Indianapolis Times, Indianapolis, Marion County, 7 March 1944 — Page 5

¢

doesn't it? FLl0c0s r at” a tipation = ulosic” eleone of Nasources of 7 help the luff up and ontents for 'LLOCG'S purgative ut”! It’s a ing” food! tipation of LLOGG’'S several regularly, if you

- crude petroleum.

§ of the aluminum in this country,

Terre Haute

For Oil From Coal and Shale Experiment

By ROGER

THE COAL FIELDS NEAR TERRE HAUTE are being urged as a site for an experimental plant, financed by the government, to extract oil locked in the coal and shale. A bill, appropriating $30 million for such experimental plants, “has passed congress and the bureau of mines is lopking over - likely spots to put the plants. Although this is a new venture in this country, it is an old story in nations not blessed with great quantities of Germany has a large industry ‘extracting oil from coal and bituminous shale. Now, the high oil consumption for war has focused attention on the dwindling

U. S. supply of'ecrude oil and

that the U. 8. cannot “oil” another war.

Coal Fields Urged as Site

BUDROW

there have been predictions

Coal and shale are regarded as chemical “half-brothers” of petroleum, possessing ‘large proportions of the same hydro-carbons of which J crude oil is com-~ posed. The oil obtained by liquifying coal or shale is comparable with the lower grades of crude oil obtained from wells. It is more expensive to obtain, however, and thus it is not probable that the big oil companies will suddenly desert the oil fields for some time. Experts say some of the very best grades of shale could be processed into gasoline at a cost only slightly higher than the present costs of refining crude petroleum. But on the average, the estimated

ou of getting gasoline from shale

uld run around 15 cents a galbn, compared with the current cost tif around 5'% cents, using oil from vtells, © ‘However, with new technics and processes being developed, engineers siiy the cost picture could be changed considerably. mental plants will be the proving ground for such technics.

STANDARD BRANDS, which bought the Loudon Packing Co. of Terre Haute and the Standard Margarine Co, of Indianapolis last year, 1s expected to have a slightly larger profit than in the previous year, possibly $2.30 a share against $2 in 1942. :

BEFORE THE WAR, Indiana was’ the second largest soybean growing state, second only to Iii- |

nols, but Towa has pulled ahead | 1300-1

by about 600,000 acres, Soybean | goals for this year would double JTowa's lead over Indiana; they are Hlinois, 4,000,000 - acres; Towa, 2885000 acrés, and Indiana, 1,600,000 acres.

ODDS AND ENDS: Mead, Johnson & Co, the Evahsville baby food: concern, will pay an extra dividend of 50 cents April 1. . . . Indianapolis department store sales in the week ending Feb, 268 were 6 per cent

under a year ago, which was when 3s

shoe rationing caused many to beHeve other clothing would be rationed also. . . . Several years ago the Germans ordered large quantities of Swedish building stone, possibly for monumental buildings and victory mbnuments; it is still in Sweden. . . . Aluminum Co. of

America is turning out 91 per cent

with Reynolds Metals Co. and Olin Corp. splitting the remaining 9 per

cent of the business. Bridgeport Good—

Brass Co. made $1,287,000 profit last year, after setting aside money for renegotiation of its war contracts; that profit amounts to $1.24 a share acainst $145 (after renegotiation) last year,

ENGINEER SOCIETIES 5

PLAN JOINT MEETING

A Joint meeting will be held by the Central Indiana section of the American Society. of Mechanical Engineers and the Indiana section of the Society of Automotive Engineers March 16 at Hotel Antlers, The first speaker will be Edward R. Burn, engineering and research director for Aeronca Airplane Corp. who will talk on “The Post-War Personal Airplane.” Clarence A. Jackson, executive vice president of the Indiana State

Chamber of Commerce and vice Gol

chairman of the Indiana Committee for Economic Development, will speak on “Post-War Intangibles.”

Eastern Gas & Fuel Associates 1943 preliminary net income $3,119, %25 or $5.38 a share on 6 per cent preferred stock vs. $3,168,709 or $5.51

The experi-| $204

HOGS SELL AT STEADY PRICES

Top Remains at $14.20 as 9000 Porkers Arrive at Stockyards.

Hog prices were unchanged in an active market at the Indianapolis stockyards today, the office of distribution reported. The top was $14.20 for good to choice 200 to 210-pounders. Receipts . included 1700 cattle, 500 calves, 9000 hogs and 200 sheep.

