Indianapolis Times, Indianapolis, Marion County, 4 November 1942 — Page 15
[PRICES ON HOGS | ARE UNCHANGED
Schedule Top Is $14.60 as 7025 Porkers Arrive
At Stockyards.
Hog prices were unchanged at the Indianapolis stockyards today with the schedule top at $14.60 buf a few selling at $14.65, the agricultural marketing administration reported. : Receipts included ‘7025 hogs, 1325 caitle, (435 calves and 800 sheep.
ININESS
One Indiana - War Plant Is Lagging] In Production; Can’t Get Workers
By ROGER BUDROW
HINDSIGHT IS EASIER THAN FORESIGHT but 1 would like to just point out a few examples here at home where lack of planning of our most precious resource— _#manpower—has messed up war production. : The name or location cannot be mentioned, but one vast Indiana war plant is falling down on the job. This ‘plant is the only one in the nation making a certain war product. It is falling behind schedule because it can’t hire
or keep enough workers. : ‘To begin with, there is no place
mamas WA STREET HOPES FOR BEST
“rationing keep jobseekers who live i s 0 m e distance But November Usually Is ‘An Uncertain Month:
away from applyFor Stocks.
ing. The plant was built, early By ELMER C. WALZER United Press Staff Correspondent
LEFT TO SPEND 58¢ OUT OF EVERY DOLLAR
OR $1740 OUT OF A $3000 ANNUAL INCOME
HOGS (7025)
120- 140 pounds ....... eons [email protected] 140- 160 poUNAS ,..c0es0000... 13.90@ 14.50 160- 180 pounds ....cececee.. [email protected] 189- 200 pounds .... . 14.50@ 14.55 200- 220 pounds ... [email protected] 220-.240 pounds .... . [email protected] 240- 270 pounds ...... [email protected] 270- 300 pounds .. [email protected] 14.50@ 14.55
300- 330 pPoUNdS cceccccccess 330- 260 pounds . [email protected]
Medium— . eeeee eo veel wae 160- 200 pounds’ [email protected] Packing Sows Good and Choice— 370- 300 pounds .... 300- 330 pounds ... 330-360 pounds ...... 360- 400 pounds ..eesscscesse
1 VICTORY TAX (5% Victery Tax on all income over $12 weekly amounts to 49, of total income. Post-war credit is not deducted here.)
0 { SALES AND MISC. TAXES
normal times. W raises partially ff is loss.
seveccesssces
in the defense program, away from the large industrial centers, but t hat has proved a handicap because work- : ers can now get - jobs easily in Mr. Budrow those industrial
cess [email protected] ooo [email protected] [email protected] . [email protected] There’ll be only a little more than half of "our dollar left next year after you pay your taxes, buy war bonds and figure in depreciation caused by the high cost of living. Chart shows what will happen io 42 per cent of each dollar earned by a married man, with two children, making $3000 a year. New tax bill provides for a 6 per cent
tax on net income as well as surtax, but total income tax in this
Good— 400 450 pounds 450- 500 pounds
Medium— 250- 350 pounds .
