Indianapolis Times, Indianapolis, Marion County, 19 August 1942 — Page 6
{DEFERS’ WORK ON GARY PLANT
“Action May Mean Final
Cancellation of Project To Produce Rubber.
Times Special : WASHINGTON, Aug, 19.—On recommendation of the war production board, the Defense Plant Corp. has “deferred” continuation of a contract with Stone & Webster for construction of a synthetic ‘rubber plant at Gary, Ind, to cost about $50,000,000. - “Deferred,” - according to one source at WPB, will probably mean? final ‘ cancellation. The plant was originally intended to produce annually about. 100,000 tons of butadiene. That much butadiene would result in about 120,000 tons of synthetic rubber.
Still See Rubber Goal But, according to WPB, the “deferment” of the Gary project will not mean that the government goal 70,000 tons of synthetic rubber a will not be attained. Instead e prospective output of the plant, the government, acing to this same WPB source, expects to get as much or more butadiene from other sources al at less cost. In another quarter, high costs of " the projected Gary plant were given as the reason for deferment of the contract.
Rubber Study Unaffected
The plant, being built under Supervision of the DPC, was to have n operated by Standard of InBana and, Cities Service. 'At the WPB, it was said the recendation to defer construction no connection whatever with over-all rubber study being made by the Baruch committee. At least one Indianian in the government here, advised of the stoppage of work on ‘the Gary project, wonderéd how the WPB and the DPC could attain the goal of 870,000 tons of synthetic rubber 8 year while cutting off a plant intended to produce more than one-eighth of the amount.
If you can manufacture any of these materials, contact the war production board, 10th floor, Circle Tower building, Indianapolis. Asterisk indicates plans and specifications are on file there.
BIDS WANTED
ARMY MISCELLANEOUS Invitation Item Number
Class 46 § for the Retiod Aug. 15, Class 3% Bip. 4—Repair 88 up. pai nance of IPeWr ot for the period June 1, 1942, to Jans Neg. ont
suns ssesheves vue gabe at 30350s6P8- Softwood lumber, southern : common, air dry; 21
Date Ba Close
up. 1—Woodworking saws 1942, to Neg. Cont.
* logust; round or 11 He as sound live Shows decay 21 ass 5T7—R! m, preparations for the Jeijod ad 1 to June 30,
58-S5—Knives, scraping; type V, 3inch width of blade 2359 oS Frames, hack saw; jy 25 justatie e B; pistol-grip han 2 water close, regular a black composition, for elonbowl, without 2361° ES HatmacTs, handled; js Ball-Peen; type id
26279-SP7—8Signal lamps .. - 26281-SP5—Gas flow meter 26232-SP3—Lime, chlorinated, U. sealed containers; oxalic ‘acid, technical grade 24 83-SP1-—Bedspreads, crinkle; bleached white, size 63x90 inches 86284-SP2—Napkins, paper, white, basic weight 480 sheets, '24x36 inches 26285-SP7—Sound recorders. . 24 26286-SP5—Pump, vacuum; cenco-hyper-vac 20; motor driven 26287-SP6—Boxes, wood, mouse cage.. 26288-SP2—Paper, transcript; in 15 to 16 inches in diameter 2326-86—Casters, furniture; wood chair. 25 2363-83—Naphthalene, flakes and balls.. 35 2364-810—Machines, numbering; type; 7 wheels ~ 86289-SPT—Sound = amplifier; and associated equipment, complete with speakers and microphones 25 $6201-SP6—Cages and Stand, for rats; opis to consist of stand and 24 25 25
‘Slats
lever 2
; 96292-8P5 Pressure measuring set 36293-SP7—Police radio receiving sets, short wave northern white pine (pins ey or Wester white pine (pinus monticola). No. : common; rough; air dried; 5-4 oo —68 to 12 in. widths 2 « §6206-SP6—Softwood lumber sheathing: Southern pine andfor Douglas Fir and/or Hemlock No. 2 common; air-
ry 2 aero High. speed stcs twist, straight shank eed Be208- P5—Peeble pr 00-SP2—Covers, tray, em- , bossed all Sven; with Dh decs J orative bord Fuel oft and Jerosene, TeEion ‘ tank wagon and : gram Senve es—Tank car and trans; ~trucl deliveries in Res og Mexi Xas,
Oklahoma and Sept.
