Indianapolis Times, Indianapolis, Marion County, 31 January 1946 — Page 25

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- 1 DIDN'T Y INTEND T0 GO TE AS FAR AS UT T DON'T OU SITTIN’ iE EITHER! ~ TOMORROW | » GHT TLL BEA ’ 2000 SPORT— TLL TAKE

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{OW I OESN'T THUSIASM VENTURE!

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HOUSING RULES “ARE REDRAFTED

BUSINESS—

Changes Made on Wyatt's Recommendation.

By NEP BROOKS Scripps-Howard Staff Writer WASHINGTON, Jan. 31. — Ad-ministration-backed housing legislation was being redrafted today to bring its price-fixing provisions into line with recommendations of; Housing Expediter Wilson W. Wyatt, The revision also was designed to overcome strong opposition in the house banking committee against extending price controls in the housing field, Use New Formula This opposition reflects the view of the homebuilding industry, whose spokesmen have warned that more price-fixing will mean less con. structions The pending bill by Rep. Pat-

THURSDAY, JAN. 81, 1046

Jet-Propelled Liners May Be Next

The world will be great if only half the wenderful things that are being dreamed up now come true.

Latest is the jet-propelled ocean liner, shown here in model form,

New York “City who says it will carry 6000 passengers across the ocean in 30 hours at approximately $50

per’ round trip.

_ THE INDIANAPOLIS TIMES

FOUR LOCAL BANKS Synthetic Rubber Enables U. S. to Name Price of Crude

‘By JOSEPH E. KUEBLER ~ Times Special Writer

Akron--America’s post-war rubber picture was beginning to take i final shape today with these definite trends: This country for the first time holds the whip hand in what | it will have to pay for rubber as the result of the achievements in the

AMONG 300 BIGGEST

Four Indianapolis banks today were named among. the nation’s 300 largest by the American Banker, daily banking newspaper, In 66th place was the Indiana Na- |

and the American National was 164th with deposits of $115778,520. The Fletcher Trust held the 175th

’ place with deposits of $110,802,610,

and deposits of $108,797,162 put

t was designed by J. Tomadelli of |the Merchants National in 180th place. * As of Dec. 31, the publication

He estimates the cost of the 1100-foot, 100-miles-per-hour vessel at $35,000,000.

U. S. Gaining in Cultivation of WHEAT EXPORT

Rich South American Market IS SEEN SHORT!

By ERNIE HILL

Times Foreign

Correspondent

estimated total U. 8. bank deposits at $162 billion, a $20 billion gain during the past year,

Meetings

Underwriters The women's division of the In-

BUENOS AIRES, Argentina, Jan. 31—The post-war race. to culti- i S. Domestic Stocks Were dinapolis Life Underwriters us-

vate the rich South American market has started, with the U.S, show- | ing substantial gains in commercial shipments.

More U.S. vessels have docked at Buenos Aires during the first four

man (D. Tex.) would establish ceiling prices on new homes by a formula taking into account the actual costs of construction, the “fair” market value of the land and profit margins prevailing in 1941. Mr. Wyatt has told the committee that this method is too rigid and would involve too much red tape. Amendments being drafted by Rep. Patman and others will adopt the price methods now being used on homes being built under government priority aid. In this program, designed to produce houses

RECEIVED HERE

Sales Reported. Generally

Active, Steady.

The 4175 hogs received today at

at $10,000 or less for veterans, the a ready market at steady levels, the | federal housing administration re-|y gs. agriculture department said.

views builders’ plans to decide] whether their predetermined selling prices or rental scales reflect & reasonable return. ) Retain Subsidies Provisions for ceiling prices on old homes will be retained in their present form. Mr. Wyatt has indorsed the proposal under which the first sale after passage of the act would become the maximum for any later sale during the life of the law. Subsidy provisions of the bill alsv are being redrawn te limit government payments to material producers ‘or manufacturers of prefabricated houses or sections. - The pending measure would permit subsidies in any form so long as they stimulated low-cost building. Another revision planned by Rep. Patman would revive the wartime provision of the national housing act under which the federal housing administration insured up to 80 per cent of the cost of large-scale rental projects. Mr. Wyatt is expected to make known his position on subsidies next week. He is believed to favor a limited program to ald marginal producers, perhaps confined to the lumber industry. Reconversion Director John W. Snyder is said to oppose any subsidies. The delay in the submission of Mr. Wyatt's 1ecommendations to President Truman and congress is attributed to] these conflicting views. {

