Indianapolis Times, Indianapolis, Marion County, 20 August 1943 — Page 17

- By THOMAS L. STOKES Times Special Writer

WASHINGTON, Aug. 20.—Undersecretary of War Robert P. Patterson has written a letter to Rep. May (D. Ky.), chairman of the house military affairs committee, challenging as “inaccurate in many respects” a series of. articles appearing in Scripps-Howard newspapers. articles charged that the army air forces had helped perpetuate a monopoly by Aqua Systems, Inc. of New York in a hydraulic. fueling system at military airports, a system Which has been held inefficient in separating water from gasoline in bureau of standards tests.

Patterson’s letter, lated Aug. 13, was written efore all the articles had ap-

“¥or an examination of the report by the house military af-

airs committee which sets orth in detail facts recited in

he series of stories, in addito many hitherto unpublished. . Patterson left the city, Aug. 14, d has not returned. The articles have been commendfor their accuracy by those with the situation. “\ In his letter, the undersecretary said that Aqua System “receives no preferential treatment” from the war department. The record, both of the justice department which investigated the monopoly and of the house military affairs committee shows how the company has been favored, how others who wanted to supply fueling equipment and parts were held off in numerous ways, how Aqua was provided in advance, in some cases, with plans and specifications.

Doesn’t Mention Favors

,. 1 Mr. Patterson does not mention In his letter the many favors to army air forces officers, the enter- * tainment, the distribution of $3000 worth of liquor to army and navy officers one Christmas. The bills for the liquor purchases, made here in Washington by Albert C. Kaestner, & company official, are available, ‘along with the names of the officers ho received the liquor which are tten right on the bills. The undersecretary also makes the point that only four contracts for hydraulic installations were let during the first five months of this year, out of a total of 43. This may be due to the fact that complaints ‘about the Aqua System have finally ‘had some effect. At Wright field, for example, the Aqua System is used as little as possible.

Price Lower Now

{ The writer's point was about Separators, the device which is supto separate water from gasoe.. He said that the war department had purchased several huudred of the so-called Aqua traps after assurances months ago that other manufacturers would be permitted to supply separators, and despite bureau of ' standards tests showing the inefficiency of the Aqua trap. The undersecretary said that only one separator is required for approximately each 50,000 gallons of gasoline stored and the separators cost around $250 each. The price would not seem to be an issue where safety is concerned. Furthermore, the quoted price on this trap was far above $250 some time ago— before -the justice department brought its anti-monopoly suit in March, 1942. Tested Only 70 Per Cent Mr. Patterson referred to that suit, which revealed excessive prices charged by Aqua, and to his own order of July 15, last year, instructing that purchases be made

7 elsewhere if Aqua prices were too

high. He recognized the overcharging when he suggested examination of the prices and renegotiation “in appropriate instances and where permitted by

BY ring to bureau of standards tests, the undersecretary said the earlier tests showed “that the Aqua type of separator was the most efficient then commercially available “y although an experimental type using excelsior showed great possibilities.” As a matter of fact, those earlier tests showed that the Aqua separator had an average efficiency of only 70 per cent, and bureau of tandards officials were very critJal at that time as a result of the tests. Information on the test is available in the war department Months ago, after the tests showthe excelsior type of separator much more effective, manufacturers of those types expressed themselves ready to enter production, but noth-

ERSON (LAL

Undersecretary of War's Charge of ‘Inaccuracy’ in s Articles About Aqua System Monopoly Is Termed Premature.

eared, and without waiting

WAR OFFICIAL

Wants More Witnesses to Appear Before House Group.

