The Indianapolis Star from Indianapolis, Indiana • Page 51

THE INDIANAPOLIS STAR PAGE 49 FRIDAY, AUGUST 13, 1976 INB's BINFORD EXPLAINS BORROWING INDIANA FIGURES VP OBITUARIES Loan 'To Consolidate Debts9 Harry E. Sarig Dies; Services Saturday i Services for Harry E. Sarig, Indianapolis resident 40 years whose business affiliations had included a circus, hotel and the insurance field, will be held at a structured, 'stable repayment schedule. Heretofore, he said, there were several small debts. "Now we have one large one, which we think is an BINFORD SAID the corporation's board of directors has made substantial additions to reserves for potential losses in real estate loans and investments in nonbank subsidiaries.

He said the liquidation of real estate holdings will be applied toward repayment of the loan. "Real estate, real estate mortgages, plus reserves exceed $10 million," he said. "The reserves may not all have to be used. They're not losses yet. They went out that way, but if we don't need all of them (to repay the loan) they come back in as profit." The $110 million borrowed by Indiana National Corporation earlier this week was "simply to consolidate our existing debts," Thomas W.

Binford, chairman and chief executive officer of the holding com-; pany said yesterday. "It was the corporation, not the bank it owns," Binford said. Indiana National Bank is a subsidiary of Indiana National Corporation. "THE BANK itself is liquid, stable, operating profitably and having a good year," Binford told about 75 Indianapolis brokerage firm representatives at a meeting in the bank tower, One Indiana Square. Binford, the corporation's top executive for six months, said the loan was obtained from a syndicate of United States banks because the corporation wants 11 a.m.

Saturday in Flanner and Buchanan Broad Ripple Mortuary. Burial will be in Galveston (Ind.) Cemetery. Mr. Sarig, a native of Cass County, diedl Wednesday in Community Hospital. He had been secretary-treasurer of Hagenback-Wal- I 1 "'Pi I1f 1 SAVE ON TAXES Social Security Benefit Hike Could Endanger Deductions By SYLVIA PORTER (Last Of A Series) This year's boosts in Social Security benefits may be a bonanza for someone you help support but a trap for you.

The higher benefits may cost you (1) a $750 keep careful records to prove your allocation. Because you have specifically allocated your support payments, the unit rule does not apply and you save your mother's exemption. Pay your mother's expenses directly for clothing, medical bills other items. Ask your mother to have bills made out to her, then pay these by check. Keep bills and canceled checks as proof.

Make sure she sends you her year-end bills promptly, so you can make out and mail your checks before year-end and have them count for 1976. CAUTION: Because Social Security benefits now are geared to the cost of living and keep going up, you may have to contribute more cash EACH YEAR to meet the more-than-half support test and protect your dependency deductions. (Copyright 1 976) dependency deduction, (2) a new, bigger-than-ever tax credit and (3) a medical expense deduction. As an illustration, you may get a dependency deduction for your mother only if (1) she has a "gross income" of less than $750 a year and (2) you provide more than half her support. Example: Last year, your mother received Social Security benefits of $3,050 and had no other income.

To neb her out. Corn Record Still Expected Washington (AP) The nation's 1976 corn crop is expected to be a new record despite a loss of 6 per cent during the two most critical growing months, according to Agriculture Department reports yesterday. "We should be seeing more meat, more pork, more milk, more chicken, more cheese and those are big-ticket items," Director of Economics Don Paarlberg, a former Purdue University professor of agricultural economics, said. Corn is an important feed for livestock. Based on Aug.

1 conditions, the new crop is estimated 6.19 billion bushels, the Crop Reporting Board said. The board's July 1 estimate showed production of 6.55 billion bushels. (INDIANA'S CORN crop was estimated at a record 662.5 million bushels, or 106 bushels an acre, surpassing last year's crop. The present annual record is 556 million bushels, set in 1971, according to argicultural statisticians Purdue University. The record an acre is 105 bushels, set in 1972.

A month ago the estimate was 643.75 million bushels, or 104 bushels an acre. (The Indiana winter wheat crop was estimated at 54 million bushels, or 36 bushels an acre, down from last month's forecast of 58.5 million bushels and 39 bushels an acre. (The state's soybean crop was estimated at 111.52 million bushels or 34 bushels an acre. There was no estimate made last month. The Hoosier oat crop was put at 10.56 million bushels, or 48 bushels an acre.

