Indianapolis Times, Indianapolis, Marion County, 27 August 1942 — Page 23
; Cu :
Factory Wages Rise Faster
A
Than Cost of Living ‘Does By ROGER BUDROW —-
“
THAT STATISTICAL CREATURE—the “average factory worker’—is pretty well off at present. Wages are good
and have gone up faster than the cost of living. Just how prosperous he is depends on whose figures you use. The state chamber of commerce made a study in May which said the Indiana factory worker (as of February this year) had 29 per cent greater purchasing power than in September, 1939, when the war broke out.
This week the bureau of ‘business Tesearch at Indiana university came out with a chart showing that the a¥erage Indianapolis factory ‘worker _ (as of June. this year) has had a 25 per’ cent .increase in “real wages” —that is after weekly earnings are adjusted for changes in living costs. The university Roger Budrow Uses the figures of the National Endustrial Conference board, a private business research - organization, for its cost of living information. Those familiar with = such
Y J8gures, however, note that in re-
L
b
{3
rd
‘cent months there has been a growing discrepancy between the conference board figures and those of the U. S. bureau of labor staistics. The government surveys show the post of living went up 17 per cent in Indianapolis between January, f941, and June this year (the war labor board's base period for determining wage increases). = The ponference hoard finds living costs rose only 13 per cent here in that period. That's quite a gap.
THEN WHY don’t unions insist on using the government figures which are more to their advantage in pressing for higher wages? Well, the government figures come out only once every three months | whereas the conference board i figures come out every month. |: Thus employees of such firms as Eli Lilly & Co. which have | cost-of-living bonuses, get their | wages adjusted every month by | using conference board figures in- | stead of having to wait three -| months for an adjustment, even | $hough it would be a greater one | now, by using the government
figures.
|
8-8 8 DESPITE these differences, there
is not much doubt that war workers|
are making good money now. It's those on salaries that, get squeezed when inflation boosts the cost of living. President Roosevelt is expected to announce © around ELabor- day ‘new devices to halt inflation. These may include a cost of living board to stabilize wages (to review war labor board ‘ decisions) and stabilization of farm prices by selling govern- > ment-owned grain and subsidizing producers and processors of farm commodities. & = = AN EFFIGY of Hitler and a white elephant are used at the Charlestown, Ind., smokeless powder plant to shame workers who cause production lags. The powder line with the week's worst absenteeism record gets the effigy of “Adolph Shicklegruber.” This shows up workers who laid + off work for no better reason than to fish, sleep off a binge, faked being “sick,” etc. | The white elephant is “awarded” to the line which had the most time-wasting minor accidents during the month. Both ®prizes” are deserved, but not ‘appreciated. by the winners, 8 8B 8
ODDS AND ENDS: Iron Age ex-
‘pects that, steel scrap which England
has imported for years from this country may be shipped back now that we need it so badly. . . The onion harvest is on in the Angola district. . . A “hormon@§ spray which can delay apple ning 10 days is being used in the east. It 4s helpful when labor is hard to find
vin a jiffy, but doesn’t work uniform-
ly on all varieties. . . Sweet potatoes will furnish a third of the sweetening in a new candy coming on the market. . . California almond growers are afraid the forthcoming trade pact with pro-axis
_ Spain ‘will lower tariff on Spanish almonds, “ruin” U. S. growers. . .
* feine, vitamins and medicines. .
J XUGUST FUR SALE *
Brazilian mate (mah-tee) which hasn't gone over so well yet as a substitute for coffee, is being ugged for use in commercial caf-
An safe made of plastics (no iron, no steel) is due soon, Makers claim it will be no ““burglar’s
delight.”
SALARY RAISES ARE REPORTED
Thomas J. Watson Re-
verses Trend by Eliminating Munitions Profit.
