Indianapolis Times, Indianapolis, Marion County, 28 February 1939 — Page 17

PAG

ON THE RADIO

fis . TONIGHT formation Please.” He is to be given 7:80—A1 Jolson, WFBM. : a second chance to prove he can 7:30--Information Please, NBO, [expert as well as the best of them. 8: 30—Fibber McGee. WIRE. when he. appears tonight at 0 8 :30—Benny Goodman, WFBM. o'clock over NBC. Rex Todhunter hieved fame Bob Burns of the famed Van Bu by inventing a school thrift system ren, Ark. ‘family and that strange

and then passed up commercial life {bazooks, will appear on the Al Jol-|tor g literary career. will join the son program gt 7:30 o'clock tonight |poard’s regulars. John Kieran and over C NFBM. Mr. Burns ‘will

“Pref.. , to face Clifton réplace Pref, Quis, Who had been|madiman's questions.

F diman’ uestions. announced ‘as the guest for to-| Co night's show. & =» »

HoLos DEFICITS | DETERRENT" m U, S. RECOVERY

Bank Report Says Federal Spending Not Permanent Contribution.

"THE INDIANAPOLIS Tims :

RANGE NARROW: WHEAT EASIER | AT CHICAGO PIT

Corn Quotations - 13 Cent Higher to. 13 Cent Lower,

STOCKS CLIMB UNDER LEAD OF STEELS, RAILS

Gains Range to More Than 2 Points; Turnover Is Small.

dn.

Pierce-Arrow ¥ Bows Out With “10-Cent’ Sale

BUFFALO; N. Y,, Feb. 28 (U. P.). —With the exception of proceeds from a “10-cent sale” of odds and ends, books of the Pierce-Arrow Motor Corp. were closed today with unpaid debts listed at nearly two million dollars.

No. 26

Your Federal Income Tax

Consumer May Deduct From Income Report for Gasoline Tax Paid in 1938.

» 2 8 = » Gascline Tax Deduction

If an automobile is used for both business and pleasure, all of the maintenance and operating expenses connected therewith, which constitute allowable deductions for Federal income tax purposes, should be allocated to the two uses on the basis of the time that it is used for each. For example, if the-total expense ||,

. hea = Frank Rusoti, Vicksburg, Mich., &

NEW YORE, Feb. 28 (U. P). —

"Steel shares and rails led the stock

market higher today. Volume con-

tinued small.

gy 2%;

Bethlehem Steel reached 175, up U. S. Steel 64%, up 13%;

2, and Republic 223%, up %. } creased operations for the industry| | "accounted for the demand. Non- | ferrous metals made small gains.

In-

American Telephone & Telegraph

rose to a new high since 1937 at

| 158%, up %. A sizable group of other stocks made new tops, includ-

ing International Harvester, Union

Pacific and Philip Morris issues.

| Railroad issues featured in -ac-

i tivity. New York Central reached 2 sei. up 1. Santa Fe gained 1% to

Chrysler, New York Air Brake, en and? New York Omnibus

rs rose more than a point. Aviations

_ dnum Co. of America. : Cyanamid B was fractionally high-|&

were slightly higher. Oils were

' mixed in a narrow range,

Bonds Gain Substantially

Bonds swung forward for substantial gains on the New York Stock Exchange. U. S. Government issues established new records. Trading was fairly active. Gains in U. S. Treasury issues ranged to 14-32 points, with nearly

"all traded isues at new peaks since

their respective issuance dates. Rails led the upturn in|the. domestic corporate list on gains ranging to nearly 2 points in New York Central refunding 5s. dustrial and utility issues were up fraction-

" Curb Stocks Also Gain ‘Curb stocks scored gains ranging

* from fractions to a point after early “hesitancy.

Aviations were in fair demand. Gains ranged to a point in American Airlines, while Beech Aircraft made a new 1939 high on a fractional advance. ‘Utilities “steadied on early frac-

_ tional gains. After a slow start inahd C

dustrial turnover improve gains ranged to a point in AlumAmerican

er. Con ‘Mining shares were quiet. Price|g

changes were small. Humble Oil was off % points and Gulf fraction-

alyy lower but other shares were & steady around the previous close.

| ® Today's Business At a Glance

Bv United Press GENERAL BUSINESS

Oil & Gas Journal estimates week ended Feb. 25 crude oil outns. averaged 3,333,122 barrels daily, ,161 from previous week. united States Beet Sugar Asso-|F ciation reports January beet sugar deliveries 557,791 bags of 100 pounds

each vs: 1,178,638 year ago; Oct. 1 S to Jan. 31 deliveries 10,989,303 bags g

&¥ ys. 6,113,860 year ago.

