Indianapolis Times, Indianapolis, Marion County, 22 February 1940 — Page 13

THURSDAY, FEB. 22,

NEW YORK, Feb. 22—The big question now about our railroads is: will they be put through the wrthger or not? - Fairman Dick has offered an argument on the “no” side of this de.bate. In order to make the plight of the railroads clear he gives some simple figures to illustrate the point. Paraphrased, it runs about like this: Suppose you owned all the out- * standing railroad bonds in the country. © You would have $11,000,000,000 of bonds. How much would it be worth to you? In order to simplify the answer, let’s think of it in terms of $1000. Out of each thousand, $70 would be A-1 or prime bonds worth a hundred cents on the dollar; $230 would be in pretty fair shape—paying its interest, with no present sign of default. > ® 8 2 NOW WHAT of the remaining $700 out of your thousand? $420 is in default, and if you tried to convert it into cash you would have to sell it for $210, or 50 cents on the dollar. The other $280 is not only in default but the roads are in

bankruptcy, and if you: wanted to

- convert it into cash you would have | Choi

to sell for $28, or 10 cents on the dollar.

Now is it not perfectly obvious | Good

that a business like this cannot pos-

900-1 sibly have any credit and therefore }

cannot possibly hope to spend any .money to modernize its plant and enable it to improve its usefulness and earnings?

This is the diagnosis of those who | Mi say the railroads should be put|good

through the wringer—that all of these depreciated bonds should be either canceled or reduced to reasonable proportions. Mr. Dick agrees

with the diagnosis but he does not | Medi

think that putting the roads

THE INDIANA

No. 22

- par

LIGHTER HOGS VEALERS FIRM

Weights Above 160 Pounds Unchanged in Trade at Stockyards. |

Prices in most hog divisions remained unchanged from yesterday | at the Union Stockyards here today, the Agricultural Marketing Service reported. : Hogk weighing less than 160 pounds sold 15 cents lower but other weights remained at yesterday’s levels. Top price quoted was $5.65 -on the 180 to 200-pound diviSalers sold steady with a $12 top. Packing sows were unchanged.

Rcopts.| Feb. Top Rents. 9597! 20 ....$ 5.8 3 15 15001 21 ... 5.65 87% 35 7357 22 .... 5.65, 6988 : d Gilts | Packing Sows Pod and Cholce— Good and Choice— 140.8 4.00- 3% 1 3 $ 3.50: py 180; 5.39: 210 Joo. 360. 4.45- 4.55 .09= 9. 00ad— . 25 270 360- 400. 4.30- 4.50 . 5.25- 5.55| 400- 450. 4.15- 4.40 . 35 ue 500. 4.00- 4.25 .70- 5. edium— 465- 390 250- 500 3.75- 4.15 Slaughter Pigs

50 310 od and Good— 4.65- 5.401 90-120.. 3.25- 4.25

flauiuer Cattle & Vealers (Reogipts, 837) e ul o bids ors | (Yearlings excluded) 750- 900 $10.75-11.75/Good ....$ 6.50- 7.00 900-1100. 10.75-11.75|Sausage— 1100-1300. 10.50-11.50/Good ....

$0 4% - v .25- | Medium .. .00- 6. 1300-1500. 10 eam. ad 5

common _ 5.25- 6.00 Vealers

160-10.25 9.00 c

0. 7.75- 9.00 1100-1300. %7.50- 9.00/Cull C00 e.15- 1.75 Steers, Heifers (Receipts, 434) Steers

xed— - - Choice— 200 750. 9.75-10.75/ '0'°%00.. 9.00 9.75 500- 750. 8.25- 9.75) 800-1050.. 8.50- 9.00 Heifers jqood—, Choice—- - 800 8.00- 9.00 750- 900. 9.75-10.75),800-1050.." %.75~ 8,75

edium— 500-1000 7.00- 8.00

DIP 15 CENTS: |

“Charitable Contributions and Gifts Made By an

* Your Federal Income Tax

Individual Are Deductible. =. Deduction for Contributions

Charitable contributions and gifts made by an.

