Indianapolis Times, Volume 43, Number 255, Indianapolis, Marion County, 3 March 1932 — Page 2

PAGE 2

LIQUIDATION OF FARMERS BANK WILL BE SLOW ‘Frozen’ Realty Comprises Bulk of Assets, Says Receiver’s Report. Real estate forced upon It by rejected mortgage loans comprised the bulk of assets of the Farmers’ Trust Company, when It was placed in receivership in May, 1931, Boyd M. Ralston, receiver, disclosed in a report today to Superior Judge Clarence E. Weir. Asserting liquidation of real assets "necessarily must be slow because of the general condition of the real estate market.” Ralston said practically all the book value assets of the institution consist of real estate. Analysis of the assets in January revealed that of a total of "1,425,184.07 book value assets, sl,"45,488 consists of real property, ' aluo of which depends on market conditions. Assets Appraised at $569,300 Unliquidated assets now in the receiver’s hands have a total appraised value of $569,300, more than "670,000 less than the valuation carried on the books at the time the doors were closed, Ralston said. ‘‘When the receiver took charge, he found that the bulk of its assets was made up of property which the trust company had acquired during the course of a number of years as a result of its having to take back, from insurance companies, mortgage loans which had been rejected by the insurance companies,” Ralston said. The loans and real estate assets are located in Indiana, Illinois, Ohio and Missouri and are so widely scattered that appointment of ancillary receivers probably will be necessary, he said. Liquidation Seen Slow "Handling and liquidating of these properties, therefore necessarily will require considerably inore than the ordinary work and time and conversion of assets will be slow,” Ralston stated in the report. Furniture and fixtures of the company were valued on the company’s books at $150,000 but these were “worth less than. carried on the books,” Ralston said. He disclosed that preferred claims totaling $407,206 have been filed with the receiver. Weir today said hearings will be held March 21, 22, and 23 on preferred claims. Real Estate Is “Frozen” ‘ Administration of this trust from now on, and the liquidation of remaining assets depend largely on the general cpndition of the real estate market, because practically all remaining assets consist either of real estate or securities depending on their value on real estate,” Ralston reported. "So far during the operation of this receivership, it has been practically impossible to dispose of real estate. Under such conditions, the process of converting these assets into cash must necessarily be slow.”

I fl 4 B 11 Be Among the First to Share 'M wk 5jS 1 It in These Values When the * The New York Store Store Opens at 9A. M. BANKRUPT SALE Offers You Unusual Styles and Quality at Astounding Price Values! Take advantage of the countless opportunities offered you in this dramatic sale! This store holds tremendous assortments of quality merchandise—and all of it MUST BE SOLD—we’ve pared the price of all items in every department—enabling you to save many dollars on your personal and household needs! Deliveries and C. 0. D/s Permitted! ALL SALES HNAL CO-OPERATION GIVEN new merchandise f> /V T 9 r 7 J_ f Certain leased departments in Specially selected new Spring IVO jfY emtlllS • IVO JIUjXC iXCLt\S[@S I tlie Petti# store are not in hank- merchandise and other desirable _ ruptcy and they are all co-oper- lines are being added each day fIK ■ ■ JH ■ ■ ating in this great sale by slash- to the present Pettis’ stocks in jf f| ■ I 4%. Jj M It ing prices on their merchandise this bankrupt sale to make selecmm Lb mam mm ILn Ln mjf SHB. gg| and featuring surprising values. tions and prices attractive.

Mother Fights to Free Killer of Sweetheart

ESP? *

Helen Jay Morgan and her mother, Mrs. Carrie P. Morgan. This picture was snapped during the murder trial of the heiress.

Appeal to High Court to Be Taken for Girl in Michigian. J By Untied Press CHICAGO, March 3.—Mrs. Carrie : P. Morgan, 68, mother of Helen Joy j Morgan, Flint (Mich.) heiress, who was convicted of killing her sweetheart, plans anew effort to free her daughter. * Mrs. Morgan announced she has I retained Barrett O'Hara, Chicago ; attorney, to take an appeal to the | Michigan supreme court. Miss Morgan was sentenced to j twenty to twenty-five years in the Detroit house of correction when i convicted of killing Leslie Casteel. BORINSTEIN TO CAPITAL Chamber of Commerce President Will Confer With Hoover. L. J. Borinstein, president of the Chamber of Commerce, will meet with President Hoover at the White House next Wednesday with leaders of the scrap iron industry to discuss conservation of iron ore and other natural resources. The conference will be held in connection with the annual convention of the Institute of Scrap Iron and Steel to be held in Washington next week.

