Indianapolis Times, Volume 34, Number 97, Indianapolis, Marion County, 2 September 1921 — Page 15

SAYS WOMEN FOR SHANK AND ENTIRE TICKET 'Sftrs. Irma By rum Expects Many to Turn Ont at Rally Tonight. “Wo no going to prore that the women of thl* city ire for Lew Shank and the entlro Republican ticket,” and rLa red Mrs Irma Byrum, chairman of the women*! division of the Shank-for-Mayor Club in a statement issued today. Mrs. Byram expects hundreds of women to participate In the automobile parade over downtown streets preceding the last big lawn party at the Shank residence tonight. Mra. Byrum has been a Democrat In previous campaigns. “I believe to night's demonstration will mark the beginning of anew era of women’s participation in politics,” she said. ‘‘“This is the first event of this kind that I know of, and I believe It will demonstrate thoroughly that the women of this city are vitally interested in their city government. "We have an effective organization of fighting, volunteer women in every precinct, ready to cooperate with the already efficient organization under the direction of Mrs. M. B. Spellman. “I believe the Shank-for-Mayor Club women's organization alone is superior in numbers of effective workers to the opposition organization of both men and women, especially since those in charge of that organization have failed to recognize some of the best workers of the past. say the opposition, because to my mflr.ff It represents nothing more than a njtaor negative force in this community^ ‘‘Our opponent’s candidacy does not represent true democracy, it represents only the hybrid element that would use the city government for Its own selfish purpose. It is inconceivable to me that the woman of this city will support this kind of opposition. I believe the women of this city are going to support a man who Is honest, who possesses good com. man sense, rather than assumed dignity and cunning shrewdness. “I am sure Lew Shank's devotion to his home will appeal to every rightthinking woman. Lew Shank's rise from an unknown,, poor, struggling youth to the most popular and beloved citizen of this city reads like a tale out of the ‘Arabian Nights.’ From bootblack, newsboy, auctioneer, business man, recorder to mayor he has shown that he possesses the qualities that make for substantial citizenship. His popularity is not of the spasmodic, mushroom, over-night type It started many years ago, and in spite of malicious slander by selfish interests, it has Increased each successive year by leaps and bounds. “Looking back over the political highway that Lew Shank has traveled you will see it strewn with the wrecks of political ambitions of other days. They jh/ive come and gone, but Lew shank is ' still going. There can be only one answer. He has honestly tried to give this community the best he had and the best has come back to him.” WOMEN TO MEET AT INDIANA TEUST BUILDING. Women members of the Shank-for Mayor Club will mobilize for the parade at the Indiana Trust building at 7:30 o’clock. Women of the regular city organization will gather at the Lemcke Annex at the same hour. The parade, headed by the Shank-f t- Mayor Drum

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Corps in full uniform, will move from Washington street north in Pennsylvania to Ohio street, weet to Illinois street, south to Washington street and thence east to the Shank home, 8547 East Washington street. Special traction service will be provided on the East Washington street car line and police will handle traffic in the streets near the Shank residence. While the crowd gathers at the Shank homestead and between speeches Adkln's band will play. Robert R. Dalton will be chairman. Edward C. and Oswald Kyan, both of Anderson, were invited to speak but Mr. Toner was in Michigan and could not get to Indianapolis while Mr. Ryan had a previous engagement. U. S. OIL KINGS CONFER AGAIN Meet With Mexican Official to Discuss Tax Question. MEXICO CITY, Sept. 2.—Presidents of the American oil companies haring extensive interests in Mexico, again conferred with officials of the Mexican government today. Secretary of the Treasury de la Huerta said he was hopeful of a settlement of the taxation dispute within a day or two. . The press praised President Obregon's message to Congress in which he said the Mexican government would not sign a treaty with the United States until it was recognized. The President's declaration was in line with previous statements he had made to the effect Mexico will insist upon impartial treatment and entire absence of anything savoring of coercion. WASHINGTON, Sept. 2.—Hopes of an early recognition of Mexico, which had been raised by the decision of the Mexican Supreme Court that Article 27 of the Mexican constitution is not retroactive, were dashed today by the statement of President Obregon to the Mexican congress denouncing the proposals made by the United States for a treaty of com- ! mere* and amity. ! Officials here admitted surprise at the statement of President Obregon. It was | taken as a positive indication that no | progress' has been made In the negotla- ! tlons which have been going on between i the Mexican foreign office and Charles T I Summerlin, in charge of the American embassy. j WASHINGTON, Sept. 2—The United j States will take no action with regard to | changing its policy in attempting to eoni elude a treaty of commerce and aintty with Mexico until the full text of the recent Mexico Supreme Court decision i on the retroactivity of Article 27 has ! been received and studied, it was stated j officially today. Landis Too Busy to Talk on A. B. A. Action CHICAGO, Sept. 2.—‘‘l have nothing to say about the matter.” This was the reply of Judge K. M. Landis today to requests for a statement in regard to the action of the Am t lean Bar Association at Cincinnati in adopting resolutions condemning Judge Lanj dis accepting the post as baseball i commissioner while retaining his position as Federal Judge. Judge Landis declared he was occupied with his work ns arbitrator of the building trades dispute here and had no time to consider other matters.

