Indianapolis Times, Volume 41, Number 284, Indianapolis, Marion County, 8 April 1930 — Page 13

Arm 8, 1330.

RICHARDSON IS ! INDORSED FOR LEGISLATURE Young Democratic Club to Lend Strong Support to Attorney. Incorporated to carry out the • Jeffersonian principles of democracy for protection of all citizens," the Young Democratic Protective Club. Inc., with a membership of 500, drafted and indorsed its president, Attorney Henry J. Richardson Jr., who filed for the Democratic nomination as state representative Saturday. Richardson la a graduate of Short ridge high school. University of Illinois, and the Indiana law school. He is 27 years old He is a member of the Elks lodge, Monday Luncheon Club and the lawyers’ Club. He resides at 1019 North West street. Among the many pledges of support received at the club headquarters was one from Dr. Benjamin A. Osborne (Dem.), 525 Udell street. ‘‘l am glad to support a candidate like you, who Is fearless in the effort to devise some workable solution for the social, economic, educational and political ; problems of our citizens," declared j Dr. Osborne. C'lnbs are Formed Representatives of the club are forming “Richardson for legislature’ clubs in practically every precinct of the city. “The Last Words 1 ' is to be the mid-week meditation of the Rev. M. W. Clair Jr.. castor of Simpson M. E. church. Wednesday evening. The Re/ J S. Crittendon of Richmond is in rhar of pre-Easter revival services which opened Mondav night at Mt. Zion Baptist church, of which the Rev. a. B. n-itlcr is pastor. Services are to continue through Easter. Miss Hazel J. Alexander is sponsor for a fashton show to be given under auspices of the iunior stewardess board of Bethel A M. E. church Monday night, April 14. Mrs. Marv Brvant is president. Bt. Monica's guild of St. Philip's Episcopal church will meet tonight with the president. Mrs. Lillian Courtney, 3705 Shriver avenue. Dinner Parlv Given Miss Murray Atkins has returned from a visit with frirnds in Chicago. Mrs. Svl’ ia Daniels Swan of Detroit was honor guest at a dinner party given by Mrs. George Hardin. 1849 Fulienwider treet. Friday. With Mrs. Hardin were Mrs. Cora Anderson. Mrs. Vanetta Fisher. Mrs. Mabc! Van Horn, Mrs. Daniels, and Mrs. Lillian Lemon. Lenten services under direction of Phyllis Wheatley Y. W. C. A. and the Interdenominational Ministers’ Alliance are being conducted each day at the Phvllis Wheatiev branch and the Walker theater. The Rev. R. H. Bowline of Norfolk. Va.. is In charge of services during the week. Services are held at the Y. W. C. A. each morning at 10:30 and at 7:30 each evening. A noon-day service Is held in the theater at 13:05. The public Is Invited. An exhibition of work done In the manual training department of the night school at School 43 Is to be held Wednesday night at the building with Marimon Hansburv director, in charge. Harry E. Wood, head of vocational work in the city schools, is to speak. The public Is invited to attend. E. W. Diggs Is principal. Omega Meeting Called Omega W'ves will meet Friday at 0:30 with Mrs. E. D. Moten, 1330 Cornell avenue. Mr. and Mrs. Samuel Sanders. 631 Patterson street, left today for Gallatin, Tenn.. where they will live. Annual spring banqv-t of Mary Campbell Mite Missionary Society of Bethel A. M. B. church Is to be held In the church lecture room tonight. Mrs. Julia Jefferson is president. Election is to be held at the regular meeting of the Old Settlers Civic and Social Club, Inc., which meets tonight with Mr. and Mrs. Guy Corley, 2714 North Capitol avenue. Mrs. Ella Covington Is president. Eductaional aid 13 the purpose of the Wilberforce Booster Club, recently organized at St. John A. M. E. church of which the Rev. R H. Hackiey Is pastor. Miss Margaret Hopkins will be hottess to the club at her home. 3213 Arsenal avenue. Miss Eleanor Bryant Is president and Miss E. Garnett Is secretary. Mrs. Beatrice Guinn, a student of Miss Mattie L. Stovall, was presented to an appreciative audience at the 6amartan Baptist church Monday night. Mrs. Guinn la to receive an academic certificate In June from the Cosmopolitan School of Music. Member Drive Spurred A musical program and addresses are to be given at the Y. M. C. A. In the interest of the membership campaign Wednesday at 8 p. m.. 500 members is the goal set by directors of the four divisions of workers. Junior students of Miss Ellen V. Thomrs are to be presented m recital In Jordan Muste hall of Phyllis Wheatley Y. W. C. A. Sunday afternoon. April 27. The program is under auspices of the religious education committee. East Side Business and Civic league will meet Wednesday night at the J. T. V. Hill Community Center. Dr. Lucian B. Merlwather is president. Evangelistic services are being conducted each night at the Barnes M. E. church by Mrs. Anne Thompson of Chicago. The Rev. Robert E. Skelton Is pastor.. 812 er Leaf Art Club of Bethel A. M. E. church will meet tonight with MI6S Arabella Jackson. 915 West Twenty-seventh street. Negro art week Is to be observed the week of April 30 at the Y. M. C. A., Michigan and North Senate avenue. The INTERNATIONAL PAPER and POWER COMPANY TV* Board of Director* ha* declared a regular quarterly dividend of I*<96 OB the 7% Preferred Stock of this Company and a regular quarterly dividend of on the 6* Preferred Stock of thia Company, payable April 15th, 1930, to holder* of record at the close of business March 29th, 1930. Checks to be mailed. Transfer books will not close. R .G. L*wj, Asa i. T Mam., March 19, 1950. James T. Hamill & Company BROKERS ' Indiana polls MEMBERS Chicago Mock Fxrhaaft Thing* Board of Trad* Indianapolis Board of Trad* Associated New York Carb 203 Continental Bank Bldg. Tai Riley 5493 Riley MM