individual are deductible with ilmitations provided by the Internal Revenue Code. The organization to which the gift is made must meet several tests. The corporation, trust, community chest, fund, or foundation must be a domestic organization and must be organized and operated exclusively for religious, charitable, scientific,

literary, or educational purposes, or for the prevention ,of cruelty to children or animals; and if a substantial part of its activities

_ is carrying on propaganda or otherwise attempting to influence

legisiawuon, it 1aus 10 pass une tesuS, INO part oI tne organizations income may inuré to the benefit of any private stockholder or in aiviaual. Contributions made to a missionary fund, church building fund, or for the benefit of other activities of the church are deductible if the church is a domestic organization Pew rents, assessments and dues paid to churches are regarded as contributions Gifts to & domestic corporation: or domestic association organized or devoted to the advancement of learning are deductible. ‘ Mahe —- : Gifts to an individual are not’ deductible, but if made to a domestic charitable organization, as defined by the Internal Revenue Code, may be deducted even though the organization distributes funds among the ingividual beneficiaries. 8 #8 =u & #8. a .

Contributions made to the United States, any State or Territory or political subdivision thereof, such as a city or town or the

District of Columbia, for exclusively public purposes are deductible;

for example, a gift of real estate to a city to be used perpetually as a public park is deductible. Also allowable are contsigutions to the special fund for vocational rehabilitation, to posts or organizations of war veterans and their auxiliaries. in the United States,

"and to domestic fraternal societies, orders, or associations operat-'

tional, literary, or charitable purposes. In general, the deduction is limited in the .cases of individuals to 15 per cent of the net income, exclusive of the contriblitions. Corporate contributions ‘are deductible when made to or for the use of a domestic’ corporation, domestic trust, or domestic community chest, fund, or foundation which meets the same tests as those made for recipients of individual contributions, but in the case of contributions or .gifts to a trust, chest, fund or foundation only if the contributions or gifts are to be used within the United States. Deduction of corporate contributions

is limited to 5 per cent of the net incom a Is Hintied p ® exclusive of the con

ing under the lodge system, if used for religious, scientific, educa-

| H. R. Knickerbocker. .

CGood— 750- 900. 8.25- 9.50! common 500- 500 6.00- 7.00 Calves (steers) Good and Choice—

edium-— 500- 900. 7.25- 8.50

Club at Tech. Other officers are

POLIS TIMES

PAGE 13

| At Town Hall

|of contention.

§ | program is on NBC-WENR

. « The World His “Beat.” .

Newspaperman to End Series Saturday Noon at English’s Theater.

A newspaperman who has the world for his “beat” will conclude the: 1939-40 Town Hall lectures at English’s Theater Saturday morning at 11 o'clock, : H. R. Knickerbocker, roving correspondent of International News Service, will speak on “At the Ring side of History.”

Mr. Knickerbocker won a Pulitzer Prize for his foreign correspondence and holds the Atlantic City Headliners’ Award. He has been on the scene in virtually every international crisis in Europe, Asia and Africa during the past 15 years. Mr. Knickerbocker’s talk will discuss relative strength of the belligerents in the present European war and discuss the. possibilities of a revolt in Germany and the ultimate aims of Stalin. Herbert Hill, assistant managing editor of the Indianapolis News, will introduce Mr. Knickerbocker,

Incorporations

, TONIGHT 7:00—Ask-It Basket, WFBM: - 8:00—Good News, WIRE. 8:30—Town Meeting, WENR. .9:00—Music Hall, WIRE, : America’s Town Meeting of the Air convenes in Chicago tonight at 8:30. “Employers, Empléyees and the Public” will be the verbal bone Speakers include Henry L. Nunn, president of the Nunn-Bush Shoe = Manufacturing Co.; Edward Keating, editor and manager of Labor, and Elmon E. Roth, president of the Employers’ Council of San Francisco. George V. Denny Jr. is moderator. The

# f 8 ~ Margaret Lindsay, stage and screen actress, and Dave Irwin, author and explorer, will be George Jessel’s guests at 7 over NBC-WIRE. 8 o J \ } An engineer who has spent more than eight years developing his

hobby of impersonating George l

Washington for clubs and civic groups will be interviewed by Alois Havrilla on the “Strange As It Seems” show at 7:30, CBS-WFBM. He .is Laurance H. Hart of New York, an Ohio State graduate.

