Indianapolis Times, Indianapolis, Marion County, 16 May 1941 — Page 22
PAGEG? At City H all—
INTEREST RATE
SETS NEW LOW
oy Floats s $310,000 Issue
At.1Y4% and Receives $1271 Premium.
By RICHARD LEWIS
1 any other city in. the United States—or in the world, for that matter—has a better credit rating at the present time than Indianapolis, City Controller James E. Deery has not heard of it. ’
No matter what has Jiapperied: to|
its internal budget structure through thle years, Indianapolis always has been able to pay its debts. For that reason, as well as for the fact that money is cheap; the City is able to borrow money at a little more than a cent on the dollar. Although this happy state of affairs has been apparent for more} than a vear, it came into sharp focus yesterday when the City floated a $310,000 bond. issue for 1% per cent interest and received a premium of $1271 for the sale. At City Ha4ll, that was believed to be
-the lowest rate of interest in the|
City’s history. Highest Bid 1c
_. The buyers of the issue were three ‘New York City firms—the Union Securities Corp., the Equitable Securities Corp.‘ and’ the brokerage house. of Roosevelt & Weigold. They ‘competed with 15 other bidders -from Indianapolis and Chicago who offered rates not exceeding 1% per cent. In the last 12 months, the City has floated bonds totaling $883,667. '' At no time has the rate of interest exceeded 1% per cent. - So elated at the success, of the sale yesterday was’ Deputy City Controller Herschel M. Tebay that he excldimed: “Oh, this is wonderful. This is positively glorious!” s s
The Unknown Horsemen
: East Saturday afternoon at Coffin Golf Course, Homer Nisley, 6-foot-6 - greenskeeper, spotted two horseback riders merrily trotting. over his greens, ruining months of painstaking labor. Angered, the brawny greenskeeper gave chase.. He leaped into his automobile and roared after the horsemen, who, oblivious perhaps of Mr. Nisley’s horror at the depredation, got into the spirit of the chase. ~-Over- the curb and cross-country bounced the greenskeeper’s machine as the horsemen increased the. pace to a fast' gallop. Then tragedy struck. Mr. Nisley’s car blew a tire. ‘When hé brought the careening car . to. a stop, the horsemen were gone. Mr. Nisley didn’t forget, however. He told the Park Board his woe ‘yesterday, not forgetting the punctured tire. The Board was. incensed. Members ruled that henceforth no horseback riding will be permitted “si Riverside Park. - That anyone - ‘catight riding there will be arrested. And to underline their deter#4fiination, Board members voted a - $25 reward for informaton' leading : fo-the arrest of the unknown horse-
men. 8 =
Fight Tax on a Tax
‘The Ifdianha Municipal League is : "asking membey cities and towns to contribute funds for a war" chest to fight the Gross Income Tax Divi“sion in the courts. About a year ago, the Division de- . cided to collect gross taxes on reve- ; nue-producing functions of municipalities, such as swimming pools, golf courses and utilities. For the: larger, cities, like Gary, “Ft. Wayne, Indianapolis and Evans- ‘ ville, the amount of “tax would run “into thousands of taxpayers’ dol“lars. The League has contended
Shortage of New Cars Seen Soon; ‘Boom Predicted for the Used Market
PROSPECTS OF AUTOMOBILE PRODUCTION . CURTAILMENT Aug, 1, higher retail prices; excise taxes, and increased defense spending may bring a shortage of new automobiles within the next few months. Inventories today are about the same as last. year at this time but sales are 35 per cent greater. There are some. “indications that companies. will keep production
lines rolling full speed until Aug. 1, the -date set by the Office of Production Management for a_20 per cent curtailment to become effective. The changeover of machinery for 1942 models probably will be accomplished in record time. “New buying interest has been stimulated by prospects of a boost in car prices’ and the fact that no company has. announced intentions of making a 1943 model. In fact, General Motors has said flatly it would’ make its 1942 models run through 1943.
A # os “8 2 8
‘Blitz. Buggy “Film to Be Shown
‘A SQUND TECHNICOLOR motion® picture, “The Ford Reconnaissance Car,” showing how “blitz-buggies” are made for the U. S. Army, will be shown without charge at 8 p. m. a week from today at Hoster-Hiser, Inc., (Ford-Mercury dealer), 39th and \llinois Sts. This
film and another from the National Parks travel library, “Adventure Bound,” were secured for local showing by B. V. Beaman, sales manager, and T. M. Ragsdale, assistant” sales manager, of Hoster-Hiser.
