Indianapolis Times, Indianapolis, Marion County, 28 February 1945 — Page 8
THE INDIANAPOLIS TIMES
De-Industrializing Germany May Cause An International Economic Shake-Up
see By ROGER BUDROW
GERMANY IS TO BE DEPRIVED of its future warmaking ability, by rigid restrictions on its industry, the Big Three decided at Yalta. That was a political decision, with]
the senate small business commit-| tee.
ore from which aluminum is made. 4. That the cost of aluminum be |
ment. of competition so that manu-| facturers ot civilian goods could af- | ford to use it.
enormous economic repercussions. Ly, It Will leave a big void in Europe's, — economic pattern which will have to be, filled, resulting in many) REYNOLDS changes and realignments, possibly | creating economic problems five to Al FAVORITISM 10 years from) now as perplexing | as our present po-| roblems, litical provieni®: Asks Government to Break sociation of Man- | | ne poms. Aluminum Monopoly, | out. Sweden, Fin- Cut Cost. land, France, the| . ,cuiNGTON, Feb. 28 (U. P). Balkans snd Bhp —A iil in which aluminum 18 land have always used for everything from Reer barsold many of their raw materials to rels and baby hp roofing, Germany. So did eo automobiles and railroad cars was| which got German machin aly 4 him In the 20 years preceding Ds A De the war, Germany ranged as one of | Pr! AS But to get the full use out of this | the ove lgrgest eusiomers of its strong, ont meta] the government | SOUR. and’ some day Britain, must act to eliminate monopoly in France, Belgium and Czechoslovakia the industry and cut down costs of | can replace Germany as a supplier production, Reynolds said in testi-! of finished products, the believes, but could they ever, absorb the raw materials. which Ger- : v's customers used to sell to In addition to other uses, ReyGermany? nolds predicted aluminum would £0 The Balkans’ and central Euro- | 10to signal towers, step ladders, sean countries were in the Pranco-| Window frames, Venetian blinds,| British sphere of political and eco- | insulation, paint, building board, | nomic influence before the war, Ures. clothing, costume jewerl Now it seems that Poland and household appliances, milk cans and! Yugoslavia have come under the wheelbarrows. Soviet sphere and possibly Bulgaria, Irked by Subsidy Rumania, Hungary and Austria also. Such a create problems’ He said, however, that before like those caused by de-industrializ- looking into the future the governing Germany. ment should make plans to put this| Depending on the degree to which modern industry into the national] Russia meshes its own economy economy right now. He suggested: | with those of its protectorates, Brit- 1. That Reynolds metals be giv en| iin, France, Belgium and other |the same type of contract with the sastern and northern European |8overnment as the Aluminum Co. of sountries must seek new outlets for America. ‘heir . exports and new sources for interest rates and lower risk pro-| sertain foodstuffs and raw ma- visions in its contracts. serials, says the N. A. M. 2. That this counfry stop subsidiz-| Thus, it looks as if Russia holds | ing the Aluminum Co. of Canada,| ‘he key, to the situation. And be- 3. That aluminum plants be] sause of its singular economic sys- moved closer to sources of electric em, the effect on the rest of the world’s trading methods may be irastic and unpredictable. «i 2 4» FIZZLE: Elastic Stop Nut Corp, whose president committed suicide and whose affairs the SEC is probing, expected so many stockholders | at its annual meeting that it hired | the largest office available and wired | HOOSIER AUCTIONEER another room with Oe handle the overflow crowd. ov DENIES OPA CHARGES four stockholders showed up. ” » ” . THE RADIO BEAM which | SOUTH BEND, Ind. Feb. 28 w.| keeps planes on the right route |Pj.—Harold M. Steiner, Plymouth is usually a monotonous dot-dash lauctioneer, returned to the witness hum. But not for our army pilots {stand in federal court today after flying over the “Hump” between | denying yesterday that he defied Indias and China. Their radio |the office of price administration in 0 beam consists of broadcasts of conducting auctions of farm ma- | popular phonograph records from U 8.
