Indianapolis Times, Indianapolis, Marion County, 7 May 1941 — Page 10

Page PDF (9.52 MB)

Back to issue view

THE INDIANAPOLIS TIMES Making Shell Cases . . . . . ‘Drawn’ by Machine . . .

WEDNESDAY, , MAY 7, 1941

. Hot Water Bath .

PAGE 10

BUSINESS

Pickup in Industrial Employment

Decreases Supply of Farm Labor By ROGER BUDROW

THE HIRED HAND SITUATION ON INDIANA'S FARMS, as well as in many other states, is likely to cause some difficulty this summer. The crux of the matter, according to Farm Bureau leaders, is that farm labor can make more money in industry now and that is where it is going. The problem hasn't sprung up overnight but has been brought to a head by the rearmament program. State employment officials say that labor generally prefers industrial to farm work because of the long hours, low pay and general

working conditions. The Farm Bureau believes that

Indiana will get through the planting season with- | Top Here Lifted to $8.85; 9000 Porkers Arrive;

out eo MuEh 1 Vealers Higher.

HOG PRICE RANGE Top Receipts 13,050 9.490 9.281 11,082 | Adams Exp 5%

2.500 | Addressograph TL 1eN 9.47 6 Alaska Juneau. . ia 2 4,

AAA ot tii AAA ARIA ARI RAR A150

tors id er mechanical farm equipment can| do the work of many men, It is also possible to harvest he wheat and| oats crops and corn, too, with the present labor supply, they believe. But the] tomato work in July and hay-mak- | ing are expected to pose the biggést roblems because they entail so Mas much hard work by hand. There is|y. = no mechanical tomato picker andy, : there is much hard work involved | may in putting up hay May It is possible that farm wages will have to be increased in order te attract enough supply. Another possibility is that more help will to be imported from other

The new cases get a hot water bath to cleanse them of oil and waste material gathered during the machining processes. The shells now go to Cincinnati where the percussion caps and projectile are fitted at the Army Ordnance Depot.

London Rubber (SAVINGS LEAGUE Market Suspends MEETS MAY 15-16

LONDON, May 7 (U. P.).—Trading on the London Rubber Market| The Savings and Loan League of Indiana will hold its 51st annual

was suspended indefinitely yesterday pending clarification of the meeting at the Indianapolis Ath letic Club May 15-16.

Government's program for control of the commodity under the direcThe meeting is in conjunction with the eighth anmual stockholders’

tion of Controller Sir Walrond Sinmeeting of the Federal Home Loan

clair. Sir Walrond, recently appointed Bank of Indianapolis. Speakers listed for the session in-

to the post, has intimated he plans no interference with the market but dealers fear the eventual shutdewn clude Frank W. Hancock Jr. of Washington, member of the Federal Home Loan Bank board; Everett

of trading. Smith of New York, financial repre-

In that connection it was resentative of the Federal Home Loan

called trading on the Liverpool Cotton Exchange was suspended by the Bank System; Henry E, Hoagland, professor of business finance at

members at the end of last March, following the establishment of Government control over all raw cotton |Ohio State University; Robert E, Lee Hill of Columbia, Mo., director of the University of Missouri's

in the United Kingdom. The rubber market was noted for alumni activities; A. D. Theobald of Chicago, assistant vice president of

et | Sub Serv 8 pf.. Low Last = | Fullman, ..... 3 Kg ~"%| Employment increased to 342,000 the length of its trading session, $24 ..|in April, only 8000 below the all- the longest in London. Dealings be[time high of September, 1937. The | gan at 10 a. m. and closed at| United States Savings and Loan | figure was 600 above March and |5 p. m. with another hour of tele-|League, and H. Merle Smith of Kan66,000 above April, 1940. phone dealings permitted under |sas City, Mo., secretary of Missouri Savings and Loan League. Presiding officers will be Claude

In Indianapolis, employment |the rules. gained 2.1 per cent over March and U S STATEMENT E. Bagley of Hammond, president of we the Savings and Loan League of

nearly 40 per cent above a year ago, while payrolls gained 5.3 per cent and 71 per cent. WASHINGTON, May 7 (U. P.).—Govern- Indiana and President Herman B ; ment expenses and receipts ior the sur {Wells of Indiana University, chair~ reported declines rent fiscal year through May 5, compared iy LY man of the Federal Home Loan

Several cities it was | With a year ago: Bank board of directors.

