Indianapolis Times, Indianapolis, Marion County, 23 September 1946 — Page 6
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By ROBERT W. HEFTY
United Press Stat Correspondent
DETROIT, ‘Sept. 23.—Announcement that both Ford and General
NEAT OUTLOOK NOT $0 £000
Reach New High.
By GEORGE THIEM Times Special Writer © CHICAGO, Sept. 23.—~More ham-
burger next month, a fairly good run of pork by December and gradually beef supplies in 1947, This was the forecast meat ex-
had been forced to abandon plans for production of a new low-!perts offered today as packing plant
auto came as a jolt to thousands of motorists and would-be
is who tannot afford new cars at their present levels.
_ It also left the door wide open
for any of the smaller makers who
they can scrape together enough materials to turn out an accept-
CHASE: “WAGES KEY TO PROFITS’
a §
Issues New Report on U. S. : Prosperity.
NEW YORK, Sept. 23 (U. P.).— | Stuart Chase, a writer on economic | subjects, said today that high wages | are the key to high profits. “The figures prove,” he said in a new report—"For This We Fought” EE to be issued by the Twentieth Oentury fund, “that high wages and | . high profits go together. | “Today, in 19046, in a wave of strikes,” he added, “managers are
share of the ever-growing market for inexpensive cars. General Motors Corp. announced | last April 9 that it had formed a new Chevrolet light car division which it hoped would ‘begin turning out hundreds of lightweight, lowpriced cars daily around the middle of 1047. Three days later the Ford Motor Co. followed suit. Youthful President Henry Ford II disclosed that the first entirely new Ford model in nearly two decades would be unveiled “some time after January, | 1947."
No Chrysler Announcement
Neither company revealed what the projected light cars would cost,
able machine in time to corner a
shutdowns-reached an all-time high. Increasing arrivals of cattle in western markets don’t spell more steaks and Tib roasts. Most of these are range steers and heifers from the short grass. The majority will go into corn belt feed lots for fattening and finishing. This will take from 60 days to 12 months, depending upon the age of the animal. The season when ranchers cull their cow herds and market cattle off grass will reach its peak in October and early November. Substitutes” for Meat Some of these | be converted | sausage. The younger ones will not be {ready for slaughter until some time in 1947.
older beeves will into hamburger and
Packing Plant Shutdowns,
‘Steady Prices Clean Out
{ hurry the
but the experts predicted both | ‘Until then, chicken, turkey and would retail for around $1000—the | fish will be substitutes on many pre-war price droves of motorists | {consumer tables. Fortunately, there have clamored for since prices of |are more than average stocks of
{striving to keep profits up by keeping wages down; labor leaders are © striving to keep wages up by keep- | {ing profits down: Both sides are engaged in a hopeless task. “In the power age, wages and] profits tend to be functions of each | i other; they both go up—as in the : war; or they both go down—as in| i the depression.” i The report by Mr. Chase pointed |
current models began Shooting up- (all three. | ward. ‘he wildlife service reported That was the tipoft that a hot [stocks of frozen fish and shellfish {race for the low-price market was| totaled 152 million pounds on Sept (underway. Rumors flew that Chrys-|1, a record for this time of year. {ler Corp., third member of the “big | Of this volume, 130 million pounds
or Trend To Be Discussed
Robert Gray, New York, vice president of Fuel Oil and Fuel Heat magazine, will speak at the fall convention of the Indiana Independent Petroleum °° association in Hotel Severin Thursday and Friday. : Mr, Gray will talk on “OilHeating Trends” at the Friday afternoon session, More than 500 Hoosier marketeers, suppliers Mr. Gray and guests are expected to attend the convention. R. J. Rogers, Indiahapolis, president, will open the parley Thursday afternoon.
SOLD FAST HERE
Local Yards in Hurry.
prices cleaned out in a 575 cattle received at Indianapolis stockyards. today. i Receipts in other divisions con- | tinued to be light with 625 hogs, 400 calves and 650 sheep arriving. Prices in these classes were steady to strong with vealers at, $18.50 down and hogs at $16.25.
