Indianapolis Times, Indianapolis, Marion County, 15 December 1942 — Page 18
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ALLIED STEEL POOL
FING CONSIDERED
Also Include Munitions Resources of United
States, Great Britain and Canada; Committee - Working in Washington on Plan.
WASHINGTON; Dec. 15 (U. P.).—Complete pooling of the vast steel and munitions resources of the United States,
Great Britain and Canada was expected today to result from discussions in the next few days by a joint steel committee of
all three countries. The committee, meeting of Hildan G. Batcheller, chief of the war production board’s iron and steel division, will treat the steel and munitions output of the three countries as a single unit to enable their maximum impact to be directed towards winning the war. Pooling of allied shipping and food resources already is in operation, and office of war information officials indicated that a similar shareout policy for steel and munitions
+ is aimed at,
First move toward pooling of steel and munitions was a visit to Great Britain by an American steel mis-
ir sion last August under the auspices
of the combined Anglo-American production and resources board. It spent & month in Great Britain
studying ways to increase total
production of steel in both countries. Officials said the study revealed the British steel allocations system to be superior to the American priority system. Has Five Main Tasks
The new joint committee has been instructed to recommemi means of increasing steel output and obtaining the most efficient possible use of steel in the combined war production program in 1943. The
. committee was given five main in-
structions:
here under the chairmanship
PORKER PRICES ARE UNCHANGED
11,000 Hogs Arrive At Stockyards.
Hog prices were generally steady at the Indianapolis stockyards today, the agricultural marketing administration reported. The top was $14.25 for good to choice 160 to 200-pounders. Receipts included 11,000 hogs, 2100 cattle, 575 calves and 3200 sheep. HOGS an 120- 140 pounds cece. $13.00 140- 160 pounds evee..ccoees 13.50 160- 180 pounds ... ee 14 180- 200 pounds ..
pounds .. pounds
3. 75
sesesse
330- 160 14. 15@ 14.20
Medium— 160- 220 pounds Packing Sows Good to Choice— 300- 330 pounds
330- 360 pounds 360- 400 pounds
1. To obtain, assemble and ¢€0-|Good—
ordinate information on iron ore and scrap, iron and steel production and requirements of iron and steel of the united nations in such form as will enable the supply and requirements position to be kept continuously under review by the com-
“bined production and resources
board and the combined Taw ma. terials board. 3. To consider and make recommendations on means of increasing production and improving the efficiency of the use of steel and distribution facilities in the united nations, including facilitating exchange of technical information, in-
: formation on trade practices and ° measures of conservation and limi-
tation of use. 3. To consider and make recommendations on unified systems of definitions and terminology. 4, To undertake such special inSuirjes as may be directed by either boar 5. To recommend as necessary any action which may be taken by
either board to adjust supplies and 8
requirements to one another. The committee has seven mem-
bers—three each from the United|®*™
States and Great Britain and one from Canada.
LOCAL ‘ISSUES
Nominal quotations furnished by local unit or National Association of Securities Dealer Bid Asked
ris Pin Corp com 4 gents Fin Co pid. jelt RR Stk Yds c t RR Stk Yds 6% , pid. vane Ss m
12% Home T. Ft Wa, 7 fd. 51 Home TAF FY wavn i 95
Amery Iota & 4 ii. ewspa s 42 Ch Com Bldg Co 4Y%s 5i.. opel Ind Tel pi 6 ... "108 Fin 5s 60
Indois P&L 3Y%s Railway
Indpls Water Co 3%as 68 Water > Works 5s 58.. Packing Co 4%zs .
w Trac Term Corp bs 57 *Ex-dividend
WAGON WHEAT
_. Up to the close of the Chicago market today, Indianapolis flour mills and grain aid $1.33 per bushel for No. 2 red “rg (other grades on their Mere). No. 3 Wikis aais, and No. 2 red oa No. 3 yellow corn, 78c per bushel pats No. 3 white corn, 98c.
BEL TNEI YR: AUTUAL AGENCY Inc
AN
400- 450 pounds 450- Sle pounds oes
Mediu 250- 550 pounds ec..ee..
