Indianapolis Times, Indianapolis, Marion County, 26 February 1941 — Page 8

PAGE 8

BUSINESS

Indiana’s Farm Income Increased 11 Per Cent During the Past Year

By ROGER BUDROW

: INDIANA’S FARMERS ARE DOING BETTER, judging from the Agriculture Department’s annual report. Farm income in this state last year was the highest in four years

—$306,725,000. That includes Government payments.

Of this amount, about 75 million came from crops, 210 million from livestock and its products and nearly 23 million

from the Government.

Corn is still king of Indiana's crops by a wide margin, the report Farmers about

shows. received 22 million dol-

lars from corn

last year compared with about 141; lion from wheat, All grains together .brought in around - 4012 million dollars. The state’s tobacco crop was worth nearly Roger Budrow two. million while its potato crop was .valued at 11% million. Truck crops enriched the farmer by nearly nine million dollars while the fruit crops brought in a little more than two million dollars. The national farm income was slightly more than nine billion dollars. All of the states in this area showed an improvement over the previous year but Indiana’s was the largest gain—11 per cent. Ohio’s was the smallest—5 per cent. Government payments fell 16 per cent for the region as a whole but payments in Indiana and Michigan weré slightly larger than a year earlier. #2. nn = J.D. ADAMS Manufacturing Co.'s tax bill went up more last year than its profits did, the annual report reveals. The same thing happened in a good many corporations who are paying heavy defense taxes. The Indianapolis company made $340,585 profit last year compared with $276,713 the year before, an increase of $63,872. Its tax bill last ‘year was $209,783 compared with $143,272 the year before, an increase of $66,511. » ” ” IN THE LAST HALF of 1940, 164 companies with assets of $63,800,000 and debts of $53,200,000 were made the subject of reorganization proceedings under the Amended Bankruptey Act, according to SEC. Manufacturing, real estate and mer‘chandising companies led in the number of bankruptcies with 58, 29 and 24 respectively. ” zn ODDS AND ENDS: Several New York restaurants are now serving cuts from beef roasts, grown and cooked in Argentina, shipped to United States under refrigeration. It must meet a 6c-per-pound tariff. « « . N. Y. Stock Exchange is asking members if broker commissions (in effect since January, 1938) should be raised. . . . One factor stimulating building expansion has been the upward tendency of rents, according to Alexander Hamilton Institute. . . . Because real homes are not built yet, trailers will be used at Government defense construction projects and bids on $6,000,000 worth of trailers will be opened by the Government March 1. . . . United Air Lines expects to buy about 15 million gallons of gasoline this year. « » . Australia’s wheat surplus this year is not expected to exceed 20 million bushels compared with a normal surplus of 100 million bush=els. Dry growing season is blamed. . . Brazil, Peru and AngloEgyptian Sudan exports of cotton have increased because of bigger sales to Canada and Orient, N. Y. _ Cotton Exchange reports.

AIR TRAVEL GAINS DESPITE WEATHER

CHICAGO, Feb. 26: (U, P.).—Col. #dgar S. Gorrell, president of the Air Transport Association, an- © nounced today revenue passenger t miles flown by domestic airlines ‘during January were 25 per cent . over those for the same period in 1940, despite cancellation of many flights because of bad weather. He predicted February figures would exceed the 69,042,939 passenger miles of January and a further increase in March when airlines adopt the travel credit plan, “There has been no lack of the necessary spare parts and supplies and only a small percentage of air- , line personnel has been called into military service,” he said.

JU. S. STATEMENT

GTON, Toy 26 (U. P.).—Govea] expens and receipts for the current fiscal ee, through Feb. 24, compared with a year ago:

> es ast Yea Expenses ML 30%: 323. 42 $8. ols 165, 162. 25 Receipts. 0.236. 5,172,539.27 Gross def. 58 2,652.9. Net def..

2,389.3 1,675,450,366 4. 42,345,443, 18,128,990, 233,433,

Customs. INDIANAPOLIS CLEARING os, 55,000

COMMODITY SEAT SOLD NEW YORK, Feb. 26 (U. P.)—A membership on the Commodity Exchange, Inc. today was reported sold for $600, up $100 from the last previous transaction.

‘For Investment

NORTHERN INDIANA PUBLIC SERVICE GO.