"PHILADELPHIA, Aug. 27 (U.P). —International Business Machines Corp. paid its president, Thomas J. Watson, $424,519, including a $360,289 bonus, in 1941, the securities and exchange commission reported today. The bonus, 5 per cent of the company’s profits, was provided in an agreement between IBM and the executive. In 1942, under a plan approved by the stockholders, Mr, Watson’s bonus will be reduced to 215. per cent of the profits and he will receive a $100,000 salary. The agreement contained the following provision: “The additional payments shall include no profit derived from the manufacture of munitions of war as recorded on the books of this company under the title ‘ordnance division.’” Other salareis in the firm's report included Frederick W. ' Nichol, $104,590; and John G. Phillips, $55,072. They were listed only as officers. The Anaconda ‘Copper Mining Co. of Bitte, Mont., paid Cornelius FP. Kelley, $192,882 last year. His 1940 salary was $176,318. Anaconda’s president, James R. Hobbins, received $143,282. Hobbins earned $117,944 in 1940. Robert E Dwyer, executive vice president, received $91,590 as compared with $79,863 in 1940.
Only Indiana executive salary reported was that of D. A. Williams, president of Continental Steel Corp. of Kokomo, who was paid $34,999 in 1941, against $32,500 in 1940.
Other 1941 salaries released by the SEC included: Phelps Dodge Corp —Louls Cates, president, $127,843; Brown, president of a subsidiary copper products company, $65,730;
$60,820. Cates’ salary was $100,520 in 1940.
McCauley, president, $89,232; Mar-
Russell A. Cannon, vice president,
Cauley earned $40,773 in 1940, Rustless Pay Bonus Rustless Iron and Steel Corp. of
manager, - $31,000; C. E. Tuttle, 000 bonus. . Iaclede Steel Co. St. Louis— Thomas R. Akin, president, $64,950; W. W. Scott Jr. vice president, $41,666; W. M. Aikin, vice president, $26,250. The men earned in 1940, respectively, $35,550, $24,000 and $17,000. Anaconda Wire and Cable Co. (subsidiary: of the mining company,
"| but with separate report)—H. Donn [Fu
Keresey, president, $56,806; Harold V. Engh, executive vice president, $46,846; W. E. Sprackling, vice president, $41,906. Virginia—William W. Holloway, Archie J. McFarland, president, $55,331; John Neudoerfer, vice president, $37,750. Their salaries in 1940 were $50,000, $40,000 and $30,000, respectively. . Tennessee Coal, Iron & Railroad Co. (subsidiary of U. S. Steel Corp.) —Robert. Gregg, president, $60,000; Thomas Chalmers, vice president, $20,583. Salaries Reduced American Metal Co., Ltd.—Heath Steele, vice president, $55,670; Bernard Zimmer, vice president, $55,~ 690; William H. Grady, treasurer,
.1$28,750. The figures, on an average,
were $2,000 less than 1940 salaries.
Co—T. H, O'Brien, vice president, $42,500 :
‘| Month Ago.
s.|A Wylie | 4
James. F. McCielland, vice president, | Atchiso
B Birdsboro Steel Foundry and Ma- d chine Co. of Pennsylvania—John E.|B
shall Post, vice president, $57,859;
$24,295. McCauley received a $71,-|& 032 bonus and Post $42,619. Mc- E
Maryland—T. F. McLaughlin, “vice| president, $75,000, including a $40,-|1 000 bonus; G. D. Moomaw, works|nt Nickel
president, $85,000, including a $45,- | Fos
u Wheeling Steel Corp. of West 2x ken R chairman of the board, $62,800; Jn!
Inspiration Consolidated Copper}
i Month ago Sseosscensenssses 157.76
ze
¥ ¥
1940 .. 1944
Wages in Indianapolis factories have gone up faster than the cost of living has here, so that, as of June, factory workers’ ‘real income” was 25 per cent higher than when the war started in the fall of 1939, according fo this chart compiled by Indiana university's sion in adjoining “Business” column, =
bureau of business research. (See discus-
1942
and June, 1942, went to companies duction board's statistics division A table of contracts and allocations by the army; navy, maritime commission, the treasury and for the British empire revealed that Michigan, New York, California, Ohio, Pennsylvania, New Jersey, Connecticut -and Illinois received more than $41,000,000,000 worth. Those states, however, have more than 42 per cent of the nation’s population. Ninth state in this distribution was Indiana, which had received contracts totaling $2,664,758,000, almost half a billion dollars less than Illinois, lowest of the eight heaviest
N. Y. Stocks
Complete New York stock quotations are carried daily in the final edition of The Times.
