Indianapolis Times, Volume 42, Number 137, Indianapolis, Marion County, 17 October 1930 — Page 9

OCT 17, IMP

COURT DECISION ENJOINS TAXING OF BANK STOCK $90,000,000 in Assessments Invalid If Temporary Ruling Stands. Without, ruling on the validity of the Indiana taxing system as it affects national banks, Superior •Judge William S. McMasters Thursday temporarily enjoined Marion county tax officials from taxing bank stocks of Lawrence B Davis, Indianapolis attorney, and plaintiff in a suit filed last, spring by the Indiana Bankers' Association. Davis’ suit., if successfully prosecuted, would wipe from the tax duplicates of the state approximately $90,000,000 in bank assessments. McMasters said the injunction issued Thursday does not involve a decision on the tax question as raised by the Bankers’ Association, but applies only to Davis’ case. The injunction restrains Clyde E.

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Robinson, county treasurer, and Harry Dunn, county auditor, from collecting illegal taxes on fifteen shares of stock held by Davis in the Indiana National bank, and prevents tax officials from' imposing a penalty for non-payment on fall taxes. The ruling provides no relief for other bankers in the association. McMasters said a complete hearing on the Bankers’ Association’s part in the suit is impossible before fall taxes are due, and made the ruling in Davis’ behalf by agreement of attorneys. he said McMasters held that other members of the bank association can not, obtain relief as given Davis, who brought the suit in “behalf of himself and all others .similarly situated.” Davis’ suit holds that owners of national bank stocks in Indiana are being discriminated against by taxing officials in violation of federal statutes regulating local taxation of national banks. Under Indiana tax laws all bank stocks are assessed at true cash value, and holders of these stocks ar* not permitted to deduct outstanding indebtedness from this assessment. Davis’ suit is based on that ground. A right angle electric drive that can be used as drill, saw or polisher is on the market.

Gives Address

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Lt H. Dennis

Education and its relation to democracy was discussed by L. H. Dennis of the Pennsylvania state department of public instruction, at a general session of the state teachers’ convention in the I. O. O. F. hall this morning.

THE INDIANAPOLIS TIMES

LA FOLLETTE IS IRKED BY LABEL OF MAGIC NAME Resents Suggestion It Won Him Nomination for Governor. BY RAY TUCKER ScripM-Howird Staff Writer MADISON, Wis., Oct. 27.—'“Phil” La Follette, the 33-year-old son of “Old Bob” and younger brother of Senator La Follette, resents suggestions that he won his recent smashing victory for the Republican gubernatorial nomination through the magic of the famous name he bears. This judgment, he hotly maintains, does discredit to the people of Wisconsin, who, after four years of control of the state government by the stalwart faction, led by Gbvemor Walter H. Kohler, a bathtub maker, again have placed the La Follette dynasty in full power. It does not, in his opinion, describe

the deep-rooted strength of the progressive movement in the face of unrelenting^enemies. \ War Stand Hurt Him Nor does it measure the test it underwent in a campaign that had as much personal and political bitterness as the 1922 contest in which his father felt the full force of opposition based on his World war attitude. “No.” He shook his head so vigorously that the shock of curly brown hair fell across his shining blue eyes “It wasn't the La Follette name. It was forty years of intensive political education. Our people take their politics with grim earnestness. They don’t want bunk and ballyhoo. They want no pay an-* they work for nothing in our campaigns. “They stand in the rain or snow to listen to a serious discussion of heavy issues, such as the power trust, chain banking, the use of money to buy office and the inequalities of a taxation system that weighs too heavily on land.” Victory Is Conceded “Phil.” whose victory is conceded,' talks with the intensity and gestures of his father whom he resembles more than his senator brother does. While young Bob Is a placid figure, thinking and speaking; slowly

and deliberately, “Phil’s" words leap out like ■ a flame He points his finger or pounds his fist for emphasis. He curls and uncurls his legs under him. He loses himself in his discussion and he carries his hearer with him by his charm and eloquence On the stump he has the ability, though not the emptiness, of a rabble-rouser. He frequently served as his father’s train platform speaker when the latter made his deathbed £>id for the presidency in 1924. TRAFFIC DEATH RATE IN CITY TAKES SPURT Fatality Toll Increases Ftom 19.7 to 26.8 Per Cent. Auto traffic death rate increased in Indianapolis from 19.7 to 26.6 per 100,000 population from Oct.♦, 1929, to Oct. 4. 1930, over the corresponding period for 1928-29, according to United States department of commerce figures released today. Rate for Indianapolis and environs, Greater Indianapolis, increased from 26.7 to 33.2 per 100,000 population. Last year 97 were killed in the city, compared with 71 the preceding year, and 121 in Greater Indianapolis. compared with 96 the year before During the last four weeks nine died In the city and 10 in Greater Indianapolis, compared with 12 and 13 for the preceding year.

Capital Truant

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A modern Huck Finn in real life is 13-year-old Earl White, above. Truant officers have found it impossible to keep him in school, and his parents face a possible jail sentence under the District of Columbia’s compulsory education law if he continues his refusal to attend his classes. Here you see him enjoying an afternoon of skating while his friends are busy at their studies.

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PAGE 9

STRONG GUARD AT DIAMOND'S HOSPITAL BED Fear New Attack May Be Made on Racketeer Who Is Gaining Strength. Bv United Press NEW YORK.’ Oct 17—Elaborate precautions to protect Jabk Diamond, racketeer, in hjs room at Polyclinic hospital were taken today as the gangster gained strength and appeared likely to ‘ beat the spot.’’ Heavy wire screens were placed on the windows of Diamond's room on the third floor, and additional patrolmen and detectives were stationed at points of vantage By their precautions police lent credence to the report, that a watchman at Madison Square Garden, across the street from the hospital, had been approached by two men Sunday night who offered him S2S to allow them to take a “photograph” of Diamond's window from a fire escape across the street The watchman refused because he didn’t like the looks of the “violin case” the men were carrying, it was said. PAUPERS EAT VENISON Five Deer Killed by Motorist* Are Given to Poor Farm. Bu United Press MIDDLETOWN, N. Y. Oct. 17. Venison has been a daily item on the menu of the Sullivan county poor farm for a week, and a plentiful supply still is on hand. Five deer were killed by motorists nearby and the meat was turned over to the institution.