Detroit evening times., December 20, 1941, NIGHT EDITION, Page PAGE 14, Image 14

About Detroit evening times. (Detroit, Mich) 1921-1958

Image provided by: Central Michigan University, Clark Historical Library

                
PAGE 14
Forbes
Business Leaders
Charge Henderson
Becoming Dictator
Bx B. t . FORK! >
Bus leaden* are Vomplain*
Jr.p , about the extremely Yhotit
f.-r:.» ht Obr. 0 X fIH
attitude Leon HorrderMxn has
lately adopted towards them
Tin \ ;i•’<* afraid, to enti.sc
him in pui . ' be*..» «*, •*-.-** I.> *p
p«n ntly unlimited power, f it
they have much to sax privately.
When he wants h* ads of cor
porations to come and see him.
I am told that h > summonses
are barren of ordinary p**’ite
nesv ’hat they take t‘-e form
of peremptory commands
Since war was declare i he has
become mote highhanded than
ever according to industrialists
Who haw' apjH'ared hetote nim.
Seme of them confide that they
felt insulted that they wcie
treated more like criminals than
law-abiding American citizens.
Also, that ho exhibits scorn,
ronierr.pi. whenever question i v
raised conc< mmg the effect upon
earnings of any pi ice “ceiling"
c: other restriction ho proposes
to impose, although, more often
than not. *tis averred, the price
c?ar doesn't bast' his decisions
on thorough study of all fierii
rent facts, hut pulls them out
Of titO rtit . OUT Of i-ilx iUIL ..
• • •
‘Profits Are Out'
When r\ ecu fixes try to argue
with h:m about the disastrous
financial consequences of some
course he intimates he is bent
Upon pursuing he thunders, they
declare that he isn't one iota
interested in profits that “pro
fits are out.” _ _
Oftener than once. T under*
*tand. he has been asked such
a pertinent question as this:
“lou don't share, do you,
Secretary Morgenthau's worry
about collecting an adequate
amount of taxes?”
“I’m not Interested in Morgen
thau's problems. My Job Is to
keep down prices.” is the reply
he is reported to make
All agree that Henderson acts
as if he were top-dog at Wash
ington. that his pose is “I am
the administration.”
The worst of it. according to
victims of Henderson s domineer
ing autocracy, is that from all
they can gather, he stands nre
high at the White House, that,
therefore, he is justified in
feeling assured that his position
in the administration is abso
lutely secure regardless of how
much or how often he may rub
responsible citizens the wrong
way.
Lately, becoming Increasingly
bold, he went so far as to alter
completely his attitude towards
regulating farm prices Formerly
he dodged advocating “ceilings”
on agricultural commodities. But
recently he performed a somer
sault by declaring, without any
mincing of xvords. I've changed
mv fxvution. We've got to take
the materials for this war and
the cost of it out of our hides
Romew lie re.”
• » »
How About 'Hides'?
How about the “hides” of in
vestors ?
The extraordinary fact Is that
Investors who supplied the
capital for the establishment of
some of our industrial enter
prises upon which the govern
ment is most heavily relying for
defer.'*- war production find
their shares selling at abnor
mally low quotations, in sonic
cases at the lowest level in years,
notwithstanding enormously ex
panded output for our armed
forces.
For example. Bethlehem Steel
common stock has this year
drof>ped from 89 to. lately, 52;
General Motors from 48 to 29;
U. S. Steel from 70 to 47;
Chrysler from 72 to 43: General
Klee trie from 35 to 25, Westing
house from 105 to 72.
• • •
How About It?
Should not Prudent Roose
velt hung Secretary of the
Troasur>' Morgenthau and prior
czar Henderson together arid
lay down a comrr.on'rn'p, states
manlike poliev?
CopvrlrM Is4l, b\ R C F> the*
Pedestrian's Death
Laid to Woman's Car
BATTLE CREEK Deo. 20—'
Police «aid today that the death
'■ar which struck and killed an
aged i**des«>,an Wednesday night
belonged to Mrs. l\a Baird. 52
West Grand Circle, who has made
a full statement a l * to her part in
th* accident
Mn Baird quoted by police'
a' explaining she did r e know -he
struck Charles Mitchel, 75. hut
on seeing him lying m the -*reM
thi'High her rear view mirror, 'he
stopped and a"i'ted in getting him
to the hr.'p.’al No charge* have
l»ecn placed
Custer Recruit Center
Head to Be Shitted
t'f JRT CUSTER Dec. U r Army
revealed today ’La* ( *i
Hammond B:rk* w*o ha- - \* r
vised the prorc'Sing of approxi
mateh 40 000 M chi ea n -i r d
Illinois men ih the arm> would
be tr 1 referred
Colonel Birk' has Den head of
the recruit reception center here
since it o;»ened almost a year ago
end brought it to its present j*ak
c* efficiency. No anrojnrement
I i- hren made a* to h.s duties at
tor mw pot.
Retail Trade
Holds Steady
In spite of unprecedented psy
chological blows the last\lo days,
a sufficient proportion of the buy
ing public continued normally, to
m.t nt on department store sales at
almt*sf the same lexel as Inst week
and only 4 per cent below the
same week a year ago. says Dun
& Bradstreet. inc. The usual trend
for th« current week is generally
b< txxeen 10 per cent and 15 per
cent upward.
