Indianapolis Times, Indianapolis, Marion County, 9 January 1941 — Page 23
'* flexible and can be bolted down.|
THURSDAY, JAN. 9, 1941
BUSINESS
Scrap Steel Dealers Told to Cut | Prices or Government Will Do It]
By ROGER BUDROW ==
THE DEFENSE COMMISSION HAS CRACKED down For several months now the|
on the scrap steel dealers. price of scrap steel has been
There have been charges that the metal was being “hoarded” by dealers to force prices higher. Current, too,| are reports that dealers are “raiding” each other's territory] and charging the steel mills higher prices because they
mounting.
have to go farther afield to obtain the scrap.’
This week the Commission ‘‘suggested” that scrap steel prices, now ranging between $23.50 and $24 a ton, be reduced to not more than, ' $20 a ton. Un-] less. its “suggestion” is fol-~ lowed, the Com mission | threat ened | “drastic steps.” The | demand that prices be reduced is the “most drastic action on ptices that has been taken [by shy G ove rmnmenta Roger Buarow authority” since the World War, Iron Age magazine declared. . Iron Age said it is the first time that the Defense Commission “has really made any dictatorial attempt to control prices, its previous efforts having been confined to persuasion.” The importance of steel scrap prices is not hard to understand. Steel is our basic industry, If steel scrap becomes more expensive, the price of finished steel becomes dearer. Inasmuch as steel is the foundation of all our big manufacturing, the effect of higher steel ‘prices would force production costs upward in thousands of factories. And at this stage in the defense program, - the Commissign doesn't want such a thing to ha pen. » ” o
CONVEYOR BELT technic. ap-|32
plied to key defense industries would step up production appreciably, Paul W. Van Order, manager of B. F. Goodrich Co.'s belting division, believes. Use of the conveyor belt has cut the processing and assembly times in tank, plane and gun factories and shipyards “far below tne minimums of the first World War,” het said, o t 4 ” ‘BURLEY TOBACCO growers ia Indiana prefer marketing quotas set up for a three-year perioc. instead of one, a final count by the Agriculture Department shows. 3113 voted for a three-year quota, 172 for one year only but 1417 are against qudtas altogether. Most of the burley tobacco in this state is grown in Clark, Dearborn, Harrison, Jefferson, Jennings, Ohio, Spencer and Switzeriand counties. In the voting for dark air-cured marketing quotas, 77 voted ffor three years, 11 for one year and 25 against quotas. Spencer an Warrick counties grow most of this. #..8 8 ¥ ODDS AND ENDS: Defense and
other Federal funds boosted Puerto | om
Rico’s buying power in 1940 enabling f her to spend 100 million dpliars for U. S. goods, most in 20 years. War risk insurance. rates on cotton shipments from Egypt to England ° have been: reduced. Soviet agents: are trying hard fo secure machine tools for early [shipment but. aren’t having much suecess, American Machinist reports. . . . Pittsburgh Plate Glass Co. today announced a hew glass developed for suse on sub-stratosphere airplanes whose pressurized cabins reLin strong, tightly sealed windows. The glass if broken, will not leave the frame or release the cabin pressure because its middle layer is
. +» Spain is reported negotiating | & for 12 million bushels of } argentine wheat. | ———————————————————— LOCAL ISSUES The inllowing JJiotasions oy Lhe Indlan-
ndicate the approximate m sed on buying ang selng otaiions of recent transactions Stocks Bid Ask ents Finance Corp 9 t RR & S 58
Van Camp Milk pf Van Camp Milk com
Sous American joan bs
erican n 6s 5 Arizens "ing Fel Ao 61 e T&T Ft Wayne 5Yas Fabs. Re, olds-Tavior Ss 42] T&T Ft Wa
I EE b
-
84; pis Wat Rien ad 5s ge Hin uhner Pack ing Ci
orris 5&10 Stores " i
mb bhp put
WNOWO WW IRL a
ac *Ex-divide nd.”