BELIEVE IT OR NOT

, t U.D .UITOri" ‘ ' KNEE-BREECHES f Mlffi \ WITHOtJT sr ° oPwa ; • COKTEMICTMG PROVES t FINE FEATHERS MAHF FINE BIRDS" ' UDON ' TJUKe * 9OM ** Waff fj/t w ' LB UR. PRESCOTT “““ ** >?ij? \ * ~° l Frederick, OKI*. f rt£ RECORD DRIFT - A BOTTLE TRAVELED 9000 MILES t S*' * RAS 2 ADAM’S APPLES. DROPPED OFF CENTRAL AMERICA IN 1927- AND FOUND AMONG a 1 13). Kmt Symlmt*, 1. Great Bt'UWl right. retetve* THE PHILIPPINES iN 132.3.

exhibit will Include work of the bes' known artists In America, all of whom have been competitors in the Harmon exhibits. Gallery Talks Slated Features of the exhibit are gallery talks by instructors from the John Herron Art Institute and receptions. Contributors to the exhibit Include William E. Scott, William Farrow, and Hale Woodruff, formerly of Indianapolis; Albert Smith. Frank J. Dillon. F. C. Alston

Continental Illinois BANK AND TRUST COMPANY CHICAGO Statement of Condition at Close of Business, March 27,1930 RESOURCES Cash and Due from Banks . • • $ 199,291,8/0.07 U. S. Gov't Bonds and Treasury Certificates . 90,5 19,00/.9 1 Demand Loans Secured by Collateral . £257,858,911.03 Time Loans Secured by Collateral . 211,880,969.70 Other Loans and Discount, 170,002,196.33 639,742,077.06 Bonds and Other Securities ... 75,027,272.84 Stock in Federal Reserve Bank . * 4,200,000.00 Customers’ Liability under Letters of Credit . 27,913,836.54 Customers’Liability under Acceptances . . 37,181,222.66 Other Banks’ Liability on Bills Purchased and Sold 33,526,979.55 Interest Accrued but Not Collected . 3,115,159.12 Bank Building 15,000,000.00 Other Real Estate 271,269.53 £1,125,788,695.28 LIABILITIES Capital . £ 75,000,000.00 Surplus 65,000,000.00 Undivided Profits' ...... 7,650,262.28 Reserve for Contingencies .... 10,000,000.00 Reserve for Dividend Payable April 1 3,000,000.00 Reserve for Taxes and Interest . . 8,154,969.60 Other Reserves 2,367,412.48 Liability under Letters of Credit . . 28,959,581.94 Liability under Acceptances . . . 37,914,145.81 Liability on Bills Purchased and Sold . 33,526,979.55 Discount Collected but Not Earned . 1,040,004.45 Denosits ' Demand • £631,660,347.56 P /Time . . 221,514,991.61 853,175,339.17 £1,125,788,695.28 Deposits £ 853,1/5,339 Resources 1,125,788,695 Invested Capital . . . . 169,782,935 CONTINENTAL ILLINOIS COMPANY . CAPITAL £20,000,000 Tb* capital stock of this Company is owned bv th* stockholder* of tb Continental Illinois Bank and Trust Company

On request, sent with stamped addressed envelope, Mr. Ripley will furnish proof of anything depicted by him.

A rthur Diggs, Ben H. Johnson, K. D. Ganaway and John Hardrick. Mrs. Jeanette Carey has returned from Detroit, where she spent her spring vacation. Mrs. Flora C. Davis. Isaac Carter, and William F. Bell have returned from a motor trip to Murfreesboro. Tenn. Pastor Dies in Pulpit EBERHARD, Ind., April B.—The

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Rev. Samuel E. Slater, pastor of the Lutheran church here, was stricken with heart disease as he completed a sermon and died after asking the choir to sing “What a Friend We Have in Jesus." He had held pastorates in Indiana cities for more than twenty years.

