Indianapolis Times, Indianapolis, Marion County, 16 July 1941 — Page 21
') § production one-fourth below last
BUSINESS
New Peace-Time ‘Industries Sought
For Indi
.
ana’s 190 Empty Factories
By ROGER BUDROW ANYONE KNOW OF ANY INDUSTRY that would
like to locate in Indiana—pe making some defense produc
rmanently? One that is not t for which there will be no
demand after the war is over? A campaign to attract peace-time industries to Indiana | 4mesad
was started yesterday by the Division of State Publicity, Am retaries Association and the A
the Indiana Commercial Sec
Indiana State Chamber of Commerce.
The program calls for an advertis® ing campaign running from August through November in which industrial advantages of the state and of various cities and towns specifically will be told. J. H. Albershardt, director of the Division of State Pub-] licity, has. been making a survey (it isn’t finished yet) of vacant factories for sale : or ont. So far : he as foun Roger Budrow ;.¢ there are 390 of them in 92 Indiana towns— one in almost every county—with a * floor space of nearly 10 million square feet. At a value of $1.50 per square foot, this would be an inwestment of $15,000,000 now idle and unproductive. Mr. Albershart says these buildings—if all were running—would employ at least 50,000 workmen, which, at an average annual wage of only $1000 each, would mean $50,000,000 in additional payrolls in the state. He: says that Indaina has been fortunate in receiving a large numper of plants and contracts for making national defense materials. “But permanent prosperity will not necessarily follow the establishment of a new plant for making defense materials because after the demand for defense materials has lessened, sdch a plant may slacken its production pace or even close entirely, feaving that community with an even greater unemployment problem than it had before. “Such a situation could easily feat up’ all the profits which had accrued to that community during the previous years of expanded activity.” Mr. Albershardt said he did not recommend paying a large bonus to attract industries to the state but believes that owners of idle factories should make their prices low and that assessors should use “consideration.” ‘® © =
THE U. S. ARMY spent more than nine million dollars with Indiana concerns in the last half of June, It ordered more than $1,000,000 worth of cartridge cases from General Motors at Anderson, more than $3,000,000 worth of trucks from International Harvester at Ft. Wayne.
Big orders also went to U. S. Rubber. at Mishawaka for.218,000 rubberized raincoats; Anaconda Wire & Cable at Marion for wire, and Fire--stone Tire & Rubber at Noblesville for track assemblies. . Among the other® things purchased were $2365 worth of glass sugar shakers from Indiana Glass at Dunkirk, 700 brief cases, a disinfector, scabbards, prescription bottles and butcher saws.
" = 8
~~ ODDS AND ENDS: Unfavorable weather and typhoon damage in Formosa have cut Japan’s sugar
© season’s output. . . . Oil to last 3000 years could be obtained from coal still unmined in United States '(3,800,000,000,000) but it would certainly be more expensive, American Petroleum Institute figures. ... Six| Germans holding key jobs in Manila Gas Corp. in the Philippines, including the vice president, have been fired, replaced by Americans. German and Swiss capital financed building of the company 29 years ago but Americans bought it in 1928. . . . Commerce Department says industrial production in Japan is slowly deteriorating under the struggle with China because of shortages of skilled labor, materials, fuel and electricity. Cotton production is 17 per cent under 1939; silk was down 28 per cent. « « « General Electric is substituting porcelain enamel, tinned steel, chrome alloy and other materials for aluminum, nickel and other defense metals in its Hotpoint elec~ tric ranges. . . . Nearly 40,000 tons of cargo were transported to “free” China over the Burma Road in a
CREDIT AID HITS
There Steps’ of Leon Henderson.
