Indianapolis Times, Indianapolis, Marion County, 1 March 1939 — Page 19

GOOSE AND| | GREMHOUND BUS, ;

ON THE RADIO

TONIGHT {WIRE will begin Wroadeasting | com- : :30-~Tommy Dorsey, WIRE, [plete sectional basketball scores '7:30—Paul Whiteman, WFBM. . |from all over the state. Scores will ’ 8:00—Fred . Allen, WIRE. be given twice a day. The regional 8:00—Star Theater, WFBM. broadcast will be from Anderson

~ CHICAGO WHE IT HELPED BY RISE

Nour F ederal Income Fox

Tips, If ‘Reasonable in- Amount,’ May Be Deducted as Traveling Expense.

"= Production in first month : of each year BEA = Tolal Production in each year

LOWER MARKET

« Rise Follows Report New,

York to Buy Traction. - Lines, Plant.

NEW YORK, March 1 (U. P.).— Brooklyn-Manhattan Transit. issues advanced to new highs for the year today on announcement that New York City had agreed to buy the company’s traction lines and power

plants for 175 mililon dollars. Other sections of the stock list turned lower. Trading was light. Brooklyn - Manhattan common ' reached 137%, up 13, and the pre-

ferred 4314, up 4. The bonds turned |

active with gains above 4 points. Steel shares turned down with Bethlehem off nearly: a point. -Douglas led a decline in aviation with a loss of more than a point. Chrysler lost more than a point. Utilities and rails turned down small amounts. :

‘U. S. Bonds at Record Highs

Moderate buying interest lifted 'U..S. Government bonds to new record highs in early trading. Prices started slightly higher and moved forward progressively

through the first hour as limited

demand disclosed a lack of offerings.: Early gain ranged to 14-32 -- point in Treasury 2%s of 1962-58 ‘at 1041-32, All but a few traded bonds established new highs Since their respective dates of issuance. Rails were: outstanding in a dull and narrow moving corporate list. "Boston & Maine 5s of 1955 were up 1% at' 35, Illinois Central -4s of 1952

gained a point: at 60, and New York (2% Chicago & St. Louis 4s, selling |

ex-interest, rose a point to 54% Utilities recovered after a Ahi tant opening and worked fracfjonally over previous closings. Marion Steam Shovel 6s featured a generally steady industrial list with a 2-point gain at 82.

Curbs Irregularly Lower

. A Curb stocks were irregularly low- 4th F Corp -...

Aviation Corp. .

er in light dealings. ‘Aviations met pressure. Losses ranged to more than a point in Lockheed Aviation. - Industrials improved. . Niles Bement Pond had a major fractional gain. Amn Co. of America was up ? Minnesota Mining & *Manufacturing rhade a new 1939 high on a 1-point gain. Other shares were neglected. Utilities generally were steady around the ous close. Oils|cC .were. mixed in a narrow fractional range. 3

# 2

no.

amount.

not deductible.

expense. -

trip is on business.

Deduction for Traveling Eopenses To obtam a deduction for traveling expenses, which form an important item in the returns of many taxpayers, certain regulations must be observed. The taxpayer is required to attach to his return a statement showing the nature of business in which engaged, number of days away from home during the taxable year on account of business, total amount of expense incidental to meals and lodging, and total amount of “other expenses” incidental to travel and claimed as a deduction. Among the SStaer expenses” are ti ps, provided they are reasonable

Traveling expenses are. deductible only when the They are limited to such expenses as are reasonable and necessary in the conduct of the business and directly attributable to it. Traveling expenses incurred in connection with a journey tc another city to accept or seek employment are Suburbanites who commute daily from their homes to their places of business are not permitted to deduct the cost of irapsporiation, it being a personal

Claims for deduction for traveling expenses must be substantiated, when required by the of Internal Revenue, showing in detail th nature of the expenses incurred.

ommissioner. amount and

N. Y. $1 OCKS

By United Press

° : see fins

Low |Last

a Jun ....

Cal Packing

Can Caterpillar Celanese

Bald Loco she, . Ohio. .

Balt & & Op Barber Asphalt Havuk ‘Cig 203;

Bigelow San ... Blaw-Knox . Borden Brew Cp Am Budd Mfg

17%

Pack pf... - 48%

Pacific

Cal

Today's Business|;

At a Glance

By United Press GENERAL BUSINESS

C American Petroleum Institute reports week ended Feb. 25 crude oil |g

output. averaged 3,328,850 bbls. daily,

Colgate ot Col Broad A

Column Gas ...

Com Credit . Com SO!

up 4550 from previous week; gaso-|Gont

line stocks 84,597,000 bbls, up 1,522,000. Lo Edison Electric Institute reports

week ended Feb. 25 electric power |SHicios

output 2.225,690,000 kwh., up 9.6 per cent from year ago Vs. 2,248, 767,000 kwh., up 92 per cent from year ago in previous week. The Iron Age reports steel ingot output this’ week up 1% points to 552 per cent, high for the year.

