Indianapolis Times, Indianapolis, Marion County, 13 February 1942 — Page 28
A A tn
THE INDIANAPOLIS TIMES
PAGE 28
BUSINESS
Profits of Three Indiana Concerns Are Larger, Two Show Smaller Net
By ROGER BUDRUW i
HOOSIER CONCERNS ARE STILL MAKIN G|
MONEY, judging from annual reports several companies sent to their stockholders this week. Three increased their]
profits while two had smaller ones than in 1940. | ris Silk Hosiery Mills, which went in the red nearly 2,000 in 1940, turned up with a profit of slightly over
ney 000 for last year, despite the silk crisis. Because it lost money in 1940, Real! Silk expects to pay no Federal income taxes this year. But it’ is going to put $150,000 of last year's 1alf a million profit into a reserve for the future. Noblitt - Sparks Industries of Columbus, Ind, didn’t make quite as much profit as it did in 1940 but kept slightly over
the million-doilar : : ci} profit line. Net in- Hog prices at the Indianapolis
come for 1941 was Stockyards today were 25 cents) Roger Budrow ; 005000 against higher than yesterday, the Agri-| $1,105,000 in 1940, or $461 per com-|culture Marketing Service reported. | ure against $465 per share pu... was $13 for good to choice! Bendix Aviation Corp. of South 200 to 210-pounders but a few choice | Bend boosted its profits about four!light hogs sold at $13.05. million GS It Hane BO Receipts included 528 cattle, 475 545000 last year ($641 a share) bor compared with about $9.310.000 or calves, 6460 hogs and 1700 sheep. $442 a share in the previous year. Continental Steel Corp. of Ko-| komo had larger profits also. It] earned $1,225000 last year or $5.46| 0° a common share against $778,000 in| 1401940 or $3.23 a common share. During 1939 and 1940 Continental Steel put half a million dollars into a reserve for inventory price decline s0 ne more was added this year. Commonwealth Loan Co. of In- oo pounds dianapolis had a decrease in profits. | Packing They went from $1,001,000 in 1940 to Good and Choice— $970.000 last vear. Stockholders! Soa: 303 Doudns were warmed that business might| 330- 360 pounds not be so good this year because 360- 400 of the Federal restrictions on credit.| 29-23%
Medium — 250- 500
HOG PRICES RISE 25 CENTS HERE
Practical Top Advances to $13 as 6460 Porkers Are Received.
HOGS (6460)
(Barrows & Gilts) to Choice—
140 pounds .. 80 pounds .. 180 pounds pounds pounds 40 pounds pounds pounds pounds pounds Medium—
oo
ff ot ol i fd pk oc E515 11015 R913 8 131s 537395802
ANOREADID
| 160- | 180- { 200-
Pf ph J ok ph ph i R190 RL) 6 63 Koa 3518885528
Sows
roto 90 Sow
pounds pounds pounds
= ODDS AND ENDS: Market value of average bond on N. Y. Stock Exchange rose 70 cents in January. ... International Harvesters biggest| single war contract is for NeW | poice streamlined tanks. America’s| oo 1300 steel-making capacity was boosted | (300-1500 4418000 met tons last vear to a;%eec soe record of 88.750.000 tons. . More noi life insurance was kept in force last|1300-1500 vear than at any time since 1920.55 7710s nounds Institute of Life Insurance reports. 1100-1300 wounds . . . 5000 pre-fabricated houses are| 750-1100 to be built at the Portsmouth, Va, Navy Yard in 105 days. . . . Metropolitan Life, worlds largest private insurance company, has 29.400.000 policyholders, its annual report shows.
