Indianapolis Times, Indianapolis, Marion County, 15 June 1943 — Page 15
_ THE INDIANAPOLIS TIMES _in Colorful Ceremony
NWLB TROUBLED BY LITTLE CASES
Bridgeport Brass Gets ‘E
Finance Companies Put Idle|$ Cash Into Small War Plants |’
By ROGER BUDROW
. WAR TAXES ARE FORCING SOME SMALL concerns to the wall where they are purchased by other companies with plenty of cash to spare. That is the charge of the Na‘tional Small Business Men's association.
The tax trouble centers
which uses the profit made in some pre-war year as a base|: and practically confiscates any profit above that being made |§
HOG PRICES SAG.
now. As a general policy, such a tax is looked upon with favor because it goes part of the way in preventing war millionaires. But there are always exceptions to the rule. And these exceptions are in the position of either selling out or going heavily in debt to meet war costs. The buyers often are finance companies that have no automobiles or TreMr. Budrow frigerators or the like to finance now. So as their loans are paid off, they take the cash dnd invest it in small war companies. ; Just what the reasons were I do not know but Associates Investment Co. of South Bend, which enjoyed a big pre-war business, has been doing that. Since installment gelling has been curtailed by the government, it has faced the problem of what to do with its money. It redeemed 15000 shares of its capital stock, paid off all its bank loans, put money in government bonds and then bought war plants in Ft. Wayne and Muncie. Other finance companies have done the same thing. ! 2 8 8 “CUT OUT PAPER DOLLS.” That is what workers at the LinkBelt plant here are told. “One of our greatest production problems is to utilize the greatest possible area of steel sheets, strips and plates,” the company says. “In thousands of cases the answer has been found by cutting out ‘paper dolls’ in the shape of the desired piece and juggling them around so that there is a minimum of waste when they are laid out and cut from the material.” 2 8 = KINGAN & CO. and eight other meat packers asked the OPA for permission to raise prices of beef sold to the government. quest was denied yesterday. The OPA said all the packers wanted to raise their prices because it costs more to buy live cattle from farmers than formerly, due to the beef shortage. ‘ But, OPA added, none of the packers showed that present prices hampered getting supplies for, the + government and said that higher prices would enable the packers to bid up prices and thus drive out those packers supplying civilian trade only. » tJ ” ODDS AND ENDS: WPB Is closing 23 of its district offices, mostly in the East. . . . Standard Brands and Libby, McNeill & Libby, big food concerns, deny reports they may merge. . . . Absenteeism at the Kingsbury ordnance plant near La Porte, Ind, reached the lowest yet last month, 8.9 per cent of all man-hours. . . . There are reports that the synthetic rubber manufacturers may be invited to join the natural rubber cartel that ruled production and prices for years. Civilian buyers in western U. S. are anxious to get in supplies before war offensive swings on Japan and gluts rail- . roads with military traffic.
GRAIN PRICES MIXED ON BOARD OF TRADE
CHICAGO, June 15 (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 % to 3% cent a bushel, corn unchanged at OPA levels, oats unchanged to up % and rye off % to up %.
DAILY PRICE INDEX |#aris, lets 5%
NEW YORK, June 15 (U. P.).— Dun & Bradstreet’s daily weighted price index of 30 basic commodities, compiled for United Press (1930-32 average equals 100): Yesterday ..c....e0.s-. ‘Week 880 .eocceesseacsscnss MONCH: 2380 ...vevssesneeesses Year ago sessensnas 1943 high (April 2)....e00000
170.45
155.02 172.40 166.61
New LAW?
it to yourself eo, To ana’s new Financial Re-' sponsibility Law will af1 fect you if you have an § i] accident after July 1st go. 1 and cannot pay for it, § or prove financial responsibility. For complete details, see or tele-
phone
Mutual Agency, Inc. GRAIN DEALERS
1740 N. Meridian
600- 800 po The re-| good
170428
171.28 | Td Too
isi | Indpls Railways Co 5s 67 ... + | Indpls Water Co 3's 66 | Kokomo Wi;
about the excess profits tax
15 T0 25 CENTS
Porkers Weighing 200-225 . Lbs. Bring $14.15 Top; 12,100 Received.
