Indianapolis Times, Indianapolis, Marion County, 2 June 1943 — Page 19
USINESS
rerio Indiana Farm Worth $103
An Acre, 17% More Than a Year Ago
— ROGER BUDROW FARM LAND IN INDIANA IS WORTH $103 an acre
on the average now, against"
$83 per acre normally. -This
|. is shown in an opinion poll made of country bankers by the Federal Reserve bank of Chicago. The rise in farm prices has been greater in this state
than in Illinois, Iowa, Michigan or Wisconsin. The biggest|.
increase is up in the northwestern corner where Chicago businessmen have been buying farms as inflation hedges, but it ranges down into the good farm land around here.
In the last’ year Indidna farms have gone up as much as 21 per oént (average is 17 per cent), but most of that was late last year, the bank found. Bankers often say that in times of inflation it is the poorer land that gets overvalued the most, but it doesn’t seem to be true this time.
The bank says that some of the | : increase in land : prices is infla- ( Mr, Budrow tionary and much ove the level which sober judgment would indicate, based upon long-time’ earning power of the land. “Future trouble may he brewing for current buyers,” the bank warns. 1 But some farmers feel they can afford to pay $5 to $15 an acre shove what the land is worth normally, figuring they can make that back if they have two or three more years like the past year.
' Who is buying these farms? Well, three-fourths of the farm sales near Chicago were sales to investors, not farmers. But for Indiana as | & whole, only a little over onefourth represented investor buying. “| You hear stories about caravans of wealthy eastern capitalists combing the country looking for good farms as inflation hedges and many | cases of people with just ordinary means buying farms as a “refuge in ease things go to pot.” | Are tenants buying farms of their | own? Yes, some, but not as much | a8 owners of farms are adding to their present holdings. Indiana | bankers said that twice as many | Owner-farmers are buying up more land as tenants who are buying | land for themselves. Will they be able to keep these farms or lose them back to the | bank? The survey does not answer | that question directly but here is a | good indication. Of the Indiana | farm sales, 5 per cent were made is 8 “thin” down payment of 25
BUTTER SUBSIDY PLAN EXTENDED
Processors Producing Less Than 1000 Lbs. Monthly
Now Included.
WASHINGTON, June 2 (U.P) — The office of price administration
sidy program to include small processors producing less than 1000 pounds monthly, provided they band together and sell on a joint basis through one outlet. The program, which* subsidizes creameries to the amount of 5 cents a pound, is designed to roll back the prices of butter to consumers 5 to 6 cerits a pound. The reduction in retail prices will become effective June 10. OPA said that the small proces= sors were not included in the orig inal draft of the program, since it would be administratively impos= sible to subsidize a large number of small units. However, on a cooperative basis, which will add up to 1000 pounds a month, small processors will be eligible for the 5 cent, payment. OPA said that in 1942 more than 2,000,000,000 pounds were produced by both large and small processors. During 1943, the estimated production is about the same. a
per cent or less, 40 per cent were made with a “substantial” dowh payment of 25 per cent to 50 jper cent, and 55 per cent had a “sound” down payment of 50 per cent of the cost or more. » ” 8
DOING BETTER. Revenues of Public Service Co. of Indiana in the first four months this year were one million dollars larger than the
first foug; months last year. Profits were about $150,000 higher.
Tuwcome
TAXES due TUESDAY
June
PHONE FOR A LOAN —
@ 4 out of 5 MORRIS PLAN Loans Made Without Endorsers. Borrow on
Character, Auto or Furniture = from
15%
Anytime, Day or Night
$75 to $500 to $1,000. Many loans
completed while you wait. No credit inquiries made of friends or relatives: _Take 6 weeks to make the first payment. FREE PARKING across the street in Arcade Garage for auto appraisal.
Phone MArket 4455 or | Come to, Morris Plan i 110 East Washington St.
Morris Plan
BUSINESS DIRECTORY
Merchandise
WASTE PAPER
| AMERICAN PAPER | STOCK COMPANY RI. 6341 320 W. Mich,
You Save Because We Save Men's Suits & Overcoats [67 418" ‘21 ‘24 | CASE CLOTHES
| 215 N. Senate Ave, Open 9 to 9
and Service
We Buy Usable Wire Garment Hangers at 10c per bundle of 10. 62 Stores All Over Indianapolis
TH
SHERWIN WILLIAMS
Has a Paint for Svess Purpose. COSTS LESS Because it Lasts Longer.
