Indianapolis Times, Indianapolis, Marion County, 23 April 1941 — Page 16

"PAGE 16

BUSINESS

Steel Industry Is Proposed for Western Part of United States

ee —— ROGER BUDROW

THE STEEL INDUSTRY IS NEWS THESE DAYS. Early in the rearmament program it was claimed in some quarters that this country didn’t have enough capacity for . making steel. The steel companies said that wasn’t so and the Gano Dunn report for the most part bore them out. Then labor came along and wanted 10 cents more an hour for work in steel mills and got it. The next day after the steel industry had fallen into line on the wage increase, the Government froze steel prices, preventing the steel makers from passing on to the consumer (mostly the Government nowadays) the added cost of this wage increase.

The price-freezing, however, may be only temporary. The shutdown in the coal mines ——

resulting from a deadlock between miners and the coal companies is STATE BUSINESS

beginning to cramp the steel wy ability to tum out their — Already some blast furnaces in the Pittsburgh district have shut down. Yesterday l. came another piece of steel] news that has; great possibili-| ties. Henry J.! Kaiser, the West Coast industriRoger Budrow ,)ict who has been startling business circles re- 3 cently with his vast undertakings tion contiflued to set new records. (Bonnevilie dam, shipbuilding, ce- Indiana University’s Bureau of ment), asked the President for help Business Research reported today. in building a $150.000.000 steel in- Th a b 5 a& dustry in Utah, Southern California e rapid rise in business as 3a and Bonneville power area. whole halted in March, He wants to build a pig iron plant reau explained, because more and at Mount Pleasant, Utah, utilizing more industries are reaching the ore deposits there; a high grade practical limits of their output and Stes) dh at SolinevI le, making can’t produce any more until new steel from scrap by using Bonne- factories are ready. ville's Government power, and a, But business kept up at its major mill in Southern California. “boom level . . as huge amounts using pig iron shipped west from of defense money poured into the Mount Pleasant and utilizing both state, increasing pavrolls of endBe a Slee lei In a new process jess industries both large and Steel proquction. small.” The OPM immediately sent a man out west to look over the idea. If it Led by Ses uoeh, it will mean the West azfost spectacular along the InSua re become more of an N° diana industrial front were the steel oS pecchon ian me 3 mills of the Calumet district whose business exceeded even the recordHeh Setabliclied steel oS in breaking volume of February. Durlanas Calumet area, the tHe ing the last two weeks of March Ruhr” section of Ohio and the big and the first two weeks of April Pittsburgh and Alabama districts. go Eu northern Indiana and Illinois mills . . were operating at 101.5 per cent of N! N - : . ana, BA) - BS Coie po capacity. Production for March Pp bec was more than double that of draft but also because Sply ees March last year. Be Tee Loans py DIC 3¢ requirements were Bankers’ Association is asking its placing 21 EFGASIE Stam on the he : BD SL 8 'S steel industry and the situation members to um In names Of Per- goo further aggravated by the sons who would like to Work In a tiontness in supplies of some stratebank because “numerous inquiries of gic materials.” the Bureau said. | a re -or-less A Datu ‘Labor difficulties in plants furBO 5) foheiven Nis bi oq » Dishing materials for steelmaking ginning beco a were responsible for some of the A NEW {YPE .. a : se Searey in ng The steel of field gun is - mills were so busy that some were | ing manufactured in the Hammond refusing to add new customers to piant of the Pullman-Standard Car their books. Manufacturing Co. It is the 105 mm howitzer which is to replace the famous 73s of the last war. This Anticipating a shutdown in coal | plant is already making tanks for mines, a wave of buying began the the British and U. S. trench mortars last two weeks of February and of the 81 mm. type. Soon they will continued throughout March, liftbe machining 155 mm. U. S. shells. ing coal production to the highest "a & level, with the exception of only ODDS AND ENDS: Country grain one month, since 1927. Indiana elevators may work employees up to coal production usually declines in 12 hours a day (36 a week) without March but this year a 20 per cent paying overtime for 14 weeks a year, 33in was made instead the Bureau

Wage - Hour Administration has reported. : ruled, but flour mills elevators and Defense contracts awarded in cash grain commission merchants Indiana during March amounted | were denied such exemption. to $11.600.000 compared with $2.Some Canadian newspapers are 000000 in February. Building con- | urging that the Canadian tariff tracts were several Umes greater against British goods be lowered than for any month in the Bufurther. at least for the duration. reau’s records but more than half} _ . Haiti is expecting to plant vast Was centered in the several defense rubber plantations, according to areas of the state. President-elect Elie Lescot. ! A Car Sales Up World sugar consumption in the | year ending Aug. 31, 1940, was 305! “New car sales were much ahead pounds per person, according to a of Feb: uary but largely because ol survey by Lamborn & Co. sugar the inability of many dealers to| brokers. Lafayette employees make deliveries. the increase was | of Aluminum Co. of America will Somewhat less than the usual exreceive a l10-cents-an-hour raise pansion in March. Stimulated by

U. Reports Raptd Rise Has Halteq, However, In Indiana.

General business in Indiana during March was about the same as in February but industrial produc-