The widespread optimism among
merchandisers two months or more
ago and the rising market resulted
~rrr r.ravy inyrmonrs and made the
j letdown seem more severe at first
glance. This reaction was corrected
when realization deejiened as to
\x hat could have been the cumu
lative effect of actual hostilities,
automotive production restrictions
and defense material diversion.
Accessories and smaller items
made the best showing, but cloth
ing. furniture and appliances range
between 15 per cent and 30 per
cent behind. Food products distrib
utors haxe repeatedly denounced
panic purchases and urged store
managers to restrict abnormal
sized pm cliases of staph ten
hut even 'so there was an increase
in this typo of buying.
Fill-in purchases from wholesale
distributors have declined hut the
'impetus of the first half of Decem
ber is expected to keep the month
a shade better than a year ago in
both sales and collections.
Rules Relaxed
At Fort Custer
Tim** Muff ( orrr*|Mind*nt
FORT CUSTER. Dec. 20. Re
laxation of some of the rules in
force for the past two weeks at
Fort Custer xvas ordered today by
j>ost officers as guard |>osts were
returned to normal.
Also included in the order for
post troops was the permission for
married men, including officers
and enlisted men. to stay at their
homes instead of sleeping at the
pos.L. Une commissioned officer
from each unit must remain at his
post.
When war broke out xvith Japan
all officers and men were ordered
to reside on the post and all
guards were trebled.
Livestock Markets
CHICK.O
CHICAC.O D *c 19 (JNfO HOOP Tf
call '» 20.000 mtfklt, 10r low»f| hold*
1 000 Top. sll J 5: hull,. $lO 7,*> i
ill 10: hf«\lM, slo.7o'«i 10 !».V
I $lO >45 ’ll IV IlKhi*. $lO 7.’, 11 15 liKh!
Until*. $lO ,vt uu: parkin* *<>«*, >9 75 <jf
jlO 40: P’K*. $9 75 -110 75.
I CATTLE Kectlpta. l.kOrt: market ]
steady. Calvea. racelpts ftoO; market . |
ateady. Ilerf ateera. ctvlre, sl2 -11. me ,
dlum $9 50 /12; yearllny* $lO '«/ 14 50 I
B <trher* hetfera, s'♦ <t 14 row* >7 7»'*i».
bulla. $7 75-110 50: .alvea, s7'; 14: feeder*
ssrtl2 25 Stocker*, ateera, $8'912 50. cow*'
and hetfera. $7-ft 11.
PHKEP Receipt* 8 500: market ateady. |
Lamb* sl2 /12 40; common. $l"-f l 2 year
Ur.** s';.’>o ;10 50; feeder*, $lO 75./ 11.75;
j ewe*. $4 ■/ 8 50.
pirrt*m iton J
FITTBBUROH, D«c. It* (INS' — CATTLE
- Rr rii>tn. 50; market a<tl\*
Ch'i f $12b13 1100 11 50.
rominnn $7 501(9 .VI. hflffr*. mKliiim-nnod.
js \< cumin on. $k V'ti7 50; mf-‘
(Hum-good. |6SOf)7.M>; earner* nnd rut ,
Iff* $4 50 *SO hull*. *oo*l-choice. $9.50
110 50 common -medium, S' 50 19
HOOS Receipt* 250 mark*' •l<«w »nd
KV lr>w*r Ido-ISO lb* sll :,0 111 **..
Ifc.i.'jiMi :t.« -l 1 Vi 11 *5, 200-220 lb*
sll ~.1 11 «5 220-250 lb* <ll 2' 11 •’id.
2 1-2'.n t>» , sll hll 21 2903 Vlt -
$1 ■II 100-150 lb*. 11l ■ll V
'r.iugh* <9 2*> ti 9.75.
SHEEP Recclpi* 4**o' murk** *'*«nv
rnoio* iambi, Sl2 7.1 tl 13 25. eicdium «oo«1 j
HPiIJ 5» common limbi. $7.8O 1 * 10.50 •
t\yf S3hs: w*th*r«, $3,500*
CALVES Receipt* 50 rrnrke* »'e*'*v
Good-fhi'u-e, Slsh 1*: medium, sl2 • 13 50
cull* and common, s7'»io.
m FKsm
rssT b t *feslo, n. y., i>*r 19 <ins>.
HCk.B- Rec*ipt*. 1.300. W ei*ht* bel >w
22*i lb* 10 rent* lower, flood »nd chulpe.i
>ll V*■ ;11 75. tru< ked-ln*. $lO *s*j 11 Vi. ,
C a TTI E Recetpo 25<v market, etesdv
Pew *n .r(fed v*arlin**. sll 50. other*, 10 50
ill- beer r v». $4 s*); cutter and mm
rrv n, $* 40 I 7 *5, cann*r, $5 23 u 6 35; *au
mge bull*, $9 V)
CALVES Rerelp**. 150. \>*ler« firm
flood and choice, sls. common and medium,
slo'j 14
SHEEP Rereipt* 700 market firm
'flood to rhob* sl3' 11 2V medium ard
ml»ed, sll 50 y 12.50. fat ewe*. ** 2 • *SO.
