Indianapolis Times, Indianapolis, Marion County, 19 February 1943 — Page 16
J. D. Adams Tells Stockholders
Of
Participation in War Effort
TOO OFTEN WHEN WE THINK OF WAR INDUSTRIES we consider only those like Allison, Lukas-Harold, Curtiss-Wright and others whose products go directly to the battlefronts. But we have many other concerns here who make vital, if not so glamorous, war products. The J. D. Adams Manufacturing Co. is a case in point. Along with its usual annual report is a pamphlet showing that Adams road building equipment has gone to war also. ‘Adams motor graders sold in South Africa in recent years were requisitioned by the British and shipped to the African desert for use in the Libyan campaign.
Its machinery is used to build airports in Brazil, the Pan-Ameri-can highway in Mexico, the new
“highway in the Panama Canall
Zone connecting the Atlantic and Pacific Oceans, in Australia and to ‘repair and build new roads in Hawaii. Many of the 400 graders bought for use in the CCC camps and national forests several years ago b were requisitioned and sent to CanMr. BudroW ,4, to help build the new Alaskan highway. In addition to these there are the more familiar needs in this country, such as the construction of the many army camps, airports and shipyards, grading for runways, parking areas, hangars, ordnance plants and so on. The company’s, profits went down glightly last year, from $435,182 after taxes in 1941 to $392,387 in 1942. That is $1.45 a share in 1941 against $1.31 a share last year. Stockholders received: 75 cents in dividends in 1941 and 80 cents last year. Despite increased sales, larger taxes and higher operating costs more than offset the increased revenue. 2 8 = : ; | THAT S HOE RATIONING order was drawn up by top OPA officials last October but kept secret because shoes were never : mentioned in it. They were called “oysters.” The story is that OPA ' clerks and stenographers were * telling their friends that oysters would soon be rationed. . » ® 2 THE BUYING RUSH that folJowed the surprise shoe order was _ just like Christmas. Indianapolis department store sales soared to 73 per cent over the same week last year, Federal Reserve bank reports. That was even greater than the increase in Chicago (up 49 per cent) or Milwaukee (up 42 per cent) or Detroit (up 40 per cent). Dun & Bradstreet reported today that this week the “frantic grabbing” had subsided somewhat. A » 8 8 ODDS AND ENDS: Bridgeport Brass Co., with'plants in Indianapolis and Connecticut, made an estimated $1,800,000 profit last year, against $1,900,000 in 1941. , . . One suburban Washington department store uses less manpower by adopting super-market policy of selfservice on many items. ... Indiana’s oil quota for March is 16,500 barrels. . + . Army has bosted rayon yarn order to one-third of all manufactured; it means less for civilians. « « « Shoe manufacturers say there is a five to six months’ supply on hand now.
LOCAL PRODUCE
Heavy breed Dens, 3% lbs. and over, 26c; hens, 3% lbs. and under, 23c; Legborn hens, 23c. Broilers, 2% Tbs. and’ yer, colored, 26c; white and barred rock, 27c; Leghorns, 22. |g Roasters, 4 lbs. and over, colored, 27c;
‘white and barred rock,
Sage: a ShoTns, 2lc; Te VY breed, 22c. Cocks,
A receipts, 54 lbs. and up Cc.
Graded Eggs—Grade A, large, 35¢; grade A, medium, 33c; grade A, small, 35¢; no grade, 25¢. Butter—No. 1, 048 lac; No. 3, 46@ 46'%2c; butterfat, No. 46c; No. 2, 43c. - (Prices on produce Goivered Ds Indian- ~ apolis quoted by Wadley
als JEWELRY
L Wal pd KET ST.
BELL INSURES FOR A BILLION
Telephone System Prepared For Emergencies in - Event of Attack.
NEW YORK, Feb. 19 (U. P).— The Bell telephone system achieved many new operating records in 1942 and obtained more than $1,000,000,000 of government war damage insurance to protect its nation-wide services against war-time hazards, Walter S. Gifford, president, disclosed today in his annual report to stockholders. The statement revealed that assets of the world’s greatest private industrial system rose from $5,893,765,919 at the 1941 year end to a total of $6,092,697,837 at the end of 1942, the first time that the $6,000,000,000 level has been topped by any
corporation.