BEGIN INDIANAPOLIS DENMARK FLIGHTS

Direct flights from ‘Indianapolis to Denmark and Sweden will begin tomorrow by American Overseas | Airlines, the local office of American Airlines, Inc. announced today.

The new service, departing each ci.

Friday from LaGuardia airport, New York, will allow a passenger (0 leave Indianapolis Thursday at 4:00] p. m. and arrive in Copenhagen 12:29 p. m., Saturday, or in Stock-| holm at 2:55 p. mj, Saturday, A passenger can leave Stockholm’ on Sunday at 9 a. m. or Copen- | hagen at 11:30 p. m. and arrive in! Indianapolis at 12:55 noon on Monday. American Overseas’ new four-mo-tored DC-4 Skymasters will be used on these new flights. American Airlines resumes two, daily non-stop flights between Chicago ard New York today, the local] office .sadd. The schedule of three hours and | 25 minutes is the fastest ever pub- | lished, the office reported, and will be flown by the first DC-4 Flagships ever to be used by American on domestic routes. ’ { The new planes, which seat 44 instead of the usual 22 passengers, | will leave Chicago at 12 noon and] 9 p.m, i The non-stop flights were dropped| during the we the war IF years. |

5 MORE FIRMS JOIN PATENT FOUNDERS

Five more Indianapolis firms have joined the Founders of National Patent council, the group said today. | +The organization, established to| develop “a better understanding of the patent system, now includes R. B.. Annis Co.; Continental Optical Co., Inc.; Food Display Cover Co, Inc.: Inlamd Container Corp., and the Mme. C. J. Walker Manufactur- | ing Co. The national society num- | bers about 500 firms.

‘NEW / BILLION-DOLLAR FIRM NEWARK, N. J, Jan. 31 (Ik P) ~-Mutual Benefit Life Insurance Co. has joined the list of billion-dollar asset insurance companies, John 8. Thompson, president, disclosed today.

LOCAL PRODUCE

PRICES, FOR PLANT DELIVERY Poultry: Hens, 4% (bs. and over Ho; nder, 100: leghorns, 18c¢: springs, 4% s. and over, 22c¢; under, 200; ‘'eghorns, 18¢; toasters, 16c: ducks, § Ibs, an 0c; Hght, 156: geese, on capons 4 and over. 30c; under, S' current a a. 64 Ibs. to case, 20c; graded eggs, A large, 32c; A medium, 20¢; no grade, 26¢

TRUCK WHEAT

Indianapolis flour mills ana grain eleyators are paying $170 per ovushel tor

over,

bs. | *

| The

weeks of this year than in any full month of 1945. General merchandise for retail sale and petroleum products for the bulk of the

4175 PORKERS

cargo. Of 128 ships docking here during | My last four weeks, 25 were Argentine, 24 American, 24 British, 13 ‘Norwegian and 9 Swedish, There

{also were 6 Dutch and 6 Danish, {4 Chilean and 4 Uruguayan,

‘Spanish and 3 Greek, 2 a land 2 Panamanian, 1 Finnish, 1 South African and 1 Canadian, total number of vessels docking here last year showed the | U. 8. in sixth: position.

Argentina led the field with 561, [Henry A. Wallace planned to con- ||’

Britain had 265, Sweden 144, Brasil [fer With Secretary of Agriculture | the Indianapolis stockyards found 1118, Spain .116, and the U.S. 104.

