Indianapolis Times, Indianapolis, Marion County, 24 August 1943 — Page 19

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4 & i

Pan.

EE TTS

rn.

on taxes (based on present rates) as a wesult of. its

wo deal ‘with Foundation Engineering Co., eastern investment

trust, according to an snsiss by Goodbody: & Co. Chicago.

Security firm.

“The reason for the savilig lies in thé fact that the new

set-up takes Stokely out of the excess tax brackets, where such a large proportion of profit it taken in taxes. *

_The analysis generally. credits the

with shrewd management. ded in 1898 in Tennessee, the

Sompany has grown ‘until in. 1042

it was third largest vegetable and} fruit packer in

the nation. Libby,

McNeil & Libby is first, California Packing Co. second. The Heinz

company’s rankis|-

not known be-

cause it is priv-|

ately owned. Back in 1934

\ Stokely sold 9.3:

per cent of the fruit and vegetables packed by the Big Five. (Phillips and Snider are the other two.) In 1942 kel sold 14.6 per cent of 1. Fl

wy purchase of Van Camp Pack- + ing Co. at bankruptcy sale.in 1933 for only $275,000 was more than paid for in the first ryear Stokely y the Van Camp plant. Incident ; , Van Camp was the first food compeny to advertise nationally its products—pork and beans- espe-

' When Honor Brand Frosted

Foods Co, was in financial difficuleties in 1938 and 1939, Stokely bought. the company .for $150,000 and other considerations. The shortage in canned foods and meats has pulled this subsidiary out of the red now.

The Goodbody analysis “states that : Stokely plans to reduce its ded debt by about $500,000 a ear and that with improved profits . there ‘is a possibility that a dividend might be paid on the common stock. :

IT COSTS about $100 every time an Allison-powered P-38 drops one of those reserve fuel tanks which are snuggled under its wings so the trim fighter plane can go long disneces. The tanks are made of sheet 1, weight 90 pounds and can carry 165 gallons of gasoline. You can’t call that $100 wasted, however. The P-38’s can fly from

factory to fronts quickly and -much|

shipping space is saved. "And the $100 is nothing compared to the #8 one of aluminum which was first suggested. | ” 8 » ( BRICK AND TILE manufacwens angry because defense and. army. camps. are. ie of wood. The wood (and : paper) shortage could have been prevented, they say, if brick and tile plants had been given a break. : 8 #8 = : Pan American Airways Operates a Mediterranean ferry service, delivering wounded in

. Sicily to Africa. . . . Talk that 4-lard rationing will end stems from

RIGHT PRICING IS ADVOCATED

Charles S. Dewey Declares ‘Close Pricing’ in War Jobs Better.

‘WASHINGTON, Aug. 24 (U. Py. —Rep. Charles S, Dewey (R. IL), | assistant secretary of treasury inthe! administration of the late President Calvin Cooldige, said ‘today that industrial management is heing discouraged by government:

tices. He proposed that what he called “right pricing” be substituted for “close pricing.” = The" present close pricing methods, Dewey said, do not stimulate ency. Industrialists who receive an army-navy “E” award frequently are visited the next day by critical: war contract negotiators, he said, adding: . Favors Inefficiency

am I—a hero or a war profiteer?, 1 thought I was doing a good job by increasing production and decreasing prices. rn Close pricing permits an inefficient and high cost factory to make a profit but is expensive to the government, Dewey said. Right pricing, on the other ‘hand, would|o enable a manufactyrer to increase his profit only by increasing his efficiency, thus saving money for the government, he contended. Government officials assert that they recognize and reward efficiency but, Dewey said, “I. would like to know what these rewards are and what they mean in percentage of profit.”

Incorporations

Bessina Realty Corp., South Bend; amendment increasing authorized capital stock to. 2500 shares preferred stock of

stock without par value.

Englewood Electrical Supply Co., Inc. South Bend; amendment increasing authorized capital stock to 500 shares of $100 par value.

Kennametal, ' Inc., Pennsylvania ‘corporation; admitted to engage in the Tefining ot goes; -ete.

‘the. fact that supplies. are larger than last year at this time and civilian _ buyers seem ‘to prefer | meat and butter for red stamps. «+» « Cu=cum-squa, a new viné vegetable developed in Georgia, costs $5 for a single seed; its boosters _ say it tastes like canteloupe, can be pickled, fried, stewed, baked

working on dehydrated chickens.

