Indianapolis Times, Indianapolis, Marion County, 22 August 1942 — Page 4
SIN
ESS
Loss of Gary Synthetic Rubber Plant May Mean Good News for the Nation|~
—— By ROGER pUaROwW
PEOPLE AROUND GARY THINK IT IS TRAGIC that the government has stopped the giant synthetic rubber plant being built up there. It does nip a new industry in . the bud, throw many out of work temporarily. It is hard “for Gary to take, ; e But what may seem like a tragedy for Gafy—losing al new industry costing upwards of 100 million dollars—may| turn out to be a blessing for the eountry in general. Because, boiled down to its essentials, it means that our synthetic rubber program is coming along better than was expected and thus the Gary plant is not needed at present—
"DECLINE CENT
Long Liquidation, ‘Saling By ' Cash Interests Depress Prices.
CHICAGO, Au. 22 (U. P)—Corn"y. futures on the board of trade today * led a weak market by dropping more than a cent a bushel as the result of long liquidation and selling by cash interests.
Corn closed around the day's lows with net losses of 1% to 1% cents a bushel. Wheat was o: % to 1%, oats off %& to 5%, rye off % to %, and soybeans unchanged to off %. In the September option, corn lost by 1% cents a bushel from yes-
Yesterday ......ciieooeeness 10007 Week AR. siuursrinss seeetes 106.38 Month Ago . Year Ago : High, 1943, 1am Lew, 92.92. | High, 1941, 138.50; Low, 100.34.
MADE BY Hoes
Top Advances to $15.20 as 1500 Porkers Arrive At Stockyards.
A 15-cent advance was made in all hog prices at the Indianapolis § ¢|stockyards today, the agricultural ‘|marketing administration reported. The top rose to $15.20 for good {to choice 200 to 210-poenders. Receipts included 1500 hogs, 300 cattle, 150 calves and 50 sheep.
HOGS (1500)
essesessss $13.65 . B534 i
Abbott Lab 4 pf. 45% Addressageaph .. Bs Air Reduc ..
lit Er :
a eo
Month Ago cssesascessnssany Year Ago ......cccoecueivinns 1} High, 1942, ‘20.01; Low, 23.31. High, 1941, 30.88; Low, 24.26.
>> 553EE faethe
LTT a g
High, 1942, 14.94; Low, 10.58, High, 1941, 20,85; Law, Low, 18.51.
v a eo
fe Bop EX
17 MOST ACTIVE STOCKS : Sales Net (In 100s) High Lew Close Change Sparks Wit'm.108 23% 4 2% 8lg 8% 6%
des Elz
and may never be needed.
Butadiene is the basic raw in-|—
- gredient of synthetic rubber. The Gary plant was to make 100,000 tons of butadiene a year. But it would have taken a year from this fall to complete the dlant and it would have consumed great quantities of strategic metals. In the meantime some oil refineries have been converted to making “quick” butadiene by use Of the recently announced Houdry process and by means of an improved process discovered by Stand‘ard Oil Thus existing facilities can be - ised instead of having to build new Ones and new processes have speed- - ed up the program. So what may be Gary’s loss may eventually turn out to be the nation’s gain,
LL 8 NB : obDS AND ENDS: Ryan’s new trainer plane (of plastic-bonded - plywood) is believed to use less strategic metal than any plane yet designed. .-. ,*One New Jersey firm, advertising for workers, offers fo pay transportation to and from plant. . . . A depleted oil field in southern California may be used to store natural gas, could * store 20 times as much as above- , 8round facilities. , , . U. 8. hasn't -goined a nickel in four months because they can’t decide what to substitute for copper and nickel] . and still have the. same weight - necessary for telephones, slot machines, etc. . Some stolen gaso- © line ration books have turned up in the east. . . . Instead of giving two companies price-ceiling relief recently, OPA told them to cut
~ Roger Budrow
LOWER-PRICED STOCKS ACTIVE
But Firm; Studebaker Up Slightly.
NEW YORK, Aug. 22 (U. P).—|—
issues today featured an otherwise dull but firm stock market.
