Indianapolis Times, Indianapolis, Marion County, 5 July 1941 — Page 14

BUSINESS

‘Flying Saaghs’ May Keep Enemy Bombers From ‘Messing Up’ Canal

By JAMES E. HELBERT Times Special Writer

AKRON, 0,, July 5—THERE ARE ABOUT 400 WOM\ EN HERE down on their knees stitching and sewing to keep/ ‘you from being blown out of bed some moonlight night or to| prevent potential enemy bombers from making a worse mess

' of the Panama Canal than an earth-slide. :

. bill to assure farmers (by dint of | bobbing behemoths will be‘ moored

- Government loans on their crops) | eventually, but right now the field

They are not sewing a gadget to hold you in bed, but they are piecing together weird appearing barrage balloons, monsters which the British credit| original building.

FARM PLEDGES ‘BLOCK CONTROL f=. "5 nei 2 swe co PEPSI-COLA IS STOCKS LEADER

Parity Loan Promises Hin-/miters the comy -der Move to Keep Accounts for 14-Per Cent of Turnover; Rest of List

has ordered and the Jumper er Prices Down. Is Quiet.

construction at the Good | here are military secrets pr i lary be said the armed forces are very By BERTRAM BENEDICT i © Times Special Writer . WASHINGTON, July 5.—The AdNEW YORK, July 5 (U. P).— Pepsi-Cola, accounting for nearly 14 per cent of the activity, featured

much interested. In fact, barrage balloons are so - ministration’s present moves to keep a firm and otherwise quiet stock

- out of the wild-eyed class now there is talk of establishing a training school in the handling of them at the Goodyear field, hore Soo prices up. Those commitments did | men got instructions in r‘not end with the present defense|than-air ships during the last war. emergency. Looks Like Dover market today. Bonds were mixed and commodities were steady.

- Recently the President sigfied the| Officials will not say where these

"85 per cent instead of 75 per cent of | here looks like the Dover cliffs or. the parity price. . | London on a flaming night. Regular -Last Tuesday the Agriculture De-| airlines give the place a good letDartment, in announcing another sing slone Desauss it is gooduy pilot sharp rise in crop prices, took pains|and plane a wing clips a s to point out that they were still not | cable dangling from a balloon. 25 up % and later crossed 26 into up to “parity” levels. In the recent| It is indicated, however, that the{N€W high ground for the year. coal strike the Administration prac-| first wobbling gas bags will go to|Other soft drink issues were higher. _ tically promised that the operators |spots of military and industrial im-|Canada Dry made a Jew high at would get higher prices to meet portance such as the Canal Zone,|14%, up %, and White Rock rose - wage increases. airports, navy yards, steel mills, etc.,| % point to 6% on relatively large | Costof Livin Risin so don’t expect :to wake up some|Volume. ' Demand for soft drink ] B g morning and find a balloon an-|Stocks were attributed to the recent . Retall ‘prices have been slower to|chored in your back yard. proposal for a smaller than antici- - advance than have wholesale prices,| Purpose of the barrage balloon, |bated excise tax. but are now rising materially. This|of course, is to force bombers to| Atlantic Gulf & West Indies ismeans that the cost of living is go-| fly higher than the bags float, thus|sues . were . strong. The common

ing up, and this means in turn new | decreasing enemy accuracy, and to|made a new high since 1936 at 297%,

tor, said this week that wage in-|protection and more

~ out price increases, because of the| attackers.

‘authority on agricultural prices, sa “than ever before in history.”

1941, but did not become pronounced ‘March 22 to June 21, a period of

last war began early in 1916, more ‘than a year before the United qo ins of one or two balloons to|Dee

‘rapid advance than the present

: demands for higher wages, which in|stop dive bombers from diving too|up 1%, while the preferred made its -turn will be held to justify further|close to their target. Three inno-|best price since 1937 at 40%, up %. -price increases. vations are being worked out here,| Other new highs included AmeriThat is the so-called upward. spiral | however, which may further deflate |can Car & Foundry preferred at 77, of .prices which occurred to some|ancient theories of military science. |up 1%, and Worthington Pump con‘extent during the last war, and to . Double Altitude vertible prior preferred at 64%, up a greater extent after the war| First, balloons are being built to[1. The latter's prior preferred ‘when Government controls were re-{ float at an altitude of 15,000 feet equaled - its high at 61%, up %. _linquished. or almost twice as high as those|Deere & Co. equaled its high at Leon Henderson, price administra-| used in Britain. This means greater|24%, the previous close, and then sway to the|eased to a small net loss.

