Indianapolis Times, Volume 39, Number 25, Indianapolis, Marion County, 9 June 1927 — Page 5

JUNE 9, 1927

$30,000,000 GIANT SWINDLE > SHAKES COAST Julian Pete Blow-up Brings Worries to 'High-Pow-ered’ Folk. Bu Times Bneeinl LOS ANGELES, June 9.—One of the biggest swindles of a decade is unfolding itself here. It follows the collapse of the Julian Petroleum Cos., a $30,000,000 corporation, familiarly called “Julian Pete.” Amazing high finance deals revolve around this company and two other corporations—A. C. *Wagy & Cos., a brokerage firm, and the California Eastern Oil Cos., a reorganized interlocking company allied with Julian Pete. All three are in hands of receivers. Fast workers from New York City and Texas took over the $30,000,000 Julian Pete, pumped it up to six times its value, got out and let it burst. The Easterners are S. C. Lewis, Dallas promoter, and Jacob Berman, alias Jack Bennett, a New York East sider and his brother, Louie. Started in 1924 In December, 1924, C. C. Julian, Canadian oil promoter, owned 51 per cent of Julian Pete, a going concern of $9,000,000 assets and $500,000 liabilities. Unable to finance new wells, Julian was looking for assistance when Lewis appeared on the scene. Lewis called in Jacob Berman and Jacob sent for Louie. First they took over the Wagy and Company, a brokerage firm with two seats on the Los Angeles Stock Exchange. Then they boomed Julian Pete for many times what it was worth. Sales were made in huge blocks of stock on low margins. The promoters needed more money to bull the market and sought the bankers. The scheme as described to authorities, was this: JLewis would go to the “pool manager” for a loan; in addition to the . legal rate of interest of 7 per cent he would offer the pool a block of stock with a guarantee that within a couple of months the stock would ijo up two or three points. Lewis added further that if the stock went higher the surplus would be divided fifty-fifty. If the stock sold for sls a share, in 45 days Lewis and company would bring back slß—interest at 20 per cent for *45 days, or 160 per cent a year plus the legal rate of 7 per cent or 167 per cent in all. Last February, Lewis’ pump failed to work. In one day the stock dropped from sl4 to $7. The stock exchange made an investigation. It is now estimated that the banker pools loaned Lewis some $80,000,000 to $100,000,000 and that they collected in usurious interest some $10,000,000 to $17,000,000. City Prosecutor E. C. Lickley is preparing and filing complaints against the bankers for going outside the usury law. District attorney Asa Keyes has laid the heme before the grand

DOWNSTAIRS.*' AYRES m PKWSKIQAniR WEWatAWDISt AYRES SERVICE • LCWV PRICES I Clearance Values Special for Friday 50—Jersey dresses, one and two-piece models; sizes 10 to 40. Reduced to $4.95 110—Knitted coats in good styles, black and white. Reduced to $7.95 50—Two-piece sports dresses; jersey skirt and fancy top; assortment colors; to 40 $5.95 25—Raincoats radically reduced ; green and blue; sizes 16 to 40 .$3.95 30—Bloomers of rayon 79^ 18—Chemise in white only , . L .-.. 25p 18—Stout petticoats 25£ 15—Princess slips in dark colors ... ... 79£ 7 Glove silk vests $1 4—Bloomers or silk radium ....... .. -v n 2 Pairs silk pajamas ' $1.95 10—Stout size slips in pink—built-up shoulders.. .79£ 75—Aprons, Charleston frocks, etc.; sizes 38 to 42.. 30—Sleeveless vestees; basket weave; white; sizes 36 to 40 t 39£ 60—Dresses of broadcloth, prints, etc.; sizes 36 to 44 # $1 80—Dresses in good styles, radically reduced; sizes 36 to 44 ... .. .$1.95 50—Slipon sweaters, all wool 69£ 57—Children’s union suits and gowns; some infants’ gowns; Vanta mill run; slightly soiled 39p 150—Pairs half socks; slightly mussed,.and soiled; 19c; 3 pairs for 50^ 65—Pairs children’s bloomers; sateen and crepe. 35£ 4—Silk quilted “baby buntings,” in pink only; soiled .‘51.95 60—Girls’ hats; in straw, silk and braid 50£ 13—Girls’ voile dresse&jn green only; sizes 7 and 8 35£ 75—Pairs full-fashioned pure silk hose in outsizes, first quality; black, brown; pair 50£ 150—Pairs full-fashioned hose, irregulars, assorted colors; pair 50^’ 200—Pairs children’s lisle half socks, irregulars, 15c; 2 for 25<* 8— 9x10% Congoleum rugs $6.95 3 9x14 Axminster rugs $31.75 17—27x54 Jute velvet rugs $1.69 161 —32-Inch ginghams, yard ,10£ 174 —32-inch Amoskeag gingham, yard 15£ 200 —Yards -white nainsook ; ....10<? 50—Oilcloth remnants, average 1 yard, each . ...15£ i c a downstairs o Co* store

