Indianapolis Times, Indianapolis, Marion County, 4 March 1942 — Page 12

: 1 | ko br, | [ A By ROG OFFICIALS IN CHAR HERE are enthusiastic HARS last night) ending co! Contracts henceforth w conference table between the

force procurement divisions. . Many firms in this area have lost much time going bidding tape of competitive bidding have to obtain bid bonds, fig

several w see who @

Roger Budrow YOASS p Ct.

brnus many of the small [factories

roads running through must depend on busses

roughly equivalent to cut a strip three miles w through the middle of f from the Illinois horde Ohio border. Much of this was sub margindl land with delinquent taxes but much of it was highly-produc-tive land, too. So far 1170 farm families have been rced to move. : ” s 2 ODDS AND ENDS: (Grumman Aircraft in Los Angeles is moving manufacturing operations into garages forced out of business by tire and auto rationing. . . . Stock trading in Pebruary was tlle smallest ‘(for that month) since [1915, . . . Steel mills are scheduled to turn out 1,651,100 net tons of ingots this week, a new record. . . . Hood Rubber Co. expects rubber footwear to he rationed next fall and winter. . . » To increase pig iron output, steel mills are washing and cleaning coal to remove harmful sulphur land ash before “cooking” the ore. + +. The 6 per cent increase in | road freight rates and heavier | passenger traffic are expected to boost railroad income |$300,000,000 this year. . . . Berghoff Brewing Corp. of Ft. Wayne had $310,000 net pos, last year against $321,000 in

War Production Officials Hore 32 Cheered by Elimination of Bids Aus

BUDROW - RGE OF WAR PRODUCTION

Il be negotiated across the

Negotiate War Contrasts 2 To Speed Production,

Nelson Orders.

WASHINGTON, March 4 (U. P.). —Production Chief Donald M. Nelson, 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 negotiation rather than through competitive bidding. The directive, which came within 24 hours of his radio speech asking

er plants in the manufacture of standard and cles, puts “primary emphasis” upon speed of delivery instead of price, and dictates letting of contracts to concerns “which nged the smallest quantities of new ma ery and equipment.” So Mr. Nelson said the revision of procurement policies would “result in speedier and more efficient war

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.”

since becoming 8 war board chajrman-—requires army and navy procurement officers.to ne tiate contracts, except where War Purchase Director Douglas’ MacKeachie authorizes competitive bidding. Hitherto, they had been permitted by presidential order to use either method. The WPB’s announcement said

to shutout small business into war

firms free for more - difficult tasks than the manufacture of standard and semi-standard articles. It is also expected to laid in preventing large firms from building up back-

filled by underbidding smaller concerns. Mr. Nelson said that by emphasizing speed instead of price “quicker deliveries can be had at comparatively minor increase in cost.” 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

planes two or three years later.

HH 7%

Meeting Your Tax Bill

"This year many concerns and individuals

will find

t meeting payments of the increased

Federal taxes will necessitate temporary bor-

rowings.

ncreased accounts receivable and

inventories occasioned by war orders may

1s situation

for a business; while an

individua) may discover that the increase in his | tax issubstanially larger than he contemplated.

facilities of American National can where temporary borrowings will urpose. Moreover, the upward trend

of direct for havi commerc

ederal taxes offers one more reason an established relationship with a bank like American National.

You are cordially invited to discuss your mapligh requirements with one of our officers,

AMERICAN

YLVANIA AN

UATIONAL BANK

at Indianapolis

PD MARKET STREETS

manufacturer and the armed|n-

5 COMPETITIVE | BIDDING ENDED =

an immediate increase in produc- Bol .| tion, also requires the use of small-|B

semi-standard arti-|;

procurement and in maximum util-|§ ization of the productive capacity of cl

Mr. Nelson’s directive—his second |x production ¢ ty I&F

that the change would bring hither- g

production and would leave larger|S

NEW YORK S TOCKS

Donald Nelson's order (issued [4m Ga petitive bidding for war contracts.|

ur i 7 bi Haw SS ... Am HidesL pf

Am&F Pr

Atlas Cor orp A Aviation Corp . 3

Bald Loco ct .. Balt & Ohio .. Balt & O pf Barber Asphalt Barnsdall .... Bath Ir Wks .. Bayuk cig. or Beatrice

