Indianapolis Times, Indianapolis, Marion County, 16 January 1940 — Page 27

’

NEW YORK, Jan. 17.—We have

*8een that when. Mr. Roosevelt in

1933 denounced spending in March and boasted in April that he would cut Hoover's spending estimates by 8 billion dollars, and then in May threw all this out the window with a $3,300,000,000 emcrgency ‘spending program and two months later talked about a 6-billion-dollar deficit, he was merely yielding to the pressure of the crisis without any definitely formed notion of what he was doing. “The little boom of the NRA was crashing under his eyes, something had to be done—millions were unemployed and despite the whirlwind of legislation they remained. unem-

‘ployed. The only people who had

any plan for meeting the crisis were . those: who believed, not that Hoover had spent too much, but that he had not spent nearly enough. And 80. the President yielded for lack of any other escape. And he did it without ‘any apology for his recent condemnation of Hoover or any SppmTent. evidence of shame, . = = BUT HE DID NOT grasp the underlying .philosophy of those who had for a long time been advocating a spending program. These people had’ insisted—and the writer was among this number — that private |G long-term investment had collapsed; that something must take its place

until the economic system could be | 750-1

set in motion again; that therefore the Government must do two things. It must embark upon a program of low-cost housing, spending bil-

lions raised by borrowing on bonds Good

secured by mortgages on the buildings with provision for amortization. Jt must also spend whatever was essential for relief, but raising these: funds by taxation. : They also urged that these investment and spending programs should be accompanied by drastic

Government pressure to prevent M

price rises, for such rises would cancel the effect of Government spend-

ing. ® = =

THE PRESIDENT, HOWEVER, seemed not to have any perception | of this spending program. He rushed into borrowing huge sums and laying them out in the most lavish, unrestrained, unguarded manner —

Jmost of it under the control of poli-

ticians. He came around to adopting the “pump-priming” theory. That is, the money would flow into the hands of the unemplayed and from thém to the businessmen, who, finding themselves stimulated, would start buying and expansion. But he poured the money out into unproductive channels, ignored the low-cost housing program, borrowed every penny that was used for relief and recovery and started with the NRA a drive for higher prices, and when, that. didn’t werk turned to his money-tihkering scherhes for the same purpose.” He suspended ‘the Sherman Anti-Trust Law and , encouraged an orgy of price and ' production combinations which he is - now, at the eleventh hour, fighting but which completely nullified the effect of all his spending, But through. this phase of the spending program—right up to 1937 —he held to the theory that it was merely an emergency policy, it was for . pump-priming, and that it “would quickly produce a recovery which would bring all the spending to an end. He assured the country that the end of .the spending would came ‘by. 1935 and thereafter we would begin to reduce the debt. - Of course all his budget estimates for 1935 and thereafter had to be|— junked in the same way as his first budget hopes. In 1935 the deficit was as large as it was in 1934, and in 1936 it was larger than in any other year—reaching a total of », 936,000,000.

Chicago Sendic

Low 5% 6% 3% 3% 7 7 10% 83

62 227% 11%, 834

West Corp er & Hart ot essses ‘ Noblitt-Sparks 0 west Eancp jet Paper ... Quaker Oafs . Rath Packing amo El

dy : +1-16 DAILY PRICE INDEX NEW YORK, Jan. 17 (U. P),— Dun & Bradstreet’s daily weighted

price index of 30 basic commodities, |

compiled for United Press (1930-32 average equals 100): Yesterday se ssssnnsedrnascens 121.00 Week Ago se5488008008000040 40 122.44 Month Ago Ses RNTRINIRRNITRIINDS 123.16 Year Ago Coss tsa Ethel an, 106.10 1939-40 High (Dec. 18)....... 124.19 1039-40 Low (July 24)....00. 101.40

See Final Edition of the Times for Closing Stock Quotations “and Other: Late News

kinds grading Striot H ing “most Sstre both local and ou ds. 8ccounts;

317% $

De bits

Top Price Remains at $5.95 For 200 to 210- Pounders; Vealers Firm.

Hog prices at Indianapolis steadied today after yesterday’s 10 to 25cent drop. Receipts at the Union Stockyards here were estimated by the Agricultural Marketing Service at 7000, half yesterday's total, Top price quoted remained “at $5.95 for the 200 to 210-pound division. Vealers also were steady with a top at $12.50. Native lamb prices were steady to 25 cents higher,

Jan, Top | Rept idan, 11 ...8 5.90] Fu! 1 rexel 410 12 ... 6.00, 58 o8| 16 cere B95 13... 5.90 3000) 17 ....

To, Repts. i ment 14,300 G89

Barrow and Gilts | Packing Sows

oa ahd Choice— 270- 300,.8% 105. 4.90 3%; . 5- 4.85 ho < ‘00 4.80

vo 4:50- 4,70 4.40- 4.65 4.25- 4.50

4.8 0.. 4.00- 4.60 a 4.75- 4 Slaughter ePigs n-— 0 Medium and Good Go 200. © 5.00- 5, 75] 90- 120... 4. 40- a 75

Slaughter Cattle & Vealers (Receipts, 1228)

4.95.

