Indianapolis Times, Indianapolis, Marion County, 12 March 1941 — Page 17
- | which can make 3%
WEDNESDAY, MARCH 12, 1941
ei Lk Ar i 1 bl th St A Rr PR rE
\ BUSINESS
Defense Program Having Direct Effect on U. S. Living Costs
By ROGER BUDROW
HIGHER FOOD PRICES, PARTICULARLY MEAT, are chiefly responsible for the increase in the nation’s cost of living, according to Business Week. The Defense Com‘mission does not expect the situation to get out of hand, be-
lieves it has enough power to
Miss Harriet Elliott, head of the Commission’s Consumer Division, attributes higher meat prices more to a cyclical swing in production than to increased demand.
Hog prices about a year ago were at five-year lows and farmers decided to raise fewer hogs. There are more cattle, but farmers have een holding aeifers for breeding purposes, anticipating still higher prices. Already there is talk that pas‘sage of the Lend-Lease Bill will stimulate British buying of meat in this country. Business Week believes that BritRoger Budrow ,;, needs cargo space for airplane and munitions too much to be importing much meat for some time to come. The next big item in the budget of lower-income families is rent and rents have shown a tendency «to rise everywhere, particularly in areas where an influx of defense workers has caused shortages in low-rent housing. A bill now pending be_Iore Congress proposes {o spend $300,000,000 for defense housing. Indianapolis, South Bend, Ft. Wayne and Anderson are mentioned as possible sites for the big projects. ” un ”
IN THE WESTINGHOUSE annual report: “During the year, research engineers overcame one of the obstacles to safe over-water flight at night by developing efficient lighted markers for seadromes. A new floating contact light, developed jointly by Westinghouse and Firestone enables civil and military authorities to. convert almost any bay, lake or waterway quickly into a night-use seadrome. “This apparatus consists of a doughnut-shaped ' rubber float or buoy which supports a highly efficient fluorescent lamp supplied by a submerged battery. The buoys, each a complete unit, are planted several hundred feet apart in rows to mark the safe landing lanes. The lights may be turned on end off from the shore by radio.” in 8 8
THE GERMANS took over Pittsburgh Plate Glass Co.s plant at Courcelles, Belgium, during the May invasion. This winter the factory tried to get going again but “fragmentary reports indicate that after three weeks’ operation, manufacturing again was abandoned because of the requisitioning of a large part of the factory by the invader.” The branch, carried on the firms books at $1,021,622, is now shown on the balance sheet at $1.
" # 2
{March
Good—
hold prices down.
HEAVIER HOGS RISE 5 CENTS
But Those Weighing Under 230 Pounds Remain Unchanged.
HOG PRICE RANGE Top Feb. 28 ...cevveceeevscees.$8.05 March 1 (coecceccccsocine.. 8.05 March 8 ...cce0cce0tseees. 8.15 Mareh 4 ...cesnevnesciseiis 8.98 March 8 ..coovvesceneseases 8.00 March 6 7.90 March 7 March March
Receipts 5,563 1,500 9.501 7.90% 8.014 5.46) 301 1.000 10,575 7.017 7,563
sees tevevsececsoet esa sess test evssssnncs
8 ciicinnne
Il siiececensnnnsanns
March 12 ...
Heavier hogs sold five cents higher at Indianapolis stockyards today but weights under 230 pounds did not change from yesterday, the Agricultural Marketing Service reported. The top was $8.15 for good and choice 220 to 230-pounders. Vealers were strong to 50 cents higher with a $12 top. The marketing service reported 884 salable cattle were received, 414 calves, 7563 hogs and 588 sheep.