With many of the system’s operations reaching new all-time highs,
-|gross revenues climbed to a record
peak. However, greatly increased tax provisions and a sharp drop in dividends from subsidiaries cut net profits of the American Telephone & Telegraph Co.—parent of the system—to the lowest point since 1938, failing to fully cover the $9 dividend disbursed during the year. Gifford said the insurance protection—probably the largest coverage of that type in history—on the system’s $5,296,658,000 plant, made available under a federal government program initiated last July, has been applied to buildings and equipment at selected locations. He also revealed that, “in the national interest,” an undisclosed amount of equipment and repair materials has been placed at “strategic locations” throughout the country for instant use in the event of an emergency break in service. Gifford also stated that the company has increased its supply of portable emergency radio sets for use in the event of failure in toll or long distance lines, that emergency power equipment is being provided, and special control equipment set up at “vulnerable” spots to guard
sult from air raid alarms.
Incorporations Jay ‘Petrvieum, Inc., Indianapolis; disso-
lution, Airport Coal Corp., 4th and P agent, Davi
sts., Terre Haute; E. Rosenfeld, 401 Sycamore bldg., Terre Bute; 1000 shares no par value; to operte coal mines; EG Selvia, Luther Bryant, David E. Rosenfeld
Bloomfield Machine Works Inc., P.Box 208; agent, Frank J. Griffin, same 3 i shares Tine par value; general machine Shop business; ank €C. Griffin, Chas. R. Stevens, ‘Olga K. Grin Michigan Colfax Really 2 chants Bank bldg. ianapolis; * agent, acob S. ite, same ress; 100 shar no-par value; E. J. Boleman, F. A. Sheers . M. Scanlon. "John Million, Inc., Tennessee corporation; change of agent to H. C. Smith, 315 Main st., Evansville. The Ft. Wayne Morris Plan Co., Ft. Wayne; amendment changing number of directors to 11. . G. Vogel Co., New Fork corporation; change of agent to Fred C. Gause, 1342 Consolidated dg. Indianapolis. Forem Realty Corp., Indianapolis; change of address to 1342 Consolidated bldg., Indianapolis. Bourjois, Inc., New York City; registra. tion of trade mark “Bourjois” and ‘Mais oui,” class 6; chemicals, medicines Mare pharmaceutical preparations. Centlivre Brewing Corp. registration of trade mark “500 Club’ and figure of a crown, class 47; malt extracts. A te A A Hs.
Bigelow-Sanford Carpet Co. Inc., 1942 net income $1,261,552 or $3.51 a common share vs. $2,044,304 or
ular
Inc.,
$6.01 in 1941.
l
You Save Because We Save Men’s Suits & Overcoats
16” 518% 1 94"
CASE CLOTHES
215 N. Senate Ave. Open9to9
Make Woodworking Your Hobby. Use DELTA MOTOR DRIVEN TOOLS Exclusively at ~ VONNEGUT'S 120 E. Washington St.
GUARANTEED
/) IV YT
AT OUR USUAL [aol a IX
nN 43 S.
SEE Clothing on Credit
SEYMOUR’S 141 W. Washington $t.
USE YOUR CREDIT at
IVIIOISHSIONIS!
CLOTHING COMPANY
131 W. Washington St. Directly Opposite Indiana Theater
against any overload that might re- |g
O.|N Ind Pub Serv 6%
Mer- sc
Fort Wayne; r ay. iy
LADIES’ Odds & Ends
SPECIAL
138 E. WASHINGTON ST.
WHEEL CHAIRS i Why buy ope? Rent one at HAAG'S ALL-NIGHT : DRUG STORE
This Week Special—
ii 39 Ti
WE Buy Diamonds
HIGHEST Las PRICES
STANLEY “Jewelry Co. 113 W. Wash. Lincoln Hotel Bldg, Sqmg Fins Quatityl Same Low = MEN'S HATS 3° Le - s
KINNEY’ SE
hates Sinclair Proposal Is ‘Squeeze Play’ by Major Concerns.
