Indianapolis Times, Indianapolis, Marion County, 21 May 1941 — Page 9
sh iis TR mI SRRRET ENS, OR
5,
£ 5 8
‘Toledo over in Ohio.
What have they got to 8o with : defense? The rearmament pro1 gram is like throwing a pebble into : a pond—the effects are washed up on many a distant shore. It began several weeks ago when the British were in great need of oil tankers. Some of our biggest oil cmopanies, at the GovernRE ment’ss request, turned over Roger Budrow tankers to the British—25 of them. That meant there weren't enough tankers’ to haul crude oil from the ports along the Gulf of Mexico (piped there from interior oil fields) to the big yefineries in the East. Yesterday President Roosevelt told Congress there is a possibility that oil consumption will have to be restricted in the East, unless laws mre changed so more pipelines can be - built from Southwestern oil “fields. But it will take time to build ‘$hose oil lines. In the meantime the oil is flowing in increasing quantities through the pipelines that traverse Indiana. One line alone can send 25,000 barrels a day. In the opinion of oilmen here, {¥he pipelines’ now face one of the [diggest jobs they've ever had to do. “Barges plying along the Ohio, itrucks and railroads will be called upon’ also to help. n » 8
MOST. CHEERFUL bit of news ithe steel industry has had in many ; imonths was the announcement that the Government may “unfreeze”
isome steel prices. 5 oe Control and Civilian Supply beginning to wonder if the steel akers weren't caught in the middle £: hen they granted labor a 10-cents a “an hour steel raise and then, the dpext day, had theif steel prices {krozen by the Governient.
» 2 ®8 i THE GOVERNMENT may go into #he aluminum business. Reports ~ rom Washington indicate that $300, 000,000 will be invested in a
imew plant out in the Pacific Northwest which could turn out 500,000,-
i A $
o-
000 pounds of aluminum a year.) ;
Cheap Government electricity from i$hie Bonneville dam could be utilized. ‘But officials estimate it would take io _year/ and a ‘aluminum could be turned out.
i. 2 2 8 ODDS AND ENDS: Dealers in ithe , Detroit area have already re-
‘ceived some of those new six-cylin-‘der Fords. , .. Chairm Fly of the . Jrederal Communications System is #gain urging a merger of Western ‘Union and Postal Telegraph. « < . 10ld copper mines in Arizona are %eing surveyed to see if they're awvorth reopening. The metal is heeled badly. . . . Brazilian tire makers are complaining that U. S. As getting too much rubber from that country—they need it them‘selves. . . . Tallow prices are going igher as soap makers continue to uy heavily. . . . Chief beneficiary of e price ceiling put on combed cot-
n yarn (by the Government) will Cu
e the U. S. Army because so much
ombed yarn goes into twill cloth.
which, in turn, is used for Army ch Juste and trousers.
{THE NAME IS NOW i AERONCA AIRCRAFT
: MIDDLETOWN, O, May 21 (U.
.) —Stockholders of Aeronautical |™®
rp. of America voted at their anual meeting here change the ame of the company “imimediatey” to Aeronca Aircraft Corp. Net income of the corporation for 940 showe da sharp decline from 2939 because of two complete shutflowns caused by floods at the com=any’s former Cincinnati location f#nd a six weeks’ suspension of opgrations while moving to its new iddletown factory, President Carl iedlander told stockholders, 3 Net. income for 1940 after taxes amounted to $23,468 compared with $2 261 in 1939. - Mr. Friedlander. said - that the $lant's present capacity of - 150 lanes a month will be ‘increased 240 planes upon completion of expansion program now ynder way. No shortage of materials is
jmpending, he added. DAILY PRICE INDEX
¢ NEW YORK, May 21 (U. P)—|
un & Bradstreet’s daily weighted rice index of 30 basic commodities, mpiled for the United Press (1930§2 average equals 100): Yesterday .......ceco00000...135.56 Week AZO «cvcvveenssesenes.135.43 Month AZO ...coeeeceececsss.128.59 ear Ago eesssssss. 115.83 941 High (May 20) ..-......135.56 941 Low (Feb. 17) .......... 123.03
in Cosoperation with the Defense Program
~ AMERICAN ‘NATIONAL BANK
at Indianapolis pennsylvania and Market Streets
The Office of |,333; 36
half before any Aa
‘Reynolds Metals Co. would operas 3
‘lended May 3 sales
U. S. Turns Oil Tankers Over To| Britain and Pipelines Are News By. ROGER BUDROW-
! A DRAMA OF DEFENSE AND BUSINESS is going on . almost under our very noses. But it’s not the kind that is i glamorous or that usually reaches the headlines. J "Crossing Indiana from the southwest to the northeast i are four big pipelines. They come into Indiana around Terre + Haute after cutting across the southern part of Illinois. They mkirt Indianapolis on both sides and head for Lima and
It's oil.