Nash-Kelvinator, which appeared on blocks ranging to 2000 shares, was the feature of activity. It equaled its high at 6, the previous close. Studebaker had a fair-sized turnover and gained slightly. Chrysler was up slightly and General Motors easier. Sparks Withington, well up on the active list, made a new high at 2% up % point. Steel and railroad shares were dull. A new. high was made by Texas & Pacific while Southern Pacific equaled ifs high. U. 8S. Rubber preferred sold at 88% up 1% and a new high. Goodyear made a fractional advance, to a new top, while Goodrich equaled its 1942 high, Standard Oil of California and Amerada made new highs for the year. The. American & Foreign Power preferreds continued their daily practice of setting new highs in the utilities. Glen Alden Coal was active on the curb when directors raised the dividend from 30 cents to 50 cents a share. Generally the bond market moved
salaries and advertising budgets.
narrowly in light turnover,
Otherwise Market Is .Dull|
Heavy trading in a few low-priced:
90 Returned to State Payroll
Ninety persons in Indiana who have been federal employees the past eight months will return to supervision of the Indiana employment security division Sept. 1. The 90, along with several hundred “others, had been transferred to the U. S. employment service jurisdiction Jan. 1 this year when
the state employment service. Inasmuch as they have devoted a major part of their time to unemployment compensation work, which is still under state jurisdiction, they will be returned to the state payroll, in accordance with recent congressional action.
LOCAL PRODUCE
Heavy breed hens. full-feathered, 19¢: Leghorn hens, 16c Broilers, 2 lbs. and over; colored, 19¢; white and barred rock, 20c; cocks, 1ic. Springers 8 lbs. and over; colored, ate; barred and white JO 32¢c. All No. © 3 cents less. Exge—ourtant. Teceipts 54 bs. and up,
Graded . v: gs—Grade large, 38¢; grade A, med atm, 36c; ro A small, 6c; no grade, 2 Cc. Bt torcNo, . $4%@45c; No. 2, .42%@ 43c: butterfat, No. 1, 41c; No. 2,
38c. Prices on produce delivered at Indianapolis quoted by Wadley Co.)
E | Page 2
WHATS CEBKIN7
Aug. 22, 1942
Contined From Pretading Page. What's Cookin’ the Army—
The Roof Is Coming offi —
YOU'VE PROBABLY heard
i candidates threaten to “blow the dome of the _ eourt house off” with some big exposure or other. Well, none of em ever has: done i, so now the county has appropriated $5000
. to hire it done. . . ‘ous condition. ...
. They say it’s in
“body must have held onto their own
~ books because we didn’t hear of anybody . They had a big ceremony the other night at the World War
hollering “thief.” . .
Memorial, graduated 77 men and ' members of the civil air patrol.-
: folks in the Gas Company building’
distress one day this week when they looked up and saw the flag upside down. Everything was okay, though. It was Just
< 8 new Janitor. Got too careless. wR Ww
y ow've Gotta Get Up— > They aren't beefing, but some
out t didn't
have calisthenNv ics until 8 or 9
a. m.
they're at it at 6
a. m., and structor has
you ‘can hear for
blocks. . .
master Seidensticker says we're not likely = "© to have our mail devery curtailed, at least not for a time, . . .
its employees thus far. . . .
ok
EE ai of tho see and of the movies before it gets too late at ] . And our Governor Schricker
looks like he won't get a vacation this Miss Alice Greenleaf, who has n acting superintendent of nurses at City t: rates a salute now. She leaves Sept. a second lieutenant in the army nurse - . Make that salute snappy, men. > , County Clerk Charley Ettinger heard nm jpertect stranger the other day. .". .
he oe
: . They had a practice blackout in the Traction Terminal and nine other downtown buildings the other nigkt.
