Indianapolis Times, Indianapolis, Marion County, 25 February 1941 — Page 8
War, Taxes and British Selling Keeping Stock Market in a Rut
By ROGER BUDROW
HITLER HAD A GREAT DEAL TO DO with the stock market's rise yesterday. Wall Street gathered from his
_ 8peech that the war will be prolonged for some time.
Last week stocks went down and one of the reasons was talk in financial circles that a negotiated peace was in the offing. If peace were to come, the market would drop ‘sharply, according to the experts, because peace would end ‘the heavy arms production and bring all sorts of new prob-
lems.
But the war isn’t the only thing that has been keeping stocks in a rut. Taxes have the market men worried. Thus they were cheered yesterday by the move in the House to ease Excess Profits Tax on some companies— the so-called growth companies. The number of companies = aided would be small, but the fact the Roger Budrow Government is concerned was good news in itself. The other factor keeping the stock market behind the eight-ball is the selling of British securities. Apparently there is no way to end this, because the British need American dollars and are selling the securities they own in American corporations to get the money. Every time the market starts up, the British “feed out” some stock. All sorts of plans are discussed to have this British stock sold another way to relieve the pressure on the market, but nothing has been done about it yet. on ” ” BETHLEHEM STEEL Corp. has received the most defense orders going to any one corporation, according to Poo:’s Register survey. The firm has $1,032,205,905 worth of contracts on hand, not counting orders for 20 destroyers placed directly by ‘the Navy. U. S. Steel Corp. was listed as second largest defense contractor, with $497,137,238 in orders, not counting contracts for six destroyers. Next in order were Newport News Shipbuilding & Drydock Co., New York Shipbuilding Corp., Remington Arms, General Motors, Cur-tiss-Wright, Wright . Aeronautical, Glenn L. Martin and Douglas Aircraft.
PRICES ON HOGS FALL 15 GENTS
Top Declines to $7.95 Here 3 As Receipts Bulge to 10,000 Head.
HOG PRICE RANGE
10, 050
Hog Erie: fell 15 c 15 cents at Indianapolis stockyards today, pulling the top down to $8.00, the Agricultural Marketing Service reported. The decline was made on hogs weighing 160 pounds or more. Lighter weights were unchanged from yesterday. The top was paid on good and choice 210 to 220-pounders. Vealers were 50 cents lower with a $13 top. The Marketing Service reported 2143 salable cattle were re-
hogs and 228 sheep. HOGS
Barrows and Gilts Good jo; Chofoe
3 SoMMILINIMHO © WLNDHELI~IN Somes
° ®
NNN OHNO SO QRRARRD
I) PINION ar It = VSNIOCOWE-IO
-3
Medium 180- 200 pounds Packing Sows Good and Chojee~—
270 300-330 pounds . $30..3 360 pounds . eres
0 360- 400 pounds .c.osussesvnses 400- 450 pounds ... 450- 0 pounds ...
Sh SD0
32 588
238 883
> Pe oS
” 2 ” BY 1942 there will be no unemployment, practically speaking, the Twentieth Century #und believes. The economists of the organization say there are 4,000,000 available idle workers now. The country may repeat its World
War procedure of “drafting” women | cooq
to work in vital war industries, it was indicated. There are shortages of some skilled workers now, surpluses in other fields and this will continue to be the case, the Fund said. Even at the peak of|© arms production there may be one or two million persons without jobs but even during the booming 1920s, the country had a similar “float
ing” unemployment, the economists ‘
pointed out. 2 ”n ” ODDS AND ENDS: Johns-Man-ville Corp. has established a new|C department at Atlanta, Ga., because the South “seems destined for greater industrial expansion in the next 25 years (due to natural resources) than any other section of the country” . . . American Petroleum Institute reports 306 new oil fields were discovered last year, ‘the most ever. Texas led with 125. . . . Defense item: Savage Arms| Corp. earned $1,028,401 last year |S compared with $349,307 the year before. . . . B. F. Goodrich Rubber
Co. has developed a way to process koroseal — synthetic thermoplastic
material—into a transparent and|c
highly durable film which it claims is resistant to sun, oxygen and temperature extremes and will be good for waterproofing and packaging.
