Indianapolis Times, Indianapolis, Marion County, 19 May 1947 — Page 8

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Charges Fy

In B. & 0. Dispute

Jones Accuses Young .Of ‘False Statements’

WASHINGTON, May 19 (U. P.).— Baltimore

‘|The controversy over the

& Ohio railroad's financial past raged on today with a long distance

‘lexchange between Jesse H. Jones

and Financier Robert R. Young. Mr. Jones, wealthy Texas publisher and former head of the Reconstruction Finance Corp. actused Mr. Young of making “false statements” to the senate banking committee on the disputed 1945 B. & O. reorganization in the hope of adding the line to his railroad empire. Mr. Young is board chairman of the Chesapeake & Ohio railroad. Mr. Jones’ statement, issued through his Washington office, marked his first comment on the senate inquiry into why the RFC

extended ‘an $80 million loan to the

B. & O. until 1965. He said “many untruths ‘have been purposely publicized” about ' the transaction

4and~ denied ' there was anything |Ployees at the airport and between ‘ |50 and 70 temporary workers. Space

“irregular” about it. Replies to Statement = | Mr. Young, who told: the senate! committee on May 5 that the deal

petent,” replied to Mr. Jones in a statement issued in New York. + “All of Mr, Jones’ generalizations cannot t¢hange the fact that the

- {RFC forced the B. & O. into bank-

ruptcy when it was well able to meet

*1its debts, nor the fact that his lieu-

tenants thereby perpetuated them-

il selves in B. & O. jobs,” Mr. Young

said. Mr. Young referred to charges before the committee that Mr. Jones, as a condition to the loan, was enabled to place former RFC officials in key posts in the B. & O.

.|so that his “group” could control.

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The daily ration there of 1550 calor- high school band will be fea {at 8 p. m. Thursday. The Germans have plowed up and! -A pie baking championship will

in the world.

made gardens on every area as big as your hat. That was made possible by the 28,000 tons of seed this country shipped. But ‘it still isnt enough.

Splitting Germany into four g ministrative districts under four

barrels from the Russian zone. ;, How will U. 8. consumers fare with the world pressing us to share] our food? _ The 1847 outlook is for plenty in this country. Exports are under ~ tight government control. If they weren't other countries would be here raiding .our food supply and | paying a good deal more for 1t than current prices. . teeth fro minfections and gum dis-

the system. 3 Mr. Jones said the”’RFC made “a

: great many conditional loans” to

railroads and others under which the borrower was required to re-

that the B. & O. was one of these.

Lions' Free Fair

big wind tunnel at the CAA: experimental station, Weir Cook municipal airport, blasts air over burning engines so that engineers can develop means of protecting aircraft against fires in flight. . ® = = : . nu = » : » Skilled Engineers Develop ee =» °o Civil Aviation Aids Here

CAA Center at Weir Cook Municipal

Airport Expanding,

aviation will be supplied by a group of skilled engineers and technicians. Center Expanding | The technical development center,

By JACK -THOMPSON : Indianapolis is the center of development of flying aids for use in civil aviation throughout the United States. From the technical develgpment service of the civil aeronautics administration at Weir Cook municipal airport have come many of the aviation devices now in use on American airways and by U. 8. airlines. " Prom the same source many future needs in the entire field of

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Offer Passengers (Hotel Aid

[Eccles Sees =f Readjustment, ; No Depression

Confident U. S.' Can

Control Inflation By GEORGE THIEM

“readjustment” but ro depression,

of agricultural editors who met with Marriner Eccles, chairman, and R. IM, Evans, member and top economist, of the federal-reserve board here. . Some prices already have fallen. Others are on the way. The change was described as “necessary, healthy

New Buildings Planned | Railrobd to Help Find - Accommodations

The Chesapeake & Ohio railroad announced today that it would help to arrange hatel accommodations for its customers. " + Experienced and travelswise C. & O. personnel will make every effort to secure reservations for passengers at major cities served by the line.

charge, is the top CAA official at the centqr. There are three divisions to. carry oyt the development

