Indianapolis Times, Indianapolis, Marion County, 6 January 1943 — Page 15
Auto Industry Is Baling at Post Wer Planning of Autos
THE AUTO INDUSTRY
IS AGING. Already it is ex-
plaining why the first automobiles to be built after the war] ; will be 1942 models, not anything revolutionary as a result
of war developments.
Auto men say it takes two years to bring out a new model.’ But it didn’t take the auto plants two years to figure out improvements and get into. produetion: on airplanes and
engines. The industry’s trade publications claim that it will be eight or nine months before the factories can get back to auto "production. That understandable.
But each com-|.
pany is so anxious to cash in on the rush to buy cars that it doesn’t want to delay production to design cars that will uti-
lize the light met-| ~
als and plastics : now being used . in war material. Mr. Budrow Motor car people think Henry Kaiser's suggestion to design a 1945 car now and take orders for it is plumb crazy. They say all their experts are too busy with the war. Evéry one of them? All the time? When the auto industry's spokesmen say that post-war planning should be left to private industry instead of government, their statements sound rather hollow unless they practice what they preach. When the designers finally have & moment to work out the post-war car, there are a few things that are obvious. It can use a better gasoline, probably 100-octane. The horsepower of the engines won’t need to be as great as in today’s cars. Using light metals, such as aluminum, the car won't weigh as much. Certainly plastics will be used more widely. Some say the engine will be in the rear. If the price of aluminum makes it feasible, the auto industry may become aluminum’s No. 1 customer. And if national income stays around $100,000,000,000, as some expect, auto production might go a third higher than it ever did.
8 =» =»
NO ONE DOUBTS that some auto companies will try to stay in the airplane business after the war. That is a big reason why the young aircraft companies objected to turning over their secrets to the entrenched 3k industry. There may be other new competitors. A rayon maker is dehydrating foods on its dryer. A linotype company is making pre- | cision optical instruments. At tire company, now making radio equipment, bought a radio network. A movie producer is in the television business. And a whisky dis- _ tiller is working on synthetic rubber. 2 2 = ODDS AND ENDS: In Florida spoiled citrus fruit is being turned into alcohol by a new process, « » Apple syrup is being plugged as a sugar substitute, especially in ice cream and candy; it can be made from bruised, unsaleable apples. + » s« The Berlin radio says the Yokohama silk exchange has closed for the duration; in peace-time U. S. took 90 per cent of Japan's export silk, bought much of it on the Yokohama exchange. . , . Many concerns using plywood have only 10 days’ to a week’s supply on hand; lack of lumber .workers in Pacific northwest is blamed.-
LOCAL PRODUCE
Heavy breed hens, 3% Ibs. and over, 23¢; Jens, 21 3% Ibs. and under, 20c; Leghorn Ss Il, 1Y% 1s. and over; colored, 22¢; Barrel and White Rock, 23¢; Leghorn springers, 2le. Roasters, 4 lbs. and over: colored, 26¢c; Barred and White Rock, 2T7c. Stags: Leghorns, 20c; heavy breed, 2lc. Capons, 7 bs. and over, 32c; under Ibs. 29¢; slips, 27c. Cocks, 15c. All No. 2 poultry, 3 cents less.
Eggs—Current receipts 54 lbs. and up,
Graded Eggs—Grade A, large, 39! SSrade A, medium. 37c; grade A, small, 25¢c; no grade, 25¢. Butter—No. 1, 1304810; No. 2, 46@ 46%%c; 'butterfat, No. 1, 46c; No. 2, 43c. (Prices or produce delivered at Indianapolis qu by Wadley Co.)
WAGON WHEAT Up to the close of the. Chicago market today, Indianapolis flour mills and grain elevators paid $1.41 per bushel for No. 2 red wheat (other grades on their merits). No. 2 Fuits oats, 50c, and No. oats, 3 yellow corn, 84c per bushel, i No. '3 white corn. 98¢.-
THIS CURIOUS WORLD
| war production this year than, the
PACKARD WAR
WORK DOUBLES
Produce $1,000,000 Worth Of Plane, Boat Engines Every Day.
DETROIT, Jan. 6 (U. P.), — The Packard Motor Car Co. produced $206,000,000 worth of aircraft and marine engines during 1942, an output more than double its peak peaterime volume, President George T. Christopher disclosed today. Christopher said Packard built more than one and one-half times as many war engines in 1942 as it did during the entire period of the last world war when the firm was the largest: producer of “Liberty” airplane engines. Current production of Rolls Royce aircraft and marine engines by Packard, Christopher said, equals the rate of $1,000,000 daily, During 1943, he added, Packard should produce more than $300,000,000 worth of engines, doubling 1943 output.
