Indianapolis Times, Indianapolis, Marion County, 20 February 1940 — Page 13

NEW YORK, Feb. 20—In a country where every community, includng the national Government, .keeps plunging deeper into debt and raising taxes, here is the story of a town that ought to be printed in big type and made required reading for every public official in America. It reminds one of a famous capAtalist in the time of Queen Elizabeth. England was hopelessly in debt. The ministers were looking for all sorts of escapes from this burden. They finally asked Sir Thomas Gresham, businessman, ‘how the Queen could be rid of her debt. His answer nearly knocked them over: “By paying it and contracting no new debts.” They had never thought of such a thing. They took his advice and made England rich. = 3 » THIS IS A TALE about a small American community—Montclair, N. J. Back in 1932 it had a bunch of commissioners who were stooges of Hague, New Jersey Democratic boss. The ran the town into debt, raised its taxes, ruined its communty services. Most people accepted that as the inevitable fate of any American town. Then the gang went a little too far. It squelched the municipal garbage system and handed the job over to a private contractor. scandals followed, some ladies got excited, organized a campaign to elect honest commissioners, almost won and in the next election kicked out the gang and named four of the five commissioners—all reputable businessmen.

While every other town has been | Good

raising taxes, dec¢reasing its services, cutting school bills, here is what Montclair has done. =” 2 2 IT IMPORTED an experienced ‘purchasing agent and an experienced engineer. price of everything dropped under honest purchasing. Both officials more than paid their salaries out of savings. _ It hired a leading Chicago firm to revise its assessments on an honest basis. Cost, $25,000; saving to citizens, $165,000. It reduced taxes in 1939 by $246,000. Then it has made another reduction in 1940 of $503,000. And while it was reducing taxes it wiped out its total bank debt of $1,000,000, reduced its standing debt by $685,000, piled up a surplus in bank of $500,000, and improved its|g city services. Now it has written a letter to its|} citizens asking them what they want to do with the $500,000 which has been saved. Do they want to cut taxes for the coming year by another half million or do they wish to pay off another $100,000 on the debt and cut taxes only $400,000. ° Who are the beneficiaries of all this? The citizens of Montclair. Why then do citizens keep in office corrupt and incompetent political

gangs for which they pay such ter-|71oF

rible bills when by introducng a sound business government they can ease their own burdens in a time when there are so many burdens? That’s a question for every town in America.

" U. S. STATEMENT

WASHINGTON, Feb. 20 (U. P.).—Government expenses and receipts for the current fiscal year through Feb. 17, compared with a year ago: is Year Expenses ..$5,882,107,410. Receipts 3 388,14 Gross D Net Def

t Yea 0 \ gel S11, 801. 64 5.846,500.20

Customs

See Final Edition of the Times for

Closing Stock Quotations and Other Late News

Want Perfect Beer?

CT: 3 ACS

THE BEER wiTH

N80 MILLION DOLLAR FLAVOR

SAL LILA)

Some Good

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2 8.50; cuttery kihds gown

IST PONEE

PRICES SHARE

Heavy Hogs Gain 15 Cents; Lighter Weights Hold Steady Here.

Hog prices generally were higher at the Union Stockyards here today, the Agricultural Marketing Service reported. Bidding was steady on weights from 160 down, but prices were 10

on weights exceeding 250 pounds.

200-pounders.

to 25 cents upward.

‘Monday, Feb. 19 Top Rcpts.|Feb. 5.65 S03 1: 1% ... 5.85 4453 Cie e 5.75 95911 20 20 ere 0.85

Packing Sows 3 and Choice— 140 $ 4.35- 5.20{ 2 210- 80¢. $ 4.65- 4 140- 160.2 4.85- 5.85 4.60- 2 160- 180 5 i . 390- 3%: 4.60- <.70 3 63- 4.45- 4.65 4.20- 4.55 4.10- 4.50

3.75- 4.25

Repts. 1300 1357 959

Feb. 14 ...

15 ... 16 ... Barrows and Gilts | C204 .3 and Choice—

0 .85Slaughter Cattle Steers | I( Yearlings. excluded) 0 SIG, 8 Oo : e od .... 6.50- 7.00 . 10.25-11.25| Go el

. 10.00-11.00| Medium ‘: [Cutter and ] 00- common _ 5.25- 6.00 | ; 75- Vealers &

9. 8. 8.758. 7.

