Indianapolis Times, Indianapolis, Marion County, 14 January 1941 — Page 17

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TUESDAY, JAN. 14 1041

BRITE WILL SELL ~ PROPERTY INU. 8

Two Rival Banking Groups

Open pen Negotiations for Fur-

chase of Millions of Dollars Worth of Empire Assets in Ameri ica.

WASHINGTON, Jan. 14 (U. P) —Two rival banking

groups, representing the nation’s largest investment trusts,

today began negotiations with British officials looking fo the ultimate purchase of millions of dollars worth of British

investments in this country.

The two syndicates, headed respectively by Lehman Corp. and Tri-Continental Corp, New York, will discus ss the

feasibility of taking over direct investments of the British Empire in controlled properties that may run well.over

$1,000,000,000. The Federal Reserve Board has estimated thet, these investments had a book value at the outbreak of war of $1,330,000,000, of which $850,000,000 was Britishowned, and $475,000,000 Canadian. Faced with the necessity of financing everincreasing war : purchases, Sir Sir Frederick Frederick Phillips, Undersecretary of the British Treasury, told Treasury Secretary Henry Morgenthau Jr. yesterday that he was ready to dispose of “some part” of these assets. Proceeds from the proposed sales, he indicated, would be used for payments on present commitments,

which are believed to run as high!jy

as $3,000,000,000. Most of the properties in which

the investment trusts are interested |}:

are so-called “unlisted” assets—real estate, factories and manufactur-|_ ing plants. Stocks Not Included

According to Treasury officials,

potential purchasers among the in-| #30- 230

vestment trusts are being cleared

through the Securities and Ex-|:

change Commission. Only companies that- receive SEC approval, it was indicated, would be recommened to the British by Mr. Morgenthau. : Mr. Morgenthau emphasized that transactions in “listed” or “market” securities are not contemplated in the projected liquidation. British sales of these assets, he said, were being handled on the open market, without any necessity for private financing. The Federal Reserve Board has estimated that British holdings of American market securities were approximately $1,575,000,000 at the start of the war.

GRIFFITH DIRECTOR |:

OF MERCHANTS BANK|.

William C. Griffith, president of Griffith Distributing Co., today was elected a member of the Merchants National Bank board of directors. All other directors were reelected. They are Fred C. Krauss, F. T. Holliday, A. Kiefer Mayer, William B. Stokely Jr, Otto N. Frenzel, Robert B. Failey, Edward J. Bennett, John P. Frenzel Jr, Hagry J. Herff and Lyman 8S. Ayres.

Oscar F. Frenzel Jr. was elected | sassistant cashier and all other of- i}

ficers were re-elected. They ‘are J. _P. Frenzel Jr, president; Otto N. Frenzel and Carl H. Bals, vice presi-|¢ dent: William C. Grauel, vice president and cashier; G. F. Lichtsinn and M. A. DeWees, assistant cash-

iers: Thomas A. Ressler, assistant,

cashier and manager of the bond department; and R. OC. comptroller.

Schneider President Of Fountain Square

Val F. Schneider, former cashier, was elected president of the Fountain Square State Bank at the annual ‘meeting last night, succeeding Henry Langsenkamp. H. J. Budenz was re-elected vice president;

R. E. Sweeney Jr., former assistant |i cashier, was elected vice president|

and cashier; and Carl Lavrenz was elected assistant cashier. Edward H. Wischmeyer, secre-tary-treasurer of Mutual Milk Co,

was elected to the board. Other med directors re-elected were Henryl

Langsenkamp, Robert E. Sweeney,

Otto N. Frenzel, Harold J. Koch, | Frank J. Schuster and A. J. Von-|

{All Dealers RIITTTTHIA

FIRE-CASUALTY AUTOMOBILE INLAND MARINE I RIV. Le: for Careful Property Owners at Substantial Savings

trons moderatel (107k with med

Smith, | to

ee a ae. THE INDIANAPOLIS TIMES

3-Year Poultry Cycle?

10-Toer Average 1950-30

[GAS USE HEFE SETS NEW HIGH

® Nearly Four and One-Half Billion Cubic Feet Sold in Year.

