Indianapolis Times, Indianapolis, Marion County, 1 August 1941 — Page 17
BUSINESS
Indiana’s Beer Industry Is The Smallest in the Midwest By ROGER BUDKROW
AMONG MIDWESTERN STATES, INDIANA is the “little brother” when it comes to the beer business. Illinois, Michigan, Wisconsin, Ohio and Minnesota all rank far above this state when it comes to the number of persons employed in the industry. A survey made by Standard & Poor's Corp. for the United Brewers Industrial Foundation shows that 4 N HOGS Indiana's beer industry had 13077 PRICES 0 employers and meme on STAY THE SAME year. This compares with 70,000
nli-
20
of the list. When the Census was taken in 1939, Indiana had 16 breweries which employad 1650 people draw- | Fo hy ages of] $2,500,000 a year. : 2.000 Roger Budrow There were 209 : Sa salaried officers and employees whose : 500 salaries totaled $735,000. Indiana’s . 5,500 beer output was valued at $16,600,000 . 7,654 a year, . 53%
‘Top Remains at $11.65 Here: 5000 Porkers Arrive at Yards. HOG PRICE RANGE
1929 '30 '3}
CANN AWW) QA NWN MN w AW WNW Wa
ADE, FINANCE, SERVIGE AND" GOVERNMEWT
The beer makers point out that y 3 they paid $1.386000 in state excise" : 5.000 taxes in Indiana last year and far : | more than that to the Federal Gov- H ices were the same at Inernment—$6,000.000. Total earnings diRTaponS stockyards today as they Adam of the beer industry in this state were yesterday, the Agriculture dressogranh were placed at $11228000 for last|nrarketing Service reported. EWay year. The top remained at $1165 for §y 5 9 good to choice 200 to 210-pound BECAUSE Talen zippers are 80 | Vealers were steady with a $1 per cent copper or copper alloys |top. Cattle trade was slow. Spring and because copper is going inte lamb buying was active at steady defense products instead of zip- i pers, the Talon company in Meadville, Pa. will curtail preduction 25 per cent. let approximately 1300 employees go. |
» ¥ *
THE AVERAGE loan made by Indiana banks in the first half of this year was for $781, according to an American Bankers’ Association survey. Banks made an average of 774 new loans apiece in the sixmonth period. " [email protected] On an average, Indiana banks nes Rain renewed 791 loans and the average 9.95 renewal was for $795. The average 188 9.75 bank made 33 new mortgage loans 9.25@ 9.50 [email protected]
EEEEREEE Fel885 72 PER pon
B58 Ee
which averaged around $2762. Slaughter Pigs
> = = ed d Good— INDIANA HAS 29 power plants | $0- 120 pounds .......
that use water, instead of ceal, as CATTLE ore 8 POW. hese ave Slaughter Cattle & Vealers (Receipts, 300) horsepower, according to the Federal Power Commission's latest i S35 a report. Nine of them are owned ‘ 12. 75 by individual industrial concerns. |1300-1500 [email protected]
= = = ODDS AND ENDS: U. S. Treas-|} ury has refused to allow Silesian- I atuislls American Corp. to sell its coal and JiS0 10 pounds zine properties in German-occupied| 750-1100 pounds ....... Poland to a “Swiss banking syndi-|cnice. Stor Meifers cate.” . . . Use of staple cotton J99; TS pounds
instead of cotton linters to make] 500- 750 pounds smokeless powder will be given a!mnoice— test at the Hopewell, Va. plant.] %50- $60 pounds . . More stocks were traded in ol July than any month since December — several million-share days. . SEC has ordered United Gas Improvement Co. to sell all its interest in 13 companies that havejGood ......................... th Steel nothing to do with the utility busi-| cutter and common. =... 0. . 390@ 3.23 Beth St 7 pf. ness—ranging from real estate]Canner y 08) Bltek firms to ice cream manufacturers. . President James H. Rand Jr. of Remington Rand said his company made only $6800 profit on defense orders in the last three months, thinks no company should make any profit at all on defense! ;..4 and choice ........... work. Sommon and medium
LOCAL ISSUES
"Nominal auotations furnished by local Choice— it of National “Association of Securi 500-800 po! alers. 800-1050 Pounds Stocks Bid.
5 500- "300 pounds Azents fs Sinahee Co Ind com. 54 a ; ’ 300-1050
BEEEEREEE
“ener vereen.. [email protected]
[email protected] [email protected]
7.50@ 9.25
a ue i A AR i A ff A Fa A Saas fA fa oie 3
& WI... htaticevase [email protected] Au Refining “oe as Cor Reifers Aviation Tootn ..
