Indianapolis Times, Volume 43, Number 182, Indianapolis, Marion County, 9 December 1931 — Page 12

PAGE 12

BURGLAR FOILED IN 12 ATTEMPTS; STOREJELD UP Routed Twice by Women’s Screams; Bandits Bind, Gag Victim. A burglar who was surprised by women in two of twelve unsuccessful burglary attempts Tuesday night and early today is sought on the north side by police. The intruder's last appearance occurred early today when Miss Martha Aldrich, 1603 Central avenue, Apartment 113, was awakened as he flashed a light into her bedroom. He fled through a window when she screamed for help. Earlier, Mrs. Victor Raithel, 1309 North Pennsylvania street, Apartment 9, had surprised the burglar os he attempted to enter her home through a window. He fled when she called for help. He’s Persistent Lad The thief operated In the vicinity the remainder of the night. He was successful in entering the home of George Thomas, 326 East Twelfth street, by smashing a lock on the rear door, but failed to obtain loot. Police said they had reports he attempted to enter nine other residences in the vicinity of the 1200 block, North Alabama and New Jersey streets. Theft of merchandise valued at $75 from the Edward Enners pharmacy, 246 North Noble street, early today, was reported to police. The burglars entered by prying open the front door of the establishment. After they had obtained $45 from Louis Ozman, clerk in a grocery at 701 West New York street, Monday night, two masked Negro bandits escaped under police fire. Kind and Gag Him Ozman said the bandits entered the store with drawn revolvers and bound and gagged him in a rear room. Sergeant Edwin Kruse and squad pursued the outlaws along a railroad track at New York street and the canal. Other thefts reported: Firestone Service Store, Inc., Michigan and Delaware streets, s3o;’ Mrs. Carl H. Lieber, 1205 North Alabama street, house ransacked; Mrs. Mark Terrill, 624 East Fiftyninth street, SIOO diamond ring; Mrs. Bertha AdofT, dry goods store, 1802 Howard street, unestimatcd amount ot merchandise stolen, and Samuel Blays’ dry goods store, 1804 West Morris street, $lO in merchandise.