GOOD TO vid s

ROGS 10

wena preva

14. R » 14 14.00 » 14.00@ 14.00 [email protected]

11.25Q13.80

Sess asnatias

. 13.25913.40 13.20@ 13.35 a adi « 13.10913.2% 500 pound Been Medium " 350- 500 pounds .....ocienon [email protected] Slanghter Pigs Medium and Good 500 pounds ............ 9.25011.50 CATTLE (1700) . Steers

15.75@18 + 15.75@16. «ee 16.0016 vee” 16.00918,

+ [email protected] ves 14.50015.75 . 14.756116.00 vee 14T5@ 18.00

700-1100 pounds 12.506 14.50 1100-1300 POUnNAS seuevesvess. 12.75@ 14.50 Common— 500-1100 pounds ........ ses [email protected] Chole 600- 800 pounds .. sees 15.00015.7% 800-1000 pounds . [email protected] 600- 800 pounds ves 14.00G 15.00 800-1000 pounds 14.259 15.00 Mediu 500- $00 pounds . [email protected] Common — 500 900

10.00§11.75

Beef * Good (all weights) cocvees. 11.00912.00

Cutter and common . Canner

SrA Livan eanbr narra

CALVES (500) Vealers (all weights) Good to choice ......c...vnnves 16.50@ 17.00 Common to medium ......... 10.00416.00 Cull (70 Ibs. up) ..v0ov0vnes 6.0010.

Feeder and Stocker Cattle and Calves Steers

Choice 500- 800 pounds ........ “eens non 800-1050 pounds ...eoeeessese 31 13.00

[email protected] va + . [email protected] Cal 5 Good and Choice Y ds [email protected] 9.25Q11.50 SHEEP AND LAMBS (200)

; Ewes (shorn) Good afd choice ............

Common and medium . LAMBS Good and choice .... d good ..

7.509 8.50 Levees 6.359 7.50

U. S. STATEMENT

WASHINGTON, March 7 (U. P.).—Government expenses and receipts for the rough Ma 4c

curregt fiscal year th ompared with a year ago: This Year Last Year Expenses... $61,663972,680 $48,777,947,378 War Spend... 57,672,678,585 44,943,074,006 Receipts .... 25,528 830,066 4,697,000,890 Net ficit . 36,135,122.473 39,077,486,237 Cash Balance 18,203 895,582 4,893,106,001 Working Bal. 17,531,118,901 4,130,509,324 Public Debt 187,391,384,354 118 771,958,630 id. Reserve 21,601,376,035 22,643,4323,970

INDIANAPOLIS CLEARING HOUSE

fade on their merits). 9c, and N

THORKING FORCE | ‘SHOWS DECLINE!

December Dip First Since War Began; West Coast Hit Hardest.

WASHINGTON, March 7 (U, P.). —America’s labor force suffered a net loss in December for the first time since the war began, the

in a report listing increasing layoffs, bad working conditions and homesickness among the reasons. In an overall survey of labor turnover, the OWI found that war workers were beginning to filter out of crowded industrial areas, par-

more especially in the San Fran-

found “alarming.” "Necessary production in this war, OWI said, has been achieved “with considerably less labor turnover than in 1918.” Nevertheless, it said, turnover still is a serious problem because war plants should be increasing, not decreasing, their working forces. 120,000 Leave

Besides dissatisfaction with working conditions and homesickness, OWI said, many workers have found that high wages did not mean greatly increased net income. Others, it said, had saved a little and wanted to go back home and buy “a place of their own.” The OWI listed the net loss in the working force for December as 12 workers per thousand (including layoffs)—a total net loss for the nation of about 120,000 workers. For every thousand workers, OWI said, 43 quit, five entered the services, six were fired, nine were laid off and 51 were hired. A significant feature of the report was that layoff rates were the highest in December than they have been since July, 1942, while the “quit rate” was the lowest of any month of 1943. OWI said that war manpower commission have played a big part in reducing! the quit rate, not only by freezing workers in their jobs but in stim-

office of war information said today i

ticularly on the west coast and

cisco area, where the exodus was

rease Monkey

tical experience in the maintenance shops before returning to desk work in the LaGuardia field offices.

IN BRIEF—

PLAN LIQUIDATION—Directors of Phoenix Securities Corp. have voted to submit to stockholders a plan for liquidation of the company, President Walter 8. Mack Jr, announced today.

MONEY CONFERENCE SET -— The long-awaited international monetary conference—third major united nations discussion of common post-war economic problems— probably will be held in this country late in the spring, but not in Washington, it was indicated in treasury circles today.

