Indianapolis Times, Indianapolis, Marion County, 11 June 1943 — Page 31

1) PAN Sa Spear

ui a i SE 3

FRIDAY, JUNE 11, 1943 _

‘BUSINESS

| Big Cargo Fleet After the War?| + What Will America Do With Its

By ROGER BUDROW

WE GET SO WRAPPED UP IN THE STORIES about Henry Kaiser's shipbuilding that we are apt to forget its cohsequences. And the consequences of our vast shipbuild-

ing problem are something.

For years and years this ‘nation has always taken a back seat to Great Britain in regards to merchant shipping.

Now, our merchant marine possess. :

By the end of next year it ol

sapsyed that we will have 50

dead weight tons of cargo

ships. That would constitute about three-fourths of all the o'ceangoing tonnage in the world, compared with one-sixth we had when the war started. Before the war the Norwegians had the fastest and most modern ships. But. they operate in: U-boat waters and the fleet is nearing half the dize it once was. And the Norwegians are unable to build ships now.

Mr. Budrow

The British fleet also “has béen |

slashed in half by U-boats and they are able to build only 1,500,000 tons _ of new shipping a year, On the other hand, America is fortunate not only in its vastly increased shipbuilding but also in the fact that many of the American ships operate in the less hazardous routes to South America and across the Pacific. | Among the post-war questions remaining to be solved are; Will the Liberty ship, patterned after a British tramp, be able to compete with more efficient ships? If Britain and Norway and other countries subsidize their shipping, will we be forced into upping our subsidies to meet them? Or will it be necessary to let other countries rule the world’s shipping lanes in order to give them a share in world business? Shall we scrap our ships, sell them to foreign competitors, put away in grease for the next emergency, or what? It’s & complicated problem.

» » #

SYNTHETIC FLAVORS are booming because of the war. Vanilla long has been made synthetically. Now chemists are making imitation cinnamon; nutmeg, anise, caraway, coconut and chocolate. A * = =n

.

GOLFERS in Rhodesia are using].

wooden golf balls. They can be

driven about 130 yards, reports say, and in case Rgure a duffer, they float in water®hazards ‘which is

something the regular ball, unob- dp.

tainable “there, "doesn’t oblige. by ,doing, ; ® 8 8 \ . A NEW VOLCANO played hob with Mexico's lime crop this. year, This volcano, christened “Paricutin,” had its maiden eruption in February, spoiling the lime fruit in about half of the orchards. within 100 square miles. » 2 =n

TANK-BUSTING airplanes can

hurl 2%-pound shells with an im-|, ,

pact like that of a five-ton truck hitting a brick wall at 45 miles an hour. These planes are the British Hawker Hurrican IID, carrying Jwo 350-pound 40 mm. cannon, the Russian Stormovig II-2 which carries cannon and rocket bombs, and the Amerdon Douglas A-20' Havoc. Military nen point out it is no easy job for a pilot, flying at 300 miles an hour or , to keep the tank lined up in his sights long enough to hit it. At that speed, his gun, firing 100 rounds a minute, could get only five hits in the three

A mediu grade, Jim, 3c

day and exchange memberships were

has passed that the British

GRAIN FUTURES (OPENING FIRM

Trading Is Influenced by Reduced Official Winter

Wheat Estimates.

CHICAGO, June 11 (U. P.).— Grain futures. developed bullish strength on the Board of Trade to-

43 F000 OUTPUT]

HELD IN DANGER

Davis Says ES ravribh

Weather Threatens Nation’s Program.

WASHINGTON, June 11 (U. P.). —Unfavorable weather threatens the nation’s 1943 food production program, War Food Administrator Chester C. Davis reported today. He said “serious damage” already has resulted from excessive rainfall over a quarter of the nation’s most productive farm land and from continued drought in the great plains. The situation, however, is not

ical month. Favorable weather the remainder of the growing season would enable farmers to produce rnormal crops. In the wake of yesterday’s agricultural department predictions two farm state senators—Senators Elmer Thomas (D. Okla.) and John H. Bankhead (D. Ala.) — today demanded fundamental changes in administration farm policy, including the elimination of all federal planting restrictions in areas where crops have been damaged or ruined by flood.

day influenced by reduced official winter wheat estimates. At the end of the first hour, wheat was up % to 1 cent a bushel; corn unchanged at OPA levels; oats up % to 3%, and rye up % to 1%. Wheat opened strong following trade interpretation of the curtailed wheat forecast. Prices rose under active buying, fluctuating slightly under profit-taking, then rallying to substantial gains, July oats again topped the previous 23-year high and commission houses were active in mixed trade, longs profit-taking and new investors turning buyers. ;

MILLER IS NAMED GRAIN INSPECTOR

The apointment of Richard H. Miller as chief grain inspector and weightmaster of the Indianapolis Board of Trade effective July 1 was announced today by William H. Howard, secretary. Miller succeeded Samuel A.