Steiner, charged by the OPA with s =» selling used equipment above ceiling | AN INDORSEMENT of the Bret- | prices, admitted making transac-| ton Woods plans was recently pub- | [tions at prices higher than™~ceiling,| lished by the “Economists Commit- | but he claimed the negotiations tee on Bretton Woods,” which said{were not outright sales but 10-year 200 economists favored the plans. . |leases. Now a controversy has started | The auctionee#’ said he believed “because some claim the poll was|he was within the law. He said he unsound, that the questions were talked to OPA representatives, so worded that many UoHs Wee | re authorization of a lawful! who favor changing the agreements | Way of making sales. But the OPA
in some respect had to give a plain [refused to miake suggestions or co“Yes” in the poll. operate with him, Steiner asserted.
GAS UTILITY REALLY COOKIN' WITH GAS 2.omoms ee oe i
ea ds anton a S01 The Citizens Gas & Coke Utility oo
really was “cookin’ with gas” last year, The directors’ annual reports lists a net profit of a cool million for the| year. It was the arsi ime the Prk um ifr cash at the time of tre sale) ever had reached the million mark. |,. ort) thereatter. The actual net income, after pro-| vision for payments in lieu of taxes,| bond retirement and profit and loss| LOCAL ISSUES adjustment was $1,050,669. Gross ~———— operating revenues was up $590,000— Nominal quotations fur 10 863 804 3 oh anapoils securities dealers 10 $10,363,004. hia STOCKS The utility netted more income agents pin Corp com from its by-preducts<than from its Agents Fin Cor Pp pid » vshire Mec main product—gas.’ Gas sales totaled Beit 1 Stk Yds com $4,357,931, a small pain, while coke|Belt R Stk Yds f ] . , . Bobbs-Merriil com sales brought in $5,869,309, and other Bobbs-Merrill 4 by-products — tar and ammonia —|
; Cen ral Soya com * brought $450,000. Comwith I 5 The directors El sets of $2,770,348. During 1944, utility voluntarily paid in lieu of taxes $90,000 tn the civil city and $70,000 to the school city. That's $70,000 more than it paid to the two. governmental units the preceding 2 year. he Indpis Water Cldss Duririgr the year, the directors Jef Nar Lis called in and retired in advance, to save interest charges, bonds totaling $1,400,000. These would have retired between 1968 and 1972. They N ind Pub Ser were part of the series issued in Tub Sery 1042 in acquiring the property of Progress Laundry the Indianapolis. Gas Co. The ad- 59° Gear & Tool vance retirement of the bonds wills! y-Van Cam mean a net interest saving to the Salted i. > company of $878,000, None of the remaining bonds is subject to call, and can be retired only on their respective maturity, dates.
NEW FIRMS AND PARTNERSHIPS
y Mest Market, 5467 N. Keystone tail meat market. Bertha Mae N Ind Pub 5467 N. Keystone ‘ave. sInd 4'%s 55 witH The ards Co., 445 N. ® Colotado: In- | {ub Serv go! Ind 3%s 73 storm windows. W. M. Edwards, IT el 428 55 ave, Army & Navy Stores, 240 8. |
vice of legal ¢ounsél, he added. Before Steiner the first defense witness,
govern-
involved * in Steiner's sales. ~~~ 7» Witnesses testified that the price] for the farm machinery was set at s0 much a year for 10 years that in|
nished by
asthe | «pt | Hook 1 0 Home T&T Pi Ind Asso Ind & Indpls ndpls P ndpls Rails Indpls Wat
listed current
‘a
Stoke
con BONDS Algers Win'w RR 4 American An. American Buhner Feérti |Ch of Com i [Eo Ind T |
el 48. Columbia Club 2-38
Consol Fin 5
{Indpls Railways Co 5s Indpls Water Co 3s
Serv 3%: 8 73
¢ Term Corp 5s ‘67 . | U'% Machine Corp. 5s 52 of army and navy uni- | & - Betty Becker, dd
*Ex-dividend, pay Southeustern ave J. C. Tippey and
A Key to Efficiency A Checking Account at AMERICAN movi, BW
field.” ~
e| : N. A. M. mony prepared for delivery befor Atlantic: routes out its program of
‘I declared that the CAB should not
{rights that would be available.
