Indianapolis Times, Indianapolis, Marion County, 4 March 1941 — Page 20

.§ average or two above normal during

BUSINESS HERE CONTINUES TO

RELIEF Rol ROLLS GROW SMALLER

Summary Discloses Extent Of Improvement in -Local Industry.

By ROGER BUDROW

Business is on the upgrade in Indianapolis, as can be seen by a ' glance at the Indianapolis Times’ Business Summary which makes its fogs weekly appearance on this page ay. &

More persons 'are obtaining jobs, building is far ahead of last year, most of the utilities in the city show gains over last year and Center Township's relief rolls are growing smaller. These facts can be ascertained from the Summary itself. But there are other factors in business. Very important among these, and one too often overlooked in business summaries, is the weather. Average ' temperature in Indianapolis last J week was 29 degrees, 5 degrees below normal, compared with a 36-degree

the same week a year ago. Only 07 of an inch—ef precipitation fell in Indianapolis last week, which is .59 of an inch below normal. Last week a year ago precipitation here was .69 of an inch. : The sun shone here 48 per cent of : the daylight hours last week compared with 26 per cent of the time last week a year ago, according tp the Indianapolis Weather Bureau.

- Lent ‘Bearish’ Factor

The beginning of Lent, with its customary curtailment of meat consumption, was a mildly bearish factor in last week's livestock trade here. However, the improved industrial situation provided enough support to hold prices well above the corresponding week a year ago. Steers and yearlings were weak to 25 cents lower but prices of $12 to $12.75 compared with $10 to $10.50 paid last year. Heifer prices changed little last week and were $1 to $2 over a year ago, cows 75 cents to $i higher and bulls $1 higher. Hog prices were irregular last week, the lower prices being paid for lightweight hogs being largely offset by a higher price being paid for the heavier hogs which have been selling at relatively low rates. Nevertheless, all weights were considerably above the similar week last year, the price range of $6.85 to $8.15 on 160 to 400-pound hogs comparing with $4.65 to $5.65 last year. : Seasonally the market is in a strong position for the next several weeks, although there is a “ceiling” to the market as lard is so plentiful. The public is buying lamb meat in good quantities. This and the fact that wool prices are higher now helped lambs to sell as high as $11.15. Late in the week most of the better lambs sold between $10.75 to $11 compared with $9.75 to $10.15 a year ago.

Changes in grain prices amounted, se

in most cases, to a fraction of a Sanit : J. Brass Firm to Build

elt On fhe industrial front here Gemtral 1a Bt

the week's biggest news was the War Department announcement that Bridgeport Brass Co. will build an $11,500,000 factory to make shell cases, Factory location was not an-

nouriced, was rumored to be outside a is

the city, somewhere between Speedway and Flackville. Other industrial news included Indianapolis Power & Light Co.’s report showing a $3,204,926 profit last year and Citizens Gas & Coke Utility report showing a $551,856 profit for 1940, highest since the City took over the company in 1035. Center Township Trustee Henry Mueller reported there were 4785 relief cases at the end of February and that $71,462 was spent on direct . relief during the month. This is

Indianapolis Business Summary

Bank Clearings......ccovceecetvenees. Bank Debits sesovensencepiellieot Applied for JobS......ecc0eceiboneens Obtained JobS........oooivvvvdheis Claimed Jobless Benefits (Feb, 2) .. Railroad Freight Carloadings Inbound Outbound Building Permits. ,voeesccecceciscocas Houses CLE 00 RNR 000 00000 NRE Apartments Business Industrial Public mssvesvesdesihonne Electricity Output, Whore theron Water Pumpage, gallons Street Car Passengers (Feb. 22)...... Telephones In Use (Feb. 27).... Post Office Receipts. ....oovv0cionseie Livestock Receipts. ......coiccienions

sescersepronntescnatrens 9000000000000 000c0sl0br00e

eecssccbencegsone cdholtienns

cseseececcharesisedenne i

Last Week $25,196,000 .$65,031,000 856 405 2,951

3,690

1,920 $81,800

0 ii” .

$6,7 100 13 ,376,000

. 217,520,000 222,900,000

1,345,442

$107,662 | 56,118

$16,091,000 $44,318,000

Sto Es Agents Finance Co._ Inc.