Calumet District

Anticipated Coal Shutdown

MAYORS PROTEST Times Special WASHINGTON, April 23. —May- | ors of 10 cities in the Tenth Con-| gressional District have sent letters and telegrams to his office setting

under an agreement signed vester- increased consumer income and | day for all the company's plants the approaching Easter holiday | in the nation. season, newspaper advertising was the highest in 10 vears with the exception of December, 1940. BRITISH RE UISITION “Bank debits were larger than in anv month for which figures are available. Department store sales MORE U S STOCKS increased about the normal amount ! I for March. even though the Easter v il Seth __ buying season extended well into eo oo re apd tts Jar. fovwram holdi y of 164 additional Amer- Industrial employment was three ish INES ¢ '€T- ser cent higher than in February fcan securities issues have ben ,.. og per cent above a vear ago. requisitioned to help finance Brit- pa. jncome from the marketjams war purchases in the United joc of livestock was practically Ales. unc the income The requisitioning order included a ~ Sher Foon oe ee Enon Co unless Oe clined. Farm prices, as measured | esignated Aluminum 0. OI py th au’s index were unAmerica; Baltimore & Ohio Rail- RAE Bere oy - road: Bendix Aviation; Cities Servjce Co. common and $6 preferred; 7% Payroll Rise Here Bleetric Sani} Toe T Grant: Regsrding Indianapolis, the Bu-! : Seay reau Fopowiey a 4 r cent rise in| ois - 15 a arch 15 and a 7 tional Paper & Power; Libbey- per cent rise in payrolls, 2 Non-man-Owens-Ford; P. Lorillard; Monsanto ufacturing concerns increased emChemical; National Biscuit; Na- ployment 3 per cent and payrolls tional Power & Light; Ohio Oil; fractionally. Phelps Dodge; Republic Steel 6 per’ Bank debits rose 21 per cent, cent preferred; Shell Union Oil about 7 per cent more than the Standard Brands; Standard: Oil of ysual Februarv-to-March increase Indiana: United Gas Improvemeni. and were 31 per cent above March William Wrigley Jr., Co., and last year. Newspaper advertising Youngstown Sheet & Tube. lineage was 24 per cent above Feb-| PsLY and 5 per cent above a vear | DAILY PRICE INDEX = NEW YORK. April 23 (U. P).— Postoffice receipts, after expandDun & Bradstreets daily weighted I 6 per cent, were still fractionprice index of 30 basic commodities, ally below a year ago. Livestock compiled for the United Press (1930- Ieceipts were 5 per cent above 32 average equals 100) February, 8 per cent above a year Yesterday . 128.62 ago. Building permits totalled $1.Week Ago 129 67 317.820, fourth consecutive millionMonth Ago . . 128.45 dollar month. There were only four | Year Ago _ 121.50 million-dollar months last year. 3941 High (April 17) ........ 12983 1041 Low (Feb. 17) 123.03 WAGON WHEAT 0, “Soi eastc “not hls Sd rag elevators paid 81c per bushel for No. 2 red wheat fother grades on their merit) id 66¢c per bushel for shelled new | yellow corn: No. 2 white shelled 70c: No. 2 white oats. 33c.

| trial curtailment if the coal shutjdown isnt settled soon, Rep. Raymond S. Springer (R. Ind.) de-

{SH IN A FLASH clared.

lL LOANS

) Months to P-A-Y

I BROS.

ANA

(

CAPT HEADS CENSUS WASHINGTON, April 23 (U. P)). —President Roosevelt ‘nominated James C. Capt to suc-

of Census. Mr. Capt has served as an assistant to Mr. Austin, who after the regular census was year, x

the BuCc

i Kress

| Lockhd Suan Ion Ww Bis ...

{ Merch &

i Omnibus

picense

| forth the serious danger of indus-!

ceed William L. Austin as Director |

Indiana Coal Output i

THE INDIANAPOLIS TIMES

in March

1933 1934 1935 1936 1937 1938

above February, was 54 per cent above a year earlier.

1939 1940 1941

Anticipating a shutdown in the coal mines, a wave of buying began about the middle of February, lifting Indiana coal production to the highest, excep ting only one month, since 1927, Indiana University’s Bureau of Business Research reports. Instead of the usual decline in March, production rose 20 per cent | April

N. Y. STOCKS

By UNITED PRESS

DOW-JONES STOCK AVERAGES 30 INDUSTRIALS

Net Last Change |

High wll. Sa ; 137 46

—.28 40.81 -—0.08 -0.48

1, Yesterday

Adams Exp .... Va Allezh corp. A = 1s Month Aro 's Year Age Hich, 1941, 133.59; Low, 115.78. High, 19490, 152.80; Low, 111.84,

20 RAILROADS

“un 1 3s Yesterday Ya Week Age Month Age Year Ago ..... High, 1941, 29.75; “Low, 26.54. High, 1940, 32.6%; Low, 22.14. 15 UTILITIES

inc jrigour n .... Atchis

Atl Refining.