Steers

hoice— 750-900 $10. 75-11, 900-1100. 20 1100- 1308.

Bulls fir yeartings excluded) od ..$ 6.50- 7.00

6.75- 7.25 6.25- 7.00

8.25- 9.75

7.75- 9.60 7.50- 8.25

750-1100. 6.75- 7.75

(Receipts, 462) Steers, Heifers _St

eers

9.00- 9.75 8.50- 9.00

+8.00- 9.00 7.75- 8.75

7.00- 4.00 6.00- 7.00

ice | 500-9.75-11.00| 500- 300 8.50- 9.75/G00d— 800-1050.

Mixed— 500- 750. 500-700. noice ers edigm— JJ50- 900. 9.75-10.75) ¢ 790- 900. 8.50- 9,75 0500- 900.

dium— 500- 900. 7.25- 8.75 ommon-— 6.00- 6.75

500- 900. Calves (steers)

Good and Choice 500 down $9.25-11.00 Medium — : 500 down 8.00- 9 Culier 5 and Calves. Picola 50- -5.50| Goo

4, od— cutter (low | 500 down $8.75- 9.75 cutter). 4.00- 4.50 Medium— 500 down 17.50- 8.75

SHEEP AND LAMBS (Receipts, 821) Lambs

Good and choice..... Medium and good..

«ee.$ 8.75- 9.25 «so 8.00- 8.50

Ewes (on shorn basis)

Good and choice Common and medium ..........

CHICAGO LIVESTOCK

Hogs—Receipts, 18,000; opened fairly active, steady to 10 cen nts higher; closin,| with early advance lost; top, $5 i $039 and choice 160-240 1bs., 40-270 1bs., [email protected]; 5.50; 270-330-1b. butchers, $5 5; g00 360-550-1b. packing sows, $4.35 470; light. er kinds to $4. Sh Ss Sa 4000; late Tuesday fat lambs and yearlings, 10 to 25 sents lower; sheep, firm; wooled lambs, js 1 9; several loads, $9. [email protected]; top, $9.15; @ vo- 1091b. weights, $8.60@9; goo YT $7.60; bulk estern ewes, Today's fat lambs slow, strong to 15 cents higher; good to choice wooled lambs, $99.10; early top, $9.35; some held higher: sheep ground steady; scattered native ewes, $4

Cattle—Receipts, 8500; calves, 500; fed steers and yearlings; steady to strong; ‘and better these active on B

2.50- 3.50

top, $12 on yearlings a ium” weight steers, but several loads’ hetd wey vies $12; early bids indicating ne for season: up ald bullocks; with Y val PE medium weight and weighty steers, $i [email protected]; load IIo D. ayerages at $10.50; and 1550 . Ibs. t $10.40; medium to average good rades Ady; less active than strictly good and chaice kinds: market more dependable cn kinds selling at $11- upwards than on rades; fed heifers fully sigady; best, 10.50; ‘mostly $8 3. COWS, stronger, very scarce; bulls ractical top weighty sausage : bulls. $7. 3 lected ers bringing $13, mostly $12 @12.50; with supply outely small due to cold’ weather,

OTHER LIVESTOCK

CINCINNATI, Jan. ah « P.) .—Hog a Fairly’ 2600; fos 8 324 5; nip 4 airly ac ive, stea, c ier; 10 “250” 1b $5.7 y $8: # 550. Calves

100-140" fi 2 al $4 ow _Cattle—Salable, 350: total, 0. - Uneven, cows, bulls and ive weight yearlings and heifers fairly ac Steady. Steers slow, not §nough done to establish a price trend, Several .odd lots medium and fats 0-650-1h. yeariin s and heifers, $8. a art load around 10001b. steers, $8.50; o lots and around four loads steers i medium to good cows, $5.75606.25; canners and cutters, $45.50: vealers fully steady, early practical top, $13: most good and choice, $12@13. Sheep — Salable, 150; slow, around 60 head choice 85-1b. Western lambs. to city butchers, $9.50: most interests Jalkin weak to 25 cents lower, or from 9.25

down. Ind. Jon 17 (U. P.

—Hogs nts Yer is 200. 250 hee 360 ibs.

3 08: $ .

FT. WAYNE, Steady to 10 5.75; 180-20

26( 30( ips 4.65; $4.55; % : 120-140 2 Ne 75; 4 oughs, $4; stags, $3; calves, NE lambs;]

U. S. STATEMENT

- WASHINGTON, Jan. 17 (U. P.).—Government expenses and. receipts for the current fiscal Fear through Jan. 15, compared with a year ago S ar Year Expenses . [ade ,948,941, Re 94.

,087.670,832.97 7

I= 000000 RID bei O60 CO bet 1s

,584,335.917.96 176,281,435.74

INDIANAPOLIS CLEARING HOUSE Clearings ... «++. $4,243,000

.+ '197,882,787.85

NEW YORK, Jan. 17 (U. P.) .—Following are noon cable rates on major currencies: Cable Rates Net Chg. Foumd) seve $3.98% .

