Indianapolis Times, Indianapolis, Marion County, 26 October 1943 — Page 20

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's largest

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plant is Jdocated in

‘million pounds last year. Indiana also is the 10th largest airy state, producing 60 million pounds of creamery but

ter quantities of soybeans beuse they can't import such forfats as cocoanut, palm, palm and babassu ofl. After the will go back to these sources and then where is soybean argument, he asks. dairy interests may not fight 00. hard against repealing .of the penalizing taxes on margarine but they don’t want it to look or taste like butter. “They can color it ve

indigo, give it a taste like strawberry and put any vitamin in it . except A as far as we are con-

gt} volves more than just the . the soybean, cotton.

margarine producers. Consumers are getting in it also, Housewives see butter selling at 50 cents and 16 red points a pound

GRAIN FUTURES REMAIN STEADY

Prices Turn Firm After an Irregular Opening at Chicago.

CHICAGO, Oct. 26 (U. P)~— Grain futures opened slightly irregular but turned steady to firm on the Board of Trade today. An the end of the first hour wheat was up % to % cent a bushel; oats and rye unchanged to up 4, barley unchanged to up %. In the December optiorg wheat was up % cent a bushel from the previous $154%; oats unchanged

Wheat maintained a firm tone

‘{from the opening but general trade {was confined to. small volume. Prices rose under mill buying and demand by eastern interests,

LOCAL PRODUCE a breed hena 330: Leghorn bens Broflera frvers and vosters ander ¢

" [ibs,, 238¢. Leghorn springers. 23e.

Old roosters, i0e fo 7 Eggs Current receipts 84 bs and Wp

Graded Eggs—Orade A large, 50c: grade A medium 44c; grade A small 33; vo

Butter—No 1 a Butterfat—No. 1 the: No, 4 40e

but margarine at only 4 points a pound, and around 26 to 27 cents, including all the taxes. But they don’t like having to mix in the

coloring.

Possibly the scrap will center around the nutritional value of margarine vs. butter. Margarine makers say their product today is not_what the “oleo” of world war 1 was. Its 80 per cent fat content is equal to butter, it has the same calory content, 3000 per pound, and is fortified with vitamin A units equal to the year-round butter average. It oughta to be an interesting battle.

Automotive Wanted

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Top Prices Paid in CASH

from 76%; rye up % from $1.13%,|' and barley up % from $1.16%.

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advertising.

PROFIT DOUBLED

Nets $2,552,000 in First Nine Months, .Subject To Renegotiation.

Fa Times Special SOUTH BEND, Ind, Oct. 26.— The Studebaker Corp. and its subsidiaries in the nine months ended

Sept. 30, earned a consolidated net

profit of $2,552,084, after provision of $1,200,000 for contingencies and after all charges including depreciation, intérest on debentures, amortization of debt discount and provision for federal income and excess profits taxes, This is equivalent to $1.14 a share on 2,223,266 shares of common stock outstanding at the close of the period. It compares with a net profit for the nine months ended Sept. 30, 1042, of $1,279,607, equal to 57 cents a common share, In the quarter ended Sept. 30, the company earned a consolidated net profit of $870,985, after provision of $600,000 for contingencies and after all charges, equivalent to 39 cents a share. This compares with a net profit of $376,868 or 16 cents a share earned in the quarter ended Sept. 30, 1942, and with a net profit of $732,585 or 32 cents a share earned in the quarter ended June 30, 1943.

Capital Increased

The company's profits for 1943 are subject to adjustment on account of renegotiation of government contracts. Studebaker’s net sales, including charges to the government under cost-plus-a-fixed-fee contracts, in the nine months ended Sept. 30, 1943 totaled $262,534,622, as compared with $152914,322 in the corresponding year. Sales in the quarter ended Sept. 30, 1043, totaled $101,897,344 as compared with $65,625,044 in the corresponding period of last year and $87,120,256 in the quarter erid-