LOCAL PROTICE
Heavy breed hens, 12¢: bareback hens, 1c; Leghorn hens, 8c: harebiick Leghorn hers, 7c; Barred and White Toc k spring13c; other yEored cavy breed fie gers. Legh orn _ springers, = llc; re ok spring yers, 9c: old roosters bw aha In-
de a de a Sarge RS I ndi m e Bi iran A and "Nea et? 120:
In all |Good—
, | trucked in ! 10.25.
So THE INDIANAPOLIS TIMES - Pork Prices Show Slow Recovery
|
PERCENT :
120. and calves
[[ncome from cattle
i
CON
Income of
L
industrial workers
TOP HOG PRICE SOARS T0 $7.85
Heavier Weights Most in Upturn Here; 8050 Received.
The top price paid at Indianapo-
$7.85 today, the Agricultural Marketing Service since last September. Weights between 160 and 250 pounds were 15 fo 25 cents above yesterday while neavier weights advanced 10 cents and. weights under 160 pounds remained unchanged from yesterday. The $7.75 top was paid for good and choice 220) to 230-pounders. Vealers were strong to 50 cents higher with a $13.50 top. The Marketing Service reported 087 salable cattle, 474 calves, 8020 hogs and 3050 shiéep were received.
Barrows and Gilts || Packing Sews Jood to C “ood to Choice— 120- 140 470- 300..% 6. 806. 15 140- 160 300- 330.. .6.45- 6.70 .. .6.15- 6.50 5.90- 6.25 5.75-' 6.00 5.50- 6.10
5.75- 5.90
hoice— $ 6.00- 6.60 . 6.50- 1.50
A u 160- 2 6.75- 7.00{ '90- 120.. 5.40- 8. 10 Lane Cattle & Vealers octins, 987)
Steers Bulls e— ly earlings - excluded) $12.50-14. g0li3eet- - 00. 13.25-14.95(Good .... 7.75- 8.25 1 300. 13.25-14.75'3ausage— 1300-1500. 13.50-14. Tagood : 7.75- 8.00 Me 7.00- 7.78 common. 6.00- 7.00
[ue dium 10.50-12.80iCutter and aealers = 50-13.50
10.75- %. 00-11.50 2.9). 8.0!
760- 900. 900-1100. 1100-1300. 1300-1500.
edium— T7£0-1100. 1100- 2300. 8.50Com 7€0- 71100. 7.00- 8.
Steers, Heifers
3.25( 3.25 3. B30
10.750-
8.5
hig Jommon a
1 1 1 1 1 medium | '
0.78 0.75 a
2 H " 7 5
se dilite
Stee Choi (Receipts, 474) 500 50 11.50-12.73| *hoice— 9.25-10.00
Good+ -800 500--750 10.00-11.50 390. 1050. 9.25-10.00 Heifers B00. "800. . 8.50- 9.25 holce— 800-1050.. 8.50- 9.25 750- 900 11.50-12.50 Medium—Good— -} 800-1000.. 17.50- 8.50 750- 900 10.00-11.50 Common — Medium 00 . 50- 17.50 ' 8.00-10.00} Caives iis)
500- 900. ood on choice— 6.50- 8.00 : awn. 9.00-11.00
I | Cu I
500- 900. 9.00 9. 00 Calves (heifers) 6.25- 7.00(300d and choice—
iE] wn. 8.26-10.00 common 5.00- g 26 Mediu CGanner... 4.00- 5.001 500 own. 7.00- 825
SHEEP AND hAMBS (Receipts, 3050)
Cutter and .