FEDERAL RESERVE BANKS
NEW YORK. Dee. 70.—The following Is a statement *»f the
17 f ederal Reserve Hanks as i>f December 17, showing the In
crease or decrease since December 10:
ASSETS
\» the fins* of Business
Iter. 17 lie 10
nn ihii ii (in oofl * •
o«'.d cer* fleate. on hard »-d d.* fr m
fn ted state, (reg.urv S.O 51« m* _
Redemption fund —Federal Reifne m**» -V« _ -i. i
Other ca*h 323 *
T'-ta! re»erve» . W 754 3a* - «3 s**
B.U* d*fc,urted -
Secured b\ t.’nifed *>a*e« gevernmert -a- -n* •_ .
direct and guamrtMd 1 *
O’har bills diseounted * ’ , ' l
Total b ll* d’*co n*ed * f. ' 4 1244
Tc,due‘r:al advance* * 9,11 *l
tried fate* government ae.-urm#*
direct and guarg-teed. 14 52.070 a 45 270
T’, . 777 ?n« ... . .
• .!|J jo 370 2 oofl
Tota’ t'mted ‘'a'** goveerment aacuritie*.
d -»ct and gja-grteed * 2 >4O 4 .
Total bids ard *er iri'le* < $ 2 254 755 ♦ d*
T e frerr fr reign t>ank* S 47 '’'
i • -;era Reserve note* of (.*her l>ar.«* 2* 4 * »
t r.. • »< ted 'em* - 1 449 ** 4 ;
Ph-k
O'htr Lee** » 41 150 -11*13#
T*'TAL ASSETS , $24 570.*03 Vil 171
•xj LIABILITIES
rede-a f**#cve n'’ >n »r',.a r.rculat *n I 1 S 014 1* 929
Member la-n '*,crve a »oi. - t 12 497.2*9 - 722 VI9
ft •*“ S-a-»* treaaure' - genual acc</unt 925 25* 7**ll.
EcfS.in *52 9b*. *2 ;**
Otre- r|* r .(, *•* 7*o - 4*9l*
Total d'pr » . ’N . sl4 905 212 * Ob*
svs • Mli’y , i f ] ]-bi
Othtr j ftr ?i|s# i*)* ia* • g %r rr . f r.dt 4 '44 \
70TAL LIA BILITIU 124.1H.3U 4 300.014
BUSINESS
M. S. Rukevser
l<>onomi<* Morale
Improving in U. S.
WASHINGTON, Dec. 20.—Since the United States became
a formal belligerent, officials of the armed services haxe observed
a step-up in the desire of industry to be co-operative.
When the army or naxy* expresses a need for a particular
item, it is now quickly forthcoming. Before we were in the
war, there xxould sometimes lie an explanation of why it was
not possible to provide the particular product at the tune spe
cified.
Accordingly, m* n in the procurement divisions expressed the
opinion to me that this improved economic morale would be re
flected in better production.
Spokesmen for the services made it clear that the test in
placing orders must he the capacity of business men to create
serviceable products.
• • •
Prime Contractors Could Mother' Small Firms
In the case of smallt r concerns xvithout engineering experts
capable of interpreting government specifications, government
officials advised them to seek to serve as subcontractors through
prime contractors who could “mothei ”■ them.
One well-informed individual expressed the view’ to me that
nil of the hullabaloo about spreading the orders and getting
more subcontractors was needless. His opinion xvas that the in
telligent self-interest of the large prime contractors would lead
them to buy from subcontractors materials which they were un
able to produce without creating new facilities, provided they
could find places on the outside to buy needed parts, accessories
and semi-finished goods ol a satisfactory quality at a fair price.
Am officer in the rontrnrt division of the naxy’ said That in
co-opei at mg with Floyd Odium's efforts to spread the work
among a larger number of business men, the naxy was using
its existing decentralized facilities .
• • •
Specifications for Fighting Planes Changed
In order to obviate the need for a great congestion of busi
ness seekers at Washington, the navy is appointing reserve offi
cers , with industrial experience, to serve as advisers on naval
requirements at each of the 74 offices and sub-offices which the
Ol’M has been opening around the country to aid the small busi
ness man. The thought is that these officers will be in position
to interpret the navy's specifications and needs.
Although industry likes to freeze models and thus achieve
mass production, it would not. he surprising if some change in
sjieeifications were made as a result of the recent experience
in Pearl Harbor, in the Philippines and elsewhere in the Far
Fast. Similarly, specifications tor lighting planes, which before
this war had been based largely on theory, were changed in the
light of practical use of planes in battle in Europe and Alrica.
The final approved design of such a complicated weapon as
a battleship is based on compromise. Where materials, such as
aluminum, are scarce, other materials, which may he less ideally
suited, are used. Likewise, since* the total vx'eight ol a loaded
ship is governed by its displacement, the adding of weight through
extra heaxv guns, for example, must he compensated by taking
away weight in other places, such as in the structure ot the ship.
High Price Would Discourage Consumption
In ronnrciion with scarce and critical materials, some mili
taix men and advisers think it i v a mistake to fix a maximum
price. They argue that, if the price were permitted to rise, it
would accomplish two beneficial results. In the tu>t place, the
higher price would encourage marginal and submarginal produce! s
lo add to the supply and would stimulate a world-wide search
for new sources ot ‘materials. Secondly, the high price would
discourage consumption and would lead all those who would find
cheaper substitutes lo do so.
