Indianapolis Times, Indianapolis, Marion County, 14 July 1942 — Page 13

.Where They Roll Out .

This is a view of the final assembly building and ‘the hangar where bombers roll off the half-mile long assembly line. More than 70,000 men and Women are employed. Pictures passed by the censor

Indianapolis Business Summary

Last Week Bank Clearings ccceececccccocsces.$34,111,000 Bank Debits ...ccci00000000000000.$94,752,000 Postoffice Receipts REESE NOINBES $83,460 Building Permits cccoccovcosscssoss $58,927 $100,330 $240,841 Houses ...ccooec000000000000000 $14,500 $51,100 $169,150 Apartments 00000000000000000000 0 0 0 0 Business ...cococ000000000000000 0 0 $4,000

At Willow Run, west of Detroit, stands the biggest room in the world, the Ford bomber plant whose Looking down a line of huge presses that stamp out bomber . ions, schedule calls for a bomber an hour when in full production. Here are workers riveting outer wing sections. a process borrowed from auto production.

"DECISION OVER |FINAL STOCK QUOTATIONS YESTERDAY WALL STREET "CLIPPERS NEARS OPINION MIXED

DOW-JONES STOCK AVERAGES Li BY ih Abbott Lab ... wn sta asta —” % | Yesterday LAL in oil Moir Wl «eee 11 Will Steamship Lines and Some Expect Inflation and Railroads- Control Higher Stock Prices; Ocean Flying? Others Disagree.

Week Last Week Before A Year Ago $25,649,000 $27,427,000 $70,785,000 $66,187,000 $105,449 $68,071,000

1941 Thus Far $644,45%,000 $1,599,798,000 $2,537,720

Net

1942 9% Chge Close Change

Thus Far ‘42 vs.’41 $727,618,000. + 12.9 $2,009,595,000 -- 25.8 $2,675,041 4 54 $7,325,040 $4,568,701 — 37.6 $3,410,225 $2,565,005 - — 24.8 $394,000 0 =100.0 $1,005,054 $220,376

High Low

®0ceecssscves

case

| Nabco Is CO.ese

Cp Dp. 7 Allegh ud" stl 3 Allen Indust Allied Chem .. ‘1313 Allied Mills .. 13

A 20 RAILROADS Yesterday ... 25.64 Week AgO.....ccoavveeececcs 2522 0

Nat Acm 1 Nat Aone Fibres Nat Auto Fib pf Nat Tusoult. ic 02 | Nat Bd - Sh

seccccsces

* Week ABO:...civesesccsccesees 105.76 0.32 i EWear .. Sa : Bp 33% 1''%|Month Ago...................1051 -+00|Murphy G C... By CHARLES T. LUCEY Times Special Writer -

Alaska Juneau. 2% 2% ereesss.128.19 0.30 Urray eo... 1 High, 1942, 114.22; Low, 93.92. 4% High, 1941, 133.50; Low, 106.34. 18 WASHINGTON, July 14—A decision of profound importance in . commercial® aviation development,

involving the issue of steamship- a

line control of transocean air lines,

is expected from the civil aeronau-| A tics board soon in the long and bit- 4 terly fought American Export Air- A

lines case.

A Controlled: by the American EXx- 4 port Lines, a steamship company,

American Export Airlines has had an operating certificate since July, 1940, and is now flying commercially between the United States and Foynes, Eire. But while the air line’s operation was found in the public interest, the question of control of this line by another carrier, ““the- steamship company, has never been settled. “* Steamship companiés have shown 4@ growing ‘interest in the air transportation field. There are several

Allied Stores ..

Bank Note. Bk Note pf 44%

Bosch 4Y, Br py pf. 1261 Can 66 op 28%

Car & F pf 60% Distill on

eta 18% P&L 6 pf. 16% Pak 5 pra 147, Am Rad & S 8 4% Am Roll an vv 11 AmRolIM cv pf. 56% m Safe Razor. 6 Am

8% Am Sm 39% Am Smelt (] ot. 142 Am Snu 5 Am Stl dies. 18%, Am Stove .Co .. 10% Am Sugar ..... 17% Am T & T Be | Am Tohacs . Am Job 8 Am Type Be . Am-Viscose Am Water W . Ya Am Wat W 1 pf. "a Am Woolen .... 4% Am Yolen pf. 65