56665656568

‘Help them start the new term right! If you are * short of money . . . borrow the amount you need at Morris Plan for school expenses and other bills,

5656566665 5S5S65S6S

56666666 SSS56665566556S 7

ay Ng

A and. contract renegotiation prac-|

“They think, and justly so, ‘What |

$100 par value and 2500 shares commen}

or boiled. . . » Swift & Co. is |

Indianagiolis Rubber Co. the plant

The Andianapolis plant of U. §. Rubber Co. at year with a rally Friday sight at the Coliseum, ‘ materials for the Spanish-American war, the a +E a uiictares of vate

and and ey Bean made clincher-typs bicycle tires and

G. & J; Tire Co. Now isin of 0. 8. Rubber Cos 32 plants in the

| |from the farmer to the consumer

t 549 E. Georgia st. is observing its During Js 59 yoats hers the Swmpan first world war the present. tubes

and tubes. | the U. 8.

{Crops We Can

“fredom from want,” : according to the University of Minnesota.

MIDDLE OF "44

“| Industry Now Nor Moats More

_ Manpower, Fabric, 0’Neil Says.

ARRON, O., Aug. 2¢ (U. P.)— American motorists should be able ta: obtain tires for their private automobiles hy the middle of 1944 if the rubber. industry finds the men and” women ‘to: build ‘them, William O'Neil, president of the General Tire & Rubber Co., said today. O’'Neitsaid that in the early days of the: ‘war the ;industxy’s main problem ‘was the rubber itself but he added that: the solution of this probjem : was followed by “other snags.” “There is some question about the amount of fabric we shall have for the carcasses of our tires,” he said. “Because of the change .in some tires from cotton to rayon a good deal of our milling eapaciy has been lost.”

‘ Notes “Snags”

O'Neil said, however, that the more. important “snag” was lack of manpower—a problem aggravated by. the loss of skilled tire builders to the army and other industries. “We will have “fhe rubber,” he declared. “We mast’ How tum our attention to getting’ ‘the ‘necessary help, to producing: ‘sufficient fapric, and installing’ the new. . we shall need.:ifp fill 4 o demand. = “He said the rubber’ dikes 1 faced the necessity of turning out 30 million passenger car tires in 1944. Pointing out that importations of crude rubber - from South America were disappointing, O'Neil urged immediate further expansion of the guayule program. He said chemists had not yet found the formula which would enable production of heavy military tires from Bunas rubber alone, “The need’ for real rubber is Just as acute 8s it was last year,” he said; “and guayule seems to offer the only solution.” O'Neil said’ he believed that a deal should be made with the Mexican government under which the United States would plant seedlings

in” Mexico, where. he-s: said labor’ was

readily available.

CORPORATION TAX

CHICAGO, Aug. 24 (U. P).—

| Randolph E. Paul, general ‘counsel

for the treasury department, said

%| today - that congress will. not be »| asked to pass new federal tax legis-

lation to become’ effective before

i204,

He sald that 1 ‘might become

0 enough to act as a check on in- %| dustrial enterprise. He also assailed 3|the notion that the corporations

b | should be permitted to accumulate|At!, Bean

| tax free funds for use in reconver-

PHONE for a LOAN=Any Time DAY or NIGHT.

‘The phone number is MA, 4455. Your application * will be taken over the phone and then you an come J to our office and get your money—only one rip Le

usually necessary.

_ Borrow on: Character or Auto—from $75 to $500 4 to

$1000 or more. You can i= ? repay ... up to &

: eredit ingiries are made

take as long as a year to

weeks to make first payment. No

of frignds or relatives. ini

“In the three-year period

}| U.S. STATEMENT |

WASHINGTON, Aug. M0 (U. P.)—Gov-| johns

INDIANAPOLIS CLEA CLEARING

S38 ot

Suggest Europe Quit Raising

Grow Cheaper

"MINNEAPOLIS, - Aug. 2% (U. P.).—Drastic post-war revision of the agricultural economy. of western Europe and modification in the indus-trial-economy of the United States and Canada are necessary to achieve

Dr, Walter C. Coffey, president of

In s report on a. study of post-war foreign markets for agricultural

SEES TIRES BY

products isued simultaneously with Dr. Sidney Smith, president of the University of Manitoba, Coffey proposed that western European .countries give up the production of such items as wheat, pork and . lard— purchasing these commodities from

*|the United States and Canada— 2. ¥]and devote their resources to more

profitable uses. With this country and Canada in more favorable positions to produce certain agricultural products

“lon a vast scale and at lower costs,

the report, which was prepared primarily for the governor-of Minnesota and the premier of Manitoba, suggested that the producing countries assist in reogranization of European agriculture.

