Indianapolis Times, Indianapolis, Marion County, 7 July 1943 — Page 18

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WEDNESDAY, JULY T, 1948

BUSINESS

Farnswerth Turns $7.000.000 of War Profits Back to Government

By ROGER BUDROW

THE

the war

profits made hn

Ft. Warne under the

Corp. of

done law calling for

when profits appear Even so 250.000

for a

after paving taxes. share against 46 cents President E. A. Niche

holas is get his excess pt

trying base won't

n AB ke OLS

{1&X he federal taxes Mr. Nicholas is about

company s

) savetm chia ASIC

must 1 emain inate to 1S product tion bene-

stantial a eX

‘an Active ejeceering raqQio

after the

not iced

about

Secl

INCIDENTALLY h he flood of advertisements

Since the

RIK

ave you

ANOTHER PREDICTION has sone awry. When the Indiana legislature cut the state gross income fax on retailers, there were predictions aplenty that Indiana would suffer because of the drop in tax collections, What happened? In the since the reAaffers’ tax was cut, collections went higher, instead of going down. In the first half of the vear, collections were lower but apparently the war more than made up for that.

first year

~ = =

obDD AND ENDS

Q rr Bl

£80.000 government

MAAN EY

Campbell, Wyant & Cannon Founary Co. March quartet £370.398 or

£368 387 oO!

net profit

shale Vs

post-war

COVERNMENT TOOK NEARLY £7.000,000 of Fay its annual report reveals.

nsworth Television and Radio This was renegotiation of war contracts

unduly large. the company made good money.

Profits (after reserve) amounted to equal to B83 cents a

sa That on

a share last vear.

SCAB EPIDEMIC FOUND IN WHEAT

Other Grains Affected. Too; State Experts Help Growers.

worst epidemic of scab in fs damaging the quality and ng the vield of wheat in many secti of Indiana, especially in the central part, Purdue university specialists reported today Shriveled, light grain on partially completely blighted heads is the result of the disease which Is attributed to warm, humid weather of late May and June. Oats, rve and barley attacked, and the same disease cau a red rot corn. Barley particularly likely to be damaged

in epidemics as severe as this years

The years

ons or

are also es of

Toxie to Animals

Serfotts as the loss of grain is important with this scab beet shown that g more than 10 per bbed Kernels is toxic or injurfots when fed to hogs, horses and mules. Usually hogs will starve themselves before they will eat such Horses and mules refuse to Cat sheep and poultry such diseased bar ley withapparent harmful effects. reason to believe scabbed to Bhitals have Mmaucted to determine if thi Until more definite KNOW. obtain fanners Should wheat in

another connected It has

contain

there is more dan disease Barley

oer

cent sea

tie,

Sala LNA

toxic

expel in

Also Be

Been of edee S tv Hs t extensively,

Experimental Feeding

way a farmer can find the scabby wheat can be fed safely to hogs or other livek Is By cautious feeding trials a small number of animals over a period of two or three weeks If no bad effects are observed he would then be justified in feeding it to the entire herd. Possibly it can be used when diluted with other grain such as corn Scabbed grain Mav cause nausea or vomiting, in which case feeding be discontinved. NO cases animals dying as a result of eatscabby have ever been

The only out whether Qt oc

with

<hion auld gram

low yielding fields of scabby wheat iid Be pastured or can only be determined by the farmer. The plump wheat that can screened from the led grain is suitable for commercial purposes and seed. All varieties wheat are although thev mav of damage done

shot

harvested Ye

shrive

of differ in

cab

severity

United States Finishing Co. 1042 rofit $413,307 193.048 in

Met 1¢

VS.

BUSINESS DIRECTORY

EIR LIES

of MOT R ORN Noh RNY

LEON TAILORING 0. 235 Mass Ave, 13 'he Middle of

the First Block

and Service

Ee ——— You Save Becanse We Save Men's Suits & Overcoats

‘16° ‘18° a0" 20°

CASE CLOTHES

213 N. Senate Ave. Open Sto

y LEVINSON #STRAW HATS

#“The conlest thing under the san”

- 31S £49 : 1 a 2

THREE STORES

FUR COAT STORAGE] Phone FRanklin 2581 % 00

For Bonded Messenger Insured v ie

MARILYN FURS

20 E. OHIO ST.

SHERWIN EE

a Pa for Bway COSTS LESS Lasts Longer.