Slaughter Pigs Medium and Good—
’ . cessersanseses [email protected] Built under congressional mandate to produce power for war industries, TVA’s Cherokee dam on the tevesscssanne [email protected] Holston river about 30 miles from Knoxville, Tenn., today stands completed after a .record-breaking con-
struction period of 16 months. Plans call for a useful storage capacity of 1,400,000 acre feet and an installed
&
centers. Rather than drive or depend on poor transportation servyice, they take a job closer at home. The second case is Allison. Of all the General Motors plants, the Allison division here had the lowest average age. They ‘had to hire thousands of workers in a comparatively short time when the Speedway City plant was being expanded and so they took young fen. Nobody knew, they say, that army would need so many and #0 they just hired those who were best adapted to the work and would be trained fastest. Now the company is full of regrets for this mistake in policy. They've lost many to the armed - services and now plan to hire as
NEW YORK, Nov. ovember, the month of holidays for the stock market, is considered an unpredictable one on the basis of past performance, but Wall Street hopes this one will break the spell of declines during the 11th month in the past five years. In the past 45 Novembers—going back to 1897—the industrial average has risen in 26 and declined in 18. There was no November market in 1914. The rail average declined in 24 and rose in 20. Volume in November has an edge on activity. In four of the Novembers back to 1897, sales beat any month in the year. In five others, the volume was second best and in
six it was third best. First to sixth
many women and older men as Hos. place has been touched in 25 and
sible. Think how muéh time and money spent in training could have been saved had they known the, army’s ideas in the beginning. Another aspect: There are many rumors that several companies hereabouts are “hoarding” their labor. They know they will need more employees later on (to man expanding plants) and when a good one
comes along they hire him even! though they have nothing better,
than a menial job for him at present. When he is thus hired by a war plant, another war plant is reluctant to hire him away. Blame the com‘panies, if you want to, but isn’t it apparent that the real blame rests in the muddled manpower situation
¢ 1 rin Washington?
» 2 »
SMALL-TOWN “black markets” are expected when meat rationing is ordered. Nothing in the regulations (as now written prevents a family from buying a hog, - .-steer or lamb .and having the: - - farmer butcher it for them. This ‘is an old custom in may rural - communities, er price ceilings, farmers ry and Finland balked, preferr to sell in on the farm “black - market.” Washington would like to figure oiit a way to control this market in this country. ; 8. » » " COFFEE DRINKERS in this tountry may not like their beverage rationed but it will be much harder on South American countries that : depend on coffee-raising for much of their income. Under an agreement with Brazil, U. S. will buy and store in that country all the coffee Brazil is authorized to ship here under quota -agreements but which it cannot because of the shipping shortage. Storage space is practically filled. Unless more is built, then coffee planting will have to be reduced, -thus. increasing agricultural unemployment. 2 2 9» -ODDS AND ENDS: United Aircraft Corp. has unfilled orders totaling one billion dollars . . . The Swiss are using a mixture of sewer gas and coal gas to run essential autos . . . And Norway and Eire are , experimenting with seaweed as a source of motor fuel . . . According to the talk, there ‘will be no manpower boss for Indiana as a- whole hut several assigned to the areas where labor shortages are most fea « + « Britain is trying to potato °‘ consumption, cut down on bread because wheat takes up needed shipping space.
LOCAL ISSUES
‘Nominal quotations furnished b; Jaca] unit of National Association of Seouriti tie Aeris in 5 Fite hake : orp com.... ave ts Fin Col . ' t Be Ste y Yd % fd 8 oe Aen com bbs-Merrill 4%%.D th Los1
SE
dry . coms “Ind 5% pfd.. of oe Inc com..
SOL p rel
: i . Bonds JERTEL TY Mk & o8 C WPA, ries 4351 % S os : of C Bide Co 4's 51.. Ind L $s 6 61 ....10
Consol Fin 5s co. 94 SrebikkeynoldeTaslor a ... 83
I Wayne 6s 43...103 : Tel Co -3%s 70.108 Fos 3%s 70 108
H
Week Ago .....
lower positions in 18 of the No- | vembers. The best November on record was lin 1928 when sales totaled 114,811,{000 shares and the industrial average rose 41.22 points and the rail, 10.12 points. The worst was in 1929 when the industrial average dropped 34.56 points and the rail average lost 13.93 points.
There is only one full market ¥
week this month. This week was broken by the election day holiday
yesterday. Next week will be cut
short by the Arimstice day holiday on Wednesday. And the week beginning Nov. 23 will be shortened by the Thanksgiving day holiday.
