Indianapolis Times, Indianapolis, Marion County, 14 May 1947 — Page 15

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vo of the inde-Hos—Eagle-Lion

from a joke to suddenly found the old studios ms. Universal xational'’s man, 0 actual master

» Britain's Mr, Jriiversal-Intere he distributes agle-Lion’s dise America. erties with the completely new 18s, in cracking come close to tials are J. A,

- over his newly ith the sachems closeting hime. nk had a little

» World Sunday ay have stum-

st industry, but the catechism,

» , impossible. 0 have carried n. After tying s and in other factory strike, ional assembly. ment, Premier f their cabinet voted against resentation in - remier’s action nore, perhaps, lists to main1 their caucus

yj believed the ionwide strike 5 far, nothing Renault work t crisis—voted Instead of a on pilece-work, 8 not to be & it was a vice ley have been ystem for some itirely on his , may become

dable clue

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Committee Members Carriers to Get Along

By CHARLES T. LUCEY «Howard Staff Writer

' {| WASHINGTON, May 14—Sena bers are taking a critical view of

airmail’ subsidy treatment for the airlines. aeronautics board to apply a tougher yardstick on financial aid. In questioning CAB members in recent hearings they raised the

question whether it wasn't time for help from the U. 8. treasury. The law provides for financial ald to the airlines until they become Jelf-sufficient. But “the senators had trouble finding out where actual mail-carrying pay left off and subsidies began. Believes Law Outrageous Senator Clyde Reed (R. Kan) said he believed the law was an “outrageous” one as far as the handling’'of public’ money is concerned. Acknowledging assertions that aviation 1s an “infany industry” and needs help, Sena Kenneth McKellar (D. Tenn.) observed that 25 vears is a long time for infants, even in an industry like this.”

eibied

Believe It's Time for Air With Less Help from U.S.

te appropriations committee memwhat they regard as over-generous They are urging the civil

the airlines to get along with less

H —— edb cmpens House Wool Bill WASHINGTON, May 14 (U. P.), —Rep. Charles A. Halleck (R. Ind.) and a seven-member subcommittee today ‘tackled the job of breaking loose from the house rules committee stalled wool legislation. Wool growers have been demanding legislative action since the sen-

ate approved a bill authorizing the agriculture department to continue

Oswald Ryan, aeronautics board | meber, sought to point out that] subsidies had been paid to railroads, | too, and sald he did not know how | long these subsidies had lasted. | “As long as they could hold]

them,” Senator McKellar replied.

said he thought the airmail rate should he determined properly by

the board. The subsidy over this 5, all foreign wool held in stock by |

amount should be asked of congress by the board rather that having airmail pay and subsidy lumped together and requested by the opstoffice department, as at present. Companies Declare Dividends

Because ald transport was & NeW |... t5 the rules committee to send!

industry, Senator Leverelt Salton-

to pay a support price of approximately 42 cents a pound for un-

cleaned domestic wool through 1948. |

When the bill was sent to the house, the agriculture committee

plate studded with nails. Arrow plerces tire without loss of air. casing of the special punctureright, inventor Frank Herzegh of new tire fits any standard rim,

the company. announced.

At left (above), puncture-proof, tubeless is run over points to where full length of Cen

sealing rubber back ef the tread.

NO MORE FLATS—The tubeless automobile the opening of the automoti Goodrich Co., of Akron, O. built into the casing. Now in test service on a number of private automobiles,

Taft-Ellender Bill To Boom $5000 Homes

Proposes fo Liberalize FHA Insurance HE Make Low Cost Housing Attractive fo Investors : “Last of a Series

ter -sketch shows location

» -

Shaker Heights, O. shows how

ve era—has been pe

Seeks

; Spripps-Howard WASHINGTON, May 14—The “

inserted a controversia] section. The committee version would permit the

{ e t im | Senator Guy Cordon (R. ore) | oor tary of agriculiure ty pose,

import duties of up to 50 per-cent on wool. And it also would put a floor tax of a corresponding amount

U. 8. manufacturers. When that was sent to the house rules committee, it hit » snag. A majority of the rules committee was opposed to the bill as approved by the agriculture committee. And it

