Indianapolis Times, Indianapolis, Marion County, 22 April 1941 — Page 16

Page PDF (9.96 MB)

Back to issue view

PAGE 16

THE INDIANAPOLIS TIMES

STEEL ‘FREEZE’ |Indianapolis Bank Debits Reveal Spending Here

IS CRITICIZED

Kulas of Otis Calls Price, Labor Policy of U. S. ‘Squeeze Play.’ CLEVELAND,

April 22 (U. PD) —

President E. J. Kulas of the Otis | Steel Co. charged today that Fed- |

eral Price Administrater Leon Henderson’s action in “freezing” - prices constituted a defense program.” “Like many other steel panies,” Mr. Kulas said in a statement, pect of operating with a loss or at a drastically sub-normal profit under the frozen price schedules, . . . The Henderson action is a threat to the

defense program because steel com- | efficiency | is |

panies cannot maintain without a profit, and efficiency the essence of the defense program.” Mr.

forts to avoid inflation, but charged |

that “that end cannot be attained

by encouraging wage advances and |

higher costs of coal, food and other commodities.”

“All cost and price factors must |

be under control, steel

prices,” he said. Cost $1,200000 a Year

not just

“Henderson's action in day he clamped a ceiling on steel) prices, was discriminatory. Many | of the steel companies have been | caught in a squeeze-play and some prompt action is necessary to extricate them.” Mr. Kulas said 10-cent per hour wage increase in the steel industry would cost company $1.200000 annually.

that the

noted that the concern last year had |

a $700.000 profit, but said that costs were rising this vear and that there was also “the outlook for sharply higher taxes.”

‘Wages Up 30 Per Cent’

“With losses or sub-normal profits steel companies cannot borrow capital nor accumulate surpluses needed to repair and expand plants in step with rapidly incre asing requirements of national defense,” he said “There has been no opportunity to accumulate surpluses over the last 10 vears, because the industry's earnings have averaged less than 2 per cent a Year on investment Meanwhile, steel wages are 50 per cent over the 1929 level, alt hough prices ar are up only about 2 8 per cent

W heat Futures Gain at Chicago

CHICAGO, April 22 (U. P).-

Wheat futures on the Trade trended moderately today 1 cent a bushel at one time, while other grains were mixed. At the end of the first hour, wheat was up sx to 3c; May 80%c. Com was up % to lic; oats off ‘ici rye up 4 to 3c. and soy beans up % to 3c

1 \ 1 TRQ 1 Hua AGO LIVESTOCK CHICAGO, April U. P.).—Hogs—Receipts, 13/000: fairly active after low Stat) enerally 5 10 cents lower; good an § A Woo. 240 Ibs. [email protected]; top, $8.75; ) Ibs. [email protected]; 270-330 Ibs, $8.10 160-180 Ibs, $8.25% 8.60. sows steady to weak: good 400-500-ib. weights mostly $7.50G 5.75

Sheep— Receipts, Western lambs closed on rank and file; good Ihe wool ed offering: a few loads best $10.60@ 10.80 latter

late Monday: fed ly 50 cents lower nd choice 96-112 at $104 10.50; mainly lighter weights ‘early, extreme top ‘to shippers; weighty and unfinished wooled Westerns under $10; most ippers, $8@$.10, sprinkling native ewes down 1o $7; today's trade. market on fed wooled Westerns and shorn lambs not yet established: all offerings held at firm te higher prices or above $10.75; Tew early bids on packer acoount steady with Mondays closed at $10.50. ewes scarce and ondy few scattered saler today at 87 down Cattle— Receipts, 7000; ealves dull market on Steers and steady to 25 cents lower: weighty under severe pressure aga ing most downtur su 1200 Ibs. liberal: weighty Ibs ings,

2000 f

1200: very vearlings steers ng over $9.75@ $11.85@ $8.75

few ads medium grades $9.50 11, best, around cattle more nearly in prices than heavy $11.30 on all repbut hoice heavies cows weak to 15 cents weak bulls firm; gs to $8.35: vealers vealers, $9@ 0

vearl

Lop we ahove 212.50 mostly slow sausage offe $11 dewn

€ nus, held ower weighty weak at

With many European markets shut off, South American markets are be coming Increasingly importeit. We recommend te you the A KRAFT, the most complete business directory of South America ever published. Covers Argentina, Bolivia, Chile, Paraguay, Peru and Uruguay.

Four volumes, 5000 poges, stpard anywehere mm the Pmited States — $2000.

JOSHUA B. POWERS, INC.