Class 53, Bn 3-Stail for jhe period Dec.’ 1, 1943, to No. 30,
1943....... 2 ; 97—Stnies” Ral $e; . X= -a5—Twine: hy Cotton. - seine;
DAILY PRICE INDEX NEW YORK, Aug. 18 (U, P).— Dun & Bradstreet's daily weighted price index of 30 basic commoditls, compiled for United Press (1930-32 average equals 100): é Yesterday S00 seoRReescnRer 157.11 ‘Week Ago seee0essssccentsee 157.43 J Month Ago e008 0d0nrioccsen - 187.712 ; Year Ago escsscshesosessens 143.22 4 1942 High (May. 9) ssessences 108.34 1942 Low (Jan. 2) ®ecsnorin 151.54
LOCAL PRODUCE
h -feathe: ; Le 1a fire 160 mn; oe, Mo! . Broilers, 2 lbs. and over; colored, 16c; white and barred rock, 20c; coeks, 1lc. ’ rs, 3 lbs. and Syer: color alc; ; acted end white rock, 3. ol, All No. " poultry, 3 Le less. Eggs—Current receipts 54 lbs. and up,
Graded Eggs—Grade A, large, es rade 4A, medium, 35c; grade A small, 6c; no grade, I» “Butter—No. 1, 44%2Q45¢c; No. 3, 43%@ #3c; butterfat, No. 1, élc; No. 32, 38c. (Prices on produce delivered at Indianquoted by Wadley Co.)
sks Between Toes?
¢|in India. These, for the first time|he does not envision rule by equali4| workman some relief from long|more attractive picture to Birla is
L .|army of labor, being master of a making short shrift of those Brit-
¢| tion he has business in Calcutta and 4 | Bombay.
H the cheering section when Mohan-
EMPLOYMENT
June) 1942 - 61,910 ... $2,203\340 ... 7616 |o.eusuee 3,048 weiss ene 1338 N..veiad
Employment (Manufacturing) Peeves . 62,160 TY Payroll - (Weekly) ..... eessecaescerssess $2,176,580 Sought Jobs (Persons) ..ccecopecsocsces. . 6,690 Obtained Jobs ......ccccceo0c00s000000.3,007 Filed ‘Unemployment Claims tesvscanres 1580
TRANSPORTATION : i
Inbound Freight- (Carloads) vereernnons. 16,747 16,609 . Outbound Freight asvestsesssesssseseeyes04d 9,891 fh ai Streetcar PaSSENZEers ...cccocssssooccees 1,909,349 7,699,460 \ ..... Airplane Passengers cesesesssrarecassses 3,750 3,329
eccsalecese
1 t
BUILDING i
Houses (Permit Value) «...o...ccc0000.. $151,700 Apartments ........cceco00e0c0000000000.0 Business cesencasssessssensscsesssessses.d Industrial eescsceescsssssesscssnccsss ss $80,500 Public cessesssssssessoevsevesssessessess 3500 Repairs vecesscesssessssssssscsscssscsees $43,404
FINANCE
Bank CIearings ...cocoeeeeceesesseseess. $128,912,000 Bank Debits crevessssassssasaessseenes. $366,783,000 Business Failures ......oo.o0000e.e. ceeesl
MARKETINGS
Hogs (Head) eocoecovcecrcecsocessssces. 158,437 Cattle ...cococcencececsccocsccoscsncsces 5,390 Calves teesesssissseessecessoassssccsaness 13,431 Sheep Corn (Bushels) 000 0%°00°%000000 000000000 2, 251,500 Wheat 0000000000000 0°000000000000000000¢ 1,135,000 Oats . veveceessessesessossessesessassssss 544,000 RYE sc.oocoicocsooscoccssesscses covessesss 31,500 Soybeans . 63,000
MISCELLANEOUS
Retail Sales Telephones In Use cesevsecessnsnsssese 116,539 Postoffice Receipts cocessessssssssesssess $410,149 Relief (Cases) vececssssccssssscessesssss 1,063 Relief (Cost) cecesroasssrencagessssesecs $21,343 Electricity Output (by KWH) .....c.... 72,322,000 Gas Consumption (by Cubic Feet) ......456,707,000 Water Pumpage (by Gallons). ...........1,410,350,000 Imports tecenssscsesesconsescassessess ss $081,129
Stam
in
209,556 .......