Good and choice Medium and ‘good
Yearling Weathers
Good and choice
9.00 Medium 8.25 .Ewes {wooled)
Good and choice ..:.. bascensse Common and mediuin esnoes
-——— —
CHICAGO LIVESTOCK
i6, 00; opened active kien her; a ter trade
3.26- 4.00 2.50- 7.50
s — Receipts,’ 20
cents
g0o0 50@T ba: most 240-270 ers, [email protected]; soma 270-300-1b. “avera es, [email protected]° gond packing sows, 400 Ibs. down, '[email protected]; most 400-5 1b. kinds, @6.40; heavier weights, $5.7 Cattle—Re eipts, 5000; calves, 500; steer trade moderately active, strong to 2 cents, mostly 10 to 15 cents highos DR ing strictly choice in run; me nd good grades predominating at $9. S10 75; top, $14.35 for 1100-lb. steers of long yearling type: best heifers, $11; this class steady; bulk $9. 5010.75; cows active, strong to 15 cents higher; weighty. ou cutter on common beef cow Npe to 3; balls nd vealers.. unchan oged heavy sausage us to $8, and oh sice Wey viealers
®Sheep—Recelnts, 1000; late NW entat fat lambs and yeu tings stepdy cents lower: ‘top. 15 to city er on few choice pr ib. fed wooled lambs; bulk good to choice Joo. 1b, down, $9.88 @10: medium to good, [email protected]; ne choice 130-1b. fed Western wes, 25 cents : 2; No early tic fat largely account strong to fully 25 cents higher asking ; good to choice fed wooled lambs eld above $10: some early ales around steady, $9.85@10.
OTHER LIVESTOCK
CINCINNATI, Jan. :9 (U. Jooimo Ss — Receipts, 2675; Ae uneventy to 25 oy Mi F top. 8d % 19% ilo tha (3518 @6.30;, SOWS, os er; mos 58028 Receipts. 550; 1 : 00; : attle—Receipts. 5 calves, 2 stee: and heifers Hi to be slow: lots, $11. 50 @12 with good 11G0nib. weights at outside; medium beef cows around $6.50; vealers weak to 50 cents lower. Good .and choice, $12@13. heep—Receipts, (100; nominally steady on light sup 9 early. Good and choice {ucke 5-80-1b. “native. lambs listed,
J LAFAYETTE, rm roan 200.550. Tose $7 Sas Lo $6. say. own” {Suen shsE 5@9."
60: 3 dB, vd Calves, 1 ow 50:
rn —
AYNE. Jan
150 higk high C : 1bs., $740; HO
$5. 15;
inns. “$10. ‘athgs,
$4.50; calves, $i9:
HONSBERGER APPOINTED PITTSBURGH, Jan, 9 (U, P).— The appointment of G. W. Hons-
Lberger as manager of the Westing-
house Electric & Manufacturing
:| Co.'s Louisville office was announced
& | voliime since 1918, Pr apparel wool in the 2: lat : | thole of Dec. 31, 1930.
FRACTURE BEDS Can Be Rdnted at the New HAAG'S ALL-NIGHT DRUG STORE 220d and Meridian
OUTFITTERS T MEN, WOMEN and CHILDREN
ngetomd
120 W. Wash, spe. Rmig
Men's | And
Women’s
ELINED 'EPAIRED
BUSINESS “EDUCATION Accounting, Sockkeeping. and Secreta Arial courses.
a 8 7. Fred ko Cas, prinel jangg
EFITTED
Clothes
Benefit
lis stockyards for hogs soared to
‘reported, highest
3|ice Commission of
"| Teire Haute, Clin
0 a yar ago:
> |sent here because ¢
Income from hogs"
y
&
/
|
|
4 ] (
1920 1922 1924 Industrial w from hogs is ma demand for pork
The Department
GAS PURCHASE SU IS FILED
Injunction sol ght Against | Sale of Terre Haute i Utilities Froperty.
TERRE HAUTE, Ind., Jan. 9 (U.
Utilities Co. propeities by the newly | formed Terre laute Gas Corp. has been filed in Vigo Court No. 2.
Lenore H. Jonnscn, Terre Haute housewife, charged a Public Servder authorizing stained by fraud. ts the contract:missioners Moie rt and Winam 2
thé purchase was o It|| named ‘defendal ing firms and con Cook, Perry McOCe Stuckey. i The complaint, : nent injunction ag acfion, alleges Cox and Cook’s son, Divid, who represerited the Terre Haute firm at cornmission hearings, “confederated, conspired and conn;ved together” to enfier the order, : The suit charged Cook: previously had declined to act in hearings becajise his son wag a member of the corporation's legal staff, and asserted - McCart was ill at home during the hearing. Both Cook and McCarty signed the order, Stuckey, who hear]. the evidence, dissented, liast Thursday the ‘Commission
sking a perma- |B ainst the trans'k and McCart,
bujl for $1,250,000 T¢rre Haute, West
properties of India of Indiana a las | Utilities.
