Indianapolis Times, Indianapolis, Marion County, 5 February 1943 — Page 16
inianapois © Can Take ‘Warming oy
From
THOUGH = AGE Sons IS NOT AFFECTED]
Mutts Priory Foley
‘the moment by Paul McNutt’s priority plan in: hiring bor in: 32 cities, it can'well take warning frem it. To my mind, the NeNutt order is not a ‘crackdown on all
33 ‘industrial’ areas but a
¢ areas where management and labor haven't been able get together voluntarily and stabilize labor turnover.
other words, he is to bickering few, or we will do it for you.” The Areas | are those in which critical aber shortages exist already. Indianapolis is classified as an area where a labor shortage may develop in several fore, before things
get worse here; it]
seems a good idea to give the war plants here a priority on labor, halt the excessive Sumover among workers, crack down ‘on ‘labor hoarding and give ‘employTent to racial and physicallyhandicapped groups that are under ‘discrimination 5 many factories No one has any definite. Agures it ‘seems that this area shouldn't expect that the “work in a war iny or fight” policy will bring ‘many workers into the labor supply. here. This is not a “luxury” town. ‘We have no big furriers or per-
ns, like New York City has. Probably most of persons in the “non-deferable” list work in stores. But then a good many them are women, older. persons r actually essential. ' Therefore, he. number of able-bodied men to ‘gleaned from non-deferable luxty employment is not expected. to : large 3 as it may be elsewhere.
let 8 = = THE EMPLOYMENT service ‘had small increase in telephone calls "week from persons wanting to know how they could go about ‘to
, training for a war job. But it Chloe
't great, nothing like’ the thouthat rushed to get war jobs ‘New York.
Good Obviously, then, some of the frills
coming off civilian life.’ Already takes longer to get a suit cleaned. io services as that, cigar; liquor, flower and candy stores undoubtedly will be harder hit. Another angle is that many’ “off our small towns in this state, thousands of th#m which don’t have war industries, may become villages of
old men and women. Either their Good
men will be. drafted or they will to move to cities where: there ‘war work. : 2 » 2 . ‘A “BIRD-PROOF” and wigeproof” windshield for airplanes is being tested. Ice forming on wind-
aviators, But so are ducks, wild ~ geese, eagles, seagulls, etc. Es-. pecially at night, they crash into . cockpits and some have even been hurled the length of the eabin. The new windshield is a combination of plastic and tempered glass. The plastic, tough but with “give” also, helps stop the : ir space between to melt ice or
mbassador to Britain, i soon bee a Washington bureaucrat. . . W. I. Longsworth, president of
Varnish Co. of Indianapolis, | Sood and Choice— been named a director of the | Medium
Association of Manufac- . . Big distillers are buyup stocks of small, independent ms and concentrating on r most expensive brands,
3 ‘horseshoes now.
LOCAL ISSUES
adonal Ri Association A es Mod
.. ‘1815.20 Ba most 160-180
= Some bakwhen tire shortage hit ara| Seed they are having a hard time
poke. in the ribs to a few of
PORKER PRICES ARE UNCHANGED
Hog prices opened steady at the Indianapolis stockyards today, the agricultural marketing administration reported. ‘The top stayed at $15. 5 for good to choice 200 to 225-pounders. Receipts included 5300 hogs, 450 cattle, 300 calves and 850 sheep.