The suggestion that two-thirds of the filling stations be closed to release manpower was attacked bit-
companies as a “squeeze play by the major firms under the guise of patriotism.” The idea was broached yesterday by Harry F. Sinclair, president of Consolidated Oil Corp, one of the larger oil concerns. Independents here who criticized the proposals were - Robert M. Stith, president of the Wake-Up System; J. E. Fehsenfeld, president of the Crystal Flash Petroleum Co, and L. E. Kincannon, vice president of the Rock Island Refining Co. Mr. Stith said it would be a “gross injustice to independent oil dealers because it would cripple their only source of income, whereas it would not hurt the major oil companies because they make more profit from their production, refining and pipeline activities than they do from their retail sales departments. It is just another squeeze play by the major firms under the guise of patriotism.” Mr. Kincannon said the “independent has shown he can live on the retail business alone which is conclusive proof of his efficient operation.” Mr. Fehsenfeld claimed the “major firms have seized most of the defense work so closing of
two-thirds of their stations would] not affect them proportionately.” | “They have all the contracts for the making of synthetic rubber from petroleum and all the high-octane aviation gasoline business. Now
1 : 8
terly today by independent gasoline
Independent C Oil Men Here Attack Plan To Close Two-Thirds of Filling Stations
Oil men opposing the Sinclair proposal are (left to right) Robert M Stith, J. E. Fehsenfeld and L. E. Kincannon,
they want to give us the knockout punch.” Mr. Stith said he wondered if the Sinclair proposal was in reality.a “trial balloon” for the government. He charged that the petroleum industry war council of 63 members has only one or two of whom represent the independent firms. “We agree that manpower is important in the war effort. At the same time we believe the petroleum industry is necessary in keeping the wheels of war moving. Independent dealers deliver more gallons of gasoline per man-hour than the
major concerns do. Transportation
certainly is the number one problem and we have dedicated our efforts to that end. We believe all
stations not doing a representative amount of business should close unless their closing should affect war transportation.” Mr. Fehsenfeld charged that the elimination of gasoline credit cards was not a help to the war efiort, but aided the major companies be-
1 cent a gallon to service those cards.” He added that the rule that no station could be open more than 72 hours a week worked in favor of the larger companies and to the disadvantage of smaller ones. We are convinced the major companies are using the war effort to eliminate bad practices in their industry and cut the throats of the smaller firms.”
CORN PRICES OPEN AT OPA CEILINGS
CHICAGO, Feb. 19 (U. P.)— Grain futures strengthened on the Board of Trade today, as traders watched Washington for developments in the price ceiling controversy. At the end of the first hour, wheat was up % to % cent a bushel, corn up % to %, oats unchanged to up 1% and rye unchanged to up %. Soybeans were inactive. Pit observers pointed out that at the high yesterday wheat futures advanced more than 10 cents above the loan price and No. 2 hard winter: 15 cents over. These premiums, they felt, should attract increased country offerings. Corn futures opened at ceiling prices for May and September deliveries. Grainmen bid dt the ceiling price for July but offerings were not available.
LOCAL ISSUES
Nominal quotations furnished py local unit of National Association of Securities Dealers. Asked Agents Fin Corp - com ....ee. vee Agents Fin Corp pfd ........ 20 Belt RR Stk Yds com 42 Belt RR Stk Yds 6% pfd.... 53 Bobbs-Merrill com Bobbs-Merrill 4%% pa. ircle Theater com Comwlth Loan 5% pd Hook pug Go 2% Home T&T Ft Wayne 1% pid. 5% Ind Asso Tel 5% Ind .& Mich 7% a cess Ind Hydro Elec 7% .-... Ind Gen Serv 87 pfd . Indpls P & L 5% pid... Indpls P & L com Indpls niwys, Inc, COM ceovues Indpls Water pf ..104 *Indpls Water Class A com ... 1 Lincoln Loan Co 5% pfd .... Lincoln Nat Life Ins com. N Ind Pub Serv 5%% pfd..
9 N Ind Pub Serv 7% rid P 3 Maliory com... sevens 1
Van Camp Milk PIA ciaseeees . 66% Van Camp Milk com .. «13 Bonds Algers Wins'w W RR 4%%.. American Loan 5s 51 American Loan 5s 46 Cpu Ne Newspaper 4'%28 42-51. 1dg Co 42s 51.. iy “nd. Tel 4%s 61 Consol 5s 60 Ind Asso Tel Co Shs 70 .....10 Indpls P & L 3%s 70 ..... dl [ndpls vive Co 5s 67 [nc pls Water Co 3%as
2
ner P
s 556 Richmond Water Wks 8s 87...105 Trac "erm Corp 58 57 7 sEx-dividend.
