Indianapolis Times, Indianapolis, Marion County, 6 November 1936 — Page 31
be at the mercy of
ance Has Set Up a Wheat Plan, Flynn Says.
BY JOHN T. FLYN YORK, Nov 6.—We. are
only to wheat, As you read - about it you get the impression that France, like America, must be suffering from a surplus of wheat and that it is : necessary to reMa. Fiyun duce production. But this, of course, is not so. France's aim is to insure produétion of sufficient wheat within her own domains for her own purposes. To do this she has kept out imports as much as possible and kept the prices of wheat to farmers up as high as possible. It is these high prices which make what seems to be overproduction. What France wants to do is to insure the maintenance of these high prices “in order to encourage wheat production continuously. But to do this it is necessary to plan and dominate the wheat markets.
do this, therefore, France has ' set up a National Wheat Committee, not unlike our Agricultural Adjustment Administration. It differs, however, in one important feature, The AAA was under the Department of Agriculture and to it were named men who were supposed to represent the interests of the farmers. Blum'’'s AAA recognizes that there are other groups interested in wheat as well as farmers. There is a National Committee of 50 made up of farmers, millers, merchants, bankers and, not the least, consumers. Later—next year I think—farm-
ers will be given quotas for produc-
tion. But until then they will be given instead quotas which they may sell. In June the National Committee will estimate the wheat crop and then notify each farmer how much he may sell. But in November a schedule for staggering sales will be set up. That is to prevent all wheat coming on the market at the sake time and disorganizing the prieg save as it may culators.
» =n =
A LL wheat will be sold to cooperatives and private dealers ‘and speculation in wheat futures on exchanges is forbidden. Then in August of each year the price of wheat will be fixed by the National Committee, It will also
~ decide how much may be imported
and what the imported price will be. The price of bread and flour
‘will be fixed by the mayors of
towns. There are provisions for financing the plan. They consist in subsidies for the co-operatives, but,
__of course, not. for the dealers. They
also comprehend methods of enfarmers to collect for wheat which they hold because of the staggering of sales or voluntarily. Farmers who produce more than their quota must deliver the excess to the National Board.
It will be seen that with production quotas, sales quotas, price fixing, etc, the farmer of France, said to be the world’s most casehardened individualist, is going to have to subject himself to some pretty extensive collectivism. {Capyright, 1936, NEA Service, Inc.)
Building Permits . “a Willey, 5417 N. Illinois-st, dwelling, Illinois 133 W. Washington-st,
and 38th-sts, Pearson, Inc. sign, $750. Chillson Motors, 923 N. Meridian-st, sign, $275. Ha Drug Co., Illinois and Ohio-sts, sign, $350. Bare "i Highland-dr and Collins-st, Neh. 3
tematins. Edwards Reality Co., 411 Blue Ridge-rd, furnace, $765. Charles L. Falvey, 5165 Pleasant Run, 8. Drive, furnace, $765. T. W. Balwed, 523¢ N. Capitol-av, furnace, $765. Ci G. C furnace, Robert F. Tobin, 2226 N. OCapitol-av,
1039 S. East-st,
Gran, 3908 Guilford-av, al$650.
lager, Delaware and §7th-sts,
garage, $150
Marion Whecking Co.,
wrecking, $1 "Carl R. Schwitzer, 2525 N. Talbott-av,
~ stoker,
Mr. Oliver, 1302 E. New York-st, stoker, $300
Ningio Bruno, stoker, $300. “C. A. Huff, 515 E. 39th-st, stoker, $300.
3019 College-av,
ol > Irnstein, 340 N State-av, stoker, era Dehintey, 3 915 N Bolton-av, stoker,
Lunstone-st, furnace, a yberte Armstrong, 1501 Samoy-st, furmace 350 Saulton, 410 Beecher-st, furRealty Co., 122 E. Ohio-st, furnace, “BB. Briggins, 2178 Dexter-st, furnace, Smiley, 5056 Oak-av, furnace Strong, 950 W. 3ist-st, furnace, . Staley, 380 E. 30th-st, furnace, Clay, 2838 Carrollton-av, furnace, Sauter, 1765 Madison-av, furte Montgomery. 3214 N. New Jersey- , 5739 Broadway, furnace, ne a ae W. 10th-st and Naik, 310 Braabury-av, electrical, Co, 3ind-st and North-
Refining a slectrical, $350
PAGE 30
FOOD PRODUCTS IMPORTS SHOW
Department of Commerce Reports 8 Per Cent Gain to Date.
