Indianapolis Times, Indianapolis, Marion County, 17 September 1945 — Page 6
THREE NATIONS IN
RUBBER GAME NOW
United States Synthetic Plants Break Monopoly Once
Held by Brit
" By LOUIS United Press §
Unofficial reports from
Indies indicate that the world’
sh and Dutch.
F. KEEMLE : 2 taff Correspondent
Malaya and the Dutch East s supply of natural rubber will
start to flow again within a few months, It may return to
its normal volume in not much more than two years.
plantations apparently have not suffered as much war damage as had been feared. The subject is of special interest to the United States,
the world's greatest consum=
er of rubber, whose citizens are clamoring for more and
better tires. It also interests a great many other nations because it is an outstanding example of the | changes which are likely to come | about in post-war international trade relations. The war taught the lesson that no great nation dares to be caught again short of such vital raw mate~ rials as rubber and oil, or tin and other strategic minerals, Development of synthetic rubber played an important part in the allied victory, just as synthetic oil kept Germany in the war longer
than otherwise would have been M
possible.
Now that the war is over, the
dominant powers are certain to puild up adequate stockpiles of those materials which they lack naturally. Their motive will be not so much to prepare for another war ag to make it less likely that
they will be warred upon, because |
of their preparedness. Bargaining Points Such materials therefore will occupy & special position in future
world trade. They will serve as bargaining points in mutual adJustments.
Taking rubber as one commodity |“ of that nature, it is-interesting to note what a change the war has made in its status. It used-to be] ah economic weapon controlled, mainly by the British and Dutch. |
Now it is a three-handed game be- | io
cause of the prodigious develop-| ment of synthetic production by]
able to get into it also, if she finds) it necessary. Rubber, as well as tin, may come
into consideration at the British- |",
United States economic talks in progress in Washington.” Britain controls a considerable share of the duction of both materials at principal source in the Far
All Tt Can Get
tain will be able to Jr as an inducement, not 8. The days are gone ftish-Dutch trade comcan control not only the price of rubber but tell any “nation. how much it< can have, aa by controlling production at the source, British and Dutch rubber men visited American synthetic plants during the war and saw what they could do if any squeese play were attempted on behalf of natural rubber, For the time being, however, the United States wants all the natural rubber it can get. The British and Dutch, being in need of dollar exchange, will find it to their interest to resume full scale production as! rapidly as possible. They will be able to sell it at a good price, without artificial rigging, in such a buyer's market,
Business
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The
9690 PORKERS
Prices Up Slightly for Lambs And Slaughter Ewes.
|
the Indianapolis stockyards today, [the U, 8. agriculture department reported. Prices were unchanged. at the $14.80 ceiling in an active market, Receipts also included 2200 cattle, 800 calves and 1575 sheep. Prices for lambs and slaughter ewes were slightly higher,
GOOD TO CHOICE
120~ 140 pounds .. 140- 160 pounds . 160 pounds up ....
HOGS (3650)
+ $14.00@ 14.80 14.50@ 14.80 14,80
| Medium ~ i 160~ 230 pounds ........... 0.
