Indianapolis Times, Indianapolis, Marion County, 29 March 1941 — Page 9

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SATURDAY, MARCH 29, 1941

BUSINESS

Government to Become Biggest Exporter of U. S. Farmstuffs

Se By ROGER BUDROW THUS FAR IN THE DEFENSE PROGRAM THE

FARMERS have had no real industry for armaments

break. Billions have gone to

but the only stimulant to agricul-

ture is that resulting from increased payrolls in industry. When the Lend-l.ease Bill was passed, many thought it was the signal for a farm boom because big shipments of food to England, China, Greece, possibly Spain and unoccu-

pied France are authorized in

the bill. There was a flurry

in food markets but then it subsided.

In Washington, it was announced that the Surplus Marketing Administration is going to handle all the buying of farm foods and the first 500 million dollars of purchases will be spread over the 15 months tween now and July 1942. This would prevent any immediate bulge in prices. The control of a Federal agency over this part trade is regarded in some quarters as giving the Government a virtual | monopoly over all U. S. foreign trade. First the Government li- | censed exports, then set up shipping | priorities. Defense buying of such | important commodities as wool and | hides in Argentina and copper and | nitrate in Chile gave the Government an even stronger voice. The Lend-Lease arrangement extends | this Government control over agri- | culture exports.

Roger Budrow

” BRITISH TEXTILE manufacturers are putting up a battle] to hang onto their reputation | for producing some of the fin- | est clothing in the

world. Especially irritated are they at any

suggestion that the country adopt |

“standard clothing” for men and] women for the duration of the war. | The British textile men have their eyes especially on the U. market, which they say now uses only one per cent of British wool- |< ens for domestic consumption. The | manufacturers assert that rather] than let the war ruin their business, they instead are going to ex-| pand, establishing a women's fashion committee “designed to put | London's fashions for women on} the map.” » » » THE BRITISH plan to sell industrial corporations they own in this country (like last week's American Viscose Corp. sale) or pledge them | as security under the Lend-Lease] Bill, according to Sir Edward Peacock, the British Treasury's sales-| man in this country. But, he indi- | cated. they want to hold on to the| American branches of long-estab-lished British fire and casualty in-| surance companies. There are 44 of these in New York alone.

ODDS AND ENDS: Bigelow-San- | ford Carpet Co. has increased price | of carpets 5 per cent. . Westing- | house engineers have developed a device—two motors and a generator | to form adjustable drive—which will inodernize out-| moded machine tools needed in de- | fense work. . One of Ford's boats left the Rouge docks Tuesday, earli- | est navigation date in their history. . Army buving of shoes isn't responsible for the 12 to 2-cent Spur in hide prices since the middle of February, says Leon Henderson, De- | fence Commission price SE who blames speculation. cago Stock Exchange Rr sold for $1200, $300 under the last] sale in December. . Engineering | News-Record reports ‘the airplane! parts and aluminum foundry of | Delco-Remy at Anderson is an $840,000 contract An inner tube | has been developed which will not! go flat even though nails are driven | in it or bullets fired through it But it's for the Army, not the pub- |

lic.

EXPEL 2 BROKERS |: FOR ‘KICKBACKS’

NEW YORK, March 29 (U. P).— The New York Curb Exchange announced today that Charles R. Powers and Edward F. McCormack have heen expelled from regular membership in the exchange for | paying “kickbacks” on commissions. | Neither broker is connected with!

any firm. Powers member of the Curb Exchange since April 28, 1926, and McCormack

since May 27, 1931.

LOCAL ISSUES

The following quotations by the Indianspolis Bond & Share Corp. do not represent actual price of offerings. but merely indicate the approximate market level based on buying and selling quotations of transactions. recent St.cks y ay i ents Finance Co. Inc, com. T% et Finaace Co., Inc.. pfd.. 20 *RBelt RR & Stk Yds Som Seve 5 *RBelt RR & Stk Yds p woe Central Ind Pow 4.7 *Comwith Loan 5% *Hook Drug Inc com Home T&T Ft Wayne 7 Ind Asso Tei Co $5 pf 7% pid... d 1

| | |

% vid. d

Indpls Gas_co Ind Hydro Elec a, ofd’ Indpls P&L ¢ *Indpls P&L a ‘pid... Jd *Indpls Water 5% fd .......102 Lincoln Nat Life Irs com oe *N Ind Pub Serv J'2 *N Ind Pub Serv *N Ind Pub Serv Progress Laundry com .. . 3 Pub Serv Co of Ind 67% pfd.. 5: Pub Serv Co of Ind 7% vfd.. So Ind G&L 4.8% pld erre Haute Elec 6% pfd...... 99 Jnion Title Co com 3 Van Camp Milk ofd Van Camp Milk com .....

Boads

American Loan 5s 51.....000e. 8 Omerican Loan 5% 46 Consol Fin 5s 50 Citizens Ind Tel Home T&T Ft Wayne 5'2s ... Crabb- Rey -Tavior 5s 42... 9 Home T&T Ft Wayne 6s 43... Ind Assoc Tel Co 3! Indpls P&L 3%s 70 vive Indpls Railway Inc 5s 67. Indpl; Wate: Co 3'%s 686. Se Kokomo Water Works 55 58... Kuhner Packing Co 4'2s 49...100 Morris 5&10 Stores 5s 50......100 Muncie Water Works 5s 65 “ Nat Silk Hosiery 5s 42 97 N ind Pub by 3s 69. N Ind Tel 4 Pub Serv of ‘ind 45 69. > 108% | Pub Tel Co 4':s 55 woo 103 Richmond Water Wks 58 57... 107% | Trac Term Corp 5s 57 x—FEx-dividend.

