% 21% 16%

32Y2 32% «2215 22%

—

Woo a!

. 16% -16% «390% 390% 14%

LOCAL ISSUES

The following otations by the Indianapqlis Bond & Share- Corp. do not repreactual price of offerings. but merely indicate the approximate market level based on buying and selling quotations of recent transact ons. Bia Ask

Sticks Agents Finance Co com,.... 7 9 R i 5" B57

RR. . i i

pfd ...s. «41 19% a conse 11 .103 Ihe ‘3 nd Pub Pig 5% % hc Nm N Ind Pub Serv 6% DP:

N Ind Pub Serv 1 Srogress Laundry

COM.coveenees 10

Van Camp Milk ' Bonds

. American Loan 3 3 cevsaacns 99

American Loan 46 .ioeaeen200 Givizens Ind Pel ah 61.. Home T&T Ft frabhe Re olgs-Tavicr

nd na na [nd Ko Kuhner Pa SEing Morris 5&10 Sto Muncie Water Works 5s Nat 11k Hostery vens Pub Serv + 8 4 ...108 Tel 428

b’ Serv AL or Ina ds 69....106 bar's BRE Sater W 87. ::108 103 Trac Term Oh 857.100 iw *Ex-divide nd,

U. S. STATEMENT.

WASHINGTON, Jan. 3 (U. P.).—Government expenses and receipts for the current fiscal year or Dee. 31, compared with a year a

Xpenses 3 5, ti go. ; 358,

201. 05 $4, iiodet 13. 9 3.303. a2 2,74 3 229 2,023 ‘338,

449,666.98 (i 617,654. 6

. INDJANAPOLIS . CLEARING HOUSE Clearings Debits

Cus 18.558.843 57

_ Dealers Mutual

FIRE-CASUALTY AUTOMOBILE INLAND MARINE INSURANCE for Careful Property Owners INTC TITLE

THE INTISNATOTTS Railroad leores Courts

~+0.49 |

os 14,559,000 |

SHPBUILDERS” JOB IS EQUAL TOWORLD WAR

Employment. Has Advanced 45 Per Cent During "Past Year.

NEW YORK, Jan. 3 (U. P.).—The United States’ shipbuilding industry at the start of 1941 is confronted with a construction program comparable to.the World War years, H. Gerrish Smith, president of the National Council’ of ‘Americar Shipbuilders, declared today. Every shipyard in the country has obtained its share. of the work on

U. 8S. Navy vessels, ‘ships for the Maritime Commission and for private interests, and employment in the yards has risen 45 per cent over a year ago, Mr. Smith asserted. The swift and efficient fulfillment

‘lof all Navy, Maritime and Private

shipbuilding awards, Mr. Smith said, rests chiefly on the solution of numerous problems, the most important of which are:

Lists Problems

1. The production of machine tools as required in the furnishing of material and equipment. by allied marine groups, and as needed by the shipyards themselves. 2, Training of employees for supervisory and mechanical jobs, both in the shipyards and in allied industries, and : 3. Priorities. ;

Navy Gets 18

Year-end figures compiled by the National Council of American Shipbuilders, released by Mr. Smith, show that 68 seagoing commercial vessels, totaling 541,505 gross tons, came from the ways in 1940, and that 51 vessels of seagoing types aggregating 441,619 tons were delivered in 1940. In addition, at the start of 1940 there were 36 Navy vessels totaling 241,725 tons under construction of which 18 were delivered during the

tracts for 284 additional ships, exclusive of small auxiliaries, with a total of 1,454,375 tons, were given private shipyards by the Navy during 1940.

