Indianapolis Times, Indianapolis, Marion County, 4 March 1943 — Page 10
$568,000 for i Plant Here|
— by ROGER
BUDROW—
: BRIDGEPORT BRASS C0.’S SALES increased 28 per| Cent last year, because of its war business, but its net profit ent down about $400,000 from the year before. For operating the. government-owned ordnance plant] at the edge of Indignapolis, Bridgeport Brass was paid $568, 000, under the cost plus fixed fee contract.
. There are two major reasons why Bridge
port Brass had a smaller profit. In the first place, it dis- PORKER PRICES | covered that it’ was making too
mich profit on its government : work s0 ‘in May it began revising its prices. Every
REDUCED HERE
three monthnov| yy os Weights Are Are 10° Cents
the company and|’ representatives of ‘the armed serv-|. ices go over this profit on govern-
Below Yesterday’ s -23-Year High.
ment contract
situation. : In all AR the price reducMr. Budrow '; . amounted to $7,630,000 last year, ~:In the second place taxes were ‘much higher. Bridgeport Brass had fo pay $7,000,000 in taxes last.year 8gainst $5,700,000 in 1941. : : ‘There were other factors. The “gompany increased its depreciation ‘rates 50 per cent because the wear and tear on equipment was greater than usual. This is far more than the government allows for tax purposes. :- Part of the increased income was put in a post-war reserve. In 1941 the company put $400,000 aside and last year added $300,000. Other “money went for the purpose of buy= ing up on the open market and, retiring 2100 shares of the company’s 5% cumulative preferred stock. - After all charges, ‘n profit was $1,522,161 or $1.48.4 common share against $1,932,150 or $2.03-in 1941. ; - The Indianapolis plant is the dargest one that Bridgeport Brass operates under government contract. ‘Ground was broken for ‘the brass rolling mill and cartridge case plant ‘here in May, 1941. The first bar of cartridge brass was cast in March, last year and the plant was formally opened in May. ; s » ” . ALLIED LABORATORIES, parent company of the Pitman-Moore ‘chemical concern of Indianapolis and Zionsville, did well in the matter of profits last year. Although taxes doubled, profits rose from $340,000 in 1941 to $450,000 last year. The company says its sales of human pharmaceuticals and biologics may not increase as much as in the past, because so many coders. are away at war, but it’ expects ‘orders and other new outlets to help ‘compensate. Because of the in‘crease hog production, it expects ‘sales of its: anti-hog cholera serum . Jo keep on increasing. 5% ® #2 ODDS AND ENDS: The trade says WPB will release some mechanical refrigerators for public sale without priority) on or before April 1. American Car & Foundry will lay off 2000 workers at its ‘Berwick, Pa., plant because of the out in tank building and will discontinue assembly of tanks at St. Charles, Mo. . . . Bridgeport Brass is considering borrowing 10 million dollars (through “V” loan). . , . Borden Co. plans to ‘sell eight ~ varieties 1of dehydrated soups: and
‘powdered- coffee after the war. . , .|Com
U. 8. Rubber Co. will pay 25 cents a ‘share on its common stock June 28, - first dividend on it since December,
1941, when $150 was paid... . ;
‘Hughston M. McBain, new president ‘of Marshall Field & Co. of Chicago, is the fourth president of the com‘pany who is of Scottish descent: in 90 years only two non-Scots have ‘headed the company. :
_U. S. STATEMENT
March 4 (U. P.)—Goyent expenses and receipts for the ¢ oT fiscal Jear through March 2 compared wiht a year 80h Last
s Yea t Yea J Be 48.115, 918. 148 $17,106,121, 178 : Spend. a 374, 12,811,783,166 7.35091 5,603,957,199 A 11,427,852,628 r Bal, 4,247, 734. jo4 2,645, 653, 032 i. 118,345,344, 68,124, 555,711 Res. ... 22,643 157468 22,704,829,273 INDIANAPOLIS CLEARING HOUSE
183,507,000
Hog prices at the Indianapolis
the food ‘distribution administration reported. Prices for hogs weighing 160 pounds or more were 10 cents below yesterday’s while lighter weights were unchanged. The top was $16 for good to choice 200 to 225pounders, but some sold for $16.10. Receipts included 5500 hogs, 900 cattle, 300 calves and 1000 sheep.