FEW HOGS SELL
But Prices Remain Same on Most Porkers Here; Top Is $9.35.
HOY PRICE RANGE Top Receipts ..$9.00 9,177 ceesecsconnsccces 9.15 10,25: May 15 ar, 9.05 11,935 May 16 ese0ececvscscssssess 9.15 8.245 May 17 sessessescccscssesse 9.15 1,500 May 19 .i.ceoveeees 9.25 9.682 May 20 ... 9.40 10,746
Hogs weighing between 300 and 400 pounds were marked up five cents at the Indianapolis stockyards today but prices on all others were the same as yesterday’s, The Agricultural Marketing Service reported. The top held at $9.35 for good and cholce 200 to 210-pounders. Vealers were unchanged with the top remaining at $11.50. The marketing service estimated 900 salable cattle were received here today, 700 calves, 10,000 hogs and | 200 sheep.
May 13 ceceoeacsenseseele May 14 ..
0000 sppceesnene oe
Tuesday, May 20 .HOGS and Gilts
ANOS OMO nn
300 ti S00 330 pounds 330- 360 rounds ..
00D OO BRNw™ QUIN NONOOO
®evccvecves
0 999909998 - © DVOOOOOVODR DOM WWI
160- 180 pounds Packing Sows Good and Choice— 270- 300 pounds 300- 320 pounds ...ecec0eee . Sane 360 pounds . 00 — 360- 400 pounds .. 400- 450 pounds nd S00 pounds
Me - 500 pounds
Slaughter _ Pigs 3
Medium ug. Joes 980- 120 po
» oS on
1.40@ 8.35
Slaughter Cattle & Vealers (Receipts 216%)
Steers Choice—
ee cesses . sece00s0ese
750-1100 pounds .... 1100-1300 bey
9.0! Hr4 1 9.75
ss000scsssese
mmon— 750-1100 pounds ...eccccecee . Steers, Heifers
pounds .....
750 pounds .... Heifers
oi & ' Cr 00 pounds ..ccess0se00 10.75@11. 50,
750- 900 pounds sccesescccces [email protected] Medium: 500- 900° pounds seo000csntece 500- 900 pounds 0980000000000 Sows
Cholco— 500< 750 500-
"8.000 9.00
Medi Gutter and contmon
3 (Yearlings Buns used Beet 3 * i
as Shr tere eeinianiinsnes
goo . Cutter and common. alers
Good und choice Comon and medium
Feeder and Stocker Cattle Steers (Receipts, 1029) Steers
10.25 10.35
11.25
500-300 ‘ pounds 11.5
snarih 50 pounds
500- 800 pounds 3001859 Pounds
300-1000 ) pounds 500- 900 ) bounds
Good and choige— 500 pd
sesee000 dre sece0 cose
e00e0@0000c0e ®ececcscccere
9. 5509103 10. 3 8.75@ 9.50 1.750 8.75
11.00013.00
500 pounds Sq ’ [email protected]
ves dniters ) Good and ehgise 2 8 Tounds, down. . 500 pounds down [email protected] SHEEP, LAMBS (Receipts, 687)
Lambs (Shorn) Good and os Medium and £00 od Common ....
Good and BA Ss Common and medium.
CHICAGO LIVESTOCK
Hogs—Receipts, 10,000; market opening strong with best time or early market yesterday; good and
@9.40; early top, $9.40; some held higher. Cattle, 11,000; calves, 1000.
