Indianapolis Times, Indianapolis, Marion County, 22 June 1945 — Page 12

THE INDIANAPOLIS TIMES .

Says Success of This Control Will Indicate Ability of be Government to Achieve Full Employment.

By JOHN W. LOVE Scripps-Howard Staff Writer

strictions on this or that, we'd soon have enough and we'd gladly pay the higher price. Poultry and eggs are often mentioned, and perhaps the _ statement would be true within a few months after the

change was made. But it

couldn't be true as to meat | ()GAL YARDS not for a long time. If the

ka the price might 3 N readily double and | stay there four or pap et Remains Active and i

. five years. A teri. rific amount of Steady. purchasing power could be brought | Hogs continued to sell at ceiling 40 bear On the levels at the Indianapolis stock-

limited supply of} meat. a Dy ihe! yards today, the war food admin-

procurement serv; istration reported.

John Love

» » »

THE SUPPLY of any one com-| oo = modity could. be increased in some |

rise. In a few. of them the SUPPLY | 0 ins. ly at all. Supplies might actually I pe reduced by a rise in prices, if | their holders thought a second rise

sold at unchanged prices.

GOOD TO CHOICE HOGS (5425) Whatever might be true of any | 10. 350 bouids 11vanu eas 1450 one item, there would be no pOSSl- Medium— bility of increasing supplies of ev-| ervthing today by allowing their] Packing Sows

: : . | Good to Choice— prices to rise. We would find OUr-|%0. 59 hounds ............. 14.08 selves simply paying more money Good for the same amount of goods. This} 00. 530 pounds ............. 14.05

would be inflation. The pumspose of price control and its office of price| Slaughter Pigs administration is to prevent this Medium to Good—

are well taken. But its task has|Good—

Medium—

black marketing and other abuses gh pounds which have been paraded before! 500-1000 pounds the public, in newspapers and gen-| Medium

eral conversation, may. have the|common—

trols, on prices and on the wages|_ ~ Bulls (all weights)

them out within a few weeks. But|Ssusage—

eral run of goods sold at retail. This MII

WASHINGTON, June 22.—Everywhere=you hear the remark that if the government would remove the price re-|

COURT 0. K.'S

MONON PLANS)

Stockholders Eliminated; $14,000,000 Canceled.

A modified reorganization program for the Chicago, Indianapolis and Louisville Railway (the Monon) Co., in bankruptcy since 1933, was’ approved yesterday by Federal Judge Michael L. Igoe in Chicago. The plan eliminates all present stockholders, cuts capitalization to around $30,000,000 from $42,500,000 and cancel $14,000,000 in defaulte interest. . The amended plan, previously approved by the interstate commerce

commission and federal security].

and exchange commission, is retroactive to Jan. 1, 1943. No provision is made for the secured notes and claims nor for outstanding preferred and common stocks, a majority of which are held

American public were allowed to j spend as much as It was willing to a lay out for meat

: Ves { 5 - degree just by allowing its price tol Cal es amounted to 825 and con g Be Jy tinued steady with yesterday's|

would go up quickly, in others hard-| "op. 3, (Leer) and lambs received

| | were soon to follow. 130-240 POURAS. + exwnerssen [email protected] 140- 160 pounds ......ov.vuns 14.50@ 14.80

160- 220 pounds ..... creas [email protected]

2 = = Choice— * 700- 900 pounds ......ece000n [email protected] THE OPA has been under many 200-1100 pounds... or. [email protected] - pounds .... [email protected] criticisms. No doubt some of them | su” cos POUTGe Tots reer [email protected]

: 700- 900 pounds .e...s0ev0ses 15.00@ 16.25 been one of which required a super-| 900-1100 pounds ............. [email protected] 1100-1300 POUNAS +..vavsasenss [email protected] human agency to administer. OVer| 1300-1500 pounds .......eceees [email protected]

the years it has probably been do-| 700-100 pounds [email protected] ing as well as any group of men L10p-13% pounds .........e.s . [email protected] could do, given the means which! 700-1100 pounds 1... .......... [email protected] have been placed at its disposal. Chote “ Heifars om - oungs ...... ...» [email protected] The large number of examples of| gog_1000 wi Carte iraaen 15.23G17.00