England Canada (

sessane

Switsenana Ml fraac) ses Holland (Bulger) ceeee weden (Krona) .eeees eden (KTONEe) eevee Denmark (krone) ..... s | Jepan (yen)

LOCAL PRODUCE

Heavy breed Jens, 5 Ibs. and over, 12¢: under 5 lbs., Leghorn hens, 7c; Barred and White Rook roasters, 4 Ibs. and over 13¢; under 4 lbs., 9c; colored ‘Toasters, 4 |N breed stags, 7c; Leghorn stags, 6c; Le horn broilers, 2 1bs. and Overy 9c; AP, lbs. and over, 18c; Ibs. and over, 16¢; 7 abs, and over, Ue. h t No. strictly fresh country run eggs, 15¢; each full case must gh 65 fi gross (a net deduction of 15 cents for each full case under 55 lbs. will be nade). | Butter-—No. 34 @ 34%: No. 2, Butterfat—No. 29¢; 2, 28c. (Prices quoted ¥ Wadley ‘Co.) —_————

BUSINESS AT A GLANCE: | By UNITED PRESS Bowman-Biltmore Hotels Corp. (Hotel Commodore) 1939 profit $60,137 before . amortization and Federal income taxes vs, profit $68,594 in 1938; December profit $8006 vs. $15,778 year ago.

Celotex Corp. and. wholly-owned subsidiaries fiscal year ended Oct. 31 net profit $741,756 equal to 93

58 cents previous year. December net income $23,180 vs.

$8066 year. ago; 1939 indicated net income $97,772 equal to 20 cents a

(share va. $71,572 or 15 centa in 1938.

RECEIPTS DROP;

Yor £3: for GET Bk

bs., | Freept Sulphur. 32%

[Gen Electric ... 38%

$4920 979,187.75 | &

8 Hack Wat pf A 35 03.58 Houd Her B ... 12

9,821,000 In

4 FOREIGN EXCHANGE

[Meg St...

over, 10c; under 4 1bs., 9c; heavy N

—C— @ | Owens Nl Glass 62%

cents a common share vs. $518,358 or Serv

50th Year in Work. The | Merchants National Bank,

celebrated its 75th birthday anni» versary today. :

business went on as: usual.

banking business last summer—at the age of 58.

Block on. N. Meridian St. Capitalized at $100,000, the bank was headed by Gustave Schnull, president; David Macy, vice presiwere - Mr, ‘Macy,

ier. Directors

99 | Henry Schnull, Mr. Malott, August

Schnull and Alexander Metzger. . Today, the bank’s capital, sure plus and undivided profits, together

with the exception of the original

paid in,

dividends to stockholders, for a total of $5,450,000, Mr. Frenzel said:

been prominent in the City’s banking history, first became identified with the bank back in 1867 when John 'P, Frenzel, uncle of the present president, became a messenger boy. His father, a. German emigrant from Alsace-Loiraine, | | ‘also was named John P. Frenzel. The second John P.|Frenzel, or John P, Frenzel II, as he was identifled to distinguish him from his father, John P. Frenzel I, and nephew, John P. Frenzel Jr. became known to his associates as the dean of Indiana bankers. His rise in banking |was rapid. Within a few years after his start as a messenger, he ame - bookkeeper and teller, then cashier, and, in 1882, president. His two brothers became messen= gers in the bank, Otto |N. Frenzel in 1869 and Oscar F. Frenzel in 1875. Otto became cashier in 1882 and president in 1893 when J. P. Frenzel IT organized and became president

President, Celebrates

with reserves, is $3,800,000. All this has been built up from earnings’

of the Indiana Trust Co}

ee ee

{ Net i Hen Low [Last Change : | Alaska Jun . 6% | 6% + A Cp pf 330 w 11%, 11s | ' | Alleah Lud stl. 19% 19% | 1 Allied Sto res <8 8l%s Al 42Y | 5%

m Am Am Am Am Anaconda Atlas Corp pf..

Bald ‘Loco ct.. Bangor & Ar. Bangor ‘&. Ar Li Barnsdal Bendix Avn ... Beth Steel .... Beth St et 5 pil

Briggs M yn & & i T pt

Campbell Wy . Can Pacific ...

Chrysle: Colgate-P-P 17s Climax Moly Co 3814 Col Broadcast A 2334 gol Broadcast B 237% u

8 .. 31%

Cons Edison .. Cont Ins ... Cont Mot ..... Cont Oil Del... 23% ot 1%

oty oes Coty Infer ..... Cub-Am Sug - Cudahy .....i. . 14 Curtiss-Wr . 9 Curtiss-Wr A... 28% Yep ere & Co .... 20% 20 Dist Be 18% 2%

