Indianapolis Times, Indianapolis, Marion County, 8 March 1938 — Page 12

N.S aaa

ila

- IN STOCK EXCHANGE DECLINE

Whitney * Co. Failure Causes Flurry on Market.

NEW YORK, March 8 (U. P.).— . Insolvency of the stock exchange firm of Richard Whitney & Co. caused a flutter of excitement in market circles today and played a ‘part-in a quiet decline ranging from 1 to 3 points. " Only small amounts of selling were needed. to bring rather wide price . concessions. Traders were cautious pending further details of: ‘the insolvency. United States Steel, long known -as a Morgan stock, resisted pressure, It declined from 52% to 51%, off 1% and then met support. Bethlehem Steel had a like experience. National Steel touched © 53, off 3. Westinghouse Electric sold down . to 88, off 3% and then came. back part way. Case dropped 3 points to 83. Losses of 2 to 3 points were

: made by such issues as Du Pont, . International Harvester, American

Telephone, Ingersoll-Rand, U. 8S. Rubber preferred and Minneapolis Honeywell, and J. C. Penney. Norfolk & Western dropped 10 points to-a new low at 172%; on two sales.

T oday’s Business At a Glance

GENERAL BUSINESS

‘+ American Zinc Institute reports February shipments of zinc 21,540 tons vs. 24,931 previous month and 46,943 year ago; February produc~tion 41,146 tons vs. 48,687 previous month and 37,794 year ago; Febru-. ‘ ary stocks of slab zinc 10§138 tons vs. 88,532 previous month and 24.- : 616 year ago; February shipments ‘of slab zine 14,233 tons vs. 13,500 previous month and 27,349 year ago. Automobile Manufacturers Asso-

_caition February auto factory ship-

ments in U. S. and Canada. 205,100 cars and trucks vs. 228,074 previous month and 383,900 year ago. Dun & Bradstreet report week ended March 3 business failures 242, lowest since -Dec. 23, vs. 246 previous. week .and 174. year ago. Oil & Gas Journal reports week grided March 5 crude oil outputs=in U. S. averaged 3,353,127 barrels daily, up 27,680 barrels from previous week. |

CORPORATION NEWS

. American = Hawaiian Steamship Co. and wholly owned subsidiary, 1937 preliminary profit, $49,499 vs. $378,779 in 1936. American Mfg. Co. and subsidiaries, 1937 net profit, $428,743 vs. $480,259 in 1936. ‘American Tobacco Co. 1937 net income, $26,197,493, equal to $5.03 a share on combined common and common “B” vs. $20,183,821 or $3.70 in 1936. Birmingham Electric Co., 1937 preliminary net income, $775,709 vs. + $620,779 in 1936. Falstaff Brewing Corp., 1937 net income, $618,475, equal to. $1.27 a common share vs. $757,192 or $1.68 in 1936. - Gardner-Denver Co., 1937 net income, $1,153,176, equal to $1.84 a common share vs. .$1.049,106 or $1.66

in 1936.

Greyhound Corp., 1937 niet income, $4,915,375, equal to $1.77 a common share vs. $4.239,216 or $1.59 in 1936. Interstate Dept. Stores, Inc., Feb‘ruary sales,” $1 047,883 vs. $1323, 159

__year ago.

Kansas Gas & Electric Co., 1937 .net income, $1,204, 846 vs. $1,257, 971 year ago. Kroger Grocery & Baking Co. four weeks ended Feb. 26 sales

$17,742,559 vs. $19,467,011 year ago.

Memphis Power & Light Co. preliminary net income $1, 764,813 vs. $1,337,512 in 1936. Minnesota Power & Light Cop.

+ 1937 preliminary net income $1,491,-

537 vs. $1,273,627 in 1936. National Malleable & Steel Casting Co. 1937 net profit $1,945,723 ~ equal to $4.02 a share vs. $1,130,408 - or $2.39 .in, 1936... Nebraska Power Co. preliminary net: income" $1 841 412 vs. $1,825,026 i 1938. Jd: C. Penney Co. Fe sales

"$13,437,002 vs. Lop To year ago.