Preferred Stocks

NEWTON TODD

Lemcke Bldg. LI-6222 Established 1887

mil- |

U. 5. IMPORTS

RAW SILK

DECEMBER 1940

DECEMBER 1939

NOVEMBER 1940

~ 00000 ¢ gooa9 9 JO0040 4440

EACH SYMBOL EQUALS 750,000 POUNDS

Ration Nickel

NEW YORK, Feb. 26 (U. P.). —Rationing of strategicmetals was extended to nickel today with the announcement

Canada, Ltd, that British, Canadian and United States defense orders will be given right of way over all civilian requirements. The company holds a virtual monopoly on the world’s nickel supplies, so that its decision to restrict civilian usage would be fully as effective as a ‘formal Government order.

by International Nickel Co, of ||

With the situation in the Far

November, 1940.

East becoming as strained as the

| threads in a silk stocking bent at the knee, the falling off of U. S. raw silk imports from Japan is significant. Figures from Department of Commerce show silk imports for December, 1940, were below those for same month the year before and a third less than imports for

Net Last Change

% Ya Ya 1 “ru Ye

High Low w— Allegh Lud Stl. 21% Allied Stores . | Allis-Chal {lam Airlines .. Am Bx Note pf 45 Am Ca 87Y2 Am can ? oo 262 Am Crys S

+ of

BOOM GAINS IN TRISTATE AREA

Indiana, Illinois, Wisconsin Share $700,000,000 In Defense Work.

mills along Lake Michigan's south - ern shore are shooting flames into the winter night skies and factoreis in the metropolitan area are moving

at full speed—this area’s answer to the nation’s demand for arms, ships, munitions and supplies. Since the German panzer divi« sions broke through along the Aisne-Oise line in early summer, more than 700 million dollars has been spent in Illinois, Indiana and Wisconsin to help make the United States “the great arsenal for democracy.” Millions more are being ear marked daily for artillery ammunition, airplane engine parts, shirts, gloves, and dental equipment. Even the Vienna-style sausage industry has been stimulated. Statisticians and state officials said indices of production, employ ment, wages and construction in the tri-state area are rising daily but added that it was impossible {0 credit defense-spending for speding portions of indice rises.

Only in Initial Phase “Defense spending is only begin«

“The initial phase of plant enlarge« ment and tooling up is merely under way.” The U. S. Federal Reserve Bank, in a summation of business conditions, said the “volume of business (for the bank’s district) has con tinued to advance, in some phases to new all-time highs.” “The heavy industries are pusliing production levels to maximum capacity,” the report said. “With the level of wage-earner income now at post-depression peaks, rétail trade this season has been uiiusually good . .

in Army contracts have been placed with industrialists of the thiee states, $35,000,000 in Naval orders

Works and Federal Security Agency orders. During the summer the majority of contracts were awarded for production goods and construction. The drive was to build and enlarge ‘production facilities.

tries first showed effects] of spending program. ployment records, slump in relief

followed. Retail Trade Affected

Only within the last-few months have the effects of defense spe:iding sifted through the district's economic structure and been felt

keepers and shoe men. An outstanding factor in connection with the contracts has |B been the wide range of orders filled |E by business men of this section, Two of the largest defense pr ojects, however, are directly concerned

of war. Nearly $60,000,000 has been allocated for construction of a powder plant and ammunition loading center near Wilmington, Ill, and a $33,000,000 order recently was award-

3 ed the Studebaker Corp., for manu-

facture of airplane engines. Some indications of increased in-

05.85 dustrial activity and economic pros-

perity include: 1. Placements in private industry of hitherto unemployed citizens by the Illinois state department of

found in December alone. 2.:Additions to plants and factories in the Chicago industrial area, including northern Indiana, during 1940 totaled $122,000,000 with more than $15,000,000 spent within 30 days. 3. In Chicago 13,347 families left relief rolls during 1940. 4. Building permit valuationi in Illinois were 22.9 per cent higher in 1940 than in 1939, with many sharp

tors. 5. “Boom towns” have developed near Army training and production centers.

WAGON WHEAT sori anapolls gx grain ley are vayvin

eat 5 to mirke change; Reiner grades on their merits, ts. Cash n; new No. 4 white Sheliey corn. 7c; new No. 4 yellow shell 8c;

2 white oats. 330,

The CHI

LOANS

on Everything!

Diamonds, Watches, Autos, Cameras, Clothing, Shotguns, Eis.

CHICAGO, Feb. 26 (U. P.).—Steel!

‘| Gen

ning to be felt,” one official said. |Ge

. Loe Since July more than $2173,000,000

and scattered millions in Fede:!al|May

Production in the heavy Inaus- Fai A rise in em-|X 1S

figures and larger payroll totals|N

by retail tradesmen--grocers, bar- Bar 3

with the production of implements| Radio

labor were 165,950, with 16,893 jobs

gains registered in industrial sec-|

f 82 AmLP Bor sont 3 {Am-Haw S 8 .. 32% Am Loco i Rad & SS Smelt Puger MN ve &

T ob B Cee m Wate: W . Bo da Armour Ill 2 FArmour Il pr ‘pf sik [Atchison 3% Atchison pf . Atlas Corp .. Aviat Corp Its. .