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CATTLE (200) Choice Rteers 700« 900 pounds .. [email protected] ~1100 pounds + [email protected] 11100-1300 poundss.,. . + [email protected] 1300. 1500 pounds [email protected] Good | 100+ 900 pounds .. «0 [email protected] | 800-1100 péunds .. o 14 8a16.50 1100-1300 pounds .. +s 15,[email protected] 1300-1500 pounds .. sees [email protected] | Medium | 700-1100 pounds ....... rates 12.75@ 15.00 | 1100 1300 pounds Vesasaea ene 13.00915.00 700-1100 pounds . 10.75 13.00 Clioles - 800 pounds cor [email protected] 200. 1000 pounds sens 10,[email protected] Good 60G~ BOO pounds ,....eviiiies i 3312.30 | 800-1000 Pounds ....vveeness @15.50 | Mediume 500- 000 POUNAS coviierirnrns 12.00@ 14.50 omnmo.. = | 800+ 900 pounds ........0ci00 [email protected] Cows (all weights)
11.26013.28 [email protected]
Sutter and common eeaees TY 9.50 ves 5.50@ 6.75 Bu lis (all weights) | Be all weights) Seer a Ns 1200912.50 Bausage--EASE Arana AREER a [email protected] Fr 9.715411.00 | Cutter and common 8.002 9.75 CALVES (800) Vealers (all Weights) { Good and choice « [email protected] Common and medium hr AER 9.50
Cull
8 600- 800 pounds ............ 800-1050 pounds Good
500- 800 pounds ..... + 12.00913.50 800-1050 pounds ..... vs 12.00913.50 Medium ; 800-1050 pounds ,........0,. [email protected] Common. 800-1000 pounds ............ [email protected] CALVES (Steers) Good and choice~ 500- 900 pounds « [email protected] Medium 500 pounds down .... ....,.. [email protected] Heifers Good and choice x S00 pounds down ............ [email protected] odin eb 800 pounds down ............ [email protected] SHEEP (135) Ewes (Shorn) Good and choice ....... « S00@ 6.00 Common and mediam ....... 8.50@ 5.00 Lambs (Spring) Good and choice ...........: 12.50613.38 Medium and good CARE ERE. 11.006 12.25 mm
on
WAGON WHEAT
9 Indianapolis flour mills and grain ele. | VALOrs are paying $1.58 per bushel for No, 1 red wheat iother grades on thoir merits); new oats, No. 2 white or No 2 red testing 30 ibs. or better, 87¢; corn, No. 3 yeliow shelled old crop. $1.14 per bushel, and No. 3 white shelled corn old {crop, $1.28.
Directory
oo |dustries and businesses that
Three-wheeled car above, expected to be rolling off the Los An~ geles assembly line in mass production within three months, not only is a money-saver but is ideal for lazy people. horsepower aircraft engine, it can do 100 miles per hour, get 40 miles per gallon of gas. One pedal controls brake and atcelerator. Built-in jack raises car at touch of push-button for changing tires. Universal Film Star Maria | Montez Is modeling the le car in picture above,
Equipped with a 58-
RECEIVED HERE Mitsubishi Heads Say 80% of
Plants Ruined; U. S. Firms Lose
By WILLIAM McGAFFIN
Times Foreign Correspondent
TOKYO, Sept. 14.—Two top-drawer executives of the fabulous house
aged by American air raids.
different parts of Japan. Likewise, it is twice as high as the estimate given me by executives of Mitsui, another big-time outfit. Concern ing the damage to their industrial regime the Mitsul men said that in their chemical industry, which was one of their main war efforts, only
30 to 40 per cent had been de-
stroyed or damaged. When I expressed doubts Kwanzo Tanaka chairman, Ichiro Hattori, of the Mitsubishi Trading Co, maintained that more air raids
than on any others in Japan.
be. this destruction represents a
for “example,
ital, Westinghouse,
bishi Electrical Engineering Co, said Tanaka. of California owns half of the Mitsubishi Oil Refining Co. Yokohama, which is burned out, he added. Dividends Ready
However, there is a nice pile of many million yen waiting for Amerjean investors, according to Tanaka,
who declared, “we reserved their dividends for them during the war.
completely
? They can get them whiénever they
care to come.” What Mitsubishi planned to do with these American dividends if Japan had won the war he does not say. He counters the question with “But how could we ever have won the war?-—you are so far away.” Mitsubishi is one of the most important commercial houses in Japan which holds a feudal monopoly of such a staggering combine of nm makes American big business look like small time. It has been said if you combined Rockefeller, J. Plerpont Morgan and General Motors and General Electric and Henry Kaiser and Metropolitan Life and Anaconda Copper and the United States Lines, plus coal mines, textiles, public utilities and a few other bigtime lines—you would have something to approximate Mitsubishi, “Did vou buy American scrap iron before the war?” I asked Tanaka as we sat sipping Japanese tea at the long directors’ table in the board room of an undamaged modern building, “We were one of the principal buyers,” he answered.
Want U. 8. Loans
Then at my request, he ticked off soli. © Le war machines into which they had built that American scrap—2Zeroes and Bettys and tanks, for example. Mitsubishi converted more of its factories to war than any of Japan's big business concerns.
