Indianapolis Times, Volume 43, Number 297, Indianapolis, Marion County, 21 April 1932 — Page 9

Second Section

THIRD SET OF FIGURES FILED BY LIGHT CO. New Utility Report Adds to Confusion in Fight Over Rates. REVENUE DROP SHOWN Commission Given Revised Picture of Company’s Business. BY DANIEL M. KIDNEY Belated filing oi the 1931 report of the Indianapolis Power and Light Company today gave anew set of figures differing from either those used by Commissioner Harry K. Cuthbertson in the city rate case or by the company in its stock promotion prospectus. The annual report, which was due March 15. but was filed late on Wednesday, shows a total revenue for 1931 of $10,102,933.45. which inrludes both operating and nonoperating revenues. This is a drop of $354,523.84 from the total revenues for 1930, as filed with the commission. The stock prospectus of the company gave the gross revenue up to Kpt. 30, 1931. as $10,330,576, which would mean that but nine months of the year were set out at a greater figure than the grand total as of Dec. 31. 1931. Figures In Conflict Then there are other figures found by Cuthbertson. He, claimed, when he dismissed a city and citizens’ petition for rate reduction, that, the twelvp-month gross for 1931 was $9,957,776.83. Because of the difference in the company's and Cuthbertson’s figures, the case was reopened and a compromise reached, cutting the first fifty-kilowatt consumption one fourth of 1 cent a k. wu h., the nrw rate being 6Vi cents. The city electric bill was cut $66,000 and rural and suburban consumers were put on a parity with city consumers, except for the monthly minimum charge, which is 80 cents in the city and $1 in the country. Today's figures provide anew picture of the company, differing somewhat from either that painted in its prospectus for stock promotion or by Cuthbertson.

riant Value Boosted The figures show that, with business falling off, the plant value was Increased on the company books to anew high of $71,457,724.47, a boost of $14,060,631.70 over the valuation t the beginning of 1931. This is accounted for by the new Harding street plant. The report sets out that plant and property, on Dec. 31, 1930, were valued at $57,397,092.77. During 1931. additions of $865,646.28 were made and $13,194,985.42 added for "work in progress.” Since the close of the year, the Harding street plant has been put into operation and would be presented as an asset in any ratemaking valuation based on used and useful properties. Blame Might Hit Commission One of the argfments of those seeking reductions was that the new plant was not needed and was built largely for the sale of securities and to arid to the property for rate-making purposes, thus keeping the high rates, with threat of raising them highea Should such contentions prove sound, the blame would lie directly on the public service commission, which authorized the expansion and securities sale and never has made a fair valuation of company properties upon which rates should be based. ' On Aug. 8. 1930, the commission authorized the company to sell $2,500.000 worth of preferred stock at not less than 93 per cent par value and authorized further issuance of 1,600,000 shares of no par value common stock. Increased dividend payments, with decreasing revenues, have shrunk the company surplus to $567,006.12 at the beginning of this year the report shows. Surplus Goes Down The company began 1930 with a surplus of $957,273.01 and 1931 with $924,895.27. This shrinkage might have been absorbed somewhat by buying coal at a lower price from some company other than the one owned by the same holding company. For the report shows that the contract to buy coal from United Collieries, Inc., resulted in paying an average of $2.6337 a ton for more thah 379.721 tons delivered. The coal is ordinary Indiana mine run and screenings. Electric revenues for the company for 1931 are set out at $9,117,088.41 nnd heating revenues at $784,853.79, making a total revenue from operating of $9,901,942.20. This is a drop of $367,980.02 from 1930. Nonoperating revenues, rent and the like, increased from $187,535.07 in 1933 to $200,991.85 in 1931. Net of $937,556 After deducting $1,095,552.86 for taxes and $2,024,229.53 for depreciation reserve, the gross revenue for 1931 amounted to $2,555,288.10. • Interest on funded and floating debt, reserve and miscellaneous took from this amount $1,617,731.81, leaving a net of $937,556.29. Preferred dividend payments amounted to $780,000 and 70 cents a share was paid on 750.000 shares of no par value common stock, amounting to $525,000, the report stated. In 1930, a 90-cent dividend was paid on 600,000 shares of common stock. Total dividend payments were $1,305,000 in 1931, putting the company in the red $367,443.71 and cutting down the surplus. In 1930 the deficit was listed at $162,373.47. Audubon Parley Is Set Thirty-fourth annual meeting of the Indiana Audubon Society will be held May 13 and 14 In Crawfordsville, Dr. Earl Brooks of Noblesvllle, president, said today.

