Indianapolis Times, Indianapolis, Marion County, 19 March 1942 — Page 12
io
Indiana Porcelain Enamelware Firm Afr
Converts to Armor Plate Manufacture
—
By ROGER BUDROW
ABOUT THREE MONTHS AGO the heads of one Indiana manufacturing concern saw the handwriting on the
wall—the war was wrecking their business.
They were in the business of making porcelain enamel-| A
ware, sheet and castings. Their products were used in re-
frigerators, stoves, table tops and the like.
But steel was
going to war plants, not to them.
So they made several trips down
here, talking to war production
board officials. When they got to
talking over ideas, the WPB en- £ gineers asked for a list of facilities and equipment. That was successful step No. 1 because it unearthed the fact that this company had several heat - treating furnaces and. ovens. It so happened the WPB engineers knew of Boger Budrow ,, 1ngianapolis firm, making armor plate, that wanted some help from other concerns. So the two were brought together, Those furnaces, scarce items these days, could be used to heattreat armor plate. Now the porcelain enameling firm is going into the manufacture of armor plate as sub-contractor to the firm here, which in turn, is sub-contractor to other concerns. The out-of-town manufacturer doesn’t have 'all the machinery it needs yet but it will leave the machining of the armor plate in the hands of the Indianapolis firm until the machinery arrives. Thus, instead of table tops, the company can make parts for airplanes, tanks, scout cars, etc—and can stay in business.
” 8 # ‘IT'S DISCOURAGING to war production plants to work day and night, increasing their output, and then see lack of co-ordination at the top of the war program hamstring their efforts by causing such mixups as this: Iron Age tells about a case where a machine tool maker rushed two jig borers a month ago to a plant which won’t be completed for another month. Meanwhile, other war plants are losing time waiting for such machines. "
ODDS AND ENDS: A block of 1100-1
250,000 shares of International Harvester Co. common stock, from the
. Harold F. McCormick estate, will be| Con
sold publicly in a few: weeks. . . . Bond clerks at the New York Stock Exchange have organized into a union, first union to work on the floor. . . . Du Pont has developed an ‘ “acoustic fence” for war plants which has “robot sentries” which transmit the slightest sound to human watchmen on guard at central points. . . . Some Consolidated
Edison Co. stockholders raised a|Good .
ruckus at’ the annual meeting because the company has 27 vice presidents on its payroll, maintaining that is where costs should be cut, instead of cutting dividends. . . . Lloyds of London has boosted cargo insurance 50% on boats plying be- . tween U. S. and any other country except the United Kingdom.
LOCAL ISSUES
} inal quotations furnished by local ny Nationa! ions ns of Securities
Stooks Bid ohts Finance Co Inc com 4 «3 oe 53
Ask
Fina nee. Co Inc p RR Stk Yds com t RR Stk Ya pid ... bs-Merrill ¢ com .. . _.. obbs-Merrill 4%2% pid . rele Theater co
m ook Drug Co com . { ome T&T Ft Wavne 7% vofd 50 g Assoc Tel 5% bpfd 102 d - Mich 7% ofd ... :
Ea
e T& Wayne's i]
TV 5 if on. ater Warks 5s 57. 105 ac Term Corp 58 8
Machine s Ss 51 Machine op
WAGON WHEAT o the close of the Chicago Market >, “Indianapolis flour mills and grain elevators paid $1.16 per bushel for No. 2 No. Wheat (other grades on their merits). 0. [IH
yellow shelled corn was T76¢c es and No. 3 white shelled corn, Ne. 3 white oats, 83c, and No. 3 red oats,
HOG PRICES SAG
As 7455 Porkers Arrive At Stockyards.
Hogs weighing more than 160 pounds sold 5 to 15 cents lower at the Indianapolis stockyards today than yesterday, the agriculture marketing service reported. Lighter weights were unchanged. The top was $1340 for good to choice 200 to 210-pounder. Receipts included 772 cattle, 583 calves, 7455 hogs and 1789 sheep.
HOGS (7455) (Barrows and Gilts)
[email protected] + 12.25 Jaa
210- 300 pounds . 300- 330 pounds ....ccco0vces 330- S60 pounds
Mediu 160- 200 pounds Packing Sows Good and Choice— 270- 300 pounds 330- 360 pounds 360- 400 pounds Good -
300- 330 pounds #00- 450 pounds . .es 450- 500 pounds ...eccee
Medium — 250- 500 pounds ........ oe [email protected] Slaughter Pixs Medium . and Good— 90- 120 pounds CATTLE (772)
Slaughter Cattle & Calves teers
Choice— 750- 900 pounds ........
oni gan ie 300-1500 pounds ....
