Indianapolis Times, Indianapolis, Marion County, 13 June 1941 — Page 33

SINESS

Government May Set Up Monopoly ‘to 1

‘Regulate Imports, Ration Supplies ‘By ROGER BUDROW - | THERE ARE PERSISTENT REPORTS that the Govfnment will set up a giant monopoly to handle all the criti 1 supplies this country imports and to allocate them to

hdustries needing them the most. Those in the rubber importing business have been ex-

ing such a move for some time. But now there is talk . Government import control will include other critical

Bems, such as tin, tungsten, pri and a few others.

"The original. difficulty stems back ® the lack of ships and lack of L American lines: have jaken over many .Pacific and South 2 “routes “served - Yes» sels which have now been transferred to transAtlantic runs—

“Unemployment

upplies.

Ameri formerl by Bri

nopoly .is

up,

' Roger Budrow

aheady head of the_two new govs ernment corporations which are ding up rubber and metal reerves in this country. Present boss pf shipping space is the Maritime Com on but that group has ficulty in knowing just what mpany is most ‘important in aking some particular defense

. Along the same line, there are are that a great deal of “%horse-trading” between industries #§§ likely. Radio manufacturers are ##alking about swapping such parts {@s coils, those who have more than “they need sharing them with those ed don’t have enough. Cosmetic anufacturers, who have been de-

ending upon oils imported from |;

ance, are talking about the idea,

® # ” CITIZENS GAS & COKE Utility =. claim, in its monthly house ran, “The Gas Flame,” to being Sigan, receiver and shipper of reight in the city. Last .year it d hauled in almost half a million 5s of coal, more than 5,000,000 s of gas oil, 10,000,000 pounds f sulphuric an mile shan a ll dion pounds of brick, more than .4.000,000 pounds of pipe and fithes and considerable quantities of ranges, water heaters, refrigertors, gasoline and miscellaneous The utility shipped almost 400,000 jlons of coke out last year, more than 11,000,000 pounds of amponium sulphate and almost 3,500,DO gallons of tar. The freight bill;

,000.

GENERAL MOTORS gave Fred Kroeger, head ‘of the Allison Dijon here, 1093 shares of its comn stock in April §s a bonus under t= plan, the Securities Exchange Commission report Bows, ‘With General Motors stock ling “around $36 now, that would worth around $40,000. The SEC report also shows that] s Hitchock Jr, the wealthy|

tern polo player, owns 15,606 Fok

5 of common stock directly in

rshire Patoka Collieries Corp, the|jnd &

%ig Indiana coa! mining company. erre Goodrich of Winchester, Ind., p is a big stockholder in the firm.

® B=

ODDS AND ENDS: Purdue rerts 70 per cent. of its graduates d jobs when they got their displomas last Sunday (60. per cent st year) and average starting alary was $136 compared to $119 year ago. Engineers were most demand, 9¢ per cent having pbs; pharmacy grads were 88 per nt. employed, forestry 89 per cent d agriculture 84 per cent. . . . ties business is so slow that

he New York Curb Exchange is 3 rying to rent four floors of its|In

OU Quick-freezing of

po try at the Bye Frosted Foods Corp. is

ng two months ahead of Mortis

hedule because the company inn it did last year. . . . There are mors that Edwin F. Chinlud, | ssident of Postal Telegraph, may offered presidency of Western nion whose Roy B. White stepped the presidency of Baltimore & Ohio Railroad. . . . The Government is expected, by some well-in--med trade sources, to set up an gency whickr would buy all the srude rubber coming into U. S.... bi f the East really has those “gaso-p-less Sundays” this summer, it l mean New York State alone lose $12,000,000 in taxes, the

s figure.

Nai AILY PRICE INDEX

NEW YORK, June 13 (U. P).— n & Bradstreet’s daily weighted ties -321 -

ve. index of 30 basic comm mpiled for Unifed Press (1 erage equals 100);

BABY ves vnesasnie sessncns 137.19 £6) 2000000 SRYTOIRRNNYS 135.97 ponth ago cevseiaerestncnees 135.08 hs . essanenne 116.69 high (June 11) seceeees 137.33 123.03

age ago ...

{IAL Dealers Hutnal

CASUALTY OMOBILE MARINE

Sr al I |

ew mre SRS

Bas

If such a moset it is expected that Jesse Jones will head “it because he is

Ft. Wayne plant of {pd

antimony, manganese, bauxite,

900,000 UNDER

Insurance Fund Increases to $43,000,000.

