Indianapolis Times, Indianapolis, Marion County, 14 April 1943 — Page 23

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REG

- ry at

" Ruml told the committee members

ury; the tax program, and, possibly,

WASHINGTON, April 14 (U. P.).—Governmenf expenses and receipts for the Neurrent year through April 12 com-

pared with & year ago:

Gold reserve

—-By ROGER BUDROW

{ P.] Re MALLORY & CO. but to employees, custoniers

Yesterday T'was irked because tho local water company put

out. only a meager four-page were. statement.

Mallory’ Ss repost is a S0.0age affair which omits only a

fei facts that the office of

"I think the foreword is worth reprinting.

RUML ATTACKS FISCAL AL POLICY

Author of Piva Pay-as-You- oi Tax Plan Criticizes U. S. Monetary Planning.

NEW, YORK, April 14 (U. P).—, Beardsley Ruml, author -of the pay-as-you-go tax plan, today criticized the government's: lack of a definite fiscal policy which he held essential for/ the post-war effort to bolstér employment, Speaking ‘before the committee . fori” economic °developmeni, here,

that “it would*be folly fo expect that business .can make’the transition from full wagz-tirhe employment to -high peace-time employment without co-operation from public government at every level.” He listed the principal causes for what he termed inadequacy of the present. federal -government’s - fiscal and. monetary icy and said ways must be found to eliminate them if the post-war employment problem is to be solved. “The first. change that ‘needs to be made,” ‘Runmil said, “is the organflation of the administrative branch of the federal government. The administration of any fiscal policy at all calls for co-operation ameng agencies and for. singleness of policy in at least several respects: the federal budget; lending policy at home and abroad; the’ credit and monetary policies under the jurisdiction of the federal reserve system; the creation and refunding of federal debt, which is now managed by the treas-

the activities of the securities ang exchange commission. 2

U. 8. STATEMENT

Last

This Year ar .$57,663,302, 704 $21, ri 579

Expenses War spending 53,100,165 16,502,259,193 ts ve 381 ,843 383 © 9,357,754,183 Net eit ©. 42,377,998, 12,116,768,326 Cash “balance 2,513,924,407 2,937,307,951 Wi b 1,751,301,03 2,176,343,114 Pu debt , 130.384 43, ,625,013, . 22,501,079,885 22,675,661,421

INDIANAPOLIS CLEARING HOUSE

Lk Usaraty In Business Outlined : : Mallory Cos Annual Report a

r report, which has just come out, not only to its stockholders

en up by the ‘balance sheet and income

3 OUGHT TO SEND ts annual and interested outsiders also.

annual report, three pages of

censorship might object to. ¥ “In England the annual’ meeting of shareholders of a public company| customarily is -an important event. Large numbers of shareholders at-| tend. To: them the chairman makes a lengthy ‘accounting of the stewardship of the management, Ample time is allotted for questions and * discussions and it is a rare otcasion when many share.

Marching six abreast, a covey of rough-turned 155 mm. shells marches into an oven at the Willys The oven is fired to 1540 degrees fahrenheit. This is one of the

Overland plant in Toledo, O.-

the federal|

holders participate. “Subsequently, a

“Mr. BSudrow

proceedings is inserted as a paid ad-" vertisement in the newspapers. “In the United States an annual meeting of stockholders invaziably shrivels into perfunctory fulfilment of a legal routine. Outside of management, few, if any, attend, and the proceedings are devoid. of interest. Where management has endeavored to emulaté the English custom and attract attendance, the attempt usually has failed for a variety of reasons, chief of which may be lack of a central point for convenient attendance. “Under. these circumstances, an American corporation’s printed annual report assumes greater significance as the only means of a formal accounting of stewardship from management and directors. “It is our opinion that the annual report, should deal comprehensively with the policies of the je ment as well as all aspects of the company’s thusiness.” ® » »