. THE INDIANAPOLIS TIMES _

Gillette Threatens New

ATTACKS DELAY IN ALCOHOL USE

Legislation to Force WPB Action.

By CHARLES T, LUCEY - Scripps-Howard Staff Writer WASHINGTON, March 7.—A senaet agriculture subcommittee is}. prepared to use a threaf -of new legislation as a club to force speedy action by war production board officials regarded as having failed to push the nation’s industrial algohol program as rapidly as possible. The committee, headed by Senator Gillette (D. Iowa) has put David Morgan, head of the WPB chemjcals division, under sharp fire for delays it believes could have been averted. Senator Gillette and Paul Hadlick, committee counsel, were especially

to develop a program of alcohol production using as a base sulphite liquors from paper mills and other wood by-products. The senator charged that Canadian technicians came here two years ago to disclose their alcohol - from - wood - sulphite plans, and that while our government has been unable to get going on a similar program the Canadians have made steady progress and are now selling us alcohol from this source. Morgan Stalls

When Mr. Morgan explained that studies were under way on these subjects, Senator Gillette exploded: “Youre making studies! Good Lord, how long does it take to make these studies? Don't we have as good technicians as most countries? We have the materials, the technicians and the need, what's wrong? Why can’t we get action?” Mr. Morgan, with whom the committee -had great difficulty in getting explanations which explained,

PLEAD FOR TUNGSTEN—Senators James E. Murray (D. Mont.) |

{and James G. Scrughman (D. Nev.) |

urging protection for the relatively | new tungsten mining industry, said |

{

today that if the government failed |

ulating employers and communities to reduce reasons for quitting, { Many workers in areas where there were large numbers of layoffs quit in anticipation of being laid off, OWI reported. It cited Provo, Utah, where 93 out of every 100 workers left their jobs in October,

and the rest leaving in expectation of similar layoffs.

800 BLOOMINGTON " WORKERS OFF JOB

. BLOOMINGTON, Ind, March 7 1 (U. P.).—Eight hundred employees {of the Showers Brothers Furniture pliant here, members of the United Furniture Workers (C. 1. O.), were off the job today, protesting against

QOL rire rastaiarnraeien j3%001 1 5 what union officials called war labor Cutter and common ...... .. 8.00910.00 bons delay in considering a wage adjustmen Bang. setswrretvertvinerinetrre: URSIN Prank Douthitt, International

> representative of the union, said

the workers also were dissatisfied with the éompany manner of handling the grievance. Douthitt said

10.00) the walkout. began yesterday and

that the plant was idled today. He charged that the company had not answered letters from the WLB, and that, despite the fact that the company holds no war contracts, it has made no effort to get such contracts. . A telegram from Assistant Director L. Crushank of the WLB today urged the local union not to strike, and Douthitt said that the board of the local was expected to take some i action later today.

STUDEBAKER PROFIT SHOWS INCREASE

SOUTH BEND, Ind. March 7 (U. \PJ).—~The 1043 dollar volume of sales by Studebaker Corp. was the greatest in the company’s history, H. 8. Vance, chairman, said today in reporting net profit for the year of $2,835,427, equal to $1.23 a share compared with $2,048,278 or 92 cents a share in 1942. : Net sales for the year, including charges to the government under cost-plus-fixed-fee contracts, totaled $364,191,211 against $221,420,582 in

183,000 1942, an increase of 64 per cent.

The company increased its work-

than $2,000,000 and redeemed all

in 1942,

0; avo corn, $1.08 the any faniel white shelled corn. $124

Sr compléte selection of Urns (especially designed for

cremated remains) is available at Flanner & Buchanan.

Our Crematory, the second

U.S. A, is available to those whose desires or religious be Urns, containing cremated remains, may

endorse its use.

stock.

oldest in any. Morhuary in ie

either be buried on the family cemetery lot or placed in our

Columbarium {a beautiful, perma taining niches for the Urns).

Visitors Welcome.

Write for Folder.

nent, Memorial Room con-

76 of them laid off as the result of the closing of an ordnance plant!

ing capital during the year by more Am

of its funded debt through payment A ts,| of cash and issuance of common |Atch

to continue supporting a price of] $24 a unit, the United States will “soon again be dependent on foreign tungsten.”

BOOSTS DIVIDENDS — Equit-| U. 8. will pay to its stockholders |

dends than in 1943 Thomas I. Parkinson disclosed today.

FORM NEW DIVISION—Forma-

the election of Henry W. Roden as vice president in charge, was announced today by Alvin G. Brush, chairman of the parent company.

