Indianapolis Times, Indianapolis, Marion County, 16 February 1938 — Page 8

Yeading Steel: Shares|7 Hold 1 Point Advance.

- NEW YORK, Feb. 16 (U. P.) .—Stocks reacted fractions to more than a point after an irregularly higher opening today, but developed rallying tendencies around mid-ses-sion. Trading continued quiet, Stee] shares rebounded as much as a point from early lows, but held fractional losses. U. S. Steel sold at 52%, off % after reaching 52. Losses in rails also were scaled,

Atchison at 35 recovering half of an earlier point loss. American Telephone opened at 135%, reacted to 134 then came back to 13412, off -8 net. Motors improved with Chrysler off 3 to 53% after a 13 point loss. Copper shares, which were strong early but reacted to small losses, ~ came back to around previous closing levels. Such issues as Air Reduction, Allis Chalmers, American Locomotive, Du Point, International . Harvester, Johns Manville, Loew's, Montsanto Chemical, Philip Morris ‘ and Union Carbide were off a point and more each.

DOWNTURN CHECKED IN PIT GRAIN PRICES

Report of Moderate Export Trading Rallies Corn.

CHICAGO, Feb. 16 (U.'P.) —Com- _ mission house buying checked the early downturn in wheat prices today on the Chicago Board of Trade. At the end of the first hour wheat was unchanged to 5 cent lower, corn was sz to 14 cent lower and - oats were % cent ower. . Price movements were nervous during much of the session but buying on the part of commission houses served as a stabilizer. Rallying tendencies, however, were not particularly impressive. "A small business in North Americans was reported by exporters during the - morning, The reviving rains and snows of the southwest territory were the chief depressing factor as ‘much of the area was restored through the precipitation of the last Iwo days. Wheat Teceipts were 8

= rn futures= rallied from the . day's lows on reports of moderate export trade overnight. Further bids . under the market tended to offset country offerings of corn: on g toarrive basis. Receipts were 117 cars.

WAGON WHEAT

i gram Sevators are pay for No. 2 red. Sic her grades 4g iS merits. To cor, Si No. 2 yellow, 50c. ats,

FOREIGN EXCHANGE

NEW YORK. Feb. 18 (U. P.).— i exchange higher, ¢ Foreign

; gis No 1 es ange “8 England (pound)...$5.08% 00% 5 Y Eng. god ait rate) 5.03 - 00% a Canada | r) ... 1.00 5-64 --.00 1-64 £ a IFr {1} .0000% +.0002%, .00032 .0020 ~-.0003%2 -+,0008Y4 -+.000234 -+.0002%, 4.00021 d +.00%2 ( shilling) .. oe -+.0002 Qaeehosiovaki koruna) ....... .0352% +.000035 . Finiand (matkka). .0222% wen a “Greece (drachma) . a

DAILY PRICE INDEX

NEW YORK, Feb. 18 (U. P).— Dun & Bradstreet’s daily weighted index of 30 basic commodities, mpiled for the United Press (1930-

re : average 100): Yesterday .........co000.0.. 111.98 Ago Sess 0000000sv0ssase 114.11 alu. th Ago ®0ss ens s sess 115.96 - ear sess ce S000 ence 144,46

Ago . High (Jan. 10) ceeeeeee. 117.06

flay s ‘Business At a Glance

CORPORATION NEWS

Associated Gas & Electric : Co. week’ ended Feb. 11 electric output 84,576,131 kwh., off 6. 6 per cent from year ago. Chesapeake & Ohio Ry. Co. Jan. net operating income $2,044,459 vs. $2,307,949 year ago; surplus after charges $1,335,409 vs. $1,564,856. Cincinnati, New Orleans & Texas Pacific Ry. Co., 1937 preliminary net income $3,262,589, equal to $35 a common share vs. $3,331,340 or $35.77 in 1936. Detroit Edison Co. 12 months ended Jan. 31 consolidated net income $9,426,324, equal to $7.41 a share vs. $10,672,096 or” $8.39 previous 12 months. General Steel Castings Corp. 1937 profit before Federal income. taxes, 390, 752 vs. net loss $2,131 180 in

i Lakes Dredge & Dock Co. 1937 net income $1,148,153 vs. $622,476 in 1936

Gulf Coast Lines week ended Feb. 12; car loadings 3568 vs. 3297 previous week and 4307 year ago. International-Great Northern R. R. Co. week ‘ended Feb. 12, carloadings 1810 vs. 1997 previous week and 2223 year ago. Jewel Tea Co., 4 weeks ended Jan. 29, sales $1,824,210 vs. $1,686,081 year ago, up 8.2 per cent. McCall Corp. and subsidiaries, 1937 net profit $673,480 vs. $1,186,943 in 1936. Oklahoma Gas & Electric Co., 1937 preliminary net income $2,580,425 vs. $2,424,208 in 1936. Pacific Telephone ' & Telegraph Co. and principal subsidiaries 1937 net income $18,761,294, equal to $7.67 a common share vs. $20,240,020 or $8.49 in 1936. A. E. Staley Manufacturing Co. and subsidiaries, 1937 net loss $71,542° vs. net profit $1,460,568, equal to $26.44 a common share in 1936.

