Indianapolis Times, Indianapolis, Marion County, 8 April 1941 — Page 21

PAGE 21 How Taxes Cover Budget

TUESDAY, APRIL & 1041 THE INDIANAPOLIS TIMES

BRITAIN TO TRY Indianapolis Department Store Trade Shows Gain; PORKER PRICES ‘PAY AS YOU C0’ Government Program Boosts Pork Prices Here FALL 40 CENTS

Propeses to Tax $10 Week Incomes, Make Saving Compulsory.

WILLIAM H. STONEMAN 2 19 bv The Indianapolis Times News, Inc 8.-—A man-sized you go,” proposed 1-week incomes, and | he introduction of compulsory sav-| In the Br budget =i crease of 45 per eq the House of Commons | Cont over the one of Wie mos; Sensa<l : same week last apparently one of the | year, which was ever presented in a time of the Weel after Easter, the Federal Reserve Bank of Chicago reported. The gain in Indianapolis was the largest in Seventh Federal Roger Budrow Recerve district where the average gain was 25 per cent over a year ago. The Indianapolis stores showed a 11 per cent improvement for the four weeks ending March 29 this year compared with the same four weeks last year, the bank reported. This four-week improvement here is the same as the average in the district. Employment in Indianapolis in mid-March was 3.7 per cent higher than a month earlier and 34.1 per cent higher than a year earlier, the State Employment Security Division reported In the extent of its employment improvement, Indianapolis is ahead of the state average which was a 3.5 per cént increase over a month ago Payrolls in Indianapolis at mid-March were 7.8 per cent larger than a month earlier (compared with a state average of 6.2 per cent) and 59 per cent ahead of a vear ago. March manutacturing employment for the state was estimated at 337,400 persons, highest in history with the exception of the peak of the canning season in September, 1937. The Indianapolis hog market, as well as other livestock markets, received a shot in the arm from

STOCKS BREAK | ON WAR NEWS

Steels Hard Hit Because of Us Fear Pay Increase Will Cut Profits.

= = sn ”

» » 5

Indianapolis Business Summary

Last Week 1940 A Year Ago Thus Far {22,155,000 275,280,000 254,676,000 $693,232.000 $100,433 $1,222,987 £199,163 $1,163,236 $169,950 £763,980 0 £1,800 $11,500 $86,300 82,500 895,300 0 $64,729 $15,213 $223,535 812 10.076 369 1,392

Agreement Finally Reached After Three Hours of Bargaining. HOG PRICE RANGE

.. 87.95 5.15

By ROGER BUDROW Minor gains were made in most phases of Indianapolis business last week but in a few instances the advances over last year were pronounced ones. Bank clearings rose to 11.3 per cent over last vear, postoffice receipts were higher but remained below last vear while grain shipments to Indianapolis continued to increase. The larger Indianapolis department stores, in the week ending March 209 showed an in-

EXCISE TAXES]

1941 $3,600,000,000

Thus Far $306,476,000 $763,966,000 $1,280,362 $2,750,888 S1LITY.675 £191,000 $343,780 $1,071,000 $9,400 $309,887 11,155 5.831

“% Change 41 vs. 40 11.3 10.2 1.7 136.5 54.1 511.1 298.4 1,023.9 85.5 38.6 10.7

Week Before 819,455,000 $48,225,000 $89,090 $117,966 $94,825 0 £2,000 0 £2,700 $18,441 1,442

522

Last Week £25,277,000 $60,159,000 $105,907 $358,922 $202,350 £6,000 $72,500 $30,000 0 $48,072 904 519

Bank Clearings ......ii00000000 Bank Debits .. Postoffice Receipts .....ovvvvnnn Building Permits ..........0000 Houses Apartments C..iiiciiiciiiiens Business Industrial Public Repairs & Alterations Applied for Jobs ccc. ciiiiicad Received Jobs ...

Claimed Unemployment Benefits (March 29) .

