Indianapolis Times, Indianapolis, Marion County, 10 September 1946 — Page 20

TALK STH

"= Faptor in Wall Street Slump.

a . { By T. W. KIENLEN, United Press Financial Writer

NEW YORK, Sept. 10.—Fears that labor troubles may become more widespread—and throw the national economy still further out of gear—

nave become a major stock market factor.

| Stockholders—~who only a Yew weeks ago were cheerily optimistic in face of production delays—have begun to change their ideas. Thé heavy selling that struck the market yesterday was a demonstration

FEARS CUT STOCKS

Disappointment at Industry's Poor Postwar Showing Is

TRANSMITS 8 PROGRAMS ON ONE AIR BAND

Growing Needs of Newspapers.

By ROBERT J. SULLIVAN United Press Financial Writer

more separate radio broadcast programs can now be transmitted over

‘of this new viewpoint, Wall street analysts emphasized that—for the first time—labor troubles have begun to influence trading in the market to any great extent, The strike of truckers. in New york and New Jersey and tugboat-|of another war. men in New York and the nation. qf. 4 # wide strike of maritime workers have built up fears that greater strikes with still more far-reaching consequences may develop, 5 Vo. ; SUCH STRIKES, stockholders fear, could herald the start of ane other depression. Not so grgat as the: one that began in 1929, perhaps—but still greater than even the least optimistic had anticipated a few months ago, But while selling yesterday-—and prior to that on Friday of last week - —was traceable to concern over . Jaber troubles, the break in values last; Tuesday and Wednesday came suddenly and without warning.

$16,600,000,000.

tories - of manufacturers,

employment.

ened. buying power.

things he will be offered.

A SIZABLE amount of recent selling has been the direct result of disclosure by the, department of commerce of a sharp rise in invenThese have reached a record peak of $18-, broadcasting, the method allows al-

a single frequency as a result of a

has been in the neighborhood of |new method announced today by|

International Telephone & Tele-

But this decline in values Is|grapn Co. rooted in concern over other things than labor .troubles and the fear tionary” system has “the potentials

ities of an entirely new approach to the art of radio broadcasting” and also 1s “ideally suited to the growing needs of newspapers an news services.” . Known as pulse time multiplex

locations of various. channels to

Any further rise, economists have teletype, voice or photo-facsimile warned, will mean slackening of circuits in any combination of local, This would have [national or international coverage. many consequent adverse repercus- More specialized adaptations will be sions in smaller payrolls and less- found ‘to suit the requirements of

stock exchanges, banks, brokerage

And without income, the average firms, and advertising agencies. man just can't buy all the new

Increase Radio Time The P. T. M. radio broadcasting

More technical aspects of the|c..io, hen applied to regular decline include ‘reports in Wall| mercial broadcasting, will in-

Adaptations Suited for

NEW YORK, Sept. 10.—Eight or

The company said the “revolu-|

fs i Q rs

THE INDIANAPOLIS TIMES

v : y oa

- \

7 TUESDAY, SEPT. 10, 1948

s Radio Potentialities

iplex Broadcasting Revive

4 | Battleship ‘Indiana ‘Is Retired to Reserve

Officials of the 13th naval district at Seattle said today the battleship Indiana rwould be placed in commission in reserve at ceremonies at the Puget So und naval shipyard, Bremerton, tomorrow. The ship was constructed at Newport News, Va. and was laun ched shortly before the Japanese struck Pearl Harbor, The Indiana took part in the occupation of the Gil bert islands and was a member of Task Force 58. One of the few modern battleships to see action from the start of the war t6 the end, the Indiana covered 234,886 wartime miles and burned 36,432,000 gallons of fuel oll. :

STOKELY SETS PROFIT RECORD

Earns $5 Million in Year

May 31, 1945. Net income . figure for the past Is Your year, however, included a non-||

recurring item of $1,360,000, received | from sale of a bullding in Indianapolis.

dend requirements, net income for| |

/ | the fiscal year ended in May was] Jreauie possible equivalent to $5.28 per share on|{ COINSURANCE can 911,928 outstanding shares of $1-par| ’ value common stock. Earnings in|f] lower your rate, permit the previous year were equal to|ps lo MORE

w said

the

ties

Sales and net earnings of StokelyVan Camp, Inc, during the fiscal year ended May 31 were the highest in the company’s history, the packing firm announced today. Net income for the year was $5,204912, as compared to $3,145,069 for the previous year, while sales for the year were $88,060,000 as to $67,950,000 in the fiscal year ended

$3.02 per common share on a per|§ capita basis. ke

$27,709,500 in 1045 to $15,132,084 in i:

Capital Structure Simplified Mr. Stokely said that during the past fiscal year the company had simplified its capital structure and obtained needed production facili-

zations and acquiring the assets of another, The mergers involved the Colum-

bus Foods Corp, W. R. Roach Co,

sets of the Gibson Canning Co. at Gibson City, Ill, were purchased by the company, » * Earnings figures in the company’s report dg not include earnings of two subsidiaries, S8tokely-Van Camp of Canada, Ltd, and Hawaiian Fruit Packers, Ltd, Mr, Stokely said.

