Indianapolis Times, Indianapolis, Marion County, 16 December 1949 — Page 39

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220 Says Public . | J Pays Veteran Risk Dividend

For $2.8 Billion,

Crane Declares

Taxpayers will give ex-Gl's most of their $2.8 billion dividend on National Service Life Insurange policies next year, This was the charge made by E. A. Crane, former trustee of the National Association of Life Underwriters, in a talk here today. Mr, Crane, local general agent of the Northwestern Mutual Life Insurance Co,, led a discussion on NSLI dividends at a luncheon: meeting of the Indianapolis ALU in ‘the Hotel Lincoln. “Research indicates that 83 per cent of the dollars paid in claims on NSLI policies have been from taxpayers’ funds,” Mr. Crane sald. “Only 17 per cent of these dollars paid in claims has been from premiums contributed by servicemen.”

ITE | Taxpayers Must Dig i i

8-Year Accumulation

Mr. Crane told the meeting that “dividends to be distributed in 1950 on NSLI represent an eightyear accumulation of dividends.” “During those same years, American owners of dividendpaying policies in legal reserve life insurance - companies have received nearly $4 billion in policy dividends,” he said : ae Mr. Crane quoted from a } recent news statement of Carl R. Gray Jr, administrator of veterans’ affairs. The statement said “it is perfectly true that the government assumes certain financial obligations in connection with GI insurance. First, the government assumes the cost of administration. ‘These expenses are paid from VA's regular -appropriations,

3

How It’s Done

"Second, Congress appropriates funds to cover the cost of all @ i SERRA SET ACR Tes YE from extra hazards of service in the armed forces. “In addition to these subsidies for administration costs and extra hazards, the government subsidized the. insurance fund by issuing for its exclusive benefit special government securities,” Mr. Crane said. “These securities have a 3 per cent interest rate which is substantially in. excess of interest rates on publicly owned government bonds,” Mr. Crane stated. Nathan P. Paulus of Lafayette,

president of Indiana Leaders Round Table and member of the } national Million Dollar Round :

| Gray Ladies Plan | | EVERY DAY

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& 4 n » 2

9.50 9.50 9.50 9.50 2.50 9.50

2 SALES EVERY DRY STARTING

1 0.50 { STARTING To Distribute Gifts L a i ml os Me 4.95 i Veterans Hospitals = o . 2 . 9.50 © To Be Visited 9 50 Red Cross Gray Ladies will ' distribute gifts to patients at 9.95 Cold Spring Road and Billings 5 UP Veterans Hospitals Christmas

9.95 a events for hospital 1.50 patients’ and Ft. Harrison serv- [ a " fcemer. were announced today by . Tr M Walls C. T , chair- 2 ICES man of Red Cross volunteer serv- # % : SH ices iL o 00 “Seventeen Red Cross chapters ee e— ’ hav ( ib gifts, G : : 9.50 Lady volunteers will tie Christ. : 50 mas stockings at the foot of . * : 9. each patient's bed. i === 9.50 A party for Billings Hospital ll EE. . HH Wednesday, A similay event was I — I . \ - ; hel es : £ z il Hi so ph GES WE ARE ORDERED! | dat "ePEED" Vol pers wi istrit - it 1H * * — emi te wl C.L."SPEED" BARTLEY, the auctioneer is following Mr. Rollin Stewart's orders! "SPEED decorate a tree in the old (ll . . ’ i ! ] . : LS nt es | ||| surviving stockholder of | | is the name for the way he sells! The goods must be sold to the BARE WALLS!! Choose from . will gift wrap Christmas pack- il Hartmann’s, since the death || - ' : ) vik tn hrieimas "* Bll of L. Russell Stewart, has or- || America's better makers; the kind Hartmann's have been known for during the past 56 Hutson fo Call | gered ee Ta iiances Hi years-Jamestown, Grand Rapids, Rockford . .. Everything must and will be sold to the re. Silicosis Conference i ’ lil IGS State Labor Commissioner fi sold at PUBLIC AUCTION, ti HIGHEST BIDDER! ; ' AGE will cal a ‘vonterence In the near [| [||| tO assist in closing the estate |

future to map out a code for the of his deceased brother. control and prevention of the Hi silicosis menace in Hoosier clay “plants, {it oo - Mr, Hutson said “the silicosis i | IMPORTANT! il menace, caused from dust, was il TIME . I discussed yesterday in Brazil at Hi v {it

Emenee with labor and man- i C. L. “Speed” Bartley Sr., (it

The commissioner sald a new [| famous auctioneer of Terre || code would be worked out regu- {ii . | cay industry. || Haute, Ind. has been 'n- | WE MUST SELL $90, 0 00 WORTH AS SOON AS P clay industry. ill i ;

OUR FLOORS ARE COMPLETELY RESTOGKED FROM OUR WAREHOUSE EVERYTHING THAT WAS SOLD HAS BEEN REMOVED FROM FLOORS

ENT

It igs, lines,

structed to sell faster than

Now Augusta Masons l Ts ery hiohest Sidr i If you were in the opening day of the auction—you saw this mammoth store; 55 thousand 0 ns a i I i " Ly Hosbrook Masonic Lodge 473 of il in the SHORTEST POSSI- ||! square feet jam-packed with furniture tagged “Sold.” All this has been removed and new

New Augusta will install officers for 1950 at a public meeting in the lodge Dec. 30. Netw officers will be L. E, Head, worshipful master; Roy Gammons, senior warden; Clell Taylor, junior warden; Joseph Needler, treasurer; Paul “R. Young, secretary; Raymond Starkey, senfor deacon; Richard Fields, junior

deacon. Also Andrew Fields, senior steward; Charles O. 8pencer, junior steward; H., O. Leonard, chaplain, and Denzel Waltman, tyler. _ PAY You - 12 tablets MORE for 10¢, 100 for 4b6c¢. ACCEPT Than the name St. LESS Joseph’ guarantees. - Joseph AspIRINg LJ i

WORLDS LARGEST SELLER AT 10¢

== § FURNITURE CO.- 317 E.WASHINGTON

Capitol Ave. at 28th St.

OPEN or

lil BLE TIME! NOTHING WILL | goods is now in its place, brought in from our Warehouse—two-thirds of the $300,000 we [ih || BE RESERVED! il started with has been sold at Give-Away Prices—NOW YOU CAN BUY THE REMAINING $90,000 AT YOUR OWN PRICES AT AUCTION.

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