«applications before the CAB upon|am zin

“which the American Export case ay have a bearing. “' The tremendous impetus given iniBernational air ,transport by the «War is seen as presaging a vast ex“pansion of transocean air opera-|A “4ions, in both cargo and passenger “flying, when peace comes. Thus the “stakes are high. *. Just how important may be the ming decision is indicated in the ef filed before the CAB by Pan- : $ American Airways, which has waged “a long fight against American Ex“port's entry into foreign air transport, This. brief commented:

va! A Test Case ",

+ “The board must have in mind Sthat this is a test case. The grantsing of this application would open »the flood gates to a whole series of Ugimilar applications on the part of “railroads and steamship lines. It “is no exaggeration to say that the “decision of this case is likely to de-

31 Armour Del pf. ‘109 Armour Ill .... 3% Armour Ill pr pt 54% Armstrong Ck . 28% Asso Dry Gds .. 5% Atchison 39% Atchison bpf.. Atl C Line Atl Refining. . Atlas Corp.. + 6% Aust Nich pr’ A 19 Aviation Corp.. 3%

Bald Loco ct. Balt & Ohio.. Balt & O pf.. Bangor & Ar.. Barber Asphalt. Barker Bros . Barker Br pf 26% Barnsdall Bath Ir Wks., Bell Aircraft...

: « 10% 3% 5% 4%,

h 55% Beth test 7 pf 107% Blaw-Kno Bliss & Lavighi 12 Boeing ... 16% Bohn Al & Br 30% Borden 20 Sore Warber ve apm Brass.. riggs Mig Briggs & Bristol-My .. Brklyn-M T Bucyrus-Erie

sdermine whether the development Bucyriss

wof the air transportation system of the U. S., both domestic and foreign, is to continue to be left pri®marily to companies devoted ex--#clusively to air line activities or is 3 to be handed over to their more * financially powerful surface rivals. » “The very extent of the potential‘ities of air transportation which the "war has demonstrated makes this

threat of railroad and steamship|cC

domination the more serious. The air transport industry, as we have known it, is only a faint foreshadowing of that which will arise when peace is established.”

Railroads ; Enter 4 The railroads also. are beginning to seek entry into commercial aviation, and several applications for operating rights are pending. An éxaminer’s report—an inter«mediate step on the way to a final

decision—has held against Ameri-|g,

can Export Lines’ control of the air line, and recommended that the CAB order the company to divest itself of the air line, such divestment, however, to wait until after the war. Decision on the control issue, the examiner held, had to rest on two chief" points—that such control _ would provide no monopoly and that +-air. line operation would benefit op“erations of the steamship company. No monopoly was found, the examiner pointing out that a primary consideration was “the desirability of eliminating Pan-American’s exclusive monopoly of trans-Atlantic American-flag air transportation operations.” : No Benefit But the examiner held that no showing had been made that the steamship company’s service and operation would benefit from air line operation, as required by law, and

BurToughs Bush T B pf Butler Bros . Byers A M....

Cal Packing ... 18% Callahan Zinc... 1 Calumet & H.. Campbell Wy Canada Dry Can Pacific .. GaTHiers = Gen.

Caterpillar T.. Celanese Celan 5 pf. Celan 7 pr pf. 16% Celan 2nd pf.. Celotex Cent Foundry.. 1% Cerro de Pasco. 31% Ches &

City Stores ...

Climax Moly, Co 38% Cluett Peab . 321 Coca-Cola .... 80% Colgate-P-P ol & Aik .... 14% Col & So 1 pf. 13% Col & So 2 pf. 1% Col Broadcast A 1% Colum Gas ... 1, Col Gas 6 pf A 351 Col Gas 5 pf. Col Pictures ... in Col Pictures pf 29% Col Carbon ... Com Credit . | 3% Com Cred evpt. 101 Com Inv Tr.... 27¥% Com Solvents 812 Comwlth & . 7-32

Com’th Edison. Cong-Nairn .... id Cons Aircraft... 17% Cons Co; permin 47% Cons Edison .. 3% Cons Edison pt 87194 Cons Film pf . 5 Cons Oil

Container ..... 12 Cont Bak ..... Cont Can Cont-Dia PF Cont Ins .. Cont Mot .. Cont Oil Del ... 233 Cont Steel 17% Copweld Stl Pt, 50 Corn Ex Bnk... 33

Ci 12 Crane Co cv . 20 Cream Wht ..., 16

V2 Cleve El Ilm pf.109% .