HOGS (5500) Good to choice— 120- 14: POUNAS eccseccsises [email protected] 140- 1 esses [email protected] vee [email protected] . «. [email protected] evesssssssss [email protected] wasessesssss 1590018. i . 15.90@ 270- 300 pounds .. ess 15. Sate. it 300- 330 pounds ... «es [email protected] 330- 360 pounds ec.escccscs. [email protected] Medium-— 1602 200 pounds c.secescenss [email protected] Packing Sows : Good to choice— 270- 300 pounds sséseecs..o. [email protected] 300- 330 pounds ..eseesvecee 835014 360- 400 pOUNAS sesccevesce. [email protected] 360 450 pounds eeseccceases 13350153
Good 250 POUNAS ovvsesssses. [email protected] 450= 550 DOUNAS «ovvvvessso. [email protected]
Medium— 150- 250 pounds ...
CATTLE (900)
eesssasscse. [email protected] essere [email protected] essscssses.. [email protected] 1300-1500 essesssesses 16.00 16.75 Good— 700- 900 ssisessssces [email protected] 900-1100 . . [email protected] 1100-1300 eon . [email protected] 1300-1500 svsssccsssss [email protected] Medium— 700-1100 pounds seececcecs.. [email protected] 1100-1300 pounds ..sssescees. [email protected] Common— 700-1100 pounds .....:...... [email protected] Heifers Choice— 600- 800 pounds ....csscs... [email protected] 800-1000 pounds evecescccees [email protected] Good— 800- 800 pounds .csececscscse xem 800-1100 pouUNdS ssccssccccces 14.25@15
9. 25@10. 75 1.7%5@ 9.25 Bulls (all weights) (Yearlings Excluded)
CALVES (300)
Vealers (all weights)
Gaod to Shoiee + s Common gue 1 . Cull (75 lbs. 9.00@13; 00
Feeder & he Cattle & Calves Steers
Choice— 300-1080 bounds 151s 1esreeer 13.0Q14T8 poun $%e0e00 cease Good—
500- 800 pounds s.ee.ecssesss [email protected] 2200-1050 pounds ....c.esceece. [email protected]
500-1000 POUNDS ..eecee.se... [email protected] : [email protected]
Good and Choice— 500 pounds down [email protected] Medium— :
and Choice— i 500 pounds dOWR ....s..ve.. [email protected] Medium-— 2 500 pounds down .ce.ccuee.en [email protected]
SHEEP AND LAMBS (1000) Ewes (shorn)
1 Good and choice a ea 9.00 Common and choice ...eceese @ 7.50
Lambs Good. and choice ............ [email protected] Medium and 800d sssveseey -- 1350148 Common ....:i... Sriasestvaces [email protected] Lambs (Shorn) Good and 4 choice [email protected] Medium d good Common nach
. [email protected] [email protected]
N. Y. Stocks
High Low Last Pons
| ers, “The men of the navy look upon
so| People play an important part in
| production.
14.00 | wish is that men in blue and men
stockyards today receded from yes-| terday’s 23-year record high prices, | 8%
Col. Walter S. Drysdale, commanding officer ‘of Ft. Harrison, pins. the “E” lapel pin on Mrs. Elsie Denzio at ceremonies at the StewartWarner Corp. yesterday. Rear Admiral William Carleton Waits, U. 8. N. (retired), presented the “E” pennant.
s 2 =»
Governor Schricker Ploads
United Corp.
3 WILMINGTON, Del, March 4 @. {PJ ~The battle for control of the|' a 1$160,000,000 United Corp. entered its],
second round today with inspectors
of proxies presented by. the op-
i | posing forces.
The exciting, if inconclusive, initial
stanza at yesterday’s annual meeting
of stockholders saw Randolph Phil-
i |lips of New York city, owner of 1000
shares of the investment concern, admitting to reporters that the 18,-
2 000 proxies he held probably would .|be insufficient to oust the > present 5 management, - Ji
“The management came forth armed with 22,000 proxies, including
{that of St. Regis Paper Co,, owner
{of 1,000,000 shares of United Corp. {Phillips said he had believed St. Regis would support him and asked for a two-month adjournment of ‘the meeting to permit him to attempt to
Jconvince St. Regis stockholders at
their impending meeting to instruct : their proxies differently. : attorney, - Logan, charged the: ‘management proxies were obtained in violation of the securities and exchange com- | mission proxy rules because - the] notice failed to state that ecandidates for directors nominated by the management would be opposed 'by Phillips, although the company had been previously notified to that effect. Exchange of charges and counter-
_ For Less Plant Absenteeism] Sorin scat,
By VICTOR PETERSON
advantage of J. P. Morgan & Co., Morgan Stanley & Co. and the Bon-
Employees of the Stewart-Warner Corp. yesterday received the|bright interests, rather than for coveted Army-Navy “E” award for excellence in production and ‘vocally stockholders.
pledged themselves to add a star to ‘the pennant in ais months for
continued support of the war effort.