Radio Dial Twisters

Indianapolis Fower and Light Company _ WEDNESDAY F. M. s:3o—St. Moritz orchestra (CBS). 5:45 Reis and Dunn (CBS). 6:oo—Time, weather. Santa Claus. 6:ls—Dinner ensemble. 6:3o—Boswell Sisters (CBS). 6:4s—Downev and Wons (CBS). 7:oo—Jack Tllson’s orchestra. 7:ls—Slnyln' Sam (CBS). 7:3o—Kate Smith (CBS). 7:4s—Mpdern male chorus (CBS). B:oo—Fast Freight (CBS). B:3o—Atop the Indiana roof. B:4s—Bean Creek string band. B:ss—Answer man. 9:oo—Personalities (CBS). o:ls—Symphony orchestra (CBS). o:3o—Columbia concert (CBS). 9:4s—Louie Lowe orchestra. 10:00—Bing Crosby (CBS). 10:16—Street singer (CBS). 10:30—The Columnist. 10:45—Louie Lowe orchestra. 11:00—Atop the Indiana roof. 11:30—Noble Sissle orchestra (CBS). 12:00—Oklahoma cowboys. WKBF (1400) Indianapolis (Indianapolis Broadcasting. Inc.) —WEDNESDAY— P. M. 4:3o—Jack and Jill. 4:4s—News flashes. s:oo—Harry Bason. 5:15 —Santa Claus. s:3o—Evening announcements. 6:oo—Hanson and Johnson. 6:3o—Jerry and Charlie. 6:45 Orchestra. 7:ls—ldeal Boy. 7:3o—Rhythm Boys. 7:4s—Orchestra. B:oo—Announced. B:ls —Announced. B:3o—Chronicles. 9:oo—lndianapolis Public Schools. 9:3o—Announced. 9:4s—Harry Bason. 10:00—Showboat orchestra. 10:30—Sign off. WLW (700) Cincinnati WEDNESDAY P. M. 4:oo—Chats with Peggy Winthrop (NBC). 4:ls—Mouth health (NBC). 4:3o—Los Vaqueros del Ramona. 4:4s—Lille Orphan Annie (NBC). 5:00—Old man sunshine. s:ls —Announcement. s:l7—The chatter. s:29—Time announcement. s:3o—Dog talk by Dr. Glenn Adams. s:4s—Lowell Thcinas (NBC). 6:oo—Amos 'n' Andv (NBC). 6:ls—John Ruskin dance orchestra. 6:3o—Netherland Plaza orchestra. 7:OO—R. F. D. hour. 715—Remington rhythm rounders. 7:3o—Jack Frost's melodv moments iNBC). B:oo—Adventures of Sherlock Holmes (NBC). B:3o—Dutch Masters Minstrels (NBC). 9:oo—Parchtes program. 9:ls—Variety. 9:3o—Auto-Stokers. 9:4s—Time. 9:46—80b Newhall. 9:58 —Wenther. 10:00—Night caps. 10:30—Grcvstone Ballroom orchestra. 10:59—Time. 11:00—Orchestra. 11:30~Orchestra. 12 Midnight—Time announcement. AM. • 12:01—Sign off. Day Programs W’FBM (1200) Indianapolis Indianapolis Power and Light Company THCRSDAY A. M. 7:30 —Records. 9:oo—Women's hour. 10:00 —Musical scales. 10:15 to 12:00—Silent. P. M. 12:00—Farm Network (CBS). I:oo—Society reporter. I:ls—Salon orchestra (CBS). I:3o—American School of the Air (CBS). 2:oo—La Forge musicale (CBS). 2:3o—Two Thirty Tunes. 3:00 to s:3o—Silent. WKBF (1400) Indianapolis (Indianapolis Broadcasting. Inc.) THURSDAY A. M 6:30 —Cadle Tabernacle program. 7:oo—Church Federation program. 715—Charlie Flagler 7:30 —Santa Claus. 7:4s—Musical Clock. 8 00—Breakfast bazar. B:3o—Housekeepers' chats. 9:oo—Morning music. 9:15 —Hanson and Johnson. 9:3o—Studio features. 9:3s—Morning mustngs. 10:00—Housekeepers' forum. 10:30—Louise Spillman. 11:00—Jerrv and Charlie 11:15 —Luncheon music. 11:45—Ruth Otte. 12:00 Noon—Farm program. fa 30—Butter and egg quotations. 12 45—Walter D. Hickman theater review. I:oo—Silent. , KIRBY - PAGE TO SPEAK Kirby Page, editor of the World Tomorrow, will speak at Butler university the morning of Jan. 4. and at a luncheon open to the public, according to arrangements being completed by the Indiana Council on International Relations. Organization of committees will take place at a luncheon meeting of the council In the Lockerbie Saturday. '

Sweeping Increase in Taxes for Two-Year Period Asked in Hoover Budget Message

I By United Prmit i WASHINGTON, Dec. 9.—The budget message of President Hooi ver to congress was, in part, as follows: For the fiscal year ending June 30, 1932, the receipts, originally estimated at $3,956,000,000, now are | expected to fail of realization be- | cause of the severity of the depres- ' sion and will fall below the estimates by $1,717,000,000, The principal elements entering into this decline in revenues are in-come-tax receipts, $1,140,000,000; customs receipts, $202,000,000; miscellaneous internal-revenue receipts, $132,000,000, and postponement of payments of principal and interest | on the foreign debt, $247,000,000. Expenditures are expected to increase over the original estimates by $437,000,000. This is the net difference between many items of increase and decrease. The principal increases, in part due to subsequent legislation, include added benefits to veterans, $135,000,000; speeding up of public works to aid unemployment, $160,000,000; federal farm board revolving loan fund, $80,000,000; interest on the public debt, $24,000,000; postal deficit $81,000,000; and settlement under the war claims act, $37,000,000. Cites Rigid Reduction There are many other individual items of increase over the expenditures estimated a year ago which would swell the total of increases materially. Rigid reduction of expenses, elsewhere supplemented by decreases in public debt expenditures on account of the moratorium and smaller tax refunds than were estimated originally, serve to offset the total increases. These changes in receipts and expenditures indicate a deficit of $2,123,000,000, which Includes statutory debt retirement or a probably net debt increase of $1,711,000,000. We now are face to face with a situation where for a time the current revenues of the government under our existing laws have fallen below the amounts required to meet the absolutely necessary expenses. This brings the question directly before us of the course that shall be pursued. As already stated, the deficit for the fiscal year 1931 is $902,000,000 and the estimated deficits for 1932, $2,123,000,000, and 1933, $1,417,000,000 or a total of $4,442,000,000, which, after deducting statutory debt redemptions and increased cash in the treasury, show for these three fiscal years a total probable net increase in the national debt of $3,247,000,000. Rightly or wrongly, our tax system is based very largely upon business profits and in consequence is subject to great variables.

