Indianapolis Times, Indianapolis, Marion County, 2 August 1944 — Page 7
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sized before a committee meeting
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“Geneva and the
for full employment in the west."
whe
4
-the U, 8. department ‘of labor ex-
Attacked as
Western Industry ~ ‘Challenge.’
SAN FRANCISCO, Aug. 2 (U. P.)—A statement by Benjamin Fairless, president of U. 8. Steel Corp, that his company has no plans for post-war operation of the $200,000,000 government-built Geneva, Utah, steel plant was under attack today by two western members of congress. Senator James E. Murray (D. Mont.), chairman of the senate small business committee, and Rep. Richard J. Welch (D. Cal.) empha-
that post-war operation. of the plant was “indispensable” to full post-war employment in the West and -to the Pacific coast's shipbuilding industry. Murray said he was _ “surprised and astounded” at Fairless’ statement to a press conference here Monday. Welch- challenged an assertion by Fairless that the plant is running at only one-third capacity. “This cold-blooded statement of the Pittsburgh steel master,” Welch said, “should be met as a challenge to the west. This ig our project
and not theirs. We should disregard |
anything they say. We should keep Fontana (Cal) plants operating. * : Geneva Termed Indispensable’
Murray said meetings of his committee “have brought out the fact that the full operation of both the SEBS LIER tony steel mills is indispensable to any sound plan
Congressional legislation of post. war disposition of government war plants, Murray said, “myst provide for the operation of these plants at full capacity. It must guarantee the people of the west that western steel properly priced will be available for the industrialization of the western states. Mervyn Rathbone, secretary of the California C. I. O. council, urged national legislation to effect full post-war employment including establishment of a national planning board made up of representatives of industry, labor and agriculture. The doctrine of states’ rights applied to post-war reconversion and employment, he said, would lead to a depression. Rathbone said maintenance of steel production at Geneva would “inevitably result” in development of. new metals industries at govern-ment-built west coast aircraft plants. He suggested that Henry J.- Kaiser's plans for converting shipyards into assembly plants for prefabricated housing could be extended to other industries,
Indiana Coal Prices to Go Up
"Coal dealers today prepared to raisk their prices on Indianaproduced bituminous coal shipped by trucks following a decision by the office of price adminjstration to allow a ceiling price increase of approximately three-cents per ton. The Indiana district OPA said that the ceiling revision would become effective Saturday, The office also announced the establishment of ceilings on railshipped wash coal.
WHIFFING IS NAMED
INDIANA CHAIRMAN
CHICAGO, Aug. 2 (U. P)— Wayne W, Whiffing of Indianapolis has been appointed Indiana state chairman of a campaign by which | wo
pects to reduce job accidents by 40 per cent the next year, Theodore E. Meisner, regional director of the national committee for the conservation of manpower in war industries, has been appointed | Midwest chairman of the campaign. “Success in attaining the goal of a million fewer accidents will mean saving the lives of 7500 American workers, preserving whole bodies for 44,000 more and sparking 948,500 the suffering and lost time for the temporary incapacity,” Meisner said. “The time saved will add up to some 2,000,000 hours a month during the 12-month period,” he said. . “During the first two years of the war, 36,500 workers were killed, 212,000 crippled and 4,500,000 incapacitated, causing a direct loss of 120,000,000 days of production.”
LOCAL PRODUCE
oeayy breed bena, 3c. Leghorn hepa
Broflers, nN and Joomen ander § ibs. 28c. rn springers, 36e. Old roosters, 14e. Bggs-—-Current receipts, 30c, Grade A large, 40c; grade A medium, 36¢; grade A small, 26c. No iy Butter— No. Hg Butterfat - No. 1 4dc; No. 2, 36c.
Petroleum Corp. of America 6 months ended June 30 net income $142,741 or 16 cents a share vs. $212,T72 or 11% cents year ago.
THOMSON & MSKINNON
" "SECURITIES » COMMODITIES
$5 East Market Street Phone: MArket 3501
.
