Indianapolis Times, Indianapolis, Marion County, 18 February 1941 — Page 9

Business Plastic Substitutes To Conserve Metals

w—— By ROGER BUDROW —— THE FAST-GROWING plastics industry will be invading the automobile field

more than ever now — and}

with the blessing of the Defense Commission. About 12 per cent of the country’s zinc production is used on automo-

biles. This metal is needed in rearmament, the Defense Commission says, and asks the automobile men if they can't find some substitute to use on their. cars. And that is where the plastics: step forward. Automobile makers have ‘been using plastics for several years now —in steering wheels, fittings and minor machinery parts such as pumps and casings for electrical equipment. Zinc is now used chiefly for “pright parts” on cars — die casting radiator grilles, headlight rings, door handles —which

are chrome or}

nickel plated for decorative purRoger Budrow poses and . for non - corrosive parts in carburetors and fuel pumps. Whether or not plastics can substitute for all these uses now is unanswerable at present. The idea is so new that it takes a little while for research and experiment. Fortunately, the plastics industry has made some big strides lately that will help. Extruded plastics, for example, which are squeezed out of presses like tooth paste in rods; tubes or ribbons, might be used as "trim for. the interior of automobiles or, woven together, for radiator grilles. Other uses are certain to be de‘veloped soon. . One cheerful aspect of the changeover to plastics is that there apparently is no short= age in them inasmuch as this country has plenty of the chemicals from which plastics are made.

” ” ”

THOUSANDS OF workers from ' Hawaiian sugar cane and pineapple plantations, canneries and refineries who had jobs only at some seasons of the year are now working full-time on U. S. Naval air bases and other defense facilities. This has brought on an un-

=== | American industry,” Business Week said. “These industries must supply

precedented business boom, accord- |

ing to J. A. Turner, construction “firm executive engaged in defense work there. Sidelight on this prosperity: On the island of Oahu, which has few adequate motor highways, traffic accidents are increasing rapidly because more cars are being bought and because many native car owners ‘are more concerned about getting places than they are about getting there safely,” Mr. Turner reports. #5 84 8 ; ODDS AND ENDS: Some states are having trouble in buying sheet steel for 1942 license plates because of heavy orders (defense, commercial) ahead of them, Steel magazine says. . . . American motorists have paid 10 million in gasoline taxes since 1919 when the first motor fuel tax was levied by Oregon, 8% million of which was collected by the states, American Petroleum Institute reports. . . . Business Branch Library here has subscribed to “U. S. Government Advertiser,” a weekly (Thursday) which gives detailed information on Government contracts so many library patrons have been asking for. . .. Spain is sending 74 ships to Argentina to carry wheat (about 500,000 tons) back to hungry Spain, according to trade reports. . Aeronca Aircraft at Middletown, O., making light private planes at a rate of 2000 a year, could be transformed overnight to make parts for |g - fighting planes but probably won't be asked to because of importance |r of civilian training ships, according

to Lee H. Smith, vice president in ind

charge of sales.

For MEN who “give a darn” about themselves -

A New Cream Deodorant which safely Stops Perspiration

1. Keeps under-arms dryfor 1 to 3 days AND prevents under- _ arm odor. 2. Saves shirts from odor, stains and rot caused by perspiration. 3. Takes but halfa minuteto use. 4. A pure, white, greaseless stainless cream which vanishes instantly. . * $a Arrid has been awarded the Approval Seal of the American Institute of Laundering tr being harmless to fabric. 28 MILLION jars of Arid ebeen sold. Try ajartoday!

39¢ ajar

Crabb-Reynolds-Tayior 5s 41 Home T&

stores and 10¢ stores

Studebake rs

a gear plant at Ft. Wayne and a

‘BIG 5' STATES MAY HOLD OWN

Magazine Discounts Trend To Decentralization Of Industry.

