Indianapolis Times, Indianapolis, Marion County, 11 February 1941 — Page 22
ie : TUESDAY, FEB. 11, 1941
BUSINESS
Indianapolis High ‘Schools Teaching
24 Hours
a Day to Help -Defense
By ROGER BUDROW
DEFENSE FACTORIES IN INDIANAPOLIS are de‘pending more and more on the public schools for training | the employees that will be needed when production gels in
full swing,
This was indicated ‘at the Chamber of Commerce
luncheon for Curtiss-Wright
aviation company’s propeller division here is expected to need 4000 workers by the spring of 1942. Already the pub-
lic schools’ defense training’ help train these workers.
Indianapolis’ schools, like some factories, are on a 24-hour-a-day basis now. After the usual classes are over in the a fternoon, classes begin for those trying to “prush up” or “refresh” their skills and get a better job. Theése “refreshers” are being given at ; Technical, Wash ngton, Boger Budrow Manual and ispus Attucks High Schools. - The U. S. Office of Education underwrites the expense. Teachers are, in most cases, engineers and highly skilled mechanics from the city’s biggest industries, such as Allison, Diamond . Chain, Link-Belt and others. There are 1000 in the classes now —classes which ldst six weeks. Instruction costs the “student” nothing. This defense training by the high schools is expected to get in high gear this summer when classrooms will be vacated by regular studernits. $8 9 FOR A TIME yesterday it looked as if there wouldn't be any trading in bonds on the New York Stock
Exchange. In the first three and one-half hours only one $1000 bond was sold, Wall Street veterans couldn’t remember any time when business was so bad.
- # x 8 TO TRANSPORT the . 307,000 embers of the U. S. armed forces
and CCC boys during January, the railroads made 633 separate routings of trains. ‘The Association of American Railroads said 132,080 men were
transported on 385 special trains |
while the remainder traveled on reg- ' ular ‘trains. : ® #2 = THE NATION'S principal mar- _ kets ‘will close tomorrow for Lin-|' ooln’s birthday holiday, will reopen Thursday. Next week also has a holiday for the markets—Washington’s birthday anniversary onj| Saturday. : ? 8 8 ?
officials yesterday. The. big
officials are ‘making plans to
PRICES ON HOGS
Weighing Between 200 And 210 Pounds.
HOG PRICE ‘RANGE Top 81 .. sranasvesisese esses hi ©
Eesugnian
ddd fk pd
Hog prices at Indianapolis stockyards today were 10 to 20 cents lower than yesterday's: bulk sales, 30 cents lower than the highest prices paid, the Agricultural Marketing ' Service reported.
weighing more than 220 pounds. The
steady to 50 cents higher with a top of $14. The Marketing Service reported 2640 salable cattle, 567 calves, T216 hogs and 2439 sheep were received.
HOGS .. Barrows snd Gills". Good to. Choice— 120- 140
secece0sceon,
. s we a1 +3:3:3-3:388 (0 11h
2» a
=A BD = ODN
8 HZ3SandndSa
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855852532 © 9999999999 -
wn ® ~1-3:300000000000-3
vecescssscsecs ss sneseetosnae
poun NAS cecsssvssesnsn 00- 450 pounds r 450-. 300 “pounds Mediu 250- 500 pounds Slaughter Pigs Medium ‘and Good— 90-.190 pounds
e0asmecscsnnre
ss09ecensvenee
‘Stiughter Caitle & Vealers (Receipts, 2640) © teers :
REDUCED HERES
$8.20 Top Paid For Porkers|
top today was $8.20 for hogs weigh- A ing 200 to 210 pounds,. Vealers were A
Aerial view of construction work on the new Curt shows the present plant in the background, the new orders, in the foregronnd,
NN. £ TOCKS.
High
Air Reduc .... Allied Mills . Am Airlines
The decline was made on hogs an
Am A
Am Anaconda Alonison a Atl C Li ae al Refining ‘
ald Loco ct ve.