DIVIDENDS

Acme Steel Co. quarterly 50 cents on' common payable March 12 record March 1 vs. $1 in previous quarters, Chesapeake Corp. 75 cents payable April 2 record March 8 vs. like

payment Jan. 1.

Chesapeake & Ohio Ry. Co. regular quarterly 75 cents on common payable April 1 record March 8. General Baking Co. regular quarterly $2 on preferred payable April 1 record March 19. * ‘General Candy - Corp. . regular quarterly 25 cents on Class A payable March 2\ record March 10. Heyden Chemical Corp. regular quarterly 50 cents on common payable March 1 record Feb. 23. Mergenthaler Linotype Co. deferred action on dividend due at this time. In 1937 company paid four dividends of 50 cents. each.

CHICAGO PRODUCE

CHICAGO, Feb. 16 (U. —Eggs—Market, unsettled. Receipts, 710d cases. Freon graded firsts, cars, 17%c; less titan cars, 17%ec. Extra rots, SAIS. 18c; less than cars, 17%c. Checks, 15%c; Dirties, 16¢; current receipis, 17%ec. Butter—Market, steady. Receipts, 795,.459 gross lbs. Fresh graded firsts (bo-017 score), 28% @29c;. extras (92 score), 29%ac; firsts, 28@28'.2c; seconds, 26@ 370: specials, 30@30%c; standards, 29c; centralized (89 score), 28'%.c; centralized (88 score), 28c. Pouitry_ Market, steady. eipts, 30 trucks. Ducks, . 18@22¢; geese, 19c; hens, 18@19¢; spring chickens, RAM: "fryers. 21@23%c; broilers, 20@21c; leghorn hens, 15c; turkeys, 18@24c. . Cheese—Twins, 15% @15%¢; dasies, 15% @16¢c; longhorns, 15% @16c.

Potatoes—Supplies, liberal: demand, slow fair; ma e , dull to steady. Idaho Russet -Burbanks, $1. Colorado ed lures,: $1.35; Da Round

cC Sl $1. 06@1. 10; ay Russet Rurals,

deArrivals, 93; on track, 270; shipments, : 728. i

U. S. STATEMENT

aa t- LAA Toh 1 ae for or the ernment - expenses a current | pea year ag ugh Feb. 14, a and .84, ob 38 532. Ts $4 508. S08 007 ¢ 8 nses ,500,008, Receipts... 3.739,130,423.24 2,584,727,315. Gross def. 966,669,109.54 1,924,371,522.08 Net. def... 914,617.859.54 1,869,859.922.08 Cash bal.. 3,005,341,6568.58 1,625,261,408.00 Work. bi ,680,222.13 978,448,480.45 Pub. debt 37,587,171,017.72 34,553,844.897.90 Gold re 12,755,607,517.77 11,396.429,653.00 Customs. 1,231,328.26 ae 500,275.26 s Pur. otal Pur.

Inac. gold ... $10.515.86" $1.223.362.851:00

INDIANAPOLIS CLEARINGS Clearings

Debits FOOD PRICES

CHICAGO, Feb. Michigan McIntosh,

18 P. te. Vas. Fen Piste. ampers, @ 400

38 Low (Feb. 15 ......... 111.98

n acks) —! Valencias,

’

IN DIVIDENDS

TT 5

i Sg

Member Federal Home

And in Addition:

ou Save Also the Expense

$1.50; Minnesota Yellows. Or [email protected]

ents fully pay your loan

In the B

Loan Bank System

“Fletcher Avenue” Offers Borrowers ~ VARIABLE Interest Rates ON HOME LOANS

ST rates are now possible, depending location of home security offered.

