Indianapolis Times, Indianapolis, Marion County, 4 September 1941 — Page 27
/
{
/
£
BUSINESS
Several Hundred Silk Workers Who Lost Their Jobs Here Have Found Other Work
THE FIRST MAJOR DEFENSE CASUALTY i in Indianapolis industry has been solved, to some extent, without at-
tracting very much attention:
from the. general public.
Several hundred workers in the three. silk mills here lost their jobs because of President. Roosevelt's order ban-
‘Those wino lost their jobs were mostly women employed in the “throwing” of silk, which is the jerm given | to preparing raw: gilk ; for pro into garments. ' The layeofls did not come all
at once but were}.
spread over several weeks, “which helped the situation. In-
dianapolis silk|
mills were not caught ° totally unprepared for Da , the site | stoppage and had Reger Budrow some supplies
on hand. Rayon, cotton and nylon
‘ had been used by the local mills
before the silk crisis. But in using these materials the throwing process is eliminated ang so are the throwers’ jobs. A number of the women got work at Stokely-Van Camp's canning fas4 tory, which ‘was in full swing. Others found work at RCA and at Kingaiys. Some of them decided . ‘not’ to work for a while, now that théir “husbands are making good _money. Some, but not many, haven't ‘found work yet. Real Silk hired about 50 more
workers . for its department vhat
2s 3
¥
7
makes undergarments, but - these yere power machine operators, not POWers; “The, mills are still making silk stockiams using the silk they had cz: hand, with cotton tops. pnd “igeet, znd making .stdekings of ation. and rayon alse. Lisle, a fine+grads cotton, comes kere from “Bugland, which has beén geiting . the good raw cotfon Egypt grows. Because of the war, it still jis difficult to get lisle in sufficient quantities. Defense officials in Washington are working . Sn
. meuns to ‘speed Peoddetion of
aN
nylon and rayon. "an FRANK' E. McKINNEY, who is president of thy Fidelity’ Trust Co. here, has been offered the chair- |
manship of the Securities and Ex-|
change Commission, the Washing ton agency which polices the “Wall
Streets” of the nation. But there
gre several thnigs standing in the way of his accepting the job. ° The SEC has a rule that its chairman must divest himself of private investments and Mr.. McKinney is ‘reluctant to step clear out of his “banking connections here. Attorney General Francis: Biddle has been asked to give an bpinion on whether - or not this will ‘be necessary. Edward Eicher. of Iowa is now SEC chairman, but he wants a Federal judgeship and is expected to get one this fall, leaving the SEC post open for Mr: McKinney, if he “wants it. Mn McKinney's sponsor
“for the job is reported to be Com-|gGood
merce Secretary Jesse Jones, the former Houston banker who, through his various New Deal lending posts, has become probably the
~ most powerful financial Bgure in Good
© the world now.
LOCAL ISSUES
Nomina! quotations furnished by local Bi tof Na tonal i A ot securities a 5 Stocks a 1%
R k Central Ind Pow 1% pid’ Circle Theater . ow Loan 2% pfd....
Bone Th 0 COMisecosonse d ass el Co
14% ame jo oid. {nd & Mish Elec 1% Sodois com. ae
]) pd. CA 14%
; e Ins d Fup’ i Sia d Pub Se: Ind
4.8% p Terre Saue Ziee Rs ‘pid... Union Title CO COM cocovcncne n Camp Milk DId.cee.eseees 61° an Camp Miik com ....ee000 11
Wins'w W RR 4%s ...100 Loan 58 Sl..cv.ce00.
Wor! is . 5s 51 Yeaneasn
EVES 5 EXAMI, GLASSES FITTED
W. S. GIVEN 4¢
ss
NEW TYPE GLASSES. GIVE
Ҥ Provide for free unobst: ii 1 - style, ass shgrav nob S trusted 3 vis! fa: fo asses
groun Bs tion. ‘are sold by others ee several t times our
Our la h ps ich and. © hain of ¢ optical sho! Drice and saving
: A 10-DAY TRIAL!