Steady
GOOD TO CHOICE Butchers
pounds pounds pounds pounds pounds pounds
HOGS (625)
140160-
140 160 180 200 220 24u
three,” also was ready to. take up | was salt water fish, nine million
the chase, but no formal announce- | pounds lake and river fish and 13] 2
{million shellfish.
ment ensued. | The daily catch of fresh fish is
As things turned out, Chrysler's | ment spokesman said,
until the |
the ime miracles of | far- -sighted than either of the other | icin caf ho nt Amer hr “rs rs 100 4 ambler. i both build and maintain high levels E
president, K. T. Keller, was more heavy and will continue, a, govern-
|arrival of cold weather.
| Copyright, 1948, by The Indianapolis Times and The Chicago | Daily News, Inc.
. of peacetime prosperity. None of the tasks ahead—keep-
$hg the business cycle in line, pro- enough getting parts for its exist-
: widing full employment, spreading social seéurity, administering the debt and easing atomic energy into | Industry—will be easy, Mr. Chase admitted, but, “in comparison with i the physical achievements of making 297,000 airplanes from scratch, helping to beat Germany with one hand. and Japan with the other, i they are kindergarten work.”
LOCAL PRODUCE
PRICES FOR PLANT DELIVERY : Hens, 4% Ibs. and over, . Leghorn hens, 27c;
Zenon rng 33c; roosters, 16c; ducks, geese, 10c; No. 2 poultry, 4c less
— No. 1 Eggs: Current receipts, 54 Ibs. to ease. 3c; grade A large, 50c; medium, 45c; 30c; grade B large, 42¢c; no grade,
30c, 1946
Light Car Plans Halted At any rate, G. M. had trouble
LOCAL ISSUES
Nominal quotations furnished by In-| dianapolis securities dealers:
STOCKS
ing models and eventually was forced to announce, with regrets, that preparations for manufacture lot the light Chevrolet had. been halted. President C. E. Wilson said the action was taken specifically | because of shortages of lead, copper, | pig iron and flat rolled steel. Ford again followed immediately with a similar announcement, although it came in an off-hand manner—at the tail-end of a routine list of sales .appointments—and disclosed that the Ford light car division actually had been discontinued a month earlier. Willys Plans Low-Cost Car
Ford spokesmen refused to com-
Bid Asked Agents Fin Corp com Agents Fin Corp pfd .. American Loan 4% 55........ *American States pid American States cl A L 8 Ayres 44% pid.. | Ayrshire Col com ‘Beli R Stk Yds com Belt R Btk Yds pfd . *Bobbs-Merriil 42 pfd Bobbs-Merrill com Central Soya com Circle Theater com *Comwith Loan 4% pfd Consolidated Industries com . Consolidated Industries pfd Cons Fin Corp pid Delta Electric com Electronic Lab com Ft Wayne & Jackson RR ptd Herfl-Jones cl A pid *Hook Drug Co com Ind Asso ia Co 2 i & Mich E Indpls *Indpls
Butterfat: No. 1 'Tle; No. 3, T4e.
TRUCK WHEAT
ar vision would be maintained intact
34 pounds or better,
A DUNCE?
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Dn
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se CROWN'S Good > . OLD ROUGH DRY WEARING APPAREL WASHED, STARCHED AND DRIED ele FLAT PIECES IRONED to 7 Pounds . Pounds ......
.19¢ 8Y,¢
ment on whether plans existed to d re-establish the light car program, | Indpin® Water cb: & pd _ but Wilson: made it clear that G M.'s | indps Rallways com
project had been shelved only tem-|iimean. & Co com porarily, *
‘until such time as the|Kingan & Co ptd Lincoln Loan Co 5'z pfd . material situation may have been! Lincoln Nat Life 55 pfd armon Herrington com .... r | Clarified.” Mastic Asphalt He said the Chevrolet light car di- { Natl Homes com tase N Ind Pub Serv 5% ., N. Ind Pub Serv com. P R Mallory com Progress Laundry com Pub Serv of Ind com Pub ‘Serv of Ind 3'2% pid .. | *Ross Gear & Tool com ... So Ind G & E 437, pid *Stokely-Van Camp pid . Stokely-Van Camp com Terre Haute Malleable ... 8 Machine com United Tel Co 5% . Union Title com .. *Ex-dividend,
and that research, engineering and development would continue. G. M. did, however, halt construction of its huge new light car plant near Parma, O. So far the only small manufacturer which has indicated it will bid for the low-price market is an old hand at the job—Willys-Overland of Toledo, currently making only civilian jeeps. Willys has disclosed plans to resume output of an inexpensive car as soon as possible. Crosley has made a few low-price cars but its output has been so small that only 14 new Crosleys were registered throughout the United States in the first six months of this year.
