Indianapolis Times, Indianapolis, Marion County, 30 April 1941 — Page 16

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ENS

War, Taxes and Coal Made Apri A Troublesome Month for Stocks,

By ROGER BUDROW

ott Lab pf 11834 116! Sri i

Air oe ug

Alaska Fst Ni

7-1 1

Allied ca Chem a 148% APRIL WAS A MONTH OF TROUBLE for the stock Aled fa Sore market. Stocks declined in reflection of the month's busi- Amal Leath pf. . ness news which was not particularly encouraging. i “Ag Cn pel’ : The German march through Greece, the proposed three|\n B* Sore bt. and a half billion-dollar tax increase and the nation-wide i a Gane & R.

Can coal shutdown—those were the biggest news events to busi- . 4

™ Gan of << 3 Oar & Fdy . n ess, in vest m.. 12 Ami Lo¢ ; 127% A a Math Fdy 11 | Am Bea Tet.

The

steel

coal shutdown slowed the industry, some railroads and industry, but was settled bee large stockpiles were exhausted. Utility companies in some | instances had| enough coal for | another month

o bie, cosiiTop Holds al $8.55 Here as 1 frozen during 9490 Porkers Arrive At Stockyards.

the shutdown. The steel inHOG PRICE RANGE Top

Am Car & P pf. + 4 Chicle .... 4% 161%

Am Paik wo IVA &l. 6 pf. 34% Am 3 3 pf A 293% & SS. 6% 1 Mill .. 13% 2 Rol Mill pf 63% 13m Safe Razor Am Ship Build. . Am elt {Am Smelt 7 pt 184% | Am Stl Fdies 20 | Am Stores N .. 10 { Am Sugar . 15 Am TERT ......152% Am Tobacco ... 6834 Am Type F 434 Am Water WW... 43% Am Woolen Am Woolen pL. . Am Zine E Anaconda Anchor Hoek Gl Armour i Armr III pr pf Armstrong Ck.. 26 Asse Dry Gds.. Atchison Vad Atchison nf .... Atl C Line Atl GRWI .. At] Refining Atlas Corp 4 Atlas Corn pf Aust Nich pr A Aviation Co™

dustry granted its workers 10 cents more an hour. Steel makers claimed this will cut profits considerably, but the rovernment froze steel prices until effect of the wage incregse is

Receipts 10,209 10019 2,000 13,050 8.423 9,190

April April April April April April

Roger Budrow 25

28 30

at the Indianapolis Stockyards today remained the same as they were yesterday, the Agricultural Marketing Service reported The top held $8.55 for and choice 200 to 210-pounders. total of 1133 salable cattle, calves, 9490 hogs and 449 sheep were received

Automobile companies agreed on, Hog prices 20 per cent decrease in their outof 1942 models which soon will coming off the assembly lines. Motors announced it will 1942 models over through turning its tool capacity r to rearmament tasks. A long list of corporation reports were issued showing sharply higher earnings for the first three months this year. But in many cases these offset by the fact that the nies were putting more money de for taxes so that net profits lower than last year. By the end of the month, tr ading | stocks was the lowest in nearly | wo months, Total April stock sales were lowest (for April) since 1918 = n = I THE WAY the State of Commerce figured that a's share of the national deoutlay of 40 billion dollars be about one billion, 40 million. liana has 28 per cent of the wealth (according to NaIndustrial Conference Its citizens received 24 of income payments to Leaps U. 8S. Commerce The State's popula26 per cent of naState Chamber rlended” these percentages and ed that Indiana will have to

286 per cent of defense costs aN 000

eral

hus at good A Bald Loco «ct

366 | Balt & ont» op > Be of

Balt Banger & f 2 | Barber Anat | Barker Br nf . Barnsdall . “. | Bath Ir Wks

HOGS Barrows and Gilts

140 mounds pounds pounds pounds pounds pounds

asi

were

12930! Beld Hem va 45! Bendix Avn 30 Ben md Loan 5! Ben Ind Loan pf 3a a) 29

5@ 840 Beth Steel 70% 2 8.30! Beth Steel 7 pf 123% 0@ 8.25 Bigelow San ' 8.20 | Blaek & Decker | Boeing Air 2 8.40 Bohn Al & Br Bon Ami A | Bon Ami