CR aos 3 8 # = McCracken to Manage: Used Car Store
K. W. CARR, PRESIDENT, and T. J. O'Brien, secretary-treasurer, of Sullivan-O’Brien Inc. ¢PlymouthDeSoto dealer) at 501 Virginia Ave. announce the appointment of Amos McCracken as manager of the used car store at 660 Virginia Ave: Mr. McCracken, has long been associated with the fields of reconditioning and merchandising of used ‘cars in Marion County. Besides the dealership and used car location at 660 Virginia Ave., Sullivan-O’Brien also - operates. a used car lot at 601 Vir-: . ; ginia Ave. : Amos McCracken - 2 2 a : 5 . # »
Predicts Big Used Car Year
HERMAN SCHAEFFER, executive secretary of . the . Automobile Dealers’ Association of Indiana, Inc., predicts 1941 will be the “biggest used car year in automobile history.” “During the last few :years motorists geierally have hung on to their old cars,” he said. ~ “Records show that in the past 90 per cent of owners have bought new cars every 22 to: 30 months. The average car changed ownership from three to 10 times before ‘it - was junked. Things haven’t been going that way lately. +) “Today more people are trading in virtually new cars to protect themselves against an impending shortage. This throws an unusual number of fine used cars onto the market. : “The used car buyer now has all the advantages. He gets cars that will have practically no depreciation, because there will be little change in 1942 cars, and no changes in: the 1943 cars.”
® # ” ” # 8
Pontiac Adds a New Model
PONTIAC DEALERS are showing a new. addition to. their lines— the Metropolitan Torpedo sedan, the lowest-priced four-door, fourwindow sedan Pontiac has ever built. It is available with ‘either six or.eight cylinder engines, hes extra
wide seats, and a tapered rear deck which provides an unusually large luggage compartment.
It also offers these extras as standard ‘equipment: Enclosed running boards, electric cigar lighter, ash tray in center of instrument
right and left sun visors, dual tail lights and dual horns. 8 8,8 8 8 8
. that such a tax would be fiothing A /more than a tax on a tax to pay a | tax or vice versa. ; | To defend the right of municipali- - ties not to pay gross tax, the League has engaged counsel and is preparing to take the issue all the way up to the U. S. Supreme Court
. if necessary.-
Li
New Deflector Chases Bugs
A TRANSPARENT PLASTIC “bug deflector,” mounted on a car's hood and designed to create air currents which will deflect insects from
‘resembles an inverted equilateral triangle. . It is attached to the radiator guard or grille by metal prongs, the base extending several inches.
“Summit
30. miles over Roads
‘senger cars 4 miles
panel, automatic dome. light that operates. by a door switch, adjustable ‘ Ind.
the windshield, has been placed on the market. The concave deflector|y’
os ae i “THE INDIANAPOLIS:
BEGIN ROAD 40
Close Highway From Plainfied to Bridgeport Is 2d ‘Project. :
Road 40," from Plaindeld to Bridgeport, was closed to traffic today as. work was begun on
tween the two towns. to Terre Haute is directed by the
36 and 41. The Plainfield-Bridge-port project is ‘the second under way on Road 40. A dual-lane road Is being | built from Putnamville to ra.
From arville to ‘Srencarviti ad:
7 ‘Ind, 1— 10 miles over county ro
Ind. 2—From U. 8. 20 iy q ‘anes U. 8S. 20 oe county oil mat. ove Ind. 3—From, Charlestown north to Ind, 362, about 21 miles over Roads 62 and 362. TFrom Muncie to Hartford City. 21% miles gver Roads 35. 921 and 22. arkle to- Waynedale; trucks 26 miles over Roads 224 and 1: passenger cars detour between Zanesville snd Jayne dale 12 miles over county Ly vel n is Mt 0 Muncie, 23 miles over, & gounty. pavement and U. S.
brid (3-ton
Ind. miles over Ind. court From Marion to Huntington: Lo cars’ 28 miles over Roads 8 trucks 41 miles from Marion to {98 Bota nd © from Marion lo PY. Wawnel! rom Marion to~ Ft,
Ind. 1 mile west of int Isabel Rr ki) miles over county Point and Roads 35, 513 and 21. From North Rage north 10% miles over county
d. 17—From Burr oak to Plymouth, 11 a over county roa
Ind. 19—From- Chili Fy to Ind. 16, 5
] miles over county. road and Inc. 1
° 8S. 24-—Northeast of Huntington, 14% mis over Roads 9 and 114, d. 36—From Latevette to Fossuille, 23 miles over Roads 52. 38 and 3 East of les over. pi rave. East of Portland. 2% miles, over. city streets, county oil maf and stone. Ind. 28—From Ind. 1 to. Ridgeville, 8 He over Road 1 and county roads (4 miles extra for trucks at Pennsylvania fray road crossing).
