Logansport Pharos-Tribune from Logansport, Indiana on March 14, 1949 · Page 7
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Logansport Pharos-Tribune from Logansport, Indiana · Page 7

Logansport, Indiana
Issue Date:
Monday, March 14, 1949
Page 7
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Monday Eve., March 14, 1949 LQGANSPQRT PUBLIC LIBRAE Uranium Find on Lake Superior Lure Prospectors to Bleak North 'AXIS SALLY 1 'GUILTY OF TREASON By IV. H. DnlKdsh ! small.starting capital can get into United Press Stuff Correspondent j the deal. SAULT STE. MARIE, Ont. (UP) | The proximity of the deposits to —Along the bleak north shore of Lake Superior and through the rocky Agawa Canyon 'west of hero, small groups of silent men are waging a battle for position. Clad in fur-lined parkas and snow shoes, they are fightlnj? against time. For the magic word "uranium" has roused the interest of prospectors who have coma here from all parts of Canada and the United State?, The romance ot mining in Canada is being revived. It is reminiscent of the great gold rush days of the Ute ISOO's. The struggle now in progress is to stake claims and have them recorded while a thick blanket of snow makes it easier to cover the rugged country on foot. When spring comes, thick underbrush and sharp jutting; rocks will make walking through the bush more difficult. Gains in Jie wintty struggle are Indicated by freshly-hewn claim posts and white-lined squares on the map In the mining recorder's nfflco here. >'eiv rinds Reported The arrival of spring in the A1-. • poms district will mean tho start of concentrated efforts by explorers to "prove" the uranium tiepos- clvilization has eased the transportation and outfitting problem, which was a prime consideration of prospectors In the northwest territories. Then, many an experienced man starved or died of exposure. Here today, any prospector with a good thumb can hitch-hike within n, mile of the original discovery made at Vheano Point. Five dollars for train fare will' take anyone to within a few yards of the first discovery in the Agawa canyon. They were fount! 4n a rock- cut directly on the rail line. The nearness of the deposits to cheap rail and water transportation not only has attracted a great many prospectors, but has interested men with capital. Tho local board of trade already has been flooded with Inquiries about business opportunities. John McCombe, veteran geologist and mining engineer, enthusiastically describes the Algoma area as having the world's greatest uranium potentialities. He is regarded as a man who knows most of northern Ontario as well as the average man knows his own garden. Canada already ranks second in cluction, however, has been in the northwe. tern areas of the country. discovery of uranium at Theano Point In the Lake Superior region, recently pained fresh impetus with reports that rich radioactive ores have been found ( north of Bruce Mines, 40 miles east of here. More than 100 claims have been recorded In the new area. Now, more than 100 square miles Rufus Kinzie, 72, Lifetime Miami And Howard Resident, Dies of staked land has been recorded.! Funeral services- for Rufus C. This land i-potentially rich in the : V( "-'" "" " 1! *-' "^ " most vital 61 all mineral resources. At present, because of winter 72, a lifelong resident of Miami and Howard counties, 'will be held at 2 p. m. Tuesday at the ^\t present, uuitiusu ui wiutei i * '—•/ -~- —"condition!,, the battle here Is one M « ! «° ° hui [ ch <* the Brethren, of which Mr. Kinzie was a member. The Rev. Robert Sink will' conduct the rites and burial will be made in Greenlawn cemtery at of position. No attempt la being made to discover exactly.what lies under tho scow. Enough preliminary prospecting was carried out 1n the autumn to indicate where the main ."breaks" were located, Stakers'ari Interested now merely In locating somewhere near these zones. When spring cornea, prospectors, geologists, and mining men will llock In to explore their