CORPORATION NEWS -

en Gl Atlantic Refining Co. 1938 con-

solidated net profit $4,310,913 equal

to $1.40 a common share Vs. $9,935,~ G ham.

045 or $3.51 in 1937. Homestake Mining .Co. and subsidiaries. 1938 net profit $6,940,848 equal to $3.45 a share vs. $7,188,854 or $3.58 in 19317. McKesson & Robbins, Inc. January net sales $12,070,121 vs. $12,132,357 year ago. Ruberoid Co., 1938 net profit $515,472, equal to $1.30 a share, vs. $750,509, or $1.89, irf 1937. Union Premier Food Stores, Inc,

* 4 weeks ended Feb. 25, sales, $1,746,298, vs. $1, 343,410 year ago, up 30|1Sh

per cent; eight weeks ended Feb. 25, sales $3,304,268, vs. $2,599,151 year

. gao, up 27.1 per cent.

United Air Lines Transport Corp. January revenue passenger miles flown, 6,126,671, vs. 6,882,080 previous mont hand 4,372,410 year ago; January express poundage flown, 150,202, vs. 199,848 previous mnoth and 142,346 year ago; January mail poundage flown, 485948, vs. 542,397

previous month and 492, 099 year

ago. - RAILROAD REPORTS Atchison, Topeka & Santa Fe Ry.|N Co., week ended Feb. 25, carloadings, 16,812, vs. 17,961 previous week and 17,371 year ago.

of . operation and maintenance, plus depreciation, for the taxable year amounted to $800, and the car was used three-fourths of the time for business and the balance of the time for pleasure, the allowable deduction for Federal income tax purposes would be $600. If a law which imposes a tax on gasoline shows that the tax is imposed on the consumer and not on the dealer, the consumer may deduct as a tax, for Federal income jax purposes, the amount of the gasoline tax paid by him; but the taxpayer must have kept records "of the payment of such taxes in order that the deduction may be substantiated as is required by the law and the regulations. Federal gasoline tax is not deductible by the consumer. A taxpayer ‘may ascertain whether the gasoline tax imposed by a State is deductible by the consumer or by the dealer by addressing an inquiry to the collector of interna) revenue for his district. In any case where the gasoline purchased is used for business purposes, the tax may be added to the cost of the gasoline and deducted as a business expense; but where that is done, the gasoline tax cannot be deducted separately under the item of taxes.

The

N.Y. 81 OCKS

ian fons ‘ 4 Net High Low | Last Change bott Lah sense y T %

hao. sees 58 8 Tegh 1 3 8 OpPsaow 12 8

1 cp. 2 : egh Pua Stl. 23% 1 NY

Ain PEL 55 A 427, m m Red & BS . 16% Am Roll Mill... 18%

m Roll Mill cv 65a \m Ship Build, 30%

255 35 5 3 et 1 be >»

nn ye A RR eAning ese 21%2

Ses g88BEA

Bald Loco ct... 14% Balt & Ohio.... 6% Bendix Arp oe 28% Beth Stee «32 Beth Steel 7 Es 11414 Blaw Knox . 147% Boeing Air sess 31Va Borden 0 Borg atte ie proving S Briggs Belyn-M R

Butte Cop % Z. M

315

Byers, A . 10%

Calumet & H . Can Pacific ... Cent Aguirre © 220 gr gtd 6 pf 4

Container Cont San

on eins Cont on ei:

oly Crucible St Curtiss-Wr | .... Curtiss-Wr A

TVs . 20Y, 30

CHA

- I East Kodak .. JL 171% Elec Pwr & Lt 11% 11% El Pw & L $7 3 39, Elk-H oal | Eng Pub S..... 109 —F

Davison Cem. . Deere & Co . Del & Hu Dist Sea Douglas

20 73%

1% 10% &

Fair Morse... 40% Fajsfdo, Sug. 24%

Freept-Sul cess 2334

40% 3 : 23%

1H 1 EH Fx

Gen Cable ....

22% 4 1% 28%, 19%

ett i

Sound... 51% 51% |

cone BR

Howe

Il Central . Int P Int P&P 3 0 Int 25 m ‘ot. ih nt ov 4

DHL + +E

I++ &

310 18 23 23%

Rennacots i Lava 38Ys e ‘ Kroger & eee 33%

HHH + Sere.

