Indianapolis Times, Indianapolis, Marion County, 23 January 1940 — Page 11
TUESDAY, JAN: 23, 1040
NEW YORK, Jan. 23.—In a group of .pieces for this paper I have tried to point out the inadequacies, lack of plan, and dangers in our whole budget-making policy during the last seven years, which culminate now in one of the most serious budgets in our history. But what can be done about it? On one. hand, conservatives clamor for economy. On the other hand, farmers and the unemployed clamor for a continuation of the spendings. Another group insists on vast armaments. And almost everybody cries "out against further taxation. What can be done? First of all, we have to be realistic. We are confronted with a condition—one might well call it a mess. Not only ‘have the recovery and relief expendjtures of the Government been kept at high levels, but the ordinary expenses have been increased. And now a new element of expense has been introduced under the guise of national defense. AS A RESULT OF ALL these spendings of borrowed money a condition has been created. In other words, we have actually put Government borrowing as a prop under our economic system. deal like the tariff. We have built up a great many industries upon
the principle of protection. The in- Cho
They employ One might op-
dustries are built. millions of people.
pose tariffs and if we could go back| go
to the beginning and make a fresh start, we might leave the tariffs out of our economic life. But now that we have these immense industries built on the tariff, there isn’t much we can do dover it. Having built our present ré@overy— such as it is—upen Government
spending of borrowed money, the o
wise man, even though he be opposed to this immense public deficit industry, must recognize that to pull the Government prop from under our society now would produce about the same kind of ‘a collapse as the repeal of our tariff. In short, Mr. Roosevelt has cre-
ated a condition which is profoundly 1
dangerous and will lead to a terri-
ble collapse, but which it is difficult |
to correct without: hastening the . collapse, - s = = WHATEVER IS DONE, therefore, must be done with the greatest caution. There must be none of that kind of hurried rushing into mere cuts that has characterized all of the fiscal policies of this Administration. It is time that some sort of intelligence and sanity be put on the job. The wise course, therefore, is for Congress to go slow. It is in a hurry to be done with its work to get off to its conventions in June and July. But there is at least four and a half months to look this serious problem carefully in the face. In the second place the wise course is, instead of dealing with individual items piecemeal, to adopt a policy. Not merely a policy of economy, but a fiscal policy adapted to our condition. A policy of mere economy with slashing here and there may well work against economy—it may bring a collapse which will be just another argument for those who believe in deficits. The first suggestion, therefore, is. to go slow and to debate fully and adopt a general fisal policy based upon the whole economic situation.
BROKERS ASK COURT TO DISMISS SUIT
Cassius Curtis and Kizer, Cohn & Shumaker, Inc., both Circle Tower investment brokers, have asked the Federal Court here to dismiss an injunction suit against them.’ The suit, filed Jan. 16, by Daniel J. Zimmerman, local architect, seeks to enjoin the dealers ‘from dealing in stock of the Biltmore Realty Co. Mr. Zimmerman, who lives at the Biltmore, 3540 N. Meridian St., contended that the dealers “entered into a conspiracy to. obtain management and ownership
of the apartment” in violation of|g3ss
the Federal Securities Act.
A hearing, set for today, has been :
thanged to 11 a. m. Feb. 1, by Judge Robert C.-Baltzell.
FOREIGN EXCHANGE |
NEW YORK, Jan. .23 (U. P.).—Followhg are poon cable rates on major curtencies: Cable Net
Change England (pound) .005 Rn (dollar) . +.00Y +-0000% —.0001 une jucted olland uilder) weden (krona) orway (krone) .. Jenmark (krone) apan (yen)
- Report of the Condition of the
WESTERN SAVING AND LOAN ASSOCIATION
of Indianapolis, Marion County, In-
diana, at the close of business on|E Gt A
December 31, 1839:
RESOURCES First mortgage loans Real estate owned (exclusive of office bldg.).... {nvestments— U. S. Government obligation (including L.
$109,024.50 5,000.00
97,200.00 2,600.00 88,868.58
H. O. . Other investment se= curities iiisreie Cash on hand and in banks :
Total covvvennienrseens $302,693.08
LIABILITIES Repurchasable or free shares— Installment shares .....$213,372.07 Mortgage pledged shares. 33,216.78 Contingent fund ......... 27,000.00 Undivided profits ........