Freight Carloadings: Inbound

Outbound .... Eiectricity Output (KWH) Water Pumpage (Gallons) Streetcar Passengers (Mar, Telephones in Use (April 3) Livestock Receipts (Head). Cattle Calves Hogs Sheep Grain Receipts (bushels Corn Wheat Oats Rye .:. Soy Beans

Pinte | March 23 Ree rH March 28 March 29 March 31 April April Apr & April Anril April April |

CORPORATION INCOME AND EXCISE TAXES $4.450,000,000

hicaro Dail April April 10 pay taxation of $10-a

LONDON

effort

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i troauc in vesterdav, tional and soundest

Sess s ssa erss arate

Aft { with

er three hours of bargaining

each over hog prices, and sellers finally agreed upon a generally 40-cent lower market for all weights of hogs at the Indianapolis stockyards today. This downturn, following three previous sharp rises on the strength of the Government pian to buy hogs at a $9 minimum, was typical of today’s trade at most markets, the Agricultural Marketing Service said. I'he extreme local top fell to $8.55 for some of the best 200-to-210-pound porkers, Receipts totaled 11,530, compared with 5466 yesterday when a 50-cent advance was made. Yearlings, light steers and heifers | sold steady. Cattle receipts Gon. | 2072 and calves totaled 729. Gen-| eraily steady prices again moved the | limited offering of old crop lambs. | No spring lambs arrived today. HOGS

Barrows and Gilts

other buyers

rest err ane .

American Lend- | of daring

to the and

Thanks

Lease law degree

INDIVIDUAL \ INCOME TAXES

Chseanieiines 2,208 2,591 4,051 54,119 33,086

LONDON, Security prices Steck Exchange around advance “City” registered the new budget. The absence of anticipated increases in indirect taxes on beer and tobacco prompted buying of brewery and tobacco shares among home industrials. Railroad common stocks advanced '5 to 1 point and oils turned firm.

DEFICIT 185.300.000.000

16,273 24,696 183,033,000 2,960,390,000 17,309,815 103,342 775,498 82,839 34,329 570,314 88,016 8.622,000 6,772,000 404,060 1,260,000 11,000 145,000

39,33 22,548 164,233,000 2,996,620,000 17,393,648 94,690 823,060 86,514 35,158 603,311 98,067 6,122,000 4,519,000 289,000 1,032,000 107,000 145,000

P)— London

2.970 1,768 11,023,000 202,940,000 1,363,436 242 62,052 6,437 2.817 50.204 2,594 369,000 266,000 15,000 80,000 2,000 6,000

3,889 2,427 13,688,000 206.420,000 1,427,222 4-444 66,249 5,348 2,790 55,184 2,927 852,000 548,000 28,000 232,000 11,000 33,000

4111 2,423 13,477,000 209,220,000 1,432,777 -+ 243 59,114 6,326 2.957 46.195 3,636 726,000 534,000 24.000 116,000 8,000 24.000

April (U on the recorded an alltoday as the its approval of

srr ssr asst

29). If Congress amends tax laws to increase income and excise taxes

paid by individuals and corporations, the Government's receipts on 1941 income will be around §12,225,000,000. Meanwhlie the U. S. will spend 17 billions or more, as is being budgeted for fiscal 1942, Pictochart shows how the two will balance, with photos showing proposed budget expenditures and heavy lines dividing tax receipts.

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{to he Chancellor to envision the the war efdirect inflawas prepared to could not have so without Ameri-

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he as Kingsle Excheq was possibility of fort without tion Ever vhody

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Business Faces Shortage of

Skilled Labor, Raw Material

(Second of a Series) By JOHN T. FLYNN Times Special Writer Business will face many problems in the coming months. One of them is the matter of raw materials. There are certain raw materials which are not available in sufficient volume to go around, either because sup« | plies are curtailed, or demand has swollen abnormally, or shipping | facilities have been cut. The Government, through the OPM, is ate __| tempting to handle this problem by means of priorities—which, after :'all, is the only means that is open — Sd—— to it, Director of Priorities E. R. Stettinius has already put 220 items on the priority lists so that manufacturers will be served in the order of their importance in relation to national defense and health, This will affect many industries, Probably no industry will be more affected than the building industry. | Already even states and cities have | been denied priorities on buildings, so it may be seen what will be the effect on private building. If this continues we may look for an almost complete stoppage of building construction .save in war industries And one of the inevitable effects of this will be the piling up of a large shortage of construction. Another problem which will eon- | front—indeed, already does confront —business is the labor problem. | This will arise first out of labor shortages, chiefly in the skilled

able financing Sasser astanan

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Indianapolis Illinois Central;