= Would Revise Tariffs “The producing countries would

~ {also undertake to encourage nec-

essary reductions in their own tariffs to permit the countries of west-

ern Europe to pay for the larger quantities of agricultural products

{Which they shall undertake to ac-|%Q

cept,” the report stated. The report emphasized the immense value of such an arrangement in enlarging the wheat markets for Canada, the Argentine, has | Australia and the United States. Concerned primarily with the interests of the prairie provinces of Canada and the central northwestern states, the survey also suggested a rearrangement of the automobile industries in the two countries.

Seek’ Big Production, In Canada it ‘was proposed that cars be made available to Canadians as cheaply as in the United States

[and ‘that normal employment in ; that industry in Canada be stablized. [Go

In this country, the report suggested that employment in the industry be enlarged and the new post-war product be admitted to the world markets. under modified preferential tariffs, Advocating a high rate of industrial production at home to create a high demand for the raw materials from the rest of the world, the report stated that “our high demand is the basis of much of their production. “If our industrial activity is not maintained at a high’ level,” the

taken from abroad and the countries formerly furnishing those goods, especially the one-commodity countries, will suffer. : “In other words a highly active, well diversified internal economy whose weight in the world is heavy, places upon the rest of the world in

+|turn a heavy draft for goods, and

AINOT TOO HIGH--PAUL

thus it is that the domestic economic policies of Canada and the United States can have international effects of the utmost importance.”

N. Y. Stocks

Net High Low Last Change

os 2%

Allegh. Corp Allied Chem... 149

EaFre gn sreeFEs

Er arares press

ZRZY

FLEE LF AE FL rrr bE br LHL . a > :

survey continued, “goods will not be

H06 PRICES OFF 10 T0151 15 GENTS

Top Recedes 10 § to $15. 20 as 7175 Porkers Arrive At Stockyards.

Hog prices declined 10 to 15 cents at the Indianapolis stockyards today, the food distribution adminisWeights over 160 pounds made the 10-cent ‘slump while lighter weights were off 15 cents. The top was $15.20 for good W choice 200

to 220-pounders. Receipts included 7175 hogs, 2150. cattle, 600 calves and 2975 sheep.

HOGS (7175)

Jounds cebebesenians 3. [email protected]

120- 140 15.10

140- 160 poun 160- 180 pounds . 200

ree 16.45@14:55

[email protected]

Medium— 160- 220 pounds

Good to Chi » 14 N14. 14.10 14.00 13.90

etessesns 13.9

04— 400- 450 pounds ...eessseee.. [email protected] 450- 550 pounds eos0pessnsans [email protected]

Medium— » 250- 550 pounds [email protected] _ Slaughter Pigs Medium and Good—— 225- 550 pounds

CATTLE

Choice— 700- 900 pounds [email protected] 900-1100 pounds ....eecevcsse [email protected] J330-1300 pounds . ol 16.50 1300-1500 pounds .eescescssss 15.50

dounds . pounds 1190-1300 pounds 1300-1600 pounds . Medium 700-1100 Wounds Slog-1300 1 pounds.

700-1100 pounds

ssesessngess 13. 3@13. 25 [email protected]

aves se emus 140061350 Sess sersbany, [email protected]

seeisensan 12. 00@13. 75 [email protected]}. .