NE Ww YORK ST 'OCKS 11 a : at cet ly fie £. Net | DOW-JONES STOCK AVERAGES High Low La High Low Last Change 30 INDUSTRIALS Sears’ Roebuck. 587 se% B8% ui: . n S H pt 58% 58% 5812 — 1 Air Reduc ..... 40% 49% 49% A $ Yesterday o...coecesacesssess 124.98 —~1.04 Shan’ On Oil". 14% 14% 14% — % Alaska Jun ... 12 13 13 — Wlywey app ...ieecececrsceses 125.00 —0.52 Skelly Oil 28% 28% 28% + Ya AUER G0%es "0 Ath Ala TR 110 | Month ag .ivivicreserrirs 13008 —1a4 |Smith-Or-T cis 1g 1043 18a I % Allis-Chal nik 43 43 ais + % | a BEO covcesssasvenvoenss 187.98 . —0.20 y=Vacuum i 15% 18 - 3 Can 83% . as% 83% 1 | VRE MEL Cl low. 118.49 South Ry of... 11% 11% it % ZL... Sy 3% 4 % | High, 1938, 134.35; low, 3 F . — Am Toe 0 20a abit a0 Tl igh, 1937) 104405 low, 11864 Sperry-Corp \.. 104 18% 104 + % upward Slant at Principal Am Metal ;.-;- 31% A -p ILROADS Std Brands ... 8 8 8... = Am : P- 4%, 4% 4% 4 20 RA os ; Le : Am Bad & 88. 134 4° 138 © flyers Noes soni os 84 Bt. gd alu gin wu) Trading Centers Aids Am Smel Fai SE By Dt PE Week ao, ceseer 28.13 +0.25| Std Oil NJ 1. 40% , 80% 8% L''% Fn: : Am T 35%, Ei 135% ..... | Month age ... ceria. 20.97 —1.00 gew-War ~via 2% 22 ahr i | City Prices. TP 3% 37h SMA. 1 1h | ear age L......coofiiii.s 58.00 10.36) Superior Of i: 3% 2% 3% .... Armour Ti ill "6 6 "6 I %| High, 1988, 32.33; low, 27.08. : ie Asso Dry Gd 8% sh 3 z 2 High, 1937, 64.46; low, 28.91, Texas Corp . an 4 i % An upward slant to the hog trade C 7 sabe a a : . oY Aviation Corp . 3% 3% 3% + %| 20 UTILITIES Tex Guit Prod’. a a a =a at nos}. JDrmeipal ! marketing = a Yesterday ...coceccececccscss 18.90 —0.10 Fox Pact Pr 13% 13% 13%... : .minals ped Bald Loco «t wi 9 9 9 4 Y%|Week BRO ...ceccessccesscces 18.86 —0.12 Transamerica. 10% 10% 10% —- “ fully steady == all weights of bart & Ohi 9% 9% "9% .... Month 80 ...cccceeneeecncss 20.71 —0.,07 | TYENS & | = J2irows a g and packing sows, HR i 3. 15 Tat wy 85.15 —oop| TH-Cons [...... 3% 3a Ia — B],ccording to the Bureau of Agrieth Bteel .... 55% 53% 83% . 1a) YeAr 8K® ......cee..ec.enns z py 3 Boeing Air i. 28%, 28% 38% I %| Hish. 1983, 21. 86: low, 18.25. Biien rn on ,, | cultural Economics. Borden: wiping 17% 11% 11% .... | Wish, 1987, 37.54: low, 19.65, Un Pacific .... 78% 18% 18% — 321i] - Indianapolis prices were in rela-Bklyn-M' T .... 16% 16% - 16% + ¥% 70 STOCKS Ba 2. En 283 Ba oF 2 tively high standing even at TuesCum. 7 . Yesterday «..ceecovecesescs.. 40.680 —0.28 | gn BF) Coal Dane Mar ae 1 day's decline, hence the failure to Callahan Zine:. 1% 1% 1% ..... | week BEG .vcoecesessaceesssv 40.39 —0.07|U S Rubber ... 20% 20% 2% Ti share in the general upturn today. Gangacti 1 MM LB Month are icin 234 ost \GREIRIRE Bl GI BA 3 ron remained at $9 for best. 160 Gerre' de asco’ 2 Ee Is i ema : —Wo to 180 pound butchers. Ches & Ohio 33 32% 32% — Us ’ h fi West Air Ske . .. 23% 23 23% eee Bulk of the good packing’ sows at Chry: ot oo B4Ys B4ly 54%, + | High, 1937, 60.67; low, 38.8-, estin seee 94 94 94 — a $6.60 to $7, with a ractical top of Cluett “peat plu 1 MA 2 ’ "Net | Wilson hot Ali Ma Mp2 $7.25 exceeded by fot a few Pad i . ; m—8 e ilson Co oe —_— g Colum aGs .... 7% Ta % .... High Low Last Change | Woolworth .... 42% 42 42% + %|on the butcher order at $7.50. SevCom Sowenss' |. 18¢ 1g fg TH Repubig SH ii Up BB oy, ys 5 | eral premiums of 5 to 10 cents on | Co To 80 in 2th atig -—'' Repub_Stl pt A 60% 607 670 — 1% Joon Sheet ::: 38 2 38% Hi I 7 strictly choice, uniform lots of hogs Cons Laundries’ ‘4a “ls 44 — i |Rem Tel. 3s Ma-ags od EA were paid more freely. Container ..... 