Indianapolis Times, Indianapolis, Marion County, 15 January 1941 — Page 13

Page PDF (13.33 MB)

Back to issue view

WEDNESDAY, JAN. 15,

"| ett fen | | | i r

1941

ESS

BUSI

City’s * Jobless Insurance

Bill SHows

Only Slight Decrease From 1939 Total

By ROGER BUDROV/ MOST KINDS OF BUSINESS IN

INDIANAPOLIS

showed some improvement last] year over the year before. Employers here hired more than 19,000 workers compared to about 16,500 the year before through the State Employ-

ment Service.

But the local office’ paid out almost as much in unemployment insurance benefits as it did the year before. The total in 1940 was $1,496,218 compared to $1,673,616 in 1939.

Naturally the question arises,

George J. Smith, local employment service manager, explains it this way. Better business increased jobs and so more workers got on somebody’s payroll long enough to become eligible for benefits when they were laid off. This was especially true of seasonal and marginal workers. . Another factor that added to the unemploy - ment benefit bill was that industries having model-change and retooling shutdowns or annual slack seasons had, for the most part, more employees on their payrolls than the year before. Consequently there were more persons eligible to draw benefits when layoffs occurred. » " 2

Roger Budrow

THE BIG INDIANA coal mining company, Ayrshire Patoka Collier] Corp, made a profit of $131,541.53 or 92 cents a share during the six| months ended Dec. 31 compared to $69,980.06 or 49 cents a share in the last six months of 1993, the firm reported today. The company operates mines at Clinton, Oakland City.| Staunton and Winslow. ” n ” THE BRITISH have revealed they may sell some of the manufacturing) plents they own in this country but) haven't said just which ones. Among the more prominent ones in which British money is reportedly invested are Lever Bros., second largest soapmaker in this country; Brown & Williamson Tobacco Corp. (Raleighs, Kools, ete.) Distillers Co., Ltd., and Shell Union. Oil Corp.

8 i a

ODDS AND ENDS: Du Pont ig] sulfamate tai

applying ammonium draperies, dresses and mattress, coverings. They claim a flame will char such treated textiles but the £_brics won't actually burn. ... The chemical process industries have spent $3,630,000 on new plants so far this year compared with $8,154,000 a year ago, Chemical & Metallurgical Engineering reports. . .

was exported the last five months of | 1940 compared with 166 million -dol* | lars worth in the same five months of 1939. . . . Business of wholesale | grocers is running 7 to 8 per cent) ahead of last year, American Insti | tute of Food Distribution reports. O00 SL

AWARD $511,594 IN §

HIGHWAY CONTRACTS

The State Highway Commission today announced it has awarded road and bridge contracts totaling $511,594 on highways in seven counties—Grant, Montgomery, Clinton, Scott, Lake, Allen and DeKalb. The largest: contract was for reinforced concrete paving of 1.5 miles on Road 51, from Road 6 to Central Ave. in East Gary, and for paying 1.279 miles on the same road from Central Ave. to U. S. 20 in East Gary. The contract, $167,182, went ta Thomas McQueen, Fores? Park; Ill: : Gradle Brothers, Indianapolis, re: ceived two contracts, one for bridge on Road 9 bypass over the “Mississinewa River north of Marion| at $69,769, and the other for a bridge on Road 39 over Kilmore Creek, four miles north of Frank: fort, at $61,492.

DAILY PRICE INDEX

NEW YORK, Jan. 15 (U.P). _ Dun & Bradstreet’s daily weighted price index of 30 basic commodities, compiled. for the United Press (1930+ 32 average equals 100): y Yesterday e.eeeecessesessnss 124.06 Week ag0 seseecescccesssscne 124.54 Month 280 secessssscsscssase 123.26 Year AgO0 «seesscscccscassane 121.73 1940-41 nigh (Jan. 9, 1941)....125.21 1940-41 low (Aug. 19, 1940)... 112.42

UU. S. STATEMENT

WASHINGTON, Jan. 15 (U. P.).—Goyernment expenses and current fiscal yéar through Jan. pared with- a year ago. ar 1. 1

» A J n ¢

, coni-

Last Year 7,297,800.99 ,103,048.81

on w «»

SIRO RIN OY

This Expenses. §5,637.5] Receipts 3,079.2 Gross Def. 2.35%

to 300

on o—

RRS ON OO ht bt DIL NOB NNO

= Td Se DD oO —— wT =I et 00 pt =I OO an SO ——

136.127. 4,028.30

Customs. . 195

. Only 33! million dollars worth of raw cotton |

ood— ! - 15 3- 800-1050 {| 500- 750 10.25 11.755 Ot

receipts for the |: 13

“Why?”