Balt & Ohio 3, Barber Asphalt 9} Ben Ind Loan pf a2 Beth Stl 3s 4 Tei Ta ny | Yesterday Week Ago . 15 Month Age Year Ago .. High, 1941,

_Righ. 1

Bond Stores ... | -8.03

Callahan Zinc . -—0.0% | Canada Drv Can Pac V Carpenter Stl.. Celanese . Serre de Pasco Certain-teed Hh & ‘Ohio . Chi Yel Cad Childs Chrysler

” a »» » ow

+0.09

BILO00 pe “1D ad Ld rt

20.65; Lew, 18.0%, 1940, 26.45; Low,

ERE

LW ONIINS ee ER EL ad

- - Now NeEBN

High

Penn RR “w. 23's Pere Mat pf ... 29 Pet Milk 227 Pt . 24%

Oraare 1

DAI D Br

. . Us Ly Coppernms Bak A . t Bak B .... Can Mot . Oil Del .. Coty Inter ..... Crane Co Cudahy Curtiss-Wr

Radio-K-Or [Rem Rand {Repub Sti RvnMet cuevol Reyn Tob B

“ene

1 Y 3g! Savage Arms .. Sears Roebuck Sharon Stl .... Sheil Un Oil .. Soc-Vac .e !South Pac 1. South Rv . 8 iISouth Rv pf Std O Cal St td Oil NJ 1, Sterl Prod . 8 | Stokelv Br .... Studebaker .... Suverhtr Syming-Gid ww

D Lac & W .... Du Pont

Eng Pub S .... Equit Bldg Fairbanks pf Gen

Gen Gen

Electric .. Foods ... G&E A Gen Motors . Gen Rv Sig .. n Rty & T Gillette Ago! “n

Gt Xi Gu

Ys | Texas Corp Texas Gu Prod Tex Pac L T.. Timk-D Ax ... Timken R B Trans & Wms... Truscon Sti

LISI yy

PEND em DHE a

1 Ta

CA on vt 1

SY ~ Nw ” '

Bomestake Househd F .. Houston Oil Hupp Motor II' Cent pf Intetlabt n

ds WHw

Union Camb “inn { Un on

. » on wd Gg Fores

PHAR

S Realty .... J S Rubber J § Steel ..

EWS DT

Prats

Int P&P »f

Johns Man .... I Vanads

ilcan Det rhe ©

% Kan C Sou .... | Kennecott Kevstone Kinney

i lw Wabash pf A.. Warner Bros .. rE Pa Ppl s | West Union West Air Bke.. Willys Overlnd Wilson pf

thy 221, 24%

8nw oa

Kroger G&B .. 24'2

— “1a 20

« 3% CY 132

18% 163

L-O-F Glass {Lig Carb

Young Sheet

. STOCKS

Loft Va

Lorillard

IRREGULAR IN LIGHT TRADING

NEW YORK, April 23 (U. P.).— 14 The stock market moved irregularly * | today with trading light. Near the (end of the third hour. small gains 14 and losses balanced each other. Zi.1e| The list, still sensitive to war developments, was sustained by firmness in railroad shares, which re's sponded to outlook for a rise in car {loadings after several weeks of de*1, cline and to high March earning s \now being reported. .- Steels turned down after a rise —— {just before noon when Bethlehem [wa as up more than a point. The lat- | [ter lost nearly all the gain while 0. ol Ser) slipped back to a small

. 24% . 26'2 «. Gla . Ji

Mathieson Min Miam: Cop Midcent Pet n Hny

mMmn 5 Monsanto pf A. 1 |

b.3 Nash Kelv Nat Biscuit Nat Dairy Nat Tea -e Newport Ind “us N Y Central

NY? can 3 NYNH&H pf

Otis Steel

Packard .“ Pan Am Airw.. Paramt Pict .. Para Pict 2 of Park Utah ..

NEW GAS FIRM AT

[close and chemicals were steady.|

Oils were little changed and coppers

(U. P.)—PFollownoon cable rates on major cur-

Cable Rates England (pound)...... $4.02'; Canada (dollar) ipance (franc) lira) Cuba (peso? Finland markka) Switzerland france) Sweden (krona) Jahan (ven) Mexico (peso) XTransferable only under v

Net | Change | 00 — 00% 0001

BRAZIL, Ind, April 23 (U. P). held minor advances. Loew's was | —Attorneys for the Terre Haute a strong spot. Eastman Kodak lost [Sas Corp. today prepared to plead [2 points to 124. onday in the injunction suit] brought against the newly-formed a utility by Mrs. Lenore Johnson, Thinnest Plate Terre Haute housewife. . The complaint, venued to Clay | Circuit Court from Vigo Superior | Glass Developed Court, seeks perpetually to enjoin | the transfer of Brazil and Terre. BUTLER. Pa, April 23 (U. P).— Haute properties of the Indiana The world’s thinnest plate glass— Gas Utilities Co. to the defending three sixty-fourths of an inch corporation. thick. or half the thickness of the Judge John Baumunk yesterday | thinnest plate glass previously refused to strike out certain parts known—has been developed by the | of the complaint, which avers that | Franklin Glass Corp. at its Clearan order of the Indiana Public |View plant near Renfrew, it was Service Commission granting the announced today. { sale ‘was made Jan. 2, 1941, and/ A. L. Pasquier, general manager, dated Dec. 31, 1940. It charges the Said market for the new produat order was obtained by fraud and Will be for sun glasses, civilian gas should be held null, void and un- Masks and airplane windows. He | | law ful. |claimed the new laminated shatter- | Ne glass will reduce the fiying | FOREIGN EXCH ANGE weight of trans-Atlantic clippers hy £ ¥ 13165 pounds for each 100 feet of NEW YORK, April 23 ‘glazed area. ing are ny 3 INDIANA BANKS PAY FINAL DIVIDEND £2 WASHINGTON, April 23.—Three + insolvent national banks in Indiana have made final dividend payments the Treasury reported today. Treasury | The City National Bank, Goshen, | | disbursed a total of $1,038,486 or 8 $1.68 per cent to depositors; Second | { National Bank, New Albany, £1924 -|