VONNEGUT'S
RT
ate
of MOTH ROLE aaRvT WORN 8
LEON ‘TAILORING CO.
the First Block
28 Mass Ave, In the Middle of
HIGHEST CASH PRICES
STANLEY igi] Co.
118 W. Wash. Lincoln Hotel Bldg.
COATS largest Selection in the State
INDIANA FUR CO.
112 East WASHINGTON St
i evan
WHEEL CHAIRS Why Buy One? Rent One At HAAG’'S ALL-NIGHT DRUG STORE
yesterday extended its butter subs/
22nd and Meridian USE YOUR CREDIT at VII ISHSINN ES
CLOTHING LOMPANY
131 W. Wi st. Directly Opposite Indiana Theater
* LEVINSON STRAW HATS “ander the’ sun."
automobile tires.
THE INDIANAPOLIS TIMES
That’ S Where the Rubber Goes
PAGE 19
Construction of runways at a new army airport “somewhere in Maryland” is done by earth-movers and they need tires, B. F. Goodrich engineers figure this 890-pound tire would make 40 pre-war passenger
PRIGES ON HOGS ARE UNCHANGED
200 to 225 Pound Porkers Bring $14.40 Top Here; 6850 Received.
The hog market was steady at the Indianapolis stockyards today, the top for 200-225-pound porkers being $14.40, the food distribution administration reported. Receipts included 6850 hogs, 650 cattle, 350 calves and 575 sheep.
HOGS (6850)
yi 140 pounds - 160 pounds 160- 180 pounds 180- 200 pounds 200- 220 pounds 220- 240 pounds 240- 270 pounds 270- 300 pounds ....... 300- 330 pounds 330- 360 pounds Medium— 160- 220 pounds Packing Sows
Good to choice— 270- 300 pounds 300- 330 pounds 330- 360 pounds 360- 440 pounds
Good— 400- 450 pounds .....ee0000s ~ 450+ B60 pounds ........ Medium. 250- 550 pounds Slaugnier Pigs Medium and Go 90- 120 pounds CATTLE (650). Steers
[email protected] [email protected]
esss teresa
[email protected] [email protected] [email protected] [email protected]
. [email protected] [email protected]
“Cholce— 700- 900 pounds 900-1100 pounds 16. 1100-1300 pounds [email protected] 1300-1500 pounds « [email protected]
od— T700- 900 pounds . eeeeessssese
16.00@16. 30 * [email protected]
25@16 900-1100 pounds sons 1% 26@16 1100-1300 ‘pounds oe 33. bisels 1300-1500 pounds .... «s 15.26 Medium — 700-1100 pounds [email protected] 1100-1300 pounds .e.ecesee... 14.00015.25 Common 900-1100 pounds ...... ceses [email protected] Heifers
Chote 600- B00 pounds 800-1000 pounds Good— 600- 800 pounds .... 800-1000 pounds ...
15:50 8.00 .. 16.50 ie. 8
+e. [email protected] . [email protected]
0 pounds ... .. [email protected]
Commoan— 800--800 pounds
Cows (all weights) 12. a 13. 00
Bulls (all weights) (Yearlings Excluded)
Good (all weights) .e..... 13. iiss 15
CALVES (350) Vealers (all weights) ~
Good to choice joo 1s. 50 Common and medium Cull (75 Ibs. up)
Feeder and Stocker Cattle and Calves
[email protected] ‘ee Ty [email protected]
«.. [email protected] «.. [email protected]
[email protected] [email protected]
pounds 800-1080 pounds . Good—
800- 800 pounds .... So. -1060 Pounds teens
diu 500- 1000 ounds Common oy y: 500- 900 pqunds’ 7 Calves (steers) Good and Choite— 500 pounds down edium— 1800 pounds down
Calves (heifers)
Good and Choice— 800 pounds, down [email protected] Medium—
00 pounds down [email protected] SHEEP AND LAMBS (575)
Ewes (shorn) Good and choice wd is 5.00 50
Common and choice .......... ei
[email protected] 11,[email protected]
LOCAL’ISSUES
Nominal quotations furnished by Indl anapolis aécutities dealers. Bid Asked Agents Fin gor ®: 1% jienis #) p pf d It R k Vas Siueas " Belt ® Sik Yds % pid Bobbs-Merrill com ... ........ Bobbs-Mérrill 4% 9% ptd Circle Theater com Comwlth Loan 2 pid
Book Bey or 0 Wa Wayne 1% pid. i,
Home Ind Asso Tel 5% - 99 Ind Mich 1% tro 2 es 17
s80cse dose
[email protected] [email protected]
Good to choice Medium and good Common
Lam Good and choicé Medium and good Common
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a30| twirling their globes;
and operation of airplanes.