10,667 1,891,500 124,000
0000000000000 RRO CCSTS 22,515
81,000
$408,743 ...... 1,118 $21,812 .. 68,631,000 463,146,000 1,241,150,000
ing Commissioner; Board of Trade; U. 8. Commerce Department; Indiana Bell Telephone Co.: Indianapolis Power & Light Co.s Citizens Gas '& Coke Untility; Indianapolis Wate,
Chamber of Commerce,
Rich Indian Industrialish Backs Freedom Movement
Times Special The money bags of one of the most important but least publicized men in Asia form a golden backdrop for the Indian independence movent. oe The man is Ganshiam Das Birla, a multi-millionaire industrialist with international commercial interests. He has been described as “a go-getter with a finger in every Indian pie”—and isn’t exactly one of John Bull's best friends. One reason G. D. Birla has a strong distaste for British rule is|with modifications and reservathe factory laws Britain introduced tions. If freedom comes to India,
in the long history of the teeming|tarians like Gandhi or by socialist-sub-continent, gave ‘the . humble|minded scholars like Nehru. A
hours, ‘merciless sweating and mi-| that of himself and his fellow incroscopic wages. Birla employs an|dustrialists ruling the roost—and
4 (great jute mill, of cotton mills in ish-fostered factory. acts.
sr fe mew 5 52 2 INDIANA CORN CROP HAS GOOD GROWTH
landed farming estates. In addiIndiana corn is making good to
So G. D. Birla is right there in|
Compared With
ses 00e .
evens codes
SL02312 ih
“we + 54
28,519 eeceocee 16,292 coceeee
seve
352,000 ..ccoe 39,000 ....cce.
115,635 cccceee
cece 0etO° sooo eco eee
$224,909 ......
35| aloof from politics.
das K. Gandhi, Pandit Jawaharlal Nehru andthe all-India congress make any progress toward their goal of freedom-for-India.
He is very close to Gandhi. He has been host to him in his Calcutta palace nearly every time the gnome-like Mahatma has left his humble hut in the little village of Sevagram to visit the Rig city. The close tie between the two men is further underlined by the fact that Gandhi's son, Devadas,
5|is the editor of a great newspaper
owned by Bilda.
Some powerful tycoons, though maintaining the ship of state, keep Birla doesn’t.
He was elected a member of
5|the second Indian legislation as-
sembly, but resigned in protest against legislation for imperial
g¢| preference within the British em-|.
pire. In 1927, he was an employers’ delegate to the International
3|Labor conference at Geneva, later
enjoyed ‘the important strategical position of membership on the Royal Commission on. Labor and went ‘to London as a member of the second Round Table Conference, which attempted to settle “the Indian question,” but failed. Like many other industrialists to whom anti-labor ' sentiments are imputed, Birla has fourided and maintains a number of educational and other public institu tions in India. He considers himself a good Indian patriot. He had a hand in when, some years ago, Gandhi launched his faithful millions on a campaign of civil disobedience to British laws. Business life was slowed down. Gandhi's slogan was put up everywhere: “Use Home - Grown Khaddar.” Khaddar is Hindu for home-produced cloth. What Gandhi wanted was for each household to weave its own cloth. But the Birla mills were prepared to produce most of .that cloth. Birla got in on the ‘ground floor with his product, wrested the cot-
in Lancashire — and never did get the market Birla believes in ; the Aad oF $i lndisn pedpled Bis:
ao ea & Fenow”
SAFE DE al BOXES
excellent growth, despite the recent
low temperatures, the Indianapolis sis
weather bureau reported today. Early corn is in dough stage in
the southern part of the state with|®
some denting. The latest is in silk. Elsewhere the ears are generally forming and filling well. However, there is some firing in the drier sections and late pollination hasnot been so good in wetter sections. now believed ample. Harvest of oats, now in the final
stage, appears to be fair to good. a
Soybeans are making good to excellent growth and the foliage is heavy, the weather bureau said. Tomatoes and sweet corn are being packed and melons, peaches
and apples are being sold in the|} 1
southwestern area. Buckwheat there is coming up. "The early potato crop, now being dug in the north, will be a good one, the weather reported.