S| em. Lorillard. f ...15 150 Lou GeE'A I . 1872 18%

| a

or ellan St. engel ........ esta Mach “es

iami a Sh ‘ot’ 1] )y inn Hny B pf. 112 Mont Ward . Mor & Ess

M M Me M M M M

Atlantic Coast Line R. R. Co, NY

January net operating income, $337,-|N ¥ 274, vs. $108,831 year ago. N

* ‘Boston & Maine R. R. Co., January net loss, $21,608, vs. $534, 349 year ago. - Chicago, Milwaukee, St. Paul & Pacific R. R. Co., week ended Feb. 28, carloadings, 16,726,; vs. 17,666 previous week and 16, 679 year ago. Chicago & Northwestern Ry Co, week pnded Feb. 25, carloadings; 11,-

vs. 12,488 previous week and 2

] 2527 year ago. / Delaware, Lackawanna & West-

ern R. R. Co., January net operat-|Bitt ing income, $491, 526, vs. $96,195 year P

ago. International Railways of Central Mmerica System 1938 net income P30,521 equal to 86 cents a common vs. $1,102,428 or $1.20 in 1937. . Louisiana & Arkansas Ry. Co. puary net income $22,576 vs. $16,-

5 “year ago. } Maine Central R. R. Co. January|! net income $42,196 vs. net loss $27,-

329 year ago. “Mobile & Ohio R. R. Co. January net operating deficit $206 vs. net operating income $78,220 year

| New York, Ontario & Western R. R. Co. January net operating deficit $11,226 vs. $45,921 year ago. ‘Pennsylvania R. R. Co. January pet operating income $4,998,796 vs.

$2,241, 760 year ago. . »

SEE FINAL EDITION OF THE TIMES FOR OTHER LATE NEWS AND CLOSING STOCK °

N am orf, > hs 2 a

YNH&H Y NH&Hpf

26 183% eo.0e 12% 12%. -

—

No Pacific

12Y, 64%,

Otis Steel « 12% Owens Ill Gl .. 64s

. . >

Public Ser sees 365% Pullman 3 Pure Oil

+H EEE 4

adio .. acing, ‘oil Bt

sense

Ei"

ave t uit A Ra

By United Press DOW-JONES STOCK AVERAGES

v Month Ago .

°., |2 Years Ago ...

. | 1938

a | 198%

1a | 1936

i B & O 4s 60 CY veces

8 | Czechoslo 8s

rN Fen

.80 INDUSTRIALS Yesterday Week ARO ioocococassssscses. 142.64 Month ARO .c.ceocsse ove00s..143.78 Year ARO iovvciocnosssneess 180.47 High, 19372 154.85; low, 136.42, High, 198%, 158. 41s low, 98.95. 20 Bankoans

tesccece

Yesterday

High, 1939, 34.33; low, 27.98. High, 1988, 33.98; low, 190,

15 UTILITIES ; Yesterday coc.oeceicecccecess 2560 Week ARO <vesocscdacsccassan 24.8% Month Ago s0s00s0isescccccce 23.40 Year Ago © . 19.91

*ét00csesvrobocnvse

High, 1939, 25.60; low, 22. 30. High, 1958) 25.10 low, 15.14.

High oo 461% 70% 28% els ia ese 48%

iH + BN

ve. Tenn Cor 5% Texas Corp Prod 437% ex u ro it Tide W A OI. 13° Transamerica o 6%

18 ..100% i fi S.. . Pr .s 31% oe. 12 13 a

461% 708% 8Ys 211 48% 72 10% 1515 7 25 5 3% 2

terl Prod tew-War tone.& Web... Stiidebaker “ee

sees

18% 100%

Un Oil Al

sh . St ol Ls ee ‘bf.. aii

Vahadium esses 26% Walker (H oe 47% Tosarti Lo Ph a 1% oie

3% 28%

19%

=-$83 iw

est Wheel Steel . Woolworth .... Worthington ...

Xellow Tr .....

a Young Sheet ... 487%

=0.20 0.10 +2.20 40.83

Net Low Last Change

Bh 1

- 1p

+ 3 14

+ %

N. Y. Bonds

BOND PRICE INDEXES 20 20 2 2 Inds. Rails Utils, 86.6 60.1 © 101.2 . 86.3 58.7 100.9 .. 85.6 57.2 99.3 . 81.4 64.9 93.3 944 99.6 104.3 86.7 61.8 101.2 85.6 569 99.1 81.8 70.0 99.7 4.9 47.9 81.3 High .«. vc 95.0 101.2 106.0 Low ...... 80.1 69.3 92.3 High ...., 94.8 1004 106.2 Low, 84.7 103.5

Yesterday ,.. Week Ago ..

