Indianapolis Times, Indianapolis, Marion County, 4 February 1941 — Page 19

BUSINESS

Educators Outline Plan for Checking Inflation in U.

By ROGER BUDROW

INFLATION USUALLY ACCOMPANIES WAR and the threat of inflation in this country is worrying a good many persons. The situation is just ripe for some sort of inflation in U. S. unless controls are applied to prevent it. One of the most comprehensive programs advocated to check inflation is that of the Economists’ National Committee on Monetary Policy, a group of about 50 professors of economics in the nation’s leading universities.

The steps they advocate are: #1, While adequately meeting the need for defense expenditures, the Government should cut ordinary expenditures to the bone and ‘pumppriming’ should be discontinued. “2. The Government should plan to meet a large and in- # i: creasing proporRoger Budrow tion of its ex=penditures out of taxation. “3. It should borrow what it is compelled to do, make the terms such as to cause the debt to be paid for out of current income and go increasingly into the strongboxes of private investors, especially of the people of small and moderate means, rather than into the banks where it is much more likely to be eniployed as a basis for inflation. “4, The President should refrain from using dangerous inflationary powers which Congress has placed in his hands, or, better, still, Congress should repeal such existing legislation. “5. The present limit on the power of the Board of Governors cf the Federal Reserve System to increase the legal reserve requirements for member banks should be removed. “6. Convertibility of our money into gold on demand should be restored and gold coin should again be minted and put into circulation.” 8 8 2 BEEN KEEPING up on what's happening in nylon? Du Pont reports 35 million pairs of women’s stockings were made from it last year; annual output was at a rate of 68 million pairs at the end of 1940; nylon is being used also for men’s socks, sewing thread, fishing lines, surgical sutures, racquet strings, fishing leaders and bristles for brushes. Du Pont cut its prices about 4 per cent (but some retail prices have gone up.) A new plant is operating at Seaford, Del, and another is being built. own

RAILROAD securities are becoming popular with investors, according to the Financial World, because the railroads made good gains last year and prospects this year are for high traffic volume, longer hauls, larger revenues per car and relative freedom from new taxes. " " 2

ODDS AND ENDS: The Netherlands Government has suspended payment of interest and redemption on its natienal debt to keep Germany from getting the money. . . Illinois Central says there are about 3000 crossties for each mile of railroad track. . Japan is buying three million barrels of oil products, chiefly aviation gasoline, a month from the U. S,, according to the New York Times, a million more monthly than she used last year. . .. Does history repeat? “British liquida~ tion of American securities depressed the stock market prices, despite continued expansion of domestic industry, growth of America’s trade with the rest of the world and the success of the British arms in Mesopotamia.” . . . So commented Financial Age, not last week, but 25 years ago. . A storage tank one mile square and 1.4 miles high would hold all the oil the world has ever produced up to the end of 1939, according to J. Howard Pew, Sun Oil Co. president.

DAILY PRICE INDEX

NEW YORK, Feb. 4 (U. P.).—Dun & Bradstreet’s caily weighted price index of 30 basic commodities, compiled for United Press (1930-32 average equals 100): ¥esteiday .................. Week 280 ....ovsvvetsrscnnves Month ago .......ceenevnen Year ago “rvuen 1941. High (Jan. 9)....c.éues 1941 Low (Jan. 29)..

GUARANTEED

([[ rh 140d

7 ain Dealers Intual’

FIRE—CASUALTY FN TR ge). Yo) 1IN INLAND MARINE INSURANCE

for Careful Property Owners at Substantial Savings

Wa. 2456

123.43 123.72 124.24 119.02 125.21 123.39

ese edo

LOAN FIRM HERE NETS $1,001,396

Commonwealth Co. Profits Increase $206,072 Over 1939.

firm with headquarters in Indien-

of $206,072. ~

President R. C. Aufderheide reported to stockholders that $26,-

whom 34,799 were new borrowers.