Prices on hogs dipped 15 to 25 cents at the Indianapolis stockyards today, the food distribution administration reported. The top for 200 to 225 pound porkers dropped to $14.15, Receipts included 12,100 hogs, 950 cattle, 625 calves and 250 sheep.
HOGS (12,100)
120- 140 pounds 140- 160 pounds 160- 180 pounds 180- 200 pounds 200- 220 pounds 220- 240 pounds 240- 270 pounds 270- 300 pounds 300- 330 pounds ,ececocccosns 330- 360 pounds Medium— 160- 220 pounds
Packing Sows
Good to choice— 270- 300 pounds 300- 330 pounds 300- 360 pounds 360- 440 pounds Good— 400- 450 pounds 450- 550 pounds Medium— 250- 550 pounds
Slaughter Pigs
Medium and Good— 90- 120 pounds
CATTLE (950)
[email protected] eresne eases [email protected]
[email protected] [email protected]
eecesiiianns .65 .60 50 50
®esssnscsnne
[email protected] [email protected]
eevsessceneee
. [email protected] . [email protected]
eee [email protected] «+. [email protected] [email protected] «+ [email protected]
. [email protected] [email protected]
1300-1500
Good— 700- 900 pounds 900-1100 pounds 1100-1300 pounds 1300-1500 pounds Medium— 700-1100 pounds 1100-1300 pounds
Common— 700-1100 pounds ....... cerns Helfers
eesscncenene
Choice— . [email protected] [email protected]
. [email protected] . [email protected]
. [email protected] [email protected].
800- 900 pounds serves Cows (all weights) GOO ..ovc on ieniinnne eevee. [email protected]
Medium [email protected] Cutter and common...... 0.800 10.15 8.00@ 9.50
Canner Bulls (all weights) (Yearlings Excluded)
sesesscsscsasnssesss [email protected] weights) ..eeee.. [email protected]
Beef— Sausage— Good (all Medium CALVES (625) Vealers (all weights) Good to choice [email protected] Common and medium Cull (75 lbs. up) Feeder and Stocker Cattle and Calves _
Steers Cholce— 500- 800 pounds ..e.sscee00.0 [email protected] 800-1050 pounds ...cees00es0. [email protected]
500- 800 pounds . [email protected] 800-1080 pounds .:1:111111010 [email protected]
edium— 500-1000 pounds .cesscceecsss [email protected]
Common-— 500- 900 pounds [email protected] } Calves (steers) . Good and Choice— 500 pounds dOWn .ceeeces.... 15.00916.50 Medium— : 500 pounds down ..... Seavey . [email protected] Calves (heifers) Good and Choice— pounds down .evecesseees [email protected]
Medium— cesssessnsee [email protected]
500 pounds down
SHEEP AND LAMBS (250)
Ewes (sho Good and choice m
Spring Lambs Good and choice............ ve} Medium and good Common
iio Lambs (Shoin) Good and choice Medium and good Common
LOCAL ISSUES
Nominal quotations furnished by Ind}. anapolis securities dealers, Bid Asked Agents Fin Corp com ........ 1% Agents Fin Corp pfd ..c.eeeee 20 Bett R tk Xe Som al 42 Ss cesenele BY Bobbs-Merrill i » cases Bobbs-Merrill 4%% pfd ... Circle Theater com ....
soe
“ee
Home T&T Ft Wayne 7 fd. 51} Ind Asso Tel 5% Prd % % = & Mich 7% pid ... . In Ind Indp
Hydro Elec 7% ... Indpls Rlways Inc com *In, Water
P ‘R Mallory com ene *Progress Laund v . Pub Serv of Ind 5% pfd...... Pub Serv of Ind com 50 Ind & E 4.