AUTOMOBILE SHARES
NEW YORK, Jan. 9 (U. P)— Weakness in automgbile shares and strength in special issues featured the| stock market taday. The main list made an irregular advance with pride changes small and dealings|m,
lighit. Oltis Steel first convertible preo| fered made a nev high at 50%, up|| 4 - points. Coluinbia Gas preferyjied spurted 3 points. Paramount fitlinres made new highs for 1940194 Demand for Ame that issue up 2 po outlook for a favor: ings report. Some i ing came into Ame: an¢ it made a sme air | line issues, ail and oils were firm. [Rails met good denmiand early in tlie day but receded from the highs when the car loadings report showed a smaller than season gain.
ican Can sent nts to 942 on ble 1940 earnavestment buyican Telephone 11 gain. Steels, crafts, coppers
U. S. STAT EMENT
fi INGTON, Jan. 9! (U, P.).—Governit ‘exnenses and receipts for the current 1 year through Jan. 7, compared with
8 Ye 8 ear .$5,419,065,944 54 $4,043,439,130.68 ..3,021.355,527 08 $2,827. a 3 97
R 025,970, Customs .. 164,560,425 43
. INDIANAPOLIS CLE/
RING HOUSE.
1926
king slower progress, and lard now and there is more comp:
|in hog prices is that processing and distributing costs have increased,
‘The action, filed: in the name of |A Ab
but é
authorized the Terrs Haute firm to|§
on and Brazil (g
WEAK ON BIG BOARD
and Bush Terminal preferred cer- Sen G &
Bonds were firm with trading the oH mot active since Sept tember, 1939. fob
T35.8 ‘882.38 189,327,086.92 | 07K
1928 1930 1932
1934
yrkers’ wages and farmers’ income from cattle have turned sharply according to this Agriculture Department chart. There is less foreign etition from vegetable oils which compete with lard. /finds consumers are showing more preference for beef and says another unfavorable factor affeqting hog prices more than cattle prices.
1936 1938 1940 1942
but income
N. Y. STOCKS
| Net High Low Last Change
Sle Altea 12 sil. 24% Allis-Chal 1
Am Loc 3 y 6 pt 43% m Pal § ot ‘A 38% Amn Roll fat : 18% Am Ship Bulld. 4. 3
P).—An injunction suit seeking to|/Am T & T block purchase ¢f Indiana Gas|am
1G & wi 19% Ad Refining .. 3% Atlas Tack . . 6 Aviation Corp . 5%
14+; +2:
Bald Loco 55 ..
Pk HE
Burroughs .....
Canada Dry Carriers & Celotex . ..v~
Colga Col isl A Col Broadcas. B
Shenny weve Curtiss Wr A..
wh 21%, Tags 13s ov © 18%
32% 43%
Du Pont pf .
Elec Boat El Pw& Fl Pw&L $7 pf End Johns .
Fair, The ..... Fed Mogul .... Firestone T ... Flintkote
Gen Motors .... gen Refract. . Gen Thtre Ea.. Gillette 8 R... Glidden Glidden ve Graham-Paige Gt North of . Grevhound Cn.. Guant Sug of..
Th: & FF
DE HE HL AE HG
5
Homestake Houd-Her
Central
1 B ¢ n .e P&
4 $
a ~
Int Silver .... & Tre tertype
1:4: +444
: ae
sieds 13% 6272 Te 3% 12 36% 26
13%
Jarvis Co. 62%2
Johns-Man ....
+ + EF
27 287% wy 22Y, 25% 21% 29 27% 8 29% : 66
Cress 3 32
lm
Rayon Organon | sald today.