Alcoa, he said, had lower 3
{ chinery. | at
The lease plan evolved from ad- K
took the stand as yo: more than Mo
‘red wheat
4
‘EUROPEAN PLAN _ LIMITS AIRWAYS’
Pan American Gi Claims U: S. Can Support Only One Trans-Atlantic Line.
By CHARLES CORDDRY United Press Staff Correspondent
WASHINGTON, Feb. 28. = Pan { American Airways contended today {that restrictions which European countries will: place on future air transport will make it virtually impossible for America fo support more than‘ one trans- Atlantic airline. Competition between even -two carriers, Pan American told the civil aeronautics board, would result“in high subsidies, high fares
"USES Managers Shifted
and “a weakening of tife: American position against our foreign-flag! rivals.” In a brief prepared for presentation to the CAB. Pan American protested against proposals of CAB examiners to award two North Atlantic air routes to American Export Airlines. It said these routes if approved, would place Pan American in an “inferior” position to that of the “newcomer in the
Pan American’ Wants Monopoly
Its attorneys said Pan American should have a monopoly of North in order to carry “mass transpor= in 119-passen- |
tation at low rates” ger planes. Warning that “several European | nations” would*insist on quota ar- | rangements’ and controls over frequency of service, Pan American
{attempt to lay out routes “without any notion” as to the landing |
If such routes are to be laid out, however, Pan American said it should fly them because the country {cannot “afford the Igo of competition.” .
Hearing Held on Routes
fThe hearing was held on proals of examiners Thomas Wrenn | erdinand Moran that these routes be awarded: 1. Pan American to Calcutta via the Azores, Lisbon, Madrid, Mar-| seille, Rome, Athens, Cairo and] | Basra. 2, Pan American to Rome via |
power and supplies of bauxite, the Botwood; Foynes, London, Paris and |employed principally ™ textiles,{of children and on the Evansville
| Zurich. 3. American Export. to Moscow |
permanently lowered by encourage- | via Greenland, Iceland, Oslo, Stock- | trades, including department stores.| Personnel club, Kiwanis, and the
{holm and Helsinki. 4. American Export to Cairo via] Botwood, Foynes, London, Amster-| dam, Berlin, Prague, Vienna and Bucharest
N. Y. Stocks
lits-Chal Car Loco Rad & 8S § Roll Mill T&T Tob B Water W A az . Armour & Co . 's } chison . a + 1%] Atl Refining | Bald Loco ct 3 Bendix Avn . 41 a | Beth Steel . 3 73% ly Borden ro 3802 3% ! i Borg-Warner . 1 S 8 Caterpillar T . 51! 50% 0 Ches & Ohio . 3! 53 83! Ys Childs 1 2 7» Curtiss- 3 6° Ya Douglas Air c . } B 5 1% Du Pont 5 6 Gen: Electric Gen Foods . Ha Gen Motors ... 6 7 7 Goodrich Geodyear Lv Ma Greyhound Cp Ind Rayon os 1 Int Harvester 78 3% -N 12 1 1
{
Am
id La 12 1
3 a 8
most of them per- Na transactions at
Pan Am Air Penney . | Pein RR | Phelps Dodge Procter & G ..
each case the witness paid the total | Pullman
Pure Oil { Repub Stl Reyn Tob B Schenley. Dist | Servel Inc Socony-Vacuum South "Pac Brands
WAGON WHEAT
—— —————
Up to the close of the Chicago market today is flour mills and grain elevators paid $167 per bushel for No. 1 (other grades on their merits); white or No 3 red, testing 32 corn, No. 2 yellow 1.09% per bushel and .. old. crop, 81.24%.
oats, No 2 lbs.. ‘or beter, 69c shelled, old crop No. 2 white shell Naumkeag Steam Cotton Co. year ended Nov. 30 nét income $387,973 vsfl $420,294 previous year
LOW COST Quickly Obtained
PERSONAL LOANS
Amount 12 You ! Monthly Repay | “Payments
: 10768 | 8.96 150.00 | 161.29 200.00 |
| 13. “" 215.05
17.02, 250.00 |. 268.88" |. 22.40 300.00 822.60 : 850.00 | 336.38 | 400.00 0 430.11
TUS0.00 1 483.RT
31.36
Prompt Action
THE PEOPLES STATE BANK
130 E. Market ”
ve a
‘Member Federal Deposit Insurance Col tion © ° x
‘for the Calumet area March 1.
