Indianapolis Times, Indianapolis, Marion County, 5 February 1941 — Page 19
* creased. This would be similar to
“land farms in that instance.
. work.”
(
by! Ford; General Motors will pro-
= «@¥0-operate with several other tom-
| { : I
. schedule despite 10 days lcss be-
| | | |
|| enough farm insecticides and fungi-
|
fg shift to growing lean
AGE 17
of Expo
USINEN
American Farmers, Faced With Loss
rts, Urged to Change 100
By ROGER BUDROW ‘ONE OF THE WAR’S GREATEST CASUALTIES thus
r (in this country has been
the farmer. Many manufac-
rers have more foreign business than ever but the bottom
s |dropped out of the farm
export market. \
| |On the other hand, Americans, with pocketbooks fatning from more and better-paying jobs, are buying more arm products. This puts the farmer in a spot, the Bureau gricultural Economics says, where he'll have to change
ays. South can’t sell cotton and co abroad as it did before the
&=
| So the agricultural experts believe the South
-
should shift to raising more | milk, fruits and vegetables. i* The Great Plains and Pacific Northwest have - less demand for their wheat than in previous days so they should grow more livestock. Because of the abundance tang low prices) o iRoztr Budrow lard, the Corn meats, milk and wool which would fit in/ with the conservation program and the growing demand for food and fiber. All these shifts are designed to make up for the loss of exports by substituting products the American . public: wants from the ‘farm. Farm employment is another situation. If the industrial pick up would take up the slack, that would be fine, but other means may have to be used, the Bureau says. Some of the poor land could be abandoned, less labor and materials could be.used on the better lands and | efficiency of farm labor in-
the |New England situation when land was abandoned when the Erie Canal brought cheaper products from the West. Industrial development in nearby cities created jobs for those displaced from New Eng-
If that doesn’t happen this time, temporary assistance may be needed to farmers who shift from old crops to new. s % 8 1, NATIONAL Association of Manufacturers sent 30,000 six-page questionnaires
pacity for more defense produc‘tion. At the bottom of his ques-
tionnaire, one Georgia baseball bat |at um
‘manufacturer wrote: “We do not see that our product would be of pa ticular use in strictly defense
2 ” ” MAKING BOMBER parts will give employment to at least 107,250 men in the automobile industry, any to C. C. Carlton, director of | the Automgtive Committee for Air Defense. Parts and assemblies to/| make five Consolidate B-24 bombers a day will be undertaken
vide units for five North American 5 B-
nies in supplying assemblies for five Martin B-26 bombers a day. In addition the automobile industry has ~ eontracted to make armored tanks, machine guns, submarine engines, shells, plane motors, radio apparatus, bomb parts and Army trucks. | 8 E-4 ”
INDIANA'S FARMS have slight- good
ly less than 200 million dollars
worth of mortgages on them, ac-|g
cording to the Agriculture Department’s yearbook. The actual amount (on Jan. 1) was $198,996,000 which 1s a 1.2 per cent reduction from the $201,480,000 on Jan. 1, Indiana was below average in paying off farm mortgages which was a reduction of 2. Z per cént for [the country as a dle North and ‘South: Dakota and#Nebraska did the | best in payin. of while New Eng- | land states 4nd Mississippi in- | creased their farm debt. ~ E-4 o ”
ODDS AND ENDS: steel work on Ford's $21,000,000 airplane engine factory at River Rouge was completed four days ahead of
cause of bad weather, . Buick’s © $31,000,000 airplane plant ‘at Chicago will employ 10,000—one of the city’s seven largest employers—produce 500 motors a month, pay $17,'000, 000 a year in wages. . .. Du Pont says U. S. ‘manufacturers make
cides so loss of European imports constitutes no big difficulty. . . . Public Service Co. of Indiana stock espurted as much as $7 yesterday on rumors the SEC will soon approve the utility’s merger plans, clearing way for payment of accumulated * back dividends that now amount to . about $7,000,000. . . . One reason so many corporations’ profits this year are below last year despite record business is that - (in addition to much heavier taxes) the companies are putting aside huge funds -for contingeneies such as building new