Burroughs
Calumet & Fl... Capit Adm A .. Carriers & (Gen 3 Caterpillar T .. Cerro de Pasco. & Ohio .. 4
om Solve 9% ith Bai son 29 ‘Cons Cigar of. . 96% Cons Cons Cons Cons Corn Coty . Crane C Crane Co cy PI. 103 Curtiss Wr .... 8%
Low
—A-n
397 8 133 7
o 34% 10%, 81%
4| Year Ago
By UNITED PRESS
DOW-JONES STOCK. AVERAGES
30 INDUSTRIALS
C0000 RN Reta 124.19 essssccss 122.63
Yesterday .. Week Ago .. Month Ago ...
-—0.52 —0.04 -—h 81 oe -—0.06
High, 1941, 138.59; low, 122.63. Hah, 1940, 152. 80; low, 111.84,
20 RAILROADS Yesterday ...ccoeeccoccess 28.28 Week AZO ....cessssscnncece 28.00 Month AZO «c.ovesecse Year Ago High, 1941, 29.73; low, 27.94. High, 1940, 32.67; low, 22.)4,
15 UTILITIES Yesterday ,cc.ccoceveccacccce Week Ago .. .| Month Ago Year AO «ci..ceiveeas sass High, 1941, 20.65; low, 19.53. High, 1940, 26.45; low, 18.03.
19.89 19.66 20.54 24.99
cesseinsavesensy
sev esesssses snes
Net High Low Last Change 27Y —_ 80% Ya == Yi 23% eees 29%, 24Y,
Parke Davis ...
n R 23 Phelps Dodge .. Pullman
Pure Oil ... »
Ye i
Ys %
Scot tt Pap Sears Roebuck.. Servel 5 caine Sharp &
, D .... Shell Un Oil ..
Socony Vacuum
THE INDIANAPOLIS ES
Curtiss-Wright Expands at St. Louis
iss-Wright plant near the Lambert-St. Louis airport structure to be used for increased national defense
STOCKS DIP ON BALAN FEARS
Bethlehem Steel at Year's Low of $81; Trading Is Quiet.
NEW YORK, Feb. 11 (U, P.)— Stocks dropped fractions to more than a point in quiet pre-holiday dealings today when traders light~ened positions because of increasing uneasiness over ve Balkan situation. Bethléhem ‘Steel dropped 1% points to equal its 1941 bottom of 81 and U. S. Steel declined a point to 61%. Hercules Power, Ingersoll Rand, Allis’ Chalmers, Dow Chemical, J. C. Penney and Savage Arms were down 1 to 2 points, some to new -lows for the year. Associated Dry Goods first preferred broke 4 points to a new low at 81%.
A few issues cut down losses in|
mid-session trade. Chrysler was outstanding, holding around its previous close of 66, although General Motors, ex-dividend, eased % to 433. du Pont halved an early loss of more than a point and Douglas
‘1, | Aircraft recovered most of a fore-
noon drop of 1%. Losses other industrial
outnumbered gains in sections. Rails steadied at small losses and utilities
SEEKS SERVICE
AT EVANSVILLE
Boehne ‘Wants $7500 for
‘Farm Market Agency Division. Times Special
WASHINGTON, Feb, 11. —Rep.
tonholing members of = the House|: Commi
ttee to enlist their support for a $7500
Evansville, In asking an Appropriations SBub-
committee for this amount, Rep.
cited statistics to show that
four cities where. the livestock receipts were below that of Evansville
|in 1940.
The Evansville market absorbed 436,522 head of livestock of all kinds in 1940 while in. Boston the figure was but 233,055 and they do have the service there he pointed out. Other cities used for comparison were Montgomery, Ala., with 241,292 head; Nashville, Tenn, with 366,980, and Houston, Tex. 377,132.
In Evansville last year there were Wh head of cattle; 39,353 calves; 274,457 hogs, and 43,784 sheep and lambs marketed, Rep. Boehne told the committeemen. The Agriculture Department now maintains its marketing service in "| Indianapolis and Louisville, but will be glad to extend it to Evansville if the $7500 appropriation is made, they told the Evansville Congressman.
In a letter to Rep. Boehne, S. R.