Holder, who resigned after holding

the position since July 13, 1912, Miller, who joined the Indianapolis Board of Trade in July, 1939, had been an independent inspector al

Chicago and inspector for Missouri.

Miller is the board’s fifth inspector ‘since its inauguration in 1882.

LOCAL PRODUCE

Heavy breed hens. 24%¢; Leghorn hens,

Broflers, fryers and roasters, under 8 Ss Old roosters, 16c. Eggs—Current receipts, 54 lbs. and up,

Graded irade A large, 37c; grade ; grade A small, 6c; no

Butter—No. 1, 50c. Butterfat—No. 1, 40c; No. 2, 46e.

gk

seconds used in going a quarter of a mile. ” ” 8 ODDS AND ENDS: Homer P. Hargrave, new chairman of the Chicago stock: exchange’s executive committee, is a Hoosier with degrees from both Central Normal and I. U. . The .Grocery Manufacturers of America a few weeks ago .said freedom of the press was imperiled when the government kept newspapermen out of the Hot Springs food conference; then they themselves held a ‘meeting and kept out reporters. .. . . 10 years ago hogs were selling at $4.50, the busy stock exchange had a five million-share

worth $200,000. . . . Flying magazine says when ah airliner travels on the ground, taxiing to a stop or a take-off, its operating cost is 75

cents a mile.

CROSSWORD PUZZLE Answer to Previous Pussle

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Army man,

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18 Sloping way 17 Domesticated 19 Lubricants 20 Entreat

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“Already Too Late”

It already is too late, the agriculture crop reporting board said, to hope for yields equal to those of ‘last year, much less attain the 7 per cent increase called for in 1943 farm goals. The crop board made production forecasts only on wheat, rye, oats, barley, peaches and pears. All showed sharp reductions from last year. Production prospects generally were the poorest in three years. The crop board forecast winter wheat at 501,702,000 bushels and spring wheat at 228,822,000 for an allwheat total of’ 730,534,000 bushels. The comparable 1942 figures were winter wheat, 703,253,000 bushels; spring wheat, 278,047,000 bushels for a total of 981,327,000 bushels.

Rye Production Down

Estimated rye production was 33,841,000 bushels, compared with 57,341,000 bushels last year, Oats were 1,168,850,000 bushels, compared with 1,3568,730,000 bushels last year; barley 371,044,000 bushels, compared with 426,150,000 last year; peaches, 45,267,000 bushels, compared with 66,380,000, and pears, 24,299,000 bushels, compared with 30,717,000. The meaning. of the crop board's report, Davis said, “is redoubled effort to produce food on the farm, in victory gardens, tp conserve every scrap of food, to wakte nothing.”

Await Crop Report

Despite the prospect of reduced crops, total food production may approximate that of 1942 because of greatly increased livestock numbers, Davis said. Food officials * said that no changes are contemplated in food distribution plans until after the crop report of next month. If the July 1 report is equally unfavorable, reductions probably will be made in civillan food estimates. May rains, averaging about eight

an area some 1500 miles along and 300 miles wide extending from western Oklahoma to northern New York and from Michigan to Kentucky, Farm work was halted on an estimated 90,000,000 acres.

'U. S. Will Need 35,000,000 Cars’

CHICAGO, June 11 (U. P.).— C. Scott Fletcher, general sales - manager of the Studebaker Corp., predicts it will take automobile manufacturers from four to five years after the end of the war to restore the nation’s stocks to normal. Fletcher said that production of from 35,000,000 to 40,000,000 cars will be needed to replenish the country’s depleted supplies. “This production, along with four or five million houses which will have to be built after the war, is part of an estimated $140,000,000,000 of goods and services that 55,000,000 people gainfully employed can produce after the war if ‘American management takes the initiative,” he said.

