Indianapolis Times, Indianapolis, Marion County, 4 March 1942 — Page 11

Most Hogs Up 20 Cents Here; $13.50 Top Is Four-Year High

A sen edvames tn Joe; tig Ga 900 pounds ersten prices a e anapolis stock-| Medium - . 300. we ds settee yards today boosted the top to|com i $13.50, the highest in four years, s06-" 800 pounds ....... the Agriculture Marketing Service i reported. Weights over 160 pounds made the’ 20-cent advance while lighter weights rose 10 cents. Receipts included ‘1423 cattle, 533 calves, 6659 hogs and 228 sheep.

NEW YORK STOCKS _

By UNITED PRESS

DOW-JONES STOCK AVERAGES "30 INDUSTRIALS Yesterday «....coveveescencs 106.97

Week ALO .cccocesesssosvens 105.64 setae 110.80 120.30

FULL RATIONING

Opposes Morgenthau Plan, Wants to Do It Step- . At a Time:

‘WASHINGTON, March 4 (U. P). —Office of price administration officials balked today at treasury proposals for complete rationing of consumers’ goods and said, that Price Administratqr Leon Henderson would oppose any whirlwind introduction of such a plan.

Treasury Secretary Morgenthau Jr. suggested such action before the house ways and means committee yesterday as a step to curb the

i: HE

[email protected] [email protected] 1.15@ 9.98

War Production Officials is Herel th or Ch ered by Elimination of Bids) Alek ‘in

CRs

tHE

~ High 1942), 114.22; Low, 105.10. verge High (1941), 133.59; Low, 106.34. 20 RAILROADS

cesses rans stennse

‘By ROGER BUDROW ~ “ OFFICIALS IN CHARGE OF WAR PRODUCTION [am HERE are enthusiastic about Donald Nelson’s order (issued last night) ending competitive bidding for war contracts.[Am Cbicle Contracts henceforth will be negotiated across the conference table between the manufacturer and the armed|in

COMPETITIVE

2748 27.58

Yesterday

Bulls (all weights) (Yearlings excluded)

++:

Month AO .cccevenceacsseces Year Ago High (1942), 29.01; Low, 26.66. High (1941), 30.88; Low, 24.25. 15 UTILITIES Yesterday ...ccoeccccccicnes Week AZO .ivvvevscssgescans Month AZO ...oovcecccesscce 14.27 Year Ago ...co.oos 19.22 High (1942), 14.94; Low, 13.45. High (1941), 20.65; Low, 13.51.

4 24 21 21

Swift £00 creas

'[email protected]

ssescsensstacennne

+ I++ a oh

18.57 13.5%.

Ean

CALVES (533) Vealers (all weights)

Good and choice Common and medium Cull

Feeder & Stocker Cattle & Calves Steers

wonnnReHe

eee 000000 10.25 11, siasasanees SRG

HOGS (6659)

(Barrows and Gilts) Good to Choice— Ji ou

[+++] +1

Sesnsense

. ‘Many firms in this area have lost much time going through the red tape of competitive bidding. They have to obtain bid bonds, figure out their bids, submit them and wait several weeks to

Li+h

160 180 200 220 240 270 0- 300 Dp

330- 360

Cimik-D Ax

Net FRE 4 Ar

Last Change

ice 5 500 pounds . 800° 1050 pounds

Good— 500- 800 pounds 800-1050 pounds

nnannnnnre

et » =~

12% +

Dishing 9996999008

D2.

a AT

see who gets the contracts. There have been disappointments no end. A small firm can’t hope to turn in a lower bid on a large order than

To Speed Production, Nelson Orders.