Total ......c.ivh.ni eve: $302,693.08 Btate of Ingiana, County of Marion, ss: We, the undersigned officers and
Rirectors of the Western Saving and | Debits
Loan Association of Indianapolis, Indiana, do solemnly swear that the tbove statement is true. J. P. FRENZEL, JR., President. . WM. C. GRAUEL, Secretary. OTTO N. FRENZEL, Director. . J. M. MENDENHALL, Director. R. E. SWEENEY, Director. Subscribed to. and sworn before ne this 19th day of January, 1940. THOS. A. RESSLER, y Public
It is a good |}
29,104.23 | Gs
RES SELL EVEN IN TRADE AT STOCKYARDS
Top Price Remains at $5.95 In 200 to 210-Pound Hog Division.
Hog prices at the Union Stockyards ‘here today held even with yesterday's levels, according to the Agricultural Marketing Service. Top price quoted was $5.95 for the 200 to 210-pound division. An estimated 9000 salable hogs were shipped in for sale today. Vealers ‘sold steady with yesterday’s early prices. Top was quoted at $13. Fat lamb and yearling prices advanced 25 cents. Jan. Top Rcpis.|Jan, Top Repts. 17 ...$ 5.95 €899] 20 ....$ 6.10 3500 7603) 22 .... 5.95 , 5.95 7131
18 ... 5.95 . 19 ... 6.10 8934] 23 .....
Barrows and Gilts | Good and Choice—
120- 140 $ 4.6( 0- 160. 160300 0-
220-
Packing Sows oi 20od and Choice— 0} 270- 300. $ : 75- 82 4.00 330. -4.75- 4.85 4.65- 4.80
}. 4.50- 4.75 .. 4.40- 4.60 4.15- 4.45
4.00- 4.65 Slaughter Pigs ec IMedium and Good— 60 5.00- 5.75] 90- 120. Slaughter Cattle & Vealers (Receitis: 2035) Steers 4 Bul ice— l(Yearlings 750- 800 #10.75-11.50/Good $ 900-1100. 10. 75-11.50|Sausage— 1100-1300. 10.25-11.25/Good ... 300-1500. 10. 00-11.00/Medium . |Cutter and 9.00-10. 2 9.00-10.50| 8.50-10. 09 300d an 8.25- 8.7 00d a4
%ic ommon an 7.75- 9. 0) 7.50- 8.25/C
' on
oom dame FTES
Brenna en en
4 7! 30! 3
- -3
1s excluded) 6.50- 7.00
6.75- 7.25 6 25- 7.00
12.00-13.00
1100- 1300. Common— 750-1100. 6.15- 7.75 7150-1100. 6.75- 7.75 Mis Steers, Heifers
ed— |Choice— Sg 750. 9.75-11. 00) 3% 500- = 300. 8.50- 9. 75! Gopa-~ eifers - 800. Choice— | 300 -1950. 150- 900. 9.75-10.75 Medium — Good—- | 500-1000. SL 900. 8.50- 9.95, Commons $00 1 900. 7.50- 8.75] Com |Go ood a 6.50- 7.50! 500 down $9. 95 211.00
500- 900 ows | Mediu: 6.25- 6.75 500 me. 8.00- 9.25 . 5.50- 6.25] Calves (heifers)
Cattle, C (Beceipts, 563) . Steers
9. 8.50-
8.007.75-
7.006.00- 7.00
Calves (steers) nd Choice
500- 700
edium— | cutter)... 4.00- 4.50 500 down. 7.50- 8.75 SHEEP AND LAMBS (Receipts, 1791) Lambs
Good and choice Medium and good 8.25- 8.75 C n 8.00
Ewes (on shorn basis)
Good and choice Common and medium
CHICAGO LIVESTOCK
Hogs—Receipts, 21,000; few early sales steady; Jniel sade slow, mostly 5@1 5.65; bulk good anit choice 1 , Ki [email protected]; 240-270 lbs., generally [email protected]; most 270-300 1b. butchers, $4,[email protected]: good and choice 100-150 -lb. underweights, $422. 75; good 400-500 Ib. paskin a # [email protected]; lighter weights up Cattle—Receipts, 8000; calves, 1000; general market draggy; fed steers and yearlings and comparative shortfed yearling heifers predominating in run; fed steers and yearlings steady to weak; most grades | of yearlings Hang steady; early top, $12: some held higher; best mediumweights, $11.50; weighty steers under pressure unless strictly choice; common and medium Jrades in" moderate supply: mostly $7.25@8. shipper demand narrow, especially for heavy cattle; light heifers steady, but weighty medium to good cowy kinds very dull; weak to 25c lower; best light heifers, $10; ulk cows dull at [email protected]; @ 5.50; canners, [email protected]; beef bulls dull and weak at $6.50@7, but sausage offerings fully steady. up to $7.50; vealers, 50C to $1 lower: practical top, $12.50; few early $13, stocker and feeder trade a little broader, mostly $7.25@9. Sheep—Receipts, 12,000; late Monda fat lambs and yearlings strong to 15¢ higher; sheep steady; lamb top, $9.60; bulk 29. sed 2 i foo ve yearlings, $8; western ewes, natives, [email protected]; today’s an Tat lambs anr yearlings weak to 15¢ lower; good to choice lambs mostly $9.25 down: limited numbers upward Yo [email protected] to local packers; three decks good slaughter yearlings, $8.15; sheep steady; top fed western ewes, $5.10; scattered natives, [email protected].