Slaughter Pigs Medium to Good— 90- 120 pounds CATTLE (2100) Slaughter Cattle & Calves
cesrenessess [email protected]
Cho 70! 90( 110( pounds 1300-1500 pounds Coos 900 - po 900-1100 1100-1300 1300-1500 Medium— 700-1100 pounds .....ecseseees 11.5 1100-1300 ‘pounds ...essecevese 11.50
15. .00@16. 25 [email protected]
Poe ve 13. 50@15. 00
ssscenes
3.50] © 5: 50 Common— 900-1100 pounds Cho!
ice— 600- 800 pounds 50-1000 pounds ..
15.00
veris 1000 ow 15.00
cesses 14.00
14.00
I "800 pounds ...eeesseeese 13.00 14.00
800-1000 pounds rarveens 1300
Medinm— 500- 50 pounds ...... eensres [email protected]
Comm 500- 900 | pounds
Cows (all
Bulls (all weights) (Yearlings Excluded)
. [email protected] [email protected]
«eo. [email protected] [email protected]
Beef— EE sessae enna avanns cose Sausa Good (2 (all Weights) Medium
Cutter and common ....
’ CALVES (575)
Vealers (all weights) Good and choice 33 3801850 .50 Common and medium Cull (75 lbs. up) [email protected]
Feeder & Stocker Cattle & Calves Steers
Cholc: Re 500- 800 polind 800-1080 Donny Googe 00- 800 pou 200-1050 pounds Medium-— 500- 1000 pounds .... Common 500- 900 } pounds Calves (steers) Good and Choice— 500 pounds down Medium 500 pounds down Calves (heifers) Good and Choice— 500 pounds down
[email protected] esssesasnins [email protected]
nds cesessesce.. [email protected] [email protected]
[email protected] [email protected]
[email protected] [email protected]
[email protected] [email protected]
SHEEP AND LAMBS (3200)
Ewes (shorn) Good, and choice Common and choice Lambs Good and choice Medium ‘and good Common
edium— 500 pounds down,
Yearlinz Wethers \
Good and choice 14.00 Merium 12.50
CHICAGO LIV LIVESTOCK
Hogs—Receipts, 23,000; PRairly active; most sales steady to strong with Monday's ood and choice 200-300 14.10; a few good an
14.25 13.75
. ; top, § choice, 150-190 1bs. avaiibale at $13.50 to
90; sows about steady; spot easier compaged Monday’s quotation; good and choice! sows 400 lbs. down, $13.90@14; bulk 450-550 1lbs., [email protected].
Cattle—Receipts, T7000; calves, 1200; fed steer market a little more active, steady; bulk, $13@15; common and medium arades, $11@13; choice 1356 1b. steers, $16.10; woiters fully steady; bulk $12@ 4.25; with common and medium grades, ait. top, $15; cows steady, cutters 8.50 dow n; most canners, $6.75@"7.50; beef cows, [email protected]; bulls fairly, active; bulls up to $12.50; vealers steady at [email protected]. Sheep—Receipts, 8000; late Monday: fat lambs Siosed active, Da, $15.50 ‘paid
: top. by all ui good for wooled lambs;
Ford bulk to choice, 85-95
1 to summer shorn
ling $a $5014, 25; ewes strong EB higher; medium to good, $7. 560. 35 common, $6.50@7. Today's trade: slow, early sales and most bids on good choice wooled lambs weak to 25 cents lower at $15.25 down, held upward to 3is.50: 3 decks of choice summer shorn lambs, $15.25; deck good. to choice 2 ings, i. 25; no slaughter ewes sold early.
