Indianapolis Times, Volume 43, Number 96, Indianapolis, Marion County, 31 August 1931 — Page 3

AUG. 31, 1031

PLAN HUGE U. S. BOND ISSUES TO AVERT TAX HIKE Refinancing Project Drawn by Mellon to Be Paid For by Posterity. BY THOMAS L. STOKES United Pre* Staff Correspondent WASHINGTON, Aug. 31.—Secretary of Treasury Mellon revealed today how he plans to avoid a tax Increase at the coming session of congress by a series of bond Issues somewhat like the huge liberty loan issues of the World war period. He announced a blllion-dollar refunding program, the largest single operation of this character in recent years. It consists of a twenty-four-ycar $800,000,000 bond issue at the record low interest rate of 3 per cent, and a $300,000,000 issue of treasury certificates to run for a year and to bear interest at 1% per cent—a grand total of $1,100,000,000. This bond issue is to be followed by one in December and another in March to meet notes coming due at that time and representing loans the government has made to pay Its way during the depression. Due on Sept. 15 A total of $634,000,000 of treasury certificates comes due on Sept. 15. The bond issue and certificates are partly to refund this obligation and postpone payment, as well as to meet about $30,000,000 in interest payments. Old certificates maturing may be exchanged either for the bonds or the certificates. The issues are dated Sept. 15, the bond issue to mature in 1955. It is callable in 1951. The new bond issue is the third of the year, one being floated in March for a total of $594,000,000 and a second in June for $834,000,000. On Dec. 15, another batch of certificates mature, totaling $990,000,000, with others aggregating $624,000,000, coming due March 15. The treasury has had to borrow on a large scale in the last few months to meet expenses. The income tax especially has fallen off, with no immediate prospect of any larger returns from this principal source of revenue. Operating Cost Up The cost of operating the government has increased gradually. The depression has called for unusual expenditures to help aid the unemployment situation. A tax increase, it is considered would help solve some of the fiscal problems, but the administration is set against one at the next session, and Democrats apparently are no more anxious than Republicans to vote larger levies on the eve of a national election. The treasury, therefore, is gathering up bills for part of the depression costs, tying them up in bond issues, and putting them on the shelf to be paid by the next generaton. PRISONERS ESCAPE; FLEE IN STOLEN CAR Plot Is Hatched by Trio in Reformatory Kitchen. Stealing an auto belonging to the Indiana state reformatory, three prisoners Sunday fled from the institution. Their descriptions were broadcast throughout the state by prison heads. The escaped men are: Albert Clark, 24; Robert Houser, 19, and Ernest Bell, Negro, 21. The escape plot was hatched in the kitchen of the institution. Clark was a cook, Houser a dishwasher and Bell drove a farm truck. Bell had served all but ten months of a two to twenty-one-year sentence and Houser had been paroled this month and was awaiting for prison officials to obtain him a job. Clark was to have been paroled fn November. BUYS $30,000 IN WINE Future Contract Ohio Hotel Manager’s Belief Prohibition is Doomed. Ity United Press CINCINNATI, Aug. 31.-A future contract on $30,000 worth of French wine is proof of the belief of Joseph Heichl, hotel manager here, that the eighteenth amendment Is doomed. "Entirely a business proposition,” Reichl said on his return from Europe. "There are 400 cases of it. It will be brought to the United States as soon as the eighteenth amendment is modified. I think I have the long end of the odds.” CITY BOYS WIN HONORS Culver Awards Laurels at Final Summer School Exercises. At final exercises of the Culver summer schools this week, Indianapolis youth specially honored were Earl A. Blakey, 3156 North New Jersey street; John C. Ertel Jr., 4565 Guilford avenue; William H. McMurtrie, 3551 Washington boulevard; Walker W. Winslow, 3834 North Delaware street; Henry Holt Jr., 412 East Forty-eighth street, and Henry S. Fauvre, 41 West Thirty-second street. Seventeen of the Culver graduates are Hoosiers.

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Yip ki yi! Those cowboys and cowgirls of the wild and woolly west would better look to their laurels. For here are Senator Reed Smoot and his wife all togged out in the latest approved ranch styles to enjoy their vacation in the wide open spaces of Wyoming. The senator from Utah, dean of the upper body of congress, declared an unlimited “moratorhup’’ on politics for the duration of his visit.

<1 / / Smoking compartment, Washington-New York plane. Hostess offera 1 *1 A ”■ •'• i n g Chesterfields. Photos by courtesy Eastern Air Transport, Inc. Aboard Airliner Eastern Air Transport -l — -' ( i-*xn I £<j ci^j ——n^ 1 ""’ ' '^CtCI Irn almost too excited to write, • -nrJT ' and there’s so much to see, both inside the plane and out. We’ve left . [ /;.' $! ,_ . compartment —they serve them on every ship. (mg': " Among the eishteen passengers there’s a senator and a foreign diplo- ‘ §l||^ l mat; and I’m surprised at the number of women. The trip is two hunr-- \ m^CS mCtCr in 1C Ca^'n rcac^s tvvo m^cs a tHirilc /7 For me, the Chesterfields were the nicest touch of all. 1 was just dying • 0r a Sm °^ C/ vv^cn t^lc ostcss Passed them (and my favorite ciga= Kllc at ’^ at ) 'vcrycnc ilic teaned m tkfeleJ m I was. AnJ my —ihcy Chesterfields are,served in the smoking A mild cigarette—delightfully mild and compartments of all these planes the smooth—with a tobacco fragrance all its largest and most luxurious in the East. own. With the fast growth of air travel, Ches- WTiether you're air-minded or not, you’ll terfield makes many new friends each day, always find Chesterfield on the air-line here as in city streets and country homes to taste the quickest way to get there. —wherever good taste counts. They Satisfy! % 1931. Liggett a Myiu Tobacco Cos.