Fall Leaned Wire Service of the Catted Pm*, Aoeorlatfot

SAM INSULL RISES AND FALLS LIKE METEOR

Crash of Utility Magnate Is Most Colossal in History of America

Thii Is th* first of two stories on the. rise and fall of Samael Insall, America's foremost ooblio utilitr magnate, whose *2.MM,l¥W.fton Middle West Utilities Comnsne is In hands of receiver*. BY JOHN W.. LOVE 'Cooorisht. 1932- NEA Service. Inc.l A T 72, Samuel Insull of Chi--^-cago— foremost figure In Ameri- , can public utilities—looks back today on his long rise and sudden fall. His is an amazing story of finance, climaxed by the '‘friendly" receivership of his giant Middle West Utilities Company, once worth $2,500,000,000. It Is the largest business default in the world's history. Insull began life as a poor immigrant from England. He became Thomas A. Edison’s secretary and grew up with the light and power business. * At the peak of his career he came to command more than $3,000,000,000 worth of electric power and gas enterprises, electric railways, steam railways, coal mines, street car lines, elevated railways, taxicab arid bus lines, heating plants, ice plants and office buildings. The multitude of companies he dominated operated over practically the entire eastern half of the United States. They servpd at least 10,000.000 persons in more than 5.000 communities. and had around a halfmillion stockholders, many of whom were customers. From Maine to Texas, the chain of Insull industries extended. The bulk of all this was in Middle West Utilities, the biggest of the Insull holding companies. Properties of his other holding companies largely were grouped in and around Chicago. it St tragedy of the great Middle West Utilities failure, ten times bigger than the Kreuger collapse in Europe, is fundamentally the same as the tragedy of the foreclosure of a small farm, only bigger and more complicated. Prices went down, but debts remained the same and mortgages went on as before revenues declined, but loans had to be paid off in the same hard dollars with which they were contracted. Samuel Insull found himself no i longer able to raise enough from I his high-tension empire of electric I

BRITAIN ALLAYS WAR DEBT FEAR No Idea of Repudiation in Budget Omission. BY HENRY T. RUSSELL United Pres* Staff Correspondent LONDON, April 21.—Great Britain will not repudiate her war debts to the United States, sources close to the government told the United Press today, despite apparent agreement of all parties that she should wipe the war debt and reparations slate clean as the only solution of the world crisis. The agreement of British political parties on this issue became apparent during Wednesday’s eight-hour debate on the budget in the house of commons. Laborites, Conservatives and Liberals urged the government to take a "courageous lead” to cancel debts and reparations. Chancellor of the Exchequer Neville Chamberlain did not mention war debts in a radio address explaining the budget. He did pay tribute to the grit of the British people and their willingness to bear their heavy tax burden. Well-informed, semi-official quarters told the United Press that the failure of the chancellor to include provisions for debt payments and reparations receipts in the budget simply was due to the fact that Britain's next payments to the United States are entirely covered by European nations’ payments to Britain. FLASHLIGHT BURGLAR IS FORMER CONVICT Fingerprints on File at. CapitoT Bureau Establish Identity. Identity of a Negro slain early Saturday after he entered the home of Rudolph Grosskopf, 4847 Carrollton avenue, was established Wednesday by the federal bureau of criminal identification at Washington, where fingerprints showed the victim was Howard Reed, 'an ex-convict. According to a telegram from John Edgar Hoover, director of the bureau, to local police, the Negro had served two terms for burglary, one In Ohio, the other in Michigan. Reed, known as the "flashlight burglar,” is believed to have entered six homes last week. Grosskopf fired seven shots in his home, one of which struck the Negro in the left side and penetrated the heart.