FURTHER ON in Mallory’s report this very democratic business policy is stated: “No longer is the philosophy tenable that managerial responsibility is to the stockholder alone. + + « Not only the stockholder but the employee, the customer and othe public welfare have an interest in managerial capacity and it behooves management to study carefully its responsibilities to that interest, » ” AND AGAIN: “The profit incentive is common to - all—stockholder, employer, employee and customer alike—it cannot be maintained steadily unless it applies to all. Technological prog-

140| ress is ‘an inevitable concomitant of

the coming years, Management's responsibility for profit from such

1: 042,000 progress includes the maintenance

TTI on RELY

Pe Nn DAY, NIGHT or SUNDAY

4 out of 5 MORRIS PLAN Loans Made Without Endorsers ® Borrow on Character. Au Aue or Furniture -— from'$7 5 to $500 to $1,000. @ Take 6 weeks to os. first poyment. ® Many loans completed while you wait. ® No credit inquiries of friends or relatives * FREE PARKING across the street in Arcade Garage for auto appraisal. Phone MA 4455—Ask for Mr. Coots

of sound human foundations no less than the, purchase of adequate machinery and proper inventories. “This concept is not altogether new. But it must crystalize if in-

| dustrial management is to make the

‘most of war-born opportunity for renewed community ‘leadership. Acceptance of a social responsibility must be part and parcel of postwar planning that embraces new products, new methods, new wants and new markets.” ” nn =; THOSE BELIEFS of Mallory officials may strike some of the ultraconservative businessmen as mighty advanced thinking—but isn't it the .company - that thinks in the future the company which is usually still in business when the’ future ar-

Morris Plan

WASHINGTON rives? CROSSWORD PUZZLE : ' HORIZONTAL Answer to Tr Abd 20 Bone ‘1 Pictured U. 8. [AIUIGIVU[SITIEL 23 Either re the IRIEIN[T[S] CARIBE 25 Myself TEancer [FRMEIDEMMEIACIEISHIT] 27 That ope EEL FIAIRIE EME BS] 29 Mother 81t is one of OED 3 30 Insect the fastest J 31 Fish ; z oJ 32 Enemy 13 Anger’ © 7] 38 Tally 14 Abounding 35 Sailor . 15 Music note i] 36 Finish (16 Hail! 38 English . 117 Drink slowly author 18 Within 40 Net : ‘19 Observe * eo 43 Court (abbr.) 21 Still © 46 Tantalum the best «45 Paid notice 22 Ells English (symbol) planes * 47 Play part of -(abbr.) 47 Occasions 72 These planes host 23 Sign 51 South Dakota are also 48 Tavern 24 Plant part (abbr.) known as 49 East Indies 26 Rupees 52 Toward VERTICAL (abbr.) (abbr.) 54 Give warning 1 Get up 50 Insect’s bite 27 Symbol for 58 Irritation 2 Great Lake 852 Soff mineral iridium 58 French article 3 Vitality . $3 Oil (comb. 28 Print measure 60 Altitude 4 Edge form) 30 Skill (abbr.) 5 Row 55 Space 34 Dined 62 Nevada city 6 Provided 57 Current 37 Sodium 64 Indian army 7 Celsius money (symbol) (abbr.) (abbr.) 58 Prevaricator 38 Therefore 65 Atmosphere 8 Scheme 59 Sins 39 Part of “be” 66 Meadow 9 Body of water 61 Beret 41 Any 67 Each (abbr.) 10 No 63 Removed Goddess of 68 Blowers 11 Always i685 High card fortune “70 Vehicle 12 Matched 69 Three-toed 44 Whiskers _T711t is one of pieces «( pl.) sloth ; Bn BR IH 1 1 : Fh TT 8 : wl 0 a 3 - T} Wo | 2 | £3 2 2 2. Re : ! 127 | . 28 [29 Cy = | Is [er Br Low” on" “

do: not

full record of the

tions in shell production.

