Decatur Daily Democrat, Volume 35, Number 303, Decatur, Adams County, 24 December 1937 — Page 4

PAGE FOUR

DECATUR DAILY DEMOCRAT Published Every Eveninc Except Sunday by »HE DECATUR DEMOCRAT CO. Entered at the Decatur. Ind. Post Office as Second Class Matter JI. H- Heller - President R. Holthouse, Sec y. & Bus. Mgr. Dick D. Heller Vice-President Subscription Rates: Single copies — ——l 02 One week, by carrier .10 One year, by carrier — 5.00 One month, by mail .35 Three months, by mail —— 1-00 Six months, by mail —— 1.75 One year, by mail .. 3.00 One year, at office ....... — 3.00 Prices quoted are within a radius of 100 miles* Elsewhere J 3.50 one year. Advertising Rates made known on Application. X tional Adver. Representative SCHEERER & CO. 15 Lexington Avenue, New York 35 East Wacker Drive, Chicago Charter Member of The Indiana League of Home Dailies. Merry Christmas to all. Hope Santa tills your stocking to the brim and some over. Decatur merchants report business as good as last year which was a record breaker. School children are happy not only because it's Christmas but because the mid-winter vacation begins today. The schools at Miami were clos ed by cold weather, probably sent down that way by the Los Angeles boosters. The Daily Democrat newsboys, a happy lot of youngsters who each evening bring the paper to your door, wish you a merry Christmas. Be a bboster, help Chief Melchi and his assistants enforce the new traffic ordinance with the least difficulty. It means much to every one. Invoicing will come next week, then the January sales and the first thing we know, it will be spring and won't that be wonderful? There are miles of smiles today as early Christmas greetings are exchanged and indications are that tomorrow will be an old fashioned happy occasion. No double parking and downtown parking for not more than an hour, with “no parking" restrictions On certain fire routesFamiliarize yourself with these regulations and help enforce them. The weather may not be ideal, but remember that Christmas day about three years' ago when the thermometer registered ten below zero. Now which do you honestly prefer? The Good Fellows club is sincerely and deeply grateful for the fine response for funds and those boys and girls who arc being made happy as a result, we are sure likewise feel very thankful. Be careful about overeating but of course if there is a day in the year when it’s hard to refrain it’s at Christmas time, so perhaps it's wise just to advise that you be as careful as you can. It's a good time to start your Christmas planning and shopping for 1938 and a lot of us feel we will do that. One nice way to arrange for the great holiday is to CHANGE OF ADDRESS Subscribers arc requested to give old and new address when ordering paper changed from one i address to another. For example: If yeu change your address from Decatur R. R. 1 to Decatur R. R. 2, instruct us to change the paper from route one to route two.

start a Christmas Saving membership. Decatur can have 350,000 for, slum clearance by raising 35.000 of it. The question now to be decided is whether or not there is a need here tor this kind of houses and how the proposition can or should be financed. Under the law and the regulations, ten per cent of the money thus used must be raised locally and the sum mentioned has been earmarked in | Washington until it is decided whether any action will be takem here. The idea is to replace hovels ' with new homes, to be rented or sold on a room basis. The selection of Curtis G. Shake to succeed Walter Treanor on the supreme bench in Indiana will please the great majority of people. As an attorney at Vincennes for twenty-seven years, Judge Shake