[email protected] . [email protected]

[email protected]

effect of completely breaking down 300- 900 pounds ............. [email protected] price control. If producers and Cows (all weights) wage earnérs once got the idea they | yeqium ~~" 10 2 Rann could rid themselves of their con-|Cutter and common ......... [email protected]

Canner ...... evens 6.75@ 8.75

linked to prices, they could wipe] Good (all weights)........ [email protected]

” guess they would double, in the gen-| g.1050 pounds ............ [email protected]| “Belt R Stk Yds pfd..........

-1000 POUNAS .....ersenns [email protected] | *Bobbs-Merrill 4'%2% pf

ointly by the Louisville and Nashville and the Southern railroads. First and second mortgage income bonds totaling. $16,500,000 are provided for in the plan, and also class A and B common stock totaling $13.500,000 at $25 a share for each class. May Complete in 1946 Judge Igoe described the program

las “fair and equitable,” and said [that it did not discriminate against | any class of creditor.

The property will be relieved of

ices would have Cattle receipts totaled 675 and all present fixed interest charges to match it With! oc and heifers continued nom-

their outlays. inally steady as cows sold slowly {about in line with yesterday's

lof about $1,500,000 a year. SubIstituted for these will be contingent charges of $1,005,704 designated for contingent interest on

{new income bonds, sinking funds {for bond retirement and funds for

additions and improvements.

railroads.

ization managers. : Judge Igoe said the reorganiza-

Kind of general price increase. | "MOP oo amon WB GETS STRIKE AT-STATE PLANT,

CHICAGO, June 21 (U. P.).—The regional war labor board has referred to the national WLB' the strike of 180 United Mine Workers, District 50, at the Northern Indi-

ana Brass Co., Elkhart, Ind.

by union officials.

tions board for an election.

Bailing Out of Pusher Plane

the cockpit of a pusher-type plane by

Problem of pilot leaving parachute in case of emergency has been solved by an automatio device perfected by Consolidated Vultee Aircraft Corp. in California. Demonstrated by inventor, Frank Davis, release of a safety catch disengages the pilot's harness and drops the seat sharply to the lowered position, where it pivots forward, throwing pilot down and clear of pusher prop. ;

u. 5: Opens 'Money Factory’ To Public After 3 Years' Ban

By FREDERICK C. OTHMAN United Press Staff Correspondent WASHINGTON. June 22 (U. P.) —This concerns money. Piles of it. Bales of greenbacks. Stacks of $10,000 bills. Money all over the place. And maybe you'd be interested to know that the gents who make it are

Fixed charges, under the plan, will amount to .$162,000, payable under existing. contracts and leases for use of facilities owned by other

The plan sets up a stock trust to handle negotiations for the sale of controlling interest, and also calls

for appointment of three reorganMoney is wonderful. It even smells good, when" fresh.

What I'm getting at is that the bureau of printing and engraving, the greatest money factory in the| world, is open to the public again|press run it through the machinery after three years of worrying about |that puts on the numbers and the pictures of ex-presidents, The printer stands there all day |= polishing the printing plate as it comes out of the ink rollers. does this with his bare hands, which immediately turn green. Then his gins to itch and his face also becomes green and by the end of the day he's green all over. He prints twelve bills on every feminine | checkers in the next room look over his work and if he’s made a mess of n to tell you|say a $10,000 bill they don't toss it {in the waste- basket.

The stuff stret¢ches. The boys wet |2 dozen holes in it and I would e they print the think that the bureau also could

{go into the confetti business. Pay for Lost Bills Another crew of printers put on

tion probably would not be com250- 550 pounds ........ ... [email protected] sDleted before 1946.

