Indianapolis Times, Volume 40, Number 252, Indianapolis, Marion County, 11 March 1929 — Page 14

PAGE 14

FIRMS SHOW 4 BILLIONS IN 1928 PROFITS Increase in Earnings Over 1927 of 15 Per Cent Is Recorded. Bu Times special WASHINGTON, March 11.—Nine hundred American corporations made crand aggregate net profits In 19f;8 of approximately $4,000,000,000, according to a compilation made by the National City Bank of New York. This is 15 per cent more than the same corporations earned i 1927, and 13 per cent more than th% earnings of 1926, which was considered a good year. Big production and big trade continued through January and February, the bank said, and the Hoover administration opens with fine prospects. Steel operations are at record levels, supported by heavy demands from auto, implement and machinery makers, and railroads. Cotton mills consumed the second largest monthly total in history of raw cotton during January, and even the woolen industry, depressed for several years, shows improved prospects. Railroads earned 4.71 per cent on their own valuation of their properties in 1928, and 5.55 per cent on the interstate commerce commission’s calculation, although the number of passengers carried was the lowest in twenty years, and passenger traffic has declined 33 per cent since 1920. The bank’s statisticians pointed out that ninety-five public utility companies earned $857,000,000 in 1928, a gain of almost 11 per cent over 1927, and that ninety-three telephone and telegraph companies made $255,000,000, an increase of 9 per cent. Steel production established anew high record of 50,000,000 tons in 1928, and United States Steel Corporation earned approximately $114,000,000, against $88,000,000 in 1927.' Profits of the independents also increased.

ELSIE JANIS BATTLES WITH SERIOUS ILLNESS Doctors Decide Condition Too Critical for Operation. Bv United Press PARIS, March 11—Elsie Jams, ■whose songs bolstered the morale of American soldiers in France, today was fighting a serious infection of the lungs with the same spirit which carried her through many strenuous days in war time. Miss Janis was to have undergone an operation for appendicitis, but physicians considered it would be dangerous at this time and the operation was postponed. Her condition is serious. PREDICT FORT GROWTH Harrison to Be Biggest U. S. Post, Says Senator. Addition of $400,000 to the $600,000 building appropriations already made will make Ft. Benjamin Harrison the nation’s leading army post was the forecast of Senator Arthur R. Robinson, who returned here from Washington. “Fort Harrison is now the third ranking fort in the nation and when the building program now under way and the $1,000,000 appropriation is expended it should become the leading military unit of the country,” Senator Robinson said. Noted Sportsman Dies Bu United Press WORKSHOP, NOTTINGHAMSHIRE, England, March 11.—Sir John Robinson, 89, the “jolly squire of Workshop Manor,” died here today. He was a brewer and a noted owner of race horses; among them neing the famous 1923 derby winner “Papyrus.”

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Radio to Talkie

Talking movies are picking talent from radio singers and women, naturally, are getting first call. One of the first radio singers to turn “talkie” is Myrtle McLaughlin, Irish soprano at KPO, San Francisco, She is to sing in two MGM pictures

In Air Today

Weather conditions at 9:30 a. m. at Indianapolis airport: South wind, 16 miles an hour; barometric pressure, 30.29 at sea level; temperature, 45; ceil and visibility unlimited.

JURY TO PROBE OIL STOCK SALE Thousands Alleged to Have Been Swindled. Bu Times Special WASHINGTON, March 11. A grand jury will meet at Ft. Worth this month to investigate the alleged sale of fake oil stocks by which persons throughout the country are said to have been swindled out of large sums. The postoffice department has had ten of its most able inspectors in Texas for the past few weeks gathering evidence, it was learned. Most of this evidence has been turned over to the department of justice and Attorney-General William D. Mitchell will assign special attorneys to go to Ft. Worth as soon as the federal grand jury is impaneled. Operations of the speculators are said to include selling stock on claims on which no leases have been obtained; using capital obtained from mail solicitations to declare fake dividends so that the investors might be persuaded to put in more money and making claims of oil gushers which do not exist.

ITALY FAVORS PEACE But Will Defend Self Always, Says Mussolini. Bu United Press ROME, March 11.—The fascist political drive preparatory to a general plebiscite to confirm nominations to the Italian national assembly moved forward rapidly today. The campaign was opened Sunday with Premier Benito Mussolini’s speech before the first fascist quinquennial assembly in the royal opera house outlining accomplishments of seven years of fascist rule. The assembly election already is assured and only awaits popular indorsement. Mussolini’s speech touched on all phases of Italian national life, the fascist foreign policy and the ItaloVatican agreement. The premier emphasized that Italy desired world peace, but warned that she was ready to defend herself if necessary. The premier stressed his statement that the agreement with the Catholic church did not mean other religions were not tolerated or were suppressed in Italy.