LOCAL PRODUCE
2% Ts. Barred and colored. 15¢c: Leghorns. Good {Medium © feathered. | Cutier and common
: Barred and Caney No. 2
and up Beel—
pounds . : Slaughter ‘Pigs Medium and Good— 90- 120 pounds
CATTLE (328) Slaughter Cattie & Calves
11.002 11.75
[email protected]| 2 14.25 14.00 pounds
potinds pounds pounds pounds .......
sresantnes ER
. [email protected] [email protected] [email protected] enn. [email protected]
veunds Steers, Reifers & ‘Mixed Choice— 500- 750 pounds Good— 500-750 pounds
. [email protected]% [email protected]
Choi 350. on 900 pounds
verb b ni vee... [email protected] . [email protected]% [email protected]
.50@ 9.25 3 22 $.25
.50 23 25
Springers,
under Nd ive Rock, 16c: >C
Heavy breed colored hens. 1
full
Bul (an Weights)
(Yearlings exciuded) bs 23¢ Graded ar A medium. grade,
Eggs—Grade _ 2¢c; Grade A 21¢
Bu vero, } TR @3Be: 36%c: butterfat. Ne ¥ 34c JCgunizy Ng © Drices 0.
sma
ali, 21c; no| Good ...... 301000] oe, oa as i ics or CALVES 173)
Vealers (AR Weights)
Good and choice Common and medium ..
Americans! We've a
WAR TO WIN!
800. 1058 Dounds 500- 800 unds 800- 1050 rounds .... Medium
Curtiss- Wright Women Don ‘Propeller Blue’ for Duration REAL SILK CO.
i ar A
Smiling girls in “propeller plant” blue. . . . Women employees in offices of the Curtiss-Wright Propeller Division in Indianapolis are donning unifoms for the duration. Participants in the style show above are (left to right) Norma Zapp, Betty O’Connor, Sara Jayne Ratcliffe, Rosalie Hayes, Doris Deem, Rovena L. Smith, Irma Hubert Looze, Mary Curd, Mary Grace Crum and Antoinette Harris. But the women’s uniforms at Curtiss-Wright do away with that complaint. Above the left lapel pocket of each uniform, there is a pair of eyelets, which are expected to hold the identification
tag, for the duration of the blouse itself.
buttons are stamped with a pair of wings and a propeller. Men as well as women who wear “civilian” clothes at defense
plants have been complaining that the identification tags are tearing their coats and other garments.
uniforms. So far as CurtissWright officials are able to determine, the propeller division is the first plant in the country to adopt uniforms for office workers. The girls’ uniforms, described as “snappy” by the most-critical experts on military tailoring, are of cadet-blue whipcord. The brass
BLUE UNIFORM with brass buttons, worn by women employees at the Curtiss-Wright Corp.'s Propeiler Division in Indianapolis today were believed to be blazing a trail in wartime fashions. Conservation of cloth is the purpose of the adoption of these
NEW YORK STOCK QUOTATIONS
Addressograph . Air Reduc - 3 Alaska et Allegh Lud Stl Allied Miils . 3 + 3} Allied Stores .. 32 2... |}
AM&FPwT $6 of Am&FPwr $7 pf Am-Haw m Hid&L
13.95 A
Am-Viscose 's Am-Viscose pf 133 Am w 23 Am Woolen of. Am i. Anaconda 267s Anac W&Cable. 7%, Armour Armour Armstrong Asso As Dr Gas 1 i 7 Asso -n . tchisen Aue sen pf Al C Line At] Ail Refinin Aviation Corp...
Bald Loco ct.. Balt | Banger & Ar pf Barber Asphaly
Beech Beld Hen Bendix an
500- 900 pounds . . Calves (Steers)
Good ana chnce— 500 vounds down Medium— 500 pounds down Calves (heifers) Gooa amd choice— 500 pounds
Medium— 500 vo
7.50@ 9.00 |
nds down .. SHEEP AND LAMBS
Lambs Geod 2nd choice vy and good om .
(1700)
Yearlings Wethers
Good =nd one Medium
D0 YOUR PART +
Order Defense Stamps Delivered to Your Home
This is War—total War. We're in to win—all of us. If you can't enlist, what ave you going to do? Enlist your dimes and dollars—that’s the answer. Your money it needed pow, for guns, tanks planes. Join up! Start buying Defense Stamps now, om a regular weck-by-week basis.
