The Mail-Journal, Volume 7, Number 50, Milford, Kosciusko County, 13 January 1971 — Page 11

Webster Bank Resources Reach An All-Time High

- The Farmers State Bank of North Webster reported resources at the close of business December 31,1970, at an all-ume high of $7,528,716.83, according to Edward R. Likens, executive vice president. This represented an increase of $745.651 62. from the figure a year ago of $6,783,065.21 Loans. Deposits Up Loans and deposits were also up over a year ago. Mr. Likens pointed out. Loans jumped up $497,444.22. ' from $4,166,624 21 to $4,664,068.43, and deposits jumped up Nonfarm Employment Increased: Coppes Between. mid-November and mid-December, Indiana's nonfarm employment total increased by nearly 30.000. John F Coppes, director of the Indiana Employment Security Division, reported today. He said preliminary estimates indicate that some 1.833.800 persons were at, work on nonagricultural jobs at the middle of last jponth. contrasted to in November.

-Closed For The WinterSee You In The Spring Thank You For Your Patronage CHINESE FOOD AT » "DINE IN ORIENTAL SPLENDOR SOUTH or SYRACUSE—ROAD 13 «

U \ 4 A g\ sn&nj / NORTH WEBSTER. INDIANA 46555 STATEMENT OF CONDITION December 31. 1970 / RESOURCES OFFICERS Cash and Due from Banks . . $ 404.947.47 J. Homer Shoop .... President US. Government Securities . . 1,319,235.50 Edward R. Likens . . Exec. Vice President “«■*** *£• Loans and Discounts 4.664.068.43 o , „ Leo J. Kierem . . . Vice President Banking House and Fixtures . . 55.687.20 . , 0717 rn Walter E Shoop Vice President Other Asse s . Donald L. Watkins . . Assistant Cashier Total . . . ... . $7,528,716.83 Marlene J. Wagoner ... Auditor LIABILITIES DIRECTORS Capital Stock .......$ 50.00000 Chris Schenkel, Chairman Surplus 500 000 00 Dolores M. Bachelder Undivided Profits . 67,260.28 Reserves . . . 53,404.89 Kiere,n Deposits 6.443.050.96 Edward R. Likens Deferred Income 415.000.70 *!■ Homer Shoop Walter E. Shoop Total $7,528,716.83 ACCOUNTS complete .c6.»ri . J \ time Ctl»TiriCAT£S f SAVINGS ACCOUNTS / CHRISTMAS CLUB SERVICES. | \ FULL SERVICE WA LK • UF WINDOW * A B A N M - 8 Y - M A I L > 24 HOUR DEPOSITORY / LOAN DEPARTMENT f MONEY ORDERS / \ AUTO LOANS I TRAVELER'S CHEQUES \ I \ MOBILE HOME LOANS SAFETY DEPOSIT BOXES > ? | / BOAT LOAN Si X I COMPLETE INSURANCE SERVICE / f REAL ESTATE LOANS I PERSONAL LOANS FDK I INSTALLMENT LOANS • • <s. ■ -

$523,243.14, from $5,919,807.82 to $6,443,050.96. Officers of the bank’s board are J. Homer Shoop, president; Edward R. Likens, executive vice president and cashier; Delores M. Bachelder. Leo J. Kierein. and Walter E. Shoop, vice presidents; Donald L. Watkins, assistant cashier; and Marlene J. Wagoner, auditor. Internationally known ABC sportscaster Chris Scbenkel is chairman of the directors, serving with Delores M Bachelder. Leo J. Kierein, Edward R. Likens, J. Homer Shoop and Walter E. Shoop ? Manufacturing employment increased after the settlement of the labor dispute in the autoindustry There were seasonal cutbacks in employment in some nonmanufacturing industries Mr. Coppes said unemployment dropped to about 115.400 from 131.400 in November and the seasonally adjusted rate went down from 6.3 per cent to 6.1. In December 1969 when employment was estimated at 1.884.800 and unemployment at 60.300. the rate was 3.2 per cent.