Advancing prices will not be halted as a result of “here and there steps” nor by price controls imposed solely on raw materials, ac-
Association of Credit Men. Mr. Heimann, business review:today, declared that all anti-inflation measures must
tax factors. “And farm prices cannot be given the green light by legislative flat at the same time that industrial prices are pegged,” he added. “The recent price rises were not unexpected. While it is a worthy objective to try, through education and co-operation, to keep prices limited, it is not safe to assume prices can be equally controlled by legislative act or administrative decree,” Mr. Heimann asserted, “such control may be legally possible but it inevitably will result in placing the burden unduly on one or more groups. ” Referring to recently imposed restrictions on time-terms of installment sales, as well as increases in down-payment requirements, Heimann said that such controls should not be instituted on the theory that “installment selling is vicious and uneconomic per se.” Such abuses as have developed in this field, he said, “have been largely corrected through co-operation within the industry and with interested outside groups.”
SOME IDLE TN CARS HAULING OIL
NEW YORK, July 16.—Army post Defense Oil Co-ordinator Harold L. Ickes said today that oil now is
moving to the Eastern Seaboard in considerable quantities by rail and|g
crease their cargoes to help offset a threatened shortage.
50 tankers which usually transport the East's petroleum supply from Gulf ports is the cause of the pres-|g ent decline in reserves. Mr. Ickes said the petroleum industry has acted “promptly” to utilize some 20,000 idle tank cars and that “already oil is moving to the affected area by this method for the first time in many years.” About 4000 cars now are in use, he said. He appealed to the industry to curtail the period of loading and unloading the cars, describing this process as one of the “bottlenecks” in rail transport.
BUYS THIRTEEN ENGINES NORFOLK, Va., July 16 (U. P.).— Seahoard Air Line Railway Co. today ‘announced purchase of three 5400-h. p. Diesel electric freight engines, two 2000-h. p. Diesel electric
150 - freight cars.
FOR TAXES, 400 NICKELS SELLERSVILLE, Pa.. County Treasurer Samuel L. Althouse was puzzled when a woman handed him a heavy bag. this?” he queried. “Four hundred nickels. I wish to pay my delin-
quent taxes with them,” she replied. g
TELEPHONE RECORD SET ~NEW YORK, July 16 (U. P.).— Bell System announced today that it had in service at the end of June a record high total of 18,155,300
recent six-month period, according to the Commerce Department.
=Ask to See the *Clittor* WAT yaTen mo at
MODERN na eater
129 Ww. Wash, 32 Is Opposite Us WASH SLACKS
Plain or Pleated Sanforized Fabrics
Leon Tailoring ist Block Mass. Ave,
WHEEL CHAIRS Why buy one? Rent one at HAAG'S ALL-NIGHT DRUG STORE 22nd and Meridian
SHERWIN " WILLIAMS ™ das = Pal for Because it Lasts Longer.
were added to service in June.
FUR (COATS Largest Selection in the Stale
INDIANA FUR CO.
29-31 East ORO St.
WASTE PAPER
AMERICAN PAPER
STOCK COMPANY RI-6341 320 W. Mich.
a mre
rire
tS Cn. SEE ‘the new 'EVERSHARP PEN & PENCIL SETS
$8.76 “ui”
STANLEY JEWELRY 60.
\ ects Hotel
PRICE CONTROLS :
Heimann Attacks ‘Here and
. A NEW YORK, July 16 (U. P).—|4
A in his monthly
take into consideration wage and|4
c The transfer to British service of &
SE eaeay,, 290000000008 = ~ 3 >
passenger engines, eight 1000-h. p. 8 Diesel electric switch’ engines and go
WU. Pj
Abbott Lab . Abbot Lab dams Exp r Reduc aska ean. .
pf.
BPEEO>BabEEEEIE>BD
Roll Mill Roll Mill’ pf Safe Zor. Ship Build. Smell .
cording to Henry H. Heimann, ex-| 4D ecutive manager of the National A
r Armor IN pr “pf Armstrong Ck.. Arnold Const .. Aso Dr & Gds As: Dry Gds 1 pt 8 Atchiso!
Ate At Line Atl G& WI. At & WI pf Atl Ref nile Atl Ref pf A At At Atlas Pd
tlas Tack .... Aviation Corp .
