Indianapolis Times, Indianapolis, Marion County, 30 July 1940 — Page 11

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THE we a TIMES

PAGE 11

TUESDAY, JULY 30, 1940

TWO UTILITIES

N. Y. STOCKS

SEEK TO BLOCK TAX INCREASES

Hoosier Firms Contend Rates Arrived At by Arbitrary Methods.

Two Northern Indiana utilities are seeking to avoid payment of an 4 estimated $135,000 in 1940 property Am & F P $7 pf taxes, resulting from huge increases Am-H2% SL: m Hide & L . in their tax assessments, through Am Inter injunction suits filed in Superior Am Mach & M Court here Saturday. Am P & L 6 pf The Northern Indiana Public pm R&L 2 nf 4 Service Co. and the Chicago Dis-|Am Roll Mill trict Electric Generating Corp, both A™ Ship Build. of Hammond, obtained temporary|am Sugar pf... restraining orders prohibiting the Am To ar 2 Stete Tax Board from certifying am Type Fr ... the increased assessments of their Am Water Ww properties to county officials in the Am woolen various counties served by the firms. Sept. 3 was set as the date for the hearing on applications for a temporary injunction against the State Tax Board.

Contend Taxes Excessive

The companies contend that the Increased assessments are excessive and were arrived at by ‘unlawful, capricious and arbitrary methods.” The assessed valuation of the ggrier Bros Northern Indiana company was in- Beatrice nS “ creased by the Tax Board in May pest & ‘Co ... from its 1939 figure of $40,743,325 to Beth Steel $43,800,000, while the Chicago Dis-| trict firm's valuation was raised approximately $1,000,000 over its 1939 assessment of $18,819,640. These increases would cost the Northern Indiana company an estimated $100,000 and the Chicago firm an estimated $35,000 in taxes. The utilities alleged in their complaints that if the capricious methods used by the board in fixing the assessment are provided for by statute, then the law is unconstitutional.

Ciaim ’39 Rate Too High

An attorney for the companies gaid he did not know just how the mssessment figure was reached, but that he had understood the Tax Roard had included stocks, honds, gross income, ete., in fixing the figure. He asserted that this was illegal in fixing valuations for property taxes, The companies alleged that the | 1939 assessments were already on much higher ratios to cash value | than the assessments of other concerns and taxpayers in their area. They declared also that the additional improvements to their prop- | erties during the past year were of no such nature as to justify the huge assessment increases. Frank M. McHale, Democratic national committeeman, is the attorney for the utilities. C. R. Benjamin, Tax Board member, said that the assessments were increased because the board thought the property more valuable than it was last year. He said that the law provided for the inclusion of stocks Sam Sug and bonds in determining the valu- | Curtis Pub ation of the utilities. Curtiss-Wr

CHARGE SUBSIDIARIES i: + 5 MILKED BY RAILROAD

WASHINGTON, July 30 (U. P).|pu ~ The Senate Interstate Commerce | gubcommittee investigating rail-| East Air Lines road holding companies charged 1o- | Eaton Mig. day that the Missouri Pacific Rail- | Eitingon Sch road “milked” Gulf Coast lines “to | pee Romy the verge of bankruptcy” through a | Elec Pwr & Li system of intercompany dividends. | Eng RS LY nt Summarizing the report, Senators|Eng P § 5.50 pf Burton K. Wheeler (D. Mont.) and [fron bred .. Harry S. Thurman (D. Mo.) declared that under Missouri Pacific | Fair Morse .... control, the Gulf Lines—New Or- | Fajardo, Sug ; leans, Texas and New Mexico and RE aD. hi Py its subsidiaries—earned $90,000 be- Foster Wheel tween 1926 and 1931. Despite these low earnings, which | 33 W were exclusive of dividend income |Gen from the St. Louis, Brownsville and | Ge & Mexico, a subsidiary, the Gulf Lines | Gen declared dividends of $6,300,000, extracted largely from the Brownsville, during this period, they said. From 1926 to 1931 the Browns-| ville was caused to declare dividends | Ger y to Gulf Lines totaling $8,500.000— Gillette, Ry

Adams Exp ... Air Reduc

A Cp Allegh Lud Stl. Allen Indust ... Allied Chem... | Allied Mills | Allied Stores Allis-Chal - Am Airlines . Am Bank Note . Am Bk Note pf Am Br Shoe... Am Can Am Car

{Am Zine pr Anaconda Andes Cop Arch-Dan-M | Armour TlI . | Asso Dry Gds. . Asso Inv pf ... Atchison Atl Refining ... |Atlas Tack . | Aviation Tack Aviation Corp..

ol.

| Bald Loco ct .. | Balt & Ohio... Bangor & Ar...

Borg-Warner Brewing Cp Am Bdgept Brass

Burlington M. Burroughs .... Putler Bros Bvers M

Callahan Calumet Canada Dry Carpenter Case J Caterpillar Celanese Celanese pr Cerro de Pasco Certn-td 6 nprpf Ces & hio

Zine. H.