most of the people in the world, and Canada begins to think of itself as the center of the northern air. Only Siberia is in anything like the same position, and neither Siberia nor European Russia would share similarly in the routes from the United States eastward. In Canadians have been seeing how the prospective direct routes from Cleveland, Detroit, Chicago and the Twin Cities to India and the Far East, and to England’ and northern Europe, will necessarily cross over the shoulders of the world, and Canada owns this hemisphere’s shoulders.
Runways 2 Miles Long
Routes from New York and the Atlantic coast could bypass Canada, but in the present state of development the ships would have to come
down on Newfoundland or Labrador. Canadians have the: liveliest expectations that hops of 3000 miles or more will be commercially practlcal the day after the war ends, and they .have been talking of building go | COMmercial airports with runways 3| two miles long. Middle-class Canadians even be2 gi to wonder how they will ever be able to save for old age against the lure of a Willkie trip for every man who is able to raise $2000. There is one set of calculations which gives $300 as the price of a postwar one-way air ticket to England, and another which gives $100. Both assume considerable air-mile subsidies.
400,000 Familiar With Planes
Canadians believe that the long 5 | routes of the earth’s air spaces will | be developed by the three greatest English-speaking nations, Canada, the United States and England, which are the countries with the largest northern populations capable
ik of traveling.
The great bargaining opportunity in the air always excites Canadians whenever they think of their geographical position, but they also wonder whether they can afford all it would cost to participate on anything like an equal basis. They expect to have 400,000 persons familiar with airplanes at the close of the war, 200,000 of them on operation alone, but they are not sure how much they can keep of their airframe industry, and how much new capital they can put into new passenger planes and into developing traffic. Canadians are confident they will enjoy complete reciprocity in the air, with the right to run their lines across the United States, but they are not so certain they would not fall under early and permanent domination by the two other nations’ greater economic power. The game will not be one for poor countries.
GRAIN FUTURES DROP ON BOARD OF TRADE
CHICAGO, June 2 (U. P.) —Grain futures maintained a steady to easier trend on the Board of Trade today. At the end of the first hour, wheat was off 14 to 3 cent a bushel, corn unchanged at OPA limits, oats unchanged to off %, and rye off % ‘to %. A quiet, dull tone prevailed in trading pits today as grainmen awaited developments in loan and ceiling issues.
LOCAL PRODUCE
voit bréed hens. 24%¢; Leghorn hens, Broflers, ftyers and roasters, under § Ibs.,
Ree Topsters, 16¢c. nt fecelpts, 54 Ibs. and up.
medium, Soc; Srads A she ade dic. on
Butter-—No. 1 50c. Butterfat—No. 1, 49¢c; No. 2, 46¢c
-
e, 37c; grade 260 ; no
WAGON WHEAT
wu the close of ae Chicago market napolls fl nd
mills a ley Bg “paid $1.54 ar bushel fof 1 Ne 3 aoati Sher gin No. hits
outs, | So 30 thal Rerits). foci No. wile shell corm, "Shc per ————————— Saree ADMAN TQ SPEAK
0. 2 white Shelled of eorn, $1. ne Brooks Smeeton advertising department of SR dans uni-
o| versity
will ad-
Canada Eager for Share in
Post-War Global Air Lines
By JOHN LOVE Times Special Writer TORONTO, Ontario, June 2.—In Canadian imaginations the postwar industry which outshines all others put together is the manufacture
This is chiefly, no doubt, because of the recent appreciation of the way Canada’s territory lies under or close by all the long routes of the future between the population centers of the new and old worlds. the northern hemisphere which has|
It's
LOCAL ABATTOIR QUOTAS ARE SET
Permit 80% of Staughter.
