Indianapolis Times, Indianapolis, Marion County, 27 July 1942 — Page 14
GE 14
USINESS |
"New Farm
Industrial Uses Loom For Products Hunting Market
By E————— By ROGER BUDROW IT WAS MENTIONED HERE THE OTHER DAY that
farm leaders believe the future for farm products is not in : Bersuading people to eat more or trying to trade off our
stuffs on countries that
grow their own but rather in
trying to turn farm products into industrial products. That is a major reason for the farm bloc’s fight to get the WPB ‘to make more synthetic rubber from grain, instead of
petroleum.
. The lowly soybean is sufficient proof of the argument. If soybeans ‘were used only for food, you © wouldn't find 1,771,000 acres of In- _ @iana farmland planted in soybeans : as is the case today. The soybean is turned into a multitude of industrial products that need no repeating here. Now it is being tested as a source of paint, varnish, enamel and something that has some qualities of rubber. It also yields a protein which may substitute for the milk protein which goes into casein. The government is watching the sweet potato, wondering if the starches from its roots could substifute for once-imported starches. Some day sweet potato starch may be used for sizing in textiles, muci‘lage on stamps and envelopes. Cotton linters, the fine fuzz that sticks to the seed. in'ginning, are used in making high explosives. Soybean oil is substituting for fats and oil once imported from the Far East in vegetable shortening, oleo . and soap. It goes into linoleum and oil cloth. They are trying to grow the tung tree in this country because we are unable to import Chinese tung oil anymore. It is not doing so well yet but some day, with our better refining equipment, it may yield a product superior in quality to the Chinese tung oil. _ Private industry is interested also. The other day there were pictures in the paper of Dr, George Washington Carver, famed Negro scientist. from the south, visiting with Henry Ford. Both are greatly interested in turning soil crops into manufactured articles.
STORES in Ft. Wayne and Michfgan City lead the state in their sales gains over a year ago, commerce department figures show. In the first six months of this year, both cities showed a 16 per cent gain in retail sales over the same period last year. South Bend was next with 14 per cent. Indianapolis stores sales this half-year were 2 per cent over last half-year while Marion stores fared worst of all (among the larger cities) with total sales below (less than 0.5 per cent) last year. For the month of June alone, best gains were shown by the grocery, clothing, fuel and ice business, in that order, while biggest losses— due to war conversion—were suf- . fered by the automobile and household appliance dealers. n ” n
ONE MANUFACTORER here expects to close up about the middle of September because of the ban on civilian products. But he wants to keep the fact mum a : while yet so his best workers won’t leave Him stranded in the meantime by getting jobs elsewhere. ” ” ”
_BEVERAL BANKS in the state are reducing their interest rates on savings accounts and time certificates. Two in Tell City and one at Cannelton reduced their rates "on savings to 1 per cent. Rates on _ gix months’ certificates of depost _ were cut to 1 per cent, 12 months’ . gertificatées to 1% per cent. An Attica bank cut interest rates on both savings accounts and time certificates to 1 per cent. Two banks at Angola sliced their rates to 1 ‘per cent. Indianapolis banks are still paying 1% per cent on sav-
Roger Budrow
i ings, the rate in effect here since
December of 1938. Before then they "were paying 2 per cent. In 1934 the rate was 3 per cent. Whether or not they continue the 1% per cent rate depends on how
! much their taxes and their regular "expenses increase and whether or
not they can lend enough money to earn a profit large enough to warrant the present 1% per cent rate. ” ” ”
ODDS AND ENDS: War Damage Corp., the government agency that backs up the bomb insurance being - sold, won’t tell how much has been gold. One reason is it sells so fast
= (in some areas) that reports lag
way behind actual sales. . . . Where ~ some of the good war wages are . going: In May $8,000,000 of farm eredit mortgages were paid off, $17,- . 000,000 in HOLC loans paid up, ~ $800,000,000 in war bonds sold, $22,000,000 deposited in banks and loan associations. . . All of the agriculture department’s war production food goals are being met excepting peanuts. The OPA price ceiling order has been translated into 13 languages. . Army . shoes, because of the leather shipping shortage, will have composition soles.