Taft Election Helped Novembers that followed presidential elections displayed activity when Republicans were elected and dullness when the Democrats won. In 1900, when McKinley won the month rated second place in volume for the year and the industrial average rose 6.06 points and the rail 9.03 points. ‘When Theodore Roosevelt was elected in 1904, November was the second largest month of the year and the industrial average rose 7.48 points while the rail gained 3.73 points, When Taft won in 1908, November topped the list in volume and gains of 4.38 points in the industrial average and 6.94 points in the rail average were registered. Hard-
ing was an exception in the Re-.
publican markets. When he won in 1920, November rated 4th place in volume and the industrial average declined 8.91 points and the rail, 5.07 points. The averages rose more than 7 points each for Coolidge With the month in second place in volume. Hoover beat all the records in gain and when he won in 1928 November rated highest month of the year in volume. Market Went Down For the Democrats, Wilson's victory in 1912 saw November in 8th place in turnover and the average eased small amounts. When he was re-elected in 1916, November was the most active month of the year and the industrial average lost 1.36 points and the rail lost 2.10 points. When Franklin D. Roosevelt was elected in 1932, November rated 11th place in turnover and the industrial average lost 5.55 points while the rail lost 2.90. Roosevelt’s re-election in 1936 was anticipated by the market and November rated 4th place in the way of sales with the “industrial average up 6.03 points and the rail up 3.26. In Roosevelt's third term victory in 1940, November was in third place with the industrial average off 3.61 points and the rail off 1.33 points. In the election years similar to 1942, the market was up in three Novembers, down in five and mixed in one. No market was available in 1914. The position of November in
_|the sales column ranged from third
in 1962, 1918 and 1938 to 10 in 1906, 1926 and 1930.
MISUNDERSTANDING ON TIRES EXPLAINED
The ODT certificate of necessity does not necessarily mean that truck owners are entitled to new tires or recaps, James D. Strickland, Indiana OPA director, said today. “There has been a misunder-
8 standing on the part of.some ‘truck
drivers,” he said. . “That the ODT certificate automatically made them eligible for. tires, This Is not the case.” Truck drivers must continue to prove to their local rationing boards their eligibility to obtain ° tires. Even then ‘the tires will not be available if the board’s quota is exhausted,
DAILY PRICE INDEX NEW YORK, Nov. 4 (U. P.)— Dun & Bradstreet’s daily weighted price’ index of 30 basic commodities, compiled for. United Press (1930-32 average Sdusle 100); ; Monday ...... cesnsessssss 159.68 teersacsesess 159,78 ses esecanisssa 160.65 sesssesiny, 144.08
tse
Month Ago ...
capacity of 90,000 kilowatts of power.
price situation in the oil industry, miliar with petroleum problems.
shortage.
It cannot be dismissed as merely
20,000,000,000 barrels of crude oil. In its most definite form, the threat was voiced by former Rep. William P. Cole Jy (D. Md.). He said: “With our present transportation and present rate of recovery, showing any regard for conservation, we will be short of oil within two ears.” Mr. Cole is not given to loose talk. For 14 years, ending last week, he was a member of congress. For eight years he has been chairman of a special house subcommittee investigating all phases of the oil industry. President Roosevelt appointed him a judge of the U.S. customs court in New York, and he has just quit to assume his new job. Before leaving, he wrote a long letter to the president, reporting on the work of his committee and making recommendations on how to improve our oil supply. “Mr. President,” he wrote, is an oil war. “We are certainly headed toward disaster, Mr. President, if we cannot make provision at this time for an increased supply of nearby petroleum. “The time lapse between the search for petroleum and its use where needed, is at least two years.”
* O’Mahoney Agrees
“this
Beside him is Senator Joseph O'Mahoney (D. Wyo.). Senator O'Mahoney was chairman of the temporary national economic committee—the “monopoly committee”—which carried on such exhaustive investigations here three and four years ago. The TNEC took a good, long look at the petroleum industry, among many others. Now Mr. O'Mahoney is chairman of a special senate subcommittee that is in the midst of hearings on presen; petroleum problems. After hearing all the experts in the government, and oil men across the country, the senator made a “progress report” in which he said: “The undisputed facts revealed by these hearings are that production of oil has been falling off, ‘wildcatting,’ or the search for new fields, has nearly ceased, while the growing war demand may well deplete our known reserves, endanger the
force us to turn to oil shale and coal for petroleum substitutes.” In a general way, here is our present oil situation: The United States has proven oil reserves of about 20 billion barrels.
now, some we will produce 10 years hence, some 50 years hence. We "are producing oil now at the rate of 4,000,000 barrels a day.
