Indianapolis Times, Indianapolis, Marion County, 23 May 1946 — Page 16

TT PIR RO SR

i today. Most ‘Yemarkable | prices of Indiana university publication

| “With better eplovmeit tacili“ties, higher farm prices and good

In Indianapolis business, bank debits, six per cent below March debits, were still four per cent above those reported a year ago. Postoffice receipts were up five per cent above Maren, and 12 per cent above

April, 1945. Newspaper advertising lineage increased four per cent over March and 30 per cent over April, 1945. The building business was on the upgrade with permits valued at $1,445,530, nearly half of which were residential. .

How Taxes Level Net Profits

Bilin of polars

Despite the far-reaching effects of t thé coal strike, Indiana business ag April showed considerable activity and, in some phases, increases previous month and a year ago, Indiana Business Review

the retail trade—were contributed to extent to Saye by returned veterans, and the general increase commodities,

| strikes, employment in all phases of Indiana business, the I. U. business research bureau said, rose six per t above employment in March, with pay rolls increasing seven per cent. Conversely, industrial activity showed set-backs. rb General Index Off “The index of general business computed by the bureau and based in part on preliminary reports,” the publication said, “dropped to 108.8 !as compared with the revised March

|index of 213.4."

The coal strike; hitting hard during the latter ‘part of April, forced 20,000 out of their jobs in one week. With regard to national. business, production has been drastically curtailed in nearly all of the nation's industry, especially in durable goods, the review ‘shows. “The possibility of serious repercussions upon the nation’s economy, as a result of the recent labor controversies has resulted in great pub-

‘Disregarding idleness due to lic concern,” the review says.

Hipstock Market Steady

With 6250

sockyards today.

A meager cattle supply was not enough for a prices were about in line with those of earlier this wee

80 cents.

THE INDIANAPOLIS TIMES °

By FRANK ASTON

Newschart above, prepared from deparimient of commerce’s survey of current business, shows profits of U., 8, corporations from 1929 through 1945. While gross profits and taxes had a parallel rise, net

profits leveled out from 1941 throughout the war. Although gross profits reached a peak of $24,900,000,000 for 1943, that war year's net profit was but $9,900,000,000, which compares with the $8,400,000,000 net of 1929,

Strikes and Pay Increases

Mark |3-Year Coal Mine Era

By JOHN HOOVER Seripps-Howard Staff Writer WASHINGTON, May 23.—The history of wage negotiations in the soft coal industry has been spotted with strife, strikes and advancing es, In 1033 an industry-wide contract between the miners and the oper-| ators was signed, while ‘NRA was operating. The agreement set a basic

Hogs Received

fair market test, but |

! Receipts were 6250 hogs, 325 cattle, 425 calves and 100 sheep.

. 15.50 18.50 +. [email protected]

|ing north of the Ohio received $4.60 | contract.

Hogs, sheep and lambs sold at steady prices at the Indianapolis a day, those working south received $4.20.

- in acceptance by the operators of

| was elimination of the 40-cent dif- _..| ferential

| GOOD To CHOICE NOGA: (S300) LOCAL ISSUES Nominal quotations furnished by Indianapolis securities dealers: STOCKS Bid. Asked. ents Mn Corp Corp com.... gh eee AS ofp. BIG. o--.. 3 : Sows 25 : Ne masxivasnens ny *: Jong PO 14.1 41 40 450 pounds ...ceeeiene. M10 ee BT pounce Swe aaa aes [email protected] dis Medium to Good 105% TR [email protected] | Cons Fin Co hw .. ¥ i 1 is a Pt. Wayne "y Jagan RR ot. 103% 106% Herfl-Jones ¢l A pid + 13 vas [email protected] | SOB og BH. +. [email protected]| Ind Asso 2 pfd . 53% cre + [email protected] | Ind & Mich “mee > 4% pfd....111 13 . [email protected] Indpls P& Lcom ........... 3 351% 1