TOP HOG PRICE HITS $9 HERE

35 to 40-Cent Advance Is ‘Made as Receipts Fall to 5482 Porkers.

Hog prices: continued their sharp climb today with a 36 to 40-cent advance at local stockyards, the Agricultural Marketing Service reported. ' The tcp hit $9, paid for good and ¢hoice 220 to 230-pounders. Prices here have mounted steadily, with only a few minor setbacks, since Dec. 23 when the top was $6.90. Coinciding with the rise in prices has beer. a decline in receipts, attributed to icy roads and the seasonal slump. J : On Monday prices rose 25 to 40 cents; yesterday they were up 35 fo 40 ceats over Monday. That advance was duplicated today. Vealers were steady to 5) cents higher ‘han yesterday with a top at $14. Today's receipts were 1142 cattle, 332 calves, 5482 hogs and 201 sheep. i

Jan, Jan. Jan. Jan. ¢ Jan. Jan, Jan. Jan. Jan.

Barrows and Gilts | [7ood to Choice-—

Packing flows 1300d to Choizi— 751 270- 300 $ 7.85- 8.25 0! 300- 330.. : 7:75- 8.15 0f 330- 360.. 7.65- 8.00

5/530 40- 7.90 7.15- 7.65 6G.85- 7.35

dium-— . 8.30] 250- 500. . (i.65- 7.50 8.20) Slaughter Pigs |Medium and Good— 160- 8.00- 8.60/ 90- 120.. §.50- 7.35 Slaughter Cattle & Vealers (Receipts, 1142) fiteers Choice— 750- 90() 900-1100. 1100-130) 1300-150). 1 Good— 750- 96). 900-110). 1100-130). 1300-1500 edium — 750-1100 1100-1300 Commoli— 750-1100

Steers, Heifers

Choic 500-

.6 A 8 0 .0 9 4

Kl Bulls \(Yearlings excluded)

- 5 Beef-$13.00-14.25) 7.90- 8.40

7.50- 8.00 7.00- 7.50 8.25- 7.00 alas

13.00-14.00 n and . B8.50-12.00 6.00- ( Feeder and Stocker Cattle

eers Bl nota Ss eipis, 352) L ~hoice— 750 11.75-13.00i~560 800 | 9.50-10.50 $.50-10.50

Heifers 8 B18 >» 10ice—. IMedium— : 3 750- 900 11.75-12.75| 500-1000 8.00- 8.75 Common —= Soo: do ‘ L.00- 2.00 jalves (tleers 8.25-10.00|500d and choice— 8.25 500 down. 9.50-11.50 . (Medium 8.00- 9.50

500 down 8.25] Calves (heifers) 7.25|Good and choice— down 8.50-10.50

ood— . 750- 90 10.00-11.75 Medium — 500- 9(10 ommo n-— 500- 900 7.00- - Cows Good... ... 1.25Mediun, . 6.50 Cutter and | 500 comnion 5.25- 6.50/Medium -- Canner... 4.25- 5.25| 500 down. 7.00- 8.50

SHEEP AND LAMBS (Receipts, 201)

Lambs

vereseseshe1810.25-10.75 9.25-10.00 7.75- 9.00

Good and choice Mediur: and good

dearling Weathers

Good and choice

Mediuni 7.50- 8.50

Ewes (wooled)

Good und choice 4.00- 4.50 Common and medium 3.00- 4.00

CHICAGO LIVESTOCK Hogs—Receipts, 11,000; active and 50c tc 75¢ - higher; lighter weights shcwing most

advance; bulk good and choice 150-240 lbs. : top. $9; most 240-300-1b., $8.5(

18.75; od sows, 400 lbs. , $7.50@ 15; 400-500-1b. weights, [email protected] Cattie—Receipts, 8500; calves, 800; feed steers and yearlings. 25c higher: very ac tive trade ‘especially on medium to good grades; all grades and representative grades wanted, however, on both local and outside agcount; most steers selling at $10 @14, with prime long yearlings bids, $15.50; sizeable sprinkling good lo choice steers, [email protected]; best” weighty steers, $15.15; prime weighty steers beirg absent: heifers showed fair advance; bulk. $9.75¢ 25; with prime offerings 2s high as 60: cows strong to 25¢, mostly 10c to 15¢c hizher; choice weighty cows selling ur to $9; bulk fat cows, [email protected]: cutters to $6.25 paid freely: canners, [email protected]: bulls steady; practical top weighty sausage offeririgs, $8; vealers, 50c higher, however, strictly good and choice offering selling at $13@14, mostly, $13.50

chers; closed slow, : good to choice un to 10%-1b. fed Westerns, $10.35G110.65; two loads medium to good 94 lbs., $8.75; today's trade Early sales fat lambs strong to 1%5¢ higher than Tuesday’s best time; all ear! action. on packer account: early lop, $10.7 on load good to choice 89-1b. fed Western; several loads held higher; few lots just good grade, [email protected]; Rood to choice native: lambs. [email protected]: | yearlings steady: load good fed Texas vearlings, $9: no early action on slaughter ewes.