OTHER LIVESTOCK
CINCINNATI, Jan. 23 (U. P.).— Hogs — Salable, 3000; fairly active; price frend very uneven owing te revision of schedule; some weights steady, others as much as 15¢ both ways; Welghts under 160 1bs., 15¢ higher; sows steady: top. $5: 220-240 1bs.. [email protected]; 108- 140 lbs... [email protected]; sows mostly $4 dow Cattle—Salable, 450: calves, salable, 400; total, 400; fresh salable supply very light: most sales about steady to weak: small lot baby beef type heifers, : load around 675 lb. good grade, $9.35; others medium to good, [email protected]: odd steers, [email protected]; Dractical’ Sop sausage bulls, $7.25; vealers steady: Sheep—Receipts, near teady; mostly odds and ends; sizeable tots choice 86 1b. fed western lambs, $9.50; few good native, LE and . medium grades,
FT. Nay NE Ind., Jan Hogs steady: 00-226 lbs bs.. $5.65; 60- Ap 1bs.. bs., Bo 1bs.
5-35 jv 2180 5 hs, $1; st Ds ugns, y Stags, ; calves, $12.50; lambs, $9. 2% 43
AFAYETTE, Ind., Jan oy in wa steady: 160-200 3 sods @5. 20 250 1bs., [email protected]; 250: 325 lbs., $4. 6 Pigs, steady; Jouen s, $4.50. Calves, EA 50. Lambs, $8.75@9.
Curb Stocks
5 h Low Afym Co 4 Am...1
2.50- 3.50
. (U. P.)— 8. 75; 180-200 5; 55: 220-240 1bs., 5.3! 260-280 1 $2.50 } $4.65;
Net Last Change 148 ey + P +14 6 =i 16
%
Cent St El 7 pt. Cities Serv Com & So wits. Con Biscuit
[ Des ID _ S83 ©
ro Min Hollinger Humble Oil ....
m No Ind = 6 t ot Noe » 1 on oe ‘Taggart Cp . Ter anicolor Se Gas Wright Hors “3
U.S. STATEMENT
WASHINGTON, Jan. 23 (U. P.).—G ernment expenses and receipts for the current fiscal year through. Jan. 20, compared with a ear ago:
This Yea. Expenses . $8, 255, 158, *l46. 18 $5, bere fas ind 13 Receipts ,943, FH 771.78 3 138, 193,766.25 Gross Dt. 2303. 40 18961 88
ot VO 0 HNO 3
1)
LHF + HELE]
7,721.7 9 57.87 39.568. 1487, 667.17 ld Res. .17.834. 967,743.45 14,619, ,908.912.68 Customs .. 203,182)920.10 180,503,080.57
INDIANAPOLIS CLEARING HOUSE
Clearings $2,983,000 6,752,000
- See Final Edition of the Times for Closing Stock Quotations
and Other Late News
4.00- 4.85| A
|Goo 5.50i 500 down $8.75- 9.75 ¢ Medi
$'9.00- 9.35 &
+1 day.
urer, all of Indianapolis;
Net High Last allegh Sud Stl. All 18 4 sk ote of Am SS
Am ha ay & SS . Am Roll Mill . Am Smelt Am Stl Fdies. .. Am T&T Am Water w.. Anaconda Armour Ill Armstrong Ck. . Auburn Auto ..
Aviation Corp.. 6%
Balt & Ohio ... 5% Beatrice Cr.... 27%
Briggs Mfg Bklyn-M T ... Budd Wheel . Burroughs Bush Term .
Samppell Wy Can Pacific ...
i I & Climax Moly Co 37 Cluett Peab .. 373 Colgate-P-P . Hise Col ® Broadcast A 32 ol Broadcast B 231 Colum Gas .... Son Credit
il baby £
BIC = OY
+i:
BY COM CONN a ST
g:
ny OWNIN abd
+
Grown Zetlor of
Davison Chem . Deere & Co ...