Year Ago ..

1939 1939

High ... Low «e0:0e High .... 1938 Low .... 1937 1936

60 Bonds 82.6 82.0 80.7 79.8 99.6 82.7 80.6 83.0 90.7 100.7 81.1 100.2 93.3

(Copyright, 1339, Standard Statistics Co.)

U./8. GOVERNMENT BONDS

Treasury Bonds 3: ios. High Low 194. a. sesanebas 134, 10.4 us 18.4 44 110. 3 1 Y, «106.3

ve 1048 «.105. 3 {2s 1053-49 ....eei. 104.15 2%s 1954-51 .........105.2 105.2 2%s 1959- 3 104.11

Home Owners Loan Bonds

3% 1949-39 102.19 102.19 3s 1052-44 ......... +.107.15 107.156

DOMESTIC BONDS High ov

a 4Y, 1144 108 iz

cose

67% 97% 8%

81; Seaboard na 4s 5 Pes ‘45 5

FOREIGN BONDS > High Low

Argent 4s 72 Feb.) Australia 4% . Bel

Czechoslo 8s i Denmark 6s 42 . German 7s 49 , Jipan 8 3V2s 54 5¢ .. 4

2 . 18% 18%

Last

104. u

102.19 | Ass

107.15

Last|g

a 1077

0 100% 75 75% 10375 25 18%

Stocks

Last |UD Lt & Pw

Abbott Lab :

Asbestos Mf Barl

Ut 1 Utility & Indus Walgreen Co

TELE

2.0%

15-44 YEARS

15 YEARS & OVER

HOW CLD ARE CITY HOUSES?

(U.S. A. 1934-6)

so 91 281s 2774 Honan 77 8 28%

188

CHICAGO, Feb. 28 (U. P)~— Wheat prices moved in a narrow range at slightly lower levels on the Chicago Board of Trade today. Good snows in the Southwest and weakness at Liverpool gave the market an edsier undertone. At the end of the first hour wheat was off % cent, corn up 3 lo off % cent, and oats unchanged to % cent lower. Scattered selling at the opening reflected reports of good precipitation in Kansas, Oklahoma and Nebraska, but fair support developed after the start. Trading became mixed, with prices holding near previous closing levels. The weather forecast was for fair and warmer in Kansas. Liverpool wheat closed 3% fo % cent lower, reflecting the beneficial snows in the United States and precipitation in India. Cash wheat demand was reported to be slow at Liverpool. Winnipeg lost about 3% cent in the first hour. Export demand was reported to be slow, but some business in Pacific Coast Manitobas was said to have been worked. Corn prices were irregular, with some support credited to export houses. Buenos Aires corn was lower at noon, and Liverpool reported a slow demand for Ameri-

|can parcels.

Loctl grain receipts were estimated at 84 cars of corn and 25 cars of : | wheat.

CHICAGO GO GRAIN =

Opening prices today on the Chicago Board of Trade, as reported by. Thomson & McKinnon, were: May July Sept. *

Wheat [email protected] [email protected]

$.68 . @.68% Corn— . [email protected]% .49% [email protected] 273% «2634

Oats— 283% 6b @.46%a .46%[email protected]

Rye— 45b @.45%4a aAsked; bBid.

. WAGON WHEAT ; Ci ain eleva 1 53 fain elev: tors 2 sre Da tog. gash corn, new No. 3 eilow, 43c.

for No. merits. Oats,

LIVERPOOL WHEAT lose Va

83%

a Ya

Fre March, old . cor rif i March, new Sy 59% 0 38% $0. Si $0.1 g > 8

60%

Sin 6212 [62%

.62%

# FREIGHT CAR ORDERS

EXCEED LAST YEAR|;

NEW YORK, Feb. 28 (U. P.)— Class one railroads on Feb. 1 had 6637 new freight cars on orders compared with 6563 a year earlier, the Association of American Railroads announced today. On Jan. 1 there were 5080 new freight cars on order, - New steam locomotives on order Feb. 1 totaled 25 compared with 110 on Feb. 1 last year and with 30 on Jan. 1, 1939. The railroads also had 59_new

order on Feb. 1-compared: with 21 on Feb. 1, 1938 and 41 on Jan. 1, 1939. The railroads in January installed 1020 new freight cars in service compared with 2148 in January, last year, Five new steam locomotives and 12 new electric and deisel loco~

January compared with 27 steam and 17 electric and deisel _locomotives in January, 1938.

