Indianapolis Times, Indianapolis, Marion County, 13 April 1945 — Page 15
© FRIDAY, APRIL 1, 1065
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Business
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S.
Nation's Security and Commodity Exchanges to Be Closed Tomorrow By ROGER BUDROW
THE NATION'S SECURITY AND COMMODITY ex- " changes will be closed tomorrow, in respeet to President
Roosevelt.
Some exchanges closed today, but the big, important New York Stock exchange remained open, believing
that there was no reason for panic or impulsive dealings and therefore no reason to close. Trading was calm on the “Big Board,” however, and brokers restrained their usual boisterous conduct, There was a two-minute interval for pray-
er at the opening
of the exchange, and similar rites elsewhere. The securitiés and exchange com- . mission met but took no action to close the country's 19. stock exchanges. The 11-year-old SEC has never ordered an exchange closed.
iV AB Rpapast,. DOREY AE ANSE DFR hh
closed on: the deaths of presidents |
po
i Tor their funera oy Ames
’ InALondon, two minutes of silence were marked by sounding of the famous bell in Lloyd's of London. ; o ” ” - PILOTS of the jet-propelled P-80 Shooting Star may not wear heavy clothes and oxygen masks, reports Aviation News.” The engine feeds warm air to the pressurized cabin of the plane, in addition to furnishing the motive power. This, and lack of vibration, keep pilot fatigue at a niinimum. » » n The first rubber plantation recaptured from the Japs, 356,000 trees on the island of Basilan off western Mindanao, is in good condition. Apparently the trees hadn't been tapped during the three-years occupation. Plantation is owned by American Rubber Co. of San Francisco. It supplied the Philippine Islands, The big plantations, however, are in Sumatra and Malaya. What has happened to them isnt known. . 5 »
Returned servicemen sometimes,
will get a setback in salaries when | they go back to civilian jobs, re- | ports Business Week. “This will "apply particularly to
the thousands of younger men who |
have risen to commissions or high noncommissioned ranks. First signs of trouble ahead already are being seen in WMC offices. Recently an army air Torve lieutenant colonel, 26 years old, was discharged and went to see about getting his old job back. Before. the war, he had been receiving $35 on the staff of a newspaper. Just olit of college, he had considered that good pay. “The old job was waiting for him, and the boss upped the pay to $45, but the former officer was bitterly disappointed. He had been drawing $7200 a year, and the drop to the offered $2340 a year looked pretty steep. “WMC has found the same situation Rrith noncommifssioned officers. An example: A discharged staff sergeant, who, before ,ihe war had. earned $10°a week after high school, now is disillusioned and bitter be.cause he cannot find a job with comparable pay to his army pay of $163 a month, plus clothes and maintenance adding another $125.” o n ” ODDS AND ENDS: National CoOperatives, Inc., plans to make cigarets, appliances and cosmetics after the war, reports Tide. . . OWI denies it has V-E day speeches already “on ice” awaiting Eisenhower proclamation. . . . Federal employees aren't traveling so much since April 1 when travel allowances were: put on per diem basjs instead of mileage basis, . . . Public transportation got so bad in Washington that the army leased buslines some busses to get Pentagon employees to work.
N. Y. LIFE 100 YEARS OLD NEW YORK, April 13 (U. P)— Business as usual marked the 100th anniversary of New York Life Insurance Co, yesterday.
N. Y. Stocks
Net Low Last Change 44% 45 a
Allis-Chal ... Am Can . Ye W% Va Ya
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Og Nea e
Esa
[+ +++ +++++ ++ +44 #
Curtiss-Wr Doug Aire Du Pont . Gen Elec Gen. Foods Gen oMtors Goodrich .
-—— =e
Johns-Man Kennecott
y Martin (G1) Mont Roy ash-Kelv .. Nat Biscul N Di
+++ FE HEHE
Reyn Tob B .. - Bchenley Dist . ervel Inc docony-Vacuum South Pace .... td Brands ... 3
SHEL
pel]
amendment
by Corporation Act of 1929; a
2 Miles,
CITY RAILWAYS PAYS U. S. DEBT
HOPES VARY ON
BIG BANK PLAN
English, . Russian Views Differ About World Bank.