Urges Tax Increases

“We can not maintain public confidence nor stability of the federal government without undertaking some temporary tax increases. It obviously is impossible to impose a degree of taxation which will balance the budget for the current fiscal year. " We should endeavor by increase of taxes and rigid curtailment of expenditures to balance the budget for the next fiscal year eAept to the extent of the amount required for statutory debt retirements. We should assure its balance, including statutory debt retirements, for the fiscal year following. I recommend that congress provide for an increase in taxation for a definite limited period and upon the general plan of taxation which existed under the revenue act of 1924, with such changes as may be appropriate in the light of altered conditions. The secretary of the treasury has prepared recommendations along these lines which he will present at the proper time. It is proposed that this increase shall be terminated definitely in two years from next July. This plan, it is estimated, will realize $920,000,000 next year, and thus meet the above conditions of balancing the budget for the fiscal year 1933, except for the statutory debt retirement. It would balance the budget, including debt retirement, in the fiscal year beginning July 1, 1933. It would provide about $390,000,000 for the current year, leaving us with the necessity of borrowing an amount which will represent a net increase in the public debt by about $1,320,000,000.

Taxes Not Intolerable

The plan of approximately reenacting the revenue act of 1924 has the great advantage that the government is equipped by experience with similar legislation for its systematic and economical collection. The public has paid such taxes in the past and has found them not intolerable and has found that they do not prevent increased prosperity. By providing a definite date for termination of the temporary increase it will allow taxpayers to look forward to definite relief. I further recommend that congress inquire into the economic effect of the provisions of the present law refuting to capital gains and losses. There is requested in this budget a total of slightly more than $1,072,000,000 for the veterans’ administration, compared with a total appropriation for 1932 of approximately $947,000,000. About $21,000,000 of each of these amounts pertains to the civil sendee retirement and disability fund, and is not properly chargeable to the annual cost of caring for our veterans, which thus becomes $926,000,000 for 1932 and $1,051,000,000 for 1933. Comparison of these amounts indicates on its face a net increase of $125,000,000 for 1933. However, it is now known that additional appropriations will be required for the fiscal year 1932 to the approximate amount of $260.000,000, of which $200,000,000 is to meet obligations due to the increase in the loan value of adjusted-ser-vice certificates and $60,006,000 to meet the requirements for military and naval compensation, army and

I navy pensions, and aid to state and territorial homes for disabled veterans. $135,000,000 Decrease Taking these supplemental requirements for 1932 into consideration, the above indicated net increase of $125,000,000 becomes a net decrease of approximately $135,000,000. This net decrease, however, is due largely to the adjusted-service certificate fund requirements, which are $162,000,000 less for 1933. If the adjusted-service certificate fund be excluded from both 1932 and 1933, the estimates for 1933 represent an ultimate net increase over 1932 of $27,000,000. This amount is the net difference between several items of increase and decrease. The principal item of increase is found in military and naval compensation, which is up $42,000,000. Resulting from the increase in hospital and domiciliary facilities, the cost of administration, medical, hospital and domiciliary services shows an increase of $4,460,000, and there is a further increase of sl,527,000 in the item for hospital and domiciliary facilities. Offsetting these increases is a decrease of $9,000,000 in army and navy pensions, $4,500,000 in military and naval insurance, and $7,762,000 in the government life insurance fund. Army Cut $33,952,000 The estimates for national defense under the war and navy departments for 1933 aggregate $644,650,00 as compared with the appropriations for 1932 for this purpose totaling $695,691,000, a decrease of $51,041,000. These amounts exclude all items of a non-military nature. The net decrease for the war department amounts to $33,952,000. This is due mainly to the fact that owing to lowered community costs .there will be carried forward into 1933 large stocks of subsistence, clothing and other supplies, and to a decrease in the present estimates from the appropriations for 1932 of funds to carry forward the army building program. The postponement of other projwhere practicable without serious detriment to the maintenance, operations and training of the army also has been a material factor in effecting reduction in the estimates for 1933. Cites Navy Figures Provision is made in these estimates for average active strength of 12,000 commissioned officers, 924 warrant officers, and 118,750 enlisted men of the regular army, and 6,500 enlisted men of the Philippine scouts; for an actual average strength of 185,000 officers and men of the national guard; for the training of 20,722 members of the organized reserves for varying periods; for the enrollment and instruction of 127.565 students in reserve officers’ training corps units in schools and colleges and the training of 7,200 of this number of forty-two camps, and for thirty days’ attend-

