Indianapolis Times, Indianapolis, Marion County, 23 February 1940 — Page 26

cotter ee e————

. RICHMOND, Va. Feb. 23.—Here is a peep at one phase of an old subject—self-rule in business. There is a lot of confusion about this. The casual observer cannot understand why there should be any objection

_ to businessmen getting together and

regulating the affairs of their in-

-dustry. But it all depends on what

they want to regulate, Here in Richmond the automobile dealers have gotten together for this purpose. And here is a good example of the kind of thing businessmen can do to the advantage of the community and themselves. Have you ever seen a sign over an automobile dealer's showrodm, or any sort for that matter, reading: “Stock must be cleaned out by March 1—prices slashed”? Has an automobile salesman ever assured you that the used car he is offering is a “demonstrator” when in fact it is nothing but a used car? Have you ever been assured by the salesman that the used car was = completely “reconditioned” when it wasnt, or that it was a “rebuilt” car when it had only had a good washing and a set of new tires? : o 2 ” WELL, THE AUTOMOBILE deal ers of Richmond have agreed among themselves to cut out this kind of thing and to take measures to enforce this agreement. A dealer cannot call a car “reconditioned” unless it has bee.. examined, repaired arid readjusted by a competent mechanic. They cannot call a car “rebuilt” unless all its seriously worn parts have been actually replaced. They agree that meaningless guarantees and fictitious prices will be outlawed. No selling a car said to be worth $750 for $450 when it is really only a $450 car. There is another dodge to fool the buyer. The dealer advertises in the classified columns but in such a way as to lead the prospective buyer to believe that it is the advertisement of a private person. This and many similar schemes are banned. 2 2 2 TO ENFORCE THIS agreement the dealers plan to advertise a correction of the false representations of any dealers who violate these agreements. Now all that the car dealers cover here is a collection of dishonest practices which no man ought to be allowed to use. They fleece the helpless buyer and they do injury to the honest dealer. And there can be no objection to this sort of dealer agreement. In fact, the Federal Trade Commission has for years encouraged and aided such trade agreements. When businessmen unite to restrict competitign and raise prices they never say so. They always talk about protecting themselves and the public from unfair practices. And people imagine it has to do with such things as the auto dealers in Richmond have done so wisely and justly. The term “preventing unfair practices” is thus used as a cloak to conceal unfair and illegal practices.

eNO, 23 Your Federal Income Tax

Deduction for Depreciation

The Internal Revenue Code provides for “a reasonable allJowance for the exhaustion, wear and tear of property used in the trade or business, ine cluding a reasonable allowance for obsolescence.” For convenience, such allowance usually is referred to as depreciation. In claiming a deduction for depreciation several funda mental principles must be observed. The deduction must be confined to property actual=ly used in trade, business and/or profession, and to improvements on real property, other than property used by the taxpayer as his personal residence. In general, it applies to the taxpayer's capital assets—buildings, machinery, etc. —the cost of which cannot be deducted as a business expense. A lawyer, doctor or other professional man may not charge off as a current expense the cost of a library used wholly in his profession, this being a capital - expenditure and the library a capital asset; but he may deduct an allowance based upon the useful life of the library. If part of a professional man’s residence is used by him for office purposes, a proportionate amount of the depreciation sustained may be deducted, based gen- ° erally on the ratio of the number of rooms used for such purposes to the total number of rooms in the building. The . same principle applies if a taxpayer rents to others a portion of his residence. Under such conditions, howéver, the taxpayer must include in his gross income the rentals received. : :

{Mall Dealers) ; Hutual

FIRE — CASUALTY AUTOMOBILE INLAND MARINE INSURANCE at substantial savings

4 1bs., $4.45;

“ [Mexico (peso) ...

STOCK PRICES

DRIFT LOWER:

Eastman Kodak Down $5.75; Loft Weakens on Ruling Against ‘Cola.

the stock market during the first Trading picked up moderately.

reasons were circulated to explain

the sell orders encountered a thin

point. : Loft was weak early and touched court decision Wednesday enjoin“cola”

the word names.

mentioned in the suit.

to more than a point and nearly all made new highs for the year. The gains followed a rise in sugar futures which in turn was induced by reduction of sugar quotas. Automobile issues firmed on a contra-seasonal rise in production. Railroad shares eased on .a more than seasonal decline in carloadings. Steels had small losses. Coppers were steady to slightly lower.

HOGS SELL 10 ~ CENTS LOWER

Top Within Nickel of FiveYear Low; Vealers Drop Half Dollar.

