Indianapolis Times, Indianapolis, Marion County, 11 March 1943 — Page 20

ai ¥ 2,

BCAEG NDT

pe mg Tw Ww

. . i brings

as 2 per cent. ose who would be hurt

and these ceilings are based on gs. When hogs reached $16 and more as they did here, the packer is squeezed out of even the “squeal.” With a packer in such a predicament, he would do one of “several things. He might start sellLing his products i) ' to the Rack mae Bud ket. ‘Thus e Me, wm public would foot his bil), or rather the farmers’ bill Or he might fold up, as a number have done, leaving the business fo g packers. Or he might

the bi squawk (until Washington increases getail price ceilings and the public again foots the bill. At present prices, corn sells at $1 bushel but when fed to hogs und $1.50 a bushel. Mr. Wickard contends that price ceil-

f Ings discourage farmers from "increasing hog production. Are they

go unp tic that a profit like that isn} enough? I think not.

IN JANUARY AND FEBRUARY this year Indiana had a net loss of nine business concerns (employing eight or more) compared with a net gain of 104 concerns last year. In those two months last year 386 firms were founded or expanded

their working staff to eight or more

(thus coming under: the state unemployment compensation division which keeps such records). This year oy old businesses were born or that big. Business “deaths” or pping to employment below ee rn were 356 this year against

282 last year. sg 8 8 : ODDS ENDS: Sixteen corpo- - rationis-hold cone billion .dollars of © War con - {or more) each, largest of which is General Motors with 7 billion ‘and Curtiss-Wright with 4] -

billion, 600 million. . . . The WPB obtained 26 million dollars worth of war work for small concerns in In-

diana, ois, Towa and Wisconsin in Jani and February. . . . Old . and big walnut trees are being cut down to e rifle stocks; extensive

replanting! is urged. . . . Price of mules has gone up 33 per cent or more since Pearl Harbor, due to shortage of farm labor and machinery. . . . Restaurants expect rush business at end of ration periods. A

LOCAL PRODUCE

3% Ibs.

3 gee breed and 1 tader, 23%¢0; De

Broilers hee 3 Be colored and Barred

i] ve Stags—Le Wiifte 31¢; heavy breed, 22¢;

'~ eocks, 16¢.

Eggs—Cwrrent recetpts, 54 lbs. and up,

82c. Graded rade A large, 35¢: de A medium, 33c; grade A small, a

grade, 28c. Butters. 1, 50c. Butterfat—No. 1, 40¢;

» No.

ers have OPA price ceilings pve ng their wholesale prices

Farmers Would Make. Good Money on} Hogs Even With $15 Price Ceiling :

By ROGER BUDROW

FARMERS CERTAINLY WON'T GO BROKE if a $15 | a ceiling is placed on hogs. Actually they can make good] y at such levels, which no doubt accounts for the ‘a survey of what Indiana farmers intend to producef \ ear shows that hog produgtion will be 15 per gent than last year although

the government wanted

3 by such a price ceiling are the % packers, particularly the smaller packers who can’t: make up on other lines of meat the money they would lose on pork. iy

Sa %

ICC STOPS SALE

Possible ‘Saving on Taxes In. Future Is Held ‘Not Satisfactory.’

WASHINGTON, March: 11. (U. P.) ~The interstate commerce commission today refused to permit the Erie railroad to issue $14,000,000 in new 3% per cent bonds which the road had already sold privately to Morgan Stanley & Co. New York, subject to ICC approval. Erie sold the bonds to Morgan Stanley at 96. H. L. Stuart of Halsey, Stuart & Co., testified at the hearing on the application that if his firm had been permitted to bid for the issue, he and Otis & Co. together would have paid 99 for the bonds. Erie planned to sell the bonds to obtain funds to pay a $14,000,000 4 per cent collateral trust note held by the Reconstruction Finance Corp. “The evidence is in substantial agreement,” the ICC held, “that there will be some slight saving from the proposed financing, provided consideration is given fo an assumed reduction in the excess profit taxes which may be assessed on applicant's earnings for the year 1943, and the possibility of such taxes in all subsequent years is ignored. However, if applicant’s earnings subsequent to 1943 should be subject to an excess profit levy, then the asserted saving would become a loss. . . + On reflection, we are not convinced that a speculative reduction in taxes is a satisfactory basis upon which to give our approval of this security issue.”

o Avoids Issue

Erle’s transaction ' was ‘sharply criticized by the Chesapeake & Ohio railway, owner of 2 per cent of Erie’s common stock, which filed a complaint with ICC against the deal. The complaint charged that Erie had wasted money: by not selling the bonds at the highest price possible. Erie contended that if its bonds had been sold to bankers at a price so high that the bankers would have had trouble in reselling the issue to the public, the company’s credit would have been damaged. Halsey, Stuart & Co. and Ofis & Co. had filed a brief with ICC asking permission to intervene in the case. They also requested the commission to widen the issues by raising the possibility of a general ICC order being issued requiring competitive bidding for all railroad securities.