$316.81 Million Collected In State Taxes Indiana State Revenue Commissioner. James O. Mathis, announced today that the collections from the three major taxes in Indiana, individual income tax, sales tax and corporation tax. totaled 316.81 million dollars for the first six months of the 1970-71 fiscal year. Mathis said that these collections represent an increase of 18.1 million dollars over the amount of revenue that had been forecast to be collected during* the same period. A breakdown of the collections showed that 113.66 million dollars was collected from sales tax representing 4.13 million in excess of the revenue forecast; 116.03 million dollars from individual income tax representing 12.86 million over forecast and 87.12 million dollars from corporation tax representing 1.01 million dollars over the revenue forecast. The revenue forecast is the amount forecast by economists and is the basis of budget preparation in th| General Assembly; therefore, collections in excess of revenue forecast represent money collected that was not budgeted and therefore reflects in the general fund surplus It appears.said Mathis, that in spite of a general economic slow down, income and business were generally good in Indiana during the first six months The poor showing of the corporation tax in relation to the other taxes reflects a decline in corporation profits which virtually wiped out the corporation net income tax. This situation placed almost full reliance on the gross income tax that is still levied on corporations and which accounted for almost all of the corporation collections during the period. Mathis said that in the 18 months since July 1, 1969 when the revenue enforcement programs got in full swing, revenue collections have exceeded forecast by almost fortymillion dollars without a rate increase in any of the three taxes. He said these extra collections plus the economies resulting from the Governor's

economy program were major factors in maintaining the healthy general fund surplus and the state’s sound fiscal position in spite of holding to the Governor’s pledge of no increase in state levied taxes. Although Mathis would not forecast what collections would amount to in the coming six months, he said that he felt the rate of collections could be maintained at present levels unless a decidedly adverse economic condition arises. The effect of the recent automobile strike has not been fully felt in tax collections but should be offset by the end of the fiscal year. Mathis said that several new enforcement ere in the process of being initiated in certain areas of non-compliance, particularly in the area of misuse of exemption certificates for purschases without the payment Os sales tax. Another area of concern to the department of revenue is the increasing number of retail merchants that are becoming delinquent in remitting sales tax. Mathis said that be felt the tight money situation was primarily responsible for the number of delinquent retail merchants; however, since such delinquencies represent money collected by retail merchants from the public that belongs to the state, very stringent enforcement programs will be envoked to make sure the sales tax is paid to the state. It may be necessary. Mathis said, to ask the Governor and the budget agency for additional personnel to enforce sales tax. At the present time, auditors and field representatives collect almost Ho in delinquent tax for every dollar of expense; therefore, an increase in the staff can be well justified by increased revenue. Glenn Slabaugh Sentenced Sentenced to two days in Elkhart county jail was Glenn J. Slabaugh. 21. r 2 Milford He was also assessed a fine of S6O in Nappanee city court after pleading guilty to malicious trespass and destruction of property. According to Nappanee city police. Slabaugh reportedly slashed seiits in a restaurant.

71 Com Planting Suggestions LAFAYETTE — With normal cytoplasm (blight resistant) seed corn supplies limited. Indiana farmers are looking for ways to get maximum 1971 production in this situation. William D. Reiss. Purdue university extension agronomist, offers these suggestions: Plant early as possible. Texas male sterile i blight susceptible) hybrids should be planted as soon as soil temperatures warm to 52 degrees F. These hybrids may mature sufficiently before blight strikes so the infestation will not severely reduce yields, i If the T cytoplasm hybrids are planted by early May, the farmer should plant his blended seed next and his normal cytoplasm hybrids last. However, if planting is delayed until mid-May, the normal cytoplasm seed should be planted second and the blends last. If normal hybrids are planted too late in the growing season they will lose yield potential even though they are resistant to leaf blight. Most hybrids will yield near their maximum potential with a harvest population of 18.000 to 20.000 plants per acre. T cytoplasm and blends should be planted at populations used in past years. Experiments indicate that harvest populations can be reduced to 16,000 plants per acre with only a 10 to 15 per cent yield reduction. So, if you want to “stretch" your normal cytoplasm seed you can drop the harvest population from 20,000 to 16.000 plants and plant 25 per cent more acres to the N seed. Soybeans and grain sorghums can be considered for alternate crops to corn. Production technology and farmer experience with soybeans make it an ideal alternate crop. However, if livestock feed is needed, grain sorghum can substitute for corn and supply 90 to 95 per cent of the feeding value. County Cooperative Extension Service offices have information on sorghum production and performance. Leesburg Man Treated At Hospital An auto driven by John R. Fritz. 22. Waynesboro. Pa., was following a Kosciusko countyhighway truck Friday afternoon when the truck signaled a turn. Fritz pulled into the left lane to pass the truck and collided with a car driven by Alvin E. Schellschmidt, 64. Leesburg, as he was attempting to make a left turn. Schellschmidt was treated at Murphy Medical Oerter for facial cuts and a shoulder pain. He was later released. Damage w-as estimated at S7OO to the Fritz auto and SISOO to the Schellschmidt car. The accident occurred at the intersection of East Center and Bronson streets in Warsaw.