All hogs sold 10 cents lower at the Union Stockyards here today, the Agricultural Marketing Service reported. Top price was $5.55 on 180 to 200pound weighbs, only five cents above the five-year low on Dec. 11, 1939. Vealers were 50 cents lower with a $11.50 top. &

307 22 .... 8. 559! 28 .... 5.58 | Packing Sows {Good and Choice—

.80| Good— .60 360- 400 4.25- 4.40 45, 400- 450

45] 4.00- 4.35 .35| 450- 500.. 3.90- 4.10 4.95 M

95 Medium — 4.75| 250- 500 3.65- 4.00 4.60 Slaughter Pigs

[ “v7 Medium and_Good— 160- 200 4.30- 5.30] 90-130 3.25. 4.15

Slaughter Cattle & Vealers (Receipts 530) eer (Yearlings excluded) Good ....$ 6.50- 7.00

Choice—

-°900 § 900-1100. 10 1100-1300. 10 1300-1500. 10 9

-3 or

1 rips pared OOD Herirare

NOL

BIA a3 - 200 o

6.50- 1.00 6.00- 6.50

Petpet pt bh

75! 50 5 5 5 0 5

2 7 7 5 2

000 4-4-1

nd ° ..10.50-11.50 . {Common

Sa nN Own ’" S

— eeder, Stacker 750-1100. - 7.15 Cattle, Calves Steers, Heifers : (BeouiDis, 608) Steers

ixed— 500- 750. 0.75-10.75| Choloasi

Good— 800. 500- 750. 8.25~ 9.75] 800-1050.. Heifers 00d—

mon:

9. 9. 9. 1. 7. 8.

~ ©o - OO Den a, SB

Choice— 00-80 750- 900. 9.25-10.75!,800-1050., Seda 1°550- 1000 p30 900. 8.2- 9.50/ 200-1000 500- 900. 7.25- 8:50)

500- 900 Commsun— 500- 900.

7.00- 8.00

G Calves (steers) 6.00- 7.25! 53 down Choleer, Ss

s 6.50- 7.00, ed ium— .-.-$ 6.90- 7.000 500 down. _8.00- 9.25 M 1% Be 6 Medium. 5.75- 6.50) Calves (heifers)

Canner.,. 4.00- ¢.75/Medium— 500 down SHEEP AND LAMBS (Receipts 2081) Good and choice Tuwbs Medium and wood .oooiiiine:® 828: 10.00 OMMON cevv..0ee 7.00- 9.00

4.00- 5.00 2.75- 4.00

“sss ..00000000

wes ( ood and ag shorn basis)

Hogs—Receipts, 11,060; open slow; clo

down steady to 10 cents I

butchers off DY

5 to 15 cents; most! 15 cents lower; top, $5.60; 180-200 lbs., [email protected]; 22 @5.50; 240-270 lbs., [email protected]; 330 lbs., $4.65@5; good 400-550-1b. packng sows, [email protected]; light weights to $4. attle—Receipts, 2000; calves, 300; slow; draggy cleanup trade; prices weak to 25 cents lower on most killing classes; bulk steer crop common to just good kinds selling [email protected]; short load choice Texas fed yearlinfs, $12.25; few loads heifers 3rouna; Soling SBvard to 3 } COWS, . 29; most cutters under $5.25; canners, [email protected]; 3 an

heavier

ractical top weighty sausage nulls, 1a: vealers backing. 10011 oice kinds; closin FP LA and feeders slow. sing 288g OB Sheep—Receipts, 6000; late Thursday fat lambs strong to 10 cents higher; bulk under 100 lbs., $9.90@10; kinds lacking finish and heavier weights, [email protected]; sheep steady, fed western ewes, $5.50; most native ewes around $4.75; today’s trade fat gp ge cl IR 4 3 rs an at $9.90@10; best held higher; A one JE Aum 5.0 ov ound Sets sige iE : es aroun 19; westerns quotable $5.50. $ sholee

OTHER LIVESTOCK

CINCINNATI, Feb. 23 (U. P.).—Hogs— Salable, 2600; total, 3050; holdovers, $70: butcher 160 lbs. up, 10 cents lower; light-| er weights, 15 cents lower; sows weak to 25 cents off; top, $5.60; 225-250 1bs., $3.30; 100-140 1lbs., [email protected]; sows mostly $3.75

4. Cattle—Salable, 300; total, 350. Ca | PN TR TR 850-1000-1b. medium to good steers, $8.50@ Hinge snd Felten, ‘Sa 30: “top sates eifers, $6. 15; jnge Sis. wi ln @ top sausage Shee ; steady; largely nominal; and choice wooled lam Eres 0% YS and above: common and medium, $7.50

WAYNE, Feb, 23 (U, P.).—Ho to 10° cents lower: 180-200 Ibs. 180 1bs., $5.35; 200-220 1bs., $5.30: $4.70. 280-30 $4.45: 300.525 0; . $4.49; - 325-350 Ibs. $4.40; 350-400 33 $4.30; 140-160 Ibe $4.65; 130-140 lbs., $4.40° - 4 .13, | rou; y ’ » ’ calves, $11.50; iambs. $9.50. 84; stags, 82

FOREIGN EXCHANGE

NEW YORK, Feb. 23. (U. P.).—Follow are noon cable rates ws major pits

rencies: : Ss ange England ( und abet. 96 -— Canada ( PORT} 21eae 8 0% France (franc) taly (lira)

280 ibs

Tr teens Switzerland (franc) «... Holland (guilder) ..... Sweden (krona) «cseses Norway (krone) .sesse Denmark (Kroné) eee.s Japan (yen)

cs sespssne

cena

BUSINESS AT A GLANCE

By UNITED PRESS 3 National Coal Association reports week ended Feb. 17, bituminous coal output about 8,700,00 net tons vs. 9,800,000 previous week and 8,583,000 year ago. Worthington Pump & Machinery

TRADING GAINS}

A NEW YORK, Feb. 23 (U. P.).—

Prices moved irregularly lower on|am Am three hours of today's session. |Amerpwr Am&FPwWr

