Indianapolis Times, Indianapolis, Marion County, 20 May 1941 — Page 18
EE Ee th trea Sia
. ‘Good und choice :
In
PORKER PRES | RISE: 13 GENTS
“Top Here Boosted to $9.40; © 10,746 Hogs Received; Vealers Lower.
HOG PRICE RANGE Top May 13 Gee00i0vetetsnsnes .$9.00 May 14 eteevsessssventne « 8.15 May 15 ceesvsesesescsssesecs 9.06 » May 168 ceceoesccsccssencess 9.15 May 17 ceevetcacsccscscsces 9.15 May 19 ... cessssssesae 9.25 May 20 .cocv0tcoercccecaces 9.40
Hog prices rose 15 cents at In- . dianapolis stockyards today, the
1,500 9.682
Agricéiltural Marketing Service re=
ported. The top was boosted to $9.35 for good and choice 200 to 210-pounders. Vealers were 50 cents lower with an $11.50 top. >The marketing service reported 2167 salable cattle were received, 1029 calves, 10,746 hogs and 687 sheep. Ih .
BOGS
and Gilts 120- 18 : $
Ssuhieas 8500989508
ven
‘Mediu “00 atReteete 160- 180 pounds covent i Packing Sows d and Choice—
LE 0 NNO OMe 3 oo e © VoLOOOVOON a Soba wel
360 4 0g. 50 3 250- 500 pounds Slaughter Pigs Medium and Good: 90- 120 pounds
® wow we & IB 388
- Slaughter Cattle & Vealers (Receipts 2167)
hol € 50-900 ounds csesasveneee $11.35
7 d 11.00 FEY % 900-1100 pPOUNAdS .ccecccnscse 1100-1300 pounds ..ecccsccscs 11.00 e 11300-1500 pounds eececcccsces 11.00 Th
00d— 750- 900 pounds cecceescceccee 10.25 1s 900-1100 unds sesoecscccens 10. 1.25 3 TY 00 81 11.00 9.00910.25
* 1100-1300 Pounds eseccescssese ; 1800-1500 poun: 875@ 9.75
UNAS ceevesccccsse 8.00@ 8.75
* Medium 750 “1100 Polos ee0cccsosance J200-1300 pounds sessecneshens
Com © 750- 1100 ) pounds .
8 Cholce— 500- 750 pounds ..... 0 500- 750 pounds .... Beifers
11.70012.90 [email protected]
J sssscsss
[email protected] [email protected]
50: 90 900 pounds
* Goo z 750= 900 pounds secsecescense Medium ao. Sie 900 pounds ccecocceccccce 500- 900 pounds escscccetOeeee Cows
8.000 9.00
8.00 8.50
7.75
er and common 6.50
Me uy
5 Je i HE 7.75@ 8.25 133@ 1.75 11.50
10:30 8.00
secee + 11.40
a Cutter Cand common.
Common and medium . Cull
Reeder and Stocker Cattle ha . (Receipts, 1029) fizgern
.Choice— ; “500-800 POUNAS .....ccsssss [email protected] Bo00-1080 re Cg | gil 38 : 8 oeessesasses 9.50010.35
sscescssesess 9.50 10.25 esssssscascees 8.75@ 9.50 mMmon---
500- 900 pounds a aeatases A150 8.78
ves Good and cholce— pounds GOD... . vv eeeses. 11.00013.00
500 bounds Sow. sees Neonn iGooa oe cpSalves ‘dh a Do Dounds dOWR ees roeeoe se [email protected] - [email protected] |
pounds down . SHEEP, LAMBS (Receipts, 687)
Lambs (Shorn) Good a and and good 9.50
Peat n Ewes (wooled) Good and na Common and medium....
LOCAL ISSUES
share. Corp. 6 ° the Indian. do not ene.