Shipments to Argentina from the |was any way U. 8. shipments could |

U.S. were low last year partially

The 975 cattle registered a 15 to|because of the economic isolation

{50 cents lower, | "The 2900 sheep and lambs showed (#04 March, no U.S. ships touched | share” of the responsibility of meét- | Only three came in|ing the “urgent” relief needs of the | They were re- |

little change,

GOOD TO CHOICE HOGS (4175) Butchers Seva saevei en $13.50 14.28 14.26@ 14.85 14.85

“ae oo. 14.85 300- 360 pounds .... . [email protected] Medium—

160- 220 pounds ............ [email protected]

270- 300 BE vrs annenys 14.10 330- 400 pounds sessions. 14.10 00d 400- 450 pounds ........s... 14.10 Medium— 250- 550 pounds PROT 12.759 14.00 Slaughter Pigs Medium to Good— 90- 120 pounds [email protected] CATTLE (978) Steers Choice— ; 700- 900 pounds ............ 17.00318.08 900-1100 POURS .......o.e.- 17.0043 18.05 1100-1300 pounds ............ 17.25@ 18405 1300-1500 pounds .....ecevvse [email protected] Good

[email protected] . [email protected] . [email protected] . [email protected]

700- 900 pounds 900-1100 pounds .. 1100-1300 pounds .. 1300-1500 pounds .... Medium —

700-1100 pounds avant 13402133 1100-1300 DOUNAS .........os- 13 . Common— ; daily. 700-1100 pounds [email protected]| But during the current hot sumHeifers Choles $00- 800 pounds ............ [email protected] up petroleum for the coming cold cent deficit. 800-1000 pounds ev aaso.s [email protected] SeARON. Good— $00- 800 PORES ......oisee [email protected]| Brazil 00- pounds .....ce0000. Meum ds [email protected] | tiha bec of the latter's obt 00- pounds ............ 12.50 ause e er’'s use Common 270,000,000 hushels for food,

Cows all weights)

(Good 12.75@ 14. 30 Medium . 11.25@13. Cutter and “common : [email protected]

Shane: Bulls (all weights) 000 850 Of the 24 U.S. ships stopping the carryover next July will amount Beet— there this month, six were loaded to only 70,000,000 bushels. Since Soon (al weight) .. 13.00913.50| with petroleum. During the first| 193g, this nation's carryover of GEOB (iv iivvinesvanss IL [email protected] four weeks of the year; Argentina |wheat into the new harvest year! MIU od “common Ga received 14 shipments of petroleum has not fallen below 200,000,000 CALVES (45) ? from various countries. They to-! bushels. : Vealers (all weights) ? aie 4 1500 tons of the badly! Officials blamed the critical world Good and choice 17.00@ 18.05 \needed oil. ’ ” OTE Sona Al and medium 0.0 11.00@17 00! wheat shortage on the severe

[email protected] Feeders and Stocker Cattle and Calves Steers | Cholce— 600- 800 pounds ............ [email protected] | 800-1060 pounds ............ [email protected] Good— 500- 800 pounds ............ | 800-1050 POURS ...vu.ssuns? 1 [email protected] Medium— 500-1000 pounds ..... [email protected] SHEEP (2000) Ewes (Shorn) Good and choice Lo. 8.00@ 7.00 {Common and medium .... 5.00@ 6.00 Lambs Choice and closely sorted .... 15.006 15.38 Good and choice ..... veo. [email protected] | Medium and goed “opens mn 11.25@ 13.00 Common RI ® 00@11 00

TWO NAMED HERE

BY INSURANCE FIRM

Francis A. Hackett, Indianapolis branch office manager of the |Standard Accident Insurance Co., {has been named to a similar posi= tion by the Planet Insurance Co. the Standard’s fire and marine affiliate, E. M. Curry, manager of the bonding department at the Standard’s Indianapolis branch, has been appointed assistant manager of the Planet's local office. The Planet offices are located in

|the same quarters as the Standard,

and both men will fill a position in each company, The two firms, with the Pilot Insurance Co. of Toronto, make up the Standard of Detroit group.

