Indianapolis Times, Indianapolis, Marion County, 20 March 1944 — Page 7

“MOND NDAY, MARCH 20; 1044

LY

| BUSIN 58

Law Curbing “stookholders’ - Suits]. * Called Wrong Approach » Matter

ng 8 et;

By ROGER BUDROW STOCKHOLDERS’ SUITS AGAINST MANAGEMENT

(eS are sometimes no more than thinly-disguised “shakedowns.” : 1 The New York State Chamber of Commerce made a surwith a number vey of suits from 1938 to 1942 and claimed that most of e third annual them proved unfounded and were conducted “principally for He Weeks the benefit of plaintiff’s attorneys.” ind their totals "This survey apparently was made aggregations,

to pave the way for a bill introduced into the legislature the next HOG a day after the report was published. The bill would make it much more difficult for

small stockholders to sue direc-|-

tors of large cor Top Advances to $14.65 as

.amp

TIN BRIBE

~ 500,000 FIRMS DIE—More than 500,000 American -business firms have ceased to function since 1941, bringing a. “gignificant” decline to the proportion of the nation’s economy in hands of small business, the commerce Sspasmen said today.

CONTROLS TO ST STAY—A federal reserve board official said today that restrictions on consumer credit and instalment buying will be continued as long as their need as an antiinflation device exists—probably into the post-war period.

0. K. DELIVERY GAS—To facilitate distribution of the few remain{ing new passenger automobiles, the office of price administration today authorized loeal rationing boards to issue special gasoline for delivery of cars to purchasers regardless of the

distance involved. Heretofore, the

limit on distance was 200 miles.

BE CHEF |e HITS NEW ofl

— Young Technicians Needed! To Continue Program, Dewey Says. WASHINGTON, March 20 (U..P.). ~More synthetic rubber is being produced today than the amount of crude rubber used in any year prior to 1941, Rubber Director Bradley] | Dewey reported today. But demand still exceeds produc-

tion and the program needs in-

creased alcohol supplies and the continued use of its young technicians to supply vital war and civilian needs, he said. Dewey revealed that primary construction of nearly all of the more

Bureau of Labor Statistics Reports 1.1% Drop By Feb. 15.

Times Special CLEVELAND, March 20.—Con= sumers’ food costs in Indianapolis declined 1.1 per cent during the month ending Feb. 15, to a point 6 per cent helow the peak level reached last June, according to William L. Phillips, Cleveland regicnal price analyst, bureau of labor statistics. The decrease in food costs for the nation as a whole in s the mid-January to mid-February 204 f period was 1.2 per cent. ¢ Abifity of U.S. to main- | The food bill of the typical Indi 3 Nota press eth AH anapolis family was 15 per cent + duction depends largely |, tran a year ago and 343 per

will be exhausted in fourteen og, Even at average onnuol, rate Supa during | 9, ne & be exhausted in 16 or 17 years.