OTHER LIVESTOCK

(U. P.).—Hogs— | 180- 2200 Ibs. 0-240 1bs.,

WAYNE 0 rch 29 200-220 Ibs St 85, 160-180 Ibe $7.65;

a wo

“An

DD 11-7 S733

—_ 1 wich @ DC sn

-—CIAP

Bac

es 30 ul ‘sip £hs

Gs. y be. = Hid 120 rn.

be- |

of export |

| which more than offset

| $5,652,324 or

| of operating revenue,

[occupation costs have been increas-

had been alarmy has cost France 36,400,000,000

2 charges and taxes, equ a common share, $545,867 or 4 cents a share in 1939, |

: plants that the company will build

|for completion on July 20, it was

seis (U. P.).—Hercules Powder Co. Inc., today announced the election of Edward B. Morrow as treasurer and a estert | member of the executive committee.

INDIANA UTILITY NETS $733,241

Refunding, Increased Sales Aid Firm to Double 1939 Profits.

Central Indiana Power Co. and its subsidiary, Northern Indiana Power Co., today reported a profit of $733241 for $317,652 over the previous year. The increase was attributed to

| savings in interest charge because {of refunding the long-term debt and intensified sales activities

operating costs and taxes. Gross operating revenues were $6,075.954, an increase of $315,531, President L. B. Schiesz reported to stockholders. Electric utility ating operations accounted for 93 per cent of the gross revenue, compared with $5,281,150 the year before. Revenue from gas sales was $239,039, a 10 rer cent increase.

Expenses Increase The average residential customer

1940, a gain of |

heavier |

oper- Good

MEDIUM HOGS SELL CHEAPER

Heavier Weights Five Cents Higher as 3015 Arrive At Stockyards.

HOG PRICE RANGE Top .$8.25 8.15 8.25 8.25 8.25 8.25 8.00 8.00 7.95 8.15 8.00

Receipts 8,597 9,254 7.314 8,382 1,500 10,641 10,156 6,919 8,264 7.209 3,015

March March March March March March March March March March March

18 .. 19 20 21 ceriiennneneninene 2 24 5 26

» 2% wa

testes tana MY LAE LEER

Pest tEtR Ieee

“ere atete Irena “taster entannnas Seer ereaar Ren Stern aera

LEER EE)

Ceara raraannes ES

There was a two-way market in hog trading at Indianapolis stockvards today, the Agriculture Marketing Service reported.

were unchanged from yesterday's prices; weights between 160 and 230 pounds were 10 to 15 cents! lower; and hogs weighing 230 pounds or more were steady to | cents higher. The top was $8 for good and choice 200 210-pounders. The marketing service estimated 100 salable cattle were received, 100 calves, 3015 hogs and 50 sheep.

HOGS

Barrows and Gilts and Choice— 140 pounds 160 pounds 180 pounds 200 pounds 220 pounds 240 pounds 270 pounds - 300 pounds .. 330 pounds . a) pounds .. Medi 160- 200 pounds Packing Sows

Good and Choice pounds pounds .... pounds

pounds pounds pounds 250. 500 pounds . Slaughter Pigs

Medel and Good— - 120 pounds

Choice— 0: 900 pounds

at the vear's end. There were 6874 gas users in nine communities. Operating expenses, including

payrolls and taxes, were $4,796,948, | Cho! about $105,000 more than in 1939. Good

Salaries and wages totaled $1,248,886, a $74201 increase. Provision for taxes increased $149,248 to $730.432 or about 12 cents out of each dollar

Improvements Made

The company spent $1,106,881 for additions and improvements | property. Major projects included the 66,000-volt electric transmission line near Huntington in order to tie in with an additional source of | [power supply. installation of several high-voltage substations to | provide service for new power loads, rebuilding of the electric distribution system in Sheridan and modernization of commercial offices | and service buildings at Huntington | {and Sullivan. lane Another development was the change from artificial to natural | gas service in Greencastle, Mar- |

speed power tinsville and Cloverdale early last! BR ooiSy pounds

fall. Total assets of the company amounted to $27.915,165 compared | with $27,292,082 at the end of 1939.

| |

BY BANK OF FRANCE:

BICHY, March 29 (U. P.) .—Stock(holders of the Bank of France held |their annual meeting in occupied Paris yesterday, approving the ‘bank's annual statement and voting themselves a dividend of 320 francs ($7 33) a share, according to an official announcement here. The bank statement, dated Dec. 26, 1940, disclosed that the French note circulation had been inflated by more than $1,500,000,000 in the past | vear and that the German govern- | ment, through the Reichs-credit |

bank, had built up a crecit balance |p, $825. closing top bein $8.1

with the Bank of France amounting | | to almost $1,000,000 000. It was pointed ot here that the

ing steadily since the Dec. 26 statement at the rate of 400.000,000 francs a day ($9,160,000). In the | 191 days that have elapsed since the report was prepared, the German

francs ($833,560,000).