NEW YORK, Feb. 18 (U. P.).— The job of rearming America will fall principally upon the established industrial areas of the East and Mid-West, despite the steady trend toward decentralization of industries|4 during the past two decades, according to the current issue of Business Week.

defense demand for aircraft and shipping has accelerated .the shift of certain industries to new centers; particularly California, but asserted that the traditional ‘“heavygoods _ states”—New York, Pennsylvania, Illinois, Michigan and Ohio—are not likely to lose their industrial supremacy. “The heavy-goods -areas—steel, autos, machinery—are still. the basic big. markets, the heart of

the stuff out of which ships and planes and guns are made. After the war is over shipbuilding and airplane centers may lose their sales appeal. But places where the basic stu fis made will still have what it takes.” companies in the established inmanagement and labor as well as the necessary machines for defense production. Industries in the five big manufacturing states, it said, account for almost 45 per cent of all manufacturing wage earners, almost 50 per cent of all factory payrolls and over 48 per cent of the

The magazine sald that heavy |;

dustrial states already have skilled Sin

net value of manufacturing output | in the United States.

DAILY PRICE INDEX

To manufacture Wright airplane engines for the national defense program, the Studebaker Corp. is building a

parts factory at Chicago, main manufacturing and assembly

plant (above) at Seuth Bend, costing 50 million dollars altogether. The | one-story air-conditioned plant, with auxiliary industrial relations building on the left and powerhouse snd chiphouse on the right, will

cover about makes size

?HE INDIANAPOLIS TIMES | New Airplane Engine Factory

,000 square feet of floor space. Windowless construction the building deceptive in this drawing.

- The doorways

shown in the lower right-hand corner are each big enough to’ admit heavy duty trucks and the train shed in the upper right-hand. corner

will house a locomotive.

Crews are working day and night to be ready

for the first machinery shipment May 1.

N. Y. STOCKS

Net High Low Last Change —A— 578 Ya

| Adm EXp .... | Al Reduc .. dika, Juneau. Alice orp ... td chon ...14 A 45 Am Bank Note. 6% Am Haw SS ... 31 Am Inter nl Fwr&Lt s ri Rad & SS.. Ari Rpll Mill... 123% Ari €hip Build. 32% Ani Stl Pdies .. Arm T&T 159% Amt Tob B ..... Ara Type Pi Ami Woolen ... Ard Zing ...... Anaconda . Atghison oe .e | Refining “es

—3

5Ya 612 . 0% . 22% 21% 21%

Bild Loco Shes . Bait & Ohio Bay ‘ke ar Bro er Bendix Avn ...

Barg-Warner .. Bilyn & Q Budd Wheel Burroughs .....

Callahan Zinc « met & H.

ERS

— o

Eis

q ‘ea gas terpillar T .. Celanese Cent Viol Sug Certn-td 6 prpf Clies Corp ... Ches & G Hrysler Coca-Cola . Gol & Aik Qolym Gas ¢m In Tr cv Bi. 107% Comw & Si . Bg @bng-Nairn ... 17% inns Cig, pr pf 94 . 21% 3 ‘ 18Ya

10724 173% 9% 21% 18%

ons Edison. . ons a mt oil “Del

The magazine pointed out that g oo

ub Pi “Pub pr pf 33%, grurtiss-Wr .... 7% Davison Chem.. "7% Det Edison Douglas BS Airc...

Zlec Auto-L.... Klac Boat vise Exchange Buf.

ardo Sug. Fl Erase

27%

Ya oe 19% 127

sees

iCien Am Tr ... 50 Gien Electric .. 31% Gen Foods .... 3% Gen Motors... Gen ‘Motors pf. 12514 Gillette G imbel pf

NEW YORK, Feb. 18 (U. P.).— Dun & Bradstreet’s daily weighted | price index of 30 basic commod- | ities, compiled for - United Press, (1930-32 average equals 100). Yesterday .......cc.icoinsies 123.03 Week AZO ,...ciiisissesncen + 123.27) Month AZO ......see00000... 124.08 ¥eor Aso ........i 000i NO

1941 High (Jan. 9) ....ce.v.. 125:2% 1941 Low. (Feb. 17) ......... 123.03 ;

LOCAL ISSUES

The following ouotations by the Indian: apolis Bond & Share Corp. do aot repres| sent actual 8 ot offerings, but mere] 4 indicate the approximate market lev: based on buying and selling quotations a recent transactions. (EK