to manufacturers : wanting to know their factory ca-|
25 bombers, while Chrysler will|S
liquid: and air-cooled air-|G
Structural | com
PA
PRIGES ON HOGS
6654 Porkers Arrive At Stockyards.
HOG PRICE RANGE Top Receipts .80 3,000 3,000 9,300 9,225 3,995 8,964 1,500 9,215
Jan. 25 cececeveccecsecenes Jan. 25 eesseisedsseesaonoe 8.60 Jan. 27 ccieecsicncosescces 8.80 Jan, 28 .. cerssesessissenece .s 8.25 Jan. 29 ..q.0. . 8.30 Jan, 31 .. . 8.40 Feb, 1 coeeacsnscnrecnscecse 8.20 Feb. 3 .. . 8.40 Feb, 4 .. . 8.30 Feb. 5 .. . 8.35
seec0escssecnctoe
6,654
teetsscesnessce
Hog prices did not clisfige- at Indianapolis today, leaving prices the same as they were Monday because steady rates prevailed yesterday also, the Agricultural Marketing Service reported. The top was $8.35 for good -and choice 220 to 230-pounders. Vealers| also were steady with a $13.50 top. The Marketing Service reported 982 salable cattle were received, 502 calves, 6654 hogs and 337 sheep.
HOGS . .
Barrows and Gills
DORNRDID | 0 3-3-30000000000-3
a S333555338
a daamEn-Ia% DID RII NIBIDDY ASOLO
2 on ® 2 3S
Medium — 160- 200 pounds Packing Sows Good and 7Oholce—
S28 885
9 92S ed
cdesessssee esbdossssnens $eoevosone
Good— 360- 400 pounds . 400- 450 pounds 450- 500 pounds
. S12) JN oo
J Sp aaa
9 ww oS
DONE oof versie Blavshter Pigs
Medium and Goo 90- 190 poun i
* CATTLE
1300-1500 00d — 750- 900 pound 900-1100 - pound 1100-1300 pound 1300-1500 pound
eee. [email protected]
fe 75
ra . Hon eesesssene [email protected] eaium— 780-1100 POUNAS sosseeee-css [email protected] 1100-1300 pounds ..... en + [email protected]
« [email protected] Steers, Heifers
pounds .ce.... eearee [email protected] [email protected]
ommon— 750-1100 Choice— 500- 750 Good— 500- 750 pounds ........s
Heifers pounds .ecscecences
sooo
Choice— . 750~ 900 11°[email protected] | [email protected] . 8.25@ 9.50
7.00@ 8.25
in pounds seecvvcene 300-00 300 ) pounds © 500- 900 ) pounds
7.00 .25
Good and choice Gommen and medium Feeder and Stocker Cattle Steers (Receipts, 502) Choice
500- 00 pounds 209-1959 pounds
500- 800 pounds 800- 1080 nounds.
Me 500- 1000 ) pounds
+319 Joao. 1s 0@10,
sescsevsecces [email protected] RPsesassennsy; 8.75¢ 10.00
8.25@ 8.75 7.50@ 8.25
980 egencas
peeves crosses
500- 900 1 pounds Usives (steers) Good and cho Se a 500 Pounds ig esses restere Mediun 500 pounds down
Calves (heifers)
Good and choice— 500 pounds down ..
esernseses [email protected] Medium— : 500 pounds down . 7.50@ 9.00 ‘SHEEP, LAMBS (Receipts, 337) Lambs
Goodr and choice [S40 an and good
[email protected] © 8.50@ 9.75
Yearling Wethers Good. and: choice Medium ’
<
Ewes (wooled)
Good and choice Common and medium
teem B®
anrdl
FOOD PRICES
YCOAGO, Feb. 5 (U. uichigan Jonathans, bu, Bl 15a1.30 ery—Michigan, squares, 40c@$1. Tomatoes —Mexican, du Ss a: . Spinach— Texas, bu., 1,40. Csulifiower — .California, 5 $i 1001. 30. WR fornia, crates, $ i355. Be Let ee (
yples— Cel-
plants. Du Pont put aside 10 million dollars from its profits. Y
$2. doa Tennessee, bu., % S5@l. e Falta abi cE Witcoman Fo Michigan ow Si Sin e low 75¢c: Indiana Yellows, 85@18 5G
Competitive Bidding Up in
Railroad 'Test Case’ Today
RICHMOND, Va. Feb. 5 (U. P.).—Ditectors of the Chesapeake &
' Ohio Railway Co. meet here today _ bids submitted by investment house $29,602,000 refunding. program.
to consider a number of competitive S and insurance firms on a proposed
If was understood that the bids to be considered include one filed by Morgan, Stanley & Co, formerly an outstanding opponent of com-
petitive bidding on corporate securi-, = ties, as well as several “private placement” offers from Insurance companies. The issue which “the 0. &. o. proposes to refund at lower interest rates consists of 3! per cent bonds, ue in 1963. Action was to have been taken at a board meeting: in Cleveland on Jan. 23, with the ise sue toyvbe underwritten by Morgan, Stanley.