PACKARD REPORTS

Good to

| Medium —

DIVIDEND 1S VOTED

0-1000 pounds 1100: 1300 pounds 1300- 1500 pounds {Goo

750- "900 pounds 900-1100 pounds 1100-1300 pounds A300. 15004 pounds Mediu 750- 100 pounds 1100-1300 pounds

Common -— 750-1100 pounds Steers, Heifers

CEE

OO 500- 750 pounds ...coiienuunee

500- 750 pounds

[email protected] [email protected] [email protected] 7.25@ 8.50

Chotce— 750- 900 rounds 00 — 750- 900 pounds Medium — 500- Raid ) pounds Com 500- 500 pounds

see senereanee srecetetnenn

Crsrarsratnae

8.50

diu . Cutter and common ver

Canner . 4.75@ 5.50

Beef— Good Sausage— Good Sede JTL.30@ 8.00 Medium

A LY 7.00@ 7.50 Cutter and common ... 6.25@ 7.00 Vealers

sees eeraen

Good and choice ' 12. wa 30 Common and choice ..... "ey 50@ ull 8 00 3 30

Feeder and Stocker Cattle Steers (Receipts, 458)

oa 300~ $00 pounds ......ese0.00 Roa 3 1050 DOUNAS .esssssesnses 10.00

500. “800 pounds 9.00 0.000

8.25@ 9.00 1.50@ 8.25

“recente nane

1 1 1 1

1.00 1.00 0.00 0.C0

IER R ERLE ER REY} | M 500- Soo Pounds Cesevenrenene Com 500- & 900 DOUNAS «u.uuivnn

| Goo. and ehotce— 500 pounds down [email protected]

500 pounds down ............ [email protected] Calves (heifers) Good and chotice— wea pounds down . 7.75@ 9.25

500 pounds down . 950@ 9.25 SHEEP, LAMBS (Receipts, 108)

Good and choice ve 3 Medium and good . 3 COMMON ...ouuvvvivivs air, . Yearling Wethers

Good and choice Medium

wrann

08 99 323 ow DOO

Ott

ned

orn 2-1

oo oon

Ewes (wooled) Good and choice

Common and medium ....

on ©

wo “100 won rr ovo

CHICAGO LIVESTOCK

Hogs—309: nominally steady: not enough good and choice hogs were here to make a market, quotable top, $8.15. For the eek—Butchers closed steady to 10 cents | Fower. with sows 10 to 15 cents down: 160-180-1b. lights closed at [email protected] | against $7.50@ 7.90 on 240-270-1b. averages. packing sows, [email protected]; RoE extreme

ttle—200: calves—None. Por the week —Choice and prime yearlings and comparable medium weight and weighty shipper steers scarce steady. all other grades and representative weights 25 to 40 cents lower; full downturn hitting medium grade light steers ind medium to :trictly good 1000-1500-1b. bullocks at close: fed heifers 1 cows andi bulls 25 cents lower: choice weighty shipper vealers 50 cents higher, but medium to good light vealers cents to $1 lower: increased supply 1300- 1600-1b. steers and medium grade 850-1050-1b. offerings in crop; bulk fat steers, $9.25@ 12.25, little above $13, although choice to prime 1054-1b. vearlings topped at $14.50: medium Nesnts 4.25, and 1368-1b. averages, $14; 1052-1b. heifers, $13.25, cutter cows closed $6.25 weighty sausage bulls at $7.90 down, hoe weighty vealers bringing $12@ 12.50. Sheep-—500. For the week-—Late top fed

$774,147 PROFIT :

DETROIT, March 29 (U. P.).— Tne Packard Motor Car Co. had |

|consolidated net earnings for 1940

amounting to $774,147, after all al to 5 cents compared with |

the company’s annual report disclosed today. Factory sales of motor vehicles, | service parts and marine engines totaled $69,235,169 compared with |

"$63,425,063 in the previous year.

The company turned out 76,927 {Packard cars against 76,573 in 1939, | while total deliveries of new cars to | customers were 77,552 units against | 69,719, a gain of 11.2 per cent. The report said that the company | now is in production on its new | addition to the automobile line, the | “Clipper.” | First production engine of the 9000 Rolls-Royce aircraft power

under its $165,000,000 United States and British contract is scheduled

said. Packard’s marine motor division, which makes aircraft-type engines for the U. S. Navy's “mosqoito boats,” has signed contracts to date for $17,500,000, the report said.

HERCULES ELECTS MORROW WILMINGTON, Del, March 29

Wooledr lambs, $11.35 s patingly: bulk good and choice 94-101 lbs. $11.10@ 11.93, most 103-106 lbs., $10.90 11, and few upward to 116 lbs, at $10.50 and $10.65; Fresnly shorn lambs, $8.754 8.90, with 60-day shorn around $9.25: fat sheep very scarce, double handyweight fed Western ewes 1d $7.25, most small lots natives, $6

OTHER LIVESTOCK

LAFAYETTE, March 28 (U. P) wa market, unevenly 10 cer nS , SHghel to [cents lower; 160-200 1bs., 7.80; 200250 oS: vi 37. Soa 90; 250- 305 Re $7@ 17.40; igs, down, roughs, $6. 2 down. Calves <3. Soa 12: 75.