East Kodak . : +1805 . 303%
- BB
d Mot 4 Ted et, pf A 103% 105%
an ar oo B21 Gen C Gen
Gen Foo
anby we Greyhound Co . Guant Sug pf..
Hack Wat .... 311% Hanna 5 pt’ “i Herc Pdr .... . 89
180%; 55% 36 12Ys 523, 34%
Int Business M. 13014 Int Flaryegter. ; Int . Int
1802 55Y4 36 12Ya 52%, 34%,
Kroger G & B 28% 287s
3° 3 I 21
287
Leh V Coal P.. hma ro
Loft, Inc 2273 Lekheed Arcft. 287
3: Ya 34 ¥:
4% - 2% 28% 2% 1 6 36
2can > For. Mac
wo 1 : 45% 1172
M A M M M M MN M M M
Mullins pf .... 32° ly
WAGE EARNER'S COST OF LIVING DIPS AGAIN
The American wage earner’s cost of living declined in December for the
tional Industrial Conference Board reported today.
0.5 per cent from November to December and that the purchasing value of the dollar for the same period showed a rise of 0.4 per cent.
The board’s index placed Decem-|
+ | ber living costs at 85.3 per cent of]
the 1923 average, compared: with
8185.7 per cent in November.
Food prices declined 1.4 per cent from the November average, and rents were down 0.1 per cent, but all
other items of the wage earner’s
budget were unchanged for the month.
“WHEAT DROPS CENT; OTHER GRAINS SLIP|
CHICAGO, Jan. 23 (U.P).— Wheat eased nearly a cent in early trading on the Board of Trade toWeakness in other commodities influenced selling and, kept buyers on the sidelines.
future at 997% cents a bushel. Corn
3% cent, rye off 12 to 1 cent, and
.| soybeans 1% to 2 cents lower.
FOOD PRICES
CHICAGO, Jan 23 (U. P.).— Ne Michigan Mackintosh, bu., $1 1.25. Sweet Potatoes—Tennessee, bu., $1. Isai: 45. Celery—Michigan Crates, ode 25 Tomatoes—Texas Jugs. $1. — Texas, :bu.. $1.35 alse" Cal fornia crates, $1.40 California crates, $2.25@ 4 ket (50-1b. sacks)—Michi, Idaho Sweet Spanish. 727:@77%c; Colorado Sweet Spanish, 77%ec.
LOCAL PRODUCE
Heavy breed hens, 5 lbs. and over, 13c; under 5 1bs.. 10c; Leghorn hens, 7c; Barred and White Rook roasters, 4 lbs. and over, 12c; under 4 Ibs.. 9¢; colored roasters, 4 Ibs. and over, 10c; under 4 1bs., 9¢; heavy breed stags, 7c: Leghorn 8 gs, ; Leghorn broilers, 2 Ibs. and over, 9¢; capons, Bk 8c; 8 1bs, 23d over, l4c. y fresh country eggs, 15¢ (each full case must wei 55 he: t deduction of 15 gents for each bs. will be
ross; a net ull case under
S51Waek AZO .....icsvviironiss
2|Pac G & El
Yellow Tr
NEW YORK, Jan. 23 (U, P).—|o
third consecutive month, the Na-|i}
The board found that actual liv-|1} ing costs for wage earners dipped |X Ind Pub 8
-At the end of the first hour wheat . was off 5% to 7% cent, with the May |B
: change:
Elected by Indiana Architects
Edward D. James of Indianapolis is the new president of the Indiana Society of Architects. Other officers elected at Lafayette Saturday are (left to right, front row) Richard C. Lennox, first vice president; Mr. James: John R. Kelley, secretary, and Richard K. Zimmerly, treas(back row) Walter Scholer, Lafayette; Herbert Foltz, Indianapolis, directors; Wilbur B. Shook, Indianapolis, retiring president; Ralph O. Yeager, Terre Haute, director. Ralph E. Legeman, Evansville, second vice president,
was not included in the above photograph.