36 cities in Indiana, Illinois, Iowa, Kentucky, Michigan, Minnesota, Missouri and Ohio. War abroad and the defense program “have not materially affected” the firm’s operations, Mr.’Aufderheide said, but increasing employment this year is expected to benefit the company. The Indiana corporation reported | &

$13,246,021.13 is in installment notes receivable.

STATE ENGINEERS

Late developments in supercharging Diesel engines will be discussed at the meeting of the Indiana section, Society of Automotive Engineess, at Hotel Antlers Feb, 14, 2 Raper on the subject will be read by H. L, Knudsen, chief engineer at Cummins Engine Co., Columbus, Ind. Earl C. Booth, chief engineer of Noblitt-Sparks Industries, is chairman of the meeting. The dinner will be at 6:45, followed by election of a nominating committee. The meeting at which Mr. Knudsen will speak will be open to all automotive men and industrialists and will be followed by a discussion.

WOOL ASSOCIATION

Commonwealth Loan Co., lending 4 apolis, today reported a net profit A

of $1,001,356 during 1940, compared Am with $795,284 in 1939, an increase A

414,615 in loans were made during] the year to 150,394 borrowers ofl;

The firm operates 57 /offices in B

its assets at $14,548,840.31 of which |g

Cub-Am 8

TO HEAR KNUDSEN *

100

1932 1933

Net High Low Last Change

39% § | Alcan Tha Stl. ate sa 31% Allied Chem ...150% 150% hal 32 ank Car&F pf.. Colortype..

"3% Ye A

1 61% 8% 78 13% 81Ys 17% 13% 64

Atl Refining a

Bald Loco Che

Bucy rus-Erie Byers pf

Can Jacific ... gajerpiilar TT ..

Crucible St .... 3 UZ oe

e & Co ... 20 20 Dixie-Vortex A. 36% 36% = E— East Air Lines . 25% Elec Mus Ind Ya Eng PS 5pf .. 66_ Evans Prod .... 63% a

25% Ya 66 63% Flintkote ..e...

Gen i 6% Gen fects e.. : 32% Gen 3578 Gen Tos 3 16 Gen Motor 425% Gen Motors o ths Goodrich 127% Goodyear 3k North pf.. ulf Mo & Oh,

Herc Pdr pf..

126% 126% Houston Oil ... 3% 3%

—T—

Insshs cts Md.. 6Y 6% Int Nickel 24 24

eo 32%

—— Ne

Kennecott ... 32%

Lehm

id + + &

TO MEET MONDAY

The Indiana Wool Growers Association will hold its. annual meeting Monday at Hotel Lincoln to review itse 1940 work, elect directors] and discuss plans for this year. J. H. Lemmon of South Dakota, | president of the National Wool Marketing Corp., and C. B. Denman, prominent farm organization worker, are expected to attend,

Rough Notes Co. Buys Building

1142 N. Meridian St. has been sold for cash by the Western and Southern Life Insurance Co. of Cin-

dianapolis insurance publishing and printing company. The Rough Notes Co. will occupy the building, after remodeling, in June. The firm is located in the Waulsin n building at presen at present.

CORN, WHEAT SELL HIGHER AT GHIGAGO

CHICAGO, Feb. 4 (U. P.) —Scat~ tered local and commission house demand which-disclosed a paucity of offerings, lifted prices for wheat on the Board of Trade about 3% cent a bushel today. Trade, however, continued small in volurne. Corn exhibited independent firmness, scoring gains of 3 cents at the best. Other grains ruled moderately

id | higher.

At the end of the first hour, wheat was up % to zc; May 8l%c. Corn was up % to %c; oats unchanged to up %c; rye up % to %c, and soy beans up % to %c. Overnight news was colorless with interest in the wheat market light, but prices ruled a shade higher at

"|the opening. The initial upturn,

however, failed to attract any important selling and with the assistance of the advance in corn the market extended earlier gains.later. — eee eee

CHICAGO LIVESTOCK

—Recéipts, 15, 000; market ° someFoes : op but most! 1 :

x ‘averages, generally & SOWS 5 lbs. T450- 550". lbs. kind, generally Tat 30.