. 14% i

Comwlth & Sot Fg

18%, Ya

EHTEL EHTEL

+114: +111

13 0++:

%|Gair Robt pf.. Z|Gen A

7 | Good

> Yesterday ....

A | Year Ago..

A Elec Auto-L . Elec B

Month AgO0....ecoeecovceccees 28.47 « 29.64 23.31. 24.25.

High, High,

1942, 1941,

20.01; Low, 30.88; Low,

15 UTILITIES esesscscenssess 12.00 Week AgO.....co0000000000000 11.81 Month ABO: cceiscssscnccccees 12,10 cesceccscssscceves 18.67 1942, 14.94; Low, 10.58. 1941, 20.65; Low, 13.51.

High, High,

11% 1% 21

11 Florence Stove. 18% Food Mach .... So Foster: Wheel .. 10% Fraent Sulphur. 32% Fruehauf Tr ..

Gair Robt 1% 10 m 36 Baking pt. 114 ane rere BY

Cable A .. 7% Flsckris Lo 27% Foods 2

1% 10

Gen T & hd Gilette 8 R.. Gillette 8 $5 pt Gimbel Bros .., Glidde Goebe] Goodr

Goodrich

Goodyear pf ... Gotham Hos ...

s | Goth Hos pf..

Jewel Tea

Graham-Paige ° Granb Grand Union. . . Graite C Stl... Grant WT .... 2 Gt Nor Ore..

Gréyhound Cp 12% Groyhng 5% pf 114 Grumman Air E 1 Suaht Sug pf air u M & Oh pf 243% wi . 12 . 99% Tee 1%

Hall Print ... Hanna 5 I Harb-Wal Hayes Mfg . Hecker Prod. . Helm

Hupp Motor

Ill Central.... Indian Ref ..... Indpls P&Lt Rayon

a ..o 28% Vi Ingersoll Rand. 83% nd Stl 6

Inla. iy oa Cop 105% Intercon Rub" Int Harvester . Marine. .

eeiee 24 . 58%

Jones & Lgh .. 20% Jones&Lgh pf A 57% Er

Johns-Man

| Kan C Sou .

Kress Kroger G & B. 2674 ) —lr Laclede G ..... 11 10% 132 13% A

Lerner Strs ... L-O-F Glass ...

“ Libby McN & L 4%

Li, & M; . 64%, Lin 3

Belt 1 Ya Lockheed Arcrft 11%

Loew Lone tar Sem. 35% Long Bell A 3 Loose-W Bi |

Low Close chan 27 27

No Pacific NorthwestcAir. 4

02| Nat Can S Nat Cash Reg 1

Nat Disti ers... Nat Gypsum....

Ship . 33 Y | Norf & West. 181% 60

Norf & W pf No Am

SE No Amer 5% pf 45% No Son Avn., 4%

Ohio oy cesiee

Elev 3 83 | Owens i) Glass 51

wir Poninr

Pac Coast 1 PL 19 Pac G&El 1915

ee Patino Mines .. 18% Penney . 68} Dens G1 Sands. 13% RR 20%

4| Pepsi-Cola tae. 22%

3 | Pere Marquette.

H+ ( FES

FIL: +144 +

RENEE

SEE | pry

+ HH je

t Corp Am..

Mo . 2 Phil Morris ot. 100% Phillips Pet 39% hoenix H

s 1% Blymonth Oil .. 32

Press Stl Car. Press Stl 1 g: . 8% Procter & «oo 48%

i al Purity Bar’ oes il

f Reliable. Stores. . Rem Rand .

Republic Stl. 15 Repub Stl pf A 1% Revere Cop . 5% Revere 7-pf .... . 83

% | Revere 5% pf... - 94 Re 1%

yn Met Reyn prin eee 4Y Reyn Tob 35 Reyn Tob B. , S 24% Richfield on eee 1% Ruberoid 8

Safeway ... Safeway 5 pf.

1, |St Jos Lead .

s | Savage Arms ...

