Indianapolis Times, Indianapolis, Marion County, 27 August 1941 — Page 16

i WEDNESDAY, AUG. 27, 1941 REMEDY NEEDED | Digging Up Chicago's ‘Past’, ror Hoaroine ¥ OF DEORE ©

PAGE 18

BUSINESS

FINAL STOCK QUOTATIONS YESTERDAY

By UNITED PRESS

DOW-JONES STOCK AVERAGES 30 INDUSTRIALS Verterday «....viviiiiannens 12858 Week ARS ..ivvisinaatasaaes 126.01 Month Age PEAR RARARARR RLS 128.9%

» Net Low Close Change

5% 9

High Low Close Chan wna Pitts Se & B... Pies S68... Plus Stl pf

3% LON0 3 a +044 =O. . 1%8.8Y

Stokely Bros. Canning Concern ica: Doubled its Profit Last Year| ti.

ee —ee BY ROGER BUDROW

: INDIAN "season, if the experience of the Stokely Bros. concern is a typical example. the first of June when the next season’s pack gets under way. Stokely’s annual report to stockholders shows that the profit of $715,588 last year was more than double the profit of the year before. The profit of the last two years just

. . Am about equals the losses the company had in the previous two im Com

years (193% and 39).

The big packing concern, Which)

has its headquarters here, was PORKER PRICES

founded just 80 years ago in a small cannery in the high-| lands of eastern Tennessee. That year only 4000] cases of tomatoes were packed. Today the! firm packs 128] items of fruits, vegetables an 4 juices, has 4 canning factorReger Budrow {es and last year| packed 12'¢ million cases of food | ae : Ang Ten canning factories are in In- Ave. diana—Indianapolis, Anderson, El- jue wood, Greenwood, Jeffersonville. Aue. 3 Peru, Tipton. Whiteland. Green- Awe. field and St Paul. There are 11 Awe in Wisconsin. The others are scat- Awe. tered all over the country. from | California to Washington, from| All hogs sold 15 cents higher than | A Texas to Florida, to Massachusetts vesterday at the Indianapolis stockThere are two plants in Ontario. [yards today in active trading the! President W. B. Stokely Jr. re- acvjeulture Marketing Service pe- | AU ported sales last season were the| .... IAN highest ever, $21.600000. At its big|P° pl ant here Stokely Rros. is putting Sows were about steady. Today's up “Type C Ration™ for the Army. top was $12 for several loads of | This new business is “not seriously choice lightweights. interfering” with the Rg Fed-cattle trade was fairly active | of its regular canne Bh to the N Ade. Ne Stokely said. land generally steady. Low-grade As far as wal reports go, the, cattle sold slowly at steady to Stokely report is one designed to | weaker prices. Cutter to good cows catch the readers eve, being Rlled ye mostly steady while canners| with charts and photographs de gere weak and bulls gull. scribing the companys business. @alves sold steady in active trade. | Too many annual reports are still gpring jambs and slaughter sheep nothing but pages of figures which were steady. leave many stockholders out in the| cold when it comes to understanding what the company is actually | doing.

Top Returns to $12 Here: 6000 Hogs Received At Stockyards.

HOG PRICE RANGE

Ton Receipts]

15% | R000 2.000

12.90 000

sates

nn an

~~ >

pounds poungs poungs poungs poungs pounas pounds POUNGs

33%

» J . IRAN, which Russian and British forces are taking over, has untapped mineral resources such as lead, copper, antimeny, manganese, sulphur, iron, gold, silver, tin and sine. The oil fields, of course, are the most publicized and probably most

important of its resources at the present. The big oil company in “Iran is 33 per cent owned by Britishers, The Shah made trade concessfons to Germany, before the present fighting, but mest of these were in consumer goods fields.