Incorporations
8 Earl Park State Bank, Earl Park, PRL WL The Farmers and Merchants’ State Bank of Otterbein, Ind., dissolution. Grocers Service Cor oration, I11., registration of trade mark, “Si ~—Class 44: non-alcoholic LR
Chicago urMar’’
Motor & Axle Parts Service, Inc, Hammond, amendment changing number of dizectors to five. haab & Brother Co., Auburn, articles accepting provisions of General Corporation Act of 1929—800 shares ,of $100 par
value. The Heating, Sheet Metal and Air Conditioning Association, Inc. 35: 520 Greenway Rd., Ft. ayne; no Sanit al stock: to proof do and , Sheet metal work siness; Chas. E. Tharp, William Cupp. Chas, H. Eby. Chicago, Milwaukee, St.- Paul & Pacific Railroa Co., Wisconsin corporation, change of agent to O. Bearman, Eight t. and Wabash Ave, Terre Haute. Zoned Soap Co., Inc., Ft. Wayne; amendment changing capital ‘stock to 5,000 shares Class A comm of $10 par value and other amendment; S. National Gypsum Co., Delaware corporajjom, amendment of articles of incorpora-
Universal Scientific Co., Inc., Vincennes, amendment ajthohzing a. shares preferred stock of $100 par American State Bank of eridan, Sheridan, Ind.; amendment increasing capital stock to 500 a of $100 par value.
Twin City State Bank, Gas City; amendment FE capital stock to 4000
; registraer,” class 48;
& Co., ‘In nc.,, New York, N i he stration | E. trademark, ‘‘Bu get” and elephan esign, class 4: foods and ingredients aa Container Corp. of America, Delaware corporation; change of agent to Jac White, Merchants Bank B yal Furniture Mfg. Cc
ob 8. ag. Indianapolis. Richmond: dissolution.
diana,
Mediu 250- 500 pounds
Slaughter Pigs Medium and Good— 90- 190 pounds CATTLE
Slaughter Cattle & Vealers (Receipts, 2143)
5.50@ 6.35
Choice— 750- 900 pounds 900-1100 pound 1100-1300 pound 1300-1500 pound
[email protected] .. [email protected] +. [email protected] Svteeiienes 12501450
vee 10.50 [email protected] [email protected] . [email protected]
[email protected] [email protected]
5 Ss S
OUIild ound ound ound
1100-1300 1300- 130
Mediu 750- 1100 pounds .. 1100. 21300 )_ pounds use
750- 71100 pounds. ‘ Steers, Heifers Choice— 500- 750 pounds
ood— 500- 750 pounds
[email protected] Heifers
tersscenses [email protected] [email protected] 8.50@ 9.75 7.00@ 8.50
hoice— oe 900 pounds .. 150- 900 pounds Medium 300% | 900 ) pounds esessesstencs 500- 900 ) pounds
secseBssnstee
good saves
Feeder and Stocker Cattle Steers
(Receipts, 901) Choic 50 00~ 500 pounds 11. 300-0055 pounds ... ei 11. 1
00- 800 pounds .... 00-1050 pounds .
edium 00- 1000 )_pounds
mmo 00- 500 p pounds Calves (steers)
Goold and choice— 500 pounds down
[email protected] 8.25@ 9.00 7.50@ 8.25
§ M Com 5
edium— 500 pounds down '[email protected] Calves (heifers) ood and choize—
G 00 pounds dcwn 9.25@ 10.75 Mego 21073
00 pounds adn 1.50@ €.25 SHEEP, LAMBS (Receipts, 228) Lambs
Good and choice Medium and good . Common Yearling Wethers Good and choice Medium
9.00@ 9.50 8.000 9.00
Ewes (wooled)
Good and choice Common and medium ........