Times Special WASHINGTON, Aug. 20.—Undersecretary of War Robert P. Patterson has written a letter to Rep. May (D. Ky.), chairman of the house

military affairs committee, under date of Aug. 13, concerning ScrippsHoward Newspaper Alliance articles by Thomas L. Stokes. The letter follows: 5 “I am indeed glad to receive your assurance that the articles, running in the Washington Daily News concerning the military affairs committee investigation of Aqua Systems, were not inspired by the committee or its staff. “The articles are inaccurate in many respects. For example, Aqua Systems receives no preferential treatment from the war department. When it is awarded a contract it is because it is the lowest qualified bidder. Your committee must be satisfied of this fact; within the last several weeks your counsel was furnished with a tabulation which showed that, during the first five months of this year, only four con» tracts were let for gasoline storage installations of the hydraulic type,

ing that period. 39 Were Mechanical

“Thirty-nine of these contracts were for mechanical systems, the equipment of which is furnished by a number of companies and the installation of which can be accomplished by a great. number of contractors. The newspaper articles referred particularly to water separators which are, of course, used only in connection with hydraulic installations; only one separator is required for approximately each 50,000 gallons of gasoline stored and the separators cost around $250 each. ‘In May, 1942, the cihef of engineers directed that, where no special conditions exist which clearly dictate the selection of a particular type of gasoline storage installation, plans and specifications shall provide for alternate bids on

and the type of system to be installed shall be determined on the basis of the lowest cost and time of completion, “In July, 1942, I referred Aqua Systems’ contracts to the price adJustment board for examination and renegotiations in appropriate instances and where permitted by law. I further directed the chief of engineers to procure, under section 68 of title 35, U. 8. code, required parts for hydraulic storage systems from other suppliers whenever patentees (in most instances Aqua Systems) bid unreasonably high prices and to leave the owners of the patents to their remedies in the court of claims.

"Requested Tests

“Tests of water separators by the bureau of standards were made at the request of the war department. These tests have not been held up in any way by any action of ours and they were concluded only last month. The bureau’s earlier tests showed that the Aqua type of separator was the most efficient then commercially available although an experimental type using .excelsior showed great possibilities. - This excelsior type has only recently (during period tests were being conduc by. the bureau of standards) been improved and developed to a point where several different makes of this type of separator are highly effective under laboratory conditions and we

ing ever has been done.

are now. preparing final specifi-

{| who KEEPS YOUR

The

GIVES HIS CASE|

out of a total of 43 installations |Go0d— contracted for in this country dur- oe

hydraulic and mechanical systems c

With the biting end of their 155-mm. rifle, named “Long Tom,”

a shell screaming its message of death and defeat.

pointing toward the

“Long Tom” speaks and the American crew plug their ears against the shattering boom. retreating Nazis, American soldiers somewhere near St. Stefano in Italy prepare to send These 155-mm. rifles are now being used to send sheils across the straits of Messina to

rip axis installations on the Italian mainland.

25-CENT GAIN MADE BY HOGS

Top Advances to $15.25 as 5175 Porkers Arrive At Stockyards.

Hog prices advanced 25 cents at the Indianapolis stockyards today, pushing the top to $15.25 for good to choice 200 to 210-pounders, the food distribution administration reported.

Receipts included 5175 hogs, 300 cattle, 375 calves and 1175 sheep.

HOGS (5175) 120- 140 pound 8 viene verrai [email protected] 140- 160 pounds ...eececvcees [email protected] 160- 180 pounds «cc... esesees [email protected] 180- 200 eeseessssess [email protected] 200- 220 eevessccevess [email protected] 220- 240 pounds ...cecesee.0e [email protected] 240- 270 POUNAS .cvecosscscss [email protected] 270- 300 Pounds ...eceessesss [email protected] 300- 330 pounds ..ccecccecece [email protected] ans. 26 360 pounds ..ceccecccces [email protected] e 160- 220 pounds ceccecoseces « [email protected]