SEAT BRINGS $33,000 NEW YORK, Jan. 15 (U. P.). -- Arrengements were completed today for sale of a New York Stock Exchange membership a: $33,000. off $2000 from the previous transaction made on Jan. 6.

INDIANAPOLIS CLEARING HOUSE |

Clearings ..».... 0. Landen ,..$3,682,000 Deb 9,853,000

TO ANY ONE IN INDIANA

MONEY-TO-LOAN ON ANYTHING

Here’s What You Pay

40¢ 86¢ 10¢ month 86¢ month ! 00 month $ | 50 $3.00

| |

$5 $10 $15 $20 $25 $50 Loan, $100 10a, $200 Loan, month hy | $300 Loan, cost $6.28

WE LOAN YOU MORE

| We also buy diamonds and pay high - est cash prices. Appraisals made fdr banks and estates free.

COME IN AND MEET US '

LINCOL JEWELRY

& LOAN Co. 201 W. Wash. Cor. Capital

WRITE FOR INFORMAMION

Loan, cost per month

Loan, cost | Loan, cost cost ‘cost I month cost

month

Speaks Here

Lawrence G. Holmes of Chicago, will address members of the Indianapolis Real Estate Hoard at

Elotel Washington. Mr. Holmes, former executive secretary of the real estate board here, | is now secretary of the National €onference of Real Estate Taxpayers. Valter H. Maehling of Terre Flaute, Indiana Real Estate Asiociation president, will outline asio- | ] \ ] %

SHIFT LOOMS IN

J ——

500 S Knudsen, idney Hillman, E. Stettinius Jr., John D. Biggers, Ion- S

j| CINCINN. | | Salable, 200} total

tomorrow’s luncheon meeting at

DEFENSE GROUP

Remodeling May Lead to =orming 2 Ministry of | Munitions. By JOEN W. LOVE Times {pecial Writer | WASHINGTON, Jan, 15.—Out of the several plas being sketched up for remodeling ‘he National Defense Advisory Con mission, with its rambling cloistars of industrialists, may come decicions’ this week which would lead to the formation of a ministry of munitions. | The Americinized equivalent of such a ministry would no loriger merely advise {he armed services on their technical and industrial problems, as the (lommission has been doing, but-wou d actually take these problems over and do all the planning and all the buying for the Army and Navy. The War and Navy Departments would shrink tack to fighting arms. The extensive ndustria! work of the Assistant Secritary of War's office, built up over the last 20 years, would be moved over to the anew agency. | i

ment last week the pencils of the reorganizers sit in motion. Meet-

| held daily to go |tions for revamping the Defense Commission. In the meantime the ‘new Production Office begins slowly lto absorb the work of the Cominis- | sion. €onsid 'r Three Plans | The preliminary drawings of | the architects of organization charts, it

| wes learned today, show alterna- |.

ltives to be under consideration which shape Ip as follows: 1. Continuirg the industrial advisory or pl oduction-managerient body but as ja more compact | or=ganization, ti) consist of William

ald M. Nelsor, Leon Henderson and

) : i ; others, but nierging several of the

offices now 'n the Defense Com-

5! mission with paralleling bureaus in

the Army an¢; Navy.

duction Maniigement into a bureau larger than the Defense Com:nission now is| taking over sinjilar De-

| work in the War and Navy | partments, |only, the départments to go on handling all their procurement. 3. Expanding the Office of Production Maiiagement into a true Ministry of Munitions which would add to plan No. 2 all the procurement work. Such an agency would receive and :xpand the bulk of the defense appiopriations of Congress. It would be a New Deal agency

With the foimal establishment of | A the: Office of [Production Mansdge- |;

A rings and heav; {-duty conferences are | A

over the sugges-|4

R.|&

but remaining advisory |°

‘Rubber Imports Gain.