The award to the Morgan com-
pany was .held up, however, when Halsey, Stuart & Co. requested permission to bid on the issue and Robert R. Young, chairman of AlTeetey ‘Corp., which: controls the C. & 0, protested against any im- . mediate ‘action. : -A committee of directors, including Mr. Young, and George D.|now Brooke, ‘president of. the C. & O., appointed
was appol Jovasiigate the):
Sale of the C. & O. issue is regarded in banking quarters as a “test case” of the question of competitive versus negotiated distribution of securities. 2 Opposition to the negotiation method has ¢ome chiefly from Mid-
western firms, headed Stuart & To. Inc., and tis ‘& Co.
Interstate: ‘Commerce . Commission enforce competitive bidding for all
has been required on | ment trust certificates since 1926. While- no decision has beer handed down by the, ICO, known tnt Jud. 8 chairman @ Jsgulatory body, is now considering the entire questicn. Today's, pn by, the .C &. O. ‘board 10. - ob=
REMAIN STEADY
$8.35 Is Top Paid Here as 2 rll
7,385 | B
Fed Wat S 3 oh Fid Phen
Foster Wheel .. «+ 12¢
+ 149 60 5.75@ 6.60| G
G Slaughter Cattle & Vealers (Receipts, 982) . Steers ,
Ho
Intst
Kresge ss
e 901240 Ibs. -49 | esr, $7.
00@ 5.00 $7.5
THE INDIANAPOLIS TIMES
City Now Has 1119 Miles of Gas Mains
i "| [IN USE ON SEPT. 9, INDIANAPOLIS |
872 MILES OF MAINS
1938
V119 MILES OF MAINS
=x
IN USE DEC. 31,
+
INDIANAPOLIS |
ee
1940
CHEYENNE, WYOMING
tance to Cheyenne, Wyoming,
Net High Low Close Change
Sie ’ EN “
© - @ on 23 7a
Jt Saas SRNR 5
- Dstt DA IAS |.) a NEE - tpt ibd Op ” » . EE .
oe Wa 3. -
A Armstrong Asso Drv Gds
ROWRRORIRDESI =O OM
at]
tchison of ... Atl C Sipe .
tlas ‘ona A a iy Bord’
mes BIN DNR RDN DWRPN OPIN WO-3
82 Bans on
ESSE)
lH+++ + HH pt +43
Balt & 0 vi... Baber Asphalt.. Beth Steel .... 82% Boeing Air ..... 16% Bone Stores ... 18
pH
Ches & "Snio of 103 Childs &
Coca Col os & Ak pf.. Colum Gas .... gon Inv Tr ... A Com Solvents .. 8 Comwlith & So. al
Cutler- -Ham ...
0
PD Lac & W ..Jl8
Dixie-Vortex
Doehler D Cast. Dow Chem .... Du Pont
East Kodak ... Elec Auto-L ...
BnThe lE q viet od
Ex-cell-o
Frito pn
Iii:
Fost-Whl pf nn Am. Tr. Cable A.; Electric . G E A
ANIA bot set 1d RD 1k i 363 HOY oT 8 ot ft ft BD pt Be 0.73 C5 id UN y NWT DWI 1 DBI HE HEHE . <i
OO UW nd WS Ge et
+H +H]
Green H +i Glf Mobile & 0
Hegker Prod .. lly Sug..... h
}2 . .
4 Cent Pi.
Ind nland Stl_..:
Rayon.