{orden @ 8.10! Borg-Warner 2 800 Bowsr R B p 8.00 Brewing Cp Am | Bdgpt Brass $0- 400 pound “i : 7.90 Briges Mfg ~ 450 ne 3 Str 7.85 Bristol-My - 500 und ! 7.95 Bklyn-M T NR Bkivn & 2 ™ 300 7.65 Bkivn $ Yas. . Brown Shoe Bucyrus-BErie "1 Budd Mfz 7.135 pug Wheel Bull Bh 1133) | Buth T B pf ctf Bush Term Butte Cop&2z Byers A M 3 Byers pf 0 Byron Jackso

S ‘ Packing Sows Choice ian pounds

- 300 X

pounds N \ Slaughter Pies fum and Good90- 120 pounds " CATTLE Slaughter Cattle & Vealers (Receipts, Steere

cent ndividuals Department on is about nal total Cho1os a 750- 900 pounds ; 900- 1100 pounds n 1

Rul bear 31,040 Cal Paeking gi )5@ 11.95 Callahan Zine

750- 900 pounds +H 50 Calumet & H

900-1100 pounds 1100- 1300 pounds 1300-1500 pounds Medium — 750-1100 pounds Adee, 1300 pounds Common nds

750-1100 pou Steers, Heifers

ST IT WAS automobiles, now radios. General Electric an. it will twin over its ree used in developing radios, sion sets and tubes, to the deprogram This means its models, now in production, the last major the emergency is

» =

FIR 9.00@10 00 Capit Adm A Car CRO . a 1.00¢10.90 Qipenitr he | Caterpillar T .. 8.00@ 9.00 Celanese | Celanese pr bo elo ote} vod \ 1.%@1200 Cen oudry .. : nn Cent Viol Sug . , [email protected] Senatn: Hed ain-td 6 pr Ghicket Cab orn . . « 1100@11. ts ERS § Ohio. \ 5

. 10 [email protected]) hie sys 8

1510.0) PALEY RAY

TIS@ 8.75 Chickasha C C

ounced

ASD DNS LIND Now

Tees LCE

3 3

GA oy OI 0 Se

—

-— BI rr BIBI UG «Fo or PE FOOLS pot «IBD Bw 3 BASED DO

CES DD

pf 1 Cholece 500- 750 pounds Good500-

« ow + -~ >

730 pounds

A. CS =a

“horee 750- 900 pounds Good 750- 900 pounds Medium ~ 500- 900 pound C Jommon - 500- 900 pounds

n un

ODDS AND ENDS: Wheat prospects in Europe are generally un{a able with the season a month Agricultu Marketing Servsports Bridgeport Brass is building an $11.500,case plant here, had a i the first three year compared with St quarter of 1940. . . . ller, president of NaAssociation of ManufacU. 8S. industry has ac- Vearets more in 10 months 44 choice “much-vaunted dic- Common and choi aia in two and a Feeder and Stocker Cattle U. S. Rubber Co (Receipts, 568) a new synthetic chem- Steers organic compound called designed to destroy fungi in soil and on ink-Belt’s first quarwas $566.333 against first three months last Plans are being made commodity Credit Corp. for wheat movement for any in history. Between 15,000 20000 cars will take grain elevators to make room for harvest

LOC AL 188 UES

following quotations by the Indian. Good and choice Bond & Share Corp. do not repre. Negi and good ommon al price of offerings, but merely 4 the approximate market ‘level i on buying and selling quotations of actions Stocks gents Finance Co. Ine, gen Finance Co, Ine, & Stk Yds com & Stk Yas pfd

3 Po Loan ‘ss rug In &ETHR Wayne vo pid 0 Tel Co $35 pid El ee pid

yr WE a

ol oP Gp EE awa

ON -

| Chrysler 50 | City Stores Cl El

ral Good Medium Cutter canner

"5 m bf op! Climax Moly C Feab

a and common

hell

op > Tee Ee a Gi EES ES a

CICS ON pw BO a BGT GO pe wt ow LIC ON pw BD oe BHD BD J or po A THUG Ld ror FED TY ow 23 BD

Bulls (Yeariings excluded)

3 3

fr a

tr El a

Gol Pu & Tron Col & So 8.50 col & So 1 nf. Colum Gas Pictures Carbon

Beet Good save Good Medium ‘e ( oY and common...

gy - -

Col

NTN

a UD en NLD BPE ro CN >” co

FST Se ES Ee

TD ND BRS ED ee Ty wes

onl

LOD

-¥

HH Dw EE

Lod RAS

Chotee 500- 800 pounds 800-1050 pouna

CAA, DUS

ng Se al NY oi My be nt RY: PRQIOE SORE 4 A cv 33% AY

§78@ 950 Cont @ Cont vous . 19% 18

é 1% 10.50@12. | gorn rod . .. Prod nf

$34 0 | Cor 10 [email protected] | Crane Co | Crane Co ev pf 10% rosiey ool. wn kK [email protected]| Grown Zeller Medium Crucible St ... 500 pounds down [email protected]] Cub Am Sug .