Simonds Saw & Steel Co. 1937 net profit $1,738,527 equal to $3.48 a share vs. $1,515,041 or $3.03 in 1936. Worthington Pump & Machinery Corp. (Del) and domestic subsidi~ aries 1937 net income $1 ,621,979 vs, $248,497 ni 1936.

DIVIDENDS

Celanese Corp. of America $1.53 on 7 per cent first participating

preferred and regular quarterly |g

$1.75 on 7 per cent cumulative prior _ preferred, both payable April 1 rec-

Continental Bank & Trust Co. of . New York, cents: payable April i record March 18. Firestone Tire & Rubber Co. 25 cents on common payable April 20 record April 5 vs, 50 cents Jan. 20. Harvey Hubbel, Inc, regular quarterly 30 cents on common payable 4 22 record March 14. Hercules Motor Corp. directors took no action. New England Power Association ‘$1 on 6 per cent preferred and 33%

regular quarterly * 20 | bulk

Rising Market Fails to Draw Farmers’ Sales] Indiana farmers are not selling

again today light receipts of . all

advance, according to th eBureau of Agricultural Economics. Slaughter steers and heifers weye

with cows of all grades strong. Today's display of steers included more well finished bullocks than on any session this season, comparatively speaking, approximately 15 to 18 loads grading good and choice and cashing at $8 to $9, the $9 price for good to Sholo 1066-pound long yearlings. Most heifers ranged from $7 to $8, good 916-pound weights at the outside. Good beef cows demanded $6.25 to $6.50, other fat cows $5.25 to $6,

were 15 to 25 cents higher for. two days at mostly $6.75 down, odd head $7. Stockers and feeders have advanced 25 to 50 cents this week, bulk sales $7 to $8. Vealers remained unchanged, with handy-

$11.50 Although receipts of hogs were more liberal than on recent sessions, the supply was still only moderate but this did not create the active competition of previous days. With killers claiming to be “losers” on purchases at the new high levels, there was a decided attempt to lower the price structure. Local killers took some hogs early | & at generally steady prices, but bulk sold tol shippers later 5 to 10 cents lower on weights above 160 pounds, with lightweights and pigs 15 to 25 cents off. The extreme top of $10 was paid on local killer account early for best 200 to 220-pound butchers, with ‘the limit $9.95 on shipper account for 210 to 220-pound

caped steady. Meager lamb supplies , spelled further upturns on this class, the advance figuring 25 to 50 cents, lack of strictly top quality on western offerings being considered. Strictly choice natives topped at $10, with best westerns stopping at $9.75. Clipped lambs sold at $9.

HOGS

S8ovonn woo

28; rR

eee. .

09 00 =I Ch Cn oC bs MOOO00 O09

Barrows and Gilts— (140-160) Good ond (160-180) Good and {180- 200) Good and

250-290 (290-350) to and

Packing Sow (275-350) Good (350- az

DNoo oUt On

beg (375-520) Medium

Slaughter P (160-1 -140) "dled 5nd choice. .

SW PERE OOOOOVN

I Quo 45 01 300 00 £3 00 vo Wie INuID ;moooo® Do woos ue

—Receipts, 1614— (750-900)

® SENEEEESSO

3 s o ae BN NNO OIOD-IN o> 23838538358

EH 33=30000.00 ~340 0 00 00 NOD OO CUNOONOD NU

) Medium Common (plain) . Steers and Heifer (550-750) Go

2 3

au S89 0 OCPRPRRRD

(750-900) (550-900) (550-800)

388 2-30 Sak

Comm “sues . Cows All Weights— Good

Medium

Bulls Yeariings excluded (all weights)— od (bee 3 Au weights) Medium tter and common Vealers ~—Receipts, 500

(All weights) Choice (All wei Ehis) Choice (All weights Cull an

—Receipts, 618 (250-400) Choise

(500-1080) (500-1050)

3 maaame oh OD) =I =I BODO

00 our

Good and choice... Common, medium

SHEEP AND LAMBS —Receipts, 996—

Heifers— (550-750)

