Indianapolis Times, Indianapolis, Marion County, 15 January 1946 — Page 6
apolis; B. P. Bogy Jr, Indianapolis; W. A. Stelzer, Urbana, O.; M. Mitchell, Indianapolis; H. L. Holstrom,
ATTACKING OPA
Cotton Ceilings Are Cause Of Trouble.
WASHINGTON, Jan. 15 (U, P.).— The office of price administration today plunged into a battle with Southern congressmen by going ahead with its plan to impose ceiling prices on the 1946 cotton crop. Brushing aside their warnings that its own existence might be at stake, OPA gave advance notice of
Mon its proposed ceilings. They pro-
commercial peace-
£ 8
;
i 2
£2 1 0 : feiiiti:
g 8
7 5
i
» Secretary-treasurer. | LOCAL ISSUES
quotations furnished securities dealers: "
vided a top of 24.09 cents a pound for 15/16-inch middling American upland cotton in area one. Prices of all other gradés and staples are based on this grade. Warns Agency When OPA first announced its intention to impose cotton ceilings, Senator James O. Eastland (D. Miss.) warned bluntly that the agency was “attempting suicide.” Senator John Bankhead (D. Ala.)
ceilings into effect if the cotton market becomes stabilized before the 1946 harvest season.
FLETGHER TRUST CO. ENLARGES QUARTERS
A steady increase of business has necessitated enlargement of the Fletcher Trust Co. main office at
the end of 1945, capital stock, sur-
to $4,637,137, and reserves were $406,429. Deposits: were $110,892,609, compared with $01,208,067 at the
tal debentures amounting to $500,000
company’s surplus was increased ly. Mr, Landon said that lobby space
storeroom which was formerly rent ed. The space will be adapted to the bank's uses as material and
_{labor become available, he stated.
All directors were re-elected at the meeting yesterday. They will meet Wednesday to name company officers.
Elias C. Atkins, Autin V, Clifford, H, Foster Clippinger; Joseph J. Daniels, Carl F. Eveleigh, Frank E.
A Gates, Benjamin D, Hitz, Norman 20 |Metzger, Donald 8. Morris, Howard
renee
8, Morse, Guy L. Roberts, Almus G. Ruddell, William B. Schiltges, Henry
"Ys FP. Schricker, Robert F. Scott Jr, I. «...| Richards Wagner, Harold B., West, **:*land Evans Woollen Jr.
Mr. Landon reported that 17 of
**++|the 51 men in service have returned ....|t0 the company.
- SEES ADS CHICAGO, Jan. 15 (U, P.).—~The industry will spend about
i." | grocery «+++ | $157,000,000 in 1948 for advertising, . | Paul 8. Willis, president, Grocery
Manufacturers of America, Inc,
« | predicted today,
i Realtors
Meetings
Myron R. Green, industrial com-
'* |missfoner of the Indianapolis Cham-
ber of Commerce, will discuss “Local
is (Business in 1046” at the luncheon
a . l Bebsenienans, 31
3 BONDS
The 150 calves regained the $1.00
might not be necessary to put the|Medium~
Market and Pennsylvania sts., Hugh | Gees McK. Landon, board chairman, re-| 700 Iported yesterday. Resources totaled $116,137276 at|3%:
plus and undivided profits amounted | ;
end of 1044. The balance of capi-| 300 was retired in January, and the| 2
and teller's cages. were inadequate, | Good and that the bank has taken into | : its quarters a Pennsylvania st.
Directors besides: Mr. Landon are Sul
Minneapolis; G. J. Pierman, Columbus, O, and C. J. Kucera, Fairmont, W. Va.
| SOUTHERNERS
BOOKS
The following new books have been received by the Business branch of the Indianapolis Public Library: = PRIVATE MONOPOLY, by David Lasser,
80 YOU'RE GOING TO BUY A FARM, by D.,B. Greenberg and Charles Corbin. THE PIRATES WILL GET YOU: A STORY OF THE FIGHT.FOR DESIGN PROTECTION, by Sylvan Gotshal and Alfred Lief. DOCTORS OF THE MIND: THE STORY OF PSYCHIATRY, by Marie Beynon Ray, BUDGETING FOR MANAGEMENT CONTROL, by. Floyd H. Rowland and W. H, Harr. (New edition.)