A month ago it was put at 11 million bushels, or 50 bushels an acre.) IF THE AUGUST national estimate holds, this corn crop would be 7 per cent greater than the record 1975 harvest of 5.77 billion bushels. Burning of crops in pockets of drought in the Dakotas, Minnesota, Wisconsin and perhaps western Iowa did show up in the report, but the field surveys in the state where the bulk of the country's grains are grown found good to excellent conditions. Yesterday's report included the board's first soybean estimates of the season based on actual field checks. IT SAID THE forecast is for production of 1.34 billion bushels of beans, down 12 per cent from last season. Soybean yields were estimated at 27.2 bushels an acre, compared to 28.4 bushels in 1975.

In its first season estimates for the cotton crop, the board forecast a harvest of 10.7 million bales, up 29 per cent from the 8.3 million last year. The yield was estimated at 466 bales an acre, compared to 453 last season. The report said corn yields are expected to average 85.7 bushels an acre, against the earlier projection of 90.5 bushels. Last year, the harvest averaged 86.2 bushels an acre. OAT PRODUCTION was estimated at 548,542,000 bushels compared with 498,938,000 in July and last year's harvest of 656,862,000 bushels.

The yield was estimated at 43.1 bushels per acre, compared with 43.1 last year. The wheat crop, second largest on record, was estimated at 2,090,000,000 bushels, down 2 per cent from last year's record harvest. In July, wheat production was estimated at 2.040,456.000 bushels. The 1975 crop was 2,133,803,000 bushels. The sorghum crop was estimated at 789.279,000 bushels, up 4 per cent from last year's harvest.

It was the department's first forecast of 1976 sorghum production. The yield was put at 52 bushels per acre against 49 last year. Barley output was reported at 340.508,000 bushels, compared with 311,417,000 in July and the 1975 harvest of 382,980,000 bushels. The yield was estimated at 40.8 bushels per acre compared with 44 last year. THE CROP PRODUCTION report reinforced the department's predictions of a retail food price rise for all of this year, over all of last year, of only 3 to 4 per cent.

Increases last year averaged 8.5 per cent, after leaps in 1973 and 1974 of 14.5 per cent in the annual averages. The department's top economists cautioned, however, that, while the corn crop especially strengthens that forecast in assuring domestic and export-trade supplies, the farm sector accounts for only about 40 cents of each dollar a grocery-buyer spends on food at the supermarket. --J you paid all her medical and Rubber Industry, Union At Accord dental bills in excess of Medi- Sylvm Porter care a of $3 00 Result: You got a dependency deduction of $750 and also deducted the $3,100 in medical expenses. Reason: Social Security benefits are not counted for the "gross income" test and you contributed more than half your mother's support. NOW, LET'S SAY you contribute the same $3,100 this year, but another boost in Social Security benefits (tied to the cost of living index) lifts your mother's benefits to $3,150 in 1976.

Your mother spend the entire amount on her support. You wind up a loser. You forfeit the $751) dependency deduction and the big new credit, for you don't contribute more than half her support. You also lose the $3,100 of medical deductions. Your mother gets np benefit from her dependency exemption since she has no income from which to deduct it.

The only winner is the Internal Revenue Service. BUT WITH THE proper tax strategy you can be the winner and your mother can benefit too. Take action now. Make sure you nail down the entire in deductions by being positive you contribute more than half of her support in 1976. By starting early and giving your mother a few dollars extra each week and by rechecking your 'figures before year-end, you can confirm whether you have contributed more than half her support.

Then, money that otherwise would go to the Washington, D.C. (UPI) Union and industry negotiators in the 115-day-old rubber workers strike reached tentative accord yesterday on an economic package that government mediators said was "more expensive" than other contracts this Nevertheless, they do not expect the settlement to set a precedent for bargaining in other industries. The "understanding" between leaders of 70,000 striking United Rubber Workers union members and Firestone Tire Company officials came at 3 a.m. EST, after nearly five days of continual bargaining before Labor Secretary W.J. Usery Jr.

