Indianapolis Times, Indianapolis, Marion County, 24 October 1941 — Page 30

War Prosperity Is Increasing Dividends on Common Stocks

By ROGER SUDROW=———

ALL THE COMMON STOCKS listed on the New York Stock Exchange paid enough dividends last year to bring

a yield or “interest rate”. of 5.

- according to an official compilation by the Exchange. War prosperity will boost the rate even higher’ this| “ws was year. But no one, of course, would think of buying some| °

7 per cent on your investment,

Amn

1932 1933 1934 935 1936 B37 B38 HOD B40. 04 Lack of the usual September expansion and an actual shrinkage of volume in some lines of business

STEEL MILL AT

GARY TO EXPAND

Carnegie - Illinois Spending $15,000,000 to Boost Production.

CHICAGO, Oct. 2¢ (U, P.).— Carnegie-Illinois Steel Corp has announced the start of a $15,000,000 defense expansion program to provide increased steel and -iron making facilities at its Gary, Ind., plant.

Carnegie-Tllinois, major operating] -

| Praises Agents

STOCKS ADVANCE, BUT GAINS ARE CU

NEW YORK, Oct. 24 (U. #)5= Stocks aavanced fractivns to woke than 3 points today aml! thvn ele countered profit-taking. Gains wege reduced but a majority snowed vances as trading entered fourth hour. . Steels were strong at. ns o point ang more. The industr 12:30 Jotay poured the ingot wh sent the year’s output above Ee

|full year 1940 total, which was

all-time record. The Am Iron & Steel Institute estimated that 1941 production would Fe around 82,000,000 net tons, compargd with 66,981,662 net tons in 1940. ss. Chrysler slipped back to the pif

of /all the stocks listed. And that is 8 Where the ordinary | caused the index of Indiana business conditions, compiled by Indiana University's Bureau of Business Re- subsidiary of the U.S, Steel Corp,

investor runs into trouble. For instance, utility companies, in

search, to drop five points last month.

will meet the entire cost of the plant additions, although the work is part of the steel industry expansion program recéntly recom-

{vious "close on profit-taking and

General Motors halved a’ gain of

* |nearly a point.

Several utility issues and some rails slipped back to small nét

some instances, have reduced their dividends. In the last three months, 10 of the 47 utilities whose stocks

are listed on the 3 Big Board, have reduced their divi- I F 1 0 GENTS] dends. Only six

Weights Under 210 Pounds fg

Hg Corp ... b-16 pf $30 ww 1%

havent enjovea| Are Unchanged Here; |an ius su © ain much prosperity Top Is $10.60.

for years, are now choked | "| Heavier hogs sold 10 cents lower Al : at the Indianapolis Stockyards to-|am a Roger Budrow day than prices paid yesterday but{4 cent over last year| weights under 210 pounds were While aviation shares have paid 74|gnoyt unchanged, the Agriculture|s per cent more in dividends than last a a year. Steel dividends rose | Marketing Service reported, 60 per cent and # shares are| Today's top was $10.60 for good |4 paying more nowadays. to choice 190 10 200: pouitidels. Veal- Am Enc Tj e cha of automobijlejers were steady with a $14.50 top. 7 DE 28 factories to defense production has|Receipts included 648 cattle, 373|A% & 55 41 bf 28% brought no halt se far in dividends calves, 7949 hogs and 1983 sheep. Haw S8 ... 38 on automobile 00. oo which re juried $175 gompared with i 03,000 in first months of last year. n - poun LAE AXEL EAE] 160- 18

NEW YORK STOCKS

By UNITED PRESS mo Last cit, | DOW-JONES STOCK AVERAGES

: 0.09 y tessssacessesecacs 31038 0.68 Ys | Month Ago . Secasinasenssnsse i) 4.5 Dp Year Ago -=§.20 | NYC \ Omnib al High (1941), 133.59; Low, Fir ig High ane), 152.80; Low, 111.84. 20 RAILROADS A Yesterday 28.59" Week Ago essessess 2091 Month AZO ...ivoocicseecns 28.66 Year Ago ; 28.57 High (1941), 30.88; Low, 26.54. High (1940), 382.67; Low, 22.14. 15 UTILITIES

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“de Th biarete INDIANA'S PASTURES are worth from 30 to 35 million dol- seen. ; ; lars a year, acco to Purdue, oun 8 Resseeses . i 30 Am based on the amount of feed ob- 1330- 360 DOUNGS ‘+s resreeseis 16,10610.90 Am Sines ih Hvestash. About 3 160-200 POUNDS +rsresserrnns [email protected] | Am including woods pastures. : Good and Chel ying Som Am x Purdue points out that pas- 270- 300 pon, Ts st aurty 10,10 Am tures should be considered as a 380: 300. BOURE +assesres Ligh " 1 competitive crop for uge of In- |Goo sorvrieies of Am Tob ‘diana farm land, nob only In ro. | Go 0 2OUMS convene Lis 3.63 | Am-vicose tating crops but in helping main- | 450- 500 poun ge 11am, ARE 3.00 Am Water W... ‘3%