U. 8. Gets $9,000,000 blessing for 1943's bottle babies.
Christopher asserted. “So many|department of agriculture’s biggest ‘impossible’ quotas have been|“honer” since the slaughter of little reached that the even greater pigs. schedules now being set by govern-| warehouses all over the counment for 1943 are not considered|try pulged with cases ofevaporated beyond the realm of reason.” milk which, seemingly, no one Christopher said Packard already|wanted. The huge purchase prohad “plowed back” to the govern-|gram was undertaken because our ment more than $9,000,000 as a re-|gitish. and Russian allies were sult of slashing costs on engine Pro-| short of milk duction. v i arketing AdministraChristopher said Packard, which 3 Oe reine a started spent $350,000 engineering its own|y vino ‘it was discovered that roller marine engine in 1939, said 96 per process dry skim milk would require cent of its 1942 volume was war in ace . than canned production. In 1940, he said, only! mi J Shipping =p 5 per cent of its business was war FUE, ison plunged into the output. dry skim milk market but he conThe Packard president said he tinued to buy all the evaporated anticipated “less trouble” doubling milk he could lay his hands on, too. Then lend-lease experts decided company’ experienced converting to the health of our allies and our all-out war output. shipping space could best be conMore Subcontracting served by concentrating on spray . processed dry skim milk. HenGreater subcontracting,”
. he said,| derickson plunged into that market. ‘must be the answer to this rising “Like Money in Bank”
tide of Packard war work. Other manufacturers whose output of de-| Hendrickson bought butter and fensive weapons have been cut, are|eggs and all the other dairy prodbeing asked to visit our plant and{ucts loose on the market. But he tell us what parts they can make|remained true throughout it all to fo help meet these greatly increased| evaporated milk, engine schedules.” While his agents scattered hither Christopher said Packard would|and yon looking for more wareincrease its machine tool equipment {houses to fill with evaporated milk, 10 per cent and boost employment,| Hendrickson let the verbal brickbats chiefly on assembly operations, 20|fly and explained: per cent to handle the expanded] “Some day all that evaporated program. milk will be just like money in the He asserted the Detroit labdr|bank.” situation was “definitely improved| Hendrickson's opponents said that over a year ago,” and praised Pack-|remark just showed how dumb the ard workers for contributing 12,500|man was. A case of evaporated milk suggestions for improving produc-{can’t. be compared with money—it tion during 1942. Already, he said,|has to be turned upside down every more than 1000 of these ideas have|60 days, they said. been incorporated into the Packard| But Hendrickson knew that. He program. had a ‘small army of topsy-turvy
Christopher said “great credit” isjmen at work. All they did all day due the production worker “for|long was turn cases of milk upside thinking for victory as well as{down. Fats coagulate inside the working for it during his long|cans and the milk spoils if it is shifts.” not shaken periodically. By July Hendrickson had 25 milMARGARINE SALES lion cases of evaporated milk in his warehouses to turn upside down. AT ALL-TIME HIGH But. he continued to buy canned milk. He pointed out the departCHICAGO, Jan. 6 (U, P.).—The|ment of agriculture had encouraged current butter shortage spurred|Production of evaporated milk the margarine sales to a new all-time|Year before by pledging liberal suphigh, the department of agriculture|port prices and he would not go reported today. back on the farmers and procesReports from manufacturers in-|Sors who were depending upon dicated that 47,443,000 pounds of margarine were produced during November, 1942, a gain of 15,092,000 pounds over the preceding November.
By William Ferguson
maintenance of those prices. Had 20 Million Cases In :October after price ceilings were established Hendrickson withdrew from : the: evaporated milk market. He had purchased 43 million cases in a: year and still had 20 million cases to be turned upside down in his warehouse. As milk shortages began to de-
Zk | velop Hendrickson was sittiug pret-
| ty.
Besides his 20 million cases of
} | evaporated milk he had 85 million
AN AUTOMOBILE THAT GETS 22 MILESTOA | GALLON OF GAS WHEN | | udeMED LP AND GOING | 25 MILES AN HOUR, GETS - | ONE: = {VZES PES
pound?® of roller process milk powder. Now Hendrickson is. beginning to release some of his carefully preserved hoard to milk hungry consumers. Out of his evapo milk warehouses Hendrickson is releasing two million cases of evaporated milk, a commodity so scarce
The hundreds of cases of evaporated milk, pictured above in the government warehouse at Walton, N. Y,, are but a drop in the bucket of the agriculture department’s tremendous accumulation. Every case had to be—and was—turned over every 60 days.