Incorporations
‘American Associates, Inc., 1405 W. 21st Indianapolis; no capital stock; civic Chester E. 8tephenson, versal Metal Products, Inc., 333 N. nly lvania st. Indianapolis; agent, H. nt White, same address; 1000 shares of r value; to manufacture machines, 8, vehicles, etc.; H. Brent White, EB. Paine, Robert D. Afinstrong. perican Legion A ary, Inc., De] ti Tndishe, Unit to Reginald Fisher | 807 Eastern ave., Connersville; ea) a Mabel oc. Wainwright, e oo Mrs. Luetta Williams others. Workmen's Circle Culture Lyceum, Inc., ‘Sibley st.,, Hammond; no capital stock; . educational and fraternal; Ben tz, Philip Resnick, Philip Schneider. blic Aviation gor, Delaware Cor1 change of nt to Mundy I
part-
LABOR POLICY IS SHAPING UP
Maintenance of Membership May Set Pattern for
Duration of War.
By JOHN W. LOVE Times Special Writer WASHINGTON, July 27.—Under the rather cumbersome phrase “maintenance of membership,” a policy has now been evolved by the national war labor board - which some of its members think will set the pattern for American industry for the rest of the war. Under this policy, which may i come a general industrial custom, workmen who. elect to belong to unions will have to remain members as long as the union-employer agreements run, if they expect to hold their jobs. Whether they will be able to resign later on, when the agreements expire, will have to be decided at that time.
country since some of the colonial governments were giving established churches certain rights of compulsion, freedom of continuing choice is being taken from individuals as to whether they will belong to otherwise voluntary and private associations. Whether the board’s award of a wage increase in the Little Steel case will become a similar pattern for industry in general is less clear in members’ minds. In ga little-
that case, employer members for a national “control body” to stabilize all wages, not only in trades in which disputes exist but throughout industry. ,
Fear Competitive Bidding There are board members who
suspect that competitive bidding
for workmen in cities where shortages exist will continue to lift the wage level despite any controls which are set up merely to fix union wages. Whether the President’s proposals for preventing inflation in the wage structure will get around to these “supply-demand” situations remains to be seen. The
mentioned as one such hot competitive spot. Following the insistence of employer members of the WLB, the new pattern of labor relations gives workmen a short period in which to make up their minds whether they will remain in the unions. This is known in the board as the ‘“escape clause.” Whén the maintenance plan was being evolved in the early activity of the board the workmen were not. given this choéice, but the opportunity for them to make it grew out of the circumstances in which the award in the federal shipbuilding case was announced. At that time Chairman William H. Davis announced in a press conference that as of the date the agreement
sequently—those men who were on the union rolls had to stay there. Thus one of the precedents was made from which the new structure of policy has been built.
Rubber Case a Precedent
In the latest agreement, the one handed down in the United States Rubber Co. case the precedent was clinched. This case got little or no attention in the newspapers. Though the company and the union, the latter the United Rubber Workers, |§; were found to have had good relations for a number of years, the maintenance or “union security” clause was put in anyway.
There has never been a succinct statement of why the maintenance clause has been made a part of the board’s policy. In the latest case the panel recommendation alluded only to “wartime conditions” and to the unions’ “facing a difficult period.” : May ‘Weaken Unions
' What these difficulties are may be suspected from statements by union officers in hearings. If the board clearly sets wage policies and these become general in industry, so much so that every workman knows in advance what his union will get if it comes to Washington with its de-
centives to union membership is in danger of being removed. Deprived of income enough to pay salaries, the union itself might wither--“through no fault of its own,” as one of the panel recommendations put it. A few bricks remain to be laid up in the WLB’s policy wall. The board has made no decisions in cases of unions having high dues. Nor has the board had to rule in cases where unions have by-laws which restrain production. It is admitted in some quarters on the board that a scandalous condition could arise if this government agency ordered men to remain in a union which held down apprenticeships.
