Indianapolis Times, Indianapolis, Marion County, 12 November 1946 — Page 10

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MINE W

Airline Pilots lots Dim Hope of Peace With New Proposal.

By UNITED PRESS The government was informed today that the C. IL 0.1s counting on its assistance in its next wage drive. C. 1. O. sources pointed out that Reconversion Director John IL. Steelman and Secretary of Labor Lewis B. Schwellenbach have agreed that take-home pay declined despite 1046 pay boosts. The C. I. O. was reported to feel that ' Mr. Steelman, Schwellenbach and even President | Truman should help, therefore, in negotiating compensating wage increases, if deadlocks occur and major strikes are called. The C. I. O. executive board meets tomorrow. at Atlantic City to plan 5 strategy for the wage drive. On! Monday the. full C. L. O. convention | will convene at Atlantic City. Lewis, Krug Face to Face With the possible deadline for a national coal strike only eight days off, Mr, Lewis and Secretary of Interior J. A. Krug prepared for their second face-to-face bargaining conference tomorrow. Some government labor officials feared that any wage Increases granted by the government to Mr. Lewis’ United Mine Workers (A.F. of L) would, in effect, be setting a minimum goal for settlement of future disputees in other industries. Mr. Krug would prefer that Lewis negotiate a new contract with private mine owners, but Mr. Lewis is negotiating directly with the government. he seeks to replace the contract signed last May after the government seized the mines. Pilots Make New Proposal Prospects for early settlement of | the 22-day-old strike of Transworld Airways pilots darkened, when the union submitted a new proposal. A federal mediator said | the proposal would cause “serious | complications.” Chairman Frank P. Douglass of | the national mediation board said

conference with David L. Behncke, | president of the airline piltos association (A. P. of L.). Mr. Douglass |

sent figures the 14,000 striking pilots could be returned to work after the strike,

GE ENDS MONOPOLY

8 DAYS AWAY

THE INDIANAPOLIS TIMES

. ‘Expects’ Government Backing

aE RT APRk safe: gv Er

TUESDAY> NOV. 12, 194

For New Raiser

Metal Lecturers

E. 8. Pearce

L. W. Sink

Two Indianapolis metallurgists

have been invited to lecture at the National Metal Congress and Industrial Exposition in Atlantic City, N. J., next Monday. Chosen by the American Society for Metals, they are E. 8S. Pearce,

Railway Service and Supply Corp, and L. W. Sink, P. R. Mallory & Co.

Other major technical societies

that will meet at the convention are the American Welding society, the Institute of Metals and the iron and steel divisions of the American Secretary | Institute of Mining and Metallurgical Engineers,

and the American Industrial Radium and X-Ray society. Local chapters of these organizations are expected to send delegates to the affair at which more than 20,000 metals scientists are expected [to attend.

URGES HOUSING CONTROLS END

Would Benefit Says Real Estate Head.

By NED BROOKS Scripps-Howard Staff Writer

ATLANTIC CITY, Nov, 12.—Veterans’ housing needs will be met sooner if the government's whole program of controls is scrapped and private enterprise entrusted with the job, President Boyd T. Barnard of the National Association of Real Estate Boards said today, “If the building industry is given

a chance, the country will see a big!Y

change in six months and the real

|edge will be off the shortage in a |b

year,” Mr. Barnard declared in an interview. “Veterans and everyone else will benefit. Veterans’ organizations are beginning to see that they'll get the best results in a free economy and

the new union proposal came at a there will be little complaint from

{them when the government's mis- | guided efforts are abandoned.”

Mr. Barnard said it was unlikely planned to meet today with Paul {that the organization's convention | Richter, TWA executive vice presi- NOW being held here will call for | api Railways com.....

dent. He asked Mr. Richter to pre- the resignation of Housing ,Expeshowing how rapidly |diter Wilson W. Wyatt, as several

Veterans

6. M. BOOSTS PRICE ON CARS

Immediate Increase of $100 Is Announced.

