Indianapolis Times, Indianapolis, Marion County, 12 July 1943 — Page 13
MONDAY, JULY 12, 1048
BUSINESS
Ideal Weather Causing Rapid Growth Outlook Improve ‘for Indiana Hemp:
Rh
ITS MONEY PLAN
Provides That No Country Lose Control Over Its
Domestic Policies.
OTTAWA, July 12 (U. P).=| f Canada today submitted a proposal | for an international exchange union | as an alternative to previously published plans of the United States and Great Britain for aiding in tha! restoration and development of . post-war world trade, Eastern enterprises now WNAer |" oq, 000% version, tabled in the Jap domination is based upon the house of commons here by J. L current success of the South Pa- ficley, minister of commerce ihe | cific offensive which brings hearer qi aiatec important features of the day when these enterprises Will path the British and the United | be back in the hands of their grates plans and adds some new! rightful owners. elements to them, according to tha] ® tentative draft of Canadian experts) EDDIE RICKENBACKER'S re- just released. | cent purchase of stock in Eastern The experts made it clear that| Airlines of which he is president, is their plan will deal only with one of | raising the temper of its opponents. the numerous problems which must| He had an option, granted some be faced, “but it is a logical and time ago, to buy the stock at $10. convenient starting place for joint In April, the SEC reported, he took | international action.” up the option for 8000 shares. Thus, | 0 for $80,000 he obtained securities New Wahetary Unit worth (on the market) $306,000 or| Principal differences in the] a paper profit of $226,000. Canadian version and the others] The deal is by no means unusual previously submitted are that the
————————————18y ROGER BUDROW
INDIANA'S HEMP CROP 1S MAKING a fast recovery) from a slow start, AAA officials report at 20 per cent improvement in the last three weeks. | Quite a bit of the hemp had to be receeded because © the wet spring. It's coming apace now, one field alone growing seven inches in 24 hours by actual measurement. A person could almost see it growing at that rate. The hemp program had had its = Ups and down. Originally Indiana was allotted 32.000 acres and eight mills, It was cut then to a little
than 8000 and two mills. And then the poor spring discouraged farmers. About 200 acres were lost and not replaced, But, despite the good prospects a: Mr. Budrow the moment, hemp farmers aren't over the hump yet. Harvesting probably will beRin along in August or September. 80 the hemp will “ret” (or rot) properly after it has been cut, the kind weather needed is a rainy spell, then drv sunshiny weather, aid then more rain, This will let the fibers separate from the stalk.
more acres
= ®
of
This current revival of the hemp!’ » Industry is necessitated by the fact that our imports of manila hemp from the Philippines and sisal from the Dutch East Indies have been cut off by the Japs. tt more hemp in this country; each mili, for example costs about $350.000. But the government underwrit. ing the Costs, even paid for the gecond plantings. Most of the hemp Is being grown in Indiana, Illinois, Towa, Kentucky, Minnesota and Wisconsin It is to be used for twines, small ropes and cordage. In addition to growing our awn, this country is promoting pvoduc-} tion in Latin America to bolster U. S.-grown supplies. = = »
SWING AT LUNCH. That Is the latest wrinkle at the Indianapolis Electronic Laboratories plants. The dance band which plays during the noon hour at the different plants, is composed of employees, =» » LONDON'S stock market is withessing a boom inh the stocks of South African gold mining companies and Far Bast rubber plantations. South Africa British dominions prosperous. So the British are investing in the nearby mines Obviously, the in the rubber plantations and other Far Legals 44 BTATF NENT OF CONDITION OF THE SUPREME LIBERTY LITE INSURANCE COMPANY
Ninos 3, Parkway
ON T 31ST DAY OF DECEMBER
HARRY H. PACE, President W. ELLIS STEWART, Secretary
i= expensive to grow
ic
i
»
is of
interact
18
IH its quota. Vests Authority in Board
Administration of the union is to be vested in a governing board to]
Amount of capital paid up—3% 100,000.00 GROSS ASSETS OF COMPANY i Real estate unincumbered $ 586.600.51 Mortgage loans on real estate (free from any prior incumbrance Bonds (book value) Etocks (book value) Sa Nn banks on on interest) securities (interest etc.) vcash in office) ana
3.329 185.53 119.313 631.45 Which each government shall ap1.120,060.00 \ioint a representative. 3.0% S314 erning board selects a governor of 13.893 308.08 the union and one or more assist2664,863.34 ants to hold office for five years.