CHICAGO LIVESTOCK
Hpgs—Receipts, 13,000; oderately 0
5.60 6.00 3.50@ 5.00
th | tive, steady to 10¢ higher: mostly 5@
on medium weights and heavy Perey , $8, Shapuglys bulk 180- aad 1bs., $7.65@1. 30° most 240-2 g¥Lh Sous 270-330-1b. averages, $7. On 360-500-1b. packing E Sows. $6. ar $d light
butcher i i A 6600; calves, 1200; fed steers and yearlings s strong, instances’ 10@ 1c higher on weighty offerings; trade very slow; under protest; very modera receipts ‘influence; scarce supply heifer showin Shrenpih along with steers: g 12.50 fat steer trade; little h to sell above $12.50, although $14.50 on strictly choice offerings: shipper demand fairly broad OSPREY on weight Steers: Bi heifers [email protected]; odd 8 ty up to $11.50 and better; cows firm; bulls hy at $8.25 down; vealers 25@50c lower with practical top choice wei hey vealers, $13; medium to good Joads, $ [email protected]. Monday fat
Se oils, 3000 lambs 10@25¢ lower; Ey weights shar0.90; bulk handy
ing most, JJecline;, top, $10 0 a um we S, 10.85 t sin $10.60 pi 3 $10.25; oday’ s trade, fat lambs SHAS aw: no trading on better Rigs bidding generally steady or
Independent Employees’ Union o
Workers, Inc, Hammond; Sion Sf Sue
5 and slightly ove on lamb held Sn $11; fat sheep scarce, Steady:
Investments
Indianapolis Bond and Share Ce n
129 EAST
CLS CREE RE SR
on on Everything! Diamonds, Watches,
ceived here today, 901 calves, 10,050 g
212.75 | So
- H Sse srw verony 7.95@ 8.75 Holl
ably LL Wayne 8 5s 42... 5|H 5 me T&T
however, even slight upturn paid | » both steers and heifers main mating P
1933 1934
Abbott Lab. .... 47 Alaska Juneau. Allegh Lud Stl. . Allen Indust .. Alfied Stores pi 75% Airli vod 45
86 favist 1 m.. iw Pow & Lt. Yi ad & SS. 6% Roll Mill... 13 Ral Mill pt Sou Sugar ..... 143% Suthat |.... 133% T&T |. . 100%
Ia
Tobacco ..~ Am Water W Anaconda ¢ Andes Cop ... 9; Armour, Del pi 110% Armstrong 33% 3%
on : An corp. .
Bald Loco ct
BO ud 1d 300 3 “.
riggs Miz .... Judd Wheel ...
Calumet & H.. Pacific Caterpillar
Ches & Ohio... 4 Chi ® Mail Order Chrysler Climax Mov Co Colum Gas, a Som Inv with & Tso."
CO DIM BDI. RD > 3
oly Crane Cb Crucible $31 Cub-Am Sug Curtiss-Wr
Douglas Airc: .. Dow_Chem ....125 Du Pont
Erie iofil.0..
. 23%
ve 13 . 14%, 35%
Fajardo Sug 213% t & 12
141, 35%
Fed Foster Wheel . Freept-Sulphur
Fair Robt Gen | Gen |
Hupp Motor ...
Interlake Ir ... 87 Int Nick ol ! rv
& Island Cr PF coni 3812 Sai Island C Cl pf.126'2 126%:
J Jarvis Co i.e. 12
Kennecott '.... 33% 2%
Leh V' Coal pf. 352
L-O+F Glass ...
LOCAL ISSUES
The following Jfiotasions by
oy 3 of ® rar 3 2 approximate based on buyin vecent transactions. Stocks Agents Finance Corp Belt RE & Stk Belt R Stk Yds JP Dera Ina Pow 4.7% pid.. Comwlth Loan 5% pfd , Hook Drug Inc com 14%; H t Wayne 7% pid 30 jnd Asso Tel Co $6 pf jn & Mich Ble 1% oi Gen Serv 6 8% pid . Indots Gas co Ind Hydro Elec 7% Ind 1s P
Ys 314 35%
market
Bid com...
Progress Laundry hee Pub Serv Co of T Ind po pid Pub Serv Co id Ind 1% pid... So Ind G&L 4.8% bpid.... “Terre Haute Loree 6% pid... Union Title Co com Van Camp Milk pfd Van Camp Milk com Bonds
ericsn Loan a 51
Citizens Bd Sel 4iis’ 61 .... Home T&T Ft Wayne 5%s ...