Cattle—Receipts, 6000; calves, 1000; fed steers and yearlings steady but very slow and largely peddling basis with meager receipts main supporting factor in face o lower undertone; few loads choice and prime offerings went to big packers buying very slowly in shipper accqunt and working cautiously on medium to average pod grade wanted on local account; mas $9.75@13 trade; few loads to local large ¥. 22 Toe jiog@1Ls 75; oh ifpers k a few loads at $13.25 14 for weighty a ald. ‘as Monday and also phying b. long yearling; other enerally steady and scarce; 5.85 down; heavy Sausage bulls up to $8: choice Oealers telling up to 14: medium to good vealers, 25¢ or more and better; moderately broed ge mand; wel hty feeder Steers at $10.25 fat to

owe,

order buyers;

Sheep—Receipts, 5000; late 1 BL ay: lambs mostly 25c¢ lower; sheep weak 25¢ off; top $10.35 on about two loads 93- Sor 1bs. fed wooled lambs; bulk good to choecie fed Western 100 lbs. down, $10.25; weights above 100 lbs. and some Iackin fnieh, [email protected]; Hest, gwes, $5.85; today’ idding, mostly So low on ood to choice fed igher or above, $ 5 and slightly above.

McKes &

cinnati to the Rough Notes Co., In-|;

££

Loft, os Loose-W Bs 5pf. 10845 Lou & Nash ...

14 ++]

RH Sree Mast

. 25V8 Mid 43 Martin (Glenn) . 26% Martin Parry .. 9% | McCall Corp 13 Rob. 32

. .

Trdt : : a 3

STOCKS FIRMER BUT

NEW YORK, Feb. 4 (U. P).— Stocks were firmer today but trading dwindled, indicating that the slight recovery was largely. techni-

The four-story brick building at cal

Changes in the main list were small, swings exceeding a point being limited to a few ‘high-priced issues. U. S. Steel and Bethlehem steadied on gains of around 2 point. Chrysler had a smaller gain and

terday’s final. International Nickel and United States Aircraft were firm on gains of % point each. Du Pont replaced an early 1 point gain with ?2 point loss and Eastman Kodak slipped off a point. Air line shares were mixed. Coppers, aircrafts, rubbers, shipping issues, amusements, oils and electrical equipment shares were firm. Rails improved after early sluggishness, with Santa Fe gaining 12 point to 213%. Utilities were steady. Traders continued to focus attention on the intarnational situation and the question of rising taxes. Several corporate reports issued today showed the adverse effects of the latter.

COOPER, SECRETARY CLUBS MEET HERE

Approximately 150 members of the Cooper Club of the Farmers Mutual Liability Insurance Co, and

Mutual Insurance Co. met for their annual one-day joint meeting at the Claypool Hotel today. Principal business awarding of silver trophy for the highest production of the Secretary Club. Honor awards to the qualifying of both clubs also were pre-

top, io sented.

OTHER LIVESTOCK

CINCINNATI, Feb. 4 (U. P.).—Hogs— Salable, 2100; total, 2425; holdovers, #50; early sales 200-250-1b. butchers, 5c higher t 3 40; Inter bid 25s bo ad on some yale and on others; 250- 300 fa Ni 5@1 bo; #3 60- %00 1bs., $8@ 320: 3 -140 1bs., $6@6. 50; packing sows,