CORPORATION NEWS American Radiator & Standard

Sanitary Corp. and subsidiary and E

affiliated companies 1938 net loss $424,077 vs. net profit $7,205,510 in 1937. American Stores Co. 1938 consoli- |& dated net income $57,627 equal to 4

cents a share vs. $495,634 or 38 cents |J

in 1937.

Deere & Co ... Douglas Air A Dow Chem ....

East Kodak .. Baton Mig .... 2

Wr Curt Wr A ..

3 . 23% 2% 16

Del & Hud .

fm 113 1 52

American Telephone & Telegraph SEE

Co. 1938 net income $152,428,028

equal to $8.16 a share vs. $179,815 G

or $9.62 in 1937. _ American Tobacco Co. 1938 net income $25,435,643 equal to $4.89 a share on combined commqn and common “B” vs. $26,197,493 or $5.03 in 4937. ward G. Budd ‘Manufacturing Co. 1938 net loss $1,482,442 vs. net profit $1,219,423 in 1937. Budd Wheel Co.

1937. Diamond Match Co. 1938 consoli-

dated net income $2,073,862 equal to!

$1.67 a common share vs. $2,111,959 or $1.73 in 1937. Puke Power Co. 1938 net income $4,207, 150 equal to $4.23 a common share vs. $4,660,474 or $4.59 in 1937.

Fairbanks Morse & Co. 1938 con- Lehman

solidated net profit $558,539 equal to 83 cents a common share vs. $2,148, 431 or $3.45 in 1937. Lambert Co. 1938 net profit $1,2, 798 equal to $1.71 a share: VS. $1,152, 187 or $1.54 in 1937. J. J. Newberry Co. and subsidi-

aries 1938 net income $1,792,742 vs. M

$2,255,454 in 1937. Royal Typewriter Co. quarter ended Jan. 31 net profit $543,155 equal

$1.91 year ago. i Chemical Co. December quarnsolidated net profit $667,014

119 or Vic ter c

: a to 95 cents a ‘share vs. $831,~ N

116 or $1.26 year ago.

Victor Chemical Works 1938 net|y

profit $730,092 equal to ‘$1.05 a share vs. $703,087 or $1.01 in 1937, Warren Foundry & Pipe Corp. and subsidiaries 1938 net income $281,052 equal to $1.64 a share vs. $567,911 or $3.31 in 1937.

and subsidiaries 1938 net profit $303,675 equal to $1.52 a common | share vs. $784,743 or $146 in 1£37.|

RAILROAD REPORTS |

Chesapeake & Ohio’ Railway Co. week ended Feb. 25 carloadings 20,136 vs. 20,413 previous week and 17,129 year ago. ~ Chicago, Burlington & Quincy ailroad Co. week ended Feb. 25 carl dings 13,092 vs. 14,142 previeek and 12,232 year 250,

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

Hall Print Homestake

Kroaor G &B..

Marine Mid ...

Mullins pf ....

t North pf...

G Greyhound Cp.

veer 11% 15% . 9

Bay M&S. 34% 1%

Hu Hupp Motor ...

Il Central .... 1938 net loss I $460,670 vs. net profit $618,991 in|.

Int T&T For...

C Sou pf snriecolt shies inn A lo 31

23 38% 41 17% 9%,

eve A 54%

vous

12%a 10% 15%,

9% 4% 3%

55 28Ys a’ 28 Ya 081 11

1 1%. | 1 0-40

20% - 28%;

T2Y, 18

3 52

11%

15%,

Ske

247, 31 23 25% 41 17% 12

5514

54%,

287% 5

37% 12%

15 7% . 52 39%

Nat Biscuit . to $1.77 a common share vs. $579, N :

n .. 78. « veies 1202

o Pacific

‘Nei Qunidas, ah ; fomPr

Westvaco Chlorine Products Corp. E

AVERAGE JAN.-NOV.

1924-29

5.26

4.19

28% 5 37% 12% 15 7% 52 39Ya 25%, 14%

18% 12%

19% 64%

8 4Y,

9% 1

105% 11 8%

34% 1%

18Va

23 25% 41 173 9Y2 55s 54% 28%

9 Ye

19% 64Y2

33 iA 1% 11% 2

9 11% 2212

1% :-

Net Change

Un L &PB .

| Yesterday

. : % [Yesterday ..........c0ce..

Reyn Tob fonfeld ot il: A $

« |Seab'd “Air L..

%] Sym-Gould xw.