Gas cons iimption last year set an all-time reiiord of nearly fous and a half billion cubic feet, for a gain of a half billion cubic feet over 1939, the Citizens Gas & Coke Utijity reported todey. The average daily consumption hit an average of 12 million: cubic feet, an increase of 36 per cent over 1935, the lest year of private operation. Domestic gas consumption gained 132,567,000 cubic feet over the pre-

HOG TOP HERE RISES TO $8.69

40- Cent Advance Made in Al Weights as 7499 Porkers Arrive.

Hog prices soared 40 cents at Indianapolis today, boosting the top to $8.65, the Agriculture Marketing Service reported. Some sales were only 35 cents higher than yesterday's prices, but the sgdvance was made in all weights. The top was paid for good and ¢hoice 220 to! 230-pounders. Vealers were steady with a $13.50

op. . | The! Marketing « Service reported 2265 salable cattle, 531 calves, T4989 hogs and 3225 sheep.

Jan, Jin, Jan. an, Jan, Jan. Jan,

Barroivs and Giits | Packing Bows

bod to Choice— |300d to Choice“120- 140 $ 6.90- 33 270+ 300 $ 7.45- 7.15 30. 17.40- 8.25| 300+ 330.. 7.95- 7.65 .00- 838 | Sa0s 360... +15- 7.50 Good--

8.35- 8.70] 4 . 66- 1.10

450. . Be 340 501 50 500. . 06.40- 6.85 .75- 7.95| 250+ 500, - 6.45- 7.00 7.70- 7.85 Slaughter Pigs Mediun— edium and Ge HO] we 160- 200. 17.65-.8.25| 90- 190. 6.25- 1.00 Slaughter Cattle & Vealers (Receipts, 2%65) | Steers

) Bulls Choice | Yeuritngs excluded) 138: 60 s1278.14. hood. 1700-1300 13.50-14.90/SaUtagé~= 1300- “1400 13.75-14. hie Sood

r00d— 730 00 900-1100 390- -100 00

rl 750-1100 1100-1300 Commpn— 17150-1100

Salers, Heifers

3-40 8.00 | ML .00~ 7.50

§.35- 7.00

Rutter And common | Vealer Sood and choice. .

12.50-13.50 mn an gems Fe 0-11.50

Fp oo ——

.75-11.00{ 8.75-11:00

.25- 8. JFeeder a 1% i Stocker Cat ito

531)

$010.50 10-10.50

'5- 9.50 15- 9.50

Stee Chol (Receinis, 1 300 “50 11.75-13.00[>hoice—=

Cio 5 500- “50 10.25-11.75 Good | Heifers

000 11.75-12.75 8.00- 8.75 coming:

db 00 10.00-11.75 800+ 4.00- 8.00 Wifi. Sry, (teers) 900 8.25-10.00iz00d and choise Moms 7.00- 8. 25)ufe Jos, down. 9.60-11.50

n£.00- 9.50 00- 8.00]

8. 8. } & ” Choice

500 awn. Sn (he! fers) é 25- 7.00 Pood and choice

i Sopa. Somfnon 8.00- 6.2 Canner... 4. 00- 5.00 Moo. a wn. SHYEP AND LAMBS (Receipts. 3225) Lambs

Cood | and Shoice vevesel coties $8 2-! 0.73 Medium and good o.00

od. | Medium. . Cutter and

Yearling Weuthels

Jjood | 2nd choice .

Medi 7.50- 8.50 Ewes twovlid) 4

(ood | and choice Comnion and medium .. .e

CHICAGO LIVESTOCK

Hogs—Recelpts, 18,000; tSJosin juny 25 cents| higher; top, good hol R 160- do tbs

Catitle—Receipts, 9000; calves 00D; steer active snd goner ally um Jade choice heifers

te 15 cents o Bigher: bulk; 19 in PH

ly; some shade Beet | vi canners 3 Bie. ers

but t $4.50 2, bulls wesk and mostly AR 2 $8; vealers strong, shippers kind as cattle scarce. 7000; late Monday, Is k igher; top, $10.5 00d. to chaice is d and choict 92-1b. mem to good 3, $10; top faf ’s trade moderately acti ve; fat esa: Ci ly steady 's ade vance: to 0 cents hi } ¢ity butchers on abou and | 00d! to choice handyweight fed lambs; ; | bulk good bo. choice fed Western bs. down to packers, $9; other classes firm; load good fed Texas Jeariisgs, 59; deck | feeding lambs. $9.5¢ $9.50.

