Indianapolis Times, Volume 41, Number 293, Indianapolis, Marion County, 18 April 1930 — Page 11

APRIL 18, 1930

ELFCTRIC FIRM PICTURED HUGE FEE COLLECTOR Industrial Giant Drained Subsidiary Companies, Probers Told. B'l Z'-rippu-Huxcartl Ait CHpapcr Alliance WASHINGTON, April 18.—Pacts which the tiectric Bond and Share Company has tried Xoi two years to keep from the public have been ciiocmsed by the lederal trade comm.ssion in the past two aays. they reveal tins greatest of the utility holding companies as an industrial giant reaching into twen-ty-six duferent states and twelve foreign countries. I hey show r that it controls sixtythree different companies, fortyt j ci ti.e.n gas ana eiectric compainea, me Ovocis water, ,ce, street railway and bus companies, while it has investments, also, m banks and insurance companies and other businesses. They disclose 2,101,000 consumers buying electricity and gas from bond and share companies, and paying therefore $228,000,000 in a * ingle year. Makes Big Profit Electric Bond and Share has been making at least 105 per cent profit on the fees it charges its subsidiary companies for construction, engineering and other services, according to economists of federal trade commission, who have been examining what records ol the company they could secure for months past. Judson D. Dickerman, one of the commission's experts, has testified that in 1927 the company charged $9,373,000 for such services. Its entire running expense was $6,613,000, of w r hich not more than $4,563,000 could have been servicing expenses. This left a minimum profit of $4,809,000, which Dickerman said he believed was understated. Collect Expenses, Also Construction fees and construction supervising fees "very largely are clear profits,” Dickerman found, since the companies collect any expenses they incur in addition to their fees. The Bond and Share’s security investments amount to $626,000,000, the record shows. To complete the picture, W. B.

Goldstein Brothers WASHINGTON, DELAWARE and COURT STREETS—Phone Lincoln 1301 21 st Anniversary Sale 1,200 Men's White * NON-SHRINKABLE * Broadcloth Shirts - mOUS “ Metr °” Bra — I NOtFtHE Never Sold Before at CONSTRUCTION OF This Very Low Price THESE SHI RTS! When Such Shirts Are Only sl, NON SHQINKABIf Why Not Lay in a Season’s Supply ** cou-.e /AV H Wa\ rlor co-opera- 1 I’l ni an nfa cUircr pf | ,t rncted itnar- y BisllEß3|ij|^Sfe> Ny / i * ant c c and non- IBSKsSK*‘*Vf / S'JK EttEiNK PCOOB lirinkal>le alilrf OtNtCCOS CUT !’?i| SLve at ao low a jSßjgi^HgMgjcc ACM *CIU wtoe CMTIC Tu C, i’m. Pno- ' Jyj| All tm, WAV- fart lira wm TAH.OA POCKET jgf I SEVEN watched to tnSHOTS li •‘ m ‘~ re< ” T '" < > n,h " o( ™r- ■. - | | J-N<m FiiMAii Collar Attached or ' p ** Neckband Styles loot VAAtrMO bsiMcxes TOS ro SOTTOM | a.ist jwr.ni*4 L oveAu J (Sizes 13y2 to 17) Sleeve Lengths: 33 (Short) --34 (Medium) —35 (Long)—36 (Extra Long) -- -■—-■ ■ ■ -- 1 —LJiir. ■■"■■■:??,:■■%■■;"-: r, ■■■ ■ 1 -i .jjj ■ ■■, ;?■'■■ , 1 -■ ,■,■■■?■ ■■■■■sr.r, 1 Men’s 1,800 Prs. Men’s Men’s nI-m 50c Fancy Hose *'* Robes OQ C E™ B Pa ' a ; aS $1 Bsc Jml Good quality silk and rayon w°?£v§ _ . ..rv, u f mixtures; also rayon and lisle SJ7ni" Genuine Fruit of j .*o made two-piece pathe Loom” muslin mixtures, m new clocked, jamas in fast colnight robes: sizes striped and checked or—stripes, plaids, 16 to 20. Limited patterns. Sizes 10 to f / novelty patterns, quantity at this W/a. W and plain colors, low price. “ X ** Sizes A to D. (GOLDSTEIN'S—MEN’S SHOP—STREET FLOOR)

Jailed in Riot

A Ml \ M

Clay McCarroll, above, of Knoxville, Tenn., was jailed on charges of “inciting riot and unbecoming conduct” as the result of his activities as leader of a student strike at Lincoln Memorial university at Harrogate, Tenn. The students walked out when college authorities dismissed five faculty members.

Home of the commission disclosed the manner in which a small group of men have controlled for years the affairs of the organization. Nine of the sixteen directors of Electric Bond and Share are officers of subsidiary companies. Fourteen of them are directors of subsidiaries. Sidney Z. Mitchell, former president and chairman of the board, was, in 1928, chairman of the board, also, of three great subsidiary holding companies, American Power and Light, National Power and Light and Electric Power and Light. He is a director in nineteen other companies. built”like battleship Aged Auto Wins In Collision With Train in Far West. Bv United Prcta REDDING, Cal., April 18.—A railroad train came out second best in a joust with a small automobile of the vintage of 1910 here recently. Three blocks from the collision the train stopped. Passersbv pulled the car off the cowcatcher. The driver gave it a crank, started the engine, and was away before any one could get his license number.

‘WHARF RATS' TO 10SE HOMES ON RIVER FRONT New Orleans Shacks to Be Destroyed Because of Fire Hazard. Bv United Pre* NEW ORLEANS. April 18.— "Wharf rats” and beachcombers here will have to look elsewhere than the understructures of New Orleans wharves for rendezvous or shelter. Because of three disastrous dock fires in the past month, harbor police have been ordered to destroy all shacks and lean-tos wrhere live the furtive men who make their living from wharf refuse and river fishing. Fight Over ‘Treasure’ Likened to the denizens of Paris sewers, these human scavengers easily are recognized by those familiar with the New Orleans river front. For the most part harmless, they nevertheless cause a fire hazard through smoking at night, and during the winter through building small fires for warmth. In the daytime they ply in their skiffs along the river’s edge, here snatching in a part of a fruit boat consignment lost in unloading, there fighting over a crated box bobbing with the current. Jackson Square, the riverfront paradise, knows them. On balmy days they come to sun themselves or to dry out their clothing wet in a recent upset. Police are Tolerant Then with the night they vanish. Once the packed wharves were their prey. Now, few attempts to steal from the giant structures that give them, shelter, preferring the less risky livelihood gleaned from the old man river. Between them and the dock police a live-and-let-live attitude had developed previous to the three fires. Even after the order had been given to destroy their "homes,” the dock police hesitated. "Those poor devils are harmless,” said one member of the police patrol. “I’m glad it’s spring, anyhow', for they’d have a hard time in the winter., without those hangouts.” _____

THE INDIANAPOLIS TIMES

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