%|Alum co A ... A Air

Customs

DOW-JONES STOCK AVERAGES

.. 30 INDUSTRIALS Yesterday .....cccice.000004.147.30 0.08 Week ARO .i...ocrsvseeeccace Holiday Month Age ..coceivoosesssss. 142.43 —1.38 Year Ago cesessesss-129.38 —1.09 High, 1989, 154.85: low, 136.42. High, 198), 158.41: lew, 98.95. 20 RAILROADS

esses seen

Yesves en

32.48 10.87 Week ARO :..cocenncnsoscosse Holiday Month Age ...... besecass vere 29.38 —40.30 Year Ago i....:cveoereecsess 29.71 0.31 High, 1939, 34.33; "low, 27.93. High, 1933, 33.98; low. 19.00. 15 UTILITIES . 25.85 40.25 Holiday 23.27 —0.13

Week AZO c.o.oven Month Ago. ....... Year Ago High. 1939. 25.85; Tow, 22.30. High, 1938, 25.19; low, 15.14.

ossescpnes

’

Net Last Change + Y ui Ya 38 Ys

High ..1023%,

Low Phil Morris .

oe - + -

Re dis f N.. : +n adio p 2 Radio-K-Or ... 2% * Rehublle 5 + Ya + %

3. 38% 9% 9 3 hoes + Ya x

30 Por. R Sug.. South Pac ....

outh Ry ouith Ry »f.. Spalding

tudebaker [ shine. Min

Tegas corp Tex ‘Pac Thompson Pr . Timk-D Lok 30th CentTwin Coach ..

- 43% 12

2714 * 157;

. 10%

Union Carb Un a

Un Stores

Waldorf Sys ... Warner Bros .. Waukesha Mot. Wayne Pump 'Wes* Oil & 8 W Pa El . West Auto S .. Westing El .... Westvaco ..... festvaco 5 pf . 31 vil Ovrind Por. 5 Joolworth Jee 4 Worth pr®pf .. 331%;

SB Nhe ERs NA

1 Ba

5% 48% 33%

49,

—Ye Young Sheet .. 49%;

Curb Stocks

. Net . High Low Last Change 116%; 116Ya 116% + Yi 24% 24% 3» ve

82 3,

Pi a

U.S. STATEMENT

- WASH NGTON. March 1 (U. ernment ex ses and receipts a, the current fisca Near JHrougn Feb. 27, compared with a year 8g0 This Year Last Year

..$5,667,219, ig 21 $4, rgd 833, 25 64 4.69 3 461 033.81

2% 2% 2% Ya

P.).—Gov-

ExDehads

241. €71,035,032.61 12,774,329.595.76 eth 300,514.57 262,651,838. 34

INDI ANAPCLIS CLEARING | HOUSE

LESS COTTON EXPORTED

phululuiots

7.39 MILLION BALES

Shull a whalulada

FROM THE u. S.

‘aie “a fay

-11936 11936 Low -... 77] (Copyright, ‘1939, Standard Statistics Co.)

5 | B&O ref 5s A 95 ..

A | Cons Edis, 3VYs 46 4s 52 69 1 N Y Cent ilos 2013n .. 2

: Sunstrd Mch T '. wift & Co

AT OUTSIDE PITS

Quotations 3 Higher Than at Close . Yesterday.

CHICAGO, March 1 (U. P.) —Higher outside markets encouraged mcderate buying of wheat on the Chicago Board of Trade today. At the end of the first hour wheat was up 3% to 42 cent, corn up % to % cent, and oats %: to 14 cent higher. A strong closing market at Liverpool and firmness at Winnipeg were responsible for commission house buying of wheat, “after a steady to firm opening, Liverpool, %1oked 1% to 7% cent higher on late covering. Winnipeg was up % to 3% cent at the end of the first hour. May wheat was Inclined to lag in early trading in the local market,

upturn in the other futures. It was reported from Buenos Aires that negotiations were complete for the sale of about 7,400.000 bushels of wheat to the Spanish Nationalist Government. North American ex-

port business was reported to be

slow overnight. = The weather map showed geherally clear weather in the grain belt, and forecast fair and warmer in the winter wheat area. The Government report indicated some improvement in winter wheat prospects in the past week. Corn prices were aided by firmness in wheat and by god shipping sales of cash corn estimated around 107,000 bushels. Purchases of corn on to-arrive bids totaled 20,000 bushels. Shippers said 60,000 bushels sold were for export. Local grain receipts included an estimated 90 cars of corn and 16 cars of wheat.

CHICAGO GRAIN

Opening prices today on the Chicago Board of Trade, as reported by Thomson & McKinnon, were: jw ay Sept. 6815 @. 68%. 8.681 ass $.6914 ho. 49 50% H0%8 28% Fe esos

YO I5%@.45%b .46%s aAsked; bBid.