Boehjes 2 Cast, 167% ouglas Air Dugues L pf.. 118% 118% Sn

fet

Soramaile FEES SWE

Bast Air Lines. Ne

0! Flea St Bat . 30 5 ans Prod: Gas 3 an) vans oe Ex-Cell-O ...,.. 2144 fe

2 15%, 30% 38 81 21% 32% 32% 3%8 38% 47 47 52Y, 25% 20%, Jo 12 1 23Va ~ 28 16%

Tid + dit

Slip oot aR Sa

PE: v 8% Ko

Wes! Sana

35 35 12% 12%

wl 3 12%

[11 Sentral L I. 39 : Sr 100% 168

39 13% 12 109% t 168 b rine. 9% bt Nic 8% 36% i P&P i »

52% 4%

sarees Wi Jons & Lgh 7 pf 657% 55% oF Kennecott ..... Kroger G&B ... 8%

36 28%

Leh Va 1 RR.... 3% Lerner 8Strs ... 27 L-O-F Glass ... 49% W'S “..seseee 34 Loft, Inc ...... 20% Lou G&E 20 Lou & Nash ... 55% \ aM Marine Mid .... 47% al ab Ya T% %%

ABA Ret

MO pt Ps 08% aN Nat Biscuit oes 23% % Dai 18%2 Hh 108% 16

JRIELPE

Ba eRB-a3BRaE +1.

sll: a iid SF

Se ES SR ae

No Pacific ..... 8%

11 32%

= 3 3

ME . . .

Rag Qoast 2 pt. 11 es El. wee 32

SEB BeNwid SER ER

= ++ FEE

aa Tb DD ot pt Soo;e =

Pu . 28% 2 Purity I ‘Bak reve 15 nh 3 5%

ieee itn 61

sd 30%

Ye 143% a: Ya

Radio.

Result df su Ryn Tob

ven

Safeway 7 pf 114 Bd P

Cincinnati Street Railway Co.|35

N. Y. STOCKS

By UNITED PRESS

| Week Ago .................. 150.15

3] Yesterday rose nsinnenyie

{Swift & Co

5 a To ka .

cdagdgad

, Van Camp Milk com..

. American Loan 5s 51..

EERE Ls

‘ to oft %

2 up“ cent, Tye up % to off % cent, 4 and SOY beans % to % cent lower,

oldest national | bank in" the City; Scores of friends congratulated 2 President John P, Frenzel Jr. but Mr. Frenzel observed the 50th anniversary -of his entry into, the

The bank was founded Jan. 17, . 1865, in the last days of the Civil War, and was located in the Tilford

dent, and Volney T. Malott, cash-'

$100,000 capitalization and $396,000

During its three quarters century : existence, the bank has paid 219 §

The Frenzel family, which has :

John P. Frenzel Jr. . . . business as usual.

Oscar became vice president in 1915 ‘and died May 7, 1929. John P. Frenzel Jr.—the third

John P,, and son of Otto N. Frenzel —has been president since 1929, He graduated from Cornell * University in 1903 and, before becoming president, served in various capacities at the bank. His brother, Otto N. Frenzel Jr. now vice president of the Merchants and president of the Indiana Trust Co., became associated with the bank in 1919. He is a graduate of Shoritiage High School and Corne The bank occupied its first location two years, and then, in 18617, moved to 48 E. Washington St. Two years later, it moved again, this time to the Vance Block, now the site of the Indiana Trust Co.

DOW-JONES STOCK AVERAGES

30 INDUSTRIALS Yesterday ....o.ocoveenen.s 145.687 41.02 +0.31 +0.20 + 0.06

Month AZO ...ccvoviinveness 149,13 Year Ago .................. 148.99 High, 1939-40, 135, 92; low, 121.44, High, 1938, 158.41; low, 98.95, 20 RAILROADS Yesterday .. seecsenans Week ARO oovveevivissnisnss Month AZO ¢covcvvovsoncsss. 81.42 Year ARO .......iveeiee.. sv 82,01 High, 1939-40, -35.90; low, 24.14. . High, 1938, 33.98; lew, 19. 00, 13 ATILITIES, Ys .25.20 26.10

30.38 31.85

Week AZO «..onvcresivsresas. Month Ago oo 24.87 Year Ago -.... ees 24.18 High, 1939-40, 27. 10; Yow, 20.71, High, 1938, 25.19; low, 15.14.

secosscnee

High Low Last Choade . 22% 2%’ 28% “vee

- 344

Syming-Gould

. 44% 28%, 21% 5%

44%, 283%,

+ +

Texas So Thompson, Tr . Timk-D Tg 5% Ya O Union Carb.. Jnion E Mo BE. 13 7 Jn Air Line;

82% 1

59 iv L T pf...157 Yi Vard Bak 3: a ‘arner Bro 3 Vest Auto ip 3

Vestvaco ae Sa oolworth. .... 01

LOCAL ISSUES

The Pllowin t : sent, Ron ghee Cop. fo dan ual price offerings, but dicate the approximate market mere] based

on buying and selling qu transactions, Sto > Pi ak

tent Finence Co com.. Belt" RR a. . 6 81%

ne om ie i ne 79 d. 50! % wil RE

At os

1% Ly 53%

Pub gery 5 ea Pub Ser fehl ne 88

Ind Pub Sery rogtess Laund % a

d Gas Terre Haute Union Title Ah Van Camp Co, ta;

seeesanes 113

Bends

American Loan. 5s JeAnteas + 34

Citizens nd Tel Sas Ea

branches, setts Ave.. and 38th St. lated with the Indiana Trust Co. the. State’s oldest trust company, and the Fountain Square Bank, a pioneer in neighborhood banking.

chants includes Niles Fred C. Krauss, F. T. Holliday, A Kiefer Mayer, William B. Stokely Jr.,, Robert B. Failey, Edward J. Bennett, John P. Frenzel Jr., Harry J. Herff and Otto N. Frenzel.

