The Austin Daily Herald from Austin, Minnesota on December 17, 1958 · Page 5
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The Austin Daily Herald from Austin, Minnesota · Page 5

Austin, Minnesota
Issue Date:
Wednesday, December 17, 1958
Page 5
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Text of Speech by Corey Tflrt c* $tecft by ft» ft. Corey, 0*», A, Borfttel chairmani It Co. botfd We haw had a fairly good year. That is what our bankera have (old auditor* and ui They, of CHAIRMAN H. H. COREY report*. course, look at what we have add* ed to surplus, what our depredation U compared with capital ex* penditures, aa well as our grow* th and liability, to recent years we hate con- ildered research and development a very necessary and Important part of your company's activities —necessary and important in order to improve old products and develop new ones, as well as to develop new methods and in general find ways to reduce our overall cost of operation in order to Stockholder Investment in Hormel Co. Boosted Investment of stockholders to Ceo. A. Hormel ft Co., Increased during the past two decades from $9,988,043 to $36,636,812, George W. Ryan, treasurer, told stockholders Tuesday night True, he said, some of this In* crease Is attrlbntable to the change In the value of the dollar. "However, this continued and steady growth over the years signifies the care that has been exercised to preserve and increase your investment in the company. . Big Boost This investment, he explained, the difference between the com Ryu pany's assets and liabilities, was $36,636,812 as of Oct. 29, 1958; 10 years ago it was $21,810,282! SO years ago U was $9, 928,043. Ryan's financial report continued: The working capital of the company, the excess of quick assets over current obligations, amounted to $24,603,812, an increase of $939,307 over a year ago. Ten years ago, working capital was $10,716,524; twenty years ago, it was $4,588,466. .The current assets of cash and accounts receivable exceeded the current obligations of the company by $4,916,788. Tangible property, consisting of land, buildings, machinery and equipment, bad a value on a cost basis, of -$39,258,313, and after reserves for depreciation, a net value of $19,125,999. Net sales of $360^51,810 for the year, as compared to $Z65,- 417,684, 10 years ago and $56,921,648 20 years ago, Indicate the progress of the company over the years. Other than the long-term loan, which has been reduced to $7,200,000 from $12,000,000 in 1954, your company had no borrowed money at the end of the year. How Dollar Distributed You may be Interested ta the distribution of the sales dollar of the company for the past year, or on an aggregate basis, the apportionment of the net sal* sum of $360,959,810 into its component parts. To produce and distribute its product, the company last year employed an average of 8,834, with a high point of 9,048 and a low of 1,708. The average employed at the Austin plant and office was 4,547, with a high point of 4,609 and a low of 4,505. At the end of the year, we employed to Minnesota 4,709 persons, with 4,509 people employed to Austin. Our total employment to all parts of the country at the end of the year was 8,792 people. Taxes $4,461,958 Total taxes for the year were $4,461,956. This amount exceeded net earnings of the company by $1,461,565. These taxes included federal income, state income and franchise, real estate, personal property and miscellaneous. The company paid to the Mower County treasurer at Austin over $873,000 for real estate and personal property taxes. During the past year, the company slaughtered 3,956,134 head of livestock, weighing 1,154,3M,. 114 ponds and $53,112,3» was paid for livestock purchased at Aastta. Livestock purchased outside of Austin was acquired largely through five plants and 62 livestock buying stations of the company located to Minnesota, Iowa, Nebraska, Texas and South Dakota. Average Cost $19.35 The average cost of hogs for the year was $19.35 per hundredweight, as compared to $17.19 per hundredweight the prior year. The last week of the year, this average cost per hundredweight was $18.08 for the last week of a year ago, it was $16.11. The average weight of hogs for the year was 246 pounds, the same average weight as a year ago. The sales volume of the company was 1,001,409,OM pounds, a decrease of 58,301,436 pounds under a year ago. This volume of sales was made through sales employes and agents in 270 principal cities of the United States, operating primarily on a sell-to-anive basis, and through 25 branch house and plant units. The total amount fo'money paid to persons and business concerns to Austin and the trading area for freight, express, wages and salaries, dividends, taxes, livestock and supplies was $101,811,544 for the year, or Just a little abort of two million dollars a week. At the dose of oar yew, the compaay had cash OB deposit of $9,086,581 la 72 banks, located