Oats—

WAGON WHEAT -

City grain elevators are paying for No. 1 rea, 63c; other grades on their merits. ah corn, new No. 2 yellow, 43c.

LIVERPOOL WHEAT High Low Close v3 1% $ .607% $ .61% ‘ 59% 58% 597 83% 63% 61 1613 .62% 6314 Bonds - BOND PRICE INDEXES 20 20 20 . Inds. Rails, Utils, Yesterday ..... 86.8 60.5 101.4 Week Ago .... 86.3 58.7 100.9 ‘Month Ago .... 86.2 58.4 99.9 Year Ago 81.3 65.0 93.5 Two Years Ago 94.4 99.7 104.8 1939 High 86.8 61.8 . 101.4 1939 Low ..... 85.6 56.9 99.1 1938 High ..... 87.3 70.0 99.7 1938 Low ..... 74.9 479 81.3 1937 High ..... 95.0 101.2 106.0 1937 Low ..... 80.1 69.3 92.3

High ..... 94.8 100.4 106.2 . 90.0 84.7 103.5

Prev. Close $ .61 58% 63% 61 62%

March, old $ ,. ne

. 60 Bonds

82.0 81.5 59.9 99.6 82.9 80.6 83.0 70.7 100.7 81.1 100.2

U. S. GOVERNMENT BONDS Treasury Bonds High

5 1945-43 .....:... 110.7

104.22 104.22 107.22 107.22

DOMESTIC BONDS High ° 22 2 98%

Int T&T 69% N Y Cent cn 4s 98 .... Penn RR 4%s D 70 .... Rich Oil cv 4s 52 .. Seab Air Lin 6s 4

| United Drug 5s 53 .... 74

Warner Bro 3s 32 Young S&T 4

ait BONDS

Argent 4's 71 ... Australia. 5s 57

5 . Italy Pu uel 1 52°... Italy Ts Japan S1as 65

De MB? Chi Stock icago Stocks | Hieh Last sess i 5% nv 19% | 9 191% 19%, 8%, 8Va Ve Nava Ya ~15 17 178 3% 2 6% 21Ys 5 34 18% CORY

Sonsum Deere & ot . Harnischfeger . Hubbell Har ... HN Cent RR .........

oe Chem Nat Standard © Quaker Oats .... re Mfg . Rollins Hos . Stan Dredging

Teility & Indus a Walgreen Wisc Bk Shrs

LOCAL PRODUCE

Heavy hreed hens, 14c: heavy breed broilers, 4%; 1b, and - Sonert 1k i over, 13c; Dens un Barre

Tie ring chickens, 2 ibs, and “over, 13c: ‘old roosters, 9c. No. 1 strictly fresh Sgunizy run eggs, 13c; each full case must weigh 54 lbs, oross; a net deduction of 15 cents Jor each full case under 54 lbs. w n be. - Butter—~No. 1. 281% om 26%c. Butterfat-—No. 3c: Noo. 2, 2lc. (Prices quoted” I Wadley Co.) r—————————————— a

FOOD PRICES

CHICAGO. March 1 (U. P.).—Apples— Michigan Mackintosh b Sweet Ppta toes—Ten nn winer $1 Sha 5.

—Tllino an ellos, Too asy Wi low we, id ho Sweet nl (

WASTE PAPER

AMERICAN PAPER

to" 1, Cent |

but fair support developed on fhe

Oats, Medi

ows 1Good ....

82.91:

93.3

107.22 | s¢

Last | dow 2

91%

§a.35; 417.25;

calves receipts, 3 mostly Slean-up on light supply, "steers : e!

@ ’ n practical top bulls,

7 dealers. in New York during “the ‘week ended Feb. 21 amounted to 640 iz | million dollars, a decrease of 20 mil- |; lion dollars from the week before 1734 {but 62 ‘million dollars more than for |] " |the same week last year. Other loans | Ohio

‘{lars less than for s.|a year. ago.

Th —.— 1928 EE 50 Milions”s of Gross Toor

TOP HOG PRICE RISES 15 GENTS

Advance Brought by Dip in Receipts; Vealers Off 50 Cents.

Receipts fell of from the high levels of the last few days at, Indianapolis today, bringing a rise of 15 cents in hogs weighing 160 pounds and over, according to the Bureau of Agricultural Economics. Top price of 200 to 210-pounders rose to $8.30. Lighter weights held steady. Vealer prices showed a weakér tendency, dipping 50 cents to establish a top price of $11.50. Hardly enough lambs showed up to test values accurately. There was, however, a weak to lower undertone to trade.

(All Receipts Are Saleable) Top Repts. Li Top .$ 835° 4513 we -8.25 5 35 5531 £4) 8.15 5635 March’ (Ter ‘8.43 1200 1. .-8 8.30

Barrows and Gilts od and

Repts. 10,000 5013 Reps: 2958

Feb. 22 .. 23 ...

