Muncie Post-Democrat, Muncie, Delaware County, 29 July 1932 — Page 4
FRIDAY, JtTLY 29, 1932.4'
AN ENGLISHMAN GIVES OPINION ON DEPRESSION
Way to Create Fortune is To Buy From Pessimists
SLUMP IS IN HEAD, VICTIM OF FEAR
Practically Every Security Sold at Less Than Its Value
“You aare depressed- You think you are crippled. You are afraid of the future. You are full of fears. “You have half the gold of the world and half of the machinery and most of the automobiles and all the skyscrapers. “You have the greatest home market in the world and the largest corporations that the world has'ever seen. “You are ruled more by ideas and less by tradition than any other people in the world. You have usually done what you thought you could do. “How can it be possible that a progressive nation of 120,000,000 people can be wrecked by the speculation of a little handful of fools in Wall Street. Golden Opportunity “The prices that were forced too high had to come down. Today all the prices are too low. “There is now a golden opportunity for every, man who has eyes
to see it.
“Dollars are now being sold for thirty cents. Practically every se curity in the United States is being sold at less than its value. “The way to create a fortune is to buy from pessimists. Pay your money and take the risk. “Frick started his career by buying coke ovens in the slump of 1873. Carnegie made $30 ; [),000,000 by buying steel plants in slumps “Hundreds of fortunes have been made by buying from pessimists. Ye Gods! W\hat a chance there is at this moment. Five Years From Now “In five years from now, most American business men will belong to the “I-wish-I-had-Club.” “Then it will he too late to buy a dollar for thirty cents. The opportunities will be gone. “When a horse balks the balk is in his head not in his legs. He moves on when he thinks he will. “And when an American business man is depressed the slump is in his head. There is nothing serious to prevent him from making money if he thinks he will. World An Oyster “When fear rules the will nothing can be done, but when a man casts fear out of his mind the world becomes his oyster. “To lose a bit of money is nothing, but to lose hope-— or lose nerve and ambition—that is what makes men cripples. “This silly depression has gone on long enough. Get rid of it. It is inside of you. RISE AND WALK. —'Herbert N. Casson, Editor of Efficiency Magazine. London, Eng. ■ o—
Make-Up Man’s Fine Sense of Values Result in ‘Radical’ Sermon
By ELIOT HARRIS The New York “Times” printed one of the sharpest, bitterest, most effective “radical” sermons I ever read. It was a sermon in two parts, both on an important news page. The first part of the sermon said that John D. Rockefeller had just celebrated his 93rd birthday. Rockefeller, according to the “Times” article, lives in the isolation of a 3,000-acre estate, Avith barbed wire fences around it, and patrolled by nearly 100 armed Negro guards. His slightest whim is law. He seems to have a fear of human be-
mann, once a hotel chef, but now “too old even to wash dishes.” He has no money, no job, no friends at least, none who is able to
help him.
But he still has that curious ingenuity Avhieh cooks and sailors share with frontiersmen, and he made himself a nest on the top landing of the fire escape on ait unused theater by weaving card board into the grillwork. Over, his nest he put a sign: “Please be kind enough not to destroy or take anything from this resting place. I am out of Avork .and this is all I have. I have no money and I can’t find a job, so please leave me alone. I’ll apprec-
ings near him; and preparations iate your kind consideration and
are being rushed to house the chauffeurs, gardeners, workmen and most, of the house servants outside the estate, where Mr. Rockefeller cannot see or hear
them.
Houses of neighbors are being purchased, first to paint them green, so that Rockefeller may not see them among the trees; then to be torn down. A children’s home is near enough that voices and laughter sometimes reach the Rockefeller mansion wiien the Avind is right, and negotiations are being pushed to buy that. . On the same page, right, tinder ^Rockefeller’s uninteresting picture, was one of the best little human interest” stories that any American newspaper ever printed. It was the story of Louis Bring-
THANK YOU.” He was making Amt, keeping himself and his nest immaculately clean the while, until the fire inspector discovered him and sent a policeman to evict him. The policeman, hating himself for the job, gave the old man the message an a half dollar, and saw him plod slowly away to a part, of the water front where out-of-works have built a “jungle.’ I am still wondering whether the “make-up” man on the “Times” kneAV what he was about when he put those tw r o stories to pet her. And I Avish the reporter who w r rote the second one would take some cheering neAvs to Mr. Bringmann. Old man Rockefeller says that the depression will pass. Mr. Bringmann will be glad* to know r that.—Labor.