WAGON WHEAT
Up to the close of the Chicago market today, Indianapolis flour mills and grain ors paid Bi. 48 per bushel for No. 2 red wheat (other grades on their merits). No. 2 white oats, 56c, and No. 2 red oats,
‘Public Wants Less Sales Talk Now'
“People today are buying life insurance for wartime needs but they will not listen to long sales talks,” Lowell L. Newman of Ft. Wayne told the Indianapolis Association of Life Underwriters yesterday. New directors elected were Henry Dashke, Orville Bego and Gilbert Templeton. Joseph York was elected secretary to succeed the late Earl T. Bonham.
RARE METAL USE IN HEAD WOUNDS URGED
By Science Service CHICAGO, Feb. 19.—Use of the rare metal, tantalum, for plates and discs to replace pieces of skull lost in war wounds is proposed by Lieut. Robert H. Pudenz, medical corps, U. S. naval reserve, in a report te the Journal of the American Medical association here, Success with this use of tantalum in laboratory experiments is re-
ported by Lieut. Pudenz, who also! An ::* .lquotes as ‘yet unpublished reports from other surgeons who have used 3
it successfully on some human patients. Tantalum is a “bluish white metal resembling steel in properties and glass in its chemical characteristics,” Lieut. Pudenz says. An iniportant advantage of the metal for surgical use is the fact that it can be drawn into wire or rolled into sheet while cold. Because it is easily malleable, the surgeon can cut and mold a piece of tantalum to the desired shape at the operating table. In addition, tantalum does not corrode, is not nonabsorbable. Tantalum has previously been
used by a few other scientists for
bone plates and screws and wires in both animal and human tissue.
U. S. STATEMENT
WASHINGTON, Feb, 19 (U. P.).—Government expenses and receipts for the current fiscal year through Feb. 17, compared with a year ago:
This Ye Expenses ...$45,215,154,100 War Spend.. 41,572,434,949 Receipts .... 9,05
Last Year $15,824,077, 132 5,230,186,546 10, 520, 044,82 2,62 6,67 0,429 1, 1867, 317, 1891 A 66,397,803,966 Gold Reserve 22 "642, 1403, 846 22,711,660,060
' INDIANAPOLIS CLEARING HOUSE
Clearings Debits
Mayflower Hotel Corp. 1942 net income $253,149 or 65 cents a com-
S56c; No. 3 yellow corn, 90c per bushel, and No. 3 white corn, $1,01.
THIS CURIOUS WORLD
CRT Ty,
on Recs. euro
mon share vs. $270,516 or 69 cents in 1941.
By William Ferguson THERE ARE ABOUT
GMILLION KINDS OF INSECTS IN THE WORLD..:. AND IN THE
UNITED STATES ALONE INSECT DAMAGE AND © CONTROL AMOUNTS ANNUALLY TO
2 SziroN OCULAR;
A / ww. A
its physical a] Refin
FLETCHER AMERICAN PAYS FIVE PER GENT:
Another 5 per cent dividend will be paid depositors and creditors of the Fletcher American National bank of Indianapolis, it was announced today. The $262,000 payment makes a total of 16 coupons on outstanding certificates of beneficial interest in
by the liquidating trustees, Otto J. Feucht, John P. Collet and William |m N. Fleming Jr.
There was a 20 per cent payment paid each year from 1937 to 1941
payments to Reconstruction Finance Corp., $6,852,661 has been distributed to date.
Holders may cash their certificates at American National bank.
N. Y. Stocks
Net High Last Change
Ji15
Low 15-16 146 29% 81 175% 7y
Allegh Corp .. Allied Chem ..
ing ... Balt & Ohio.... Bendix Avn ... 36 Beth Steel Borden Borg-Warner .. Briggs Mfg .... 24 Chrysler Comwlth & So.. Cons Edison . Cons Oil Corn Prod . Curtiss-Wr . Dome Mines .. Douglas Airc .. 61 East Kodak #..153 Elec Auto-L .. 327% Gén Electric’ .. 35 Gen Mills pf . 130% Goodrich Goodyear Hudson Mot ... Int Harvester.. Int Nickel Int
+11:
Tid Tees Johns-Man .... Kennecott .