U. S. STATEMENT

WASHINGTON. April 23 (U.P. — Go Ce nment expenses and receipts for the rrent fiscal vear through Avril 21 com-! Princeton. ed with a vear ago:

| ples-American National Bank, ! $981 47 or 78.16 per cent.

aed

—aat!

" taled

| American Loan

BUILDING HERE SHOWS BIG GAIN

First Quarter 212 Per Cent Above 1940, According To Dodge Reports. year construction contracts awarded

in the Indianapolis metropolitan area were 212 pep cent greater than

{in the same period last year, ac-

cording to Dodge reports.

000 last year. taled $2.429.000 this year compared ' with $1,075,000 last year. Residential- building contracts to$2911000 for the three months, a 159 per c¢ent gain over

the $1,123,000 in 1940. March resi- Good

dential building reached $1,523,000 compared with $678,000 last March. . Non-residential building contracts

‘%|in the first quarter totaled $2,549,- |

[ao compared with $603,000 in the , first quarter last year.

2 roigen compared with $331,000 in

March, 1940.

Engineering construction by ov. ernmental agencies and by utilities | amounted to $797,000 in the first

(three months, an 187 per cent in-

}2 crease over the $278,000 in the first | 900

= |

* | quarter of 1940. March contracts were $49.000 compared with $66,000 { March, 1940.

Casualty Adjusters Elect Officers

New officers of the Indiana Cas-

‘ualty Adjusters Association are Jos- | jeph G. Graham, Travelers Insur-, {ance Co., president; Edward Becker a

Jr, American Auto Insurance Co. vice president, and Maximilian W.| |Hofmeister, General Exchange In- | {surance Corp., secretary-treasurer.

Discuss Electricity

i: In Steel ‘Industry

N. C. Pearcy of the Public Utility !

Engineering and Service Co. Chi- | cago, will discuss “Electricity in the Stee] Industry” at the A. I. E. E. eting at Hotel Warren, 6:30 p. m. | Friday.

150 Aetna Agents Meet Here Friday

Approximately 150 Aetna Casualty | & Surety Co. agents in this regios. ©

{will meet at the Indianapolis Athletic Club Friday for an educational | conference. Speakers from the! {company’s home office in Hartford, |Conn., include C. G. Hallowell, vice Ipresident, and field supervisors R.

{C. Larson, Amos Redding and H. W. Me R. C. Griswold of

| Ellis. Manager {the company’s local office is spon|soring the meeting.

LOCAL ISSUES

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

gi held around the previous | recent transactions.

Bid ” Ya

Swocks Su

Agents Finance Co. Inc, Agents Finance Co. Ine. Belt RR & Stk Yds com. {Belt RR & Stk Yds pid {Central Ind Pow 7% {Comwlith Loan 5% pid Hook Drug Inc com 1 Home T & T Fu Wayne J% id 50 Ind Asso Tel Co 3 or Ind & Mich Elec 7 pid Ind Gen Serv 6% pf .- pfd

com

111%

/o Indpls Gas com Ind Hyaro Elec 7 Indpls P&L 5'%% Indols P&L com Indpis Water 5% .e Lmcoln Nat Life Ins com Ind Pub Serv 5:7 bid . N Ird Pub Serv 6°; pfd .. N Ind Pub Serv 77, pfd... Progress Laundry com Pub Serv Co of Ind 5% inl Pub Serv Co of ue 1% pe. . *So Ind G&L 48 Terre Haute Elec. ‘8% pid. . Union Title Co com Van Camp Milk pfd Van Camp Milk com Bond

5:5) ...ovcnen American Loan 5s 46 Consol Fin . Citizens Ind Tel 4%s 61 .....1 {Home T&T Ft Wayne 5'%s . |Crabb- ~ReYholds-Taylor 5s 42. Home TAT Ft Wavne 6s 43. Ind hssot Tel Co 3'%s 70.....1 Indpls P & LL. 3%s_ 70..... Indpls Railway Inc 5s 67. | Andpls Water Co 3'%s 66 .. . komo Water Works 5s 53 . Boku Packing Co 4's 49... Moris 5 & 10 Stores 5s 50 .. --10¢ { Muncie Water Works 5s . Nat Shik Hosiery 5s 42

s 50

107% 109%

103 103 100 1091 1081; |

103 107% | kt

Bub yy i 2) 4s 69 Ri hy 412s 55 mon Water Wks 5s 87. rae i K Corp 5s $7 *Ex-dividend.