; nf Chickasha C.. Chrysler Cleve Im pf | Cleve aah Br Climax Mnlv Co Cluett Peab Coca-Cola Soleate So P

|Col & Gol Noahs B Com Credit {Com Solvents Comwlith & So | Comw Edison Cons Aircraft Cons Cigar ‘ Cons Loprmns ' Cons | Cons | Stain Cont Bak B Cont | Cont | Cont Copweld Steel Copweld Stl pf. (Corn Prod ... Crane Co . {Crown Cork . Crown Zeller | Crucible St

Deere & DD lac & VW ... Diam T Mot .. Doebhler D Cast Douglas Aire ow Chem Dresser Mfg Duplan Silk

Pont

Pont pf

Gobel, Adolf = $2.000.000 in excess of its earnings, Goebel | Brew ft was alleged. Goodrich After acquisition of the Missouri|Googvear acific System Vv 1 J gnany sruomman Air fic = bv the Allegl C Corp. top holding company of the |" M & No of Van Swerigen railroad empire, the |, Annas ok. CL “milking rncess’' was intensified Harb Walk m p Ha lk the report declared Hove! At Gi Howe Sound Trade today. Other grains were 8 + cent, 1, to 3¢ Kennecott Winnipeg prices remained at pegge

. | Hecker Prod WHEAT UP FRACTIONS Hudson Motor around steady to firm. ] gs cent. d Kresge S83 limits.

wt...

Ill Central . Inland Stl .... Inspiration Cop Insshs cts Md.. Interlake Ir In Business M Harvester. . Nickel P&P P & P of t RC Shoe " & DS

Herc Pdr Homestake CHICAGO, July 36 U. P).—| Wheat, futures opened somewhat er, September 75@75'4 cents. Corn was unchanged to ': cent higher; 7. Intst wheat markets were firm at the out- gayser Jul ..... et, Minneapolis 4 to 2 cent higher | Kelsey Hayes A

Herc Mot IN CHICAGO TRADING i: sus Hupo Motor firmer on the Chicago Board of Wheat started 4 to 3 cent highoats up 's to ! and rye up Minneapolis and Kansas City Isey Haves B and Kansas City up 's to % cent g Kroger GrB

LOC AL 18S UES

the Tndian-

[Lambert | Lee Rub

| Lehman L-O Lockheed Aircft Loft. Inc Lou & Nash

The following quotations hy apolis Bond & Share Corp. do not reprepent actual price offerings. but merely indicate the approximate marke: level based on buyi ing and selling quotations of recent transactions Nsiek ‘te Macy RH Manat: Sug . Marine Mid Marshall Pld Martin (Glenn) Martin Parr Masonite Corn Mathieson McCrory {McIntyre Pore . | McKesson Roh . McLellan St Mead Corp “ |Mengel | Miami Cop {Midland Stl

Ask

Stocks Corp Ys Yes pfd Drug, nc com T&T Ft Wayne 1. Co $6 pf 70 pid nfd pfd

Rid com “a com pf 53

Finance

% pid

and Hydro Elec Indpls Gas com Yndpls P&L com Indpls P&L 675 Indpls P&L 2 Yndpls Water 5% sLincoln Nat Life N Ind Pub Serv 5'27% N nd Pub Serv 67% N Ind Pub Serv 7% pfd Progress Laundry com AN Pub Serv Co of Ind 67, pfd.... Pub Serv Co of Ind 7% pfd .. *S0 Ind G&E 4.8% pfd . pid. 3

| Mueller Br . .. Mulilns Mfg B.. Terre Haute Elec 6% Union Title Co com. Van Camp Milk pfd Van Camp Milk com Bonds

Loan 35s

:, wn Kelv Nat Acme Nat Aviation ” [eat Biscuit | Nat

| Nat | Nat | Nat Nat Lead | Nat Nat Nat Nat

American American Loan 55 486 Citizens Ind Tel 4'us Crahbs-Revnolds-Taylor 5s 42 Home T&T Ft Wayne 5'zs jiome T&T Ft Wayne 6s, 43 nd Assoc Tel Co 3'28 70... Thdpis P&I 3%s 70 . “on Indpl!s Railway Inc 5s 57... Indpls / 66 terstate

Kokomo Water Works 5s 58 ..

a Mal&Stl C Pwr&Lt . Steel pits Nat Sup Penn . Nat Sup 5% Newport Ind

L Silk Hosiery Ind Pub Sery

3 ich mona Water Wks

Tege | Teme Corp 5s ov.

Alaska Juneau. pf $30 ww

.148'2 » 11% 6

& Fdy !

9 |Am Woolen pf . 3%

Stl. 2

' 297s pf 116%

.. 104

10's . 3034

CIR

vr J4% oo 28, . 1434

oi D8

« 15%

182

od 124%

LAR;

. 317%

. 18%

Am pf 38! ‘ 28

pf B 141

pf.

By UNITED PRESS

Net | DOW-JONES STOCK AVERAGES Last Change 30 INDUSTRIALS | Yesterday | Week Ago 3% Month Ago Year Ago High 1910, High 1939,

High Low 40.50 +0.1% —0.16 40.10

5% serbensensn,,, 122.23 40 4; 9 21% 87s 148'; 11%

6 317%

"5% a, | 152.80; Low, 155.92; Low, 1

30 RAILROADS

87s

3; | 4. Vg | Yesterday 4 1% . oh 1 Month Ago . 1 2! Year Ago + Val © High 1940, Va : q 8; | High 1939, 1a Yesterday Week Ago | Month Age Year Ago . High 1910,

High, 1939,

32.6%; Low, 22.14, 35.90; Low, 21.14, 15 UTILITIES a" 3% 93.08 2.8 26.24

v 1 LY 's

4 -—{). 07

26.15; 5.10;

Low, Low,

Net

High Low

Ghio Ol 3% Otis Eley 5 Otis Steel Otis Stl.cvipf 2 Owens Ill Glass 5!

