Indianapolis Times, Indianapolis, Marion County, 22 March 1944 — Page 7
BRS 28s =e iid
& 5 :
® 2 8 1
g :
lefeated Wil. , and Mra, ed Mrs. John first of four
teresting :
. grade, 2
* Power Bright
By ROGER
THOSE WHO HOPE INDIANAPOLIS WILL. PROSPER after the war have something tangible today upon
which to base their hopes.
A factory-by-factory survey by the Indianapolis Power & Light Co. shows that about three years after Japan is
beaten, the industries of this
blast as they are today. And, admittedly, today the city is more prosperous, from high employment and large payrolls,
than ever in history. It is a bright prospect to look forward to. The electric utility's survey also reveals several other inthings. For example, ; after Germany defeated and
&
celed, tadisnapolis will not experience the drastic slump that many areas will for the simple
and the war against Japan is expected to be a
The sale of electricity is one of | 2%
the best day-by-day indicators of the city’s economic health. Although it is something that is manufactured and sold almost instantly, it must be planned long in advance. Co. was
fore any Intelligent planning can be done. H. T. Pritchard, president of the utility, also told stockholders yesterday that company engineers had gone over the utility's equipment and decided what new equipment would be needed to take care of business in 1947 and 1948. Just to be sure, the utility is asking Stone & Webster, a prominent engineer-!
ing firm, to check the estimates. | 1° I gee Rye futures opened narrowly ir-| Tenn. Where is the money coming from? 00-1100 pounds ....... exeees 12.00@14 75 | regular. as Stuart Chase asks in his new! [1100-128 pounds seernesienns 130091475 in fair quantity. book. Well, not from where Stuart] 700-1100 pounds . ........... Chase would get the money which $ Setters were bullish factors early. would be from the government ge. 800 pounds ......... ..» [email protected] Prices tended to weaken. who would get it through taxes! 800-1000 pounds ...... sessve. 15.35916 00 No, the Power & Light Co. has $5% oe 800 crssvasesse [email protected] million in the till now for new 806.1000 rsnrersns B 15.25 N. Y. Stocks equipment, much of which would] 500- 906 pounds ............ [email protected] Net have been spent by now if it weren't| -ommon - | 500- 900 pounds ............. [email protected] High Low Last Change for the war and the difficulty of Sells sll weights) : Allis-Chal «.... 3% 37% 30% getting materials. That money has|seet— A Hh Bh Mx been saved. Mr. Pritchard said he| Sood aU weights: ........ S001 om Rad & § $10 9% 10 hopes the ‘company won't have 0! Good ...................... 0.003 A Roll 30. Je MMi -— Med! [email protected] Am 157% 157% 157% a“ issue any more securities to Obtain Stim Loire : ‘aa! Am Tob 5 as 6 2% + Cutter and common ....... 8. 10.00 Am Water W 1% 73, ™ ... money to finance its post-war Cows (all gti Anaconda ..... 27 26% 28% + CHO nx sanesssonconnrton von J 4 3 3 . in ude progam, MOBI snares 100001200] DCUE & C0 - dn on a2 . ping also observed hut Quite and common. ......... Tdi Baid loco wm . 2 2 AC earnings ve been “ TTT 1 Jendix yn 2 2 2: + 3 considerab! Steel .... 61% 60% 60% better” in the first two months of v cates wo Seth St 7 pt i 11% Te el this year: that the reduction Inigo, to choice .............. [email protected]| Borg-Warner .. 31% 3 7 37... | rates to commercial users, made Common to medium .. ....... 9.00 Celanese ...... TY MY ITY + last year. will amount to about|® (70 ibe. wp} ..... 268 1.0 ae Ohio. 400 1% Mh | $250.000; that the company burns| Teeder asd Stecker Cattle and Oaives es Sh 3 Su * Senrae cine, and. ‘a th TES pot ov ol EE HR HEE e an e! 500- 300 pounds ............ ec c . i management has “excellent rela- Ty vuunds co i ia en Motors .. san S3 HH + tions™ with its employees union, the « 83081 £8] Gosaricn el I independent I. P. & L. Employees’ | Op. 3's 50%, 20% — po Protective association, which de- | omen. TRUM] ing Rayon. Mi. 3p, 9, feated John L. Lewis’ United Mine| 500 900 pounds ...... SW 83 | Rinnscorr —._ 31% 31% 31% Workers in an election last “August Calves steers) Kroger G & B 351, 33% 38% + L-O-F Glass . 