Algers Wins'®w American Loa
200... ereens+107Y . ater Works 5s 68..105 Kuhner Packing Co 4%s 40 ,.. 98 Morris 5&10 Stores 5s 50 38
U. 8. Machine *Ex-dividen
' U.S. STATEMENT
WASHINGTON, June 15 (U. P.).—Government expenses and for the through coms
nw Toor ars 5 sar © Last Year
is rr ..$13.041,418.107 01 Be ding’ 61.004.03.461 | 33.831,401 345
18.363.607.283 10.723616.238
. fj Net 2 [1 o
t .. 54 balance 30,803, 525,013
% | manufacturing industries
Among the army, navy, Industrial and governmental notables at yesterday’s presentation of the army-navy “E” to the Bridgeport Brass ordnance plant here were Governor Schricker and Maj. Gen. Charles T. Harris Jr.,, commanding general of Aberdeen proving ground.
Pe Same
The coveted “E” pennant, now flying at the plant, was won in a little more than a year of the new plant’s operation.
Disregarding the blazirig sun was this crowd of workers, families and friends who witnessed the colorful z ceremony on the grounds near the cartridge brass works.
INDIANA JOB
But Payrolls Advanced in May, Employment Division Says.
Preliminary estimates indicate that Indiana employment dropped slightly in May from April although weekly payrolls made a slight ad-9
vance, Col, Everett L. Gardner, Indiana Employment Security division director, has reported. Post-Easter season decreases in certain retail trades together with curtailments in various non-durable goods manufacturing industries led to the small over-all employment decline, The division estimated that there were 576,530 wage earners employed in all manufacturing industries and the eight groups of non-manufactur-ing industries studied, a 0.6 per cent decrease from April but 4.6 per cent higher than for the same period a year ago.
Up 27% Over 1942
Total weekly pay roll of these wage earners was estimated at $23,165,571, up 0.8 per cent from April and up 27 per cent from May, 1942. Combined manufacturing industries employmént was 401,644 wage earners, down 02 per cent from April, but up 8.2 per cent from May, 1942. Total weekly pay roll for manufacturing ' industries was estimated at $18,569,953, up 1.2 per cent from April and up 34 per cent from May, 1942. a Very small decreases in employment and pay rolls were noted in the durable goods manufacturing group. In the non-durable goods manufacturing industries, however, the number of industries showing reduced employment was greater than the number of industries showing increased employment.
Sales Jobs Decrease )
Estimated employment in the nonstudied was 174,886, down 1.4 per cent from
B April, and down 2.8 per ceht from
May, 1942. Weekly pay roll etsimate
.'|'was $4,595,618, down 0.8 per cent
from April, but 4.8 per cent higher than a year ago. Employment in eight retail trades dropped 1.7 per cent in May from April, but corresponding weekly pay rolls were only 0.8 per cent less. Wholesale trades showed an up-
ward frend. Coal mining fell off,
while quarrying and non-metallic mining increased. Hotels, laundries,
and dyeing and cleaning establishments all had fewer employees and
lower pay rolls than in April.
LOANS, INVESTMENTS DROP WASHINGTON, June 15 (U. P.). —Combined loans and investments of federal reserve member banks in 101 leading cities dropped $374,000,000 during the week ended June 9 to a total of $46,808,000,000, the weekly condition statement disclosed today.
| LOCAL MAN APPOINTED
,367, ¢ 12: 1,1 f 1 29
Edwin B. Hasseld of Indis
TOTAL FALLS
Low-Cost Soft Water Predicted
CLEVELAND, June 15 (U. P.). —Recent developments in the science of water conditioning will bring low-cost soft water to small communities long burdened with. the waste and inconvenience of hard water, S. B. Applebaum, vice president of the Permutit Co., said today at a meeting of the American Water Works association. Steel-saving small tanks are used in the “spiractor” process, and only five of ten minutes are _ required to soften water compared with several hours - by ' older methods, he stated. The new device takes mineral-laden hard water, spirals it through an inverted steel cone and sends it out soft.