206518895 In submitting their tentative draft, the Canadian experts made “one final observation” as follows: “The new international monetary institution which it is proposed to establish will be neither omniscient nor omnipotent, Its aim will be to promote conditions in which member countries are free to carry out £140,750 778 72 Sound economic policies for the wel238 131 +; fare of their own people and in : which they will not be induced or eee es forced, for lack of organized cooperation, to pursue policies which LOLI impoverish themselves and con 1.722. 749.36 | tribute to the impoverishment of the $147.883.820 50 World. ‘The organization should be 1,000,000.00 international and not supernatural.” geney reserve 4.699 308 74
Total . $153,583,210 33 |
State of Mdiana. f the above mentiohed| office of Insurance Commissioner: |, The leading Indiaha producers of)
the 31st day of December.| jy “ine undersigned. insurance Commis. the John Hancock Mutual Life In-|
original statement and that the oh Whe statement is Sones ho Diana Re "of CLV that the surance Co. is holding its eighth an-| now on file in this office, hm of the Ce dition of the, above mentioned | nual field club at the Stony Ridge] ere ee and affix my official seal, as Shown by the ong hen hotel at Lake Tippecanoe this week. | this 10th Gay OL AANK J VIEHMANN, { that the said original statement is re tr ——— tes |
RAN now on file in this office t | Insurance Comiissioner In testimony whereof, I hereunto sub | Legals a“ “GENERAL ORDINANCE No. 84, 1048 |
STATEMENT OF CONDITION OF scribe my name and affix my official seal. AN ORDINANCE establishing certain pas-|
{ senger and/or loading zones in the| City of Indianapolis, pursuant to the provisions of Section 26 of General! Ordinance No. 96-1928 as amended, and fixe ing a time when the same shall take
effect. BE IT ORDAINED BY THE COUNCIL APOLIS, Section 1. viding the owners or occupants of ecertain| premises fronting oh certain public streets| in Indianapolis with ingress and egress for passengers, materials and merchandise coming te or going from such premises, | such owners or occupants having complied with the provisions of Section 26 of Gen-| eral Ordinance No. 96-1928, as amended, | relative to the establishment of passenger and or loading zones, at the places here-| inafter designated, and the Board of Pub-| lic Safety having caused investigation to made thereof and having recommendea establishment, pursuant to the terms the followin be an in aE}
$1.071.38582 761,808.30 345 054.94 interest not 34 605.35 38 1
and rent er securities policyholders premium notes Premiums and accounts due and in process of collection Account: otherwise secured Agents’ balances net
Ace A s 136.20 on ,000.90 Loans 0 100 470 50
more fuel for labor unions attacks its international commitments, and # policies, dianapolis’ Power & Light ©0.} "ie" cubseribed under a formula vighest this Pod ER : = : ; highest this year. That $45.000 tional income, and holdings of gold be offered in competitive bidding ing mote su int d to superintendent of the tional currency. Douglas Aircraft plants women out- sources of $12.000000000 since each amounts equivalent to half its initial ON BOARD OF TRADE for when the union is short of any particular currency. | ater, consistin trend after a firm opening on the name to be decided | g at Winnipeg. terms of the unit. * v - “By t up % to 4, and rye off 5 to up . The union shall have power to conference in Washington between established by the union, currency Aha the most price ceilings. of exchange; borrow currencies, buy, income $281.652 of 43 cents a com- securities of the country of that) rata share of expenses; and to coRELIANCE LIFE INSURANCE i or be established to deal with Fifth Avenue and Wood Street | have 100 votes plus one vote for the; West, Secretary estate unincumbered . $ 1,175034.13 cumbrance) Cash in banks (on interest Policy Loans and in process of collection 50.1%2.27 Cash surrender value of life