"Profits of P. R. Mallory &

company reported : today. Net income ‘was $530,663 after

The $68 million—increase in sales income was more than offset by a $5% million increase in expenses and a’ $693,500 increase in federal taxes. By renegotiating its contracts, the war department recaptured $1,100,000 in Mallory profits last year. Other highlights from the report: The company itself paid for increases in plant facilities last year. The old Ford Motor Co. building on E, Washington st, now Mallory’s plant 2, was fully occupied. Previ-

‘| ously, after buying the plant in late

1941, Ford had leased back the first floor but when Mallory needed the space last November, the lease was abrogated and Malory used all the building, - Defense Plant Corp. the government financing agency, paid $998,230 for machine tools Mallory needed to make bearings under the Mallosil process and “a large increase be-

sideration.” The company has an option to buy this machinery after

yond this amount is under con-|

Mallory Sales Iniradse 48 %. Profits Drop $300,000 in '42

Co., Indianapolis manufacturer of

electronic and metallurgical products, fell almost $300,000 last year although sales, mostly for war purposes, incremsed 48 per cent,

the

making a provision” of $212,500 for

post-war contingencies, compared with $847,038 net income in 1941,

CORN PRICES RISE T0 OPA CEILINGS

‘CHICAGO, April 14 (U. P.).—Corn futures rose to the new OPA ceilings on: the board of trade today. Other grains weakened. At the end of the first hour corn was unchanged to up 3% cents a bushel, wheat off % to %, oats off % to %, and rye off % to %. In the May options corn rose 3% cents from the previous 101, wheat

off % to 3% from 143%-%, oats off % to % from 63%-%, and rye off % to % from. 84%-%.

Brisk trading took place in the corn pit at, and a fraction below,

for all deliveries but December,

N.'Y. Stocks

Net Low Last Change | Med

the war. : _ High Materials Hard to Get |AISE Shim isase 1s4r: 1s x v Allis-Chal 34% 33% 34% - % Judging by results in the first 4tgr Con 3’ Wa A . wa x 3. Am Roll 13 13% 13% .... cowdbinigeigibai imi 5 geal JE BRC production. w substantially Am el EW. To The. om Tw larger then last year. Anaconda 20% 28% 2 + % Armour Ill 8% 8 5%. + Y In January, 1941, 32 per cent of Atchison A R a “+ Mallory’s employees Were women; |Balt & OMe... 8% 8%. 8% + Ly by_this January 50 per cent were Beth Bt Lows. 13 5. oii aml women and now. it ranges between Bordon et: 3% nu oa x “8 60 and 65 per cent. Boast Brass ... 11% 11% 11% + % “Material procurement has been Gonmith ito. Ty JB 8B, +15 the chief limiting factor in prevent-| Sons Edison .. 04 13s 12% Tx ing volume from reaching consid-| Corn Prod!’ 8814 $8 ssh + eran Tiger oven proquent Sot Mie 3% Hp HE I changes in WPB regulations cover- Rost Kodak .. An 1% 15 + ing priorities for ‘critical materials| Gen Biectric... 38% 34% 38 - % remained a majority problem) Gea Als pf. 13%, 18 2 1 throughout the year.” Coo Ye 33% MV +1 In. Tobruary this year the oom Mints 4 HE HE Ll Earouet, s ~V loan to bolster work: fi B68 1. 4 At 8 © «| INF TEL ..... £3 ing capil. lh ME 8 1d Light Metals, Tnc.; in which Mal-| Kresge 88 "1 3% aan zu ik lory holds: a controling interest, Link * 2 os and Capitol roadensting Co., Inc. Nash.elv 3 2 i) + i (Station WISH), in which it holds Nat Gash 1% 3% 3% = ¥ a minority interest, reported profit-|N* 14d able operations for 1943, Onlo ps i iolk ie ¥ % The British affiliate, Mallory pan-am Airwys 30 29% 29% + % Metallurgical Products, Inc., made Pen 3 R Fr Hs = 20% + % progress “inspite of great handi-| pullman. ...u. 2% 2% 1 % caps,” but no part of its profits can|Fure ofl ....v. 18% 18 18% + : be Svallshle for the Sueation. Sears Rothuck 1k eT 87% + x local ‘ company, which won| S*R0 PG. 28" 3%” BC I ¥ the navy “E” in 1941, was awarded|So Ry pf ... 46% 43% 4% 1 % the army-navy “E” and since has|Siidefaxer ... “0% = 10H ° 10% + 2 cessase 4 a. been awarded two stars for the|Sunshine M .. 6% 41s 6% + pennant, Swift Intl .... 33 © 33% 33 + Ya ant. Texas CO ...., 48 41% 48 - % Timk R B .... 45% 48% 48% + % Eros a KILLS WOLF WITH Vesting El eae n » 90% 3:3 AUTO, GETS BOUNTY Fats: i i, i. AVA, Mo. (U. P).—As long as his! soni Bed. 315 dre ave Tul ges ration holds out, Weldon| ame : : Thompson should have no trouble Complete : New ‘York with the wolves that ~essasionally tock quotati ‘ « roam the area. : quota ONs.are car- . Driving home one night recently,| | Tied daily in the final edihe ‘spied a full-grown animal on| | tion of The Times. the road and promptly ran-it down : with his car. The county court . . WAGON WHEAT paid him the usual tounty in spite WI the a the Chicago ar of his unorthodox ammunition. indianapats fou grain This is not recommended as anj Se Siavetors a” fotner 2 SHR excuse to ask your ration board for Ee mn hits oats Fie, and No. 2 red oats, more gasoline. Bushel, and No, 3 white snelled son: $17¢ FUNNY BUSINESS :

