Indianapolis Times, Indianapolis, Marion County, 6 October 1942 — Page 10
vi ries and Wie to Issile’ Regulations in Line With FDR Poly; Non- Union Salaries Below $5000 Can Be. Raised. Without Approval,
WASHINGTON. Oct. 6 (U. P.)—Only the salasied worker earning less than $5000 a year who is not covered by a collective bargaining agreement can get a raise without war labor board approval, officials said today.
~The full effect of the executive order issued by Presi-| | x dent Roosevelt will not be known, insofar as wages are con-|
cerned, until ‘the war labor board drafts répulations for carrying out! policies laid down by the cllief executive.
gon ware. wr music| 0 PRICES DIP 10 70 15 CENTS
‘defined by: the Sxerutive order _ as remuneration for: personal Top at Local S Stockyards Declines to $15.25;
services regularly paid on a weekly, monthly: or ‘yearly Vealers Steady. Hog prices turned 10 to 15 cents
basis. ds A A high official emiphasized: that lower at the .Indianapolis stock|yards today, bringing the top down
the executive order was a policy order, rather than a regulatory order, leaving - the actual regulations to the decision of Economic Directo $15.25 for good to choice 240 fo 280-pounders, the agricultural marketing administration reported. Vealers were steady with a $15. 50
tor James F. Byrnes and the | agencies directed to carry them out, top. Receipts included 10,275 hogs, 2150 cattle, 600 calves and 2150
such as office of. price -administra~ sheep.
tion and the war labor board. Definite provisions: of the wagesalary sections of the order which needed ‘no further. clarification, officials said, were: 1. No salary increase may be granted those earning more than $5000. unless approval ‘is given by the economic director.’ The WLB has no. jurisdiction over Jetermining the validity of such increases.|Good to The economic director is charged personally with determining| whether the increase is. warranted, as in instances where the individual has been assigned to more gto or responsible work. © ° 80-200 pounds
Individual Raise 0. K Packing Sows
2. A salaried worker earning less ; than $5000 can be granted an in- Good et crease by his employer without the| 300- = 330 pounds process of obtaining WLB approval, | 36)- 400 Pounds ae avee taseash [email protected] * provided the employee's salary is|Good not determined by collective bar-| iu: 450 Bounds «.ovvo eo. 1001S gaining. In cases where the salary | Medium— ds fixed by collective bargaining, in-| 250- 550 pounds creases cannot be granted without | Slaughter Pigs approval of WLB, unless such in- Medium and Good crease is obtained by the individual. “3. No increase in wage "rates, ; CATE (2150) whether they be by voluntary Slaughter C3ttie 3 Calves agreement, collective bargaining, | Choice— . conciliation, arbitration, or other-| g0o-,%00 Bounds ©0000" were [email protected] wise, can be granted until athority | 1100-1300 "pounds ¢ is obtained from WLB. Sy «1500 pounds ess [email protected] Meantime, ‘any wage Increases| 700- 900 pounds ............. [email protected] granted since Saturday and until oo 2it0 Ne pounds secvessenees - 13. Row such time as the WLB sets up ma-~|1300-1500 fade aes vee [email protected] chinery for passing on all such in-{Medium— Creases, apparently would be ille-| 700-1100 pounds . gal, an official said. Violators could 1300-1300 pounds be je: subject to $1000 fine, or one y€ar| 709.1100 pounds .......... oe [email protected] Heif : hi appeared likely that the WLB|Cholce— in uld have to draft new policies 600- 800 pounds ......ccvoees 14.00 yo 00- 1 0 d Teese nne 4 in carrying out the spirit of the a pounds Hu policy laid down in the orders.| 6oo- 800 pounds .... Chairman William H. Davis of| 800-1000 pounds . WLB announced last night that no Medium 4 questions concerning the order 00- 900 POUNdS ..eosesacoce
HOGS (10,275)
Choice—
00 pounds .. 200- 220 pounds .. 220- 240 pounds ... . 240- 270 pounds ... oe *270= 300 pounds ....ceoscsee 300- 330 pounds ..... eheane ons 10 -339- 360 pounds [email protected]
3
[email protected] . [email protected]
tees ccsnssens
18.00 15.00
sessssees [email protected] . [email protected]
William T. Morris, U. 8. mail trutk driver at Oceanside, L: I, feveived the maritime cominission’s “~ ; award yesterday in. ceremonies on the lawn in front of his home. During his spare time he has been turning out steering wheel spokes ands “other wooden ‘items for the nation’s ships.’ His ‘factory” is the
basement of his home.