ERE gelyiny 1-day gl ine
iaton of Lor ta
faa
80 h
lasses, co
LARGEST OPTICIANS IN AMERICA
all. over our. low you possible. “why pay
n you ever
: ning imports, including silk, from Japan,
PRICES ON HOGS ARE UNCHANGED
Top Holds at $11.85 Here; 10,000 Porkers at - Stockyards.
HOG PRICE RANGE : Top Aug. 27 cicecisnnnnncsss. $12.00 ABE. 28 i.ccocesnccscecsss 12.10 Aug. 29 cecisrsssscsnnsees 12.00 Aug. 30 etsesssssesnssesss J1L.85 Sept. 2 ccocecocscssccasess 11.86 Sept. 3 0evccevgsrsenessense 11.90 Sept. 4 coccennsserniesaces 1138
Receints : awe
8,500 1,600 10,000 | 6,500 10,000
Hog prices were the same today at the 'Indianapelis stockyards as they were yesterday, the practical top remaining at $11.85, the Agriculture’ Marketing Service reported.
Sows were weak. Steers and heifers generally were ‘steady while beef cows were strong to a shade higher. Canners and cutters were little changed and bulls barely steady. * Calves were Steady to weak, Spring lambs sold mostly 50 ‘to 75
tet sheep were steady.
> HOGS BY od je. Shoice—
= 1 cessscasase 1%: 160 sri 169- 180 pounds J30- 200
~
Fd ed et st ed dk ped eb nt fected fd put het £5) C19 sBsshasazsy DINOS
sess ecssesese
es
ecsccedocsené
segtese cs
Je eh hh hh i fd pe Joh rh pk hd Fob ed ps he i
9
4 ++ 10.701 10.
Packing Sows Good and Choice— 270- 300 pounds ... 300- 330 pounds 330- 360 pounds
00d— 360- 400 pounds . 400- 450 pounds .
. 10.20
sspesane ssssgane
9.350 9.75 ,9:00910.00
> 500 essesnnnapies 25u~ 500 pounds Slaughter Pigs Medium and G¥od— 90- 120 pounds ve CATTLE
Slaughter Cattle & Vealers (Receipts, 700). Steers ao 900 900 pounds -s12.00 1 . es0sssens 900-1100 pounds .. 1100-1300 pounds ... 1300-1500 pounds 750- 900 pounds sassassbavese 900-1100 pounds .. 15001308 mn Med
ium. 750 1100 POUNAdS .cie0secscace 1100-1300 pounds .c.ccccoo000n
poiifids Ee Steers. Heifers Cholce— : 500- 750 POUNAS .ececccevanns Good— 500- 750 pounds
Choice 750- 900 pounds ..
12.75 13. ®
1 igi 35 11.00@1200
[email protected] [email protected]
[email protected] [email protected] [email protected]
sesesgptoes
500- 900 POUNdS «.isescionnte Common--500. 900 pounds ....... Cows
0400000000000 0000000
Bulls (Yearlings excluded) Beef—
sd Besbeceveseseesossenane ina 3% Medium Modinm and common. Vealers
Good and choice Common and medium ..
.
Feeder and Stecker Cattle (Receipts, 500) Steers *
*a¥vesesvavss “sens
[email protected] [email protected]
9.00@ 9.50 1.50@ 9.00
Chal 800 pounds 800-1050 pounds [I "800 pounds
200-1950 pounds Medium—
sessscessenes ese ossvvsesse
Good and cho! 500 Sounds down ..