Lambs— Choi

N C

Wes— Good and choice .:..... eves Common and medium

CHICAGO, March 8 (U. P.).—Hogs—Receipts, 713,000. including fg directs; market, barely uctive: now 20h sents oa ulk go and choice 150- 320 $9.50 9.80; top, $9.80; 260-325 1bs., 452507 medium to good 140-160 Ibs. $9 9:50: Siedlum sand Heavyweight packing SOWS, Sheep—Receipts, 6000, no directs; late Moncay fat lambs, 25 to 35 sents, Higher: top, $9.60; 100-107 1b. Weights, $9.2 today’s trade active, most, y steady; "choles woolskins, $9.40 0; choice $8.50: sheep, strong to 25 cents Sinped: ewes, $5.50. Cattle—Receipts, 8000; calves, shippers less active and atrictl good “and To gt I ards; wer Earn sh oe fo ads Sos so Lon . $9.90; few loads @9.50; 1i hi and weighty oo

erred both payable | S050

April rch 15 vs. quarterlies of $1.50 and 50 cents re-

spectively Jan. 3. Ee Electric & Engineering

Co. 25 cents payable March 25 rec-|$ vs. - like payment

«< March 15 - 217. Des Stores, Inc., ‘quarterly 25 cents on common payable April 1 4 March 19. Company paid 3 dends of 50 cents each April 18 y 1 and 5 per cent pref e common

on each

: Foon PRICES ost, alls "deer Bota.

bushel ham T'S, is, buh 40c. c: Bhigach

282" halter

50 Oct. 1 and 1-100 share | $2. : erred

90; h

down

ghty ‘kinds steady to weak at $10.50 | EUR

FT. WAYNE, March 8 (U. P.).—Ho| Market ¥ to 1a cents Su: 200-220 9.80; 180-200 S., .70; 160-180 Ea 3 3b 240-260 1

:60; 9.30; 85; 140SR otghe lambs, $6.25.

lbs, 15; 1505 ‘$9.15; 120-140 “ibs. ; stags, $6.50; calves, $11.50;

MAE Ev 208 20 Bs. [email protected]; 220-265 Pe. er, 595.7 5: 240: Bis-525 1bs.

75 lbs, 40 30:5009 9.60; %0. 25 9.35; 0 Ibs, Ko Pi down. & Houghs Be 3590 on “aves ty

LOCAL PRODUCE

Heavy breed hens, ” Jos. and up, 15¢; under 4% es, 14c; horn ony 12¢c; heavy broilers, 2 lbs. Ie over, 18c; Lege 1 roosters

14¢;

shorn Bretless, 1% lbs. and over, 14¢; Eggs—No. 1 strie {fresh coun ; each full iiotly must "Ts “The 1bs,

cattle o nan advancing market, and |B}

classes sold with the week’s previous | Borden

25 cents higher for the two days, | Bullard

cutter grades $425 to $5.25. Bulls |&

weights largely $10.50 to $11.50, top | Bo

averages. Packing sows lost mostly | Int P&P 26 cents although some opening |i¥ ToT sales were off less and a few es-

bog Nash Kelv ..:i.

: Terre Ha De Se

ee h * Low Last C 87 8 20

iii Shes

Ford + viene tee ESS

BER SRE

PHIRI +0

A Aul burn Auto . Aviation Corp .

oe aim . °e

i% —B—

Bald oa gt wl 9 8%

Blaw-Kn OF. vers Poeing Air ....

i+ +)

Can Pacific . Carriers & Gen

Che hrysl City I 4 Coca-Col: Colgate-F Colum G Cons Edi

«3034 ©r4I0 EEO

BIR

8 “Ih O=O . -

HII

. 18 eo. 20% —D— Deere & Co ... . 38

Cutler-Ham

D380 38 [118% 118% East Kodak ...153% Elec Auto-L ... 177 Eng Pub 8 .... ¢ —— 10 26%

153% 15! 17% 4%

Fed Li 10 Fa Stiphur. 26% Gen Baking . 7% Gen salle pt. 6

Hayes Bdy oe Hudson Motor - Hupp Motor ...