300-1530 Bovnde ‘Mediu hg 500-1000 pounds
;
3% 4%
Receipts 9,177 10,252 11,99 8,245
10,746
9.00010.25 | ,
k
By ROGER BUDROW Farmers who sell their grain at Indianapolis elevators must have been “fairly busy last week—and probably’ still are—cashing in on the boom in grain prices. Elevators here pad as high as 90 cents a bushel for wheat, 74 cents for new .No. 2 white corn and 70 cents for new No. 2 yellow corn. ~~ At these prices farmers hauled nearly twice as much wheat to Indianapolis as in the precedteh i : cord - . Roger Budrow pny Sp s Board of Trade figures. Corn receipts here rose from 231,000 bushels to 377,000 bushels and oats, rye and ‘soy beans also showed big increases. The boom was generated by Congressional passage and hints “the President would sign the new farm bill for loans at 85 per cent of parity. Under the act the loan basis for wheat will be a little more than 96 cents a bushel On the same difference that prevailed last year. between the farm and terminal prices, this would mean about $1.13 a bushel for contract grades of hard and red wheat at Chicago. Wheat futures at Chicago were above $1 several times. With hogs selling at $9 a hundred pounds, farmers-hauled more than 50,000 of them to the Indianapolis stockyards last week, compared with about 46,000 the week before. These prices were 35 to 40 cents higher than the week before and the highest since the war began in September, 1939. Government buying provided a big stimulant. Slaughter cattle were also higher with lightweight yearlings and heifers leading the way. with 25 to 40-cent gains, making them 75 cents to $1.25 higher ‘than 9 year ago. Lamb supplies. showed a tapering off here and the 15 to 25-cent losses were in line with prices at
BROWN RE-ELECTED BY CLEARING HOUSE
Arthur V. Brown, president of the Indiana National Bank and Union Trust Co., was re-elected president of the Indianapolis Clearing House A Association today.
ants National Bank, vice president;
Irving W. Lemaux, president of the|,n + Security Trust Co. treasurer, and
George C. Calvert, secretary-man-~ ager. The executive committee consists
of Mr. Brown as ex-officio chair-
man; O. N. Frenzel, president of the
Indiana Trust Co., and Evans Wool~-
len Jr, president of the Fletcher Trust Co.
TUNGSTEN OUTPUT GAINS 42 PER GENT
WASHINGTON, May 20 (U. P.). —Defense demands increased 1940 Tungsten production 42 per cent
Tungsten imports by 211 per cent,
50 | the Bureau of Mines said today.
The 1940 domestic production was 5120 short tons of concentrates compared with 3607 short tons in 1939. In 1940, the Bureau added, 9,666,228 of Tungsten were imported, compared with 3,111,629 pounds dur-
evel | ing the preceding year. Most of the
Belt RR & Stk Central Ind Pow 7% Comwith oan a ‘Hook Drug Inc ‘Home T&T Fe Wa » 1% pid 50 Ind Asso T
el 104% d & Mich Elec 7% pfd.. * Ind Gen. Serv 8% hte i... ghdnls Gas com ctvscesese 18 A Hyare Ts Sie? a : pis essnne In pls P&L 4% ©
£0 nd Jolte Elec 6% pres +101 Union Title Co com b 5d. Van y Mlk pf cecennce 81 Van Camp Milk com
shoe dee 11 Bonas
American an 5s S5l.....0.00 99 an an 53 46 ........100 tizens Ind rel 4Y%s 61 .....103 Sonasi etn olds Taylor 8s 42. 9 Ta e - ase ST Ft Wayne 5%s" : 103
ios 103
6 eee 20TH
;-101
100 109% a3 109 108 107% S
1 N Ind Pub Serv 3 i Tel 4%! Co 4 Bond ater oi 8s §1.. ac Term, Corp 5s 57 .......
LOCAL PEOOUCR
b: ved colored hens, 16¢c nen ;, Legh
2 3 io; 16c; White and ad 0 ks, 18¢; Colored breeds, 19c;
od Tc.
ter—No. 71037%4e: No. 3512@. at No 350; No: a ~ (F tram pickup ries quoted by the
{IAL Dealers Mutual
FIRE-CASUALTY . AUTOMOBILE INLAND MARINE INSURANCE for Careful Property Owners at Substantial Savings
i| Year Ago .......
ports came from China. , Tungsten is a strategic mineral used in making fine steel. The Bureau. said. that California replaced Nevada. as a leading domestic producer, but said California production figures were not available.