Military Needs More
While civilian consumption of gasoline and fuel oil is being reduced by rationing, military demands are increasing. How much they are increasing is a military secret, but the war department told Mr. OMahoney’s committee that for 1943 its estimated requirements would be “much more” than in 1942, and the navy said it would require “twice as much.” Mr. O'Mahoney, who probably was given more detailed information off the record, said: ‘Our own expanding army and our own growing navy, with tanks, airplanes and trucks, as well as destroyers, cruisers and battleships, are piling up new estimates of hitherto undreamed-of consumption. “Huge supplies,” he said, needed for lease-lend. “Not only is the war certain to consume oil in perfectly enormous quantities, but the United States has, in fact, become the oil reservoir of the united nations.” Against this demand, the discovery of new oil reserves has fallen off.
“are
‘Wildcatting’ Declines Senator O'Mahoney put it this
rway:
“The shocking fact is that .alcreased. It cannot be kissed off just because we happen to have proven geserves sontalning about
Mr. Cole does not stand -alone. a
Real Oil Shortage Looms; Demand Grows; Search Lags
This is the first of three articles on the supply, consumption and
as reported to congress by men fa-
By MARSHAL McNEIL Times Special Writer
WASHINGTON, Nov, 4—The United States is threatened with an oil}
A real shortage, that is, in contrast to the present stringency deriving from scarcities of rubber and transportation. The dark prediction comes from sober and responsible quarters here.
part of a_war of nerves conducted
against government officials by those who want crude oil prices in-
wildcat wells drilled increased from 2224 to 3264, the new reserves discovered decreased steadily each year from 1,693,000 barrels in 1937 to only 621,000 barrels last year for each wildcat well drilled. “During 1942, the number of wildcat wells. to be drilled should be 3600, but (the government) eliminated the drilling of 13,000 wells due to steel shortage, thus limiting the drilling of wells to known crude oil reserves and making wildcatting more difficult . . .” Mr. Cole told the president that “there is a serious lack of under-
‘Istanding among both officials and
laymen as to the real situation with respect to the supply of petroleum products for the conduct of the war.” And he said “another misconception widely held is that the productive capacity of the present crude oil producing facilities of this country far exceeds the quantity of crude oil currently being consumed.” Co
N. Y. Stocks
Net Last change 7-16
Low 15-32 137% — i 1% +
5% 6...
Allegh Corp .. Allied ,Chem ...1 Allis-Chal
“
Anaconda Armour Ill Atchison
.. 60% 21%, . 26 91,
Beth 8
Borg-Warner Bdgpt Brass ... CChrysler 66 Comwlth & So. 11- 32 Cons Edison . Cons Oil Corn Prod-.... Curtiss-Wr .... Douglas Airc .
tl
Pt
conservation policy, and in time M
Some of that oil we are producing Pen
+1
Dow Chem ..... Du Pont East Kodak ...138Y%2 Elec Auto-L .. Ya Gen Electric. .,
Di
Gen t3oods . Gen Motors... Goodrich Goodyear Hecker Prod.. Hudson Motor.. Indpls Pw & Lt. Int Harvester., Int Nickel .... 30 Int T&T.... Johns-Man Kennecott
N Y Central.. Ohio Qil Owens Ill Glass Packard 2 Pan Am Airways Paramt Pict ..
n RR Phillips Pet ... Procter & G...
