Indianapolis Times, Indianapolis, Marion County, 7 September 1945 — Page 18

PAGE 18

BUSINESS—

CAR TIRES OFF]

- MANY PROBLEMS

When They Will Be Available, What Material They Will! Be Made Of, and Who Will Get Them Are

Questions U. S. Is Wondering About. WASHINGTON, Sept. 7.— The 24,000,000 American

passenger automobiles that su new tires immediately.

That is the minimum estimate of WPB rubber authori-{p,.qdent Truman three weeks ago. ties, reached after consultation with tire men on industry| gchwellenbach approved the in-

advisory committees. But,

will not be immediately forth- =

coming. ! Tires for tractors and small trucks already are| plentiful. Large truck and |

bus tires, which will get first) call, may be off rationing inl two or three months. It may

take another month to get|

| Gas, Water Holdings.

passenger tires off the ration | list.

” ” ”

THE TIRE industry will be lucky mission today approved plans for in their fight to break the Little to build 3,000.000 tires a month in the refinancing Public Service Co. |Steel formula.

the beginning, the WPB rubber men |

fay. Reconversion problems exist, though they are not discouraging. Some molds will have to be changed for heavy tires, since the military ! required many special treads for| special purposes. The molds which turned out 55,000,000 passenger tires

in 1041 have been stored and can

he dusted off and used But first new production lines and producs tion schedules will have to be set up. The war-expanded capacity of the tire industry is around 70,000,000 passenger tires and 18- 20,000,000 truck and bus tires a year. But that capacity is based on the 48-hour week. What will happen when the rubber workers return to the prewar 38-hour week is one of the important imponderances of reconversion, » " » THIS LOSS of 12 hours of bine

and-a-half pay will bring no joy

"to the workers. And these workers

are half of a labor-management setup which has never been famous for the cordiality of its industrial relations. A wave of strikes could, of course, set the clock back weeks and months. It looks as if essential workers and “hardship cases” from among the 14,000,000 former holders of B and © gasoline ration cards would get first crack at the new tires, “They got about 95 per cent of the $0,000,000 “tires of sorts” allotted to civilians from Pearl Harbor to the end of the Jap war, » » . OPA JUDGES from the number

of tires these drivers received and

from the dearth of their complaints that 2,000,000 tires ought to fix them up as a starter. Then the less essential driver will get his share And while these new tires will be welcome when they arrive, they won't be what you were buying back in. 1941, They will probably be all synthetic for Some time to come. Our very meager supply of natural rubber, and what new natural rubber is received, will go into bus and truck tires, - » »y w THE PROSPECTS of natural rubber are a mystery, and will remain so until rubber specialists can follow occupsing troops into the -rub-ber-producing islands. But while no one in the rubber industry knows what shape the Far Eastern plantations are in, there is some feeling of optimism. Rubber men doubt that the trees have suffered extensive damage. They're pretty tough, And the Dutch, though they were admit tedly hurried, weren't very successful in applying the “scorched earth” policy to the rubber trees, » » x RUBBER requires a lot of labor. It takes two men a year, working full time, to produce a ton of rubber, And it is believed that the Japs

had trouble getting enough labor |:

to work the plantations to capacity. If this is true, it probably means

that a lot of fast-growing jungle

will have to be cut back before the trees can again be tapped. That will be a considerable job. But many of the trees, when they are tapped, will have been rested for four years and hence will yield more latex. Meanwhile the new tires, wi they arrive, will be ‘synthetic.

3 AIRLINES GET

20 TRANSPORTS

WASHINGTON, Sept. 7 (U. P.)— The surplus property board has allocated 20 four-engine C-54 Douglas transports to U, S, flag line airways for use on the North Atlantic route to Europe. The transports, the first thus allocated, are readily convertible to airline operations, The allocation was made on the basis of recommendations by the war, state and navy departments and the civil | 40a aeronautics board, Bi "The availability of commercial air transportation across the North Atlantic will relieve the trafic load

"on military planes and permit a

gradual return of normal commercial operations, the SPB said. A number of additional C-54s will be declared: surplus in the near future, it added. _ Eight of the first 20 O-54s go to Pan-American Airways, Inc. six to’ erican Export Lines and six to Transcontinental & Western Alr,

REQUEST BIDS * , Sept. 6 (U. P)A-The Jonynre

rvived the war need 50,000,000

those 50,000,000

of course,

SEG APPROVES UTILITY PLANS

‘Public Service Co. to Sell

PHILADELPHIA, Sept. 7 (U, P.).