L-O-F Glass.. Link Belt Nash-Kelv ,...
Nat Cash Reg.» N Y Central . Ohio oh
Pan yi Air’ YS Penn RR re Philips Pet ...
+L HE;
Stokely Br one. Studebaker .... Swift & Co ... Timk-D Ax ... 3 United Aircraft 30 Ya US Rub 1 pf..105% 105 U S Steel pf ..115% Warner Bros .. 9 West Union ... 327% West Air Bke .
- PITH] etd: ++
Woolworth .... Yellow Tr 16 Young Sheet .. Zenith Rad ...
+4
Complete New York stock quotations are car- | ried daily in the final edi- | tion of The Times.
than bulk sales yesterday,
cause “it had been costing them]
trusteed assets that have been paid|Go
in 1936 and 10 per cent has been Good
and 5 per cent last year. Including|g
4 | Medium—
7 | Good and choice
: Good ‘and choice 5 Medium and good
“ADVANGE HERE
Quotations.
Hog prices were 5 to 156 cents higher than yesterday's extreme prices at the Indianapolis stockyards today, the food distribution administration reported. ‘Most hogs weighing from 160 to 400 pounds were 10 cents higher but lighter - weights were unchanged. The top was $15.85 for good to choice 200 to 225-pounders. Vealers were steady with a $17.50 top. Receipts included 5700 hogs, 600 cattle, 375 calves and 350 sheep.
HOGS (5700)
Good to choice—
© 120- 140 pounds ..coecccenes- [email protected] 140- 160 pounds ...... sa saleis [email protected] 160- 180 pounds ... ... [email protected] 180- 200 pounds .... «+. [email protected] 200- 220 pougds .... esos. [email protected] 220- 240 pounds .... [email protected] 240- 270 pounds [email protected] 270- 300 pounds . i 300- 330 pounds ... 300- 360 pounds ... reas 330- 360 pounds ...eccesescss Medium— 160- 220 pounds Packing Sows
Good to choice— 270- 300 300- 330 330- 360 360- 400
Good—
15.25@ 13 35
35 . [email protected]
400- 450 . [email protected] 450- 550 [email protected] Medium— 150- 250 Sernesavenveis [email protected] Slaughter Pigs Medium to Good— 90- 120 pounds CATTLE (600)
Slaughter Laitle & Calves
Chole: 700- 9 ounds ... 900-1100 ho mls ies 1100-1300 oun cavers 1300-1500 pounds . Good— - 900 pounds .. 900-1100 pounds 1100-1300 pounds ..... 1300-1500 pounds Medium— 700-1100 pounds esese00cscee 1100-1300 pounds Common— 700-1100 pounds css0,00000000
[email protected] [email protected] [email protected] [email protected]
14. .50@15. 5
[email protected] [email protected]
Choice— 600- 800 pounds 800-1000 pounds ... od— 600- 800 pounds .. S0° 1100 pounds
[email protected] [email protected]
[email protected] [email protected]
sseeeveevs sevccssense
[email protected] [email protected]
Moos 900 pounds coos Common— 500- 90 pounds Cows (all weights)
[email protected] edium Cutter and Common anner Bulls (all weights) (Yearlings Excluded) [email protected] [email protected] [email protected] [email protected] CALVES (375)\
Vealers (all weights)
Good and choice [email protected] Common and medium [email protected] Cull (75 lbs. up) [email protected]
Feeder & Stocker Cattle & Calves
Beef— G
Sausa . Good an weights) c.oeveees Medium
Choice— 500- 800 pounds « [email protected] 800-1050 pounds .....esee esse [email protected] Good— 500- 800 pounds 12.50 800-1050 pounds ... 12.25
trevessnsess [email protected] : [email protected]
sesss 11.50 seseseesss 11.25
500-1000 pounds Common— 500- 900 pounds Calves (steers) Good and Choice— '500 pounds down Medium— 500 pounds down Calves (heifers)
[email protected] [email protected]
Ya Good and Choice—
600 pounds dOWN ..v.ececccee [email protected]
Medium: 500 pounds dOWR ceccvncccacs [email protected]
SHEEP AND LAMBS (350)
Ewes (shorn) 9.00
Common and choice ....... .. 6.00@ 7.50
Lambs 15. 5@ 16.50 [email protected] [email protected] Lambs (Shorn) Good and choice
Medium and good Common
j6.90
Yearling Wethers
2% Good and choice ......... ve.. [email protected] um
OTHER STOCK
E, Feb. 1
100-130 1bs.,
Roughs $14.25; stags, $12.50; male hogs, 30 Jown; calves, $17; lambs, $15. 15; ewes, own.