a large firm with the advantages of Roger Budrow , production, Thus niany of the small factorie hereabouts have been left out in tne told because they couldn't mak war goods as cheaply as the large firms. This led to the charge that the big corporations were getting all the war work. But Mr. Nelson’s ‘order makes prices secondary ina importance now. Speed is the thing, » t 4 2 ON THE SPOT: There are mor than 1000 small towns in Indiamg (actually 1213) that' have no rails roads running through them and must depend on busses and autos mapiles, according to the National Automobile Dealers association. 8". 8 nN ; LATEST COUNT shows that the government has taken over | 225,000 acres of Indiana farm-| land to build powder plants, sheli/ _ depots, army camps, etc. That's roughly equivalent to cutting out a strip three miles wide right through the middle of the state, from the Illinois border to the Ohio border. Much of this was sub-marginal ‘Jand with delinquent taxes but much of it was highly-produc-tive land, too. So far 1170 far families have been forced move. l » ” » { ODDS AND ENDS: Grummah Aircraft in Los Angeles is moving manufacturing operations into ggrages forced out of business by tire and auto rationing. . . . Stock trading in Pebruary was the smallest (for. that month) since 1815. . .|. Steel mills are scheduled to t out 1,651,100 net tons of ingots thi week, a new record. . . . Hood Rubber Co. expects rubber footwear he rationed next fall and winter. «+ . . To increase pig iron output, teel mills are washing and cleang coal to remove harmful sulph d ash before “cooking” the ore. . The 6 per cent increase freight ratés and heavier erie trafic are expected to boost railroad income $300,000, ‘this year. . . . Berghoff Brewing Corp. of Ft. Wayne had $310,000 net profit last year against $321,000 in

to and semi-standard articles.

WASHINGTON, March 4 (U. P)). —Production Chief Donald M. Nel-

|I'son, making price a secondary factor in war contracts, today moved to}

obtain more rapid delivery of war goods by ordering that all military supply contracts be placed by ne-

petitive bidding.

The directive, which came within |B 24 hours of his radio speech asking an immediate increase in production, also requires the use of smaller plants in the manufacture of standard and semi-standard arti-

cles, puts “primary emphasis” upon B

spedd of delivery instead of price, 4nd dictates letting of contracts to

concerns “which need the smallest| gl

quantities of new ma ery and

| equipment.”

Mr. Nelson said the revision of procurement policies would “result in speedier. and more efficient war procurement and in maximum utilization of the productive capacity of the nation.” “The placing of contracts will be immensely speeded,” he said, “and we shall be able to bring into war production many factories which have not hitherto been used.” Mr. Nelson’s directive—his second since becoming war . production board chajrman—requires army and navy procurement officers.to negotiate contracts, except where War Purchase Director Douglas Mac-

ding. Hitherto, they had been permitted by presidential order to use either method. The WPB’s announcement said that the change would bring hitherto shutout small business into war production and would leave larger firms free for more - difficult tasks than the manufacture of standard It is also expected to aid in preventing large firms from building up backlogs of orders that must wait to be

cerns. Mr. Nelson said that by emphasiz-

ing speed instead of price “quicker :

deliveries can be had at comparatively minor increase in cot.” Such a policy is in line with his oft-pro-claimed opinion that a ship or a plane in 1942 is worth 10 ships or

1940,

rowings. Increass

heighten this si

individual may di

accounts . and inventories occasioned by war orders may ion for a business; while an

planes two or three years later.

NN WN

N N NN

AAA

ver that the increase in his

- tax is substantially larger than he contemplated.

Lending facilities of American National can

serve the purpose; | of direct Federal 2

be utilized —

temporary borrowings will oreover, the upward trend es offers one more reason

for having an established relationship with a

commercial bank like American National.

You are cord

ially invited to discuss your

immediate requirements with one of our officers.

AMERICAN NAL BANK

ianapol

AND MARKET

~ MATIg

- “"

PENNSYLVANIA

)

STREETS

BIDDING ENDED: =

Negotiate War Confracts|an zinc."

gotiation rather than through com-|:

filled by unhderbidding smaller con- 2

Hayes Mig ....

‘Anaconda ies Armour Ill Armour ‘111 Armstrong Asso Dry Gd A350 Inv pf

iS chison Line ers 95 i S & WI i 36% Refinin

tae Co i . 89

Bald Loco ct . Balt & Ohio ..

a D. Barber Asphait Barnsdall Ba th Ir. Wk Bayuk Ci Beatrice ! sndix Avn

EB PE “sn oe a

SN Dt

Sea

Or DIDIIQORI IE CDI na 0 BENS ARR Ia Oh Sten ps ~® "

SN RRESER

Beth Steel 'Blaw-Knox

. . . BICOORI EHD b= LID bt put

CUI TINO

Bor owarner .e Boston & M

a W Burlington M.. Burroughs

Cal Packin Callahan Calumet & He Canada Dry . Celanese 2 Sas e JI

Celanese Cel Celotex

Cent Ill Lt pf. 951% Cent Viol Sug.. 16

&4v . 340 192

y I&F 10% eve El Ilm pf.109% eve Graph Br 25% limax Moly Co. 40%2 uett Peab ... 33% Coca-Cola Colgate-P-P . ... 12% £3 Fuel 5 Iron 16