Packing Sows Good to Choice—

270- 300 pounds seecceceeces. [email protected] 300- 330 pounds eccccccecssss. [email protected] 330- 360 pounds ...cceccevees [email protected] 360- 400 pounds sceccscccces. [email protected] 400- 450 pounds ..ecsceceees. [email protected] 550 pounds ...ceceeeeeqs [email protected] edium— 250- 550 pounds cc..cccceennn [email protected] Slaughter Pigs Medium and Good— o 2325- 550 pounds ........ | [email protected] CATTLE (300) : Steers Choice = 900 pounds ...cceeseeeee [email protected] =1100 pounds ....cccees... [email protected] 1100-1300 pounds ecseccescss. [email protected] 1300-1500 pounds .cccccccccss [email protected] Good— 700- 900 pounds ...cceseeeeee 13,[email protected] 900-1100 pounds ...cceeese0es [email protected] 1190-1300 pounds ..cceesseceee [email protected] 1300-1500 pounds cceccccccscss [email protected] Medium 700-1100 pounds ....ceceeeee. [email protected] 190.1900 pounds ....cceeveees [email protected] omm 700-1200 pounds ....... sesese [email protected] Heifers Choice— 600- 800 pounds <...cecc0e.. [email protected] 800-1000 pounds sss snnessene 14.50 15.78 Good— 600- 800 pou UNAS cececvceseccse [email protected] 800-1000 pounds ...scescsss.. [email protected] Medium— 500- 900 pounds sececcceccs.. [email protected] Common— 500- 900 pounds ...... esessse [email protected] Cows (all west GOOR vieesevnvicieosibnennaies [email protected] Medium ...coocrcrrivsirssene [email protected] Cutter and common sec.cececaee 5 3% EL weights} : earlings ex Beef-= Good .ee.o. esecescscscece [email protected] Good (all weights) eeeccecee + 3} e135 IE deere ae sa dsmeio uns [email protected] tter and common ........ . [email protected] CALVES (375) Vealers (all weights) Good to choice.......ccoonnn. [email protected] Common and medium......... [email protected] Cull (76 Ibs. UP) ec.ceveccene [email protected]

Feeder and Stocker Cattle and Calves Steers Cholce— pounds

500- 800 800-1050 pounds Good— 500- 800 pounds 800-1050 pounds

Medium— 500-1000 pounds Common— 200

sssscecccese [email protected] sescssccssss [email protected]

sessecsceess 11. Baun

esssssccsces 11.25

scsssecceces [email protected] [email protected]

Calves (steers) Good and Choice— $500 pounds down .

um-— 500 pounds down” Calves (heifers)

Good and Choice— : 500 pounds down ...ccceee... [email protected] Medium— 500 pounds down .......c.c00. [email protected] SHEEP AND LAMBS . (1175) Ewes’ (shorn) Good and choice ......... esse 6.00@ 7.00 Common and choice ........ « 4.500 6.00 ! Spring Lambs Good and choice 4.00

seesvonveeve 13,00 Medium and good ........ fie Common .....oocees tem rannsen 9 cations with a view to immediate installation of these separators for service tests. “We have co-operated with your committee in its investigation— furnished all information and assistance desired. ' Your counsel has been heretofore advised that there are several witnesses whom we desire to have appear before the committee and I had understood that we would be informed when the ‘| committee was ready to hear these witnesses. I cannot believe that the committee is ready to report without hearing and considering what we have to present. Your counsel's

12.78 1.00

: office has stated that a draft report

has been prepared. It would be helpful to us in our presentation to the committee if we were given an opportunity to consider this draft prior to the appearance of our witnesses before the committee. I shall

copy for that “I request that the committee

appreciate it if you will loan us a}

of going at one leap into production schedules great enough to show

sembling could accomplish in reducing the cost of dwellings. With orders for upward of 75,000 houses they licked the factory problems. Their post-war goal is distribution.

are thinking out new methods of marketing, lining up contractors and others as local outlets and talking with savings and loan people. The quarter-size models of houses which the Homasote Co. of Trenton, N. J, is showing in a number of department stores around the country are an effort to see how this method of distribution might work. Cost Up to $40,000 Homes of this type run from $1800

The Gunnison Housing Corp. in New Albany, Ind., has an assembly line which delivers a floor panel in six minutes and a packaged house in 25 minutes. materials takes anywhere from six