. [email protected] [email protected]| Bald Loco ct...
Vealers
Feeder and Stocker Cattle (Receipts, 100) | Steers
Cel! Packing ... Sajishan inc.. Calumet & - Camp! Bell wy... Candds Dy “ean n “es Calves (steers) Cannon Mills ...
Good and choice— car gtis Cal ty .. Ind Asso Tel . [email protected] Qarpenter S
Ind & Mich Elee 7% ofd.. TLL. | Medium— Case J I pf ....120 Inde IS Gas tet S00 pounds down ............ [email protected] Caterpillar T 53
n q 8 Sen Serv. 6% of Calves (heiefrs) nd Hydre Eee 7% and choice— Celotex ipls P&L 51 “pounds down ....... . [email protected]
500 pounds down . [email protected] SHEEP, LAMBS (Receipts, 700) 0. Lambs (spring) Cer’ n-td 6 pr pf 32
Champ Pap pf..10¢ Good An Shoice .. [email protected] Dor Medium and good 35d 33 Ches 3% 1
pounds
Belt RR & Ss ; 56 Central Ind RO ; fd..... 131 Circle Theater on Smeith or 55% ofd
1 A Lincoln Loan Co 515%; nfd Lincoln Nat Life Ins
ress La CY SOM... uu. Pub Serv Co of Ind 6% pfd ... Pub Serv Co of Ind 7% pid... *So Ind G&L 48% pla Terre Haute El=c 8% Onion Title Co com Van Camp Milk nfd.. Van Camp Miik com . Bonds
Algers. Wins'w ¥ RR 4%s .. American Loan 5s
Ewes (shorn)
-1 Good and choice Common
hier. SSB 35 end medium ©
225@ 3.2%
CHICAGO LI LIVESTOCK |&:3:
Hogs—Receipts gh Tolehts 240 lbs. and down, Sows TE Oc higher; heavies
n t steal to 1 BR) 5 i Rae 240-270 Ibs. $10 1886113 lo Colgate P P Silt Sa re aT $10@1 0 Se ise ttle—Receip! A
Citizens Ind To 4%s 61 50 no liable outlet or tht
Consol! Fin aD Re Jor 5s 42. Home 2 3 TXT Ft Wi
re-
of Ind 3 Pub Tel Co 42s 5 104% Richmond Water Works 5s 57.108 Trae Term 8s 57 7 *Ex-dividend. WAGON priv
v5 Un te the close oi the Chicago market 85 . western today Indianapolis flour mills and erain| SP : .50; bulk} Con elevators paid 89c per bushel for No. 2 i ice 8 22 fing Cont
§ wheat (other "Tages on their me from a ewes, Ww 9 down ro Rew oe bh Bo rally: Coty
gmes LIVESTOCK
INE has.
:. NX. 32 white oats. 33c.
ELECTRICITY OUTPUT ry SETS NEW RECORD: &
NEW YORK, Aug. 1 (U. P.).—|380 Ibs. $10.50; 350-400 Ibs. So; 150-140 Flectricity production rose sharply|ibs. 25; "$10.10. = Roughs,
Net nd High low Last Change —r
Abr. & Straus. . . 4 Ss EXp .... a
San 8 & Decker 22% OX cone Bs
ot Yesterday 1 1 fhe ii | week ‘Age oi
+ 3% +1-18
High (1941), High (1940),
High (1941), High (1949),
'32 "33 '34 '35 '36 '37 '38 Non-agricultural employment reached 38,278,000 in May this year, a new record, and about 3!; million more people than a year age, according to the Retailers’ Advisory Committee. Estimates of unemployment. Top Receints| vary from 4 million to 5! million today. Older workers are returning to their jobs and some college students are quitting scheol to work, the Social Security Board reports.
NEW YORK STOCKS
By UNITED PRESS
DOW-JONES STOCK AVERAGES | 30 INDUSTRIALS
Nigh (1941), 133.59; Lew, 115.30. High (1940), 152.80; Low, 111.84, 20 RAILROADS
WR —0.43 bets igre 363 "30.61: Low, 28.54, 32.67; low, 22.14. 15 UTILITIES
20.65; low, 16.82 26.45; Lew, 18.03.
'39 '40
Maan
‘4
MILLION 40
'42 '43
1 1 Food EF EF
Gamewell
Gen Baking - Gen Ci
Gen GRE A.
Gold Goodrich Good
Gr
at North
bel] Sa tral Im if
Inland St!
“oe a o
High Low
Fruehauf Tr ...