11 Wall Sereet, New York Branches in 32 Cities
Write for our weekly Stock Survey |
Members New York Stock Exchange and other principal sxehanges
U.S, STEEL SAYS! NO GENEVA PLAN
was revealed here today that the Hoosier.Cardinal Corp., plastic division, has been fabricating parts for the B-29 superfértresses and now has an additional contract for other parts,
tics division has been forming gun= sight gomes, which were highly secret until the B-29 was used against the Japs. The new contract {§
Kashner Promoted
Karl C. Kashner has been made sales manager of the Kroger Grocery and Baking Co.’s Indianapolis branch, it was announced today. Mr, Kashner was formerly district manager of the company.
GORN PROGRESS
Rains Bring Considerable Recovery to a Few Areas.
Corn has recovered considerably |: where substantial rains fell, but is making poor progress otherwise, according to the Indianapolis weather bureau's weekly erop bulletin. The crops condition is mostly fair to good with.sweet corn poor to fair. Corn’ borers. have: CRIME. damage, it was reported,
most areas, blooming generally with some podding and filling, but many top blooms have been killed by hot sun. . Alfalfa improved somewhat, but: is ‘said to be yellow in many fields and generally short. Pastures vary from entirely gone to fair.
fitted somewhat from the rains, but need much more. Tomatoes are fair to good and ripening with further rains needed. Melons are being harvested; the yield and quality have been hurt by the drought. Threshing of oats and wheat and baling of hay and straw continued and plowing for fall seeding made some progress, with the weather mostly favorable.
SOUTH BEND FIRM
PHILADELPHIA, Aug. 2 (U.P). —Indiana and Michigan Electric Co., South Bend, Ind, has registered with the securities and exchange commission 120,000 shares of cumu-
to be offered for competitive bidding! as part of its refinancing program. The company also proposes to sell 120,024 shares of common stock of} no par value for $3,000,000 cash to American Gas and Electric Co., parent and owner of all present outstanding stock of Indiana and Michigan, A loan of $7,880,000, exclusive of: interest, from six New York City | 4 banks has been proposed by the company. The loan would be used. to purchase for cancellation 544 shares of old 7 per cent preferred! 4 and 35.473 shares of old 6 per cent! preferred stock of Indiana and Michigan from American Gas for $3.506,749.77. Remainder of the loan would be applied toward the redemption and cancellation of 38731 shares of Iniana and Michigan's old 7 per cent preferred and 245 shares of old 6 per cent preferred now in the hands | of the public. Redemption price would be $110 per share plus divi-
$4,287
EVANSVILLE PLANT MAKING B-29 PARTS
Times Special EVANSVILLE, Ind, Aug. 2—It
REPORTED ‘POOR’
Soy bean® were at a standstill in 1%
T0 SELL STOCK):
lative preferred $100 par value stock !
dends, samounting to a total cost of | M2
Nominal quotations furnished oy In. anapolis securities dealers Asked Agents Pin Corp com ........ 7% ..... Agents Pin Corp pfd . Beit R Stk Yds com 40 Belt BR Stk Yds pfd....eeese. 53 ..... Bobbs-Merrill com _.. Bobbs- pid . Circle Theater com ... 50 Comwith Loan §% pid 107 Deltas Ses son wre ewen 14 Hook De 18 Home Pt. Wayne a ptd 3 Ind & Mich Elec 7% RS §& 116% | Ind Asso eS 5% pid . . ave 1063 | Gen Lee [109% Indpls P & v rd ceva 3 115 Ind P&L c 17 18 Indians lis Ruiiviys com. 14 15% *Indpls Water pfd *Indpis Water hat A com . 17% Jeff Nat Lif . Lincoln Loan Co 5% ‘pra’ “an 98 Lincoln Nat Life Ins com,.. 41 P R Mallory 4':% . 30%, P R Mallory com ,. 4 J50 { N Ind Pub Serv 57% . 103% N Ind Pub Serv 5%%....... 103%; rede N Ind Pub Serv g% pid...... 106 on 2 N Ind Pub Serv 7%... «113 | Pub Serv Ind $< 108 Pub Serv of Ind com. 3% Progress Laundry com . 18 So Ind G & P 48% on Stokely Bros pr . 1 17 United Tel Co 8 Co Union Title com .... 28 BONDS Atgers Wins'w RR 4%% ......100 ..... American Loan 5s 81 ......... ” 100 American Loan yo 48 ........, . 99 101 Ch of Com 4%s 81... 85 88 Citizens Ind g hs ot e010 108 Consol Fin 5s 50 08 101 [nd Asso Tel Co 3%s 70 cresaes 108 ‘ss ng pls P & L 3%s 70 ........108% 108% [ndpls Railway Co 5s 67 ...... 18 81 Indpls Water Co 3%s 68 ....107% 109 omo Water hig 5s 38. .308 senee ner Pac 64 97 100 Muncie Water orks 5s 86... +108 « Sans I 103% 01 108% .100 103 Trac Term Corp 8s 57 ...... 89% 2% 8 Machine oP 8s 52 ..... 09 102
| PORKES PRICES
Stockyards; Top Stays At $14.80,
istration reported.