That 20 Million Cases of Milk Comes in Handy Now
By JAMES CULLINANE Times Special Writer WASHINGTON, Jan. 6.—A hundred million dollar hangover—resulf; of the biggest topsy-turvy project of the war—is developing into a
“We finished the year three weeks The project was the agricultural marketing administration’s evap-| go ahead of our engine schedules,”|orated milk purchase program. At its height the project was called the
in some sections that Mayor La-
prescriptions for consumption by babies.
lion pounds of roller process milk powder so that civilians can continue to eat enriched bread and other food products. But. next spring when milk is plentiful Hendrickson will be back in the milk market. Ten limitation orders will cut evaporated milk production to 70 million cases as compared to 90 million cases in 1942, Hendrickson is planning to buy at least half of the total output. He knows that canned milk is just like money in the bank.
CANADA FILES BIG
(BOND FLOTATION
—The securities and exchange commission today had under registration $90,000,000 of Canadian government bonds, with 13¢ underwriters named. The securities were $30,000,000 each of five-year 2% per cent bonds, due Jan. 15, 1948; 10-year 3 per cent bonds, due Jan. 15, 1953, and 15-year 3 per cent bonds, due Jan. 15, 1958. ° The largest flotation since “last spring’s $100,000,000 American Tobacco Co. issue, the bonds will be offered to the public shortly after | registration is effective, normally in| 20 days. Proceeds were slated for redemption of outstanding ,$100,000,000 of 35-year 5 per cent bonds, due May 1, 1952, which will be called about March 15. The bonds will be exempt from Canadian taxes for non-Dominion residents.
REPRESENTATIVES’ CLUB NAMES BURNEY
Herschel A. Burney of the Burney Brokerage Co. is the new president of the ‘Indianapolis Manufacturers’ Representatives club. Other officers are L. E. Vollrath, vice president; Frank Douthitt, secretary, and H. E. Stanton, treasurer. Clint Prather was named chairman of the entertainment committee, Hal Hasbrook is retiring president.
DAILY PRICE INDEX NEW YORK, Jan. 6 (U. P.).— Dun & Bradstreet’s daily weighted price index of 30 basic commodities, compiled for United Press (1930-32 average equals 100): Yesterday 00080000 ReneeS 167.23 Week-ago cesses sesssssssssss 166.02 Month ago et boBOBIBGROIRGROININONDYS 162.80 Year ago .. 153.16 1842-43 high (Jan. 5, 1943).. 167.23 1942-43 ‘low (Jan. 2, 1942) .. 151.54
CHEMICAL FIRMS MERGE NEW YORK, Jan. 6 (U. P.).— merger of Winthrop Chemical Co., Inc, and Alba Pharmaceutical Co., Ine, two subsidiaries of Sterling Drug, Inc, was announced today by James Hill Jr, president of
Sterling.
GLASSES
PAY AS YOU
Don’t let shortage of cash keep “Gold:
.. engraved from our local branch.
on CREDIT
Guardia in New York has suggested | 5o2™
Hendrickson i releasing 15 mil-|M
PHILADELPHIA, Jan. 6 (U. P.).|u
Top Declines to $14.70 as 9000 Porkers Arrive at * Stockyards.
Most hog prices declined 10 cents at the Indianapaqlis stockyards today, the agricultural marketing administration reported. Weights under 160 pounds were unchanged from yesterday. The top was $14.70 for good to choice 160 to 200-pounders. Receipts in-
cluded 9000 hogs, 1550 cattle, 850 calves and 3000 sheep, HOGS (9 oo seriveseer. [email protected] 14.65
®estsesessesn
[email protected] [email protected] 13. Nel, 89!