* |FOREIGN GOLD FLOW INTO U. S.

tion in: Ind.; Evansvil e; 100 shares of oe par ot Seal ing a hay, grains, farm

men! ib Shetty McDowell,

Goebel fegistration of fade mark label, bel,”

The QiinareAists

Inc., capital stock; line dealers; Clarence E. Margenau, Paul R. Shearer

Bciohes Trust change of agent .to Joh addres

dealing in dry ta-wear, etc.; B, Bernstein, Pauline ‘Weaver.

at Cash co 2 white. “stielled, 560: No. 2 white oats. 34c.

Legals

In 1883, it moved to the Odd Fel-

lows Building temporarily while new quarters were being prepared in the Hubbard Block, at the southwest corner of Washington and Meridian Sts.

The - present site was purchased

in 1904 and the new home was completed in 1908.

The bank now. operates ‘thie Brightwood, MassachuIt is affil-

‘The present board of the MerChapiat,

INCREASES

WASHINGTON, Jan. 17 (U. P.).

—Gold imports into the United] States during the week ended Jan. 10 increased almost. $10,000,000 over the preceding week, reaching a total of $67,168,787, the Commerce Department reported today.

The largest supplier of gold was

Japan with a total of $32,217, 7154, followed by the Union of South Africa with $10,888,868. sent $4,808,644 and Norway $4,775,991. for foreign accounts at Federal Reserve banks was reduced $13,115 ,983, s | leaving a total of $1,139,320; 982,

stJOHNS-MANVILLE

. Canada

Gold held under earmark

TO REDUCE STOCK

NEW YORK, Jan. 17 Wr. P)—

Johns-Manville Corp. on April 1 will reduce its outstanding preferred stock 7500 shares or 10 per cent to: a ‘total of 67,500 shares, President Lewis H. Brown" announced today.

Redemption, of the shares will be

‘lat a price of $120 per share plus an amount equal to all dividends accumulated and unpaid at the redemption date, he added.

: Incorporations

Farmers Grain Co Ine: Rahm's StaUnion Twp. Count; agent, k, R. Roy

products and ence Leo Long. Detroit, Mich.; rom the Cypress Casks Fg ey 47; he extracts. Ve

Schen

Brewing Co.,

ntam,

: Seo tt & Sons Co., Marysvi on. of trade-mark, ust ain 10; fertilizers.

Lee Candies, Inc., Michigan cor-

Mary k joration; admitted to Indiana to sell cone

cti

Calumet Region Gasoline Realers Aun. 5305 Hohman Ave., Hammond: no romote interests of 250Lowe: Ralph W

SSO iuction Equipment Co. of Indiana, change of address to -907 Bldg. Indianapolis, and E, Scott, same

. hart;

United Co-Operatives, Inc., Indianapolis;

Sinehdment changing number of divectors Q

The Model Shop, Inec., 225 N. C ion City; agent, address; 50 shares

olumbia Pauline Weaver, no par value; oods, leather goods, readyharles -Bernstein, Abraham

WAGON WHEAT

Thin a olis rain elevators are payin n n hen § 93c; Subject io Th citer rades on their merits. yellow, shelled, Hic; >No.

Shares: Rally, Then Falter “In Quiet. Trade on New York Board,

5 By UNITED PRESS : Stock rallied ~ fractions to more than $1 early. today and then 1} st of the advance in a mid-se: on. Trading was quiet. Gh ‘shares were leaders on the reaction, Some traders believed selling in the group had been stimulatd by the Iron Age weekly review, which said eurrent business was running ‘at about 50 per cent of shipments, that -much of the current

‘output was at thie expense of back-

logs and that a gradual decline in the operating rate appeared in prospect. Bethlehem Steel hit a forenoon high of $74.75, off $1.25, and then lost the gain, U.S. Steel lost an advance of around $1 and a gain of $1 In Chrysler was replaced by a small loss. Douglas Aircraft held a $1 coincident with reports that a gain. ish Purchasing Commission was negotiating to buy planes here. Some merchandising issues also held well, but most other groups lost advances.

SHELL EMPLOYEES MEET TOMORROW:

The Shell Oil Co, Inc., will hold its annual sales conference tomorrow in the Claypool Hotel assembly room, J. L. Wadlow, Indiana division manager, said today. District managers, service engineers, territory salesmen, bulk depot

supervisors, bulk depot agents and

division department heads will attend, : Among the expected 250 will be P. E. Lakin, the company’s vice president in charge of marketing,

who, with Mr. Wadlow, will present service emblem awards to: employees who have been with the : company

{from 10 to 15 years, from 15 to 20

years, from 20 to 25 years and 25 years or more, All Indianapolis

division office employees will attend this presentation.