the new OPA level of $1.05 a bushel

opera-

MARKET STEADY AT STOCKYARDS

Hog Prices Remain Firm; 210-Pound Porkers Bring Top of $15.

‘The hog market was steady at the Imdianapolis stockyards today, the food distribution administration reported. The top on weights up to 210 pounds was $15. Porkers weighing over 210 pounds brought 5 cents more. Regeipis included 6175 hogs, 1000 cattle, 607 calves es ang 425 sheep.

HOGS (6 (6175)

160- 220 pounds Packing Sows Good to choice—

crsemesetesan

270- 300 pounds ............. 14. 0a. 65 800- 330 pounds ............. 14.60 330- 360 pounds aehanatvasess 14.60 i" 65 360- 400 pounds ....... . [email protected] Good— 400- 450 pounds ....,qce000:. [email protected] a0. 3% 550 pounds ............. [email protected] 250- 850 pounds ............. 13.00014.00 Slaughter Pigs Medium and Sood. 90- 120 pounds ............. [email protected] Helin (1000) Steers ; Coo. 900 d 16 6 .100- POURAS +:voneses.e. 00@16. 900-1100 pounds ........e... on 1100-1300 pounds ......c.oe.. [email protected] Gooi pounds ......... vee 18@1738 700 pound, 15. 3 6.50 j- nas . RIL 900-1100 ‘pounds a I Ios 1100-1300 pounds ........ ves. 15.25 16.50 130g 1008 pounds ...... evess. [email protected] 700-1100 RAS sevnssocenss 4. y a. Po PLR Tp PE 14.00 153 0 700-1100 pounds Yess rwintnny [email protected] Heifers Choice— ; 600-800 pounds ............ 5.00@ 15.50 800-1000 pounds ............ 16.00 15.50 Good— 600- 800 pounds ..i......... 14.78@ 15.50 800-1100 pounds ............. [email protected] Medium—~ : 500- 900 pounds veses . [email protected] Common— 4 $00- 800 pounds ............ [email protected] Cows (all weights) Bere nnnss sasha inns [email protected] Medium .................0.... 11 00 12.50 Cutter and commen ....... A. [email protected] CRONE... ris. rsinvion.s 86 9.28

(Yearlings Excluded)