QaQaQQaaQann

Colum Gas Col Gas pf abi Col Pictures vee 3% Col Carbon .... 70 Com Credit ... 18% Com Inv 24% 87%

Tov. Com Solvents .. Comwlith & Co . 9-32 Comwlith&So pf 38% Comwith Ed .. 20% Cong- 15% Cons 8 Cons Cons Copperm Cons Edison .. 12% Cons Ed pf .... 86 Cons Laundries

Cons Cons Coal pf . Container .

Crane Co cv pf rown Zeller . Crown Zell pt Crucible oy Am

'. 251 ushman 7 Bx 81%,

Davison Chem. . 10% Rec Inc. 17 & vise 38

Du Pont pf’ cia Duques L gts ve. 114

East Air Lines. 22% .eo 287

wu wi . Erie ot A wi.. 30% Rureka vas sos 3 ans Prod ... Ex-cell-0 ...... 23%

Gabriel A

= Glidde;

rahamPaige ran f

creer gz - g o

t North pf ve 28 West Sug . oe 26% HL... 2

(nlalnlnlnlnlnlnlaln] ter

Harb-Walk .... 15% 1%

ecker Prod

Hou Her A = Houd Her 8: eB Ynioer 13% on ote .e.11-18

BER Bi sane 4

EE Jones & Lgh.

0 S&F

oul.

De— 4 Ya

24% 36%2 6

1 5 wad FR

ODO 00 N Lt

SRE a

——

ob OY OMNI DNILWODIN

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saies re 26%

fo 1 :

eb tat?

DDD bt LOB bet pt R= ODI DION

BI DIO CODD 100 BI LI OW 0000 =3

0 1] ES eae, a

«100 TV =I

CIC Rb ORNLWE IRR

- wglie

“0 FERRERS

SESE Li+: 1111

8 Babuann © SRT eBARESnTy

ua Ron88.30 SESS

en FOE F

11+: ;

Raa

1 =

3a 20% 2 12 6313 30% 10% 21Y, 40% 402 32 13%

Ses FESS

jouth Lone Star fom. Long Be Bell A . Lorillard ..

31 20%,

ack acy Ale

Pr. (ee R H....

M v G.. I Mkt S Ry pr pf Marshall ° 03% Martin {cilenn) 22 2 V Iry. M V M M

arti in Parr 1 pf .. 169 CGIOrY ivaves JES cGraw El 15% cKsn ® Rob 127, cKn & » 108 cLellan BR. 6Ys 5

< 24 . 24 26%

20%, 10%

. yo a. sR FFE F >

> —- > Sree Sr

A VA V Mesta Mach...

idland

w 2 FIRSRRTINRE

HE HHH]

Mission Corp. . Mo-K Tex Mo-K Tex pf.. CP:

oha wk

Lona w ..

2 12% onsante of 8 1134 Ww

- IN OO

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oh BIDIDD bb J put

VLE ELE: pore Cd

FEFRENRRINS

8 oe

Nash- Rev Nat Acm Nat Auto. Fig a} Nat S cuit =...

FE oer

tid H+] In

bet Hr DOs bpd pt © a.

BOO 0’ oo nS IS

7 No Aer 6 pt . ¥s|No Amn Avn % | No Pacific “ty, Nowest- Alines 8

Ya 15 | Ohio Oil TY 1, | Oliver Farm Eq 203 ; Be Omnibus Omnibus pt. Otis El it Otis Steel s | Owens Ti Glass 4

OT Opi OE Die 33

2 1

-1

7 Pac Am Fish . i, | Pac G&EIl

Pepsi-Cola .... Pere Margueite 27 Pet Corp 253 Phelns odes .