Nearly half of Indiana’s adult population — 900,000 — was covered by unemployment insurance last year compared with 790,000 in 1939, the Indiana Employment Security Division reported today. The amount of money paid out to jobless workers was cut almost in half during the year as employment and payrolls moved upward and employer contributions to the fund increased.

ance in the insurgnce fund stood at $43,706,024 compared with $34,025,614 at the beginning of the year. This final 1940 balance would have been “higher but. $3,189,000 was

Unemployment Insurance Fund.

The comparison by quarters: 1940 © Contributions. Claims Bohedss 40,932 $2,698,90 42,455 sal ess 87,217 $2,590,217 23.334 $1,416,968 | C

ad. 4th.

1941 1st.

$3,481,914 $6,055,151

$6,080,666

27,798

MARKET VALUE OF

the New York Stock Exchange de-

ing May, according to a compilation issued by the Exchange today. At the close of business May 31, the Exchange said, there were 1283 bond issues aggregating $55,533,776,568 par value #nd $52,321,710,056 market value, compared with 128 issues aggregating $55,678,595,902 pa value and $62,518,036,554 market value at the end of April. Average market price of all listed issues eased to 94.22 per bond on May 31 from 94.32 a month earlier.

LOCAL ISSUES

The followl tations ‘by - apolis Bond & & ohare Re Indian fens sie “the price or offer

ou. SE

Bid Ask

Ft Way Ind Ruse ‘Tel Co "edb Mich, Eieg 7 id

Hycro Elec 7 = Is P&L Sit. bid Indp P&L ndpls W

nea N Ind N Ind Pub rv. 6% Pp N Ind Pub serv v 1% pid Progress Laun Pub Serv Co or nd % pid.. Pub Serv Co o f Ind 1% pid. 120%

So Ind Terre Haute Elec “8% pid Union Title Co com Van Camp Milk pid Van Camp Milk co:

Ind

Algers, Wins'w, w BE 4%, 5%. 100 American Loan 3s American Loan 5s . Citizens Ind Tel Ss 61 Consol Fin 5s

olds-Taylor 6s 42.. ne 5%s...

to pack 60 per cent more|p.

Term *Ex-dividend.

‘Millions of Workers -

BENEFIT PLAN

At the end of last year the bal- \

$1,803,325 oh C

BONDS IS LOWER |

NEW YORK, June 13 (U. P).—|\c Market value of all bonds listed on |g

clined ‘more than $196,000,000 dur- iB

100% | Johns-Man .. | Kennecott ..... 37%

211.0.F ee. 38% 9812 1.04 Glass 8s 1: ”|Locknged” Atri: t 26%

Air Reduc Alten gine \m Car&F pf .

\meFPwr £1 pt 30

4 é & £ 4 Am 4 Am 4 4 4 A 4

Balt & Ohio. Barber Asphalt.

D Lac & W . Du Pont

3d, 1039 182% ee «28% 1% : fle Fajardo Sug ... 18%. 18!2 Pre SE las 1am Ferro oo 14 14 First .. 38% 3% Foster Wheel .. 15 15 Freept-Sulphur.

28%

Elec Auto-L_.. 1%

ec Pwr & Lt..

Gar Wood Ind.. Gen Cable Gen Electric ...

t repre- |G

JR LR EI Re Bde te ‘gelling Quotations of | Goodye

Grahi Am. Pai ra arms . Gt Nor Ore " GC North pt. c t Si

: 38h

Greyhod 5 a Gulf Mobile & O an

Ind Rayon Int Hyd Bl A .. 1 Int Marine. Int P&P Pt, ~~ Int Salt .

Int Shoe . eaten Tat Silver. Int T&T... a ‘sdvees 8a | e——— . 61: 61 me 3%

Loco

41% Hu om Mn Marine Md care 4% Martin Parey .. 914 Maso! atonite Corn.

McK & Rob. 3 McLellan St .. T Muitin 5D... 00 80 s ' 86% Ne

2 Star Cem.

Murphy

Nash-Kelv 4%

4 Nat Biscuit . 1 1 | Nat Dept St Bi. Nat Lea hy oh Nat aly» oy Bei4

03 15d

£5 Nat, up Whi: 4 Ya 198" Newpt New A om NY NYORBW. ne .

9 23ta S34.

