Indianapolis Times, Indianapolis, Marion County, 1 March 1944 — Page 7

etter hoe

a ROGER- BUDROW ——

| HOTELS ARE making ‘Toney again, but it is about “time, according to a roundup in Fortune, because for years | the hotel business, from the investor's standpoint, has

“when the huge Stevens was built, _ have always said that practically

"break even with 60 per cent of their

cen occupled in 1939, before the

| quarters in the McCurdy hotel there,

been hired away by Republic. Be-

‘camp. The hotels rushed

agreements In order to get the big-

- year, {it prevented $620° millions)

"acle or wonder drug.

. burgh) for tips on how to grow the

TEctunlly wild” organisms can get]

. grown under very controlled con-

for $80 million credit. Studebnker

been the prize dud. Chicago hotel men, who groaned

it | sii

bought hotel bonds when tliey

more profit on food and drinks than it does from renting its rooms, even when operating at a record-breaking 95 per cent occupancy. Most hotels can

rooms occupied. Thus-the typical 300-room hotel which was 60 per

war started, had a net loss of $18,000 for that year, whereas last year, 95 per cent occupied, and with food and drink sales soaring, it made a $47,000 profit. Of course, hotel operators’ troubles in getting enough help are well-known. When the shipyard at Evansville set up employment head-

it hired away a good portion of the MecCurdy's staff. When Republic Aviation put a plant in Evansville, it did the same thing. And when a Republic official growled to Ed Hunt, McCurdy manager, that his telephone service wasn't what he ‘expected, Hunt promptly replied that his old phone operator had

cause Sunday bus service was skimpy, Hunt said he had to send the hote] limousine around to bring his maids to work. , The Miami hotels, when gasoline and tires were about to be rationed, thought they were doomed. Then the army and navy decided to use Miami for training, later

the lease list, to get the army-navy sure money, but nqw are trying to, and usually do, squirm off these

ger vacation money of ‘civilian

pleasure-seekers. This doesn’t help}

their reputations any with the civillan stay-at-home. and military men are buried » abo it.

PAUL V. ‘McNUTTS War manpower commission says that, between April and. September last

worth of war contracts from being placed in cities where labor shortages were acute (the "Group. 3" cities). - On the other hand, it wes able to persuade the armed services to ‘place $739 millions more in cities having a labor surplus, f ss » =» INDIANA has three plants turning out penicillin, which headline writers. invariably call the new mir~

The public, knowing how slow production of penicillin is and how badly it is ‘needed, has hounded these plants (Lilly at Indianapolis, Commercial Solvents at Terre Haute and Schenley at Lawrence-

{llin molds “in the kitchin” ey've turned suck requests, however, because although it may seem easy to produce the mold,

in and spoil everything unless

ditions. no : ss ® @» : ODDS AND ENDS: The British pay about 4 cents a pound for bread; without the government subsidy, it would be about 8 cents. . That 25-cent dividend on Studebaker stock doesn't mean dividends will be- forthcoming regularly in that amount; when it asked banks

agreed to limit dividends to half of the net profits added to’ edrned surplus from the first of 1943 on. . . Business of Indiana farm implement and hardware dealers in ~January was nearly 25 per.cent ahead of a year ago, biggest gain of any kind of business that month. . Tecumsefi Coal Corp. has a Mack truck, which hauls a 50-ton payload of coal, weighs 90 tons fully loaded; it cost $25,000,

ARTIST SUPPLIES

A Materials . for the Profenion Amateur ‘and Student

NOFFETT ASS

Claims ‘Oil Shortage’ Only Artificial; Blasts U. S. Pipeline. NEW YORK, March 1 (U. P.)— James A. Moffett, former oil and housing administrator at the inauguration of the federal housing ad-

inition, Soda arise Harold L. Ickes, of the interior,

and said he would fight to force the resignation of the cabinet member. Moffet said that in his 38 years of experience in the oil industry, there always has been talk of short. ages and added that no one knows how much oil we have unless he can look under the earth and count the number of barrels, “At last the superman has been found-—Secretary Harold L. Ickes,” he stated in a heated interview. “He has looked under the ground and has counted the number of barrels left in the U. 8. A.—14,000, 000,000 barrels of crude oil”