500 bounds down Calves (heifers)
Good and clioice— §00 pounds down «+s [email protected] 0.50210.50
500 Pounds down ... SHEEP, LAMBS - (Receipts, 1500)
(spring, Good and chores » ) Medium and g 3
Common
Ewes (i Good and Shiofce Tavavaeine . Common n_ and med
JU. S. STATEMENT
ASHINGTON, Sept. 4 (U. P.).—GovBL expenses i receipts for the current fiscal Year through vo 2, compared with ,a ga
ve» 11.00013.00 [email protected]
ee esses
stesseves
12.50 0. 8.50 ok, 4256
13.00 10.35 5.00 4.35
Year
852, 519,2 64. 424,775,008. ... 2,387,466,158. b Bal. . 2,808,946,424.98 ork. Bal. 2/056,160,168.77 Pub, Debt. '50,932,896,913.87 Gold Res. .22,718.692,343.95 20,918, 398,784.08 Customs .. 73,455,463.93 50,121
SARIANAPOLIS CLEARING House
Sa 33. 8 358 Sug a2 3.48
the Chicago market volis- flour mills and Sram elevators paid $1 per bushel for No. red ‘grades on their HB and paid’ 88¢ per .bushet for shelled new No. 2 yellow corn; No. 2 white shelled corn. 3; No . 2 white ‘oats, 39¢; No. 2 red oa oats, 2!
FREE VISION
r near or far. Latest
rer aan, tach Es low price. EASY PAYMENTS Pay as you ear. Ahem. Just 3 afew A gents Yeo | Forkers _— .3,000,000 SATISFIED ~ CUSTOMERS "124 W. Washington St. Thur, & Sat. Eves to 9 P.
NEW LOW PRICE
at our’
cents higher in active trade. Slaugh-
sgssipesaas 2
[email protected] | .... [email protected]| Amal Le .. [email protected] 10.50 4 [email protected] | 4 [email protected]
chk :
Atl G & WI... 31%. 8.250 9.25 AUG & W 1 ph: Hy 8
0% s Yea 9031 00a 353 1.580 310 30. 17 Gar,
2 480, sii 1661. » en 43,903,331, ‘216.01 | Celotex pf
By JOHN W. LOVE Times Special Writer
charge of the office which will affect
cans than ahy ‘other ever ‘did, Donald Marr Nelson emerges’ here as the man who is also in the best position to unify the armament program on its industrial side.
new Supply Priorities and Allocations Board, he is its executive director, will sit in all ifs sessions, and
w ce. use Mr. Nelson has acquired
a broader grasp of the vast detail
any of its specialized members, it is expected the board will defer to his judgment on most matters. ° In his first press conference Mr. Nelson: alluded indirectly to his and
admitting that because “there just isn’t enough” material in this coun= try to go around, some business concerns will necessarily be closed.
ones: close. avoided, however; any intimation as
of activity in this country. said they would go into that later. _ The new board, abbreviated as SPAB, virtually has charge of the American Wehrwirtschaft, the war economy. It gathers into a single agency the allocation of materials both for armament and for essential’ civilian purposes. - + Or as a consistory, it must resolve in its meetings all arguments between the leading claimants upon American supplies, including defense ald to Britain and
recent times.
to being ' the
Donald Nelson I: . WASHINGTON, Sept. 4—In daily
‘the life ana: work of more Amer- -
Though he is not a member of the
‘will preside in the absence of its _ Shaisuan, Vice: President’ Henry a,
of military and civilian supply than
the board’s vast responsibilities in
Theirs will be the say as to which He .and Mr. Wallace carefully
to what dre the less essential lines | They
the last the new head of the pur-
These men, making up the new Supplies Priority and Allocation Board, will soon announce a plan for conserving scarce defense materials, will make a national inventory of materials and will run nation-
‘wide pickup campaigns in metals, comparable to the aluminum.
Shown ‘at their first meeting are
(seated, left to right) Harry Hopkins, lend-lease administrator; William S. Knudsen, OPM chief; Vice
- President Henry Wallace, SPAB chairman; Donald N elson, James Forrestal, Undersecretary of Navy attending for Secretary Knox; Robert Patterson, Undersecretary
the board’s
executive director. Standing:
of War attending for Seoretary | Simson; Leon Henderson, price control administrator; Sidney Hillman, OPM associate director.
finished w.
ar S. Knudsen, head of the OPM and a
though member of the hoard.
