Indianapolis Times, Indianapolis, Marion County, 7 October 1942 — Page 8

services and allotments for their

($1,000,000,000,000).

money. said,

savings, will create ‘economic stabilization program.” . "He advocated ‘higher social security taxes as a further anfi-in-

flation brake. Revise Estimates Upward

The estimated deficit for the fiscal year which ends next June will be $63,060,000,000. That will send the national debt to $140,051,000,000 by June 30, 1943, when the current fiscal year ends. The national debt as of Oct. 3 was $91,227,000,000. Revised estimates were announced by the budget bureau with an ex- . planation that the upward trend was in war expenditures. President Roosevelt estimated those expendi- ~ tures at $58,000,000,000 last January. He revised them upward to $70,-

- $78,000,000,000 today. Smith said the - increase - was

‘caused by expanding war produc-|.

tion, - higher pay for the armed

dependents. ‘New estimates .included $700,000,000 for subsidies: including war risk insurance on cargoes ‘and ocean freight and on transportation of coal and petroleum.

Six Billion a Month

September war expenditures agSregated $5,500,000,000, up from $1,- ' 800,000,000 the month Pearl Harbor was attacked. They will go to $6;000,000,000 a month by Jan. 1. Since June, 1940, congress has authorized $230,000,000,000 for the ‘war program of which $50,000,000,000 had been spent up to Sept. 1, Much of that went for new plants now going into production of munitions. Smith said non-war expenditures were being reduced despite the interest load of nearly $2,000,000,000 for the national debt, after deducting interest charges and trust. account operations amounting to’ $1,198,000,000, non-war expenditures for this fiscal year now are ‘estimated at $4,194,000,000 c ed with $5,125,000,000 in the last fiscal ‘year and the $4,392,000,000 : estimated for the current fiscal year by

* Give Financial Report Here is the budget bureau’s report on war financing in millions of dollars:

Classification Fiscal Bscal 1943 Roosevel 3 ed (actual) Love estimate xpenditures: ar seraene .s 428, 3 $ 53, 7868 §$ 78,000 Non-war Sevananse 7,281 1s TOTAL vesess. $35,401 : 63,067 § s 85,183 Financing: i Receipts . 14,108 "24,602 22,123 ‘Borrowing esses. 21,662 _ 38.37 375 83.000 ..$35,401* $s 63,001 63,067 s s 85,183 183

aoTaLl Putte. deb Rng of J = .0+.$76,001 $115,366 $140,051

BEECH PAYS 1ST DIVIDEND WICHITA, Kas, Oct. 7 (U. P.)— The Beech Aircraft Corp. today announced declaration of a dividend of $1 a share on the outstanding stock, the first payment In history of the

warning that the government’s borrowing from the public would have to provide about 70 per cent of the

“Borrowing such an amount,” he “which exceeds the probable volume of individual and business excessive purchasing power and endanger the

000,000,000 in April and up again tof

Budget © Chief Wait That Borrowing From Public Must “Provite; 70% of Costs; Urges Higher Social Security: Levy.

: WASHINGTON, Oct. 7 ( o. 'P.) +~For the formation of federal taxpayers, including some newcomers whose wages barely exceed $12 a week, the budget bureau today ‘announced that the government expects in this fiscal year to spend $85,183,000,000—enough to send the public debt y the end of next June close to 15 per cent of a trillion dol-

~- Budget Director Harold D. Smith uttered an inflation

Comparisons for Man-in-Street

WASHINGTON, Oct. 17 -(U. P.).—A few comparisons for the man-in-the-street on the vast sums of money in the government's “revised spending schedule for this fiscal year: For the year ending next June 30, the government plans to spend $86,183,000,000. That's" equivalent to $233,000,000 a ~day; $9,720,000 an hour; $162,000 a minute, and $2700 a sec= ond—more than twice as much as the average American earns in a year. That's enough to give every man, woman and child in the United States about $635. The comparisons on the ex‘pected © public debt of next June — $140,051,000,000 — are even, more startling. Theoretically, that will. mean that every. man, woman and child in the United States will owe $1045. That many billions is enough to buy every American a glass of beer each day for more than 28 years; enough to buy every American a quart of milk each day for more than 20 years; enough to buy every American ~a Swanky $2.50 dinner once a week, including the tip, for more than eight years,

STIRRUP PUMPS TO BE MADE IN STATE

WASHINGTON, Oct. 7 (U, P) pe The office of. civilian defense today announced award of $4,500,000 in contracts for ‘the manufacture of 2,258,000 stirrup pumps which are used to fight incendiary bomb fires. At the same time, the office of price - administration fixed maximum retail prices for the government~approved PUMPS, ranging from $3 to $3.80 each.