(a legislative measure to the house

was given a great deal of discre-

tion in setting rates. But he Won-! he rules committee for about six stead of 25 and

dered whether the time had not come to restrict this discretion. Mr. Ryan told the senators, who said they had noticed that some companies were declaring dividends, that their reyenues were carefully screened in establishment of mail pay rates. He insisted that the industry is “still in the developmental stage.” Last “year, in the post-war transition period, most of the airlines lost money > “There is no reason why the board could not rearrange those rates under the law,” Senator McKellar said. “I think it largely depends on your recommendations in the matter.” He said he believed that “we are acting too generously with the government money under these circumstances.” Too Great Authority

thority in setting mail pay.

tor Reed agreed. ‘But he said this might not be so under- the new airmail rate, reduced last year from eight cents to five cents. ; The senator said: that although postoffice airmail revenues exceeded the amount paid the airlines by

volume of mail a $6 million loss would have been shown.

According to ‘estimates, airmail Monday at Marott increase hotel.

volume would have to

about 400 per cent for the postoffice

department to do as well financial-

ly under the five-cent rate as undér’ try in Transition.” Up to this The lecture will A follow a dinner

six-cent rate has been proposed in meeting at 6:30

the eight-cent rate. point it has not quite doubled.

congress. -

Cleared of Charges

That He Praised Hitler served three months in Germany WASHINGTON, May 14 (U. P.). On a special technical survey com-| —Stanton Griffis, U. S. ambassador mittee during the war and attended

| The bill has been: bottled up in

| weeks.

Eugene M. Howard i 3 . | Bugene M. Howard of the Fletcher Trust Co. today was new president of the Indianapolis chapter of the American Institute of Banking. | Other officers, elected last night at the annual meeting, are Carl W. Seet Jr, Indiana National bank, vice president; Edward McCallie, Union - Trust Co. secretary, and

Joseph - A. Kiefer, Merchants National bank, treasurer.

Governors are Frank E. Cramer, American National bank; Leland Senator Reed supported the view |crawford apd Roy T. Dilley, Fletchthat the board has too great au-ler Trust Co.; William C: Graul, National bank; C. A. When it was pointed out that last; Hollingsworth, Bankers Trust [o.; year the amount received from sale Paul E. Jones, Indiana Trust Co.;| of airmail stamps gave the post-|Lioyd M. Rinehart, Merchants Naoffice department a profit over the tional bank; Albert C. Backemeyer, amount paid out to airlines, Sena- Fidelity Trust Co. and George A.

Merchants

| Miller, American National bank. Editor to Address Metal Society

{

! ! T. W. Lippert, directing editor of $190 million, if the five-cent rate “Iron Age,” will speak at a meeting had been in effect with the same lof the local chapter of the Amer- bi

ican Society for Metals at 8 p. m.

Mr. Lippert will speak on “Indus-

|p. m. Associated with “Iron - Age” since 11933; Mr. Lippert

Mr. Lippert

to Poland, has been cleared of the atomic bomb. tests at Bikini.

charges that he praised Adolf Hit-

ler and admired Nazi principles

according to Chalrman Arthur H. Vandenberg of the senate foreign

relations committe.

proved yesterday. : the senate floor for confirmation,

on Life Insurance Policies - Low cost

TRUST CO.

gt ee me ern 2

e SHAMPOOS

Shortwave Trouble

By Seience Servier

Friday, the national bureau o

— standards warned today.

Truck Wheat

Indianapolis flour mills and grain ele

1 truck wheat; new No 2 $1.58 per bushel; No. 2 white corn, $1.5 per bushel; oats testing 24 pounds o better, 89c; yellow soybeans 14 per cen moisture, $2.90 per bushel

SAVE ON BEAUTY SERVICE eo PERMANENTS

e FACIALS © MANICURES ¢ FINGER WAVES

Personal Supervision and Modern Equipment

International Beauty School

342 E. Wash. MA-7131

WASHINGTON, May 14. — Dis-turbances.may-interfere with recepMr. Grifi$ nomination was ap- tion of shortwave radio “broadcasts It now goes to from Europe todav, tomorrow and

vators are paying $2.50 per bushel for No. yellow corn,

scribed by authorities as the area of

| the range of most private building.