SEIZE STILLS; HOLD 3 Negroes Arrested in Raid by Police; 2 Escape. The liquor-making activities of a ring of Negro bootleggers were halted Sunday night when a police raiding squad raided a shack on Hanna avenue, two blocks east of Carson avenue, confiscated two stills in operation, arrested three Negroes and fired a fusilade of pistol shots at two who escaped. Those arrested were Mrs. Elzora Brackenridge, 39; Leon Snowton, 29, and Ed Bowles, 29, all of 525 West Vermont street. CHURCH MERGER TOPIC Executive Committee to Discuss Union at Meeting. Proposal to unite the Reformed church in the United States, Evangelical Synod of North America and the United Brethren in Christ into the United Church in America will be one of the principal topics at the twenty-third triennial meeting of the Reformed church executive committee May 22 to 29 at the First Reformed church here. Fear Flier Dead in Sea Bn United Press „ NOTTINGHAM, England, March 11.—A. C. Pearcy, of the Nottingham Aero Club, today was believed to have perished when hi ' e fell in the ocean fifty miles off the 1 island of Terschelling. Pearcy left Saturday with fuel for three hours.

—Aviation — FAMED CABINET OF AVIATION TO DE OWN UP Warner and MacCracken to Quit Service; Glover and Davison Stay. BY ALFRED P. RECK United Press Staff Correspondent WASHINGTON, March 11.—The air cabinet of the Coolidge administration is disbanding. Only two Assistant Secretary of War Davison and Assistant Postmaster General Glover, are to remain under President Hoover, it was learned today. The other two, Assistant Secretary of Navy Warner and Assistant Secretary of Commerce MacCracken, are to return to private life. During the last few years the four became as well known to aeronautics as the famous infield combination of Evers to Tinker to Chance did to baseball. Warner, Glover, MacCracken and Davison were names to be considered whenever aeronautics was discussed. The four are credited with doing as much if not more for the promotion of safe flying than any other group. Boasts Navy Aviation

Under the leadership of Edward P. Warner, navy aviation progressed rapidly and gained world-wide recognition. Likewise, F. Trubee Davison pushed army aviation to the greatest of efficiency it ever has attained. Warren Irving Glover, following the lead of Colonel Paul Henderson, former assistant postmaster-general, expanded the air mail until now it crosses and criss-crosses the country and branches out to many foreign lands. Under his direction, air mail routes were extended to Canada and southward into Latin America. Only recently, Glover witnessed the realization of one of his cherished plans, when air mail contracts were awarded which will provide service from New York to the furthermost tip of South America. Extends Air Mail It was Glover who was responsible for the extensions of the air mail to Nassau, Havana, Mexico, Central America and Panama. William P. MacCracken, as director of commercial aeronautics in this country, has done as much as any one person to make the nation air-minded and promote commercial flying on a safe basis. It was he who conceived the first international civil aeronautics con-* ference held here last December, participated in by virtually every nation in the world. MacCracken is known throughout the countiy as the greatest booster of commercial aviation. Under his direction air lanes have been paid out from coast to coast and from border to border. He directed and promoted the establishment of landing fields until today a flier can find a safe field in nearly every section of the United States.

Must Make More Money “I hate to give it up,” MacCracken said, “but in justic to my family I must. I have to make more money than the jcb here pays. I told the new secretary I must go, but I also told him I would remain until he can find someone to take my place.” MacCracken probably will return to law practice in Chicago, which he left a few years ago to come to Washington. He is seretary of the American Bar Association and a prominent corporation attorney. Major Clarence P. Young, a World war flier and director of the commerce department’s bureau of aeronautics, is mentioned prominently for MacCracken’s post. Young is in Europe on an airways survey. Warner, independently wealthy, is said to have no definite plans in mind. He is an engineer of established reputation and may return to his profession. Hopes to Extend Air Mail Bu Times Special WASHINGTON, March 11.—The eventual extension of the air mail service to every large city in the United States is the ambition of Postmaster-General Walter F. Brown, he said today. “I appreciate the great strides the air mail has made in the last year and I realize the possibilities for the future, as well as the desire of the American people for as speedy mail service as possible,” Brown said. “It will be my plan to ai-