Make Thousand "Bullets a Minute
DETROIT, June 15 (U.P.).— Production of 30-caliber carbine ammunition has been started by Chrysler Corp. which already has turned out and shipped more than 1,000,000,000 rounds of 45-caliber bullets, President K. T. Keller informed stockholders today. In a letter to stockholders, Keller called attention to the Evansville, Ind., plant where Chrysler is turning out 45-caliber ammunition “at the rate of thousands a minute” and last February was asked to make—and now is mak-ing—30-caliber carbine bullets. “By employing automobile production methods, including the installation of an 11,800-foot conveyor -line, the government tells us that our Evansville ordnance plant has been able to manufacture 45-caliber ammunition with exceptionally few man hours of work per 1,000,000 rounds of ammunition,” Keller said.
COUPLE FOUND SHOT TO DEATH IN HOME
WARSAW, Ind., June 15 (U. P.). —Dr. Leslie Laird, Kosciusko coun-
ty coroner, said today the ‘bodies of Mr. and Mrs. ‘Ralph Sayger of East Warsaw were found in their home late yesterday in what appeared to have been a case of murder and suicide. Mrs. Sayger was found on the bed While Sayger lay on the floor nearby with a revolver next to his body. There was one empty shell in the gun and another on the floor. ; Laird said the Saygers apparently had been dead since Priday or Saturday of last week. Ey Sayger was an employee of the Northern Indiana Public Service Co. and was about 55.
LOCAL PRODUCE Heavy breed hens, 2¢ljc: Leghorn hens,
bs. 37%.
22%c Broilers, fryers and roasters, under § rs, 16¢.
Did
“i antva |
COURT UPHOLDS [CC AUTHORITY
High Tribunal Sets Aside Injuction in Grain Case By 5-3 Vote.
WASHINGTON, June 15 (U. P.). —The supreme court yesterday upheld the authority of the interstate
commerce commission to fix higher rates for grain shipments moving eastward by init rail and waterway facilities than shipments moving entirely by rail. It set aside an injunction against enforcement of the order. ; The court split 5 to 3 on the decision, which overruled an injunction issued by a three-judge federal district court in northern Ohio. Justice Hugo Black delivered a vigorous dissent in which Justices William O. Douglas and Frank Murphy concurred. Justice Wiley Rutledge did not participate. The court said specifically that it had no authority to establish rates for the commission or to fix its “attitudes” but only to determine whether the ICC had acted within its authority. Justice Robert
H. Jackson wrote the majority|S
opinion. The rate order affected only reshipment of grain eastward from Chicago. Cargoes which had moved into Chicago by barge were given a higher rate than those whicn had
moved there by train. The injunc- |=
tion. was sought against the ICC
and the railroads by the inland|Se® F
waterways barge ' company and similar carriers.
REPORTS RUSSIANS NEED MORE GOODS
WASHINGTON, June 15 (U. P.). —Lend-Lease Administrator Edward R. Stettinius Jr. said today that great as food shipments to Russia have been—1,077,000 tons
in the 19 months ending April 30—| Pub Serv
they have been small in comparison with Russia’s critical needs. He said the Russian army was supplied through Ilend-lease th
nearly 4,000,000 pairs of boots and|Std & &
21,410 tons of sole leather to keep
the boots in repair and to manu- Std Oil
facture new ones. Some 10,000 tons of seeds have also been shipped to the Soviet Union.
WAGON WHEAT Up to the close of the Chicago market napolis rs paid $1.54 (other : ellow’ .:3 white shelled corn,
or hail el on their
corn, 97
and for No. 1{
Exemption of Firms Employing Eight or Less Brings
Circumvent Order
troubles, such as the John L.
so many efforts have been made to circumvent the general intent of preventing in-
flationary wage increases that
the board has been compelled to make specific exceptions, and is ex-
| pected to make more.
These cases are regarded by board
officials as showing how quickly
wages would rise to infiationary levels if there were no government
: | control.
Especially proud of the honor was Herman W, Steinkraus, president and general manager of Bridgeport Brass Co.