>
TRADE STEADY | ON LIVESTOCK
Yards Get 2600 Hogs and 1075 Cattle.
the Indianapolis stockyards cleared quickly at mostly ceiling prices, the U. 8. agriculture department reported.
The 1075 cattle sold actively in a forced trade, and steers and heifers were strong to 25 cents higher, which combined with yesterday's gains, made a total gain this week of about 50 cents.
to $1.05 lost recently, and the 50 sheep and lambs were too few to offer an accurate test.
GOOD TO CHOICE HOGS (2600)
Bautche 120- 140 pounds
$13.50014.25 140- 160 pounds 14.26) 60- ds .
anesnssne JED [email protected]
cessansrtanas
Good— 400- 500 pounds ...seessevee. [email protected]
Medium — 250- 550 pounds ............. [email protected]
Slaughter Pigs ood--
[email protected] vee [email protected] eves [email protected] sesvesss 17.25018.05
dS Leinenee sense [email protected]
37g x tesrsstnsnnes [email protected] dS ...veae sensie [email protected]
5 00
OMMOon « 700-1100 pounds .......eee0.. [email protected] ' Heifers | [email protected] 16.509 18.00
naan [email protected] cesnen evenness 15.26@ 18.50
[email protected] [email protected]
certs sssanene
eet vasannane
sesesrenres
SratBsssannn
rss nenarens
314.50 50912.50 $10.50 00@ 7.7
SeRBRL TRB aR RINT ERE,
Beef— Good (all weights) «..ovvveens [email protected] Sausage Good 11.78
SeMheassasansnesee sees 11.25 ‘Srrsenissensansnrene 10.00:
CALVES (150) Vealers (all weights) Good and choice .... weighy 11.50 y 11.00@17. [email protected] Feeders and Stocker Cattle and Calves Steers .
Choice 600- 800 800-1060 Good
pounds
serisennnens [email protected] pounds
seessnssvees 13.50Q18.00 seresnvenses 12.00915.50 [email protected]
500- 800 pounds 800-1050 unds Medium ”
Sess eannnn
Ewes Good and choice’ .............. 6.50
Common and medium
sevennee
Choice and cl rrr : closely sor sens 18. Good and choice bork i oi +o 10 12. 9.00@10.
SPEEDWAY BANK RENAMES ‘OFFICERS
Speedway State bank wers reelected in meetings last week, Officers are Asa O. Ruse, presi dent and board chairman; Emsley W. Johnson, vice president; and H. L. Keller, cashier.
Mr. Johnson, William p. Rosner,
4.85 |groups consider how local govern-
s| Vice president; Frank N. Sharfe,
1.50 || 6.50 {§
8 13.00}
All officers and directors ot |
Directors besides Mr. Ruse arel
FEW AIRCRAFT
Only 1-3 of Frame Factories Required, Says SPA.
WASHINGTON, Jan. 15 (U. P). —Thé nation's peacetime aircraft industry can use only a third of wartime airframe plants and a sixth of government built engine plants the surplus property sdministration estimated today. The © 305 plants, which cost $3,800,000,000 are for the most part adaptable to other industries. They can make a “particularly important contribution to employment and reconversion” if they are disposed of quickly, SPA said in a report to congress
Rapidly Shrinking The report: said U. 8S. aircraft production, which became the
ing the war, was rapidly shrinking back to.a relatively small status. Afrcraft production ~ skyrocketed from $157,000,000 in 1937 to a high of $16,046,000,000 in 1944, but is expected to drop to less than $1,000,with drastically curtailed production, but Heavy expenditures for research and development during and after the readjustment period, SPA said. Consider Conversion The report sald that government aircraft plants would be sold to the industry on a preference basis only when the army or navy so request. 80 far the army and navy have proposed that only 10 large airframe plants and four large engine plants be kept in peacetime standby reserve as a security measure. BPA suggested that community
of to the best interest of the community. ; The agency reiterated that the basis of sale will not be the dollarreturn on government cost, but rather the speed with which these plants can be put into peacetime
sold fos their original costs, however, SPA said.