8 1,

1 1

‘a

Lae Am Pac G 2 | Pacific Pac Tin Packard Pan A Airways | Paramt Pict

Fish . * Bl... “Cons

DEDIR NOD WR JOD NAWWOD I

8 8 8

Be tI aT

Phelps one Phillios Jns | Eniilibs Pet Pirelli Pitts Sc & B Pitts Stl 5 of. Pitts & /Va Plymouth oil Pp

-o WW

= -

143% 35a 853 4iL 22% 29

ow @ 2; o dk fk e 03 INN NDS 1 kd pk

1 Ya

- 3 Ww Xe AN

Postal Tel Press Stl Car

2 aa

Y y,

» KN a> N® a a

Th BO 0D

a IES —_LI on

Pure Oil

a a - 3

Quaker St Oil

Pk ING pb et a It 1D et Bk a — -

Radio Radio pf Reading Reis 1 “ Rem Rand \ Rem Rnd pfww | Republic Stl | Republic Stl Met

“ OY

BO AR WODONND WB ToT OTTO ra) i] oa =» 3 Fa -

w pr BD wt “DW OU Ty de ~1-1 180 14

8 BOs - B Wet WW AVON ADT TT) 74

EP] ,oa ~N PS PLE)

pf >» Reyn “uly | Revn Spring | Revn Tob B Richfield Oil

“0 wl

hd AD “TB IDO BOW - -~ w OAD DDT1-T-T0 13

- AWW LE RS

Safeway St Jos Lead St L-S Fan pf. Schenley Dist.

pf 103° : 103 33

- wo N

Oil Roebuck Servel Inc . Sharp & D pf, Simmons “rie Snider Pkg Socony-Vacuum Soeast Grevh 1 27 S06. Chl BG ..... - South Pac South Ry ‘ie's South Ry pf .. , | Sparks With .. Sperry Corp Spicer Mfg Spiegel Inc Square D ..... | Std Brands

tk pk AT TD

24 22 381%

aoa oa

CE ER

72% 120 33 27% 323

® >»

11'%

19 291

Naame» exaIw

LBD Wet DH DN NNIP ~~ D-TLIBDD

4 2

Wo a) 1.2 » » 22 na WN

29 wt

1'%

TO 4 00 Tye DC

LOI wt . JOD IWARDW=~ N= DDD

205% 93g 51, 28%

Stone & Web. . Studebaker Swift & Co Swift Intl

Kasam tp od 0 XBL aaa

. Hh apd

Tenn Corp Texas Corp Tex G Sul... Tex PC & O Tex Pac L. T Thatcher { Thompson Pr 33 Tide W A Oil. Timk-D AXx.... Timken R B . Transamerica Trans & W Air Truax Tro 20th CentTWih CR T

ows OLIN Ico ® ®-

54 499%

No wo ow CR Sa RPS

a 8

107%

are

Fox pf

67a 24% 18 | Ulen & Co..... Und Ell Fish .. Union B & P .. Union Carb ion El Mo of Pacific

—T

3s 6 19 71 { raft . Air Lines.. Carbon Carr Fast United Corp United Cp pf Un El Coal United Fruit Un Gas Imp US&V FS

149 MN 10" 159"; 124%,

20'% 10g Rl

i 20a 120 117 1 “4

287% 119; 32 u ' U

U X U

US Un

S Gypsum .. S Pipe & TF . 181 S Rubbe; 3 32 is 81 Vanadium Vick Chem .. | Virginian Ry

“8

112 L 1 36% Wal Wal Walworth Waukesha Mot { Wayne Pump W Pa | W Pa El 6 pf W Pa El 7 pt iW Pa P pf ‘ | West Auto wid . West Md . West Union West A Bk Westing El Weston El Westvaco |, Westvaco 5 Wheel Steel White SS Dent White Mot. .. White Rock .. White Sew M Willys Oyetland Woodward Woolworth A Warthington ,. Wright Aero

een 3 3

w ph

WU Xa aa

In. pf.

od ER eg atatmon pd

» MADE AAA

oa ABD AAR » on»

A310 UN 0000 0D a Le

WRI Are ND

PITS ne a BIND BO BOWS ee OY

a 13 pd SPY tt 1.3 et Vk

1 | Yellow | Young Young

1't Sheet

Stl ™

Ye: B 1%

5 R

LOCAL PRODU CE |

breed hens Leghorn hen | hens

| |

” =

Heavy

12c. bareback hens llc

8¢; barehack I.eghorn 5. Barred and White Rock spring ers, other colored heavy breed tie 13c, Leghorn soringers 12¢ bareback springers. 10c. roosters, fe Nn. 1 strictly ‘esh country run eges 10'2¢; each full € must weigh 5 1hs gross; a net deduction of i5¢ for each full case under 55 lbs, aril he mace Butte; NO. 1 wa 30¢ No 28c. Butterfat— Ne I a5¢. No (Prices quoted bv Wadl lev Co.)

PIs L300 = BDO —DD ENDS Spa

WAGON Indianapolis grain for No. 1 wheat, 67c; change; other grades on corn, No. 2 vellow shel led. shelled, 69c: No 2 _Whi

Ww HE AT elevators subject

are paying 10 market

e oat

Ne. white

France fates Huge Task of Financing Reconstruction

(Via Air Courier to Ber-stice a land of idle wheels,

Ta 4 Co Ya 1 .