FORM MEXICAN-U. §. FINANGIAL GOMPANY
NEW YORK, June 15 (U. P.).— An organization to promote Mexican enterprise has been formed by Mexican and American financiers under the name of Financiera Tecnica de Mexico, S. A. it was announced today. Set up through a concession granted under the general law of banking institutions and auxiliary organizations of Mexico, the company will furnish technical and managerial services in organizing and operating Mexican business, it was stated. Directors in the -new enterprise include. Julio Lacaud and Carlos Trouyet, of J. Lacaud y Cie, investment bankers of Mexico City; Antonio Espinosa de Los Monteros, director general of Nacional Financiera, S. A. Mexico City, and George H. Houston and Hendrik R. Jolles of the firm of Houston & Jolles, industrial consultants of New York City. Jolles is managing director of the company.
CRETAN GUERRILLAS WILL AID INVADERS
LONDON, June 15 (U. P.) —Gen. Manoli Mandakas, commander of a Cretan guerrilla army numbering several thousand men, notified the Greek government in exile today that his forces were waiting for the signal to strike an all-out blow. The armed patriots on Crete were said to be primed for an attack against the axis garrisons there gs soon as the allies invade the island. “Our people know that the hour of freedom is approaching,” Greek sources quoted a message from Gen. Mandakas. “They are ready to aid the allied armies. We only await orders.”
N.Y. Stocks hs Le ange
14% 10%
+++] |:
Am Rad & 8 8. 11 Am Roll Mill .. Am T & T ...153% Am Tob B .... Am Water W .... Anaconda 2 Armour Ill ..... Atchison Atl ‘Refining .. Balt & Ohio .. Beth Steel Borden Borg-Warner .. Bdgps Blass PI
RIEL LIL
Cons Edison ... 7 Cons Vultee Air 16%
Int Harvester. . . Int Nickel
Nat Biscuit ... Nat Cash Reg.. Nat Dairy N Y Central ... Noblitt-Sparks . Ohio Oil
Cal ... 38% (Ind). 37% NJ)... 56
3tudebaker .... 12 Swift & Co ... 26 [exas Co 49% Fimken R B ... 48 Un Air Lines .. 26% J 8 Gypsum .. 70 -. U 8 Ind Alcohol 36% U 8 Rubber ... 39% 39%
c 5 8136. 2
J Detroit.
Turn ‘Contractor’
The latest case involves a building service employees’ union in an eastern city, which has complained that its existence is threatened because some of its members saw a chance under the eight-employee policy of setting themselves up in business and providing destructive competition for the window-wash-ers and other building cleaners who stayed with the organization. _ The union, which has been held to the NWLB wage-control policies, signed an agreement with a master window cleaners’ association for wages of 75 to 95 cents an hour. Then some of the union members withdrew, set themselves up as contractors, and by keeping their employees below eight in number were able to pay more than the union scale—and because of the shortage of manpower were able to get much business formerly controlled by the union, ’ Many of the “independent” contractors were reported to be paying $1 an hour to window cleaners who work alongside other union members receiving considerably less. This, the complaint declared, produced discord and “is a dire threat to the existence of a legitimate labor organization,” because it “makes it extremely difficult for the union to carry out its functions and contractual relations with employers of more than eight persons.”
Quit Big Shops
Somewhat similar cases have been handled in two previous instances by ‘rulings intended to cover particular circumstances. On April 15 the board ruled that the entire shoe-repairing industry in the San Francisco region must comply with the wage stabilization program, thus abandoning the eight-employee exemption so far as shoe repairing in that area was concerned. It was found that repair men working in shops of more than eight employees were moving in large numbers to smaller establishments which could pay higher wages without coming into conflict with NWLB. Several months previously the board found it necessary to remove the eight-employee exemption from the tool and die industry in five Michigan counties surrounding
Precedent Set Up
In this case the board said it found “a very grave situation” involving “a serious shortage of tool and die workers, a great deal of
. pirating of such workers between
the various shops with many re-
3, | sultant abuses, such as brokerage
of workers.” Other ..results: were found to be *“unstabilized and inflationary wage rates threatening
2|the war production effort and the «|economic stabilization program.”