DAY PARADE TO OPEN DASEBALL SEASONIN CITY Eight Bands, Drum Corps to Lead Line of Floats April 15. Plans for the most colorful baseball opening day parade ever to usher the American Association season Into Indianapolis were being developed today by a Chamber of Commerce athletic committee, with Hubert Riley, chairman. Civic and luncheon clubs, department stores, fraternities and social groups will enter floats and decorated automobiles in the pageant April 15, in which will be asesmbled eight bands and drum corps. A silver cup will be awarded by the Indanapolis Power and Light Company to the organization with the largest proportionate membership in the parade, while the EmRoe Sporting Goods Company will offer a trophy to the best decorated float. Drum Corps to Play Besides the military band supplied by the Indianapolis baseball club, the following musical organizations and drum corps will play: American Legion drum and bugle corps, Shortridge high school band, Washington high school band, Indianapolis Newsboys’ band. Butler University band. Cathedral high school band and Arsenal Technical high school band. Organizations which already have entered floats or autos are: Many Enter Floats Gyro Club. Altrusa Club. Board of Trade, Kiwanis Club. Columbia Club, West Washington Street Merchants’ Association, Junior :_<eague, Indianapolis Park Board, American Business Club, Caravan Club, Indianapolis Power & Light

$50,000,000 Erie Railroad Company REFUNDING AND IMPROVEMENT MORTGAGE 5% GOLD BONDS SERIES OF 1930 Dated April J, 1930 - Due April 1, 1975 Interest payable April 1 and October I in Seic York City Redeemable in whole or in part, at the Company's option, upon 60 days' notice, on any interest payment date, at the following prices and accrued interest: On or prior to October 1 9 1966 , at 105%; thereafter on or prior to October I, 1971, at 102*/i%; and thereafter, at 100%, Coupon Bonds in denominations of SI,OOO and SSOO, registerable as to principal. Registered Bonds in denominations of SI,OOO, $5,000 and SIO,OOO. Coupon and registered Bonds, and the several denominations of each, interchangeable. The issue and sale of these Bonds have been authorized by the Interstate Commerce Commission. \ BANKERS TRUST COMPANY, NEW YORK, TRUSTEE. C. E. Denney, Esq., President of Erie Railroad Company, has summarized as follows his letter to us regarding this issue: ERIE RAILROAD The Erie Railroad System covers the so-called trunk line territory and serves the important SYSTEM gateways and traffic centers of Buffalo, Cleveland, Youngstown and Akron, and Scranton and the anthracite coal fields of Pennsylvania. Its main line from New York to Chicago has a high freight traffic density and, except for a distance of nine miles, is double-tracked throughout. The total mileage operated is 2,316 miles. In 1927 the management made plans for extensive improvements to motive power, rolling stock and road bed. This program has since been actively followed and has already resulted in substantial operating economies. purpose These $50,000,000 Bonds arc being issued to provide for the retirement of $20,486,500 principal of issue amount of bonds maturing this year, for the reimbursement of the Company's treasury for $5,442,250 of matured obligations heretofore acquired and for other corporate purposes including reimbursement for past expenditures for additions and betterments. That part of the proceeds not required for the retirement of the above-mentioned $20,486,500 bonds maturing in 1930 will be applied to the payment of $5,000,000 short term notes, toward the Company’s 1930 budget of about $32,000,000 for additions and betterments, and to other corporate purposes. EARNINGS Years Ended Gross Operating Income Applicable Total Net December 31 Revenues to Fixed Charges Fixed Charges Income 7925 $118,543,455 $21,698,418 $14,969,112 $\6,729.306 1926 125,473,504 24,927,370 14,813,977 10,113,393 1927 122,478,354 18,461,587 14,948,938 3,512,649 1928 124,976,542 24,722,439 14,719,555 10,002,884 1929 129,230,437 26,170,579 14,492,870 11,677,709 During the five-year period covered by the above table, annual income applicable to fixed charges averaged 1.57 times total fixed charges. Income applicable to fixed charges in 1929 amounted to 1.81 times total fixed charges. As $17,574,500 bonds being refunded by this issue bear interest at the rate of 7%, a substantial saving in interest charges will result in respect of bonds issued for refunding purposes. SECURITY The Refunding and Improvement Mortgage, under which $100,000,000 of 5% bonds will be outstanding upon the issuance of these Series of 1930 Bonds, is a direct lien on the entire 858 miles owned in fee, including the important mileage crossing the State of New York from Piermont on the Hudson River to Dunkirk on Lake Erie. It is also a lien upon the Company’s rights by stock ownership and/or leasehold in 1,284 miles of road, or substantially all the rest of the mileage of the System. The Mortgage is further secured by a lien on the capital stock of the Pennsylvania Coal Company, which leased as of January /. 1930 to The Pittston Company, the anthracite coal properties formerly operated by it and Hillside Coal and Iron Company. The lien of the Refunding and Improvement Mortgage on the above-mentioned mileage, leasehold and other rights, and pledged stock is subject to the liens, so far as they attach, of underlying mortgages and a collateral trust indenture securing $161,374,200 bonds outstanding in the hands of the public. equity The Company’s capital stock, consisting of $47,904,400 par value First Preferred Stock, $16,000,000 par value Second Preferred Stock, and $151,116,700 par value Common Stock, has an aggregate indicated market value, based on current quotations, of approximately $129,006,000. In 1929 dividend payments at the rate of 4% per annum were resumed on both the First Preferred and Second Preferred Stocks. The foregoing is subject to the more complete statements contained, in the circular, a copy of which may be obtained upon request. THE ABOVE BONDS ARE OFFERED. SUBJECT TO PRIOR SALE AND TO THE CONDITIONS STATED BELOW, AT 951/2% AND ACCRUED INTEREST, TO YIELD OVER 5.25% TO MATURITY The right is reserved to reject any or all applications, and also, in any case, to allot a smaller amount than applied for. All applications will be received subject to the due issue and sale of the Bonds as planned, and to approval by counsel of the form and validity of the related, documents and proceedings. The amounts due on confirmed sales will be payable at the office of J. P. Morgan & Cos., in New York funds to their order, and the date of payment (on or about April 25, 1930) will be stated in the confirmations of sale. Temporary Bonds, exchangeable for definitive Bonds when received, aie to be delivered. i J. P. MORGAN & CO. FIRST NATION AT; BANK, New lark THE NATIONAL CITY COMPANY Ktw York, April 8, 1930.