{are in need of homes within those cost limits.

The Taft-Ellender-Wagner bill at |izing the system of federal housing administration insurance. It aims lat making low cost homes more attractive to investors and easier for llow and middle-income families to { buy. ) | It would insure vate institutions up to 95 per cent Instead of the present 90.per cent. |give borrowers 30 years to pay incut the allowable t.

the loans of pri-|

interest rate from 5 to 4 per cen Thus a buyer with $250 in cash | could contract to buy a $5250 home| land the ggvernment would assume {$5000 of the risk. The more lenient ! terms would apply only to low-cost

| the usual FHA terms. War System Permanent The system in effect would make ‘permanent the liberal insurance | granted for wartime housing and continued under the veterans emergency housing act. This was to run to June 30, but the house has just voted to extend it until March 31, 1048. ' _ To encourage builders to enter the low-cost field, FHA would be permitted to insure their commitments up to 85 per cent of a project's cost. . Large-scale rental or mutual ownership projects would be insurad up to 90 per cent of

maximum interest of 4 per cent. Some government ’ authorities have questioned the wisdom - of easier credit, contending it might encourage home-hunters to borrow beyond their means, with disastrous results in a deflationary period. | These authorities also say the low | interest rates required of insured | lenders might work a hardship on depositors --and reduce the safety margin for the institutions. Encouragement for Banks Another feature of the T-E-W/

: . | Il would establish a billion-dollar insurance” ' de=

system of “yield signed to encourage banks, insur- | ance companjes and other large in- | vestors to put funds into big rental | projects. Participants = would be guaranteed a minimum, return of [2% per cent in return for making |investments with an anticipated

[viele of 3% to 4 per cent.

i |

appropriated annually for government research into new mate! and building techniques, grants for

{and market conditions. A fund of $500 million would be created for loans to cities to assist 'them in redevelopment of slums land in. assembling land for major 'housing projects. Outright grants !for these urban programs would begin at $4 million in the first year and reach $20 million in the fifth year. With matching local funds, ¢. sponsors say the federal aid would | acquisition and development. Help for the Farmer The bill also carries something for “|the farmers. A $250 million fund of agriculture for 33-year, 4 per [cent loans to farm families who | could-not otherwise obtain adequate = | housing. | Outright grants which would {reach a maximum of $10 million at

8 r t

5 East M

NEW YORK

‘ 4

Write for our

. FOUNDED 1913

SERVING THE INVESTOR

THOMSON & MSKINNON

BROKERS IN SECURITIES AND COMMODITIES

. Phone: MArket 3501 CHICAGO

vi / . in 36 cities in the United States and Canada

Weekly Stock Survey

STOCK EXCHANGE AND

arket Street

TORONTO

OTHER PRINCIPAL

By NED BROOKS

It lies above the benefactions of publicly-assisted housing, but below |

the end of four years would be available for minor improvements on substandard fa

{areas, the bill carries grants which ‘would reach $25 million a year In Fundst would be allo-|Rutgers university, h .lon the board of governors of the year Tiaianapolls chapter of ‘the Amerrent subisidies proposed for occu-|ican Institute of Banking for many pants of low-cost public housing in| years.

t|five years. |cated on a basis similar to that pro ‘posed for the $105 million-u-

value on 40-year maturities and 8 | Insurance Corp.

An unspecified amount would be 3

local planning and studies of costs N

(cover a $1.5 billion program of land <

would be provided to the secretary In

Hogs and Sheep Stead

Staff Writer no man’s land” of housing is de-|

$5000 and $6000 homes. vet millions of American families

tempts to meet this need by liberal-

dwellings.

For non-farm housing in rural

hh | cities.

