Indianapolis Times, Indianapolis, Marion County, 11 May 1942 — Page 4

New Tax Proposals Will Make

Drastic Changes in Budgets }

—— By ROGER BUDROW

AFTER READING SECRETARY MORGENTHAU’S ideas about taxes in the paper, it looks as if the mine-run of taxpayers will have to adopt a plan which corporations have used for years. That is, anticipating future taxes and including them in the current budget. |. Secretary Morgenthau wants taxes increased greatly. Even if congress, sensitive to public feeling and especially

s0 in election time, whittles

it is likely the difference will be made up in a sales tax. a

down the treasury proposal,

Even some of the liberal New Dealers, once haters of a sales tax, are for it now because they believe it will Stave

off worse inflation. One fellow, after reading Morgenthau’s new tax plan, roughly figured that he and his family are going to have to live on about 40 per cent

| less than they did before the war started. Taxes, in one form or another, will take up about 10 per cent of his income. He is planning .to put 10 per cent more in war bonds, feeling that it will be compulsory later on and Roger Budrow .,.: ne might as well start doing it now. The other 20 per cent represents the increase in the cost of living in Indianapolis since the war started in the fall of 1939. That's 40 per cent altogether. And he suddenly realized that $o far he and his family haven't done anything yet about cutting living costs. #

Well, he awakened to that fact much earlier than most people who probably will sail along until they get one terrific jolt next March when it comes time to pay federal * taxes again. Then many will have to resort to borrowing or paying taxes quarterly instead of having saved money between now and then to pay them all at once. If taxes and o#laer expenses keep on going up next year, paying this ‘year’s taxes quarterly will make the burden harder the next year. Which is the reasoning that made him realize that the situation is really getting serious and now is the time not later, to trim our sails,

n # »

THE ULTRA-RICH farm lands throughout the central portion of Indiana are gradually being worn down, affer 100 years of intensive farming, to a point where some of our crops are undernourished. That is the conclusion of Dr. George D. Scarseth, Purdue soil soil chemist. The corn yield from Indiana farms in the past 15 years has been only slightly above the record yield 60 years ago. Dr. Scarseth says this: means that the soil’s productive capacity has gone down 15 to 20 per cent because the new hybrid corn will produce as much as 20 per cent more corn an acre than the old-fashioned type. ” ” » ODDS AND ENDS: Pennsylvania coal mines, abandoned for years, are being reopened to supply rising demand. . . . the government wants to find 4000 new oil wells this year. . . . Silver, one of the last priority free metals, is being rationed (unofficially) by leading silver bullion dealers and jewelry and tableware manufacturers are sufferers. . . . “Japan” grade of rice is now called “American pearl.” . . . Federal reserve board says the treasury’s recent “tap” issue didn’t go far enough. . . . The Indiana State Chamber of Cemmorce concludes that the new delivery truck rulings from Washington will force private concerns doing their own delivering in suburban areas to become either “contract or common carriers, putting such delivery systems out of . existence as private carriers.

DAILY PRICE INDEX

NEW YORK, May 11 (U.P).— Dun & Bradstreet’s daily weighted price index of 30 basic commodities, compiled for United Press (1930-32 average equals 100). Saturday .eceecccesrcesceces 158.34 Week 880 eececsoossoercesss 15749

Month ago 900000 ONINNIRILBNYS 157.70 EXERT B80 ..-+c:csescsssnsses 133.03

1942 high (May 9)cceecee.es. 158.34]

1942 low (Jan. 2)...cecee.00. 151.54

LOCAL PRODUCE

Heavy breed Leos, full-feathered, . 19¢;

15¢ th hank colored, 33c:

i 3 to 3% - white Hors barred rock, 2 ss: socks. ite. : Yeceipis, 54 *Ios. and up,

No. 2 poultry 3=Grade A la hs 26320: pipe, 7 sm ng

‘3814c. 1, 43

Heidea om

43c; Ne. 2 Le 87c; No. 2 . joes on b live red a. Haat: © apolis. quoted by W Co.).

just |

MEAT GEILING

To Highest in

March, 42.