In fiilms Now

•*•*•*• ■' •' •*****^*'

Miss Phyllis Gibbs, chosen beauty queen of Australia, didn’t have any trouble finding employment. She is on her way to Hollywood with a contract from Cecil B. De Mille tucked in her pocket. Miss Gibbs was one of the few longhaired beauties in the national contest.

jury with probable indictment of at least a half dozen high-powered individuals involved in the deals. Meanwhile Julian himself is using this occasion to show up his old enemies the bankers, and he has unlimbered his $200,000 radio broadcasting set to do it. KELLOGG GETS DEGREE 15,000 See Secretary of State Honored. Bu United Press NEW YORK, June 9.—A throng of 15,000, persons on the campus of New York University Wednesday I witnessed the award of a honorary degree of doctor of lav/ to Secretary i of State Frank B. Kellogg, j Kellogg, wearing the scarlet robe jof Cambridge University, received I the degree from the Rev. George I Alexander, president of the university council. Diplomas were awarded to more I than 2,500 seniors.

FRIDAY SAVING VALUES DOWNSTAIRS AYRES DEPENDABLE MERCHANDISE # AYRES SERVICE • LOW PRICES

Sale of 500 New SILK DRESSES

t r IP y striped tub silk; White crepe with *>• cr’pe white Orchid wash 1 ' * dotted: button crepe: shirred jabot trim of tiers; self trim; an ,j white jabot waist; metal orgelf material. pin ornament. trim. nament; self tie.

White Flannel Skirts Splendidly tailored skirts with inverted pleats and fancy pleated fronts. Cut to fit and made of very good quality material. Fine for general wear. Sizes 26 to 32. $3.95 - $5

Women's New Shoes For Summer Wear A \ $5.95 Very smart new straps and ( pumps in just the styles that Wj the well dressed woman /is O wearing. A large assortment •?'/:1' to choose from—splendid leathers, medium and spike heels; a complete size range in widths from A to C. •' "‘‘al Children’s Play Oxfords, $1 \ Models for boys and girls; strong brown leather with flexible composi- N. Jtjjm tion soles; built for wear; sizes o , to 2. Special for Friday. Boys’ Tennis \ Shoes, 79c , A Slightly imperfect shoes, but won- fdsjfSP* i>i ■ m ... J derful values at this saving price.

Silk and Rayon ‘ Outsize Hose Reduced Sizes 9 to # w to IOVz Pull outsize stockings of pure silk, reinforced with rayon for greater durability. The hemmed tops are of lisle; seamed back, fashion marks; fully reinforced. Irregulars. In assorted colors. Women’s Rayon Growing Girls’ Hose, 39c Pair Hose, 50c Pair Dependable hose of lus- Dainty stockings trous rayon, with over- of silk and rayon from the-knee boot; lisle top to toe; hemmed top; hemmed top; seamed seamed back; fashion back; 8% to 10; irreg- marks; 8 to 9%; popular ulars. Popular colors. colors; irregulars.

