Indianapolis Times, Volume 37, Number 137, Indianapolis, Marion County, 8 October 1925 — Page 9

THURSDAY, OCT. 8,1925

FLORIDA MONEY MARKET WILD (Continued From Page 1) Irate In the South refuse to help Florida's business men. No amount If interest can tempt them because they believe the risk too great. Though Florida’s banks have hore than doubled their deposits durtog the last year, they still buy New fork call money at 4 or per cent, lather than lend at home for 25 per lent. This fact alone should give She speculator pause. I have already referred to the (erious credit situation—the refusal If manufacturers to give even thirty lays’ credit to Florida merchants, because they think the risk too jreat. “You can’t blame the credit men for holding off,” Theodore Pomar, Controller of the Florida East foast Railroad, said. “The country |S investment crazy and those who jiavc made a little put it right back Into tba game. The merchant is speculating with money he ought to use to pay his bills and he is therefore a very bad risk.” No one will pay a bill until forced 10. I tried to collect for a friend in tVashington a bill of S3OO from a paan who says he is worth $1,000,000. |lis land holdings would indicate that rating, but he hadn't S3OO dol-lai-s in the bank and no bank in Miami would discount his note or lend him money. Insurance Finns Loan Money lenders often get 50 per tent for their short term loans. To the 25 per cent legal interest, they add a commission. People pay It because all they seek to raise is Cnough for a down payment of say |0 per cent for the land and they tnerely add the usury to the price of the property and get it out of the text buyer. This adds to the general biflation. On well secured property, usually toith good collateral backing, and at their own, and not the owner’s valuLtion, some insurance companies are Waking building loans where they ielleve permanent development is Intended. But even then they are Isking 8 per cent while they obtain Inly 4% per cent in the North. The season for the increased interest, they say, is the great risk. Probably the most dangerous finanling in Florida is done by the muticipalities themselves. Almost every city and village in !he State is issuing bonds for public improvements. Analysis shows Ihese bonds are backed by the flimtiest possible security. Banks and food bonding houses decline to unlerwrite or even sell many of the ssues and most must be floated Ihrough bond selling concerns at Ugh commissions. No Control Over Bends There is no State control over bond fesues. This winter many millions of dolors’ worth of these dangerous seturities will be offered for sale. The talesman will say that a whole city Hands behind them. Beware lest it >e a city of less than a thousand Eopulation offering bonds for prosets covering many square miles. For instance, the hamlet of Lynniaven, six miles from Panama City, In St. Andrew's Bay, with less than t,OOO inhabitants, all races included, B issuing $175,000 worth of bonds tor street improvements or $175 per tapita for this item alone. Panama 2ity, ■with only 2,134 souls, has already obligated Pself for $150,000 tor paving, and is talking of several nillions for a port. West Paalm Beach, with 19,000, is lelling $2,000,000 in bonds for a city la.ll and talks of endless other milions for other purposes. What bids fair to break more lities than anything else fire the hany harbor projects. Almost every fity on the East Coast claims the lest harbor possibilities on the coast ind contemplates bond issues for Iredging and wharfs. Dozen Plan Harbors One “city” near Miami which is ret to be built is, planing $15,000,000 tor this purpose. Fort Pierce with 1,319 inhabitants last May, is thinkug of a $12,000,000 port. Fort Lauderdale, Miami, Daytona, St. Augustine—a dozen other points all llan harbors which they say will set the world’s shipping. That they are sincere in the belief

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merely shows the absurdity of the situation. H. D. Rodenbaugh, vice president and general manager of the Florida East Coast Railroad, whose lines must provide sidings and transportation for these projected ports, says Miami and Jacksonville are the only cities which have a chance to realize on them. The other towns will find they have spent millions, which will be underwritten by investors all over the country, for something which wilt be an overwhelming tax burden without benefit to the community. Physically it would be impossible for all these projects to make good. There isn’t enough export or import business in Florida to go round, and never will be. Perishable crops will always be the State’s main output, and these can't be moved fast enough by tramp steamers. Transoceanic shipping will not

DR. W. B. CALDWELL AT THE AGE OF B3

If Past Forty, Adopt a Regulating Laxative

Most men and women past forty must give to the bowels some occasional help, else they suffer from constipation. One might as well refuse to aid weak eyes with glasses as lo neglect a gentle aid to weak bowels. Is your present laxative, in whatever form, promoting regularity for weeks and often for months—or must you “purge" and “physic” every day or two to avoid sick headache. dizziness, biliousness, colds, or sour, gassy stomach? One dose of Dr. Caldwell’s Syrup Pepsin will establish natural, healthy bowel movement for weeks at a time, even for thoss chronically constipated. Dr. Caldwell's Syrup Pep-

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forsake Jacksonville, Savannah, Norfolk and New York for Miami. The farthest possible inland point, near the centers of population, Is the most practical unloading point because it minimizes railroad freight charges and handling. It is inconceivable that ships would change their proved practices and land at little villages along the Florida seaboard, adding 1,000 miles to the freight haul to the North. The real estate salesman tells the customer that the harbor will mean millions In both business and population and cause cities to grow where hamlets now stand between the marshes and the sea. “It is too bad that people are so gullible,” Rodenbaugh said. “Even if ports were practical down here, we couldn’t support a tenth of those that are planned and they'd be so many distributing points for the railroads to handle efficiently.”

“Age is not the time for constantly whipping the bowels into activity. A lash can not be used every few days.” —DR. CALDWELL

stn not only causes a gentle, easy bowel movement but, best of all. It is ofen months before another dose is necessary- Besides, It Is absolutely harmless and pleasant to take. Buy a large 60-cent bottle at any store that sells medicine and just see for yourself. Dr. Caldwell's SYRUP PEPSIN

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