SHEEP, iy (Receipts, 449) Amba

10.2% 10 2%

- 3 ad -

—- = od »

$50: 3000 Con.mo 500- 00 pounds Calves jon ana ehotce— 500 pounds down Medium — 500 pounds down Calves (heifers) Good and chotce— 509 pounds down

7.93@ 8.98 Qant Mi | Con

cont orn

(steers)

ahy | Sure Pub { Curt Bub pt ot Curt Pub pr 9 neh 3 Curtiss wr 509 9.50! Curtiss r 3.509 9 Cutler Ham

(wooled) 550

Ask ®

Bid

1% d 20 5%

A com A $ pi RR

Belt Relt

> >

with ?

Asso

Mich

Com

- A »

RTO OOF oe TU le = hp 3 SF -

Ca | Ct pt

Lines

LIU BINS AS DAD rr ne FY 3 DS a -

& Nr

—-

— Da DED - -

123 102%

Camp i Camp Milk com 13 Bond Joan 3 51 yan 8s 46 a0 Tel 4s 61 "pt Wayne 5ig% b Revy nolds-Tavior 5s 42 TR ft Wayne 6: 43 “Aso lel Co 3's TO dpls P & L 3s M0 s Railway Inc 8s 87

108 103 182 108 108 100 108

107% 84

107%! 133"

108

5 4%

Gabriel A . air Robt . | Gair Robt pt. | Gamewel Co .. gen Am Inv .. n Am Tr.. Baking Brongze .. Cable

Clay \ Electric . ods GQ& EA. Mills Mills pf n Motors . .

+. 100 Works 5s 65 . Silk Hosiery 5s 42 ““ Ind Pub Serv 3%s 69 nd Tel 4's 8% » Serv of Ind 4s 69 y Tel Co 45s 88 : mond Water Wks Ss 87 rm Corp Ss 57 vid end

—

= sss

E0255] 90 SE a

Ewes Good and choice 6.50 Common and medium 5.50 Deere & Cv — - Deere “ \ oy a \ Del & Rugs ac & LAR Al 0 l. I ES STOC Bet Edison .. Hogs—Receipts, $000; market generally | Diam XB 3 Vong 106 1s¢c higaer; weights above 250 1b. fully | pjicy Sea 14 , instances lower; good and choice Doehle ‘B Cast ; ; top, $8.68; 270-330 | nome Nites : ; sows also i0@ise goghet: Doglas Aire .. good 400-500-1b weights, $7.65@ eX- | Dresser Mig .. treme, $8: lighter weights above. | Pani! : Sheep—Receipts, 5000, Late Tuesday fed pn pont wovled lambs closed 106 15c lower: elip-! PDuauves © pers around steady: bulk 92-104-1b. wooled offering, $10 Sad 11.25: few best loads, past Air $11.40@ 11.50: latter top to shippers and past R Mill butchers; weighty and unfinished East Kodak ind, £10.25 10 75; most clippers, $849.50. Eaton Mfg Today's trade fed lambs opened about Elee Auto-L steady: early undertone weak, however: Blee Boat sevral loads best 98-102-1b. wooled offer-! Blec Pwr & mgs, [email protected]; weightier kinds down © P & LL $8 of from £11 to $10.50 for some scaling more El P & I, ¢ than 115 Ibs: best shorn lambs early scal- | Biec St ing more than 100 ibs. $3.50; other classes End Johns 4 searce and quotably steady with native | Bnd Johns pf 108 ewes salable down from 8%. ne Pub 8 3% Cattie--Receipts 12,000; calves, g P S 5.50 ot 81 | fairly dependable magket on vearlings Nei | | Baait Ridge i“ | all grade light steersy steady to 2%¢ lower, | Brie 1 nf | mostly steady to weak: very narrow out-| Eureka Vac let, however, on weighty steers: especially | vans Prod big weights scaling over 1400 Ibs. unless! Ex-cell-o sirictly ehoice: bidding 23¢ or more lower an most weighty steers scaling 1200 ibs upward: comparatively few sold but liberal Fairbanks pt supply vearlings and light cattle turned Fajardo Sug on early round: top. $13 paid for long Fed Wat 8 A veariing and medium weight short steers; | Ferro Enamel several, $11,956 12.25: bulk early sales, $9 | Fid Phen 38 @12: fed heifers steady Meh Kind, | Firestone nf A 1, weak on offerings Foal) over 875 Ibs. First N Strs | numerous loads sold at Wail, bulk of | Flintkote | these under 850 Ibs.: A scarce, firm to! Foll Stl ev pf shade higher: bulls steady: weighty sau- | Food Mach sage offerings to $8.35: vealers steady to | strong: 110-140-1b. offeine showing most strength at $9.50@11 choice weighty | shippers, $12 109% a, 1 &' OTHER LIVESTOCK 103 | Pr, WAYNE. April 30 (U, P). 107% Say 200- 0 Ibs, $8.35: 180 0-300. | $8.25: 160- soos 3 220 289 a { DS. |

