Indianapolis Times, Indianapolis, Marion County, 5 February 1942 — Page 17

THURSDAY, FEB. §, 1942

HIGHER PROFITS TAXES FAVORED

| Truman and Brewster Balk

On Flat Limit; Set Up ‘War Frauds’ Unit.

WASHINGTON, Feb. 5 igi Two members of the Senate committee investigating national defense today recommended higher excess profits taxes instead of a flat; profits limitation to prevent outs rageous and unconscionable profits in the war program. While the objectives of both plans would be to limit corporations to reasonable profits, the methods would differ radically.

Chairman Harry S. Truman (D.;

Mo.) and Senator Ralph O. Brew-| ster (R: Me.) of the investigating committee said that te put a limit on profits from war contracts would | not accomplishe the objective. They| contended that only by taxation! would all firms be subject to equal] treatment. | i

Objects to Flat Lait

“1 would be in favor of finding, a fair method to determine normal corporations profits and then tak-| ing away 80 per cent of everything above that,” Mr. Brewster said.| “That way, they could make money | and the Government could take away enough to see that profits are reasonable.” Mr. Truman said a flat profit limitation of 6 per cent of the cost of each contract, as proposed by| Chairman Davi 1. Walsh (D.} Mass.) of the Senate Naval Affairs Committee. would “permit some firms to make more money than they should and would drive others to the wall.” i A 6 per cent profit on a $100,000.000 contract would amount to $6.000.000. But the same percentage of a small contract would yield little profit and in some cases might represent a loss, Mr. Truman said.

i | Example Cited

cited the testimony | , Washington repre- | t the Todd Shipbuilding | Corp., before the Senate Naval Af-| fairs Committee vesterday. He said | his organization would have an es- | timated $200,000,000 worth of repair | contracts this year and would be permitted a maximum profit of 10 per cent or $20,000,000. The Todd corporation has invested $40,000,000 in its repair yards, | Mr. Brewster said, and consequently | the $20,000,000 profit would amount | to 50 per cent of its invested capital. | So the 10 per cent profit very|

quickly becomes a 50 per cent

profit,” he said

Both Mr. Barnes and Mr. Walsh !]

were talking about profits in terms of a percentage of the amount re-

ceived for performing the contract. |me

net in terms of annual net earnby the company on its capital or its stock. They also were speak-

ing of a limitation on profits be- It ore the payment of income and|an " en

Xcess profits taxes

y i

THE INDIANAPOLIS TIMES

Bride No. 67 [|OF CAUSES 16TH =a | AUTO FATALITY

Jamestown Woman Dies of Injuries After Fall From Skidding Car.

An icy pavement was blamed today for the 16th auto fatality of {1942 in Marion County. | Mrs. Pearl Houk, Jamestown, Ind, | was the victim. Mrs, Houk, 63, died

{in Methodist Hospital late yesterday

Here's Tommy Manville’s prospective bride No. 6. She’s Madge Lowe, 23, a model from Toronto. Bonita Edwards, who was Mrs. Manville No. 5, got her Reno divorce last month.

NEW GIFTS SPUR RED CROSS DRIVE

Firms and Workers Push Relief Campaign Near Goal of $350,000.

The war relief fund of the Indianapolis Red Cross chapter moved steadily toward its $350,000 goal today after contributions of 30 employee groups of industrial plants and business firms. Large contributors yesterday were the employees of International Har-

vester Co. who gave $2227, and the Real Silk Hosiery Mills and employees who donated $2011. The American-Syrian-Lebanon Brotherhood and affiliated clubs contributed $250. Firms and Workers Respond Others contributing yesterday were: Bann ; ill, Inc, and employees, Machine Tool Co. and Fidelity Trust Co. and

Empire Life & Accident James B i

tance Co. i na y Co. and eployees, $216; ens Gas & Coke Utility es of Indiana Lumberrance Co.. $200: Hecker and emplorvees, $158; Co.. sif0: Billings General enlisted personnel, Co. and employees, ctric & Manufacturem p . $117: Maxine DollChallenge Gauge & Tool Co. s. $100: McCuliough Co. and : Mrs. Richard Fairbanks, 1 Gillespie, $103: Interstate 0. and employees. $100; Harriett

Fo ry Co War Frauds Unit Set Up Dollman. £100 and Lindeman Wood Finish

Products and emplovees, $100.

Mr. Barnes, who frankly admitted | siana Condensed Milk Co. employees. $90: that his company had made “out-|Inii

5 : : { rageous” profits, said its work was!

done on a cost-plus-fixed-fee basis. Under this type of contract, the!