At General Motors’ Guide Lamp Division at Anderson machines are turning out cartridge cases for anti-tank, anti-aircraft and Howitzer projestiles under a $5,000,000 Government defense order. Here a workman faces one of the brass shell cases.

NEW YORK STOCKS

By UNITED PRESS

Last cane DOW-JONES STOCK AVERAGES 30 INDUSTRIALS

The cases are “drawn” by this machine. Guide Lamp is manufacturing 37 millimeter cases, types M16 and M17 for anti-tank and anti-aircraft guns; 80 millemter cases, type M19 for anti-aircraft guns, and 105 millemeter shells for the 105 mm. Howitzer, field piece.

PAYROLLS, JOBS RISE IN STATE

Indianapolis Employment | 40 Per Cent Above a Year Ago.

For the third consecutive month, | both employment and payrolls in *| Indiana manufacturing plants con- { Phil Morris pf.

- a! + 0.16} Poi Pre NS re tinued to gain in April, the Indiana “09 Pillsbury Car 17 + 1 ‘| Employment Security Division reitts Coa eo 4, 2 —o.95| its Coal pf... 11% T “2 ported today. < | Year Ago . +0.05 | Pittston “ 5h : ! 1s} Factory payrolls reached a new Sil High, 1981. | Plymouth Oil .. Hd peak of $10,275,000 a week, a gain 2 Poor ‘es High, 1940, 26.45; Low, 18.03. Procter & G ... “es "lof $350,000, or 36 per cent over ‘s | March, and $3,180,000, or 449 per

| | Pub Serv cent over April a year ago.

Roger Budrow

April 28

Net April 30 High Low High Low Last Change

win

1, Yesterday 41.26 Pac Am Fish 1a Week Ago 3g Month Ago .........oenne a

iy Year Ago

RF — +

8 253% 34

het -

‘« 8 Tl 25% . 34

Al pf $30 ww 9,7] | Resh Lud Stl

2 Allied Chem ...14 Hog prices were boosted 15 cents | Allied Stores ... | Allis-Chal 2 at the Indianapolis stockyards a. | Ames Leath meradsa . .e day, lifting the top to $8.85, the Ag-|Am Ag Ch Del | ricultural Marketing Service re- | Am Airlines .... ported Am Bosch | . | Am Br S The advance was made on alljAm Bl weights, Hogs weighing between | am Carl ray +. 2 Car&Fdy pf 200 and 210 pounds drew the top|amM Gar&Fey pt price. Vealers were 50 cents higher Am-Haw SS with a $12 top. Ah Home Pr. The marketing service estimated | Am ens 900 salable cattle were received, 600 Am calves, 9000 hogs and 100 sheep. an

ned aw - aw

. | Pan Am Airw's. 103% High, 1941, 133.59; Low, 115.30, Panhandle ..... 1%

High, 1940, 152.80; Low, 111.84, Paramt Pict 20 RAILROADS {Park Utah ..... 0.49 Pathe Film .... | Penney . —0.36 Penn D —0.07 Penn 1 Pere Mqt pf ... 3 la pr pf 60 in | Pet Corp Am .. 6% Val 1 1 la

a - ona

a ‘a "

CA J END OOO de 8 ~

Hara OF BS AD

5 15% have 4 ®

“mae - ro SOP ow

= = = ! OF THE nation’s largest holding companies beat a line which expires today. From n. investment bankers who stock of holding com-| the public must bid for sack competitively against underwriters investment idea Elect

- -n — »

oo » &

TWO e431 Phelps Dodge .. 27%, Phila Co 6 pf 3

ice

lo Gy NE aN ly - - Noes

4 | Month Age

Co wT HRD pe CT IY] Fy NBD DY CD NN J CD en OB ln 0D CH »