3 390a13-2 .20 12 95@13. 10
cesses essrens
12.90 12.85 12.65
13.00 13.00
.+4.814.00014.75
‘es }3.00 14.00
sssesvannes pounda pouna
dS cecoeseccce. [email protected] [email protected]
1100.1300 ) poun
730-1100 ) pounds resin Sesrbes . Steers. Heifers & Mixed
«+ [email protected] [email protected]
Cholce— 500- 750 pounds
Good— 500- "750 pounds ¢ Heifers Chot
ce— 750- 900" pounds ..:ccceeense Good— 750- 3% pounds Mediu oN. "300 pounds
12.50013.60
[email protected] s.00@ 9.50
EET RY TERR RY
8.75@ 9.50 '25Q 6.7
(Yearlinge excluded) Bet
ae "Good Medium Cutter and common CALVES (583)
. Vealers (all weights)
Good and choice .......... rae Caiman and medium
10.25 9.75
Feeder & Stocker Cattle & Calves Steers
Choice— 500- 800 pounds .......eecce: 800-1050 Sounds censen Gaod-
12.28 13,00
11.26: 11.00
i 60 [email protected]
[email protected] 8.25@ 9.50
sesvsenntetane
800-1080 Pe
sev sscesenese,
C00 900 pounds Calves (Steers)
Good and Choice—
hind Sounds down .. . [email protected]
Moo" "pounds down '9.00011.50
Calves (heifers) Good and Choice— 500 pounds down .
edium— 500 mounds down SHEEP AND LAMBS Lambs
(1789) °°
[email protected] 104g X [email protected]
choi Common and medium
INSURANCE FIRM GETS BOND ISSUE &
Insurance Co. outbid bankers and bettered the RFC’s standing bond offer on a block of $3,650,000 of 25year first mortgage bonds of ‘the Louisville Transmission Co., it was disclosed today when the insurance firm was awarded the issue. . Northwestern bid par for the bonds as 3's, an interest cost bases to the company of 3.125 per cent. Another bid, of 100.0713 for the bonds as 35s, was submitted by the
oor brokerage firm of Blyth & Co. Inc,
and 17 associated underwriters.
GUARANTEED
/) War YT 2207
AT OUR USUAL LOW PRICES §
JS ie ne,
OUTFITTERS to Men, Women and Children !
Sy mos
|. MODERN
TAILOR-SHOP CLOTHES Beady-for.-Weating lathes with, : A Tailored Look
LEON. TAILORING €0.
In the Middle of 235 Mass Ave. 75, ice
WASHINGTON PARK MAUSOLEUM
Washington Park Cemetery For Information
Phone IR-8383
50 15 GENTS
Top Returns to $13.40 Here A
12.95 | Ch C
14.00{ C : pagel sony
E0110 pounds «c..evcseenee [email protected]| c,
cessasssesces [email protected] é
r 9.00| Be
. [email protected] | Fi 8.50010.25 |!
' NEW YORK, March 18 (U. P.).— The Northwestern Mutual Life Siidden
Abbott Lab
os
4 Mie Con oh d Bd
Allis-Chal Amal Leath £ Am Air] Am Bk Am Am Br Am Can Alm Ca. Am Gar &
\in- Haw 3 i m one
-»
hh hh hh hb > » > 58
gi ‘[email protected]| S81, 12.35918.15| Can
Caterpillar T.
Cent Foundry : Cent Viol Sug. erro de Pasco
[imax Moly Go uett Peab
1 1378 agi a8! S 5 . i Com Credit
C Com Sol
ons Cons Of Cons Cons E Cons Cons Film Sons Cons Cons Cons Co
pf Crown Zeller ot Crucible St ... ba RR
Cushmn 8 pt..
Davison Chem.
Du Pont Du Pont pf .
East A Lines ..
L ElPwral, st pf Eng Pub 8 Eng P A > 50 Bt Erie c nm wi .
Erie x Eureka Vac ...
Fair Morse ... Fajardo Sug T pt..