34 Interlake Ir [44 8
tM Marine Int Mining... Int Nickel ....| 2 In
DS ..ib
32 24%
Kennecott +
35
CHICAGO LIVESTOCK
tive; fully steacy; other stead roi 1 lower; to $8.20: bulk good and c oite 180wd [email protected]; most 240-270-1b. butchh5@8; 270-335-1b. 2verages generally [email protected]; gihboth 350-4 packing sows, mostly $77.35; few lighter weights 0 @
Cattle—Receip:. S. 6000; calves; 800; strictly good amt choice steers and yearlin ng without reliable order buyer or shipper outlet slow anti steady; medium grades strong to 25¢ higher on focal account: advance being pald under protest, however due mostly to starvation run; largely $9.75 @13.50 market; earlv top light steers, $14; several loads held $14.75 to $15 and better: ut most sales comprised lower grade urning at 812.60. downward: light heifers strong; weighty heifers strong to _25¢ i hel £0 offerings reaching $11; cows 1l0c to paherR ht, eit in} cutters up, lo 56; : us (stron ii vealers steady at $14 eceipts, 2000; late ays vers ow: fal lambs steady to 15¢c lower, mostly steady: top, $10.25 on several joads g0 i) oy chp 1G '¢ 88-101-1b. Wes me to £00 ~grades, $9. este: 0! 1 5a 25¢i lower for two days; fe year nes. $8. 25; four Joss) 2 ewes, $5.60 6: today’s trade; a bs opening Doe steady considering quality: lwo olads 2 st good holdover: -wooled lam 0; oad medium. to good grade, $9.75 on 2 choice fed lambs he up lo around #$10.2 three decks stimm shor fed Ba carrying practically full "pull ool pelt: $9.75,
OTHER LIVESTOCK
PT. WAXNE. Peb, 5 (UU. —Ho Se Steady to Hc lower: 210-230 Tos: 210 lbs. : 160-190 1bs., $7. 1bs., $7.95; 3250-275 1 $7.50; 00 bi ibs. ,
Ibs. $5; 35; 100% stags, $5. Catv es,
CINCINNATI, Feb. 5 (U. ott Salable. 300° totel, 3478; Doriovers. 20; i >, most steady to 5¢ bids 10¢ lower weights 250 00- -23 Jos. $7.40@
i eifers lower: several lots medium heifers | ible around $8.50@10; part load good -1b. heifers, $10.95; Yealans Hostly steady, i) and choice, $132.50 Sheep—-Receipte, trade Sueddy on slau rhter lambs; and oice, 3i0. Ne 11; part THE Clipped Iams, 82 3s; hy yall slaughter ewes quoted to $3.5
0: ear
N. Y. STOCKS
~ Bv UNITED FRESS
in a Th Glass wn
» | Pitts
Reyn Tob B ... Richfield Oil ... 2
Hogs—Receipts. ‘15,000; light weights ac- | I¢
7.50; PAA 350- 1b. kind generally $6.75 |U
15¢ =
; |.Customs..
5 and over, 19c; No. 2 broilers, 16¢c; roosters,
DOW-JONES STOCK AVERAGES
30 INDUSTRIALS Yesterday o....cce. weteu Week Ago Month AO ..ioovveeeesssass 133.02 Year AO ..icovevcncnes ese. 146.63 High, 1941, 138.59; low, 122.68. * High, 1940, 152.80; low, 111.84. 20 RAILR YADS
-—0.04 —2.60
+0.70
28.09 28.72 28.78 30.83
+0.15 —0.76 +0.39 +0.10
Yesterday Week Ago Month Ago . Year Ago High, 1941, 29.73; or 27. 94. I’gh, 1940, 32.67; low, 22.14. 15 UTILITIES g 19.66 19.94 20.08 24.79
Yesterday Week Ago ........ tretesnse Month Ago ... Year Ago High, 1941, 20.65; low, 19.53. High, 1940, 26.45; low, 18.08.
Net High Low Close Change 2% 2% 2% Ya
24%, 24 7 9-16. RU . 2 Ys
207% Ya 35 ve Ya
67s 2314 "26 26
Kroger G&B ..
24%,
07s . 35%
67s 23 7 -
20%
Libby McN&L. . Lockheed Airc. . Y, artin (Glenn) 6% Y, Masonite Corp.. 26 cKeesport cKess&Rb
ident Pet ,...
LF 444)
. . “ee
[++ +1 HHH sas 5
5! i;
No Pacific ...
Otis E
~ =
+
Pac West Oil .. Paramt Pict .. Para Pict 2 re. Parke Davis vow ‘Park Uta Pathe aim cove
aaa
=
Phelps Dodge .. Phila Read C I > 32 Phillips Pet .... 38 Pitts For ings. . Sc& Pitts Stl § pi. Procter & G
o
~~ on
THEE HH
.. nN DAS WARN
LJ TELL - TRE TION } wo wn Ly a
[+ +H+ti+::
Safeway 5 pf 1 Arms .
