Indianapolis Times, Indianapolis, Marion County, 17 November 1937 — Page 19

WEDNESDAY, NOV. 17, 19387

MARKET MOVES IN IRREGULAR TREND AS VOLUME EASES

Cotton Futures Gain, Three to Four Points.

NEW YORK, Nov (U. | P.).—Stocks moved uncer tainly today in dull trading. The market opened lower, eased further and then rallied. Shortly before noon prices drifted down again. Cotton futures gained 3 to 4 points

Steel shares met good support for a time, U, S. Steel rose to 58%, up 1x from the previous close and 2 from the early low. Later it eased | to 571%. Chrysler drifted down after rallying from 64'; to 66%, up 13%. General Motors lost a fractional rise. Rails drifted lower with losses of a point in Union Pacific and Atchison. Copners were steady. U ing was firm. Utilities were mixed. Aviations, some oils, mercantile issues and electrical equipments showed small gains. Lone Star Cement gained a point while Johns Manville lost 2

Today's Business At a Glance

CORPORATION NEWS

Chesapeake & Ohio Railway Co. first 10 months net income, $29,105 - 221, equal to $3.73 a common share, vs. $34369.732, or $449 year ago. October net, $4,185,569 vs. $5,579,188 year ago, Detroit Edison Co, 12 months | ended Oct. 31 consolidated net income, $10,656837, equal to $3.38 a | share, vs. $11.194521, or $8380 pre- | vious 12 months Liquid Carbonic Corp. fiscal year | ended Sept. 30 consolidated net in- | come, $1655866, equal to $2.36 a | share, vs. $1,106,823, or $1.58 on same basis previous fiscal year. Pennsylvania Glass Sand Corp. | first nine months net income | $580,476 equal to $138 a common | share vs. $347.782 or 66 cents year) ago; September quarter indicated | net $180,155 or 42 cents a com-| mon share vs. $225,057 or 356 vents | previous quarter and $156,617 or 35 | cents year ago. 193%,

by Unit ed Press)

INDEX |

(Copyright

DAILY PRIC E NEW YORK, Nov, 17 (U, P).=| Dun & Bradstreet's daily weighted | price index of 30 basic commodities, | compiled for the United Press (19301932 average 100): Yesterday Week ago Month ago YORE BBO +vvavaves 1937 high (April 5)... 1837 low (Nov. J5)

LOC AL 1 SSUES

Indianapolis Bond & Share Corp.)

vay 118.75 . 120.11 «12708 132.81 |

(B)

The following quotations do nat vepresent actual bids or offerings bat merely | indicate the approximate market level | based on buving and selling inquries or recent transactions BONDS

H) dls 8) t W

Citz nd AL { ) H | & 55 3% 105

Tel Ft H Tel e Tel Ft W & 43. N Ind Asso Tel 5's 65 . Indiana Tel Co “5% 60 Ind Railway Ine 5s 67 ! Interstate Tel & Tel H's 54. 8Y Indpls Water Ca 3's 68 Kokomo Water Works 5s 58 Morris S&10 Stores 5s 50 Muncie Water Works 5s 85 Noblesville H D & P 6los 47 Ohio Tel Serv 8s 47 ... “ Pub Tel 5les 55 Richmond W W 5g 57 RVevymour Water Co 5s 4% T H Trae & L 5s 44 Vay T BH Water Works 8s 58 . .. T H Water Works 6s 49 Trac Term Co 38s 57 . STOCKS Belt RR ®t a com Belt RR Si Yds pid Cent Ind Pwr 7% pid Home T&T Ft W Hook Drug Ine com . Ind & Mich B 77% Ind Gen Serv Co ‘a Ind Hydro Elee 7% pfd.... Indpis Gas Co com . Indpls Pwr & Lt pid 67% Indpls Pwr & Lt pid 8': Tndpls Water Co nid Lincoln Natl Life Tns Co. com P R Mallory com N Inc Pub Serv Co pfa 56% N Ind Pub Ser: pfd 87% va N Ind Pub Serv Co pfd T7%.. Pub Serv of Ind pid 67% Pub Serv of Ind 7% Progress Laundry Co com 8% Smith Alsop PV pfd Smith Alsop P&V com Terre Haute Eles Co 87% Union Title Co com Van Camp Milk Co pfd Van Camp Milk Co com

(By M. I, Crist & Co.) Investing corp 23 59

105%

1021 100 aR

wa 38 wa 103% 101 104% 101 .. 100 60

», »

Market ut. 25.00

CHICAGO PRODUCE

Market, unsettled Receipty, 4558 Fresh graded frsts, carlots, 28'ac. Jess than carlots, 26's¢: extra firsts, ears lots, 28'cc: lesg than carlots, 28ise: eure rent receipts, 24'ie; storage checks, 16¢ fresh dirties, 21¢. storage dirties, 18¢, fresh ehecks, 18¢; refrigerator extras, 183%:¢: refrigerator standards, 18'¢. res frigerator firsts, 18¢ Butter--Market steady Recel BREN tubs, Extras 92 score), 3%e. ex H firsts (90-911; score), 385% @m36e: firsts, 336 de; seconds, 29@31':¢: specials 3711p 38e standards, 35':c: centralized (80 score), 34140: centralized (88 score), Me. Poultrv—-Market, steady to firm ReCeipte, 41 trucks. Geese, 1%¢: ducks, 18's spring chickens, 201, 930; hens, 1% @2lc; roosters, 14@15¢: broilers. 14miSe: turkevs, 17@ 280: leshory hens, 15%se, Cheese-—-Twins, w10%i0: daisies, 10% 19120; longhorns, 19%, 18" be Potatoes-—-Supplies, moderate: demand ood, market, strong, rhe Russet Bur anks, £1.4061.60; LR 2 061.30; Colorado Red MeChures ARE North Dakota Cobblers, $1101.15: North DaFarly Ohios, $1.10: Minnesota Cab- . [email protected]: Minnesota Bliss Ton LIVES: 1.15; iMnnesota Early Ohios, $1 Michigan usset Rurals, $1.15

Arrivals, 43; on track, 220. shipments,

U. S. STATEMENT

WASHINGTON, Nov, 17 (U, P).-—QGov-ernment expenses and receipts for the current fiscal year through Nov, 15, compared with a Aen Rk:

s Yea oy Ye 82 868. S80. wl. 0 $2,

Expenses > 2. 168 144.4 $02, 8 3

Receipts

Customs nae. Gold INDIANAPOLIS ~ ¥ ARING HOUSE

gloating . 3 200.000 Debits . ,088,000

INDIANA LAW SCHOOL

(Of Indiarwpolis)

ow He tt Bivistons

fat

Tp eX

lens |

S. Smelt- |

| choice

Bid Asked

106'% |

| INR sSO0Ws

. | on

1% |

Porker Prices

Remain Steady In Local Yards

Hog prices remained steady on all weights of barrows and gilts despite further weakness in other key | | centers, according to the Bureau of

Agricultural Economics. An extreme |

top of $895 was paid for underweights. Practical top was $8.90 on weights between 140 and 160 pounds.

Packing sows were unchanged to | |g

bulk from $7.75 to $8.25. Cattle receipts dropped off to the | smallest Wednesday volume of the | year following the recent slump in

values. was not

Vealer prices remained steady, good to choice offering cashed from $11 to $11.50, as common and medium Kinds sold from $7 to $10.

Expected competition from the

The action on steer cattle | improved. Killing classes | sold more actively and fully steady. |

wi ly High Low

AlleeORE] $30 w 15 Allied Mills ... 1 13% Allied Stores .. 10% RE pr vo Ch Am Car & F . 22 2 Com Ale .. CTF Pa SE .

Pwr & “it

Net Last Crane

[+++

Roll Mill ve Seating

Smelt . Stl Fdies .. 26 T,1 Tab B ....

FIFE ETE

Am ne Anaconda { Armour TH ....

Atl Re ning wy Atlas Corp ....

Balt & Dhio .. | Balt & O pf .. | Barber Co ..... | Barnsdall Beth Steel - oiling Air .... Borden o Org - ~Warner udd Mig ullard “Ny | Burlinaton M..

Sa Packing oN Pacific Y

Cn PR ERE ertain-teed

ap pf. | hiDIeP 6 pf.

oh DEN fo, Col Carbon

Cong- “a Cons Raison "a Cont Can . 45 Crown Cork ... 3 Crown Zeller . 3 Crucible St ... 32

=1 Curtiss-Wry aaa

poultry market caused lamb prices |

to drop 50 to 75 cents. Good to

native

fed-Westerns brought $9.75. Common to medium natives bulked from 36 to $8.50. Slaughter ewes were | unchanged at $2 to $3.25.

To $9.00 0.25 8.15 9.15

Recelbss |

12 13 15, 0 1 0 1 20 Light Lights 1140-160) Good and

choice Medium ..

| Lightweights—

(160-180) Good and choice Medium (180-200) Good and Tedium (200-220) Good and 1220-250) Good ard Heavyweights 1230-200) Good

3 choice. . 83 : 1

0 | 65 |

choice . . choice |

choice... 1290-350) Good choice. . | Packing Sows— 5-350) Good 1350- 425) Good (425-550) Good . (275-550) Medium Slaughter Pigs-(100-140) Good and Choice. Medium N

CATTLE — Receipts, 700 -

Choice Good Medium Common Choice Good Medium Common 11100-1300)

35 00 5 5 (550-900)

1900-1100)

plain) .

(1300-1500)

Heifers Choice coon Common Good and choice Common, medium

Cows

1530-750)

(750-800)

Good .. “a Common, medium Low cutter and cutter Bulls Good cutter,

(beef) . common and medium

Vealers Receipts, Good and choice |

500 —

% | Medium Cull and medium

Calves

Good and choice Common, medium

Feeder and Stocker Cattle Steers

1250-500)

(500-800) on and choice mmon., medium 1800-1050) Good and choice ommon, medium

HO OU OPP

| Heifers= Good and choice AY Common and medium Cows= Good Common and medium SHEEP AND LAMBS

Receipts, 1500

“Tal TD -r0s

— a

Lambg= Choice Good. Medium Common Shorn Ewes 190-175) Good and choice common, medium. CHICAGO, Nov, 17 u. PP) Hogs . ceipts, 24,000, including 9500 directs: mars ket around 10 cents lower; top, $8.60; 150250 Ibs, $8458.55; 260-820 lbs, in limited Subplity Mostly $8 30G 8.45, good pack= 106 Cattle— Receipts, 7000: calves, 1200; gen- | eral trade a little more active: good to | choice steers and yearlings strong to shade higher; shippers and order buyers showsNg more interest: several loads, $126 13.50; top light steers. $14.50: no prime offerings common and medium grades Si ong local account: cows steady, bulls lower at $8.75; ‘steady 11

Sheep- Receipts, D000, | reels; market, slow on | 50 cents and more lower; oa to choice native and fed comeback lambs, $069.2 { choice held $9.50 upward; sheep steady: | slaughter ewes, [email protected]; feeding lambs scarce,

LAFAY

here,

vealers al oiugding 1200 a. fat mbs, 25 to

BETTE, Nov

$8.50 8.75: troughs, $7.75 down;

calves, $10.50 11: lambs, £9.40

15 (0,

Ibs,

WAYNE, Nov P.) , steady: 140. 160 $8.55; x. 88.45. 180-200 Ibs. $8.35: 200-9 8.35. 208 230 ha. A815, 280. 375 Ibs. 0 ibs, 87.085. 300-350 Dy TSAR. $8.25, 100-120 b=. $8, oughs, 25, stags, had calves, $11; lambs, $0.50

BANK STOCKS

ank of Manhattan ankers Trust | Bank of

| Brookéy C RY Chase Chemical

Commercial Contin ntal .

Manover

| te Viva First National panranty aa Irving chi National City ew ublie Title Guarantee

FOREIGN EXCHANGE

NEW YORK, Nov, 17 (U, P,) = foreign exchange higher. Opening

Rates in 501%

‘a 034 Canada (dollar) .. 1.00 5 84 France (franc) 03405 Italy (lire) eve 0827 Belgium (belga) . R Germany (mark) ... 408 Switzerland (franc) Holland (guilder) Spain (peseta) Sweden tkiona) Norway (krone Denmark Xkrone) Japan (Yen) o.oo 022

os ange England (pound) ) \ England tho. day b %% rate) 1.00%

1 000% '

Reasonable Rental

Security Trust Oo. 130 E. Washington

Federal Deposits surance Corp,

lambs cashed from |! [ $9.25 to $9.75, mostly $9.50. A load of

00 | Flintkote

+ 10.500 14, 00 |

“ = ¥, ome Mines ... | Douglas Air ...

| East Kodak ... Eitingon Sch .. | Elec Auto-L, ... Elec Bon! y Bet A & bt LE 1 Paso _Nat dg Bare Prod ...

| Fed Wat 8 A .. 1

oo | Gen Elee ..

| Gen Motors . Gillette 8 R .. | Gimbel Bros Goodrich “va Goodrich pf .... ? Goodyear . 2 Graham-Paige | Gt North pf Gt West Sug Grevhound Cp...

3% 2% Ti

| tn Central . Ingersoll Rand | Int Harvester Int N Marine AT T Foreign iat Micke] & P | int P & : P pl... {at T * T an

Kennecott

Keystone Sti,

Marshali Fd .. Martin Gl MeCrory MeTntyre Pore.

| Neh Keely +. 12 | Nat Bis pf Cash Reg... 19 airy “a Distillers .. Tamrum Va Lens d PA 1 ad np sup a t Tea w “

Am Ava... Pacific ....

ami Oil mnibus .. tis Elev

T% 13 12% 13% ' M

N IN

Li Mille 1304 ackard

arami Piet .. ata Ple 2 pf.

| Union Carb ... 11

| Dep ins A BR

DOW-JONES STOCK AVERAGES 80 INDUSTRIALS =1. 46.00 +330 —0.18 C1000: Yow, 1926, 184.90; low, 143.11, 20 RAILROADS

High,

Yesterday Week ago Month ARO ......vvevss Wear BRED... aia: S68 High, 1937, 64.98; Yow, 20.09, High, 1936, 50.89; low, 40.66. 20 UTILITIES Yesterday Week argo Month ago Year AR0 ..... ui: iniiiinss so SHY High, 193%, 37.54: low, 19.65. High, 1036, 36.08: low, 28.63, 70 STOCKS Yesterday Week ago Month ago Year ago High, 193%, High, 19386,

6 Tow, 41.52.

Tow, 51.20,

Penn D Ren Vas oie} helps Bo Phila Riad ©

rity Bak Va

Reubie BH Reyn Tob B ... 46

Schult os ears Roe gee 1 ' 1 hell on On i i ~Vae .. outh | ne Sout Dah R¥ith Sperry-Corp ... Spiegel Inc Std C Tob .... Std Oil nd Std Oil N J

oh .. Studebaker

Talcott J (As corp + Tex Gulf rod. Thomp Star ar ansamerIca Tri-Cont Traux Tra

894

Un Pacific .. Cp 10% ah

Un Aireraft United Corp U 8 Freight U

10's

Westing nl

Yellow Tr Va Young Sheet ..

INVESTING COS Bid Ask Bid A:zk

12.13 12.90| Ins rp H84 6284 Affil_ Fd 4 3 4, 8 Invest Bank © BHR Am Bus 3.650

Bos Cp 12.12 Bkrs NI In 238 in hy a C as Ind 3.53 Bos Fd In 15.74

Proad St

Adm Fds

IHBS

Equity Fidelity Fiscal Fund Ine. Bk 8tk Ins Stk

T™ A ! Abbe

a8 Gen Cap 3.0 32.28" 1058 Gen Tn Tr 4.78 518 quar, me Group Recurities Rep Tr AB A 21 1.32i8el Am Th 0.35 89 Bel Inc 4.08 1.41/8ovgn Inv _ BR 1.24 Bp Trask 14.98 B53 8Btd Util 83 02 State Bt $9.00 : 05 Bup AA 2 oor 1.22 BR 1.18! 8pvsd New 2 : 80 Tr Bt In C 2.38 1.24 In D : 33 r 04 0 8.30 . 85 "RB fhe 18.73 Tr hy Bk I 1 mu Securities, Ltd, Tre 0d Bk Grp 122 138 URMILE Prt 88

Bam vv BS ON ee GD IT TY wr DED PA ND IT «ld wl fe DWI DO

Bteel

A Bd NA Mr 1953 3 10 1955 2,

fe 3.51 7.2 2 2

NG 1.03 04

build houses,

} More Taxes Will Be Imposed to Pay Pension Debt, Flynn Asserts

By JOHN T. FLYNN Times Special Writer WASHINGTON, Nov. 17.—-The moment having arrived for the production of an odd rabbit or two, at least two such beasts are being discussed. One, of course, is the inflationists’ plan to spend the gold profit. The other is the plan to use the money collected for old-age pensions to

This brings up the question of how much money there is from these old-age pensions and what has be-

5 feome of it.

Since Jan. 1 of this year the Treasury has collected $305.761.425 in old-age pension taxes, This comes from a tax of 1 per cent on every working person's pay envelope and a similar 1 per cent on his ems« ployer. It is to be presumed that the employer adds his 1 per cent to the price of his goods and collects it back from those to whom he sells. The whole thing, of course, is paid, as practically all taxes are paid in the end, by the great mass of those on the payrolls of the nation. This $305,000,000 collected by the Treasury belongs to the workers who are entitled to the old-age pension. Now what has the Treasury done with the money? First of all, you will be surprised to be told that only $450,200 has been paid out in old-age pensions. In other words, if the Government had taxed just enough to pay oldage pensions this year it would have imposed an almost infinitesimal tax. But it imposed enough to raize a large sum in order to build up a reserve. And to date, after paying ail pensions this year, the Treasury has for account of the old-age pension fund more than $365,000,000, Under the law this money must be invested in United States Gov-

ernment securities. That means in United States bonds. And this is what has been done. The Govern= ment issued a special series of 3 per cent bonds payable in 1041 and the entire amount has been invested in those bonds, Now this means that the United States has borrowed the money and is using it to pay its bills. The Old-Age Fund owns 3 per cent bonds and the Government has the money and has, presumably, spent it. Th short, the money ix gone. Nothing remains but a debt by the Government represented by a bond. If the Government should be called on now to use that money to build houses it would have to say that it hasn't got the mohey. It's spent, And the only way the Government can get it back is by imposing more taxes, In other words, the money was raised first by taxes on the working masses for their benefit. Then it was spent by the Government, Then if the Government wants to pay it back, the Government will have to impose more taxes on the working masses who pay most of the taxes any way you slice them,

Of course, there is another crep |

of dollars for old-age pensions coming along next year. Maybe that's the money the building construc

tion advocates have their eyes on. |

Security, rovide YOUR OWN PENSIO TIREMENT?

AN IMPORTANT MESSAGE TO PROPRIETORS IN INDIANAPOLIS If you own your own business, you are co-operating through Social toward a retirement fund for your employees, WHAT ABOUT YOU-YOURSELF? Roe Security leaves it to YOU to AVE YOU STARTED A BRFINATE PLAN FOR YOUR RE.

Assure YOURSELF of a Rom ortatie income at 80 or 85 through our RETIREMENT INCOME PLAN

Investigate today. Call Ta. 0788.

INDIANAPOLIS LIFE INSURANCE COMPANY

Over $104,100,000.00 in force. Fdward B. Raub—President

THE INDIANAPOLIS TIMES

N. Y. STOCKS

By United Press

2 | Plax

“| Yesterday

| Cities Bern

ETRE CT SN

PAGE 19

SELLING DROPS EARLY GAINS IN WHEAT FUTURES

Bearish Reaction Due to i Absence of Export . Demand. | CHICAGO, Nov, 17 (U. P.)—The| early upswing in wheat prices quick- | ly drew profit-taking and initial] gains were pared down slightly today on the Chicago Board of Trade. At the end of the first hour wheat | was 1% to 2 cents higher, corn was 1% to % cent higher, and oats were 1% to 4 cent higher. Argentine news has received considerable attention but export demand. which has not been as active as was expected, also attracted notice. Bearish reaction to the lack | of export business was principally responsible for the profit-taking | movement. Wheat receipts were 3 cars. Scattered speculative buying corn and purchases presumably for | export have held the market firm | at a slightly higher level, Some gelling of May futures by hedging |

in|

. interests acted as a brake on the up-

| turn. Receipts were 374 cars,

WAGON N WHEAT | City grain elevators are paying for No 2 red, 82¢; other grades on their merits | Gah corn. new No. 2 vellow, #le. Oats 27¢. | ARGENTINE BUENOS AIRES, Nov, futures opened highe: $1.00', up "se: February. ¥ Comm December, B84c., up. Sse; February, | f4c, up 'sc. Oats 8pot., 28'.¢, unchanged ovember, 81.34% up Ye; February, up Swe.

Liv FRPOOL

GRAIN 17 (U. P) Grain | Wheat - December 81.03%, up le

81.24%,

WHEAT Prev close 9 1 1.16!

ate + 1.16%

N. y. Bonds

By United Press BOND PRICE INDEXES

20 20 20 Inds. Rails Utils, Ri 30 83.5 1.3 3.2 5 Ri 6a 0.8 LY ma 108.1 nx nD 129 RAL 10.2 104.0 2.5 515 n2a Mx 100.4 1068.2 oo R15 183.5 « NA 6.1 103.9 LER 510 na ; Btandard Btatisties

a0 | Bonds ®L0 R11 5.1 100, m 190.5 | R2.:

1937,

| | | |

(U. P)

| Argentine 4s '72 Feb Balt & Ohio B58 068 F ....vu Certain-Teed B5':s Chic R Iz Ref 43 Chie R Is Conv 4! Irt 9s . Japan BHlos PRAIRIES 2 B80 Pac 4'u5 PAAR IIRNNLG : ! Bo Pac 4's PIII Youngstown A iiililiss A

Curb St Stocks

By United Press NEW YORK, Nov. 17 (U stocks opened irregular,

Alum Co Am Am G & BE

P.).= Curb |

Net Open Change 86! 1

El B & Lake Bh Niag Hp Technicolor { Un Gas Un Lt & PA a

FOOD PRICE

CHICAGQ, Nov, 17 (U. Pp) Michigan, Melntosh, #1a 1.40 tatoes Tennessee, bu, hampers, A0ces1 10 Carrots—TIllinois, bu, 35 40¢ Bpinach Illinois 00¢ qs 25 Tomatoes Cali FEIN, Jugs, B81.75%@2.°5 ‘auliflower Loh Island, crater ok 3a | 40 Peas California, hamper: 3 Celery | Michigan, Eauare crate "807 1756 Onions | (30=1b sacks) —TlHinvix veil Wa, Indiana vellows, Michigan vellgws Min- | nesota vellows, 310 Was hing! on Valen cian, $1.02 |

Apples 8weet Po

‘by Secretary of Agriculture

| of

| loved plantation. [leading the American Army in the | Revolutionary War,

| the wheat he shipped under his spe[cial brand to the

| clover and a variety of other crops. . | He took measures to stop gullying

vor | BR . neighbors got from theirs, He made |

| extent he foresaw the evolution that | would take place in agriculture nj | the next century and a half, we dc

| he himself [farm products in interstate and | | foreign

j distribution of many useful things

Don’t sneeze at Or gripe at Fore germs get

Just take this

Start building up strength With fresh milk as a basisw Throughout Winter's length You'll keep well and go places!

gives your system cold-fighting power!

Text of F. D. R. Farm Address

MOUNT VERNON, Va, Nov, 17 (U, P.).—The text of | the speech prepared by Presi- | dent Roosevelt and delivered

Wallace today in celebration of the THth anniversary of the founding of the Department Agriculture and of land grant colleges and universi-

ties follows: Today, here at Mount Vernon, we are paving tribute to George Wash- | ington—not as the general who won [the war for independence, not as | the statesman who welded the for- | mer Colonies into one strong hation, but as the outstanding farmer and farm leader of his time. When the call of duty came, Washington was glad to give himself for years on end to the service of his country; vet his heart turned always homeward toward his beWhile he was

he could seldom visit his home, But during the years he was President, he returned to it as often as he could from the capital at New York. Over a span of 40 | years, from 1759 until his death in 1799, the farm at Mount Vernon | [was the centér of his interest, | For him, farming was both a busi- | ness and a hobby. To farming as 3 business he brought the talents of a [great executive. To farming as al | hobby he brought the adventurous | mind of a pioneer,

DIVIDED INTO FIVE UNITS

His 8000-acre estate at Mount Vernon was divided into five separate units. His methods of manage= ment and his careful keeping of ac= counts are an inspiration to farmers of the present. He knew how to merchandise his products so as to

get a premium price—for example,

West Indies was rated as the best to be had.

But wore striking was the pioneering he did in the arts of hus- | bandry, He was not satisfied to do | things as they always had been | done, When he found that oene-crop | tobacco farming was wearing out his land, he ent down his output of tobacco from 35000 to 5000 pounts and replaced it with wheat, English

and erosion, He continually tried to | improve his strains of livestock and from his sheep got more than twice much wool per fleece as his

a tour through the Carolinas to exhibit one of his mules so as to pop- | wlarize the use of mules. He tried out a threshing machine invented in Seotland, He was constantly _— ideas by mail with others in this and foreign countries who were interested in better farming. To what |

But sold

not know, we do khow that |

some of his own |

commerce, We know that he was active in the building of canals that would connect the seahoard with the great regions to the West. He must have sensed that the development of transportation, together with more productive farmsing methods, would bring a rweeping change, He must have rensed that farm workers would be released to engage in the manufacture and

a cold

the grippe . .

a hold

hot tip:

DRINK 10 YOUR HEALTH!

MILK

| tries, | permanent disadvantage

and thus raise the standard of living for all. Sensing this, it was natural that he should urge Congress to create a hational board to promote the interests of agriculture. In his eighth annual message to Congress he said: “Tt will not be doubted that with reference either to individual or national welfare agriculture is of pri= mary importance, nations advance in population and other circumstances of maturity this truth becomes more apparent, and renders the cultivation of the =oil more and more an object of public patronage. Institutions for promot= ing it grow up, supported by the public purse; and to what object ean it be dedicated with greater pro=

In proportion as |

agriculture as the foundation of our national life, we can be sure that if he had lived today he would have acted boldly to keep agriculture from going down to ruin. We ean be sure that he would not have denied to agriculture advantages which Government has so freely granted to industry. All his actions indicate that he would have sups= ported farmers in programs of the type they have adopted. Just as he himself shifted from one=crop tos bacco production to a balanced type of farming in order to save his roll, it seems almost certain that he would have favored Government ac= tion to aid farmers as a group (6 bring their farming operations inte balance. And =o,

‘as tribute ts

priety?”

MATCHED BY JEFFERSON

George Washington's interest in| agriculture was matched in later vears by that of Thomas Jefferson. But not until 1839, when Congress appropriated $1000 for the Patent Office to use in the aid of agriculture, was Washington's proposal carried out. Then in the years that followed, as farmers generally felt the need for improving their methods of production, the movement spread. At last, under the

| leadership of Abraham Lincoln in

1882, more than a half century after George Washington's message, that movement came to fruition were passed by Congress establishing the United States Department

lof Agriculture and providing grants

of land to aid in establishing state colleges of agriculture. Now, this week, the 75th anniversary of the founding of these great institutions is being celebrated at the nation’s capital. George Washington's own words, which T have just quoted, show that he considered agricultural production even in his time to be much mare than a local matter. Yet many

| changes were destined to come that

he could not possibly foresee, He could not foresee that a protective tariff policy. adopted in the beginning to foster infant induswould put agriculture at a He could not foresee that mortgages on farm land would become an important part of a highly complex financial svete and would be closely linked to the life insurance policies of millions of people in cities and towns. He could not foresee that fixed charges such as taxes, inter est and freight rates would push thousands of farmers into bankruptey whenever the prices of farm commodities collapsed. He could not foresee that abundant production, instead of lifting the farmer's standard of living, would sometimes erigh the farmer under the weight | of an unmarketable surplus, He | could not foresee the develonment of the great corporations and labor unions, and how essential it would be for farmers to unite. He could not foresee that farm buying power would be esgential to keep oity fae- | tories running. He could not foresee

| the intricate web of economic ties extending across state bounds |

that, aries, would almost completely rubmerge the local phases of agricul tural production and make it more than ever a matter of vital national concern,

WOULD HAVE ACTED

Knowing what we do of George

Washington's belief ih a national

Government strong enough to cope

with the problems of his time. and | his perception of the importance of /

We Have

to increase rates,

run will allow rates now the rates have imposed increases in

It isa

and stay in business

Laws |

Talk About Money

It takes money to run a railroad, increased prices, wages and taxes it takes more money than before. That is why it is necessary

Increased rates are to this money question. Railroads live on their ability to create economies which in the long

shame that railroads have to unemployment because of these imposed increases in costs. However, a railroad is like an individual in that it must live within its income. It cannot spend more than it earns

The more money a railroad earns, the more it spends, and the spending puts men to work on the railroad and elsewhere,

oti

Wwe pay

. | George Washington, the first “mas=

| ter farmer,” let us resolve that we | will be worthy of his great example, Let us resolve that as a nation we | will not neglect the fertility of sur soil or the integrity of our farm homes. Let us resolve that, now and always, the great art of hus= bandry shall have its rightful place in our eeah life,

BLACK FOREST STARS COMING

Company of 40 Will Open Three-Day Stand at Fair Grounds,

The Black Forest International Ice Revie is to open a three-day stand Friday in the Fair Grounds Coliseum, The 40 skating stars who make up the show have been drawn from America and Europe, Featured is a Borealis 30 skating=dancing girls, The Revie carries ite own mobile fee=producing plant. The Coliseum | 18 undergoing alterations whieh include installation of a heating sys tem This is the Revue's first apolis appearance, It is to come | here from the Dallas Centennial Exposition, The company previouss ly appeared inh the Chicago Century of Progress BExposition, Pretty Melitta Brunner i= the headliner, and inh the supporting cast are speed, fAgure, danger and comic skaters,

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CRUDE OIL OUTPUT INCREASES IN WEEK

NEW YORK, Nov, 17 (wv P= Crude oil production ihereased ih | the week ended Nov. 13, while gaso- | tine stocks were reduced for the first time ih seven weeks, the American Petroleum Institute reported today, Crude output was estimated at 3. 541450 barrels daily, compared with 3,533,150 in the preceding week and 3,040,400 in the 1038 week. Gasoline in storage amounted te 87,035,000 barrels, against 67,271,000 week ago and 58,155,000 a vear ago, while stocks of gas and fuel ail rose to 121,012,000 barrels, from 120.025 - [000 in the previous week and 112s [318,000 in the corresponding 1038 week. The industry ran to stills, 3,335 = [000 bartels a day, against 3,325,000 | ih the preceding week and 2.917.000 in the 1938 week, while eracked | gasoline production averaged 780,000 barrels daily, compared with 765,000 in the previous week and 700,000 in I the 1938 week

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to be reduced. But right to be increased to meet costs,

had to add