Beef— GOO nant iinii ie, es00pee 14.235@ 14.75 Sausage— Good Lan weights) . +14 00@ 14.50 Stieber renin [email protected] Chm and common ........ [email protected] CALVES (600) Vealers (all weights) Good to ehole azaweianse eae Common and medium .:is, itd 10.50 Cull (75 Ibs. up) ............. [email protected] Feeder and Stocker Cattle ani Calves Steers Choice - 500- 800 ‘pounds’ .,.......... 14.50 800-1060 pounds ar sent Nein Good— 500- 800. po sessnnessess 18.50 800-1050 ' poun visesnas 1335014: 4.35 Medium— 500-1000 pounds ............ [email protected] Common - 800- 900 pounds ............ [email protected] es (steers Good and Choic ? 800 pounds down ........... [email protected] Medjum—- : 8500 pounds down .......... 13.00914.50 ves (heifers) and Choice— > pounds down asa 14.00015,00 Medium 500 pounds down ... . 12.50914.00 SREEP ‘AND LAMBS (425) . Ewes (shorm) Good and choice. ............ 1.50@ 9.00 Co d choice ......... 6.00@ 7.50. Lambs Good to choice ................ 8 Medium and good ............ 14,25@ 15. Gammon"... oS [email protected] ‘ Lambs’ (Shorn) Good and choice ............. [email protected] Medium and good ............ 13.00@14. Common... ......:.coourn see 12, Fans

TEXACO IN- SERVICES

More. than 4000 of thie 26,000 emCo. and sub-

0! defective munitions or

4.65] elers has been small,

4000 EMPLOYEES OF| 5:

and ‘| Fryets

HAS BEEN ADDED

$25 Million Recovered by Trapping War Frauds ‘While They're Hot.’

By FRANCIS BIDDLE

General of the U, 8. WFIieH for the United Press)

WASHINGTON, April 14.—Historically speaking, there is nothing new about war frauds, but in this

| war something new has been added.

The urge to cheat, to profiteer; to fatten on the patriotism of others, is as old as the profit motive, possibly as old as war itself. Certainly it is a matter of record that fraud-

every war we have ever fought, right down to the present time. No, there is nothing new about war fraud. But in this war something new has been added—prompt and just retribution in the form of punisknient now. Oddly enough, this is. an entirely new approach to the problem of war fraud. It was not until four years after the fighting ended in 1918 that the department of justice set up a “war transactions section” to comb through more than 30,000 wartime ordnance contracts in the hope of recovering overpayments. It was a thankless, and almost fruitless, job. All, the contracts were marked closed; witnesses and evidence were missing, and both the cases and the public were “cold.” Only about $11,000,000 was recovered, and the section wound up its task with but one conviction.

Actual Number Small

This time; however, things are being done differently. Back in Fehruary, 1942, just a few months after

justice, composed of carefully selected and trained personnel equipped to prosecute war frauds as they were unearthed, not after the war was over. Their orders were to take prompt action wherever fraud was found and no matter who or what might be involved-—collu-sion, cost padding, kickback, graft,

palming-off on our armed forces of articles of war, Fortunately, there hds not been much of this sort of thing. Considering the nation’s enormous wartime production and the billions

.| being poured into the program, the

actual number of cheaters and chisAt the same time, the results of this “get them now” policy has been gratifying proof of its efficacy. Indictments have already been secured against nearly 200 individuals and more than 35 companies and corporations. A total of approximately $120,000 in fines and 35 years in prison sentences has been meted out in 16 convictions obtained to date. This represents about 15 per cent of the cases now awaiting trial. ‘Equally significant, approximately $25,000,000 has already been recovered on contracts investigated by the war frauds unit. There is no way of estimating the indirect results of this policy—the money saved the government and the taxpayers through the renegotiation of contracts not under investigation by the department of justice.

