Indianapolis Times, Indianapolis, Marion County, 25 June 1943 — Page 21
A
INESS
Pork Chops Winning Battle Against Many Industrial Plants Using Corn
— hy ROGER BUDROW
IT TAKES A CRISIS LIKE THE PRESENT one to make us realize just how important some of the things
are that we take for granted.
Take corn for example. Scores
of corn-using industries are howling because corn is going into pork chops instead of to their factories. I suppose corn has not yet equalled the peanut in the number of ways it can be used industrially but: there: is quite an impressive list already. Corn starch is used in steel mills to hold together the sand foundry molds.
Industrial alcohol distillers use it' as their base material. That sizing and finishing that make new yard ‘goods or clothing ‘feel so; = smooth comes from corn istarch. Slick white paper is made that way with corn starch. The: same with the gumming on ‘envelope flaps. The paper
are big corn customers. There are many - other uses. The Mr. Budrow 0000 _industry] employs corn syrup in sweetening, curing and in retaining moisture in its products and now with gycerine prohibited, needs corn syrup more than ever. Corn: starch is used as a binder in explosives, as a filler in face powders and in cheap soaps. Cough
medicines use corn syrup. Rayon
makers. employ, corn ‘sugar. Corn starch is even used in curing meat and in ‘tanning. ; I suppose everybody knows that corn syrup goes into candies, baked goods and soft drinks, And it goes into baby food. This is the industrial line-up the farmers are snubbing by keeping their corn, feeding it to hogs, instead of letiing § it go at OPA ceilings. ” os 8
ALLISON ENGINES will be carried on a mechanized conveyor at the Lockheed plant in California to the. spot where they (two engines for every P-38
Lightning) are installed.
Lockheed also is putting into operation a continuously moving assembly line, moving four inches a minute, which will eliminate the present pauses. These improvements, Lockheed expects, ‘will cut. 40 per cent off the manhours per plane and double outpe: within two months,
® 8 = ALLIGATOR LEATHER for
Aghons pocketbooks, etc, may be-
come harder to get. Reason: Argentina haas declared a three-year closed season on hunting alligators (hides bring in $300,000 a year) because they've been disappearing so fast.
# 8 = * IT IS NOW revealed that Standard Brands, big food concern, ‘paid $1,300,000 for the Standard Margarine Co. of Indianapolis which it purchased last December. 8.8 8 ODDS AND ENDS: Beeswax is being imported from Central and South America to meet growing industrial demand. . . . Sponges are being made of wood and cotton pulp to meet the natural sponge shortage. .. . Farm population this year is the smallest since 1910. . . . Purdue says enough milk was lost by
. ‘careless handling last year to give
1116 soldiers a pint a day for a year. . . . Some Mexicans resent having their food sent to this counfry when they're short too. . . Pan American says it will haul ers from New York to Lon-
box] manufacturers|
«|today, Indianapolis flour mills and
INDIANA GORN PLANT CLOSED
Shutdown Blamed on Corn ‘Ceiling Prices; 1000 Workers Affected. CHICAGO, June 25 (U. P.).—The
| nounced today it would close its 40acre corn refining plant at Roby, Ind. tomorrow because of a corn shortage which company officials blamed on corn ceiling prices. Theodore Sanders Jr., president, said in a message to stockholders that suspension of operations will throw 1000 employees out of work. The situation; he said, is “without precedent in the 50 :years history of the corn refinining industry.” “Our difficulty,” he explained, “grises from the farmers’ natural unwillingness to sell us corn at the ceiling price of $1.07 per bushel, when a bushel of corn fed to hogs is worth at least $1.40 at the present price of hogs. Unless and until the ceiling price of corn is coordinated with the prices obtainable for hogs and other corn eating animals, it is not to be expected that this industry will be able to obtain corn to grind.” The plant at Roby has a grinding capacity of 40,000 bushels a day
and other corn derivatives, goes to industries handling war contracts. The announcement of the Roby plant closing followed by only a few days the suspension of operations at the Corn Products Refining Co.'s plant at Pekin, IIL Pekin, Ill.