Curb Stocks

Net High Low Last Change

Alum Co Am . oe «113 116 . 24%.

++ --

Bellanca Air . Blue Rid; Braz T

PihE rived)

|] +++ HH

ble Oil . 1 Jones & Lau sa 29% Kirk Gold 1% ckheed Air | . 34%, cWms Dredge. 15 Mead Johns ...135 olybdeunm ... 5% Nat P &L Dp 8 N J Zinc N

Un L& PB .. Wiworth Ltd ..

FOOD PRICES |

, Feb. = Meckin

CHICAGO Michigan Potatoes Tennsss 10. a ois

Sweet 3 1. Tomatoes— Cailtflower—Caii5. Peas—Califor-| 8: , - Ce 3 ports Onion market (

orida lugs, fornia crates, $1.40 1s, .90 crates, 50-1b. sacks)— Michigan vellows, 80@90

Wisconsin yellows,

$1.80;

4 Sc; Idaho . 0! 4 rado Sweet 8 anish, 90c@$1.10; Utah Sweet

; Nevada whites, $1.85.

New Business Books Available at Library

The following new business books now are available at the business branch of the Indianapolis Bible Library:

FULL OVERY OR STAGNATION? by Ree H. H son. “Was there some LA necessit in the able efonomie reaction to the Great Depression which set a ceiling to revery?

MIIESTONRS oF MARKETING, B. Ho! tehkise, “The history. rketing constitutes a large or the history of civilization.

ot LIC PLUNDER! A HISTORY GRAFT IN AMERICA, by David Dh ere is no Ind of dishonesty into which otherw ug people more easily and tan y fall than that of defrauding the Government.”

NEN BUSINESS OPPORTUNITIES

FOR TODAY, by S. Kal ope portunity is not dead: it has mere changed its f

RADIO CE ETICE AND BELATED OCCUPATIONS, comp. by U. S. Naonal Yduth Aeon of ‘Ken- . A Study compiled in view of Hd ni 2 !

in Fatur ure + deiosoes

electric and deisel locomotives on |Good

motives were placed in service in|Go

5 a fea on weights, d

5 Le

| 1bs, .| $6@

[email protected]. Tliinois ‘yellows, 50@75¢c: Iowa. veliows, '95c; | $

Federal Judge John Knight yesterday discharged A. Howard Aaron, trustee in bankruptcy for the firm which featured custom-built cars for the ultra-rich, after the court was informed there was no money avail able to pay off general creditors’ claims. In 1918, the firm eniployed more than 10,000 craftsmen’ in 12 buildings comprising its 44-acre plant. Its highly paid, skilled employees constructed deluxe cars ordered by movie stars, presidents and one— made for the Shah of Persia—hacl fittings mounted with gems and solid gold. But demands for custom built cars declined as quality increased in cheaper cars rolling off mass production lines, and in December, 1937, the firm reorganized under the ou 77-B section of the bankruptcy ac 'e Losses continued, however, and today found $9331 cash on hand in the receivership. Of this, $3000 is to be used to pay past administration expenses, and the balance paicl on $20,000 worth of reorganization notes, The plant equipment is being disposed of in a “bargain sale” with prices beginning at 10 cents. ;

HOGS DECLINE; RECEIPTS HEAVY

Vealers Also Show Dip of 50 Cents to Set Top of $12.

Receipts continued heavy at Indianapolis today, and hogs scaling over 160 pounds dipped 10 cents more, while lighter weights held steady, according to the Bureau of Agricultural Economics. Top price on = to 210-pounders declined to $8.15 Vealer prices also showed an easier tendency, prices falling 50 cents to a top of $12. Fat lamb prices worked strong to 25 cents higher, bulk Somprising fed western lambs.

LSpa— (All Receipts are Salable) 2 13 38 S20) Xu oes +3 348 5685

8.35 tid 5 as 10400 835 853 » ’

Barrows and Gilts Packing Sows ang 00

Goo

Bios 276160+ 180 3 7.25- 8.15 350~- i. Jgo1 13 8.00- 8. 20 426- 550.

