Indianapolis Times, Indianapolis, Marion County, 2 December 1941 — Page 19

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ALL STREET IS CONFUSED

. December Has Usually Been I A Good Month for k Stock Prices. YT NEW YORK, Dec. 2 (U.P). —The

onth of December has been a very ood one for the stock market over

By UNITED PRESS

FINAL STOCK QUOTATIONS YESTERDAY

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pir Sdrossograph r Reduc

High Low

quoi 12h ot 108%

. 1% 351

SLL

e past 25 years, but Wall Street am A

lsentiment regarding securities prices

geldom has been as confused as it fro Bo

is today.

A A review of the years 1916 to 1940 3 tiiscloses that the stock list, as);

measured by the Dow-Jones indus-

trial average, advanced in 19 years|4

and declined only in six. In 1916

—when war appeared just around |

the\ corner—the industrial average

broke almost 16 points during De-|AZ Hi

cember. Then a series of three advances was staged, following by a moderate decline in the year 1920. From 1921 right through 1929 the industrial average advanced during the final month of the year. In

December, 1929, the average jumped | Am

around 10 points in a recovery from / a collapse which shook the founda-

/ tions of this nation’s economy. De-

‘clines marked 1930 and 1931' and were followed by a series: of advances from 1932 through 1935. In 19367 and 1937 moderate setbacks were recorded. The years 1938); through 1940 were marked by mild advances. Some Walk Street men believe

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SL fe f 2815 P A A 2413

11% 55%

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that the stock market at present is| 4m vibe F

facing an outlook somewhat similar to that in the final month of 1916. However, other analysts contend that the stock market now has discounted eventualities, even including United States entry into the war; to a much greater degree than in 1916. The latter also contend that, be-

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Anac Andes

Am Woolen 1 pt.

Zin inc pr wf.

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Arch-Dan-M Armour Ill Armour Ill rr. ALflotrong (C Artloom

cause of changed economic condi-|Asso Dr Bas

tions, it is as poor logic to expect], the stock market’s course to follow the late 1916 and early 1917 patterns as it was to anticipate that

the current war would be fought|y

on the ‘World War No. 1 style,

NEW U, S. TANK HAS CAST STEEL HULL

NEW YORK, Dec. 2: (U. BP), — The first American medium tank to be built with a cast steel hull will be delivered shortly to the U. S. Army by the American Locomotive Co., it was announced today. The tank, known as the M-3Al, will serve as a “pilot” model for

Asso Inv pf.. Atchison

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Bald Balt Balt

3arbe

Bath Boneh eld H

Beth Bigelo Black

other builders and will eventually|Eoh

supplant the M-3 now being built by various manufacturers, the announcement said. Differing only slightly from the M-3 medium unit, which has a

new model will have ag cast steel

upper huli—roughly the section|g

above the caterpillar treads. Chief advantages of the casting, the company explained, are its rounded contours, which will de- _ flect shells better than the flat sur- | faces of riveted construction; increased speed of assembly, and lessened machining requirements, thereby releasing vital machine tools for other Government work,

PENNSY TO REPAIR

100 MORE COACHES |&

den Borg

3riggs

B yron

Pdr ‘Aviation Corp.

Sng £ Ar

Barker Bros Barnsdall

ayuk Cig ... Ir Wks". ge!

Brewin

pf 3%

108% “aia +

a Ys

DrHHLI DEL HE]

—B—

Loca ct . 13% Ohio.. 3% O pf.. 6% pfd 2014 r Asphalt 11% .. Cg

N Pkg

Bendix Saviat n a

Ind Loan

est & Co . Beth Stee

a Steel 7 "pi120%6 w San & Decker 13%

21 Warner . 19% Cp Am 3

Mig 3riggs 3 Strat 31% Kiva

riveted upper and lower hull, the|gf

AM Jackson.

Callahan Zinc.. H.

PHILADELPHIA, Dec. 2 (U. P.).|Garpen «The Pennsylvania Railroad Co. e r & Gen

announced today that it will spend

ase J I pf approximately $3,500,000 for the|celanese

modernization of 100 additional g

passenger coaches. Work on air-conditioning, renovating and modernizing the cars will be done at the carrier's Altoona works, in central Pennsylvania, and will be completed in time to make the modernized cars available for use in the summer of 1942. First of 'the deliveries is scheduled for about the middle of April.