BUSINESS FAILURES
NEW YORK, May 20 (U. P.).—
to the highest point since late in March, Dun & Bradstreet, Inc., reported today. The level also exceeded the comparable 1940 period for the first time in several weeks. Failures during the week totaled 286 compared with 248 in the pre-
lceding week and 266 a year ago.
Failures with liabilities of $5000 or
week ago and ,134 a year ago. Canadian failures were 26 against 25 a week ago and 23 a year ago.
DAILY PRICE INDEX
NEW YORK, May 20 (U. P.).— Dun & Bradstreet’s daily weighted price index of 30 basic commodities
average. equals 100): Yesterday .... Weeg Ago Month Ago
vesssesenss ses 133.08 isssssasssvessvess 128.02
1941 High (May 14)...........135.43 1941 Low (Feb. 17)...........123.03
TRIAL POSTPONED NEW YORK, May 20 (U. P.).— Trial of five corporations and seven individuals on Federal, anti-trust charges in connection with an alleged international magnesium combine, detrimental to .national defense, has been postponed to June 2.
FALLON HEADS BANK NEW YORK, May 20 (U. P.).— Nugent Fallon, formerly general manager of the Federal Savings & Loan Insurance Corp., has been appointed - president of the Federal Home Loan Bank of New York, it|s was announced today.
4 Other officers re-elected were J. P. 8.35@ 8.75 Frenzel Jr., president of the Merch- [4%
above the 1939 output, and boosted e
SHOW AN INCREASE [cu g
Industrial and commercial failures |S in the week ended May 15 rose |Ge 15 per cent over the previous week 3
more numbered 128 against 106 a |fehman
Lorillard
compiled for United Press (1930- 32 N lL asm N
eresseivnse 115.90
\Boom i in Grain and Livestock Prices Stimulates
Business at Local Elevators and Stockyards
8
® wr 8
" & 8
Indianapolis Business Summary
Bank Clearings .......ccceeeues. Bank Debits y Postoffice Receipts .c.coecsseds. Building Permits ...cccccc00c00. * Houses Apartments ....cocccce00c0as Business Industrial Public Repairs & Alterations ....... Applied for Jobs ... Received Jobs oe Wotan s sesesnieses Claimed _Unemployed Benefits (May 19) Freight Carloadings: Inbound .... Outbound Electricity Output. (kwh) ....... Water Pumpage (gallons) ....... Streetcar Passengers (May 10) .. Telephones in Use (May 15) .... Livestock Receipts ... Cattle ...... Calves ...... HOES #ceoocsssssasccasssscscse Grain Receipts (bushels) ....o0s” Gorn WVNERE .voonsosiesrsunsinanee Oats .. ‘Rye Soy Beans
tre 000000800 CNIRIOTS
sere eccsceecsescsncas
000000000 0%000000% 000 ‘0000000000000 00000
eecc00000c00000
eco e0000000000000
ssccssvenee rin ssesencocscstecee
eesc0tone
Sources of above figures: Division; New York Central Railroad; (Monon); New York, Chicago & St. Indianapolis Water Co.; Indianapolis
Board of Trade; Center Township Trustee: Indianapolis
other stockyards. Any difference in prevailing prices this year from last are just about the difference in price of wool as shorn lambs are now selling at the same prices paid last year at this time. Indianapolis department stores, in the week ending May 10, reported their sales 13 per cent above the same week last year
otras
Net High Low Last oie
Abbott La
PHL
4; f 14:1:
At] C Line ..... 19% teel 89
H+
Bu 8 Butler Bros ....
Can Pacific .... 8% Qurpenter sii. Case f .
..117 Celane 20% hes + oy Ohio ot 34% hi Pneu T .
Chrysler oy City I & Fp Climax oly Co By Colum Gas .... Com Solvents .. 9% Comwlth & % Comwlth Edison ! 2B
ont Bak “eo Cont Bak pt’ . Crucible 5 vee 37 Cub Am Sug .. 4% Curtis Pub .... 1 Curtiss Wr .... 8 . 15%
8 Cutler Ham .. 15% eg
Davison a: Del Hud hes & W ... Dian" T Mot .. Dome Mines .