WHEAT, GORN PRICES HIGHER AT GHICAGO|
CHICAGO, Aug. 19 (U..P.).—En. couraging war news and strength of the Minneapolis market bolstered wheat futures in early dealings on the board of trade today. Corn advanced fractions. Wheat moved 1% to 1% cents a bushel higher at the end of the first hour, corn was up % to %, oats up % to %, rye up % to 1, and soybeans up %. In the September deliveries, wheat shot up 1% cents a bushel from the previous $1.17%, corn was up % from 82%, oats up % from
48%, and rye up % to 1 cent from||
the previous 61% @%. October soybeans gained % cent above Yesters day’s $1.71,
WAGON IP.) the Sloss of He
today, napolis flour mill grain’ oo Toi 31.18 bushel b ( rat Rr per gs No. ye
Soil moisture is ie
118 UNEVEN HE!
: Declines Range to Quar [8
Compared With July, 1941 % 55,810 : $1,623,185 ..... + 341 5,745 .occ0eees + 164 2,371 ssvesveve be 30.6 1.858 ......... — 150
% «= 12 . —18T . + 16 . + 184
20,701 ,....... —19.1 13,162 ........ —.26.7 © 5,604,823 ..... + 389 5,409 secend - 30.7
+ 08 .— 24 “io . 4 126
soe
$158,300 eee . cesseboce
.1.000 cesedecs
$52,000 eecooncs $41,400 ..... $191,700 ...... $105,264 ......
+ 84 Sr 21.1
* $118,931,000 . , SHEA
— 214 -— 110 —- 11.6 +1111 + 19.0 +8153 +\ 5455 —|192 —1222
137,267 .. 24,317 esses ca 13,250 esscscee 19,691 sevooecee 1,975,500 ...... 2,883,000 1,248,000 ...... 12,000 ... 19,500 ..
seseee
— 120 08 03 49 2.2 5.4 14 + 13.6 + 211
+ 99 + 12 — 49.1 — 48.1
106,028 ....... $382,717. ssecoe 2090 .....c000 $41,159 ....... 61,935,000 ..... 383,622,000 .... 1,421,630,000 .. $199,208 ......
.
+ rE +
+ 19.1 -— 1.2
urces of above Informations indians Employment Security Divisions New York Central, Pennsylvania, Baltimore & Ohio, Monon, Illinois Central and Nickel Plate Railroads; Indianapolis Railways; Indianapolis Municipal Airport; City Build. goo a Indianapolis Clearing House Association; Dun & Bradstreet; Agriculture Marketing Service; Indianapolis Indianapolis Postoffice; Center Township Trustee;
r Co.; U. §& Customs Office; Indianapolis
WHEAT Tg PAID TO 110 HERE
Marion “county farmers will receive $14,640 from their AAA wheat crop insurance this year, it was reported today. Production dropped from an average of 20 bushels an acre to 8 bushels an acre, a loss estimated at 144,000 bushels in this county, Albert L. Steinmeier, chairman of the county AAA, said. Of this amount, 12,000 bushels tn indemnity payments will be paid to about 110 farmers covered by wheat crop insurance. Hessian fly and winterkill caused most of the damage to this year’s wheat crop. Largest single loss in this country was reported by Lewis Sutton, Perry township farmer, whose crop of 67acres of wheat was totally destroyed by hail and wet weather at harvest time. His indemnity amounted to 921 bushels.