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1 asked Tanaka if Mitsubishi had attempted to put its factories underground, He said, “We had started to, but before we could finish the war came to an end.” “Did Japanese industrialists use their influence with the emperor to bring the war to an end while there was still something to salvage?” I asked. Tanaka said that they wished to see the war end for that reason, “but we did not intervene with the
emperor.” Like Mitsui, these gentlemen of Mitsubishi want America to set
them on their feet again. They would prefer to do it through pri-
vate loans, whose responsibility they
would assume, “We think our credit than our government's,” with a smug smile, Defend Pearl Harbor 1 sald, “You must have made a lot of money out of the war.” They said, “How could we, with all the air raid destruction and a 7 per cent limit on profits of heavy industry?” 1 said, “Perhaps you are bankrupt, yes?” They smiled a suave no. We can manage.” Tanaka was dressed in a gray
is better they said
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There were 5650 hogs received at| of Mitsubishi told me in an exclusive interview that they estimated that 80 to 90 per cent of their industrial empire had been destroyed or dam-
This figlire seems exaggerated to me, judging from what I have been able to see with my own eyes of the general bomb damage in
tweed plus-four golf suit. was wearing a neat hlue business suit. Neither obviously had suffered during the war.
were concentrated on their holdings | gestion that it “started” the Whatever the correct figure may heen “pushed into it.”
fair.”
Hattori
I said, “Your greatest obstacle to
getting American help is our fear that you will start another war.”
Both- men put on pious faces and
{expressed amazement that America t0|should think this of them. and | could managing director, they asked.
“How start another war?” “How did you start this
we
they one?” 1 asked
Then they protested at the sugwas Japan that war-—instead it had
In answer to my Pearl Harbor
considerable property loss not only | query, they said, “Why that was to Japanese but to. American cap-| just good strategy.” They: were distressed to read of owns 20 to 30 per cent of the Mitsu- how American papers were ecriticizing a lenient occupation of Japan. And Associated Olll«we think Gen. MacArthur is very Then they irdvoked, of all at | things, the golden rule.
“You will find that if you take
the Japanese as a friend, he will be a friend to you.” This will ,be news to a lot of Americans.
DDT Bug Bombs Available Soon
MANSFIELD, O. Sept. 17 (U. P.) —~DDT bug bombs, which can rid an average small kitchen of roaches within 30 seconds, will be available to civilians in the “near future,” the appliance division of Westinghouse Electric Corp. announced today, The bug bomb aerosol dispensers, used in the armed services to combat malaria and yellow fever in the South Pacific and in the insect-infested areas of other fighting fronts, combines DDT with quick-acting pyrethrum in-
secticide, According to J. H. Ashbaugh, vice president in charge of the division, which during the past three years has supplied the army with 27,000,000 of the pint-sized insecticide dispensers, the bombs differ from other such devices in that they release an aerosol, or fine mist, into the air to kill in
THE INDIANAPOLIS TIMES _ Gets 40 Miles a Gallon
oN =
STATE C. OF C. HAS TAX PLAN
Also Opposes Raise in Social Security Levy.
FT. WAYNE, Ind, Sept. 17 (U. P.) ~The Indiana State Chamber of Commerce hoard of directors asked for a sound tax program at its semiannual -meeting here Saturday and Sunday. Resolutions on federal old age benefit taxation and transportation legislation were approved by the board. The directors said that federal old age and survivors insurance taxes will withdraw some $60,000,000 more annually from Indiana employers and employees beginning Jan. 1 unless action is taken by congress. wees | They urged that congress act. to prevent the scheduled automatic in~ crease from two per cent of payrolls to five per cent. In support of its stand, the chamber cited these reasons: 1. Present rates.of taxation are producing all .the revenue needed currently and for many years to come to finance the old age and survivors insurance program. (Balance in the old age and survivors trust fund on May 31 was $6,528,518,000 and the fund has been growing at the rate of more than $1,000,000,000 a year. The balance is 25 times the present level of annual expenditures.) 2. The scheduled tax rise would reduce purchasing power and increase the cost of products when the challenge of reconversion calls for the greatest possible volume of buying to provide high employment, 3. The federal government continually “borrows” from the trust fund and therefore the fund aetually will always be on a “pay-as-you-go” basis, since the government will have to raise money from taxation to reimburse the fund. 4, The accumulation of unduly large balances encourages unwise “raids” on the fund.