Rand Republic Stl .., Sears Roebuck. Servel Inc .... Socony- Vacuum South Pac ...., Std Oil Ind. Std Oil N J.. Stew War ...,. Stokely Br . Studebaker .... Swift &Co .. Texas Co United Ajrerati 204 Un Gas Imp .. 5% U 8 Rubber .
Cees Ya U 8 Soom, pf .1117% Warner Bros .. 6% West Union ... 28% West Air Bke . 153; Westing El .... 77% White Mot .... 14% Woolworth 283% Yellow Tr 131, Young Sheet .. 333 Zenith Rad ....
RE Ee ERE EERE
SU drs 4
18%2
Complete New = York stock quotations are carried daily in the final edition of The Times.
Incorporations
Ajax Industrial Supplies, Tne., Ft. Wayne; amendment increasing capital stock to 900 shares no par value. Weigand, Incorporated, Indianapolis; change of agent to Mrs. Luzelle Troxell, 3331 Brora ave., Indianapolis. Hoosier Farm Bureau Life Insurance Co., Indianapolis; amendment of articles of Incorporation.
SRI EIR AMERICAN
‘Inconsistency’
has’
- (tant.
«| to % cent, rye off
NEW MATERIALS
of Draft Boards Criticized by
Iron Age.
NEW YORK, Nov. 4 (U. P.).— The long-awaited controlled materials plan for distribution of vital war materials, which becomes effective in the second quarter of 1943, is expected “to sweep away the headaches of priorities and provide greater momentum toward winning the war,” the Iron Age magazine said today. - po In its weekly industrial review, the trade publication explained that the newly established plan calls for control over distribution of steel, copper and alumipum and “later may be applied to other war materials” . “It abolishes preference ratings, but not until June 30, 1943. In general it represents a compromise of many points of view as to how these important war materials should be rationed to give the United States war machine maximum power.” The magazine warned, however, that difficulties of material distribution possibly to the end of the war, because of quick unpredictable shifts of emphasis from one weapon to another and sudden changes in
pany constant efforts to win and maintain quantitative and qualitative superiority over the axis in planes, ships, tanks and guns. Commenting further on its recent manpower survey, the Iron Age said that the inconsistency of draft board decisions on deferment of essential workers is providing one 2iof the major problems in the nation’s manpower situation. The magazine said that “some industrialists believe that on the whole draft boards are doing a good
s job,” but pointed to the answer of slone company in the survey which
said: “Our chief trouble is trying to get definite policy decisions from draft boards. Some boards take
:- |away men who are key men from
our organizations. Others defer men ‘who are relatively unimporWe want to co-operate by letting our less important men go, but we also would like .co-operation from draft boards for the reten-
% | tion of key men.”
ELECTION RETURNS | AID GRAIN PRICES|
CHICAGO, Nov. 4 (U. P.) —Election news strengthened grain futures on the Board of Trade to-
s|day. May rye futures were inde- . | pendently irregular.
At the end of the first hour wheat moved up % to % cent a Bish corn up 3% «to 1% cent, oats up !? 4 to up % Do and soybeans inactive. In the December options wheat was up % to % cent a bushel, corn
- up 3s to ¥ cent, and rye up % cent.
The grain trade regarded the in-
4| dicate defeat of Senator Prentiss
Brown of Michigan with optimism. The president and Leon Henderson were said to have acted in setting flour ceilings based on parity return according to the interpretation of Senator Brown.
Florence Stove Co. 9 months ended Sept. 30 net profit $652,304 or $1.89 a share vs. $972,728 or $2.82 year ago.