50- 9.00] 7.50- 8.75) | Cull

). 6.75- 8.75 Steers, Beifere

ixe 500- 750. 9.7510. 751

Cattle, (Receipts, 529) Steers Choice— 500- 800.. 8.25- 9.75) $o0- =1050; ‘.

eifers 1% jood "800 0.25-10.75(,800:1050... 8.25 9.50 Comma | '500- 900 6.

d and C 5 down

Me dium 6.75 500 dow wn 8.00- 9 6.25| Calves asi 3

|Good— 5.50| 500 down. 9.25-11.00 50, Megiim— 500 down = 7.50- 8.75

SHEEP AND LAMBS (Receipts, 1021) Lambs

2.00- 9.75 8.50- 9.00

8.00- 9.00 7.75- 8.75

7.00- 8.00 00- ".00 hoice—

500- 750.

Choice— a 900. Gdod— 750- 900. Medium— 500- 2 900. Com. 500- 900.

S¥ a od .$ 6.25Medium’... 5.50Cutter and common 4.50Canner.. 4.00-

Good and choice Mearum and- good . om

..$ 9.50- 9.65 .. 9.00- 9.40 Ewes (on shorn basis)

Good and choice Common and medium ..

4.00- 500 2.75- 4.00

Hogs—Reczipts, Elose fairly active; steady; medium z butchers steady to Fh » bul; d and choice 280-22 & Sar 60; 20-240 si = [email protected]; id 240-270-1b. butchers, [email protected]; 270-320-1b. averages generally $4. Tacs: good 400-550-1b. packing sows, [email protected]; JSpveizhis to $4.65. Cattle—Receipts Calves—1200; fed steers and yearlings strong to 25 cents higher; kin grading good and better showed most upturn on shipper and order buyer account; all grades in broader demand, however, at 25 to 50 gents mostly 50 cents higher than week ago today; most [email protected] market; choice weighty steers at $11.50 pnd strictly prime 985-l1b. yearlings at $12.75, new high since last June; heifers and cows 10 to 15 cents up: bulls strong; vealers strong to 25 cents higher; part load light heifers, $9.75; mostly $9 gown on shortfed crop; cutter cows, $5@ 5.35; weighty sausage ous - [email protected]: selected vealers selling 11.50 more freely; mostly, $10@11; ots cattle active and higher at [email protected] with good and

17,000; opening slow; TL weights mostly nis do oR2Y

75 and b T. Sheep — Receip ts, 6000; late mostly steady on all classes: _wooled lambs

@8; 120 hs. [email protected]; today’s trade fat lambs active; early sales fully 25 cents higher; asking more advance; sheep 15 to 25 cents higher; good to choice wooled lambs to local packers early, [email protected]; best held 9.75 upward two Slouplss fed Western slaughter os: $5.25@5.

OTHER LIVESTOCK

CINCINNATI, Feb. 20 (U. P.).—Hogs— Br 3000; active; mostly 10c higher top $5. 90: s.. $5.65; 10012 1bs., [email protected]; : 4.25. ‘Cattle—Receipts, : ,. 350; active, generally fuily steady to strong, underfone stronger; few lots merely common to medium steers and yearlings, $7@

to $6.25 less; part load good 63 3 .25; several part : 3 bulk medium, $7. 2008.50" common dow .50; fat f cows, [email protected]; oa top sausage buns. ei 25; bulk offered $6@7: vealers strong; t $11.50. Sheep—Receipts 100; light SuDly Dire ong to higher; around 5 head of strictly choice 80 1 shorn na2 lambs carrying Around 90 day fleeces, $9 to city butche good and choice wooled I unted $9@ @9.50: common

and medium 5. PT WAYNE Tog. Pen. P.).—Ho| —Steady b 199 jhigher: 130- 0-300 fos. $5.65: 160- 80 1bs. 200 0-220 1t 1bs.

