Indianapolis Times, Volume 36, Number 243, Indianapolis, Marion County, 20 February 1925 — Page 12

FRIENDSHIP HALTS THREE CAREERS (Continued From Page 1) to avoid the fate of the luckless Bounty clerk. Sipe Did Not Profit The facts in the case, so far as one of the men is concerned, were simple. Sipe, easy-going, friendly, lacking the quality to say “No” to a friend, found himself, by March, 1933, according to official figures, facing a shortage of $143,616.47. Apparently he himself profited not the least by his defalcation. Political, personal and business friends came to him for loans, and in order to accommodate thefh he delved into public funds entrusted to his keeping. He was said to be an "easy mark” for insurance agents and stock salesmen. When the crash came in March, 1922, he faced the music without a word of defense. He frankly admitted his guilt, was taken to Jail, and not only made no effort to obtain bail, but actually refused offers of friends to obtain it for him. He was indicted by the Marion County grand jury on April 16, 1922, for embezzlement and conspiracy, pleaded guilty and was sentenced to two to fourteen years at Indiana State prison by Judge James A. Collins in Criminal Court April 24. He be-

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gan serving the sentence Immediately. Family Awaits Release Sipe’s wife, who had been Miss Grace Frazee, of Rushvllle, and their daughter, Ruth, 8, returned to her home to wait the £ay when prison doors would open for him. At the completion of two years Sipe was paroled, returned for a time to his old home on a farm near Carthage, Ind., a few miles from Rushvllle, and then, taking a position in the legal department of the Bobbs-Merill Company, icturned to Indianapolis to live. Latta and Hunt became involved in the affair in 1921, according to Indictments against them. Latta., a foremost figure at the Indianapolis bar, attorney for the Indianapolis Street Railway Company, had also become interested with Hunt in.the Pivot City Realty Company and the Aetna Trust Company. Hunt, a well-known real estate dealer, was head of the Vealty company. He and Latta controlled the Aetna Trust Company. Secruties Replaced According to the indictment, State banking inspectors ordered the bank to replace the securities of the realty company with other paper or cash. Sipe advanced $50,000, of which SIO,OOO was cash and the balance securities, out of trust funds in his care. The indictment charges Hunt and Latta copspired with Sipe to obtain *IO,OOO of the trust funds. The vital question comes to this: In taking the money from Sipe did

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Hunt and Latta know they were getting trust funds, or did they believe it was a personal do%n out of Sipe’s own money? Hunt was tried on the same Indictment June 25, 1923, at a jury trial presided over by Gred C. Gause, special judge. The case ended July 3, 1923, when the Jury disagreed. For a number of years Latta and his wife have lived quietly at the Claypool. They have no children. Mr. and Mrs. Hunt and their four children live in one of the best residential districts of the city, 3939 Washington Blvd. Friends say the family life is ideal. Graham, 19, is a freshman at Wabaah College. The otper children, Julie Ann, Mary and William, the youngest, attend school here. REALTORSPLAN TO PASS BLANKS (Continued From Page 1) president, 602 Meyer-Klser Bank Bldg., to consider the city manager plan. “I am convinced the city manager plan not only will Dring about a more satisfactory direction of city affairs with least friction, but will decrease materially the cost of city g ivernment,” said the Rev. F. A.

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THE INDIANAPOLIS TIMES

Hayward, executive secretary. Federated Baptist Churches. “A factor of interest entering into the city manager plan will be the constant and personal attention given to city business. Indianapolis has a great future, and it would be exceedingly unfortunate to defeat our largest civic success.” Bishop Leete Agrees Detriment of political tinkering with vital city planning was pointed out. “From the standpoint of best business administration and fixing of governmental responsibility, the city manager system presents to any city capable of self-government the best opportunity to manage its own affairs,” said Bishop Frederick D. Leete, Indiana Area of the Methodist Episcopal Church. “It is the only business-like and satisfactory way to handle city affairs. The commission plan is ooen to most of the objections of the present system.” The Rev. John B. Gardner, missionary superintendent of Indiana Synod of the Evangelical Lutheran' Church, said he heartily favored the city manager proposal. v In Other Fields % “I do not believe in partisan local government,” he said. “Honest and good business ability should be t£e basis for selecting men to handle municipal affairs. When we want a man for a task in other fields of activity we do not select him because he is a member of the same organization we are.” “Cities should be run on the same basis as a big business,” said Bishop Joseph M. Francis, Indiana diocese

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of/the Episcopal Church. /‘This is what the city manager plan proposes to do. It has been very successful in all the cities I have studied. Dayton is a fair example of what can be accomplished by placing city management on a businesslike basis.” THREE FACTIONS IN PROGRESSIVES Bv United Pres CHICAGO. Feb. 20.—Whether the La Follette third party is to carry on as a national organization or be permanently junked may be determined at convention of the Progressive party here Saturday. Five hundred delegations are expteted. A three-cornered fight will be staged at the convention, according to Charles J. McGowan, chairman of

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Iron Beds 98c Good, substantial beds that sold for, when new, up to sls. Wood Beds S/jJj Mostly full-size beds—various finishes. Sold for, when new, up to $35. Odd Buffets *9— Match your dining suite. These buffets formerly sold for as high as $55.

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the Illinois Progressive party. McGowan lists three factions: 1. The extreme left wing comprising the radical block which fell in behind La Follette. 2. The Western group, which favor> abandoning the present organization and forming anew progressive movement to oppose Coolidge and the old party. 3. The middle faction, which wants to hold the Progressive party together until 1926. two~workmenlnjured J. E. Ryle and William Curtis Hurt at New Building. J. E. Ryle, 39, of 1333 Ewing St., and William Curtis, 58, of 303 N. East St., workmen employed at the new Selig Bldg., 22 W. Washington St., were injured today when an elevater operated by Ben Turner, 2903 Cornell Ave., engineer, came down on them while they were removing a brace on the elevator shaft. Police sent Ryle, painfully injured about the face, head and shoulder, to the city hospital. Curtis was able to continue work.

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BRITISH HOPE FOR ARMS AGREEMENT Bv United Pre LONDON, Feb. 20.—Pending developments in what is considered the most constructive move toward peace since the war, British foreign policy is marking time. Hoping on a basis of close AngloAmerican cooperation competitive armaments can be stopped, leading diplomats are seeking a plan to take the place of the discredited Geneva protocol. Discussions at this time hinge largely upon the question of submarines. Britain is known to be adamant upon this subject since four-fifths of the country’s food is brought in by sea and the near famine resulting from the German submarine patrols still Is remembered.

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