DOW-JONES STOCK AVERAGES 30 INDUSTRIALS —0.96| —0.45 0.20 + 0.69
Yesterddy Week AO ....co080000000000 106.83 Month AZ0 ...cccccececoes. 105.24 Year AZ0 ......ccooiieveennn 127.97 High (1942), 114.22; Low, 92.92. High (1941), 133.59; “Low, 106.34. 20 RAILROADS Yesterday Week Ago ve 28.88 Year Ago High (1942), 29.01; Low, 23.31. High (1941), 30.88; Low, 24.25. 15 UTILITIES Yesterday 11.44 Week AZO ..coccccesveseee. 11.67 Month AGO ....ccecc0000000 11.84 Year Ago 18.68 High (1942), 14.94; Low, 10.58. High (1941), 20.65; Low, 13.51.
ssscccsces score
Net Last Change 232 — Ya
Ya
“1 Ya
High Low Allis- Chal . 2 23%;
a ¥
THD HEE HE
oe
Goodyear Hecker Prod ..
tt +]
“ee
Lb++4++: +1:
fat Cash Fes, ’ : Dair
No 'v Central . Ohio Oil Owens Ill Glass Packard Pan Am Aitwys Param} Pict 1
RR cee. 32 Pullm
CHEE Pl
+ vl +
Sees ge sees x
0 rest Afr Bie. 14% . 69%
IE salami L299, .. 13%
Young Sheet U. S. STATEMENT
Zenith Rad WASHINGTON, Aug. 27 (U. P.).—Government expenses and receipts for the current- fiscal year through Aug. 25, compared with a year ago! we ear
is Yea Expenses.. $9,366,440, as. 69 42.908. 69, 165. 9 ‘War Spend. 8,427.752,20893 1, 205, Bis, 211.) Receipts. . 1.334.345 ,885.22 1,507.35 1140,003,928.47 . 2, 18 $44 00s. 35 7 3 609,936,033.47 2,536,592,173,40 Work. Bal. 2,847,478,100.42 1,784,468,811.27 Pub. Debt 85,783,522,300.26 57 314.255,710.90 Gold Res. 22,745,949,219.84 22,714,109,493.46
INDIANAPOLIS CLEARING HOUSE
Clearings Debits
DAILY PRICE INDEX
PAE LE HEL
price index of 30 basic commodities,|.
average equals 100). Yesterday ses cv0ccsnonsssnce 157.39 Week Ago - se 600000000000000s 157.70
Year ago sssescsnssinnsae sss 144.74 1942 high (May 9) ese sbsnas 158.34 1943 low (Jan. 2) essvsssenns 151.54
LOCAL PRODUCE
WASHINGTON, Aug. 27 (U. P. nearly $80.000,000,000 in war contracts distributed between June, 1940,
NEW YORK, Aug. 27 (U. P).—|red wh Dun. & Bradstreet’s daily weighted|}
Eight States Get Half of War Contracts; Indiana 9th
).—More than 50 per cent of the
in only eight states, the war prorevealed today.
states. Only two other slates Texas and Washington — received more than two billon dollars in contracts. The statistics released by WPB showed that more than $80,000,000,000 in contracts had been distributed during the last two years and that $77,516,392,000 of them were distributed by the army, navy, maritime commission, the treasury and for lend-lease. Of that 77 billions, $19,571,842,000 was for aircraft and $9,232,176,000 for ships.
PURDUE FORMS SPEAKERS GROUP
Local War Plant Experts Available for Club
Meetings.
Purdue university’s war training division here announced today the formation of a speakers bureau which will furnish, without charge, to service clubs, patriotic and civic organizations,” speakers employed in Indianapolis war industries, Jean Boyle is in charge of the program. Clubs wishing to book a speaker should call at the Purdue war training center, 538 N. Meridian st., or ‘telephone Mr. Boyle at LI. 3548. Speakers and their subjects are: Arnold J. Frey, director of training at Allison, “Employee training in war industry.” L. G. Haggerty, industrial engineer at RCA, “Work Simplineaiion, speeds up war industry.” Lowell L. Holmes, district manager of the Purdue training center, “Lessons we can ‘learn from the war.” 3 J. Hiram Hopwood, of the tool
Yp and gauge procurement department
at. Allison and chairman of the
«| Indianapolis chapter of the Amer-
ican society of tool engineers, “Manufacturing precision: instruments.” P. B. Jensen, plant metallurgist at International Harvester, “Metallurgy’s. place in winning the war.” J. 8. Newcombe, district representative of the Purdue training center, “Women in war industry.” S. Murray Proctor, assistant to the chief engineer at International Machine Tool Corp. “Tool design for war industry.” La Wayne Whiifing, safety director
%lat the naval ordnance plant, “In-
dustry safety, a factor in winning the war.”