hold- Ings. Anybody's <3am» Prospectors of tho old school eked out an existence by trapping or logging in the winter. During the summer, they spent their saving In search of ore deposits. Today, It's anybody* game. The sky is the limit. Even a man with Mexico. Death came Saturday night at the. home of his daughter, Mrs. John Kranlng:, on route 3, Peru. A prayer sen-Ice will be held at the daughter's'residence at 1:30 p. m. Tuesday. . Mr. Klnzle, a retired farmer and auctioneer; lived in Kokomo and was' a chemical company salesman before ha was stricken by illness four months ago, at which time he moved to the Kranteg.home. Born March 8, 1876, in Jefferson township, Miami county, he was the son ot Samuel an* Mallnda Ann (Onesby). Klnzle. On March 7, Mllilrefl (Axis Sally) Glllnrs leaves Federal Court, Washington, escorted by deputy U. S. marshals after belli? found guilty of treason for broadcasting wartime KazJ propngnhdn. The gray-haired, iS-yenr. old defendant, born Mildred Slsk In Portland, Me., faces u sentences of from five years in prison to death. The Iiiry was out 28 hours and 25 minutes . (International Sonnrtphoto) Schricker OK'S Soldier Bonus And Other Bills Warns That Courts May Have to Decide About Constitutionality of State Bonus. INDIANAPOLIS, March 14 (UP) —Governor Schricker today signed the Indiana soldier bonus law, but said that the courts might have to decide if the proposed gift to the i Hoosier World War II veteran's is constitutional. "I. am satisfied that we can administer its provisions efficiently," Schricker said in a prepared statement, "and any deficiency In its administrative provisions can be cured by the next general assembly." • The governor said the only question was whether public funds could be used to pay a bonus. "I am fully advised of this one condition," Schrlcker said, "but If the- question is raised only the courts can resolve it. I have also been advised that the great majority of courts .have' sustained sucli laws " . Schricker also signed all but two of the otlier Jaws before him. Included in the group he signed were three motor vehicle measures. One I | boasts automobile and truck . 11- j cense fees, • another liberalizes j •weight, height and length restric- [ | tions, and the third provides a new ' formula for the distribution of motor vehicle funds, tinder the new formula, cities and towns will get 15 per cent of the receipts, counties 32 per.cent and the state 53 per cent. The two unsigned measures, which Schricker said he would let become law at midnight .tonight without his signature were a bill increasing the salaries of the Lake county surveyor and another increasing tre salaries of the Lake county assessor and surveyor. Mrs. Clara Milroy Claimed By Death At Home In Peru gated to Indiana to give consideration to the facilities of this state," Capeliart said. Lions Meet Tuesday In Special Session PERU, Ind., March 14 — Mrs. Clara Catherine- Milroy, 61, wife of J. S. Milroy, 227 West Seventh •street, died Saturday night at her i •home after an illness of four I The Lions club will meet at 6 oO uv"io . <=• i o clock Tuesday evening at the The was born at Andrews on' Barnes hotel to check the pro- May 27 1SS7, the daughter of Syl- 6 ress o£ sales - ° n tickets for the vester 'and May Kline. She was i Indiana university symphony con- married June 30, 1910, to Mr. Mil-1 cert to be presented here under roy She was a member of the i the auspices of the Lions club on , Presbyterian church, the Order of! March 23, President James White Eastern Star, Pythian Sisters, Order of Amaranth, and the White Shrine. Besides the husband she is survived by three children, James A., J. Richard, and Mary U., all of Peru; and one grandchild. Funeral rites will be conducted at 2 o'clock Tuesday afternoon at the Drake-Flowers funeral home, Rev, A. R. Osborne o£ the First Presbyterian church in charge. Burial will be in Mt. Hope cemetery. Friends may call at the funeral home. preceded him In death in 1942. Those surviving