Eastman Kodak stood out as the |Am weak spot with a loss of 5% poinis|4m Ice to a new low at 148%. Various Am. the drep. One was that an invest- Am ment counsellor’s advice to switch [4m

out of the stock: was followed and Am P Al market. Another said traders were Am Rad unloading because of increasing du [4D Rell Pont competition in film produc-|Am tion. Du Pont rose more than a|im

Am Smelt Am 8 2612, off 2 on selling induced by a Am Store Am

ing several companies from using|Am in their trade|4l Loft is the controlling fac-|Am tor in Pepsi-Cola, which was not Am Am

Sugar shares moved up fractions | Anaconda ...... 30% Co

Atl C Li Atl G & W... Atl Refining ...

Repts.| Feb, Top Repts. 1500] 21 ....8 5.65 875 5 65 oss S 9898

[elolelolelololole! =

Coca-Cola _. Colgate-P-P ... an Colgate nf vss} medium .» 7.50-10.50| S31 EAA° 100s 5.00- 7.50| Col B

Com Credit 9.00- 9.75| Com Inv Tr 8.50- 9.00{C 8.00- 9.00| Co 80 .... 7.75 8.75 om & 8S . Con . Cong 6.00- 7.00 | Cons Cons Con, 9.25-11.00 sone Cop

Cons Cons

| — common 4.75- 5.75 209 down. 9.25-11.00 Cons 0 t B 7.50- 8.75 | C0

CHICAGO LIVESTOCK [5 more. active than early; weights 220 Tbs, €

0.|C v : Curt-W.

c& WL... Det Edison ...121

PR 53 sone G3

Abbott Lab ... 69 Acme Steel ... 48% s Exp ... 4 Air Reduc ..... 50% Alaska Jun 6 te egh Allied Chem ..1

8 Allied Mills ... 14% Allied Stores .. 33s Allis-Chal ..... 36% Amal Leath ... 2% Am Airlines ... 49 Am Bank Note. 19% Am Bosch ..... 7% ai Br Shoe... 1

Mm GaP & Fy. 25% -ar . Chains V. 30%

oal ..i.. lost . 3 >rys Sug .. ell $7 pt 25 3 pt. 8 32 5

aw Hide&L

cee

BI J . Sh ate

nuff ..... 69% Stl Fdies.. 28% tores .... 13% Sugar ..... 23% 22% T & T ...1717% 171Y% Tobacco ... 88% 88 TRB ads 0 bos Type ie 5% ater W. 10 Yoolen ot an oolen pf. Woolen pf. 431s

AI RIN NCIA nis ih ER WWD ANE, ~ a

90% 148% 5%

Atlas Corp ... Atlas Corp pf. Auburn Auto ... Austin Nich . Aviation Corp

Loco cb... 187s & Ohio’ 53 & O pf

& . Ar pf.. 46%

oe tase 7

tap PR Se

sll HLH]

. viene BI 4 pad ® 0 DO NNEND od ne owe B24 rap ROU RUOU DD on - FEF

. - >

re Q CIC ib bt i COTA rs “ee we

1 Packing .. G2 hahan Zinc.

Capit Case

a Pe

Adm J I pf ..113 Caterpillar T . 50% Celanese .. 78 Celanese pr pf. 118 Celotex . 11% Cent Agu Cent Foundry .

nt Viol Sug. 9 Coro de Pasco i

DI best pt J

priain-teed © 931 nam a . hecker Cab . 19% & Gt

O40 #420 DO DI = 300 © GI CI += op.

2030. 1b 48

0 ® 0 5D Ee NBN

THULE: ++

aaqaaq

lar a 35Ya El Illm vof..111% Graph Br .. 40 48 imax M Co .. 4 uett Peab ... uett P pf ...

ft 1a Dr

BITABIIND =a ULBDONI0 BINILIO HI LW LI.

BD TID ~T+= 1 DID 21 DI ON = DI LO ON ob UT 4 TNO I DO LI a

- DIDILIO =I Ciba LID +40) 00 a an -3

REE

te Wawa

om I T cv pf.1 om Solvents . m &

2 Fo Game Heaeas eran 55 3 is i 83 in RES

om I .e

WILD

Cigar «... Aire .... cigar .... s C vor of ..

ER Sua

A er 3 Laund oo. ons Oil ...eec0 C vtG «use

[2d

ons Edison {lm

= @°

* ~~ ®

rds Seat 2RSNRS S33 SNS SRD Sas

2 5 5 AD fuels

RAID BRD aes Se BARE SR SRS SS

On Ee Dots ea ye Lira FSF SW ) i" CANIS

rucible 8t .... Crucible pf .... Cub-Am “Sug .