Newell, assistant to the chief of thel
marketing service, explained the proposed setup as follows: «A market reporting office at Evansville would provide for the issuance of daily reports covering 3 pts, disposition, and prices on the Evansville market. This report would be made available immediately on the Evansville market and by mail to those producers who requested it. An effort would be made to further disseminate the information by radio and through the press.”
PRICES FOR WHEAT SET BACK SHARPLY
CHICAGO, Feb. 11 (U. P.).—General selling of wheat futures on the Board of Trade motivated by the heavy tone at Minneapolis, lower stock market and satisfactory new crop prospects caused a sharp setback in the market today with the deferred months down to new low ground on the crop. Losses ranged from % to 1% cents a bushel. Other grains ruled lower in sympathy with the bread cereal. At the end of the first hour, wheat was off 2 to 3% cents, May
8le. Corn was off % to 3% cents; oats unchanged to off 4 cent; rye
held around yesterday's last Se % to % cent, and soy beans off
Builders' Aid
C. O. Helmes today assumed his duties as executive secretary of ‘the Building Contractors Association of Marion County and the Indiana General Contractors Association, succeeding the late Gustav F. Hoppe.
MOFFATT HEADS CURB EXCHANGE
Former President Elected Chairman of Board Of Governors.
NEW YORK, Feb. 11" (U, P.). — Fred’ C. Moffatt, former president of the New York Curb Exchange, has been elected chairman of the new board of governors of the exchange, it was announced today. Elected .with the” board's new head, who will serys one year, were 10 others, including five Class A, or “member,” governors; four class B; or “partner,” governors, and one trustee of the gratuity fund, all to ‘serve three-year terms. The new
| officers were selected at the annual
election held yesterday. Mr. Moffatt served the Exchange as president for four successive terms from 1935 through 1938, prior to which he was vice president in 1934. He was a member of the board of governors from June, 1929, to February, 1939.
F. W. WOOLWORTH PROFITS DECLINE
NEW YORK, Feb. 11 (U. P).— F. W. Woolworth Co. and its Canadia subsidiary today reported 1940 net profit of $24,104,815 equal to
$2.48 a capital share compared with |5
$29,310,353 or $3.02 a share in 1939. Sales for the year in stores operated in the United States, Canada and Cuba amounted to $335,474,819, a record high and an increase of $16,635,156 over 1939,
AUTO INDUSTRY 70 USE 107.250
¥ Group Has One-Tenth of All
Defense Contracts, Steel Says.
CLEVELAND, Feb. 11 (U, P.) == The national defense program is “bringing a new era of expansion to the automotive industry,” the magazine Steel said today. “Ten per cent of all defense conw tracts are held by automobile and parts makers,” the trade publi¢a« tion stated. “Contracts totaling $1,« 400,000,000 with $500,000,000 more placed under verbal agreements, are held by this branch of American industry.” Fulfillment of these contracts, it added, “has proved the ability of the automotive industry to rise to the occasion in developing facilities and methods new to industry.” : The scheduled production of parts and sub-assemblies for 15 bombing planes a day to be built by the au= tomobile industry will call for 858,« 000 ‘man-hours of labor daily, the magazine said. On the basis of one eight-hour shift per day, it was figured, the program will require 107,250 men, or about one-quarter of total employment in the motor car industry, Illustrating the industry's new fas. cilities for. expansion purposes the periodical cited action of Chrysler Corp. in completing between Nov. 18 and Jan. 30 a 500 to 1380-foot building with 700,000 square feet of floor space, being forced to use a standard railway locomotive for heating the semi-finished plant while concrete floors were laid, and the Ford Motor Co. which used 900,000 square feet of fibre board to box-in its new $21,000,000 airplane engine plant during construction, the “box” permitting concrete pouring during winter weather as well as providing protection to worke men,
LOCAL ISSUES
The {Plows gutatiohs » the Indiane apolis Bond & not Li 3 sent actual price of offerings, but mere indicate the approximits market ove) based on buying and selling quotadens. recent transactions. Stocks Bid Agénts Finance Sor som. o Belt RR & Stk Yds com, Belt RR & SK Yds pfd Central Ind Pow 4.7% pfd.. Comwlith Loan 5% pfd Hook D
pls P& fndls P&L $94% | Indpls Water Lincoln Nat Life Ins com N Ind Pub Serv 5¥%2% N Ind Pub Serv 6% pfd . *N Ind Pub Serv 7% pid". *Progress Laundry com Pub Serv Co of Ind 8%
So Ind G&
ON PI
pa Sed ae
it CTY pt pt
oo Bab 88
Union Title Co com...,. denves 31 Van Camp Milk pfd Van Camp Milk COM: 1 reeves 13
Bonds American Loan 5s 51.
