Indianapolis Times, Indianapolis, Marion County, 30 July 1941 — Page 17

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PAGE 17

Flynn Sees Shortage of Goods

THE INDIANAPOLIS TIMES | FINAL STOCK QUOTATIONS YESTERDAY

By UNITED PRESS

|DOW- JONES STOCK AVERAGES] 30 INDUSTRIALS

WEDNESDAY, JULY 30, 1941

BUSINESS a.

Indiana’s Utilities Sell One-Fourth a Of the Electric Power They Generate

By ROGER BUDROW

INDIANA DIDN'T USE ALL THE ELECTRICITY its power plants generated last year. But it didn’t go to waste. It was bought by power companies in our eo} states—Illinois, Michigan, Ohio and Kentucky. Nearly one-fourth of the power generated by Indiana 3 utilities last vear was used in some other state, the Federal Power Commissions report shows. This amounted to about

1.600.000.000 kilowatt-hours. One feature of the report that! A Ice Am Loco i Ln {Am

may appear strange is that while Decline; 5500 Porkers

Indiana soid that amount of elecReceived Here.

tricity, it also bought Some Sroum out-of-state utilities. Pi HOG PRICE RANGE Top

panies in this state Do about | one-third a | much this way | as they sold} out-of-state. For instance, there is a dsily interchange of power between $11.90 11.9 12.00 11.9 12.99 . 11.30 11.50 . 11.80 33

Net

Close Change High Low Close change

17's

High Low —-—l Biscuit ... Bd & Inv . 19% Can Corp . Cash Reg . Cyl Gas .. 10 Dairy en J t Dept St .. Dep St pf . Distillers Gypsum . Gypsum pf Lead

v . Lead pf B . Pw & L..t. Steel Sup Penn . Sup §': pf Sup 2 Eo t Tex .....

bt =e wu »

' «1G

—8.83 —842' N 8.33 0.17,

ry uw » 0»

133.59; low, 115.30. 152.80; low, 111.84, 20 RAILROADS

High, 1941, High, 194,

“wo

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3, | Week Ago { Month Ago

tr cree

Allied Mills ... Allied Stores Allis-Chal

CY es OO On nn DC ON NOOB Dw CD

a w re ode

Nebrcy all ‘of. 1037s s 008 Newmt Mining. 30% — 0.33 Newport, In Ho ewpt ws 65: -+BiINY Y Cenirel ... 13%

NY 173s NYC & StL of 44° , K . 3

RBneh® tiie) 5 $35 ow

DO pa wl Gd uy wr

20.65; low, 16.82, | , 26.43; low, 18.03. | {

Vid Ed

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— a

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3 s: Ohio Off ...... 3. {Oliver Farm Eq 2 “4 /Omnibus "op Omnibus bf. Ovpen Coll . Otis Elev Otis Steel .. Otis Stl cv 1 nf 55 13 Qutbod Marine 1s Owens Ill Glass 1, "35 pace {Pac | Pac Pac {Pac

{ Pac & . Pacific Ltg.... Pacific Mills. . Pac Tin Cons.. {Pac West Oil.. { Packard {Pan A Airwavs i Panhandle

ae vA 3

s. | Francisco Sug . “s | Frank Sim pf .. & Eres t Sulpnur. 403% auf . 23

aa Ea

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OO HD rt rt COUN BD Gd ew 1 i na

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Gamewel | Gar Wood Ind.. | Gaylord Cont -..

Cincinnati and! Louisville and] the southern In- | diana district. Cincinnati, be- Seis 5 .. ing on Eastern aly 19 time, has peak ,.,; + demands on iis yuiy ower plants an hour earlier than !jyey Louisville and southern Indiana. So : July thie latter plants help Cincinnati Jely out. And then an hour later, the Jelv process is reversed. This, utility men Jul¥ neh point out, is a very good arrange- | Bids for hogs at the Indianapolis | | Aren-D-M pg ment and makes for lower operating [Aron a costs. | stockyards today were 25 cents Or | Armstrong CKk..