Nifestone Pt A intkote olia'e Stl'ev of
Frank Sim pf.. Freept-Sulphur.
Gair Robt ..., Gamewell Co . Gar
G it Nor pf Y Gt West" Sug. Greyhound Cp. Greyh 5' pf. Grumman A E. Gu
Hall Print Herc Pdr
Homestake
Howe Sound . Hupp: Motor .
nd Ray
In [nt Harvester. Int M M
Jarvis Co rJewel Tea
> JonussMal th . Jus & Lgh pt B Bl 2
Allied Chem ..
16% . 36
M&Oh pf.
High Low wn Ann
40
5 vid 20 Ya
34% . 31% 58
91 8 30%
9 Ya sgn 9%
cupf.102 sania] 28%
10%
oo 08 . 64
East Bodak ... 120% 11.50| E: Mfg .... 28%
20% ® 8 4
n va Nor Ore .. 1
er nae Hershey pf .... 80
32 11-18 11-16 le - 25%
Inspiration | C Tosi te op Te
43
8 * 30%
13% 11-16 15% 1% 24 48%
9% 102
WT 30%
16% 36
30 INDUSTRIALS Yesterday ...ccoevovesvensene 101.64 Week ARO ...locevcancenncss 99.28 Month AZO «.ccisssanscennes 105.57 Year Ago ceasnscase 128.60 Ya| High, 1942, 114.22; Low, 99.21. High, 1941, 133.59; Lew, 106.34,
tasters
Yesterday .... Month Ago ..
High, 1941, 30.88; Low, 24.25, 13 UTILITIES Yesterday “stances sentene Week Ago sensesstenaneteres Month Ago 18.59 Year Ago 19.86 High, 1942, 14.94; Low, 11,95. High, 1941, 20.65; Low, 13.51.
12.11 11.99
ssesssssscanen
Net DOW-JONES STOCK AVERAGES
-~0.90 +0.02 +0.22 +0.03
High arshall a « 10% 23
artin
2 2 8 «29 . 113 4% 3
a C
Murray ...
Nash Relv seus Nat Bigcuit ... Can Corp.. Cash Reg.. Dai .
t Dept St Distillers . Gypsum pf
C&StL 47 Norf & West. 162% No Amer No Amn JA: 13d Pacifi
Ohio Oil Otis Stl cv J Owens iil
6% 65; y Sots 56% 45% 48% —Pe Pac Coast 1 pf 20 Pac Coest 2 pf 11 Pac ain Pac Tin Cons.. 1% 14% 8
Dd ~e
wd
BE
Packard Pan Am Airw.
: bor BE — C0 = 00 ah. N- » “
Pure Oil ...
""34 | Purity Bak . - 4
I +1 + +
+
4
TY Std Oil
[++ | 2 = ig
[4+1+1 14+ +++ ++
Er EERE HE =.
40H LM ¥ ar
sa
tH EEL
HHH HH+] - :
4: +41 TH+)
RE
+. H+):
/ Safew seete 382 St iy Lead’ see 34 Sad
+1 -16 Ya
is So 3% Sper! Std eae Std Oil Ind ....
NJ.... Starrett L 8..: Sterl Prod
Hl
uth
Pa wift P
connni dl & Co.... Tenn Corp .. Texas Co
m
™
Ti
hy]
Transamerica . Tri=Cont 20th Cr : A Un ‘Atroraft pt 97% 96% —l— 32 8
Und. Ell Fish n B & P
Uni Onion MD 60 U El M o 4%pf. 102 Un Pa cific 2 Un Aircraft .. 32% Un Lines...
v4
ft NS
RE, Dani PE ol ERFRRERRSS STE . +
SW =
Un ale Univ P 1 pf ..1
oe 17% 17%
8 28
8 8s | Vanadium .. 8 i
» | Wabash’ pf wi..
sen
CALLE +L
—
Willys Willys Grerjand i Wilson & Co . Woodward Iron 2 20 Woolworth .... 25 24% . Ye 1% 11% 20
. 34% 34% ili 9% 2
Tos FLUCTUATE IN ROUTINE TRADE
NEW YORK, March 19 (U. P.).—
Yellow Tr ..... Yellow 8 pf.. Young Sheet .