CHICAGO GRAIN
Opening prices today on the Chicago Board of Trade, as reported by Thomas & McKinnon, were: wh May July Sept. $1.01% $1.00 @1.00% $1.00%@1.00% 4% 3536 59%b
BUSINESS AT A GLANCE |e
Abitibi Power & Paper Co., ’ and wholly owned subsidiaries, exclusive ' of Provincial Paper, Litd.,
in -1939. American Stores So 13, $12,430,489 year ago, up 11.4 per cent; 17/weeks sals $47,126,275 s $43, 6 year ago, up 8.4 per cen - American Type Founders, Inc,
March 31 met profit: $301,283 equal to 53 cents a share vs. $89,591 or 16 cents previous year. Electrolux Corp. 1940 net profit $1,397,165 equal to $1.13 a common share vs. $1,658,469 or $1.34 in 1939. R. G. Le Horneau, Inc, four months ended April 30 net profit $1,032,590 equal to $2.29 a share vs. $585,581 or $1.30 year. ago; April net profit $326,408 VE. $195,783 year ago. National Power & Light Co. and
047 equal to $1.31 a common
} '| vs. $7,805,367 or $1.12 1939; Decem- |g | |ber quarter net income $2,627,304 equal to 40 cents a common share
41 cents year ago.
5 CENTS HIGHER
Be 0 Beth Steel ..
Ci « [email protected] Pa eseesses [email protected] &0
0 | Food Mach ...
we. [email protected]| 7
Marin (Glenn) 3 choice . 180-330-pound weights, $9.25 | May
1940 earnings $3,687,505 vs. $1,660 001 Ind
five weeks I 850,167 - vs. | nap
and subsidiaries fiscal year ended Eu
Zorninger, assistant Flint regional
manager.
BANK LENDING
AT NEW RECORD
Feder: Reserve ' Members’ Total 1s $61,000,000 In May 14 Week.
WASHINGTON, May 21 ~0. P.) —Total loans and investmets of Federal Reserve Member banks in 101 leacling cities rose $141,000,000
.|in the week ended May 14 to a new
High sales executives of the Chevrolet Motor Division were in Indianapolis today directing the Natiohal Truck School for Chevrolet truck specialists arriving at the airport yesterday from Flint, Mich., were (left to right) E. A. Nimnicht, division assistant sales manager;’ W. J. Hanlon, Indianapolis zone manager; W. E. Holler, general sales manager of the divisionA. F, Young, regional manager, and F. E. The truck school, attended by 82 truck specialists, is being held at the Chevrolet Commercial Body Division and at the State Fair Grounds,
,
YC Net . High Low Last Change
Adams-Mil 20 Allegh Corp +... Allied Stores ... Alise Chal San k N
FE be EL
Cc 20% AUG &"% 1 bi 310 Aviation Corp.. :
Bangor & Ar pf 24'2 Bath Ir Wks ... 3th endix Avn n. Ind Lok an.
{++
ita 11
law-Knox ] liss&Laughlin. 3ond Sto Fa Jorden
9 15% 20%2 19% . 16% ] Mfg .... 19% ullard 30% . 16%
L444:
Burlington ™
Cal Packin Calumet & Can Pacific Capit 2d of A Case
Glew a h B: 2878 eve Grap. r a * Climax Moly Co 36 cst 3 18% ov Ya Js . ; 251, ' . 18 1
DAH HELE LE HE
[email protected] | Gro
Cutler-Ham
2 Deere & Co .. 0
East Kodak
31rd
Evans Prod ... 6% sone Fed Min & S . 243, 243 Firestone T ... 157% 157% oe 25% 285
6%
+++
Gen Baking ... Gen Electric ... Gen Motors ... Gen Tel ....... Gillette S R .. Goodrich Goodyear 17% Grant WT ....
5%
Greyhound Cp.. Houd-Her “ea Herc Pdr 68 Hud Bay M & 8 16%
10%2 10%
Inspiration Cop. 11% Int P&P pf .... 67 —— Jarvis Co. .... 11 11 Johns-Man .... 58'2 58% : —K— Kennecott - 81 367 even Keysone Stl’ cave Kresge SS .... : aise sregnaiee C2u% 247% + % pis Leh PC pf ....111 111 L-O-F Glass ... 30% 30 Lion’ Oil Ret 1Ys 113 Arcft iz diraceocr. . i Ale 22 . 3% 3% 28% oo Loriilard 15% 18 18% Ff Lou G&E A nw Rt mr TL —M— 26%
Kress
117 t : % -B, Joshrafluu
1
g x Bu 10 a & y 1a Ys 16
. 16% Hny . 42 on Corp. . 8 one Tex Mo Pacific ....