comments about overtime pay and) country participating in the arrangethe 40-hour week just furnished ments loses control over the size of | Financially, it was probably good ho participating country loses contiming on his part, trol over its domestic economic = Canada's proposal involves a < DS: X - i ‘ ODDE AND ENDS! Stocks of In capital subscription of $8.000,000,000 , “Ae J o Stokely Bros. and Noblitt-Sparks to be worked out on the basis of the Industries are selling aroung the scope of international trade, na000 bond issue of Northern Indiana ahd foreigh exchange convertible Se TY 2 ie > a i Public Service Oo. is expected 0.40 sold of cach nation participats| around the first of next month... per eent of his quota in gold and Dr. M. R. Schmidt has been pro-| the remaining 85 per cent in its na- | Whiting, Ind. refinery of Standard £12.000,000,000 Resonroes Oil of Indiana In one of the The union would be assured reut b 39%) i HUMer the With 1%) us member country is to undertake to make additional advances of GRAIN PRICES MIXED quota. These advances would be called! y unit of the union SHIGA, JUIY 18 CU, Pam En unit of a Grain futures followed an uneven Sa 8 Board of Trade today. infiuenced by of Io 3 YE yy = profit-taking ahd a brief recession Counts of the ; At the end of the first hour wheat Union te Fix Prices was off 4 to ': cent a bushel, oats Traders showed a tendency to sell Xo ie a Sree) await the outcome of the scheduled eouhttry al I ai ge! 10 wheat belt senators and Marvin Of any country which the union the least taxed S i . 5 i Jones on the question ef highey Olds: set buying and selling prices four : there . sell. and hold gold; invest any of its gold Bandini Petroleum Co. 1942 net currency holdings in government mon share vs, $85.195 or 13 cents currency: buy and sell currencies! year ago, of non-member nations; levy a pro Legals 44 operate with other institutions of an STATEMENT OF CONDITION OF THE international character as may exoY id PITTSBURGH ,atters of international concern. ittsburgh, Pa. Under the plan, each country shall 31ST DAY OF DECEMBERR, 1942 AE. BRAUN, President AD Amount of capital paid up $ 1.000.000.00 ’ | GROSS ASSETS OF COMPANY ea Mortgage Loans on real estate (free from any inBonds (book value) 0“ Stocks (book value) and not on interest) Other securities Premium notes y\ Premiums and accounts due Accident and health department policies irrevocably ase sighed to company
11.756. 00
£153.69 018 66 115.789 33
Total gross assets
3.363,765.2¢ : } 4 Deduct asse's not admitted
84,204 43
oe ;
Ney
assets
gross not admitted
et mesels
Net gssets . ,. $153 383.2198 33 LIARILITIES Reserve or amount necessary 16 reinture outstanding risks . Losses due and unpaid Losses adjusted and not due Losses in
on $3,279, 460.8) LIABILITIES
amount necessary outstanding t
erve of
reinsure
Rr riske 2,670,481 00 ~RS adjusted and in sus Losses unad 15. 816.54
3.162 78 ahd
unadjusted suspense § Bills and accounts unpaid Amount due and not due banks or other creditors Other liabilities of the company ““
pense ils and ner liabilities pany Total liabilities
accounts unpaid
® of the com-
© 12.461 62 $2,761,621. 74 100,000.00 417,839 0% | $3.278.460.81
saital 4 al
prplug git Total liabilities Total . Capital : Rrate of Indiana. ol Surplus inclding contin. DEE yf Insuragice Commissione One Inderenea, Insurance Commis. | sioner of Indiana, hereby certify that the ho ect copy of the Statement)
INSURANCE MEN MEET
Company $942; as shown
(SEALY this 10th day of June 1943. FRANK J. V MANN (SEAL) Insurance STANK t. STATEMENT OF CONDITION OF THE STATE FARM LIFE INSURANCE COMPANY Rloomington, Ii Fast and Was ington Streets
NST DAY OF DECEMBER. ADLAI H. RUST, President MORRIS G. PULLER, Secretary
HE TRAVELERS INSURANCE COMPANY Hartford, Conn $00 Main Street N THE 21&T DAY OF DECEMBER
TT
1942
| MON | IND ZACHER. President KARROLL D SSgoOD, Secretary |
| paid up $20.000,000.00
ETS OF COMPANY § 40.469,192.58
INDIANA | 1042 That for the purpose of pro-| Amount of capita < GROSS ASS : Real estate unincumbered Mortgage loans on real estate (free from any prior incumbrance) Ronds (amortized value) Eiocks (book value) Cash in banks ton interest and not on interest) Accrued securities (interest snd rents, ete) Policy Loans Premiums and C deferred premiums and in process of jection Gross assets partment
Amount of capital paid u GROSS ASSETS OF CO Mortgage loans on real estate (free from any prior ineumbance) . “hi { Bonds (book value) Stocks (book value) $ 161,869.31 Cesh in banks ton and not on interest) $ 535,070.81 Accrued securities (interest and rents, ete.).... . Policy loans and liens Cash in company’s office Premiums and accounts due and in process of collection Agents’ debit balances Short remittances and turned checks