+i HEI HEIE
A Rad . 3%
4 The stock market fluctuated nar-
rowly today. Small gains and losses balanced. Volume was around the smallest of the year. Some chemicals developed weakness with Dow off 2 points at a new low. Homestake Mining (gold)
: made a new low at 26%, ex-divi-
dend, off 13s. Chrysler was unchanged at 53%,
¢ |while General Motors gained % to
35. Bethlehem Steel had a. minor loss and U. S. Steel a small gain. Santa Fe was firm and Union Pacific easier. Montgomery Ward lost;
*| Sears Roebuck gained. Standard
Oil of California gained % while
‘33| Standard (N. J.) lost that fraction.
International Harvester eased 3% to a new low at 42%. Traders watched events home and abroad for a clue to the market's future
'y,|and meantime conducted only rou-
tine business in the usiness in the share Inarket,
+ AGREEMENT NEAR IN
STATE MINE STRIKE
TERRE HAUTE, Ind., March 19 (U. P.).—A threatened shutdown of southérn Indiana’s deep-shaft coal mines and unemployment of some
.., |8000 miners because of a walkout of
Hogs—Receipts, active ang LENE On Ss: good oice 1
cholee’ aioe ‘160-360 “ibd,
bs. and up. Rece!
all wel 2001
Be 13% Shee X ia fog 35 ston to a choice decks fed
i Thdizio; 10; from $11
odd loads, hea
40. active d on } loads’ 1 100° lbs. and down, choice AT
1 5013s: few big wn: one double fed Receip
Cal teers and : b $15.35; Very few SOCKS and feeders load choice 1030-1b. . price; several $12.10 and $12.
font Sa fan br
Bos a Ta 3 Sern
OTHER LIVESTOCK FE 1 P.
11.90: 100-3139 lambs, $11.
atves wil
CHICAGO LIVESTOCK o 15000; gn EaEket fair) fairl; aE Wednes-
ooled lam nd holon 90-104 To wi ES
vier 1.85; double 103-Ib. 5. I Jnmer
The "
41 Yesterday
a |400 drillers and shot firers in a
wage differential dispute was believed averted today when officials of District 11, United Mine Workers (C. I. O.) ordered the men back to work. Francis Hass, special representa-
*| tive of the U. S. department of la-
bor, confirmed the union officials’ order. Mr. Hass had been called in as mediator between the union
Operators’ association. U. M. W. A. District 11 President
¢| Louis Austin said some agreement
in the dispute may be reached today:
DAILY PRICE INDEX
NEW YORK, March 19 (U. P.).— Dun & Bradstreet’s daily weighted price index of 30 basic commodities, compiled for United Press (1930-32 average equals 200): 3 ais snide avesaness 109.01 Week 880 i... cvverssineves. 15579
‘Month 880 .....cveerieens.s 155.01 % Year ago ..... eresssnvsvnene 12078
1942 High (Jan. 26) ........ 155.89 1942 Low (Jan. 2) .......... 151.544
Incorporations
yy Broil Electric Co.. Brazil: final dissolu-
West Indiana Utility Co., Indianapolis; final OS son tion Hundred Club, Inc., 1546 N. IiRnois ndianapols: no capital stock; to proEt a sports; Arthur McLermott, Andrew
ers. -Bott Threshing Ring, South Whitley dissolution sade Homes, Inc, Ya IParaiso; dissolu-
Bremen State Corp., Breman: amendment of atticles of Anootna ation Kirkwood Park . Association, Inc. 530 ; no’ capital arry 3.58! ack, Indianapolis; “A Ambassador Star Brand,” class 45 ents of foods.
Inc.