creases so far granted in steel and| cables, thus covering a fregies ales automobiles could be handled with-|and forcing higher flying by WHEAT F

CHICAGO, July 5 (U. P)— Wheat futures moved within a narrow range on the Chicago Board of Trade today with the market down a cent a bushel before the decline was halted. Wheat finished 1% to 5% cent a bushel lower with July at $1 03%. Corn was unchanged to off 1, July, 73%cents; oats 1% to % lower, July, 37% cents; rye off % to 3%, July 565 cents, and soy beans were 1% to 1% higher, July | $1.46%

RANGE

These giant sacks hold 0 cubic féet of gas, suppo: 7-32 of an inch rt 5 . ground crew of from 15 to 25 men nto operate and have six huge lobes and a tail much like that used on dirigibles. This makes a pretty formidable business floating in the air and when the balloons are in hiding among small trees, you would swear that the age of dinosaurs and mammoths was still with us. three months, the general whole- or ood developmen De Le sale price index of the Federal). i. foot appetite to protect colBureau of Labor Statistics rose lumns of troops. These bags would from 81.6 (with the 1926 average be towed along by a small truck equaling 100) to 87.2. This was an |, even by three or four men to increase of 5.6 points, or 7 per cent. protect the column from: strafing The wholesale price rise in then, oo :

Third use being considered is the |g

higher profits realizable from working at full capacity.

Rise Began in February President Wallace,’

this week: “Prices of all kinds have - gone up faster in the recent months

The present advance in wholesale began at the end of February,

until the middle of March. From

Prev.

3 $1085 of Ph Close 1.081

4 Tous i

Wheat Fa 8

14 prevent bombers and attackers over i ay warships to merchant vessels’ from 3: : A zooming low to dump a bomb load Dec... 77% or splatter a ship with machine gun 7 e 4

th 41 $1. oi 4 States entered the war. In the 106% ‘three months from July to October, 1916, the B. L. S. index rose 14 ‘points or 12 per cent, a much more

Ts The

37%

13 Tv

37%

Pepsi-Cola opened 3500 shares at|:

% | Aviation chi

making mugitions.

High Low

Abbott - Lab .. «30% m

EE CEERRRE

Am Bank Note. Br Shoe

\m a im, Cable&R .e 2% m Car&Pdy.. Am CargR pf.. Am in&C.. 1%

Papi

Bate te be hy a

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con: nohior fa 15

Arm ay

srmstrong E Jas0, bs = as 2 pt n

= 205 Bis

Poole -» >>> Stee PM A Be Be Be Be Be Be > >> Sa 8 1-1]

3ald Loco ct .. 18% o 35%

Net Close Change

OW DO UN id G1 CD CO 1 et BY © -3

FEERRS SEER

-3 Caer eRe

Ey & PLE L eg: 1b

Production in this drop forge plant at Springfield, Mass., was never those ungainly air interrupted while an addition was built around and over. the top of ‘the .

| ++

% 5 % % Ya 3% Ya 1s 1a

[+++ +++:

‘7 1%

HHH:

PLE : - or

U N

Ys | Thursday .

Thursday Week Ago Month Ago . Year Ago High (1941), 29.75; Low, 26.54. High (1940), 32.67; Low, 22.14.

Gen Mot ....

NYC & SL» Soe Vae . Asso Dry Gds

Newport Ind. 5 7 Anaconda ... ; | Canada Dry.. Worth Pump. .

By UNITED PRESS

30 INDUSTRIALS «ee 18.10 eens 124.04

Month Ago Year Ago High (1941), 133.59; Low, 115.30. High (1940), 152.80; Low, 111.84.

20 RAILROADS . 124.18 cesssessssess 28.50 ssesescsinsce 28.49

15 UTILITIES \ 28.56 18.04 17.86 17.32

High (1941), 20.65; Low, 16.82. High (1940), 26.45: Low, 18.03.