SCHUSTER NAMED OFFIGIAL OF BANK
vice president of the Fountain Square State bank at a meeting yesterday afternoon. Mr. Schuster has been a director of the institution for several years and is president of the Troy Oil Co. and the Weber Milk Co. He replaces R. E. Sweeney Jr. who was recently elected assistant cashier of the Merchants National bank. All other officers and tors were re-elected. They incl Val 8. Schneider, president and board chairman; Carl Lavrenz, assistant cashier, and Calvin Clymer, assistant cashier, Directors are Harold J. Koch, H, Langsenkamp, R. E. Sweeney Sr.
A. J. Vondersaar and Edward H. Wischmeyer. 5
H———— Never Gamble with SAFETY!
Let Grain Dealers + insure your furs and jewelry. They'll be protected WHEREVER THEY_ARE
Herbert H. McClelland and Emsley W. Johnson Jr. / :
Bonds of the United
States Government,
PLANTS NEEDED
world’s largest single industry dur- |:
The industry is not only faced|
production. Many plants can bel E
Frank ‘J. Schuster was elected]
=
e
50 to 75 per cent ahead of July, 1045, levels and is expanding
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‘NEW ORLEANS, Ja. 15 (U. P).~—Members of the brass-and-polish New Orleans Cotton Exchange today were completing final ar i- | rangements for celebration on Thursday of world’s cotton trade.
Located on one of served as a buying greatest product. The Cotton Exchange has occupied four buildings in its threequarters of a century existence and since 1921 has been housed in a
The present home was erected at a cost of $1,222,250. The trading floor, occupying the entire second story, has a massively decorated ceiling 30 feet high. The floor is richly set off with the finest
andfof Italian marble and African Ma-
hogany. : Others Invited The Diamond Jubilee celebratjon will surpass any in the Cotton Exchange’s ‘history, D. T. Manget Jr.
and on data submitted by CED regional managers.
BABY NEEDS! .
== Asleep or Awake!
Just Across the Street
HINGYTOWN 57
Year Thursday
75 years service to the
the bustest corners in the city, the Exchange has and selling place for those interested in the South's
T 34th president of the Exchange said today. Members of the cotton trade in all parts of the nation have been
New York Cotton Exchange will fiy here for the occasion, - Manget, 39, i$ one of the youngest presidents to hiead the exchange.
the Exchange's affairs during its history, The first was Col. Henry G. Hester, who invented a system of commodity and crop statistics which is in: use today around the world, and earned for him an international reputation as a cotton economist. Henry Plauche, the second and present secretary, was Hester's pro‘'tege. Plauche has been connected with the Exchange for nearly 50
years, / »
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TUESDAY, JAN. 15, 1946"
, |New Orleans Cotton Exchange
2 Exchange president, will be guest speaker at the Indianapolis Chamber of Commerce luncheon in the Lincoln hotel - tomorrow. His topic will be “The Business Outlook.” Mr. Schram will be the first of a series of nationally known bust-
ness leaders who will address monthly forums of the local Cham-
invited, and a delegation from the| per
A native of Peru, Indiana, M. was chairman of the Reconstruction Finance Corp, before his election to the stock exchange
Only two secretaries have guided | post.
The committee planning the fors ums ‘is headed by Henry Holt, chairman, and ‘J. Ralph Fensters maker, vice chairman. »
ar—————— LL] OIL BURNER PRICE UP Retail handlers of domestic’ ofl burners will add to selling costs a nine per cent increase allowed the manufacturer, the local OPA said today. The advance was effective
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Gene Zweissler, ( Howard Deer Sr, Bernie Burch, U. Carl Brehob, Soi J. Forrester, Inte Bill Winkelmeier, Dennis Lauer, Fy Harold Anderson, Ray Chrisney, St. A il, Auto Tre ce Obergfell, ]
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The complet ool 1046 ournaments, 1 pf participatin les, follows:
Ambia~11 Ben Anderson—9 M Attica—T Foun nillion (Perrysvi Auburn-—T DeK (Churubusco) tesville—9 R. Bedford—10 La mington—8 Bluffton—§ We Olinton—10 Pa Connersville—7 )
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