Creates National Commission

tion by and

with housing. The federal home loan bank administration, the federal housing administration and the federal pub-| lic housing authority would be reestablished as independent ager.cies! along with their subsidiary units. The home loan bank would be empowered to expand the lending rights of its state and federallythartered members to permit wider participation in the FHA ipsurance program and home loan feat of the G. I. bill of rights. Deposit insurance also would be broadened under the federal Savings & Ldan

'Lochl Issues

Nominal quotations furnished by Imdianapolis securities daealers. v x STOC

Agents Fin Corp com

rfected, according to the B. F. Secret of the tire is a special puncture-sealing rubber, a taxicab fleet, state police cars and the tires ‘will soon be available in imited quantities,

Bank Oficial Named Director

of the Fletcher Trust Co., has been elected to the firm's board of di-|merchandise rectors, Evans Woollen Jr., Flecher | States, to buy part in South America and to establish manufacturing to make the rest. Comparative cost analyses are now being made in Chicago. Meanwhile, with work started in Brazil, the company is looking ahead to surveying the field in Uruguay and Argentina for additional outlets.

947, by The Indianapolis Times Chicago Daily News, Inc.

Packard Boosts Prices $75 to $224

DETROIT, May 14 Packard Motor Co. boosted the price on all models of its cars $75 to $224 on various models today. George T. Christopher, president of Packard, said the company announced the price increase with “sincere regret.” quarter loss of $1,148,172 necessitated the increase. . Mr. Christopher’ blamed material shortages which had made the final assembly line idle 28 out of 63 working days for the loss*in profits.

Trust Co. president, today.

banking circles, Mr, Crawford has § been associated § with the company and its predecessors than 38 years.

the American Bankers association graduate school of. banking at

e {of accounting and personnel for the The measure would create & na- local banking firm for 30 years. He al housing commission headed is a former president of the India $12,000-a-year -administrator anapolis conference of Bank Audia co-ordinating council com- tors and Comptrollers. ’ | homes; others would be subject to posed of the heads of various de- me jjyves at 121 Penway and is a partments and agencies dealing yr gee of Tabernacle Presbyterian 'church.

{ture and the Purdue university agri4 cultural expeFiment. station.

- | with a 14 per cent increase in seed-

By ERNIE HILL 3 a1 Writer MON TEVIDEO, Oravuay, May 14. ~Lured by profits reported xunning

sometimes as high as 1000 per cent, scores of United States retail, oyganizations are surveying the pos-

. outlets in South America. "On the face of it, the field looks lush. But difficulties loom large in doing business of any kind in Latin

Leland Crawford, vice president| Paulo, Brasil.

announced

Prominent in

for more

A graauate of : Mr. Crawford

e has served

Mr. Crawford has been in charge

plants there

from: the

a on Market

— America, ; r : : . Company , management must tire—goal of manufacturers since | cole to bbtain land, eonstruct

buildings, get merchandise to sell, comply with complicated labor laws and get along with sometimes avaricious governments. Sears, Roebuck ought to have”the answer in a year or two at most, however, as the first invader of the potentially rich South American fleld. Sears Roebuck now has stores operating in Havana and Mexico City. It is preparing to start construction on its first twos big retail stores in Rio de Janeiro and Sao

Sears plans to export part of its

- United

(U. P)—

He said a first

employer except for employers with

located within a 30-mile radius. The senate bill would allow in-dustry-wide bargaining if both sides wished, but a strike to force an unwilling employer into industry-wide negotiations would be prohibited.

endangering the national health and safety. The senate bill first would require the appointment of fact-finding board’ without power to make settlement recommendations. Conciliation—Both bills create a new, independent mediation agency taking over functions of the labor department's conciliation service. 3 National laber relations board-— The house bill would abolish the present board and create a new board of three members; the senate board would enlarge the present three-member board to seven. Both contain provisions to separate prosecuting and judicial functions. Payments te unions—Both bills would forbid employer payments into union-controlled trust funds, prohibit the checkoff of dues without the individual consent of employees and ban certain other types of payments to union officials. Unfair labor practice of unions— Both bills would make it an unfair practice for a union to refuse to bargain or to coerce employees in the choice of a union representative. The house bill also contains a series of unfair practices regulating the relations between unions and their members. “wm Free speech—Both bills declare

less than 100 workers each in plants

would |

that unfair practice charges should

State Wheat Set

Times State Service LAFAYETTE, Ind., May 14.—Indiana’s 1047 wheat crop is expected to average 22 bushels per acre, for a total production of 34,364,000 bushels. . . The estimate, as of May 1, was released today by crop statisticians for the U. S. department of agricul-

