Indianapolis Times, Volume 41, Number 229, Indianapolis, Marion County, 3 February 1930 — Page 5

FEB. 3, 1930.

NAVAL PARLEY ENVOYS STRIVE FOR RESULTS Second Warship Conference Probably Will Meet in Five Years. BY WILLIAM PHILIP SIMMS Beripo-Howard Forelcn Editor LONDON, Feb. 3.—Certain definite results, more or less sweeping In character, are now expected from the five-power naval conference What can not be done here and now will be carried over, so to speak, un--til the next conference, probably in 1935. Another conference already is virtually assured. Certain agreements like the fiveyear battleship building holiday may be considered as good as signed. i Others are almost as certain, while 'the general feeling in inside circles is that an agreement most satisfactory in scope, is more likely now than ever before. Do All Possible Secretary Stimson’s formula Is the unwritten law of the conference. It Is that the conference will go just as far as it can without any nation feeling it has been put at a disadvantage with the others. Then delegations will go home to await further crystallization of sentiment favorable to new reductions and limitations. A certain amount of progress toward naval limitation and reduction is assured short of new obstacles which are not apparent. In fact, it is learned from excellent authority that informal discussions among the delegations have been carried to a point much nearer solution than the public believes. Th° writer is informed that once the t 'Lous and important but not vital a Missions as to methods are concludt other matters may be handled *ith surprising rapidity. - Expect Early Close More than one insider predicts an agreement by March 1. Forecasts always are dangerous. But borrowing the sport editor’s idea of naming the order in which next # season’s big league teams will finish, " the following guess on the results of the conference is hazarded: A battleship building holiday until 1936. Another conference between now and then. A cruiser limitation agreement subject to re-examinatton at the next conference. Great Britain to stand on a minimum cruiser estimate of around 340.000 tons. United States to build at least ten big cruisers to give her eighteen 10.000-ton cruisers. Japan to stand pat on her demand for twelve eight-inch gun cruisers built and building, seven of which are of 10,000 tons and five of which average 7,600 tons. Recognition of Italy’s right to parity with France, but leaving France with a tonnage higher than Italy will care to build. Limitation but not abolition of jr.ibrrarines.

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‘TEA KING’ PASSES Noted Canadian Dies of Heart Disease. By United Press LONDON, Feb. 3. —Peter Charles Larkin, high commissioner of Canada to the United Kingdom, since 1922, died today at his home here. Larkin was one of the best known figures in the British world of commerce. As president of the Salada Tea Company, and known as the "Tea King of America,” he was the originator of the modern system of delivery of that product to the public in seal lead packets. Larkin was born in Montreal May 13, 1856, and educated in schools of his native city and Toronto. He was widely known for his philanthropies. Death was due to heart disease.

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AMERICAN GAS FIRST UNDER U. SCRUTINY Federal Group to Begin Inquiry Into Holding Companies, Bn United Press WASHINGTON, Feb. 3. The American Gas and Electric Company group, subsidiary of the Electric Bond and Share, will be the first to come under scrutiny of the federal trade commission when it begins its inquiry into the financial structure of holding companies. This first hearing will be held Feb. 18 Instead of Feb. 4, to give the commission more time to prepare its case. At that time, officers of the company will be called to testify, though the commission has not made public which of these will be called. Accountants of the commission will testify also.

THE INDIANAPOLIS TIMES

I-C X.T Registered O %. MJ j Patent Offic*. RIPLEY

21 STORM VICTIMS Lives Reported Lost as Gale Pounds Coast. Bv United Prest LONDON, Feb. 3.—Twenty-one persons are believed to have lost their lives today as the result of destructive storms that founded shipping from the Gulf of Finland to the Mediterranean. Twenty of the crew of the Danish steamer Nelly were reported drowned when the ship went ashore in the Gulf of Finland. One man was swept overboard from the British steamer Trevean, fifty miles southwest of Falmouth. The steamer, badly damaged, was proceeding to port at half speed, The water power resources of Canada have been estimated to be more than 19,000,090h0r5e power.

INDIANA FLOOD REFUGEES BEGIN BUILDING WORK Families Return to Homes; Food Plane Fleet Is Decreased. By United Press EVANSVILLE, Ind., Feb. 3.—Relief work turned to efforts of rehabilitation today as warmer weather loosened the grip of water and ice in the inundated southwestern Indiana district. While many families w ? ere returning to their water damaged homes, now out of the reach of the receding waters and other were released from homes where they had been marooned since the flood waters trapped them three to four weeks ago, and were seeking more comfortable quarters. Indicative of the improvement in the situation, two of the four national guard planes stationed at the Evansville air base to aid in relief work, today were ordered to return to Indianapolis. According to Captain Earl Sweeney, national guard aviator, two planes now can care for distribution of food to persons isolated by the water. The ice gorge in the lower Wabash river that had been sending flood waters over lowlands in southern Illinois, was moving out today. The melting ice was reported to be drifting downstream without threatening damage. Loosening of the jam released the water damned behind it. ENCYCLICAL IN ENGLISH By Times Svccial WASHINGTON, Feb. 3.—For the first time in history an official translation of a papal encyclical or similar document into the English language has been issued from the Vatican, The official English translation of the latest encyclical of Pope Pius XI on Catholic education just has arrived in this country and is being published in pamphlet form by the National Catholic Welfare Conference. Heretofore, such documents have been issued in Latin. The official translation differs in some respects from what previously has appeared in the press. _