OCTOBER 1940

U. S: IMPORTS

CRUDE RUBBER

=-RAAAA AA) “ARAMA ARAAA AAI

EACH SYMBOL EQUALS 10,000 LONG TONS

Evidence of buildup of U. S. rubber stocks is seen in increased imports of crude rubber during late months of 1940. Chart shows how the 73,588 long tons imported in November, 1940, and the 74,696 tons in October dwarf the 43.085-ton figure for November, 1939. Figures were released by U. S. Department of Commerce.

N. Y. STOCKS

Net High Low Last Change

i Apr & Straus .. 0s

Armour Ill Armstrong Asso Dry Gds . As Dr s 2 Asso Inv pf .. Atchison ...... 21% Austin Nich ... 2%

Ck .

«34

Bendix Avn 19%

Borg Warner. ..

Canada ‘pry. ... C&O

2. Expanding the Office of Pro- gorn

Curtis Pub .... Curtiss-Wr A...

Del & Hud -... Lac & W....

East Kod pof.. Elec Auto- Sk Elec Pwr&Lt ..

Fost-Whl pf ...

Gair Robt .. . 2% Gar Wood Ind. 2 Gen Cigar -..- } Gen Electric .. Ge

lin the sense that-the party would | Goodrich

| have direct ‘ontrol of the vast outlays tor defense. It would be able | so to direct them as to remodel! the | country’s inc ustrial structure ir; accord with i's social purposes. As [things now stand, new dealers can {only advise in the purchases of the | Army and Navy.

Avcid Duplication

Any of these plans would do way with much of the paralleling of functions in the Defense Commission and the War and Navy| Departments. The services have their own advisory and supervisory offices, and with additional advice coming in from the Defense (fom-

ment process, an organization ¢hart that would show the true functions of the variojus agencies concerned with deferse purchasing vould have to be drawn in three dinensions. In the Viar Department, vhere the plannirg functions are developed in a mire unified manner than in the Navy | the Assistant Secrztary of War's cffice has branches for planning,

These advise and supervise the purchasing by the services and combat branches. The Defense Conmijssion now acivises In all three fields, those of th? Assistant Secretary of War, the siipervisory branches and the purchaiing officers. themsglves, and in addition develops pclicies which, if sdopted, percolate down from the S:cre ary of War. | Industrie; get advice from three sources, th: Defense Commission’s men, the production follow-up men (including those of the Ordhance Departmeny’s Bureau of Industrial Service), aiid the regularly assigned ordnance iispectors.

NARROW AT CHICAGO

CHICAGD, Jan. 15 (U. P.).—Al-

|though th: wheat market on the

Board of [Trade exhibited a firm tone today, prices covered a range of only '%4 dent. Other grains showed a moderat¢ upturn. At the end of the first hour, wheat wa¢ up % to 4 cent] May 871%c. Con was up % to %| cent; oats unchiinged to up 3% cent; rye unchanged | to up % cent and soy beans up 3 to 7% cent. I

| |

WAGON WHEAT Ifndianapo {3 grain elevators are paying for No. 1. ‘rheat, 84c: subject to market change: othiI grades on their merits. Cash corn: New Jo. a new vellow =heli’d corn 53c; new Mo. 4 white shelled ovar. 57c; No. 3 white oats. 3%c '

OTHR LIVESTOCK 4TI, Jan. 18. (U. P.).—Hogs— up, 2 higher: 8 WelRDLE oo 100: 146 ibs., $771.75; good padking SONS, $6.50

@?1. : Cattle—S:lable, 300; total, 275; calves, 200: commpn and medium hghtweight heifers ant [email protected]; hea good grade: to $10.75; canner an 4,50(15.75; few common and + good sausage bulls ont Soight. $67.50: venlers fairly weight, .50; rs fairly good midsession trade at steady jo strong

gocd salaple to [email protected]; common and me- @ 10; culls down to arbund $7;

slaughter. cwes, $1@3. FT. WAYNE, Jan. 15 (U. P.) —Hogs— 35¢_higher | 210-220 lbs. $8.80; R90-210 Tos. 8.65: 16(-180 ibs. $8.55: 230-250 lbs. 4 lbs.. $8.35: 275-300 Ips. : bs.. $8.05: 325-350 lbs., $8; 95: 130-160 ibi.. $7.80; Ps. $7.55; 130-140 1b:i., $7.30: ibs., $7.08: 100-120 ‘lbs. $6.80 £4.50; stags, $5.25;

LOCAL PRODUCE

barebsck hens,

$13;

calves,

ers, 12c; eghorn springer springers, nora FOOSTERS, Grade A large

diana Gr. de A mediy s 8c Fo eggs. : Small Gride A an No. bf RRS,

mission at all levels of the pro¢ure-|Macy

nurchases-and-contiacts, | Nat statistics, aiid production follow-up. |y

WHEAT PRICE RANGE

. 1 Gt Nor Ore. ... 15% Greyhound Cp.. 11% wef oe 5134 13Vs —— Indpls Pw & Lt 20% Inspiration Cop 12%a Insshs cts M 6% Int Ag pr pf . Int arvester. t P&P Int T&T wn de Int T&T For..