Defense Supplies Carp. to these six firms: James Graham Manufacturing Co., Newark, Cal.; Standard Container, Inc., Rockaway, N.- J.; Independent Lock Co., Witchburg, Mass.; Tennessee - Stove Works, Chattanooga, Tenn.; The Oakes Manufacturing Co., Inc, Tipton, Ind., and the Dobbins Manufacturing Co., Elkhart, Ind.

FRUIT CO. TO GROW FIBER FOR U. S. ROPE

WASHINGTON, Oct. 7 (U. P.).— The board of economic warfare and the Defense Supplies Corp. announced today they had signed contracts with the United Fruit Co. for the cultivation of 40,000 acres of abaca in Panama, Costa Rica, Guatemala and Honduras. They estimated the plantations, to be established by federal subsidies, would produce 40,000,000 pounds of abaca fiber annually for

company.

HORIZONTAL 1 Pictured Nazi g™ police chief, Heinrich ew, 9 He heads the

CROSSWORD PUZZLE ‘Answer to Previous Puzzle Sky HEY 30 Measured

4 Tardy. 50 Praise. S$ And (Latin). $1 Those. 6 Gather. 52 Electrical 7 Fix engineer 8 East In {abbr ) 9 Twist about, HAE blu 10 Two fives. ss Ope the same

.28 Musical

EE: Tf ol | ol CET wll a 11

making manila rope.

instrument,

walk. 13 Female deer.

dy.

12 Sign,

Oscilla 22 Same (Latin), 64 Perform. 25 Chinese sauce. 66 North Amere ‘$ca (abbr.).

The Eontracts Were awarded by}

he resigned Saturday. President Roosevelt said his new salary as OES director would .be $10,000 or $12,000. ree

INSURANCE BOARD RE-ELECTS HADLEY

Harlan J. Hadley was reelected president of the Indianapolis Insurance board, it was announced today. Fred G. Frauman was re-elected vice president and Joseph W. Stickney renamed secretary-treasurer. Paul B. Finney was elected a director. F. B. Troeger and C. C. Duck were re-elected to three-y terms.

OIL DRILLERS IN ENGLAND WASHINGTON, Oct. 7 (U..P.).— The: office of the petroleum co-or-dinator said today that workers from southwestern oil fields had

oil production at a new field discovered in Great Britain before the

[Net Def... 13'339'137.365.66 3.291 509,083.63 Cash. Bal. ‘Work. Bal.

“YCIGAEIDES =tepsersererneersers $ 4,427 Debits 7 $1

been sent to England to accelerate|160-180 Ibs.,

Complete New York stock quotations are carried daily in the final edition of The Times.

—

U.S. STATEMENT

WASHINGTON, Oct. 7 (U, P.).—Government expenses and receipts for the current fiscal ‘year through Oct. § compared with & year ago. Lach S!

This Year. Year. $17,311,718, 073. 97 $5,362,024,455.25 War Spnd. 15, 646, 698,851.35 3,646,031,137.16 Recef] . 3,970,370,358.31 2,024,234,8322. 63 3,853, 625,319.11 2,004,410,873.22 2,891, 140.799. 28 1,250, ai Tt Pub, Pele. 2 208,128,486.23 58,370,242,414.48 ear| G91 Res 22,754,284,555. 26 22, 761, 853,752.06

INDIANAPOLIS CLEA CLEARING Hous.

OTHER LIVESTOCK

FT. i AYNE, Oct. 7: (U. P Tos, $16.10: 90;

$15; 350-400 Ibs., $14.90; 180-200 1bs., $14.85: 14.75; {50-180 Ibs.,” $14.40; 140-150 1bs., $14.15; 130-140 lbs. $13.90 100-130 Ibs., $1

sssssafrscsesttoicdicncese

war.