New Summer SPORTS HATS

Lovely Summer Scarfs, $1.79 These are our better scarfs —offered at a radically reduced price. Airy chiffons and georgettes in all color combinations; fringed and plain ends. Children's Wool Sweaters Fine wool sweaters In both coat and slipover r 3tyles; with and without collars; some belted § models; light and dark plain colors and com- sS * lunations. Sizes 24 to 30. ' WM CHILDREN’S PLAY SUITS of khaki, cliambray afid steifel materials; long leg; short sleeve; square CQ ueck. Sizes 3 to 6 UjC

THE INDIANAPOLIS TIMES

$2.49 These are extremely highgrade hats —splendidly made of beautiful styles, trims and colorings. Hats for every type of woman. Hats to match every costume. —Crocheted Viscas —Hemp and Tuscan Braid —Hair —Milan —Felt —Ribbon

In All Wanted Styles , Colors and Materials All at tp QC One Low === Piplee A wonderful assortment of real summertime washable frocks offered at a tremendous saving—made possible only because of a very fortunate special purchase. Sizes for women and misses. Latest styles for business, street and afternoon dress occassions. Long and short sleeves—one and two-piece models jacket frocks bolero effects pleated skirts, ete. —Wanted Materials——Washable Flat Crepes —Silk Plus —Prints —Striped Tub Silks —Radiums —Linens —Flannels —Honans —Lovely Colors — —Tans —Greens —Orchid —Whites —Pinks —Rose —Blues —Maize —Many Others Sizes 16 to 42

Newly Arrived Frocks These are in the very popular and ultra smart navy blue georg- m ette. In delightful styles for dSj R/j juniors and misses. t fUj 600 Other delightful frocks in all |&! sizes, styles, materials and colors — |gf; W? at the same low price.

Girls' New Wash Frocks Ea. lively new girlish styles are featured in this assortment of new wash frocks —made of splendid plain and’ printed materials, in a good choice of fast colors. Pleated, shirred and straight skirts with deep hems;' short sleeves, collar and tie trim. Sizes 7 to 14. Girls’ Summer 4 Undermuslins Lace and embroidery trimmed slips. - Combinations of plain and crossbar muslin. Pajamas of crepe and figured fabric. Pink, white and blue. Sizes 2 to 14 years.

New Shipment “Mary Lu” Frocks $1.95 a) Dainty sum- jk mer wash -\JjR frocks suitable 0 jnr for home or \\|J 7 // street wear. Splendidly tailored in dotted r fr-l voiles and / /•’ / [ printed batiste. / h Finished with a white co 11 ar ' 1 A* and tie com- \\ b i nations, uWs / skirts gathered 11 y/. / at waist, deep /q j A / hem; will laun- --/IjYy/der splendid- / /' ly. Choice of blue, rose, lavender, green, orange, etc. Sizes 16 to 44.

Women’s Summer Undies 79c Charmingly styled underattire in cool, summery voiles and muslin also some in crepe and nainsook. There are gowns, bloomers, chemise, stepins and bodice top slips. Wonderful, saving values. Regular and extra sizes. Warner Bros. Corsets, $1 Well made corsets of striped coutil; with lightly boned back, low bust; sizes 23 to 31. Also a long hip and one, with medium bust; well boned. Sizes 24 to 36.

2,000 Yards Dress Geods Remarkable Values at This Reduced Price —Printed Voiles for Imported Scotch _ _ JBeK. Nnl, MH Ginghams; Fine Quality Summer Dresses §/ —Pretty Rayon Brocades —Printed All Silk ' t 4 —Odds and Ends of Dozens Dress Shantungs YARD - of Other Fine Materials White QQ _ White Pajama "J A White Broad- IQ Alpaca wuC Check, Yard . ... . 1 L/C cloth, Yard 1/ C Very popular wash material. Usable remnants from Ito 3 Usable remnant lengths in Plenty of white; all lingerie yards long. Sold only by the plain white and fancy weaves, tints. 36-inch. piece. 36-inch. For Rummer garments; 36 Inch.