FES 353 yo BEBE CINE CEN CN CAN HDDIHDIDHED

8355183388

Q * pounna

Coty 33 pr rt pt pt” wh pt yok tl

pr EC a it i ot pu yt ba

ww Pp py ye at pt pl a

5 a yo te Rp KP yo

2

: 7

pounds ‘es Packing Sows Choice pounds DOURGS pounds

voungs pounas pounds oounds .. eo “ Slaughter Pies and Good pounds ¢ CATTLE Salughter Cattle & Vealers (Receipts, 1200) &

¢ 4 & Rg Reto ds un ODDS AND ENDS: Ford Motor He % Bones Co. which collects dues for the 11 NR pounds > pounds union under its recently-sighed con- . tract with United Automobile Work- | T50- 900 pounds ! S20-1100 pounds ers (C. I. 0), collected $38 in initiad~ | 1100-1300 pounds tion fees and dues from Ford work | GOI 1500 pounds ....uue ers in Indianapolis in August, col- | 150.1100 pounds jected $132.224 from all Ford em-| Helis founds ployees in U. S. Mexico is ex-| com pected to buy 5.300,000 bushels of 0 1100 Bounds ITI U. S. wheat because of their drought | 3500- 750 pounds

and rust damage. The Agricul | & ; 500~ 150 pounds

ow

SEARLS Shasta R Ree AAR EEE EEE RY)

gr HBO BSED

3 283 S323 243 S80 @ A 3 ¥83 F383 ee

-4

nusanse SR LE JAR)

SRRARRARRNLNY ture Depart ment will start buying |G Geis apples for reliet distribution soon eter after Sept. 1 at prices 20 to 25 cents] | Chale 3 above a year ago, plans to dry some. |g S00 pounds ooo. . Metropolitan Life Insurance Co. | | Medin 200 pounds . says peor 2 suicides gt Es S00. S00 pounds seven months this year was lowest Common— in 13 years because of “favorable| 0% #00 pounds economic conditions.” It added the| vs general health figure of the nation | Medium vraeeaee was favorable with the exception of | Sn and common an increase in auto accidents.

LOCAL PRODUCE

Tuesday, Aug. 28

Dreed colored hens, Nl feathered der § bs

ILV3Q12.2% « 10.30@11.%8 v.00@ 9.00 09 8%

of

23D 1.78

na 8.1 BE 1.25 0s 538

God Sausaj

Medium . on Cutter and common Vealers

Good and choice TANvA SoRmen and medium

Feeder and Stocker Cate (Receipts, 800) Steers

ceaeanaaae es 310.28

ShRsRRRRRRNY 33

na 2.00

os a and | breed | .k feaine rea, Yee. No. | breed hens, 11s Leghorn hens. Le SR DENY Ie PF 1 nite Rock, 1 ® Prin! A 132: ¢olo ored | : Leghorn 2. Leghorn over, lie:

Current receipts 54 lbs. and ww. | TR pounds

Butter — No WE No. 2. 38@ 300100 voun 383s; butterfat, No T No. 2, 33e. ge 300 pounds Ader en’ PICKUP Dri ices Quoted by “l= $00. 1030 Plunge

Sasa RRAR ALS

’ RIN 300 pounds DAILY PRIC E INDEX | 200-900 t DOURAS ‘iiaaiisaiee NEW YORK, Aug. 27 (U. P). Calves (steers) Good and chotce— Dun & Bradstreet’s daily weighted | 300 pounds down price index of 30 basic commodities, | $00 pounds down compiled for United Press (1930- 32! Calves (heifers) ‘a tA Good and chotce— average equals 100): 500 pounds OWN ...iiiaiaees [email protected] > Medium — Yesterday errs cc srt 143.96 500 pounds down .. 8.30810.50 Week BRO Lvvescacnasencannns 143.22 : SHEEP. LAMBS (Receipts, 1800) Month ago Lambs (spring) Yer 380 ....cotunren

141.14} 113.03 | Good and choice IL High (Aug, 26) Sammon 3, food 1841 Low (Feb. seraaasaan

in 3. 98 |© ommon Advertisement

FALSE TEETH

FY LIne nw! he aew t oo0se He Ne lt usa ol Expenses Receipts | Gross

SLttAara RRS

[email protected] sNeN.N

SAAR

caesarean

Sra

SRA RAERN Ewes (shorn) | Good and choice {Common and medium

U. S. STATEMENT

WASHINGTON, Aug. 27 (U. P) —Government expenses and receipts for the current fisea pared with a vear his Year $2, JR 889, is R $1. 8 48. 13,