1 have beard the view expressed that the widespread popular
supj)ort of the war effort gives the army and navy munitions
board and the procurement divisions of the services a better oj>-
portunity to carry the ball without too much interference from
civilian advisory’ divisions. Before xve were in the war, some felt
that the civilian agencies, such as OJPM. played a useful psy
chological iole in keeping symbols of militarization in the back
ground.
J. & L. Holders
Suit Dismissed
PITTSBURGH. Doc. 20 (INS).
Federal Judge F. P. Schoon
maker has dismisstxl the in.june
tion s uit brought hy a small group
of preferred stockholders against
.lories Laughlin Steel Uorpora
t ion's S 120.000.000 inergei and re
capitalization plan.
The court, in a four-page opin
ion. dismissed the original com
plaint filed hy Bertha H. Hubbard
and Norman Johnson, both of
New York City, and approved the
legality of the reorganization
which involved the Vesta Coal
Company and the Shannopin Coal
Company, wholly owned .subsidi
aries of J. & L.
Detroit Poultry
M,rk*t ntfndy. No quo’atior* available
Ba* urdav.
j.-, ,js MKrkef v»r*kr current rctclpt*
[3b*,c, uruirrK»d*. 25 i 25 <.
Di,ii; U 1 i L x I.\ 11 11. il. S (/ it xz.x t. 4 1 LtiHi i bc")U)
DETROIT W/TIMtS
To Work
i M Tft •
i ||| o l^
™ 111 191111(13
NEW YORK. Dec. 20 Bethle
hem Steel Cor{K)iation will work
its major steel production plants
on Christmas Day, All the priri
cijml units will he in operation,
including coke ovens, blast furn
aces and ojich-hcarth furnaces,
together with such rolling null' as,
are necessary to take care of Ihe
ingots being produced. The com
pany will also operate uninter
ruptedly such other vital units ns
arc wholly active on war materials.
CLEVELAND. Dec. 20 Steel
companies with headquarters here
plan to operate blast furnaces ami
oj>en hearths on Christmas. Finish
ing departnietVts will oj* rate on a
curtailed basis or not at all.
American Steel and Wire Com
pany. Oils Siecl Company, and
Republic Steel Corporation are
located here. Steel men say that
the bottleneck is not in finishing
ofierntions, hut in steel making
facilities.
A survey of other firms here
engaged on war work indicates
they do not plan to ofteraie over
('hrMma' Companies making air
plane part' report they are able
to moie than meet requirements
of engine makers without working
Christmas. Leading machine tool
firms here al'o plan to close
[Christmas.
CHICAGO. I )er 20 All the
units of the Camegie-Illinois Steel
[Corporation will operate on Christ
man 'Hie National Tuhc.Company
will follow the patterq of the Car
negie ojierations. The Tennessee
Coal. Iron and Railroad Company
in the South will he down for the
holiday.
YOUNGSTOWN. Dee 20.—For
the first time in many, many
years. jKi'Sihly in history, some
Youngstown steel plants are going
to make steel on Chruimas, the
traditional steel holiday.
However, most plants will mis.
I>end for the holiday, reducing
output for this district to almUt Wt
P<»r cent. 12 itoml' down from the
prevailing rate.
PITTSBURGH. IVC. 20. Owing
to the war emergency, the Jones
A- Laughlm Steel Coiqioration vs ill
operate coke oven', blast furnaces
certain oj»en hearths and primary
mill' together with the
:auxiliary services on Christmas
Day.
Stock Market
Continues firm
NEW YORK, Dec. 20- The
styek market continued thru At
the opening todey. Gains ran to
h )H/int, although several issues
continued backward.
Trading was at an active pace,
with a few sizable blocks apjiear
mg on the ta|H\ Bethlehem Steel’
picked up *h on 1,000 shares and
International Nickel rose a hall
point on 2.5(H) shares.
In the motors, Packard edged
higher on 1.000 shares at 2. while’
GM lost a on a like turnover.
Uhrysler was unchanged.
t nit« it Statis Steel, Atchison
ini Pont and Soeonv were others
with minor plus signs. Westing
house xvas up 1 on its initial sale, j
Allied Chemical and Kresge'
tended lower. Elsewhere the torn 1
was irregular.
Bailie Creek Asked
To Speed Up Defense
r.ATTLL* CREEK. Dec. 20. t-
Regist rations for the Civilian De
fense progi stood at slightly
more than ~><X) today a result of
four days registration far short
ol the number needed, home do
fense officials said.
Meanwhile. Fort Custer officers
and state officials have asked local
officials to sliced up its defense
plans so that the city would not he
without a defence program, point
ing out that other plans in this
area xxould he useless xvithout the
ro-operaiion of Battle Creek.
Parenfs Must Pay
Pupils' Transportation
BATTLE CREEK. Dec. 20. -
Parents must bear the cost of
transporting children of the Ur
handale School to other Battle
Creek buildings during the fieriod
required to build an $198,000 addi
tion to the present facilities, school
officials- said today.
\|>pp'»ximate|y 2SO children aae
effect,'d. The plan for disf.rjbutjng
i» n to other hii was
worked out by the Parent-Teachers
As>oc it ion in an effort to gt\/‘ ,0)
children a full day s schooling dur
ing the next feu months.