BONDS American Loan 42s 60 . American Loan 4l3s 55 . Buhner Fertilizer 5s 54 .. Ch of Com Bldg 4'2s 61... Citizens Ind Tel 4'2s 61 . Columbia Club gi 5s Consol Fin 5s Hamilton Mfg pA 5s 56 hes Hoosier Crown 5s 56 Indpls P&L 3'3s 70 Indpls Railways Co 5s 57 Ind Asso Tel Co 3s 75 Investors Telephone 3s 61 Kuhner Packing Co 4s 54 § Ind Pub Serv 3's 13 Pub Serv of Ind 3as 9 . | Pub Tel 4's 35 Trae Term Corp 5s 57 H Jw wi illlams Inc 5s 55
LIONS TO HEAR HOOVER
100 Donald Hoover, assistant to the
"| Choice—
"| 1200-1500 . | Medium —
, | 1100-1300 «| 700-1100 Va i,
| Common —
a | Good and choice
. | Medium—
270 300 330 330- 360 Medium - - 220 pounds Packing Sows
| Good we Choice— pounds pounds pounds pounds
pounds pounds pounds pounds
pounds pounds pounds 15.00@ 16.00 Slaughter Pigs Medium to Good — 90- 120 pounds
CATTLE
16.28 (575)
700- 900 900-1100 1100-1300 1300-1500 Good 700- 900 900-1100 1100-1300
. [email protected] . 18.50@20:30 .. [email protected] ... [email protected]
[email protected] | 1700431850 | 17.00@ 18 .5¢C | [email protected]
[email protected] [email protected]
' [email protected] Heifers |
pounds . 18 50@ 20.30 pounds . 18. [email protected]
pounds ........e... [email protected] pounds ............ [email protected]
Medium — 500- 900 [email protected] [email protected]
pounds pounds pounds pounds
pounds pounds pounds pounds 700-1100 pounds . pounds . Cemmon — pounds
600- 800 800-1000
pounds 500- 900 pounds Cows (all weights) Good > 13 Medium 1 Cutter .and common Canner
3 14.50 1 23s 13.00 8 50 7.00Q@ Bulls (all weights)
13.00913.58 12:[email protected] [email protected] [email protected] . [email protected] {Common and medium . [email protected] | Culls [email protected]
Feeder and Stocker Cattle and Calves Steers
Beef — Good ay weights) Sausag re ui . Medium . Cutter and common
CALVES (400)
Chofcé— 500- 800 pounds .. “rae 800-1050 pounds ....... s..0. [email protected] Good— 500- 800 pounds [email protected] 800-1050 pounds [email protected] [email protected]
500-1000 pounds Common 500- 900 pounds SHEEP (650) Ewes (shorn) Jood and choice Common and meaium SPRING LAMBS Good and choice Medium and good Common
8.00@ 9.00
INDIANAPOLIS CLEARING
Clearings Debits
HOUSE $ 5,278,000 | 21,010,000
editor of The Times, will be the principal speaker at the Wednesday luncheon meeting of the Lions club {8t the Claypool hotel. His topic will {be “It's Our Business,” the column he writes on the editorial page of The Times.
A million dollar expansion pro-
search and production facilities was| announced today by Moore division of Allied Laboratories, Inc., 1200 Madison ave, | Property west of the present.
{the acreage devoted to operations. | Three buildings will be added, larg-
tory structure, The latter four to five stories high.
will be
laboratories and {brick building on quired property, | A. third building will be erected to the southwest of the present plani, company officials added. It {will be used for research in peni|cillin, streptomycin and tyrothricin | “In addition to local expansion, the firm is completing two new
a the
three-story newly ac-
FAMOUS STANDARD
Automatic
jiionsviile A third building there | recently was enlarged. Company officers are C. N. Angst, | president; EK. PF. Valentine, eXecy-
gram doubling pharmaceutical re-|
the Pitman-|
{plant has been acquired, doubling
{est to be an -addition to the labora- |
The addition will connect present |
buildings at its laboratories near |
$1 Million Expansion Program| Announced by Pitman-Moore
F. V. Hawkins, M, ili
tive vice president; secretary, and L. | treasurer,
Watch & Jewel Repairing | QUICK GUARANTEED SERVICE— Unusual Low Prices OPEN UNTIL 7:30 P.M. DAILY
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“Beautiful Cleaning
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RIGHT IN TOUR HOME BY OUR TRAINED OPERATORS
GUARANTEED *INSURED
THE INDIANAPOLIS TIMES
| Total
|during the past year than ever be-
575 CATTLE ARE
MONDAY, SEPT. 23,
FARM FINANCIAL DEBTS DROP OFF
Decrease Noted Despite More Bank Credit.
