Decatur Daily Democrat, Volume 44, Number 51, Decatur, Adams County, 1 March 1946 — Page 7

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Flic sale nor health. I will sell at public auction 2 miles miles north of Echo on Poe and Echo road or ■■ miles north of Ossian, , March 8, 1946 Commencing at 11 A. M. —HEAD OF CATTLE—2S with 3rd calf by side; Guernsey cow. 1. with calf , <ow. with calf l»y aide; Holstein heifer with flrat >w witli second calf by aide. Large Guernsey due ■ of aaie; l<arg<- Guernsey cow. fi yr. old, due in v-otd. *•■ by.daifjul sale. .Mohteln it Jersey cow. Brown Swiss cow. 5. due by day of sale; Holstein ckli In May. Holstein cow. 2 yr. old. milking good heifer due soon, first calf: Black Jersey cow. 7, good; Two Holstein heifers due last of March; u< last of April; Guernsey heifer, pasture bred; coniine yearling heifer; 1 heifer 3 mo. old; Koan > Guernsey Hulls, 10 mo. bld. I B '' ’ "*• l ’" d; 9 • l -’’ 7 S,, oats. u Easy Milker, like new. . Ml BracTORS. THRESHER & IMPLEMENTS M*"' w c. Ifcifl tractor on steel, good condition; HuntI tractor, first class condition; Allis-Cbalmer. all steel ring ■ parator 4 all belts, first class; Mc-Deering mai. . wheel stock trailer; Farm wagon; Double set hreci Ling harness, like new; Ohio Mower. timothy hay: 75 bales straw. I'd' bit extra good [or seed; 51)0 bu. good solid corn. ’ j., bad, nalc will be held under tint : ■ Martin Gallmeyer » OWNER * * • s|,,h »■ I » ik. Hot lunch will bn served. ki i ■ j 1 HI \ i / ( I cl HI ■'ll fafck /’\ B Bf. sßf£4 ro \'>’ dll V] ttti rrr BS *JA UHLtaLJI ; ■ ■l||S ' I HIS PURE milk paints the Hoad to \j Health—fl IB Tsf ,OMr ch,,k * • rosy hue. I ■ ““rdmeos of royal health B f I * vh ’ nOrn i our wagon, brings to you. |fc ' OL *IL | **B^B' iM 58 ’BE It 1| Pk vJ M EK

Strong Support For G. I. Terminal Pay Subcommittee In House Favors Bill Washington, Mar. 1— (UP) — I Hl t ong house support developed ■ today for a bill to pul "Gl Joe" ' ou the same terminal leave basis i ax officers. A measure to provide terminal 1 leave pay retroactively to mem- I hera ot the urmed forces who ! served after Sept. 8. 1039, has been approved by a house military affairs subcommittee and is scheduler! to be considered by the full committee next week. Chairman Robert Sikes, !>., Fla., of the subcommittee said the war department estimated the measure would cost 81.8017.onii.ffnii fur enlisted men of all branches of the armed forces. Kat (muted cost for officers under the present program is |1,000,OOO.OOff. Although terminal leave pay for enlisted men Is expected to be fought blttealy by the army and navy, it has the endorsement of ehairman Andrew J. May, U„ Ky.. of the military affairs com mlttee and chairman Carl Vinson. I)., Ga., of the house naval affairs committee. The Hikes bill would pay Gl's for accumulated leave not to exceed 120 days plus a minimum ot 70 cents a day for quarters allowances and subsistence. In the event of the death of a former member of the armed forces before receiving the lumpsum payment. It would Im* pay able Io his wife or family. The subcommittee draft also would provide that only honor J ably discharged Gl’s would be eligible.

Ara, officials told the subcommittee that enlisted men Served an average of 2» months. If a private had no leave during that time—and figured on a minimum allowance rate of 70 cents a day for the 28 months— ha would be entitled to |I«S 88 under the bill. Unlisted men were untitled to 30 days leave each year.

Missing Child And Nursemaid Are Found Nursemaid Insists Child Not Kidnaped Annapolis, Md., Mar. I—(UP)— Pretty little TPrry Taylor wffa happily reunited with her parents today—just three days after she was taken from her Charlotte, N. C., home by a 19-year-oM nursemaid who said she merely had started for Washington to meet an unidentified soldier sweetheart. When her parents. Dr. and Mrs. Andrew Taylor, swept Terry iqto their arms, the vivacious four-year-old youngster was dressed in the same corduroy slacks ami blue Jacket she had on when she disappeared last Tuesday. Terry first muttered a sleepy "hello." Then she broke into a smile as her father and mother hugged and kissed her. Later, she confided that the nursemaid "Told me to call her. Mom'." The nursemaid. Rosemary Johnson. insisted that she had not kidnaped Terry. She said she merely brought her to Washington where she was to meet a soldier she had "taken to." Thia romance had not reached the kissing stage, she said. She claimed that she never had been kissed. She said she later came to Annaiwdis to make enough money to return to Charlotte.