Dow _Ch Du Pont
"10 3s
7% 14 Ss --120% 140%
10 3% 7
14 120% Va 140% 140% 20%
18% 12% 103% 32% 3 “12%
—E— .. 29% 29% —fe
Eaton Mfg .
Fajardo Sug... 18%. Ferro Enamel. 12%
415
Grand Un xcts Grant W T Greyhound Cp.
Int M Marine.
6% 1/ 230s 241% Int T&T st 3 fe 18% 13% ie on * 13%
Keystone Stl ...
20Ys 12%, 13% 21 21 15% 15% oni 4% 7
q Carb Lockheed Airc’'ft
4% . 7 .o 20 ero 28% ee.o 16% . Ya . 323%
20 28% 16%
Ya . 32%,
No Am Avn Ha
Ohio ntbra Hains,
pf. Go.
Reo Mot vte... Republic Stl ...
$29,595,000 $24,430,000 $22,520,000 $65,997,000
233,710,000
Indianapolis Clearing
Louis (Nickel Plate);
, | SWiTt &
%| Tex G Sul 3
247 MASS. AVE. — We
BED BUGS? ROACHES?
Get Rid of Them Use Shur-Deth
TTR Fe EEL EE
Deliver— Phone LI-7459
Last Week Year Ago
Week Before
Last Week $ $60,410,000 $53,895,000 $102,457 $83,876 $393,485 $96,135 $127,600 $75,650 0 0 $245,200 $8,800 $1,000 $500 ei 0 $19,685 $11,185 1,729 1,038 812 #429
$03,008 $212,381 $130,300 0 $12,200 $12,000 ‘ 0 $57,881 1,483 760 1,433 1,316 3,256 3,069 1,731 11,313,000 213,880,000 1,361,374 | +236 57,641 6,064 3,484 46,141 1,952 218,000 231,000 6,000 24,000 9,000 8,000
3,569 2,234 13,613,000
3,341 2,279 13,675,000 200,560,000 1,456,311 +257 63,227 6,126: 3,515 50,419 3,167 484,000 374,000 18,000 66,000 12,000 : «14,000
1,447,442 +39 62,480 6,079 3,799 50,551 2,051 511,000 377,000 35,000 48,000 42.000 9,000
Pennsylvania;
while Milwaukee and Detroit reported 24 and 21 per cent gains, respectively. For the two weeks ending May 10, Indianapolis stores had a 23 per cent gain over last year-—biggest in the Seventh Federal Reserve District. The Federal Reserve Bank of Chicago's report reveals that for the four weeks ending May 10, Indianapolis. department store sales were
v
N. Y. STOCKS
By UNITED PRESS -
DOW-JONES STOCK AVERAGES 30 INDUSTRIALS +0.04 +0.07 —0.28 —8.30 High, 1941, 133.59; low, 115.30. High, 1940, 152.80; low, 111.84
Yesterday Week Ago Month Ago Year Ago High, 1941, 29.75; low, 26.54. High, 1940, 32.67; low, 22.14.
s Yesterday
Week Ago Month AZO .cccovecnee serene Year Ago’ High, 1941, 20.65; low, 17.31. High, 1940, 26.45; low, 18.03. - Std Sma 1 2912" ‘2917
Std on Ns vc... 36% 363 oo 21% 21%
Toe 0% 39% 3% 34 10 4%
fexas Co ex Suit “prod.
ride W A Oil.
Transamerica . tu
67%
Union Sars & as Un 80Y2 80%
Pac United United
U 8 Steel Virginian Ry pf 32
. 9 «118% 12334
Waldor} Sys .. W Pa pfs.
4Y, Yeu -118 . 32%
001w! . Wilson & Oo ..
Yellow T pf .