Arnold Con .... In additi on to ti ne southern inter- ‘more lower than prices paid yester- | Artioom

D ge of power,- . are Severs! day, the Agriculture Marketing | fo power plants in the state that Service reported. { Atchison ot regularly send power across the €po! ad < Lin i state line. The big State Line Sellers held out for a smaller! ESI 23 generating plant on the Illinois bor- price decline, offering some hogs at | yas toni us

der near Chicago sends Vast amouniS 15 cents beiow yesterday's prices. Sues Corp of

Ailas Pdr pf . cago's industries. A yr a Oni 0% In plant) The marketing service estimated 600 Mas Tack ....

“I a >

an pt Re

Am Fish . Coast..... Coast 1 nf Coast 2 pf janet.

TATA

Soh pt 1.3 sy on — bt pot 0 w >

Competition between defense and non-défense goods tends to reduce production of the latter. So when the workers’ wives bring their new purchasing power to the grocery store, they may find that this decreased prolactin has dh stocks, boosted prices, John T. Flynn writes.

WHOLESALE PRICES Wr Re , CLIMB IN EUROPE

NEW YORK, July 30 (U, P).— is that the dollar that starts iSig;.nean wholesale prices at the end career as a government loan at the of the first guarter of this yesr bank makes its first trip to the | Noted Economist Believes arms plant and its second trip hoy more than 30 per cent above (the retail store, its third to the pro-|the general level at the start of the That Consumers Goods ducers of non-defense goods. In|curret war, the monthly bulletin of : other words, the production of non-|statistics of the League of Nations Will Lose Out. : By JOHN T. FLYNN Times Special Writer (This is the second of a series cussing inflation and price control.)

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cease rsssR ans any

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bt BID LID rea ld VW DDL + DOD ps DDD hm 15 OBS CO DUD

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in 14 00 LD et LD 5 et pe £3 00 LI 00 ND ODD bt

bt pt AD et UD ph pt od hy Ua) Gh WB AB eA ND sss md AN

$724 Nh Bown nd Ge SN a “nw Haw a -~ OOH pt bh BG et UD ek WRENS BaD a a ou ed NA na oa

2 Gen Tocre” BN iGen T & R 12 |Giliette 8 R {Gillette S $3 pt Gimbel Bros ¢ [Simbel bE. | Glidden

| Glidden tae | Gobel. Adeit

15 ey ‘Brew is Goodrich

Lner

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sa» “ian 15013 1 NI IIIS LD 1a "-

Wy” UD ee ay

1a Pere M pr pf .. Pet C Am. ... Phelps Dodge .. {Phila C 6 pf n i Fhilco Corp .... Phil Morris .... { Phillips Jns

defense factories and enterprises just received by Columbia Univer gets speeded up as much as the sity, said today. {production of armament factories | The May bulletin's indices of |and enterprises. | Wholesale prices showed that prices If that is @car, then we see what | lin Ger many, where strict controls

“AD «1D 50

- th

Qe 0 LI Sr iab3naes 5 Ora OGL INLINE IRING re

t3 Oe OO LI

ERC NR ANB E AW

«th Austin Nich

at Mishawaka sends its power over salable cattle were received, 500 A ry A

dt 0 00 00 © No CR “

dis

“uw

inte southern Michigan. The Dress- calves, 5500 hogs an and 800 sheep.

er and Edwardsport power plants, near Terre Haute have customers in| outhern Illinois. i Utilities used to be very hush-! hush about this buving and selling of el across state borders. Some st are—on the theory that might place them in interstate commerce and subject to more Fed-, eral control on that score.

270- 300 | 300- 330 PO ay | Mediu

OVERLOOKED in the Far Eastern crisis is tungsten, needed to make high-speed tools. U. §, imported 3500 tons of it in the first five months of this year, 1908 of it from China and Thailand.

But steel makers are cheered somewhat because they have found that molybdenum is an excellent substitute—and this country has more molybdenum than any other country,

REAL SILK Hosiery Mills’ pre-

= >

Tuesday, July 29

Packing Sows

Good snd Choice— 2%0- pounds ..