has built a reputation as one of southern Indiana's best . Sound of judgment, well informed ■ in Blackstone, a real fellow, he ! will make good in the new and E high position. Judge Treanor will become a Federal district judge in Chicago and the good wishes of thousands who recognize in him, 1 the qualities necessary to make a great record, will follow him during his continued successful car- ■ eer. i It's Christmas Eve, than which there is no finer holiday. It is observed not only in America but all over the world and is the tend- ! erest and sweetest of all the year s • festivals. No wonder it was a day for Scrooge to change from a ; hard hearted, tight-fisted old man ■ •j to a regular fellow, anxious to 1 serve and please others and a philanthropisU Look at the happy faces I of the children as they gather a-j bout the tree or tn front of the fire place or stove tonight and tor morrow and all of us are children L at this glad season. There is a splendor and a glory about it that few can deny. Preparations here are complete to make this the very merriest Christmas of all and s I we hope you each and every one find the happiness you long for most in your Christmas. r In accordance with the order , from the state highway commisI sion and to comply with the law I which provides that the commission take over the roads which run through towns and cities, the . Decatur city council has enacted i' an ordinance providing parking . hours and at certain points, no I parking, which of course must be > enforced. We hope and believe ev-' ery citizen will aid iu this effort to meet the state requirements and , to prevent accidents resulting r from poorly regulated traffic. To - make it easier for those who “for- ' get to remember” the new regula- ' tion, the ordinance provides sor 1 reminder fines of one to three doll-1 ars for first, second and third vio- ‘ lators who report within 48 hours after being notified. You may not I like it, but there is nothing else j to be done if we are to retain our place on the main highways and even without them, the traffic problem is a serious one. Double parking of course is banned by the new ordinance, which is effective the first of January and it is probable ' i that spvpral will have to be called 1 on to pay the city clerk a dollar until it becomes understood that the law is really being enforced, | You can help greatly by recogßlxing that this action is taken for the general public safety and i meeting the requirements without, . complaint. o POPE ATTACKS (CONTINUED FROM SAdS things in Germany, where there has been in existence for some time religious persecution. This ! persecution has been denied. But I we know there is persecution, and I persecution which has hardly ever been so frightful and grave.” __o Periscopes have been invented in Europe to be attached to stiff hats to enable persons to see over the heads of crowds, immages be’ng reflected through a hoi? tn a hat brim to mirrors before the eyee.

No Time to Sulk —~ 3 — 'MJ? - ... A ■ ■ i ,?'ta 13*1® Co« Dx te. WwW r-ihn re«n«l -M., -T U 'NRJ rj.-V»VW' wv »

Indiana Business Outlook As Seen By University Experts

(Editor's Note: This is the second of our series of reviews and forecasts of Indiana business prepared by faculty members of the 1. U. School of Business Administration.) Commercial Banking In Indiana In 1937 by Dr. H S. Sauvain, Director, Indiana University Bureau of Investment Research and Associate Professor of Finance. During the past year the commercial banks of Indiana have I n ide further progress in strengthening their position, and are today! probably in a sounder condition i than in many years However, they i have made relatively little pro-! gress toward solving the problem of obtaining adequate earnings! The average, well-managed com-, mercial bank in this state is today; earning about six to seven per-1 cent on its capital funds. This rate of earnings is by no means adequate to provide proper reserves against possible future losses and afford stockholders a fair return on their investment.

tributed to the poor earnings situation of the commercial banks. It is well known, of course, that there has not been the normal expansion in the volume of bank loans for business purposes during the recovery period despite the fact trta,t the banks, generally,' have been eager to lend on sound credit risks. Moreover, they are! currently lending at the lowest rates in recent history. Neverthe-1 less, the abundance of bank credit, | created largely through the Fed-| eral governments deficit ftnmjl cing, has materially reduced th<*' need for business borrowing. Bond Interest Abnormally Low i As a result, most banks have! been obliged to increase their in-1 vestments in securities in order to obtain some return on their j funds. However, the rate of return on bonds of a quality suit-[ able for bank investment has been . abnormally low because of the prevailing easy-money policy of the. Federal authorities. Under these ■ circumstances, it is noteworthy that the commercial banks have resisted the temptation to purchase securities of poor quality merely for the sake of a higher return. On the contrary, there h«s been a tendency to improve the quality of bank bond portfolios. These circumstances have materially reduced the gross income of the banks without a corresponding reduction in expenses. Os course, the general elimination of. Interest payments on demand deposits and the fact that the banks are paying relatively Iffw interest rates on time deposits have helped the earnings situation. However, even these low rates on time deposits are hardly justified by the returns which the banks are able to earn on the deposited fundsTax Burden Increases The most unfavorable develop-

