Indianapolis Times, Indianapolis, Marion County, 3 March 1941 — Page 4
|
~ the “pyramiding” of utility holding
5 _ Reger Budrow of interest last spring when the . ‘common . Power & Light Co. was offered for = sale to the public.
. part of the Utility Holding ComPany Act.
More Than 11,000 Persons Now Own Indianapolis Power & Light Stock
ES — By ROGER BUDROW
~~ THE INDIANAPOLIS POWER & LIGHT CO., instead ©of being owned and controlled by one big Eastern utility
holding company, is now owned and controlled by more
“than 11,000 persons, the company’s annual report shows. A year ago all the outstanding common stock of the
~~ local utility—and only the holders of the common stock can ~ vote—was held by the Floyd Odlum interests, more specific- ; ally, by the trustee for the estate of the Utilities Power & ~ Light Corp., a holding company.
This Administration has opposed
companies and has wanted utilities owned, | as much as possible, by |
HOG PRICES Up nesses 10 T0 29 GENTS
utility is LF Top Boosted to ed to $8. 15 Here; Teal rere ov 1501 Porkers Arrive
Wall Street or At Stockyards.
La Salle Street corporations. | HOG PRICE RANGE Tep
Thus there was a great deal Receipts 6,758 8.10 © 5677 8.90 10,083 8.00 1.500 8.10 9,225 8.00 10.050 8.05 6,702 7.95 8,585 8.05 5,558 Sssesnesrdiens.. B08 1,500 Seeseas ser ivacs 8.15 7.501
Feb. 19 . Feb. 20 . Feb. 21 , Feb. 28 Feb. 24 Feb. 28 Feb. 28 ..cocvcneerecnss Feb. 27 covvstacsssssessasas Feb. 28 .00 0000s, Mareh 1 ... March 3
sevess revs
stock of Indianapolis
*Besecsesctepnrane
sesestsssssgenttene
In view of the attacks upon utilities, would the Public want utility stock? It was the Irst major test case of the famous so-called “death sentence”
eetsessesvsesvegenns een ssssses Sesto
tear cases Sense
The answer In this case was an
- No other state even approaches that.
ic “yes.” The stock was . oversubscribed and the books were ‘closed before noon. Preference was. given to Indiana investors. The result is that that 2994 persons in Indiana own Power & Light Co. stock.
California, Connecticut, Illinois, Massachusetts and Missouri persons hold fairly large amounts of the ~ stock, the annual report shows. Al-
Prices on hogs rose 10 to 25 cents at the Indianapolis stockyards today, the Agricultural Marketing Service reported. : Hogs weighing 160 pounds or more sold 10 cents higher than they did Saturday while lighter weights rose 25 cents. The top was boosted to $8.15 for good and choice 220 to 230-
{
~ tions.
|
roadway repairs, most since - 1931.
donated by Texas City Terminal Co.
" madian newsprint sold in U. 8. is
~ ing ventures.”
pounders. The Marketing Service reported 1334 salable cattle, 546 calves, 7501 hogs and 1242 sheep were received here today.