1 iN TA. and which, Mr. Pritchard declared, | go¢ and Chotce— [email protected] | Lockheed Areft 173% 17h 17% is “not a ‘company-dominated ~ Mont Ward 45% 44% SN — on” 900 pounds : 0.00@11. 72 Nat Biscuit 2% an; 31% + | io the 855.426 Calves (heifers) : Ne Dar 208, 20 +3 + - 426 shares of stock.| 3004 and Chotce— Ohio Off ....20% 193% 20 + 481,416 were either represented by 800 pounds down .......... [email protected] acharg we nn rot 3% — 8 .n 2 "eo an Se" esse. $3@1100| Penn RR 0 2 wn Aw lager representation of stock than Co gai yo Lo Joenae| BEE EF GW dC at last year's annual meeting. All SHEEP AND LAMBS (300) pure. Off ..... 18° ie 18° + a . Ewes ishorn) Repu 18 1TH 1TH... directors were re-elected, Good and shoice 1309 130 on Too 3. Bn Mb onn + Common and medium 6380 1.50) Bears Roebuck 3 no. nn LAMBS Boe Vaccum 4 he 1 3 reve ODDS AND ENDS: Motorists) Good ana chotee .. 7... 13009163 South Pac on Ha hk Who have been getting their “A”|Jfeanie and good ........... [email protected] id O Cal 3a 3% MW — books through plant transportation itd Oil N J Ba Hh a - te committees will get them by mail y | Texas Co 90 8% ay — W from local boards next time: plant | M KELLAR RS HIS vs ho FH Fi > a 3 committees will continue to handle a Ma 4 NK + be “B” and “C" books. . . . Studebaker i GRIEVANCE {Li o Bom wn oe mi el 12 Jue ointanes J Zenith Ra 38% wh we Ca has been rolled up in testing WASHINGTON, March 22 (U.| P mill { LOCAL ISSUES
tary vehicles at its South Bend
proving ground.
% gownd. TT FEED WHEAT FROM
& Light Co. Survey show Future for Indianapolis
BUDROW
city expect to be going full
HOG PRICES OFF 25 T045 CENTS
Top Slumps to $1 4.15 Here; 11,000 Porkers Received At Stockyards.
Hog prices cracked 25 to 45 cents at the Indianapolis stockyards today, the office of distribution reported, pulling the top down to $14.15 for good to choice 200 to 210-pound-
ers. Weights between 160 and 400 pounds were 25 to 45 cents lower
Receipts included 11,000 hogs, 1200 cattle, 600 calves and 300 sheep.
GOOD TO CHOICE HOGS (11,000) 120- 140 pounds , pounds ...
TOTAL 3 206.121
SOURCE: U. 5. DEPARTMENT OF LABOR
RIC BY PICK-S. N. V. ou
Int'l. Harvester Sales Up, But Profit Falls Million
CHICAGO, March 22 (U. P.).—International Harvester Co.'s sales in 1943 were the largest in the company’s history, but income was $25,692,944, a drop of $1,053,608 compared with 1942, Fowler McCormick, president, reported in an annual statement today. After payment of preferred stock dividends, the net income equaled $4.70 a share on common stock, compared with $4.95 per share reported
tp ’
B88s 83
180220- 140 240- 270 270- 300 300- 330 330- 360 Medium 180- 220 pounds
[email protected] [email protected]
Good to Cholce—
270- 300 13. 50 300- 330 . 1330913.50 330- 360 vor 13.25013.48 360- 400 cers [email protected] Cede. 130 pounds 13.10013.35 450- 500 pounds . +. 131001330 Medium ~ . 250- 500 pounds ........ “oes [email protected] Slaughter Pigs Medium and Good 280- 500 pounds .... [email protected]
16 0091678
« 14.7% . Hun
15.75 | 18.75 |
P.).—Senator Kenneth McKellar (D.| Tenn.) claimed today to have, proval of controversial ‘amendments to the $8,557,000,000 ptf
“TVA”|
: Wheat strength | factory project is approved [email protected] and the tight feed grain situation |ly, manufacture of machines for Later | equipping the plant can be complet-
(U. P)~
oe GRAINS IRREGULAR ON BOARD OF TRADE
CHICAGO, March 22 * iGrain futures developed an irregular trend on the Board of Trade today after a firm opening. At 11 a. m. wheat was unchanged to up %; oats off 4 to up %; rye unchanged to off %, quoted up % to %. May wheat prices rose to within % cent of the ceiling under fairly| lift or exert pressure downward; a so| 800d commission house buying. In-| mechanical cotton picker for small
terest continued to center in the | farms and a larger cotton picker. current delivery with buying in dis- | | tant contracts held in check by re- ernment to release materials and {ports of good moisture over the! | machinery for the immediate con16.00 western and southern wheat belt.
and barley
+ 1%! chanical equipment previously avail. “i {ale only for large farms.” *
Commission houses bought | mechanical cotton pickers.