HFEF

a om Cd CD CTT TD le GD

CARS me THO LI I LOTTO Be DT ve en A wea

Ex 120

LOC AL . PRODUC E 0

2 col. I Ives, RLS No. 2

clipped lambs, $8;

82 38

83 1 Heavy breed colored hens, 1%¢; No. 1 @ ored hens, 13¢; Leghorn hens, 13¢: Leghorn hens, 9c; springers, 3 Ibs.. and over, 18c; No. 2 springers, 15¢: White and Barred Rocks, 18¢; colored breeds, 19¢: No.

COCKS, Te out g ter qe: Butterfat RS m pickup prices ph by

a ws

aon Gen Gen Gen ‘Gen 8S

CINCINNATI, April 30 (OU, P). —Hogs—| Receipts, 3723. arket active Reher Ally Shendbi L ops £3.55 Tot good and Shoice S$ 40-2 8.30: 20 toe

60 a 350 Be 3 3 @8; No | Gen 140-160 5 a 8: most #90 an ‘

|35ea; bs, gkaasd grade packing sows, RIT &R.... Caitle—Receipts, 273: calves ~350, Steers| Bilietie SR .. less active, most sales steady to weak bul|Gimbel Bros ‘he heifers ctrong: cows steady; bulls weak Lo! Gimbe He 25c lower. Medium and good steers, $9.50 Goebel @10 50: with 8640-6870-1b. good heifers, Goodrich $10. 406010.50; 815-1b. heifers. $10.25; strict- Goodyear . iv good 750-1b. heifers. $10. hi ood steers | Graham.Paigs. ‘ above $11.50; cutter and cows, | Grand Un xets | $8.504 7.25; sausage bulls, 85 95008. 80, veal- | Granite © Sti... ers metive fully steady: : [$1011 common and medium, $869.1 erates 32 1072.75, Lettuee — Arizona. | Sheep—-Receipts, 200: small supply good | Gt crates. $474 75 Sweet Potatoes Tennes- vo choles 38-86-10. spring Py Be sieady Groen pee. bu, 31.30@1,60, tas (80-1b. sacks) [at $13@14; bulk run consisted short Towa Yellows, $1. 06 Michigah ¥ Yel- good to choles 83-1b. Mmb with POBLARINS | Sant Tows $1101.28; Ly Sellows, 0. at $0.85; wooled lambs sheep scarce, mman A Ss

18% No. 2, ua No. 2, 30¢ the Wad-

But 15¢ Fat

FOOD PRICES

CHICAGO. April 30 Michigan Jonathons, "at ORS Mexican lugs Ninots, bi. 63@00e fornia. crates $1.93

U. Pp) Apples. bu, #1 #1 3 To£4@S. Spinach. Cauliflower CaliCarots—California,

-- ws

FEEEF

Net Low Close Change

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FINAL NEW YORK STOCKS

By UNITED PRESS

DOW-JONES STOCK AVERAGES

$0 INDUSTRIALS vo 11638 seatsestisestesees 11659 + J. 11

4-010 40.81 40.1% Ago -1.%0 High, 1941, 133.59; low, Ne High, 1916, 152.80; low, 111.84

20 RAILROADS

* | Sou

High, 1941, 20.95; low, 26.5. High, 1910, 32.6%; low, 22.14,

15 UTILITIES

20.65; 26.45;

High, 1981, High, 1910,

tow, 18.0%, low, 18.08.

Net High Dow Close Change | 3a 3%

Oh pt. 18% 16%

Hack Wat pf A 3

- 1% | Val Ve | ‘a bo

33% 13 108% 17%

33% 1

es C EB. ..c. 18 d | olland Furn.. 25° 3 : al olly Sug..... 12 - omestake ve

udson Mater . upp Motor

i Central Ce!