Olive Outlines Program Manager Herschel Hollopeter of the state chamber’s transportation department, presented transportation problems dealing with various legislation now pendipg before congress and outlining a set of principles with respect to governmental administrative agencies and procedures. The resolution urged that the duties and powers of any new adistrative agency be defined by statute, and that members of the agency be appointed on a non-parti-san basis. The directors also said that the qualifications of appointees should be prescribed by statute, and that appointments should be made for a specified term with such terms staggered so as to retain a majority of experienced members in the agency at all times. George 8B. Olive of Indianapolis, first vice president of the state chamber and chairman of the committee on taxation, presented recommendations of the committee for a tax program. The recommendations urged that: Wartime excess profits tax should be repealed; combined normal and surtax rates on corporate net income should be reduced 32 per cent; the two-year net loss carryforward should be extended to five years and two-year net loss carryback should be continued for two years after the war, and when it is . abandoned the carry-forward should be extended to seven years; penalty tax on consolidated return should be eliminated; double taxation on corporate dividends should be discontinued; within the limits of sound accounting, business management should be allowed to exercise its own discretion in choige of
Conner to Join
Local Banks
WILLIAM B. CONNER JR. will resign as executive manager of the Indiana War Finance com-~ mittee after the December drive to become assistant vice president, in charge of correspondent spank and pub~ lie relations activities for the Merchants National = bank and Indiana’ ” Trust Co. of A Indianapolis. Mr. Conner, executive manager since the first of this year, was manager of the war finance committee's financial and banking division previously.’ Formerly manager of the local Paul H. Davis & Co. office, Mr. Conner has been in the investment bankdng and brokerage business 20 years.
HAMMOND OIL STRIKE FEARED
C.1.0. Refinery Union Meets Company Today.
HAMMOND, Ind., Sept. 17 (U. P.). —Company and union negotiators met today in a final effort to stall off a strike scheduled by the International Oil Workers union (C.I1. 0.) in refineries of the Calumet river industrial area. The strike was set for 3 p. m.
flat 30 per cent wage increase. The walkout, if called; would shut off gasoline deliveries to all Chicago filling stations and affect industries and homes heated with fuel oil and petroleum coke. At a meeting of C. I. O. United Oil Workers and other Calumet area C, I. O. locals last night, approximately 5500 workers were alerted for strike action if negotia-~ tions collapsed between the union and officials of the Socony-Vacuum Oil Co., East-Chicago, Ind. In addition to Socony-Vacuum, companies affected would include the Texas Oil Co., Shell Oil Co, Sinclair Oil Corp. and Cities Service Oil Co, all of East Chicago and the Stanolind Pipe Line Co, of Whiting, Ind.
today in support of demands for a |i
: ‘MONDAY, SEPT. 17, 1945
‘FLICKERLESS' LIGHT IS MADE
Elecironic Laboratories Unit For ‘Low-Cycle Current.
. Electronic Laboratories today announced a new flickerless fluorescent lighting system to be used on 25-cycle electric current,
A new conversion unit makes it possible for homes and industries
|signated in the Niagara Falls area,
and in other areas where the electric current is supplied by waterdriven turbines to secure enough voltage to light fluorescent lamps, the local concern said. Twenty-five cycle current gives a pronounced flicker in fluorescent lighting, and the new unit uses a rectifier tube and a voltage doubler circuit eliminating this flicker. Running tests in the Toronto
|laboratories of the Electronic Lab-
oratories show that this new unit is now available for homes and for industries in these areas. Fluorescent lighting is cooler, more efficient, more economical, the firm claimed.