Hook Dru Hi nd | Tar

Cattle Calves Hogs

eee (EERE RAR REE REE RA

Corn Wheat

vesnereereete Tree

STOCKS RALLY IN QUIET N. Y. TRADE

NEW YORK, March 4 (U. P).Stocks rallied in quiet dealings to-

situation. American Telephone spurted 13. to 162 in reflection of its 1940 report showing earnings at a new record. American Airlines, American Woolen preferred, International Paper preferred and Loft gained a point and more. N. Y, Air Brake ran up 2 points. U. S. Steel moved up % to 57. Motor leaders had gains ranging to 3% point in Chrysler. Rubbers moved up with U. 8. Rubber gain. ing almost a point. International

point gain

BOND & SHARE CORP. BUYS WAYNE BONDS

sues forward with 3% 81%. .

The trustee and advisory board of G

Wayne Township, Marion County,|% yesterday sold $30,276.48 civil towne

turing semi-annually from July 1, 1942, to and including Jan. 1, 1852.

was the successful bidder, paying par and accrued interest plus a premium of $184 for bonds bearing 1% per cent coupon, There were seven other bidders with interest rates ranging from 1% % to 2%.

100A. aii

Bid ts Fi Co. Inc., p om. 0" ents Finance Co, inc., or RR & Stk _¥ds com... tk Yds pid ow 4. 7

Comwlth Loan 3% 2

«oe Ea wk = ORRIN Codie -

SEEF EL

Ind TORIess Laund com. Pub Serv Co o ho ub Sery Co of Ind pd 0 d G&L 4.8%

American Americal Consol Fin 5s § {usens. Tod Tel a%

s Home Ft Wayne 5'%s rabb.g yaolds Taylor 5s FHT T Ft ne

considerably less than the 7150 cases | [nqpls B&

at the end of February last year and the expenditure of $114,025.

U. S..Government Bonds|¥

WASHINGTON, March 4 (U. P.).—Government expenses and receipts for the current fiscal vear \itough March 1, compared with a .year. 320:

his Yea Last Expenses . 87, 415, 848, 420. at $6,173, 02.458 34

224, ‘993, 417.38 sodieni g

INDIANAPOLIS S CLEARING HOUSE

Clearings $3,984,000 Debits 8.716,000

. LOCAL PRODUCE

eavy breed colored hens, 14c: No. 2 olore hens, llc; oR hens, llc; Legfn ens, 10c; 2: Leghorn’ hens, Tp: broilers, 3 1bs. So. over, *loc: white and Barred Rock, 19¢; colored breeds. Be;

1¢. gs—Girade A ‘large, 15¢: Grade A 13c; Grade small ‘and No. 2,

vy. 13¢ tat S21. 33¢: No. 2, 0%e EB utterfat—No. 1, 30c: No. 2, 2c. Fogntry, oP prices quoted by the 'adley - Co.

Incorporations

Evansville Aviation, Inc. ., Evansville; dis-

He Muir Co., Ohio corporation: 1 Shange ~ of agent to Joseph Smith, 811 8 Muncie, and filing of articles of © amend-

e! & Woman's Rotary Club, of Evansville, Spon amendment of articles of inFat I’ Soy a Co.. Inc. Wayne; regsaipation of trade-mark, Fe ster Mix,” class 45: Foods and ingredients of foods. Auburn Hotel Corp., Auburn; articles | b accepting Jriaisions of General Corpora | tion Act o 250 shares common and 600 shares preferred of $100 par value.

Pub Serv 3% N ind Pub on 3%s 6 : el 4'as 85 Bub b Servo of nd 4s 69

Pub 48 55 Rone Water Uke > 87. Trac. Term Corp 5 8

OTHER LIVESTOCK

} 3500, Gotal Alt: s top, $8.15 for : PE uate P lal Ibs. $6.85 718 100-8: ; most good packing |B:

5 slo heifers

uoted msg

limited

; Rood and

on Sale, 16 considered salable . sheep scarce, steady. rr. WAYNE, March 4 (U. Hogs» Steady to Ma ents higher: 390: ‘240 bs., 7.95; 280-22 3%0- 200 1bs., 7.75; 160- 120 Joe 7. 65; 40-260 bs. 7 65; 350-280 ha: 8 35; 280- 300 1bs., $7.10; 325-350 1bs., $6.90; 350.