Indianapolis Clearing House Association: Division; New York Central: Pennsylvania: Baltimore & © hin; ville (Monon): New York, Chicage & St, Louis (Nickel Plate): City Indianapolis Water Co.; Indianapolis Railways: Indiana Bell Tele Board of Trade; Center Township Trustee; Indianapolis Posioffice;

office of State Employment Chicago, Indiaapglis and Building Commisianer; Indianapolis Power & hone Co.; agricultural Marketing Service; ederal Reserve Bank of Chicago.

Security Lonisville Light Co; Indianapolis

di Sources of ahove figures:

can

AM tance

Lend-Lease

Britain's the | 2 expenditure o 000,000 pound 000) Be will all mate ment poun \

po nds pounds pounds } pound pounds

Bill Big Help

effort during | represent an than 5.000,L £20.000,000,-Lend-Lease act of war without pay1,207.000.,000 will require allowances

25 cents was made, show a $1 to 81.25 last year Center Township Trustee Henry Mueller reported there were 3767 cases of relief last week of which 3364 were active and 403 inactive, The expenditure was $20511 This compares with 6395 rases in Small seasonal marketings tailed the same week last year (6034 to prevent a lower reaction in fat active and 561 inactive) inveiving lamb prices and a net loss of an expenditure of $27.228.

HENDERSON HITS NICKEL SCRAP.

$1 a Pound Is ‘Ridiculously High,” Threatens a Price Ceiling. Choices po

Inds Good — 300- 750 pounds

Slackened seasonal cattle receipts failed to benefit the steer, vearling and heifer price levels which wavered unevenly irom strong on lightweights weak anda 25 cents lower on heavier kinds. But prices are still 31 to $2 over last vear,

total wal

will

~3100 30 G0 00 COBB OO 1

the Government's announcement that it intends to buy hogs at Chi= cago for 89 per hundred pounds to encourage hog production and to aid England under the LendLease Bill. Hog pices here cents during the heavy receipts. (Yesterday another 30 cents was added, bringing the top to $8.95.) Heavier hogs were most In _demanad.

Lamb prices margin over nds .. Packing Sows 1d Choice— pound mds

pound

a va antity to the Government is toying with the idea of training women workers, This shortage of workers will ine evitably have two effects. One will be the demand for higher wages by unions, The other will be laborraiding by employers. Both these

phenomena have already appeared. In time many of the strike diffi« culties will be ironed out. Most of the strikes revolve around repree sentation and higher pay-—and probably more around representa« tion and union recognition than around higher pay.

But

1'1ais 10 De rE

rose 45 to 65 week, despite

pou poun poun

about nd 828 000.000) Wie are maaqe 1or items ¢ balan lies 18 000.000

act n . De

red by gross ) inions and alonly 3,700, 800.000 000) will in this

Slaughter Pigs Good— nds CATTLE Slaughter Catile & Vealers (Receipts, Steers

N. Y. STOCKS

By UNITED PRESS DOW-JONES

2032 ot. poss Choice— not impossible | ho Wood was in a| ith the expected revenue and expenditimated that revenue on od 12 ba would amount to} 0.000 pounds ($6,544,000,000) savings and other extra ed about 1,600.000,000 | 26 400.000.0000) This gave approximately 500,000,000 | ($2 000 000.000) short of the|

ann 1100

STOCK AVERAGES

INDUSTRIALS 123.64 123.28 123.23 150.31

Lingsley

Net

High Law Last Change es

a >i

cope " hetween

He e

—f). 68 0.51 0.33 -f), 08

Yesterday Week ago Month ago Year ago : High, 1941, 133.59: 117.668 High, 1910, 152.80; 111.84, | 2 RAILROADS Yesterday Week ago Month azo

the raiding is a far more in« sidious difficulty Employers with [large contracts facing labor shorts ages go into other towns and other factories and offer more money for help. This results in a general bid« ding up process for labor, In the last war I saw a contractor walk

Axo

200410 [email protected]

00@ b.

