Indianapolis Times, Volume 43, Number 187, Indianapolis, Marion County, 15 December 1931 — Page 2

PAGE 2

LEADERS VOICE OPPOSITION TO TAX HIKE PLAN Democrats and Republicans Join in First Attacks on Hoover Scheme. i * Hu Scrlppg.Howard Xcwgpaprr Alliance WASHINGTON, Dec. 15.—Widespread opposition to the retroactive feature of the Hoover-Mellon tax increase program was voiced today by those Democratic and Republican leaders of congress who will exert the most Influence in framing the proposed legislation. The Hoover plan calls for payment of higher taxes during the calendar year 1932, starting with the March 15 payment, on income received during the year 1931. Although there is doubt concerning how extensively the administration’s schedules will be rewritten, many financial experts of senate and house believed this part of the plan would be eliminated. Though unwilling to discuss other details, they broke their silence with respect to the proposal to make any increase operative on 1931 incomes.

Would Pay in 1933 This would mean that the treasury would not obtain additional revenue until March 15, 1933, instead of next March. President Hoover, in his budget message, estimated ♦ hat the retroactive scheme would provide an additional $390,000,000 in the current fiscal year. Under the congressional proposal, the taxpayer first would feel the increase a year from next March, when he makes out his report on 1932 income. One argument against any retroactive provision is that it is unfair to large and small business men, to large and small corporations. It w'as pointed out that most business men and corporations plan beforehand for payment of taxes, and budget their income accordingly. Not expecting any increase on this year’s income, they have set aside only enough to meet the present rates. Fear Many Bankruptcies Some, it was suggested, have been able to do this only at great sacrifices, and probably would be unable to raise the additional cash. It might, in many instances, drive corporations into bankruptcy, especially those running on a small margin during the depression. Another argument is that any attempt to increase rates on 1931 incomes may aggravate the depression. This would result, it was said, from efforts of large interests to take losses on slumped stocks in the present calendar year, and thereby deduct them from their returns next March. The sale of such securities, it is feared, would depress the stock market further, and have an adverse psychological effect. Besides this revision, the Democrats are expected to oppose lowering exemptions from $3,500 to $2,500 for a married man, and from $1,500 to SI,OOO for a bachelor. They also may revamp the proposed nuisance taxes. An effort to retain existing rates on personal incomes below SIO,OOO, to raise the proposed maximum surtax from 40 to 44 per cent and to insert a gift tax, will be made.

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,i33 135 WEST WASHINGTON-ST OPPOSITE INDIANA THEATRE

Reunited?

Despite denials, reports persist in Chicago of a possible remarriage of Edith Rockefeller McCormick and Harold F. McCormick, v;ho are shown here. The scion of the harvester inventor and the daughter of John D. Rockefeller Sr., were married in 1895 and divorced in 1921. Mr. McCormick was divorced a second time, recently, from the prima donna, Ganfta V/alska.

NATIONALISTS MEET Political Party Likely to Hold Convention Here. Selection of a city for the 1932 national convention of the National party was to be made at the fifteenth annual meeting of the party at 2 today in its headquarters, 2315 East Troy avenue. Ballots of members throughout the nation on their choice for national officers will be counted at the meeting. Present national officers are John j Zahnd, Indianapolis, national chair- j man; Miss Florence Garvin, Lons- ; dale, R. 1., vice-chairman; Mabel 1 La Rue, Indianapolis, secretary, and j Charles L. Baxter, Mt. Liberty, Ind., ! treasurer. Names of Miss Garvin, L. E. Eickelberg, Waterloo, la., and Thomas S. Wright, Lancaster, 0., have been suggested as possible presidential nominees. TWO HELD IN KNIFING Assault and Battery Charged to Man Cut in Back by Opponent. Police today held two men after a brawl in a poolroom in the 400 block Massachusetts -a ’.care, in which brie of them was cut. Isadore Koby, 811 West Forty third street, was cut in the back. Harry Pierson, 1611 North Illinois street, ’ charged with the attack, is held on charges of assault and battery with intent to kill. Koby, in city hospital, is charged with assault and battery.