14% 1473 147, —''3, Sm ; Hg Local quotations on all slaughter Coty nor I 1008 oe = {|schulte RB .... % % Bo... i N. Y. Bonds classes of cattle held the relatively Clown Cork |. 33% ‘333 93a = ipseabd Air LD HW WK +h . strong position which has been enrn Crk cupfxw 33% 32% 32% + % ’ By United Press joyed here recently, with prices fully ora Ehe mw INVESTING CO.’S ‘BOND PRICE INDEXES steady and even further strength on Curtiss-Wr .... fe 4 4. (Inv. Bankrs. Conf.. Inc.) 20 20 20 60 light heifers. 1 Dpsosimately ; = T ’ Adm Fd 11.52 12.26| 1 Bos Cp 13.38 14.87 Inds. Rails Utils. Bonds | 10a steers clear easily affer Dec BS. dye We Ae 4 BAIR, S84 AMIny Eds 2047 1998! yesterday ..... 80.9 660 920 %9.6|some hesitation caused by lower avison Chem.. 0% 94% 9% .... |*Am Bus 3271 361 7'CFB3 1334 1462 | Week ago ..... 80.1 647 91.7 788) opening bids. : s 8%... 4. — 2 ; : : Dome Mines |. 38% 38% avs — 1o|AmGnEa 61 68 | OFKL 1416 1539 Month ago .... 829 8.2 952 821| ‘The bulk made $6.75 to $7.50, with Douglas Air ... 38% 38% 38% + % [Bos Pd 14.10 15.72] "CFS2 13.80 15.12 Year ago ...... 946 998 104.9 . 99.8 several loads good 1000 to 1100 & pf. EA I 3% .... rit Ty 28 .43| '’ CFs4 4.62 5.13 | Two years ago. 93.2 946 105.4 97.7 t a hort Du Pont ....... 114% 114% 114% — % | Broad St 2235 22.90/Md Fd 556 6.13938 00 954 se5|Pound steers $7.75 to $8; a shor Fi Bd ie roo Ib, 1008 2034 | toss . 61.1 91.4 7.7|load around six months fed 1319 Elec Auto-L ... 18% 18% 18% .... om Inv 3.09 3.31|Nat-Wd sec 2.86 2.96 | 1937 101.2 106.0 1003 | pound reached $8.25. Most heifers Elec Boat ..... 9 3 SUN - . . . Z . . TS Elec & Mu Ind 3% 3% 3% _— 1a Cpr Bhs 301 29 Nil Tor % 118 13213057 tow ...... 801 69.3 92.3 S11 graded medium and good at $6.75 El Pw&Lt $7 pf 32% 32% 33% "4+ 14 A 02 ....|N Eng Fd 11.70 12.58 | 1936 high ..... 94.8 100.4 106.2 100.2 | to. $7.40, a short load 573 pound $8. b 4% AY dV d+ Bae PUY Sin ’3 3 2+ Yn Ae md oo Nr ee % ane. | 1936 low ...... 90.0 84.7 103.5 93.3 | Beef cows ranged from $5 to $6, odd WY, Yo1 v. | -* Ace md 2.45 _. | Bnk Stck 7.87 832 (Copyright, 1938, Standard Statistics Co.) | head $6.25, cutter grades $4 to $5. Gen Electric 00 3912 301 4 T 15 | Grom Fos or00 7400) Blag So £63 18 Good and choice vealers at $10.50 . /8 fi q : ‘4 Sen Mol A 1 iF 7 |Dp p BE NY. 13 [| Mach ' 732 793 opened stage: Feb. 18. (U. P).—Bonds|i, 1150, and medium grades nt Gen Retr Bla ma 24 + jp | Dep les ASRS.) of 35s 32 Open Change | $8 to $10 were about in line with Graham-Paige . 1% 1% | 1% Divid D 515 5.75 RR Eat 695 7.3 Atch Top S Pe 45 98 ........110 .... | Tuesday. Gt North pf ... 23 23 23° — 'y|_” Shs 1.16 1.26 el 7.386 7.97 | Bell Tel 5s 48 ......... ees : Gievinnt Cp. 9% 9% 9% + 3|Eat How 18.89 iE Io Am Bd 52.38 ; Bklyn oodis Us es Lod -— All slaughter classes in the sheep’ Grevhnd 3% ‘of Tu Ta {Ta + la |Qdelty JTERA3% um Tass 1a3 Lil | I Cent ds 53110 init dle oy [division moved at steady rates. Cl oF Blok 348° ‘2.63 1006 231 . oe Ju; wi RR 15 vies Ce a Western and rallye =f X ’ : ] Sereyivs wes ambs topped at $7.50, with other Hat Corp ..... 6% 6 6% — ¥% |Fix Tr B ga 7 43|Suar Inc 10.65 11.61 Bom Bases 1111 Lill end a | f fu . Ba vep Jr 8.72 9.22) tenn RR 4/28 65 ......... ‘os % | fat descriptio to $7.25. Hakone Ki Sg f° Fong Ti A 3.60 3.85Reb In Cm 30 3 Stand Oil NJ 3s ...ooiiiiiil 01% +. % eScriptions §7 to § HOu1D > '%. Fd In Ic 15.30 13 Et 1 79 CHICATO. Yet 15 I. Boy fibtes fies wf} Fd Tr A 438 5.00/Soven Inv 64 ai ; Fe - 1 10% 1, |Pd Tr B 39 rsk 14.08 14.82 geipt s, 16,000, including 3000 hom oS Mar enna oop. 1374 1 16 FT 74 gn Cap 28. 