N. Y. STOCKS
By UNITED PRESS:
Richard Schaaff, Ft. Wayne;
DOW-JONES STOCK AVERAGES 30 INDUSTRIALS —0.51 +1.02 —0.58 +0.03
Yesterday
Month Azo Year Ago High, 1939-40, 155.92; low. 121.44. High, 1938. 158.41; low. 98.95. 20 RAILROADS Evi sit ease vee vari 30.15 30.33 . 31.37
Yesterday Week Ago Month Ago Year Ago High, 1939-40, 35.90; low. 24.14. High, 1938, 33.98: low. 19.00. 15 UTILITIES Yesterday Week Ago Month Ag0 .......es. Year Ago A High. 1939-40. 27.10; low. 20.71. High, 1938. 25.19; low, 15.14. High Nat Biscuit ... 314
Cash Reg 15% Nat Distillers. . els
Net Last Change Ya Ys
Ys Ya Nat Steel .,... Ya N Y Central ... No Am Avn No Pacific
++. +) +4]
Ohio Oil
i 3/4 3 Omnibus pf .....104 104
Pee 33%
Pleifter-Brew io Phila Read C I Phillips Pet ... Pillsbury
Pullman Purity Bak ...
Rayonier Rayonier pf ... 27
1% 18% y 113% b B ... 41% 41% Reaaelq Oil .. 7% T% Safewa Scott Pap Seabd A
ocony Vacuum 1 Spiege quare td Brands ... G&E
terl Prod tudebaker
Themp Star pf
a 20th Cent-Fox. 113%
lis . 94 . 15% «i OT he 25, bia 1 82%
Un Pacific ...
. Vanadium
Valgreen valworth 26%
5 22% 407, 19%
17%
LOCAL ISSUES
The [ollowing Sho Notations by the Indianapolis Bond & sent actual price aD: but merel dicate the apProximate market level based on buying and sellinz Juotaiiony of recent transactions. Bid As 1
Wortrington ...
55%
d.. N Ind Pub Serv "7% 20 Progress Laundry Pub Serv. Co of Ind 69% pfd.. PUL Svs) ond is pid o In as - 1 Terre Haute Elec % pid. ea
Van Camp Milk m Van Camp Milk com
Bonds American Loan 5s or ra ee. 98 American Loan, 53 46 Citizens Ind T ee sy Co 5 Home T&T Ft Wayne 5Y2¢ Home T&T Ft W ayne 6% 43. nd Asso Tel £e 2 % 5 TRACK] ge ndpls ailway ne 5% 67. . ndpls Water Co 3%. nterstate T&T 5% % 101 Kokomo Water Wars 5% 58..104% Kuhner Packing Co 4% % ». .100 Morris 8&10c Stores 5% 65 .. Muncie Water Works 5% 65. . Nat Silk Ly 5s 4
Noblesville
Ch hicago Sis
Allis Chalmers & Co
was Off % to % cent, oats off % to|Shiagd, Co
WAGON WHEAT
Indianapolis rain elevators are vaying ir wheat, 95¢c; subject to mark * citer grades
She, eligw. their merits. 2 White, To. 2 aoe 0.
on ghelled. 53¢;: No. 2 white oats, 34c.
THE INDIANAPOLIS TIMES
5 BANKS HERE
PAGE n:
LISTED IN TOP
Indiana National Country’s 57th Largest, - Survey By Paper Shows.
Times Special NEW YCRK, Jan. 23.—Five Indianapolis banks today were listed by the American Banker daily as being among the nation’s 200 largest banks. They are the Indiana National Bank, American National Bank, Fletcher Trust Ce., Merchants National Bank and Union Trust Co. With deposits of $129,566,156 as of Dec. 31, 1939, the Indiana National Bank ranked 57th in the nation. In 1938 it was rated 54th with deposits of $119,497,250 and in 1937 it ranked 59th with deposits of $110,545,154. * The American National Bank was rated 159th in the country with deposits of $40,503,182 on Dec. 31, 1939. The year previous it was 163d with deposits of $35,216,567. Fletcher Trust Co.’s deposits of $38,438,637 on Dec. 31, 1939, placed it in 168th place. On Dec. 31, 1938, it was 157th with deposits of $37,121,648. Merchants National Bank ranked 183d with deposits of $36,289,025 on Dec. 31, 1939, as compared with 182d place a year previous with deposits of $32,199,581. Union Trust Co.’s deposits of $34,459.265 on Dec. 31, 1939, placed it in 188th place as compared with deposits of $20,184,492 for 277th place the year’ before. The banking daily said the greatest deposit increases in history took place last year.: New York City’s Chase National Bank with deposits of $2,803,700,000, a $569,400,000 increase, and the National City Bank of New York, with deposits of $2,331,200,000, a $495,900,000 increase,
s|led the list.
{Today these two American banks are the largest non-governmental banking institutions in the world,” the daily declared, “exceeding by a large margin Britain's ‘Big Five’ in volume of deposits.” The increase in deposits was attributed to imports of gold, financing of U. S. Government agency borrowings and increase in loans to business and industry. “Loan demand improved somewhat during the last half of 1939, but still lagged far behind deposit increase, resulting in huge excess reserves for the banking system,” the daily said.