Ind, March 20, porations for al- pon discovery of new 4 misman- FITR than 50 synthetic plants originally “= reserves. But new dis- |CCNt more than in January, 1941, ager of. the In. losed 8000 Porkers Arrive at Wan) INONTS ALL : Man planned had been completed. ‘1 ™ coveries within U. S. be. |base date of the “Little Steel” forSill *hopes” to “This is exact . Somery f $1.10 . a in net “But,” Dewey said, “war demands ~~ come fewer and fewer. {mula, he said. Compared with niversity spring Iv the Wrong wa. Local Yards. 3 decresse Of $1.10 per are insatiable and immediate. As Without new discover. | August, 1939, the beginning of the g full blast this to tif y : earnings for 1943 and at the same military operations = increase, sO + ies, some authorities es- | present war, Indianapolis food costs additional rectly a greal| oie increases ranging to 25|time revealed that $105,000,000 worth}, "ooo og tor the thousands timate daily output of | were up 45.4 per cent in February. yi id = cents were made in hog sales at the|of fall Geders had bees ejected be- of rubber products essential to a Known fakas will drop Decreases of 6 per cent for oggs , cause ortage during the year or r cent withi He and here yesterday, economist, declared, “an evil which Indianspollt Soctvares today, the|Cal Jan. 31, 1944. Net profits Proper prosecution of the war. .. . yen un Yn n 141 per sens for joss fruits ag from eight othe needs correction in a constructive Weights from 160 Fog pounds |amounted to $20,677,088 or $369 a Explains Need " . NW pa Te Suga ? am d en route. manner, both for the benefit of the J /10q 25 cents above Saturday’s(share on the common stock com-| " The picto-chart shows graphically continental America’s oil reserves, as of the first of this year, and : . in Military trucks, bombers, jeeps {beef and pork accounted for the camp today are vestors and of honestly managed pared with earnings of $26,437,854 or ’ : '| at the rate at which war needs devour them. Discovery of new U. S. reserves has slumped for five tions. I nied | Prices; weights from 250 to 330 were hiblous landin tt. additi pe [1.1 per cent decline in food costs, nny Hutchings, corporations, It cannot be de her: and other|$4.79 the preceding year, the annual amphiblous landing crafl, On-! years, and for the first time since petroleum become an important modern fuel, annual consumption has 10 to 20 cents higher; {he explained. r; Ed Morgan, that many Sorporations are mah. weights were steady to 25’ cents|statement said. al trucking to supply outlying mu-| been greater than new discoveries. Prices of most fresh vegetables Beds A0% Wave isiders” (the officers, thet friends Digher. : vod to| SEEK FEW DEFERMENTS—Alr- |Ditions Tactories—all have contrib. \ |dropped sharply. Lettuce fell 19.9 this year if the and relatives) than for the benefit| The top Wh HS aD Re |cratt war production council spokes. (uted to the increased demand.” T AX EQU ALITY HE ADS the Associated Employers of Indl-| LAWYERS TO HEAR MILLER [per cent, carrots 183 per cent and succeeds {11 find- of the true owners, the stockhold- Shoics included 8000 hogs, 1900 cat-|Men today declared southern Cali-| Explaining the need for young ana, Hoosier State Press association,| Merle Miller, chairman of the spinach 7.2 per cent. Potatoes, for him at the ro be specific. maIagemEnls te, 400 calves and 1000 sheep, |[OrhIs alfcraft plan's Wil fUr- | technicians; Dewey said most of the WILL SPEAK HERE Indiana State Chamber of Com-|American Bar association commit- | RO%ever, Jee BD bore So; speciiic, € tains ther draf men CaseS|rupber program started “from merce, Indiana Grain and Feed | ; often have voted themselves exorbi- 00D TO CHOICE BOGS (8000) where men are of extraordinary Sinn po its technicians grew Deniers associstion. Associated Sel studying tax simplification, will canned tomatoes 1.7 per cent, flour pected to “sign tant salaries, bonuses and valuable ;50. 140 pounds ............ $11 50@1238 value. A survey in January showed | _... Officers of the National Tax : {speak at the Indianapolis Bar 2s-|.7 per cent, bacon 5 per cent, and » Odom, pitcher stock options, entirely out of pro-| 140- 160 pounds .. .. 130001438 i that out of 204,000 aircraft em- y finds itself : ati tailers of Indiana, Indiana Bankers sociation meeting Thursday noon at round steak 2 per cent. aves; Joe Burns, 160- 180 pounds ,. -. [email protected] “The industry now tself in| Equality association will address a | adv 3 portion to the value of their serv-| ;g0_ 300 pounds .. \... [email protected]|ployees, approximately 1300 were!, _ ion where, if its young, ’ ~ |association, Indiana Association of the Columbia club. His subject will| Prices advances included a rise m the Braves 4.550 14.65 pos luncheon meeting of Indiana busi : fces and In recent times a new| 200- 220 pounds “~ . J43001488 under 22; less than 300 were 22 and highly trained technical men are Insurance Agents, Indiana Coal 'be “Pro to Date on Tax Sim- of 3.8 per cent for apples, 2.4 per id sacker from scheme has been developed, by| 320- 230 Pounds © 143591450 approximately 15,000 were in the 23- ness men March 30 at the Colum- Bress cént for canned peaches, and .3 per | league; Johnny |, hich 10 d ities 2% Im bi 14.25@143%| 9495 bracket. drafted, it will be impossible to Merchants association, Indiana Im- | plification.” tf k ch lder from Flore x laiye pensions and-asm 300- 330 pounds .. 14.38@ 1433 | 24-2 bracket. operate some plants satisfactorily bia club. plement Dealers association, Indi- Sgn} OF Pork Chops > are voted “deserving officers, at the| 330. Jao pounas 13.75G14.00 or to carry forward some vital re-| Speakers will include Ben C. Mc- ? * RIVKIN TO SPEAK rson, rookie ine expense of the stockholders, who|Medum—- = RR searches, It is hoped that a way|Cabe, association president and ana Association of Small Loan IVK DR. FOCKE TO SPEAK din in many cases have not received png sw RYE PRICES DECLINE il be to be found d by which it will be| president of the International Ele-|Companies and the National Coun-| pan B. Rivkin of the C. M. Bun-| Dr. A. E. Focke, research metalAdele an - any dividends at all or very Big- | nood to Cholee—m these men, irre-|vator Co. at Minneapolis; H. Vernon: cil of Independent Petroleum asso- dy Co. will speak on the manufac- |lurgist at Diamond Chain & Manuhs Fepors gardly ones, for many years. zi0- 30 Pounds weiebhssaais Bagne R AD routine eT, cra personal desires to| Scott, executive vice president, and | | ciations. ture and use of smokeless powder |facturing Co. will speak at tonight's esterday, Filoy “ Mr. Kuhn suggested that the| 330° 350 Doings ©oo0. erie 13.50913.70 'join the fighting forces, are of| Loring A. Schuler, manager of the gC = = oo or circle, {at the American Chemical society meeting of the American Society The sleet 2 ey Shousitiee a sxthanes Suission 360- 400 pounds ..ecoeeeenses [email protected] CHICAGO. Stason: 30 (U. P30 ximum value to the country in| association. Bane no capital stock; to teach y-| luncheon tomorrow at Hotel War-|for Metals at the Y. W. C. A. He Good — R. Tr imus i § i . a eepowered Le. depart-| 400- 450 pounds ..s..esere en. 1 wai Gratin atures March ola somewhat | ET present positions.” Sponsoring organizations include Se nom iren. will discuss tempering. ot have arrived ment” to which all complaints 450- 500 pounds straw see bsen * . ehsier tone on the Board of Trade abbath practice, might be submitted for hearing and | 3 [email protected] | today led by a decline in rye. e at least mide adjustment without depriving the At 11 a. m. rye was off 4 to % ;