GRAIN FUTURES RISE ON BOARD OF TRADE &:.2
CHICAGO, Aug. 27 (U. P.).—En-|¢ couraging war news from the Solo-
board of trade today. At the end of the first hour, wheat
off % to up %; oats and rye un-|y changed to up 3. : In the September contracts, wheat gained % to % cent a bushel from the previous $1.17%@%, corn up % to % from the previous 83% @%; oats and rye unchanged from 48% and 60%, respectively. Grain markets opened sluggishly | a with favorable news and a little buying in wheat attributed to houses
ihg fractional gains in initial trading.
with the exception of rye at Winnipeg firmed with slight gains.
WAGON WHEAT lose of the Chicago jaatiet tony othe oi LE go | elevators S pold $118
| compiled for United Press (1930-33) °***
i
. land livestock prices are now high,
mons and the Russian offensive ac-| EPS, counted for slight gains in grain futures in early dealings on the|ind Gen
was up % to 3% cent a bushel; corn| Lincoln Loan C
2| with southwestern connections caus-| citizen
Grain futures in other markets, Hof o T&T Fi Way
fo 3|N a Tel 88% erits). ng de’
CEILING ON HOGS
‘Floor’ on Price Price May Be Put In to Assure Steady Flow of Meat.
WASHINGTON, Aug. 27 (U. P). —Government control of hog and livestock marketing, now being planned by the office of price administration, may include “floor” well as “ceiling” prices to assure
markets, a high government official revealed today. The minimum price, he said, would be very close to the maximum price, probably within a few cents. The action would be taken to prevent breeders from flooding the markets at the beginning of this fall’s peak marketing season, by assuring them that prices will not go below a set minimum. The official explained that hog
and at the beginning of the marketing season all packers would be offering whatever maximum price is set by the OPA. Breeders, he said, probably would rush their livestock to the markets to avoid a possible later drop in prices and would thus unbalance the market, Establishment of a minimum price schedule, he believed, would persuade farmers ‘to hold back their hogs and cattle and market them in the usual manner. “The OPA announced last night it was working on definite plans for
similar action is contemplated in the near future for cattle prices. Deputy OPA Administrator J. K. Galbraith said the ceiling plan would be worked out “in conjunction with” representatives of livestock producers and that “producers may depend that anything in the nature of surprise action will be avoided.” The plan, when completed, will be
ture Claude R. Wickard. Mr. Galbraith has been meeting
ducers for the past three days. The delegation came to protest against the proposed price ceiling. Thé OPA official had outlined to the group steps for revision of ceiling prices on wholesale meat so as to eliminate price inequalities between various regions—a discrepancy which had caused shortages in some places. He asserted that “vigorous steps”| are being taken to enforce the quality grading provisions of OPA’s beef regulations in order to prevent upgrading as an evasion of price levels. He said OPA hopes to maintain grade relationships prevailing last March. ‘He asked the delegation to “exercise normal caution and avoid paying high prices” for feed as a means of stabilizing the market and preventing price “squeezes.”
LOCAL ISSUES
1 quotations furnished by - local wy ne National /Association of Sesurities Deslers, os Bid Ask R Stk Yds com..ccc... 53 Belt RI 3 56
Reahh 5000S
Circle Theater com Comwlth Loan 5% pf «
Prd iiieees Water Class A com .. 1
Indp Is Water 8% P S%% pid. 83
*Pub S So Ind Union Title Co ¢ Unie 2 a Co Co 5%
Van Cam Van Camp Milk pom oe y Bonds
Algers Wins'w W RR 4%% .. 99 Amerionn oan B18 10 88 Cent Foy aper 42s 42-51 = a Bldg Co 4%s
Sh s dna: is 61 en Consol Fin 51
5s 50 Cah Wayne she 85. “103 ST Weyne 5s 43 ..103
2 te nthe a
sassese re
cesses .108
n ‘you can manufacture any of these materials, contact the wir} production board, 10th floor, Circle Tower building, Indianapolis Aster | ak indfontes plans and specifications are ou lls thers. :
be a ces Thabane tus es mare: 3 Cloth, gi Brie
is It.