HOGS Barrows and Gilis Good and Choice— 140 pounds ..... .$ 160 pounds .. Ceduna 180 oe
sere
Sscen ee
SHANFNNISS
200 2 240 270 300 330 340
2Y =1~1-1}000 =) <3 ule) 9 whdvooLIRD
edium— 160- 200 pounds. ....cc.c0000n
Packing Sows Good and Choice— 270-300 pounds 300- 330 pounds 330- 360 pounds Good— 360- 400 pounds .. 400- 450 pounds .... 0 S00 pounds
edium— Mo 500 pounds Slaughter Pigs Medium and Good— 90= 120 pounds -............... 5.50@ CATTLE
Slaughter Cattle & Vealers (Receipts, 884) Steers
oo
Choice— 750~ 900 pounds 900-1000 pounds 100-1300 pounds . 300-1500 pounds
$12.25@ 10.25@ 10.25 @
13.75 12.00 12. 10.25@]12.
00 00
‘ERSATZ ERA (OPENS IN FALL
Plastics Expected to Take Place of Aluminum,
Tin in U. S.
By JOHN W. LOVE Times Special Writer
CLEVELAND, O., March 12.—Late 1941 is now shaping up as the opening of the American ersatz era, our first real national experience in substitutions. Main outlines are becom-
ing visible, but the new merchandise: will not be crowding the old from counters and shelves much before next fall. From this central city in a varied manufacturing region it is possible to see many of the initial patterns the shortages and redesigns are going to assume. "= wares seem likely to be no mor drab than those of toglay, but color will take the place of bright metal. + The number of models is already declining to half in many domestic appliances. Materials used less frequently on and around the house will return to popularity. Styles in clothing are being figured with economy of wool and a possible disappearance of silk in mind. Automobiles (with one last fling early next summer) will drift toward standardization and the exchangeability of parts even between cars of different makes.
‘Pre-War’ Autos
The Office of Production Manage- A
presidents;
THE INDIANAPOLIS TIMES Texaco Dealers Meet
PAGE 17
’ More than 400 Texaco dealers from the Indianapolis district held a spring sales conference at the Columbia Club yesterday. Among the officials attending were (seated, left to right) G. B. Bogart; H. W. Dodge and Walter Hochuli, Indian Refining Co vice (standing) J. K. Skilling, 8S. C. Bartlett, Dixon Guy, P. C. Humphrey and Paul Monroe,
High Low Roe Air Reduc .... 3% 38% 38Y 29 29
33% 67a
ment, statement that “in the immediate future everything in our national life must be subordinated | to the necessity for defense” set the industrial designers to working] faster than they had ever worked!'B before. The same swiftness of change
IA
all the mechanical arts of peace.
with the automobile as the example: Shiny metal giving place to synthetics—that every machine or appliance now in use is probably to be definitely dated within a year or two as “pre-war,” or whatever the emer-
, Streamliners to Wait
The most conspicuous object to {prove completely irreplaceakle for |some time may be the new streamlined passenger trains. Their cars have been of aluminum or its lusty rival, stainless steel, and neither is likely to be available for such luxurious uses in that quantity, the stainless to be restricted on account of its high tonnage of nickel. Railroads might return to ordinary steel, it is true, but: the problem of redesign would be expensive and might not be worth the trouble, considering how long the new trains would have to be used. The railroads’ consolation would
the growth of airplane travel. Manufacturer of heavy-gauge aluminum in cooking utensils has already stopped in several plants.
750- 900 pounds 900-1100 pounds 1190-1300 pounds 1300-1500 pounds Medium
150-1100 POUNdS sesicecacnnee
esesesecensse [email protected]] teessaniinana 10.000 12.00 cesesensnses Nal 10.00 12:00
ODDS AND ENDS: The Childs|g
restaurant chain is asking landlords for lower rents “to avoid the bankruptcy courts.” Life Insurance says ‘94 million dollars was paid to Indiana families last year in settlement of death claims. . . . Australia’s current wheat crop (84 million bushel harvest) will probably be the smallest in 22 years. *, .. Ford has finised a $500,000 glass laminating division at River Rouge acres of safety glass a day, utilizing a plastic sheet ‘called vinyl resin for filler in the|g - “glass sandwich.” . . . A management engineering firm (Stevenson, "Jordan & Harrison) has asked and received permission to study pos- . sibility of merging the New York Stock Exchange and New York Curb Exchange. Reason: Securities busi- . ness is so slack.