BR ambe $10@ U. S. STATEMENT WASHINGTON, March 29 (U. P.).— Government expenses and receipts for the] current fiscal year through March 27 compared with a vear ago: ‘This Year $8.618,349,419.23 5.315,561.841.76 3308: 787,577.47

Expenses Receipts Gross def.

| Net def...

Cash bal. Workg bal. 1,57 i Pub, et 46.619. 483. 861 Gold res.. 22,359,465, 88s: EY stoms 258.262.789.52

INDIANAPOLIS CLEARING HOUSE —Today— LGisarings | Debits 8,925,000

~—This Week— wee . SIS, 455, nnn 000

» 225,

Clearings Pevits__......

TWO 640-FOOT ORE BOATS ARE ORDERED

CLEVELAND, March 29 (U. P.).— | Na!

A contract was awarded today to the Great Lakes Engineering Works, River Rouge, Mich., for construction of two new ore freighters, the largest ever to be built on the Great Lakes, A. H. Ferbert, president of the Pittsburgh Steamship Co. an-| nounced. The freighters will be 640 feet over all, with a 614-foot keel, 67foot beam and a 35-foot depth. single cargo capacity will 17,500 gross tons,

Hogs weighing 160 pounds or less ,™

[email protected] | Sf [email protected] | &

High Low —— Abbott Lab nt 118 Air Reduc - ie

Ch Del 14%

Ag 6% 6

Bank Note

|Am Home Pr. & |Am Ice 17

Am |Am R pf 8674 Am ghip Bldg. 34% Am 0

t Am Smit 7 ‘pf. 143% Am Stl Fdies . 32 m S .. 1g Am Am T Am Am Tob B Am Type'F m Typ Water W. Anaconda oe Anchor H Gl. 1 Armour I .... Armsuiong Ck Asso Dry Gds.. | Atchison oN | Atchison BE wa | Atl Line... IAL Saw | Atl Refining . Ref pf A.. Atal Corp . Atlas Corp pf. . Aviation Corp..

22'% ‘1081 agin Sh

22% 108'a 63% 4812

Balt & Ohio ... Balt & ot Barber Asp alt Barnsdall Bath Ir Ws ve gist

“+ 36 . 58 vue 283 ve T7634 my

BI ~JBIUTLICIRD WI INWARD WHOIS < 3 gpm a R

Cannon Mills. Carpenter Stl. Caterpillar T.. Celanese 22% nee pr Bn 119 Selotex : “i ent Aguir Cont Il Lt br 1m Cerro de Pasco 30% Certain-teed .. 37s Ctain-td 6 pr pf 2814 Certn-td 6 pr pf 28%

— — LORIN CII DWV EID +t += BD

— o —

1 & Pitts spl.. 491; Climax Moly Co 34!2 Col Fuel & Ir 16% Col & So . Col & So 1 pt. 2 Col & So 2 pf Col Broadcast B 1804 Colum Gas .... 3%

Com Solvents . CONEIh & So Com'th & S pf 59 Comwlth Bison By Cone Cigar... 113 Cons Aircraft.. "97 “oe or wis 31 Cons Edison pf 105% Cons Film pf... 2 Cons Oil Container cont Bak A ... Cont Bak Pi 3

Mot Cont Oil “el; Corn Prod .... Corn Prod pf. or Crane Co .. Crane Co cv ‘pf | Cream Wht Crown Zeller ... Crucible St .. Cub-Am Sug pf. Curtis Pub .... Curt Pub pr pf.. curtiss-Wr ..... Curtiss-Wr A . Cushman 8 Pin Cutler-Ham .

Deere & Co .... Del & Hud .... D Lac&kW ..... Det Edison .... Dev & R A ... Dist Seag Dome Mines ... Douglas Aire ... Dresser Mfg Du Pont

Du Pont pf ....124 124

East Air Lines 28% East Kodak ...1 Eaton Mfg ..... 32

281%

Ene P 85 pf... Erie . . Erie 1 pt

38: 1215 12% 37

Fair Morse .... Fed Lt&T .. Ferro Enamel... Fid Phen ... Firestone pf A 102% First N Strs ... 35" Follansbee Stl.. 5's Food Mach .... 27% Foster Wheel .. 15% Freept Sulphur. 43 oo Gair Robt 15% Gair_Robt pf .. 168% Gar Wood Ind n ano Gen Electric ... ! Gen F Gen Gen Gen Gen | Gen 1 [Gillette EN X Gillette S $3 pf 36% Gimbel Bros fi Goodrich 13 Goodyear a n 18

Graham-Paige . Grand PUn xets 18 T Va

12% 8 31's 102% 357 5g

27'2 15 43

1 163% 5112 32%

Granby

Grevhound Cp Grumman Air E 15% Gulf Mob&Oh..

Gu M&Oh pf b

. 1h snl. Hack Wat pf A. 373% Hall Print _.. 13% Hanna 5 of 108 Haves Mfg .. 2" Hecker Prod ... Houd-Her B ... | Houston Oil ... | Hudson Mot Hupp Mot

Ill Cent of Indian Ref .... Indpls P & L Insp Cop . Insshs cts Md. Interlake Ir ... | Int Harvester

Kan C Sou .... 83 | Kennecott

en val RR ... "264.093 454.52 L

In Lone Star ‘Cem. : Lou & Nash ...