335452

Bz LSBU ELS

or “

a por -

| i £2

a &

A'S CANNING INDUSTRY PROSPERED last/ {ics 1

o . . | Amerad Most canning factories end their year along 3 Am

|:

RISE 15 CENTS

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34 4 133s 155% 5% 8 as 5 V4 th

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Rts W 1%

2 118% 19

Ate Atchison gn ve Atonison pf... t1 €C Line ad & & “ & WIp Atl

Min Cord Atlas Par | Austin Nich. Aviation Corp | Aust Nich pr A

Bald Loto et... Balt 3 up. . Balt O pf. Barber Asphalt Balsall . a

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Burlington M . Burroughs

oe A FBI

ry PHC pt fpr www

0% Wie . 97% 10

BYTOn Jackson.

i Packi . 2% allahan he v3

“apit A Spins T a ARE br BS 81

C Cop Chrysler A City IR savanna City Sto 3% Cleve N hn of 113 Climax Moly Co 40% Chet Pead . Cola A

Col Fuel Iron Col Slesgeat: A

um gas Sa A. Pictures ... Pictures it: Credit

F441 +4

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++

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Dom i . Douglas Aire . Dow Chem .

303% <A 7% Dresser RR “

18% 18% ‘ape 33) 18614 Duaues L pf ...112 mR

6) East Air Lines. Eaton Mt

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to BisaB oy r

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I+ 41:

AY AS You WEAR THEM

Don shortage of ready cash keep you ig getting § glasses : Meter "0 raved A od fi complete with y TORIC scientifieal

eh 1 for far round lenses, for fa BUY DIRECT from our ittle each week.

local 15-DAY TRIAL!

Convince yourself by 15 days actual test, at our risk, that this is the st bargain you ever had. Perfect satisfaction guaranteed, or no

cost. All lenses ‘ground on prescription. EASY PAYMENTS REPAIRS Broken lenses licated, es

No extra charge of kind for ts. Price Is same as for S58 repaired and aced. PRT charges. prescription filled. Lowest prices.

Nerul, BO SAITVInR acum 128 W. Washington St. N TS RLCARY Open Tues., Thur. & Sat. Eves to 8 P. M. SV. = Tela! Cink

PRICES LOWEST

i to

\DT | 1 ER

ICA

TT

4 +h)

CASH IN A FI 7

AUTO LOANS

20) Months to P- {-Y

SACKS BROS.

% onesie

Year Af® ....ivsssanes “aun High, 1941, 133.39; low, 115.30. High, 1940, 152.30; low, 111.84, 20 RAILROADS Yesterday ...... sevaLeAAS vis Week Ago .. Month Age Year Age High, 1911, 30.88; low, 26.34, High, 1989, 32.8%: low, 2.14 15 UTILITIES

$0.40 80.21

SABRE RANSARN ALS

High, 1941, 20.65: low, 16.82. High, 1980, 28.45; low, 18.08.

2 =53

North 9 | Gt West TE “n 28,

reen | Grevhound Cp. 134 | Grumman Air B 13% | Guant Sw 3 Be 3%

Sut Me an f 20%

Pe Hanna 5 pf ...101% Harb-Walk 2

MF “ve %

Interlake Ir . 8 t Business M 158 Harvester 53 Harv pf ...164% 18's Marine 8% 8'% ool 39 sven 3 4 » . 28% 28% 41 4)

ohne M 682 Johns Man ‘pt 123% ones & Lo 25% pf A 8 pt B 81 —- 83% 5

+

Kalamazoo S&F Kan C Sou . a Kelsey Hayes B Tia necott

+ ¥ B= Stl... 13% Riv Sa “ ne ; a

Kress .. ae

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G&E Lou & Nash ... 68

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the Chicago . tony 3 A A four. mills and gr

m {So Por Re Su {Se Por SE [Sosa PN 18% {So vd 21,

Ca | Southern Nat G

Std Brands of 11 2 Std G 3g Std G & gh of 2% S39% 2m 132 Cal 23% Si A nd. 31'z Std Oil N ve 43% Std Oil Bie. 423% Sterl Prod .... 6134 Stew-War Stokely Stone & Web. . oe Stidebaker set