They'll be on aerial patrol duty one of these days. . . . Bome of the people downtown thought the
So go ahead snd + wilis all the letters you can. You don’t 8 how Lappy it makes the foliss to hear
political
Carl W, Schwenzer
danger- And more con-
grats to Capt. Earl Hof f, down at Ft. Benning. Earl, who used to report for The Times, h a s just earned his second shoulder bar. Best dressed capfain at the
Everypocket-
women
were in
| Springfield, Ill, to
THE CARL SCHWENZERS out in Woodruff Place are proud as the dickens of son
III. He’s just been proe-
moted to sergeant, half way round the world in Australia. Congratulations, sergeant. . o
1 fort, we hear. . . . Pvt. Edward Waldon of | the air corps has been transferred from
San Antonio, Tex. Used
to work at the Beech Grove shops. . . . Re=
| member Lawrence
. getting up in the army. dan now, if you please. . gineers at Ft. Douglas, | Howard A. Martin, son
of the
Vv. Sheridan? Well, he’s It's Colonel SheriHe's with the enUtah. . . . Pvt of Mrs. Josephine
| Martin, is an expert on the repair and
here have to
As it is,
the ina voice
' Ralph Fisher. . . ‘ber Pvt. Kenneth Gimber st.
. Post-
cent letter asking them
vegetarian.” * tatian blanks.
They
maintenance of armored vehicles. Just com- | pleted h 45-day course down at Ft. Knox. . . . Among our newest corporals is David I. Aroesti (1125 Union st.). Perrin field, Tex. . . . Pvt. Earl Brown (1910 Madison ave.) writes home from Camp Pickett, Va., that “‘everything’s fine.” . R. Moore has returned to Ft. Brady, Mich, after a visit with his parents, Mr. and Mrs. . Some of you will remem-
He’s down at
. Roy
W. Van Cleave, 202 W,
He’s down at Drew field, Tampa, Fla., with the army signal corps. . . . And officials at the state draft headquarters were ' stumped the other day when they got &
to “send me an applica-
tion form for a conscientious objector and a
were fresh out of vegee
* % *
Let's Cook ; the Jap’s Goose— : WELL, GANG, Jake care -of yourselves
£
and drop us a line if you get a chance.
good, too, Sam. .
Corp. Sam J. Sax did the other day. . . . “Eratsnd 56 Wale foi af pulled Wp; Yen, s in the finance office at Jackson rc, No Oren. Wo. tink yours
. Pvt. Lawrence Cain,
who's probably across the water by now, didn’t have time to write us a separate let‘but he asked Miss Florence Moran, who's
sort of. special, to keep on sending him
“What's Cookin’ ”.
when you're awsy from home,
Said it's pretty welcome . Best of
luck men. a Wel ane you agent week:
the federal government took over
|Kaiser Seeking
This is how the aircraft carrier training ship Wolverine, once the famed Great Lakes pleasure boat Seeandbee, looked from above as she passed through the Detroit river.
MICHIGAN GETS 2 AIRCRAFT SHIP
Be Used for Training Navy Pilots.
CHICAGO, Aug. 22 (U. P.).—The Great Lakes’ first and only aircraft carrier, the U. S.'S. Wolverine, was commissioned today
in striking contrast to her peacetime pleasure usage.
There. was only one feature to remind thousands of Chicagoans gathered for the lake-front ceremony that this grim, gray flat-top once had been the pleasure cruiser Seeandbee—the side wheel ''propeller. The Wolverine probably is the only side-wheel aircraft carrier in the world. It will be used to train thousands of navy airmen in carrier tactics.
Purchased in March
The navy purchased the Seeandbee last March and a Cleveland ship yard transformed it into a carrier, shifting her superstructure and smokestack to the port
side and erecting the huge, over=hanging flight deck. While her crew stood smartly at attention, the commissioning pennant was broken out-on the main mast. It bore seven white stars and a red and white stripe. Capt. E. A. Lofquist, chief of staff of the ninth naval district, led the official commissioning party and was received on board with full naval courtesy as : prescribed for wartime usage by the vessel’s commanding officer, Comm. George Fairlamb' Jr. . ’
Planes Demonstrate
After the ceremony, . fighter planes piloted by veteran navy flyers streaked across the ship.’ A pair of Gruman F 4-F-3 “Wild-
using = against the Japanese, banked and dove in simulated warfare. One of the planes was piloted by Lieut. Comm. Edward J. O'Neill, who fought with the Pacific fleet in the battle of Midway. He is now in charge of an air operational training unit at Glenview, Ill.