Marine Mid .. Marshall Fld . M (Glenn) 3

Nat Nat Nat N

Nat Distillers ve Nat Lead a Nat Pw EL Nat Stee 55 Newmnt Mining N Y Cen NY Shin " Nol Sparks. \

N ' No Am Avh “eh No Pacific ...

hie Oil i 5

THE INDIANAPOLIS TIMES

FINAL N. Y. STOCKS

By UNITED PRESS

Net Close Change

FEET FEET IE

PLE L 44 HL

|: +]

+44

—

. —- '

- =o

a owas

PAGE

DOW-JONES STOCK AVERAGES

30 INDUSTRIALS —0.31 —0.65 0.55 | -.11 +0.41

Yerterday ..vvuviiiivnivenys 132.68 Week ARO .:sveusserssrsasss 121.92 a Month ARO .....ve0uuveesere 121.86 Year Ago High, 1941, 133.59; Low, 117.66. High, 1940, 152.80; Low, 111.84,

20 RAILROADS vores 28.55 ve 28.45 oo 2183

27.58

Today Yesterday Week Ago... Month Ago ....... vee Year Ago 30.86 High, 1941, 29.73; Low, 26.54, High, 1940, 32.67; Low, 22.14,

15 UTILITIES

Serer tes arena Cesta Rrte anna

Creat tian

Today Yesterday ..... Week Ago ... Month Ago ......... Year Ago High, 1941, 20.65; Low, 18.81, High, 1940, 26.45; Low, 18.03,

Sts aaN atta

Stock sales approximated 210,000 . | shares against 270,000 a week ago. Curb stock sales were 59,000 shares compared with 45,000 last Saturday.

High Low Close

26% 2% 113% 12% 27% 8'2 80% 24%

Pac G&El ..... . Packard : Am Airway Paramt Pict .. Parke Davis ... Pathe Film .... Penner Kk Dean ve elps RR tife” ve Phillins Pat ... Press Stl Car.. Procter & G .. 3 Pub Serv ...... Pullman Pure Ofl

29 38'% 107%

EERE

+ | Radio .. « | Radio f RadioRem Ra nd oe Republic Stl ve Revere Cop .... Reyn 8 pin Reyn . Roane OH

“3

— Wo» —

00-100 WLI I wre

w be ~~

Safeway ...... St Jos Lead Savage Arms {Seabd Oil ..... | Sears Roebuck |Servel Inc ... Sharp. & D. .... Shell Un Oil ... Skelly Oil Socony -Vacuum. So Cal Ed South Pac South Ry ...... South Ry nf . Sperry Corp ... 5 iegel Tne .

3 a hotbed oiled N

—-—

tudebaker 2 Superhtr Swift & CO +s..

A exay Corp ....

n RB Trang "e W Air. Tri-Cont e's 20th Cent-F ...

s Und El Fish... : Union B&P .... Union Carb ... Un Oil Cal .... Un Pacific +... 7 Un Tank ....... Un Aircraft .,. & Un Air Lines .. United Corp United Corp pf United Fruit ... 6

NAN a

6: 1% 22 91 61% . 57s 56 A223 122% —y 281;

bp Be ELE A

Vanadium .....

Walgreen Walworth .. Warner Bros

Woolworth .... Worthington .

Yellow Tr

Young Sheet .. 34's

Zenith Rad ....

Curb Stocks

High 135 . 34 ow 1h . 28%

15% 2

Low 135 341%

Net Close Change Alum Co Am . 135 “

Bellanca Aire Braz L&P ... Brewster Aero.. Brown Co pf ... Buff NEP pf 2 Sallite Tung ve Can Col Airw. ET Corp .. {Cities Serv .... Cities Serv 8 pf.

ans steel Met

Gon Sen "eh Hecla_Min .. Imp O Can Ins N Am Int Petrol Jacobs Co ..

a. NNN

oen ve bioheer. Gold .. Pitts Plate .... Un Lt&Pwr A Utah Idaho Sug y cane Venezuelan Pet. 3! 3 J. Vg

‘BUSINESS AT | A GLANCE

By UNITED PRESS Borg-Warner Corp. and subsidiaries 1940 net profit $6,730,462 vs. $5,683,801 in 1939. n Canadian National Railways sys- + | tem 1940 net loss $15384,567 vs. net | loss $38,239.264 in 1939. Hudson Motor Car Co. and sub-| sidiaries (exclusive of European | subsidiaries) 1940 net loss $1,507,780 vs. $1,356,750 in 1939. Market Street Railway Co. 12 months ended Jan. 31 net loss $249 - 004 vs. $211,656 previous 12 months. Masonite Corp. 12 weeks ended March 15 net profit after Federal income and excess profits taxes 3 $302,236 equal to 52 cents a common *|share vs. $254,873 or 43 cents year ago. Schenley Distillers Corp. six months ended Feb. 28 net profit before excess profits taxes $2,502,273 equal to $1.61 a common share. Twentieth Century-Fox Film Corp. and wholly-owned subsidiaries (excluding Roxy Theaters, Inc.) 52 weeks ended Dec. 28 net loss after providing $2,800,000 reserve for foreign assets was $517,336 vs. net profit $4,146813 in 52 weeks ended Dec. 30, 1939. Illinois Central R. R. Co, two months ended Feb. 28 net income $1,450,622 equal to 93 cents a common share vs, $99,055 or 53 cents on 6 per cent preferred year earlier. New York Central R. R. Co, two months ended Feb. 28 net operating income, $8,736,293 vs. $5,798,938 year ago. Norfolk & Western Ry. Co, week ended March 22 carloadings, 22,900 vs. 23.001 previous week and 17,930 year ago. Pennsylvania R. R. Co,, week ended March 22 carloadings, 76,307 vs. 75,838 previous week and 54,885 year ago; two months ended Feb. 28 net operating income $12,801,410 vs. $10,477,685 year ago; February net operating income, $6,068,024 vs. $4,622,340 year ago.

