Indianapolis Times, Indianapolis, Marion County, 6 February 1940 — Page 15

TUESDAY, FEB. 6, 1940

PRICES FIRMER IN SLIM TRADE ONN.Y. BOARD

Recent Favorites Attract Little Following; . Bonds Steady.

By UNITED PRESS

A firmer tone developed on the New York stock market in late morning dealings today after early irregularity. Volume was light. Recent favorites among the lowpriced shares turned dull. SoconyVacuum picked up in activity and equaled its low for the year. Loft, which has consistently topped the active list, was quieter with the price steady. The same was true of Continental Motors. Brooklyn-Manhattan Transit made a new high at $17, up 37% cents. Eastman Kodak made a new low for the year at $154.75, off $1.75. Homestake Mining made a new low 2nd Caterpillar Tractor equaled its ow. Bethlehem Steel rose nearly $1 and other steels were fractionally higher. Coppers were steady to firm. Motors picked up after opening steady. Railroad issues and mercantile shares were narrowly mixed. Aviations, rubbers and rayon stocks were firm. A few special issues moved outside a one-point area but most changes were fractional. . Cotton futures were steady in quiet trading. : German. and British interests continued a lively tussle on the Rumanian Stock Exchange for oil shares. Prices advanced sharply on top of recent gains. Heavy industry shares registered improvement in otherwise dull trading on the London Stock Exchange. The advance in heavy industrials reflected reports of a new armaments drive.

Net Last Change 9914 — 1 157% + 3% 34 "evs 36 6Ys 62 113% 23%

Low 99%

y. wre Am Gas & E... Bald Loco ws .

Breeze Corp .... Brewster Aero.. Carrier Corp .. C U.

5 Bet =, Sh... quity ST Fansteel Ret .v Fisk Rubber ...

ong Isl Lt .. ajestic R&T . Middle West Cp 9 olybdenum ... 6 ont yd A..152

FOOD PRICES

CHICAGO, Feb. 6 (U, P.), — Apples— Michigan Mackintosh, bu. [email protected]. Sweet Potatoes — Tennessee, bu. $1.35@ 1.45. Celery—Michigan, crates, 65c@$1.25. Tomatoes—Michigan, lugs, $4.25. Spinach —~California, bu.. $1.75. Cauliflower—California, crates, [email protected]. Carrots—California, crates, [email protected]. Onion Market (50-1b. sacks) — Minnesota Yellows, 80c; Michigan Yellows, 85c@$l: Idaho Sweet

Spanish, 80@83c; Illinois Yellows, 65@85c. |G

LOCAL ISSUES

The following glotations hy the Indianapolis Bond & Share Corp. do not represent actual price offerings, but merely indicate the approximate market level based on buying and selling quotations of recent transactions Stocks Bid Ask Agents Finance Co com...... 1% 9 1t RR 56 71 15 53Y2

Cent Ind. Pow 79% pfd Hook Drugs Inc com Home T&T Ft Wayne 7% & Mich Elec 7% pfd Gen Sery pfd jygro

13 pfd. 50% j03%

N Ind Pub Progress Laundry Pub Serv Co of Ind 6% oe Pub Serv Co of Ind 7% pfd.. So Ind Gas & Elec 4.8% pfd.. Terre Haute Elec pfd

Van Camp Mik pfd Van Camp Milk com....... . Bonds American Loan 5s 51... American Loan 5s 46. Citizens Ind Tel 4'2s 61 Crabbs-Reynolds-Taylor Co 5s. Home T&T Ft Wayne 529% 55.10 Home T&T Ft Wayne 6% 43... nd Asso Tel Co 412% 56..... nd Tel Co 5% 60 Indpls Railway Inc 59% 67 Indpls Water Co 3%% Interstate T&T 52% Kokomo Water Works 5% Kuhner Packing Co 412% | Morris 5&10 Stores 5% ...10 Muncie Water Works 5% 65... Nat Silk Hosiery 5s 42 . .... Noblesville HL&P 82% 47

: 99 Richmond W ...103% | Trac Term Corp 5% 57 . Ki

See Final Edition of the Times for

Closing Stock Quotations and Other Late News

SEG D EXCURSIONS

SPECIAL ROUND TRIP COACH FARES Good on Specified Trains Only= For Details Consult Agents