iis Water

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Ind

hh 16.75 | Jeff Nat Life com ........... 3% ... 18.75 | Kingan 8 8 ++ [email protected] | Lin i « 13, 15.76 . ie . [email protected] | Marmon-Herrin n "com Cee 14% n 3 Mastic Herrington 1 14 Nati Homes com ....... 1 Ya [email protected] | N Ind Pub Serv 5%.... 1lv [email protected] | Progress Laundry Jou * of In . 43 45% [email protected] | Pub Berve of Ind i'a Sand woe 100%2 101% .. 1525@1825(80 Ind G & E 4.8% pid ..... 110% . «« [email protected] | Stokely-Van Camp pfd ...... 21Y 22 Stokaiy.van osm oy vasars nN Be au ea. neem u. Le Machine Som s 4 Co 5% ... .“ Cows (all weights) Union Title com .. Rein American Loan 4%s 55 . [email protected] Bonds BE on a mnhan essere rans 6.5038.25 Cg Loan 4%s 60 ...... 97 eens or Fertilizer 5s M ernens 98 .e ch ot Com Bide $i 81 renner 4 . itizsens el 4%a8 61 ...... 1 “es Sood (al Yeughts) ........ [email protected]| columbia Club 1%s 58 ...... “wo. Barc ansevansisinse [email protected] & . EL. [email protected] wa Cutter and common ...... oT 11.00 2% CALVES (420) Good and choice ees. [email protected] 1 108 medium ..... [email protected] seve ‘ Bos JRGISI Kad ri welt Jur 3 ee utd and Stocker Cattle C ] Serv 8 ees s and Calves | Pub Ser ats 85 | HS er Trac Term Corp S047 ./v.. ” ds [email protected]| H J Williams Inc 5s 55 .... 98 [email protected]| _ *Ex-dividend. 14.509 16.00 14.309 16.00 U. S. STATEMENT [email protected] . ‘ 13a WASHINGTON, May 233 (U. P.) —Government expenses and receipts for the current fiscal year through y 31 com- » ia, ¥8 “This Yea Last Y ear Riss winds sues 181% s ... $58,168,844.448 $87,546,006,000 Ey 4 War spending ,333,268,309 79,208,391,452 PAB avs 37,531,078,333 39,589,113, 736 8.00 Net deficit... 20, 637, 761, 113 47,786,893, 462 ersten reese [email protected] | Cash balance . 18,035, 938,260 9,760, 387, 390 13.00014.00| Public debt. . 272,984, 730, 837 237,914,031,975 [email protected] | Gold reserve. . 20,245, 345.08], 557 20,270,692,003 TRUCK WHEAT “INDIANAPOLIS CLEA CLEARING “HOUSE oo Hage... aaranseineas 4 SAT. INCORPORATIONS

Preid Larman Corp. sso .. Washington

st. NN Golesal esale and retail furniture, etc.

113% | fense mediation board recommende " |such elimination and the recom- + | mendation was accepted. i year contract was signed, giving all

“|a day and one week's vacation with |

operated by big steel companies) |

..|as successive truces and negotia-| + | tions were carried on.

... {ing contract for 30 days during ne- «++. |gotiations. The miners demanded

pay scale with a 40 cent differential in pay rates between northern and southern miners. The dividing line| was the Ohjo river, Miners work-|which resulted in the signing’ of a It called for $1.50 a day increase raising the daily pay to {$8.50. The agreement called for an | brought | |eight-hour day and portal-to-portal |

In 1934 negotiations

k. Vealers dropped about the seven-hour day and the pay. Fifteen minutes was cut off | Pred Jennewein, Louisville,

| five- day week. Pay was raised to the miners’ lunch time which meant $5 a day for northern miners: and that the miners got paid for 45 $4.60 for southern miners. | minutes fate} time. A two-year. agreement was signed | in 1935 which raised the basic pay| IN 1944 thes he a few short-| 50 cents a day for all miners. In'jce4 ‘strikes of supervisory workers 1937 wages were boosted an addi-| but al it 7! tional 50 cents a day and, for the Put in general it was a year 0

| first time, the operators agreed to| Peace in the mines,

pay time-and-a-half for overtime. On May 1, 1945, anthracite miners The negotiations in 1939 resulted | struck demanding a pay increase of $1.79 a day. * After three weeks the |

the union shop, but no increase In issue was settled Witlr a pay boost |

wages. lof $1.37% a day for travel time.

: - Last September soft coal tie-ups

IN APRIL, .1941, the miners] : stopped work while negotiations occurred when supervisory workers

walked out, demanding recognition were in progress. They were out | nearly a month. The basic issue of their.union which was organized y on by a branch of District 50. Theobetween northern and | | retically ‘it was not a part of the The national de- | United Mine Workers but John L. al | Lewis earvied on Ye negotiations.

southern miners.

THE BASIC ISSUE was union recognition, but they also asked pay increases which would provide a weekly average of around $50 and would stabilize rates for certain jobs. The operators refused to negotiate while the workers were on |strike, Mr. Lewis called off the {strike in mid-October. The current strike started April {1, although a two-weeks truce was declared May 13. Mr. Lewis has not made clear his whole demands | but his first objective is a welfare|

A two-| soft coal miners a base pay of $7

{a flat pay of $20. : | In the fall of 1941 miners in the { “captive” mines (those owned and

struck for a union shop. | Work stoppages occurred inter- | {mittently from Sept. 15 to Dec. 7|

A mediation board voted 9 to 2

against the closed shop on Nov. 10.| =.=.

would administer it. The operators already have agreed to pay the miners some $3 million ~ ” . IN APRIL, 1943, operators and miners agreed to extend the exist-

NEW AID FOR BLIND WASHINGTON—BIlind persons in factories are using a new elec-

$2 a day increase and portal-to-portal pay. No settlement was reached in that period so work stopped May 1 for four days. The government seized the mines and

sounds the size of objects near them.

th miners resumed work pending] eement. The truce lasted until Listen vo May 31 «

The miners walked out dgain | June 1 for five days and the gov-

“BUSINESS HIGHLIGHTS”

ernment again seized the mines, | b Another 15-day truce was effected. | Worril] Lynch, Pierce, Feaner & Beans At the end of this time, the miners | ’ struck again and the government! Every night again seized the mines. A further! truce was declared until Oct. 31. Monday through Friday

A fourth strike was called Nov. 1.