LOCAL ISSUES

Nominal quotations furnished by Indi. anapolis securities dealers. Bid Asked

Agents Fin Corp com ...... oe 1% gents Fin Corp pfd ......... 2 “rs Bent B Stk a x a 42 46 5s 6% pid....... “re Bohs. Merl} oo om 39 Pen 3 . s-Merrill 4%9% pfd ...... 40 Circle Theater com bd... 31 Comwlth Loan 53% vid....... 98 101 Hook Deux Co 15 ome Ft Way! ne 7 td. 51! nd Asso Tel 8% pid td. jo *Ind & Mich 7% pfd ......... 111 Ind Hydro Elec 7% ....cc.w.. 7 52 d Gen Serv 6% .......... «..105 *Indpls P & L 5%% ........ 1052 Ioana Pa L com ane ar tees 15% 17 pls ways C' COM, ive 15 16% | Good— *Indpls Water pf ............. 105 0 Indpls Water Class A fom «es 15% 17 Lincoln Loan Co 5% pid ..... 88 92

Lincoln Nat Life Ins com .... 32% 35% 95

United Tel Co Co 5% ...

ras snare 100 wo nicl 2 2 oi Co 3s 0 Ne gr Indpls P & L 3%s Lieses 107% 100% | oq Indpls Railways Co » on... nT .8

Indpls Water ¢ Co 3%s 66...... 303 110 S .

a 108 es Ind Pub Serv 3%s 69....... 107% 109% In 5s 55 3

6s 55 Richmand Water Wks 5s si0a0 Term bs 57

cserane

U.S. Ma chine orp. 6s 83..... 9 100

JACOBS TO SPEAK

Whipple Jacobs, president of the Belden Manufacturing Co. of ont-|

hopeless, he said. June is the crit-

PRICES ON HOGS RISE 35 CENTS

Porkers Weighing 160-400 Lbs. Bring $14.35 Top; 5200 Received.

Prices on hogs weighing 160 to 400 pounds advanced 35 cents at the Indianapolis stockyards today, the food distribution administration reported. The top for these weights

Receipts included 5200 hogs, 175 cattle, 375 calves and 200 sheep.

Good to choice— 270

Medium and Good—

00 900 900 Founda

1100-1300 Pounds 1300-1500 pounds S8sssesvsnne

900 po 1100-1300 pounds 13009¢

1100-1300 ) pounds

Cows (all weights)

Sasi asencetanre tints

sede binnt inna bannens

Sesb tists incasanrtanane

Bulls (all weights) (Yearlings Excluded)

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Vealers (all weights) Common gag a dm

Feeder and as Cattle a an

Caressa inen [email protected]

Good and Choice— 500 pounds down ...

Medium 500 pounds down ......

SHEEP AND LAMBS (200)

Good and choice ............ . Common and choice .

Good and choice good

Good and choice ........... ood .

WAGON WHEAT . toe. 3 8 She oe one of hhh Chicago } market

Expense 8} War spending 68 dovaiore ie be 53 2k: bushel for ipts

__ mE INDIANAPOLIS TIMES — Make Own Repair Parts

PAGE |

- The ODT has urged all transportation companies to double their efforts in preserving present equipment. So, mechanics in the motor department of the Indiana Railroad bus service garage often have to turn out repair parts themselves to “keep ’em rolling.” Shown here are Dave Harmon (left) and Sam Kinney.

You'll Be Hearing From the Treasury About New Tax

WASHINGTON, June 11 (U. P.).—The chances are you're going to be hearing from the treasury pretty soon about the new pay-as-you-go iricome tax collection system. The new 20 per cent withholding plan, which President Roosevelt signed into law yesterday, goes into effect July 1. getting out information both to employees and employers on how it works.

The treasury is

If you are an employee, arid not in one of the exempted classes such as agricultural labor or domestic service, you will be asked to fill out

a small blank entitled:

“employee’s

withholding exemption certificate.” It will contain your name, ad-

‘dress, social security number and

information about your marital status and the number of dependents you have. The treasury has prepared an explanation of the withholding tex which may be obtained by addressing the nearest

collector of internal 1evenue.