DETROIT, Nov. 12 (U, P.) .—General Motors Corp. announced yesterday that factory list prices on all G.M. cars and most trucks produced in the United States have been increased $100. The increase is effective immediately. The price increase was announced by G. M. President C. E. Wilson. He said the adjustment placed the prices of G.M. cars “in a more reasonable relation to greatly increased costs of production.” He said the price increase did not apply to larger trucks and coaches and auto parts, the prices of which had been adjusted recently, No Increase by Ford No increase is contemplated in the prices of Diesel locomotives, engines and power units, Mr. Wilson said. Adjustments on the prices of certain. household appliances will be announced later by the Frigidaire and Delco appliance divisions. Mr. Wilson's action came less than 48 hours after President Truman had lifted auto price ceilings. For the past two months G. M. has sought a $100 & car increase in its OPA ceilings. General Motors was the only auto maker to announce car price increases. Ford Motor Co. has indilcated it contemplates no price boosts, and no comment has been forthcoming from Chrysler Corp, third member of the automotive “big three.”

LOCAL ISSUES

Nominal quotations furnished by In-| dianapolis securities dealers:

STOCKS Bid Asked | Agents Fin Corp com Tha Agents Fin Corp pid 19 American States -pfd 2“ 25 American States cl A 33 ‘ 8 Ayres 412% ph ..108 cor 5 / s 80 es Bobbs-Merrill com . 15 Central Soya com 8 30 Circle Theater com 8 81 Comwith Loan 4% pid .. 102 105 | Consolidated Industries com .. 1% 1% Consolidated pid. pA oo 5 | Cons Fin Corp pid... Vn ios Delta Electric ¢om ..... 14% 18% | Electronic Lab com 3's 3a Pt Wayne & Jackson ‘RR pd 96 99 | Herfl-Jones ci a ig 14% 13 | Hook Drug Co 24 26%; Ind Asso Tel Co 2p 51 ind & Mich Elec Pe e pid 108 110% Indpls P & L com 257 21 Indpls P & L 4% pfd _....... 109 112 | Indus "Wr olis Water pfd ..... 106 jater ¢l A com 19% 21 15% Jent Nat Life com PE 7 Kingan & Co com .......... Wi

Kingan & Co pid

state boards have urged. He added, | lincoln Loan Co 5%s pid 0 »N

however, that Mr.

tion wins its fight. Rent Decontrol Proposed The 5000 dealers, brokers an

Wyatt would | Marmon-Herrington com have little left to do if the associa-

Lincoln Nat Life 5% pfd Mastic Asphalt

P R Mallory com ...... Progress Laundry com ..

d | Pub Serv of Ind com

[Pub Serv of Ind 32% pfd 98 others attending the convention are | poss Gear & Tcol com " expected to adopt resolutions de- [So Ind G & 5 43% F 3083 100% manding that all remaining con- |S ores van Campy or n 77° tokely-Van Camp com ... 25% 21 SCHENECTADY, N. Y, Nov. 12. trols except those on rents be Terre, avis Malleable - 3 3 3 : : 3 ) conse ” ~—Voluntary termination of its pat- [lifted immediately. President Tru- | United “Tel Co 8% Sahm AA 99 i ent-protected monopoly of the | man’s action in removing price [Union Title com sree. 43 . : ceilings from building materials h BONDS betatron, heavy artillery piece | 8 s has | American Loan 4Y%s 60 ...... ” . among atom smashers, was an- spurred the realtors’ drive against | {American Loan #'2s 58 ...... 97 wees " other restrictions, | Bubner Fertilizer 58 64 ...... 97 .-

nounced here today by the General Electric Co. Its seven basic patents on this machine were listed today in the register’ of patents

patent office.

will be granted without fee to edu- | cational and other non-profit institutions: Firms operated for profit will be charged a moderate | royalty. One such license has already been issued to the AllisChalmers Manufacturing Co. A betatron has been ordered by the Manhattan district project, and another by the University of Chicago. Both will be used in nuclear research,

electromagnet surrounding a doughnut shaped glass vacuum tube in which electrons are speeded up until X-rays of 100 million electron volts are produced.

