Indianapolis Times, Indianapolis, Marion County, 8 February 1941 — Page 9

BUSINESS

Farm Income This Month Hits The Lowest Point of the Year

By ROGER BUDROW

: FARMERS’ INCOME USUALLY DROPS in February to the lowest of the year and this February will be no cording to the Agriculture Department. It’s true that prices of farm products now average ce the war broke out. But, with the exception of the livestock and dairy industries, farmers have com-

exception,

the highest s

paratively little tosell at this time of year.

Demand is greater and farm income this year will probably excee last year. Bu

STOCK MARKET

CONTINUES DULL

Most Changes Fractional; Bonds Are Irregular At New York.

NEW YORK, Feb. 8 (U. P)— The stock market continued dull today with prices firm. Bonds were narrowly irregular and commodities

| moved over a small area.

Most net changes were fractional.

Minor gains were made by steels, motors, rails and mercantile shares. Coppers, oils, utilities and rails were narrowly mixed. A few issues broke out a fractional area, including

“Speaks Tuesday

WHEAT PRICES

EASE AT CLOSE

Corn Is Slightly Lower gn Chicago Board of Trade.

‘ CHICAGO, Feb, 8 (U, P= Wheat prices on the Board of Trade displayed a firm tone from the outset, a reflection of the action of stocks and firmness of the Kansas City market. Rye lost frac tional ground but other grains.

| ruled steady to firm.

Wheat closed up % to off %e, the latter on the September delivery, May 82% @%¢c. Local selling of the new crop months erased all of

the upturn in the final minutes, Corn finished off % to 3c, May 61%c; oats unchanged, May 36a; rye off ¥% to %c, May 44%a, and’ oy beans up % to %c, May 95% c.

costs of farn production are rising now, will go still higher, the department

PRICES ON HOGS fe ADVANGE HERE

porting gner| Top Lifted to $8.45 by 10 wages this wal To 20-Cent Increase At Stockyards. -

more farm hands are being emHOG PRICE RANGE Receipts

Chester O. Fischer, Massachusetts Mutual Life Insurance Co. vice president, will address a dinner meeting of the Indianapolis General Agents ‘and Managers Association in the Columbia Club Tuesday.

George Helme preferred, Otis Steel first preferred and Universal Pictures first preferred, each up 2 points and more. Bath Iron Works featured in activity and made a small gain. The company, which makes destroyers for the Navy, yesterday reported 1940 net profit equal to $4.90 a share, against $1.58 a share in 1939. New

York Shipbuilding also was firm, although dull. Paramount was active and slightly 2

easier. Directors raised the divi- Corn— dend to 20 cents a share from 15 May.. 61% .62 | .61% cents and reported net income for July. . 817 .62 8134 the 53 weeks ended Jan. 4, at $2.63 a ’ : a share, against $1.08 in the previous May... .36 Ey) year of 52 weeks. Low-priced motors on . July... 32% 32 High Low Close Chinge|Vere active around the previous Attribute January Rise t0| ye

close ; he : ‘ May... 45 Ad Reliable Bjores.’ V2 %|C July! 46% % | 48% pt... dr ssograph . 14% Ve Week Ago ... on

Increase in Food feah Lt is | Month Ago 1s 13348. 53 Heyn 9p Fin 133% A Vo — Curb Stock S Soy Beans—

195.49 010 Reve oath oi ads 337 % Costs, Housing. May... .95% lied G8, . 150% . a ies Year Ago —0.10 Rustless I & 8t 10% Ts ‘ene Jul 82Y . Net uly... .82% Ardell 1 High, 1941, 133.59; Low, 122.63, gg High Low Close civete| NEW YORK, Feb. 8 (U. P).—The| para— Heh on. 20 RAILROADS St 1-8 Fran pf. ii rE aan 1430 i T y cost of living for wage earners In|jiey™ 843 “| Today ..... ceeives 238.28 Schenley Dist. 1074 ? "33% 34 v (the United States during January|July.. 813

Am Cyan . 34 Yesterday ...evieessenerssen 28.31 wpb 19]SCOLt FD Am Gas wr E... 30% 30% | continued the slow upward trend Week ARO «cioeecvcrcacecsss 28.10 Eh l ve 155 12%, Ya | CO! p

Am Lt & Tr. Month Ago .... 29.65 Bpeve) I bey Am JSazacaiho,, 3 18 that started in December, according heat No als, gh i 29.73: Low, 27.94. shell” Ur Un Oil. Ger 3016 1-16| to a survey conducted by the division | yeiic gh, 1940, Low Yalof industrial economics ‘of the |33%sice.