Actually, it was not certain if the meeting really got under way yesterday, since complete tabulation of
Ina colorful but highly informal ceremony, marked by audience|proxies will be necessary to deter-
participation, -Rear Admiral William Carleton Watts, U. 8. N. (ret),
presented the pennant to the company. J. W. Dunn, plant manager, accepted. “While America is at war; StewartWarner will be at work,” he said. The slogan meshed neatly with the principal point of all speakers... a plea for less absenteeism in plants.
Governor Quotes Pyle
Governor Schricker quoted from Ernie Pyle’s column in The Times and said of the North African campaign, “We must see that the phrase ‘too little and too late’ will not be repeated. The word victory is hol-: low with plant absenteeism. The absent ‘I’ in vic(t)ory means our loss in battle.” In presenting the pennant, Ad90! miral Watts said to the war work-
you as friends and comrades. Your costume is -as gallant as navy blue or army khaki and the men in uni-’ form challenge you to be faithful to}: your assigned tasks as they are in theirs. ; “They have but scorn for absenteeism that deprives them of vital supplies in time of need. You
the success of the navy with your
‘Our Success—Your Success’
“Our success against ‘the , sub menace is your success. A victory for the U-boat could mean the fali of Russia, perhaps Great Britain and the end of our forces in Africa.” Col. Walter 8S. Drysdale, comng officer of Ft. Harrison, presented the “E” lapel pins to two chosen employees, Orville Lamb, one of the first to be hired by the Stew-art-Warner plant in Indianapolis; and Mrs, Elsie Denzio whose husband and brother are in service. “We have .not yet begun to fight,” said Col. Drysdale. “The navy has done a fine job and I don’t know what ‘we would have done these past few months without them..But the great offensive will: begin soon, of that you can be sure. “War is not: glamorous either here or on the field of battle. But we have the will to win. My only
in olive drab could be Here today from the battlefield. Then they would know we have the spirit to fight.” Drysdale: Carry on’ After pinning on the individual awards, he turned to the employees
mine if a quorum was present, -
i
Points on POINT Rationing
! of elections scheduled to report on |" DOE their progress in counting thousands
on to new highs. Las ; Practically thie fie kaise Hit advanced. to new is for the year and longer at time when an attorney represeiiting the roads at labor hearings "said the present profitable activities were only temporary . and would disappear with tne end of the war. ‘Railroad bons have been more active than railroad stocks. Speculative issues, s)me without equity or with very litile, have enjoyed as good a market iis the higher graces. ‘The same has bien true of stocks in tae railroad anc in ‘other groups. Speculative demand for lowe priced issues lias attracted more
.land more buyers. In the ‘recent
rise in Brooklyr ‘and ‘Queens Transit, -and Brookly1 Manhattan Trensit, no attentio: was paid to the liquidation valuss and’ the prices exceeded these figures. ay estimated by the experts. ° Another thin: whi the oldtimers do not lilie is that the market “story” has landed on the fronf pages of some oi: the leading: newspapers. Advertising the market in such way attracts many ‘speculators. and the experienced market opera=-| tors often take that opportunity: to unload some of their holdings. In the curreni- market, the old rules of the ganie appear to have lest their potency, according to the experts, who say the end of the rise is not yet in sight. : ‘Inflation ‘talk has come’ to the forefront again as it vaually, dons
SEE ets
rails have been ‘market ~ In inflation these stocks
; hed d| would be the poorest purchase since.
their income is fixed. As: for the railroads, the Street explains, their popularity readily on the basis of price-to-earnings ratios, improved credit positions through borwl retirement, and strengthening of _Working capital ons. “Sharp thoug eir advances have been,” says the J. S. Bache & Co. commentator, “many issues in the railroad section can still be considered reasonably priced. Wage and rate problems have yet to be solved but the hope remains that interest coverage for most carriers and remaining net per share will continue attractive when this is done. A traffic let-down is generally expected when peace comes, but activity in the durable goods and heavy industries in the post-war phase may well permit the rails to enjoy. fairly. good results at such time.” . Not long ago the financial district looked for a substantial reaction in the. list ‘around the end of February or the first part of March. It was believed that traders would dump stocks in fairly large volume to raise funds to meet the first income tax instalment. Such selling can still develop, it is pointed out, but just now the street is doing less talking about it than a short time ago. Analysts point out that many individual issues appear in a topheavy position and could well be subjected to corrective influences. None ag yet believes this corrective |N
process will influence the whole list.