THEY TELL ME

BY BEN STERN FOR another year, at least, the group in the Republican party not friendly to George V. Coffin’s aspirations for dictatorship is in the saddle in the Irvington Republican Club. Despite attempts of Fred Dickerman, former state senator, to get a ticket into the field composed of those who will play ball with “Cap“ Coffin and' help his own congressional ambitions, he couldn’t make the grade and there was no opposing ticket to that headed by Harold Kealing, young attorney, in the balloting Monday night. Kealing’s election, according to observers, means continuation of the independent policies which have characterized the history of the club in recent years. It also indicates that as far as Eleventh district affairs go, the Irvington Republicans will play close to the G. O. P. in Hancock and Madison counties, although not breaking with the organization in the western section of Marion county. tt tt tt Whether the Kealing administration will attempt to further the reputed ambitions of Bert Morgan for

The Times Radio Poll (Clip this ballot and mail to The Times Radio Vote Editor) How do you and your radio get along? What is the Indianapolis radio “frame of mind?” That is just what The Times seeks to learn in its Indianapolis radio poll, which opens today and closes next Monday at midnight. Who and what are your favorites? Vote now! Yom favorite type of progrram Yonr favorite program Your favorite dance orchestra Your favorite symphony orchestra Your favorite singer of popular songs.... Your favorite singer of classical or semi-classical songs Your favorite harmony team Y'our favorite dialog act Your favorite master of ceremonies Your favorite sports announcer Vour favorite studio announcer Y'our favorite organist Y'our favorite instrumental soloist Your favorite dramatic act Your favorite musical program Your favorite comedy act Your favorite children’s program Y’our favorite program for men Y'our favorite progam for women ; Y'our favorite -adio commentator tt tt m Name Address

THE INDIANAPOLIS TIMES

ance at citizens’ military training camps of 37,500 trainees. For the navy department the items contained in the estimates for purposes of national defense for 1933 amount to $342,606,000. The comparable amount appropriated for 1932 is $359,694,000. This indicates a decrease under 1932 of $17,088,000. This decrease includes $15,000,000 for ordinary maintenance and operating expenses of the fleet and the shore establishment, $8,000,000 for shore projects and $7,150,000 for construction of new ships. It provides an increase of $15,000,000 for modernization of battleships. The items for ordinary maintenance and operation of the fleet and shore estalbishments provide for maintaining during 1933 an average of 79,700 enlisted men of the navy, the same as provided for 1932, and an average of 15,343 enlisted men of the marine corp as against 17,500 men provided for 1932, Under these estimates no fighting vessels will be decommissioned and no navy yards or training stations will be closed. The estimates of $31,400,000 for the construction of new vessels, compared with the appropriation of $38,550,000 for 1932, indicates a decrease of $7,150,000. This, however, is a facial decrease only. We recently have closed one fiscal year and now are advanced into another year where the depression in business has resulted, on the one hand, in a heavy falling off in receipts and, on the other hand, in large federal expenditures to provide work to assist in the relief of unemployment.

Involves Three Steps

x The welfare of the country demands that the financial integrity of the federal government be maintained. This is a necessary factor in the rebuilding of a sound national prosperity. This budget, with its recommended reductions in appropriations and increases in revenues, presents a definite program to this end involving three steps—first, a material reduction in the anticipated deficit for the current fiscal year; second, a relation between receipts and expenditures for the fiscal year 1933, which will avoid a farther increase in the public debt during that year, and third, a balanced budget for 1934.

To carry out this program it is important to emphasize the fact that we are now in a period where federal finances will not permit of the assumption of any obligations which will enlarge the expenditures to be met from the ordinary receipts of the government. I am confident that the congress realizes this situation and will give it full consideration in passing upon matters which may contemplate any such additions to our spending program. To those individuals or groups who normally would importune the congress to enact measures in which they are interested, I wish to say that the most patriotic duty which they can perform at this time is to themselves refrain and to discourage others from seeking any increase in the drain upon public finances.

the district chairmanship, remains to be seen, but it is certain that playing with Coffin in this direction will be out of the question. Incidentally, all indications are that Coffin will not relinquish his control upon the Republican county, and, through this, the city organization. No doubt “Cap” realizes that the chances of a Republican victory in the county next November are npt so cheery, but it must be remembered that precinct committeemen elected in May serve two years and, therefore, through the 1933 city campaign, and it is toward this event that Coffin is pointing. tt To make sure that he will be in command in the 1933 city campaign, he must see to it that his own precinct committeemen are elected in the spring. If the feeling of hopelessness now evidenced by Republicans of all factions continues to exist in May, there will be no spirited fight to halt continuation of Coffin control, but if a spirit of optimism prevails; then “Cap” will have a real battle on his hands, with the opposition in a fighting mood.