Bid | Ask

9 58 103: 161% 53

Stocks Agents Finance Som com. Belt RR & Stk com Belt RR_& Stk vas Central 14 Pow soot gomwih oon SE

Serv aa” To Sid. N Ind Pub Serv 6% pfd N Ind Pub Serv 1% Wi Progress Laundr Pub Serv Co of

.8% 01 Terre Hate Elec RK} id. Union Title Co % » "es i Van Camp Mik na ot Van Camp Milk com. Bonds American Loan 5s 51...

n 5s 50 zens Ind Tel 4%s 6: Wayne S%ess

Wayne 6s pls a8 pls Railway Ine 55 67 pls Water Co 3'%s 66 omo Water Packing

OOO

- DE CTPRIPROD IOS IRIS D

ner

Ya [rac Term Corp 5s 57

WAGON WHEAT

Indianapolis grain elevators are wap for 1 wheat 76¢c; subject to mark: I ne: other grades on their merits. ¢ ash gor new No. 4 white shelled corn, 56 No. 4 yellow sholled corn, 52c; No. 2 o nite oats, 32c.

"DO YOU WANT MORE PEP?

Is Your Liver Inactive . Making You Feel “Down?”

Jou should hi Haag’s Uiver Pills LL delay. ur liver isn’t secret. ing all the bile i Sho uld it is becaise the bile flow is not stimulated sufficiently to correct faulty elmination. Constipation Jesulez: d that “low” nepless fecling,

At drug 10¢ and 59¢ jars)

WA Bond and Share Corporation| |

129 EAST

MARKET STREET

“on Everything!

Diamonds, Watches, Autos, Cameras, A Clothing, Shotguns, ic.

| Marshal

11% | Nat Dairy

» | NYC&StL pf - 1

Goodrich G joodyear .. Goodyear pf ... 81 Graham- a "13. i it Nor 23

— Qi BDI LIL raw PRINS wai amo

ok pd pt £0

» 11 Gire oP ut 11% | Grumman Air E 13%

Holly Sug ..... 9, Bomestane 46 dud Bay M & S 162 upp Motor ... hid 54 . 24 « 55% 2a 2Ys

m Cenyral ees

nt T&T ihe ToT For ..

Jarvis Co ...... Johns Man ....

| gresge S8 sien

./Lee Rub es & Fink .. . 353% . 892

147% Lone Sher Cem. 37 =r

1 Fld

14 (Glenn) 237 23% 3Y% 3Ya T%

artim

nge fiam i Cop “a ission oop oe

92 iN

13Y, Bo 1274 25% 1%

13% Nat Distilers . 20% N_Y Central . Ve

N Y NH&H N Y NH&H pf..

Pan A Airways 134 Paraffihe pf . 1021 Par Pics. . 0% Para "Pict ivf. Para Pic 2 pf..

Rustless I&S, .

Savage Arms .. Seabd Air L... Servel Inc i Shell Un Oil ..

Transamerica : 30th Cent Fox.

Union Carb.. 1 Cal .

Hp 0800 a

LHL 4 +

Lean," kind a

he "

Van Raalte .

SOUTH AFRICA A Great American Market

is 2 merioe Was second only to SXPO! @ nion of South Africa. Now, ike the the esther Country, the Union is pod U. S. A. for greater ang erment stores - s applies for the gold es - war mate RETAIL MERCHANDISE ] Amesican jsousimer pro ucts - -Joods . cosmetics - pharmaceu - eve > purchased by od class American citizens - have a popular ‘in South Africa. SOUTH AFRICAN PUBLISHERS maintain an American Bureau for

the purpose of advising on their. || market, .

® JEWELRY . CoO, Ine,

By UNITED PRESS

. Yesterday .

. Yesterday

* | early 2 pecially broad and mild upturn on medium

* | England (pound) ..... s [Canada (dollar) . .

