Indianapolis Times, Indianapolis, Marion County, 16 June 1941 — Page 17

THE INDIAN,

BUSINESS |

‘See Me First, Warns Leon Herdersin, : h You Are Planning - to Raise Prices’ By ROGER BUDROW —— : LEON HENDERSON, THE GOVERNMENT PRICE]

“POLICEMAN, has given big

intends to raise prices, it had better talk: the matter over|}

“with Yim first.

industry a warning that if it

The other. day he asked five automobile ‘companies

(Ford, Chrysler, Nash, Stude-|

. ‘baker and Hudson) to with- - draw their recent increases in

.car prices. He said if one in-

: dustry boosts prices, then another| will and pretty soon we will have 7a real inflation on our hands. And inflation is something that must he}:

stopped before

it gets a good start—any later is too late. Mr. Henderson admitted that some of the smaller automobile companies might be allowed to raise their prices be~ cause labor ‘costs and cost of auto materi- . als are higher. But the bigger companies, he said, should ; ‘hold their prices ‘where they are. Mr. Henderson said ‘he ‘would not countenance any increase in prices if it looked like the companies, in spite of higher cosds, were going to be able to maintain their usual profits, or if companies were raising prices because they expected higher expenses which * haven’t materialized yet. The five auto firms haven't repli yet what they intend to do. ‘Henderson said . if he pered automobile prices to go up, then the steel industry would be sure to protest because several

: Mr. Henderson

‘months ago, just after steel workers |

obtained a 10 cents an hour wage increase, Mr. Henderson froze steel prices. Steel makers complained then that they were victims of a squeeze play but the steel industry’s . earnings ere still considerably above last year. The same thing may happen with auto makers.

” = » SOMEBODY FIGURED up just how big Wright Aeronautical’'s new plant at Lockland (near Cincinnati), O., really is. Believed to be

the largest single story industrial plant ever built in this country (so far) *it covers enough ground for all 16 major league baseball teams to - play in eight games all at once with 30000 fans at each game. There ‘would still be enough room for a college football game. The plant will turn out 1000 14-cylinder 1700horsepower Cycline engines a month when all the machinery is installed.

5 » » » NEW ON THE MARKET: A “blackout street light” has a reflector shaped like an Admiral’s| hat which prevents upward strays

of ‘light from being visible to ‘bombers and gives off an “invisible” light which makes fluorescent . materials (sign posts, etc.) glow but net bright enough to be seen from the air. ~ A microphone can be used for broadcasting or for public address systems is worn inside the mouth. -Anr alternative form is a pipe, firmly grasped by the teeth, while still another is worn as a plate on the Yoo? ot the mouth. i

8 8. 2

_ opDS: AND ENDS: Canada figtires. it will - produce 500 million pounds of aluminum this year, compareq with 675. million pounds in .. 8. and one billion in Germany, 2 Financial Post reports. . . . Two eapolis flour milling companies, ury and General Mills, are using their machine shops to make parts for anti-aircraft guns and other war goods, realizing that technics of making flour, cereals and stock feeds won’t be changed much during the war, what with priorities being given metals for strictly defense work. , . . Cotton farmers say there is more boll weevil this year than usual. . . . Federal Power Commission Chairman Leland Olds thinks the Pacific Northwest, where the Government is building great hydro-elee-tric power projects, should have more steam generating plants. . . . An; Eastern shipbuilder has finally sold: to the Navy a yacht he built in 1930 but whose buyer got caught in the crash of ’29. . There are reports that the Nazi blitzkrieg of Coventry last winter was aimed at a big magnesium industry ethere which was badly crippled. . . . From now on the Commerce Department will keep secret detailed statistics about some of the U. S. exports and their destination, “in the interest of nationsl ‘and hemisphere defense.”