VONNEGUT" S

WE Buy Diamonds

BIGHEST Sain PRICES Go.

STANLEY Jewelry Ct

"USE YOUR CREDIT at VIEOISHIHNES

131 W. Washington St.

Directly Opposite Indiana Theater

FUR COATS

YY a

aroeoest

the Stale

INDIANA au AU

Fact WASHINGTON

WASTE PAPER

AMERICAN PAPER STOCK COMPANY RY. 624 320 W. Mich.

112

TRY A WANT AD IN THE TIMES. IT WiLL GET QUICK RESULTS.

—

113 W. Wash, Lincoin H

ASKIN & MARINE

rood Utothes, kasy Credit 127 W. Washington St.

WHEEL CHAIRS Why Buy One? Rent One At HAAG'S ALL-NIGHT

DRUG STORE 22nd and Meridian

We Buy Usable Wire Garment Hangers at 10 per bundle of 19.

| Citizens In

oo. 93 {Ing Asso Te) & 3058 10 .. 106 | Indpis P & L 3

oo. -

HAMMOND ORGANS ® Erelusively at

PEARSON'S, 120 N. PENN. | §

roads paid compared with $377.791527 in the

income,

was $128169020, compared with a Porkers Weighing 200-210 Lbs.

net $109 667.562 in May,

of May £601,063. 798 operating expenses totaled $454381.-|

704 compared the same month in 1942,

tion for the U.

| Bobbs-Merrill com

i Li

1 Cent New |

(NI

RAILROAD NET PROFITS RISE

Industry Groug Estimates 166 Million Increase in First 5 Months.

WASHINGTON, July 7 (U. P) Estimated net income of class I railroads of the United States in the five months ended May 31 amounted to $377.600,000 after interest and rentals compared with $211.538.528 in the year-ago period, the Association of American Railroads reported today Net railway operating income before interest and rentals was $326.228.148 against $432945839 in the five-month period of 1942 the association reported The rate of return on property investment during the 12 months ended May 31 averaged 608 pe! cent compared with 4.10 per cent in the preceding 12 months, Taxes Double

Total operating revenues for the five months were $£3,589.202997 compared with $2857071611 in the 1942 period an increase of 35.3 per cent Operating expenses amounted

$2.178.613872 compared with $1.77

700.428 in 1942 a rise of 225 per

cent,

In the five months of 1043 the £745,121. 013 in taxes,

1942 period.

for the month of May, the class

I railroads had an estimated net income, after interest and rentals of $85,100,000 compared with $63,668,283

1942. Net railway operating before interest and rentals

in May,

operating income of 1942 Operating revenues for the month totaled $£739.330. 727 against

in Mav, 1942 while

railway

with $37544789% in

IN BRIEF—

Cornelis F. Kelly, chairman of the board of the Anaconda Copper Mining Co. was paid $201356 by the firm in 1942 the company's annual report to the securities and exchange commission revealed to-

dav.

» = = Subscriptions to the $2,500,000, - 000 of '¢ per cent treasury notes of 1947, “Which were offered last week By the treasury, amounted te £19,344000.000. fr 05

The OPA told easterners that va-

cation gasoline ration would be dependent on the cal rationing boards.

“generosity”

= =

The magazine Steel reports that the production of tin plate will be ample for major vegetable crops and all other highly rated foods this summer. Tin plate capacity now is rated at 4,300,000 net tons annually, Production for the current vear, however, will be limited te 2600000 tons, or approximately 69 per cent. 5

5 The United Airlines application to

acquire controlling interest in the

Mexican airline, Lineas Aeras Mineras. 8 A. has been recommended

examiner for the eivil aeronautics board, airline officials The line includes 1700 route miles through central Mexico, » = =

The war labor board has ordered its standard maintenance of membership clause included in a contract between MceQuay- Norris Co. St. Louis, and the United Automobile Workers (C. I. 0). The company employs 2300 in seven plants at St. Louis, Indianapolis and Connersville, Ind. » ® »

America’s victory ships will be larger, more powerful ang better, equipped than the 1942 model of the Liberty ship, according to Col. W. F. Rockwell, director of producS. maritime commission. 4 4

Mmstallation of “seasick machines” which simulate the roll, pitch and vaw of a4 ship at sea, is being made | in the new testing room of the Package Machinery Ce. Springfield, Mass. The machines are used for testing gyvro- A for the navy.