OTHER LIVESTOCK
CINCINNATI, Aug. 19 (U, P.).—Hogs— Receipts, 3100; most weights over 1 1bs., to 15 cents lower, lighterwe ii and De steady, 180-225 1bs.,, not fully established, a few sales were made at $15 but bidding on Sls, 314.05; 250-275 $14.60; 275-300 1bs., s 300-400. The $13.85; 160-180 1bs., ; medium and rod 150-160 lbs., 140-150 1bt Saas
S., 130-140" 1bs.. good sows, $12.50 .26. Cattle Receipts, 500. Calveb-Recelpts, 250 : Hl Steady in steers ‘and heifers; cows an ctive and strong; 1150-1b. good al ae 75; good steers and heifers, [email protected]; common and medium 57035: 3 cows, 310910. 0.75;
ul pulls, 5.50010 75: 0 $11.25; strong ings, to i and choice,
lambs
——— . WAYNE, Aug. 19 (U. sogs— ; 300.320 bs.,
o 10 3% 1 3 540-360 Toe: ; 280-300 1b: 350-400. 140-150 Ibs: | 1 100-130 1bs.,
3.60. Roughs ua $5 down
13.25; sta 8, $16; lam! : :
, $14.50; ewes, SUB ACTIVITY SHIFTED LONDON, Aug. 19: (U. P.) —Ofticial circles today said German Uboat activity, following intensified counter-measures along the eastern United States seaboard, was increasing in other parts of the Atlantic.
Continental Oil Co. ‘and ‘subsidiaries June’ quarter net profit $2,379,265 equal to 51 cents a share vs. $2,642,082 or 56 cents a share in:the 1941 period and $3,544,165 or 76 Sénts in the March quarter 1942; months net profit $5,923,430 equal’ o
cents in the 1041 period.” ol oN
* 11100-1300 pounds
+ 16.8/Good—
+ 44.1) Mcd
.1bs.
225-250 lbs, |
da yearlings, $12.1
calves, | -
$1:26«a share vs. $3,857,664 or 82
Top Slumps to $15; Vealers Steady.
The hog market was an un
' lone ,at the Indianapolis stocky ::
today, the agricultural mark; i administration reported. Weights between 210 and pounds were unchanged from | terday but other weights deci: from 5 to 25 cents, the full de being on weights ranging. up. from 350 pounds. The top slumped to $15 for ; « to choice 210 to 220-pounders. ¥ : ers were steady with a $16.50 t¢; Receipts included 5000 hogs, ! cattle, 600 calves and 2200 shet
HOGS (5000)
Good to Choice— 120- 140 pounds 140- 160 pounds 160- 180 pounds 180- 200 pounds 200- 220
pounds 220- 240 pounds 240- 270 pounds 270- 300 pounds 300- 330 pounds ... 330- 360 pounds
Medium— 160- 200 pounds
$13 0a
Secevteces
25@ 14.10¢
13.7%@ - ¢
pounds 360- 400 pounds
Good— 400- 450 pounds 450- 500 pounds
Medium— 250- 550 pounds ., Slaughter Pigs Medium and Good— 90- 120 pounds . CATTLE (1500)
Slaughter Cattle & Calves
12.50@1:
Choice— ? 700- 900 pounds ....,. «$15. 001: 900-1100 pounds 1100-1300 pounds ...