” » 8 Baby Snooks is celebrating her birthday anniversary tonight, too. It will be her seventh. Fanny Brice first introduced her in the Ziegfeld Follies on Feb. 22, 1933. Her stint was to garble Daddy’s version of the George Washington cherry tree story, which she’ll do again at 8, NBC-WIRE. 4 # 2 » Foreign short wave news broadcasts: Moscow, 6, RV96, 15.24 megacycles and RNE, 12 meg.; Rome, 6:30, 2RO, 11.81 meg. and IRF, 9.83 meg.; London, 6:30, GSD, 11.75 meg. and GSC, 9.58 meg.; Madrid, 7:25, EAQ, 9.86 meg.; London, 8:45, GSC, 9.58 meg.; Berlin, 9:50, DXB, 9.61 meg., arid DJC, 6.02 meg.; Paris, 10:30, TPBI11, 11.88 meg. and TPA4, 11.71 meg.

» 2 2 Sidney Giles’ carillon program at 10:15, WIRE, includes “Beautiful Isle of Somewhere,” “Londonerry Air,” “Moment Musical” and “Evening Prayer.” . . . An essay contest will be announced tomorrow at 10:30 a.m. over WIBC on the Riley riospital program sponsored by the

‘ON THE

RADIO

s not responsible for inageuracles, in program ane

na mes {| ents caused by station changes after press time.

a32a2e2 | ADD | ATR | Bh iinitn in

: IANAPOLIS |

WFBM 1230 (CBS Net.)

Kathleen Norris Golden Store Hollywood Scattergood

Bill ; iy aj. Gen. Elliott European News

em con firing, Cor

Askit-Bagket

Mysterv Treasure Hunt Dick Reed '-

CHICAGO WLS-WENR (NBC _ Net. Radio Neighbors

* Anthon -Frolics y

INDIANAPOLIS WI 1400 (NBC-MBS) Girl Al Midstream Dick Reed O’Neills Spelling Bee Dessa Byrd -

870 ) {NBC-MBS)

Kittv Keene Miata rrone ; 3 po BT . Tr Bud Barton Don Winslow 2 Tom Mix Lowell ‘Thomas

BE,

Inside Sports George Jessel Those We wove

Ensemble Hoosier Sports

Pleasure Time Easy oes Ong, of the Fidest Jessel Celebrities Thosé We Love

Musical Americana Joe, Penner

ond ems fund pt

=% lk pk et

Junior League of Indianapolis.

.e oe oe S000 Oso ve ne oe oe oo .e oe 00 . - oe 5853 | 6852! 8853 | 8352 £853 | 685s

SBHB| rile 8 58538 685368

6853/8553

m——— 0222 | eee on

Bis | 60000000 | 2010TDDD | epmdidt ind tome | income | ie 5853 | A352 | 5853

5852

Strange as Seems ; Bowes ”

Major » ” ” ” . Glenn Miller World Dances Bible & Life = ~ Nan Wynn

Amos & Andy e Bob Crosby Paul Sullivan

Dick Stabile Henry Busse

Concert Miniature

Good News ” a" Ted Wi

. ”» ” ” ”

eems id News

Town Meeting Bm Muze Hl me Wugle Byl

Sect. Woodring “". »

News 10 O'Clock Final Peter Grant Carillon Music a as Ella Fitzgerald Barnett’s Or. i» 5. Carl Lore ”» 8 ; ” » Erwin’s Or.

Ranny Weeks Moon River » ”»

Recordings ” »

Beachcomber Or.