other countries, instead of leavinglagency or civilian ministry of sup-|Mr. Nelson as head of the priorities | yond—the functions of a ministry of them to open conflicts like those of |ply which many have been calling division, as well as that of William |[Supply, for it will snuff out such for. - The purchasing of Because it controls the allocation|hardware will still be in charge o of Sveryiung. it comes the closest|the military departments, : ings [procurement subject again to the. authority of| The new board, indeed, goes be-
luxury lines of merchandise as interfere with the “realistic” arma- | ment effort. It may be noticed in- ‘passing that
hee Scotchmen, or rather, men of Scottish descent, now oversee the| buying of America’s ‘military sup“plies and the apportionment of ooh materials are left for the rest of us. ‘The three are Messrs. Wallace and ‘Nelson and Douglas MacKeechie,
chasing division in“the OPM. ° The ordinarily drab calling of the ‘purchasing agent, one of the least antic of all business activities, is now all but supreme in the AmerJean economy. Mr, Nelson came ‘here from the Sears, Roebuck Co. .and Mr: Mackeechie from the Great “Atlanue & Pacific Tea Co. Mr. Nelson's first job in his’ new postion. as head of the priorities division of OPM will be to dig it out of the drafts into which it has fall‘en. Edward R. Stettinius Jr., who has just been transferred to the Lease-Lend agency under Harry Hopkins, got snowed under by applications for civilian priorities, and Congressmen have been complain‘ing, as have manufacturers, that they could get no answers. A crew of expert mail-order sorters from Chicago is said to be going to work there. Mr. Nelson is undertaking his new work with the same smoothness of manner with which he has man.aged to endear New Dealers to him and satisfy business men for the last 18 months. His is the role of the negotiator rather than the harmonizer. “If only Nelson and Leon Henderson (the Price Administrator) could somehow be combined in the same man!” one close ‘observer explains.
fists we'd have -the man to take charge of the whole program.” Now that the fierce lights begin to beat upon Mr. Nelson it is suspected that if he does not become the Bernard Baruch of this era it
will be because of his overdoing the|)
gift which is so priceless in WashCs that of making no enemies.
Net High Low Last Change
Abbott Lab .... 56% .
Hide Been of.. . ri
ELITE
opt . 93% Yeon Fdy. 12% ‘Mach & Mt az / N Xs » 34)
7
Ih
HLH]:
Am: Al Am
Am Am Am Am Am Am ne Anacol 287s Aha’ Wicabic: 341; am Visco ose ... 26% rm ATONE m 87 34
r'pf Aruisirong 2 ooo
Atl ‘Refining '.
“se . Pu
FLETHRE ED Let Le
—C «22 6 167 4%
3 Ya
8% 68 18%s 2% 112 Va 3Ya 13 i i 37%
t Cent Ill Lt "at; nile t. RR NJ .
Cent Viol Bug. 1034 Cerro de Pasco
5 Ya Pap of. 105% 105
I & Ohio" C38 i 38% 3 plo: pt. 100% 10074 in 1% 1%;
~ ++: ie
Baa nO g8geas
MA 37 5% 5 pf. a2 ‘914 Preu T ©. 177% 17% Ss 258 581% : 1 Tos 10% 104
4014 81% 15
iE LE + 4
Colgate-P Pn ah Col & go. 30's a. Broadest A 15% 13% Col Gas DEA . 20% Col Carbon a 801, Com . Credit , .. gu | Com Inv Tr .
Boa ee
ow tt
SEI E LE 3
.
a was
TIE L+
kb .
DOW-JONES STOCK AVERAGES|
30 INDUSTRIALS
Yesterday siccooscsvnscovie. 127.01
Week AZO cicoovcccssssocen
Month Ago Year Ago ..
12 teseeseeseneiness 128.00
High, (1941), 133.59; Low, 115.30. High (1940), 152.80; Low, 111.84.
Yesterday ....... Week ARO ccccoconcscsssvssss
Year AO ic.iciveiccsancssnn
20 RAILROADS sessssdscses 30.20 30.22 ssessesssceee 30.18 20.29
High (1941), 30.88; Low, 26.54. High (1940), 32.6%; Low, 22.14.