USERY AND JAMES F. Scearce, director of the Federal Mediation and Conciliation Service, said the agreement generally followed their recommendations Sunday and was expected to end the strike and serve as a pattern for the entire rubber industry. "The union and company have gone back to Ohio and presumably they will talk about those outstanding issues back there," a Labor Department spokes-'man said yesterday. Usery and Scearce said details of the agreement would be withheld until after the union presents it to its bargaining committee. THEY SAID OTHER contract issues remain to be resolved.

"We have asked the parties to move as expeditiously as possible to reach an accord in this area," they said in a statement. Although Firestone did most of the bargaining, the strike affected the industry's "Big Four" firms Firestone, Goodyear, Uniroyal and Goodrich. Roy M. Altkisson Dies; Evansville Native Services for Roy M. Attkisson, 73, Coral Gables, formerly of Indianapolis, will be held at 3 p.m.

Saturday in Philbrick and Son Funeral Home, Coral Gables. Entombment will be in Woodland Park Mausoleum, Miami, Fla. A native of Evansville and a resident of Indianapolis until 1947, when he founded a Miami food brokerage, he retired in 1972, two years after his firm merged with the Daye and Drake Corporation. In Indianapolis, he was employed by Stokely-Van Camp Inc. and he was a member of the National and Miami Food Brokers' associations and a charter member of the Miami Association of Food Trades.

Mr. Attkisson was a member of Calvin Prather Masonic Lodge here and of several Scottish Rite bodies and Maki Shrine Temple at Miami. Survivors include his widow, Mrs. Dorothy Attkisson; daughter, Mrs. Janie Cox of New Albany; brother, Merrill Attkisson, and two sisters, Mrs.

Margory Burget and Mrs. Lucille Clark, all of Indianapolis. Memorial contributions may be made to the Shrine Hospital for Crippled Children. Mrs. Clifford Green Services for Mis.

Clifford (Dorothy Irene) Green, 55, 9035 Tanglewood Drive, will be held at 10 a.m. Saturday in G. H. Herrmann Madison Avenue Funeral Home, with burial in Greenwood Cemetery. She died Wednesday in St.

Francis Hospital. A lifelong resident of Indianapolis, she was an Avon saleswoman about 16 years. Mrs. Green was a member of Glendale Christian Church and Greenwood Moose Lodge Auxiliary. Survivors include her husband, two daughters, Mrs.

Dixie Johnson of Greenwood and Miss Deborah Green of Indianapolis, and three sons, Merle, Anthony and Robert Green, all of Indianapolis. Herbert Senkinson Herbert Jenkinson, 76, Bradenton, formerly of Beech Grove, died yesterday in his home at Bradenton. Born at Bnlton, England, he was an electrician for Eli Lilly Co. 38 years, retiring in 1960. A 36-year resident of Beech Grove, he was a member of Beech Grove United Methodist Church and Beech Grove Masonic Lodge.

Services will be held at 10 a.m. Monday in Little and Sons Funeral Home, Beech Grove, with entombment in Washington Park East Mausoleum. Survivors include his widow, Mrs. Margaret Jenkinson, and son, Norman R. Jenkinson of Beech Grove.

John A. Runyan Services for John A. Runyan. 79, 5613 East Washington Street, will be held at 10 a.m. Saturday in Shirley Brothers Irving Hill Chapel, with entombment in Washington Park Mausoleum.

He died Wednesday in St. Francis Hospital Center. A native of Delphos, Ohio, he was a resident of Indianapolis 40 years. He had been a statistician for Union Title Company 10 years and before that had been employed for the State Highway Department 15 years. Survivors include his widow, Mrs.

Ruth Runyan. Miss Pauline Bradway Services for Miss Pauline Elizabeth Bradway, 75, Morgantown, a former Indianapolis resident, will be held at 10 a.m. today in Shirley Brothers Irving Hill Chapel, with burial in Washington Park East Cemetery. She died Wednesday at home. Born in Indianapolis, she lived here most of her life and was a partner in Cardwell Printery 30 years.

She was a member of Zion Evangelical Church and Queen Esther Chapter, Order of Eastern Star. Survivors include her sister, Miss Frances Bradway of Morgantown. Mrs. Lulu Jacobs Services for Mrs. Lula E.