Charles R. Hook, president of American Rolling Mill Co., has been elected chairman of the board, and president of Rustless Iron & Steel k€orp., succeeding C. E. Tuttle, who has resigned. Tuttle's stock in Rustless was acquired by the American Rolling Mill Jast month. Hock indicated American Rolling Mill at present owns approximately 60 per cent of outstanding common stock of Rustless.

LABOR PRIORITIES GROUP IS FORMED

John K. Jennings, director of the Indiana war manpower commission, announced today that a state manpower priorities committee has been formed to channel available manpower to meet production goals. He said the war production board, selective service system, the war and navy departments, the WMC and the aircraft resources control office would be represented on the committee, Jennings was named permanent chairman. Work of the committee will cover only the Indianapolis, East Chicago, South Bend and Ft. Wayne areas for the present, but Jennings said its jurisdiction later would be extended to the remaining Indiana areas where the situation warrants action.

N. Y. Stocks

Net High Low Last change Allis-Chalm ... 37 36 36% + Am Loco ..... 16% 18 16% + % Am Rad & 88 . 9% 9% 9% + Wn Rall 13% 13% 13% + % Am T&T ..... 159% 158% 158% + % Am Water W Li) 1% 8 worn naconda 2% 26 26% + % Armour & Co. b'% 5% $3 ... ison -..... 63% 63 63a 4+ Atl Refining- 30 2006 20% <4 8% Bald Loco ct . 20% 20 0% + Bendix Avn 36% 36% 363% 4 3 8 «.. 58%: BOW S937 + rden 30 M3 IN —~ WN Borg-Warner 36% 35% 36% +

a

Be EEEREER SEER ZZRERRSE g 5

FEARED + THEE

i : Assura {tion of the synthetic rubber proaisle Life hits Bosley ot the| ram has fallen on alcohol, which

this year $4,508000 more in divi- | President |

tion of a new food division by in development of projects for pro-

American Home Products Corp. and | ducing alcohol from wood sugar as

HOOK HEADS RUSTLESS— capture, after alcohol production,

. | Mr. Pollock said.

Celanese ..... 36% 36% 368% 4 Agents Fin Cop com ....eenan Ches & Ohio .. 47a 48% 47 — Yg|Agents Pin Corp pfd.....ess.. Chrysler ...... 82% 812 82 + % {Belt R Stk Yds com.... .~ Curtiss-Wr . 5% 5 5% 4 1/Belt R Stk Yds pfd..... las Airc 851, 55 55% 4 1, | Bobbs-Merrill com ..... BY ieee 144'% 143% 144% + 2 |Bobbs-Merrill 4%% pfd ...... 50 ..... Gen Electric 35% 38% 35% <- 13|Circle Theater com ........... Foods, ..... 42 43 42 4 Y%Comwlth Loan §% pfd........ 104 Gen Motors 56%: 56 56% + 15! Delta Elec com .......cecenns 12% eR ..ea00 44% 44's 44% 4 3 Hook Drug Co com............ 17 year ..... 4133 40 51% + 1% Home T&T Pt Wavne 7% pfd. 51'% ..... y d 2% 0% 2 — 33/Ind & Mich Elec 7% pfd...... 13 116% nd Rayon .... 40% 40% 40% 4 YaiInd Asso Tel 5% pfd ......... 102 108 Int Harvester . 71% 70% MY + 1d 0% s-Man ... 90% 90 90 + %iInd Gen Serv ........ sas woo 91 30% 30%, a Indpls P & L pid..... 08 111 4 33% 33% ~~ YiIndpls P & L com.......... i 17% “ 43a 43% <4 1a{Indpls Railways com ......... 13 14% 17% 17% 17% <4 Y2iIndpls Water pfd ............1086 ..... Celanese 80 60 — Yileindpls Water Class A com... : 14% 14% + %Nipincoln Loan Co 5%% pfd.... 97 45% 48 + YiLincoln Nat Life Ins com..... 33 12 12% 4 Y% |p, R. Mallory 4%% pfd....... 21% 21% .... |p R Mallory com -.... .2 32 32% + YIN me 18% 18% + 18 18% + 3s 3% 3% 33; — ig|N Ind Pub Serv 1% .......... SE BEET Sanenn . Ye 7 ress Loundry com . wes 29 28% BB .... d G & E 43 pid 55% ‘% Stokely Bros pr pf Ra 41% 40% 41% 3% | United Tel Co 5% ....coveeuss 97 © Lo... on BE BN DG tan 20% Ya ers NSW EE Tae... aie 87 1

said that was a hard question to answer. . His statement that it takes time to work out the problems involved didn't satisfy the committee, and Senator Gillette warned that “we don't know who is responsible, but we hope to find out.”