to all parts of the United States and oae to Honolulu, Hawaii. maintain ourselves to a competitive position. In the past year we have achieved a break • through to certain plant productions in automation, always a difficult thing to do in packinghouse processing. Steps are now being taken to such processes into operation enabling us to make a better and more uniform product and eliminate much cubic feet of operating space and multiple handling. Also, we have 'developed improvements in certain cures requiring less equipment, less space and less handling. New Machinery Important The adaptation and use of new machinery is extremely important. We are alert to its possibi- [ties and have developed certain adaptations in certain departments that will improve our uni- ormity of weight, our general tandling and our packaging. There tas proven to be an unlimited leld for research and development to simple devices: for example, to stockinetting hams, applying labels or filling cans. Our research and development lepartment works very closely rith the American Meat Institute Foundation, the quartermaster corps of the U. S. military service, and with the U. S. Depart- nent of Agriculture and others to teep pace with developments in he fields of bacertiology, radia- ion, food chemistry, processing and such activities related to the meat Industry. Perhaps to connection with research and development, I should mention a fact which most of you mow: The last Congress passed he Humane Slaughter Bill, an< he President signed it into law it provides that the secretary o_ agriculture appoint a committee of 11 members made up of repre- tentatives from various interests hroughout the country. This com mittee, by March of 1959, is to determine what methods of slaugh *r are humane, and then allow a two-year period fa which mea packers shall conform to humane slaughter requirements as de- ined by the committee. The pen alty for not conforming is that a Jacker will not be privileged to sel lis meats to government agen cies which include the Army Navy, Air P o r c e, Marine Corps government hospitals and schools and so forth. It is important to mention this because our Horme method of humane slaughter seems W ft« th* A..C. NielSeU Mr* ftjf figures show that Spam eon- troll 41 per cent of the American market for that^kind of pro- uct, out nearest competitor 16 nf cent — Hormel chili con came I per eent, nearest competitor per eent - while our Cinty Moon stew has 38 per eent of the market, nearest competitor is eent. Meanwhile, the improvement during the past year in our c a n n e d ham production has been extremely satisfactory, as as been the distribution to most f our canned meat items. Our anned meat tonnage increased or the year, as against a national decrease in canned meat tonnage. In the packing division, which manufactures and distributes the acktoghouse products made up ulk or packaged form, we have made a great many changes which lave been required as a result of ompetitlon. For instance, with the idvent of new and quick cures, i great deal of meat has been sent to our outside processing lants in green or semi-cured brm so that the processing can >e finished on the market where t is to be consumed. This has been found necessary to order to compete with the small processors n the areas to which the product s sold. Tttal Dtitrlbatioi Dalian Cost of products, selling, administrative and general expenses, exclusive of items •hown separately 287,157,168 Wagt coats paid to and for employes ...... 63,828,477 All taxes ., 4,461,956 Sundry expenses and depreciation 2,511,818 Earnings for fee y«*r 3,000,391 Cento •t Sale* Dollar 79.60 17.70 Total* ..»«»««... $360,959,810 .70 40 100.00 Jet Bomber Crashes in Tampa Bay ST. PETERSBURG, Fla. (APV- A stricken B47 jet bomber carrying a crew of four crashed and exploded to Tampa TBay Tuesday night, moments after veering away from a heavily populated residential section. No survivors were found. One body was recovered. A witness said it appeared the pilot, Capt. George E. Whitney of Tampa, guided the six-engine craft away from land seconds before the crash. The plane crashed about 10 minutes after takeoff from Mac- Dill Air Force Ease, across the bay at Tampa. Listed as missing along with the pilot were Lt. Joseph D. Berardi, 25, copilot; Maj. Marcel F. D'Amico, 35, instructor navigator; and Lt. William C. Bieler Jr., 24, navigator, all of Tampa. NEWS HEN DIES TORONTO, Ont. (AP) — Alex- drine Gibb, 66, a news and sports writer for the Toronto Star for more than 30 years, died Monday of a heart attack. She served as manager of Canada's women's track and field teams at four Olympic games. Farm Administrator Soys Outlook Good WASHINGTON (AP) - Dr. Max Myers, administrator of the Agriculture Department's Foreign Ag riculture Service, today described the outlook for farm exports as reasonably good. In remarks prepared for an agricultural economics conference at Cornell