‘EASY MONEY’ LURE AND DESIRE FOR THRILLS LEAD TO CRIME, SAY CITY COPS

BY FRED HEDGES. “OTICK 'em up!” Hard eyes and a leering mouth emphasize the command as a nervous finger trembles on the trigger of a revolver. “Now gimme your dough." The bandit’s heart beats faster. He glances furtively on all sides. He is alert to the slightest movement of his victim. “Get away from here.” With bravado of an experienced gunman, a youthful bandit, “pulling” his first stickup, weaves his revolver menacingly. “And don’t look back,” he commands. Thus some errant- youth has committed his first robbery, and

The Indianapolis Times

current to meet the interest on the mortgages. And so the vast agglomeration of 100 or more operatiing companies | known as Middle West Utilities coli lapsed. This holding company, and sev- ! eral related companies, are ih the hands of the courts. The Middle West Company’s producing properties are mainly still sound. Where operating companies do not owe too much money, their j future is secure. The fate of each will depend upon what each can earn and how far these earnings will go in paying debts. Os course it is impossible to make any general statements about the future of the more than one hundred companies gathered by Insull into the fold of his Middle West Utilities. The holding company which united them all under one general management will be taken apart. But It is practically certain that the constituent properties will be regrouped. In wavs not yet clear. n h tt A LL this takes place on pieces of paper. The generators in Middle West’s 300 steam-driven stations and 300-water power stations will keep on grinding out current. They are not affected in any physical way by the collapse of all the financiering which brought them together. Part of the tragedy of the receivership is the nature of the company’s territory. Middle West Utilities was one of the greatest American power systems, yet it sold the output mostly to small towns and the countryside. There were only a half dozen large cities on its lines. That meant two things. In the first place, it meant that its business would be affected by farming conditions. In the second place it meant that its securities would be very widely held, and that the market for its securities would be reduced greatly when the prices of farm products went down. It happened that Insulls company needed money very badly just at the time when thousands of

PROHIBITION VOTE URGED BY MYERS

Meet Problem in Honest Way, Appeal Made by Senate Candidate. By Times Special ANDERSON, April 21.—Referendum on repeal of the prohibition law was proposed by Walter Myers, candidate for the Democratic senatorial nomination, in an address here Wednesday night. "There are two ways of meeting the question of prohibition,” declared Myers. "One is to go on obliviously, as we are doing now and to refuse to admit that a mistake may have been made under the nervous stress and strain of war, when four and one-half million men were away in the army. "We can continue spending millions of the taxpayers’ money for enforcement that does not enforce and, at the same time, perhaps, lose a billion in taxes that could be collected easily and without protest. "This is the cowardly and dishonest way of meeting the question. “The other way is to repeal the amendment, if it has failed and put something better in its place. We can restore to each state the police powers taken from it and permit its people to retain prohibition, if they want it. This is the honest, manly, and straightforward way of meeting the question. "I stand where I have always stood. I favor the honest way of meeting the issue by letting the people decide, whether they want prohibition or not. "Personally, I am so strong an advocate of temperance that I do not believe in being intemperate, even in behalf of temperance.”

STATE ASKS RECEIVER Insurance Commissioner Asks Ancillary Action by Court. Petition for appointment of an ancillary receiver for the InterSouthern Life Insurance Company, Louisville, filed by John C. Kidd, state Insurance commissioner, was pending today in federal court. The petition sets out that the company was held insolvent by the northern Illinois district federal court and a receiver named April 18. Kidd asks appointment of a receiver here to conserve the company's assets in this federal district. The company has policies on Indiana residents valued at approximately $15,000,000, the suit states. *

police begin dogging his trail. After the first “job” it is a game of hide-and-seek with the "law,” and the embryo murderer, hunted as he is, gets a thrill from it.