WASHINGTON, May 11 (U.P.).— Government action in placing ceilings on beef and pork prices was seen by agriculture department experts today as virtually fixing prices to be paid growers as well as those paid by housewives.

“Prices received by livestock growers and paid by consumers probably will fluctuate within a narrow margin near the ceiling levels fixed by the office of price administration,” officials said.

They based that prediction on the assumption that the demand for beef and pork will continue to absorb all cattle and hog production. An increase in production or a decrease in demand might result in lower prices, they said.

The OPA order set maximum beef prices at the highest levels prevailing during March. The wholesale ceiling becomes effective today and the retail ceiling a week from today. Pork ceilings were established in March.

Production Gains

Both cattle and hog production are substantially greather than last year. Hog production is up about 15 per cent. The sale of slaughter cattle during the first four months of this year was 20 per cent above the same months of 1941. Officials predicted that for the year it will be 10 to 15 per cent above last year.

Despite the heavier marketings, increased demand both in this country and by other united nations for lend-lease shipments have forced cattle prices up nearly 20 per cent during the past year.

Average Price $15.08

last week of March on the Chicago market for choice and prime steers was $15.08 a hundred pounds, compared with $12.88 in the last week of March, 1941.

ing experts estimated that livestock growers will send between 17,000,000 and 18,000,000 head of cattle to market this year. ‘The hog slaughter is expected to total about 83,000,000 head. A 14 per cent increase over 1941, “Unless there is some sharp change in the demand or supply prices paid growers probably will

hundred pounds on both cattle and hogs during the remainder of the

ficial said. May Protest

Agriculture department officials asked that they not be quoted by name, explaining that “the price ceiling administration is being handled by the OPA and we don't want to encroach on their field.” The price ceiling affects prices paid by packers only indirectly. Any packer can bid higher than March prices if-he wants the cattle enough to take the higher price out of his margin of profit on wholesale prices. Any packer, or retailer, who believes that his wholesale or retail price ceiling is unfair may appeai to the local OPA board. OPA officials said adjustment will be made to eliminate “obvious inequalities.” They expect, however, that few changes will be made.

U. S. STATEMENT

WASHINGTON, May 11 (U. P.).—Government expenses and Sacoipis for the cure rent fiscal year pooses May 8, compared with a year a

Las" Expenses. yas, 930 SL G45. 3 $10,480, 250, 997. 33 War spd. 32,8084 4,876,541,165 by 12 So 921 1; % Net def. 13,085,183. 865. 74 ’ 2,872,781,835.62

INDIANAPOLIS CLEARING HOUSE Clearings

Debits ............J Nise isnnnrsvs 11,716,000

Remembered Beauty...

plus Modest Cost.

You will wish the very best for a departed loved

one . . . yet assurance of modest cost must be

v

yours. Shirley Service is the remembered answer.

SHIRLEY BROTHERS

FUNE

RALS

TRULY A REMEMBERED SERVIC F*

STARTS TODAY:

A Wholesale Price Level Goes

The average price paid during the | SubA

Agriculture department market- B

fluctuate within "10 to 20 cents a ed

year,” an agriculture department of- 5

$ 4,427,000)

Net ‘High Low Last Change 106% 5%

Abbott Lab 4 pf108% P 31% 17%

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Advertisement

NEURITIS.

RELIEVE PAIN IN FEW MINUTES

N. Y._STOCKS

F Saturday

Week ARO .....cov000000ee

: Saturday

' Nat 1h 2 sum

‘s, | Nat P s | Nat i; | Nat Sup

dadaaadada SRN NNnRE

,|Va El & P 6 inian R;

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DOW-JONES STOCK AVERAGES|

30 INDUSTRIALS 98.70 96.70, 99.44

0.79 0.26 0.01 0.40

sevssesesnnns vee

Week Ago Month Ago ‘Year Ago High, 1942, 114.22; Lew, 92.92. High, 1941, 133.59; Low, 106.34. 20 RAILROADS 24.52

Saturday ...... haves ves Month Ago Year Ago High, 1942, High. 1941,

29.01; Low, 28. 2. 30.88; Low, 24.25. 15 UTILITIES 11.52 Unch. 11.79 — 0.06 11.16 — 0.04 17.46 + 0.05 14.94; Low, 10.58. 20.65; Low, 13.51.