{ The nation’s employers were author- | offices before going to Evansville,
rates to that figure.
v,|that 55. cents is not high enough | est Roose, art di-
| neccessary to elibhinate substandards|& Co. A roundby of living.
'2 Ibs, white and barred rocks, 28c.
* “Take over,” says Maury G. Fadell (left) to T. W. Bennett.
Fadell Promoted fo Gary WMC Job; Bennett Here
Maury G. Fadell, manager of the local U. 8. employment service office for the past year, will become war manpower commission director
He will be succeeded here by Thomas W, Bennett, manager of the USES office in Evansville since 1936.
we APPROVES
| Manager of the USES office in Gary before he came here, Mr. Fadell succeeds Ben H. Kerr, cently was appointed director of | veterans employment in Indian- | apolis. Mr. Fadell is a graduate of the Gary schols, and attended the uni-! versities of Minnesota and Notre Dame. He formerly operated pub-
licity and advertising offices in Min-
5-Cent Raise in in Minimum Mrs. Fadell, former Gary
neapolis. : Wage Rate May Affect [school teacher, will return with Mr. 4 Million Fadell when he assumes his new |
post. . Mr. Bennett was manager of the WASHINGTON, Feb. 28 (U. P.).—|porttand and Connersville USES
ized by the war labor board today | He was acting WMC area director to increase their minimum wage| 137 EVATISUle from December, 1942, rates to 55 cents an hour. He is a native of Evansville and The WLB said its aétion opened | a graduate of DePauw and Butler {the way for general wage increases | | universities. In Evansville he was {for 4,000,000 workers earning less| vice chairman of the OCD-Council {than that rate. The workers are|of Social Agencies for wartime care
lumbering, cotton seed oil and tur- | [Post-War Planning commission. He pentine industries and service] is also a member of the Evansville
WLB Chairman William H. Davis| National Office Managers associaemphasized that the decision was /tion. Mrs. Bennett, who has been | not a general order on every manu- | teaching school, will accompany facturer to increase minimum wages him here. to 55 cents an hour. But he said it opens the way for employers or employers and unions jointly to apply for permission to increase their
Meetings
| Craftsmen's Club
Jack H. Rhoades of the Rhoades-
“Still Not Enough”
The WLB said it was a further . step * ‘toward -the elimination of wage rates insufficient to maintain a de- Humphreys- Adams studio, will cent standard of living.” {speak on “Why Art Is Essential” at The 55-cent minimum was first the Indianapolis |ordered by the WLB last week in| Club of Printing ; | deciding the dispute between the | House Craftsmen :| Textile Workers Union (C. I. 0.) and | meeting at 6:30 |54 northern and southern cotton P- m. Friday at |mills. Heretofore the beard’s mini-|the Athenaeum. mum was 50 cents an hour. The!layouts prepared Fair Labor Standards act, sets 40 for the Craftscents an hour. men’s club will be Davis said that the WLB feels discussed by Ern-
but. that -at least that amount is rector of Keeling g
J. H. Rhoads
and local comfollow,
He said it was-all the table discussion |board could approve at this time. |between members The only condition is that increases mercial artists will to the new minimim must not cause |
G who re-
HOG RECEIPTS ARE 8100 HERE Prices Remain Unchanged At $14.80 Government Ceiling.
Hog «receipts amounted to 8100 head at the Indianapolis stockyards today, the war food administration
reported. Other receipts included 1975 wits tle, 578 calves and 1125 sheep. Prices on hogs were unchanged at the $14.80 government ceiling for 160 to 400-pounders.
GOOD TO CHOICE HOGS (8100)
120- 140 pounds $14.00@ 14.50 r40- 160 pounds ..... ., [email protected] 180 pounds .... 200 pounds. .. 220 pounds .. 240 pounds ... 270 pounds =. pounds .. pounds .. pounds .... Medium— 160- 220 pounds Packing Sows
to Choice— 300 pounds 330 pounds .. 360 pounds ...see 400 pounds ..