Homestake _... Houd-Her B ..

441, 5214 1433 25% 23%

Kroger G & B.. 29%

33'2 187%

Loft, Inc ...:. Lorilard of ...162 Mack Tr Mid... 5% Marshall Fld . 14% Martin (Glenn) 30 Mathieson ... 28% ay DS ... 52'2

cKesson

N M M M Vi M M M M

Nash-Kelv at Acme .... 22 Nat Biscuit.... 17% Cyl Gas.... 11. Mal&Stl C. 22Y% Sh

at Nat Ya 25%

N No Pacific Otis Elev Otis Steel ..... 9% Owens Ill Glass 48% Pn Pac G&El 2833 Packard 3%

Paramt Pict ... 11% pf. 46%

Pere Mqt pr 6 Phillips Pet rts 1-128 1-128 HR

Dodge .. 33%:

er 19 Pitts Sc&B .... 6%

St 21% Stl pf.1003 B ... 33% Oil .. 8%’ vou 550 & St 127% vage Arms .. 50%

Roebuck. 77% 10%

Tex Pac L T .. Thatcher ...... Tide W A Oil . Timk-D Ax ... 33% i —— Union Carb

«.. 170 Pn Oil cal .. 14%

40% 1 is 127,

40%2 i273 Tle 357s Y1Va

45 Ya " Year

By UNITED PRESS

DOW-JONES STOCK AVERAGES!

30 INDUSTRIALS Yesterday 132 Week Ago Month Ago Ago High 1940-41. 152.80: Low. High 1939, 155.92; Low, 121.44,

—0.81 Unch. -—1.11 + 0.14

INDIANA TRUST ADDS GRIFFITH

Head of Distributing Firm Named Vice President And Director.

william C. Griffith today was

elected a vice president and director of Indiana Trust: Co., oldest

trust company in the state.

Mr. Griffith, president of the Griffith Distributing Co., was elecied a director of Merchants National Bank yesterday. He is also president of the _ Indianapolis Community Fund and Park School’s board of directors. He is a graduate of Shortridge High School, Phillips Exeter Academy, Andover and the Wharton School of Finance and Commerce at the University of Penasylvania. Mr. Griffith will not assume active duty at the bank until April 1. i All directors were re-elected. They include Frederic M. Ayres Jr., Edward J. Bennett, Samuel Dowden, Robert B. Failey, J. P. Frenzel Jr., Otto N. Frenzel, Dudley R. Gallahue, H. Langsenkamp, Louis Schwitzer, R. Hartley Sherwood, John B. Stokely, Donald N. Test, Henry C. Thomson and Carl F. walk. ufficers re-elected include Otto| N. Frenzel, president; J. P. Frenzel

Ye 20 RAILROADS Yesterday Week Ago Month Ago

Jr., vice president; Arthur Craven, treasurer; Morse P. Brown, vice president and ‘secretary; Fired P. Backer, assistant treasurer; R. N,

William C. Griffith was elected a vice president and director of Indiana Trust Co. today.

WARNS AGAINST FOOD HOARDING

It Will Only Make Prices Go Higher, Advises Fred Lazarus Jr.

341, 19%

133s 91 93s

1915 43% 69's 4%, 30%s 52% 17% 28 Ts 3 57% 83, 38% 37s 202 522 Ya

9412 134 29

29%

433; 28% 3

11% 46%.

100% 33% 83,

a 55a 127%

50s 77% 1033

333s

70 147;

14%

s| Year Ago

2 | US Steel 8|va IC&C pf....

Wabash pf A ..

u Woodward Iron. 32

Younz Sheet .. 8

STOCKS DECLINE FOR

‘15 nearly a point.

Year Ago High 1940-41, 32.67: Low. 22.14, High 1939, 35.90; Low. 21.14. 15 UTILITIES Yesterday Week Ago | Month Ago .

20.08 19.63 25.14 High 1940-41, 26.45; Lew, 18.03. High 1939, 27,10; Low, 20.71.