LOCAL PR PRODUCE

Heavy breed he ns, 5 lbs. and over, 12¢: under 5 lbs., 10¢ : Leghorn hens, 7c; roasters, 4 lbs. 9c; Le stags, 6c; Leghorn Bars, 2 lbs. and over, 9c; capons, o 1bs. and over, 18c: 3 lbs. and over, l4c. 0. 1 strictly fresh country run e : each full case must .weigh 55 Ibs. gross: a net deduction of 15 cents for

made. Butter—No. 1,

31%2@32¢; No. 2 ri 30c. 1®3ae: No. 28

Butterfat--No. 1, 26c: (Prices quoted by Wadley &2

FOOD PRICES

CHICAGO. Fzb. 20 (U. P.).—Apples— Michigan Mackintosh, basis! $1.25, Byest potatoes—Tennessee, bushel, ol [email protected] Celery—Michigan, Crates, $1.50 303. Tomatoes—Mexica, an, tugs. $5. Spinach— Texas. bushel, [email protected]. Cauitfiower— California, crates, [email protected]. Carrots— California, crates, $2.25@2. Onion market {50-10 sacks) : Colorado Sweet Spanish, 80c

BARGAIN [FILE] TES

' SPECIAL ROUND. TRIP COACH FARES Good on Specified Trains Onlv— For Details Consult Agents

SATURDAY NIGHT, FEB. 24

$7.00 PITTSBURGH SUNDAY MORNING, FEB. 25 $2.50 LOUISVILLE $3.75 COLUMBUS $2.25 DAYTON $1.50 RICHMOND

I

Returning leave destination Sun. Night

Pheu: Riley 9331

PENNSYLVANIA

RAILROAD

9.25-11.00 |

NEW YORK STOCKS

; By UNITED PRESS

DIME ADVANCE :*

cents higher on weights between 160 4 PRL. and 250 pounds and 15 cents higher |g TS 3

Top quoted was $5.85 on the 180 to A A Vealers were half-dollar higher

with a $12 top. Another small run|y of sheep and lambs sent prices 15|aA

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: DOW-JONES STOCK « AVERAGES

Last chong] xp . 80 INDUSTRIALS Penn : X Yesterday’ aves sesevaseasins 148.46 —0.26 ~—0.06 i +0.36 ~0.10/E

58

TY Week ABO or.rovnirieniiins, 148.78 3 Month Ago srestnssdencenee 145.49 is Year Ago .......viie...i.. 142.64 “nl High, 1040, 152.80; Yon. 144.65. ;

SIRESR #

‘High, - -1989, 155.92; low, 121.44. : 20 RAILROADS : Yesterday ®sisscvensesosssde Week BEBO «issresessessaasee Month Ago Seesssvcessssnens Year Ago . : High, 1940, 82. 6; Tow, "80.15. High, 1939, 35.90; low, 24.14. 15 UTILITIES Yesterday ......... Week AO ..cccovsvvveses. Month AO .....c000eses Year Ago High, 1940, 26.45; low, High, 1939, 27.10; low,

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Your F ederal Income Tax

Paes on Real Estate and Personal Property Paid During 1989 Are Deductible.

& 2 : 2 8 8 Deductions for Taxes

Taxes on real estate and personal property paid during the year 1939 are deductible. So-called taxes which are assessed against local benefits, such as streets, sidewalks, drainage, and other like improve- - ments, are not deductible but are to be capitalized, as they tend to increase the value of the property and thus constitute cost of a permanent improvement. The Fed‘eral income tax may not be deducted. The tax on un- ~ just enrichment—a Federal tax on income-—is not de-

ductible. Income tax, however, paid to the State by

an individual on his income is an allowable deduction in. his Federal income-tax return. Customs’ duties paid by a person on articles imported for his * own use are deductible. Import or tariff duties paid to customs ‘officers; and business, license, privilege, excise and stamp taxes paid to internal revenue collectors are deductible as taxes, provided they are not added to and made a part of the expenses of the business or the cost of the articles of merchandise with respect _ to which they are paid, in which case they cannot be deducted separately as a tax. The Federal tax of 1 cent for each 10 cents or fraction thereof paid for admission to any place (where the - amount paid is 41 cents or more) is deductible, provided an account “has been kept by the taxpayer of the amount paid.. Taxes on club dues are deductible by the member paying them. An individual may deduct the tax on his telephone conversations, radio messages, telegrams, and cables, and on the rent of his safedeposit box. Unemployment compensation contributions required under a _ State law, if officially classified as taxes, are deductible as taxes and not as business expenses. oY 8. 8 2 8 os ”