1G Ind Ind Ind K
KE er Packing Co 4 Morris 5&10 Stores 5s 50 ..... Muncie Water Works 5s 65... Nat Silk Hosiery 5s 42 N Ind Pub Serv 3%s 69
Ya
RIOD ii IO IDI ILO WI DD
WASHINGTON, Feb. 25 (U.
rent fiscal year through Feb. with, a year age :
his Yea . $7, 118, £52, 831. 95 § ,584. 30
rv Xpenses Hecelpts
1935
Iniprovement in domestic demand for farm prod ucts is reflected in the six-point rise in the index of Indiana farm prices between Dec. 15 and Jan. 15, ac cording to Indiana University’s Research. A sharp increase in hog prices and a smaller one in grain prices lifted the index 15 points aboye Jan. 15 a year ago to the highest since mid- 1937.
N. Y. STOCKS
By UNITED PRESS
Net Last Change
+1
| Month
Peis
+:
PEELE
4
DEERE HE
Iie:
.| Vanadium . Yolne Indian Virginian Ry pf 331;
but merely
level
and selling Tatotattons of
U. S. STATEMENT
P.) —Government expenses and receipts for the cur21, compared ast Yea 087
"763, 55
750.
"380.11
Customs '216,042,420.18 231.6
Olea rings | Debits
CINCINNATI, Feb. 26 (U. Salable, 4600; total, 5200; top, and &choice: 300-350 lbs., $6. 75@6. il 1b4., [email protected]; good packing 20.881
Cilio Recents, 450; calves, 400; on and medium § choi ice, Shee: o—Receip goocl to Chototr “S10. [email protected].
FT. WAYNE, Feb. 25 (U. P.) ssady to 5c lower: 200-220 10%, $10 90;
bs. $6. 35; 130-130 1bs., 0 i: roughs, $6; stags, $¢. Fed Western Lambs, [email protected]
3.508
INDIANAPOLIS CLEARING HOUSE 200 10,520,000
OTHER LIVESTOCK
Hogs—
ry or good
100$6@
CO! teers and heifers, 5G SAS fai $7@8; vealers, good a
100; good lambs, $10.50;
op 1
5. Calves, $13.
Advertisement
Day With Dread
Just Because You "Don’t Feel Good?
to pep you ‘up,
Do You Face Each
Maybe all you need 1s Haag’'s Liver Pills take away that draggy
. Year Ago
» | Lon Lorillar
Young Stl Dr..
3 colored hens, Le h
1936 1937 1938
DOW-JONES STOCK AVERAGES
30 INDUSTRIALS +1.25 —0.20 -—0.43 -0.27
Yesterday Week Ago Ago Year Ago High, 1941, 133.59; Low, 117.6. High, 1940, 152.80; Low, 111.84. 20 RAILROADS Trvse vies sevesere. 29.35 26.95
Yesterday Week Ago Month Ago Year Ago High, 1941, 29.73; Low, . High, 1940, 32.67; Low, 22.13.
15 UTILITIES
sess er rane
Yesterday
, | Week Ago
Month Ago
High, High,
1941, 20.65; 1940, 26.45;
Low,
Low, 18.03.
High Lone Siar ce ft. 23%
m. 373% 18%
Low Last i
23% 37% 18%
Sh
_-
artin I Fia™. asonite Cor 25
- ®
Ro) Fa
ullins pf
N
Ess sss
w= o
Nash-Kelv
4 NatiAuto Fibr 2| Nat Dai res
I 1 Nat Distillers... Nat Lead ..... 1
Ohio Oil ..... Otis Steel ....
Revablie Stl
Savage Arms .. Seabd Air L...