Consold F 0 Citizens ind Fe js 81 Hom ne 3lads: Crabb- Reynolds-Tay or 5s
The 1940 earnings, however, were | Home e oa a the smallest since 1932, partly in re- Assoc, Te! ,Co.3 flection of a .change in the com-tindpls Railway Inc 5s B87 pany’s accounting. system which |[24PlS o' Water Works ! eliminated its portion of undistribu-
with North American up % at 15%. % to 1 cent.
No. 1}
Chole. Deer & Co. .... Da lit avis am Pp 14.50| Doehler D Cast 23% ° , 14.50 | pouglas Airc . 2 68% 148% 148
ODDS AND ENDS: A Chicago Board of Trade commentator says So there is no need for AAA restric- iat
2% £1§13.43 14.00 2% Casnsensassss [email protected] coaseaseese 130 Boum 5 vrvveeeay 13:00
sssevessns
tion of corn planting (as has been suggested) because, with greater demand for meat and lard, highly profitable to feed corn to livestock. are “boosting their ‘production even more this month and next and while retail sales are holding “up well, it is not denied that stocks are being built up in case the factories are asked to make more armaments than cars. . . . Surplus Marketing Administration distributed $6,587,000 sworth of food under the stamp plan in December. . . . There are 26 million passenger cars and 4% million
trucks in this country, according to G
American Petroleum Institute. . . . ‘P? Russell T. Fisher, president of National Association of Cotton Manufacturers, says the prices for cotton cloth at present are not quite as high as.the condition of the market warrants but believes any increase “would only be moderate.”
OTHER LIVESTOCK
LAFAY Feb. 11 (U. P.) ~—H Se fazket steady ‘to 20 cents ‘lower; 160-200 [email protected]; 200-250 1bs., ito 858. 10; 0.325 1bs., [email protected]; pig do Calves, i 3B 12, 12. Ao: lambs, Sioa To. 25. PT, U.
2 —Hog! -220 ibs, $8.05: ov 3 85; 320-
-150 lbs. 36. 80: 120-130 1bs., $6.35, 5 1. $6.25; stags,
— og S— od . and
: 65; Mose @6.50; good’ packing sows, $6@6. 50. Castle Yeesls 500; caives—250; Jjmited number Hers around 635-765 10@ 10. odd ‘lots steers, .50@9 Jose fum 0 2s 380-755 lbs. $8. 5@9. 85° load good 1050-1b. steers, § other prices igher; cutter. and common cows, Mmoswuv 3 0@§6. 50; strongweight canners, $4.50@ lightweight shells “occasionally $3@4. Sheep—Rece pis, slaughter lamb rices steady; and choice wooled ambs. salable, $10.50: early. arrivals mostly ‘eli §ipped and choice grades ah ewes sishdy, medium and on wooled ewes, $2.50@3 30.
U. S. STATEMENT
WASHINGTON, Feb. 11 (U, P.).—Government expenses and receipts or the current fiscal year through Feb, 8, compared with a year ago: La
This Year Expenses ..$6, Oe ¥ 3. 24 $5. 707,4 eceipts .. ,996,309.00 2170, 3TOSS Det. 7,721,328.24 3.43 Net Def. 233,078.24 1,73 487,120.52 646,929.84 ,960,345.82 00,516,114.74
st Year 79,676.5
5.78
, 8.0 012,527.13 "913,
38.10 15
37.251 03 '220,655,447.21
G Customs ..
INDIANAPOLIS CLEARING HOUSE
it is| 1300-1
Automobile factoriés con
13.00 iz ny
300-1100 “pounds sessesstsices. - 1.80
_pounds vee 10:78
etree 10.