29—From 1 mile north of Madison
[ | to Ind Hn northwest of Versailles, 43 43 miles
over county pavement, From_Middlefork to Burlington, Road 26. county gravet and U.
31—About 3 miles g nig 8 eed.
9% Tiles 8: 35.
25. 1 an Crawfordsyille to LebaInd. 34
Ind. 32—-From county oil
non, : 28 mile« over . mat, Segue, Ind. 532 and 39. U. 36—Bridge out at Montezuma, que Si ee over Roads Tl, 163, 63 pe
Ind. 37--Just north of Noblesville, pas1 over county road: truck route from Noblesville to Marion, 51 miles over Roads 32 and 9. Ind. 39—From Frankfort north to Rossville. 14 miles over: Roa 26. From Ind. 18 north to haonticello, 22 miles over Roads 18. 43 and 2 U. 8. 40—Closed from Bh to Putnamville and from Plainfield to Bridgeport: marked detour 56 miles from re aute to Indianapolis over - Roa
cennes may use Ind. 44—From Johnson-Shelby county line east. 2% miles over county gravel. Ind. 46—From_ Ind. 59 to 2 hgneer, 44 miles’ over Roads 59. 42 and om Hymera to Ss nd. 189. Ye
. Ind. 48-—-Fr miles over county roads and Ro
U. S. 50—From Washington eas, 1 mile Gi city streets and county concrete. §1-—From Jjopcsion Roads 6, 51 and 130° a 82 miles over U. 8. 6 and city streets. Ind. 55— 10 miles over Ind. county gravel an U. S. 52. Ind. 56—From 2 miles northeast of Greendale to Dover. 1812 miles -over U. 8. 0 snd «county bituminous road. {narrow eh 7 Ind. 59 From Sandborn north, 9 mites over- Ind. 67 Gi countv gravel. Ind. 60—Fr m junction Ind. 135 to Bennettsville,, 30° miles over Roads 335., 150 and 111. Ind. 62—From about 3 #iles east of Evansville to near Boonville, 17 Toles Ove ovet new Green River Road and Roa
and 26 i Md Ba west of Princeton. 6 miles over county gravel, concreie and nd. 65—From Owensville to Princeton, 15 miles over Roads 186 Ind. 109—South 3 miles
of Wolf Leke, over county gravel. 114—West of Manchester, 11% miles nd county gravel. bil 18—From junction ® Roads 1 and 118 cast. 3 miles over Ind. 11€¢ and 2 ma Ind. 367—From Albany to Dunkirk,’ 6% miles over Ind. 67 and county road. -Ind. 203—From _junction i 3 56. 8 miles over Roads 3_a 6. Ind. 234—From Ind. 43 Bae Jamestown, 2 nites over Roads 43 an 257—About 3 miles southeast of’ Washin ‘on, 1% miles over county gravel (5-ton bridge) 287—Closed from Brownsburg north detour 21 miles from. TOWNS: . an
Roads d. 303, near Kevstone, to Ind. 1. 8% miles over Ind. 303, county gravel and Ind. 1. Ind. From Crandall to function nd. 64. 8 miles over Roads 335. 135 and
d. 337—About. 3 miles southeast of . 5 miles over county gravel. 356—East of Petersburg, 2" miles '€1 and county gravel. % 3 5L 50 Ind. 3. 15 miles over Roads Ind. 403—From east, of Speed to Road 3. eo Miles over county gravel and Ind. 3.
TWO-LANE WORK
e new} dual-lane highway to be built be-}.' *
Through traffic from Indianapolis| Highway Commission to use Roads J
Detour's now in effect on the state| ‘highway system are:
9--From Columbia cit orth, 7}. 109 and county
(Through traffic from tndianavols %o Vin-
5—From Pine, Village to" Atkinson ny 72
From] -
above the hood.