The Voice of the Kitty
What Is Your Opvnion as to the Proposition Now Before the Legislature, to Turn Over to the Various Counties, Cities and Towns, ThreeFourths of the Money Collected by the State Highway Commission, Permitting the State to Retain the Other One-Fourth for the Maintenance of the Present System of Roads?
IT’S A FORWARDLOOKING POLICY
Railroads Given Fair Break, Will Work Out Own Salvation
building the bridge- at Evansville, over the Ohio River, and wdiich bridge is in the state of Kentucky, althoughfit is being paid for by the Indiana highway commission. According to information at hand, this bridge cost the state of Indiana somew’here near $3,000,000, and it would be interesting to know just how much of this $3,000,000 was paid by Delaware County, Avhile taxing themselves to pay for their own bridges, and the expense of repairing its public highways. I’m in favor of retaining all the gasoline tax, auto license fees, and drivers’ license fees now paid out of Delaware County and the city of Muncie, and if this was done instead of “feeding” it to the highway commission to spend in building roads in the southern part of the state, there would be no occasion to cry “high taxes.”
In a recent address, a prominent railroad executive outlined a con structive policy for his industry to meet pre’sent and future problems. The important elements are: Equalization of railroad and motor transport through identical governmental control; elimination of railroad facilities that are not justified by available traffic; coordination of motor transport with railroad facilities; railroad consolidation on a broad scale; financial reorganization of over-capitalized lines; further reductions in railroad operating costs. This is a fonvard-looking policy that the government and rail managements as a whole would do Avell to consider. In justice to the public, as well as the railroads, all forms of interstate transportation should be viewed the same by the Federal government, and subjected to the same treatment. The suggestions for railroad consolidation and reorganization are simply good business. We cannot afford to let the railroads go bankrupt. It is up to government to do Avhatever law-mak-.ing is necessary to give them a fair break in the transportation field—and then it’s up to the railroads to Avork out their own salvation. <
WEATHER PERMITTING
“Dearest Annabelle,” wrote Oswald, avho was hopelessly in love. “I could swim the mighty ocean for one glance from your dear eyes. I could walk through a wall of flame for one touch of your little hancjs. I would leap the widest stream for a word from your lovely lips. As always, your Oswald. P. S.—I’ll be over Saturday night if it doesn’t rain.”
KINCAID BUTLER, Hoyttown Pike and Middletown Avenue.—I
the following reasons: In view of the fact that most of the main trunk lines of our system of highways have been completed, and that It is possible to reach all points of importance within the state, over highAvays already constructed, it seems to me it is not good business to spend $10,00(/,000 to $12,000,000 every years in order to make political jobs for a few politicians, who
ees would have some of the prize roads of the country.
PREVIOUS JOHNSON, St. Louis. Mo.—Lhave been stopping off in Indiana for the past few weeks and have read considerable about your roads, the state highway commission and, of course, I am always interested in the working of state legislatures. To my Avay of thinking, your state highway department seems to be interested in keeping some 12,000 employes at work, rather than in reducing ex penditures. Besides all this, Indiana seems to be the mecca for truck dealers who want to unload their surplus. Several years ago I recall being in Muncie, and at that
time there was a lot of talk about
in favor of the proposition tiirning over lot
1 1 of army equipment, which the com-
mission disposed of in some way, and incurred the wrath of possibly the governor or some other higher up. Then later there was quite hubub about the commission purchasing a large number of trucks from another sourse. Later there Avas a hOAvi went up on account of the action of the commission in building a bridge ih Kentucky arid agreeing to pay for it. This bridge Avas to be a free bridge, but Ken
tooughR wa^sometoing to S gS rid of. as Avas apparently the case in
2. For the purpose of authorizing the Board of Commissioners of the County of Delaware, Indi ana, to borroAv money in the sum of $72,000.00 to pay claims in eurred and filed with said Board of Commissioners by Trustees of Mt. Pleasant, Harrison, Washington, Monroe, Centre, Hamilton, Union and Delaware Townships, in Delaware County, Indiana, for relief of the poor in said ToAvn-
ships.
3. To consider arid determine upori the matter of appropriating by special appropriation the sum of $72,000.0'OO, the proceeds of said loan, to the items of appro-
priations as follows:
County Commissioners Item 410. Poor Relief.
410B Mt. Pleasant Twp __$1271.34 410C Harrison Twp. 23.65 410D Washington Twp __ 207.79
410E Monroe Twp, 410F Centre Twp. __ 410G Hamilton Twp. •_
410II Union Twp. 410K Delaware Twp.