"37, "38, "39, "40, "41, "42 ALL MODELS -

ABELS 1030 N. Meridian RI-2831

SEE US FIRST OR LAST ° WE WILL STILL PAY YOU MORE

CASH MONEY

FOR YOUR CAR WRITE, PHONE, CALL

“Washington Auto Sales

400 N. Capitol LI-1451

8 a haan £ 22 727h CASH TETRA I

AT TOP PRICES! uh Lae, Cec F SALES 301 N. DELAWARE POR COMPLETE

2 EV, Laan

ed June 30, 1943. As of Sept. 30, 1043, Studebaker's working capital totaled $23,039,768 as compared with $21,474,585 on June 30, 1943, and $20,485,566 on Sept. 30, 1042. Current assets including cash of $16,521,528 ($10,502,617 restricted to use in perform ing contracts with the government) and accounts receivable from the government of $38,273,377, totaled $73,482,433 while current liabilities amounted to $50,442,665, Current liabilities included advances from the government of $21,460,278. A year earlier the company had cash of $20,229,926, current assets of $56,139,667 and current liabilities of $35,654,101. Earned surplus as of Sept. 30, 1043, amounted to $10,841,151 as compared with $8,075,544 a year earlier. gee Directors voted to call for redemption Jan. 2, 1044, all of the company’s remaining outstanding ten-year convertible 6 per cent debentures due Jan. 1, 1945, Out of an original issue of 841,646, there remained out-

standing on Sept. 30, 1943, $2,952,900| through

principal amount of these deben-

tures, including * $1,500,000 called|he

for redemption Dec. 1, 1943. U. S. STATEMENT

WASHINGTON, Oct. 26 (U. P.)—Government expenses and receipts for the current fiscal year through Oct. 33, compared with a year ago: This Year - Last Year «8 380 108,507 $20!

Expenses 8" T 834] War i. 1,745 18.899.937.785] «hf REAR Had ash Bal. .. 5,207,223

.630.408.496 4,334, 723, 188,807, 96.083, 132. 102.014 tation

748,

1927 1928 1929 1930 193+ 1932 © 19D

Indiana business reached a mew high In September, as measured by Indians university's buresu of business research Index, chiefly because of spectacular expansions in bank debits ‘and newspaper

Opinion Is Divided Over WAR EXPANSION

Results of Buttalo Plan

"BUFFALO, N. Y, Oct. 26 (U. P.).—Success or failure of the socalled “Buffalo plan” for control of manpower still is in than three months of operattion here, according to a study by National Association of Manufacturers. The N. A. M. report, which emphasized its neutral position neither indorsing nor condemning the “Buffalo plan,” is one of

BY STUDEBAKER;

employment service,

studies his capabilities and then directs him to a plant which is in most urgent need of his particular type of skill. He has the option, however, of refusing the job after going to the plant, Or the plant may refuse to hire him. .

Either May Appeal

Employees hired through bona fide labor organizations need not go through the’ , however, and nothing in the plan affects collec tive bargaining agreements. Any worker or employer may appeal actions of the USES or the priority board to an appeals board, which is under the direction of the Buffalo area manpower committee, If an employer violates provisions of the plan, the USES can issue availability statements to his employees—thus making them eligible for employment elsewhere. The plan also provides for issuance of eligibility certificates for other “compelling reasons.”

Claim Disputed In interviews with more than a

dozen industrial and labor leaders vitally affected by the plan, the

was that production goals are being

ference of opinion regarding the plan's worth.

believes that the plan “has been successful in a large measure in providing better distribution of workers.” The plan has not only worked, ac-

superintendent of the USES, but it has been successful in reducing turnover. 3

C. L O. Leader Objects

On the other hand, Burton H. Witherspoon, executive vice president of the Buffalo Chamber of Commerce, declared that the “twin objective of this plan was to stop turnover and absenteeism. But the turnover has not been appreciably stopped. “The theory of the plan has not been administered practically. Since the very beginning . . . the maJority of industry has hoped for the right of hiring by itself. The plan destroys man's invitiative. It dries up advertising. It makes it difficult for the worker to get employment, to get the kind of a job he wants. He cannot choose always the plant in which he works.”

0 Lis JE, ig is 4 £3

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TW34 1935 36 1937 1938 1839 940 1941 9eZ 943

There, a five-man priority board

cilities to be spent in 1044, $1,200,000,000 will go for machinery and

N. A. M. declared, the consensu;| met, although there is a wide dif-

Rob Roy MeLeon, executive vice | | president of the Niagara Power Co.

cording to Leo A. Sweeney, district [in comparative data of 1943 spend-

OUTLAY HALVED

U. S. to Spend Nearly Two Billion Dollars in Next

Year.