In Corresponding Months Of 1941.
Local slaughterers are now permitted “to slaughter 80 per cent of the quantity of meat animals they killed in the corresponding month of 1941, the war food administration announced today. This percentage will be in effect until further notice. Percentages were previously announced on a month to month basis. The administration also reported that the local slaughterers are required to make monthly reports of their slaughter operations. A local slaughterer is defined as “any person who in 1941 slaughtered livestock with a total live weight in excess of 300,600 pounds.”
Reports Are Required
Monthly reports from butchers, who : slaughtered more than 10,000 pounds |S
of livestock in 1941, but not more than 300,000 pounds, are also required, but only for those months when their slaughter exceeds 4000 pounds live weight.
Butchers are required to mail e their reports five days after the end | $ocdyea
of each month; within 10 days. Reports from butchers must tell the number and total live weight of each kind of animdl slaughtered during the month. Reports from local slaughterers must include the number of head, the live weight, and the dressed weight of livestock slaughtered, and the conversion weight of meat delivered to govern-
local slaughterers I
ment agencies and authorized pro- pan
Cessors. Affected persons in Indiana should mail their reports to the food
distribution administration, 5 8.|Ru%e
Wabash ave., Chicago.
U. S. STATEMENT
WASHINGTON, June 2 (U. P.).—Government expenses and receipts for the current fiscal year through May 31 compared with a year ago.
s Yea t Yea BExpénses...t $60.3 855, 632, 649 ol Soc 234, 285 Wor 8 ending. 64,639,595,529 ,182,436,538 Recei Sein 117 713,768, 108 Ft 1308, 802, 8717 Net Acit. ... 53,139, '410, 760 Cash Balance. 13, 686,708,780 ? mena lass i Public Debt.. Gold Reserve. 22, 1426, 404,870 22, 114, 406, 1H
INDIANAPOLIS CLEARING HOUSE ClOAFINES ov. svivavierivenrasyy $ 6,256,000 Debits
DAILY PRICE INDEX|
NEW YORK, June 2 (U. P.).— Dun & Bradstreet’s daily weighted
price indéx of 30 basic commodities,
compiled for United Press (1930-32 average equals 100): Yesterday .1m81 Week Ago Ceeaespaviiiiieae, 171.90 Month Ago .... eeievenies. 171.85 Year Ago ....:.0.., . 154.36 1943 High (April 2).
UNION APPROVAL IS NEEDED-WMC
Labor Must Be Consulted On Steel Firms’ Hiring And Firing.
WASHINGTON, June 2 (U. P.).— Spokesmen today indicated the steel
iii mh
TO BRITAIN TO RUSSIA $881,000,000 $1,411,000,009 @®)
industry was “greatly concerned’ over a new war manpower coms mission order directing that unions
be consulted on all hiring and discharge actions which arise in connection with conversion of the in-
INTIS: ii
diiliiiiniiin
g/U S Sp 3u U 8B Rubber....
dustry to a 48-hour week. War Manpower Chief Paul V. McNutt, in an apparently unpreced-
ented action, ordered regional manto consult with
power directors representatives of management and “of the collective - bargaining
agency” before granting approval
to releases, hirings or exemptions proposed in effecting the changeover. It was understood that Tepresentatives of the steel industry protested to WMC that this provision constituted union interference with a wholly management function. The provision was included in WMC instructions to regional manpower directors, issued to facilitate interpretation and administration of the original order. . At the same time McNutt extended to Aug. 1 the deadline for adoption of the 48-hour week in the steel industry. The previous deadline had been July 1. McNutt further ordered that exemptions from the 48<hour order be granted only for reasons “beyond the control of the employer.”