Ending May 31.

Watch Repairing

10-DAY SERVICE |

EO —

Insurance Rate “Too High?

Earn $2 Per Share More ter allowing for preferred divi-

insurance at no greater . B. Stokely Jr., firm president, |§ government sales dropped from |§

cost. Ask us for

lete details. fiscal year just ended. mp

GRAIN DEALERS MUTUAL AGENCY, INC. 1740 N, Meridian St. WA bash 2456

by merging with three organi-

“

Jay it with flowers”

On those occasions when the spoken word seems inadequate—let beautiful flowers express your sentiments.

+ The ALLIED FLORISTS Assn. . « . of Indianapolis FLOWERS TELEGRAPHED ANYWHERE tse?

and the Hoopeston Canning Co. As- °

DIAMOND SOLITAIRES

With and witheut side diamonds,

Spar ly diamonds set fn 0 gs of yellow goig Precious

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ST.

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: . ee | But hindsight was shown that|Street that “the government has|....ce by at least eight-fold the SAYS BUSINESS DROP Sh bh ! 4 b : the “bull market of the 1940s” has|embarked on another anti-inflation|yme gyajlable on the air, thereby Ig t ncrease oO 0gs S ended - with such a thunderclap [rogram also the lack of margin|,..nitting a wide variety of prolargely as the result of heavy sell-| trading. grams, including many which, be- CAN BE PREVENTED N s d + L. St k a vy ” ” . ng for the accounts of refugees— AS TO THE first, Wall Street|C®Us¢ they appeal to special audi- Oo e a ocCa oC yar S a ed by events in Europe where feared that the administration in ences, now are crowded off the air] WASHINGTON, Sept. 10 (U. P). they feared world war III was| =... oo to avold serious infla-|°F relegated to the least desirable Chairman Edwin G. Nourse of] Continued low receipts of cattle at Indianapolis stockyards today ling. tion a enforce too many harm- hours. | President “Truman's council of eco-| made it difficult to base any price changes. "" ful restrictions on the national It is probable, however, according nomic advisers is. “apprehensive” There was a slight increase in the number of hogs received at the SELLING chiefly was for economy to engineers of federal telecom-| about a future depression but hopes | market but it did not affect the ceiling price of $16.25. Vealers remained the account of French, Dutch and| my. second was the result of the munications laboratories, a subsid-|the council can work out a program | steady with yesterday's higher. closing prices. Swiss holders—and to some extent|, .. |. .yo ove by the federal|i8ry of I. T. & T., that one of theito prevent one. Sheep and lambs. stayed firm in the limited market. continues. reserve board in ordering 100 per first applications of P. T. M. multi-| “Mr. Nourse, former vice president GOOD “10. CHOICE HOGS. d Added to this was selling by some| cont margins, or in reality no|PleX broadcasting in the United of the Brookings institution, said SHOICE Hote OW) NO INCREASE SEEN Americans in disgust at the fail- margins at all by requiring out- States will be for special business good management by government,| 139. 140 pounds ure of U. 8. industry to make great- right purchase of all stocks there- uses. : | industry and labor was essential to J%0 160 pounds IN SUGAR RATIONS er headway during the summer just after The. company demonstrated eight head off a business recession. 180- 200 pounds WASHINGTON, Sept. 10 (U. P.) closing. X This ban on margin trading, broadcasts at a press preview of thef If there is good management, he| 220- 220 Pope 7 Xi ’ pie In the bull market that got under|wnich Wall Street hears may be DEW System. The broadcasts were|said, “we will carry through; if} 40-210 pounds —OPA said yesterday that there way in April, 1942, the value Of|jified this fall, prevents specula- made at the I T. & T. offices here there is bad management, there will 350 300 Pounds probably will be no increase in listed stocks rose from $31,449,206 |y,rc from giving support to a de-|8nd transmitted to Nutley, N. J, be a smash-up.” Soars Pounds sugar rations before next spring, 904 on April 30, 1942 to $84,043,436, | ()ining market. Furthermore, it where they were seen and heard| The economic council was set up| 160- 220 pounds ..:....... «+ [email protected] | if then. $32 on May 31, 1046. The peak of] : later in the day by newsmen. The undef the so-called full employment Packing Sews . . tile v