The magazine, published by the 20 | Textile Economics Bureau, Inc., aso/serted that although cotton con5 |supfion in 1940 was & record 8,000,-
ig: 000) bales and mills aie operating at
‘esent stock of y is ample to is.
peak capacity, the pi cotton in this count: meet any future nee At the close of 194), the Governmefit loan-stock was 11,000,000 bales and the latest crap estimate places the | probable yield | at 12,636,000 bal. Censumption of (sctiared basis) was 405,000,000 pounds for
baw wool estimated at 1940, the best out stocks of United States the end of the year exceeded Supplementing thi} adequate quantities of
supply are foreign wools [ the British blockade and the recently concluded agreement between the United States and [reat Britain
storage _ ¢f 250,000,000 od of ust
Australian wool upon
onsumption ey af Expense of Silk Usage
| NEW YORK, Jan. 9 (U.P.).—New records were established for cotton, wool and rayon consumption in 1040 and the textile industry began i new year with mill activity at the best levels in history, the publica- || The gain in ray(n consumption, however, was at the expense of silk |. usage, which slumped to the lowest levels in
in 20 years.
NS.
which American manufacturers can draw; Rayon yarn ption, in com=petition with , rose to 390,000,000 pounds last year, thé magazine said. This volume exceeded the previous | M record year, 1939; by 8 per cent. Although operating at peak capacity, the rayon filament yarn industry at the close of 1940 had on hand only four days’ supply, “essentially the irreducible minimum,” the magazine said, adding that at no time last year did supplies exceed two weeks’ needs. Present supplies of silk are believed adequate, inasmuch ‘as 1940 consumption amounted to only 312,» 867 bales. Total visible supply in Japan at the close of 1940 was said to be “nearly twice” that at the end of 1939, and further evidence of the adequacy of supplies was seen in the recent order of the Japanese Government that the cocoon crop must be reduced 14 per cent next season.
on on Everything
Diamonds, Watohe Watches, Autos, Cameras, Ria Shetrums, Ete. RY
By UNITED PRESS
"| Week 888. sxeevee
s | Martin
ESE: BE -
a 22p0%00
8 Vana dium
DOW-JONES STOCK AVERAGES 30 APYsTRULS Yesterday .
Vs | Week ‘Ago .
Month Ago . Year Ago i) High, 1940-41, 152.80; low, 111.84. . High, 1939, 155.92; low, 121.44. 20 RAILROADS Yesterday ..coccoeves eessssssssses 28.08 Month Ago ..... oi 24 Year AO cecccvccvancsssses 31.43 High, 1940-41, 32. 1 low, 22.14. "High, 19389, 35.90; low, 24.14. : 15 UTILITIES: Yesterday ........ “ous
+ 0.01 +0.01 —0.04 . —0.42 High, 1840-41, 26. 15: low, 18. 03. High, 1939, 27.10; low, 20.71,
o Net High” Low Last Change BY ...» 107% Ya 30 12 53% 24%
Macy RH 25% Mkt St Ry pr pf 10% (G enh) 30 Martin arrP a. Hd 8
Mant Cop .. Mident Pet .. Mo Pacific .. Monsanto Murray
Ys Ya Ye
esses ees
Nat Biscuit ... 87 Dai 1
DER
Coal : ius Salon © pt tf fx s orgings. . Pitts 6 Pitts & W Va.. Press Stl S™-.
Re Radio : 4% ) dio Sin Reading 2 pt-. a Rem Rand r Republic su .
21% Reyn Tob B Ba 33Y; Ritter Dent ... 013 0%
113 .e 41)
4% 61% 14
21% 9
JHE I Fete
Safeway 5 pf..
lt
LIE +1
+) Soorry Corp ... Shicer i “eae
. 1] J: Studebaker ... i Swift Intl «e..0 . 18
TKS 3 00 ses 21]
hérmoid Pr Fim od [ransamerica.. 5% Tri-Cont_ .. 1% Twin C R T pf. 22
708%
Server 2 ¥ O&
aa
Union Card "ee n Pac .
nh Tank” Un Aircraft ..