GOOD TO CHOICE HOGS (8500) °
120- 140 NAS ues sviannnn. 140~ 180 Pounds “re .
STEADY HERE |
8500 Hogs Received at
A steady hog market prevailed today at the Indianapolis stockyards with the top at $14.80 on 160. to 240-pounders, the war food adfiin-
Receipts included 8500 hogs, 1475 cattle, 750 calves and 1600 sheep.
| DELAY URGED ON FUND ACTION
Congress Asked to Shelve Bretton Woods Issues Until After Election.
WASHINGTON, Aug. 2 (U. P.)— i The powerful support of Chairman |Robert A. Taft of the seriate Republican steering committee was added today to a Demorcatic proposal to delay until after the election any congressional action on the Bretton Woods international monetary agreeemnt. Sen. Robert F. Wagner (D.N.Y.), chairman of the senate banking | committee and a delegate to the recent Bretton Woods, N. H., monetary conference, is urging his colleagues to shelve the agreement during the | campaign months because it is “too | important to the world to become a | political football.” |, Taft, who declared two weeks ago {that “many members” of congress would find the agreement unacceptable, nevertheless agreed with Wagner that it would be wise to divorce the controversial issue from politics. The Ohio’ senator said, however,
SRAPRIC BY PiCK-5. 9. vad | that he intends to issue a statement
276- 300 pounds 330 pounds ...... . 330- 360 poun Medium— 160- 220 pounds .....c.vuv.s0 [email protected] Packing Sows Good to Cholce— 270~ 300 pounds .....o.iiusns [email protected] 300- 300 pounds ,.......seess [email protected] 330- 360 pounds ......... cues [email protected] 360- 400 pounds ....cesuv0e0s [email protected] 400- 450 pounds ........00... [email protected] 450- 550 pounds ..... senseane . [email protected] Medium— ’ 250- 550 pounds ............ . 11.50612.75 Slaughter Pigs Medium and Good— “ 90- 120 pounds ...... . 10.50913.00 CATTLE (1475) ’ | R 5 . ’ P aees svn no Pontoons 700- 900 pounds . ha 907-1100 pounds . 1100-1300 pounds . Lie hE 1300-1500 pounds ...eeseovesss 17.50 700- 900 pounds 3 [email protected] : 900-1100 pounds . [email protected]
| 500- 900 pounds .............
Sn : 11881100 ference on North Atlantic routes Cutter and’ commo 6.00@ 9.25 from the U. S. to major cities of Cenner .........ccccimveens.. 5.00@ 6.00
Garden truck and potatoes bene- | 8 Sood (all weights) ......... [email protected]
(at “w The conference, conducted by Sausage CAB Examiner Thomas Wrenn, atGood .. [email protected] tracted representatives of airline Cre ana common 111 £33819. applicants. ‘It is CAB's opening CALVES (150) step to insure that American airVealers (al Wella lines will fly the following routes Good to choice . [email protected] | across North Atlantic waters: Conk to medium. . [email protected] 1. New York-Cairo, via Newuils 5.50@ 8.00 Feeder and Stocker Cattle and Calves foundland or Labrador, Eire, LonChotoe— don, Berlin, Prague, Vienna and 500- 800 pounds ............. [email protected]| Istanbul. a0 1050 pounds ..cecenee sees 11.75913.00 2. New York-Calcutta, India, 500- 800 pofinds «eee [email protected]] via Newfoundland or Labrador, 200-1000 pounds ssesssveces WIBQILB| pire Paris, Switzerland, Rome, 300-1000 pounds .....eieeeee. 