HOGS (5300) Good fo choice—=
300- 330 pounds 15. 15. 30. 2 360 Sounds sessssenssasss 15.50@ 15.56 Medi : 180- "3% ‘pounds [email protected] - Packing Sows - Good to choide~ 270-- 300 pounds 300- 330 pounds ... 300- 330 pounds ... 400 di
38813. 00
15.00 . 14.40@14. 85
[email protected] [email protected]
[email protected] [email protected] Slaughiter’ Cattle & Calves
153501890 [email protected] . [email protected]
1100-1300 pounds [email protected]
1300-1500 pounds [email protected] 14.50015. [email protected] [email protected]
13.25@14,25 ++ [email protected]
Medium— 700-1100 pounds 1100-1300 pounds
Common -— 700-1100 pounds 7 Heifers Cholce— 600- 800 pounds .......... vee [email protected] 800-1000 pounds ...coecesase [email protected]
[email protected] « [email protected]
800 pounds 800-1100 pounds .... Medi im— > 500- 900 pounds .. esses [email protected] Common ' 500- 900 pounds Cows (all weights) [email protected] 19.50 11.50
Bulls (all .weights) = , : ( eariings Excluded) aod sseesssns oar Rs shes. « 13. [email protected] | pI’ Good (all we weights) ...esees.. 13.00013.75 Mediums
[email protected] [email protected]
sseessenes sessssncs
“Cutter and common : CALVES. (300) Vealers (all weights)
Good and choice .......... ... [email protected] Common and medium ... 12.00@ 16:50 Cull (75 1bs. up)
Feeder & Stocker Cattle & Calves
rere maT
ds essssasccees 11,80 13.50 sessssevsess 11.2% 12.2%
cul pounds e090 0s00000 10.35011.50 9.50010.2
Calves (steers)
13.50018.00 [email protected]
pounds down .....c.s... [email protected] SHEEP AND LAMBS (850)
o 1 8.00] 00Q 7.00
50 operative:
age 00]
CHICAGO LIV LIVESTOCK og Recep 13,000; active, steady, Ea and Ge 100-330 1bs., sbulk 00-505-10 ights, :with' few choice kinds to pts, 1500; calves, receis 's and heifers firm; no strict-
steers here; 16.25; $1015.50; +126 head i perio Bi $14.40; fel eifers, $15.85;
3 Rililng classes cutter cows, down; cal $1800 SH owe soum ira, ‘sausage b ats bt 113:
18. 14.90;
sesssescece [email protected] n
to York . Kh Rel! 0 ving Sptis. Lenox EE Gary; ral : of “trade me mark House” fou
od: a
Brotherhoods?
| WASHINGTON, Feb. 5 @. PY
President Roosevelt, | whose =~ war labor board is beset on all sides with labor demands- for upward
revision of its wage ceiling, must] {decide soon whether to dump still
another serious labor crisis into the
{board’s lap. Twenty railroad brotherhoods, |
representing 1,250,000 workers, are demanding wage er than the war board's “little steel” formula would allow. But it
is not yet certain whether rail em-|
ployees are subject to the rules of that formula. President Roosevelt «|is expected to issue soon an executive order which will decide whether the WLB has jurisdiction in a railroad labor dispute. If the president decides that it does, then the board will be faced with the first united labor front on a major issue in years. In addition to the brotherhoods, the Amer-
ican Federation of Labor, the Con-
gress of Industrial Organizations and John L. Lewis" United Mine Workerse are clamoring for the board to break its ceiling and for government agencies to stem the
_ {rising cost of living.