Slaughter Pigs

Medium and Good— 23- 120 pounds

Slaughter Cattle & Vealers (Receipts, 1808) Binge cv pf

908- 1100 pounds 1100-1300 pounds

1300-1500 pounds

ferred stock went up $2 on the N. Y. Good Stock Exchange yesterday, sold at 238, highest this year. Probable reason: Real Silk reported an $11,583 profit for the first half of this year, compared with $482000 loss in first half of 1840. Late in the afternoon! the whole market slumped, carrying Choice So Real Silk down to $35. je. ¥ { 500- = i

300-1100 1300-1500 Medium—

PROPHECIES regarding hoosjerv: Knee-length styles are liable to become “popular.” Tops and feet of stockings may be made of cotten—with a little silk in between. Cotton mesh hose, probably colored, may become the fashion,

= Cholce—

Mediu - 900 - i commen 300

Cut _

= Canner

ODDS AND ENDS: Distilleries/| and millers are buying up rve be- Beet— cause it looks cheap alongside of Saysage— other grains which have been go- Medium : “ i Cutter and ing up while rye chaged litt

= 5

Xe, . ...}

Maritime Commission has trouble | SIC anc <3 shooters out in Calcutta, Sihgapore, Cull . . Manila, Honolulu to speed cargo | ships (with defense materials) for! U.S. Their orders are to “Keep ‘em

moving. Manufacturers say e450;

500- 800 pounds there will be enough tors made of! 800-1059 pounds

300- “800 pounds .......cceee. 3%. 1950 POURS ...ccoceaeree

edium— 500-1000 pounds

steel, rubber, aluminum, brass, etc. | this Christmas but it will be dif-! ferent the next Christmas. . . . The Government has bought 80 million dozens of eggs since January. Germany got 5!'2 millitn bushels of ! Manchurian soy beans and 11 million pounds of oil before the war cn i

Common

500 pounds Medi um— 300 pounds

ssia. pT = Good

BUSINESS AT A GLANCE

By UNITED PRESS Anaconda Wire & Cable Co. six months ended June 30 net profit after Federal income and excess profits taxes $1.410.519 equal to $3.34] a share vs. $497.259 or $1.18 a share | | Good Year ago. Fruehauf Trailer Co. six dnint | ended June 30 net profit after Fed- | erel income and excess profits taxes | 37.877 equal to 2264 a share vs. |! sted net profit $519.583 or $1.17 a share year ago. Jewel Tea Ce. four weeks ended | ly 12 sales $2844 868 vs. $2.082,741 ago, up 379 per cent; 28 weeks ' $12641 132 vs. $14789,512 year! ago, up 32.8 per cent. St. Joseph Lead Ceo. six menths ended June 30 net profit after Fed- Ind Aa eral income and excess profits taxes Indpir Cor $2518957 equal to $1.29 a share vs. $2,576,820 or $1.32 a share year ago. Skelly Oil Co. June quarter net | Fons DD

Medium — 500 pounds

Good Medium and

Nominal alers.

Bek BR RR

Central Ind

Comwith Lo ook Drug

{Ind Hydr

pounds

700 pounds

Be “200 pounds

-tnéds

§00- $00 pounds

Tuesdar,

cuotations furnished by loca) COnt- Dia y ee anh of National .

Stocks

Agents Finance Co Ind co Agents SR Dates oo Co Ime Ph. & Stk Vos ord

H Home T&T Ft Te

750- $00 pounds pounds 1100-1368 pounds pounds

950-1100 pounds 1180-1300 pounds

Common — 750-1100 pounds

Steers, Heifers 1

. 1 «1

[email protected] Sent

3ald Loco ct .. 3alt & Ohio ... 3ait & Ohio

Jk ph pk od fk fk pt pt ED Cyt fuk hu pak ud fuk Yat 285000288

, Beth 1 | Beth Steel 7

os «w xn a a oo $2

| Al & Br ! Bond Stores ... 23

9.50 Bin OU Gas .. | Bruns-Balke $.00@ 9.50; Bucyrus-Erie | Budd

{Budd Mfg pf . 9.60310.33 | Buad 7, uilar Da Woe. {Burlington M... 20

-1

Nps COD

{ Bush pf “otf Bush Term ..# 5 Butler Bros .. Butler Bros pf 35 Butter Cop & z Byers, Xf Brers ao