COMEDY PAIR IS RANKED AT TOP IN RADIO POLL Stoopnagle and Budd Are Given Many Votes in Times’ Contest. BY JOHN T. HAWKINS Times Radio Editor Stoopnagle and Budd, that mimicking, rollicking comedy duo, have swept to the front in The Times Radio poll as one of the most popular features on the air, insofar as Indianapolis radio listeners are concerned. Fully one-third of the ballots already cast have voted the “Colonel" and his pal Budd as the best comedy act on the radio. Amos 'n' Andy, now embroiled in another “scandal,” are leading the dialog artists and Kate Smith has been given the edge over the popular males as the star crooner of popular songs. Ben Bernie is ranked high in the master of ceremonies class, while the voting for the most popular studio announcer is spread out over a large field. The Times’ poll, which closes next Monday at midnight, is conducted in an effort to learn the radiotrend ox Indianapolis and vicinity, and to advise program builders in the middle west of the most popular programs and types of programs so that they may go to the heart of the entertainment desires of the public. Results of the poll will be given Indianapolis stations WKBF and WFBM and other large stations in the midwest. The-Times today again publishes its boxed ballot. Clip it out now and send it immediately to The Times radio vote editor. Remember, there are only five more shopping days in this contest.

Clothe a Child for Christmas List of Donors

Donors to The Times Clothe-a-Child for Christmas plan to date are: Anonymous, Mr. and Mrs. Beam s Bowline alleys. 161 North IlliH ' ai L d ! w ‘ lliam B ® an >. proprietors. (Bov and eirl.) He Remembered Them (two hoys). r i. and Mrs. W. O. Plummer and Mr. and Mrs. TV. H. Wilharm. store SS n ’* a lingerie dept. Fair Mrs. Rowan Hicks. 528 Parker avenue. Craig s candy store No. 2, at 40 North Pennsylvania street. Alias Santa Claus. Friends of Little Girls (took another boy). Phi Sigma Chi fraternity. Mrs. Washington Exchange. Knight Club. Junior Guild of New Bethel Baptist church George E. Hopkins, 309 Board of Trade building. Alpha Nu chapter of Chi Sigma Chi. Marmon Girls’ Group. „ Merle and Glen Lawler, 649 North Hamilton avenue. Just A Good Pal. Mrs. Washington Boulevard. Sheriff “Buck” Sumner’s office (boy and girl). Indianapolis Bowling League. Pritchett alleys. Friends of Little Girls. Mr. and Mrs. Edward Long. 5140 East Washington streetlota Chi sorority. A Kindly One Who Called. Miss Delia Harlan. 774 East drive. Woodruff place. C. B. S. Club. Stereotypers and Engravers of The Times. Employes of third floor L. S. Ayres. No Name Lady. Universal Club (three girls and three bovs). Tenth floor of Roosevelt building Bert Louden 220 North Osage street. A group of Tech Girls. Mystery Mr. and Mrs. Motheis and Daughters’ Club of North Irvington. The Glad Girl. Thursday Afternoon Club. Employes of Indianapolis Life Insurance Cos. (twins). Keep Our Name Out. A Happy Couple. Ladies’ Oriental Shrine drum corns Mr. and Mrs. W. O. Jones. 4930 North Arsenal avenue. Service staff of Indiana theater. Downstairs store. L. S. Ayres & Cos. Girls of The Times. Comnosing room of Times (two boys). Mailers of Times. Business office of Times. Pressroom of Times. Advertising Department of Times. Editorial Denartment of Times. Circulation Denartment of Times. A Company Executive.