Back the Indians! CHARLES E. KASER, 1 Chairman Opening Day Baseball Parade, Indianapolis Chamber of Commerce. I will enter floats In the Opening Day Parade on Tuesday, April 15. Name Firm Mail this blank or phone Mr. Kaser at Address Lincoln 142d Phone ENTER A FLOAT

Ipalco Club. Butler University Athletic department, Young Men of Indianapolis. Service Club, Rotary Club, Universal Club, Optimists Club, Traffic Club, American Legion, Elks Club, Lions Club. Butler Blue Key fraternity, L. Strauss & Cos., Wm. H. Block & Cos., L. S. Ayres & Cos, Banner Furniture Company, Betermann Brothers, florists, and Indianapolis Chamber of Commerce. TRUSTEES ARE QUIZZED School Questionnaire Is Sent From Office of Governor Leslie. First questionnaire prepared by the state committee on joint and consolidated schools was being sent to trustees of these schools today from the office of Governor Harry G. Leslie. The committee appointed by the Governor under a senate resolution to gather data for codification of the joint and consolidated school laws, will report to the 1931 legislative session. Charges Wife Is Extravagant Bu United Press _ . . RENO, Nev., April B.—Because his wife allegedly was dictatorial and extravagant. Converse M. Converse, grandson of Edwin Converse, founder of the United States Steel Corporation and Bankers’ Trust Company of New York, was divorced here today.

Women Forfeit Bonds Bu Times Special FT. WAYNE. Ind., April B.—Mrs. Sarah Williamson, 35. and Mrs. Jean Williamson, 33. forfeited bonds of SIOO each by failure to appear in city court here on a charge of false pretense. It is alleged they sold what they represented to be real Irish lace, when in fact it was a machine product. Police say the women confessed the fraud.

We offer 7% Preferred Common Stock of the AMERICAN LOAN COMPANY An unusual 7% tax exempt investment with the additional opportunity to participate in the earnings of a rapidly growing 32-year-old company through purchase of common stock. Full details on request UMPHREY & HARTZ 347 Bankers Trust Building Lincoln 8439

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STATE ACTIVE, LESLIEJSSERTS Favors Big Business Groups, Governor Says. Indiana is a good state for the Indiana Bell Telephone Company and other big business organizations, Governor Harry G. Leslie told members of the Indiana Bell Telephone Club at luncheon Monday at the Spink-Arms. “This state is not backward,’* Leslie asserted. “Our state government is not against organization in business. “The problems of your great organization are similar in a measure to that of the state governmental organization. I grant, however, that your organization is nearer perfection. The reason for that is because you are able to employ or train all specialists." The Governor discussed his favorite topic, "Pardons and Paroles.” He pointed out that some leniency is required to keep down the present over-crowded condition in the penal institutions.