Indianapolis Times, Indianapolis, Marion County, 11 February 1949 — Page 14
4 Orders From
4 By TONY SMITH
General Discloses
5 py anc sar wo | § od . Polish 8
ples ob-| 4} details” of
’
NY ys
Transfer
; i i : i int on prog $210 million, 130-mile. two-way Yo rin Tram the. Ohio, Hvar sas ore south. Between the belts is a walk Francisco| from $20 million to $45 million a year.
\ dochicallypowered convayor belt near East Liverpool, fo Lorain, O., on Lake Erie, Coal runs north, iron for maintenance men. Savings in freight are expected to run
Home Casts
+ [rector, sald FHA is ready to let
1all
Financing Agencies | § And Contractors Set - $6000 House as Goal
The Indianapolis building in-
discussed a $6000 house which roo “HE DOURHE TOF KE Tite HY $600 down, or, with Veterans Administration help, with $300 down and $40 a month.
the bars down as far as possible to open up this new field,
into low income hous wg shed 34 of the Indianapolis | the government an e i ness in private hands. To do this dag they are willing to make conces- rows and gilts from 160 to sions to provide better houses|pounds $20 than the government can build at hundredweight. The better terms and of better mate- price was $20.50, paid freely.
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By United Press
Saturday, Feb. 12,
day, Feb, 14.
" - : iSpy Suspect Returned ro DPRAWA-Peb, 11 (UP) Sam examiner. Carr, accused Soviety spy, came
back to-Canadx-
RCMP announced.
The nation’s security and com-/meeting. modity markets will be closed! Lincoln's Buerger, chief
wrence EK. birthday. Since it js a Saturday,|y.iuator of the Veterans Adminthe markets in Canada and thelistration: Clifford Krabbenbort of| |i [Tol BLL to BIS00 with chert i [London stock exchange also will the Marion County Residential! x 4 [be closed, as customary. All mar- Builders. i [kets will be open as usual on Mon-
the sociation.
Sola at $1528 to S20. witlle 380,10 Marshall D. director of | 290- A the Consraiion ie en Airactar of - $19.50 and In Instances $10.75. anapolis was chairman of the Prices for 200 to .340-pounders fn, ranged from $17.25 to $18.50, as Other. speakers were Joseph F. lightweights: from 100 to 160 of the pounds sold at $17 to $18.50.
Sow prices rose slightly, rang-
rials. ¥ ; Weights to 250 Other Speakers
FHA; La
Stags sold at $13 and less.
Harry W. Claffey, president of . Catile Holds Steady the County Plan Commission; Cattle, prices remained steady Noble Hollister, secretary of the/in clean-up trade on all classes. City Plan Commission, and Sam- Odds and ends of medium good uel L. Ruble, FHA construction
conciliatof; ¥, A. ‘Wilson; VA loan Others were Paul Burkholder, guaranty officer; Robert Royer,
for the Federal National Mort
dustey Dugdied yesterday over| | J p— t and financing of an| hd a eh “economy house” for the lowest| This new building to be
forest top} of thy Indians Bel Telighans Go, Jo Xi oe comin Co. It will house some 300 employees,
| og ces ‘ ; p 25-50 Cents/Chitd Worker = R. Earl Peters, local FHA di- In Active Trading Hos Sel. Bonds
figures in active trade in Local builders are trying to get'day’s p Stockyards
to $20.50 per(sold largely at $12 to $14.75. 7,05, 1, Cohen, early
$#16-dred pounds. Lightweight high
' 5 a
ot 1828 N. Meridian St. will house
the revenue and a a niin
To Speak Here Here | Miss Sophie Diamont, a staff 1d at| member of “the Bessie Gotsfeld to $16.50, pit lots of | Children’s Village in Raanana, lightweight medium and good Israel, will address a group of
1aixed yearlings remained unsold, | yo wish women sellers demanding higher prices. . munity leadBulk of beef .cows sold at $15 5 Monday. in $16, as canners and cutters i, jome of Mrs,
remained scarce, with 800d 2394 Ruckle St. heavy sausage bulls quoted at) Miss Diamont $21, medium sausage and good . oo iv’ arrived beefs at $17.50 to $20, and only|; "spe United light beefs above $20. (States for a Vealer-prices--dropped-50- CONS spy SUEY in slow trade. Good and choice| study home ecogrades sold at $29.50 to $31.50; nomics ‘and incommon and mediums at $20 to
stitutional ad- : $29, ng cls HHL, | ministration in Miss Diamont
In sheep trade, fat lamb|{ Preparation Jor continued Gti. ' care wor Hl ' prices rose 25 to 50 cents a hun She will report on the Ia good to choice 98 to 100-pound | developments in Israel and suf fed northwestern lambs sold at|line plans for child-restoration $23.75. Bulk of good and choice 2nd soclal-welfare work in the
natives rose to prices from $22.50 PEW Jewisn | sis. $d o— to $23. Best grades were consid- Munily 0 a na ot ap i worth $23.50. (she comes, has n aside
+ Blaughter ewe prices. remained | {OF native and refuges orphans,
steady at $0.50 and less, as in-| i cic fa today a Royal- VA «chief of ~ Appraisal Section; manager of loans for Railroad: sufielent: quantity dmited price Local. Truck Grain Prices Canadian mounted car to face|Russell Smith of the Indiana men’s Federal Savings and Loan,
charges of conspiring to divulge Lumber and Builders’ Supply As-|land F. E. Wilson, Chicago agent official secrets to Russia,
reports on sales. . Estimated receipts were hogs, | No. 6825; cattle, 225; calves, 225, and | No.
| oats, . sheep, 350, \ New No. 3 yellow soybeans, $1.91.