LOANS

FE The CHICAGO

| 146 E. WASHINGTON ST.

on on Everything!

Diamonds, umonds, Waiches Musical Instruments, Cameras Clothing, Shotguns, Ete.

JEWELRY CO, Ine.

IIT IA

. OHIO ST.

S EDUCATION

rs Hal Courses.

"BUSIN

“Cons Business Colle a

RE - WEAVING of MOTH HOLES_BURNT

LEON TAILORING 0.

236 Mass. Ave, 3, bs Miadie of

You Save Because We Save Men's Suits & 16” *18™ 21” 4” CASE CLOTHES 215 N. Senate Ave. Open 9 to §

GOODYEAR

Service Store Walnut _BI-1436 6 Corners Meet”

ES-IN-1 |

Naturally you neta is oy

“SATES. STUDIO |

2310 North Meridian ¢

This This Week Si FE All pk A ,

OF ERIE'S BONDS)

Above, workers tend seedbeds.

Chicagn: Alllod. Fiorisis* ‘ssaodlafion Tae-'agueclt lo cleat out ‘sinilas, pelmonss’ from geen Suse nd sales millane ot seoflioy tumives Sd miss vqofebles fot MeiRy gases

atid viher plants

5 enough vigor, .

WIE we ave. 10. 6 the Tob wé have

‘set for ourselves,’ the committee,

headed by Senator Harry 'S. Trusaid, “this year will

‘neport praised Ani¢rican production, asserting that it “cannot be equalled by our enemies,” but ‘said that in many other respects the war effort was® not: being advanced with

8 , the committee sald that agriculture had not been, but

farm workers must be exempt from the draft, the committee sald.

MONON'S PLAN IS PROTESTED

Proposed Reorganization Unlawful, Charge

Bondholders.

WASHINGTON, March 11 (U. P.). — Three protests against the proposed reorganization plan for the Chicago, Indianapolis & Louisville Railroad (Monon) were on file with the interstate commerce commission today. The protestants were the committee representing the holders of the refunding mortgage bonds, the committee representing the first, and general mortgage bondholders and, the Chase National Bank of|am New York,

tee sald the plan “is unlawful due to major violations of senior bondholders. rights and is not even acceptable to the junior bondholders

Southern Railway and the Louisville & Nashville railroad — who

agreement as set up in the plan.”

the report of an examiner suggested

hands of the trustees of the C. I & L. and that they have the right to sell 50 per cent of the shares upon execution of a . traffic agreement with the Southern and L. & N. The Southern and the L. & N. formerly controlled the railroad through stock ownership. They offered no protest against the finding that their stock had no: value, but filed a brief with the ICC last week saying that the proposed traffic agreement. was based upon receipt by them of 51 per cent of the new stock. Their brief said that they would | Pe not sign the agreement unless they

new stock as originally proposed.

PACKARD COMPANY

The Packard Manufacturing Co. manufacturers of vital plane, tank and gun parts, will be awarded the army-navy “E’ for excellence in war production at 6:30 p. m. today at the Murat temple. Approximately 1600 employees and their husbands, wives and sweethearts will, attend the banquet and

program. : Ten employees, recognized as having the most relatives in the armed forces, will receive the “E” lapel pin from Comm. Edward A. Hayes of and Homer E. CapeEs enant from Col. Fred A. McMahon, district chief of the Cincinnati ordnance district. The honor comes almost a year

The refunding mortgage commit=|Am and the proprietary railroads—the Boh have refused to sign the traffic|{zom®

ons The plan proposed to the ICC in|Som Prod that new stock be placed in the]

received 50 or 51 per cent of thei

T0 GET ‘E' TODAY|z=:

Sues fo Tune of Million Dollars|

NEW YORK, March 11 (U, P). Stockholders of the Celanese Corp, of America, filed suit for $1,000,000 today against Camille Dreyfus, president of the corpora= tion, and the board of directors. Sermour Bayer, a stockholder who sued on his own and other stockholders’ behalf, charged that the hoard authorized a’ $1,000,000 radio program to further the career: of Dreyfus’ wife, Jean Ten- : nyson, & radio singer, featured on the program.