Following the dinner the group will attend the hockey game at the Coliseum.

Three to Attend

Henry W. Morris of Indianapolis, George H. Goethals of Mishawaka

and Floyd RE. Lesper of Plymouth will attend a thr training conference of the John Hancock Mutual Life Insurance Co. at Boston. Mr. Morris, who joined the Indiana agency in his present capacity a year ago has qualified as a member of the Indiana production club and ranked fourth among all John Hancock = representatives’ in total business paid for in 1939." Sessions open Jan, 22 and close Feb. 9,

Announce Milk Prices

Marion County Area Milk Administrator Leon C.. Coller today announced distributors. milk prices for delivery period Jan. 1-15 for 4 per cent butterfat content. Prices are: Class I, $2.54; Class I-B, $1.83; Class II-A, $1.69; Class II-B, $1 57; Class II-C, $1. 48, and Class 111, $1. 35.

By-Products Pay City -

It pays to operate a garbage reduction plant from which byproducts are manufactured when business in general is good, the annual report of the Sanitary District

showed today.

The garbage reduction plant’s 1939 operation yielded a net profit to the city of $7860.83, the report showed. Figures of garbage plant operation for the past three years showed that profit and loss at the plant coincides with general economic conditions. In 1938 when business slumped locally, the plant lost $8685. In 1937, a boom year, the plant made $27,831, while in the depression year of 1936, it lost ~1 $19,475. Total. cost of running the plant this year was $87,978.03. Receipts from grease sales ‘were $56, 370.60; from fertilizer, $20,193.56, and from feed, $19,274.70—a total of $95,838.86.

CARTOONIST WINS PLEA BRIDGEPORT, Conn., Jan. 17 (U. P.).—The plea of Harold Gray, Westport, creator of the comic strip Little Orphan Annie, that a $500,000 contract would be jeopardized if he were compelled to serve on a Superior Court Jury, won his release from

court duty today. 44

University . or Pennsylvania may {celebrate ts’ 200th. anniversary. on : CBS-WFBM at 9:30'p. m. The or-|

| tomed spot next week,

‘other allied institutions,

-weeks advanced |

chestra will be back in its accus-

- Founded in 1740 by Benjamin Franklin as a charity school, the U| university has survived two centuries, five American wars and sundry lesser disturbances: Today it has 14 departments of instruction, hospitals, laboratories, libraries and

On the program tonight will be Supreme Court Justice: Owen. Roberts, Governor Arthur. “James of Pennsylvania, former. Senator George Wharton Pepper and Dr. Thomas S. Gates, UniVersity president. The: University band and glee club also will be heard,

8 = ®t

“Five - Star Final,” the famous Louise = Weitzenkorn play about

hicle for Walter Huston’s appearance on tonight's Star Theater nour (8 o'clock, CBS-WFBM). Burns Mantle, the drama critic, will introduce the evening's star. 8 8 =» When Lawrence Duffy started work as the Astor Hotel doorman, 28 years ago, Broadway was still] Manhattan’s main stem, the taxi had not entirely displaced the

9 {retin

'WFBM at 1 o'clock.

“yellow journalism,” will be the ve-|

or So you'll ‘hear-the inside ae. on the: Ce Great” White Way and

J ; itsvadcompanying ‘celebrities - when | Mr. Duffy. appears on. ‘the Fred, Ale

fen + + program ‘this: evening’ (NBCWIRE, 8 o'clock). Fred also will present his Own _ version ‘of ‘the SsgbetinanieBases story. : nu ux =» a This is the evening that -Al Pearce has chosen to stick pins into some. of radio's sacred traditions, Among other things scheduled: for

5 v » oa

‘deflation are tHe daytime serial, the

all-night niusical program and the commercial announcement. Al and his gang are.on. CBS-

od < » i. al . 4 ay} "When Herbert Marshall appeared as 8 Surprise guest on the Burns and Allen program last week it was the first “time in ‘nine years. that George. and Gracie hag: entertained a visiting celebrity during. broadcast hours. : ‘ Tonight the comedy team will be back at its: accustomed ‘tricks, abetted ‘only by Ray Noble, Frank Park. er and other regular assistants. - ‘Gracie also plans to ‘throw in her play based on “The Postman Doesn't Even Whistle.” . . . “Only in my -version,” says Gracie, the postman doesn’t even whistle.” (6:30 p. m.,, CBS-WFBM). 2 a =» if They're going to pass out prizes to 23, winners in the “Adventures in Photography” December, ‘contest during tonight's broadca So if you sent in your pshot, be

Hansom, and the street was far from its present estate of “a gulch #” fF J 8

IN DIAN APOL WIRE 1400 © (NBC-MBS)

Girl Alone Midstream Dick Reed Dessa Byrd:

Lady Luck Basonology / Bible Questions Hoosler Sports

Pleasure Time Myvster : Trenoure 2m Dick Reed Fr

Red Skelton ”n ”» .