LOCAL ISSUES
Tuesday, May 20 The following otasion py the Indian. apolis Bond & Corp. do not sent actual ro of offerings, but merely indicate the approximate market tqvel based on buying aq and selling quotations’ of recent trans Stocks
Agents A Co. Re. com. 1% nee ce Co., fae; ptd 3
Yds co & Stk ¥ds p Be iret: 4 Pov ne Comwlth osn. ook Sn » Home T & T iA ra ne 7% ‘pfd 50 d Asso Tel
Sr 104% fd....109 % ola ened
svc cose
is A oe
)} Waier er 8% pf Hi
zu be Ios SEN d Pub Serv 6 2
. 56 21 Ind G Terre Haute Feo 6% id Union Title Co com 3 Van Camp Milk pid ree Van Camp Milk €Om .c.coose J 11 Bonas American 2.0an 58 Bl.v.ceoece 99 American n bs ve0000+100 Oitizens Ind Tel 4Yes 61’ eees.108 Consol. Fin 8s 50 . 99 Sh a B43... 97 H Wayne b6Y%s 1.102 Home TAT Ft Wayne 6s 43..102
subsidiaries 1940 net income $8,874,~ | OTE
HERE
3 : ni Ey Bs 07... 10. Trae Sn Cup 2
seaspnes
-| Yesterday
8 Yesterday
8 Mont Ward ...
|Pac T &
% | United Cp pf. Un G 14
ai | Georee
1 Ba a
N. Y. STOCKS
» By UNITED PRESS
DOW-JONES STOCK AVERAGES eesesssssesssneses 117.65 41.50 Week AZO ....c.. sivsesssess 117.01 —0.20 Month Ago ; ooo 116.59 40.81 Year Ago ! +0.62 High, 1941, 133.59; Low, 115.30. High, 1940, 152.80; Low, 111.84. 20 RAILROADS
eeev0ssoncsscee
Yesterday Week Ago ........ ax vh vaidiae 128.27 Month Ago .... venga vis rene 28.36 Year Ago High, 1941, 29.75; Low, 26.54. High, 1940, 32.67; Low, 22.14. 15 UTILITIES
Week Ago Month Ago .... Ceissenasnies Year Ago High, 1941, 20.65; Low, 17.22. High, 1940, 26.45; Low, 18.03.
Net High Low Last Change 82% 302% 2% — % —N— Nash-Kelv ..... 37% Nat Aviation .. Nat Biscuit ... 15%
6 577% 343, 12%;
.
oliver Farm Eq 17% Owens 111 Glass. 41 Pace . 10 10 ees. 25 Cia ‘118 Pan Am a Alrwia il Paramt Pict ... 11% Penn D C pf Al 4173 Penn R ik 24 Pere Mqt Dpeins Phil Mor
++ | EEE
17% 41
Pac Finance . Pac G & =
odse. . 287
Sears Bosbuck. Oil
707 Skell 1g
| 1314 oo 5% ia 12 22 7 5 los {20% 40% 30
2 7s w-War 7 Stadehabor re
Texas Corp .. imk-D Ax _.. fimken R B.. [ransamerica .. [win Coach ..
+: | or
Union Carb .... Un Pacific Un Air Lines
+ aa
Pb
gi
aan
54 24%, 24} Univ Pick 1 pf. 14s He Yo
24Ye— 24% 13% 13% 25 Ss. 25%a
Yom
275 i 22Y, . 22
w
Vanadium Van Norm Mch. Van Raalte ....
FR
Falke oh ew.