Last ote

Bi EF HE

| Heavy his Week 10 the Iuird highest weve)

WPA Rolls Grow Smaller

— "15 | Year Ago

A Yesterday ecccevecss

: Sh ing, pt

| DOW-JONES STOCK ‘AVERAGES

Month Age .

High (1341), 188.59; Nowe 115.30, High (1940), 152.90; Low, 111.84.

Age High (1041), 29.35; Low, 20.54. High (1040), 32.67; Low, 22.14 : 15 ‘UTILITIES «oo 17.69 17.36

veeene

“est setssctantse

19.04 High (141), 20.65; Low, 16.82. High (1840), 20.45; Low, 18.03.

3 Net High Low Last Change V eo 5% Yi i” Te oon 43% LEX 1] 153%

1 9

hI CY 43% . an a

« 3-16 .. 72% 8

Seab'd Air L . 3-16 72% 3% 17% 9 Jah

12% a¢

Ya 17% 9 . 13% 12%

Stew-War ..... Studebaker .... Sunshine -Min..

Texas Corp . Tide W A Oil. 20th ertt-Fox..

Und Ell Fish .. Union B & P... 11% Union Carb .... 12 Un fl

[ J § U U 0 esas TOD sevens

Walgreen ...... Wars «%

West Air Bike; . Westi . 91

Wheel «2 White Mot ..... Woaiwer th ...

Yellow

Young Sheet vou 38% A : a « 13%

Zenith Rad 12%

35 CONSTRUCTION

AT A REGORD HIGHss

NEW YORK, June 13 (U. P)— construction = awards rose

or this : year, ' lifting awards: for 1041 0 dite £0. & watord Tigh, Bn

ginseng News-Record reported toSay hime for the current period,

ended today, amounted to $139,825,000, an ‘increase of five per cent from the previous week's figure of $132,570,000 sid a gain of 147 per cent. above the corresponding weelt’s agereante of $56,641,000. Public awards accounted for $110,“reflecting an

= %[ 9° 3% potind

. Choice—

Ch %2 | Good Th 900 pounds 0sa8Becsnsane

aed and ch Pn pounds Satan FPR {heiters)

Te nw geteoletmspipsiinct sso. belig amifeced awa, solich te tho ol weriis of the Task here: shortage Seeaters hecwuto of wraminrring ofl tenksts 19 the British Atismtio service.

N.Y. STOCKS -

By UNITED PRESS -~-r-.

PRICES ON HOGS

STAY THE SAME

21 Top Here Remains at $9.85,

Highest Paid Since Aug. 1, 1938.

HOG PRICE RANGE Top Receipts June 6 seatesednennnttecae $9.53 $8,657 June 7 cescecnsssssncescecs 950 2,000 RY 11.388 11,589 10.508 June 2 . ceeieen 7.308 June 13 specstscecs 8,012

Hog prices at Indianapolis Stockyards today held at the same prices paid. yesterday which were the highest here since Aug. 1, 1938, the Agricultural Marketing Service reported. “The top today was $9.85 for good and choice 200 to 210-pounders. Vealers were steady with an $11.50 top.

9.28 9.28 9.15

9.15 300- unds 108 330. 3 3% pounds 9.00 360- "400 pounds ave cesstsaence 3156

stant Natene

Medium and Good—

90- 120 pounds 1.85@ 2.35 C

Slaughter Cattle & Vealers (Recepits, 279) Steers =.

pounds .ieiiieies «+.$11.50©13.00 1 Sestanptccade 11.88 3.00 po! [email protected] noun!

Choice— 760+ 900

13 50- 900 Pounds

7 900-1100-1360 por pound e 300-1500 na

Medium 780-1100 vounds . . 1100. 1300 300 Paun 8 eee a see enee

Cot 100 1 pounds . Steers, Heifers

500- 750 pounds .....cieecees

800- 750 ,pounds . ceeane Beiters

280s tans 10.75 12.50 : i01201 i158 [email protected] : 10.008 10.78

«0 [email protected] [email protected]

oie 2.75

[email protected] [email protected]

[email protected] 10.35010.75 [email protected] . 8.25@ 9.50

« 8.28 « 17 « 6.380 « 5:80

Bulls (Yearlings excluded) sesernsennessnaneas 2.25@ 8.15 8.65

ae HG

7.78

T80- 900 pounds ese csogesnene Medium 500- £00 vourds: .. sessssteae mm 500- 900 pounds

8.25 6.50

;asdsenennnen log iio G8 stuans

teases nd i A888" Stocker ¢

lin about 150 open-hearth furnaces.