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Va Val 4

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t rie Ya at Business MN 141

- Bet SPE adr tent

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a Jarvis Co,

Johns-Man ... Jones & lgh % Kan C Sou . Kaufmann DS | Kelsey-Hayes A | Relsey-Haves B | Kennecott “is Keystone Stl Kinney 5 pf ... Kresge SS Kress ‘ ’ | Kroger G & B Laclede G Laclede G pt .

Libby MeN & I

My i y Tul Cup | Lima Loco | Lion Oil Ref Lig Carb § | Lockheed Air

ne Lone Star Cem Long Bell A Bis

| Lorillard

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Al Natomas | Newberry | Newmt

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Lou & Nash

ack Tr acy RH anati Su farine Mid . arshall Fld artin (Glenn) artin Parry .. asonite Corp athieson pf .

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Sp wr ¥ a o> -— aw

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Milling urphy urray

mo ND DD TI IY Cp BD SBD AEN

nor -~

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12 |

Nash. Kelv “ N Ch & St L . N Acme Auto Fidb Aviation , Biseuit Bond & Inv , Can Corp , Cyl Gas Dairy Sxtillers ‘“s Gypsum , Lead 1 , Lead pf B 14! 3 rts & Lt | Sup Penn Sup pf

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TOPCO er rer TOG DWI DWI PCO TT -

FEEL O RET ARTE See Na

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— —- DITO re pe TOS De DIS TH Sod ST

—

3.5 pt pt a

R Park Utah Film

Oo Go a Sa pr Sg BEET EN Eee WN

-¥ RPI wT pe

-¥ D BID 5

Pere

| Pere

| Pitts Stl

Forgings Pitts Se 8 B 3 Fitts St Stl Sot : 2 Plymouth ‘Oil . Postal Tel pf

Press Stl Car. Procter & G..

Pullman . Pure Oil Pure O 5 pf Purity Bak

Pre IGS Bd md —

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‘ oh re i Smit Tr. Sa: nye Vacuum, oenst Greve b } § io Cal BQ. .. Sutnern uy a Sout Jouth 3 ‘ th Ry v pt. So oR M & o eis

12%

ng a 25%

Oi | Starrett 5S on Sterl Prod ..... §

“es tokely atts — "vu Stone & Web ..

jJebaker

Sunshone Min .. Superior Oil ... Superior Stl ... Swift & Co Swift Intl Svm-«Goul Sym-Goul

rr BG or PBT Do ay a - S

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Telautogr APh Ten RH

ear a

AD DC W-

lw BH

Transamerica .. | Trans & W Air | Trans & Wms | Tri-Cont . { Truax Tra ... Truscon Sti 20th Cent-Fox Twin CY R T

\ | Twin Coach 4

Und Ell Fish Union B&P Union Carb Union EI Mo ofl C

» Premier re. Afreraft ..

{Un Eng & Fdy United Fruit ML Gas Imp . Un QGas SNR ot 116 In

~ NAS a

Un Mer& 8 8 Iss nf |U 8S Freight 8 Gypsum 8S Hoffman S Hoffman pf

Sajex Mch

Vadsco Van Norm

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Waldor{ Svs Walworth Ward Bak Warner Bros Warren F & P | Wash Gag Lt Waukesha Mot

pf.

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pf She 0 Stl Dr

| Zonite

Net High low Close onanee

12% i s % Vi hs Ya 1 Nn a 1

I+] +++] I+

: first three months this year, $23,000

CITIZENS GAS PROFIT RISES

First Quarter Earnings Up $23,000 From 1940; Highest Since 35. The Citizens Gas & Coke Utility earned a net profit of $189,000 in the

more than for the same period in 1040 and the highest first quarter

0" al Ve

ESE _e

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w lt wf pf os SY GY IYO DCS UY GK HY 4. Paw waa

4 Fs

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I Ee a aOR ES PS Fes

a — H-

[with the Public Service Commission

earnings since the City acquired the |property in 1035. The quarterly report tiled today

showed that gross operating revenues, $1,753,000, were $85000 under the comparable period last year, due to a drop in by-product sales.

Coke sales, $606,000, were $148,000 less than for the same period in

Paul G. Hoffman ...

” ” »

1040. In that period, the utility was |

supply of coke but the surplus was |

wiped out long before the year was |

over. | Coal tar and water gas tar sales, |

| $38,500, were down $11,500; ammonia * sales, $43,500, were down $7000.