OTHER LIVESTOCK

ATI, Jan. 14 (U, P.).-~-Hogi— En weights 160 lbs. u

r; lighter he Ba abc hh Sher, sows 48 @1.25 ek 3 packing [email protected]

attle— Receipt moderately act with Prices nd good 100 medium so steer's Tor icutters, $4. jum Cows, (is common and 1.50; of odd head

ee ceipts, 1 SE hayese lig! ked in "75-85-1b.

on $7.85 down, extreme top trade iy.

sctive; 3.50; replacemen

high as $1 e ts,

2 CINC: Rece Conta and mos! + 1bs.,

$6.5(

6@T; ood | ©

’

"" WAYNE, Jan 35@150 higher; 310 230 1 Ibs., $8.30; o8 190 $8. 2h 250-275 1bs., $8; 275-300 300-325 ry . 70; 328-350 The, 00 1bs., $7. 16 sdb: is. i

4 by P.).$8.45; Too

$7.85: 380 $7.45; 120-130, dbs.

bs, $10, 8, 6.25 -) acai

Fo increasin 'shares of $100 par v Ui 8. ick Co., Tell’

ging and increasin shares common of $100 par ‘alue ‘o shares common withous par value.

cha 1100( 1200(

op. Feceipts 9

7.90 8.40

- 8.00

J 50- 10.50 %.00- 8.50

ease 8.50- 9.00

4.00- 4.50 3.00- 4.00

9 3 Joos -300 1b

p 40 weights unevenly 25° cents

Bows,

heifers a ad 305. 78; dew comnjon_ 1d medilim sausaie bulls, aioted fully steady bu. t sup) ply; ; good and choice

native and Westambs listed $10@10. 50; Te ewes,

o ato lbs., a: 30; is, 1 |

140-150

wler State Bank, Fowler, amiéndme; at aainorised Sapital stock to 800

City, am¢ndme at | EB capital stock from

ceding year; commercial consumption vias up almost 24 :nillion cubic feet, house heating corsumption was up 143 million cubie feet, while industrial consumption “was up 204 million cubic feet to a total of one billion cubic feet. The number ‘of meters in ervice, | air 93,018, represented. a gain 4117 over the seme day a year a lo and 15,654 over 1935.

domestic coke sales amounted t0| Am 241,262 tons, a gain of 20,452 fons,

RENAME DIRECTORS OF FLETCHER TRUST

Directors | ‘of the Fletcher Trust Co. were ri-eltecd at the annual stockholders’ meeting yesterday.

Evans Whoollen, chairman of the board, repcrted that on Dec. 31, 1940, the banking departmeni held

ing totals Yield by the trust depart-

391 |ment: Trust funds invested, $20,-|G 7,499

275,173; trust funds unin vested, $825, 572; clistomers’ securities, $2,303,943; corporate trusts, $23,696,672, and real estate trusts, $5,062, 673. Directors re-elected were Henry C. Atkins, preiflent of E. C. Atkins & Co.; Austin V. Clifford of Lord, Bissell &. Hadyk, Chicago; Joseph’ J. Daniels of Baker, Daniels, Wallace & Seagle; Carl F. Eveleigh, secretary of Eli Lilly & Co.; Frank E. Gates of Frank E. Gates & Son; Hughi McK. Landon, vice chairman |Di the Fletcher board; Norman Metzger, vite president; Howard S. Morse, Indianapolis Water Cc. general manager; Perry E. O'Neal of Thompson, O'Neal & Smith; /Almus G. Ruddell, Central Rubber & Supply Co, president; Robert F. Scott Jr., vice president; Stovrell C. Wasson, Ns tional Malleable & Steel Castings Co). manager; Harold B. West, West ‘Baking Co. presidenttreasurer; ¥vans Woollen, ch an of the boar¢, and Evans Film Jr., president. Directors of the Fletcher | | Joint Stock Land Bank, & subsidiary, also were re-eletced at the annual imeeting of the shareholders that bank.