{back the wanted 10 000,000 tons

8 8.78 at 7.78] a

10 Jt oe Jo, bs., sd i EE be stored” o 1b., out, Seedy” 33

ensipte, 656 7 rt n ot - Steers | om Bounds Ft al § sings sguail 0 pounds Seitsaanennes ne 2.50 ) pounds Revissansis ol me 8.7% Calves ata)

fanedaseeasne se 88BaANeS as]

. I 00@13,25 sane

Calves and choice ) bounds . downy

ee 10.25@ ne

inateased Steel Capacity a » Line

Presents Long Chain

of Problems.’ By mun BEN WILLIAMSON: - — How

ndunced today by the MissouriKansas Pipe Line Co.

It said the settlement, armanged by “mutual Seresmens’”

, Columbia OI and. Gasol Co, rs had agreed of iis mice holdings of stock, The

a per cent that Columbia and Electric Corp. sell to Panhandle “at cost” _{the Michigan Gas . Transmission Corp. which owns the Detroit ex-

Bost by Panhandle of these properties,” it added, “will

Rr : back to a lot of uneconomical| make the Panhandle, line a com|and outmoded operations.

Fe Southwest to tion What is 10,000,000 tons of steel? consump It’s the stuff that bubbles and boils| Points in Detroit and surrounding ustrial cities in Michigan.”

3 AFG GETS FUND TO or en rr, oom eis” | VOMBAT AXIS TRADE:

But let's say we overcame the! WASHINGTON, June 13 (U. PJ. immensity of building those open|—President Roosevelt yesterday hearths and the soaking pits and|signed a bill increasing the lending | Il the mammoth ladles and the other|power of the Reconstruction Finance tools—all of which would take more|Corp. by $1,500,000000 to equip than 4,000,000 tons of steel to pro-|to finance more defense industries duce before we could start Jetting and combat Axis commercial venJoo of tures in Latin Amen. The measure expands existing To feed those ‘open hearths for a| RFC authority to create defense year we'd need some 6,000,000 tons|corporations and authorizes it to of pig or molten iron, pouring from “such other action” as may 17 more blast furnaces. The steel-|be “necessary to expedite the namakers will tell you that a blast|tional’ defense program furnace is not built in a day, or even a lng Program authority, however. 365 days. be exercised only to the extent Ordinarily, we wouldn't need that of "$200,000,000, and the Government much iron, because we'd be putting|is prohibited specifically from using more scrap than iron in the epen|this fund to proceed with the St. hearths. But now we're scraping the| Lawrence Seaway, the Passamascrap heap. Because—remember—|quoddy tidal dam, the Florida ship we sent thousands of tons of scrap|canal, the Nicaraguan canal and the to Japan and Italy on a “be good|Towbighee project. boys” theory. Another provision authorizes the

More of Everything Loan Administrator, to make loans

" What's the 6,000,000 tons of iron?|to a mn vernments or their It's 4,553,400 more tons of coke a|agents. 5

it down. And coke, thanks to the BETTER WEATHER GUTS WHEAT PRIGES

Republic has to have a long chain of plants—at Cleveland, Warren, Youngstown, Canton, Buffalo, Chicago, Gadsden, Maegan,

coal shutdown and present high consumption, is hard to oa hes days. That much coke 6,700,000 more tons of coal, out much. coal is a freight ban m= miles long. We aren't enough new freight cars hn aire current high needs, because shipyards are taking practically all the seat plates. es nearly two tons of ore make a ton of iron. So we'd ol. AL the end +o the first hour

11,250,000 more tons of ore. This wheat was % to 7% cent a bushel

: lower with July at 99%. Corn was year Cleveland will break all records|, to off %c: oats un-

in ore ‘handling, but 11,250,000 tons| op would ordinarily be a busy year. How to get this ore to Cleveland's docks? If all that ore had to come down the lakes, 25 of the biggest vessels might be enough. And more freight cars to haul it some bridge cranes to store it. The crane makers already are at least a year behind defense orders.