LOCAL PRODUCE
Hea breed hens, full-featherd, 20c;
avy Leghorn hens, 17c. Springers 1% lbs. and yor: ig
hite roc barred and white k, color red, 316;
ters, 4 Ibs, and oh white rook, 22¢; barred roc 2’ poultry, 3 cents less, regeipts 54 54 lbs. and up,
All No. ade A, large, 30c; grade 29 fedjum, To; grade A, sm small, 25¢; ro Butter—nNo. 3 Jaap: No. 2, se il igri 2 rs dailvsied at “Indian apolis quoted by Wadley Co.
iuoted by Watley £0) in RUST SPEAKS THURSDAY Hilbert E. Rust, a ate editor of the Insurance and Re-
ee ai will address the Association
[) Tiny
Top Remains at $14.25 as|
:'’ 13.50@1370| Douglas Ail ... [email protected]| EL
Nat Biscuit .00| N: Ri
7.50 Un Sas |
5.25; ip to choice Jet .
1942 1943
America’s aircraft must fly off the production lines even faster than they did this year to meet the 1943 goal of 125,000 planes. Chart shows wobbly rise in 1941, spurt to 49,000 in 1942 (11,000 short of president’s -goal), and probable rise in first months of 1943,
YEAR--AYRES
Bank Official Predicts More Sacrifices, Increased
Production.
CLEVELAND, Dee. 15 (U. P).— With taxes the highest in the nation's history’ individual American businessmen and corporations face what probably will be the toughest year of the war in 1943, Brig. Gen. Leonard P. Ayres predicted today. Gen. Ayres, vice president of the Cleveland Trust Co., said that readjustments already caused by the war have been only the “preliminaries” to the real sacrifices and restrictions of an all-out war effort which must be made next year. In his monthly business bulletin, Gen. “Ayres asserted that some 50 million individuals will be paying taxes in 1943 on their 1942 incomes, as compared with only 17 millions who paid taxes on their 1941 incomes. “Most of the newcomers now owe
N. Y. Stocks
Complete New York stock quotations are carried daily in the final edition of The Times. «
Net Last Change 9-33 41-32 “8
Ys
High oo 9-32 ..138% . 25%
Allegh Corp Allied Chem . Allis-Chal .
tl | +:
BEER LL: 44:
bi —- &
. . . » .
Indpls Pw & Lt 11% Int Harvester.. 56% Int Nickel .... Int T&T Johns-Man .. Kennecott ee Kresge SS .... Kroger G&B .. L-O-F Glass .. Link Belt ... Mont Ward ... 32
FEE +4: ERsssest Es se
at C Nat Dairy - NY Central’ .. 10 Ohio Oil ve Packard Pan Am Aunwys Penn R y 2 Phillips Bot. . Procter & G ... Pure Oil ia Radio
Rem Ran v1 Republic stl’ ie Sears Roebuck Servel Inc .... Socony- Vacuum South Pac . 14 Std Sl ind a) St: oo 44
ltd:
+14: 4:
Stokely Br ... Studebaker .... Swift & Co . 25| Timk-D Ax Ye 35 United Aircraft 24%
10! U 8 Rub wr 99%, US Stoel. pf .108% Warner Bros we 3%
West RR West Air Bie vo 16% Westing El .. 78%
+++ +4 ++:
ro
Sheet. Rad .. 1
ACCOUNTANTS HOLD TAX QUIZ TOMORROW
The annual “Information Please” meeting: of the Indianapolis chapter of the National Association of Cost Accountants will be held tomorrow at 6:30 p. m. in the Lincoln hotel. Members will attempt to “stump the experts” on income tax questions. The four experts are Charlton Carter, Charles Murray, James Rose and Troy Thurston. Joseph B. Baerncoff will be chairman.
WHEAT PRICES AT
Zenit,
+++++ | FEES
CHICAGO, Dec. 15 (U, P.).—Grain futures advanced on the board of 5| trade today. Wheat and rye estab%1ished gains of as much as 1 cent a bushel, wheat reaching a new season high. In early dealings wheat was up % to 1 cent a bushel, corn up % to 3, oats up %, and rye up 1 cent. Soybeans were inactive. Offers continued light in the wheat market and were absorbed quickly by commission
acted as a constructive factor, and some mill buying contributed to the
NEW SEASON HIGH
conspicuously N
the government tax debts about which many, and perhaps most of them, have made no provision,” he declared. “The existence and the sizé of those tax debts will come as painful surprises to great numbers; of the new taxpayers.” *
Last “Big” Holiday
Gen. Ayres predicted that the present big holiday season for retailers would be the last for the duration because in many lines the stocks now being sold cannot be replaced. However, he said there will be no actual shortages of essential foodstuffs and clothing, Despite the prospect for somewhat higher retail prices in 1943, it is probable the dollar value of retail trade will be reduced next year
%by about one-eighth below the 3% levels of 1942, he said.