1100- 1300 pounds Common— 750-1100 pounds

750Steers,

vate low

to nw

wow oO At

DOO tS - ~3ed00 + SST ann

-18 29,32 8]. 18 Ran

Pond

Ice Mch & Mt

needed Exemption Lowered ir Kingsley’s budget, tially inflationary covered by additional If by additional diOf the latter, half will -aising the standard! income tax by one shilling ence to 10 shillings ($2) in the 1 (3 And by making similar income brackets. will «be provided allowances for lowering the pti the level at begin pay income

According to S this poten and ha axation vered by

! 1

neonle to

Stocks broke 1 panded dealings today on selling at-| tributed to nervousness over war worry over

Steel

was of a 10-cent-an-hour bv

NEW YORK, April 8 (U. P). to 3 points in ex-

Balkan developments and increasing the steel wage situation. were hardest hit. U. 3's points to a new Bethlehem dropped 2! steel leaders had

Steels broke ow at 54. yoints and other osses running to 2 points. based on fears that granting wage increase would seriously im-profit-margins unless added were passed on to the con-

the industry pair osts

S|:

Selling |

Rd & 8 8 Smelt Stores Sugar Sugar Water Woolen 1aconda ac W&Cahle 3 I pr pf 5;

Year ago High, Hizh,

Da WW nw

» gD»

ND Ts DO Dds

WOH 11D IU re in Dy

Oa 03 a 8

pf Ww : pf. §

ron

CAO PID mJ UF a ing OY

Yesterday Week ago

0 ©»

Year ago High, High,

PIED LOLI Lo

PI PO me RITA LORS UY Boa

A ation | South South South Spicer Std Br Std G

Sil

Pac Ry Ry Mie and & BE

Balt & Ohi Balt & O HW Barnsdall Bayuk C St

Brae) So LD »

1941, 1940

1911 1910,

Ind J

31.42 low MM ow, 22.14,

UTILITIES

249 35: 3] 32.6%;

Month age

18.81 18.03, |

Tow, low,

20.65: 26.15;

i i i | i

ange

“4

nf.c

WLS SO On »

7 pf

WH tS

i nickel

WASHINGTON, April 8 (U. P) Price Stabilization Commissioner Leon Henderson for the National Defense Commission warned todas that the Government would fix maximum for secondary nickel materials current “ridiculous prices’ are brought into line with those for primary nickel Mr. Henderson said primary is selling for 35 cents per nickel scrap for $1 a pound ridiculous prices are comunwarranted and have speculation and hoarding, he said. “Only a stabilized market can best serve the interests of our

prices

unless

pound; “Such pletely caused

Cholice-— 750 ann Goo d=

500- 900

Good Med “atte

canne

Beef— Good Cutter

sd and

Heifers

pounds 00

unds

50 30 ~ 3

and common

choi

trades, and next out of labor con- | iroversies. Skilled workers are al[ready exhausted in many lines and |localities. And even intelligent unskilled workers are none too plenti- | ful in many industrial areas. Not | too much hope is nursed of supplying these needs out of WPA lists. A survey of WPA workers reveals only a small percentage of | skilled mei. To ‘meet this difficulty

“, C. TROYER NAMED

TO REAL SILK POST

into one plant where skilled men were getting $16 a day and offer up to $20 a day. He walked out with a couple of dozen craftsmen, The next problem is price ducers may think that the price level will mean riches, It will to some. But it will mean trouble for the business world as a whole unless means are found to check ft. The Government hopes to eliminate some of the bidding up of prices by the priority system already named. But. this will not solve the problem, The most that can be expected from priorities is to ensure essential dee fense materials going to defense