Woolen ... 6% ts in fo ty and preventing soll 250- 509 pounds Peesdunegrnae sa 9.40 Iv Zino i, EH

Zinc 81 Anacon 8 a Medi aughier Pigs Armour Dei pf.111 "0 a edium and Good Armour JH 80- 120 pounds ......is:ss. 0.60@ 9.60 Armour I pr pf gis

SOME: LARGE EASTERN, cities oattis [4 already have been surveyed to find __. | Atchison air-conditioned bulldings - where|*sushier Cattle & Vealers (Receipts, 648) | 210030 large numbers of persons can be - Sum At crowded safely in case of air raids,| ; [email protected] | At according to D. A. Newton, en-|jigo- yrestesss Sr At 6 4 4

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mended by the Office of Production E. Kirk McKinney losses. Oils held gains eT Management as a defense measure, . nearly a point. Special issues, company said, on construction of : 1 dies stocks, Celanese preferred a new open Reatth furnace: rebuild. Jefferson National Life In- Square D were up 1 to 2 points, = ing and enlargement of a blas : : i - surance Co. Holds | soaking pit capacity, rebuilding of a a WHE AT PRICE AT battery of coke ovens and provision Annual Meeting. ; | of additional ore loading facilities The new open hearth funate wi the Jefferson National Life InsurA enlarge. [ance Co. met today at the Indian-| CHICAGO, Oct. 26 (U. Poe if|ment of the blast furnace will in-|apolis Athletic Club for their an-| Wheat futures rose to the best level crease that unit's output of pig iron|nual sales meeting. in two weeks on the Chicago Board Seventeen rows of soaking pit 3 cents a bushel. furnaces at the. Gary works will be| presided at the meeting and praised) The gpturn encountered opposi= replaced to increase their capacity|the field agents for their efforts in|tion in the form of profit-taking and annually, and the 70 ovens in- the d a firm tone. x No. 6 by-product coke oven battery|Worth of business during the year." wheat el % to 1% cents will be rebuilt to provide an annual] BE. Kirk McKinney, company oe with December 8k 2 9 L ” S iy i Plants ore unloading ShPACL ges representatives ave the pub-| be’ Gui pre. po 10 Dl 4500 gross tons a year. Jie relations department of our|@ia; and SpyBsans were up % to I ee ————— WE HI] ‘Imen in the field. In our business, ST AST STEEL every sale is made on faith in you eS 85 STATEMENT : ; rs : and our company which stands ost. uP) —Gova PLANT IS APPROVED back of you.” oo A is, a 6, 2 2, coffe » = “Right now,” Mr. McKinney said, |" 4. 0 sekipheiuen TLE a announced today that he ka Work Bai 1918006, i807 1iosdsart eral Defense Plant Corp. finance a 2quigged to gel] to sell the the tuture of this Gold Tes. 22,786,082,912. 2% 21 1426,919, 1588 $36,000,000 new steel plant near San any other due We must not INDIANAP OLIS CLEARING HOUSE . prod 500,000 tons of steel . plates atid 40/00 tons of siee! cast-| LOCAL ISSUES . |DAILY PRICE INDEX new plant will be operated Senda? uong futbished by local NEW YORK, Oct. 24 (U. PIE ;

Work will begin immediately, the . 2.8 cluding Atlantic Gulf & West Iff= = 1} 1furnace, installation of greater at the Gary works. About 70 field representatives of BEST IN 2 WEEKS o from 250,000 to 500,000 tons a year. E. E. Ballard, agency director, of Trade today on gains ranging to . from 2,000,000 to 2,500,000 net tons taking applications for $8,000,000 was erased. | capacity of 360,000 net tons of coke.| resident, told the agents that the fLisuoy, Corn was up 1% company. We are as strong as our %o, Dec. $1.50% @%. WASHINGTON, Oct. 24 (U, P.)~|“the life insurance agent is playing Bepeaeet x) {Hii 649.36 @ 0. as faa iin mally recommended that the Fed: |life men Pub §3,032,298,275 j| Praneiseo. It would be capable of fail.” SABER. tesrerisyis.:s cin Ae by the Columbia Steel Co. a sub-|Beaier of spturfie Dun & Bradstreet's daily weigh