‘| tion reported. Weights between 160 and 260
| low yesterday with the greatest de- ‘| cline on lighter weights, Weights
AND CATTLE DUE
asim
#50 350 pounds steady flow of on-the-hoof meat to Slaughter Pigs
13
price ceilings over live hogs and said ausa,
submitted to Secretary of Agricul-| Goocd—
with a delegation of livestock pro-| uo.
125 cents lower; Jjger hy
4 heifers down to $8; common and medium
2 |[ncorporations
1H eral a gen ? Metals
PRICES ON HOGS
| DECLINE HERE | ,
Lighter Weights Quarter ||
Under Yesterday's Quotations.
agricultural marketing administrapounds were steady to 25 cents be-
over 260 pounds were unchanged while those under 160 pounds fell a quarter. The top was $15.
HOGS (9200)
[email protected] . [email protected] [email protected]
sscs®osvescs sevssssesense sevessassssee sass everssee
330- 360
Medium-— '160- 200 pounds
Packing Sows iss seravenne [email protected]
.. [email protected] «0 [email protected] [email protected] Good and 270- 300 300- 330 330- 3 360- 20
13.70 13.40
cse0 ees tsvse
14.00
Co 450 d - UNAS css0s0s00000s Lod rH 14.00
450- 5% pounds . seeatee
Medium and Goad 90- 120 pounds
CATTLE (1225)
. Slaughter Cattle & Calves Steers sosese esses. $15.00@ 15. 75 «so [email protected]
15.25 16. 5 15.26
13.75 13.75
fen )- 900 1100
-1500
00 900 900-1100 1100-1300 | 1300-1500 Medium-— 700-1100 1100-1300
70 90 1100-
pound.
IS ce0vccececss 15.00
ls is . 1s 15.25
13.76 14.00
. 14.00 12 90
pounds pounds
ssesc0eosene
Common— 700-1100 pounds AE ooo Heifers Choice— 600 800 pounds 800-1000 pounds Good — 600- 200 pounds ... 800-1000 pounds seesesssseaee Medium--' 500- 900 pounds .... Common 500- 900 pounds Cows (all weights)
eees [email protected] «oo [email protected]
.. [email protected] [email protected]
[email protected] [email protected]
stseevee
PRenn [email protected] 7.75@ 9.50 5.50@ 1.75 Bulls (all weights) (Yearlings Excluded)
vee. [email protected] |. [email protected] 8.50@ 9.50
CALVES (525) Vealers (all weights)
Common and medium Cull (78 lbs. up) Feeder & Stocker Cattle & Calves Steers Chole ce— 3 00-800 unds 200 1050 vn A vee
[email protected] «eo 12,[email protected]
[email protected] [email protected] [email protected]
800-1050 pounds . Medium— 500-1000 )_pounds .
Calves (Steers) Gaod and Choice— 500 pounds down Medium— 500 pounds down , Calves (heifers)
Good and Choice— 500 pounds down “[email protected] Medium—
500 pounds down . [email protected] ' SHEEP AND LAMBS (1725)
Ewes (shorn) Good and choice Common and choice Spring Lambs
Good and choice Medium and good Common ...
CHICAGO LIVESTOCK
' Hogs—Receints, 10,000. Slow, weak to 10 cents lower; good and choice "180-240 1bs., [email protected];. top, $15.10; 240-270 1bs., [email protected]; 270-330 1bs., $14.50 to $14.75; sows steady, good and choice 330 lbs. down, [email protected]; 320-400 1bs., JHol. 35; good 400-500 1bs., $13.75 to $14.1 Sheep—Receipts, 2500. wring lambs opening 15 to 25 cents lower; several bunches good and choice trucked-in natives, $14.85; better kinds held upward to $15; small lots medium to good slaughter yearlings, $11 to $11.50; with most mixed weight slaughter ewes, $5.50 to $6.50; choice lightweights, $6.75. Cattle—Receipts, 5500. Calves—Receipts, 700; strictly good and choice fed steers and yearlings fully steady; active ‘on order huyer and shipper account at $15.50 upward; top, $16.60 for choice to prime 1253-1b. averages; choice 1036-1b. yearlings. several loads on outside account, $15.75 to $16.40; mostly light and medium weight cattle; medium to average good grade slow; steady, $14.50 down to $13; choice heifers steady; 960-l1b, offerings, $16.50; several loads, $15 to $15.25; all other heifers weak to 25 cents lower; selling mostly at $12.75 to $14.50; cows about steady; cutters, $8.75 down; most fat COWS, $0.25 to $10.50; weighty sausage bulls fully steady up to $12; light kind dull from [email protected]; vealers Sully ste steady at $15 to $16.