1300-1500 pounds
Good— 700- 900 pounds 900-1100 pounds. 1100-1300 pounds . 1300-1500 pounds ..cescecesss Medium— 700-1100 pounds
14.00@1 ; if 14.00@1 + , 14.00@1 14.00@1 + «
« 12.25@1 . © 12.50@1 . ©
10.50@1. , |
seve sess
Common - 700-1100 pounds Choice—
600- 800 pounds 800-1000 pounds
14.15@1¢. 5 14.25@1¢. :
13.25@1¢ 13.25@1¢ : 5
setencescnene
600- 800 pounds 800-1000 pounds dium— “500- 900 pounds Common-— *500- 900 pounds ‘Cows
casssesesvess 15.00@1% 5 sot esvansses 10.00@1] 12
Bulls .(all weights) (Yearlings Excluded) Beef QGO0d ...eveestnttcsssertecens Sausage— - Good
10.50@11 "3 . 10.75@11
CALVES (600)
Vealers (all weights) Good nd chaice $16. 00@16 : Common and medium t Cull (75-1b.s. up) Feeder & Stocker Cattle & Calveh
Steers Cho 500~ B00 pounds ....eecec0ee S20-1050 pounds c.cesseceese
d 500- 800 pounds ...cessssese. 11.50@12 : | 300-1050 yo sesesscssses. 11 50@12
Medium i 200-1000 ) pounds sec00c0s0snes 10.90@11. ¢ |
Co00-"900 pounds ......cv.e... 0.50@10 0 Calves (Steers) i
Good and Cholce— i 500 nds down . 14.00@14. : 1 11.00@14. ;
Med 500 To ds down . Calves (heifers) Good and Choige— 500 pounds dOWR seessecces Medium-— 500 pounds down ..... See enas
SHEEP AND LAMBS
Ewes (shorn) Good and choice Comon and choice .ceveeceeoee Spring Lambs Good and choice ecoecececcss Common and good om
. 13.00@15. 10.00@13. i (2200)
5.25 4 4338 5. 15. 3% 13.50@ 11. 0@13. :
5 CHICAGO LI LIVESTOCE.
Hogs—Receipts, 10 +000; slow, weights 2¢) | down steady 10 cents lowe | : . and sows Sead) |
Ee sows, Pe 30; "Ibs down, “$14. 330-400 [email protected]; He 1bs., $13 061 14. Sheep—Receipts, 2000; late Tuesday: classes steady to il g: spring lambs, $15. ulk choice lots, isis. i good 97-1b, fei 0; today: very little earl tradi ng; most fully steady odd s good fed yeal lings, 4 11.50@132; sae ewes scarce, $6.5
dow: Cattle—Receipts, 14,000; calves réceipt: 7 ed steers and yearlings steady ti 15 cents lower; good to near. choice Sfel - | Ings t moslty 0o1s cents off; trade fairl ive; top, pald for choice t: rime N Neha several Joaas, [email protected] iberal supplies sold $14.75@15. 75; com paratively tle, here Ce bi Cis 1s, ; Stock. ; liberal supplies fed. heif ers here oa to 25 cents, mostly 10@1! cents lower; fed heifers, $15.50; Svs firn trade on cows, bulls and vealers; cutte:
Ibs. Sows to $9.25; most fat offerings, $9.75G
; heavy sausage bulls to 3 Ireely, [email protected].
" KRUEGER RE-ELECTED Edward A. Krueger, manager of field service at the State Life In- | surance Co. of Indianapolis, wat | elected yesterday to a fourth term | as national treasurer of the Amer- | ican Society of Chartered Life Un, derwriters.. The election was announced at the %nnual meeting held yesterday in Chicago. :
FOR RINGS AND NEW MOUNTINGS
to $12, and veal
‘moted to deputy ‘regional WPB “director in charge of eight Mid-
Frank Hoke Frank Hoke, Indianapolis manufacturer who has been district
manager of the war production board office here, has been pro-
west offices. The appointment was ‘made yesterday by Joseph L. Overlock of Chicago, regional WPB director who praised the “excellent service (Mr. Hoke) has given since the opening of the district office in Indianapolis last year.” Mr. Hoke will be succeeded here by Jack Frohlich of South Bend who has been assistant manager here several weeks. Mr. Hoke will
Jack Frohlich
continue to keep his office here, supervising WPB offices in South Bend, Gary, Ft. Wayne, Evansville and Indianapolis and Decatur, Springfield and Peoria, Ill. The deputy regional directorship which Mr. Hoke assumes is a new position created under an expansion of the WPB organization. When Mr. Hoke first joined the WPB, he was in charge of the contract distribution division, a division; since absorbed in reorganization. He was then made WPB district manager for Indianapolis, having supervision over priorities, labor, industrial con-. servation, finance and other WPB programs. :
lied
400-55 |
Ayah! L ood an
bids on native springe:. : at $16 and down, an htly lower; . askin -
NY S
8y UNITED PRESS
Net Last Change 32
High gs +1-32
. 9-32 ..133% . 24%
ilegh Corp . llied Chem 1lis-Chal m Can m Roll Mill.. 10 mT & T....119 m Tob B.... 42% naconda .... rmour Ill .... tchison tl Refining... 17 alt & Ohio... endix Avn .. eth Steel .... orden org-Warner .. hes & Ohio... arysler ...... ms Edison ...