TS
44 . 16% 14
SHEE HE HEHE FDL
FR ERIE
— "Bo usp sce = brief
tH
VEGAS BL
Phd l ACL Al A As -
° son Voodward Tron 33
Voolworth gh
Sheet. : 4%} in FOOD PRICES
3 ighinan Sa pares ay
[atoe uban 1 x nla. form a, crates,
Jer oung
1b. s Mi hig an Jellows, 8 LJ 0c x was on
‘ellows, 3 1.35 Sect Spemish, $1.35.
Colorado
Pay Le Until Satisfied fr at Eg EERE Ln Sr Hi and h
7s K. Jennings and submitted to Wash-
include a $298,056 street and alley
%s | of Boonville’s publie schools; ‘a $25,-
% / : Sales Executives
» | dinner meeting of the Indianapolis
: Air-Conditioning
. | Kerotest . Manufacturing +|olis at the Spink-Arms Hote] to-
1 Pressure, »
‘WHEAT PRICES RISE
2 | fractionally higher in an extremely
|changed; rye unchanged to up %,
a | FOREIGN EXCHANGE
s | Cana
INDIANA FARM PRICES HIGHER
pS 14 of the 17 Major Products Average Above 1939 Levels. Times Special LAFAYETTE, Jan. 9—From the standpoint of‘ farm prices, Indiana farmers had a better year in 1940 than in 1939, Purdue University re ported today. Fourteen of the 1T major commodities averaged higher during the year. On Dec. 15 the Indiana farm price index (using 1910-14 as 100) was 96.8 or 1.9 points higher than a month earlier and 7.8 points higher than a year ago. Indianh farm price index: for all of 1940 was 92.5 compared with 91.3 for 1939. Favorable for farmers was the fact that the U. S. wholesale price index on Dec. 15 was 116, the same as a year ago and that the prices paid by U. S. farmers was 122, same as a year earlier. Purchasing power of farm products in Indiana on Dec. 15 was 79 compared with 75 a year ago. Comparison of ° actual Indiana farm
prices: Year Avera, 1910-18 $ 58
1940 $
3
Rotatoes es, bu. ..,. Boosey head . Cattle, cwt. ...
ABVOBE, H,, RBI NLRRE
s, : iter, Jb. cone Wool,
NINE PROPOSED WPA PROJECTS APPROVED
Nine proposed WPA projects totaling $1,035,892 have been approved by State WPA Administrator John
= Jet 2s w-
ington for final action. Among the proposals is one to build storm and sanitary sewers in Speedway, costing $40,408. Others
improvement at Marion; a similar $491,450 project at Ft. Wayne; a $7936 improvement of Linton’s sewage treatment plant; a $16,407 public school project for Crown Point. Others are a $2667 improvement of Pike County infirmary building at Petersburg; $2715 improvement
839 addition to Monroe County's garage and grounds at Bloomington; and a $150,414 state-wide publishing project of Indiana State Teachers’ College.
To Hear Simmons
Harry G. Simmons of the G. F. May Co., Chicago, business engineers, will be speaker at the regular
Sales Executives Council at 6 p. m. Monday at. the Indianapolis Athletic Club. Mr. Simmons will speak on the “Reactions of a Business Engineer to Selling.”
Ferrill to Discuss
H. E. Ferrill, engineer for the Co, of Pittsburgh, Pa., will speak at the monthly dinner-meeting of the Air
Conditioning Council of Indianap-
morrow night. Mr. Ferrill’s topic is “Suction and Liquid Line Refrigerant Operating analyzing the typical performance characteristics of refrigeration units in modern air conditioning systems.
39th Payment Made By Morris Plan
Howard M. Coots, Indianapolis Morris Plan vice president, announced today the institution has paid its 39th semi-annual interest payment, Interest is compounded at the rate of 3)2 per cent on Jan. 1 and July 1. Additions to savings received before Jaw. 16 earn interest from Jan. 1.
