Indianapolis Times, Indianapolis, Marion County, 13 February 1940 — Page 13

TUESDAY,/ ‘FEB. 18, 1940

NEW YORK, Feb. 13.—The President recently handed out to the reporters some more or less amazing statistics. They turned out to be a little unfortunate, but for this the \ President is hardly to be blamed. Some of his visitors or aids hand him these statements and he has a way of using them without examining them too closely. This will account for his telling -the reporters that state and local debts had been reduced by as much as the Federal - Government debt had been increased so that the total government debt was the same as it was in 1933. * What is difficult to understand = how the President could be taken in|" by such a statement. To begin with, the national debt increased between 1932 and 1939 by $19,000,000,000. The President is familiar with this figure. Now his point was that while this was taking place the debts of states, county and city governments decreased sufficiently to cancel this increase in the federal

debt. 28 8

OF COURSE THIS would mean | cpogee.

that while the Federal debt was increasing by $19,000,000,000, the state and local debts were decreasing by $19,000,000,000. The question then is—did the

state and locdl debts decrease by|}

$19,000,000,000 between 1932 and 1939? According to the Statistical Abstract, published by Mr. Roosevelt's Treasury Department, the total

state, county, city and other local |Good—

debts in 1932 was $17,577,000,000. They could not therefore be reduced by $19,000,000,000.

would have been wiped out. And if Mr. Roosevelt's statement were true, it would mean that not a state, city or county in the United States owed a nickel to anyone. 2 8 =

OF COURSE THAT is not true, as everyone knows. The simple truth is that these state and local debts have been reduced by only a trivial sum and that the total debts of all government units, including the Federal Government, has increased from $37,000,000,000 in 1932 to $59,000,000,000 And this does not include more than five billion dollars of bonds fully guaranteed by the Federal Government. Of course, mistakes for a few doljars or a few hundred thousand or even a few hundred million can easily be made by public officials dealing in such large figures, but. it is a little strange that the President of the United States should actually boast that by increasing the Federal debt he improved business so much that every state, city and

county in the nation had paid off =

its indebtedness.

Curb Stocks

Net High Last Change Ya

- oT Bn 168% 168 T Xx ‘3% : EA

EL 3% —1-16

B Bd&Sh 6 pf. 61

ie oe 14k Gt ors

oo pa ces

DUEL LE LHR 4 Hd 14]

ub! Le I&Stl.. St Regis Paper. al Lock

See Final Edition of the Times for

Closing Stock Quotations ‘and Other Late News

‘Grain Dealers RITTTHIA

FIRE — CASUALTY AUTOMOBILE INLAND MARINE

INSURANCE at substantial savings

Ha. 3000 |

If they Go . had been reduced that much they on

4 | roughs, $4. 3 {lambs, [email protected]

PORKERS DROP 15 GENTS HERE: VEALERS GAIN

Lighter Weights Sell Dime’

Lower as 8000 Arrive; Sows Decline.

A 15-cent drop in prices for hogs weighing more than 200 pounds was made at the Union Stockyards here ‘today, the Agricultural Marketing Service reported. Lighter weights sold 10 cents lower.. The top quoted was $5.75 on the 200-to-210-pound division. Vealers were 50 cents higher, with a $11.50 top. An active lamb trade was accompanied by fully steady to strong prices.

Feb, £38 Rcepts. JES.

s3le

m 1 : :: oe 80 Me IE. 5.75 Barrows and Gilts | Packing Sows Good and Choice— PRT EW is 0; 5.40- 5.78] 330- 360. . 4.40- 4.60 .00=- 000 — 15% wm. 118 : B.15- 5.55/ 450- 500.." 4.00- 4.25 : "30- 5:35

.. 4.80- 4.95 500.. 3.75- 4.25 30- 35 360... . 4.75- 4.85 Slaughter Figs

|Med: and Good: 160- 200... 4.75- 5.50] 50. 120

358 { Re ts.

9888 5907

3.50- a. 65 Slaughter Cattle & Yealess CRevsivts, 2321) Steers

: ss Li Ls

. 102 . 1 00-11 . 10:00-11:00) 9.00-10.75 8.75-10.50 8.50-10.25 8.50- 9.75 c

. 1.50- 8.75 7.50- 8.50{Cull

6.50- 7.50 Heifers 9.75+11.00 8.25- 9.75 3 G

Jen J Cxcluded)

sa i .. 6.75- 7.00 Medium...

ed > 6.00- 6.75 utter an common _5.25- 6.00

Mixe 500- 750. 9.00- 9.75 8. 50- 9.00

8.00- 9.00 7.75- 8.75

7.00- 8.00 6.00

olre— 00- 800.. 0 .