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Author of Jones Law Is True Prohibitionist

EDITOR’S NOTE—Thl* is the seTenth of aeries of sketches of leaders in earrent congressional prohibition controversy. BY PAUL R. MALLON Tnited Press Stall Correspondent WASHINGTON, Feb. 3.—From the age of 5 Senator Wesley L. Jones has been a prohibitionist. The author of the Jones law, fixing five years in jail and SIO,OOO fine as a maximum penalty against violators of the Volstead act, obtained his abhorence of rum soon after he learned to walk and before he started to school. In front of the Jones log cabin in a dry township of central Illinois, Jones was playing with his mother one afternoon when he saw a man staggering along the path of a nearby woods. The man fell to the ground, lying there until he caught hold of a sapling to try to pull himself up. He nearly regained his feet when the sapling gave way and he slipped again into the dirt. “That man is drunk,” Mrs. Jones told her young son. When he was 10. there was some talk at the family table about a druggist who was being tried for having sold liquor. There was no drinking in the Jones family. The township was dry under local option and drunkenness was not very widespread. Later in southern Illinois, where Jones spent part of his boyhood, he lived in another temperance community. The first time Jones really encountered liquor was when he moved to Yakima, Wash., but by that time he was opposed firmly to the use of alcoholics. There were many saloons In the town of 800 inhabitants. He never held public office there, except for three weeks when his law partner, the district attorney, was away and he filled the post. There were no liquor cases during the three weeks. Jones shunned the bars of Yakima like he shunned the bar in the basement of the Capitol when he came to Congress. He noticed, during his early Washington days thirty years ago, that many drunken senators and congressmen appeared on the floor in debate. He believes one of the benefits of prohibition is shown in the fact that very few members have appeared to be inebriated in recent years. The Washington Republican, who holds one of the most influential positions In the congress as chairman of the senate appropriations

committee, WTote the Jones law because he believed sentences being imposed on bootleggers were inadequate, He did not contemplate that the maximum penalties would be used against slight offenders, but that they would be employed against wealthy bootleggers to whom a small fine was inconsequential. Jones will have charge of the appropriations for prohibition enforcement next year when the bill ccmes up in the senate. It is indicated he will oppose any increase in the $33,000,000 appropriation provided by the house.

Gone, but Not Forgotten

Automobiles reported to police as stolen belong to: J. H. Gallagher, 1409 Shelby street. Chrysler touring, 94-880. from Hunter and Prospect streets. William H. Simpson, New Bethel, Ind.. Ford roadster, 15-246, from Shelby street and Woodlawn avenue. Jessie Tansy, 2403 North Gale street, Ford half-ton truck, from Station street and Roosevelt avenue. Carl H. Weyl, 3920 Guilford avenue, 66-778, from Pennsylvania and Maryland streets. Bessie Sullivan, 3010 Central avenue, Ford coupe, from in front of same address. Elmer J. Rork, 4555 College avenue, Nash sedan, 4-555, from Court and Pennsylvania streets. Clellan Chambers, 23f0 Pierson avenue, Chevrolet sport coupe, 74061, from Broadway and Fall Creek boulevard. Charles Greenland, 515 East Tenth street, 75-411, from 315 East Tenth street. Elmore Jenkins, 2813 McPherson avenue, Oldsmobile touring, 93-321, from 2114 Miller street. H. C. Moore, 1469 North Alabama street, Ford coupe, from 2300 North Station street. Grand Union Company, 1203 Cornell avenue, Ford truck, T 8-902, from garage at 1203 Cornell avenue.

BACK HOME AGAIN

Stolen automobiles recovered by police belong to: Buick sedan, found at Road 52 and White river.

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PAGE 5

MILLIONAIRES IN NAYION NUMBER ABOUT 40.000 1928 Income Tax Returns Show Huge Increase in Big Fortunes. BY JOSEPH S. WASNEY L nitrd Press Staff Correspondent WASHINGTON, Feb. 3.— Thd United States has one or two billionaires and about forty thousand millionaires, according to statistics of income for 1928 Issued today Dy the treasury department. The statistics showed that 496 persons paid income tax on incomes that totaled more than $1,000,000 during 1928, the largest number in this class of wealth ever reported. In 1927 there were but 290 persons paying taxes on incomes of more than $1,000,000. Treasury officials estimated that the majority of people who paid taxes on $50,000 or more could be rated as millionaires. An income of this size rates a $1,000,000 principal, although many of these incomes consist of salaries rather than returns on invested capital. Income tax returns filed last year showed 241 people had incomes between $1,000,000 and $1,500,000; 105 reported incomes between $1,500,000 and $2,000,000; eightyfive between $2,000,000 and $3,000,000; twenty between $3,000,000 and $4,000,000 and $5,000,000. and twen-ty-four reported incomes of more than $5,000,000 for the year 1928. There were 5,050,959 individuals who filed income tax returns last year on 1928 incomes, but only 2,434,640 had taxable incomes. The aggregate net income was $24,625.483.175, and the tax liability was $1,142,259,780. There was a decrease of 71,283 in the number of returns filed, as compared with the previous year, but an increase in income of $2,052,170,268 and therefore an increase in taxes collected of $316,014,283. The average net income for 1928 was $6,078.93 and the average amount of tax liability was calculated at $281.97, or an average tax rate of 4.64 per cent, the statistics showed.