Indianapolis Times, Indianapolis, Marion County, 30 October 1942 — Page 31
PIT Ow .55. ~The use of Tadic Waves 16-pro-duce a smooth, shiny, corrosionresisting finish on tin plate, used extensively to pack food shipped | to the nation’s armed forces and “to allied nations, was announced today ' by Westinghouse Elegtric & Manufaéturing Co. 5 4 The process, ‘already in use in a large ‘steel mill, according to ‘the announcement, was designed
Plan’ 10 Redistrioute Scarce » Materials Inaugurated by WPB|
ny ROGER BUDEOW-- -
FACTORY HERE ALMOST SHUT DOWN not _ It had only about 10 days’ supply of a certain steel. The steel mills said they couldn't ship any to} rm for months.
shedul ; Top | ! sit 7 2s wns Hogs Arrive at Stockyards.
Hog. prices were generally un4 |changed at the Indianapolis stock-| {yards today, the agricultural mar-|
hat ‘company éalle
a a an in the’ war production] |
in the Circle Tower and told him the predica~
the plan was in. ‘That WPB man knew that a plant} : ‘some of that steel it wasn’t going to be} | In one hour. that steel ‘Was on the way here. There
STUDEBAKER CO. T0 REDUCE DEBT
Lafayette firm was glad. to steel and use the cash for irposes rather than: have ft} in idle material. This is ofe’ maf “stance ‘of a new * service which ‘the WPB is inaugtrating. It is called . the “Materials “R edistribution .. Bran Indianapolis head ois J. BE. Hall, Letters are now being sent to In-~.-diana = manufac3 Budrow turers explaining - service. Manufacturers. are to send in an inventory of surplus or. frozen material. these are compiled the WPB n a position to help out a ; in jig time, provided he wants is available. what if no. manufacturer here has a particular mahand and some plant needs n the WPB shoots the rethe regional office in Chieg they check over the inof Wisconsin, Illinois and nu¥acturers. If it can’t be ‘there, it is sent on to Washwhere a national check is ar it can't be found then, aybe there just isn't. any. But ds are that most local recan be solved by the Indian-
yone “knows that the WPB/| quisition material if it wants that is a last resort measure, t plan appeals to both The plant needing a ‘certain ‘will be able to buy it and saddled with stuff i can’t n get rid of it. a A ply the only trouble wilt from short-sighted firms t to hoard material so get a jump on their comin switching back to » manufacturing. There any of those. who are sure the ‘war 2 their products much a faucet one WPB of~ Faucets were made of usually, before ‘the war. e is made of a plastic. ER THING: When all the OL our steel mills are Bt some time next year or th, the additional steel they ble to turn out will be ‘just same amount that is now d idle throughout various. 38 and warehouses, in the If the new WPB plan gets el into use now, a whole| )e saved. os » ” ‘AND ENDS: Aircraft aiet om to em-
-
box of canned food in every N*
gent to a British shipyard|w
Ise of ‘Wight. . . . A sepof coffee cosfs 10 cents
1 Field in Chicago advertises! p, L men. to ‘be. temporary $ clerks. . . . San Fran “going to ry staggering Indiamiapols did, to ze
Rs
‘Bradstreet’s daily weighted| A: : of 30 basic commodities, | : United Press (1930-32 uals 100): :
Wepaessvccesassone
” andthe a
159.41]
$1,000, 000 of Debentures Deferred Interest to Be Paid.
SOUTH BEND, Ind, Oct. 30 (U. P.).—Directors of the Studebaker Corp. have approved plans for payment of deferred interest on the firm’s 10-year convertible 6 per cent debentures and the redemption by, lot next Dec. 15 of $1,000,000 face amount of such obligations.