500- 700. H

Chotce—' 350 900,

od— = 900. edium— - 900. Common-—-500- 900

9.25-10.75] 500; 8.25- 9.50] Common 7.25- 8.50 6.00- 7.25) 5

3 ill d

Medium’ Calves (heifers)

Good— 500 down.. 8.75- 9.75 edium— cutter).. 4.00- 4.50i 500 down.. 7.50- 8.75 SHEEP AND LAMBS (Receipts, 3080)

Lambs

Good and choice ....cc... eeee:$ 9.35. 9.50 Metiium al and good : 8. i 9. =

Ewes ton shorn basis) Good and choice Common and medium cessssse 39% 4.00 Hogs—Receipts, 21,000: opening slow; steady to 10 cents lower: daeor, Hale more active; mostly 5 to 1 nts $5. bulk good and Boia 80-330 ins '$5.35@ 5.60: 240 lbs., $5.35@5 5.50; 240-270 1bs., ans $ 05@s. .30; 0S 290-360-1b. butchers, $4.75@ Food 4 T400- 550-1b. packing sows, [email protected] 0 $4.65. e—Rece ge 8000: os 1200; very little done on rank and file medium to good grade fed steers; such grades predominating: most offerings carrying considerable weight: yearlings scarce; shippers and other buyers taking meager su plies: choice steers and yearlings stea y ; all other grades weak: ong i steers, $11.35; choice yearlings iq [34 1. fe 10. [email protected]; sprink-

loads weighty ight cattle, [email protected]; supply mainly merade short Feds: canner and cutter weighty cutters selling up to 5.35; bulls steady to waek; heavy. Sausage ulls’' ot $7.25; vealers steady at $10.25 t $10. 75: few Selects. $11; stock cattle du sh pts A 6000; late Monday fat lambs closed 25 to 40 cents higher sheep steady: wool lambs, 2 25 3:0: top. $9.45; 101-160-1b, lam bs 1 : slaughter 50@5; “today’s hat. fat lambs in *orgad Som nd; goog

8. 4. oF a: be

and better: sheep strong; double ens Tab. fed Nestern: ewes. %s 10. —

OTHER LIVESTOCK

CINCINNATI, Feb. 13 (U.

7 (U. P.).—Hog Salable, 3200; not established; bidding Boe

hogs offered 15¢ lower or $5.85 down. tle — Salable, 500; total, 525; calves, Coo: generally steady; few small ints light ‘yearlings and heifers,’ 38. ha 9.25; bu common and medium, $7.5 8.25: sters scarce, few common, 8 2 7.25; common to good fat beef cows, $5.50 ; canners and cutters steady, $4@

lower; most

@86.50; 5.50; shelly canners, $3.75 down; sausa| e bulls, $7.25 down; vealers, Say top, iN good and choice, $10@11. She 150; steady to strong; around 50 head “choice. around 80-lb. fed er, lambs, $9.50; good offerings, $9 common and mejum, [email protected]; sa an ewes, $3 down.

FT. WAYNE, Ind., Feb. 13 (U. P.).— Hogs—10 to 15 cents lower; 200-220 Ibs. s

Medium 1380. down... 8.00- 025

Charge ‘Missouri Company Gave Parties for - Legislators.

By WILLIS THORNTON ‘ Times Special Writer

right for hard-working state legislators to take holidays at pleasant lake resorts—but what if a utility company pays the bills? It’s all right for small towns to hold special elections on utility questions—but what if the utility concerned pays the expense of 10lding the elections?

if the money is “kicked back” to company officials personally, for use as an off-the-books slush fund? It’s all right to run for the state

| legislature—but. what if a dozen

candidates’ campaign expenses are paid by -a utility company? It’s all right to organize “taxpayers’ leagues”’—but what if ‘mysterious strangers appear and hand over cash for the league’s expenses? The Securities: and Exchange Commission ‘has questions like these on its hands today after long investigation of ‘the Union Electric Co. of Missouri. It is now deciding whether to call a public hearing or turn its evidence over to the Justice Department for action. Allegations before the SEC threaten, if upheld, to break into a scandal such as the utilities in-

vestigation of 1928. © For nearly two ‘years, operations of Union Electric have been ventilated, first by St. Louis newspapers, then by the SEC, then by a Federal Grand wy.