29% Phila 6 pf . 37%

65 5% 66%

MAN ececeee

Radio

roid Bliatiess I1&8tl. Safeway BRIE 1 wy 5 PE 138% Savage Tee ih 67 E 84

Schenley Dist . ars Roebuc vel Inc Sharon se Bt Sharp &

Ss Silver King ... Simmons .. Socony-Vacuum’ So Cal Ed 17 1745 321, 29%

ai LOCAL ISSUES

Dealers. Stocks

Finance Co. Ze a

fients B ance Co In

e T. vn 1 A Ind Assoc. Tor a % Bed.. v oid

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SEESpEEESE ® gr 2a REEEsEe 8 3 B E HN 2 v44 Ee g

Algers 'w W RR 4%s.... Amerloan Loun 8 Je 51 %

30 Lean ame Newsoa)

Ch 51 Col

i++ 000)

Cond Tol oc

o .'. oe . ee

5 > 5s ung

under 4 ed

white ‘Kook

+11 .

SE CFE EE ee aE ee

19¢;: Leghorn hens, 14c. Roasters, 4 Ibs. and o White Rock, Sasa 18

grades. 3 cents less. SE —. } 23%¢.

C+

Peto 36% @37c; Be Sil 2 SEE

1+1 i

SHIFIFLIELLLD

High z % —'1%

I+

11+]

SLE ELF +H je 8)

LI+l 1:

SE SER sane

aH HLL .“. . . :

—--

(RARERN ER EAE

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PEELE VE od 42;

1:4:

PH++ H+]

++:

*| early

[+++ [++

Und Ell Fish B Carl

LE pf 3

ft ae. 2

Al 10 3 Si ches, 1 i arr Fast. . - bh

nion n n

LHI THE +

CER

c+ IE

eli;

Wiker HG&Wp Walworth

DRAINS RalSaEs E

orthington... rigley

2612 19% 50%

— ~ =

12% H, 10%

—tB— Ya 2%

Yellow Tr ..... 13% Yelow T pf.. Young Sheet . en Young Stl Dr..

cobs Seo

Zenith Ra d.. 9% Zon 2

po ae

STOCK PRIGES DROP | IN LIGHT TRADING

NEW YORK, March 4 (U. P)—| =

Stocks made an irregular decline

and steadied around the lows in the afternoon trading with volume light. Losses ranged to more than 2 points in American Telephone which rose by that amount yesterday. Steels were down nearly a point in the leaders and losses ranging to more than a point were noted in du Pont, International Harvester and several special issues. A block of 20,000 shares of Com-

¥s| monwealth & Southern sold at the

year’s low of 25 cents a share. Utilities generally were slightly lower. Aircrafts had fractional losses. The

2 rails eased after Atchison had made

a new high for the year. Motors were off small amounts. Exceptions to the decline were noted here and there. Building

# shares were strong with John-Man-

FFEREF FERRITES

SESES

Nominal quotations furnished by local unit of National Association of Securities

Ja. ax

LOCAL PRODUCE Isc: Lohorn. Heavy breed colored hens, full feathered. Ee "ATH"

ead Tike. and up,

Grade A mi rae A aa small, 8s

2 Ee

ville up a point at a new high for the year of 62%, Allied Chemical

» | rose more than a point and Union

Carbide held a fraction of a rise of more than a point made early in the session. Sugar shares were steady.

INTERURBAN TRACK WILL BE SCRAPPED

The last remaining link in Indiana’s once-extensive interurban system will be sold for junk shortly. Removal of the rails of the In-dianapolis-Seymour interurban line follows approval by the Securities and Exchange commission of Publit Service Co.s plan to issue $1,520,000 of 4,per cent serial notes to the Indianapolis, Columbus and Southern Traction Co., lessor of the 58-mile line. ;

GRAIN FUTURES HOLD STEADY AT CHICAGO

CHICAGO, March 4 (U.P)~— Grain futures ruled steady in early dealings today on the Board of Trade. At the end of the first hour wheat was unchanged to up % cent a bushel; corn was up % to %; oats up % to %; rye unchanged to off % and soybeans unchanged to off %.