Sym-Gould xw.. 5% see . « 35% - 303%
5%
Texas Cop Timk-D Ax Tri-Cont
355s 30% 12 ta lh jon Bn Mo f. Un o 13, a U: cee 39% S .. 127%
iE
20% 2%
+5814 118'2
HHH HE
28Y2 28%
32%
Woolworth
Young Sheet
te - + be 3
DAILY PRICE INDEX
NEW YORK, Feb. 25 (U, P.).— Dun & Bradstreet’s daily weighted price index of 30 basic commodities, compiled for United Press: (1930-32 average equals 100) Yesterday .....esveev:varenee. 124.36 Week ‘ago csravsmisssssivere 123.93 Month 280 .ceeceresnrseeenes 12352 Year ago seenensanssen119.10 1941 high (Jan. 9) ....ee000...125.21 1941 low (Feb. 1D ...........123.03
FOREIGN EXCHANGE
NEW YORK, Feb. 25 (U. P.).—Following are noon cable rates on palo or currencies: tes Net Ch 2
Bois . . only under U. 8. Treasury license.
LOCAL PRODUCE
Heavy breed Sl Dens 145; 5 2 lic; Leghorn hens, No. ghorn . hens, 7c; brotlers 3 he and over, 19c: ite and Barred rocks, 19c; fared breeds, 18c; 7c. jarge, isc: Grade A
gs Grade medium, 13c:- Grade A’ small and No. 2, 11g; no grade, 12c. 1. 32% @33c: No. 2, S040 0. &, {Country °p pickup prices quoted the
lll Dealers Hutnal
FIRE-CASUALYY AUTOMOBILE INLAND MARINE INSURANCE
for Careful Property Owners
: —80
1939 1940 1941
‘Bureau of Business
STOCKS STEADY IN QUIET TRADE
Douglas Aircraft Up $2.25; Sugar Shares Also Advance.. NEW YORK, Feb. 25 (U. P..
"|'The stock market was firm in quiet
dealings today. Leading shares generally: were fractionally higher. Douglas Aircraft was a feature, gaining 214 points to 721%. Increas-
‘ling raw prices brought new demand
for sugar shares. Fajardo moved up % point to 21%, and American Sugar gained 3 to 15%. U. S. Steel, Bethlehem, Chrysler and General Motors were up fractions. Dow Chemical and International Harvester were up about a point. American Locomotive preferred and Savage Arms gained about 2 uoints and Eastman Kodak rose 3 points to 132. Pagific Telephone & Telegraph preferred was weak, dropping 5%
‘points to a new low for the year at
150%. Homestake Mining dipped nearly 2 points.
WHEAT PRICES DIP IN SLOW TRADING
CHICAGO, Feb. 25 (U. P.).—In sharp contrast to yesterday's wild session, wheat prices on the Board of Trade moved lower in slow early dealings today. Soy beans lost more than 1 cent a bushel. Other grains lost ground. At the end of the first howe, wheat was off ' to 3c, May 83% Corn was off % to 5c; oats off 15 to %c; rye off % to 3c and soy beans off % to 1c.
No. 25
J, D. ADAMS CO. NETS $340,585
Profits, Sales, Tax Bill Show Increases Over . 1939 Figures.
J. D. Adams Manufacturing Co. and wholly-owned su es today reported a net in of $340,585 last year compared with $276,713 for 1939. The Indianapolis firm, ‘which manufactures road building and maintenance machinery, reported its sales rose from $4,718, 020 in 1939 to $5,420,432 last year. as of material used, salaries, ages and miscellaneous manufacbi 3 selling, general and administrative expenses rose from $4,304,~ 692 in 1939 to $4, 915,846 last year. The company’s tax bill for 1940 amounted to $209,783, including taxes on capital stock, social security, state and municipal, Federal and Canadian income and Canadian
.| excess profits. This compares with
a $143,272 tax bill in 1939. At the end of 1940 the company surplus amounted to $1,994,831 compared with $1,789,371 at the end of 1939, the report showed. Total capital and surplus as of Dec. 31, 1940, was $4,526,505, compared with $4,321,045 at the end of 1939.