The anticipated yield of wheat is four bushels above the average, and

ed acreage last fall over the previ-

American States pfd ..... 25 American States ¢l A .. L. 8 Ayres ¢¢'2% pwd a : Ayrshire Col tom ..........ei0 38 Belt R Stk com ..... o 35% Belt R Stk Yds i . : Bobbs-Merrill pfa ... . Bobbs-Merrill com .. 8 | Central Boya com .......ee0es 3 Circle Theater com .......... 75 ti Comwith Loan 4% pid ...... 100 1021; | Cont OCar-Na-Var ............ 3%" 3% Consolidated Industries com .. % | Consolidated Industries pfd .. 3% _ 3% Cons Fin Corp pfd ........... 97 00 Delta Electric com .......... 1413 15%] Electronic Lab com . ... ivy 3% Ft. Wayne & Jackson RR pid 87 81 Herfi-Jones cl A pfd 132 1415 Hook br com a «238% 27a Ind Asso Tel C 2 pid 49%: 51) Ind Gas & Wat com 15% 16% Ind & Mich E L 4% pid ..... 108 110 Indpls P& Leom ........ 25 27 Indpls P & L 4% pid ........ 108 110% Ind anapolis Water pfd 108 3 Indpls Water cl A com 20 21 dndpls. Railways com 12 : off Nat Life com ............ 15a 17 Kingan & Co com .......eu00 3 4% gan & Co pfd .........e00 6 80 Lincoln Nat Life ............. 52%a 5583 Lincoln Loan Co §'5 pfd ....100 ' Marmon Herrington com 6s T's

Mastic Asphalt

Natl Homes com .... 1 Ind Pub Serv 5% ......... N Ind Pub Serv com ..... wee 17% 18% P R Mallory com: . 21Ye 23% Progress Laundry com ...... 23. '.28 . Serv of Ind com ........ 40% 43 Pub Serv of Ind 3%% ........ 95 96a Ross Ciear & “Tool com ..... 32 Solnd G& E 43% pid ...... 100% 111%; Stokely-Van Camp pfd ....... 20% 22% Stokely-Van Camp com ...... 16 13 Terre Haute Malleabue . 8% 9 1 Machine com ............ 1% 2% United Tel Co 6% ............ 100 “enn Union Title com 50 aes

poNbs American Loan 4'zs 60

Columbia Club 2s 5s Consol s 66 Delta Coli 5%s 56 . Goodrich Bros. 4s Seb

61 .

Indpls Railways Co 58 67 nd Asso Tel Co 3s 75 .

P Pub Tel 4'as 55 ram arere Trae Tern Corp 8s 87 ........ *Ex-Dividend.

