Decatur Daily Democrat, Volume 19, Number 15, Decatur, Adams County, 18 January 1921 — Page 3

Home Saving Banks b We recently received a good supply of ' Home Savings Banks of elegant design, for distribution among our savings de- £ positors. \ If yon have not already started a savings account with us, do’so al once and \ get one of these banks for your home. The Peoples Loan & Trust Co X . 1 “BANK OF SERVICE” ■MBBMW•■■■» 111 ” ■* ■ t ________ . “big type Chester White BROOD SOW SALE Thursday, January 27th BEGINNING AT 12:00 O’CLOCK At the John Parrish Farm, 1 mile west of Willshire, 10 miles southeast of Decatur. 50—HEAD OF PURE BRED SOWS—SO This herd represents some of the best sires of the breed such as Parrish’s O. K., Indiana Chief, Petroleum 8., Big Prince. In this offering we will have one tried sow, 31 fall yearling sows, 17 spring gilts. I good spring boar. These sows are bred to farrow in March and April. ALSO 8 HEAD OF CATTLE—B Spotted, Jersey and Holstein Cows. If you need a good cow here is your chance. Terms of Sale:—Cash or credit of 6 to 12 months will be given with 8\ interest from date, purchaser giving bankable note. JOHN W. PARRISH & SONS Write for catalog. PLEASANT MILLS. IND.

hhmi 1

DEMOCRAT WANT ADS GET RESULTS

® s !fi zfi Time Tried and Claim Tested ffi W I Northern Assurance Company | t DETROIT-:- MICHIGAN | MS HENRY S. HULL, Vice President FRED H. ALDRICH, General Counsel UC IE M. O. ROWLAND. Secretary CLARENCE L. AYRES, President E - H - MARSHALL. Supt. of Agents JJJ GEO. E. LEONARD, Auditor DR ‘ WM ' H ‘ BROWNE ’ Medical Director g FINANCIAL STATEMENT DECEMBER 31, 1920. . g H ■ ASSETS GROWTH OF THE COMPANY * 1 First Mortgage Securities (Alll on improved income bearing real estate). $1,650,912.00 Year Ending ' Income jJ” Assets j Reserve I I S Real Estate (including Home Office 1r P t > ..• ••••• •• • • 252,68847 Dec. 31, 1907 i $ 81,55441 ■ $ 144,097.74 ! $ 17,146.15 I $ 2,111,000.00 ix S Policy Loans on this Company 31,809.12 Dec. 31, 1909 142,852.98 256,481.26 115,236.25 | 3,906,648.00 u; 8 Premium Loans net (fully secured by reserves on policies) 54 701 88 Dec. 31, 1911 216,065.89 420,443.12 271,811.34 j 7,056,630.84 $ £ Cash in Banks (all on interest) 18 545 73 Dec. 31, 1913 311,028.20 676,046.68 531,439.87 | 10,077,462.00 ■g Interest accrued None ’ ’ I) ec . 31, 1915 379,082.24 1,021,784.34 861,144.86 12,185,019.45 g Interest past due ... ;••••,; ‘AL j’* J* chariid in Dec. 30, 1917 502,587.41 1,476,709.80 | 1,476,925.84 15,310,526.69 ffi 8 Net amount of deferred and uncollected piemiums (reserve cnargeu in l)ec . 58U2L99 1J0 0,817.67 I 1,511,766.69 ] 17,615,381.91 liabilities) None’ ’ Dec. 31, 1919 795,412.46 2,022,358.54 1,845,927.55 | 23,907,425.66 2 Agents’ Balances . ••• •• •• • •, 1 None Dec. 31, 1920 1,036,400.16 2,521,388.29 2,302,268.71 30,829,092.85 Jfi | Non-admitted Assets Nl)ne ACHIEVEMENTS DURING 1920 yi Net admitted assets •• • $2,521,388.29 New Assurances Paid-for 1920 - $9,768,425.07 s • (An increase over that of preceding year of 23%) JJj g LIABILITIES tfi £ Reserves, inciuding disability = s 42,351 372.56 . Nd Gain OvCf SaiUO for 1919 - $1,886,529.07 | I &I: r r d d e eShdaS u unp 8 ai n d y i&m. • Paid-for Assurance in Force Dec. 31, 1920 $30,829,092.85 § le Reserve for premiums paid in anvdiivc.. 11 229 27 S ffl Reserve for agents’ledger credit balance » • K Reserve for reinsurance premiums MSl’i Net Gain for the Year - - - $6,921,567.85 w Reserve for taxes g 423 60 (An increase in this item over that of preceding year of 10%) S Reserve for all other items.. • • 121 054 95 s capital and suipius t<. poicj s 2 521388.29 Cash Income lor the Year 1920 - $1,036,400.16 i g • > > • (Gain over preceding year 33%) 32

DECATUR DAILY DEMOCRAT, TUESDAY, JANUARY 18, 1921. -

TREND OF LEGISLATION By Georqe W. Stout, Indiana State Chamber of Commerce.