DIVIDENDS DECLARED BY INDIANA - UTILITY
The quarterly dividend on preferred stock of the Northern Indiana Public Service Co. has been declared by the directors. The dividend is payable July 14, 1943, to stockholders of record at the close of business June 30, 1943. The payments will be 1% per cent, or $1.75 per share, on the 7 per cent preferred;. 172 per cent, or a $1.50 per share, on the 6 per cent preferred, and 13% per cent, or $1.37% per share, on the 5 per cent preferred stock.
U. S. STATEMENT
WASHINGTON, June 25 (U. P.).—Government expenses and receipts for the current fiscal year through June 23 compared with a year ago: T Las t Year
his Year Expense .$76,020, 408,153 $31, aS 397,984 War ing 70, 1219, 400,244 25,147,455 ,328 Receipts .... 20, 965.3 313,061 a a 804,123 Net deficit ... 55, 1051, 719,691 18,820,320,011 Cash balance. 9, 664, 790, 389 1, 89s, 007, 281 Working bal.. 8, 1902, 129,089 * 33,584.3 50 Public debt ..139, 924, 968, 482 74,094.546870 Gold reserve .22,381, 274, 476 22,734,422,132 ————
INDIANAPOLIS CLEARING HOUSE Clearings
WAGON WHEAT Up to the close of the Chicago JATkOt| I elevators paid $1.42 per bushel for No. 1 red wheat (other grades ¢ on their merits), Nox 33 whis oats, . 2 red vats: ow heed corn,
don by air (after the war) for $100.
MECHANICS WANTED
Fol Exciting Soiese Overseas as Warplane Repair Men
i you have had two
mechanic—or the equivalent in practical shop ‘training—here's how you can serve America,
learn a trade with a premium pay:
A large airplane manufacturer needs men to serve overseas in non- -combat areas as aviation
“mechanics.
"No aviation experience needed: you will be paid during the 8 weeks training, then upon satis-
factory completion’ of.
increased to overseas rates. Transportation from" your home to Memphis, Tenn., for training will
be paid.
3 3 n ao nd 2 white shelled Fy ok he
years experience as a
great future, and earn
the course your pay is
American Maize-Products Co. an- G
and its output, consisting of starch{c
. Classes Now Starting
+ You an start training now,.so apply immediately,
If you are not now in a war job or agriculture,
you can serve your country by: keeping her warplanes flying. Apply today.
~ See Mr. Hayoz, 4th Floor
United States
Employment Service 8. East Market Street, Indianapolis
Ii fast and’ even faster. The farmer
. o e ia Sie SRS SPL NS eR CS an
PRICES ON HOGS REMAIN STEADY
Porkers Weighing 200-225 Lbs. Bring $13.95 top; 9675 Received.
‘The hog market was steady to strong at the Indianapolis stockyards today, the food distribution administration reported. The top for 200-225-pounders was $13.95. Reecipts included 9675 hogs, 275 cattle, 375 calves and 225 sheep.
-HOGS (9675) 120- 140 pounds
140- 160 pounds 160- 180 pounds
.e. [email protected] . [email protected] . [email protected] [email protected] . [email protected] [email protected]
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- 400 pounds ood— 400- 450 pounds 450- 500 pounds Medium— 250- 550 pounds Slaughter Pigs
Medium and Good— 90- 120 pounds
CATTLE
sessesvsene
«oe [email protected] [email protected]
[email protected] (295)
Chol oo 900 pounds 900-1100 pounds 1100-1300 pounds 1300-1500 pounds Good~—
700- 900 pounds
5.50818
sseessvsssss 16. 00@16. 15 vesscnssss [email protected] 800-1100 pounds . [email protected] 1100-1300 pounds [email protected] 1300-1500 pounds .... veo [email protected]
Medium— 700-1100 pounds ...cece..... [email protected] 1100-1300 pounds « [email protected]
Common-— 700-1100 pounds [email protected].