I rushed over to the gray pile on 14th street where $34,000.000 comes of the presses every 24 hours for a look—and perhaps a

Money Stretches Director Alvin W, Hall turnéd me over to Rosalie, a money-making veteran of 28 years. She took me on a tramp around the place, introduced me to the foremen and said she certainly was sorry I got green ink on‘my pants, It came off the $10,000 bill machine and I understand it’s indelible. I am now in a positio

The WLB declared late yesterday that the strike was interfering with war production and was authorized

The union refused to comply with the WLB directive of Oct. 20, 1944, which ordered that the contract between the company and the union be extended for 30 days during which time the union should petition the national labor rela-

the paper befor pretty pictures and it expands a fraction of an inch per dollar bill. | They take their wet dough, cook it 24 hours and—as you doubtless have | the treasurer's signature by ma|chine, he not having enough hands

. discovered—it contracts. Company officials said the union

was not authorized to negotiate 1 : ‘ The paper is about as good as it Soon a widget with knives in it goes

the red and blue|to work, Out gushes the money, threads in it aren’t pure silk any-|ready to spend. |

more. It breaks the paper maker's kers use a lot of

The money ma

: : 4 CONE ee [email protected] every producer and wage €arner.is|’ Medium . xiavsetoing 10.50@1200f The union refused to hold an also a consumer, and so he usually| Cutter and common ....... [email protected] | plection because 75 members are demands that general price control CALVES (825) now with the armed forces. be continued. Vealers (all weights) Good and choice ... ...... . [email protected] 2 8. nN Common and medium 9.509.15.50 LOCAL ISSUES HOW HIGH would prices go if [Cull . “aie 5.00@ 9.00

use | time counting the product. They

heart but sometimes he’s got to # seldom lose any. If they do they've

all controls were lifted before the! Feeder and Stocker Cattle and Calves STOCKS Asked oice— Steers {Agents Fin Corp com......... 714 end of the war? Nobody knows, but | 500- 800 pounds ............ 13.00@ 14.50 jaestis Yin Corp pla Cereraens 8 20 - . 800-1050 POUNAS ..........es [email protected] | L- S. Ayres 4'2% pfd......... . « a case can readily be made for the | Good— 3 @15.00 TY ak Blteerernenr 5 500- 800 POUNAS ....uuessses [email protected] | ‘Belt R Stk Yds com......... 38%

Bobbs-Merrill com

is based partly on the history of | common— Central Soya com......... 1919 and 1920, partly on compari-| 300- 900 pounds ............ 3.50910.00 Circle Theater. com oid 3 30 gons of new liquid purchasing POWT | and Sauves (Steers) Delta Elec com............. J 15 a ¥ ana choice— Electronic COM. .c vet ev 4% 5! with thé amounts of goods on hand.) se pounds down............ [email protected] Ft Wayne & Jackson RR pf.. 92 9614 This much we do know: The price |Medium— *Hook Drug Co com cine iV 19% rise would run too far. A el 500 pounds down ... [email protected]| Home TT Ft Wayne 7% pfd. 51 5 4 : ro) Calves (Heifers) *Ind Asso Tel 5% pfd ... 10414 would follow, like those of 1920 and! Good and choice— | Ind & Mich E 4'2 pfd......109 ” " . | 500 pounds down . Co. 13.506p15.50 "In Veuenes 1930. Millions would lose their jobs.| goo FOMRES [email protected] TIPS ral com relia 26 19

$245 © $750

DELTA MOTOR-DRIVEN TOOLS Exclusively at

VONNEGUT'S 120 E. Washington St,

GENE

CLOTHING COMPANY

131 W. Washington St. Directly Opposite Indians Theater

USE YOUR CREDIT at oo] Make Woolworkiag Your Bobby. Use

got to pay for it. The biggest seller |

If you want to make money you E - ; . {sprinkle it down like the laundry | 18 the $1 bill but right now there's

|does shirts. Then you wheel it to]? rush qrder on $2 bills. Probably |= the press room where a printer | OD accotint of the hoss race busi- |

‘land two lady assistants on each]

|FIXED DEPRECIATION TO SIMPLIFY TAXES

i WASHINGTON, June 22 (U. P) dpis P & L ptd “112 115 | —Joseph D. Nunan Jr, commis- ! | sioner of the bureau of internal rev- { enue, today announced a plan to |allow a businessman

Hall & Co. make their ink by! | secret formula and a Mr. Maguire | said maybe I'd like to hold $125,-! {500,000 in $10,000 bills. nice feeling, I thought, but he said it was just so nmtuch paper to him.