8|that payment will be made Nov. 5 of the deferred interest accrued on the debentures from: 1935 threugh 1937 at the rate of 3 per cent annually. This back interest totals about $457,500 or $84.54 on each $1000 debenture. The deferred interest accrued under terms of the indenture which reqiiired the corporation to pay only one-half of the interest, or 3 per cent annually, from March 8, 1035, to Jan: 1, 1938, and ‘was permitted to defer the other 3 per cent until such time, prior to maturity, as directors: declared the back interest payable out of net earnings. The proposed Dec. 15 redemption is in addition to that to be effected through ‘sinking fund opera-| tions which will retire about $450,000 principal. amount of Sebentures on Jan, 2, 1043.
“HT, WAYNE BROKERS DENIED SEC PERMIT
- PHILADELPHIA, Oct, 30 (U. BP). —The securities and exchange commission denjed Eugene P. Foelber and Sidney. 'B, Patterson; of . Wayne, Ind, registration ‘as ‘over the counter broker dealers, : The commission: said it could give no weight to the fact that the Indiana federal grand jury failed to indict the men for conspiracy in fraudulent dealings, since the record showed a willful violation of - the securities and exchange act of 1934. } <The dealing’in ‘Question concerned’ the purchase of “bonds, issued > several cities in Lake county, In diana, by ‘the Central Securities Corp. . The bonds were purchased|” for 40 to 60 per cent of their face value by: false representations of salability, the SEC said. Foelber and Patterson were officers and directors of’ the corporgtion when, the case came, up in 1940.
_ U.S. STATEMENT
WASHINGTON. Oct. 30 (U. P.).—Government e and receipts for the current fiscal year ibiougs Oct. 28, compared with a Tr a This Yea Last Yea Expenses $21, 621,672, 513. 13 $6, Sa 01 76 FWar Spnd. 19,660, 899,706.12 4,716,195, 2.37 Receipts 4,419,280, 540.73 2,333,114,946.62 Net Def. . 17,200,028,574.40 4,515 5.831 1805.14 Cash Bal 4 4, Pub. Debt
516.31 60,186,435,082:23 Gold Res. 22,738,716,226. 5 22,794,303, 1933. 29
INDIANAPOLIS CLEARING HOUSE Sleas ,331,000 bits 15,372,000
LOCAL PRODUCE
Heavy: jnesd he hens, full-feathered, 19c; EE “Ro Ibs, and over; Soe 20¢;
hice corock: 3 A barred dro seks, 3 alc. Eeecurkent Tecetpis Teceipts’ 54 IDE. and wp:
Eni
srade es 00 gue a at
~The company announced Jouay ;
This is the first photograph released showing the aesiional new British de Havilland “Mosquito” reconnaissance bomber which has done excellent work in recent raids over ememy territory. “It is of ‘imple wooden consicuction, powered by: two Rolls Revos engines, and armed with. four Hmm. cannon and | 270- 300. pounds four 303 machine guns. I jsceredited with high speed and long range. (Passed by consors), re
Steel Sales Break Records,
But Profits Are Under '41|
By ELMER C. WALZER United Press Financial Editor
NEW. YORK, Oct. 30. —Reports behind the market and some of the
of the big steel companies are now experts believe the list is in a better
position to move forward again. However, uncertainty over the Solomon islands situation is said to be a principal restricting factor at this
tme.
Bethlehem Sfeel Corp. reported its net income fier the close yester-
day and the total for the third quarter exceeded that for both. the first and second quarters. This was explained by the fact that the corporation had already allowed fully for the retroactive rate increase ordered by the war labor board. Eugene, G. Grace, Bethlehem president, estimated that the company’s sales for this year will break all records at $1,500,000,000. The sales
for the first three-quarters of thel4 year already have crossed the bil- A
lion-dolar mark.