The responsibility for doing most of the bookkeeping under the pay-as-you-go system falls upon the employer. Employers who collect more than $100 monthly must pay the money into a treasury-author-ized depository each month, Employers will have until the 10th of each month to make the payments. Employers also must make quarterly returns to their collectors of

internal revenue,

and show the

aggregate amount of taxes ‘withheld

during the quarter.

N.Y. Stocks

Bi Low Allésh Corp ... a 2% Allied Chem ...158 187% 1 Allis-Chal 31% Am Can ....... 85%

Am Rad & 8 8 11% Am Roll Mill... 14% Am T & T ....158 156 Tob B . 60% Am aWter W.., T% Anaconda . 28% Armour Ill 5% son 5612

Chem .. Ye: 150% East Kodak ...166% 1 Elec Auto-L

L-O-F Glass .... a Link I aes 38 nn Y evsns 2 Monsanto ..... 88 Nash-Kelv . 14 Rat Behe Hi a 8 Nat Dairy ..... 20% N Y Central ... 17% Noblitt-Sparks.. 31 Ohio Oil ...... . 185; PackarA: FeW ane Ys Pan Am Air . 35% CNY Vs evvns 1 Penn RR ..... 20%

BD SErV ..eue 15% 00 | Bullman hase 37% 00 (pure Oil ...... 18 Radio .......- 1%

Brands Ta d G&E ... 1% Std O Cal ... 39

Std Oil (Ind) . 34% Std @il (N J) . 56%"

Studebaker .... 13 Swift & Co ... 26% Texas CO .:..... 51% Un Air Lines . 28% U 8 Gyp US ne Alcohol Mia S Rubber . U 8 Steel “..... 556%

oung S| a Zenith Rad ... 33

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FEIRFEE

Complete New York stock quotations are carried daily in the final edition of The Times.

‘U.S. STATEMENT

WASHINGTON, June i1

P.).—Government expenses A hers pts dor he

current fiscal year pared with a year rough

[Net de Net efiett BR 36.007 143

SESE [ria ait § (Eas of

This Year hy 3h ,518,417 wae did 3 301433 120, 313.1

7403, 2% 138

PROBE POTATO PRICE VIOLATION

OPA Investigating Charges Of Illegal Practice in South Carolina.

COLUMBIA, S.C., June 11 (U.P). —Reported violations of OPA ceiling prices and illegal practices in South Carolina potato markets are under investigation, F. Carlisle Rob-

ney, said today.

—Meggets = and Beaufort — have snagged 10 truckers with bills of

have been filed yet, pending com-

truckers buying potatoes on the fields for as much as 50 cents a 100 above ceilings.

growers (country shippers). Buyers

limits, but allegedly put growers on the payroll for $200 to $500 weekly, he said. No cases have been tried in South Carolina, but four similar cases were brought to Mississippi courts, Roberts said.

Arrest Two

Two intermediate sellers have been arrested for allegedly selling above ceiling levels at the Columbia (S. C.) curb market. A broker was charged with the illegel “tying” practice of requiring a retailer to

potatoes. Another reported method of Jumping price ceilings, Roberts said is selling South Carolina potatoes

HEAD OF VARIO

PLANT DEFENDED

U.S. Charges in $5,000,000 War Fraud Case ound 2 Anaconda Indiana Factory That Wire Tests Were ¢ Faked; Hart's Co- operation With Navy Cited.

FT. WAYNE, Ind., June

plete investigation. He added that|$5,000,000 war frauds case he had received reliable reports of| against the division plant, two

officials and three employees.

Galvin, in describing the attitude

Roberts said he had been advised |0f Plant manager Frank E. Hart to that certain New York buyers wcre| Wards his work, related an incident “counter-attacking” these price | involving the degassing sale, Taises b 1 fits with local €quipment produced at Marion for a y splitting profits oca. the navy designed to provide mine

purchase potatoes within ceiling | Protection to ships.

The attorney said the naval in-

spection office at Indianapolis detected flaws in the cable and notified Hart, who [took steps immediately to rectify the defects.

“When Hart learned of the com-

plaint,” Galvin stressed to the court, “He called togetlier a group of men in the plant and impressed. upon them the importance of care in connection with| the manufacture of the degaussing cable and other vital war material.” -

Gavin quoted Hart as saying “if

; I find anyone producing faulty mabuy beans in: order to obtain. ..1" in this plant, I'll knock his block off!”

