Indianapolis Times, Volume 39, Number 202, Indianapolis, Marion County, 31 December 1927 — Page 24

CTwsC. WAGES WAR TO LOWER FREIGHT RATES Discrimination Removed for Shippers in Indiana; Battle to Go On. BY W. H. ARNETT Managing Director Indiana State Chamber of Commerce Indiana industry at the close of the most strenuous year in the history of American commerce, turns anew ledger leaf today in preparation for 1028 business. Only elapsed time can actually produce the facts, but Hoosier business leaders are looking forward to a prosperous year, a year in which Indiana will forge ahead industrially and commercially. Freight Rate Battles Won For the past several years, captains of industry within our State have been confronted with the problem of coping with freight rate discriminations which have given tremendous marketing advantages to their competitors in other States. The Indiana State Chamber of Commerce was organized tti remove the discriminations and for the past six years has labored untiringly with the result that 1928 will find scores of Indiana industries relieved of some of the huge freight rate burdens which drained their resoruces and restricted their markets. Savings of SBO per carload on certain commodities bound for southern destinations are presented to Indiana industry as one of the 1927 contributions of the State chambers and other traffic organizations of C. F. A. territory to Hoosierland's prosperity! Work Will Continue But the battle to overcome these obstacles has not won easily.

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STOMACH FOR HEART Fost-Mortem Shows Man's Anatomy Is All Wrong. ASTORIA, Ore., Dec. 31.—1n a post-mortem examination of the body of a man who died in a hospital here, it was found that his stomach was where his heart should have been. The latter organ was smaller than normal and was on the right side. Favnred competitors In other States have Joined with the railroads in opposing equalizations which would remove these advantages. However, persistence has triumphed and during the coming year other discriminations will be removed which will help greatly to enlarge Indiana’s markets and thus increase industrial activity within our borders. Freight rate discriminations, however, have not been the only obstacle to industrial development. Legislative handicaps also have worked hardships. The State chamber has carried on an active legislative campaign and ir, the 1929 General Assembly again will seek to remove from our staute books the measure which penalizes corporations organized outside the States, that Indiana may share to a greater degree in the branch plant development which is revolutionizing large industry. Added Relief Promised Indiana business is awakening to the need for and value of cooperation. The success of the State chamber in obtaining relief from unjust freight rate burdens has demonstrated, as nothing else could, (he effectivenes of such an organization in promoting and protecting the business interests of our State. Cases now pending which the State chamber is prosecuting before the Interstate Commerce Commission and the Indiana Public Service Commission hold promise of bringing added relief during 1928, which will benefit, industry and every phase of business. President J. E. Frederick of the

4% on Savings Deposits. We now pay 4% on all savings accounts and have a complete department devoted to this important branch of the banking business. Safety Deposit Boxes One of the newest and most modern safety vaults in the city houses our safety deposit boxes. These boxes vary in size and range in price from $3.00 a year upward.

State Chamber of Commerce, has the following to say regarding our year’s accomplishments: “Even Break" Is Sought “An enlarged agricultural market created through industrial development in our manufacturing centers is the end toward which the Indiana State Chamber of Commerce is striving in Its work of reducing and equalizing Indiana's freight rates. | “Lower and more equitable rates for Indiana shippers, rates which will give our producers an 'even break’ with our comoetitors, particularly those in Illi.iois, are the object of our activities in the field of freight and traffic. “Prosperity of the farmer is so closely linked with national prosperity that only through cooperation can the common problems be solved. "Analysis has shown agricultural prosperity to be greatest in industrial sections and in aiding our industries the State chamber believes it is contributing directly to the prosperity of the farmer whose products are sold largely to the industrial employe. Market Edge Removed “The State chamber during the past year has accomplished a great deal in the removal of certain discriminations in freight rates which gave to Indiana's competitors, particularly those in Illinois, distinct marketing advantages and during the coming year will make every possible effort to adjust rates within our State to a parity with those prevailing in Illinois. “National advantages of location, coupled with admittedly low transencourage the State chamber in its activities looking toward freight rate reductions and equalizations. “Directors and officers are devoting the efforts of the organization to the worthy task of developing the whole State and as increased moral and financial support is given will be able to expand its services to the increasing good of the whole com--1 monwealth.