Hits Experiment

He berated Ickes for his plan to set up a plant to experiment with {liquification of shale and hit hard at the secretary's plan to bring oil in from Arabia through use of a governmen t-subsidized pipeline from the Persian gulf to the Mediterranean sea. He termed the Arabian oil deal a purely commercial operation. Transportation of oil from Arabia to the United ‘States would be cheaper by tanker than by pipeline across

were included, ‘he said. “The pipeline,” he said, “can transport but one type of product, whereas tank steamers are flexible and can deliver gasoline, kerosene, Diesel oil, fuel oil or crude oil, and at destination, they deliver 100 per cent of the barrel which they have

loaded.” Why Pay Tolls? A

He decried spending vast arhounts for the pipeline and for refineries at the end of the line and pointed out that, according to the announcement . of the petroleum re-

for the operation was announced as | making o billion Barrels of ol Soil able for American military and naval forces for policing Jurope after the war. “If this is the excuse,” he added: “1. We should not be required to pay the British government the Suez canal tolls for the purpose of policing Europe;

NEW. YORK, March 1 (U. P)~— Dun & Bradstreet's daily weighted

i 1 il

ICKES TO wm

{W. Lee ODaniel Arabia even though Suez canal tolls Charles W, Tobey (R. N. H.).

e

The dinner ended with no grabbing whatever for the check and “Bill” paid off with $802.50 plus his

customary generous bonus to the

of creating an artificial oil shortage | Waiters.

Mr. Jack's smiles indicated he thought it a good investment. He said he believed he had made converts to his theory that war contractors should be allowed to keep enough of their profits to guarantee their hired help—“associates” in the bizarre Jack & Heintz, Inc. plant— jobs after the war. The exact number of senators and representatives who turned out for Bill Jack's free feed remained a mystery. His publicity manager, A. Edmund Hanson, explained that the check-off at the door “got all mixed up” and nobody could tell how many of the 149 who had sent in advance acceptances were actually present.

Four Senators There

The best estimate was about 100 and Mr. Hanson denied indignantly that the Mayflower hotel ballroom had been “papered” to make up the attendance deficit,

Observers could account for only four sena Harold H. Burton (R. 0.), Elmer Thomas (D. Okla.), (D. Tex.) and

Mr. Jack told his guests he “was not mad at anybody” but thought war department renegotiators had handled him a little roughly in taking away his entire profits. of $7.000,000 on 1942 business “and then putting me in the red by charging me interest.” ‘

Denies Profiteering

He had pald $5250000 of the profits in taxes and the renegotiators took the balance, he said. With an original capital of $100,000 and bank loans of $1,200,000, the company has expanded until itsésales of aircraft appliances to the government last year reached $102,000,000. This year it will hit $150,000,000. ~“All we ask if to retain enough to guarantee our associates 40 hours

FARM COMMODITIES

price index of 30 basic odities, So Ind G&E 43 ‘compiled for 1 iors Press | (1930-32 | United ae bo average eq ): ! ‘com... .. Yes ater a . 172.08{ven 0 fda Week{B80 +.vvesasses verre’ 172.39 : - Bondy Month BBO sisuianns “es vero ts-1T1:85 | Algers Wins'w W RR 4% ..100 ion Year ago, ee ess oie 171,80 | American Loan By go % 0 1944 high (Feb. 24) ..... ever 17240 (Oem Newspaper 4}as 43-81 . 99 1944 low (Jan. 15) .......... 170.60 | Eh naa 100 ZERVAS TO SPEAK 100 ; In r O. Zervas, managing di- » 100 103 90

Bill Jack Invites Congress To See Wonder War Plant

By NED BROOKS » Seripps-Howard Staff Writer ' WASHINGTON, March 1—William 8. Jack, Cleveland war plant proprietor who believes nothing should be done half-way, today invited the whole congress to visit his whistle-while-you-work factory and see for itself whether he is short-changing the government. Unlike the dinner which Mr. Jack tossed last night for 255 assorted members of congress, their secretaries, relatives and unidentified passersby, the invitation to Cleveland carried no proviso of all expenses paid.

* |manufacturers of electronic and metallurgical products, - which ‘was

*

of work a week after the war and give jobs to returning service men,” Mr. Jack said. “All we want is § per ~ent.” : The congressmen. thought that was fair enough. “I wish we had more men in American industry like you,” spoke up Rep. Calvin D, Johnson (D. IIL). «The party settled down to a discussion of Mr. Jack's alleged ill-; treatment at the hands of the government after the host had dealt with his unique application of employee relations—his free vacations at Honeymoon Isle, Fla, free lunches, insurance, “shoes, entertainment, health care. :

is profiteering, I'll say he is a liar,” observed Mr, Jack. Nobody said it. True to forecasts, it was a “dry”

