Decatur Daily Democrat, Volume 61, Number 297, Decatur, Adams County, 18 December 1963 — Page 5

WEDNESDAY, DECEMBER 18, 1963

Central Soya Not Involved In Case Central Soya is neither affected in any way, nor involved in the bankruptcy procedures of the Allied Crude Vegetable Oil & Refining Co., Harold W. McMillen, chairman of the board, announced today. The company, McMillen explain-

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ed, mailed out letters to all of its stockholders Monday explain- : ing this. The letters were receiv•ed Tuesday and Wednesday of this < week in Decatur by the stockholders. ' ' How It Happened “ Allied Crude apparently bought e a number of soybean oil futures at high prices, hoping that the * market price on soybeans would l * advance, perhaps on the sale of l ' soybean oil to Russia. The sales were backed by stocks of oil that »- have been found to be at least

$l5O million short of the loans made on them. - . Soybean oil futures hit a high of 10.05<* Friday, Nov. 15, and a low of 7.05c 1 Monday, Nov. 19, and Allied Crude went under, declaring bankruptcy. The present price, McMillen stated; is. 8.054 a pound, two cents under the high. This price reaction, he stressed, does not indicate that the consumer will be hurt. The supply of soybean oil still seems to be greater than the demand, Mc-

THE DECATUR DAILY DEMOCRAT, DECATUR, INDIANA

Millen closed. Letter in Full Hie letter sent out to stockholders by the company xead as follows: \ "At the annual meeting of stockholders of Central Soya held Wednesday, December 11, the following statement was made in answer to a question from the floor. We believe those of you who could not attend will be interested. ‘‘During the past weeks, the public’s attention has been directed to the bankruptcy proceedings

involving the Allied Crude Vegetable Oil & Refining company of Bayonne, New Jersey. Because many companies in our industry have been mentioned in the press as being creditors of the Allied Crude Vegetable Oil & Refining company, we have received numerous inquiries regarding Central Soya’s relationship with this company and ijs associated companies. “We wish to assure you that Central ' Soya is in no way involved in these bankruptcy pro-

ceedings, nor is it directly affected in any way by the termination of the affairs of this company and its associated companies." ) 20 Years Ago Today 0 — 0 Deq, 18. 1943 — Nine Decatur men have completed a course in rifle instruction under the national rifle association program, and a

second class will be started Monday. ' ‘ The Decatur Catholic schools have received a citation from the U, S. treasury department for service to the war savings program. The Decatur General Electric Co. plant has taken the lead in the war on waste drive, conducted in the Fort Wayne, Kokomo and Decatur plants. Members of the Gecode club held their annual Christmas party at the K. of C. hall. - Hiah school basketball results

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Decatur Yellow Jackets 52, Monroe 28; Garrett 43, Berne 38; Monmouth 47, Jefferson 27; Huntington Catholic 29, Ple&sanf Mills’ 27 (overtime'; Lancaster 33, Kirkland 18. Shoelace Repair , Instead of the usual procedure of tying two ends of a broken shoelace together, take a little extra time to lap the broken ends over each other and sew together. A repair like this will last longer and look neater. 1...