LOCAL ISSUES

Monday, Dec. 1

Nominal Sustguons furnished by local oh at

onal Association of Securities

unit of N Dealers. Ask

Stocks ents Finance Co Inc com

107% Ek Ya

11a

30 101 105 113%2 16%2 962 11%2 100

Van Camp Milk p Van Camp Milk ¢

Algers Wins'w w Pi %s.. Amelican Jan .3 American Loan fl Cent Newspaper 43 “ks 42:51... 2 Ch of 1d 4Yas 51.. Susens ind, Te She 6l....... ‘108 ,

. Muncie SWeter Works 5s 6 q Fab Foy 3%s 69

INSURANCE

, Property

msuronce poncy soho trom thet

Cen

Cen Cerro

Chain hes

Chic E

Coca

Col Col Col Col Col

P C

Som Com

CongCons Cons Cons Cons Cons Cons Cons Cont

Cutle

East East East

Coca - Cola A Col & Aik Col &

0 0 ve 0 & So 1 pf oo 1% Broadcast A 14% . Broadcast B 14 Gas pt . Gas pf A Gas pf ...

Com Credit ....

Comwlth oN Comwlth pf 5 Comwlth “Edison Eo

onl 4xuirte . Cent II 1 Lt pil.

Cent Tm Rup t f..

b gs

Cert-teed {a Cer-teed q 6 or bf pf #7 V2

P Bhic .. 37 .

Ches & Ohio pf 97% E I 1

Chic u I hic GtWR;

Clev Graph Br | Clev Gpr Brb pf103 Climax Moly Co 39% Cluett P 3

eab

- Cola .. 20%

. 1% . 49

‘ “a ictures ... 6% arbon .... 8

- 28% "i

Inv Tr . Solvents . So

-Nairn Aircraft... Cigar 3% Cig pr pf 93% £3nermin 8% Edis 133; Edison’ ‘pt 85s Film pf...

to... Crosley Corp... Crown Cork.. 78 Crown C cupfxw 33 Crown Zeller.. Crucible St.... - 38

r-Ham

Davisn Chem. . D Co...

Air Lihes Kodak Kod of.

Eaton Mtg ces

J = BOORI-T B00 Cis YN Cot

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i+]

HANOI

= DO DN) ht

BD htt

[every . ot BI Ct D9 bk bb © bk DIU pO id BS bt tb D0 OO =I 1h ED LD

ie ©

Net Close Change

_—

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—-

FHP THEE +r

L4H sl LILI L] +

+ DIE

I: ++ FH HELE]

I: ++

Ys % ¥

A | Yesterday

- &

THA

NO COMMISSION PROMPT SERVICE Also other types of real estate loans of low rates

BANKERS TRUST COMPANY

80 INDUSTRIALS ~ Yesterday <...cccccccecvees. 118.59 —0.64|

Month AZO ccocecnessccssccse Year Ago ...... session High, 1941, 133.59; Low, 118.59. High, 1940, 152.80; Low, 111.84. 20 RAILROADS Yesterday occccececececaccce Week AO c.cocesccccccccnce Month Ago 0000000000000 sae Year Ago. tesssannes High, 1941, 30.88; Low, 26.54. High, 1940, 32.67; Low, 22.14.

15 UTILITIES Week ALO c..ccccocevcccccce Month Holiday - Year Ago ......... ceasessss 2025 40.14 High, 1941, 20.65; Low, 15.52. High, 1940, 26.45; Low, 18.03.

Holiday

26.87 —0.09 28.10 —0.25 Holiday 28.00 —0.03

secceces

15.54 0.09

Net ' High Close Change Edison Bros. ve - 38

Elec Auto-L t

Low

157 243 Hi

He 1" irie ct W I irie pf A WI..

Pair Morse .... Fajardo Sug ... Fed Lt & bo

Follansbee Stl. Foll’be Stl cv pt Food Mach .. Foster Wheel .. Francisco Sug... Frank Sim

2 | Preept- Suphar. .