Inspiratn Cop . 12% 12% Tnsshe. ct cts Md . 4 4 TY, V2 ... 29% 29% Ve Ve —K— Kennecott 36% 36 Kresge SS ~ 1{% 17% | Kroger G&B . 15 15 li 25Y2 . 235% . 33Ys 33% 46's - 46% —M— 20% 31

Lehman

tin GI ... McKesson Robb Mesta Mach ... ident Pet .... Mont Ward ... other Lode .. Motor Prod ...

Vs Ye

| $e0a0

= TesERAEET DHE

Central "16%

is in PRICE INDEX

NEW YORK, March 8 (U. P. )i— Dun & Bradstreets daily weighted price index of 30 basic commodities, compiled for the United Press (1930-32 average 100): Yesterday sesnesss 113.24 Week 880 ....cecovovcsessars 113.55 Month ago ...... Year ago 1938 high (Jan. 10) 1938 low (Feb. 15)."

INVESTING CO.’S

(Inv. Bnkrs. Conf. Inc.)

Adm Fds 11.51 12.25 1 Bos Cp 1 Affil ¥d 389 438 Schellkp Am H 0.25 22.00|Inv

eisecsses 148.67 117.06 111.98

om sien =

eC) 300 1s 4 DIO oh pt pk fot BO Bt B

[oo

1 3. 3. 9. 3. 3. SR, uhehn onl rit prod, 5 32 65 24. SaiMa 5. Bul A 43 13 -Toiadss In Tr 19, Can Inv t 2 4.00!M n Fd 1 Cent Trs . .10 3.32 1.

OI Ot 4D)

.|Natl Inv 4.94 5.2 IN Eng Fd 11.78 12. iw Stocks Inc:

. a . HE Bicks 7.97 Ea i 7.08

00 ID ~3=3 monn ~100 00 «200

cee ins h 3.35 Met hs 33 5.40 Oils .16 1.26 RR Eat 04 18. 2 Steel 26.00 29.00(N Am 1063 ue i 87) » 1358

por -3000 36 “E00 Dib ih SEI 00 1 FiseurawRetr $140

pot © ©>™ > 00 ND

hE Trek. 14.08 5 en 3 d Am Tr 2 .

2.30 Std Util 4 Stte St 7 4. 00 Sup_ Cp 2.0¢ 3” B

wh ot (--]

oe .

roa tn ERS BI = BIO WOW

% 53 83| Pry scurities Lia: Bnk G 1.12 1.2 Ins Gru D1 23 Invest Bank a rps: Bnc Bl 3.8 88|

LOCAL ISSUES

(By Indianapolis Bond & Share Corp.) The follow: quotations co not represent actual bids or offerings, but mere indicate the approximate market level based on. buying and selling inquiries or recent transactions. BONDS ; id n Loan Co § ga. . 95 98 x 100% 108

8D pa

Americ nd v 1 Fw sia ds’ oe Te

Interstate : eed Indpls Water Co 3%as 5 1 Kokomo Water Works 5s 38 [iggy Morris 5 & 10c Stores, A 50.. 98 Muncie Water yous s 65...103% Noblesville HI&P 100Ohio = Service 6s ww. 8s

W 58 57 ..cuvess Seymour Wate; Co 55 40 ......100 Trac & L 6s 44 ..........102 T H Water Works 55 56 ... T H Water Works 6s 49

Bn Trac Term Co 5s 57

kD na Mich Ind Gen Serv c cot Ind Jydro

ans pls Gas com” td i . 81 % Ind Bs BP & L 6%% ve si 10s 0 com. Ch 59% N In Pub Serv a Pub Serv of Ind 6 Eth rv of ‘Ind 7% ca 8%. As eve a8

4! Week ago ....

