Indianapolis Times, Volume 38, Number 278, Indianapolis, Marion County, 25 February 1927 — Page 20

PAGE 20

110 MEN CONTROL A FIFTH OF l). S. POWERjNDUSTRY Federal Commission’s Report Declares Situation One for Congress to Study. Times Washington Bureau. 1222 Keio York Avenue WASHINGTON, Feb. 25. A hundred and nineteen men control cast reaches of the national power industry, according to the Federal Power Commission. A commission report, just submitted to the United States Senate makes public the following facts: Os sixty great holding companies, twenty-three are completely controlled by twenty-five stocknolders and twenty-two others are subsidiaries, stock control in the remaining fifteen being more widely scattered. On the boards of the sixy companies, with three investment and three manufacturing companies, there are 104 comomn directors, men sitting on two or more, and, of these, fortyfive are comon to purported competitive groups. Among the executive managing the sixty companies, fifty officials are common to two or more. Capital Exceeds Billion These sixty companies control operating companies throughout the nation, with $1,307,000,000 capital BtoOk outstanding. Among 1,500 small, “independent” opjerating companies studied by the commission there are 1,322 common directors, men sitting 'on boards of two or more, and thirty-seven of these are included in the 104 common holding company directors. These 1,322 hold 5,767 out of 9,300 directorships. The commission explains on the basis of the companies surveyed that “119 men exercise one-fifth and fifty-seven men exercise one-eighth of the total voting power of the directors in control of an industry with nearly $7,000,000,000 investment.” The Electric Bond and Share Company, the Insull interest and the North American Company are shown as the largest opgrating groups. The first company, organized by the General Electric Company and still 79 per cent owned by G. E’s. stockholders, alone controls 12 per cent of the nation’s total electric generation. Huge Groups Joined The commission shows that the General Electric Company joined with the two other vast groups, the Insull and North American, in purchasing the North American Light and Power Company late in 1926. This latter was the chief holdingcompany of another great, though lesser organization, the McKinleyStudebaker group. The General Electric Company disposed of its

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SHOT-PIERCED WINDOW AT DALE’S RESIDENCE

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The window in the home of George R. Dale, editor of the Muncie Post-Democrat, showing holes made by a bullet and a rock. .Members of the editor's family tyere in the room when tho bullet and rock entered the room, but no one was hu rt. Dale has been crusading against political conditions in Muncle. Last Saturday’s issue of his paper was suppressed by Judge Clarence W. Dearth.

share in the purchase Feb. 2, just two days before the commission’s report became public. The commission shows that the Alabama Power Company, chief of the thirteen associates bidding from Muscle Shoals, giant Government plant, is owned by the Southeastern Power and Light Company, an Electric Bond and Share Company subsidiary. The investigation was ordered by the Senate two years ago to determine General Electric control. The commission discovered that B. E. Sunny, a General Electric director, sat also on the board of the Middlewest Utilities Company, chief Insull holding organization. Another G. E. director, now dead, sat on the North American Company board. Among other large operating or holding companies, seven G. E. directors held ten directorships. The commission asserts, however, that the General Electric Company “cannot be said to own a majority interest in any power group,” though ‘‘the extensive grouping of electric power companies presents a problem that call3 for legislative consideration by Congress.” CASINO GARDENS PARKJIISED Firms Request Lifting of Sign Restrictions. • Citizens of the west side are happy today with the promises of the park board and Mayor Duvall that the city will condemn the Casino Gardens property and take it over for park purposes. A committee of ten appeared before the board Thursday and t requested that the property be taken by the city at once. The council committee which was to make the same recommendations was not invited to speak. “Never mind,” Austin H. Todd, one of the committee, said indignantly. "If w ecan’t tell them in public, we sure 'frill tell them in private.” A woman of Powell, Ky., makes her living by catching snakes and selling them to showmen.