NEW YORK KEEN TO HASTEN END OF LAMEDUCKS Legislature Awaits Formal Word of Congress Action Before Ratifying. BY RUTH FINNEY Times Staff Correspondent WASHINGTON, March 3 -Governor Franklin D. Roosevelt seeks for the state of New York the honor of being first to ratify the Norris lame duck amendment to the Constitution. According to word received here today by Senator Robert F. Wagner, Roosevelt wil ask the New York legislature to take action as soon as he is notified officially by the state department that the amendment has been approved by congress. This notification is being sent Thursday, and should arrive in New York in time to allow action before the legislature adjourns March 11. A number of other legislatures no ware in session, and may take action on the amendment at once. Among them are Kentucky, Louisiana, New Jersey, Mississippi, Massachusetts, Virginia, South Carolina, Illinois, Rhode Island and Connecticut. It is possible that some of these will race with New York for the honor of being first to approve the amendment. Elimination in conference of the house provision, requiring that ratification should take place only by legislatures of which one house had been elected since submission of the amendment, greatly will expedite progress of the lame duck amendment toward a place in the Constitution. Next January, forty-four legis-

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THE INDIANAPOLIS TIMES

latures will be in session, and there is every prospect that thirty-six ratifications will be secured before their adjournment. When threefourths of the states have ratified, the amendment will become the twentieth amendment to the Constitution. SPEED ON LABOR BILL Anti-Injunction Measure Is Reported by House-Committee. By United Press WASHINGTON, March 3. The house judiciary committee late Wednesday reported favorably the Norris-La Guardia anti-injunction bill in virtually the same form in which it passed the senate Tuesday. Early action in the house was forecast.

♦ Vibrant Energy ♦ From Eating Fresh Yeast * Makes Life Worth Living * No Trouble Here! ♦ ft, ■ CopTTlcht, if 33. Sund.rd Brand. taeoractaUdl Make <LtPEP'last ALL DAY! thmßs - evemnfis Here’s the way thousands do it! Three times You,u have a bcttcr appetite, a dearer of rollicking tun. J skin, less tendency to headaches and Wouldn’t you like to boast the vitality a ~ . before each meal .. . thdy eat a cake of “nerves.” And-best of all—you’ll again that makes such vibrant living possible? J J feel like doing things . . . your early Wouldn’t you like the radiant complex- Fleischmann’s fresh morning energy will last all day! ion, the overflowing energy that make \ CM 1 You can stet Flcischmann . s Yeastlife really worth while? . • rich in vitamins B, G and D-at grocers; * * * from which to draw its nutrient supply! purifies. Eaten regularly, it revives energy restaurants, soda fountains everywhere. Doctors estimate that nine out of ten Thus, dangerous poisons form .. . are in a perfectly natural way." Try it today! people who miss perfect health do so be- fed into your blood. You feel listless, irri- There—in the words of famous physi- * * * cause of one commonplace evil .. . con- table. Headaches and frequent colds cians—is the secret of Fleischmann’s . , stipation! occur. And as time goes on, you tire more Yeast! Isn’t it time you discovered what T I**po*t*ht Fletschmanns > east for Does that surprise you? Here’s the easily—feel less energetic than before. it will do for you? § e ° comes on yin t e sot urappe reason it is true. Isn tit strange that so many people So add it to your regular diet-3 cakes iabeU j t > s yeast in itt Your body absorbs its daily nourish- endure this condition, when doctors all a day—just plain, or in milk, or in a third >j- , f res h, effective form—ment from your intestinal tract. But s °y we can correct it so easily, today ? of a glass of water—before meals, or be- 'j&jM the hind that famous when intestines grow weak and sluggish “A food, fresh yeast has the remarkable tween meals and at bedtime. I doctors recommend . —when food residues accumulate there— power to ‘tone’ and stimulate sluggish Keep this up for a month two Ask for Fleischmann’s your system has only waste material intestines. It fosters digestive secretions, months. Then check up! by name! Not a Cure-all”.Fletschmanns Yeast is a health food thousands eat —3 cakes a day

SLUMP IN GAS TAXFORESEEN Many Autos, Lacking New Tags, Are in Disuse. Thousands of automobiles throughout Indiana were interned today because their owners haven’t the cash to purchase 1932 license plates. Result of this retiring of motorists j already is reflected in the license j returns and it is estimated it will! make the gas tax revenues decrease j for the first time since their incep- j tion. James Carpenter, chief of the i

automcfci*2 license bureau at the statehouse, said 65,613 touring cars have been registered there as compared with 86,791 on March 1 of last year. This registration drop is expected to be reflected throughout the state generally, he predicted. In 1931 there were some 800,000 motor vehicles of all types registered in Indiana. Many pleas have been made to Frank Mayr Jr., secretary of state,

Riding Equipment COMPLETE LINE SPORTING GOODS JACOBS OUTDOOR SHOP 15 N. PENN.

to extend the purchase time. But a two-month extension already having been granted, arrests by state and local police began today. Carpenter said he has had many

Large, Red Pimples on Face and Back. Healed by Cuticura. “For about six years I was troubled with pimples that started on my face and later spread to my back. The pimples were large and red and festered. They itched, causing me to scratch, and when I did the pimples would scale over. The irritation kept me from sleeping. “I began using Cuticura Soap and Ointment and could see that they were clearing my face. I continued the treatment and after using three cakes of Cuticura Soap and about four boxes of Cuticura Ointment I was completely healed.” (Signed) F. M. Mendenhall, 1337 Getter Ave., Dayton, Ohio. Soap 25c. Ointment 25 and 50c. Talcum 2Sc. Sold everywhere. Sample each free. Address: "Cuticura Laboratories, Dept. H. Malden. Maw."

-MARCH 3, 1932

sorrowful pleas from poor persons, some of whom have been making enough to eat by trucking and now are unable to buy new plates for their second-hand trucks.