“35! ducers of bituminous coal in Indi"'y, jana who ship their coal by railroad "3, |were announced by the office of y, price administration today. These | new ceilings will become effective
: changes—both decreases and in-|
in 1942. The decrease in earnings resulted from the nartow profit margin on war products, sales of which totaled $297,499,000, or about two-thirds of the company’s business, McCormick said, There was also a refund of $15,418,000 to the government as a result of voluntary price reductions on these products. Sales for last year rose to $448 035,000 from $364,526,000 in 1942, the report showed. New machines developed this } year included a tractor with a hydraulic control by which the driver, without stopping or getting off the machine, can cause the implement in tow to
The company has asked the gov-
| struction of a factory at Memphis, for the production of the If the
ed in time for operations to start in advance of the 1945 season, the report added.
The chief result of company Te-|
search,” McCormick disclosed, “will be to give the small one-family farm
{all advantages possible from me-
0m CHANGES GOAL
«| PRICES IN INDIANA!
Revised ceiling prices for pro-
a HOEST 38 FOR
: Bethlehem Steel
Jiwork than was actually done on
‘PADDING’ PAY!
Workers Got $1 Million Extra, FBI Charges.
BALTIMORE, Md, March 23 (U. P)—Thirty-eight employees of the Bethlehem Steel Co.'s Sparrows Point shipyard were held today on
charges of defrauding the government of more than $1,000,000 a year in an “extra work" racket. Of the total, 35—34 men and one woman—have been taken in custody and arrest of the other three was believed imminent. Director J. Edgar Hoover of the federal bureau of investigation said the racket was the most extensive uncovered since the war began, He said hundreds of workers were ine volved.
Tabulators Conspired
Hoover said those arrested were leaders in a conspiracy whereby production tabulators arranged with piecework welders to report more
ships built under maritime commission contracts.
“extra work” thus falsely reported, Hoover said, and the welders paid
penalty on conviction is 10 years’ imprisonment or $10,000 fine, or both. Hoover said many of the others involved may face federal prosecution later.
ment increasing capital stock to 30,
The welders received as high as $10 and $15 a day per man for the
the tabulators part of the “graft.” The accused are charged with presenting false claims to the government, for which the maximum
Spencer Co oy Farm Bureau Cooperative Credit Union, Chrisney, 0
STATE OIL OUTPUT
Oil produto in Indiana last month totaled 392,523 barrels, an increase of 1123 barrels a day than in January, P. Hastings Keller, head of the oil and gas section of the state division of geology, reported today. F : {
production of 13,523 barrels during February but that it was 977 barrels less than the daily average for the same month last year. m0 Arig Pebiecty. Keller said,
shares of $5.00 par value.
I ill}
In your
{ March 27. “For the state as a “whole the |
creases—average out. to an
ton. Where retail ceilings are de-
1, termined by formula, both the in-
creases and the decreases granted | producers will be passed on to the fconsumer., Most of the increases « granted, however, are on coal used | tor industrial purposes. The effect
1! of the changes on ceilings for do-
mestic size coals is so insignificant
» that it cannot be measured on a 1, district wide basis,” the OPA said.
Hosea) quotations furnished by (ndianugh | to in senate ap- apolis securities dealers.
ASents
Pin C com
op ents Bn & Lg ptd
WEST IS ASSURED yf independent offices appropriation Bat R Su vas a oid
Bobbs- Merrill 4% pfd
Hoosier livestock producers were, Ot amendments, proposed by, Citelp. Th Theater com
assured today by the Indiana agri-| cultural war board of an increase in the allotment of western feed wheat | in April to alleviate the feed short-| age. The war board announced that the April allotment would be 713.824 bushels compared with 412,738 this month. The board reported that 11,500,000 bushels were purchased during 1043 in Indiana. More than half of this amount went into mixed feed , part
of which wag shipped to other states, the report added.
LOCAL PRODUCE
poFlenvy breed nem, 2c: Leghorn hens.
Broilers, fryers and roosters, under § Ibs. 26e. JLeghotn springers, 23c. Old rooste rs, 16c. BET Cart receipts, 5¢ Ibs ‘and up.
Graded Eggs—Grade A large, 28¢c; grade A Sedinm, 27c; grade "A small, 34c; no
Butter—No. 1. 40c: No. 2. 6c’
[INVEST IN
§0c. Butterfat—No. 1.
ing his political overthrow.
McKellar, would subject the Ten-| nessee Valley Authority,
appropriations. At present TVA draws on its own receipts from ¢ power sales. i McKellar aired his feud with TVA| Chairman David Lilienthal on the floor of the senate yesterday. He began by telling the senate that| X Lilienthal has been “fighting me night and day for years.” McKellar has accused the TVA head of seek+
Senator Lister Hill (D. Ala) challenged McKellar to produce) v evidence his charges. McKellar failed to do so. He had one of his clerks bring him & big} scrapbook full of newspaper clippings but apparently found no examples. Hill charged that certain of the amendments, which would remove funds for completion of a fourth generating unit at the Watts Bar steam plant and block construction of transmission lines to the Fon-|n tana and Kentucky dams, would “leave TVA short of funds by at least $40,000,000 to carry out the program approved in the bill.”