Gair Robt es
th Hos pf.. Chinam-Paife .
Gt West 8 2 Green
i | Gitvhound £C 13% Grum Air : 13%
Houston Oi! .. H B M&S ..
nd Rayon . Cos
Ral 00 Sx F..
334
- 2 a 24%
22 —_—G— + 10% i
Gar Wood Ind’ Mu Gen Am Tr . + 58 .
Gen Le “os Gen Food: 0%
5s
grand un es 1034 « J
Ha 3
Jon Jones Taam B tan
fe Ss F),
Last oRanige
| Norwich Pharm.
Otis Stee Owens iy Glass,
Pa¢ Am Fish . Pac Coast Bue Coast 2 pf. I
al I Pac T&T pt. Pac Tin Cons. Pac West Oil .. Packard
i — —
V'0'U'00 0 San
d Crk Poca.
J fon Carb
i Cal Un ‘ Un
Finance ... El ..
s & W Va.. ymoutn oil" .
jnion B & P. 11% Yl Mo bt 113 {
I ddan 1 — O10 10 T1183 © 00 1 3 1 Ct 1 3 1s 3 1 e
AES
2
NNW [x3 CIV CIN P= OO si
Net Last Change —
3
Urges Production Increase, Reduction in Public Buying Power.
NEW YORK, Aug. 1 (U. P.).—The National City Bank of New York predicted today that the Government’s drive to head off inflation will fail unless price control measures are backed up by a program to increase the national production and cut down public purchasing
power. In its monthly business review the bank cited “serious weaknesses” in the Government's anti-inflation program and warned that the country is threatened with a repetition of the disastrous upward price spiral of 1914-1920. “The attempt to deal with inflation by price-fixing is an old story on the records of history that invariably has ended in failure,” the bank declared. “Only in Germany in the present war has price-fixing seemed to have a degree of success — accompanied, however, by a system of espionage and punishment far beyond anyiE conceivable in a democratic country. Moreover, the full history of the German experiment has yet to be written.” The bank admitted the necessity
‘of priorities and price control in
the campaign against inflation but insisted that “unless attention is given to the fundamental source oi
. inflation—more buying power than
goods—the battle is lost at the
""12|start.”
:|car companies had
The bank urged that production of essential goods be increased through elimination of strikes and lengthening of the work-week, and
1*| recommended that purchasing power
be reduced through a cut in government non-defense spending, in-
‘creased sales of defense bonds, and
broadening of the tax base to “reach the great bulk of consumer incomes.”
AUTO FIRMS START
MODEL CHANGEOVER
DETROIT, Aug. 1 (U. P).—The automobile industry virtually closed its 1941 model year today with production in the United States and Canada totaling an esti-
. | mated 5,500,000 units, only 100,000
short of peak 1929 output. A total of 62,146 cars and trucks rolled off assembly lines this week, a sharp reduction from last week's 105,635 units but considerably more than the 17,373 vehicles produced during the same week last year. The authoritative Ward's Reports said virtually all domestic passenger completed manufacture of 1941 model cars yesterday. A few, however, will continue production next week. The voluntary 20 per cent curtailment of automobile production became effective with start of the new model year today but manufacturers have been advised that an additional cut, probably as much as 30 per cent, will be ordered by the Office of Production Management to free additional nten, materials and machines for defense. With most plants closed down for the model changeovers, the cur-
. tailment probably will have little
effect until manufacturers swing into production on 1942 models
. later in the month.
(INDUSTRIAL STOCKS
i LEAD MIXED DECLINE
NEW YORK, Aug. 1 (U. P).—Industrial shares led an irregular decline on the stock market today with volume light. Bethlehem Steel was the weak feature. At its low of 7534 the stock was off 21. points, reflecting an earnings report reduced by a sharp-
: ly increased tax provision. In early
afternoon, the issue had rallied
Fi slightly from the low. Other steels
were fractionally lower. Copper issues were a shade under the previous close. Motors receded only small amounts despite a sharp reduction
%|in automobile production as lead-
RR RREEa FREE
ing companies continued their change to new models. Oil issues generally receded on
: the plan to close gasoline stations :| evenings to conserve supplies. Mer-
cantile issues were better than most groups on improved sales reports.
: GORN FUTURES UP
SHARPLY AT CHICAGO
CHICAGO, Aug. 1 (U.P.).—Announcement of an increase of two cents per bushel in the asking prices
‘i,jof Government-owned corn at
terminal and sub-terminal markets boosted corn futures sharply on the Chicago Board of Trade today. Wheat and other grains shared in the advance. Soy beans as well registered moderate gains. At the end of the first hour, corn was 1% to 1'2 cents a bushel higher
«| With Sept. at 763c. Wheat was up
Ss to lzc, Sept. $1.06%:. Oats up 2 to %:c. Rye up 11% to 1%ec, and soy beans were 3. to 7sc¢ higher.