113 '11 Young Sheet . 32% 8
| GATHER FACTS ON
OIL TRANSPORTATION
"NEW YORK, May 20 (U. P).—
1The American petroleum industry,
at the request of the Office of Production Management, has pointed a fact-finding committee to make a complete inventory of available oil fransportation fadilities to the East Coast. This step was suggested by the OPM as a means of insuring future adequate supplies of petroleum products for the heavy industry areas of the East in view of the diversion of 25 tankships to the British service and the probable transfer of additional ‘tankers. More than 95 per cent of all petroleum used by Eastern industry
lis delivered by tankship and “ex-|*®
cessive = tankship diversion could; seriously cripple the normal transportation movement of petroleum to the Itast Coast” the A. P. IL
AIRETAIL ADVERTISING
RISES 3.9 PER CENT
tail newspaper advertising in the week ended May 10 increased 3.9 per cent over the corresponding 1940 week for the eighth consecutive
s| year-to-year gain, Advertising Age
reported today retailers in newspapers of 83 major
to 23,942,714 lines compared with 23,053,008 a year earlier. Linage| ome for the year to date totaled 387,106,-
period, en increase of 4 per cent.
EXCESS PROFITS TAX
George S. Wells, industrial accountant for J. D. Adams. Manufacturing Co., will lead a discussion on excess profits taxes at the Indianapolis chapter meeting, National Association of Cost Accountants, in Hotel Antlers at 6:30 p. m. to MOOV.
FOSTER NOMINATED NEW YORK, May 20 (U. P.).—J. Taylor Ioster of Spencer Trask & Co. has been nominated for presi dent of the Bond Club of New York to succeed, Henry S. Morgan of
$988,614,000
231,464,000 4,221,540,000
CHICAGO, May 20 (U. P.).—Re-|§iock: irate
Volume of ‘advertising placed by|D. cities in the latest week amounted
692 against 372,123,152 in the 1940|
WILL BE DISCUSSED |
1940 Thus Far 398,268,000
1941 Thus Far $457,242,000 $1,156,378,000 $1,851,609 $4,338,765 $2,059,025 $191,000 $740,024 $1,084,000 $141,400 $485,170 18,510 10,069
$1,770,424 $2,263,458 $1,436,430 $1,800 $263,992 $288,300 $64,729 $280,615 14,777 6,915 74,291 42,140 65,137 38,269 . 283,578,000 4,282,420,000 25,990,106 ,104,543 1,098,082 118,686 54,219 866,744 108,742 11,849,000 9,045,000 . 520,000 1,842,000 140,000 293,000
59,732 33,002
25,514,972 95,671 1,123,694 124,696 54,200 863,051 122,704 8,237,000 6,018,000 344,000 1,444,000 245,000 186,000
11.4 43.1 503 512 LL 429 51.5
+l+++++++ | 1 ++++++ + ++++
House Association; Indianapolis Office ‘of State Employment Security Baltimore & Ohio; Illinois Central; Chicago, Indianapolis and Louisville City Building Commissioner; Indianapolis Power & Light Co.; Railways; Indiana Bell Telephone ‘Co.; Agricultural Marketing Service; Indianapolis Postoffice; Federal Reserve Bank of Chicpgo.
18 nt above the same four weeks of 1940, just one notch ‘behind Milwaukee. At the end of last week there were 2895 cases of relief in Center” Township, involving .an expenditure of $22,472 thus far this month, Trustee Henry " Mueller reported. That compares . with 5439 cases last year at the same time and an sXpendiure of $58,677.
BANKER PROPOSES ECONOMIC UNION
NEW YORK, May 20 (U. P).— A post-war economic union between the British Empire and the countries of the Western Hemisphere, “for the benefit of all nations willing to co-operate on the basis of a sound, orthodox :economy,” Was .lurged here today by A. N. Gentes, |¢ assistant manager of the Guaranty Trust Co’s foreign department. In a report summarizing exchange conditions in export markets, Mr. Gentes warned that if Germany should win the war “we
of vassal states and to compete with
|a Nazi-controlled world economy
based on bi-lateral barter agreements, or accept the alternative
i policy of isolation.”
The foreign trade expert em-
of the outcome of the war, competition for export trade will be “keener than ever” when the hostilities end. He suggested that the United
s| States accelerate its efforts to build **,. lup mutual trade with Latin Amer-
ica, pointing out that these countries represent a potentially great
«| market capable of absorbing a large
part of the United States’ “manufactured goods.