Mr. Morris," who not only wen the “M” pennant but also was given the labor merit badge for production excellence is shown at his regular Job of carrying: mail.
N. Y. Stocks
would be answered by board mem-| 800 $00 pounds bers until rules and regulations are Cows (all weights) promulgated.
[email protected] Little Steel Policy to Hold
9:[email protected] | . 7.50@ 9.50 It was possible that the cost of living policy laid down in the Lit-
Medium Cuter and common Bulls (all weights) (Yearlings Excluded)
Complete New York stock quotations are carried daily in the final edition of The Times. .
5.75@ 7.25 tle Steel case would survive and [email protected]
be a ruling factor in any increases which. may be granted. However, the principal factors to be taken into consideration are whether the wage earners asking increases are suffering : inequalities, or are sub-| Jected by their present wages to substandards of living and gross inequities. “An important factor in the execu- * tive order is that no salaries or wages shall be decreased except to correct “gross inequities.” The order set as a floor the wage or salary level of the individual which was| Medium— highest during the period Jan. 1,| 500-1000 pounds 1942, to Sept. 15, except for those|S, who receive in excess of $25,000 after allowances for taxes and certain other items. It appeared that automatic wage increases - provided. under existing labor contracts—for seniority, transfers or other causes—would. have. to be passed on by the WLB before they could be put into effect. A WLB spokesman ‘said one of the first questions the board would have to decide would be ‘its policy on this score. :
~ U.S. STATEMENT WASHINGTON, Oct. 6 (U WF ),—Govexpenses: rece; fiscal “year A a ipa. ihe ‘year ago: Shue Year : Last Year . $18, 601,829.87 ,277,219.9 iipens. 1H 346,083,969.34 ,606,447, 330.50] 10s 3 91 ,042.770. 44
[email protected] . [email protected]
Good (2 (all weights) «.. Medium
Cutter and common CALVES (600)
Vealers (all weights) A Sood and choice . $15. [email protected] mon and medium 14.00 Solr (75 1bs. up) 10.00 Feeder & Stocker Cattle & Boel Steers Choice 500- 800 pounds ....e.sseees 12.00 800-1060 pounds . .e ssessvesncn 11.75
A 13.00 12.75
cssssessceee 11.00012.00
Good— y 500- 800 pounds . sessssesssses [email protected]
800-1050 pounds ssssscensesss [email protected]
Calves (steers)
Good and Choice 500 pounds down eee [email protected] Mediume— 500 pounds down .. .« [email protected] Calves (heifers) Good and Choice— 500, bounds dOWD ceeseetisn. [email protected] 500 pounds down ...... essnns 10.0012.
SHEEP AND LAMBS (2150)
Ewes (shorn)
Good and choice Common .and choice +Spring Lambs Good and ' choice 14.25 Medium and. good 13.75 COMMON “cece ensrsssnamsynrsn [email protected]
baton Shuts, a an on Monday's a e 2300. 10@15 cents off; he 200-260 Foss: [email protected]
\Hogs— cents hie few early «
and choice $15.35 Paid ep
; ik del 13,040,445, 303.86 3354, '500.20| $14. 758 15.10; 10; Beeches; top, os. hs; aos, oor oi. 97 gh weight s0WS, $15.25 ,259,725.92 e—11, 000; calve: es, 1000; . strictly 58,359,437,015.33 Ee eekving B¢ steers and Jeatlings in-] 23,761,321,333.50 KE ras Re sad;
poke and" i Thi OTS . most. decline; top steers, $17; 3 lo t at‘that price; several @1 85; best ab: “ball” 10 ; Yearlings, Hn: Year lings, 10 good Sows,
we 38.8 w os; ol r trade on Stock. cattle at. $11. : late Monday: All classes around gp Sholes 79-4 79-1b. : ce na ver, Mall 15; few choice lots, tse: throw. a. 3 » 50 dows: Pe =e sits sar: 5@6. Todays ood a ter "awe on weak to 15 cents lower: at 8 150 14; to choice st: to unevenly
14.25 for best kinds; small Ss an ewes steady.