Gas sales for the period soared to $836,000, a $46,000 gain, while gas |

$138,500. Operating deductions fell $107,000 |

raw materials processed. This is a saving of $110,000. Fixed operating deductions and deductions from gross income totaled $242,000 and $03,000, respectively, both parable with the 1940 first quarter.

were $2,903,000, which was about] | $400,000 below a year ago, due in part to wiping out of the surplus coke stock. Current liabilities were $343,000 ($303,000 last year) while

000 ($2,266,000 last year). Revenue bonds in the amount of

5 4 a Bis rr ar CF OG we IY

11-18

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POSTPONE VOTE ON UTILITIES’ MERGER

Today's of Public (Centr al

Service Co Indiana

meeting of stockholders | at of Indiana, Power

Co. and |

h | taking n

13 | point

$152,000 will fall due in June, | bringing the total retirement thus [far to $435,000 and leaving out standing $7,565,000 of the original | $8,000,000 issue for purchase of the | property.

STOCK PRICES CLOSE LOWER

to $1,102,000 of which $065,000 was | the cost of products sold, including | nual stockholders’ meeting here yes

the company's'the World War. dividends, Mr, Hoff

000,000

Utility Average Makes New

o| Low for This Year;

U. S. Bonds Vent,

NEW YORK, April 30 (U, PD. Weakness developed in a few P ing stocks today and the general | | list drifted lower in light turnover. |

drawing heavily on a huge surplus ‘Studebaker Head Believes Firm Should Pay Debt Before Dividends.

WILMINGTON, Apri

Studebaker Corp, has “promising

appliance sales and other miscel- | prospects” for making money in . |laneous revenue gained $37,000, to! 1041, according to Paul G. Hoffman,

president,

Replying to criticism at the an-

| terday concerning | failure to pay

man

Since the 1035

Optimistic

er is well situated.”

asserted that directors “ com- felt that until the corporation has! | paid off its debentures and is debt! my, Current assets as of March 31 tres no dividends should be paid.” will buy stamps, as low as 10 cents, reorganization. | Paste them in small albums the

“Studebak-

1 30 (U. P),

U, S. BOND DRIVE STARTS TONIGHT

Governor Will Buy First of New Defense Series Here Tomorrow.

The Government's campaign te sell defense savings stamps and bonds to help finance the defense and British-aid programs will get under way in Indianapolis tomorrow morning when Governor Henry WF, Sehricker buys the first bond.

The Governor will buy a $500 bond from Postmaster Adolph Seiden< sticker in ceremonies at the Poste office at 9 a. m. Sale will then open in banks and postoffices throughout the state, President Roosevelt, Treasury Sec retary Henry Morgenthau Jr. and Postmaster General Frank Walker will speak over the major radio nete works at 8:30 o'clock (Indianapolis Time) tonight in the first of a series of “sales talks.” Mr. Roosevelt will receive defense savings bond No, 1 and the first postal savings stamp of the new defense series,

No ‘High Pressure’

Although there is some ceremony attached to the opening of the came« paign, Treasury officials emphasize the public will not be subjected to “high pressure salesmanship” such as accompanied Liberty Bond and

have!

Studebaker has built up an earned

surplus of $4,300,000 and the 10-year convertible 6 per cent debenture is«

to $5,841,000. ments this year will

accrued liabilities totaled $2,758, | sue has heen reduced by $3,000,000 Sinking fund pay=

reduce out-

standing debentures to around $5«

at Hoffman asserted, “Meantime.” he said,

the close of 1641,

Mr,

“Studebaker

is well situated for anything that

may come.” Erection of three pl production of Wright power aircraft

engines

ants for the

horse« give

high will

war savings stamp campaigns during

The regular classified Post Office stations in Indianapolis will have the savings stamps for sale, This does ‘not include substations in stores, Seidensticker said. Investors

Government furnishes, When the folder is full, it is exchanged for a bond. There is no name or address on the stamp folder. If it is lost, the finder may cash it and no questions asked, Mr. Seidensticker warned, Buying a defense savings stamp, he pointed out, will be as simple as buying a stamp for a letter. The postal savings window in the main Post Office will sell them,

$5000 Limit

Indianapolis banks, some building and loan associations and five Post

Studebaker a capacity second only| Office branches will have the bonds

Ito Wright itself and the Pratt &| for sale,

| Whitney engine firm, meeting.

he told the

These plants, built for $48,000,000 on a cost-plus-fixed-fee basis, “will serve to absorb whatever decreases

might come about in

ness."