REPORT WAGES BIG

NEW YORK. Jan. 3 (U., P).—

final seven months of 1940 caused a loss of more than 11,000,000 manhours of work, the Iron Age Magazine said today. A total of 45 principal strikes oc-

% curred in the steel, metal-working

and other industries covered in a

® survey conducted by the magazine in the period. Of that number, 34 Goo

strikes were in plants having contracts with Government defense, agencies or otherwise engaged in defense work. “While the total man-hours lost in the seven-month period would not be substaniial when compared with industry’s total of work-hours in peacetime, urgency of the defense program emphasizes the loss to the country of the 45 strikes,” the magazine stated. “Wages was the chief issue in most of the disputes,” the publication added. “Several walkouts followed jurisdictional disputes between CIO and AFL unions. At several plants holding defense contracts refusal of union employees to work

walkouts. »

DAILY PRICE INDEX

NEW. YORK, Jan. 3 (U, P.).— Dun & Bradstreet’s daily weighted

. . | price index of 30 basic commodities, | compiled for United Press (1930-32 wel

average equals 100): Yesterday Week Ago essscsssssccsccees 124.54 Month Ago ecvceePevcccconce 123.71 Year Ago cessanssensssnseees 102.61 1040-41 High (Jan. 2, 1041).. 124.89 1940-41 Low (Aug. 19).0000se 112.42

year to the Navy Department. Con-|

ISSUE IN STRIKES) =:

Strikes in American industry in the | Goo

with non-union workers caused Bi

®eccsesccsvsnsstae 124.89 2

$9.90 o shippers and cit mbs m

Corn Acreage Dips:

orn

Qats

Wheat

125 '30 '35 '40

decrease

"25 '30 '35 '40

Increases in the nation’s 1939 acreage in oats and wheat but an the corn acreage are shown in the chart prepared by Purdue University’s farm manazemen. department.

'25 '30 '35 '40

PRICES ON HOGS RISE 10 GENTS

Top Here Boosted to $7.45 As 8955 Are Received At Stockyards.

A 10-cent advance was made in all hog prices at Indianapolis stockyards today, the Agricultural Marketing Service reported. The extreme top advanced to $7.45 for good and choice 220 to 230pounders. Vealers were steady with a $13 top. The Marketing Service reported 567 salable cattle, 498 calves, 8955 hogs and 2716 sheep were received today.

Reesinis 2 123

Ton. , 23 Leeesrssaserseces.. $6.85 “eve 35

2:02

8.050 1,500 11,500 10,500 7,000 8,956

DOP 80 orecrevrersouerrer Dec. a sesdstsssanretea rans

Jan. Jan. 3 erases Barrows and Gilts | Packing Sows

5.855.70- 5. 2

250- 500 § Slaughter ‘Pigs Medium and Good— 7.10, 90- 120 5.25- 5.85

& Vealers (Receipts, 567)

160- 200

Slaughter Cattle

er! Bulls Steers ppsieds excluded)

{ 50-1 fEr i SlCr: 7.50- 8.00

7.50- 17.78 6.75- 17.50

6.00- 6.75 e

00-1: -1500. 13.50-14.7

Good— Sted 750- 900. 10.50-12.50{Cutter and 900-1100. 10.75-13.25|" 1300- 1300; 10: Toi; 30 Sood and edium 8.35 100s oice. . alt .50-13.00 750-11 - ommon an 1100-1300. 8.25-10.75| ' medium. 830: -11.50

{ 7.50 750-1100. . 7.00- 8.25] Sieers, Heifers Choi 500~ 50. 11.25-12.75

500- 150. 9.15-11.25

der and Sto eke? 03 "cattle (Receipts, 498)

Shoice— 0 9.25-10.00 800-1050 . 8:35-10:00 ood .

Heifers 500- 800. 8.25- 9.28 hec%%0. HIN in. 8.49. 5.39 - - edium— oot pp. 7.25- 8.26 I - 900. 6.00- 7.25 7.75-, 9.75] Gaives (steers) {Good and choice— 6.25- 7.151 CoE down . 9.00-11,00

dium 1500 down. 8.00- 9.00 7.00. - 8.00) Calves (heifers) Medium... 6.25- 7.00/Good and choice— Cutter and 800 down. 8.25-10.00 Common 5.00- 8 3 Medium — Canner... 4.00- 500 down. 7.00- 8.2§

SHEEP AND bul (Receipts, 2716)

Lambs

Good and chojce Medium and good

OmMm ON 500- 900.

8.50- 9.2 7.00- 8.255 Yearling Weathers

Sood and choice.... Medi .

