Indianapolis Times, Indianapolis, Marion County, 7 February 1941 — Page 16
PAGE 16
BUSINESS
Engineer Charges War Industries| ‘Act Too Much, Think Too Little’
By ROGER BUDROW THE DEFENSE PROGRAM IS BEHIND SCHEDULE
because there is “too much action and too little thinking,” according to E. G. Fremont, president of the Emerson Engineers, an organization credited with developing many mass
production methods now used
Mr. Fremont says there has been a “wild rushing around” and the “upper brackets of management have been relying on the old American theory that we will get by
somehow.”
He doesn’t believe in the theory
now being applied in many industries, that production can be stepped up immediately simply by enlarging fac‘tories and hiring workers. He called conditions. in the vital aircraft industry . “appalling” and said it- “has suffered the most from unbridled expansion in phy—®ical equipment Roger Budrow and personnel. “In one plant ‘employing 5500 men,” he “they are turning out four planes per week. In another with 2000
men, they are turning out 10 planes|r
per week. In a third, in order to produce 15 planes a week, it ns 17,000 men. ' “These figures are appalling éven though airplanes differ /|and whether of the pursuit or Hegien type—are complicated mechanical products. In principle, these facts are true of all the war industries that thought they could grow gvernight from minor to major producing units.” The solution? Call in indy trial and management engineers “business doctors”’—to help war industries organize their activities. “Many of our largest and vita] defense industries,” ‘he | declared, “would today: be producing more with fewer men and less -equipment if they would take time out for thinking, objective counsel and the development of an all-permeat-ing organization set up.”
| 8 nn = | IT'S HISTORY now but the census reveals that on March [24-30 last year, Indiana had 1,152,470 persons working on private jobs, 67,622 on WPA, NYA, CCC and the like, and 107,253 hunting jobs. = |
8 tJ 8
ODDS AND ENDS: Canada is worrying about being able to keep her bacon agreement with England ‘(about 70,000 hogs are needed weekly) because farmers are selling to Buffalo and Chicago because of higher prices, Toronto Financial Post says. . . » Du Pont has sold all the securities it owns in German companies (except one small one), resulting in a $1,315,979 loss, according to its annual report. .. . The cotton trade anticipates renewed British buying of U. S. cotton as a follow-up of recent pacts providing for large-scale purchase of South American staple. . n Institute of Scrap'Iron and St el survey discloses there is considerable automobile body and fender scrap which might be available for steel manufacture if freight rates (to steel mills) could be cut make shipment profitable. . . . There are reports Donald M. Nelson will quit the Defense Commissiofi where he directs defense purchasing to return _to*executive vice presidency of Sears, Roebuck & Co. |
GENERAL MOTORS’
PROFITS HIT PEAK|::2:
NEW YORK; Feb. 7 (U. P).— General Motors Corp. today report-
- before deducting income and excess profits taxes. The earnings were the ghost in the corporation’s history and represented a 40.5 per cent| increase over the $228,141,412 earned in 1939. © Alfred P. Sloan Jr. chairman of the company, said $125,100,000 had to be deducted for income and excess profits taxes. The deduction left a net profit of ~ $195,500,000, the sixth best in General Motors’ history. Dividends of $4.32 per share of common stock were indicated for last year, compared with $4.04 in 1939. |
The income and excess profits|com
taxes was nearly three times larger than in 1939 and four times greater than in 1928, the corporation’s previous peak year in whic $309,469 before taxes. The tax provision was more than two-and-a-half times larger than the previous Jugh allotment of $49, i 135 for 193
OTHER LI VESTOCK
CINCINNATI, Feb. (T. Salable 2100, total 2450: holdovers 850: les; 1601225
and tellers bldg ng
10 more, t 225-250 1bs.,, bid $8.20; “3401160 1bs., mor $7@".
25. _Cattle—Salable 300, total | 400; calves
more :
said, |J
it earned |Msdium
1b.| Good and choice Medium
by American industry.
PRICES ON HOGS RISE 15 GENTS
Top Paid Here Is $8.35 as » 5337 Porkers Arrive; Vealers Steady.