PARIS lin), July 30 (U. P.).—Finance Minister Yves Bouthillier told the United Press today that French industry would have to finance its own reconstruction. He said each industry would have to raise its own loans under Government guaranty. These reconstric- = tion funds will be gradually liquidated by a turnover tax. Observers said consumers in reality would finance reconstruction of France's shattered industrial machine One spokesman said: “This plan has met with Germany’s approval Naturally economic relations hbeTh tween France and Germany will be 1 * very close in the future. Commer{cial treaties are being prepared toward that end.” | Tt was understood that France's leconomic 2 within scope of Europe's new eco3 ‘nomic order recently outlined by i | bY the German Minister of Econs omy, Walther Funk. ul The French Government has decided to make 2,000,000,000 francs : ($40,000,00) available for reorganiza- . tion of farming in the German-oc- = cupied area and to prevent a food | shortage. Government circles feel that reconstruction - of thousands of destroyed bridges, thousands of miles of railway trackage and motor highways depends on resumption of industggal activity, France

3% Ts 1 3a 1 A A | |

LIL Lake bIL3 rd Fm ADTIVI ABI ATID DODDO A - - Um ed -D FER AT ANIL AEN

3 w

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a ~ DOs ~~

Bok fk DOO a =»

597

Va |

Ya EK)

1500 PLAN U, S. 40 Years With Reilwoys | POST-WAR ROLE

| Observers of 42 Nations! Watch Foreign Trade

Convention.

L029 Of the United States in

| |

Last Change {rade convention, {its four

's bank presidents,

12 Japan had the biggest delegation.

4 |

‘of the world.

, themselves,

i could be of great assistance to each

f IW

thei r merits. Cash |S, Wright,

land packages awaiting delivery. reorganization comes)

| . | servers of 42 foreign nations today | 10.16 watched 1500 American businessmen | 0.17 and diplomats planning the future

By DON CASWELL |

United Press Staff Correspondent. |

SAN FRANCISCO, July 30.—Ob- |

foreign remade the

trade after war has world. The 27th annual national foreign in the second of attacked the problem | to hold the vul-

days, of whether to try nerable, far-flung lines of United State commerce. or draw back into the Western Hemisphere. The convention delegates were shipping magnates, railroad leaders, exporters, importers and high officials of the Department of State. Official observers of 42 nations were in the galleries, including representatives of every Latin American country.

Geist Voices Keynote

Raymond H. Geist of Washington, D. C, chief of the State De- | partments commercial affairs division, voiced the convention's chief problem last night. “If we are threatened,” he said, | “the first onslaught will be against our economic security and the position of our trade in the markets] Against that eventu- | ality we shall need to avail our-|_ ~~ selves against every measure of protection.”

Most of the speakers agreed that HOGS DIP AGAIN: the war-changed world would di- | VEALERS FIRM PHILADELPHIA,

vide itself into four major economic P.) —Westinghouse Electric &

spheres: | Manufacturing Co. today began

1. The Americas. 2. Europe, dominated by the Axis] powers. 3. Russia and the nations it has : ; tae absorbed and will absorb. Soaring Mercury Continues construction here on what it is The Far East, dominated by | ; believed will be the world's most Tap, To Be Dominant News modern office building. The 3-storv stone and brick In Market. building will embody artificial daylight lighting: “mountain” soaring mercury contimued : ” > ABN ‘Oar . . C= to be the dominant market| Preezes all yea round; doubl at the Union Stockvards as demand again forced prices

James P. Tretton (left) vice-president and general manager of Indianapolis Railways who will celebrate his 40th year with the company Thursday is congratulated by Frederick Hoffmeyer, shop foreman who hired him four decades ago. Mr. Tretton went to work as a mechanic in the pits at the old Washington St. car barns for Mr. Hoffmeyer, who is the oldest employe in years of service with 53 years to his credit. Since Mr. Tretton has joined the transit firm the system has increased from 100 miles o? service to 192 miles. He was named vice president and general manager in 1935. A luncheon in his honor will be held Thursday at the Indianapolis Athletic Club."

'Most Modern’ Office Started

July 30 (U,

“We reluctantly

The today news light lower. Early trading in the hog division was unestablisned as traders dickered over prices. Buyers sought 25-cent reductions or $6.15 and down, while sellers held out for 15-cent lower prices or up to $6.25 a on 220 to 230-pounders. the Agricultural Marketing Service reported. The vealer market was about steady with both good and choice offerings selling at $9. Estimated salable receipts were: Hogs, 6300; cattle, 1500; calves, 700, and sheep, 1500.

Cites Threat of Credit must conclude | that we practically are witnessing | the elimination of the credit fac-| pane island windows set within glass block super windows; soundproof floors and ceiling; an electric germ trap to purify the

tor,” said Joseph C. Rovensky, air and kill mosquitoes; a roof

Chase National Bank vice president. “We must contend with mounting top “lake” to absorb the sun's heat rays; and uniform “climate” cre-

expenses and dwindling returns. It is impossible for the countries of] the Americas to live entirely to but if we adopt a determined policy between us we ated by piped in cold from a manmade mountain torrent. The building, which will accommodate 700 office workers at the company’s steam turbine plant, will be completed next November. Included in the building will be a 350-seat auditorium and a cafeteria Seine 600 persons at a time,

other.” Today's foreign credit, change session,

sessions opened with collection and exfollowed by an im-| porters’ group session and a luncheon with “the Americas” as its theme. Industrial and educational group sessions occupied the afternoon, and a world trade dinner was scheduled for tonight. Thomas J. Watson, former president of the International Chamber of Commerce, |" was to receive the Capt. Robert Dollar Memorial Award for distinguished contribution to foreign | trade interests of the United States. A special message from President Roosevelt was to be read at the dinner,