Gabriel A Gair Robt Gair Robt . Gamewell Co .. 1 Gar Wood Ind.. Gaylord Cont.. Gen Am Inv ,. Gen Am Tr .. Baking ... Bronze ... Cable

gar 183% Electric ... . 26% Foods .. - 3804 Gen G&E A.. 1% GCE e &v Bt. 100 Gen . 84 Gen

Gen T Glletie 8 & 5 of 11lette 2 344 Gimbel Bro Glidden 0% ov Ge

Gobel. ™ adolf Goebel Brew Goodrich

D. Gotham Hos Graham-Paige . Granby

Grand Un wcts 9Y Grand Un xcts. 9 7 Granite C stl .

Gu M &

Hall Print .... 11 Harb-Walk .... Hayes Mfg .... Hecker Prod .. Helme G W ..

Homestake Houd Her Houston Oil

[nspiration Cop 10% nsshs cts Md. Interchem ve ntercon Rub.. nterlake Ir n Aer ric i g pr Harvester .

Hyd El A 3% Marine. 13 Mining 3%

Nickel . 24) Nicks vf. 11267 Pape Ys

1 Paper ‘of. 58% Shoe 26%,

237 12012 Birk 26% t T 3 T&T Fo

Keystone Stl . 1 ] imberly Clk

—t

+111 =

+14:

L,-O . Libby McN&L' . Life Savers

Deed. . aes NESE =) nt =

1++1:

- a

[iq Carl L143 Lockheed Aire... 2%

oe Star Be 43%, Loose-W . 18a Lorillard . .... 1534 Lorillard nf . +1831 oo. 18 .. 68

Fass

Lou G&PE Lou & pos

ThE +L

= a=

+ ae

o- >

i+ +1 er

PHI HL pH >

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HELE LE + HHL

DOW-JONES STOCK AVERAGES

Week ABO «u.eccrccceccassos 116.96 —0.84) Na

130.78 —0.15|N

15.80 —0.04 |p

| Sse it <

teel up Pe

N N Y N

No A No

Pac Am Fish. Pac Coast .

Panhandle Paraffine Co . Paramt Pict .. Para Pict 1 or Para Pic 2 pf.,

Ys | Parke Davis ...

Penn D

enn Pepsi - Cola . Pere Mqt pf

Pet Corp Am Phelps Dodge Philco Corp . Phil Morris Phillips Fet Pitts Coa

Press Stl 1 p Press Stl 2 2% Procter & &.:

v Pub Serv 7 pf Pub ‘Serv § PS Pullm

Purity Bak .

Safeway Safeway 5 pf 86 Josep Lead. i 1.8 an pf. St 1 LL a Ww .. Savage Arms . Schenley Dist

jervel Inc sharon Stl .. Sharon st pt. Sharp & . Shattuck = epee

Simmons Skell Smit. Snider Pkg . Socony Vac . So Am Gold. .

ta G&E 4

Twin Cy Twin CRT pv Twin Coach. ,

Und Ell F . Union B Fo Union Carb

Cl = 85 ne 2

Ind Alc.. Leonid A

Realty. .

gaqadaacqddadacaca < c S

niv C vel t.. Gin: Gust oh.

Vanadi

Va Virginian cL

Pac pf’ Union.

Nat M & Si © 1 af Bwr si an 2

1% No Amer. 5% pf 521, mn Avn .. 14%

Pacific 5% Norinwest Airl's 13% Norwich Pharm,

Owens "1 Glass a

Pan Am _Airw's. 17a

nney TY Penn Coal & Co 2%

Pere ifat pr pf 26% .e 281

pf . 88 8 BIG ot . 114%

..107 .. 10%

3Va | 20% I'& St 10%

Cor T..

pf . td G&E 6 pf. 13%; G&E 7 pf. hie

Ho 7 Hofman pt 39

Pipe & Play Card 1 300

has un

/ High Close Oh

HH LE HL]

a ass sae 8

+11]: 0 i FES

% 3

168%, 42%, - —P— + 30% 6%

. .

15% 11143, 147, 26%

DIE Ht aE EEE

+1 1+:

132

RNC gs

. . -—

! 5

Poors Stl Car .. ve . 38%

3% ‘11075 ois 87 1145 213, 10%

107-107 10%

D1 LEE HEL Rv

CI) =x

++ ++ es

201 10% —— 4375 109 28%

Yi 2Ve

28%

. 16% Schenley Dist pf 89'2 8 £2 6 7a

ears Roebuck .