Cattle—Salable, 500; total, 525; calves 250; few lots medium heifers, $9@10; load

gi Jeers, $9.85 down ti mon steers and heifers ava jagle $6. 50@ ass; cutter cows mostly $5.50 Shee; ; - Slaughter lambs “trade. 45 Fh PR nsinal basis; price steady to weak; good and choice lambs, $10. “35 @10. 75 and a littel above; slaughter ewes in narrow demand, medium and Se grades salho $2.50@ Q 3 - : P.). —

bs. $7. 15: 1bs. EET , $850; Tao igo 5. - S., . ’ Calves, $13.50. mba Be. U) a 3; stags s

U. S. STATEMENT

Oldest Loan Brokers in the State

LOANS

The CHICAG

146 E. WASHINGTON ST.

on on Everything

Diamonds, Watches, Autos, Cameras, Clothing, Shotguns, tc. JEWELRY CO, Inc.

WASHINGTON, g Tob: 4 (UT SuErent foamy year thooums Ris. § C : pared with a Year rT Fue :

Year Expenses. ts.

1934

iy | Week ago ..

4 Pas Am Fish ..

TRADING DWINDLES |: : **

General Motors held around yes-|.:

Secretary Club of the Indiana|g

today was N

S—| Butter | 31%2¢; Dattertat: No

) —GoyV: recei] " yo the

1935 1936 1937

DOW-JONES STOCK AVERAGES 30 INDUSTRIALS Yesterday ....eesevsssa, cons 122.67 Week B80 'cccevsnssaseeesa.s 128.60 Month ago ..... tsesernas Year aga High, 1941, 133.59; low, 122.67. High, 1940, 152.80; low, 111.84. 20 RAILROADS $ | Yesterday Ssesaness

Week ago .. Month ago .

Year ago High, 1941, High, 1940,

-0.61 -0.43 +0.19 +0.93

271.94 29.48 28.39

29.73; low, 27.94. 32.67; low, 22.14.

Yesterday

Month ago ...... Year ago High, 1 High, 19

, 20.65; low, 19.53. ,.26.45; low, 18.03.

Net Last Change 13% — + "1 -%

High

Mident Pet .... Minn Hny

63% Newpt News sh 22% N Y Central .

No Pacific .... 6% Ohio Oil ...... 6% 67% Otis Elev 18% 16V4 Owens Ill Glass $i 52 ne P 8Y4 G & El .. 27% Dako : Paramt Pict .. Penn R R Per ciq pr

Phillips "Pet... Procter & G .. Pub Serv ......

8Y4 27% 3

Ill Sane

1 8% h i enley Dist.. Seabd Oil 3s

Sears Buide: . Tila Simmons 18,

Re Spring ...

9% Va

Sc £ S S Socony Vacuum 8%; South Pac 3; South Ry Sperry Corp ... Spiegel In . Std O § £ £

td Su Ind . td Oil NJ .. Stew War

37% 35Y, 29 2935 14%

Texas Corp .... 37% x G Sul 33% 9

+++ HHH FFF

93s Trans West Air Tait ee « 10% 80%

Union B&P ... Un Pacific ..... Un Air Lnies .. United Corp fe United Cp pf.. Un Eng _ Fdy... Un Gas Imp .. Un M & Mf

103s 80%, 13

tk 4 4)

Warmer E Br 2s P. 16% y White ss. Bent 1 3 4p Un Willys Overtad 3% : 18% Woolworth . 317% 31% Worthington .. 19% 19%; Ve

Yellow Tr oe... 13% 13% En

Zonite 2

LOCAL ISSUES

The following ductations by the Indian-

cece

Aponis IF BS Stork Bid Ask gents 1pajcs Cor “ 1 Belt RR & Stk Yds com... 542 59

Hook Dru, Home T&

Ind & Ind Gen Ry hove Gos § n ydro Tec 7 Indpls P&L com % va.