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SAY COMPANY ABLE TO MEET FIXED CHARGES (Continued From Page One.) the years ending June 80. 1921; Dec. 31, 1021; June 30. 1922, and Dec. 81, 1922. For the year ending June 80, 1921, the statement gives net earnings at $1,425,007.53; depreciation, $380,000; fixed 1 charges, $1,033,100; miscellaneous, $55,000, I leaving a deficit of $48,092.47. For the year ending Dec. 31, 1921, the statement gives net earnings, $1,599,641; depreciation, $383,000; fixed charges, SLOTS,6OO; miscellaneous $65,00), surplus, $100,041. For the year ending June 30, 1922, the estimate is, net earnings, $1,702,590; depreciation, $380,000; fixed charges, $1,058,100; miscellaneous, SBO,OOO, surplus $178,490. For the year ending Dec. 31, 1922, the calculations are: Net earnings, $1,848,580; depreciation, $390,000; fixed charges, $1,070,600; miscellaneous, $100,000; surplus, $237,986. The increase in business as indicated in these statements, it is stated, is brought about by the addition of 21 per cent as the annual increase to be )x----pected in the business of the electrical plants, 5 per cent in the gas, heat and water earnings and none in the street and interurban railway earnings involved. The new concern, if it should operate, would operate all these various kinds of businesses. It is explained the estimated increases are based on past experience. The depreciation, it is explained, is figured on the basis of 2 per cent on a valuation of $19,000,000, plus 2 per cent on $500,000 to be spent for additions and Improvements before Dec. 31, 1922. It Is stated this calculation is equivalent to calculating a depreciation of 3 per cent on the depreciable portions of the property. The closing statements brought out the contentions of the respondents that on the proposed basis of capitalization It would be utterly impossible to meet fixed charges, and, further, that the Indiana Electric Corporation does not intend to build a central power plant and trauv mission lines as it originally announced. The petitioner's attorneys presented only brief arguments, repeating to a large extent contentions they already have made. The petitioner ha3 contended that the properties it hopes to purchase have a total value of $19,000,000 and asks for a capitalization of about $21,000,000. TUe respondents have contended that the property value is only about half this amount and that any capitalization above this amount would be so much "water ” These are the principal questions involved. Fred Eates Johnson, attorney for the city of Kokomo, in his closing argument, undertook to show that the company, if it carries out its plans, would find itself immediately in a financial hole. He places the minimum valuation of the property which must be found to carry the securties th epetitolner hopes to issue at $16,552,000 although he fixed the actual value at far below this figure. This Is based on proposed securities issues and the proposed assumption of present inj debtedness. An 8 per cent return on this : figure—the maximum of return usually J allowed—would amount to $1,324,060. he I finds. The available return on the present properties, after deducting 3 per cent depreciation and other charges, would be $726.002 43, based on the figures of the corporations by expert accountants, he said. This, he contends, would leave a deficit of $503,957.52 under the 8 per cent return allowed j Using the same method of calculation j but basing it on the figures of the accounting department of the public servI Ice commission, Mr Johnson finds there