Monday, 29

July Tob Repts, July $ 6.65 08 26 6.50 ~: 6.15 3931 and Gills | $ 4.50- 5.10 5.005.25-

Top $ 6.50 6.55 6, Packing 300 330 360

b 1611 34 Barrows 120- 140 140- 160

250 3306.30 Good 160

~". ESTABLISHES RECORD

390. 5 59 Sn: 533) July 30 (U. P).—The 1.80 Acricultural Marketing Service to1% Oday estimated June butter production in the United States at 000 pounds, the heaviest output in| the history of the butter industry. ided| High milk production favored by | 679 cool weather and exceiient pastur- | 6.00| aoe was the basic influence in the |

50 heavy hutter output, |dicated The June figure brought 9.50 production for the first six months

CHICAGO 4.75- 5.10 4.40 4 15.

400 150 no im 500

150

5.00

250- 4.00

Slaughter Pigs 120 {15

30. 36 1

Corn and Wheat Region Official Weather

20 4 60

Slaughter Cattle & Vealers tReceints, 113% Choice- Year 5 750- 300 $10.00-11.00 Good it $ 900-1100. 10.00-11.00 Sausage 1100-1300 10.00-11 00 Medium 1300-1500 10.00-11.00 (Cutter and Good 5 ¥ 0 com r 00v0- 800. 9 0-10.00! eaters 900-1100 9.00-10.00 Gond and 1100-1300. 9.00-10.00 choice Pred, | 1300-1500. 900-10.00 common and Clear Meginm - medium 50- 9.0 PtClay |, 720-1100 50- 9.00 cyl) 6.00- 7. Clear 100-1300 50- 9 00, 1 Clondy Common — Feeder, Stocker ” 6.95- Cattle, Calves | (Receipts, 515)

lear 750-1100 1 Steers, Heifers Gjear Steers 9.75-10.50 C Sof ice—

Clear Choice— 0- 800

9.75 800-1050 Good — | 500- 800. 10.50 800-1050 Medium — 500-1000 Common— 500- 900 6.00Calves (steers) 5.50- 7.50) Good and choice— s 500 down 9.50-11.00 6.00- 7.00 Medium5.00- 6 00 50 down n 8.00- 9.50 | Calves (heifers) 4.00- 5.00 Good— . 2.75- 4.00 500 down 500 down AND LAMBS (Receipts

(spring)

exel 6.00. 6.00-

5.50-

July 50- 5 Precinitation

Tuesday, State of weather

Cloudy

High Low Notre Dame 9.00sngola Wheat field

PCOOODOSON

7 {on record. 7 50. | |

Cambridge City Columbus .

Clear PtCldy Clear C joudy Clea Pt Cldy

0- 9.75 said. However, - 900 ported by traders to be affecting | 0- 9.00 production adversely and although 5- 8.25 production for the current month was expected to be above average, no new record was AIR.

9.00Heifers . 99

Evansvilie . 101

ashingt

9.75-

+ FOREIGN EXCHANGE

P.).—Follow- | major curNet Chg

9.00- 9.75 7.2 Medium — 500- 900. Common — 500- 900

7.50- 9 60} 7.25

FUND 70 REIMBURSE LAND BANKS ASKED

WASHINGTON, July 30 (U. P.). President Rooscvelt asked Congress vesterday for a supplemental appropriation of $38,167,000 to reimnn burse the Federal Lank Banks and 2.25 the Federal Farm Morigage Corp for losses occasioned hy reduced interest rates paid to them An act passed last for two years rates on land bank and land bank | commissioner loans, fixing both for the period at 3': per cent Ten | million dollars of the request is to

NEW YORK ing are noon rencies: Enel and ‘an

July cable

30 (U rates on Cable Rates $3.86

Cow Good ... Medium | Cutter and common. | Canner Medium —

(pound) res “ue 38 0505 815-1025 | 5.50- 8.25

7.50SHEEP 1180) | Lambs l'CGiood and choice Medium and good {Common

$ R00 7.00 550

Mexico (peso) 50 75 75

Fwues (wooled)

1 Good and choic [Common and medi

CHICAGO. L Iv EST OCK

Hogs—Receipts, 13,000, market dragegy; few earl: DS —~ 10@15¢c lower; late trade generally 15@25¢c off; top. $6.40. bulk good and choice 180-240 lbs. [email protected] 240-270 1bs. largely [email protected], most 270300 Ths $5.50@ 590, some 300-330 Tbs [email protected], good packing sows, 330 Ibs down. $5@ 5.25. most 360-500 lhs., [email protected] | Cattle—Receipts, 5500. calves, 1000, Very dull fat cattle trade generally teady to weak with demand extreme narrow on

both local and outside accounts: small re- and $28,167,000 to meet the reduced | ceipts only stimulating factor and this

< without much. DHect in putting life in rate ‘on commissioner loans, made |

|trade: intense heat wave principal bearish | through the farm mortgage corporinfluence; dressed bet market dull and ation sluggish locally and East: largely steex > run: mostly $8 50110. 50; few loads ele ahoce $11: 1 load round $11.50; best earl $10.8; bulk crop un: ola, native and out h{west packers, [email protected] these Weak lo Jioner: best fed $10.60 vel

I'00D PRICES

Peaches Celery 5 Tomatoes5c 81 25. tomatoes, Inb. baskets. 25@30c. Spinach50¢ ‘Cauliflower-—Was ington 2 ‘arrots—California ‘nia crates Ih. sacks

2 5) 1.50-

‘AGO, July 2 Albertac

rates

an hi an s3e€ slow

Jigs

$2 50 Tlli-

NEW AGENT APPOINTED Frank S. White has been appointed an Indianapolis representative of the Lincoln National Life Insurance Co. of Ft. Wayne, Ind., L.! general agent for the here, announced today.