+ SATURDAY NIGHT, JANUARY 27

$7.00 PITTSBURGH SUNDAY MORNING, JANUARY 28 $2.50 LOUISVILLE $3.75 COLUMBUS $2.25 DAYTON $1.50 RICHMOND

Returning leave destination Sun. Night

EIB |B

Phon: Riley 9331

IRIN

No. 8

“Your Federal Income Tax

Credit for Dependents and Exemption Must Be Prorated if Status Changes. or

” ” 2 » ” 2

Exemptions Allowed Married Couples

Taxpayers should note that under the Internal Revenue Code the credit for dependents as well as the personal exemption is required to be prorated where a change of status occurs during the taxable year, and that these credits are allowable not only for the purpose of computing the normal tax but also the surtax. A fractional part of a month is to be disregarded unless it amounts to more than half a month, in which case it. is considered a month. For example, a single man and a single woman who were married on July 20, 1939, and lived together

during the remainder of the year would be entitled to

a personal exemption of $2208.34 in a joint return for the calendar year 1639, which amount is seven-twelfth of $1000 for the husband while single, plus seven-twelfths of $1000 for the wife while single, plus five-twelfths of $2500 for the period during which they were married. If separate returns are filed, each is entitled to a personal exemption of $1104.17, which is seven-twelfths of $1000 plus one-half of five twelfths of $2500. If during the year 1939 the husband or the wife had the status of the head of a family prior to their marriage, he or she would be entitled to his or her prorata share of the personal exemption of $2500 allowed the head of a family for the period prior to their marriage instead of merely that allowed a single person. ® 8 = 2 = = However, for the riod of their marriage any exemption to which either might 9 entitled as the head of a family would be merged in the joint personal exemption for that period. The joint personal exemption allowable in the case of a couple who were married and living together during the entire year may not exceed $2500. If a child under 18 years of age and dependent upon the parent for support reaches the age of 18 years during the taxable year, the credit of $400 for a dependent is required to be prorated in the same manner as the personal exemption. For example, should the child’s eighteenth birthday fall on June 30, the parent would be entitled to claim $200 credit for the dependent child—that is, . one-half of $400. The same rule applies to other dependents where a change of status occurs during the taxable year.

N.Y. STOCKS

By UNITED PRESS

DOW-JONES STOCK AVERAGES 30 INDUSTRIALS

—li . High Air Reduce .... 49% Allegh Lud Stl.. 20% Allis-Chal :.... 36% Am Air Lines.. 47 Am Can pf ....174 Am Car Pdy. 24% Am Car & F pf 42% Am-Haw SS... 31

Net Last Change 2 Ya

—0.59 —0.63 —1.50 -—0.93

Yesterday Week ago . Month ago Year ago High, 1940, 152.80; low, 144.65, High, 1939, 155.92: low, 121.44, 20 RAILROADS 3

Yesterday Week ago Month ago Year ago High, 1940, 32.6%: low, 30.15. High, 1939, 35.90; low, 24.14. 15 UTILITIES : ae EE Rhee rere 24.68 24.93 26.05 24.92

5% 2678 23% 9

1 Yesterday 21%

Week azo Month a0 .....cceoecveasens Year ago : High, 1940, 26.45; low, 24.61. High, 1939, 27.10; low, 20.71.

Atl C ene Atl Refining ...

Beech-N Pkg . Bendix Avn ... 30 Bond Stores ... Borden Borg-Warner .

122 30% 22% 23Y 22Y, 167s

= RII BI IND

: Net Last Change 8 4+ Ys 21% +

‘High Low NY NH a 3 21% 21%

urlington M .. ve

Ohio Oil 67s Omnibus pf ...10 Otis El 1

Carriers & Gen 3 c 5 ev... 17

hi Pn Tool pf. Childs Chrysler 81 Climax Moly Co Com Inv ... 55

6% 105°

Paramt Pict _.. T's Parker Rst Prf 213% Penney 814

hil Jns_ pf 10enix 0s .. r 111%

.e 8 / . 26% wth 4 Ae ‘ dort Ric-Am B. 14 —D— Broder & G.. Se Dist Seag ..... 19s 19% : u erv ... Dixie Vortex .. 13 13 p Pub Ser hy --111% Douglas Airc .. 81% 81% ! urity Bak ... 15% Du Pont 179% 179% ed Po m Rand 34 83 East Air Lines.. 29% 29% a Ais a [a East Kodak ..'153/3 158% Rom Rand efww 43: 492 ec wr oe 1 Elec St Bat .... 30 4 30 . Richfield Oil.. mm Vs

=P Savage Arms... 27 t L SoW

Curtiss Wr ..

15%

Fid Phen ...... 39%2 39%

Gen Electric.... 38% Gen Mills pf ...130 Gen Motors ... 52% Gen Rty&U ... Graham Paige.. 1's Granite C 3 t Nor Ore ... Gt Nor pf

Socony-Vacuum. Am Gold ...