Purchasing Head Named by Allison

R. E, Settle today was named manager of purchasing and material control at the Allison plant, Now in his 20th year of service with General Motors, Mr. Settle has been acting manager of the depart~ ment since September, 1944, A native of Wells county, Ind, and a graduate of Indiana. Central college, Mr. Settle -joined Delco-Remy division at Anderson in 1926. Transferzed to

R. E. Settle the Delco-Remy plant at Muncie in 1028, he was production supervisor when he joined Allison in 1940. : . Mr... Settle announced assistants as.Joseph- W. Payne, 'in cliarge of

0 iother. grades oh elt esting 8s lbs. or better. 76¢c; corn, No ? Fellow sheiiad. $108 oer bushel snd No 3 te shelled corn, $1.23.

aircraft Material, and Frank J.

Giorgiann!, in charge of commer= p |

clal material.

{25 cent ‘gain in two days trading, policy announced by former Secre- | while the 425 calves were steady to| tary of State Cordell Hull in Oc man called on the other three na- |

Over-Estimated.

WASHINGTON, Jan, 81 (U, PJ). | —The United States probably will | fall at least 25 per cent short of | its goal sending 225,000,000 bushels |of wheat to the liberated countries [2 the first half of 1046, it was learned today. This country's quota totaled half 3|of the scheduled relief wheat ship{ments through next June. In ad- | dition, it has asked Canada to pro[vide 30 per cent and Australia and Argentina 10 per cent each. Secretary of State + James F. | Byrnes and Secretary of Commerce

| Clinton P. Anderson to see if there]

be stepped up. Nations Miffed Only last Friday President Tru-!

(tober, 19044. In January, February | tions to “accept their proportionate |

{port here. April and May. During that period of isolation, Britain, Spain and Sweden brought | most of the cargo to the big Ar-| gentine market. The U.S. started climbing slowly |

ginning with the new year. Its sudden spurt i§ a constant source of annoyance and anguish to Britain; which dominated the South Atlantic market between the wars. Trade Fuel Oil The U.S. agreement with Argentina to trade fuel oil for badly needed linseed oil, which is produced here, apparently will Buenos Aires from experiencing another heatless winter. Last winter, most hotels and public buildings were without heat because the U.S. refused to export petroleum to Argentina.

10 wana sof Stand during the war, but the U.S. 000,000 for livestock feed, 22,000,000 has proceeded and attempted tO for seed—and the 225,000000 for ex-| linseed is | port,

convince Brazil that 2% | badly needed in the U.S.

Regardless of poor diplomatic re-!

| lations, shipments are coming into | Europe and North Africa by 12,000,It is only in the |

Argentina and exports are moving {northward to the numerous world |ports. The U.S. has gained mate-

[email protected] | F1al Bround in its reshuffling for

markets in this part of the world. !

and The 1e_Chicago 0 Daily Ne News, $, Inc.

LOCAL ISSUES

Bobbs-Merrill com ........,.. 10

Central Soya com .... ....... 60'z 63% Circle Theater com 63 Comwlth Loan §% pfd ....... 105 Cons Fin Corp pfd .......... 97% Delta Electric com .......e... 16 Electronic Lab com 47% 53

. s Fi. Wayne & Juskgon RR ‘pt. 102%a Herfl-Jones Co ¢l A 11 Home "T&T Pt Wayne So pid 51

Hook Drug Co.com er)