STOCKS, BONDS CLOSE HIGHER

Chicago Area Steel Mills To Step Up Production Next Week.

NEW YORK, March 29 (U, P).— Stocks made an irregular advance in light trading today. Bonds firmed and several commodities, including wheat and cotton, made new seasonal highs. Pittsburgh estimated steel operations next week at 102 per cent of theoretical capacity, the same as at the start of the current week. Chicago’s steel rate will rise to a record high at 101.3 per cent, mill managers reported. : Pre-Baster retail trade was reported rising sharply. According to a Dow-Jones survey gains over a year ago range upward to 53 per cent for some department stores. The high level of business activity, plus reported British successes against the Italian fleet in the Mediterranean, lightened selling in stocks and bonds and many issues displayed rallying tendencies. Selective buying in special issues featured.

HIGHER AT CHICAGO

CHICAGO, March 29 (U. P)— Broadened public participation in the grain markets on the Board of Trade boosted prices sharply today. All deliveries of wheat, corn and soybeans advanced to new seasonal peaks before offerings developed in enough volume to satisfy the demand. The open interest in wheat futures after yesterday's close dropped to a new record low point. Wheat finished at the best levels of the day and showed net gains of 17% to 3% cents, May 913% @917%¢. Corn was up 1% to 17% cents, May 683: @ sc; oats up '= to 7% cents, May 373%c; rye up 5% to 1% cents, May 45%c; and soybeans up 3% to 3% cents, May $1.113%@1.11%.

RANGE Prev

Close 20

Wheat

Oven $ 90% $

887% 89%

Low Close 90's § 913, 8 S1%

881% 89

High 917% §

90% 91,

May July... Sent...

Corn— May.. .67

July... .67%

6812 .6673

67%

Sent Oats— May . * July tJuly *Sept Sept Rye— May... *July. tInly *Sent. tOld .

Soy Beans— May.., 1.09% 1.11%

July... 1.07% 1.10! Lard—

CASH

Wheat—No. 1 hard, 95'%c; 03'2¢; No. 2 mixed, 95¢ yellow, 68% @71'2¢c; No. 3 yellow, 67'4@ T0%c¢;: No. 4 yellow. 65'2@67c; No. 5 yellow, 64@64'.c; No. 2 white, 75%c; No. 3 white, 73¢; sample grade, 55@63'2¢c. Soybeans— No. 2 yellow, $1.1174%@1.12; No. 3 yellow, [email protected]%;. Oats—Samples grade white, 37%c; No. 3 white, 39@39'%c¢: No. 1 white, extra heavy, 40'4@41%c: No. 1 white, heavy, 38'2@3834c; No. 3 red heavy, 39c. Rye—No sales, Barley—Malting, 53@66¢c nominal: feed, 48@ 52c nominal: screenings, 35@50¢c nominal; No. 1 barley, 66¢c; No. 3 barly, 61¢; No. 1 malting, 59¢; No. 2 malting, 55¢. Field seeds per 100 lbs. nominal; timothyseed, $4: alsike, $9.50@ 12; fancy red top, $7.50@8; red clover, $8@ 10; sweet clover, $3.50@4. Cash provisions—Lard, $7.92 nominal; loose. $7.10 nominal; leaf, $7 nominal; bellies, $11 nominal,

LOCAL GRAIN

ASH Wheat—Strong. Ca ts... 1 carload; red, 89@9%0c; No. 2 red, 88%;@89c;: No. hard, 87@88c: No. 2 hard, 86@87¢c Corn—Strong, receipts, 58 carloads; No. 2 vellow. 63% @64%c; No. 3 yellow, 61%@ 6312¢; white corn, 4 to 5 cents over yellow, mixed, 1 to 2!2 cents under. Oats-—Strong; receipts, 9 carloads; No 2 white, 37'2@38c. No. 2 red, 36%2@37c, Soybeans—Strong; receipts, 4 carloads; Indiana, $1.03@ 1.04: Tilinois, $1.08@ 1.04,

No. 3 hard, Corn—No.