134.268 985.23 - $300,000 no 723.838.081.00 ANY
29,105,701. 94
$2,481 776.91
892.181. 8.892,161.18 $3.850,126.17
EBTR 631.16 £3,200, 765.40
interest be the of the aforesaid Ordinance, passenger and/or loading zones same are hereby established r of Indianapolis, Indiana, towit: An 18-foot zone in front of 116-118 East Maryland Street, said premise be- | ing occupied by Goldstein Brothers, Inc, and said zone to extend for a | distance of 18 feet west of a point § | feet west of the east property line of | Maryland Street: An 18-foot zone In front of 128-130 132 South Meridian Street, said premise being occupied by Mutual China Company, and said zone # extend for a distance of 18 feet north from the south Rrpperts line of Meridian Street: An 18-foot zone in front of 1315 East 30th Street, said premise being occupied by Center Cleaners, Inc, and said zone to extend for a distance of I8 feet west of a point 16 feet west of the east property line of 30th t
Street. Section 2. This ordinance shall be in full force and effect from and after its Jastage and approval by the Mayor. tate of Indiana, Marion County, City of
accounts and due col-
de-
20.139,958.57
163.618 189.37
assets $1,243,269, 786.54 | jot admitted 11.355.510.93 | il $1,231,914,218.31 | LIABILITIES 8 amount necesnsure outstand.,
(aceident 353,613.08! 5.064 53
1,207.45
tL re s $7.578,610.85 S$ 51.3666
. ST527,244.2¢
* gross assets 1
Total Peduct
Net
Reserve or sary to io i PiSKS. oven Losses due and unpaid Losses adjusted and not due Losses unadjusted and in suspens Bills and Total liabilities department Other liabilities of the company . ‘ \ y
{ Total Deduct
Net
assets assets
gross \ not admitted
assets 908. 214.00! assets . ah : 208. Son. 184.43 | LIABILITIES 103.254.267.00 | Reserve or amount necessary | to reinsure outstanding risks $40579%¢ 72 7.679.162 24 | Losses adjusted and not due. .§ 16,111.34
e. . » : accounts unpaid, st : {aeeiie s and accounts unpaid... liabilities of the
Sasa
Total liabilities Jabimbee. Li uteniis Capital surplus
Total .. Lea AvAL gtate of Indiana.
office. Ws hereunts suh-! Witness my hand and the official seal | ficial scal | of the oy MN ndianapolis, Indiang, this| ay ol ¥. . (Seal) FRANK J. NOLL s : . a City Kk.
her com28.103,915.43 | $6,482 941 75 ,000, 300,000 7,041,664 57 Surplus issioner: o Office of Insurance Commiss Commis: I the uhdersigned Insurance Commis. | Ihe above and rOreOIng is a full, true adition of 3% Above mentioned ' of the Condition of the above menuaned | Ist day of June, 1943, and was signed | » |“ on file in this ol on ereof. I hereunto sub wh s testimony a
$21,457.17 Losses unadjusted and in sus. $ 54.845.98 106,523,851.45| Bl $ 2705.00 pany $2,281, 504.74 $1.154.872,551. 74 | _ Total 000.00 Capital ? g $ THL302.40 “at o%t 018 O%& §) $e kon saz oa! Indianapolis, ss: SLISLOILNEIN | Total sees SUSINMAN] | Upvank J. Noll Jr. Clerk of the City Office of Insurance Commissioner: of Indianapolis, Indiana, do hereby certify urance . s Ord I the, ndersit et rehy certify that the sioner of Indiana, hereby certify that the | pnd Nn plete he +f OE ART inane pioner a correct copy of the Statement above is a correct copy of the Statement! essed by the Common Council on the e Co December. | Company on the 3ist day of December. | | “the an inal statement 1942: as shown by the original statement 80nd Approved by the Mayor on the 323d jginal statement is and that the said original statement js Gay of June, 1943, and now remains on at the Rls otice file and on record in m | (mont NE TIE RES i jeial seal | scribe my name an X my ol scribe mv name he IR 9 | this 10th day of June. 1043. this 10th day of R J YIRHMANS, J. VIEHMANN, i “RAN er, ISBAL) urance oner, A i ha as Ponda at :
5 ~ VRE
CANADA OFFERS
conference board reported today.
C Comw & So Cons Edison
| Corn Curt Dom
COM OF THE CITY OF INDIAN-
| Swift &
Bi
_ THE INDIANAPOLIS TIMES arewell Party Given
PAGE 13
Stowell Wasson
Among guests at a farewell party Friday for Stowell C. Wasson, manager of National Malleable
but coming after Rickenbacker's Canadian plan provides that no | & Steel Castings Co. (left to right), were Harry Reid president of Indianapolis Railways: Mr. Wasson:
James 8 Watson, vice president of Link Belt Co, and Guy A. Wainwright, president of Diamond Chain
& Mfg. Co.
Mr. Wasson is being transferred to the Chicago plant of National Maltleable.