besides Mrg. Kraning are five sons, H. K. Kinzie, .Mexico, Clayson, Bunker Hill, Dale, Roann, Wayne, Denver, and Garreth, Peru; 17 grandchildren and one great-grandchild. A. F. of L. Schedules Dances; Logan Machine Union Meets Thursday Several social events are scheduled to be held of L. hail here weeks. In addition, at the local A. F. i of Logansport Machine company, will hold a welfare meeting at the hall at S p. m. Thursday.' Square dances will be conducted the next two Friday nights, with L. Seward and his band from Deer Creek furnishing the music March IS and Gladys French and her band playing March 25. Deb Tinkle's band will entertain at a "teen-agers only" dance Thursday evening, March '31, from S to 10 p. m. Another square dance will be held April 1 at the- hall to the in the next few I music of Charles Combs' orchestra and his steel guitar. Deb Tinkl Capehart Trying To Bring Air Force Academy To Indiana INDIANAPOLIS, March 1* — (UP)—Sen. Homer E. Capehart, R., Ind., said today he would "do all In my power" to establish a U. S. Air Force academy in Indiana. Capehart explained that he introduced academy bills in the SOth and Slst Congresses and since he introduced the last one last Jan. 13 the Air Force had announced it had decided to introduce a similar measure. announced. Tickets for the concert have been placed on sale at the following places: Brumbaugh's clothing, Walgreen drugs, Central drugs, Loaanspcrt Praros-Tribune 7 Towboat Truman Fails To Beat Lee's Record ST. LOUIS, March 14—(UP) — The towboat Harry Truman, most modern commercial craft oa the Mississippi, Saturday failed to beat the 79-year-old record of the famous steamboat Robert E. Lse in the run from New Orleans to St. Louis. The Diesel-motored Truman pulled up at the finish line here p. m., one hour and 18 1S70 finish at 12:30 minutes behind time of the Lee. Officials of the government-owned barge line were not without Firestone store, Goodyear store, j hope that the Truman was able- 'o Beauty Box, Todd electric, Greens- j b ea t the throe-day. IS-hour and H {elder's clothing, Coppock Shell j minute record of tho Lee and s:-i4. station. Standard Auto. Quick Film, it would try again at an unspeci- David hardware, Pancini's grocery, ned date. Citizens Coal, and Bolloi and Far- ' rer grocery. C. G. Addleman is general chairman of the concert. 57 Degrees Recorded As High Temperature In Area Last Week Snow late Wednesday night and early Thursday morning routed the mild weather enjoyed In the Logahsport area during the first part of the •week. According to the Pharos-Tribune Recording Thermometer, the highest temperature for the week beginning Monday, March 7, and end- Sunday, March 13, was regls- Hotel Man Gets Shock: Guest Returns Towel GREENFIELD, Mass — (UP) — Here's something tha'. seldom happens to hotel men. A guest mailed a hand towel from Brooklyn, N.Y., to John Wal- eker. manager of the century-old Mansion House, with a note which said he had pacekd It accidentally before leaving the hotel. Waleker said it -was the first time anyone ever had returned anything to hfm in 43 year* In th» hotel business. Retirement At 84 Brings Hlg ouuww.J'j ma.1 wi J.UI y> i*Q * **&*" f *•* tered at 3 o'clock Tuesday after- [Gift Of Easy Chair noon when the mercury rose to 57 ' . lr mean-use. • degrees.' The low mark for the LOUISVILLE (UP) —When an Capehart safd that since he in- j week was recorded Saturday. j employe retires after working bills had I Daily high and low temperatures j many years for tha game company, troduced his bill other been offered calling fcr the establishment of an academy in Missouri, Texas and Oklahoma. j He said the Air Force was now making a survey of possible locations. "I arn of the opinion- that since I first introduced the measure the Air Force authorities are obli- for the week, were: Monday 42 Tuesday J>7 Wednesday « Thursday 3fl Frldny 35 Saturday 85 Sunday 40 low 2« se 30 27 2« 23 24 he usually is presented with watch or some other momento. Fellow