Publishers Representatives 220 Bost 42nd St. New York City

steel | “threat to the |

com- |

“Otis is faced with the pros- |

Kulas said that he favored ef- |

removing | the ceiling from coal prices the very

recent;

his |

Board of} higher | Sov beans were up more than|

these show-

By ROGER BUDROW

Bank debits, a measure of money being spent, are rising in Indianapolis. During the first two months of this year, Indianapolis bank debits were running 119 per cent ahead of the same period last year. Today the accompanying Indianapolis Times Busi- | ness Summary shows bank debits are now now 14 per cent ahead of last year thus far. The fact that the public has more money to spend and is spending it is shown in the retail trade report of the Federal Reserve Bank of | Chicago. The larger Indianapolis department stores, taken together, had a gain of 72 per cent in their sales in the week ending April 12, compared with the same week | last year. This must be qualified, however, with the fact that the week ending April 12 this year was the week just preceding Easter whereas the April 12 week last vear was after Easter. Nevertheless, the gain made by local stores was the largest of any in this (Seventh Federal Reserve) district which includes Detroit (up 32%), Chicago (up 26%) and Milwaukee (up 13%). For the four weeks ending April 12, Indianapolis again was in the lead with a 31 per cent gain over the same four weeks last year but only a step ahead of Detroit with a 30 per cent gain. Practically every division of the Indianapolis Business Summary this week shows a gain over last vear. Building permits hit a value of 3'¢ million dollars and are 1208 per cent ahead of last year. The number of persons getting jobs through the local Employment Security Division office rose to 34.1 per cent over last year, while the number claiming unemployment benefMs fell 56.7 per cent below last vear.

Roger Budrow | 1 i

Is Now Running 14 Per Cent Ahead of Last Year

Indianapolis Business Summary

Bank Clearings .....ccesseictncs Bank Debits Postoffice Receipts .............0 Building Permits Houses Apartments ........cooiennnn Business Industrial Public “eh Repairs and Alterations Applied for Jobs Received Jobs

Claimed Unemployment Benefits (April 12)

Freight Carloadings: Inbound

Outbound Electricity Output (kwh) .... Water Pumpage (gallons) Streetcar Passengers (April 12) Telephones in Use (April 17) ,.. Livestock Receipts (head) Cattle Calves HOES cocstisssastssseantannes Sheep Grain Receipts (bushels) Corn Wheat Oats

Petts

sess Rr

Per rss e nse

Pere Rss essary

cece sabres

sen

CEE

seats

PY EEE EE ER

Sess ssa Rts sanr ERE

Sesh tassar ERT

Seurces of above figures: Nivision: New York Central (Monon); New York, Chiea St. Indianapolis Water Co.: Indianapelis Board of Trade:

Inbound ecarloadings dropped somewhat, but outbound carloadings rose. Electricity output climbed to 12 per cent ahead of Jast year and water pumpage, which had been below last year thus far, increased to within a fraction of last year. The number of persons riding streetcars and busses in the city is ahead of jast vear and 9.2 per cent more telephones are in use, On the other hand, relief costs in Genter Township are consid-

Indianapolis Clearing Honse Association: Railroad: PeunsyiVania: Louis Railways: Center Township Trustee;

% Change 41 vs. 0 + 12.8 + 140 + 48 + 1208 "= 47.0 +10,511.1 197.5 1,023.9 87.5 40.0 15.2 34.1

Week Last Week Before A Year Ago $19,591,000 $19,431,000 $61,728,000 $49,353,000 £90,456 £80,383 $115,364 $140,099 $75,200 $104,600 0 0 $22,300 $26,475 0 0 0 0 $17.864 £9,024 960 736 813 402

1940 Thus Far

$314,545,000 $789,523,000 $1,394,112 $1,486,384 $1,016,080 £1,800 $141,375 $95,300 $64,729 $239,508 11,494 5,276

1941 Thus Far

$354,836,000 $899,969,000 $1,461,195 $3,281,363 $1,493,925 $191,000 $420,580 $1,071,000 $121,400 $335,312 13,244 7.075

Last Week $28,769,000 $74,275,000 $90,376 $415,111 $241,050 0 $54,500 0 $112,000 $7,561 1,129 631

1,588 1,882 3,390 61,268 26,556 56.7 3,125 2,238 13,308,000 219,000,000 1,438,615 +185 63.439 6,225 2,986 19.621 4.60% 656,000 492,000 2,000 100,000 18,000

38,000

3,322 2,208 13,154,000 212,710,000 1,448,935 4233 52,264 5,453 2,882 41.513 2,418 548,000 338,000 20,000 144,000 8,000 38,000

3,001 1,600 11,388,000 202,360,000 1,310,776 +205 58,516 6,764 2,510 38,833 10,409 362,000 237,000 11,000 96,000 15,000 3,000

Indianapolis office of Raltimere & Ohio. Minois Central: Chicago, (Nickel Plate); City Building Commissioner: Indianapolis Power & Light Co.; Indiana 8ell Telephone [o.: Agricultural Marketing Service; Indianapolis Indianapolis Postoffice; Federal Reserve Bank of Chicago.