Link-Belt Worker
Receives Citation
Joseph H. Kautsky, a machinist -at the Link-Belt Co., heré in Indianapolis, is one of the two Hoo~ sier workers who have been awarded national] citations for their suggestions to’ increase industrial efficiency, conserve manpower and materials and reduce safety hazards. Mr. Kautsky, who was oné of the “production soldiers” honored by President Roosevelt at the White House last Dec. 10, designed -@ master block for use in setting Swedish bore gauges which resulted in the use of less critical materials. The other award went to Max Zeissig, foreman of the machine repair department at the Tokheim Oil Tank & Pump Co. of Ft. Wayne.
N. Y. Stocks
Low
Nek a H Last Allegh Corp .. Ya Allied Chem .. Can
1 20% 61 21Y, 04 10% 1084 169 Va
373 30 Son 54Ys
40% 542 41% 39 683%
33 16% 89%
Douglas Airc. . East Kodak .... Elec Auto-L.... Gen Electric .
+1 +++ +: +
an Kresge 2 Kroger G & B.. 30 L-O-F giass ... Link Belt 3 Minn Hny Monsanto
REESRRERE
V4:
R Phelps Dodge. Procter &
I++]:
14+] 1:
td Std Cal.. Std oil (Ind). . Std Oil (N J). Studebaker “va
| +:
Un Air Lines... sum... 7
Pe] T+: +:
West Union ... Woolworth . Yellow Youn, Zenit
Sheet... | Rad .
| 1+:
36% ° 30%. 30%
Complete New York stock quotations are carried daily in the final edition of The Times.
13,500,000 HENS ON FARMS Indiana farms had 13,500,000 hens
(in April of this year, in which they
averaged 18% eggs per hen, accord ing to L. A. Wilhelm, Purdue uni-
17240 1943 Low (Jan. 2)
61 versity poultry specialist.
MINNEAPOLIS, Mipn.,, June 2
vehicles, or artillery In peacetime, the glider, capable of propelling itself for considerable distances, could be used. to transport airmail, express &nd perishable products, he saids. Parkers ‘firm i8 one of. 13 throughout the country now manufacturing the craft. Pointing to the proposed expansion of facilities of the nation’s air- , Parker says, “the path is clear, for use of gliders in short distances of perhaps 200 to 300 Miles.”
New Possibilities Predicted For Twin-Engined Glider
(U.P.).—John E, Parker, president
of Northwest Aeronautiéal Cérp., believes that new possibilities for both combat flying and peacetime aviation have arisen from the development of a glider powered by two light motors. * Parker envisions use of the glider as a battlefront ambulance, and |” as a transport ship for carrying treops, small combat or reconnaissa
nce
distances. With the success of the 15«place glider assured in wartime, there is definitely room in post-war aviation for the an, * Parker points out. In a recent exberindnk. the glider was towed by a medium bomber and cast loose at 2000 feet. It rode the air currents until it ate tained a height of 3500 feet, then landed on the airport runway. As army . officials . the craft, its pilot, Col. P. R. Dent, pioneer glider
“Alrlines have petitioned the 7
builder, took off without the, tow ately to :
‘CHINA RUSSIA BRIT. TAIN $88,801,000 $1,992,000,000 $3, 116,000,000
More munitions of war have gone to Russia than to Britain through U. 8. lend-lease, "President Roosevelt has revealed. The bottom chart shows the share of the $11,102,000,000 lend-lease total to April 30 (including munitions, food, etc.) that Britain, Russia and China have received.
SCHOOLS FORM VICTORY GOURSE
Summer Program Includes War Service Schools For Adults.
A summer victory program, listing training available for adults, high school students and grade school pupils, has been outlined in a booklet distributed this week by the Indianapolis 4 schools. Summer high school sessions are from June 10-July 31 and grade school classes are from June 14-July 30, from 8 a. m. to 12 noon. War production training will be on a 24hour schedule beginning June. 14, with trainees able to complete a course in as short a time as three weeks. Every elementary school has a gardening program, with about 20,000 pupils already enrolled, and 4-H clubs will be organized in every community where the pupils want them and adult leaders can be found, according to Superintendent De Witt S. Morgan. There is a need. for adult leaders in 4-H club work and 4s gardening counselors.