1 1

WAGON WHEAT Indianapolis Xrail elevators are paving for No. 1 5¢; subject to market corn; New No Cs white shelled corn, 67c¢; new No. 2 yellow shelled corn, 63c; No. 2 white oats, 33¢

» Incorporations

Dissolution of The Handy Wholesale Co., Morristown, Ind. Town Club, Inc., 128 W. Vy Rarey St., Kokomo, Ind. resident agent; M. Louth, 1132 N. Buckeye St. Kokomo, 1% no capital stock; social advancement of business and professional men who are member; of the clvb: H. Sh Brown, E. E. l.eVan and P. H. Durh Mercer-Cripe Builders ‘Inc., 1017 Deapies agent, Harry

" |son St.,

Bank Bldg. Indianapolis; Mercer, same address: :000 shares of $10 Par, value; construction business; Harry Mercer. Paull. Cripe, H. Duff Vilm Graystone Apartments, Inc, 225 E. JackMuncie; agent, Charles V. Bender, ® address; 1000 shares no par value, to operate apartment building: Charles L. {Ben er, Charles V. Bender, Nina Bender. Salesmen’'s Finance Corp., 31 « 11th lst Indianapolis; agent, Harvey Barnard, | same address, 1000 shares of $100 par { value; to operate real estate and insurance | business and sell automobiles and accesories: William R. Krafft, Malcoln C. Griffith, Roy Eberly, Harvey Barnard. William M. Coady Coal Co, Inc., Kokomo, amendment authorizing 100 shares preRered stock of $100 par value, Peru Daily riubhe Publishing Co.. Inc., Peru, amendment changing number of diregtors to three The Methodist Gary. no capital Lawson, Averill

Ine., James Slick, Edgar

Hospital of Gary, stock. the Rev C, Colby, Glen Charles D. Lutz, Peter W. BSeyl, Blake Jr., Harschel B. Davis. Commerce Petroleum Co., Illinois core poration; admitted to Indiana to deal in petroleum products. Beverage Self Service, Inc, change of address to 1450 E. 20th St., 12, Indianapolis.

U. S. Government Bonds

U. §. GOVERNMENT BONDS Treasury TS.

Indianapolis, No.

Close 119.20 101%

, igh Low 414s 1952-47 9.20 119.20 —New York Six Bonds— N Y City 3s 1980 101% 101'%

LOCAL PRODUCE

Heavy breed Solored hens, 15¢; No. 2 colored hens, ; Leghorn hens, 12¢: No, 2 Leghorn hens, 9c. broilers 3 lbs. and over, 19¢; White and Barred Hocks. 19¢; colored breeds, 18c: cocks, Dees se Jae. Butter

—No, 1 34@34 fo. Yo 2. hae 2'%¢, Bute (Country pickup prices a quoted by the

terfat—No 30c: PERSONAL LOANS

May be arranged through our ersonal Loan Department

The Peoples State Bank

30 E. M Member Federal Doon Ins, Corp.

AUTO and DIAMOND

LOANS

and Refinanuing

ww MONTHS TO PAY

Wolf Na Inc.

AL ~

WANN

CORN, WHEAT CLOSE

eT we

major farm crops.

| Country

Cotton House Is Demountable

WASHINGTON, March 29 (U. P.).—The Speedwall Co. of Seattle, Wash., today displayed a new type of demountable house covered inside and out with cotton sheeting designed as an.answer to the urgent need for defense workers’ homes. The modified Colonial cottage of 5-room size will be built in a group of 400 for defense workers in a model community on San Francisco Bay under terms of an agreement between the company and the Public Building Administration. Building each house requires only 110 man hours of labor, a primary factor in providing defense housing.

600D WEATHER BOOSTS TRADE

‘Retail Buying This Week at

Best Level of Season, Authority Says.

NEW YORK, March 29 (U. P.) ~~ Favorable shopping weather brought a spurt in retail trade this week that lifted volume to the highest level of the season, Dun & Bradstreet, Inc., reported today. Margin of sales increase over & year ago widened abruptly since

lA “uo

KNIGHT PRAISES NEW FARM LABS

May Be Converted to Use For National Defense, Conference Told.

By Science Service CHICAGO, March 29.—The four new regional laboratories of the U. S. Department of Agriculture, now just getting into action, will permit larger-scale experimentation than has been possible in the past, Dr. Henry G. Knight, chief of the Bu-

reau of Agricultural Chemistry and Engineering, will report here today at the Seventh Annual Chemurgic Conference. About a third of each of the mil-lion-dollar buildings will be devoted to pilot-plant operations, that is, experiments using equipment only a little less than full factory size instead of the small flasks and testtubes of the ordinary laboratory. Pilot plants enable manufacturers to get an idea of how profitable an operation may be. Located at Philadelphia, New Orleans, Peoria, and near San Francisco, for work on typical agricultural products of East, South, North and West, respectively, these laboratories will be staffed by about 1000 men and women, including some of the most successful chemists the country has produced. “These laboratories could be turned into research institutions for national defense should the occasion demand,” Dr. Knight will point out. should lose the freedom of the seas and be cut off from the rest

, lof the world our export trade would

probably drop below the low mark where it now stands. “It is reasonable to assume that such a situation would further increase the surplus problem and make

4|it necessary for us to create in this

country, if possible, greatly expanded markets for many of our That's the object of the laboratory program.”

: CURTIS MAGAZINE

comparisons were ma with the

| post-Easter period of a year ago. | This week's retail dollar volume was

estimated 9 to 16 per cent above the corresponding 1940 period, compared with a year-to-year gain of 2 to § per cent in the previous week, “In the spotlight this week were the apparel and accessory lines which had heen most affected by unfavors able shopping conditions,” Dun & Bradstreet declared. “Other lines beginning to feel the full force of seasonal demand were farm and gardening implements, paint, cleaning items, and sports equipment. Sales of home furnish= ings, profiting from the building expansion, increased consumer incomes, and some buying in anticipa= tion of price increases, continued to run 15 to 25 per cent above a year ago.’ Retail trade showed the following percentage gains over a year ago on a regional basis; New England 6 to 11; East 8 to 15; Middle West 12 to 18; South 13 to 16; Southwest 7 to 15; Northwest 5 to 9, and Pacific Coast 9 to 14. “Commitments in wholesale mar= kets,” the trade authority said, “continued on a generous basis, add«ing to the already large backlogs of orders in wholesalers’ hands. With deliveries tight and growing increas ingly tighter in dry goods, metal products, and home furnishings, premiums above contract levels ob= tained frequently for spot and nears by shipments. “In some lines wholesalers ree ported that the only check on vol« ume was their inability to sell wanted delivery.”