Cholce— 600- 800 pounds ...... Sass 800-1000 ies cesve rene rs Good— 600- 800 pounds ....e.e0.... [email protected] 800-1000 POUNAS ...ev.e0s00. [email protected]
Medium— 500-900 pounds . [email protected] [email protected]
COMMON cose evsgese 800-: 900 pounds coseve
Cows (all weights)
Bulls (all weights) (Yearlings Excluded) Beef Good Sausage— Good. (a (all weights) . Medium
. [email protected] [email protected] [email protected]
cesses
CALVES (373) Vealers (all weights)
Good to choice Common and medium Cull (75 lbs. up)
Feeder and Stocker Cattle and Calves Steers
Puss
Chol 500- 300 POUNAS ..ovevsarones 14. nals 3001050 pounds .:..eeecee..s 14.50@15 000— 500- 800 pounds 800-1050 pounds edium-—-500-1000 pounds Common500- 900 pounds
Calves (steers)
Good and Choice— 500 down .eee.
1: $921 50 cessssssecse [email protected] [email protected]
15.009 16.50 « [email protected]
0 pou esa 500 pounds down
C tes (heifers)
Good and Cho
500 pounds or. I A A y a; oun [email protected]
500 pounds down 12.76@ 14.50 SHEEP AND LAMBS (225) Ewes (shorn) Good and choice 6.00@ 7.00 4.50@ 6.00
Spri: Good and choice Medium and good Common
Lambs (Shoin) Good and choice...... A Medium and good..... Seavey es Common
GRAIN FUTURES. RSE IN ACTIVE TRADING:
' CHICAGO, June 25 (U. P.).— Grain futures scored major advances in active trading on the Board of Trade today, influenced by indications that commercial corn value will be aligned with feeding value. At the end of the first hour wheat was up 7% to 1 cent a bushel; corn unchanged at OPA limits, oats up 1%, and rye up % to 1 cent. Overnight developments by the war food administration ‘toward solving the corn deadlock had a stimulating effect on all markets, prices opening strong and retaining gains.
DAILY PRICE INDEX
NEW YORK, June 25—Dun & Bradstreet’s daily - weighted price index of 30 basic commodities, com= piled for United Press (1930-32 average equals 100): | : Yesterday - «.eese-cnsesmers.. 17000 WEEK 880 ..oceesrssneresre. 17028 Month 880 .eccsvrevecnesses 17074 Year 880 ....coe.ers fernsede 154.53 1943 High (April 2) ......... 17240
of essential farm buildings, other
Leo J. Rexing of Vanderburgh
county, a three-time wheat cham-
pion, is shown holding an armload of the grain which brought him
a -triple. crown,
Leo Rexing' s 35 Bushels / Per Acre Tops for 1943
Leo J. Rexing of Vanderburgh
county, ‘who has. operated his 122-
acre Pear Orchard farm north of Evansville for 24 years, has been adjudged by Purdue university experts the grower, of the finest Wheat in
Indiana on a 10-acre tract in 1943. His yield was estimated at 35
bushels per acre, which is ‘not a
record, but the quality was the highest in Indiana. |
There were several hundred enies in ‘the contest, which was judged from the standpoint of quality of grain and freedom from weeds. The : contests are sponsored by Purdue’ university and Ingleheart Brothers, millers, and originated about seven years ago in Daviess county, from which they spread to other parts of the state. War bonds are awarded as prizes to county, district and state winners. Mr. Rexing has begun harvesting his crop and is confident the yield will exceed the estimated 36 bushels per acre. He is growing 50 ‘acres of wheat
which he planted last fall after|g
turning over a stubble of soybeans. He used a commercial fertilizer of 0-14-17. In addition to his Pear Orchard farm, he also operates the Knowles farm of 100 acres. He'is the father of 10 :children—six boys and four girls.