By United Press WASHINGTON, Nov. 6—Imports | Tex of food products during the first nine months of the year increased 8 per ceht over the corresponding period of 1935, the Commerce De- '; partment reported today.
Exports of rubber manufacturers ' in September increased 37 per cent over August; iron and sleel imports | 2.
ployment and production in the | manufacture of business machines | showed pronounced increases in 1935 over 1933,
Imports of food products and beverages during the first three quarters of this year were valued at | 2 $529,326,000, compared with $500,- (N 725,000, for the same period of 1935, the department said.
Imports of whisky rose $170,000,000; cane sugar mounted $105,000,000, and wheat increased $106,000,000.
Iron and steel imports during September totaled 51,051, gross fons
6 per cent in quantity and 5.5 per cent in value when compared with the August trade.
New Bond Issues
(By Lyons & Co.)
Allied Shares 33%s_'61. Arkansas Gas 4s ’51 Associated Telephone 43 '650 . Am Tel & Tel 4 61
B&O : Beth Steel 3%s '60 Cal Ore Power O:ntral Maine 4s 1 Central Maine Power 3'as "8 Central Lite 3's ’66 Cincinnati Gas & E 3%s "66. . Cleveland Tractor 5s '34 Commercial recht 3s, "1.
Cudahy g ..1 Edison Illum Boston 3! Yas 65 . Gen Motors Acc Corp 3s ’48 Gen Motors Acc Corp 3} 28 3 Gulf State Steel 4%s ‘51 lowa South Utilities 5%2s ’66. . Water ig '66 L P 4%s’ Los Angeles G = L 38.70...
10433 104% Pacific Lighting at 45 E Li ‘98%
e Wks ’61 - o8;
Southern Cal G Southern Kraft 4l2s Union Pacific 3s '70 . Wisconsin Gas & Elec 35s 63’ 103% Wisconsin Pub Serv 4s '61
Investment Trusts (By Thomas D. Sheerin & 00)
Administered Fund 2d Affiliated Fund Inc American Business Shares .. Broad Street Investin Bullock Fund Ltd Century a Trust Corp ‘AA’ or ‘Accum’ orp ‘AA’ or ‘Acc’ (unmod.) Corp Trust Shares (crig.) ah Diversified Truste eShs “B’.. Diversified Trustee Shs ‘C’.. Diversified Trustee Shs D’.. Dividend Shares Inc General Investors Trust ....
120. 66
nd Amer Market Street Invest Corp.. Maryland Fund Massachusetts Investors Mutual Investment Fund ... Nation-Wide Voting .. 6 North American Tr Shy 1955 3.78 North American Tr Shs 1956 3.80 North Amer. Tr Shs (orig.).. 2.90 Quarterly Income Shares .. 18.70 Amer Shares Inc... 13.85 Amer Shares (orig.) 4.26 fumulasive J Shares.. 10. 1
re. tate Street Invest Corp ..127.00 Subervised Shares Inc (Del.) 15. 33 Am Bk B 1.1
ustee Fe Trustee Standard Oilshs ‘A’.. 7. 1 7.11
Trustee Standard Oilshs ‘B’ . United Standard Oilfunds... 1.12
Unlisted Stocks
(By Blyth & Co.) NEW YORK STOCKS
§ selectec |
Irving feving National City . National Shawmut Boston .... First National Boston F: INSURANCE Aetna Fire Insurance American Ins of Newark Baltimore American City of New York .... Franklin Fire
Great American Insurance .... National Pire Hartford Home Insurance * Hanover Fire
Froduse Markets
(The prices quoted are paid for stock gathered in the country. while for dee glies 1 in Each Tull oa the
full 5 il Rross Eggs. No. " strictly .fresh, loss off 20¢ dos. Heavy Breed 2 3 Ibs. and over, 14c. under § lbs. 11¢: Leghorn breed hens, beavy. 9c: colored gpringer under 42 10c: over, 12¢c: Legho spring= 10c. Ducks. full Toathered. 13%, Te. Geese. 4c. Butter reamery. No. 1, 36@ 37: No. 2. 33@34c. Butterfat. 0c.