OTHER LIVESTOCK CINCINN; TI, Oct. 6 ~—H
P:
13,692,000
oe
COWS, SCar A with good Westin. COWS
cows Eve $11
na her ws 8 year
Allegh Co . Allied Chem . hal
8 Douglas Airc. 68% Dow Chem ...
Elec Autos: oe 28 Gen Electric...
Indpls Pw & Lt 11 Int Harvester.. 28 Int Nickel
CHICAGO LIVESTOCK i
ard Pan Am Airway
Net Last Change Ya Juve -_ Ys —1%
se
+ Le
Borg Warner...
Bdgpt Brass ..
Chrysler Comwlth & Ro: 7
Pont ast Kodak.
LELLEL LL
.
Lae BUREN = w
141;
Fiisdidladys
“0 eriete «sw “woe
Paramt Pict .
a ee,
Sri ELL+
e, steady: |Socony Vi
* per cent of parity loan basis dur-
Incorporations
% soR} dissoluti
{the Dow theory say the averages
GRAIN PRICES TURN HIGHER AT CHICAGO
CHICAGO, Oct. 6 (U. P.).~—Grain markets made fractional gains on the board of trade today. July: wheat was independently easier. At the end of the first hour, wheat was off % to up % cent a bushel, corn up % to 3%, oats up % a %, rye up % to 3, and soybeans 15 to % cents a bushel.
vs Ne official decision was reached overnight toward clarifying ceiling and floor .levels but traders spoke of Secretary of ‘Agriculture Wickard’s speech. at. Peoria in which he seemed to favor maintaining the 85
ing 1942.
LOCAL PRODUCE
‘Heavy breed hens, full-feathered, 17c, Leghorn hens, l4c. Springers, 11% Ibs. and over; colored, 18¢c; barred ard white rock, 19¢; oheLs, fc. All No. 3 poulry. 3 cents s—cCurrent receipts 54 los. and “up,
0c. Graded Eggs—Grade Ala : grad A, Medium, 36¢c; ro A, ig a 45¢c;. no
grade, eter oNo. 1. @48%c: No. 3, 460 46%c¢; butertat, NY 1, 48¢c; No. 2, 4c. (Prices on produce delivered at Indian. apolis “quoted by Wadley Co.)
Inc., AnderW. M. Sample Co., Inc., Muncié; dissolution.
Lawson's C redit Jewelers of Richmond, Ind., Inc., State Theatre bldg., Richmond; agen ent, Lakson Jaffe, 206 Walnus st., Maz. cie; 250 he of 2 S10 par value; C. BE. Hathaw! Tyna senthal, Lawson Jaffe. Indianapolis Vicor Rollers, Inc., QGuilege ave., Indianapolis; agent, Howard D. Perkins, same address; no Japitsl stock; E Ralph Wycoft, Johnie Carroll, Howard D. e
I lation of Retired Railway Employees, Inc., 105 8. Meridian st., La a no capital stock; J. L. Lowell, allace, George W. Christian.
Net
- Seybelt's Radio Service,
Low [%
Last 30
29% — Vy jin
United Aircraft 0) — Un Gas Imp... 4 - E 8 Rubber .. US ‘Steel
1
= Schwab's $3, 000,000 re _ Knocked Down for $57, 7 50
VERE “ee LE
‘3
tissrusresrsncenns
Houses ndustrial
Applied for Jobs.......
LE ERE csssussassssnssees
eesessssuestess esses
SBsssseusOEIRRs RRL ORS
Freight Carloadings: Inbound Outbound
‘| "Water Pumpage (gallons).........
Telephones in Use (Oct. 1)... Livestock Receipts (head)......v...
Cattle
Corn “Wheat
Indianapolis office of the Illinois Central, Chicago,
ANOTHER STOCK BOOM COMING?
Followers of Dow Theory See Signs of a Bull Market. By ELMER C. WALZER
United Press Financial Editor NEW YORK, Oct. 6.—Followers of
apolis Power & Light Co.