LOCAL ISSUES
Nominal quotations Jusuished by ipdianapolis securities dealers:
STOCKS Agents Pin Corp com...... "ee
‘Bid Asked
ment expenses, the committee said, a favorable tax climate should be provided for small business; government financed enterprises should be taxed on a basis comparable to competing private enterprises; a major part of the federal revenue should be derived from individual income tax with sych rate reduc tions as revenue requirements permit; the tax rate on long capital gains should be adjusted in line with the starting tax rate on individual income, and in the interest of equity the deductions of capital losses should be allowed on the same basis that capital gains are taxed; estate and gift taxes should be reduced substantially; selective excise taxes should be largely continued except where excessive wartime rates have reduced revenue’ the Social Security tax rate should not be increased, and federal, state and local taxation should be coordinated as effectively as possible. The board also praised labor and management in Indiana, and pointed out that there has been less labor stoppages and fewer strikes in the state of Indiana due to labor
a allowed for research and develop-|In
Agents Pin Corp pfd. 20 L 8 Ayres 4%% pid.. dik Ayrshire Col com .... 19 Belt R Stk Yds oom 39 Belt R Stk Yds saesans B3Va Bobbs-Merrill Sa 5 ins ae vo 87% .. Central Soya com ........ vee 39 41 *Circle Theater com.. wees 59 ros *Comwlith Loan 5% . 106% Cons Fin Corp pfd Mn *Delta Electric Som ‘heart ansas 14% 15 Electronic Lab com ......... 4% 5% Ft Wayne & An RR pid. . 03 ies Hook Drug Co com........... 19 20% ome’ IT Ft Wayne 7% pid... 51 . Ind Asso Tel §% P hp 05 = *Ind & Mich E 15% pid... 108 108% *Indpls P & L pid............ 113 114} Indpls P' & L a nada rae 26 AV, Indpls Water pfd...... .105 : *Indpls Water Class A com. . 19% 20% *Indpls Rallways com os 19 FM Jeff Nat Life com. ‘x Kingan & Co pid... . 4 an & Co com : 5% *Lincoln oa Co a pid.... 3 wees Lincoln Nat Life 5 ira PR alley or Puy we 321% P R Mallory com . 31% Mastic Asphalt ... 8 N Ind Pub Serv 5% 110 Pub Serv Ind 5% .. 106% Pub Sery of Ind com sevuarens 22 HY Progress Laundry com........ 17% Ross Gear & Tool com. 27 So Be 8 SEA ra 113 8tokely-Van Camp pr pf 20% Terre Haute Malleable,. “ 3 8 U 8 Machine com........ee0s 3% United Tel CO 5% -eevivrenies wes Union Tile com..........co0nes PT BONDS American Loan 4%: 55........ 98 100 Buhner Fertilizer 5s 54. 98 sans American Loan 4%s 60. 8 100 Ch of Com Bide 4%s 61.. 01 IR Citizens Ind 4%s 61...... 108 we vi bia Clu 4 9 wees 9 “sen 92% Pa “eee Pub ors N Ind Tel 4%s 55............ w Pub Serv of Ind 3%s 73.. .e Pub Tel 4%8 85.........0.0.u. ann Trac Term Corp 5s 67... ..... 97
H J Williamson Inc 5s 55.... *Ex-dividend.
U. S. STATEMENT
WASHINGTON, Sept. 17 (U. P.) ~Government expenses and receipts for the current fiscal year through Sept. 13 compared wtih a year ago Last Year
his Year Expenses. . . $18, 522,118,770 $19,270,966,841 War Spend’'g 15,990,636,573 17,622,119,246 Receipts... .. 6.882,682,017 5,801,399,004 Net Deficit. . 11,639,434,253 13,469,5 7,336 Cash Balance 16,840,841,5890 15,583,208,126 Public Debt. 263,178,288 471 211,254 256,139 Gold Reserve 20,884,820, 580
20,095,960,320 INDIANAPOLIS CLEARING HOUSE
Clearings Debits
LOCAL PRODUCE
(Prices for TA delivery) Heavy breed hens, 32c. Leghorn hens, . Broilers, 5 ers and roosters under § Ib., white barred rocks, 26c. horns A 24¢. All No. 2 pouliry, 4c less.
