Indianapolis Times, Volume 42, Number 257, Indianapolis, Marion County, 6 March 1931 — Page 28

PAGE 28

VAST PROFITS GARNERED BY LOANSHARKS Billion Is ‘Farmed Out’ to Small Wage Earners of Nation, By Timet Special NEW YORK, March 6.—Loan sharks throughout the United States are fattening their bank accounts with the profits on more ’hart $1,000,000,000, which they have farmed out in small sums to wage earners and salaried employes, according to figures made public by William G. Shepuerd in Collier’s Weekly. Ninety per cent of the adult population of the United States, Shepherd finds, have been in a position where they were unable to obtain credit on a business basis. Almost 3 per cent of the wages and salaries that will be earned this year, he adds, will be owing, at any one time, to the fellows who sit in loan agency offices and wait for their customers to hand their usual payments through the little wicket window. Needs General Cleanup If there ever was a business that needed cleaning up,” comments Shepherd, "it is the money-lending business. It still is very rough and very cruel in many parts of the country. The worst part of it is its frightfulness—no matter how much interest the money lender charges or how unjust he is, his victim is so frightened by him that he is forced to submit to almost any demand the lender makes. "Not one borrower in a thousand understands the terms under which the man behind the wicket lends him money. Ono railroad man in Chicago paid SI,OBO interest on a loan of S3O; a man in government service in Washington borrowed $25 from a money lender thirteen years ago, and has paid $2.50 a month ever since. A man in Georgia borrowed $4 and paid $1.60 monthly in interest for twenty-five months.” The only solution for the loan shark evil, according to Shepherd, is through concerted action by employers, providing a regularized substitute for the loan shark. Employer Can Curb Sharks Under present conditions, Shepherd points out, the employer really is the money lender’s best friend, because the threat “I’ll tell your boss” is the weapon that enables loan sharps to collect unjust debts and usurious interest. Employerj publicly should refuse to help the money lenders by firing employes whose salary or wages seem to be owed to loan sharks, Shepherd urges. They unitedly should announce a policy of ignoring the claims of all the so-called salary buyers.” "The first thing for employers and all the rest of us vo understand,” Shepherd 6ays, "is that we have come to a time in our country when borrowing for personal reasons is not disgraceful or indecent but is a necessity to which perhaps some 20.000,000 persons resort annually. “Lending money to homes, has ome to stay. The home got credit from the installment or space pay; ment system. We’ve found out that the average American home has credit and that it has as good right to use it as has any business man.’’

lOWA RAISES ROADS Mud is Forced Through Holes Cut in Settling Pavements. By Time* Special NEW YORK, March 6.—When concrete roads in lowa settle, engineers of the state highway commission raise them by pumping mud and cement under the sunken parts, rays Popular Science Monthly. Holes are cut into the surfaces from twenty-four to thirty inches from *he edges, from four to six feet apart. A similar row of holes is r ut in the center of the roadway. A gasoline-drive “mud pump’’ forces the mixture through a hose into the holes. Mud alone would be sufficient to hold the road up, the engineers say, but cement is added to it to hasten the drying and reduce shrinkage.

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r Ladies 9 Sparkling Genuine W DIAMOND RING MM, I | F-R-E-Elßi Ladies’ll 5-Jewel __ p I Biflova Wrist Watch ®*/| •** i This charmingly engraved 15-jewel M# . • Balova” known from coast to coast for M fafiy jrcuracy and dependability and a genuine £■ diamond ring for only BHi 0 PAY ONLY 75c DOWN! I^^^E^pert^^^atc^and^Jewelr^Repairinr— H Nationally Known Watches at Standard Cash Prices. Terms to Suit Anyone’s Income. %*; . JEWELMtS Sp. CE 1900 0f ■HI .rmarly at IS-4S North Illinois aid 113 W. Washington St mSaSk Wk NOW AT 10S W. WASHINGTON ST* M -CLAVPOOL HOllt B^LPCffr,

Hibernians Will Give St. Patrick's Breakfast

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James Hall

Musical Program Will Be Broadcast Over WKBF. Arrangements for the St. Patrick’s communion breakfast and entertainment of the Ancient Order of Hibernians, to be held March 15, were being completed today. The breakfast will be held at 9 a. m. at the Claypool with James Hall, appearing at the Indiana there, as master of ceremonies. Among speakers will be the Rev. Pierce Dickson of Shelby county, Paul V. McNutt of Bloomington and T. P. Sexton, county treasurerelect. Ed Resener, conductor of the Indiana theater orchestra, Will play several violin selections and Leonid Leonardi will present piano numbers. This program will be broadcast over station WKBF at 10 a. mTickets for the breakfast are on sale at Clark & Cade pharmacy, at Alieter’s - Catholic book store, and may be obtained from members of the committee.

ARMY, NAVY MUST USE AMERICAN PRODUCTS Congress Makes New Statute of Departmental Rule. By Scripps-H award Newspaper Alliance WASHINGTON, March 6.—Congress has ordered the army and navy to give preference to American products, when purchasing supplies, and this will give American manufacturers and producers the advantage in millions of dollars worth of business. It has been the rule in the past for these two departments to jive preference to American produits, and now this rule has been incorporated in the law. In addition, congress has ordered the navy department to buy American fuel oil for naval vessels, when this is compatible with good business. RELICS MAY BE LOST Mementoes of Napoleon’s Life at St. Helena Being Ruined by Weather. By United Press PARIS, March 6.—The few existing relics of Napoleon Bonaparte’s life spent while in exile on the island of St. Helena, are in imminent danger of destruction by exposure because of lack of funds for proper repairs, according to Baron Gourgaud, who returned recently from the island. Baron Gourgaud is a great grandson of Gaspard Gourgaud, one of the generals in the emperor’s army.