CHICAGO, Sept. 23 (U. farm debt is decreasing steadily even though the--nation’s farmers used more bank credit
BP)
fore, A, G. Brown, deputy manager of the American Bankers assogiation, reported to the association's agricultural commission, Mr. Brown, director of the commission, quoted results of a national survey of bank agricultural credit services for 1945-46 and federal figures show that the financial position of agriculture continues to improve. He made his report. as the bankers association opened its 72d annual convention here.
Urges Tax Equalization While 2,532,150 farmers, 42.1 per cent of the nation's total, borrowed $3,488,562,000 during 1945, the out-
Diremen Meet
Here Tomorrow
Tne att research developments products will‘be discussed 9 Sap ftw convention of the Indiana Dairy Products association at the Claypool hotel, opening tomorrow for" three days. The sessions will open tomorrow night with a dinner. meeting of the association directors. The convention program will get under way . Wednesday noon Dr. Hovde with a luncheon program at which Senator Homer E. Capehart will speak on “Washington and Business Men.” Dr. Frederick L. Hovde, president of Purdue university, will be the principal speaker at the annual banquet Wednesday night. He will speak on “Purdue and Its Relation to the Dairy Industry.” A dozen other speakers will fill Wednesday afternoon and Thursday sessions, with technical demon-
standing volume on January 1, 1946, was only $1,873,735,000, Brown said. | The 13,000 banks which serve agriculture had an additional $9,314,229,000 available had there been a need for further .loans, he added. In a symposium on state banks, Edward Elliott, president of the | Security-First National Bank, Los |
strations of equipment highlighting the program. —————————————————
SAYS RAILROADS SEE HEAVY LOSS AHEAD
WASHINGTON, Sept. 23 .(U. P.).
Angeles, urged equalization of tax-|—James M. Souby, general solicitor ation between state and national of the Association of American banks to help preserve the dual] | Railroads, said today that railroads banking system. lexpect to lose more than $400 He recommended that the states million on their passenger traffic adopt. a tax policy which would next year. He appeared before the encourage banks to increase their Interstate Commerce commission | capital structure for the protection which ‘is hearing final arguments! of the public. : this week on a railroad request for About Charter Choice la 25 per cent increase “Banks are privately owned rates.
business enterprises and they should
pay their fair share of taxes,” Mr. 2 SERVICE ‘STATIONS Elliott said, but asserted that “in| ROBBED, $48 TAKEN »
in freight |
ARGENTINA FORCE; PAINT PRICE BOO
Wins Fight to Make U. S, rats Cost of Linseed After Going on Selling Strike.
By ERNIE HILL Times Foreign Service BUENOS AIRES, Sept. 23.—Argentina has won again cost of paint is going up in the United. States. The Argentines played it shrewdly. A year ago, Argentina was desperately in need of fuel oil for heating and for factories. A deal was made, whereby the United States agreed to ship petroleum. In turn, the United States 22 siseed, Which was needed to make paint. As soon as the fuel oil shortage | was eased, the cagy Argentines cut down on linseed shipments. Higher | prices were demanded. But, the combined foods Sound refused to pay more. Shipm this year are considerably Pen ARDMORE, Pa., Sept. 23 (U. P), those of last year. Argentina has ~Funeral services will be held tobeen on a selling strike. ' morrow for Arthur C. Dorrance Sr.,
Boost Is Granted 53, president of the Camphell Soup But, now, a price ‘increase has | Co.