HOG PRICE RAN GE Receipts
Feb, Hogs weighing less than 230
apolis stockyards today and prices on such weights were pushed upward 15 cents, according to the Agricultural Marketing Service. Heavier weights did not change in price because neither local nor out of-town packers bought very heavily in this division. Packing sows shared the steady trend on weighty — | material. x The hog top rose to $8.35 for good and choice 220 to 230-pounders. Vealers were steady with a: $13.50 top. Following a scarcity of supplies earlier this week, fat lamb
despite increased receipts. Fed yearlings were absent while saughter sheep held steady. Hardly enough steers and heifers were in the yards today to point a definite trading trend but the active movement cleared the yards early at fully steady prices.
HOGS Barrows and Gilts
BO 420 i Seas haama
Q DOTA DODD 99 D9 © 993999999
. . ee : . S333 00. woo PNONS NO NOS
Medi Mediu
- 200 pounds
Packing Sows Good and Choice— 270- 300 pounds 320. 3a? pounds .seeeee sesscne 6 Opounds verter ye 9.
300- "400 pounds .. 400- 450 pounds 450- 500 pounds edium-— 250- 500 pounds Saughter Pigs Medium ang Good— 190 pounds CATTLE Slaughter Cattle & Vealers (Receipts, 306) Steers
23 2333000003 WB DRO LILIBI
0
gm inn am oUo
5.90@ 6.75
Choici 75 90 110 130 Good — 750 90( 110!
13. a 14.50 13. 14.50 13. 14.50 . 10. Rens .00 3 08 + verern a ie 155813.00 00 =1300 pounds ceececsoescas ke 130 -1500 DOUNAS eccecesssses [email protected]
5 1100 pounds [email protected]
1100-1300 DOUNAS - os veveveesss [email protected] om.
750-1100 pounds Steers, Heifers Choice— 500- 750 pounds Good— 500- 750 pounds Choice— 750- 900 pounds
Good 750- 900 pounds s..ees sennass
- %00 pounds
[email protected] Heifers
[email protected] [email protected] 8.50@ 9.75 7.00@ 8.50
30
* 500- 900 pounds’ ommon— 500- 900 pounds
(Yearlings excluded) Beef— Good 7.25
1.25
Medium Cutter and common ... Vealers Good and choice ........ esess 13 00 Sopmen and medium
Feeder and Stocker Cattle Steers (Receipts, 316) Choice— 500- 800 pounds .800-1050 pounds Good— 500- 8U0 pounds 300-1080 nounds Roos 1000 ) pounds .
[email protected] [email protected]
[email protected] '[email protected]
8.25@ 8.75 1.50@ 825
ete ste gens, ssenceenecene
500- 900 ) pounds
Calves S(steers) Good and choice— 500 pounds down
500 pounds down
Calves (heifers) Good and choice— 500 pounas down
530 pon pounds down SHEEP, LAMBS (Receipts, 2316)
8.50@ 9.75
Lambs Good and choice ood 18. 00 .00@ 9
Mosium and goo Com. Yearling Wethers 2 9.25 5.50
5.50 4.50
E Good and choic
Common and medium .. . 350
pounds were in demand in Indian-|an:
7.50@ 9.00 M
H. P. Dibble (left) of Rising Sun is the new president of the Mutual Insurance Companies Union of Indiana, elected to succeed Charles T. Coats of Indianapolis at the close of the 45th annual convention ai the Claypool Hotel today. was elected vice president and Mrs. Glenna Watkins of Indianapolis was re-electecl secretary-treasurer, were Robert Gerstner of Indianapolis, Fred McKee of Brookville, Clayton Weis of Mishawaka and Curwin Leaming of Romney.
Lester Boger of Auburn
Directors elected for three years
N.Y. STOCKS .
4
Atchison
Atl C Ling Aviation Corp...
.Ben
Borg: Warne:
& TE "
Cahimet
Chry
Coca Cola Colum Gas .. Comm Edison. . Cigar
Cons Cont-Dia F.. Cont Ins Co: Cran Crucible St Curt P
D Lac & W Boe Mines . Pont . Du Pont ‘pf.