2 16% 112

Van Camp Milk fd came une “so 68 Van Camp gif ot see Bonds American Loan 5s 51.......... American Loan 5s 46 Consold. Fin. 55 50... Crone Shizens. Ing elt 4Y,s 61. 1 ne 52s... Crabs Revholds-Taslo ls: Home T&T Ft Wa) Indpls P&L 3%s 70 Indpls Railway Inc 5s 87 Indpls Water Co 3%s okomo Water Works 8. 58.. Kuhner Packing Co 42s 49..100 Morris 5&10 Stores 5s 50 .++.100 Mundie Water Works 5

Pub Tel Co 4 55 Richmond Water Wks 5s 57.. Trac Term Corp 5s 57 *Ex-dividend.

FOOD PRICES

CHICAGO, Feb. 4 (U. P.). Michigan Jonathans, bu., $1. 25@1. Aprie Cor ery—Michigan, squares, 40c@ @$1. Tomatoes —Mexican, Juss. 1 $2.

Tennessee, bu., Ss ints Yefoms bool Yellows, sconsin Yellows, 60 75c; Michigan Yellows, 65@90 9

LOCAL PRODUCE

Heavy hens, 12¢; bareback hens, llc; Leghorn hens, 8c; bareback Leghorn hens, Barred and White Rock dther colored heavy springers, 12c; Leghorn Springers. ie, bareback springers, 9c; old rooster C, indiana re A large eggs, 17c; Indiana Grade A medium eggs, 15¢; Indiana small Grade A and No 2 = 2 12¢; no Srade, 13c. —No. No. 31@

2 No. 2, 27c. (Country pickup brices a? ‘by the

. 1938

Building in Indiana during 1940 increased approximately 4 per cent over 1939 in the 44 cities reporting to Indiana University’s Business Research Bureau.

N. Y. STOCKS

By UNITED PRESS

**s; | son;

®| for electric lanterns;

1939 "1940

STATE DEFENSE AWARDS GROW

$73,885,807 Is Spent in Indiana During First Half of January.

Army and Navy contracts and spending in Indiana during the first 15 days of January amounted to $73,885,807, according to Louis Hutchinson, acting state director for the Office of Government Reports: Since July 1 Indiana has been awarded $319,995,040 in defense contracts. The WPA has $1,587,825 in defense projects in addition to this and the Office of Education has allocated Indiana $419,302 for defense training. $23,000,000 was allocated E. I.

. du Pont de Nemours & Co. to en-

large smokeless powder-making facilities at Charlestown; Studebaker Corp. at South Bend received

ola $33,657,580 contract for airplane

engines, and Goodyear Engineering Corp. of Akron, O., received two contracts totaling $13,899,541 , for equipping and operating a bag loading plant at the Charlestown powder works. Leslie Colvin of Indianapolis received a $1,596,300 contract to build the 1000-bed hospital at Ft. HarriBendix Aviation Corp. at South Bend received a $168,266 order for airplane maintenance parts; International Harvester Co, Indianapolis, $15,000 for trucks; and Maxon Construction Co. of Dayton, O., $2,500,000 for building

Other contracts included James A. Gorsuch Jr. Jeffersonville, $70,000 for 25,000 grates for tent stoves; Jeffersonville Quarter Master Depot, $1530 for 600 pack mantas covers; Jeffersonville Depot factory, $134,081 for 51,769 halters, $14,-

‘y,|265 for 4500 cavalry pack cooking

outfits, and $2592 for 900 mountain artillery cooking outfits. Delta Electric Co., Marion, $6617 Holcomb & Hoke Manufacturing Co., Indianapolis, $90,000 for 37,500 tent poles; Meyers & Son Manufacturing Co.

"1,| Madison, $246,750 for 25,000 water-|Mediu + | proof bedding rolls;

Meese, Inc, Madison, $29,940 for 6000 convas

+| dispatch cases; Foley Construction

Co., Cincinnati, $14,440 for water line extensions at Jeffersonville Depot. Pearson Construction Co., Benton Harbor, Mich. $708,000 for warehouses at Jeffersonville Q. M. Depot; General Tire & Rubber Co., Wabash, $80,887 for rubber bands; McGill Manufacturing Co. Valparaiso, $1551 for automotive equipment; Wilson Brothers, South Bend, $66,528 for 72,000 khaki (percale) cotton shirts and $33,264 for 36,000 khaki cotton shirts; Anchor Supply Co., Evansville, $26,400 for 3000 small wall tents; Jay Garment Co., Portland, $22,275 for 25,000 khaki cotton (percale) shirts; Elin Manufacturing Corp., Rochester, $6765 for coveralls.