7 0.88 Soa ve” Lv05 C b S ponirly a active; generally 5 to 15 cents Interiake Iron. 10% 10% 10% .... Gn Inv Tr 4.42 -4.81|Stte St In 74.00 I. 40 = ur toc S high 220 1b sa 300 I ood ol Z 330. co Int Harvester . 62% 62% 62% — 3% | Group Securities 4% 2p CP “A 292... ; 150-220 [ss nous oP iy 2.37 Int Mining 109 109 10% 1% | Abe Code sa» © 3271 0 = By United Press 7.90: PAGE sows, strong to 10 cents case / p * : ” >. NEW YORK. Feb. 18 (U. P.). er; ul 00 medium an eavyint Nickel oa a0 Si S50 3 : 7 3] 13 188 ” AA Y5 +... | stocks opened steady. ! ). = Curb weight. $6.90 afas: few lights, 3. 2507.35. Int T&T «vo... 5% 5% . 5% + ¥s| In Shs 69 76 ” 04 Change o Cattie Receipts, 1 0.000: calves, LL, 0. K. in 1.17 1.28 Supervised 8.75 9.73 v, int Bove) S 40 HE 0 Si a ® $70 ash or: 3 36%, "36% 36% + Y Potro 1.03 Ihsan co 3 +-1-16 early Lop, $9. 85: "Some held above $10.50; Kennecott «.... $4 s 8 2 BR = 105 10m Bi A $3: = YY heifers, strong to 15 Solis higher. Desk 5; | Inc Invs 16.10 17.31] ’ Oil B = 5.54 + Veig 1y. helters. early S300: mised seers leh Val. BR ... $9, 8, — 7% |Inst1 Securities, Lid Trsted Ind 87 + 1 | and heifers ‘up ic $875: cows. "scarce: ce anake 31 243 24s — Ya k Grup 1.14 1.28|USEL&PA 11.60 12.12 + 1 Sted yi bulls adn vealer op L-OF Glass 3 31 + %| Ins Gruo ’B 1.61 J 1 s, ‘$6.85; vealers, $10@11; sélects to Liew 4 My B.. 9 % | Invest Bank’ Corps. | * vt 6 84 —"13 Lif focus .. 18, J LB, 0" Enkacad™ well ba 12:08 1058 Tif | Sheeo—Receipts. 12.000; including 2100 ERSTE RWB $7 2%@7 50; heavies. Sas FL oe on Mee . . , lower at [email protected], with Choice L 2round Man Shirt .... 11%2 1112 112 4 % [ INC ME T X $7.50; She easier; ewes, Sms ene Vy 117 11 dees ; | CARAYELTE. Feb. 16 detiie bh & ol YOUR OME TA yal Ted, fl pi, of vat Hi cintyre Porc s 8 8 -— 7/8 ‘ S., 3 cKes 34s 34% 3h + I : RT 326; 360-335 lhe. 47.8567 85: piks. 38.3 ieivile sh 43% 43 ’ 4 hr No. 23—Deduction for Depreciation down; roughs. $7 down; caives, $1010.50; Mo-K Tex .... oy! nw. 22 : , : RMLs, — Hogs— ys wo az n The revenue act provides for “a reasonable allowance for the a et) AN Ts (U. Poen 0 1 : onsanto _..... 5, 8 8, T 12 exhaustion, wear and tear of property used in the trade or business, 200 lbs. $8.75: 200-220 lbs.. $8.60; 220-240 Mut Ward..ohv 3516. S00 3% + % || including a reasonable*allowance for obsolescence.” For convenience, a re rr Baba 0 bot te ; lly is referred to as depreciation. 325-350 1bs., $7.65; 325-350 lbs.. $7.50; 140-Nash.-Kelv .... 8% 2% 9% .... Suchsllowance sue ibe. $8.35, 170-140 Ibe. 88:10: "160-130 Nat Bis pf 155 185 185 .... In claiming a deduction for depreciation several fundamental ||ips, $7.85 Roughs, 36.50; Be $5.25; Na Cas” Reg. 17 17 17 — J || principles must be observed. The deduction must be confined to || caives, $11; lambs, $735.7 Hogs Nat Distillers .. 21% 31% 2% T 1{2|| property actually used in trade, business, and/or profession, and to || Receipts, 2650. including 660 loc gen Nat Gypsum .. J% 3% 43% © {|| improvements on real property, other than: property used by the erally steady; top. $0.10: 200 225 To. 485: Nat Steel .., 55% Lb Bh IT i|| taxpayer as his personal Fosidonce: In general, Be applies Jo be sows, $6.25a6.5 90. Sls. calves. S001 setter vpe 5 taxpayer's capital assets—buildings, machinery, etc.