[5] ot

“53 LT ‘

al RD OD AD OR AD) =

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3 00! 00:Cal Packing 5 {Callahan Zinc Calumet H .25 i Campbell Wy 1.60 Canada Dry Can Pacific 9.50 Cannon Mills Capit Adm A iCar C & ©O 11.759 12.50 Carpenter Sil | Carriers = Gen [email protected] Case JI -.- 80% ase 5 I .. 11812 lo SG dil ar T a elanese L75@1225 | Celanese pr pf 120 ° ! Celotex . : [email protected] Celotex pf .... 68 Aguirre .. 172 Foundry. 3

ft pt Arar WAN a

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NO 00 00 (LO CD CO OT) iv bn 1D Ty 4 8D “ly

pa tat eA »

8.00% 9.50 Cent tmR Lt ih mn

nd common... ......

(Yearlings excluded)

commen Vealers

Good and choice

medium

Feeder and Stocker Cattle

(Receipts, 700)

«2

sesssen. aan

“esr ecreance

Calves (steers)

Good and Choice—

down 11

down Caives (heifers)

and Cholice— 500 pounds down

down

SHEEP, LAMBS (Receipts, 1500)

Lambs teAeing)

and choice

LOCAL ISSUES

July 20

Association of

ds com

Circle Theater com

com...... Wavne 7 pid Elee 7% com

‘Ind. Gen. Serv. 6% pid ro Elec | Indpls P&L S3a%h ? pid.

% i

om ter 5%

pid profit after Federal income taxes Indpls Water Class A com.

$1,770,828 equal to $1.80 a share vs. | incon Loan $771,680 or 74 cents a share year ago. |

Incorporations - Subsidiary Service Corp., Gary: final dis-| solution. Jeffersonville Bottling Co, sonviile; dissolution. National Bondholders Cop. corporation: withgragsl. S. A. H of Terre Haute, "Terre Haute: no H. L. Bohannon, - D._Foste

To diang polis.

Ine,

Delaware

Ind, : capital stock: patriotic: John H. Cravens, John McLoukhlin Mfg. Co. ticles accepling provisions Corporation Act of 1928: 5000 shares of | common of $100 par value. Tacso Credit Union, Indianapolis: 10,000 shares of $5 par value; Mary Malless, Alma Schiusky, Roy D. Havden Hartsock, Bessie E. Pierv, Pear! Mitchell, Inc., w 2 | Ko

America

ar-|

Minnie N. Adkins. Ww. Sguibbs Distilling Co., Indianapolis Ave, Vincennes: agent, Soquibh, same address: 500 shares ont | Rar value; to ePergte liquor distillery; | ley.

P. Squibb, N. E. Squibb, John R Beas- |

MUTUAL SAVINGS RISE NEW YORK, July 30 (U. Pp) — | Trae Mutual Savings Bank accounts on

thrift and savings efforts. ” the National Association of Mutual Bap ings Banks said today.

Algers. Wins’ American Loan 5s 51

Citizens Ind of General | C Pas,

Co § ha%

Bonds w W BR 4%s ...

n 5s. 45... ... Cent Newspapers 414s 42-51. Ch Com

dg Co 42s 61. Tel 44s 61 s 50

12 | Richmond Water Term Cord 52 *Ex-dividend

ii ae,

. $10.75

Bid.

Cen 2.00 Cent Viol “sug 325 Cerro de Pasco 0%? 7 5p Certain-teed 525@ 6.25) yg Dr pf

hain pe Ppt : hamp Pap pf 19315 Becker Cab . 13%

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{Cleve Graph Br 29% 11.78 Clim Moly Co. 39 11.50 | Cluett Peab . y Clueit Peab pf 138 138° 9. SR&ie: 95: Coca-Cola... 84) 10.50 | {Colgate Po -..102 102: ak .. 5%: 21 12 ih 2

3 Ld NY “58s @ Ww yo

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9.00@ 9.75 Col & So . 1 iCal & So 1 pf. 23 1.35@ 9.00/Col & So 2 pf. 2 {Col Broadcst A 163% Col Broadest B Se oium as . p : [email protected] col Pictures f 0 iciures p [email protected] Com Credit ... 24% gow Inv Tr 32 n Tr cv pf 106 [email protected] Com Raven s . 1134 Comw & So ... 7-16 £500910.50 Comw & Se pf 6': {Comwith Edison 283% | Conde. Nast .... 33% {Cong-Nairn ... 1812 s Aircraft. . 34%: Cig pr pf 96 Copner M % s Edison 9 s Edison of 101!% Film 7

Laundries

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Du Pont pf ... Duques L pf .. {East Air jibes... East R Mill..