(By United Press) CHICAGO, Nov. S Esui-Markel, firm; 32¢ y- s ties 25%¢; firsts, + ra 3 ret receints; 30c; chickens, se.
Butter—Mark receipts, 1 tubs. extra firsts (90-91% score), ise: (92 score), 32%ec; firsts, Sie specials, 32'2@33¢c; standards, 3 Poultry — Jiarhet, Steady: ts,
geese, ucks, ring chigkens. 12% @16¢c; hens. “a @iftie!” brtilers, 15@16¢c; rier. 13a iis: 12@13. ve . od
Cheese—Twins, 1715@ 17%e: 1c: Jonghorns. 186 18%": Yates Ne
slow and limit
prices are 1 cent case of eggs must weigh
ers.
INCREASE IN'36
rose during that month; both em- | U
valued at $2,208,830, an increase of |E
Jag Corp . P sin A on on ot Cal ..
Steels—
id. ! Natl i Otis Stee 17% AE 1ioa &. Sigel 2574
: 3are lu 8 Steel fd. 148 1g 8 5 5 is Youngstn 8 & T 87%
Auburn Chrysler Gen Motors .... granam Mot
Studebaker Yellow Truck ...
Motor Access—
i 70 Timken Bor Axle 247 Mining— Alaska Jun 18%
99% 54
Cerro De Pasco. Dome Mines ... Gt Nor Ore . Homestake Mn "42 Howe Sound . ns Copper [nt Nickel . .. [s] Creek Coal.. Kennecott Cop.. McIntyre Mine..
Vanadium Amusements— Crosley Radio .. 3 Fox Theat 3 Loews Inc Radio Corp Paramount RKO
Warner Bros ... Tobaccos— Am Sum T
Philip Morris _. Reynolds Tob ‘B’
at
Can oF attic cee & Ohi
Eni & Gb W CM&StP
Cent N Y Ont & Nor Pacific .... Penn RR .-
Wabash Ya West “Maryland « 9% Equipments— Am Brake Shoe. 3h Am Car & Fdy 53%
Am Loco . 3612 Am Steel Fdy.. T 47% Bald Loco n
ress Sha Westingh Elec. . “14708
Utilities— Am & For Pwr.. 7. Am Power & Lit 11 T&T 18 Am Wat Wks ... 26's Col Gas & Elec. 19 Comm & Sou ... Consol Gas . Elec Pwr .& Lit . Int’ Hydro Elec. Bpsraoro T. t-T X Not Pwr & a North er “iis Pac 3 Peoples Gas _.... Pub Serv N J... S0 - Cal Edison...
1 cri 151 1 r & Lt 3% Western Union... 95% Rubbers— Firestone Goodrich Jooaye
US R 39%, Us Rubber pid. 94%
Miscellaneous
Allis Chalmers .. 70%
Underwood B.... Foods—
Beatrice prieam'y 25%; Borden .. 28%
aSHSEERRERIREENIS
pd RFR aa
sugNes RE
NUN Ww ro
No» »o
33ST Bran Fae
FREFRR 35 FRRBRET
5 Bus
8 L
3 Od
pHE8E
we
8 385240
a.
aa
#2
!