together the utility is now owned by 11,593 stockholders. More than 88 per cent of these holders own less than 101 shares each. Idaho is the gly state not represented in the
ALTHOUGH IT’S practically an open secret that Allison soon will introduce an airplane motor with ‘twice its present 1000 - horsepower one, practical production of 2000horsepower motors is still months away and many difficult engineering problems remain to be solved, Socording to the Wall Street Jour-
HOGS Barrows and to Choice— - 140
180 180
SSA audkszgay ® 090900088 HAR eN®mI3a BYErE88S
1 IIIB
= a 8 & 2
pounds
Packing Sews Good and Choice— 270- 300 nd 300- 330 pou 3.30- 360 pounds
00d — 360- 400 pounds eoevsvrnesiss 400- 450 pounds .... 450- 500 pounds Medium 250- 500 pounds Slaughter Pigs Medium and Good—
CATTLE Slaughter Cattle & Vealers (Receipts, 1384)
M ns addition to weight, size and gasaline consumption, there are such problems as radical changes in plane and propeller designs. Wing changes might be necessary to permit higher . Propeller is the “acute” problem and there is talk of a revolutionary double propeller with two sections revolving in opposite direc-
338
seven vRRRes
30 © on S
Sevsnense
ADA Wma
® Ana aaa a 388 85%
g ®
2 a»
SOUTHEASTERN ASIA is a richer prize for Japan than Southern China, Business Week points out. More than 85 per cent of the world’s Tubber comes from ihe Duich ang, 2 tish colonies there, per cen 00-1300 3 the hemp and more than three-|L30%:1500 pounds fourths of the world’s tin. deeisrees Largest oil fields in the Orient i are in the East Indies. There are 1300. 1500 great iron mines in Malaya, bauxite (whence aluminum comes) in the Indies, vegetable oils everywhere, great supplies of rice in Indo-China and Thailand, tobacco and spices in Java and Sumatra, gold in Australia and Sumatra.
» »
ODDS AND ENDS: Standard Statistics Co. and Poor's Publish-| “ing Co. stockholders will vote this week on a proposed merger which ‘would place under one manage‘ment the largest and oldest finan-|gGooa ‘cial and statistical publishing com- | Mediu panies in the U. S. New name: |Canner " Standard & Poor's Corp. . . . Railway Age says railroads spent 497 milion dollars in 1940 (2135 for every. mile) on track equipment and
5.50@ 6.35
Choice— 750 900 pounds [email protected] 900-1100 pounds 13390142 12.26 cessessecees 12.28
ees 10.50 .s 10.
14.25 14.25
12.50 12.35
10. 12. . [email protected] : $81 .50
1.75@ 8.75
“et 0020sc0e.
1100 ds 1 190-1300 pounds
Comm 750-1100 1 pounds © Steers, Heifers
Chol 508.7 750 pounds
500- 750 pounds
Choice— 750- 900 pounds ... ood—
[email protected] [email protected]
» ssssscees [email protected]
csssstensve. [email protected] cersesseses, B8.00@ 9.50 7.00@ 8.00
7.50 sere 6.50
6.50 5.25
7.65@ 8.00
188 19 . America’s first tin smelter will 7.00 cost $3,500,000, be built at Texas City, Tex., paid for by ReconstrucFinance Corp., process 18,000 cull tons of Bolivian tin annually. Two
interesting sidelights: The site was
[email protected] 1. 30011. .00 6.00@ 7.50
Feeder and Stocker Cattle Steers (Receipts, 546) Choice—
500- 800 pounds 10.00 800-1050 pounds ....
esse 10.00
sessssescss [email protected] Serene 9.00 10.0
8.25@ 9.00 1.50@ 8.25
11.00 and a Dutch company, N. V. Bs | Gea 11.00 fon Maatscappij, will manage the| 500- 300 pounds T. . . . One-third of all Ca- 30d 1050 pounds . $00- 01600 | pounds
$00- 900 pounds Calves
transported either by boats or’combination of trucks and boats, acding to returns compiled by can 3 Newspaper Publishers As- . Federal Security Ad-
(steers)
um— 590 pounds down [email protected]/ " Onlves (heifers) Oe pana a Medium— »
wanting to take vocational g to get defense jobs to beof unlicensed jSamgroial +schools “guaranteeing” jo persons who pay “stiff fees” to take their courses. He says they “have| oq and choice inadequate equipment, no super-| Medium and Voo wision and are wholly money-mak-|©
[email protected] 1.50@ 9.25 SHEEP, LAMBS (Receipts, 1242) |
Lambs 10. s0@10. 9
Gk
9.00
Yearling Wethers Good and choice Medium
Good and 6.00
choice Common and medivin avian
LOCAL PRODUCE
de eh ad engi No, 2 : . olor. s, llc; rn hens, 10c; 0-32 average equals 100): 2 Leghorn Lens, "¢; i 3 lbs. ..124.31 | over, Joe: White i colored breeds, 18c; +124.36| gcc Grade A, lar
.123.43
119.22 . " 33c; 2, 30} T'125.21 2433: No. 2, 0%B]
{Coury picku rices uoted by the .123.03 Wadley Co.) yy y y
RICE REDUCED-THIS WEEK
DAILY PRICE INDEX
~~ NEW YORK, March 3 (U. P.).— Dun & Bradstreet’s daily weighted ce index of 30 basic commodicompiled for United
350
Press 2
cocks,
rge, "150: Grade
1 high (Jan. Dersionsons 1 low (Feb. 17)
E GLASSES—Call quick for this unusual offering. rn stylish rimless glasses complete with “‘Gold-Filled” ved mounting and TORIC lenses for FAR OR NEAR at our new low price.