30 | house on ‘the lot requires in some

instances a single day. Erecting crews in a large easiern project|y averaged 30 houses a day. Completion took longer. 180 Fields in Field . About 180 concerns have ambitions in pre-fabrication. Builders of steel houses are quiescent, due to the priorities’ on metals, and the users of plywood, fiberboard and similar materials have been running away with the war business. Among the largest companies in the field are Aladdin of Bay City, %! Mich, which started in’ 1906; American Homes, New York, with four plants; Bates Prefabricated Structures of Oakland, Cal.; E. L. Bruce of Memphis, which built 1200 in its home city; Barrett & Hilp of San Francisco, which assembled 5000 Homasote houses at Portsmouth, W. V.; Gunnison of New Albany, Ind.; Homasote of Trenton, N. J.; Houston Ready Cut. of Houston, Tex.; National Homes of Lafayette, Ind., Pease Woodworking of Cincinnati, and Sears-Roebuck, with its plant at Norwood, Ohio. The large concerns recently reported production capacities aggregating 9700 houses a month.

Promoted

what the principles of factory as-|

Accordingly, the larger companies |Am T

Cutting the g P

days to a month. Erecting the|y

Foctory-Made Home Firms Get Set for Post-War Boom

By JOHN W. LOVE Times Special Writer CLEVELAND, Aug. 20.—The makers of factory fabricated houses are fixing to cut themselves a sizable chunk of the postwar residential boom. They are still busy on war projects, many of them with only one customer—the government—but they are planning campaigns to reach hundreds of thousands of individual buyers,

The war gave them the chance they had almost despaired of, that

Allegh Corp ... 2% Allied Chem .. 153% a Allis-Chal .... 37% Am Can ..... 3 Am Loco 12% Am Rad 9 Am Roll Mill 13% & 155 Am Water W 6% Anaconda ..... 6 Armour Il ..... 5% Atchison ..... . 597% Atl Refining ... 26% Balt & Ohio ... 6%

Beth Steel ... 59% Borden 28} Borg-Warner. . oo 34% Bdgpt Brass .. A Case J I ..., 110% . 38% a

sessnne

ns Edison ... Cons Vul Airc. Corn Prod .... 60 Curtiss-Wr A . Dome Mines .. Douglas Are. . East Kodak ... 1 Elec Auto-L . . Gen Electric ..

to $40,000. Some observers are not |Gen jocos °° $i% sure a reduction of costs of 15 to Jud RAYOR Lie 35% 20 per cent would be sufficient to Int Nickel .... 3% overcome the inertia of the market. [10 oe In the speed ‘with which several | Kennecott ©." 30% of the war-housing communities |Fo8°L5, & B-- 311 have been slapped together, the[Minn Hny .... 66% public has been getting the idea Nagh-Kelv on i that pre-fabrication means box-like | Nat Biscuit . 21% uniformity. To overcome this im- Nat Dairy Reg. 300 pression, a few of the makers have | 5, ¥ Central’ - 104 been pushing the term “precision Packard craves 3% building.” They are now playing | penn B B ... 67% up the variety of design attainable Proeees id G .. Ia with house panels or wall sections |Pullman ..... 341, built in the factory, and the decen- g¥"5, Of o-- 1704 tralization of both the manufactur- |Sears Roebuck.. 84% ing and erecting ends of the busi- |Stait gg 111 a7 ness. std Brands .... 7% td G & B . 1 37%

£ S eee Std O Cal .... Std O (Ind) .. Std O (NJ) .. § Stone & W .... 8 Studebaken cere &

Sunshine M 5% Superhtr ves 18% Swift & Co 26% Syming-G . 6% Timken R B .. 47 n A Lines 28% U 8 Gyp 0% U 8 Ind Chem.. 37 U S Rubber ... 43 U 3 Smelt .... 53% teel ...... 52% West Union ... 22 Westing El .... 9 Woolworth .... 39% Yellow Tr «.... 18% Young Sh ..... 614 Zenith Rad .... 32%