Arc Welders Here
Henry J. Kaiser, the west coast shipbuilder, will have a representative in Indianapolis Monday and Tuesday to hire arc welders to work in his Oregon shipyards. The pooled interviews will be held at the Indianapolis office of the U. S. employment service, 148 BE. Market st. Men now working as welders in war or essential plants are advised not to apply, but those not working at their highest skill and who can qualify will be interviewed.
LOCAL ISSUES
Nominal quotations furnished b; anit of National Association of Seburities Dealers. Stocks Bia Ask
Yds COM. .eoenes 83
Belt Belt ry s Yds vid evssencs 98° “
Bobbs-Merrill n $a vd . Circle ter com
»
+103 pid.. csansane 91 cesssnde i
ee bel gl
reyes
‘. . ®
Lad
» I.
Former Pleasure Craft to |co
Good with a display of naval air tactics|Medium
cats,” of the type .the navy i518]
* | Pub. Debt. 85,638,879,935.71 5 Gold Res. 22,744,508,823.24 23,710,140,607.65 Gah:
eR
seecnssssnen
Td sei 60
Medium— 160- 200 pounds
[email protected] [email protected]
360- 400 pounds arses
Good— 400- 450 Bobnds “000000 s0 ss 1
oh 50 pounds ....escee.
Slaughter Pigs
Medium and Good—: 90- 120 pounds ..........
CATTLE (300) Slaughter Cattle & Calves Steers
L500 ng
Gon "900 '900-1100 | 1100-1300 1300-1500
. [email protected] [email protected]
Medium— 700-1100 pounds .... 1100-1300 pounds
mmon — 700-1100 pounds .....ccccoess
Heifers Choice— 600- 800 pounds ... 800-1000 pounds 600- 800 pounds 800-1300 pounds Medium-— 500- 800 pounds Common— 500- 900 pounds Cows
[email protected] [email protected]
14.15 14.25
ssvecsvecse
es cna
3.2 Li 25
esses tesess. 10.00011.00
11.25 1. 25
5. Tig si 7.75
(Yearlings Excluded) [email protected]
[email protected] 8.25@ 9.25
®esssssscccsscnss sss
Medium Cutter and common ........
CALVES (50)
Vealers (all weights)
Good ‘nd chaice [email protected] Common and medium [email protected] Cull: (75-1b.8. UP) .ce.ca-o Sesiven [email protected] Feeder & Stocker Cattle & Calves Steers Choice 600- 800 pounds ....eseecces 800-1050 pounds ssccsecssssee Goda
11208133
[email protected] [email protected]
500- 800 poun ee 800-1050 Da vars taoene ediume— 500-1000 pounds sscescccstsss OMIMON =
an: 0! 500 pounds “own ,.......... [email protected] Medium
500 pounds down .,.......... [email protected]
[email protected] [email protected] SHEEP AND LAMBS (50)
8.75 ny,
Ewes (sh Good and choice . 5.25|Du
Comon and Sliciss 4.35 Spring Lambs Good and shoice... .. vasa +e. 15.00 13.30 Medium and 200d. .. [email protected] Comm [email protected]
* OTHER LIVESTOCK
CINCINNATI, Aug. 22 (U. P.).—H Salable 500, total 1450. Onl one dou “vl deck of hogs offered for s: oved at sti prices. = $15.10, 180-330 1 225-250 1bs., Sie Lov; 250-275 1bs., $14.70; 275-300 1bs., $14 Compared ago, 15@25¢ fie Sows steady.
FT. WAYNE, Aug. 20 (U. 15 cents hi her; 200.290 1bs.,
240 lbs. 1.30; 260-280 1bs., 300-350 1bs., se 3: 150-160 1bs., “caves, $16;
Pig S—
$14.45; 350-400 be 14.50: stags, 1. Js $15; ewes, $5.50 d
U. S. STATEMENT
WASHINGTON, Aug. 22 (U. P,).—Government expenses and receipts for’ the current fiscal year through Aug. 20, compared with a year ago:
This Yea: Lag Year $8, 419,69. 116. 39 $2,662,365,806.87 HE 51 3338. 42 1,736, 922,778. 91 6! 8,395,8605.24
lambs,
Expenses. War Spend. 7 Receipts. . Net Def.. Cash Bal..