+./ORAIN PRICES STAY
NEARLY THE SAME
CHICAGO, May 20 (U. P)— Wheat futures on the Board of Trade showed no change of importance today. Soy beans displayed independent firmness with all futures up to new seasonal peaks. Other grains were fractionally ‘higher. At the end of the first hour, wheat was off ¥% to up %c, May $1.01%. Corn was up % to lc; oats, up %
up 1%ec. Belief that the President will approve the farm loan bill continued to have some effect on sentiment. Traders, however, were also disto give consideration to the availability of new Srop wheat within a few weeeks.
Incorporations
Bock’s Amusements, Inc, Mishawaka; dissolution ’
i= Blitz & Conrad Oorp., Lafayette; dissolu-
The EVB Latch String, Corp., 3220 N. Clinton 8t., Ft. Wayne; age ent, George Oelfke, same address: 100 shares of $100 ar value; to erate tavern; George Jslike, James P. ee. Robert F. Egge-
W. Davis & : Ine., Illinois] co oration’ change of A to a ur
rdick, Kentlan a A 3 Ss (3 0 ca 8to [or= Erb. Clarence Stone, James Jordan
and. Sthe n Guest Machine Oo., Inc., Huntington, fy iso on Federation, In yne Jewis eration, Inc., Cal-Way 4 Bldg., Ft. VL Salo ns pay stock; raternal: Dr. N. . Louise
ns! J. M. Pinkelste! Lake Construction poo 7915 Johan
8t., Munsters agent, H Downey, _.Sr.. an Bt. Munster: 1000 ahiare
7847 Hohm without par. value: buildin and Jr. a “
Hetry = Downay, Sra J. B. Cour Friends DF The Library, of a t and Cass County. $ Lif: The. ‘ ee al way, Tt: no capital Sock: stimulate encourage wides! Ne Soren and oe, oh of the Ni oiftc K. Finch, M. LY tien. tingto:
Arthur Rubbe L ne Hun ubber Co,, Ine. Hun n; of address ¢ 0 115 Pennsylvania
‘lend Quebec areas and reported that
chanics,
would be compelled to look for-|,. :. |ward to a Nazi-dominated Europe
phasized, however, that regardless}
to %c; rye, up %c, and soy beans, |!
ARMY MAY BUY "FROM CANADA
Survey Committee Reports|” Dominion -Could Handle Large Orders.
WASHINGTON, May 20 (U. P.).— Aushoritative quarters predicted today that the War Department soon woilld place’ ordefs in Canada for munitions under the new Joint United States-Canadian “pooling for lefense” program. The forecast was made on the basis of an optimistic picture of Canadian output presented to Undersecretary of War Robert P. Paiterson by a special Army-Office of Production ‘Management delega-' tion that recently surveyed the Canadian industrial set-up. Members of the survey party reported that Canada has developed its | industrial production capacity for ammunition, explosives, powder, artillery and machine tools beyond general supposition, and the United states would be able to.place substantial order for swift delivery. The Army-OPM experts studied conditions especially int the Niagara Walls, Hamilton, Toronio, Montreal
much industry’ there was on a 24bour, seven-day week basis. Many of the factories are employing
women, whom, they said, are proving possibly be tter adapted to machine work tha, higher trained me-
RULES WAGE LAW COVERS PIECEWORK
; FT. WAYNE, May 20 (U. P.) In én unprecedented decision, Superior Judge George H. Leonard late yesterday tuled that the Fair Labor Standards Act of 1938 (Wage-Hour
law) was applicable to persons em- sald.