Break Shingle | Black Market

Kind of a|

+ | poses of income and excess profits |taxes, which will not be changed The, office of price administration | hl said today it had broken up a a nation-wide black market in shinThe program, under which writ274 | ten assurance may be secured that {the rates mutually agreed upon by | “ithe bureau and the taxpayer will

not be changed, was prepared be-

The black market, said, was exposed with the arrest of two Bellingham, Wash., lumber The OPA described them as leaders of the ring. J. Charles Denis, U. 8. district attorney, said the shingles black market originated in Washington and western Canada. First com- | plaints reached OPA from Texas |

; changed overall depreciation periods year after year.

| make tax laws more definite and to ; aid business as much as possible.

PREPARE FIGHT "ON 166 RULING

Western Railroads Contest Freight Rate Order.

WASHINGTON, June 22 (U. P.), —The western railroads are preparing to contest the interstate commerce commission's freight rate equalization order of May 19, W. H. Dana of Chicdgo, chairman of the

western traffic executive committee, |:

said today. ; The 1€C ordered a temporary 10 per cent reduction in “class rates” throughout the South and West, except in Pacific Coast territory, and a 10 per cent boost in the Northeast. Changes were ‘to be effective

Aug. 30. According top ICC pro-|*

cedure carriers have 60 days In which to object’ to commission rulings. i Dana said that the western carriers would join with all the others in following another part of the ICC

i»

Acme-Evans Co.

“Samuel R. Harrell has been elected president of the AcmeEvans Co., succeeding Isaac E. Woodard, who becomes board chairman, the company an-

Bdgar H.

year completed 50 years of active service with the firm, was ‘named honorary chairman of the corporation. Mr. Harrell has been with the company Mr. Harrell ince 1925, and has served as executive vice pres ident since 1942. Mr, Woodard joined the company in 1909, at the time of-the consolidation of the Acme Milling Co. and George T. Evans & Sons. He has been president since 1933. :

order—setting up a uniform system of classifying freight for shipment.

Central Group to Ask “Reopening

The steering committee of the Central Territory Rate conference will recommend that the group take action to seek reopening and modification of the ICC's recent order increasing rail freight rates: 10 per cent in this territory, it" was decided yesterday. Representatives of Wisconsin, Illinois, Indiana, Michigan, - Ohio and Pennsylvania met in the Indiana State Chamber of Commerce offices here under the chairmanship of A. H. Schwietert, Chicago Association of Commerce traffic director. Final action will follow the conference next Wednesday in Columbus, Ohio.

EXCHANGE CLUB PICNIC The annual Exchange club picnic will be held tomorrow at the Willard Bolte farm, near Noblesville. The picnic will be held in place of the regular meeting today.

SUB-LET RENTALS

said today.

local office.

Harrell to Head FIGHTS SLASH * MEAT EXPORTS

Argentina Producers Want.

nounced today. |

Evans, who last |

MUST BE LISTED

Persons who sub-let rented apartments to others even for a month must register with the local OPA rent office in compliance with national rent regulations, C. R. Gutermuth, director of the local office,

Nearly 100,000 residential rental units are now registered with the

U. S. STATEMENT

pared with a year ago: This Year Last Year

INDIANAPOLIS CLEARING HOUSE Clearings $

WASHINGTON, June 22 (U. P.) —Government expenses and receipts for the current fiscal year through June 20 com-

Expenses .$96,012,215,336 $00,707,121,167 War Spending 87,281,007,452 84,453,600,739 Receipts . 43,758,561 ,744 41,308,945,339 Net Deficit... 53,153,653,002 49,398,138,177 Cash Bal. ... 17,335,476,558 8,881,826,900 Work. Bal. .. 16,572,521,418 8,118,080,436 Public Debt. .250,366,962 836 100,346,312,975 Gold Res, ... 20,265,292,735 21,200,621,446

$ 4,933,000

More Profits.