45,138 25,859 187,134,000 3,396,600,000 20,046,849 95,027 942,293 100,593 40,461 689,082 112,147 6,781,000 4,963,000 313,000 1,218,000 136,000 151,000

52,720 29,142 209,495,000 3,392,100,000 20,197,365 103,760 891,201 94,517 40,197 661,448 95,039 9,826,000 7,602,000 432,000 1,504,000 67,000 221,000

State Fmplovment Security Indianapolis and Louisville

16.8 12.7 12.0 1 8 9.2 5.4 6.0 a 40 15.3 449 53.2 38.0 23.3 50.8 46.4

erably lower than last year. At the end of last week there were

3971 cases of relief, Trustee Henry Mueller reported, involving an expenditure of $28,120 this month thus far. This compares with 6647 cases last vear at the same time and $71.358 expenditure. Nearly 59,000 hogs were marketed at the Indianapolis stockvards last week in response to the Government $9 price program but prices here fell 15 to 40 cents from the previous week. No

Government buying was apparent yet. Ligater and medium weights were hardest hit. Dressed beef prices were lower and live cattle prices slumped sympathetically here, losses ranging to 25 cents or more. Vealers dropped sharply in dull post-Easter trade, the $1 to $1.50 loss putting them at the same level as last year. Hogs, however, are $2.50 to $2.70 over last year and cattle 75 cents to $1.50 and cows $1 to $2 above 1540 pric es.

STOCKS MIXED

AFTER A RALLY

Adverse War News, Talk Of Higher Taxes Give Market Setback.

NEW YORK, April 22 (U. P). Stocks turned irregular after a midday rally today on adverse war news and talk of increased excess profits axes, | Bethlehem Steel declined 2 points |from its high and showed a frac-| tional loss. U. S. Steel lost nearly all of a point gain. Chrsyler and General Motors were slightly lower. Johns-Manvilie rose nearly 2 points and held the gain on its first quarter report showing sales the third largest on record for any juarter. International Harvester lost all of a gain of nearly a point on the request of Leon Henderson, price administrator, that farm implement companies keep prices unchanged. Weakness in automobile shares was attributed to Washington dispatches stating that metal shortages may force a larger reduction in the next model year than the 20 per cent recently agreed on by the iIndustry.

\ 3 1 OTHER LIVESTOCK CINCINNATI, April 22 (U. P.).—Hogs— 4025; market not fully established: opening sales 15¢ lower, b. TO; $8.55 for good ana choice 180-220- butchers: 240-260 Ibs. $8.25; 0 7%] Soy , $8.10; 300-350 ibs., $7.85 07.95 60-180 Ibs, $8.45; biddin 15¢ lower ™ medium and good 100-160 lbs, $6.50@ 8; packing sows, steady; good grade,

$6.95@ 5.2 Catile—500: calves, 500: most classes steady, good steers and heifers, $9.50@ 10.25; Jona good 750- 1b. heifers at outside: common and cutter steers and heifers around $7.50@8 50: cutter cows, $6.25@ §.75; strong weight canners, $5@6; bulls, 50; good and choice vealers, $ a [email protected]; common and

100: mostly clipped lambs; and most early sales clipped lambs, $8.55; package choice 70-1b. spring lambs, $13.50; wooled lambs and sheep scarce, steady. T. WAYNE, Apri (U. P.).—Hogs— 15 c2nts lower 20 1 £8.35: 180-200 . $8.2% 160, , $8.15; 220-280 Ibs oe:

. $8: 260-280 Ibs. 300-350 Ibs. $7.80 Ibs. $7.93; Ibs, $7.45 120-130 . $6.95. roughs, $7.25 17; fed Western lambs, jambs, $8

$10@ 10 28: cl 28: ‘Clipe

LOCAL PRODUCE

breed colored hens, 1%¢; No, 13¢; Leghorn hens, 13¢: No 9c. spn ngers, 3 Ibs, White and Barred Rocks, 19¢: cocks, Ye.

2% 36c¢: Neo.. 2 butterfat. ‘Ne 1. 32¢; No. 2, 30c.

Heavy colored hens, 2 Leghorn hens, over, 20c: colored breeds, Eg 5

34a

Farm pickup prices qgouted by

—

COMMERC

Wadley Co.)

IAL LOANS

In Co-operation With THE DEFENSE PROGRAM

IRIEL LLLARY B1\k

Pennsyhvania and Market Streets

KENTUCKY ROCK ASPHALT is SAFE ECONOMICAL and DURABLE . . . . .

