Indianapolis Times, Indianapolis, Marion County, 12 January 1943 — Page 15

ings on corn prices, heretofore| - uncontrolled at all levels of} £ distribution. Those - ceiling prices are expected to be about the same as’ those set today. It was the second time that OPA had undertaken to establish direct ‘ price ceilings on a farm commodity. Previously it had set ceilings for certain types of tobacco. The OPA had exercised an indirect - control over wheat prices by establishing flour ceilings but has not attempted to fix prices on wheat itself. The move was ordered by Stabilization Director James® F, Byraes _ with the approval of. Secretary of ‘Agriculture Claude R. Wickard to halt recent sharp advances in corn prices. The OPA made its order effective tomorrow. Prices of corn’ futures contracts and prices for cash corn in recognized cash markets ‘were frozen at the highest level prevailing yesterday. Corn prices at the smail local markets were frozen at the highest level of prices prevailing Jan. 8-12.

Highest price for corn on the ‘Indianapolis Board of Trade yes- , terday was 95}3 cents for No. 2 “yellow corn, f. o. b. country ‘points. William Howard, Board of Trade secretary, explained that freight charges usually add about 10 cents more to that price,

The agriculture department said the action was necessary to maintain price relationships at which it would ‘be profitable for farmers to feed corn to livestock, unprecedented production of which is essential - to the war effort.

Officials responsible for the action | Good—

said present corn prices were in excess .of 100 per cent of parity— . counting AAA payments to farm“yers., _ Farm bloc congréssmen were expected to voice unreserved 6pposi“tion to’ this method" of conrputing prices in relation to parity. They have insisted repeatedly ‘that the stabilization act passed last fall did

not provide for figuring in AAA or|. : 1 any other government payments in

the computation of parity. They| plan to offer a bill to require OPA to follow that policy.

The OPA order in effect sets corn | G00

prices at 15 to 20 cents a bushel below the parity of approximately $1 a bushel. Government benefit payments, however, will make up ! the differences, it was said. Agriculture officials pointed out that farm prices of corn have been increasing in recent weeks toward the point where it would be more profitable for farmers to sell their corn than to feed it to hogs, cattle, and chickens.

: Cite Advance.

An OPA spokesman said today’s action was necessary to keep up meat, dairy and egg production. Average corn prices on the farm advanced from 76 to 80 cents a "bushel between Nov. 15 to Dec. 15, latest agriculture department reports showed. The department said | af 2,277,332,000 bushels of corn, 79 per . cent of the 1942 crop, still were on farms on Jan. 1. Wickard last week asked farmers to- plant at least 100,000,000 acres of - corn this year, an increase of 11,000,000 over last year and 5,000,000 * over the 1943 goals announced 8 month ago. Prices of corn futures contracts : and prices for cash corn in the recognized cash markets were frozen _ at the highest level prevailing dur-{©° ing the period Jan. 8 to Jan. 12. . Exempt from price control are{M #.seed corn, popcorn, grain sorghums, “sweet, corn, broom corn and local farmer-to-farmer sales of corn.’ The new ceiling prices will apply| pn, to all corn futures transactions on the grain exchanges in Chicago,|ge ‘ Kansas. City, and Minneapolis. Maximums will also apply to cash

corn dealings on ‘these same mar-|Circle Theater. co Rg

- kets in addition to all other recog-

2 com .......... 12% Home T&T Ft Wayne 7% pfd. 50! - nized cash markets including but es Hd s df oP 3

“not confined to “such far-flung . points” as Omaha; Sioux City, Towa, St. Louis," Memphis, Cairo, IIL,

_ Peoria, Ill, Cincinnati, Buffalo, San| Francisco, Indianapolis, * Portland;}indpls Water

{Ore., Baltimare, Phialdelphia - and | “Boston. °

“OPA said that sales in all small oN Td Pub Serv local markets. will. also_be covered pp 2a. + regulations. | Progress Lawn dry co! Pub Serv of Ind. 5% pd besue sn Pub Serv of In LL com

by the forthcoming. “DAILY PRICE INDEX |

YORK, Jan. 12 (U. P).— So . Dun & Bradstreet’s daily weighted in Sn price index of 30 basic commodities,| van Camp Milk co compiled for United Press (1930-32]

average equals 100):

y Thetsussssvaesnsann 168.26 Ameri

Yesterda; ‘Week Ago Cvesesessisessunene 167.23 Month Ago @ssseanssssnsces 164.40

L Year Ago .i...s.ocivasssas 158.7507

1942-43 High (Jan. 9, 1943).. 168.33 3e-43 Low (Jan. 2, 1942) .. 151.54)

FREELES $1 OR

Ceiling Put at Highest Levels at Which Sales Were Made Yesterday; Action Taken to Encourage Meat Production; Permanent Order Forthcoming.