PLAN IS HAILED &
| 900-1100
“unavoidably will continue,” | Mediu
specifications which must accom-|M
80- 120 pounds CATTLE (1325)
Sladghter Cattle & Calves Steers
pounds ....... pounds ... pounds PoUNdS .sescssccncne
[email protected] [email protected] + 15.7%@117.00 [email protected]
1300-1500
Good= 700- 900 14.50 @15.50 [email protected] .. [email protected]
pounds cevsesscscsas pounds pounds ... . pounds c.cesesecssss
1100-1300 es 1300-1500
Medium-— 700-1100 pounds ..ceocecccssee 1100-1300 pounds s.ecceccsesse
[email protected] [email protected]
common 700-1100 pounds .... [email protected]
s0cs00ve
Cholce— 600- 800 pPoUNdS ccecccscssee 800-1000 pounds c.ccecssscce
[email protected] [email protected]
Good— : 600- 800 pounds ....ecccecsee 800- Tove pounds
Mediu 500- 900 pounds ..eescecccses
Common 500- 900 | pounds .
Cows (all weights) GOOd .eosrrciacrerennnonnecnns 10. 25@11. 50 Medium . . Cutter and common ....cec00.
Bulls (all weights) (Yearlings Exeluded)
[email protected] [email protected] [email protected]
eve cccsscevscone
Sausage— Good Call Welgnie) esssssess [email protected]
[email protected] [email protected]
CALVES (425)
Vealers (all weights)
Good and choice .. [email protected] Common and medium ... 00 . Cull (75 lbs. up)
Feeder & Stocker Cattle & Calves Steers
ccsessecsces [email protected] eesesssscscce [email protected]
essesssssssss 11.00012.00 ®00000000008 00 [email protected]
escsscsssecses [email protected] os [email protected]
Choice— 500- 800 pounds 800-1050 pounds
Good— 500- 800 pounds 800-1050 pounds
Me 500-1000 pounds
Common 500- 900 pounds ccecccceces Calves (steers)
Good and Choice— 500 pounds dOWR seesesseess [email protected]
edium— i 500 pounds dOWR .c.ce.qeeee. [email protected] Calves (heifers)
nd Choice— gl dOWD ceccoccces. [email protected] MS Imets AOWD eeoes [email protected] SHEEP AND LAMBS (800)
Ewes {iborn) Good and choice Common and choice Lambs
ssscesce
..$ 8. Xa $ 2 0@ 5
eevee 4.0 Good and choice eee 14.25@ 14.50 i nd od [email protected] i ge [email protected] Yearling Wethers
hoice [email protected] Sona ehate cesereeen seeeee 11.00211.50
OTHER LIVESTOCK
FT. WAYNE, Nov. 4 (U. P.).—Hogs— Steady to 5 cents higher; 240-280 Ibs. $14.40; 200-240 lbs., $14.30; 160-200 1Ibs., $14.20; 280-300 lbs., $14. 3 330-350 1bs., $14.20; 250-400 1lbs., $14.1 150-160 1lbs., $14; "140- 15¢ 1bs., $13. 18; 130-140 1bs., $13.50; 100-130 1bs., $13.25. Roughs, $13.50; stags, $11. 75; male ‘hogs, $9.75 down; calves, $16; lambs, $13.75; ewes, $5.25 down. 4 (
CINCINNATI, Nov. ! 3275; weights over 160 lbs., 10c higher; lighter weights, 25¢ higher; sows, steady; top, $14.60 paid for good and choice 180240 1bs.; 160-180 lbs. and 240-260 1Ibs., $14.55; 260-280 1lbs., $14.50; 280-300 lbs. $14.45; 300-400 1lbs., $14.30; medium and good 150-160 1bs., $14. 25; good grade sows, [email protected]. Cattle—450. Calves—250; most offerings on sale consisted of cows;. scattered lots of stockers and feeders and some slaughter steers and heifers; choice 1200Ib. steers, $14.50; most steers common and medium, '$10@13; some kinds around, $10 @10.50; moving to country as feeders; light weight common and medium butchers heifers, [email protected]; choice 400-1b. mixed stocker calves, $13.50; common and medium beef cows, [email protected]; good joung cows up to $11.50; canners and cuiters, [email protected]; good bulls, [email protected]; common and medium, [email protected]; vealers steady, top, $16; good and choice, $15@ 16; out grades, $14.50 down, Sheep—600; fat lambs, steady; | full wooled lambs, $14.50 down; 77-1b. choice clipped lambs with No. 1 pelts, $14.75; out grade lambs down to $7; good fat slaughter ewes, $5@86, $