ployed on a piecework basis. Reviewing the claim of Bertha Wagner filed against the estate of Abe Field, and concerning the Ft. Wayne Sanitary Wipers Co., a firm by whom she had been employed, Judge Leonard said it was not the intent of Congress that the law? “might be so! easily evaded by such ¢ subterfuge as shifting employees from an hourly basis to piecework.” He awarded the claimant $247.12 for overtime between Oct. 24, 1938, end Feb. 18, 1941. In addition she was awarded an equal sum in Timidated damages and attorney ces. Judge Leonard said the court must take into consideration | the spirit of the law and the purpose for which Congress enacted it. He declared that the “only interpretation this court can conclude” i that “Congress intended that piecework employees should receive time and a half overtime, based (ab least) on the minimum hourly
SOVIET SAYS OUTPUT AHEAD OF SCHEDULE
MOSCOW, May 20 (U. P.).—Tass News Agericy reported today that production in many of the Soviet’s riajor industries already has bettered the schedule laid down for the
first five months of 1941 and that a number of other lines have filled their quotas up to the end of June. Tass listed the Starogrozneft and Malgobekneft oil trusts and the Soviet’s leading cement works in Dnieprodzerzhinsk among the industrial units which are running ghead of schedule for the JanuaryIvlay period. In addition, it said, the six-month drilling pregram on producing oil wells already has been completed liy the drilling department of the I.eninneft oil trust in Azerbaidjan with a considerable reduction in ¢perating costs. Several of Latvia's largest enterprises have made a- similar showing Tass said. The news agency also declared
lthat reports on over-fulfillment of|"
production plans for the first half af May are arriving daily from all arts of the Soviet Union, citing particularly the non-ferrous metal industries which, it said, turned out more copper, copper ore and zinc than ‘had been scheduled for [ihe half-month.
3EECH AIRCRAFT CO.
INCREASES WAGES |
WICHITA, Kans., May 20 (U. P.). --Beech Aircraft Co. added $500,000 to its. annual payroll today by increasing wages two and a half cents 1 lor all employees paid on an hourly had sis. The increase was announced as a yaward for the high rate of. production attained on twin-engined Beechcraft being turned out for nasional defense. According to terms of an agreement the company has with the machinist Aerounatical Union (A. F. L.) another wage increase will be due when another predetermined production level is reached.
FOOD PRICES
CHICAGO, 20 (U. roa PY: t0| itichigan sonathons. bushel, Tisegh tiatoes—¥lorida, 1 ugs, $ $3a3. 75 an filinois, bushel, 85c. Cauliower—Call- { crates, [email protected]. l= { . crates, 4043. fornia. crates. [email protected]. | mia. erate bushel, [2 scaks chigan yellows, $1.50@
Sc heise. ot e a XN dianapolis, an chan to to Perry E E. O'Neal, same addr 258 ue aRent
Stanley & Co. Inc. Elec
Morgan Hon will be held ai the elub!
ns
Indianapolis Bond ond Share Corporation frie Te STREET
{50=1b. ) — 75: Texas vellows, .31.80; Texas White
Waxed. d. [email protected].
on Everything!
Diamonds, Watches, Musical Instruments. Cameras, Slothinz, Shotguns, Ets. JEWELRY CO. Ine.
Du Pont Co. Pays A $32 Dividend
ties Co.—regarded as the “personal holding company” of the du Pont family—today declared a dividend of $3250 a share on ‘the company’s commo stockholders of record May 26. - As similar ‘payment was made on March 15. On June 15 of last year a dividen of $33.25 a share was paid. Christiana Securities Co. has 150,000 outstanding common shares distributed among less than 2000 holders, making a total distribution of $4,875,000 on the latest dividend. The company’s assets consist principally of investments in E. I. du Pont de Nemours & Co. and in General Motors Corp.
PULLMAN PREDICTS ‘BATTLE FOR SALES’
CHICAGO, May 20 (U . P.).—The Pullman Co., while devoting a large and increasing part of its attention to national defense, is making every attempt “to increase the sales and improve the quality of regular Pullman services and products,” employees were informed today *in their fourth annual statement. “The battle for sales,” employees were informed, “on which jobs, wages and dividends depend, will continue long after the battle for democracy has ended. In fact it will probably be a harder fight than before, because of the many new products, methods and facilities now being developed on a large scale under the rearmament program, and
{because the total market or demand
for such products and facilities may shrink ‘when peace is restored:” Sleeping and parlor car business is lagging behind other carrier equipment activities but large orders are being filled for armored tanks, howitzer mounts, trench mortars, shells and shell forgings for early delivery to both the United States and British governments, the report
In addition, certain plants usually devoted to construction of aluminum passenger cars have been turned over to manufacture of plane
parts.