Indianapolis, Jan. 17—(Special to i Daily Democrat)- Many cities and i towns will watch the course of senate bill No. 21. introduced by Senator Ilatts. This is a .measure understood > to have been brought to the session i by ex-Senator Ezra Mattingly, now : tlty attorney of Washington. Daviess i county, and it is designed primarily i to enable cities and towns owning i public utilities to solve certain large ' problems of financing betterments and enlargements In such utility I plants. Washington's own case is I an example, but it is said by friends I of the proposed law that several other i cities and towns are so situated as to [ feel the need for this enabling legis- : lation. Indianapolis, it may be said. \' is left out orfthe bill. At the same ' time it is apparent that those back 1 of the measure have gone to the : acts passed in recent years on be-; half of the capital city and have 1 drawn therefrom some measure of inspiration and encouragement, as well as legal justification. In 1881 a constitutional amendment fixed a restrictive limit upon the ability of Indiana cities to go into debt. It was provided that the bonded debt of the city must not rise beyond a sum equal 2 per cent of the total of taxables in the community concerned. The eqect of this constitutional provision, whatever its origI inal intent, has been to discourage municipal ownership of public utilities in Indiana. There came a time when cities developed on lines not perhaps contemplated by the prophets and statesmen of 1881. What with modern sanitary systems, street improvements and other essential expenditures of : the later-day city, including wise and proper educational facilities, the 2 per cent limit on the bonded indebtI edness of the city became a serious and irksome deterrent, —an obstacle in the path of honest progress. There was stiff opposition when a new constitution was urged to take the place of the 1851 document with its 1881 amendments. Yet the vital matter of school development pressed so vigorously and convincingly that it became necessary to find a way out for the schools. Adequate facilities could not be provided for the school system within the 2 per cent debt limit fixed by basic law upon the cities. Indianapolis was hampered and the situation was desperate. It was the late" Gen. Benj. Harrison who argued before the Indiana Supreme Court to the effect that the School City was a corporation separ-

ate from the Cicll City, and in itself and for itself entitled to expend for the schools r*eum equal to 2 per cent of the total of taxables in the school city. Now, of course, the school city and the civil city are one and the same physically, and in the matter of taxables. Yet the court agreed that the school city and the civil city were separate corporations, each enabled to go into debt up to 2 per cent of the total valuation for taxation in the city. This meant, of course, that It was possible under the decision to issue bonds up to 4 per cent of the total valuation for taxation. One of the things that made this radical step necessary on behalf of the schools was the fact that tax valuations were habitually set so low that the 2 per cent set by the 1881 amendment actually meant that cities were allowed to go into debt only up to practically 1 per cent of the actual taxables, as fully half those values never got on the tax books at all. Indianapolis, in time of local need, seized upon the decision in the Schol City case to show that a similar ruling ought to be made in favor of creating a new taxing unit which might levy special taxes and create new indebtedness for the erection of a park and boulvard system of large scope and of undoubted value and ' merit. Without special legislation Indianapolis could not develop her great plan for parks and driveways linking those parks with lamp-lined asphalt. It could not have been done under the 1881 constitutional bond limit provision. Came the big flood of 1913 and Indianapolis conceived her immense sanitary district flood prevention scheme. This in its turn called for still an additional taxing unit, and the sanitary district or floods prevention law was enacted to enable certain cities and sections to step over and beyond the 2 per cent sonstitutional limit to levy taxes and issue bonds to pay for dikes, levees, dredging and channel improvements such as those put through by Indianapolis. So it has come to pass that with four separate and distinct taxing units, each with power to raise money for public ends of various sorts, Indianapolis is not seriously hampered by the old-time 2 per cent limit on bonded indebtedness. Senate Bill 21, it is explained, would enable smaller cities, in emergencies of their own, to vote on the question whether they deemed it wise and necessary to create a special or extraordinary local debt for the improvement or enlargement off

public utilities publicly owned. These smaller cities now declare that in view of nil that has been done to empower Indianapolis to go ahead with her development, it is to be expected that Indianapolis law-makers this year will give careful study to the needs of other cities and to the question whether a 2 per cent ffiuit. actually hampers those smaller cities as it once tended to handicap Indianapolis. Under senate bill 21 it would be necessary to go to the voters of the city or town at a special or general election und get the majority endorsement in order to create a new ,

Holthouse Schulte & Co. Offer you a suit or an overcoat in HART SCHAFFNER & MARX quality that were made to sell For $45.00, $50.00, $60.00 and $70.00 At $33.75, $37.50, 845.00 and 852.50 All that need be said about them is “Every garment is good HART SCHAFFNER & MARX quality.” They’re all-wool to the last thread. They’re guaranteed to give satisfaction. The workmanship on every garment is of the highest class. All styles for men and young men are included. Comparison of valueswill pro\e this to be your best chance to save. Hats, Caps, Shirts, Underwear, Pajamas, Night Shirts, Gloves, Umbrellas and Bath Robes at reduced prices. All boys Knee Pants Suits discounted 25 per cent. Holthouse Schulte & Co.

taxing unit capable of levying taxes or Issuing bonds for public utility pur-1 poses. Before Washington, Indiana, for example, could raise money with which to extend the public service | rendered by her city utility plant, j the voters of that city would have to 1 agree, at the polls, to assume the ad ded burden and t,o accept the new taxing unit in addition to the civic ; city and the school city now In opar- ' ation. The bill is to be favorably re-, ported. Pension disbursements for the fiscal ' year 1920 aggregated 1213,295,814. a decrease of about $9,000,000 from last

year. s—s—s—WANT AOS EARN—s—s—s A WOMAN'S RECOMMENDATION Mrs. I). T. Tryor, Franklin Ave., Ostego, Ohio, writes: ".Nine years ugo I was very much afflicted with kidney trouble. I bought different kinds of medicine, but all at no effect, until one •lay I bought a box or Eoley Kidney Pills. I realized so great a benefit from the use of that box that I feel safe , in recommending Koley Kidney Pills to any kidney sufferers." They relieve backache, sore muscles, rheumatic pains and bladder ailments. I Sold Everywhere.