| lieve it appears necessary—yet—to ‘ restrict auto production because of defense jobs. . . . Japan has bought about one million bushels of wheat on the Pacific Coast in the last two * weeks, grain traders report. Stock trading on the Paris Bourse will be resumed Monday, first time since exacuation of the capital last spring. Stocks of firms whose officers fled abroad or now reside abroad will not be traded.
. ee
Incorporations
Hoosier Foundry, Ine., 1022 E. Michigan 8t., Indianapolis; agent, Ed Workman, same address; 10005 ares no nar value; manufacture and sell foundry products; Ed Yyorkman, Louis Workman, Francis L. Ber Pood Brokers, Inc., 1188 [Kentucky Ave., Indianapolis; agent, Ralph A. Shinkle, same address; shares “without par commission merchants; Ralph Siener, Richard Poa on. ... Comora Louis,
St. Mo... registration of trademark, “Zeston{lla —Class 45: foods and ingredients of
ods: i William H. Banks. Inc., Illinois corporaSion: amendment of articles of incorpora-
Myers & Elliott. Inc. lution by decree of cou The Republica Machinery Co., Ohio corporation, amendment of articles of incorporation.
value; shinkle, Francis J.
‘ Manufacturing Co.,
Kokomo, disso-
ammond Corp.. Hammond, amendment of al ticles of incorporation Marbon Corp.. Delaware change of agent to Jacob S. chants Danek Bldg., Indianapolis. * Verity Products, Inc., Indainapolis; agent, son, 82 S. Ninth St. Beech Grove; shares no par value; manufacturing flavorings, aromatics. perfumes, etc.; Arthur D Thompson, Henry C cer. Charles M. Weber. Jordan Realty Co., Inc., 1235 N. Dele. ware: St. Indianaplois; agent, S. C. Bodner, 5940 Washington Blvd., Indianapolis: 1000 shares no par value; real estate business: S. OC. Bodner, Julia Bodner, R, M. Gilbert. Indiana Defense Relocation Corp, Massachusetts Ave., Indianapolis; no ca ‘tal stock, to meet social problems arisin from displacement of Jovintome farm |W 1 ]
corporation,
cosmetics, . Spen-
342
families in Indiapa; E. K. Shideler, B. W. Lodwick, William Tightioot, a
CASH IN A FLASH
LI CONOR
20 Months to P-A-Y
SACKS BROS.
OLDEST AUTO LOAN CO. IN INDIANA 306-308-310 INDIANA AVE.
LOAN
EHF The CH
. Institute of | Sho!
. President Paul e Hoffman of Studebaker doesn’t be-|cul
White, Mer- |]
.
