Indianapolis Times, Indianapolis, Marion County, 21 May 1942 — Page 21

NEW YORK STOCKS

By UNITED PRESS -

DOW-JONES STOCK AVERAGES 30 INDUSTRIALS

Indiana Wheat Shippers Try toi Stave Off Government Control

High Low Bonn:

Soe +0.17|8S0 Cal Ea -0.08 —2.22 South -1.01

Yesterday 98.13 Week ARO ccvuscceveseccness 97.13 Ye Month ALO ceccccsssscsscecs 94.98 Year ALO ....ccccvveeseccese 116.81 4| High, 1942, 114.22; low, 92.92. High, 1941, 133.59; Low, 106.34. 20 RAILROADS Yesterday ..... Week Ago RDN ANE A Month Ago cssssssvscscences 24.03 Year Ago . 21.76 High, 1942, 290.01; Low, ‘2372. High, 1941, 30.88; Low, 24.25.

15 UTILITIES

Net Last Change Abbott Lab ... 38% 1% & Straus.. 31

Bg Steel . 43 43 ag | a | 19%

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w a . 16% t 3%

By ROGER BUDROW

“KEEP YOUR WHEAT DOWN ON THE FARM unless Alliz-On re + you have a permit to ship it.” That is what Midwestern farmers will be hearing shortly. The reason: There is a|Am two-year supply of wheat clogging the elevators now and very little room for any more. A T The storage situation is this. We have had bumper AR Gila crops in recent years. Foreign markets have disappeared|4im Gom Ale .. 82 ‘because of the war. The war has created a big demand for|AD&EEY $7 vf it 334 corn, but not wheat. Indiana’s 22 million-bushel wheat

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crop this year (Purdue’s estimate) is about 12 million bush- Am

els more than we have room for.

That means it is up to the farmers to rig up corn cribs, barns, garages, anything that will store that extra 12 million bushels of wheat. The AAA is not being so particular this year about what kind of storage its’ loan wheat is put in. The permit system, which will be announced for Indianapolis any day now, is a plan worked out by grain, railroad Roger Budrow .,4 aaa officials to head off direct government control of grain shipments. The railroads, by working closely with each other and shippers, have thus far prevented the government from taking them over as it did in world

- war I. Grain shippers believe they

can do the same. The permit system requires the farmer to get a permit from his local grain, transportation or AAA agent before he can ship his wheat. The permit means there is a place for that wheat to be stored and thus not tie up railroad cars needed to haul war materiel. This year it is “Indiana elevators for Indiana wheat.” No more of what Happened last year when the Commodity Credit Corp. shipped in great quantities of grain that it had no room for in Kansas City, making the crowded situation here even worse. Country elevator men may fuss some about the permit system but the permit committee tells them this: Get as many of your farmercustomers as possible to build more storage space and youll get their business later when they ship. That way you are able to keep your old customers. Otherwise you will be able to take the wheat of some of them and the rest will be left high and dry. os » fd

ODDS AND ENDS: Coffee rationing is next. . . . Those 40,000 army trucks lined up at an eastern port make it hot for the shipping officials. . . . 350 Pullmans and “luxury” cars have been converted into coaches. . . . Big shortage in fats and oils is.in vhe making. Lard reserve went down 55 million pounds last month. . . . About 400 more pounds of that Russian dandelion, roots of which yield rubber, are on the way to this country for experimental planting. . . . Loss of Burma took 10% of India’s rice supply... . Sugar stocks are more than ample now to meet rations but officials want to hoard the surplus in case shipments are interupted later.

AUTO FIRMS DENY

DETROIT, May 21 Automobile manufacturers vigorously challenged today suggestions that they were fumbling the manufacture of airplanes. They said the sub-assembly of airplane bodies was ‘coming along,” and at the same time the industry was pouring out motors, guns, tanks, gun mountings and ammunition. They had heard that J. H. Kindelberger, president of North American Aviation, Inc. had said it was costing twice as much and taking twice as long for automobile makers to get into the production of planes as it would have aircraft makers, using their own methods. “Kindelberger should come to Detroit and see,” was the general attitude here. “Mr. Kindelberger has done a great job in the aviation business,” K. T. Keller, president of the Chrysler Corp., said. “I think the automobile industry will take .care of itself and make a valuable contribution to aviation.” Keller said Chrysler already had sent the first sub-assemblies of body sections of a bomber to the factory for assembling. “We never had a job that went together easier and better than this bomber,” he said. “We're doing the job just as the manufacturer is doing it. We sent our supervisors to the factory to be trained. I think we made some short cuts to improve it.”