WASHINGTON, Jan. 12 (U. P.).—The office of price administration today placed corn—the nation’s largest crop—aon the growing list of price-controlled commodities in a move to encourage meat production. In an action expected to touch off violent criticism in congress among farm bloc senafors and representatives, the OPA froze prices on corn exchanges generally at the highest levels at which sales were made yesterday, Within the next 60 days—|the duration of the order—i| the OPA will fix specific ceil-

PORKER PRICES RISE 10 GENTS

Top- Advances to $15 as 7000 Hogs Arrive; Vealers Steady.

XY Nishets Vegtie

t 4

Wagner, Marri. Clippinger Named to Governing Board|

Three new directors were elected by shareholders of Fletcher Trust Co. yesterday and all present members of the board were re-elected, it was announced foday by Hugh McK. Landon, vice chairman of the

The three new directors are I. Richards Wagner, president of Electric Steel Castings Co.; Donald S. Morris and H. F. Clippinger, vice presidents of the trust company.

Hog prices advanced 10 cents at the Indianapolis stockyards today boosting the top to $15, the agricultural marketing administration reported. Weights under 160 pounds were unchanged from yesterday.

$16.50 top. Receipts included 7000 1850 cattle, 500 calves and

Good to i

160- 220 pounds

Good to choice— junds

po 330- 3 pounds ...

400- 450 POUNAS «...enves..

prices were: 250- 500 pounds

Medium to Good— 920

CATTLE (1950) Slaughter Cattle & Calves

concerns and

cevrereses 1250014235] ress “ese 11,[email protected]]

WHEAT BREAKS ON OPA ACTION

Futures Off as 5 Cents at Chicago; Corn Also Falls,

CHICAGO, Jan. 12 (U, Wheat futures broke % to 5 cents lower on the Chicago Board of Trade at opening today and corn was 3 to 12 cents lower following the office of price administration freeze order on corn prices. 5 Corn prices at the opening of the market were: cents; July, 99 to 98% cents. Wheat May, $1.39% to $1.37; July, $1.40@$1.36%, and September, $1.413% @% cents;

Other grains also were off. A meeting of Board of Trade members was called. Dollar corn returned to the Chicago Board of Trade for the first time since 1937 last. Satur9! day. Heavy demand from industrial livestock farmers pushed September futures in the grain up to 100% to 100% cents a

N. Y. Stocks

dianapolis clubs.

~ 800. pounds ...... Eaves ve 14.25 800-1000 pounds cane

28 Smestaasiane 13:25

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

clude Henry C. Atkins, president of E. C. Atkins & Co.; Austin V..Clifford, in the coast artillery; Joseph J.'Daniels of Baker, Daniels, “Wallace & Seagle; Carl F. _Eveleigh, secretary of Eli Lilly & Co.: Frank E. Gates; Frank E. Gates & Son: Mr. Landon; Norman Metzger, Vice

500-7900 pounds .....i.e0iin + [email protected] " Cows (all weights)’

Bu Cutter and commen ...

ess essareseny seve

Sausa te (all Weights) tesssase J230a12. 5 dium i 00@12

CALVES (500)

Vealers (all weights)

Good and choice ommon fang Medium .

B Borg-Warner . 27% BdgpL Brass .. 9%

. Feeder i. Stocker Magid & Calves Cor Edison 207 18% cenenbectene [email protected]

a essscsssss [email protected] ecsssssssess [email protected]

Jeeibenianuny [email protected]

500- 800 pounds 500-1000 . pounds

) rod : Godd ‘and Choice— nt Harvester . 57% 20 pounds down .