DOW-JONES STOCK AVERAGES

40.06 | Penn RR +0.46 ~—0.06 + 0.89 +0.08

16 MOST ACTIVE STOCKS

Sales L271 26% 24% 26% % 1% Th 12 7-16 7-16 1% 1% 1% 207% 28% 20% Ne 314 3% 323; 321%. 32% 39% 38% 39% 9% 9% 9% 8% 8 81 5612 56 561% 1216 11% 12% 5% 27%

38 2% 26 26 25 24 . 2

Gu & WD

S Steel.... Y Central.. 23 21% 21% 14% 14% 14% 22% 211; 22%

. Net (in 100s) High Low Close Change Pepsi-Cola. . i Ch G West of 42 Comw & So.. Am Cable....

ot wh

=1-18

High . 41% 3% De a bere M Mg t 2 pt 60 vet Milk 2 helps Dodge . Philco Lig .

Poor B postal Tel pf . Procter . 58% DR G pL. 1115

fafevaY 5 pt.. 8t Jos Lead... Savage yl oe

‘| Seagra; Sears ® Roebuck. .

2% 5

3% 15% | si

Delco plant building at Rochester, N. Y., ‘(top right) demonstrates welded form of saw-tooth roof truss designed -by Architect Albert Kahn of Detroit. Below: The Ford Motor Co.’s new “blackout” plant for

FINAL NE W YORK STOCKS _

Low

|Price Restraining Moves

Net Close Change 41% 3% 2

fell HE lr

SlEl+ iE HL

| SRE

REAL INCOME’

Sharp increases in . wages, salaries, farm income and investment returns

%2 not yet been reflected in consumer % | prices, because of action of the Gov|ernment’s Price Administration Of-

» to American consumers to record high levels.” 8

SETS NEW HIGH =:

Called Factor by Authority.

MINNEAPOLIS, July 5 (U. P.).—

lifted “real income” of the American public during May to the highest level on record, the Investors Syndicate reported today. The regular monthly survey of national purchasing power showed that the consumer's “real income” —an average relative figure designed to show the effect of living costs on income—amounted to $1.27 in May for every dollar in May, 1940. Actual cash income of the general public, the syndicate said, was 31 cents on the dollar greater than a year ago while expenses were up only three cents. “The tremendous lift in business activity and consumer demand has

fice or because of previous surpluses, or for both reasons,” the Syndicate explained. “Although the cost of food, shelter and - miscellaneous necessiti es is higher than a year ago,” it added, “the great increase in all forms of cash income brings the ‘real income’

ACCOUNTING GROUP NAMES G. E. GREEN

Times Special

John L. Carey, Institute secretary. Mr. Green, elected members and associates, is with the Indiana State Board of

NEW YORK, July 5.—George’ Elsworth Green, Indianapolis, certified public accountant, has been elected an associate in the American Institute of Accountants, according to

one of 117 newly

Accounts. There are :83 Institute

Purdue Sees Upturn on

Farm Commodities as Inevitable.

LAFAYETTE, Ind, July §.—~ “Despite persistent efforts to: stem

the tide through various price con-

While each product will follow its own course, dependent upon the size of the crop and the demand, it sedis. irigvitaple that the trend in prices be sharply upward. This: forecast is made with the expecta= tion that the inflationary effects of fhe defense program are inescape able.” It was the feeling of the econ« omists that - while price controls may appear to be tem ef« fective, they will serve m to discourage speculation and pare tially to slacken the rise. “The scope of the defense effort is such that its full effects have not yet been felt,” the leaflet ase serts. “The defense effort has now reached such magnitude that it is expected it may serve as a business stimulant for a considerable period of time, “With rising prices and increas ing scarcity of commodities each successive month, it is expected that the present fear held b; persons of a serious reac the near future will pass and that a more or less general boom psy« chology will develop. ‘Certainly the continuous opera« tion of our economy with rising prices, full employment, increasing wages, and even moderate profits must result before long.in a tion from the depression psych which has existed generally more than ten years.”

STEEL EMPLOYMENT 4 SETS MAY RECORD

NEW YORK, July 5 (U. P.).— Steel industry employment in May reached a new record high of 632,« 000 workers, a gain of approximately, 11,000 over April, the American Iron & Steel Institute reported today. The previous peak was established in April of this year at 621,000 while in May, 1940, the total nume ber of employees at 510,000 “indie cating a 26 per cent rise in employment in the past 12 months” the institute said. Average pay of wage-earning eme ployees in May amounted to 98.1 cents per hour and the work week is (averaged 39.7 hours compared with 97.4 and 39.4, respectively, in Apt and 85.1 and 35.7, respectively, in May, 1940.

for

members in the Hoosier state.