JAVA SUGAR EXPORTS RISE NEW YORK, April 23 (U. P.).—| 1Java exported a total of 68.349! {short tons of sugar during February, an increase of 23565 tons or 526 per cent over the

100 104%

& Co., sugar brokers, reported to-| day.

This Yea Last Ye r Expenses $9 716.438. uy Ta 7.7 2 Receipts 5.645 265.133.16 Gross def. 4.071.193.208.03 Net def 73 ; So bal. K'g hal | Pub. debt 4 | Gold res. | Customs

2 1.860.5 7.170. 33%. 18 6 22.457.264 127.73 297.€25.260. 25.260.06

INDIANAPOLIS CLE CLEARING HOUSE Clearings $ 3,335. | edits

LOCAL PRODUCE

Heavy breed colored hens. 17c: colored hens. 13c: Legh horn hens. 13¢ Tens. springers. -3 lbs. over, 20c: hite and Barred Rocks, volored breeds 19¢: cocks,

es—1 Butter 1. 351%.@36¢c: No. 2. 34@ 34zc. ‘Butterfat—No. 1, 32¢; No, 2, 30¢.

(Farm pickup prices quoted by the Wadley Co.)

The Hoosier Gas Corp. of Muncie today filed its first report of operating conditions since the Public Service Commission approved a rate increase Jan. 24 for customers served in Pike, Knox, Daviess and | Gibson counties. When it approved the higher rates, the Commission specified that the corporation should file reports of its condition. The corporation informed the,

No. 2 No. 2 and 2le:

LEAVES $3,500,000 WASHINGTON, April 23 (U. P).

{left by Irwin Boyle Laughlin, for- ° mer ambassador to Spain and grandson of the co-founder of the Jones & Laughlin Steel Co. The estate goes; to relatives. Laughlin!tom

the general financial ed aactieally

Company engineers are cin

_! Rate Increase Helps Muncie Gas Firm Defray Higher Costs|;

ing their search for cheaper sources of gas supply and are plan-

ning a maintenance program tol}

cope with heavy line lasses of gas, e report said. The petition for higher rates was filed Sept. 4, 1940, on grounds that the exhaustion of gas supplies in

| th

Indiana had forced the company |mat to purchase gas from the Kentucky 1

| Natural Gas Corp. at a higher cost. | Unless rates were increased, the company contended, it would have

The increased rates were contested by the cities of Princeton, Vincennes and Washington and by

no loss of cus- representatives of rural consumers |; in Pike; Knox Daviess and ‘Gibson |

counties.

In the first three months this

The total amount, according to | {Thomas E. Toll, Indianapolis man- | jager of the building reports service, | was $6,257,000 compared with $2,004,- | March contracts to- |

March non- | «| residential building was valued at |

107% | 84

cor- | |246 or £753 per cent. and the Peo-|responding 1940 month, B. W. Dyer Lethe

Government

RISE 15 CENTS

Top Advanced to $8.65 Here As 6256 Are Received; Vealers Steady.

HOG PRICE RANGE Top ..59.00 9.00 8.95 . 895 8.80 R.80

| { Recetnts | 7.23% | 10,290 | 3.000 11,161 | 10,032 | 2.539 | 12,294 | 1150 | 1,500 | 10,425 | 11,650 6,256

LR ST 11 .... 12 14 ..... erences 18 covnen 18 ...... 17

April | April | April | April April April April

Sesser ssnean

“esse sgastensaanene cane trast sanan

| April April 1 April April

Sesser nrenstnrene

Sessa nanti raat enn

Most hogs sold 15 cents higher | than yesterday at the Indianapolis | stockyards today, the Agricultural | Marketing Service reported. Weights above 160 pounds shared | the increase but hogs weighing 160 | pounds or less did not change in | price from yesterday. The top was $8.65 for good and choice 200 to 210-pounders. Vealers were steady with an $11] top. The marketing service re-! ported 911 salable cattle were received, 505 calves, 6256 hogs and 48 sheep.

George S. Olive, Indianapolis | accountant, has been appointed a member of a special panel of attorneys and accountants to advise the War Department on the amortization of defense industrial facilities.

EL RAILWAYS ~ EARNINGS RISE

Report Boom Has Added Little Business, However.

The boom in employment at In- | dianapolis plants engaged in de-

HOGS

Barrows and Gilts 140 pounds

| 8

23.00 9000 = 3 22v23 SSIS hh

240 pounds ... 270 pounds

oso 2 rbot OL NOON NEES

Crow OL

300 330- 360 pounds Medium — 160- 220 pounds Packing Sows Good and Choice— 270- 300 pounds ~ 330 pounds 330- 360 pounds

oo >»P>»® 2000002000 ~3 a wowed

360 60- 400 pounds 400- 450 pounds R po 00 pounds ........ cane gy S00. pounds Slaughter Pigs

nd Good— pounds

CATTLE

Medium a 90- 120 7.15

Slaughter Cattle & Vealers (Receipts, 911) fense production has meant little or | of additional

nothing in the way |business for Indianapolis Railways, | Inc., the utility's 11940 revealed today.

ico 750- 000 pounds 900-1000 -ounds 1100-1300 pounds 1300-1500 pounds ....