150 pounds down

Good Sug Ja pounds down . 500 pounds down ........... [email protected] | 3 SHEEP 4% LAMBS (1500)

reese 5500 7.00 n

Good Medium and good FES RR RR 12.00@13. gH

La Good and choice * Medium and good mmon

Common

good and Po dium”

SATAY ANB as sian

LoCo ISSUES

tations furnished by local 8 al Association OS paupitiey

7 ponte Fin, Sop pid...... sees 20

Swift & Co... 33

k-D Ax i. United Aircraft 27 u's sie Jmp 1-104 104%

High m ..143% «Faia an deeb 73% ...17815 S 6%

Douglas Aire . 58%

Gen Electric .. 31%

* ms

Nat Cash Reg.. 19% Y Central... 103, hio Oil

Procter & G... 40%

Sears Roebuck. 597%

aer Bros pig he West lL BE Bke. 18%

Young Sheet or 30%

- LOCAL PRODUCE

Heavy breed hens, 3% lbs. and over, 23c; Ya lbs. and de Kp

ers, 1% Ibs. and, nd over Solored, White - >

1bs. and over: Barred ana White nd over: i ee;

Stags: Jegnons, Xe: Jeavy breed, 21c. under

-bs. and

aE : cents less. - Eggs—Curreri receipts 54 Ibs. and up,

Graded Eggs—Grade 3c; grade A,

1 re —- otic: “Vuttarier, No. 46c: N or produce or

gos Ginko by Wale Gor

Net Low Last Change ‘lager of Indianapolis Water Co.;

t+:

ee . oo. . oo. .

? amount of $32,495,282.

$1,034,834 in trust funds uninvested, $2,716,955 in customers’ securities, +1$23,554,730 in corporate trusts and .| $5,738,730 in real estate trusts,

4: +1:

$100. top, $14.

s| Steers and year Steady, ‘modera fed active: top steers, 50, on 1350-1b. tay

erages; best year! . ; lings, $15.40: en Ss as .25; heifer year.| today

LEE TR +L:

ters at 40 $8 $9.

+1 318016 ) , mostly. *| Sheep—

Li L+H]

00-400 150-. Tbs. $14.50; 140-150 1bs., ai 1 0-1 0] 1b, $13 435, 30-140 1bs., $14;

ewes, $7.50 a

| ASO, through ipts 20x the pared with a year ago 88.3, com.

Expenses -$37 101,896 $12,2 IE eis a "Atal eceipts . .... 20095. » "994.670 Bhs i distin

A, = Joc: grade) Publi debt 113000388404 64810483 415

Donald S. Morris * = =

Mr, Wagner joined the Electric Steel Co. of Indiana, later the Electric Steel Castings Co., in May, 1920, working his way up from metallurgical chemist to the presidency, to which he was elected in October last year.

Worked for U. S.

plant in Wilmington, Del. In 1918

diana. Manufacturers’ association

olis clubs.

_ .| A. Prange, manager of the 38th st. Mr. Morris, vice president: and branch, A. J. Krueger Jr., manager been associated with tHe com of the Massachusetts ave, branch for many years. He She a pany and Paul F, Cross, manager of the of several bar associations, was g|Brightwood branch, were elected member of the Indianapolis safety assistant cashiers. Frank Brady was board and has served many years| elected auditor! Directors Re-Elected Officers: re-elected were J. P. Long With Company Frenzel Jr., president; Otto N.FrenMr. Clippinger, vice president of|zel, Carl H. Bals and William C.} n vice presidents; G. F.| the company since it was organized,| Lichtsinn and M. A. Dewees, asHe is a trustee of DePauw univer- sistant eas) gers Thomas A. Ressler a nt ¢ r and manager o sity snd a member of several In-( i ond dopartinent. end H.C. Smith, comptroller. Directors re-elected are Fred C. Krauss, F. T. Holliday, ‘A. Kiefer} Mayer, William B. Stokely Jr., Otto William C. Griffith, Robert B. Failey, Edward J. Bennett, John P. Frenzel Jr., Harry J. Herff and Lyman S. Ayres, who is serving in the navy.