; 1936 low

4 | Italy (1 Bel

Uru uay (peso) -.. 4 M ag : 50 onEKE a yuan)

pag “evs ul es 728, 390 ger ym = fresh siad Ria (90-

Asked | 738

72 woh

NEW YORK STOCKS

By United Press

DOW-JONES STOCK AVERAGES 30 INDUSTRIALS J Yesterday .. .-125.38. —2.29

Week ago se ee i yarn <+0.83 T

Month R80 .ciescsccnsencss..125.52 +4.13 | ¥ear 880 .-c-ccooens Savane ..198.29 40.60 High, 1938, 134.35; low, 118.49. High, 1987, 194.40; low, 118.64. 20 RAILROADS

Yesterday ..ccoccocvevee { Week 280 ...ceveesncncacsscs 30.02 40.12 Month 280 ..cscccvesocccss.s 27.88 40.78 Year BF0 ...0civucrascnveshss 62.20 +0.10 High, 1938, 32.38: low, 27.08. High, 1937, 64.46; low, 28.91. 20 UTILITIES - cosvisasasesagencss 10.11 —0.24 sssesiessessgsesn oe 19.91 «40.09 Month 20 :cccsscecrsersoss. 18.98 +0.40 Year ago ....eccvuee sesesve 84.37 "os High, 1938, 21.86; low. 18.25. High, 1937, 37.54; low. 19.65. 70 STOCKS

Yesterday cccocccccccice Week 380 ccoecessascsscesss 42.41 40.24 Month ago . sesso. 40.46 +1.22 Year ago ‘ High, 1938, 44.42; low, 38.51. High, 1937, 69.67; low, 88.87.

Yesterday: Week ago

Ohio Ofl ...... 12% 13% Otis .Elev 20% 20% Otis Steel 9% Ya

Pp & Sharp Ofl .o.0oe 21 Snider P) ‘3 SO pau ess “a0 oq

ub ft ut pet BY Bb CY 100.00 ¢0 00 = =F Tita t=t oJ ib 0.03 es

SEFSRESSSES

HEN EL

Superhtr oi Swift & Co .... 1

SESRENANE

«30% 39% RB 8%

N. Y. Bonds

BOND PRICE INDEXES 20 20 20 60 Rails Bonds 62.5 8.7 65.0 79.9 64.4 78.6 100.0 99.6 94.1 97.3 70.0 82.5 61.1 101.2 69.8 100.4 84.7

Texas Fas Texas & & ag

| * fpubeo

Inds. 80.8 81.3 cree 79.8

Utils. 03.0 93.5 91.6 104.5 105.3 95.4 91.4 106.0 92.3 106.2 103.5

Yesterday .... Month ago Year ago .... 9485 Two years ago 92.4 1938 high .... 83.0 1938 low 79.6 1937 high .... 95.0 1937 low .. 80.1 1931 high .... 94.8 90.0

100.7 81.1 100.2 93.3

March 8 (U. P.).—Bonds . Net

Open Change esse 104% la

NEW YORK, opened lower. Allis Chal 4s Am & For Pwr 8s Australia 4%s .. Can Pac 45 .... Ill Cent 4%8 ceoce Italy 98 ...sceaeie Japan 5%s ... N'Y Cent 3Y%s Par Pict 65 ...cc.0 Rem Rand avs

Curb Stocks

NEW YORK. March 8 (U. P.).—Curb stocks opened easier.

— +Ya

cescesessss 113.87 Am Cya

ie vou

Bud Bay site Min La Lan Pantepec oi Ef praaa rata

I I y Tee Color ....ivee 1

FOREIGN EXCHANGE

WwW. YO March d U. P.).—Fore 0 Ci able et en

Sabi England (pound 5.01 11.18 +00 1ho16 PBosiand o Barncle) *3.00 15-18 00 118 a doa oe 31-32 France (franc) PR —.0001 re Teves Eh ve I 00214

T +.0001%2 +.0002

um Sm, ! (mark) Ger. (travel mark) rilseriand (franc) Holland (guilder

+.0002 +.00%

Greece (drachm Jugosiavia A dinag) New Zea.