N.Y. Soke

Net High Low °' Last Change

Allied Chom... 150% 134 188% + M|1or good to choice 200 to 225-pound-Am “Can 1 ols 76% ois seve ETS, abhi Ihe 1h 10% ty] Vealers advanced Po cents to an Am moll ai.. 13% 1a 3% 3 n $18 Wp, Receipts included 725 catAm Tob B..... 83% 53 63% + %|tle, 200 calves, 3775 ' hogs and 5 Am Water W.. 4% 4% 4% + ¥isheep. | : Anaconda .... 28% 27% 28% + % Aral sols apn sel T 2 Ho Gs am Atl Refining \. 23% 23% 23% 4 % 8:(3715) Balt & Ohi0... 6% 6% 6% .... | 130 140 pounds .......:......$13.75014.80 Steel 63Y, 62% 63% ‘4 9] 160-160 POURS \.eseeessoons. 14.50@15,40 Borden ....... 2¢ 23% 24 — Ys] 160- 180 DOUNAS .ccoseeseensss [email protected] Borg-Warner. . 30% 30% 30% + | 180- 200 POUNAS ...i.aeesessas [email protected] Bdgpt Brass .. 11% 1 11% + Ya| 200- 220 POUNAS sueessosovssss [email protected] Chrysler ...... 73 7N% 13% + % .230- 240 pounds sssessssenses [email protected] Comwlth & S8o..11-16 11-16 11-16 .... 240-1270: pounds 6008000080080 0 Dials Edison .. 18% 18% 18% ...._ | 270. '300 pounds hana 15.45 oll ..... ox st ogy TX 2] 300-3 mii Ba00isse Curtiss-Wr A .. 23% 328% 28% aoe. | 330-360 DOUNAS coseacossaress 15:[email protected] Dome Mines .. 19 - 19 18 .... |Medium— as Airc... 63 rd 63 — "1,] 160- 220 pounds ..ecececeses + [email protected] Du Pont .....:143% 143 143% “ Bast. Rods. o.A%3 181% 133° + %)| coed to Woke Sows. dl Edison Br 14 14- 14 — 1}CG0 ¢ Gen Electric... 34% 36% 34% + | 270- 300 pounds wsi...ice ec. 15:[email protected] ‘Gen Motors .. 48% 48 48% + Z| 300- 330 Dats etincasseiass [email protected] C eh ..... 32 30 32 4+ 18] 360- 400 pounds .ccesemcsess = 15008)5.30 C CAL sa. 30% 29% Eo 1 400- 450 pounds sesobosssssaen 14, 95@ 15 Hua y M & 825 25% ne + %! good— ms i Motel oo. 1 He Bh He T 14] 400- 450 pounds ....ceus. enor) 14T5@18T5 Cer.oc. Bae Be MY + | 450- 550 pounds ...cecceeen.. [email protected] acesit 33% 31% 82% + %|Medium— Ereite Si 3. a un; +4 % |} 150- 250 POUNAS crcesnensnses [email protected] LO Glass 1. 30% 34% 34% Wl... Slaushter Figs i, Link Belt ...... 31 - 38% 36% — |Medium and goo [email protected] Nash-Ke Iv gn ani 2. rd AI Pounds ...occovenase hb a oc 8 ek 18% 1-16 : TTLE Nat Cash Reg.. Ie aa ia. CA (25) NT im 0 35 Chole. ses ‘4 4 ssvsssscence OBIO Ol ..evvvs Sia 18% 18% + Yl oon-1i0e pounds 2iieseee 100001000 Packard ....... 4 3% 4. + %|1100-1300 cessssees ss [email protected] Fan A Airways 27% 27% 27% + Ya 1300-1500 pounds eeescsscsose [email protected] nn RR ....e 0% 29% 29% + %|gooa— : Procter & G.... 84% 54Ys 64% 4 % : Pullman ...... 33% 33% 33% +1 700- 900 pounds _sesessssssss 1340 16.00 Pure Oil ...... . 14, 18%: 14% + % 1300-1100 hounds sssnceossess 18 4 Reo Mot vte.. 9 7% T% ies 1300-1500 ] as esecsvseasesn 00 1850 Sears Roebck . 64Ya + pou se es0 9000000 15. Bervel Ins ... 14% 1 fk a # Medium--So Por R Sug 22 22 esses 700-1100 pounds’ 000000000000 14.00 15.00 South Ry pt. 4 0h 40 .... 11100-1300 POURAS .csevcceces. [email protected] Studebaker ... 10 9% 10 4+ %|common— Sun Oil ..... 80 60 %0_.... | 700-1100 pounds ...... cesese [email protected] Be 5 5% 5 5% + %l Holfers gr X $e Gn I i 600-.800 pounds .. 18 7s) un 4 Aire fil al 100% 100% 860-1000 - POUNAS +s0esvses ses 18.35 SRT 20% Ya > Good— Wosting EL. 8% B02 7. %| 000-500 pounds ....esseeees 145001835 ‘Woolworth eels 34 34 3% ¥ 4] 800-1100 pounds .essessssses 15.25 ¥ Shei ran ue di T oajMethme be | Toung Shes ME . 24 Ry oe I i $00- 900 pounds veesesessese 13.00Q14.50 ;