been granted. The international] Mr. Dorrance, a native of Bristol, emergency food council has signed | | Fa., died at his home here Saturday |a new over-all contract with Argen- | adunted. 1 'tina. The price of linseed, sunflower- | e Eraguale rom Massachusetts seed, peanut oil and cottonseed is| | Institute of Technology in 1914 and |up an estimated 60 per cent. | joined the Campbell Co. as 8 chemiShipments are to be resumed on cal engineer, a Jager scale. | He became president of the Frags - 8S. will get 26 per cent of | co-American Co. a subsidjary, A J. s linseed for the rest of 1917 and served as an officey in on |the year. ‘This amounts to 32 000 coast artillery during the first world tons. | war. He returned to the Campbell Britain will get 27,000 tons, and|Co. after the war and was elected France 26,000. Eight other countries president in 1930. will get smaller amounts. * The Soviet Union will get noth- | ing. The Russians do not belong to the international emergency council. Tried to Chisel In Six months ago, the Russians ried to chisel in on the linseed yusiness. They managed to get 7400 ens through the combined foods sar. e U. S. was not getting nearly
Now the
HEAD OF CAMPBELL
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“SOUP COMPANY DIES -
some states a state bank pays| larger taxes than if it were a ng-! tional bank.”
Two holdups were reported oot he as it wanted. But that was service stations in the city over the because Argentina refused to sell at week-end. |current prices.
DOUBLE YOUR MONEY BACK.
DIAPER LAUNDRY—2 Deliveries Weekly
“Where all other factors are| Joe R. Rush, attendant at a staequal, such tax discrimination tion at 1400 N. West st., told police against state banks tends to,the!that two men approached him at! choice of a federal charter. in-!2 a. m. today and after asking him stead of a state charter, which tends for change for a dollar, pulled a to weaken the state banking sys-|gun. After taking $17, they drove tem,” .'he said. “The choice of a south on N. West st. national bank charter instead.of a! Arthur Croshers, a mechanic at state bank charter should not de-! a service station, 15 N. West st. pend on tax discrimination.” reported a man entered the station | SEE | early yesterday and with one hand|
"FARMERS OFFERED TANKS FOR -STORAG
WASHINGTON, Sept. 23 (U. P.). —The war assets administration to-
money. He took $31 and told the attendant to stay in a back room of the building.
|day offered to farmers 7000 collapsi- REPORTS FIRING SHOT |
ble water tanks, suitable for temporary storage of grain, for $50 each. Administrator Robert M. Littlejohn said the tanks, made of canvas, could be used successfully by Midwest wheat' growers whose! bumper crops have overflowed bins.
AT HOME PROWLER
Wallace Brydon, 24 McClain pl, told police that he had fired a revolver at a man who was prowling about his home early today. Brydon said he could not be sure oo ES —__ whether the shot had struck the DRUG OUTPUT AMPLE man whom he described as being! ATLANTIC CITY, N. J, Sept. 23| about 24, and attired in a dark (U. P.)—The war has left the drug | sweater. manufacturing industry with a “fantastic capacity to produce goods” which will assure a continued rise in the American standard of living, Al B. Benson, Boston, ~ president of the National President Truman. He spent the Wholesale Druggists’ association! night aboard the presidential yacht said today. | Williamsburg on the Potomac.
TRUMAN SLEEPS ON ‘YACHT WASHINGTON, Sept. 23 (U. P.). —It was pretty warm and humid in Washington last night but not for
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lin- his pocket demanded Crsohers’|
| Agricultural experts say the new {contract will tend to ease the short|age of paint in the U. S. around the | first of next year. Paint, however, probably will re- - main on the shortage list until U. S. | stocks are increased. Exports from Argentina are going to be spread | into so many countries that none! will get enough.
f Copyxi ht. 1946, by The Indianapoli 3 Times | | The he Chicago Da Daily News,
KILLS FRIEND AFTER DREAM OF GROCERIES CAMDEN, N.'J, Sept. 23 (U. P).|W ——
—William Davis, an 80-year-old re-| cluse living at Mantua Creek 12 Listen lo I; "BUSINESS HIGHLIGHTS" by
miles south of here, dreamed Merrill Lynch, Pierce, Fenner & Beane
Dvir ER SERVICE INC. CH. 2125 Ask You Physicien
tp ——————————————————————————— SHERWIN-WILLIAMS
As @ Paint for very Purposg
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{someone gave him a basket of groceries. | When he awoke and couldn't find them, he’ thought—he had been robbed. He grabbed his shotgun! and rushed over to the home of a| friend, Andrew Pierman, 62, and | fired a fatal blast into his head,! police said. Chester Tredway, a former military policeman, disarmed Davis and turned him over to police.
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