Indianapolis Times, Volume 34, Number 229, Indianapolis, Marion County, 3 February 1922 — Page 13

DECLARES 1922 TO BE YEAR OF CONSTRUCTION New York Investment Authority Speaks Befox*e Bond Men. DEFLATION NEAR END The year 1022 unquestionably will be a constructive year In the business world, John Moody, president of Moody’s InBtstors’ Service, New York, said last ™ght in addressing the Indianapolis Bond men’s Club at its banquet in the Travertine room of the Hotel Lincoln.' Mr. Moody said the period of deflation which set in with the summer of 1920 is not yet entirely completed but is, probably 90 per cent completed. “This does not mean that we are already entering a real business revival, but before the year 1922 is over a revival will be under way,” he said. “The action of !he high grade investment markets during recent months is simply a concrete reflection of the slowly improving economic situation which has been progressing throughout 1921. The fall In commodity prices, the liquidation of loans, the commercial failures and the slowing down of business activities, working together, have made available for investment purposes very large amounts of unemployed capital. It is this releasing of the strain of credit more than anything else which has so sharply relaxed the money market’and brought a great revival of demand for high class Investment issues. “Thist special factor, however, will not continue to be important as the deflation process reaches completion. The vital question therefore is, what will be the course of interest rates amj of security prices when deflation is complete and anew demand springs up for capital, and credit in regular business and industrial channels? Will interest rates return to higher levels and bond prices react, or will the reverse occur? PREDICTS NO RENEWED STRAIN ON CREDIT. “It Is my opinion that with a revival of general business activities during the coming year or two there will be no re newed strain on credit and that the Krend of interest rates, as a whole, will ■•e downward rather than upward. “Consequently the upward movement In general bond prices, barring temporary setbacks and unexpected developments will continue upward. A year or two hence high grade investment bonds should be ranging .considerably higher than they are today. “A business revival, when it comes, will not be a speculative revival, such as was' the case in 1919. There should be no new period of inflation for many years to come. A nonspeculative revival, implies, not a shortage of capital, but the steady production of new wealth and capital. “The investors of the country are the business men of the country, the holders of the bonds and stocks of the great business organizations: and anythin? chich adds to their real prosperity automatically adds to the investment funds of the nation. “There are. of course, many uncertain and unsettling factors in the outlook for the immediate future. Our own domestic problems, political and economic, are serous and neeessariy invite caution. We also have the unsettled foreign situation confronting us. The latter is probably not so menacing as it appenrs on the surface and is renily beter than it appears Economic conditions in Europe are steadily improving and this year is likely to witness e definite setlement of many of the political and financial problems a broad “Weighing all, the unfavorable against the favorable factors in the situation. I

East Washington Strttt The Biggest Retail Grocery in Indiana Creamery Butter H^d r Pound Print 41c eggsT strictly fresh, Dozen, 40c POTATOES Fancy S t“ck hlsan Peck 35 c Three for SI.OO Prunes, Santa Claras, medium Apricots, choice, dried, no sizfc; 2 pounds, Ir* 1920 crop. Pound.. 4.4 C 29<; pound ....... IDC Taggart’s Cakes, Iced & Marshmallow Extra one-day special. We will pack a one-pound assortment of the choicest and finest varieties, none mui over two days old, in'a parchment lined carton 3 I®* for the remarkably low price of mmd KJ The assortment consists of Chocolate Bon Eons, Marshmallow Jumbles, Chocolate Drops, Fingers, Puffs, Creams, Graham Sundaes, and a dozen others. This price applies to the assortment only. n I Taggart’s York or select Soda, 1 1 C traCKerS the crispiest cracker made IOIIIKI, IDC fy ? | In glass or tin; sour, sweet, dill, mixed r I ICKI6S or straight. A big assortment. Choice LtOQ, BREAKFAST BACON, sugar cured and nicely ey* 3 pounds 61 £ Peanut Butter, H. & C. Pure Boiled Ham, | Dried Baef, fresh made, Pork Sausage.' lean and sweet. ■swe • t cure, two or Pound On Per tn j Half or pounds... -CsOC carton Z.UC pound aJUC | pound Z<OC Cream Cheese, Wisconsin, mild. Pound ' LtiC. Ring Bologna, p . , Hlv Brick Cheese, Boneless old style. rich and creamy. Shoulder, sugar p';„d. WAc 19c pound.... 30c K35....23c Sardines, domestic, in oil or mustard dressing; j* 6 for 25£ .. DC RUB-NO-MORE SOAP Special Rub-No-More Deal, OLD SETTLER Purifies and combination sale. clears dirty rain water; no matter 3 bars Rub-No-More 1 *7_-i u . , , . White Naptha Soap IIC h°w q 1 box Rub-No-More 1- 25<?; P 96 Octagon Soap Chips, or I Ivory Soa P Ch| P*> *)C large box £DC j 3 boxes rr. Z>DC Preserves, Pineapple,; Pure Fruit Jam, Libby’s Pear Butter, Strawberry and Ranpoiefrry and 21-ounce ir Raspberry, tall 24- Strawberry, fivecan IDC ounce 39c p<,cnd 0Q LIPTON ’STEA— n y J TA Small size, 8<? er round, /Jfc Scratch Feed, No Grit, 100-Lb. Bag, $1.90 ' 25 pounds, 50^.