| ~The securities and exchange come-

{of Indiana, Ine.; and the sale of its! water and gas properties. Ld

| Public service will issue $48,000,- |

1000 of first. mortgage bonds, series | F; $13,000,000 of promissory notes | and 150,000 shares of $100 par value preferred stock to refund its $59,314,500 of first mortgage bonds, and $14,818,500 of preferred stock and to prepay: $7,750,000 -in-serial notes.| Sell Gas, Water Utilities

Public Service Co, will sell all! its gas and water properties .and its ice properties in Sheridan, Ind, to the newly-organized Indiana Gas & Water Co, Inc, which will have a capital stock of 300,000 shares of no par value common stock, The properties being transferred to Indiana Gas & Water Co, have a book value of approximately $14,540,000, about 13 per cent of Public Service net assets. Bid for Bonds

To finance the acquisition the new company will issue and sell’ at competitive bidding $8,000,000 “of ‘first mortgage bonds. Public Service Co. will acquire 277,460 shares of {Its common stock abt a price which will enable it to pay the balance owing after application of the proceeds from the sale of the first mortgage bonds. Public Bervice Co. will dispose of this common stock investment “as soon as such disposal may be made on reasonable terms.” The commission reserved juris. diction over the results of the competitive bidding for the bonds and preferred stock, as well as for the bonds of the new company.

TWO PROMOTED BY

F. B. Tucker has been named sales manager and J, G. Thornburgh has been named commercial

{appeared to support organized la{bor’s complaint that the index was | inaccurate

FRIGIDAIRE CO. HERE :

BLS INDEX HIT "BY LABOR HEAD

‘Little Steel’ Basi Basis Is False, Says Schwellenbach.

WASHINGTON, Sept. 7 (U. P.) ~

The bureau of labor statistics cost of living index on which the wartime Little Steel formula was based

does not completely reflect higher |

living costs, Secretary of Labor Lewis B. Schwellenbach said yes- | terday. The formula in effect was | killed by an executive order by

dex “for ‘what it is designed to measure” but announced the Jame

would be changed to end its’ “use|

for purposes to which it Is) not | adapted.” Contract Basis One of the principle peacetime uses of the index was as a basis for cost of living clauses in union contracts which provided that wages should be boosted as the index rose. Schwellenbach’s formal statement

and incomplete as a guide to wartime costs of living. {The unions pressed this argument

They contended that wartime living costs rose 45 per cent instead of the 30 per cent {shown hy the ‘index between Jan. 1, 1041, and Oct. 1, 1944. Halts Pay Hikes The formula Jimited general pay increases to 15 per cent above the January, 1941, level as the amount necessary to offset the cost of living rise between January, 1941, and May, 1942, = Schwellenbach said that the index will be continued under the name of “consumers’ price index for moderate income families in large cities” He said that it will be worthwhile as a measure of the influence of price changes on living costs.

ic KINGAN & C0, BUYS PLANT IN NEBRASKA

Kingan & Co.; Indianapolis meat packers; have bought the meat packing plant of the Kroger Grocery & Baking Co. at Omaha, Neb, Kingan said today. The management will be transferred Nov. 3 and present personnel and operations will be continued, according to W. R. Sinclair, Ringan president,

LOCAL ISSUES

Nominal quotations Jumished by Indi anapolis securities dealer:

STOCKS Bid Asked Agents Pin Corp com........, EE Xs Agents Pin Corp pfd.......... 19 0 LS Ayres 4%% pid. ..ovviuin. 108 Ns Ayrshire Col com ..... ve 18 19% Belt R Btk Yds eom .. 3% » Belt R 8tk Yds pfd 83% ... Bobbs-Merrill 4'4% prd a... ‘Central Soya com ..... a 40 Circle Theater com .......... 9 : Comwith Loan 8% pfd .108 108% Cons Fin Corp pfd ...... bid 100 Delta Electric com. ........... 1 16 Electronic Lab com 5% ayne & k Jackson RR ptd 0" Ya Hook ig CO 20M vrii.iins A

»0 Home IT Ft Wayne 7% pid.. Ind Asso Tel 5% pfa.. *Ind & Mich E 4% nd pid

during the war was associated with the commercial and service engineering departments.