Callahan Ze Calumet & H Campbell Wy. . Canada Dry..
that eoastwise tankers soon will in={Can.
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ne Seag piww Dixie-Vortex
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USE YOUR CREDIT at WIOSHKINS
CREE BE REE 8X0 A
131 W. Washington 8¢ ‘ Directly Opposite Indians Theater :
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PORKER PRICES
ADVANCE T0 $12
25.Cent Gain Puts Top Here At Highest Since 1937; 5500 Received.
HOG. PRICE RANGE Top Recelpts July 3 estes sssssessesnedye 10.90 July T cvevescssesansancens 1.10% July $ cetsenssesssccncnnes 11.10 July ® .cocuivenvanranseseses 11235, July 10 essesceesaqessccess. 11.38) July 11 couiincennncencense 11884 July 12 ssesssntantgantsne, 11.50% : July 14 ceivcnctnnnensnnse 11.88" July 15 ..iovnvinnnaneasess 1178
Hog prices hit the $12 mark at Indianapolis today. After yesterday's 10-cent setback, prices at the local stockyards today ruse 25 cents on all weights, boost-, ing the top to $12, which is the highest here since October, 1937, when hogs were selling at $12.25. The top was paid on good ‘and choice hogs weighing between 200 and 210 pounds. The Agricultural Marketing Service estimated 800 salable cattle were received, 600 calves, 5500 hogs, and 600 sheep.
Tuesday, July 15 HOGS 120- 140 elie nennne 160
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Yale & T .... 31% NY Yellow. Tr .... 15 14% Yellow T pf ..118 118 Young S&W .. 1043 10% Young Sheet .. 37% 37 Young Stl Dr . 17% 17% —— Zenith Rad ... 1% 13 Zonite ... 1% 1%
DAILY PRICE INDEX
NEW YORK, July 33. 186 (U. P).— Dun & Bradstreet’s daily weighted price index of 30 basic commodities compiled for the United Press (193032 average equals 100): Yesterday Ses AB NBO NY sassey 140.23 Week ago sages enestr eS 4910 140.37 Month ago testssstacsssvenase 137.54
Year ago Ssescssacesncesncee 114.56 1942 nigh (June 27) ....evee jon 1941 low
low (Feb. 17) .......... 133.03
FIT LIKE NEW! Denturlastic, makes oy he gh in . bt
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ILA TAs
Diamonds, Watches, Clothing, Shotguns, Ete.
PRR ] »
a Good and Choic am
GD de mr Sagsasasen
11.45 11.40 [email protected] [email protected]
Fred ed ed ed rk ek ph ed pt
m-—-200 pounds Packing Sows
‘Mediu 160-
0.40 19. 3 100 io. 60
300- 330 pound 330- 360 pound
Good — 360- 400 pounds 400- 450 pounds —— ey pounds
Meo. S00 pounds os Slaughter Pigs
10.20 [email protected]
Medium and Good 90- 120 pounds CATTLE
Slaughter Cattle & Vealers (Receipts, 2000) Steers
astern.