Jacobs, 83, 1714 Thaddeus Street, will be held at 10 a.m. Saturday in J.C. Wilson Chapel of the Chimes, with burial in Washington Park East Cemetery. She died Wednesday in St. Francis Hospital Center.

Born in Clark County, she lived here 56 years and was a cook at the U.S. Rubber Company five years. She also had been employed at the Shelby Washette. Survivors include her son, Earl R. Sherman of Indianapolis.

James A. Beck Word was received here yesterday of the death of Army (Ret.) James Alston Beck II of Vienna, who was the husband of Mrs. Claribel Schechter Beck, a former Indianapolis resident. He died Aug. 1 in his home.

Burial services were held Aug. 4 in Arlington (Va.) National Cemetery. Mrs. Elza Waltman Morgantown, Ind. Services for Mrs.

Elza (Blanche) Waltman, 84, R.R. 1, Morgantown, will be held at 2 p.m. Saturday in the Myers-Clark Funeral Home here, with burial in Bean Blossom Cemetery. She died Wednesday in a Columbus nursing home. Survivors include her husband.

Louis Deichmiller Lafayette, Ind. Louis W. Deichmiller, 88, Lafayette, a retired printer for Haywood Publishing Company, died yesterday in St. Elizabeth Hospital. Services will be held at 10 a.m.

Saturday in Hippensteel Funeral Home, with burial in Springvale Cemetery. lace Circus Company, manager of the old West Baden (Ind.) Hotel, and a general agent for Jefferson National Life Insurance Company. Mr. Sarig was a member of Second Presbyterian Church, the Scottish Rite, Murat Shrine and Riviera Club, and the Logansport (Ind.) Oriental Masonic Lodge. He was a graduate of Indiana Business College at Logansport.

Memorial contributions may be made to the Shrine Hospital for Crippled Children or Crossroads Rehabilitation Center. Survivors include his widow, Mrs. Frata Sarig. Waller J. Hoover Walter J.

Hoover, 60 6149 Burlington Avenue, a retired pharmacist, died yesterday in Winona Memorial Hospital. Born at Logansport, he was an Indianapolis resident 43 years. He retired in 1971 from the Peglow Pharmacy, 8208 Allisonville Road. He was a graduate of the Indiana College of Pharmacy. Services for Mr.

Hoover will be held at 2 p.m. Saturday in Flanner and Buchanan Broad Ripple Mortuary, with entombment in Washington Park North Mausoleum. Memorial contributions may be made to the Little Red Door-Marion County Cancer Society. Survivors include his widow, Mrs. Betty D.

Hoover, and two sons, Ronald D. Hoover of Indianapolis and M. Wayne Hoover of Cape Girardeau, Mo. Mrs. Walker Cline Services for Mrs.

Walker (Mary Cline, 64, 3401 South Chase Street, will be held at 11 a.m. Saturday in Farley West Morris Street Chapel, with burial in Floral Park Cemetery. She died Wednesday in St. Francis Hospital Center. Born at Terre Haute, she lived here 21 years and was a member of Our Lady of the Springs Catholic Church at French Lick.

Survivors include her husband, Walker Cline: five daughters. Mrs. Garvin (Rosemary) Ashby of French Lick; Mrs. David L. I Madonna) Johnson, Mrs.

George W. (Genevieve) O'Brien, Mrs. Edward (Noreena) Fox and Mrs. Howard (Garnetti Tackett all of Indianapolis, and a son, Michael Cline of Indianapolis. Herman E.

Stucky Services for Herman E. Stucky, 64, 1219 North Leland Street, will be held at 1:30 p.m. Saturday in Flanner and Buchanan Fall Greek Mortuary, with burial in Washington Park East Cemetery. A lifelong Indianapolis resident, he died Wednesday at home. He was personnel director of BUT Division of Central Motor Parts Company and also was store manager and sales manager for the firm.

He retired in 1974, after working 42 years for Central Motor Parts. Survivors include his widow, Mrs. Dana D. Stucky, and two daughters, Mrs. Harold (Mary Jane) Bennett of Indianapolis and Mrs.