14 223, —— 31% 57%

a whe 31% V i iil 57% Std G & E pf.. Studebaker .... 1

Holland Furn .. Homestake

seve

Inland Stl ... Texas Corp ... 43% 43 Th Star ... 2 2Ya & W_ Air 14% 14% Tide W A Oil .. 103 10% Int T&T =... i ~~ Int T&T For... Union B & P .. 13%

Kresge SS ees 25%

ely 25% Kroger G&B ... 287

287s

3% 3 3% 3s viseene 315% NY Lerner Strs .... 28 28 Libby McN&L.. 7 7 Ligg & My _....107%2 107% Ligg & My B...108'2 1082 Lockheed Airc.. 31 - Loft. Inc 23% Lorillard 245s Lou G&EA . 19% M— 2 34 24% 5

Ya aie 9Y, M ls134 5194 Motor Prod ... 11¥s 111s Murray ....... 6% 6%

Leh V Coal pl.. Leh Val RR ... Lehman

Vanadiu 3012 4 | Van_Raalte .... 38! 38 Va ElI&P 6 pf..117 117 —W W Pa El 7 pf ..1113% 111% West Auto Sup. 35'%2 35% West Air Bke.. 23'2 231; Wheel Steel ... 29 29 Wilson pf 591, 591, Woolworth .... 40% 403%

—Y— Young Sheet .. 39% 39% 74 —

323 + Zenith Rad .... 14%

PURDUE COURSE IN CONCRETE OFFERED

Times Special LAFAYETTE, Ind. Feb. 6.—The first short course in ready mixed concrete at Purdue University will be held Thursday and Friday, Feb. 8-9, under the direction of the Civil Engineering School and Engineering Extension Department. R. B. Crepps, assistant professor of testing materials, said the first day will be devoted to the technical production side. of the problem. R. S. Phillips of the Portland Cement Association, Chicago, will Jemonsirase basic principles of Cast 0, concrete mix design as well as|Wrk. Bal 138, characteristics of finished concrete. Gold Bos: 1 '947.990:900.18 _ Prof. R. B. Wiley, Civil Engineer- | Customs. BAe M010 ing School head, will be principal speaker at the informal dinner Thursday night. Friday’s program will include discussions of marketing advertising, promotion and delivery with plant operators joining in a round-table discussion.

Chicago Stocks

Am Pub Serv pf ...... . Asbestos Mfg .... ve * Athey Tr I. 5 ] N } »vmies : Poimont Radio Japan (yen Eas Faw 5 Mexico (peso)

30% 30%

38 117

MacAn

& ¥or.. 34 3 k Tr 24 1%

35%

Neo » 23% 23

Nat Distillers N . 32%

YC Omnibus

—

141,

DAILY PRICE INDE

NEW YORK, Feb. 6 (U. P.).— Dun & Bradstreet’s daily weighted Price index of 30 basic commodities compiled for United Press (1930-32 average equals 100): Yesterday WEB 880. viovnenissisasiane Month ago ....... XEAr A800 .......i 00d, 1940 High (Jan. 2) ......... 1940 Low (Feb. 3)

1445

118.96, 119.66 122.67 104.93 12304 118.98

U. S. STATEMENT

WASHINGTON, Feb. 6 (U. P.).—G - ment expenses and receipts for the current fiscal year Hiroush Feb. 3, compared with

a year ag This ¥ s Year Last Year Expenses $5,578.772.764. Receipt 141.745.31333 *3:390 13.363:

se esecccse

SDB aseororacecn SP Wea

ed ts is E11 LO EO OC ft $451]

.896,011 190,828,087.

INDIANAPOLIS CLEARING HOUSE Clearings Debits

FOREIGN EXCHANGE

NEW YORK, Feb. 8 (U. P.).— are noon cable rates on major iE

Cable Rates Net 3.89 Change

+.0000)2 -+.0007%

ith Edison Consol Oil

Dixie—Vortex Elec Househd .. Gen M

Without obligation consult

"THE

Montg No'west Bancp .

Rollins Hos Serr orp B

PAST BUDGETS HAD NO PLAN,’

Says ‘Emergency’ Items Furnish Only Part of - New Increases.

(This is the second of two articles on the Battle of the Budget, as interpreted by John T. Flynn, noted economist.)

By JOHN T. FLYNN Times Special Writer The main point to be kept in mind about our budgets during the last seven years is that there has been no plan, no real policy behind them. I do not mean that there has been no policy behind many of the social reforms .of . the Government, on which generally everybody is in accord. But there is a very great difference between reform and recovery. The only idea behind our budgets