: Open. High Last Net
Allegh Corp .. 7-16 +116 Allied Chem: .. 188% 138% 138% - Can 66% Xone Am 1892 169% — A 5% 7 5% — Am R & SS 1 53° 153 15 vos Am PR Am T & ve Am Aa
Bethishem'’s net. income for the |Balt &
third quarter totaled $7,444,870 after Beth § h | provision” of “$34,970,000. for taxes,|Borg.w
equal to $1.94 a share on the com-
mon stock. The directors declared %
the usual :dividend of $1.50 a share on the stock. 8 rate that has been
retained from the beginning of last{py
year.: The net compares with $6707, 013 or $1.48 a share in the second quarter and with $7,910,569 or $2.10 a
share in the third quarter of last:
year. Bethléhem’s nine months’ net
Curtiss-Wr . aa Douglas Airc. .. Pont Bast Kodak... 137 Elec * Auto- . 38% Gen Biartsio. . 20s Gen Motors... 40% Goodrich ..... 23% Goodyear .... 21% Hecker Prod .. 6% Hudson Motor. Int Harvester. $ Nick
profit worked out at $10,656,471 or|lst T&T
{$4.94 a. share against $33.907 994 or
$6.40 ‘a share in the 1941 period. : The corporation used the recent-|N Iy enacted revenue act in calculating its net profit. Tax provisions for the first nine months of the year amounted to - $84, 370,000, - against $46,030,000. in the corresponding period of last year.
I! Pan Am Airwys ¢ Param Pict .. Penney Penn R oe Phillips =
- Bethlehem cur- | Procte
rently is operating at 101 per cent | pu
of capacity in turning out steel production. Other steel companies are main- | Sea taining a rate at 100 per «cent or better and indications are that Oe{tober ‘will break all records in. history in the production of steel ingots. \ On Wednesday U. 8. Steel ahnounced plans to cut its debt: $30,000,000. The company thereby became the first to take advantage of the 10 per cent post-war relief provision of the 1942 revenue act which provides a refund of excess profits tax to the amount of 10 per cent of that paid and permits’ such
éoirefund to be used immediately to
retire debt. Actually. Big Steel could - have been a day earlier in its announcement. The directors took the action on Tuesday when they also released the quarterly report and declared a $1 dividend on the common stock. But. Irving S. Olds, president of
U. 8. Steel—so the story goes—just| plumb forgot to pass out the releases | f
which lay on his desk.
Crucible Steel Co. directors hold|™%
their meeting shortly and Wall
Street anticipates that a dividend
will ‘be ordered on the common Indian- | stock well above the $1 paid in 1941. The National City bank. today published a compilation on results
{for the first nine months of 205
corporations. These showed in most
ricases an increase in sales but a
substantial decline 'in® net income after taxes; ‘compared with e year ago. : The conipariies’ showed 8 gain in the third quarter compared with the second caused partly by adjustments for tax reserves. Many corporations made substantial deductions in the June: Sun for taxes ang a large
C's of Mileage |
US. Steel ..
Rem Rand .... Republic Stl ... Sears Roebuck, Socony-Vacuum, South 2a “ans Soy 50 Studebaker Texas Co ..... Timken RB .. United Aircraft Un Gas Imp... U 8 Rubber ...
Warner Bros... West Union ... West Air Bke,. Westing El .... 75 White Mot .... Woolworth .... Yellow Tr . “ Yi ¢ -— Zenith Rad ...« — Vg
Complete New York: stock quotations are carried daily in the final edi-. | tion of The Times.
Incorporations
Scuffietown Tere Co., ery oer
Kentucky . corted to Indiana to operate ‘ACTOSS Ohio river. te Bank, Waterloo; amendng for - perpetual existence. Mutal aan & - Savings Assn,
* providi A Buffon; dissolu Tunof: adopt) Na EB. 7th ave, Gary; agent, Richard H. MacCracken, 504 Broad way, Gary; 100 shares without par value; |an to operate confectionery and lunch room; George Burnett, Marie Burnett, James J. Burke, Billie’ Ginet.Brownsburg Telephone Corp., 101 W. North st., Greenfield; agent, Ellis C. Mull, same ad ss; 100 value; Florence E. Cummings, Geo: Cummings, Virginia D. Cummings. Suber} or Steel Products, Inc., Muncie:
dissolu tion, 3 United ‘Engine Workers, Inc. Indianaolisl amendment of gricies of incarporation.
number. recalculated first quarter: results on the basic of the tax bill as
16 “existed in congress at the time {the second - quarter reparts.
published. Some of the ‘estimates proved too high. ;
i +
SENATE ACTION
1s imodify price regulations. -
.|Tye %.
advanced % to % cent a bushel] % from yesterday’s $1.23% @7%, corn M %. to. 2%" from the previous 79@791%,
H oats % from Thursday's 47%, and [i:32/rye % from the previous 61.’