0 $ 7.80- 1.6 7.68 8.35- 758

hoi i00- 140 § 17. 00- 7. 1.50 edium. 6.25- 7.25

CATTLE (Receipts, 1212) Steers

50 900 $10. 75-12. a = 1 900-1100 2

00. 11.00-12.50 1100-1300. i: 00-12.75

290- 350. 7.40- 8. 00! 4

Pt ft ps tt pt [>] an

Pee! 2 El Ll

50 ..10:50-12, 50 common |S 6.00- 9 00 (Receipts, 525) 20-0. $ 8.00- 0.00 Good ... 7.00- 9.00 5:00 7 00

©o < BoD Babap rn On Owen Q

o® ob QD.

750 500.8 .75-11.00 0900. 8.78- 0.75 8.00- 8.75 6.80- 8.00

750- 900. Medium Jo0- | 900. Com: 550- 00

Stocker Cite Stee

0c 300. 88 .00- 8.95 00-1300. 7.75- 9.00

ediu. + 8 x 7.50 500-1050. . 7.25 6.25- 8.75 Common. 6.50-

81s 5 Good ang or, ice— aa rear 4.25- 5.75 500- 7.50. 735- 8.28 Common and medium. 5.75- 7.28 SHEEP AND LAMBS (Receipts, 2151) ‘ Lambe

4% od a thoica ds 8.25. 9. 00]

7.50

meal $ 7.50- 8. 50| . 6.25- 7, a5

csseees.$ 4.00- 5.00

Good and choice . C cesssses 2.50 4,

ommon and median

x CHICAGO LI LIVESTOCK

Hogs—Receipts, ately active, mostl average; spots,

10,000; market modersteady with da 8 10 cents low sood 230-26 oe ; and vs 7.356 {1 £3 ham, veins Toa: ceivs, zm e—Receipts, : little beef in Pn: rket. si Thi Mo hati wanting cattle hut’ rests Tee Pine ns a8 Ce steers ang yearlings, steady; bu i 11% best weighty fed steers held around

9 @ $13; but little above $12; yearlings, $11.60;

0 oy sausage jers also Siesdy a Receipts,

oday’s to 12 ‘cents

earl $9 Ll, he

OTHER LIVESTOCK

CINCINN Saianie, Na oa ark ket stea 0 or “top: Oso Joriet, Steady, to o8 monip lon: '50@ 7. 25: ate good packing s50Ws,

attle—Salable ae ti Gaives—Salable i eipts. 300 300," Bi 3h oe. D. 08! s 8 an I tradin Sp e tr : few lots light steers ding slow 3 Ln fletn offerings plain to 7.5004 os, $6 iH . $6.50@7 top Veale 313, es giable recs 30 PL - 200. - TU! a fe Western jambs. ay ; steady, dite oes offered early; nd choice trucked-in dinted: $9.25@9. 95: common @9; slaughter ewes, main-

lower, active

9.35: best held $0.55 Qi ss

[email protected] an

28 inte “Zioo! total. Eine hold-

and me Sum, § ly, $2@

PT. WAYNE, kr. Sepis lower: goin nt, $130

. $7.75; 160200 1bs $7.45; HURL 1bs. iy

260-280 st: .15; 325-350 1bs.. $7:

300-325 9,350 160 ips Sis. $7.25; 130-140 1bs., sn; 100-1 %

1bs. Roughs, $6.50; s To g WS. $ stags, $5; calves, $11.50;

U. S. STATEMENT |

an SLR Taba ted] t and recei current fiscal Year 4 receipes Jar is

pared with a yi gh ear Last Cear |

Expenses ,. 3: as. 771.9 Receipts, 43 1,742.81 $4,750,564,514.63

Gold Res..14,854.3

159 Customs .. 324.320.83

207. 331.889; 6 % a5. 333.875.31 INDIANAPOLIS CLEARING HOUSE |

: 1... 64/070.000 ateines +v..163.189 00

SLITS and PLANOGRAPH Prints

eal MArket 4466 » 0;

is | 1939 low (Feb. 9)

|| apolis Bond &

%.89| Eu

bs, | fH $7.30} |

5|| 1104 Fletcher Trust Bldg.