DOW-JONES, STOCK AVERAGES

30 INDUSTRIALS Yesterday 4.....%..000000..0 119.18 Week ABO J.vcsvssnsrsessess 120.61 Month Ago teeesssesasnense 128.20 Xear Ago ii... 00... wise 148.65 High, 1941, 133.59; low, 117.66, High, 1940, 152.80; low, 111.84,

20 RAILROADS

+0.63 -—1.58 —1.04 +0.19

Week Ago ......0v00e0se Month Ago ......... Year Ago High, 1941, 29.73; low, 26.54. High, 1940, 32.67!; low, 22.14.

15 UTILITIES Week AZO |..cerssnssisereny Month AZO ..ovecesscecscnes Year Ago High, 1941, 20.65; low, 18.85. High, 1940, 26.45; low, 18.03.

19.04 19.61 20.04

Net Last Change 1 20 3 20% ree : 1 Rit! 7 81 A . 91Y, s [28% . 5% 4Ys 178

High Low Wee Walgreen Walworth v Pa "El gp W Pa El § BF: West Auto Sup. Westing El .. Wheel Steel . White ck Mt White Sew Willys Gverin! Wilson & C Woolworth

10d; 133s age 133% 1 2512 Bea in a eens 174 Ts . 4% 4Y3 oe sess 309% 30% —yl Young Sheet .. 33% 33%

Ya "15

iN. Y, STOCKS HIGHER

IN LIGHT TRADING

NEW YORK, ‘Feb. 18 (U. P.).—

1,| Stocks pushed irregularly higher in

quiet dealings today after early easiness. With selling pressure light, prices moved slightly above yesterday's closings in most leading groups.

-,, | However, some high-priced issues

weakened 1 to 2 joints to new lows

| for the year and longer.

Bethlehem Steel held at 77, unchanged, and U. S. Steel at 58%, up %, both after opening at farctional losses. Santa Fe replaced an opening 2 point loss with a gain of a similar amount and other rails also were firm in reflection of favorable 1940 earnings reports and indications that carloadings advanced contraseasonally last week to a new high for the year. Du Pont replaced an initial 3% point loss with 1 point gain and Davidson Chemical ran up a point to 7%2. Merchants & Miners Transport was up a point and Pirelli of Italy jumped 8 points to 75. Best & Co. Coca-Cola, Allied Chemical and Savage Arms were down a point and more, several to new bottoms for the year and longer.

; CHICAGO LIVESTOCK

opened fairly ac-

Hogs—Recei 14,000; : r trade around

tive and 10@ 18° higher; la @10c lower than early; 180-240 lbs., $7.90@8. ers mostly $7.80@8; generally, $7. at AF 90; 400 1bs. down, 87 10@

Sop: $8.0; bul 240-370-1b. butch-270-330-1b. averages good packing sows, 7.35; 425-550-1b. kind mostly $6.75

Sheep—Receipts, 8000 late Monday: fat lambs closed active, mostly 15@250 A anes bulk good to choice 82-101-1b. fed Western, [email protected]; top. $10.85 freely to shipper. several loads 102-106-1b, averages 3 ; - few 95-1b. yearlings, $9; odd a slaughter ewes, $6 today’s trade, early trade on fat = Wry moderately active, around 10c higher; other lambs held for more advance; four loads goed to choice around 90-97-1b. fed Western lambs, $10.85; other good to choice handyweight lambs held to $11 and slightly above; two loads good to choice 112-1b. fed Colorados, calves,

$10.60; sheep very scarce. 1000; generally strong to

Cattle — Receipts, 5500; storm market; higher; steers showing least te heifers 15¢c higher, very scarce; cows 10@ 5¢ up; bulls mostly 25c higher on very item run; bulk steers unsold, however, medium grades 10@15¢c higher; spots up 10@15¢ on good to choice offering, bu mainly strong market on steers with instances 10@15c higher; choice and prime 1267-1b. Brag Aopned at $15.25; most sales, best

yearlings around $14.25; Bu demand

not es-

ood grade going on local account pai 4 er protest; most fed heifers, $9.50@ 11.35; cutter cows, $6 down; weighty sausage bulls to $8.25 and choice vealers to 314; spot cattle scarce at [email protected].