CONSIDER PURCHASE OF 16 LOCOMOTIVE

NEW YORK, July 30 (U. P.. Officials of the Union Pacific Railroad are considering purchase of 16 locomotives of the 4-6-6-4 type, i was learned today. * Tt also was disclosed that the Baldwin Locomotive Works has re-| ceived from the Alaska Railroad an for one 4-6-2 type locomotive

company

8 4 fen rs and hors

loads, $107 10.40, steady. grassy fed kinds dull at $8.50 down $5.50 | COWS scarce, steady: bulls 10@15¢ lower at | $6.50 down vealers weak at $979.50; very few selects, $10; stocker trade dull, Sheep Receipts, 2000: late Monday spring lambs 25@35¢ lower: vearlings 50c lower: fat sheep and feeding lambs weak 25¢ lower; few sorted Rive springers, bulk westerns, $878.3 vearlings, $7¢ 25 best held over native ewes $3 down: 2 doubles western feeding lambs $8 258.35; today's rade spring lambs and yearlings, 10% 15¢ Jones: 4 doubles Idaho springers stra $8.25. most sales small bunches ight sorted native. $8@ 8.15; better sorted kinds order held above $8.25: 2 doubles medium weight and an order for one 2-8-2 type

(daar Tings, $6.50; bulk fat native ewes. vom the Sao Paulo-Parana Rail road of Brazil Pullman-Standard Car turmg Co, has received an order from the Touisville & Nashville Railroad for 25 %0-ton covered 400 slow CEMent hopper cars and one from 625-1h. dry fed heifers attractive- | the Newburgh & South Shore for

ness, £9.75: mixed steers and heifers, $9.50 3 4 . Roh: i She Te as Can 5046.50 60 T5-ton ore cars cutters, $4 254 canners, $37a4, good chaice vealers. $8.50 90 Sheep Receipts 2000 lambs, $7.50@8 common grades, $5@”

2 doubles unharvested crops, lost and scattered families and stagnant finance, commerce and industry in manv areas. although the Cabinet is making every effort to speed resumption of work and business The authorities managed to re-| store railway traffic on reduced! schedules, but they are chiefly fen passengers who are able to obtain official permission Telephone service stored in the ‘German-occupied zone, but it is still difficult te ob-| tain long-distance communications in the French zone. The mail service is being re-estab-lished slowly, but a letter takes four to five times the normal period to! reach its destination. There are still 10,000,000 accumulated letters

. 3 1 rE MY “WW OTHER LIVESTOCK CINCINNATI, July 30 (11, P.) Hog: Receipts, 3200. holdovers, 240. top, $6.85 160-180 Ihs= $6 70 100-140 lbs £3.00% 165. packing ws, [email protected] Cattle-—Receipts, 500

has been re- a Ives

lacking

io se So” - COFFEE MAY BE RATIONED NEW YORK, July 30 (U. P). Britain soon may introduce rationpr) — ing of ‘coffee; according to a ‘cable | jos. received from London by the New | York Coffee and Sugar Exchange.

Good and

spring medium

FT. WAYNE, Ind Hogs—15m@25 cents $6.20; 200-220 $6; 160-180 Ibs. 260-280 1bs., $5 75; {300-325 1bs., $5.45 400 Ibs, $5.25: 150-160 1lbs., $5; Ibs., $4.75 130-140 1bs,, $4.50. Ibs., $4.25. 100-120 1bs.. $4. Roughs, $4. 50;

(0 240

30 220k 3 0: 280-3 " ’ : 25. he | Unofficial ‘estimates state ‘this 0-160 bs. summer's wheat harvest may pro- | vide only 50 per cent of France's | requirements as a result of the |labor shortage. A 50 per cent ‘de- | ficit in | t sugar beet production also | WASHINGTON. is feared. Prospects point to a hard ernment expenses | Sard . rd ‘ tis current fiscal year through | Winter with ‘continued food ration- pared With a year Rago: ing. This Yer Sind . “ " ..$760,975.694. A virtual moratorium ‘on private 290.704 654 76 debt continues due to the scarcity | 470.181,040.07 CEE 4 . 458.660.440.07 (of money. Creditors have suspended 5 946. 970.485.31 collections. 1,516.559,196.79 Property damage resulting from Gold Res war is estimated unofficially at Customs 100,000.000.000 francs which the peo-

43.721 870,190.11 |ple will have to pay through heavy to ‘come,

| }

$8.2

0 (U receipts July

Last Year $753.577,445. 76 273,270,009 .96 480 807.435 80 480.173,185.80 2,632,157,231.51 1,946.654,791.78 40.654.313.388.59 16,233 361,738.48 23,415,016.11

P.) for 27.

July and

LIMITED TIME ONLY!