By JOHN W. LOVE Soripps-Howard Staff Writer
WASHINGTON, April 13—Part of America’s argument over, the Bretton Woods international financial program stems from the fact that countries have differing views
over what the big money plan is going to do for them.
$1,775,000 Borrowed in| '30s for Equipment Retired.
Utilizing money - set aside to buy equipment, Indianapolis Railways has-paid off the $1,775,000. borrowed from the government ‘during the depression to modernize the local] transit system. - The action, President Harry Reid reported to stockholders today, will save $63,000 a year interest and leaves $250,228 to be paid off. The annual report showed net income increased $12,380 during 1944 to $227,618. Gross revenue hit new high h of $7, 666,413 while op-
The Russians and British, for ex|ample, appear to look for different things from Bretton Woods from what we do.
Because of the differences be-
tween the Soviet Union's economy and that of other nations, the Russians will have less need for the international monetary fund as a source of emergency cash for use in trade. Moreover there the gov= ernment tends to keep the country’s imports and exports in balance, As a gold producer on a large scale, Russia can use bullion in. settling adverse trade accounts. The Russians apparently intend to use the fund, not. for currency sta-
erating” e erises of “$%922710 ex
ene
on a Tete iy) I sources in 1038.
“Presents Problem” “This condition,” said Mr. Reid, “presents a post-war problem that must be met either by reductions] in wage and materials costs, or a fare increase, or both.” During the year 120,003,489 passengers were carried in the utility's streetcars, busses and trackless trolleys, 9.21 per cent more than in 1943. The Traction Terminal station, leased and operated by Indianapolis Railways, handled 7,354,320 passengers, an increase of 91,116. The firm's vehicles were operated *16,780,697 miles, using 1,367,108 gallons of gasoline and 46,825000 kilowatt hours of electric power. The payroll increased $95,110 to | $3.164,774, amounting to 41.28 per cent of the gross revenue. A retro[active wage. increase, extended vaca- | cations, a bonus plan- and other | behefits added $400,000 a year. - An | employee pension plan will cost.the | company $41,000 more. Three 50-cent dividends paid on the common. stock amounted to $6701. °°
Perry Regional AAF Inspector
H. H. Perry, army air forces inspector at the Curtiss-Wright propelier plant here, has been transerred to inspector for this region which includes parts of Indiana, Illinois and Kentucky. He succeeds Walter N. Bucher who had been ‘assigned to the Mills Novelty Co., Chicago. : Mr. Perry is succeeded at Cur-tiss-Wright by Jacoh H. Fentz, who was assistant inspector. Harold E. Wilson succeeds Mr, Fentz,
OFFICERS NAMED BY MOTOR EXPRESS
.~ Motor Express, Inc. of Indiana today announced that O. E. Pfeiffer has been named treasurer; E. W. Shreve, vice president in charge of operations, and G. C. “Cassell, vice president in charge of sales and traffic with headquarters in Chicago. General officials will remain at 731-34 Occidental building, D. M. Kernahan is president.
FOREMEN VOTE TUESDAY DETROIT, April 13 (U. P).—
‘|The regional labor relations board
announced today that 1100 Packard Motor Car Co. foremen would vote Tuesday, April 17, on whether they want td - be ‘represented by the Foremen's Association of America, an independent union, INCORPORATIONS
NEW FIRMS AND PARTNERSHIPS
East Bide Grille, 4814 E. Michigan st. Restaurant. Darletta Blank, 1005 8. Meridian st.; Irene Edwards, 1005 8. Meridian st.
Morgan Letter Service, 14 N. East st. Printing. Leslie Virgil Morgan and Lela E. Morgan, 1436 N. Hamilton, Ackerman Insurance Agency, 37368 N. Meridian st. Insurance. Simon Ackerman and Jeanne 8S. Ackerman, 3738 Meridian st.
INCORPORATIONS
American Security Corp. of Columbus, Ind, 421 Washington st.; agent, Morris A. Hogue, same address; 100 Sl without par value; Joseph y. Hilger, Fred H. Fehring, Mor ‘ris Ernest D. Snider, Alva M. Albert Ww,
Phillips. Inc, Indianapolis;
Ace Motors, Iytion. “South Bend Pie Co., Inc, South Bend; dissolution. The ‘Crummer Co. tion; withdrawal. anon: dissolution.