LOCAL PRODUCE
Heavy breed hens, full-feathered, 18c; horn Jiens, 15¢. roilers, 2 wor and over; colored, 18c; white and barred rock, 19c; cocks, 1ic. Springers, 3 lbs. and over: colored, 2ic; barred and white rock, 2 All No. 2 pouluy 3 Ty less. Eggs—Current receipts 54 Ds, and up, 27%c. Graded
noticed section of the opinion in|g
San Frangisco shipbuilding area is Coo.
was signed—which was to be sub- 1
mands, then one of the main in-|i%
HOG PRICES OFF 1070 15 GENTS
Top Paid Here Is $14.45; 7875 Porkers Arrive; Vealers Steady.
Hog prices fell 10 to 15 cents at the Indianapolis stockyards today, putting them 50 to 856 cents below Friday's quotations, according to the agricultural marketing administration. : 5 Most of the hogs over 160 pounds were off 10 cents today while lighter weights and sows were down 15 cents from Saturday. The top was $1445. Vealers were steady with a $15 top. Receipts included 1600 cattle, 600 calvese, 7875 hogs and 1175 sheep.
HOGS (7875) Good to Choice— 15 ree savvy 3.85 5m "agus
0 240- 270 pounds 0- 300 unds . 300- 330 pounds 330- 360 i peungs
Medium
Packing Sows Good and CHONG 270- 300 unds
pounds POUNdS ..esesvecece 13. 15@13. .35 unds Da
3 N31 26 [email protected]
Medium— 250- 550 pounds
Slaughter Pigs Medium and Good— 90- 120 pounds CATTLE (1600) Slaughter Cattle & Calves Steers
Choice— 700- 900 pounds ..... 900-1100 pounds 1100-1300 pounds 1300-1500 pounds Good— 700- 900 900-1100 1100-1300 1300-1500
se.00000cs00e
[email protected] 13.50@ 14.25
1350g1428 [email protected]
[email protected] [email protected]
“essences sevesrsensvss sess sssscces
Thus for the first time in this|Medium—
700-1100 pounds 1100-1300 pounds Common— 700-1100 pounds
Choice— - 800 pounds 800-1000 pounds Good— 600- 800 pounds 800-1000 pounds Medium— 500- 900 pounds Common— 500- 900 pounds Cows (all weights) [email protected] . [email protected] 7.95@ 9.25 6.25@ 17.75 Bulls (all weights) (Yearlings Excluded)
330a10 [email protected]
cssevsceones
ese0seen ane
158135 [email protected]| Am . [email protected]
Cutter 1 and common
[email protected] [email protected] [email protected]
8.15@ 9.50 CALVES (600)
Vealers (all weights) Good and choice Common fad medium Cull (75 up) . 12: 00 Feeder ‘a “Stocker ‘Cattle ‘& Calves Steers
seseses [email protected]| cesesssesss [email protected]
Choice— 00- 800 pounds 800- 1050 pounds . Good—
500- 800 pounds tiesssssssnss 11.8 800-1050 pounds ....eccccess
Medium: 500-1000 )_pounds eseesesvanee
[email protected] [email protected]
mmon 6500- 900 1 pounds [email protected] Calves (Steers) Good and Choice— 500 pounds down [email protected] edium—
500 pounds down ............ [email protected] Calves (heifers) Good and Choice—= : 500 pounds down . .......... [email protected] Medium— 500 pounds down.. [email protected] SHEEP AND ‘LAMBS (1175)
Ewes (shorn)
Good and choice.............. $ 5.000 5.50 Common and choice 4.00@ 5.