300-2 325 1 20 be a bE 10.3%: bots $0 ey

Western Pode FOREIGN EXCHANGE

YO March 4 (U. P.).—FolWL are noon cable rates on major currencies: cps . 84.08%, 8

511-16 % Taos: 10 0000%

Toe. " 3. 10; ds. fo $475 1%. eaves. ‘$1

able

Eng land (pound) . Cana a a ees France ral Tas coanse

witzer and ba ny na)

(HA Dealers RITTTTTHIA

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

FOREIGN ORDERS through American Buying Agencies

Price $10.00. Write today for de scriptive folder and SoiogJor dst

220 Fast 42nd St, New York City

Sheep .... oy BY Grain Racelpus, resissssenee nisi. Oats leslie)

cosa

day despite the confused Balkan|4

ft ttt or aagagay

Mercantile Marine led shipping is-|Z

ship judgment funding bonds ma-|&9

Indianapolis Bond & Share Corp. |E

SEF

6,405 3,111 41,275 5,985 1,026,000 845,000 48,000 128,000 2,000 3,000

Week Last Week Before A Year Ago $19,892,000 $48,156,000 633

275 4,829

2.974 1,807 $13,229 $12,000 0

716 357 2,904

3,307 1,887 $91,800 Ln

$22,000 $2,500 0 $58,229 13,219,000 11,697,000 204,600,000 1,374,935 ° 1,280,546 101,642 $81,322 64,550 6,434 2.43% 45,025 10,6854 346,000 248,000 11,000 84,000

0 3,000

$107,491 58,301 6,922 2,885 44,375 4,119 589,000 456,000 41,000 78,000 2,000 12,000

Sources of above figures: Indianapolis Clearing House Association, Indianapolis office of State. tion Division, New York Central Railroad, Pennsylvania, Baltimore & Ohio. Illinois Central, Chicago, ville (Monon), New. York, Chicago & St. Louis (Nickel Plate), City Building Commissioner: Indianapolis Power & Light Co. Indianapolis Water Co., Indianapolis Railways, Indiang Bell Telephone Co., Agricultural Marketing Service; Indianapo of Trade, Center Township Trustee, Indianunpolis Postoffice,

N. Y. STOCKS

a Low

Re ha 8tl .

”

2 rr

Armour Armsirong ck.. Aviation C Rts.

Bendix Avan ....

Borg Bullard

Calterpilalr T . Ches & Ohio .

mwith & So. Comlth Faison ox . Curtiss-Wr ..

Desde & Co.. oma Mines. . Doulas Aire. .

Rlec Auto-L...

Gen Electric . gsi

Werdh pi Green H FF. Hal (Her rod .

Ill Central . Int Nickel

oe & Spi

Jewel ea

Leh V Coal . L-O-F Glass . Ish McN & L.

lk 8t Ry pr of larshall [arin (Glen 2 ‘anzel 1st fidland Stl ‘a Pacific ‘ansanto ..

Nat — Net Nal an 2 pf..

& H No Ak

Qwens Ill Glass

& El...

Prods Ssh Car. pub BY 7 of. a Pure Oil .i..e0

Republle 2h . Eltnneld Pot” oe

d . wire HE td Oil NJ .

‘or resident, vear 1940.

foros 1. 7 Alr! 5 en “es

WE oo 13

Bucyrus Erie 1 Budd Wheel ..

By |

“et aia A1

0% Firestone nf A 103 . 32% , 68

—J senses 39% —K Kroger G & B. 26% . 35 {ocehq Alreraft 3

i. 15 81a

2 . 31Y

Net Last Change 38% 2

on fe

oh 68

146,

I %

14%

cE HE ELIE T+

oe a ® eo. oe

. 404

i 3 in, —D— 19% 19% i Ji

30%

102 82% 65

gi 39% 26%

Ya 35 2 Ya He 17 17% 61% if : Ya 1 Ya %

§Ys

5-3 79% 7

15 %

le 43%: 43%

gael

Bet -3

1+:

i mv 4

28% ma

HF }

Yo aaa CC

sees sree

oem 3 +134: ®

fh J

By UNITED PRESS

® Month Ago ..... i 8

“1 and soy beans up % to %c.