Pro= rising

sumer over Government opposition. Chrysler dropped 2': to a new low at 61':, but General Motors, aided bv a report showing its sales for March ana ine first quarter at all-time records, held within point of its previous

industries. Another method suggested is a ceiling over prices. There has heen some ceiling building—over scrap aluminum and scrap zine, for ine stance. But this will never accom= [plish anything, because the ceiling technique can be made effective only if it is put over all prices and then at the price movement's very beginning The other means of protecting g Prices is taxes. And without this {no real price control can be estabe

and lished,

NEXT: Taxation and its effect: on private investment,

| national defense program. “We intend to correct this situation in accordance with our genera program of adjust the prices of secondary materials in line with primary prices. We must get stocks of serap into the hands of consumers as quickly as possible in order {to contribute properly to the a defense program.’ 3 The Government set. ceiling prices

from 120 to 110 pounds ($480 en In other words, less than the a week will now

time to pay an

taxe to 2440 Peop equivale nm f

begit inc

Stone & Superht: Sweets Co Swift Co

mm 1

J. C. Troyer, assistant to the ns of Real Silk Hosiery { Mills, Inc., was elected to a newly | created vice presidency at the an- [ nnal meeting ‘of directors yester-

per vear.

r nN

Feeder and Stocker Cattle Steers (Receipts, 729)

re] OY ~100 00

making of $10 the St

Q-

[ETS x LOD wb »

I Choice 500- 800 800-1050 Good — 500- 800 800- oo 0 Mediu 500- 1000 pounds Common-—= 500- 900 pounds

Calves choice is down

fe 30D i

Pa Ohio W R

« Moly uett Peab | Colum. Gas Com Solvents Comvwith &_ So Comwith & 8 pf Cons Coupernms Cons Edison .... Eons Oil Bak

se 0 de

to Texas Corp

O1 Thatcher

» Fe ®

pounas

5 de toto i

“ID D=POPD Soto)

ome pounds

1a pounds

close. Reported German successes in the | Balkans were the major factor in undermining sentiment, brokers said.

LOCAL ISSUES

notations by the mdian- | apolis Bond & Share Corp. do not represent actual price of offerings. but merely indicate the approximate market level based on buving and selling quotations of | recent transactions. St _cks Agents Finance Con. Inc. Agents Finaace Co. Inc., Belt RR & Stk Yds rom Belt RR & Stk Yds pfd . Central Tnd Pow 777 nid Comwlth Loan 57% pfd Hook Drug Inc com Home T&T Ft Wayne 7% vid. Ind Asso Tel Co $5 pfd.. Ind & Mich Elec 77% Ind Gen Serv 6% pid Indpls Gas com Ind Hydro Elec n 1dpls P&L 5347 Indpl: P&L com Indpls “Water 3% Lincoln Nat Life N Ind Pub Serv N Ind Pub Serv N Ind Pub Serv 7° | Progress Laundry com Pub Serv Co of Ind 67; Pub Serv 7

to OY

SIRI dx] ww

Sheen tntabane

ENGINEERS DISCUSS AVIATION AND FUEL

and Purdue lent Branch Society of Eng will hold a nesting on aviation and ruel gat 8 p. m. Friday in the Antler: A will premeeting at 45 p.m peakers and the Cable! they talk on L.a Rae Teel, “AdCivilian Pilot Training;” W Woodward, “Ph New AeroTaborat and M. IL. ‘Road Testing Three Grades An discussion will

ah £0 LO ro DOD dx CD ID rt 1D ED +

Seshnasnsnnne

Se ( ‘ C C Cc i { ‘ Cl

{former officers were reA. Efroymson is presi general manager: R. A. Efroymson and Mr. Troyer, vice [email protected]| presidents: C. W. Mann, treasurer; 9.25@1050, J ©. Mueller, secretary: M. Snodgrass, assistant secretary, 0.50211.00 R. W. Buhl, controller, Directors include - Charles { Britton, Arthur V. Brown, G | Efroymson, R. A. Efroymson, Wil« {liam G. Irwin, Mr. Mann, Perry 19 BE. O'Neal, Clem W. Price and Peter hin 50 C. Reilly. (wooled) | assesses D604 50 | 4.00@ 5.50)

CHICAGO LIVESTOC CK

Re 15.000; market slow: 5% 35 cents lower; ig phd 1 $8.50 8 75: 330 "a8 304 8.55: 160-180 Ths. $8 41 sows 95 cents lower; bulk 400-500-1b $7.504 7.75; odd lighter weights]