University, Myers said however, that exports will never ae the major solution of this country's production problems. BATAVIA, N. T. (AP)-SUto Police here bad to cope with a •kunk wearing a qptca h*to«t. Well, tort of a apace belowt, Sherman Pateraon of nearby Bast Pembroke reported the alunk vaa roaming bis backyard with 1U head stuck ta a botUe, looking •omethtaf Uke a creature from outer apace. Trooper warrea Terryttmy and Pateraoo teamed up, Terryberry tugging at UM bom* and Paterwm gingerly holding dowa the skunk-eUilwUh a long «Ock. Tbey freed fee stank, vboap- pnciattvetr left tt» air atlUtn* aad clear. o have been the catalyst which brought the entire subject before Congress with, of course, an im mediate push being put on by the humane societies. Hormel Method Stands Ont As the matter now stands, J appears that our carbon dioxld. immobilization method of dispatch ing hogs will be an approved method of slaughtering. By Jan. 1 ie win have completed installing Immobilizing equipment to ou four hog slaughtering plants, tht last being the one at Mitchell 5. D. Inasmuch as we now slaugh ter all our beef ta an approved humane method and have been sc certified by the various human societies, we have only one opera Bon to be completed and that is the humane slaughter of calves and lambs here at Austin. Tha facility is now being built so tha wa may be the first packer of na ttonal size to comply completely with the law as passed by Con gress. The Allbright-Nell Co. o Chicago, manufacturers of pack Ing house machinery, is selling Hormel immobilizing equipmenl and inasmuch as we have a pa tent on this method, we will ac crue considerable advantage time runs on. It is predicted that local an tatra-state slaughterers will longer be isolated processors bu will be troubled by the applicatio of the new federal law. Judgta by what has happened after th introduction of the humane slaugh tering law ta Congress, which re suited ta the largest mail ever re ceived ta Congress on any on bill, we are of the opinion tha isolation of packers who do no comply with the federal law wi not endure more than a few years during which time state legisla tures will take action requiring ta tra-state slaughterers to conform to the federal law. We have completed our yea with a reduction ta our hog slaughter of 5.2 per cent, and a reduction ta our cattle slaughter of 12.9 per cent. This, as we pre- vously stated, was a very difficult year to procure livestock and slaughter it at a profit. Flavor-Sealed Gains Our flavor-sealed division continues its excellent position. The total tonnage of canned goods has increased as we have followed our policy of getting as much of our product out under our own processed labels as is possible. II toleteittng for me to tell Over-All Marketing Over-all marketing of product is perhaps of more concern to the On* of th* result* 6t these com. pettef items bit been that to ids?, 8 per cent of the consumer's income **• ipfnt tat meet, whereas back la 1648, 8.B per cent WM spent to that same manner. The charts shew that the per capita income la dollars has shown a very sharp rise, whereas the percentage of thai Income used 'or the consumption of red meat has been practically* static. Meanwhile, of course, there has been a steady increase to the total amount of meat produced over the years, as for instance, from 1918 when 17% billion pounds was produced, to 1958, when almost 26 billion pounds was produced. Sotnd Advertising Program Your company, to order to sell its product and to endeavor to secure more for the work it does in putting out a fine product, has followed a constant and, we believe, a sound advertising program. The flavor-sealed division has followed its historical method of keeping Hormel canned meats before the public, and during the last two years we have been do- tog spot advertising to our various packing division sales outlets in an endeavor to make an impact on the public —you might say, shooting with a rifle Instead of advertising widely to national magazines — which might be described in our case as shooting with a shotgun, t might say right here thai In- flatfoft is on the minds o! most of us. Our constantly Increasing cuts, not only Wages and sal- tries, but raw materials such as livestock, paper, salt, sugar, wire, and any of the other thousands of items which ga into operating a packing house, an steadily and slowly increasing. 