Week Ago Month Ago Year Ago High, 1942, High, 1941,

Net Last Change 18% - 23% + Ya 21 Tans + — %

High Low . 18 " 18% . 33% 23% 1%2 28 10% 22 13%

1

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NYC & StL pf . NYC Omnibus .

++:

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++ +1;

tee. 5% Otis 8tl cv 1 pf 54% Owens Ill Glass 47

+4

Pee Coast .... bac Finance .. bac G&EL oi Pac Tin Cons . Packard

2%

amt Pict . Para Pict i pt. 10894 Parke Davis ... 22

Fri 4 HE

1 Hit

ston Postal Tel pf.. 1 Press Stl Car .. at & G

Safeway St Jos Leas Safeway 5.

Schenley Dist | Sea abd Air L..

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Si Sun Oil ot A ‘119% Mi 4%

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oe Ell Fish .. 313% B&P

Tee ou Paton Carb ... 612 Un EM 4lapf 103% Un Oil Cal . 10% oR panne, vie lia . 8%

24% ph ist 26% r Lines ... 10% “

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£.111%; Pais

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PE THE HL HLL

. 18% wi

[++ FEE

V41$13.90@14;

1, | Steady on o very slow but bulls active; vealers steady |Dealer

A fat clipped

8 par value

| st., same address; 200 undertakin

PRICES ON HOGS ADVANGE HERE

Top Returns 0. 4 to $14. 25 as 11,227 Porkers Arrive At Stockyards.

Hog prices advanced 10 to 15 cents at the Indianapolis stock-|. yards today, boosting the top back to $14.25 for good to choice 220 to 240 - pounders, the agriculture marketing administration reported. |, Weights under 160 pounds were unchanged from Saturday. Re-|§ ceipts included 1904 cattle, 709 calves, 11,277 hogs and 300 sheep.

HOGS (11,227)

tesssrarenans 14,[email protected]

Nooo "230 pounds [email protected] Packing Sows

Good and Choice— 7 00 nds

Good "400 pounds .. 400- 450 pounds . 450- Ju } Hounds Medi

i eaaann

[email protected] Slaughter Pigs

Medium and Good— 90- 120 pounds

CATTLE (1904) Slaughter Cattle & Calves Steers .

[email protected]

Choice 750- 900 pounds .. 900-1100 pounds . 1100-1300 pounds . 13-30 1300-1500 pounds ee. 1435

750- 900 pounds ...eec0es.0s - 12 -13g14.50 900-1100 ounds 1100-1300 pound 1300-1500 pounds Medinm

750- 1100 pounds

1100-1300 pounds nn Toons 0

7-110 pounds [email protected] * Steers, Heifers & Mixed Choice500- 750 pounds Good— §00- 750 pounds

15.50

ceeses »s+. 314.30 I5.80 14:39

esses

essssssnce

sev sssentranse

. 12:[email protected]

sessssessane

seseesee. [email protected]

[email protected] «0. [email protected] Choice 750- 900 pounds ........%... [email protected] ood750- 900 pounds ...ccecee... [email protected] Meajuirn ; 500- 900 pounds ....eseesese. [email protected]

»mmaon 500- 900 pounds 9:[email protected]

Cows (all weights)

3 [email protected] 9.75

6.00@ 7.25

Bulls (all weights) (Yearlings excluded)

cessasaes eens [email protected] . [email protected] 3 00 0 00

Beef— Good

Casi Good

CALVES (709)

Vealers (all weights) Good and choice [email protected] Common and medium [email protected] Cull Loe. TW@ 9.00 Feeder a Stocker © Cattle & Calves

Cho 300-8 800 pounds 300.1050 a:

500- 800 poun 800-1050 poun dium

cesessses.ces [email protected] cesssssssssss [email protected]

sevesessssnss [email protected] cscessscesses 1.30813.

Me 35 | 500-1000 pounds .....ceese... [email protected]

Common 500- 900 pounds .............