24 ... 2 Packing Sows

275- 350. $ 7.55- 17.75, 3 425. 7.30- 7.65! 6.85- 7.40!

. TN5- 81 290- 300. 7.45- 7.90 Medium.. 6.50- 7.2

CATTLE (Receipts, 3 Steers 4

Choice— All Jd Du 750- 900 $11.00-12.35/"G'd Ente. 00- 7.50 900-1100. '11.50-12.75 6.50- 7.2 1100-1300. 11.50-12.75 : Good— 750- 900. 9.25-11.25 900-1100. - 9.50-11.50 1100-1300. 1300-1500.

ghts— ..$11.00-12.00 10.00-11.00

an - common 54 5.50- 8.50 Shes (Receipts, 425) 250- 400. $ 3 00-° 3.8 Good 1.00- 9.0 Medium’. Common Fee

nd Se Cattle Steers

00 . mon Plain— - 900. -7.50- 8.75

. Heifers Choice— 750- 900.8 9.75-11.00 8.75- 9.75 8.00- 8.75 6.75- 8.00!

Good— 75)- 900. Medium— 550- 900.

Cormmon— 550- 300,

Gog 500900 21300. Medium— 500-1050. . Common.

$8 .007.75 n.50 Yooe 7.00 6.50eifers

£50 Good and Choice— 5.75/ 500- 7.5Q. 17.25- 8.25 Common and medium. 5.75« 7.25 SHEEP AND LAMBS (Receipts, 765) Lambs

Good a Snealum. $ 7.50- 8.50 omm 6.25- 17.25

Medium . Common . Low cutter d cutter 4.25-

‘Good and choice. .$ 8.75 5.00,

soesesse.$ 3.75- 4.50

Good and choice In

Common and medium Toes sass

CHICAGO LIVESTOCK

gg 6000; - market, ackiye: than Tuesday; top, $8.3 180-230 ES 108 8.30: 210-250 1bs., $7. LT 10: 290. aS 1bs. 60@ 7.85; medi pueight and heavy ‘packing SOWS, Cattle—Receipts, 7500; calves, 1000: earlings mostly steady, ‘steers steady, to Wi ood to psa choice kinds show- : Jargely steer run killing _ mostly Sholce. top, $13.65 Y iid $12.7 Jeariings; . 2 market; sizeable Tun fed Nebraska and Colorados here; several loads selling early at sik [email protected]; heif- | ers steady, mostly ‘$8.2 @9.75: best light efers $10; vie 8 aban heifers held well above $11; cows steady to Noaki cut oat bulls on Sausage 0

ost ‘decline!

Sheep—Receipts, 6000; late Tuesday fal : 15¢ lower;

k ing $8.75@9; best held. $9.10@9. 1s and above: sheep about ut steady. :

OTHER LIVESTOCK

CINCINNAT, March 1 (U, P.).—Hogs— Receipts saleable, 2000; total, 300 mars, fairly actvie, generally Y 250-213 ibs. 38; 100-140 1bs., i. 306 bulk Toor Sa ng Sows, $6.25 Cattle—Receipts saleable, 350; a oar saleable. 400; total, 400;

and fers steady, but under pressure; truck load good to choice 820-lb. ted heifers, $9.75; plain to good beef Sows, o3¢ : low cutters ang Suiers, $4.50 @5. top vealors, $12. Sheep-Checeinly. salcabe, 00; total market, steady o Light , Supply around nw head choice 80-1b rucked-in clipped | , 89; little else ick early; good d choice wooled native lambs quoted ?189. [email protected]; slaughter ewes mainly $2@3.

WAYNE, March 1 fi aricet 20¢ higher; 200-220 1 240 1bs., $7.95; 200 1bs., 3; P50. 280 0-47. es: 28 300-325 Ibs., $7. 35: 335-350 1b 5 160 lbs.., $7.45; 120-140 Ibs., $7.20; 100-120 | ., $6.95; rhe $6.50; ee 5. Calves, $11. 50. Lambs, $9.

P.).—Ho| ., $8.10; °8%0-

1bs., $7.50;

LAP rch U. PB) —Hogs— Market YS @a0¢ pro 200. 220 1bs., $8. Hoa 8.20; 220-280 lbs., $7.80@8; 300-328 bs. 5 $7 .50@17. 65; 160-. 200 lbs., $7.90@ Dies. $7.50 down; roushs.” 57 down. Chives, $10. @1l1l. Lambs, $8.50@9

LOWS TO BROKERS, DEALERS DECLINE

WASHINGTON, March 1 (U. P.). —The Federal Reserve Board reported today loans to brokers and

for the ‘purchase of securities amounted to 188 million dollars, an

240-260 1bs., |] nd 3: 20; 140- |]

MERGER ASKED

y Eastern Line Would Be Sold

- For 145,000 Shares of Stock.