BUSINESS AT A GLANCE
American Crystal Sugar Co. and wholly-owned subsidiary 12 months
h
9(equal to $2.17 a common share vs. $1,057,058 or $1.34 preceding 12 months. American Zinc Lead & Smelting Co. and wholly-owned subsidiaries March quarter net profit after Federal income taxes but before excess profits taxes $223,452 equal to 20 cents a common share vs. $79,600 or $1.17 on $5 prior] preferred year ago. Associated Investment Co. four months gross business $92,619,327 vs. $67,023,823 year , up 38 per cent. Gaylord Conta Corp. and subsidiary March q t profit after Federal and $211,838 equal to 26 cents a common
ago. Glidden Co. and subsidiaries six months ended April 30 net profit $1,033,811 equal to 99 cents a common share vs. $614,933 or 47 cents year ago. Pioneer Gold Mines of B. C., Ltd. 12 months ended March 31 net profit $720,047 equal to 41 cents a share vs. $484,917 or 28 cents preceding 12 months.
WN
The Colorado Vacation Section of The Rocky Mountain News is yours ‘for the aking. Send this . coupon today. The issue date is June 1 and you'll recaive o copy in time © complete your plane for
1720 Welton
. Name
WILMINGTON, Del, May 20.—| J Directors of the Christiana Securi-|
stock, payable June 16 to|
ended March 31 net profit $1,175,574)
income taxes 5
share vs. $201,122 or 24 cents year|Soh
sock EARNINGS
SHOW INCREASE
Profits Rise 14 Per Cent, Dividends 8 Per Cent, ~ Exchange Reports.
NEW YORK, May 20 (U.P). Earnings of companies with come mon stock listed on. the New York Stock Exchange rose 19 per cent in the first quarter of 1941, and dividends paid on those common shares were 8 per cent higher than a year ago, according to a study by “The Exchange,” official publication of the institution. “Examined by industrial gréups” the magazine “said, “the strongest earnings gains are to be found among the industries which have been stimulated by the national defense effort.” - The top group comprised 25 alle roads with an increase of 198.2 per cent in net income. The steel industry was second with a rise of 91.6 per cent. Other substantial gains in earings were recorded in the building; aviation, retail merchandising, and machinery and metals industries. Steels Lead On the basis of dividends, however, steel companies reported the biggest. rise, 131 per cent. Dividend payments by mining companies rose 36 per cent with the amusement, building and textile trades also re= porting substantial improvements. Railroads, although the biggest earnings gainers in the first quarter of the year, increased their dive idends only 7.9 per cent. Total dividends paid in the initial 1941 quarter by the common issues amounted to $437,407,000, the Exchange said. No dollar comparison with a year ago was made. “With capacity production in many lines of business, it seems" reasonable that many corporations will. continue to report substantial earnings and are still going to pay stockholders satisfactory dividends,” the magazine said.
More Selectivity
: “Selectivity, a term which one hears more and niore frequently in connection with the stock market, may become more extreme. But even so, potential opportunities for investment should not become limited to a narrow range of ine dustries, or for companies within an industty.” In the first quarter, the survey disclosed, 73 listed companies paid larger common dividends, 48 others initiated payments where they had made none in the corresponding year-ago period, and 273 paid the same rate. On the other hand 30 companies reduced payments and 17 eliminated deferred payments.
U. S. STATEMENT
WASHINGTON, May 20 (U. P.).—Gove ernment expenses and receipts for the cure rent fiscal year through May 17, compared with. a year ago: This Year Expenses $10,732,613,705.51 6 3 ,047,914.0 '559,565,791.51
4,513,139,241.51 1052,673,363.
Last Year $ 8,340,188,967.61 5 034,16 2.9 28.84
18,9817, '300,144,267.46
: A550
Customs..
INDIANAPOLIS CLEARING Clearings Debits
Up to the close of the Chicago market today Indianapolis flour mils and a elevators paid per bushel for red wheat (other grades on whet merits)
End aid os per bushel for shelled new No. a SHON Now: corn; No. 2 white shelled corn, 7ic; 2 white oats, 33c. :
o80000 Recececcesesesesnes
ong DENVER ROCKY MOUNTAIN NEWS
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