BUSINESS URGED

A betatron consists of a massive!

Mr. Barnard indicated that th

control of rents which would permi

available for licensing by the U. 8. increasés up to 15 per cent until

after | Rights to build and use betatrons which ‘the ceilings would be lifted. |

January - or March, 1948

He promised the association “wil

be waiting on the capitol steps” to A | present its plan when congress re-

| turns in in January.

association would center efforts on |Columbia Club 1'as 5s . its proposal for a “cushioned” @e-

i h of Com Bldg 4'%s 61...... 98 e Citizens Ind Tel 4's 61 ....

Consol Pin 5s Hamilton Mfg Co Ss 56 Hoosier Crown 6s 56 ....... dpls Brass & Alum 5s 56. ... 07 indpis P&L 3%s 70 Indpls Railways Co 5s 67 ... 88 LX] Ind Asso Tel Co 3s 75

t

Investors Telephone 3s 61 fe 9 ] Kuhner Packing Co 4s 54 99 N Ind Pub Serv 3ips 73 105 107 Pub Sery of Ind 3's 75 105% 107% Pub Tel 4'2s 35 100 Willlamson Inc 5s 55 9 Trac Term - Corp 58 87. oo Muh 8

Vealers Hit $27 for New

High Here

Vealers jumped $2 for a new apolis stockyards today.

in Recent Years

high in recent years at the IndianTop price was $27.

Steers and heifers showed a two-day gain of 30 cents in an active

trade. lower in a fairly active market

Fat- lambs also gained $1.

Hogs dropped from 25 to 50 cents

Receipts were 11,200 hogs, 2400 cattle, 550 calves and 1700 sheep.

GOOD TO CHOICE HOGS (11,200)