Adults Eligible
All high school classes and preinduction classes are open to adults. Also released this week is an outline of war service activities of # the public schools. About 30,000 men and women ‘have been traifed in war produc tion work by the schools since June, 1940, it statés; more than 17,000 boys and girls have enrolled in the victory gardening program this summer; 100 teachers and principals have volunteered to serve as gardening counselors and supervisors; about 20 per cent of the entire high school enrollment is
+ |enlisted in the Victory corps, and , 180 home economics teachers have
been at work for six weeks studying
{2 (problems of wartime cooking and
now are offering their services in
3, |eath community in the city to a housewives.
. EVAPORATED MILK
PRICE INCREASED
The Indianapolis district OPA to-
manufacturers’ maximum price on evaporated milk sold in 14% ounce cans and in eight-pound cans. No increase has been authorized for evaporated milk in six-ounce cans. The action was taken because manufacturers have had to pay
"14 | producers higher prices for milk.
At the time ceiling prices were established for evaporated milk it was thought that the price which evaporators would have to pay for
«| milk would be determined by what
a creamery making butter and
«| roller-powder skim milk could pay.
This increase in manufacturers’ maximum price will not result in any immediate increase in retail
y price but will be absorbed by dis-
tributors.
BICYCLE QUOTA FIXED
The Indianapolis district OPA today announded that Indiana's quota of new adult bicycles for rationing during June totals 2301. A reserve quota of 797 bikes also was announced,
day announced that the national] OPA in Washington has authorized |. gs , | an increase of 15 cents a case in the |§§
JAP LABOR wl APPROVED HERE
o Agencies Urge Employment In Farming Areas of Indiana. *
Regional directors oft the war manpower commission and the war production board today voiced approval that American citizens of Japanese, ancestry who\now are in the 10 Japanese relocation centers in the West should be employed in Indiana areas where there are acute labor shortages. William H. Spencer, WMO chief, sald: “These people aré Anterican citizens. They are farmers, skilled workers, craftsmen and professional workers. We should not keep their talents idle. “In the camps in the West also are many loyal aliens who have lived in this country 10, 20 or 30 years. They are loyal to America and their manpower yshould not be wasted.
“To Insure Food Supply”
“The war manpower commission wants to utilize every bit of labor available to combat labor shortages. American-Japanese who already have been brought from the camps to work in the Middle West have proved themselves willing and ine dustrious. We urge all Midwest employers not to pass over loyal American-Japanese who are coms petent workers in many trades.” A. T. Kearney, WPB chief, said:. “Employment of American-Japaneéseé especially in farm areas will help insure an adequate food supply for the workers in war industries. Ems ployment of American-Japanese in skilled trades will help relieve the strain of labor shortage inh the Mid«. . dle West. War plant workers must have food and the war plants must have skilled help, and loyal Ameri« can-Japanese can help both ways.
LOCAL SAFETY MEN MEETING TOMORROW
Harry Geisel, American League baseball umpire for 27 years and now commergial agent for the Ine dianapolis Fotwarding Co., will be the principal speaker at the first of a series of nthly meetings for fleet chairmeh and captains sponse sored by the fleet safety come mittee of the Indianapolis Chamber of Commerce Safety Council at 6:30 p. m. tomorrow in the Claypool hbtel. . Clifford F. Beeker, chief of police, and Capt. A. E. Jacobs of the. po~ lice traffic division, will speak on the necessity for fleet safety during ware time.
PUBLISHER TO SPEAK AT SALES MEETING
Reservations will close tomorrow for the dinner meeting sponsored by the Indianapolis Sales Executive council and thé Advertising club of Indianapolis to be held at 6:30 p.m, Monday in the Indianapolis Athletic club. Arthur H. Motley, publisher of the American magazine, will address the meeting on “Post-War Planning or Paralysis by Analysis.”
AUTO FINANCING UP
WASHINGTON, June 2 (U, P.) = Financing of new passenger automobiles increased 36 per cent in April while the dollar value increased 31 per cent over March, the department of commerce has reported in a survey of finance companies.
Investment Stady Pays
Some of the more important facts covering the Farm Machinery Industry are discussed in a current memorandum which is avails able on rzquest at this office.
THOMSON & MeKINNON Members of New York Stock Exchangé and. Other Principal Exchanges 5 East Market Street Indianapolis, Ind. Telephone Market 3501
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