THE INDIANAPOLIS TIMES

BRITISH LABOR FIGHTS CUT IN workers; DOLE Boost Instead of Slash to Be Demanded; Class War Revived. Tty United Press LONDON, Aug. 31. The Labor party’s war on Britain’s national government assumed concrete form today with publication of the Trades Union Congress program diametrically opposed to the government’s economy measures. The. T. U. C. will hold its sixtythird annual congress at Bristol, Sept. 7, the day before the “sacrifice” government of Prime Minister J. Ramsay MacDonald goes before an extraordinary session of parliament. While MacDonald and his threeparty administration will ask for a 10 per cent reduction of the “Dole,” the Trades Union Congress will register its “utmost indignation” regarding the proposal. It will ask an increase in workers’ unemployment contributions. Arthur Henderson, who took MacDonald’s place as the Labor leader, will be a fraternal delegate from the Labor party. The congress will stress the principle of work or adequate maintenance; will demand adequate pensions for workers aged 60; will demand a 40-hour week and payment on holidays. The congress will miantain that wages are not the interest of capital. It will insist tnat the trades unionists share the administration of publicly controlled industry. The iron and steel trades confederation will introduce a resolution somewhat similar to the Soviet five-year plan of industrialization, demanding that the government nationalize the iron and steel industries.

Woodsmen Hit Trail for N. Y. to ‘Get’ Gangsters Py United Press FLAGSTAFF, Me., Aug. 31.—'Two veteran guides, who ‘‘generally hit what we aim at,” are hitting the trail to New York to help the police clean up some of these baby-killing gangsters. Temporarily idle until the hunting season opens, they decided it was a duty imposed by good citizenship to give the police the benefit of their marksmanship in wiping out racketeers. So, with rifles under their arms and packs slung over their shoulders, they will board a train for the city here today to stalk criminals in the city streets. They are Allie W. Deming, 42, of this town and Fred York, 43, of Stratton. They already have written Police Commissioner Edward P. Mulrooney that they are coming, but said: “We don’t want to tell about that until he gets it.” News of recent street battles in- New York, in which children were killed and passersby were woilnded by stray bullets, have reached here. Both guides are pretty indignant about it. The trip was Deming’s idea. “From what I can gather,” he said, “the New York police are afraid to shoot. They are so many people in the streets they’re afraid they might hit the wrong man. “But that won’t bother us. York and I have been shooting at running deer and other game all our lives. What we aim at we generally hit.”

MAYR’S RALLY AT BOONVILLE ‘FLOPS’

Sy Times Special BOONVILLE, Ind., Aug. 31. What was ballyhooed as a “mammoth Eighth district Democratic rally” In support of the pretensions to the governorship of Frank Mayr j Jr., secretary of state, proved to be Ia flop Saturday. The attendance by actual count was 137. Some remained only a short time. The 137 was divided equally between Warwick, Spencer and Vanderburgh counties. Regular Democratic county and district leaders and workers, who are regarded as favoring Paul V. McNutt’s candidacy for Governor, ignored the meeting and are jubilant over what they term the “grand flop” of the insurgent wing. Headliners on the program were

Mayr, James Carpenter, head of the auto license department, and Arthur Smallwood, license branch auditor. The meeting was sponsored by Frank Ashby of Warwick county, an appointee of the secretary of state, j who was here for ten days organizing the 1 district and attempting to work up favorable sentiment for the Mayr organization. Mayr came direct to the district for the meeting, remaining at the picnic place, however, but a short time and after eating lunch and making a few remarks excused hmiself by saying he had an appointment in Indianapolis.

DEATH CLAIMS N. J. M'GUIRE, CITY ATTORNEY Rites for Figure in Local Affairs’ for 30 Years to Be Tuesday. Prominent members of the legal profession will serve as pallbearers at the funeral for Newton J. McGuire, 64, attorney, at 2 p. m. Tuesday at the Flanner & Buchanan mortuary, 25 West Fall Creek boulevard. Burial will be in Crown Hill cemetery. Mr. McGuire died Sunday morning at his home, 3356 Central avenue. He was identified with the political life of the city for more than three decades. Besides serving as attorney for the park board during two city administrations, Mr. McGuire practiced law from his offices in the Fidelity Trust building for thirtyfive years. He served as camp commander and Indiana department commander of the Sons of Union Veterans of the Civil War. He held memberships in the Indianapolis Bar AssoHAY FEVER AND ASTHMA TREATMENT ON FREE TRIAL ST. MARY’S, Kan.,—D. J. Lane,: a druggist at 1413 Lane Building, St. j Mary’s, Kan., manufactures a treat- ! ment for Asthma and Hay Fever in which he has so much confidence that he sends a $1.25 bottle by mail to anyone who will write him for it. His offer is that he is to be paid for this bottle after you are completely satisfied and the one taking the treatment to be the judge. Send your name and address today, stating which trouble you have.—Advertisement.

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elation, the Indiana State Bar Association, the Maccabees and the College Avenue Baptist church, and belonged to the Masonic order at Rising Sun. Born in Ohio county, Indiana, Mr. McGuire lived at Rising Sun and was graduated from the Michigan university school of law. The Rev. Fran* C. Huston, Oaklandon Christian church pastor, will have charge of the funeral services. Survivors are the widow. Mrs. Lida McGuire; a stepson, F. L. Gerard, Indianapolis, and one grandchild.

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