Taxpayers appearing at said meeting have a right to be heard. In the event any such appropriation or any modifications thereof be made at said meeting, ten or more taxpayers feeling themselves
SCHOOL CITY OF MUNCIE, IND-! By WILLIAM F. WHITE j EDWARD TUHEY, FRED W. MULLIN, Board of School Trustees Bracken, Gray & DeFur, Attorneys. July 23, 29.
.. 262.38
68,296.25 235.67 998.73 704.19
aggrieved by reason of said appro-
priations, may appeal said matter to the State Board of Tax Commissioners for further and final action thereon by filing a petition therefor with the Auditor of Dela ware County, Indiana, within ten days for the time such appropriatiosn are determined upon. Dated this 22nd day of July,
•1932.
W. MAX SHAFER, Auditor Delaware Cpunty, Indiana. July 22, 29. o NOTICE OF THE SALE OF
SCHOOL FUNDING BONDS
1%7
Notice is hereby given that at. 4:00 o’clock p. m., on Tuesday, the 2nd day of August, 1932, at the office of the Superintendent of City Schools in the Central High School Building in the City of Muncie, Indiana, sealed proposals will be received by the Board of School Trustees of the School City of Muncie, Indiana, for the purchase of Thirty*five Thousand Dollars (^SS.OTO.OO) par ‘value of fSchool Funding Bonds of said School City, the proceeds from the sale thereof to be used for the purpose of refunding and extending the time of payment of certain indebtedness of said School City evidenced by bonds hereto-
fore issued.
Said School Funding Bonds Avill be issued and sold pm*suant to a resolution adopted by said Board of School Trustees on the 21st day of June, 1932, and will consist of date
charges toll for passing over it and when Kentucky 1ms received enough money from Indianians who pass over the bridge to pay their 'share of the cost of building it, they are going to pay the Indiana state highway commission. So far as I know, they won’t even let the Indiana highway commission drive one of its numerous trucks over this bridge without paying for it. The way it looks to me it would be better to let the local units spend at least the money received from all licenses and gasoline fees in their respective districts, as matters couldn’t be any worse than
they are at present.
MISS LEVENDER ROSE, Hooptown Avenue and 24th Street.—The thing I can’t understand is Iioav Delaware County and the city of Muncie can turn over to the state highway about $500,000 each year in auto license fees, drivers’ license fees, ownership fees and gasoline tax and receive in return about $65,000 to $70,000, and still consider it good business. In other words, this immense sum is turned over to the state highway commission, and in return they pay back to the county and city from $65,000 to $70,000, which is from 13 to 14 per cent of what they actually pay ont. In addition to this, there is a road levy amounting to several thousand dollars each year in the county, besides the moneys raised through taxation by the city for the repair of streets. Yes. I am in favor of taking three-fourths of all this money away from the highAvay commission and putting it to use at home where it is needed.
MRS. BUNKER SIIOTT, State Road 3.—Well, to tell you the truth about it, I am afraid to say very much. You see, we would like to have the road in front of our house oiled and if I should give you my honest opinion of the matter, Mr. Sap might be angry and would, no doubt, refuse to have the work done. However, I think the various counties and cities should be permitted to use the moneys now turned over to the state highway department so that they could use it as they saw fit, and not turn it over to a lot of political appointees who don’t knoAV any more about building a road than Bishop Cannon knows about a corkscrew. The fact about the matter is, that if it were not for the men who have made a life study of road building, and who are employed by the state highway commission in building roads, these political appoint-
PUNKERINUS JABORINSKI, 3Balls Pawnbroker Shop.—I don’t know much about it except that the state highway department never tried to pawn any of their trucks atmy place of business. I have heard a lot of talk about “black top” pavement and have read what was said to haev been a copy of Mr. Saps letter, and also Wilbur Sutton’is article in “Comment,” under the head of “Let Commission Build All the Roads,” which was a masterpiece from an expert road builder and after reading all this stuff I know twice as much less than I ever knew now. Wilbur says, that to place $10,000,000 in the hands of local politicians would tend to build up a political machine, so to keep from building up this machine I am in favor of spending another $3,000,000 for a new bridge at Cincinnati or Pittsburgh, or turn it over to Mr. Sap and let him oil roads with it, but dont’ give it to local officers.’