This is the opinion of veteran policemen who have “seen them

INDIANAPOLIS, THURSDAY, APRIL, 21, 1932

I small towns were needing money badly, too. Middle West Utilities was reported owing bankers $30,000,000 or more at the beginning of 1932, and Insull saw there was no hope of getting I the money by selling securities, as he always had done. Insull tried desperately to find i the money in New York, but could not. Returning sadly to Chicago, he watched the courts administer the first aid which the law provides for j stricken enterprises. * a a r T''HIS was the Samuel Insull whose career had been marvelous as an Alger story. One person in every ten used his services, including every person in Chicago. He was the wealthiest in the business. He had come to this country from England as a young man In 1881. He had held a number of jobs in London, studying stenography nights, and had happened to answer an advertisement for secretary from a man who turned out to be Thomas A. Edison’s London representative. It was only natural that, shortly afterward, Insull should come to America. Soon Edison's business manager. Insull had unequaled view of the beginnings of the electric light and power industry close up. Presently he took a hand himself. In the year of the world* fair he became president of the company now known as Commonwealth Edison, In Chicago. This ruddy-faced, tireless young man saw that the road to efficiency for the producers of power and a fortune for its owners lay in consolidation. He soon brought the power business of Chicago into unity —lnsull unity. n n tt THE beginnings of interconnected electric power, and, therefore. the beginnings of the epic of Insull in American life, were in 1919, when Insull and his brother Martin bought some rural properties north of Chicago. They acquired a. dozen isolated power stations, scrapped most of them and connected the towns with high-tension lines. This gave each town the potent

Fare Enough By United Press NEW YORK, April 21. Gotham’s fire fans paid a nickel a head to watch one Wednesday night. They dropped their nickels in the Bleecker street turnstiles of the Sixth avenue elevated to watch fire crews on the ’’L" tracks play high pressure hose on the blaze.

GOOSEY LEE IS HERO Saves Life of Prisoner in Suicide Attempt. Harry (Goosey) Lee, Negro politician and convicted liquor law violator, was credited today with saving the life of a county jail prisoner who attempted suicide late Wednesday. The prisoner, Karl Marsh, 51, of 427 South East street, facing trial on charges of vagrancy and contributing to the delinquency of a minor, is in a serious condition at city hospital, after slashing his throat. City prison attache had transferred Marsh to the county jail from the city prison Wednesday afternoon. As Marsh stood in line in the jail office, he drew a knife from his pocket and slashed his throat three times. Lee, a trusty, serving a term received in federal court, was standing nearby. He leaped toward Marsh and seized his arm, wresting the knife from the man's grip. •OLDEST PHYSICIAN’ DIES Connecticut Doctor, 92, Practiced Until Death in Night. By United Press FAIRFIELD. Conn., April 21. —Dr. Martin Van Buren Dunham, believed at 92, to be the oldest practicing physician in the United States, died in his sleep during the night. Had practiced medicine here tor sixty-two years. Held After Booze Raid Schuyler Marshall, 1617 North Alabama street, faces trial today on a blind tiger charge after police squads raided his home Wednesday, asserting they seized four gallons of alcohol, two gallons of colored whisky and eight quarts of home brew. Six persons said to have been drinking as the raid was staged were not arrested.

come and go” and have heard the stories of hundreds of youthful bandits who have been caught. u v a TN a story written the day before his death, Edgar Wallace, mystery story writer deluxe, declared he believed 70 per cent of crime is due to the desire to “show off.’’ “It is not only the cause of a great deal of petty crime, but also is the reason for many major crimes,” Mr. Wallace wrote. But veterans of the Indianapolis police department disagree with Mr. Wallace. “They do it for easy money, for the thrill of it. They don't care about the hero* part of it,” local officers said.