9.00
730-1100 und . PO 8 ee watasheiien 9°00
1100- -3308 pounds sesapavens 10 "
750-1100 | pounds... Steers, Heifers
500- 750 pounds ........ Cire [email protected]
‘Good— 500~ 750 pounds. ......... [email protected]
Heifers Chofce— 350. 900 DOUNAS oecsse.secss [email protected]
[email protected] 8.50@ 9.75 “7.00@ 8.50 7.25
Choice—
750- "900 pounds . Mee 900 “pounds .eseesccoses
pounds
Cn. 500- 900
sevesnscnssne
AYearlings excluded) Beef 7.25@ 8.00
1.256@ 17.75 6.15@ 7.25 6.00@ 6.75
4.00
Mediu, Cutter and common Tvs Good and -c
Feder and. Stocker Cattle Steers (Receipts, 567) 500~ 300 pounds . 300-1050 pounds 00 500- 800 pounds 800-1050 nounds 500-1000 ) pounds
Com 500- 900 ) pounds .
Calves teers) Good and choice— 5(10: pounds d6WR esc. cieeea
edium— 500 pounds down
; Calyes (heifers) Good and choice— 500 pounds down ...
00 ds down ; SHEEP, LAMBS (Receipts, 2439)
wn. | Chol
[email protected] [email protected]
8.25@ 8.75 7.500 8.25
son dbNELe 00, esscsssececsee
eso c00ss0nece
santo
[email protected] 8.50@ 9.75
evs cece
Lambs Good and Eholoe Medinm and 8090 mon
Yearl [rr ‘wh ear ing Wethers
Ewes .{ Good and choice
4.50
CHICAGO Se
Common ‘and medium, ........ 8.50
8.50 Int Agric 25| In
. $1 al. 73 Cc b 160001 5| Loft In
Elec Auto Li... 20% El~3 Music Ind. 7-16
Co.
amewell Py 20% 8
5 3 . 62%
1 11%
Gen Gillette Ys R see odrich pf aham- Paiie ..
Gr Greyhound Cp
Hollander 4: Son 7% Hudson Maotor.. 4
Inland Stl .... 5 4g Interchem pf..
82 24
nt. P&P rae 10 Int P&P ot... 61% Johns-Man
vous D8! Johns-M. Of ...
128
Kaufmanr. pf Kelsey-Hayes Kennecott Kinney Kress
..104 A 17
0 Ehoper G& B.
Lib McN #& 1... 6% Ligg & My of. 181, 3%
163 Loose-W B 5pf. 10874
Mathieson 2 + 26%
Monsanto Mont Ward MUrray .«. e.ee
Ne “Mining 27} N Y Certral ... 13% MEO. > 8 L pt 29% NY & H.. Va No Pani AC ec... 0%
Owens Ill Glass 44%
21Y, 12"
3 11%
Pac G & El.. Pacific Mills Packard sony Paramt Pict ...
aes s oes
JEL
29% 7-16
84%
2 ree 42 al; ; $a. 24%
8194
er Yen
582 ‘128
RK
104 1
16 108%2
44%
27% 12
3 11%
+ %
itty
KROGER POSTPONES PAYING DIVIDEND
CINGINNATI, Feb. 11 (U. P.).—
U S Steel ..... U S Steel pf ..
46,620. 74 761 1
“Olearings ......oeee Secasavaresrss $3,555,000 alo,
{Nill Dealers MHutual
FIRE-CASUALTY AUTOMOBILE
butchers: day's tra
at
Steel and
BO ae weak grade predomin nating; mostly [email protected] al few ons choice lorados held $14.
short a ghd dy
mises,
INLAND MARINE INSURAN CE for Careful Property Owners ULHRA ILE
Ar
‘Calumet Baking Powder
tablish a market; ‘most b [email protected] on fed up to around 100 lbs.; steady or up to $10.75 hd on strictly good (to choice grade; done early on lirhited supply, of ‘sheep. .Cattle—Receipts, 8500; Joa earlings sil choi
=10, | comm
de, not enough done early
ds 15@2 sli;
1200;
0icp grades relatively scarce; mediu lower;
and better; nothin or prime in run; increase
ce or ers; these also weak
medium @ll : Best.