UTILITY WILL BUY LA PORTE SECURITIES s

WASHINGTON, June 16 (U. P.).| Er Exchan

~The; Securities & ge Commission has authorized United - Light & Power Co. to buy as much as ‘$3,000,000 ' debentures, either through open market operations or by issuing a ¢all for tenders The secunities involved are¥nited Light & Power's 612 per cent deben-

tures due in 1974, the 6 per .cent| Soli

debentures due in 1975 and the. assumed 6 per «cent debentures of - United Light & Railways Co. “ United Light & Power also has heen authorized to acquire from Ia Porte Gas & Electric Co., a directly. owned subsidiary, $190, 100 in

6. per. ‘cent debentures due in 1973/45:

which are held in a special depreciation fund. These debentures are|s

foe be Bought for cash a Principal

CRIGAGO GRAIN’

“prices today on thie Chi-

a MeKiiinon, vers:

isha $1.015%@1.01% $1. e1 5 5%0 ATH oe

of its outstanding|w

| of Trade, as reported by |

‘TAILOR-MADE’

Electric Furnace Uses More Current Than Two Skyscrapers.

By BEN WILLIAMSON Times Special Writer CANTON, 0., ‘June 16.—Steel is

Electfic steel is the advance patrol.

that patrol. Canton has more electric furnaces than any other steelmaking city. If you need a boost -of morale about America’s know-how in research, in production .of more and better and tougher steels for specialized defense jobs, branch off into the alloys. These are the “tailor-made” combinations of steel with chromium, nickel, aluminum, vanadium, ‘molyb= denum and other agents in hundreds of variations for specific uses—from

the tiny tubing of stainless steel for|AR

the Army hospitals’ hypodermic plate for tanks and destroyers, and for the high-speed machine tools that come into the making of all.

Slow Process

You don’t get these steels at high speed: A chunk ‘of 3-inch-thick

furnace at 3000 degrees Fahrenheit has to be buried for four days in a slow-cooling process ' before .it can go on to about five weeks of ‘the

shape it for the front of a tank.

on defense, you don’t have to look beyond the electric, furnaces. The allows used to represent less than 2 per cent of total steel production. Now they're pushing on past 3 per cent. ‘Take the 13 electric furnaces in Republic Steel Corp.’s Central Alloys plant here. In November, 1839, there were only: six small ones. Now there are that many mammoth §0tonners and another 25-tonner in addition. Republic started the war with 134,000 ‘ton§ of capacity, now has 500,000 tons.

8 Months to an Electrode

That increase along with other increases in other things, means, in Republic's. case alone, 100 tanks’ |" {worth of three-inch armor plate a month; half again more stainless for wing. and tail assemblies and fire walls {gf Bombers, the .006-inch thin steel that can take stresses and

square inch. What's an electric furnace? Take one of those §0-tonners. (There's a huge 100-tonner at H. H. Timken|Co.'s plant here that pours it out for the bearings on which tanks and gun carriagse roll) The furnace is big as a bungalow; and it takes more electric current than a couple of

_|skyscrapers with all their lights on

and all their elevators running. The furnace is loaded with scrap steel, chrome, nickel, manganese—

all carefully weighed out—and the Nat

juice goes on, to make a heat of

the electrodes and the steel. The three graphite electrodes, through which the current reaches the metals, are big around as a man. They weigh 800 pounds each. One furnace will burn up. 1000 pounds of electrodes every 24 hours. ‘And one of those electrodes is three months in the making.

CONTINENTAL GAS GIVEN SEC ORDER

—The Securities and Exchange Commission has ordered Continental Gas & Electric Corp. to show cause by June 26 why it ‘should not elimi. nate from its holding company system all properties controlled by it, other than those in Missouri, Kansas, Iowa, Nebraska, Tilinois and| Oklahoma.

commission called for disposition by bus & Southern Ohio Electric Co., and Hillsboro Ice & Coal Co.

