Indianapolis Times, Indianapolis, Marion County, 24 October 1945 — Page 12

GE® BUSINESS— :

i HIGH

farmers by Purdue university

INCOMES

ON INDIANA FARMS

Purdue Economists Expect Next Year's Total to Equal or : Surpass Estimate for 1945,

“Indiana net cash farm income for 1946 is expected to equal or surpass the income for 1945. \ That is part of:the prediction given 825 Marion county

agricultural economists R. H.

Bauman and H. S. Morine at a meeting last night in the

Purdue-Marott center, according to County Agent H. E.|

Abbott. Although prices of some a large crop of feed grains in| 1945, most of which will be fed to livestock marketed in| 1945, is expected to raise the volume of 1946 marketings above 1045 levels, the prediction continues,

” » EVEN though prices of farm land may be higher in 1846 than in 1045, ‘considerable caution should pe exercised in buying land, the economists add. Indiana farmers will be in a mich stronger position in regard to feed grain supplies than they were last year. Production of corn and. oats is expected to be 20 per cent higher than in 1944-45. This ~ ghould be sufficient to maintain ‘livestock production at present lev els. Mr. Bauman said that the demand for pork and pork products will probably be sufficient to keep hog prices strong during the marketing vear, Oct. 1, 1945 to Oct. 1, 1948, although some seasonal decline may occur during the heavy marketing months this winter and next summer, Mr. Bauman added that hog production should be especially profitable: for farmers who have their own feed or purchase feed supplies ‘at harvest time, and whose spring pigs are farrowed early enough for marketing at seasonal high prices in the fall of 1046, . n » DESPITE uncertainty regarding price control and subsidies, cattle feeding appears to be a reasonahly ~ safe venture for the coming year, For lamb feeders, profit margins will be favorable but somewhat lower than last year, Mr. Bauman said. Some reduction In feed costs may offsét expected lower prices for dairy products and slightly lower subsidies, according to Mr, Morine. Despite less demand for poultry meats and predicted lower prices for eggs; low-cost producers with available feed, equipment and labor should find the poultry business profitable, Mr, Morine added. At an afternoon meeting yesterday, women representing Marion county homemakers heard Mr. Bauman and Mr, Morine discuss the 1948 outlook for living conditions.

farm products may weaken,

8575 PORKERS REGEIVED HERE

Trading Remains Active and Steady Today.

The 8575 hogs and 600 calves received today at the Indianapolis stockyards sold adtively at steady prices, the U. 8, department of agriculture said, Fed steers and heifers totaled 1500 and sold steady. Sheep amounted to 2400, and fat lambs were weak to 25 cents lower.

GOOD TO CHOICE HOGS (8513) 120- 140 pounds 314.004 14.85 140- 160 pounds C14 504014.88 160 pounds up . 14.88 Medium—

160- 220 pounds erie 13.5Q 14.75 Packing Sows Good to Cholce— 270- 400 pounds eee ies 14.10 edium400- B00 pounds ...veeiiiine 14.05 00d - 250- 860 pounds adh en 12.7561 14.00 Slaughter Pigs Medium’ to Good 90 120 pounds , 11.35%13.7% CATTLE (1500) ! Steers Choice 700+ 900 pounds [email protected]% 900-1100 pounds «0 [email protected] 1100-1300 pounda vo [email protected] 1300-1500 pounds + 17.269 18.00 Good+ 700- 900: potinds 15.256117.00 900-1100 ponds [email protected] 1100-1 pounds 16.00617.25 1300-1500 pounds 16,006117,28 | Medium i 700-1100 pounds .,....000000 13.00@ 15.50 | 1100-1300 pounds +e 13.00% 16.00

Common. 700-1100 pounds

Xa « [email protected] Heifers Chole 3 600- 800 pounds .........,.. [email protected] 800-1100 pounds ....iveiinns 18.284 17.50 Good 800- 800 pounds .....iiiinee 15.004116.25 800-1000 pounds ...casvvinrs 15.00@ 16.25 Medium 500- 900 pounds ....iineieie 12.354. 15.00

mmo 500+ 000 pounds . p 10.000 12.25 Cows (all weights) Good EEO ERE AR coee 11756014.00

Medium Lo. [email protected]