“ Am + 5 E7 | am Am Am

Ya % 1-16 a Barnsdl all

. 347s Beth Stee 80 Va Black & Decker 18% Blaw-Knox .... 8% Boeing | Air .... Brown Shoe ... Budd Mig

{callahan Zinc. . iCalumet & H .. 6% Cater Pinar T .. 46 Celote 9 Certain-td ‘6 ‘pr 28 Ches & Ohio .. 41% onl Pr. Tool cv 38 Chrysler TYa Cleve Hl Im pf.111 Climax Moly Co ne Colgate-P-P Col & Aik .. : 280 Colum Gas .... Com Credit .. 30 Comwith & So..11-16 Comwlth Edison 28% Cong-Nairn ... 18% Cons Aircraft.. 264s Cons Cigar . 3Ys Cons Cig pr pf 931 Cons Copprnms Cons Milm Container Cont Bak B Cont 4, Cont. . Son oy Steel. . Curtiss-Wr .... Curtiss-Wr A..

1% 1,

8 26Y2

Davison Chem.. 7 Del = Hud, : 10% Boos Airc... 41h Duques L pf...116 afl Bast Alr Jes 28 27%, Eaton .« 312 31¥; Elec JL 30% 30Y Eng P 8 5.50 of 72 72

Fe ; . 20% 20% 36 14% 14%

—G— 32% 35Y%2

[+++]

‘Fed Dep St.. First N_Strs.. Foster, Wheel . .

32% 35%

5% 137%

5 1%

ie +14 4424

Electric .. Gen Foods .. Gen Gi Gen

Grumman Air El Guant Sug ....

Hecker Prod . Hershey pf . Homestake .. Howe Sound . Hupp Motor ...

6% 100% . 45% ’e 3214 7-16 Ill Central . Int Harvester Int Ni

uC Keystone Stl .. 12%2 12% 1% 35%;

wc Y po Leh Val RR.. 17% 25

L-O-F' Glass . i: 35% Lockiead Airc... 25% 32Y2 32% 16%

18% Ye: 14%

Lorillard

Marshall Fld .. artin (Glenn) 2614 Martin Parry .

DS Modan Corp ... McCrory

Motor Murray 6% i Ne Va 8% 3

1 T%

6% Nat Acme ..... Nat Aviation .. Nat Dairy Nae

No Pacific ee...

ghio Oil seeene

nibus .. ate Elev | cess Otis Steel cecee

Ya 16%

16% 82

Pac Coast 9 pf. £8Y Pacific Ltg Ne acka 2 5:18 15 18

Re 22 3-32 ©. 36% 36% Pirell 74 4 Pitts Stl 5 pf.. 35 Press Stl Car.. 10%

35 10%

4 51% 57Y4

ary, an increase of $46,000,000 over

to higher livestock prices. Livestock sales brought farmers a January income of $434,000,000, an increase of $55,000,000 over the same month of last year.

Smaller marketings of hogs was more than offset by sharply higner prices. Both marketings of cattle and prices were higher, and lamb sales likewise increased.

“Cash income from livestock sales and livestock products during the next few months of 1941 is expected to continue to show substantial increases over the corresponding Biontps of last year,” the Bureau seid.

Cash income from crops and from Government benefit payments were slightly smaller than a year earlier.

No.| Farmers received $229,000,000 from

the sale of crops compared with $238,000,000 in January of last year. CGrovernment benefit payments declined $126,000,000 to “$87,000,000 Total farm income, including Government payments, in Jantiary was $750,000,000, compared with $743,000,000 in January, 1940, the Bureau reported. The decline in income from crops was attributed to

C JEWELRY CO, Inc. ON ST,

the smaller amount of corn $OINE | Lien into Gov ; loan and lower

High , | Reading 2 . Rem Rand wm: 4 | Republic Stl .

oe 4 **y. | Sears Roebuck .

| On gaem sees 45

121U 5 Rubber .

‘174 | Ho

3 ® | Ing

~ N. Y. STOCKS

By UNITED PRESS

DOW-JONES STOCK AVERAGES 30 INDUSTRIALS +0.91 —1.04 —2.60 +0.39

Month ARO ......coccn. aeeea Year Ago High, 1941, 133.59; Low, 117.66. High, 1940, 152.80; Low, 111.84. 20 RAILROADS Yesterday .. . Week Ago .... Month Age .. 28.72 Year Ago 30.53 High, 1941, 29.73; Low, 26.54. High, 1940, 32.67; Low, 22.14.