$11. T5@13. 25 [email protected] | [email protected] | . 11.50@ 13.00

0daail-T led out, the Allison warplane motor | 10.00@ 11.75 | [email protected]

750- 900 ~ounds .... -1100 pounds | 1100 1300 pounas 1300-1500 voynds .. | Med dium — 750-1100 pounds LI 1300 pounds Common 750-1100 pounds

Steers,

[email protected] |

Heifers

[email protected] | has been » 10.00@11. oo | PASSENgers a day. However, net earnings of the com|pany, after allowance for taxes, «+.» [email protected] preciation and all interest charges, |

| 300-7 750 pounds \ 500 "750 pounds

Cheice750- 900 pounds

Good750- 900 pounds | Medium — oN. oy pounds

aw [email protected]| SF ,147 over the preceding year.

wena T50@ 2)

Gross Income Rises

Gross income, $4,343,891, 5 51$77,000. Operating expenses 0 $2,937,146,

@ 8. 3 9 n 1

[fect May 1, 1940, under a con Beef— 8.50 This increase in wages and in paid | 8.35 vacations will cost the utility ap-

o ne 3 3h | proximately

| Cutter and common ... Vealers Good and choice. . Common and choice {Cull

$93.000 more this year | (than for 1939, the report states. The operating revenue breakdown hows trackless trolleys bringing in ?| the heaviest revenue, $1.762,409, an | increase of $45,635 over the preceding year.

| Ree | . 00- 800 rounds [email protected] | Next came streetcars with almost a gain of about

200. 1050 POUNES sovessusraness [email protected] | ¢1 500.000. . 9.50®10.25 Motor coach wer 9:[email protected] yp almost $60,000. The total trans- | 8.715@ 9.50 | portation revenue figure, $4,060,122, 7.75@ g.75 represented a gain of $100,000.

10.004211 00 | 7.0042 9 30 s 6.00@ 7.

Feeder and Stocker Cattle Steers (Receipts, 503)

00d - | 900- 800 pounds | 800-1050 pounds Medium 500- -1000 pounds Com | 500- 900 pounds

Calves

Guo . ana choice— 500 Sownds down

(steers) Cost of Materials Up

vse. 10. [email protected])

[email protected] rental from the Traction Terminal] | Building and stations.

diu 500 un nds down Calves (heifers) Good and choice— | 500 pounds down

Medium-—

500 pounds down | SHEEP, LAMBS

[email protected] | slice out of revenue. [email protected]| jong term debt totals $10,904,000. (Receipts, 48) f. Among the serious problems fac-| ling the utility, the report states, are [email protected] | «

[email protected] | 8.00@ 9. 00 | terials an

Good and choice Medium and good ............

Common d labor, and the increas-|

Ewes (wooled) | Good and choice

5.50@ 8, je les in Marion A ih | tered private automobiles ix

oes { County and 400 taxicabs in Indian-

CHICAGO LIVESTOCK | | apolis.”

IE Sy JA, mse ped WHE AT LE ADS 1S OTHER GRAIN PRICES LOWER

SOWS; Sood oy choice 180-240 os sat Sle 8.80; 8.85: 240-270 ibs, 27 0-330 he [email protected]; 160- 80° “55 a0 #8.75; good 400-500-1b. sows, [email protected]; CHICAGO, April 23 (U. {| Wheat futures on the Board of Trade trended lower today. Other grades, $9@11 75: strictly choice long grains followed the bread cereal lambs closed

stee

lighter weights to $8 and above. Cattle—Receipts, 8500; valves, 800: | and yearling trade more active; ili | ! quality improved; market strong. 10 to 15 cents higher: shipper HP broader: market on weighty dressed beel still very sluggish. however; more cattle sold and bids more numerous than Tuesday even on weighty steers: numerous loads, [email protected]: bulk all weights and yearlings. $13 50. some held higher: HH with rye and soy hen contracts eral loads long vearlings turning at st 10sS. @12; fed heifers fully steady: orime ofier-] showing the greates i fi 1 ings, $12.50; bulk medium to strictly good At the end of the first hour, | heifers. $9.50@11: cows, 15 to 25 cents low- | wheat was off 3% to 1 cent, May { er; bulls steady to weak: vealers steady! ri 12 5 | at’ $11 down: few weighty cutter cows 887:c. Corn was off 1s:'to % cent, above $6.25. heavy sausage bulls to $8.35; | oats off to cent: stock cattle steady. , 1 p — Receipts, 6000: late Tresday: 1% to 1': cent! and soy beans off | mostly steady to|1ig to 1% cent

few selected loads to shippers 15 shorn offerings dull; [email protected]; shipper

SHELL OIL PROFITS

| strong; several loads around Ro | SHOW A DECREASE

woied Westerns. $10. -33¢@10.50: ee light - weights he up to $10. an > rl | above: little done earlv on shorn offer-i NEW YORK, April 23 (U. P).— | Ines and ewes: undertone weak on both | shell Union Oil Corp. and subsidiclasses. : |aries today reported first quarter Inet profit of $3,621,794 equal to 28 cents a common share compared

