Indianapolis Times, Indianapolis, Marion County, 1 July 1951 — Page 4

box, : But that surpiia of about $4 lion—give or take a few | million either way—and increas

impact of biilion-doliar-a-weelk defense bills, The exact Treasury figures of government expenses, receipts, supplus, cash on’hand, and public debt for fiscal year 1951 will not be known until early next week, The latest report on the Treasury position-—through June 27— shows expenses, receipts, surplus, ‘and cash balance up considerably from a year ago—and the public debt down more than $2 billion,

receipts will melt away under the ||

The surplus as of Wednesday

there was a deficit of $2,113,803, 658.80, Figures Cited In round figures, there were expenses of $43.2 billion in fiscal 1951 against $38.8 billion a year) ago; receipts of $47.5 billion against $5.3 billion, and public) debt of $254.4 billion against $256.5 billion. | Higher taxes imposed last Oc-| tober and the highest corporation profits in history brought in con-! siderably more money than President Truman estimated in submitting the1951 budget in aJnuary, 1950. And a surplus resulted instead of the President's esti-| mated deficit. Mr, Truman's estimate of 1951 expenditures also missed; He sald they would be! $47,210,000,000, or $4 billion ahead of what they were, | The receipts this year are the largest in history, even exceeding the 1944 war year when they reached $44.7 billion, The surplus is the third since 1630. All occurred after World War II. Since the Constitution was adopted in 1789, the government has operated in the black 87 years, Federal operations have shown a deficit in 64 fiscal years.

Board to Consider Easing Car Terms

WASHINGTON, June 30 (UP) ¢ «Chairman Burnet R. Maybank of the Senate Banking Committee said today the Federal Reserve, Board will meet Monday to con-| sider relaxing installment buying terms on automobiles. He told reporters that Federal Reserve Chairman William MeC, Martin Jr. assured him by telephone Friday night from Reading, Pag that the boayd wil: -eqnsider automobilé ‘termes Moz Say. >) Present {8rmis are one-third down -and 15 months to pay on new and used cars,

Three B-36s fo Yr Over European Capitals

LONDON, June 30 (UP) —Western Europe will get ita first view of the B-38, the United States’ _ biggest bomber, when three of the craft fly over the capitals of _ France, Belgium and The Netherlands tomorrow: The three planes, which rived on a non-stop flight from Texas yesterday, will: first fly over London at 3000 feet, -then over Parls, Brussels and The Hagaze.

ar-

Truman Cruises Again WASHINGTON, June 30 (UP) * wPresident Truman left late to day aboard the Presidential Yacht Williamsburg for an overnight trip down the Potomac River, He will return tomorrow afternoon.

Now Fecturing New Roofless Plates

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RETIRING RAILROADER—Almost 45 years with the New York Central System ended today for was $4,382,332,770.44. A year ago| 67-year-old L. W. Bell, 260 N. Rural St., an engineer since 1910. Leaning from the cab of his decor- | ated engine, he receives best ‘wishes of friends and | company officials as he starts on his last run.

Protests Fail

| head off the increase today. But

Effective: Tonight

The Indiana Bell Telephone Company raises its rates by per‘haps $6.5 million a year tonight, |

Judge Lloyd Claycombe of Marfon circuit court refused to grant a state request that he vacate]

: his two-day-old order giving the!

utility a temporary injunction, against the state public service! commission.

The injunction meant Bell could] raise its rental rates in 82 Hoosler| cities July 1.

State Attornex Gen. T. Emmett! McMangnon and PSC Public Counselor Walter Jones; tried to

Claycombe would not vacate his order, although he said he would reconsider the dissolution motion next week If Jones wanted to file an affidavif supporting his position. i {

An expert's viewpoint on sports| is provided by Oscar Fraley, |

United Press sports columamist, in |The Times sports section.

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