* High, 1940, 32.67; Low, 22.14, d % : . S Ca “ee Aviat & Tran . « 3% Ye 15 UTILITIES er | .... |Bald Loco ws... 5 Conference Board. tan ° So Sor “Beghs FE y ves os obVac:

TOARY ccccvvscessssscssness 20. Barium Stl . : : , low. Tl Bliss Ew The board's economists reported Beis Sample grads. sic: Ey Week ARD....ovenrrencrrrnse 1956 that the wage earner’s living costs|3a@ 8c! nominal. Field seeds I

Month AO «coceeecsnsescess 20.58 last month stood at 86 per cent of om Timothy ID: Am Bug) 1 14 Year Axe sreeease 20.95 the 1923 average, an increase of 0.1|;0} sha). ¢ ’ Am T & T ... High, 194i. 20.65; Low, 19.53. per cent over December and 1.7 per|i Lard $6.42 bid jonce. Gh 3. Domi : . s, Am Tobacco ... 8 69 69% High, 1940, 26.45; Low, 18.03. Pent higher than in January, 1940. ea no Li, ] The latest figure was 19.9 per cen over the low point of the depression a reached in April, 1933, but 13.8 per 5| cent below the January, 1929, level. | ou oitrance® ds. "5 rad" Batic: No 1 Increases in food and’ housing hard, 8 sige; No. 2 Bar, Jase. costs comprised the bulk of the Jans yellow, new, 56@57%¢c; No. 4 yellow, new, uary rise. Food prices were up 0.5 31055 Siac: white Loom, 3 3@ic over yellow; per cent from December to January| Oats—Steady; Meh oy 5 cars; No. 2 »|and last month were 3.1 per cent| White 8 Se c; NO 3 oe 350308, is higher than in January, 1940, and Ly Fellow, eas: Pt linots No. 3 28.8 per cent above the March, 1933,| yellow, 83@8 low. Present prices, however, con- WAGON! WHEAT tinue 25 per cent below the level of| 1ndianapolis grain elevators are paying January, 1929, for No. 1 wheat, 80c; subject to marke Purchasing power of the dollar tn|Shange; Other BTades on hel Cros, sie: s| January was equal to 116.3 cents,|No. 2 ‘white oats, 33¢. compared with 116.4 in December, ti 118.2 in January, 1940, and 100.2 in| {ncorporation January, 1929, the board reported. p § amendment ‘increasing yD Botred Class

Ch icag 0 Stocks common stock to 30,000 shares of $5.00

High Low Close |Par value.

i a0 = 49 Pal so=se win 60 AND OVER

UNTIED | STATES — 43 : ”” RANGE

High Low Close Wheat" with May... .82% .83% .82%

July... J% 1% 16% Sept... J1T% Ta 6%

Less than 2.5 per cent of Indiana’s 1,005,995 dwelling units were vacant on April 1 last year when the census was taken, according to the Commerce Department. A total of 961,500 dwellings were occupied. There were 30,785 ACH 4A fon ase or rent and 13,710 vacant but not for sale or rent. In cities the vacancy rate was 2.3 per cen in rural areas the vacancy rate was 4 per cent.