—the cost o attle—Rec ; NY Sentral 11% 11% i ’ ’ slow, steady to 25 cents higher; (od J nt NY ship ...... 9% 9% 9% + Ya which cannot be deducted as a business expense. yearlings, $8; few near 1000-Ib % Noah Am vis B70 3% FR. A lawyer, doctor, or other professional man may not charge off || Dart load 60o-ib. heifers, 31.50 “Slat to Oliver Farm Eq 21% 27% 21% — % as a current expense the cost of a library used wholly in his pro- ters and, cutters $3.%5@s: practical top Otis Steel _.... a 3 3k — % fession, this being a capital expenditure and. the™library a capital Toa pte, 530. including 440 di Opsas Nl Glan WH ; fase asset; but he may deduct an allowance for depreciation based upon || rect: offer foo light ic test prices; quoted vackard i% 4% 4% + %|| the useful life of the library. wether ambs siigible. from $750@17 15; acid Pet'l 9 9 9 +1 If part of a professional man’s residence is used by hi for common “and medium grades, $5@T; TEU. 3% 4 3k ll office purposes, a proportionate amount of the depreciation sus- [|Siaushter ewes mainly $2@3. denn D Cem .. Lo % gh Ah .... tained may be deducted, based generally on the ratio pt ihe num- ROCKFIELD BANKER DE AD denn R R rt ber of rooms used for such purposes to the total number of rooms : p 25% 25% 3% — % : Fr Di ¥ 31% 31 31% — 21] in the building. The same principle applies if a taxpayer rents to REED: re en rE ang pure Oil «eee. 11 23 1 — others a portion of his residence. Under such conditions, however, former. Carroll County treasurer, RRO + ass ee 6% “6% 6% — Y% the taxpayer must include in his gross income the rentals received. died here last night. ; Bid Asked k of Ame C8 ..ocvecensses 43 45 i of Manhattan Fvivel 22% 23% Bankers Trust .......... 3542 482 Bank of New york Trust .....355 361 Brooklyn Trust .......... 82 87 Central Haayot een . 3 3% Cremioal 11! ata Pag 42% Commercial * 138 144 . Continental . 11% 13% Corn Exchange . 50 51 Empire 2 i 22%, 23% First National, oe -1750 790 Guaranty . 238 243 Irving... 11% 13% Manufacturers 37 39 : National City .... C21 wY% New York Trust «e 90 23 Public ....co...... 2 30% Title Guarantee ....cccocc00e. 1 4%; 1bs. and up, ldc; Ths ahs. Th Le Leg eho, ness, 1s ibs. 5 Se Pear a ringers. 1% Ibs. and over, .15¢; Loan Yoostors, 8 c. i i No. ‘1 strictly fresh country run eggs, 15c: each fall case must weigh 55 bi rots. iF Jct decuction of a ae vo eac. Butter—No. Lp d1%@szc: No.2. 20%: @ FINANCIAL STATEMENT (fies prices qunied by the Wadley” Co. 9,000,000 EMPLOYERS MUTUAL LIABILITY INSURANCE COMPANY WASTE 8,000,000 December 31,1937 3 9 ‘ Assets PAPER 7,000,000 ; Bonds (Amortized) .eXoTeTeTeYe $11,514733.07 Stocks (Market) ite Te e 862,676.00 AMERICAN PAPER 6.000.000 Cash in Banks and Office . e © eo 1,213,204.47 STOCK COMPANY ’ s First Mortgage Loans = + “eo o « 269,063.67 RI1-6341 ‘320 W. Mich. 5 000 000 . Real Estate « ¢ ¢ o oo o.0 o 90,785.00 2 ’ Premiums in Course of Collection « « 1,450,721.09 (Not Past Due) . 4,000,000 Accrued Interest and Other Assets 172,367.72 $15,571,556.02 3,000,000 Liabilities . Reserve for Claims o~svs yi oe $ 8744,695.49 2,000,000 Reserve for Unearned Premiums’ «x o; 2,674,155.62. i Reserve for Dividends - - +. eo ole; 351,631.20 1 000 000 (Declared but not Due) ~ 3 3 Reserve for Taxes. « « « o:e-o-o 202,740.08 2 Reservg, for Accounts Payable -«- «Te = 113,129.46 500,000 Voluntary Reserve Besse 400,000.00 - Guaranty Fund se $ 500,000.00 400,000 Surplus = - + «7s 2,585,204.17 Total Policyholders’ Surplus o.- _3.085,204.17 ‘000 : : '$15,571,556.02 300, 2 $ 3 »