U.S. STATEMENT
WASHINGTON, Nov. 4 (U. P.).—Government expenses and receipts for the current fiscal year through Nov, 3, compared with a year SEO:
This Yea Last Yea Ripepses $22,569,303, 383. 36 $7,182,420, 455. 14 Spend 20 540,635,743.48 5,004,755,579.15 Spbend 4,504, 8 46,700. 74 2,415,373,391.28 Net - ef. . 18, 062,087,932.61 4,715,438,613.86 Cash Bal.. 5,303, 658, 392.17 2,642,119,005.28 Work. Bal, 4,541,153,580.94 1,885,821,421.25 Pub. Debt 97, 736, 459, 183.93 61,030, 646, 307.44 Gold Res. 22,739,759,308.56 22 199, 493,108.54
INDIANAPOLIS CLEARING HOUSE Clearings Debits Maryland Casualty Co. as of Sept. 30 total admitted assets $58,152,608 vs. $43,134,022 a year earlier; cash
U. P.).—FEogs—
$8,779,302 vs. $8,167,297.
Men's
Hundreds . of garments to select from! 1
NATIONAL BANK J
| Pace Any Garment oY
& OVERCOATS
See these unredeemed clothing -- values before you buy!
ice tr Ea 0 Suis now! You'll be with the savings!
SUITS 95
OTHERS at" 4.95 6.95 | "1.96 4
5
want a Bargain-If you're : Io wal longow
ou really earing serv: investi. better
e Jookout
case would come to about 5 per “cent of the $3000 gross income.
PROFIT MARGINS TURNING LOWER
Conference Board Places Earnings on Sales at 5.4% in 1941.
NEW YORK, Nov. 4 (U. P).— Profit smargins reported in 1911 by the automotive, chemical and metal products industries were sharply below the previous year, the Conference Board said today.
Surveying industrial earnings after taxes, the board also found marked declines in the profit margins of the paper and allied products group and the stone, clay and glass products industry. It noted gains for forest products, the petroleum and coal industries and the non-manufacturing corporations. “Last year United States factories handled about $30,000,000,000 more in dollar volume and 30 per cent more in physical volume than in 1940,” the board asserted. “Earnings on sales, after taxes, dropped to 54 per cent from 6.1 per cent in 1940 and 5.6 per cent in 1936.” Preliminary data indicated that the drop primarily reflected sharply lowered margins in the metal, automotive and chemical industries, whereas margins continued to rise or remained relatively unaltered in industries previously below the average rate of return, The board’s study showed the fol-
lowing percentages of net income
to sales volume for 1941 compared with 1940: Food,ebeverage and tobacco products grouped at 3.3 per cent against individual figures—of 3.0, 5.4, and 7.5 per cent, respectively, in 1940; textile, apparel and 0| leather grouped at 2.4 per cent against individual figures of 34,
0113, and 22 per cent, respectively;
rubber 5.5 against 4.8; forest products 39 against 3.6; paper 5.9 against 6.8; chemicals 9.1 against 10.9; petroleum and coal 5.0 against 3.6; stone, clay and glass 8.3 against 9.0; metal 7.2 against 8.4; automobiles and equipment 8.1 against 9.2;
mining and quarrying 5.8 against |
44; construction 2.6 against 19; trade 19 against 1.7, and service 2.0 against 1.9.
URGES GAS STATIONS
T0 GET ‘A’ FORMS!
Gasoline filling station operators in Indiana should go to their local rationing boards to obtain supplies of form R-534, the application necessary for motorists to obtain basic A gasoline rationing coupons. State OPA Director James D. Strickland said this form must be filled out before it is presented at high schools on Nov, 9, 10 or 11.
WE Buy Diamonds
HIGHEST Pay PRICES
STANLEY “Jewelry Co.