Detroit Produce
All’!.is Mich >-an bu-tu f p,
8 ) 1. 2 in h 1f,:.. tin;. ** <.thrrw|*«
'lap - M, it,* <«t >1 „n i 7;, OH;, !
'! .’.(> - 1 -,, \<>ith» rn sc\* *• ] »t, |
tonattiMh*. >1 ;-.<• /I 75 Rhivtr I*i/,u-i
< l/fiuu/’K- $1 -1 j/., Kins- $1 -1 l o Ba --I
"b* *1 I” W«ti : c;», SI 1- U.,«t K »„-
f ’ -sc* I•' - - *•'•'(» lancv as • I r_ _
" - -Vi. 4s. *,4„. $: ■», K. I t»*i *
far.cv As* 1. J.’ .V, i'J su. hb *••*, $2 An
(Him D. .d j* B**l2'* #2 21" Ji-.n.c
Beaut>* extra fancy 72« *»s*. 52 ku j
BKANS H-irlda, bunhel hamper* B,un-I
tlfula, $i 7,‘>. B ick V’alentlnea. 52 25: Wax. i
Hat lyp* $2 2-, 2 se. ordinary 51 ; I f.u
BROCCOLI California, pon. crates 28- !
30 bunch**. >3.25; .1
CAt;i:oT.4 ! - At e« « ,\ /,■
but - -■ e„::l >r, i $i ; l 7.,.
b'KLKRY Michigan bun ;e* 1 dAr
*ta k« Mammoth, 50 / >. >. 2 c/ati *
rou»:h, v 2 i .*•<•: e, iforrlla ]’•- e / it,
crate* 51 in 1 apcci.nl era*-- dozen
$2 75: <lo I den 11rt: IH-In. i-ra'ca 3'i-j
5 d ’Zen. 52 75 2o inch i>, * i dozen, j
$3 5o wlrt l - icd crat'« .’.a-9s s’. 10.
CAI’LIFLOW'KR C/i'lfornla i -> cra(e«
12* an- 1 la/'n / sl. 7.’> 2. j
f'AHHAOK Alz-ina Lea Ance>« rricer
round l>;» new alm-k. t:, JO / 3 50. t ld.
r’uci, I'».,i «h Mlchlfcan b luiskeia, 51,
N>- ' Y« rI- .*,•• lb *a- ..« 5110
<’l:a i. i-■■’ißlKs Mu * • ! -ft* , hi r
!rei box. 1! $3 ’.<>'•/:: 7.5
<’l iTMllfliS k ;.r :* b I .
faru v waved, lair l- *;• > •;! v: " 425
rhi/H-c -- : :n.( r> e> !;.,r. >2 7 ■ laijt
Size *l|f,-•/</. >2 5"
ORA l>i <’allf; rn a di.*i l*y l.ij- Km.j
per- r* *1 7 - - 2 be*' 52 2’c r.rdmarv.
511 ;1 ho A llueria*. 52 2’, •; 2 50,
LKTTI CK ice - cr* tvj,e I • t ,'e*
X; l , I'h’tenlx JbatrKt. ' iur 5 2'
5 .HI fair. 5 ; 4 -1e; , $5 tn< r , 41 ,5o !
Yuma f i ’"it, ft-o/t/ >’• •< .5 2.*». 4 d z :
51 7 ‘
U.AK I.KTTtVK Ohio hoUvm**, I■■ Th
ba.-nt-i- <1 20 ■< 1 >’>.
ONIONS It' rack*. Sweet Spam-h,
t'. S Nil. i 3 ' «n-1 J»rK*r. I'tah and
Colorad -'1 .i M«» ft *. : Idaho 2-3
inch >»• >; '*iil ho, Colorado '.’-.I Inch
■<in' 1 '1 4': V' 'h I'. S N 1 Yellow*.
7'*.so j • m :
l’. .S N" 1 Whitt ■ "ft' 3” or>d turprr.
$1 O', i 1 7 town L’, S. No, 1 Yfllnw
rrn di it> ' * *'<
I*« »T *.T• •: s 100-It* rack* Idaho P..i- • ’
Burbank l S N" 1 fj So i
29* M-ih ..-«•>*, 30 few hirher. I». 8
<’ mrr.« , I" o .«•< V- vj 3S, I’. .- No. 2
wa*h</l 12 2.Y Maine lou-lh .‘•irk*, f. S
No 1 <’ :;;-»w:t*‘A haithdit- *2 '•» 2 to.
r>« I- ’ ft. (Ml >»• k«. >5 o', l.Vlh pape
*H< k> .>( Mil'll, |On |h •|I K'. f 1 F
No 1 P. 1-Rural* fl NO ii 1 AN; moctlv
SI.Ah; ;.pcwn*. $| *1 '. i 1 H . NO-lh. paper
•«(k I<■ fy Oht 'v jl t'pprr T‘enin*ula
1' 8. No 1 <.r.-en M‘Oini.alr- lort-th
rackr few .-xic* J 1 7.7■ I* Ih. paper ea'k*.
27 •/ 27 .' Nebraska ,/O-lh • niton rarke
11. S N< I w‘i*hei| Tr umil $1 7N
RADISH' Tcxa* p r. v rnlo, AO-90
bur.cht-a > 1 Ntt 1 » •
nn Ml* - i Vi-lb. ,«ai k>
w.irH i.