oo
x
et oa
SIREN ABIS aan LL Br
NER FE
a g2gtasai8sss
Rad &
in ‘$1.75. Sreson_ x
1 Ep ny Hudson Power © s Li +1 5%: Mueller Brass
[3323 WF
a 823 =a
aS FER
¥
WEF
wes Smo
- HE
09 ada ¢ 00
Sells » fo =~
Joh [LENSER
EN 2
FRR
232889 paced ag oysuapiaBule
U S Ind Alcohol. Drugs— Brstal 1d Myerss-. : vent vers 184 Lenn & Fink ... 21% Sterling Prod ... 78 Un Drug (new Zonite od
Fisansial--
Real FI
tt 23D bb -3 ned
andSas =»
FEES FEFEESS
Li
. 4 . 14 vere 99 it .. 73% Tr. 83
> Gn WEES
- x} FN — Fad
..114 Transamerica .. 15% Building— Am Radiator ..23% Gen Asphalt ... 27% Holland Furnace 44 Int Cemen 58 Johns Manville .140 Libby Owens Gis 33% Otis Elev 35% ae maldr
Col Pa) Peet. .
Rs Bed . Textiles— Amer Woolen ...
Ch oe Sis (By Atkins, Hamill & Gates)
Allied Products Asbestos Manufacturing . Associate Investors Bastian Blessing
ru tr Brother . 14 Central Tilinois PR Service. . ou
Cities Servic Commonwealth Edison Gord
Great. Lakes Dredge...... Jarvis Prox Katz REE "Printing Lion Oil
west Bank c Ser rs North Ill NP.. Louis Stockyards 3chwitzer-C undsirand ‘Produ
New York Curb
(By Atkins, Hamill & Gates)
Noo! Aluminum Co of America :... American Cynamid “B” Am Gas and | Elecitle
Am Super Arkansas eral Gas a Atlas Cor Brown Forema Bower Roller Bearing Bessem!
Electric Bond rp Bie 111130
ber Ford Moors Sandy ian’ Gulf Oil, : Humble oil i Refining ( Imperial oe juternational Vitamin .....
Pan-American Airways ressnesd Penroad Corp 5 v Pierce Governor ........ Spencer Stores ... Root Petroleum 1 Lock
Lilo ubize FW Coach o
Moicy andl Exchange
INDIANAPOLIS ‘STATEMENT
‘TREASURY STATEMENT (By United Press) . WASHINGTON, Nov. 6.—Governnent expenses and receip ts for the current fiscal year to Nov. 4 s Ree compared with a year
: Last Year
toms. .
re vette |
(Quotat dons below, subject, to chang are average Ww e prices bel to: er he local commission
© Florida" Atocadon. 106 11s. 3s:
1 1 by I5dss. I Da: ob
.50. No. 1 New ork Ei by Bor 3 No. 1 Grimes mes 304" inches ip. hs up, 1s 50, fares 12s, 20c; Persian $2. Gra
1b A Tales. $1 a £ ec Cc. Sitio} 25-1b. San:
84s-1132s, ——
Exempt
2%
MARION COUNTY, INDI/
County Welfare Bonds 2x from all Federal, State, and Local Taxes {except lnheriiates and 1
‘Com (900-1100) jo
Good een “| Common and Medlin. « sunrr1s
Good nd Shojee
es |
U Virginia Jonathan, iain | 3 Bale, WH
15 Cents Off; Vealers Are Weak.
Heavy supplies sent the hog matket lower today at hi Haina polis Union Stockyards and at. the close weights of 160 pounds and up were 10 cents lower ‘and light: lightweights were 15 cents off. Sows were 15 to. 25 cents lower, bringing $8.50 to ‘$9.25. Top price on hogs was for the 180 to 300- pound class at $9.50 to $9.70. Receipts totaled Weights between 300 ‘and 400 pounds sold for $9.30 to $9.60; 160 to 180-pounders were $9.25 to $9.60; 150 to 160 pounds, $9 to $9.55; 130. 10 150 pounds; $8.50 to $9.25, and the 100 to 130-pound weights were $8 to $8.55. On receipts of 1000 cattle and 700 calves the cattle market was gener-
Jally steady on all killing classes.
The market on low grade heifers was dull and mostly 25 cents lower. Beef cows of value to sell brought $4.25 to $4.75, but the market was draggy. The practical steer top was $9.75 and odd heads upward to $10." A few heifers sold for $9.75. Vealers were weak to 50 cents low-
ing for $10 to $10.50. Cutter cows sold for $3.25 to $4 and weighty sausage bulls were quoted to $5.75.