= ENS SE

oD 03 > 00 50 13 5 83 1 8 + ON =

3s BID COLI ILD

00a 0S OCI CITY LES 00-400 EOLIAA LIL)

WOVOPINO-IN

TA ...0 Cutler-Ham ... 19% —D— 21% 21 18! 18%

Deere & Co «.. Deisel W G D La

Dist Seag 19 Dixie-Vortex A. 35% Dome Mines ... 21% Douglas Airc .. 827% Du Pont ......184Y% ll. East Air Lines. 31 East R Mill .. 3h

4 fe Pair, The .e.c. 4 Fair Morse .... 42 fajardo Sug ... 28% ed ft... 413 92d De t Bt or 1h e! amel.. Md Phen ..... 40 restone T ... 20Y3 First N Strs ... 45 Flintkote ...... 19% Francisco Sug.. : Freept-Sulphur. 34%

Sr 3

re Ww

. Be ©0000 WEIN

. WoO OND

MT aia aan

+e GI DINICI TRE 5 a CC RESSS FS BSS

all Print ..... am Watch ,., Harb-Walk 8 ayes ‘wens Q Hecker Prod ... 10} Helme G W ....108} sees 89%

Corp. and domestic subsidiaries 1939 net profit, $816,706, equal tc 54 cents a common share vs. $29,710,

or 23 cents on 4% per cent prior in 1938,

Herc Pdr .... Herc Pdr pf ..132 Hol Sur ee | Son Hud Bay M & 8 2614 24! Hudion Motor . 6% 6

©. 3 a9 ITD +a DJD Trash eee

++:

H+: LL: Soe

. .

stil

FELL

a FIER FEE dF

= o

eva’

aes

bed L000 08 0D

11:

HEED HE

oo .

oe’

. a rx]

BA 0G NAR

Hupp Motor «.o- 78 fr nd Rayon ....s 37%

I d Stl .... 86 nian © 14%

a. 5

[nyertype

arvis CO cocese 14% ra Ted cosee Li

Kayser Jul .... 13 Kelsey-Hayes A 13% 38%

vasense 16%8

;ambert Le Leh V C p ctNMan

Lion Lia Carb ...... 18} Lockheed Air .. A Loew's .: 36% Loft, ING ...e.0 37% Lone, 8 Cem .. 43} Lorillard

Lou & Nash

ack Tr ..eeoe 243 H .vooes 28%

- x ®

arshall Fid .. artin (Glenn) tin P +...

EE EER II >.

ae CROIba iis tpt OBI

CRN CO a he 3 - YW

uy She

iami Cop ... [ident Pet ..

. . CAMarais CI BIE

THR EE ERE

Qh IRD-T fg [a

urray [yers & Br..

Mi M M M oe \ «so 50 = Ne 2 | Nash-Kely ....., 6% N Ch & St L... 18%; Nat Acme ..... 18 Nat Aviation.... 12% Nat Biscuit ... 24% Nat Bond & Inv 18 Nat Cash Reg.. 15% Nat Dairy. pf A.113% at Dairy pf A.113% Nat Distillers... 258 Nat G

Ae aaa =

ee.

oN 0%

ba La

- ©e a

Norwalk T

»-.

sso

3. N

fon! 87

Eq 20 Omnibus ! Omnibus pf .... Otis Elev ..... 16 Outlet pf .....119 Owens lll Glass 61 Pee

RSD B®

4| Para Pic 2 . Parke Davis .. Park Utah ...... 2% Pathe Film ... 11% Penney . 893 Penn Coal & O.

Peoples Dr . Pere Mat pf ... 25 Pere Mat pr pf 33 et Corp Am Y

tts Co 1'pt. 8 ve ts 8c & Bh: tts Stl 5 pf.. ittston .... .. ymouth Oil .. oor B

vu UPTV UVO U0 UU SF orererct i

10% 1134 : [i she Pure O_§ ‘pt... 1% Purity Bak .... 14

ESSN

SEES ES

PSNR SSS

on -3 po Ope.

Sea

ate pS

Pa eno?

- » - eR a FERRERS NER

Chicago

HE Ets Ql Vai Comuith Edison wid . Dodge Mfg C

290000 seve veo

essere

srts0senessanse

Zenith Radio

sesesanane

43 wie '] 478 Lorillard vf ...158% 15¢ 1] 5¢

03 DICILI MIO CAB |

BOR

st £0)

BI wJeJWO NWN Pa

CararaD RAD ID 0D

NEW YORK _

DOW-JONES STOCK AVERAGES

30 INDUSTRIALS = - Wednesday «....ceceavees..o 148.34 Week AZO ccoscoccscansscnse 148.20 Month Ago ssetsssecegsanen 146.61 Yeur AO .oiveiseocsacaness 145.44 High, 1940, 152.80; low, 144.65. High, 1939, 155.92; low, 121.44 | 2

‘| 20 RAILROADS

Yer ALO ccccccccseciscscss High, 1940, 32.67; low, 30.15, High, 1939, 35.90; low, 24.14

15 UTILITIES Weidnesday ccc.eccespcrsccssse Week Ago sssescssscanssseee Manth Ago essence sensiesesse Year Ago est esseebnenes sae High, 1940, 26.45; low, 24.61. High, 1939, 27.10; low, 20.71.

Cs ape LW Boa

FRE FR FEST

16 119 “61

34} an

SERESRSNRRR Re

Nn Be)

aR eS

0 HoNRaaT SESSR

S 3

7; 3 1,

p 0

-. AD J

RSIS

SEES NSS

(NTA

STO

—0.31 —0.26 +0.32 +2.51

y! y

Rooublia’ Sti" Republic Sil pf 8 rn Met » 15

Ren Tob Blo. 41 Richtield oil’...