500 calves. on steers: even vearling selling dependably, but very ak on medium weight and specially medium to good 1200 lbs, upward: yearlings 13 and afound $14 bid on choice stern fed steers 0 however A on cents

All elected. G. dent and

cesbanne

pt 5 03

NB NPN >

| previously has (steers) on second-hand Goo. a machine tools and secondary iron. Medinmsteel, aluminum and zine materials. | 390 pounds A meeting is being held here today in an attempt to stabilize the sec. (condary Copper af and brass markets

GRAIN PRICE DROP : ol LED BY SOY BEANS

IN DEX! P) Price | NEW YORK, April 8 (U. P.).— trend in the market on the Dun & Bradstreet's daily weighted Board of Trade continued downprice index of 30 basic commodities, Ward today. Soy beans showed con- | compiled for United Press (1930-32(Siderable weakness, while other ‘,. laverage equals 100): grains were off fractions of a cent. vs | Yesterday At the end of the first hour wheat Week ago was off to cent, May 91sec Month apo Corn was unchanged to off ‘sc; oats Year ago off 14 to cent; rve up to off

1941 high (March 90) .. + cent and beans off to 1941 low (Feb. 17) cent,

Easiness in stocks and LOCAL PRODU © B

reactionary tendencies in bean an rd prompted selling wheat Heavy breed ored hens d la br pe . ry colored n Testor n i and lower prices The market 12 oi dipped about 1 cent a bushel before meeting supporting orders,

FOREIGN N EXCHANGE

4 1 NEW YORK, April 8 (U.P Followi ne | Ih 50: natives, 87. |are noon cable rate on major currencies ade fed lambs

F 00D PRICES | Rares eo low, bracticall ‘arly petion: most in-

Parl Rates Change 25 cents lower or under «84 as . wooled Western lambs held CHICAGO, April 8 (U —Apples— i ndd head native ewes 85 25 Michigan Jonat hans hu, 81 ie @ 1.25 Toma- 0233 hardiv enough early trading to : » 6543.75. Spinach—= liflow or =Cal I1fornia

0505 market Carrots—California AT IEON crates Poatatoes—Tennessee bu 30-1b ack) i Michigan X orado Sweet Spanisi

and

3 a » ~~

PAD De FD ID

5 1; down bikes Calves (heifers) Gond and ehonice— 300 pounds down Mediim— 300 po

The following Cont Ins ; Cont Oil Del . Cont Steel it Copweld Steel {Crown Zeller pt {Cub-Am Sug ... Curtiss-Wr

Indiz

tion the

1e ana Sec

meers

Ot pa et Cad st

EE a OF bt ba pk C3

0. A.

TMnfive mds

go0@ 9 5!

SHEEP, LAMBS (Receipts, 284) Lambs

down

com pfd

% Need a LOAN

On Your Home? NO RED TAPE-~Consnlt Us,

sista & W

D Lac ‘hh Aire 7 1

{ Douglas Du Pont

he n choice . 108371 Po Ww oodw ard and good . 10.00 1 Woolworth 8.504

Sa 30

Ewes choice and medi um ...

| Eaton Mfg slec. Auto-L |El1 P.& IL | Eng Pub 8 .

are

i anc

T r | ¢ ‘ommon

I't “ i

DAILY PRIC 1

WAGON WHEAT Indianapolis grain elevators for No 1 wheat, Bd4c: subject to market cprn’ new No. 2 white shelled corn, 68c new No. 2 vhilow shelled corn, 64c; No. 2| white oats {

OTHER LIVESTOCK

CINCINNATI, April 8 (U. P.) —Hogs— 1000 { Receipts. 3400: bidding around 40c lower or from $8.60 down: some Ay and choice | 180-220 Ibs. 15¢ lower at $8.8 Cattle—Receipts, 400 calves, 200: rather | low: medium and good steers and heifers $9.5041 10.50: with small lot cutter and common steers and heifers, 87.50@ 8.50 good 1130-1b. steers, $10.25; cutter and common cows. [email protected] mostly load good 800-<1h. heifers. $10.15: sausage bulls 1 87.85: vealers little change: good to choice 811@ 12 common and medium, 87.50

10.50 Sheep—Receipts. 100 dominated: sharply lower 63-1b. lamt $13; few medium spring lambs. 810411; oi hers turned to country for furthe: crop offerings scarce; quotable steady,

a le & 4 Yellow ' 1e re prying

rau 1

p CHICAGO, April 8 (U

BLDG. & SAV.ASSN.