A PLAY NEW HERE TO OPEN AT PLAYHOUSE

TONIGHT marks the opening of the first of Hale Mac Keen’s three special productions ct the Civic theater. The play, “The S. S. Tenacity, ’ is the translation of a modern French work said to have been written especially for production in the intimate type of theater such as the Civic theater’s playhouse. It is chosen as an outstanding example of present day European trends whereby through the medium of selective characterization transcends the importance of plot. The principal characters are two ex-soldiers, both of whom fall in love with the same girl while they are temporary guests at a water-front

lodging and in the postponed departure of the S. S. Tenacity. Into the public room of the little hostelry come various types of workmen whose conversations supply the background of realism for the plain tale of the wooing of the girl. One of the ex-soldiers is of the dashing type who did rather brave things during the war and who makes love in the same dashing manner. The other ex-soldier is a more gentle individual, but proves in the end to be made of rather sounder stuff. The cast is as follows: Therese Barbara Foltz The Widow Cordier Eunice Peirce Bastien George Lehman Jr. Seeard Ronald Van Asdale Hidoux Arthur J. Beriault Art English Sailor ...Robert Hollingsworth Workmen: Richard Bixbv. Daniel McDuffee. Park Newton. Francis Sondav. Passerby: Dorothy Morris. Katherine Morris. Katherine Rigsby. William Dunne, Jane Sky. “The S. S. Tenacity” will be presented each evening the rest of this

—■“YOUR CHANCE”—■ Before Christmas to get our High-Class Eye Examinations, fitted with Haag’s White Gold - Filled Octagon Glasses to suit your eyes, at very moderate prices. Come in, see for yourself. Satisfaction Guaranteed. No Extra Charge on Eye Examinations OTOT SPECIAL OFFER THIS WEEK—Your Eyes Examined _ _ by a Specialist and large lenses fitted in our White S ,75 Gold-Filled Mountings complete, low as Y 4 ** (Sold by many for $9.50) 88l HAAG’S EYE SERVICE Dr. C. J. Klaiber—Dr. A. J. Grob 129YVWASHINGTON ST. (OPPOSITE INDIANA THEATRE) Hours: 9 A. M. to 8 P. M Sundays. IS to 11:30 A. M. PHUBH Saturdays. 9 A. M. tj 8 P. M. Phone Riley 3994.

Increase in Taxes Recommended in Mellons Report

By United Pre WASHINGTON, Dec. 9.—The text of Secretary of Treasury Mellon’s tax Increase proposals, contained in his annual report, was as follows: I make the following recommendations for the provision of additional revenue, the new measures to terminate at the close of the fiscal year 1934, that is, two years from next June: Individual Income Tax—The normal rates to be fixed at 2, 4 and 6 per cent; surtax rates at 1 per cent, beginning with incomes over SIO,OOO, graduated up to 37 per cent on incomes between SIOO,OOO and $200,000, and reaching 40 per cent on incomes in excess of $500,000, as compared with the present maximum rate of 20 per cent on incomes in excess of SIOO,OOO. Personal exemptions to be fixed at SI,OOO and $2,500, with a credit of S4OO for each dependent. The earned income provisions of the revenue act of 1928, permitting larger deductions in respect of earned income than were permitted by the act of 1924, should, in my opinion, be continued. The treasury contended at the time of the passage of the revenue act of 1924 that individual income tax rates carried in that act were higher than it is wise or desirable to impose under normal conditions. This still is the position of the treasury department.

Emergency Is Cited

We are convinced that in the long run lower rates are more productive than the higher ones. But these are not normal times. There is a real emergency, resulting in the immediate need for a substantial amount of additional revenue. Until the emergency is passed, we can not avoid utilization of emergency measures. We believe that the taxpayers will recognize the facts of the situation, and, particularly in view of their temporary character, will co-operate with the government to make higher rates effective. The proposed revisions would bring back into the taxpaying group some 1,700,000 individuals. Even so, our income tax law still would remain a tax paid by relatively few individuals. There would be only some 3,600,000 federal taxpayers in a nation of 120,000,000 people, and of this number less than 300,000 would contribute 90 per cent of the tax. It is estimated that such revisions will result in collection of additional income taxes in the amount of about $83,000,000 during the last half of the fiscal year, 1932, and about $185,000.000 during the full fiscal year 1933. Os this additional revenue, it is estimated that about three-fifths will be derived from incomes of SIOO,OOO and over, and more than four-fifths from incomes of SIO,OOO and over. For reasons I often have expressed, it is my belief that when the emergency period is passed, lower rates should be restored. Corporation Income Tax The corporation income tax rates should be increased from the present 12 per cent to 12% per cent. In addition, I recommend that the exemption of $3,000, at present provided for domestic corporations w r ith net incomes of $25,000 or less, be eliminated. It is estimated that this proposal will result in an increase of about $27,000,000 in corporation income tax receipts during the last half of the fiscal year 1932, and about $60,000,000 during the full fiscal year 1933.