INDIANAPOLIS WFBM 1230 - (CBS. Net.)

‘Kathleen Norris . Golden Store Hollywood Scattergood

Billy & Bett Hedda Hopp + ; Vv. Bananoorn Eoobbesn News

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dems sxe3 asSasS | GSas| wend]

ws I and Abner Burns & Allen

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Al Pearce Dr, Christian

scone

THIS EVENING

(The Indianapolis Times is not responsible ments caused by station changes after press time.

around at 9:30 p. m/, ++ I's on NBC- WENR. Se

ry eon for inaccuracies in program announce-

I8 8 INCINNATI a 780 LON 700

Net.) (NBO. MBS) Ra 3 ot hbors Kitty" Keene A i . he a strong rm fithony Sisters : Serenade

" Paralysis Foundts, Fred Kirby Stories Bake ud Barton om Mix

ces ersons «

‘Lowell Thomas ° ‘Pleasure Time News

Arnold's. Or, Inside Sports

Hollywood TL ” Red, Skelton

" Easy Lost. News Grace Wilson Johnny [Presents | Quigk Siiver

Star ”» » a

Theater ”» ”»

Fred Allen ” To»

” ”

foie ed. Weems . Chicago Chorus

Fred Allen ”» ”» » ”»

Glenn Miller inner Program wu. of Penn.

Kay

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Kyser ”n ”» »

Shield’s Revue » ”» * ;

ptography

Kay Kyser ” -”n

» ”»

ig and Andy Sammy Kaye

New Basketball Di ek Jurgens

O’clock Final

10 ali! |

Peter Grant Fr aring

Jimmy James

3 £98 £358 5853

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Paul Sullivan Berrigan’s Or. Vincent Lopes

Recordings

News

THURSDAY

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" INDIANAPOLIS WFBM 1230 - WIRE 1400 . (CBS Net.) . {NBC-MBS) Early Birds Dawn Patra) ” id Markets

”» ”» ”

News

. Freddie Miller ‘Good: Morning Ensemble -Miss Julia

Kitty Kelly. ~~ : Ms and Marge ; op 3, } Stepmother ~

. .Mary_ Taylor - Brenda Curtis.” . Big Sister Life Stories

Kate Smith Girl : Marries Farm Circle

Dawn Batrol ”» »

News

- City _Todav -Air, Kitchen

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Dm Ams Bom | med pad) S853 5853 «oe

Other Plain Bill

.Road of Life Against Storm Guiding Light

Singin’ fam + ‘Pr. Malon Woman of Com Linda’s Love

7 Farm ‘Hou

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2S GSTS

Farm Program News Kitty Keene ° Home Circle * ” " Clubmen fv Submen H. S. My Son & a Joyce Jordan

Souter Girl Air | Sehgol :

“Weat Reporter ' Headlines

.. Bettv & Bob -Grimm’s Daug! Valiant dv. Charch mis

ary Marlin Ma Perkins > epper Youn Vie & Sade

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Three uarter TimeHackstate and Bits 2 llas Witians Wirges Smilin’ Ed

Kathleen Norris

Do Jones Widder Brown

Girl Alone Midstream Ick Re Dessa Byrd

atm | samcece 35235

1 Scattergood

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INDIANAPOLIS

- Editor's Daughter Buotiights Man I Masi ed Wif {

‘Woman in’” : Whits Songs: = David . Harum T

Wife

Ka ssel’s Or, Little's or. . -y PROGRAMS INDIANAPOLIS CINCINNATL | WIBO 1080 (NBC-MBS) | ti 1 , Dilitional & Motpin’,, Breakfast Jam -

Schnickelfritz Al John’s Or, Mogn River

Time to Shine News

Gospel Singer Hi gy & Maggie

Cargvan, ¥

» ”

New| Gool a . Ornin ot te x Unannounced News :

.- Man I Married = .Other Wife ain_ Bill elodies

Linda’s Love

Melody Lane Swing Pasi Gems

“Friendly House

Lib Road | of Life rar elodies - Publie, ties’ y Guiding Light

* Noonday Rhythms Happiness Bl ues Chasers .O'Neills makers arm TARE Bor y -and Girl wie ” oo Ellen Randolph Editor’s Daughter Peter Grant

. Betty and Bob Grimm’s Daughter Valiant Ladv Church Hymns

Mary Marlin

‘Ranch’ Boys her Home Folks Bill Jones Ale Sutton

Musicale hter Community Hall Haven of Rest

Piano Mood: Roy Wallace : Congert Hour

Backstage Wife Stella Dallas

Miss: Julia Beautiful Life Ritty rasene Mid

Migst ‘Armstron Invitation

.3 0’Clock Club onolulu mories Today’s Musie Swipe ,- Serenade Silent

. KEY NETWORK STATIONS (Subject to change): CBS—WABC, 860; WIR, 750; WHAS, 820; KMOX, 1090; WBBM, 770. MUTUAL—-WOR, 710; WHK, 1390; WHKC, 640; CKLW, 1030; WSM. 850. NBC-BLUE—-WJZ, 760; WOWO, 1160; WLS-WENR, 870: KWK, 1350. NBC-RED—-WEAF, 660; W1AM, 1070; WWJ, 920; WMAQ, 670.

mare LOAN

ON ANYTHING

SACKS BROS.