8 4 1 3

80.81 80.86 80.84 80.90

-0.25 —0.04 0.05

Sears Roebuck. Boater Taoouck. fit

Sha & vor LD Sheil’ Un Sui: 11

Skeny Ye 103 e Pk 000 24% Socony-Vacuum. 11

11+]

Je FF FER FAS @ @

» . - .

a ® * > 0 eo

Pelautograph .. [enn COrP «cue fexas Corp ... L PC&O

ex ware fex Pac L T... Thatcher o..... ACI INVIG . hird Av RY... Sn ompren Pr... ide A Oil.. Fimk-D AX ... [ransamerica .. [rans&W Air.. [ri-Cont ...... rri-Cont pof.... 20th Cent-Fox. nCv RT.. Twin Coach ... . ;

l F

. . ° .

Ulen & CO «oo. Und Ell Fish... Union B&P .... 14 Union Carb Un Oil Cal Pacific Pac pf

lank Aircraft ...

MD ~IOLIDIWI-

ERE FE SOR sede LHLLLEHL:

34. 50.3.8 Sees ®

Sh Cheb

C090 BI LILI +439 ©

IBS oo 200.40

Realty .... 13 Rubber ... 37% Rub 1 pf...112% Steel ..... 58% feel ‘pt. 116% S Tob 37s Univ L. T pf...150

8 | Vanadium .... 32% Van Raalte ... 39% Vick Chem .... 44 «. 28%

2|Va-Gar 6 iy Virginian Ry... 44%

SEES

WSS

GIL tI DLT

CAEarala GIk4 8304 CHRIS Babs

Wabash pf A... 1%

Warren

Web sen .. 4% W Pa El 7 pf. 112% West- Auto Sup 39 West Union .. 24% esting El ...113!

W & Lk E pf + 9714

White Sew M . Wilcox O&G .. 38 Willys Ovrind. 17 Wilson & Co .. 3%a Wilson of ..... 59 oO a] 40Ys % | Worthing or of 37% A — Yellow Tr .... 1832 41 4 Zenith Rad ... 15%

Young Sheet . Young Stl Dr.

transactions. Agents Figance Belt RR & St Belt RR Hook Drugs Inc com Home T&T Ft Wayne

Ind Gen Serv p va Ind Hydro Elec 7%

DilHE LH TC Ere Es

Thdpls Pat Sraos 72% N 1nd Pub Serv 77% *Progress Laundry

[+1

FEFIIR I

- . .

-_e

So Ind Gas & Elec Elec

> pid ©

Van Camp Milk com

RARER

. . .

American Loan 5s § American

{1+ "ee =

Home T& + Home T

>. a

Crabbs-Reynolds-Tay:. e 7 Pt ayne Ind Tel Lo 59

ndpls Water Co nterstate T&T 5%2% Kokomo Water Works Kuhner Packing Morris 5&10 Sto! Water Works Nat .Silk Hosiery 5s % | Noblesville HL&P 6 N Ind Tel Co 42% Trac Public Tel Co 4 Richmond Wat Wks 5

s.Dividend.

ernment expenses

pared with a year a

This Ye Expenses ,.$5,044,78 eipts .. 3.416,1

Br... 1%. Yakkashs Mot. 17%

Loan 5s 46... Citizens Ind Tel Sas 61

0 Wayne Ba 55. nd Asso Tel Co 4Y2% 5

ndpls Railway Inc 5% 67...... 314% :

Co 4Y, ros, 5% 50

30 42...

Trac Term Corp 5% 57...

and

AT Last Ye! ,832.95 $5,730,558,98 647.76 3 ,881,251.06 34,677,730.23 954,830.23 21.229.0

: E

SF )

+1 HE]

ER FESS!

plied EER Fraysse

8300 FEE BEF BSR 104

gt 102

24 1 ~ 8 :

CORY pare Tih BI Bus ans >

pa EIDE HAO 0h Sie eas EY Fae sn a A 0 © 3

w >

32% 39% 44

28% “hs

51 vl 17 4 1122 2 11390 97

59 3 36%

——

18 41

CIratItM RBS cnacoen

yes &

‘15% 15%

LOCAL ISSUES

The following quotations by 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 Stocks

Bid

& Stk Yds p Cent Ind Pow_7% pid

..e 13) 7% pid. 50}

Ind & Mich lec 7% pfd......109

Leeeasne 100 cesseees 84%

gs ptd. erv Co of Ind 6% pid ... Pub Serv Co of Ind 7% pig. ; 4.8% pid.

ve 64 ston denen 11

Bonds

1e00000ee

Co 5s.

ns 22232 SRE

S28 8

43... 8.....

F pa

$3.15 0

DOONVO GIA IOWR ol a To

3: 38

% a... Boh ll 89 55. ..103" Ronn

U.S. STATEMENT

WASHINGTON, Feb, 23 (U.

