Indianapolis Times, Volume 42, Number 17, Indianapolis, Marion County, 30 May 1930 — Page 8

PAGE 8

BOND ISSUE FOR CITY DEBTS IS UNDER WATCH C. of C. Favors Financing Deficit by Temporary Loan Method. Another bond issue of SBO,OOO to clean up a deficit in the appropriation for current municipal operation is contemplated by William L. Elder, city controller, despite the fact the city general's bonding margin is only $2,800,000. The present bonded debt of the city general is $10,911,OCO. of which $500,000 will be retired during 1930. After several conferences Sullivan administration leaders have decided upon the bond issue method of paying a $37,000 deficit in lighting bills, $40,000 in health board bills for 1929 and a 1928 lighting bill of $4,000 against the safety board. The health board deficit resulted largely from the cerebrospinal meningitis epidemic and the light fund shortage from failure of city council to appropriate the necessary amount in 1928. Account Presented The safety board lighting account with the Indianapolis Power and Light Company was presented this week, the light company explaining that through an “oversight” the $4,000 statement was not included in an SBOO,OOO judgment which was paid by bond issue in 1929. William H. Book, Chamber of Commerce civic director, advised city officials against the issuance of additional bonds for such purposes in view of the low bonding margin, citing the fact that a reserve should be maintained for major projects. Projects Impossible Funds for additional flood prevention or track elevation projects, new fire stations, bridges and completion of the hospital building program would have to come from a bond issue, making it impossible for the Sullivan administration to undertake any major projects if the bonding margin is cut by frequent issues of small amounts. “We have said to the mayor and city controller that we w r ould much prefer providing for the deficit by a temporary loan, to be retired from revenue in 1931 or at most in 1931 and 1932, to the plan of issuing bonds to be retired over a longer period,” Book said. “Both have recognized the strength of our arguments but still believe the bond issue method should be used in order to avoid an increase in the tax rate of 1931, if possible. “We still believe the plan proposed by us to be preferable even though it meant a slight increase in 1931 tax rate. To Keep Levy Down Elder is set on making every effort to keep the 1931 tax rate within the present levy of sl.lO. “We felt that we could not bear the burden of bills from another administration in our tax rate by issuing additional certificates of indebtedness or making a temporary loan to be retired from the 1931 appropriation,” Mayor Sullivan said. About $720,000 of certificates of indebtedness for street improvements will have to be retired from funds derived from the levy next year. Bonds totaling $790,000 for retirement of old certificates of indebtedness, repair of city jail and resurfacing of streets, already have been sold this year. 5,000 DESCENDENTS TO HONOR MORMON Brigham Young's Birth Anniversary to Be Observed Saturday. Bu United Press SALT LAKE CITY, Utah.. May 30.—Five thousand 1 descendents of Brigham Young, most widely known Mormon leader, will assemble here Saturday for their annual celebration of his birth anniversary. Brigham Young led a band of Mormon pioneers across the plains and settled Salt Lake City in 1847. Nearly five thousand direct descendants of the church leader now reside in this vicinity. PENNSY LOSS IS SHOWN * Properties in Indiana Decreased 5349,640 in 1929. Indiana properties of the Pennsylvania railroad system decreased in value $349,640 during the last year. Assessment valuations of the properties were published today by the state tax board as $144,296,421 for 1929 and $143,946,781 for 1930.

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Lethal Car Bu Times Bpeeinl BETHLEHEM. Pa., May 30. —Alfred Frey, 48, father of ten children, committed suicide in his automobile at Flicksville, near here, by attaching a severed auto inner tube to the exhaust pipe and running the other end into the tonneau.

CRIME CURB IS URGED Education and Religion Is Remedy, Says Mayor Sullivan. Curbing of crime through education and religion was urged Thursday night by Mayor Reginald H. Sullivan at a fellowship dinner at Northwood Christian church. “If every citizen was a church member the 550 members of the police department could be cut materially,” Sullivan said. Chinese City Is Captured Bu United Press SHANGHAI, May 30.—Government forces captured Hsuchang, in Honan province, Thursday after a three-day bombardment, the Kuo Min News Agency reported.

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CITY’S FUTURE LIES IN AVIATION, ACE ASSERTS Rickenbacker Is Speaker Before Real Estate Board. That the future of Indianapolis development lies in the field of aviation. is the assertion of Captain Eddie Rickenbacker, Detroit, Michhead of the Indianapolis Motor Speedway and World war aviation ace. Speaking before the Indianapolis

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THE INDIANAPOLIS TIMES

Real Estate Board Thursday he said: “This city has an opportunity to become one of the nation’s greatest aviation centers. “Location of industries here that are allied with aviation would bring about this development,” he pointed out. Rickenbacker also disclosed that plans are under way for expansion of the Indianapolis Motor Speedway to accommodate a crowd of 200,000 persons at the Memorial day race within three years.

U. S. ALIEN POLICIES RESENTED IN MEXICO Students Cancel Athletic Contest With American School. Bu United Press MEXICO CITY, May 30.—Growing resentment toward the Harris bill affecting Mexican immigration into the United States resulted today in bitter attacks from various Poor Teeth—Poor Health Can Ton Afford so Neglect Tooraf Good Work—Moderate Price* The Peoples Dentists 36 West Washington Street HOCRS—B a. m. to 6 p. m. S Sundays—9 a. m. to 12 m. 3-ROOM OUTFIT Living room, bedroom and kitchen complete. Recon. {f t Q ditloned .^ll9 EAST TERMSI Lewis Furniture Cos. United Trade-In Store 844 8. Meridian St. Phone Dr. 2227 CLOTHING ON CREDIT ASKIN 6,MARINE CO m? w.*vSHtwetioN tt EXPERT TRUSS FITTING AT 129 W. WASH. ST. STORE Abdominal Supports and Shoulder Braces HAAG’S CUT-PRICE DRUGS ALL NEW MODELS ATWATER KENT RADIO $lO Down—s 2 Week Call Cs for Demonstration Public Service Tire Cos. 118 E. New York St. Lincoln 5118

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sources against the American school in Mexico City. An anticipated Mexican students demonstration at the school Thursday night failed to occur, however. It was revealed the trouble was first hinted at when Mexican student athletes cancelled plans to meet the American school students in a track and field meet scheduled Saturday. They gave as their reason the proposed immigration legislation in Washington.

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ARSON TRIAL TO BE RESUMED NEXT WEEK Alleged Accomplice to Testify in Home Burning Case. Criminal court jury trial of Reese A. Maxwell, former member of the county grand jury, accused or arson, will be resumed Monday before Special Judge Joseph M. Milner, with Roy Brown, alleged accomplice

.MAY 30, 1930

of Maxwell, taking the witness stand. Brown Is understood to have turned state's evidence at a last moment with Mrs. Frances Lelota Miller, admitted third member of the trio. The oldest railway in the world is said to be located at Swansea, England, opened in 1807, For seventyfive yews horse-drawn trains piled its five-mile track.