spend it to keep the economic system afloat. And all this without very much thought to the evils we were piling up which would sooner or later be more serious than the ones we fled from. For when this budget era ends— which must be very soon—we will be where we started in 1933, but with this difference—that we will be so overburdened with debt that we cannot escape by borrowing. ? The budget this year on its face exhibits a deficit of $1,816,000,000. But ‘actually it is far more than that. Based on our present revenue sources, it is $2,276,000,000. But it is worse than that, if we want to face the facts honestly. The President hopes to use $700,000,000 of various Government corporation surpluses and he hopes for a half billion increase in taxes from the present rates. There is plenty of wishful thinking in both these notions. , ‘Emergency’ Persists The most serious thing about this budget is this: When the budget was heavily unbalanced in 1933, after a promise of a billion reduction, the President explained that this was due wholly to entergency items. All of the items in the ordinary government departments were cut. As soon as the emergency passed, he explained, we could discontinue the emergency expenditures and we would have a budget far below 1932. : But that is no longer true. If all the emergency items were taken out of this budget we would still be far and away beyond the old 1932 mark. Increases in the ordinary expenditures of the government have been made everywhere upon -the most lavish scale. For instance, take the President’s

own department—the White House g

and its offices. In Hoover’s last year the White House appropriation was $369,000. This year it is $2,972,000.

Bookkeeping ‘Savings’ :

If you look at the budget. figures for the Treasury you will see that the cost in 1933 was $267,000,000,

«| while this year it will be $164,000,000.

That looks like a big saving. But

2 | back in 1933 most government build-

ing was charged to the Treasury Department. Now it is in a differ-

. ent department.

. To compare 1933 and 1941 we

propriations which are not allocated to the Treasury any more. When we do that we find that the cost in 1933 was $145,000,000 and in 1941 it will be $164,000,000—or nearly $20,000,000 more. The same

7s! is true of most other departments. 1

While all the recovery and relief services have been cut by over $800,000,000, the ordinary expenses of the government have been increased and the war preparations have been enormously increased. The course of Congress ought to be as follows: 1. The ordinary expenses of the Government should be subjected to the most drastic economy. 2. The grandiose plan of a gigantic fleet for wars we have no business in should be abondoned and a fleet for national defense

| alone (and not offense) maintained.

3. Payments’ for relief and recovery which do not promise any revenue to the Government should be paid for out of taxes levied on incomes. ; 4. Payments for relief or recovery which can take the form of true revenue—may be continued for

provided the assets produced equal the obligation assumed by the — ernment,

understanding of what we been doing by these ra deficits—recognize them for what they are, a necessary evil at best. We should quit praising them as the source of our safety.

LOCAL PRODUCE

Heavy breed hens, 5 lbs. an under 5 1bs., 10c; Leghorn held To: Bars and White Rock roasters, 4 lbs. and over llc, under 4 lbs. 9c; heavy breed stags. Ih. Sd ver BE: canons 5 Soh Ler 18¢, 8 Ibs. And over, Toe 2 Ios. and over, 0. strictly fresh - 20c; (each full case must. ans SE gross; a net deduction of 15¢ for each full case under 55 lbs. will be made). Butter—No. 1, 341.@35¢c; No. 2 32%2@ 33c; butterfat, No. 1. 28c: No 2 g7o> 2 (Prices quoted hy Wadley Co.)

BUSINESS AT A GLANCE

By UNITED PRESS

December exports of chemica, related products from U. S. 8 a at $23,102,500, highest since October vs. $13,525,500 year ago; four months ended Dec. 31, exports, $87,000,000 vs. $47,000,000 year ago, up 85 per cent. Oil and Gas Journal estimates week ended Feb. 3 crude oil output averaged 3511953 barrels daily, off 120.355 from previous week. ? merican Woolen Co., Inc. - solidated net profit ( excluding Textile Realty Co.) $2,311,894 vs. net oss i in 1938. /. T. Grant .Co. Janua s $5,931,006 vs. $5,531,067 pes, 7.2 per cent; 12 months’ sales, $103,761,668 vs. $97,516,419 previous 12

.! months, up 6.4 per cent.

CAN YOU AFFORD

to suffer a loss, because of insufficient or the entire lack of -Insurance to protect your property and valuables? :

our Insurance Department

UNION TRUST COMPANY

+ CAPITAL AND SURPLUS $3,000,000.00

THE INDIANAPOLIS TIMES

WRITES FLYNN|

has been to borrow money and}

The President wants $3,573,000 for|™ a next year.

must take out all the building ap~|M

the time being on borrowed funds |$:?

Department of Commerce reports PA

~ Clinic Speaker

- George S. Wells will speak at the Cost Clinic of the Indianapolis Chapter of the National " Association of Cost Accountants at 7:30 p. m. tomorrow at Indiana University Extension building. Mr. Wells, a Purdue University graduate who has been with J. D. Adams Manufacturing Co. 18 years and their industrial accountant the last 15 years, will speak on “Estimating and Experimental Costs.”