14.08 . 14.05 . 14.06 14.05
[email protected] . [email protected]
aeeserenine
Good— 400- 450 pounds ....eeee 450- 550 pounds Medium— 250- 500 .pounds
Slaughter Pigs
Medium to Choice— 90- 180 pounds
‘CATTLE (1915) Steers
a Ce [email protected] . 16.25@17:25 [email protected] [email protected]
[email protected] . [email protected] [email protected] [email protected]
, 12.715@ 14.26
pounds ..eecseviiies Vy pounds pouggds . 1100-1300 pounds . 1300-1500 pounds Medium— 700-1100 pounds 1100-1200 pounds Common— 700-1100 pounds
Heifers Choice— 600- 800 pounds . 800-1000 pounds . Good— 600- 800 pounds 800- 1000 pounds . Mediu 500- "900 pounds “ee | Compmon— 500- 900 pounds
Cows {4 weights)
.. [email protected] . [email protected]
2 [email protected] . [email protected]
. [email protected] . [email protected]
Good Medium Cutter and common Canner . rik a Bulls (all weights) Beef— Good (all weights) « [email protected] . [email protected]
m Cutter and common [email protected]
CALVES (575) Vealers (all weights) Good and choice Common and medium [email protected] Cull [email protected] Feeder. and Stocker Cattle and Calves
Steers
Choice— 500- 800 ponds 800-1000 pounds Good— 500- 800 pounds . 800-1000 pounds Medium— 500-1000 pounds Common 500- 900 pounds Calves wtoers) Good and choice— 500 pounds down Medium—— 500 pounds down Calves (heifers)
Good and choice—
500 Pounts down [email protected]% Mediu
500 pounds down .. [email protected] SHEEP AND LAMBS (1125) f Ewes (shorn) Good and choice .:... ....... 1.715@ 9.00
wo: [email protected] . [email protected]
.. [email protected] . [email protected]
[email protected] 1.50@ 8.78
[email protected] [email protected]
_ Fight Over
The court reversed the NLRB dig rective, which ordered the Indianapolis armor plate and saw manufacturing concern to bargain with a plant police unit as part of the International Association of Machinists (A. F. of L.), ruled that the unit was not composed of machinists and that its work was not related to that of machinists. °
Previous to this case, the NLRB had ruled in 133 cases tha} plant guards were employees of the employer operating the plant where they worked, rather than representatives of the military establishment.
Dean Roscoe Pound of the Harvard university law school presented the Atkins company views when the case was argued in Chicago during January. Briefs were prepared by Barnes, Hickam, Pantzer & Boyd of Indianapolis. Frank Donner of Washington was counsel for the NLRB. The case was the first one which had been taken to a federal court
WEDNESDAY, FEB. », 194
Atkins Wins Over NLRB in.
Guards’ Union
E C. Atkins & Co. does not have to obey a national labor relations | ‘board directive to bargain with: war plant auxiliary military police because they are not company employees, but are subject to army” regulations, the Circuit Court of Appeals at Chicagd ruled yesterday, I
or plant protection employees, | sworn into the service of the auxile iary military police under super- | vision of the war department, are |
“employees” as defined in the nae |!
tional labor relations act. In. November, 1943, the NLRB if ordered a collective election among Atkins plant guards, later certifying the Machinists as
bargaining agent, but the company §
refused to recognize them. ‘Then the NLRB asked the court of appeals to enforce its order, which | was denied.
EASTERN AIR LINES
ADDS SERVICE HERE |
Added service to Louisville and Evansville will be placed in opera= tion tomorrow by Eastern Air Lines D. W. Hart, local manager, said departures from Indianapolis for Louisville will be at 11:20 a. m. and - 1:45 p. m. and for Evansville at 8 p. m. Other trips remain approxie mately the same.
to determine whether plant guards
LEGALS
41| LEGALS a“
QUARTERLY
City Controller, City Hall,
of Indianapolis hereby
October 1, 1944, to December 31, 1944, and
FIXED ASSETS *Property. plant and equipment Construction work unfinished.