Lambs were steady to 25 cents lower with the bulk of the “better grades at $9 .to $9.25, top, $9.50. Slaughter sheep were steady with fas ewes bringing $225 to $2.75, Pp, $3.
HOGS Receipts,
Nov. 2. 3. 4. 5. 6. Light Ligh (140-1
Lightwel
coves ©83
33388 33°
-
wo ) Goo and
Bikes 3
‘Medium Welghie™ (200-220) Good and 2 0-250) Good and Hesvywel hts—
choice. choice.
on So
choice. .
© VO VO VOB nN SoS Ww 33s 33 3 » oN a3 a= S388 33 33 &5a8s 8%
99 9930 9° 0° SPS e® S=3
Po BHO OO VO vo ©
29% mmmo
83 33
1500-300). Of
ed ee
Bodo Ore aIDO
Shgiioh 509398 82 Babs © D9 baba BIRO bY
ai
Co (1100-1300) G
Fe, VONBOMIPONIAVD 8 3
- Ghassan Srwestan
on 386 S999999
00 00 ¢ 333 38 WON
Ppa fd et
M (1300-1500) Go!
©
en bo Enaadd ovouwm
(500-750) So d
Common, medium. 4. Good and choice . Common, medium. 4
(750-900)
Low cutter and cutter. . Bulls, goo Cutter com. and med. hulk... Vealers
—Receipts, 700—
ey
ano ET)
Calves (250-500) Good and choice. -i3 S Feeder der and St medium Cagti ocke (500-800) Sood ang choice '$ (800-1050) Good and hs m. and medi ium. Heifers—
and choice Common and medium ......
weve gu Ltn ds ai
Good Common and mediom ? SHEEP AND LAMBS —Receipts, 2000—
aa ss 83 03
93 99 999 09
8g
aon hens 2% 3333
28
4 3.
(90-170) Good and choice . 2. Com. and medium.
(Sheep and. lamb heep stations o °
: Koy United Press) CAGO. 6. — Hogs — Receipts, 18.000. directs: , &C= tive, tally gos, Sno higher gts: marke rs average; 2
p “calves, 1 x ALLL, = HEE | s heifss very
ki aarek-end being Yor meaty
Fil LOWER
Quotations Range Range Down to | Year ae
‘(By Indianapolis Bond and Share Corp.)
er the bulk of good and choice sell- |
28g
Aron heavies scar
: for ne
Seer venly ing nn dow and’
r
(Reprinted From. Times Yesterday) DAILY INDEX i (1926 Average Eqygls 100)
20 10d. Rails 99.2
(Copyright, 1936, by Standard Statistics)
U. S. GOVERNMENT BONDS (By Abbott, Proetor & Paine)
Treasuys SCIBET-82 vcaaviiiniannns © 1944-54
ssessscsnsssne
3
tesressensnsee
CE Sotho ik
“SERRE
1300030005 C0 Loa Cato co cd tat)
sesesnccsssanene
1955-60 sebetesenessanes 1
Load Securities
® ons
The following quotations do not represent actual bids or offerings, but merely indicate the approximate market level based on buying and selling inquiries cr recent transactions. BONDS Ask oH «++103 104% ors 105 w 104 Inc 5s '67
106 7
Co'5s 57 ,. Co 3%s 66 .. STOCKS
Cent Ind Pwr pfd 7 Home LL & Tl *Hook
Ind & ons Elec Co pt dis ..1 Co 5 Sai
Sou Terre Haute ‘Elec Co Union Title Co *E-Dividend
. Dividends Declared
Dividend rates are given i in dollars 3d cents unless stated ot Boo
e Per’'d iy Am Fork & Hoe. . Ys Dec. D Am Thread pf.. 123 Atlas Powder ... .2
Bristol-Myers
sa gan. ext Dec
bea bet DD —— Ber
Consol Paper. . .. 0 : ctaphone Crp. Bie & Walker... Kelvinat gan p. il Busy Fie Flour : s ts Brew p ... 1. Nov. Reliable Stores 8 init Dec. 8 O Calif .05 ext Dec. 25 Q Dec. 05 .. Dec.