Artually wiped out short-selling— : y 4 the movement was then reached. |always a ik on a sharp break|Programs ranged from news and act. It will make. recommendations OL Plo 16.28 Ww agency Si civilian Alia By July of this year, however,| since shorts must cover when Pictures to a regularly scheduled|to Mr. Truman by December on| 300-350 POUNCE : ey EI Sepal Fi thege va! - > radi . intai h - > a fos ws aes a Ta I sh I {tn St w So y -Du n eceiver : v y 400- 450 pounds ..iiecvees « 16.28 other type of domestic consumers’ : - - 500 POUNAS ereesecesees 25 Atiother = $4,750000,000 had been NEW FIRMS AND Using electronic tubes and tech- Mr. Nourse declined Io say i), Pounds i between now and the end of the pared off. PARTNERSHIPS [niques capable of measuring frac. Whether hie thought the nation al-| 350. §50 pounds ............ 18.00816.00| you. / we tions of & millionth of & second and{T°23Y Was on the road io an infla-|, __ Ssusbter Pies And the present outlook is/that ICE the start of September, determini tionary boom to be followed by de-| go. 120 pounds . 16.28 h ’ hovev i Wimple aVictory, 901 W. 28th st. Writ- Tr ng the exact time lapse flation and “bust” Whil a T 5 there will be no extra supplies to vever, selling has accelerated.|, -', icles and publishing. Mary High-| between offe pulse and the next, pa oe Priges CATILE B90) pass around in the first part of It peached such a pace that in the baugh, 901 W. 28th st. are now rising, he said, it is debat- |Cholce— d | : these eight programs were fused b , 700- 900 POUNAS +yvvvvaesees 18.50G 20.30 | 1947, OPA said. / Arlington Crystal, 5059 E. 38th. Ceramic y 50@ four trading sessions prior to tO-|gecorated glassware. Robert M. Zaiser,|P, T. M. for multiplex broadcasting able whether this is inflation. 900-1100 POUNAS +.ovuvvsenen [email protected] 4 ay. the loss has been nearly $7,000,- (R. R12. Box M5-D; Wm. H. Zaier,|yrononisted on a single band of mi- 00 Bounds ei Gey TRUCK “WHEAT p: 000,000, This was a cumulative "Pearl Motor Inn, 19 8. Delaware st. | crowave frequencies and picked up LOCAL ISSUES py d [email protected] : _ loss from July 31 until today of Parking lot. Andrew O. Jackson, 321 N.|} op" purapoli'e antenna at the 900-1100 pounds. 11rresill [email protected] Yoh a a na stain dl aware, \ h + @ ndianapoiis our mills n Ta ele- | * Theretore, VEE Su hE Silt | Netley ibcrmtarien. hon Soto tuzioen or oe| BL JOULE 101 IESE sli EY te Jaf J fn te N . a a . at | rades eir | Beat ox rs: hing Su) warket Sole Beechvood dr." Greenwood. Ind ;| At the laboratories, a permanent- e STOCKS abet rr ry PORES ureiviisnne [email protected] | merits) corn, No. L yellow shelled. S50 ’ Joh 7” A - nN % \ i shel, 0. , $1.80; Rb mii wean] a Ind. aylkenberg y hotel, Green-/ly tuned receiver offered any one of Agents Pin Corp com . 4 eae Ji00 1500 peunds sevucsenyuiy [email protected] Ds. he 2 Pond pogo 70e per HOOSIER PAINT d | the eight programs desired through Aberin “Loan 41 0. oo | 700-1100 pounds vee. 9.50912.00 | bushel. an U.S. STATEMENT a push-button arrangement. Any|American States ptd .. 35" | Chotce—. niters LINOLEUM CO. | combination in the eight programs, | Ampecican Sates ¢ A «+++ '600- 800 pounds ............. [email protected] : | WASHINGTON, Sept. 10 (U. P.)—Goy-|OF 8ll eight, as desired, are available AYTARIIe Col’ com. ne 3) | SOE1000 pounds uuiuvirseres 13.50620.30 ba Maiching Box $700 j ernment pl Penses apd Fecel ts n the | through the use of extension audio Bel R Stk 3 ta. hu S00-1000 hy GEOR 13001850 tching x 0 {current fiscal year throug ept. com- "ee - pounds ....ieeseene 5.50@ 18. v ; equipment. Bobbs-Merrill #% pid . evs. | Medtum— -war qualit [pared with a yeas age Bobbs-Merrill com. .... oh a 2 E. pre 1 y Fo | Expenses ... "Sata A Yea i EE | Central a pros eH + 28 0-300 pounds Serfaty 12308195 “i Washington RI1-8315 jRxpel oe $ 5311436908 | 6051 367 806 PAS {*Circle Theater com >. ....... 74 .. | "500- 900 pounds [email protected] mend | Net deficit |. 