2% 2% 140% -150 3M 3M 83 3 122 12% 8% 8% 13% 13% 154% 154% 6Y2 6% 25% 25% 5% 5% 58a 58%, 26% 26% 6% 6% 59 59%, 28%, 28% 34% 34Y 10% 10% 110% 110% 45% 45% 78 8 25 25 22Y2 22% 13%2 13% 602 60%2 19%, 19% 21% 21% 58% 58% 161 61 34% 34% 36% 36% 41 41 52% 52% 30% 39% 68 68%, 30% 30% 13% 13% 85% 85% 302 303%. 31% 31% 38% 38% 66%: 66% 84s 84%2 12 12 21% 21% 26% 26% 19% 20 16% 157% 18 18 3% 3% 35% 35% 26% 26% 15% 15% 33% 33% 17% 17% 32% 32, 84 15% 15% 25% 25% 1 7 1 1 3% 31% 35% 35% 56% 56% 8% 8% 113s 113% 5% 5% 18 18 26 26% 6% 6% 46% 46% 27% 27% 70 170 37 37 42 42 52% 52% 52% 52% 22 22 93% 931; 39% 39% 18%, 18% 35% 35% 32% 32%

CLL LLL

N. Y. Stocks

CEH: LI: LLL:

rs LILLE:

tion of The

Complete New York stock quotations are carried daily in the final edi-

Times.

75 MILLION CREDIT FOR ALLIS-CHALMERS

MILWAUKEE, Aug. 20 (U. P.).— Allis-Chalmers Manufacturing Co. today announced completion of arrangements for a $75,000,000 victory loan from 22 banks to} finance war production.

In addition to financing new war

000,000 negotiated

ties,

Yesterday ..cc...

Year ago

production contracts, the credit will be used to retire a “V” loan of $40,last August.

DAILY PRICE INDEX NEW YORK, Aug. 20 (U. P.).— Dun & Bradstreet’s daily weighted price index of 30 basic commodicompiled for United Press (1930-32 average equals 100): .170.71 Week ago tasusnsinn ress sees T1044 Month ago cesessecsnsesasss. 17043 tne an seer nns se vues: 19709 | Fb Tel 1943 High (April 2) sesesene. 17240 1943 Low (Jan. 2) ..cce0.....166.61

%|alone in April,

PUTS INCOME AT 147 BILLION

Federal Department Says "Much of Savings in. Liquid Form.

WASHINGTON, Aug. 20 (U. P.). —The department of commerce predicted today that the national

income for 1943 will approximate $147,000,000,000 and announced that income for the second quarter had reached the unprecedented annual rate of $146,100,000,000, Income payments to individuals May and June reached. an annual rate of $140,500,000,000. The difference between national income and income payments is that the former includes corporate earnings. The department said that at this rate, personal taxes would be $14,700,000,000, consumer expenditure

7* | $89,200,800,000 and savings $36,600,-

000,000. In an article prepared for its monthly publication “Current Survey of Business,” the department said “in interpreting the significance of the surging level of. savings one should remember that these savings include windfalls that are the result of the price rise, and that they exceed the amount of voluntary savings which constitute an offset against inflation.” It warned that a large proportion of savings continues to be in highly liquid form and “will constitute a latent inflationary threat unless it is absorbed by ‘taxes or immobilized by other means.” Gross national product, which represents the total volume of business done in the nation, reached an annual rate of $184,900,000,000, and included $87,100,000,000 of war expenditures, $9,600,000,000 of other government expenditures, $2,300,000,000 of capital expenditures, and $82,200,000,000 of consumer expenditures, less a shrinkage of $3,400,000,000 in business inventories.

LOCAL ISSUES

Nominal quotations furnished A Indian. apolis securities dealers. Agents Fin COIrp COM cccescsee Agents Fin Corp pla esssscevee 2 .

Belt R Stk Yds ¢ aan Belt R Stk ds 6% iA ran: & fa Baobbs-Merrill 3% .