a New York || stock quotations are car-

Ann nnd]

ried daily in the final edi- esse '. tall welghts) 7 tion of The Times. pect. (Eesriitgs Erclnded) 2 . » , Good 800000000000 0000000000 [email protected] 4 - LOCAL ISSUES. ‘Good (al welehta) asus He Nom?hal quotations ations furnished by Cutter and ‘common Hea : unit of National Association of : 4 Corp Big Asked : : CALVES (200) Crk Agents com obidedly | ose WVealers (all 8 weight Seg pivots Tin Son DId cteveeen2 ib [Good to choles... . civiienes fis iH Belt RR SB Yds ds 8% fd. ssees FH ‘een Commond and see “ree Bobbs-Merrlll Som 5% Prd. Sedes a 32s Cull (75 lbs, UP) eevsansncnsons 3 IIa hid eral } Foster & Stokes a" Comwith losn 5% ptd ...... 8 y

asses ene ten

» & LO ert Sh com ore 8° sere 8 :

Cove 8

sesese § 1% pid ieee. Dis nese . PIE 4oveed ! Bs . ofa. seese $6 - sesenes 5 Ee ses s00e

5 i

eee vee

4%s ol wena

y : ol : : 60 ses o Iii ndpie © Sob i : > Shp.

PRICES ON HOGS

REBOUND HERE Top Rises to $15.50 After - Severd Slump Caused

By Ceiling Talk.

Hog prices rebounded at the: Tndianapolis stockyards today, following yesterday’s severe slump caused by the report that a $15 ceiling would be ordered by ‘the government. ' Today's prices were 10 A higher than early ones paid yesterday or 25 cents higher than later bulk

Common—

Cows (all weights)

Sesscse skeustasess sesso 11.75@12 Medium seats essnn 11.00 in Cutter and COMMON. ..sus.0sss [email protected] Canner :

: Heanssssnse: a seesntenes sey

' 500-800 800-1050 Good—

0 Bamme

se0sses) cotps 0998000988 "00.

800-900 pounds sesnsveaenae mois

0.800, Gutter rasesiaiee . nga : " Dvnde don. vashs tiga) mein Ef Onlves (haiteny),

ot ms GOWR .oocepinene usovuon] :

500 "500 pounds Gown esther + 110001300 :

sales. ‘The top returned to $15.50],

recently inaugurated a new system for deferring agricultural labor. - It authorized agricultural county war ‘boards. to authorize the deferment of farm workers. The war production board has authorized production ‘of some. adaitional farm machinery.

Hits Sugar Policy

‘The committee said the potential food shortage was one of the most acute problems facing the country.