46 E. A
1100-1300 pounds ..... ommon-— 750- 1100 pounds
Steers, Heifers
escese.e
[email protected] [email protected]
500- 50 pounds Good~— 500+ 750 pounds
Heifers Choice 250 900 pounds ..ececeecsss 11.00012.00
00d ~— 750 900 pPOUNAS .eessseesses [email protected]
Medium 500- 960 pounds . 8.25@ 9.7% 17.00@ 8.25
Commo 500- 900 pounds ......ceco000 1.50 3.301 IE a 4.50@ 5
Cows
Good Medium
(Yearlings excluded) Beef--
Good .... $9000 c0cettsettost ese
“Goad
Feeder and Stocker Cattle Steers (Receipts, 414) Choice
00- 300 pounds ......eces0... 10.00 800-1050 POUNAS ..cecessseces 10.00
11.00 11.00
9.00910.00 [email protected]
8.359 9.00 150@ 8.25
500- unds 800- 1090 pounds Medium
500-1000 pounds Common 500- 900 pounds Calves (steers) Goo. and choice— 500 pounds down Medium-— 500 pounds down Calves (heifers) Good and choice— Re 500 pounds dowm ............ 9.200010.75
500 sounds down 9.508 9.25 SHEEP, lames Receipts, 588)
sseestsrsecen ssssocnncosee
10.00911.75 [email protected]
veees [email protected] 50@ 9.50 Yearling Wethers Good and choice . 00@ 9.5 Medium 8.00 2:00 6,00
3.50@ 5.00
CHICAGO LIVESTOCK
Hogs— Receipts, 9000; opened 10 to 15 cents higher; closed less active than early, Ana. chotce “180-240 Ine>" Tisan choic - 7 240- -270-1b. butchers, $6.75@ . $0038 Ba ing ‘sows 200.5001,
good and choice handy fed Westerns, $10.90 ew, $11.10; Welghtier and less deOd finished kind down to $10. 75; fat {Peep steady; one double, 108-ib. te estern ewes. $6.85; today’s trade; ing very slow; bidding upward to ‘$11 on Jood to” choice handy ah medium weight: ed wooled lambs el t $11.25 an above; more liberal supply of weightier lambs on sale. 6500. 500;
qa ttle—Receipts, lightweight steers, steers. with weight “suita 8 account moderately etive: strong to 25 sens higher, but rank a file medium aif st steers with weight, slow, steady; & | most Seer Fran, but JeceiDks curtailed 3
srictly éholge 1 1100 "we g Hy pri jos0-10, yearlings, n cents h
Calves,
ar e 5 % ses
FOOD PRICES
CHICAGO, March U, P.).—Apvle Michigan, Jonathans, bu. 61 ‘io, "Celery —Michigan, Squares, ald atoes —Mexican, lugs, A an patna ah ower — Ca, ifornia, 2 30. Carrots — Californ
Lettuce Bweet 08 Aviram: Onion
e Yellows, ie: 8% c
F and § Pact oi |
$8.35; vealers firm;
'.
€ 5 : HA Yen Calorado Bweet Spaniin. $1.08. ta
on Everything!
Diamonds, Watches, Autos, Cameras, Clething, Shetguns, Ete. |
JEWELRY CO, Ine.
7.15@ 8.75 e ago
.| east iron is reported slow in delivery
Sled—or adapt its methods to the new
| { good w
| Wadley C
A leading maker of cooking dishes in glass is about to start its greatest advertising campaign. Jew life comes into the porcelain enamel market, with colors and qualities which were not to be had when the|Lo ‘aluminum competition started years
Beer Can May Yield
Aluminum foil is preparing to retreat in favor of paper for bottlecaps. Makers of collapsible tubes expect to use a lead sheet coated on both sides with a film of tin. The beer can may have to yield its. gains back to bottles, depend-
|An
/Blaw- Knox which overtook the art of war with- | Boeing Air
in the last year is now at work on |B
Grant pf Gt North pf..
Holly Sug ....
Ind
be found in similar limitations to 1
nda oe one Dry Gds. Asso Inv pf.. | Atchison :
Balt & Oho... Barpsgal)
oe 35%2 «30 ees 8% ren 157s eee OV
lyn-M T 6%
So numerous are changed appli-|Safereiner T
ances likely to be in many details— oi
y In Climax Moly Co
Colum Gas .
Comwlth&So ‘pt
Cons Coppernms
gency is still called in 1942 or 1943.|SotY
Curtiss Wr A
D Lac&W . Dist Seag
18335 133% 14% 14%, 2 32
5 Ge 4 335 36 © 8% 43% 62 62 "13-16 13-16 23 23
Bast Kodak . c Boat
Eng Pub 8
Gen Electric ... Gen Foods ..... Gen Motors . Goodrich _pf . Graham- Paige
Gt West Sug.. Sr . 14 wf Rayon .... 237% Int Harvester . 48% Int Nickel 25% ntertype «..... 8% —J—
. 12% —K— . 32%
14
23% 481% 25% 8%
Jarvis Co ....