FOREIGN EXCHANGE

NEW YORX, Feb. 18 (U. P.).—Following are noon cable rates on major curienies:

Net Cable Rates Change 2: 4.03} .00?,

France (franc) .. Italy (lira) . Finiand (nrarkka) Switzerland (franc)

oe ces ence sees

Japan (yen) Mexico (peso)

FOOD PRICES

CHICAGO, Feb. 18 (U, P.). Apple Michifan Jonathans, bu., $1. 10@13 Celery—Michigan, squares, 80c@s1 5. Toma-toes-—Mexican, lugs, [email protected]. g TLE @85c. Caulifiower—California, 0@1. 60. Carrots — California, . [email protected]. Lettuce — California, $l. Lez 40. Sweet Potatoes—[email protected]. Onions (50-1b. tacke)—Illinols Yellows, 65@70c; Wisconsin Yellows, 72%c; Michigan ellows, 65@0c; Colorado Sweet Spanish, $1.40

2346 .2075

Incorporations

Central Petroleum Corp., amendment Ro FAY Valus capital stock

5000 s Col Thdemnity Insurance Amendment Jpcrensing 0,000 ‘founders shares and 40.000 hares of 10; par

VeNorth Side Laundry and Dry Cleaning Oo. Inc., 2929 Central Ave. Indianapolis: nt, Alex M. Corey, 3933 KE. 31st St., a anapolis: 100 es no ar i: Kix "st laundry and dry cleaning business: Corey, Alice Corey, John O. Bren-

Shelbyville; to

neliten Sounty Juniot Sasety League, In Allen Countz ho: Do Capital] ki to pr mote safely? Waite A Felger,

soe, Irvington Fliers, Fae x 637Indianapolis; no ne sited stock; i By parte in aviation: alter L. Stace, Nail

c ry Stores C Tor Delaware cor - Hon, certificate. of retirement of preferred

Columbus Mining Co., Delaware corporation; amendment of 8 articles of fncorpora-

Black, Sivalls & Bryson, Inc., Maine corporation: change of agent to LE . Jones, Rotherw Ave., vanavine, . Emmco ROTA amendment of articles “of ‘inicorporation.

TLC Raa

1S NLL

AT OUR USUAL

- Fad

0. OF C. REPORTS BUSINESS GAIN

Sales, . Employment Rise, Relief Rolls Decline . In January.

The business report for the first month of 1941 promises a prosperous year here with a decline in relief and WPA rolls and gains in sales and employment .despite seasonal slumps, according to the In-

dianapolis Chamber of Commerce. Indianapolis business in January, the reporc said, continued at levels generally well above those of a year ago, although there were some recessions from December figures. Total building permit valuations, at well over a million dollars, showed a large gain over January, 1940, and business and industrial construction valuation showed large increases for both the monthly and yearly periods.

g Clearings Increase

the highest in 10 years, while elec-

record.

per cent from December, it was 541.7 per cent above the total of a. year ago. Building and industrial permit valuation gained 123.2 per cent over the preceding snonth and 828.3 per cent over January, 1940. Industrial employment for the month dropped 1 per cent, ending a record steady increase for eight months. However, the 145 manufac- |€ turers upon which the report is

more workers in January than in the corresponding month a year ago. Payrolls were 52.7 per cent higher. The durable goods group showed 68.2 per cent increase in employment and 114 per cent in payrolls,

Retail Trade Over ’40

Center Township relief rolls de= clined 22.5 per cent and there were

than in January, 1940. Job insurance benefit payments. were 23.3 per

Be per cent less than in January, Seasonal declines in employment and payrolls were reported by firms engaged in retail trade and smaller declines were reported: by wholesale firms. However, both groups showed gains over January a year ago.

x MOVIE OF TURNPIKE

TO BE SHOWN HERE

A sound film of America’s newest super-highway — the. Pennsylvania Turnpike—will be shown at the meeting of the Indiana Society of Professional Engineers in the World

War Memorial at 8 p. m. Thursday. F. A. Henning, Portland. Cement Association field engineer, will discuss the 160-mile 70 million-dollar highway completed last year.