The excise taxes imposed upon employers by the Social secur= ity Act, as amended, are deductible, but the income tax imposed on employees by that act is not deductible. If an employer pays such tax for the employees, the amount may be deducted by the - employer as a business expanse, and the employees are required to report as additional income in their Federal income-tax returns the amounts of the tax so paid for them. ° License fees exacted by a State or city upon certain businesses are deductible as taxes. Automobile license fees are rily taxes and deductible. Postage is not a tax and is not In general, taxes are deductible only by the Person

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Investments

Indianapolis Bond and Share Corporation MARKET STREET

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DEMAND STRONG | FOR LOW-PRICED | : ISSUES AT N.Y.|°

Main List Fluctuates in Small Range; Leaders. ~~ Recover Losses.

NEW YORK, Feb. 20 (U. P)— Selected low-priced issues met strong demand on the stock exchange today but the main list fluctua‘ed irregularly. In mid-session the market developed a slightly better undertone and

most leading issues moved up from their . forenoon: lows. Bethlehem recovered most of an early loss of almost a point and u. S. Steel rallied. Chrysler - and General Motors rallied to previous closing levels after initial softness and American Can :and -Du Pont halved early losses running to a point and more. International Harvester held a foss of more than a point. Loft was down a point. Colgate-Palmolive Peet, Crown Cork, Hendrix Aviation and Canada Dry reached new 1940 peaks on gains of more than a point. A long list of lower-priced special issues made new highs on fractional gains. Brooklyn & Queens Transit fell 10 points. The issue gained about 15 yesterday. A few selected preferred issues had wide gains to new 1940 peaks. There was little in the news of market import. Copper metal was raised * cent to 111% cents a pound, aiding copper shares.

Chicago Stocks Last Acme st J 47 Adams Armour mi Co Belmont Radio -. Brown F&WA Cent &. SW Ut hicago Corp cv ji pisago. Towel +p. hrys. omwlth Edison . omp Ind G Sons oH

Fits

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15 TY 0

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47% 6Ys

FOREIGN EXCHANGE

NEW YORK. Feb. 20 (U. P.).—Following are non cable rates on Eater Oe isies: 2 Net € td (pound)

(dollar) ZI00%s

ent 1 6%

TONIGHT

1:30—Information Please, WENR. 7:30—~Horace Heidt, WIRE. 9:00—Glenn Miller, WFBM. 9:00—Bob Hope, WIRE.

Ethel Barrymore is growing younger all the time, at least as regards characterizations. She was 101 in “Whiteoaks,” then got down to a mere 90 or so in

cently closed on Broadway. Tonight, for the “Cavalcade of America” broadcast, Miss Barrymore has what almost amounts to an ingenue role. For she will pe playing the paft of 60-year-old Anne Royall. Anne Royall was America’s first militant woman journalist. She stormed in the public prints against the evils. of her time—which hap, pened to be the early 1800s. Had she lived in the present century, she probably would be syndicating her views at a fancy salary. Instead she ‘wound up in the law courts, on trial as a common scold in 1829. Material for this sketch is from a forthcoming biography of Anne Royal by Bessie Rowland (Mrs. Marquis) James. . # 8 8

“Farm of Three Echoes,” which re-|

ON THE RADIO

ver La Farge puts in an appearance

as guest expert.

Mr. La Farge is an explorer, anthropologist and novelst. And he is a noted authority on the life and habits of the Americén Indian, past and ‘present. He won the Pulitzer Prize for his first novel, “Laughing Boy,” in 1929. See. Billboard, the theatrical tradepaper, recently checked up on the weekly (John Kieran, F. P. Adams)

and bi-weekly (Oscar Levant) “In="

formation Please” and compiled a box score. In eight programs, chosen at random, the team had the remarkable average of .854. Leading individual expert was Mr. Kieran, who bated .870. Mr. Adams came along with a mark of .855, and Mr. Levant had a very respectable .820. The team score was based on major questions, most of which have four or five parts. But the individual averages were compiled on the experts’ record with parts of questions. If you want to do your own checking, the program is on NBC-WLS tonight and every Tuesday at 7:30

experts,

Another redskin is expected to bite the dust on tonight's “Infor-

p. m. or you can hear the transcribed re-broadcast via WIRE at

mation Please” program, when Oli- 9:30 p. m. on Sundays. THIS EVENING

(The Indianapolis Times is nut respunsibie tor inaccuracies in program announce= ments caused by station changes after press time.)