¢ anything defl- complainants of resort to the| sse- $.5001L.75

ual,” the Tribe courts, if no satisfactory agreement

has been reached. A small regis- . [email protected] tration fee could be charged to dis- pape courage the filing of frivolous or|izee.i 16.00016.78 ub careless complaints. boast . = = 14.50915.75

»

[email protected] . 1WTQ18.00

off %, and barley off 5.

sts RETAIL SALES in Indiana {130-1500 made news last month. They | 700-1100 POURS «eoecosssess 1g

bushels of the spot article.

cent a bushel; wheat unchanged to

Heavy local and outside selling of rye depressed prices from the start. Prices rallied somewhat in later dealings. The bearish trend apparently stemmed from an offer by General Goods to sell 5,000,000

: ad pounds SANRERIR AA 5 in fv frst went down, for a change. It was $ive<130p 3, ti omen's a small decline, to be sure, less 700-1100 pounds .........e.. 10.75@ N. Y. Sto ks than 4 of 1 per cent. rireseenseres 15.00QILTS Gin meet Indianapolis stores, however, $00 190 Bounds esssussesstee Basie Heh Lo Low Last T : ° did much better. Their sales av. | 500- 800 sesseeceneee LAIQINS Ahn wm Joan Fogle, eraged 11 per cent over Febru- i Fol . Am loco ...... ro Hi ine = B June Fogle fin- ary last year and 7 per cent under | 500- 900 pounds ...ecreees.. ILTBOID0 Am Rad 80S 10% 0% nf... : press; stroke January this year. C0000 POUDAS ..or..oriczs J000QILASI AM T 4 Fo. 1010 1310 13% oo. Am Tob B 6! | the. 220-yard a un Bulls (all weights) Am Water W .. 8% 8% id — ® . ] be ODDS AND ENDS: P. R. Mallory| ood (a welehta) ........ 13001038} Amur 5” 38 “50 ed TC Yy .l & Co. is one of 75 plants in U. 8.) Good ...c.coniinrns vines J0IBEILIY i00INCD _.... S00 8 8 —1% Y yard individual ? MEBIMEN & cs vr.vnnntinrermns 10.004210.75! Bald Loco of .. 21% 20% 20% — 3a which have four-star army-navy| cutter and common ....... 8.50910.00! Bendix Avn ,.. 37% 37% 37a — is RM } ong “E” awards; there are no five-star Cows (all walghad) D 1.50@3300 Beth Steel Seen 80a 30% 60 - ia - plants yet. . . . Indianapolis de- | oats “° Er HEY ADT I © ap 1 partment store sales in the week 1% me Cerannte en 30s 36% 3614 < va 4 ending March 11 were 19 per out |" caves dee © Chrysler". Sia Bm Ew = A 4. over a year ago, best gain eaters (all weights) | Curilss- Wr Bh 5% — h Midwest... Henry Kaiser already | S58 "aan ”.11 111 ‘SSGiEa0) B0 Pin, 0. tb off, ath TX \ a publicity man or the Feeder and Stocker Cattle and Calves oan re 43% — i of, automobile plant he expects to Steers otors -.. 58%3 a 51% — % build in post-war China The | Chotes— A On he en A hi . Ba Goodyear ..... BW 43 43a — 3 7 Evansville Jlant of Republic Avia- 13.00 Qreyhound Cp. 20% 20% 0% see > YY ceive its 1 under- 500- ssasassess [email protected] yr bo - - -h £ bolt fighter plane Dec. 7, 1943, 20] 800-1088 Sees IRMOG TLIO IEE HIV [cL 31. T+ BN 7 months after ground was broke for | Medium— Kennecott .... 323i 81% — bu < the plant ny Dent of the 500-1000 POUDAS ceecvrcesenss 0.35Q10.50 Koger G & B 34% 8. B — 2 L - A Bell and Curtiss aircraft plants in| *0%- 5% POG ooo $000 B38) jens Aweratt TH = & | Buffalo don't like the Russian-Pol- aie ne Chote I” om Marshall ™d 15 H% 4% — ; 1 Sammie SE BE RH RLY aI ny a a \y ny Catenaus inne rd sans 5,584,000 : : + planes they make go to Russia. IOUHE. wissen sannnnss ivan ss 3 Sma 000| Nv Duties a 19% Ba = an 4 -y 1 4 Er EEE \ n Eo» — . Penney ........ iy Tg == 3 Tenants Are Warned Spring 55, &. Bi EC: 9 Eee REECE 5 . -— Ly ® . I * » f | Pullman ....... 43% 43% — un of Republic StI ... 17% % 17% — Renovating to Be Difficult’ is & & 3 & fre 57 B, 43 = 8 ‘ars oebuck . 2 y -— Wy Indianapolis tenants were warned today by the property management Socony-Vacuum 13 * lave 13. x division of the Indianapolis Real Estate board that “it will be diffcult|Scuh Pee .... 31% 30% dod —"'% if not impossible to have very much gone” this spring in the way of {Std O Cal .... 37 % 3H + %