SHALL I »T> I . i.»:ar * barrel* 2<'-dn/
0 11 ti M«-• ' ■ »'i > i'c , .i 'lni fa r
>1 V' S-d ■ '2 <1 IJ 7
SPIN At II Texas ho. ha *••’*, Save,
type fi
SWK! 7 roTATO!" T.ono Pn-tn
Rp-nn Yii-i.. raj . rite* k n di * I v. i
1 »’..*> Ok ia 1 1 1 If? ha*he!x, Jer.’’i |\|i*
A 2 '22 T> mi hami-e: generally
k "'d loalitv I* iir H:. an Yarn*. ft 25,'
I N •.' • Hal .11 2* ■ 1 V
Tom NT* )■•>' M-lb cartnii- repack*
f o ■' lotho'iee f*• it.. tia*krt* mtoiun
II >') '1 l fiO
Foreign Exchange
N * N ' *KK I ie< 20 Pro rs m rente
• I I KOl'f
t'.i'H’ Britan r'erlttk: 40:17*,
Swedet.. kr< tie 20 k',
Hernia \ r*a hem/trk 4005
| Italy. Itrft *, 2*
K • tad rr.atk V 10
Hurty a m ’n k Uto
(»!••< e. drai t'ma aa
}’••: 1. • idn 1 o|
1 Henmark kmnt Itt 31
fS\ A n 4
t’ar.ada. <; ir fck 7N
•*OI Til AMtHK t
Aiiier’ • r‘‘ t'tfk nli 20 7*
Mexico |<»r> 20 70
I'niKnay. pe*n A] 7N
Hrar.i, more.* •> 1N
Chile. pe« i * » 00
Pern. e«'l o IN "N
I \ K I %*»1
'Japkn veil 23 k.*,
Sha: *.l’lli 1 dollar ./ AAH
Monnkon*. feliar /• 2 i 30
India, rupee ,30 37
Metal Markets
NKW YORH I'et 20./—n-meetlc tapper
price he d lirtu •• the r tx ntuni level of
t',’ * ee• l • p I |e vered C-'rineCttcuf
Va ev t..!>•*• t\t• r* ii.pp’r v i oiiirl and
Urn ham el at II i tent* a p nind f a. *
New A •r k
fierti I' * •a i t ntiroif . ia <e' than
at a lain*- •; K it UN cent* i pnond
> ej A rV xid •7" cent*
S • T / - J
. 1 I
[ ■ v • • • f 9 phe*
■ a7\ irn t* % tM. inf! ?• t>-iit*
MARKETS
Lewis Haney
Charges Higher-Ups
Evade Army Shakeup
\ Well, w o have had a shake-up in the leadership of our armed
forctf.v The old Hawaiian generals are out, and new ones re
place them. How just the summary action may he, I don't pre
tend to know. (It may be designed as an alibi to cover up
failings higher up. > But it does suggest a question about our
stafT of experts in the industrial field.
Why has there been no shake-up at Washington? Why
do wo retain the same staff of advisers that we had when we
were shipping our precious steel scrap to Japan as fast as we
could? Who was not on the alert when we poured steel scrap,
copper, and gasoline, into the hands of our enemies?
Similar questions might be asked with respect to our pro
duction and our capacity to produce a good many things needed
lor war. And what about the strikes which have so seriously
slowed up our initial war efforts?
But what seems to me most ominous is the evidence that
not only is there being no shake-up in the old crowd of half
baked radicals, so many of whom arc found in "the government.”
but there is even a renewed rush of them to Washington.
0 0 0
'Birds of a Feather' Flocking in Washington
Such things don't just happen. "Birds of a feather flock
together.”
We need to he on the alert—we Americans who have made
America what she is to see to it that the democracy we fight
for in the Orient is still there in Washington*
0 0 0
Questions Selections for Economic Staff
Frankly, I douht the wisdom of some of the selection* for
the economic >ialT for the war effort. Price-fixing oi some sort
i' now necessary and desirable. But it should be done in a way
consistent with the spirit of the American form of "democracy.”
1 doubt that Mr. Henderson is the man to meet this require
ment.
Heavy taxes we must have. Taxes should he heavier for
everybody. But the purpose of such heavier taxes should be to
raise funds needed to wage war. It should not be to "control
production" or cany on experiments in social reform. If taxes
are laid on that they are not accepted as fair they may be
come an important harrier to that unity among, us which is
| now so vitally important.
This m why I doubt the wisdom of now scloeting R. E. Paul
1o be "lux adviser" to the treasury department at Washington.
He rejects the tried principle of "taxation for revenue” and wants
to use taxes as devices for regulating "the economy." Is that
what Morgenthau want>? Do we want it?
! * * *
Foreign Economist Gets Big Reception
The other day in an economic journal I noted that a certain
economist who not long ago came to this country now gives a
Washington address. He is known formerly to have had Marxian
Socialist connections. That is the way things are going.
Is our government on the alert?
It it is not. wo may yet become hogged down in class con-'
flirt, communistic exjieriments, and bureaucratic centralization.
They talk about different nationalities working together to
save "the world.” This can never be done by unassimilated
foreign element* boring from within.