HARVESTER NETS $23,161,110 IN 40
CHICAGO, Feb. 25 (U, P.).—War in Europe has necessitated omission of incomes and assets of International Harvester Co.'s $61,000,000 worth of foreign factories from the company’s annual report, Sydney G. McAllister, president, said today. Increased hazards of foreign busi-
ness and a lack of information on company operations abroad made it “unwise” to present a consolidated report, Mr. McAllister said. The war-time conditions also “made advisable” a $7,000,000 increase in the company’s special reserve fund for foreign losses, tha report indicated. The fund now totals $30,000,000. Harvester’s European holdings include three plants in occupied France and manufacturing or assembly facilities in Germany, Sweden, Great Britain, South Africa, Australia, New Zealand, Canada and Argentina. Notwithstanding unsettled conditions abroad the company reported a net income of $23,161,110, equivalent to $4.11 per sRare of common stock. Sales in 1940 to domestic dealers and users amounted to $248,028,605, a. 33.4 per cent increase over the 1939 total, while $26,653,794 in sales were made to subsidiaries.
the end of the useful life of the basis of the property.
ber of years it will stand before
. date.
Your Federal Income Tax
Depreciation Rate Depends on Number of Years Building Will Be Serviceable.
The amount to be recovered by depreciation is the cost of the property, if acquired by purchase after Feb. 28, 1913. If acquired by purchase prior to March 1, 1913, the basis is the cost of the property, less depreciation sustained prior to March 1, 1913, or the fair market value on March 1, 1913, whichever is greater. The proper allowance for depreciation is that amount which should be set aside for the taxable year in accordance with a reasonably consistent plan (not necessarily a uniform rate) whereby the aggregate amount so set aside, plus the salvage value, Will at
The depreciation rate of a building is not based upon the num-
on the number of years it will remain habitable or serviceable, for the purpose for which constructed. If the taxpayer builds a new building, the period over which depreciation may be claimed begins at the time the building is completed and capable of being used. Buildings under construction are not subject to a depreciation allowance. If it is clearly shown that, because of economic or other conditions, property must be abandoned at a date prior to the end of its normal useful life, so that depreciation deductions alone are insufficient to return the cost or other basis, a reasonable deduction for obsolescence may be allowed in addition to depreciation. - No deduction for obsolescence is permitted because, in the opinion Jof the taxpayer, the property may become obsolete at some future
The Big
property equal the cost or other
being condemned and razed but
Seth Klein. . Joins MarmonHerrington.
Seth: Klein, ‘who has been starter at the Indianapolis 500Mile Classic since the beginning in 1911, has been appointed assistant to vice president Bert Dingley of the Marmon-Herring-ton Co. here. ' Widely known among automobile men, Mr. Klein was purchasing agent of the Cole Motor Car Co. here back in 1912. He was associated with the Fedders Manufacturing Co., radiator manufacturers, for 19 years. For the past eight years he has been sales manager of the Detroit Gear and Machine Division of the BorgWarner Corp. of Detroit. Mr. Klein is also well-known in Indianapolis for his interest in professional football, hockey and trap~-shooting. At one time he was president of the Indiana State Trap Shooters’ Association and the Indianapolis Gun Club.
RETAIL CAR SALES DROP IN JANUARY
DETROIT, Feb. 25 (U. P.).—Retail sales of: new passenger cars and trucks in the United States during January were reported: by the Automobile Manufacturers’ Association today at 371,802 units against a revised total of 379,737 in December and 285,438 in January, 1940. January sales of new passenger cars were placed at 303,303 units against 319,187 in December and 239,509 in the corresponding 1940 month, while sales of commercial vehicles rose to 68,499 units from 60,550 in the preceding month and 45,929 a year ago.
OUTPUT OF LUMBER ABOVE A YEAR AGO
WASHINGTON, Feb. 25 (U, P.). —Lumber activity in -the week ended Feb. 15 was little changed from the preceding week, but continued to hold substantially above a year ago, the National Lumber Manufacturers’ Association reported today. In the latest week production was 2 per cent greater than in the previous week this year, while shipments and bookings were down 2 per cent each. Compared with the -corresponding 1940 week, bookings were up 26 per cent, shipments 23 per cent green and production up 22 per cent.