HOGS SELL AT STEADY PRICES

Receipts at Stockyards Here Total 6500; Top Paid Is $5.85.

| Hog prices remained unchanged at the Union Stockyards here today, according to the Agricultural Marketing Service. Top price quoted was $5.85 on the 200 to 210-pound division. Vealers were steady with a $11.50 top. Lambs sold weak .to 25 cents lower. Top Recpts.| Feb. Top Recpts. 8 58 2 gE 8 10418 5.85 6266

i Jan, 31 eb. 1 4537 6 ... 2... 58 5998i

Barrows and Gilts | Packing Sows ood and Choice— |Good and Choice— 140 $ 4.45- 5.00| 270- 300 $ 4.70- 4.80 4.75- 5.70] 3 0. 4.60- 4.75 .80! 330 4.45- 4.70 4.35- 4.60 4.25- 4.40 4.15- 4.30

500 3.85- 4.60 Slaughter Pigs Medium and Good— 90- 120. 3.75- 4.60

Vealers (Receipts, 2035)

140- 160 60- 1 70300- 330. 330- 360. Medi

Slaughter Cattle

Steers ; Bulls yice— (Yearlings excluded) . $5.75-10.50, 300d ....$.6.25- 8.7 . 8.50-10.25|Sausage— . 10.00-11.25|Good .... 6.75- 7.00 . 10.00-11.00/Medium.. 6.00- 6.75 Cutter and common. 5.00- 6.25 Vealers

Good and choice.. 18.50-11.50

Common and medium... 7.00-10.50 1 5.00- 7.00

Feeder, Stocker Cattle, Calves (Receipts, 419) Steers Choice— 00- 800.. 00-1950. .:

od— - 800.. -1950..

6.50- 7.50 Steers, Heifers

Mixed| 9.75-11.00

00- 750 - ood — 9.00- 9.75 8.25~ 9.75 if G

8.50- 9.00

8.00- 9.00 7.75- 8.75

7.00- 8.00

500- 900.. 6.00- 7.00 . Calves (steers) Good and Choice— 5 .. 9.25-11.00

1M 6.75 8.00- 9.25

6.25] *"Calves (heifers) Good— ? 5.50! 500 down.. 8.75- 9.75

cutter).. 4.00- 4.50 podium 7.50- 8.75 SHEFP AND LAMBS (Receipts, 2590) Lambs Good and choice Medium and good Common

$ 9.15- 9.25 8.50- 9.00 6.50- 8.25

Ewes (on shorn basis)

Good and choice Common and medium

CHICAGO LIVESTOCK

Hogs—Receipts, 19.000; opened steady to 10 cents lower: § 1 ts lower eig n grades: bul od and choice 180-240 lbs., 5@5. i mo: 00 1bs.,

4.00- 5.00 2.75- 4.00

$4.50@5: most ) few lighter weights around $4.60. Cattle—Receipts, 8000; calves, 1200: very dull trade on steers and heifers; shipper demand narrow: local killers bearing down: general market steady to 25 cents lower: killing quality mostly medium to ood: strictly good and choice steers uner pressure; best early $11.50 paid choice yearlings; strictly choice weighty steers hid around $12; largely $8@10 market with common to medium grades, 7.25@ 8: stockers dull: best light heifers. $9; choice kinds absent: wieghty medium heifers dull; cows steadv on canners and cutters; weak on beef cows selling $5.25 upward: heavy sausage bulls steady. [email protected]; fat bulls . $6.75 down: vealers weak at $11.50 down: bulk steers unsold; good many without bids

Sheep—Receipts. 8000; late Monday fat lambs steady to weak: bulk, [email protected]; tcp, $9.35: near choice fed northwestern vearlings. $8.50: sheep steady: bulk ewes, own: few, $5; c quotably g : today’s trade fat lambs opening slow: early sales about steady: good to choice wooled offerings 102 lbs. down, [email protected] to shippers and packers: best held $9.35 above;

and undertone around

OTHER LIVESTOCK

CINCINNATI, Feb. 8 (U. P.).—Hogs— Salable, 1800. Active on very light supply, steady to 10 cents higher. Advance on 180 lbs. up; top $6: 220-240 lbs., [email protected]; 100-1 lbs., [email protected]; sows mostly $4

own. Cattle—Salable, . 350. Calves — 300. Salable supply light, steers, - yearlings and heifers steady to easy. Other classes about steady but undertone weak. lots 550-650-1b. heifers and mixed yearlings, $8.50@9; mniedium, [email protected]; common down to $6; odd steers good to $95; bulk sharing, [email protected]: few, [email protected];. fat

sausage bulls, $7.25. il Sheep—300. Steady with recent sessions. Around 125 head good to choice 68-84-1b. clipped native lambs, $8.50; ood an choice wooled offerings quoted [email protected]; common and medium, [email protected]; culled, $6.50 and less. :

FT. WAYNE, Hogs—b5 cents Bigher; $5.60;

Ind.,, Feb. 6 (U. 200--20 1lbs., 160-180

P.).—

LAFAYETTE, Ind., Feb. 6 (U. P.).—Hog market steady, -2 1bs.. [email protected]; 200-250 1bs., [email protected]; 250-325 1bs., $4.80 @5.20; pigs, $4.75; roughs, $4.50; calves, $10.50@11; lambs, $9.