Cops dnCOrn adhS BID _ ara th

on Corn OO pr hn Gd bn ou) ND I Cad wT DD be FY CY wr

20.65; Low,

on yu -

Am R Am Am

bankers don't | is ric Bond & | Co and its subsidiary, | Gas Corp. yesterday filed intention to issue $75,000,000 nds and North American Co the deadline by announcing a 000,000 refinancing program

” ® ” ODDS AND ENDS: U. 8S ve a debt of 150 billions when wa over, believes H. W. chairman of National of Manufacturers. . center of America’s is at a point eight rtheast of Mansfield, O. Scrap rubber shipments to occupied China are now ne to prevent reshipment nany which reclaims much rubuse. . Treasury SecMorgenthau Jr. says| defense savings stamps has 1 he has ordered 20 mil- | more stamp albums. He said t have any exact figure on us far. . RCA plants in| apolis, Camden and HarriJ. have $36.500,000 worth of 750-1100 pounds

Tuesday, May 8 HOGS

Barrows amd Gilts pounds 3 pounds . “nh pounds pounds pounds pounds pounds pounds - 0 pounds 30 pounds

160-

— Ors By no »

hs | High ve Freept-Sulphur.. 35

1 |

v | | Gair Robt bof.. yy | Gaylord Cont .. Am Inv Electric

nH = on hy >

™ :

nited

>» oo

| Purity Bak

Ce Blatt si... . > IRBGIO pF ....... 5 Ts

4 J h NEO 08 Ls aren nen DEIN

3 J had 3

» ’

ry © Do n 353353295

| Republic Sti vere 5% pf 6 Reynolds Tob" B ile eo oll ...

9% 05.08 05 05 00 06 08 «3 <5

09 Desosmon SBLES3D

9 PRP

”

may

05 93500000005 0000808

>» @ Sg

200 pounds

Packing Sows ood and Choice— Good 32

-1

ped

Atlas Corp

Aviation Corp . Gillette

Gimbel Bros .. Glidden ...... "| 80 oirich p N raham aige. Balt & Sle... o Granite C St.. {Balt & O pf.... ig Bendix. A nee. 85° 57 ee | Gt North pf... ndix Awvn ... ? 7 ihe ! ren Beth Steel .... “ | oresann Cp ‘ 8 |

Tis

Bald Loco ct...

“4-108 8283

330- 360 pounds Good — 360- 400 pounds 400- 450 pounds 450- 500 pounds Medium— 250- 500 pounds Slaughter Pi Medium and Good Lo wid 90- 120 pounds

CATTLE Slaughter Cattle & Vealers (Receipts, 2623)

(for the month but these, This: Year said, were seasonal, and less than | mxpenses $10, 0.335, 814, 447. 38 the normal seasonal drop. | Receipts : 9 Def, £305, 583,329.17 Xie general level of gains was] Net Def, 1628, 4¢ held down by a heavy drop in coal Cash Bal. 2.3: | Work. Bal. 1,591,505.753.12 mining due to the strike last | Pub. Debt 47.246,244,331.71 month, oid Tee. Ppl The percentage of gain in em- Oustoms .. 310,805. . . 3 : ployment in nonmanufacturing | : industries during March, compared Incorporations —_ 1| to March and April a year ago, Lando, - (wer: Retail trade, 5.7 and 13.3 per : jcent; wholesale trade, 6 and 3 per nl cent; public utilities, 26 and 7.5 “et per cent; quarrying and non- National Die and Stamping Corp., Elki; | metallic mining, 11.8 and 14.8 per "5 S'SRN"W te. 125 EB Columbia | cent; hotels, 94 and 6.5 per cent; |St. Ft. Wayne; agent, Chas. F. Paul, 2418

stry hoard of directors, CROFTON NOMINATED NEW YORK, May 7 (U, P)., — Charles B. Crofton has been nominated to head the campaign slate of the New York Produce Exchange, it was anrftfounced today.

% Need a LOAN ON YOUR HOME?

Consult Ue! ! !