Publicity Helps

But vigorous prosecution of fraud and renegotiation to recover unconscionable but legal profits are not the only effective methods of curbing wartime profiteering. Substantial benefits may be obtained, it seems to me, first by -applying the bright spotlight of publicity to instances of gross irregularity, whether actually fraudulent or not, and secondly by the .application of severe penalties under law where fraud has been proved. A very real contribution to the work of the department has already been made and is still being made by the senate committee investigating the national defense program, under Chairman Harry 8. Truman. Tkis committee and others in the house and senate investigating various phases of the war program

.50| are performing a signal service to

the American people and are materially assisting the department to seek out and punish war frauds.

Favors Hobbs Bill

As for the imposition severe penalties on war contract cheaters and frauds, an effective proposal has already been advanced by Con-

gressman Hobbs of Alabama in H. R. 2103. This would expand existing sabotage tion fo include

the willful manufacture or repair and the sale or transfer to the United States and its allies of defectivé material of war, It provides

0 penalties up to imprisonment for 30

years and a fine of $10,000. This bill also provides that the

00 intentional manufacture of sub-

standard or defective material of war, so that its use would endanger the lives or safety of men in the ed forces, may be punished by Imprisonment of death and a fine of $1,000,000 I ain in favor ‘of ‘some law of this type, but as wartime legislation only, since the subject matter of Mr. Hobbs’ bill is covered neither by

‘| existing legislation nor by the pend

ing war security act. LOCAL PRODUCE name 3% 28%s Leghorns, unde 3 be. golored and Barred,

y To RE 1¢; heavy

ulent transactions have entered -

bribery, and the most reprehensible 8 140/of all war fraud, the deliberate

*In Pearl Harbor, I established a war Ind frauds unit in the department of |;

Rie Trac Term rp U. 8. Machine Corp. 5s 52

A hk #

‘ Charles F. Kettering

About 800 business an

trial executives have made reservations for the dinner meeting in the Claypool hotel Friday night: at which Charles F, Kettering, vice president of General Motors and inventor and. research scientist, will Mr. Kettering is. expected to discuss post-war problems of busi-, ness and industry. The meeting is sponsored by the Indianapolis Chamber of Commerce and the Indianapolis

Sales Executive Council.

A. Kuhn, C. of C. president, will preside and Governor Schricker will introduce the spesker,

LOCAL ISSUES

quota furnished by Indi. anapolis securities dealers. Pid Agents Fin Corp com .....s.. “7%... Agents Fin Corp pid ......... 20 via Belt R Stk Yds com .....e0000 42 46 Belt R Stk Yds 6% pid ..... 52 ‘ee Bobbs-Merrill com ... ....a0.. Tie: ves Bobbs-Merrill, 4%2% pfd ...... 40 ese Circle Theater com ......... 2 32 Comwlth Loan 5% pid ..... 27 100 Hook Drug CO COME + vwissvinzsn 13 15 Home T&T Ft Wayne 1% pid. B0% ... d A Tel 8% ip 98 102 Ind & Mich 1% ? 4 Jarvis 107 e's Hydro Elec 7% ..vcvvviee 3% 4% nd Gen Serv 6% .....e.. ss. 103 re Judpls P&L 84% sreenane 102 105 Indpls P & L cOm .......... 14 15% Inds Rlwys, Erg COM wvesve- 14% 16 Indpls Water pf ......cco0uues +188 109 Indpls Water Class A com,.. 15% 16 Lincoln Loan Co ba pia KAR 83 93 Lincoln Nat Lifq Ins com..... 3 34 N Ind Pub Serv 305 pi pid .. 8 23 N Ind Pub Serv 6% .......... 923 97 N Ind Pub Serv 7% pid 102% A08% PR Mallory com ......cooi00 168% Progr: La COM. ...ev0 « 12% \ 14% Pub Serv of Ind 5% pf «0 , Pub Serv of Ind COM... cove. 14 *So Ind G&E 48 pid ....... 91 tokely Bros pr pfe ....... oo 18% United Tel 8% eceinnee 2s Union Title COM ....ce0000000 24 Van Camp Milk PIA .....e0000 66% Van Camp COM +cusvnes 12 Bonds Algers Wins'w W RR 4%%... 99 American Loan of 3 ssesnsase 96 Cent Now Loan § pied asi seen 3 Cen wana er s 42- . Ch of "Bld es 4% vas bi. 78 Citisens Tn ern 103 Consol Fin a savas D4 Ind Aso Tel Co i Jo reenes 105 Indpls P &. L 3%8 70.....00. 105% Indpls Railways Go be 67 .... 1M Indpls Water Co 3%s 68 ....106% Kokomo Water Works bs 8. 104% Kuhner Packing Co as 49 ... 98 Morris 5&10 Stores . 98 Muncle Water Works Ly 66 ...104% N.Ind ub Serv 3%s 60....... 108 N Ind Tel 4%8 86............. 76