THIS CURIOUS WORLD

3.65. Roughs, $14.50; stags, $12.75; male ho 8, 25 : Calves, 15.50; lambs, $13 ewes, $5.25 d

=—By William Ferguson

1.21| In

ager and secretary of the national society, will review major war activities of the various committees co-operating with the armed forces.

LOCAL ISSUES

Nominal quotations furnished -py local unit of National Association of Securities Dealers.

Stocks - Bid Ask Belt RR Stk Yds com....... 40 see Belt RR Stk Yds" on 1d 32 eee Bodha-Merril oi ees Bobbs-Merrill . P a san Circle Theater y serene 25 28 Comwlth Loan 5% pfd ..... 94 28 Hook Co com .......... 12% 144 Home T Ft Wayne 7% pid 51 ave d Tel %* it sas rnes 5 “ee Ind & Mich 7 4 ouannnie 106 vol Ind Hydro Elec 7% pid ..... 33 35% Ind Gen Serv 6% QQ asin 103 , Indpls P&L 5%% pfd ..... 81% 91%; Indpls P&L MM «...ee000ee 11% % Indpls Water 5% pfd ........104 : Indpls Wa A com... 15 16% Lincoln Co 5% pfd.... 83 86 Lincoln Nat Life Ins com... 26% 29%, *N Ind b Serv 512% pfd.... 18% 82% *N Ind Pub Serv 6% pfd.... 81% 85% *N Ind Pub Serv 7% pfd... 92 98 Progress Laundry com os 13 14 Pub Serv of Ind 5% pid .... 83 87 Pub Serv of Ind Inc com... 10% 12 So Ind G&L 4.8% pH...... 30% 84% Union Title Co com ....ecov.. 27 3 United Tel Co 5% «... as ass Van Camp Milk pfd ........ 68 isn »] Van, Camp Milk com ......... 11 13

i 933’ eg

es seinncens

(B=% 8 F §

50 618i

to others heavy

weak to

hi ($13.80 Cattl

ht kinds slow:

3 stock , ca

.50 down eo scarce, firm 11014 latter ‘price sa for choice year-

late Tuesday lambs slow, 10 cents lower; iis. classes

lambs, EY 15@14. 10; os Ia $6; today’s ho on lam

choice choice

OTHER LIy STOCK

~Hogs— | & sme

a weights. | Bay >.)

{ 206.330 og

1200-1b. +

15 fo 20 cents all

; To Holds at $16.25 | re “6350 Porkers Shipped To ‘Stockyards.

Hog prices were generally . un- : changed: at the Indianapolis. stock- ‘| yards. today, the agricultural marketing ‘administration reported. "The top was. $15.25 for good to choice 240 to. 280-pounders. Receipts, included 6350 hogs, 1250 cat450 calves and 1525 sheep.

trade io sent

$15.10; and good 150-3 60 lbs, Sia.s0; 140-150 1hs., | di Ybs., good grade e774. Gaives—280; sclpts {tum

olsht.

By ROGER

and other war-hit goods when in a survey made by the U.

of peace.

| Ft. Wayne Survey Shows People Plan Buying Spree After the War Is Over

IF THE PEOPLE OF FT. icans, then we are going in big for new homes, automobiles

BUDROW WAYNE are average Amer-

the war ends. This is shown S.. Chamber of Commerce to

find out expected buying habits during the first six months

Four per cent of Ft. Wayne’ 8 34,000 families said they plan to build or buy new homes, a total construction bill of about $1,700,000.. This is even greater than home-building

de hu

® See These UNREDEEMED

Clothing Values Before You Buy! * Hundreds 95 of Suits te $ » Select From— OTHERS at *4.96 *6.95 1.98 and "9.96