4 STATE DEFENSE

Times Specicl WASHIN TON, Jan. 14—A $708,-

000 contract for construction of

warehouses at the Army Quarterwas announced by the War Department today. The awald went to Pearsor. Construction Company, Inc, Benton Harbor, Mich. General "lire and Rubber co. Wabash, received an $80,887.11 contract from the Chemical Warfare Service for rubber bands. A $65, 528 contract for 72,000 khaki shirts was awarded to Wilson Brothers, South Benil, by the Quartermaster Corps and |a $1551.38 contrsct for automotive equipment was given the McGill Manufacturing Co., Valparaiso, by the Army Ordnance Department.

BUSINESS FAILURES ADVANCE SHARPLY [EE

NEW YORK, Jan. 14 (U. P.).— Business States in the week ended Jan. 9 rose sharply from the level of the

total was the smallest since &iept. 5, Dun & Bradstreet, Inc, Feparted today.

FOOD PRICES

CHICAGO, Jan. 14 (U — Apples— Michigan Jotiathans, bu., Koh [email protected]. CelTe ichigan, squares, 76¢c. Tomatoes exicall, 1ugs, s3@s .50. Spinach —Texas, 95¢, ulifiow Ce lifornia,

8,” T5¢; 5@86c¢; Coloradc:

an ¥ $1. 1%. '| ETAOINSE PY NEW YOF BD Lo 14 (U. ing R je noon cable rates on Sable

Rate England (pound) ..... iy Cad (ind) v.-e 8 5.10

Fiatind fo rika) ‘031 nla mir ri lg 2321 Sasa Ahi 08) . Mexico

P.). Poa

en | peg 2) y

FAPORTERS L an IMPORTERS . With many European marko(s shut ¢ft, South American markets are bo coming increasingly impertaifl,. We tocommend to you the ANUARIO KRAFT, the most complete business

directory of South America evar pub» lished. Covers Ariatind, Bolivie, Chile, Paraguay, Pern

Four 0) amas, 4% pages,

|, Qatpiid here wn Lhe nited yanfier $20.00.

JosmA B. POWERS. INC, Publishers Representativie

220 East 42nd St. - ow York City

and Uruguay. |

The largest contract inchided in {| the tabulition, according to Louis || Hutchinson, acting state clirector {|for the Ciffice of Government Reports, wert to the Allison Ergineering Co. of Indianapolis for airplane engines totaling $69,7¢ 12,625.

Whil:ehouse

| Mig. Co.;|

||. The coiitracts were: South Bend, for 30,000 neering

on. Everything !

Diamonds, Watchos, - Autos, Camoras, Glothing, Shotguns, E

ol (GY [0

Co., airplane engines, $69,722,625; Servel, Iic., Evansville; ficld fire units for Tanges, $196,100; J.opane- €] I'\: NRE qe

aprons, $9950; Allison Engi | 3 !

AT OUR L

i ® Coke sales totaled 388,644: tons.|Am Foundry colie sales, 147,381 tons, rep- | Am resented a gain of 26,656, ! while Am

500 total resources of $47,421,663 and de-| Ce! posits of $43,130,846. C 500 |" t1is report also listed the sollow-

AWARDS ANNOUNCED E EH

Rt iailures in the United 0

Mi Sweet 20 FOREIGN EXCHANGE fm

or cur-|U:

Jan. 1 this year. I \ ®

High Low —A— 1%

fi 8 hy

31% 7

Al scp . 30 ww hit 1 h Chem Tigh 18 3 a Br oe Am Carer a 63 Hid

Atl C Line .... Aviation Corp..

Bath Ir Wks. . "ea . 38

klyn Butte Cop & Z

Campbell wy . Canada Dry ..

1% . 4% Inv Tr .« 31 Solvents. i 3 Alletars .

Sirs 3

t Oil Del .. 20% Sipweld Stl... Qo inter sane

Rae . § Cub-Am

Sex’ Curtiss-Wr .... : De eee 18

Dist_Se Sk tl oie ils

Dupin 1 Du Pont

East Air Lines. 31 Eaton Mig 3 Elec Auto: h,.. Elec Pwr & Lt. 4% El P & L $6 n. 30% Eng Pub 8

33 4% 0%

' Firestone T eee ue i

Freept Sulphur, Gen Hlectrie . 3

GHdden

Hat Co

Hud Bay M ; Hudson Y Moot ..