1: |terday “encouraged - traders to re-
i,| pointed. out, was fairly good evi-
I 30, were nearly $1,000,000 over such
CINC R.| Receipts
‘were ers — baby beet
Market not. Solan
BOOSTS GRAINS
All Futures Move Higher |, “But. ‘Soybean Trading
Is Inactive. CHICAGO, Oct.30° (U. P) ~Grain|}
of Trade today apparently as a fesult of efforts in the senate to]
At the end-of the first hour wheat moved up 3% to % cent al bushel, corn #% to %, oats % and ‘Soybeans were inactive, In the December options wheat
The increase in parity prices. for agricultural products reported yes-
gard the wheat ‘market vith ‘more optimism. | October farm prices soared to 110 per cent of parity which; one broker
dence that price ceilings are due for an overhauling affer election.
POWER & LIGHT C0. INCOME 1S LOWER
Indianapolis Power: & ‘Light Co. s| today Teported -its net income for| + | the first nine months ‘this ‘year de- . | clined approximately $300,000 from s | the same period of 1941, | Its operating revenues, as of Sept. |
income in the 1941 period but in-
creases in federal income taxes alone more than offset the increased revenue,
Net income for the nine-month period was . $1,476,292 against $1. 781,929 in the 1941 period. For the 12-month period ending Sept. 30, net income was $2,199,734 against $2,720,231 in 1941.
CHICAGO LIVESTOCK|
Hogs—Receipts, 8000; . steady to 10 cents Dither: most advance on. weight under
choice Ibs, $i 75; good and choice al 80; sows strong;
; 2000; calves, 400; hardsteers and yearlings here undertone weak; few gf $15.75, paid for . mixed steers and heifers: stock cattle fairly active at $10.75 to $1 13 on medium ight stoc!
£00 g kers under $10; fed ‘heifers steady, but Ye I helt y, but grassy kind
to Yo cents under late last week; bulk, [email protected]; common light kinds down to $8.50; cows dr y at week's sharp decline; peddling trade on eanners, cutters and on beef cows at $9 down ; most canners, [email protected]; sutiers, [email protected]; weighty sausage bulls = teady | 3p 10. $12.50 paid; vealers steady at $15.50 Shee
p—Receipts, 2000; pol.
classes around stead . choice fat native Jamba, 4, isa fi5 50;
and Poise. Ar i ul oh slaughter awes, $6.50 k 50 n a io good
OTHER LIVESTOCK
INNATI, Oet. 30 LL i] 2700; weights o 2 —Hogs—| in
i) cette = er lbs. fa 160-180 $14.56 14.60; 300-400 oom ‘medium ‘apd ‘good, oi $15.25 down; - sows -
erall 180-260 and 1bs., N45 iy
Hg a»
Suh bs,
cody bids -
limi to : cows; ‘an sales on these, 15 to to_s¢ cents” ower; vealpractical tabs on bul Bulls, 31 sia $50; round] on ractic; on roun: Jour steers and several odd lots heifves. - Salat ta he and year
S500: "ve nw Desrings. LT gs
keting service reported.
Lets
futures strengthened on the Board ime
slaughter Bob}
od Som
co! gen. Ind an Thu AY Water Class A Lincoln
“The: schedule top was $14.75 with
la few going at $14.80. Receipts in-
9325 hogs, 400 cattle, 350
cluded 3 £alves and 1200 ) sheep.