é
CHICAGO, March Fi House conmittee ‘appro = | Bankhead bill, passed by and favorable action by group on the bill to permit wheat sales for feed at corr : lifted wheat futures to the prices since 1929 on. the Trade today. Other grains rallied in oper trace. Corn remained inactive. Aj the end of the first hour wh was up % to 1 cent a bushel; corn unchanged at OPA ceiling leve oats up % to %, and rye up % to %. The wheat market not only took a bullish turn from Was developments but heavy flour: de-
new 14-) missiol houses on heavily, nad inter« est centergd on September futures. In the Chicago stockyards top - grade hogs were hid up to $16 hundredweight, the highest price since October, 1920. © The general rise of 10 to 15 cents Primarily re flected a smaller than expected run of saleable receipts. $
DAILY PRICE INDI NEW YORK, March 4
Dun & Eradstreet’s daily we price index of 30 basic
average equals 100): Yesterday ........pe0ser0ns Week 880 ....u ouvvcivease Month ago Sess Bvtisrennone Year BBO ...iivssvinnnnannes 1943 High (March 2).....ss
1943 Low (Jan. 2)......
WAGON WHEAT
Up to the close of the Chie m today, Indiznapolis, four mile and. sexes elevators pnid $1.53 per bu ted Wheat (other kd on thelr merits), 2 white oats, 57c, and No. 2 red oats,
5c: No. 3 yellow hy and No.3 waite corn, $1.03
i Yi avd Eddie Rickenbacker's life! 197s Yes, YOU did!’ It ¢ was your rubber in those fafs that brought “Rick” and his” sompanions safely through twenty-one days of travail and torture on the South Seas. Your rubber? Ye, thie rubber you. did't use in pleasure pilgrimages. The fubber
® Poise Rasiobing 1s & method designed to, lim the distribution and consumption of certain scarce com. modities—at present, canned and bottled fruits, canned ~ végetables, soups and juices; frozen fruits aad vegetables; dried fruits: = A point value is given to each rationed commodity, scaled in relation to the quantities available. Thus, s can of peas carries a value of 16 points; s can of beets, 10 points, etc. Point values will be identical at all reeail Sores, They have wining whatever w do wid the pric
Bach individual has a toil of 48 poiats moathly. This = ol is your maximum allowance. Budget your stamps care- ~~ fully. Try to select the more sbundant items. Substitute _ non-rationed foods wherever you can. Try to save some thing from your allotment each month. Every stamp you 48 ase Mavis s contribution of Ayling feeds Sor our Apion a... x Leet s 3
: llegh © ‘3 2 LOCAL PRODUCE o_o 163 1 1iéland said, “Carry on and wel knock | Allis-Chal 31% 4 them for a loop.” Heavy breed hens, 3% Ibs. ane over, Can i : Ba an. and under, 2c; Leg- The Shortridge high school, band, | oilers, 2% In 2% Bs. ane and ov or, solored; 38u: 26¢; directed by Robert T. Shultz, played Wouters. 4 to 4 Ihe. and Rnd over colored, es yim, assistant plant Steet, Leshorns. 3 31¢; heavy breed, 23c. ana er, acted as master of cerepeEe—Current receipts, 54 Ibs. and up
large, +54 e A, small, 25¢
you saved through rigid rationing. Sort of tarows a new light on Rationing, eh? Gives us a different slant on % these sacrifices we've been miaking. Makes you feel like you were in the : Army, Aad you ee! Bor i this struggle, there cas be 00 idelinesiners. We j are ali soldiers) Ge LA . \ Now cores War Ration Book Two~—tad a new opporiaaiy fo service . 40d sactificr. Make themos of it. Study the provisions earnestly. Budget yous stamps as crefully es you do your money, ‘We must all work at Rasionlag, te & make Rationing work. Remomber, in | way you ane giving food | to ou ft dying guia Se a :
Et
‘Mayor Tyndall was among the guests which included Frank A. Ross, senior vice president for the corporation.
Commercial Shearing and Stamping Co.—Year ended Oct. 31, net} profit. $402,577 or $3.33 a common share vs. $130,321 or $1.08 previous
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