Indianapolis Times, Volume 38, Number 278, Indianapolis, Marion County, 25 February 1927 — Page 9

FEB. 25, 1927

RUCKER CHARGES , BARRETT BONDS ARE MISLEADING Reverses Opinion Says City Not Responsible as Corporation. Barrett law bonds issued by the city probably are illegally phrased. This is the announcement today of Alvah J. Rucker, former corporation counsel, in speaking of the onds which have been due for payment since 1922 and for which nuerous persons have sought to collect. Rucker said the bonds were worded so as to lead the purchaser to elieve that the city, as a corpora:on, is responsible for the payment . the bonds. City Is Trustee "Such is not the case,” he said. The city, as a corporation, is not sponsible. But the city as a trusa may be held. The city acts only a trustee for the Barrett law ends. The city treasurer may be

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Will C. Wetter (lerft) and Charles R. Swaim, (right) who have planned the annual frolic for the Benjamin Harrison Law School students Friday night at the SpinkArms. They promise novel "stunts.”

held for not selling the property which is delinquent in payment of assessments and paying the bonds as soon, after they come duo as the sale can be made.” City Attorney John K. Ruckelshaus, who said Thursday that the city as a corporation could be held for the payment of these bonds, today said that he had not given the subject enough consideration to have given his opinion. “Why my decision would bring

down scores of suits on the city,” he said. “J could not afford to make such a decision against the city. I would be ousted as Rucker was.” Rucker declared that interest on the Barrett law funds should be turned into a sinking fund to pay off the bonds as they come due. “That is what the law declares,” he asserted. "If the SBOO,OOO interest, which the former county treasurers have stolen, would have been put into such a fund every one would be happy and buying municipal bonds would not be a risk. . That is, everyone but the treasurers, would be happy.” "Terrible Mess” The city treasurer could also be sued and ousted from office or be held personally responsible for not selling the delinquent property and paying the bonds, Rucker stated. “It is a terrible mess,” he said. “No doubt there are a great number of irregularities and many Illegal acts forced on the trusting public, which buys these bonds and do not know the law. And the Barrett law is so complicated that few lawyers are an authority on it.” ADVANCE DATE ON SCHOOLTAX BILL CoNege Building Measure Ready for Last Reading. Indiana’s $10,000,000 program to build college buildings during the next ten years is ready for third reading In the Indiana House of Representatives. The bill provides for a special 2-cent tax levy and Is one of the measures advocated by Governor Jackson In his inaugural address. Late Thursday the bill was amended to take effect in 1928 instead of 1929. Another amendment permits the purchase of additional land as well as the construction of buildings. The land purchase amendment, offered by Representative John W. Chamberlain (Rep.), Vigo, provides that the Governor must approve purchases. Chamberlain said his amendment referred particularly to the Terre Haute branch of the Indiana State Normal School. Representative Lloyd D. Claycombe (Rep.), Indianapolis, offered the amendment setting the date a year ahead. He pointed out that the amendment was a compromise between the original date, 1927, provided for, and the date, 1929, set by the House Ways and Means Committee. * FINDS NEW FOSSIL BED McPHERSON, Kan., Feb. 25.—A new bed of fossil tracks, imprints left by strange birds and animals of thousands of years .ago, have been located here by Prof. H. H. Nlninger, biologist of McPherson College. This part of the country is believed to have been a shallow lake In prehistoric times and animals left their tracks in the stiff muck.

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THE INDIANAPOLIS TIMES

BEFORE GRAIN DEALERS Convention Hears Washington Man Discuss Elevators. W. J. Kuhrt of Washington, D. C., today addressed the 300 grain dealers attending the convention of Farmers’ Grain Dealers Association of Indiana at the Claypool. The

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speaker’s topic: “Some of the Safeguards to the Permanency of Farmers’ Elevator Organizations.” New officers were to be elected this afternoon. J. W. Shorthill of Omaha, secretary of the national organization, spoke at a dinner Thursday night. E. G. McCollum, secretary, of Indianapolis. reported on activities. Ad-

dresses were delivered by Mervyn Crobaugh of Indiana University: H. K. Kraybill, State chemist and seed commissioner; E. C. Barrett, vice president of the Indianapolis Grain Exchange, and Samuel Holden, exchange chief inspector. A verbal marriage agreement is legal in Russia.

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