Choice— 600- 800 pounds Jue pounds

8000 "800 pounds 800-1000 pounds . Medium

seessrnanen 14.50 secession 14.50

cescccne seees 13.00 sesesnsece 13.00 1650

eben 19994044 [email protected]

15.78

. [email protected] [email protected] a 9.75

" Bulls (all weights) (Yearlings excluded) Beef-= good .e

sssenes ene [email protected] ®esensee . 13150

7 56 5: 00 CALVES (600)

Vealers (all weights) Good to ch Common and medium Cull (75 lbs. up)

Feeder and Speke O Cattle and Calves Choice—

500- 800 pounds ...... essssy [email protected] 800-1050 POUNAS .ivceeesssss [email protected]

« 11.76 eecssssssses 11.25

12.75

Good— 500- 800 pounds etsessesee pounds’ 12.60

800-1050 Medium— 500-1000 pounds Sete sstaten [email protected] Common-—

[email protected] Calves (steers)

Good and Choice— 500 Jownds dOWD ...evsenacss [email protected]

.. [email protected]

edium— 500 pounds down . [email protected] SHEEP AND LAMBS (2975)

6.00@ 7.00

11.00{ent, is expected to subside about

Nominal furnished Agents Fin So Soi ssessssnes 30 Belt R Stk Yds com ....cev000 Belt B Stk Yds 6% Did ooeees. 83 oe Bobbs-Merrill com ssseee 3% . Bobbs-Merrill %% ptd dsenees 40 Circle Theater com sessey 31% Comwlith Loan 5% it cesses 99 Delta com . 11

KEEy

1 | Indiana university's. bureau. of busi-!

[email protected]]

15.75

00 reported today. The movement of

a of September. Over most of Indiana,

“size than usual, in an effort: by

I. U. Reports.

mana bustoess th July was practically ~ from. June,

ness research reported today. “First of all” the bureau's

level at all ‘stages of distribution

gave ground. Employment in manufacturing industries has remained almost stationary for several months, and while nearly all plants have continued to hire new workers, labor . acquisitions have. just about kept. pace with the number terminating employment. As there was of the work week uk July in industry as a whole, there was little possibility of ine creasing production. “Consumers as a group had less money to spend in July than in June. There were no widespread upward revisions of wage rates, and payroll deductions for income taxes afforded consumers a practical estimate of the amount of money they

_ Coal Minding Gains “Undoubtedly many family budgets underwent drastic revisions during the month. Also, July is traditionally a vacation month and although many workers are foregoing vacations for the duration, nevertheless the drop in both employment and payrolls’ in ‘the state was not far from the usual seasonal decline for the month.” The I. U. bureau attributed the slight rise in its index for July to the resumption of more nearly normal operations in coal mines.

Indiana department store . sales were 20 per cent of June's, reflecting smaller consumer incomes and “perhaps lower stocks: of merchandise, Newspaper advertising moved upward and was seasonably higher than at any time this year. . Coal production, after two slow months, was the largest for any July since 1920.

Electricity production, which has been expanding gradually all year, made another slight gain in July. Bank debits were about 7 per cent lower than in June “as might be anticipated from the decline in production and trade.” Steel production, which usually declines about 5 per cent in July, was seasonally the highest since January although

16.50 the actual output may have been|.

slightly lower than the average for the first quarter.

: 4 Mass Production "X-Ray Developed NEW YORK, 'Aug. 24 (U. P.)— Engineers of the Westinghouse Electric & Manufacturing. Co have developed a new type X-ray machine equipped -with a candid camera “for “mass “prodetion” checkup on the physical fithess of American service men and women, it was disclosed here today. One such photoflourographic unit at the naval training school for women reserves at Hunter college has examined nearly 20,000 WAVES since last February and is geared to examine 2000 ° daily. The cost per exposure on the new instruments is about 7% of 1 cent, against nearly $1 each for the larger film (14 by 7 inches)

used in the standard X-ray equipment.

STATE WATERMELON CROP IMPROVING

Times Special LAFAYETTE, Ind, Aug. 24—Recent weather conditions in Indiana have been ideal for a good watermelon crop on the earlier acreage,

Purdue university agricultural’ statisticians, co-operating with the U.S. bureau of agricultural economics,

Indiana melons, very active at presAug. 217.