DECATUR DAILY DEMOCRAT FRIDAY, DECEMBER 24, 1937.

ment from the expense standpoint is the increasing tax burden. A recent study shows that the state chartered banks in Indiana are more heavily taxed tahn banks of all other states in the Union, with two exceptions. The Federal social security taxes and the Indiana intangibles tax have proved particularly burdensome. The outlook for bank earnings does not appear to be especially favorable at the present time. The Federal government seems to continuance of its easy-money policy, which means that yields on investment securities and interest rates on bank loans will probaldy continue at the current low levels. ! There has been some expansion in ■ business loans during the past ' year, but this upward trend has j been checked by the recession in . business. The uncertain current ‘ outlook for business provides little i basis for optimism as to the prospects for any immediate increase in the volume of loans. Apparently any marked improvement in bank earnings will have to be brought about either by seeking new sources of income or by further reducing expenses. A num-

Head Ohio Graft Investigation r <•» t /< Heading an investigation on charges of graft in the administration of Gov. Martin L. Davey of Ohio are James Metzenbaum. left, chief counsel and investigator, and State Senator J. Ralph Seidner, right, of Youngstown, chairman of the , senate investigating committee. Their work will include checking finauws aud activities of all departmeats oi Hie state government, provided expense money is voted. The action was taken by a coalition in the senate—voting 31 to. 5 in favor and including both Democrats aud Republicans who seek information on the administration of Gov. Davey who is an auti-New Deal Democrat.

ber of banks are entering the field ■ of consumer financing by the establishment of personal loan departments and by undertaking Installment sales financing. However. the desirability of venturing in to this field of financing has not yet been clearly established. There may also be opportunities in the field of real-estate financing, but again is a question n f hr»w far a commercial bank may safely proceed in this direction. On the other hand there Is apparently little possibility for reducing batik operating expenses by internal economics. Salaries of hank employees aTe tending to rise, rather than to decline, and interest payments on deposits have al--1 ready been reduced virtually to a minimum. Tax Reduction Needed In the last analysis, there is little hope for any improvement in bank earnings in the near future other than by reduction of the tax burden. The tax load now being carried By Indiana state* chartered banks is neither fair to (them nor to the interest of the public. It is not te the interest of the public simply because it is not conducive t<> the maintenance of a strong, healthy banking system. When a commercial bank is hard pressed for earnings, there is naturally a temptation to assume un-

I due risks wRh depositors’ money. | ' At best, such a bkmk is unable to build up the reserves necessary as a protection against the ups ‘ ; and downs of business. There are, of course, other alternatives, such as increased ser-j vice charges, but the simplest and most desirable course at the pres-I I ent time would seem to be a lightening of the tax burden on the; hanks. J (Monday Dr. Arthur M. Weimer will analyze the real estate business iu principal Indiana cities. Answers To Test Questions Below are the answers to the Test Questions printed on Page Two « ( 1. New Hampshire and Maine. 2. French painter. X France. 4. A white metal. 5. It is one of the Hawaiian group, ! 6. Charles Dickens 7. Glyptics. 8. Hispaniola. 9. A process for separating collodial and crystalline substances. 1 10. The Nile. — 1. That is the name of the four I nonmetal’ic elements, fluorine, chl- ' orine, bromine, and iodine. 2. Wyoming. j 3. A fabric of horsehair, woven : on a warp of cotton, linen or worsted. 4. Mercury, Venus, Earth. Mars, Jupiter. Saturn, Uranus, Neptune, and Pluto. 5. Complete or partial loss of the ' power to speak or understand i worcls. 4). "They shall not pass.” 7. Thomas R. Marshall. 8. An agent for removing hair from the Skin. 9. Shakespeare. , 10. Massachusetts. o Modern Etiquette | | By ROBERTA LEE j : MODERN ETIQUETTE Q. Is it a husband's duty to write 'or telegraph his wife every day while his in away from home? A. A considerate husband will do I so. Q. What should a woman wear to an opera matinee box party? A. Either an afternoon or a semiformal dress. Q. Was there ever a time when 'it was considered proper to eat with a knife? A. Yes, around the 17th rentiiry. Q. Should a house guest leave a ! tip for a servant who has done •. some special service? A. Yes; it is the proper thing to i j do. Q. What kind of affair would be . appropriate for introducing a newly ■ acquired daughterin-’aw? A. An afternoon reception. Q. Is it permissible to use ruled I stationery in social correspondence. A. No; the paper should be un--1 ruled.