Discovered in August The attorney also told the court

in Florida bags. Ceilings are 60 that last August when “irregularcents per hundred higher in Florida. | iiee in testing oot wore tain Roberts said he thought much of | o,vereq at the plant” Hart ordered the potato market corruption in the the equipment put in order at once.

state is due to higher price levels| mya following October, Galvin conin Florida. Florida spuds ordinarily yin, eq the Indianapolis naval in-

reach markets earlier and bring|g,..iion office addressed a letter to

Carolina's.

price schedule May 25. The South about two weeks and will continue

approximately 10 days longer, Mr. Roberts said.

DECCA PAID BING

higher prices than those in South Hart, stating that changes made Carolina. This year, by a quirk were “completely satisfactory.” He of nature, the two crops hit the said the letter also expressed “ap-

markets at the same time—with iation for your (Hart's) splenFlorida ceilings overreaching South a owe P

He pointed out that the plant

So far as Roberts knows retail « ” attained such an “enviable” record stores are keeping within ceiling that it received the navy “E” proprice levels, revised under a new duction award. |

Galvin was ‘the last attorney to

Carolina potato market has been in|." oq yesterday before the court recessed.

Carpenter Defense Due An conclusion [of his remarks,

Ed Thomas of Ft. Wayne, counsel for Chalmer C. Bishop, assistant chief inspector, began entering his

$298,946 IN 1942 “Fine

be presented by Robert Caine of PHILADELPHIA, June 11 (U. P.).| Marion, representing Don R. Car-

Final counsel statements were to

—Crooner Bing Crosby . received|Penter, former superintendent of

$298,946 from Decca Records, Inc.

terday.

Waring, $33,600; Band Leader Guy Lombardo, $32,781; Band Leader Woody Herman, $32,662, and the Ink Spots, quartet, $21,111.

the plant, and O. F. Rhodes of Peru, representing Frank Kunkle, in 1942, the New York company’sformer assistant | chief inspector annual report to the securities and | The latter were | dismissed fiom

exchange commission disclosed yes-|company employment when the indictment was returned.

District Attorney Alex M. Camp-

_ Payments to other Decca artists) je) wi) conclude the hearing, included: Band Leader Jimmy Dor- probably sometime late today, by

sey, $79,302; the Andrews sisters, ,,swering defense) arguments in singers, $48,306; Band Leader Fred tai statement. ts 2

Face $10,000 Fine Judge Slick indicated earlier he

would then take the case under

Decca President Jack Kapt and|gdqvisement and return a decision

ens received $56,285 each. Paley Received $185,820 Other 1942 payments included:

$65,132.

executive vice president, $65,462; | once which led Paul W. Kesten, vice president and|,, eight-count in

are charged with conspiracy to de-

general manager, $64,342.

Executive Vice President E. F. Stev-| ang impose penalties. Each defendant faces maximum penalties of |% $10,000 fine, 10 years imprisonment, or both.

The hearing opened in federal

International Business Machines | .qurt here yesterday. The defense Corp., New York: Thomas J. Wat-| counsel for each individual entered son. president, $428,188; Frederick|pleas of nolo contéender—which for W. Nichol, vice president and gen- practical purposes is one of guilt—

eral manager, $117,271; John GG. immediately after |the cou onPhillips, secretary and treasurer, |yeneqd. y We

Following the | pleadings, Pat

. Columbia Broadcasting System, | coon, special assistant to the atInc, New York: William Paley, torney general, made a two-hour president, $185,820; Edward Klauber,| summation of the a evi-

the return of ctment. They

General Motors Corp. Detroeit: fraud the government through the Charles E. Wilson, president, $150,-| 0. tacture of allegedly defective

dent, $100,525; Albert Bradley, vice president, $100,645. Goldblatt Brothers, Inc, Chicago: Morris Goldblatt, president, and Nathan Goldblatt, secretary-treasurer, $100,000 each.