THE IN DIAN APOEI& TIMES

RANK FAILURES CUT IN INDIANA No. 3 Head—Sec Puzzle Crashes Below Average, Commissioner Finds. BY LUTHER F. SYMONDS State Banking Commissionar The compilation of the figures covering the operations of the Department of 3anking for >;he six months ending Dec. 31, will not be completed for about thirty days, and it is not possible to issue a statement at this time which is much more than an estimate. In some o. the western States the bank failures during the period of deflation since the close of the war has run from twenty to forty per cent of the total number of banks, while in Indiana the number of closings for the same period has been about five per cent. In proportion to the number of banks in each department the ratio of closings between the State banks and the National banks within the State is practically the same. The prediction early in the year

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years ago Thomas A. irT§ FOH c^son ma^e h rs t commercially practicable electric light. Forty-five years ago the first electric generator in this country started running. Thirty-nine years ago the Marmon-Perry

Company, first predecessor of the Indianapolis Power & Light Company, began operations in the.rear of the old Sentinel Building on Market Street, opposite the present interurban terminal, and on Thanksgiving Day, 1888, the lights were turned on in the Park Theater—probably the first theater building west of the Alleghenies to be illuminated solely by electricity. Less than half a century ago were these small begin-

nings. From them and from allied discoveries of scientists and engineers has developed the most astonishing change in the life habits of nations that the world has ever known, and in the United States specifically, the most astounding prosperity that any nation has ever enjoyed. Half a century ago most of the houses in this country were lighted with kerosene lamps. Now nearly seventy million of the nation’s population live in homes lighted with electricity. Half a century ago most of the world’s work, with the principal exception of rail and water transportation, was done by man power—sheer hard drudgery of muscle. In many countries this is still largely true.

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that an avalanche of bank failures would sweep over the States in 1927, has proved false. Out of all the banks which have closed in the State, with the possible exception of ten or twelve, the remainder of them was caused by a somewhat overbanked condition largely in agricultural districts. There is no cause for alarm in the future so far as the condition of the bank is concerned. There may be more failures, but one very good sign is found in the fact that b*ank reserve.; are the largest and their bills payable are the smallest they have been at any time within the past three years. If all banks were in the hands of real bankers failures would be minimized. The loss accruing from bank fail-

TO THE WHOLE WORLD WE EXTEND OUR SINCE RE ST WISH FOR A CONTINUANCE OF THE PROSPERITY THAT HAS BEEN OURS DURING THE PAST YEAR. Central Wall Paper and Paint Cos. 127 S. Meridian St. MA. 5981

The Greatest F actor In Modern Civilization

ures is smaller than in almost any other line of business. For 1926 it will be less than one cent on the dollar of deposits. The amount for 1927 has not been determined. There are 825 banks in the State department: there are ten examiners, and a strong effort Is made to examine each bank every six months. During the year several small banks which found their business unprofitable have voluntarily sold their assets to larger institutions. There have also been many consolidations, and the coming year will likely see other sales and consolidations. PULLS TUNE FROM AIR BERLIN. Dec. 31.—An entirely new kind of musical instrument has

Ixicrcased Cb*t Y V of Living / \ / i-;V: g S J NNK A from Official Figures of the &ure*u of Labor AUtoUctUl Deportment of.Labor

been developed in Germany wl dch some believe will soon gain a place in orchestras. By moving his hands back and forth before a highly mag-

THE CIRCLE THEATRE t ft Operating Jr THE CIRCLE THEA for eleven years a leader The Ohio Theatre The Uptown Theatre The Indiana Theatre i (in association with Publix Ttheatres Corp’n.) m The Indiana Ball Room atop the Indiana Theatre

TRY A WANT AD IN THE TIMES. THEY WILL BRING RES!#

But the United States, with only 7 per cent of the world’s population, has 40 per cent of the world’s supply of electric power—thirty-five million horsepower, which, on a basis of eight hours workday for human labor, is equal to the muscu lar capacity of one billion fifty million men. Thi

All this has been done by privately owned panies. The principle of private initiativ been one of the foundations of the nation’s si The Indianapolis Power & Light Coi and its predecessors have kept pace with tn*. development in the rest of the country. Its electrical capacity is 150,000 horsepower—equal to the muscular capacity of four million five hundred thousand men. This cheap and abundant power, available always far in excess of possible demand, turns the wheels of Indianapolis industry, lights the homes, stores and offices of Indianapolis people, and illuminates the streets. It is undoubtedly the greatest single material factor in the growth and prosperity of • the city.

enormous supply of ches power is the greatest sing factor in the tremendo production and resulta prosperity of this count as compared with the r of the world. And while the cost most commodities has gr< ly increased, especially s 1913, the rates lor e!e( service have steadily dined, due to the initia the resourcefulness am inventiveness of the m the industry.

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netized meti , ;fwv the operator f a tone whi jCj? ! stringed instr