[email protected] [email protected]
Good— 400- 450 pounds
450- 500 0 pounds esssessess.. [email protected] Medium: :
- 250< 500 pounds ..... Seienss [email protected] Slaughter Pigs Medium to Good— 90- 120 pounds [email protected] CATTLE (1550)
Slaughter Cattle & Calves Steers
crseas esses [email protected] [email protected] « [email protected] [email protected]
“sessntanten
1300-1500
Good— 700-900 900-1100 1100-1300 1300-1500
Mediurmn— 700-1100 pounds 1100-1300 pounds Common—
700-1100" pounds
eesssssosens 14.25 15.00 [email protected] [email protected] [email protected]
Cestostensne sececegetees cesessashecs
[email protected] sesessscenses [email protected]
Heifers Choice— 600- 800 pounds 300.1000 pounds .... od—600- 800 pounds .....e. 800-1000 pounds .. Medinm— 500- 3% ) pounds
[email protected] . [email protected]
.» [email protected] [email protected]
[email protected] [email protected]
ses esses
500- 900 | pounds Cows (all weights)
[email protected] [email protected]
Bulls (all weights) (Yearlings Excluded) Beef Good . Sausage Good (all weights) dium
« [email protected] “11 112.00
COTE
CALVES (550)
Vealers (all weights)
Gosd and choice mmon and medium cull (75 lbs. up)
Feeder & Stocker Cattle & Calves Steers
16. 20018. 50
Choice— 500- 800 pounds 800-1050 pounds Good-— 500- 800 pounds 800-1050 pounds Medium 500-1000 pounds on=— 500- 900 pounds .....cc.o00es Calves (steers) Good and Choice— 500 pounds down editme 500 pounds down v Calves theltern) Good and. Choice— 500 pounds
Medium — 500 pounds down SHEEP AND LAMBS
Ewes (shorn) Good and choice Common and choice .... Lambs Godd and choice gg Medium and gond Common
[email protected]] 7, [email protected]/ 1
[email protected] [email protected]
[email protected] [email protected]
sesecencensse ssvsesssccas
sets
Lambs (Shorm) Good and cheice Medium and good Common
[email protected] 13.50@ 14. 50 11 00@ 13. Yearling Wethers Sood 8 and choice v.0 [email protected] el 2.50
U. S. STATEMENT
WASHINGTON, Jan. 6 (U. P.).—Government expenses and receipts for the current fiscal year through Jan. 4 compared with a year ago:
Expenses... ... War Spend... Receipts
This Year Last Year $35,951,046,176 $11,745,002,986 32,885,699,574 ,426,089,942 «eves 7,841,046,219 4,215,147,018 Net Deficit... 28,106,667,206 7,459,746,168 Cash Balance 9,794,877,412 3,473,456,262 Working Bal... 9,032,323,829 2,715,054,207 Publiz Debt. ..112,615,040,132 64,342,033,142 Gold Reserve. 22,726,278,791 22,736,657,191
INDIANAPOLIS CLEARING HOUSE Clearings ; $ 4,817,000 Debits 15,364,000
10 CENTS HERE
[email protected]] Dealers.
as a war photographer pu: it
SANADA 0%.
3 Ry wws
i. these days, but the s
7V4 02.
GREAT ~ BRITAIN 8 oz.
2 a pie “may be butter
ITALY ' BELGIUM FRAN 3% ez. 3Va0z. 1402
Suir § fas marfuie and |
jtuation 4sn’t nearly as-bad as in viher conntries
und fats since 1945, b rationing doesn't always means butter is there 0
, Yugoslavia, Norway iF, past months izhling forces and lend“there is no butter
Guadalcanal.”
Poland, butter is but a memory. U. S. shortage WEB oder frecsing part of cold storage stocks, : Don’t feel too bad if you're low on butter
“Here Shows a Di Compared to 41.
Construction priorities ma
n stantial inroads on wartime ing activities here last year, : 1 3
nual report issued today by ¢
shows. The report showed that permits were issued in 1942-.. pared with 17957 in 1041 nated by Mr. Popp as “one biggest puilding boom years | apolis ever had.” ; Dwelling house cons: dropped sharply with. 10 homes, valued at $3,949,780 for the past year. In 19
of $6,915,185. 1479 Families House!
New residential construct i year provided for 1479 fam!
in business construction, built in 1942, compared to 17 in 1941. Erection of industrial plan: ever, showed an increase previous year, a result of «
49 plants constructed, agains; period. LOCAL ISSUE 5
Nominal quotations furnished
unit of National Association of Sec
Bobbs-: 13.00 bbs-Merrill 9% ‘pfd..
Circle Theater com. .e Comwlth Loan 3% pid’ Hook Drug Co Home T&T Ft Wayne % pa Hq Asso Tel 2% > d & Mich 7
*N Ind Pub Serv 7% pfd P R Mallory a Progress Laun a we Pub Serv of ha. 5% Te % pid Pub Serv of Ind com So Ind G&E 4.8 ped. Stokely Bros pic . United Tel Co 5%..... Yaion, Title . Van Camp Van Camp Milk c
Algers Wins'w W RR 4%%.. American Loan 5s 2 . American Cent Newspaper vas ‘42.51. Ch of Com plas Co 4%s 6 oi. Citizens Ind 2 41s 61 ..
CURB NAMES MOFF !
NEW YORK, Jan. 6 (I The New York Curb Excl day announced the nomin: Fred C. Moffatt for re-elc chairman of the board of :
for a one-year term.