HR mostly $13.50 oe.
“HOME OF THE BRAVE”
1:45 DAILY
'WFBM
Sponsored by
3
asking around htly Above
fed owe strictly a and average good k to 1
Falls Luett. ‘Tadianapolis: no capi stock polittal.
i ays praction) ' ob wel oo
-| Kroger Grocery & Baking Co. has o| notified its SE kEiohacs Sat the quarterly dividend on the common stock, heretofore paid on 4 March 1, will not ‘be paid on that ;| date because of tax ‘advantages
er! which will accrue through pay-
ment at a later date, A. H. Morrill,
| president, announced today.
Mr. Morrill said that directors have every intention of favorably
paymint of the common dividend in March.
Incorporations
Anthony Boulevard Presb Wayh Pa Tsote
Gldie sparger I Shy Kn Way: ie Towns hip
Church, Alerton
Inc. AT 8.
cal; Mrs, Nancy H. Norris. Mia. Tokk2im Oil Tank and P Pt. Wane, oan e ot agent to Harohy § J. °itampial a E. {J "State x. o , Pendleton: y 150, shares of $100 e fo ; Kinn H. Ki pa rd, Alired
ard, M ize M. hn Lawrence . San . Inc, 45565 Marcy t, Everett W. Car-
res s without par Everett ey Lawrence
Adah Julian.
BE ie Min . 0
a Tenn Corp 8! Thermoid bf Tri-Cont ..
Union B & P Union Carb
. . . ae ~
H+: THLE +
4 a
2 ERs 3
>a
. 62% 61% 128% 123% Wi
Va EI&P 6 pf...116% 116%
Warren Br .... Westing El .... 96 White Mot .... White Sew M-. Wilson & Co Woodward Iron 29% Worthington ... 20
oe Ye
Young Stl Dr .. 168'%2 16%
‘|DAILY PRICE INDEX
NEW YORK, Feb. 11 (U. P.).— Dun & Bradstreet’s daily weighted price index of 30 basic commodities, compiled for United Press (1930-32
‘| average equals 100):
Yesterday IEE RENEE EE EA RAE RN EN) 123.86 Week Ago 000000 BRNERINNTS 123.34 Month Ago G00 enbesNERNRNNS 124.06 Year ASO ..cecssesscssessess 118.36 1941 High (Jan, 9).ceeesesse 125.21
| 1941 Low (Feb. 4)..ce00ve.. 123.34
LOCAL PRODUCE
Heavy hens, Ue: No. 2 hens, LN Leg‘horn hens, 9c; 2 horn 6c; Barred and White: Rock broliers, ens: 1bs. and Jer; 19¢; No. 2 broilers, 16c¢c; roostrs Indiana Grade a large. eggs, 17¢: - diana Grade “A” divin Ros 15¢; In diana small Grade ean a No. 3 eggs, 34%%c;
12¢; Do 10 grade, Jia N 2 32 r—No. 0. 3 sale; Buttertat No. 0 30c; No, 3 3002 ountry picku, rices quo Wadley Co 3 PP ' y: the
FOOD PRICES
CHICAGO, ‘Feb. 11 Michigan. Jonathans. ery—Michigan toes Mexican sagt 2 Texas, bu. nia My an 35 nia crates $2.75 ’ Lettuce—California crates, $2403 : Sweet Potatoés—Tennessee, bu., @1.60. Onions (50-1b. sacks) —Tilinois Sm T5@9%0¢c; Wisconsin yellows, 65@80c; ‘Coloralo _ sweet Spanish,
FOREIGN EXCHANGE
NEW YORK, Feb. 11 (U. P.).—Following are noon cable rates on Jasior currencies:
Net Chg. Euglahd (dolar) 00% . Fahada ~+.00_1-16
consiciering the declaration and|F
Japan (yen) Mesicy (pote) sors LJ United States Tobacco Co. 1940 net profit after refunds of Federal taxes for prior years including interest thereon totaled $3,977,376 equal to $208 a common share vs $3,296, 153 or $1.76 in 1939, -
GUARANTEED
{VA 17 TLL Vb o Y Th TAY TY VE ay
FR Tied Ro RX on Everything! Dismands,, Watches,
ILL. tos, Cameras, - Clothing, ar Eta, EWELRY
»
LR » “
as’ are other taxpayers.
tax purposes. stantiate the deductions claimed.