Inspiration 13 nterla Hon TT? 1 Lat

e 1 Int P&I

Int T&T

master Depot at Jeffersonville, Ind.,|™¢¥

Marine Mid .. cGraw Bl +e:e 3

9 civille” Sh .. - 33% Pet

Pacifo .. a ont Ward... 39% ueller Br .... 23% ullins pf «ces. ——

Nat Biscuit «... 17% Nat Dairy 14% Nat Distillers. . - . 2314

M M Mo M

No No Puce cscs 1 —C— ohjo Oil .ieeee Th

Omnibus Owens Ill Glass 47%

Pacific L Pac Tin Packard Paramt Pict . iy Davis ...

% 10 47%

preceding holiday-week, when the |Radio

Reyn Tob B .. 34 Richfield ofl .. 8%

St L-8 Fran ... Seab’d Air L, .. SoconyaVacuum Std B .eee Storie & Web . Sunshine Min . . for Oil . Sw & Co ..

Then

SRNR SF RF -y

76 Million Dollars Spent i in Indiana for Defensein 16 Days

Durin the period of Dec, 16 to 31, national defense contracts cleared by the Delense Advisory Conimission in Indiana amounted to $76,750,345. In addition to this sum the Office of Education certified $185,080 for the d¢fense training program in the state during ‘the same month, | Jross

-Inc., Logansport]

port Machine, shaving machines, Paria: 1%

Bendix

Montpelier, pairs, $43,780; C Indianapolis, 1

at Ft. Harrison, $1,506,300.

ola

tet alain ad

Net Last Change 41% — Y 10 . 13a

Topp, =x

LHL +: FL

in =

hE wt : >= =

| se TE

HEH

SEFRFIS

1+:

| a

Sere TR

HHH:

H+

Bendix Avistion

tors, $5664; Montpelier Glove Co., leather gloves, oh ond: trousers, $106,800; Leslie rR dianapolis, 1000 bed general hospital}

*32 '33 There seems to be a three-year cycle for the size of poultry flocks, according to Purdue University’s experts. Indiana’s poultry industry reached peaks in numbers during 1927, 1930, 1933, 1936 and late 1939. A decline is in prospect for this year, Purdve A larger hatch in 1941 than in 1940 is expected and probably will result in more hens and pullets per farm by Jan. 1, 1942, than

Y. STOCKS

By UNITED PRESS

¥ | Woolworth ...

A A 4 A A 2 2 34 °35 ‘MN 'Y ‘'N'» ‘0 ‘AQ

50-million-dollar says.

DOW-JONES STQCK AVERAGES 30 INDUSTRIALS Yesterday ... Week Ago . Month Ago Year AO ..ccocivctians High 1940-41, 152.80; Low, 111.84, High 1939, 155.92; Low, 121.44, 20 RAILROADS Yesterday .

High 1940-41, 32.67; Low, High 1939, 85.90; Low, 24.14. 15 UTILITIES casesecsnesseces 20.65 sessnsssscinccase 20,07 Month AO ...coceovsscce..s 19.81 Year Ago . cansese 235,20 High 1940-41, 26.451 Low, 18.08, High 1939, 27.10; Low, 20.71.

Yesterday .. Week Ago .

est . Willys Covertd ’ . 3% Willys Over ED? . ih Wilson &

Woodward oi 33 . 34 Yo

Young Sheet ... 40 40

Zenith Rad .... 14% 14%

STOCKS DEGLINE $1 IN QUIET TRADING

NEW YORK, Jan. 14 (U. P), — War uncertainties and an impaired technical condition brought a decline of fractions to more than a point in the stock market today Trading continued quiet.

Many leaders were a. point and more lower, including steels, motors, rails, coppers and airline shares. Mercantile shares were sustained by high level of retail trade. Losses in the railroad division were held to narrow limits by estimates that car loadings last week rose more than seasonally and that the total for the week would be the largest for the period since 1931.