| Butchers Bee! eel 120- ju pounds ...... $23 50 Good (all weights) ........ [email protected] T0 SHAPE POLICY 140- pounds 23.50 | Bausage— 160- i pounds 23.50 Good . 14 [email protected] 180- 200 pounds ... [email protected] Medium . 12.606 14.00 NEW YORK, Nov. 12 (U. P). — 200- 220 pounds 23 506:23.65 Cutter and common . [email protected] American businessmen must take 220- 240 pounds 23.50% 23.75 CALVES (580) an active part in shaping this na-| 35. 300 bounds 33 NG 05 Sood and ehotor 39.008 38.40 A 5 : | 470-3 1 8 mon n medium 15 50@ 25.1 tion's foreign policies or face an-| 340. 3 pounds ‘ 33 {Culis (75 pounds up) 12.004415.50 other “new deal” Leo D. Welch, Mediu PONOSE ven v | Feeder and Stocker Cattle and Calves treasurer of Standard Oil Co. (N.| 160- pounds ....... 23.50 Cholce Steers J), warned today at the 33d na-' Packing Sows 500- 800 pounds . 16.50@ 17.50 tional foreign trade convention Good, ta ‘Choice 22 0042 22.50 C2 pune ss herresens 15.30811.5 27 0 . 22 0042 “If the United States is to assume 3 3% nae > 22 004 + 50 300 So pounds [email protected] | the leading role in the world,” 330. 300 pounds 22.006:23.80 | yogi qn? POUNCE crerreses tod in orld,” he| 360” 400 pounds et 22 00622.25 MoS ° said, “its top-flight businessmen Good Ln Cory Pounds 12.500 1459 cannot evade their share in the ef-| 120. A00 bounds 3 aio 300-900 pounds 10.00812 50 YOu < % fort. That is the responsibility of Metio Se SHEEP (1300) bi 2B0- 550 pou 19.504 21.50 Lambs usiness, unless it is going in fou Shaughter Pigs Choice (closely sorted) 28 00 isolation, which could soon be fol. Medium to Good Good and choice 23 50@24 36 1 90- 120 pounds 21 5041 23.00 " owed by a new swing that, would ie Sh i j82 ou CATTLE (2400) Common 14.004717.50 take up where the new w deal left off,” | c hoice— Ewes (Shorn) - 900 pounds [email protected] (340d d ct | ‘900-1100 pounds ....... . [email protected]| S004 and choice + 6.008 7.06 | HOME BUILDING UP 1100-1300 pounds ......... 240.006 30.00 | SOTmon_and medium... 3.000 6.00} 0. 1500 POUDAS .iveseninven 24.0049 30 Soi | 30 IN VALUE 66.29), HERE 700- 900 pounds . vo. 17.50632 50 U. S. STATEMENT i 0 900-1100 pounds . [email protected] i \ 100-1300 pounds 18.5061 24.00 3 ome building in Indianapolis|i3o0.1500 bounds 1 a0az00| WASHINGTON. Nov. 13 (U. P.) —Govduring 1945 increased 5.9 Mediim {ernment expenses ‘and receipts for the 4 per cent 00-1100 pounds .... . 14.00617.50 | current fiscal year through Nov. 7, oo. in volume and 66.2 per cent in value 190-1300 pounds ............ [email protected] | Pred WIth & YUL JRL past year ommon 1 over 200. | Expenses $12,046,764,721 $29,631,327,380 ph. the Bretoqing year, according | "00-1100 pounds yd + [email protected] Receipts 12,524,005,305 13,934,069.478 di eifers | Deficit 422,759,416 15,607,253, 881 ames R. Ridgway, vice president g00. soo pounds [email protected] Cush bal 6,170,582,473 . 12,706,028,118 of Investors Syndicate. 800-1000 pounds 22.0001 27.00 | Public debt 261,037543,466 © 262,778,714,330 He Good Gold reserve 20,404,383.930 20,035,1560,421 sald new homes started here 600- 800 pounds ............ 17.006 22.00 Mast year provided shelter for 2002 fori Poe [11111 RR yaaa NATOLIS CLEMING WOU, « B eae persons and that valuations of such! > 900 pounds ....... . 14.00617.00 Debits 23,030,000 residences totaled 0 300000 $2,440,080. 500- 900 pounds [email protected] FLYING ‘SHOWROOM’ ON TOUR city ranked 36th out of 310 Cows (all weights) . cities surveyed for new home vol- Medium wasann| CHICAGO, Nov. 12 (U. P.).—A| - edium

ume in 1945,

Ie utter and common anner

| Bulls (all weights)

Small Loan Companies Open 31st Annual Convention Here

A conference of district public relations chairmen opened the activities at the 31st annual convention of the Indiana Association of

Small Loan Companies today.

Walmer, credit, partment of financial inst itutions was to speak on “Organ~ization and Func- * tioning of the De- : partment,” George Saas, | public relations director, Gas & Coke Utility, “How to Be a Failure in One Easy Lesson.”

Elmer Wheeler, president, Tested Selling Institute, New York, spoke at a luncheon. His subject was “Take an Hour to Say No.” Also on today’s program in the Claypool hotel was the association's

election of officers.

At afternoon sessions, Victor G. supervisor of consumer

state de-

and

Citizens

will talk on

a

L. 8. Henderson

L. S. Henderson, president Com-

monwealth Loan Co, chairman of arrangements.