Judge to Speak Judge Smiley Chambers of Marion County Probate Court will speak at the Indianapolis Chapter of Chart-
: ered Life Underwriters luncheon
Thursday in the Columbia Club. Guy Morrison will preside and C. Fred Davis is program chairman. The meeting is the first of a series of information seminars in legal, estate and business problems associated with life underwriting sponsored by the chapter.
% New Books Listed
The Indianapolis Public Library’s Business Branch at Ohio and N. Meridian Sts. has prepared a new list of recent books on factory management. The list of 65 books is available free at the library for dis- | ¥1 tribution among employees, omcials said.
Pomeroy Scheduled
Donald T. Pomeroy, Syracuse, N. Y., vice president of the Na-
7 | tional Association of Real Estate
Boards for the central Atlantic region, will address the Indianapolis Real Estate Board Thursday noon. The luncheon will be in Hotel Washington. Mr. Pomeroy’s ~ subject will be “Real Estate in 1940.” Guy H. Williams, Indianapolis board president, will be in charge, assisted by Ray‘mond A. Franke, vice president, who made arrangements.
DAILY PRICE INDEX
NEW YORK, Jan. 23 (U. P.).—
k | Dun & Bradstreet’s daily weighted
price index of 30 basic commodities compiled for United Press (1930- 32
2 average equals 100):
Yesterday .........cnvesian. 121.35 Week G80 ..vsssssersvsessss. 121.66 MODth 980 ......iiviseveses 122.53 Year ago ceonstes 105.69 1939-40 High (Dec. 18) ...... 124.19 1939-40 Low (July.24) ...... 101.40
New Business Books Available at Library
The following new business books are available at the Business Branch of the Indianapolis Public Library:
RIKES: A STUDY IN QUANTITAMVE ECONOMICS, by John I. Griffin—‘‘Measurable concepts of the problems of strikes, their number, the aggregation of workers involved, their duration, final gains and losses together wih the setting of these vari-
ables in time.” LIFE IHS GRANCE by John H. Mat jor a university
gee—A complete tex corse in life insura. DIES hn TRUST BUSINESS, phenson—‘‘The trust ix bp G Tt. 8 se an assured place in g8cis] and economic order of the na-
BosToN CONFERENCE ON DISTRIBUTION, 193%—“An annual picture of the economic forces and res affectin the distribution of OO 00!
AT T YOU WRITE, by: - Ponald Campbell—*‘ Things which all beginners have always wanted : know, about ‘marketing what ns ite.’
&
200 OF NATION
Marsh to Speak
Sam A. Marsh, associate professor of accounting at Washington University, St. Louis, will speak to the Indianapolis chapter of the National Association of Cosi Accountants at: Hotel Antlers ballroom Thursday night. His subject will be “The Analysis and Revision of Price Policy to Meet Present Day Problems.” Charles A. Atkinson, works accountant for | the Cummins Engine Co., will be discussion leader.
TAX NEWS JARS STOCK MARKET
After Morgenthau Statement.
By UNITED PRESS
News that Treasury = Secretary. Morgenthau suggested the possibility. of increased taxes and a rise in the debt limit to 50 billion dollars unsettled the New York stock market today after early firmness. / Many early gains were turned into losses. However, there was no rush to sell and a sizeable group of stocks held gains. Steel issues turned irregular. Chrysler replaced a small gain with a 25 cent decline. Small declines were noted in American Can, A. T. & T. Consolidated Edison, Loew’s, Pennsylvania Railroad, = SoconyVacuum and U. S. Rubber. Aside from the Morgenthau statement, there was nothing in the news to sway prices, experts said. Indications of a gain in building for 1940 sustained the building group. Coppers held well in the face of price cuis for the metal. High rail earnings kept the carrier group in a narrow range.
lation to the U. S. dollar in quiet foreign exchange dealings. Cotton futures lost nearly $2 a bale to highlight a generally easier trend in major commodity. staples. The sharp break in domestic cotton reflected easiness in Liverpool where the market closed with net losses of 25 points, the permissible one-day trading limit.
Incorporations
“Fountain Oil Co. Inc., Covington; agent, Wayne Miller, Covington: 160 shares no par value, prospecting for oil, gas and other materials; Wayne Millér, Donald Clark, Ww. Dice, Henry B. Coats, Floyd B. or ouisbiond.
poration; merged into Liggett Drug Co., nc., a Pennsylvania corporation.