Jucyrusdd M

ulova urlington M.. Burroughs

Cal Packing Callahan Calum Can

Certain-td $ pr 2 Ches & Nic ag Chic G Chic Gi Why bt 1a Chi Pn Tl rh pf 50%

=| Cluett Peab Coca-Cola ..... Colgate-P-P ... 12% Col Fuel & Iron 1s.

Co. 0 Col Broadcast B I Colum Gas .. 112 Col Gas pf .... 46% Col Pictures ... 5% Col Carbon .... 70 Com Credit ... 18% om Inv Tr ... 24%

Cons Ed pf . Cons Laundries Cons Oil ve Cons Coal ‘pf’ . Container t B

logs of orders that must wait to be|Son

Cont Cont Cont Corn Corn Eo Crane Co Crane Co cv pf 14% Crown Zeller . 11% Crown Zell pf 80% a a ees 332

CurtissCushman 7 pf

Davison Chem. . Rec

Du Pont pf. oe Duques L pf... 114

East Air Lines. 22% Eaton Mf we 3%

wi Erie ot A wi. 30% Eureka Vac ... 4 Evans Prod Ex-cell-0

ed Mot gle oe {3%

ist oN Phers I 74 in

.e 10 rol anobe ee StI nsh - = hit 3

Gabriel A k Crenne 2 air well Wi Samews Co. d. on f ’ Gen able Cable A .

Gable nt . Cigar

Gen

t North Gt Wes reen

rey

Harb-Walk .... 15% 8 Mig

f 2 .e 280

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EA Yesterday svssesensansreenas 100.0%

FF RRs ag 2 555 HES HRSEE ph

By UNITED PRESS

DOW-JONES STOCK AVERAGES © 30 INDUSTRIALS

Week MEO cessecessvspassnes 105.64 Month ABO s.cisvevssssoncns 110.80 Year Ago ......c.ocveines «+ 120.30

| High (1942), 114.22; Low, 105.10. High (1941), 133.59; Low, 106.34.

20 RAILROADS sraneenshnanvenses N48 21.58 28.68 High (1942), 29.01; Low, 26.66. High (1941), 30.88; Low, 24.25. 15 UTILITIES Yesterday ....ccecevecencnss

Yesterday Week Ago esessscsrsnsess ese Month AO ....osescescsesss Year Ago .. :

18.57

+1.28| Ste —o.36/ BS

++:

. . serve 3

Bh Se

Week AO .iciessscesstvcces Month AZO ...coveeessscecns Year Ago High (1942), 14.94; High (1941), 20.65;

13.57. 14.27 19.22 Low, 18.45. Low, 18.51.

ter ~N =~

FEF FREE

CO RES rn8w Bs 03 NN ft NEw

Loews {one Star Lem. : Lorfiara A

BNR SR AR a FILL: +1

No LLWOO

ack Tr .... 31% acy R H.... 20

G.. 12 kt 8 Ry pr pf Fid. .

ars 103% Artin HL Glean) 22Y, rtin Parry.. 4% athieson pf ..169 cCrory ...... cGraw El .... 15%" cKsn & Rob 12% n & R pf 106 veel Os

C. cLellan

30%; 3017 12% 10% 22 a

tlk HLH] +

. 24 vo 24 ee 268% 20% ission Corp.. 10 0-K Tex 0-K Tex of. « 2 y hawk 12%

Monsanto 3 Monsanto of 5 oe i

BB ROD

203

—-

L411:

-h WEIN OO

+H HHH

ea Lead pf B. 1 Ml & Stl C

thle HE

N NYC&StL pf .. N Y Dock pf .. Y NH&H

Norf&W pf ....110 No Amer No Aer Spf. o Amn Avn .. No Pacific Nowest-Airlines

0 oo 5 [HEI PITH: ye . 5 SEES

OT Opts BY LO. Gd. ae an

6 11

©. >

Ohio Oil TY Siver Farm Eq 20% us

DHE + J

8 ey an

Omnibus pf . ov

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Otis Ste 5% Owens wo Glass 46%

= &

> I+:

Pac Am Fish . Pac G&EIl Pac L

FAR pt

bet

ard Va n Am A Airways 19%

Parattine. Co .. 24 Parmt Pict fay Te

Dr DIO DO BD OO CN =F 1b CO = OBI bt uF «3 00 00

LEER (A:

Patino Mines . Pen Ford ... 5

Pere Marquette’ 27 Pet Corp Am .. 5} Phelps odes .. 29% Phila f . 3TVa 97%

. 87%

Phil Morris pf "106% Phinp ps Pet . 3%

Man cccvees 24%

Radio

pub! Public Si pt. 100 yn vess Aa

25%

Ruberoil Rustios s “I&Stl.

Sate fi eway 5 t. 138 a; ews St J os Lead he

3 26 an” a 3

LOCAL ISSUES

Nominal quotations furnished by loeal unit of National Association of Securities Dealers.

an wt

Stotks

Aponts Finance Co. Inc com. . ents Finance Co Inc pfd.. gar RR Stk Yds 5 spi. Belt RR Stk ¥da 1 D. d. Bobbs-Merr: Bonke-errii 5% "oid Circle. Theater com Gomy omwith » oan 5% vfd.

Bid a0”

Ask

Fi . wn” ssseee 30

Ind 4.8% e_ Co com.......

EEE oe.

gy Newsvaper

of a ol

oh hssce 7d], co. A

é ili

of | LOCAL PRODUCE wifingers, under 4 tba, Bered and

Leos he Har Leseheree

Roasters sstgry, 4 Th. and ever; r; Barred and

Grades, 3 cente lass. ho. pe t receipts, 54 lbs. and up,

Eggs—Grade A la : Grade A m aul

tter—No. fase; No WE af i

*| which rose by that amount yester-

2| and several special issues.

% rails eased after Atchison had made

s | steady. 4

‘| INTERURBAN TRACK

{?|was unchanged to up % cent a

[+++] +1

HEHEHE iy. x

L+H: 1 4++!

LH H+ lS

8 el

35 eer Se

E411:

45% 50

. as

... 18% ve 24% 27% 16

18% 34% 27% 16

+H:

PH | FEE RE Ben

1:1) . . A

nion. .. Air_Bke.. esting El .... 75 eston | a In.. % heel 8 r ‘of 67 3 Br” Lev na

Jest

REE

cease

TL. igl . 50%

# x EE aS ser es

12 120 34% 10% y

Ya 2%

T Young Sheet . Young Stl Dr..

0 - 34%

Zenith Ra d.. 9, Zon 2

STOCK PRICES DROP

Stocks made an irregular decline

and steadied around the lows in the early afternoon trading with volume light. Losses ranged to more than 2 points in American Telephone

day. Steels were down nearly a point in the leaders and losses ranging to more than a point were noted in du Pont, International Harvester

A block of 20,000 shares of Commonwealth & Southern sold at the year’s low of 25 cents a share. Utilities generally were slightly lower. Aircrafts had fractional losses. The a new high for the year. Motors were off small amounts. Exceptions to the decline were noted here and there.

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

WILL BE SCRAPPED

The last remaining link in In-

A diana’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

bushel; corn was up % to %; oats up % to %; rye unchanged to off 1%, and soybeans unchanged to off %.