is general

Members of the entertainment

Steve Rosenbaum,

Tomorrow's Sessions

committee include Mrs. Thomas J. Umphrey, chairman, and Mesdames Fred Mahaffey, Robert C. Hamilton, Irvin W. Wesley and Paul A. poaoschmann Hancock. A ‘“get-acquainted roundup” members, wives and guests will be held from 6 p. m. until midnight. | . Shortridge High School:Dad's Club, Chairman” will be M. J. Scott, In-| Inc, 4th and N. dianapolis. Featured will be a variety show,| high school: including Duke Stern, sorcerer” ponent of jive on the sheepskin New York st,

for |

“screwball | ¥

“ex-

be Fred Carroll, vice president, State Finance Corp. South Bend; Hal -M.\ Wagner, advertising manager, Local Loan Oo. Chicago; Thomas’ B. Meyer, personnel director, Interstate Loan Corp., Evansville; Paul L. Selby, executive vice president, American Association of Small Loan Companies, Washington, D. C.; Leo M. Gardner, state association counsel, and Irvin Wesley, executive vice .president Lincoln Loan Co., Indianapolis.

perintendent, White Cross hospital Columbus, O., will speak at a luncheon. His subject will be “Formula for Freedom.”

INCORPORATIONS

Bldg. Corp, 920 Circle Indianapolis; agent, C. Beverin I Buscamantl, same address; 1500 share

ar value; Chas. L. Buschmann, & Sr Buschmann, Charles E. Busch- | mann, Geo. H. Buschmann, Helene Brod-

ridian sts, lis; no A tal bios SA to promote and | support benevolent, educational, athletic nd patriotic undertakings of Shortridge Denton J McVey, Stewart

Indian-

Gordon, Frank H. Cox Piremen's Post No. 42, Inc., Dept. of Indiana, The American Legion, 301 E. Indianapolis; no capital

ock; Francis BE. Commons, Louis Bauer,

fiddle: Charlie Lane, “song stylist,” i Fulmer, and Howdy Davidson, pianist. “Pappy” Newport and his orchestra will play for dancing.

TRUCK WHEAT

Indianapolis flour mills and grain ele- | vators are paying $2.03 per bushel for No.

Tomorrow's sessions will ‘include 1 red wheat (other grades on their merit);

panel discussions and the annual | SFR now, No. 2 yellow, $1.19 per bushel, banquet. - Speakers at the discussions will tyre.

No. 1 white, $1.49 per bushel; oats, | testing 34 pounds or better, 77c per bushel; No.,2 yellow soybeans, 14 per cent mois-

Dr. Carroll H. Lewis, general su- 8

TAX CALLED NO INFLATION CURB

Economist Proposes 1948

Budget of $25 Billion.

CHICAGO, Nov. 12 (U, P).—An economist today assailed arguments that high taxes curb inflation. He proposed a federal budget of approximately $25 billion which, he sald, could be realized for the fiscal year 1948. Dr. Harley L. Lutz, professor of public finance at Princeton university, denounced as “unsound” the logic of proponents of high taxes who contend that as more of each person's income is taken in taxes, less is left for use in bidding up prices and paying fancy prices for oods

Instead, he said, the purchasing

'| power taken from taxpayers is spent

by the government and “there is no diminution of the over-all amount of available purchasing power.” “Figures to Shoot at” Dr. Lutz, addressing the 26th annual meeting of the American Pe-

H troleum Institute, outlined a federal

budget of between $24 billion and $28 billion, which he set forth as “some figures to shoot at” for 1948. He admitted that only an “extreme optimist” would say that a budget below $25 billion is within the realm of early practical possibility, but said he proposed such a figure to show that all essential federal commitments and obligations could be met within it. Dr. Lutz said that high taxes, rather than curbing inflationary tendencies,

chasing power from those who are N.

not planning to spend any large part of it on consumption goods and pay it out to persons who will.”

He contended that the larger in-

“actually remove pur-|?

comes, if taxed less heavily, would flow in greater proportion into thvestment, add to the nation’s productivity and promote the increase of supplies of goods.

Dr, Lutz said that reduction of $100 billion in 1945 to $41,500,000,000 in 1947 looked impressive, but “from here on the going gets progressively

the national spending from

tougher.”