U. S. STATEMENT

WASHINGTON, March 4 (U. P.).—Government Sxpelises and receipts for . the current fiscal year shirough M March 2, compared with a year

is $16,959,065, 813. 43 sa § 648.430. 67 pend. 12,644, 161,204.48 "2 948,205,642.47 . 5,556,791,017.9 3.821280.976.01 «.11,3217,9173,246.49 3 551,269,494.06 3, 968 1,677,356,147.22 "39%. 090 03

INDIANAPOLIS CLEARING HOUSE BB ciecescesccrcscssases $ 4,407,000

Debits ......ceoevivsesensesnssss 10,087,000

DAILY PRICE INDEX

NEW YORK, March ¢ (U.P).— Dun & Bradstreet’s daily weighted price index of 30 basic commodities, compiled by United Press (1930-32 average equals 100) : Yesterday sovessecssccsvnsee 155.29 Week ago sesessesssennensnnd 154.68 Month 880 eoeacssosvecessse 154.57 YOar B80 ..cvevcasserscneces 124.20 1942 high (Jan. 26) sesescneas 155.89 the/ 1042 low (Jan, Di ereseseiess 151 ee ————

Su Fy a FESSEEE BF Ow

during the morning dealings today :

threat of “dangerous inflation.” He believes rationing is- an important partner of heavier taxes to take up the slack of higher incomes. Mr. Henderson's associates said they were perfectly willing to push rationing beyond present levels of passenger automobiles, tires and

| sugar—but only when necessary.

Not Used in Britain

Mr. Henderson said he was willing to explain his views to the com-

2 mittee if it wants to hear them. He

has repeatedly warned of inflationary dangers from the “shortage” of consumer goods as contrasted with the amount of consumer goods available this year. The mounting

3, | war effort is skimming off many

production facilities formerly used to maintain America’s high standard of living. OPA officials pointed out that complete rationing of consumer

goods would be even more drastic | S99

than the system in Great Britain, new in its third year of war.

Medium — 160- 200 v Packing Sows Good and Shoice300 pounds e.eeeee Pounds pounds

seve sesssssscees

pounds pounds pounds

Medium-— 250- 500

ssesssnerese

pounds Slaughter Pigs

Medium and Good— 90- 120 pounds

CATTLE (1423) Slaughter Cattle & Calves

et CRS 00 poun 900-1100 pound 1100-1300 pound 1300-1500 pound Good750-. 900 pound 900-1100 pound 1100-1300 pound 1300-1600 pound Medium— 750-1100 pounds .. 1100-1300 pounds Common — 750-1100 pounds Steers. Heifers & Mixed’

«so [email protected]

oe 500- 750 pounds eee. [email protected] Heifers

Shaw NOD on 1-1

5993 ©9398

tpt et Ra50% 5 sab ih RICHER BI bOLH

POS - OO

Ld oh eh fh fh Sabidb) SOGOL¢ Daa ond

0. 10. 3 13: %

8. 319, 25

Choice— 500- 750 pounds

Choice—

Meédium— 5

Medium 500-1000 pounds

Common— 500- 900 pounds Calves (Steers)

Good and Choice— 500 pounds down

9.00910.25 8.00@ 9.25

[email protected]

500 pounds down [email protected] Calves (heifers)

Good and Choice— 500 pounds down

[email protected] Medium-—-500 pounds down [email protected] SHEEP AND LAMBS (228) Lambs . $11. ith igh wees [email protected] 9.00@10. Yearlings Wethers Good’ and choice Medium

Good and choice Medium and good . Common

Good and choice Common and medium

STOCK SEAT AT $18,000

NEW YORK, March 4 (U. P)= The New York Stock Exchange to= day_ announced sale of a member= ship at $18,000, off $1000 from the previous transaction and a new low since 1897.

750- 900 POUNAS® «...eseeiees [email protected]

“The Pro

TOPCOATS

® Put yourself and your problems in He can help you.

per Fit of

the hands of

@® Does your topcoat look like a gunnysack on you? Does the collar bulge out around the neck like a barrel stave? You can quickly remedy this condition by slipping into one of our topcoats. We make a practice of fitting you so your topcoat is balanced right at the neck points. The collar hugs you perfectly around the neck. shoulders. In paying attention to these details you are assured of a Yopezat that fits with easy, graceful luxuriousness.

It fits through the

an Ayres' Salesporson,

Choose One of these FAMOUS

TOPCOATS

Cheviot .....eisee0s 217.50

Balladier (Hair

35.00

Domestic Gabardine. 29.50 (With Detachable

(Harris Tweed) .

35.00

ppenheiméi Valgora sessetosesy 42.50

{

K eimer Cheviot vesseanes 42.50

Covert Cloths—

$35, $45, $50

Gabardines 45.00

Juan ........ 65.00

—MEN'S CLOTHING,

L. S. & CO

~ SECOND FLOOR.

AYRES