FINAL NEW YORK STOCKS

Bv UNITED PRESS

DOW-JONES STOCK AVERAGES

30 INDUSTRIALS A ceesevenasnnaes 12871 4041]R ids .. | Xesterday cesses 124.30 —0.46 Republic Stl vf 100% RE /8

ployed. PrinciRoger Budrow 1" jevelopment in the livestock industry has been the recent sharp advance in prices| jan of hogs. A 10 to 20-cent advance|gan was made ab Indianapolis today, F _.boosting the top to $8. 45 per hun- |p . dred pounds. ns for this, the department says, are that fewer hogs are

i brought to market than forhein ti prospects are for ain hog prices at Indianapolis stock-

smaller’ pig crop this spring than|yards today, lifting the top price to - last spring. $8.45 for good and choice 220 to 230- : The other chief source of farm | pounders, the Agricultural Marketincome for February—dairy prod-|ing Service reported. ucts—is also favorable to the farm-| Hogs weighing less than 230|2 er. Demand for milk and dairy|pounds were 10 cents higher than 4 products is excellent and produc-| yesterday while weights over 230 fion is breaking all records. Prices pounds rose 20 cents. The Market- (4 are highest since 1937 and farm /in-|ing Service estimated 425 salable

sscpesse scecsene

Net High Low Close Change —f Abbott Lab pf .119 119 A 10 to 20-cent advance was made|Adams Exp .. 6

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Slaughter Cattle & Vealers (Receipts, 425) : Steers + 3 Stock sales approximated 180,000

shares, the smallest short session turnover since 170,000 were traded

Sept. 14 and compared with 310,000 a week ago. Curb stock sales were 53,000 shares against a simliar amount last Saturday.

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Perine Oil Refining Co., Indianapolis, registration of (rademark, “Top i ht,”” Class 15; oils and greases urwich Iron Co. Inc. South/ Ben

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TE AUTO LOAN

20 Months to P-A-Y

SACKS BROS.

OLDEST AUTO LOAN CO. IN INDIANA 306-308-310 (NDIANA AVE.

Is Your Liver Asleep?

22 22 |Do You Drag out of Bed and Drag . 313; 32 Through Each Day Without Any ee, ‘or 63% 8 Woodall Ind 5 5 Pep?

BUILD 135-MILE PIPELINE Don’t be that way! The only trouble is you need Haag's Liver Pills to put you

NEW YORK, Feb. 8 (U. P)— right back on top. [It is very important Fleatings «x... --$3.261.000| Southern Natural Gas Co. today an-|that everyone has sufficient bile flow to pare > "his! Week 3200 nounced the award of a $2,200,000 (keep intestinal wasté moving. If this is Clearings Merete rri ri rirasiyes $21,612,000 | CODtract to Ford, Bacon & Davis|not done you become bloated, your Debit 57,230,000 Engineering Corp. for construction stomach is sour. and life in general looks of a 135-mile pipeline to extend |Pretty dark. Keep that bile moving into

WINNIPEG WHEAT nroe your intestines every day. and keep thas from Mo gas fleld in Louisiana smile on your face because you're feeling

h Low Close Class to the Logansport field near the TT 8.18 TOPS! Available at all Haag Drug Stores #8 1102 8 18. 8 784% | Louisiana-Texas boundary. In 95¢ and ‘S00 sizes: |

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21 ry Borg Warner .. 882 e Tr pal Ah vine Brach & Sons ..

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Vestvaco of. 28. 8 845.68

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INDIANAPOLIS CLEARING HOUSE

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American Loan 5s 51 American Loan 5s 46.. Consold Fin 5s Citizens Ind Tel wi 81. Home T&T Ft Nayne iis: Ys {xabb.Reynolds-Tay or 55 42.. Home T&T Wayne 6s 43