The C. I. O's “executive board meets here foday to demand an
: {upward revision of the formula,
which put a ceiling on wage increases. The ceiling is 15 per cent
of wage levels prevailing on Jan. 1.|
1941. If was designed to meet & 15 per cent cost of living rise between Jan. 1, 1941, and May 1, 1942. Labor leaders charge that living costs have increased about 4 per cent since May. Panel, WLB Conflict :
-How. the administration, ‘already confronted with ad. M. W. demand for $2-a-day increases for. 450,000 bituminous miners in violation of the “little steel” formula and a possible demand for $3-a-day increases for 90,000 hard coal miners, will meet the rail labor. problem is a question which now appears up to President Roosevelt to answer. The president must decide who should have jurisdiction of the case before a demand by 15 non-operat-ing brotherhoods for a 20 cents an
50| hour increase - totaling $450,000,000
for its 900,000 affiliated workers can ben finally determined. No such immediate challenge is evidenced by the “big five” operating brotherhoods, whose insistence that a 30 per cent wage increase be granted
5 to their 350,000 member workers has
not reached the imperative stage. The national (railway) mediation board announced its inability to settle the case involving the nonoperating unions, and the next step, under normal procedure, would be for Chairman William M. Leiserson of the nine-man national: railway. labor panel to appoint three panel members as an emergency fact-find-
ing committee to hear the case and An ~| then make recommendations to the
president. Buf both the panel and the WLB| claim jurisdiction, both citing different executive orders. The presi-
dent is understood to have asked B
Stabilization Director James PF. Byrnes to unravel the snarl. But Leiserson said recently he ‘did not
believe Byrnes has the power to do [S308 Oi
this. Leiserson said he would await
| White House clarification before | DOTS, 2 selecting the emergency committee. | East
U. S. STATEMENT
= WASHINGTON, Feb. 83 (U. P.).—Government. expenses current fiscal year =e Feb. pared with? a yeas
05,363 0,663,814 ,744 E 862,071,859 9.600.432.3584 2,953,870,71 2194 529.668 65,862,286,046
732,105 23,737, 854,581 Nat Cash
: INDIANAPOLIS CLEARING HOUSE
Incarporations—
ety py am em: inoreasing uthorized capital Bok nl £885,000.
Lily the authorized capital stock gapi
oviding all consist of 100,000 shares com-
mon . stock without par; also am Ad p ; amending 8
Articles: 6 James. a ange
Ww, ration; Bl
[fea : ent on inde ’ - Assjsnmen < mark, “Tender New York on Packing Co., Inc. a Delaware corpora-
“Rydraulic-Press Brick Co., St. 8 Mo.; registration of trade Co. St. Lows
Green” and rte class 13; con | Wi 1 Products Corp., B|; Yo
struction, mater
dianapolis; at ‘authorising 4 | issuance of 2000 ‘shares preferred : having a par value of £880 each
n
The’ Grest American Tea Co. New
“Ranch .and de-}|: sign. and the slogan ‘Just Good Eatin,”
class 45: Bignt ‘ower Co. Tadic: |
teh Manufacturing ‘co., , Angola: Pen, Be Rs, am
Have Jurisdiction: ver 1
for nigh.
and receipts for the H 3, com- I
bes Co, Indinnapolis; amend- a
si resident Indiana to J Siiie 8 White LIE Merchants Bank | Te
Co.lus Pa US Steed
The Lincoln Jewelry & Loan Co. me, | | disnapolis; dissolution. 2
SN diary
ET
gry
George 8. Olive.
Paul Hoffman, president. of Studebaker Corp. of South Bend, and George S. Olive of Indianapolis, president of the American Institute of Accountants, were among a group of 11 outstanding civilians named by the war department today to act as an advisory committee on army
procurement.
Other members are John U. Barr, proprietor, Federal Fibre Mills, 2
New Orleans; C. U. Bay, senior member, A
. M. Kidder & Co., New
York; Dr. Melvin T. Copeland, director of research, School of Business Administration, Harvard university; Huntington B. Crouse, president,
Crouse-Hinds Corp., Syracuse, N.
Y.; W. B. Foster, vice president,
Pressed & Welded Steel Products Co, Brooklyn, N. Y.: Albert Fuller, president, Fuller Brush Co., Hartford, Conn.;' E. T. Gushee, vice ‘president Detroit Edison Co., Detroit: Emnst Mahler, executive vice president, Kimberly-Clark Corp. Neenah, Wis., and David Zellerbach, presi-
dent, Crown Zellerbach Corp., San
Francisco.