15 UTILITIES Jeijerday Week Ago

Month Ago Year Ago High, 1941, 20.65; Low, 18.81. High, 1940, 26.45; Low, 18.03.

27.43 26.56

Net Last Change 21%, nang 1s

Vg Ya

Reyn Tob B .. Rustless I&St . 11

Savage Arms 41,

72%,

HHH:

34% BR . + 353% 35% 34% 34%

Un Pacific Un Pac pf .... Un Aircraft ... 39 Un Air Lines ..

Union Carb ...

Un G . U 5 Hoftman p

4+: HH RY HELE Hi

U S Steel

«a. sin “eo.

Worta ov pr pf 8 —Y Yellow Tr

14Ys 14Y% Young Sheet ...

14% 353% 35% 353%

LOCAL ISSUES

The following Jotaions by the Indian-

ased on buying and sellin eu 2 f recent transactions. 8 R Quotations ¢ Bid Ask

Stocks Agents Finance Corp com... T% 9 Belt 5 58° 104%;

02! Home Tek pK Wayne 7% pid fi a) § nd 4° Mich Eleq oy be : ec Gen Serv Se pid y pls Gas Hydro “Elec

ng LNG n nd nd

*Terre Haute Eee” oF 6 Ba fd.. Union Title Co com . % Did. Van Camp 1 1k p Van Samp Milk 2a . Bonds Bl v.uiee 46 ... 43s’ 61 .. 1 Bs.

FOOD PRICES

CHICAGO, Feb. 26 w, Michigan, Jonathans, bu., ery—Michigan, squares toes—Mexican, lugs, —Texas, bu., T5c fornia crates, fornia cra .50. Sweet Potatoes —Tennessee, bu., [email protected]. Onjons 501b. sacks)—Tllinois Yellows, 50@ isconsin Yellows, 65@70c; Michixen OG elioms,

FOREIGN EXCHANGE|}

NEW YORK, Feb. 26 (U. P.).—Followare noon cable rates on major curet Chg.

Farm Income Rising Toward New Post-Depression High

‘WASHINGTON, Feb. 26 (U, P.) ward what Bureau of Agricultural Post-depression high in prosperity this year. Farmers marketed $663,000,000 worth of crops and livestock in Janu-

~—Farm income is rising sharply toEconomics experts predict will be a

January, 1

Virtually all of the January increase, the Bureau reported, was due

The Bureau said income from the sale of corps may be slightly smaller during the first part of 1941 than 1940. But higher prices for the 1941 crop are expected to boost total farm income to the highest point since start of the depression. “Return from vegetables may not differ greatly from those in 1940, as prospective increases in income

set by the lower income from potatoes,” the Bureau said. “Income from fruits is expected to continue larger than in 1940. “It appears probable that the decline in Government payments and in income from crops will only partly offset the prospective increase in returns from livestock products, and that cash income in the first half of 1941 will be higher than in the Same period of 1940,” the economists said.

Check Itching First Application

fs hed worm of Blaple eczema Rash, PPLI ATION of

" THE INDIANAPOLIS TIMES

U. S. Silk Imports Drop

Good and Clioics—

Ya |G

. | most 240-270 1bs.,

+++ onl * | cattle scarce, [email protected].

from truck crops may be about off- |

PRICES ON HOGS RISE 10 CENTS

Top Advances to $8.05 Here As Receipts Slump To 6702.

HOG PRICE RANGE Top ..$8.40 8.30 . 8.25 . 8.20 esses 8.00

seeevesessentetine . 8.10

sesesssasccsssesees 8.00

Receipts 5,906 4,407 12,400 8,639 6,758 5.677 10,083 1.500 9,225 10,050 6,702

seseet tests an

es essssscensssnen secsscsccncssrsee

cetscsabrantene

All weights and classes of hogs recovered 10 .cents of yesterday's losses in trading the Indianapolis stockyards today, according to the Agricultural Marketing Service. Heavier hogs remained at relatively low price levels despite the dime advance, the marketing service said, because the outlet for such materjal continued draggy. The top here today was $8.05 for good and choice 210 to 220-pound-ers. Bulk of the early sales of 160 to 240-pound hogs were made from $7.80 to $8.05, buyers getting most of the 240 to 260-pounders from $7.55 to $7.70.