Insoiyorations aise a Inc, 7 Iain Bt.

a Main St. Lafayette: har 8 lofhite es oF £310 Dar vi oT s

fn fe Horses.” oes, and + furs shinee! rainy Hl ana Hulastitre ure

3 Kelster H. Here

a a & hn H, nS 0. there 90 par a Xxon, Willem . McClellan. Fox's Roller Rink. Inc. su Yadison ea Tnansnoils, too’ Shai pol pat value: to operate. role ok Rl 78 ow 7 freshment Hazel EB. pox a ne P ‘Economics ans ¥. «+ registration oe na; Clase ie; Paint

a st. —— trade . mar s and, ‘painters class “Super aaive. dotetkent and hives £0

a he d Co. fo weler, Int.. Ft. Waynes Charles BE.’ ‘Palmer, Chicago, Iil.: rogis< tration of fag ian]. Me Ww t k Owens gwensvilie a gent. Harry Bennett, 313 hi to “geal” i burial 1 vault ; mausold pa DE a ae D. Kahn. mi diana Ralizond, Indianapolis; amendi a P directors to

0. theen' Ks att Paper Co New: York > 7. itted to F Corp. t to manu-

fac! ure: OE oh r products, = rot TLabe Cor Lafayette;

ment exiendme term of existen nénds States il = Co: orp... "Ligonier: amendment increasing capital tock . es mashout R57 re. Wayne ne: ou VE ¥ $n 8% Cu hous Bt: : capital stoc aidvin io Sanita ies Lr dey

Prods Co. Michigan corpora8. The. ‘Frankfort; disso-

Superior a i an Game Co. Ingianapolts; dso. |

yh —

STEEL BOOMING

the front: line of defense industry. | And Canton is the headquarters of |.

needles to the big slabs of armor|amc

armor that spouts from the electric)

reheating and recooling needed to A wit;

y For an example.of the -speed ‘with 8 which the steel industry got going|% v h

strains, at, 150,000 pounds to the!

a 7000 degrees in the blue arc between | N

The tentative conclusions of the |S Continental of its interest in Colum-|; Point Pleasant Water & Light Co, |

POLIS TIMES

> June- 1. aE

[Bios FOR HOGS ARE UNCHANGED,

; [But ‘Sellers Ask 15 Cents|:

More Than Was. Paid. Saturday.

‘HOG PRICE RANGE

June 9 secensssnonsessnssie 9.68

eenie B3

June 1%. ERA O° AT June 18 vedsseenssssnesriy 08s dune 1", suaebgsensineioary; 9.88 —

Sellers. wanted: 15. cents more for

| their hogs at Indianapolis stook-

yards’ ‘today: than ‘was paid Batur-

|day' but=buyers held out for un-

[changed prices, ‘the Agricultural

(Aluminum ‘Co. of America reports that this ‘new single rolling unit at its Alcoa, Tenn., plant turns out 50 times: the amount of aluminum alloy aircraft sheet -produced by the conventional type rolling

Net High Low Last Change

—f— Addresograph .. 13% asks Sihesu i Amal a

BR — % py -.

‘vg Ya hh th 4 ly

4 A 4 4 4 y. Al Am 4 4 4 4 4 4 4

tl G&WL pf .. Aviation Corp .. 3%

—B— Bald Loco ct ... 14%4 Ys Black & Decker 20V2 g Ai 16%

1 org-Wamer vos EY

a od ie

* 2014 ai

Cons ons O gjso Cont on Dei. "293, Corn Prod .... 47% Curtis Pub .... 1%

cP Deere & Co.. - 33% Lac & W.. 3% fll Aire.. esser Mfg ... ar : ; ton - Mfg iN Brion, at Ged ou 30% 3

Fed Lt & T.. oe 12% " by fi ym: Cc Bot.

a ga a

Hat coro ft 2

rig: a «38% g oan’ $i : x fe Ve 14% The © 1T¥ - 24 1% 1

Faaes

c TET IHHE

>See

13% o.oo 46%

Herc Mot Homestake

[+1

« 2Ye 25% x Libhy McN&L.. 5% Lig Carb. 15% Lockhd: ‘Aircraft 2434 Late, Inc 21% i 147 at . 30 ee 293% os 36% w—— 2 614

14%, 334 297s 29% 36

MeCro! TAN McKes &

Metviile. Mont oh

4 16% 13% 183s 167%

6412 3%

Nat Auto Fib- bf Biscuit

8 pf.. Na Sup 5% pf. it

Newport In Ind 7 cs 3 ot 3 N ¥$ §

—p— ee

HED REL EE

WASHINGTON, June 16 (U. PJ.|n.ai

Reyn Bob B.. Richtield oil

Sears Roebuck Riery oil

ud Baker . Sung nine Min’.