DAILY PRICE INDEX
NEW YORK, Feb. 19 (U. P.).— Dun & Bradstreet’s daily weighted price index of 30 basic commodities,
¥%| compiled for United Press (1930-32
average equals 100): Yesterday ... 169.96 Week AZO :ececsesssessssss Holiday Month Ago (EXER RN EE ERNE EE NN] 168.46 Year ABO «¢.:sesecccscocssses 155.20 1943 High (Feb. 18) .coeoees 169.96
: 1943 Low (Jan. 2) ....esee... 166.61
"HOOSIER HELD BY JAPS
AVILLA, Ind, Feb. 19 (U. P.).—! Mrs. C. H. Teders; mother of James | E. Lash, learned from Washington officials today that her son is a. prisoner of the Japanese at. Cor-
|regidor. Lash previously was re-
ported isi. LL
COMPLETE GLASSES—Call quick for ing. = Modern stylish rimless “Gold-Filled” finish mounting and
. 15 DAY TRIAL!
ha P satis fod sticr lr LEE : prescription,
GLASSES on CREDIT
‘glasses,
b YAR OR NEAR VISION, at our new low price,
this unusual offer. complete with TORIC lenses for
LOWER PRICES
LARGEST OPTICIANS IN AMERICA
of - this firm own
be a TR chain
Most Weights Up 10 Cents |
Hits Milk Prices
Charles W. Holman, secretary of the National Co-Operative Milk Producers federation, warned the senate agriculture subcommittee yesterday that roads will-be lined with a steady stream of cows en route to the slaughter houses instead of to dairies if the OPA ceiling on producers’ milk prices is allowed to stand.
WILSON GIVEN MORE POWERS
Nelson’ Makes Him No. 2 Man in WPB With Author-
ity Over Jeffers.
WASHINGTON, Feb. 19 (U. P.) — Charles E. Wilson, former head of General Electric Co. today was vested with sweeping supervisory and directive authority over every policy-making and operating unit of the war production board, includ-
ing the office of Rubber Director William M. Jeffers. A general administrative order issued by WPB Chairman Donald M. Nelson defined Wilson’s increased authority as executive vice chairman. Wilson became No. 2 man of the board Tuesday when Nelson ousted Ferdinand Eberstadt as vice chairman in charge of materials allocation. The order was regarded in Informed circles as notice by Nelson, whose ouster of Eberstadt was bitterly opposed by the armed services, that he is in the fight with them to the finish. Release of the order came at the Olclose of a day filled with wild rumors about Nelson’s future relationship with WPB. One widespread report was that extreme pressure was being placed on President Roosevelt by leaders of the armed services to force Nelson’s resignation. Another was that Undersecretary of War Robert P. Patterson and Undersecretary of the Navy James V. Forrestal had threatened to resign unless Nelson is ousted. None of the reports could be confirmed. Nelson told his staff Tuesday that he had no intention of resigning. His aides today said his position was unchanged.
Canada Permanent Mortgage
currency $692,441 or $9.89 a common
Corp. 1942 net income in Canadian |
REPORT PL
‘OF OIL FOR MS
Cities Service says Javan Has More Than: Ever In Her History.