Eaton Attacks ICC After Losing Fight for Erie Bonds
NEW YORK, Feb. 5 (U. P.) —Morgan Stanley & Co. and 32 associated underwriting firms today offered publicly $14,000,000 in 15-year 31% per cent bonds of the Erie railroad: despite threats of legal action because the issue’ was awarded privately. : Suit against directors: of the Erie ‘was threatened yesterday by Carl E. Newton, president of the Chesapeake & Ohio railway which holds 2
GRAIN PRICES HOLD STEADY AT CHICAGO
CHICAGO, Feb. 5 (U. P.).—Grain futures maintained a steady fo firm tone on the Board of Trade today. At the end of the first hour wheat - and corn. were unchanged to up % cent a bushel, oats up % to %, rye unchanged to up %. ° Interest of the trade centered in the proposal Tor adjustment of flour price ceilings which hasbeen turned over to Marvin Jones of the office of economic stabilization. = Grainmen - said that the lack of agreement by the department of agriculture and the office of price administration on fhe need for a rise in flour ceiling ‘ prices . necessitated turning the matter over to the OFS for a decision.
N. Y. Stocks
High
Allegh Co 1% 1 Aliéa chem 181 a
Net «Last Change
Va
tchison RE Balt & ” ohio oe 4
gfe ey EER TTEnss
den Borg Wariier «20% Chrysler un Comwlith & Sos;
F144: +L bb + bre] | ex +
4H] SeRsepeee Eres x
+++: 3
a
SHEE RE al a al P Syne & ee
» 1 £m care 23% 23%
FEEL LH FEL EE HD
, Complete New York | stock quotations are car“ried daily in the final edition of The ‘Times.
LOCAL PRODOCE.
BH prota nens, 3% Ine. ave 2 oy ea
per cent of Erie's common stock. Newton charged that private sale of the bonds cost the road additional interest of $40,600 and required an immediate cash outlay of $1,067,000. Statements protesting Erie’s failure to offer the bonds competitively -also were filed with the interstate commerce commission by Newton and Cyrus S. Eaton of the
Cleveland banking firm of Otis
& Co. ; Accusing the ICC of “institutional
paralysis and internal decay,”
Eaton declared that “because of its timid attitude toward condemning banker domination of the railroads and monopoly of railroad finance, I hope that Senator Harry F, Byrd (D. Va.) will consider the ICC in his investigation of nonessential federal expenditures.” Eaton previously had asked the ICC to enforce competitive bidding for the issue, stating that his firm and the Chicago house of Halsey, Stuart’ '& Co., were prepared to make a “firm and unconditional bid for the issue.”
~~. Renews Old Scrap This’ action by. Otis & Co. to
: force: competitive bidding: for the : Erie ‘bonds renewed a fight between
‘Wall Street and out-of-town bankers over the question of private! sale of railroad securities. The series D bonds, due Feb. 1,
| 1958, were priced at 97%, plus ac-
crued interest; subject to authorization .of the sale by the ICC. Net proceeds of $13,440,000 will be used by the Erie to reimburse its treasury for funds used to purchase $14,000,000 of its collateral trust 4 per cent notes due Jan. 1. 1953, from the Reconstruction Finance Corp. These notes and the collateral pledged to secure them—8$17;500,000 in first consolidated mortgage 4 per cent bonds, series B, due Jan. 1, 1995, will be canceled. A non-cumulative sinking fund of $140,000 annually will be applied to the purchase or redemption of the. new series D bonds, which will be redeemable as a whole or in part by lot at 102%2 up to and including Feb. 1, 1946. Thereafter to Feb. 1, 1949, redemption will be at 102; at 101% to Feb, 1, 1952; at 101 to Feb. 1, 1954; at 100% to Feb. 1, 1956, and thereafter to maturity at 100. Following cancellation of ~ the $17,500,000 series B bonds, the Erie will have outstanding in public hands $94,289,350 of first consoli-'
‘dated ‘mortgage ‘bonds, exclusive of
$636,350 held in the road’s treasury. It was announced that the road| will make application for listing of the series D bonds on the New:
I eas on De Ta. il ; profit of $501,438, appropriated |
$150,000 as a reserve, leaving $351,438 transferred to earned surplus.|._ In the previous year the Indianapolis . garment manufacturer had a loss of $341,955. ; at G. A. Effoymson said no ‘was ‘made for federal income taxes in either 1941 or 1942 because: of the loss carryover and other deductions the company be-~ lieves it can substantiate.