J w
Yesterday Sener ares esas Week Ago ..
Month Ago Year Ago
15 UTILITIES cvees 18.79 . 18.68
seesemenssnnsres
sseessssnsnc ens
High (1041), 20.65; Low, 16.82. High (1940), 26.45; Low, 18.03.
—0.40 +0.69 —0.01
-+1.94
NE Ww YORK STOCK MARKET 0 UOTATIONS
~ By UNITED PRESS
xz
; High Il Cent LL ... 40% Indian Ref .... 8Y Indpls P&L . d Rayon .... Inland tl 81 yiration Cop il%s hep erchem ea 22% Interlake Ir. In gric Int Int Hyd Int Marine. . Int Mining .... Int Nickel ..... Int Hicks} alone
Int P&P P&P pf .
Net Last Change 40 }
Int | 68% in RC Am pt. 41 t T&T 2Ya
97 Island or Coal. 322 321;
x —d Jewel Tea ee 335 37 Johns-Man % %
. 69 Jones & Lgh’ «242 24%
’ 6 Cons R Lie pf 3%
Cons Coal
Cutler Ham
Davega Sirs, . Davison
oe * 27% vee 19
el)
oh
19
+ + +++: [4:1 Jit { H+] +]
KIC oe ty a Fat WS
—-
=a
ni ’ =
Lian Airc . Dow KeChe
ag Doehler be) Cast 18% e Mines. ... 38.
Du ...156%; Du Pont of ,. 11125%
. East Air Lines : 20 ; n Mfg .
Erie Ww Erie ct wi. Erie ol. a wi
Fair, Th ® pf. Pair Motse . Rajan sug . Tan %ed Min & 8... 23
t Perro Enamel » ve 13% en 4% Mrst N Strs Follansbee Sti . Noster RE
5% . 18 a
Fran . Pr Stl Sus, Pred Fruehauf Tr vee 233
Ham Ww Waich- pt: 07, Haves itz Sl Hertel er 1 0 Holland Fura .. Houd-Her B ... Houston Oil ... i ‘Howe Sound ... 34 Hud Bay M&S. na
Hudson. Motor. . Hupp. Motor. ... 1
5% 34%, 5634 403s 21% 23% 4 12
—l—.
x g ETE
HI Central ..... BSR all
TELE
. . .
Blt: 1
3
SS
—f— Kalamazoo ser 8 8 Kan C Sou ... 5% Kelsey-Hayes A 13 Kelsey ayes 3 ecott ahs Keystone sti .. 34 ’ Kinne 2%
Kress as . 28
Laclede. G e G P Cem 2413 VCoal ... 1% V Coal pt. Ma al RR. 5% 23% ;
OF on pH L 5% Ligg & My .. 30%
Lifts 225 we
weal Bn Locknd yo . 1B
15 40
pf...
wo
lard G&E A
Lon Lori Lou iv Lou & Nash .. 67%
8 Pac Oast 1 pf 20% 3 Poe Tin Cons..
Net Last Change
9% + Ya|Pure
149, — 4% 66 cree
Mullins pf .... Murray ....... 8%
peo Nash- Rely 43 Nat Acm 19%, Nat A Fibres 5% Nat A Avlayon .« 10% Nat Bisoult 17 Nat Bis
A - odd pt pb San
nd he =
Nass mp3
Nat Sup Penn. Nat Sup 2 pf.. Nat Tea
Baers =
16 3% a2 1
Ya - 32% 24Y, 205 12% 15% Ya 11% mg
Ya 33s . 28Y, 205
No Amn Avn .. 15% No Pacific
8% 20% 5Ya
72 15% 48%
BY
See i Owens mn Glass. 40 ~Pe 2058 5 4 3%
Pac G & El . oh 4 Pac West Oil . Packard 3 Pan Am Airways 17: Panhandle 15 Paramt Pict . L165
2% 18% 1% 15%
n RR peoples Gas as Pere Mqt pi’
Phil Morris of. 109 Phillips Jns-.. Phillips Pet . tat Phoenix H . 47 3flisbur;
G . ter re G ot 117% b Se:
rv > Serv 7 Bf. 11048 b Sety 6 S 91. 0
4| Revere Co
'y, |Reyn Met cu cv ng
‘1, | Rustless I&St.. 2 | Rutland pf ....