(yuan rupee

Japan (yen) ecese

oa) nn CHICAGO PRODUCE

froac ines

15%; cur “16%¢c; storage

receipts

eas aded 4 Sha:

firsts,

91 re), score), fis @30Y c:

c; ext 8 a ig, : 9), 28%c; cen:

i ands dar. cates, cent. Mark st, steady; receipts, 1 car, ghia Sie iis wil AE Cc; 8 hi 5 ers, 3101; goles, 20c; 3 Too ers 163g 1be fh! Daisies, 15%

blac; Lo! C3 ist. Eo os. Hberal: mand x low; "North ile Jano Bliss Tri:

Triround w 1. fock--8u lies, Jnoderste; | demand, metals Ba k ols is, $1.30. rrivals, 69; shipments, 138, ha track, 330

BANK STOCKS

8 tsesevonses” Bank af Sanhsstan esesvess. 383% 24% Banker . 47 49

. 40% vevees. 145 vesebenis 13 SP avatsne 49

sessions

ebb . . 238

. sesesaseve BY

e Guaranee ie

xX S. STATEMENT Sure ar ago:

Rencipts Spts. tui

Ger. Li

Bal as

$334 daqddaadaddd

Ta May

FESS

{ High Low Tic 14% 14 T BB. 42

nt pf ... 82 20th Cent-Fox . 31

Union Carb ... Un Pacific

d Corp . In ted op. Bt n Gas Im

HER + TL TH f

Br)

Wheel Steel ilies Overl d bt 2 oolworth See 3% Jorthington .e

17% Vvoodward Tron 16%,

Yellow Tr .... 13 13% Young Sheet .. 35 85%

GRAIN VALUES TURN

LOWER IN PIT TRADE

Corn Ignores Wheat Slump "As Prices Recover. CHICAGO, March 8 (U. P.).—Re-

actionary trends in the Winnipeg wheat market and securities as well

turned wheat prices on the Chicago

Board of Trade lower today.

At the end of the first hour wheat

was unchanged to 1 cent higher and oats were unchanged to 3 cent lower. - Selling in Chicago wheat was scattered but persistent and prices gradually slid below the previous closing levels. Early advances disappeared as liquidation gradually increased. A fair milling demand has been reported but export quarters reported business flat. New

5% York sources placed export business

around 120,000 bushels. Wheat receipts were 2Q cars. Corn again ignored a dip in wheat and prices turned higher in the secondary grain after faltering at the start today. Houses with export connections did some buying. and th2 bullish activity helped buoy up prices. Corn receipts were 85 cars.

WAGON WHEAT

3 OF grain elevators are paying for No. 82¢c; other grades on their merits. Cash corn, new No. 2 yellow 46¢c. Oats.

LIVERPOOL WHEAT (Toda, U. 8. 7 As RY 0%) °0 Sui ienta based on Low ..$1.90% $110 Toss ‘logs tore 108 198%

CREW, ADRIFT FOR 13 DAYS, FINDS LAND

QUEBEC, March 8 (U. PJ). [12

Adrift in the icy Gulf of St. Lawrence for 13 days with little provisions and nogdrinking water or fuel, ‘was the ‘ordeal suffered by Skipper Ulric Tremblay and thres of the erew of the schooner Sam Ferry Ann. « The little craft sailed from Magdalen Islands for Baie des Chaleurs. Engine trouble developed and the little schooner soon sprang leaks. The crew was forced to: Te their clothing to plug the holes to prevent the boat from sinking. The men finally decided to abandon ship in a badly leaking lifeboat, and after another desperate battle to keep their tiny craft afloat the quartet finally reached land and eventually made their way to their homes in Matane.

DEATH RAY TO EXTEND LIFE DEMONSTRATED

NEW YORK; March 8 (U.P.).— Science offered a death ray to the world today as a means of preserving. and prolonging human life rather than taking it. The ray is harmless to man, but is fatal to bacteria, man’s deadly Two research engineers demon+ strated the ray to 1000 public health

authorities, physicians and scien-

tists last night and. advanced it as a weapon that could almost all microbe diseases, inclding influenza, pneumonia and the common cold.

Bagwa | as ‘the Rentschler-James

Process of Sterilization by Selective Ultraviolet: Radiation, the “sterilamp” was exhibited by Drs. Harvey C. Rentschler and Robert F. James of the Westinghouse Lamp Laboraes.

YOUNG THOMAS RYAN. FIGHTS EXTRADITION

MIAMI, Fla., March 8 (U. P.).— Thomas Fortune Ryan II, son of the New York copper and tobacco financier, prepared today to fight stirs dition to Wyoming on charges of wife desertion and nonsupport. The 38-year-old heir’s attorney was expected to seek a hearing within 1 10 days before Governor Cone to contest the request for Mr. Ryan’s returh to Sheridan, Wyo. The warrant sworn by his wife in

Wyoming was served on Mr. Ryan.

here yesterday: He appeared at the Sheriff's office with his attornéy, posted $100 cash bond and was released in the attorney’s custody.