8.00- 8.75 7.50- 8.50 Ewes (wooled) Good and choice Common and medium

CHICAGO LIVESTOCK

Hogs Receipts, 12,000; active and 10 25¢ hi, hers palk. good a and choice 160-24 ibs., $7. 1561.3 op. § 5; most 240-270 $761 0; Hi0- 325 ibe: "4.98 05; lbs. down, load 3 as

6.10. Salve rool all

3.25- 4.00 2.50- 7.50

ood SOWS

and : pis fers va? scarce; noice ears few available; this an 2 oe astern Shuphers out of jar et; os steers, [email protected] little above and common. kinds: down to $7.50 an ; best fed Beifers $11.25; mostly however; weight cutter ‘cows, $6; 3 ay sausage bulls very little except underlight Yealers: $9@ll; $12. 5001 3 stockers practically everyI ‘account. pts, 8000; later Thurs Jay} JLo 25¢ ‘Bigher; mostly 18 wet ay bulk good top, eights to ee trade; bute? active: mostly

steady to packers; spose strong; shippers

vere .$ 9.50: 10.00 diu

; | on light s

Famous Cotton Exchange Bombed

MANCHESTER, England, Jan, 3 (U, P.) ~—Authorities revealed today that many of Manchester's famous landmarks were seriously damaged during recent German air raids, in-

Exchange, the Manchester Cathedral, the Free Trade Hall and the Cheetham Hospital, While the main structure of the cathedral is still intact, heavy damage was caused to the Regimental Chapel where a bomb hit partially destroyed the 15th Century Argel Choir stalls.

historic Free Trade Hall are standing and the interior of this old political center is a mass of ruined stonework. The Royal Exchange, one of ithe largest cotton trading exchanges in the world, was wrecked by an ex-

cluding ‘the Cotton Exchange, Royal!

Only the four gaping walls of the

BANK PREDICTS JOBS FOR ALL

But Warns of Aftermafti Of an: Unrestrained Boom. :

NEW YORK, Jah. 3 (U. P).—A job for every employable person in the United States is the prospect facing the pation at the start of 1941, according to the monthly bank letter issued today by the National

City Bank of New York. The bank asserted that American business has resumed its “historical upward trend” after more than a decade of stalemate and predicted that industrial activity, now at the. highest level on record, will be ine creased further this year. “The outstanding fact,” it said, “is that payrolls are rising, li costs holding steady and ing power spreading around the cire cle, demonstrating once more the industries support each For the first time. since 1929, question is not how much peo will be able to buy, but whether all the demands can ‘be filled. »

‘Ceiling” Temporary

Industrial production may tend wf flatten out or even decline mod= erately from the current high level, becaise of the necessity for plant expansion, the bank said, but all indications are that this “ceiling” will be only temporary. Despite the optimistic outlook for . employment and general business activity, the bank letter re-emphae= sized dangers and uncertainties ° surrounding the current recovery. “However welcome the boom will

plosion and fire that shattered the. entire dome and burned out [the famous lookout tower surmounting the building.

the great meeting place of-cofton

the destiny of millions of tons of textile have been decided here. The testing house established in this exchange by the Manchester Chamber of Commerce in 1900 had been the recognized world “clearing house” for technical cotton problems.

LOCAL PRODUCE

Heavy breed hens, 1305 1lc; Leghorn hens, 8c; bareback Leghorn hens, 7c: Barred and White Rock springlers, 13c; other colored heavy breed springers, 12c: Leghorn springers, llc; bargpaty springers, 9c; old roosters, 6c. Indiana Grade A diana Grade A medium 28gs, 17c¢; 2 ios Small Grade A and No

eggs, 12c; no grade, l4c Bu tter—No 3. 35%. @3ec; No. 2, Rav se. rueris ine, A % ved © b} Sh ountry picku rices quote ¢ Wadley Co ay Px g ¥

FOOD PRICES

CHICAGO. Jan. 3 —y2pplts Michigan Jonat PALS BF @1. 25. Tbhma«

Celery—Michigan squares, ko@o0s. toes—Florida $2.85. Spinach—Texas, b @75¢c. Caulifiower ~—- Califdrnia, [email protected]. Carrots — Califarnia, $3. 5003. 65. Lettuce crates, $2.50@ 10, Sweet 8 Tennessee. Lg bt [email protected]. Onions _(50-1h. sacks)—Minnesota Yellows, 75¢; Indiana fellows, 0c; Colorado Sweet Spanish.

bareback hens,

large eggs.

i.) crates, crates, — Arizona,

Potatoe

not yet Working; oa od bulk food to dholce fed Wester am sca Ung | to s., $9.65@?9.75, oy held um to good grades, sai 50, glass in limited supply; ne agus active on ep.