LOCAL PRODUCE

(Prices for plant delivery) All breed hens, 24.5c, Leghorn hens, 22.5. Rroflers, fryers and roosters under § 'bs., white and barred rocks, 28.05e¢, Leghorn springers, 28.50. All No. 2 poultry, 4c less, Old roosters, 20c¢.

Eggs~—Current receipts, 3850; grade A large, 430; grade A medium, 35c; under grade, 32c; pullets, 20¢. Butter—No. 1, 50c. Butterfat—No. 1, No. 2, 38¢c,

The 3775 hogs received at the

partment of agriculture said, The 425 cattle received averaged about steady, but there was a slight uneven loss in a clean-up trade. The 575 calves received sold from

3300-2800 pounds . 700- 900 pounds soeivieen

900-1000 POUBAS .usvesas 18. 1100-1300 : pies 1300-1500 DOUNAR 1 vsvsssesers 216.75 Medium — 100-1100 POURAR «vexaeesss veo 1275015.00 1100-1300 pounds ....1:111LL [email protected] 0 200-1100 Pounds ............. 10.756 13.00 Heifers . og A a - POUNAR \iciiviines, [email protected] 800-1000 POUNAS +.0vsrsnsr. a

1 and service manager of the Frigi- indpls & L con 27% a daire Refrigerating Equipment Co.|!® Bier MI rr Indpls Rallways COM ...uiire 1% 18% here, the firm said today. _ |Indpls Water Class A com... 19% .... Mr, Tucker has been with the Kingwn & Co ia “ company since 1926. He has held | Kingan & Co ¢ i 5% h Lingoln Loan Co Sih % pid. 101 the positions of parts manager, Lincoln Nat Life com 5 stock controller and district man-|{P R Mallory pfd .. 324 ager during the war years. P R Mallory com .. 3a Mastic Asphalt 3, 8 Mr. Thornburgh, who came to the! N Ind Pb Sery 5% a 110 firm in 1924, was first a Delco-Light |Eub Serv Ind 5% 104 104 b Servonf Ind com .....ec. 3 \ % district manager and ‘later become! | EN ars Be Taian Tae uh Ross Gear & Tool com ...... 26! ; Delco-Light sales manager. He Cos Con bt er ver EE served as Frigidaire district man-|Siokely.-Van Camp pr pf .... 20 21% ager and as credit manager, and | Terre Haute Malleabls...., % T%

Local Livestock Trade Stays Active and Steady Fodor

Indianapolis stockyards sold active | hed and steady today, the U. 8. de-

steady to 50 cents up. Sheep totaled 1075, with fat) lambs kteady to weak. GOOP TO CHOICE HOGE (3119) 120- 140 pounds ...vv..oinne “ M0 1 140+ 180 ds Aenes sasannes ' '% v] 160 pounds UP .oveiireranins Medium 160+ 220 pounds ...o.vvinnine 13.28014.78 © Packing Sows Good to Choos 370+ 400 Pounds .ovavensveies 14.00 400- 500 d lo POUNAS ievunninsane 14.08 Medium { 250+ 080 pounds .\eioiieniias [email protected] Slaughter Pigy 10 Good en 120 pounds . + [email protected] CATTLE (A) Steers Chofce— 700+ 000 pounds .....oeues wee 10.25011.50 900-1100 pounds ...... eensene 16.502117.75 1100-1300 POUNDS + .ovsvnsnrney 16.50011.78 “ers [email protected]

U 8 ‘Machine com United Tel Co 8% ......0.00vt. 99 Union Title com .. canvesnns 30

BONDS 4 8 Buhner Pertilizer 5s American Loan 4%s 680.,..... Ch of Com Bldg 4's 61....... 0 Citizens Ind Tel ns a. rane 103 ‘is Columbia Club ae we 80 8s Consol Pin 88 56. ..........:.. . Ind Asso rel a 4%s 0. Indpls P & L 3%s 70.. Indpls Railways Co 5s M 8 Indpls Water Co 3's "ws 107% Kuhner Packing Co 4s bY. TIN » N Ind Bub) Sary a Ti innnsdl N Ind Tel 4s 65. ...... Pub Serv . Ind i n Pub Tel 4%s B88. . Trae Term Corp Ss 0.. H J Willlamson Inc 5s 88..... *Ex-dividend.