“sess eT re a ee al «3 th = RRR
SS
fa 0 +O oh OB
SES
Sperry Co ipiesal Tie ing i d O
CORI +A LIRI 4 [> PE: Lifter tEpdr:
£
+
x Q ~
oo se “oe oa
21 ...123
+H 1 +H45] +
S Steel Us Steel pf
Waiworth ..... B Warner Bros .. i3 Wayne Pump . W Pa EI'7 LY ut 1107
1g : 200s it 83% re 12 32
19% qr
Worthington & 00 Worthing cv ot.
Young Stl Dr
U. S. STATEMENT
WASHINGTON, Feb. 5 (U. P.).—Government expenses and receipts for the current fiscal year through Feb. 3, compared with a year sho: L at Year
This Yea Expenses.. $5. 403. 918.71 Receipts 312,301, Gross Def, 3 093,615,
»® + FEHR
o =»
ICN pt +4 ODD
W1 0 vl 13 4 0
IDR = Ibe ASS Q DR AB en a E300 Era CID i RPO Oi Oe Or OD ON-“NDADVNIO ONIDI Dt aT aT Dm ROP OI-IND
wn
194,589,054. 054.86 INDIANAPOLIS CLE. CLEARIN
o AONIANNIDD An wo
- m
SaO oe £3
LOCAL PRODUCE
Heavy hens, dc: No. 2 hens, llc; Leghorn hens, : "No. 2 Leghorn hens, 6c; Barred and nite Rock broilers, 3 Ibs.
Indiana Grade A large eggs, 17c; Indiana Grade A medium eggs, 15¢c; Indiana sma Ee A and No. eggs, 1l2c; no grade,
utter—No. 1, 33@33%a0: No. 2, 31 3th, buttertat, No. ¢ e
® | outset ,| Around 82% cents for the May de-
1Indpls P&L 3Y%s
In the past five years the Citizens Gas & Coke Utility has extended its gas mains in Marion County 28.2 per cent, according to this pictograph from the company’s magazine, “The Gas Flame.” Five years ago, when the Utilities District took over operation of the gas company, there were 872 miles of mains in
use—the distance {rom Indianapolis to Oklahoma City. Today there are 1119 miles of mains—the dis-
RISE IN STOCKS. -LED BY STEELS
.\Market Advance Regarded
Largely Technical; Rails Gain.
NEW YORK, Feb. 5 (U. P)— The stock market advanced fractions to 2 points today. Steel shares were prominent on a
rise which was considered largely
technical. Several “recent weak spots came back sharply. Douglas Aircraft rose 2 points to 70. American Telephone rose more than s point on its report showing a record number of telephones in use. Westinghouse Electric rose more than 2 points and U. S. Smelting 2 points. U. S. Steel and Bethlehem were up more than a point.’ Railroad stocks had gains ranging to a point despite estimates on car loadings indicating a less than seasonal advance for ‘last week, Utilities
% |were up slightly.
Sears Roebuck gained a point. Coppers had advances ranging to nearly a point. Chrysler rose more than a point. Oils, amusements and airline stocks were fractionally higher. Du Pont made a small gain. A block of 20,000 shares of the stock was sold in the over-the-counter
? | market after the clase yesterday.
UPTURN IN WHEAT
accumulation of overnight buying orders together with fresh buying stimulated by the ‘action: of stocks, reports of a better flour Business and reiteration by Government officials that sales of 1940 loans wheat would not be made at less than the loan value plus other charges caused
zlan extension of yesterday's late up-
turn in the wheat market on the Board of Trade today. Gains of about 5% cent a bushel
?| were registered before offerings des | veloped in sufficient volume to sat-
isfy the demand. A feature at the was the light offerings.
livery, however, the market encountered. freer offerings and prices re-)
i ceded a fraction from the best]
levels. At the end of the first hour, wheat was up % to Yc, May 82%c. Corn
s|was off 1% to 3:c; oats unchanged,
rye unchanged to up ‘Ye, and soy beans off % to.3sc.
LOCAL ISSUES
The Joliowing ghiotations by the Indiananpolis Bond & Corp. do not represent actual price of offerings, but merely indicate the approximate market level based on buying and selling quotations of recent iransactons. Stocks Bid Ask
Agents Finance Corp com...
s|Belt RR & Stk Yd
Belt RR & Stk Y Central Ind Pon 47%
*Progress Laupdr Fup Serv Co Of
Van Camp Milk op . Van Camp Milk com.... Bonds . American Loan 5s 51 American Loan 5s Consold. Pin. 5s 5 Citizens Ing “Tel Ves 61 Home T&T Ft Wayne 5%s.. Crabh-Reynolds-Taylor 5s 42.. Home T&T Ft ayne 6s 45.. nd Assoc Te! Co 32s 70...) 107 ..105% 107% .104%2 308
.100 7 1.104% 7 106 58 106
00 104% 1
ndpls Railway ne Bs Si ndpls Water Co 3's Kokomo Water Works y 58. Kuhner Packing Co 42s ”. Morris 5&10 Ih 5s B50 . Muncie Water Works 5s 65.. Nat Silk Hosiery 5s 42 Ind Pub Serv 3%s 69.