arasisaeaeavit 10.2
50-1100 pounds 0-130 ) ‘pounds
CPe0-1100 pounds . Steers, Heifers | Cholce—
500- 750 pounds ........... «we [email protected]
Good— : 500- 750 pounds «os [email protected] Heifers Chole
750- 900 pounds ceesesssaseas [email protected] 750- 900 pounds ...uv.eoseins 10.50011.50 Mediu x3 500- pounds secacboncen [email protected] 500. 900 pounds 8.25@ 9.50
Com 3 3 9.00 3 3 6.30 5.50 630 9.00@ 9.50 9.00@ 9.50 8.25@ 9.00 7.50@ 8.25
. 13 [email protected] ‘eres “es 2
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ERLE LEEERERR EERE" LL EX)
Bulls . (Yearlings excluded) Beef—~ TGOOR citiariarrrenisresninae SausaReMedium Cutter and common .. . Vealers
Good and choice caeaws Common and medium’ Cull
Feeder and Stocker Cattle {Bectip pts. 600)
TitioRo0 ponds ........... HIT 800-1 ‘pounds esas sate us .e 8 Gude
- 800 ‘pounds 200-1080 pounds Medium— 500-1000 pounds esessetiense 0! Ra ~
1. 8 esssssesscse [email protected]
[email protected] [email protected]
9.00@ 9.75 1.75@ 9.00
cessecstiene. Sect attntn.,
0) ++. [email protected] . [email protected]
Calves Goad and Sugico.S08 pounds down... .cc0ee. oo [email protected]
Mea! Pounds down .....,..... 85091050 SHEEP, LAMBS (Receipts, 1000)
mbs spring) ..$11.00
11.5 9.25 1 3 8.00 Good cesses
Common and medium ... : 388 3% 3328
CHICAGO GRAIN Opening prices taday on the Chicago Board of Trade, as reported by Thomson & t MeRinnon, were:
Dee. Wheat saan 8 1.055 1. Corn ...... 13% oS Af : RoHS
Good and | choice: Sedum d good
essassscsaas
Seta crac ant nnanng “es
Dr. Robert H. Montgomery, University of Texas economist, will speak at AAA-sponsored meetings at Peru today and Columbus tomorrow on the effect of monopoly and industrial practices on agriculture and how the war and defense activity is affecting Indiana farming.
RAIL REORGANIZATION
Farm Speater [INDUSTRIAL OA
‘PLAN IS CRITICIZED
CHICAGO, July 16 ‘U. Po - magazine Railway Age tt” criticized the plans for r-o: tion of the Chicago & I['o! ern Railway and other co drawn up by the Interstate C.: merce Commission and which piovide for elimination of certain com-
roads. These plans, the periodical complained, are based on average earn-
50|ings of 1931 to 1935—the bottom
years of depression—and provide for cancellation of charges which now, in the days of rising income, can be adequately met. In the specific case of the Chicago & North Western, the road in the first five months of the years 1931 to 1935 averaged net operating income of only $263,00, while in the first five months of 1941 the average income was $5391,000—reflecting demands spurred by national defense and increased business activity.
Shipping Lines
BUFFALO, N. Y,, July 15 (U. P). —Two Great Lakes package freight lines, the Minnesota-Atlantic Transit Corp. and the Great Lakes Transit Co., have filed applications with | K the Interstate Commerce Commis~ sion to merge “in order to avoid inevitable bankruptcy,” it was learned | Bu today. The lines, operating duplicate services between here and Duluth, Minn., handle more than 15,000,000 tons of freight annually. The applications stated that diminishing revenues and increasing costs of operation would lead to “inevitable bankruptcy.” The companies said they had “experienced a loss of more than $2,000,000 in the last eight years.” ~~ - The merger plan provides for ac-
mon and preferred stocks of the Agents Finance Co Inc pfd... 40
Want to Merge |:
[as MN, x
USE GAINS HERE
Citizens Gas & Coke Utility
Reports Big Increase Over 1940,
Spurred by growing national de~ fense production, the consumption of gas showed a heavy gain in the first six months this year, the
ported today. Industrial gas sconsumption ine creased 153 million cubic feet over the comparable period last year. The total gas consumptiow thus far
this year has been 2,486,110,800 cu= million
bic feet, an increas~ -~f 192 cubic feet. ow The utility reported tii:l in the year ending June 30, the firm in< stalled 55 miles of new throughout the county, while number of meters in use inc more than 5000—to a total of 96,03 In keeping with the growing of gas, the utility has just com pleted a new 12 million cubic f gas holder at Langsdale and No western Aves., more than dou the previous gas storage capacity. i Both gas and coke capacity willy be increased a third by the battery” of 41 new coke ovens to be coms pleted in October. at the Prospect Street plant.
LOCAL ISSUES
Tuesday, July 18
Nominal quotations furnished by unit of National Association of Securi Dealers.