Inquiry Made

Union Electric is a holding company with six Subsidiaries, itself a

o subsidiary of the North American “71Co. It operates in and around St.

Louis and in nearby Illinois and|B Iowa. In October, 1938, it applied to the SEC for permission -to sell 130,000 shares of new stock. The SEC made the usual inquiry. It learned a lot of interesting things. It learned that Oscar F. Funk, vice president, had been ousted after repeated re-

law firms on the payprolpl at an an000.

volved in a two-million-dollar real

the Ozarks, a lake created by one of its power dams. Here parties were held at which the guest list included most of the members of the State Legislature.

Pay Election Expenses

Then City Councilmen and State legislators began to crop up with

ew|stories of payment of their cam-

paign expenses by representatives of the utility. | A candidate for the Legislature said he was offered (but refused) $1000 for campaign expenses. The towns of Washington and De Soto, Mo., provided evidence that their expenses in holding five

v | elections concerned with utility con- = tracts and franchises were paid by|El P & L the utility company, though no such [Fair th

donations appeared on the town Fid Va Fost-Whl pf... 71

books. The SEC found evidence supporting a leng series of such charges.

vestigation with izjunctions. Send ‘Trouble Shooter’

The parent North American company now sent in a “trouble-shoot-er,” William McClennan, to relieve Louis H. Egan as president. McClennan soon had plenty of trouble to shoot. Hermann Spoehrer, secretary, came to him with a story. This story, still a close secret,

00. | McClennan turned over to the SEC.

"$4.60; 350-400 Tf stags, $3: Ta Sit; 0 $9. :

LAFAYETTE, Ind, Feb, 13 (U. P.)— Hog—Market. i0 to 15 cents lower: Jo%200 1bs., [email protected]; 200-250 1bs., $5.20 250-325 1bs.. [email protected]; pigs, $4.90 hod sown: ‘calves, [email protected]:

DISTRIBUTION OF NEW

¢ {TRACTOR UNDER WAY

The farm horse, still an important factor in Indiana agriculture, was up against a new mechanical competitor today—the new,. one-ton, Ford-Ferguson tractor. Distribution of the lightweight tractor, which the makers expect to mechanize agriculture as completely as the Model-T Ford mechanized transportation, began yesterday in Indiana and Illinois through the Indiana Traction Sales .Co., Indianapolis. ? A carload of 25 brand new tractors arrived yesterday morning at the New York Central freight yards and the new machine was demonstrated to 125 company salesmen by Hugh 8. Jenkins, sales manager of the Ferguson-Sherman Manufacturing Co., Dearborn, Mich. Assisted by a staff of technicians from the factory, Mr. Jenkins® described the sales features of the tractor to the distributors at an all day session yesterday at Hotel Lincoln. A built-in: hydraulic mechanism raises and lowers the implements: and can keep them at a specified depth in the grounnd despite the tractor’s light weight, Mr. Jenkins said. It is light enough not to’ pack the land yet plows 28 inches wide, he added. The tractor was devel-

oped by Henry Ferguson, Dearborn||

engineer, in collaboration with Henry and Edsel Ford.

FOOD PRICES

CAGO, Feb. 13 (U, P.). Michi an dackintosh, xi

“Brokers m the

“The CHICAGO

Je EAST WASHINGTON ST

on on Everything!

Diamonds, Watches Watches, Autos, Cameras,

JEWELRY 60. mo.

Spoehrer then resigned. Cliarges were reported that an $85,000 fund was built up by the company which could be used for political contributions and lobbying (including lavish entertainment and gifts for public officers).

——No. 1}.

been required to file such returns.

gross income.

in the gross en for Federal

WASHINGTON, Feb. 13.—It’s all|

It’s all right for employees to turn in expense accounts—but what

dustry has not seen since the in-|4

fusal to OK certain large expense Cap accounts. It found 53 lawyers and!S&e

ISEC Pries Lid Off Union Electric Affairs : Public or Justice Department to Hear Results

Hermann Spoehrer . , » former

secretary, makes secret statement shooting” Weesident of Union

on Union Electric doings.

POLIS

TRADING LIGHT | - IN IRREGULAR

Steels Unaffected by - Output Drop.

STOCK MARKET

_|for the year at $180, up $I, and

‘| equipments were firm.

William McClennan... “Trouble Electric Co.