+ \oGs ® (9325)
Ho
seeesevenss:$13:50014.35 is 15(314.65 4.55(214.70 i 58(014.70 14.60¢ 1415
sens see vise
dssvvsns sssene ceseenge seve sosssensasan
sessresensssn
$55 aspiring 00145 on 14.00¢)14.00
EEE
14850 347 «00. 14.66@ 14
: sai
I S808. 65 50@1 4.60
Sessvsavrese
12.76@ 13.76
Slsughter Ositie & Calves % Steers
|S 100 pounds pounds pounds 700- 900 ounds 14.26@15 900-1100 wp + 14.25 10.50 1100-1300" pounds. ... eee [email protected] 1300-1500 pounds sssbsssensen [email protected]
[email protected] 11. 7514.00
Ss sssssanans
15.50917.00
1100 pounds 1300 pounds
sesdsha shes Yeersssns suse
a Sid a 700-1100 nouns Saks se vansnen Cholce— : 600-. £500 pos:
[email protected] 800-1000 pounds
[email protected] 13.25@ 14.50
[email protected] [email protected]
Sess nsonsres ss0sscnevsee
Sov 0sssssne
Good— 600- 800 pounds 800-1100 pounds
Medium 500- 900 pounds ess esebatse ns
Common-—-500- 900 pounds ......ecasss
Cows (all weights) [email protected]
saves vee ey,
shennan
Good . edium Cutter and COMMON osovnves. CANNEL +..i.%0snns ame ad
Bulls (sll weights) Boor (Yearlings Excluded)
GO0A sovinianinninssnosssrnny
Sausage ; ‘Good (£11 weights) sseeesses
supehvdnce seins
Cutter and COMMON .vsevess ie CALVES (350)
Vealers (all weights)
Good and choice ..... yeah ve 3lo0a @16.50 Common and medium ........ 10.5001 .00 Cull (75 lbs. up)
Feeder & Stocker Cattle & Calva , Bteers
5.50@. 1.25
[email protected] *10,[email protected] [email protected]
Cholce— 500- 800 pounds 800-1050 pounds
300d 00- 800 pounds i 030 pounds
evens oo Hogi
oo 11.00012.00 oo [email protected]
eos 00000 ecesssnoe
0000000000000 [email protected]¢C [email protected]
Mediu, 500-1000 pounds Common— 500- 900 pounds tost-and on (steers) 00d -8 oice~ 0.08 pounds down, esesseneene 13. 1018.00 500 dn down Sa 11,[email protected] * cures (heifers) Good an oice— "500 pounds down sesessusss 12.75014.50
‘Medium: 500 péunds down 10.00Q13.76
SHEEP AND LAMBS (120)
; Ewes (shorn) Good and choice ... Common and -chojee... cv.
seve senate.
dedessen
evens [email protected] i. [email protected] [email protected]
Good and choice Medium and foul Common
Yearling Wethers
Good and choice .....cie00000 11 3012.25 edium sen ang eins searsiaenas . 11.000 11.50
OTHER LIVESTOCK
we WAYNE, Oct. 30 (U 15 Sents Dighers 240-280 1 160-200 $14.35;
3300-350 1bs., $14, 3: ; 150-160 1bs., $14.15; ; 130-140 Ibs., $13. 85;
1 ) ) Hogs. bs., $14.55;
40. Roughs, stags, $13; male hogs, $0.75 down; calves, $16; lambs, $14; ewes, $5.50 down. -
LOCAL ISSUES
Nominal guetations furnished by local unit of National Association of Securities
Dealers. Bid Asked A ents Fin C COM. covvianne 5 Bes mi Corp 28 nM t RR Stk da 6% 1d..... 53 ferrill Sn Bf 40 Loan 5%.D fd
: Wan ayne A % pid 51 PI 3
sevese
cies ens s108 fd. cee. 32% ind Gen Serv. 6% dd...vea. dpls P&L 5% % pd. ines bey oi, P 3h
il 26%
N ing Pub Serv eh pid.. Pu 82
6% pld....... % pd. x
775; “calves, 300; early “| Exon
Cr
04 Y iS. 5 os pir i Su 14
as the final step in making elecirolytic tin plate, which uses only one-third as much tin as the old -
system of dipping steel shéets into |
tanks of ‘molten tin. x ‘Radio waves—200,000 a second —shooting. out from: a 10-foot . length of coiled copper tubing, - put a mirror-like finish. on a strip of dull, pitted tin plate in one-tenth the. time previously re-
quired by ponderous furnaces or
huge vats of hot oil, it was explained. Engineers claim that’ shiny, smooth-surfaced- tin gives better sei, on: to foods containing ‘ac
FREIGHT SCHEDULES LENGTHENED A DAY:
CHICAGO, Oct. 30 (U. P)—C. E. Johnston, chairman of the West-
