Indianapolis Times, Volume 43, Number 216, Indianapolis, Marion County, 18 January 1932 — Page 3

JAN. 18, 1932.

FOREIGN BOND PROBE REVEALS SHADYJALING Banks Even Scorned Advice of Own Experts; Quiz Resumes Wednesday. Bv Scripps-Ts otcarrl Xetceptrpcr Alliance WASHINGTON, Jan. 18.--Sen-ator Hiram Johnson (Rep., Cal.), sponsor of the foreign loans inquiry, today studied testimony already taken, to prepare for framing legislation which he hopes will cure some of the evils di closed The investigation resumes Wednesday. Although bankers and government officials hope for some sort of regulation of foreign issues, they feel the cure might be worse than the disease. Formal approval by an official or private board, in their opinion, might be construed by investors as evidence the issues were sound. The investigation has wandered far afield from the original purpose to show whether “international bankers" were seeking reduction or cancellation of public debts, but it has thrown light on events hitherto hidden. It has revealed that the investing public “holds the bag” for $10,000,000,000 worth of foreign investments. A decade of such transactions has netted the issuing houses and participants an estimated $600,000,000 or more. Disregarded Warnings It also has disclosed that American bankers repeatedly disregarded warnings issued against certain foreign loans by Frank B. Kellogg, foimer secretary of state; S. Parker Gilbert, former reparations agent, and the department of commerce. Some financiers even diregarded adverse reports on South American Issues by their own experts, and mrde the loans in the face of correct predictions the bonds soon would be in default. It is estimated that depreciation and default of foreign issues has cost the American investor about $3,000,000,000. Payments of large fees to obtain the bond business of various countries have been shown, including a $415,000 commission to Juan Leguia, son of the deposed president of Peru. In South America there was keen rivalry for bond issues, with lavish entertainment by bankers’ representatives. At one time, agents for twenty-nine American financial houses struggled for one country’s business. Highways In Desert Although the bankers insisted it was “physically impossible” to see that the loans went for productive purposes, it was testified that much of the money was used to build “highways in a desert.” The bankers deny they seek reduction or cancellation of debts between nations, but they believe “some priority” should be given to the private loans they have floated. One financier said payment of the private obligations was a “sacred” thing, but payment of public debts was a matter of political expediency.” Despite a ten-year supervision of all foreign loans, the testimony has shown that the government adopted almost the same attitude as the bankers. The state department admittedly made no effort to pass on the “business merits” of the loans, and turned down only two for reasons of state.

Athens, Ohio ‘THE HOME Or OHIO UNIVERSITY” 7 RADE CENTER of the Hocking Valley. Complete education course available through free schools. A Live, Progressive City TH^ W W ™ ES

LEADING LOCAL INDUSTRIES Ohio University Ray-do (Stove) Corp. Mcßet* Binder Cos. Southern Ohio Electric Go. Sunday Creek Coal Cos. New York Coal Cos. Ohio Fuel Gas Cos. Athens Cos. Home Telephone Cos. Athena National Bank Bank of Athens, N, B. A. Security Savings Bank Athena Cos, Savings & Loan Cos. Mutual Home Building A Loan First Class Government Post Office Athena Messenger & Herald Prtg. Cos. Law I lead's Press Coca-Coca Bottling Works F. J. Beasley Milling & Grocery Cos. C. l>. Shafer Grocery Cos. Nelsonville Brick Cos. Athens Flooring Cos. Natco Brick A Tile Cos. Logan (O.) Shoe Factory Oil ami Gas Producers Athens County Farm Bureau Cline ice Crvam Cos. Beunetfs Creamery Banks’ Creamery Schloss Mfg. Cos. Rauch Baking Go. Athens- Nelson viile Transportation Cos.

i'HE MESSENGER. ATHENS. OHIO Please send me a copy of your 1932 Business and Financial Review, representing your industries. Name Address ......... ..m................ •..• • #•#••• ••••••

Grew Approved by Japanese as U. S. Envoy

JKKT /S'

Joseph Grew

' ‘ X 'A ■/&&,%?SySS&i jlll

W. C. Forbes

TOKIO, Jan. 18. —The Japanese government has approved the selection of Joseph Grew, present United States ambassador to Turkey, to succeed Ambassador W. Cameron Forbes here. Forbes is anxious to retire and return to the United States as soon as possible. The ambassador submitted Grew’s name to Premier Inukai, and the government, as a matter of routine, asked the Japanese embassy in Turkey for a report on Grew, which is expected to arrive here soon. Grew’s appointment then will be approved by Emperor Hirohito. Grew was born at Boston. His home is at Hancock, N. H. MRS. BINKLEY HEADS COUNTY ORGANIZATION Past Matrons and Patrons Chief Names Committee Leaders. Mrs. Salome Binkley is the new president of Past Matrons and Patrons Association of Marion county. Other officers are: Mrs. Millie Gilmore, first vicepresident; Mrs. Lulu Toon, second vice-president; Mrs. Katherine Richardson, secretary; Lee Harper, treasurer. Mrs. Binkley has appointed Mrs. Jessie Bierce chaplain and the following committee chairmen: Mrs. Millie Gilmore, visiting committee; Mrs. Lola Keenan, hostess; Mrs. Nellie Stammel, finance, and Mrs. Nettie Matthews, information.