INDIANAPOLIS WFBM 1230 (CBS Net.)

athicen Norris olden Store tream Dick Reed

ollyv:00 Scattergood O'Neills Billy & settv Spelling Bee Safety Program {ay Byrd

Maj. Geo. Elliott Ren Europezan News

Gir} Alone - Midst

ahad

3 §Ea3S

orts

5S

Pleasure Time Myvsterv Treasure Hunt Dick Reed

News Jimmis Fidler econd Husband

INDIANAPOLIS WIRE 1400 (NBC-MBS)

Hoosier Sports ;

CINCINNATI WLW 00 (NBC-MBS)

Kitty Keene Midstream Jack trong Invitation

News Baker and eaten Don Winslo Lowel) as

Pleasure Time

e New. Melody (irove High Schools Inside Sports

CHICAGO WLS-WENR 870 (NBC Net.)

Radio Neighbors

Anthony Frolics

Junior Theater Children’s Stories Bud Barton Tom

Easy Aces Lost Persons

8| 2853

Biz, Towp Missing Heirs

Lo _

Heidt’s Or,

Johnny Presents ” ”

Aldrich [Family Johnny Presents - Information PieaseHeidt's Oe. ” ” »

8|88

We, the People

T & Bil Ebyihmn Concert

®RP® | wu ABS [aOR - 1

a8

. Fibber McGee

Crummitt, Sand. ”» ”

America Cavalcade Crummit, Sand. Mr, Weeks Fibber McGee

Glenn Miller Hoosier Talent

Singing Cop Amos and Andy ews Bob, Crosby

Bob, Hops Doghouse

EPS 3x3

News

cose] ee 2

Jos bh pun me a cow

ed Weems Outside Looking In

Shield’s 4 Concert Ted Weems 10 O'clock Final

Revue Bob, Hope

Doghouse

Peter Grant Ted Weems Ranny Weeks

53

Paul sul van - Recordings r.

Dance Herbeck’s Or. * 1” : : » <Qrin Tucker

EES LEE

INDIANAPOLIS WFBM 1230 (CBS Net.)

WIRE 14

(NBC-MBS)

Count Basie Charles Barnet ” ZN

Barney Rapp Moon River

WEDNESDAY PROGRAMS

INDIANAPOLIS 00

CINCINNATI WLW 700

INDIANAPOLIS WIBC 1050 1 * (NBC-MBS)

al

Early Birds Dawn Patrol 5 ket!

Markets » Dawn Patrol ” » . ”

News

Freddie Miller Good Morning Ensem Miss ™ alia

Kitty Kelly y t and Marge

0! Stepmoether Short Story Life Begins

Biz Sis Wd "Stortes

"Kate mith Girl’ A Farm Jirel °

” ”» »

eles | AD o's

Basonology News

City Today Air _Ritchen

2|s8s8 sass

Man Other Wife Plain Bill

oe oe -— or

5888

[ey or

David Harum

pts

OSSD | 0000 | xnwN | war @ 7

Aga Guiding Light Smeln, Samm

rye

Bee &

|

Linda's

Farm Hou Markets.

Houseip Milkmen

Ritte Aeene Reporter Noon Tunes Headlines

v Ross Betty Joyce Jordan ] Wheeler Mission My Son & 1

53

2 £8

iant Ladv oe Crocker

Marlin a Perkins he eoper 0 Vie & Sade

Va as

,, Sehgal

58 &§3%

Dallas Jones

200000 | 10001900! ttt peti nER® & 53

Hd &

Wires P Presents lorenzo Sm ed

foe

S358 :

Kathleen. Norris Golden Store Hollywcod Scatterzood.