Elec Boat . EP & L $6 pf. Eve: ns Prod . air Morse
e Freept-Sul
Gen Bronze . Gen Ld . Gen G&EA
Gen Ouf Adv. Gen 8tl C pl. Gillette 8 R
Goodrich Gt Nor
111 Central . Inland Stl _.. Interlake Ir Int Ag pr Ph: Int Nigkel Int T&T
Libby McN é&: Ligg & Myer:
Marshall Field Martin (Glern
Munsingwea:’ Nat Acme
Nat Dairy ..
Nat Pwr Newbeiry New News Si. N:Y Sa. i i
No Pac
Pet Corp Am. Phila Read
Quaker St
ead e ing Republic Revere
St L-8 Fran
[email protected] | Std S Cal
td Stan © Prod
ud ven Budd aa Mi
pf. 4 Curtiss-We pp
Graham-Paige . ore..., Gt Nor Ore....
L-O-F Glass "ne
Nash « Kelv ...
Atchison pt’ . 2
Bath Ir Wks... 22% Ind Loan. 19 Beth Steel .... 8 orden 19
17% 6% 13
17 ie
« 6% 13
Celanese pr Tot] ot 113 Glueth "pead o
prices moved upward 25 to 35 cents, Sons Cig pr of, 99 Cons Edison ...
[] 8 Grown Zeller pil i
, 33% 31%
15 137 67%
one 40 Wat 8 A... 9erie 38Vs Gamewell Co ..
Gen Motors IY.
Gimbel Bros ..
7a 14%; 26%s —H—
Hollander & Son 8
Kennecott «i...
. 8Y2 362 67 67s 5 922 92%a —M— «15 ). 26% 80%
15 26%, 80% 36% . 11 11
412
Nai cash Reg Nat Distillers 53
:Y Ship No Amer 6 nt. ific .
Ohio Oil « ieee Parmat Pict.... Parke Davis eee n RR 27 Pere Mat 1 of 43
cli Phillips Pe; ..
@ 8.00 7.15 ii 8nd 7.25 | Pullman 6.00@ 6.75 ogi on. 8.00
adi .. ir aye hier If swe ng 1 of. Eitores.
Be .. Cop ... 10
il 36% . 62%
._ Net Last Change
ana
DUEL +
. .
By UNITED PRESS
--e
eo “o-
2 | Stew
I Sd Hii:
e+
‘4/1 BL
‘la gain of nearly a point.
FEE L+H
7 | Week Ago .... 2 |Mofith ARO «..c.. © | Year Ago
1 PT . Superior. Stl .. 14 4 essen
-,; | close. ; | several
30 INDUSTRIALS Yesterday ...... seve 134.96 Week Ago . 124.13 Month Ago «a... . 133.59 Year Ago High, 1941, 133.59; "Low. 122. 67. High, 1940, 152.80; Low, 111.84, 20 RAILROADS seesses 28.40 . 28.25
Yesterday .......
High, 1941, 29.73; Low, 27.94. High, 1940, 32.67; Low, 22.14. 15 UTILITIES Yester Week Month Ago Year Ago High, 1941, 20.65; Low, 19.53. High, 1940, 26.45; Low, 18.03.
Net Last Change + %
High Low Ta % 1%
War .. Superior Oil ..
Ys 5 7
Yess 3s
Texas _ Corp . e
“i Ys Ys
sry,
Wheel Steel ... White Sew M...
Yellow Tr
Zonite
STOCKS RALLY AFTER "EARLY N. Y. DEGLINE
NEW YORK, Feb. 7 (U, P)— Stocks rallied substantially in afternoon trading today after early declines ranging to more than a point. Trading continued light. The recovery carried some leaders back to or above the previous close. The turn was considered
4 mainly technical with some cover-
ing appearing when the market failed to react as far as had been anticipated. U. 8S. Steel came back to 63% off 5s after touching 623. Chrysler touched 64% and then rose to 66%, the later up 34 point net. Beth-
2{lehem Steel rose from 82% to 83%,
off %. American Air Lines showed Carbide came back to the previous Small gains were noted in utilities, Socony-Vacuum, Standards of California and New Jersey, U. S. Rubber and Woolworth. :
DAILY PRICE INDEX
NEW YORK, Feb. 7 (U. P)— Dun & Bradstreet’s daily weighted
i price index of 30 basic commodities,
compiled for the United Press (193032 average equals 100): Yesterday “s.vesssccscsnreenss 123.56 Week Q80 cceccccsssrocncncnse 123.55 Month ago G00 orcs srsnnenrane 125.12 Year ago ...