OTHER LIVESTOCK with $5,314,158 or 37 cents a share

CINCINNATI, April 23 (U. P.) Hogs Receipts, 2750; market fairly active, 15¢| good and choice in the corresponding 140 period. 240-260 Ibs. 18.10: | Gross sales for the quarter

{ higher top. $8.70 180-220-1b. butchers; 300-350 1bs., $88.10 on and good 140- amounted {o $62,990,646 against a - year earlier, while

| 260-300 lbs. $8.25 180 Ibe. 76508: 100-140 1bs.. $6.40 7.25; -1 8 7. | most ood packing sows. [email protected]. | $67, 006,321 mid- | costs, selling and general expenses

| 160 1bs.. $7.65@8: | Cattle—Receipts. 525; calves. 300: | yy smail, rn geod | {were $47,044,710 against $49,120,655 | Good s0.1b. A ee 1 a | last year. i good Provision for depletion, deprecia-|

steers, 811 and part load common to 1 ! tion, intangible development ex-

for

PERFECT CIRCLE CO. LEASES MACHINERY

Times Special

WASHINGTON, April 2..—Federal Loan Administrator Jesse Jones today announced a lease agreement with the Perfect Circle Co., Hagerstown, Ind., to provide $208,850 additional machinery and equipment for the company’s plant. These facilities will be used in the manufacture of airplane parts. The title will remain with the Defense Plant Corp. and the machinery and equipment will be leased to the Per--|fect Circle Co.

$4,000,000 IN ORDERS PITTSBURGH, April 23 (U. P.).— Westinghouse Electric & Manufacturing Co. has received orders for electric

medium. $9.75; Tost And moderate) By. J moderately - - A: zou and Chote 59.50 [email protected]; com- | penditures, etc, was $10,569,959 mon and medium Frc 100: 50, week supply | against $11,019, 223 in the previous! lizht oul Co around 73-Ib. ipped | year. Abe wea 2 Ll um to Federal income taxes was placed! choice springers. $114 13.50; 68-70 1b, $13 | and above: choice offerings under 60 Ibs. | at $5,375977 against against 36, 866. 444, salable at $14 or above: wooled lambs an nd | Te scarce. FAYETTE, April 23 (U.P). — Ho eh 100 20¢ his gher, 8.50: 200-250 Ibs., [email protected]: Wi SN down; rough $7. 1 own. Calves, [email protected]. Lambs, 510

ril 2 (O. Pp.) —H $8.50; 180300 58 30; 220 1bs.,

300-350 1bs. hind Ibs 0 lbs i ay bs. Ss, $6. , $10@

sere BASE Cc er; Ibs.. $8 160-180 Ibs A 15;

10.25; TB lambs, $8.

FOOD PRICES

CHICAGO, 1 23 (U. P.). ITH es Michigan Jona ans, bu., 80c@$! atoes— Mexi $3.50@5. Spinach— Illinois, bu., 7. Carrots _C me Gali

( hts

ts sacks) i Ha consin Yellows, $1.05

Incorporations Mile Builders & Mat 1614 Broadway. Gary: Cc, Sa

Onions dows [email protected];

DNESDAY, APRIL 23,

(COAL NEED HITS

Sav. Erployment fense business is

annual report for | As an example, the report point-| |Plant last year increased its pay{roll from roughly 800 to 10,000. But [email protected] because most of the workers, some {of them living as much as 50 miles | 8.00@ 8.75 away, drive or ride to work in autos,

|business of the utility to the plant] “hardly more than 200

10, 00@ 11.00 @MoOuUnted to $75,707, an increase of |

|agreement recahed March 12, 1041.

$4700. | revenue, $798,000, was|

‘the upward trend of cost of ma-|

'ing competition of the 118,000 regis- |

Pp.) — Cuyahoga Falls near

rye off

+ Income before interest and

941"

STEEL MAKERS

{|Loss of - Production Now

Inevitable, Iron Age Declares.

NEW YORK, April 23 (U. P,) — The steel industry faces further production losses as a result of the bituminous coal shutdown with the result that unfilled tonnage at mills is piling up, the Iron Age magazine said today. “Whether the (coal) miners go back to work this week or not, further production losses are inevitable as it will take some to get, back to the 100 per cent operation that prevailed in March,” the trade publication said. “Ten or more blast furnaces have been banked or blown out while others are operating on reduced blast. The loss of pig iron has brought curtailment of steel making.” 96 Per Cent Rate

This week's steelmaking rate was placed at 96 per cent, off 21% points from last week. Compared with the 100-per cent .rate in March, it was estimated that more than 54,000 tons of ingots and about 38,000 tons of finished steel have been lost this week “at a time when every ton of steel is urgently needed.” Adding to the bacaklog problem, the Iron Age said, is the fact that new orders continue to flow in at a greater rate than shipments. “It is the opinion of the steel trade that the 20 per cent curtailment in. automobile production starting in August will not he much help unless it is apportioned jon a monthly basis,” the magazine | pointed out. Meanwhile, it was said that direct and indirect deestimated by (some mills as high as 80 per | cent of their total incoming orers.