GORN PRICES RISE; WHEAT IS LOWER

CHICAGO, Jan, 14 (U.P.).—Dealings in the wheat market on the Board of Trade today were made at fractions of a cent below previous

resting spots. Sentiment was influenced somewhat by the favorable weather conditions in the ‘Southwest. Corn ruled a shade higher. Other grains showed no change of importance. At the end of the first hour wheat was off % to % cent, May 86% cents. Corn was unchanged to up % cent; oats unchanged to off % cent; rye unchanged to off % cent, and soy beans off % to % cent.

WAGON WHEAT Indianapolis grain elevators a for No. 1 wheat, 83c; subject i line change: other grades on Ser merits. Cash eS ne No J ST" Shoted” sors. Bo No. 2 white oats, 398.

LOCAL ISSUES

following tions he the In - hs Bond & are Co do not represent actual price of off but me indicate the approximate market leve on buying and selling quotations recent tr! ons.

14%

Stocks

.Dru Home Tack “Way ne 7 80 Co ype . oid. .108

ing & uch cn Nice Tor pid: .. 108 rv 6% DUA earners 100

Boss Su Elec. n> Se: 49° Theos pal sin cons die Lincoln Wat Life

Nat s com d Pub Serv 5 +.1 Ind Pub gerv fie ped. 1% ) : ven Soup Mik k Wie if i,

f Ei - Co "0 Ind 6 So American Loan 88 51....c.000. 99 erican iin

Pub Be fr rv Co of Ind 7% 0 0 og Sd fn he Union Title Co

COM,ves cocese sesevsesee sessesoe

235832388 FX

ese

; 8s 6... do ak i Sh fee U. S. STATEMENT | WASHINGTON, ‘Jan. 14 (U. P.). kaa

16.1. 0. MAKING. STEEL SURVEY

Report May Ask That Small Concerns Be Used for Defense Work.

By JOHN W. LOVE Times Special Writer

WASHINGTON, Jan. l4-—Labor and management alike are shaping up plans for loosening the chokepoints in the steel industry’s ability to supgly the hardwares of defense. The separate schemes don’t mesh, as yet, but they are not the only ones in Washington which don’t, and some of them may before long. Philip Murray, C. I. O. chief, is in consultation with a number of small steel and iron concerns in Pennsylvania, and the survey the C. I. O. is making of the steel industry is likely to include a recommendation for working their plants into the defense program. Several in Ohio might be interested. The C. I. O.’s steel report. will go

‘to the National Defense Advisory

Commission in a week or so. It will be the counterpart, for steel, of the United Automobile Workers’ proposal to make airplanes in automobile plants. These prospectuses of new roads

ch.|to defense achievement will be

dropped into that swirl fo programs which is Washington today. A portion of the labor program for steel will probably find its way into one of the offices which are trying to bring together the untapped men, management, money and machinery which the big defense contracts have mostly missed so far.

Bethlehem Pointed Out

Mr, Murray is as much worried as the American Iron & Steel Institute’s members over the report that the defense people will bust out in a few days with a gigantic expansion of steel mills, We have enough steel capacity, Mr. Murray insists. If we haven't enough, say the manufacturers, we

% |can provide it quickly by building

some electric furnaces for the specialties, or by such plans as that of the National Steel Corp. at Weirton, W. Va., to short-cut the steel process by enlarging its blast furnaces and coke ovens and making what it calls synthetic scrap, a means of shortening the time it takes to produce steel in the open-hearth furnace. Starting with the view that too many orders have gone to the big steel companies (he mentions Bethlehem repeatedly), Mr. Murray says Pennsylvania has a number of iso-

‘llated and idle blast furnaces, in

such districts as Lewistown and Pittsburgh, as well as many small rolling mills in the Pittsburgh and Shenango districts. Ohio also has some of them and Indiana a few.

‘Higher Prices

These separate blast furnaces remain from the old iron-master days, before the big aggregations of furnaces were built at the steel centers, including the new 1000-ton stacks. .n-their later years the separate furnaces operated only when pig iron was high priced. Mr. Murray may have in mind the possibility of the Government paying .higher prices in certain cases. These blast furnaces are the smelters of the iron industry, taking the red ore and reducing it to pig iron. Next in the steel process come the open-hearth or Bessemer furnaces which boil up the iron from the blast furnaces and make it into that tough mixture known as steel.