Powell's . or. Foster's Or. ” ”n

- FRIDAY PROGRAMS

INDIANAPOLIS FB 1 * (CBS Net.) Early Birds ”» ”» ” ”» ”» ” » » News

Freddie Miller Good Morning - Melody Weavers Miss Julia Kitty Kelly Myrt and Marge Hillton Stepmother -

Short Stories Life Begins

Big Sister \ Jenny’s Stores Kate Smith

Hoosier Milkmen News Kitty Keene

- Noon Tunes

Lanny Ross Joyce Jordan Butler Forum My Son & A Society ‘Girl My Song Air, School ;

Three-quarter time Backstage Wife &

Hits is William Wirges Smilin’ Ed

Kathleen Norris Golden Store

Hollywo {Scatterrood

CINCINNATI (NBC-MRBS) — re rei Tex, Millie, Dollie Checkerbvara Time to Shine Newel Singer 3 Lulu Belle Indpls. Today News Caravan Air Kitchen Bright Spot Silla Blake " ” * ay Robson otton Queen Editor’s Daughter Devotions News

Man I Married Memory Lane I Married Other Wife Plain Bill Charm Woman in White Women’s News

, Friendlv House ” »

Riley Hospital Castletime

Noonday, , Rhythms

INDIANAPOLIS WIRE 1400 (NBC-MBS) Dawn Patrol Markets

INDIANAPOLIS WIBC 1050

Devotional Musketeers

Breakfast Jam ”» ” ”» ” ”» ”»

Dawn Patrol Basonology News

Kitty Keene

Linda’s Love Road of “ife Against Storm Guiding Light

Happiness O’Neills Farm Hour

David Harum Road of Life Against Storm Guiding Light Singin’ Sam _ Malone

Woman of Courage Rhythmakers Linda’s Love Boy Greets Girl

Farm Hour Ranch Boys Markets, Weather Home Folks Reporter Bill Jones Headlines Tommy Sutton

t Bob Musicale a imm’s. Qo uter Harlin _ Bros. a

0X yallant tady Haven of Rest

Bettv Crocker, Marli Piano Moods Mary ne Cugat’s Or.

i Fevoer Voune Congert Honr

Vie & Sade

Livestock Reports Ellen ndolph Editor's Jaughter Peter Grant Betty and Bob Grimm’s Daughtes Valiant _CLadv Betty Crocker

Mary Marlin Ma Per kins epner Youne Vic & Sade

3 o'clock Club Clarence Gillilund Request Time

Backstage Stella Dal Miss Julia Beautiful Life

Kitty Keene Midstream » Jack Armstrong Jamboree Preview

Wife Stella Dallas las Lorenzo Jones Widder Brown

Gir! Alone Midstream Dick Reed O’Neills

Dr. Swing Question-Air Around Town

TECH CLUB TO HEAR AUDUBON SPEAKERS

Karl Maslowski, Ohio Audubon Society president, , will lecture on “The Naturalist’s Diary in Color Film” next Thursday at the Tech-

Common— 0. 6.00- 7.25

500-900. 6 Leroy Fargo, vice president; Fran-

ces Bertuleit, secretary; Peggy Anne Stein, treasurer, and Louis LeVier, sergeant-at-arms. ; :

Charles Caron has been named president of the Service Club. Other Of eers are Pauline Anderson, vice i , president; Robert Wilson, secretary, Bice] High School Nature Study|and Jerreta Walker, a Club. : arms. operative Investment Co., Hammond. | Meanwhile a new publication at ae se rageoart Thies ager Sag. Zech and results of xo club elec- BLAST BURNS ARE FATAL fication No. 44, by Krim Beverage Co. ions were announced. sar The advanced Spanish class will|,, . i CETON, Ind, Feb. 22 (U.| Admisison of Ames Apparel Inc. New issue a mimeograph publication, P)~—Mrs. Ruth Simpson, 39, of Merchants Bank Bldg, Indianapolis; gen“La Gaceta,” in Spanish five times|Oakland City, died yesterday from Withdrawal of Associated Refrigeration during the spring semester. burns suffered when kerosene which Dorothy Jean Taylor has. been|she poured on a fire to hasten igelected president of the French nition exploded.

Service Co., an Illinois corporation.