Book Drug So com 13%, Wayne 7% pid. Lis

Home T&T Pt oe Ind & Mich Elec “ ped »e cov Ind Asso Tel 5% pfd...... ie 104 Ind Hydro Elec 9% i d eee. 62 67 Ind Gen Serv 6% pid «+.105 i's Indpls P & L 5%% pid ..... 110 113 Indpls P & L cOM ......c00 eee 17% 19 | Indpls Railways com .. 14a 16 Indpls Water pf .....cccceane. .e Indpls Water Class A com ... 16% 18% Lincoln Loan Co 5% P id ween “ 9 95 Lincoln Nat, Life 37 N| Ind Pub Serv Bin ar 101 N Ind Pub Serv 6% -....... “108 106 *Pub Serv of nd 5% PL coeen. 101% 10412 *Pub Serv of Ind com «..... 16%. 18 Progress Laundry com ....... 127 14% *Pub Serv of Ind 8%. Pr ceses + 100% 103% *Pub Serv of Ind c .. 16 17% So Tod G & B 48 pid. oe 103 RE Hires. pr, WE ven irrerrnes 16% 18 CO 5% cocevesseeee 96 100 Union Title COM ..cevv0000 24 28 Van Camp Milk PIA coveeseeess 68% ..: Van Camp Milk COM ..cevasese 18 14 Bonds Algers Wins'w W RR 4% % eee 99 vos American Loan 58 51 ......... 97 100 American Loan 5s 46 ......... 29 101 Coat Newspape er ne Jgassi’. ees 99 ‘ie of Com B Co 4%s 51 ... 18 82 Citizens ad itt 4%sS 61 ...00 103 106 Consol Fin 58 60 ......... 100 d Asso Tel CO 3%8 70 eeuvs. “100% oir Indpls P & L 3%s 70 ....... 108 109% Indpls Railways Co 5s 67 .... 74 8 Indpls Water Co 3%s 66 ......108 110 komo Water Works 5s 68 ..105 can er Pac) Co 415s 49 ... 98 101 orris 5 & 10 es 55 59 .... 98 101 Muncie Water Works 5s 66° ...105 ew N Ind Pub Serv 3%s 69 ....... 106 108 N Ind Tel 4%8 55 -.c-.cocuuee 80 84 Pub Serv of Ind 3%s 73 .....102% 104% 85 ......c0 incon 28 101 Richmond Water Wa 58 §1 «.105 "as Trac Term Ss B57..0.00.4.18 81 U. 8S. Machine 100

Bs 52 ..... 95 |*Ex-dividend. !

‘GLASSES on CREDIT

complere with with “GOLD-FILLED” lenses for FAR OR NEAR VISION.

La tic | rest Opticians

Principals of this firm own factory and

Asked

Gp ¢

FRENCH LICK N. A. M. CONFERENCE IS SET

NEW YORK, Aug. 20 (U. P.).— The seventh meeting in the National Association of Manufacturers series of conferences on industrial relations will be held at French Lick, Ind., Aug. 23-27. Frederick C., Crawford, president of Thompson Products, Inc, Cleveland and president of the N. A. M.,, will present ,an industrial relations program. Wartime labor difficulties, including manpower, wages and salaries, collective bargaining and relations with government agencies will be discussed at the conference sessions. ®

TRADING IN GRAIN FUTURES IS MIXED

CHICAGO, Aug. 20 (U. P.).— Wheat futures maintained a steady to easier trend, and oats and rye firmed on the Board of Trade today. At the end the first hour wheat was unchanged to off % cent a bushel; oats unchanged to up % cent, and rye up % to % cent. In the September options wheat was unchanged to off % cent a bushel from the previous $1.447% to $1.45; oats up % to % cent from 70% cents to 70% cents, and rye up % cent to % cent from 98% @98%; cents. Lack of incentive in the wheat pit influenced selling and a slightly easier trend.

LEWIS UNION LOSES

Employees Protective association received 278 ‘votes in yesterday's election of a bargaining agent by production and distribution employees of the utility, it was announced today. The United Mine Workers, district 50, utility division, headed by John L. Lewis, received 217 votes, according to John C. Getreau, national labor relations board field examiner, who conducted the election. Thirteen voted for neither union and 508 of the 523 ballots cast were valid.

WAGON WHEAT

Up to the close of the Chicago market today, y TB flour mills and grain elevators paid $1.61 per bushel for No. 1 red wheat (other-grades on their merits), No. 2 white oats, 60c, and No. 2 red oats, 60c; No. 3 yellow shelled corn, 97c bushel, and No. 2 white shelled corn, $1. ne. LA i forties eens.