Restaurant Supplies Sw us first beforo you buy your Dishes Utensils Boston China Store 217 EAST WASHINGTON

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Ed Resener

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Leonid Leonardi

Gone, but Not Forgotten

Automobiles reported to police as stolen beions: to: Harry Shouse. 41 East Raymond street, De Soto roadster, 51-754. from Capitol avenue and Washington street. George Richey. 3118 North Ritter avenue. Chevrolet coupe, from Meridian and Vermont streets. Ross W. Richards. 511 North Dearborn street. Chevrolet coupe, from Vermont and Pennsylvania stree;s. Ralph A. Johnson. 1121 North Game street. Ford sedan. 56-955. from Kentucky avenue and West street.

BACK HOME AGAIN

Stolen automobiles recovered by police belong to: Frank Bly. Converse. Whippet coach, found in rear of 3472 North Illinois street. W. P. Huff. 3504 Evergreen avenue, Jewett coach, found in front of 812 Pierson street. __ Frank p. waiters. 1618 Fifth avenue, Terre Haute. Chevrolet sedan, found at 900 North California street.

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EXPERT TRUSS FITTING AT 129 W. WASH. ST. STORE Abdominal Supports and Shoulder Braces HAAG’S CUT-PRICE DRUGS

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Men’s and Women’s CLOTHING ON EASY CREDIT ASKIN & MARINE CO. 127 W. Washington St. — - *■--

THE INDIANAPOLIS TIMES

LEG6E SUITS, HOOVER WILL REVEALTODAY James E. Stone, Louisville, to Be New Chief of Farm Board, By United Press WASHINGTON, March 6.—Resignation of Alexander Legge -as chairman of the federal farm board will be announced this afternoon by the White House. Vice-Chairman James E. Stone of Louisville, tobaccb member of the board, is to be elevated to the chairmanship, according to authoritative information. Samuel R. McKelvie, wheat member, and T. C. Teague, fruit and nut member, are expected to follow Legge into retirement about June 1. McKelvie’s term will have expired then, while Teague is anxious to

Saturday and Monday [Octagon Glasses ■8.50 Kryptok Bifocals for i_ Far and Near Vision Pay Only $1 a Week! Or. Jos. S. Fancher Will Call at Residence 31 west Ohio street Without Extra Charge Across from Ohio Theatre

RUSTIC WREN HOUSES ? inches long These houses are made from natural logs. Choice of either style shown, if 8 inches high ifth Floor Main Store Maple Road Store Charles Mayer and Company Established 1840

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CHAINED TO A DESK

Eight hours a day, year in and year out Man was riot intended by nature to spend a third of his life in a chair —and constipation is the usual *esult. But French Lick Salts can overcome this handicap —if you’ll just give it the opportunity. French Lick Salts is s pleasanttasting, effervescent saline laxative from famous French Lick Springs, Indiana, America’s Spa and home of the world-famed

get back to the California Walnut Growers Exchange, and California Fruit Growers Assocition, of both of which he is president. Legge has served as chairman of the farm board since the board’s creation July 1, 1929. He was persuaded by President Hoover to relinquish the presidency of the International Harvester Company to take the post. Badgered by congress since the board’s inception, Legge has been anxious to resign for the past year, but always was persuaded by Mr. Hoover to remain a little longer. His duties here completed, Legge will return to take up the reins with the International Harvester Company and to organize the "agricultural foundation,” a dream of his to cure the ills of agriculture. Vatican City to Have Market By Unite,d Press VATICAN CITY, March 6.—The first market ip the Vatican City will be opened shortly by the pope. It is a two-story building and is destined for the sale of foodstuffs. No money will change hands, however, the citizens of the papal state rebeiving their supplies solely through identification cards.

saline mineral springs. It produces ■p rompt elimination, gently yet thoroughly, without causing nausea or griping. It purifies the blood, corrects acidity, and sweeps away toxic wastes quickly, yet so gently its action may be likened to “the caress of a mother’s touch.” Prescribed by physicians for adults and children suffering from constipation and ills caused by it. At all drug stores, a generous quantity—

Factory Outlet Sale SHOE fp Greatest M r iL" dcr * el,ing ypmf 1 %?. Shoe Store f- 438 Pairs of Women's Quality Shoe A Special Purchase for this Even mm? SMASHED Vlrf LIMIT 2 PAIRS TO *IOO -f _ . .. each customer Boys and Youths’ BOYS’ GYM Men DRESS AND SCHOOL SHOES AA ( oxfords SHOK _ t 39 H vm Women’# Health wtvrfn, F S°ol7a. y HIGH SCHOOL AND H S f4 COLLEGE GIRL , Jk OXFORDS Ai sl-69 Men's jHne $1 m w <* 1= UhL Sizes Re *">" O 4 aa Values sl-98 *r Iwv Another Seller I SSI $4 l | i I t ■( \I ( I 35c Value 19c Formerly Lester’s

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