Gen. Ayres said that although the united nations have seized the offensive and recent war news has Been favorable, “it appears probable that we shall still be engaged in active warfare a year from now.”
Income to Rise
Other prospects for 1943, according to Gen. Ayres, included: Industrial Production — Probbaly will be more than 10 per cent greater. National Income — Probably will be between 15 and 20 per cent greater next year over the 112 billions in 1942. Wholesale Prices—Likely to advance by about 4 to 6 per cent from 1942 to 1943.
to rise about 5 to 10 per cent, depending on rationing. It increased
+ [10 per cent this year over 1941.
Bituminous Coal Production— About 5 per cent greater than 1942, Freight Traffic on Railroads— About 32 per cent greater, measured in ton-miles. Production of Ingots and Steel for
s |Castings—Will repeat record-break-%|ing output of 1942, but by no more
than 6 per cent.
: NATIONAL INCOME
TO HIT 130 BILLION
WASHINGTON, Dec. 15 (U. P.) — The federal reserve bqard today estimated national income for the present fiscal year at $130,000,000,000, and said federal, state and municipal taxes would absorb 24.5 per cent of the total. This compares with 38.9 per cent in the United Kingdom and 39.1 per cent in Canada, where the national incomes were estimated at $28,000,000,000 and $6,400,000,000, respectively. The - United States will collect $31,000,000,000 in taxes, the United Kingdom $10,300,000,000 and Canada $2,500,000,000, the board said. Federal taxes in the United States, approximately 16.7 per cent of the total, were placed at $21,800,000,000, and state and municipal taxes at $10,000,000,000. The board
would amount to 6.3 per cent of the national income, business income taxes 6.6 per cent, property taxes 3.6 per cent and excise and miscellaneous taxes, 8 per cent.
U. S. STATEMENT
WASHINGTON, Dec. 15 (U. P.).—Government expenses and receipts for the current fiscal year through Dec. 13 compared with a year ago: This Year. Expenses $31, War Spnd. 28,71
Last Year, 8,301,471.25 $9,976,960,638.61 854,072.
houses. The strength of cash wheat | gol
firm tone.
capacity of Boulder Dam. Chrysler - President K. I. Keller said in a letter to stockholders that the date when production of the high-powered engines’ would begin was a military secret. He added, however, that the army air force had permitted him to disclose details of the plant itself. The sprawling industrial unit, which will be known as the Dodge Chicago plant, ‘will consist of 15 buildings, one of them large enqugh to cover 50 city bfocks, Keller said. The aircraft engine machining; and assembly building will dwar! Chrysler's huge tank arsenal on the
“loutskirts of Detroit, he said.
The plant also will include two
large foundries, two Yorge shops, | - a heat treating and die shop, testing buildings, a tool shop and mis-
[os rie a + nc Slianschs strusiures such 36 ool dipiss, ot
World's Biagest Factory: Chrysler's Chicago Plant
DETROIT, Dec. 15 (U.P.).—Chrysler Corp. announced today that its aircraft engine plant under construction at Chicago would be the world’s largest manufacturing unit, capable of producing each week engines equivalent in terms of horsepower to‘ the entire generating
tude could be obtaified, Keller said, from the fact that 150 carloads and 800 truckloads of building materials are being used in construction each day. Keller said facilities would be provided for more than 10,000,000 gallons of water a day. Enough sewerage, water, gas and electricity would be supplied to serve a city the size of Térre Haute, Ind, or Troy,:N. Y.,
he said. . Power to be supplied by the plant’s boiler unit will be sufficient
jlo heat in cold weather 16 city
blocks of three-room apartment houses, Keller said, and 500 miles of telephone wire will be strung through the plant. Concrete used in. construction of the plant, he said, would pave a highway Shon Ne New York to I : build a concrete
= OUEST |
. Cost of Living—May be expecteq
said ' personal income levies “would
i Lincoln H. Lippincett of Chicago, national secretary of the “Not Over 50 club” and safety en~ gineer for the Lumberman’s Mutual Casualty Co., will speak at a meeting of the Industrial Safety club of the Indianapolis Chamber of Commerce tonight at the Claypool hotel. -
KRESGE C0. TO PAY CHRISTMAS BONUS
The S. S. Kresge Co. announced today it is granting a Christmas bonus to every person in the company’s employ, including the parttime and extra employees. Approximately 400 employees of the two Kresge stores in Indianapolis will participate in this distribution. Individual amounts are determined by the length of service. Christmas “remembrance” dlieoks have already been mailed to the nearly 900 Kresge men now in the services. Employees are urged to buy war bonds and stamps with the bonus.