OTHER LIVESTOCK
CINCINNATI, Aug. 28 (U. P.).—Hogs— Receipts, 2775; weights over 150 lbs., 20@ his, 25 cents
$14.75 paid for ood and choice 180-22 Ibs; 225-250 Je. 14.65; 250-275 1bs., $14.45; 275-300 $14, 25: 300-400 1bs., $14; 160-1 80 1bs., sid a; ‘medium and good 150-160 1bs., $14.25; 1 0 $14; $13.50;
Cattle—Receipts, 350. Calves—Receipts, 300; relatively little on sale, grade average continued low; common and medium steers and heifers, '[email protected]; baby beef type calves and good 4-H club steers, $13.75 and cutter steers
[email protected] [email protected]
5.25@ 5.
[email protected] [email protected]
lower; sows steady; to
@14.50; canner and beet cows, [email protected]; good cows to S105; Santer and custer cows, $6@9; common good sausage , $9.50@11, 50:3 vealers ny top, $15; pro and choice, $15@16; out grades, $14.50 down. ig S20. spring lambs, steady; good and choice springers BD 815 15.50; top choice lots believed salable higher; common and Tied 12 gia grades, $14.75 down; fat slaughter ewes,
Alvin C. Ustermeyer, Jadianapolis:, mark, “Commod:
oe
Concrete Sulvert Co., Illinois corporation; af mitica to manuNe re-enforced ad a products, and engage business.
Nevada
as, ARNT
ayne; an a.
A common stock 51 chafing author $10 Dar valu. : .
e Kiwanis Club of Elkhart, Indians, tno, Hotel Elkhart:
to Se 9] ei SE ba
| Hog prices fell as much as 25 .| cents from yesterday’s prices at the '| Indianapolis stockyards today, the
stock;
0.SOGLOW
some. rud
“Warn't doin’ ann srong—jes tryin’ to make :
CUT STATE'S SHARE |OF FARM BUYING AID
Times Special ; WASHINGTON, Aug. 27.—Indiana today allocated $607,747 of the $32,500,000 appropriated for the (1942-43 tenant purchase program. The state's share of the $50,000,000 appropriated last year was $939,065. 1 The $32,500,000 is estimated to finance 7000 family-type farms. Under the law distribution is made on the basis of ‘farm population and prevalence of tenancy. Loans are made by the farm security administration over a 40-year period at 3 per cent interest. Under this program 29,000 farm families have been aided to ownership during the last five years, FSA officials report. Loans averaged $5570, with $3800 being spent for farms and’ $1770 buildings. Farms averaged 128 acres. Under a WPB order expenditures are limitea to $500 for dwellings and $1000 aggregate for buildings on tenant purchase farms. "The Illinois allotment was $1,110,031; Kentucky, $1,099,833; Ohio, $752,605, and Michigan, $778,219.
BUSINESS AT A GLANCE
By UNITED PRESS
subsidiaries 6 months ended June 30 net income $1,292,247 or $1.76 a share vs. $2,348,318 or $3.20 in the 1941 period.
Canada Wire & Cable Co. 6
‘months ended June 30 net income
$304,919 equal to-$1.01 a share vs. $418,475 or $1.77 in the 1941 period. Coty, Inc, and domestic sybsidiaries ‘6 months ended June 30 net income $311,036 ejual to 21 cents a share vs. $351,148 or 24 cents in the 1941 period.
Li American Cyanamid Co. 6 months
ended June 30 net income $2,089,001 equal to 69 cents a common
50|share vs. $2,592,762 or 91 cents in
the 1941 period.
Aunor Gold Mines, Ltd., 6 months ended June 30 net profit $262,723 equal to 13 cents a share vs. $180,068 or 9 cents last year.