COMMERCIAL CREDIT FINANCING AUTOS
Commercial Credit Corp. today
{2| announced the opening of an auto
loan department, operating under the name of Commercial Credit Plan, Inc. at its new location, 247-
OF PRICE POLICY
Light and power for an ever-growing number of U. S. farms is being provided through the Rural Electrification Administration, extent of whose systems is shown by black areas on map.
U.S. PROCESSES WOODY ERSATL
May Be Substituted for Aluminum in Plane Manufacture.
MADISON, Wis, Aug. 1 (U. P)). —Here in Dane County the Federal Office of Production Management undertook an experiment in collection of scrap aluminum, Citizens searched their kitchens, pantries and attics for old aluminum pots, pans, ash trays and similar articles which could be melted for use in airplane construction. By coincidence, Dane County is the site of another defense experiment which also may make the aluminum situation less pressing. Scientists at the U. S. Forest Products Laboratory here are . perfecting a wood product which they say is lighter than aluminum—yet as tough as steel. So far, they have discovered no reason why it may not be used in airplane manufacture in place of aluminum. Forest Products technicians have dubbed the new substance “compregnated wood.” The name is derived from the fact that the wood receives its peculiar qualities through processes of compression and impregnation.
Phenol Base Used
“Compregnated wood” is made in this fashion: Thin sheets of wood first are impregnated with a solution of phenol and formaldehyde, the bases of the phenol plastics. These sheets then are compressed into a solid mass, less than one-half their original total thickness. The resulting material is one which laboratory tests indicate may revolutionize airplane construction as well as manufacture of mosquito boats and other small craft used by the navy. Technicians report that it reacts to rupture, tension, compression and elasticity tests in much the same manner as ordinary mild steel. Its test values are said to be four or five times those of the best natural woods. Yet it is only one-fourth as heavy as aluminum, lightest of ordinary metals. Another virtue of the new wood is its smoothness, which is comparable to that of glass. This may help areonautical engineers to overcome one of their most persistent enemies — speed-reducing parasitic resistance, or “drag.” Moreover, the surface of compregnated wood is more impervious to weather than paints or lacquers; no paint would be necessary on an airplane constructed of this material.
Wood Easily Machined
The new wood is easily machined according to Forest Products scientists. It can be readily sawed, drilled or turned on a lathe. Technicians emphasize the dif{erence between compregnated wood and “plasticized wood,” which has received wide attention as a material for airplane construction. The latter is plywood bound ' together with phenolic resin glue under heat and pressure. This glue, or plastic, is applied to the surfaces of the plies. But in the manufacture of compregnated wood, the original plies are soaked in the raw ingredients of the plastic, phenol and formaldehyde, dissolved in water. The solution penetrates the cell walls of the wood, the water is eliminated as the wood slowly dries and the blended phenol and formaldehyde remain as a film of plastic on the inner surface of the cell wall. Then, when pressure is applied to the plies, they become a homogeneous mass. Dr. A. J. Stamm, the laboratory’s senior chemist, has found that conifers yield the best wood for the manufacture of the new product. But success also has been had with other woods, including poplars, cottonwood, aspen and the gums. Scientists here do not predict that entire airplane fuselages or wings soon will be stamped out of compregnated wood.
Who Owns That $3,000,000 Cash?
NEW YORK, Aug. 1 (U, P).The Nazi bombs that blitzed Rotter dam presented the financial come munity in Wall Street tcday with the intriguing question of who owns and controls the $3,000,000 in cash and half-dozen once flourishing corporations whose spearhead is the Union Banking Corp. The best guess is that the prop= erties and money belong to Fritz Thyssen, the German industrialist who help&d Adolf Hitler rise to power, and who has since been reported variously as out of favor with the Fuehrer or acting as an advance economic for the Reich. Thyssen’s: whereabouts are une known but the chief zdministrator of his property here is Cornelius Lievense, a Hollander who also is president of Union Banking. Ié&cense, who came here in 1926—two years after Union Banking was formed—insisted he was unable to say who owns the bank and the company. : Government sources were said to have discovered, however, that capital for Union Banking came from the Bank Vonn Handel en Scheepvaart in Rotterdam, one of Thyssen’s chain of continental banke ing houses. “You know, of course,” Lievense said, “that the building of the Bank vonn Handel en Scheepvaary has been bombed out of existence. Where is it now? Who owns it? Who knows?”