Oil Sua Oil pt A 1H Sunshine Min. 7 Superhtr yisv 39 i 17%

Timken R B .. 45% Transamerica 42 Tri-Cont wire I's 20th Cent-Fox 8's 20th- Ce Ra pf. 21% Twin a: ‘ Be Twin

Union B&P .. Union Card .... Un Oil Cal ...

ad

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Md West Union .s West Air Bke . Westing El ‘ West El 1 Westvaco W & Lk

+++ +1:

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Wilse . Wilson or . ne

Yellow Tr .... 1%

‘hf ..119 ¥ an eet . 38's Young Stl Dr . 18%

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LOCAL ISSUES

Nominal Suothtions furnished by loca) unit of Nati Association of Securities Qealers.

Agents TO Co 4 co! oe gd Hosa oH... t RR & SUE Belt RR & Stk Central Pow 17% pid Qircle Theater com

1 « Rm wae ne ofd’ N Heo Loe 104% 10TH ee 8 “ora “we

Hom [nd se Tel &

5% d *Indpls Water Class A com. Lincoln Loan Co §'%:%% pid . . Lang Nat Life Ins com we N Ind Pub Serv FX e fd ...101 N Ind Pub Si pfd N Ind Pub Serv S qSoRte » L 1 So * . Pub oe Co of Ind 6% pid. ve Pub a of Ind 7% © ial

fd. . we 83

yan Camp an Camp

Algers, Wins'w W RR he «e309 American an §s § American an

4 1, | Cent Newspapers 4l4s 23 1

8 Ine Tel 4Vas He rr

ay ome T . a qols P&L 34a ndbls Water eis

| Ruhner Packing oe 3: orris & Eh orks

N fad “ut

LE od ie, Richmond water Works 8s ‘67.100 103 Trac Term Corp 8s 3 SEx-aivi faend ©

tere tan

acon WHEAT Chi

rk rain elevators paid 98c per bushel! for wheat (other Lia on Shett merits) pa per for sh new No. 2 eligw corn: No. 2 white est corn, 386: . 2 white oats, 36¢; No. 3 red oats,

*y, | has

:| condition.

Condition as Well as Size Of Inventories Causes Defense Worry.

By JOHN W. LOVE Times Special Writer WASHINGTON, Aug. 27.—That practice sweetly known as protective buying, but more often brutally called hoarding, has the industrial end of the defense organism worried

here, especially because it has no

clear remedy in mind. The Army, the Navy and manufacturers for defense orders and for purely civilian markets, especially the latter, have unconsciously cooperated to bring considerable sections of industry to the verge of shutdown. Much has been written of these excess inventories on one hand and the OPM'’s priorities on the other, but little has been said concerning a couple of rather baffling and

‘4 | ominous characteristics of the latest fix that industrial business is in.

Everybody knows how it all came about: Hearing of growing shortages, a great many manufacturers in the metal industries tried to buy ahead, even many of those with defense orders, not fully relying upon assurances that the priorities system would take care of them. Had everybody been able to buy in well-proportioned amounts the result would not have been so bad,

‘I for manufacturers could then have

gone on using up what they had. They'd have been able to produce until all the materials were gone.

Badly Overbalanced

But, to the horror of the OPM, it been discovered that the inventories in this country are badly

* |overbalanced, and the result is that

the industrial tieup, or constipation, is more widespread and serious than it was first supposed to be. All it consists of is this: One manufacturer is short of one thing and long of another, while his competitor is just the reverse. But the condition adds up to a great deal more than that. It's as if one brewer had too many bottles and no caps, and another had all the caps and no bottles.