Net Low Last Change 43 43 Vs 15% 15% 3 50 S50 ‘as 1% 13.1... F..30% 30% 30%. a3 23% 23: 1 viv 90 90 90 vine 01% 673%

High 43 15% 50

133

Un Aircraft ... Un Air Lines .. Un Carbon .... Upne

Yn 18 —

1a . 163% 3Vs caput: .. 10742 . 22% 103, 2s

Ward Bak pf

Wi . Westing El | Willys Owverlnd.

Yo 40

ATH STRAIGHT DAY

NEW YORK, Jan. 15 (U. P.).—

4 | Stocks declined today for the fourth

consecutive session. Volume fell off

? to the lightest of the year.

Losses in the main list ranged to more than a point in Chrysler. Special stocks’ had declines of as much as 3 points in International

« | Business Machines and 2 points. in

American Metal preferred. Utility stocks held better than other groups. - There was nothing definite in the news to cause the decline. Traders were cautious. Their reticence to take on new commitments brought volume down sharply and was reflected in the price of a stock ex-

2 [change membership at $31,000, off

$2000 from the previous sale and a new low isnce 1899. Oil shares turned weak with

+I Standard Oil (New Jersey) off 1%

at 35. Union Pacific dropped 1% to 82%. Du Pont was down 1's at 1613 .and Allied Chemical down 115 at 16112. Douglas Aircraft lost Steels eased fractionally. Airline issues were mixed

. |with American easier and Eastern ?| up nearly a point,

AUDITORS TO HEAR

EDWARD DEHORITY

Edward H. DeHority, Indiana liaison agent for the Federal Deposit Insurance Corp. and former

"| supervisor of banks and trust com-

panies in the Indiana Department of Financial Institutions, will be speaker at the meeting of Indianapolis Conference of Bank Auditors at Hotel Washington tomorrow night. Mr. DeHority will discuss

‘1. | “Security Valuation.” :

LOCAL ISSUES

The following quotations by the Indianapolis Bond & Share Corp. do not represent actual price of offerings. but merely indicate the approximate market level based on buying and selling quotations of recent transactions ;

Stocks

Ask Agents Finance Corp com. . 9 1t RR Stk Yd

Indols Gas ¢ Ind Hydro El P&L com

Van Camp Van Camp

American Loan 58 51........ American Loan 5s 4 Ciuzens Ing Tel 4

grade, 13¢. ; tter— No. 1, 33@33%c;: No. 3 rs B (tterf: B30 $ i

Ta, IR’)

Credit Manag

ome T& “Wavne 5%s _ .102 Crabb-Reynolds-Taylor 5s 42.. 97 r&1l Fy Wavne 68s 43...102 ges 40 63

+... +108 104% 100 .

.. 100 104% -106% 5 107

Nat Silk Hoslerv hs ie N Ind Pub Serv 3%s 69 N Ind tel 828 56 : Pub Serv Co of Ind 4s 68.. Pub Tel Co 4

Yas 5 00 : Richmond Water Wks 5s 57... 102%

ac Term Corp 5s 57 *Ex-dividend.

FOOD PRICES

CHICAGO, Jan.. 15 (U0. P.).—Apples— Michigan Jonathans, bu., $1.15G 1.50, Celery—Michigan, squares, 40@75c. Tomatoes M lugs, [email protected]. a 5@95c. Caulifiower—California, [email protected], Carrots — California, crates, [email protected]. Lettuce—Arizona, crates, [email protected]. Sweet Potatoes—Tennessee, bu., [email protected]. Onions (50-1b. sacks)—Illinois Yellows, 65@90c: Michigan Yellows, T0@ 80c: Wisconsin Yellows, 65@80c; Colorado Sweet Spanish, $1.37%. :

i rectors yesterday.

|Harry H. Wintrode was elected an

2 Wilson Mothershead, assistant to

‘in deposits during the last year.

2| England (pound) 4.04 a 60 | Canada (doflar) 30 ]

ald _E. Christie, assistant secretaries; Charles H. Kellermeyer, auditor, and Boyd W. ‘Templeton, manager of the real estate and insurance department.

Indiana National

Arthur V. Brown was re-elected president of the Indiana National Bank at the annual meeting of di.