ORDER 41,600 CARS WASHINGTON, Feb. 25 (U. P.).— Freight cars on order for Class One railroads on Feb. 1 aggregated 41,600, the greatest number for any comparable date in the last 15 years, the Association of American Railroads reported today. On Jan. 1 there were 35,702 on order and on Feb. 1, 1940, 34,559.
See the Want Ads in Today's
STEEL MAKERS SUBSTITUTING *
Scarcity of Certain Supplies Forces Mills to Try New Means.
CLEVELAND, Feb, 25 (U, P.).— The steel industry has started the use of substitutes for various types.
some commodities, the magazine Steel disclosed today in its weekly .
summary. Steel noted also that demand from consumers had starteq to
industry’s present efforts to curb speculative buying but said that despite that and the fact that the current month is relatively a short’
ceed the January total. The magazine listed substitutes. which are beginning to be employed in the steel industry as: A certain analysis of carbon steel in the place of the usual; a different combination of alloying elements in the alloy field; substitutes for certain scarce nonferrous metals; in some cases nonmetallic commodities in place of metals.
Worry Over Markets
“There is considerable worry in some cases,” Steel added, “lest care-
manently.” “Leading steel companies,” trade journal stated, “have begun urging their customers to specify, wherever possible, substitutes for nickel steel. This move results from the fact that supplies of nickel at steel plants are equivalent to 2 to 14 days’. requirements, with deliveries considerably below the level to maintain inventories. By agreeing to accept suitable substitutes, consumers will be assured of a continuing supply of steel.” The publication stated that there
supply of tin, manganese ore or.
tion in zinc, low-carbon ferroman.ganates, ferrochromium, particularly low-carbon ferrochromium, and aluminum.
Prices Unchanged .
Steel said that the delivery situ-" ation had tightened to such an extent that producers were specifying delivery by quarters rather than by" months. Last week’s 2-point drop in steelmaking to 94%: per cent of . capacity was attributed to “wearing out of furnace linings.” All three of the magazine's com= posites were unchanged last week, steel scrap at $19.91, iron and steel at $38.23 and finished steel at $56.60.
WAGON WHEAT
Indianapolis grain elevators are vaying. 1 whe subject to marke
4 white shelled corn, 57c;-
corn; new 53¢; No.
0. new No. 4 yellow shelled corn, 2 white oats 32c
To Exporters and their Adveriising Agents
are Jou do dein about PANAMAT The building of the third system of locks is bringin Jo? numbers of new workers - skilled, unskilled, professional men - and our national defense has meant a greatly enlarged .military establishment. This all means important new sources of revenue, largely increased sales. The PANAMA AMERICAN, most important news paper, has gained and holds its commanding lead by its progressive editorials, excellent reporting of loca’ news, ils complete covergge of world events by United Press and Editors Press, and its defense of the Amer. ican viewpoint. IF it isn't on your budget, let us give you complete information.
JOSHUA B. POWERS, INC.
Publishers Representalives
220 East 42nd St. New York City
(R1A HR \ TIONAL (AL
HIB ITTTHUHTTOIS
PENNOYLVANIA
AARKE |
AT NEW LOW PRICES
Event of the Year Now in Full Swing. . . . Wonderful Opportunities to SAVE $25 to $100 on Top Quality Used Cars... All Models and Years.
LIBERAL TRADES and TERMS
“level off,” largely because of the
of steel because of the scarcity of, .
ow
one, February steel orders will ex-""#
fully built-up markets be lost perthe *
is no concern over. the immediate. ..
tungsten but there is a tight situa- --
/
| fecling and put you on top of the clouds. If wvour liver 1s not secreting bile flow into the intestines as it should, you lack energy and interest in your work, friends and plans, Don’t let gas bloat you up, sour stornach and pull you-down. Take Haag's Liver Pills and feel : TOPS! At all ve died 2 Qualisy ; Dru 3a Sere
at Substantial Savings
Wa. 2456
- Autos, Cameras, Clothing, Shotguns, Ete.
JEWELRY CO, Ine.
LOANS
iF The CHICAG
ig in 146 E. WASHINGTON ST.
the State
TIMES