ssepccnnon
1941 High (Jan. 9)...se0ses0 12521
21941 Low. (Feb. Do 12334
FOOD PRICES
CHIC. Feb. 7 Michigan Sars. Ch —Michigan squares, Sigel Mexican lugs, [email protected]. bu., 80c@$1.10 Cauliflower — California crates, 5h [email protected]. Carrots — California crates, $3. Letiute California crates, $2.40 3.15. Sweet Potatoes — Tennessee, bu Onions (50-1b. sacks)—Iilinois 60 c: Minnesota ellows, 80@ 85c; Wisconsin yellows, 65@75¢c.; Michigan Yellows, 65@75¢c; Colorado sweet Spanish,
Connecticut Mutual Payments Welcomed by Thousands in 1940
——— THE INDIANAPOLIS 1 Insurance Union Elects
Union|,
S
DECENTRALIZE BANKS--EATON
§ |Urges Federal Reserve Plan
Be Used as Model For Nation.
CHICAGO, Feb. 7 (U. P.) —Cyrus S. Eaton, Cleveland investment banker, today proposed decentralization of American banking and reinstitution of competitive bidding for security issues. Writing on “Financial Democracy” in the University of Chicago Law Review published today, Mr. Eaton recommended the building of banking centers throughout the nation, following the model of the Federal Reserve System, rather than have financial machinery centered in New York. “No one has tried to explain why, in a democracy, the financing of some of our largest corporations should be a prerogative of favored bankers, to be handed down from generation to generation, so that no
than stands to pay a higher price . . .» . for the securities being sold, can ever hope to participate in the underwritings of these companies,” he wrote. ; He said the investment banking business is in danger of sharing the fate of the New York Stock Exchange ~ which never recovered prestige lost because it allowed itself to be used as a convenience by a group of New York bankers. None of the financial interests now arguing against competitive
‘bidding for security issues has ex-
plained why there should not be competition for supplying money as in supplying any other commodity, | f« Mr. Eaton stated.
PRODUCTION OF OIL DROPS MODERATELY
NEW YORK, Feb. 7 (U. P.).— Crude oil production declined moderately in the week ended Feb. 1 while national gasoline reserves were increased by more than 2,100,000 barrels, the American Petroleum Institute reported today. Crude oil output in the latest week averaged 3,590,150 barrels daily, a decline of 8950 barrels from the previous week, the Institute reported. A year ago production averaged 3,498,800 barrels. The decline on the week largely reflected a drop of 13,000 barrels in the daily California output. Minor changes were noted elsewhere.
15 MILLION LOANED TO INDIANA'S REA
Times Special
has 101 Rural Electrification Administration projects for which $15,= 361,354.12 in Federal funds have been advanced, REA officials reported today.
The projects consist: of 19,236 miles of line serving 48,333 customers.
ending June 30, 1940, was $1,175,256.75 the report shows. The payroll took $201,265.55; purchased power, $306,137.17; general expenses, $125,777.43; insurance, taxes and miscellaneous, $62,937.18, making total expenses for the year of $716,337.49. Net revenue available for interest and principal amounted to $436,632.32. Interest and principal due and payable for the period was $275,471.79.