MANUFACTURERSAre offered In this locality abundant cheap coal, B. & 0., C. & 0., and N. Y. C. trunk line railways. Cheap natural gas. Good water. Temperate climate. Fine roads. Cheap land. Modern service facilities. Aggressive wholesalers and retailers. An ideal location for factories. THE VACATIONISTWill be Interested in the many geographic points of interest in Southeastern Ohio, the moderate climate, the good shops and friendly people, the service to transients enroute everywhere. THE TOURISTComes to Athens, from either the East or West on The George Washington Highway, U. S. Route 50 Coast-to-Coast, finds national headquarters tor that organization here, good connections North and South. The South East Ohio Motor Club offers every service to A. A. A, members. THE HOME-SEEKER-Wlll be impressed with the splendid family facilities of Athens —complete educational system from kindergarten to post-gradu-ate university, good homes, attractive environment, cheap services, wholesome amusements and steady business conditions. ATHENS HAS- • In short:—All the needed elements for industrial and commercial expansion, a good place to live, low tax rates, accessibility, aggressiveness and willing assistance to new enterprises.

TWO CITY MEN COMMITSUICIDE One Slashes Throat, Other Hangs Himself. Two men took their own lives | Sunday, one by hanging and the j other by slashing his throat. Those who killed themselves are ! Lloyd Pace, 1829 East Thirty-fourth [ street, found dead in his home with throat cut, and William Vincent, 71, of 22 South Holmes avenue, whose body was found hanging from a rafter in a garage in the rear of his home. Pace's body was discovered on the floor of his home by J. J. Nunes, 2040 East Thirty-fourth street, after he saw lights were on in the house and the radio was turned on, he said. Funeral services will be held at 9:30 Tuesday morning at Flanner and Buchanan mortuary. Burial will be in North Salem, Ind. Vincent’s body was discovered by Miss Catheryn Morrison, same address. She began looking for him when he failed to appear for breakfast. She told police Vincent had been despondent over financial matters for several weeks. Funeral services for Vincent will be held at 2 Tuesday afternoon at the J. C. Wilson undertaking establishment, followed by burial in Crown Hill cemetery. Coroner Fred W. Vehling returned suicide verdicts in both cases. Young man! Go nor£h, east, south or west. A good room can be found in tonight’s Want Ads. See classification 17. ONE CENT A DAYPAYS UP TO SIOO A MONTH The Postal Life & Casualty Insurance Cos., 2452 Dierks Building, Kansas City, Mo., is offering a,new accident policy that pays up to SIOO a month for 24 months for disability and $1,000.00 for deaths—costs less than lc a day—s3.so a year. Over 86,000 already have this protection. Men, women and children, ages 10 to 70, eligible. Send no money. Simply send name, address, age, beneficiary’s name and relationship and they will send this policy on 10 days’ FREE inspection. No examination is required. This offer is limited, so write them today.— Advertisement.

The Ultravirus of COLDS must be expelled from within Ultravirus is a type of poisonous ' germ that science has been unable to isolate it gets into the system and spreads rapidly. The outward ! symptoms are but evidence of the inward poisons at work. . ! Isn’t it foolish, then, to waste val- '! uable time treating the symptoms I i when you can eliminate the infec- ; Lon from the system quickly and completely with — J B LAXATIVE ; ROM O : QUININE toon von THIS /T Vu, f. SIGNATURE IP-Z/T < [ Try Lydia E. Pinkhara't Vegetable Compound j Had Splitting Headache Agonizing pain . . . spoils her “dates” and robs her of youth and beauty. By taking Lydia E. Pinkham’s Vegetable Compound Tablets, pains are relieved. —Advertisement. Drunkenness Is a Disease! This FREE Booklet Explains Facts That Every Person Should Know HERE Is an authoritative treatise written on the disease of inebriety and its relief, written especially for the Keeley Institute. It is based on fifty years’ experience, embracing the treatment of more than 400,000 patients, including men and women from all walka of life. It tells you “why” the medical profession recognizes drunkenness as a disease: what famous medical authorities say about the disease of drunkenness... and “bow” drunkenness can be relieved permanently. The booklet is free, and mailed in a plain envelope. Write at once for yonr copy. NOWI Address D. P- Nelson, Secretary BULL CP THAT RPN DOWN SYSTEM WITH KOLOIDAL IRON and COD LIVER OIL EXTRACT TABLETS Sold and Guaranteed AT ALL HAAO UK LG STORES k J , ! f V 1'.",.'. ■ ’ ...“•n. *TO KFV tOS 'V TV,.M.ETa Sc

ALTERATION SPECIALISTS—WE REPAIR RELIVE. REFIT a rAki TAILORING LEON COMPANY 13J East New York StreK

THE INDIANAPOLIS TIMES

r PETTIS 1 4 TH* neUJ YORK VTOR6 • V JANUARY DISPOSAL J SALE A . <# m \mm mm Mgs*'}L ■ ■ M m x

700 Pieces of Exquisite French Crepe Silk Lingerie Reduced to This Low Price for Our January Disposal Sale—tq.47 Slenderizing Silhouette and Perfect Fitting Bias Cut Garments! 11l \ {/ Chemise 7 stepins §| '*''**' Dancettes Costume Slips ] \ Colors: I * Tea Rose Finished with / K3! m dainty laces / / |S. \ \ 1 K ' s *’ t and touches of / i hi k \ i\ jjjf Lido hand embroid- / £ Iflvi \ er y. Wide J 7 Blush range of sizes. Buy a Supply Now at This Marvelous Savings! PETTlS’—second floor.