Texas out roe

Er i on

93's 56%

* TREASURY SEEKING UNIFIED TAX PLAN

.. WASHINGTON, June 16 (U.P). Secretary Henry Morgenthau Jr. ‘announced: today that the Treasury is seeking methods to avoid: over-

de {lapping of Federal, state, and local

_| taxation. Outside tax experts have been enlisted by the Treasury ito conduct a study of Federal-state-local tax relations with a view toward adopting a plan which ould help eliminate duplication of tax collection efforts. Dr. Luther Guiick, Wirector of the Institute of Public "Administration; Dr. Harold M. Groves, economics professor at the University of Wisconsin, and Dr, Clarence "Heer, economics professor at the Univer- | t sity of North Sanim,

the Federal Government could take over collection of al-gasjies taxes and’ make rebates § tary said, “ould

, | Woolworth

+ 3 |western Union Telegraph Co. to-

*|the increase

‘| were not for the fact that Easter

{| ~The Office of Production Man-

a | strategic material from the Far : Fast are dwindling.

3: | Stettinius Jr. said that the tung-

74 | tons.

s| tanks alone; he said, Chrysler is

will’ head |; up 4 he ia tax 8 % Study. u suggested at his| Pa Norge that, for example, |.

- individual :

ate savings* io the tax |

DOW-JONES- STOCK AVERAGES| 30 INDUSTRIALS ‘Yesterday ...... seesenaeanie 192.04 Week Ago T0s0s00n Trey ’ 120.16 Month Ago . aes 116.15 Year Ago High, 1941, 138.59; low, 115. 30. High, 1940, 132.80; low, 111.84, 20 Yesterday ..... o| Week AZO ...cccosenvnnans Month AO .....oveveeceasss 21.83 Year Ago hee 25.04 High, 1941, 20.75; low, 26.54, High, 1940, 32.67; low, 22.14.

—0.21 +1.2% 0.04 0.56

RAILROADS chesniiens cee 28:81 «31.68

Yesterday \.*

High, 1941, 20.65; low, 16.83. High, 1940, 26.45; low, 18.08.

? ¢ Net High Low Last Change — . . Va Caro 6 pf... 2¢ "°24 24 — We 3% 33%. 3% 108 © 108 Ya. re 20 Ya 3a 3% 281% ove

WESTERN UNION NET SHOWS. INCREASE

! NEW YORK, June 18 (U. P.)—

-— Warner, Bros .. a 1 7 pf..105 Wear ‘Alr Bhe e..

+ % -

day reported net ihcome of $2,134,540, equal to $2.04 a share, for the first four months of 1941, compared with $455,478, or 438. cents, in the corresponding 1940p . Gross for. .Ahe four months amounted to i $34,864,580, against $3114 Tie a-yeir earlier. For April the company had net income of $845,088, compared with: $245,006 in April last year. Gross: aggregated $9,414,656, against $7,935,381. The company pointed .out that in April earnings would not have. been as large if it

business. -was included in April this year and in March last year.

STETTINIUS URGES

WASHINGTON, June 16 (U. P.).

agement today asked customers for high “speed tool steel to specify

molybdenum instead of tungsten in|

their orders because supplies of the

Priorities ror Edward R.

sten supply, not including stock piles, will be only 15,000 short tons of concentrates this year. In the fall, however, he said that tungsten consumption may increase to 20,000

U. S. STATEMENT

WASHINGTON, June 18 (U. P.).—Gowernment ex se§ and receipts for the current fiscal year thivuen Jase 13, com-

pared with AY BX e 7 a1, 908. 43 8 3 E Pe $11, 18h. sift 8, 04s 3

288.83 Ho

ebt. Gold Rees.

‘|practically all products, according to the American |

mill. Enough cooling oil to fil a railroad tank car circulates over the mill rolls every 15 minutes.