Cornelius O. Alig, treasurer of Union Trust Co., was elected a director of Indiana National Bank, also, at the shareholders’ meeting.

assistant cashier. All other Indiana National Bank officers were re-elected. They are

the president; Gwynn F. Patterson, William P. Flynn, Harry R. Fuller, Robert B. Malloch, Clarence T. Brady, C. Merle Brockway and Edward C. W. Wischmeier, vice presidents; Paul C. Buckler, cashier; Ludwig G. Burck, John W. Keller, Byron D. Bowers, Henry A. Pfarrer, John R. Fletcher, Russell F. Petersen, Carl C. Koepper and Frank W. Durgan, assistant cashiers, and J. Kurt Mahrdt, auditor. Directors re-elected include Roy E. Adams, Fred G. Appel, C. Harvey Bradley, Arthur V. Brown, Volney M. Brown, Fermor S. Cannon, G. A. Efroymson, Brodehurst Elsey, Edgar H. Evans, William P. Flynn, J. S. Holliday, William G. Irwin, Herman C. Krannert, John J. Madden, Wilson Mothershead, Gwynn F. Patterson, Norman A. Perry, Charles S. Rauh, Peter, C. Reilly, Obie J. Smith, Samuel B. Sutphin and Russell L. White.

American National

All directors and officers of Amerjcan- National Bank were re-elected at the annual meetings held yesterday. Elmer W. Stout is chairman of the board; James S. Rogan, president; Harold S. Cross, vice president; Henry L. Hilkene, vice president and cashier; E. Marion Lutz and Earl C. Randles, assistant vice presidents; Walter J. Hubbard Jr. Frank E. Cramer, Robert F. Keller and Frank F. Wocher, assistant cashiers; Charles R. Keogh, comptroller, and Eugene H. Iglehart, trust officer. Directors are J. I. Holcomb, Frank A. Montrose, William H. Mooney, william J. Mooney Jr., G. Barret Moxley, Quintin G. Noblitt, Mr. Rogan, Charles B. Sommers, Mr. Stout, Thomas D. Taggart and William H. Trimble.

Madison Avenue Staie .

Roy Hooks, an employee of the Madison Avenue State Bank five years, was promoted to assistant cashier at the annual elections yesterday. Géorge Hilgemeier Jr. was reelected chairman of- the board; G. E. Mueller, president; Arthur W. Heidenreich, vice president; J. F. Davis, cashier, and Mr. Hooks, assistant cashier. Directors re-elected were Mueller, Mr. Hilgemeier, Mr. Hei-

Mr.

22 denreich and Mr. Davis, Chris Bre-|: 53" | hob, Fred Quebe and Richard Haf-|1

ter. The annual report to stockholders showed a substantial gain

Live Stock Exchange

Live Stock Exchange Bank directors and officers were re-elected at the annual meeting yestefday. John B. Terhune is president; Clarence Roberson, vice president; Garrett T. Browning, cashier; Joy C. Miles, assistant cashier, and Walter A. Reinecke, auditor. Directors re-elected include Mr. Terhune and Mr. Roberson; John Powell, Clarence Hawkins, Harry Daniel and H. A. O. Speers.

FOREIGN EXCHANGE NEW YORK, Jan. 15 (U. P.).—Following

are noon cable rates on major currencies: Cable Rates Net Chg

taly (li Finland witzerland (franc) ... Sweden (krona) Japan (yen) Mexico (peso)

IF YOU HAD A NECK AS THIS

SORE THROAT

x DUE TO COLDS

0ANS

is The GHICAG

on Everything!

Diamonds, Watches, Autos, Cameras, Clothing, Shetguns, Etc. JEWELRY

NEW YORK, Jan. 15. (U. P).—

housewives and breadwinners is: Don’t hoard. There's no point in it, even if a| war is going on, and moreover, Mr. Lazarus. said commodity hoarding

merely will help to create the unnecessary price rises the Government is trying to prevent. Mr, Lazarus is head of the F. & R. Lazarus department store of Columbus, 0., and chairman of the Retailers’ Advisory Committee of the National Defense Commission. He said the Government thus far

able to prevent the speculative price rises which upset things during the World War. Of course, there was that “insane” rush to buy sugar which sent the price of that commodity up at the outset of the present European war, but ‘that was before Mr. Lazarus and his committee got going last August. Mr. Lazarus’ nine-man committee was formed at the request of Miss Harriet Elliott, in ‘charge of the Consumer Protection Division of the National Defense Advisory Commission, and was recruited from officials of 52 different national trade associations representing every commodity from apples to zithers.

Credits Four Factors

“For the first time,” Mr. Lazarus said, “the impact of billions of dollars of Government orders in consumers’ goods on the market has not had the effect of raising prices in any substantial amount.” He attributed this fact to four things: 1. Determination of the Government to acquire ample supplies of raw materials. 2. Examination by his committee of all price increases in the preretail and retail levels to make cer= tain they were not speculative or otherwise unjustifiable. 3. Elimination of scare advertising of the buy-now-before-prices-go-up kind. 4, Full information on Govarnment deferise buying to show the effect on industry and “take the scare out” of the situation.