Fountain Square Officers Re-Elected

. ©, 9, 4| O'Neal & Smith; Almus G. Ruddell, ro ener nesting of Me

3% | president of Central Rubber & Sup- . ply Co.; William B. Schiltges, first elected. vice president; Robert F. Scott Jr., 34 | vice president; Stowell C. Wasson,|y Bugdenz, vice president; R. E. =| manager of the National Malleable Sweeney Jr, who is serving with ,| & Steel Castings Co.; Harold B. s| West, president-treasurer of thel; West Baking Co., and Evans Wool- | len Jr., president.

counsel of the trust company, has

as an, officer of the Indianapolis Boys’ club.

the trust company, has served with

Directors who were re-elected tne

président. Howard S. Morse, general: man-

Perry E. O'Neal of Thompson,

The trust department reported

Cattle—Receipts, S000; calves, 1000;

: most gra . to choice 800-1b. vealers, $13.85: | Ni

good cows sfeady to strong; active scarce: cut.|53c: » canners, $7.25 tojand No. '3 white corn, 98c

ABEIE AN' SLATS

25; bulls acti and six «a0, ve and strong: h - offerings to $14.40; vealer s frm at

oughs, 8. tags, eri, to Spy

u. THE:

WASHINGTON, Jan. 12 12 (U.: P).—Gov-| Year Last Year ,610 3,346,799, Diane “Sadr io 654 3.388.39%,096

Id reserve 23,711,930,889 22,742,564,278 INDIANAPOLIS CLEA CLEARING HOUSE ||!

TONIGH:

facts for the to nel Sleuthing will take on a la and old lace tinge when Agath Christie's mystery yarn, “The B | Geranium,” is dramatized on WIBC —{ “Murder Clinic’ program at 8:3 . { o'clock. Vivia Ogden, 70 years o = [has been named to portray Marple, Miss Chiristie’s novel who also is 70 years old.

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- “AROUND THE DIAL: ‘Ttems a current ‘ interest‘ will: be -auctionet to be paid for in war bonds, in & program conducted by Dave a and titled “Victory Auction,” WEBM at 9 oclock tonight. , . 4 : Captured enemy ES ¥ flags, perhaps a two-man subma- 3 rine used by the i Japs and the pen 3 Tused - to sign’ an important stat

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0SCAR FRENZEL 1S PROMOTED

Advanced to Cashier of Merchants National

Bank Here.

Oscar F. Frenzel was promoted to cashier of Merchants National bank at the annual directors meeting today. .All directors were re-elected. Mr, Frenzel, who is 44, is a grad-{1 uate of Shortridge high school and Indiana university’s school of commerce and finance. He is a native of Reading, Pa. In|second lieutenant in the infantry in his youth he was a chemist for sev-|the world war. He was formerly|?! eral Pennsylvania steel companies.|cashier of the State Bank of MasIn 1916 he was in charge of the|sachusetts ave., now the MassachuMidvale Steel & Ordnance Corp.|setts ave. branch of Merchants Nachemistry laboratory at its branch|tional bank. For 12 years Mr. Frenzel was in — Mr. Wagher was metallurgical|the investment business here, joinchemist with the U. S. ordnance de-|ing Merchants National bank in partment’s inspection division and|1938 as a traveling representative. remained in that work until com- Two years ago he was elected asing here. sistant cashier. He is a member of several tech-'p prenzel Sr., was one of the orignical organizations, a director of inal . the National Founders’ association with the bank. and the American Foundrymen’s as- ’

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typical of items to go under the auctioneer’s ham mer . .. The entire listening au-

11:30 | 11:45 Suany Dunham

Miss Kimberly

-|a’' chance to bid. . .. Red Ruffing, Yankee star pitcher now an army private, will call Chief Petty Ofe ficer Bob Feller, .Cleveland: Indian at Norfolk, Va, on

“Ginny : o'clock tonight on WIRE, . . . Kim Kimberly will be featured: for Chico Marx's orchestra on tos night's “Spotlight Bands,” heard a§ 8:30 o'clock, WISH.

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Jack Baker Little Jack Little

TODAY'S STORY: An actor wag hired for a difficult part on Max s “Crime Doctor” on CBS, Among the things he was supposed to do was to moan deeply as though he had been mortally wo During’ the rehearsal ne satisfled with the moan sid:suge gested that the actor try ‘it ef home and perhaps the practice would make 1t okay for the broatls,

13H mn Kate Smith

: 1:1 Console Pictyies He served as a i

U. 8. Marine Band Mys Chef

Heatts in ‘Harmony Editor's

8 Ted Malone a HE o Ee Mi

slags od Lo

The actor went, home and ‘started -to. moan. His: noises were 50: reas lstic that a neighbor thought some one was dying and summoned.the "| superintendent to investigate. - : Round : factor figured if he: would fool his neighbors he couid do the same foe the radio audience. He was righty ; Fan mail after the program come Plimented him on an. xalioht pee