Greeted by Glass as ‘Judge ’ Borah Answers ‘Not Yet 9 WASHINGTON, Feb. S.-lao appointment of Senator Kenyon, loader of the “farm bloc” In the Senate, to be United States Circuit Judge, is s tin the talk of the Senate. 1 Senator Glass of Virginia ran Into Senator Borah of Idaho, one of the strongest Republican opponents of some Administration measures, in the Senate offllce building. Glass gave Borah a hearty slap on the back. "Good morning Judge,” was Glass’ greeting to the Idaho Senator. “Not yet, Carter,” was Borah’* quick reply.

feel that the balance is strongly in favor of the optimist. “I therefore look for a maintenance of healthy and prosperous bond narket conditions during 1922, p s.*wlv imnroving business situation, but with little likelihood of great’ speculative expan sion. At the conclusion of his address, Mr. Moody replied to questions addressed to him by his audience. He expressed appreciation and gratification on meeting Indianapolis business men on this, his first visit to Indianapolis. He said he had been corresponding with some of the men at the dinner for years. Mr. Moody left at midnight for Cleveland where he will address the Cleveland Bond Men’s Club tonight. r A total of 221 persons attended the dinner. At the speakers' table with Mr. Moody were Gavin L. Payne, Ernest T. Ellington, H. W. Bennett, Albert Metzger, J. F. Wild, J. M. Mclntosh, George B. Elliott, George Forrey, Andrew Smith, Sol Kiser, John P. Frenzel, Jr., and Felix M. McWhirter. Mr. Payne and Mr. Ellington spoke briefly. At the conclusion of the address an extra edition of “The Coupon,” a paper issued ly the Fletoher American Company, was distributed. The edition was in honor of the guest of the evening and on its first page carried a resume of the speaker’s address and a collection of Moody phrases. Boston Man Gives Talk on Advertising The importance of personality in advertising was emphasized by C. W. Deardoh of the Strathmore Paper .Company of Boston, in a talk at the weekly luncheon of the Advertising Club of Indianapolis the Chamber of Commerce yesterday. In order to prove his point, the speaker displayed twenty-six advertising pages from which the firm names had been clipped and asked the club members to identify them. Most of them were readily identified. . Mr. Deardon said that T 5 per cent of the advertising of any industry could be signed by any firm in the Industry and the reader woul dnever know the difference. He said that the remaining firms which develop individuality realize greatly on it. Repetition Is the easiest way of building up personality In advertising, he Baid. LOOTS BRIDE’S ESTATE. ROME, Feb. 3. —Three days after tht marriage ceremony Capt. Giovanni Polatsi forged his bride’s name to a check for SIOO,OOO, which constituted the bulk of her fortune, and fled to Japnn with another weraan.

MEETTOPLAN FEDERATION OF CIVIC SOCIETIES Committee to Write Constitution and By-Laws to Report Friday. Representatives of seven civic societies met at the Chamber of Commerce last night and appointed a committee to draw up a Constitution and by-laws for a permanent federation of civic clubs. The committee will report at a meeting at the Chamber of Commerce next Friday night. Organization will be carried forward at that time. The societies represented at the meeting were the Mapleton Civic Association, College Avenue Civic Association, Midway East Michigan Improvement Association, North Central Civic Association, Spades Community Protective Association, Southeastern Civic Improvement League and the Brookside Civic League. There are approximately twenty such organizations in the city, with a membership of 25,000. . The constitutional committee comprises J H. Paxton of the Spades Community Protective Association, chairman; John F. White, Southeastern Civic Improvement League, and A. L. Portteus of the Brookside Civic League. SCHOOL OPENED FOR TRAFFIC MEN Glenn Tells Officers to Make Work Snappy. Capt. Michael Glenn today opened his new school Tor traffic officers. The first lesson to the traffic policemen was not to lean on the semaphore and to watch and not block traffic. The men were instructed to give three minutes to the heavy trend of traffic and one minute to the light trend of trafllc. The men’s attention was called to the blowing oi whistles. They were told to blow one long whistle for east and west traffic and two short ones for north and south traffic. The imm were instructed to stand erect and make their work “snappy” and give more attention to their work. The school will be held every Friday morning and at each school the complaints made by citizens will be read to the mem--bers of the traffic squad