TA HNN EIT

"PREPAREDNESS"

The speed and economy with which Rock Asphalt can be applied has brought it to the attention of those whe are responsible for the nation’s welfare. Day by day more men and material are traveling by Kentucky Rock Asphalt. Its also found in army camps—key highways—and air-

ports,

h |

sausage | Prancisco

top | Gar Wood Ind. .

| Geter Ss o Lio-150 | Glidden ens

and 21¢;

N. Y. STOCKS

By UNITED PRESS

| ! Net { High 36's

Last 36's

Low Reduce

| Afr +

Aled Stores “hh Allis-Chal Amerada .. . Am Car & Fdy | Am Hide & IL... {Am Home Pr .. {Am ‘ih | Am | Am Am Am T Am Am Water W Anaconda Armour Ni Atchison Atl C Line .... Aviation Corp. .

jf | 1

Ban S Ar... Bath Ir WKS. out

Sen

Bry

BUI DII RDO

Boe. ng Air orden . Re own Shoe Bush Term

Butte Cop & Z

Sas

sv BANA

.e ERR)

Cal Packing Cal Packin allahan

pt een ne

“ae

Tet BND pW FY

| Ches y Chic Gt Chrvsler Colgate-P-P Colum Gas Com Inv Tr Com Soivenis Comwith Edison Oons Edison... Qil .e | Qont Mot { Cont Steel { Corn Prod | Crown Zeller pf

fr LE Ee Lh ] > ~~ Ed = ra

A’ won Ww

ny oH Shmen'a BeBe ty a FRA a 3, mE

hl Ld

ips I} hv; &10s 1907: 140% —— 26% 37s

Deere & Co... 19% v & A... Douglas Aire Du Pont ... B Paso N Gas Eng Pub S Ene PS 5.5 of Fauit Bldg.

26% 37 81 1 Florence Stove

Foster Wheel Sug

Gair Robt

Baking Cable Electric G & E Motors

Gen Gen Gen Gen Sen yen

“oy AOR me A — yA mw a “1 Beso - pr SW LE NC TURE RR AE ye ay oa AA EA aw

Glidden

aoa

Yr 34

Nano a Ly SND

hr —_—r RII ND DUS PUY

ty rs,

ABD Soran Hor Graham Paige . Grand Un xcts {Gt Nor Ore ... | Gt West Sug . 22's | Grevhound Cp. 10% rut Mobile Oh 2%

RIN ND

Wo a yew fr pr 4 —- Ea

oo -

pr > tr

1372

pr “

pr A BID

”

2% 106% 10% 6612 52% 17% %

Ham Watch pt. 108. Here Mot .. Herc Pdr Hershey . . 92% Hud Bay M&S. 17% Hupp Motor ..

the |

Indpls Pa&lt Inspiration Cep Interchem ... Agric Hyd El A... M Marine. . Nickel .. - $s

| Jarvis Ce

Rreske ss Kroger F & B.

xh V Coal wl. wh F x | Done Star 4 | | Marine Mid .. cGraw Ei . 20% _ Mclniyre Pore 33

41% 20% 33

de 3

Change | PY Yesterday i. Week Ago Fy Month Ago ......... "RaRL Le 122.38 15 Year Ago

bi Ya

1 * Yesterday

. ®

y Te % 11% a

‘® 1

a ‘a 2

'% | West Union ..

% {Young Sheet al

SEARS WORKERS RECEIVE STOCK

= 941 Shares Added to Fund Of 216 Indianapolis Employees.

The 216 Indianapolis employees of | * Sears Roebuck & Co. today rejceived their share in a $4,136,129 | “pot of gold,” the company’s contri-

=0.8% bution to the Savings and Profit | —0.96 Sharing Pension Fund of the firm. | +0 This sum includes 5 per cent of the company’s 1940 net profits be- | (fore taxes were deducted and a [special contribution of $1,000,000. Net All money contributed to the | Change fund by the company and employees | i goes toward the purchase of Sears ‘|stock and the latest contribution adds 541.2 shares to the personal 1» accounts of the local employees. . | Based on a market price of 72% |

y8las of Jan. 31, 1941, the aggregate!

1-32 value of these shares is $39,301. With | this new addition to their stock! holdings the local Sears employees now have to their credit a grand | total of 2078.9 shares. Figured on the! same valuation of 723, [sents the sum of $150,982. Employees over the nation own 12 per cent of the Sears, Roebuck | & Co stock. “The 47,155 Sears employees who {are members of this fund have deposited $14,883,524 to get this credit of over 50 millions. Thus there is a difference of $35,819,188 between what the employees have put in and what their deposits are worth,” Stanley W. Shipnes, manager of the local 18 store, said.