: on Nie) Bh for eal Re at

vith the

oa HOGS (6350) was there in the pre-war boom in the first six months of 1941. Geod yt Eventhough Pt. Wayne families 120- 140° {[email protected] 140-180 sdearnne rs 5.08) own more household appliances and : 15-188 as ou ‘18| furniture than the average nation- LARGER GOLD MINES: 200- 320 10915.:20/ ally, they plan to put considerable ™ ; |EE rie "woes, CLOSE IN 60 DAYS : 5 . suc goods. 8 360. ia 15:00 Eighty-four per| | Me@ium— cent of the fam-| WASHINGTON, Oct. 7 (U. P.).— 160-200 PURE ps 0s iar [email protected]% ilies are buying The nation’s larger gold mines will Good and, Cholce— war bonds and be closed under a war production 20- 300; B..cosiierieess 13.00018.18 69 Bp a palin board order, to be issued today or 330-360 pounds .......s... 18.0001.18 tionally, Two -| tomorrow, which will give them 60 Good— or thirds believe days to end production. The werkSem : : 400- 450 pounds .....ivseie 147501498 there will be jobs ers will be urged to take jobs in x 3 ? : oe . - un: sess etsnss Ba Five hundred tons of scrap at the central collection depot, 11th and Meridian sts, show that Indian- Mediums ; for everybody in coppers sine ua ond at 0 apolis ‘is giving whole-hearted support to the scrap metal campaign. Unloading the scrap. are some | 250- 550 pounds ............. [email protected] the first post-war workers would be .affected by th of the 12 trucks which made a city-wide collection yesterday, gathering 75 fons in a few hours. The | ~~ Sishter Pie The Pa Werke ror was the a . ¥. vie p um and Good— , trucks and crews were made available by the teamsters’ joint _ counetl, International Brothdrhood of 0 ID aE ei 13.00014.00 of a national one. Pro-| The order will close all mines Teamsters, Chauffeurs, Warehousemen and Helpers of America. pars Sianghios Catlie as -Calven that 2,100000 intend to buy auto-|Of Ore a year, officials said. This : : . Steers mobiles within six months after the exception will permit the small Locks Choi . & / Holger La \[email protected]| WAT, 1,500,000 intend to get re- mines which employ only a handful Net 900-1100 TEs LUMEN 15o0@agas| frigerators, 1,200,000 plan to buy| Of Workers fo continue. It hardly va High Low. Last Change | 1100-1300 pounds ....ee0.... [email protected]| washing machines, stoves, radios, ™ practical to shift such Alldgh Corp ...15-32 15-32 15-32 —1-32 11300-1500 pounds ....¢se0.... [email protected] small groups officials inted out. Allied’ Chem 138% 138% 138% + 1 Good~ living room and bedroom furniture, A mately 7000 Xo alan... UH Bo BA vi 100- 900 pounds ............ 1350@148| Fugs and carpets and linoleum. t pproximately ns monthly Am Rad & § 8. 5% 8% 5% .... 900-1100 pounds ....... resco 1378018000 A third of the would-be buyers| of War-needed copper or slightly An Soll Mud 0k Bn. 1300-1300 URES cee: sy er 1331535, want homes costing $3000 or less,|12T8er quantities of zinc and lead . : Hu ” will he obtained through the order Traders Still Puzzled by|Am Waer w: 9% “9% “4% = %| Three More Org Organizations "00-1100 pounds ...s.:.srs.. 117301218] 2070) WOUId pay between $3000 and poi coq ; Outcome of Farm Loan Arm Fi ii an a = # In County Reach commen re ind ‘siofeo. 1% “over 10,00" and A Shning he fii tht - i y : 00-1100 mounds areas [email protected]| 100; don’t know. F D i TO ASK ‘ . b 0 . a % + % x There's proof of the small-homes WIDER endix A 35 . Cholce— ; : 1M Legislation. Beta Steel au sme sit st s i 10% Goal. 400-200 pounds ...... ress: 1400913.00 market that’s waiting. Out of every CHICAGO, Oct. 7 (U. P)—Grain BE Vemmer'.. 