Ti omiow'i ~ ' I lsi jy§t t mw> •. *• >1 IBP?' .AS PIPE i' P j P '" A "* a9 W PLANT* I V’LiS NTS NA.NL 5 MILLION HCQSEPOWO? ELECTRIC^"

SAMUEL INSULL AND HIS $3,000,000,000 INDUSTRIAL EMPIRE. The shaded areas in the above map show territories in which the producing units of the great Insull holding companies operate, their many diversified utilities serving nearly one of every

tial of very much larger stations and assured them against power failure. Insull applied the policy which made him famous later—that of setting rates which did not quickly pay back the cost of installing the service, but which encouraged the customer to buy more and more electrical appliances, until finally

D. A. R, TO STEP MORESOFTLY Less Sensational Policy on Education Adopted. By United Press WASHINGTON, April 21.—The Daughters of the American Revolution were reported today to be embarking on a more conservative policy emphasizing educational measures in behalf *of patriotism and minimizing more sensational activities which have been criticised. As an initial step in this program. the incoming president-gen-eral, Mrs. William Russell Magna of Holyoke. Mass., Is said to have Indicated that she would not reappoint Mrs. William Sherman Walker of Washington state as chairman of D. A. R.*s important committee on national defense. Mrs. Magna and an unopposed slate ol new national officers will be formally elected tonight. The D. A. R. has given every indication that it will continue to work actively for immigration restriction and preparedness. But the measures taken to advance these causes are expected to be less sensational than those undertaken by Mrs. Walker.

IMMEDIATE PAYMENT OF BONUS FAVORED National United Veterans Call for Congress Action. "We favor immediate payment of the bonus,” Edward G, Schaub, commander of the National United American Veterans, said today. “The payment, at once, of the bonus is an absolute necessity.” The gi oup, with membership in Indiana and various other states, has held several meetings recently for organization purposes. At a meeting Tuesday night at the Garfield park community house Municipal Judge Thomas E. Garvin was one of the speakers. "The government can operate on 40 per cent of the gold standard,” Schaub stated. "We now have 73 per cent and the government can pay the bonus without danger of financial difficulties and without affecting the gold standard of the nation.” Shortest Railway to Die By United Press LiNCOLN, Neb.. April 21.—One of the shortest railroads in the world—seven blocks long—ls ready to go out of business. The line, built to carry material to the new State Capitol building, Is owned by the state.

"They get the idea that they want some easy money, and they figure stickups are the smoothest way to get it,” Captain Edward Helm declared. “Then, after they pulled their first job, they get scared. That’s when they give themselves away and are caught,” Helm said. # tt M “npHEY do a stretch in prison A and get out on parole. Imprisonment hasn’t done them a whole lot of good. There's the start of a criminal.” “Most of them just have a craving for excitement. Some of them probably want to appear to be heroes, but mighty few,’ Sergeant Charles Weddle said. J But Captain John Mullin has ,

ten persons in the United States. The sketches below show some of the principal activities. By far the most of these operating companies (Chicago’s elevated railways excepted) are in Insult's $2,500,000,000 Middle West Utilities, a holding company now in the hands of receivers. At the right is a closeup of Insull who welded the vast chain.

electric current was indispensable to every customer. Insull was a pioneer in the movement to decentralize industry by making ample power available for factories in small towns, Instead of concentrating it in the big cities. It was his aim, apparently, to connect all his widely scattered power companies into one great su-

WIRES TAPPED ON LINDBERGH ESTATE

‘Listening In’ Results in Placing of Patrol Around Grounds. By United Press HOPEWELL, N. J.. April 21. Search for Charles Augustus Lindbergh Jr. was confined today to routine police, investigation, with private negotiators reported inactive. Indications of wire-tapping on telephone lines leading to the Sourland mountain estate of Colonel Charles A. Lindbergh led today to New Jersey state police establishing a patrol. Eavesdroppers find it easy to listen in, as the wires are laid on the ground. Colonel H. Norman Schwarzkopf, state police head, Wednesday night was reported to have ordered two sub-machine guns sent to the Newark airport. This immediately gave rise to rumors that the arms were to be used in the kidnaping case, to prevent hijacking. Schwartzkopf later issued a statement saying the report had no connection with the Lindbergh kidnaping. Another report concerned a mysterious automobile which watchers observed entering the estate after nightfall. Efforts to check the car’s New York license number gave rise to the rumor that it belonged to Owney Madden, racketeer. John F. Condon. “Jafsie,” who paid $50,000 ransom to the supposed kidnapers, gave no indication by his actions that he was making progress in his private negotiations to return the baby. Lindy’s Visitor Here Secrecy today surrounded visit here Wednesday afternoon of a woman traveling in a large red monoplane, who became involved in the Lindbergh kidnaping case Tuesday. The monoplane, a Cessna, piloted by Otto Ferguson of Kansas City, Mo., landed at municipal airport for refueling and to obtain a weather report. The woman refused to alight and declined to answer questions of reporters. She appeared Tuesday in Hopewell, N. J., the home of the Lindberghs, but reason tor her visit was not disclosed. Reports that a green Essex automobile, bearing Missouri license plates 564-395, containing three men and a baby, left Kansas City at Bbout the same time as the woman, wera being Investigated today by police here.