LOCAL ISSUES

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

Stocks

Agents Finance Co. Inc. Agents Finance Co., Inc, Beit RR & Stk Yds com Beit RR & Stk Yds pid... Central Ind Pow Vi x |Comwith Loan 5% pid Hook Drug Inc com |Home T & T F\. Wayne 7% ‘pid S0 {Ind Asso Tel Co $5 ptd | Ind & Mich Elee 7¢ iInd Gen Serv Indpls Gas com {Ind Hydro Elec 7 p {Indpls P&L 54% pid Indpls P&L com Indpls Water 357% pfd sassad Lincoin Nat Life Ins com N Ind Pub Serv 5':7¢ pfd Ve {N Ind Pub Serv_67% J :} A {iN Ind Pub Serv 77 pfd 5 S Aeon s {Progress Laundry com 3 2 Aber "14 Pub Serv Co of Ind $" | S : {Pub Serv Co of Ind 77% ! bh Jag G&L 487% pid > , “k 3 erre aute Elec 6% jv I C&C pt “* | Union Title Co com iVan Camp Milk pfd | van Camp Milk com ve | Bond —ye el {American Loan 5 $1 : | American Loan 5s 46 "su | Gpsel Fin $s 50 Citizens Ind Tel 4'%s 61 1, |Home T&T Ft Wayne S'%s .. Crabb-Revnolds-Taylor 5s 42... © Home TXT Ft Wavne 6s 43.. Ind Assoc Tel Co 3'2s 70.... {Indpls P & L. 3%s _ 70.... Indpls Railway Ing 5s 67 Indpls Water Co 37s 66 ...... Kokomo Water Works 5s 53.. { Kuhner Packing Co 4'%s 49. | Morris 5 & 10 Stores 5s 50 ....100 » Muncie Water Works 5s 65.... {Nat Silk Hosiery 5s 42 Ind Pub Ly Ns | 69 N Ind Tel 4's 55 .

| DOW-JONES STOCK AVERAGES 30 INDUSTRIALS —0.09 —0.30 +0.39

1941, 1940,

133.59; 152.80;

Low, Low,

Righ, High, | Yesterday Week Ago Month Age Year Age High, 1941, High, 1990,

= 3% ae 33 29.35; 96. _ 32.6%; Low, ek

153 UTILITIES

{ | i 8 18.10 | Week Ago Month Age . Year Age High, 1911, High, 19%0,

+0.01 | : Low, 26.45; Low,

“ |

18.03.

| High [| Merch & Min _. 26% | Midind Stl pf 107 Motor Whi 18%

Low Last 263% 10% 14'2

| Nat Nat

Dairy ‘os 33 Distillers

a ~ - Ay. gh WY 5 Fw fa 0 py bo Lon] uy Aart AL ORG Be

Ta 's

Cwens 111 GI

Pac G & Ei.... Packard “eu Paramt Piet... Parke Davis....

| Postal Tel pf . { Pub Ser 5 bpf..

Radio . .. | Republic Stl .. Richfield Oil

HH -

conv-Vacuum | Sa'east Grevh L South Pac 10 South Rv .... Se Brands P

PRIDE

Bid Ask | » | Studebaker Swift & Co

i i

com. Tl pid 2

Talcott J Tide W A Oil. Transamerica Trans & Ams Tri-Cont pf . 20th Cent-Fox .

Und Ell Fish... 3 Union Carb Un Pacific .. United Cp »f United Drug { United Frui b [On Gas Im Un Gas mp pf 111% Hoffman bi 10, 's

WwW H-G&W pt. \ { Walworth Warner Bros Fairer Br Ps El 7 pf | West Auto Sup. 26% West Pac ptf .. 2 20 ... 10% « ?%

cans

. + I %

Westvaco pf | White Mot . {White Sew M .. &% 4 Willys Overind 1% | Willys Over'd pt Hy n & Co .

a en Semi «113% 32 i 13

i Yellow Tr

Zenith Rad ....

U. S. STATEMENT

WASHINGTON, April 20 (U. P.) —Gov-

(72g ¢ Term Corp ernment expenses and receipts for the

*Ex-dividend

Ss 51

this Lal

PRIGES ON HOGS REDUGED HERE

11,650 Porkers Received; Top Falls to $8.50; Demand Is Slow.

HOG PRICE RANGE

Top cesses SRB sesssiassasaasess DOO 9.00 8.95 8.95 R.80 8.80 8.50 8.50 8.50 R.65

Receipts 4,255 T2287 10,290 3,000 11,161 10,032 7.539 12,204 150 1,500 10,425 11,650

it n 14 15 18 ciiunninnnnneninnss IT siiinnnnas I8 Liivsnniininnnnnene

Fh siieninitiiieiiii

Sess eaL satan nnen Chat banarenangannel .