58 Richmond Water VE 5s 857. Trac Term Corp 5 *Ex-dividend.
FOREIGN EXCHANGE
NEW YORK, Feb. 5 (U, P.).—Following are noon cable rates on major currencies: Cable Rates et Chg. England ( pond) eres .$4.03%2 Canada ( ar 82% taly tira, 5 Finland (markka) ... Snlizerand (franc) .. Sweden.
0, 7c. wiGountry , pickup 2 ‘quoted by the
in Michigan -Mutual’s
Motorists insured with this famous protection can get help from the most convenient source when-
$2pan Mexico eu»
Blue Ribbon
Mees’ Charges
ROAD SERVICE ANYWHERE =ANY TIME =
The Emergency Road Service clause garage or service station can be used. Starting, towing to nearest public Automobile Policy means just that. garage, delivery. of gasoline or battery, changing tires and reimbursement of bus fare or telephone
are included in this
| BUSINESS SHOW
PRICES EXTENDED
CHICAGO, Feb. 5 (U. P).—An|.
ROBOTS ‘STEAL’
One Machine in N. Y. Display Grades Examingtion Papers!
NEW YORK, Feb. 5 (U.P)—A thousand persons, say, make, pencil marks oppasite questions on printed cards. The cards go into a machine, the machine “reads” the marks, makes a soft purring sound, and delivers a sorted tabulation and analysis of the answers. ; It makes no difference whether the 1000 persons—more or fewer, as the case may be—are voting on local option or ‘applying -for jobs, the machine does its stuff. Just one-of a dozen new streamlined robots on exhibition today at the National Business show, it operates on “the principle of mark sensing.” That is, because graphite conducts electricity, the machine reacts to pencil marks on a card just
as similar purpose devices are activated by punched-out holes.
Claims They ‘Think’
Other mechanical marvels in the exhibit add, multiply, subtract, divide, compute interest and -calculate discounts. - Moreover, they do all the complicated things they do in a single operation, speedily and with never an error. As one manufacturer put it, “our machines think.” An accounting device, obviously designed for the world-of-tomor-row, works such magic that, according to the makers, a card properly punched and introduced to it can: List itself, eliminate itself, add itself to something else, produce an automatic balance forward, multiply itself by something else, file itself, select itself, classify itself, subtract itself from something else, and, finally, reproduce itself. It’s a big show. While pondering the significance of that last item in a robot world, rest a while on an air-conditioned cushion and worry about decadent democracy. An air-conditioned cushion, properly adjusted _on a correct-posture chair, will make the sitter-upon cool, fresh, vital, and—though the makers don't say so—sleepy.
- That ‘Feather Touch’
It’s sponge rubber, or ‘something similar, and “every movement of the body makes fresh air circulate through the millions of inter-con-nected air cells.” One robot will grade examination papers, presumably making teachers obsolete, and another will—and does — reproduce by . short - wave radio news bulletins typed on another machine a dozen blocks away. Practically all the electric writing maghine makers claimed their instruments - possessed “a feather touch.” Only one, however, ig duced proof. There it was—a gadget upon which mechanically manipulated feathers were tirelessly tapping out the message: “Xy-XYrXy-XY-XY-XY-XY. + «
DAILY PRICE INDEX
NEW YORK, Feb. 5 (U. P).— Dun & Bradstreet’s daily weighted price index of 30 basic commodities, compiled for United Press: (1930-32 average equals 100): Yesterday seeirscosncreinnnes 123.34 Week Ago. Sr BVT RNR RN RII R 123.39 Month Ago. Jiseveerensens oe 124.54 Year AgO.. 5 ....coundviir.e,s T1270 1941 High (Jan. Desessssnes 1352
Speaks Tomorrow
Thomas J. Kiphart, public relations director of the Fifth Third Union Trust Co. of Cincinnati, will discuss “Problems Confronting Advertising Amidst Changing . Conditions” at the Indianapolis Advertising Club’s luncheon at the Indianapolis Athletic Club tomorrow noon.