and tires.
Clearings ......cece000e0ses. Debits esses sses0s00ssRste
Réceipts escessesssecanie Permits . eessecessscssesoee HOUSES ...cccocoosvcsscccoccscs Apartments ...ccsvees0000s000. Business ess00s00000000c00b ORS Industrial ...ccco0c000000000000
3 Repairs & Alterations sesssdoce Applied for Jobs SVEN RINNTY Received Jobs S08cesssscssesioncense
Electricity Ouiput wh) .......... Water Pumpage (gallons) ........ “Streetcar Passengers (Dec. 5) eevee Telephones In Use (Dee. 10) esssece Livestock Receipts (head) eeseocoee Cattle 000000000000 0000000000000 Calves - Hogs
Sheep @e%sscseceeccsssessnscece
Grain Receipts (bushels evssssness
Corn SO 0NINNIBRNNNNNROOINRNIINTS
Wheat Oats
Rye eessasabscesestesssessssses
Soybeans Casscesesvess nesta nee
Last Week Last Week Week Before A Year Ago $28,351,000 $32,693,000 $26,664,000 $76,232,000 $97,353,000 $67,449,000 $144,045 $129,585 $116,495 $81,360 $50,950 $78,942 $53,100 $14,500 $57,200 $21,500 0 $1,000 $2,000 0 . $6,100 o 0 $5,760 $13,642 . 849 1172 928 732 132 391
3,722 2,245 18,627,000 278,180,000 1,920,372 +222 90,905 7,829 2,930 64,132 16,014 520,000 312,000
4,214 2,481 18,725,000 . 280,060,000 2,257,449 +145 83,324 7.835 2,800 57,392 15,297 664,000 354,000 129,000 169,000 16,000 22,000 0 0 165,000 17,000
4,107 3,020 16,328,000 259,480,000 1,562,962 +151 61,436 6,258 2,215 42,912 10,051 629,000 539,000
18,000 23,000 18,000
Ww
© 3L,000
Indianapolis Business Summary
1942 Thus Far $1,388,867,000 + 14.0 $3,737,205,000 + 19.2 $4,901,723 4 6.0 $6,753,177 — 30.3 $3,915,880 $21,500 $279,191 $1,978,140 516,300 $058,383 62,774 31,384 15,934
% % Clan — Far 42 vs. '41 $1,218,638,000 $3,135,465,000 $4,623473 $11,124,755 $6,796,445 $2,837,125 $1,358,260 $1,828,450 $684,000 $1,002,380 54,113 32,990 16,386
209,098 132,766 702,361,000 12,785,910,000 65,944,837 110,236 2,912,258 261,744 142,739 2,143,868 327,427 33,717,000 22,885,000 4,304,000 5,198,000 279,000 1,176,000
199,545 125,213 786,920,000 13,517,360,000 87,462,410 120,626 3,038,582 325,789 147,320 . 2,213,756 355,507 32,325,000 22,641,000 7,901,000 4,690,000 330,000 756,000
+ 1 £28
l++++++++
Sources of above figures: Indianapolis Clearing House association, Indianapolis postoffice, city building commissioner, Indianapolis office of the U. S. Employment service, Pennsyvania railroad, New York Central railroad, Baltimore & Ohio,
Illinois Central, Chicago, Indianapolis & Louisville /(Monon); New York, Chicago & St. Louis (Nickel Plate); Indianapolis
apolis Power & Light Co.