NEW YORK, Feb. 18 (U., P).— Japan is getting more oil today-, than ever before in her history and / Germany and Italy have come close to balancing their supplies and military demands, according to a comprehensive study issued by three research experts of the Cities Service Co. In a report to the American Institute of Mining and Metallurgical Engineers, V. R. Garflas, J. W. Ristori and R. V. Whetsel of Cities Service's foreign oil department, declared that Japan is now getting 23,000,000 barrels of oil a year from conquered far eastern oil fields which had a normal peace=time output of 78,000, 000 barrels ane nually. In addition, Japan itself is producing 6,900,000 barrels of petroleum substitutes and 3,400,000 barrels of crude annually to bring total yearly supplies to more than 33,000,000 barrels or 8,000,00 more than her largest consumption in any Reacetime year. > The scientists urged the united nations’ to make the most exten-
{sive efforts, through bombing or
otherwise destroying the fields, to halve this flow of oil to Nippon. ‘
Lacks Transportation
The major obstacle that might. prevent Japan from making full use of these oil supplies, it was stated, is the problem of ocean transportation and, to a lesser extent the lack of refining equipment. The Cities Service experts estimated that in 1942 Germany and’ her European satellites obtained 55,« 800,000 barrels of crude oil and produced an equal amount of substitutes. During active military: campaigns, they added, the European axis powers would require about 13,000,000 barrels monthly, or 156,000,000 barrels a year, while between campaigns their consumption would drop to 9,000,000 barrels monthly or an annual rate of 108,000,000 barrels.
U. 8. Still Leads
Despite the strength of the axis’ oil situation, the experts’ appraisal of the world supply position showed a continuing overwhelming superiority for the united nations in this strategic material. The United States maintained its undisputed rank as the world’s num=ber one oil center with a 1942 output of 1,464,000,000. barrels—more than half the world output of 2,207,800,000 barrels—including 1,385,000,000 barrels of crude and 79,000,000 barrels of substitutes. Russia ranked second with 214,000,000 barrels, of which 212,000,000 were crude. and 2,000,000 substitutes, followed bl Venezuela with 146,500,00 barrels— 145,000,000 crude and 1,500,000 synthetic.
DROP TRUSCON STOCK NEW YORK, Feb. 19 (U. P).— The common stock, $10 par value of Truscon Steel Co. has re stricken from listing and registration on the New York Stock Exe change.
Apollo Steel Co. 1942 net income
share vs. $690,357 or $9.86 in 1941.
$93,514 or 74 cents a common share.
NATIONAL
cates.
Certificates of Interest,
NOTICE
PAYMENT OF COUPON NO. 16
Certificates of Interest Issued by Liquidating Trustees Under Plan of Reorganization of
THE FLETCHER AMERICAN
INDIANAPOLIS
Notice is hereby given that Otto J. Feucht, John P. Collett and William N. Fleming, Jr., as Liquidating Trustees for The Fletcher American National Bank of Indianapolis under Indenture of Trust dated August 23rd, 1933, have declared a distribution by way of liquidating dividends upon the outstanding Certificates of Interest in trusteed assets issued by the Liquidating Trustees designated under the Plan of Reorganization of The Fletcher American National Bank of Indianapolis, in an amount sufficient to pay and discharge Coupon No. 16 Stiached to; said Certifi-
In accordance with the provisions of said Indenture of Trust and ef the Certificates of Interest heretofore issued thereunder, the undersigned Liquidating Trustees have deposited in American National Bank at Indianapolis, Indiana, an amount sufficient to pay and discharge Coupon No. 16 attached to said Certificates of Interest. Accordingly, Coupon No. 16, which should be detached from said Certificates of Beneficial Interest, may be presented forthwith to the American National Bank at Indianapolis for payment. = Notice is hereby further given that a deposit in an amount sufficient to pay said Coupon No. 16 attached to said Certificates of Interest having been made with American National Bank at Indianapolis, depository, in accordance with the provisions of said Indenture of Trust and of said
dating Trustees, or their successors, have no further liability for or on account of payment of said Coupon No. 16, and the holders thereof shall look solely to such deposit and not to the undersigned Liquidating Trustees or fo their successors in respect of the amount so deposited.
OTTO J. FEUCHT,
BANK OF
the undersigned Liqui-
JOHN P. COLLETT,
WILLIAM N.
"FLEMING, JR,
Liquidating Trustees for The Fletcher American Indianapolis
National | Bank of of Trust Dated
Ed Indenture
gia a i.