‘|nouses. Trade was extremely light,

. 1941 Thus Far Thus Far

$176,238,000 $191,820,000 $450,199,000 $503,683,000 6,466 6,092 2,476 3,290 32,341 19,606 26,599

12,856 $1,533,850 $499,500

Per Cent Change 8.8 11.9 5.8 32.9

1940

24,459 12,933 $304,079 $195,250 $1,800 $26,000 $22,800 $58,229 107,289,000 1,972,710,000 10,192,136 93,854 $751,108 547,142 56,433 21,875 381,671

114+ 11) 144404

Unemployment CompensaIndianapolis & Louis-

lis Board

DOW-JONES STOCK AVERAGES

30 INDUSTRIALS 120.88 -—0.98 +0.91

-—0:04

Yesterday

High, 1941, 133.59; low, 117.66. High, 1040, 152.80; low, 111.84. 2% RAILROADS Yesterday ....cecc0acecccee . N32 Week AZO ..cccevssncsannasse N.43 Month AES ...ceccetescceres 38,00 Year Ago 80.68 High, 1041, 20.73; low, 26.54. High, 19040, 32.67; low, 22.14. 15 UTILITIES Yesterday ......... esesecnes Week Ago

19.25 cersspacesasves 1018 cvrssseines 19.88

Year Ago High, 1941, 20.65; low, 18.81. High, 1940, 20.45; low, 18.03.

1 sees Sun Oil pf i

C8 2 wift {7 @ To oe iH

he te =

go.

Texas Corp

Thermoi TWA bu of..

10% 85 1% 127 " ait

V: Van Raalte nf 114% 114%

Woe

Wikr. HR oaw 28% 26% Warner Bros 55 Warner Br t Union..

- Y% '% + Ya

of. 55 oe 10% 10%

ale & T 19 Young Sheet.. 33%

WHEAT PRICES WORK

HIGHER AT CHICAGO

CHICAGO, March 4 (U. P.)— Wheat prices on the Board of Trade worked moderately higher in a slow trade today. Other grains displayed a firm tone. At the end of the first hour, wheat was up % to 3c," May 83c. Corn was up % to 4c; oats unchanged to up 3c; rye up % to 3c

Bulk of the selling in wheat was professional. Demand was fair and came through various commission

a reflection of uncertainties of proposed changes in the Farm Aid Bill and developments in the Balkans.

BUSINESS FAILURES TOTAL 305 IN WEEK

NEW YORK, March 4 (U. P.)— Business failures in the United States in the week ended Feb. 27

amounted to 305 compared with 2047 I.

in the preceding week and 270 in

the corresponding 1940 week, Dun $118.

& Bradstreet, Inc. reported today. Failures with liabilities of $5000 or more totaled 149 against 130 in

Good to Choice— -1 130- 140

40.48] Go

SHOW MARKED GAINS

PRICES ON HOGS ARE UNCHANGED

Top Quotation Here Is

$8.15; 7907 Porkers Arrive at Yards. . HOG PRICE RANGE Top Receipts

Fob. 20 seeessenesscensetn $510 5,677 Feb, 21. 10,083

5| Feb. 23

Feb. 24 Feb. 23 Feb. 26 Feb. 27 Feb. 28

No Sharia was Tae in hog prices at Indianapolis stockyards ‘today,

4| according to the Agricultural Mar-

keting Service. The top here was $8.15 for good and choice 220 to 230-pounders. The Marketing Service reported 1547 salable cattle were received, 482 calves, 7907 hogs and 402 sheep. HOGS Barrows and Giits

como Uow

8 Hahzshasul

8 £eseessees

. 3 S93333300 SN N®000.3:3-3 0 DION O it DO

Toe 200. pounds Packing Sows

CO ht pt oom

0d— 360- 400 pPOUNdS ecsccascecess 400- 450 poun sesntattanee 450- 500 DPOUNAS .ecceceanene

jum. 250- B00 pounds Slaughter Pigs

AP 3-3-3

-3 © oo

; 23% 832

8 €88 e089

Medium and

90- 190 poun 5.50@ 6.35

Slaughter Cattle & Vealers (Receipts, 1547) St

2 BOBORIRI oN AA

sees esestsncs Ssascsssene estsccncentce sssttesneteee

eN8 €eR

Pi ht ht ft et ft pt pt

1100-1300 pound )-1500 pound 50-11 ni -1300 pounds Common— 750-1100 pounds Steers. Heifers