NEW YORK, Feb. 28 (U. P)— The Administration’s practice of incurring huge Treasury deficits in an effort to raise the national income and thus balance the budget is “a deterrent, not an aid, to recovery,” the Guaranty Trust Co. said today. “Adequate explanations forthe sluggishness of recovery are not far to seek,” the bank stated in discuss ing the question “will ‘Government investment’ promote business recovery?” in the current issue of its publication, the Guaranty Survey. “The borrowing and spending program itself, while it may stimulate business and increase the national income temporarily, provides no effective substitute for private investment,” the survey said.

most part to public works and other non-revenue-producing projects that make little or no permanent contribution to industrial productivity and. earning power.” The policy actually tends to defeat its own purposes, the bank contended, by shaking confidence in the future of currency, credit, prices and costs, and thus discouraging private investment. “The crux of the problem,” the survey concluded, “lies in the out-

/liook for profits, which has been: im\|paired in various ways by recent

legislative and administrative policles.” .

|M’KESSON, ROBBINS

SALES VOLUME UP

Preliminary sales figures of McKes-

that January volume of the drug

and sundries divislon-efocal point of the Musica brothers’ operations— showed an increase of .04 per cent over the corresponding 1938 month. William J. Wardall, trustee of the company, expressed satisfaction over || this “encouraging” ing out that the improvement offset

1a drop of 2.05 per cent in the liquor

division’s sales, with the result that McKesson & Robbins’ total volume for the month was only .5 per cent smaller than in January a year ago.

|DAILY PRICE INDEX

NEW YORK, Feb. 28 (U. P.).— Dun & Bradstreet’s daily weighted price index of 30 basic commodi- || ties, compiled for United Press

| (1930-32 average equals 100): || Yesterday

900000000000 00000 0 105.88 Week ago 0000000000000 00000 105.80 Month ago @0000000000000000 0 105.45 YOur 880 .c.ceerscrssneenass 113.55 11939 high (Feb. 25) «coeoe.. 106.15 resvesseses 104.63

LOCAL ISSUES The following. share dors. by, the ® Jndlan. er hy ® but merely

sent actual Bias or o i level

the approximate market

\95 | based on buying an and selling quotations of recent transaction

Bid « Th 51 52 35% 52

Ask 9 54 “daa 54 13 .

Auto Invest Cor

103%

Trogress Pub Serv

0 Van Camp Milk CO cOm..ss..

{| Amer Loan 5 2.4 || Citizens Ind Tel

Srabbe JReynglds-Tayior

0 % ndpls Rai ways Inc 5% 67.. ndpls Wate % 66 [nter Tel & Tre 1 Kokomo Water Krusner Packing Co 4 Mortis 5810 Stores 5% 50. cie Water Wks Bes Noblespile HL&P 67% 9.

Ohio Tel Co Public Tel Co 4%% §S.. 97 Richmond Water Wks 5% 49..103% Seymour Water Wks 57, ..100 1 T Maute Water Wks 5% 100% T Haute Water Wks 6% 49.. 1% o Tract Term Cor 647 Market St Investment’ Corp. . . 24.10 ( P. Crist & Co.)

FOREIGN EXCHANGE

YORK, Feb. 28 (U, P.)~—Following

By M.

‘| NEW are noon’ cable rates on major surrelicies.

Cable Rates .v..$4 687% rate) 4.68% 1-16 Va iolsil

003i —Z.0002% 10003

LOCAL PRODUCE

breed hens, 14¢; heavy breed Jeo 4% Ja. and over ist de ens unbs., Ric horn Barred Tare: 3% ibs. and Wile Bock springers, 1% lbs. and up. 12c; Leghorn broilers, 1'%2 1bs. and over, ile; spring chickens, 3 Ibs. and over, 13c; old roosters, 8c. No. 1 strictly fresh COME run 0 eggs, 13c; each full case must wi ross; a net deduction of 15 cents or each " Fase under 54 lbs. will be ‘made. —No. 1, 38a @ade. 26m gp Ry 23c; No. 2. 2ic. (Prices quoted by Wadley Co.)

ITALY Hearing with the new ‘Western Electric ORTHO-TECHNIC HEARING AID. Powerful, efficient, eco.

nomical operation. Easily, inconspicuously worn.

‘ L1-5088

Wo TIL

s Rented and Repaired

TC ©

“It (spending) is limited for the

NEW YORK, Feb. 28 (U. P)—

son & Robbins, Inc., disclosed today |

‘showing, point-

The nities of cperaling’s a hot dog stand will provide laughs on the Fibber (Always in Hot Water) McGee program at 8:30 tonight over NBC-WIRE. The Four Notes are scheduled to sing a Billy Mills arrangement of “Chop Sticks” and Tenor Don Novis will do La the Fluter’s Ball.” od 2 #