Kennecott .... 327%
35% 5% 89 32% 18% 17% 18 — 14% 14% 26% 25 104
arshall Fld .. artin (Glenn). 26% asonite Corp.. 25 cCrory 5 pf ..104 cKeesport . 75% cKes & Rob. 3% Minn Hny ... . 42% inn Moline .. 3%
Mo-K Tex 2 ullins Mig ‘B 3% —Ne— «11%
M M
M
at Biscuit .. 17% Va
ing on what happens in the Macific yy
to affect sources of tin and cn how 0 much canned goods the British need. o Motor oil, now so largely dispensed in cans, may go back to bulk distribution. Coffee percolators and other table devices may turn from nickel finishes to plastics—if there are enough plastics. The concerns moulding the synthetics are now scrambling for second-hand presses and old metal-working machinery which they can retool.
Shortage Foreseen
Shortage and substitutions are looked for in the building industry. Brass pipe is likely to give up some of its winnings of the last generation in favor of iron pipe again. Kitchen sinks in bright nickel alloy
and stainless steel may soon be off |b
the market for the time being. Even for radiators. Hardware stocks are likely to be reduced somewhat. Various tools which use alloys may even have to
return to heavier and older-fashion o designs. I
An article of occasional usefulness o | 2round the house, the revolver, seems to have almost disappeared in some markets. In cities close to armament and ‘munitions projects
the new forces of guards have about |N
cleaned out the civilian supplies of side arms. Some stores quote weeks of wait to customers who want the .38 revolver. Equally scarce is the automatic pistol. How long it will take ; |for the volume of crime to be affect-
situation—is not clear.
OTHER LIVESTOCK
CINCINNATI, March 12 (U. P.).--Hogs— Salable, 2400; total, 3075; holdovers, Rs: active on light: sup ppiy. steady to 5c higher! top, $8.10 for good and choice 200- 40-10: barrows and gilts; . 300-350 $7.15@ 25: 180-200 lbs., $8; -180 1bs., $7.85; medium and good 140-160 1bs., $6. 001. 25; most good grades packing sows $6@6. Cattle—Salable, 300; total, 350; oh, 250; active and mostly ye medium to-good s ag averages at oo a ord 1094 ins. $9. medium to good heifers, 680-835 lbs., 10.50; cutter and common cows, $5.75 4 weight canners, [email protected]; , [email protected]; yeslers, active, i to choice, $11@12. pt 0; os ttle on Mi early: cull » mbs, $6.50@10, accordin grade yo Weight: good and choice sala =» $10. [email protected]; sheep, steddy; occasional common ewes, $2 down.
LOCAL PRODUCE
Heavy breed colored hens, 1l4c: No. 2 colored hens, llc; Leghorn hens, 10c; No. 2 Leghorn hens, 7c: broilers, 3 lbs. and over 19¢: White and Barred Rocks, 19¢; colored S,
3 lange, 15¢;
1bs.,
rade A . Grade A small and No. 2, fis:
. 33@9 C; No. 3 3 ste puttontat Noo Qa 2, 510. @ (Country pickup re ‘quoted by the
ALSE TEETH
DENTUR. EZE, the new cushion plastic, makes Loose plates fit Om iortably y Jor vs b te. E nun De. not a paste. Eco: today! At your drug counter. ye
ML ETE
Belt RR & Stk Yds
Norwalk
Suis ot Out
27% 119% 3 a” 116% 26 103% 75% 85%
G pt. 3
Ser Pub Sere 5 wf. 103% Pure Oil 75% Pure O 5 pf .. . 85%
4% 192 10% 100% 88
4Ys 19Y2 Ra 10% Repub Stl pf .. 100%, Ren Mt cu cv pf 88% 88
—
Net Last Change
a s Ya Ya
N. Y. STOCKS
By UNITED PRESS
DOW-JONES STOCK AVERAGES
30_ INDUSTRIALS Yesterday . Week Ago Month Ago Year Ago High, 1941, 133.59; Low, 117.66. High, 1940, 152.80; Low, 111.84. 20 RAILROADS
"9% Yesterday
Ya % Vy Ys
a Palen Dalh .