15 si Trial! 15- day
LOWEST PRICES
Largest Opticians in America
Principals of this firm own a large optical factory and chain of fagtory-to-consumer retail optical parlors in America
enses duplicated. tra trames repaired and replaced. Oculists’ prescriptions
every M Wel. and Fri. to Radio Station WIRE for ] ] Reo a complete analysis of the war . oir 5 gf ii iy
CREDIT IF DESIRED NO EXTRA CHARGE
a Tu at, rs to 9 P.
785: 210: 5320-10, averages, Sue 400
v 9.50] good
6.00
and | 1d te, snd Barred oS Doks, 19¢; | §
Al2 A small and No. 2, fos.
| Colorado sweet
INCREASED SOIL PAYMENT URGED
House Agriculture Asks $1,420,977,559 For Department.
WASHINGTON, March 3 (U.P.) — The, House Agriculture Committee today recommended that $1420,977,559 be made available to the Agriculture Department and
beginning July 1, including funds for parity payments. Along with the favorable report on the fund bill,. which carried|S $890,824,037 in direct appropriations, the committee sent Congress a summary of the farm outlook by Agriculture Secretary Claude A. Wickard. He said that the American farmer pocketed $9,000,000,000 in cash income in 1940 and can expect to get $500,000,000 more than that this year, Biggest individual item in the ap-|po propriation bill was $499,521,220 for|”" soil conservation payments to farmers co-operating in the depart-|Ex men's programs. This was $60,964,480 greater than the amount appropriated for this year.
vision was made for parity payments to farmers to help bring their income up toward a figure representing @ proportionate share of the national income. The amount provided was $212,000,000 but, only $50,000.000 was in direct appropriations. The remaining $162,000,000 was in contract authorizations. Myr.. Wickard estimated that the
s| farmer still is about $2,000,000,000
short of having parity income and that the department is considering the possibility of asking for rein-
25{ sta bement of processing taxes by us-
ing the certificate plan as a means|y of raising domestic prices. in approving the parity fund, thé committee struck out language that would have made spending of Lhe $162,000,000 discretionary with President Roosevelt.
CHICAGO LIVESTOCK
Hogs — Receipts, 12000; her’ 4 AeuyL! rerally 5 to ns cents hi hers $8, ull good and choice, 180- Pn: 73 @8. 70 1b butchers,” 57 2 Sows, ii Jight-
i00-1b. packi
i led retarded by dense fog ges very heavy rain; steers predominated in crop; mostly medium to good grades with spr kling ey glering Eastern orders|P nairow; most early a fon on medium races selling to local killers at $10 down: loads to Eastern order buyer, $11.50 80; 4.50 bid on_ choice weighty bulk crop, [email protected]; heifers in moderate supply, stea ar. especially on mediv grade: very little above $11, stric tly choice offerings held above $12: [coy steady to weak: bulls strong to a shige ghar. vealers closing 50 cents lower it few stickouts early at
ug He is. eep—Receip bit ay oe fat lambs 25 c than Friday; a "310. 80d 10° TS on good and choice fed Western lambs, Recor in| ing to weight; holding best kind at atiove; nothing - -done early on: fal Hheep.