WATSON SPORS SHORT' SELLIN6 QUIZ IN SENATE Floor Leader’s Approval Clears Path for Wall Street Investigation. BY PAUL R. MALLON Cnited Press Staff Correspondent WASHINGTON, Dec. 15.—The Wall Street practice of “selling | America short” is due for a senatorial investigation soon. Action on the Hastings resolution j calling for an inquiry apparently was assured today when James E. Watson, Republican floor leader, an- | nounced he was in favor of it. The swing of conservatives to j such a drastic move against the ; market shorts makes the senate al- | most unanimous in favor of the in--1 vestigation. No more conservative senators exist than Watson, the I floor leader, and Hastings (Rep., | Del.), who introduced the resolu- ! tion. See Prices Depressed They have come around to this new position because prices continue to sag on the exchange despite private restrictive arrangements instigated by President Hoover some months ago. Watson told the United Press today he had received reports that the j short selling practice had much to do with the present decline of prices. He said the exchange stopped the practice for two days about eight weeks ago, but Richard Whitney, j president of the exchange, was making speeches now against furI ther restrictions. I “Nobody wants to stop legitimate ! short selling,” the floor leader said. | “It is just as good as long buying. But stock gamblers take advantage of a situation to hammer stocks down in times of stress, greatly to | the detriment of the country. No Opposition Expected “The investigation will do no harm. If short selling is defensible it u'ill be an easy matter for the exchange to prove it before a senate committee. “If it is indefensible, as I contend, it certainly will be beneficial and helpful to the stock exchange and the country to know the fact.” The western independent group and Democrats have been calling ; for some such action for a long j time so there appears little prospect i that the resolution will be opposed. Washington Pupils Hear Lecture “A Balcony in Jerusalem” was the i title of the lecture of Mrs. DemarI chus Brown, speaking before the student body of Washington high school today and Monday. The lecture is a Christmas gift from the pupils of Shortridge high school. George Buck, principal of Shortridge high, introduced the speaker at both meetings.

Itchy Eczema Spread Over Hands. Healed by Cuticura. “Eczema broke out in small pimples on my finger. It itched and burned and when I scratched it spread all over my hands. I could not put my hands in water, and the breaking out bothered me while doing my school work. My mother also was troubled with it. “We tried different remedies but they did not do any good. I read an advertisement for Cuticura Soap and Ointment so purchased some and after using them about four and a half months we were completely healed.” (Signed) Miss Elfrieda A. Seeley, 5111 Garland St, Detroit Mich., Feb. 9, 1931. Soap 25c. Ointment 23 and 50c. Talcum 25c. Sold ■everywhere. Sample each free. Address: “Cuticura Laboratories, Dept. H. Malden, Maas.”

THE INDIANAPOLIS TIMES

YOUNG STAR IN REVUE Grover Wilson Morgan, 17-Y T ear-01d Composer, to Appear in "Variety.” Grover Wilson, Morgan, 17, youthful pianist-composer, will appear

with the variety orchestra in “Variety Revue,” to be pr esen ted by Aileen Klaiber on Wednesday night at Wayne township school No. 1. The youth has been praised by several musical authorities. One of his own numbers will be sung by the R. A. G. trio, composed of Rudy Polley, ban-

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Morgan

jo: Arthur Cornelius, saxophone, and Morgan, piano. STUDY SCHOOL'S CAFETERIA PLAN Officials Begin Inspection of Pupils’ Eating Places. Cafeteria management was studied first hand Monday noon when school commissioners, high school principals, Fuperintendent Paul C. Stetson, and 'Business Director A. B. Good, visited the Manual Training high school lunchroom. The group had little fault to find with the cafeteria. Tentative plans were laid for visits to the ether high school cafeterias, though the principals reported that food prices and methods of operation vary little from those in the Manual lunchroom. At present, each principal is in charge of the cafeteria of his school. He appoints the manager who works in co-operation with the domestic science department. The small profits which are made are used to improve the cafeteria, or, in some cases, to make improvements in the school which would not be taken care of by the school board.