105%a

Ind Assoc i! 100 2 pfd ...... 8 ind & Mic P lec 42°: pid... 110 113% | ndpls P & pid . .4 113% 116! | Indpls P&L com .. . 28% 30% U. S. STATEMENT | Jodianapetis Water pfd ....105 | Indpls Water Class A com.... 20% . WASHINGTON, Jan. 31 (U. P).—GovIndpls Railways com . 19% ernment expenses and redeipls for the Jeff Nat Life com .. ......... 15% 11° | current fiscal year through Jan, 29, comKingan & Co ¢om ........... 8% “9% | pared with a year ago I Kingan & Co pfd ... ....... 95 100 This Year Last Year Lincoln Loan Co §% pid 99 Expenses $43,544,937, 075 $56,384,503,933 Lincoln Nat Life com . 60% T2': | War Spending. 36,344,414,112 50,577,607,468 P R Mallory com coves 36% 38% | Receipts 23.439.511.950 28,129,683,144 | Marmon-Herrington com ..... 17} 184% | | Net Deficit , 20,106,421,516 32 261.851,280 | Mastic Asphalt . 12% 13% $ | Gash Balance. 25,142,165,634 19,823,490,060 | Natl Homes com 1 7% | public Debt 278,898,301,330 233,503 413,880 N Ind Pub Serv 5% .......... 100% 111% | Geld Reserve. 30,157,406,861 20,549,969,959 Progress Laundry com........ 20 Pub Serv of Ind 53% ....connv. 107 100% . " y Pub Serv of Ind Com ........ 36% 38 INDIANAPOLIS CLEARING HOUSE Ross Gear & Tool com ...... 30 31% | Clearings . $ 6,530,000 | So Ind G & B 4.8% ptd......111 113% | Debits 13,750,000 Stokely-Van Camp pfd 2134 ea Stokely-Van Camp com ..e.o.s 28% pay | Terre Haute Malleable ...... 8% : 3 |U 8 Machine com ..........0 4 Sale rans [Shited Tel Co 8% ... wessrees 38 w' wy i {Union Title com ~ ........:. Y By : Bonds Is our American Loan 4%s 68 ...... Mn... a American Loan 4s 60 ....... 8%... 2 Bubner Fertilizer 5s 54 ...... 08 we X Ch of Com Jldg 4%s 61 ..... 9 oe 3 Citizens Ind Tel 4%s 61 ..... 103 ass $3 Columbia Club 1s bs #0 youn @ | Consol Fin 5s 56 seis 59 “nnn 21 Ind Assoc Tel Co 38 78 104 wee | 3 | Indpls P & L 3%s 70 vo vn 30T ore 4 Indpla Railways Co 58 87 ... 8 pAb i ndpls Water Co 3'25 68 108% 108 ) & i Kuhner Packing Co 4s 54 ....100 It's quite possible il IN Ind rub Pi Mi 1064 108% 2 NCE can il u rv 0 ind s 78. ...108% 11 { Pub ™ 4%s § ...100 COINSURA i rac Term Hu 5s 67 08% 99% mit 5 | H J Williamson Ine 8s 55 08 ‘ jower your rate, per 3 __‘Ex-dividend. RE 3! a ——————— i you to carry MO { ter i insurance at no greater Listen lo ‘ cost. Ask us for complete details.

"BUSINESS HIGHLIGHTS"

by Merrill Lynch, Pierce, Fenner & Beane

Every night Monday through Friday

WFBM—10:45 P.M

keep |

liberated countries,

ported to have been Somewhat miffed by the statement. Government sources disclosed {

| that the U., S. commitment of 225,000,000 bushels was based on an

back toward the fore after midyear | oyer-estimate of domestic wheat of 1945 and reached its peak be-| hops which are about i

| bushels lower than anticipated. U, |8. shipments overseas are expected | 'to drop by at least this amount. The agriculture department i preparing an order to “squeeze” {every last bushel

civilian consumption of flour, - Whisky Banned The department

is out; of wheat not needed for food purposes. There are,’ thowever, no plans to curtail U. 8.

already has banned wheat for whisky except for

{sociation will have a round table discussion on “Our Responsibility an the National Service Life Insurance” at the luncheon Wedaesday in the Columbia club. The discussion will be led by Miss Mazie Cofman, Commonwealth Life Insurance Co,

RAISE CRUDE OIL PRICE WASHINGTON, Jan, 31 (U. P). —The office of price administration {today approved producers’ price in-

crude oil pools.