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of the U. S. Steel Corp., So Bid Ask|price index of 30 basic commodities and will be located at Pittsburg, = FRR i ig 9 |compiled for United Press (1930-32 Cal. [hy average equals 100) Federal Loan Administrator Jesse Yesterday ..... cocoons cerees 14288 Jones announced earlier this week | C Week AZO ...oiconsnbssscesss 140.30 that the Dre will finance new blast | & Months 4 ABO ¢ovinssnsnecsrsan 125 Suenos | furnish pig iron for|I casetsssessraseese the plant. The furnaces will be lo- 110 ne [1041 High (Sept. 9) waviennn. 14791 z’ cated at Provo, Utah. 1941 Low (Feb. in snsassvans 1284 ok: oF f. 4 Mr. Knudsen estimated that housyanies Bf |. ;ii. |ing construction will be needed rip wi FOOD PRICES yi ¥% for approximately 3000 employees|Indpl ho 14% of the new Pittsburg plant and that| I 3 Gi BS out 8101.0) ~Applef: the plant will take from 18 months|N 1 a Yin, hi Lh "spinach to two years to build.

Sf FF IEEE ES

_ gineer, of the Carrier Corp. air- 1hio pOcRaS ivoceiis LIGLAGD) Atlas Carp. 0 gonditioning firm, Me wants New oo po une esssanienns 310001200 vighion “Cory. I poun SEE City to make such a survey. : i048 Bail 35 Bald Logo ct. 14%

pounds ...eecevees Balt & % Suis «3% ® 8 » . Balt O pI: 6

ODDS AND ENDS: OPM’s new|,l Ht pounds ...eessses ss 11.00 Biter

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6 pounds .ceoeveevencee : B & A pf 28 restrictions on use of copper won't Common 133 if Sa 12 hurt auto makers much becausé Rounds © radiators,” where most copper is|chosce~ used, weren't included in the ban.|good- | But if ornamental trims are banned | 500- 760 pounds Ge expected) much copper, used 45 base, will be cut out, . . . Insur-|Chgieer, Bfies on ship cargoes bound from | Good— 8. to the Near and Far East have ns 900° pounds .....eeesov. 8:[email protected]! U Gas .. ; Hud 8 A been raised 25 to 100 per cent be-| 500- 500 POUNAS +u.,.0reenes 8.80@1L ~ 9 i ANG Oe rs . cause of Japanese war talk, and|Cgmmen- ==. ‘ na ” 48 ' 0 La li ici war risk insurance to Greenland tH itnteins 1000 800 Yam central .... 8 was bcosted from % to % per cent|. Cows 19% of cargo value as result of wave of | Meg Md ard e9 ves T 26% ~ American sinkings in ‘Atlantic. . . . Qutter and Wedivm veveasess 6. ' There were nine business failures + QGtisganyed; in Indiana in September to the tune of $141,000 liabilities; 122 have| gee . failed so far this year, against 144| Good +». 8.75@ 9.40 | Camp last year at this time . . , $19,000,-| “Good ..... SRI B ‘000 worth of defense stamps have| Medium ~ 7.15@ 8.75 Carpenter st. been sold, Treasury announced,

7.00@ 7.75 Carriers “ ha © ‘with September best month so far|. .. ... . Vealers 1 10@1430 Sa $4,978,000). Purdue says 85 per Common “an and medium vient. 1800 aii | ca Selivess pr <F ev

scent of unemployed who took its|Cu cinivdur 85 50@ ‘courses in powder and explosives classes at Indianapolis, Lafayette) got Jobs in munitions plants, mak- Choice— Steers Getrain id 8 pf 28% ing from $1620 to $3500 and aver-| 500- 800 pounds 81 S0@11. a pt. 107 aging $1900 a year. 200-1050 Pounds «.vveuess. 10: A 48| Sh Chea C ¢ Cor 500- ivensiviae Ches Sui of » fo pomar ......... amaua|ch § oo oi Hy ediy Ry.. 2%

LOCAL PRODUCE 4300-1000 nOUNAS cicecsesnece. 8.76@ 9.75

8 Ibs. and|Com heavy breed 500- 900 125@ 8.78 on Ohi BR I&P 1-1 has Calves (steers) Chi R I&P : Df 3-16 Gond and choice—- Co ng-| 500 pounds down 10.75@12:50 : colored Medium— ] Clark Eq 3 orn| 500 pounds down [email protected] | Cleve Graph Br 8

! over. s NO. Calves (heifers) Climax Moly Co 2 ibs, nd’ over, -10c: God ‘and chloe ’ Soea-Cols 4 + ni88 go Gurren receipts. 84 lbs. and up. hp Sunda down ...v..eaese 10,00911.50 | Co of Bro adcast A Al ord A as -. an s—-Grade A Jorge. 34¢; rade 8500 pounds down [email protected]

2c; Grade A small, 31 SHEEP AND LAMBS

TN —No. 1, 36@36%¢; No. 3 Jha \ ako, No, ° He: 0. 3, 31¢ (Receipts, 1983)

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