MRE) If
Ve
%
1: Young Sheet 2:
Week Ago Month Ago .. Year Ago High, 1941, 29.73; Low, 26.54. High, 1940, 32.67; Low, 22.14. 15 UTILITIES Yesterday Week Ago Month Ago . Year Ago 24.15 0.06 High, 1941, 20.65; Low, 18.81. High, 1940, 26.45; Low, 18.08.
19.58 40.01 19.22 0.06 . Holiday
Net Last Change 32 Va 8%
High Low 32 8%
Reyn Tob B ... 32 —— Richfield Oil ... 8%
+ |Seab'd Air L .
Seab’'d Oil Socony-Vacuum. 30 Am Gold....
: £ Std S nd Swift & Co ..{.'22%
Texas Corp .. I Thermoid
Trans & W Air. 20th Cent-Fox.
.. Bu
412 . 31bs 125%
6V
35% 4% 31%, 12% 6a
. 66 66
Un P 81Y, Un Alr J. 00 {United Cp pf .. {U 8 Rubber ... |U 8 Steel
Vanadium . 28% Van Raalte pt’ ‘114% irginian Ry pf 32;
28%, 114%; 32Y;
West Union ... ? | Westing Bl... Wilson & Co . Wilson pf 71 71 Woolworth «302 30% Ye 14% 35%
| Yellow: Tr 142
35%
998,000 EMPLOYED BY STEEL INDUSTRY
NEW YORK, March 12 (U.P.).— The domestic steel industry had a record payroll of $96,234,000 in Jan-
+
Ya
‘ uary, the American Iron & Steel
Institute reported today. That com-
2 {pared with $81,233,000 in December
and $82,287,000 a year ago. The previous peak for steel com-
pany payrolls was reached in April, 1937, when employees received $94,-
“3 322,000.
LOCAL ISSUES
The following RR Quotations apolis Bond & sent actual price of offer indieate the approximate tha rket ased on buying
recent “transicifons.
8toc nance Co. ne.
Agents As ance Co. Inc.
ofa. 20 Agents elt RR & Stk Yds ion TS a Central Ind Pow Tut Tih pid. . 181%
. 4 . 20% ‘ese T112% 2
CO. . Van Camp Milk pfd ces Van Camp Milk com ...ce0..0 11 . Conds 58 51 ...000.... 99 53 46 ........100
Co 3128 70 S70 ......... hd vIn 5s «es 60
Bid Ta
by the Indiando not repreut mer rely
level
and selling quotations of
107% 109 Y 109
+ (sharply,
January employment also rose totaling 598,000, against 585,000 in December and 556,000 in
% [January of 1940. The peak employ-
ment was 603,000, reached in August and September of 1937. Average hourly wages were 86.6 cents in January, compared with 86.5 cents in December and 83.5 cents a year earlier, the Institute said. The average work week "was 39.2 hours, against 37.6 in December and 37.1 in January a year ago.
ELECTRICITY OUTPUT
NEW YORK, March 12 (U.P. .— Electricity production in the week
ended March 1 increased 14 per cent above the level of the corresponding 1940 week, the Edison Electric In-
stitute reported today. Output for the latest week amounted to 2,825,510,000 kilowatt hours, compared with 2,479,036,000 a year earlier. In the preceding week, which included the Washington's birthday holiday, production totaled 2,820,161,000 kwh, a gain of 14.9 per cent over the like 1940 week, the greatest year-to-year improvement since Nov. 4, 1939,
TU. S. STATEMENT
WASHINGTON," March 12 (U. P.).—Government expenses and receipts for the current fiscal year through pared with a year a, oi Last Year
is Expenses ..$7,818,613, 014, 98 $6,388,758,263.62 Receipts .. 4,071.050,002. 3.668,793, 934. 3 Gross Def. . 3 1 2% 012.14 2,718,965,209 Net . 353. Gash) Ball .