WASHINGTON, Oct. 26 (U. P). ~The government will spend ap-

financing expansion of industrial

spent in 1943, preliminary figures disclosed today. ‘ One of the most spectacular drops

tion and explosives. The government spent $1,881,000,000 for that purpose in 1942 and an estimated $605,000,000 in 1943. Next year the figure will fall to $75,000,000—~o0nly four per cent of the 1942 peak. 203 Of the near two billion for fa-

equipment and $720,000,000 for construction.

Alreraft Still Neo. 1

The 1944 estimates compare with the 1943 program totaling about

was earmarked for machinery and equipment and $2,020,000,000 for

ties in 1942 was $6,402,000,000, nearly half of which went for construction. Aircraft—the No. 1 arms program

with expenditure of an estimated $1,044,000,000 and will continue to hold first place next year. But the

an approximate $555,000,000, government statistics showed. Heaviest spending in this field

will come in the first quarter with % a total of $155,000,00 and the lightest in the last three months with $122,000,000. This year the expen-| sodium ditures ran $345,000,000 in the first

quarter and $178,000,000 in the last. Metal Program Cheaper An improvement in the non-

ferrous metals and the iron and steel facilities situation is reflected

ing and expenditures expected next year in these industries. Govern-

rous metals this year reached an

year expenditures are expected to be $240,000,000 and $220,000,000, respectively. The 1943 program called for federal financing of $425,000,000 in construction, machinery and equip-

dustry and $88,000,000 in high-oc-

mated, $160,000,000 and $71,000,000, respectively, will be spent. Machinery and machine tools

000,000, have only $63,000,000 earmarked for them in 1944. This industry once presented the most serious bottleneck in the war effort.

LOCAL ISSUES apolts securities Genrer ed Bla hans ee Pn OD ree 2 on

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6:30 Barly 6:45 Early Ha 7:00 World Today |Jem for Breakfast| World Ni 7:18 eta Birds Jam for Breakfast | Musical Clot 7:30 Time . to. Shine [Sons of Prairie Musical Clock M 7:48 News Song of Prairie M 8:00 Interlude Nelson Baker Brea 8:18 Barly: Birds Bandwagon : Breskfess 8:30 Mrs. Parrell Jamboree Shopping School Breakfast 8:45 Mrs.' Parrell Jamboree Shopping School - | Breakfast 9:00 Valiant Lady Jamboree Lora Lawton News 3 Stories Foibores ro Stump Us © . Hi fendly House a Institute 3 Child’'n| Friendly House Star Playhouse Modern Romances

will come in the expansion of fa-| cilities for production of ammuni-

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$4,770,000,000, of which $2,760,000,000| Common

rir | heiton Balk Rose ae y - « ’ 12:30 Farm = Circle Parm Front | Wally Days 13:45 Farm - Circle. | Dick: Pansier John Navy Salute ; 1:00 Dr. Malone Sons Prairie Music i Jures Jgdin Crome Linge hb 1:48 Goldbergs : Si Baker Editor's 00 Marlin Perkins 18 Whoeter poe! Sam & Geo. a :30 School of Air Dave 48 School of Air Hugh Cross 14d :00 Home Front T.B 3 Chek aoe Ren 3 A chess si 45 Song Shop Timmy. Dickens . | Widder 4:00 Bong Shop Time Music 4:15 Song Shop oe Time Musie Paris | 4:30 Pairy Tales Howard Carlson 4:45 American Women | Turf ‘Bar Time Front. Page Parrell

Good construction, Total expenditures|Medium for government-financed facili-|c

Sa ~topped the list of projects in 1043

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VOMAN IS INJURE IN AUTO -COLLISION|by ber husband, John,

driven by Morris Mrs, Catherine Schaler, 35, of 3423 (st collided > EE Saciilony 8. Delaware st., was reported in fair|sts. Stein was ; 13.93 CONdition in Methodist hospital to-|to stop at & preferential taSday after recetving lacerations near)with reckless

ment financial activity in non-fer-| Common + estimated total of $540,000,000 and| Sioa

Tir £ 1

0:00—Road of Life 0:15

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$605,000,000 in iron and steel. Next|Com FUNNY BUSINESS

ment in the synthetic rubber in-|Alceh Corp

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