This chart means bad news
for the axis. It shows the production curve of MarmonHerrington, Indianapolis tank and war equipment manu-
facturer. To prevent giving information to the enemy, it is based on percentages,
rather than production units,
boosted its production 1200
per cent. In the first two months of this year, the company shipped more ma-
terial than it did during the first half of last year. ° And, wrote President A. W. Herrington to War Production
Chief Donald Nelson:. “Your request (for a 25 per cent in¢rease in production) is reasonable but we pledge 100 per
cent.” Secret of Marmon-Herring-ton’s success is attributed to
its wide sub-contracting system and to the fact that it went out and got orders from
friendly foreign countries several years ago, at a time when this country wasn’t so interested in armament produc-
tion, thus placing the company in a position of preparedness,
330 po SHIP O UILOING
S00
RIGUST, /1939:/00
2s0 le MACHINERY
200 DEFENSE NOUS TRIES TOTAL = INOUS TRIAL 150 PROOUCTION
Ltt ittiatyaa
paras laaaag
1939 /9¢0
opel
and officials of the Indiana Coal =
U. 3. STEEL CORP. HAS 116 MILLION PROFIT
NEW YORK, March 19 (U. P.) — The two-billion dollar U. S:. Steel Corp. did a record gross business of $1,600,000,000 in 1941 and at present three-fourths of its vast production is for the defense program, Irving S. Olds, chairman of the board of directors, said today in the company’s 40th annual report. A long list of records was registered by U. S. Steel, world’s largest steel company, in 1941, Lhe report revealed. These were in total business, production of steel ingots, shipments of finished steel, employment, payrolls, hourly wages, and annual wages per worker, Taxes ate heavily into earnings, however, and the corporation was forced to set up heavy reserves for contingencies and the eventual transition to peacetime operation so that the returns to stock holders were unchanged from 1940 when gross and net income were much smaller. 3 Despite the higher taxes, net profit | oo amounted to $116,171,075 or $1045 a share on common stock, against
“1$102,211,282 or $8.84 a share in 1940.
Grain Futures
Forced Lower
CHICAGO, March 19 (U. P.).— Commission house selling and trade pressure sent grain future prices down fractionally to- more tham a
point in early dealings on . the board of trade today. At the end of th first hour wheat futures were off 5% to % cent a bushel; corn off % to 3%; oats off % to %; rye off % to %, and soybeans off % to 1%. ; Nervousness was felt in the rre pit following yesterday's closing hour break, and the feeling quickly extended to other futures markets.
U. S. STATEMENT
WASHINGTON, March 19 (U. P.).— Government spneding and receipts for the current fiscal year through March 17, Sompared, 3 ith A ary age: +t
Expenses $15.68 B67,611, 878. 49 $8.16, oat. 098. 08 W. Spend. 975.7 1990. Receipts, . Net f.
11,3 Cash Bail. 3.107.741.4701 yor, Bak St, 131.2
INDIANAPOLIS CLEARING HOUSE Clearings ,...ccoteecensnsianas .§ 6,278,000 Debits 12,
diassnensesnist sas eas tens
Unemployment in Indiana :
* "Double That of a Year Ago.
By UNITED PRESS More than twice as many Hoosiers are out of work today as at this time a year ago. But industrial lay-offs, which reached flood-stage in January, dropped to a normal rate early this month, ' Pointing to the bright side of the picture, employment officials noted the drop in mass lay-offs resulting from industry’s swing from 'peacetime to war-time production, and reported a slight ‘increase in employment throughout the state in February. Here's the situation, as described by the employment service and the I employment security division. *
47,000 Geis Checks
1. The extent of unemployment was indicated by more than 47,000 workers who drew job insurance checks during the week ending March 7. This was more than dou- - ble the previous year’s total for the same period and was considerably higher than the comparable figure for 1939 and 1940. 2. Initial claims for job insure ance ‘for the first week in March dropped to 2521 which is about the normal turnover for March at the present level of employment. One month previous, 3928 claims were filed and 12,557 applications were made during . the same week in January. 3. Despite mass lay-offs due to the conversion program, February employment was approximately 15 per cent greater than a year ago, an increase of about 49,000 workers, Employment officials explained that gains were made both in em ployment and unemployment as a result of young people taking their first jobs, women entering induse try and an increasing number of out-of-state workers finding jobs in the state. :
LOCAL PRODUCE
Springers, under 432 lbs. and Wh te k, 17c; colored, 50; "Le PS Tae
Heavy breed colored hens, full feathered, 19¢; Leghorn hens, l4c Roasters m bs. and over: Barred and White Rock, 19c; colored, 18c. All No. 2 grades, 3 cents less. Cocks, 10c. 5 4 t receipts, 5 bs. and up, e
-— Grade A large ’ Grade x m um, 25¢; Grade A small; F134
no 33 Bae I%@38e; No. 3, 3@ 3 Tort gy HORN Wadley oy p
Incorporations
Century Metalcraft Corp., Delaware core poration; amendment of articles of incor= poration, The Container Co., Yan Wert, O.: hi . tration of trademark “The Con class® 2: receptacles.
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