OTHER LIVESTOCK
CINCINNATI, March 3 (U. P.).—Hogs— Silgble, 3000; total, 3325; active, Paws al gilts scaling 180 lbs. up, 5 cents higher than Friday and 10 cents above at uzday’'s quotations; weights under 180 14 5 25" cents higher. tcp $8.15 f and choice Te 51 1bs. Darfows aud gilts, -260 lbs., $7.85; Bo 350 1 | $i@r So: -180 Tog: 8: dium he ip) good grades, 140-160 1bs., MN e6.85@7 15; ous. sows strong to 25 cents higher a
8. ttle Beneipis, 1000; calves, salable and total, 250; most sales about steady, ssluble and total, 250; most sales about steady on slaughter classes, Seve al lots medium and goo dheifers, $9@10. good 5612-660 1bs., at outside; Le lots 5 | medium Ds [email protected]; common steer of5| fernigs, $8.50; load medium 950-1b. steers and part ds, 1006-1b. weights, $9.50;
ew 12
steer 8;
down;
10.000; os Slow; most nis lower
and choice, $12@ dium. [email protected]; culls 13s. Sheep—Salable, 200; Bulk “of Tun comnrised full deck lots good oo choic od clipped lambs !
3; common and
lambs ond sheep scarce quotable around steady.
LY AYNE, March 3 (U. P.).—Hogs— 2 ents Th " 220- 1 i a
FOOD PRICES
'HICAGO, March 3 (U. Be Anpies. AEN Jonsisons, aoe} $1
Mi chigan uares. iMoxichn gs [email protected]; nach, BSC caulifiower. California crates 6) i503.65 ; lettuce, Calilornia crates, $2@ swet nesse nin T5¢: ellows,
.. $1.235@ Michiga 622 @90c; 1.60; onions (50-10. Fo 5), Wisconsin yelSpanish, [email protected]..
U. S. STATEMENT
WASHINGTON, March 3 (U. P.).— Gover) — expenses and receipts for the current fiscal year zp Drough Feb.
pared with a yea
Cllearim, Debits ”
NEURITIS
ERLINVE, PAIN IN FRW BINUTLS
shetidn fi ok | A
Group Am
its |B
affiliated agencies for the fiscal year B
For the third successive year pro-|
moderately ave mostly steady. |N
bs., $7.80; |Ci
Di 3
Tomatoes, Texas, N
Sa SINE
Net High Low Last Change —i— Alaska Juneau . i i% 33% 3% 13
Mn: PEST ES Fx
os
Am €: A COT Armour Ill .
DIEHL
Cerro de Pasco. . Chi Mail Ord... Chi RI P Chi RI & P 17 pf LD
ss - Wr .. 8%
is
.e 20 ‘144% 144%, fi - }% 30% 28
Curti
De & Co
Elec Auto-L . ~cell-o
g vhnd Crp . Greyhnd 5% pf Hin A, | Holly Sug ... 11%
Ill Central Int P&P
Int, T&T int "T&T
Leh V Coal pf . 3% 3% Lockheed Airer. 24% 24% Me 4% 44 ol 2% AI &
Marine Mid. Mayta;
engel 1s Aiding Su! 0-K Te
Nat Acm 1 Nat Biscuit “ee Nat Dairy
Nat Sup 6 pf. Natomas Newpt News Sh. 223 Y Central... . 12%
Pac T & Pac Ti Packa Dd Co.. Pathe Film ....
but | Radio
. 32, i 38%
Revn Tob B.. 32%
Safeway 38%
LOCAL ISSUES
The joliomng Soaions by the Indianapolis Bond & do not represent actual price of offerings. but anerely indicate the approximate market level based on buyi and quotations of recent transactions. Stocks Agents Finance Co. Inc. com. Agents Finance Co. Inc., pid... Belt R e
Bid Ask Va » 20 .