1 think it is proper for me to say that It is about time that you and I as management, stockholders and em- ployes, as well aa everyone else in the economy, should come of age and realise that trouble is ahead of our United States if we don't look squarely at what we are doing to ourselves. To be sure, if we are quick enough to recognize the inflation as it takes place and respond to it, it is possible for a selling or manufacturing organization to keep pace with it by increasing their prices. But our concern goes also to our people on penson who are on a fixed income and are the first victims of inflation, as well as a general concern for all the people in the country who are to a similar condition, and a concern for the country itself, 2,751 Stockholders Mr. Ryan has mentioned our increase to stockholders,—I thought it would be interesting to you to have a little resume' of what has happened: We now have 2,751 stockholders. In numbers of stock- AUSTIN (Minn.) HERALD £ Wednesday, Dee. 17, '58 V Plank Sees Top Levels in Business Record levels of production, employment, national income and comsumption, can be expected to the nation's economy next year. This is the opinion given by Tom M. Plank, economist, (o Hormel company stockholders at their meeting Monday night. He said the rise in production, employment and Income which began in early Spring, can b« expected to continue in the months ahead. Plank is an economist of the First National Bank, Chicago, and a lecturer in the Northwestern University School of Business Ad- STOCKHOLDERS — Here's a view of part of the stockholders on hand for the annual Hormel meeting. management of the company than ever before Today there are approximately 310,000 stores that comprise the food industry. The chains have 18,000 of the 310,000 stores, and do 37 per cent of the, business. Voluntaries and co-ops operate 90,000 stores and do 44 per cent of the business. The remaining 202,000 unattached stores do 19 per cent of the business. From these figures you can gather that tremendous changes have taken place in food distribution. The experts are now predicting that to 1960, 25,000 stores will do 75 per cent of the total industry sales. This trend to fewer and fewer stores doing more and more of the business, places an even greater emphasis on the need for better marketing. On the other hand, there is a trend to a new type small store that is gathering momentum. It is not the neighborhood type grocery, but rather it is the super-market on a small scale with less items, and it is a get- to-and-get-out-to-a-hurry store. It is not so long ago that our sausage truck salesman could call on an account, let us say at Elmore, Minn., and sell him a box of frankfurters. With the added costs of doing business to recent years, it has become increasingly difficult becuase of the high cost, to service the small storekeeper, as we would like to. In the first place, that storekeeper has almost disappeared, and as indicated previously, his sales are not concentrated in larger operations. Compete With Frozen Dinners Meantime, meats have to compete with the growth of the prepared frozen dinners of which to 1957, it is claimed that over $50 million worth were sold. How to get our meats into these big organizations to order to capture our share of tt* consumer's food dollar when she is tempted by kitchen wares, household supplies, electrical supplies, stationery, greeting cards, sporting goods, records, glassware and dishes, furniture, seeds and ferti lizers is indeed a problem. All of these items are competing for shelf space to the food stores. So During the past year we hadj wage Increases to excess of 15 cents per hour. As usual these wage increases have been the result of negotiations between the unions and the larger packers. As usual, we are bound to the agreements by competitive and geographical situations. Wage increases to dollars for the company during the past year amount to $3,358,628 on an annual basis, just slightly more than our total net earnings for the whole year; and it is a point regarding which everyone must be quite concerned. It may be of interest to you to know that 15 years ago our total wage bill was $12,325,000 — whereas ta 1958 our total expenditure for wages was $63,790,000. Of course, we have grown tremendously to the last 15 years. We have added the Fremont plant with its 905 employees, and we have added the Fort Dodge plant with its 983. As you know, we have 20 manufacturing branch houses, but to addition we have made contractual arrangements for added manufacturing facilities for both canned meats and packing house products to such places as Owatonna, Minn., Stockton, Calif., Boston, Detroit, West Point, Miss., Concord, N. C., Tampa, Fla., Honolulu, Hawaii and Jackson, Miss. Such contractual arrangements are, of course, necessary to enable us to compete satisfactorily on the individual markets. Plan Carefully for Profit You might wonder how we continue to make money under this tremendous wage cost. It is not done without careful planning and a lot of work both labor and on the part management. long with it, we have our good and our bad years. When we guarantee the members of our Hormel organization 52 weeks work, we also endeavor with pride to maintain that guarantee, even in some years at considerable cost. Some people might not feel a responsibility to their employes to maintain them on the payroll and would, therefore, had they been operating on an annual wage, have