Good and Common
DAILY PRICE INDEX
NEW YORK, Feb. 13 (U.
and cdi hse
compiled for United Press (1930-32 average equals 100): Wednesday Week Ago Month Ago ........ Year Ago 1942 High Jan. 26 .... 1942 Low (Jan. 2)
U. S. STATEMENT
WASHINGTON. Feb. 13 U. P.y.—Gov ernment expenses and receipts for current fiscal vear through Feb. 11. pared with a year ago:
. 134.70
* % *
FILL OUT THIS ORDER !
Give this Order to Your Times Carrier Boy
1 would like to have Difras Samen deiwercd 1 a Bom tah week until further motice
B35 eps 4040p
Gold Res..
INDIAN ISBOLYS CLEARIN Clearings ... Debits
2
WAGON WHEAT
, today, elevators paid SI. red wheat (other grades on their merits) v vellow shelled corm was Téc and No. 3 2 White oats. 5%c.
and No
3uiler Bros of vers pf ..
o Packing swans Cine & H ..
| Can Facile annon s - [email protected] Celanese 5 of anese 2
£[email protected] | Riis & Gen Case J | Caterpillar’ Te
{Chi Pneu T ..
I Chickasha C
Chry | City 1 & [Seve El Ilm pf. 1107 Moly Co
Dun & Bradstreet’s daily weighted | Sor aon AL
price index of 30 basic commodities, | SO)
pf . a Broadcas, A 113% Col Broadcast B 1
{Col Gas of ..... | Com Credit ...
chkibasbitsceaness 154.3% Com oN {fel .« 154. 12| Somwiin & & So .
Ll 155.89 Cons 151.54 | Cons
{| Cons
Cor.s Cens om on
a3 59 Corn Ex | Bnk | Corn 765.96 | Corn Fr Prod ot Sy =" . -~ oty ter Tetom Giahe Co
Pend Wht | Craney Corp Crown Zeiler Up to the close of the Chicago Market ' Crucible St Indiananois dour mills and grain (Cab Am Sug .. 19 per bushel for No. 2{ Curtis Pub .. NPR Wr . Curtiss white shelled com, | | Cutler Ham
Sy UNITED PRESS
IDOW-JONES STOCK AVERAGES]
| 30 INDUSTRIALS | esterday 106.51
Last Range High
Net Last od | Third Av Ry ... ie {Tide W A Oi -. 1013 ! 931, 30 38's 4 834% 21
3 | May Lag 101g Magia ° & Rob epen an St . 4 | Mengel . ves 33 3 ‘ons ¥ ident Pet . inn Hny .... finn H B pf.. Jission Co .... 'Mo-K Tex “ Mo-K Tex pf [onsanto . lonsanto pf C 108° > Ward
| Timken RB... 38% Transamerica . 4 1; {20th Cent-Fox. 834 3s | 20th Cent-Fx pf 21 Ya —U— | Und Ell Fish .. 30%: | Union Cash .' 64% | Union El Mo pf 104 n Qil Cal 13 n
I Month ARG .....orvssuss cere JILDS Year Age High, 1912, 114.22; Low, 106.31. High, 1941, 133.59; Low, 106.34. val 20 RAILROADS > Yesterday
30%s €434 104 13 312 80!2 283;
3a] . 1Un Pacific os { Un Fac pf 2| Un Aircraft .. | Un Air Lines.. 1s | Un Biscuit j On Carbon United Corp . United Cp bpf.. { United Brug ... ; SE +|{ Un El Coal ..,. 4 + s | United Fruit ...
| Year Ago "2 | High, 1942, 2 High, 1941,
29.01; Leow, 26.66. 30.8%; Low, 24.25.