Under the 1924 act, a substantial amount of revenue was provided

week. The play is in three acts and four scenes. tt u tt MAGICIANS TO BE GUESTS TONIGHT Hold tight to your watch, your rings and handkerchiefs when you go to the Lyric tonight, for the house is destined to be well supplied with the knights of the magic wand. Blackstone, magician who with his show is the chief attraction at the Lyric this week, has invited all members of the International Magic Circle, of which he is the president, to vie with each other on the stage at the 9 o’clock show as part of his regular act. Roltaire Eggleston and some twenty or thirty local members of the Magic Circle have accepted the invitation and will be on hand with their very best tricks. Blackstone is also planning to present various members of his organization who appear at this performance with some handsome magic books which he has personally autographed.

through miscellaneous taxes. These included the tobacco taxes, the taxes on admissions and on club dues and certain stamp taxes, which have been retained, and the capital stock tax, other special taxes, the tax on manufacturers’ sales of automobiles, trucks and accessories, and a number of minor taxes which have been repealed. In view of the marked contraction in corporation and individual incomes, in recent years the principal source of taxation, it seems essential that, as under the revenue act of 1924, substantial adidtional revenues be provided by miscellaneous taxes. I do not recommend, however, the exact provisions of that act as to miscellaneous taxes. Miscellaneous Taxes Accordingly, i recommend that additional revenue be provided from the following sources: An increase of one-sixth in the present rates on tobacco manufactures and products, except cigars; au increase of 1 cent in the existing stamp tax upon sales or transfer of capital stock; extension of the present tax on admissions, through reduction of the present exemption to 10 cents; a tax on manufacturers’ sale of automobiles, trucks and accessories at 5,3 and 2% per cent, respectively: a stamp tax on conveyances of realty of 50 cents for each SSOO of value in excess of $100; a tax of 5 per cent on manufacturers’ sales of radio and phoongraph equipment and accessories; a stamp tax of 2 cents on each check and draft; and a tax on telephone, telegraph, cable and radio messages of 5 cents for charges ip the amount of 14 to 50 cents, and 10 cents for charges in amounts in excess of 50 cents. The amount of revenue which would be realized from the miscellaneous tax proposals would depend upon when they became actually operative. Additional revenue on the basis of assumed collections for a period of six months from January through June, 1932, is estimated at about $205,000,000. The increase for the fiscal year 1933 is estimated at $514,000,000.

•Estate Taxes

I frequently have expressed my opposition in principle to the levying of excessive taxes on estates of decedents. Notwithstanding the views which I have expressed, I believe that in the existing emergency estates should contribute some additional revenue to the government. * should be observed, however, that because of the longer period provided for payment on tax on estates, additional revenue from this source would not be realized until the latter part of the fiscal year 1933.

The congress drastically Increased rates in the 1924 act, but evidently felt that this action was unwise, since in 1926 the increases were repealed, retroactively. I, therefore, recommend that the present rates and exemptions be revised to correspond to those effective under the revenue act of 1921. That act provided for taxation of net estates at rates graduated from 1 per cent on the first $50,000 up to 25 per cent on amounts in excess of $10,000,000. Except for the high rates provided by the revenue act of 1924. which never were actually operative, the proposed maximum rate of 25 per cent is the highest previously in effect.

Supertax Recommended

To avoid the undesirable result of automatic increase in state levies on estates in certain states in which such taxes are based on the present federal rates, it is proposed that the increase be effected by means of a supertax, to be imposed in addition to present rates, with no deduction from this supertax for state taxes paid. Under such arrangement, amounts of state taxes paid would continue to be allowed as credits against the federal tax, as provided under the present law, up to 80 per cent of the latter tax, but the entire proceeds of the proposed supertax would be retained by the federal government. Additional collections from this source are estimated at about $11,000,000 for the last half of the fiscal year 1933, and about $22,000,000 for the full calendar year 1933. The estimated amount to be added to the federal revenue in 1933 by the proposed supertax represents approximately 50 per cent of the estimated collections (after deduction of credits) under the present law-.