Distributor for Woodstock Named

Hiller Office Supply Co., 132 E. Washington St., has been appointed distributor in this vicinity for

Woodstock Typewriter Co. because of the closing of the typewriter company’s factory branch, Harry Haddock, formerly branch manager for Woodstock, will continue as district manager for Indiana and Ohio.

Quill Appointed By Pittman-Rice

Pittman-Rice Coal Co. today .an-

.|nounced the appointment of Hugh Quill, 1112 E. Market St., as branch|

manager of the new yard at 1012 E. New York St. formerly the E, H. s | Moorman Co.

U. S. STATEMENT

WASHINGTON, Feb. 18 (U. P.).—Government expenses and Jeceipls for the current fiscal year through Fen. 15, com pated xu a year ago: This Yea Last Yea Expenses ..$6,887,870, 991. 84 § 31.661,970.87 Receipts .. 3 503, 388,772.13 3.361,683,584.32 Gros PD Det. y

"HEAVIER HOES

Bank clearings+and debits were |< tric power consumption set another |

While building valuations fell 20.5 |Common—

based were employing 28 per cent |s,.q

37.1 per cent fewer men on WPA |<

cent greater than in December, but |.

toms ..

INDIANAPOLIS CLEARING HOUSE Clearings ... Debits

hens, 11c; LegLeghorn hens, Sct

um eggs, a and No. 2 ‘eggs,

Jae te : 32% @33c: ; +No." 2, 30 3lc. Butterfa iN 1, 29¢c; re wiSiuatry yep prices "quoted by the

XB SE

SELL CHEAPER

Weights Over 230 Pounds Slump 5 to 10 Cents; Top Is $8.25.

.HOG PRICE RANGE Top Receipts Shnesvelisarssones is SH0Y 6,870 ; 5,337

esssessseessessaeses 8. ’ 11,500 7,210 6,100 6,100 5.906 4,407 12,400 8,639

LIN hh

Feb. 18 Seecet serps esses

Heavier hogs were 10 cents lower in most sales today at the Indianapolis stockyards, the Agricultural Marketing, Service reported. | Hogs weighing less than 230 pounds sold at the same prices paid yesterday while heavier hogs sold 5 to 10 cents, chiefly the latter, be< low yesterday’s prices. The ‘top here was $8.50 for good and choice 200 to 210-pounders. The Marketing Service reported 1821 salable cattle, 488 calves, 8639 Hogs and 1743 sheep were received here today.

HOGS

Barrows and Gilts to Choice— 140

83 999

“ © 99-13000®0T

“eo es HSI 3an

: . ie -y =1 BB > oS SI)

D3 60 100 1s 1s 00 NSN OS I 9999 i

sees abo ae

80- 200 POUNAS +.veecrnsns

Packing Sows Good and Choi 270- 300 i 300- 330 pounds ... 330- 360 pounds Good— .360- 400 400- 450 pounds .. “450- oy pounds Medi

250- 500 pounds .

Slaughter Pigs

Medtum and Good— 90- 190 pounds

CATTLE

Slaughter Cattle & Vealers (Receipts, 1821) Steers

pounds

«+ 5.75@ 6.80

Ch 18 pounds .. 9 pouhds . 00 pound

pound

11 13( 5 ese

pounds ... Poginds - pourkis 1300- 130 pounds ..ecesssenss

diu 750-1100 pounds ,.eeceeveene 750-1100 pounds .eec.ce.e .

750-1100 pounds «c.eceeeevnn : Steers, Heifers C0750 pounds ....... cease [email protected] 500- 750 pounds. ... 9.15011.25 Heifers Choice 250. “300 POUNAS eesseessesss [email protected] T50- "900 pounds [email protected] 300-500 pounds 8.50@ 9.75

500- 900 ) pounds 7.00@ 8.50

tsetse

seesssssteces eesesssctee

edium Cutter and common . Canner

(Yearlings excluded) Beef— GOOd csvssocesesccnstssecee Sausage—

7.50@ 8.00

aie 7.50@ 8.75 Medium’ . 6.75@ 17.50 Cutter and common ... 6.00@ 6.75 Vealers

Good and choice Comon and medium ““*~ Feeder and Stocker Cattle Steers (Receipts, 488)

Choice— 500- 800 UNAS seoceocssccs. S10 00@10. 75 800-1050 Ponds [email protected]

on 800 pounds . [email protected] [email protected]

_80( +1050 nounds 00-1000 ) pounds 8.25@ 8.75 1.500 8.25

S00 stents ntan Com 500- 900 ) pounds

Calves (steers) Good and choice— 500 pounds down edium— 500 pounds down .. Calves (heifers)

Good and choice— 500 pounds dOWR .iecec.ee.