The party was
given by the Associated Employers and the Chamber of Commerce al the Columbia club.
Jack & Heintz War Profits Called Unfairly Interpreted
Ry JOHN LOVE
Special Writer
Times
CLEVELAND, O. July 12.--Congressman Albert Each member shall pay in 15 recently did some arithmetic with the profits of the Jack & Heintz
|
phenomenon of Cleveland, and came out with the answer that it made!
1740 per cent on its investment.
| But the congressman's figures made no sense they were unfair. It is true, as Mr.
IN BRIEF—
The bureau of agricultural economics warned today that while farm land values have not reached
the boom stage that led to “catas-,
trophe” following the last war, they are rising at a rate that “bears watching.” ” ” ” But the same bureau reports that fariners are combating these inidationary tendencies by making large’ cash payments on farm mortgage indebtedness. ” » ” The total population of the United States reached an all-time record on March 1 of 133,900,000, an increase of 4.200000 over (he 1910 census, according to an estimate by the J. Walter Thompson Co, published in Advertising Age. » » ” Living costs of wage earners and lower salaried clerical workers in the United States rose enly 0.1 ner |
cent in June, bringing the cumula-/ [tive increase for the past year to
1 per cent, the national industrial
” mills
steel produced
America’s
equivalent of each 100000 units of 43866012 net tons of steel in the first six months of 1943, an all-time | record, the American Iron & Steel] ‘institute reports. |
” ” ”» The war food administration has
appointed Merle E. Drake as mar-| The goV-| ket administrator of the federal] milk order for the St. Joseph county milkshed.
N.Y. Stocks
Net High Last Change 3's 3 'n
Low . d 3 .. 182 4
Allegh Corp Allied Chem Allis-Chal .. 3 Can ‘ ‘ ‘ y Rad & 8 3 : Roll Mill ' 3° ToT
3
Am 2 Am Am Am Am Tob B Am Water W | Anacon-a Armour Il Atl Refining Balt & Ohio Beth Steel Borden Borg-Warner Bdgpt Brass . Ches & Ohio .. hrysie,
t
Cons Vult Aire
ro iss-Wr A e Mines . Douglas Aire . East Kodak . Elec Auto-L Gen Electrie Gen Foods Gen Motors Goodrich Goodyear : Ingersoll Rnd Int Harvester Int Nickel int T&T Kennecott Kresge 8 8 Kroger G & B L-O-F Glass Link Belt Monsanto Nash-Kelv Nat Cash Reg Nat Dairy Y Central
Penn ‘ Phelps Dodge | Procter & G .. Pub Sery Pullman Pure ‘Oil Radio Real Silk ‘an St Jos Lead Roebuck Servel Inc Shell Un Oii Std Brand: Std G & E Std O Cal “oy Std Oil (Ind)
| std Oil (IN J)
Studebaker Co Texas Co Timken R B .. Un Air Lines U 8 Gypsum Tl U 8S Ind Alcohol 41 US Rubber .. 2 U 8 Rubber .. 433% U8 Steel ..... 5% West Union ... 38% Westing El . 98% Woolworth . 4 Yellow Tr ..... 184 Young Sheet .. 39%, : Zenith Rad ... 38 +
3 Vi \ U. S. STATEMENT . WASHINGTON, July 12 (U. P.).—Government expenses and receipts for the current fiscal year through July 9 compared with a year ago: This Year, $ 20186,350 829 1,741,082, 224 683,380 865 1,332,969 963 8.583,0120%4 . 7.802.340 431 . 141,312,001 704 22,368,400, 448
Last Year. $1,458,197, 167 1,234 059 988 281,180,130 1,176,904 337 2,717,965, 528 1.955 531.473 7.954.243 983 22,730 767,580
Expenses War spending Receipts | Net deficit Cush balance Working bal Public debt Gold reserve
INDIANAPOLIS CLEARING HOUSE Clearings coo 8 BI2%,000 Debits BERL R Rt RRR RRR RRR 11,930,000
| sense, Jack & Heintz could have been closed up two vears ago. |
| growth
| worth | bids exciusively, as did Jahco, and
A
Because they didn't, Engel said, that the company's in-' vested capital was £100,000. (The original investment was $500. later increased.) The capital is still £100,000. and according to President William Jack, it will not be increased. In the year ended last October the company made 8$7.700,000 on $23.000,000 of business, before taxes, and came out with $1700,000 after taxes but bhefore renegotiation. This renegotiation has not yet been completed
Banks Refused Credit
After he and Ralph M. Heintz started the company in the fall of 1040, Mr. Jack put in about $500.000. Mr. Engel didn't mention this. By the spring of 1941 they had expanded so fast the capital was used up and nore money was needed before profits could be earned. Mr Jack was turned down. he says, by every Cleveland commercial bank. ‘The orders were very large and the plants only part'Y completed. So he put it up to the government. The Defense Plant Corp. arranged to lease the ex pansions to the company. In a peacetime situation. one in which Mr. Engels figuring of profits might have made some well
Even Henry Ford had growth problem as this.