! p & "| Skelly My | Smith A . | Socony- Vacuiin. h Pa

: “1949 NN Ba on AAS “2 a0 Mes -1 CD pt pt a 233 DO

8 ad

-3

2 217, 805, 889.22 $1,493,373,631.15 42678,017,543.40 18,793,177,564.687 297,807,023.56

J Harb Walk ... al Hayes Mfg ... 8 | Here Pdr . . | Hollander Son. 8 | Homestake ‘eh | Houd Her B Howe Sound *®

Borg “warner . Bdgpt Brass Bkivn-M T ... Bu Sh u g Burroughs | |Sauare D ..... Choice Bvers, M .. 8} $i 83 ..., {Il Central \ A 3 : 13| Std Brands 750- 900 pounds Byers pf 3; 3 bs Lo 9 + 5 |Std GRE 1To0. 138 pounds . + y%iStd O “es 100-13 pounds ~ 1,/Std Oil Ind 1300.1500 pounds Callahan Zinc. 1-16] nlsnd_ St .... it 3 us Std Oil NJ .. Good— Calumet & H.. 7 A . | Int Harvester . Std Oil Ohio .. Can Pacific 4 4 5 3 » Stew War . Carpenter 3 Studebaker Case J I . enin lh _t . i + | Sun Oil Stianese 1 - 1 i . .* | Superior un . Sa a8 x nt "14 | Swift ‘ jers on their books for communi- t *l sw : Webster St., Ft. Wayne; 535 shares of $100 4 jon and electronic equipment for 1100-1300 pounds Cent RR Mio wily Thu | lnundries, 53 and 127 per cent; | pa value. dealing in tobaccos. cigars, BLDC. & SAV.ASSN.

a 3 3 | am on. Certain-teed .. 3% A «we. {Jarvis Co ..... «+v.v - | Texas .C “iv 38 ¢ candies, ; Charles FP. Paul, Paul F. . 2] vessels and aircraft, portable 750-1100 pounds . d a am s% | Jones & X. ro [RLS = | dying fin cleaning, 16.7 and 21.2) candies, TTA a BR WR 116 N. Delaware St | apparatus and motion picture Steers, Heifers 4 "ees Tex Pac LT 8 4 + + | per ce Eherman, L. A. Van Camp J e

ole Official German | 300+ 750 pounds Tide W A Oil .. 1 So Un Gas Imp ...

"DNT - | Good~ Timk D Ax DNB says the Ameri-| Ce0d=e, onde . [email protected] Trans West industry pf 5 A s ‘ens ded WAT seen De 330 Somwith Edison 26% “iat : : + %ig 8 Plywood .. A A MWe lil Wits aE - 95! Cong Nairn ... 14% “eit r wes JM 4% : ; bh ; p . sO OQ ce t 8 b an A

has been boar Clark Bq ..... 34 } 3 £1 20th Cent the world market | chor Climax Moly Co 3: Twin Coach and | Cons Aircraft. 2628 Cigar

orce— - oO) Cluett Peabd that from | i50: J00 pounds ....ieectner Col Broadcast A i ne Ls - Und_Ell_Pish... ! Italian and Un Pacific 5.00 6.25! Cons . Coppernms Ks s Edison .... 19

Col Carbon "4 | Link Balt : Un Biscuit industries will Sgison pt 10d:s

for wail Henry

Leo Inc., Indianapolis; dissolun. Gunning, Ine, Frankfort: amendment changing capital stock to 20,000 shares of $5 par value and number of directors to 750- 900 pounds So 900-1100 pounds 1100-1300 pounds 1300-1500 pounds

Medium —

Jong 33% 333 533

So a8 HON PHOS aah a a 08 BO Orerars DIWW 3 ow

Aguirre os

WO DOOD Orerara gud Aen 1 3 73

1, | Kelsey-Hayes A. Kennecott basi Kroger G&B ...

utomobile pi flood 14 | Lee Rub ee products” X German, French automobile “co-operate to catch American leadership.”

CHICAGO GRAIN | Cutter and common..

Opening prices today on the Chi- Canner cago Board of Trade, as reported | by Thomson & McKinnon, were: May July Sept. Wheat—

LB .98 @.96'%

@.79 315% Venters ) ; : : Good and choice. . ¥ iiacereree 3 3 : Cotifioh ang choice

[email protected]

750- 900 pounds Medium — 500- 900 pounds Common — 500- 900 pounds

The Indianapolis Motor

Balls Beet (Yearlings excluded) Un Stores A eee Good Virginian Ry Wabash | Walworth Warner Bros .. WVaP&XRP.. West Pac pd ‘es West Air Bke .. Westing El .... Wheel Steel White Mot .... White Bew M .. Wilson & Co .. Woolworth .....