Sheaf Pen .... Shell Un Oil..

RVR 2 NERS

+ o

Di Ta

| DL ®

THEI NONI LOD FAERIE JR oe L+

~§

SRS

a a

= 0083 J 00 a 3H cot - dr 50 J (XN J. Faash # WEEGEETRSER FR

BOM aor Wed ni 1 0 BD = Gi Qs 30) OOHWRHD GI HB OH 1G | SHEA UID IN GILI 008) = «fe og . . Dl EEE HE

-_ Saas

. [Pa HE FOFESEER NSS Roa

«8 Ya

758 4Y, 30% 1 3 19 2 20% 11904 23% 1 in i ‘

HH HLH]

—Ve—

Vadsco Sales .. 5-16 um «es» Van Raalte .... 24

33%

Auto Sup. 3811 M P. : 44

ve 91

¥, | keting Service reported.

y, | Today's top was $10.10 for good to

« |announced today. Payment will be

? | Guaranty Trust, % | Bank of New York, J. P. Morgan &

a ue 15 GENTS

Top Slumps to $1010 Here; 12,000 Hogs Arrive At Stockyards.

Prices declined 15 cents here. today for hogs weighing more than 160 pounds, the Agriculture Mar-

Prices on pigs were unchanged.

choice 190 to 200-pounders. Re-

ceipts included 2100 salable cattle, 600 salves, 12,000 hogs and 1500

HOGS

cessresiaiee.$ ssececcovscns

. 1d fk pt PoLOESSSon foboionesy amoows

se0s00s0ssene

cseadesesvens

33885

®vsccsssncens

edium— 160- 220 poUNAS ¢..cccicesensl - Packing Sows

ses0scscsssns s900e00sssece

60- 400 pounds D- 450 pounds Misti. pounds

: =

= 500 pounds ...ceqieeccce Slaughter Pigs Medium to Good— 980- 120 pounds ceseenans CATTLE Slaughter Cattle & Vealers (Receipts, 1519) Steers

8.75@ 9.35

Cholice— . 750- 900 pound 900-1100 pound 1100-1300 pound 1300-1500 pound

Shy bax:

750-1100 Joins 1300-1300 unds

ir 1100 pounds sseceess Steers, Heifers

Caos 50 pounds. cessssssceses [email protected]

0d— 500- 750 pounds ®escvsccnesne [email protected] Heifers

ssscscscsssce [email protected] eveccesscsse [email protected] [email protected] 7.00@ 8.50

1. #8! 8.28 4.50 8.75@ 9.00 8.25@ 8.75

soe

Chol 7502 50 900 pounds 750- 500 pounds Aedium. S08. - 900 ) pounds secssocnosse

em 500 t pounds ....cces00000 Cows

Sodium rr itincraeans Ere wad Common ....ceee0e

5.50

(Yearlings excluded)

Beef— : S000 0000s eveetOso ee Sausage— Goo

/ se0sssvesssacnnse

Yearlin We thers Good and ohe ice 2 Ne 9.00

7.50 35 4.25

5.0 3.00

7.50 : % 6:50 7.50

Ewes (sh Good and choice ..... orn) ore Common and medium ,

CR nid Goninon eels Vealers

Good and choice ...... ceseene 3 [email protected] Common and medium ........ 83061150 CUll 4. cvrnevessrssvuoes esse. 6.00@ 8.00 Feeder and Stocker Cattle (Receipts, 663) Steers

[email protected] eesscssssese [email protected]

[email protected] [email protected]

8.50@ 9.50 7.0C@ 8.50

Cholice— 500- 800 pounds 800-1050 pounds

ood— 500- 800 pounds Shans -1050 pounds 1586-1550” )_pounds

mmo Goo 900 pounds

sscee0oencse ®vccsssscnce

Cal Good and oho ye ves (steers) 500 pounds down Mediu

[email protected] [email protected]

eseesaane .