8.75010.00{ Athens, Cairo, Basra, Iraq and 1 TY . 800- 900 pounds .......... ... 150@ s.15! Karachi, India. oh ves (sieeve) 2 3. New York-Basra, via NewSood und Cond | foundiand or Labrador, GreenAOWD .riirnines . [email protected] eatume U3QUS nd. Iceland, Oslo, Stockholm, 500 pounds down ............ 0.00011.2 Helsinki, Leningrad, Moscow and Good and Choice— Tehran. oo hounds down ........... W@W 4 New York-Lisbon, via Ber$00 pounds down ........... 8.50@1050] muda, Azores, branching from SHEEP AND LAMBS (1600) Lisbon to Rome, via Madrid and Bwes (shorms Marseille, France; to Cairo, via Good to choice ....,......... 3.50@ 4.50 Po ’ : Common diam rune 1503 3.50| Algiers, Tunis and Tripoli; and tolea srzine LAMBS 295g to London. | Medium to good ........... 933g1335| Pan-American. Airways, , Ameri-| Common ee T00@ 935 can Export Airlines, Braniff Airways, Northeast Airlines, TWA, and N. Y. S ks Pennsylvania -Central Airlines,’ toc which proposes to use anchored seadromes for bases, have applica-| } High Low Last Chsage| tions for new service in the general AR G5 oi fhe Ha wares and were scheduled to appear m Ra " “ie e conference, » | an Tor soa 0h 1852 oe Other - applicants, not vet certi- + : irl i [Am Water wll ah au 4x Ion fied as airlines, also were to rep- | Anaconda I 26 36's 26% .... |resented. Armour & Co. Gly 6 Bley <4 la Atchison 68! —_— Al Refining “+ | Bald Loco ct .. + lg { dr Ty STUDEBAKER SHOWS | Caterpil ilar T .. -
Ehes & Ohio
ins-Wr ph glas Air ,. Du Pont . Gen Electric . Goodrich |. Goodyear Lo Greyhnd cp A. Int Harvester... ¢ - Johns-Man 9 + Kennecott oe “as Kroger G&B .. 3 .e O-F Glass ,, 51'a 51'z 51 «+ Lock Aur wears 17% 17% 17% + | Loew 63la 65 65 — rtin Glenn) 18'2 18% 18% ... Nash-K Loe. 18% 15% 15%, 4 Nat Biscuit co. 22% 22% 22% 4 Nat Distillers . 14% 34'a 3% .... Y Central 20% 20% 20% .... Oliver FP B 55 55 + 1 Packard 5'%p 5% 5% .... Pan Am Air ... 33%, 33%, 333% 4 Penney ........104%2 103% 1043 + Penn RR . 20% 29% 29% ... Phelps Dodge 22 2M 22% + Procter & G 55% 553% 55% + Pullman Loe. 4812 48% 48% + Pure Oi! ...... 16's 16 18 -— Repub Stl 18% 183 19% ... Reyn Tob B 32% 32% 32% Servel Inc 21 21 21 rs 8oc-Vacuum 1372 13% 134% .... South Pac 30% 30% 30% Std Brands 30's 30's 304% + Std O Cal C3 3 HR + Std Oil (Ind).. 33 31% 33 + Std Oil (N J). 55% 55% 55% ... {20th C-Fox ... 25 24% 25 “+ {u S Rubber ... 52'2 52% 52% |U 8 Stee! ..... 598'; 59 58% + Warner Bros ,. 131% 13% 13% Westing KE ...102% 102%. 102% 4. 1 York Corp . 14% 141 oo 1%. 143%
B i DRIVE ON AUTO USE
use tax stamps on July 1.
and upon conviction are liable t
not more than 30 days, or both.
WAGON WHEAT
No. 3 yellow shelled ‘co;
INDIANAPOLIS CLEARING HOUSE Clearings Debits
$352,802 or $1.29 a share vs. $300,
year ago.