~ N. Y. STOCKS

‘By UNITED PRESS

STEEL INDUSTRY

NEW YORK, June 16 (U. P.)— The United States steel industry has produced successive records not only in total tonnage but also in major classes of

Iron & Steel Institute. A With 1940 total production 6 per cent: above the previous” peak year,

...|new highs were made in production

of sheet and strip steel, concrete reinforcing bars, sheet piling, wire and semi-finished products for : export,| the authority stated. For: all of

rate.. From present indicatiqns new production tops will be made this year in output of seamless steel pipe and tube, bars other than those for con-|™ crete reinforcement, heavy structural shapes, and tin plate, with |€ production of steel plates “rapidly|. approaching the previous peak.”

not now being produced in record lor near-record volume, the Institute said.

By UNITED PRESS Steel Products Engineering Co.

to $154;743, vs. $55,091 year ago. *F. C. Williams & Co., 12 months ended April 30, net profit $157,825, equal to $1.56 a share, vs. $25,677, or 25 cents, preceding 12 months. Chicago, Milwaukee, St. Paul & Pacific R. R. Co., April net loss $218,1456, vs. net:loss- $1,493,839 year ago; four months’ net income $166,693, vs. net loss $4,338,532 year ago. Cuba, R. R. Co., March quarter net income after taxes $327,383, vs. $202,234 year ago. American Gas & Electric Co. and subsidiaries 12 months ended April|Go 30 net income $14,570,492 equal to $2.87 a common share vs. $14,747,427

jor: $2.84 preceding 12 months.

Dominion Textile Co., Ltd, 12 months ended March 31 net income $2,034,146 equal to $7.03 a common share vs. $2,214,070 or $7.70 preceding 12 months. Texas ‘Power & Light Co. 1940 net income common share vs. $2,272,544 or 35 cents in 1939. Alton R. R. Co. April net loss $95,022 vs. net loss $267,231 year ago. Axton-Fisher Tobacco Co. March quarter net profit after Federal income and excess profits taxes $64,004 vs. $155,313 year*ago. General Realty & Utilities Corp. six months ended March 31 net loss $15,147 vs. net profit $41,366 year ago. G. C. Murphy Co. May sales $5,301,576 vs. $4,299,953 year ago, up 23.3 per cent. New York Telephone Co. April net income $3,319,655 vs. $3,181,213 year 0. Ee ey Corp. and subsidiaries 1940 net loss. $988,191. Van Camp Milk Co. 12 months 3 | ended March 31 net profit $155,791 equal to $1.42 a common share vs. $144804 or Size, pseeling 12

22, 50. Sahel 75 10,448.

Customs. . 024,738.88 © 332, 1632.49

‘Helping Chrys

months,

1700 Companies in 20 States

ler Make Tanks

DETROIT, June 16 (U. P.).—Chrysler Corp.“is turning to ibicontractors and suppliers in every section of the country to help speed prdduction on its national defense o-ders, K. T. Keiler, president, said today. © In & letter issued to Chrysler stockholders along with their current

21 $1.50 a ‘share ‘dividend, Mr. Keller

undertaken: by the corporation and work . is ..being sub-contracted. On the. production of 28-ton

buying: materials, supplies and finished goods directly from more than

700 individual companies located in p

130 cities in 20 s . In addition, he pointed out that these 700 firms

in turn must depend on other com={

panies for their supplies. “The same thing will be true as regards -the 40-millimeter rapidfire - anti-aircraft gun which ‘we have undertaken to build for sthe Amy. and the Navy,” Mr. Keller our work in making the center and

nose sections of the fuselage of the|

Martin B26 bombers, and of our

own’ new plant for forging alum-|§

inum alloy parts for airplanes. Although we have just begun buying equipr ‘and supplies "for these und gs, we have: placed orders in -67 cities dn 47

. he Zominded siockholtes

addition to the defense activities

“make an S posine Picture of more

“It will likewise be true of }

outlined some of the defense work

indicated the extent. to which this

mp—

than 83,000 employees; 4,351,000 shares of stock; many: of square feet of floor pace: Shetween $700,000,000 and - 330000000

| year; a rate of $175, 00,000: a £9 ing and, LSSIng. over 1,000 “ears a year” = SRG « 3

15 DAYS FREE: TRIAL! ; . Convince yourself by 15-day test, * ‘at our risk, that this is the bigs 1 ges bareain vou cyst, 1 net

DONE BV: EXPERTS

‘| market opened.