LA PORTE MILKSHED AGREEMENT READY

The government rested its case at

An amended marketing agreement, reguating the handling : of milk in the La Porte county milkshed, will be submitted to producers and handlers in the area within a few days, the war food administration said yesterday. If approved the amended order

v1.1 , LEVINSON

2 //STRAW | HATS DN a, we > Bye. a

THREE STORES

would raise the minimum order price of class I fluid milk from $3.17 to $3.32 a hundred pounds, the class II cream price from $2.87 ‘to $3.07 and the price of class III milk (used for manufacturing purposes except in butter) from $2.67 to $2.77. The proposed prices already are being paid voluntarily to producers by handlers. = Retail

FUR COATS Largest Selection in the State

INDIANA FUR CO.

112 East WASHINGTON St

prices, therefore, would not be affected.

June Declared "Dairy Month'

° Once again, June has been declared Dairy Month by Governor Schricker. His proclamation paid special tribute to those workers who “are working long hours, under discouraging c so that the uniformed forcés, our allies and civilians may have this highly essential food.” The governor said that “in spite of long hours and the

help, the 153,000 dairy f: y : armers

WHEEL CHAIRS Why Buy One? Rent One At

PR y's

138 E. WASHINGTON ST.

. p we mu bs 4 0

11 (U. P.) —Timothy Galvin

of Hammond, third defense attorney to present oral stated erts, state OPA enforcement attor-| ments in the "nolo contendere proceedings against the A conda Wire & Cable Co. and five individuals, today resum Investigators placed at outroads| his orations in behalf of the manager of the company’s of the state's largest potato markets Marion, Ind., plant. | : The hearing before Federal Judge Thomas W. Slick of sales showing prices above OPA|the Northern Indiana U. S. district court entered its seco ceilings, Roberts said. No charges 3,, Tt js being conducted to dispose of the goverment ii

could be made to appear two, four good as it actually was.” |stalled in a secret panel beneat sample wire. It was so constructe

rent passing through the wire, the

noon. When the court reconvened, Phil McNagny, counsel for Anas. conda, began defense statements bid saying that company officials 3 the East” had absolutely no knowls edge that the “little men” in Marion plant were not conducting proper wire tests. ; When asked by Judge Slick ir \ this was not inconsistent with plea of nolo contendere, McN: said that the plea was made t@ “prevent the tying up of vital w production in our plant.” He poin out that the government intended: to call approximately 60 “of oul key employees” as witnesses at the trial “which would have impeded our vital war output.” All three attorneys contended that neither Johnson nor Hart, bo! company officials, were aware of | legedly fraudulent wire tests at th

plant.

‘Back as Far as 1932’ : i Coon’s summation brought testimony telling of purport frauds committed against peaces time customers as far back as 193% as well ‘as illegal tests under wap contracts. He submitted two so-called® “button boxes” housing five elecs trical resistance coils. He demon¥ strated how by manipulation the five contact buttons that “wire

six, eight and even 10 times

Coon said the boxes were we the galvanometer employed to that while reducing electrical cure: dials on the meter were nog.

affected. Among other detailed example

showing alleged fraud, Coon cited the “system” of transferring “OK™

tags from perfect wire to defectivg untested wire for shipment. The

same wire, he said, was ised

peatedly for government tests, 4 a - if

FARM WORKERS PLACED County agricultural agents ree cruited and placed a total of 1997 farm workers in 71 of Indiana’s 93 2 counties during the first five monthg = of 1943, according to J. B. Kohls 3

‘| meyer, state supervisor of the U. 8

Crops corps. 8

— Investment Study Pays p-

1 Send a copy of your memorandu - I forinvestorson the Plastics Industry. 38

I — 1 NAME I I . ADDRESS THOMSON & Me

Members of New York Stock Exchange : and Other rine pal 3 Exchanges 5 ‘East Market Street janspolis; Jad i Telephone Mant 350

ison wor sma se cs ode utc AS A SA Oo

ah

You Save Because We Save Men's Suits & Overcoats 16° '18” 21” 24 CASE CLOTHES 215 N. Senate Ave. Open 9 to

USED PIANOS 1 ALL or To TERMS 4 .

BALDWIN 1%,

Indiana's Largest Distributors: of Fine Pianos ;

44 8S. Penn.—Open Eves. MA-1

USE YOUR CREDIT at -

131 W. Wi St. 8 Directly Opposite s Theater -

Make Woodworking Your Hobby. . DELTA MOTOR DRIVEN TOOLS Exclusively at VONNEGUT'S A 120 E. Washington St. i

HANGERS is Stel : Hangers a¢ 100 3

LIT