employes at the Bourbon stockyards here chose a more practical gift to mark the retirement of Dick Raymond, 84, after 55 years with the firm. They contributed enough money to buy him -an «a«y chair. Metropolitan Reports to Policyholders on 1948 Business the International 1897, he married Sarah Fisher, who Association of Machinists, No. 450, will play again for ballroom danc ing Saturday night,. April 2. • "Any car without new individual, inner-spring front shock suspension is ouf-of*-cfafe£" Engineered for comfort! Drive the roughest roqds! less bounce over bumps— less sicfo~swoy on curve*/ To a new distribution of mass and load jiasi been added a sturdy new frame, an engine BO vibration-free you «an scarcely hear it, finger-tip steering, new, longer springs. Inside you'll find wide, wide seats, deep and soft... These are just a few of the 103 new features in the 1949 Kaiser... backed up by tbe RUGGED RELIABILITY proved by 330,000 owners in over three billion miles of postwar driving. In a Kaiser you get mote for your money! You'll be surprised to l«arn how little it costs you to drive a Kaiser. See your local dealer! Th» KaU«r TravoUr. .$2088.48* Th«Kalf«r Special...... .$2328.37 Th« KoUer Da Lux* .$2509.01 •A now KaJaer mode!, now introduction—available eoon. White eidewall tirea available on all model* at extra coat. Prloea include factory-inataUodaceeeeortea... RIADY TO DftlVL Traneportation, atate and local ta«e (if any) extra. FricM aubjcct to chani* without notice. Moff.copi.icf far* in America • KAISIR-FRAZIR • Dealers wherever you 90 HtirJ Hurl Hearl 3Kndiy...»«m* tim«...nm« ititionl RIDI -HUN DECIDE! HERE is THE Financial Statement of the Metropolitan Life Insurance Company for last year. It is more than just figures, because back of them is the story of what 32,700,000 policyholders have done for their families and themselves. • The role of Metropolitan, like that of any Life insurance company, has been to help policyholders to make effective their individual plans for protection against the uncertainties of life. This Statement is a brief account of its stewardship. • Tht amount paid to; policyholdcrs and beneficiaries in 1948 was 5721,366,364. Of this sura, $263,780,754/went to the beneficiaries of 235,000' policyholders; $147,045,672 to some 450,000 individuals for Matured Endowments"and Annuities; and $59,403,238 for 650,000 claims for Disability and Accident & Health benefits. In addition, the total paid included sums for cash surrender values, dividends, and other payments due under outstanding policies. ' The total payments by Metropolitan to policyholders and beneficiaries during the last 16 yews aggregated $9,346,330,825—a sum which has served as a stabilizing influence in homes and communities throughout the country. This total exceeds the Company's assets of $9,125,145,007 as of December 31,1948. These assets are held to meet obligations of $8,591,210,201, of which more than 90% represents statutory reserve* for future payments to policyholdcrs and beneficiaries. Over and above these obligations, there remained a surplus of $531,934,806, which is about 6% of obligations—* backlog which must be available against the possibility of epidemics, Adverse economic conditions or other unforeseeable situations. The Company's assets guarantee the fulfillment of the $39,958,517,854 of Metropolitan life insurance in force. In addition, they assure the payment 1 of the 448,394 annuity and supplementary contracts outstanding, and the 6,546,412 policies or certificates providing benefits in event of either accident, sicknew, hospitalizatioc, surgical or medical expense. A few other highlights of the Company'! l$48 annual statement are: the net rate of interest earned on total assets reversed the. trend of many years and increased from 2.jW# in 1947 to 3.03%; in lino with .tlje , experience of business generally, there wer* some increases in expenses; the rate of mortality was slightly lower than in 1947; the lapse rate was one of the best on record; and new life insurance issued during the ye«r ~ WM $2,904,157,071. The amount held for dividends payable to Metropolitan policjr- hokkiv in 1949 totals $152,067,254. Mttiopolitan- investments continued to 1948 to «ervxs various lections of the nation and its economy. The Company it interacted in making loans, irrespective of size, to either individuals or corporation*, which meet the legal requirements with which it mutt comply. A mor» complete review of the Cotp- pany'* affairs will be found in iu Anrwal Report to Policyholders, which will be xnt to anyotw on request. 