306-10 INDIANA AVE.

‘OUTFITTERS TO MEN, WOMEN and CHILDREN

Toten

THE MODERN CREDIT STORE

129 Ww. Wash. Indiana Theater

. 7 47. itl jo In 6111103 105 id 0%: 83

Te i oC

WHEAT GAINS SMALL |

CHICAGO, Jan... MU. PY~ Wheat scored’ fractional: ‘gains on the- Chicago Board of Trade today after opening easier. At the end of the first hour, wheat was % to 3% cent higher, with May at 997% cents. Corn was up % cent, oats unchanged t6

Pony PRICES

0. a Pd

TApDlss=

hia, crates, & Ba 85c@ $1.10, c@$l. Pe 7

feler . fornia, bu ali

sacks)—Michigan Yellow An elev,

Coa {ES

Wy of nee regula Company Delaware day, Jan, 30, 1240, ; at 4 p

Treasury. Su oro

aed

Supetvitor; Alcohol In

‘of first is’ hereb PJ124373, Marion ' Co! the.

332 terest os sai Lr ce on

ea Qnion market 50-1b. | ON

gis he kin

LEGAL NOTICE. ~ of the stockholders gs and Investment . held at its office, 128 N. Indianapolis, Ind. .» on Tues-

tto- ou Secretary.

jartment Pisice ot District

D Alcohol Tax Unit, Bureau

ernal Ri

in RD f

IN CHICAGO TRADE |=

aiedy cit

perty Invest ter in "Charge,

Folryary dis ht: c Yellowley, District Supervisor.

Office of District X Unit,

fore

TeASUry Department,

ernal Revenue, publication, January 3. Notice given that on December 18, 1939, i dan. Motor - No. i Races, was seized in an

venue Laws, & terh L Rey <n claiming an dn. perty “must pappear at

Ate r_in ar coh Ria ok Bu uilding: Tr Indian

fiinols.

aim . an ath by Section 3 I. R. = hrilary 2.- 1940;

other LX will sed of Soca |

t sds

lition S

Bureau of} Chicago. Diino. Date | be

for {violation > propri

i day "0 sak

i Burons” of :

C Yellow ey, “Bisiriet Biporvlsor. ;

NOTICE OF DETERMINATION TO ISSU BONDS CAND, OF APPROPRIATION oF THE P! EEDS O UCH BONDS

Notice is, hereby or hat The’ Board f Sch ommissioners of the City of lana, at a Special meet- : of January, 1940, deie amount b sed Ing ng al oming oard in the calendar ds to pear. nerest payable semi-annually, at a. rate not to exceed §- Ser cent per. ain to be determined by e bidding therefor, and he pri . said bonds shall be paybl (but not necessarily in ogy a] annual amounts) as provided in the n ‘adopted by the rd

in. detern to issue sai r more taxpayers. other than thes who pay poll only, who feel themselves aggrieved 2 such determ nasion Gin ap on Board of ax

lg $i

the. 3 ay anuary, 1940, ag hour of 8 ‘the ti

us] a hearing and final & action upon. said appropriation, which the Board Dy. the eossamty of orem, idin omen to aid a Said. ou on tat ing.

up. nding bo! is a re LL to

Sai. heatiuare nd. aha ha have ng a Be fxd ns 1 Such a Board , will be nally ins by the as uditor to ate. Board 0 3 -Co noard wi a hear

ropriation rhe FE ald a ers ur i may 1 Hear re 0 XC

nd thier

Men's: And

Is. Opposite Us ELE EPAIRED | | EFITTED | Women's

L E 0 N= TAILORING CO.

235 ' MASS. AVE.

F RACTURE ‘BEDS

Can be rented at ‘the new - HAAG'S ALL-NIGHT

"DRUG STORE 22nd and Meridian

o'cl och rs and an office of the Board, mn "the Sil ee , - L

a. section 3 fa ua a so in offers for the be Dro EC y Tey Pe Superyisor, | 3

artment, Office: rm open

1386 Intern

considers |

Has a Paint tor Every BA ons. LESS Because it Lasts Longer.

WASTE PAPER AMERICAN PAPER

STOCK COMPANY RI-6341 320 W. Mich.

WMIOSIRINS CLOTHING COMPANY

131 W. Washington. St. ° _ Directly Onpasite Indiana Theater

It TA CTW A a IR RET a

AUTO AND “DIAMOND

LOANS

20 Months to- Pay

WOLF SUSSMAN, Ino. 239 W. WASHINGTON 8T.

Establish 8 Years: Opposite Ablished 5 8 L1-2749

7 sUNECH WY EAR

IN THE

STL

14%

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VONNEGUT'S

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