Seba at saan Patan sans

Sh N LAN RRR

Slow demand for the 11,650 hogs | at Indianapolis today resulted in a deadlock in early trade. Prices | finally were established at 15 to 25 | cents lower than yesterday, the Ag- | ricultural Marketing Service re- | ported. Underweights and pigs be- | low 160 pounds had the ful] loss. | Packing sows shared the 15-cent loss. The top was $8.45 for 200 to | 210-pound barrows and gilts. Veaifers were steady with an $11 top. Heavier steers and heifers were off 15 to 25 cents in late trade. Sheep | prices were unchanged.

HOGS

Barrows and Gilts

pounds pounds pounds pounds pounds pounds

120- 140 140- 160

Dt U3 IY Ba BS NDAD DN D IS

Medium -— 160- 200 pounds Packing Sows Good #Znd Choice— 270- 300 pounds 300- 330 pounds 330- 380 pounds 3ood— 360- 400 pounds 400- 450 pounds 450- 500 pounds | | Mediums 0- 500 pounds . Slaughter Pigs

| Medium and Good— 90- 120 pounds X

CATTLE | Slaughter Cattle & Vealers (Receipts, 2109)

Gs 35353200 WI PI

wr on

“ITT

~100

Dad SON ov»

Cholce— 750- 900 pounds 900-1000 nounds 1100-1300 pounds { 1300-1500 pounds Good — | 750- 900 nounds | 900-1100 pounds 1100-1300 pounas 1300-1500 pounds Medium — 11 1300 pounds pounds

[email protected] 8.75210.00

8.00@ 8.75

Pohang 750-1100 pounds Steers, Heifers Oc

nds [email protected]

wees [email protected]

pou oon 750 pounds

Or reeot 50- 900 pounds ..

Goo Mion 200 pounds Mediu “500- 90. pounds Comm 500- 900 1 pounds

cevarenaaes [email protected] serene 10,[email protected] [email protected] 8.50

“heen

Good . Medium Cutter and common Canner

9.75% 7.00G 6.00@ 5.00@

8.75 7.75 7.25 00

: (Yearlings excluded) eel GOOR sovutnrcitennnsitnneess

Sausage~ Go od

8.00@

7.756 7.50@ 6.50@

8.25 7.75

Cutter and | common ... 7.50

Veaters

Good and choice, Common and choice. Cull

10. 00@ 11. u . 1.00@ 6.00@ T 00 Feeder and Stocker Cattle Steers (Receipts, 01) Choice

500- 800 pounds ...v.eveenes [email protected] | 800-1050 pounds ....evesenees [email protected]

Good — 500- 800 pounds [email protected] [email protected]

800- L050 pounds 8.15@ 9.50

| Mediun 1.75@ 8.75

500- 1000 pounds Commo on — 500- 900 pounds Calves (steers) 300. and eholce— Soo pounds down . Medium 500 pounds down Calves (heifers) | Good and choice— | 500 Pounds down Mediu

[email protected] [email protected]

Peas “en

sats esena

[email protected] 500 Pounds down . [email protected] SHEEP, LAMBS (Receipts, 177)

Good and choice Medium and good {Common

Good and cho oct ‘ Common and medium .

FOREIGN E EXCHANGE

NEW YORK, Aprii 22 (U. P.).—Following are noon cable rates on major eurreneies: Cable Rate. Net Chg. England (pound) .$4.023, —.00'% Canada (dollar) 882 *France (franc) .0232 Italy (lira) .0505 {Cuba (peso) . 96 Finland (markka) .0215 Switzerland (franc) .2320 {Sweden (krona) .2385 {Javan (yen) 2346 Mexico (peso 070 “ransferavie only under VU, 8. Treasury

Rr Ai THIER Mutual

ALTE XIV IRR AUTOMOBILE INLAND MARINE INSURANCE

for Careful Property Owners

at Substantial Savings

+ Wa. 2456

{current fiscal vear through April 19, com- | § pared with a vear ago: ! his Year Expenses ..$9, ie on ivy

5% Customs "285,423, 454. 43

INDIANAPOLIS CLEARING HOUSE

WAGON WHEAT Up to the close of the Chicago market

Indianapolis Bond and Share Corporation 129 EAST MARKET STREET

today. Indianapolis flour mills and grain elevators paid 82¢ per bushels for No. 2

red wheat other pades on their merit) land id 66c per bushel for shelled new | No. low corn; No, 2 white shelled | corn. » : No. 2 white oats, 33c.

FOR pd LELE

Oldest Loan

The E.

LOANS

on FKverything!

Diamonds, Watches, Musical Instruments, Cameras, AC Shotguns, Ete. JEWELRY CO, Ine.

HICAG ST.