. : medium | led offerings, $9.50; iower grades |Van
A a a —— 23333333888
a | South P
. Swift Intl
Vadsco Sales rine
Edsel Ford, in'rear seat, and grinning Gen. Charles H. Bonesteel, commander of the Sixth Corps Area, take a bouncing ride in the first Ford “blitz buggy” to come off the assembly line. praved the midget car’s initial tests,
Army observers ap-
N. Y. STOCKS
By UNITED PRESS
DOW-JONES STOCK AVERAGES
30 INDUSTRIALS
Saturday ...............c.. 121.86 — 0.11
146.43 + 0.10 133.59; low, 117.66. 152.80; low, 111.84.
High, 1941, High, 1940,
Saturday Week Ago Month Ago Year Ago High, 1941, High, 1940,
27.35 + 0.20 treeseressaranann 27.91 — 0.16
29.73: low, 26.54. 82.67: low, 22.14, 15 UTILITIES Saturday Week Ago Month Ago Year Ago High, 1941, High,1 940,
19.05 + 0.05 19.55 — 0.01 + 0.08 20.65; low, 18.81. 26.45; low, 18.08,
Net Low .ast Change 19's 13% “eas 15-16
1p 34) 17% 17%
. Hi So Por 2 Sue. Std
: 13% aa 42% lJ Union Carb ... 65 Us ae 13Va . oor:
Texas Corp .... 35% Timk-D Ax 5
Timken R B..
35% 2%
a5 13% 83% . 20% bs 8. 58'2 58% Univ Piet’ 1 pf. .140 140 —V— 7-18 wi Wam 3% 232
7-16
w
Auto Sup.. Whit,
Mot .... 1 Woon
«IN, Y. STOCKS STEADY
AFTER EARLY DROP
NEW YORK, March 3 (U. P.).— Stocks steadied in afternoon trading today after an early decline of fractions to 2 points. ® Near the end of third hour, leaders had come back fractions to a point from the lows. Bethlehem,
«Which had touched 176% off 2,
firmed % point. U. S. Steel cut a gain of more than a point to a fraction. Chrysler and General Mot-
sors reduced losses.
Demand developed for Pure Oil.
,|A block of 5000 shares sold at 7%,
up %. Other oils were steady at fractionally lower levels. U. S. Rubber and Allied Chemical showed a small gain. Thin markets developed in Universal Pictures first preferred, which made a new high at 65, up 8 points. _ Early declines were ascribed to uncertainties over the Bulgarian sit-
s{uation. Later, the market was fae| vorably impressed with the weekly | report of the American Iron & Steel
Institute showing the steel industry scheduled to operate this week at 97% per cent of capacity, a new all time record on a tonnage basis.
"FEW CHANGES MADE
IN WHEAT PRICES
CHICAGO, March 3 (U. P.).— Wheat prices on the Board of Trade hovered around the level of the preceding close in a narrow trade today. Other grains were little revised. At the end of the first hour wheat was unchanged to off 4c, May 833%. Corn was unchanged to up %c; oats off %c to %c; rye up %ec to %c and soy beans off 4c to 3c.
WAGON WHEAT Indianapolis grain elevators are vaying for No. 1 wheat 81c: sub to market change: otner grades on their merits. Cash corn; new 4 white shelled corn, 56c; new 'No. 4 yellow shelled corn, 53c; No.
15 (2 white oats 32c
Incorporations
A. Mewborn, Ine.. Indianapolis,
Hen dissolution Table Fen nis Tournaments, Inc. Indianapolis, dissolution Serbian-American Mem ocratic Club of East jcago, Indiana, Inc., o.. 3848 Ca East Chicago: no capital stock: and civic; Nick Pop Svieh, Mike 8am Kugar, Sam Vujnovich, Geo
senovie ch. Hundricks County Farm Burcu Co On erat ation. Inc., Danvi ment nereasing | common SR ile to 15. hares of $5 Pg and providing i L) perpetual existe
Guaranteed
WATCH REPAIRING DONE BY EXPERTS
H. H. Mayer, Inc. 2 Ww. Washington
OWNING YOUR HOME
is one of the most satisfactory investments you can make.
Helping You Finance Its Purchase Economically is an important service we have to offer.