Calves (heifers) ood and choice— na ounds down cress [email protected] 500 pounds down ., 8.00@ 9.50 SHEEP AND LAMBS

(Receipts, 1282)

Good and choic Lambs 1 @ ce iernnnn bovis Medium, and good | . $i: 2

8TH NEW YORK BANK VOTES BONUS PLAN

NEW YORK, Dec. 2 (U. P), — Directors of the Manufacturers Trus} Co. have approved payment to emplyyees of a cost-of-living bonus for the quarter which began Oct, 1, payable either in U. 8. defense bonds or cash at the employees’ option, Harvey D. Gibson, president,

‘made Dec. 29. Similar employee bonuses already have been announced by Chase National Bank, National City Bank, First National

Co., Inc, the Irving Trust Co. and Marine Midland Trust Co.

LOCAL PRODUCE

Monday, Dec. 1 Hea breea colored hens, 5 over, au {eatnered, 15; heav, Wy b d bs. feathere oe" yh ngers, Bored , 15¢: £olored springers, lbs. and over, Mic:

pos springers, lbs. and over, 13c. A 7 5

grades, 3 cents less.) Cocks Eggs—Current ES as 54 'bs. and up,

Oc. Graded E; se A Jarge. Bie; Grade ade A 25¢;

3c. Butter—No. 1. 36%2@37¢c; No. 2 SY.e 35¢; butterfat, No. 1, 34c¢c; No. 2,

ibs. and

" Net Low Close Change 434

5% 20% 26

19% 59%

High Wiis Overld pf 43% & Co 534 Woodward Iron 2074 Woolworth .... 26%a Worthington Wrigley

sees oe

17% 14 119% Ta 11%

Young S Young Sheet. Young Stl Dr.. Cin

— 10s 10 2% 2%

2 11%

gen Rad.... Zon ves

Indianapolis

Bank Clearings cressesercercessee $25,119,000 $22,338,000 Bank Debits cessssecesccssces esses 307,534,000 $59,410,000

Postoffice Receipts eeccacennscecene Building Permits cccoocevceecocsvne HOUSES ....cc00000000000000000¢ Apartments c..eccccccececcccccs Business ...cco0000000000000000s Industrial .cocoeccescccsssossccs Public soccccooscnsvcscssescance Repairs & Alterations ¢cceeceee Applied for Jobs ...cccess00c00s0ce Received JobS ..weccvoccecccscnccses Claimed Unemployment Compensation (Nov. 22) cccecoae. Electricity Output (kwh) .c.ceece..

Water Pumpage (gallons) .........261,660,000 254,540,000

Streetcar Passengers (Nov. 22) «e.ee Telephones In Use (Nov. 27) «cecceee Livestock Receipts (head) ccccecces Cattle ccceocesscescscscccscnses Calves Cereb eb eae SE sue h ae HOES cococssocosccssesssssscsaane Sheep .cccocecccccccessoscsssoe Grain Receipts (bushels) ccccooveee [01] 4 | Wheat e0c00c00ce000000000000000 Oats 0000000000000 0000000000 0000

Soybeans ®0c00csess00coece 2 cece

Sources of above figures: Indianapolis Clearing House Association, Indianapolis Postoffice, City Building Commissionej Indianapolis Office of State Employment Security Division, Pennsylvania Railroad, New York Central, Baltimore & Ohi Illinois Central, Chicago, Indianapolis and Louisville (Monon); New York, Chicago & St. Louis (Nickel Plate); Indianapol Water Co., Indianapolis Railways, Indiana Bell Telephone Co., Agriculture Marketing Service, Indianapolis Board of Trad} Center Township Trustee, Federal Reserve Bank of Chicago, Indianapolis Power & Light Co.

‘Business Week Last Week Before A Year Ago $21,293,000 $53,661,000 $104,771 $157,210 $51,600 0

Week

$95,039 $138,066 $106,400 0 $12,800 $16,500 0 $2,366 1,024 650

$101,830 $184,340 $98,200 0 $14,000 $12,500 $50,000 $9,640 1,246 601

$6,500 $90,000 $5,000 $4,110 809 412

1,927 - 15,460,000

. 1,750 13,687,000 215,040,000 1,224,593 +154 106,148 7,064 2,878 80,146 16,060 460,000 378,000 8,000 40,000 0 34,000