11+
VP)
dH Leb . BN “
e ¥ :n Electric ... mm Foods .... mn Motors ... 39 yodrich yodyear on Motor . t Harvester .. 49
i+
|‘oger G&B' 1 gn Glass .
& . Dairy .... Y Central .. blitt Sparks. 191; io Oil 8% ‘ens Om Glass 5016 ckard 2,
4 a Am Airway 19% Bane Pict .. 16%
rE HL
sd L++]
n Rand ... 8% yublic Stl... 14% rs Roebuck, 55Y, 2Hy- Vacuum. 8Ya 2 ... 14% Ind. 38y w-War .. 6% kely Br .. 3%
& Web debaker
SpE Tas!
R B.. 36% rp Aircraft 27% Gas Imp.. 3% 3 Rubber oo 19%
+111
3 ion it Air Bri. ata Hl... 69%
sting ite Mot .. 13% worth ses 28% 1d oy Shes. +3136 31 ith - Rad .. 14% 14%
U. S. STATEMENT
'ASHINGTON, Aug. 19 (U. P.).—Govnent expenses and receipts for tne ‘ent fiscal -year through Aug. 17, comd with a year ago: ‘This Last
Year .$7,985,110,876.16 52 473,679, 204, 96 d. 7,142,583,377.32 1,594, 586,898. 81 « 1,058,098, 1975.27 653, 546,019.04 6.925,082,500.89 1,789,306,815.93 + 4,532,054,273.08 2,680,469,052.97 .. 3,769,601,272.75 1,928,926,257.14 Debt .85,449,447,832.50 57,100,251,519.86 Res. .22,742, 507,047 047.83 22,704,633,757.44
+++ |:
31 14%
2nses.
% Yesterday 2 | Week Ago ..... secscsssessee
4 Month AgO .cossescsccccese
131 So Ind G&L 4.8% pid..
TOCKS
DOW-JONES STOCK AVERAGES
30 INDUSTRIALS +0.87 +0.05 —0.33 +0.44
105.47 108.03
*v00000c0000000se
Month Ago Year Ago High, 1942, 114.22; low, 92.92.
High, 1941, 133.59; low, 106.34. 20 RAILROADS
A Yesterday
Week Ago .....
# | Month Ago ....
Year Ago High, 1942, 29.01; low, 23.31.
al High, 1941, 30.88; low, 24.25.
15 UTILITIES
Yesterday co.cveveces Week AZO ..ccoscvcsescececs 11.48 « 11.3% Year Ago High, 1942, 14.94; low, High, 1941, 20.65; low,
Complete New York stock quotations are carried daily in the final edi-" tion of The Times.
LOCAL ISSUES
Nominal quotations furnished by local unit of National Association of Securities Dealers. Ask
Stocks Bia
Bets RR Stk Yds com..cccee. 53 t RR Stk Yds pfd ..cece.0 56
J Bobs Rereiil [0
d ch Ind Hydro Heo a. pra canes dl Ind Gen Serv 6% p coscnall
: Indils P&L 3%% a, Indpl;
P&L com Indpls Water 5% p. Indpls Water Class «18 Lincoln Loan Co 5%% ped «83 Lincoln Nat Life Ins com N Ind Pub. Serv 5%2% “pla; cpee . 80 N Ind Pub Serv 6% Dp: 85
i |N Ind Pub Serv 1% pid.