SETS NEW REGORDS|&:

| these, except the last, first quarter| So output this year topped the 1940 1

Only rails and welded pipe are|go

BUSINESS AT A GLANCE He

corrects March quarter ‘net income|§s Good.

1,879,117 equal to 28 cents a| raat,

| Marketing Service reported.

.. As a result, no sales were made for more -than an hour after the - Sellers: wanted as much ‘as $10-for good and choice 200

[Yo 210-pounders while buyers - were

willing to pay $9.85, Saturday's top. Vealers were 50. cents lower than Saturday with an $11 top. The mar-

‘| keting service estimated 1800 salable ‘| cattle were received, 700 calves, 9000

hogs and 200 sheep. sain

nsdn iibints «Saturday, June Meer HOGS

chavs aneseey « POUNUS coccvscncnes POUNAS cscecsstcsen

00- 290 ~pOUNds® <s.eieiten 3%: Je pounds ..eectissce - 240- 27 * pounds selensaioedie 270- 300 pounds essscstecnes . 300- "330. pou ds ,. avessas ee 330 360 sounds Seashgegescne

j8- 19:

Cre onRrne 8 5532335583

" ‘Packing Sows

So csbscnnes 8000400000 sensitive.

» noo vos 8S 235 GES

stasis, ssetapetdane Ssc00esns on

» ome OOO > 208 S35

Slaughter Pigs

Medium and Good-- = 120 pounds

CATTLE Slaughter Cattle & Vealers (Receipts, 150)

ae 8.35

BOUAES. «evens we POUNAS wocsosesensee IOUNAS socoesancsoce

00d— 750 800 pounds Ss sedennaee 13% pounds sesessecse unas dene 4ecees 1300-1300 Toounds.. + os §rreiakl re.

780-3100 pounds ....eieieee. 1130:1300 } pounds evenateesocee

780-1100 1 pounds Sesesatatann, Chi : Steers. Heifers

500- 50 pounds yoo treaienese

seess geese

Pd fp pt DIRS LO

ft pt pet ot poy

388% gass

Bt fd fd pd g SePO ¢ 3 Owslad ~Ienenen 85 Soa 2333 Opsrti -) on

hh pk pt pd

QD 8s 2

® woo nea or

.25@ 9.7

[email protected]

od— 1500 750 0;pounts ve [email protected]

Heifers Chote ha. “500 pounds ace00ecsndene

780- "900 unds e%0 0 nettocee Medium—-" !

seep secne

[email protected] [email protected] po 0. pourds tector ss ean [email protected]

00- 900 pounds ..

Je andsene

Bulls (Yearlings excluded) s8set00 setae 8.25@ 8.75

eseshsnes 338 8.65 Medium esos 18 838 Cutter and Sm sevens Ta canevens N08. 50

Beef—

7.78 Good and ¢ , Soman a 91 in essseses 8.00

Feeder and ‘Stocker Cattle (Receipts, 50) Steers

esesssvenne. $10. 26 10.25

Choice— 500- 800 pounds S0-1050 pounds

500- 800 pounds 800-1050 oun Medium ani 1000 ) pounds 500- 900 T pounds

Calves (store)

Re Medium— 800 pounds down .. _ Calves (heifbrs) Good and choice— 500 pounds doWn.........

11.28 11.28

9,50910.28 [email protected]

8.75@ 9.50 1.75@ 8.75

es 0000ssnedqe

200c0000pcces esses ssnsctee

800000080 c0ne

[email protected] « [email protected]

ot 10.25@ 13.00 500 DOUNAS down .......:.... .8.00@10,38 SHEEP, LAMBS (Receipts, 0)

Lambs sping Good. and choice . Medium and goed Common

3.25

sees 3.75 et

3.28

CHICAGO LI LIVESTOCK

Hogs—Receipts, 13,000; not many early sales; but, Several is interests bidding fully steady .p choice 180-260 Ta Tiges $9. [email protected]; holding choice lots at $10 and above. Gathle-17000; calves—1200. Sheep— 3000.