Use Publicity

When unjustified rises are found, the committee seeks to eliminate them through the trade associations and the pressure of public opinion. If publicity does not work, the case is turned over to Miss Elliott. If she is. unable to obtain cooperation ‘from the offender, the whole business is given to the Department of Justice. Thus far, Mr. Lazarus said, little need for extreme measures has arisen. Retail merchants, he said, are not speculators. “They have been burned toa often in the past when they tried to out-guess the market. Their interests, they have found, are identical with the consumers’ interests.”

BEAUTIFUL ENLARGEM ENTS

WITH EACH KODAK RO PRINTED AND DEVELOPED 8 to 16 25¢ Reprints Exposure 3¢ Each Mail with coin=—1-1)ay Service.

TRADE PICKUP

in the current emergency had been;

PAGE 13

IS PREDICTED.

Cleveland Trust Co. "Thinks | Stock Prices Are ‘Out’ - As Barometer.

CLEVELAND, Jan. 15 (U. P).— An ‘increase in general business ac tivity, unforeseen largely because of m.sinterpretation of high steel pro= duction - figures: and ‘low : stock prices, is likely during 1941, the Cleveland Trust Co.'s monthly business bulletin said today. 5 The bulletin termed “fallacious” arguments that .no further expansion is possible in the steel industry because of present operations at virtually full capacity and therefore little increase in géneral business activity could be anticipated. : “Probably it ‘will prove to be true,” the bulletin said, “that a longsustained volume of steel production at about these high levels cannot

output from long lists of other heavy industries, and later on important increases in the flow of goods from the light industries making con= sumers goods. °°

Plants Stock Up

“Considerable proportions of the recently produced steel have been . going into the stocking up of plants which make machinery and imple‘ments and they will soon be reappearing in the form of finished manufactured goods.” The Bulletin explained that be-

Britton, Arthur W. Kaye and Don- The advice of Fred Lazarus Jr. t0|s.ayse stock prices have been con-

sidered business barometers for so long, businessmen could not foresee any expansion of industry when stock market quotations remained “in the doldrums.” “The fact is that stock prices have lost their former attribute of acting as trustworthy indicators and forecasters of changes in business activ= ity,” the Bulletin said. “That loss may not be long-lasting, but at present it is real.” : -

Watch This Jd

Tomorrow

for News of

{HY

Semi-Annual

Remnant

RY:

How fo Make Your Evenings Count

Decide Now to Spend a Few Hours in Classes

Introduction to Accounting Advanced Accounting Courses Advanced Cost Accounting Commercial Correspondence Credits and Collections Principles of Marketing Personnel Management Advertising Salesmanship Business Law : Real Estate Appraising & Financing Selected Insurance Problems Special Writing, Fiction Writing Chemistry, Zoology Economics, Sociology Statistical Problems Psychology English Composition Practical English Public Speaking, Radio Social Philosophy Government, History Algebra, Trigonometry Analytics, Calculus Teacher Training

Fees, $5 to $25 a Semester Full Academic Program, $75

121 Classes Beginning Jan. 27

ELMER DAVIS S 242 MASS, AY ITLL TRE EN)

Indiana University

122 E. Michigan Street RI. 4297

WASTE PAPER AMERICAN PAPER

STOCK COMPANY RI1-6341 320 W. Mich.

FUR COATS Largest Selection in the Stale

INDIANA FUR CO.

29-31 East OHIO St.

SHERWIN WILLIAMS Has a Paint for er

Purpose, * Because it Lasts Longer.

VONNEGUT'S

FRACTURE BEDS Can Be Rented at the New HAAG'S ALL-NIGHT DRUG STORE 22nd and Meridian

OUTFI1TERS TO MEN, WOMEN and CHILDREN

t 2 3 . 4 fe F MODERN CREDIT STOKE

129 Ww. Wash. indiana Theater

is Opposite Us.

Exacting . . . WATCH REPAIRING AT LOWEST PRICES STANLEY JEWELRY CO.

113 W. Wash. Lincoln Hote) Slag. |

ELINED _ EPAIRED EFITTED | Women's

LEON TAILORING CO.

235 Mass. Ave.

And

Special Purchase ur

HATS $2.00

LEVINSON Three Stares

USE YOUR CREDIT at

"MARILYN FURS.

NOREEN CLIGTHING COMPAN

CO. Ine.

A Better Fur Coat For Less Money!

tail to induce expanding volumes of .