Judith Ann Maginity of Reistertown, Md. Edward A. Crisseh Services for Edward Anthony Cris-sen, 49, 1610 South Randolph Street, will be held at 10 a.m. Saturday in Little and Sons Funeral Home, Beech Grove, with burial in Floral Park Cemetery. A lifelong resident of Indianapolis, he was- a disabled Navy veteran of World War II.

He died Wednesday in Methodist Hospital. Survivors include his parents, Mr. and Mrs. Anton Cris-sen of Indianapolis; two daughters, Mrs. Alice Wright of San Leandro, and Mrs.

Deborah Wolfer of Hay-ward, and a son, Anthony W. Crissen of Newark, Calif. Mrs. Glen Alspaugh Jr. Mrs.

Glen D. (Rosalie Al-spaugh 34, 314 West Staat Street, Fortville, died yesterday in Community Hospital. She was a resident of the Indianapolis area most of her life. Services will be held at 7 p.m. today in Flanner and Buchanan Shadeland Mortuary and at 9:15 a.m.

Saturday in the mortuary and at 10 a.m. Saturday in Little Flower Catholic Church. Burial will be in New Crown Cemetery. Survivors, besides her husband, include two daughters, Susan and Lisa Alspaugh, and a son, Gary Alspaugh, all at home, and her parents, Mr. and Mrs.

Paul E. Jennett of Indianapolis. Scott Ray George Scott Ray George. 22 8018 Canary Lane, Apt. a former Navy Airman 1c, died yesterday in West 10th Street Veterans Administration Hospital.

He was a lifelong resident of Indianapolis and a 1972 eraduate of Northwest Hich Science Aide Takes Oalh Washington (AP) Dr. h. uuytora stever was sworn in yesterday as the White House science ad United States Teasury will turn into major tax savings to you. A SPIXIAL TWIST in the area of dependency deductions is the government-approved "unit rule." Here is how that unit rule allowed one taxpayer contributed to the support of his parents to parlay a cash outlay, into two extra dependency deducations. In this instance, Prentice-Hall explains, the total support of the taxpayer's retired parents came to $4,100 for the year.

The taxpayer paid $2,100 and the other $2,000 came from his father's Social Security benefits. The taxpayer claimed both $750 dependency deductions one for his father and one for mother. RESULT: The taxpayer wins. For dependency purposes, unless a taxpayer proves otherwise, he must treat both parents "as a unit." If proof is lacking, it is assumed that every dollar Jhis father and mother receive whether from the taxpayer or otherwise is spent equally on each. Since the taxpayer has provided more than half of their support together, he gets exemptions for each.

BUT SAY IN your case your father's Social Security is $1,680 and your mother's is $840. You provide $1,300 for support. Under the unit rule, that is split equally, $650 for your father, $650 for your mother. So you provide less than half the support for both. The unit rule knocks out any exemptions for you and you wind up with zero deduction for support! BUT BY USING the right strategy you will get the deducation for your mother's exemption.

Allocate your support payments solely to your mother and viser, reopening an office that was dismantled dur Critn Onllnnh PtHtr Eu rope ing the Nixon administra tion. Stever, 59, head of the National Science Foundation since 1972, will serve $44,600. Stever, a former professor of aeronautical engineering at Massachusetts Institute Technology and a former president of Carnegie-Mellon University at Pittsburgh, said he was honored to accept his new post "for the science community." He said the science community "knows it can't solve all of the problems, but there are some problems of our society in which they can help a great deal." as director of the White House Office of Science and Technology Policy with an annual salary of Brussels, Belgium (AP) The severe summer drought will reduce grain harvests in Western Europe to their lowest level since 1970, the Common Market estimated yesterday. The latest crop survey for the nine member countries of the European Economic Community said it was still too early to make an over-all estimate. But it said that at this stage the recent rains that Lawyer Enters Diamond's Pica Los Angeles (UPI Singer Neil Diamond faces trial next month on a mis demeanor charge of pos have eased the dry spell will have only a negative sessing marijuana.

effect on the harvest. A few crops maize, i a 's attorney, Indiana Business Brian O'Neill, appeared in Municipal Court Wednes late potatoes, sugar beets and fodder beets still can benefit from rain, it said. Yields of grain and root crops are expected to day and pleaded innocent for the entertainer, who was not present. A trial dat of Sept. 27 was set.

decline even though an es despite the drought in the South and West. In contrast with Western 's drought problems, the Soviet Union has forecast one of its biggest grain harvests ever this year, about 200 million tons. Klock Enters Innocent Plea New York (AP) Donald H. Klock, the former "apple juice king," pleaded innocent yesterday to charges that he conspired in a fraud that netted him $490,899.07 in undeclared income between 1966 and 1975. Klock, 69, is a former president Duffy-Mott Company, which sells Mott apple juice and other apple products.