MEAT PRICES RISE ABOUT 4 PER GENT
. WASHINGTON, Feb. 5 (U. P.).— The price of meat increased about 4 per cent and retail costs of food
generally advanced about one-half of 1 per cent in large cities between Dec. 17, 1940, and Jan: 14, 1941, the Federal Bureau of Labor Statistics reported today. The price of cured pork was 8 cent higher than a year ago and higher than at any time since November, 1939. Beef prices advanced less than those of other meats but were 12 per cent higher than for the same period a year ago.
No. 9
WEDNESDAY, FEB. 5; 9
LISTS BRITISH
ASSETS IN U. §.
Standard Statistics Says .
Insurance Companies Are Big Group.
NEW YORK, Feb. 5 (U. P.)~-A list of nearly 200 companies operating in the United States in which British nationals have a direct investment of some. $900,000,000 was published here today by Standerd - Statistics Co., Inc. These direct investments, repre= senting the on pg block of British assets convertible into U. 8. dollars, range from insurance companies and manufacturing plants to smak farms and real estjte blocks, the research agency said. Standard Statistios reported (hes insurance companies constitute one of the largest groups of Britishowned. investments and indicated that many of these firms could: be liquidated by the British Treasury without difficulty. It expressed the opinion, However, that a considerable number ofthe smaller holdings could not be sold here because Britain “would be unlikely to risk the- destruction of values involved in an advertisement
prises.” Among the larger insurance ome panies included in. the Standard Statistics compilation were: Amer ican Central Insurance Co. #&t. Louis; Eureka-Security Fire & Mae rine Insurance Co. Cincinnati; Fede eral Union Insurance Co., Chicago; Safeguard Insurance Co., Hartford, Conn.; Globe Indemnity Corp., New York; Eagle Indemnity Co. New York; Newark Fire Insurance Newark; Pennsylvania Fire —- ance Co., Philadelphia; Orient Ine surance Co., Hartford, Conn. and
pef | Capital Fire Insurance Co. of Cali-
fornia, San Francisco.
WAGON WHEAT oS Ranapolis grain elevators
No. 1 a wr hp subject aed
Lo nmen Tow yello 5
mn: ig new No : white Melled oe No. 3 white oats. 336.
“Your Federal
Is Head of family must be related by blood,
There are some unusual cases.
$400 for each dependent. ”
Not infrequéntly a case like support of an indigent adult by a
case the exemption as the head of
tion.
sufficient for their maintenance. reason of their own income, but cannot be classified as the head of
1941 Low (Feb. 4)....c.00.... 123.34
Government Defines Who, for Tax Purposes,
For income tax purposes there can be only one head of a family. In addition to being the chief financial support, the head of a’
pendents, and he must have a legal or moral obligation to exercise family control over them and provide for their care. entitled to the same exemption allowed a married person—$2000.
person, who supports and maintains in one household one or more individuals who are closely connected with him by blood, by marriage, or by adoption, and whose right to exercise family control and provide for them is based upon a legal or moral obligation, is the head of a family, and as such is entitled to the exemption allowed a married person—$2000. In addition he may claim credit of
8
Another example not so much out of the usual is this® widower who supports in his household his aged mother and his child 17 years of age is the head of a family, and as such is entitled . to an exemption:of $2000 and a credit of $300 for two dependents.
legally obligated to provide a home for this individual. In such a .
cumstances of each case are considered in making the determinaIf the individual so supported is not financially dependent, even though the taxpayer maintains a common home and furnishes the chief support, the latter may not claim the exemption. A taxpayer who supports in his home his minor children over whom he exercises family control is classified as the head of a fame ily, even though the children may have an income of their own"
Income Tax ¥
a Family.
marriage, or adoption to his de« As such he is
under this classification. A single
# A
this is reported: It involves the single person who is morally and
a family may be allowed—the ecir-
If he does not support them, by does exercise family control, he a family. :
NET SURPLUS
E.R. Afles......covunennnnne PE Pressures Detroit Steel Products Co.