Pauley Predicts He Will Be Confirmed — Rejects Pressure For Withdrawal Washington. March I—(UP!--■Edwin W Pauley predicted today that he would be confirmed as undersecretary of the navy •Tin convinced l<n going to win." Pauley mid reporters aWr rejecting strong Democratic. pressure that he withdraw from the fight “The only way 1 would consider withdrawing would be to be frog n out by the committee and I'm convinced that’s not going to happen." The rangy (.'alifonila oil tnan told the Senate naval affairs committee hearings on tils nomination now in the fifth week —that he would try to smash down all opposition “and vindicate my charge-t.-r." He complained that his character and integrity "have been—and still are being - smeared by Hcurrilous and unwarranted attacks.” He Interrupted tin brawling Senate hearings to charge one of his accusers with telling “a dirty lie.” Other charges of "cheap tactics." doithl -crosses, stealing, sellout-, broken contracts and nearblackmail were sounded as the committee sloshed around in the California oil situation, past and present. John A. Smith. small California oil producer and Important witness against Paul y, was revealed himself to have been involved in the alleged tJieff of oil from the Standard <»il Company of California in 1525. Smith flatly denied any wrong-doing, but struck back at his accusers by saying Standard and Pauley both had paid tin? s for stealing oil from the state of California. —— o Youth Arrested For Assault And Battery Don Schaefer. 21. of this city. Is being held in jail here awaiting arraignment on a charge of assault and battery as result of an alleged Incident here on January 17. Schaefer was arrested this morning by Deputy Sheriff Sam Bentz and lodged in the county jail until arraigned before Judge J. Fred Hui hie In circuit court to answer Io th<- charge. He in specifically charged in the affidavit with striking, beating and hitting In a rude and insolent manner Itolierl Strahm. of Huntington, about 12:30 a.m. January 17 in the Bellmont restaurant, corner of Thirteenth street and Nut I man avenue. Il is considered likely that his arraignment may la withheld until the prosecuting witness, who signed the affidavit, is contacted. -o Cumings Appointed College President Danville. Ind., March I—(t'Pl -1 Dr. Edgar C. Cumings today was appointed president of Cenltal Normal college. He has is-.-n aaaistant to the director of the Indiana t'uivanity eztenstott division.

DECATUft DAILY DEMOCRAT, DECATUR, INDIANA

1846 1946 * As it completes One Hundred Years of Transportation Progress... PENNSYLVANIA RAILROAD REPORTS FOR THE YEAR 1945

iMrOMB ITATIIMIWT INtOMR: Feer ttiii 1944 ! Freight>605,561,529 D >70.855,779 Psiteagtr 258,864,571 D 1.940.611 Mail 14,821,694 D 21.015 FtprtSS 10,056,165 D 1.927.154 Other 40,569.692 1 960,050 956,455.411 D 75.562,901 Otbar lacoma-ehiaAy dividends and interest off securities owned *41,990,622 I 5.717,975 Total 979,444,099 D 69.ff44.92ff tXPFNSES: Operating Expenses ■ 709,947,451 I 47,629.606 Tfct»t * 94.540.015 D 9ff.49ff.599 Equipment and Joint Facility Rents 10,909,4111 D 9<>1,269 Rent for Leased Roads, tbteresi on Debt, etc. . . 81,162,925 D 2.561.561, Total 950,459.799 D 94,152,559 Net Income 49,008,2 98 D 19.711,195 DISPOSITION OP NET INCOME: Appropriations to Sinking and Other Funds, etc. 5,600,996 I 4 56,4 50 Retirement of Debt - Pen nsy I van is R.R. Co. . . t D 10.767,970 Dividend of 9% (11.90 per share) 92,919,5*9 - Balance of Income 12,407,097 T 2,619,559 Wadado d<>i4*<>4 of 89,000.000 (per value) is Mcatiuet rtcei’td iiow Ptas»rl»Mi» Compaar. tffll.iay.SlO of debt was retired frets cuettoi cask •ad odwr *»•«• ia 1949.