other banking house, not even one}
h WASHINGTON, Feb. 7.—Indiana
Total revenue for the fiscal year|,
No. 11
a
with the problem of ascertaining, income, and (3) his surtax net
inventories at the beginning and In the case of professional architect, a surgeon, a dentist, a
Amounts received from the they were received. Revenue approves a change to a reau of Internal Revenue shows
credits against net income are
similar items definitely set out in
Your Federal Income Tax
Meaning of Terms Gross, Net and Surtax Net Income Is Explained. In computing a Federal income tax, the taxpayer is confronted
accompany the forms clearly and explicitly set out how this is done. If, after reading them carefully, the taxpayer does not understand them, he should consult the nearest collector of internal revenue. Gross income, generally, is all income derived in any taxable year from any source whatever, unless specifically exempt by law. In any unusual business, the gross income of the person operating it consists of the gross profits on sales, plus any income from investments and incidental or outside operations or sources. income tax return must show the exact condition of the business —gross sales, purchases, and the cost of the goods sold, and the
—the gross income must include all fees, salaries, and compenation of any kind received for professional services.
at the option of the taxpayer, be considered as income and shall be included in the gross income for the taxable year in which If the option was exercised for any taxable year which began in 1939, it shall be adhered to with respect to all subsequent taxable years unless the Commissioner of Internal
Net income is the gross income less the deductions allowed by law. The long-continued and varying experience of the Bu-
by taxpayers in their income tax returns due°to their failure to understand clearly what deductions from gross ificome and what
own interest, is urged to read over the instructions on the forms until he understands them, before he makes out his return. Legal deductions include business and professional expenses, and bonuses to employees, taxes, losses, depletion, contributions, and
An earned income credit of 10 per cent of the earned net in. come, not in excess of 10 per cent of the net income, is allowed, _in addition to the personal exemption and credit for dependents, if any, for the. purpose of computing the normal tax. Surtax net income is the balance left after deducting exemptions and credits from the net income. the earned income credit and other specified items’ on which the |, normal tax of 4 per cent is computed.
(1) his gross income, (2) his net income. ‘The instructions which
The
end of each taxable year, men—a lawyer, a physician, an clergyman, a writer, or any other
Commodity Credit Corp. shall,
different method.
that numerous errors are made
allowable. The taxpayer, in his
the instructions,
From this balance deduct
RYE, WHEAT PRICES YIELD AT CHICAGO
CHICAGO, Feb. 7 (U, P), — Wheat prices on the Board of Trade were under moderate pressure today and as a result prices yielded about 1, cent a bushel. Rye duplicated the action of wheat, while other grains displayed a steady tone. At the end ‘of the first hour wheat was off 3% cent to 3% cent, May 82 cents. Corn was unchanged to up 14 cent: oats, unchanged; rye off 1, cent to 1% cent, and soy beans unchanged to up % cent. Selling in wheat was mostly loca] in character and apparently influenced by the lower stock market.
WAGON WHEAT Indianapolis grain elevators are vayip r No. wheat, 80c; subject to marks change: other grades on their merits. Cash corn; new 4 white shelled corn, 57c;
©. No. 2 white oats, 32c.
Local PROD UCE
In Qinna Frade g! diana Grade A medivi} eggs, small Grads A d No.
rade, . g Butter—No. Bape 31%c; butterfa La 28c: . (Country pickup Noo quoted by Wadley Co.)
FOREIGN EXCHANGE
NEW YORK, Feb. 7 (U. P) Hollow. ing are noon cable rates on curCab Pree Net 0%
BES 12¢; no
No. 2, 31@ No. 27c. the
encies: England (pound) Canada (dollar) taly (lira) "inland (markka) Switzerland. franc) see Sweden (k Japan (yen) Mexico (peso)
HOLDEN HEADS DODGE NEW YORK, Feb. 7 (U. P.)— Thomas S. Holden has been elected president of the F. W. Dodge Corp. to succeed the late Truman S. Morgan, it was announced today.
du Pont Tax Bill Million a Week
WILMINGTON, Del, Feb, 7 (U. P.)—E. I. du Pont de Nemours & Co. paid taxes in 1940 at the rate of more than $1,000, weekly, according to a statement prepared for
report.
material costs exceeded that figure. Wages and salaries totaled $95,800,-
$88,000,000.