N.Y. STOCKS

Adams Exp. .

Air, .Reduc .... 52

m vac} \m Rad & 8 8 9 Am Suess 2 \m T se Am Water W.. 10 Am Woolen .... m Woolen pf.. Anaconda .... \tlas Corp Auburn Auto

4 4 £ 4 4 4 ¢ 4 4 4 { 4 £ ¢

of 1

a 319%

Low Last Change

8 81% sath ai + 6% Bt 18, ? 38

11 47 a1 7 1%

Hin . loi FSG

. . . oo

9 1337 ne 10%

10%

CRESS

SETIinE:

ats & 4%

somes

galt & Ohio...

57%

IEA bf 45} X Avn

Beth Steel

Beth su 5 oF'd 20 733° 20 Bigel

TOU, Butte Cop & Z 3

Canada . 20 San, ay 5

it Ad p* A. 40 . 28% anese pr ‘pt. ‘113

ote:

Ce. Cel

nual cost of from $100000 to $193,-|S It found the utility company in- | Shr}

The company became less co-opera- [Gen El tive, tried to hoid up the SEC in-

. 40

60; | estate venture around the Lake of]|cCo

Cot Cub.Am’ Sug Bt 85 Curtis i Cu ve eee 10 Curtiss-Wr A.. 29 Cutler-Ham ... 19

078 LE

Co Ya

—D—

Deere & CO ... 21 Det "Edizon » +122

Dist Se Bite. Vetex A.. 35 Pont ’ Bu Pont pf ....123

19% 3

Ya 188%

East Eodak od. +180 31%

Phen

Gen Baking Gen Cigar

G G GC G G G G Graham. Homestake .....

Hupp Motor ...

dian Bel ee erlake 3 Stic

f 3 Froovepter 's .

EERE

i T&T For .. 4

HR gy

HHH +

141:

2 So LUERR SWS

,aBhoons i444]

Johns-Man -.... 72%

Johns-M pf . ..125

Your Federal Income Tax

Salaries of State Employees and Officials Subject Fore To Federal Income Tax.

So»

Compensation of State Officers and Employees, For all taxable years beginning after Dec. 31, 1938, all officers or employees of states, or political subdivisions thereof, or any agency or instrumentality of any- - one or more of the foregoing, are required to include in gross income, for Federal income-tax purposes, the compensation received by them during the year as such officers or employees. The liability for filing Fed-

eral income-tax returns for 1939 and subsequent years will, therefore, extend to many individuals who previously have not

Retired officers and ‘employees of states, and political subdivisions thereof, or any agency or instrumentality of any one or more of the foregoing, who received in 1939 pensions or retirement annuities, based on the services rendered by them while in active Serve ice as such officers or employees, are r sions or annuities in gross income for Federal income-tax purs . poses. If the pension or annuity is paid in whole or in a fund derived from amounts deducted from the compensation of such officer or employee while in active service, the amounts s0, contributed are considered the “consideration paid” for the pension or annuity. ‘The amount received by the retired officer or em- ’ _ployee shall ‘be included in gross income each year to the extent of 3 per cent of the “consideration paid,” the balance of the - annuity payments being excluded in determining gross income for that year. When the aggregate of the amounts thus excluded from gross.income equals the “consideration paid,” the entire amount thereafter received as a pension or annuity must be included in

2 8 =»

‘These taxpayers are entitled to the same deductions and credits as are other taxpayers (explained in the instructions which accompany the income-tax returns, forms: 1040-A and 1040, distributed through the offices of the collectors of internal revenue), Dues paid by teachers to professional societies, the price of their subscriptions to educational journals connected with their pxofession, and traveling expenses, including railroad fares and meals and lodging; incurred in attending teachers’ conventions in the United States, if they are not reimbursed for such expenses, are deductible from the compensation received by them as teachers in determining net income for Federal income-tax p purposes. Records : Snel expenditures should be kept to substantiate the deductions

Campaign expenses and contributions made to political parties or organizations at any time are not deductible from the compens= sation which an individual receives after his election nor from any income which he may have received prior to his election. Campaign contributions received by a Sapditase for a public office are gifts, and not Jeong, 80 are hot required to be included

equired to include such pen-

72 7 13507 125

3h —

part from

By UNITED PRESS

8 Radio Repubiic St .. s|Reyn Met

8 Safe

DOW-JONES STOCK AVERAGES

30 INDUSTRIALS 8 | Saturday .... . 148.84 «os 145.93

0.10 <40.93 +1.02 «0.48

Month ag0 ...coce00e Year ago High, 1940, 152.80; low, 144.65. High, 19389, “155.92; low, 121.44,