Postal Revenues

In recent years the failure of postal revenues to cover expenditures has resulted in increasing postal deficits, which have been met from the general revenues of the federal government. A part of this deficiency may be attributed to expenditures for special services, such as cost of free postal sendees performed for gov-

Conservative Banking ill North Pennsylvania Street KSI SECURITY Checking Account* ‘L. ! Jjjgjjjpil TP-UST COt Savings Accounts ■,-r-rl fvT‘V'l T'T'WKI Management of Property •m-f-mrnSSs !|H *1 KCT'Byvl E Management of Estates it jjj Safe Deposit Boxes *>. , Security * raid °nn, TRUST CQMPANY /V Savings | (Member Indianapolis Clearing Home

.DEC. 9, 1931

LENZ INCREASES LEAD IN BRIDGE BY 3BOPOINTS No Fair Test of Systems Shown Yet, Asserts Expert on Cards. By United rresti NEW YORK. Dec. 9.—Sidney S. Lenz, grim champion of the new official system in contract bidding, retains his lead over Ely Culbertson after session two of the battle of the bridge theories. Lenz and his partner, stocky young Oswald Jacoby, bagged four of the seven rubbers played Tuesday night and boosted their advantage of 1,715 to 2,075, a gain of 360 points for the day. Culbertson, a thorough showman, waited until everything was ready for the opening deal of the evening, saw to it that the press was ably represented behind the leather screen which shields the players from kabitzers, then calmly asked if any one present would like to bet SSOO against his SI,OOO that he and his wife, Josephine, will not win. “Taken,” snapped Jacoby. Offers Another SI,OOO Culbertson raised his brows, looked rather scornfully at Jacobv, then smiled. , “Do you want another thousand?” he asked. Jacoby said he would think it over and let Ely know later. "Oh. well,” Culbertson said. "I might as well tell you that I"ve got, $25,000 I'll bet at 2 to 1 odds that Jo and I beat you.” So far as could be learned, therewere no takers, other than the one SSOO bet with Jacoby. It began to be evident today, however, that the widely heralded 150rubber conflict would be really conclusive only to the players themselves—if to them. Strategy Not of Best At least one stock-holding member of Bridge Headquarters, Inc., sponsor of the official system, asset ted that Lenz and Jacoby had changed the official one-two-three values so much that their play offered no fair test of their system. This statement was made after Lenz had made an oppning forcing three bid on a hand which contained the tempting ace-king-queen combination in two suits, both minors. Jacoby holding an ace-king, responded with three no trump and the hand was played, .and won. at four no trump, no slam being in sight. The forcing three bid worked admirably, but the contention of the dissenting official system advocate was that it was unjustified. Some of the strategy was not of tlie best in the second session. There was, for instance, the following hand:

LENZ SPADES—9 8 7 HEARTS—Q .1 9 8 6 5 3 DIAMONDS—S 4 CLUBS—7 CULBERTSON SPADES—Q 6 4 3 2 HEARTS—K DIAMONDS—6 3 CLUBS—IO 8 5 4 3 MRS. CULBERTSON EVADES—K J 5 HEARTS—7 4 2 DIAMONDS—J 9 8* CLUBS—A K 6 JACOBY SPADES-A 10 HEARTS—A 10 DIAMONDS—A K O 10 7 CLUBS—O J 9 2 Jacoby opened with the intermediate two bid of which the official system advocates are proud. The Culbertsons passed throughout. Lenz, bid two hearts, Jacoby two no trumps, Lenz three hearts. Jacoby three no trump and Lenz four hearts. Loss Is Only $2.07 He made five. At double dummy, taking the singleton king of heartswith the ace instead of trying a finesse, a little slam can be made, but with four hearts out, the declarer would be taking undue liberties if he attempted such a play. The most searching analysis of play in the first two sessions of the contest fails to give any basis for a strictly neutral judgment upon, the rival systems of bidding. Os the ten rubbers, the Lenz team has won six on the basis of games, and the Culbertson team four. On a basis of net score per rubber, the Lenz team has won seven, the Culbertsons three. But for the ten rubbers, the Lenz margin of 2,075 points amounts to only 207 per rubber and at the tenth of a cent a point which probably marks the normal household contract, the total loss of the Culbertsons for the ten rubbers would be a trifling $2.07.

ernmental departments and agencies, excess of cost of air mail service over revenues, and cost of special rates paid to ocean mail carriers of American registry. According to estimates by the postoffice department, the postal deficit, exclusive of such special expenditures, will approximate $150,000,000 for the fiscal year 1932. It is recommended that postal rates be increased to cover such deficiencies by a reasonable margin, that is, to provide additional revenues in the amount of not less than $150,000,000 on an annual basis, thus relieving the budget for the fiscal year 1932 by about $75,000,000, and for 1933 and subsequent years by the full $150,000,000.”