RESULTS FOR THE YEAR Die high level of buiinev that prevailed during the war yean continued during 1945. the volume being the thud largest tn the Company'! hfitoty, and exceeded only in 1945 and 1944. Cotti of operation constantly increased due to higher cottt of labor and higher costs of materials Operating revenues of the Company declined >75,562,501. caused by the cessation of hostilities and labor disturbances in some of the larger industries. Expenses of operation increased >47,628,6*6, including $41,599,4/9 to cover the unainortizcd portton of the cost of emergency facilities required for the prosecution of the war. The Net Income in 1945 was >49.008.258 compared with >64.720,431 in 194-1, a decrease of >19,712,19.5. Notwithstanding this decrease in Net Income, dividends paid in 1945 were maintained at the same rate paid in 1944, 1945 and 1942-5* (|2.50 per share). TRANSPORTATION FOR THE FUTURE The country's vast system ot airways, highfravs and waterways will be expanded at the Government's expense, while al! of the improvement! for the railroad! will be privitely financed. The Coblemi with which the railroads are ced as a result of the war should have intelligent consideration by state and aational authorities wherever regulation ffntncts the opportunity for the rail* to ffoove forward. The railroads want no subsidy; they •ant equity They are a heavily taxed industry competing with subsidized industries. and all they ask is equality of Rp|tortunity. , As the railroads planned to meet the requirements of war, so they are planning for the opportunities of peace, and tiven a fair and equitable chance they ill furnish rhe public the best tn freight and passenger service TAXES The Pennsylvania Ratlroffd Company during the war years paid in taxes and disbursed for improvements and repairs, to mdet the war load a sum of money equal to the entire debt upon the property. A national railroad system without any <!ebr would place the railroads in the tame position as their competitors, as the Government furnishes a large amount of the capital for the waterways, the highways and the airways. There was much deferred maintenance during the war period. The Interstate Commerce Commission gave the railroods authority™ create reserves to nieet this situation. The taxation system, however. would not permit them to take any tax benefit on reserves so created, anil money that should have been set aside for this purpose was taxed the same as other income. Deferred mamtenancemust, therefore, be paid out of post-war earniags, and the more the post-war earnings are siphoned off through taxation, the less wsii be the money the railroads can spend *• rehabilitation and improvements. Railway taxes, aftft adjustment by tax credits ot >24,445,3*1 for prior war yffars, Mgether with Unemployment insurance

Pennsylvania Railroad 1 * * ’ ' W W WT MNB EMMMMMI MM < i > '*' J ' / • < ’ U

taxes of >12.741.141, and Railroad Retirement taxes of >19,802,891, aggregated >54.340,013. LEGISLATION To clarify the intent of Congress with respect to carriers subject to die Inter state Commerce Act, and to resolve any regulatory conflicts with die Antitrust laws. Congressman Bulwinkle of North Carol ma introduced a bill. H. R 2536, known as the Bulwinkle Bill, which give sucli carriers protection from the Antitrust laws only to the extent that their acts and procedures have «4>taiucd prior Commission approval The Bill was endorsed by the Interstate Commerce Commission and numerous state commissions, and by public and commercial bodies and by shippers and producers generally It wss passed by the House by a large majority and now awaits action ny the senate To insure consistent policies with respect to legislation, and the future efficiency of the transportation system, the Bill is worthy of the earnest support of the people, who have recently seen the vital importance to the nation of the ability of the carriers to work together in the public interest. FREIGHT AND PASSENGER RATES The railroads have done the war job with practically no increase in freight rates and a relatively small increase in passenger fares—2/10 of a cent per mi! in basic coach fares and 9/10 of a cent pet mile in fares good in Pullman cars Die year 1946 will be one of greatly increased cost of operation and maintenance with a decreasing business, and it is therefore imperative to consider the need for increased railroad freight rates The railroads were granted a 5% increase in freight rates, in May. 1942. which however was suspended until six months after the war; but. as the situation appears to be developing, it will be necessary for the railroads to petition the Interstate Commerce Commission for an increase greater than that under suspension, in order to meet greatly increased expenses and avoid deficit operation. Large expenditures must be made for the rehabilitation of the railroads. All of these necessities will require money in large amounts. Money tequires credit, and the credit of the Company is very much affected by the rates at which tlie business is carried. REDUCTION OF FUNDED DEBT Maturities during tlie year amounted to >11,807,880. which together with other debt retired and canceled amounting to >9,382,000, made a total reduction of >21,189,880 in 1945. Dus re duction was offset, in part, by the issuance of >16,290,000 Equipment Trust Obligations In addition, as a result of refinancing of bonds and purchases from the public, other debt of System Companies was reduced >5,380,087.