9.25-11.00 N50 aown 8.00- 9.2 own 8.00- 9. [ 5.75- 6.50! 1 Cam 4 tata Ives (heifers) common 4.75- 5.75/ 500 down. 9.25-11.00 Canner... 4.00- 4.75|Medinm— 500 down 17.50- 8.75 SHEEP AND LAMBS (Receipts, 1254)

Lambs Good and choice Medium and good Common

through the wringer will help the i situation Carsons Furs, Inc., 3407 Michigan Ave. . East Chicago; agent, Violet Wisner, 3716 Van Buren St., Gary; 10 0

par: value; general nand

Wisner, Pruzin. Shults Roofing: Co., Inc., LaCrosse; agent, George M. Shults, LaCrosse; stock, 1000 shares of $10 par value; general roofing business; Sects . Shults, Albertina Shults, William Hildebrand. : J JB Preliminary dissolution of Killbuck. Milling Co., Anderson; The United Tractions Coal Co., Indianapolis, and Midland Co-

2 = ” HIS ARGUMENT is as follows: Throughout the depression the roads have earned only 13% per cent on their investment. Cancelling a lot of their bonds would not increase the earnings. Would it be possible to get people to invest further millions in'the roads, lending at 4 per cent interest to get a return ~ of only 1% per cent? ( tive, mostly 10@15c higher, spots up more; But that argument seems falla-| ton, ss0” bulk good and choice 150-240 i i s., [email protected]; -270-1b. butchers, ) clous. The investmen; includes a|[f, $3 28@pay Bo or Ls ool ir vast amount of money which has good 20r-55000, pacing sows, [email protected]; gone into equipment and property. ttle Hocoipte 3500; calves, 800; ver And part of the problem would be little beet in run; strictly choice and prime writing down that investment. It Ser .jabsent, goo 0 average kinds : 4 g; common and medium Kinds stead could be written down without af- to Strong. clearance g00d; mostly gas 3 5 k market; extreme to S., 90; fecting the earnings. The only ques best yearlings, $11.35; overs] loads good tion remaining is this one—can the grade weighty SWS [email protected]; _ all Set : es m ably higher an wee . feeds, > modernizing, _ hey heifers pleads. mostly . down; good 5% ocomotives, new equipm and, | choice 865-1b. averages, $9.40; cows, firm; : \ : | Colorado beef vit ight, .35; along with that, reasonable consoli- | common thin Wyoming Rona, Be dations, increase their earnings? Sapte $054 Sannery $1.2504.75; bulls If the answer is no, then the rail- sausage offerings with cent up to $1.65; 5 vealers Cc lower a own; stocker road problem is hopeless. There is ane, lover as Su ers Ho Soniion, an late Wednesday course no one advocates a mere putting of the roads through the wringer. This is only part of - the remedy. Along with this must go a rational consolidation plan which .will enormously cut costs by cutting out duplicated services.

dl h I S | Ss Tt he OO

REFRIGERATOR ef fomrrov!

$ 9.75-10.00 9.25- 9.65 7.00- 9.00 .00- 5.00 2.75- 4.00

CHICAGO LIVESTOCK

Hogs—Receipts, 10,000; moderately ac-

Ewes (on shorn basis) Good and choice Common and medium

Amendment of article of incorporation of The Mengel Co., a New Jersey corpora on.

Dissolution of Irwin-Pogue, Inc., 7 x

SY: L In Z 2 bh,

NA NN

Sheep—Receipts, 7000; faf, lambs strong to 15c¢ higher; mostly 10 @15c up; sheep also strong to -unevenly higher; lamb top. $10, highest since September; bulk, [email protected]; fed Western ewes, [email protected], highest since April; today’s trade fat lambs in fairly broad demand, undertone steady to stronger: good to choice wooled lambs bid 9.73(9.90: best, held $10 and over; medium to good lambs around 85 lbs., $9.50; sheep about steady four decks fed Montana ewes, $5.50.

=) wf Open Every Thurs. | and Saturday Night IE

Until 9 o'Clock

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