Spring Lambs Good and choice Medium and good
.. [email protected] Common
Hogs—Receipts, i ,000; Sagrkel very uneven; mostly 25 35 cents lower than Friday's average; Wo. 0 to 40 cents lower; bulk good and choice 180-240 lbs., ; Bulk A030
$14 ; few 3.50 upwards, with hi good Cattle—Receipts, 00 400; calves, receipts, 1000; very liberal fed steers and yearlings here; Toad broad, however, and market L mostly steady and fairly active, instances shade lower on medium to good grades, HH full Sea ady on choice cattle; early Fi. $15.65 on prime 1350-1b. aver, ages held higher; several loads, $15@15. 35, With best i ; heifer yearlings, $14.25; bulk heifers steady, cows an weighty sausage bulls, stea ady; Jight and
medium_weight bulls, "10 t, er, vealers, steady "at $15 down; More active trade on very moderate su plies southwest stock calves, mainly $1201 3.35; very few grass steers, hence Stosker supplies are unseasonally, very small. ShetpoRaece! ts, 1000; lamb a weak to cents lower, quality considered; Ie good and choice native springers, $13.75@14. 3 common and medium grades, [email protected]; ve Jeatlings, $10.26 11.50; fat ewes, $4.7
OTHER LIVESTOCK
(U. P.). ., $14.30; bs., $14.25; $14. 240-260 1bs., $14.30; $s: 95: 280-300 lbs., $13.25: lbs., $13.75; 350-400 1bs., $183. 65; 1bs., 0; 140-150 1bs., $13.55 lbs., $13.30; 100-130 lbs., $13.05. Roughs, $12.75; sta ags, $11; calves, $14.50;
lambs, $13; yearlings, ss@11; ewes, $5 down.
AYNE, 27 10 ce Ly lower; 230-340 1bs. 1bs., $14.20; 180-200
S., 1bs.,
CINCINNATI, July 27 (U. P.).—Hogs— Receipts salable, 3000; total 3100; weights “ 3 lower; lighter 25¢ lower; all sompsred with Friday; day's top, $14.35 for good and choice 180-225 lbs. Preighte; 225-250 1lbs., $14.25; 250-275 mes $14.05; 275-300 lbs., $13.90; 300-400 lb., $13.65; 160180 ® $14, 25; lighter weights off 25c for op We f-Ib. decrease in weight; good sows, Cattle “receipts salable, 900; total, 1050. Calves—Receipts sala ble and’ total, 500; active, higher on steers and heifers. Spots fully 25¢ hi gher; to choice 1287-1b. good to §hoice heifers, $13. 50; other Jonds and odd lots of good yearling steers any halters, ji13013; 25, common and medium kind, [email protected]; canners and cutters, downward ol $8.25; common and medium cows around steady, $7.50@8. Li ew 3% cows, [email protected]; outs to $9.50; canners and cutters. $5.50@". bulls fully steady with top gosd we! er sausage kind, $11.40; most good bulls, i @11.40; common and medium kind, to § 20 25: veal calf trade slsasy. top, S15: ood and choice, [email protected]; gomnon and Ei [email protected]; culls, $9.50 dow Sheep—Receipts salable and Sora 1200; spring lamb trade opening steady at $13. down; good and choce grades mostly 613 @13.50;, common and medim springers, [email protected]; culls, downward to $7; most fat slaughter ewes, $5.50 down.
DAILY PRICE INDEX NEW YORK, July 27 (U. P.), — Dun & Bradstreet’s daily weighted price index of 30 basic commodities, compiled for United Press. (1930-32 average equals 100): Friday SE visas hashes Week a0 ....covuseesssacees Month 880 ...cccoececcsncces Year ago ess Eee. 1942 High (May 9) ..:.cc.... 1942 Low (Jan. 2)
.
157.61 156.11 155.32 142.00 158.34 .. 151.54
Pennsylvania-Dixie Cement Corp.
June 30 net profit $1,112,575
i [email protected] Alb &
5 | Atlas &
5.00 Spain Belt
Ww ——— h Gt W R; CHICAGO LIVESTOCK [ci raw’
low- Co
good | Fi steers; $i, Th: py £44 od- |
and subsidiaries 12 months ended !