21, 34 a1 + W| A treasury “T” flag will be pre-|Goos— 0 omer amen mate! SOGIAL SECURITY AGT futures eased on the Board of Trade [Chrysler . ..... 63% 63 e3y, ....'|sented.to the Bowes Sealfast Corp. 800-300; pounds -..... AP 12739 14.00 SPATS Or IMProvements, today pending the outcome of farm | Som" So «+ (Jo Ta 7.32 ..l. |employees at 4 p. m. Friday. Modtume. reese BOUL. ppyG STORES make their | WASHINGTON, Oct. 7 (U. P).— crop loan interpretation. Cons en ose oh oh Ke — %| A month ago, only 66 per cent of | 500- 900 pounds ............. [email protected] biggest profit on prescriptions, | President Roosevelt is expected At the end of the first hour wheat Curtiss ‘Wr. 8% 81 a J 'u|he employees were participating in\Commen. . . 0.201050] dccording to B, R. Hull, advertis- |s00n to ask. congress for general were unchanged to off: % cent a Douglas Are .. 8% 8% 8% ceed the 10 per cent war savings drive. Cos “5 3 > , ""| ing manager of Eli Lilly & Co. |revision of the social security act bushel, oats off %, rye off to % to %,|Gen Electric ..'28% 28% 381 — 1, Ninety-one per cept of the firm's ciation ion on. 1038@u12s| here. He bites two drug stores in [to provide benefits for approximateand soybeans inactive. Son sR Be Ba — 4 employees are now buying bonds at|aedtum "Jl III 9.50010.35| Logansport, Ind, to prove his [ly 30,000,000 additional workers, it In the December options wheat Goodrich ...... 2% 33% ‘2% 3|the rate of 12 per cent of gross pay- | Jutter ana commen "...... SIS Tag] point. was learned today. was % to % cent a bushel lower |Hecker Prod .. 81 Ei iif + 3 oll. Bulls (all weights) On a $95,000 gross business in | The president indicated in his nu th provi sm ois com BE vit ft EE 5 mo ng Lon | i) se ae ade ln ro, sh met, uh, rs to 4 from Tuesday's 83% @83%, | Ins Harvester .. 405 41s wi © of 08s ser aaenensiiioneeiss WS as| It had ne ription business. |he favored such action. cials oats off % from yesterday's 51%ec, Int Nig el. . 0% 3 10% + * the top” in 10 per cent investment = usage 11.25012.28 PS we eee |said they thought he would Foquest ‘land rye off % from the previous Johns Man ... 60 6 60 .... | drives to add 199 employees to an Good (all weights) ......... enn $3000 - profit on only a $27,000 [Specific legislation after passage of 88%c. Kennecott 3% 31% 31%... [honor roll that now includes 31,38 Or a +55 esi vant los @1025| gross but 10 per cent of that was |the pending tax bill which in its roger 4 a workers. common .......... 8 2 . a Tialers. wore | Lak Ba =. #4 53% #0 | The Senn plant, 7500 Michigan rd., CALVES (150) DO Socal security tax rate {oF 1068 standing: by to od Bo Mont Ward 1! 3s. 3058 aie = Y%|reported that every employee signed pct ag YT a weishe) ODDS AND ENDS: MacaroniStermine ash Kelv . 6a 6% + !|for deductions of at least 10 per and choice ............. [email protected]| ayers are profiting from the meat y corn and wheat will be exempt from Nat Siti 15% 15% 134 =. %|cent within 24 hours. The firm em- Common bs u a modi 1. 1% 10.00 4 LOCAL PRODUCE the 90 per cent loan rate provision Nat Reg 15% 15% 1514 — shortage. . . . Fresh cabbage is being Heavy breed oo, full-feathered, 17e, because of their importance as feed N.Y Centrai .. 10% 10% 10% ..., |PloVS 45, who are investing 11.3 per| Feeder & Stocker Cattle & Gatre pushed for “victory food special” Leghorn hens, le. Ohio Oil ...... 8% 8% 8% .... (cent of their payroll. Steers : Springers, 1% Ibs. and over; Solered, 18¢; in the production of meat, poultry|Owens Il ‘Glass 50% 50% 50% — % Th Chotes sale because the tin shortage has DATTOS Be While rote He. cock and dairy products. Packard ....... 