HOGS

Barrows and Gilts Good to Choice— 120- 140

“eo oo

23 21=3-3230000 00 = 3 =] > SoH eRe QUIOoOVLOOULOO

Packing Sows

$7.00@ 6. 3k

—

300- 330 Joo. 360

pounds ...

pounds ... pounds ...... 450- 500 pounds . Mediu

ium-— : 250- 500 pounds .....¢e.00.v. Slaughter Pigs

Medium and Good— 90- 190 pounds

CATTLE Slaughter Cattle & Vealers (Receipts, 1386)

004d — 360- 400 400- 450

u ) oo aon 3-3 o mw aan S

ice

) 3 pounds -1100 d

00 pounds : pounds «ee.

oes . 2.50 seesecneriens 10.308 13:30

[email protected] [email protected]

7.75@ 8.75

dium 750- 1100 pounds Li 00.1500 ) pounds on

50-1100 © pounds Steers, Heifers

Choice—

500- 750

pounds ood— 500- 750

pounds

[email protected] [email protected]

Choice— 3h 900 =o. a0 Medi - "gb ) pounds .

mmo Goo 900 pounds

pounds ...e.ece0eses [email protected] [email protected] 8.25@ 9.75

7.00@ 8.25

pounds ..ecescencees vate veres

7.50@ 8.50 5300 7.5

7.65@ 8.00 7.50@ 8.00 7.00

Feeder and Stocker Cattle Steers (Receipts, 602)

pounds 800-1050 pounds ...

Good— 500- 800 pounds .. 1050 Pounds Medi 500-1000 pounds 500- 900 pounds Calves (steers) Good and choice— 2 Pounds down 500 pounds down Calves (heifers) Good and choice— 500 pounds down .. [email protected] edium— 500 pounds down 9.50@ 9.25 SHEEP, LAMBS (Receipts, 619)

, Lambs Good and choice Medium and good Comm

8.25@ 9.00 7.50@ 8.25

[email protected] [email protected]

[email protected] [email protected] 8.00@ 9.5

Yearling Wethers goad and choice

Ewes (wooled)

Good and c¢

Common hs ee dui 3.50@ 5.00

CHICAGO LIVESTOCK

Hogs—Receipts, 11,000; slow, steady to 10 cents higher; 38. 05 05 sparingly; bulk good and cholic 180_ 7.900", 90;

Byers es oa [email protected]; g00 1b. king sows, $6.75@"7; lighta 2 weights hts 5p to $7.20; Aan heavies, Cattie—Receipts, 7000; calves, 700; fed steers and yearlings slow, steady; both local and outside demand narrow; Tbriggeq receipts failed to stimulate the trade; largely steer and heifer run; heifers in larger ind aa) than Tuesday; most fed Shesrs An ality and ain to 3, Png 2.50; with Jit tle ghove $13.5

Darlings and light steers beter action than we ghtv kind [email protected]; heifers steady to weak; Ny scarce and steady to Swrong; : bulls full Steady’ Joealers stead weak; most a 0; best so Baro, heif10.7 Lows, 8; with cutdow he ausa, bulls eh ealers. V310@12. with inds as high as $13; stock but moderately ' active at

eep—] 3000; late Tuesday; fat lambs closin cents higher than Monday nendywelghts, $11; bulk Sood and choice 94-101-1b. es, $10.85@11; weight $10.40; fat sheep steady; Western ewes, $6.50; slow; few ear sales Daaavveign: 15 to 25 cents high aoa best early, $11.25; fat s

OTHER LivesTOoE

SaNCT TNNATL, Feb. Ao. (U.

ReceiDis 3

.8 $1@7. 28: 100-140 iy most good packing

SOW. Catt rl fi ao, total 550: = calves—

200: few heifers, '¢ $8@9, 50: part 150d 785 1b, heifers and few 1110-1b. steers, $9.75; load lot [good heifers, $10. 25; vealers steady; good

and choice, s2@13, Sheep—50. Fat lambs mostly steady, guality considered. Small lot Jreod and choice up to $11; few culls and commo lambs, [email protected]; good 112-1b. weights, $0: sheep scarce, steady.

Reb. 26_(U.. P.)':—Ho $7. 30; 180-200 $7.70; 220-240 $7.35; 6.85; $6.75. $6.85; $6.35; 5

$5.85. $13;

Yous: fed Roughe, 56: $i. 25@10, LAFAYETTE, Feb. 26 (U. P.).—Hogs— Kode 75: ‘3 Th "20-358 si is sty: id a sagvhi toushe.

DOWNTOWN BUILDING!

Next door to The Times ® Convenient Location ® 12,000 Square Feet ® Lease or Rent to Suit ® Office—Storeroom— Warehouse— Manufacturing

224 W. Maryland St.

Your Federal

a capital expenditure; if used for

tax law.

either for business or pleasure. deductions may be taken for the rage rent, and other necessary

life, also is deductible. »

otherwise; and the amount paid used for business purposes.