T. J. Der Wholesale Liquor Co., Mo.; registration of “Bond Brook,” “Old 1889 Bra “White Seal,” class 48; distilled ‘alcoholic liquors. R. R.
State Line Motor Corp., 4, Box 302, South Bend: agent, Ciyde C. Gunyon, same address; 1000 shares no par value; manufacture and sell automobiles, trucks, ete.; Clyde C. Gunyon, Louis O. Geipel,
Donald Ra ay. Mock Motor Sales, Inc., 4023 E. 10th
St., Indianapolis; agent, Edward J. Mock, 4621 Brookville Road, Indianapolis; 100 shares no par value; sell new and used automobiles and accessories; Edward J. Moc helma Mock, John L. Okey. Mary M. Okey. Columbus Little Theater, Inc., Chamber of Commerce Rooms City Hall, Columbus: no capital stock; to encourage interest in fine arts; Charles W. Butler Gordon G Miller, Mrs. Margaret Schmitt, Robert Schaerges. Albert E. Schumaker, Mrs. Laura M. Long. Nash-Lafayette Sales. Inc.. South Bend; amendment changing name ‘to Axtell Moors, Inc
Guarant hiss tion
Finance Co., Inc. Indianapoamendment of articles of incorpora-
% Exacting . . ..
land more recently,
Some Securities Lose Gains |
World currencies steadied in re- |
May Drug Co., Inc., Delaware cor-|
TONIGHT
7:30—Horace Heidt, WIRE. 7:30—Information Please, WLS. 8:00—We, the People, WFBM. 9:00—Bob Hope, WIRE. 9:00—Glenn Miller, WFBM. Thomas E. Dewey will be on the air again tonight in: his campaign to win the Republican nomination for the Presidency. He will address a Boston rally, and via NBC-Blue, the nation’s listeners, at 6:30°0’clock. ” ® » Oscar Levant, pianist, composer author (“A Smattering of Ignorance”), will be back on “Information Please” for his regular fortnightly appearance .at 7:30 p. m, NBC-WLS. The .guest of honor will be the distinguished Irish actor of Broadway and Hollywood fame, Dudley Digges. Someone recently totted up Mr. Levant’s batting average since he began answering questions for the popular Tuesday quiz session, and found that the Omniscient Oscar is hitting a .950 clip. Which ought to go a long way toward refuting the old impression that musicians are wrapped up in their jobs to the exclusion of other interests and knowledge. Mr. Digges will be the second Irish guest in as many weeks, since the eminent Dr. St. John Gogarty graced the board of experts last session. However, Mr. Digges scarcely
~ ON THE RADIO
for he has spent the better et of
the last 36 years in this country.
] 2 x = Sam Jaffe, who was a Tibetan lama in “Lost Horizon” and a Hindu in “Gunga Din,” now becomes an American Indian for tonight's production of “The Strange Friend of the Pilgrims,” by the Cavalcade of Amefica (8 o'clock, NBC-WENR), Hell play Squanto, the amazing redskin who nearly scared the Pilgrim Fathers back to England by greeting them in English when they arrived. ” ” ” Among tonight's “We, the Peoe ple” guests (8 p. m., CBS-WFBM) will be Capt. Zeb Tilton, who finally got: up courage to propose after 50 years—with the help of radio. Cap'n Zeb, who's a seafaring man, courted Miss Grace McDonald for a half-century. Then, one night on the “We, the People” broadcast, he popped the question while the whole country listened in. He was accept ed, too. Mrs. Tilton will come along tonight. } » » » Don Ameche will star for a cig-aret-sponsored show on one of the major networks as soon as time can be cleared. . . . And Rudy, Vallee will be back on a Thursday spot in March. “Good News” will be cut to 30 minutes and Rudy will take the
can qualify as a genuine Irishman,
INDIANAPOLIS WFBM. 1230 (CBS Net.) Kathleen Norris en Store Hollvyweo Scattergood
Billy & uetty
Girl Alone Midstream Dik Reed Dessa Byrd
Spelling Bee Basono ogy S. Reports Allen Prescott
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News Jimmie Fidler Second Husband Treasure Hunt
Dick Reed Biz, Town Missing Heirs ”» "oe
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Tony & Bill __ Rhythm Concert
Glenn Miller Hoosier Talent
Singing Cop Sos and Andy
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WEDNESDAY
Recordings
INDIANAPOLIS © WFBM 1230 (CBS Net.) Early Birds Dawn Patrol pe 9”, Markets ” ”»
Dawn Patrol ”» ”» » » ” » ” » News News
Freddie Miller City Today Good Morning Air Ritchen Ensemble Miss Julia
Kitty Kelly Myrt 2nd Marge Hillto Stopmether 10:00 Jerry. Cooper 10:15 Short Stories hoad of rife 0:30 Big Sist Against Storm 0:43 Jenny's Ste Neories Guiding Light
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1:15 Girl Marries 8 Farm Circle 11:4 45 ” ”
12: 12:00 Keller Bros.