ern Association of Railway - Executives, announced today that effective Nov. 1 western railroads will
16.50 lengthen by one day freight sched-
ules from Chicago and St. Louis to the Pacific coast. The new schedules will provide westbound eighth morning delivery from Chicago fo all Pacific coast terminals, eighth morning delivery from St. Louis at north Pacific coast points and seventh morning delivery at California terminals from St. Louis. ; On eastbound freight the new schedules will provide eighth morning delivery at both St. Louis and Chicago as well as eighth morning connections for eighth destinations. Johnston said the changes would provide fuller utilization of locomotives and equipment. It will also produce a better on-time performance in these times when there are interruptions to the normal flow of traffic which cannot be foreseen sufficiently in advance tof avoid late arrivals of trains at principal‘ terminal points, he said. A corresponding : lengthening of intermediate freight schedules was planned to make them fit the new
Groups which will be : at the meeting include the Engineering council, the Central diana ‘section of the Al ciety of Mechanical
Wayne section of the Eneinsets stitute of Electrical Engines, Ind ana section of the American 8 of Civil Engineers, the ‘Indiana 8 ciety of Professional Engines, Wayne Engineers’ club National Society of Engineers. : Hadden to Speak. et Registration will open a. m: and the meeting will 3 lowing a dinner featuring Skly eron of Indianapolis as J and Samuel C. Hadden, of the state highway as principal speaker. ‘. Other speakers for the day's | gram include Ralph E. Indianapolis, first vice p nN the Indians Society of Profes Engineers; Capt. Ben H. Fett, fayette, president of the: | section of the American Soe Civil - Engineers; F. A. EF Indianapolis, secretary of the ana Engineering Council: R. Kryter of Angus; Prof. Ralph Wiley, dean of Purdue’s civil gineering’ school; John e. Sieg mund, Indianapolis, vice of the Indiana Engingering cil, and Clyde A. Walb, pres the Indiana Society of Prote Engineers.
4 OLILIIA
ol a0
months ended Sept. 30 net loss
over-all schedules.
320 vs. net profit $6092 year ag
"Paid Political Advertising
Caught stealing a bicycle.
Only eleven years old, ard
already in conflict with the law. It was pretty difficult to establish Tommy's “permanent” address and family. He’d lived in four different places during the past year, : and he'd had two stepfathers in his short lite, !
What sort of judge do you
hope Tommy will face? A
judge who might automatically invoke the criminal; code?) Or one who, in the light of knowledge and experi= ence of child neglect and dependency, will consider the case by weighing the factors of cause and: effect? A judge who will make intelligent use of the probation sys= tem, to prevent a second violation, and ‘who will try; with. understanding counseling, to guide Tommy down the
other road to ‘Marion county is fortunate
to good citizenship? f
in having such a fudge on administers
the juvenile court bench. Judge Bradshaw the juvenile court with the able assistance of a com- - petent staff of trained employees, who are: solely on a merit basis, with no regard to politdenl cons
nections.
We. believe that the thoughtful citizens of Marion county, regardless of party affiliation, will vote -to continue in office Wilfred Bradshaw, i Judge of the Juvenile diet
His ballot number is 21
3 ee eottiiy submitted, + The Juvenile Court
Lo.
Rudd Treasurer ‘ Mrs. Meredith Nicholson Jr., Secreiary
*Tommy Davis is, of course, a fctitious name— all records ot: the juvenile court. are confidential,