These two cases were expected to provide a precedent for disposal of the difficulty among the window cleaners and other building service workers. Regional boards have been given authority to authorize blanket exemptions where the stabilization program is believed
2 | threatened by pay increases offered “*a¢|or given by small shops in certain
industries.
Merchandise
RE- WEAVING
of MOTH HOLES—BURNT or WORN SPOTS - : LEON TAILORING CO. 235 Mass Ave. 5 riddle of
More Headaches to the Board; Many Seek to
of Oct. 9, 1942.
Times Special
WASHINGTON, June 15.—In additions to its big
Lewis coal case, the national
war labor board is getting a lot of little ones—each the potential producer of a headache. Many of these little troubles are born under its general | order 4, exempting from its jurisdiction wage adjustments by employers of not more than eight persons. That seemed f| simple of enforcement when it
was adopted Oct. 9, 1942, but
ERSATZ RUBBER POSES PROBLEM
Chemist Predicts Post-War U. S. Use of 200,000 Tons Annually.
: Times Special CLEVELAND, June 15.—America will use at least 200,000 tons of synthetic rubber annually in the years after world war II has ended in vic= tory. This is the estimate of Dr. Harry L. Fisher, director of organic research of the U. 8. Industrial Chemicals, Inc. Stamford, Conn. : He sets forth his views in a sure vey made for the American Chemical society. This survey serves to remind that synthetic rubber will present an extremely difficult economic problem in the days after the war, one that may have international repercussions.
High Goals Set
At the present moment, the .U, S. government synthetic rubber program is based entirely upon the necessity of replacing the lost sources of natural rubber. :
The program visioned by the report of the Baruch committee called for the production of 400,000 tons of buna S rubber in 1943 and a total of approximately 100,000 tons of other types of synthetic rubber. The goal set for 1944 is 845,000 tons of buna S rubber. Thiz amount would make us completely independent of natural rubber. If, then, the government program is carried through in 1944, we shall be in a position to produce four times the amount of synthetic rubber which Dr. Fisher thinks the nation will absorb under peacetime conditions.
Fears Seeds of War
Dr. Fisher warns that in his opinion any attempt to protect the post-war synthetic rubber industry by means of a high tariff barrier would be sowing the seeds of world war III Many authorities vision a triangular battle of rubber in the days to come with synthetic rubber pitted against the competition of the old rubber plantations in the Middle East and against new ones in tropical America. Rubber, as is well known, came originally from Brazil. Seeds of the rubber tree, the Hevea bra= ziliensis, were gotton out of the country, contrary to Brazilian law, by Henry Wickham, explorer and soldier of fortune, in 1876. In recent years ny attempts have been made e-establish the rubber-growing industry in tropical America. At the start of world war II, American companies were -€Xs perimenting with the production. of rubber in Panama, Costa Rica, Brazil and Liberia. “Hd 7A "CENT TREASURY oT a on 1943-45 , . NOTICE OF CALL FOR REDEMPTION * To holders of 3% per cent ‘Treasury Bonds 6f 1943-45, and others conerned: 1. Public. notice is hereby given "that all outstah 3Ys per cent Trea Bonds-of 1043-46, dated. October 15, 193 are hereby called for redemption on tober 15, 1943, on-.which date interest on such. bonds will cease, - : ¥iind regarding the pre-
2. Full information sentation and surrender of the bonds 8 Sot redemption under this call will be foun in. Department Circular .No. 666, dated July 21, 1941, : 3. Holders of these bonds may, ‘itt bo vance of the redemption date, be ‘of pi féred the privilege of exchanging all or any part of their called bonds for A interest-bearing obligations of the U i States, in which event public notice hereafter be given. ” © De eting Secretary of th Treasury, C retary o e TREASURY DEPARTMENT, br Washington, June 7, 1043. 3
ran
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