116 N. Delaware St.

7 of pld

! pa r The wheat Fairbanks Firestone T Freept-Sulphu

int to

pt pi

AY a

open pen 80-

Ibs

er ——————

South Africa Spends $100,000,000 Annually For U. S. A. Supplies

There are no obstacles to this * American export trade.

2 70 — 8 60

Lowe sistant general the society, will deliver age

| Gamewell Co Am Tr Electric Foods G&E A Mills pf Motors Pr Ink Tel

S R Bros

rs SW

tT "Rd OVID aca

Receipt ma prines

129.44 128.89 126.10 118.81 129.66 123.03

Se [IIR Jutual §

FIRE-CASUALTY AUTOMOBILE ITY RY LAN: INSURANCE for Careful Property Owners at Substantial Savings

Wa. 2456 |

Co of Inq 7 So Ind G&L 48% pfd .. Terre Hauie Elec 6% ore. Union Title Co CoM, «Luise Van Camp Milk ufd Van Camp Milk com Bo.ds American Loan ds 51...... Omerican Loan 53 48 . | Consol Fin _ 3s 30 Citizens Ind Tel 4s 61 Home T&T Ft Wayne 55 .. Crabb-Reynaslds-Tavlor 5s 42 ¢ Home T&T Ft Wayne 6s 43... Ind Assoe Tel Co 3158 70 2% Indpls P & LL Indpls Railway “Ine Indpls Water Co 3':s Lh Kokomo Water Works 58 8. 7 Kuhner Packing Co 4's 49. 00 Morris 5810 Stores 5s 50... Muncie Water Works 8 6. Nat Silk Hosiery 5s 42 ....... 97 N Ind Pub Serv 3 69 0

3 a

sealing

oe COD re re

a %

SON 4

feeder 550-750-1b higher: to a down; however

tte Gimbel Graham Gt West | Grevhouna C | Gulf Mobile Gu M&Oh pf

FRDRHID NOD O

American ships leave New York for Cape Ports lwice weekly. Exchange control is favorable. Credit elalus excellent. South African National Pub lishers offer counsel. Apply to their American representatives.

JOSHUA B. POWERS, INC. 220 East 42nd Street New York City

renewed host shade this Wig 3 t

50 of

spring lambs preodd head choice and good being refeeding: old around !

rt VCD ur IY

he Leghorn over, 19% colored

siz «+. 103 105 214 2) 13%

. 13%, . 48% 46%,

Mondav: fed 93-103 Ihe fed several loads to shipper butchers: most 105=115-| $10.25@ 10.75; some scaling 3 10 90: load fed wooled 1055 25

Hanna 3 Haves Mfg Holly Sug

Homestake

§ (J. PD) Hogs 20 lhe. $8.25. 180$8.00; 220-240 260-280 1bs 300-350 1hs

FT. WAYNE. April Market 50c¢ lower: 200-2 200 Ibs 88.15; Ihe. $8.05; 240-260 lbs 37.65: 280-300 lbs 87.40 350-400 lbs £7.75: 140-150 Ibs 120-130 ths. 7 28 7 <i Ag 3 erm jambs.

‘pickup Co.)

IN Cent I. Inspiration Insshs cts i Int Nic 1 | Int PAT | Int P&P of . Int T&T

|W Adley opening

a 2 wa i 3 » a.

pound) (dollar! franc) ra

England Canada xX nee Ttaly 1 Cuba ipeso Finland man Switzerland Sweden Japan Mexijen (peso) xTransferablie only license

| General Motors Employees

Told Defense Job Comes First

| P.) —=Alfred P. Sloan Jr, chairman, and| today called upon the} to this great

6 109 103 107% 73

100 i is : 550; calve “a10 To 11

Br tI a =

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Richmond Wa ter Wk 5s 3%... | Trae Term Corp 5s 57 x—FEx-dividend.