20 RAILROADS

Saturday ce... eossenss 31.2% Week ago .. . Month ago <.... Year ago . High, 1940, High, 1939,

32.67; low, 30.15. _ 85.90; low, 24.14. 15 UTILITIES .. 24.95 sep septate 24.80 sussssnunes 5%

Saturday .....coeecenenenes Week ago ..... Month ago . Year ago High, 1940, 26.45; low, 24. hi High, 1939, 27.10; low, 20.71. -

157% 13% Hn

. 13 oe 13% -O-F Glass . 49 Lockheed Alreft 31;

H+ | Sees &

- . . -

ar tin artin C

LO! 0-k 0 Muel ull

TENTS FEF

HHH HL

Nat AVISHon «e oe 1 12}

meee

42 167 - 25%

ghlo oil .. 6% 6% 0% 10%

eel Qtitbrd Marine. 20% 29% Pi ¢ G&El ..... 33% 33% acifc Ltg ...

3% PaCkar DavisPan Am Air Ni Pan Am Airways 18% 18% 183% — Pan Am Air rts.17-16 17-16 17-16 . Paramt Pict ... TY% Wh TY, Parkea Davis .. 43Ya en & d 57 22%

25%

% ii 711 4 00T E 11 rons Stl ‘Car.. id

4 ve 6! Procter & ee 8 o alt 27! esse 15 15 Re

ceo 647 647% . 20 20 1 8 74 19%

dase Eee

FH]: +2

‘Purity Bak

f N. Raybestos

oe Ye Reyn Spring.... 17% Reyn Tob B

ob B.... Ruberoid . ...... 19%

SHE HE

eway St Jos ‘Lea Yi Schenley Dist . Schulte R . Seab'd Air 1 ab'd Air L of ars Roebuck.. Servel Inc... Shell Un Oil .. Socony-Vacuum

phi IH ES

. ’

SSE EE od

terl Ste udehaker

Sun Oil Superior aii Swift & ap ei

HHL

. .

Tenn COrP seoee Texas Corp

Tide Tri-Cont Truax Tra 20th Cent-Fox. Twin Cy R T..

Pridiiid

Union gap sone

BRE

bol] 4

Walgreen pf ww 94> Warner Bros ...

bit Sr

oe . . .

Wooiworth seen nH 41 wees 19 17 ‘17 sees = 1% in ap "3%

Yellow Tr Young Sheet .

Chsengy Stocks

|smaller than most traders antici-

|SECURITIES ACT

: Net ‘Last Change

"YOUR WILL—AND THE PART YOUR ATTORNEY PLAYS IS IMPORTANT

This Trust Company will be pleased to place at the disposal of your attorney and you its 48 years of practical experience in the probating of Wills and in the administration of Estates.

THE UNION TRUST COMPANY i - "Capital and Surplus $3,000,000.00

: . By ONITED PRESS "Strength in chemicals and motors

featured an irregular, narrow mov-|E. Sherwood already could have

ing New York stock market today. Volume was small, except in a few special issues. Allied Chemical made a new high

Union Carbide gained $1 to $84.50. Studebaker featured in volume and ran up to a new high at $12, up 87% cents. Chrysler and General Motors held small gains. Motor

Steel shares were narrowly mixed and made no re to the American Iron & . Steel Institute report on steel operating schedules. The industry is operating this week at 168.8 per cent of capacity, a decline of 2.9 points, or 4 per cent, from last week. The recession was

pated. Aviation and air line issues slipped back moderately. Rails and coppers were little. changed. Utilities were quiet with prices steady. Principal European currencies held about steady in dollar terms. Cotton futures were easy in moderately active trading. Security prices were firm on the London Stock EXchange, despite some profit-taking.

1S ATTACKED

Bankers He Resents ‘Implications?’