DETROIT, March 1 (U. P.).—The Blue Goose Bus Line will be added |’ to the Greyhound Bus System if the Interstate Commerce Commission approves, officials of the Eastern Michigan Railways said today. The Blue Goose system, owned by Eastern Michigan Railways, would Ibe sold for 145,000 shares of Greyhound stock, P. T. Hanscomb, chairman of the bondholders’ committee, said. A reorganization plan for the E. M. R., approved here by Federal Judge Edward J. Moinet, would provide for formation of a new company, the Eastern Michigan Trans-

‘|portation Co., with issuance of 99,-

306 shares of common stock. If would dispose of a $3,500,000 firstmortgage bond issue, a lesser adjustment mortgage bond issue and $650, in unsecured claims. The Blue Goose Line, principal asset of the E. M. R., would undergo only a few changes if taken over by Greyhound. Eastern Michigan Railway officials said Greyhound has an informal agreement providing for the Blue Goose transfer if the ICC approves.

APPROVE MERGER FOR GAPEHART, INC.

{StockRolders Okay Acquisi-

tion by Television Firm.

. FT.. WAYNE, March 1 (U. P.).—

|| Stockholders of Capehart, Inc., to-

day had approved acquisition of

|| the: Capehart concern by the Farnso worth Television & Radio Corp.

The action was taken at the annual stockholders’ meeting yesterday. The transaction, which officers of

yolve any cash consideration but is sconsolidation of stock of the two 5|firms, is expected to be completed within the next 30 days. E. A. Nichols, an official of Radio Corporation of America the past 25 years, has resigned his RCA post to assume presidency of the Farnsworth Corp. Charles M. Niezer was re-elected

' president and chairman of the

board of directors of the Capehart company at the meeting yesleruay,

VOICES OPTIMISM DESPITE INCOME DIP

PITTSBURGH, March 1 (U. P.). —Mesta Machine Co. today reported net earnings of '$2,909,957 equal to $2.91 a share for 1938 compared with $4,668,029 or $4.67 a share in::1937. Business of the company has continued to improve in the first two months of this year, Lorenz Iversen, president, said. He added that he looked forward to the year with considerable optimism _because of the present backlog of orders on the books and prospects for an increasing volume of new business brought about by the uptrend generally ‘expected ‘in the steel trade. The company manufactures rolling mills’ and other heavy equipment for the steel industry and miscellaneous steel products.

DAILY PRICE INDEX

NEW YORK, March 1 (U. P).— Dun & Bradstreet’s daily weighted

: price index of 30 basic commodities,

compiled for United Press (193032 equals 100); Yesterday ......vseeceriee.. 105.90 Week 880 ..cccovesoscsesssss.HOlidy Month ago ....sceeec0000s.. 105.65 Year 8g0 .......ss0s0000000s 113.74 1939 high (Feb. 25) .eee0e... 106.15 1939 low (Feb. 9) ........... 104.63

- LOCAL ISSUES

the IndianJo not reprebut merely

' The jollowing share. Corp.” b apolis Bond & Cor sent actual bids or offer indicate the approximate Rad rket level based on buying and selling quotations of recent transactions. Ask

Auto Invest Cor 9 54

Progress Laundry Co com.. Pub Serv Co of Ind 3% pid. . Pub Serv of Ind 7% pid.. 0 Ind G&E 4.89% oa. I' Haute Title lee, Go com... T Haute Elec Go pfd Van Camp Co Van Camp Milk Co com...,,. Bonds Amer Loan 5s 46 veesess 95 Citizens Ind Tel 4's 61. .102 Crabbe Reynolds-Taylor 5s 42. 92 Home % 103 Home T&T Ft W 6% 43......104 Ind. Te! S% 65 105

. 60 10

el Co Bible Tel Go - 4%, 97 Richmond wat ter Wks 535% 49..103%

increase of one million dollars from the week before but 24 million dol- | e same week,

Seymour Water Wks 59% 49..100 Haute Water Wks 5 100 T Haute Water Wks 6% 49. sei], Tract Term Corp Market St Investment "Corp. . 24. 5 (By M. P. Crist & & Co.)

FOREIGN EXCHAN GE

-NEW YORK, March 1 (U. P.).—Following are “ogn cable rates on major gure |

rencies: Cable Ly (

TONIGHT!

RADIO'S NEWES]H CR BRIE

| Every Wednesday Evening

9:00 WFBM

the show will be broadcast over

i" Lyric Theater in Indianapolis. Mrs.

the Capehart firm say will not in-|,

Hoagy Carmichael and Hoagy’s mother will be guests of Tommy Dorsey at 7:30 o'clock tonight when

NBC-WIRE from the stage of the

Carmichael, who gave Hoagy his first taste of a musical career, will play “Mapleleaf Rag” in what her son terms a “mean” style. This is Mr. Carmichael’s second guest appearance with the Dorsey band; he was with them Feb. 15.