WICKARD TO SEEK CIVILIAN FOOD GUT
CHICAGO, Oct. 6 (U. P.).—Secretary of Agriculture Claude R. Wickard told the American meat institute last night that he will propose reduced civilian consumption of additional essential foods to assure adequate supplies for American and ‘allied armed forces. Addressing the institute’s 37th annual convention, Mr. Wickard said he will offer the proposal “even though some people will think it is an unwarranted cut.” “We can reduce our consumption of a number of essential foods,” he said, “and still be the best-fed nation in the world. I am going to propose this reduction and do. all I can to see that this country stores up reserves . . . against the’ time when farmers will not be able to break production records every
have now given a signal that this Is a new bull market. Advances from now on however, may be small, they assert, and they warn also that a setback could oc-
cur. Nonetheless, they hold, the main trend is upward. The Dow-Jones industrial average closed last night at the highest level since Jan. 15 at 111.93, off 2.29 points from the year’s high made on ‘Jan. 5 and up 19.01 points or 20.46 per cent from the year’s low made on April 28. The railroad average closed at 28.80, a new high since Feb. 5, off 0.21 points from the year’s high, and up 4.49 points or 19.26 per cent from the year’s low. The trader in Barron’s has the following comment on the market: “The stock market has advanced far enough and long enough since the low of late April to give every assurance after declining for 31 months thatt is'engaged in » major upward swing.
Expect Public Back
“What it is undertaking to discount is immaterial.. Fundamental justification for the movement has existed for months in the relationship between stock and bond. yields. Further progress may be slow. for the time being and there is always ‘the possibility of a readjustment coming in the wake of a temporary: buying climax. “In the long run, however, as unbelievably defeatist sentiment of’ the past three years vanishes and the momentum - of normal American buoyancy gains ground the advantages of stocks over cash are: likely to become increasingly marked.” Brokers believe circulation of statements such as the foregoing from authorities on the averages will bring in wider public participation in the market. Wall street already notes heavier buying by the so-called public without which, market men say, there can be no. bull market.
Wickard failed to specify the fc. . items on ‘which he will recommcad - curtailed use. He warned, however, that the nation cannot continue to raise farm products not essential to the war effort, because the available manpower, land and fertilizer is “not big enough to go around.” He said he would approve ceilings on livestock prices providing a “practical. plan” could’ he worked out, -but would ‘suggest “rice supports for hogs and cattle -at ‘the same time.
URGES FARM MIGRATION PEORIA, Ill, Oct. 6 (U. P.). — Secretary of Agriculture ,' @laud Wickard recommended today that the nation’s agricultural manpower shortage and rural slums: be abolished simultaneously by. migration of 2,000,000 “underemployed. farm families” to better land.
Bond Outlook Gloomy
As stocks rise, the prospects for the bond market aren't rated as highly as they were recently. Moody's bond survey in its curno|rent issue continues to recommend| a cautious near term view toward speculative railroad bonds. The survey concludes: “The fundamental elements of the bond market's statistical . position have become steadily more unfavorable to the price structure. This, of course, is nothing new; it has been pointed out frequently in the bond survey. Nor does it mean any sudden or important near term change in the bond market's: general price level, : “As pointed oui before,:the. . prospect is that the movement toward lower prices will be gradual, principally because of the steps taken by the monetary authorities to temper the unfavorable fundamental trends. “However, the steady - drain - of funds away from the money: centers as a result of the large-scale: financing shows the need for;a wide distribution of new treasury issues in areas outside New York: and - Chicago.” ES
_| BUSINESS: aT. A GLANCE :. ‘Columbia Pictures Corp. and sub-| sidiaries 52 weeks ‘ended - June 27 net income $1,611,659 vs. $552,143 in the year ended June 28, 1941. Patino Mines 4 Eaterptisss Gon. solida: (Inc.) months. ended fo a i ‘net income in] Catrensy, $3101.54 ve ALIA In) + Xe
: . Postofice Receipts sesverasitasbens Building Permits seennieve ene ierey >
Filed Unemployment Claims.......
sss ssssnsesee.
Electricity Output (by kwh).....:.. 16,873,000 281,730,000
Streetcar Passengers’ (Sept. 24)...
8s ssssRs ess RRsBREeRRRRS
Hogs vases ress vera s setae Sheep BIB FFRBIN IIB RBIERIRRNS Grain Receipts (bushels)........... Rye vaiisssararasesasereansaine
Soybeans Mass savessssass eens
Sources of above figures: Indianapolis Clearing House a gsociation, India U. 8. Employment service, Pennsylvania railroad indianapolis & Louisville (Monon) ; Water : Co., Indianapolis Railways, Bell Telephone Co., Agricu iture
s16080000 $8997.00 $118,572 $93,059 $86,580 $124,910 $54,700 $91,700 0 0 $3,500 » $25,000 $23,000 0 0 $3,380 $4,210 1,014 1,028 735 742 109
4,411 2,718 15,289,000
4,147 2,832
1,917,200 1,417,885 +119 67,353 7,707 2,973 45,711 10,962 1,007,000 786,000 101,000 104,000 2,000 14,000
64,647 6,681 3,073 45,545 9,348 549,000 365,000
7,226 2,800 52,706 10,690 661,000 540,000 20,000 90,000 8,000
3.000 35,000
New Yor!