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INDIANA DAILY TIMES, FRIDAY, SEPTEMBER 2,1921.

would baa deficit of $689,129 90. He said that if there is a valuation of $19,000,000 these deficits will be about $200,000 lower In each case. The fixed charges on the securities the company expects to have outstanding, Mr. Johnson said, would amount to sl,001,000. The amount available under the company’s audit would be only $726,002.48, be said, which would be $584497.52 under the fixed charges alone. Using the commission’s figures, the return would be $425,209.90 lees than the fixed charges, he found. Besides this, Mr. Johnson contended, the securities would be discounted, which would make the deficits all the larger. He declared that on the commission s own testimony fixed charges cannot bo met. DECLARES RATES MUST BE RAISED. “The rate# must be Increased or the company can not hope to meet its fixed charges,” he said. William L. Taylor, in making an argument for the respondents, declared the real parties Interested were not before the commission. “When I first read about this case in the newspapers I thought the construction of a power house and of transmission lines was included in the plans,” he said. “Now we find there Is no power house in the case. The power bouse was purely a smoke screen and behind tne smoke screen came this case. After th* case is over the smoke screen will dieMr. Taylor declared the proposition that the deal is not a merger is wrong. He said it is nothing more than a merger and that under a merger an electric company and a gas company can not combine as tbey are seeking to do. Then he went back to the power plant. “Let's eliminate all idea of a power plant’’ ho said. “There can be no idea ihat those people will ever er*ct a power plant. “This case is nothing more than a turnover, an old-fashioned Jay Gould turnover. The sole purpose of it is to pour eight or ten millions of dollars of water into the stock. The people of th* cities in which these planes are located are going to bear the burden. “There is a relationship between rates and the amount of securities Issued and ths consumer will hsv© to pay.” J. W. Fesler briefly closed the argument for bis side by attacking Mr. Taylor on the ground that he had not been authorized to represent all the persons in whose name he entered an appearance and by attacking the contentions of th* respondents as “not bad law, bat no lew at all.” BLESSING SEES OBSTACLE TO DEAL. Commissioner Edgar Blessing interrupted to remark that the law in th# cats was not bothering him. “But unless you can show me a fallacy in Mr. Johnson's figures there seems to be an insurmountable obstacle to your plan,” be said. Mr. Fesler then asked twenty-four hours to examine Mr. Johnson's figures and to present his analysis. As the hearing closed Mr. Taylor objected to Mr. Fesler's statement concerning his method of entering appearances. He said the petitioner had called and sent representatives to every concern he represented in order to find If he had been authorized to represent them. He said he had heard nothing from any of the concerns disapproving the stand he took.

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TUE UNIVERSAL CAR IN Lowest Previous Prices NEW PRICES OLD PRICES (F. 0. B. Detroit) (F. 0. B. Detuoit) TOURING $355.00 $415.00 TOURING with starter and demountable rims .. . 450.00 510.00 RUNABOUT 325.00 370.00 RUNABOUT with starter and demountable rims . 420.00 465.00 COUPE 595.00 695.00 SEDAN 660.00 760.00 CHASSIS 295.00 345.00 TRUCK CHASSIS .... 445.00 495.00 (To the above prices er.cise tax and freight and delivery charges will be added.) No Change in Present Price On the FORDSON TRACTOR

Marion County Authorized Ford and Fordson Dealers

Barbs?* Warnock Cos. 823 E. Wash. St. A. W. Bowen 941 Ft. Wayne Ave. Carr Auto Sales Cos. 5436 E. Wash. St. The Frank Hatfield Cos. 623 N. Capitol Ave.

Fouts Car & Tractor Sales, Inc. 2549 W. Mich. St.

Olin Sales Cos. 515 N. Meridian St. Osborn & Harvey 828 E. 63rd St. Smith & Moore 259 S. Meridian St. Wangelin-Sharp Cos. 443 Virginia Ave.

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