» » ”

Starring in “Processional,” the Star Theater's choice for tonight's performance at 8 o'clock, CBSWFBM, will be Constance Bennett. Kenny Baker, singing star of the show. will have a dramatic role in the play by John Greene. The play is the story of a mother’s sacrifice to further her son's musical career. Mr. Baker will sing “To My Mother” during the dramatization. % 8 = A verbal picture of the scene outside the Vatican as the Conclave of Cardinals meets to elect the new Pope will be broadcast over CBS at 5:30 tonight from Rome by William L. Shirer, the CBS Central European representative. :

and the semifinals from Indianapolis, Coach Ward (Piggy) Lambert, Purdue -University, and George Gardner, athletic publicity director at Indiana, will handle the play by-play tournament accounts. ® = = ; - Peter de Rose’s original concert, arrangement of “Deep Purple” will be featured by Paul Whiteman and his orchestra on “their program at 7:30 tonight, CBS-WFBM. An individual arrangement of “Way Down Yonder in New Orleans” will" be the Modernaires’ offering, while Joan Edwards, soloist, will present “After Looking at You” and “Pens ny Serenade.” Clark Dennis, new tenor discovery, will sing “All the Time” from “Stars In Your Eyes.” ‘® x = - Impersonating an automotive tycoon, Fred Allen will be one step ahead of the motor industry at 8 o'clock tonight, NBC-WIRE, when he brings out his 1940 model Ding= bat Eight. It seems that Mr. A. will turn out these industry-reyolu-tionizing vehicles at the rate of one per second—but with disastrous Te=' sults. His “person you didn’t expect: te meet” will be David Kline, a real “umbrella man” who sharpens knives as a sideline, and has been.

Starting at 4:15 p. m. tomorrow, »

INDIANAPOLIS WFBM 1320 (CRS Net.)

4:00. Navy Band 115 Tea, Tunes

4:45 »” 5:00 Wheel Missi 5:18 Howie Wi ia a 5:30 Safety Program 5:45 Sophie Tucker 6:00 News 6:15 Lum & Abn 6:30 Asi Basket 6:45

(NBS-MBS) I U. Program

» Piane Parade

Lousy Sanger Dick Tracy Lyrics Easv Aces Human Side alter Shead ir Newspaper Man's Family ” ” Dorsey's or.

7:00 Gang Busters

1: 7:30 Whiteman’s or.. 7:45

3:00 Star Theater :13 ”» ”» 8 :30 LH 3:45

9:00 99 Men & A Girl 330 Edgar. - “Guest

Fred Allen ”» ” » ” »

° se ”

” » 3 Kay Kyser

» »

at it for the past 40 years, » »

THIS EVENING

(The Indianapolis Times is not responsible for fi aouncements caused by station changes po ry Le a yreuraties in worm -

INDIANAPOLIS WIRE 1400

CHICAGO WLS-WENR 7 (NBC Net.)

Biltmore Boys Swing Time Landt Trio Charles Sears Don Winslow Malcolm Claire Piano | Sports | Easy Aces Lost Persons Sports News Crime Reporter Hobby Lobby

CINCINNATI WLW_300 on

Han Toy x irate, S| Fn Sullivan

Winslow Rofinpy Or. Nixon Den Lowell Thomas Amos Melos rave

Front P Inside Svorts

Man’s Family . Dergey’y Or, Fred Allen

Your Health Martins’ Wings

Ransom Sherman Kay Kyser

#9 » ” .

: Commentators

News Amos ’‘n’ Andy James Or. News : Baum’s Or. Kinney’s or,

0:00 10:15 10: 0.

Pau) Sulli UNO

News Bolognini’s Or. Henderson's or. lu

Casa Loma Or. Strikes & Spares King’s Or,

Savitt’s or, Lights Out ” »

THURSDAY

30 45 :00 15 3%

11 11: 11: 11:4 INDIANAPOLIS WFBM 1320

(CBS-Net) 6:30 Early Birds 648 "WW

(NBS-MBS)

Devotions Markets

INDIANAPOLIS WIRE 1400

Music ” ” ”» Henderson’s Or.