2.026.585.062 11.419,988.422 SENGER RECORD {Comwith Loan 4% pid. ...103%a 1050 Cows Gil weights) : Sr —————————— Cash balance 8,675525,157 638,696 { Consolidated Industries com.. 1% 1% [Good ........... [email protected] a Public debt 265.873,120.388 263.224.880.683 : IS SET ‘BY .AIR LINE Consolidated, industries pid. a BINA cavacers son irsivine 11.00413.00 ET THE Jy yeserve 287,00, ii in ID 1 Electri Gian: 154 1714 Cutter and common ......... [email protected] | INDIANAPO CLE Eastern Air Lines during August | Betronie. Lab . Waogsvenahe 3a 4s Caner ‘Bulls (all weights) 0a 350 “Lincoln” Habit | gearines POLIS CLEARING HO sey0w0\ carried 150,000 passengers, - the | my jut, Jackson RR pit. 100s Mabe meet. = _ 12.00013.55 Ao Cleaning Pebits ..... av ava a eas 15,736,000 : : rane) A * ay, ood (all weights) ..... eee 13. 1 smor ror vo ik 1196,000 | greatest number in the lines’ his-| Hook Drug Co com... ......... 24 «oo | Sausage— | ] ie UR- CAMERAS 3 Ind As ei Co 2 ptd 52 Le TY. NG CO q AND PHOTO ‘SUPPLIES AT | LOCAL PRODUCE tory, gn ; and general man- Ind & Mich Eee 44% pd. 108% 1% i el Ma 10 mail 0 PLUS : ager Capt. e Rickenbacker has |;¢P# Com _..uiiian Cutter and common .* [email protected] {Indpls P & L 4% pfd......... 1 : y ; 3 |i EI announced. In August, 1945, 85,000] indinavoiis Water pid -..... + CALVES (338) x PRICES FOR PLANT DELIVERY Indpls Water cl A com 20 23 | Good and choice viiyes.. [email protected] | Poultry: Hens, 4'z lbs. and over, 28c: passengers were carried. Indpls RAUWAYS COM........ i8%; 17 [Common and medium . 11.50% 18.00 JEWELRY co Inc | ea gin ne hi Passenger Tevenus during the Jef Nas Lilt som - n cus nd Stocker Cattle ane aim : i ON wes NiSiNer o » | Leghorn springs. 2c; roosters, 16c; ducks, | montis was 67 per cent above the | Kinsan 4 = oa re al ” . Sous » 3 A ic, geese, 10c No oultry, 1 th i 1 il Ch acmoss FROM THE STATE HOUSE | 326 graded egus. A large, Jos 4 medium, | Previous. August, Capt, Rickenback- | Hincoin oan Co A Di er ui; | 300 300 pounds Si; ris oe 18.50@17:50 [he 2 Curent socetotac Ib. Yo case er said, as a total of 3,725,000 miles | Marmon Herrington COM. uuss 3 94 800-1050 POUNAS ...eves ose [email protected] | | . iv se, y ASIC ASPOMIL ... co iivnnnne i 3 Being you: Pusto Srohlems ED Grade A large, ic: medium, “tic were flown. Natl mes com’ rae o.lv 1 oh 500- 800 pounds ............. u 0018.80, MOTH-PROOFING I ned Specialists. UBL ’ ry tle Lo Tm — Ne EY 3%. srrainas a: 108 |, edium-- hey “ . : . Butterfat: No. ‘1, 67¢c- No. 2, °6 . NDATY - COM, | av 714 | “500~ y . - ——— weteriat: Nog i, wre: No. 3. oe EXPECT LIGHT VOTE | Bub ger of nd ‘som... 3 7 Common" an ut u erv of In % Pp . a 101% - RIBAS + sseanierines > * ‘IN COLORADO PRIMARY | ross Gear & Tool com ...... 30 33 SHEEP (873) ONLY Safeguard SoInd O & E 4.3% pid......110 113 Erie tphars | PLAIN DRESS, y . DENVER Sept. 10 (U. P). 5lo- | Stokeiy-Van Camp pfd oii. 20% 21% » —C Stokely-Van Camp com ...... 24! 14 | Good and choice ....... . 1.002 8.00] YOUR VISION | rado citizens voted today in a pri- | Terre Haute afeanle sesses an ER Common and medium . 6.00@ 7.00 | SUIT, OR 69 Know .the Condition of foi | mary election expected to register | CHER a SPRING LAMBS Eyes, We will oxamine them | the lightest vote in years | Onion Pee com eens serene “ +... | Choice and closely sorted .... 19.00 COAT EACH reine one Tener’ || The ballot carried'o ly head-| ‘Ex-dividend Dios i urnish proper glasses | *d ‘only one head- Soy + 13.50@li. necessary. line contest—the Democratic NOM-| xmertcan’ Loan Som A COMMON ...ovuvc-onrvireresee [email protected] dE eo tu IR SAN yy Hie | Amariesn’ Loan 4955 60 vive. " {ination for congressman from the| American Loan 4'as 55....... 98 ‘ee PREDICTS HOMES OF STEEL FOR ADDRESS OF NEAREST STORE \ / We Are Closed Wednesday Afternoon |key first district, comprising th Buhner Fertilizer 5s 84 ...... 98 "ee €) , p g the| Ch of com Bldg 4'as 61 ..... 96 : NEW YORK, Sept. 10 (U, P.).— CALL WABASH 4521 |city of Denver. John A. Carroll, | Citizens Ind Tel 4%s 61 103 ' : . . TOIL | Columbia Club 1%s 58 ...... 84 +i2:|The American public within 10 years . {dapper former district attorney, op- |«Gonsol Fin 5s 66 9 ri lea fe, 2 a y MP . eee 99 «+. |will have the opportunity to buy posed Thomas W. Névin, one-t Hamilton Mig. Co. 5s 5..... 99 shes | | State Biigiator. ’ “Me | Hoosier Crown Ss 8. 9 ....|mass-produced all-steel homes for | § sla ; ndpls Vas wees 1UD “> { : »- : ; | Indpls Railways Co 5s 81 oo. 94%. ~97i, | 88 little as $5000 to $6000, Steelways, | | Shrew oun, Corner MASINI Bray termina Dung Do Ce a RO Id Atte eoons io 1 ay»... pWlication GB ihe American Iron | Kuhner Packing Co 48 54 ....100 | & Steel Institute, predicted today. | - 4 106Y% . — . -