Girl Alone idstream Dick Reed ONeil Is

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Editor's Daughter 1 Married

Woman in White

alon Woman of Uourage

"Weather

& Bob icale Grimm’s "Daughter Harlin Ses,

Three quarter Time Backstage Wife s & Bits Stella -

Widder Brown

a— Tex, Millie, Mollie Checkerpvara

me to Shine

ws oo el Singer I u Belle aravan Gata Blake Cotton Queen News

——

Devotional Musketeers

Breakfast Jam [1 ” ”» ”»

”» ”»

Berht Spot rig! May Robson Devotional

Memory Lane Music Magic Gems In Melody Master Singers

Friendly, House

Jublie Schools Varieties

Rhvthms ” ”

Rhythmakers Boy and Girl

Man 3 Married Wif

Kitty Keene

Linda's love Road of Life Against Storm Guiding Lighs

Happiness O’Neills Farm Hour

” ”

Ellen Randolph Editor's Daughter Peter Grant

Betty and Bob Grimm's Daughter Valiant Lady Betty Crocker

Mary Marlin : Ma Parking epper Youn Vic & Sade .

Backstage le Stella Dal

iss Julia Beautiful Life . Kitty Keene Midstream °'

ack Armstrong vitation

Ranch Boys Home Folks Bill Jones Tommy Sutton

n aven of Rest

Plano | Moods Safety Program Concert Hour

3 o'clock Club Steps in Jive Re Ti

Swing tt, Around Town

KEY NETWORK STATIONS (Subject to change): UBS—=WABU, 860; WIR, 150; WHAS, 820; KMOX, 1090; WBBM, 770. NBC-BLUE -WJ2, 760; WOWO, 1160; WLS-WENR, 870; KWK, 1350, s | NBC-RED=-WEAF, 660: WTAM. 1070; WWJ, 920; WMAQ, 670. i | MUTUAL—-WOR, 710; WHK, 1390; WHKC, 649; CKLW, 1030; WSM, 850.

property and val protected against

THE UNION TR

(franc) Ra 008%

INDIANAPOLIS CLE! CLEARING HOUSE

Clearings Debits 76,430,000

{BUSINESS AT A GLANCE

By UNITED PRESS

Lumber Survey Committee of Commerce estimates first quarter of

this year lumber consumption; including. exports, about. 6,268,000,000s

feet, up 5 per cent from year ago. International Harvester Co. and affiliated companies fiscal year ended Oct. 31 net profit ‘$12,980,059, 1 to $1.71 a common share, vs. $18,471,723 or $3 previous year.

Mell Dealers Hutwal

FIRE — CASUALTY AUTOMOBILE INLAND MARINE

INSURANCE at substantial savings

Ha. 3000’

ral a elevators are payin eat es 4 ” oiiter at subject ¢ o market

yellow. Shelled” 61m Sic; No.

Cash ci No 1 White, Shelled 57c; No. 2 white oats, 34c.

Indiana

upon whom they are imposed. .

Oldest Loan Brokers -the Sk

= The SHICACH

-146 EAST WASHINGTON ST.

on Everything!

“Diamonds, Watches, Autos, Cameras, Clothing, Shotguns, Ete.

JEWELRY: co. Inc.

IT IS IMPORTANT to know if your

Consult Our INSURANCE DEPARTMENT

Capital and Surplus $3,000,000.00

uables are fully all possible losses

UST COMPANY

FURNITURE

for LESS at eh) _ 225 E. Wash. INC.

SPRING COATS $5 to $16.95

MA. 4010 Even If It’s Three o’Clock in the Morning HAAG’S ALL-NIGHT DRUG STORE IS OPEN

MILLER-WOHL CO. 4 E. Wash, St. R1-2230

22nd and Meridian

AUTO and DIAMOND LOANS

and Refinancing 20 MONTHS TO PAY

Save on Auto Supplies, Radios, Sporting G and Hardware at

"Western Auto” 363 N. 11-301 E. Wash.

Wolf Sussman, Inc.

239 W. WASH. ST. ESTABLISHED 39 YEARS

Opposite Statehouse. L1-2746 For WATGH REPAIRING

OCCIDENTAL i 9628

01306" 6c IDENTAL BLDG.

Er: eT Co.

ELINED | Men's EPAIRED | &

EFITTED | ™ ciotnes LEON TAILORING CO.

235 MASS. AVE xX Trumpet

Instruction E Lesson

INDIANA MUSIC 0.

115 E. Ohio St. Ll. 4088

: ~ OUTFITTERS TO MEN, WOMEN and CHILDREN

29 W. Wash. £5 ort eater

GOOD VALUES on kong Time CREDIVI

-— 8.

a Between Wash. & Maryland