Less Reserve for Depreciation
CURRENT ASSETS Cash on hand and in Banks **Accounts receivable
Miscellaneous current assets
MISCELLANEOUS ASSETS: Milburh By-Products Cpal Company--Stock and advance » Cash balance in "Revie Bonds, Procéeds Account’'®with the City Controller
payment of Bond principal and interest
8inking Fund Special Replacement Sinking Pund Miscellaneous deposits, investments and other items .
DEFERRED ASSETS: Prepaid insurance and postage Work in progress
and expense—unamortized ..
TOTAL ASSETS
LONG TERM DEBT: City of Indianapolis Gas Plant serially to 1967; interest 45% June 1st and December 1st Y Retired
per
serially to 1967; June 1st and December 1st Retired \ .
CURRENT LIABILITIES Accounts payable—general
(subsidiary) Payrolls “iia
Common and medium 6.00 , LAMBS
Good and choice [email protected] | Medium ‘and good ... cease [email protected] | Common [email protected]
U. S. STATEMENT
WASHINGTON, Feb. 28 (U. P.).—Gov ernment expenses and receipts for Te current fiscal year through Feb. 26 ecompared with a year ago:
This Year Last Year Expenses $ 63,071,868,925 $59,347,095,663 War Spending 51, 782,136,444 55,489,404,670 Receipts . 27,323,418,982 Net Deficit 35,748,449 443 Cash Balance 17,613,210,001 19,460,603 487
34,340,733,247 |
price increases unless approved by Stabilization Director Fred M. Vinson.
LOGAL PRODUCE
Leghorn hens, |
Advertising Club
E. J. Wynn, former U. 8. armyair corps captain who wrote “Bombers { Across,” will speak -at the Indian- | 2polis Advertising club luncheon to{morrow at the Indianapolis Athletic
club.
Heavy breed hens, 24e. alc
Broilers, fryers and roasters, under b| Old roosters, 15c. Eggs—Current receipts, 3le; large, 34c; grade A medium, le; small, 26¢c;: no grade, 28¢c Butter—No. 1, 50c 49¢: No. 2. 36¢c
Scott Paper Co, and subsidiaries, | 411944 net profit $1,566,220 or $1.96 a {common share vs. $£.534,926 or $1.91 | in 1943.
grade grade
“Butterfat—No. 1
Working Bal 16,860,206,220 18,697919.119 Public Debt _ 234,574,335.445 186,832,289.061 Geld Reserve 20,506,144,502 - 21,721,672,934
INDIANAPOLIS. CLEARING HOUSE
$ LRI7,000 75.000
Clearings . Fe. Debits eos ona . 18,7
. 120,654 00d
| Debit * 378,225,000
Debits
General Paint Corp. year ended | | Nov. 30 net income $430,444 or $1. 45! a common share vs. $383,050 or $1. 16: | previous year.
$190,000 HOMER J. WILLIAMS
(An Indiana Corporation)
Mat Denominations $500-$1
Dated Janugry 1, 1945
Security: on certain real estate, machinery, equipment property located in Indianapolis, Indiana.
mortgage, is now being constructed on the com Jocated at. 38th and Orchard Streets, Indiana
“WILLIAMSON'S WELLMADE.”
PRICE Yielding 5%
and should be read prior to the purchase of
Messis.
Ross, McCord, Ice & Miller, Attorneys, Indiana. . °
; s Ancorporeted 1924 - 417 Circle Tower y INDIANAPOLIS
February 28, 1945
EE a
Offers and- Sales Made Only to Residents of the State of Indiana
5% FIRST MORTGAGE SINKING FUND BONDS
,000
Security Trust Company, Indianapolis, Indiana, Trustee City Securities Corporation, Sinking Fund Agent These bonds are secured by a closed first mortgage
A modern candy factory and office building, which will be included under the
The company markets its products under the trade name
100. and Accrued Interest
J The offering prospectus states further imporfant information
Copies of the prospectus may be obtained from the undersigned. AIT legal matters have been prepared and approved by
CITY SECURITIES CORPORATION
|
ON, INC.
uring January 1, 1958
and personal
y's property lis, Indiana.
these bonds,
Indianapolis,
Ly
Ll ncoln 3535
kd
ACCRUED LIABILITIES: Taxes
Liability insurance and miscellaneous
seesnese
Less Reserve for Uncollectable Accounts.