GRAIN PRICES

other busi«

LOWER AT CHICAGO

CHICAGO, April After an upturn of

(vu, 1%

) ts n

The utility average made a new | ‘bushel, wheat prices on the Board

| low for the year. Other major | | groups were near their lows, | | Bonds encountered some profitin the recently firm road group or So, stead

U, 8,

Governments Cotton |

were rose to new

the farm bill, |

| Some leading stocks were driven |

no apparent reason in| New lows were made by | Telephone at 150 off Pont 1386 off 2: Electric 88 off 1'i and General Electrie 28%, off "4, Eastman Kodak lost 2 points

Special weakness came into two leaders in the airline group, Ameri(ean at 43 off 3 points, and Fastern | 24% off 3'4, the latter a new|

| down for [ the news, | American

| low,

3 | 8 Westinghouse | roe ggiie: oats off '% to Se, May to 1%e, May

| July

of T close fractionally lower,

rade went on the downgrade to

Fears of freer redemptions of loan wheat on advances, action of stocks

rail land favorable crop advices accounts German issues 10st for the reversal in the trend,

Soy

beans scored good gains early with the May contract moving to a new | seasonal highs on House passage of | ‘high on the crop but losing ground

in the final hour, broke sharply in the funder lquidating sales, Wheat closed bff ! 11g 0le, Corn was o

365. 45! May

Wheat agen 0 $

sen’ rye off 1'%

$1.22% @'5. RANGE High Low D2 8 00% a 801%

May

HOV DOB

| Bent 01's MY

("Terre Haute Electric Co. ne. was | DAIL ¥ PRICE INDEX, iy 3

a quorum

" [adjourned because of the absence of | : | Dun &

NEW YORK. April 30

Py Bradstreet's

daily weighted |

Meetings of the three corporations price index of 30 basie commodities, |

subsidiaries, plan to| ss merge, was set for Wednesday, May |

21, at the Traction Terminal Build.

ing.

,| voting of such stock in

N ‘| the pr oposed consolidation.

S. Government Bonds b

Treasury Bonds

-46 1950- 48 Mare h 1954.52 ‘ 1053-40

in | respect to |

1 w

1 1 1 1 1 1

a FEEDS tt pt te wm Se

Federal Farm Morigage Bonds

1064-44 . 108%

Basins Postoffice C Goes Into High

- SRR

Na Na COR

BY " “

Postmaster Adetph Seldenstioker and Indiana's new “traveling post office” , . . 15000 philatelists await

Saturday a huge red,

blue truck wlil wheel out on Road 31 and head north from IndianapIn it will be

olis for South Bend. high postal officials and | letters sent

| postage stamps.

The trip will inaugurate Indiana's new “traveling post office,” a 33streamlined truck,

foot, all-metal, the second of its kind

into service in the U, 8.

by philatelists, | people who make a hobhy of saving

Close |

5 0 106.30

white and

bundles of the

to be put

| Michigan

compiled for United Press (1030-1 (32 average equals 100):

[Today | Yester day

129 86 129 60 128, 50 | + : 20, 02 | 120.22 120.83 123.03

| 1041 Migh (April 17) ... 1

Incorporations

Lake 8hore Distributing Corp Alvin

Franklin 8t., Michigan City. agent, Blieden, Merchants National Bank| Michigan City; agent, Alvin D Merchants National Bank Bldg. City 100 shares of $25 par selling and distributing malt Jeveranes and products thereof, J. K, Gray, Alvin D. Blieden, Jane H. Pitman

T. J. Connell Trucking Co., Inc, ColumAve, and Mount 8t., CQonrersville , T, J. Cennell, 515 Western Ave, Connersville; 800 shares of $100 par value, transfer busines Connell, Connell, ston

dg.. Blieden,

value,

its first run Saturday.

More than 15,000 philatelists have gent letters to the Indianapolis post office to be carried on the first trip. More sacks of special mail will await the truck at South Bend for the return trip where a special cancellation also will be affixed. Built like a passenger bus, the vehicle will be used to service cities along the route between Indianapolis and South Bend. The following Post Office officials

| 18ent

| May

| dent

68 | ia AR Sent 68% Oatne May . “July July “Sept

18% 13% Mla 12% Ma

45% B27

*July July “ep {lent

Soy Beane . May 1.04, 1M

1.20 1.20% 1.00 1.00%

1.22Vh 1.18 107%

July... Oct

Lard May July 8.87 8.87 Sept : 02 0.07 Oct 0.15 0.15 aAsk: bBid: “Now;

