Indianapolis Times, Volume 40, Number 117, Indianapolis, Marion County, 5 October 1928 — Page 22

PAGE 22

BANKERS PLAY, SATISFIED WITH WORK Convention Delegates Say Defects in Financial Structure Remedied. Bu United Press PHILADELPHIA, Pa., Oct. 5. Having finished their most important business, delegates to the convention of the American Bankers’ Association turned to amusement today. The bankers flocked to the golf links early and later were to be entertained at luncheons, dinners, and theaters. Surveying their work of the last week, many bankers expressed the conviction that much had been accomplished toward remedying the

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WpP ’ WHILE fcCITY SHIPS" Lon Chaney as a N. Y. detective again shows his ability to thriij. 2 MGM Movietone Vaudeville 3 MGM Movietone Vaudeville *HARRIS LEO BEERS Musical comedy star in new ~ , ... Son g S Novelty songs and whistling 4 Hal Roach Sound Comedy g p 03C QmfcCBASE] MOVIETONE Imagine my embarrassment news ®MGM News 7 Lester Huff Events HIS OWN VITAPHONE SOLO “CUB DANCING DACGHTEES” WITH JOAN CBAW-Vlj-QQrf EOBD. COMEDY, NEWS A^BACTIONS^

defects in the financial structure of the nation. A resolution urging the limitation in “some reasonable manner’’ of “bootleg loans” in the call money market was adopted yesterday, but no suggestion was made as to how to prevent individuals, corporations, and institutions from making loans against stocks and bonds, a procedure netting 7 to 10 per cent. “Many corporations have been supplied with funds for which they have no use during the major part of the fiscal year and which they have utilized by making loans against tsocks and bonds,” said the resolution, which was adopted unanimously. “At the same time we continued to make loans to Europe which, followed by exports of gold, resulted in a net loss of $500,000,000 in gold, and lessened to that extent our surplus reserves.” The resolution added that because of the unprecedented interest of the public in stock investments and favorable business developments, the demand for stock exchange loans was increasing. The original or wild forms qf citrus fruits have never been discovered by botanists.

AMUSEMENTS

3IOTION PICTURES

How the little konwn James K. Polk won thev presldeney In • duelwith Henry Clay Is told in this chapter of “The Presidential 1 arade, renewing years of presidential campaigning. BY RODNEY DUTCIIF.R NEA Service Writer (Copyright. 1928. by NEA Service) HASHINGTON, Oct. s.—The first dark horse galloped into the Democratic national convention of 1344. He was James K. Polk of Tennessee. He was obscure then and he is obscure today. He never would have been elected President had not the Abolitionist party taken just enough votes from Henry Clay in a close race to beat the great compromiser in his nearest approach to the White House. Clay might have won anyway had not the Whigs been forced to repudiate their President, John Tyler, who “turned Democrat” and robbed them of the iTuits of their great ballyhooed victory of 1840. Old William Henry Harrison had aged and weakened before the onslaughts of offleeseekers anxious to replace Democrats. In his one short month of office he defied both Clay and Webster as they sought jobs for friends. ,

Harrison Vent to market In the rain without his coat and caught cold. Delirious, he died screaming excuses to women whose husbands had been fired from Federal jobs, refusing patronage and howling at applicants. Tyler Acts Swiftly Tyler, some said because of his rage that the vice presidency gave him no patronage, had retired to his Virginia estate. Webster went dashing after him. No previous President had died in

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office, so the question arose whether Tyler should be acting President or what. Tyler sent Congress a massage signed “John Tyler, President,” and that settled it. Clay dominated Congress and the Whigs were celebrating by putting through his new fiscal program. Tyler vetoed the first Clay bill and when another had been framed to suit his wishes, vetoed that. Democratic members hastened to the White House to congratulate him and Tyler opened champagne.

MOTION PICTURES

THE INDIANAPOLIS TIMES

Everybody drank toasts damning Clay. Tyler's cabinet, appointed by Harrison, resigned except for Secretary of State Daniel Webster, who stayed to conclude a treaty with England. Tyler Is Repudiated Then the congressional Whigs formally and publicly repudiated Tyler. Tyler hoped for the 1844 Democratic nomination, foolishly enough. His few friends even held a convention and gave him a nomination, but he soon withdrew in despair. Even a Democratic Senator publicly had called him “the meanest renegade who ever left his party.” Shrewd politicians “ganged” Van Buren as they had Clay in the Whig convention of 1840. His great enemy was Calhoun, who sought the presidency on the issue of immediate annexation of Texas with an inevitable war with Mexico. Through intermediaries and alleged trickery, the aged Jackson was persuaded to write a letter urging immediate annexation. Van Buren favored annexation by peaceful means and when Calhoun made him

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3IOTION PICTURES

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admit that, his bravery in taking such an unpopular stand cost him, as Jackson mourned later, the nomination of his party. Van Buren Is Ruined Clay and Van Buren had made a gentlemen's agreement to ignore annexation as an issue in the election campaign. Both opposed the Texas treaty, which meant war. But Van Buren’s letter was dragged out just before the convention and it killed him in the South, which was rabid for annexation because it would strengthen the slave power. “Harry Clay of the West” was unanimously nominated by the Whigs and the campaign issues be-

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came Texas and tariff, the latter Clay’s pet hobby. Jackson and Clay were meeting for the last time; again Jackson won. Van Buren supported Polk, probably out of deference to the dying Jackson’s great hatred for Clay. The election hinged on New York. Abolitionist Birney got 62,000 votes. His 15,000 in New York included the 5,000 Whig votes Clay needed to carry the State and the electoral college. The v<Jte: Ponular Electoral Polk 1.337.000 170 Clay 1,209,000 103 NEXT—Slavery becomes the issue in 1848.

MOTION PICTURES

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OCT. 5, 1928

PETROLLE, TUT MEET MINNEAPOLIS, Oct. s.—Billy Petrolle of Fargo, N. D., lightweight title contender, and King Tut, local pug, will meet here Oct. 16.

AMUSEMENTS

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