a different Idea. "They're just ‘natural bom’ criminals, they can’t help it, Mullin said. Chief Mike Morrissey agrees,

in part, with Mr. Wallace. "Many of them want to appear

Second Section

Entered in Second•<!!* Welter at Poatoffice. Indian-poll*

perpower chain at some future date. Next: How Insull financed his great Middle West Utilities Company with holding companies on top of holding companies . . . The story of how a $2,500,000,006 concern was built up relatively in a few years.

Gold ‘Strike’ By United Press CHICAGO, April 21.—Wilson A. Smith Jr. was jailed for delinquent alimony payments when his divorced wife told Judge Harry Miller she had been forced to sell gold inlays from her teeth to support her 2-year-old daughter.

CANDIDATES SPEAK Sumner’s Safety Drive Is Cited at Rally. Candidates for Democratic nominations for county offices in the primary, and their representatives spoke at a Ninth Ward rally Wednesday night in the Sherman Inn, Sherman drive and New York street. Miss Julia Landers, speaking in behalf of the candidacy of Sheriff Charles (Buck) Sumner, declared that the mothers of 12,000 school children in the county have appreciated the accident prevention and safety work conducted under his direction. Others who spoke were: Chaltner Schlosser. candidate for circuit court judge: Dr. William H. Larvabee, of New Palestine, candidate for re-elec-tion to congress; Timothy P. Sexton, candidate for the renomination for county treasurer; John Linder in behalf of Earl H Cox for Circuit court judge. James E. Deerv for the same office. Andrew J. Blueher, Leonard A. Hohlt and Louis Wolverton for sheriff. Prank J. McCarthy and Frank B. Blackman for congress. Dr. E. R. Wilson in behalf of Dr. William E. Arbuckle for coroner and Dr. Robert Dwyer for the same office. Patrick J. Delaney and James A. Kregelo for county commissioner, Second district; Christ Hoffman, W. J. Rolles and Dow W. Vorhies, county commissioner. Third district. SEEKS~ZONING mandate Edgar Frybarger Demands Permit for Filling Station. Seeking a writ ordering the city zoning board to permit erection of a filling station at the southwest comer of Central avenue and Thir-ty-eighth street, Edgar L. Frybarger had filed suit today in circuit court. Adjoining property owners recently were upheld by the zoning board after they testified they purchased real estate from Frybarger after he promised not to use the comer lot for business purposes for a period of twenty years.

heroes in the eyes of friends. It's true, especially of these bandits of high school age these days,” Morrissey said. “As they grow older and serve prison terms, .they still have the desire to show off, if not to friends, to keep a “reputation’ in gang circles,” he stated. * a * T'VETECTTVE CHIEF FRED SIMON says they do it for a thrill. “After the first * robbery, they want another thrill, and there is the makings of a bad gunman,” Simon declared. “To show off?” questioned Detective Captain Herman Radamacher. No. They just want to do it, that’* all.”