Times Special DETROIT, July 27—Brother, are you a Sunday driver emeritus? Have you got those “no-auto blues”? Then maybe it will ease them to contemplate motoring’s
ture—as visualized by George W. Walker, noted automotive designer. He has sketched out many models of the “car of the future,” but the crystal-topped, beetlish~ looking buggy shown here is typical. It is Walker's opinion that, when peacetime car production is resumed, your present model will be as outmoded as great-grand-pa’s high-wheeled bicycle. If the war isn’t too long and national economy isn’t too seriously disrupted, Walker says, the auto industry will probably swing into production of 1942 models, dies and tools for which have been retained But if the conflict is drawn out and Americans’ pocketbooks flattened as a result, Walker predicts a new, lighter,
purse. And he not only predicts it, he is designing it. Here are some of the post-war car’s revolutionary features: A small, light, compact engine, using 100-octane gasoline and
THE INDIANAPOLIS TIMES
Noted Designer Predicts |
cheaper vehicle to fit a lighter °
bright and shiny (post-war) fu- i
$400 Plastic Post-War Auto, A Crystal-Topped Be atle-Like Bus for Slim Pocketbooks
& rial,
The beetle-like shape of this sketch of one pf George W. Walker's post-war cars makes it cfficult to tell fore from aft, but the license plate end (right) is the f:pnt of the car. The motor is mounted in the
rear. Like most of his
1; dels, this one has a transparent plastic top,
with the body panels of ther plastics.
Ar and is enthusiastic about its possibilities. For one thing, he says, tests have proved that plastic body panels have an impact strength 10 times that of steel. Plastic material is much lighter than steel, hence will make a car cheaper to operate. It insulates against noise better * than steel, hence quieter running, It also has heat-insulating properties which keep heat either in or out of a car’s interior. For inveterate fender-scratch-ers, Walker brings the encouraging word that colors may be molded right into plastic mateeliminating the need of painting, and the danger of fading or chipping. As for the transparent top on the car of the future, Walker says you will have all the advantages of a convertible, with-
housed in the rear of the chassis. A plastic-paneled body: mounted on a tubular steel frime. The top, incidentally, can is ‘made of transparent, crystal-cles material such as is now used in the noses of army bonibe A wheel base of 105 i 15 to 20 inches shorter th ian current models.
Wheels 13 inches in diameter
rather than 16, to help conserve’
the synthetic rubber supply. An overall weight of about 1200 pounds—which is 1500 to 2000 ‘pounds lighter than present-day autos. A price tag of $300 to $400. Walker is a pioneer in the use of plastic material for automobile
out the danger of being rained on. Not only that, but plastic domes will make for a healthier nation Here’s how: Certain clear plastics admit the vitamin-packed ultra-violet rays of sunlight and at the same time exclude the scorching infra-red. So what do you ‘get? A fine, healthy tan with no sunborn. Peace—it's going to be wonderful.
NEW
YORK STOCK QUOTATIONS
High Low : == Ae Abbott Lab ... 46% Adams Ex p.... 6 Addressograph. 13% Air Reduc .... 32 2% 4%
Alaska Juneau . Susq -- 41 vs 0 ww P ot XW . 4% Allie Mills ... 13 Allied Stores .. : Allis-Chal ..... Amerada Pet . 53% 35%
Am Airlines ... Am Bk Note pf 45 C 64
46Y2 Ys 12
Am Vh C pf.107 Am Distill Co . Am F Pwr. Am Home Pr . Am Loco Am Ca & Fdy.. Am Ma & Met. Am News «v... Am Pwr & Lt.. Am P&L 6 pt. Am Roll Mill . Am Roll M cv Am a
yr Ton B ein Am-Viscose .... Am Water W . Anaconda’ ... . APW Paper ... Arch-Dan-M ... Armour Del pf. 109 Ar Yioom 4Ye Atchiso! Atenison oh Atl C
{HEEL
Atlas Tack..... ‘Aviation Crp...
Bald Loco ct...
Ben wimpy Beth Stee!