[fund to be paid by a 7 per cent pay- | This would amount to! {about $70 million and would be paid | wholly by the operators, Mr, lewss)

for holiday pay during part of 1945. |

tronic device that tells by varying |

WFBM—10:30 P. M.

y| The solid fuels administrator (Harold Ickes) carried’ on negotiations

ke.

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ill

Chas. C: Peek

for Diamond Vil

You buy wisely and well when you chase a diamond here. We offer the peas finest in quality at prices that are right!

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Easy Terms Arranged

Chas. (. ih

New Location . 136 W, WASH, ST.

Indiana Theater Bldg. AL PRICES INCLUDE FEDERAL TAX

Sorippa-Howa WASHINGTON, May 23. — Julius A. Krug, 235-pound secretary of the interior, is taking over the nation's 3000 soft-coal mines closed more than two months ago by 230-pound John L. Lew . This is thi&e“Cap” Krug who succeeded Harold L. Ickes in the interior department last February, He had just returned from a quick trip

Books

The following new books have been placed in the business branch of the Indianapolis public library:

“THE WILDCATTERS: AN INFORMAL HISTORY OF OIL HUNTING IN AMERICA,"by Samuel W. Tait Jr.

“SALARY AND WAGE ADMINISTRATION,” by Ralph W. Ells,

“NATIONAL POWER AND THE STRUCTURE OF FOREIGN TRADE,” by Albert O. Hirshman. “ALUMINUM: AN INDUSTIRAL MARKETING APPRAISAL,” by Nathan H. Engle.

“THE VETERAN AND HIS FU-

TURE JOB,” by James H. Bedford.

RETAILERS ACQUIRE | ALL HY-PURE: STOCK

CINCINNATI, O,, May 23 (U.P). —All stock in the Hy-Pure Laboratories Inc., wholesale manufacturing druggists of Cincinnati, to-| day was owned by 235 retailers. | Sale of the corporation was revealed by officers who said the re-| tailers had owned minority stock | [in the closed corporation. They; | purchased the remaining and con- | trolling stock from Mrs. Elsa Joseph, | | widow of the founder, Samuel! Joseph, for an undisclosed amount. | Herman Meuller of Cincinnati! was named chairman of the board of directors. Other board mem- | bers include A. J. Schuttmeyer, St.! { Louis; John Pantzer, Indianapolis; | Ky. | | William Whelton, Akron, O., and L.| Melvin Reid, Dayton, O.

to the Virgin islands and Plerto Rico “when President — Truman or= dered him to assume direction of soft-coal pits, maintaining ‘ “customary working conditions and union bargaining rights” subject only to the proviso that union activities “do not interfere with operation of the mines.”

a few years ago he wanted to get out of Washington and out of government, now hunches his shoulders under a vast and complex gavernment load. Worked in College “Cap” Krug worked his way through the University of Wisconsin, where he played football and took a master’s degree in utilities management. The federal communications commission brought him to Washington in 1935 as a public utilities expert. As a result of his investigations of the American Telephone and Telephone Co., long-distance telephone tolls were reduced. “Cap” returned to Madison, Wis., convinced Washington was “more interested in social reform than in doing a good job.”

rnessee-”

[both government and private comThus “Cap” Krug, who sald only

He came back by way of the Ten“whose thier; David Lilienthal, took & fancy to the hardworking young giant sand made“him chief power engineer of TVA. That authorized Krug to purchase privaté power companies, 8 mission he executed so well that

panies concluded their deals in amity,

Middle-of -Roader Front“these purchases Mr. Krug formed a philosophy: “It is best | not to give either public ownership | or private - ownership too much | rope.” He was making a reputation that still sticks for being a middle- | of-the-roader who fought for the | public interest without closing his | mind to private corporation arguments, By 1941, Mr. Krug was power chief of the office of production management, When his Clinton, Tenn. draft board classified him 1-A, he quit his job and became a lieuténant-commander in the navy. He was within hours of sailing: for combat zone when President Roosevelt sent for him. Cmdr, Krug was

THURSDAY, MAY 23, 1946

Middle-of- Reader Cap Krug’ To Boss Coal Mines for U. S.

Julius A. Krug

wanted on the war production board. After directing priorities control of the board he was advanced to its chairmanship and became a consulting engineer here. He was out of government until last February.

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