FARMERS ‘GET NEW LUMBER PRIORITY
Farmers are now eligible for AA2 priority ratings for obtaining lumber for construction of essential farm buildings, L. M. Vogler, chairman corn {of the ‘Indiana farm war board, revealed today. .
Under the new . regulations the |x"v state has been allotted twenty and Nob
a half million board feet for the period ending September 30; which can be obtained only with an AA2|Z
rating. This supplementary allotment
{must be used only for construction
than dwellings, and cannet be used by dealers: to build up their stocks, or for any. Jbut agricultural purposes.
FIRM TO REFUND $4,500,000
‘PITTSBURGH, June 25. (U. P.) .—- The Blaw-KEnox Co. will refund $4,500,000 to the government during 1943 undér renegotiation of its war contracts ‘with the navy price ad-|y
1943 Low (Jan. 2) ....eeeeee 166.21
\Farmers Better ‘Than in 1918, Patman Says
* “Farm prices have risen 110 in 1939,” Mr. 'Patman said. “This
“The ‘farm / price of 58 foods has | increased 121. per cent since the war began, compared to an increase of 72 per cent in the corresponding period o of the last war. ‘What is’ ‘even more important, while the prices that farmers received in ‘the last war went up, the prices that he paid went up just as
was getting 40 cents for cotton for a brief period, but during that period he was paying 30 cents for sugar, and 60 cents for coffee. This time he is paying 7 cents for sugar and 29 cents for coffee.
Steel Products Were Higher ‘
‘WASHINGTON, June 25.—Farmers are faring world war I and are in far less danger. of being bankrupt afterwards,
according to Rep. Wright Patman (D. Tex.). per cent since the outbreak of the war
percentage | rise than that which occurred during a comparable period in the last war.
“Inthe last war" the price of steel
justment board.
Off Now
better now than in
is a substantially larger
to ‘$94 a ton. That a cultivator which in 1915 could be bought for $5, cost twice as much in 1918. “Overalls which in 1915. cost 75 cents, cost $157 ‘in 1918. Shoes jumped in price from $2.10 to $4, and they were not the same shoes by a long shot. “Control Has' Saved Billions” “During the last war all the prices that farmers paid rose an average of ‘106 per cent. This time the in‘crease has been held to 30 per cent.” The" present system of price. control has saved billions for. the farm-
"Allis-Chal
i]:
N. Y. Stocks
Net Last Change 23s 157%, 39% 87% 15% 11 15
Low 2% 157 392 87 15% 10% 14% 153% 153% 60's 60's 7" Hip 27% 5%
High 212 151%
Allegh Corp ... Allied Chem ..
Am Rad & 8 8. 11 Am Roll Mill .. 15% Am T & T -g--183%
Au Refining ... Balt & Ohio ... Beth Steel .... Borden Bagi: Brass .
FHF FE + Pl
Cons Edison . Cons Vultee Air 7 Corn Prod .... 56% Curtiss-Wr A ww 322 Dome Mines ... 20 Douglas Airc... : 68% East Kodak.. 1i185% Elec Auto-L.... 38 Gen Electric .. 38%. Gen Foods ..... 4 Gen Motors ... Goodrich 40% Goodyear ... Ind yon ..... Int Harvester.. fut Nick
i FELL
ickel
Johns-Man ... Kennecott Kresge SS .... Kroger G & B. L-O-F Glass .. Monsanto Nash-Kely ... Nat - Biscuit ... Nash Cash Reg. 2
IA: bbb: Fb]
“tb
St Jos Lead.. Sears Roebuck. Servel Shell Un Oil." Std Brands ... Std G& E Std O Cal...... Std Oil (Ind).. Std Oil (N J).. Stusebaker enw Swift Co.. Texas & Timken R Un Air Lines.. U 8 Gypsum.. U 8 Ind Alco. .
te aT 0 ee WEES NANA
West Union’ Westing El Woolworth .... 40 Yellow Tr ..... 17 Sheet .. 37 Rad .... 34%
Youn Zenit!