American Loan

Aug. 31 and aggregated 114366 short tons since V-E day. I Bulls (all weights) Best U. S. STATEMENT oa (all welghts) +.viviviee [email protected] | Sausage LONER ER 11.00012.00] WASHINGTON, Sept. 7 (U. P.) ~Qov-} MOGI 0s dean oa [email protected] | ernment expenses and receipts for the Cutter and common ........ 8.00@ 0.75 current fiscal year through Sept. 5 com CALVES (318) pared with a Re oo: Last ¥ 1s 8 ear Good and hI G41 weighin) Expenses #16, 191,180.830 $17,522,714, 788 Jood and choloe ......w.ie. [email protected] | wor Spend. 14.468, 01.563 15,978,330,189 yatimen and medium ..... 10.00 na Receipts . ,.919.884,000 00 shdaL3al, 142 - HHI SF ET W Net Def. AT, Feedw and Seekip Ostile and Calves Cash Bal 17.630,566.422 16.615.618.271 Ch : tears 9 Pub. Debt L263, II 9 301 211,169,388,673 800 800 pounds ....... sarees 180@IATS| 00 Res... 200RTTSIAII ° 30.005677.268 Jo.lo POURAS su yvansenvnes 18, 15.00 , INDIANAOLI CLEA CLEARING HovsE Fir nds 1. 19.80 arings .. He 800-1080 POURS Loeseirereees HHOO@IREG| DOUME Loi 1M. TI Medium - 800-1080 pOUnAR .ovavnnerness [email protected] 300-1000 pounds 4.75010.38 : CALVES (Steers) : 00+ on hones 50 caranenes [email protected] Mediumee 9 800 pounds down vere 1.00Q 00 Con” voaaans we poun own Lon vnnane IN 16.50 A Medium as 500 pounds dows .........., [email protected] Quiskiyy Son enident lly x SHEEP (107) y CA No T Ewes (Shorn) ‘» ~ 0 Good and choice ..... aaa 5 00 lame Common and medium. +4 : oy ol Wateh

: SMELTING COMPANY PROMOTES CALLIS

.+| pginted sales manager of the Whit_|ing and Detroit plants of the Fed: {erated Metals division, American

ov | sald today.

STR nin 66,000,000 em including 11 million ina forces—ave

THE INDIANAPOLIS TIMES

Here's How U. S. Labor Stacks Up [PRODUCTION GROUP (While Federal Debt Grew,

State Governments Thrived 7 :

By Seripps- Howard Newspapers WASHINGTON, Sept. T—While the war has been rocketing the federal debt to $263 billion, state goveriments have enjoyed the era of

America’s normal work force, the war vears, will shrink next year.

The $64 question for congress is “How can the nation’s workers be kept fully employed after reconversifn dislocations are over and the

U. 8. settles down to peacetime routine?” for an estimated 53,000,000, according to a report by the commitiee for ‘economic development after a two-year survey. This chart shows how increased by over 50 per cent during

There will have to he jobs

SPB DECIDES WAR | PLANT SALE BASIS!

WASHINGTON, Sept. 7 (U, PJ.| —The surplus property board, ig-| noring fustice department recom- | mendations, today approves a reg- | ulation setting up a more flexible policy governing the sale of €x=| cess government plants. The justice department had proposed that sales of government

plants be limited to buyers who guarantee fixed levels of employment and that leases carry options for sale at a price based on earnings accruing during the period o the lease. In effect, the SPB rejected those proposals ‘in . drawing up its new regulation. The regulation, which will be made public Monday, will prohibit the purchase of a plant for resale and will favor local independent capital over outside commercial interests. Plants must be » {bought strictly. for use. It also will favor prospective purchasers who show they have a greater employmena potential than other bidders who may offer more money. The SPB was said to feel that the justice department's recommendations ‘would set up slimitations that might prove too rigid and thus hamper efforts to sell or lease the surplus plants.

'E' Production Awards to End

WASHINGTON, Sept. 7 (U. P). ~—Termination of the army-navy “BE” award program under which some 4000 industrial plans and other enterprises won recognition for outstanding contribution to the war effort was announced today by Under Secretary of War Robert P. Patterson and Assistant Secretary of Navy H., Struve Hensel, Awards granted at the August meetings of the army and navy

| Air Conditioners

Meetings

The Air Conditioning Council of | Indianapolis will resume monthly | meetings with a discussion by John E. Haines, Minneapolis Honeywell Regulator Co., and Gordon Volkenant, co-ordinator. of research in electronic development, on “Magic ii Electronics.” The meeting will be held the evening of Sept. 14 in the Travertine room of the Lincoln hotel.