Your Federal Inéome Tax
State Employees Must Pay Tax on Salaries but May Not Deduct Campaign Expenses.
All officers or employees of States, or political subdivisions thereof, or any agency or instrumentality of any one or more of the foregoing, are required to include in gross income, for Federal income-tax purposes, the compensation received by them during the year as such officers or employees. Retired officers and employees of States, and political subdivisions thereof, or any agency or instrumentality of any one or more of the foregoing, who received in 1940 pensions or retirement annuities based on the services rendered by them while in active service as such officers or employees, are required to include such pensions or annuities in gross income for Federal income-tax purposes. If the pension or annuity is paid in whole or in part from a fund derived from amounts deducted from the compensation of such officer or employees while in active service .the amounts so contributed are considered the “consideration paid” for the pension or annuity. The amount received by the retired officer or employee shall be included in gross income each year to the extent of 3 per cent of the “consideration paid,” the balance of the annuity payments being excluded in. determining gross income for that year. the aggregaté of the amounts thus excluded from gross income equals the “consideration paid,” the entire amount thereafter received as a pension or annuity must be included in gross income.
These taxpayers are entitled to the same deductions and credits Dues paid by teachers to professional societies, the price of their subscriptions to educational journals connected “with their profession, and traveling expenses, including railroad fares and meals and lodging, incurred in attending teachers’ conventions in the United States, if they are not reimburse for such expenses, are deductible from the compensation. received by them as teachers in determining net income for Federal incomeRecords of such expenditures should be kept to sub-
Campaign expenses and contributions made to political parties or organizations at any time are not deductible. tributions. received by a candidate for a public office are gifts, and not income, ‘so are not required to be included in the gross income for Federal income-tax purposes.
When
td » »
Campaign con-
ted income of the British subsidiary.
ADVERTISING GAINS OVER 1940 LEVEL
CHICAGO, Feb. 11 (U. P.).—Retail newspaper advertising in the week ended Feb. 1 increased 5.6 per cent over the level of the corresponding 1940 week, Advertising Age reported today. Volume of advertising placed by retailers in newspapers of 82 major cities in the latest week amounted to 17,089,919 lines compared with 16,178,363 a year earlier. For the year to date volume aggregated 83,656,515 lines against 82,178,363 a year ago, a gain of 1.8 per cent,
EXCHANGE SEAT SOLD °*
NEW YORK, Feb. 11 (U. P.).— Arrangements have been completed for sale of a New York Stock Exchange membership
low established earlier in the day yen a seat changed hands at
$28,000, up $2000 from the 42-year
Pub Tel Co 4,8 55 1 Richmopd Water Vis 5s . | Trac T C 58 §
| WAGON - WHEAT
Indianapolis grain Slevators Are DAY ing for No. 1 wheat, 79c: subject to: market chalige; oth E grades on their merits. C: ec. 3 white shelled corn, 57¢;
i i
Four volumes, 5000 pages, |” postpaid anywehere in the United States — §20.00
) JOSHUA B. POWERS, me. Publishers Representatives
220 East 42ud St New York City
MERIC SRR A
HIRT IHTHITIIS
Uj
Se
NEW IMPROVED SERVICE
FORT WAYNE
‘Via ANDERSON and MUNCIE With
MORE COMFORTABLE
A SOFT RECLINING CHAIR, AUTOMATICALLY REGULATED WARMTH
SAVE MONSY
11 Trips Daily to Fort Wayne
Enjoy the comfort and safety of these luxuriaus new streamlined
less of th traffic, Schedules are fast, frequent, deéndable . and the are is less than | if driving cost.
T Soo DEPEN DAB wis FREIGHT is
IN Errecy,