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TITLE IS VITAL IN OBTAINING AUTO LICENSE If Lost, Unfortunate Autoist Must Pay 50 Cents for Duplicate. Mr. Automoblllst, have you your certificate of title lying around the house? If you have, you had better dig it up ■when you come to the Statehouse for your license plates. Many complaints are being received from people that they diii not receive th&lr certificates. H. P. McClelland, manager of the automobile department, said today. If a person has lost or misplaced the certificate which presumably was sent out last fall, anew one must be ob tained. The law provides, when the certificate of title is lost, misplaced or stolen. a person must pay 50 cents for a duplicate copy, Mr. McClelland said. Many persons have gone to the automobile department in .quest of 1922, license plates, but when asked for their certificate of title say. “Well I sent my dollar to this department for one, but, I never got It.” It is necessary for them then to get a new copy of the certificate. “Hundreds of people, when informed

Wanser’s Modern Market 215 North Illinois Street QUALITY RIGHT PRICES RIGHT Fresh Pork Shoulders (whole), per lb 16tf J?ure Lard, best kettle rendered, per lb 11^ Rib and Loin Pork Chops, per lb 23<* Loin and Round Steaks, per lb 23<* Beef Roast (chuck or shoulder), per lb 14^ 24-Lb. Sack Diadem Flour SI.OO 17-Lbs. Pure White Granulated Cane Sugar.sl.oo Fresh Cottage Pork Chops, per lb 18^ Fresh Hamburger, all beef, per lb 10<^ Any Purchase Made at the Store, If Requested, Will Be Delivered No Phone Orders Accepted for Sugar and Flour Only MAin 6141

they must have the certificate, go home and find it stuffed in the table drawer >: in some corner, and return to the department with the comment: “I never saw It before,” Mr. McClelland said. Many people, Mr. McClelland said, have put their titles In safety deposit boxes ans forgotten they had them. “If these titles have been returned to the department because a person moved from the address to which the State was asked to have them sent, you will get the title, but If they have been lost in the malls, an additional 50 cents will be necessarj’ to obtain anew title,' 1 Mr. McClelland said. Prominent Attorneys Form Partnership Thomas H. Fittz, formerly assistant manager of the United States Railroad Administration Claims and Property Section, division of law, amj until recently associated with Miller, Dailey and Thompson in special railroad litigation, and C. P. Stewart, formerly Interstate Commerce Counsel of the Big Four Railroad and until recently of the firm of Born & Stewart, hare formed anew law firm known as Fittz & Stewart. The firm has offices in the National City Bank building.

COURT WARNS TRUCK OWNERS Declares License Plates Must Be Displayed. “Motor trucks are going to h*vo license plates on them, or we are going to make It mighty warm for the owners and drivers,” s>iid Judge James A Collins In Criminal Court In the hearing of Wesley Baldwin, charged with operating a motor truck without license.. Baldwin was fined $lO and costs. The ease will be appealed to the Indiana Supreme Court. “Too many accidents are happening in Indianapolis and often the drivers of trucks get away without being apprehended and this sometimes Is caused by the absence of license plates. The law requires these plates to be shown on both front and rear of automobiles and trucks, and if the owners and drivers don’t place these plates there they will have to suffer the consequences. They know these plates are required.” Baldwin had been fined in the city cbnrt and appealed to Criminal Court, where Fred Masters and Holmes & McAlister, his attorneys, stated they were

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seeking to make a test case and would appeal State Supreme Court If the conviction was sustained. Baldwin admitted on the witness stand he had no plates on his truck. He also testified that be was driving for the Wheeler Trucking Company. THREE MORE GET A CLEAN RECORD Names Removed From List of Draft Deserters. Names of three .East Chicago men listed as draft deserters have been removed from the desertion list by orders issued by Maj. Gen. G. W. Read, commanding officer of the sth Army Corps Area. They are William Edgar Girt, Andy Villisgon and Antona Zyeninski. The orders withdrawing the three names show that each served in the war. all keing with overseas organizations, and their names were placed upon the deserters’ list owing to their failure to notify draft boards of their having entered service. This failure caused the draft boards to have them marked as deserters when, they didn’t answer the call to report for duty. Changes in the

spelling of the names in each case when they enlisted prevented this being dls covered when the checking up on name* was maßb, according to the orders withdrawing their names.

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