1 ar 1

820

-] eee ada ene tHE

«3 BI =t DICH «T=

Stata ch a on VI a RTO DIR 4]

ae FEST

Sa tH; yr

a —

. eac gross; a

3 Tas &

net

eee ae

++:

utter—No, 1, 31} silo. a

330 ee

deducti cen each full case under 55 lbs. will be

. P.).—Govreceipts for the current fiscal year through Feb. 20, com-

.29

be =

{ |1ain's report. to the British Empire

Charles J. Zimmerman

The annual Sales Congress sponsored by the Indianapolis Association of Life Underwriters and the Indiana State Association of Life Underwriters will be Saturday in the Claypool Hotel. Charles J. Zimmerman of Chicago, president of the National As-

» | sociation of Life Underwriters and

Connecticut Mutual Life Insurance |co. general agent, will speak on “Up-to-the-Minute Life Insurance Service—Today and Tomorrow.” Co-operating in the Sales Con- ® | gress will be the associations from Indianapolis, Bloomington, Calumet, Elkhart, Evansville, Ft. Wayne, Kos | komo, Lafayette, La Porte County, ® | Logansport, Muncie, Richmond, South Bend Terre Haute and Vincennes. Homer L. Rogers is state association president and Eber M. Spence is president of the Indianapolis association. ] : Other speakers will include Vincent B. Coffin, Hartford, Conn.; Ralph G. Engelsman, New York; Dr. Irvin Bendiner, Philadelphia, Pa. and Carroll C. Day, Oklahoma City, Okla.

Kinsey Co. to Move To New Building

The E. A. Kinsey Co. Inc, an- «| nounced today it is moving from its present location at 235 S. Meridian St. and will be located in its new building, 725 N. Capitol Ave, by 4 March 1. ig new structure, built by the Doliman Construction Co., has an office space of 1250 7000 square i of 8 | shipping facilities. The fy which sells heavy duty machine tools, mills supplies, abrasives and safety equipment, has maintained an Indianapolis pranch in the Indiana territory for ®lmore than 30 years. It has been at the present location 20 years. WwW. J. Radcliffe is president of the company, Cincinnati, and W. P. Burt is man-

stock room and

ager of the Indianapolis branch. 10:

Three machinery salesmen and two mill supply salesmen are employed in the local branch.

Perfect Circle Co. Votes Dividend

HAGERSTOWN, Ind, Feb. 23.— The Perfect Circle Co. has declared the regular quarterly cash dividend of 50-cent per share of 162,500 shares of common stock outstanding. The dividend is payable April 1, 1040, to stock on record March 14, 1940.

Paper-Making Film To Be Shown

A motion picture, “A Short Course in Paper Making” will be shown at the Indianapolis Association of Purchasing Agents meeting Tuesday noon at the Athenaeum. The picture, produced by & leading paper manufacturer, shows the processes necessary to convert timber into finished paper. Tom Scanlon, vice president and chairma nof the program committee, will be assisted by Howard Muller. George Mercer is president; Louis Moller, treasurer, and George Stalker, secretary. .

5 New Business Books Received at Library

Five new books on business are available at the Business Branch

of the Indianapolis Public Library|-

at Meridian and Ohio Sts. “The History of an Advertising Agency,” by R. M. Hower, is a Harvard business study of N. W. Ayer & Son advertising firm. Availability of Bark Credit, 19331938” was compiled oy the National Industrial Conference Board. Others are “Getting Along With Labor,” by L. S. Plummer; “Salesmanship and Types of Selling,” J. R. Doubman, and Corppagion a Partnership Insurance,” 1 Simon. :

. ~ 5

£51500 Expected at

304,848.7 06,425.99

Linoleum Show

Renard Linoleum and Rug Co. will hold its annual spring open house at the showrooms, 23 W.

tn | Georgia §t., Monday, Tuesday and

32c: Ne. Os oN a ase,

‘INDIANAPOLIS CLEARING HOUSE «+ .$8,605,000 we. 6,716,000

eRRS, Is. Fisher,

made. 2. 20'2@

Wednesday next week. Oliver F. Shaw and Ernest K. associate managers, said more than 200 Indiana merchants are expected to attend. Representatives of linoleum factories will demonstrate latest methods of laying linoleum in the home.

ont FE 4

83 +B

tocks ;

Double-Breasted

3 i weflon Buiee seliing ; Bus, Gra and including Eiims,

519

' Newest Single und

Models

1.75 With ky Ponte

up to and Newest Shades of

SORES, $m TH BoriP oth Bootie

136 Fast WASHINGTON ST

dquare feet and}

with headquarters at] 9:

“The|

fistatement with the Securities and

ON THE

7:00—Kate Smith, WFBM.. 7:00—Concert Hour, WIRE.

Betty Field and John Craven are co-starred in the radio version of Elmer Rice’s “Two On An Island” on the Kate ‘Smith program, CBSWFBM, 1 o'clock tonight. Kate will repeat her new novelty number, “The Woodpecker Song,’ ‘introduced last week. - . 2 2 ae Giovanni Martinelli will be in the title role in the broadcast of Verdi's “Otello,” at 1 p. m. tomorrow from the Metropolitan Opera House, NBCWLW. Lawrence Tibbett will sing the role of Iago and Soprano Elizabeth Rethberg, Desdemona. 8 8 8

Prime’ Minister Neville Chamber-

concerning the war will be carried by CBS-WFBM at 9 a. m. tomorrow. This second report of the Prime Minister will be broadcast from a meeting in the Town Hall of Birmingham, England, his home city. ” ® 8 The music of Jimmy James’ orchestra from Tom Devine’s Music Hall here will be broadcast over WLW at 11 p. m. tomorrow ... NBC-Red network will carry ea