be the largest in a decade. sheep were received here today. ” id HOGS supply in Brazil, has ordered $100,- - 000 worth as first step, according to Am ei Fo... Am Wat FW. American manufacturers need ‘Anaconda (In 100s) High Low Close Change defense authorities want to cut off Good and Choice— Radio ..... co 40 43% 4% 4% the start of the war. Every Italian Goo, oungy .. Packard 316 3 3 ported, has carried bags of dia-|medium Sharp & Do'e 27 4% 4% 4% 4 std Oil is . Washington by turning over what- - 190 pound 6.00@ 6.85 id = » i 34% Gen Am Inv.. 283 4% 4% 41% . = 900-1100 iis . . [email protected] 11 ater, the|Good— water company sells Wwaler, " 9 =1300 pounds ....,.. -| 750-1100 founder and president of the Car-| 130-1330 pounds 89821078 ionin Net may have an air condit g| cho High Low Close Change |§ Homa + i Sot . amount of heating and cooling serv- Heifers CY 83 cia Int =F pr... 6 % 62} + lus pmels Tilt 83% 63% upants will pay |Good— ¢ & . : ee home so that the occup p L750. 800 pounds ............. [email protected]| Calumet & H TT & Tower 2 + Ys{Univ Pict 1 pf. 128 = 3 % 5% Case J I 5 50 Sa eie V2 500- 900 pounds 7.00@ 8.50 3 n Raalte ... 243, ODDS AND ENDS: Hudson Motor 26 ! ls 1% Ve een WASHINGTON, Feb. 8 (U. P.).—Govern- —— : with a year age , builders, hopes to be making whole Certain-td 6 bt 3 th le importer of cotton in Chi Pneu 7 now: the sole Imp Sood vees 13 7.75 | Chi Pn “Fool pf. 5 Lam? [OF Glass ioe 170 tons of flour at New York re-|Good and choice : 13.00413.50 Coca Col 12.00 i der and Stocker Cattle Steers - Coast. ‘General Electric paid 800-1050 pounds 10, . vents .. 97% ; a 30 0 sits, 1¥ale & °F ... duction, Average suggestion re-|"s500- 8uo pounds .. [email protected] Common— LOCAL I E dollars went to employees at Ft. |Commop= SSUES December raw fur sales at $2,387,450, (209, pounds down en Rell Rn 500 pounds down 8.50@ 9.75 G recent oh on Exchange reports ma t value of all 500 pounds Lo fedium St k Y SHEEP, LAMBS (Receipts, 250) B Dod oi i 1 is % 33 3 Hook Dru Coty Inter .... 3 a. 2 ree HICA LIVE K Good and choice 0. ne’ 2.01021 102 4 30 1 Sis CHICAGO LIVESTOCK geet ang, snot, 'gaaaie sm cream Wn "Mh Mh Mh 4 CR y [BE Eh ei 4 ) Py * 7 he wee Hogs closec. Good and choice 8.75@ 9.25 Indpls on most butchers, heavy ing s and sows, | Mediu [email protected]| Curtiss Wr .... 8% 8% font REL 311% pl pid PR R ; N [email protected]; RB g *N Ind Pub Serv 6% Deere & Co...’ 20 0% + Nat Biscuit .... 17% 17% YY be L % Na Biscuit prtii Mm N.ind Bul) Be 5 week: 1c Hei’ : v “a Pub Serv Co of Ind 7% pfd.. port bulk steers and (U, P.).— Nat Distillers . Por 25; little above rim rN D ehl Ne 5 22 3a Nat Lead pf A me hty steers at $15; i lon ed n ighty y sheers. "13014: most Ale these a