1. Your loan pa; in approximately 12 years. ‘ 2. You may pay your loan. in full at any ime WITHOUT PENALTY and with interest TO DATE ONLY. . 3. Courteous, PROMPT action on applications. Personal Lh contact with your Loan Headquarters here at HOME!

Fees for Mortgage Insurance and Service Charges

MONEY INVESTED IN FLETCHER AVENUE SHARES PARTICIPATES ED FROM DATE OF INVESTMENT

Since July 1st, 1935, 1% (Per Annum) Compound Dividends

G tcher Ave. Saving & Loan Assn. "

200,000 100,000 39,000

SAVINGS TO POLICYHOLDERS SINCE ORGANIZATION $19,651,501.58

PORKE Ve

: bution of goods and services.

"WORK ana WAGES

The earnings of everyone come from the production and distri-

Any force which adds to the volume and efficiency of production and distribution affects all salaries, wages and commissions, * Bank loans extended to industry contribute all along the line to a : steady, dependable flow of work

for the welfare of everyone.

The American National Bank :

likes to feel that every loan it

makes is contributing in some

measure to the prosperity of this community and its citizens.

AMERICAN

NATIONAL BANK

at Tuiiawapotis

. { . Co-operatives to He Topic Of Town Hall Lecturer Saturday. Jacob Baker, former assistant . WPA director; is to speak on the Town Hall lecture series at the Co- { lumbia Club Saturday at 11 a. m, - on “Is Co-operation a Menace to - Private Business?” 3 Mr. Baker headed the Inquiry on . Co-operative Enterprise Commise sion, sent’ to Europe last year to study producer and consumer Jacob Baker - co-operatives. After a tour of 10 countries, the 10C AL LIVESTOCK Commission reported its findings to President Roosevelt. It recoms BOD iiiiiiiiiivesesss.. 915 ea17| mended: A thorough survey of U, $ renin tani 33% i%3|S. co-operation; establishment of 13: seseeeeess 00 D108] Government agency to -furnish 12. ces uss rise areata cae : 338 food co-operatives with information and : 15 «+ 9.00 4188 advice, and assurance to consumer i Pied" Good ‘and cholce..§ 8.10% 9.00 CO co-operatives of the same facilities - 00: n choice v o (180-200) Good and chorce: 3.850 9.00 | for obtaining credit as provided - (20 C234 4 ley 4G 480) farmer co-operatives. - Ol . a . (330-290) Good and choice.. 7.95@ 8.45| Mr. Baker is to be introduced: by (290-350) Good and choice.. 17.65@ 8.05 | mygene C. Foster. Mrs. John Hend="" Pacing Cs 7.10@ 17.50 | Ticks Bingham is to be hostess for (2 435 3) g 5 73 the open forum luncheon following _ {273°530) Medium ..iiiii." 6:25@ 7.00 | the lecture. j Slaughter Pi " . (160-140) dood aud choice.. 