Frases ® wa

| REE

oe 12%, .. 16% . 12% 55Y2 1

Schenley Dist . Seab’d Oil . Sears Roebiick

3% es 3% Postal Tel pe... 14%. 143% 6% 6

+13

Ree wes”

th ++ - a

5 any close shaving because

NEW YORK, July 14 (U. ?).— Wall Street is busy trying to calculate the impact of the latest version of the tax bill, attempting to forecast a supplementary tax bill, and arguing over inflation as a market incentive at this time. Traders generally are ° cantious about making commitments cn the basis of a tax bill until the risasure is. close to the finish, Even then, market experts do not anticipate they foresee higher taxes and more of them. "Ability of the list to rise : recently with a considerable volume of adverse war news has led some commentators to state that the market is taking its cues from the domestic situation. Others disagree with this and there you have argument’ number one. A majority of the experts seem to think the market is headed higher. And these, too, find plenty of opponents. ‘Chart experts say there has been a secondary uptrend signal. But, they add, there hasn’t been a real bull market signe], This must be signaled by both the rail

“1 and industrial averages, they assert.

PIE ELH TE meses

| -

sl: 11] : a

SrepEese wee pe we

+11: 11

L0H HHL

Saas

% | Yesterday 4| Year ago ....cecececeseeses. 156.78

Railroad issues still have many friends. One of them predicts a $1 dividend for Southern Pacific and a 50 cent dividend for New York Central this fall. Biggest argument in the street hinges on inflation. Marks: men say fears that prices will get out of control helped. the marke: last week. They point out particularly the trend toward higher wages in many industries and to the farm situation. Opponents of this belief hold that the administration will fight inflation successfully - during the war, but they refuse to ma’ ie | predictions for the post-war ers. There is a growing belief that Washington generally is afraid to combat the price fixers and ceiling mak:rs now in the fear they will have to take the blame for any failure of the price administration’s efforts. Wall Street hears that the inflation factor will be a big iter: in the

tical desire to do nothing to interfere directly at least with inflation control.

DAILY PRICE INDEX NEW YORK, July 14 (U. P.).— Dun & Bradstreet’s daily weighted price index of 30 basic commodities, compiled for United Press (1930-32 average Saal 100): cesresccscscscesce 157.23

%IMonth 280 ......ceeveeeee.. 155.02

Year ago. ........csc00000es+ 140.23

{1942 High (May 9) ....ee... 158.34

1942 Low (Jan. 2) .......... 151.54

High 5% 2% 4%

Low Clogs ine 5% ro 2% i

sess

bE oF

Fh: +1:

ie 53% sum pf.170 Alcohol. 29

+1:

+11: »

Univ Leaf T... 513%

Vadseo pf ..... Vanadium .

. . - oo

ca ik Vultee Aircraft Wabash "

wai Hh Hir-G&W Walworth

+i: LL:

Freight

15 cents.

Industrial

Carloadings:

Outbound

Public .....cooveeeecrcconconces Repairs & Alterations cccecee. Applied for Jobs .........co000000 Received Jobs

Filed Unemployment Claims ccc.

Inbound 000000 00000000000000000 Electricity Output (by kwh) ..... 15,650,000 Water Pumpage (by gallons) ......287,010,000 Streetcar Passengers (July 4) cecoo. Telephones In Use (July 9) cccecss + Livestock Receipts (head) cccccsoes Cattle

Calves ceccococcsosssssoscssccos

000000000000 0000000000000

Hogs 00000000000000000000000000 Sheep cccccccesesscssocccooccos Grain Receipts (bushelS) cccoccoees Corn

Wheat cococccoccsccoccsncoscses

Oats cocooceecscoccssccocscccnes Rye riers h en Ce Herts oh 0 SOYDEANS «ececicorcceracracrese Sources of above figures: Indianapolis

$40,000 $45,000 $500 0 $3,927 $4,230 1,443 1,505 505 1,056 451 288

$41,400 $10,700 $15,591 1,296 506 233

3,819 2,090 15,360,000 303,980,000 1,769,442 +153 46,702 6,124 2,849 34,026. 3,703 312,000 186,000 50,000 102,000 5,000 29,000

3,650 1,784

4,460 2,798 13,755,000 304,730,000 1,117,579 +13 52,685 5,408 3,173 39,961 4,143 1,510,000 618,000 756,000 128,000 2,000 6,000