INDIANA COAL FIRM OPENING NEW MINE

Ayrshire Patoka Collieries Corp. here has formed a wholly owned subsidiary, Fairview Collieries Corp. of Delaware, to operate a new strip coal mine near Fairview in Fulton County, Illinois. Preliminary work in the area will start in a few days and actual mining of coal is expected to start about Sept. 1. Present schedules call for mining of 800,000 to one million tons annually of Fulton County fifth vein coal to be sold under the trade name of “Flamingo” by the Republic Coal & Coke Co. of Chicago. The Fairview. mine, first property

nois, will be on the Minneapolis & St. Louis Railroad and will serve markets in Chicago and northern Illinois, Wisconsin, Iowa, Missouri and. the Narthwest.

WAGON WHEAT Indianapolis grain elevators are payin for No. 1 wheat, 78c, subject to marke change; other grades on their merits. Cash corn: New No. 4 new yellow shell corn, sc: new "NO. 4 white shelled corn, 57¢c; No. 2 white oats, 32c.

SOUTH AFRICA

A Great American Market

In 1939 America was second only to Great Britain in exports to the io of South Africa. Now, like the Mother DS Se a. . for greater pmen! ve erment stores - Supplies for the gold « war mate

RETAIL MERCEANDISE

ular appeal in SOUTH AFRICAN PUBLISHERS maintain an American Bureau for the purpose of advising on their market.

JOSHUA B. POWERS, INC. 220 East 42nd St. New York City

Wadley Co.).

INDIANAPOLIS CLEARING HOUSE

. 808. : i : Customs. . 17,844.76

Clearings ....oecceocececssesces.$ 4,245,000 Debits a TT

ANIA I [RHA AL

al hidiaimapolis

that Ayrshire is operating in Illi-|

PORKER PRICES ARE UNCHANGED

Top Remains at $8.30 as 7385 Hogs Arrive at

Stockyards Here.

HOG PRICE RANGE Receipts 7,664 3,000 9,300 9,225 3.995 8,964 1,500 9,215 7,385

Jan. Jan. Jan. Jan, Jan, Jan. Feb. Feb. Feb.

Hog prices did not change at Indianapolis stockyards today, the Agricultural Marketing Service reported. The top remained at $8.30 for good and choice 220 to 230-pound-ers. Vealers were steady with a $13.50 top. The Marketing Service reported 1948 salable cattle were received, 568 calves, 7385 hogs and 1517 sheep.

28 ...... seesssasessnas 29 ..eceesctancasense. 8.30 8l .iicreccccsccicccee.. 8.40 cess 8.20 . 8.40

seccscsscssanses

HOGS

Barrows and Gilts xd to Choice— 140 ds ..

spel) S

DD WO IBID 1 BI a 2 330000000000 00 ~3 Sow Nod rt = at

3 = oa

- 200 pounds Packing Sows Good and Choice—

330 360 pounds :

G 360- 400 pounds .... 400- 450 pounds ... 450- 5% pounds .. Mediu 250- 500 pounds

Slaughter Pigs

Medium and Good— 90- 190 pounds

CATTLE Slaughter Cattle & Vealers (Receipts, 1948) Steers

Choice— 750- 900 pounds 900-1100 pounds ... 1100-1300 pounds .. 1300-1500 pounds .. Good— 750- 900 900-1100 1100-1300 1300-1500 Medium— 750-1100 pounds ..... 1100-1300 pounds Common— 750-1100

$12.75@ 14.00 oes 12. T5614.50 ee. [email protected] . 13. 00@ 14.50

. [email protected] . [email protected] «eo. [email protected] « [email protected]

[email protected] [email protected]

[email protected]

pounds . pounds . pounds ... pounds ...