Hogue, Rirkpacrick,
dissoDelaware corpora-
Lafayette dissolution. Peru Cemetery Co. Inc, 11 W. 5th st. Peru; agent, Charles B. Soames, same address; 100 share of $100 par value; Charles B. Soames, Chas. Soames, Lena D Elizabeth Lee Soameé
Associates, Inc, Lafayette;
Soames, Ss. Hoover Laboratories, Alexandria; increasing capital stock to 5000 shares without par value, International Machine Tool Corp.
Inc,
In.
A dianapolis; Change of agent to John Han-
cock, 1100 Beardsley ave, Elkhart, and change v address of principal office to Elkhart, Ind. North Side Realty Co., Indianapolis; articles accepting provisions of General 1500 shares of
357 E. Wash-
100 par value. Kirkwood Realty Corp, ington st., Indianapolis; agent, J. BE. same address; 100 shares without par value; J. E. Miles, Ellen L. Miles,
o| Henry A. Strange, Florence Rickenbaugh.
Highland Liquors, Inc., 1262 Lafayette st., Terre Haute; agent, Willlam H. Adams, R. R. 2, Box 232, Terre Haute; 2500
4 | shares of $100 Ws value; Uriah R. Smith,
William H. Adams, Lester Pennington. John E. Wooley & Son, solution. :
Evansville; dis-
N. {Central Soya ca
Lebanon Businessmen's Realty Co., Leb-|p
bilization so much as for long- mh
414400" Hogs
ion BER en gam Hang Thus,” Russia will proba haust its quota in the fund in the first few years for capital goods purchases, according to Edwérd E. | Brown. of Chicago, the banker on {the American Bretton Woods delegation last summer. Such a purpose is outside those of the fund, and if Russia follows that line, other couhtries may expect the same privilege. This possibility is undoubtedly what the research committee of the committee for economic development had in mind when it said the fund is likely to become frozen. British opinion seems no more united than American over the program, but in Britain the argument is chiefly over whether the plan is really a return, part or all the way, to the unpopular ‘gold standard, whether, that is, it permits two-way trade and exchange arrangements between Britain and other countries. The British position undoubtedly will be difficult for some years after the war, because of their sales of some of the investments Which used to return them a substantial part of their living, in the shape of imports, and because of the presence in London banks of some billions of sterling balances which other countries have built up during the war. These balances must be ‘worked off in exports of - goods or in services. This British problem of “blocked sterling” will have to be met by arrangements mainly outside the Bretton Woods program. T
ARGENTINE WARNED “TO GUT MEAT PRICE
BUENOS AIRES, April 13 (U. P.). —Argentina ‘has been politely but firmly warned that she might lose her big British market for meat unless the present policy of f.“higher prices for less meat” is abandoned. The warning was delivered by Baron George L. J. Luke, chairman of Bovril's Ltd, and chairman of the nutrition committée of the British ministry of health, speaking yesterday before the British Chamber of Commerce here. Lord Luke reminded Argentina that it has always. had Great Britain as its “number one” market, in war as well as in peace, “and I am convinced Argentina will never wish to lose that market.” He expressed hope, however, that both countries will come to a mutually beneficial understanding over meat prices and admitted that reduetion -of available livestock=due to heavy slaughter during the first war years and a recent drought— was partly to blame for a decrease in meat exports.
LOCAL ISSUES
Nominal quotations furnished by Indi. anapolis securities dealers: STOCKS Agents Fin Corp com Agents Fin Corp pfd Ayrshire Col com ..., Belt R 8tk Yds com . Belt R Stk Yds pfd Bobbs-Merril! com .. Bobbs-Merrill 42s pi cam ve
Bid Asked
20 1734 04%
a Circle Theater co car Comwlth Loan 5% ptd Deita Elec com
5% Pt Wayne & Jackson RR pfd. ob Hook Drug Co com Home T&T Ft Wayne 1% ‘pd. 31 *Ind Asso Tel 5% pf Ind & Mich Z Law ri Indpls P & L pfd Indpls P &'L com ,.. Indpls Raflways .com . Indpls Water pfd 10 Indpls Water Class ‘A com ... Jeff Nat Life com Kingan & Co pfd Kingan & Co com *Lincoln Loan Co 5% % pfd.. Lineoln | Nat Life com P R Mallory pfd R Mallory com ....... N Ind Pub Serv 5% Pub Serv Ind § Pub Serv of Ind%om .. Progress Laundry com Ross Gea & Tool com
“180 Ind G&E 4.8%
Stokely-Van Cam FPL sees U.8 Machine com pay United Tel Co 5% Union Title com
American Loan Bs 51 American Loan 5s 46 Buhner Fertilizer 5s 54 . Ch of Com Bld 4 Citizens Ind Tel 4 Columbia Club 2¢5s Consol Fin 5s 56
Indpls P&L -3'%s “ Indpls Railways co D 67. Indpls Water Co 3'2s 68 . Kuhner Packing Co 4s 54 N Ind Pub Serv 3's 73 N Ing Tel 4%s 55 Pub Serv of Jud 34s Bn Pub Tel 4'3 : Trac Term Sonn 8s 67. H J Williamson Inc 5s §8 *Ex-dividend.