Beth Stl i pf.. Boeing Air Ami
0| Bon
Borden Borg-Warner Bdgpt Brass. . Briggs Mfg 19 Briggs & Strat 28% Bucyrus E 7 pf.105% Budd Mfg pf.. 5134 Bullard 11% Burroughs .. Bush B pf.. Butler Bros wi Byers pf 2% Byron Jackson. 132
wills 6%
ati
Calumet & B. Can Pacific.. lanese
C Certain-td. 6
- 1
Col Pictures’ Com Inv Tr,. Com Solvents . Comwlth & So. Comw Edison: . Cong-Nairn Cons Alrcraft . Cons Cig pr pf. Cons Edison . 9% Cons Laundries 1% Cons Oil Cons Coal pf . Container Cont Bak pf .. nt Can
pil HE HEE
Crown Zeller of 82 b-Am 6Ys Curtis Pub 111-1 6
oath Pub £13 Curt Ey 4 » 6%-
Deere & Co....
RE
. » i . FREES ® 3
ChE
Du Pont pf ...124
— East ape Lines. 23% Bast Kodak Elec Ea L 1 Elec Music Ind 1% Elec St Bat 32 Eng P B 5.50 ‘pt 46 Erie 6% Erie ct Erie pf A
124
I++] + »
Ferro Enamel.. d Phen
ot Freept Sulphur. 350
iit +:
33%
re
27 meFes ws
La
DLE HEL EEE «Ia.
+: | +: te.
pf. 26% 25% sore
98% .
na 5 pf ... y «14
Han Harb. Walk H M:
Homestake .... Houd-Her B .. Hud & Man pt Hud & M Hud Ba M £ 8 18% Hupp Motor ,.
bl Ap ol oh]
%
Ys
Ti Central cent pf 18%
“ee
6% 15% 7
a
DOW-JONES STOCK AVE
o Month Ago ....
30 INDUSTRIALS Saturday Week Ago
Year Ago i High, 1942, 114.22; low, 92.92. High, 1941, 133.59; low, 106. 8 20 RAILROADS | Saturday Week Ago Month Ago Year Ago ! High, 1942, 29.01; low, 20.51. High, 1941, 30.88; low, 24.35. 15 UTILITIES |
8| Year Ago
High, 1942, 14.94; low, 10.53. | High, 1941, 20.65; low, 13.51.
~ By UNITED PRESS RAGES +0.16 +0.29
+0.50 +1.36
48 Rustless ’ 1&8tl:
High Low —R— . . 3 547s 2% 17% 13 8Ya 645% 14% 72 55%, 24
is Pat Repub Stl BIA 12 Robere 54 Bg 58% Reyn Tob .. 24 Ritter Co Ruberoid 8Y 8%
Safeway 8t Jos Lead... StL Sow Savage Arms. Schenley 2 of. 3 Scott Pa Sears Roebuck! 3h Servel Inc Sharon Stl
Shar D.... Silver King ees 14Y
Ct
tH
|
High I A Int Nickel .... Int Paper ... Int Paper pt . Int Salt
T&T 2% Island Cr Coal 26
coe 20% 20% —K— 4Y2 21 11% 30%
Jones & Lgh
Rn O Sou vine 4% | Kan C Sou pf.. Restored A Kennecott .. Keystone 1. Kinney 5 pf . Kresge SS
+++ HE
C3 of pod BD LS FARA Bt £8 To GR GG Re GB
ew’s Lone Star Cem. Sain Lorillard ‘15% Lorillard x 139% Lou ash. .
- 2d be RE
2at0.en
—M— Mack Tr . 28%, RH 19% rid St Ry prpf 9% Fl %
Marshall Martin (( (Glenn) ) 19% a
iami Cop [ident Pet inn Hny .... Mo-K Tex pf.. Mont Ward ... Morrell Mor & Ess ...
30% 37
Munsingwear .. 14%
Nash Kelv .... 53% N Ch & St L. - 0% Nat Acme .. Nat Biscuit . "14% Nat Bond Share 14
Nat Nat Distillers. | Nat G; Nat
Nat Sup Nat Sup 5% pf 5434 Nat Tea Newberry pf ‘A.109% Newport Ind .. 8% N Y Air Brk... 26% N ¥ Central .. 9% NYC & St L pf 42 N Y Dock .... 4% N Y NH&H pf. Norf & West 102% No Pacific NorthweAirlines’ 10% Norwich Pharm 8%
[41 +++: +
+i
Ohio Oil Oliver Farm Eq 21h Otis Elev 4 Owens om Glass 51
—P—
& T .. 86%
Paramt Pict ... 16% Para Pict 1 pf. 2 Parke Davis ... 24% . 54 70% . 34 20% wo 39% 2
f.... 31 . 41 .. 24% veel 19% wees 39% . 31%, 4% 2
Dl EEE
Poor B Postal Tel pf... Procter & G... 48% JSG...