PAGE SEVEN

The debt ol the System in the hands of the public was. therefore, reduced >10,279,967 in 1945, making a net reduction of >148,670,000 during the last six years. REFINANCING OP BONDS Die Company continued its policy of taking advantage of the prevailing money rates to refinance certain of its bonds, as well as those of its affiliated companies, and was able to make some very advantageous refundings, from which it will ultimately realise approximately >47,000,000 of ravings. EQUIPMENT Die ending of the war made it possible to acquire materials for construction of passenger cars, and there are under construction one hundred and twelve modern passenger train cars, of lightweight construction. of which ninety are being built in Altoona Shops, and twenty-two by an outside builder They are the bnest type ever to be built for the Company, and are especially designed for safety. Since the close of the year, orders have been placed with outside builders for the construction of two hundred and fourteen passenger train cars of which one hundred and fifty-nine are to he sleepers, for the improvement of the post-war passenger service on the railroad. Twenty five of the largest and most modern steam freight locomotives and tenders were placed in service during the year Orders were placed for fifty additional steam passenger locomotives and tenders and part of the order was delivered One Diesel electric passenger locomotive was delivered during the year, and ten more were ordered. On December 18. 1945, the District Court of the United States for the Eastern District of Pennsylvania approved the sale by Pullman Incorporated to a Buying Group of Railroads ot all rhe outstanding stocic of its wholly owned subsidiary, Die Pullman Company, which owns and services the sleeping cars. Die Pennsylvania Railroad Company, as one of the railroads in t.ie Buying Group, has purchased from The Pullman Company 112 lightweight sleeping cars assigned for service on its lines, as well as 12 5 regularly assigned parlor cars. RESEARCH The Company, always seeking through research in science and technology, through discovery and invention, to be m the forefront of progressive improvement in railroad travel and shipping, has continued to move forward during rhe year Through its own research staff, through the research laboratories of the Association of American Railroads, and cooperatively with equipment manufacturers. the Company is alert in utilizing to the utmost improvements in the held of electronics, metallurgy, chemistry and engineering, which can he applied to increase the efficiency. comfort and safety of rad transportation EMPLOYES As we come out of the war and enter the peace, it is a pleasure to a< knowledge the efficiency and loyalty of the employes of the Pennsylvania Railroad and their devotion to duty. From the low ebb of the depression in 1958. with a depleted force, the Company moved into the heavy traffic of the war. met the peak load of its history, both passenger and freight, and is moving into the reconversion era Die Managemem wishes to acknowledge the splendid way the employes served their Country and the Company by meeting successfully every emergency they were called upon to face. STOCKHOLDERS The growth ami expansion of the Company during the one hundred years of its existence is reflected in the number of shareholders, the shares outstanding and their distribution When the Company waschartered there were 2,655 subscribers to the original issue of Mt,257 shares of stock of die par value of >SO each, being an average holding of 22.87 shares by each subscriber On December 51, 1945, there were 214,995 holders of stock, and the number of shares outstanding had grown to 13,167,754 The average holding was 61.24 shares. M.W. CLEMENT. Pan Jan

WHERE THE DOLLAR WENT WAR YIARS H41.1H5 erwt OMSCtS •cwo warm ■n 1 II i un J? or** ■) wNW SMorxtn ruaroM; After providing for operating expense*. Is»tereet, rentals and other neceeeary chargee, over balf the remaining income went to taxeff. NIT REDUCTION IN SYSTEM DEBT IN HANDS OF PUBLIC SII YEAR RWUCTIOR MMZff.OOO (W4B-1945) JX114.000 '2ff.MS.OOO 51.184.000 ■ Y 2)700.000 B J ■ S ’2C.040.9008 5 B I Bjjll B 3 B 3 fl ■ fl loiiofioo ifl~ fl B rJNMJ a—- — Jiff | H" fl IgmClfl ■ fl kj2 £ !lj JB onuiMtai There has been a steady and substantial reduction of funded debt in the hands of the public, as this graph shows. Over the last sis years The Pennsylvania Railroad System debt has been reduced >148.070.000. INCREASING EQUITY Os UOCttHOlOlti PRR SYSTEM 92.902 12.780 ffiVlSTMttiT IN PLANT miuiom* Miuiows —if! i'i —1 —' —H I ■ II | ill 1 iL nmSi HUB WBJ *’** MKUOHi H I H imi imi rrrn ityw nm rrm This chart shows how the property Investment In the railroad system has steadily grown while publicly held debt has decreased. The money put back into the railroad not only has Increased the stockholder's equity but has brought the total investment to a point where it is equal to more than (17,00* per employe. « BRIEF HISTORY 01 the tailroad's growth and development over the hundred years since its founding April 1.9, 1840. Is included in the Annual Report sent to stockholders, txtpie* of it may be had by writing Office of the Secretary. Broad Street Station Building. Philadelphia, Pa. :» :■ 4 » 4 0. ' - - ' —