East Kod pf . Eaton Mfg . Elec Auto-L . Elec Boat 165, Elec & Mus Ind 11- 18 Elec Pwr & Lt 213

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“an a —.™ We're at your service whenever you have | TOR

14 anything to send—gifts, packages, flowers ... lor a birthday cake. No extra charge for 22's, | pick-up and delivery within our regular “ja, | vehicle limits in all cities and principal | 12 | towns. For super-speed use Are FRPrEss, | 1s | i i

Phone RAILWA Aomwey Ine.

NATION-WIDE RAIL-AT

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| it borrowed six billions. vear, and next year, the borrowings | promise to be enormous—no man can say exactly how much—twelve | maybe twenty It is a staggering fact. ‘only thing that can prevent it may te

NEW YORK, July 30.—For eight tories must put more people to wa ‘years we have heen in an inflation- | ary process—the expansion of money

incomes by Government borrowings The airplane plant increases payBut in the last year rolls, and the shoe plant increases ropean countries occurred in Palese

ed up greatly.

The government has been borrow-

lion a year. Last yea

ernment’s inability

{spend that much. It is this money which is flowing into the pockets of the people. The government borrows it and spends it in an airplane or gun factory or 'a ship yard. The defense plant pays | to workers.

The worker the stores for ries. The stores ce-time factories

1h TD SI «T0000 «1D bs C0 bn on

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Young Sheet p Young Stl Dr..

Zenith Rad Zonite

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styl

appearlicensed

MONEY-BACK GUARANTEE

carrying charge, no co-signers. 124 W. Washington St.

Open Tues,

_ STORES IN |

Weston El In... 3 E pt.. .9 Wheel Steel .... White Mot .....

White Sew M...

Oyerind ! & Co .

purchases and

. Net High Low Close 1% Ta Sl; 1334 84 53% 414 30 1g 1614 11 967%

Timken R B oes

Lb HELL f+ TT

WW A LADD EEN

Le i.

1 a

a ; Van Raalte pf’ ‘ Victor Chem ... 253,

a-Caro 8 pf... 2

PRR R ERT Es:

Fell ER [ . GI ciate Nod adn ®e Nee e Sy

rig ld Bass

DW DBI 1S =] LC SCENE BE

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DBD IIIS 7 - .

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Lower Prices

Pay as Little as 50¢c Weekly

s with far or

optical

charge for No interest, no

No extra credit.

And in this |

billion in a

food, spend which

Change

(happens. Just a oS land buy more raw materials, the |non-defense factories increase their | [staffs and buy more raw materials. |

| payrolls to make more shoes for | the men in the plane plant who are | now at work. Since the war started, 4 factory employment here has gone up from 99 to 124. Industrial pro{duction has increased from 104 to) 157. Department store sales vet {gone up from 87 to 102.

The second force that causes the trouble, therefore, is the competi-| tion between defense industries and | non-defense industries for labor and raw materials. And this brings about the second phase of the price dis-| turbance. The first phase occurs] when the people get more dollars | with which to buy goods. But in| this phase the production of goods | |increases with the demand, too. But! in the second phase the Government has to curtail the production of| peace goods in order to enable the | arms factories to get these goods) and to get labor. So, in this second phase, while the dollars in the pockets of the 1; people who buy are increasing, the ve amount of non-defense goods must | decrease. More people in the | stores clamoring to buy goods; less| «| goods on the shelves to sell them. | Hundreds of thousands of more { people waiting to buy automobiles;

S |

,ionly half the number of automo-

| biles to be bought. Hence the price of automobiles rises. The more, therefore, that we pump Government borrowed funds into the business stream the vaster * becomes the purchasing power of the nation. The more we increase the production of defense goods. the more we must curtail the production of all other goods. And the more we curtail this production, the more pressure is put upon prices to keep rising. But this is not the end of the trouble. The more prices rise the more costly will be the production of defense goods and the more the Government. will have to borrow to pay for them. Thus the vicious circle is completed, since the more the Government bqrrows the more dollars will be flooding around in | workmen's and other hands to buy! food and clothes and luxuvies. The | end of this is disaster unleis means are found to manage it, control it, hold it within bounds. How can that be done?