EE mw,
PRIORTHES HIT 1942 BUILDING
in Construction Permits Is ued
nl
R. Popp, city building coram:; 101
residences were built at a tot |
Largest comparative declii«
ing war manufacturing. Th: w
industrial sites shown for he 1
'r
2) — ge to= ion of 101 as 21nors
I 9 Bank's Deposits ° ® Exceed 4 Billion NEW YORK, Jan. 6 (U. P.) — Chase National bank became the first $4,000,000,000 commercial banking institution in history dur.ing 1942 and other leading American banks also enjoyed huge deposit increases, year-end condition statements issued today disclosed. National City bank of New ‘York, second largest in the world, had year-end deposits just under the $4,000,000,000 level at the yearend. Sharp increases in the deposits of both Chase and National City apparently reflected use of the war loan deposit method to pay for subscriptions to new issues of government securities, especially those sold during the $9,000,000,000 victory fund campaign of December.
N. Y. Stocks
Net High Last Change Allegh: Corp.... 4 a 142%, 262 ...e TM3% «... 175% 6% 10% 130'2 45% 33s 24%, 3, 453% 193% 3a
Bo arnt Briggs Mfg ... 207 Chrysler 2
Hoan Motor . Indpls P & L.. Int Harvester. Int Nickel .... Int T&T... Johns-Man . Kennecott
++ 1H H+ b+)
htt
tittle
Oil Std Oil N J ... 47 Stew-War Stokely Br ... Stone & Web . Studebaker i t & Sy So NED A 28% United Alreraft go]
Un Gas Im pf 103 Us Suse] of. ‘112% UST 23%
: 154 82
Zenith Rad
Complete New York stock quotations are carried daily in the final edition of The Times.
Glidden Co. ana consolidated sub-
sidiaries year ended Oct. 31 net profit $1,853,752 or $1.70 a common sare vs. $3,010,390 or $3.08 preceding
year.
5
Hoffman of Studebaker Advises Business to Study Post-War.
NEW YORK, Jan. 6 (U. P= American business men have come £ pleted the fundamental organizas tion of a committee for eco development to solve the problen that industry faces after the wal and provide 55,000,000 jobs, it was revealed today. Paul G. Hoffman, president of the Studebaker Corp. and chairman the committee, said the nation must produce and sell $135,000,000,000 to $150,000,000,000 worth of goods year after the war to make jobs. This would be 35 to 50 cent more: than in 1940, when I national income was around $100,= 000,000,000. “Only if a substantial majorly of American business men begin
"'s3| make their post-war plans now, | provided an environment fav
to business enterprise prevails,
."| these, objectives be reached
new jobs created in sufficient nus
“The war has had and will
| tinue to get triple-A priorities
the job of winning the peace ni not be neglected, and, for busing that means planning to create job for returning soldiers, sailors ant:
o| War workers.”
Secretary of Commerce
is | Jones called a group of busine: s| men together several months
and suggested that such a comn tee be organized. However, the committee is Col
ie pletely independent, separately ii + | corporated and financed by S
nessmen. It has the active sup of every governmental agency
2 | cerned with post-war economy, iz | Carroll L. Wilson has taken a ‘s| of abSence as director of the b 1,| of foreign and domestic comm
of the department of commerce serve as its executive secretary.
| RUMOR BLAMED FOF
“SELLING OF W
CHICAGO, Jan. 6 (U. P.) —G futures eased on the Board of today with corn later estab a slight fractional gain. Early
-,. | ports_that the CCC would. call I son old wheat caused heavy lig : tion. The credit corporation de the reports.
At the end of the first hour whe was off % to 1% cent a bushel; ce? unchanged to up %, oats off %, 1 off 2, and soybeans inactive,
OTHER LIVESTOC
FT. WAYNE, Jan. 8 (U. P.).— cents lower; 160-200 lbs., $14.55; 240 lbs., $14.45; 240-300 1lbs., $14. 35; 400 1lbs., $14. 25; 150-160 Ibs. $14. 10; 150 1bs., $13. So 130-140 1lbs., $13.60; 130 ‘1bs., $13. Roughs, gia. 50; stags, $11.75; male $9.500 down: caives, $16; lambs, ewes, $7 down. ;
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MILLIONS SATISFIED
The principals of t firm have milHons "of satisfled 4 cinoma all over
Help Ads Accented 8 A. M.
Your HELP WANTED Sign is multiplied many times —WHEN YOU ADVERTISE
FOR HELP IN TIMES EMPLOYMENT WANT ADS.
As capable help becomes more difficult to 5 your safest bet is to contact ‘every. worker you can possibly reach.
Just the person you are looking for will likely read the Help Wanted columns in 1 tomorrow’ 8
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to 8 P.M. Telephone RI. 5551