Investment Study Pays
RI
FE
Freer
-
i Send-a copy of your we/norandum i I forinvestorson
ADDRESS
. | beef cattle. », | packing companies reported they
Plastics Industry. I
: WE NAME : 1 Lo ed
MSON 4 MeRINNON i
[BEEF SHORTAGE MAY GET WORSE
Marketing of Cattle Drops. About One-third; OPA Policies Blamed.
WASHINGTON, June 25 (U.P.).— The United States, with record num-
bers of cattle on farms and ranges,
today faced an intreasingly serious shortage of beef, according to re-
ports to the war food administra-
tion. “Both government and private livestock and slaughter officials said the shortage may become acute before
|the flow of beef to market can be
increased.
Packer representatives, meeting
‘there with the food industry war
committee, blamed the office of price administration and the roll back of retail prices on beef. Government reports show that marketing of cattle has dropped approximately one-third since the rollback order.
Corn Seizure Ordered
Concern over the beef shortage increased as the WFA prepared to
‘requisition corn stocks at terminal
market elevators in the grain belt to alleviate a shortage of materials in corn products manufacturing plants, - Orders for the seizures are expected to be in the hands of most U, S. attorneys at principal grain market cities today. The house agricultural committee
voted, 18 to 8, to take all food ra-
tioning and pricing powers away from the OPA and place them under War Food. Administrator Chester GC. Davis. The food industry, war committee, seeking a duration food program, decided its efforts would be meaningless until the divergent powers of WFA and OPA were consolidated. The war meat board, meeting in Chicago, recommended that large packers be allowed to increase their deliveries of pork to civilians by 10 per cent during the next three months to counteract in part the reduced supplies of beef. WPA is expected to accept the proposal.
Packing Plants Close
Farmers are marketing from their record number of hogs from 5 to 10 per cent more than a year ago, reports to the WFA showed despite recent declines in the price of hogs. The marketing .of sheep and lambs, however, continues smaller than a year ago. Meat counters in many parts of the country were said to be low on beef, with many choice cuts not available. That was attributed in part to the government set-aside order taking 45 per cent of the better cuts of steer and heifer beef for military and lend-lease uses. Several northern California pack-
?| ing companies were reported to have
closed because of the scarcity of
were unable to obtain enough beef
a to keep their plant in operation.
Airplane & Marine Instruments,
‘| Inc., 1942 net profit $121,127 or $1.06 ‘la share.
Some midwestern meat |N
Women Work as Iron Analysts
HIBBING, Minn, June 25 (U. P.).—Iron ore laboratories of the Oliver Iron Mining Co, a U. 8. Steel Corp. subsidiary and largest producer of iron ore, are employing women as analysts, to replace men now in the armed forces, the
parent company reported. Training courses in laboratory manipulations at local schools supplied most of the women now employed. The first group of trainees consisted ‘of 24 women, some ‘of them college graduates and others college-trained in home economics or medical technology. Prior to the opening of the ore shipping season, the trainees worked on short shifts in order to become familiar with their laboratory duties which are essential for the accurate grading of iron ore cargoes for steelmaking facilities of lower lake ports, the company said.
Local Tool Firm Is 25 Years Old
The Wallace Tool & Die Co. 1705 Lafayette rd. is celebrating ts 25th anniversary this week. A
picnic for employees and busi~ ness associates is planned for tomorrow. ; The firm has progressed from a small one-story, one-man shop to its present position of operating two modern’ paints, employing 150 engineers and .craftsmen,
LOCAL ISSUES
Nominal quotations furnished by Indl. anapolis securities dealers. Bid Asked Agents Fin Corp co! 1% Agents Fin Corp pd *Belt R .Stk Yds *Belt R Stk To 6% btd Bobbs-Merrill Bobbs-Merrill 5% od oo... *Circle Theater com *Comwlth Loan 3% pid *Hook Drug Co *Home T&T Ft Wayne 1% pid 511% Ind & Mich Elec % id . 11 Ind Asso Tel:5% pfd ...... . : Ind Hydro Elec Sa iiss Wess Ind Gen Serv 6% . *Indpls P & L 5%% Indpls P &.L com .... Indpls Rlwys Inc com > *Indpls Water pt Indpls Water Guus A com ... Lincoln Loan Co 5% via Lined Nat Lite. Ins. co Ind Pub Serv 5%2% oa. oN Ind Pub Serv *N Ind Pub Serv 79 P R Mallory com Progress Toundry “ease Pub Serv of Ind’ Bor pr Pub Serv of Ind com So Ind G & E 4.8 pfd *Stokely Bros pr pfc United Tel Co Co 8% - Union Title. com .. Van Camp Milk pid’. Van Camp Milk co m a.
