Indianapolis Times, Indianapolis, Marion County, 5 October 1943 — Page 9
Until Proposals Actually ‘Are Law; Modifications Expected.
By ELMER
NEW YORK, Oct. 5.—The Morgenthau tax ropes had a sobering influence on the stock market, according to e analysts who now are busy trying to calculate the impact | of the taxes on the various stocks,
The one saving grace as
| tion is that the tax proposals aren't low. One commentator ‘said he wasn’t going to be worried until he saw the tax
Another pointed out that the trend of the war may
determine the amount of taxes that can be added at ‘the am 08, time. He called attention to what he referred
to as a technical rally for the Nazis, namely a new weapon fof the
personal tax rates, but rather a simplification of the tax procedure that might result in a slight rise in a new way of calculation.
No Change in Capital Gains
As for corporation taxes, they may be raised a small amount, according to the experts. Excise taxes are expected to be gauged by what the trafic will bear. Higher
The Street noted that there was Do Shange asked in the capital
ine ar. market expert pointed out
Bqueezing that class, he said, was a yery unfavorable item for the Poste *wpr situation. -
New Jersey Proposal
Another interesting tax item appearing today was carried in ‘the Jpublication, “The Tax Front,” pub- | lished by the tax foundation. It called attention to the fact ‘that the state of New Jersey with ‘ mearly one-fifth of all evaluated |property now tax exempt was seek-
hased property. “When one-fifth of the Jand area in a section of the United States is removed from taxable revenue : usefulness, the danger
5 |p. m. No dinner will be served.
.| resources, approved formation of a
C. WALZER
the experts see the tax situa-
‘has outgrown {its local significance | and has now taken on the proportion of a national peril. “Unless remedial legislation is enacted to return a large part of these vast govermnent tax-exempt holdings to the tax polls, the reconstruction period following the war's end will surely see the nation studded with many blighted areas snd ghost towns.”
WPB STEEL AIDS =
ARE CRITICIZED
Connally Says They Prevent Expansion of Industry in Western U. S.
WASHINGTON, Oct. § (U. P).— The war production board's iron and steel section is “owned and controlled by big industry” and repeatedly has blocked efforts to expand production in areas outside present manufacturing centers, Senator Tom Connally (D. Tex.) charged today. He told 74 house and senate mem-
steel industry decentralization program that “every man in the iron and steel section is out of some big company—and they don’t want any more steel.” The congressmen, representing states which have iron ore or coal
“steel bloc™ to work toward creation of steel works outside the present centralization in the -east and Great Lakes areas, They adopted a resolution calling for appointment of steering committees of both houses to do the prelimi. nary work. Senator Pat McCarran (D. Nev), sponsor of the plan, warned mems bers that the WPB will be a “major adversary” in any program to develop * industries in "new areas, charging that agency officials have; “a cramped and prejudiced view. point.” “In this program,” he sald, will run head-on into certain grou within the WPB. Their views are colored by their own experiences, by their own interests or by their pre< vious interests before they came into the government.”
DR. ROSS TO' LEAD
An open forum discussion of busi-
tracts, taxation, inflation and general credit problems will be held at
sponsored by the Indianapdlis Association of Credit Men. : Dr. M. O. Ross, Butler university president, will lead the discussion, assisted by experts from banks,
WPB, WMC and other federal agencies.
The meeting will begin ‘at 6:15
wi: S. U. 5. STATEMENT
DAILY PRICE INDEX
(1930-32 average equals 100): 1712.21
Month Ago Sls sRs sna e nn 1711.33 Year Ago Set Nasnssnnrrbien 160.65 High (Sept. 28)........ 17243 low (Jan. 2).... 166.61
Motor Co. year ended Sent UB. =. S01:
Srensnn
bers at a meeting to organize a|geod—
WAR DISCUSSION = = =
ness questions regarding war con-| S00
the Columbia club tomorrow night, a
NEW YORK, Oct. 5 (U. P)~—~ } 1
Yesterday ...u.sv.riveeeees 170.97) Week Ago
HOGS AT $14.80; RECEIPTS DROP
All Weights Bet Between 100 - And 400 Pounds Sell At Ceiling.
'_Hog receipts at the Indianapolis stockyards today dwindled to approximately half of what they were a week ago and prices remained at $1480 ceiling which went in effect yesterday. : In an active market, all good and choice hogs weighing between 100 and 400 pounds and practically’ all sows sold at $1480 per hundred ds, regardless of weight. Today's receipts of 5150 hogs and yesterday's receipts of 5854 compares with 10,249 a week ago Monday and 9339 a week ago yesterday.
GOOD TO CHOICE HOGS (5250)
60- 180 pounds pA 180. 200 pounds ....
privity ~~ saledies
14.7014. 14,65@ 14.
Slaughter Pigs Medium and Good 250- 3
seesipese. 15.38Q15.00 13508158
700-900 nds . 900-1100 pons nds 13.50
1100-1300 pou: 1300-1500 Med dia. 700-1100 pounds 100-1300 pounds
700- "1100 | pounds
Reiters Cholee— #60-1000 Good—
pounds ’s )0~ 860 pounds
vere 14.50 14.50
BRN 4.50
pounds 15.78
riven [email protected] 5.00@210,75
10.715@ 12.28
3 3333333333!