[email protected] Medium— 500 pounds down 7.50@ 9.00 SHEEP, LAMBS (Receipts, 1743)

Lambs

ese etPessenn,

[email protected] 8.50@ 9.76

e00qesstrave

Good and choice Medium and good Common

[email protected] 9.50@ 10.25 @ 9.25

Yearling Wethers

Good ind choice .00@ 9.50 Mediu: 8.00@ 9.00 Ewes (wooled) Good and choice 4.75@ 8.50 Common and medium ... 3.50@ 4.50

OTHER LIVESTOCK

WAYNE, Feb. 18 (U. gee Siaiv: 220-240 dbs., 38: 10; 180- 5206 HS ; 160-180 1bs., $7.9 20-240 1b Ib s., $7.85: 2 S., . of

130 1lbs., $6.40; ; roughs, $6.25; stags 5.35 C Gelves, $13.50. Fed Western hauls $10.

FAYETTE, ren. 1s vl P. 2 io Hog market steady to 10¢ $7.70; -2%0 be, $17. 835. io Oso 525 hes yds .10

Digs $7 n; Rouehs own; $12@13; Boy [email protected].

x gi

JOINS INSURANCE FIRM

NEW YORK, Feb. 18 (U. P.).—The appointment. of Stephen M. Foster as economic aclviser to the New York Life Insurance Co. was announced today by George L. Harrison, president of the firm.

nell] THIER Hutwal

FIRE-CASUALTY AUTOMOBILE INLAND MARINE INSURANCE for Careful Property Owners at Substantial Savings

Wa. 2456

(R11 (RA HHO A

HIB ITT RTTHTIU IRS

TUESDAY, FEB. 18,1941

No. 19

worthless either in whole or in

Taxpayers were given an option two methods. The method used

by the Commissioner of Internal effective. period of time.

one specific debt. ”

perity. It will depend primarily

Wheat Futures

Recover Losses

CHICAGO, Feb. 18 (U. P.).—September wheat futures dropped to new low ground on the crop for a short time on the Board of Trade today but later won back the losses with moderate gains. Other grains were mixed. The dip was .only %% to 3% cent. At the end of the first hour wheat was up % to % cent, May 7T8%c Corn was up % to off % cent; oats up % cent; rye up % to 1 cent, and soy beans off 1% to 3% cent,

‘RUBBER IMPORTS

RISE 38 PER GENT

BOSTON, Feb. 18 (U. P.).—A 38 per cent gain in U. S. rubber imports last year over 1937, the previous high year, contributed to the building of substantial reserve supplies to safeguard the national defense effort, United Business Service reported today. Record December imports of 98,000 tons brought total 1940 receipts of crude rubber to 818,000 tons. Though consumption attained a new peak of about 618,000 tons, an excess of imports over usage lifted domestic stocks by some 193,000 tons. On Jan, 1, total crude rubber inventories in this country stood at 318,000 toms, In addition, the volume of crude rubber afloat for the United States also expanded during the past year, with the year-end figure estimated at 146,000 tons. Thus visible stocks 0 of rubber amounted to around 0% 464,000 tons, equal to about eight months’ needs at current consuming rates.

$2,963,708,831.

tificates) exceeds one

Company.

| Liabilities and

their beneficiaries.

What constitutes a “reasonable addition” to a reserve for bad debts must be determined in the light of the facts, and will vary as between classes of business and with conditions of business pros-

Since 187 A in its seventy years of

practical service, the Sun Life of Canada has paid benefits totalling $1,389,808,553, “including $94,173,482 received by policyholders and beneficiaries during 1940.

