Indianapolis Times, Volume 43, Number 238, Indianapolis, Marion County, 12 February 1932 — Page 12

PAGE 12

F, D. STALNAKER LOAN CHAIRMAN FOR FINANCING Heads Committee Named to Supervise Operations in City. Applications by Indiana banks in the Seventh Federal reserve district for loans from the $2,000,000,000 Reconstruction Finance Corporation will be considered by a loan committee of five bank presidents, all of Indianapolis, it was announced today. Frank D. Stalnaker, president of the Indiana National bank and president of the Indianapolis Clearing House Association, was selected chairman by members of the loan committee Thursday afternoon following word from Washington confirming the appointments. Frenzel Is Treasurer Members of the committee are: Stalnaker, Elmer W. Stout, president of the Fletcher American National bank; Evans Woollen, president of the Fletcher Trust Company; John P. Frenzel Jr., president of the Union Trust Company. Frenzel is treasurer of the loan committee and Harold S. Crass chief examiner of the Indianapolis Clearing House Association, is secretary. The Reconstruction Finance Corporation will displace in Indiana the work recently done by the National Credit Corporation. Liquidation of the credit corporation is expected to take from six months to a year. Loans from the credit corporation will be refunded by loans made by the new finance corporation. Operations Separate Although the Reconstruction finance Corporation will use facilities of federal reserve banks, operation of the two will be kept separate. AH loans made by the new corp- | oration must have the approval of j •state and district committees. Banks of central and northern Indiana will be served through the seventh federal reserve organization with! Howard M. Sims of Chicago, chief ' examiner for the Chicago Clearing I House Assocaition, as chairman for | i econstruction finance corpoartion j activities in this area. Southern Indiana banks will be j served through the St. Louis area! organization.

Ayres’ 4th Floor Underwear Department Moves to the Street Floor! The Downstairs Store “Takes Over” $2,000 Worth of Fine Undies and Will Sell Them In a Huge Clearance for SBOO Because Ayres’ Fourth Floor Underwear Department is consolidating with the street floor department, it finds itself with a huge quantity of higher priced merchandise—and no place to put it! The Downstairs Store has taken it over and will sell it tomorrow at a SMALL FRACTION OF ITS ORIGINAL PRICE! Here’s an example: Fine Knitted Underwear 50c Gorgeous Rayon Pajamas 50c Fine Rayon Combination Suits ... 50c Better Balbriggan Pajamas 39c Sale Starts at 9 SATURDAY MORNING Downstairs at Ayres

Finance Head

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Frank D. Stalnaker

Burglar Hooks Purse in Home A “hook” burglar snared a purse containing $45 from the home of L. A. Fleury, 1020 Central avenue, Thursday night, detectives were informed

COLDS The cold germs ( uliratirus ) are in the air . . . you breathe them into the system ... they multiply rapidly ... then you begin to feel the distressing symptoms. That’s why cold infection must be destroyed and expelled from uithin. Take a few Bromo Quinine tablets promptly. Proved safe and effective by millions of people all over the world. Blaxative ROMO QUININE lOOK FOR THIS £, SIGNATURE

WHAT A GIRL MEET “CONNIE” SEE Q PAGE O

DAWES PUSHES CREDIT RELIEF Urges House Committee to Speed Legislation. Bv United Pren* WASHINGTON, Feb. 12.—President Charles G. Dawes of the reconstrution finance corporation today went before a secret session of

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THE INDIANAPOLIS TIMES

the house banking and currency committee to speed the administration's new measure to liberalize federal reserve credit facilities. The committee heard Dawes in excessive session on the new bill to extend federal reserve rediscount privileges to a larger class of collateral and thus provide additional credit and if necessary more currency. When Dawes Was told that reporters were present, he shrugged his shoulders and threw out his hands in a very meaning gesture. “No, no,” he .said. Chairman Steagall then told the

newspaper men they would have to retire. The committee plans to act promptly and probably will bring the bill before the house next week.

A _ Hurry to Kay’s Tomorrow and Cash in on That Old Watch MTRADEINIf M SALE I f ~ Bm Bring along any old watch (regardless of its present ‘ n condition) and receive a trade-in allow ance that on!> resources; the 10 coast-to-ceast Kay stores jtt can offer. Never Before—Perhaps Never f \ Again a Sale Like This! IHQiBSiEEQQQIHji No Money Down —Your Old Watch Is Your Down Payment ' Then Pay Just a Little Each Week! ‘ Allowed I Men’s 15-Jewel Watch I Your £° r "VW Complete With Link Band ° ld Watch oid Watch cn A Anp __ V'X/ ' VTv Choice of the newest MBk mm /) >*lll h|J 5 37- 50 “ £ ed models - Ful,y $ If jK.SO zy Full Value Allowed for if mSMb 50c a Pay 50c a Weekl Pay 75c a Week! ™ Your Old Watch Week! ||' , |g"j Full bracelet. Full Value Ladies’ “ELGIN" Watch ll0 v ed Complete With Link Band JLttjgP Allowed for Your mm for Your Old Watch Dainty accurate and de- A s&gSr Old. Watch m, \ pendable. Trade tomor- yk MS a ■ $ 24- 75 m *lX'* M $ 37- 50 " Your Old Watch Jg® Week! /tW ** m Pay 50c a Week! - ——... %// Pay 75c a Week! UagLifi. ... -LIFETIME JEWELRY" ... Cm. Dlrertlv Opposite Indiana Theatre " Full Value Allowed AMERICA* LARGEST CREDIT JEWELRY ORGANIZATION for Your Old Clock!

To Open 200 — New Accounts —A Gorgeous R^M^^TINBE^ETr rp, , , j , . v 3 beautiful shades Rose, Green Through our tremendous buying power, we are notice: and Go ld. Both pillow and ’ spread able to offer you these gorgeous satin rayon are of satin-finished rayon. The Bed Spread Sets at an amazingly low price. season’s most sensational value! Make your selection early! oTcr: Dont miss it! THE HUB FURNITURE CO. 414 EAST WASHINGTON STREET -^ETISrsSE"

SIO,OOO Death Suit Filed FRANKFORT. Ind., Feb, 12Suit for SIO,OOO damages has been filed in Clinton circuit court here by Roy Amyx of Manson, as & re-

sult of the death of his daughter Verna, 16, in an explosion and fire at the family home May 24 last. Defendants are the Sinclair Refining Company and Jesse Durkin,

PEB. 12, 1932

Manson merchant. It is alleged that gasoline, naptha or some other explosive liquid was sold instead of kerosene. The girl was killed as she started a fire with the liquid.