4Y%s Pub Serv a Ra 48°80... .00000 ub Tel 46s 686 ............... hmond Water Wks 5s 87...

*Ex-dividend.

WARNS OF REPORT DEADLINE Truck fleet operators are reminded by George F. Burnett, Indianapolis district manager of the ODT, that quarterly reports of operations for the months of January, February and March must be filed at the district ODT by May 1.

ALLEY OOP

d indus-

George

“GETS Wh WR

Research... T Diregtor Public Will Demand *N v . Post-War Car. | - DETROIT, Apri) 14 (U. P).~TI automotive ~ industry received

blunt. warning today. that an educated public will demand an eds

E | tirely new car after the wab

will not permit manufactures

1ahead with plans to pene | modified 1942 model. 3

Dr. Gustav Eglofl, director of search for the Universal Oil Pi ucts Co., Chicago, challenged | industry’s announced intention i the declaration that “the AULOIo= bile public will demand a new €ar, not a ‘dressed up’ 1042 model,” af the 105th meeting of the American Chemical society. Bglof's prediction contradicted the belief expressed last Friday by Alfred P. Sloan Jr., board of General Motors Corp., that ° immediate post-war’ car would nothing like the “dream” model en= visioned by some designers, but would be similar to 1942 models. A He said that “a quarter of a cele tury of development has been ace complished in three years” under the stress of wartime needs and that the buying public “rapidly is learning of the many new construction materials which will be available for their cars.” He predicted that body designs will inaugurate magnesium and aluminum alloys, new. steels, ply woods, plastics of many types and anti-glare windows made of glass containing no silica. Transparent supporting posts will be used which do not obstruct or distort vision, he = sald, and visibility will be complete from any position in the. car. oi i)

Williams Oil-O-Matic Heating

Corp. year ended Oct, 31 net profit

% ($566,115 or $1.31 a share vs. loss of

$58,132 previous year. Investment Study Faye

Some of the more e important fas iacuscoveting Sing the Rayon Indus memorandum which is avails able on request at this office, |

THOMSON a McKINN oN BROKERS

ed in a current

S East Market St, Tndissepol Indiana

ELL, ELBERT, X SEE YOUVE

—By H. I. Hamlin: IT SEEMS HIS I SIMPLY

a #

CoE YOULL LAY OFF ~~ LMM HITLER WAS THE VIOLENCE AND ZL DIDNT Te Brat on STICK TO SCIENCE. ( JUST HEAR _ \ THE MEAT | WAS OOP SAY HED | SHORTAGE (2a) GIVEN UP TRY- / RATHER EH? Je Jf h: ING TO GET \THAN |. : INTO THE ARMYL WAR Jit 7 < ® gy 7 3 ¥ 2 iy: ig ; WELL, O0R I'M SORRY... § THAT TAKE IT 4 YOU'RE PRE Hh SEEMS | A D TO RE JO RETURK TO NOPE wy 4 T) A: DURATION 27 ! WM yy 3 > 3 $ ’ A » B Ng 7 ATR 4

ETL

YAN AMERICAN,

EUGENE ELY,

MADE THE FIRST

AND THE FIRST IN 121,

(| ant |] PPL Le wo0

or ve —

———