| St Jos
ott Sears Rothuc 3 Sharon Stl pt : ois
Le
High Low 93% 11%
«Seses
« 9% Fes Baic even 11%
Radio gn Radio pf ...... Rayonier pt’ en Reading eve 1 Hepublic Sti ... Repub Stl pf..
a 9 Revere 5% pf.. . 78 eyn Met ‘14
Reya Tob B...
Richfield Oil. .
31
PELE EEE 4
bi
Safeway ...... 4434 Safeway § pf ..111 os Lead.... 343% St L S Fran pf. Savage Arms .. 19% Schenley Dist . 163% Schenley Dist pf 2» )
«3844 4
4413
Shatuok Shell Un Oil .. Skelly Oil .... Smith A O- .... Socon-Vac .
pf Sou Na 5 rts 1-16 Sperry Corp .. 37% Spiegel I 3 Square D
Net oa Last Change eB Tank
A Victor Chem ...
2 | waldorf 8ys. .
STOCKS OF § NEW YORK, Sept. 4 (U. Stocks made an .irregular .d today with volume small. Le issues were down fractions to point while special issues contin to meet selective demand. Sugar issues ' were strong, tably Cuban American issues. the latter the convertible prefe; rose 2% points to 87%. The per cent preferred made a high at 116 up a point. Cent Violeta Sugar made a new and Francisco Sugar equaled. § high. Guantanamo sugar. ferred made a new top ay 3, »
WHEAT ADVANGES | HIGHER PRICE T
CHICAGO, Sept. 4 (U. PJ. Further buying, apparently encoure aged by official predictions of highe er prices boosted ‘wheat futures cent a bushel to new seasonal peaks on the Chicago Board of ‘Trade day. FT the end of the first hour, wheat was % to 1 cent a bushel higher with September at $1.15%, Corn was up % to lc, oats % to 7%ec.
High ‘Std Oil Ind ... 32% 3td Oil N J ... 42% td Oil Oho ° oo 41) § d .... 62%
, “With the Nelson patience and|Sun grasp and detail and the Henderson gy
Fox 8 Corp ea ap ‘41% ex
{8 ok
Garips
4 iB SH ny 8 8
wigs
#
[imkFransamerics ri-Con dens Truax he ra
20th . Cent-Fox. Twin CRT of.
Cama ENos
8 ow =
Union B 3% Ps
Snir Carb -.. n Oil Cal.
pet SEES =3
83 ON -
SE
tas
258 gun
Crs Det ot rs 03
roRveBand
A a FON
ses NR
SESIJR FRESE
1
24% 25 13% 6 25% 22
tees 9-18 reve 24% 5 . 13% . 26%
25% a V Wen
ya-Care 6 pf.. Va I C&O Bt
9% Walker," H~- G&W AH
tH
- -
A. Ward Bak pf. Warner Bros ..
Pa A.. 991 9012 W Pa El 7'pf.. 110894 103%
Wise
: H1H+d
PERPETUATE YOUR LIFE'S WORK
By having your attorney daw up a will with the stipulation that this bank be authorized to act as exe ecutor or trustee under i's terms, In this way you will be certain that
Member Federal Deposit
7
CT
The keynote of today is work. And hitre. you find. work, you find a welcome for ice-cold Coca-Cola. In offices, factories and pause that refreshes with ice-cold Coca-Cola is a litle minute thats lon enough fora big rest.....con rib ibuti
your estate will be properly admin« istered; that the interests of your heirs will be thoroughly safeguards ed and your life’s work perpetuated
Trust Service Since 1893
“THE UNION TRUST COMPANY
Capital - and Surplus $3,000,000.00
Insurance Corporation
120 E. Market Street
Pa (IY
CSE Tt