Calves (Steers)

Good and Choice— ney pounds down ....

edium-— 500 pounds down ........... . Calves (heifers)

[email protected]

« 12:[email protected] [email protected]

Good and Chotce— » oe Dounds down .. [email protected]

M400" rounds down . [email protected] SHEEP AND LAMBS (300)

Lambs Good and choice .... i i 00 «ee. 13.00 tuevee Ta 25

Medium and good on Ewes (shorn)

Comm Good and choice Teresa . Common ana medium

Shorn Lambs Good and choice «oe [email protected] cessscscesss [email protected]

Medium and good a} Y CHICAGO LIVESTOCK Hogs—Receipts, 14,000; market closed active to all after a slow Op Steady to . strong with iday’s $13. 10; most . wood, and c oice la - 7) oy good 400-500- $13.50@ 13.75, with a few lighter Weight ¥, $13.90. Sheep—Receipts, 10,000; fed wooled lambs opening steady; few’ loads good and choice 95-100 lbs., ‘$14.75@15; nothing done on clippers; fat sheep scarce, stea y. Cattle—Receipts, 10,000; fed steers and

yearlings, including yearling heifers, fully steady; generally market slow, however:

115.00 14.00 12.75

6.50@ 17.50 4.50@ 6.50

- | most kiliers having bid unevenly lower .o

early rounds; comparatively little beef - crop, however, this forcing buying five to raise their price sights; also generally er killing classes, with cows

at $15 down: strictly Shol

Bojte steers ab seni: best 5 $15; bulk, [email protected]; only moderate 1025-

SUpDIY.. above Sie choice 1b, heifers, $14.65; killer sows, $8. 5 down; weighty sausage bulls to to $10.65,

OTHER LIVESTOCK

CINCINNATI, May 11 3. P.).—Hogs— Receipts, 3275; active, hts over 19 lbs.; 15-20 cents higher; Jig tweights and sows steady; bop: $14.10 for good and c joke 180-275 315-300 lbs., $14; 300400 lbs, $13.85; 160-180 Ibs. $13.95: medium _and good Gi lbs., - $13.50; good

grade SOWS, $n Cattle—Recei 1050; Calves—Receipts 450; fairly a * bulls, cows and common to medium grade ‘steers and heifers steady; sizeable lots around 1bs.; steers, $12. steady, weak to 25 cents lower on good steers and heifers; lightweight heirs | 650825 lbs., up to $13, common and medium slaughter steers and heifers, $10.50 1, common and medium beef cows, $8.25 9.50; good, $10; canners and cutters, $6.5 ge. common and medium bulls, $9.50 50, strong weight sausage bulls $10.75; veal calves steady, top, $15, good and choice yh SounnonN and medium,

$11 1814. culls, Slag) Rede) " 100; "market active, 50 cents high £35; and choise sprin lambs, ey Soa1 29 NJ 1b. hts; goo io, choice diy-fed ped lambs to ‘$13; Ee Dn: $3.50@5.

LAFAYETTE, May 11 P.) —Hogs— Market. 3 to 25 "cents fig 166.300 1bs.. [email protected]; .. $13.90@ 14.10: 250-325 lbs.. $13. 20014. Pigs, $13.25 down; Joughs. $13.75 down. Calves, $14@1¢.50; lambs, $12@13.

Incorporations

Haas, Baruch & Co., Los Ange! registration of trade-mark Loral is of n, class 45: gredients o! con &- Davis, Inc., New Fo corporation; admitted Indian enin 3} omic A op Bh

ess. National Woman's Service League Indianapol is; amendment of es of incorporation The Fawick General Co., Inc., Wabash; amendment changing name to The Fawick Airfies C Jlanging author-

0. Inc, Sud C. ind capi stock to 15,000 shares no par

Matin e improvement Oo, ap ay Te C! TO’ - poration act of £71929: 600 shares of $50|§ Haas Simeral Home, adDe: Michigan 300 Shares

Haas, Gladys ¥ E. Hass, Herbert H. Haas.

to

eles, Cal.; s” and

and

713 E. 10th

of $100 par value;

@|ing the senate’s

‘Marvin Haas, | $12.75.,

If you can manufacture any of these materials, contact the war production board, 10th floor, Circle Tower building, Indianapolis. Asterisk indicates plans and specifications are on file there.