amounted to 65.2 per cent of earnings available for dividends, compared with 23.7 per cent in 1939 and a range of 59 to 8.8 per cent in the years from 1925 to 1931. Of total direct taxes about $50,200,000 went to the Federal Gov-
paid the treasury in 1939,
ASPERGER HEAD OF | = LOAN ASSOCIATION
Fred Asperger of First Federal Savings & Loan Association has
ings & Loan Institute, succee Frank Riggs. Robert Fredenburg, Railroadmen’s Federal Savings Loan Association, was elected first vice president; W. R. Bockstahler, Peoples Mutual Savings & Loan Association, second vice president; Miss Jean Fox, First Federal Savings & Loan Association, secretary, and William Read, Fletcher Avenue Savings & Loan Association, treasurer.
inclusion in the company’s annual Ce
Taxes paid last year aggregated B $56,700,000. Only payrolls and raw |in
000 and raw material costs were jogos Li
ernment, compared with $16,000,000 A
been elected president of the In-|py dianapolis chapter, American Sav- |i
FRIDAY, FEB. 7, 1941.
RETAIL TRADE AT 11-YEAR TOP.
Dun & Bradstreet Reports 8 to 17 Per Cent Gain In Midwest.
NEW YORK, Feb. 7 (U. P)e= Retail trade this week “remained at the highest level for the season in 11 years” while the flow of otders at wholesale “continued heavy,” Din & Bradstreet, Inc., reported t0ay. Dollar volume of retail trade for the week was estimated 9 to 12 per cent above the corresponding 1940 period, compared with a year-to< year gain of 8 to 12 per cent in the previous week. “As a rule retailers found sal results for the week highly sa factory,” the trade authority d clared. “Occasionally it was felt that consumer spending, although, improved, did not yet reflect the’ substantial increase in industrial ; employment. oF “The repayment of old debts was! thought still to impede the full exe: pansion in buying. In many {nes stances, however, retailers reported sales outrunning expectations. TR “February, normally one of thet poorest retail months of the year, was said to have gotten off to such an auspicious start that reorders on February promotional merchandise : were already being put through in ; substantial volume.’ ¥ | Retail trade showed the follow: ing percentage gains over a yearW ago on a regional basis: New Enge land, up 5 to 8; East, 7 to 13; South, § 12 to 20; Southwest, 10 to 15; Mid dle West, 8 to 17; Northwest, 6 to | 11, and Pacific Coast, 5 to 10, “Larger stock requirements for immediate selling and an expansion } in forward covering were hoth res: flected in the rate of ordering atl wholesale markets,” Dun & Brads! street said.
LOCAL ISSUES
The following guotations, by the Indiane apolis Bond & do nob repre= sent actual Si of offerings, but mer; i indicate the approximate market level: based on buying 41 and selling Suns recent transac
ed i
PH
a A i Feo
“st ocks Corp com...
Agents Finance Stk Yds com
pelt RR &
5) Hydro Elec. 7% ‘pid’ Indpls &L ¢ °
The report shows that 1940 taxes|sN 10.
0 Van Camp Milk pid. . Van Camp Milk tom
Fin 5s Citizens Ind Tel 4Y%s 61 1 Home T&T Ft Wayne 5%s...102 Crabb-Reynolds-Taylor 5s 42.. 97 Home T&T Wayne 6s 4..10
do.
oi TRAWLERS BOSTON, Feb. 7 (U. P)—J. L, Alphen, president ®f the General Seafoods Corp., announced today that four Diesel steel fishing trawhe ers will be. built for the corporas #
with RED CROWN |
... it starts “just like 2.1 that”
® Enjoy quick-starting this winter without
sacrifice of economical long-mileage and
high anti‘knock. Red Crown for winter
packs all three advantages into one great
gasoline—reguiar in
formance. Keep your
rice, but tops in pet-, filled with this
’
$27,041,667 HELP TO MAINTAIN HOMES, PROVIDE COMFORTABLE RETIREMENT, EDUCATE CHILDREN, MEET EMERGENCIES
Progress Marks-our 95th Year
Insurance ia Force stands at $1,084,835, 293, the greatest ‘volume in the Com. pany's history. It represents a gain of $42,980,589 during the year. {New insurance protection to the extent of $101,948,307 was taken out, which 1s 11.12% more than in 1939, and the largest volume in the past decade, JAssets were increased by $29,382,558 to a total of $394,881,555, §The Surplus Account was strengthened by an additional $1,546,343.