HUDSON BUILDS NEW MACHINE GUN PLANT

DETROIT, March 29 (U, P.).—Hudson Motor Car Co. has started construction on a $20,000,000 plant to manufacture anti-aircraft mae chine guns and other ordnance for the U. S. Navy, the company's ane nual report said today. The report also revealed that the company's new aircraft division, which occupies a section of its De= troit plants, is now in production on ailerons for Republic Aviation Corp. It added that negotiations are under way for the construction of bomber fuselage sections which

PROFITS $3,044,643

PHILADELPHIA, March 29 P.).—The Curtis Publishing Co. re-

2 lup more than 50 per cent over the

preceding year, The total number of all Curtis magazines sold in 1940 was reported at 240,250,860, a new record high, with each publication establishing an all-time circulation peak. For the last six months of 1940 the average circulation of the Saturday Evening Post was 3,273,409; Ladies’ Home Journal, 3,650,318; Gentleman, 2,145,375, and Jack & Jill, 202,699. Net profit after all amounted to $3,044,643, with $2,021,254 in 1939, profits were $1,279,162. Taxes paid by the company last year amounted to $1,647611, a rise of 27.8 per cent over the 1939 figure of $1,289,793. The company pointed

charges compared In 1938 net

$66 from 1939.

(U.

out that 1040 taxes were equivalent |:

are to be produced by the aircraft division. The company has also been awarded a contract for a large quan= tity of pistons and rocker arm ase

ported today that despite a sharp semblies for Wright airplane ene rise in taxes, 1940 net profits were gines.

A. E. Barit, president, reported that although the company operated jat a profit during the last half of 1940, it showed a net loss for the full year of $1,507,780, after al charges. Net loss for 1939 amounted to $1,356,750. He said also that total 1940 car shipments amounted to 87,900 units, Domestic shipments rose 14 per cent over 1939 but export shipments, be= cause of war conditions, suffered a sharp reduction, making total gain in shipments 7 per cent.

FOOD PRICES

CHICAGO, March 29 Michigan Jonathans tomatoes M2xican lugs Texas bu., 75¢

(U, P.).—Apples, bu $1.25@ 1.35; [email protected]. spinach, 10: Caulifiower, Cali« fornia crates, $ . carrots, California 82.35@ 2.85; lettuce, Arizona crates, [email protected]; sweet potatoes Tennessee bu. $1.25@ 1.60. Onions (50-1b. sacks): Tilinois

crates,

to $40641 per employe, a rise of]

vellows (new) $1.25@ 1.35 Michigan vellows, $1.35; Colorado Sweet Spanish, $1.90@ 1.95

A SAFE DEPOSIT

BOX IS LOW COST INSURANCE 9 Different Sizes

$3 to Year

Member Federal Deposit Insurance Corp.

Security Trust Co.

130 EB. Washington

113

(HF. 10l 30S

Kamber cLo

YLE LEADERS VALUE

36 EE WASHINGTON ST.

MARILYN FURS

A Better Fur Coat For Less Money!

2440 N. Meridian St.

PROGRESS LAUNDRY has solved the problem of laundering Chenille Bedspreads.

OUTFITTERS TO MEN, WOMEN and CHILDR

THE MODERN CREDIT STORE

120 W. Wash, Goigns, Torr

Is Opposite Us nn

PHOTO-LITHQO and PLANOGRAPH Prints

i! LIRGRE LIT

La Ny

Indianapolis Blae Print & Lithograph Co.

To Keep Valuables Safe Rent a Safe Deposit Box at

% UE INDIANA NATIONAL BANK

of Indianapolis SAXOPHONE $ Instruction Corner

INDIANA MUSIC CO.

115 E. Ohio St. = LI-4088

MArket 2431.

Something New and Different

Kemi-Coated 69

HOSIERY

MILLER-WOHL CO. 45 E. Wash. RI-2230

Passenger Cars ' FOR RENT

DRIVE IT YOURSELF, Ino. Phone Riley 7788

1TY 8 $1.00, $1.47

NOVYLRY SHOES

KINNEY’S :

138 E. WASHINGTON ST.

2 WEEKS TILL EASTER Just time enough for Leon to tailor your Easter outfit for you. ORDER NOW!

Open Till 9 P. M. Tonight LEO TAILORING CO.

235 Mass. Ave. BUSINESS EDUCATION

Stron Accounting, BoQickcoping StenogTaphtc and Secretarial course Day and evening sessions, Lincoln 8337. Fred W. Case, principal.

Central Business College

Architects and Builders Buildin, Pennsylvania & Vermont Sts, In

2 WONVE T LOC sh 0 ra a 5339 BE. aR

TRY A WANT AD IN THE TIMES. . THEY WILL BRING RESULTS.