WE INVITE YOUR INQUIRY
THE UNION TRUST COMPANY Capital and Surplus $3,000,000.00
Oldest Loan Brokers in
the State
LOANS
The CHICAG
146 E. WASHINGTON ST.
on on Everything
Diamonds, jamonds, Watches, Autes, Cameras, Clothing, Shotguns, Etc.
JEWELRY CO. Ine.
. (lished by law; granting draft de-
, | ployment Service; effective measures
Lo TE
PROGRAM URGED
20th Century Fund Committee Opposes Preventing Of Strikes by Law.
NEW YORK, March 3 (U. P.).— A comprehensive program designed to prevent strikes and labor disputes in national defense industries was outlined today in a special report prepared for the Twentieth Century Fund by a committee of business, labor and economic experts. The report, based on the findings of a lengthy survey of labor-man-agement problems in connection with the defense program, vigorously opposed any attempt to prevent strikes by law and condemned “competitive bidding” for workers in defense industries.
At the same time, it maintained that labor has “a clear obligation to seek a legal remedy in preference to direct action, when confronted with unfair labor practices.”
The committee, headed by William H. Davis, retiring chairman of the New York State Mediation Board, presented three major recommendations as a “working program” to eliminate labor-manage-ment friction:
Asks ‘Super’ Agency
1. Formation of managementworker corgmittees in all defense industries, with a similarly constituted national defense labor policy committee to act as supervisor. The supervising committee would advise the - Office of Production . Management on all questions of labor policy affecting defense production and would also have the right to raise questions on its own initiative. 2. Establishment of a three-man Federal emergency mediation board to supplement existing agencies which would serve as a board of final appeal from all conciliation agencies dealing with the defense program, along the lines of the War Labor Board in the first World War.
Urges ‘Cooling Off’
3. Voluntary inclusion of clauses in all collective bargaining agreements to provide for mediation and, if possible, for a “cooling off” period before strikes or lockouts. Other measures recommended by the committee included upholding all existing labor standards estab-
ferment to skilled workers needed in vital defense industries; extension and improvement of the U. S. Em-
to prevent any sharp rise in the cost of living during the defense period, and “forward planning to meet the crisis that will occur when defense production ends.” In addition to Mr. Davis, the Fund committee comprised William L. Chenery, editor of Collier's Weekly; William M. Leiserson of the National Labor Relations Board; Frazier Maciver, vice president of Phoenix Hosiery Co.; Sumner H. Slichter of Harvard University; Robert J. Watt, international representative of the American Federation of Labor, and Edwin E. White, chairman of the department of economics of the University of Wisconsin.
CONCRETE BLEND TESTED LANSING, Mich. (U, P.)—Concrete blended with soap and resin is being tested by the Michigan State Highway Department as a possible means of preventing pavement scaling caused by the application of
No. 30
Your Federal
need not be included in the Among such items are the proceeds by
' ceived as annuities) under a life
received as an annuity under an
of the amount received over 3 per
paid for the annuity,
~ o
of Columbia, any territory, state, by the United States Government
jury or sickness, and damages rece or sickness.
received from the United States by
on a separation agreement,
shall be included in gross income; except that each year the excess |
or consideration paid for the annuity is tax-free until the a of such sum¢ excluded from gross income for the taxable year 1940 and prior years equals the aggregate premiums or consideration
There are also exempt from tax amounts received by gift, bequest, devise, or inheritance; interest on obligations of the District
political subdivision of the state; interest on certain bonds issued
eral farm-loan bonds; amounts received through accident or health insurance or under workmen’s compensation acts for personal in-
Pensions and compensation received by veterans from the United States for services in time of war are exempt; and pensions
ices rendered by the veteran in time of war are exempt. B There is also exempt from the Federal income tax the rental | value of a dwelling house and appurtenances thereof furnished to Yb a minister of the gospel as part of his compensation. Other items |} excluded from gross income are alimony and an allowance based 3
Income Ta
’
Death Payment From Insurance and Other
Income Items Are Exempt. Certain items are specifically exempt from the income fax 8
s return of gross from life insurance policies p
NCO!
