Indianapolis Times, Volume 43, Number 141, Indianapolis, Marion County, 22 October 1931 — Page 17

OCT. 2?, 1031

ITALY RAPIDLY SQUARING TRADE WITH AMERICA Mussolini Delighted With Latest Figures Showing U. S. Slump. BY STEWART BROWN United Pres* Staff Cnrresnondent ROME, Oct. 22.—After years of huge deficits, Italy is on the point of “squaring” her trade balance with the United States. Diminishing purchases of American wheat and cotton are responsible for the swift change in Italo-Amcrican trade relations, a situation extremely pleasing to Premier Benito Mussolini. Comparison of America’s exports to Italy and Italy’s exports to the United States for the first six months of the current year shows that Americans succeeded irr selling Italians only about $14,500,000 more goods than Italians sold Americans. For the first semester of 1929, Italy’s unfavorable balance with the United States was about $63,008,000, while last year the figure was approximately $41,000,000. Thus, two years ago Italy’s average balance with the United States was

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CHALLENGED TO DEBATE Benjamin Harrison Law School May Meet Indiana Orators Soon. Debating team of Benjamin Harrison law school today challenged the Indiana law school debating team to a debate, date for which will be fixed when the challenge is accepted. Prospective members of the Benjamin Harrison team are Joseph Wallace. William R. Fogarty, M. D. Cummins, Michael Smith, John Lyons, Ralph P. Wade, Harry Dickinson, Emest McLaughlin. Harold Thompson and Miss Hildreth J. Workman. The team invites challenges from state colleges. These should be sent to Edgar I. Klain, 1644 Ashland avenue, it was announced. nearly four times greater than it is today. Wheat, one of America’s chief exports to Italy, was exempted from the recent general tariff increase, but earlier the already high rates ; on imported wheat were increased nearly 30 per cent, making it practically impossible to further elevate them. Automobiles, another important item in America’s exports to Italy, were taxed severely more than a year ago, cutting American sales down to a negligible figure, j Cotton comes under the new decree, therefore, America’s already reduced sales to Italy will be curtailed further. Oil and gasoline are subjected to higher sales taxes which still will limit American sales further.

GIANT SHIPPING MERGER WAITS LAST APPROVAL Union of Two Fleets Is Revealed in West by Captain Dollar. By United Pre* SAN FRANCISCO, Oct. 22. —A giant shipping combine in which the United States and Roosevelt lines will be pooled by two of the nation’s largest marine organizations was revealed today in San Francisco. The union of the two fleets, agreed upon at a conference>in San Francisco last u r eek, was announced in detail by R. Stanley Dollar, president of the Dollar lines, after further conferences were held in New York. The program of five major agreements awaits only the final approval of President. P. A. A. Franklin of International Mercantile Marine, the other group involved in the combine, before submission to the

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THE INDIANAPOLIS TIMES

United States shipping board, Dollar said. The agreement covered these points: 1. Acquisition of a half interest in the Roosevelt Lines, now allied with I. M. M., by the Dollar group. 2. Taking over the United States Lines by the recently organized United States Lines Company, a Nevada corporation. 3. The United States Lines to be owned jointly by the Dollar and Roosevelt interests through an equal distribution of the Nevada corporation’s 3,600,000 shares. 4. The Dollar line to continue intercoastal service with the I. M.

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M. controlled Panama Pacific line, but with non-conflicting schedules. 5. The fleet of the United States Lines, including two new 30.000-ton liners now under construction, wiii remain in Atlantic service. Hawk Grabs Child: Caught By United Pre* SIOUX CITY. Ia„ Oct. 22. —A giant hawk which tried to carry away “Buddy” Knudson, 7, could ! not lift him and got its claws so entangled in the boy’s clothing it could not escape. “Buddy” suffered severe scratches before an older boy 1 killed the hawk.

The Year Past ■s Wl HEN Indianapolis was confronted * * with last winter’s crisis, brought on by unemployment, 70,000 public-spirited citizens turned to the Community Fund and made that organization its administrator of the $900,000 which they subscribed. 1 These stockholders can think with pride of the services rendered as having been made possible by their investment in Indianapolis and its future. It is apparent that the 38 Community Fund agencies have, as a group, shaped their year’s work so as to deal constructively and adequately with the .by-prod-ucts of an unemployment depression of unprecedented proportions. \ / s The Year Ahead \ w Without the Community Fund and its 70,000 contributing stockholders, Indianapolis would have suffered a major disaster last winter. The Community Fund’s 38 agencies are an indispensable and tested kit of tools, ready to build a second bulwark of human service and material resource to stem a second winter’s tide of unemployment. Today the thinking citizens of Indianapolis again look to the Community Fund as their only instrument to cope with the problems of the coming winter. / The adequacy of the coming year’s program of service and relief will depend upon the sacrificial giving of such publicspirited citizens as believe that the future of Indianapolis depends upon the Community Fund meeting this crisis. Indianapolis is uniquely the typical American city. The eyes of the entire nation are on us. The job must be done! Thirty-eight Agencies Indianapolis Community Fund This Advertisement—Courtesy of a Friend

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