lr AM PR Ell ’C Meat 1$ Our Business I IvAIVII DELL J Phone: 65M164 MILFORD I Bo den\ Pt. ——< If BEEF y f S FREEZER Half t Half 296 | IIU.S. D. A. Good I C, , , . Z.' . I 1 1ForeOt_lb...S2< OIEO .4 796 | HindQLlb... Mt t K , J ." F , Il</ 2 8eef,1b....59c | m .[k ' ‘ 696 ■ Pl I Llt GaL V > ■ USDA ' ~H| ■ T-BONES ib. sl29 ± den ’* F— — z ICE CREAM |BACON ib. 65c CQt I Emge 12 Ox. All Fevers ' ‘ GAk [WEINERS Mr- I -k n 11 O • 1 Richelieu Red 303 Can I Ecknch Bulk Sliced Vlltkirw hoiom_-w< Sl f“ 896, I A Weber’s 1% Lb. Loaves I ' 1) fl BANQUET FROZEN I A bread 4l~9BcX PIES 5 896 1 F*sLL ßeg BANANAS I lISUGAR I t'xlj-'lO6 POTATOES II 596

.yr Vj ■ »\AW / I i Hg < ■ ... BhilhigH <£ ■ ■ — 5 v £ ■ IB I rr a b B l.:. Vfl CATHOLIC CHURCH — Fr. Eugene Zimmerman, pastor of the St. Francis Xavier Catholic church in Pierceton since 1961. is shown in front of the 107-year-old structure which will be replaced this year. The new church will be behind the present parsonage and facing west. Seating will be increased 50 per cent, from 100 to 150.

To Cost $60,000-$65,000

New Catholic Church Planned

Permission has been granted by the Fort Wayne-South Bend Diocese to replace the old church building at St. Francis Xavier parish with a new structure. The present building which has served the Catholics of the area for the last 107 years will be torn down and replaced with a colonial style frame building. The new structure will be built facing

Wed.. Jan. 13, 1971 — THE MAIL-JOURNAL

Fifth street in Pierceton and will seat 150 persons. Schumacher & Sons. Mishawaka contractors, will act as general contractors and heating, lighting and plumbing will be handled by Juday Electric of Cromwell. Ind. To Use Old Building While the new building is being

constructed, the old church will be used for Sunday services. Plans, also, include the leveling of the land around the church for an off-street parking area for parishioners. Estimated cost of the project is between $60,000 and $65,000 and will begin sometime in the spring of this year. Completion date is set for June 1971. y This announcement was made by Fr. Eugene Zimmerman, pastor of the St. Francis Xavier parish to the people of the parish on Sunday, January 10. Huntington College Offers New Adult Education Program Beginning the second semester, Huntington college will offer late afternoon and evening college credit courses, at reduced tuition rates to accommodate adults who wish to start or continue their college education. Tuition, for this program only, will be reduced from S2OO per course to SIOO per course. To qualify, a person must be 25 years of age or older and reside in Huntington, Adams, Allen, Grant, Wabash Wells or Whitley county. All courses will be taught by members of the college faculty and will also be open to all regular students at the college. All adult applications will be considered regardless of previous high school or college work. If accepted, adults in this program will be allowed to take two courses each semester or four courses each school year. Classes will begin February 2. Applications are being accepted now and interested persons are asked to contact the registrar’s office, Huntington college, Huntington. * CORRECTIONS: IT'S BOWEN, NOT BROWN Last week’s paper stated Miss Betty Weimer and Robert Brown were wed in a double ring ceremony On December 26. This was in error as the bridegroom’s name was printed incorrectly. Miss Weimer of North Webster was in fact married on December 26 to Robert K. Bowen of -r 1 Silver Lake. ° The newlyweds are residing on r 1 Silver Lake after honeymooning in the southern and southwestern states.

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