8.65 8.52 8.15 8.95 0.02 Old,

STEEL HEAD RETIRES

PITTSBURGH, April 30 (U, P), H. Burnett, senior vice presi Carnegie-Illinois retired today after 40 years

en of Corp.,

J Alice C , operati Mary E. ‘Connell, Q. Rdwin in Jom ubsidiar y of U. 8. "Steel ly ng

from Washington, D. O.,, will be on the truck for the inaugural trip: Smith W. Purdum, second assistant postmaster general; fourth assistant postmaster general; John D. Hardy, tendent, Nair Maxson, tendent;

Floyd Williams,

«0 and soy beans off 5%

Walter

general superin-| Rallway Mail assistant superin« Harrison Parkman, Office Department purchasing agent; gineer, and A. G. Biedenweg, motor vehicle service superintendent,

Other grains

late trade

to Ye, May

ff % to ‘4e, to ie,

my 3a a "

Steel

yers,

Service; | Post postal en- |;

The Post Offices are those of Haughville, Fountain Square, Broad Ripple, Station A at 32d and Ilinois Sts. and the main one downs town, Bonds are purchased at discount, $26 hond, for instance will cosé $18.75. It will mature in 10 years at $26. Governor Schricker's bond, therefore, will cost him $375. The honds cannot be ‘ransferred but may be cashed in ahead of maturity, No one person can buy more than $5000 of the 10-year bonds in any one year but *vealthy persons, trust funds and businesses can buy $10,000 bonds of what is called Series F and Series G which mature in 12 years instead of In 10 as in the lower-priced Series H,

Three Objectives

The defense savings program has three objectives: 1. To raise money for financing the multi<billion dollar outlays for defense and British aid, 2. To prevent inflation by borrows Ing money from as many Americans as possible and by encouraging ine vestment in savings bonds instead of expenditures on non-essentials, 3. To provide citizens with what the ‘Treasury described as a | “financial cushion” to break the shock “of hard times which may come when the country changes back to normal economy after the present war-ald set-up.” Expenditures for the coming fiscal year were estimated by the ‘Treasury at $19,000,000,000. Under the Administration's new financial program, approximately $6,333,000,000

d must be raised by borrowing.

PROFESSOR TO TALK ON FREIGHT RATES

go Dr. L. C. Sorrell, transportation gg| PrOtesndy at the University of Chie Al "| ™

a | cago, will speak at the meeting of Transportation Institute of Indians in the State Chamber of Commerce » assembly room at 7 p. m. tonight. Dr, Sorrell, who has heen asso ciated with the traffic department of several Chicago meat packing concerns and with railroads, is to discuss interterritorial freight rates, particularly the “destination level” theory of freight rates proposed by the South.

wile

Y “ lic GRAIN Whent end ASH { 1 ent we wy? recelp i onds No. 1 red o7% BBC No. 2 red soable do 1 hard 848 No, 2 hard, 84«n86 wd receipts 27 rcarioads; Nu, po [LN No. 3 vellow, 62% 84d white corn, We to 5 cents over yellows mixed. 1 to 2; cents under, nis—Easy 2ioepie. 9 Sarlogds: au Aeans—Weak: re it No. ”% ellow, Indiana i yellow Hino $1, 1341, LAFAYETTE A oa ~ Hogs » Market, steady: 160.2 00« Ao: ors $8780 dow: oy de i A : own; ns 8, down, Calves, i010 50: lambs, stom jis" WAGON Wi TE to the close of the Chicage Parked ody Indian fiarolis flour mills and vators Bo 830 Pex hushel for red wheat (other grades on their merit) ahd | 660 ps (i for, white oh a

yellow corn; A 700: No. 2 hite® on” "3he

WINNIPEG WHEAT

P ov, High Close ol y - $.757n $757 Jul

2 Jan I levels.

U. 8. TE

WASHINGTON Apnl 30 (U. ernment expense d receipts rent a Fi, t roush April 28,

Low CVs

P.) or the Ave compar

S27 < > = =

333333333

——n WAI B00. 3

4) 4» ‘ ‘ ‘ 4 4 y 0

INDIANAPOLIS CLEARING HOUSE Today

ge FOREIGN EXCHANGE

NBW YORK, April 30 (U. P.).—Follnwe ing are noon 'eable rates on major ours

rencies: ¢ bh a A ot fish ¢ und) . wt, cheney ollar) ... “" a. ance (frane) i I, 0004 Tiaty (lire) od dl BR (peso)... +000" Ly DR . Th ii =

wm iii

Us only under U, #, Troanird