Cost of Operating Automobile But Not Cost of Buying It May Be Deducted

With the number of automobile owners registering in the millions, the question of deductions for the cost of operation and maintenance of a motor car frequently arises. The purchase price of an automobile, whether it is to be used for business or pleasure, cannot be deducted from gross income. If used for business, it is

iture—both deductions being expressly prohibited by the income-

Several deductions, however, are allowable in connection with the cost of maintenance and operation of an automobile, . used

Depreciation based on the cost of the car and ts estimated useful

Other deductible items are as follows: taxable year for registration fees, personal property tax and municipal taxes; interest on money borrowed for the purchase of a motorcar. either for business or for pleasure of damage while car is being used for business, provided such loss is not covered by insurance or otherwise; damages paid for injuries to another, provided that the car was being used for business at the time, and the damage was not covered by insurance or

Income Tax

pleasure, it is a personal expend-

If used exclusively for business, cost of gasoline, oil, repairs, gaoperation and upkeep expenses.

» Sums paid during the .

loss sustained by reason

for insurance on motor vehicles

STOCKS FIRM IN LIGHT VOLUME

Bethlehem Steel Under Pressure Because of Strike Threat.

NEW YORK, Feb. 26 (U. P.).— Stocks developed firmness in afternoon trading only after early irregularity. Volume was light. The list opened irregularly higher and then declined from the tops with Bethlehem Steel weak because of a strike threat. However, pressure eased and Bethlehem showed a small net gain before the end of the third hour. U. S. Steel also came back from a small decline, Iron Age, steel trade jouranl, stated that at the rate of steel orders coming in, steel companies may be entirely sold out for the year by May .1. Shipbuildnig issues were strong

0! with American up more than 2

points and Bath Iron Works up a point. American Air Lines was up a point. Remington Rand made a new high in further response to recent favorable dividend action. Automobile issues recovered early losses and Chrysler had a small net gain. Coppers firmed. Rails were firm.

PRIGES ON GRAINS MOVE NARROWLY

CHICAGO, Feb. 26 (U. P.. Wheat futures on the Board of Trade moved within a narrow range in early dealings with prices little changed from the preceding close.

0| Other grains ruled barely steady.

At the end of the first hour, wheat was unchanged to up % cent, May 83 cents. Corn was off 's cent; oats off 1% to % cent; rye unchanged to up % cent and soy beans off to 3% cent.

FACTORY SALES OF AUTOS AT NEW HIGH

WASHINGTON, Feb. 26 (U. P.). —The U. S. Department of Commerce reported today that the automobile industry’s factory sales in January rose to a new high since May, 1937, at 500931 units, compared with 483,567 in December and 432,279 in January of last year. January sales included 411, 258 passenger cars and 89,673 commercial cars, trucks and road trac-

0| tors.

‘KENNETH DAMERON

TO SPEAK TOMORROW

sheep 5 1

and | membership

Kenneth Dameron of Columbus, , will discuss advertising and selling in the defense program at

5@8; | the luncheon meeting of the Ini| dianapolis Better Business Bureau

and Indianapolis Advertising Club tomorrow at the Indianapolis Athletic. ‘Club.

DAILY PRICE INDEX

NEW YORK, Feb. 26 (U. P). — Dun & Bradstreet’s daily weighted price index of 30 basic commodities, compiled for United Press (1930-32 average equals 100): VOSterday :......c.oeensseses 12439 Week 920 .ceecoesivssasronsss 123.62 Month ago sess ssesssscsnconed 123.39 NEAT S80 ....cc.eosrrirrnsses 11944 1941 High (Jan. 9) ......e000 125.21 1941 Low (Feb. 17) .......... 123.03

LOCAL PRODUCE

ft re hy Ty e: colore on e an nd. Barred Rocks, 9. Soloed breeds, 5S '& oeks, as A me s—Grade Tr - divs 13c; Gr ade A small Ry No. 2 lic; 2v030; No. 2 30%@ — late.

3. 0. {Gountey, igi] prices ‘quoted by the ¢|{Fogmt 0.)

COTTON SEAT SOLD

NEW YORK, Feb..26 (U. P.)—A on the New York Cotton Exchange was reported sold today for $3900, up $200 from the last previous transaction.

| WHOS ARCHIE?