OTHER LIVESTOCK

CINCINNATI, Jan. 3 (U. P.).—Hogs—Receipts, 4125; weights from 180 lbs. up 10 cents; lightweights, ao to 25 cents Bighert sows steady, top $7.50; 100-140 lbs., $5.40@ 6.15; sows ‘mostly 2505, 50; trading slow on heavier butchers. Cattle—Receipts, 450; calves, 250; active, stronger, with heifars and bulls 35 cents cr more higher; load good 780-lh. hdders, also odd steers, $10.50; medium beef cows, $6.50; sausage bulls, [email protected]; vealers steady to weak; good and c ojge, aa a 13.50; common and medium, $8.50@11. Sheep—Receipts, 100; active I steady upplY: few lots good to choice trucked in 75-85-1b. lambs, $9.50@10; mos’ common and medium, $7@9; li hiveight culls to $5.50; slaughter ewes, $1@3; mainly $2.50 down.

LAFAYETTE, Ind. Jan, 3 (U, P.).~Ho: market 10 cents higher; 160-200 lbs. $6.9 @17; 200-250 1bs., [email protected]; 250- 325 lbs $6.60@17; pigs, '$6.25 down; roughs, § Sows: calves, [email protected]; lambs, | $8.5! @9 50. :

YNE, Jan. 3 (U. P.).—

$6. 5 1bs. . § 35; 140- 150 1bs.. $6.10; 130-140 1bs.,| 20-130 1bs., $5.60; -120, Tb 1

5. 5; roughs, $5. 30; stags, $4.25; calves, $12.50; lambs, $9.55

The Royal Exchange is famed as|

traders throughout the world and

“be while it lasts, consideration of its

causes, of the uncertainties and dif=ficulties which go with it, of the tax burden and mounting debt, and of the disastrous after-effects which will surely follow unless it is Jisels guided, has a sobering effect. It be a busy year, but not an easy one.”

Inflation a. Problem

The bank asserted that 1941s problems for this country fall into two major parts: To provide arma=" ments, shipping and supplies as

States and Great Britain, and to restrain the “inflationary tendencies” of the defense program. “Everyone will hope that the chalks lenge embodied in the needs for both ' guns and butter will be met,” it said, “and from the standpoint of raw material supplies, capital and credit, and potential labor force, give en adequate training programs and co-operation, the goal is not beyond reach. “It is only prudent to prepare for

_ |priorities and sacrifices and I.

measures to counter inflationary . trends—first, to-make the armament program effective, and second because inflationary demands allowed to run unchecked would lead only to disaster.” ;

WHEAT PERKS UP - AFTER SLOW START

CHICAGO, Jan. (U. PP). After showing an it tone at the outset, wheat futures on the of Trade developed firmness in the later dealings. Soy beans priced ade vanced sharply while other grains showed a better tone. At the end of the first hour, wheag.. § was unchanged to up %c, May 87%¢, + Corn was up 1% to off lc; oats un=" changed to off %c; rye up % odio, and Soy Beans up % to %e¢.

WAGON WHEAT = oN JiAnapols gt stain wd are No. change, ae ws Se

0. ne ew y Vell Bis: ne new, No. rvelom: Belied 3 white Sata by

WITH EACH KODAK ROLL PRINTED AND DEVELOPED " | 6 to 16 25¢ Reprints Exposure 30 Each’ Mall with coin—=1-Day Services.

SEE THIS COAST-TO-COAST CBS BROADCAST

plus

A Full Hour Stage Show

plus A Feature Motion

Picture

CADLE TABERNACLE JAN. 4, 1941-<5:30 and 8:30 P. M. See Your Grocer for

Tickets

quickly as possible for the United - A