red wheat, $2.00. $1.04,
9 nent 3 A AN
- 8x TF
Be
LU 1% 1"
16% 03 “
93% to Youngstown and Cleveland. It Ye wi 17 [Will cost $210 million and take Rebentt ni = Hae | 1BFS4 Yeats to bul, Bune MIE i oh Be» 65% Cost Cut Public Debt 383.817.300.008 254 728,587,803 4 Described as the “raflrqad ot| Gold Reserve 24,279,062, 404 034,048,477 a tomorrow" by its president, H. B.| yNDIANAPOLIS CLEARING MOUSE tt .... | Btewart Jr, of Akron. it is ex- Cleatings for the day.......... "10,583,000 $h pected to slash freight charges/Debits fer the @ay ......0... § (65 per cent. This would mean 14 an annual saving of $20 million
we Wa
%= 130-Mile Long Conveyor | Would Aid Steel Industry |
== 48 ore away from the ratiroads- and’ - Asa. 1 | move them on overhead belts,
11.1 The “Jules Verne" belt fonveyor skates to battleships are expected % project is largely a result of sky-
#® (brings an entirely new kind of) ice.
b scsss———— competition, ‘ : temen “10% ..|- The Riverlake Belt Conveyor U. §. Sta nt gr | Lines, Inc, plans con®truction of a
His 3) i
. Lorain, Yerminal of conveyor belt. Ore from sarviers will be stocked at the dock, where a power shovel can load it on the belt
$210 Proje¢t Linking Ohio River With Lake Erie Ports Seen as Cost-Saver By W. L. RUSSELL, United Staff Correspondent
PITTSBURGH, Feb. 11—A brand-new form of cross-country freight transportation is on the horizon. It is the 130-mile overland conveyor-belt system to Be bullt from the Ohio River to Lake Erle. The world's first application of a belt conveyor as a common carrier, it. promises. great. economic. SO I transportation com-
" ? from ] the Joh Seamarn PennsylThe undertaking would take Vania, eastern Ohio and northern millions of tons oy iron| West Virginia fields.
portation costs more than in half, prices. of everything from roller
to be reduced, benefiting conrocketing rail freight rates, and it sumers everywhere,
double-belt route from Bast Liver-|ment pikBgnaes » Pool, 0., to Lorain, O., with apurs| ith Woes ape:
| TEE
to $45 million on {ron-ore coal and limestone shipments. : A bill will be introduced in' the legislature to give the cone yeyor corporation the right of eminent domain in its quest for a right-of-way. This will be the to clear before construction can begin. Ofcials of the firm are confident of suficient private withou
:
gif
benefits and startling. repercus-;
result of cutting trans.)
In 1948, International Harvester had the larg-
est sales and dollar profit in its history. How- - ever, rate of profit per dollar of sales—4.7 cents
~was the lowest of any normal period in many
© years. It was only three-fifths that of 1941
when rate of profit was 8.3 cents.
8.3 CENTS PER DOLLAR OF SALES
4.7 CENTS PER DOLLAR OF SALES
On sales of 945 million dollars, our profits were $44,909,000. The company also had in: come, of $10,770,000 in dividends from subsidiaries and in miscellaneous income, making a total profit after taxes of $55,679,000. Of this, $27,155,090. Slightly more than half«
$28,524,000 was plowed back into the
Dividends Bot operations in Torei srtntrics™ represent a substantial part of the money plowed beck. ; .
“Profits plowed back”. are profits at work
dollars under lock and key in banks. They are not like the money that King Midas used to
admire just for money's sake.
future! They are money in new production lines and new equipment. They are money in parts and inventories of all kinds. a From 1941 through 1948, International bas made plants,
Hobaft Autterson, state labor'gage Association.
plowed back” in the business— from both
+ $118,600,000 toward this.
How have “plowed back” profits benefited
Profits at work for employes
ample opportunities for advancement, at good places to work, to the largest number of men and women who can be productively employed.
““Profits plowed back” have helped in increas-
ing the average number of employes from 57,400 in 1941 to 94,700 in 1948. Average earn-
ings have increased 92.6%; for non-salaried fac-
tory workers; 84,0% for non-managerial sal-
ried employes; 83.0% for managerial salaried
Profits at work for customers TRUCKS
1948—165,600 1947 148,700
TRACTORS
1948 146,777 1947—-110,937
. REFRIGERATION 1948 128,397 1947 — 35,008 — “Profits plowed back” have aided in the development of our extensive manufacturing research facilities and in the creation of new products such gs the little Farmall “Cub” Zractor, the cotton picker, refrigeration, and many other items. They have contributed to our expanded plant capacity which has made it possible to furnish customers with more . goods at the lowest possible prices,
+ Wages and materials are the principal items.
“2 INTERNATIONAL
It is our policy to provide well paid jobs, with |
. i
of cost that govern our prices. You have seen how much wages and salaries have been increased. Government figures show that the prices on materials have increased 81% since 1941.
“Price on metals and metal products is up 78%.
But the price increases on IH products are less than any of these figures. They have been 72.0% on motor trucks; 74.0% on industrial power products; and 60.0% on farm machines.
Profits af work for stockholders
1
reog 4
i=
The 46,000 IH stockholde are a rou stction
of all groups—farmers, housewives, factory
workels, and others. In 1048, dividends paid on common stock represent an increase in
“wages” of stockholders of 63% over 1941:
Profits at workin the future -
Profits at work made it possible for Interna. tional Harvester, in 1948, to serve more people —employes, customers, and stockholders—in greater measure than ever before. By continuing to earn a profit, we hope also to continue to
serve more people in greater measure than ever before.
‘mean progress
for everyone
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“hy - iT 4 4 : 3 : dik; : Ki | ’ y ‘ F] - ; 7 3
been total by 200 total ds. some. previous wee) Cumulative since the low
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