BIDS WANTED

i i Inspect Fg Te r rag inding ng ihe fur.

nishin x three equired pa yo three ator” water cooling parts and reJacing all in satisfactory operating conSitio ds are requested at Veterans pr W. Riverside drive & 26th

t., ARMY MISCELLANEOUS Invitation No. Item

Neaetabics subsistence; ‘supplies, fruits,

the fur-

piece of marked and trade-marked. Northern harg maple, . 1 common and set grade; ‘rough; shipping dry ... 18 asi feral base oil . 19 -436—Power sewing machines; type A1l9 S345 Reto eration equ Jie e320 6248—Centrifu al oil oy ey units... 161-S—Flour—| at 2 246—Traps (soll fittings (pipe Batteries Bor hearing line) . 2% sealed proposal 4—Tractor Cranes ......eeeeseeee. 33-53) Rape, sisal

HD; ressors, tongue, wood; droppers, jcine, slraig t, medicine glasses 163-5—Alisp ice. - cinnamon, cloves, ginger, mustard, sage, chili powder,

epper D-141—Absorbent long fiber, sanitary head-rest gauze Sips, 9 geiital floss, paper, disks

D-143—Fiotr Pot pumice, 2 pound in steboard canister Sapiens 3 272-43- 27 Furnishing all ‘labor and materials and performing all work Io Jurnishis "Bi delivering and inStall iosel, Electric Power

Engineer SubFant’ anit se. rie, Mich, X-21 LR United States, cotton, 7 hois

X-281-Fluroscopic table, heavy duty, tilt type. hand poerated, for connection to open aerial & 235~Books, £. vs X-302—Skins, cham M-443—Dish Ta LR type, wheels hall be hard composition, shelves hall be of galvanized iron and bumper shall be of reclaimed rub-

er D-142—Mercury, put up one pound to the container, conisiier to be a round, clear glass bottle D-145-—Plaster. artificial stone,

cotton, covers, cones,

"quick 2 “NAVY DEPARTMENT

SE alamo Cheese, eggs, s

tables 1-3658—Closet, water, color, white; lavatory. vitreous china; unit heater, _ regulator 2

STOCKS MOVE UP IN QUIET N. Y. MARKET

NEW YORK, May 11 (U. P.).— The stock market displayed quiet strength today following last week’s rise of more than two points in the industrial average. Absence of selling pressure resulted in small advances in leading issues, while moderate demand for a few high priced issues brought advances ranging to 5 points in George Helme, which sold at 50. Goodyear preferred and Ingersoll Rand gained 3 points and a number of others had advances of 1 to 2 points. In most instances, howsaver, net gains were small. The market community liked the war news and was favorably impressed with Prime Minister Churchill's, address vesterday. ‘There was caution which- kept many traders on the sidelines and resulted in light

TRADE WAITS

GR FOR SENATE ACTION

CHICAGO, May. 11 (U. P.)— Grain futures eased fractionally in early dealings on the board of trade today. Wheat was off 3% to 12 cent a bushel] at the end of the first hour: corn unchanged to off isc; oats off % to %c; rye off % to %ec, and soybeans off 3 to lc. Most traders were inclined to take »| sideline positions at the start pendaction on the amendment to the. agricultural appropriations bill designed to ' prohibit sales of the government's crop surplus at less than parity.

LOCAL ISSUES

Nominal Suotatious furnished by local unit of National Association of Securities Stocks

Agents Finance Co Inc com. Agents Finance Co Inc pid. .