17.835@ 8.35 S202 125G. 8.10 LOCAL ISSUES Sand 8 —Receipts, 1373— (By Xhdianaveils Bond & Shaze Corp eers— * The foHowing quotations do no 750-900 12 8.75 | sent actual bids or offerings. but merely (900-1100) 7.50@ 8.25 | indicate the approximate market leve (1100-1300) 7.50@ 8.25 | hased on buying and selling inquires cr 1300.1300) > 2.00 recent transactions. - A . BONDS 7 ou -1100) 6.75@ 7.50 ; Rm: = 1339 8:50 American Loan Co = rice Shi 4G 18 GATT 1100-1300) M : : e e a . (39-110 ) Common (plain) .. . 6.00@ 6.75 | H Fick ay 104 & Steers and Heifers— ne Tol Co 58 aS" -%95 9 (550-1750) GOOd ......:cc0000 7.00@ 8.00 nd Railway Inc 5 an 50° 50-000) Goo TH eTS 7.00@ 7.75 | Interstate Tel & Tel Tso 63." A 87, (550-900) Medium ....ll1.l. 6500 7.25 | FAgPIS Water Co 3 Es o% ss 1 _ (550-900) Common eres 5.50@ 6.50 | no tOO WRi0c 8 Cows uncie Water Works 5s 65. All Jyolgnts~ 3. ‘5006 8.50 Singin 3 cesses s0ss0s00esssnes 0. o » 0.1e Medium evasive ree enn 3300 su Puy Xo is ie erie NR SEE, . . cnm £m Touier and ouy trvees 3.75@ 4.75 Seymour Sour Co 5s 4 Yearlings excluded” ri weights) — i : 3 Vater Works 3s a9 Ca werehts) Medium ...... 5.130 6.50 | Trac Term Co 5s 57 a Cutter and common ........ 5.00@ 5.75 ,8TOC : Vealers Belt RR St Yds com. 53% Receipts, 500— oe I Ba Bt Y5% pd... ‘18° : — » en es (All' weights) Choice ...... ve. [email protected] | Home T&T W 7% vid... 53(All weights) Good .......... [email protected] | Ho! Drug com...... ess 16 (All' weights) Medium ...... = [email protected] Ind & Mich Elec 5 ihidp Cull and medium Ahi IRA i; y ind Hydro Elec 17% : a an. : s Gas com ........ —Receipts, 425— Inpls Pur & Lt pfd 6%.... 82 25%. n Ss * 2% ev. .aevee v (250-400) Choice rants . 7.500 8.50 In dois LR RIV a 2. Medium ... om ' 5.006 6.00 xLincoln Natl Life Ins Co com 2 ag. Common ......... 4.00@ 5.00 Faeroe we ¥ : i Feeder and Stocker Cattle N Ind Pub Serv Df, 6% 5 a. pe TS— erv 7% Le (500-800) CHOICE .v..ceees. 7.25@ 71.75 | Pub Serv of Ind 6% 18 (800-1050) Choice ....eeeee.e 7.25@ 7.75 | pub Serv of Ind 7%.. . sie 22% 25° $0 i000) Sood [iii S02g 733 | Prosress Laundry £° on ge. Ne (500-1030) Medium ".:i115.110 6.000 6.18 | Union Title Co com. c...... 23 ' 2 3 (500-1050) Common ........ . 5.00@ 6.00 32n Gamp ilk % pid... «1 34 I iC Heifers— an Camp Milk Co com...... ; He Goo 750) Good and choice:. 6.25@ 6.75 : (By M. P. Crist. &.Co.) Common, medium. 5.00@ 6.25| Market St. Investment Corp.. -22.23 23.89 SHEEP AND LAMBS XEx-Dividend. i b —Receipts, 1292— i cerenreesees T.35@ 7.50 00d. J isvaes sees snser ene Se 7.25 ; Medium ....ocasves0s0e0esss 5.75@ 6.50 Common serunei sesssssscces 4.75@ 5.75 "Good and choice ......ce000 ~ Je 3.00 ‘ g Common and medium ...... 1.50@ 2.50 BOXES » ? oq ; See Final Edition Reasonable » enta of the Times a. Z . for : Security Trust. Co. ° ° Closing Stock Quotations 130 E. Washington St. Member Federal Deposit and Other Late News ! Insurance Corp.

WE og

Fe J,

ome Aa

EEE ER a »4 oF ht Bd aad

PEA Ee de