Government pays labor charges,|¢ rental for equipment, overhead ex- {S&P

penses and costs for depreciation. | The Justice Department, mean- | while, created a “war frauds” unit} to study contracts entered into with defense agencies. The new unit] will be headed by Fowler Hamilton] and will be under the jurisdiction | of the anti-trust and criminal di-|

visions. !

HUTSON TC ADDRESS SAFETY DIRECTORS

Saf plants in Indianapolis and central] Indiana will hear Thomas R. Hut- | son, State Labor Commissioner,] when he addresses the Industrial Safety Club at 6 p. m. Tuesday at the Maroit Hotel. | E. A. Frosch, safety director of the | on Division of General Motors will preside at the meeting which will begin with a dinner. | The club is sponsored by the in-| dustrial committee of the Indian- | apolis Chamber of Commerce Safety | Council.

G. 0. P. CLUB TO HEAR ADDRESS ON LINCOLN

Attorney Emsley W. Johnson Sr. a student of the life of Abraham Lincoln, will address the Washington Township Republican Club at 8 p. m. Monday in the club room. 61st St. and College Ave. Mr. Johnson will speak on “The nfluence of Lincoln on American| Life” A number of special features will be presented following the ad-| dress. The program is under the| direction of Mrs. Charles M. Daw-| son, chairman; Mark W. Rhoads, president, and Mrs. Hollie Shideler, | secretary.

ing ia | CO. ety directors from industrial ;¢;

Ot’ er subscriptions reported were: Inilana Inspection Bureau emplovees. $77; Indianapolis Office Supply Co. and emplovees, $70: Smith & Young em-

{ plovees, $82: the Wilkinson Co. and em- | plovees, $70; U. S. Treasury Department

Procurement Division emplovees, $535: iliated Theatres, Inc.. $59: Allied Weld nc.. $50: American Optical Co. and . $36: Binkley Coal Co. and emplovees, $41: Icuis R. Trembia, $50; J. W Jackson & Sons and employees, $49; J. 1 Case Co. and emplovees 331. More Donors Listed Richman Brothers Co. and employees, $44: Langsenkamp-Linkert Carburetor Co. and emplovees, $40: T. M. Crutcher Dental Depot emplovees, $63; James M rake, $5 u Beverage Co. and emplovees, iv ame Church. $855; Metropelitan Life Insurance Co., $36; Employers Liability Assurance Corp., $35; Household Finance Corp. and employees. $32: James Cunning Jr. $50: Gilliom & Gilliom and emplovees. $27: Bush-Feezle S ng Goods Co.. $252 Mrs. F. H. Miller, $50; Purves Manufacturing Cerp., $27. and Sacony- um Oil Co. $34. . Contrih s of 225 each were made by Mrs. M. T. Bogert, Mrs. Malcolm G. Camp11. H. W. Buttolph. Mrs. Alicz Cunning. Day Delta Theta Tau hops. .. Seery Lumber xd C. L. Sum-

Polls Rising Sun On Name Change

CITIZENS of Rising Sun, Ind. today weighed the suggestion of Edmund J. Rocker, 1324 W. Wash-

of injuries received in an accident {on Road 34, a mile and a half from | the Speedway. | Her skull was fractured when the |car driven by her husband, A. L. Houk, skidded and a door flew open, {causing her to fall into the road. | The accident occurred during the

{rain which spread a sheet of ice lover mest Indiana roads.

Four Killed in State

{ Four other victims were added to- | day to the 1942 list of auto fatalities {in Indiana as a result of yesterday’s | weather. | Three Elwood produce growers, driving to the Indiana Canners’ Conference at Purdue University, were killed near Clark's Hill on Road 28. The driver, blinded by the rain, smashed into the side of a New York Central train. The victims were: JAMES M. WADE, 44, the driver. EDWARD M'MAHAN, 47. WALDO DOWNS, 41. CHARLES RUSSELL GLOSS, 28, of Brookston was killed in a collision of two trucks on Road 25 near Delphi. Howard Francis, 65, of 421 E. New York St, was in serious condition |today at City Hospital with injuries received when he was struck by an auto at Alabama and Wabash Sts. Police said the driver. Denver Lawson, 28, of 2442 S. Dakota St., was blameless.