Old roosters, 17c. gs—Current receipts; 35c; grade A
i" |struments for the fleet.
Meetings
Advertising Club
Myron R. Green, industrial see«
retary of the Indianapolis Cham *
per of Commerce, will discuss “Busi ness Prospects After Reconversion’” at the Indianapolis Advertising club luncheon ‘Thursday at the Indianapolis Athletic club,
| Cost Accountants
Eric L. Kohler of Chicago, fore merly controller of the Tennessee Valley Authority, will discuss “Dis tribution of Overhead” at the Ine dianapolis chapter meeting of the National Association of Cost Age countants at a dinner meeti Wednesday. at the Lincoln hotel.
Foundrymen
A. J. Edgar of Washington, teche nital adviser of the Gray Iron Founders’ Society, will speak at a dinner meeting Oct, 1 of the cene tral Indiana chapter of the Amer ican PFoundrymen’s association ag the Athenaeum. He will discuss methods of correcting waste in foundries.
NAVY TAKES OVER PLANT NEXT WEEK
The navy will take over active management of the naval ordnance plant, Arlington ave, at 21st st, a
"| week from today. Since May, 1943, .|it has been operated by the Lukase ‘| Harold Corp., a Norden subsidiary,
The first naval ordnance plang in the country to be converted to navy control, the plant will build, repair and maintain fire control ine
The ex« perimental . laboratory will eontinue
7 | doing special development and re
search work for the navy bureau of
ba ordnance, Capt. Warren E. Glade - | ding, commanding officer, said.
The plant was originally designed and built for the manyfacture of the famous Norden bombsight, ale though later other fire control ine struments were manufactured, Thousands of bombsights were built which saw service under all fighting
«| fronts. Three army-navy “E” awards
were won. Many of the supervisory officials
.|and key personnel will remain in * | their present position on a civil serve
ice status, Capt, Gladdin gsaid.
INCORPORATIONS
._ Tri-SBquare Sales and Mig, € Bosart, Indianapolis; AEE Toons 2 Smith, Wanamaker: 1200 shares withous Par value; to manufacture and sell autos Hobile; tradier and airplane appliances; erm urgin, Thomas A Ralph B. Humphreys. B Smit,
Diana Shop of Prankfort. Ine., Delaware
**jcorporation; admitted to Indiana to man *{facutre and deal in wearing apparel, .
Pioneer Equitable Petroleum Corp.,
C. 'T. Corporation System, same add:
ress; Bate L Liebreich, Frances J. Stern, Yvotta an
i enn and Zont, Inc, 101 W. Centes , Warsaw; agent, Porter B, Williamson, Se address; 1000 shares preferred of $100 par value and 1000 shares common Bo pat Jalué; genera Jnachine shop busie ess, John W sil L. M. Waltke. oii %o3le Trewe Grant Distributors, Inc., blvd., Marion; agent, 217 E. Grant st., out par value; vinous beverages, etc.; Charles F, Stokes, Ralph Harcuccilli, Philip J. Riley,
Griffith Distributing Corp., Indianapolis; articles accepting provisions of Gener: Corporation Act of 1929; 2000 shares come
637 Lincoln Charles Pr Marion; 250 shares withe
mon and 3000 shares preferred of $100
par value,
Wells County Parm Bureau de
Bluffton: articles accepting provision of agricultural co-operative act of 1925 and changing name to Wells County Farm Bureau, Inc.
E-B Drilling Corp., 700 W, Morris st, Indianapolis; agent, George B. Elliott, same address; 1000 shares of ; to prospect for oil, gas, water, ete.; N, F. Bchaster, Merlin M. Dunbar, Lucien L. Dunba G8. P e agent,
Co., Inc, Harold C. Gaddis,
Fairmount; same address;
. : py 43c; grade A medium, 35c; under | 100 shares without par value; manufacture seconds, flies, lice, roaches and [rates of depreciation. difficulties than in any other state grade, 25¢: pullets, 18c. ing household fixtures, tools, etc.; Harold other bugs. Reasonable deductions should be|in the union. i rR, 1. 800. Buttarfat—No. 1, Phin Harold H. Pratt, Eimer O.
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