TRY WORSTED UNIT MAROCUS HOOK, Pa., July 30 (U.| P.).—American Viscose Corp. today announced the installation of a! standard Bradford drawing and | ring spinning layout in its textile | unit here for experimental proce tion of worsted yarns.

as the armament fac- | prevail,

had increased only § per cent, but that prices in the United Kingdom, Sweden, Norway, Switzer< land and Denmark were up from [50 to 80 per cent, The largest increase in non-Eue

Hine, where prices were up around {50 per cent. Prices in the United States, according to the bulletin, were up 8 per cent. The bulletin stated that the ine crease in retail prices lagged. as a rule, behind that of whoesale prices,

CONSOLIDATED AIDS SPERRY GYROSCOPE

| NEW YORK, July 30 (U. P)—~ | Consolidated Engineering Corp. has contracted to take over the worl

of Sperry Gyroscope Co. in the vie bration and strain-measuring equipe ment field, it was announced toe lay by officials of hoth companies. The aeronautical industry, at the |present time, is the principal user {of this equipment. Under the terms of the agreee ment reached by Herbert Hoover Jr., president of Consolidated and R. E. | Gillmor, president of Sperry, the gye« [roscope company will turn over all of |its patents and patent applications | pertaining to the strain-measuring | equipment. field to Consolidated.

ORDER VOTE AT BATESVILLE

WASHINGTON, July 30 (U. P., The National Labor Relatione Board yesterday ordered a collective bargaining election held within 30 days among production employees of the American Furniture Co, Batesville, Ind. Workers will decide whether they wish to be represented {by the United Furniture Workers (C. 1. 0), by United Employees of Romweber Industries, unafliated, or by neither.

DAILY PRICE INDEX

NEW ¥ORK, July 30 (U. P).— Dun & Bradstreet’'s daily weighted price index of 30 basic commodities, compiled for United Press (1930-32 average equals 100): { YOSLBYABY ious varevivevanes 14188 | Week 880 .. uv ioivorses ieee 140/80 | MONA R80... cv vv vu vr ov eneee 13590 Year ago . ’ 1941 high (July 25).....00.¢. 142,02 1941 low (Feb. 17) ....00000..« 123.03

veNeed a LOAN On Your Home?

UR NE $.!

ok ALE 116 N. Delaware St.

All STRAWS REDUCED

All styles—but limited quantit

Levinson

3 Stores

SHERWIN WILLIAMS

el a Paint tor Every ey it Lasts Longer.

VONNEGUT'S

®:

WHEEL CHAIRS Why buy one? Rent one at HAAG'S ALL-NIGHT DRUG STORE 22nd and Meridian EEE———

«=Ask to See the “Clifford” WATCH #t EASIEST TERMS

12”

MODERN CREDIT STORE

129 Ww. Wash. Indiana Theater

Is Opposite Us

WASH SLACKS

Plain or Pleate« Sanforized Fabric

$1.50 & $2.96

wh ag Sat. eves. Founded Toot mm

iA 3

Leon Taller Ing

USE YOUR CREDIT at IIIB ISH WINN ES

CLOTHING COMPANY

131 W. Washington 86

Direstly Opposite Indiana Theater

WASTE PAPER

AMERICAN PAPER

STOCK COMPANY RI1-6341 320 W. Mich.

FIR (COATS aaa] YL

INDIANA FUR CO.

Chi Fadel ile

| BAR in the

p16]

the new ‘EVERSHARP PEN & PENCIL SETS Guaranteed

$8.1 for’ Life

STANLEY JEWFIRY CO, \ Peon Rote! "Bide.

TRY A WANT AD IN THE TIMES. THEY WILL BRING RESULTS,