Opening
Stocks
NEW. YORK Dec 20 Prices of
the following stocks on the New
York Stock Exchange at the open
ing today were:
Open- Prev.
mg Close
Allied Chemical 1394 1394
Amcm m Can 64 4 64 4
Ana r Tel & Tel 125 125
Anaconda 264 26%
Atchison 25% 25%
Beth Sti el 59% 59%
Chrysler 42% 42%
Du Pont 1390 139%
General Motors 29% 294
Inti 24
Int Tel Ar Tel 1% 1%
Kresge S S 224 22%
Nash-Kelv 34 34
N Y Central 7% 7 4
Packard 2 14
Penns\lvania R R lk » lk 4
Radio 2 4 2 4
Sear*-Roebuck 31 , 51"*
Standard Oil N J 12 4 42 4
l’ vS Rubber 17 17 4
t’ S Steel 51 % 514
Westinghouse Elec 76 4 754
Kronoiny Cirorery Stnrra rorjHt
i rat ion (iorlarod a rojjuJar quarterly
fiividrnd <»f 25 cpnts. payablo Dp
rpmbrr 29, to stock oi record De
ep mtier 22.
Detroit Stock Exchange
1941 Kuhkp Net
Hlkli I .in* Dlv. Shlps llicb I,ow lft:4t(hj[e
9'» ♦> .70a Burroughs 100 ti 1 * 6>a
.25 .10 McClanahan Oil 200 .19 .19 .19 1 .01
.45 .03 .... Detroit Paper 200 .09 .09 .09
a-l’Kid nr payable In lflll-1042. b-Partly extra. r-Pitra In eloek. dOptional
-«t«rk nr ra*h. eOn accnunl nf accumillatlnna. efWld lot* only.
iy&4Dtc ,9U ■
\llS*Tu« ir now 0«« M» ■
l\ OUR HEW * Ho^^ cMto DOWNTOWH FOR ? *NO AUTO ff
■A CONNER lEN1 l Lt APPLIANCES’ I
■ SPO« I,NG GO ° DS ;oURS 9>o T ° 6 TmN WASATCH BLMO.
■ '- V
_ _ _ &
1941 Dyestuffs
Output at Peak
WILMINGTON. Del.. Dec. 20.-
iPrr>duction of domestic dyestuffs
will reach all-time peaks in 1911,
according to year-end estimates
by the Du Pont Company.
Preliminary figures place the
valuation of these dyestuffs at
nearly $110.000,000, or approxi
mately 45 jh.t cent more than the
■ previous record year of 19-10.
More than I.fiOO.OOC worker* are
employed in industries directly or
indirectly dej)cndi nt on dyestuffs,
it was reported. Despite unprece
dented demands from these indus
tries, practically all n*-edk for
dyes have been met and the mator
part of the dye industry i' now
working on a 24-hour-a-da>, 7-day
a-week basis.
Earnings
Amcrlran f alilc Jk ftailln (nrpnrallM
ar*i *uh»i»llkrlc* f>>* nir * ’rr r.tfi* rn'trd
He pi cm her 30, »h< w»rl a riei »r -me of
M2N,«3.'l after rieprtx ittlr-n, an*miatlori
fe’leril Incoma and eacea* preftia tax**
merest nn trcom*. dehenlurea e’ a K » :«f
a rw in< >nn# t>f 1395.3N0 In tha J'Mtt,
i permd.
Rreer* f nrp*»ratl«na lr*e , f«ir nine month*
•nd#d h*p'emt**r 30 ahowad a net profit
jnf |'i7* 110 after 32 J'U O.NO prciviaiona tor
federal ta**a.
Saturday, December 20, 1941
20 Radios, Gifts
For 400 Troops
In Fort's Hospital^
Pontiac Republican Club
to Deliver Presents
to Custer Tuesday
1 lines Staff Correspondent
PONTIAC, Dec. 20. Twenty
radios for the boys in the Fort
Custer Hospital!
This is the Christmas present
bring sent by the Pontiac Young
Republican Club, following a party
held Thursday night to buy gifts
for all 400 merTln the hospital.
The radios will he delivered
Tuesday by a delegation from the
Pontiac club, one for each of the
20 wards in the hospital. Order
for the radios was placed yester
day and quick delivery was as
sured.
Arrangements for the presenta
tion are being made by Lieut.
Theodore Fossieck, public rela
tion* oftieer at Fort Custer, who
attended the party which the Pon
tiac club staged at Eagles Hall.
Along with the new radios, the
Young Republicans will deliver to
the men in Custer Hospital all the
packages left at Eagle* Hall or
given member* of the club before
9 a. m. Tuesday.
Farmers' Market
APP!,F.M Mclrtnih, fancy, |2 bu No.
1. SI 1 75, N<. 2. 75c hu ; Northern
Sp » fanr%, 12 2V) bu No J, 11506.
1 75 i 2 Si 25 Qreenh ».’*. No. 1. IV|
1126 bu J< i a'han. fan I
SI 75 bu . Ni 1 jl 25-/1 50; No 2. |W
Delict-up. fancy »2 bu . No 1. 11 5081.7.1
t» i ; No. 2 7 1# Sn-.»» No 1. SI If 1.50
bu N" 2,75 cbu , Wagner*. No. l,
SI >/1 35 bu
HKKTS Kurn Si bu : d-i**n bunch**,
f , c, N". 1, ,5; c tioirn bunches. 60'.