Study Costs

Steel companies are making | studies of the effects of the recent, [Vase increase on costs and earnings in connection with the Gove |ernment’s action in freezing prices, and “in. due time the results will | be presented to the Office of Price | Administration with requests for relief,” the periodical stated. “It does not seem likely that a horizontal price increase will be advocated, but that situations which exist in certain products will be the basis for an appeal for permission to make price adjustments.” Export business in steel was reported to have come to a virtual |standstill as a result of “that por- ~ | tion of the order which puts a {ceiling also on export prices” since effect of the order “is to reduce export prices.” The magazine's scrap composite held Yehanied at $19.17.

JONES & LAUGHLIN NETS $4,160,507

PITTSBURGH, April 23 (U, P.) .— ‘Jones & Laughlin Steel Corp. today reported a consolidated net profit of $4,160,507 for the corporation and its subsidiaries during the first quarter of 1941, compared with a profit of $1,134,611 during the first quarter last year. The company’s gross profits, after ‘deduction of operating and maine | Lenance expenses and taxes, {amounted to $6,829,736 for the quar« [ter ended March 31, compared with {a gross income of $3,503,998 in the

was up| were | 50 not including the 2-cent |wage increase which went te She

Other revenue includ $240,000 in | same period a year ago.

Depreciation and depletion

Interest on |charges totaled $2,141,875, compared {bonds and rental took a $530,000 to $1,832,781 last year, while interest Thee utility's charges were $526,494 as against

$532, 600. Minority interest in profits of subsidiary consolidated was $860, | compared to $4006 in 1940.

‘MACHINE FIRM AT AKRON PURCHASED

| CLEVELAND, April 23 (U. P).— | Purchase of the Akron Machine | Mold, Tool & Die Co. by an Eastern | syndicate headed by Maxim Kolmer, |New York industrial engineer, was announced today. The company is completing plans for expansion of its new plant in Akron. Mr, Kolmer will serve as vice president land treasurer of the company. M. H. Behnke, founder and president of the concern, has retired, but a successor as president has not yet been named.

Indianapolis Times, Wednes.,. . “Apri 2, 1941 HALBING—Anna M., age 71 years, passed away Monday evening, mother of Mrs. Bertha Nard. Mrs. Anna Mullin, Rose, Joseph and Selma Halbing, sister of Mrs. M. Volkert and Mrs. Julia Oeftering, grandmother of Alberta, John . an Robert Nard; James, Arthur, John and Joseph Mullin; Jo Ann and Mary Lou Halbing. Funeral from the late howe, 918 N. Garfield Drive, Friday, 8:30 a. St. Catherine’s Church, 9 a. m. Burial St. Josenh’s Cemetery, Altar Society will meet for prayer 7:30 p. m. Thursday.

HARTUP—Mary

OeatherFunerals

68 years, wife of Scott, mother of X Frank and John Hartup of this citv. William O. Hartup of ColJumbus. Ind. and Lonnie of “Suthgate, iA Cal., passed away Tuesday a. m. Friends

mav call at the Jordan Funeral Home, ==

1550 Brookside time, Funeral Thursday, Spa 2D at the Woodru United Presby: erian Church at 12th and Arsenal. Burial Sutherland Park. Friends invited. Body will lie in state at church from 1 till hour [Noblesville papers please

Ave., at any

of service. copyl

HENNESY--John, age 75 years. passed yay, Wednesday, April 23. at the home, ; nt St. For information Finn Bros. Funeral

HINES—Thomas M., son of Mr. and Mrs, Michael A. Hines, ‘Brother of Robert, Bernard, Anna Marie and James Hines, assed away at his home, 1115 Laurel t., Tuesday, April 22. PFuneral Friday 9 a. m. St. Patrick's Church, Woodlawn and Virginia Ave. Burial Holy Cross Cemetery. Friends may call at the J. C. Wilson Funeral Home, 1230 i at St., after ¢ p. m, Wednesday.

JENKINS—Eleanor N., of 36 Adler, wife of Francis, tne of anc Jr., daughter of John Swift sister of Court: land of Richmond, pind. passed away Wednesday a. m. ends may call at he Tolin Funeral FE 13 a TOSRach any time 93 ter ursday noon, Seivices e+! Eremati p. m. from the funeral remation following. Friends

LASHELLE—Edward, beloved husband of Bonnie, stepfather of Benjamin and Robert Brown and Linda Sullivan, brother of Victor Spitz, Mrs. Ed. McCammon of city ard Mrs. rren King of Chic Ill. Funeral from late home, 1716 Pennsylvania, Friday a. " Peter & Paul Cathedral, 9 a.

NORDSIEK—Frederick, 73 years, beloved jusband of Charlotte Nordsiek, father of Albert H. Schroe v

EN m. La the 6. H, i radia, Friend ual Epnectah » nd

| HE

Friends invited. s may call a Teer

Jack. of 548 Chase St of Margaret Roberts, and we Lick RoBeris: Tuesday m . ces