Silable products, materials and supplies
Citizens Gas Company—Gold Bond "2 deposits TiEssis rete
Gas Plant Revenue Bonds 1935 discount
Revenues Bonds;
Issued—June 1st,
City of Indianapolis Gas Utility Revenue Bonds; interest 3's” per annum, pavable Issued-—May 1h
1944
REPORT NUMBER 37 AND ANNUAL REPORT NUMBER 10 AS OF DECEMBER 31, BOARD OF DIRECTORS OF THE DEPARTMENT OF UTILITIES OF THE CITY OF INDIANAPOLIS Filed With the City Controller February 28, 19456 Indianapolis, Indiana. The Board of Directors for Utilities of the Department of Utilities of the Of makes its quartely and annual accounting for the pert
Dear Sir
January 1, 1944, to December 31, 1944.
Such report consists of the following statements: Assets, as of December 31, 1044; Liabilities and Surplus, as of Des bey 31, 10444 Operating results for the three months ended.December 31 1044 Operating results for the twelve months ended December 31, 1944" Analysis of Surplus for vear ended’ December 31, BOARD OF DIRECTORS FOR UTILITIES 2 HENRY I. DITHMER, President: ROY SAHM, Secretary | [email protected]| pEpoRT OF THE BOARD (OF DIRECTORS OF THE DEPARTMENT OF UTILITIES [email protected] | THE CITY OF INDIANAPOLIS 11. '®! OF ASSETS AND {IABILITIES UNDER R ITS ¢ CONTROL AS OF DECEMBER 31, 104
1944, Fespecttally submitted,
$20,307,767 48
179,460.07 $20,437,227.56
6.004,882.44 $13,580,340.08
$ 1,177,120.20 762,335.88
794.482 38 32,146.72 ‘829, 740.62 1.14297
180,000.00
31,328.08
184,333.34 37,813.69 v
Cash deposited in Binking Funds for
1,381,152.81 1,047,036.67
68,303.63 § Sos" 8,646.67 177.7127.93
dus annum, payable 1935. . 8.000.000 00 034.000 00 § 7,086,000
due
1942 15.000.000.30
‘556,000.00 4,344.000.08
$ 300,330.99
90,509.67 2,501.38
Accounts payable—Milburn By- Products Coal Company
402,982.04
veo.§ 172,485.80 accruals ., 17,899.54 100,365.14
OTHER LIABILITIES: Interest. on Revenue Bonds—funded Consumers’ meter deposits Interest on consumers’ Special service deposits Unclaimed wages and accounts
Gas Utility Revenue Bonds 1942 premium inamortized
Miscellaneous suspense
RESERVES:
3 37,813.62 . 253,316.35
meter deposits ...
5 3 26,076.64 431,806.50 =
Amount necessary to complete redemption of Citizens
Gas Company Bonds
By-products sales expense reserve .........ceeess0000000
Miscellaneous reserves
S8URP, TOFAL LIABILITIES AND SURPLUS Notes: 1. C of Indianapolis Gas Pla $182,000 00 are due for retir 2. City $134,000.00 due for ret 3 City of Indianapolis 1970, 1971 and 1072, 1, 1944
renfen Gas Ut in the an
ity Revenue Bonds of 1942. due 1068
31,323.02 14,240.19 24,214.62
75,008,351,265 EURPL vs APPLIED TO BOND RETIREMENT , us
$19,519,450.38
nt Revenue Bonds 1935 in the amount of
of Indianapolis \Gas U tility Revenue Bonds 1942 in the amount of
June 1, 1945 1969, §
yount of $1,400,000.00 were retired Decembeg
REPORT OF WHE BOARD OF DIRECTORS OF THE DEPARTMENT OF UTILITIES |
f OF THE CITY
OF INDIANAPOLIS OF THE RESULT OF ITS OPERATION OF
| CITIZENS GAS & COKF UTILITY AND OTHER PISCAL AFFAIRS, DURING
THE PERIOD BEGINNING OCTOBER 1,
31, 1944 AND YEAR— JANUARY
Period—October 1, to December 31, 1944
OPERATING REVENUES: Gas
Coke Coal Tar ....... Ammonia ‘ Water Gas Tar . Gas Appliances Miscellaneous
58,887
4.381
Total Operating Revenues DEDUCTIONS FROM REVENUES Cost b products sold $1.731.291 Gas distribution expense Commercial and new ness expenses . Administrative expenses .... Uncollectible bills ' Taxes 1
busi-
Total Operating Deductions
Operating Income—excluding fixed operating charges ' FIXED OPERATING DEDUCTIONS: Depreciation ..