RADIO, with Don Lash of Indiana State Police and Gregory Rice of Notre Dame competing at Madison Square Garden, 9:30 p. m. tomorrow ... Edward G. Robinson is to head the cast on the Screen Guild Theater's play, “Blind Alley,” CBS-WFBM, Sunday at 6:30 p. m. ‘

Foreign short wave news broadcasts: Moscow, 6 p< m.»RV96, 1524 megacycles, and RNE, 12 meg.; Rome, 6:30, 2RO, 11.81 meg. and IRF, 9.83 meg.; Madrid, 7:25, EAQ, 9.86 meg.;' Berlin, 9:50, DXB, 9.61 meg. and DJC, 6.02 meg.; London, 10:30, GSC, 9.58 meg.; Paris, 10:30 TPB11, 11.88 meg. and TPA4, 11.71 meg. Sy 8 a 8 ; Orson Welles and Joan Blondell are to play the leads in a radio ver= sion of Howard Hawks’ aviation story, “Only Angels Have Wings," CBS-WFBM, 9 p. m. Sunday... U. 8. Senators Robert F. Wagner (D. N. Y) and Sheridan Downey (D. Cal.) will lead speakers on Mu=tual’s “American Forum of the Air” in discussing “Social Security and the Townsend Plan” from 7 to 8 p. m. Sunday . . . Jack Benny, who has been in an infirmary cot since last week’s ski run at Yosemite, will be “surprised” with a birthday party, in Sunday night's 6 o'clock show

description of the three-mile race 8 8

INDIANAPOLIS WFBM 1230 (CBS Net.)

:00 Kathleen Norris :15 Golden Store 4:30 Hallvywood 4:45 Scatterkood

£:00 Billy & Betty 5:13 Hedda Hopper 5:30 a WW Kaltenborn 5:45 uropean News

Girl Alone Midstream Dick Reed O’Neills Lady Luck Dessa Byrd D. A R. Hoosier Bports 6:00 News Pleasure Time 6:15 m & Abner Mystery 3 Prof. Quis reasure Hunt 6:45 » ” Dick Reed 7:00 9:15 3:38 45 g :00 Johnnie Presents Walts Time 8:32 Firss Nighter Hit Cayaleade

Kats Smjth »

- Congert »

® AR

over NBC-WIRE. i 8 ss = Hy

THIS EVENING

(The Indianapolis Times is not responsible for inaccuracies in ro am nouncement ha by station changes after press time.) io

INDIANAPOLIS WIRE 14 (NBC-MBS)

4 sae) CINCINNATI 4 WLW 200 (NBC-MBS) })

Kitty Kee - Pdntrema 2 V Jack Armstzong Jamboree

CHICAGO WLS-WENR 870 (NBC Net.) - Radio Neighbors

Anthony Frolics

Brief Case Stories Bud Barton Tom Miz

i *

' Fred Kirby od Baker & Denton 1 Don Winslow i

Lowell ‘Thomas

Fanfare Pleasure Time ! News a

Concert * News ; Discussion Clud Amazing America Carson Robinson

4 Stars Ta | Inside Sports A (Col, Stoopnagle o Carson Hobinsom » ” 3

Plantation Party 4! Hit Cavalcade

Plantation Quiz Show

3 Grand Gentral Listen, Indiana

atur N

ews Basketball Glenn Miller

Amos & Andy News Tony & Bill Kaye's Or, ° Paul Sullivan

b Chester oble’s Or.

Recordings

”» ”» ' Orrin Tucker

SATURDAY

INDIANAPOL WFBM 250° - (CBS Net.)

Early Birds

(N Dawn Patrol ”

Basonology News 100 jchard Maxwell Breakfast Club 312 Gla Vienna spktast C1 3 Varieties "n » “9: Hymn 38 Staink Time Cloutler’s Or, 9:30 N, Chamberlain Betty Moore 45 ” ” Music Fed.

he A . New, Eng, Cons. Auaon Weeks

”» ”» ” ”» ” ”» LJ ”» . Call to Youth Farm Hour

Country ,, Journal Farm Cirgle

a8 ..

d Memories Midday Markets

Rhythm Ensemble Reporter n n BI Headlines

Griff Williams

fk ty 1900309 tas Had

Follies

Elliott Or. usic for You Composers’ League Melodies

”» Brigette’s or,

.e > oC .. SRS K3n3

Sweetheart Son Campus Capers Leign's Or.

Forum Buffalo

Presents

”

S300 { 10102010 | bit pus pus | 29

£853

Human Adventure Scholarship King's Or. ” »

oka &353

COLD WAVE SPURS "BUYING OF WHEAT

CHICAGO, Feb. 23 (U. P.). — Wheat prices continued stronger on the Chicago Board of Trade today under the influence of Winnipeg strength and prospects for a cold wave in the Southwest. : At the close of the first hour wheat prices were up 1 to 1% cents with May at $1.06% a bushel. Corn was % to % cent higher, oats up % to 5% cent and rye up % to 1 cent. Soy beans were 1 to 1% cents

g : 'ommy Dorsey 9:30 Believe It or Not Behind Headlines 9:45 “> » Human N e

ANAPOLI1 INDL p 06 8 MBS)

essa Byrd Childrens Hour

American Schools

Ambers ys. Davis Melodies,

Unannounced Melodies News, Musio Pater, Sram

” Carl Lorch Ranny Weeks __ Moon River ” "