Tells His Story

The meal was a simple $3.50-a-plate thing whipped up during the afternoon by the Mayflower chefs and consisting of seafood cocktail, soup, fried chicken, matching vegetables, green salad, meringues and ice cream, coffee. “Bill” Jack dined with his coat on, but he doffed it when he began

sport shirt. He told how he had cut the price |C of his automatic pilots from $4400, then to $2900, then to $1300, how he had reduced his contract prices during 1943 by 42 per cent and voluntarily returned $21,000,000 to the government, His 12-hours-a-day, seven-day week ‘schedule for “associates?” “I challenge: anyone to find a more healthy, happy and congenial ‘bunch of people—and they've had three years of it,” he said. *If every plant would adopt Jack

crease the supply of skilled labor by one-third, “There'll be ‘no unemployment problem after the war if industry is allowed to operate on private initiative.”

al. Net “32. Most of the oil which can now REGAIN E UILIBRIUM High Low Last Change be produced in Arabia, Kuwait and Ey MB Ew a Oe 3 Am Loco 1 . 1% Baiirvin 3 om 20 bY emencan om NEW YORK, March 1 (U. P).— (Aq mea a 8's’ ‘su ‘sie 300 ©. close to the Persian gulf, so it could | Tr commodity markets regained ATEN 138 158% 9% 3% be loaded on tank steamer at very their equilibrium today after yes-|im Tob B _...® 884: 8 + 4 little expense. terday’'s sharp reaction. The ad- Asavoudn "we 3h #4 #0 1% ' “Looks Like Scandal’ vance in mid-February farm parity Aithish . chee a o- a + % n en “hes “Is it not a fact that if the United |P®8 8nd & replacement demand (Bua foe’ ony if I 1 States government, for military and {00 technical reasons shaped the gen Steel ..... 36% Hi wu + ou naval purposes, desired oil from |general price trend. War 364, ne oo 3 Arabia, Bahrein or Kuwait, it| Cotton chalked up and held gains Celanese ...... 6% 38 38 — % doesn’t have to spend hundreds of (10 t6 35 cents a bale, although Curve Cro ish: &o% Ho + b millions of dollars? All it does is trading volume slackened on the |Curtiss-Wr 8% 5% 8% — 4% tell the American companies it | rise. Cautiousness of buyers in fol- | Du ‘pont = 130% 1300p 193% i i Rbankadiii ~—1lowing the advance, NOWEVer, Ye- [Gen Eieetris...3 5% 35 ~~ 35% + Tel “To ‘me this looks like a scandal, | flected & disposition to await further Dat un tHe Rh) surrounded in secrecy, and the|war news and Washington develop-|Goodrich ,,.,. 43 2% 43 41 | _{ American public should be fully ad- {ments on price control legislation. [Go0erear ....- 38% 39% 30% + vised of the facts, and, furthermore,| Grains held minor fractional int Harverster, 70% 0% 0% + % this oil should be developed by|gains in fairly active trading. Offer- [ohne dan .-.. S305 885° S44 — private . enterprise and initiative. [ings were limited, despite favorable |L-O-F Glass .. 43% 43% 43%... Why should the - government, | Weather and crop reports from the [fore AU 1 1 Hu I Bb « «through the petroleum reserve corp- [winter wheat producing area. « Marshall Fd .. 14 14 Moe oration be called upon to ester a S————————— A ade UN MN U4 + cture whi already been : Nat B i i fa ers Droge" tue ends bom ae LOCAL ISSUES [3 Bit 3 3 2 “A senate-house committee should {apaits. (= ities desler Bla d Asked Ohio O11 ..... I su be appointed to determine if the fois gen Pan Am Alf 3% 3h 330 Ta American taxpayer and public i Jenny Verbass in 6% 08% — should be called upon to finance |Belt =++- | Phelps Dodge» 31 ot 21 Tn what appears to be an unjustified or iDisster & 4) Lo 33 Beh be... venture by bureaucracy.” a 8 pure ot —_ Bu io Ia oH Moffett in his oil career served as Bay Bae or 12% Republic. ho «3% Ba Ha + 5% a vice president of Standard Oil of Hoo n 34a ™ 86% 88 ne r Y California and of Standard Oil ind & Mich Elec 113 116% Sot acum 11 13% Li Sg (New Jrges). His Intent oil con- ie £3 Brands os ; 3h 2% a WEI nection was ¢ an fornia- Wo... 37% - 4% sid ou i nd) 3 398 - Ni Tess Cor. wh he rouge Oc fa ESRD BEET e has severed his con-|Indpls Rail HUW wn 4 +N 3 : 20th Cent-Fox. 31% 21% 21% .... nections from the oil’ industry, he nd 3 Wate Class A com... 08 19% ud 8 Rubber 3 €Q% an dan + 4 said, so that he'can fight for the Lincoln Loan Co 5%% pf 9 SUR Steel ore A He Ha x bi resignation of Harold L. Ickes, |b R Matiory Srcn are m0 Ti Mo Iwesting Bo... 0438 _ 9434 oti ©. 3 FE a 30 © 22% |Zemith Rad ... 34% 34% 34% + % $%% pfd.... 102 108 DAILY PRICE INDEX [} ind ub ‘sere or "00000 | ILY 2 Pub Serv 1% 1. P. R. MALLORY WINS