WAGON WHEAT Indianap rain elevators are paying change: y

corn; No. 2 § “white, shelled. 5

olis ed w

| cilities.

5. We should wake up to a clear stesdy on ‘sheep; scattered ewes, $4.25@ | Nehri

beef cows jargeis, $5.50@6; practical top| Lou

PITMAN-MOORE

00. HERE OPENS “NEW BRANCHES

Drug Firm's Distributing Centers at Columbus, 0., Denver, Atlanta.

Opening of three new branches of Pitman-Moore Co., local drug manu-; facturers, was announced today. They are located in Atlanta, Denver and Columbus, O.

The additional distributing centers make 40 now maintained by the company from coast to coast. The branches opened last year in Los Angeles, San Francisco and Portland, Ore., furnished the company’s own West Coast distributing means. The last three branches “give us a rather complete system of distribution,” according to Frank V. Hawkins, secretary. Mr. Hawkins revealed that business last year was “greatest in the company’s history.”

The Pittman-Moore Co. last fall moved into its new $500,000 office building at 1200 Madison Ave., which nearly doubled its Indianapolis faIn addition, the makers of pharmaceutical and biological products have biological laboratories on a T0-acre tract southeast of Zionsville, Ind. Nearly 400 persons are employed by the firm which was founded on July 1, 1899, by Harry C. Pittman and John C. Myers. It was originally housed in small rented quarters near the city limits, but in 1905 erected its own building at 111-117 N. Capitol Ave. After that structure was outgrown a new laboratory was erected in 1924 at Madison Ave., Morris and Delaware Sts. It is still being utilized. The Zionsville unit was established in 1911 when Harry C. Moore became president. . Carl N. Angst is now president; James E. Bartlett, vice president; L. M. Burnette, treasurer, and Mr. Hawkins, secretary.. In commenting on the fact that less raw drugs are being imported to Indianapolis from foreign countries than formerly, Mr. Hawkins said: that “some drugs are now be-

ing grown in America, but probably |

most important is the fact that synthetics have begun to displace the raw product. Then, too, drug manufacturers increased their supplies on hand last fall and thus don’t need to import so much at the present.”

Kiwanis to Hear Weiss

Charles R. Weiss, Link-Belt Co. chief engineer, will speak tomorrow noon at the Kiwanis Club meeting in the Columbia Club on “LinkBelt and its Influence on Nation's Business.” Mr. Weiss, a University of Pennsylvania graduate, has been with the company since 1909.

Discusses Transportation

B. E. Young of Washington, D. C., representative of the Association of American Railroads, will speak at the Indianapolis Club meeting tomorrow at the Claypool Hotel. His subject will be

“Transportation Fables and Facts.”| -

Miller to Speak

“Dusty” Miller, Wilmington, O,, humorist, will speak to the Fletcher Trust Men’s Club at the Athenaeum tomorrow night. Vernon - Roth, of the Fletcher Trust Co. bond department, club president, will preside. Reports of the bowling league and - billiard tournament and other athletic activities, will he made at the meeting.

| Guests have been invited from In-

dianapolis and nearby cities to hear Mr. Miller's talk.

Realtors Report Sales

North Side Realtors transactions last week totaled $13¢,200, according to Jack C. Carr, secretary. Thus far this year sales have totaled $257,675, he added. Guests at the group's luncheon yesterday at the Canary Cottage were Guy H. Williams, Indianapolis Real Estate Board president; Raymond A. Franke, vice president; and Fred T. Reed of the Fletcher Avenue Savings and Loan Associaion. :

incorporations

Young Peoples’ Democratic and Social Association, Inc., 321 Lafayette Life Bldg. Latasente; no capital stock; political an al; John Dewenter, Rober Arthur Ungetsma. - Community Development Co., Inc., 1051 Broadway, Gary; agent, Paul E. Behieichel 5, 1.

Deerr,

4365 Adams St., Gary: 100 shares of $1 par valle; real estate business; Paul Schleicher, James Hansen, Russell FI

. B. Deed, Inc. 5505 Howard Ave, Hammond; agent, Harold B. ed, same address; 500 shares preferred of $100 par value and 500 shares common no par value; roofing and building materials business; Harold B. Reed, Frank J. Galvin,

Mary V. Reed. Rose & Katz, Inc., 131 N. Main S8t., South Bend: agent, Louis E. Rose, same address; 1500 shares class A common an 500 shares class B common no par value; operate men's clothing stores: Louis # Rose, Julius M. Katz, J. Walter Yeagley. Nagdeman’s, Inc., East Chicago; disso0 <i

Peacock | Coal Co., Inc., Shelburne; change of agent to John Brown, Shelburne. Saxony Mills, St. Louis. Mo.: registration “IXL,” Saxony ills, St. ingredients

enrig.