1,874 14,243,000

1,357,661 +203 91,344 8,403 3,249 65,838 13,854 821,000 636,000 41,000 60,000 0 84,000

1,483,631 +76 58,478 4,271 1,842 46,635 5,724 846,000 629,000 20,000 62,000 6,000 129,000

$2,375,783,000 $2,

Summy

1940 Thus Far : $960,742,000 $1,162,854,000 ,362,000 ,405,625 1,156,935 $6,772,945 $2,837,125 $1,521,562 $1,408,715 $2,350,650 $1,314,300 $178,526 | $684,000 $712,739 $1,010,955 37683 | 52102 17,707 26,407

$4,204,246 $9,786,614 $4,274,745 $1,915,780

145,047 570,190,000 11,276,730,000 60,803,106 99,330 2,975,213 296,071 142,021 2,296,768 324,153 24,114,000 14,788,000 3,644,000 4,030,000 443,000 990,000

70,100,000 12,519,850,000 | 64,594,302 110,042 2,772,518 248,876 137,801 2,040,667 | 308,604 31,920,000 21,501,000 4,209,000 5,018,000 247,000 1,070,000

JOB PLACEMENT HAS INCREASE

But Mor eAre Applying for Work Than Did Here Last Year.

Betweenn 600 and 700 persons are obtaining jobs in the Indianapolis area each week, according to the local Employment Security Division office. The office has placed 26.407 in

jobs so far this year, which is a 40 per cent increase over the 17,707 who had obtained work by this time last year. But the number applying for work continues to remain above last year’s number. More than 52,000 have applied this year compared 5 | With 37,683 at this time last year. Some of this may be due to “priorities unemployment” or to work stoppages due .to strikes. A good portion of it may be attributed to efforts of the employment division to get persons with defense skills -to register for defense jobs. The number of persons receiving unemployment compensation at present is around 1900. So far this year unemployment compensation claims have totaled 82,815 in the Indianapolis area, a 43 per cent decline from the 145,047 at this time last year.

AUTO TIRE SUPPLY AT 20-YEAR LOW

NEW YORK, Dec. 2 (U. P). Stocks of automobile tires and tubes held by ‘American "manufacturers dropped to a new 20-year low at the end of October, representing only about three to four weeks’ supply at the present rate of demand, according to the Rubber Manufacturers Association. On Oct, 31, the association said, domestic tire producers had 4,122,836 casings on hand compared with 5,154,081 at the end of September and 9,409,683 at the end of October, 1940. Inner tube inventories as cf Oct. 31 were 4,447,558 units against 5,430,556 on Sept. 30 and 7,647,912 on Oct. 31, 1940. The tire inventories were equivalent to about 21 days’ supply and the inner tube stocks to about 26 days.

U.S. HOLDS 2 BILLION IN EARMARKED GOLD

WASHINGTON, Dec. 2 (U. PJ), —The Department of Commerce reported today that foreign gold held under earmark at the Federal Reserve banks reached $2,099,069,231 during the week ended Nov, 19, an increase of $35,354,817. Gold imports. totalled $5,803,972 during the week; silver imports, $1,117,032, Canada was the leading 2|gold importer with a total of $2,301,379 while Mexico's gold imports amounted to $2,049,575.

(" AT YOUR SERVICE "RIGHT FROM YOUR DOOR!

Just phone RAILWAY EXPRESS of Western Union. Your out-of-town packages, any shape or size, will be called for and delivered, at no extra charge, within our regular vehicle limits in all cities and principal towns, Low rates. Big economy.

ct)