PRICE MOVEMENTS IN GRAIN ERRATIC

CHICAGO, May 21 (U. P.)— Grain futures advanced and receded in erratic early dealings on the board of trade today. At the end of the first hour wheat was unchanged to off % cent a bushel; corn off % to up %; oats off % to 2%; rye up % to & and soybeans unchanged to off 3%. Despite news that the senate had approved the measure to allow sales of surplus feed grains below parity, only mild pressure had been evidént in the futures market at the start.

LOCAL Toles

Nominal quotations furnished by local gai, of of National Association of Securities

Stocks’ Ask Agents Finance Co Inc com. fsents Fi

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Van Camp Milk pid ..} Van Camp Milk com Bonds Algers Wins'w W RR 4%s American Loan 3 51 American Loan

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Some time ago | decided to dispose of my 5° rooms of household goods so calléd Fhe Indianapolis Times to advertise my goods for sale. Well, almost as soon as the afternoon

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STOCKS LED HIGHER

NEW YORK, May 21 (U.P)— Stocks swung forward fractions to more than 2 points in expanded dealings today. Motor, mail order, chain store, gold and finance com-

Some buying was traced to belief that the treasury department’s drastic tax program for individuals

ward revision of the corporate tax

Chrysler featured with a 2-point gain to a new high at 58%. General Motors rose a point to near its 1942 high. Sears Roebuck jumped 2% to 50% and J. C. Penney, Woolworth and Montgomery Ward rose a point or more, the last. to a new high. Homestake led the old mining group with a 3-point rise. Commercial Investment Trust and Commercial Credit reached new 1942

point. up to new peaks for the year on more moderate gains. Steels joined the recovery after lagging earlier, Bethlehem rising 13% to 52%. Aircrafts also rallied after early weakness.

THREE WPB FORMS WILL BE EXPLAINED

The Automotive Booster club will meet tomorrow night ‘at Hotel Antlers to discuss three war production board forms.

director, and Edward C. Lahman,

126) required by the WPB.

U. 8S. STATEMENT

WASHINGTON, May 21 (U. P.) ernment expenses and receipts foro the current fiscal year through ay 19 compared wit, b.3 3 Jar 380:

el 98 4, > ag aldee 2 3 Work. Bal. 2,613,189,380.84 1 Pub. Debt 73,533,742,852.90 54, 096,592,983. a Go'd Res. 22,709,165,986.78 22,550, 357,595.54

INDIANAPOLIS CLEARING HOUSE Cleatings sssrese esresasiasins . 8 4,842,000

7 | agriculture marketing administra-

calves, 8893 hogs and 718 sheep, 8

BY ‘PEACE SHARES’:

would lessen pressure for an up-|,

peaks on gains of more than a i Rubber shares also moved ||

Albert O. Evans, state priorities |Medium—

3 | Common Pi medium 85

Decidedly different was this ship launching at an English port, when the forepart of a 12,000-tom tanker slid off the ways. Aft half of the torpedoed ship had been saved when its forepart sank. New section was built and launched for drydock “fitling.” (Passed by British censor.)

10-CENT GAIN MADE BY HOGS

Top Pushed to $14.35 Here As 8893 Porkers

Are Received.

Hog prices advanced 10 cents at the Indianapolis stockyards today, boosting the top to $14.35 for good to choice 220 to 240-pounders, the

tion reported. Receipts included 1005 cattle, 619

HOGS (559)

Good to Choice

RANT 13.35 13.85

ers 14.1 [email protected]

160- 220 pounds [email protected] Packing Sows Good and Choice—

270- 300 pounds 300~ 330 pounds ..

360- 400 pounds ..ececescises

3 30 13.95 400- 450 pounds .. 206

‘ 13.90 450- 500 pounds ...ccep000.. 33 13.85 Medium— 250- 500 pounds Slaughter Pigs Medium and Good— 90- 120 pounds

CATTLE (1005) Slaughter Cattle & Calves Steers

[email protected]

750- 900 pounds .... pounds .

pounds ..

900 pound

100-1300 . 1300-1500 cessssnueeces Medium—

750-1100 pounds ..eceee. 1100-1300 pounds ....ee..

Common— 750-1100 pounds [email protected] Steers, Heifers & Mixed

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Choice— 500- 750 pounds

Good— 500- 750 pounds ~ Hell

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Choice— 750 900 pounds ........e.o. [email protected] 50- 3m pounds «eeesecasssss [email protected]

7 Mediu 500- 900 pounds «...ceqees-.+ [email protected] [email protected]

Common— 50

Bulls (all weights) (Yearlings excluded)

seeeve sesssssassassesss [email protected] . [email protected] [email protected]

Beef— Good

CALVES (619)

Vealers (all weights)

Good and choice Solmon and medium

Feeder & Stocker Cattle s Calves 8

crannnse ees. [email protected] [ [email protected]

11-3012. [email protected] [email protected] [email protected]

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500~ 800 POUNAS ..osssssecess 800-1050 pounds ...eececesese

500-1000 POURS .covesoncenes Comm

ON — 500- 900 pounds Calves (Steers) Good nd Choice— x unds d

[email protected] [email protected]

[email protected] 500 Ponds down ......... «oo [email protected]

SHEEP AND: LAMBS ny

Good and cho!