Yellow Tr .... Young Sheet see Young Stl Dr..

LOCAL ISSUES

Tuesday, May @

The following quotations by the Indian. apolis Bond & Share Corp. do not repre- | sent actual price of offerings, but merely | indicate the approximate market based on buying and selling quotations ot | recent transactions. | Stocks Ask | Agents Finance Co. Ine, com i Agents Finance Co. Inc. pfd 20 Belt RR & Stx Yds com.....

Seth setRsat tanta

Sausa $95. @.95'% $97 Corn

OatsRyve—

[email protected] L018 Mullins Mfg B. ay

4 33% 8 Murra

AROUND THAT BREATH-TAKING FIRST TURN AND ANOTHER BIG RACE IS ON!

S834 S59 {Crane Co ov ‘pt. Crown Zeller . ible St Cudan

| C art Pub. pr Lad Nae 25 Curt tiss-Wr . [email protected] 10.25 | Davison Chem. 0.300 10.28 | Dee Deere & Co .... Der Edison ee m 3.15@ 9.50 Dome Mines ... 15 15 1 iv 500- 900 pounds ...... A A “ens : Calves (steers) Du Pp " Goo. and ehoice— d wn .. .eee. [email protected] El P&L $7 pf... 33! A lin RIL Elec St. Bab ... 285 500 pounds down [email protected] | Eng Pub S Calves (heifers) Good and choice

Feeder and ‘Stocker Cattle (Receints, 169) Steers

WAGON WHEAT to the close of the Chicago market Indianapolis flour mills and grain pa per bushel for No. 2 rades on their merit) paid 66c per bushel for shelled new 2 vellow corn; No white shelled 70c: No. 3 white oats. 33c.

OTS d 8%

‘wheat other Cholce.

500- 800 p 800-1050 pounas ....

500- 800 pounds 800-1050 pounds Medium— 500

Te C and

ft ft td DOONI ID ree TOD 3 i

Da Distillers .

15% 15%

. | Nant News Sh. {IN ¥ Centrat ... INYC & St L pf.

“ress tssanane

331; 29% 3% 3% a | First N Strs 34%

CL LET 500 pounds down . [email protected] Flintkote - 12%

CY 5). dou MIPTMR Gh dows ... [email protected] Foster Wheel .. 144 Belt RR & tx [gs cn \ SHEEP, LAMBS (Receipts, 76) Central Ind Pow 7%) CIEE APY

Hi Emil Schram Adds Another EE wad [0 BSc Ey) 25@ 9.25 i : X hh : BEDROOM SUITE Chapter to Success Story In =",

Indpls P&L Sa ” jndb pls P & LIL. com pls Water 577 Lincoln Nat Life N Ind Pub Serv 5'z N Ind Pub Serv 8% “bth N Ind Pub Serv 77% pfd ess Laundry com ELS Te HE u ery. Co of In % D So Ind GXL i

2934 3% Ohio Oil 1; | Omnibus 13 | Otis Steel 7 14 ' Otis Stl cv | pt 46%

3434 12% 14%

343 12% 14%

Good and Shoe

Ewes Good and choice [Son and mediu

SWEDEN'S RAILWAYS 10 USE WOOD FUEL

STOCKHOLM, May 7 (U. P). — | Railroad transportation throughout

Plan to attend ... but if you can’t, you still can get EVERY THRILL of The Indianapolis 500-Mile Motor SPEEDWAY RACE Accurately Recorded by

Times Special WASHINGTON, May 7.—Fortune magazine for May, 1040, carried a picture of Emil Schram, a huge man with great hands pyramided before his face as he sat at his desk apparently pondering his then quite new job as chairman of the Reconstruction Finance Corp. The text beneath the picture pointed out that Mr. Schram was a

$1.00 WEEK Modern 3 Pieces

Smartly styled full size bed, chest and Ee vanity in choice walnut

{Sweden will be sharply curtailed |after June 16, when stringent regu{lations on the consumption of coal | {go into effect. | Measures have been adopted for a 130 per cent cut in the use of coal (and both state and private carriers) | vill be forced to resort to wood as| lengine fuel, necessitating schedule] changes due to slower speeds. After June 16 most lines are ex-

pected to announce schedules limited |

to three or four trains per week between any two points.