■6sr bu
! CABBAGE Fancy. *i 25 bu : No 1,
; '*o -Si lo bu.; No 2 63c read No. 1 *5
■ bu No. 2,50 cbu . curly. No. 1
'so i 75c bu
CARROTS— No. 1, VGctjSllo bu ; .No
2 75c bu
| CKI.F.RY Fancy. SfV do*en bunch** .No
1. 4" V No. 2. 2" u 25
CKI.ERY Syt’AREH Fancy, SI 23 No
1. 73 -SI
OKI.FRY CABBAGE Fanrv, SI 23 bu :
No 1 *- -/ SI bu
CKI.ERY FOOT* No i Si t 125 bu
EGOh 1-ara* »!2’il2 su. 30-d--**n ca»*
rr.r ! rr *lO -r 10 50 »mal' S* 75-10.
■ rVNNKT. No. ]. *1 33 31 50 dr*e*
burrhei*
H I’.H RAF'ISH Fancy. S 4 23 bu ; No
1 52 75 - ' 25 hu N< 2 S 2
ONIONS Dry r-r ■*, faorv. 12 o 2 to
N I. 11 MCh; 2 *1
PARSLEY root No. 1, ll’jl 23. No
2. 75- hu
j PARSI KY 1. J‘ i',Oc do* bunrft*r
PARSNIP* No 1.
PoTATOt.II Fancv, *1 10 bu , No 1
ISI No 2 Vk 0
I’OL'I.TRY He.-,* ||\* heavy breed* 1°
I'/21c tr, leeh'-m* 13-*l7r hred'er*
,h#a\ v. 2" »r 22- lb ; broiler* l**horr» I#*j
jl* |b -lucka 17 IW< lb ***** Ift'dlSr
In turkeys. h*n», 20 j 30c lb . torn*, 23u
27c lb
PCMPKINM N-1. 1,407150 c bu.
KAMSHF.H Red. bothou** No. 1. 50'*'
65- d- .ten hun-be*
SyfAKH H iboard No 1. 4/>®6oe
Table yueen, No. 1 13 V 00c; No 3. Sftr., „
Dallcl » No 1 50 >6V bu.
TURN IPH Fancy. f*>c b-j.; No. 1. 4V tJ
30c d ten bun-.be*. *- i Tsc bu N-- 2
50c bu
VS.'IFTARKE C.RFENS Cnllard* No. 1.
63c .St bu *»<arol* N-> 1. 5u 1 75 c liu ,
French endive, fan/ > S 2 ft-lb bn« N
-1 SI 50 No 2. SI kohlrabi, No 1 33
, </50c d< zen bunch** kale. N- 1, 40# 63c
!bu ; -as lettuce b-.t house No ] <t
SI 10-lb basket: leek* No. 1. 40# 60c
id'-i*- t nch*» *;-tnacri No 2. 75c bu
I VEOFTABLE OTSTKRft—No. 1. 60875 c
i dozen bunches.
rwn aoo
CHICAGO n* 1* (iN«> - - BETTER—
R*>*|f 11 70- tut>»' maraet steady b
«* 'ft e*’-H» <*2 -r*. 34 , *tandard*
»-ore -ar* 3.3< eztra first* k! »c. r »
13 .< fl r»t * k* score 31S 832S*.
special <t:t *< •* M\ "i 3.5 ,r
K i'iP H* r * 77* <a»*» market ,c
-- ■ [- • F-X #
W
T* n« 24, . 2 '-c - cat**
l or ■'« acd Icr.chnrn*. 25’ 2.5'. t r.
DJVK POI'DTKY Market steady !*>
1/fti turke.*, 17 V 25c • he*i». 14tflt>Ar
e*ti- -n h*ria W v fl4>yc - «nrtc**r*, 17^
2' , nr *-» JA *(lk‘4r rooa'er* I]%
{f 1 5 ,c : due* lO'-rtSc; *eee* I*Bl6*
LEOAL NOTICE " ' ' '
| federal Work* A lent y. Public Mulldinfi
! Adminiairatt-t. Office of tha lupervlatnf
F.’-r ti*er. Wtahln*ton,’ IN. C.. Dec 13
IW4I S«a!e<l bid*, to triplicate, will be
re'*.\*-i at tin* nffica until 1 H. M. H'and
ard T m* Jan 13. IW2, and than publicly
opened f'-r turn *hln*- th* material* and
pc-' nnnn the work for repair* lo d->o#a
fardwar* pia»i*r. eir , at th* V H. P'WC
Office. Anoaavalt Park Ann** Marametl*
Avenue h*<ween 14'h and IVh Street*
ftetr* t. Mich, in *trict accordance with
the aperlflcation* dated Sf, R. Dec. 2 1941
and draw** of anyi mamloned therein,
and the acnerai cortfltiona dated Apnl 1
19*0 and addendum thereto dated April
14 1941 Hpec. fleat lona and other data
may be had at the office of the cuatodian
of ih* h uidlni or V ihiic Building* Admin
lei ration. Federal Work* Ar*ncy Waahing
ton D C. Neal A. Melick, Hupervtaing
Engineer