FOURTH WHITE STAR

P. R. Mallory & Co., Indianapolis

lone of the first war plants to receive the army<navy “E" for excellence in production, has been awarded the fourth white star for

.|its “E”-penant. The white star is

awarded’ every six months for continued excellence in production,

U. S. STATEMENT

WASHINGTON, March 1 (U. PF) ~00v. ernment . and receipts for

of the boys at the.

“If anybody says Jack & Heintz!

his speech, standings before the |isoo.i microphone in an open-necked blue | Medium—

& Heintz methods, we would in-|G°%d

N. Y. Stocks EE

PRICES ON HOGS ARE UNCHANGED

8500 Porkers Received; s 3000 Held - Qver;::. Top Is $13.85.

‘Hog -prices at the Indianapolis stockyards today were the same as yesterday's bulk-sales, the office of distribution reported. The top was $13.85 for good to choice 200 to 225-pounders. Receipts included 8500 hogs, 1275 cattie, 450 calves and 1050 sheep. There were 3000 hogs held over unsold from yesterday. -

GOOD TO CHOICE HOGS (8500) -

«ro. 12.90013.10 . 1285013 . 12.78 1120 12.7%

360< 400 DOUNAS wsesessveses

Good 400- 450 pounds esssessee [email protected] 450- 500 pounds ..ececesenses 60@ Medium— 250 Pounds ....iee.ennne [email protected] Slaughter Pigs rg and Stade eae [email protected] A E (1275) Choice 8

NEW YORK, March 1 (U. PJ) Approximately 81 per cent of all common stocks listed on the New York Stock Exchange currently are | paying dividends, the big board’s| official publication, the Exchange, said today. .. At the close of 1943, of the 845| common stocks listed on the ex-| change 687 were on a dividend basis. There have been additions to the list since the first of this year, but the magazine said these would cause no change in the study. The average yield distribution of | 687 cash dividend payers was 6.1 per - cent, the Exchange said. The; shipbuilding and operating gro had ‘the largest yield, 11.4 per yh with the aviations second and] American companies operating| abroad third on yields of 9.8 and] 9.7 per cenf, respectively. » Counting in the 158 non-payers; | the total of common stocks had a divided yield of 5.4 per cent. At the close of 1942, the yield was higher, | standing at 7.8 per cent for dividend

combined.

MONTGOMERY WARD

million+dollar libel suit = brought

against the Miscrew Hill 3 h~ Was dge,

ing Co. by Montgomery lost yesterday when Fed J John P. Barnes directed the jury to return a verdict. in faver of the publishing company. The suit was based on statements Business’

count of Montgomery Ward's labor Montgomery Ward also had asked

C. F.~Brill plant in Philadelphia, by” manufacturers, who at least staid) advertisers. If .there is anything you want -but don’t see, just ride Sof Visillg 30 She Hiked eve ate Such JuRs/ers 48 ‘a how 4 waterproof the the inark while the bys Js In motion, ete.”

{craft ‘industry on a nation-wide

ihe Jag sel BE ns

Good and choice ......ecneee » 1.50@ 8.35 Common and med! 6.3560 7.50 Good and choice .......coune @16 Medium apraee eves 11. BEL. 14.75 .

819% OF N.Y. STOCKS | ‘PAYING DIVIDENDS

“FR iin int =

the. Rieke Metal Products Co, of ‘Auburn; Ind: Joseph W. McDougal, 1; president of Miller, announced 10day. The purchase, involving 51 per |cent of the Rieke company’s out ; standing common stock ‘capitaliza-

DETROIT, March 1 (U.P) ~The

nS CONCERN

IN BRIEF—

ASKS WAGE CHANGE~The war labor board was called upon today to abolish the ares wage bracket system and. stabilize the entire air-

“equal pay for equal work” basis. Delegates representing more than 750,000 aircraft workers associated with the United Automobile Workers (C. I O.) requested the change.

HITS GRAIN POLICIES—Philip Raymond O’Brien, president of jhe Chicago Board of Trade, said today that unwise government graifi policies were threatening the nation with a shortage of wheat for bread and feed for livestock.