lolders 43.1 per cent are males— 51.1 per cent females — 1.9 per cent educational, religious, institutional and corporate — 3.9 per cent guardianship, estate, trusts, etc. Then with respect to the num- >er of shares, 18.9 per cent are leld by males — 15.1 per cent 3y females — 43.6 per cent by educational, religious, institutional and corporate holders — and 22.4 per cent by guardianships, estates, trusts, etc. Where are these stockholders located; 41.8 per cent are in Austin — 22.4 per cent are to Minnesota, other than Austin —total to Minnesota 62.4 per cent; 35.6 per cent are located elsewhere to the United States than to Minnesota, and 0.2 per cent are owned by foreign holders. In the stockholders 226. last two years, our have increased by We are constantly recruiting the best human material we can secure ta order to always strengthen our organization. A large number of colleges are visited each year. We believe we get the people we want to get from these schools. They talk about football teams being so many teams deep. I think I can say that our management is several teams deep and we have no qualms about the future because of personnel. It is with great regret that I must announce the retirement of R. S. Banfield from our board. ministration. Constructive Factors "While a fast, unsustainable rate of advance is not probable, nor is it desirable, as our objective should be to avoid rapid economic movements either upward or downward, I expect the. economy to achieve new record levels," he said. Plank saw these constructive factors in the economy: 1. Baying by consumers, which accounts for two-thirds of all the goods and services produced to the country, was maintained at a high rate throughout the business downturn, and currently Is above the record level of the third quarter. High employment levels and the near record high II rate of personal Income suggest I strong consumer demand to the I coming months. I 2. — Federal government I spending Is moving higher. In|| addition, state and local government spending may be expected to continue Its consistently riling pattern of the past fifteen years. The Inflationary, as well as the. expansionary, possibilities inherent to a Ugh magnitude of total government spending must be recognized, however. 3 — Construction, which to far this year has been of record dollar volume, is expected to set another record to 1959, at the bonding of reads, schools and other public projects will be continued at high levels. Construction contract awards, an indicator of futore building projects, have beea substantial the past several months. A record Ugh rate last spring of F. H. A. application for home financing and a substantial increase over last year to requests for V. A. appraisals suggest an Improved rate of residential construction activity to the coming months. 4 — Inventory liquidation accounted for two-thirds of the drop to business activity between the third quarter of last year and the second quarter of this year, as measured by the total output of goods and services. Since there was only • small decline to total baying, we built ap a condition where goods were told at • higher rate than they were produced. This has resulted to • gradual Increase the last several months In new orders to manufacturers, w h 1 c h li having a stimulating effect on bnsl- ness activity. As new orders are received, production schedules are stepped up and employment and incomes rise. Inflation Ii Problem "At this time one of the foremost problems facing the American people is the problem of to- it becomes bur problem to makei issued 52 ' wee k notices. You know meats attractive, thereby indue-j tnat under our annual wage plan, tag the housewife to buy them. we guarantee our people 52 weeks' Along with this attractiveness| worlt - In otner words, before we must come uniformity and quality,i would la y off anyone, he would better packaging, better advertising, new ideas for distribution, and above all a lot of ingenious methods of getting our product into those large distribution institutions which are gradually taking over the selling of meats. The consumption of meats in the United States this year is 152 be given 52 weeks' notice. Mr. Hormel instituted this plan ta 1935, and we have been operating under this program since that time. We could, because of a shortage of raw materials, have exercised our privilege of issuing some 52- week notices a year ago because Mr. Banfield retired from the banking business last July, and it is his wish that he be replaced on our board with someone who is active in business. Dick Banfield was perhaps Jay Hormel's oldest friend in Austin, and by rights, because of his association, V should have been a member of the Hormel organization. Mr. Hormel endeavored to induce him to go to work with the company immediately after the first World War, during which time Mr. Banfield and I were associated ta an infantry company in France. So, you