DRESSES, SUITS, COATS

DRY CLEANED LO eo

Chon & Carry a t add \ white far. AAD AA itiona a Ontre i

“OCCIDENTAL we 2628

Expenses . Receipts ... Gross Def. Net Def. Cash Bal. | Work, Bal. . | Pub, Debt. | 20.442/624 237.28 22, 32, 853.87

YNDIANATOLIS | CLEARING wou

Hes Di Shick VEG Se waouan Sor yells te

.... JUNE BUTTER OUTPUT

203,800.,- |

the report in- |

onl Of 1940 - to 928,120,000 pounds, Hoe 50 largest for any corresponding period |

June extended | the reduced interest

meet reductions on land bank loans |

Manufaec- |

ON THE RADIO

TONIGHT

6:00—Missing Heirs, WFBM. 6:30—Information Please, WLS, 7:00—We, the People, WFBM., 8:00—Tommy Dorsey, WIRE,

For those who'd like to gain even | |30 seconds more dozing these hot | | mornings, Auburn Taylor of | Charlestown, W. Va. has a new in-| |vention. For a more bountiful life | ‘he has invented a pants putter-/ oner. He'll tell about it at 7, CBS= WFBM, on We, the People. “Katie,” the seeing-eye dog with a college diploma, also will be there as will six youngsters who went camping on a roof-top in sultry New York (it's hot there too). | Stubblefield of New York, who claims his father invented wireless telephone years before radio brought fame to Marconi.

”

John Gunther, foreign correspondent and NBC news commentator, and Alva Johnston, magazine writer,

” ”

| |

|face the weekly barrage of listeners’ |

questions on Information Please, 6: 30, NBC-WLS, as guests. Familiar | | voices again will be Franklin P. | Adams, John Kieran and M. C.

| ments, caused d by station changes after ‘re

INDIAN pros WEBM CBS NET i

Melodic Strings Michael Loring Jovee Jordan __ World Today

Carol “Marsh Freddie Miller Syncopators __ News

" un un

The Court of Missing Heirs, 6,

INDIANAPOL WIRE 3% «N BC-MB

FE Leighton Noble

4:15 4:30 5.5 15

3: Wr 3:15 5:30 5: 15

Home kdltion Geo. Sterney

Dessa Rvra John Jeffery Dick Reed fo Inside Sports "Missing [Heirs Lud, Gluskin

| l | Johnny v | |

Horace Heidt

and Bernard |

Seminary Singers

Presents

$25,000 and no will. Another un-

| claimed estate of $13,000 also will be | testated in the radio court.

Lucy Monroe, soprano opera star, (will be guest soloist on Musical | Americana, 7, NBC-WENR, and Barry Wood will be singing guest master of ceremonies. “Mardi Gras” By Ferde Grofe, will be the piece de |resistance for Raymond Paige and his orchestra. During the program, Boston's 19-year-old Station WBZ will be saluted on the occasion of installation of a new 50,000 watt, air-cooled transmitter,

» »

n ”

Ray Bloch will make his debut as music director of Johnny Presen:=, 6, NBC-WIRE. Newcomer E. Llovd Sheldon, former newspaperman and | Hollywood script writer, will take {over “The Story Comes to Life,’ (with an adaptation of John Galsworthy’s “The First and the Last.”

» »

{ » |

n A new three-a-week, "I'll Never Forget” will take the air at 11 a. m tomorrow, MBS-WGN., . A team lof four women and a team of four ‘men from the Jacob Ruppert brewery in New York will compete on {the Battle of the Sexes, 7, NBC- | WIRE. . How the altar path can be altered to a war path will be re{lated in the sad story of Walter | Buckley on Uncle Walter's Dog | House, 7:30, NBC-WIRE.

un »

THIS EVENING

(The Indianapolis Times Is not responsible for inaccuracles in program announces

ss time. )

CINCINNAY ™ WLW oe (NBC-MBS)

Cotton Queen

CHICAGO WL SerERR 0 (NBC N

Rocky Gordon Malcolm Claire Ireene Wicker Bud Barton

Tom Davis Lowelh 'homas Kentucky Week Raker & Denton Don Winslow HV Kaltenborn

Johnny Presents

Easy Aces Fost Persons News

Army Education

Roy, Shields

Information, Please Horace Heidt

= = =

We, the Peovle Prof. Quine

a)stedald ! SAID 3%

- >

Meredith Wills

Glenn Miller

ime __ Singing Con

Amos and Andy fanny Ros Second Husband

sd - NS

Doghouse

News Basehall Ted Lewis

| cove xxx

'- >

Lang Thom nson

Tack Chapman Baseball __ Ray Herbeek

Sonny James

Outside Lookin Leonard Keller

Xavier Cugar ¥s id Gus Arnheim

Battle of Sexes Tommy Dorsey

Plea sure Time

Musio You W ant |

Musical Amer. Batlle of Sexes News Meredith Willson Dick Sisne » n

T. R. Yharra win Rradley ., Le Capitaine” Dog House

Tommy Dorsey

"Pleasure Time Paul Jones This Is The Fair Gen, Disque ————— Peter Grant Community Chest Gardner Penedict Stuff Smith

Hal Kemp

10 o'Clock Final

” ”

Abe Lyman z In Musto You Want Hal Kemp

J. Lunceiord Monn River

WEDNESDAY PROGRAMS

INDIANAPOLIS WEFBM 1230 (NBC | Net.)

6:30 Early Birls 15

————

Dawn Pat ro) Market F Report

Patrol

Basonolorv News

Dawn

alededar !