thirty-five (35) bonds of the par or face value on One Thousand Dollars ($1,000.00) each, all dated September 1, 1932, with interest from said date at the rate of four and one-half per cent (414%) per annum payable on January 1, 1933, and semi-annually thereafter bn the 1st day of July and January of each year as evidenced by interest coupons attached to said bonds. Said ‘bonds and interest Avill be payable at The Merchants National Bank of Muncie,. Indiana, and all of said bonds will mature and be payable on January 1, 1942. All bidders will be required to state in their proposals the gross amount they will pay for said bonds with interest accrued to date of delivery and will be required to enclose the proposals in sealed envelops having endorsed thereon the nature of the bid and the name and address of the bidder. A certified check for two and one-half per cent (2%%) of the amount of bonds bid for, payable to the order of said School City must accompany each bid and the proceeds from such check shall inure to the benefit of said School City upon failure of the bidder to comply with the terms of his bid or to take and pay for said bonds. Said bonds will be sold to the highest and best bidder for not less than the full par value thereof, with interest accrued to the date of delivery and the Board of Trustees shall have the right to
reject any and all bids.
Dated at Muncie, Indiana, this
6th day of July, 1932.
NOTICE TO TAX PAYE FvL Or HEARING ON APPROPRIATIONS In the matter of tne passage of certain ordinances by common council of the City of Muncie, Indiana, Delaware County, providing for special appropraition of funds. Notice is hereby given taxpayers of the City of Muncie, Indiana, Delaware County .that a public hearing Avill be in the City Hall, Muncie, Indiana, on the 1st day of August, 1932, at 7:30 o’clock p. m. on ordinance making special and additional appropriation’s “An ordinance appropriating the sum of $5001 to budget item No. 56, board of safety, of the city of Muncie, for the use of said board in paying insurance premium on motor vehicles used by said board in its police and fiffe department. An ordinance appropriating the v sum of $1,600 out of the general fund of the city of Muncie, Indiana, to budget item No. 56, board of public works Of said city, for the use of said board in paying premium on compensation insurance on employees of said board of Avorks. An ordinance appropriating the sum of $150 to budget item No. 7, board of safety, out. of the general fund of the city of Muncie, Indiana, for the use of said board in purchasing five semaphores for the regulation of traffic. An ordinance appropriating the sum of $38'li out of the general fund of the city of Muncie, Indiana, to the board of public works of said city, for the use of said board in constructing a relief sewer in Dill street from Weft Adams street to river, a distance of 196
feet.
An ordinance appropriating the sum of $740.15 out of the general fund of the city of Muncie, Indiana, to the board of public Avorks with which to construct curb and sewer commencing at Brady street west on Manor street in Whitely, an addition’to the city of Muncie,
Indiana.
Taxpayers appearing shall have the right to be heard thereon. After the special appropriations have been decided upon by the Council, ten or more taxpayers, feeling themselves aggrieved by such appropriations may appeal to the state board of tax commissioners for further and final action thereon by filing a petition therefore Avith the county auditor not later than ten (10) days from the of the final action of said
whole ^iforld prefers
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JULY CLEARANCE SALE $22.50 Suits $16.50 $500 Hats $2.95 $2.00 Shirts $1.15 $5.00 Trousers $3.45 “Friendly Five” Shoes $5.00 NONE BETTER All other Goods Greatly Reduced.
NOTICE OF SPECIAL MEETING OF THE DELAWARE COUNTY COUNCIL.
Notice is hereby given to the
members of the Delaware County Council and to the taxpayers of DelaAvare County, Indiana, that there will be a special meeting of the said Delaware County Cuncil of Delaware County, Indiana, at the office of the Auditor of Delaware County, Indiana, on Tuesday, August 2, 1932, and on Wednesday, August 3, 1932, at the hour of ten o’clock a. m., on each of said days. The objects and purposes of
said meetings are as follows: 1. To consider and determine
upon the matter of appropriating by special appropriation the fol-
lowing sums of money, towit: 104 Circuit Court, per diem of Jurors *_ $1000.'90 102 Circuit Court, Special Judges 200.00 401 Childrens Home, Insurance 63.05
401 Infirmary, Insurance _ 195.50
118E Assessing Harrison Twp. GO.'OO 401 Comr., Prem Official
Bond 125.00
AWk
Guard against SORE THROAT
council and the state board of tax commissioners will fix a date of hearing in this city. COMMON COUNCIL, of City of Muncie, Indiana. Linton Ridgeway, City Clerk. July 15, 22.
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