Indianapolis Times, Indianapolis, Marion County, 13 November 1947 — Page 31

in SS ATM 4 1A I.

+ J THURSDAY, XOV. 13, 1047

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ATCHES

THE INDIANAPOLIS TIMES INDUSTRY STARTED IN 1891 3s tin plate industry was es-| tablished in America in 1891 largely! fof the production of tin cans for

CAMERAS /

? .

I living.

gas Fight on mE

Farm Co-ops |

Tells House Committee

Of Market ‘Rigging’ |

By JAMES DANIEL . Seripps-Howard Staff Writer WASHINGTON, Nov. 13 — Busiessmen who are asking Congress ob revoke special privileges for coratives are punching holes in widely held theory that a coperative is always right. Raymond Skinner of Memphis is he principal hole-puncher in the louse Ways and Means Committee maring which is gow looking into ax exemptions and other evidence] f official benevolence toward coperatives. Mr. Skinner is a partner in a nilk-butter-and-egg business which

as béen able to lick the competi-| -

lon of the nation-wide dairy chains. He also won a victory in Memphis ainst tax-exempt airy farmers who tried to break ito the processing and distributing eld. Tells of Butter Deal Mr. Skinner charged that some armers had gone beyond simply tecting their legitimate interests. r instance, he cited what hapened last winter in the New York utter market. By an order of the Agriculture department, the price of milk in few York, Washington and a

CHURCHILL PAINTING—This is the cover of a greeting card, painted by Winston Churchill, «that friends of the former prime minister will receive this Christmas. It is a view of Lake Geneva, with the small island of Choisi in the. center, ‘which he painted during his 1946 visit to Bursinet,

Bring Your

VY PUA SEARS,

ROEBUCK & CO.

co-operatives ”

fassachusetts area was tied to the verage wholesale price of butter in few York on certain days of each wonth. ‘ The higher butter went, the highr milk would go. At the end of

ach month there was a mysterious § urge of butter buying in the New § ork wholesale market. {8

Late in January, the Dairymen’s eague co-operative Association of few York pleaded gulity ny foderals burt to having used $561,755 of the

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rague’s funds to buy 668,060 pounds &

[ butter.

The cost of this manipulation was #

fraction of the estimated $15 milon the co-op had exacted from onsumers through higher milk rices. Cites Tax Benefits | One of the commonest arguments br granting co-operatives special avors is that they reduce the cost

Mr. Skinner gave the following as pical: | The Southerh States Co-Opera-fve earned $1,400,000 in 1946, paid

4117,000, or about eight per cent, |

n various state -and local, and So dal Security taxes. A regular corporation with that income would fave paid $532,000 additional as’ lederal income tax. Besides tax immunity, Mr. Skin-

E NOW « MILLIONS AR ”

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a,

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The. RIE

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jer says the government has as- £4 fisted dairy co-operatives in such &= Ways as these: Appointing their offcials as the government's butterbuying agency during the war; eximpting them from the operation pf the anti-trust law, and providing government credit on lenient terms.

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EIT | | suasric concer It is up to us all to see to it that our government policies are so

. shaped that they do not hinder or ‘penalize the invested dollar . . : ; or HOME PERMANENT for the invested dollar is the bedrock on which all progress and 0 ”" Deluxe Kit # 2 a prosperity is grounded. lar Ki, : cur

i FOOTNOTE FOR INVESTORS: From its 155 years as the oF 125 nation’s principal market place for securities, the New York Stock ; A . Refill, Exchange has learned this: This market serves investors best, and the ma upSdieny nation best, whea its facilities are used ly—when securities are Ta 100 bought and sold solely on the basis of facts. Not tips, not rumors. FACTS! WHS.

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Dollars can do much, or they can do little. They can be lazy, or hard-working. Useful, or well nigh useless. For dollars take on the character of those who have them.

hoone, leaving little of value can be put to work—and they who earned them but to

The spendthrift's money i behind. But the dollars of then become useful not o all our people.

Why is America wealthy?

Because Americans are productive. Because, generation after generation, our people have produced more than they have

s : i Lb : Dollars are as different Soom sore eps oe oe skillful labor; all resulting in the production of still more goods a8 the people who have them

and better goods for everyone.

This upward march in our standard of living is sparked, every time, by those who put their dollars to work through investment.

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