Wants to Link Plants

At the other end are the idle rolling mills which formerly took slabs from the steel mills and crushed them down into plates or sheets. Many of the separate ones closed own in competition with the big plants the steel companies erected to finish their own steel. Mr. Murray has not elaborated his plan, but it is apparent he envisions the possibility of linking together the small and separate and idle, or only partly running, units of the old steel industry into a community of interchange which would get them all going again, giving employment

_ |and providing defense materials.

The obstacle is the shortage of open-hearths in the middle of the process, but there are a few idle steel furnaces, and Mr. Murray be-

of |lieves that without too great ex-

penditure the co-ordination could be effected. He thinks the small plants

. |might also fabricate some plate for .. |the 200 new merchant ships.

DAILY PRICE INDEX

NEW YORK, Jan. 14 (U. P).— Dun & Bradstreet’s daily weighted price index of 30 basic commodities,

; [compiled for United Press (1930-32

average equals 100):

Yesterday BONO NNNNINONRNLIINS. .123.98 seesssses.12424 Month Ago (AZ EL RL EAR ER EN ENN NR) 123.29 Year AgO .:..cse.. .121.66 1! 1940-41 High (Jan. 9, 1941) 125.21, 1940-41 Low (Aug. 19) 11242,

LOCAL PRODUCE

Heavy breed hens, Ie bareback hens, llc; en hens, 8c; ack orn hens, 7c; Barred a a ‘white Rock springers, 13% other A hea ers, 12c; TLghorR Springer 1lc; gers. 9c; o s, 6c. ana Grade. A large se 17¢; Indiana e A med m eggs. 1c indiana small eo A Bie "No. eggs, (13c; no grade,

'—No. ye 333740;

C. Butter 1. aC; Dusterty 28c; No. 2, 2 un > ioe quoted oe ‘the Wadley Co.).

Is Your Liver Asleep?

Do You Drag Out of Bed and Drag Through Each Day Without Any Pep? ° Don’t be that way! The only trouble

not done you become bloated, your stomach is sour, and life in general looks

. : 4 ak lisesi 4 Cavsaesnscasesasntssenanen Py

Use

TOPS! Available at all Haag Drug Stores in 25¢ and 50c sizes.

“BED BUGS

SHUR, DETH

‘and Get Rid of Them

and Other Drug Stores, or

ONE US—LIncoin 7458 “FREE DELIVERY

ne 2

No. 2, 10}

pretty dark. ‘Keep that bile moving into |# your intestines every day, and keep that |: smile on your face because you're feeling |Z:

New M-G- M Ald

Harris P, 'Wolfberg has been appointed by Metro - Goldwyn - Mayer Pictures as head of a newly created district including Indianapolis, Cincinnati and St, u

FARM SUPPLIES CALLED AMPLE

Wickard Says We Have Enough for American, British Needs.

WASHINGTON, Jan. 14 (U. P.) —

houses are filled with ample supplies of farm commodities to meet all defense needs, according to Agriculture Secretary Claude R. Wickard. Reserve supplies of grains, food and cotton are more than sufficient to meet American needs, as well as any possible exports to teed and clothe the British, Agriculture Department reports show. Corn stocks on farms—exclusive of warehouse stocks—on Jan. 1 totaled 1,810,218,000 bushels. That was 30 per cent larger than the 19301939 average and the fourth largest on record, although 104,000,000 bushels smaller than a year ago. In addition, the Commodity Credit Corp. owns or has under loan in steel storage bins approximately 260,000,000 bushels of corn. Stocks of corn in the corn belt states were said to be “unusually heavy.” Most Wheat Since 1932