DAILY PRICE INDEX

NEW YORK, June '16 (U. P.).— Dun & Bradstreet’s daily weighted price index of 30 basic commodities compiled for United Press (1930-32 average equals 100):" ba Friday sss esBesecnteniesdonce 137.37 Waek ago: s8340890889000099400 -137.90 Month Ago 0000000000 00000 00 135.39

1941 high. (June 13): eeeeens 131.37 1041 low (Feb. 17) .......... 123.03

RR.

. EASY...

thing you send . . . gifts, Shy and delivery at no extra charge wi regular vehicle limits in all cities and principal towns. Usq Air Expriss for

: signed to incorporate a number of Ep vailable in “| marine radio, Receipts | the ships’ safety and communica2.900 tion factors, company

| celvers, radio direction. finder: and | radio automatic SOS alarm.. Cov-| Geo

‘in the marine

SAYS NAZIS GET|

0.50 mission has authorized the Southern ky Railway Co. to issue $11,250,000 of 2

sraeeeees 1180012.00 R x te A

; good and]

Year ago Secaen en cpisntnenene 115.84 ,

MS “use, ‘dependable and fast for . crate or a pet. Low rates include pi : Dick : n our

[New Ships: Have

NEW YORK, June 16 (U.P) — Radiomarine. Corp. of America -today announced receipt of contracts amounting to $500,000 for installation of latest type Marine radio ‘equipment on nearly 100. American flag vessels now under construction, The ‘new equipment, recently de

features not. heretotore a will greatly: a

officials said. Each vessel will be Jroviged. with tters, two Te-

‘| exing. all : international fr

will enable the ships while at sea to. maintain ‘communication.

vessel ‘or coastal station in the world. -A feature of the radio automatié alarm, it was pointed out, is the high degree of protection it affords for other vessels. This alarm is built to be constantly. on the alert for the international distress signal. When an SOS is received;

quarters and on the ship’s bridge, “sste———————————r— §

PLENTY. OF OIL

Foreign: Policy olioy Association Reports War - Machine Will ‘Not Be: Crippled. -

WASHINGTON, June 16 (U. P.). —The Foreign Policy Association said today that Germany does not face an actual oil starvation and that its military machine will: not be crippled in the immediate: future by a deficiency of petroleum products. It pointed out, however; ' that Germany cannot hope to successfully organize European economy without more oil resources and suggested - this as ‘a possible reason for the Nazi drive toward Iraq and Iran in the Near East. . The comment was made in a survey on the world. petroleum situation as: related to the war which showed: that Germany controls but 2.3 per cent of the world’s petroleum production. It said that Germany's requirements - of - approximately 55,000,000 barrels of oil annually are barely .covered by production of 37,000,000 barrels of synthetic and crude products and 17,000,000 barrels of imports from Russia and Rumania, * On the other hand, it said, Great Britain controls 105 per cent of the world’s output and has access to “almost unlimited” ‘additional supplies. But Britain’s main: probJlem is transportation since she depends. on imports for more than 95 per cent of her annual requirements of 95,000,000 barrels.

SOUTHERN RAILWAY

WASHINGTON, June 16 (U. P..

per cent equipment trust certificates in connection with acquisition of new equipment. - The Nashville, Chattanooga & St. Louis Railway asked’ authority to issue $4,290,000 of equipment trust certificates to finance acquisition of

REFUSE HIGHER GAS RATE WASHINGTON, June. 16 (U. P.).

creased rates for natural gas sold

Automatic. "SOS Lo

Awol

bands, the equipment | panies, : was designed “to ut

' | said, is’ being surveyed: to. : {how much power” has been cone

TO BUY EQUIPMENT |&"=5rey

—The Interstate Commerce Com-|pu

16 locomotives and 1000 freight cars. I

—The Federal Power Commission] Mor has refused to .allow ‘proposed in- Nid

by the Home Gas Co., Binghamton, | Ev

~ MONDAY, JUNE 3

Southeast, Texte wits Affected: Mast by . Curtailment,

ATLANTA, Ga. June 18 . “PY Rationing of electtic current te non-defense industrial plants, in the South and . Southeast “was. todav by utilittes ha the Commonwealth & Southern ‘The program, inaugurated: ¢ the.