U. S. STATEMENT WASHINGTON, Mare 4 (U RP.) G0

ernment e ses current fiscal year through Ma

pared with a year

lee

INDIANAPOLIS CLEARING HOUSE Clearings ....c.ccocovieccnases $ 4,497,000

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 Sesescecsssiscnves 155.29 Week ago 48 005003598500008¢ 154.68 Month'/ ago ecssssncsnesencee 154.57 ss@ | Year ago esvsessccsngsnssvene 124.20 1042 high (Jan. 26)...see0.0¢ 155.89

IN LIGHT TRADING]

NEW YORK, March 4 (U. P).—|

during the morning dealings today :

Building | 3 shares were strong with John-Man- | : ville up a point at a new high for|: the year of 62%, Allied Chemieal

hel 1942 low JON." 2). ccsvesasons 151.54 3 Nnm—— m———— _ —_- oF = :

ENTS TS 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 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 committee if it wants to hear them. He has repeatedly warned of inflation-

consumer goods as contrasted with

available this year. The mounting 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

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

ary dangers from the “shortage” of 1400-1

G the amount of consumer goods 3

goods would be even more drastic| S394

A 20-cent advance in most prices at the Indianapolis stockyards today boosted the top to|c $13.50, the highest in four years,

reported. Weights over 160 pounds made the’ 20-cent advance while lighter weights rose 10 cents. Receipts in-

hogs and 228 sheep.

HOGS (6659) (Barrows and Gilts) Good to Choice

1 p 160 pound

200 pound 220 pound

a3 Satan ta he

hth fk df ok

19. tacatate

hes

Too 200 pounds . Packing Sows Good and Choice— 270- 300 pounds 300- 330 pound 330- 360 pounds Good— 360- 400 400- 4 450- 500 Medium— 250- 500 pounds Slaughter Pigs Medium and Good— 90- 120 pounds CATTLE (1423)

Slaughter Cattle & Calves

pounds pounds pounds

Choice—

pounds |... pounds

POUNAS | cacosscssnes

1300-1600

Medium— 750-1100 pounds esceesscscccs 1100-1300 pounds ... vate

Common — 750-1100 pounds Steers, Heifers & Mixed’.

Choice— 500- 750 pounds . [email protected] nainaey veeeee [email protected] Heifers erssseenssss [email protected]

. Phd bid fk fk fd OO | atahal) | ott > Dada DI hn ds obser on QUIOO oo

500- 750 pounds

Choice— 750- 900 pounds

cluded ‘1423 cattle, 533 calves, 6659 |

Jodie

3 Medium

[Most Hogs Up 20 ) Cents Her $13.50 Top Is Four-Year High

8200 pounds cessesesee. [email protected] Medium - 9. ¥o

“80-500 pounds .eeeecniipe Cows (all weights)

pounds ..eevccccees

the Agriculture Marketing Service Good.

Bulls (all weights) (Yearlings excluded) Beef—

Good [email protected]

9. : jneus

tease sesenesentaser tn

CALVES (533)

Vealers (all weights) Good and choice Sotmon and medium

Feeder & Stocker Cattle & Calves

Steers

tesesneseses $11.00 eves bacseens 10. %

sees or «e« 1025011.

ean 9.00@ 10.28

Chol 500~ 800 bounds 800-1050 pounds

Good— 500- 800 pounds 800-1050 pounds Medium 500-1000 pounds Com 500- 900 pounds Calves (Steers)

Good and holes 500 p

+ [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 s Good and choice [email protected] Medium and good +. ...c urine 18 30 i

Yearlings Wethers ood' and choice

Good ‘and ch Common and PIC® atin”

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 trom the : previous transaction and a new low & since 1897.

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It fits through the

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Cheviot ..visncons 21.50

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sess

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uppenheimer Valgora sesssbosne 42.50 .

Kuppenheimer Cheviots ......... 42.50

Covert Cloths—

$35, $45, $50

Imported Gabardines 45.00

Don Juan ........ 65.00

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