Coleman Lamp. & Stove Co. excluding British subsidiary, 6 months ended June 30 net profit $206,579 equal to $2.07 a share vs. $367,272 or $3.67 in the 1941 period; net sales $3,978,919 vs. $3,460,015. Great Northern : Paper Co. 6 months ended June 30 net profit $848,214 equal to 85 cents a share vs. $1,228,485 or $1.29 last year. Louisville Gas & Electric Co. (Ky.) and subsidiaries 12 months ended June 30 net income $3,021,337 vs. $2,791,320 in the preceding 12 months. Gre
Pepperell Mfg. Co. fiscal year ended June 30 net profit $1,965,145 equal to $20.21 a share vs. $1,868,543 or $19.22 in the preceding year.
Tennessee Products Corp. 6 months ended June 30 net profit $304,785 equal to 49 cents a share vs. $205,649 or 33 cents in the 1941 period. Net sales $4,581,012 vs. $2,722,022.
Jewel Tea Co., Inc., 28 weeks end-
hi ed July 18 net earnings $593,752
equal to 86 cents a common share vs. $758,032 or $1.35 last year. Pet Milk Co. second quarter net profit $380,031 vs. $188,788 in the previous quarter and $606,417 in the 1041 period; net sales $16,822,735 vs. $15,177,261 and $15,061,478, respec-. tively; 6 months ended June 30 net profit $568,819 vs. $683,937 last year. South American Gold & Platinum Co. and subsidiaries 6 months ended
June 30 net profit $97,988 equal to
5 cents a share vs. $417,152 or 24 cents in the 1941 period.
CARGO INSURANCE CUT
NEW YORK, Aug. 27 (U. P).— American marine insurance under-
per cent on some routes today, because improvement of the convoy system had cut ship losses. The rate was reduced from 25 per cent
General Aniline & Film Corp. and!
Pe ; Fill That Lunch ® 7 9 Box Right'—Heiser FRENCH LICK, Aug. 27 (U. P). —Asserting that the man on the industrial front must be at top efficiency just as the man at the fighting front, Dr. Victor G. Heiser, noted industrial physician, to‘day told manufacturers that “a properly filled lunchbox for the worker will increase production and speed the cause of victory” = Dr. Heiser, consultant to. the National Association of Manufacturers’ committee on healthful working conditions, reporting to the N.A.M. wartime institute on industrial relations being held here, said that the eating habits of the working man must be ‘planned as carefully as those of the fighters and asked manufac‘turers to seek “optimum” health for the “man behind the man behind the gun.” “Already it has been estimated bs that workers in war industries (who will number approximately 20,000,000 by the end of 1943) will lose upwards of 80,000,000 manhours in 1942 because of industrial accidents and illness, mi of which could be traced, directly or indirectly, to malnutrition; 3 Dr. Heiser declared.
SHORTAGES CRIPPLE THIRD OF WAR FIRM
NEW YORK, Aug. 27 (U. P.)— One-third of the war plant execu tives questioned by the National Industrial Conference board report~ ed that they had had to eliminate shifts or reduce working hours in recent weeks because of shortages of basic materials and labor. Sixty per cent, the board announced, reported they were handicapped by “a shortage or erratic flow of raw materials.” A shortage of labor handicapped 25 per cent. “Many of those reporting no curtailment foresee the necessity of such action if present conditions continue,” -the board said. “Ex« amples of a sustained increase in war production are also cited, particularly where the shift to war production is still under way. Dif= ferences in experience are partly explained by the extent to which total production is covered by top priority ratings.” ; Some executives blamed their troubles on “faulty distribution delays in allocating present supe plies.” Others felt that there were too many top priority ratings, particularly of steel. Still others criticized the war production board’s production re= quirement plan. They said it took too much time to get essential ma= terials allocated. Generally, the principal labor shortage was of skilled workers.
7,000,000 PINE TREE SEEDLINGS PLANTED
CHICAGO, Aug. 27 (U. PJ. Masonite Corp. has dis without charge more than 7,000,000 pine tree seedlings to
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given away this year, and Ce similar amount had been purchs for distribution next year. The company, - which manu tures wool fibreboard. Laurel, Miss., conducts its refor tion program in close co-ope
writers reduced war risk rates 5|f
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Ls Bonds of the sited is Territories and
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