Pott pk uh ht et S955 BBB

aon

EET EE LEER REE] esssssss snes

OO BEBE Samm 3% Soon 3382

1.759 8.75

Choice— 500- 780 pounds

Yt 750 pounds

Choice 760- 900 pounds

780-900 pounds peg. 900 pounds on— 500- 900 pounds .....

11.00€12.25 [email protected]

[email protected] [email protected] 8.00@ 9.50 7.00@ 8.00

7.15@ 8.50 333

ascents

eecstctetee,

1. 8. « S 4. 5.25

TE excluded)

s00catRrene

Beef—

Sausage— Good ..iooee Sess sastsnanasen

Medium 2 Cutter and common .. _ Vealors

Feeder and Stocker Cattle Steers

(Receipts, 482) 18: mali 00

adlesso Bren unds 300-1080 Pounas ries 9. 0.00818.80 8.2359 9.00

50 00- 8 1.500 8.25

800- 108 poun Mi

500-1000 ) pounds cesetescceces Common 500- 900 pounds Seseasssnes Calves steers) Goo. and choice— oun s down .. 500 Pounds down ... Calves (heifers) Good and choi 300 pounds down «. [email protected] edium-—— 500 pounds down ... .50@ 9.28 SHEEP, LAMBS (Receipts, 402) Lambs

Good and shojce civeees aeons 10.8 Medium and Vood

[email protected] [email protected]

setsncnne

33 90 0.25 1%: 25

"mga Conon ad medi "1 "in $208 £98

CHICAGO LIVESTOCK

Hogs—. Receipts, 1.000; slow. steady to 10c lower; some bids off more; practical top, 1 80. 240 lbs. 7.85;

Yearling Wethers Good and hols esens Medium

ipts, 5000; late Monday: fat ower mostly 25¢ Fit gg top, bulk good ch

amps’ R500 wip

104 9 i

the previous week and 121 a year | desi

earlier. Canadian insolvencies ag-

gregated 28 compared with 31 in|e

hoy

No. 31

both the preceding week and the} : ig

1940 week.

Your Federal Income Tax

Bureau of Internal Revenue Checks Up on Your

Tax Return in

The Bureau of Internal Revenue has at its command many sources for checking up delinquent taxpayers. One of these is the: “Information at source” provision of the Internal Revenue Code, under which persons, “in whatever capacity acting,” are required to | Teport on Form 1099, to the Commissioner of Internal Revenue at Washington, D. C., payments of fixed or determinable income to another in the calendar year of 1940 of $800 or more. If the recipient is married, and is a citizen or resident of the United States, Teports need not be made of salary or other compensation for personal services unless the payments aggregate $2000 or more. If the marital status of the payee is unknown to the payor, the payee is considered a single person for the purpose of filing an information return of salary or other compensation for personal services.

8 =»

Fixed or determinable income includes wages, salaries, royalties, premiums, rent, interest, etc. A separate return of information for each employee is required of employers. The requirements are not limited to periodical payments, but a single payment must be re--ported. Domestic and resident foreign corporations are required to make a separate report, Form 1099, of dividends or distributons for each individual, citizen or resident of the United States, resident fiduciary or a resident partnership any member of which is a citizen who Was paid $100 or more during the calendar

8 =»

All persons or organizations acting at any time during the yeat 1940 as broker or other agent in stock, bond or commodity transactions (including banks which handle clearing orders for depositors or custodian accounts) are required to file annual returns of infor mation on Form 1100 with respect to all customers, depositors or accounts for whom or which the total amount of the sales of securities or commodities, or the total market value of the securities exchanged, is $25,000 or more during the calendar year 1940 and _ tach subsequent calendar year, with certain exceptions. A separate Form 1100 must be prepared for each customer, depositor or account for whom or which business was transacted during the year, and must show the name and address and other information provided for in the form. Information returns are carefully checked with individual returns of taxpayers. Thousands of delinquent returns and additional revenue amounting to millions of dollars have been secured as the . result of the examination of information returns,

Several Ways.