Lovely Axminster and Velvet Rugs 9x12 8.3x10.6 Sizes J Sizes These are seconds of fine quality rugs that sell at a much higher price. The assortment consists of a good choice of wanted colorings and pretty designs for both living room and dining room. Every one a real bargain at this low price. Buy on Easy Terms if you wish—sl down. Jute Velvet Rugs, $1.69 Several good designs and colors to choose from in these doorway rugs; size 27x34 inches.

New Rayon Underweas* Chemise, $1 Vests, 79e Bloomers, $1 Bodice top style; ribbon Picot shoulder straps; bodice Well made, with reinforced shoulder straps: plain tai- top style; drawstring; white, gusset; elastic run at waist lored or lace trimmed. Sizes flesh, peach, orchid. and knee. Sizes 6 to 8. 36 to 42. Women's Knit Union Suits in wanted styles. r A Sizes 36 to 50; irregulars. The suit DUC

Annex Store for Men & Boys

MEN’S FANCY MEN’S SHIRTS HOSE, 29c 88c—3 for s£.£o A fine assortment of fancy checks and For vacation or outing wear; novelty pathorizonal stripe patterns; elastic ribbed terns; fast colors; full cut; collar attops; sizes 10 to 11%; irregulars. tached; button cuff; sizes 14 to 17. Boys' Linen Wash Suits at gg Charming little wash suits In genuine Palmer linen. Will launder nice- ——— ly and give good service; in dark blue only; sizes 3 to 10. JBC Long Wash Boys’ Golf Boys’ Fancy x Pants, 89c Knickers, $1.49 Knickers, 89c Boys' H*g wash pants. Good looking checked well made of Daytona Ilght and dark linen golf knickers. Ske.i cloth. Sizes 8 to 16. Sizes 7 to 16. . 7 to 16. - L I * . I*' J.

- jJL

folnred print; self trimmed; pleated skirt; shirred waist.

Pale Green crepe; lace collar; self trim; pleated skirt.

NEW SPOUT SUITS

Very smart new flannel suits, white kick pleat skirts and double breasted jackets, in an assortment of colors. “T® M.l 14 to 20 - &M B n New Sports Jackets || Velveteen and flannel jackets, smart afe few raw blazer stripes and plain colors of g| Wu black, green, blue, navy, (hf* Erfzfifcj red. 16 to 42

See “Babe” at the Circle Theatre This Week, Then Buy —^ Men's “Babe Ruth" ,ts Athletic Union Suits j[ Men, see the “Babe" in action at the Circle, then you'll understand why he requires an ATHLETIC union suit. And you'll know why he recommends his own brand of undeywear so highly. These nine points are the explanation—1. Blouse'back, triple stitched. s—First quality pearl buttons, webless belt; guaranteed rip. 6—The new athletic V neck ,ess - x for summer comfort. 2. Pre-shrunk government 7.-Reinforced at armholes, standard 88 square pajama „ , . . , check; rip-proof. HiJu,! ° 3 -Curved seat always stays o _” Fu n Cased athletic crotch, closed in all positions. * .... Sizes for men in slims, stouts 4. Bar tacked at polnt3, of and regulars, 36 to 32. For strain. boys, 24 to 3s.

Silk crope; coral color; trimmed in white; side pleats.

Candy slrlpe tub silk self trimmod: black tie; front pleat.

Sale of Imperfect Sltusets slEa. These are splendid sheets—seconds of well known brands, the names of which we are not permitted to advertise. Imperfections consist of easily repaired small holes and tears, and removable oil stain. Really fine value. 3*90 72x00 03x00 81x00 72x00 81x90

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