Pure 3 5 Bt
Purity Bak .... 11%
hy wo
Twin C R T pf 4 p
Ys | Walgreen
Sim Skelly Poi Socony Vacuum 8% easy Greyh L 1%
+41 AEEED swe
Square D td Brands ... Std G&E
a
-Ster] Prod .... 54 stew War ..... Stone & Web
+
L 23% 23%
36 32,
.
CEH
20th Cent-Fox | 20th Cnt-Fox pt Twin Cy R T
FE + :
Und Ell Fish .. 3 Union Carb ... Un Oil Cal ... Un Tank ...... 2 Un Air Lines .. United Corp United Cp pf Drug Fruit
AE
+
oy Alcohol ath
oath Al Realty
Dl]
US Steel pf ... Univ Leaf T.... 52 —y— 35% —W—
Va-Caro 6 pf.. $B% +
Wabash pf 2
4 17%
LOCAL ISSUES
Nominal quotations furnished by loca
24 23% 17% 17%
Dealers. Stocks t RR Stk Yds com elt RR
Bid seeesees S51 cesses 83
hed
r Comwlth Loan 5% pid .
1, | Hook Drug C
4 | Home T&T at Wayne 1% pid 2% Ind Asso Tel 5% ceieses 93% he Aric ror pad = .106 Jat Hydro Elec 7% pfd. Ind 6% pid
L com Indpls Water 5% pfd Indpls Water Class A com.. Lincoln Loan Co $ha% pid.... 83 Lincoln Nat Life Ins com |¥%hd 2a PSL 5%% pid b Serv 6% pid.. N Ind Pub Serv 7% pid.. Progress Laundry com ... Pub Serv of Ind 5% pfd.. Pub Serv of Ind Inc com.
cess
ravens 95%, .. 84
Van Camp Milk com .. Bonds Algers Wins'w w RE 4%s8 .... American Loan 68 5 + 38 American Loan 5s 3 . Cent Newspaper 418 42-51. Ch of C Bldg Co. 4%s 5 Cittoers. Tnd Tel 4%s 61 Consol Fin 50 Crabb-Reynolds-Taylor 82 H T&8 Wayne sis 85. 108 yne 5s 43...
secsese
Kuhner Packing Co 4 Morris 10 Stores 5s 50
b 55 Richmond Water Oks 5s 57. 108 Trac Term Corp 5s *Ex-Dividend.
Net Last Change
Yi Ya |
sere Tae sae #3
- a=
unit of National Association of Se uries
Net Last Change Ya
High Ward Bak A ... Ward Bak A ... Wan Bak pf . Warner Bros .. une Br pf..
West Md West Union ... 26 West Air Bke.. 14% Westing El .... 68
3% . 28% 5%
Ee /4 + 1%
—'21
UTILITY MODELS FOR CIVILIANS?
That" Is ‘What Happens When Britain Concen-
trated Production.
WASHINGTON, July 27 (U. P.. —If Great Britain's experience with the principle of concentrating civil« ian industries is followed, Americans soon may find more and more: essential goods obtainable only in: “utility models.” Two war production board offs cials have arrived in Great Britain to study that country’s “concen tration” program—a principle al ready approved for American industry by WPA Chairman Donald M. Nelson. Under it, a few small plants are selected for essential civilian production of entire industries while the remaining ones are closed or converted to war production. That differs from the past system in this country under which the production of all plants was cut a certain percentage. Mr. Nelson announced last night that Dr. Arthur R. Burns, chief of the WPB's planning branch of the office of civilian supply, and Henry A. Dinegar, chief of cencentration for the office of civilian supply; would spend two weeks making an intensive study of the British system preparatory to putting the
this country. A preview of some of the restric tions ahead for civilians was seen in . Mr. + Nelson's announcement which detailed the British system of concentration and development of “utility models” of consumers’ goods.