Some Vegelable % Seeds Are Scarce
WASHINGTON, Feb § (U. PJ. ~—The agriculture department announced ‘today that the supply of most * -vegetable seed promises to be sufficient for 1943 victory garden needs, but that onion, beet, and carrot seeds are scarce. Gardeners were: warned, however, ‘against waste of seed through careless sowing, neglect of a plant garden, or attempt to garden on soil too poor to produce vegetables. The department added that it does not have garden seeds of :any kind for: sale or for: free distribution. : :
3 RAILROADS SLOW TRAINS The Chicago’ & ‘North Western, Union . Pacific - and * Southern Pacific railroads announced today that slower schedules will go into effect Feb. 15. The slower: schedules will affect all trains ‘operating between Chicago & : North Western station and the west coast except three streamliners, “City of Los Angeles,” “Gity of San Francisco” and “City of Portland.” v <
- ERIE PAYS OFF LOAN . WASHINGTON, Feb. 5 (U. P.)— The Erie railfoad had paid off a
:$14,000,000 loan to the Reconstruc-
tion Finance Corp. by the purchase of $14,000,000: of -its 4 per cent collateral trust notes from: the RFC at 103%. and accrued interest. The transaction represented a profit of $507,500 for the RFC, Secretary of Commerce Jesse Jones said.
owen IN SECOND SHIP JOB WASHINGTON, Feb. 5 (U. P.).— Paul R. Porter, chairman of. the war: production board’s shipbuild=ing stabilization committee, has been elected chairman of the war labor beard’s shipbuilding commission, the WLB announced today. Porter was chosen by unanimous vote: of the commission. =
PUBLIC SERVICE DIVIDEND -
Public Service Co. of Indiana, Ific. directors declared the regular quarterly dividend of $1.25 on the 5 per cent cumulative preferred stock and 25 cents per share on the common. Payments will be March 1 to stockholders of record Feb. 15.
* M’BAIN HEADS FIELD STORE CHICAGO, Feb.5 (U.P.).-—Hugh-ston McBain, former vice president of Marshall Field & Co., assumed | presidency of the concern -today; succeeding’ Frederick D. Corley as president and director.
‘LAND VALUED AT $103,000 A federal court jury has awarded
the nearly 19 acres of land it owned at Northwestern ave. and 21st st. now occupied by the Fall Creek ordnance plant operated by E. C. Atkins & Co,
BUSINESS AT A GLANCE
By UNITED PRESS Bond Investment Trust of Amerfea 1942 net assets $618,650 vs. $158,000 in 1941. Island Creek Coal Cb. and subsidiaries - 1942 estimated net profit
York Stock Exchange.
¥5. ei $3.11 in 1941.
‘THIS CURIOUS WORLD
By William Forgacn | -
NELSON EXPECTS NO
‘said, that enough will be in pro-
/| be replaced by synthetics, he said,
Fairbanks, Morse & Co. $103,000 torl}
Te |
nent taxes are not deductible be separated from genestate: taxes since they tend to enhance the value of the
4. The tax must be for public purposes. That is, charges for such services as water bills, parking meter charges and service fees are not deductible unless they are business PXperises, ' In addition to real estate taxes, other taxes properly deductible are state sales taxes and the state tax on gasoline, as well as federal taxes on admissions, club dues, telephone and telegraph charges, safe deposit
boxes, transportation of persons and property, use of motor vehicle and boat and documents.
WASHINGTON, Feb. 5 (U. P.). —War Production Board Chairman Donald M. Nelson is confident that the recently authorized expansion of the synthetic rubber program will avert a rubber crisis next fall. He told a press conference late yesterday that the first synthetic plants should be in production by mid-July to supply some 55 per cent of the projected total of buna-S rubber. That means, he
duction before the danger point in rubber reserves is reached next fall. He revealed that he had rejected army suggestions ‘that the government . seize all spare tires and requisition 7,000,000 private automobiles to bolster dwindling rubber stocks. Rubber reserves can only
and “mere conservation will not solve the shortage problem.” The army’s recommendations were’ revealed by Undersecretary of War Robert P. Patterson.