Net Operating Income | oN- OPERATING INCOME Management service revenue a Amortization of Gas Utility Revenue Bonds 1942--premium
Total Non-Operating Income
| | | | | | Gross Income | DEDUCTIONS FROM GROSS INCOME | Interest on revenue bonds Miscellaneous interest Amortization of bond discount and expense . " Miscellaneous expense
Youal deduction from Gross Income
Income before “provision for bond retirement and provision for payment in lieu of taxes PROVISION FOR PAYMENT IN LIEU AXES TO CIVIL AND SCHOOL oh OF INDIANAPOLIS \ .
* Net
SURPLUS APPLIED TO BOND RETIRE- - MENT. .. ‘ee nanan :
NET INCOME AFTER PROVISION ‘ POR BOND RETIREMENT AND PROVISION FOR PAYMENT IN LI OF TAXES EXTRAORDINARY DEDUCTION: Call premium on $1,400,000.00 Gas ¥ lity Revenues Bonds eiired Deber 1, 1044 o
NET JNcoME APTER PROVISION FOR BOND RETIREMENT, FOR PAYMENT IN LIEU OF TAXES ND PAYMENT
A or CALL PREMIUM
SURPLUS: .Balance—December 31; €h943
Vision for bond Teliroment.,
SURPLUS APPLIED TO BOND Balance—December 31, 1
' Ba cember 31, 1044
he wove
«$1,120,841 89 1,388 6A7.28
56,280 60
28,686 08 23,559.10
106,168.21 fn. 427.07 73.828.28 2,107.01 2,485.60
530.90 2.780 50
$120,715.74
Add: Net income for the year ended ‘December 31, 1044, after pro-
1944, AND ENDING DECEMBER 1. 1944, TO DECEMBER 131, 1944 1944 Year—January 1, 1844 to December 31, 1044
$4,187,931.00 5,869,300.14 74 246,380.10 186,826.29 67 17,032.61 90,818.22 86,506.74 ! $2.681,304.38 $10,863,804.19 | 10 $7.023.538 58 305,085.76
233,070.82 250,901.01 9,970.92 50.877.18 | 7,005. 244.00 | — | Sw i $ 2,898,650.1% | 723,253.58
$ 2,175,306.24
1.956.307 88
$ 694,006 51 225,997 88 $ 468,008.63 530.99. 4,902.44 5,433.44
rg te
§ 2,180,820 69
3.311.490 $ 472,310.12 $498,778.78 8,765.71
13,481.74 7,379.60
1,718.08 3.33621 1,786.45
$127,556 48 $ 526,408.80
$344,753.64 $1,664,423 80
160,000.08 $1,404,423.80
303,754.79
$304,753.64 77.170.97
$227,582 67
«140,000.00
’
§ 87,582.67 1.00.400.11
REPORT OF THE B30ARD ‘OF DIRECTORS or THE DEPARTMENT OF “UTILITIES P THE CITY OF INDIANAPOLIS or SURPLUS FOR. THE YEAR ENDED DECEMBER 31, 1944
$4,438,303.50 . 1,060,660.11 146,480,002.00
CRS ARLaR ean iad
V Ceereserareessasesariiasianns
9 . Add: <AppzopTiation from earnings for yoar 1944
i Aly
a eo BS TRB ’ :
bargaining |!
3.110,340.09
200.,700.9
230,006.99 | $10,519,40.39 * Includes property of Indianapolis Gas Company acquired May 1, 103. tracts
** Includes merchandise fasta contrac ILITIES AND SURPLUS
ons Pe pu wd Zo J
- HMA HEAD 5 4
nN