m come from dairying this year may cattle, 25 calves, 1500 hogs and 250|3 DEFENSE COMMISSION is try- Barrows: and Gills Ing to corner the industrial diamond Good to Choice— 160 rters. There are two reatrade qua Am Water W'. 8 a 15 MOST ACTIVE STOCKS Sons. Am Zine ...... 6% 6% 5% Sales Net them to take place of Sismonds for Medinie- pounds Bath Ir Wks.. 62 21% 23% 23% merly obtained from Africa. Packing Sows, Para Pix .... 48 117% 113 113% supply which has been going fom 310-300 Dounda raiene U S Steel .... 35 63% 63% 63% Brazil to Germany by airmail sinc foo 2 3 36 Opounds .... Gen Elec .... 33% 331: 33% was re-| 400- 450 nds .. he Gen Motors... 4 44 443; flying boat leaving Brazil, it 450- 500 pounds .. 6 NR 17% 17% 17% is| 250- 500 pounds pn for German industry. It to “"'y. | Gen Bronze... 25 4 3% believed Brazil will co-operate with Medium and Saul & Ohlo .. : : + $ Graham Paige 24 % ever stones may be required. for U. Penn RR .... 23 233 23% 23% S. defense Prvlst ies. Choice— 3, | Beth Stl 84 8313 84 WEATHER will be anarattiredl 750- 900 pounds ... gre venue S13 [email protected] 1100-1300 pou Es Ly . in the future and sold just like the|j533-1303 hounds 13001430 -900 pounds power company sells electricity, Dr. -1100 “pounds Willis H. Carrier believes. The 1300-1500 pounds rier Corp., air conditioning manu-| Common— future 50-1100 pounds 7.50@ 9.00 facturers, says cities of the fu Steers, Heifers 5 “factory” and meters will be in- 300-7 750 pounds [email protected] y Int M Marine. 8% 8 + vented which will measure total} "500- 750 pounds [email protected] 3 1 +++* [TInt Nickel 28 33% 5 ry U Ru Laat a ci ’ . Choice— . y 2 ice delivery to each apartment OF “75 “505 pounds ............ [email protected] [acison. mt T&T 2h ha J 8 Tob ...... 30% 130% % 2 for only what they receive. edium— Tal Fe —— Wright Harg .. 4% y 500- 900 pounds 8.50@ 9.5] Gan Easifc ... Johns-Man ..., 59 Y% Sales... 1- 1s 7-16 8g nn Common— Can Facific ohn ee 51 U. S. STATEMENT 4 Goo, a-Caro Ch ... 3% 2% Car Co. is now making ailerons for) yedjum ; eA] 32 Virginian Ry pf 33 33 ment [Sxpenses and recel te w the i ne he oe V rent fiscal year Toug! e , compare one of the large Eastern airpla ner 4.25@ 5.00 Waldorf Sys .. 8% 8% * Walworth ..... 5% 8 his Cerro de F Expenses. $6. Ss 114. 513. 3 wings and other parts soon. . . .IB Certaiitd 8 pt 3 Receipts 46 - The British Minister of Supply is 7.25@ 8.00 | Ches & Ohio pf 10 the United Kingdom, result of a new| edi um ee 6.75@ 7.25 | Chi muon sessesss. 6. contol order. China bought 20a 6.75 Cleve. a Iii pi 1 ; NZ. NZ ee IU MeN Son “ 9 {oekhd Airer . Ci mon cently, reportedly because cargo ship x one 300012.00| (ofa Ta ‘space was scarce on the Pacific noice (Receipts, 25) qd its employees $77477 last year for|“s50 %g0 pounds ......... .. [email protected] | Eom Tag hx’ suggestions in improving plant pro- 8 Solvents .. 97% %- 8 [email protected]| Somelth 86 pf. 5% 25° 35 Flow Fhest i X 3 cere oun eet .. ceived a $6.73 award. Eight thou-| 800-1050 rounds . g sand eight hundred and thirty-siX| 500-1000 pounds .... 8.25@ 8.75 1.500 8.25) &, J Wayne branch. American Fur Calves. istecrsy. " The following shire Ens. by the IndianMerchants’ Association reported | Good and choice— C apolis Bond & do not repreum— [email protected]( & 5 : ] a 3% 2% To indicate fhe, Approxim ate market level er cent increase over De- oil 5% 2% a ob 14%, 4, based o and selling quotations of Calves (heif ; 26 He . New York Stock Good and choic ii § 38% Sh .... gents Fina Stools [email protected] > BE RR bonds listed there dropped more Neovo Mach » 2 Beit t BR & than 456 million in January. 20D 9.00) Copveld Stl 4 ; Lue 1% Comin “Loan 5 Ho ate Home. T& Asso Tel C Hogs—Receipts, 300; no early action on Comm 8.00@ 9.00 Indpls Gas Smal Plies here; un Jer tone e giendys | Yearling Wethers p ¥2| Ind Hydro, Elec. 7% vid. fgner Ya | indp fos . . Nat Life oe com i; 455 45 y J 143 $2 PaLou DL 13 11 NP 19% 19% Ind Pub Serv 5%% Th Py Jb. By s, ais 75@8; 450-550. — 2 EE 2 3 un 3 t S SOWS, oat : *Progress Laundry cei Too; Coalves none: OTHER LIVESTOCK Bier Mauch... 39 s2r+ {Nat Dapy Pub Serv Co of Ind 8% pfd.. 1 7 Nat Dep Dixie-Vortex NE, Feb. 8 xtreme 45 paid r choice to prime | Ibs. $8.15 1 0 Ibs. : 88 .en Nat Pwr&Lt 36:10. Yeariings, with ch but $8; bs., $7.75: 275- 300 .. $1.55; pe 63% : § Nat Steel as few loads at $10. iad se coming