“American Viewpoints,”. heard over CBS-WFBM each Tuesday and Thursday at 9:45-p. m., has turned to education and educators this week in Cleveland, where the annual conclave of the American Association of School Administrators is being held. - Seven feature programs of Columbia’s Department of Education ‘and Talks have been co-ordinated to participate in the A. A. 8. A. sessions this week. Dr. John. A. Sexon, association president, adopts the conclaves theme, “Foundations of Education,” for a talk tonight at 9:46 o'clock. 8 2 2

Benny Goodman will demonstrate his anything-can-swing policy tonight on his regular Swing School session and hopes to interest even mother and father by playing an oldie, “In the Shade of the Old Apple Tree.” The program will emanate from the Fox Theater, Sirol, at 8:30 P. m. over CBS-WFBM

Heywood Broun, Times columnist, confessed to a case of mike fright

mill worker, and four persons who earn their livings in peculiar océupations, are to be among .the guests on Gabriel Hatter’s We the

People broadcast tonight at 8 p. m over CBS-WFBM. Mr. Rusoti, a mill worker, recently renounced an Italian fortune rather than forfeit his American citizenship. Edward Xiques will recount laughable in= ° cidents in his job of camouflagitig, black eyes. Eddie Jones, who often’ is called upon to supply worms when" a cinema director finds script calls" for chickens to scratch for worms, promises - some amusing moments. Scrawls on telephone pads ahd tablecloths point to significant facts about “doodlers” personalities con-, tend Miss Dorothy Hoffman and’ Miss Jane Butler. They will tell the, radio audience all about it tonight;,

2 ® 8 = > Patsy Kelly and Bill (Teeth) Goodwin's radio romance may suffer a reverse tonight when Dick Powell. appears as guest artist én the Bob Hope program at 9 p. m. tonight over NBC-WIRE. Listeners may" get a preview of what Mr. Powell”

will do when he stars on his own * new program in a few weeks. g

» 2 ” L <i Works of modern American and.

‘|Italian composers are included. in -

the program arranged by Fabien: Sevitzky for a broadcast by the Ina. dianapolis Symphony Orchestra at.

en he appeared Dec. 20 on “In- ® 2

(The Indianapolis Times ts

INDIANAPOLIS M 1230 (CBS Net.) ues. Before Senate I. U. Program unes Light O

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Easy Aces Varieties Walter Shead

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2 p. m. tomorrow over CBS-WFBM. a 8 Tia

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WEDNESDAY PROGRAMS

(NBC-MBO)

Woman in White

Editor's Banter

porter Voice a a.

Daughter

ropress, Parade

Backstage Wife

I. 0. Program - Minute interviews ZaZoo

Crumit-Sanderson Fibber McGee

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Time to Shine Peter Grant Chuck Wagon

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Story Hour Se etime

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Charlie Cook "Boy Greets Girl

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Betty & Bob Grimm s Daughter Valiant Lady

Betty Crocker

Food Quis Grofe’s Or. Shut- In Friends Bandbox

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Swing Concert Abravana Home Folks

Legislature Hannah : Zoology Terry & Pirates Jack A¥metrong.

Old Refrains Paul Sullivan

Hawaiians

KEY NETWORK STATIONS (Subject to change)t NBC-BLUE—WJZ, 160; WOWO, 1160; WENR-WLS, 870; KWK, 1350. ° NBO-RED—WEAF, 660; WTAM. 1070; WWJ, 920: WMAQ, 670. a .CBS—WABC, 860; WIR, 750; WHAS, 820; KMOX, 1090; WBBM, 770, MUTUAL—WOR, 710; WHK, 1390; WHKC, 640; CKLW, 1030; WSM, 850.

CAN YOU GIVE YO

@® The manufacturer, business man or property owner who delays—through friendship, habit or misinformation—in finding out the facts about Mutual Insurance is giving his competitors a' comfortable handicap. Perhaps you can afford to do that. Perhaps you have, such a lead on the field that considerations of economy or increased protection against fire hazards (and loss

GRAIN DEALE MUTUAL FIRE |

Home Office: In

: 1740 North Meridien Street

> HOW MUCH HANDICAP

of customers and tenants)

GRAIN DEALERS TIAL AGENCY, lnc.

UR COMPETITORS?

can have no effect upon you But few individuals or coms paniesarein suchanimpregnable position* If you need the competitive advantages that you can le gitimately acquire, we suggest that you consider the advantagesof Mutual Insurance. The resident agency listed below offers you the service and facilities of “Grain Dealers Mutual ’—one of the couns _try’s leading mutual insuss ance companies ;

RS NATIONAL NSURANCE CO.

dianapolis, Ind.

Harrison 3008