3 ry 3 1 U. 8S. STATEMENT WASHINGTON, April 8 (U. P) —Govern expenses and receipts for the current fiscal vear through April 5 compared | with a year ago

This Yea $9.02 4.597

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2344 ) 50 Lett ; Sweet 81.304 1.80. Onion ov 21.254 1.35

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Martin 1 La ¥ Mident 748 90 27.332 521 825 a0 Murphy 5,795.62 4 509,658,375.32 053 23 2823,263.250.58 ... 453 28 2.750589 450.58 | Nat =e" Nat "05 ' 1 | A

3% ‘ t ‘a Expenses, G Cs Receipts - Gross Def Net

SELECTIVE SERVICE

FOR THE DEFENSE OF MOTORISTS

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Biscuit Gypsum Pur&Lt Tea wX Cent ral St 1

42391 248 72 18,503.855.79¢ 272.998 32

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Cus toms. \ NEW YORK, April 8 (U. % | C. BE. Wilson, president of General Motors Corp. corporation's 250,000 employees “to contribute all we can , Inational effort for a strong America.” ! 4 | Mr. Sloan and Mr. Wilson declared in their annual report to em- | ployees that “We in General Motors are pledged to meet the best of our | ability whatever new responsibilities = {we may be asked to assume” in| connection with national defense. | The 1040 employee's statement | comprises a 20=page booklet illus-

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INDIANAPOLIS CLEARING ou Owens Ili Glass

| Clearings Debits

HOUSE $3,352,000 R,371,000

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Pac G&EI Pac Tin Cons Packard Paramt Pict Pen & Ford Penn RR : Phelps Dodge . 2 Phila Co 8 pin 2 Phillips Pet . 38 Plymouth Oil... Press Stl C Pub Serv | Pullman | Pure Oil

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One pie=chart in the booklet dis closed that the G-M sales dollar was distributed as follows: 48.3 cents for materials, supplies and freight; 27.1 trated with photographs, charts and |cents for compensation of em- "| pictographs. Previously, the report | ployees, exclusive of executives; 0.5 was included as part of the corpora= cents for executive management tion’s monthly magazine. (pay: 114 cents for taxes; 8.2 cents! Emphasizing that “the defense| for dividends: 3.3 cents for renewal | job comes first,” Mr. Sloan and Mr.|of plants and equipment and con- |

| Wilson said, that General Motors |tingencies, and 1.2 cents left in the | ae 1 MICHIGAN MUTUAL LIABILITY COMPANY

BY now is “driving ahead on defense] =’ 1s | assignments with all possible DRESSES * COATS 501 Cirele 'l LI ncoln 2348 Plain or Pleated. Plain or Fur-Trimmed Suit DRIVE SLOWLY o INSURE CAREFULLY

1 1

BORG tvs OF 1 Ut re UT 00 TY wh ob 39 0D LDC 3 » - L yr 3

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Indianapolis Bond and Share Corporation 129 EAST

LOANS

Oldest Loan The

Brokers in 146 E

| Rad Ropnblic 8 pf) Revere Con ‘ | Reyn Met

Ed »

MARKET STREET

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St LS Fran pf Sharon Stl of. . Sharp & D.... Simmons a

Cal

on E on Everything!

Diamonds, Watches Watches, Musical Instruments Cameras, AG Shotguns, Ete. JEWELRY CO, Ine.

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= | Speed.” ® Topeoats @ Overcoats

Wages paid last year rose $03. | 404,000 to a record high at $357,253 DRY CLEANED and PRESSED 59c LI. 2628

000, an increase of one=third over! OCCIDENTAL BLDG,

Workmen's Compensation ® Automobile» Group Accident and Health * General Casualty Lines NON.ASSESSABLE » DIVIDEND PAYING

jeent in U. S. plants of General Motors. Annual earnings of G-M| employees averaged $1804 against $1503 in 1030,

the State

FRYE

{the preceding 12 months while CLEANERS € {AY

| hourly payments were up 20 per, 8301-308 OCCIDENTAL

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MEMBER AMERICAN MUTUAL ALLIANCE