13 UTILITIES
X
Nash Kelv ..... 4'2 N at & St L.. ¢ Aviation Biscuit . Cath Reg. . 13 Dair 14
Distillers 203s at Gypsum in ew Lead i
Pw r&Lt EL 8 51
35 Ste Sor Penn. Change | Nowierey 34! 1, | Newberiy A pf 10434 35 | Newmt Mining 29% 1; |N Y Cent! Sel 3, {NYC & St pf Ra 12 | NYC Smnious”- 1s NY ww. 5 17s
1 C 1 9
Hide & L pf | Yesterday
Home Pr.. 5 . Mch & PFdv Metal . Metal of
1a 1 1 8
2
I'S
14.94; Low, 20.65; Low,
High, 1942, High, 1941,
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57s High
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3 ® Del & Hud 5, |D Lac & Ww Det Ban, th Dev & BR... | Bram Match
9, 7 .. 8% 1% 13 - Ra
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Todi
| yasen Sales Vanadium Van Norm Mch’ Va EI&P 6 pf Virginian R pes Wabash pf wi. Walgreen . Walker H G&W Walker HGW pf Warner Bros .. Warren Br Tn y pf..
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NY
ev, NYNHEH pf 3% hip . Nort & West.
-1
—
BE ANN® w
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Water
YUL Sh A
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3 a.
Zinc _—
.“ 131% co 29% 21% 251, [ 2812 “. $a .. 397s dla ili . 462 32 2634
3712
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Warren Br Warren F&P Wavne Pump
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| Westing El | West E1 1 pf..
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Otis Steel . Owens Ill Glass
BBE
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: ® Evans Prod G&WI pf . : S Fair. The pf “8 | Fair Morse .... { Fajardo Sug .-.. Fid Phen
Pac Coast ..... Pac Finance {| Pac G&EI
pt
1-33 — ls
Net Last Change 3 1
% $15 650
1 12
‘8
4 { Wheel
JUNKS KNITTERS
Old Machinery Cleared Out To Make Room for |
More than 100 knitting machines
Hosiery Mills here to clear space | for war work. Some of the knitting machines,
use for 10 to 16 years. Now they
| will be dismantled and sold as scrap | which is needed by the nation’s | steel mills. A week ago all of the knitting machines were knitting hosiery. Real | Silk is now making parachute bomb |sleeves, the part ot the parachute that carries flares to the ground. Real Silk President G. A. Efroymson is endeavoring to obtain more war contracts and said the company
| ‘ gross income, a bad debt must have
| been determined by the taxpayer
\valued at $10,000 each, have been in | to be worthless within the taxable |year for which it is claimed and,
FRIDAY, FEB. 13, 1942
Ne. 35
2 Your Income Tax
Worthless debts arising from unpaid wages, salaries, rents, and sim-
lilar items of taxable income are War Work. not allowable deductions unless the {income such
| been included in income for 1941 or are being scrapped at the Real Sie a prior taxable year.
items represent has
To be allowed as a deduction from
where books are kept, it also must have been charged off within the same year. The necessity for this provision is obvious. If a debt could be deducted without the requirement that it be charged off the taxpayer's books, the certainty of its worthlessness would be open to question. Neither the taxpayers nor the Government could be certain that a debt would not be claimed more than once.
will buy special machinery to manufacture the new products.
of factory floor space.
INDIANA GAS FIRM | SOLD TO PANHANDLE
NEW YORK, Feb. 13 (U. P.).— | Panhandle Eastern Pipe Line Co. (today announced the acquisition for 1$11,206,041 of two gas-distributing subsidiaries of Columbia Gas & Electric Corp. and of certain properties of the Ohio Fue] Gas Co. J. D. Creveling, president of Panhandle Eastern, said the company has paid Columbia Gas & Electric $10,766,715 for Michigan Gas Transmission Corp. and Indiana Gas Distribution Corp., and $439,326 for the Ohio Fuel Gas properties.