Strauss Says:

Our customary store hours are resumed Monday . . Saturdays 9 till 6

air ; | Balt & O pf SY ] jarker Bros .

wt sisi 3 38%a .39%

‘one. . Similar advances were regis-| Std G&E 4 Bf.

tered in the succeeding quarters. a

23% Bendix Avn ... 37

Are 'Non-Inflammable Sfuiy: There are some other things|geptaround here to surprise you but| gye— they are not being photographed |nJuly.

. | Stock sales approximated 180,000|Std G&E 6 p: ‘shares against 140,000 last Satur-|gid 5°C0, 7 day. Curb stock turnover was 36,000 Std Oil shares. The same as in the short |Siq

TER

duly

Pra

nat pV Saree

or written about. Mr. Hitler isn't the only person in this man’s war with a es weapon or three, 0 one advances barrage balloons | as the answer to air raids, but they |hesi.. iss ise 1 are effective instruments of defense oOct.. 136% 131% which the Army, Navy and rubber| 7a. : men are taking more seriously these | july. sions days. For instance, they are devel- gept. 10. ; U i037 10. oping new techniques of manufac-|Dec.. 10.65 10.67 ; turing and of placing the balloons.| » New. oold. If you think barrage balloons are an easy target which can be shot $a! al down with a few bursts of gun. fire,| $1.05: No. you have been misinformed. Texture | Mixed. $1.0

of the big bags.is such that it takes Ble N

: Sept

AMY BOMBER PARTS T0 BE MALE UPSTATE

Times Special : CIE, Ind., July 5.—The Chev-_rolet-Muncie Aluminum Forge Plant ‘here, now nearing completion, will produce parts for Army bomber fuselages and aviation engines, com-

Dr Beans— >

a Asked. b Bid.

Shs 2.red TY Fart it ong 2% WBS. 2 Rang,

will devote most of its production a orders for the Fisher Body Division of General Motors Corp., which has -$100,000,000 - contract - for B25-C ‘bombers to be built by North Ameri‘can Aviation, Inc. The production will: be on the

0. several hundred rounds of ammuni- | 10%, 13%@1%c: No. 4 y tion ta bring them down. Also, they | 63@70c; ' No. are. inflated with non-inflaminable | bite, 1@8%e; Sample

helium gas, so are safe against in- tow, 31° [email protected]; ee rel cendiaries.

Beat—No. 331.35 glow basis of 100 bombers a month. Plant| And while the enemy is banging officials said it is also anticipated |aWay at the balloons, the defense lite Reavy. 39%@ toc; N that Chevrolet-Muncie will take an [Presumably would be busy at some- sample active part ih engine parts pro-|thing other ‘han a game of Flinch, duction in connection with Chev-| Barrage balloons are spaced from aed Leann, (Romina) sin rolet’s $89,000,000 - contract to build [one-half mile to a mile apart, whieh | feed and scresnings, 45 51c. Pratt & Whitney engines at the|seems like and is space enough for visions Lard nominal; lou G. M. C. Buffalo, N. Y,, plant. a bomber to slide through excepld nal. for the fact the bags are not placed : in a straight line or perfect circle. ‘Curb Stocks |Tey ere siessered in such a way od Sodihe : at an attac man wo elevators pa! per a Tor No.3 tow strike a cable before he had pene- tne peid. Tie Der “bushel for r shelled new 111% trated the defense line very far. |No. 3, 7eliow tor; NO. 3 Serie snelied 241; “1ig 1% 8 1a

Such is the theory and some of } | eee reese LOCAL PRODUCE 16%

the practice of sending up floating breed colored hang, Mc; oN zi 5%

on m T mixed grain. ‘6c ; No. 1 feed, 37c, Rye—. 55@650:

. WAGON WHEAT Up to the close of the Chicago atket today Indianapolis flour mills 4 nd

Net Close Change

gas bags do proves in from the te ell of modern ra It must avy be * something considerably = more Lagho Te Jena a than theory, because the govern-|JVhite Rock, 2

ment plans to spend : $4,000,000 on'|Le Ear : nd white over, balloons.