no such
Percentage Computation ‘False’
The Engel fallacy lies in think-! ing of invested capital as the base on which to compute profits, percentagewise, in a rapidly growing concern like this cone. Our tax! policy will effectively prevent of this sort occurring in peace times, A company which took $23.000.000 of business on competitive
then aimed for a “reasonable” percentage of profit on $100,000 or $500,000 of capital would have been insane. To have guessed wrong by a few decimals would have bankrupted the company. But how much. all,
after has
(Jack & Heintz been worth to the
war effort. It is possible to get a
general idea.
Cuts Cost to Army
Most of money the company
| made in the year ended last Oct.
31 was from airplane starters. The army was paying. when the come
| pany commenced work, $407 apiece, lon the average; Jahco bid $370 and
later cut the price to $320.
| them at $4200. | price
GLASSES on CREDIT!
| |
The company started making automatic! pilots when these were costing the army $4600. It took a contract for It then cut the to $2000. toc $2750, to $2525, to $2150—and this month is making them for $1145 apiece. But how much is this production and this saving worth to thos» who make it? Mr. Jack argues it is worth 5 per cent of the amount of the contracts. It is obvious it can't be figured fairly in this buse iness as a percentage of capital invested. Clearly it's a matter for negotiation. Plants of long history have a means of basing profits on investment, but not Jack & Heinta,
Modern stylish rimless glasses
Lbs.
HOG PRICES RISE 1570 25
CENTS
1 Enel rnin Porkers Weighing 200-210
Bring $14.25 Top: 8675 Received.
Prices on hogs advanced 15 to 25
cents at the Indianapolis stockyards |
today, the food distribution admine-
istration reported. The top for 200- and the BEW hasn't denied this, |
210-pound porkers rose to $14.25.
Receipts included 8675 hogs, 1350 |
cattle, 450 calves and 975 sheep.
120- 140 140- 160 160- 180 180- 200 200- 220 220- 240 240- 270 270- 300 300- 330 330- 360
Medium 160- 200
HOGS (8635) pounds pounds pounds pounds pounds pounds pounds pounds pounds pounds
$12,256 13.25 13.0061 14.15 14.1561 14.20 . 14.20@ 14.25 vo 14256 14.30 . 14.1060 14.20 14.0062 14.10 13.90@ 14.00 . 13.7061 13.90 13.656 13.85
pounds 12.50% 13.50
Packing Sows
Good te cholce-—
250- 300
300- 330 pounds 330- 360 pounds 360- 400 pounds
Jn0de
400- 450 pounds
450- 500
12.85@ 13.10 12.80@ 13.00 2.756 12.90 [email protected]
pounds
12.58@ 12.75
pounds 12.5061 12.65
Medium
250- 530
Medium 90- 120
Cholce—
700- B00 pounds 200-1100 pounds 1100-1300 pounds 1300-1500 pounds
Jood— 700- 900 900-1100 1100-1300 1300-1500
pounds 11.10 12.15 Slaughter Pigs and Good--pounds
CATTLE
11.3043 12.50 (13350)
15.500 16.60 506 16.50 50@ 16.50 [email protected]
[email protected] 14.2502 15.25 14.500 15.25 14.50@ 15.50
pounds pounds pounds pounds
Medium —
700-1100 pounds
1100-1300
13.2562 14.25
pounds [email protected]
Common —
700-1100
Cholee—
600- 800 pounds 800-1000 pounds
Good
600- 800 pounds 800-1000 pounds
pounds 11.7513.25
15.00@ 15.75 15.00@ 15.75
Medium—
500- 8300 pounds
Common
800- 900 pounds
Good
12.756 14.00
Cows (all weights)
Medium .
Cutter Canner
Beef — Good
and common
Bulls (all weights) (Yearlings Excluded)
versa 13.506 14.28
Sausage—
Good (all weights) Mediun.
Cutter
Good to Common Cull (75
1 714.00 13.25
111.25
. 3.25% 11.254 and common \ 10.00% (CALVES (130) Vealers (all weights)
choice Labs avae and medium
[email protected] Ibs. up) .