ALLIS-CHALMERS CO. IMPROVES PROFIT,
MILWAUKEE, Aug. 1 (U. P.).— Net earnings of Allis-Chalmers Manufacturing Co. for the June quarter increased over the comparable 1940 period but profits for the first half of 1941 were reduced because of the strike early this year at the company’s West Allis works, Max W. Babb, president, reported today. Mr. Babb placed net income for the quarter ended June 30 at $1,793,108, equal to $1.01 a common share, compared with $1,639,889 or 92 cents a year earlier. Tentative provision for Federal income and excess profits taxes amounted to $1,420,000 against $733,000 a year ago. For the six months ended June 30 net income totaled $2,389,577 or $135 a common share against $2,600,758 or $147 a year earlier. Provision for Federal income and excess profits taxes was $1,765,000 against $1,040,000 in the first half of 1940.
Tune In On
WISH
(1310 on Your Dial)
EveryMorning
(Except Sunday)
7:43 to 8 A. M. ®
AYRES’ Men's Store Presents
“The Morning News”
po a
. 49 N. Pennsylvania St. Commercial Credit Corp. recently moved to larger headquarters in the Penway building. The office force has been enlarged to about 50 persons.
FOOD PRICES
CHIC Aug. 1 (U. P.).—Apples— new), iinols bu, Sage oma oes— California, ugs, $2 inach— Illinois, bu., 3L Cauli We ington, crates, $1.8 5@ 1.90. Carrots—Oalifornia re { crates, [email protected]. Lettuce—California, Wainer Br pf. 2 crates, $3.25@4. Sweet Potatoes—TennesWarren Br .... 13; 1% IE cs see, bu., 85c@$1. Onions (50-1b. sacks), Tlinois, yellow, 80@Y5¢; California Yellows, $1.10; Washington Yellows, $1.10.
fot
SERS EEE SRE renanisto LIS
NSuas
ss in the week ended July 26 reach-|38.25: stags, $8; calves, $12.50: lambs. |Curtiss-Wr ... ing a new all-time high for fhe $10.25; yearlings, §V. Cutler-Ham . third consecutive week, the weekly report of the Edison Electric Insti- Cal, IRD us at tute disclosed today. v A ens. “ag
i Tee, eavy el % Output for the latest week was hens, u pibs.. full rea : Leg- D placed at 3,183925,00 kilowatt hours,| coringers, ns hgers, Barred and ey rs | Bet an increase of 15.3 per cent over the 5 Rock, ite No. 2 sp 3 apd 2760935000 kilowatt generated in| Jyte Rock, lic; Erthetn rincers. § Blam Mt the 1940 week. In the preceding Ib. and Syer 1 Ne “cocks, week production amounted to 3,- y %@ste: No. 2, 35@
Butter—No, 1, 36 i 3515¢; butterfat, No. 35¢: No. 2, 3.
re 36 2 Sana SERRE Hi pt WR
Davidson eh cu
Vadsco Sales
va an 2 Nasite p pt..
ve Ei&P 6 pf..
alts.
a OL wT DW 100
of 9
®
a a Led
FS
aa
fe 15
FNS
Summer Store Hours
Halt ES »
«JUDO SP
of oo wet -
~ ad ND bt
(Co! Wadley
DAILY PRICE INDEX U Us srmEwEN B NEW YORE, Aug. 1 (U. P).—| SRR. Pear through sly 0 compared Dun & Bradstreet’s daily weighted| with a year ago: price index of 30 basic commodities compiled for United Press (1930-32
A) equals 100): Vest .. 14074 “rests. 14202
..... 11330 . > : 1 High (uly 25) 18202 w NAPOLI CLEAR Rs TI Fair Morse .. . 40% 40% 1 Dow (Feb. 17) ........ 12308 TRI LTE Fajardo Sug ... 21%: 21%
-_p- 3 Tw
NOR on pra i hi «
oe
DAILY, 9:30 A. M. te 5 P. M. SATURDAY, 9:30 A. M. te | P. M,
25.80 3 or
ft oy
mm ro. ’
Net High Low Last Change
ibe Seana is V ¥ n & Go.. 6Y:
ot ft pt © ot et OY 333
Va
1
ad 5 S.
- C0
AYRES & CO.
ings r pt 8 Wor! pr » of..
ra 49439
ERE REE RY
Bre ah w BS EB SE Rea a
ws Noa
ellow Tr ._ .. oung 8 & W , oung Sheet | Young StI Dr..
- ao
I TP RI
il