TO CIN

and 8:00 p. m. daily. Additional

Buses leave Terminal at 6:45a. m, 10:00 a. m,, 1:30 p. m, 4:45 p. m.

Indianapolis and Southeastern Lines, Inc.

CINNATI

trip 5:45 p. m. Sun. and Holidays.

“man to watch in Washington, for he gets along with both Democrats and New Dealers.” That has been |the secret of his success here, a | success story to which another chap- | ter was added yesterday when he was revealed as the new president of the New York Stock Exchange, |a $48,000-a-year job. In fact, since his arrival in Washington in 1933, Mr. Schram progressed so rapidly that no one |else was considered for the RFC | chairmanship when Jesse Jones

meas | moved into the post of Administra-

tor of the Federal Loan Agency to which he later added the cabinet post of Secretary of Commerce. Mr. Schram had been with RFC since his advent here and was a member of the board of directors when made chairman as Mr. Jones’ successor. He was born at Peru, Ind., Nov. 23, 1893, and is a graduate of the high school there. He went to work for a Peru coal and lumber dealer who soon assigned him the task of draining 5000 acres of swamp

p Terre Haute Feo a ptd.. Union Title Co co Van Camp MOK ota . Van Camp Milk om Laesenee 11 s American Loan 5s ar American Loan 5s 4& Citizens Ind Tel ns 6’ Consol Fin 8s 50

Indpls P & L 3%s 70 Indpls Railway ine » 87 Indpls Water Co 3%

Morris § & 10 Stores Ss 0: Muncie Water Works 5s 65 Nat Stik Hosiery 5s 42 N Ind Pub Serv

.100 .. 104% Bd JERE

27 vere 107% Be P RI" of oa 4

Richmond Saver Whe se LE Trac Term Corp 5s 57 .

% 8

WORD AND PICTURE in TWO SPECIAL EDITIONS

THE INDIANAPOLIS TIMES

Full advance details of the The Souvenir race and a review of Jormer events mailed before May 30th.

WINNERS—A complete re= porting of the world’s great est race mailed as soon as possible after the sweepstakes are finished '

|0c—MAILED ANYWHERE

The Final . .

F THE INDIANAPOLIS TIMES Indianapolis, Indiana (Do not send stamps) For the 10¢ inclosed please mail me the Souvenir and Final

Bus Terminal—Illinois & Market Sts. Phone RI ley 4501

LOANS

Oldest Lean Brokers in the State

Editions of The Indianapolis Times as advertised. (Print)

NAME CER AN NI NNNNRR ett RR II Rate Ie teRenRettRsstantRatane

ADDRESS CONRAN EN INR R RRR IRIN IRRNERRRIRE IRR CITY AND STATE SEPP RENN INNER antatr RRR RNY

If any of your friends desire these {wo editions mailed to them just include their names and addresses with remittance to cover.

land along the Illinois river. The way in which he handled this task made him the manager of the huge Hillview Farms in Greene County, Illinois, and he also was chairman of the National Drainage Association when he came here to become the first chief of the RFC Drainage Levee and Irrigation Division. He was Tater promoted to an RFC directorship and took over as chair-

Emil Schram . . . to head N. Y. Stock Exchange.

ALSE TEETH mata loc Le plaes Ra asi

wot a Paste. ca eT

today! At

EE on on Everything!

Diamonds, Watches, Musical Instruments, Cameras, AC Shotguns, Ete. 939, JEWELRY Stan married Mabel Mil-

co, he, ler, a native of Anderson, Ind. Dec. |28, 1914, and they have three sons,

IRL p/P) er

EN 10 AVOID DELAY AND INCONVENIENCE

lal:

| t ’ I THE £ AOGAT NUMBERS | | A |

The E. HICAG ST.