200; oderately getive and stead i ) i sional} A Sp Mig special cold weather motor fuel—let winter 38. 30 10, 00; ow Read highgwelght steers eifers, [email protected]; medium to sows: [email protected]; cutters "active at Ssieca!}
ood Sheep— 200; slaughter lamb § trade fully steady: sorted Strictly choice lam at S11e11.35: : R00 an choice grades, [email protected]; flay BUEhter ewes steady; med um and good,
CHICAGO LIVESTOCK
29 do its worst, and you'll drive with a smile!
Receipts,
3 fine gasolines—priced to suit your purse: At the RED Crown pump—Red Crown, regular priced , . . At the WHITE Crown pump—-Solite, premium quality ... At the BLUE Crown pump—=Stanolind, bargain priced;
. S, Cattle—Receipts, 700; ho “Ro: ov. steady; clean-up market on meager sup iy fed steers and yearlings; nothifig cho here; ver: little Hi $0050.08 best a ht .. | steers, $11.25; mostly 5; er | killing ®.asses fully steady; cows wy a ., | dium heifers fairly active: sprinkling. beef ., cows, [email protected]; vuiters s, $5.25@ no $7. 50-400 ., choice heifers here; 10; weighty LH 140-150 os $n 15; bulls up to $7. 38. and selevted -1 Joajers to $14; country demand for heavy " $6: Lo as; Re 8:8 good to choice feeding steers narlambs, i Soa ollowing giz ° activity early in
oy 000: late Thursday, fat and 25@35c higher h pers: most §ood in C ole e
P.).—Gov- 10.50; ts fof the own 0 $10.35: 108-108-1h weights, eb, | 5, com- . 030: oad 120-1b.
Last Year % 555,536.52 | > 1907,417.60 135, 648,118.92
3 as 408; $13 92 2.335.141.072.88 || 4,801.57
,837, o ,633 ; 2,147, 50. 619.61 Gold Res. .22,122,415,187. 9 1 ,952,877, 108.52 Customs ,. 196, 843,581. 581.4 '217,867,862.80
INDIANAPOLIS 8 CLEARING HOUSE Clearings .......cco0vee. haievaens $3,157,000 Debits ......c.cviveinvesstinacess 9,448,000
FT. WAYNE, Feb. 7 ( Steady to 15 cents hi her} 20; 190-210 1lbs., $8.05;
P.).—Hogs—
INCOME
[——————— PREMIUMS $47,138,304
PROCEEDS LEFT WITH CO. & MISC. §7.987.561 INVESTMENT INCOME $13.906,700
calves, os 50;
WASHINGTON, Feb. 7 (x. SISTRIBUTION ernment expenses and recei current fiscal year throug! pared with a year ago: | This Year
Exp .$6,49,944,852.34 Receipts . «3 356 ,804,763. 32 Gross Def. 1,140,088. 17! Net Def. ‘3 "089.989, 738. LH 3 028,721,689. 59 i ¥ 285,827,047. 30
ted
[ sTanDARD. | SERVICE
l Enjoy « National Credit Card,
enses 90.004
ns deck butchers; several (hs choice fed Western
amb 5 held al lambs bove $10.50; sheep practically
AUTO and DIAMOND
LOANS
and Refinancing 20 MONTHS TO PAY
Wolf Sussman, Inc.
i. 139 W. WASH S1 1 ERY INES E00) Sa
4
A detailed report, listing investments, will be sent on request, The Annual | Meeting of policyholders will be beld at the Home Office, Hartford, February 26, 1941, 4 10 A. M. Every member is entitled 10 4 vose. :
loads et ly good
Apply to any Standard Oil Dealer.
= ¢ oe ob] THE CONNECTICUT MUTUAL ere.
LIFE INSURANCE COMPANY + HARTFORD. 1 . “alll | 2A CY |
THE JONES AGENCY
General Agents i
Indianapolis .
GUARANTEED
{V4 7 LL
AT QUR USUAL LOW PRICES S
Pe B= hi AEE E) pe | -_ D - {
Circle Tower,