CLEVELAND, May 19 (U. P.).— this way:

is a beehive of activity located on Program. A. L. Morse heads the the north side of the airport. It Mreraft section. H. J. C. Pearson

These include Washington, Cincinnati, Columbus, and Toledo, O.;

was either “dishonest or incom- together.

is growing larger every day. | Started on a shoestring by CAA! back*in 1939, the local experimental station now covers 300 acres. Additional space is being provided in the form of a new building. Construction of another building in which fire protection measures for jet engines will be developed is under way. This is expected to be finished early next year. CAA has 100 permanent em-

is insufficient, filing cabinets are jammed into every available corner and the laboratories are squeezed

Make Findings Usable The aim of the technical development center is to ‘apply and develop “the results ‘of ~Tesefeh wo the point where they are ready. for actual] use. It is sometimes necessary for the engineers to do a little inventing on their own.

J. C. Hromada, engineer in

is acting chief of the airport sec-| Charleston and Huntington, W. Va.; tion. W. E. Jackson is in charge of Richmond, Va., and Ashland and the radio section. ’ Mr. -Hromada said CAA officials are studying possibilities of moving|to persons traveling op through cars

a fourth division here—the aero- (at New York, Cleveland, Philadel-

nautical charts and devices section, phia, St, Louis and Chicago.

which is now in Washington. | - All” the passenger has to do is Work on 4 Projects {telephone his request to his local Four active projects are under passenger agent, “tell him the kind way now in the aircraft division. of accommodations he wants, rates

These are the development of air- he wants to pay, when he wants craft elds to resist impact|the room and for how long. with birds in flight, development of | —————————————————— crash resistant fuel tanks, a study. of fire protection for aircraft and New Facto a study of aircraft sound levels. The radio division is working on sa as air navigation aids, instrument landing systems and air traffic con- Building P lanned | trol. Radar is receiving special at- . tention in an effort to make it! The Nivioc Manufacturing Co. to-| suitable for civil use. 3 i

and inevitable.” Reserve board officials look at it)

There are distortions in the eco- |

nomic system. These have to be| ironed out. They come from the # fact that part of the economy Is § el

rigid part }s free.

Some 14,000,000 organized workers :

gét benefits through forcing higher B

Indiana Stocks and Bonds

anapolis securities dealers: ole STOCKS

Bobba Morrill By io te

“obbs-Merrill com ...

| Comwith Loan 4% Cont Car-Na-Var Gonsalidated 9! Cons Fin Corp pfd Delta E) Electronic Lab com co AN PM. Wayne & Jackson RR pid 88 Herft-Jones cl A pid .. ...

8 Writer I WASHINGTON, May 19.—A price !

Is P & This forecast was made to a group |v

Indpls Indpls. Rillways com .

PR en ‘Pub Serv of Ind com

wage levels, Twice as many unor-

ganized woskers ‘have not shared fully, if at all, in wage and salary increases. | Expect Stabilization

Louisville, . the C. & O. said. | Some industries have control over | The a will be available |Prices and have pushed them up to

the limit. Others, such as utility service and rents, have been held down by government control. Farm and food product prices soared partly because there was] little else consumers could buy. Now they : are in _ competition for the housewife's” dollars with such things as radios, refrigerators, washing machines, better clothing, automobiles and the travel®budget. Farm prices are expected to stabilize at about 25 per cent under the 1946 peaks. Many have made all or part of the adjustment this year.’ Reserve board spokesmen feel confident they can hold down any further inflation regardless of. what.

|day announced plans for a new happens abroad given the necessary

Chief concerns of the airport di- factory building to be located on E./help from congress.

vision at present are stabilization 56th st. at the Nickel Plate railroad. of soil in airports by “use oftchemi- | L. L. Castetter, manager of the!

cals, airport drainage and airport firm said the new building would 40Wn, a cut in government spendcontain 5000 square feet of, floor | Ing, tighter-seonsumer credit con-

lighting.