DI ps
Sunray Oil Un Wall Paper
> P Vogt. Mfg
Ir
venlers 258 or more lower at. $9 down;
very few Eheon Be ceipts. 7000; 1300 directs: fat lambs yer els carly gales around steady; others an or other classes little changed; bulk choice Prades. lambs sold early, $9.50 down: later 35 a under; day's extreme rad to small killers; best comebacks, as’ Co mostly; bulk slaughter ewes, $3.85
market
god of ig ¢ lower: " 3 “25¢ c Tower *%. ia
2. 50-05 a-%% 30@ 5 %0. 175:180 ibs 9.30; 150-170 Ibs. pg 810; Joo:
7.50 rn bas m0: Caren '$9.50 3 ove
( By Times Special)
LOUISVILLE ov. 6.—Cattle—Receipts, S00. jRenerally steady market all classes
. previous 5c or _ advance; few ight butcher steers an dhefier and un load Strangweight steers, $7.65 di to erous sales plain sorts around $5@6: lo¥ cutter_and cutter cows, largely $3@4. Taives—Raceinis, do, RE ding 100 sto stock : vealers ste fat fairly active; top $10.50; better grades Targel¥, $9@10. 100. 1 ans 158 n lower
Hogs—Receipts, direc 15¢ all weights: SOWS ti sli ely lower; bulk better grades 200 lbs. and up, $9.50%29.60; rce; top early $9.60; ood 3 3. Xe. $9.40; few- Sons. $7.15@8. celts. 200; fat lambs gbening steady with week's advance; medium to grades predominating at $8. soas. 75; Shoice ily quotable. to $9: rece! ts ine clude Some, breeding ewes, mostly atives xt week's trade.
934; calves, Shipments 78; hogs,
Receipts Thursday—Cattle
168; hogs Thursday Cattle, is calves,
301; i Shetp, none. -
|g
aa
i
Big: and Lom” - Stocks
415 LEMCKE BLDG.
ToD
Lez]
Sy the
EEE
Arm & Co_(Del) 4s, 55..
v. 20 | Western Onion 5s
TTT
Home Owners Loan Corn.
Wasaavasaseveses 1
Retin 1083 {J Federal Farm Mortgage Corp. 158
eqsessesasaacenaaes 108.1 104.10 102.2¢
serve sssena
ey
sees 104.2
A ? Shas I
minimis
Close Alleg Corp 5s '44 resins vrai Alleg Corp 58 "#9 ...viasrease 98a Alleg Corp 58 "50 .... ceive 93% Am Prgn Pow 5s 2030 ...... 75% Am Tel & Tel Sts "43 ......:112% Am Tel & Tel 58 '65..........110%
Bi Four 4%8 77 ..cicieeeess Four 5s ’63 aa orado & So gles, "80. . Chi & West Ind 4s '52 Chi & Nor West 43s 9 Container So 6s ’46.. Con Gas 4%s ’'51 Chesa Corp 58 "47 ......... «..176 Del: & Huds 4s '43.. k 5s '38
Grt Northern ‘G’ 4s Grt Northern ‘H’ 4s 48 Grt Nonthera 4158 11
Y Cent 8s 2013 N Y Cent 4%s 2013 Joid) N Y Cent oony 6s ‘44 .
2047 New Orleans Jem 45°55 ©... 99 gtis Stee] Ss 41
Porting & a 414s 60 ortlan en : Para Publix 6 8 P P &
ase . 947 Mi
sressescsscanse eevesss 8
99 cecrsessenee 108% .107
Cc "wt rhird Ave a5 55 '6 Onion Pacific 4s, fr [Tnited Drug J 1 Rubber 5s NH & > Hart as ‘87 Pn Bros 6
Youngstown S & T 4s Younstown 8 & T 3's Bt
FOREIGN
Argentine A 6s 5). . Australia 4128 '56°
A City 5%s '61 ... Tokvo Clty ma, gs ‘Gl
LOCAL CASH MARKET City grain elevators are paying $1.08 for No. 1 red wheat. Ofher ‘grades on their mer Cash corn new No. 3 yellow, 91c; Oats, 36c. Hay—No. 1 timothy, $15.50@16;No. 1 clover, [email protected]; No. 1 alfalfa, first cutting, [email protected]; sec ond cutting [email protected].
seseisconvese
Chih {etiory TepoTiI ne nded. Oct. + gain represents a new all-time high tecord, i" was re- .
i
RESERVES SEEN © POSSIBLE UNDER CORPORATE TAX
Investment Head Says Many Devices Exist to Keep Funds Intact.