ICE SKATERS’ SHOES ARE STOLEN AT PARK

rme———

~The villains who ’e clothes while he’ s in the hole in the summer time” have

=U. PL). a feller’s

. ee ® EE

Oe i. 10% sii i 189% [tion program begun in 1932 was

School will give their version of at the school.

RAILWAYS SHOW (GROSS INCREASE

For 1937; Earnings Per Mile Rise.

The anual report. of Indianapolis Railways, Inc., showed a consolidated gross revenue for 1937 of $4,359,307, an increase of 2.58 per cent more than the 1936 gross. Net income was reported at $1,151,251, a slight decrease. After deductions of operating expenses, taxes, interest, depreciation, special retirement charge and indirect construction charges, the surplus was reported aft $11,085. The report, written by Charles Ww. Chase, president, included all operations of the railways as well as the subsidiary, the Peoples Motor Coach Mr. Chase said that as the year closed the rehabilitation reconstruc-

nearing completion. Earnings since reorganization, per car mile were: Trackless. Motor Year Rail Cars Trolleys Coaches

1932 ..cceveneqes 2632 1933 ceceoascccss 280%

Earnings, since BR itn per car hour were: . Trackless Motor Year ¥ Rail in Trolleys Coaches 1933 . cissdseenss $3: 933 : es 62 3.00 3.23 3.81

a TOLD NEED FOR CITY PLANNING

Burns Cites Requirements For Traffic, Homes.

The town plan which Indianapolis drew up a century ago should be revived, in: spirit, Lee Burns, Burns - Realty . Co. . president, . told. Rotarians at luncheon today at the Claypool Hotel. . “We should resolve before it is too late that the new housing district to go up in polis for workers in the International Hare vester Co. plant shall be be intelli-

gently planned.” He suggested: the new development plan for “main thoroughfares for traffic, convenient locations for business, quiet and protected sec tions for homes and space for parks,

schools.” not provided for

thought “the town would not oo much beyond the mile square.”

TEACHER SUES FOR - SALARY UNDER LAW

NOBLESVILLE, March 8 (U. P). Mrs. Elizabeth Commons, Hortonville school teacher, today had on file in Hamilton Cireutt Court a suit demanding $700 back salary under the teacher tenure law. Mrs. Commons contends she was refused a teacher’s contract last fall despite the fact she had been an instructor ‘in ° Hamilton County schools 20 years. :\ She ‘was reinstated Feb. 321 by p Rufus Jobe, trustee, but he has refused to pay her back salary, Mrs. Commons said. The U. 8. Supreme Court recently upheld the Indiana teacher tenure law. i

Plainfield Teachers Demand Back Pay

Supreme Court decision upholding the Indiana teachers’ tenure law,

| three former teachers at the. In-

diana Boys’ school are demanding restoration of their position’ and back pay from the. time they were

€ | discharged in 1938.

The ones taking the action are O. L. Cassidy, George Babb and Rob-

eller | ert Julius, Republicans. * Their de-

| PERSHING'S HEALTH FAIR TUCSON, Artz

ander of the American Exped Fores during the World in “fair condition” “announced.

» Match 8 @. P).|

r mands were ‘made to ‘Governor ' | Townsend, Thurman A. GottIndiana

schalk, director of the Welfare Department; E. M. Dill superintendent of the school, and Cornelius Abbott, principal of the school.

- Snow White and the Seven Dwarfs have com& to life in Indianapolis. The first grade at Edgewood

Left to right, standing, are Horace

$11,085 Surplus Is Reported |

‘PLAINFIELD, March 8 (U. P).[}] —-Basing their action on a recent |

the play tonight | Skippy Schmidt

Times Photo.

Joyner as Happy; Bruce Smith as Sneezy; seated, James Parham as Bashful, Freddie Cory as. Doc,

as Grumpy, Gene Mulbarger as

Dopey and, in front, Robert Moore as Sleepy.