12-Inch Wide Girdle 14-Inch Wide Girdle $1 Q/i Exceptional TQQ Quality Values W A.*D O Elastic sides. Brocaded, lined. Silk elastic, stays, elastic inMold the figure. sets. Strongly made. Brassieres, elastic back and satin straps, Ea., 39c Corset Sew-ons, silk elastic, 9-in. length. Ea., 10c Warp Saieen Wardrobe Bags, zipper style. Ea., $ 1.49 12-Pocket Shoe Bags, match wardrobe bag. Ea., 49c Women’s Siepins, non-run rayon, 2-tone color, 59c Bush Baskets, two sizes, double handle. Each, 37c PETTlS’—street floor.

AXMINSTER RUGS Clearance Sale of 1 / These Attractive JL X X fespSlpy- Ritgs at — Regular IMMI 6x9-Ft. Size, -e rk 8.3x10.6-Ft. -* s' “ y - 510 * 95 rmer : sl6 ' 75 ? 7.6x9-Ft. Size, -| m 9x12-Ft. Size, ~| A $2/75* y sJ_4*7s U^g rly s±"7s Discontinued Patterns \ Here is an opportunity to purchase fine Axminster Rugs at a big saving—you could furnish the entire home from the choice of sizes. Attractive Oriental patterns and rich colorings. Some of the 9x12 Rugs are slightly irregular. r^ VV 1 V VV\ Yu --PETTlS’—third floor.

Visit Pettis* WKBF Crystal Studio—Fourth Floor = Silk Flat Crepe_^^ Thrifty Women Will / S Buy Many Yards of This at — II ar^ This lovely material is all silk, fully 39 inches wide, an unusually fine quality. Just what you want for new Spring dresses and linings. Rayon Satin Rayon MMjm 39 Inches wide. Fine Flat Crepe JatKa quality. Many new 39 Inches wide. 15 Em shades from which to Beautiful colors from hKsjfMm l choose. Oi which to 07 imßm ar( l OHtC choose. Yard.. Ol C /M Quadrica Prints JuKMmB Regularly 19c yard. 36 -■ mk Inches wide. Fast colors. I {E* JnStßsMl Dark or light grounds. J- V/ v JBmhII Yard. Percale Prints 4 Regularly 12t oc amm yard. 36 Inches wide. J 1 / Good Yard. I /2^-' PETTlS’—street floor. 1 -1

16c Outing Flannel 1,500 Yards to | A L ' Sell for Only— 111 % 1 \ / Yard You’ll want to be here early—for this special __HIBMBB value. 36 Inches wide. Plain colors, stripes, checks and plain white included. Bleached Muslin Outing Flannel Regularly 15c yard. 36 -■ Regularly 12i/ 2 c yard. Inches wide. While II In 27-Inch width. Plain 1,000 yards last. Yard colors and white. Yard. PETTlS—street floor.

Heather Linen Cloths /or ,6.95—//OtV, value in Table Cloths of conventional designs. f Linen Napkins Oilcloth Formerly $5.95 Dozen Formerly 29c Quality Size 21x21 and 45 Inches wide. Plain 2 2x22 inches. white and floral de- ”■ Floral and con- J QGT signs. Re-cover your Ifj ventional designs. tables and shelves.-! —S c Fine quality. Doz. ; Yard. PETTlS’—street floor.

3-Day Sale of Curtains Bringing many special values in both curtains and draperies just in time—so that you may redecorate your home. 425 Pairs Ruffled Curtains French ecru marquisette Cur- f tains. 36 Inches wide with Til extra full ruffles. Pair— y # C | Window Shades Drapery Damask Oil opaque. Tan and 98c Quality. “Nub .1 Bps*.' -a green. 36x72- Weave 50 ! fM Inch size. Ir- Ofk Inches w id e •/T /f 1 regulars; Popular colors. |^ZJh C I—\1 —\\ — 29c and 39c Curtain Materials 2,500 Yards of fine curtaining including 40-inch pv French marquisette, colored, figured grenadine and I / y j others. • PETTlS’—third floor.

Tuesday Only! I \ Covered ■ M ! Baking jj Dishes 1 33c Each g One quart size. Earthenware Casserole in rose, blue, green or yel- Ol - *ow glaze. For oven use. An ex%A traordinarily low price. M| j/fUI PETTlS’—street floor. jj/\ |

PAGE 3