Plan Now to Have a Beautiful Lawn Sow Quick Growing Lawn Seed Now and Fertilize Then the spring rains v ill wash them in the soil and give the grass a good start, so the dry summer will not kill it out. For Sunny Lawns QUICK GROWING MIXTURE —No. I—Lb.. 50c; 3 lbs.. *1.35; 5 lbs., or more at 40c a pound. „ „ _ ~ The same with 20% of German Bent Grass added—Lb.. 7oc; 3 lbs.. S3, 5 lbs., or more at 60c a pound. For Shady Lawns QUICK GROWING MIXTURE No. I—Lb1 —Lb . 60c; 3 lbs . $1.60; 5 lbs. or more at OOc a pound. WHITE DUTCH CLOVER SEED, lbs.. 63c FANCY KENTUCKY BLUE GRASS, lb.. OOc FANCY RED TOP SEED. lb.. 60c Fertilizers Practically every city lot in Indianapolis should have a sack of 100 pounds of ' fertilizer this year. “NUTRO” SHEEP MANURE—S lbs., 30c; 10 lbs., 50c; 25 lbs.. *1.50 lbs.. FInVG ROUND BONE*MEAL—S lbs., 40c; 10 lbs.. 75c: 25 lbs., *1.25; 50 lbs.. "SACXb”^COMPLETE O FERTILIZER—5 lbs., 50c; 10 lbs., 85c; 25 lbs., *1.76; 50 lbs.. *3; 100 lbs.. *5. LAWN LIME —10 lbs.. *2se; 25 lbs.. 50c; 100 lbs.. $1.50. SPECIAL for One Week 3 Lbs. Sunny <tl 1A ! 3 Lbs. Shady d* 1 Os Lawn No. 1 P**AU ! Lawn No. 1 $2.00 Worth or more delivered Free in city—Shipped everywhere. Ask for a Copy of Onr Beautiful Catalog, Free TWO STORES—227 W. Washington St.—s N, Alabama St TELEPHONES— , MA in 4740 li ncoln 4955

ACTSTOCHECK STAMMS Chinese Postoffice Fights Speculators. By United Press HARBIN, Mdnchuria, Feb. 25. Speculation in postage stamps which netted its operators profits from 20 to 30 per cent, lias been stopped by anew regulation in the Chinese postoffice here forbidding sale of more than 50 cents worth of stamps to any single buyer. The speculation was based on the difference in value of the deflated local paper dollar and the silver supported currency issued by foreign banks in the treaty Os ports. • Chinese Ponzis discovered that a postage stamp is worth 10 cents silver anywhere in China, since the postal service is partly foreign controlled. It was easy, hence ( to purchase large quantities of stamps at the local postoffice with deflated paper dollars and sell them for foreign bank issues in such ports as Tientsin, Shanghai and Hankow. Police discovered a regular organization engaged in the stamp traffic. STU DENT KILLS SELF Bv United Press CENTERVILLE, la.. Feb. 25. Denna Reich, 16-year-old high school girl of Moravia, la., committed suicide last night by drinking poison, it was learned today. Her mother, a widow, could .give no reason for the act. She said' her daughter had no love affairs, was in perfect health and was a model student. Miss Reich was active in school land church affairs in Moravia. She j was a junior student in the high I school. METROPOLITAN ALASKA KETCHIKAN, Alaska.--The '.Daily Chronicle has come forth with the first Sunday newspaper in Alaska. It has all the metropolitan features, Including colored comics, magazine and .pictorial sections. The Chronicle is the largest daily in the territory, serving a population in a widely settled region.

THE INDIANAPOLIS 1 TIMES

BUSER PAY RAISE BILL PASSES BY SKIMP MAJORITY * , Cravens Points Out State 'Family Affair’ Policy on Job Letting. Brother-in-Law Buscr, the lady lobbyist and others on the city hall pay roll, who spend their time at-, tending the Legislature in the interest of pay raises and Duvall-Coffin bills, trumphed Thursday afternoon, after a defeat Wednesday. By a bare, constitutional majority, 26-21, the Iridiaryi Senate voted to give City Controller William C. Buser, brother-in-laV of Mayor John L.