SOVIET TRADE PLEA SOUNDED BY ROBINSON Conservative Senator From Arkansas Swings From Reactionary Side. CITES BENEFIT TO U. S. Sentiment Grows Steadily for Change in Stand Against Russia. BY WILLIAM PHILIP SIMMS Scripps-Howard Forntn Editor WASHINGTON, April 21.—Normal diplomatic and trade relations with Russia today were advocated strongly by Senator Joseph T. Robinson of Arkansas, Democratic leader. Prompt consideration of this matter. he declared in a categorical statement to Scripps-Howard newspapers. not only would advance the cause of world peace, now seriously menaced, but hplp reduce unemployment, today the nation's biggest problem. "As one feafcfre in the policy of promoting amicable international relations and stimulating our foreign commerce," he said, "I believe that prompt consideration should be given to establishment of diplomatic and trade relations with Russia.

Politics Not Involved "Such a course in my opinion." he continued, "does not involve approval of the political policies of the Soviet republic. It means the application of well-established principles of international law as well as the recognition of daa significance of export trade to the problem of ; unemployment, now the most acute of all our difficulties. "Comparing the aggregate of domestic exports from the United States in 1931 with that of 1929, our foreign trade has been cut in half. Establishment of trade relations under present conditions with Russia should be calculated to promote international peace and good will." The statement of Robinson, highranking member of the foreign relations committe, came as something of a climax, marking a steady growth of sentiment In official circles here favorable to a reorientation of United States Russian policy. One of the most conservative men on Capitol Hill, the senior senator from Arkansas weighs his pronouncements carefully. Great Opportunity for Trade Representative Henry T. Rainey of Illinois, majority leader in the house, earlier in the week expressed similar views, while in every section of the country leading business men and industrialists urged that billions of dollars’ worth of Russian orders would follow establishment of normal relations with the Soviet Union. Bearing out Senator Robinson's contention, department of commerce figures show that not only nearly 3,000,000 American workers are dependent upon export trade jobs, but that every state of the union benefits from this trade. Many fail to appreciate. Secretary' of Commerce Robert P. Lamont observed in this connection, that it is not merely the eastern seacoast states which profit from foreign trade. He produced statistics to back up his assertion. Texas Is Second New York was shown to rank first among the states,, as was to be expected. but the second was something of a surprise, even to members of congress. It was Texas. California is third, Pennsylvania fourth, Illinois fifth. New' Jersey sixth, Ohio seventh, Michigan eighth, Louisiania ninth and Virginia tenth. The first ten states profiting most from this business, therefore, are scattered from coast to coast and from lakes to gulf. No fewer than thirty states sold more than $10,000,000 worth of their products each to foreign countries, according to commerce department tables, and all but six of the entire forty-eight sold above the million mark. Even Nevada, at the bottom of the list, sold $146,843 worth, thus providing jobs for several hundred of her citizens. Exports generally, as indicated b" Robinson, have dropped more than 50 per cent since 1929. Every important foreign country, except Russia, drastically has curtailed its imports. Russia keeps on buying. But, thanks to virtually prohibitive conditions, the United States now is getting almost none of her trade. From $149,000,000 worth of Russian orders placed In this country in 1929-30, they have dwindled until the first two months of 1932 they totaled a bare $1,229,000. So, in two years our exports to Russia have fallen off approximately 95>.per cent.

T. B. HEADS ELECTED Dr. Will Martin. Kokomo, Is Named Association rTesideut. Dr. Will J. Martin of Kokomo was named president of the Indiana Tuberculosis Association at the closing session of the twenty-first annual conference Wednesdav in the Lincoln. Others elected are W. B. Hiee of Terre Haute, first vice-president; Mrs. Ella B. Kehref of Anderson, second vice-president; Mrs. George \ Daviess of South Bend, secretary, \ an <J Dr. Alfred Henry of Indianapolis, treasurer. PUShF MEMBER DRIVE C. of C. Workers Encouraged by First Two Day* Results. Encouraged by results of the first two days of the Chamber of Commerce membership campaign, workers today continued their solicitation on behalf of the chamber’s business building program “While the economic foundation may have been shaken somewhat, that foundation still is solid enough to rebuild upon,” Louis J. Borinstein, chamber president, told campaign workers Wednesday.