More to Testify

The committee is emphasizing the importance of increased alcohol production because so large a propor-

yields the butadiene needed for rubber. About three times as much butadiene is being made from alcohol as from petroleum. The senators have shown the] same impatience with WPB progress:

in the proposals for utilization of paper mill wastes. Another point of committee at-| tack will be the progress, or lack of it, in initiating a program to re-|

valuable feeds from the “spent” grain. The committee has asked the WPB for a detailed report,! showing to what extent salvage! equipment is being used by the dis-| tilleries. Senator Gillette, joined by other: senators, has also placed blame for the slow development of the alco-| hol-for-rubber output on the White | House for failure to accept legislation passed by congress some two years ago. He said he did not doubt that if there had not been a veto| “we would have all the rubber we! need from synthetic sources.” Additional alcohol and rubber production officials are to be summoned before the committee soon.

2 STOKELY PLANTS T0 GET ‘A’ AWARD

The first agricultural achievement “A” awards of the war food administration to Indiana food processors have been granted to the Stokely Foods, Inc, canneries at | Greenwood and St. Paul, E. O. Pol- | lock, midwest regional director of] food distribution, announced today. | WFA’s achievement “A” award is! granted only to food processors who | have achieved outstanding production results, Mr. Pollock explained. “To earn it, a plant must meet the! same high requirements as those! who win the army-navy ‘E’ award. There is no diffrence in the] standards, but A awards can be! won by seasonal as well as year-| round food processors, even though | they do not deliver the greater part | of their production to the armed forces, because of the importance of food in maintaining the home front that supports the battle lines,”

a

LOCAL ISSUES

Nominal quotations furnished by Indian-| apolis securities dealers,

‘McNutt Promises To Aid St. Louis

WASHINGTON, March 7 (U. P.)—~War Manpower Commission Chairman Paul V. McNutt has promised Rep. John J. Cochran (D. Mo.), that St. Louis will be _ given preferred consideration in the letting of contracts for war materials. : Cochran revealed today that WMC officials had assured him ‘that they will do “all within ofir power” to re-establish St. Louis in the war production program. Cochran said have been closed in the St. Louis area because of the changes inthe type of quantity of war production needed, and that it has been classified as an area where substantial - labor reserves, exist after six months,

LOCAL PRODUCE Heavy breed nens, 33; Leghorn hens,

Brollers, fryers Ibs., gs Lyon springers, 23c. Old rs, 16c.

Eggs—~Current receipts, 54 Iba and up,

Graded A medium, : grade A small, 26¢c; no

Butter—No, 1, 80s. Butterfat—No. A 49c: No. 2, 46c. ;

Tune In WFBM 4:15 Monday Thru Friday—Free Parking

caustic about this country’s failure|3%

THREE INDIANA WAR PLANTS WILL GET ‘E’ Three Indiana war plants will receive the army-navy “BE” for excel-

lence in war production, it was sn-|1043 preliminary nounced in Washington today. They are the American Bridge|$4,129,126 or $3.13 in 1942:

+

ufacturing Co.'s plant one at Mishe awaka, and } . Hammond.

Alleghany

3

315 or $291 a common

several plants

will

and roosters, under 5

ade A large, 3lc; grade

Star . Store, Second Floor

$99

o $395

. A splendid selec gree casual and red,’ green, beige, etc.—all have to 9. soles. Sizes 4 tar Store, Street Floor

New Easter Blouses

A

# front styles. Sizes 32 to 38.

Copyright 1944, Stephano Bros, Phila, Pas -

Women's Spring COATS and SUITS Have Their Fling

1 Y Chesterfields, Boy C oats, : Reefers and "Boxy Styles— { Black

coat a winner for spring — sizes for women and misses,

° THE SUITS—

. + . in plaids, checks, solid shades—Also black and navy. In 2-3-4 button versions with club or notched collars. Sizes 12 to 44.

tion of ration

sport ghoes in white,

new wear tested

LARGE SIZE BLOUSES White rayon crepe w

Navy, Pastels — every

The leg is made of high-twisted rayon yarn. Garter tops, soles and toes reinforced with cotton for better wear. Two popular shades— triumph and sun tan.

Star Store, Street Floor

with frilled front or polka dot prints. Sizes 38 to 44.