\ Started ‘Nucleus’ Idea
White Rock .. 4% Willys Overland 1% Woolworth ... 28% Worth oY pr of 3% Wrigle
: RAILROAD SHARES LEAD STOCKS HIGHER
NEW YORK, July 27 (U, P.)— Stocks moved higher today after narrowly irregular, dull opening. olume increased slightly. Around the end of the third hour, leading issues were fractionally higher. Rails were strong, although the average showed a minor decline because Louisville & Nashville sold ex-dividend $3, which is not considered in computing the average. The latter at 62 was up % taking the dividend into consideration. Santa Fe, Atlantic Coast Line and Texas & Pacific were at new highs for the year and longer. Others made small gains. Railroad equipments were dull. Steel, motor, mercantile, amusement and farm issues made small advances. Loew's equaled its high. Oils were steady to firm. Some aircraft, copper and utility shares had + |small gains. Tobaccos held around the previous close.
GRAIN FUTURES DIP IN LIGHT TRADING
CHICAGO, July 27 (U. PJ. Scattered commission house selling and light hedging eased wheat fu- «| tures in light early dealings on the board of trade today. Other futures
84 | slipped narrowly lower.
At the end of the first hour wheat was 3% to % cent a bushel lower, corn off 3, oats off 1%, rye off %, and soybeans off % to up %. September wheat receded 2 to % cent a bushel below Saturday’s split close, $1.19%@1.19%. September corn was down 3% at 90s, oats off 11% from 50, rye off % from 683, but September soybeans moved ¥% higher to $1.72.
WAGON WHEAT Up to-the close of the Chicago market today, Indianatotls flour mills and grain elevators paid $1.11 per bushel for No. 2 red wheat (other grades on their merits). No. 1 yellow she corn was 82c per bushel and No. 2 white shelled corn, 88c; No. 3 white oats, 42c, and No. 2 red oats, 42c .
Early in 1941, Mr. Nelson said, Britain had reached a stage where the United States has now reached. Straight percentage cuts had been imposed on -a long list of civilian industries, just as they now have been imposed here. But that system proved wasteful in Britain, For example, all the household utensil manufacturers were trying to stay in business even though each one could make only 25 per cent of his normal output. The British worked out the es~ sential civilian and military requirements for each product such as kitchen utensils, the percentages of the pre-war rate ranging from zero for luxuries to 50 per cent for clothing. Then each <industry was asked to concentrate production in
,|“nucleus plants,” located in non-
critical areas, with the proviso that if an industry. failed to work out a plan the government would do so.
Profit Divided
The schemes adopted ranged all the way from those in which the nucleus firms manufactured a vic= tory model, such as the American victory model bicycle, to those in which they manufactured the brand products of the converted firms as well as their own brands. The nucleus firms paid part of their profits to the non-nucleus firms. Mr. Nelson’s representatives are
took another drastic step—stopping altogether production of even the small quotas of a long list of goods. The British also have redesigned all essential goods and has developed what are called “utility models.” For example, 75 per cent of all clothing manufactured now is of utility design, and soon the per=centage will be 100. Hundreds of other products have been rede= sigined similarly.
U. S. STATEMENT
WASHINGTON, July 27 (U. P.).—Gove ernment expenses and receipts for the current fiscal year through July 24 come pared with a year wo
This Yea Last Yi Expenses. . . $3,985,587, 986, 52 $1,265,923 831. 72 War Spend 3, 422, 352, 111.43 723,433 93. Receipts. . 638,031,658.39 Net Def... 3, 347, 311,268.13 934,95 Cash Bal.. 3, 1450, 823,402.87 2, 848, 018,274. 29 Work Bal. 2,688,380,411.81 1, 1897 1807,011.80 Pub. Debt. 80, 807, 712, 903.09 55, 34, 175, 384. 30 Gold Res. 22,746,073,439.12 22, 663,9178,005.07
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“concentration” plan into effect in
rived in London just as the British )