CITY LIVING COSTS DOWN 0.29% IN JULY

Living costs in Indianapolis declined 0.2 per cent from June to

ference board reported today. Living costs fell in 26 of the 63 industrial cities listed by the board, and increased in 23 cities. Evansville showed d& decline of 0.6

ing to the report.

FORMER LOCAL MAN

Lawrence N. Helm, Norfolk & Western traffic representative, has returned to his pre-war assignment as foreign freight agent for the railway with offices in Cincinnati, the railway said today. Mr, Helm, who was commercial agent for the railway in Indians apolis from 1924 to 1937, helped or= ganize and head the traffic control agency for the army quartermaster general during the war,

AUTO MEN TO MEET SOON IN LOUISVILLE

The Indianapolis and Cincinnati Booster clubs, Automotive Booster Club International, Inc. will hold a booster-jobber meeting in Louisville, Ky., Sept. 18, the local club said today. ’ Special invitations are being sent

board for production- awards remain to be presented. That will end the program. About 5 per cent of the nation’s war plants won recognition with the award.

Aubrey M. Callis has been ap-

Smelting & Refining Oo., the firm

Mr. Callis,

manager of the Pacific

REPORT ON WOOD PULP

The department of commerce reported today that wood pulp im-ported--from overseas totaled 19,100 short tone during the week ended

Lambs ¢ Good and choice . Medium -and good.

Joon 600- 800 pounds 800-1000 pounds sane Medium

perenne 14,28 hiana J

15.50 213.50

whose headquarters sfwill be at Whiting, was assistant {general # |coast department with headquar"I'iters at Los Angeles.

‘WASHINGTON, Sept. 7 (U. Pom)

{to Louisville wholesalers to at-

July, the National Industrial Con-|

per cent in the same period, accord |.

REJOINS RAILWAY|

| WILL BE ABOLISHED

WASHINGTON, Sept. 7 (U. P.).— The production readjustment committee and four dWisions under its control will be abolished Sept. 30;

nouncéd yesterday.

executive committee staff. The committee has been responsible for policies governing cutbacks, contracts run-outs and other matters pertaining to production readjustments

FIRM BUYS STEEL REGULATING DEVICE

PHILADELPHIA, Sept 6 (U, P.). —Brown Instrument Co. division of Minneapolis-Honeywell Regulator Company, today announced acquisition of all patent rights to a new platinum thermocouple used in speeding up and making ‘more accurate and economical production of stainless steel. Rights covering the manufacture and sale were acquired from Rustless Iron & Steel Corp. Baltimore.

of stainless steel and speed meas:

{urement of molten steel tempera-

tures, an official said.

the war production board an-

The committee was created Dec. 3, 1944. Its duties embraced the re- | sponsibilities of the old production

The device makes it possible to improve the quality and uniformity

their greidtest prosperity.

On top of this, they have increased their credits in the govern-ment-held unemployment compensation fund from $2 billions in 1941 to nearly $7 billions in 1945. The contrast betweefi state and federal fiscal positions was underscored today in the evidence before congressional committees studying the proposal for supplementing state unemployment benefits with funds from the U. 8. treasury. This plan, which would boost the payments to a maximum of $25 a week for 26 weeks, was item No, 1 in the program laid before congress by the President yesterday. "State governments aré opposing the pending bill on the gorund that it would be the opening wedge in federalization of the jobless compensation system, a move which they have fought since the social =eeurity program started. The council of state governments reoprted state financial conditions as “better than ever before.” Adoption of forward-looking policies on taxes, debt and reserve funds, the

FRIDAY; SEPT. 1, 1045.

The states have ¢hopped upwards ot two billions from thelr longterm debts. They have accumulated record-breaking balances in ‘their general, highway construction and special post-war funds.

council added, has put states in a

sound position- “to cope with the

reconversion period just ahead.”

The department of commerce

agreed. A report just issued by its census bureau said the combination of abnormally high tax receipts and relatively low expenditures has resulted in “an apparent prosperity which is unprecedented in the financial history of the sta The bureau cautioned, however, that wartime prosperity for states is a “transitory phenomenon whose continuance cannot be counted on for an extended period.”

r From another quarter, meanwhile,

the jobless aid bill was dealt a blow which. some senators predicted would mean its death. A poll being taken among governors by the senate finance committee disclosed that many states have provisions on their laws which would prevent beneficiaries from accepting the added federal grants without for. feiting a corresponding sum of their state aid.

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