Gold Res... Customs .. nN 005.455. 459.98
INDIANAPOLIS CLEA CLEARING HOUSE
Cleari ceseerrianasnse cesens «.$ 4 Bemis” "10113,000
ces denne tasecscns
Indiana Associated Telephone Corporation
$5 Cumulative Preferred Stock (No Par Value)
Price $105.50 a Share
Plus accrued dividends from February 1, 1941
The Prospectus may be obtained from the undersigned.
. Indanapolis Bond and Share Earp.
STOCK TRADING IS CURTAILED
Few Issues Display Any Strength in Mixed Movement.
NEW YORK, March 12 (U.P.).— The stock market moved irregularly today in curtailed trading. A few issues displayed strength, including Allied Chemical, American Can, American Telephone and
RISES 14 PER CENT)
arch 10, com-
1] es, 2s; 933.37
New York Shipbuilding, up about a point each. A few were weak, notably | Westinghouse Electric which lost {more than 2 points. | Elsewhere, changes were small. , Bethlehem Steel was .at the previous close of 80, while U. S. Steel
was up % at 58%. Chrysler was at |" % and General Motors |
68%, up 143%, up %. Anaconda Copper and Kennecott registered minor losses. American Smelting had a small gain. Douglas Aircraft firmed. Utilities, rails and oils were steady. Iron Age said enactment of the Lend-Lease bill is expected to speed up defense production and increase pressure from industry and Congress for a strong Administration stand against strikes. A new strike was threatened at the Bethlehem Steel Co. Lackawanna plant. Electricity output last week made a new high for the period. Estimates showed car loadings making a more than seasonal decline.
FABRICATED STEEL BOOKINGS INCREASE
NEW YORK, March 12 (U.P. .— January bookings of fabricated structural steel exceeded the monthly average of the last 10 years by 130 per cent, the American Institute of Steel Construction said today. The industry last month received orders for 258,499 tons, against 81,689 in the corresponding month of 1940, while the tonnage fabricated and shipped amounted to 150375 tons against 110,919 in the year ago month. Of the business now on the books only 601,528 tons are for fabrication and delivery within the next four months, the Institute said.
BUSINESS AT A GLANCE
By UNITED PRESS Oil & Gas Journal estimates week
® ended March 8 domestic crude oil
production averaged 3,635,840 barrels
a daily, up 12/405 from previous week.
Hygrade Sylvania Corp. 1940 net profit $880,625 equal to $3.59 a common share vs. $856,807 or $3.52 in 1939.
FOREIGN EXCHANGE
NEW YORK, March 12 (U. P.).—Following are noon cable rates on major currencies: Gable
England {bound Canada (dolla xFrance Trane) Finland (markka) Switzerland (franc) Sweden (krona) Japan fem} Mexico tone license.
WAGON WHEAT Indianapolis grain elevators are naying for No. wheat, 85¢c; subject to market change: other grades on their merits. Cash corn; new No. 4 white shelled corn, S3c. new No. 4 velow shelled corn. 54c: No. 3 white oats
(the early dealings today. grains were mixed.
«DAILY PRICE INDEX
‘compiled for United Press:
Aid to N. A. M.
William A. Atkins, vice president of E. C. Atkins & Co., and a member of the board of directors of the National Association of Manufacturers, has been appointed a member of the N. A. M.'s executive committee, development and national industrial information committees.