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THE INDIAHAFOLIS TIMES

Sets Air Mark

With a howling gale at his back, Airmail Pilot Herbert P. Hopkins flew from Chicago to Cleveland in an hour and forty minutes, a new record for the trip. His average speed was 190 miles an hour. He learned to fly at Kelly field, Texas, before going with the National Air Transport Company.

tions and earning possibilities justhorize new lines as fast as conditify.” Brown is hopeful that a regular service to the principal cities of South America will be established within a reasonable time. The postoffice department now is operating seven “foreign” air mail services, including one each to Montreal, Vancouver, Cuba, Porto Rico and Nassau. French Fliers Reach Goal Bv United Press SAIGON, Indo-China, March 11. —Joseph Le Brix, noted French aviator, and his flight companion, Antoine Paillard, were resting here today after completing their Paris-Indo-China flight, which was interrupted two weeks ago by an accident which slightly injured them and destroyed their plane at Theinzeik, 120 miles east of Rangoon.

Mexico to Get Planes Bu United Press NEW YORK, March 11.—A fleet of airplanes, ordered by the Mexican government two weeks ago, will be flown from here to Mexico City the latter part of this week. The planes, on which the Vought Aircarft factory at Long Island City has been working night and day, are Waspmotored Corairs, duplicates of the planes used by the United States marines in Nicaragua. Each plane is equipped with two machine guns. Air Mail Flier Here W. H. Levy, of the Varney Airlines, operating an airmail route from Salt Lake City to Pasco, Wash., landed at Indianapolis airport, Mars Hill, Sunday, en route from New York to Wichita, Kan., in a Cyclone Stearman biplane. Stops on Detroit Hop W. C. Gould, flying a Challenger biplane from Louisville to Packard field, Detroit, landed at Indianapolis airport, Mars Hill, Sunday. New Mail Hookup Planned Postmaster-General Walter F. Brown has announced plans for extending the Cleveland, Columbus, Cincinnati, Louisville air mail route from Louisville to Dallas, Tex., by way of Nashville, Memphis, Little Rock, Texarkana and Ft. Worth. An extension from Memphis to St. Louis will be a part of the new system. Indianapolis would connect wiht this route through the Embry-Riddle Company’s Cincinnati-Indianapolis-Chicago route.

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—Aviation — CAPITOL WILL EXPAND PLANE SERVjCENORTH New Schedule to Allow Stopovers in Chicago and Detroit. Change in schedule of Capitol Airways planes to Detroit and Chicago which will permit a business i trip to either city with six hours j or more stopover, and return the same day, was announced today by ! President E. 11. Jose. The new schedule will become 1 effective early in April. Arrangements also have been made, under the new schedule, for passengers to connect at Chicago with the Universal Air Lines route to Rochester, St. Paul and Minneapolis. The new schedule was worked out by Lee H. Hottel, traffic manager. On the Chicago route the plane will leave Capitol airport at 6:50 a. m., and at Chicago at 9:25 a. m. There it will connect, at the same hangar at the municipal airport, with the plane for Rochester, Minneapolis and St. Paul, leaving Chi-, cago at 9:45 a. m. and arriving at St. Paul and Minneapolis at 1:05 p. m. Returning, the Universal plane leaves the Twin Cities at 12:01 p. m., arriving at Chicago at 3:30 p. m., allowing thirty minutes, rest before starting the return trip to Indianapolis on the Capitol line at 4 p. m., arriving here at 6:45 p. m. Under the present schedule, the plane left here at 8:15 a. m., and made only brief stops at Chicago and Detroit before starting the return trip. The Detroit schedule will be: Leave Indianapolis, 7 a. m.; arrive Ft. Wayne, 8:10 a. m.; arrive Detroit 9:35 a. m. central standard time, 10:35 eastern standard time. Leaving Detroit on the return trip at 3:30 p. m. central time, the plane will arrive here at 6:25 p. m. Arrangements have been made at Detroit to connect with the Stout Air Lines at 4:45 p. m. eastern time for Cleveland. Under the new schedule, the flying time has been reduced from

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three hours, fifteen minutes, to two hours, thirty-five minutes on the Indianapolis to Detroit run. with an additional twenty minutes allowed for the return trip. Arrangements are being made for the Chicago plane to stop at Kokomo and the Detroit plane at Marion, and perhaps Toledo, if advance notice is given. Hottel said the company is considering starting a feeder air line to Columbus. 0., soon, to connect with anew line to be operated by the United States Air Lines, Inc., linking Cleveland, Columbus and Cincinnati. Two trips will be made dally on the United States lines in Ryan cabin planes, similar to those used by Capitol Airways.

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