Pounds 80, ¥
18.78 |
~ On Renegotiation of Contracts. NEW YORK, Oct. § (U. P)—
600,000 to the government as a result of contract renegotiation and thereby reduced their working capital to a level where critical financial problems will arise in reconversion to peacetime production, according to a Harvard business school study. The study, based on 1942 earnings statements of 11 major aviation § | manufacturers accounting for the bulk of the completed aircraft produced .in the United States, . said the refund brought working capital 24 per. cent below what it would have been, At the end of 1942, the 11 companies had a ratio of current assets to current’ liabilities of 100 to 1 compared with 22 to 1 for the average -industrial company. - The weak working capital position, the study stated, apparently will not affect operations during the war because of the substantial cash advances and large amount of inventory supplied by the government, The study declared that any ma-| jor corrective action will have to be initiated -by the government, since policies and precautions of individual concerns cannot greatly change the situation facing the industry as a whole,
WAGON WHEAT
the close’ of the Chicago mark a, “indianapolis flour. mills and on elayatora 63 per. bushel for. Nd wheat (other odes bp Shale merits), f 2 hits oats, and Tec: d No.3 Shelled Ly Me bushel, “and 2 white shelled _eorn, Wn! Rel
10.50912.28 5.508 10.80 8.50
4 i dali
Feeder and Stocker Cattle and Calves Steers
+ 11.50012.75 seve [email protected]
"10.50011.50 tesssana weees [email protected]
[email protected] SHEEP AND LAMBS (2300)
4.
i 75 13 11.50 [email protected]
VF
2 Bis EF = wisEegises To
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Harvard Study d Puts Blame :
American alreraft producers in 1042] | made an average refund of $16.-
T
o _DAmY MEA PRODUCTS | ANIMALS
5
PRODUCTION OF | SHIPS DECLINES
«| Only 160 Completed During yarcs.
September, Vickery Announces.
WASHINGTON, Oct. 5 (U. P).| {life easier for our regular workers, | 30 net assets $0.97 a share vs. $0.46 |& plan for a single U, 8, compa
Source: U.S. Department of Agriculture
GRAPHIC BY PICKS
— A
level, with only 100 ships com- |
{ pleted, The September lag came, he said, | | despite anticipations it would be] ‘the greatest shipbuilding month in history.” Vickery, who returned three days from a tour of British ship- |
| pared to 164 vessels of 1,607,400 tons
| Shipbuilding Corp.'s Portland yard,
1,602.651 deadweight tons come.
{in August. One bright spot in the picture, | Vickery said, was at the Oregon
i
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i 5
? 2g
23%. ii
8 PB
day that a serious beef threatens the nation unless dial measures are taken at “There has been a 21 per cent res duction of feeder cattle shi : inte the corn bell states for the last three months as com * with a year age,” he maid, “U there is a very decided increase Inf feeder entitle this month, in Noe | vembér, and in December, the outlook for finished beef early next year will be slim.” » a »
i W. A. Patterson, president 48 {United Airlines, said today it would be necessary to pool the resourcds of domestic airlines to prevent des structive competition in the paste war international field. Competition between domestic ait lines in international transport would produce only “destructive
*
all previous records were! In August the Portland |
where broken.
sults,” ‘he said in an open letter ithe Civil Aeronautics board. {post-war market, he added, will too restricted to permit the o|
said also that the British are | yard delivered 18 vessels while in tion of more than one airline in
{turning out ships in fewer man September it turned out 24 vessels |, + ornational fleld.
hours. The reason is, he said, that | “we have a percentage of our men working on safety, labor relations and” other phases of work to make
with * ‘steam -up and hold open ready for cargo,’ > Vie keéry said.
Petroleum Corp. of America Sept.
| —Rear Admiral Howard L. Vickery, while virtually every man over there June 30 and $6.14 Sept. 30, 1942, vice chairman of the maritime com- is employed on actual ship con- { mission, reported today that Amer- | struction.”
3- red on {ican merchant ship production in‘ ' | September slumped to last June's service
ec od A ri
The 160 ships delivered
in September aggregated
EN ETT.
— cr m————————
Universat: Pictures Co. Ine, 30)
171.338 va. 81 513 3 year ago,
IT'S THE AMERICAN RED CROSS
BLOOD DONORS BUTTON
Maybe you think, you're doing your share , . . you're buying bonds at the plant + + + you're accepting rationing wholeheartedly . , . you're forgoing pleasure driving . . . you're serving as an air raid warden , , . but brother—if you can't wear this button, you are still not doing everything you can, The boys up there, on the fighting front, are depending upon us. They want the medical supplies neces. sary to keep them in fighting trim, and when the need arises, they have a right to expect the supplies will be there
We are only asked to give a pint of blood at a time , , . they may have to give
their all if we fail—
Indianapolis’ Quota for 1943, 100,000 Pints
On every battlefront, round the world, blood plasma is saving the lives of our wounded boys who might otherwise become death casualties. It has gone into the steaming jungles of the South Pacific, it has gene inte the frigid regions of the Arctic, it has gone into the tropical desert heat of North Africa, for bloed plasma knows ne climate
and is usable for a period of 5 years, Furthermore, every plasma kit that is
sont to
our boys'is complete and ready to be administered te the wounded in just 2 minutes. But every kit requires the blood donations of 2 persons [one quart) so you can see, -that for every man on the front, we need 2 blood donors here af home. Won't you call today and help SAVE the lives of our boys? Then you can say, “I am an Ameri. , can and am "all out’ for the war effort =
I¥sa Badge of Distinction-Wear It Proudly
oe Bronze Button-First Donation e Silver Button-Third Donation ¢ Red Ribbon Under Silver Button— _ Eight Donations or Gallon Club
Call Lincoln 1441 An appointment will be arranged to suit your convenience, if you're in good health and between 21 and .
W. A. Coverdale, president of the American Export Airlines, opposing y
po
[to operate an international af | transport business, said yesterd that “the American method of re
into weeks ended July 31 net profit $2, ulated competition can lick any fo
‘elgn monopolistic system.”
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