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His father, Oscar

brothers connected 00 Madeléine, Carroll

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sociation, vice president of the In- oa was Seu oe iam Morris Pearson, chief clerk, and a member of several Indianap-( co. "ciucted assistant cashier: Ralph

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11:15—Gardiier Ben 11:30--Midnite Melodies ; 11:45-Moon River 5Y PROGRAMS : 1: :30~Guiding ust :48=Cly Hymns

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Plain Bill Front Page Farrell

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9:45—Lone Journey

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MYSTERIES TONIGHT — Stray] i strands from the silken scarf -with which Hattie Scott was strangled will entangle her playboy nephew and dangle him before the radio court when “Famous. Jury Trials” is heard at 8 o’clock on WISH. The evidence shows that a few 4] hours before the murder of the | wealthy = widow, “Jerry «| taunted his gunt and accused her 1 of being dominated by The Prophet, eccentric leader of a religious cult. (| Hattie threatens to make a new ¢| will and disinherit Jerry. of “| after the murder, police apprehend 7| the ‘nephew, apparently trying to

FUNNY BUSINESS

7:30~Duffy’s Tavern, WISH. -8:00—Burns and ‘Allen, WFB)(. 8:30~Murder Clinic, WIBC. 8:30-—Fibber and Molly, WIRE. 9:00—~Bob Hope, WIRE,

By VIRGINIA HATFIELD COMEDY TONIGHT: Culture music are coming to 1 Deems Taylor, music critic, poser and radio commentator, call on Ed (Archie) Gardner du ig

N. Frenzel,

GRAIN DEALE

lee AGENCY

officers and directors were re-

o'clock tonight, WFBM. Elabo

Val F. Schneider is president; H.

the navy, vice president and cashCarl Lavrenz and Emerson Martin, assistant cashiers. Directors are Henry LangsenReports on Status kamp, Robert E. Sweeney, Otto N.}§ Mr. Landon told stockholders the |Frenzel, Harold J. Koch, Frank J. company’s resources, as of Dec. 31, Schuster, A. J. Vondersaar, Edward 1942, were $62,798,864 with cash on|Wischmeyer and Val F. Schneider. hand and in the Federal Reserve s| and other banks totaling $19,471,039

‘y,/and U. 8. securities held in the SEEKS FUNDS IN U. S.

y PHILADELPHIA, Jan. 12 (U. PJ). 4|that at the end of 1942 $23,907,121] —Registration of $675,000 of produc- »| Was held in invested trust funds, {tion notes and 1,350,000 of common stock for promotion of Metales de la Victoria S. A, of Agua Prieta, Sonora, Mexico, was in the hands of the secruities and exchange. coms sl All directors of Fletcher Joint |mission today. Stock Land bank, a wholly owned subsidiary of Fletcher Trust Co, ‘3, | Were re-elected.

ier;

Archie to wii © & “very fine ay ce on music. and appreciatic i “Undou btec Deems Taylor Archie “when: Deems sees’ it he will va: to read it to our audience.” | Gracie Allen will invest in a of encyclopaedia and cause a fii argument on the “Burns and Al show, carried by WFBM at 8 oc . Bob Hope's | happy crew will visit the mar. at Camp Pendleton, San Diego, ( for the 9 o'clock WIRE ‘broacic: . Junior, the bain of his mar: existence, will disappear during “Red Skelton” ‘o'clock on the same station.

MEXICAN MINING CO.

The newly-organized lead silver mining company reported securities will be for public sale Jan. 25, in —_———— units of $10 of notes and 20 shares OTHER LIVESTOCK |of stock for $10 U. 8. currency. ogs—Receipts, 20,000; active: 10 to 15| Proceeds will prepare the mines for ‘5 sens 0; uso i Sites: (50:33 Ibs. | operation, covering road construchigher; good 350-550-1n. sows, $13.90 to|tion, labor and supplies.

WAGON WHEAT Up to the close of the Chicago market Indianapolis flour mills and gra steers, $13.7 @16; | elevators paid $1.43 per bushel for No. des $11.25@13; iy wheat {other

A story that has taken Arch Ot ler almost five years to compl: will be presented on “Lights ig the broadcast at 7 o’clocl: ! The tale is entitled “

It concerns the strange dis pearance of Sherry Palmer, a Hl! wood star, and is told by @air >I White, her press agent.

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