2 Work. Bal. 3, 492, 082,107. 37 1, 875, 169, 613.34
INDIANAPOLIS CLEARING HOUSE Today Clearings Gessessss Debits .covceconrininionaian cia} This Week
Clearings . ces. +.$24,001,000
in EXCHANGE
NEW YORK, Aug. 22 (U. P.).—Following are noon "cable rates on major cur-
rencies: gable Net sesvee h 08 a), aes ¥ 89 9-16 eso) 1.0% (peso)
WAGON WHEAT Up. 10. the close of itis: Oicage mazist today, Indianapolis fi mills and {aid ar paid a. 18 a, bushel for Nr red wheat (other grades on their m ). No.: 1 yellow shelled corn was ert ri bushel and No. 3 a Se; and’ No. gory ic:
Cul (p! Mexico
| No.. 8 white oats, 42¢c.
oats.
FUNNY BUSINESS
i 0 Ga . ee (
Ste Bh
Atl C Line ... 14.15@14. Lidiogid 38) Atlas
> Fajardo Su bs. g with week
Goouygs) 57,192, 838,783.46 | Goth
Atlas Pdr Ey
1 Aviation Corp.
13.95 | Bald Med SE Ba I pounds... .. ..... 12.600013.35 Barnadall
rden : Borg-Warner . Bdgpt Brass ..
T B pf .. Butler Bros ...
Byers pf
Cal Pack iv Callahan Z go i Calumet & H ..
Campbell Wy .. Can Pacific ...
Car C &
0...
Carpenter Stl .. 24 Caterpillar T 5% Celanese Spr pf
Celanese 2nd pf ve Celotex 62 [email protected] g
ic E SY ChiGtWRy 5 pf 13% Chi Mail oral
{] 50| Cl pf 98 Climax Moly & 387% Cluett Peab ... 31
Col; tospoP)« Col & A
Colum Gas ’ oe jy
Com Credit...
Solvents.
C Cong-Nairn . Cons Atrcraft.
Cons Cons SS peauin
3 14% v.14 1%
req © cv Bt 2 In Th
& So. Ta lth Saison 194
16% or
Cons Bdison ‘pf an Cons 6%
n 13 3igLa Cont Mot
ane Co 12% Crane Co cv pf - nie
Crown Cork . Crown Zeller..
Cutler-Ham ...
Decca RI...
Deere & &3 ta & W . ison
Pont Duques L pf .
East Air L .. Elec Boat
8S cv of.
214 114 117 117 — « 26 25% HY
Ci nn : sy rgar r. a Setie™ .
Poods &E A Motors
33% ool . 38%
Motors pis 138% out Adv A 15%
ly Gen Pr Ink pf.
Gen Ry 8S pf..
14 100% 06%
Gen Refract .. Gen T & Gillette > oe
Gimk Glidd Goodri
Mé&Oh pf
Hall Rint ve Harb-Walk
Harb-Walk pf Hayes Mfg ...
13 . 13% +128 1%
Holla Homestake ....
Houd-Her B Hud Bay M & Hudson Motor. . Hupp Motor ..
[11 Genta [11 Cent
ndp! & Lt.. 11 oe ] piration Cop 10% A b... T%
103% S.18% 4% ..13-16
ef
11% ‘10% a
a! %
TT 1% LL. ne 34
DAHER
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Erie Ctfs . ... Am OC & Rad West Union... North Pacific South Pacific. Hupp Motor... Vultee Air ...
Chi Gt W pf.
Studebaker ...
Nash Kelvin'r 108 es 34
28 Continental mma United Air L. 21
19 13% Kansas C 8 Ry 19. Postal Tel pt 19 19 43%
1% MT 1% 15% 1% 29% Wl 21% 8% 6% 6% 14% 14% 14% 27 13-16 13-16 13-16 U% 1% 1% 4% au 4% 18% 13% 13% 2% 26 13 18% 5% 5% 16% 11% 4% 4%
5% 17%
PEER ERRESSS
++ +l ttre
Int T & T.