-"
a ny
Pe
"3
Stocks Agents Finance Co Ind com...
Bid. 1%
a
2
Belt RR & Stk Yds com...... 58 Beit RR & Stk Yds vfd...... Central
Hom Ind
e Asso Te Mich
pls P&L com Indpis Water 5% incoln Loan
Brogress La) ry com Pub 'o Ind 6% pfd Pub serv G2 of Ind 7% vofd..1 Terre Haute Clee 8% fd
Union, Title Ci ilk
Van Camp Van Camp Bond Algers. Wins'w W RR Tes 8% 100 American Loan 5s 51 29 American Loan Ch of Com Bld Sliizena Pind, Xe
com .
Ss Co Wi 4Vas
Crabbe Rome 1 Hom [nd [ng d
i Rl Wh tor Works 5s n. Trac orm, Lorn 5s 57 *Ex-divid
DOW-JONES STOCK A 80 INDUSTRIALS Yesterday Week Ago Month Ago Year Ago High, 1941, 183.59: Low, 115.30. High, 1940, 152.80: Low, 111.84, 20 RAILROADS Yesterday ........ Week Ago ...
Sassaannes
CRCE ANE Rea
quisition by the Great Lakes company of considerable stock owned by the Minnesota-Atlantic concern and the election of H. Townsend Hoopes as president and general manager. Mr. Hoopes is president of Minnesota-Atlantic.
Incorporations
Lotus Dames, Inc., 4026 Cornelius Ave., Indianapolis; no ca ital stock; social and fraternal; Bertha ison Crump, Jessie M. Cunningham, Nanecas R. Moss. Inc., Virginia corpora-
Brook’s Clot tion, admitted ie ‘Indiana; retailing men's 8.
The Sch tion, admitted to Indiana to manufacture 7s | and sell shoes. National Tire St8res, Inc., Colorado corindiana.
poration, withdrawal from LaFrance Industries, Pennsylvania cor-
: poration, amendments of articles of in-
corporation. Adams Jewels & Loan Co., Inc, Indianapolis, dissoluti Meyers and Son Manufacturing Co., Inc, Madison, dissolution w>ihetsville Home Bullders, Inc., 121% h St. agent L. V.
Six Ganue; rsville; O'Brien, same addre 500 shares without ad ge estate busi-
ar value; buildi Deas: 1 n . O'Brien, ‘Jack
61b
Know It Yet BUT—
vel. for you.
~N
If You Don't Noed It Sell It For Cash
"John Doesn't
ness; IL. A. Donoghue, L. V Winness.
The Proof
! TEORaSR! i LET
For oily #108 this Times Want Ad 3d both ; a bicycles. ‘
TIMES
JAMES 1.
se
awe-Gerwin Co., Ohlo corpora-| ym
Month Ago Year Ago High, 1941, 20.75; Low, 26.54. High, 1940, 32.67; Low, 22.14. 15 UTILITIES Yesterday Er TN Py Week Ago ........n "ernans . Month Ago .. Year Ago High, 1941, 20.65; Low, 16.82, High, 1940, 26.45; Low, 18.08.
AAR ARt ANT AR Rae
18.67
WAGON WHEAT
Up to the close of the Chicago mar today Indianapolis Sour mills 3nd elevators paid per shel red wheat (other grades “on Heir mer and Tle ver bushel for 0. vellow §orh No. 2 white corn. 76c: No. 3 white oats, 33¢.
vc Need a LOAN
On Your Home? Consult Us! ! !
FURNEY
116 N. Delaware st.
~ My Want Ad in The TIMES Sold My Old Furniture and I'm Bring a New Radio"
Hundreds of Indianapolis housewives are buyi ing the little luxuries they want with the money they get from selling discarded articles stored in attic and basement. Take an inventory of your own: “ne longer used" atticles—you'll peobably find many items that a Times Want Ad can,
The Cosh: As Small As 260
" ant Ad
- FOR QUICK, Low cost RESULTS
i
“5
Citizens Gas & Coke Utility re