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% 3 ‘Ind | T% i ele Newb hems Sh 2415 5 East Air Lines. 27% NS contial - 332 Eest Bat. § 5 Lor 305

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Tor eed lots; cho Pp b roughs, wy h : . Bh stags, $5. Calves, Sis. 50. Lambs, $10.25,

is. and vealers strong, a LOCAL PRODUCE g

due to acute scarcity and pai Ma 1s Ava .... 15 . nd. |. Heavy hens, l4c; Ho. 2 hens, 1lc: Leg- 3% ae seg . 6 To St : | horn hens, 9¢: No. 2 Leghorn hens, 6c; " & £ s ot 31% . ndp Slosing Swot LE 33 West: Barred and Vinite. sock broilers, 3 Ibs, Ead "goin of..ul, , "Ohi aT nd ern lambs 101 Ibs. Te 0. 2 broilers, 16c; Pare Buf |, cece | Otis Elev 1 16% 18% 16% .... .IKu § Thateas Grade A Jar e eggs. 17¢c; Ind 4 4 Morris 5&10 Stores 5s | Gre A medium e . Ie 1867 an nh Pajurdo Sug _.. 21 Sani sty > a. 3s — Muna Water Works 5s 65. T 3 , grade A and No. o oes. Joc; me Re a eg Mn&s 2 Quens i Glass 44% 44% Western ewes, $5 He 35; t lee’ a| atte: bu teint: No. ti k . no & 298: Pa a > 8. s, a stop, untr cku rice. 2 me shearing lambs, $9.7 P Wadley G3) oeuD Prices quoted by the an restone pf A

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Pac Am Fish... 8% Pac Coast 2 pf. 6% Pac G&El .

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U. S. Government Bonds U. 8. GOVERNMENT BONDS

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and Refinancing 20 MONTHS TO PAY

of ire Ol 51.1 #7 Wolf Sussman, Inc. Kad 0 3 43, 239 W. WASH ST. Radio -K-Or . : FITABLISHED 49 YFARN

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the State CO, Ine. 146 E. WASHINGTON ST.

Ordinary Expenses in Running a Business May Be Deducted

Deductions for business expenses form a large item in the return of many taxpayers and must have gertain qualities to be allowed. Such deduction must be for an-expénditure in connection with the . maintenance and operation of the taxpayer's business or business properties; it must be an ordinary expense and it must be a necessary expense. In insisting upon the latter qualifications, the Bureau of Internal Revenue is upheld by the Board of Tax Appeals and . the courts. Ordinary and necessary expenses are only those which are usual and essential in the case of similar taxpayers, “and do not include extraordinary and nonessential expenses.”

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amie usiness gehens hi 2 ercanidle establishment are amounts p or adve g, e of clerks and other employees, . rent, light, heat, water, stationery, stamps, telephone, EE BENET the we. gE a ? insurance, and delivery expenses. pt -180 180 The expenses of a manufacturing business include labor, sup- Bec Sug plies, repairs, light and heat, power, selling cost, administration, and || Bensstake, other similar charges. Hud Bay M&S. . The farmer may deduct all necessary expenses incurred in the ||Hiss oh aorer - production, harvesting, and marketing of crops, including labor, EE cost of seed and fertilizer used, cost of minor repairs to farm buildings (other than his dwelling), and small tools used up in the course of a year or two. A taxpayer conducting more than one business may glaim the business deductions of each.

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