Struck by Hit-Run

A hit-and-run auto struck Mrs. {Dorothy Allen, 32, of 748 Lexington |Ave,, as she was crossing Virginia Ave. She was treated for minor injuries at City Hospital. Mrs. Mary Rozell, 56, of 826 N. {Park Ave, received fractures of {both legs when struck by an auto (at Ft. Wayne Ave. and Alabama |St. Police said the driver was John |R. Ranes, 44, of 3720 N. LaSalle St. {City Hospital today reported Mrs. Rozell’s condition as fair. A leg fracture was received by { Robert Fritche, 21, of 3003 S. Rural |St. when an auto driven by Larry |Avey, 34, of 659 W. 30th St., struck ‘his truck at High School Road and {the Big Four tracks.

| STUDY PAY PLEAS IN 00LITIC STONE BELT

Wage increases asked by approximately 2300 men in the oolitic |stone belt will be arbitrated by a

{five-man board headed by Prof. G. |W. Starr of Indiana University, | Thomas R. Hutson, state labor commissioner, announced today. The decision for the creation of an arbitration board was reached following a conference yesterday between representatives of the Federated Council of Limestone Trades and the Stone Industry Industrial Committee. Union leaders are asking wage increases of from 10 to 15 cents an hour. Both union and industry leaders have agreed to accept the board's finding as final and have pledged no work stoppage during the interim, Mr. Hutson said. In addition to Prof. Starr, the {arbitration board will be composed of two union representatives and two members of the stone industry. A contract between workers and the stone industry expired Jan. 30, 1942.

1. U. CENTER OFFERS REAL ESTATE COURSE

| Registration is still open for a ‘course of real estate study embrac-

ling an analysis of problems in real

name to Pearl Harbor. estate brokerage and property manMr Rotk id (agement currently being offered AT. ROCKET sald no place MM |gyring the spring semester at the American should bear a name [Indiana University Extension Cenassociated with the flag of Japan. |ter, 122 E. Michigan St. Mayor Albert B. Cooper of Ris- (Classes are held each Wednesday ing Sun started an unofficial poll A Snir a aie among the town's citizens, and if {may register at that time. Three the results justify it, he will put hours of university credit will be a change of name up to a vote. given to those who complete th Many residents said they cher- |course successfully. ; ish the name and insist it has | The course is presented as a part nothing to do with the Japs. The [of the two-year real estate course name dates back to 1798 when [conducted under the joint auspices John Fulton and his son, Sam- |of Indiana University and the Inuel, tied up their boat one night |dianapolis Real Estate Board. Uron the right bank of the Ohio | ban K. Wilde, executive secretary of River. The next morning Samuel [the Real Estate Board, directs the

ington St, that it change its

Fulton, awakened by the reflected classes and Arthur M. Weimer, dean |

glow of sunlight from behind the Kentucky hills, cried out: “Look! It’s the rising sun!”

of the university school of business has general supervision of the course.

U. S. Too Optimistic, British Believe as They Recall Own Attitude Early in War

By WILLIAM H. STONEMAN prefer to buy newspapers and listen step has not aroused anywhere near

Coprright, 1942, by The Indianapolis Times and The Chicago Daily News, Inc. {

to radio programs which have the rosiest news.”

as much thought or emotion as the

LONDON, Feb. 5—Reports reach-| The picture, as seen from Lon- cal Prospect of smashing air ating London from the United States don, certainly is far grimmer than tacks on American coastal cities.

create the impression that both the

Amercian press and the American

people are looking at the war| through rose-colored glasses and are] in danger of falling victims to the same type of wishful thinking which was Britain's curse during the early! part of the war. “The American people are looking forward to a long, hard war but their idea of a long hard war is o © punctuated by a steady succession of smashing victories for the United States and its Allies,” one prominent observer reported on his recent return from the United States. “The people ' themselves

the one which summaries of the American press indicates are being seen by the Americans. This seems to apply te Singapore, which is believed here to be fighting a desperate and almost hopeless battle; to Gen. Douglas MacArthur, whose position in the Philippines is regarded as even more hopeless; to Libya, and even to the Battle of the Atlantic. The American attitude toward the Battle of the Atlantic is regarded as significant of a very natural téndency to wish away hardboiled, unpleasant facts. According to reports reaching London, this crucial and very real battle on America’s door- %

] h

The impression here is that Uboat activity along American coasts has been very fierce and is bound to increase in ferocity during coming months. The danger as people here see it as that the Americans will have their hopes raised to such a point that they will not be prepared for the terrific shocks which, in British opinion, are bound to come. They are reassured, however, by the way in which President Roosevelt, Secretary of the Navy Frank Knox, and other American leaders have attempted to bring home the true gravity of the situation without being in aQy way defeatist.

Forget-Me-Not Cologne, 1.00

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All ready for mailing except the address! Fragrance by Richard Hudnut. Plus 10% tax.

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Dorothy Gray's Nosegay, Perfume, 1.00

Sweetly done up in its own cellophane topped box. Plus 10% tax.

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“Early American” Sewing Kit, 1.00

Contains “Old Spice” soap, toilet water, talcum powder, and bath salts. Plus 10% tax.

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