12:15 News 2:30 itty Keene 12:45 oon Tunes ' ny Ross 1:00 Lan Beuy
1:15 uartet i issi Valiant Lady wh A y a8 on Betty Crocker
da Mary Marlin doves, °Girl Ma Perkins Air, , School Pepper Young z Vie & Sade
Linda's Love
Farm Hou Markets. Reporter Headlines
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:00 Three-quarter Time | 3:15 Hits & Bits Stella Dallas 3:30 Wirges Presents Lorenzo Jones 3: 5 ) __ Smil in’ gd Widder Brown
4: 4:00 ) Kathleen Norris Girl Alone 4:15 Golden Store i 4:30 Hollywood 4:45 Scattergood
Dessa Byrd
Johnny Presents ” ”
Crummitt, Sand.
INDIANAPOLIS WIRE 1400 (NBC-MBS)
'Editor’s Daughter Devotional Man | Married
usie Gems Woman in White Master Singers Woman of of Courage Rhsthmakers Home. Folks "Weather Janeh Fol Bill J
sicale m’s Daughter Harlin Bros,
Backstage Wife
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RADIO TUESDAY EVENING
(The Indianapolis Times is not responsible for INacenraties in program announ.ements caused by station changes after press tim
INDIANAPOL. WIRE 1400 (NBC-MRBS)
Sane WLS-WENR 870 (NBC Net.)
Radio Neighbors
Anthony Dinning Sisters
Junior Theater Children’s Story
18 CINCINNATI LW 00 (NBC-MBS) Kitty Keene Midstream Jack Armstrong Invitation
. News Baker and Denton Bud Barton Once Upon Time Tom Mix Lowell Thomas
Easy Ace Pleasure Time Jost Persons
DeZarik Sisters Aldrich , Family
Information PleaseHeidt’s ”» »n ”»
Melody firove Inside Sports
Johnnv Presents ” ”» Or. ”n
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America ,Cavalcade Crummit, Sand. Mr, Weeks Fibber - McGee
Bob, Hope
Doghouse Ted Weems ’ »
10 Clock Final , » ” » ”
Peter Grant Ted Weems Jimmy James ” ” { Kassel’s Or. Barney Rapp
Savitt’s Or, Moon River ” ”» ” ”
PROGRAMS INDIANAPOLIS CINCINNAT1 WIBC 1050 ° (NBC-MBS)
Devotional Musketeers
Breakfast ‘Jam » ” ”» "».
Mornin’ Checkerboard Time to Shine News Gospel Singer Lulu Belle
Caravan Julia Blake Cotton Queen ews
Man )} Married Other Wife
Plain Bil) Little White House Linda's Love
- Against Storm Guiding Light
Vie & Sade O’Neills Farm Hour ”» »
New: Good Morning 'ootlights
Melody Lane | Dr., Swing
Friendly | House
Public Schools Varieties |
Rhythms
Boy un Gir! ”» ”
Ellen Randolph Fditor's Daughter Pater Grant
Betty and Bob Grimm's Daughter Valiant Lady Betty Crocker
Mary Marlin Ma Perkins Pepner Young Unannounced 3 o’clock Club Backstage Wife Steps in Jive Sica I Dallas ss
Memories Julia Today’s Music Beautiful Life Kitty Keene
Streamlined Swing ! Midstream
Blues Chasers Jack Armstrong
Serenade A ilen String Serenade
ones Tommy Sutton
Mu
Band Box Haven of Rest
Piano Moods Riley Hospital Concert Hour
KEY NETWORK STATIONS (Subject to change): CBS—WABC, 860; WJR, 750; WHAS, 820; KMOX, 1090; WBBM, 770. NBC-BLUE -WJZ, 160; WOWO, 1160; NBC-RED—WEAF. 660: WTAM. 1070; WWJ, 920; WMAQ, 670. MUTUAL=—-WOR, 710; WHK, 1390; WHKC, 640; CKLW, 1030; WSM, 850.
WLS-WENR, 870; KWK, 1350,
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