Times Special NEW HAVEN, Nov. 6.—Corpora= tions can still set up ‘“rainy-day ree serves” under the corporate surplus tax by capitalizing any desired pore tion of their earnings, either by paying taxable stock dividends or by &
% number of other readily available
devices, it is pointed out in the November issue of the Yale Law Journal, released today. The article, written by Benjamin Graham, lecturer in finance at CoJlumbia University and president of the Graham-Newman Investment Corp., says that since the act should work no fundamental change in corporate fiscal policies, the position of bondholders should not be impaired. The author anticipates that the law will have a healthful effect on stockholder-management relations, since it should curtail numerous advantages frequently gained by ine siders through manipulating divie dend policies, and since the advante age of retaining earnings. rather than selling new stock accrues more to the Janagement than to the stockholders.
Disadvantage Nofed
According to the writer, the statute's iy objectionable features are not in the principle of the tax,
/
*|but in numerous unfair details of
application. Mr. Graham says one of these une fair details rest in the fact that the act places all stockholders at a great tax disadvantage as compared with partners. An ironical aspect of! the provision which effects this result, he continues, is that it was absent ° in the House bill as originally drawn
*|and was only inserted after business
Jeaders, inveighing against the act, convinced Congress that the desired tax yield could only be realized by feialning the time-tried corporation
Thus, the author says, “business
452 | seems to have talked itself into a
higher tax bill.” : Chicago Grain Futures
(By James E. Bennett & Co.)
11:00 . High, Low. A.M. Grose:
1.15 1.13 5 97% 92 80
42 42 85a Ab 1.35% 1:24 1.26% 1.25
Apne
May 1.267 a YAsked:’ b Bid,
BUSINESS EDUCATION
Strong = Accounting, Bookkeepingy Stenographic and Secretarial courses. Day! and gyenin Sessions. Lincoln 83317.
CENTRAL Business College
Architects and Builders Building Pennsylvania & Vermont Sts., Indpls.
»
NOTICE OF REDEMPTION To the Holders of = . Indianapolis Water Company
First and Refunding Mortgage Gold Bonds, 4%% due January 1, 1940.
Notice fn hereby given ven that Indianapolis Water. A hpany. under and by virtue of the s and
AD. T310, an and the 1 Fh
the said. Bonds to said re are as follows: :
is 8 premium
nN - ©
100 1250 108 1263 1574 1110 1260 1582
S58 3 3 oy 333
i 3398 £588 si i
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ption date. The numbers
008 1249 1571 4 os 1928 2101 3344 2507 5103
1572 1749 1 2192 2345 103 3259 1573 1750 1930 2193 2348 2508 5 5107 5278 821 5 maa 1931 2194 2347 2510 Mn 5279 3638 5704 6021 8129 2195 4 5280 5629 5705
BRoCEeesas ng naan SERRE EL ERE ORERRRRL RANE RRR
the same, made by said Com to bearing date the ray of Jan suiary eS aie as 4,191 th in:
to said M:
aration irst and Ref
Gold Bonds, 4 % doe ia ays her a mand of anuary, A.D. 1937, by Sage principal x J i 49% of such aces with all accrued i Retr oy 5
30 called for roam rion
2 LL Biol 18 8130 2508 5104 5 8275 56 3 8019 6
2351 2511
1737 2196 2352 25 788 1834 2197 2383 23 2198 2354 251
3 i uy 8a a
EE 8 8 :
328
BRINN gaingnasey 83338828¢ goa 22283
g 2as Eekpne
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Quanauanaan 2
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BEgesEsats 22
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