“Every billion that is lopped off the total from now on will cost tears and sweat, if not blood,” he “But it will mean almost $2 more out of every $100 in taxable income for the citizen to spend

said.

rather than the government.”

23,000 OPA WORKERS

FARM BUREAU T0 MEET HERE

State Rural Youth Group to Convene Also.

More than 5000 tood preducers

are expected do attend the 28th annual state convention of the Ine diana Farm Bureau which opens tomorrow in the Murat Temple. More than 6000 members of the Indiana Rural Youth will hold the morning session of its 9th annual convention, in the war memorial,

The Farm Bureau's afternoon sese JOBS sion will be in the Murat,

WASHINGTON, Nov. 12 (U. P.). Paul A. Porter today promised ai but 10,000 of OPA’s 33,000 employees that their pay checks will continue until

—Price ‘Administrator

Jan. 1.

Even after that date, he said sources said 13,000—will be needed to administer rent control and rice and “for an indefinite

“many” workers—other

sugar programs period.”

Close to 10,000 OPA field employees were to get 30-day notices

today.

No more pink slips will be handed out before Nov.'30, Mr. Porter

said in a statement to all workers.

Governor Gates will address the initial session of the Farm Bureay convention, along with Hassil E. Schenck, president of the state bureau, Hovde to Speak

J. E. Stanford, executive secretary of the Kentucky Farm Bureau Fede eration, will be principal speaker at the two-day meeting. Other speakers include, Donald Kirkpatrick, general counsel for the American Farm Bureau Federation, Chicago; Joe Cansion, Y. M. C. A, secretary, St. Louis, Mo.; I. H. Hull, president Farm Bureau Co-opera= tive Association, Inc.; Frederick Li, Hovde, president of Purdue univere sity, and Larry Brandon, vice presi« dent, Indiana Farm Bureau.

NEW FIRMS AND

Albert P. Stewart, Purdue choral music director, will be in charge of the convention singing.

'

PARTNERSHIPS Poros Rober tr ha 5555. EE ay:

LOCAL PRODUCE

Leo So drut Uh, ya Px nter velopment Cor minol st, Rodeo theater. Joseph Cantor, PRICES FOR PLANT DELIVERY 025 N eridian st.; Leonard Cantor,| Poultry: Hens, 4'2 lbs. and over, 3 :

122 E ; Lester Irens, chants Bank hia dg. Progress Coal Co, R.

1313 M

Bt. Joe: Martha E. DATiSOn, 1528 er-

under, 20c; Leghorn hens, 20c; springs, friers, broilers and roosters Soe: 1agnorR Springs, 3 25e; Toosiers, 16¢; ducks,

20, Box 868, eese ultr 4 Indianapolis. ‘Ind. Coal ov. Poxiack: | than No. 1. Doulley, 40 laf Box 544, Indianapolis . Butterfat: No. 1, 83¢c; No. 2, 80c. Williams Furnitu Co., 2523-34 W.| Eggs: Current receipts, 54 Ibs. to case, Michigan. FPurn are business. Bernard T.i36c. grade A large, 50c; medium, 43¢f Gates, 3327 N. Ilinois. grade B large, Prod no grads, 25c.

3 bi 14.95 Douglas DC-4, outfitted by Standard @132.75 | s 00a 92s Oil of Indiana as a mobile display |

We Offer

DELTA COLLIERIES CORPORATION

% ‘Sinking Fund Debentures Priced 97% and Accrued Interest

SecuRrTIES CorpoRATION

Investment Bankers Member Chicage Stock Exchange

Lliicoln $535

800 cities.

Merchant, is the first flying show room to be used, “PLAN NEW PLANE MIDDLETOWN, two. place all-metal spinproof

sonal plane, will go into early in 1947, the nounced here

"we

we .

| unit, took off today on. a tour of Company officials said their plane, called the Atlas Sky |

O., Nov. 12 (U P.)~~The Aeronca “chum,” a new | perroduction Corp. an- |

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