LOC AL ISSU ES

Nominal quotations furnished by mdianapolis securities dealers, Bid Askrd Agents Fin Corp com Agents Fin Corp pd ‘Belt BR Stk Yds com . i Belt R St Yas 6¢% pra .....

| Bobbs-Merrill 4157; Prd ....... | Circle Theater com omwith Loan 5° prd

| Van Camp

Me prd Van camp

fk com Bonds

Alert Wint'r W RR 47%... erichn Loan 5s 51 9 American Loan 5s 46

Bh has 42.3

100 nm Ch of Cam cH: 5 82 108 Consol Fin 100 28 1 SY : Indpls Railways Co 6s 67 ... HHH are: eo 3155 66 Kokomo Water Wo 5s 38 | Whiner Packing Co Alas 48 Borris 5 & 10 Stores 5s 5¢ N Tha Bab Water Works 3s 68 | Fab I a As

Pb LE of k: He

™™

The Indiana Oxygen Co. for cuttihg armor plate for such plants as E. C. and many other producers of plate for planes,

THE INDIANAPOLIS TIMES Local Firm Makes Flame Plate-Cutter |

MAY WAR OUTPUT

33 S. Delaware st,

PAGE 17,

tank s,

the steel from a precision pattern instead of a metal cutting tool.

HOG PRICES SAG OPA Allowed to Fix Ceilings 9 T0 15 GENTS

Prices on most hogs dropped 3 to s at the Indianapolis stock-

13 cent vards, adminis for to $14.

Receipts inclu cattle, 873 calves

14 150- 1 180200- 22 220280- 2754 3%. 3

300 330

Good t 250- 3 300- 3 330- 3

J606-

300-430 430- 500

of lo- Medium

250- 350

Medi 80-

um 120

Cholce— %00- 900 800-1100 1100-1300 1300-1300 Food —

T00- 900 Bou 300: 1100 po 1100-1300 po 1300-1300 POL m —

Medin 700-1100 1100-1300 Common 700-1100

Cholee— 600-[00-1%

susceptible to gar approval by J. Francis Reilly, Good—

600- 80 800-100

reported. Medium

500- 90 common 8

00- 900

Good Aedium Cutter a

Good to Common au 7s

200-

800 po

WASHINGT ON, authorit standards is incl conferees The senate late vesterday against appropriation passed last week fication was made Administrator

Bring $14 Top; 9000 Received.

ban

modi Price

food distri%’ tion The dropped

today the tration

210-pound

reported. top

porkers

ded 1100

heen

8600 hoes names

and 1000

may 23 Isting

HOGS (R60)

a: He explained 0 instance, Various 5 women's for

| the

m ce 0 ma The

“would be permitted commodity 25 ternative exists tive price certain commodity. A 12 30% 13 0p Out that the war production board pOUNAS L....n 12.754 12 already standardize modities,

MOST GRAIN FUTURES DROP IN EARLY TRADE

CHICAGO, rye maintained on deliveries eased shortly the end of the first

a ¥ Bounds Slaughter Pigs and coed - poun CATHIE (ron) Steers

ness

Other

poun pounds

ds 3.3 Nad

00m 13 8 *} to

Hellers 00418 ND Nanna ¥

0 pounds 0 pounds

0 po 3c. pounas Will Cows (all weights) grade,

9c;

and common

Balls (all weights)

Op (Yearling: Excluded) today,

elevators paid $1.49 per bushel red wheat

No. 0c; AW pushel and « "

ommon CALVES a'») Veaters (All weights)

choice 1300213.30! and medium 12004 14.50 ibs. up) 8.3091200]

Feeder and Stocker Cattle and Calves |

Cholce—

500- 800 800-1050

Good —

30s. 800 pounds ........... i 1050 pounds

Medium

500- 1060 pounds

common

500- 900 pounds

Steers

. [email protected]

pounds [email protected]

pounds

14.00@14 78 13.75@ 14.50

[email protected] [email protected]%

Calves (steers)

Good and Choice—

500 Du Mediun $00 pou

15008 18.50 13.502 15.00

nds down

nas down Calves Cheibers)

Good and Cholce—

300 pou Medium 500 pou

SHEEP AND LAMBS

Good an i Corimon

Good and chdice

Medium

! Com mon

nv estment Sindy Pay .