: t a: a 3 12. » ; firm Sontmion and DR edium grad $3@9; also very scarce, fin selling a $6.25 down; bulls stea local and shipper

Fn Ed Nesdy 5 Slow, steady. wit with thin

WAGON WHEAT lis stain QlevALtOTS Are DAY. wheat 80c¢; subject to Salis RE: ather erades. their Ae herita, Cash ih By sh No. 2 white oats 32c :

Do You Face Each

12.75; eifers in very sma @11 me

ind scarce. 13 fans

fl corn, oc:

| Day With Dread

Just Because You Don’t Feel Good?

Maybe all you need is Haag’s Liver Pills to pep you up, take away that draggy feeling and put you on top of the clouds. If your liver 1s not secreting bile flow into the intestines as it should, vou lack energy and interest in your work, friends and plans. Don't let gas bloat you up, sour stomach and-pull you down. Take Haag's Liver Pills and feel TOPS!

At sl) Haag's Quality Drug Stores. FOR J€ ar.

381 stood at $63,546,762 or $2.20 a share.

Running the Arsenal

Pictured together for the first

of Production Management (OPM) are the two men who run democracy’s arsenal, Willam Knudsen (left) and Sidney Hillman, who

helped draft the peace formula for ment.

GENERAL ELECTRIC NETS 56 MILLION

NEW YORK, March 4 (U, P.).— General Electric Co. booked a record volume of orders in 1940 and its net earnings rose to the second highest level of the past decade, according to a preliminary statement issued here today. At the same time, it was announced that the board of directors had declared a dividend of 35 cents

a share on the capital stock, payable April 25 to stockholders of record March 14. The company made simlar payments on April 25, July 25 and October 25 of last year, and an gy Ev-vent distribution on Dec. 20. Consolidated net income of the BR company and its subsidiaries was reported at $56,241,000 or $1.95 a share compared with $41,235,644 or $1.43 a share in 1939. That was the largest profit since 1930, with the exception of 1937 when earnings

It was indicated, however, that net income for 1940 would have set a new all-time high had it not been for a 162 per cent rise in total taxes for 1940. The company’s tax bill, including excess profits levies, set a new high of $54,943,000 compared o| with $21,013,000 in 1939. Orders booked for 1940 reached a peak of $654,180,000 contrasted with $360,748,000 in the preceding year, while net sales billed rose to $411,938,000 from $304,680,270.

Behind them is John Owens, assistant to Mr. Hillman.

time since formation of the Office

the Bethlehem Steel strike settle-

France Relaxes

Control on Gold

VICHY, March 4 (U. P.).—The French Government relaxed its strict war-time control on gold transactions today in order to permit use of the metal for industrial and commercial purposes. A decree published by Marshal Petain in the Journal Officiel declared that the Bank of France alone will be authorized to buy and sell gold coigs or ingots but that all industrial and commercial gold in powder or impure ingot form will now be allotted through the central office for distribution of raw materials. The Bank of France previously had maintained a monopoly on gold exchanges of all kinds since the start of the war. The new decree 1s expected to stimulate the resumption of industries in which commercial gold is a necessary commodity.

DAILY PRICE INDEX

NEW YORK, March 4 (U, P.).~ Dun & Bradstreet's daily weighted price index of 30 basic commodities, compiled for United Press (1930-32 average equals 100):

Yesterday sersrssavesns+134.30 Week Ago dastussansnerssee 13439 Month AO .ccoevecscnesess..13334 cusssseses 119.69 1941 High (Jan. 9)....c00....125.21

BANK DEPOSITS

RISE 4 BILLION

Comptroller of Currericy

Reports Loans Gain Less Than Billion.