Steers, Heifers Choice— 500- 750

500- 750

pounds [email protected]

J Heifers Choice— 750- 900 Good— 750- 900 pounds Medium— 500- 900 pounds

ommon— 500- 900 pounds

. [email protected] [email protected] 8.25@ 9.50 8.25

pounds ..... sess ns

the Burns City ammunition depot.|Good

Medium Cutter and common Canner

(Yearlings excluded)

8.00 .00 6.000 8.00 Feeder and Stocker Cattle Steers (Receipts, 568.) Choice— 500- 800 pounds 500-2058 pounds

G 500- 800 pounds . 800-1050 pounds

$10.00@ 10.75 [email protected]

[email protected] [email protected]

8.25@ 8.75 7.50@ 8.25

500-1000 pounds .. Common— 500- 900 pounds

Calves (steers)

Good and choice— 500 pounds down Medium— 500 pounds down

Calves (heifers)

Good and choice—

500 pounds down 9.00@1 Medium— 9.50

50C pounds down 7.50@ 9.00 SHEEP, LAMBS (Receipts, 1517)

Lambs

Good and choice gum and good on

[email protected] 8.50@ 9.75

om Yearling Wethers Good and choice Medium Ewes (wooled)

Good and choice y Common and medium

FOREIGN EXCHANGE

ganada, (dollar) prog +411 Italy (lira) Finland (markka) ... Switzerland (franc) ... Sweden

8 Vornbrock, Swift & Co.; C. J. Eiken-

2 Reid, John Morrell & Co.; Sam Har-

France Imposes Tax on Profits

VICHY, Feb. 4 (U. P.)—The Finance Ministry today published in the official journal a new law imposing drastic surplus profits taxes on all businesses. Simultaneously, it was announced that a series' of laws on foreign holdings had been drafted requiring French nationals with bonds and property abroad to declare at threemonth intervals all transactions in those assets. The surplus profits tax, the Ministry said, would be a temporary measure and will apply to earnings retroactive to Sept. 1, 1939. The tax scale ranges from 20 per cent on all profits exceeding “normal” by as much as 25 per cent, to ceeding normal by 100 per cent. an 80 per cent levy on profits ex-

PLAN TO OUTLINE MEAT CAMPAIGN

Plans for the next phase of the meat industry’s national advertising|‘ and merchandising campaign will be presented at a meeting in the American Central Life Insurance Co. building, 30 W. Fall Creek Parkway, at 8:15 p. m. tomorrow. A slide-sound film will review the first four months and next four months of the campaign. A motion picture prepared by the National Live Stock and Meat Board will be shown to dramatize problems of the consumer. I. M. Hoagland, sales manager of Armour & Co., is chairman of the program. He is assisted by H. W. berry, Wilson & Co.; Douglas T. ris, Oscar Mayer & Co.; Deardorf, Rath Packing Co.

BUSINESS FAILURES DECLINE SLIGHTLY

NEW YORK, Feb. 4 (U. P.).— Business failures in the United States in the week ended Jan. 30 declined slightly from the preceding week, when they were the highest since April 25, 1940, Dunn &-Bradstreet, Inc., reported today. Total failures for the latest week aggregated 300 compared with 307 in the previous week and 285 in the corresponding 1940 week. Insolvencies with liabilities of $5000 or more amounted to 137 against 141 in the preceding week and 137 a year ‘ago. Canadian failures totaled 24 compared with 25 in the

Eugene

| still substantial,

RISE IN PRICES

National City Bank Finds Influences Workings Against Inflation.