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WHY PAY CASH? WHY PAY MORE? DRESS BETTER THAN EVER! USE TRAUGOT T’S PLAN!§~? Take the easy, modern way to obtain the very latest New York styles and really enjoy wearing Vjfe. 0 them, for you never miss the money. Just tell Traugott to charge it. Make your selections now |a k and pay or them * n l % n small weekly amounts, instead of a lump sum. And remember—a small v V down payment gets the goods. / Lot Men’s ' — Another Big Clothing Scoop! While They Last! High-Grade Shirt! mSfriSdtP C* W TfT'O J 1 Boys’ $7.95 ‘Longie’ Genuine English \ £ easily Worth Double ■afa. _. 'J&M'L •Broadcloth <A V/TEfe”" 4 -95 $A59|fM SHIR 1 b I La. 1 Ml Fl’nelette g\ QQ. S!aHc If itwß'f Rlk Take Yoar Itmettrieled Chotee |/OC |f |f Hi Entire Stock of . - Lot Men’s Reg. St. SO f ffl OVERCOATS ' Union SuitsQ A |H. Mi ' g “Longie” Pants Medium and light f . I £ Q|R Isf La a'izef ht WhilTtbey I ff .15 Iss i ut m„*. no lucky E sTRiKE” ES /M JJB vfVLmL Men’s 98c Blue Work 1 It/ - p lr(r 1 C 2J5 WESTWASHMGTON STREET/ „ ; i a, f T L rn H, T |„—— EDWARD TRAUGOTT ( of *Z a ££W°*?gh\ ock ) HARRY SUSSMAN^ mm , mm ,, b , m , mm J

Duvall, a SI,OOO salary raise. The bill was Introduced by Senator Sumner Clancy (Rep.), Indianapolis, and called for boosting the controller’s salary from $4,000 to $6,000 annually. It had been voted down Wednesday, 20-23. Promises Cut In supporting it Thux-sday Clancy promised .that \he amount would be cut to $5,000 when the bill is sent to the House. Senator William T. Quillin, (Rep.), Indianapolis, said the pay raise had the approval of the Chamber of Commerce. Senator Joseph M. Cravens, (Dem.), Madison, Inquired if It was the same Chamber of Commerce that approved the recent $40,000,000 electric merger. He also took the occasion to point out that the brother-in-law feature was in line with the State administration program and read a list of seven Jacksons, all relatives of the Governor, who are on State pay rolls. Says Education Good * Senator Sam Benz, (Dem.), English, declared that the taxpayers of In-

dianapolis were not Interested In boosting Buser’s salary and that despite the recommendations given him by Marion County Senators, He was sure it was not many years ago that he was getting merely 53.50 a day, working in a bank. Senator Oliver Kline, (Rep.),. Huntington, Inquired where,Buser got his education. “I am interested In several young persons and I should like to have

\ Lone Life Kokomo Cords ■s added sc repair ired free if. cut pr FIRST ESH ■.ULLX ...*7.05 ’ • • $8.75 ~510.65 ~512.05 ~513.50 £13.95 .$18.50 >slo.lo ~?19.75 lES a Year, Container change# ' Exchange r Exchange * Wate£ ITeetSee*. Yean . • Indiana Wholesale Tire Cos. 825 N, CAPITOL AVE. Riley 6077 MAIL ORDERS GIVEN PROMPT ATTENTION Open Evening# and Sunday

them educated ao that they can advance so rapidly in the salary scale, Kline declared. AMERICANS LIKE BERLIN German Capital Increasingly Popular With Tourists. Bu United Press BERLIN, Feb. 25.—Americans are Increasingly making Berlin one of

FEB. 25, 1927

their stopping points in Europe. Official figures, just Issued by the government, disclose a rapid growth In the number of American tourists business end professional men and women who visit the German eapi tal. During 1925, 26,037 Amcricarj came to Berlin. In 1926 this flgur” rose to 29,495. This accounts for the total increase In Berlin’s tourist trade last year, which mounted from 192,836 in 1925 to 195,877.