SAXOPHONE ¢ff ». Instruction Lesson

INDIANA MUSIC €0. 115 E. Ohio St. Ll 6088

OUTFITTERS to Men, Women and Children

Livingston

“W MODERN CREDIT =

W. Wash.

neater

Wash. "Soporte Us

GUARANTEED

AT OUR USUAL Apt PRICES ITE 43 S. 14 —TO 7 OAT

MOST ALL FABRICS AND RAEN TO CHOOSE yaoy

TAKE U5 32 WEEKS T°, LEON TAILORING CO. 235 Mass. Ave. i. Giees

Champion Steer Had Been a Cull

CHICAGO, Dec. 2 (U. P)—A select group of steers—chosen after an entire “day of judging—was brought into the arena at the 42d International Livestock Exposition today to compete for the highest award of the show, the grand championship. In the swine arena, the championship class was brought before the judges for the final selection, the grand champion barrow of the exposition. Last of :the major awards in the grain show will be the crowns for the corn king and prince. Western Cattlemen expected T. O. Again, the Hereford entry of T. Richard Lacy, 15-year-old Kansas, Ill, farmer and 4-H Club member, to place high in the steer competition, perhaps taking the grand championship. T. O. Again already wears one purple ribbon for the grand championship in the junior feeding contest. Lacy’s steer was a calf he raised from a lot purchased by his father from the T. O. Ranch at Aaton, N. M. The brand of the T. O. Ranch has become famous in the last two years through the numerous winnings of calves bred there. Cattlemen speak jokingly of three types of Herefords, regular Herefords, Polled Herefords and T. O. Herefords. Their old type of cattle—shortlegged, squattily built animals that in many respects resemble Aber-deen-Angus — are descendants of Colorado Domino 68, known also as Old Wyoming. T. O. Again was a cull from a carload exhibited at the Denver show. Lacy’s father saw possibilities in the calf and brought him home for his son who raised the steer as a 4-H project. It was young Lacy’s __| first entry at the International.

DAILY PRICE INDEX

NEW YORK, Dec. 2 (U. P.).— Dun & Bradstreet’s daily weighted price index of 30 basic commodities, compiled for United Press (1930- 32 average equals 100): Yesterday o.....ceeeeceeees.. 144.81 Week AZO ...vcvvveonsosess.. 143.62 Month AgO0 ......\ esses... Holiday Year Ago covesnsenes 124.07 1941 High (Sept. 9) ceveeve... 147.91 1941 Low (Feb. 17) ......... 123.003

OPM EXPECTS STEE QUTPUT TO DECLI

WASHINGTON, Dec. 2 (U.P), Steel production in 1942 is expec to drop 1,000,000 tons from the 1 level as a result of the current rious iron and steel scrap shortal OPM officials said today. Although plans for expand] production of pig iron as a subs tute are already underway, | amount of scrap available is fall so rapidly that development of n facilities cannot gll the immedi need, it was said. Production of steel in 1941 is es mated at 84,000 tons, according the OPM materials division, wi estimated 1942 output is 83,000,0 If the expansion program is succe ful, the 1943 figure may#geach f{ 99,000,000 tons needed for the ¢ fense program. The current overall shortage from 15 to 20 per cent would 1 quire production. of 6,500,000 uke of pig iron to reach desired dei needs, officials said. The scrap ‘shortage is attrib ‘by OPM to a reduction of au

‘| bile manufacture and similar

defense industries, Fewer autos be turned in as scrap and the su of scrap will rapidly diminish? cause of the difficulty of repla steel or iron products.

Incorporations

Crown Realty Corp., Winchester; me into Crown Laundry and Dr Cleaning Indianapolis; 2195 shares cls common and 2258 shares class B com without par value,

Capitol Wine & Liquor Co. Ine. glanapolits SFeEisiratioh of trade m ‘“Briardal Grand Springs. “old tucky Os * “Arbor King” and “C Cl Tab » “class 48: Wines an liquors.

Bethlehem Coaly, Inc., Beech Grove; solution.

The Church Federation of Indianap Indianapolis; reprgihized under 1935 for profit Act The Church Federsd of Indianapolis, i The Bainbridge Telephone Co., Bainbridge; Cloverdale Telephone Co., Cloverdale; ‘Thomas Telephone Roachdale, merged inte Roachdale phone Co., Inc. oachdale, to be he after designated Ingiana Midland phone Corp.,”” 500 shares common 4 par. value. Transcontinental & Western Air, Delaware corporation; admitted to diana to engage in transportation of sons, property and ma Decatur County oy operative Greensburg; amendment changing nam

Association, Inc. and dividing Seon stock into 600 shares preferred of $25 value. and 13,000 shares common of $5 i value

day) at 6:15, i

LANNY ROSS

Tune in tonight and every night (Monday through Fri-

mmediately

following "Amos 'n' Andy" for Lanny Ross and his quar-ter-hour of songs.

Decatur County Farm Buresy Co-operatf