113 W. Wash. Lincoln Hotel Bldg.
i.
Want to Learn a New Language?
NEW YORK, Nov. 4 (U. P.) = The New York Institute of Fie nance today announced courses in military German, elementary colloquial Japanese, and celestial navigation. Jacob Bleibtreu, member of the New York Stock Exchange, who acted as intérpreter and interro= gator of prisoners of war with the general staff of the second U. S. army during the last world war, will conduct the German language course, beginning Nov, 12. The class is open to any citizen of the united nations sho has a knowledge of German. Burton Crane, financial writer of the New York Times, who spent 11 years in the far east, will conduct the .Japanese course, starting Nov. 17. The celestial navigation course will commence on Nov. 16 under direction of Capt. Theodore Nelson, U. S. N. R,, retired.
OIL SHORTAGE LIFTS N. Y. STEAM SALES
NEW YORK, Nov. 4 (U. P.).— The fuel oil shortage lifted new steam business of Consolidated Edi son Co. of New York, Inc. for the first nine months of 1942 to a level five times greater than in all of 1941, the company disclosed today in an interim report to stockhold= ers. At the samé time, the company revealed that occasiapal blackouts and the steady dim-out during the five months ended Sept. 30 had cut its electricity sales and revenues, with power sales down about 65, 000,000 kilowatt hours and revenues off approximately $2,600,000. New contracts for steam service in the first nine months amounted to an estimated annual use of steam of more than 3,000,000,000 pounds and an estimated annual revenue of more than $2,789,000, and were “more than five times that contracted for in all of 1941,” reflecting “conversion of buildings from fuel oil to central station steam sérvice,”
LOCAL PRODUCE
Heavy breed Jens, full-feathered, 19e3 Leghorn hens, 16¢c. 8pringers 112 Ibs. and over: sored, 20 barred and Hijte rock, 21c; cocks, Roasters, 4 1bs. and over; colored, Rios white fret 21c; ‘barred rocks, 2 c. All No. 2 poult Ty. 3 cents gL B8s—Current receipts 54 ‘Be. ‘and up,
Graded Eggs—Grade A, large, 39% sarade : A, edn, 37c; grade A, small, 2 no
grade. 3 c. —No. 1, As@4aien: No 3, 460 arn “busteriat, No. 46¢; No. 2, 43c. (Price. produce oy Py Indiane apolis quoted re Wadley Co.)
WAGON WHEAT
Up to the close of the Chicago marked today, Indianapolis flour mills and. grain elevators paid $1.24 per bushel for No. 3 red wheat (other grades on their merits). No. 2 yellow shelled corn was 95¢ per sushel and No. 2 white. shelled corn, 88c; No. .2 white cats, 46c¢, and No. 3 red oats, 46c.
RE-WEAVING
MOTH HOLES—BURNT or WORN SPOTS
LEON TAILORING CO:
In th ddle .of 235 Mass Ave, 5.5, Mode e
of
ASKIN & MARINE
Good Clothes, Easy Credit 121 W. Washington St.
WASTE PAPER
AMERICAN PAPER’
STOCK COMPANY RI-6341 320 W. Mich.
USE YOUR -SREpIP at
MOSHING
CLOTHING COMPANY
131 W. Washington S
Directly Opposite Indiana Theat
WHEEL CHAIRS Why buy one? Rent one at HAAG’S ALL-NIGHT
DRUG STORE
You Save Because We Save Men's Suits & Overcoats
$ I 6” $ s 8” 2 |’ 5 24” CASE CLOTHES
215 N. Senate — — Open 9 to 9
HANGERS—Ic EACH
We buy usable wife Semmens Jange
41 Stores All Over Indphs. |
AVIS CLEANERS FUR COATS
Largest Selection in the State
INDIANA FUR CO.
112 East W ABINGTON AX
100% FUR FELT] HATS : 39%. pg. 83%
= No. Wool Content £33