Nutrition Plan Helps at Servel
CHICAGO, Oct. 6 (U. P.).~— George S. Jones Jr., vice president of Servel, Inc. Evansville, Ind, said today that poor health, malnutrition and absenteeism are robbing American war industry of 24 million man-hours every month Mr. Jones told the American Gas association convention that 90 per cent of all time lost in war production was due to illness, with 35 per cent caused by common colds. He predicted that 'a national “government-inspired and govern-ment-sponsored” nutrition-in-in-dustry-program- which gas utility companies are making available to war plants will “save at least 80,000,000 working days on war production lines.” Mr. Jones declared that ekpetis mentation with the industrial nutrition plan at Servel’'s Evansville plant had cut absenteeism 16 .per cent in four months.
DAILY PRICE INDEX NEW YORK, Oct. 6 (U, P.).—~Dun & Bradstreet’s daily weighted price index of 30 basic commodities, compiled for United Press (1930-32 average equals 100) : Yesterday 160.73 Week 880 ......ev0000s0000. 161.08 Month 880 ......ceeereecens 158.79 Year ago ceneases sus 14893 1942 High (Oct. 1) seevonese., 16145 1942 Low (Jan. 2)
HEADS FOREIGN BRANCH WASHINGTON, Oct. 6 (U. P.).—
The war. production board has-ap-|.
pointed Thomas R. Armstrong, associate head of the producing de-|e
partment of the Standard Oil -Co. | 0
of New Jersey, chief of its foreign requirements liaison branch,
NN
action,
269,220,000 10,165,720,000
+201
124,000
165,199 104,836 548,901,000 10,784,600,000 67,452,783 118,327 2,242,019 252,106 120,495 1,633,990 238,618 25,574,000 17,792,500 6,587,000 4,364,000 / 2% . 320,000 461,000 504,600 stoffice, city building commissioner, tral railroad, Baltimore & Ohio,
51,421,075 108,518 2,203,587 116,927 1,625,982 225,639 2,466,000
eting service, Indianapolis Board of Trade, Indian
$700,000 OF STATE HIGHWAY WORK LET
Award of paving contracts for ) $700,000 in Vanderburg, St. Joseph and Johnson counties was ane nounced today by 8S. C. Hadden, chairman of the state highway commission. The contracts included: Vanderburg county—Paving .785 mile of Diamond ave., Evansville, from Stringtown road to U. S. route 41, and 416 mile on U, S. route 41 at the Republic Aviation Corp. The contract, for $75,466.85, was awarded to the Pioneer Construction Co. Evansville. . Completion date is June 1, 1943, \The Bontrager Construction Co., Elkhart, was awarded a contract for $48,802.75 for South Bend paving work. The Calumet Paving Co, Indianapolis, and Berns Construction Co., also of Indianapolis, were awarded contracts for $509,166.99 and $105,879.29, respectively, for work in Johnson county. Mr. - Hadden said the highway commission will receive bids for paving and road improvement in Lake, Vermillion, Cass, Miami and St. Joseph counties. Work on which bids: will be received includes surfacing of Riley. road and Canal st. in East Chicago; widening and paving Indiana 63 between U. 8. 36 and! Newport in Vermillion county; paving and relocated section of Indiana 218 in Cass .and: Miami counties, and the widening and surfacing of a section of U. 8. route 31 in South Bend. 4
or Ytgo WHEAT to the close. of the Chi market i Indianapolis flour Chicago 1 n leyators paid $1.26 pe k bushel for 8
oats, on, heb No.
Biogen adv fi stint more than. 6,500 fire hy- -
drauts in Indianapolis are on the alert— each located to give efficient service and
help safeguard precious property and sho. vical: flow, of war. matesiale; Holp
stop fire before hazards around. ‘your hte and place of : business. Don’t let rags, rubbish and
Throw Jour
it ‘starts. Clean up fire
. “papers. seeumiute” Reng 4 clean’ : propety. ado lume