HEADS RENEGOTIATORS-—Ap-pointment of Chairman. Joseph M. Dodge of the war department. price adjustment board as head of the

gotiations was announced today.

SLAUGHTERING DOWN-Slaugh-oo | Ver Of cattle, calves and hogs in federally inspected packing plants de90icreased 8 per cent last month from

substantial gain over February, 1943, the American Meat institute reported today. slaughter decreased 22 per cent from January, but was approximately the same as in February, 1943,

EDWARDSPORT - COAL MINE TO BE OPENED

i new war contracts price, adjust-| ‘er .80 ment board set up to fix policies | J [email protected] [end procedures for contract rene-

Sheep and lamb}.

S—————————

Alb thexviiderworldyovera

) the wounded marine in New Guinea, the Red Cross sends blood plasma—and life. To the flyer in a German prison camp, ft brings good, nourishing food from home—11 pounds a week. + To the sailor ashore in Glasgow or Sydney, the Red Cross provides entertainment, comfort and cheer. Wherever your boy may go—whenever he needs you most—the Red Cross is at his side. * And the Red Cross is YOU. It’s YOUR blood and YOUR bandages and YOUR sweaters and YOUR gifts.

payers and 6.7 per cent for both}

LOSES LIBEL_ SUIT;

CHICAGO, March 1 (U. P).—A|

horrible, ¢

statement giving its-ac-the labor situation

Jor S501 0 Tekmbirie tu Jor do K

—Field directors help to settle family problems, Red Cross directs its efforts to rehabilitating the wounded, getting food and mail to the prisoners of war, Though-its officers are recruited Army and Navy Nurses, it operates clubmobiles for men at isolated posts, supplies emergency forsigmrelief, teaches first laid and performs many more services. that make wartime suffering lass

00 pounds wos [email protected] . , 100-1300 pounds 111 122501435) Formation of the Shasta Coal And now it needs your money, urgently. 00-1100 pounds . [email protected]| COTD. to operate a ‘government- Give generously to the 1944 Red Cross War Fund. - ag er Sine near Edwards. Give gladly—every penny you can spare. The Red €00- 800 pounds rerviEe sean “18.00 18.73 - Was ounced today. sever has needed vourlicl am ait 800-1000 POUDAS «..ressssesse 16.00) R. E. Snoberger of Indianapolis is Cross eeded y Pp uch does 600- 800 POUNAS ...cevsvesres [email protected] present of the company; H. E. today, It’s never needed so much money. So please «1000 pounds ..... veenenas 13:[email protected] | How! 220.1000 pounds Luar N Chicas. ios Dray, dig deeper than you have ever dug before. Our soldiers, 500- 900 POURS .vessess veees [email protected] Sch erre Haute, vice : Sixes Ble. Common~— . 2.50Q11.50 president in charge of operations, . sailors and marines will you. 500 900 pounds ‘.....es.0enn : and G. A t, Chicago, ; : Bulls (all weights) Merchan ; Beef treasurer. Good (all weihgts) . 11.00812.00| The company expects the ‘mine oo AL 10. joaiL is Io produce more than" 800,000 tons FEMNEYS Medim ...vccoreranngannas . washed sixth vein coal ann y. Cutter and common ....... 8.009 9.75 uall Cows (all weights) All of the coal, during the war, will 00d reset A h09| 80 for railroad, utility and. indus- 33 E. WASHINGTON STREET Cutter and common .... 1.009 8.23 trial ]. Prposs. Production is *ex- pa CARROL oes’ rirsnresransivrne v : ta 1. CALVES (430) . pec start by Aug. 1 : Good rns (all went e.00016.50 - Common $0 medium ‘erareasne [email protected] Cull (70 Ibs. up). ..........0s 6.00@ 9.50 Feeder and Stocker Cattle and Calves AB 1eserenrennny 11.50@13:00 200-1080 pounds 1...» ranges 1150G13.00 800 NAS .ieanene eeene [email protected] 800-1050 POURAS +vvoavssceces [email protected] No 1000 pounds ..eeceess ees [email protected]. $00= 900 PONS ......... “evn 8.00@ 9:35 Calves (steers) 400-1000 OUBAR ~ressrresnn [email protected] 500- 900 pounds ......... A [email protected] and Chaten | 500 pounds down +... [email protected] oo 500 pounds down .......... [email protected]

Do You Know ALL That the RED CROSS ~ Does, for AMERICA'S LOVED ONES, in “Every Phase and Branch of fhe War?

‘When You GIVE to the RED CROSS War A {Fund You Make Certain That Your. | ak RED CROSS ls at HIS Side! teu i 3

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