+ | Neither knows the other is in trou-

ble, and if he did he'd fight to keep from giving up anything. Both are on the point of laying off employees and the city is about to run out of beer. The trouble is not in beer or in bottles (though there may be a lit-

.|tle of it in bottle caps)—it's scat-

tered through the metal industries, in innumerable and far more complicated ways than the little illustration above. Take a hundred

: metals or alloys and thousands of

manufacturers and the possibilities of confusion and slowdown begin to be clear. OPM Asks Data

The OPM has been collecting some information on the size ot industrial inventories and is about to bring in a great deal more—on the 65,000 questionnairies which were mailed to manufacturers a week or so ago. Now the OPMers begin to sus-

i| pect the trouble is not so much in

the size of the inventories as in thair shape. Not only are these in disproportion and unbalance but they are to a large extent in the goods in process within a plant, or in the “float” of materials through the shop. These are the reasons the figures for inventories in the factories of this country do not reflect the true They help explain why sO many concerns apparently are getting to the point of closing down when the reports coming into Washington concerning inventories,

2|so far, do not show why such a

panic should exist. Far more materials than usual have been sopped up in the indus-

+l trial process. Part of the trouble

was that new products, like armament, take more materials at the start. But instances are ‘known of manufacturers cutting up all their materials as fast they received them, in order to fix the stuff so that no Government officer could requisition it for anybody else. This, if true, would help explain why nobody has yet been able to get at the seat of the trouble, either the investigators in the field or the OPM experts here in Washington.

Defense

Quiz

(From the Treasury Department)

Q—What is “Baseball Defense Bond Day?" A—Tomorrow, Thursday, Aug. 28, organized baseball will demonstrate its united support of the Defense Savings Program. In all major and minor league parks where games are scheduled, players, umpires and spectators will join in brief appropriate patriotic exercises to focus national attention on the important part which Defense Bonds and Stamps play in National Defense. Q—Is the Government concerned over whether I buy my Defense Savings Stamps at postoffices, banks, savings and loan institutions, retail stores, or elsewhere? A—No. The Government is in-

as possible take a hand in the National Defense Program. Toward that end the Treasury is making Bonds and Stamps available for purchase in the largest number of places possible. Note—To Buy Defense Bonds and Stamps, go to the nearest postoffice, bank or savings and loan association; or write to the Treasurer of the United States, Washington, D. C, for a mail-order form.

VITAMIN CORP. MAY BUY

NEW YORK, Aug. 27 (U. P.).— Stockholders of International Vitamin Corp. are scheduled to meet on

®t! Sept. 15 to vote on an offer of

American Home Products Corp. to acquire the former's property through an exchange of stock, it

LOANS

wee The CHICAG

146 E. WASHINGTON ST.

was announced a

on 'B 2% BB BBA on Everything |

terested in having as many persons|

tem was discontinued in 1906.

WHEAT PRICES NEAR '41 PEAK

Gain More Than One Cent a Bushel Before Turning Lower at Chicago.

CHICAGO, Aug. 27 (U. P)—In one of the broadest trade witnessed in months, wheat prices on the Chicago Board of Trade today were hiked 1% cents a bushel to within fractions of the seasonal peaks before profit-taking halted the advance. At the end of the first hour wheat was 1 to 1's cents a bushel higher with September at $1.137s. Corn was up 1; to 3c; oats 3 to sc; rye up 3% to lc, and soy beans were 11: to 13%ic higher. Disinclination by the nation’s farmers to market newly harvested wheat appeared to be the principal stimulating influence. The strength

on the market at prevailing levels were added factors in the advance. Soy beans again made new tops for the season, reflecting the strength in cottonseed oil and other competitive products. The upturn carried prices nearly 2 cents above the preceding close before profittaking checked the upturn. Oats and rye borrowed firmness from the strength in wheat. All deliveries of oats established new seasonal peaks.