.| & Black, Chicago, and a director of} the National Association of Cost rose to a further new all-time high |Z
:':| Indianapolis chapter of the associa~-
-:+| Paint & Color Co. will speak on
...| Tuesday, April 17, at the Warren *{ hotel
..| LADIES’ | HOUSE
broken, shattered ships, (U.S
Re
The Indianapolis stockyards will be open tomorrow as usual. ” 8 8 Hogs received at the Indianapolis stockyards today totaled 4800, the | war food administration said. The top price for hogs remained | at the government ceiling of | $14.80. Also received were 350 cattle, 375 calves and 125 sheep. The market was active and steady,
GOOD TO CHOICE HOGS (1800) 120- 140 pounds ."w. $14.00@ 14.50 140- 160 pounds .. 14.50 14.80 160- 180 pounds .. 14.50 180- 200 pounds .. 200- 220. pounds .. 220~ 240 pounds 240- 270 pounds 270- 300 pounds 300- 330 pounds 330. 360 pounds Medium-— 160 200 pounds Packing Sows Good to Choice— 270- 300 pounds 300- 330 pounds 330- 360 pounds 360- 400 pounds Good— ..400- 450 pounds 450- 350 pounds Mediu 250~ "500 pounds
Slaughter Pigs Medium to Choice 90+ 180 pounds ....... CATTLE (350) Steers
13.25@ 14.60
14:05 «+ 14.056 «. 1405 . 14.05
14.003 14.05 14.00@ 14.05
Choice— 700- 900 900-1100 1100-1300 1300-1500 Good— 700- 900 900-1100 1100-1300 1300-1500 Medium — 700-1100 pounds 1100-1300 pounds Common— 700-1100 pounds
Heifers Choice 600- 800 pounds 800-1000 pounds
pounds pounds pounds pounds
[email protected] [email protected] [email protected] 15.00@ 16.25
13 $0014.75] [email protected]
[email protected] [email protected]
Meetings
zs Bracutives
Salesmen’s compensation will be the subject of the dinner meeting of the Indianapolis Sales Executives council ‘at 6 o'clock Monday, April 16, at the Indianapolis Athletic club. Five minute talks will be| given by the following sales man- | agers: W. T. Daily Sr., Multigraph | Sales agency; W. Oliver Cass, Mutual Benefit Life Insurance Co.; Kenneth Fisk, Holcomb & Hoke Manufacturing Co.; C. C. Guffey; Encyclopedia Britannica; L. W. Hully, International Harvester Co.; James L. Rogers, Pitman-Moore| Co. A round-table discussion will follow, conducted by A. C. Crandall, of the Indianapolis Power & Light Co.
Cost Accountants
“The Importance of Costs to Management” will be discussed by N. L. McCully, controller of Bauer
Accotintléints, at the meeting of the |
tion at the Lincoln hotel, Wednesday evening, April 18.
Chemical Society
J. Gansman, of the Indianapolis
“Paints” at the luncheon meeting of the American Chemical society
scEved Here: Til Top Price Remains $14.80
| 500- 800 pounds ....
Medium —
{Common and medium.