vio

Hog prices remained steady today, as did sheep and lambs. Steers and heifers were strong to 50 cents higher. 7 Vealers jumped another $1 to a top price of $28. GOOD TO CHOICE HOGS (8675) Good. 4 S500 ‘Butchers pounds «42. . | 120- 140 pounds ... [email protected] | \bodium. PON #3080 { 140- 160 pounds 22.00034.50| "500.7900 pounds ............ [email protected] 1: 180 bounds 28] commen - as . le 180- 300 Dounas : 34751 500 900 pounds ............ [email protected] 220- 240 pounds . 24.75 Cows (all weights) 240-.270 pounds _.. j24.2881Good ...... ciiioans coo [email protected] 270- 300 pounds .. 754 23.40 | Medium . .... oie... [email protected] 300- 330 pounds .. p23.25 | Cutter and common 12.009 15.50 W230 360 pounds [email protected]| Canner ... .. ....... .. 10.00912.00 edium-—~ 160- 220 pounds ............ 190062400 oo Bulls (all weights) ‘ Packing Sows | "Good (all weights) ........s [email protected] Good to Choice— | Bausage— 270- 300 pounds ............ [email protected] Good— .......¢.s00000 veneer [email protected] 3%- 330 Polmds Four ervmaiens 19.50G20.00 | Medium... ese [email protected] - UNAS cover vrnnne a q i | Cutter and medium ........ [email protected] 360- 4 8 ree nstanmrsy 19,[email protected] | ° 50, Aov pounils CALVES (578) | . 400- 40 pounds .iieeienens 18.00@ 18.75 | Good to choice _. ; .. [email protected] 450- 500 pounds .....eeirneis 18.00@ 19.00 | Common and medium ....... 13.00825.50 Medium — ulls. (75 pounds up) i 8.50@ 13.00 [7250- 350 pounds . ......li...s 15.00918.00 Feeder and Stocker Cattle and Calves ! Slaughter Pigs J | “ Steers 4. 90- 1320 pounds . 16.906.21.50 | op ice Choice CATTLE (1730) | 500- 800 POUNGS .....iviiins. 19.50G21.00 PORLER svi tav 24.00G 18,50 300-1050 pounds ...... reseed [email protected]

| 900 pounds 1100-1300 pounds 1300-1500 pounds

4.60

A aay 2 1300-1500 pounds ..... Nia 00 pOuRS ! wu Sama aban 1100-1300 po esr Co

1300 pounds ..i....« ’ 700-1100 ‘pounds ; HE

Al Arras usennn

[email protected] | G00d— [email protected]| 500- 800 2 27.00 800-1050 pounds, . Medium—

um: 00@ 24.00, 500-1000 pounds

19:[email protected] 19.00923.80

ier 16:[email protected]| Medium a + 1org10.00 .

pounds

{ous year, production anticipated is

age.

2{Tom C. Clark.

*|eutting prices individually - without - | fear of prosecution. .

2 |contained in a letter to housing ex- : |pediter Frank Creedon, who had

s |pared with a year ago:

‘** | Public debt 3257,863,142,726 .| Gold reserve 20,877,993,685

solTCloarIngs ivi asian

ee 11.50@ 19.50 «iv 17.50@ 19.50

27 per cent above the 1936-45 aver-

Joint Price Cuts Held

Anti-Trust Violation WASHINGTON, May 14 «U. P,. —Joint action by officials of the building industry to cut ' prices would be a violation of anvui-trust laws, according to Attorney General |

Mr. Clark added, however, that builders could confer on methods of

The attorney general's ruling was

asked Mr. Clark whether building supply producers could get together on a price reduction. U. 8. STATEMENT es

WASHINGTON, May 14 (U. P,).—Govronment expenses and receipts for the

e current fiscal year through

comeThis Year i ...$34,626,554,530 ts’ .... 35.865,082,304 2,228,507,764 Defloit 3.5... Cash balance 3;977,620,062

Last Year

$55,763,055,681 36,585,119,450

19,178,831,231 19,001,041,137 272,942,700,627 20,247,3717,706

INDIANAPOLIS CLEARING HOUSE $8,624,000 + o-19,744,900

Eh FOR 3 TO &'ERS

~ KINGSTON JR. ROLLER SKATES

; 2.595.

No clamps to injure shoes, no keys to lose . . . they “lace “securely over the foes, are strapped round the ankles. Nickel pleted. And they're ball-bearing!

At 34364000 Bu. |

ererenen vies 14.50@ 17.50 24.00 | Common : he coe. [email protected] : smEEr (0) Toys, in the Annex ; Closely Sorted ........... .. 23.00 pe Ro # 10 choice ............, 31.00@2475| TE RE and good .i........0. 18. a1, \ : Wh Sneha ash . 13.00@1650| tt i 'e > : : Ewes (Shorn) ’ hin : do iy yun ow OR 8.00 flim Oct Ad Common statues 1.0 rts . Aearin + 2

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SWEET AND COOL AS PALE: HONEY

Choose "the" hat that will go with all your summer costumes— and we'll bet it will be

one of these smart little

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And what terrific values

at this price!

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