Ves Oil & 8S... 2 Auto Sup. 263% est Union ... 24 esting El .... 90% oolworth .... 27% orthington a
sisssds ™~
Naa > aN
HE HE FE HE
Na
D+
Incorporations
Noblesville Canning Co., Inc., Noblesville; change of agent to D. M. Ream, 1214 MerSHants Ban J Indianapolis, and $n of address of principal office to 4 rchants Bank Bldg., Ind Ole. Sullivan County, urs] Electric Memp Corp., Sullivan; amendment and articles of Joorporstion. Public Ac nal * Sonehiy
Hal capi Dieterle, R. Kfar Mikesell Thompson, Greoffre L. Carmichael. Deep Rock Oil Corp., Delaware corporaHon; amendment of articles of incorporas
YR anes.0'Dantel, Ine., 101 W. Wabash Bt., Terre Haute; agent, George R. Ranes, same address; 100 shares no as Yalue: dealing in automobiles aly Sani lies:
George R. Ranes, | Joseph rge nes Peptolene Corp. of of Indians, vai Wi change of ad to R. PF. Box 232 and change. ¢ of agent to BE. Th " Harsison, Ine.
same ad Custom-Bilt * Pipes, Indiana; ils: Shange of addr eo 308 state Life Bia ress ta e ork Hotel, Indignapolis. : FEoy claware corporation; admitted to. Indiana to engage <4n- foundry, heat
.gertined
. treating. and ‘general machine shop busi~
ooh, Jackson, Sadhu Li (Tru fl, “8, - viding jor perpetual exis ence. my bia City. ode + di Colm» petual existence. TE NIoV: ne Jor Pere Trust Co., Brazil, amendment perpetual existen
d Trust
R. ryan. Paul G. Kra ‘Fhe Irvingion Hovions
dissolution. Sears, Roshmok
Co.. ation, on on mendmen ot! “articles of incor-,
Oldest toan Bickers i in
s | the transport % [senger traffic
New York corpor- || :
i The CHICAGO
MOE Wasi
WAR CASUALTY: STREAMLINERS
Shortage of Aluminum and "Nickel Halt Building of Light Trains.
By JOHN W. LOVE Times Special Writer
WASHINGTON, May 21. — No more streamlined passenger trains, those light and swift creations of aluminum, stainless steel and Diesel motors, those Zephyrs, Comets, Meteors and Rockets. The railroads will eoncentrate, instead, on freight cars, and these standardized, no new designs, no experiments. An era of railroad venturing in modernity comes to its close for the
and nickel is assumed here to cut off ordering more of the trains whose development has so distinguished the last decade on the
7; rails.
The 140 such trains now running will continue in service, of course,
land a few more now under con-
struction will be delivered, Sueh as
shortly. Doll Up the Old Also, there will be nothing to pre-
% | vent a railroad shrouding an engine and dolling up its cars to. make the |} train look streamlined, but the revo-’
lution of aluminum and alloys on the rails has been postponed. The railroads bought those luxurious trains partly to compete with Shs, whose pasas been growing 50 per cent a year. All that will happen to passenger travel by air is not yet settled, beyond the fact the lines will be able to make normal replacements. The future of private flying is still under debate. The “control” is the outlook for aluminum. The shutdown on new designs in railroad cars is forced by the need
* _|to build freight cars as fast as the
industry can make them. The roads
s | will have, by Sept. 1, nearly 200,000
more cars than they had two years ago, according to the Association of American Railroads, and to that number they will add 270,000 new cars in the following 24 months. Shipbuilders Get Steel
s| This will bring them back, by
1943, to their position of 1933, without counting the increase in the size of the car an dthe power and speed of the locomotive. There is no fear in the railroad industry of a car shortage if receivers of freight will unload cars promptly, but now htey are running into regional shortages of warehouse space. These are due to several things— the accumulation of strategic commodities, the inability of the British to take goods as fast as they were ordered, and the piling up of ammunition components due to the bottleneck in explosives. Everything in the defense efforts runs ‘round ‘and ‘round, and the effects ramify in every direction. In the face of the need for more freight cars, two builders of cars have recently had to shut down because they could not get steel plates. They complained - that the shipbuilders were getting all the plates and put the heat on the sadly beset priorities dfvision in the Office of uction Management here. “In view of the future need for ‘three or four times as many ship
‘| plates as the yards are now receiv-
ing, when they get to launching a ship’ a day next spring, the heat is being passed on to the steel industry.
AIR CONDITIONERS ELECT NEW YORK, ; May 21 (U. P.)— Edward T. Murphy, vice-president in charge of marketing for the Carrier Corp., has been elected president of the Aid Conditioning and Refrigerating Machinery AssociaHon, 1 was announced here today.
