Indianapolis Times, Volume 39, Number 325, Indianapolis, Marion County, 11 May 1928 — Page 27

MAY 11, 1928-

208 JAILED FOR - BUSINESS FRAUD BY CREDIT MEN ■ Report Shows Increase in Convictions in Fake Failure Plots. NEW YORK, May 11.—Convictions of 208 commercial criminals in United States and indictments against 419 persons charged with business fraud were secured by the National Association of Credit Men in the last twelve months, according to the annual report of Samuel Ardron, Jr., comptroller of the association, for the fiscal year ended April 30. The report, made public today, says that since the national credit protection fund of $1,400,000 was raised by the association three years ago, 444 commercial criminals have been convicted on the strength of evidence secured by the credit organization, and indictments have been returned against 1,142 persons, of whom 536 are awaiting trial. It says further that during the past twelve months 640 requests for investigations of bankruptcies were received by the association from business houses, and that in the preceding yearly period the number of requests was 789. “The decrease in the number of cases investigated is significant for two reasons,” the report says. “First, a great many fake failure artists are being sent to prison; and second, other dishonest business men are being discouraged from perpetrating fraud by fear of this new force in business. “Although the number of cases

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handled has diminished, the number of convictions secured has grown from 148 in the 1926-7 period to 208 in the last year. “Indictments have increased from 405 in the former period to 419 in the twelve months just closed. “It is difficult to estimate accurately the sum saved for business concerns by the forced retirement of several hundred active bankruptcy crooks, but it is reasonable to believe, in view of the lessening number of fraudulent failures, that vigorous prosecution efforts have prevented the loss of many millions of dollars.” / ~

LITTLE ‘LOOT’ IN U. S. LAND LEFT TO BENRATED Original Public Domain Is Reduced by Nearly 90 Percent in Size. BY RODNEY DUTCHER NEA Service Writer WASHINGTON, May 11.—Out of all this distressing scandal about the way Mr. Sinclair and Mr. Doheny got the navy’s oil reserves and the way other enterprising oil men obtained from the government the world’s richest oil field at Salt Creek, comes one sweet, consoling thought: The public lands, property of the people, offer little more to worry about. Enterprising pirates long since looted by far the better part of them and if any of value remain, someone must have blundered. Congress More Honest In addition to the fact that not much is left to grab, the fact that Congress is probably more honest and certainly far less susceptible to bribes and that conservationists in this century have been better organized and more militant must also be taken into account. The original public domain has been computed at 1,800,000,000 acres, more than five-sixths of the continental area of the United States. Vacant and unappropriated public lands now amount to about 190,000,000 acres, most of which is comparatively worthless, though more than 350,000,000 acres remain under jurisdiction of the General Land Office in one way or another. The government also retains more than acres of national forest preserves along with various lesser tracts held for government purposes. Land In Several States The public lands now vacant are in Arizona, Arkansas, California, j Colorado, Florida, Idaho, Minnesota, I Montana, Nebraska, Nevada, New Mexico, North Dakota, Oregon, South Dakota, Utah, Washington; and Wyoming. Some of the public lands now in private hands were acquired legiti- | mately. But tens of millions of j acres, according to authorities, were j acquired by fraud. The business of obtaining public lands by theft or bribery is almost ; as old as the reported impossibility j of convicting a man with a million dollars. PRINTERS’ FETE TONIGHT Fraternity Arranges for “Bowery Drag” Frolic at Crystal Palace. Alpha Sigma Tau, printers fraternity, will hold a “Bowery Drag” dance tonight at the/Crystal Dance j Palace, 729 N. Illinois St. A Ford “junker” will be awarded. Those on the arrangements com- j mittee are Lawrence Wise, chairman, Don Ragsdale and Don Ray.

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THE INDIANAPOLIS TIMES

WAR ON INFANTILE International Scientists Join to Combat Scourge. Du Science Service NEW YORK, May 11.—The scourge of infantile paralysis is to be subjected to a concerted international attack. Dr. William H. Park of New York University is chairman of the ccm-

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