Feeder and Stocker Cattle and Calves
Choice
500 800 pounds 800-1050 pounds
GoOGQe-
500- B00 pounds .... 800-1050 pounds
Steers
+ [email protected] . [email protected]
+ [email protected] ceaseraneaas [email protected]
Medium
§00-1000 pounds
Common
n §00- 900
pounds
oo [email protected] [email protected]
Seana
Calves (steers)
Good and Choice
500 pounds down Medium-— 500 pounds down
Calves (heifers)
Good and Choice—~
| 500 pounds down Medium500 pounds down
SHEEP AND LAMBS (935)
Ewes (shorn)
Good and choice
Common
and choice Spring
Good and choice
Medium Common
Up
0c:
and good
WAGON WHEAT
to the close of the Chicago markel | today, Indianapolis flour mills and elevators paid $1.49 per bushel for | red wheat (other grades on thelr merits), No, he oats, 60c, and No. 0.
2 red cats,
3 vellow shelled corn, 9%¢
' bushel, and No. 2 white shelled corn,
COMPLETE GLASSES—Call quick fo this unusual offering. complete finish mounting and TORIC lenses for FAR OR NEAR VISION.
’
15-DAY TRIAL!
Convince yourself by 15-day test at our risk that this is the biggest bargain you ever had. If not perfectly satisfied after 15-day (trial, money refunded. Glasses ground on prescription,
Cre It De
NO EXTRA CHARGE
dit sired
NATIONAL OPTICAL
3,000,000 Satisfied Customers
Open Mon, Thurs. and Sat, Eves. to 5 P. M. STORES IN PRINCIPAL CITIES
with “Gold-Filled”
LARGEST OPTICIANS IN AMERICA Principals of this firm own a large optical shop and the largest chain of retail optical parlors in America,
124 W. Washington St,
14.009 15.00 | 14.00@ 15.00!
11.25@12.%5 |
. 15.00@ 15.50
15 [email protected], [email protected]|
+ [email protected] 12.75@ 14.50
£0)
per $1.16
ARE ASSISTANTS BEHIND D. C. FEUD?
Causes of Wallace-Jones Quarrell May Lie in Houston Background of Milo Perkins, One-Time Bag Salesman, and Will Clayton ‘Cotton King.’
By MARSHALL MceNEIL » Times Special Weiter
WASHINGTON, July 12.—Viee President Henry Wallace and Secretary of Commerce Jesse Jones are the stars in
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| the newest and most bitter Washington feud, but in the sup‘porting cast are two other men who, like Jones, adopted Houston as their home, One is William L. Clayton, the assistant secretary of (commerce, who was damned along with Jones in the vice president’s blast. dh | The other is Milo R. Per- asHingion hs one of the RSSistante | kins, executive director of the yariciiture. he Jom en wreretary 0 By B4 ; C 01 The agriculture, Mr, Jones was the boss board of economic warfare, of the RFC, His power steadily ex-
| who shared in Jones’ condemnation | tending. [of Wallace. | Mr, Perkins moved up, and so did There are a few, at least, who Mr. Jones. think that the Houston background | AS War approached, Mr. Jones and
4 | Nelson Rockefeller, co-ordinator of Of these three adopted Texans may |inter.American affairs, brought Mr.
play some part in the present con- Clayton to Washington, where he troversy. later became one of Jones’ deputy | Mr. Perkins, the operating head | Joan administrators, and, finally, of the BEW, gives “directives” to|assistant secretary of commerce Secretary Jones and Assistant Sec- Wallace Relied on Him retary Clayton to finance purchases | Once assistant administrator - of
lof eritical terials p the materials around the, "ru, security administration,
world, running into the millions. . . But back in Houston. there was a Originator of the famous food stamp plan, Mr, Perkins was known as a
time when Mr, Perkins worked for : one of Clayton's companies on RpeN Lonlex Sralince relied on him, commission basis: when Mr. Jones, b was natural that he should bes come the executive director of the
even then a national figure, was the Board of : big, rich man of the town, and hoat ol economic warfare and the economic defense board, its
Perkins was a bag salesman. | Who's to say, human nature be- predecessor. Mr. Jones and Mr. Clayton are
ing what it is, that this background may not have some effect on the Democrats, but not New Dealers, (Mr, Clayton contributed to the
present row? | Liberty league and to the Demo-
| Jones Blames Perkins cratic party, as well, | Mr. Jones said that Mr. Perkins! Even people who are on Jones’ | “undoubtedly assisted” the vice Side of the Wallace-Jones feud say president in the preparation of als | that vPerkins is smart as hell, and
harges against Jones and Clayton, capable.” But it Is at least possible that
| Who's who shows that from 1919 /both Jone and Clayton have memoto 1923 Perkins, who was born in| ries of him as a bagging salesman Wisconsin and had come to Texas|in Houston when he sends BEW lin 1917, was a salesman, and then directives to the RFC.