cleaning, wall washing and decorating.

Std Ofl (Ind).. 33% 33% 33% . 54%

sonal work, regardless of what one which all tenants had a right to

that since the advent of rent control tenants throughout the country had been saved billions of dollars by having their rents reduced

imposed on the type of labor used |owners has obviously been reduced|Z®!*® Red ... 38% 38% 38%

in this work and there has been a in a like amount. A good portion constant and rapid increase in the of the money thus saved to the ten- LOCAL ISSUES

in relation to apartment units be-|because the money available for| Ind a Mich Elec cause their management and main-| maintenance work has vanished or| nt Sate tenance costs involve custodianiis so small as to be insignificant in| *ind Gen Serv ........, hire, and utility and coal costs! relation to what needs to be done. which are not encountered In sin-| And, even where necessity demands|Indpls Railways ccm ......... _ gle or double houses. certain structural repairs for the le CS Berets 108 “Very recently OPA announced| preservation of the property the Lincoln Loan Co 5%% oid. ves 53 97

5s loss value vs i from deterioration caused by lack bn Packin Soto st 11 en 100

ts Fin Cop €Om .evceeeee cons

of manpower, particularly for sea-/maintenance in normal times and Agents Fin Corp pid.

Stk Yds com

pairs must be made at once. ° [difficult if not impossible to have Delta Elec com enn: vee 1136 13% “The problem is especially acute very much of anything done simply| Home Tat Fi w Waris i pid: J» n

*Indpls P.& L pfd.. Indpls P & L com.

Lincoln Nat Life Ins com...,. 33 37

jmeriean join Mayen Am n bs 5. 9

& 10 Brores 88 80... 103

cost of materials, In addition t0|ants is the same money that would], mom ne,ductations furnished oy Indian:

this there is an extreme shortage have been devoted to upkeep .and Bid Asked

i Agen a . es I aii is willing to pay, and this applies} expect under former operating con- | BabbecMersiy com pid. 8.

even in cases where absolute neces-|{ ditions. It appears that under pres- Bobbatersill “5% pid . sity demands that certain vital re- ent conditions owners will find it “Comvith- Lora $3 5% pd” Tae 1.

Algers Wins'w W BR %%...100 .....

5 cle nat Works 5s 686. . “108 tomes tv 3 8 73.......101%

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Std Oil (N J). - ny + “Rents in Indianapolis were set back to the 1941 level while the cost| Texas Co... 40% a ie te P la 5 Y+4 of almost everything involved in the proper maintenance of rental prop-| ji" CrbeFox-- 2s Hh Ha — al a opu r Price erty has advanced sometimes as US Steel... 8% $2 5% — k much as 50 per cent,” the division from prevailing levels. This is UN-|iwesting Bi... 00% 88° 8% + said, “Ceiling i have not been|doubtedly true and the income of Young S&W 18% 16% lon = i

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