By WASHINGTON, May 19. unions will not be terminated house "or seffate labor bills.

arrange his financial affairs and‘ ment, whichever ends sooner. The’

Closed Shop Doesn't End With Labor Law Passage

y Seripps-Howard Newspapers —Closed

Both bills outlaw the closed shop, while pérmifting the union shop. The senate bill provides that closed-shop agreements now in force gor the building, Mr. Castetter said, shall be good for the term of the contract, or for one year after enact- and construction will be of concrete! To

— |space, enough for storage and for processing equipment to produce a carload or more of the company's product a day. NivLoc manulactures bonding

veloped it. H. A. Bogard is local architect

trols and continued high taxes on medium to high incomes. The country is on a higher income and price level. It must have an

annual income of around $150 bil-| cement for repairing and water- lions not $80 billions as before the

-shop contracts now in effect with pecan ; the product in January, The board intends to keep down

immediately by enactment of either the 1946 from Lewis H. Colvin who de-

{interest rates, to prevent a fall in the price of government bonds to-80 or 90 cents on the dollar as after {world war I.

the country’s eco-

house version specifies, end of the “Membership maintenance” plans contract period — or end of six covered 3,685,000. months—whichever comes first. | These were among the approxiThis is one of the minor differ. mately 14.800000 workers employed

| ences which were, to be adjusted in, under written collective-vargaining > Increase of

houge-senate - conferences on the 8greements in 1946, an

Opens Tomorrow A free fair, sponsored by the

two bills. {one million from 1945. | The labor department gives the

or “ 'plock, He said arrangements had nomic health, the experts would

been made with Simmons Industries have & higher rate of .production, ‘at 229 Shelby st. for close-in ware- some price cuts, wage increases only house service to insure quick han-|t0 workers who haven't shared in the dling of small orders and fast delivery rise, less feather-bedding and tight for contractors. ‘control over speculation.

'Deal “Gives Paramount U. S. Statement

m y American States. ol A .. neh ne com . “| United Tel Co §% 8. Aytes O04” pa : Jutta Ta on

M Mast Natl Homes com N Ind Pub Serv 5% .... N Ind Pub Serv eom.... Progress Laundry com

Nominal quotations furnished by Indi *

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5 sn Yada tiene . CAAAMREE 4 Y vishire Col Com \ ates 08 It R Stk com \

co v dustries com

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N Ind Pub Sery ite by Jub Qatv Mf Ing! . Pub Tel 41as 56 .

Trac Term Oorp Bes... *Ex-Dividend.

FLORIDA CANDIDATE HURT DAYTONA BEACH, Fla. May 19 '| (U, P)~—Fuller Warren, Jatkson-. af ville attorney and candidate for 13 |governor was in a critical condition today after a®head-on crash last night with an automobile driven.

Arm

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ATE | RENTRNERED Service

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to fit your purse. .

PLUS... "Shirley Service"

Style Plus Quality on FINE GLASSES

If your vision is faulty, see Dr. Farris and let him fit you with scientifically accurate lenses in smart, attractive frames. To see better—better see

'8 p. m. tomorrow and a concert by .[the Girls Glee Club of “Lawrence

,| —Doubt that a human being could Car Which John Cobb drove to the

Lions club of Lawrence, will be vis department Sgwe: tomorrow through Sunday at y Slaced Sou y i closed - shop agreements or the| Square dancing is scheguled preferential hiring” numbered 4,-| 854,000. The number "inder unionhigh school is slated the following SNOP _arrapgements. was 2,507,000. night at 8 p. m. A special concert by members of the Lawrence Central