FREE!

1 Send

. foriny

nds down LL... [email protected] 12.75G 14.50

(19480)

nds down

Ewes (shorn) d chéice and choise

Shrine Lambe

800% 700 $30 600

13.734 14.30 12.304 13.30 1 00 @12.23

and good

a copy of your memorandum estorson the Plastics Industry.

NAME

ADDRESS

MSON & MOKINNON “ ohn Prineinet B Ho pad

re lenRane hat PRG yo

Brown. Senator author modification OPA fn restriction

of the amendment om ordering

ol “However, necessary be computed in re

market

imum stand

was up wheat off

old rooster 8 Eggs —Current

Graded Fegs Grade A an A Medium 32¢ Butter No

2 white

On iy

July

7.60 Vv to set nuded in are working on today

the ne

labelin and I'he request of

grade g on Prentiss Robert A. Taft (R. 0) said the still would prohibit elimination

and brand

or of trade merchandise in it Is prices lation to ex-

where “ceiling

cases he said, standards of quality.’ that OPA may, place maximum prices on quality of hosiery, providing a lower grades failing to meet ards administrator also to standardize a practicable alsecuring effecwith Taft

for

standards

price Lf for oJ 0”

contre respect

pointed has

widespread” to

manufacture

power of com-

(U. P independent the board of trade and other after

July 7 firmtoday grains the opening hour % to off 1 cent a 5 to off 1%

bushel,

LOCAL PRODUCE

Heavy breed hens

24'%¢e; Leghorn hens

fryers and roasters, under §

18e

receipts, 34 Ibs. and vp

ge 38c; sma 2

grade

36c; grade A 6c; no

No. 1, $0c Butterfat—No. 1 2. 4%e

WAGON WHEAY

to the ciose of the Chicago market mdianapolis flour mills and grain

for No (other grades on their merits), oats, §0c, and No. 2 red cats, 3 vellow shelled corn, 97c

pe and No. 2 white shelled corn, $1.18

Ww comme

July

rve f

and oats off ¥

OCC CL INA DY A NAN TAA TS

manufactures this oxv-acetvliene shape cutting machine Atkins & Co. Fall Creek Ordnance, Metal Auto Parts Co. guns and ships,

This machine uses a flame to cut

Standard Basis

a of prime adthinistration

oRity credit corporation legislation

adopted an amendment modfyving the flat

andardization carried in the OPA

N. Y. Stocks

Net Close C Ay

Low Ya

High ah} 24 A 1% Tx

5 r 8 r

, forts for *s the contrary, A selves to meet calmly and steadily jnayguration of the plan, expressed

2 ni

‘R

A \

Do Wh e Mines . 1as Aire Chem Kodak Auto-I Electric Gen Foods Gen Motors Goodrich

Elec Ge n

Bt wr BR r,s, GB BABS BABS D

“RR Dodge

Bo WwW

ry »

naw

Gypsum nd Alcohol Rubber S Steel West Union Westing El Woolworth Wrigley Yellow Th Young Sheet

— PN Ba

* nance, down 3 per cent:

. actually

‘DISAPPOINTING’

Nelson in His 11th Progress Report Notes That U. S. June Production Also Dropped Off; Total Munitions Virtually a From April.

WASHINGTON, July 7 (U. P.).—Reliable quarters said today that the war a pace, which slackened enough in May to become a “serious matter,” would also be disape pointing in June. Total volume of munitions produced in May was vite tually unchanged from April, War Production Board Chaire man Donald M. Nelson reported in his 11th progress report, | But, he noted that production of army ground ordnance and

equipment declined 3 per cent! from the April output, while | S -AFRICAN t 8

miscellaneous munitions ‘dropped 7 per cent. He said that a further rise ‘of 5 per cent in the output of ‘aireraft and aircraft equip- = ‘ment, and deliveries of naval U.S. Official Tells Exporters

vessels i xeess of 200,000 i A a To Expect Resumption of

‘digplacement tong were oulPrivate Dealings.