1,743,133 +160 53,803 6,597 3144 39,954 - 4,108 - 598,000 431,000 76,000 70,000

21,000

Hogs at Stockyards Here

HOGS (9537)

Good to Choice—

©se00000000 0. 313

esee0esesecss

pounc

Secs 0otsocce

pound

pounds 330- 360 i 4

coming elections. Hence the poli- Me BORE iin

Good an 270- 3% 1

Packing Sows

d Choice—

esescevceseess 1

pounds

390-3 30 380 ]

®ecse0cccccoe

pounds

Jeo- 400 Good— 400- 450

Medium—

ORO 700- 900

pounds

pounds 450- 550 pounds

250- 550 pounds ...

Medium and Code 90- 120 poun

eee000000cs0e 1 e00ec0sscnene

seeccsccce

Slaughter Pigs

CATTLE (1528)

Got - 900 po

900-1100 pounc 1100-1300 pound 1300-1500 pound

900-1 100 Pounds 1100-1

13. 13.

NAS .ecoseecscces e800 000000000n 2.

Choice— 600- 800

Good— 600- 800 | 800-1000 Medium— 500- 900

1300-1500 pounds

— YY, | Medium— 700-1100 pounds 1100-1300 pounds

Common— 700-1100 pounds

800-1000 Poundn

12.

es00sp 000000 esce0cene

secsece0senson

pounds

pounds pounds

(all weights)

Bulls (al weights) &earlings . Excluded)

cssenassesreanananensse 11.

CALVES (638)

Yuin (all weights)

13.

3. 13. 13. 13.50@13 3. 13. 13.

12.

13. 13.00

» ha 2 4.60

[email protected] [email protected]

[email protected] ng [email protected]

a1. [email protected] [email protected]

[email protected]

" Slaughter Cattle & Calves Steers

[email protected]

Has 14.75 [email protected] [email protected]

[email protected] 3.50

12. 881 50 [email protected]

[email protected] « 11.

[email protected]

teeseces ests steseses 11g] Medium - 3 8.38 Cutter and common..........

13.75}.

[email protected] . [email protected]

[email protected] [email protected]

Lighter hogs were unchanged from yesterday at the Indianapo) stockyards today but heavier weights were off 5 to 15 cents, the agricultural marketing administration reported, Weights under 230 pounds were steady; those between 230 and 250 pounds were 5 cents lower, and those over 250 pounds were - down

The top was $14.75 for good to choice 220 to 230-pounders. Receipts included 7500 hogs, 1900 cattle, 600 calves and 1000 sheep.

Good— 500- 800 pounds ...coceccesse 200-208 Ds 0000 c000000e Mediu 500-1000 pounds ..cecceccoses Common— §00- 900 pounds ..

[email protected] [email protected]

Calves (Steers)

80 a3 Good and Choice—

500 pounds down........ Medium— 500 pounds down Calves (heifers) Good and Choice— 500 pounds down..........

«oe. [email protected] [email protected]

. [email protected] edium— 800 pounds down SHEEP AND LAMBS (854)

Ewes (shorn)

Good and choice..............$ 5.00@ 5.50 Common and choice .:........ 4.00@ 5.00

Spring Lambs

Closely sorted .....ceoccccees 15.25 Good and choice cesvseccssccee 14.25 Medatith and good ...cece.s... 12.25 Comm escessse. 10.00

BRITAIN MAY CUT LEND-LEASE DEBIT

LONDON, July 14.— Britain's credit side on the lease-lend ledger will soon greatly . be increased if present plans under discusison are executed.

15.50

14.00 12.25

of thousands of American troops hds offered the first big opportunity | Bo to cancel some of ‘Britain's debit

The presence in the British Isles |Dealer

—- 781 - 17.1 — 928 — 403 + 213 + 233 + 551

$1,696,700 $1,407,140 $226,200 $16,300 $592,861. $353,717 29,425 37,452 14,692 18,114 8,081 12,533

111,243 69,444 406,761,000 7,051,870,000 45,687,010 , 115,868 1,515,898 171,077 80,409 1,131,978 132,401 15,964,200 © 11,692,500 644,000 3,012,200 181,000 429,500

113,066 70,060 359,004,000 ° 6,432,530,000 85,463,753 105,534 1,526,113 153,508 79,979 1,178,027 123,599 17,875,800 13,041,500 1,709,600 2,394,400 154,000 378,500