There's Many a

Guesses won't do when assessment list. The reason, Cen

value.

Valuation and Assessment!

Most Taxpayers’ Woes Come on Low Estimates For Autos and Dogs, Report Shows.

today, is that they use the National U

Slip Twizt

t the valuation of your car on the

Township deputy assessors said Car Report in checking the

But this is a minor problem com- & pared to the question of a dog’s worth. A hound may be the center of affection for the entire family, “But on asessment lists his monetary value ranges from nothing to $100.

In auto valuations the greatest spread . between owner’s and assessor’s valuations are shown.

In most cases, the owner places | the valuation too low, a check of several hundred lists showed. But too low or too high, the figure is changed to correspond with the value listed in the market report. Naturally, the older the auto the less its value. Some 1929 models of cheaper makes usually are assessed at $10 to $15. Late models range to as high as 80 per cent of the purchase price.

Assessments Vary

Sometimes the assessors have more than doubled the owner’s estimate, For example, the owner of a 1933 model listed it at $75. The assessor’s valuation was $160. In another case, the owner of a 1926 model said it was worth $2. The assessor chalked it down at $10. Trucks seem to be a bigger problem than pleasure cars. One owner who. listed his truck at $150 will learn when he pays his tax that the machine is valued for tax pur- - poses at $385. On trucks and trailers the National Car Journal is used to figure the real value, deputies said. De_preciation is computed down to 10 per cent of the list price, they said. Perhaps the “greatest valuation difference was that for a 1930 car in the middle price range. The owner said it was worth $5. The assessor listed it at $65. As far as dogs are concerned, the assessors admit they're licked. The law doesn’t say how to reach a valuation. One man, who listed

it at $5. He’ll pay on that. In another case, an owner said his dog was worth $100, and he'll pay on that basis. In some instances, the owners have told the deputies that “money couldn't buy our dog,” but say that there isn’t any absolute intrinsic value thst can be made. In many cases, the owner puts the value at $1. In a few instances, the hound has -*“no value,” according to the return. The assessors, not being dog fanciers, say theyre trusting the taxpayer to set a fair valuation.

TARKINGTON WINS ~_INKENNEBUNKPORT

KENNEBUNKPORT, Me.; March 8 (U. P.).—The forces of Booth ‘| Tarkington have triumphed over those of Margaret Deland, and this town of authors will retain its present name. The. proposition submitted to the annual town meeting was that the century-old name of Kennebunkport be supplanted by Arundel, the name given the town in honor of the Earl of Arundel when it was incorporated. Mr. Tarkington contended that the present name was “full of character,” while Mrs. Deland thought the “change would: be a -good one.” At yesterday’s town meeting 479

nebunkport.

only a hound on his tax list, valued-

BLINDNESS FOE INCAREER RACE

Youth Studies for Opera Work When Light Finally Fails.

PHILADELPHIA, March 8 (U. P.). — Approaching blindness, culminating 13 years of misfortunes, has failed to dim the courage of David Hartley, 22. Afflicted with an eve ailment which physicians have termed ine curable, Hartley has only a- short time before he becomes totally blind. The youth's voice, a resonant: provides him his single ray o pe. Chief Caupolican, former Metropol. itan Opera star, heard Hartley sing once and offered to teach him... Hartley now spends his time prac ticing how to find his way around in the dark and studying German, French and Italian in preparation for an operatic career. a In his little room at a Y-M. C:A,, here, Hartley draws the blinds on his windows, turns off the lights-and walks around the room. He has

little difficulty in finding f objects. Chief Caupolican told Hartley

that within two years “you ‘will be self-supporting.”

LETTER GOES 3000 - MILES INSTEAD OF 14

rat

FREMONT. O., March: 8 (U" P). —A letter mailed in Bellevue, 0. 14 miles distant, to Dr. Shermah*McKenney, of Fremont, arrived*MNere two months later -after traveling 3000 miles. It bore postmarks of Hongkbhe, Sydney, Auckland, New Zealand, and Los Angeles, apparently trailing Dr. and Mrs. McKenney, who: ware on a Pacific cruise.

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