5TATEMINT OF OBLIGATIONS AND ASSITS * .» DMfMNR 11,1941 (In accordance with tht Annual Statement flted with the IniuraiXM Department «f Uw ftala of N«w Yortt) OBLIGATION* TO POLICYHOLDERS, BENtFICIARIES. AND OTHER* Statutory Policy R.MTVM ......... $7,800,699,727,00 This amount, dturmined In accordance wlih I«ja! raquire- nwnu. together with future premiums and reienrc interest, it n«e««ry to »»ur« payment of all ftilurt policy bcotnti. P»licy PrvcMda and Dlridtndt Uft with Company. 485,882,414.00 Policy proceeds from death claims, matured endowoients, ' and other piymena, and dividends— left with Company by beneneiaritiandpolicyholSeritobcreturnedinfutureycan. Rttamd tor DlridMi* to rolleyhvKfort .... Set oiide for payment in 1949 to those policyholden eligible to receive them. Policy Clalrm Currtntly OutaUndlnf ..... Claims In process of settlement, and estimated claim i that have occurred but have not y»t been reported. Other Policy Obllnll"» ....... ' • - Franiunu received In advance, reatrvea for mortality ind morbidity fluctuations, reiarve for continuing the program ofoqualuation dividends on weekly premium policies, etc. T«« A«n»«! ....... .'..... Including estimated amount of laxes payable in 1949 on the business of 1941. ConMnfemy Ri*on« for M*rtg<i«* LMIH ... .All Other OMIfoMonf .......... 21.969.435.99 TOTAL OBLIGATIONS ..... ... . «,59I^10^01J« fUMPLUS FUND* f DMlol SiirpkM Pan* ..... t 80.013,000.00 . Unoalfmel Fvn* (•etrplue) . . . 4S3,92l.SOS.i9 ' TOTAL SURPLUS FUNDS . • ....... 533,934,»OS.I> TOTAL OBLIGATIONS AND SURPLUS FUNDS . $»,125,145,007.15 150,067,254.00 3S,42S,84Z47 35,327,13180 18,835,395.00 2!, 000,000.00 AtMTS WNION MflUM PULnLUWCNT OT CMUMTWN* National aovornimnt •ooeirlUa* M,3I»,M2,335.JJ U. S. OoYcmment ...... J3,l 33.829,559,00 Canadian Government i5i,43i7«J5 Othor sU*t* .........-..-- 3,56WO«,170.57 Provincial and Municipal . . . . J 69,755,510.13 Railroad '- 501,930,3?«.51 Public Utility '. . l,IS2,7>2.7S7.79 Industrial and Miscellaneous .... 1,72J,17«,«0,M Bonds of the Company's Houitaj Development Corporations. . . . . . 115,552,843.71 Ctociu 112,Z5J,3JJJ* AU but HWS,050.58 are Preferred or Guaranteed. Mertcace Loom on Meol CaUU ' 1,(3I£3!,KIM Mortgage Loans on City Propenies . J1,W5,046,270.06 Morljafo Loans on Farms . . • . 93,*S9,S3g.34 Lean, en Poll.l«. . '. . . J64. «30.1 »».XJ Made to policyholdeit on the security of their policies. Moil Ettott (after decrease ty adjuslmtnt of $13,003,000 . in the aggregate) 209,«I7,S7S.5« Housing projects and other real estate acquired for investment ....-* 113,465.256.62 Properties for Company use .... 34,716,517.77 Acquired in satisfaction of mortgage indebtedness (of which $11,709,287.72 U under contract of sale) 46,235,804.1? Caah antf Bank Desveelt* Premiums, Deferred and In Ceuree of Collection Aotruoel Interest, Rente, etc ........ TOTAL ASSETS TO MEET OBLIGATIONS . . IS 1,8 86,801. Oi . 131,311.715.47 65,240,074.25 $9,125.145,007.11 MOTK—Aaeets unouatinf; to'$438,45l,M1.9£ arc depotiud with various public officials under requiremenu of Uw or regulatory authority. Metropolitan Life Insurance Company (X MUTUAL COMPANY} I MADISON AVKNUE, NEW YORK 10, N. Y. METHOPOUTAN UFI tNSURANCI CO. T Modlaon Avenue, New Y«rk 10, N. Y. Gentlemen: Please stud me a copy of your Annual Report to Policyholder« for 1948. •1 r NAME- STRItT- C1TY _STAT1_

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