WASHINGTON, March 4 (U. PD. —Total assets and deposits of all national banks in continental United States, Alaska, Hawall and the Virgin Islands rose more than $4,000,000,000 in 1940 to new alltime highs, according to a report issued today by Comptroller of the Currency Preston Delano. The Dec. 31, 1940, call for condi tion reports showed total resources of the 5150 active banks at $39,7 962,000, compared with $35,319,257,« 000 reported by 5193 active banks at the end of 1939. Deposit of all active national banks at the end of 1940 amounted to $35,852,424,000 against $31,612,992,000 a year ‘earlier. (The American Banker magazine previously reported that the 14,900 banks of all classes in the United States had combined deposits of about $77,000,000,000 at the end of 1940, or about $8,000,000,000 more than at the close of 1939. Loans and discounts, including overdrafts, amounted to $10,027,773,000 at the close of 1940 com pared with $9,043,632,000 at the end of 1939, while investments in U. 8S. Government direct and guaranteed securities rose to $9,752,605,000 from $9,073,935,000 and holdings of all other securities rose to $2,008,472,000 from $1,887,086,000. The reporting banks held a total of $15,120,067,000 as of Dec. 31, 1940, in cash on hand, balances with other banks and reserves with the Federal Reserve banks, compared with $12,503,613,000 a year ago. Unimpaired capital stock of these banks at the close of 1940 amounted to $1,527,237,000 including $195,657, 000 of preferred stock. Combined profits and reserves of the banks

amounted to $2,009,161, cunt $1,872,215,000. ¥ 0 3

COAL PRODUCTION RISES 13 PER CENT

WASHINGTON, March 4 (U. PD.

surplus, undivided |

—Bituminous coal production in the

week ended Feb. 22 increased more

than 13 per cent above the level of :

the corresponding 1940 week, the

National Coal Association reported today. Output for the latest week amounted to approximately 10,350, 000 net tons compared with sl 000 a year earlier, an increase of 13.3 per cent. For the year to date production totaled 75,671,000 net tons against 77,685,000 a year ago. The association stated that the

1940 to date figure included two

more days than the 1941 total, indicating that on a true com 1941 production at this point 1s slightly ahead of last year. If this gain is maintained during the re= maining five weeks of this quarter’ total production for the first quar= ter will reach 130 million tons pared with 120 million tons in)

1941 Low (Feb. 17).......... ..123,03

initial 1940 quarter.

SEARS BUYS LAND

FOR PARKING LOT E

Sears, Roebuck & Co. has bought the property immediately south of

5507

the Athenaeum and will start about |p”

50| April 1 to raze four houses to build a parking lot. The sale was announced yesterday by Fred A. Likely, owner of the

property. Mr. Likely is vice president of the investment banking firm

of Breed, Elliott & Harrison, The |f ~| sale was for $20,000 cash. 7, property consists of four lots

The both Ay the 400 block, two on Cleveland St. and two on N. New Jersey St.

north.

for the company.

For MEN

who “give a dam” about themselves -

A New Cream Deodorant which safely Stops Perspiration

1. Keeps under-arms dryfor 1 to 3 days AND prevents underarm 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 vane ishes instantly. $. Arrid has been awarded the Approval Seal of the American Institute of Laundering for being harmless to fabric. 28 MILLION jars of Arrid bave been sold. Tryajartoday!

LOANS

if The CHICAGC

0 A Tor 10¢ and nd 534 are)

on on Everything

Diamonds, lamonds, Watches, Autos, Cameras, Clothing, Shotguns, Ete. JEWELRY

They represent about 14,000(p7 square feet and will adjoin the|P :| present Sears parking lot on the|p

o| Negotiations for the sale were 7 13 conducted by Stanley W. Shipnes, |p ndy | Sears Indianapolis branch manager,

Mii Inc.

Meeting Your Tax Bill

This year, particularly, many commercial concerns and individuals may find themselves inconvenienced when meeting payments for the stepped-up Federal Income Tax. Increased accounts receivable and inventories occasioned by defense orders might materially contribute to this situation for a business; while an indi. vidual may discover that the increase in his tax is substantially largerthan hehad contemplated.

In either case American National credit can provide logical and prompt cooperation.

Moreover, the probable

upward trend of direct

Federal taxes is one more reason for seeking the advantages of an established relationship with a commercial bank like American N ational.

You are cordially invited to discuss your immediate requirements with one of ourofficers.

AMERICAN NATIONAL BANK

at Indianapolis

PENNSYLVANIA AND MARKET STREETS

A Branch Office is maintained at

College Avenue and 42nd Street .