IN LIGHT TRADING
CHICAGO, Jan. 9 (U. P.) —Wheat prices on the Board of Trade moved
light trade. Other grains ruled steady to firm. At the end of the first hour, wheat was up % to 3%, May 87%c.- Corn was unchanged to up %; oats un-
and soy beans up % to 7c.
WAGUN WHEAT Indian lis grain elevayors are n tol anapolia at 8 alr. 8 payl
84c; flor if merits Gi sore
change: ch ses New No' ¢ Sac: new No. 4 white shelled corn. 0. 3 white oats, 33c.
9 (U. P.).—Follow< or curef, Chg.
Jan. cable rates on ma
YORK, WL Bie noon Rates
rencie esa ( amd) da (dolia
Italy (ira) witzerland (franc
Sween {kina
Sensational NEW POLICY Glasses on 10-Day Free Home Trial
Japan Mexico yom £50)
LOWEST FACTORY PRICES -
fed "Bled mo ge est ouE Sppe appear-
rt
Lg a
AT END OF 40]
* | treasurers;
Vice President
William P. Flynn, who is vice president and a director of Indiana National Bank, was elected a vice president and director of Union Trust Co. also at yesterday’s annual stockholders and directors’ meeting. 3g
Union , Trust Stockholders Elect Flynn, Alig New Directors.
A vice president and two new directors were added to the Union Trust Co. al its annual stockholders and directors meeting yesterday. William P. Flynn, vice president of the Indiana National Bank, was elected vice president of Union Trust Co. and director Cornelius O. Alig, Union Trust Co. treasurer, also was elected a director.
All other officers and directors were re-elected.
Arthur “V._Brown is president; Volney M. Bro istant to the president; John E R ,» Alfred S.
Gauding, J. Floyd King and Alan A. Ritchie, vice presidents; Cecil A. Berry, vice president and trust officer; Mr. Alig, treasurer; Clarence R. Kuss, secretary; Everett E. Lett and John W. Luckett, assistant Richard A. Kurtz and Hirman W. McKee, assistant secretaries. Ezra C. Knoop was promoted from assistant auditor to assistant secretary. George E. Hack was promoted as assistant auditor te Damon O. Bailey, auditor. Directors re-elected include Fred G. Appel, Charles O. Britton, Arthur V. Brown, Volney M. Brown, G. A. Efroymson, Edgar H. Evans, Charles M. Fultz, William G. Irwin, Herman C. Krannert, Myron J. McKee, Wil-
J. Smith, Samuel B. Russell L. White.
GENERAL MOTORS SALES SET RECORD
NEW YORK, Jan. 9 (U, P).— Total sales of General Motors Corp. to dealers in the United States and Canada, including export shipments, established new all-time highs for December and the full year 1940, the SATPoralion reported today. Sales for all of last “year were reported to 2,025,343 cars and trucks against 1,542,776 in 1939 and 1,108,007 in 1938. December | volume amounted to 223,611 units.against 217,046 in November and 207,637 in the corresponding 1939 month, Sales to domestic dealers for 1040 were placed at a record high of 1,860,354 cars and trucks against 1,364,426 in 1939, and volume for December also reached a record|'® peak of 204,473 units against 198,064 in the preceding month and 188,839 in December, 1939. Total sales to consumers in the United States for 1940 amounted to 1.827, 241 units against 1,364,761 in 1939, and volume for December was 174,610 units against 181,41 a month earlier and 156,008 in the 1939 month.
DAILY PRICE INDEX
NEW YORK, Jan. 9 (U. P.) —Dun & Bradstreet’s daily weighted price index of 30 basic commodities, compiled for United Press (1930-32 av~ erage equals 100): Yesterday .osccoececscccacces 124.54 Week ago selene ssecsessisRe 124.89 Month ag0 .Jeeesvescsssnesss 133.90 Year ago ves 122.19 1940-41 High (Jan. 's, 1941)... 124.93 1940-41 Low (Aug. 19) ...... 112.42
PNNUAL: Su nl
Denver, Colo.
Inclosed find’
eessanse COPles of
NAMI S80 N N00 ¥ .