Wheat prices yielded a cent a bushel on the Chicago Board of Trade to247} before support checked the de-|j

% to up ic, and soy beans were|ge} down % to lie. - Wheat dipped fractionally at ‘the outset under scattered selling in-

sion of losses:

REPUBLIC TO BUILD STEEL PLATE UNIT

HOBBS NAMED PRESIDENT

DETROIT, June 13 (U. P).— Charles F. Hobbs, State Commissioner of Insurance for Kansas, has| Republic Steel Corp. announced tobeen elected . president of the Na-|day - that construction will start tional tion of Insurance soon on a new ls for increased Commissioriers- to succeed John C.[production of steel plate at the Blackall of ‘Hartford, Conn. ; company’s 98-inch strip mill here. approximately 380,000 tons a year

OTHER LIVESTOCK and the new pment will in-

CINCINNA ATI, June 13 (U. P) Hogs crease its total output to 600,000 100°" go foul, So. high het” than yesterday; | tons annually. The company said and good Irom ithe new unit ably would be in d grade Shivked production early in the winter.

to “divestment” ht ‘ Panhandle

jt | during May

RFC at the request of the Federal

cis CHICAGO, June 13 (U. P).—

changed to: cent lower; rye off} we

Jubilea CLEVELAND, June 13 (U. P)~—

The company is now producing |existen

NEW NEw YORK, June 13 @. P)— .shipyards are vering A n> Yoo

sot $22 | unequalled since the ‘ship a. day”

boom of the first World war, acSoriing ta.the, American Bureau of

it sald, | May

month, the Bureau said, the nation’s shipyards had 890 vessels under construction or under contract, representing a total of 5,797,970 gross tons. At the

. In the first five months: of 1941, according to the Bureau, the shipbuilding industry completed 33 ships aggregating 265,068 gross. tons agains only 19 vessels in 1940 pe-

est new. contracts awarded went to the SeattleTacoma Shipbuilding Corp. and the Western Pipe & Steel Co. The former received an award for thirty 8900-ton cargo. ships and the latter for 17 vessels of the same tonnage.

WHOLESALE FOOD PRICES GO HIGHER NEW YORK, June 13 (U. P).— Wholesale food prices for the week ended : June 10 advanced to the highest general level since March 30, 1037, Dun & Bradstreet, Inc, reported today. The company’s index of 31 basic food commodities rose to $2.97 for the latest week, compared with $2.96 in the previous week and $219 in the corresponding 1940 week. Prices of flour, wheat, rye, mess pork, lard, coffee, cottonseed oil, cocoa, steers, hogs and lambs were higher. Corn, oats, barley, butter and potato prices were lower.

Incorporations

The Perpetual Bull Chalmers atrio

and Loan Asso-

te Patriot; dissolution. First State Bank, ary: dissolution enzade Products, In

] LO 0 poration; admitted to TnGiana to Wholesale chemical specialties in the Sele of speciale cleaning i Réfin

and sierniatio Maine em Tn Bae 8. sii

Hube Shi” 5" thrporagion; 9 os \ no Ave... hiihare ry American’ Nat Ap

Association of 1118 8. S$ Ft.

hou Tonaties J. fin iy BOR . DF. Leo Fr, NVatnon In Life ha Trust, ‘Tea g and vo Co., y. dee: eres 3 court fo

Tad. ernon Ine

duced by better weather conditions La away. And|in the Southwest caused an: exten- to, ¥

EE Sheridan Packing Co.. Sheridan: The ational Fishesta, A Fisher re ING; Angola ; no ‘capital st prom Shing a

nd conservation Dye life; E. Klink, George Biutard ‘He! Fey

a Re Co., Gresnsbuigs amend- ) wt) me Jes Trust perpetual en amendment J perpetual ple

pro existence, Peo] Rank and Trust Oo, Mt. Vernon; amendment providing perpetual -

ce M dison Safe Deposit and Trust Oo. adsion amendment providing pers retual existence.

Amerian Trust & Savings Bank o> Whiting, Ind.; amendment providing 2 petual xistence Sun n Farm and Dairy

: to of a Myers.

i aE] oad lots Soin fai $104 75; best weight old a s1i@u as oles Pie steers around 930 1lbs.. $10

oad §-1b,

5 1304838; on bu rs mostly st

Luteo i

relght 8 0@

417 CIRCLE TOWER

HE he Er ter ewes, 32.3003 50

CITY SECURITIES CORPORATION

Investment Bankers

derma a : Ind; amendment chang! ame to Suny Farm; Inc. : : } : ! =

LINCOLN 5535.

. Don't Miss This see w

eS _ Single or r- Doubles Breasted Models .==Tans, Browns x and Greens Here's uy fine quality and ‘a world of style at a tre- : savings! They ep) ou cool it C . the : Smt, !

a aR