Algers Wins'w w BR 4%%.. American Joan 5 American ‘Loan Cent Newspaper e171 4-51 Ch of Com Bldg Co 4las si... ve Citizens Ind Tel 4%2s 61 ......1 Consol Fin 5s 60 sens Ind Asso ‘Tel Co 31, HO. nes L 3%s 70
110 omo . Kuhner Packing Co a0 101 Morsis oko Sto s 8
1,8 55 84 Pub Be of Ind 3%4s 73 104 Pub Tel 46s 55 - 101 Richmond Sater Wis Bs 57... 18 ..
Trac Term ih Corp 5 57 C. 8. Mach orp. 5s *Ex-dividend.
82 100
21ing for better prices.
4 A medium,
ASSAIL SUBSIDY PRICE CEILINGS
Committee Charges - C Program Wipes Out -
Profits.
By DANIEL M. KIDNEY Times Staff Writer WASHINGTON, June 25.—F bloc forces seeking to halt OPA subsidies and to substitute a pr “roll-up” for the “roll-back” augmented today by powerful resentatives from all levels of food processing and distributd business. Calling themselves the food in: dustries war committee, they came oat for puncturing the OPA p ceilings and for giving the U. S. f@ administrator complete power prices, production and distributio President Clarence Francis General Foods, the commit chairman, ‘said OPA roll-back subsidy programs were wiping profits, and that unless they halted the food processing and tribution system would break down
“Two Years Late”
“Two years ago a freeze and ho the-line order by the administrati could have been effective,” Francis said. “But now balance mt be restored before effective pr freezing can be carried out.” He conceded that any ‘gener food price rise might have to bf accompanied by wage and sal adjustments, even to the point; of violating the 15 per cent little ste formula of the war labor board. “OPA is full of defects and efficiency,” he charged. “It is na operating in the public interest, ani it forms a barrier to productions
Beef Herds Held Back
A simplified system of rationing could cut down the 100,000-person manpower waste now caused handling OPA stamps, he said. Victor Norton of the Cudal Packing Co., a member of the com 1 mittee, said the OPA meat boi established in Chicago. was an i telligent step in the right dire i” ON) but that it had been checkmai by OPA roll-back and subsidy © ders before it ever had a chance ; function. ; He said farmers and feeders v holding back their beef herds, hop “They are no keeping them on the farm because they are nice pets named Nelly,” he declared. :
LOCAL PRODUCE"
avy breed hens, 2413c; Leghorn Broilers, fryers and roasters, under bs.. 27%sc.
pir To
Old roosters, 16c. JE EE Current receipts, 54 lbs. and
Graded s—Grade A large, 386; gradi 6c; grade A small, d6c:
grade, '32c. 2 Butterfat—No. ha
Butter—no, 50c. 49c; No. 2. or
R. C. Williams & Co., Inc, Vi hr ended April 30 net profit $208 or $1.07 a share vs. $306,929 or a common share previous fiscal tr Hawaiian Agricultural Co. 1043
National-Erie Corp. 1942 net profit $346,996 vs. $275,690 in 1941,
net profit $282,414 or $2.26 a s vs. $273,848 or $2.19 in 1941,
WHAT DOES
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