' WAGON WHEAT
Up to the ele today, Indi
th Loan 5% pfd
Delta Eiee com
gigantic Hook Hook Oh power and community development, | “1nd . Mic
to the authority of congress by re-!Ind Asso Tel §% pe quiring it to come to congress for | ina "Gen gery 1 ot
*In
indpls
Lincoln Loan Co 5%% pfd ... Lincoln Nat Life dg va
N Ind
Pub
Ch ¢
Indpls Indpls Indbis
komo
Richmon Trac
Co com
& L ptd &
Pub Serv 8 8% Serv
N Ind Pub 7% Pub Serv of Ind 5% . Serv
of Ind com
ceavann
sransan
Pt Wayne 7% pid n h Elec 7% pid..
Tesennsnaes
Ind Pub Serv 540% pid...
BONDS
Co 4%s 61..
Clone ing a 4s 61 Consol Pin 5s 80
ind ng a Co 3%s 70 ilway Co 5s 67...
Water Co
Serv 3
snes
Water Works 5s 68.. Kubner Packing Co 4s 5¢ .... Morris-5 & 10 Stores 5s 80. . Muncie Water Works 5s 66 .
3...
Re Som A Cvreanane
Algers Wins'w W RR 4%%...100 American Loan 5s 51 American Loan 5s 46 Cent Newspapers’ 4's 43-51.
“No changes are made in Indiana bituminous coal ceilings for coal shipped from the mine by truck. Revision of the schedule of ceiling prices covering truck-shipped coal
is expected to be made in the near!
| future. | “As in the four previous schedule ‘revisions, OPA has simplified the {maximum pricing of coal for In-
astea| diana coal producers who ship by
_ United States Plywood: nl! Sita eed Joni Shed Jap. 3) he J [net profit $634,280 96
8id ‘er a? 3 .{rail. The new schedule, for in~ "3 a |stance, comprises only eight price po MN {groups with standard service OT ‘charges , for washing, ete, com- + 82 3 pared with 34 groups previously. i" Hw 13% Size group descriptions appear in " 17 |the schedule. A118 net) “Size group relationships have +188 198 |also been adjusted. Producers thus 108% will not be encouraged to change 198s: 0:7 screening practices in order to obwich 14% (tain higher prices. This means the 18 19%, consumer will continue to receive $3 37 [the size of coal he desires or needs, Lo. 20% Ma “Temporary adjustments in prices = hip granted in November 1043 to hand. "108% 109 (loading mines in Indiana will be at Hu void after May 31 where such pe 17% | temporary increases exceed the new . 108, | schedule prices. announced today,” 17% | OPA said. Hd 4; U. S. STATEMENT WASHINGTON, March 22 (U. P). — ooo | Government expenses and receipts for the ovo PPACIOET eurrent fiscal year through March 20 99 101 | cdmpared with a year ago: id 82 This Year Last Year 80 83 Expenses $66. 83. 186,561. $52,466,075,808 18 1% War 61,612,151,081. © 48,252,865,645 308 Receipts « 38 ,517,606 12,540,238,784 0 Net Deficit... ,120,657,214 39,922,349.074 Ml 18 i ,601,407,813 * 4,573,240,204 pt 108 ,928,699,484 3,810,625,225 +44 ".. Punic Debt. "198.930.083.507 119,814,620,945 5 100° | Gold Res... 21,600,154.637 685, es 50 INDIANAPOI IS CLEARING HOUSE vai} “| Clearings .. ..... Yahasaveununes $ 4,357,000 88 Bl I DebME .. .iiiieieniiieneiaes . red Debits ra 19,563,000 100 103 +105 . ver: 80 8 ... 09
in1p (crease of less than three cents 8
zest of spring
ool
engine!
UP. IN FEBRUARY
He said there was a daily average |~
GOLDMAN TO SPEAK
members will hear Martin E. Goldman, Philadlelphia, discuss “Advertising’s Place in the Post-war Period” at the luncheon meeting Thursday in the Indianapolis Ath-
letic club. The speaker is a partner in the Aitkin-Kynett -Advertis-
ing agency.
Here's what our expert “de-sludging” job will do for you:
1. Give you better gasoline economy.
2. Restore complete lubrication to all vital parts of your engine.
3. Eliminate corrosive and damaging chemical deposits = which contaminate your lubricating oil.
4. Increase oil economy and in many cases eliminate oil pumping.
5. Improve the smoothness of engine performance. 6. Prolong the life of your engine.
BUY MORE BONDS * * SPEED THE VICTORY
Indianapolis Advertising clubly
ormance with lower Enjoy ier! : ” consumption!
RAR
put the zip and