see our personal association has been of long standing. We regret very much to have Mr. Banfield leave the organization and want to express our full appreciation for his counsel and guidance over the years, particularly during the time he served as a member of the board of directors. Red Ook Leaguers Open Yule Season Senior Luther Leaguers of Red Oak Grove Lutheran Church welcomed the Christmas season with a program, introduced by Sharon pounds, ta Australia 211 and ta New Zealand 216 Competing against meat — as for tne year we could see the shortage of live-! Tverberg ' » Deluded a Bible study flation. Economists disagree as to the principal causes of inflation and I do not pretend to know the final answer, but high on the list of causative factors are the continuous round of wage increases beyond productivity gains and substantial deficit government expenditures that are persistently rising. "However, preserving the American public's faith ta the integrity of its money, ta my judgment, is not the exclusive responsibility of government. On the contrary, it is a responsibility that must also be shared by management, labor, investors and consumers, and each group must discharge its responsibility if price stability is to be achieved. "This is particularly true today in view of the constant effort to some quarters to wean the public away from a belief ta price sta-l bility, and to persuade them to accept a slowly but steadily rising level of prices as an assurance] of economic stability," he said. Plan Caroling at Homes of Shut-ins CORNING, Minn. — Plans for! caroling at homes of shut-ins on Dec. 26 were made by the Red For Milady Fair \j. GIFTS TOO KNOW SHE WILL WAFT! «VI IMCMl CHMtlMM HIMUM FROM AUSTIN DRUG Cosmetic Department OIVITHI Chrislnas Gift Package of "PRINCE MATCHABELLI" MUCED $2.00 TO $7JO Prince Malchabelli pounds per capita. In Argentina it lsto( * coming during the year of' by Caro1 Beilson; a christm " "*p- 26 were made by the was 187 pounSs, in Uruguay 19 S11958. But w* dirt not iss'ue th 1^" *«™* ,, L ^ " The £J °S T jl^^ pounds, ta Australia 211 pounds notices because we looked for- : **? ° f Chnstmas a fllm P re ' IE5XJ,*uL ' ,£. T' PS anH in MAHJ 7c.nia n j me j u.a^/i»,-, ;„„ j u . i sentatiofl narrated by Betty Tollef- | u * icicu mem on me piaus. tu»u ui inew £eaiana iio pounds, i wdra lo increased heavy onerations », . ' mu *-. ,. . *^ »"«MW. , -»»-*.. •*..*.. S/.SV. UI>1V1I0 I nrv*\ D I . ..t rt« \g n ~.~ ,,.. „ — » U J T^ t Tha Uf*t ftff i AM VM ..«««__ L_J _ 1958-59 e However i erican public ate 16.6 pounds of! we "ave because of the shortage poultry per capita. In 1958 that of livestock, paid a considerable figure had risen to almost 84'.penalty for hours not worked. That, MM , 4MIM1JJaw . ,.,„... . uau ^u. pounds. The average human being is to say, we wore unable to ac-: Following a recreation period, Slides of the Christmas story can eat just so much protein, so quire sufficient raw material at i the leaguers attended a candlelight were shown and narrated by Bet- cheap poultry has made its ta- a profit to keep all our people pastor, son, Burton Magnuson and Rose- j The Peter team presented a program Carol prayer was offered by Sharon! Lysne and a reading, "Are You Ready for Christmas?" was given Mary Thompson. jby LaVern Christiansen. LaVeru offering PERFUME PURSE COMPANION "WING SONG" 3 Now! Wash those years right out of your hair! NEW PU BARRY Shampoo with Royal Jelly of the Queen Bee! 1.50 "DU BARRY" FAVORITES GOLDEN BEE Compact Compraucd Face) Powder . $3.50 "SEVEN WINDS" COLOGNE .... $1.5044.00 PERFUME .... $2.50 BATH POWDER $4.00 "SEVEN WINDS" SETS $4.50 to $11.50 HtUna Rub«nst«ln« "PURSCENT" solid porfumo from $1.35 BATH DUET ...... $3.50 FRAGRANCE DUO . $2.50 • • • • COTY GIFT SET $2 A $7.50 TUSSY MJDNIT1 Bright SMrth $2 i $7.50 TUSSY BATH MITT & Bubblt Bath .. $1.00 • • • • DELOGAR Loveliest Gift-Bath Oil ft BubbU Pearls 59e - $1.75 SEE OUR GIFT JEWILRY CUTEX REVLON MANICURE SETS For Woman $2.95 and $10 plus tax IMPLEMENT SET For Mon ...ft Women $1.25 to $10.95 Good EVENING IN PARIS Sots at $1.00 to $15.00 • • • •' "FLACONETTES* Imported ptrfumtt By Giro — S Farnou* Fragrances $5.00 Valao $2.00 • • • • LUXURY BATH SOAPS • TuiMy • DuBarry • RevloH • Cotyi • Shultoa • I I I CHRISTMAS SPECIAL MERIT COUPON PLASTIC "LACE MATS uitei sin irxit- j I I 4 M* MLYimVUNS TMU PLACE MATS IIMW CUAN - VII AtAIM *«!f HW Coupon THIS COUPON tooo THRU DK. 17* m \ Ice Cream $1,29 roads against what most people i busy all year for the guaranteed have classed as high-priced meats.'number of hours. refreshment hour in the fellowship room. Plans were made for caroling in shut-in homes, Dec. 26. ty Tollefson, Burton Megnuson and Rosemary Dannen. The Paul team served lunch. Store Full of Yul« Gift Ideal Use Our "Christmas Lay Away Plan." AUSTIN DRUG St. Paul t Wittr St. Ph. Hi 3-2105 OPM 7 Dty» • Wtak to 10 pan.

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