— proceedings against registration of “| securities
Oldest Loan . » Biokels n State
146 E. WASH
LOANS ===
The CHICAGO
Sp
"THE INDIANAPOLIS TIMES _— Naha, Okinawa Capital City “ins That Was
Once a city of 65,000 people, Naha, capital of Okinawa, is in almost complete ruins from repeated American aerial bombings. Only the shells of houses remain, with the harbor background filled with S. Nav
NRT
vy P Fhote) i
re
Good — 600- 800° pounds 800-1000 pounds Medium —
+. [email protected] . [email protected] 13.00@ 14.75 Common— . 500- 900 pounds [email protected] Cows (all weights) [email protected] . [email protected] [email protected] 7.000 8.25
Noam ‘a Cutter and common Canner Bulls (all weights) Beef— Good - (all weights) Sausage— Good
[email protected] 10.75@ 12.00 [email protected]
Medium \ Cutter and, common
‘CALVES (375) Vealeis (all Weighis) Good and. choice — . Common and medium 10.00@ 16.50 Cull , 5.50@ 9.50 Feeder and Stocker Cattle and Calves : Steers
Choice— 500- 800 pounds 800-1000 pouyds Good— 500- 800 pounds 300.1000 pounds Mediu 500- 1000 pounds Common-— 500- 900 pounds Calves (Steers) Good and choice-— 500 pounds down ............
[email protected] 11.75@ 13.00
[email protected] cranes evsnase [email protected]
[email protected] 1.50@ 8.75
| 500 pounds down . [email protected]! Calves (Heifers) Good and choice— 500 pounds down Medium— 500 pounds
. down [email protected] SHEEP (125) r Ewes {Shorn) Good and choice .
B@ 9.00 | 6 00@ ~ id = LAMBS
Good and _choice Medium ane good
16.00@ «. [email protected] | . 11.50@ 13.50 |
SEC CALLS HEARING ON CAMERA STOCK
PHILADELPHIA, April 13 (U. P.). —The securities and exchange commission has instituted stock-order
16.50!
by. Universal Camera Corp. and called a hearing April 25 to determine whether or not ‘the’ registration statement Is true and complete. “The commission has reasonable cause to believe,” the order said, “that the registration statement includes untrue statements of material facts and omits to state maerial facts necessary not to make the statement misleading.”
PLANE MOTOR STUDY OFFERED BY PURDUE
Times Special LAFAYETTE, Ind, April: 13.— Allison division of General Motors will - co-operate :- with Purduie university in offering two four-week | courses in airplane engines the university announced today. The courses will begin July 2 ana |= Jul 30. They are intended to train | high school shop and areonautic| instructors in airplane motors. —————————————————————————— CRUDE OIL HITS NEW HIGH NEW YORK, April 13 (U. P)—= Crude oil production in the U. 8.|
of 4783865 barrels in the week|= ended April 7. the American Pe-| troleum Institute report said to-! day. >
WAGON WHEAT
Up to the close of the Chicago market = today, Indianapolis flour mills and grain |e elevators paid $1.67 per bushel for No. 1m
red wheat (other grades on their merits); oats, No. 2 white or No. 2 red, testing qE Ibs. or better, 69c: corn, No. 2 yellow shelled, old crop, $1.09% per bushel and | No. 2 white shelled, old crop. $1.24%.
On Everything Diamonds, Watches
Musical Instruments, Cameras JEWELRY
Co, Inc. INGTON ST.
SLIPPERS $129
KINNEY'S
138 E. WASHINGTON ST.
Farms, Residences (including Business
* MORTGAGE LOANS *
Rates 4%—1"%—4%7%
Commission will be paid to qualified brokers *
The State Life Insurance Company 5 Murbeuge Jaan Department STATE LIFE BUILDING Lot
FHA loans), Apartments and Buildings.
iE
You Save Because We Save Men’ s Suits & Overcoats
18” 9: a5 2 a5 CASE CLOTHES | 215 N. Senate Ave. Open 9 to 9
BUSINESS DIRECTORY"
GUARANTEED
W a LL
AT OUR USUAL
l ow PRICES I®, i TE REY DIAMOND | LOANS 1
Ti" Wol Sussman, In
J ——————— WHILE THE REST OF THE TOWN SLEEPS a. Aw NIGHT bEbG STORE Sta.
USE OUR Lh] rf:
ARRYING
club's Ad-of-the-Month award.
Block Co. vertisement page; Citizens Gas & Coke Utility, | for a smaller Keeling & Co., Inc., for trade paper advertisement; Riper Inc. Press for direct mail; door Advertising Co:“for outdoor advertising; and Keeling & Co., Inc. for a radio program.