For the last two years the plas-
calls for gun enclosures but further Tohalls Were Ln fi
STAMPS CONDUCTED
The "state collector of internal irevenue today advised motor vehicle {owners that an intensive drive is * being conducted against owners who [failed to purchase and display auto
All motors driven on public highways are subject to the tax and violators are guilty of misdemeanor
a fine of $25 or imprisonment for
Up to the close of the Chicago market today, Indisnapalis flour mills and grain Sea Jud $1.44 per bushel for No. 1 red wheat (other grades on their merits), No. 7 DE oats, 79¢c, and No. 3 red oats, T9¢. corn, $1.06 per bushel and No. 2 white shelled corn, $1.24. ————————————
Bri vii rita $ 5,416,000 18,135,000 rn —— at American Machine & Metals, Inc. '{6 months ended June 30, net profit,
583 or $1.07 year ago; quarter ended {June 30, net profit, $235438 or 86 cents a share vs. 313056 er 65 cents
1100-1300 pounds . [email protected]. 1300-1600 pounds ... [ 16.78 1700-1100 pounds eee. [email protected] : 3 : toe 1500 pownas 11111111111] 1ogisae Airlines wil A aly 2 . - for OMMOn — , 700-1100 POURAS .........ee0. [email protected] ira thet North Atlantic: Co00- 900. pounds ine 18TSOMS0] fr en LZ £ 300.1100 pounds. | ig [email protected]| - Roirtes. Fors rl 800 pounds . cersracsnses [email protected]} WASHINGTON, Aug. 2 (VU. P).— . 300.1000 Pounds sesssesnsesas 143801800 The ’ ime derw of Je 308, pounds ..ceceesesvses [email protected] applications for international air
aeronautics board pre-hearing con-
| Europe, Asia and North Africa.
: PROFIT OF $914,225
SOUTH BEND, Ind, Aug. 2 (U.! !P.).—The Studebaker Corp. today: reported June quarter consolidated
1,18 common share compared with |
Mw $732,585 or 33 cents a share a year|
it | earlier. Sales against $87,129,256 a year before.
%! In the first half of 1044 consoli-| %|dated net income totaled $1,732!
Net sales
637,279.
| Provision for federal income and
ls} excess profits taxes, after deducting
‘i, /a credit of $629,000 for post-war
refund of excess profits taxes, was
gn ww»
#
GRAIN PRICES MIXED ON CHICAGO MARKET
CHICAGO, Aug. 2 (U. P.).—Wheat futures displayed-an easier tone and other grains held firm on the Board of Trade today.
to off % cent a bushel;
of YP 4: | National Steel Corp. and sul sidiaries June quarter net income! $2,683,315 or $1.30 a share vs, $2.538,015 year ago; 8 months ended | June 31 net income $5,413,458 vs. $5,218,865 year ago.
AT INDIANAPOLIS
on Everything!
- Diamonds, Watches Musical Instruments. Cameras ! Slothing, Shotguns, Ete. ~ A JEWELRY
- supplied the hundreds of tons of
early inthe allied invasion of
service began yesterday at a civil
net profit of $914,225 or 39 cents
aggregated” $106,683,472 |
%!T13 or 74 cents a common share! i, against $1,672009 or 75 cents a ‘sishare on a smaller amount out-! 'y (standing a year earlier. totaled $215,185,764 against $160
186,181,000 in the first half of 1944.
At 11 a. m: wheat was unchanged | oats up | to 4, rye up % to %, and barley
NATIONAL BANK |
within the week to list his specific objections to the monetary accord. Pact Termed Involved If Wagner's plan prevails, the agreement may not be considered until the new eongresy convenes in January. Taft said the pact was “extremely involved” and would require extensive hearings and considerable debate. He declined to reveal in advance bis S Spevile objection to ‘the agree- » But it. was understood from R—~ sources that he is against a
Aided Allies
DETROIT, Aug. 2 (U. P)— The U. 8S. navy's bomb-touch and shell-touch pontoons greatly facilitated landing operations and
vital equipment on the * beaches
the Normandy peninsula, C. Russell Feldman, president of the International Detrola Corp. disclosed today. In a report to stockholders, made in conjunction with the payment of the regular quarterly dividend, Feldman said that de-
flate their currencies at least 20 per cent without regard to the wishes of the board of governors of the international stabilization fund. Another section believed to have aroused . Taft's opposition would deny a nation the right to take its|,
pendable, powerful propulsion | iermal economic situation into acunits were needed to power these |count in devaluing its currency.
freight carriers, nicknamed “rhino | emcee ee este erence ferries” by the seabees who man | EXPECT BIG SALMON CATCH
these craft. WASHINGTON, Aug. 2 (U.P) .— The answer was found in [Fisheries Co-Ordinator Harold L. “rhino’s feet,” the 3! ton out- |ckes said today initial reports in-
'Double Country's Airports
pvastly improved airports, almost all of which will be used after the war
of fields within five or ten years
section which permits nations to de- jure.