Cutter and common ..,.. 7.25 @10.35 CRORE ii ciaviinvannen 5.500 17.25 Beef — Bulls (all weights)

Good (all weights) Bausage—

Good Medium NEAR AREA Cutter and common . CALVES (600) NYealers (all weights) Good and eholce Caan

12.506413.50

INCE AER RIAA 11.50612.50 . [email protected] 8.00910.00

» » » MR. MORINE told the women that food prices might rise, but more food would be obtainable, and that continued high clothing prices

might be. balanced by improved quality. Household equipment will be

more plentiful, he sald, but large items like stoves and refrigerators will not be available before the last

Common, And medium Cull Feeders and Stocker Cattle and Calves Choloe— Steers 600- #00 pounds 800-1060 pounds Good

cea

13.50@14:73 13.506 15.00

Sarre T RENE

00d 500- 800 pounds

xa ua cerens 12.006013.50 800-1080 pounds .....svanee 12.00 13,50 Medium BOO-1050 pounds ....iv.ianes 10.25@ 12.00 Common--

500-1000 pounds ............ CALVES (Steers) Good and choice

8.75@ 10.26

half of 1946, An attempt will be made to set prices near pre-war levels with some allowances for) increased costs, he added. Considering the probable continuance of high building costs, construction and major improvements, though planned now, should be de- | layed until quality material is avail-

able, he sald.

AYRESHIRE REPORTS Ayreshire Collieries Corp. today reported a net income for the fiscal

year ended June 30, 1945, of $489, - |

195. The consolidated income,

which includes wholly owned subsidiaries, amounted to $608,023.

MERRILL LYNCH

Underwriters a7

Brokers 317 Ci

tors

whether 1 ‘gorn future

d Distribut

Telephooe!

Finally, sonal guteres

COURT STUDIES

Of California.

| The U. 8. government's suit

study by the supreme court. The court took the first

to file a reply by Dec. 28, California

complaint, Legislation Begun After the California answer is received, the, court probably will decide to go ahead and hear the suit or to hold that the government lacks a cause of action against the state. Legislation to relinquish federal claims to the tidelands already has been passed by the house and is now before the senate judiciary committee, Attorney General Tom C. Clark filed the government's complaint against California last Friday, It was brough as an original suit in the supreme court in order to save the time needed to bring it up through lower courts.

Leased to Firms

The complaint asked for title to lands under what is known as the “marginal sea,” ‘beginning at the low-water mark and reaching out to the three-mile limit. Bays, harbors, rivers or inland waters of California or tidelands are not involved, the government said, Clark's complaint contended that California never possessed a “propletary” interest in the “marginal sea” lands and therefore it had ne authority to grant leases for the removal of ‘oil or other materials. California, since 1921, has been leasing the lands to oil companies for the purpose of working rich petroleum, gas and mineral de. posits found on the Pacific ocean bed. :

BIG CAPITAL SEEN BY JACK & HEINTZ

CLEVELAND, Oct. 24 (U. P).— | William 8. Jack, president of the | war-born Jack & Heintz, Inc. today had assured his “associates” that Jahco would have a capital of $50,000,000 after reorganization and was prepared to start on the production of “new and revolutionary” products. ! At a dinner last night, Jack told 1000 employees that the company undoubtedly would be rolling Jahco automobiles off the assembly lines in 1047. He also said that a new type refrigerator employing hot water as the cooling agent, will be produced in 1046, Jack also revealed that a new engine had been developed which, in laboratory tests, had made nonstop trips around the world at 75 miles an hour. Other products to be produced by the company include electric motors and electronic gauges. He sald that after the reorgani-

OIL TITLE GASE

WASHINGTON, Oct. 24. (U,P)— to | establish ownership to oil-bearing lands off the coast of California today was undergoing preliminary

step Monday when it granted ‘he government permission to file its complaint and, at the same time directed California, if it so wishes,

is expected to ask dismissal of the =

New Con

shown at International Harvester 11. The new construction allows level plowing.

THE INDIANAPOLIS TIMES

tour Plow .

Land is about completed

Designed to aid soil conservation by making contour and strip farming easier, this two-way two-furrow, direct-connected plow is

's experimental farm at Hinsdale, greater facility on hillsidé and in

A&P PRESIDENT IS LAST WITNESS

DANVILLE, Ill, Oct, 24 (U, P.. ~The long anti-trust trial of the Great Atlantic & Pacific Tea Co. neared the closing stages today after John A. Hartford, president of A. & P., testified as the final defense witness, Hartford said yesterday that he and his brother, George, had controlling stock in the grocery concern “but we don’t use it.” The government has charged the A. & P. and 28 of its subsidiaries and officials with violating antitrust laws. Hartford told Federal Judge Wil~ ter C. Lindley that the A, & Pfs growth to the nation’s leading food chain was due to a rigid adherence to the belief that it was better to sell 200 pounds of butter at one cent per pound profit than to sell 100 pounds at two cents, Under defense questioning, Hart ford outlined the company's history since its inception in 1859 with the purchase of a shipload of fea. Hartford presented a brief summary of the chain's organization's establishment of regular stores, its development into economy cash and carry stores, combination stores and, finally, super markets, Hartford said that since 1025, when a decentyalization order was {put into effect, the company's gen(eral policies had been determined {by divisional presidents. A. & P. operations follow a genferal pattern, Hartford. testified. { The pattern, he said, was based on experience which had proven that |law=gross profit rates resulted in a {higher volume of sales, which in |turn, meant lower expense rates. Hartford was questioned about {government charges that the A. & {P. had allowed certain stores to | operate in the red in order to elim{inate ‘competition. He answered that the A. & P. stores never were operated at loss intentionally.

LOCAL ISSUES

Nominal quotations furnished by Indianapolis securities dealers; 5

STOCKS Bid Asked Agents Pin Corp eom ....evoe TV “s Agents Fin Corp pfd ... . 19 20 [18 Ayres 412% pid .... 06 Ayrshire Col COM ...uvavnvss 2G UY R Stk Yds com ....ovuse 7

| Belt | Belt R Stk Yds pfd .

500- 900 pounds ,. . 14.50@18 Sonim Bion BE 34 os: 100 pounds 1 [email protected]| sation, the associates would be able Bobba-Merrill 41%: pid ,..... } LE 300 pounds down ........... 12,00014 50 | to purchase common stock, the only | Central a a eet a Heifers [type to be issue J . ,| Circle Theater com .... . Good and cholce-~ {ype sued. ahco recently} cto ih Loan 83% Pf veseens. 104%, pi 50G pounds down ..... . 14.00q 1650 purchased the outstanding sStock| Cons Fin Corp pd. ...ooee... 97% Medium he , y { Delite Electric OM vvsryssors 183 500 pounds down . ‘ 11.7540 14.00 4 by in employees. | Electronic Lab com Haigh TS SHEEP (2400) A Wayne & Jackson RR pid 9', ! erfl-Jones Co ¢l A pf . ow. P Ewes (Shorn) ; U. S STATEMENT | Hook Drug Co com ¥ Good and cholee 5.50640 6.50 | Hor IT Ft W ne Common and medium 4.006; 5.50 | a Asso Tel 5% pie : pe Lambs WASHINGTON, Oct. 24 (U. P).~Gov-| Ind & Mich E At s pid . | Choice and closely sorted .... 15.00 | ernment expenses and receipts for the Indpls P & L pid .......ooo..

Good and choice

Medium and good .,.. 12.5041 14.00 Common i 10.00612.28 TRUCK WHEAT

\ Indianapolis flour mills and grain ele vators are paying $1.60 per bushel for No. | red wheat (other grades on their | merits); oats, No hite or No. 1 red | testing .34 Ibs. or better, 6le¢. corn, No. 2 yellow shelled, 81.12 per bushel, and No, 2 white shelled corn, $1.31.

NNER & PIERCE, FENNER ors of Invest ities and Comm pi Indianapolis A, Ind.

Market 8391

ment Securt oditied i

rele Tower,

Qctober

and Traders

r prog or lis

oda ise, 1'd be

you may in Wh r B

8» sincerely

ram

. 14.284 14.78 | current fiscal year through Oet, 22, com-| Indpls P & L com

| pared with a year ago | This Year Expenses War Sp'nding 22,414,811, 411 Receipts . 13,6560,076,.196 Net Deficit. 13,823, 681,766 {Cash Balance 13,576,980,150 | Public Debt. 262,072 624,083 {Gold Reserve 20,038,710,848 | INDIANAPOLIS CLEARING HOUSE Clearing» . sous inne sey 3 5.808, 00 Debits

Last Year

26,840,356,00

BEANE

tied

24, 1949

1ace at to Pin the

envisage . rities »

ecu ted © gos YOU:

glad to

yours ’

$26.482.760,962 § 20 816 318.8541 Indpls Ratlways com 1 12 028,632,376 | "Kingan & Co pid 17,587,883,176 | Kingan & Co com 11,414,570,767 211,416,760,149 | Lincoln Nat Lif 20,127,369,397 | P R Mallory pid oo...

| Tadnis Water pfd ..... v "Indpls Water Class A com ... 2

Jeff Nat Life com

{ Lincoln Loan Co §'% pid...

oid .iainin 35 mn | P R Mallory com reenes 3B 36 | Marmon-Herrington com .... 10% 11% | Mastic Asphalt 10%,

vearnnes Bn

large, B large, 40c; "120

Meetings

Scientechers “Anti-Submarine Warfare” wil} be described by Carl W. Springer, Lukas-Harold Corp. engineer and former member of the navy bureau of ships, at the luncheon meeting of the Scientech club of Indianapolis Monday in parlor “B” of the Claypool hotel,

Confrollers Edwin. E. McConnell, national president of the Controllers Institute of America, will discuss “Today’s Problems of Controllers” at the dinner meeting of the Indianapolis Control tonight at the Lincoln hotel. “Job Evaluation and Merit Rating” will be the topic of W. E. Gelhard, Chicago personnell services division manager of Ernst & Ernst. :

500 EXPECTED AT

More than 500 members and guests are expected to attend the 28th annual Indiana Dairy Prod-

ets Association, Ine., convention to {be held at Prench Lick next month,

C. C. Hadley, executive secretary, {said today. The three-day meeting in the {French Lick Springs hotel will be{gin Nov. 12. The five National Dairy {council units of Indiana and the American Dairy association of Indiana will present exhibits of their work, A golf tournament will ge held {the first afternoon, and a floor show | ul be presented that night. A | concert by the Indiana university {Men's Glee club will be presented {at the banquet on Nov, 13.

LOCAL PRODUCE

(Prices for plant delivery)

Heavy breed hens, 22c. Leghorn hens, 20c. Broilers, fryers and roasters bs., white and barred rocks, 23 Leghorn springers, 2lc. All No. 2 poultry, 4c less. Old roosters, 16ec, Eggs—~Current receipts, 38c; grade A 49c; grade A medium, 43c; grade under grade, 25¢; pullets,

under 5 6

ec. Butter

= No. 1, 50c. Butterfat = No. 1, 40c: 2, 36e.

No.

Ham R. Bartlett, N. C. Klein Kentucky Avenue Parking Garage Co Ine. 30 Kentucky ave Indianapolis agent, John Elmore, same address; sel, John Elmore Vinson's Inc, 100 jagent, PF. M. Condit

N. 2d at 414 Hulman bldg.

| Evansville: 1000 shares of $10 par value; |

{dealing In hardware, building materials, ete.; Forrest M, Condit, Elsie Scott, Oma |

Maidiow BA tt heist evista

AA ——

YOUR SAVINGS

INSURED Up to $5,000

By Agency of U. 8. Govt, We Have Been Serving

: 1887 Buy Victory Bonds oy and Stamps

UNION FEDERAL SAVINGS AND LOAN ASS'N 160 E. Market LIM

N Ind Pub, Sefv 5% .. Pub Berv of Ind 5%.. Pub Serv of Ind com, Progress Laundry com 18 Ross Gear & Tool com . 28 { *Bo Ind G & B 48° 110 112% Stokely-Van Camp pr pf 200%, 21% Stokely-Van Camp com....... 22; 2 Terre Haute Malleable 7 8% U 8 Machine com ese United Tel Oo. 5% Union Tire com BONDS American Loan 4'3 58....... 9% 100 Buhner Pertilizer 58 54....... 92 | American Loan 4's 60. ...... 8 100 | Ch of Com Bldg 4'4s 61,..,... 91 . Citizens Ind Tel 444s 61...... 103 . Columbia Club 1'%s 8s ...... mm i Consol Fin 8s 56 90 PU | Ind Asso Tel Co 4's 70 108 | Indpls P & L 3'%s 70 a 107 Indpls Railways Oo 5s §7..... 01 0M Indpls Water Co 1%s 68 ....107'% ,en Kuhner Packing Co 4s 54 100 N Ind Pub Serv 3s 73 104 | N Ind Tel 4'ax 58 vies BB vans | Pub Sery of Ind 3's 7 10604 * | Pub Tel 458 88 ... .....covvns 00 Trae Term Corp 5s 67 Mey 90 H J Williamson Ine 3s 58 08 ‘ Merchants Distributing Co., Ine, 321% N. Michigan st, ‘South Bend: agent, Joseph J. Nometh, 120 N. Jackson st, { South Rend; 1000 shares no par value; candy manufacturing business; J. J, Noe | | meth, BE. Burkhalter, W. D. Egly. | Lake Shore Construction Co. Ine, | | Michigan Shores, Michigan City; agent, William R. Bartlett, same address; 1000 | shares no par value, C. L

Mathias, Wil- |

10 shares no par value; C, Kissel, M. L. Kis |

i Vincennes; |

tia iscsi i

INDIANAPOLIS Since |

oo}

DAIRY CONVENTION!

| Complete Outfit—Nothing More to Buy!

[MILD WEATHER

AIDS FARMERS

Wheat Sowing Advances And Early Grains Up.

Hoosier farmers took advantage of last week's mild weather and above-average temperatures to proceed with autumn work, the Indianapolis weather bureau's week-

{ly crop bulletin sald toaay.

Wheat sowing advanced rapidly in some districts, the report said, and many fields of early sown grains are up to good stands. Corn Crop Good Corn is mostly drying satisfactorily, large quantities of the early crop have been cut and shocked and some is being picked for feed. Unusually large yields are reported. A small part of the late corn is still soft and subject to freeze damage. The combining of mostly good soybean ylelds is about half finished, the bureau said, and good progress has heen made in harvesting potatoes, onions and carrots, in distilling mint, in gathering apples and pears and in filling silos, Pastures and clover continue very good for the time of year, according to the report.

U.S. Has Huge

financial record-keeping on its bond

The total face value is more than 55 billion dollars. ? The war was fought with aid of science and machines, And the record-keeping on bonds has been a gigantic job in which intricate machines toss off miracles of accounting science. Seven thousand workers have been doing the job, and most of them are fresh-faced girls just out of high school, hailing from a half dozen states. Names Are Holes The names of the millions of other Americans who bought bonds have been translated into minute holes on record cards in key punching machines. The cards have been filed in alphabetical order by other machines in a vast assembly line process. Donald M. Merritt, acting deputy commissioner of the treasury’s bureau of the public debt, in charge of the work here, has an apt comparison to show the volume of the | task,

BROKERAGE OFFICE CHANGES QUARTERS

To meet the demands of a growing interest in securities the local office of Merrill Lynch, Pierce, Fenner & Beane, New York Stock Exchange brokerage firm, has moved to new and expanded quarters at 317 Circle Tower building, O. J. Holder, local manager, said today. Predicting a bright future for the Indianapolis region, Mr, Holder pointed out that the city is the center of a great industrial region as well as in the middle of an imortant commodity producing area. “There are many industries which have their head offices as well as their plants in or near Indianapolis,” Mr. Holder said, “which further enhances the probability of increased interest in investment locally since many of these com- | panies are listed on the New York Stock Exchange or one of the other exchanges, or are traded in the unlisted market.” Mr. Holder said the office moved from the smaller location in the Fletcher Trust building and increased its personnel in order to furnish more complete service and | additional facilities for its custom- | ers, The newly redecorated quarters include offices for manager, cashier, reference and library room and a large “board” room... They occupy more than 2500 square feet of floor

space. Besides ‘Mr. Holder, the local branch includes Joseph A. Shea,

Neil C. Estabrook, Raymond Neal and Mrs. Ethel M. Dunham, account executives. Merrill Lynch, Pierce, Fenner & Bean holds memberships in all of the nation’s leading stock, grain land commodity exchanges. The

| largest brokerage firm in the coun-

ERSATZ CAFFEINE PLANT IS PLANNED

8ST. LOUIS, Mo., Oct. 24 (U, P.). ~The world’s first large-scale plant for the manufacture of synethetic caffeine will be erected in St. Louis by the Monsanto Chemical Co. at. a cost of $1,500,000. : The process to be used, whereby the synthetic material *is derived from atmospheric nitrogen and hydrogen from water, was developed by Monsanto's own research chemists,

UNDERSECRETARY

Joh B. Hutson, undersecretary of agriculture and director of the newly created production and marketing administration dealing with postwar agriculture problems, will come to Indianapolis to speak at the annual Farm Bureau convention Nov. 15, More than 4000 Hoosier farmers are expected to be in Indianapolis to hear the nationally known expert and to attend the 27th annual Farm Bureau parley Nov. 15 and 16. Mr. Hutson, a former Kentucky tobacco farmer, will discuss “Agriculture Faces the Future” as he speaks at the Murat theater at the opening lecture session.’ From time to time Mr. Hutson has been engaged in foreign agricultural service in Europe, and has held posts as assistant administrator of the AAA, president of the commodity credit corporation and director of food production in war {food administration. ;

FRIGIDAIRES AVAILABLE Frigidaires are available now for civilian use and are on display at authorized Frigidaire dealers, the Refrigerating Equipment Co., Frigidaire distributors in Indiana, 931 N. Meridian st., announced today. The refrigerators have been in production for some time but were not

WEDNESDAY, OCT. 24, 1945

Job Recording

$55,000,000,000 of Bond Sales

CHICAGO, Oct, 24 (CDN).—Now it can be told how the United States, which fought the biggest war, is doing the world's biggest job of

sales,

In Chicago, the treasury department keeps the records of nearly a billion bonds sold since 1935—savings, defense and war bonds. They occupy a million square feet in three buildings.

It is like filling a serial number and a name for every $1 bill in circulation, : There are 995,000,000 $1 bills, There are records of serial number and name for 925,000,000 bonds of the series E issue alone. The transfer of the bond record job from Washington to Chicago was begun in early 1942 by Eugene W. Sloan, executive director of the war savings staff,

Some Farmed Out

As the Victory loan was getting under way, he resigned oni Sept. 1 to rest after 10 years of bonds. The record job grew and grew, Today the work fills 500,000 sqfiare feet on nine floors of the Merchandise Mart, 300,000 square feet in the Furniture Mart jammed with filing cabinets. It was found necessary to farm out some of the work to Danville, Ill, where other machines are at work, A principal purpose of all this work is protection for the individual bond buyer of his investment in the dollars that bought the bullets for War. Every bond record card or “stub” can be traced by number or name of owner. Check Stamps

Some staggering figures show how Uncle Sam does a big job. In Chicago are the records, on cards or transferred to microfilny,

of 925 million E bonds; the original stubs of 17 million bonds of series A to D; 4 million series F'; 8,500,000 series G. The record stubs come in at the rate of a million a day. War stamp albums come -in at about 2 million a month, and every stamp in every album is examined for cancellation—for they are as good as cash if not canceled. All’ redeemed, re-issued spoiled bonds are filed, Re-issuing, in exchange for orige inal bonds, is a huge business, Ths file of these three groups of bonds themselves totals 200 million. A major part of the file is the microfilm, or photos, of the record of E bonds. After filming, the E bond stubs are sold to paper mills, as are the canceled stamp albums,

and

available to the public because of

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+ D. H. Denlinger

H. K. McIlroy of Dr. Roy Angress rectors, and Dr, Connersville, Indi tor of the N. C. A Mrs. C. B. Elli was elected presic auxiliary Mrs. D, H. Den] as vice president; of Martinsville, ses Kaiser of Conne Dr. Esta Finley counselor, and M of Intianapolis, 2 Fund for The Chiroprac Foundation has $260,000 of its nm set up a year s maintain researc equip college labor O. Logic, vice | foundation, annot The million-doll professional ranks it has been attair will ‘be made to larger sum. for t hospitals, clinics & The woman's association voted in the D. D. Paln pital which is be: ver Colo. The election of three-day conven

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