TUESDAY, APRIL 2 1941

How U. S. Meets Tax Bill

$ A TAX RECEIPTS

PER CAPITA

(Proposed 1742 ox Receipts: $97.51

World War: $11.835

Roosevelt okes Office: $16.54

0 : lL 1916 1920 1924 1928 1932 1936 19:0 1942

U. S. tax bill for fiscal 1942 will be around $12,667,000,000 (twothirds of estimated 19 billion expenditures), and Congress mast still find ways of raising a quarter of this sum. The pictochar: shows where tax money is coming from, with internal revenue class fication including tobacco, liquor, excise and other Federal levies. Rise of tax per capita since World War is shown in lower diagram.

—

Wickard Indirectly Answers Indiana Critics of Corn Plan

Times Special WASHINGTON, April 22.—Something like an answer to the Ine diana Farm Bureau's opposition to increasing corn production, as ane nounced by President Hassil E. Schenck, has been made by Secretary of Agriculture Claude R. Wickard. : In a broadcast from Charleston, S. C., Saturday night. Secretary Wickard said he had just come from his ‘Carroll County farm nea Camden, Ind, and found the farmers there eager to ask questions re= garding the new food program. This program was announced hy the Department of Agriculture on April 3. Under this food program the Department plans to support prices of hogs, butter, chickens and eggs, over the period ending June 30, 1943. It plans to support them at price levels, Chicago basis, approximately as follows:

Hogs $9 a hundredweight; butter 3le a pound; chickens 15¢ a pound, and eggs 22c a dozen.

“These are not pegged prices and were not intended to be,” Secretary Wickard exvlained. ‘Pegged prices go neither up nor down. As a mat-|in five plants represented by a C. I. ter of fact, we don't want to have|O. union, while officials of an A. P, to peg food prices. What we do | of L. union were to meet with come want to do is to support prices|pany officials to submit their de at levels which will be fair to pro-|mands. ducers and consumers, Officials of ALCOA and the Alum“Now, what is the reason for this|inum Workers of America (C. I. 0.) food program? Let me mention the reached agreement on wage ine one big reason, first. This program |crease les sthan six hours after neis a part of the defense effort, Botiations were begun yesterday. The Britain and other nations resisting|boost becomes effective Saturday. aggression need food from the| Officers of the A. F. of L. InterUnited States. To give it to them, national Aluminum Workers Union, we need to increase production of [which represents 8000 workers in some foods. three plants, were to present the A, “Therefore, we are going to pro-|F. of L. demands for a 10-cents-ane duce more of the foods we need'hour boost {oday.

for ourselves and for the British. The biggest thing in this country today is the defense program. On its success or failure rests the fu ture of America and perhaps of the world.”

PAY INCREASE GIVEN ALUMINUM WORKERS

PITTSBURGH, April 22 (U. P.) .— The Aluminum Co. of America today granted a wage increase of eight cents an hour to its 17,000 employees

Deaths—Funerals Deaths—Funerals

Iadianapolis Times, Tuesday, April 22,

| Indianapolis Times, Tuesday, April 2 CRATER~—Lieut. Col. Harold C., of Helene and father of passed away at Camp Sheiby, Services at Flanner & Buchanan Morin= ary Wednesday. 1 p. m. Friends invited. Burial Columbus, Ind. Friends may call at the mortuary Wednesday morning

1941

AYER— Emma, beloved wife of Harry, sister of Mrs. Rose Talkington and Mrs. Belle Flora, passed away at Orange Park, Fla., Sunday, April 20. Funeral Wednesday p. m., at the residence of Mrs. Talkington, 1030 Leland St. Friends in- | vited, Burial Memorial Park.

Card of Thanks by

WENZLER Lena. We wish to express our thanks to our many friends throughout the extended illness and death of our beloved sister, Lena Wenzler. We espe« cially wish to thank Father Gootee for his consoling words: Mr. Lauck. the pallbearers and kind friends and neighSite Andrew Wenzler and Brothers and isters.

BELI—Webb C., late residence 2866 N. Pennsylvania, beloved husbahd of Kathryn N. Bell, brother of Dr. Darwin Bell of Gracey, Ky. assed AWAY Monday evening. Funeral Wednesday, p. m., at Shirley Bros. Central Chapel, ® Rinots at h St. Grave side services at HopkinsKy. Thursday. vi may eall at the chapel afte m. Tuesday. Please omit flowers, Hopkinsville papers please copy.)