Count Basie will Bradley

PROGRAMS INDIANAPOLIS > WIBO 1050

Devotional | Carter Family

Breakfast Jam

WLW _ 1700 (NBC-MBS)

Tex, Millle, Dollie Mornin’ '

Tex Owens

ews Helen Diller Little White House

Helpers Club Clem & Maggie Air Synagogue News wi

Bind, Wakon

"Memory Lane Mail Bag Y Music Magic ” : Gems in Melody Betty Moore Words & Musio Thrasher Trio Friendlv, House Strings That Sing ; Police Safety Let's Visit Varieties Story of Wool

Karpival Man on Farm Checkerbeo Everybody's Farms heekarboartan ZT

Farm Hour anch Boys ome Folks owers Band

Request , Time ”» ”

Fortunes Everybody’s Farm Waldorf Luncheon =

Metropol, Opera

” Ld ”» ”»

Varieties oo ”

” ”

Nat, Shilkret

1940 Census Story . Dr. Swing Aroynd Town

” ”» *” ”

” Magic Waves Truly American

———

KEY NETWORK STATIONS (Subject to change): CBS—WABC, 860; WIR, 7150; WHAS, 820: KMOZX, 1090; WBBM, 770. NBC-BLUE—WJZ, 760; WOWO, 1160; WLS-WENR, 870; NBO-RED-—WEAF. 660; WTAM, 1070: WWJ, 920; WMAQ, 670. MUTUAL-WOR., 710; WHK, 1390: WHKC, 640; CKLW, 1030; WSM, 850.

KWK, 1350.

DAILY PRICE INDEX

NEW YORK, Feb. 23 (U. P.).~ Dun & Bradstreet’s daily weighted price index of 30 basic commodities compiled for United Press. (1930-33 average equals 100): 3 Wednesday «oceecessanncecses 119.04 WEEK BED suse vicensssnnseess 11924 Month 880 eecescessnrscsses 120.59 WERE REO Lsosesiiensseriiesis 10613 1940 High (Jan. 2) cecevee... 12354 1040 Low (Feb. 14) «.eveess.. 1183%

higher.

———————— FOOD PRICES MCHICAGO, Feb tah. bu. ST Iba, Sweet Potatoes—Tennessee. .

Market -1b. sa 90c: illinois, yellows, #0c: C Spanish, 80c.

RUSTLESS TO SELL STOCK WASHINGTON, Feb. 23 (U. P.).—

Rustless Iron & Steel Corp. has filed amendment to its registration

Exchange Commission stating that its forthcoming 40,000 shares of

“T8681 YOUR, KNOWLEDGE OF

Tonight 9:00

.. the Spafkling New

WLW.

common stock will be offered publicly at current market prices.

GREYHOUND LINES |

Tx 93rd Annual Report

the annual meeting on April 9, 1940 $70,546,537 or 19.6% over 193 $49,853,502 or 19.4%. Net in $11,046,100 in 1938. Surplus was $2 share) upon the outstanding Capi 0.46% (23¢ per share) in 1938

Torar OPERATING REVENUES Were. ce eeees Tora OrerATING WOIC.asves sce

Leaving Net

His or Equipment AND Jomnt Facmury Maxie Gross INCOME Of. oes vosrecnncncn Leaving Ner INCOME Of. oo oeveeevancsnns char, paid as to the earnings and

improving

OPERATING RESULTS

rroM Ranway Operations of. .

Leaving Ner Rannway Operating INCOME Of. oo. sasee Income rroM INVESTMENTS AND OTHER SOURCES Was. ....

ArrrOPRIATIONS TO SINkNG AND Orrer FUNDS, etC.. .oae

A dividend of 29%, ($1.00 per share) was paid December 18, 1939 and d to Income as against a dividend of 1% ($.50 pet share) which was ber 20, 1938 and charged to Profit and Loss. ~~ : The Management, through the press, has kept the stockholders informed - finances of the Company, and the the service. The security holders, the have been extremely helpful, and it is through Company 8 able to give good service, tions and pay divi a

THE PENNSYLVANIA RAILROAD SUMMARY OF ANNUAL REPORT FOR 1939

of the Pennsylvania Railroad Company covering operations for 1939 will be presented to the stockholders at

. Total operating revenues increased 8. Operating expenses inc s $32,032,52% as“compared with , 177,686 equal to 3.52% ($1.76 per Stock (par $50) as com with’

1939 1938 $430,030,7718 $360,384,242 306,000,835 257,047,243 . 124,020,043 103,336,998 40,095,847 37325,338 6,620,768 .' 8,718,171 77,304,328 57,332,808 36,864,230 36,226,180 114,168,558 03.559.078

S080 000000

®ecscscesne

Were. .o0

esses ssnece

FPixep Cuarces, Cuierny Renrais Pa To Lease Roans, AND InTerEsT ON THE COMPANY'S DEBT .0v00eeee, _ 83,136,003 82,512,078

ees ssssne

11,046,100 8,035,319 3,010,782

5 32,033,525 8,854,839 23,177,686

made in

public and the employees