STOCKS IRREGULAR AFTER EARLY RISE

NEW YORK, Aug. 27 (U. P.).— afternoon dealings today after making small gains in the first two hours of trading. Volume tightened. General Motors dipped 1: point to 39% and small declines were noted in Douglas Aircraft, Du Pont, Phillips Petroleum, Southern Pacific, Standard Oil (N. J.), PepsiCola and Westinghouse Electric. American Can was up a point and Bendix up nearly a point. U. S. Steel and Bethlehem had small gains. Chrysler held a rise of 12 point at 57%. Some rails, coppers, and rubbers were firm. Utilities] were little changed on average.

sway prices and experts said traders were avoiding the list in advance of the Labor Day holiday. Volume to 1 . m, totaled 250,000 shares, against 300,000 shares in tHe corresponding ps<riod of the fy see session, Business held at high levels. Electricity output showed a rise of nearly 18 per cent over a year ago. Car loadings pointed higher and it was estimated the total for last week would be up about 10,000 cars from the previous week.

REORGANIZATION O. K.’D WASHINGTON, Aug. 27 (U. P). —The Securities & Exchange Commission today announced the granting of approval on a plan of reorganization of the Keith-Albee-

in soy beans and unlikelihood of dumping Government-owned wheatd

Stocks turned narrowly irregular in|

There was little in the news to!

Some of Chicago's “past” was uncovered by workmen constructing a station for the city’s new subway. unearthed in State St. near Madison. car had been put in an old cable v

It was part of an old cable-car, Surface line officials think the . ault to fill it up when the old sys-

BUSINESS AT GLANCE

By UNITED PRESS International Vitamin Corp. fiscal year ended June 30 net profit after Federal income and excess profits taxes $119,606 equal to 58 cents a share vs. $120,052 or 53 cents pre= vious year. Park Utah Consolidated Mines Co, six months ended June 30 net ine come after Federal incomes taxes at rate of 30 per cent, but before depletion $114,652 equal to 5 cents a share vs. $177,033 before Federal in= come taxes and depletion year ago.

Reynolds Spring Co. 9 months ended June 30 net profit after Federal income taxes $820,918 equal to

share year ago.

Silver King Coalition Mines Co. June quarter net profit after taxes $120,112 equal to 10 cents a coms=mon share vs. $101,978 or 8 cents a share year ago.

American Locomotive Co. and subsidiaries 6 months ended June 30 net profit after Federal income taxes $2,141,520 equal to $1.18 a common share vs. $1,178,470 or $3.35 a share on 7 per cent preferred year ago.

Pfeiffer Brewing Co. 6 months ended June 30 net earnings after Federal income taxes $243,227 equal to 57 cents a share vs. $263,362 or 61 cents a share year ago.

Thermoid Co. and domestic subsidiaries June quarter net profit after Federal income taxes but before excess profits taxes $230,612 equal to 43 cents a common share vs. $138,882 or 23 cents a share year ago.

Empire Power Corp. and subsidi= aries 6 months ended June 30 net profit after federal income taxes $379,597.

Raybestos-Manhattan, subsidiaries (excluding Canadian subsidiary) 6 months ended June 30 net profit after federal income taxes $1,142973 equal to $1.82 a share vs. $919,159 or $1.46 a share year ago. Monongahela West Penn Public Service Co. and subsidiaries 6 months ended June 30 net income after federal income taxes $748,319 vs. $749,616 year ago. Public Service Corp. of New Jersey and subsidiaries 12 months ended July 31 net income $22,949, « T75 equal to $2.38 a common share vs. $24,686,523 or $2.69 a share pree ceding 12 months.

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WASTE PAPER

AMERICAN PAPER

STOCK COMPANY RI-6341 320 W. Mich.

USE YOUR CREDIT at

MIOSKINS

CLOTHING COMPANY

New FALL HATS

Are Ready Same Low Price

3 A Levinson’s

Three Stores

Diamonds, Watches, Musical Instruments, Cameras, Clothing, Shotguns, Ete.

JEWELRY CO. Ine.

WHEEL CHAIRS Why buy one? Rent one at

HAAG'S ALL-NIGHT 22nd and Meridian

131 W. Washington St. Directly Opposite Indiana Theater caatuil SEE the New “EVERSHARP” \ $8 PEN I PENCIL SETS

Suarantesd ay JEWELRY CO. \ BR drag

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

DRUG STORE

$2.83 a share vs. $872,906 or $3.01 a -