- 18 — 09 + 13.3 + 98 + 288 + 98 - 07 + 114 + 05 — 39 + 1 - 97 — 103 — 623 + 258 + 115 + 135

Clearing House Association, Indianapolis Postoffice, City Building Commissioner, Indianapolis Office of State Employment Security Division, Pennsylvania Railroad, New York Central, Baltimore & Ohie, Illinois Central, Chicago, Indianapolis and Louisville (Monon); New York, Chicago & St. Louis (Nickel Plate); Indianapolis Water > _Co., Indianapolis Railways, Indiana Bell Telephone Co., Agriculture Marketing Service, Indianapolis Board of Trade, Cen. ter Township Trustee, Federal Reserve Bank at Chicago, Indianapolis Power & Light Co.

Prices Reduced on Heavy

SAN ANTONID BUYS ITS PUBLIC UTILITY

NEW YORK, July 14 (U, P.).— The city of San Antonio has agreed

to purchase the San Antonio Publis Service Co., a subsidiary of Amere ican Light & Traction, for approxi= mately $35,000,000, it was learned today. This agreement, concluding one of the largest public power owners ship deals since acquisition of utilie ties in the southeast by the TVA, was signed in Chicago last ‘Saturday by Mayor C. K. Quin of San Antonio and W. G. Woolfolk, president of American Light & Traction. The city of San Antonio will fie nance the purchase through the sale of between $34,000,000 and $35,= 000,000 in revenue bonds, using the proceeds to purchase the 83,000 out standing shares of San Antonio common stock for $10,000,000 and to redeem preferred, stock, serial

‘| debentures and first mortgage bonds

of the company. San Antonio Public Service curs rently has outstanding about $16,

14.501500,000 in ‘bonds, $1,300,000 in serial

debentures and $4,500,000 in prine cipal amount of $6 preferred stock. The company serves electric light and power, without competition, to San Antonio and 90 other communi= ties in surrounding territory. Its sale to the city marks another step in the liquidation of American Light & Traction, an intermediate holde ing company in the United Light & Power Co. group.

- LOCAL ISSUES

Monday, July 18

Nominal quotations furnished by local unit of Nations] Association of le

Son * Bid ‘Ask Belt RR Stk Yds sesesess BL t RR Six Yds Pra:

eseccess 53

Cirele eater ci Comwlth os 5% pfd

account in the lease<lend ledger. |Hook

The fact that the shipping position is acute has made it necessary to|1

g|review the entire position and to|in

seek here the materials which might |}

otherwise have been shipped from ih wie Co

the United States. The building of & big base hos-

Fo eesrer Es sere #3 2% nna

seeds «[email protected] . - 1900 13.50

fi: be

Grosiey Corp ... 6% Growl ze) Zeller .. 10% Curtis "Pubs. . ig Curt Pub pr pL. 13% Curtiss-Wr .. Curtiss-Wr ‘A... 15% Cutler-Ham ....

Lor iiare pt ... ‘1385

. . oe . “. . 0.

on this point recommended CAB rejection of the American Export application, American Export has countered this report with a brief hand oral argument. Applications for air line operations have been filed recently by Agwilines, Inc.,, parent company of the Clyde-Mallory line, and the Co., Mobile. p line, which |Dom Lh South American Dos 22 a1

ceo 183%, west Auto Sup. 15%

2% West br 2 pt.. 5% West Union ... 24% Bke... 15%

Steers.

even eeees 12.

Be os ' 800-1050 a $0e000000000s 12.00 1350

: 19¢c; vere varred BY ne 2c; cooks, ile.

se hgers. 3 1s. and over, : sulren, gue) All NO ory 3 cents Joss. FiaS-Cutrent receipts: 54 Ibs. and w, dd Sonade A, Janes

West Air

Taps wee #2 sae

& EL BER REE ERE

1: +11

Decca Rec Inc Deere si

+e +d | ++:

Wheel Stl t i ait pr Pp n White Mot ; White Se w M.. i Willys id 1% Willys Overld pt 6 Wilson & Co.

EER es EE waar ss x EEEEEEE DHL IRL 4: +] RET L

Du Font pt ..123

++: +:

4 1

SiH: