Indianapolis Times, Indianapolis, Marion County, 31 October 1945 — Page 17
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BUSINESS—
- ALUMINUM PLANTS ARE U.S. HEADACHE
Government Wants to Make 52 Federal-Owned Firms
Competition for Alcoa,
By ROBERT TAYLOR Scripps-Howard Staff Writer
Oct. 31.—The government's surplus property disposal program is meeting its hardest test in the marketing of $700 million worth of wartime aluminum plants, representing more than half the U. S. capacity to
WASHINGTON,
produce the metal.
» The question is how to dispose of the 52 plants in 21
states in a way that will put competitors in the field against the huge Aluminum
Corp. of America. Three government agencies—the surplus property administration, the Reconstruction Finance Corp, which owns the plants, and the department of justice, which wants to divide Alcoa into competing units—have wrestled with the problem. ” » 8 THE COURTS had their say—in a decision of the Second U. 8. Circuit Court of Appeals which upheld a decision that Alcoa is a monopoly. The court is waitigg to see what the government does with its plants before deciding what to do about Alcoa. Three senate committees—on surplus property, small business and
industrial reorganization — sought;
the answer to the problem. Thus far, they haven't found it. The committees have until Nov. 21
to figure out some way of disposing | Med of the plants according to the pur-|Geod—
poses of the surplus property law— to promote competition and full employment. If no new policy is developed by that date, it’s the surplus property administrator's problem. » » » THE ADMINISTRATOR, W. Stuart Symington, has an-
notinced a tentative policy giving|S
priority to prospective competitors of Alcoa, and aiding such competitors. He outlined the obstacles, however, and asked congress for another policy directive. Unless the courts reorganize Alcoa, he said, congress will have to consider whether to leave the industry as it is or put the government into the industry, either by direct operation or a subsidy to competitors. ‘Meanwhile, Alcoa's lease on gov-
ernment ' plants—the companyj.
turned out 90 per cent of the wartime production—has been cancelled. The surplus property administration ordered that step to aid in sale or lease of the properties. " 8 o NO RUSH of buyers developed, Seven companies expressed interest; three of them, including Alcosa, disgussed possible leasing of some plants in Arkansas and Washington. Two of the plants for leasing were conditional on cheap power and other factors. Alcoa's offer to buy or lease some of the government plants hasn't been considered. RFC and SPA
said the attorney general told them |C
not to sell to Alcoa. The attorney general said the final court decision in the Alcoa monopoly case made |
it necessary to get court approval ‘m
for any sale to Alcoa. Government spokesmen said oth- | er bidders fear Alcoa's dominate | position, available: bauxite supplies | in the U. 8. are limited, a large | stockpile of aluminum hangs over | the market, and cheap power must, be available to match Alcoa’s pow- |
er sources.
Some senate witnesses said U. 8. Medium and good
tariffs would prevent use of foreign ores.
LINE WANTS TO ADD | SEATTLE TO ROUTE
WASHINGTON, Oct. 31 (U, P..! ~Seth W. Richardson, attorney for | 4 Northwest Airlinés, had asked the | civil aeronautics board today to] include Seattle in a new North Pa-
cific air route. Wo “Our thesis is that the North Pacific requires a single route operated by a single carrier, with coterminals in both Seattle and the|n Eastern U. 8.” Richardson said. “It is impossivle to say which ter minal is the more important.” CAB examiners have recommended a route for the Northwest from co-terminals at New York and Chicago through Edmonton, Canada, Anchorage, Alaska, and to the| Orient. to Manila, asked the board to include Seattle |
as another terminal point on the py
proposed line, .
U. S. STATEMENT
WASHINGTON, Oct. 31 (U. P.) —Government expenses and receipts . for the | current fiscal year through Oct. 29 com. pared with a year ago
is Year Last Year Expens $27,082,495, 401 31, 432,128,100 War Spend’ ' 3 174,827,607 8,606,810,378 Rec Receipts 3,220,472,500 1 420,011,790 Net eficit , H 123, 019,900 1,196,308 Cash B 2.807,14 23 10,293,936, 686 Public Debt 261,065, 211,644,678,368 Gold Reserve 20,037, 037.016, 530 726,500,930
INDIANAPOLIS CLE CLEARING G HOUSE
WEDNESDAY, OCT. 81, 1943
Northwest has | 4
but Buyers Are Few.
5825 PORKERS
RECEIVED HERE
Sales Remain Active, Steady at Yards Today.
The 5825 hogs received at the Indianapolis stockyards today sold
actively at firm prices, the U. 8. agriculture department said. The 1200 cattle sold at steady prices, and the 525 calves sained
up to 50 cents. Sheep totaled 1925 and eo steady.
GOOD TO CHOICE HOGS (5825)
120- 140 pounds .........0n 214.009 14.85 140- 160 pounds .........es. [email protected] 160 pounds UP .i..iovnrennne 4.85 edium-— 160- 220 pounds ..........., [email protected] Packing Sows to Choice 270- 400 pounds ....cininoan 14.10 TY) 400- 500 pounds ......ecc00n 14.05 250- 550 pounds ........... 12.75@ 14.00 Staughter Pigs Medium to Good— 90- 120 pounds ....... . [email protected] ® CATTLE (1200) Steers Chofce700~ 500 pounds ... [email protected] 900-1100 ‘pounds ... ... [email protected] 1100-1300 pounds ... . [email protected] 1300-1500 pounds 17.25@18 05 00d 700- 900 pounds 15.25M17.00 900-1100 pounds ... [email protected] 1100-1300 pounds . . 18,[email protected] 1300-1500 pounds [email protected] Medium-— 700-1100 pounds [email protected] 1100-1300 pounds ... . [email protected] Common — 700-1100 pounds [email protected] Heifers Choice— 600- 800 pounds ...........: 16.25@®17.50 800-1100 pounds ......o.vi0e [email protected] Good— 600- 800 pounds .......e.ven [email protected] 800-1100 pounds .......esen. [email protected] Medium — ~ 800 pounds ....eeiianes [email protected] Common-— 900 pounds ............ [email protected]
Cows (all weights)
OE wey an en ak rns . [email protected] Medium verseines 10.25@1LTS Cutter and common ......... [email protected] CRNNBE: ...iiivlas ass ssris somes 5.50@ 7.26 Beef Bulls (all weights) Good (all weights) ........... [email protected] Sausage—— Good .......crcriisenrariien [email protected] Medium ©... li vader [email protected] Cutter and common ........ [email protected] CALVES (525) Vealers (all weights) Good and choice ............ 35 00@11 Common and medium ....... 0.00@15. 30 Cull .ivnanvnrs qoriatenssnnins 16.00 10.00 Feeders and Stocker Cattle and Calves Choice— Steers 600- 800 pounds ..........es 13.50@14. 20-1060 POURAE tvasrrrniiin 13. 20G15.00 | 00d 500-800 pounds ......eevene 132. S03. 50 800-1050 pounds ........ seve [email protected]! Medium— 800-1050 pounds ..........s. [email protected] ommeon-— 500-1000 pounds ............ [email protected] CALVES (Steers) Good and choice { 300- 9200 pounds ............ [email protected] ium— 300 pounds down ........... [email protected] | "Heifers Guod and choice— 0 pounds ‘down ........... [email protected] | Madi 0 pounds down ........... [email protected] SHEEP (1025) Ewes Sharm) | Good and choice . ‘ . 550@ 6.50 Common and medium rae 4.00@ 5.50 Lambs Choice and tlosely sorted . 14.78 Good and choice ............ [email protected]¢ vit oie Annas [email protected] Nominal quotations furnished by Indi- | anapolis securities dealers: STOCKS Bid Asked | Agents Pin Corp com ........ Va a din | Agents Fin Corp pia ae 20 [L 8 Ayres ase pid . Ayrshire Col com ..... 2» Belt R Stk Yds com
Belt R Stk Yds pid . | Bobbs-Merrill 42% ptd Bobbs-Merrill com .
a
Delta Electric sou Electronic Lab com ......... 5% Ft Wayne & Jackson RR ya "Wh Herfl-Jones Co el A pf
Arienntaas
Hook Co com .... or Home IT Wayne hg pid . 51 Ind & Mich Elec 4% % pid ve 107% Indpls P & L pfd ........... 111% Indpls P & L com ....,..... 28, Indpis Water ptd ....... «+. 108 *Ind 0 Water Class A com... 20 Indpls Ratlways com ......... Jeff Nat Life com
*Kingan & Co id Kingan & Co Lincoln Loan Co § Sth pd *Lincoln ‘Nat Life com
“Eves a
Bubner Fertilizer 5» 54.. American Loan 4 00..
~ AMERICAN | nariovaL BANK
AT Juniauasous
PR Mallory pfd ......ccvcun R Mallory com ,...... 4h Marmon-Herrington com 11% Mastic Asphalt ......... 10% | N- Ind Pub Serv 8% .... ius. 110% | b Serv of Ind 8% senaee ans 08 07 | Pub Sery of Ind com .... 38Y | Progress Laundry com ....... 5s Gear & Tool 3 30 *S8o Ind G & B 4.8% pid ..... 110% 112% Stokely-Van Camp pr pf ..... 21 22 Stokely-Van Camp com ...... 23% MY Terre Haute Malieable 8 8% U 8 Machine com ..... | United Tel Oo 8%... Union Tire com ~ American Loan 4% 55.. 28 100
: THE INDIANAPOLIS TIMES £ “* First Nash Rolls OH Assembly Line Pi
- PAGE 1m
FARMERS USE Sees 10 to 15% Drop in Farm Incomes From Peak of 1945
WASHINGTON, Oct. 31 (U. P)—The agriculture department toe day predicted a break of 10 to 15 per cent in farm eamings next year
FINE : WEATHER
| |
Plowing and nd Wheat Sowing,
Make Progress.
Indiana farmers continued to| take advantage of dry, sunny veo ther last week for plowing and | wheat sowing, the Indianapolis | weather bureau reported today. The wheat crop was reported up to good stands, and other winter grains and late-sown grass and clovers are also doing well, Soybeans Good Soybean combining continued with fair to good yields reported. There was some corn picking and husking for immediate use, with very little for cribbing. Late corn is high in moisture and much will not be fit for cribbing and is now being fed, the bureau said. The weather was favorable for threshing clover seed, filling silos,
The first Nash passenger car produced since January, 1942, came off the production line last Satur- ‘ALLISON ENGINEER
day at the firm's final assembly plant in Kenosha, Wis. expected at dealer meetings in November,
The first public showings of the 1946 cars are
U, S. STEEL CORP,
NEW YORK," Oct. 31 (U. P.).— The U. 8S. Steel Corp. operations this week snapped back from the
strike, ! Chairman Irving S. Olds reported | that operations this week were scheduled at 70 per cent of capac- | ity. The average during the third] quarter was TT per cent. Last week, because of the coal strike, the corporation operated at 51.9 per cent of capacity, a new low for any full week since 1938. When the war against Japan ended, operations amounted to only 48 per cent, but that was because of the twoday holiday in celebration of V-J day. Strikes so far this year, the chalrman disclosed, have cost the corporation some 2,300,000 tons of coal and 2,000,000 tons of steel. Olds had no comment on the current labor situation. The corporation last week rejected C. I. O. union demands for a flat $2- -a-day wage increase,
PURCHASING AGENTS GROUP MEETS HERE
The district council meeting of the fourth district of the National | Association of Purchasing Agents 0! Will convene at 9:30 a. m. Friday a at the Columbia club, the local group said today.
‘With Soldiers Home, Railroad's « mane, wi me: me ne sue
PRODUCTION RISES Will Fight for U. S. Passengers
By SANDOR S. KLEIN
United Press Staff Correspondent
PHILADELPHIA, Oct. 31 (U. P.).—America's war-burdened railroads | | practical seven-year low of last week but still are going to come out slugging for passenger business as soon as they | ran below normal because of ef-|ntinish the job of carrying our fighting men home, fects of the recently-settled coal figuring on getting that task pretty well completed by next July.
Railroad men are |
{ harvesting potatoes and tomatoes. i Clovers and pastures are reported Sood.
T0 TEACH CLASSES
from the record high levels of 1946.
In a forecast of farm income in 1946, the department said that overall earnings probably will decline $2,200,000,000 and income after | taxes and expenses by $1,850,000,000. Nevertheless, farm income still
PAGKARD TO BUILD
BIG MARINE ENGINES
DETROIT, Oct. 31 (U. P.).—The Packard Motor Car Co. will remain in the marine engine business, George T. Christopher, president,
announced today in disclosing that his company had in production just before Japan's surrender a newtype PT-boat engine 50 per cent more powerful than those which evacuated Gen. Douglas MacArthur from the Philippines. “These powerful engines, coupled with other improvements, would have enabled the PT boats, which had gained fame for hit-and-run tactics, to stay there and really slug it out,” Christopher sald. “They undoubtedly would have played a key role in the final invasion of the Japanese mainland.” Concerning Packard's marine engine business, Christopher said that in addition to filling any future navy contracts, the company would produce adaptations of the glant engine for civilian use. He explained
in a 16-week course in refrigeration
engineering tomorrow night at the | {duce more horsepower than an en-|
Purdue-Marott agriculture center. The course will interpret the prin{ciples of refrigeration in terms of applications, and will in{elude discussions on refrigeration {charts refrigeration by sensible
Faced with increasing competition from air and highway transpor- heat process, by sublimation and tation, the railroads plan to come up with a lot of * 'SWeetening” in order melting; by melting mixtures and
to attract trade. Railway equipment builders are ready to supply the carriers with facilities they'll need to do this. |
Ban to Lift in March This was the broad picture of the
PURDUE APPOINTS
DR. H. R. ALBRECH
Times Special
LAFAYETTE, Ind, Oect. 31.—-Dr. iH. R. Albrecht has been named as-!
raifroad’s reconversion program giant chief of the agronomy degiven by spokesmen for the indus- | partment of the Purdue university Case School of Applied Science, and
try to a group of 16 writers, now | on the final leg of a month-long, nationwide tour to learn how industry was reconverting. The trip was arranged by the National Association of Manufacturers. Of more immediate interest to travel-starved Americans was the disclosure by Robert 8. Henry, assistant to the president of the American Association of Railroads, that the ban on sleepers for trips under 450 miles probably will be Ufted by mid-March. - Henry said that with the expected easing up of military transportation requirements after the first of the year, the office of defense
transportation was expected to re-|,
duce the ban distance to 400 miles on January 15; to 350 miles on Feb. 15 and to eliminate the restrictions altogether a month later.
Engines to Go 100 M. P. H.
The fourth district is made up si of associations in Indiana and Michigan, whose presidents will | formulate policies for the coming | Loc year at the meeting.
'AMERICAN AIRLINES FREED OF CONTROL.
WASHINGTON, Oct. 31 (U, P.).—| The civil aeronautics board today ordered Aviation Corp to divest {itself of control of American Air-| lines, Inc., before July 31, 1046. The CAB ordered Aviation Corp. to reduce its ownership of American | Airlines voting stock to an amount | {not greater than 4 per @et\of the! | total outstanding.
LOCAL PRODUCE
(Prices for plant delivery) breed hata, 22e,
} f
Heavy
, fryers and foasters under § ., white and Satred rocks, 23c. Leghorn springers, 2 All No. 2 poultry, “ less. Old roosters, 16c Eggs—Current receipts,
38c; zrade A
.e B To 49c; grade A medium, 43c; grade arge, 40c;
under grade, 25¢; Puliets,
ET sr Ro 1, 50c. Butterfat — No. 1
FUR COATS
aest Selection the State
TIT EY
12 East WASHINGTON 1
iy Gili, £ By
(Authorized “Keepsake
| 103 N. ILLINOIS {i
i. OPPOSite Torminat Station
ALTE | 141 W. Wash. St.
| As A. R, the Edward G. Budd Man-
| available to railroads, providing for | greater comfort for both night and | day travel. In one type, each seat
From talks with officials of the jafas ing Co, and the Baldwin otive Works, the reporters elicited these fragments of informatibn, which together spell better travel conditions than ever before. Within five years, most railroads will be equipped with locomotives capable of regular speeds of 100 {miles an hour. New type coaches are already
{is equipped with an invisible radio installed at the ear level in the seat back, Volume is automatically controlled so that the program can be heard only by the seat occupant. Railroads will consider the advisability of seeking passenger fare reductions to meet competition from other transportation, after their military transport task is completed. Eventually, they expect to get down to a 11% cents a mile rate, The rail lines are expected to spend in excess of a billion dollars a year for improvements and
BUSINESS DIRECTORY
expansion for several years to come.
WE Buy Diamonds
| HIGHEST CASH PRICES PAID
STANLEY Jewelry Co.
12 W WASH. Linceip Hoter Bldg —o-
Time to See “Your Hatter”
HARRY EVINSON
$1 N. PENN
Mi. & MARKEY
OXYGEN THERAPY
This Equipment Onan Se Rented of
HAAG'S
402. N. Capitol Ave. Day Phone Phone
Ch of Com Bid a mm—— Citizens Ind Tel dite “Sa a Columbia Club Las 1 | Ended Con WASTE i mein gw | PEARSON'S || paApER Kuhner Packing Co 4s 54....100 ....M 128 N. Penn. LI-5613 N Ind Pub rd 3% 13...... 104 4! ® AMERICAN P Pub" Serv of fod 3s toss ||| FURNITURE @ PIANOS APER Pub Tel Ve 88 Iwwe BAND INSTRUMENTS STOCK COMPANY BY wom Corp be #145 s4% wall RECORDS @ SHEET MUSIC || ei-631 320 w, Mien — A —— - TRUCK WHEAT
2 lanaDolls flour 1 Hoag 0 merits: oats, No, Je] relow sheed. $113 per bushel, and No. 3 We hice smaniea corn” Sra
ion on
mills and Alain he a gi a white cr Ne. ae. he 1
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pop Hg
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——
oN wonN spots LEON TAILORING CO. 235 Mass. Aye, ‘3.5% Middle 0
You Save Because We Supe Men's Suits & Overcoa
A 2" uw
majoring
Dr. Albrecht, who will assume his
re- |
|by evaporation; cooling the refriglerant; compression, cooling and condensation; refrigerants and others. | Mr. Blackman is a former profes sor of mechanical engineering at Antioch college, Yellow Springs, ©. {He has a B. § M. E. degree from
agricultural experiment station, the B. S, E. BE. and M. 8. M. BE. degrees school said today.
from Virginia Polytechnic institute. He is a member of Sigma Xi, na-
new duties tomorrow, attended the tional honorary research fraternity. University of Wisconsin, He ceived his Ph. D. degree in 1936, | in genetics and plant! i breeding with research in factorial tomorrow wilt problems in alfalfa.
The 48-hour course will meet one night a week for 16 weeks, and the first class will be held at 6:45 p. m. in the center at 902 N. | Meridian st.
1
/
that the engine weighs more than {a ton and is about nine feet long. Each of its 12 cylinders can pro-
{tire average automobile engine, he sald. The 1800-horsepower engine weighs only 90 pounds more than 1500-horsepower type, he added.
G. E. Builds Huge Electric Engines
SCHENECTADY, N. Y., Oct. 31 (U. P.).—The most powerful electric locomotive in the country—a 1,000,000 pound, 143-foot long “super glant"—will be completed next year, the General Electric Co. revealed here today. The huge engine, carrying about 100,000 pounds more weight on drivers than the present heaviest load, will be one of four ordered by the Virginia Railway Co. for heavy hauling on its electric line over the Allegheny mountains between Roanoke, Va., and Mullens, W. Va. The engines will be built at the GQ. B. plant in Erie, Pa,
LONG DISTANCE has its Hands Full
The return of thousands of overseas veterans and reconversion
will be higher than prewar levels. Prices Up
With the drop in farm Income, the department said, there probe ably will be an increase in some of the prices farmers must pay next year. The department predicted “moderate” reductions in prices received for meat and dairy products, bug sharper declines in prices for poul try and eggs, fruits and vegetabls
Wages to Hold
Farm wage rates, which have almost tripled during the war, are likely to stay high, the department said. It predicted that the farm labor force, which dropped by : 1,000,000 or 9”per cent during the war, probably will return “more nearly to normal” in 1946, The department said that overs all farm income this year probably will reach the historic height of $21,200,000,000, including $800,000, 000 in government payments. Net income probably will amount to $13,000,000, also a record.
The Business branch of the Indie anapolis Public library reports the | following new books of interest to local businessmen: 3
HOW TO START YOUR OWN
| BUSINESS, by Edith Kay and Wale
ter Shaw,
SELLING, by Barl G. Blackstone and others. :
BUSINESS ORGANIZATION AND PRACTICE, by E. M. Robine son.
PROCEEDINGS OF THE CON« FERENCE OF FINANCING THE POST-WAR BUILDING BOOM ON A SOUND BASIS. 3
ESTABLISHING AND OPERATING A SHOE REPAIR BUSINESS, by J. G. Schnitzer snd &. R. Budd,
JOB OFFICES CLOSE
The Indianapolis area U. 8. em= ployment office will be closed Dee, 1, John K, Jennings, state director, said today.
All other area offices In the state are closing today, he stated. ;
activities are producing a great wave of Long Distance calling,
There are just not enough facilities to take care of all calls
promptly. We are still asking your help in making only calls
It-is our hope and expectation that the time is not so far away wheh ‘We can give everyone who needs it the kind of prompt, efficient service that has always biden our aim,
that are really necessary, and in keeping them reasonably brief.