Few | lution

ark, , Mo.."! class 45: foods an of foods. Northern | Oil Corp., Delaware corporation; admitted to Indiana to prospect for

d| oil or gas

Canyon Pipe Line Co., Illinois .corporation; admitted to Indiana to prospect for oil and gas, Advertising Accessories, Inc., Delaware corporation; admitted to Indiana to manufacture advertising material, accessories and devices. minals Corp., 510 N. Harrison St., agent, Lowell G. Ash, same shares no par value; dealing gasoline and other petroleum owell . Ash, Clarence E. auer, Julius Malkemus, M. A. Bauer, L. J. Connolly. So

TYPEWRITER

WE ‘WILL

BUY

CPS. I] AND 12 | ow FROM | FLETCHER AMERICAN NATIONAL BANK CTFS.

NEWTON DD

415 Lemcke ‘Bldg.

Oldest

sas The CHICA

146 EAST WASHINGTON ST.

on Everything! Diamonds, Watches, tes, Cameras,

Clothing, Shotguns, Ete.

oO Store

Lions Zi

TONIGHT

7:30—Horace Heidt, WIRE. 7:30—Information Please, WLS. 8:00—We, the People, WFBM. 9:00—Bob Hope, WFBM. 9:00—Glenn Miller, WFBM.

Both the President and Mrs. Roosevelt will broadcast this week

in connection with the American Youth Congress now meeting in

‘| Washington. f

= Mrs. Roosevelt’s talk is scheduled for broadcast by CBS at 5:15 p. m. today, during a round table discussion of young women’s unemployment problems. The President will address Youth Congress members at 11:30 a. .m. Saturday, same network. wh 8 ” ”

Mr. Roosevelt’s predecessor, a regular broadcaster recently, will be a guest on tonight’s “We, the People” program (8 o'clock, CBSWFBM). Mr. Hoover will be appearing primarily in the interest of the Finnish Relief Fund, but it also is promised that he will tell something of his life story, as is the “We, the People” custom. Next month Gabriel Heatter is going to take “We, the People” on tour, winding up eventually in Hollywood. Mutual will rebroadcast a BBC transmission of a speech by Oliver Stanley, Great Britain's newly ap-

pointed Minister of War, at 9 a. m. pit: 8 »

INDIANAPOLIS WFBM 1230 (CBS Net.)

athleen Norris Gir) Alone a Store Midstream Dik Reed Scattergood O’Neills Billy & isettv Safety Program Ainton Wells European News

Spelling Bee Dessa Byrd S. Reports Allen Prescott

Pleasure Time Mvsterv Treasure Hunt Dick Reed

News Jimmie Fidler Second [Husband Biz, Town

Missing Heirs Heidt's Or.

2 2 RADIO TUESDAY EVENING

(The Indianapolis Times is not respunsible for inaccuracies in ments caused by station changes after press time.)

INDIANAPOL WIRE 1400 (NBC-MBS)

Johnny Presents

tomorrow. Mr. Stanley, who succeeded Leslie Hore-Belisha, will speak on “The Progress of the War.” ” ® ” WIBC is co-operating with the National Committee for Music Appreciation by devoting its regular afternoon ocncert hour to the albums which the committee is offer-

ing for sale. Tomorrow ab 2:30 Pp. m. you may fat a broadcast of the Beethoven Fifth Symphony. This is the second broadcast of the series. | : 5 = 2 : It seems that Fr inklin P. Adams the ‘Information. Please” standby, was impelled toward a career by George ae This, go cording to Mr. Adams, was when the quiz program expert was selling fire insurance back in 1901. Soliciting Wsinest: he visited Mr, Ade on Feb. 22. “He was having breakfast at 11 o'clock in the morning, and strawberries—not a common breakfast for 1901, when we didn’t have strawberries until June. [So I thought ‘a writer’s life for mine.” Mr. Adams has done all right in the ensuing years. | Tonight he’ll be back with John Kieran and Oscar Levant. And the newcomer will be Nunnally Johnson, screen writer who did the script for the current hit, “The Grapes of Wrath.”