GROUP INSURANCE ~ 48% ABOVE 1941
NEW YORK, Dec. 15 (U. P.).— Group insurance writeups rose sharply in November and the first 11 months of this year in reflection of the rise in wartime employment, according to & report of the Association of Life Insurance Presidents to the U, 8. department of com-
merce.
November group coverage writeups by the 30 American companies having 81 per cent of the total life insurance outstanding in legal reserve companies amounted to $114, 180,000 against $89,360,000 in the year-ago month, a gain of 27.8 per cent, For the 11 months ended Nov. 30, total writeups were $1,-
082,510,000 against $730,114,000 a year-to-year rise of 48.3 per cent.
December 15 to January 10
train between December 15 and January 10 are asked to make advance application, in person if possible, to the nearest Illinois . Central agent for coach space allotment, giving date and train on which trip is to be made, going and returning. Applications will be handled as quickly as possible in the order received and space
allotted in a designated coach. If no space is available on date and
vations will prevail as follows:
hours prior to train time. ;
train preferred, choice of alternate dates and trains may be available. Tickets will not be sold if no space is available. Space allotment
Water Co., Indianapolis Railways, Bell Telephone Co., Agriculture marketing service, Indianapolis Board eof Trade, Indiane
~~
DAILY PRICE INDEX
NEW YORK, Dec. 15 (U, P.).= Dun & Bradstreet’s daily weighted price index of 30 basic commodities, compiled for United Press (1930-33 average equals 100): Yesterday $ec800000000000 cco 164.10 Week AZO .ccoscsoccsscessee 162.711 Month Ago 0000000000000 NS 160.10 Year AZO ...cccconvnncoorcce 150.40
1942 High (Dec. 14) .ccveeses. 164.10 1942 Low (Jan. )....eceencee 151.54
ALL PASSENGERS WILL BE REQUIRED TO MAKE RESERVATIONS FOR COACH ACCOMMODATIONS
AS WELL AS SPACE IN SLEEPING CARS
ON ALL ILLINOIS CENTRAL TRAINS
Train travel over the holidays is always very heavy, and this year the demand will be far greater than ever because of military movements, furlough travel, essential war business, and rationing of gasoline
In order that those who must travel may do so as comfortably as possible, all accommodations on all Illinois Central trains will be reserved. This will enable passengers to plan their trips with confidence; and complete them as planned.
COACH ACCOMMODATIONS —How to Obtain Them
Passengers desiring coach accommodations on any Illinois Central
card will accompany each rail ticket when purchased. Only passengers holding space allotment cards and rail tickets may trains. Reservations made at points from which space is to be used
will be held until 5:00 pm of the
next business day. Reservations
made elsewhere will be held until 5:00 pm of the third business
day. Tickets should be purchased tickets are not purchased within automatically cancelled.
SLEEPING CAR ACCOMMODATIONS
Sleeping car and rail tickets should be purchased when reservations
are made. The customary conditions governing Sleeping car reser-
1. Reservations made on day of departure will be held until 3
2. Reservations made 13 days in advance or less at poi
when reservations are made. If these minions space will be
nts from
which space is to be used will be held until 5:00 pm of the next business day. Those made elsewhere will be held until 5:00 pm
of the third business day.
3. Reservations may be made more than 15 days in advance hy
arrangement with ticket agent.
Space allotments and reservations a are subject to cancellation without notice if it becomes necessaty to give preference to military movements.
Our telephone service is carrying a heavy load, and we would therefore appreciate your calling at our nearest office in person. It is advisable to make your plans as far in advance as possible—it may require some time to allot your space. We expect to be able to take care of all necessary travel, but we earnestly urge all whe ean postpone their trips until after January 10 to do sos
For complete information see your nearest refread agent
>
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