4 Int T & T For..
1 Jarvis Co -Man .... & Lgh.. 20
Mathi M;
McK Mengel 5 pf.. Miami Cop . Mident Pet . Midland Stl
Motor Whi
ash-Kelv Nat Aviation..
No Amn Avn .. No Pacific ... Northwest-Air’ s
Pere Marq
Republic stl
leab’d Air
Servel Inc Sharon stl... Sharp & D
g
Reis 1 pf Reliable Stores. Rem Rand .....
Reo Mot vie ..
Net High Low Close Change
‘2 EA
Martin Parry ..
Ni Nat Auto Fibres
Nat Biscuit ... Nat Dairy .... 1 Nat Distillers. ..
Newberry A pf.108 Newmt Mining. N Y Air Brk N'Y Central ... NYC&St L pf... ¢ N Y NH&H pf..No Amer . ...
24%; 271% 9%
2% 1% - 11 6% 12 8%
8% 25
Ye eee 18%
Pm . 12 18% 15% . 82% 2 . 2%
. 19% 1% wees 16% sien. A Ye
Pet Corp A ...
Ricter Co ......
jeab’d Air L ..
Ey ye-g9 0p s33E8EE sps-dge snypaegnos
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Si Fs Sssssssresssiar oss
terday’s close of 847% @85 cents. Wheat was off % to 1 from the previous $1.18%, oats off % to % from 497%, rye off % from 62% @7%, while October soybeans lost 1% cent from the previous $1.71. RANGE Wheat— Sept. $136% 81.16% 1.17% $1117 91.18% co 121% 1.21% 1.30% 1.30% ji : 1.20% 1.21 125% 1.35% 1.24%
Prev.
May. .
. Corn=—
49%
Sit% 53%
49%
51% 53%
40%
50% 53%
Sept..
Dec... May.. Rye— Sept..
62% 62%
1.70 1.711% 12.90
Beene ig
E CASH heat No Joes, 84@86c; No. 3
Corn low, elim 3 Banc YNo. 4 yeiiow, 8814¢; No, 82@83%¢.
4 No. 3 white 1% @4se 48c; mixed fied 47c; eavy, ste; No. red ca Son@sic; No: 2 red special,
“Ryo yaalting 0a hard, ne oid 53@65cn; No. 4, 98¢; No. tough, ie: oe. 3 malting, Cash Pr s—Lard in’ store, $13. bse loose S11000; neat, $12.40n; and be $15.75. 1 Nominal. b Bid.
LOCAL GRAIN
CASH Wheat_we ak; receipts, 73 cares Ko. 1 red, [email protected]: No. 2 red, $ii2aLa No. 1 De [email protected]; No. $1.1 13
Corn— oak receipts, yellow, 7 8@79¢; No, 3 wh
yy 2 white corn 1i@19c over Seow: bid corn, 1@2 vis und des,
ate. 480 5% N white Woe: *No: red, Whaienc, Soy! beans—=Stead y; receipts, none;
ana ‘and Minot s No. 2 yellow, $l. Pn 63,.
Curb Stocks
High Am Cyan B .... 33% Maracaibo. x u
; Net Low Close Change A 7-16 he 3% 2 8% 8% . 3%
Ԥ7% LE
A il Braz T L&P ..
FHL
# EEE
"a . .. » . .
Swawin FERRIES KEES ase
on pnt =EBan Bi Tl
#EF THIEL
Mesabi Iron ... Mlybdenum .... Nat Bellas Hess Nat Contr .. J Zinc
5
ntepec Oil Vv 3% Pennroad 3% Penn Cent Air. x Pioneer Gold.. J Pitts Plate Puget So § of. > Shattuck Dn.. Li Oil Ky . Oil Ohio pt. 10nd icolo ¥ Ua Sitar Sis. 7 Gas Cp pf..116% oa Lt & Pwr of 18% U 8 Foil B.... Venezuelan Pet
Far
sritEINLL
Yn ¥ v% -1 7%
Chicago Stocks
. tub High Low cons oil, bbot! ve 45 $ -— Armour & Co .. 3 4 9 ou % bestos Mfg .
do vs
TEErE SESE se EE Es
LEFF bb ED + HE
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Gu 23 +x F or
+ HL] ++ +:
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