Sun Life of Canada in the United States are $354,874,777 . , « American Policyholders are fully covered by permanent trust funds held within the United States for the sole protection of themselves and

Your Federal Hhcoine Tax

There Are Two Ways of Deducting Bad Debts

From Income Tax.

Bad debts constitute a considerable item in the returns of many taxpayers and may be treated in one of two ways—either by deduction from gross income in respect to debts ascertained to be

part and charged off, or by a

deduction. of a reasonable addition to-a reserve for bad debts,

for 1921 to select either of the in the return for 1921 must be

used in returns for subsequent years unless permission is granted .

Revenue to change to the other

method. Application to change must be made at least 30 days prior to the close of the taxable year .for which the change is to be [.. However, a taxpayer filing’ a first return for 1940 may |: select either of the two methods, subject to the approval of the Commissioner upon examination of the return. adopt the reserve method is limited to taxpayers having a large | number of accounts where credit is extended over a considerable It is not granted for the purpose of handling

Permission to |: ”

upon the total amount of debts

outstanding as of the close of the taxable year, those arising currently as well as those arising in prior taxable years, and the total amount of the existing reserve. tions upon outstanding debts prove to be more or less than estimated at the time of the creation of the existing reserve, the amounted of the excess of inadequacy in. the existing reserve should be reflected in the determination of the reasonable addition necessary in the taxable year. A taxpayer using the reserve method should show in his return the volume of charge sales (or other business transactions) for the year, and the percentage of the re- - serve to such amount, the total amount of notes and accounts receivable at the beginning and end of the taxable year, and the total amount of the debts ascertained to be worthless and charged against the reserve during the taxable year.

In case subsequent realiza-

-— -la er -~,

$1,210,000 STEEL. = PROGRAM FINISHED

PITTSBURGH, Feb. 18 (U, Pai The $1,270,000 modernization prow. gram at its Follansbee, W. Va., plang has been virtually completed by thw::* Follansbee Steel Corp. with two ofL% the three new mills now in operas. bs

tion and the third to receive trial + runs shortly, it was announced toe - day. Two of the new four-high mills ~ = are for the cold reduction of hot “- . rolled strip to sheet and tin plate. guages. Installation of the new cold’: strip mills has made possible the des.’ velopment of an improved Sov pipe product by Follansbee's subw=sidiary, the Sheet Metal Specialty: Co. At the corporation’s Toronto, C plant, new electric annealing fur#= naces were placed in operation this-« week, increasing by 50 per cent. thew. company’s annealing capacity for! high grade, low core loss electrioal”, steel sheets. Some of the excess open hearth capacity at the Toronto plant ise being utilized for the production of=: < special alloy steels. The company: recently booked orders for RoE than 20,000 tons of semi- finisheds= alloy steel to be delivered as ingotsge blooms and billets and sheet bars, . ga

KROGER PAYS DIVIDEND iu CINCINNATI, Feb. 18 (U. P.) mm... Directors of Kroger Grocery & Bakes ing Co. have declared a quarterly. dividend of 50 cents a share on the’ common stock, payable March 17, to . stockholders of record Feb, 28. Last year the company paid 60 cents - Dec. 12, 50 cents each Sept. 3 and < June 1 and 40 cents Mach 1.

METIS

$169,508,809 OF NEW ASSURANCES were issued during the year increasing the total of assurance protection to the amount of » . « THE NUMBER OF POLICIES now in force (including Group Cer-

million, two hundred

thousand. . . . TOTAL ASSETS now stand at $948,067,304, the highest in the history of the

Policies are issued in United States currency and are payable in the same currency at any of the 42 Sun Life Branch Offices from coast to coast . « » New Assurances in the United States during 1940 amounted to $76,489,800, increasing Assurances in Force to $1,312,976,093

: vr

LeraLBALRAY

Other Funds of the

$y, eddy dé

PEN AY

For complete Annual Report apply to

— wa

ll Assures SECURITY FOR OVER

ONE

W. H. ATTEBERRY,

Branch Manager Third Floor, 129 E. Market St. Bldg.

UN LIFE.

REA