Bid BL

Ask

d v 6% pd’ [ndnls bat, Su To pid [ndpls Bet : 5 Indpls W. [ndpl

JAnco!

inex N Ind N Ind N Ind Progress Laundry com

Pub Serv of Ind 5% pfd ... Pub Serv of Ind Inc COM .vuesep

Van Camp k p Van Camp Milk com ...ec00s¢ Bonds Algers Wins'w v, RR 4%s8.. American Loan 3s 5 American Loen 5s 45 97 Cent Newspaper Ws 42- 81 dee 9 Ch of Com Bld Co

s 50 Crabb- -Reynolds-Taylor 4s ... 47 Home T&T R Wayne 2 Yas 55 "103 Home T&T Ft yayne 2ol3 .103 nd Assoc Te 4 Co oe 7 [ndpls P&L 3%s 17 Indpls Rallvay Co 55 67 . ndpls Water Co 3 68 Kokomo Water Wor : 5s 58.. Kuhner Packing Co 42s 49.. Morris 5&10 Stores ve

in-IN Tnd Pub Se

4%s Richmond ater Works 5s 57.105 Trac_Term Corp U 8 Machine corn 5s 51

OTHER LIVESTOCK

FT. WAYNE, May 11 (U. Steady to 3 cents h her; $id, 200-220 ibs.. 13 -180 1bs.. 113.85; $13.95: 3 -280 Ibs. 3.90 $13.85: 3 Tbs. 80: 13.50; $13;

$13.75; 150-160 Roughs, $13.25; stags,

Ho 230-240 foe. S., Sod Ibe. 380-400 140-150 Ibs.. 100-130 Ibs. $11.80;

1bs.. $13.25; 130-140 1bs., calves,

Marvin $led0: labs; $14; shipped lambs, $10. 50@

MANAGEMENT and LEASING: Office Space Retail Locations Commercial Propertiés ‘Warehouses

SELLING: Business Properties

APPRAISING: All types of income

Date Bid Closes ;

“Move to the rear” is the appeal of these two young members of the Indianapolis Railways staff, shown with four special cards now being displayed in an effort to induce patrons to make more efficient use of the space in the trolleys and busses. The great influx of war workers, now using the transit system, is the cause for the appeal.

still considerable |

+

FINANCE with BANK LOANS

PERSONAL LOANS: Loans to' the individ=

ual with regular employment. .

AUTO LOANS: Low cost financing. See us first.

F. H. A. REMODELING LOANS: Make those repairs or additions you have been wanting. Low cost. Convenient terms.

FIRST MORTGAGE LOANS: Desirable

mortgage loan plans offered on preferred Indianapolis real estate.

Q

The INDIANA TRUST COMPANY

117 East Washington Street THE OLDEST TRUST COMPANY IN INDIANA

The MERCHANTS NATIONAL BANK

11 South Meridian Street 815 Massachusetts Avenue 21 West 38th Street 2355 Station Street THE OLDEST NATIONAL BANK IN INDIANAPOLIS

The FOUNTAIN SQUARE STATE BANK

1059 Virginia Avenue THE PIONEER NEIGHBORHOOD BANK

Buy United States X VICTORY STAMPS

LIVINGSTON’S

FUR COATS Largest in the

INDIANA FUR CO.

9-31 East OHIO St.

Selection NYE

129 W. Washington St. SAXOPHONE ¢ Lota Instruction '§

INDIANA MUSIC CO. 115 E. Ohio St. — LI-4088

'KNOERLE TIRE CO., Inc. 2421 N. Meridian St LAU 7

TT

; The Home of TAILOR-SHOP CLOTHES

WHILE THE REST OF THE TOWN SLEEPS

HAAG'S ALL-NIGHT DRUG STOR 22d and BE dian

IS OPEN

USE YOUR CREDIT at "NEO £2 Cp INp (2 VIHOISHSINNES

CLOTHING COMPANY

131 W. Washingten St. Otrectiv Opposite (Indians Theater

Beady-fonwousing Plott Vin

LEON \ TAILORING [1

In the Middle of

Make Woodworking Your Hobby, Use

DELTA

MOTOR DRIVEN TOOLS || in Exclusively at VONNEGUT’S :

120 E. Washington St.

EAN ol

2440 N Meridian

WE Buy Diamonds

HIGHEST aR PRICES

STANLEY Jewelry Go.

113 W. Wash. Lincoln Hotel

TIRE LIFE EXTENSION

GOODYEAR

Service Store Delaware at Walnut RI-1436

OPEN MONDAYS AND FRIDAYS

UNTIL 9 P. M.

SPRING HATS

La

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o N

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oro

'R ERPEC] RY C E