BLOOMINGTON, Ind, Feb. 13 (U. P.).—Philip W. Russell, broker . [2nd a member of the board of < | governors of the New York Stock %2| Exchange, last night attacked the Federal Securities Act of 1933 and the Securities Exchange Act of 1934

American bankers. “I deeply resent the constant implication ‘that men charged with responsibilities in matters of finance and in the security markets are lacking in public interest and in high moral responsibility,” he asserted at the second annual Indiana Banking Conference here. “It is difficult for me to avoid the conclusion that the legislation which has been enacted to effect reforms, if it is administered by

4 lin private initiative, may be very dangerous and that Government spending may be used not primarily to stimulate business but to take the place of private investment.”

were not “all bad” and could serve

“great abuse” as administered under “leftist philosophy.” Mr. Russell declared the free flow of capital is being restricted by the present application of the securities laws “so as to make the market no longer a real market where any amount of listed securities can immediately be turned into spendable money.” “Congress should review these acts in the light of experience and I repeat that in my opinion they are 75 per cent good in themselves, but that the philosophy of administration is bad,” he concluded. -

WHEAT GAINS AFTER EARLIER WEAKNESS

CHICAGO, Feb. Wheat prices receded slightly from early highs on the Chicago Board of Trade today and then tightened on the basis of strength at Kansas

nipeg.

99%. unchanged to 1 lower and rye off % cent to up %. Soy beans were off: % to 3% cent.

By UNITED PRESS Advertising Age reports week ended Feb. 3 retail advertising in newspapers of 80 major cities 16,154,655 lines vs. 14,839,584 previous | In week and 16,011,833 year ago; year to date 79,366,125 lines vs. 79,207,999 | 2 year ago, up 0.2-per cent.

1939 net profit $2,093,518 vs. net loss $1,070,186 in 1938. Continental Steel Corp. and sub-{N sidiaries 1939 - net profit $1,207,199 equal to $5.28 a commpn share vs. $632,865 or $2.32 in 1938. Goodyear Tire & Rubber Co.’ of Canada, Ltd., 1939 net profit $1,652,502 equal to $5.25 a common share vs. $2,228,879 or $7.49 in 1938.

U. S. STATEMENT °

WASHINGTON. Feb. 13 (U. P.).—Government expenses and Teceip ts for the current fiscal Year through Bb compared with a

s Yea 293 Last Expenses . $5, 750, 829, 18a. 61 $5. 533,061, 60h 73 Receipts .. 3.309,284.928.18 3,494,122, 338.32 3401377 250.43 271.

Cai Ba. 7. Work. Bal. 1,715,561,053.15 2,499,835.277.68 Pub. Debt. 42.24 42.423, 298.08 39,733,653,568.08 Gold Res. 18,04 1,507.00 14,747,047,905.25 Customs . ‘923, 890,510, 570. & '196,693,895.93

INDIANAPOLIS CLEA CLEARING aq Hott gs

2,958,000 2 V1v,U0

FOREIGN EXCHANGE

NEW YORK. Feb. 13 (U. P.).—Following are noon cable rates on major cur-

rencies Net Rates $8913

Easing Cana; da { 86 11- 16 — ] .0225%

della) ..

Ja (yen ico (peso)

brought together in an original

New Yorkers Tells Indiana] :

as offensive to the character of

% |men whose spirit is unsympathetic] 4;

Mr. Russell said that the two acts| a useful purpose if protected from|

13 (U. P)—|B

City and continued firmness at Win- i

; I At the end of the first hour wheat Im r was up % to % e first hour wheat foiel, Betas Corn .was off % cent, oats|N

BUSINESS AT A GLANCE yi

Allegheny Ludlum Steel Corp. |m

ON THE

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.

Though it’s a day late, no celebration of ' Lincoln’s birthday - promises more distinction than that 3 es on tonight's “Cavalcade of America” broadcast at 8 o'clock, NBC-WENR. For the foremost Lincoln biographer, playwright and actor of the present day will be

radio drama. It seems impossikle that Robert

read and absorbed Carl Sandburg’s new and monumental (four volume). biography, “Abraham Lincoln —The War Years.” But that apparently is what he has done. Further, he has fashioried a play from it. And the star will be Raymond Massey. The performance is to take place in the Chicago Civic Opera House before a visible audience of 3500. And for tonight only, Mr. Massey will portray the Great Emancipator’s life in reverse. The actor is now appearing in Chicago in Mr. Sherwood’s success= ful play, “Abe Lincoln in Illinois,” which recently played here. Before the broadcast Mr. Massey will don

RADIO

coln’s life as President, he will be whisked to the theater to play the drama which takes Lincoln’s life . up to 1860. = , 8 8 8