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‘Annwer to Previous Pussle British Official

he WIC] | LSS) [Celle I AY] HORIZONTAL 56 Sheen

REVERSE IOIMIEINEREe SIE TIAL IE] | CAA [=i RIE EE So Ro § IL [L.)

CO) TIC IDE OL] FISIARS LUN ISIE

3 Ww 1.5 Pictured . 7 Fruit RTE] wows Prem British minis = VERTICAL . 5 “ter of supply 1 Jocular 11 Constellation 2 Either VIC 13 Revokes 3 Boo wf hf BYIEWIE fo! 3 Out of (prefix) 4 Negative word ; — ——— JO i ) 5 Lament 18 Soothsayer 42 Prince Pots 6 False god 20 Everlasting 43 Speed contest 17 Electrical unit 7 Diminutive 23 Increase 44 Railway (ab ) 19 Accomplishes of Leonard 27 Accomplished : iid 31 Trumpet 8 Disorder 28 Health resort 45 Tree fluid mouth 9 Mystic 29 Age 46 Facility 29 Glut syllable 30 Atmosphere 49 Amount (ab.) 24 East (Fr) 10African fly 33 Ago 50 Short steep / 2 12 Grab 34 Moorish. tabor 53 Tungsten 25 Employ 14 Paradise 36 Less heated (ab.) 26 Requires © + 16 Symbol for 27 Girl's name 55 Symbol for

29 Vehement : tantalum 31 Tear 32 Edge 33 Mammal 35 Genus of palms - 38 Indonesian of Mindanao 39 Negative prefix 40 Bargatn event 42 Makes i mistakes 46 Short jacket 4PTuberculosis (ab,) 48 Sanskrit epic 51 Music note ; 52 He controls British eee energy studies and plans .

41 God of love

for

EIALLIL IED)

TUESD

3-Da

s Tin BLOOMIN ~—More tha) Indiana uni Beta Theta ere for. a ept. 13 to the Pi chaj Greek-letter The chap August, 184 celebration v More than in the arm In charge program for Albrecht R. Dailey, Carl Alltop, Eug Wilde, of Ir Kunkel Jr., Ewing, New Halleck, Re Sembower, | THe cele around the Bloomington shape of a house, erecte £7