Tune in 1230 on your dial at 8:30 next Saturday

night, March | for the answer

Sell Five Curb

Seats for Dues

NEW YORK, Feb. 26 (U. P.).— Governors of the New York Curb Exchange have ordered the sale of five memberships for failure to meet current dues charges, it was announced here today. Three of the seats involved belong to suspended traders and two are held by the estates of deceased exchange members. All will be disposed of at the discretion of the board. The suspended members are Clement J. Derrick, Frank E. Snow and Eugene J. Mitchell, while the estates are those of the late Walter P. oo Oafiray and Grafton F. mith.

WAR BOOM STILL GAINING IN CANADA

MONTREAL, Feb. 26 (U. P.).— Canada’s war boom still is gaining momentum, the Bank of Montreal said today, reporting that unem-

ployment in the dominion virtually has been eliminated, that existing armament and raw materials plants are running at full capacity and that new munitions factories are coming into production each month. Discussing the effect of war demand on Canadian business and industry, the bank asserted that greater manufacturing activity has been reflected in a widespread increase in purchasing power with a corresponding gain in retail trade and general business, although the program of industrial expansion has not yet been completed. “The shipbuilding yards continue very busy and the lumber mills, particularly in British Columbia, are well supplied with orders,” the bank said, adding that the industrial boom in the United States is creating greater demand for Canadian raw materials.

N. Y. STOCK EXCHANGE

NEW YORK, Feb. 26 (U. P.. Further progress in the New York Stock Exchange's program of disposing of unneeded real estate was disclosed today with the announcement that the exchange has sold a nine-story office building at 39 Broad Street to the Public National Bank & Trust Co. It was understood that the Exchange received a cash payment of $400,000 for the building. The Exchange has owned the building since 1933, through its real estate subsidiary, and was said to be anxious to get rid of it because of high carrying charges involved. Iti has been estimated that 1941 carrying charges and maintenance costs alone would run to about $63,000.

ASS

nited States Government NY Ie

Hirst Mortgage Preferred Stocks. .. City Property

" Real Estate Farm Froperty

Deferred

Reserves lor Protection of Policyholders....

Reserves for ; I ursed Us

® Enduring financial strength is revealed in a perusal of our Fiftythird Annual Statement. Continued adherence to the Comy's traditional policy of Safety Joys adios Thus, the strongest al requirements established for tained. Liquidity adequate yield is achieved by a well diversified investment port. folio. All assets are valued at the est conservative standards. rations in the Field and B= are managed with the strictest economy consistent with

adequate service to our policyholders. The success of this pro-

00 G6 GB +9 + on in

PROPERTY IS SOLD 3

WEDNESDAY, FEB. %, 1041

RESERVE LOANS INCREASE AGAIN

Commercial, Agricultural, Industrial Borrowing At 44 Million.

WASHINGTON, Feb. 26 (U. P.).— Total loans and investments of Federal Reserve member banks.in 101 leading cities rose $133,000,000 in the week ended Feb. 19 to a further record high of $26,381,000,000, according to the weekly condition statement issued by the system today. Investment holdings accounted

for $87,000,000 of the week's increase, ' while outstanding loans were up $46,000,000. Commercial, industrial and agricultural loans continued their upward trend for the 21st consecutive week, rising $44,000,000 to a new record of $5,217,000,000. New York City member banks made up $22,000,000 of the gain. Loans to brokers and dealers, however, were down $4,000,000 at New York and $6,000,000 at all reporting centers. The New York banks reduced their holdings of U. S. Government direct obligations by $3,000,000 in the latest week, but all reporting banks showed a net addition of

folio of Governments. Holdings of Government-guaranteed funds declined $3,000,000 at New York and $5,000,000 at all centers, while .investments in other securities were up $20,000,000 at the New York banks and $54,000,000 at ail reporting institutions. Demand deposits - adjusted rose $176,000,000 to a total of $23,157,000,000, with New York oanks accounting for $89,000,000 of the rise, while deposits credited to domestic banks were increased $29,000,000 at New York and $109,000,000 at all centers, the latter reporting a combined total of $9,151,000,000.

RETAIL SALES SHOW 13 PER CENT GAIN

WASHINGTON, Feb. 26 (U, P.). —The Commerce Department today reported that sales of 23,354 independent retail stores in 34

but showed the normal seasonal decline of 37 per cent under December. , Dollar volume last month was reported at $207,649,547. The January gain over 1940 was larger than the year-to-year im provement in any month in 1940,