To make tonight's Lincoln atmosphere complete, Ruth Gordon, who does Mary Todd with Mr. Massey in the film version of Mr. Sher= wood’s play, is to be an “Information Please” ‘guest. Also present will be Christopher Morley, plus the fearless trio of Fadiman, Adams and Kieran. (NBC-WLS, 7:30 ocloek.) 8 2» Now, that Indianapolis is more than ordinarily interested in recorded music, this evening’s “Ameri= cans at Work” program (9:16 p. m., CBS) may garner an extra crop of local listeners. For the current broadcast will show its listeners how records are made. ; Tracing the. history from 1877, when Edison obtained his first patent on a talking machine, the program will go on to a trip through the Columbia Recording Corp. plant. Here will be descriptions and interviews with the men who put sound on wax. It might interest you to know that, according to the program'’s publicists, the broadcast will be no special occasion. The workers, it explains, will be on their regular job, for the plant is working three shifts a day to keep up with the

his Lincoln makeup. Then, after having enacted scenes from LinCe Og

e In ments The Ian INDIANAPOLIS WFBM 1230 (CBS Net.)

4:00 Kathleen Norris :115 olden Store : ollywood Scattergood Billy & wetty Ratety Program Albert Warner European News

Gir) Alone Midstream Reed

O’Neills

Spelling Bee Dessa Byrd

Tons OO bb -»i BER3 58

News Pleasure Time Jimmie Fidler Mystery Second Husband reasure Hunt Dick Reed Big, Town

Missing Heirs

elerel | ADDS SamSTA Sess sess Se se oo o

Heidt’s Or, »

. norts Hoosier Sports .

Johnny Presents ” ”

growing demand for records. 8 » LJ

THIS EVENING

napolis Times fs not respunsible tor inaccuracies in program announce. by- station changes after press time.)

INDIANAPOLIS (NBC-MBS)

CINCINNATY WLW 00 (NBO. MBS)

Kitts Keene Midstream Jack Jrmstrong

Invitation New! Baker and Denton Once Upon Time . Lowell Thomas Pleasure Time ews Melody Grove High Inside Sports Aldrich Family Johnny Presents’

Information PleaseHeldt’s Or.

CHICAGO ‘WLS- WENR 870 (NBC Net.)

Radio Neighbors ” ”

Anthony Betty Barrett

Junior Theater Children’s Stories Bud Barton Tom Mix

Easy Aces Lost f Persons

Nigh Schools

aony & Bil _ Rhy hm Concert

) Glenn Miller Hoo! osier Talent

Singing Cop Amos and Andy News ‘Bob, Crosby

Fibber McGee

Bob, Hove Doghouse

28:8 Seis sane azz

S253 | cove

a, cn

Crummitt, Sand. ” ”»

News Sen. James Murra, Outside Looking

America Cavalcade Crummit, Sand. Mr, Weeks Fibber McGee &

Unannounced Bob, Hope Sonesrt

Dogho! Ted Wee! shones ‘10 nt Final Peter Grant Ted Weem " Ranny Weeks

Paul Sullivan _ Louis Beck's OF.

Herbec

Recordings

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INDIANAPOLIS

(CBS Net.) Early Birds Dawn Patrol hE X Markets

News Freddie Miller

Dawn Patrol ” ” Basonology News

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City Today Air Ritchen Miss Julia Editor's Ritty Kelly Man Me. and Maree Other Site

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Stepmother

Short Story Life Begins Big Sister

__ Jenny’ s Stories

| Kate Smith Girl ' Marries Farm Circle

David hh

Ag Guiding

Sagi Dr.

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Linda's Love

Farm Hour Markets. Reporte Headlines

Petty

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The Kellers Ne

Ss itty Keene. oon _Tunes

Lanny Ross Joyce Jordan . Farm. Conference

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= £858 £358

Valiant L Betty Crocker

Mary Marlin Ma Perkins Yevper Joung

Society Girl

Aly Sono

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Hits & Bit tella Dallas - Prese Lorenzo Jones

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Smile

_ Kathleen Norris Golden Store Hollvwond Scattergood

Girl Alone dstream Nizk Reed ONeills

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Daughter Deol, 1 Married

Woman in White rr gery

of i. ainst Storm Light

Woman of Courage Riythmalers

Weather Rome " Folks

Musicale Grim Sn BoD chter Harlin adv and

Three quarter Time Bactins Wife

Widder Brown

Barney Rapp Mogn Riyer

Teddy Powell Charles Barnet

WEDNESDAY PROGRAMS INDIANAPOLIS WIRE 1400 (NBC-MBS)

_ CINCINNATI

; INDIANAPOLIS WIBC 1050 WLW 700 (NBC-MBS)