Shorn Lambs

d choice ..,.......«s 13.50 2 | oom and good 12.00

14.50 13.50

Up to the close of the Chicago Market today, Indianapolis flour mills an a jrot elevators paid $1.09 per bushet- fo; for 2 red wheat (other on their merits),

7 white shelled 60 56c and No. 2 Ted’ oats,

No. Sughgl Boas 50e. bi

$3 to $100 a Year Mem tite) Seve

YOUR REAL ESTATE

Over a period of many years our

3 14 20 ensuring that every part fits exactly.

10:39 | more men than it did in peace time,

New Ford Bomber Plant

‘All-Out’ in a Few Weeks

est the united nations have, will be Run factory in a few’ weeks.

DETROIT, May 21 (U. P.).—Consoiidated bombers, among the large

pouring from Henry Ford's Willow

The first ‘has: been assembled. A second has been fabricated in sube

Production will be based upon the automotive industry’s mass methods. Frames, sections and fuselages will be stamped out by huge presses. As an example of this efficiency, correspondents touring the plant under auspices of the National Association of Manufacturers, were shown a $200,000 milling machine set up to perform simultaneously 10 boring and 10 machine operations in twohour cycles, and save in that time 1000 man hours. Moreover, every operation the machine performs will be identical,

Officials said machines of this kind were a great saving, and that 5/the cost of the $200,000 milling machine would be written off at only $20 a plane, if 10,000 planes were built. Ford has put $40,000,000 into machinery like this, an indication that he intends to make thousands of heavy bombers,

The factory, of 37 acres, adjoins a mile-square airport. The whole area was a soybean field 13 moriths ago. The whole factory is valued at $60,000,000 and its capacity is so great that it will ship sub-assemblies to midwestern plants as well as make parts for planes finished at Willow run.

‘Ground for the plant was broken on April 18, 1941, and Ford got his final contract last August. In February, he sent 250 engineers to

sign. “The bomber program in this country today is equivalent to the entire automobile business in peace time,” C. E. Sorensen, vice president of the Ford Motor Co., said.

“It took us 35 years to get where we are. If there are a few holes as we go along in the airplane business, it doesn’t mean than anything is seriously wrong. There is no serious shortage of material for bombers. The giant Willow Run plant is only one phase of the Ford war program. The company now employs

and Mr. Sorensen estimated that 90 per cent were directly engaged in war work. The others make spare parts, most of which go for war purposes. Mr. Sorensen said that 75 per cent of the 6000 firms which supplied Ford, materials and parts in peace

day, tank engines and new,

California to study methods of de-|

sections and sent to another Midwestern factory for assembly, The largest airplane factory in the United States, and probably the largesé in the world, is almost ready for all-out production.

time was getting a share of =

company’s war contraets,

Other Ford war products include tanks, the first of which soon will come off the assembly line, fire cone trol instruments, combat vehicles, gun mounts, hundreds of jeeps a giant, Pratt and Whitney airplane moe tors, of which the 2000th was coms pl recently. en Ford’s war program is in full swing, it will be twice as big as his $1,000,000,000 a year auto mobile business,

DAILY PRICE INDEX

NEW YORK, May 21 (U, P)e= Dun & Bradstreet’s daily weighted price index of 30 basic commodities, compiled for United Press (1930-33 average equals 100): Yesterday 0000000000000 00000 157.28 Week ago 0000 00OCONIOINIRIINIRS 157.49 Month ago S000 00000000000 157.20 Year ago “00sec cesecatocanes 135.09 1942 high (May 9 escesssenes 158.34 1942 low (Jan. 2)....cceece.s 151.54

INSURANCE on Personal Property «os @ single inousance policy

that protects you from thee common hazards: !

ol hl DEALERS

AGENCY, IN(

IEE, 2A y

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Today, essential travel is increasing. That's why THE

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paper came out | started to have callers and betore the three days after the ad appeared | had sold everything and | was more than pleased to get such quick results. | can always depend on The Indianapolis Times for quick results. Surety and Satisfaction are guaranteed from an Indianapolis Times Want Ad. Mrs. S. Eppihimer 1902 Orange St.

Real Estate Department has been instrumental in the vurchase and sale of desirable homes and business properties. for citizens of this community. WHETHER YOU WISH TO BUY OR SELL, MAY WE HAVE THE OPPORTUNITY OF SERVING YOU?

Real Estate Department

THE UNION TRUST COMPANY

OF INDIANAPOLIS £4 ‘Branch, 1225 Kentucky, Ave.

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