® | = program announces

18 CHICAGO { WLS-WENR 870 |

(NBC Net.) Radio Neighbors

CINCINNATI WLW 00 (NBC-MBS) Kitty Keene Midstre.

am Jack Armstrong Invitation News Baker and Denton nce Upon Time owell Thomas leasure Time

ews elody firove Inside Sports

Johnny Presents ”» »

Anthonv Betty Barrett Junior Theater Children’s Stories

Bud Barton

*Tom Mix

Easy Aces Lost Persons

News Magnolia Blossoms Aldrich Family

Information Please Heidt’s Or. 3 ”» ”» {» »

We the " People

Xony & Bill Rhythm Concert Glenn Miller Hoosier Talent

Singing Cop

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Fibber McGee

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Bob, Hope

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America [Cavalcade Crummit, Sand. Mr. Weeks Fibber McGee Shield’s ,,fevue

Concert Ted Weems

Hob, Hops Doghouse

Amos and Andy News Bob, Crosby

News Gov. Phillips

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Paul Sullivan Recordings Eddie Duchin » 144 Herbeck’s Or. ” “ ’ Orin Tucker

INDIANAPOLIS WFBM 1230 (CBS Net.)

Early Birds Dawn | Patrol ”» ” k

Markets Dawn Patrol

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”» ”» ”» ”» ”» » News

Freddie Miller Good Morning Ensemble Miss Julia

Kitty Kelly Myrt and Marge Hillton Stepmother

Short Story Life Begins Big Sister Jenny’s Stories Kate Smith Girl Marries Farm Circle

Basonaology News

City Today Air Ritchen

Wife Plain Bill

David | Harum hoad of 1iife Against Storm Guiding Light

Soh S| OLOL | XXWK| crsleter

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Singin® Dr. Mal Woman Linda's Love

Farm Hour Markets. Reporter Headlines

Betty & Bob

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The Kellers ews itty Keene oon Tunes

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eeler Mission vy Son & 1

Society Girl uartet Air | School

Valiant Ladv Betty Crocker

Mary Marka Ma Perkins Pepper) Young Vie & | Sade

Outside Looking In » ”

" Editor's Danghter Devotional n | Married

Woman in White Master Singers

one of Courage Rhythmakers

Grimm’s Daughter Harlin

Grant eems anny Weeks Al Jahn = | Barney Rapp

10 O'clock Final Peter » ”» Ted

» ”n Guy, Lombardo

Savitt’s Or. Moon River ” ”n 1» ”

WEDNESDAY PROGRAMS INDIANAPOLIS WIRE 1400 (NBC-MBS)

{ CINCINNATI

INDIANAPOLIS WIBC 1050 * (NBC-MBS)

Mornin’ Checkerboard

Time to Shine News - Gospel Lulu Be

Caravan Julia Blake Cotton Queen News

Devotional usketeers

Breakfast Jam » » Singer » ”» lle News Bright Spot Footlights

Man 1 Married Other Wife Plain Bill Little White House

Linda's Love Road »f Life Against Storm Guiding Light Happiness O'Neills Farm Hour » »

ems In Melody

Friendly ,, House

Public Schools Varieties

~ Rhvthms ” ”»

Boy and Girl

Ranch Boys koa,

Weather Home Folks Ellen Randolph Bi Edit

or’'s Péter G

Betty and Bob Grimm's Daughter Valiant Lady Betty Crocker

Mary Marlin Ma Perkins . Pepper Young Vic & Sade

ill Jones Tommy Sutton

Musicale Bros, Band Box Haven of Rest

Piano Moods Safety Program Concert Hour

's Daughter rant

ella Dallas Lorenzo Jones Widder Brown

Hits & Wirges

Smilin’

202990 10102920 | mim iis SBT 53535853 £353

Presents Ed

Three-quarter Time Backstage Wife Bits 11

13 o’clock Club Steps in Jive Request ,, Time

Backstage Wife Stella Dallas Miss Julia Beautiful Life

Kathleen Norris Golden Store Hollywood Scattergood

ads Sy S353

Girl Alone Midstream Dick Reed ONeills

Kittv Keene idstream Jack Armstrong . String Serenade

Dr. Swing Question-Air {Around Town

KEY NETWORK STATIONS (Subject to change): CBS—WABC, 860; WIR, 750; WHAS, 820; KMOX, 1090; WBBM, 770. NBC-BLUE -WJ%, 760; WOWO, 1160; WLS-WENR, 870: KWK, 1350. NBC-RED-—WEAF, 660: WTAM. 1070; WWJ, 920; WMAQ, 670. MUTUAL—WOR, 719; WHK, 1390: WHKC, 640; CKLW, 1030; WSM, 850.

A. T. & T. BUILDING BILL $86,518,000

NEW YORK, Feb. 6 (U. P).— The American Telephone & Telegraph Co. will spend about $86,518,000 for new construction in the first quarter of 1940, it was announced today. i The A. T. & T., parent concern of the Bell System, said that its construction budget for the period was 24 per cent larger than for the first quarter of 1939. The Bell System spent about $300,000,000 on plant improvements and new construction in 1239, and indications were that 1940 would see an expenditure greater than any since 1931 when construction cost about $391,000,000.

TRUST C SERVICE

¢| American National Bank

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PAGE 15

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