LOWER FARES TO CINCINNATI $2.25 Round Trip SUNDAY, DECEMBER 20th Leave Indianapolis 5:10 A. M. Returning Leave Cincinnati. Central Union Station 10:00 I’. M„ Eastern Time BALTIMORE & OHIO

LENZ’ MARGIN IS BATTERED DOWN BY CULBERTSON 4,840-Point Lead Is Pared Down to 15 After 40th Rubber of Classic. BY H. ALLEN SMITH Cnited Press Staff Correspondent NEW YORK. Dec. 15.—The Culbertsons and the Lenzes fighting across the green felt top of a card table, proved to the world Monday night that a contract bridge match can be as dramatic to some folks as a football game. Waging an uphill battle all the way, Ely and Josephine Culbertson played hard and furiously through the sixth session of the 150-rubber match to pare down the 4,840-point lead of Sidney Lenz and Oswald Jacoby. When the final rubber of the eve-ning-forty of the contest —had been completed, the Lenz-Jacoby team stood a bare fifteen points ahead. It was as exciting as a threalarm fire—those long minutes when the Culbertson assault was draining away the points of the Lenz lead. Lenz Margin Dwindles Josephine Culbertson, in those crucial moments of play, was bidding her hands for every trick they -were worth, and scoring heavily with each deal. The Lenz advantage dwindled—44s points, then 345, 175, and finally 75. Then Ely Culbertson broke loose with a four-heart bid, made it, and the tally stod at 745 points in favor of the Culbertsons. Up to the last hand, the Culbertsons were ahead by 775 points. Then the grizzled Lenz made a bid of three spades to pull himself out of the hole and wind up with the 15-point advantage. * Jacoby Relieved at End Mrs. Culbertson showed the strain of battle more than did others. There was little or no talking at the table. Culbertson, usually in-

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Hero at 11

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A Carnegie hero medal is being sought for Charles Jackson, 11, of Brownsville, Tex., who saved the life of curly-haired 2-year-old Ruth Sethman, shown with him above. The Jackson boy plunged into the water to save her from drowning ard then worked over her to get the water out of her lungs after he had pulled her ashore.

clined to leave the room -whenever he’s dummy, stayed in his chair and watched his wife shower down the aces and kings. Mrs. Culbertson beteame so nervous that, at her suggestion, the room was cleared of all spectators —reporters included. The cards fell in favor of the Culbertsons, but Ely and Josephine played superb bridge. “Thank goodness,” Jacoby sighed as the last hand was turned over, "thank goodness that’s over!” Holds*Up Pharmacy; Gets $25 A Negro gunman obtained $25 Monday night when he robbed employes of the J. R. Phillips pharmacy, North street and Senate avenue, police were informed today.

LOOT OF CITY ! CROOKS SCANT Less Than SIOO Obtained in Series of Raids. Looting an apartment, a grocery, an automobile and a home, Monday night, thieves obtained less than SIOO in cash and merchandise, according to police reports. As J. L. Hyatt, Arlington. Ind.. attended the basketball game at But- I ler fieldhouse, a prowler, looted his automobile of three basketballs and several players’ uniforms, valued at i $35. A thief took $2 from a child’s penny bank at the home of Wavne Williams. 1735 South Randolph street. Williams told police thieves had entered his home four times ! in eight months. Linens and clothing were taken from the apartment of Dr. John I Taylor. 1220 North Illinois street. Burglars broke a window' in a Kroger grocery at Thirtieth street and Cornell avenue, removing a j

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.DEC, 15, 1931

quantity of supplies, police weratold., Miss Harriet Deer. 3447 Carrollton avenue, clerk for Police Chief Morrissey, reported a thief stole her purse containing about S2O in valuables at a church at Delaware and Sixteenth streets. Fire Ruins S6OO in Clothes Dresses, coats and suits valued a& more than S6OO were destroyed in a fire of undetermined origin at a. Gregg cleaners establishment. 3404 East Tenth street, late Monday night.

DIUREX Eliminates the Poisons that Destroy Kidneys. Sold and Guaranteed At All HAAG DRUG STORES THE INDIANA TRUST CO. PAYS Interest on Savings series “ nd ... $2,000,000