INDIANAPOLIS CLEARING ‘HOUSE

‘lever surplus ingot capacity has ex-

AT LOCAL UTILITY 2x

The Indianapolis Power & Light |,

* CHARGE | DENIEL

Batcheller of WP of ‘WPB Replies Ingots Being Used to Best Advantage. i

WASHINGTON, Aug. 20 (U. PJ), —H. G. Batcheller, vice chairman of the war production board, said today that surplus steel ingot voduction capacity arising from com~ pletion of new open hearth furnaces 5 has been utilized in the best inters ests of the war program. bic Batcheller sent a telegram | J that effect to Eugene Maurice the United Steel Workers (C. I. OJ; who said that the Bethlehem

surplus ingots produced by an company because of freight involved. : “Investigation shows that wher-

isted,” Batcheller’s telegram said, “such as at the Kaiser plant ih California and Carnegie mill at

porgram.”

under lend lease” and that Carnegie ingots have been used by U. S. Steel Corp. or other mills. Batcheller said that after cone ferences with WPB officials Mau= rice has agreed that the best pos sible use of steel melting capacity has been made by WPB.

BRANIFF AIRWAYS

OKLAHOMA CITY, Aug. 20 (U.

an expansion program that it hopes will give ‘it air cargo and transport routes to Europe, Central and South

the Panama Canal zone.

instead of the present five.

for sale immediately, and that at least 50,000 shares will be withheld for “future disposition.”

$5,000,000 in spent on equipment for effecting the foreign service. Under his pro-

spent in further development of present and proposed domestic routes and the other $1,000,000 would be used to operate trade area feeder routes, :

LOCAL PRODUCE

Heavy breed hens, 24%c; Leghorn hens,

Broilers, fryers and rosters, under § Ss c. old roosters, 16¢.

Eggs—Current receipts, 64 Ibs. and up,

Graded Eggs—Grade A large, 43c; grade A medium, 39c; grade A small, 26¢; no grade, 32c.

49¢c; No. 2. 4

Indianapolis Water C3, DIVIDEND NOTICE ; Preferred Stock ;

The regular quarterly dividend of dollar and twenty-five cents ($1. Ay share has been declared by the Boa of Directors on the 5% Cumulative ferred Stock, Series *“A”, 1, 948 13, 1 943,

Common Stock, Class “art

A dividend of twenty gents Py 4 » share has been declared by of Directors on the Class Ayn Common I'|stock, payable September 10, 1943, to holders of record, August 20, 1943. §

ELMER C. SCHWIER,

to holders of ‘record Septemblie

S East Market Street

Clearings w..icvevesensssrsns vee. $8,811,000 Secretary, | Debits .....ciiiieniirinniens e+ 13,166,000 “9 SERVING Z% INVESTOR | : Poa information on securities, so ;

essential to intelligent investing, has : been supplied by us to our clients for more f than thirty years. We believe you too, as A an investor, will find this a useful service. |

MEMBERS NEW YORK STOCK EXCHANGE

Henry Holt, Partner Telephone: Market 3501

Indianapolis, Indiana

FUNNY BUSINESS

; Wr, Wh E34

40+ 0 a, R ’ . EF > Ro “pe Jpreerrt, , } &

with en aaetds dA

Vy. o Yo 1) hei nr

V, nT eo rn » orn (itil ro Narn Vt » d

a Hp 22

thy SH pi Nerd ss

Co. was avoiding the processing of

Homestead, where new cpen hearths 8 tave been completed prior to com=- = pletion of rolling mill facilities in = some plants, such ingots have been | utilized in best interests of the war

The telegram said that Kaiser in- 3 gots have been supplied to meét .| “vital requirements of our allies

SEE hi IS

Ei an 55

TO INCREASE STOCK

ames

P.).— The board of directors of Braniff Airways today voted to increase capital stock from 400,000 = shares to 1,500,000 shares to start

on 5

America, the Caribbean islands and

The board of directors will be expanded to include nine members

T. E. Braniff, president of the airline, said that all of the new block of stock would not be offered

So I

The board took no action on his oo recommendation that $2,000,000 of expansion funds be

gram another $2,000,000 would be b.

oRutier—No. | 1, 50c. Butterfat—No. iy 4

payable October X