CASH IN OFFICE AND BANKS . UNITED STATES GOVERNMENT BONDS . STATE AND MUNICIPAL BONDS UTILITY AND INDUSTRIAL BONDS . . UTILITY, INDUSTRIAL AND INSURANCE STOCKS (Market Value) REAL ESTATE AND BUILDINGS (Home Office and Industrial Hospital REAL ESTATE INVESTMENTS (Leased or Land Contracts) . REAL ESTATE MORTGAGES (Improved property only) + « « « PREMIUMS IN. COURSE OF COLLECTION (Less than 90 days due) " ACCRUED INTEREST ON SECURITIES , o 9 0 ¢ ¢ ¢ ¢ ¢ o
TOTAL ADMITTED ASSETS
STATUTORY RESERVE FOR LOSSES . ‘STATUTORY RESERVE FOR UNEARNED PREMIUMS RESERVE FOR TAXES, EXPENSES AND DIVIDENDS VOLUNTARY CONTINGENT RESERVE
TOTAL LIABILITIES AND RESERVES , «
TOTAL LIABILITIES, RESERVES AND SURPLUS
ALL BONDS ON AMORTIZATION VALUE BASIS. BONDS AT MARKET VALUE WOULD IN. CREASE ASSETS AND SURPLUS BY $96,423.79 + + ADMITTED ASSETS INCREASED $831,595.81, OR 10.63%, OVER 1939 * « SURPLUS INCREASED $221,446.39, OR 12.36%, OVER 1939 « « TOTAL PREMIUMS WRITTEN-$5,895,594.17—-INCREASED $756,800.36, OR 14.73%, OVER 1939 * * SECURIL. TIES CARRIED AT $200,143.08 IN THE ABOVE STATEMENT ARE DEPOSITED AS REQUIRED BY LAW «+ TOTAL DIVIDENDS TO POLICYHOLDERS $8,950,590.50.
We Barely © certify that the abeve statement of assets and liabiliti d lus, in sets forth the financial coadition of the Michigan Mutual “Liability Company ‘at ibs ber siT0e0
...Detroit
Frederick L. Colby, Jr. Detroit
OF DETROIT
* ASSETS
Nal
LIABILITIES AND SURPLUS
sie 9 9 0 e \
> le oo oo © 0 0 & oo 2 0 oo
JOSEPH le
.
BOARD OF DIRECTORS
Detroit Wa President, Long Mig. Co.
F. T. DuCharme Director, The Detroit Bank James Inglis troit Chairmen, American BlowerCorp.
A. F. Jackson
Vice-President
Joagarn & CO, Accousten
Detroit perey Owen
TWENTY-NINTH ANNUAL FINANCIAL STATEMENT MICHIGAN MUTUAL LIABILITY (COMPANY |
FISCAL YEAR ENDING DECEMBER 31, 1940
$
$1,761,118.23 3,291,112.88 1,175,853.50 202,437.42 420,429.00 741,100.00 166,501.99 8,318.71 748,625.08 24.415.48
+ $8,855,984.98
o 84,089,497.34 « 3,011300.58 311,088.10 250,000.00 . «+ $6,642,191.92 o 2,013,793.08
« $8,655,984.98
ea aan
lter E. Otto........ceero..Dotrolt President of the Company
Rapids
Pres., Michigan Bakeries, Ine,
Pres Detroit West Michigan Hiden oN ady Co.
y Halsey, |. The latter has suggested that thes
types of railroad securities, such asf. ad equip-|
it 48). Bastian, :
ever and wherever they need it—even in the mdst out-of. the-way places. Theteareno limitations, such
i
every locality the author
ized dealer for your car, or any
tot Circle Tower
r
Non-Assessable od Dividend Paying A
specially designated garages.
FOUNDED IN 1912
“DRIVE: SAFELY . insuRe CAREFULLY > Amemeliie :
Crow 4
gmeroms Road Service clause. special representative will give you complete facts on this feature and the many other advantages of Michigan Mutual’s economical Blue.Ribbon protection. Call today.
No Club I'ues ® No Initiation ees
IHiCHIGAN ‘MUTUAL astiny COMPANY
Ll ncoln 2348
Secretary, Berry Brothers, Ific.
William H. Colvin, Jr. Detroit Pres, Rotary Electric Steel Co.
President, Weis Mig. Co.
Vice-President. 188 zee ant Treasurer
NON-ASSESSABLE
Michigan Malleable Iren Ce.
Chi ; Treas., American CRI Ann Arbor H. N. Torrey, M.D.
G. P. McCallum
Pres. Stel, Magkisae &
P.H hos Grand Pay Leia Iron Wotks
Pres., Peoples Federal Savings & Loan Assn. Detroit
of the Companys Hospital
Rapids 8S. Wells Ut
Es Dist Pres., Detroit Steel Casting Co.
PARTICIZAIING
MICHIGAN MUTUAL URBILITY, company
501 Circle Tower
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