Incorporations

som ansville 7-Op Corp., Evansville, dislu Muacie Credit Exchange, Inc., Rose Court Bldz., Muncie: agent, Maurice F. Fisher, 207° Rose Couri, Muncie; 1000 shares no par value; credit bureau; MauLeek J. Kenneth Foster, George

ome Owners Construction Corp., 432 Insurance Bldg., Indianapolis; real estate business: Edwin Boswell, Robert i Hurst, josephine Hurst: agent,” Edwin Boswsll, 432 Insurance Bldg., Indianapol 000. shares no par value. WFAM, Inc 303%. Ho hm man Av mond; ge. "Robert roe Ave., Hammond; Soo shares of $100 e; general commercial broadcasting business; Olney E. Richardson, Robe: . Gibbs Spring, Fred L. Ad

Hohman - Ave., Simon M. Leopold, shares no par value; loan and investment business; Charles Levin, S. M. Leopold G. H. Leopold. Price & Price Inc., 318 Ferry St., Law fayette: a James R. Price, same address; 100 ire of $20 par value; insurance agency and real estate and rental business; R. Price, Roberta L. Price, George F, Price. The Indiana Roadside Council, Claypool Hotel, Indianapolis; no capital stock; to to promote scenic roadside beauty, safet usefulness of hig ways: T, gone Bailey. Mrs. Calvin Perdue, Mrs. Raymond Johantge: Northern Indiana iy for Crippled u

Children, Inc. Rc h name by decree of St. Joseph County Societ for Crippled nitdren. Inc. The Schiff Ohio corporation, amendment of ticles of incorporation. Riverside Arena Corp., Indianapolis, final dissolution, Pfister Corn Co., Delaware corporation, admitted to Indiana to sell and distribute at retail and wholesale hybrid seed corn. Meadors & Allen, Inc., Salem; Shange of agent to Ray M. Allen.’ Pekin, A Tractor-Trailer Safety Bim Inc.,

rice F. Fisher,

same address; °

Bonds. Pio Mocpage Loans oa City Prope

La Yara Property. . 006 ou mt Be Sut ut Sut Got B00

vo eon he a a ten wn oe we on 3 158, Premiums pin Interest Paid in Tr $e ti fo tt a Sr mt me ew tingency

Securities Capital and SUIPIuS. coc eoe oo oo co 0 00 0 00 us. 00 00 Sue 00 0 00 00 0 0 ne TOTAL LIABILITIES. ... 01 v0 ee oo oe oe os oe me oun ome 0 0 0 on 0 0 on oa § 188,772,252.4 1

INCREASE IN ASSETS—$7,877,198.67 INCREASE IN INSURANCE—$54,879,062.00 TOTAL INSURANCE—$993,552,639.00

South Bend; change of street address to 1723 8. Main St., uth Bend,

THE WESTERN AND SOUTHERN

LIFE INSURANCE COMPANY

Ge Fu WILLIAMS, PRESIDENT - W. J WILLIAMS, FIELD VICK. PRESIDENT

FINANCIAL STATEMENT

DECEMBER 31, 1340

ETS

Bonds. see ow mo mo) 451508150

* Gve ve UD Bub BND SHO BD BND Se SB

« uh ud Gud Sun Sub SNE Sub GuD Sub Gut Gp GD Sub Gh Bb GD ub GD GB BB SB Sn Bn 4000 oun Bub Gus Sun Bum Gu 0 Gu Bub Bu 0 G0 610 G0 Sus ub Bub 60 0 0 0 Et 5:0 00 8 T0 Sub uD Su Sub Sub Sub up Sub Su Sul Bud Bb 0

ce “ee a rv a et a a ore oe aes ro Cash Depositi Banks, o.oo om eo oie on ot 0 00 00 00 00 0 00 00 00 0 - oR Premiums... ee co co on 0s oo 0s 00 0 oo od Interest on Investments, ...... as ee ae co oo v0 os 0 00 00 00 00 00 TOTAL ADMITTED ASSETS. ...ccc0 cn on on oe om oe om 0 oo 00 oe oe 00 oe $ 188,772,252. 4 1

LIABILITIES

, 788.46 18858 843.70 3, 1 18.99 27,787,480.73

S80 0 ve we we = cesses ve me

am makes it possible cle 1 the Utmost Value

mium Rates for all A insurance. The investment and actices which have e ; estern and Southern to attain iis Eat position. of eminence will Y thiully Squlizued as will the Compan: 3 Practios of passing on to our policyholders the benefits accruing therefrom. pledge we

NOW ...OVER A BILLION DOLLARS INSURANCE IN FORCE

COMMERCIAL WHOLE LIFE POLICY-~MINIMUM POLICY $5,000 GUARANTEED PREMIUM RATES PER "ae. :

H. J. HAVENS, Manager 515-520 The Guaranty Bldg. 8S. W. Cor. Meridian St. and Monument, Circle :

pA Ay

states in January rose 13 per cent, over the corresponding 1940 month.

$38,000,000 to their combined port- =