Devotional Musketeers

: Breakfast dam ”» »

Mornin’ Checkerboard : Nme to Shine

; $iospel Ringer | 3 ¢ oo Belle 3

Beteht Soot aia “Blake May Robson Yotion Queen w

Beer

Man J Married Othe elody

her Wife Plain: Bill Little White House Linda's Save Next

Naina Rtorm Guiding Lighs

Happiness - O’Neills : Farm Hour |

Friendly House ”» "

Public Schools Varieties

Rhythms

oe and Girl

Fafior Randel nes or's Daug! Tommy Sutton eter Grant hind and Bob . Grimm's vaughter - Yaliant lady Betty Crocker

Mary Marlin jh Periing apper Young Vic & Sade

Backstage Wife ‘ Stella Dallas

Miss Julia Beautiful Life

Kit Keene Midstream Jhek Armstrong nvitation

Bros, Haven o " Rest |

Safety 3, Moods oh Congert Hour

8 o'clock Club Steps-in Jive Request Time

a Air Valentine Prorat

- KEY NETWORK STATIONS (Subject to To UBS—WABC, #50; WIR, 750: WHAN. 820; KMOX, 1090; WBBM, 770. NBC-BLUE -WJ2, 760; WOWO. 1160; WIL.S-WENR, 870; KWK, 1350. NBC-RED-—-WEAF, 660; WTAM. 1070; WWJ, 920; WMAQ, 670. MUTUAL=WOR, 710; WHK. 1390. WHKC. 640; CKLW, 1030; WSM. 850.

LOCAL ISSUES

The following J otations ny the Indianapolis Bond & orp. do not represent actual price offerings, buy merely’ indicate the approximate market level based

transactions

Van Camp Milk com .. Bo nds

American joan 5s 31 American Loan 5s 46 Citizens Ind Tel 42s Crabbs-Re olde-Ta slo r Co Ss. Home T&T Ft Wayne 5 % 5s. 103 Home T&T Ft Walle nd Asso Tel Co 434% Se nd Tel Co

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Kokomo Wat: or a Entoor Packing C Co 4 49. . Morris 10 Stores 5% 50 . Muncie Water Works <5 65. . Nat 8ilk Hosiery 5s . 97 Noblesville -l 6Y%2%- 47..... N Ind Tel Co 4%2% £ sedaee .e . 28 Public Tel Co 4%2% b Richmond Wat Wks 8% 85... Trac Term Corp 5% 5

NEW YORK, Feb. 13 (U. P.)— Dun & Bradstreet's daily weighted price index of 30 basic commodities, compiled for United Press (1930-32 average equals 100): Saturday ...coccececeescecss 119,08 Week ago inertness inst ney 119.02 Month 880 .eeceocecssveeess 12166 Year ago : 304. 1940 High (Jan. 2) deo evece 123.34 1940 Low (Feb. 8) ......... 118.74

on buying and sell uotations of recent] 7 tio Stocks , Bid Ask

i] CLEVELAND

DAILY PRICE oy

LOCAL PRODUCE

Heavy breed hens, 5 lbs. and over, 12 ghorn hens, 7c; Barre aste 4 lbs. and ver, Reavy Breed. 8 ho: Leghorn broilers. 4 lbs. and over, 9c; capons, 9 lbs. and over, 18c, 8 lbs. and over, 14c. No..1 strictly fresh Sountry_run a. °fes 20c; (each full case must eigh gross; a net deduction of 19¢ Jor aon fil case under 55 3bs, will be m Butter—No. 34 Ya@35c¢; No. 2 . J3%@ 33¢c; be entat, No. 1, 28c; No. 2, (Prices ‘quoted’ by Wadley Sos) :

LR ih hotel Eye Coach

Excursions

GOING SATURDAY rv 2 $5.50 Leave 10:00 p. m. or 10:50 p. m. TOLEDO gr DETROIT . . . 5.25

Leave 10:00 p. m.

GOING SUNDAY TERRE HAUTE .

Leave 8:05 a. m.

ST. LOUIS . + «$6.00

Leave 12:30 a. m., 2:45 a. m. or 8:05 a. m,

$1.76

MSA AP114.N

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For complete information consult . Ticket Agent

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any

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146 2 WASHING

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~ MEN'S FINE WOOL | OVERCOATS and TOPCOATS

That Usually Sell at $19.75 $-P<E-C-1-A-L

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