Wheat stocks on farm-—repre-senting about 40 per cent of the nation’s total supply—amounted to 283,882,000 bushels. This was the largest on record except for 1932. U. S. supplies of wheat now are about 310,000,000 bushels in excess of expected domestic consumption and exports before the 1941 crop is harvested. Winter wheat growing conditions are unusually favorable, indicating another bumper crop. Oats stocks on Jan. 1 totaled 792,019,000 bushels. This was 199,000,000 bushels larger than last year and 172,000,000 bushels higher than the average for the previous 10 years. Hog Supply Declines A decline in the number of hogs on farms indicates a meat supply somewhat smaller than for 1939 and 1940, when large supplies depressed prices, but still more than ample for all needs. The. U. S. has on hand enough surplus coton—about 16,000,000 bales —to last American mills two years. Exports have dwindled to almost nothing. The Government owns or has under loan more than 10,000,000 bales. The Agriculture Department estimated this season’s orange crop at 80,327,000 boxes, an increase of 5,000,000 over last season. Florida production was estimated at 28,600,000 and California at 48,052,000 boxes. The Texas crop was estimated at 2,850,000 boxes. Production of grapefruit was estimated at 39,994,000 boxes, compared with 34,975,000 last year. The California lemon crop was estimated at 13,430,000 boxes, compared with 11,963,00 last year. Milk production per cow on Jan. 1 was 3 per cent greater than a year ago and was the largest on record. Egg production per 100 layers also was af .an all-time high, the Department sald."

CALIFORNIA LEADS IN GOLD OUTPUT

WASHINGTON, Jan. 14 (U, P.) ~ Production of gold and silver in the United States, representing a net addition to the nation’s currency reserve, set new records in 1940, the Treasury reported today. Refinery production of gold arounted to $206,993,800, exceeding the 1939 record high of $196,391,000. Silver refinery domestic production

1915, | California led the gold producing states with refinings valued at $49,179,200, Idaho was first in silver production with $12,378,770.

| ENED Men's EPAI -

The nation’s granaries and ware-|

was $50,977,440, the highest since

— PAGE 17

BUSINESS

British Sell American Stocks for War Needs «= By ROGER BUDROW ——e

TODAY'S ANNOUNCEMENT that the British prob= ably will sell some of the real estate, factories and manu facturing plants they own in this country should not be confused with their sale of; American stocks and bonds. Just yesterday the British Treasury announced it had acquired from

British’ rubjects all their holdings of 45 stock and 60 bond issues of American corporations,. The British pay their subjects for these securities in pounds sterlin,

g. They have been doing this for several months now. The reason they do it is to get : American dol- rg) lars to buy war Roger Budrow supplies in this country. Just how much stock in American companies they have sold back to U. S. investors is not known, but the figure is high. The remark=" able thing about it, to Wall Street observers, is that all this selling hasn't caused stock prices in this country to slump. But these stocks are not sold on the regular stock market. They are sold privately. Yesterday's 80,000 shares of Montgomery Ward were offered after the market closed and was reported quickly oversubscribed. It was offered at $39 a share, the. pice the stock closed at on the New: York Stock Exchange yesterday. By “feeding out” the stock when the market can stand the sales: the: British cgents have not

Res>rve Board estimated that Brite ish holdiigs of American securities totaled $1,575,000,000 at the start of the war. Local brokers have taken a part in helping to sell these former Brite ish securities. Just how much has been bought by Indianapolis investors is an unknown factor, but the amount is reported as “very satiss factory.”

s 8 =

HOG PRICES HERE reached $8.30 yesterday, highest since last fall, Marketing experts attribute the advance to a shortage of hogs combined with brisk demand. Part of the increase is attributed to flood needs in connection with the nation’s first peace- rime conscript army. » ” s’ THE NEW Curtiss-Wright pro. peller plant has been underwritten by the Government with a War Department allotment of $14,000,« 350 to the company for financing the plant here and one at Pittsburgh and Caldwell, N. J.

”n ” » Si ODDS AND ENDS: The 13 mils lion dollar ordnance plant that Hudson Motor Car Co. will build at Detroit for the Navy will make gun parts and torpedoes, among other: armaments. . . . Russia is planning to make large purchases of Are

gentine wheat, possibly for transe shipment to Germany to assist in fulfilling its trade pact with the Nazis. . . . Phillips Petroleum drilled. more than two miles before discovs. eirng two new oil sands in Galves= ton County, Tex. . . . Jones & Laughlin Steel Corp. has spent 61 million dollars in the past five years for plant additions and improvements, the company disclosed in registering $28,000,000 in new first mortgage bonds with the SEC,

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