$31 Indiana olis" t mel, College Ave., Tlst 3 and 0 Cars 31. oyer
AATIONALLY AoveRTISER
- WATCHES
Pir NATIONALLY ADVERTISER * GASH PRICES ON EASY TERMS AT NO EXTRA COST! _ -
For a lifetime traditional gift make your selection fr Rogers complete stocks of mew 1941 Hamilton, Bulov Gruen, Elgin, Benrus, Waltham and Croton watches.
i sot live snywhere in Indiana your charge is youd at Rogers.
EE
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Say modern { Accurate 17 Tiowe move
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$1.00 a Week $1.00 a Week
SQUARE DEAL JEWELERS ——— ® 5 North Illinois Street ri.
Bo 75¢ WEEKLX
AT ROGERS
You Pay
NO INTEREST,
and
NO CARRYING CHARGE
HIGHEST CASH ALLOWANCE FOR YOUR OLD WATCH
accepted as down pays ment in trade for @ new watch.
“HSYLYIA"
570
$1.50 a Week
re: Bai { Ri
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bi
The jamous nationally 7-jewel DL adn 4 smart new
Fourth Ln
¥ / CORAT/ Rc DAY
UNIS),
See the thousands of really §
yy ho CAR
’
~The cars offered diriig this event were fine cars whed pi and “now after careful reconditioning they represent quality hereto-
fore unknown in. used cars. you will quickly recognize the qualit less of the make, style or year of bi
“wonderful bargains NOW being offered—There’s one. that you'll be crazy about : and can afford.
Every year used cars get better and this year’s stock : of cars is the best ever— AND the prices. & forms aol surprise you,
E
139 Olds. 6 Sedan
For deal satisfaction here is a .car that. 100%. Mechanically: in Al condition, havi - completely overhauled. . Exceptionally. side and out. Good for. many HeRigands. free miles , . . and.
“0B Buick k Super Sedan. ub
Cae
ONLY $515 - k
See th x cars, ride in them, and
of a 1940 used car, regardyou wish. |
and battery. Radio:
: Now is the ¢ time to select: t 1at car for your vacation ‘because
. NOW you can save money a:d at the same time get a car that will be safe, comfortable and dependahle for. your trip regardless of how long it might be. ‘Tuin to the Want Ad pages. NOW and . plan to see and drive the car: that appeal to you. |
Here Are a Few of the Many Bargains NO w Available
30 Studebaker Sein
_A really beautiful tar that you can be proud to “own. In excellent condition thruout, new tires :
Clean as a whistle, and
..handles like a new car. An a i Value
for—
ONLY $445
elivers
‘ care’
4
“515 : pr :
0 Hudson Vibtorls. ier $895 2. *'40 Plymouth Coupe ........ 585 3 0 Codon 24 i ag Studebaker President. | 3 Ford Sedan............... 415 _ |
<
Su '39 Ford: Sedan
This ca” has had excellent care and fs absolitely spotless Driven very little. Mechanically ; ‘perfect.
'Equippe: with radio and: d ater. ‘Here is an exphilly fine car atte ‘rexnarkably low price '
:
¥
‘Propst Motor Sales, Ohio & East Sts.
West Side Motor Sales, 2419 W. Wash.
| Stand;
orlits. ‘Motors, |
See the Unusual Values Offered By These Reliable Dealers . Johnson Chevrolet, (ith & Meridian Roy Wilmeth Co. 720 N. Meridian Ace Motors, In¢.,” 1215 N. Meridian Hickman Olds, Inc., 1302 N. Meridian Hoosier Cadillag, 24th & Meridian . Community Buick, 57 W. 38th St. Hoster-Hiser, Inc, 1145 N. Meridian North Side Chevrolet, Inc., 836 E. 63rd E. Side Chevrolei, Inc., 5436 E. Wash.
Coburn Chevrolet, 550 S. Meridian Lewis-Winkler, North & Penn. Essig Motor Sales, 2444 W. 16th C. H. Wallerich Go., 951 N. Meridian Inland Motor Sales, Inc., 1133 N. Mer. Packard Indpls., Inc., 16th & Meridian Knippenberg Motors: Inc, 3759 N..llL Carson Pontiac; 1665 S. Meridian R. L. Flannigan, 1021 N. Meridian Washington Auto Sales, 400 N. Capitol
Rodocker Motor ‘Sales, 2606 W. Mich. Sullivan-0°Brien, ‘Ine.; 501 Virginia Loan, 635 Virginia ie Wash. Abels Aiito, Jo3¢ N Meridian y 2911 Seuteal, McBinty Sales, 324 N, Delaware “| Meridian Loan Boss 820 N. Meridi | r teh {016 N. Meridian