2% 3 I ... e office of emergency manage-| 500-.800 pounds -........... [email protected] cramped packing of sauerkraut. ...| AD No. 2 poultry. 3 cen Pan Am Airway 20% 20% 20% .... |ment, training within industry, with 800-1080 pounds ...:l11l1Il% 117 12.7 f razilian ‘tr Egga—Curfent receipts’ 56 Ibs. ‘and up, Grain men were inclined to be-|Paramt Pict .. 17 10% 18% — %|ge io id each Good— Park. from a, B n, ree, (Pag, lieve ‘that the 85 per cent loan rate |S hg +: + Be WT + : Sy Sup Sy Wy es Psy wa i pound at ssias eves 11.00013.00 Santo) or the Douglas fir may sub-| Graded Esus—Giade A, large. 360; grade E RR -.e00. / — . -, eesesascesnne stitute for Spanish cork. Cala Thirty » » » » ‘ specified by the new anti-inflation Phillis Pet... #12 #% 0% — %| The Indiana Wheel & Rim Co. | Medium anil ants. Will bel: DateNo. 1 #@iwc: No. % 48 law would not affect wheat and Pullman ....... 7. 3% 20% — %)1082 N. Illinois st. with eight em- 9 po REA Ls sues +inssry JOUNEILEN built - vine 2 U. 8) to All| WAS butéeriat, ‘No. 1, dsc: No. 3, Win: ¥ ir imnoriance ae | Pure Oil ..... . — % : : ; yh making .; corn because of their importance as| gam OF ---- she 3p IK... ployees, also is an honor roll firm.| 500- 900 pounds ........... « [email protected]/ 1014 jease demand... . . Henry J, spolis “Quoted ya ro do ay a” aD feed crops, : “it | Republi stl: 18% 13% ast — ul Good ay tau) ger is now ma 5 . 5 & a and Cholce— . ..|Kaiser is now making 3500-ton : Sony Vom “a 3 Ki: pol ENGINEERS T0 HE AR pounds OWE & oui'susery [email protected] *sank landing ships Duilt niang Byrnes Takes a Qf nd.” jai iu iit > 500 pounds “Cute Gries nuenn Bi om water's edge on.g A y Stokely Br.... 3% 3% 3% .... A Ww HERRINGTON Good and Choice 1st Salary Cut Studebaker '.. A Ah A ol . } 500 pounds dOWR ........... 12.75014.50 WAGON WHEAT . Texas Co... 38% 38% IU + % : : Medium pounds down 10.00012.78| today, Indianapolis. dour. mills snd. grain] [LNeedneie WASHINGTON, Oct. T (U.P). |Gnited: Atrerté 30% 29% 30% + 3, A W-. Herrington, chairman’ of a Eh ot he a Ky - —The first person to take a salary [Un Ges Imp.. 44 4% 4% .... |Marmon-Herrington Co. and na-| SHEEP AND LAMBS (1525) |red wheat (other grades on tneir merits) (IROL LR ANISH 2 cut as a result of the new anti- |G B ‘Stes... 40% 49% 4% -. 3|tional president of the Society of Ewes (shorn) Dhshel nd No. "3 white shelled corn, die o£» DEPENDABLE inflation program is the man who |U 8 Steel pf 111 ~ 111 ~ 111 = ..... Automotive Engineers, will speak at Sond and hols ied 083 ee Wa, i. aud DRUG STORES heads it—James F. Byrnes, direc- west “onion. : 4, 8% 2%, Sn he Indiana Soto meeting of the Lambs tor of economic stabilization. . Wes! r ° + s| society Oct. a e Antlers hotel,| Good and cholce: ............ [email protected] Mr. Byrnes received $20,000 a White * Mo. i i i ~..”| A sound film of some of the Lock- | aedium nd ged [email protected] year as an associate justice of [Yellow Tr... 12% 13% 139% — it hows Sghier planes will be shows en 's the supreme court, from which Fh ar, | SSHSIA . Jnan- CHICAGO LIVESTOCK

od the suit you b! these | gublity A USE

2 Deposit

Places Any Garment ;

NRGERS Te E EACH

ve LE fer “41 Stor os All ar

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| Men's Suits & Overcoats

You Save Because We Save

6” *18" 21" "2" CASE CLOTHES 215 N. Senate—Open Daily 9 to. 9

WASTE PAPER

AMERICAN PAPER STOCK COMPANY RI-6341 Sra d 320 Ww. Mich.