NEW YORK, Feb. 4 (U. P.).—The major concern of businessmen now is the danger of an inflationary price rise developing from the national defnse boom, the National City Bank of New York said today in its February bank letter. The bank warned that the threat of priorities, rising costs and upward pressure on prices will grow as defense activity increases and as normal peace-time operations give way to. war production. It emphasized, however, that several “basic influences” are at work to protect the national economy against these inflationary dangers, principally the attitude of Government and business and the present ‘sufficiency” of industrial materials and food supplies.

Unemployment Cited

In addition, the bank said, the large number of persons still unemployed “will prove to be the most effective force for countering inflationary influences that the country possess,” provided workers can be trained as rapidly as they are needed. “The fact is,” the letter noted, “that even while unemployment is a boom is under way and industrial activity in many lines is straining at capactiy. Private and public policies have to take both conditions into account. “From either view, it is plain that the empsasis belongs on increased production and ®rderly markets rather than on higher prices, and cn more work and stable living conditions rather than higher wage rates.” , “ Spending at ’18 Rate Commenting on industrial trends, the bank asserted that the entire situation is dominated by the national effort to make this country the “arsenal of democracy.” It pointed out that the huge expenditures outlined by President Roosevelt are on a par with those of 1918 and “could not be much greater if the country were at war.” “They emphasize as does the drain on Britain’s gold and dollar resources . . . , the awful cost of war, the debts that are being piled up, and the gravity of the fiscal and monetary decisions which must be

previous week and 30 a year earlier.

made.”

No. 8

The credit for dependents as tional part of a month is to be

For example, a single man

of the year would be entitled to

which is seven-twelfths of $800,

personal exemption allowable in

$2000.

Jelg-iha is, one-half of $400. ependents where a change of year.

Japan (yen Mexico Yona)

Rock pavement.

the tires

Your Federal Income Tax

Exemptions Allowed Couples Married During Taxable Year.

required to be prorated where a change of status occurs during the taxable year, and these credits are allowable not only for the purpose of computing the normal tax but also the surtax.

more than half a month, in which case it is considered a month. married on July 20, 1940, and lived together during the remainder

in a joint return for the calendar year 1940, which amount is seven-twelfths of $800 for the husband while single, plus seventwelfths of $800 for the wife while single, plus five-twelths of $2000 for the period during which they were married. If separate returns are filed, each is entitled to a personal exemption of $888.88,

$2000. If during the year 1940 the husband or the wife had the status of the head of a family prior to their marriage, he or she would be entitled to his or her pro rata share of the personal exemption of $2000 allowed the head of a family for the period prior to their marriage instead of merely that allowed a single person.

However, for the period of their marriage any exemption to which either might be entitled as the head of a family would be merged in the joint personal exemption for that period. The joint

married and living together during the entire year may not exceed

If a child under 18 years of age reaches the age of 18 years during the taxable year, the credit of $400 is required to be prorated in the same manner as the personal exemption. ample, should the child’s eighteeth birthday fall on June 30, the parent would be entitled to claim $200 credit for the dependent

well as the personal exemption is A fracdisregarded uniess it amounts to and a single woman who were

a personal exemption of $1766.67

plus one-half of five-twelfths of

td #

the case of a couple who were

For ex-

The same rule applies to other status occurs during the taxable

KENTUCKY ROCK ASPHALT YOULL KNOW THE DIFFERENCE

It's really a grand and glorious feeling when you hit Kentucky

You That

INSTITUTE

That smoothness, resilience and even the beauty of the dull, none glaring surface ‘all add to your comfort. Sandstone rock asphalt makes the most non. skid type of pavement, due to the angularity and hardness of the sand grains (silica sand). This type of sand does not polish or cause abrasion; rather, it interlocks with , Hiérefore causing little wear and promoting a safer contact, adding to your driving’ comfort and SAFETY.

Kentucky Rock Asphalt Gives

KENTUCKY ROCK ASPHALT

Extra Protection

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