A total of 26 cars of watermelons was shipped by rail at Decker

Indian: | previous to Aug. 13. This is the

largest. rail shipment, from that point, on record. The Jackson county cantaloupe harvest reached its peak Aug. 15, with diminished supplies expected to be available until about the end of the month. At Ontario and Mongo in Lagrange county, light supplies will be available during the remainder of August .and.most

the cantaloupe movement will’ continue light for the rest of the season with the supply limited mostly to local consumption. - The onion ‘ harvest throughout northern Indiana started about Aug. 15 and was expected to be general by Aug. 23. Many onions are being harvested at a smaller

| | Workers: Hired: in July Only| | ‘fier Thos Leaving,

monthly summary said, “the price|-

would have available for consumers|

hires women drivers,

.A Chicago tricking firm, ranks depleted by war demands, NOW Nora Eichelberger, above, knows how fo pmt elbow grease behind a lug wrench when tire trouble hampers her Job

Kemper was the main speaker at a Republican meeting of 130 leaders, including five ‘congressmen, last night sponsored by Mark OC. Honeywell, Wabash industrialist, and presided over by State G. O. P. Chairman Ralph :Gates. “This country has had no better plan of defense than the Sioux Indians,” Kemper said in criticizing U. S. foreign policy. “For a half-century, it. has followed a course of aimless drifting.” He said that both business and

SUGGESTS WAY TO GUT ABSENTEEISM

FRENCH ' LICK, Ind, Aug. 24 (U. P)—Dr. Fred B. Wishard, medical director of the DelcoRemy division of the General Motors Corp., at Anderson, Ind. told ~an ‘industrial conference last night that management must take an increased interest in individual workers to combat absenteeism. - Wishard, speaking at a four-day institute sponsored by the National Association of Manufacturers, said the right worker must be fitted into each job, working conditions should be improved and executives

problems of the worker. Among

to substitute entertainment for scarce consumer goods in the family budget. Employer-employee relations, if properly cultivated, can cut down on absenteeism; he said. “The : trouble today is that the average worker knows the plant doctor, nurse and foreman—and ho one else in management's family,” he said. :

WAGON WHEAT ; Up to the close of the Chicago market today, Indianapolis flour mills and oh elevators paid $1.61 per bushel for No. 1 red wheat (other grades gn their merits), No. 3 vale oats, , and No. 2 red oats; 60c; = No. 3 yellow shelled ord 97¢ per bushel. apd No. 2 white shelled corn, $1.18. SH EEE No. 2 white shelled corn, u 16.

Olgess_ lean he 80 State

SAXOPHONE § 25 Instruction o

INDIANA MUSIC CO. 115 E. Ohio St.—FR-1184

RE. =

OBN BEOTS LEON "TAILORING 00.

growers to avoid rot which may

of the nature of the season. Recent distillations of Indiana

result from delayed harvest because |-

235 Mass Ave. 3 Nae Fist Block

the First Block

must show an interest in ‘the |i

Kemper Asks Cooling-Off Period Before Peace Treaty

LEESBURG, Ind., Aug. 24 (U. P.).—James 8. Kemper, Chicago, past president of the U. 8. Chamber of Commerce, believes that there should be a cooling off period before the world peace. conference is held and that business and agriculture should be represented in post-war negotiations.

agriculture as well as rlitary: representatives should sit in on ‘the peace conference to insure equit-

able adjustment of their postyar problems. Wheeler McMillen, Philadelishis,

editor of the Farm’ Journal, told

the ‘Republicans that farmers would produce more. under ‘free: ‘enterprise than under - government control. He said any failure to produce’ sufficient food could be laid at the “door of “agricultural bureaucrats.” Lothair Teetor, ‘Hagerstown, Per fect Circle Co. official, asserted that

‘taxes must be lowered. immediately

after the war to encourage ‘capital

to expand business and - employ~

ment. He warned that the’ country would face economic ruin. and socialism if tax. problems were. not the first consideration in the postwar period.

AL DEALET

MUTUAL AGENCY

1740 NORTH

NS ==

The CHICAG

146 E. WASHINGTON ST.

TIT

mint are yielding more oil per acre than was obtained earlier in the season. Weather conditions during the fist part of the month were favorable for oil production. .

LOCAL PRODUCE

(TEy7py.Va Low prices

ES If

AT OUR

, Lik

az Rehal 227 ill

Ie] / 7 Wa 4 el

on hy MR

on 2 BBA on Everything!

Diamonds, Watches Musical Instruments, = Cameras: Clothing, Shotguns, Ete.

JEWELRY: co, Ino:

BUSINESS DIRECTORY

Merchandise and Service

You Save Been Seve, Men’s Suits & Overco: 16" 18° 21" | CASE CLOTHES.

215 N. Senate Ave.

Lux Laundry |

for Better Service.