PROGRAMS

INDIANAPOLIS (WIBC 1050)

Moon River

Review Dailey’s Oe,

CINCINNATI WLW 700 (NBS-MBS)

Tabernacle Hon a and LRtlen fi

Tunes & tips » ”

News Dessa Byrd Baby Rulletin Symphony Central City Other Wife Plain Bill

Organ Montana Slim Serenade Apron Strings

Kitty Kelly Farrell's Kitchen

Stepmother

Mary Taylor | Scattergood Bie Siste Life Stories

Towertown Nancy James Farm Circle

David Harum Lorenzo Jones

Editor’s

Singin’ Sam Linda’s love Dr. Malone Farm Hour

Farm Bureau Markets 2: News 12:30 Voice of Farm 12:45 Holiday. Lenten Service Dr. Susan - Air School

Rakov’s Or. Betty & Bob

Valiant Ladv

Army Band Singer Recital # » Poetry Lebrun Sisters Varieties Stella Dallas + Vie & Sade Gir) Alone

U Program ores ; Home Edition Monaco’s Or.

Four Clubmen 4:00 Before the House | 4:15 Tea Lun unes Sc 4 3 0 ” é

23 :45

NBC-RED—WE, CBS—WABC, 8

Woman in White

Widdow Brown Daughter

Ee s Dauchter Church Hymns

Frog ress, Parade

Backstage Wife

Time to Shine Peter Grant Ch huck Waron Jam

nting Myr Fashion Footlights Aion Devotions Matinee = "»

” »

Singer : a Go Around. n Sid

Bartlett Musketeers Peter Grant N. Shilkret’s Or. Road of Life

Primary Rlythmios Edens Dai Daughter Noon Rhyt} he O'Neills

Charlie ews Boy etry ‘Gin Form Hour ”» »

Frank Dadg Farm N rank Dudgeon arm : Words & Musie Happy Gilmans

Kay Linda’s Love » Vio & Sade

Sleepy Heliew

Hall’s Or. Tropie Moods Shut-in Friends Wirge’s Or.

Charles Thomas Enythmakers Concert Hour

Betty & Bob Grimm's Dauchter Valiant ‘Lady aan:

M: Fenner ng Tin Swing Concert Mad Battertields Paul Krauss Midstrea 5 Beautiful fate Kitty Keen

Home Folks ” ”

Hannah Jambores ‘ Paul Sullivan

Legislature Zazoozology Old Refrains Honolulu

KEY NETWORK STATIONS (Subject to change): NBC-BLUE—WJZ, 760; WOWO, 1160; WENR-WLS, 870; KWK, 1350. , 660; WTAM, 1070; WWJ, 920; WMAQ, 670. : 860; WIR, 750; WHAS, 820; KMOX, 1090; WBBM, 770. MUTUAL—WOR, 710; WHK. 1390; WHKC, 640; CKLW, 1030; WSM, 850,

The Western

Life Insuran

December

Consolidated Federal Land Bank

Ground Rents

Municipal Bonds (No default in principal or interest) First Mortgage Loans on City Property First Mortgage Loans on Farm Property

and Souther

ce Company

‘Home Office, Cincinnati C. F. WILLIAMS, President

F ifty-first Financial Statement

31, 1938

ASSETS United States Government Bonds * oa bai 61,242,338.69

516,506.26 5,253,321.95 67,558,321.07 1,988,306.65 5,480,661.03

Bonds ssessssessssssesetencete

22 loans as limited 4 y law to 50%, wo} appraised value

Policy Loans

» | Preferred Stocks (authorized DY 1aW) cermcssrsmsorssresssersns

City Property City Property Sold Real Estate< Farm Property

; ; 8,604,055.43 314,574.50 10,986,517.54 2,277,696.48 881,014.02

on Contract ...cewiee

Farm Property Sold Home Office Buildin Cash on Deposit in Banks

on Contract cece g and Property woes

Accrued Interest on Investments

Total Admitted Assets

Reserves for Taxes and Incurred

Contingency Reserves

Net Uncollected and Deferred Premiums ..ceccssssscscss

Securities Fluctuation and General

2,147,247.74 00000000000000000000000000006000000000 1,807,446.79. *

: SS

LIABILITIES Reserve for Protection of Policyholders esses $140,417, 244.93 | Premiums and Interest Paid in Advance esse

623,638.66 1,378,885.39

5,371,579.71

Unpresented Items <

Capital’ and Surplus

23,307,683.00

Total Liabilities

INSURANCE IN FORCE ASSETS

The above statement is has characterized this

nn $171,599,031.77

$881,995,571.00 $171,599,031.77

3s proot of the sound financial management which ompany for over fifty years. The. purpose is to provide the utmost value in life insurance at cost consistent with absolute safety, is our Commercial Whole Life Policy for preisired risks. us at ages 15 to 60, in amounts of not less than $5000

PREMIUM RATES FOR $5000

pany s

An example of this Practice

40 45 50

50[885.95/5100. 0515121. 75/8150. 358188. 10

J. B. MILLER, Manager 515.5% The Guaranty Bldg. s W. Cor. "Meridian st. & Monument Circlé*