{ +

Engineers to Hear | Speed Expert

be decided at 8 p. m. Priday with Reid A. Raifton, designer of speed 'a community auction, pet show and record breaking automobiles and

stage show scheduled for Saturday. D0ats, Will speak at the annual 500- { y Mile Race meeting of the Indiana

| British Fear Supersonic section, Society of Automotive En-

Speed Would Kill Pilot Antiens. > "ent at Hote

Antlers. PASADENA, Cal, May 19 (U. P.).| The English engineer designed the

live in an airplane traveling 650 to|Present world’s land speed record

at closely related “union shop with

following definitions: “Closed Shop—All employees must 5 | OLLYWOOD, May 19 (U. P.).— be members of the union at. the President Barney ‘Balaban of Para-

e of g and must remain in! oe pictures, Inc, today dis- | RXDenses closed completion of a stock deal Surplus

i cit for Paramount to acquire Liberty Cash bal Pubifc debt Gold reserve

good standing during their period of employment. Hiring through the union, unless it is unable to supply the required number of workers, is required under most closed-shop agreements, and those who are; | hired through other procedures directors, Frank Capra, William’

must join the union before they | Wyler and George Stevens, an imstart to work. portant executive, Sam Briskin, and

“Union Shop—Workers need not Other assets, Balaban said. be ‘union members when hired, but L l P od must join the union within a spe- OCAl Froauce cified time, usually 30 to 60 days, = __ —_ _ FP ihompmmn: | and remain members during the pe-| Tech Springers, 3 ibs. and over, 33 riod of employment.” | Leghorn springers, ; cocks and stags. | Under both the house and senate! Ji; eng Leghorns: 306 sol) meted chick. bills, before & union shop is in- ens, 6c; No. 2 poultry, 4c less than No.

The deal brings to Paramount,

il . * 4 Li ) Film Rights } re AEE ex and gg current fiscal year through May 15, | pared with a year ago:

three outstanding producer- | Clearings Si LR a a .

WASHINGTON, May 19 (U. P.).—-Cov-

penses ts for tae : com=

Year

ar Last $35,060,655,540 $56,302,535,967 36,360,288.987 37,008,957,158 1,209,633 464

257.648.534.627 272 969.920, } 20,878,825 431 20,245.298.868 Fi

INDIANAPOLIS CLEARING HOUSE $ 7,588;

900 miles an hour has prompted: Great Britain to concentrate its trans-sonic flight research on small models, a British aviation expert! said today.

group of British experts studying American aircraft and guided missile experimentation, said Miles Aircraft Co. of England abandoned work on a supersonic plane because doubt that-its-test pilot would

Copy ht, 1 " TIMES g a he ar Daily News, Inc. . '@LVe.

LOOKING for

SOMETHING?

Institute of Technology with al

horns, 20¢; soff meated chickstituted, a majority of .employees must vote for it, and the employer must agree.

of 369 miles-per-hour. He also degigned 'the Blue Bird car with which Sir Malcolm Campbell set several world records in the early '30s. : As consulting engineer to Sir Mal-

Dr. W. Cawood, visiting California | c0lm Campbell he helped design the

|boat which today holds the world { water speed record of 142-miles-per-hour,

Western Electric Makes

Butterfat: No. 1, 50c; No, 2, S6¢c. i | Eggs: Current receipts, 54 lbs. to case, ! 3c; grade A large, 42c; medium, 38¢c; no grade, 33c.

‘Another Wage Offer WASHINGTON, May 19 (U. P.). | —Western _ Electric Co. made a compromise wage offer to its re- | maining 20,000 striking workers | early today in an effort to end the last major dispute in the six-week old telephone strike. The ‘company made the offer to the Association of Communications Equipmentt Workers early today after almost 18 hours of continuous negotiations. The union promised serious consideration and was to give its answer at a conference this | afternoon.

Ship Arrivals

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It won’t be long now?

The medicine men say June 29th will see an exciting addition to the famous HIAWATHA fleet. The new Coast trains will

NEW YORK, May 19 (U. P.).— Scheduled ship movements in New York harbor today:

18.8]

+ It takes fime to hunt around from store

“10 store for things

you wont. An easier

‘way is fo consult the Yellow Pages...

handiest buying guide.

Arriving—Drottingholm, Gothenburg; Saturnia, Naples; Ft. Am- | herst, Halifax; Marine Tiger, San Juan; Alcoa Cavalier, Caribbean. | Departing: General Taylor, Brem|erhaven; Charles A. Stafford, | Bremerhaven.

FISK FURNITURE

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