In Memoriams

BRADY Lottie Florence. age 59, of 1221 Kappes 8t.. wife of W. Frank Brady, sister of Theodore 8. Middaugh of Miles Tity, Mont, and Frank Middaugh of Indianapolis, passed away at her hore Monday. Funeral Wednesdey, 2:30 p. ot the Farley Funeral Home, 1604 Ww Merris. Friends may call at funeral home any time,

BRENNAN—Anna M.. widow of the Laurence A. Brennan and mother of Brennan. grandmother of Mrs. J. Smith and William A. Brennan

ERYAN— In memory of Harvey Bryan, whe passed awav April 19, Jo3e ‘Gone hut not forgof" __WIFE “ANN C "CHILDREN >

Funeral Directors 5 “WALTER T. BLASENGYM FUNERAL HOME 2226 Shelby. = Main Office. 2 DR-2570, CONKLE FUNERAL HOME

1934 W. Michigan St. _BE-1934

FLANNER & BUCHANAN

28 W, FALL CREEK BLVD. TA-3377,

GRINSTEINER'S

1601 BE. NEW YORK PERSONAL SERVICE

HISEY & TITUS

MORTUARY 981 N. DELAWARE oT.

BERT S. GADD

1140 Prospect St. 6. H. HERRMANN 1808 8. EAST ST. — MOORE & KIRK MR-1150.

or CH-1808 _TA-6088,

SHIRLEY BROS. CO.

348 N. Illinois

USHER MORTUARY

e313 W. Washington St. ____ BE-4a8?

LC WIEON

1230 Prospect St.

Florists & Monuments

PNITEEd le

1568

late

residence, ednesday, the residence of her nan, 4530 Park Ave. rick's Church. 9 a. m. Interment Holy Cross Cemetery, Friends invited.

HARTUP—Mary D., 68 years, wife of Scott, mother of Frank and John Hartup of this city, William O. Hartup of Columbus, Ind., and Lonnie of Southgate, Cdl., passed away Tuesday a. m. Friends may call at the Jordan Yaneral Home, 1550 Brookside Ave., after 7 p. m. Tuesday. Thursday, April 24, 2 p. m., at the Woodruff Unite Presbyteflan Church at 12th and Arsenal. Friends vited, Burial Sutherland Park. (Noblesville papers please copy.)

HOFF-—Robert Allen, 5530 N. Illinois 8t., D. and Julia LamEarl M., departed age 23. Numeral at the Moo

R1-5374

Wednesday. Ap 23,

& Kirk Northside “Colonial Mon UALE "Col lege at Fairfield lh 30

a . omas Apul nas Church 46th and _ THinois, 1 m. Burial St. Joseph's Cemetery, Friends invited.

NORDSIEK- Fredrick, 93 years, husband of Charlotte Nordsiek, father of Mrs. Albert H. Schroeder, Mrs. Louis Mount, Henry and Fred Nordsiek, passed away Tuesday a. m., funeral Thursday, . at the G. H. Herrmann Funeral 1505 S. East. Friends invited. Concordia. Friends may call alter 6 p. m. Tuesday.

__DR-u4T

beloved

LI-5409

ROBINSON—Sanford H., 3931 Broadway, husband of Alice Elliott Robinson and father of Mrs. Ray L. Green of Connersville, Ind., passed away Tuesday morning. Service at Flahney & Buchanan Mortuary Thursday, p. m. Friends invited. Cremation ag Friends may call at the ‘mortuary any time. Please omit flowers.

DR-0323.

DR- -0321.

SHOULTS—Maudie E., Monday, age 39 years: Shoults, daughter of ¥. rles A. Cox, sister of Mrs.

entered into rest wife of Cecil

2922 N ak

Lost and Found

GENTLEMAN'S yellow gold Hamilton wrist watch with clear glass strap, between downtown and Gray St. Liberal ree __ Ward. WA-T7528.

LOS ST — Lady | Elgin wrist watch, yellow gold, between College and Park 12th St. Reward Keepsake. __LI-5075 KAPPA Sigma Fraternity pin: initials W. S. P. '-8. Reward. MA-2506 or LI 9837.

LOST—Lirht tan, part cbc +black ears, short tail. tan ha god license. Name Ski . Rew. -1534.

ir Wanted-—Female

per Service Thursday. 10:30 a. W. Moore Peace Chapel.

ington Park Cemetery,

STORM-—Carrie B. Ellis, 28k hi y Joved motaer of Mrs. em, Willis and Mp Nel fe Storm, grandmother of Paul Clem, Mrs. Herbert wder, Mrs. Frank Haupt, Ward Storm

m. Burial ¥ Jarry

ears, be-

m, at pe TERY near Burial Ash Grove Cemey. Friends may call at Shirley Bros. Central Chapel, Illinois at 10th St., from noon Tuesday until 10 p. m. Tuesday.

WILLIS—Perry E., 53, beloved husd r of Willlam of ne, Iburn of Shelby X aymond of city, MIs. Vielett, of ‘city and Mrs. Ve Abl land, HEN LE Bases saay, ABHY nga. nera

Me Maver

age cocker and collie;