—The war production board has made available enough gabardine for the production of at least 75,- | industry representatives at Detroit 000,000 pair of non-rationed civilian shoes this year. |
- a -— ro
Z| CLEANER—
a
SECRET PLANT HIDES GERMANS
Americans Find Civilians in|
Mountain Factory.
NORDHAUSEN, Germany, 13 (U. P.).—Ten thousand Germans got a taste of V-E day today when they poured out of Germany's greatest underground V-1 and V-2 bomb plant. The German civilians had sought refuge from advancing Americans in the plant, hidden deep in Kohnstein mountain near this industrial town. - But they were ferreted out while the eastward surge continued Twenty thousand slave laborers— “political” prisoners. from Russia, Poland, Italy, Frapce, Czechoslovakia, and Belgium—had sweated over the secret weapons in the great underground factory. Here were turned out the deadly buzz-bombs
* land rockets that rained on England
and. Belgium. The German civilian® refugees were attracted by the plant’s protective ceiling—>50 yards of granite. Plant Is Modern
The installations hidden in the mountain, safe from Allied bombs, are as modern as America’s” River]
Wi, BOR Wks AD CONTEST),
The Wm. H. Block Co. yesterday]
The advertisement of Prince |
Matchabelli perfume also won the| club's newspaper color award.
Other awards were to the Wm. H. for a newspaper adlarger than one-half
newspaper advertisement | than one-half page; to|
Sidener & Van for consumer; Studio General Out-
RELEASE SHOE GABARDINE WASHINGTON, April 13 (U. P.).
BEARER IRA mans iv worked feverishly since the advent of allied bombing power in Europe to finish thé’ factory. This town itself lies just south of |: e Harz mountains, in the heart of jhe Boar Germany's underground in-
won the Indianapolis Advertising |qustrial system Kohnstein moun(tain, where the V-plant was found,
is a granite mass 326 meters high. The civilians hiding inside were safe from everything except inquisitive Americans. The plant probably even would have withstood V-bombing— but it couldn't fight off victory.
AUTO RECONVERSION TO BE EQUAL: WPB
WASHINGTON, April 13 (U. PJ). New cars won't roll off assembly lines/for some. time, but when-the time comes to start making them auto manufacturers have the war production board's promise of “equal opportunity” in getting production “started. -
The WPB's pledge of equal oppor- |
tunity in reconversion was made to
last week, and revealed for the first
time at a press luncheon yesterday.
April
Ge Si TER
: a pe PAGE 16-1 Kroger Names
Manager Here
Elsworth P. Robertson has been appointed branch manager at Ine dianapolis for the Kroger Grocery & Baking Co., C,”
president, ane ' nounced today. He has held a similar positioh ag Terre Haute since 1942, Prior to that he was sales mane ager of the Dee troit branch. i In his new sas pacity he wi Mr. Robertson ve charge of the company stores in northwestern Ohio and northwestern Pennsyls vania, : Here he succeeds Arthur W, Metzger, who will become branch manager at Cleveland.
SENATE WILL CHECK
WASHINGTON, April 13 (U. PJ, The senate will look into the freight car shortage following charges by Senator Clyde M. Reed (R. Kas) that lack of cars to _ship grain . (dn
the. Midwest was ‘causing - ‘serious -
Reed charged yesterday that the office of defense transportation had “scornfully rejected the prayer” of western grain producers for relief, He also accused the interstate com= merce commission of failure to do anything about the lack of box cars. He introduced a resolution calling for an inquiry, Chairman Burton K, Wheeler (D. Mont.) of the senate interstate commerce committee to which the resolution was referred said he would name a special sube committee to look into the matter, Wheeler said he had already cone tacted the ODT regarding the Pres= ent cal shortage and had been told | it was due to late winter blizzards | which tiled up freight car movee ments in the East.
LOCAL PRODUCE
Heavy breed hens, 24c. Leghorn tens, ile.
Brotlers, fryers and roasters, under ® ibs., white, and barred rocks, 28c. oe roosters, 15¢. Eggs—Currént receipts. 3ic; grade A large, 34c; grade A medium and B large, 3c: grade x small, 26¢; under grade, 276 or tter—No. 1, S50c. Butterfat—No. 1, 9c: No. 3. 36¢c
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