‘standing May gains. Nelson revealed his concern over the production picture. He said NEW YORK, July 7 (U. P.) «The that it is evident now that during Promise of private trading with ‘the remainder of 1943 the nation NOrth and West Africa, at least on | will have to draw upon accumulated ® limited basis, has been held sut | excess inventories of steel, copper, PY Hector Lazo, assistant directo aluminum and certain components Of the board of economic warfare. to meet the vear's production goals. | Talking to exporters here yesters Production increases, he said,|d8y Lazo said that the BEW has |must continue during the rest of constantly striven for resumption of 11043 at the average achieved so far, Oral trade relations with those African sections but that military necessities have forced temporary such bans on private trading in such a areas,

Warns of Future

“A slackening of the pace, as occurred in May is, therefore, i very serious matter, since it places, However, plans are presently upon the remaining months of the under way for at least partial res vear additional strain in a period sumption of private commerce with when production difficulties will Importers in both North and West multiply because the industrial ma- Africa. chine is operating so ciose to ca- “Foreigners Grab Business” pacity.” he said th reply He called for the seiting aside of yo1005 of the government's sos personal and group interests “or called plan for decentralization of we are on the verge of one of the ayport dealings with Latin America, greatest trials in our national his [as6 said it must be made to work tory.” or the alternative is direct goveris “We cannot afford to relax our f= jyentato-government trading. an instant.” he said. "On gome exporters, viewing the des we must prepare our- cine in Latin-American trade since

to criticism by the exs

South American (importers are withholding business in the expectation of a speedy allied vietory in Europe, which would simplify trading procedures. Other exporters asserted thal ho change: air- whatever the cause, American exe cent: ground ords porters were sitting by=because of navy and the “red tape” required to do busie value), up g2|hess with the U. B—and watehing per cent: merchant vessels (dollay| Other foreign exporters grab the

value), down 4 per cent; miseel- |OUSiness. laneous, down 7 per cent. The report advanced no explana- | U. S. STATEMENT (tion of the May slump. But it| WASHINGTON, July 1 (U. P.).=Gova served to confirm a production re=| SRM EXRERSEE ARE GEN July b come port made by Undersecretary of pared with a year ago War Robert Patterson at a press|peenses 8 1 083.48 808 conference on June 19, which was War spending 841 581.438 extremely gloomy. Patterson said | ge: demeit Ey that production in May of materiel Cash balance 3 30n00) for the ground forces SUPPLY Pros | puniie edi 140.988.807.033 gram of the army, which was sched= | Gold reserve 22,387,544,808 uled to rise 2 per cent over April, INDANAPOLIZ CLEARING dropped 3's per cent, CIOAFINES Shipbuilding Ahead | Debits Patterson blamed the drop on | overconfidence among the people] following the successful conclusion! of the Tunisian campaign, strikes, floods and other national developments. Of the four major Phgerams Nelson said that merchant ships are the furthest advanced. with 44 per cent of the year's objective estimated as completed by June 30. He also said that at the half-year mark, army ordnance and output of naval vessels and equipment were estimated at approximately 40 per cent of 1943 goals, and that the vear's aircraft program was 35 per cent _eompletea.

the greatest strains to which We {he apinion that ever may be subjected.”

| Aircraft Up 5 Per Cent

Nelson presented this summation of the May production score as coms pared with April: Total munitions, craft, up 8 per

army vessels (dollar

Last Year

22.730,018,98

HOUSE 8 5,005, 18,844,

D AILY PRIC E INDEX

NEW YORK, July 7 (U. PP.) =Dun & Bradstreet's daily weighted price index of 30 basic commodities, coms piled for United Press (1030-32 ave erage equals 100): Yesterday Week ago Month ago Year ago .. 1943 high (April 2)

1943 low (Jan. 2) RG LeTourneaun, Ine, == Five net income

months ended May 31, $060,116 or $2.02 a common share vs, $782, 036 or $1.62 year ago.

Have a “Coke” =Welcome, Friends

fle]

TSN

“Coke”= Coca-Cola

Its natural for popular names to acquire friendly abbreviations. Thats why you hear Coca-Cola called “Coke®

«os 0r bow to get along in Alaska

The American soldier in Alaska meets up with a hundred little things that remind him of home. One of them is Coca-Cola. Have « “Coke”, says he, and it clicks in the Yukon as it does in Youngstown of Yuma. From pole to pole Coca-Cola stands for the panse that refreshes=has become the high-siga between kindly-minded strangers,

BOTTLED UNDER AUTHORITY OF THE COCA-COLA COMPANY BY

COCA-COLA BOTTLING CO,

«the global high-sign

BIANAPOLIS, ING.