Progress Laundry com . *Pub Serv of Ind 5% pfd.. ves 8702 *Pub Serv of Ind Inc com..... 10% Union Title Co on seedvo00e . 27 United Tel Co 5% 92 Van Camp Milk pf . 66 Van Camp Milk com essences 11
Bonds rs Wins'w W RE %% . S
Ho Ing Ind Indpl nd
Wa! Kuhner Packing <0 Morris 5&10 Si “eve Muncie Water Works 58 65 ...1 N Ind Pub Serv 3%s N_Ind Pub Serv Pub Tel 4%2s 65 . 99 Richmond Water ve 8s 57 ..108 Trac Term Corp Ss
secs es
Feossssos
PLease Gi CLEARING HOUSE
*Ex-Dividend.
8 PREDICTS LACK
OF FARM LABOR,
Rep. Fulmer Says ating Of Workers May Be Necessary.
| WASHINGTON, Aug. 19 (U. P. —Chairman H. P. Fulmer (D. 5.C.
of the house agriculture committee
predicted today that farm produc-
jtion would drop “precariously low”
next year unless steps—such as the drafting of farm workers—are taken to relieve the labor shortage. Rep. Fulmer said farmers could not - afford to pay wages high enough to keep laborers on the farms, because they receive only 12% per cent of the national income. The resulting labor short-
age, he said in an interview, is
approaching a climax that will be as “unpleasant” as that of the Tih; ber situation. ~~ Angry at ‘Bureaucrats’ He said it may be eventually to draft farm workers. The agriculture department and other federal agencies have been worried over the farm labor situation for some time, and have worked out plans for controlled migration of itinerant laborers and for importing Mexican farm hands into the southern states to harvest crops. “I don’t see anything I can do. help matters,” Rep. Fulmer de clared. “The bureaucrats will not permit us. to do anything gbout it until the whole thing walks right up and smacks them in the face. “Although the department of agriculture is calling on farmers to, increase production to supply shel needs of both us and our allies, other federal officials sit supinely by and watch the farm workers either. get drafted or go where they can get more money. . .. The farmers. can’t increase production if they can’t get the labor to help them harvest their crops, and they can’t compete for high-priced labor at the prices theyre getting now for. their products.” Protests Price Fixing Rep. Fulmer has protested sev= eral times to Price Administrator Leon Henderson against fixing prices which he contended gave the middlemen between the farmers and consumers too much margin. Prices were fixed, he said, so that - the retailer and various middlemen were allowed fixed amounts, “and then what's left was permitted— begrudgingly, apparently—to go to the farmer.”
REDUCTION MADE
IN BANK RESERVE
WASHINGTON, Aug. 19 (U. P), —The : federal reserve beard has” ordered a reduction in the required reserves of the New York and Chicago member banks to ease a tight reserve position created in those institutions by the treasury’s August financing operations, it was dis- 3 closed today. The board authorized a cuf of 2 percentage-points or some $350,000, 000 to $400,000,000 in the reserves which New York member banks must hold against current deposits, and a reduction of about $70,000,000 in the required reserves of the Chicago bank, both effective tomorrow. ~ With excess reserves of the New York and Chicago banks at the lowest levels in some years, reductions in required reserves come at a time when the federal reserve system faces the necessity of meeting two record-breaking treasury calls tomorrow and Friday amounting to $463,494,000.
R. 8. ORR TO RETIRE
R. 8. Orr, formerly Indiana sales division manager for Standard Oil
Co. of Indiana, will retire on com=
pany annuity Oct. 1 because of disability, the company announced to-
day.. Since 1940 Mr. Orr has been at La Crosse, Wis.