It said that American housewives

would become soldiers on the food front by increased home canning this summer if they are not hampered by unnecessary red tape in geiiting extra sugar. “The report said that if the OPA had made canning sugar available soon enough and in sufficient quantity, point rationing of canned fcods msy not have beer so drastic. Other recommerids*ions and criticism:

America produced 8,080,800 dead-

weight tons of merchant shipping last year and aniicipated tonnage this year is 18,000,000 tons. But production of merchant ships is not

‘isufficient. The navy must build—

and build fagi—many escort vessels of simplified ‘design and with sacrifice of “spit and polish” to combat enemy submarines, The army must streamline its arlcraft specifications if it realizes maximum plane production,

Praises Wilson

Tliere must be a co-ordinated effort not only to allocate fairly the gcarce materials in sll war indusiry but to organize tlie production of these competing srticles. Install-

20/ing of Charles E. ‘Wilson as execu-

tive vice chairman of the WPB to do this was praised. : ‘Absenteeism must be reduced and production per man must be increased through stimulating profess sional pride and incentive payments for workmanship ‘the chief source

must be, recognized as a necessary|c ~lwar industry. ‘Mcre farm machin{ery must be made available, and

subsidies were being used to develop. improved products and, to: reduce

Other Fields Sugsosien: : -. Other fields in which this type of joint enterprise could be used for new operating units are urban. redevelopment, housing, transport terminal reorganization, air transport, communications and electric

The war manpower commission|costs.”

| power.

“In order: to oqtip’ | these mixed corporations with adequate authority to carry out development programs, government might give them special rights, such as the authority to use the power of eminent domain fo acquire necessary properties. Such: a set-up might facilitate the assembly of properties for reorganization and more efficient operation. “Another sphere of action for these joint efforts might be the control for the government of certain patents and properties seized (from enemy aliens, and of domestic patents of basic necessity in the production of raw materials. In this latter instance the corporation might choose to operate the properties directly or license them to private operators.” The board suggested that a “variety of arrangements” were possible. . The government’s proportionate investment in the corporation might be so great that the corporation would be operated essentially as a public enterprise, or if private stockholders owned a ma~ jority interest, the government might be concerned only with maters of public policy.

DAILY PRICE INDEX

NEW YORK, March 11 (U. P)— Dun & Bradstreet’s daily weighted price index of 30 basic commodities, compiled for United Press (1930-32 gverage equals -100) Vesterday ...oecesseeccc.nes 171.73 Week AZ0 ...cocscessicccass 171.89 Month Ago 2000800008 es0000e 169.37 Vear Ago

WASHINGTON, March 1 1 0.2) salon sworn .

vipbene 155.79 red

‘WASHINGTON, March 1n 1 U.P. >

~The nations] resources planning : 1| board’s post-war report recom-

mended broad “valley development”

similar to the government's TVA

lin many areas and said that esti-

mates of the total investment .

the nation’s water resources: Tange up to $50,000,000,000,

terest these “outstanding proposals” for water resource control ang de~ velopment: 1. ‘St. Lawrence waterway. “Any project of this magnitude and regional extent must cause changes in ‘the social and economic condi-

ence. As plans are perfected to.

benefits, the project will open way 1 significant regional deyelopment.” | 2. Arkansas Valley. prising the watersheds of the Are kansas, Red and White rivers, “The cost of the entire program would exceed '$2,000,000,000 and still: would not represent the amount res. quired for full development. i. . Soil erosion is severe . . . and. it is estimated that more than 1,000,

required to accomplish conservation and run-off retardation measures.”

Ohio Experience Cited 3. Pacific. northwest. “The cons. templated ultimate hydro-electric

Columbia - river dams aggregate nearly: 3,000,000 kilowatts. The po-: tentialities of the Pacific northwest region may be nearly 15 times that amount.” Nearly one-quarter of ths nation’s land susceptible to reclamation through irrigation lies in this area. « The report cited . the following

situations which have resulted from unco-ordinated water development”: 1. Ohio River valley--Canalization of the Ohio river caused substantial increase in discharges of polluting acids from industrial and ‘mining. processes. | “Such adverse complica~ tions could have been reduced or eliminated if the national policy had provided federal and state agencies with authority to take steps toward remedial measures.”

of increased produstivity must come|1043 High (March 8). ........172.05No. 3 white oats Fi, do 3 red oats so] from efficiency.” 1043 Low (Jan. 2).......c... 18681|3% Sor 3 white corn, BLOL To

500- 90 benade csesnscosess. Wi :

"soo-1000 pounds stitattnsnses

necessary to develop and: control

It ‘singled ‘out 8s of special in-

tions within the area of. its influ-

produce - the maximum national the -

000 man-years of labor would be

installations at the three existing

areas as “noteworthy examples of