tional with deposits of $202,129,389, |

creases ranging from 10 to 35 cents! a barrel for oil produced in five

One:

synthetic rubber industry, » Two! per pound for synthetic, 22% cents|’ for natural--but will continue to be| cheaper unless Far Eastern growers | i slash their current prices, Here to Stay Three: The war-created synthetic rubber industry, a vital part of the nation’s economy, is here to stay either through continued govern-

ment operation or by private manufacturers, The agreement that British,

| Dutch and French rubber growers reathed with the state department recently indicates the plantation owners realize there will be no high

rubber ‘prices, at least for the present. It indicates further that they

are ready to play ball with (heir biggest prewar customer, the U. 8, If they don’t they are going to have a lot of rubber on their hands. Assured Stable Price In means most of all that the rubber manufacturers have been assured a ‘stable price for their principal raw material, a price that

Snythetic not only costs Akron factories less today—18'2 cents

| has jumped from 20 cents to $1 2

GOOD USED FURNITURE!

nonedible grades.

It also plans to

There was | hot water only an hour or Wo standing loans on 1945 crop wheat—

mer months, Argentina is storing {5 eliminate the probable 25 per

ge has protested against totaled 689,000,000 bushels. 2 {shipments of petroleum to Argen- mum requirements now include

Sun Giokstipns Turgished by’ tndi-| Indianapolis and Marion county STOCKS Bid Askeq | Builders and realtors yesterday | Agent Pin Corp eom ........ 7% .... went on record as opposing sug- | Agents Din Oo pid ........ Be 30 [gested price ceilings on old and Amer States cl A ............. 33 {new housing. £78 Ayres afin pt oar aia | EW. Springer, Indianapolis Real Ayshire Col com .. ........... 28% jo |Estate board president, and A. H. Bor ROX Ydscom oo. 31 WWIM. Graves, Marion County Resi-| | Bobbs-Merrill 4% % pid. een 70 . dential Builders president, submit-

i734 | would increase with the end of * |controls, and that this would cause |

+ * | bring prices down.

limit wheat for livestock feed and clamp tighter controls on commercial exports. It will call in out-

amounting to 43,000,000 bushels. None of these efforts is expected

On Jan, 1, U. 8 wheat reserves Mini-

100,~

Add these up, officials said, and]

drought that cut production in 000 tons in 1945. last month or two that the full im-

pact of this drought has been Tel,

BUILDERS OPPOSE | OPA PRICE CONTROL

|ted a report to their groups asking | elimination of OPA control. The report said that production |

.|competition that would finally |

| i {ey

ro ay 2456

Similar

to Picture

FACTORY CLOSE-OUTS! SAMPLES!

a pound almost overnight in past years.

Before ‘the Internatiohal Rubber os

Study group met in London in November, there was a belief in the industry that the British-Duteh’ combine might demand 30 cents or more a pound for their product. The U, 8, delegation impressed the grower countries that America could continue virtually self-suf-ficient in rubber if Far Eastern prices were out of line, How well they succeeded is reflected in the initial natural rubber price of 20': cents a pound negotiated by the state depart ment, Expires June 30 The price means that the Rubber Development Corp., which buys all America’s rubber, can continue to dispose of it at 22% cents a pound and break even. The importance of rubber prices to the American consumer is emphasized by the fact that the vari-

in ~ retailer in vicinity.

Temporary ofces ‘Washington

Graham-Paige Motors. Corp.

announced today.

difference of $20,000,000 in country's 1946 rubber bill, = ‘June 30 is the expiration date | the RDO, unless the second powers act is extended or RDC given a new lease on life by come

gress.

If RDC dies, rubber buying will become, as one official aptly put it, a dog-eat-tog affair, manufacturer who is willing to p the most getting the biggest

ation of 1 cent a pound means the

Cope t, 1946,

The rr oan Dally News, ]

construgtion,

Large shelf space with glass doors, Plenty of conven.

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Sturdy, 7-drawer

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Large table and four sturdy chairs with leatherette

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Sturdy table and buffet with set of chairs, Nicely fin-

Choice of attractive covers.

UTILITY CABINET

17% ient storage space in bottom.

Handy center drawer. Gleaming white enamel finish. A

KNEEHOLE DESK

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with the

5-Pe. Breakfast Set

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upholstered seats. Rich maple

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Drop center vanity. Large round mirror, Big four

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