CITY i ianaee
W. Washington St.
son Mothershead, Norman A. Perry, Charles S. Raul, Peter C. Reilly, O. Sutphin and
Rocky Mountain News,
which you will please mail at 15 cents per co
“of Jan. 6, 1941, to persons whose names a. addresses are supplied herewith,
STREET OR BOX NO..0c.ovsuneessarassoss
If several mames and addresses ave: su please write clear! Hy on. sepatute shes of | and send with this coupon order.
PRIVATE UTILITY MAY BE SOLD TO
Negotiations Opened; Bid Expected.
NEW ‘YORK, Jan. 9 (U. P)— Formal negotiations were opened
| here today for sale of the $137
000,000 Puget Sound Power & Light in
| Co. to public power agencies
Bonneville Dam area of the State
of Washington. Officials of the Engineers Pub Service Co. which controls Puget Sound utility, conferred: a Washington delegation headed b Dr, Paul J. Raver, the Bonneville Power Authority, and it was understood that a formal ad: would be submitted for the prop-
erties. . Above 83 Million? AH Dr. Raver disclosed a, Sogh
that he was roping offer on behalf of Fine Gly of SE tle, Wash, and Roche tricts in the Puget Sound area, and it was believed that his bid top by a considerable margin $83,000,000 reported to have begn offered by the Seattle interests last July
gineers Public Service Co. had char-_ acterized the $83,000,000 bid as “not” worthy of serious consideration,” on the grounds that the properties involved represented an original ine vestment of $118,000,000. Face Competition Puget Sound Power & Light is the largest single private utility in the Seattle area, servicing some 850,000 consumers in about 450 communities of western and can tral Washington. Both the Bonneville and Grand Coulee power projects, however, are large potential sources of electricity in that area, and since their inception the Puget Sound com ta been facing increasing’ in the form of Rl _
projects.
WIERTON STEEL CO,
Construction of a new blast furnace and 45 additional coke ovens by the Weirton Steel Co. will increase the company’s pig iron and coke capace ity 40 per cent, and will add approxe imately 240,000 tons per year ‘to ine got capacity, E. T. Weir, compay head, revealed today. ational Steel Corp., parent ore ganization of Weirton Steel, plans enlargement of blast furnaces in its plants at Detroit and Buffalo, with the improvements at the three plants expected to cost about $1§= 000,000. National Steel's pig ron. capacity will be increased by a] proximately 700,000 tons annually as a result of the building program. Work at -the Weirton, plant will add approximately 300,000 tons to the annual pig iron diode | and the program is expected completed late this year. yard will be extended, cranes, pie
* |lines and other types of equipment installed and plant buildings will be ;
enlarged or erected at Weirton. “Without additions to
pig iron capacity will make a substantial increase in the duction of steel ingots with’ equipment,” Mr. Weir said.
BUSINESS AT A GLANCE
By UNITED PRESS 3 Alaska Juneau Gold Mining Cov 1940 profit $1,187,600 vs. $1,354,500 In. 1939.
subsidiaries 12 months ended Nov, 30 net income $14,919,850 equal 1 $2.04 a common share vs. $13.410570 or $2.51 previous 12 months. $ 5 5. ree Co Duptmbés suis 2 vs 125 year TR
1.8 per cent; 1940 sales vs. $152,737, 839 in 1939, up 3% per
cent. National Power & Light Co. and subsidiaries November quarter net income $2,773,117 equal to 43 cents a common share vs. $3,187,672 or 3% cents year ago. New York Telephone Co. Nov ber net income $2,235,730 vs. $2,776,§ year ago; 11 months $31,073,943 w $31,581,091 year Western Auto upply Co. Decenge ber sales $6,703,000 vs. $5,515,000 year ago, up 21.5 per cent; 1840 sales
18.9 per cent.
GUARANTEED
AT OUR Usual LOW PRICES
JL SR I
ILL.
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PUBLIC AGENGY
Puget Sound Power & Light
OUTPUT IS BOOSTED
PITTSBURGH, Jan. § (U. Poe
Ve. ;
American Gas & Electric Co. and :
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