PV: | WZ IN A FLASH
AUTO LOANY|
20 Months to P-A-Y
il SACKS BROS.
OLDEST AUTO LCAN CO. IN INDIANA 110 W. OHIO 14
LT
on Everything!
Diamonds, Watches, Musical Instruments, Cameras, Clothing, Shotguns, Ete. JEWELRY i Ine.
duration. The shortage of aluminum
three the Southern will put on |}
record high at $27,742,000,000, according to the weekly ndition statement issued by the system to-
Ye. Member bank loans accounted for $61,000,000 of the expansion, while
$80,000,000. Commercial, industrial and agricultural loans were up for the third consecutive week, rising $36,000,000 to a new high for the movement at $5,604,000,000. New York City member banks made up $6,000,000 of the increase. Loans tob rokers and dealers were increased $1,000,000 at New York and showed the same gain at all reporting banks. Holdings of U. S. Government direct okligations rose only $42,000,-
a $50,000,000 rise in New York. Investments in Treasury notes by all reporting banks rose $12,000,000, Treasu:y bill holdings were up
$30,000,100 and holdings of Govern-
ment bonds remained unchanged. Inves ments in Governmentguaran eed obligations were up $18,000 00 at New York and $26,00,000 it all centers. Holdings of other :ecurities increased $5,000,000 at Nev York and $12,000,000 at all reporti ig banks. Dem: nd deposits-adjusted were up $62,000 000 in the New York district and $2.0,000,000 at all banks covered by the report.
LO |G JOINS FLICKINGER
Ken eth C. Long, who recently resign 1 from the State Bureau of Tests, 8 now with the John Hancock futual Life Insurance Co., associ; jed with Dan W. Flickinger, geners agent for Indiana.
OR YOU!
GOODYEAR TIRE SALE
JS AIIIE
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i What a buy! 13-plate, 65- « mpere hour. Guaranteed ¢) days against defective « rorkmanship ‘and material.
ASY=PAY TERMS
WALL-SEASON" ”
3EAT COVERS ‘0 FIT 1941 CARS
9 Keep clean and comfortablel Dress up your car with long-wearing covers. Can be cleaned on the car with seap and water.
FOR COUPES $198 ‘as low @S ce» Coaches and Sedans, $4.98
Top-quality “Comfort” ok ere from $2.98
Motgiota i!
3- mension ONLY
VITA-TONE $99 95
® New depth, ye ed perspective. “High-speed” noise interference eliminated. Matches your instrument pane exactly. Can be transferred xt car and wil fit
to ous ne 4 1 WiEK
perfectly. W AS AS Lo% small carrying charge
'+OU DRIVE MORE AND FASTER MILES IN SUMMER! GET THIS
SRAKE SAFETY SPECIAL NOW
ol move front wa Wo re ® rake drums
We wash front-wheel bearings with penetrating oil
ck bearings with Wares new fiber grease
We free-up brake system with penetrating oil
dust brakes accuWe bio and scientifically
wws]1d
GOODYEAR SERVICE STORE
627 N. DELAWARE RI -1436
5 =
investm gat holdings were’ increased | .
000 at all reporting banks despite
CONSTRUCTION W APRIL WAS COSTLIER
NEW YORK, May 31 (U..P)— The national average of construction costs intreased slightly during April after holding steady since last November, according to data issued today ‘by the- American Appraisal Co. The company’s index of construc- |“: 72%: tion costs, based on costs in 30 leading cities, stood at 213 per cent of the 1913 average during April compared with 212 in March and 203 in April of 1940. The small rise between March and April was attributed principally to an uptrend in labor rates which was offset in part by a slight decline in lumber costs.
OIL; PRICES RAISED % PONCA CITY, Okla., y 21 (U. P.) —Continental Oil Col today dnnounced a 10-cent per barrel increase. in Oklahoma and Kansas crude oil prices, effective as of May 19. hE em ———— ———————— WAGON WHEAT
and paid 69¢ ner No. ellow corn; No. corn, 73c; No. 2 white oats, 33c.
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NO RED TAPE—Consult Us.
TURNE BLDG. & SAV. ASSN.
f ~ 116 N. Delaware St.
—
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\