LOCAL ISSUES

uotations - turn: unit of or” Nat onal “Association or SoTures Stocks Bid

ine. com.. 7 pid.. wr -88

Rock, 14c; 15¢:

Butter—No. 1,

3 3c: Butterfat—No. he

oo iy Re. 36@36%¢.

DUEL HH EE Sa

Wadley

FOOD PRICES

Co mn Agents Fin CHICAGO, July 5 (U. P.).—Apples--Belt RR & Bik vas oom © Tiinois (new), bu., 85c@$1. ~‘Tomatoes— |p. Belt BR & Stk Yds oid 88. |Texss, lugs. $1.35 8G1.38, Spinach-ilinors, . u., aulifiower—Wa; Circle Th ves 29 3 e rrots—Ci fesea

Agents Finance

oa a .

Phi pe I+:

: ! s— Tennessee, [email protected] Onions. oot, sacks) —California eliows, $1.50@2.

TFS SPE

NEW YORK, July § (U. P) Following are. gen cable Tates on c Carle} Rates Net

106 1-10 | EOE.

sxe

ess undry Pub Serv Co of Ind 8 f Pub Serv Co of a To he.

1400 NEW FACTORIES ‘BUILT BY STEEL MEN

~ | NEW: YORK, July 5 (U. P).— ...~ | The structural steel fabricating ‘industry has - built ‘more than 1400 new factories and additions .to ex-

120% 29

FEI HTL +04

“sess enns

Vas etme fh Sls

SRE re

sting plants, in which war mippies|

Last Year

$ Hanh are be produced, since’ the de-

a prograni began, the American Institute: of Steel Constru closed today. | Foon < With the construction of factories jgg [out of the. way, dusity Shas

sh Pro- ¢ , $9.30; | & f, $9.75, a, bellies, $12.75, nomi- Com

Co! rred and Corn 3 3 Leghorn springers, 2 lbs. and over, | CIR

0. (C tty pickup prices quoted by the Cu

Det bu., | Dev & RA

eee — Du FOREIGN EXCHANGE| Ya

en Jorg. Warner Sewin) C

hrysler ty I&F Dp.

. 30 Co prim. 1% 18%

son Edison: t 9 ns Film - » %

Curt > Furl Bus or oh: 38 ul wy ie

Day P&L cu pf.110 10 Desre & Go Or: 34% ty, — 0

is 135 L135 138

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Bast Alr J Air Lines: «24

t Che. LAL

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Dep St ft 91 Firestone TT. evpf

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Green HL .... 33 reyhound Cp.. Grevhnd of

Kelsey Hayes B 68% Kennecott

Net Low Close Change

5 # 11 ES on 29 Te uM& Oh pt 16. 16

5%2

Homestaks' Houston O Hudson Moto

6% 37% 37%, wie

ints 36309 00 FREER

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% [enn Corp ....

vive + | Texas Co

«sf. .. . . .

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[+1] +4

CREE Sesser

PEL

Ta 5% Twin Coach ... 7%

Union B&P ... 3

.. 82 Un - Alrerat ee 40% Un ‘Air Lines .. 10 Un Biscuit .... 1% United Corp . United Corp of. 23a United Drug . 3

Un El Coal . 43 Un Mer & Mig 10% Us G

«e.. 58 vee 26% ve am

Tae owe mes

Yale & T Yellow Tr ..

Sagar’

20% 14Y

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f 113% - 113% 81

20% 14%

Chicago Stocks

sess 11%

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14%

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2 on Jaa Lome “JUN 00 oi

oR Fas #

FUER Salt.

Saturday)

JACKETS +. . Nearly all our cut in price.

other days 9:30 till 5 (We are closed today

(4 e

It Begins MONDAY Sweeping reductions on more than 3000 GENTLEMEN'S SUITS (2 and 3 piece). A world of SLACKS and

reduced.

STRAW HATS

A raft of SUMMER OXFORDS, ae A thousand or so TIES, Hh Pull up SOCKS, Summer MESH SHIRTS, Under SHORTS, ete.! The Sale is On!

Come and Get It!

GO. ne. TH