Or Impede Aviation'—C}
By Science Service
WASHINGTON, Aug. 2.—The civil aeronautics administration soon complete and present to congress a report on studies it has for post-war airports, showing that civil aviation Will be seriously peded unless double the number of present fields are constructed ‘within five years after the war, it was announced here today by William A : Burden, assistant secretary of commerce, :
“The airport,” he stated, “is the) basis of all aviation development, LOW FURNITURE : -
just as the highway is the basis of Labor Shortage Foreseen
all automotive development.” As a result of a three-year proAs Obstacle to Production.
gram of the CAA, costing $400,000,~ 000, the U. 8. now has 600 new or that the CAA‘ will show congresss NEW YORK, Aug. 3 (U. P)~ that we will need double the number | Lack of manpower in the furniture |industry has superseded every other after the war, plus improvement of| factor as an obstacle to continued
1625 of the existing flelds. production, Seidman & Seidman, Plan Termed ‘Defense Measure’ |accountants to the trade, announced
today. Out of ‘the total n her Of new In practically every furniture area fields proposed, 2900 will be small
there is evidence that the mane airports to be used for personal fly-| power shortage has reached an acute ing and local air service, At present and serious stage, the accounting there are only 286 places in the U.| {firm declared. And added that une 8. where the planes of scheduled air | [SS the situation ‘is relieved soon, lines can stop. The CAA will recom- | the output of furniture is likely to mend to congress that 174 of these| {all below present levels. be improved for safe and efficient | _ June shipments totaled 2 per cent air transport service. more than for May and reached the Mr. Burden pointed out that of highest dollar aggregate of any the 720 new points in the U. S. for month this year, except April. June which air lines have made applica- |ShiPments were down 7 per cent tion to the CAA to serve, 612 re-|compared with June last yegr, how= quire airport~construction. Sched-|€Ver. For the half year ended June uled air line service will not, he 0. Tipu vas “5 5 Der cent less than added, be made available to all of e same 1043 these points in_the immediate fu-{. New OFlearis dectines a from May and 18 per RS from “The CAA plan will be worked out | June of last year." Bookings for the state by state. Massachusetts, for | first six months of this year totaled example, now has 54 airports. Under 9 per cent under the corresponding the CAA plan it would secure 36 Period last year. new airports, at a cost of about $30,-| Compared with June a year ago, 000,000, - Half of these new airports employees on the rolls declined 13 ould be of small size, suitable for |Per cent. Employment during the personal flying. Minnesota would, first six months of 1944 was 16 per have 159 flying fields, as compared | Cent under the first half of last year, with 45 today. Since this territory LL is ideal for flying vacationists, Mr.| SOUTH BEND FIRM GETS FE’ Burden pointed out, 114 of the new Times Special fields would be of small size, SOUTH BEND, Ind, Aug. 2.—
for civil aviation. This brings to 3086 the total number of airports in| the country. Since the growth of private flying and air transport is dependent upon the development of an adequate airport system, Mr, Burden declared
board motors which have the “grotesque but handy ability to turn propellers skyward at the pull of a lever for any emergency servicing.”
dicated that the season's salmon fishing catch in the Alaskan Bristol Bay region, world’s chief salmon production center, would exceed 1,000,000 cases.
—Sounds a bit odd to talk
about producing heat during August when you and I have more heat than we can use with comfort . . ..
—HOWEVER, we believe
this to be the opportune time to prepare for winter and be sure to have all the heat we'll need during the cold wintry days to come!
To your right we illustrate
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19%
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“Victoria” HEATER
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Start a fire but once a yooiaHeais day and night witha out refueling! Built to give real service over a wide area, We believe it to be the best on the market at the: price, Requires less attention than most furnaces.
Bs Lo i Pay as Little as
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a :
Ie
{ The Electro-Voice Manufacturing Standard Brands, Inc, 6 months! Co. of South Bend has been awarde ended June 30 sales $112,672,307 vs. led the army-navy “E” for produce $83,706,733 year ago; net profit tion achievement in several types $4,154,603 or $11.7 a share vs. $4,716,- |of microphones which are being 669 or $1.35 year ago. used by the armed forces.