reason of the death of the insured. Amounts received (oti than amounts paid by reason of the death of the insured and interest payments on such amounts and other than amounts res |
insurance or endowment
tract, which are less than or exactly equal to the premiums or ¢ sideration paid therefor, are exempt from Federal income tax, excess received over the consideration paid is taxable,
annuity or endowment contract
cent of the aggregate premiums
county, municipality, or other
or its possessions, and on Fed-
ived on account of such
the family of a veteran for serv-
BENDIX APPLIANGES HAS $526,612 NET
SOUTH BEND, Ind., March 3 (U. P.).—Bendix home laundry sales, including service parts, for 1940 were more than double 1939, the 1940 annual report of Bendix Home Appliances, Inc., disclosed today. Bendix Home Appliances, Inc. showed 1940 net profit of $526,612 against net loss of $311,935 in 1939. Net sales amounted to $5,319,152 compared with $2538345 in 1939. The report revealed that although unit sales of Bendix home laundries in 1940 represented but 5 per cent of the industry’s total, the increase in sales of the company for 1940 accounted for more than 35 per cent of the total increase for the entire industry. The report disclosed that during the year Bendix Home Appliances licensed Westinghouse to manufacture on a non-exclusive continuing royalty basis, under Bendix-con-trolled paténts, Bendix home appliances receiving for such rights a cash payment of $125,000.
U. S. SUIT AGAINST “GLASS FIRMS OPENS
TOLEDO, March 3 (U.P.).—The Government’s anti-trust suit against 11 glass container manufacturing concerns went to trial in Federal Court today upon failure of opposing counsel to agree on a plan for an out of court settlement. Assistant Attorney General Samuel S. Isseks, chief Government counsel, called President F. Goodwin Smith of the Hartford Empire Co., Hartford, Conn., one of the 11 defendants, as the first witness. The Government charges that Hartford Empire controls most of the patents in the industry and that it with other defendant companies combined to restrict certain types
chemicals to remove ‘ice.
of glass production.
Magnesium Corp. Buys Factories
NEW YORK, March 3 (U. P).—
American Magnesium Corp. today announced the purchase of four factory buildings and a tract of land from the Crane Co. at Bridgeport, Conn. as part of a general expansion drive to demand for fabricated magnesium resulting from the defense emer-
to meet increasing
gency. The company, a wholly owned
subsidiary of Aluminum - Co.™ef America, predicted that the Bridgeport additions would be in operation in a “short time,” enabling
further, increase in its output
magnesium castings, hie already
has been stepped up to 20 times the normal peacetime level.
WHOLESALE FOOD INDEX UNCHANGED
NEW YORK, March 3 (U. P) — Wholesale food prices in the week ended Feb. 25 contintied to hold at the highest general level since late December, 1837, Dun & Bradstreet, Inc., reported today. The company’s index of 31 food commodities for the latest week was unchanged from the preceding week at $2.55 and compared with $2.30 in the corresponding 1940 week. The
index has been at the $255 level since the week ended Feb. 11.
Increases for the latest week were
shown by flour, wheat, corn, oats, barley, lard, sugar, cottonseed oil, cocoa, eggs and sheep while rye, mess pork, beans, peas, steers, and lambs declined.
hogs,
SEES EARLY SPRING y LONG BRANCH, N. J, (U, P,) ~~ Capt. Frank Weber, a predicted an early spring after roe shad appeared off the Jersey coast.
LAND—Its Place in History
and economic. They
participate in it!
own.
but they needed land!
America’s first hundred years saw it a refuge for the victims of persecution, both religious
came to America for
Freedom, and they chose America because there was land. You had to own land before you could be free. They built the Democracy that made all men free, knowing that land gave them power to do so. of land is now a strength in our Democracy;
The ownership
Land Is Wealth
Once you had to be a landowner to vote. Once owners. ship of land was a requisite for the rights of citizenship. Now all of us take part in our government, but the yearning for the land has not left our people— learn the security of owning land . . . a home of your
For Liberty and Freedom, yes—