| salesmanager for the Bemis Bros | mn —— LOCAL ISSUES
| Bag Co. of Houston, Nominal quotations furnished by Indian= Bid
| During those years Clayton was! dealers. Asked { Agents Fin Corp com .
head of Anderson, Clayton & Co. |aPolis securities | the world’s largest cotton company | Agents Fin Corp pfd |Senator Tom Heflin (D. Ala), |Relt R Stk yas 6c pid {dubbed him the “colossus of cotton. *| Bobs Merril COM... ieee { > > i | Bobbs-Merrill 4147 pfd He was by then an old hand at in-|cirele Theater com ©. [ternational trade in cotton; his Somwith Loan 5% pfd company had branches all over the | Home T&T Co TD he 7, pid world; its power in the cotton mar-|Ind & Mich Elec 7. pid . . ; | *Ind Asso Tel 5¢/ pfd . kets of the world was indisputable.
| Ind Hydro Elec 7% | - { Ind Gen Serv 67» “is Still Rich Men Indpls P & L 5'4%% | { *Indpls P & L com By that time, too, Mr, Jones was Indpls Railways com | Indpls Water pf ... Vesaue a national figure; he was prominent | Indpls Water Class A com ... | . aby > | Lincoln Loan Co 5', pfd . in the Democratic party, he headed Lincoln Hor Lio RLS : banks in Houston; he published 2 |*N Ind Pub Serv 5':75 ptd . » \ Ap + wore | TN Ind Pub Serv 6% ans newspaper there; his holdings were | .g 11d pub Serv 7% pid .... very large. |P R Mallory com ive | Mr, Jones and Mr. Clayton were Progress Laundry com | tend still are) rich men. Perkins, on the other hand, was only a salesman of bags and bag-
(C
| Stokely Bros pr pfe . {United Tel Co 8% .....covvv 0s { ! Union Title com | Van Camp Milk pfd was the best salesman who ever op- | Van Camp Milk com
| B s He was so good, Some | Ajgers Wins'w W ants
Pub Serv of Ind 57% pfd : | |
| Pub Serv of Ind com . So Ind G & E 4.8 pfd ‘ging. They tell in Houston that he
|erated there.
RR 42% ... |assert, that his customers of those |American Loan bs 51 [years are still stocked up with the a San 5: 3 43:51... 9 | bags and bagging he sold them. Ch of Com Bldg Co 4lis 51 ... | In 1923, Mr. [the bagging business on his own. | The King-Perkins Bag Co. was| I 42} 0, (formed, and it turned out that he, | gnome Were Works os 58
‘in effect, went to work for Mr. Clay- | Rahnor Packing Co 4%as 49 | ton. At least, his company did] Mortis 54:10 Stores 52 50... |
business with the Southern Bag &|N Ind Pub yo FY 69 . n 28 55 To, Burlep Co., a subsidiary of Ander- pub Serv of Ina Ives + son, Clayton & Co, on a commis Pub Tel 46s 55 ¥ ' Richmon p ks 5s 57 . sion basis. chmond Water Wks 5s 57 By the time Mr. Perkins came to
| Citizens Ind Tel 4'2s 61 . Perkins went into | Consol Fin 5s 60 ‘ Ind Asso Tel Co 3'us 70 ... Indpils P & L 3%s8 170 ......... Indpls Railways Co 5s 67 .....
| Trac Term Corp 5s 57 ve U. 8. Machine Corp 5s 52 ..... ‘Ex-dividend.
BUSINESS DIRECTORY
Merchandise and Service SAXOPHONE
Instruction 1
INDIANA MUSIC CO.
115 E. Ohio St.—FR-1184
USE YOUR CREDIT at MOSIRINS
CLOTHING COMPANY 131 W. Washington St.
Directly Opposite Indiana Theater
WHILE THE REST OF
THE TOWN SLEEPS HAAG'S ALL-NIGHT DRUG STORE
22d and Meridian IS OPEN
25
Per esson
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$ 4 6” $ | 8” 2 { 5 247
CASE CLOTHES
215 N. Senate Ave. Open 9to 9
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113 W. Wash, Lincoln Hotel! Bldg.
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FRanklin 2581 SH 00
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20 E. OHIO ST.
Insured Up te i $30
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