By ERNIE HILL Times Foreign Correspondent BUENOS AIRES, Argentina, June 22.—Well-fed Argentina is shipping less apd less beef to the meat« starved world because cattlemen, packers. and workers are holding out for larger profits. The three-way economic fight is further complicated by the political quarreling of cattlemen and packers with the Farrell-Perron govern ment. The total result is a drastie

drop in meat shipments for coune tries desperately in need of them. Figures just released show that meat shipments during the first five months of the year fell 48 per cent under those of last year and were about one-third. of the previous

has huge profits from exports during

{the war and feels no financial pinch {with the decline of shipments.

Blame Each Other

The powerful cattle industry blames current prices, the Farrell Perron government and the new

cattlemen and packing plants. Packing plants blame the government and some 20,000 of their own em-

the last 60 days. The cattle industry's leaders have issued a statement saying that gove ernment interference in business is to blame and that empty vessels are leaving Buenos Aires for Europe because of strikes and the government. The government has charged that industry is sabotaging the government and demanding excessive profits.

Debits .......cciivievenivancens 17,533,000

KEEP BUYING

| i - |

ICY UAT IR Vu 47 ILL

ha lA aR yy LOW PRICES

WAGON WHEAT

FU Indianapolis flour mills and grain ele- | .|vators are paying $1.57 per bushel for | (other grades on their 2 white or No. 2 red, testing 32 lbs. or better, 70c; corn, No. 3 |yellow, shelled old crop, $1.10 per bushel, land No. 3 white, shelled corn, old crop,

If the government can ever suc-| 500 pounds down .. [email protected]| ‘Indpls Railways com © 18 < y . { ’ | *Indpls Water pfd .... 105 cessfully guarantee full employment, | SHEEP (300) Indpls Water Class A com. .. 19% 20 the test is being made today. If it] Ewes (Shorm) Jeff Nat Life com...... “ is hs | Good and choice ... 600@ 7.00! Kingan & Co pfd . ' 3 loses control of prices, whether | common a Timer. 4309 8o0|Kingsn & Co com 4% through inadequate methods of war Lambs -(Shotw) ‘Lincoln Loan Co 812% pid... 97 101 HH ov y ! . incoln Nat ife COM .....:+o. 5 finance or a soft Houcy On Wages! Good and choice . eo 13.750 14 25 ‘PR Mallory pId ....ici0innn } 3% | for a five-year period, except at or a failure of the OPA, it will Mei and good . civees [email protected] R Mallory com ... . ommon .... ‘ .. 10.50@ 12.00 | Mastic 8 it. ‘e 10%, prove itself incapable of providing | a 9 | Masti gapnal 57 111 { LAMBS (Spring) hn. Lng . 108 jobs ‘for everybody. This is the real! cj civ sorted 16.25 {Rub Serv Ind 3% case 108 : te etylal ILD t¥sesssnnasanne a 4 Serv o n com : test of government planning, here|Good and choice ........... 14.75@16 00 po ress Laundry com ....... 19 and now. Medium and good............ [email protected] | *Ross Gear & Tool com ..... 251%, h 4 Common sass sess sasveane 11.00013 i Ind GEZE 4.8% .» +. sess 1104 1 NN A —-,,,, Stokely-Van Camp pr pf .... 19% 20'2 | SOMMER DISMISSED |erre Haute Malleable ........ 5% 1 : “ LOCAL PRODUCE U 8 Machine com ............ 2'2 PEORIA, Ili, June 22 (U. P.).—| United Tel Co 5% +....ooonns 99 The board of directors of the Key=| ay breed hens. 27c Union Tile com oo 1 stone Steel & Wire Co. today dis-| Broilers, fryers and roosters under 844 e 1 onus 98 100 , - Ibs 1d Et d rocl 1 ~! American Loan 28 55 i000 98. ( missed W. H. Sommer as president | 2S A ats weks, 30%e | American Loan 4%s 60 ...... 98 100 ! 2 stock, 26%c Bul Pevillizer 33 54 bd aU 1e “Las s re { Old st . 20%e unner er 12 8 9% iin i because he “has been a source o gia. yop rs, Was. grade A|Ch Of Com Bldg 4's 81 ...... 90 internal friction within the ‘eom- | ,.00 30 grade A medium, 38¢; No| Citizens Ind Tel 43s 61 ......103 . pany’s executive branch for a num-|grade, 3c Colimbly Cit a 38 «rine $2 : o 3 \Yer—iNo ¥ : ns ! Ciasviaves . ber of years we: No. 2. 36e L Ste. BustartabmNo. iy. Ase Tel Co S%m 0 .... 108 I —————— — Indpls P I 3%s 70 . wines HIT Indpls Railways Co 5s 57 .... 93 95 : Indpis Water Co 32s 68 .....107'% Kuhner Packing Co 4s 54 ..... 99 y N Ind Pub Serv 3'2s 73 ......104 | Jinn 1.|N Ind Tel 4's 558 .. 93 cree |N LEVINSON 1S 'MANGERS fc EACH 3|rss ins oi 18" I= =| Pub Tel 4'4s 55 seessts: 100 = c =|Trac Term Corp 5s 67 97 100 has the |=We Buy Usable Wire GarmentZ |H 3 uamson Inc 55 58 .... 08 o- . ~div STRAWS =Hangers at 10¢c per bundle of 102 | x-dividend. = 62 Stores All Over Indianapolis =|