* CHICAGO LIVESTOCK
Hogs—8000. Market active on Foie {220, lbs. down; generally 10 to cents igh-r: extreme top, $13; bulk 180- re’ 1bs., 12.90: most 270-320 1b. butchers. $12. .506212.75; good and choice 150-180 lbs. averages, $12.25 12.85; most 360-500-1b. | sows, $11.75 12.25. . Sheep—4000. Late Thursday: Choice {light and handyweight fed lambs steady |to 15 cents lower; heavier weights mostly 5|28 cents off; few loads Sisley choice 98- { 1b. weights, £12.15@ 12.35: goed and ghoise | 85- 105-Ib. averages, $81.75@ 12; do 112 13. [email protected] and heavier kinds down So 11: fat sheep steady: few decks choice fed [range ewes, $6. 65@7; today’s trade: early sales iat lambs around steady; * | several decks good to choice 95-105 1bs.. $11.75@ 12.15: strictly choice lighter weights held at $12.25 and up. Cattle—1000. Calves—300: general steer trade dull, weak; medium to 2ood yearlings and light steers, $10.25 12.35; most sales at new low for week: supply, barely steady: {especially on cutters | cows selling at $8.50 steadv at $10.35 down; at $12@15.
few
heifers in neglible cows fairly active, and common beef down: bulls fully vealers unchanged
High . 281, ..1041> 2
Low 281g 104 25
Last change 281% 104 251;
Weston El In Westvaco pf Wheel Steel Stl Mot
pr
a | Willys Overlind. s| Wilson & Co ..
Wilson nf Woolworth .... Worthington i Wriglev 52 —_— 12 b 183g seein Yale 127 ..119% 119% Young Sheet .. 34's 34 ae tian 9ig
¥/ 1 7, 1;
Ly Rad .e Zon Vs
If a debt were allowed as a de-
Clearing out the old knitting ma- | duction without regard to the year chines will provide 50,000 square feet when it became worthless, such
charges could be accumulated to be deducted in a year when there was a large income.
The burden is upon the taxpayer to show that a debt claimed as a | deducation was without value during the taxable year. A statement should be attached to the return showing the propriety of any deduction for bad debts. If in the exercise of sound business judg[ment a taxpayer concludes, after making every reasonable effort to determine whether there is likelihood of recovery, that the debt is of no value, deduction for such debt is allowable. Court action as proof that the debt is worthless is not essential. It is optional with the taxpayer, in a year prior to that in which a debt becomes wholly worthless, to take a deduction for partial loss if partial worthlessness occurs. The provision of the Internal Revenue Code with respect to baddebt and partial bad-debt deduce tions are not applicable to a taxpayer, other than a bank as defined by the Act, where the debt is evidenced by bonds. debentures, notes, or certifictes, or other evidences of indebtedness, issued by any corporation (including those issued by a government or political subdivision thereof) with interest coupons or in registered form.
RYE AND SOYBEANS A RISE IN GRAINS
CHICAGO, Feb. 13 (U. P.).— 8: Under the leadership of rye and , soveans grain futures worked ® | fractionally higher in quiet, early 12 | dealings on the Board of Trades today. At the end of the first hour | wheat was up 's to 3s cent a bushziel; corn up % to oats un{changed to up !s; rye up % to ? |and soybeans up 1% to 1%.
SL ey
oh Ga xt Pmoah®
| Firestone T ... 1534 ve] Direstone pf A. 903 s | Follanshee S cv 31 's | Food Mach ... 30!2 Foster Wheel 11 | Freept -Sulphur. 351s lp
134 93,
| Pac Tin Cons. . Packard . | Pan Am Airw. { Paramt Pict
& Ohio
arker
DUN TRI 00 ON
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Radio ot . I RoE -Or
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Hudson Motor .
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Climax
383% 67
. 58 Ax .. 125g Fuel = Iron 163% 1 & So f 23
lum Gas = “rn 18g . 24
Ss 9-32
4 |
| Jarvis Co
Saison pt i | Jouns-Nan m pf Ta
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A Wide Selection Is Still Available, Too!
If your present car is worth $150, it will completely
cover the down payment on a late model car worth
$450! Futhermore, you can pay the balance at the rate of $16.67 per month plus insurance and financ-
ing charges. Could anyone fairly ask for more leni-
ent terms? Select yours from—
TIMES CLASSIFIED ADS
Good Values in All Models from '35s to '41s Are Offered Daily in Classified Used Car Ads