He also owns apple orchards at Williamson, N.Y., and is a former board member of American Brands parent firm ofDuff-Mott. A 14-c indictment handed up by a grand jury in Manhattan's United Slates District Court on Aug. 5 charged that Klock and his brother Robert, who died in 1973, used false invoices for goods and services to defraud the two companies. NONFERROUS METALS Nw York (AP) Spot nonlarrout pnctl ytilarday. Copptr 74Mc i pound, U.S.

destinations; laad 21.S-25c a poundj line 3740c a pound, dslivaradt tin S4.0M2 pound, Nto YoiHi fold siti.ss par troy tunct, Now Yorti silvtr sa.M pat tnr aunca, Ntw York; auiiksilvar $110 nominal par flask, Now Yark. timated 3.5 per cent more The singer was cited acreage was planted this year than in 1975. June 30 by sheriff's depu In West Germany it had ties who allegedly found an ounce of marijuana at his residence. been estimated at the end of June that grain produc William Schwab has been named the National IGA Retailer-of-the-Year. Schwab owns and operates two IGA stores at Martinsville, one at Mooresville and one at Morgantown.

He received the award at the 50th anniversary convention of the Independent Grocers' Alliance at Chicago. George Wood has been named store manager of the recently opened Ayr-Way Greenwood Mall. Ankur Dasn has been named merchandise manager and John Tobin operations manager of the store. Wood previously was assistant manager of the Nora Ayr-Way store and Tobin was area manager of the Ayr-Way East before his new assignment. 2 Brokerage Firms Receive Caution Notes New York (AP) The National Association of Securities Dealers (NASD) has cautioned two of its members for allegedly complying with Arab boycott demands.

The two member firms, Blyth Eastman Dillon Co. and Dillon, Read confirmed receipt of an NASD letter dated July 26 which termed the boycott "inconsistent with just and equitable principles of trade." Blyth Eastman Dillon President James F. Cleary said it had told the NASD in June, "We believe we did not, we have not and will not accede to any outside pressure to dictate or influence the 1 i of underwriting syndicate members." At Dillon, Read, Senior Vice-President John S. Magrane said, "Obviously, we're not in the mood to break the law, if that's it." tion not counting maize would be 18 million to U.S. Announces 18.5 million tons compared with 21.3 million last year.

Corn Loan Rates The report had no over Washington (AP) The all updated figure for France, but it said the June estimates of 14 Agriculture Department million tons of soft wheat announced yesterday that production loan rates for 1976 crop corn at the and 7.7 million tons of barley both considerably less than last year's country level would be $1.24 a bushel in Iowa, figures had been too Kansas, a ka and optimistic. Missouri and the national average rate of $1.25 a In Britain, however, agri School. Services will be held at 3 p.m. L' 1- -1 1 1 1 The Krannert Graduate School of Management at Purdue Univeritsy will sponsor a seminar, "The Motivation and Management of Engineers," Oct. 28 and 29 at Purdue, West Lafayette.

W. Welsh and Associates, a new consulting engineer's firm at 3246 West 46th Street, will concern Itself with mechanical and electrical engineering and project management, specializing in energy-saving systems. culture officials have been predicting a i a 1 bushel in other states. The national rate, which was announced last February, grain harvest of 15 million aamiuay in Lieppeu anu lupeiitnu ivior- tuary. There will be cremation.

Survivors include his widow, Mrs. Vicki C. George, and his parents, Mr. and Mrs. Kenneth R.

George of Indianapolis. is an increase of 15 cents a bushel from last year. to 16 million tons, up from last year's 13 8 million,.