Watch Repairing

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IEE

NBT 27 ag CASE CLOTHS

[PEARSON'S

128 N. Penn. LI-5513

FURNITURE ¢ PIANOS B A NU INSTRUMENTS RECORDS ¢ SHEET MUSIC

E BUY DIAMONDS

Orders Now Being Accepted for the New

n 6-MM. 8 DeVRY Picture in »

[WHILE THE REST OF | THE TOWN SLEEPS ye. "HAAU SN ALL NIGHT DRUG STOKE

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Up N. Senate Ave. Open 9 to 9

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12 dan

Tire Value

SAVE YOUR TIRES WHILE YOU CAN

For the majority of motorists new tires are still months away so take,care of your tires, regularly, repaired and recapped prom is done by trained mechanics and is fully guaranteed.

WE REPAIR, VULCANIZE, RECAP ALL SIZES CAR, TRUCK AND BUS TIRES

AIEEE EEN AEE

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8. & M. SEALED-BEAM SPOTLIGHTS, «310.95 SEALED - BEAM FOG & DRIVING LIGHTS

aon... 3010

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NEIL TIE TT ELH RE LEH LH HA TTT THM HON THN

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Z XY )

year's, Cattle herds are getting tre{mendous, but the industry already

social laws. The‘government blames

ployees, who have been on strike for

ACCESSORIES. |

EAE EERE EEE CEE EE EE RR Cn ERR NRenini

IH SA AER IT

1331

pack .........> 1409 §

TTTRITTRTOUHTT

T08P. M.

By GERA] Times Forel ON LUZON, miles northeast place called F

‘ Mr. Thorp get a look at surgical hospit: place. There's | long grass is br baked. There tents, so hot in comfortable to ¢ sun, Proud Capt. Robert phia;, and. Capt. Richmond, Va, trance, They had rec that day so had visitor around seemed, prouder than anything The place ha

antiseptic smel

home. The ope the middle .of | gasoline lantern a cardboard hc blood-stained ba sandbags arount Those bags ¢ night the Japs

hospital with m

a wounded man from the tent Everyone droppe the firing eased back to work. Whole B Capt. Brubak to several lar stacked along tl “That is our w “Plasma is a nothing like wh The Red Cross | the states.” He opened ont pulled out a hal was a label on | Red Cross in Cl jars also from | Portland. From “There was night,” said Cs

had a compour

right arm from lets—he needed

hurry. We gav

PROGRAM Golden Rule ¢

will hold a st [Father's day pro

ght in the t

Dickinson is w [Oscar Dickinson

40,00

SA sur

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