atop ‘and Ch ear to

use. by monsvital-

‘with [third and-ease the ee . virtually any other radio-equipped ical shortage “of: electrical ‘anergy

causel by-a continuing droughts. The lack -of rain- had’. lowered the water levels in’: g8 lakes at hydro-electric ‘dams at the time. that ‘increased. defense. ‘needs, especially for aluminum. plants’ in the’ Southeast, ‘had. increased “de mand. = In ‘newspaper sdvertisemionts} the

bells ring in. the radio operator’sivarious power companies also urged

stores, commercial establishments ahd homes to save .power:in. ‘Way possible.

System Was vould +Other -Southeastern a panies had not’ yet’ Started a ing butiJ: A. Krug of: the Tennessée Valley “Al ity. warned that TVA was © the matter the closest

sary to extend the rati

The ‘entire Southeast, . (Kiug lermine

[served “voluntarily. For ' sevéral

- | weeks, - stores, hotels, tHeaters and

residences” have been cutting aie conditioning units, elevator “service, and electric lights in a voluntary effort to save current. Drought Worst in 30 Years

pressed hope that rationing in this state ‘would result in conservation

killowatt hours. The drought, worst: in: 230 years, had been partially broken for farme ers when rains fell in scattered sece tions last week but they failed’ to raise water : levels in hydroelectria lakes. Textile mills ‘were affected most’ by the. rationing programm. which started today. 4 SL pel

LOCAL ISSUES

‘—Saturday, June es

The following Hotations b a & share "do a not Jeon sent actual price rd oo age. —ts indicate the wr Dromimate based oni buyin, Nota

recent ransacH ons. Stocks no Agents Finance Co ne.: oo a nts Finance Co. In oa

Py 2 Hom oF Ft Ft Wayne Toy Li nd a el Co $5 pid . nd & Mich Slee 1% vid . om

Tndals wate: (5 pid’. onli ater 3 o at e e Is ¢ arn ris N nd FUR oe 512% dH ve. 98. Bo 5 N In v 6% : HE \ Ind Pub Sery nb. Bh. i Re

Pub i Co % ind. Told “sid 385. shh Ind G&L 4.8%

sass

Terre Haute Elec 8% % pid. on 100 Union Title Co com Van Camp Milk pf Van Camp Milk sour

Algers, Wins'w, w ER % 8%.100 So American om cevdeen 99 } 4

American Loa 5 48 vane 1 a Citizens 304 Tel Yh 61 .. 3 Con nsol Crabbh-R ome IT

my 4% of Ind i b rel Co. 4%;

N. Y,, to five distributing companies in New York: State; . -

LADIES’

NOVELTY SHOES "S100, $1.41

KINNEY’S

138 E. Washington St.

WHILE THE REST OF

THE TOWN SLEEPS HAAG'S ALL-NIGHT DRUG STORE 22d and Meridian IS. QPEN

SAXOPHONE § Instruction

INDIANA MUSIC CO. 115 E. Ohio St. LL 4088

ELINED = EPAIRED Women’s

LEON TAILORING ro :

super-speed. Just phone ER /

j NATION.WIDE RAIL-AIR SERVICE

235 Mass. Ave Ask to See the 1 “Clifford” WATCH at EASIEST TERMS

MODERN CREDIT

1.5 We Wash, oe mr

Opposite Us

PEN & PENCIL

38.16

Pu s 55 Richmond Water Wks §s Bt... Trac Term Corp ‘58 57 ..... *Ex-dividend.

_ emer eee if LOT RW RN I RCEReT ST

Ris Gn i)

SNeleel

SVNe

SER AES SDE oY

KNOERLE _ ry ony 2421 N. Meridian St va.

INT dh

U. S. TIRES Wor weg 0

motor DRIVEN TOOLS | Exclusively at

JONNEGUTS

BARGAINS io

Delaware at Walnut. . B

‘ | study” and: that it might | be necese

Georgia Power Co. officials exe.

of 1,800,000 kilowatt ‘hours of the utility’s daily output of 8,000,000