DAILY PRICE INDEX
NEW YORK, Feb.5 (U.P.).—Dun & Bradstreet’s daily weighted price index of 30 basic commodities, compiled for United Press (1930-32 average equals 100): : Yesterday .......... feuds s oes 160.10 Week Ago sass nbsesveere svi 109.26 Month Ago serrrennennenns 167901 Cog Year Ago von serene + 154) 1943 High (Feb. 1).. 1943 Low (Jan. 2)....:,... . WAGON WHEAT
Up to the close of the Chics market tory. Indianape flour mills iP ay grain red wheat (other
grades o on Uhelr. 0 Merit No. 2 Jit oats, 6c, and No.
elevators paid Ri. 45 per bushel for No. 2
© Takes Over Six ng
WASHINGTON, Feb. 5 (U. P)—
1 | War Production Board Vice Chair-
man Charles E. Wilson today emerged victorious in a fight with another WFB vice chairman, Ferdinand Eberstadt. Wilson has been
| given wider powers over war | in-
dustries “An arbitrary decision in the | struggle was made by WPB Chairman Donald . M. Nelson after he had failed to effect a ;eompromise settlement. : Nelson took six major WPB' industry divisions away from Eberstadt and placed them under Wilson’s control — general industrial equipment, automotive, machine tools, facilities bureau, safety and technical supplies and aluminum and magnesium. Wilson previously had under his jurisdiction the shipbuilding, radio and airtraft divisions.
One of Wilson's associates said the effect would be to “clear away a lot of confusion and let Wilson dd his job.” Eberstadt, who battled the move every step of the way because if stripped him of ‘considerable power, accepted the decision reluctantly, but friends doubted that he would resign in protest. : When asked whether resignations might flow from. the EberstadtNelson row, Nelson replied that he didn’t care and would accept all sent to him.
Controls Materials Yet
Old-Timers familiar with interagency feuds and their outcome cautioned. against writing Eberstadt out of the picture. They conceded that he had lost. at least the first round of the fight with Wilson, but reminded that Eberstadt remains in control of the allocation of raw materials under the. controlled materials plan—one of: the’ most. vital tasks in WPB. Ralph J. Cordiner, wen scheduling director - general, . ‘meantime acted to end bewilderment among war industries, re . Wilson's earlier instructions: but correcting the impression that contractors who failed to get orders by the 1 | deadline would receive slight con« sideration. Later orders, he said, will be given “every consideration,”
JANUARY WAR BOND | SALES SET RECORD
WASHINGTON; Feb. 5 (U. oo January sales of war ca vings bonis reached a record high of $1,240,444, 000 and brought the total sold since the initial offering in May, 1941, to - $12,934,611,000, the treasury. department disclosed today. The latest total compared with /# $1,014,000,000 in December and the ‘previous all-time peak ‘of $1,060,546,000 in. January last year. January -sales of series E bonds tale ~$814,928,000 and the come al of series F and G bonds
: Youngstown ‘Sheet. & Tube Co. and subsidiaries 1942 net profit $10,305,705 or $5.66 a common share
s ig Li a
and $1.0
$6c; . No. Yello CO: No. $ white bg
Open SATURDAY
Sensational! Money
fabrics. Sizes 32 to 46. Compare: these values!
FEBRUARY
v5::$16, 124,400 or $9.13 in 1941,
The CHICAGO STORE—146 E. Wash. St
& MONDAY NIGHT "TIL 9 o’CLOCK
Saving
SAVE % 10 1" SN
A NV TOPCOATS
14%
Tans, Blues, Greys, Single Breasted Fly Frent Coats! Rich new blended
BUY U. 5. WAR Bons | Te f\