Household Scrapbook | By Roberta Lee * • Table Top To remove paper that is stuck i to the top of a polished table, put ' a few drops of sweet oil on the pa- ' per and rub gently with a soft cloth Polish in the usual way. Washing Bottles The water will flow more rapidly out of narrow-necked .pottles, when washing them, if the bottle is inverted and shaken with a circular This is the best deal j I EVER had! I AL D. SCHMITT has 38 of the finest used cars money can buy! 1- 1937 Ford 85 Tudor, Radio and Heater 1- 1937 Ford 60 Tudor, Blue 1- 1936 Chev. Sedan, Trunk and Heater 1- 1935 Ford Coupe, Tan, low mile«oe l1- 1935 Ford Tudor, Green, Heater 1- 1935 Auburn Sedan, New Tires, Heater 2 - 1934 Master Chevs., Heater and Radio 2 • 1934 Ford Tudors, Al. Heater 2 - 1934 Ford Fourdors, Heater 1- 1932 Plymouth Sedan, new tires 1- 1932 Chev, Tudor, Black, heater 2 • 1932 Fords—Heaters. t These and many others. All cars winterized and ready to go. Come in and drive a bargain. AL D. SCHMITT MOTOR SALES Phone 143 203 Ist St i Decatur, Ind.

Something N ew j n San& J '"ml wl \ Ba > -JU . V 1 r Plane repl.i-i s ruiKkf. >J| l,i jflTiriiiii™i J When Santa Claus visited Lakewood. 0., aeveland suburk ed his reindeer and used ar. airplane. His trip was midtaZi the “wings were clipped” and the ship mounted on wl circulated through the streets and stopped to permit th J to whisper their wants in San.Ui ear" ™ 111 —' ■’V—

j motion. Gravy Salt will curdle new milk. In pre- 5 paring gravy, porridge, etc., the, salt should not be added until the dish is prepared. Fresh Ink Stains ! lA fresh ink stain ean be removed . from a carpet by pouring milk on jthe spot and pressing it with blott- | ing paper until it is all absorbed. This has to be done immediately \ or it will not work.

Bodacious NeJ /z I /- i e A* ° s x Wtega jb fevWTO WJ uv '' '" !l They’re a kernin round! mounting and hemin ’ right soon too! Snuffy and Lowizie Smith, folk, new found friends of onr oHfo BARNEY GOOGLE, have comedown the mountains and walked straight into hearts of Americans everywhere. You’ll love Snuffy and Lowizie. one says they are the funniest coupe have ever shown their faces Lowizie says she knows her P'” 1 grandest man uhut ever i<»mountings and paw, even thoug“ her to quit blattin yore brains ou quite agrees with her opinionOnce you’ve made the acqn«« thia delightful couple .nJ -* , want to nuss Weaselpuss, you won t wan them. BARNEY by Billy Deße® * 97 in tltf Begins Monday, Dec. ’ Decatur Daily

Burnt Cate When a cake tuns aid I removed from the til J a damp cloth for ah, j | ter which the cake ml removed. Kerosene Uta A kerosene listen «i ' mnch brighter light ft ltd of salt is added to tberi i bowl. Get the Habit - Inti