Kitty Kelly Myrt & Marre Hilltop House __ Stepmother

Short! Story

Midstream

David Harum Road of Life Against Storm

er Jenny” yo Stories

Kate Smi Smith Girl Marries Song Shop __ Kitty Keene T Mry, Farrell Farm Circle 11:42 ¥ ee Farm Hour 3 Ne J lone Markets, Ne H

Fletcher Wiley Ny Son &

Linda's Love

Song | Salute

Singin’ Sah

Woman of Conrage Bill Frankie Masters

Dick Reed

INDIANAPOL WIRE 1100 (NBC-MBS)

Man | Married Ellen Randolph

Kathleen Norris Guilding Light

Editor's Daughter Homemakers Hour Community Halt

weather

INDIANAPOL 1s vc INC INNATL WIBC 1050 (NBC-MBS) WLW 700 Clem & Maggie Boone County

Time to Shine News

Devotional 8 Symphony

Breakfast Jam

”n ”»

Lone Journey Portia Blake

Man 1 Married Midstream Fllen Randolinh Kathleen Norris

” "» News Bright Spot Mav Robson Devotional

Memory Lane Music Magie Richard Liebert Home Folks

Linda's love Road’ ot Life Against Storm Guilding Light - ot Woman in White O'Neills

Goldbergs iditor’s Daughter ———

Noondav Rhythms Hapniness Jones Julia Blake Parade of Bands Farm Hour Bov Greets Girl

Ranch Bovs Licht of ‘World Novatime Grimm's Daughter Sunshine Melodies Valiant Ladv Jetty Crocker

Friendly, House

C astletime

Tn 1:15 1:30 1 15 2:00 2:18

an 3: 18 “3:00 3:15

Society ( Girl Minstrel Men News Wheeler Mission

~ Lectu re » Wall Melody Matinee

Ray Bloch

Kathleen Norris Bevond Valleys Pop Concert

3:30 3:45 Scattergood

Ee Waltz Time

Mary Marlin Ma Perkins Penper Young Vie | & Sade

Stella Dallas Lorenzo Vones Widder Brown

Girl Ale Reautifnl “Lire Your Treat O’Neills

Hugh Mon aco

| | | |

Jovee Jordan

Rome Editi World Todav por

| | | U. S. Reports

:30 4:15

(mausiy Holds |

| NEW YORK, July 30 (U. P).— Corporate earnings reports of the past wee have revealed two significant items, ramely: (1) That business operated at a fairly profitable rate during the first six months this year; and (2) that executives are uncertain regarding the outlook and that although they are publicly going on record as hoping for the best, many of them fear the worst. The fears of these executives, it {1s indicated, revolve largely around the war and the effect that the excess profits tax may have on earnlings. Many companies with foreign | | branches, have or are preparing to, | set up special accounts to make | | possible the writing off of all their | | foreign assets, if necessary, without | impairing their working capital.

Withhold Profits for Taxes

In addition, most companies which have reported thus far have

withheld a larger portion of earn- | __|ings from stockholders than in the

| past because of the indications that additional taxes, which probably will |

ijt be retroactive to profits recorded | compiled for United Press

earlier this year, will be enacted by Congress before the turn of 1941. Thus, the two biggest worries of industry are the same as those of the stock market trader. That is as it should be because the stock {market is supposed to reflect the business outlook. As vet there is ne indication as to how long the war may last, or | the possihle losses which American | industry will suffer because of the | conflict, either through destruetion or seizure of foregin branches |'or through loss of trade. Wall Street has been expecting | {a ‘German blitzkrieg against Britain | [ever since the capitaulation of | France. Severa' weeks ago the | |general feeling in the Street was | [that Britain could not last more |

RITES GUARANTEED

WATCH REPAIRING

DONE AT OUR USUAL

LOW PRICES

Co and SAVE!

Backstage | Wife

industrial |

Musicale Harlin Bros, Capitol City

Mary | Marlin Ma Perkins Penner Youne Vie & Sade

Rackstace Wife Stella Dallas Painted Dreams Kitty Keene

Houseboat Hannah Beaute Life Miss Julia Elizabeth Bemis

Follies

Kirby Lowell

Piano Monds Revenue Act Concert Hour

Buy, Indpls, Request Time

A round Town

& White Thomas

KEY NETWORK STATIONS (Subject to Change): | MUTUAL—WOR, 710; WHK, 1390; WHKC, 640; CKLW, 1030: Previous to the recent heat wave, NBC-BLUE=WJZ, 760; WOWO, 1160; WLS-WENR, 870; KWK, 1350. | July production showed a tendency | NBC-RED—WEAF, 660; WTAM, 1070; WWJ, 920; WMAQ, 670.

19.09 to continue the increase, the report | CBS—WABC. 860: WIR. 750: WHAS. 820; KMOX. 1090; WBBM, 730. hot weather was re- |

WSM, 850.

Back Part

Of Profits for 'Cushion'

than a month of the Nazi war machine. Now, however, an increasing number of tracers believe that Britain may hold out and that if the war goes over the winter that the Empire will stand a good chance of emerging victorious. If that belief spreads sufficiently the market stalemate may well be broken before that theory is actually tested.

Informed quarters do not believe that there will be any final action on the excess profits tax bill be- | fore September. Congress is ex= | pected to consume the whole month | of August in studying the bill. Thus [there is the possibility that business will not know for some five | more weeks what it may have to give up in the way of taxes.

DAILY PRICE INDEX

NEW YORK, July 30 (U. P.).— Dun & Bradstreet's daily weighted price index of 30 basic cominodities, (1930-

against the might

32 average equals 100): Yesterday Week ago Month ago Year ago 1950 High 1940 Low

29)

(Jan, July

ll THIER Hutnal

» FIRE — CASUALTY AUTOMOBILE INLAND MARINE INSURANCE at

substantial savings

Ha. 3000