WHEAT PRICES DIP, OTHER GRAINS MIXED
CHICAGO, March 12 (U. P).— Wheat futures on the Board of Trade trended fractionally lower in Other
At the end of the first hour, wheat was off 13 to Yc, May 86%c. Corn was off % to up Yc; oats unchanged to up ec; rye off 5 to %c and soy beans up 4 to l%ec. A combiration, of cautious buying and scattered commission house selling gave wheat an easy tone at the start. Moderate resting demand, mill buying and short covering lifted prices above the previous close later. On the bulge offerings increased and all of the of the gain was erased.
MERCK & CO. PLANS
ELKTON FACTORY
RAHWAY, N.Y. March 12 (U.P). —Merck & Co. Inc, today announced plans for the construction of ‘a new manufacturing plant about three miles south of Elkton. The new plant, which will supplement the company’s manufacturing facilities of its chemical plants here and at Philadelphia, will include a power plant, a service building, a warehouse, machine shop and two manufacturing units. It will cover a 312-acre tract and is expected to provide work for 3800 employees when completed.
NEW YORK, March 12 (U. P.). —Dun & Bradstreet's daily weighted price index of 30 basic commodities, (1930-32 average equals 100) Yesterday .....c0.enviivese 12610 Week ABO veevvsecrineessi. 124.20 Month Ago ... ... Holiday Year Ago 118.57 1940 High (March 10) 126.35. 1941 Low (Feb. 17) 123.03.
seve ee es
'$190,100,000 of
6. M. EXPANDING DEFENSE WORK
Allison Engines Being Built For British, U. S.
NEW YORK, March 12 (U. P.).— General Motors Corp. already has received $683,400,000 in national defense orders and is “steadily expanding” its activities in this field, Chairman Alfred P. Sloan Jr. said today. In a special “progress report” to stockholders on the role that on eral Motors is playing in the national defense program, Mr. Sloan said that only a relatively small amount of war equipment was de= livered to the British, Canadian and United States Governments in 1940, but stated that defense materials are now beginning to roll off the production lines in quantity. ° Mr. Sloan summarized principal General Motors defense activities, excluding obligations of affiliated companies, and their status as of about the end of January, as follows: : 1. Airplane engines—about $190,100,000 of Allison liquid-cooled engines for British and U. S. Army Air Corps, being produced at the rate of around 350 a month. Addi= tions to the Allison plant now be= ing “pushed aggressively” toward a goal of 1000 motors a month. Orders also have been received for $01,200,000 of air-cooled engines, and con= struction of an engine plant has been started near Chicago, aiming at a monthly output of 500 Pres’ ° & Whitney motors. Start of ~ duction there will depend ciChed: a livery of essential special g]d terrie tools. Make Shells at Ande Hamburg 2. Aircraft Bomber Fice during Sub-assemblies—Orders re $62,400,000, or one year's production. © Fisher Bod: sh raid of will handle program to F and sub-assemblies for twin-engine North avowerful new
American will be abl assemblies on these fets. A mer. 3. Airplane Sauipment mites tion beginning at Rochester Prod=ucts division on $7,000,000 in orders for a variety of airplane control instruments. 4. Diesel Engines—Orders amount to $89,400,000; delivery going ahead at existing plants and a new addition just completed at Cleveland. 5. Machine Guns—Frigidaire, A @ Spark Plug, Saginaw Steering Gear and Guide Lamp divisions installing machinery for $61,400,000 of orders, and deliveries expected to start in the latter half of the year. Some plants already at work making gun parts. 6. Shells, Cartridge Cases and Fuses—Orders total $16,600,000; production to start in May at Olds Motor division, Lansing, Mich:, and Guide Lamp and Delco Products divisions at Anderson, Ind. “well along” in their preparations for vol=ume production, ih 7. Trucks—Chevrolet division received orders for $62,800,000 of special military types, in addition to standard vehicles, and deliveries
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“continuing at a rapid rate.”
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