Indianapolis Times, Volume 43, Number 311, Indianapolis, Marion County, 7 May 1932 — Page 3

MAY 7, 1032

BILLION DOLLAR TAX BILL, REWRITTEN BY MILLS, PUT THROUGH SENATE COMMITTEE Coalition Action of Democrats and Republicans Is Hailed by Treasury Chief as ‘Definite Progress to Sound Condition.’ UPON FLOOR FOR DEBATE NEXT WEEK Measure Will Balance Budget in 1933 if Congress Reduces Government Expenditures More than $231,000,000, Say Experts. BY MARSHALL M’N'EIL Tim** Staff Writer WASHINGTON, May 7.—A new $1,010,000,000 tax bill, practically rewritten by Treasury Secretary Ogden L. Mills, and put through the finance committee by a coalition of Democrats and Republicans, will be reported to the senate early next week. Mills, apparently expressing the view of President Herbert Hoover, hailed the bill as a nonpartisan measure which is a "definite step in the progress toward restoring government finances to a sound condition.” The befuddled committee, apparently whipped into quick and determined action by President Hoover’s economy mesage of Thursday, augmented by the stinging lecture it received from Mills on Friday, rewrote its bill within a few hours. It imposed heavier income taxes in the lower bracket and lowered the upper bracket rates, both the normal rates and the surtax rates being proposed by Democrats and approved by the coalition. It kicked out numerous nuisance taxes and shifted the resultant tax burden to a smaller list of selected items, especially automobiles. It imposed high estate and gift taxes; eased somewhat the burden of losses suffered by corporations this year; laid heavy excises on the ingredients of home brew, and incorporated an alleged tariff on rubber along with the oil, coal, copper and lumber tariffs.

The hill will balance the budget in the fiscal year 1933, if congress reduces governmental expenditures by $231,900,000 to $250,000,000, it is claimed. While a large majority of the finance committee accepted Mills' program, variously called a "compromise," and his "peace offering,” four members —two progressive Republicans and two Democrats—voted against it. Around this nucleus of four, led by Senator Robert La Follette, there probably will be built plans for a bitter fight. And this fight against the administration's tax program will be complicated, and probably lengthened, by the inevitable row over the tax-tariffs included in the revenue bill. Reversed Numerous Times The committee, after long weeks of hearings, weary days ol executive sessions during which it reversed itself innumerable times, quit Thursday night with a tax bill that probably would have balanced the budget. It included the highest income taxes since 1922, numerous special excise taxes, and four taxtariffs. Friday morning. Mills came before the committee, and within three hours it again rewrote the bill, accepting almost all of the treasury's new. compromise tax program. The confusion within the committee room was greater than it had been before. Even senators, emerging from their room into the anteroom where lobbyists crowded against newspaper correspondents, w'ere note quite clear as to what they had done. The most unusual of the accepted Mills proposals was for a 5 cents a pound import tax on crude rubber. Senator David Reed (Rep., Pa.) originally sponsored this, but he apparently dropped his proposal when it was reported that many firms had a year's supply of rubber on hand, and hence that the tariff would yield no revenue. The treasury now estimates it wall raise $53,000,000 annually. This point was hotly contested by some member.*, including Senator Tom Connally iDem., Tex.). Four Oppose Program No new estimate was given foi ihe four other tariffs, which were kept in the bill—those on oil. lumber. coal and copper. Elsewhere, it is said, these four tariffs would yield only about $6,000.00 a year. A capitol tax export said the treasury estimate of yield from the rubber tax was high, as were the treasury estimates on yield from the excise taxes on lubricating oil, and home-brewing ingredients. All other treasury estimates, this expert declared, were "very conservative.'* The four who opposed the Mills program—Senators James Couzens Rep., Mich). La Follette 'Rep.. Wis„ Cordell Hull (Dem., Tenn.) and Connally—take the attitude that the Thursday tax bill, as written before Mills attacked what he called its ‘'atrocities.’’ had been adopted by a majority vote on all items, that it would have balanced the federal budget next fiscal year, and that it should not have been ditched for the administration's proposals. Mills Is Well Pleased Mills, himself, however, was well pleased. “The action by the senate finance committee." he said in a statement, "in reporting out by a large majority, on a strictly nonpartisan basis, a revenue bill which will produce in excess of $1,000,000,000 is another definite step in the progress toward restoring government finances to a sound condition. "The bill Is. of course, not perfect; ' but most of the objectionable features, such as the double taxation involved In the application of the normal tax to dividends, the denial of any carry-over of net losses, the penalty rates applicable to the filing of consolidated returns, and the drastic provisions relating to losses. on security transactions, have either been eliminated or modified." Here is a resume of the bill, final action upon which is to be taken by

the committee Monday. (Estimates of yield are those given out by the treasury): As Rill Now Stands Income taxes—Normal rates of 3 per cent on the first $4,000 ; 4 per cent on the next $4,000. and 9 per cent on the remainder of net taxable income, surtax rates starting at 1 per cent on $6,000 and graduating upward to 40 per cent on SIOO,OOO, with further graduation up to 45 per cent on incomes in excess of $1,000,000. The 25 per cent earned income credit was restored. The personal exemptions of SI,OOO for an unmarried person, and $2,500 for a married person w’ere also restored. These rates are to yield $155,000,000 additional revenue. The corporation income tax remained at 14 per cent, and SI,OOO exemption was removed, as was the l x i per cent penalty on consolidated returns of corporations, to yield $52,000,000. Administrative changes—including the house provision for taxation of capital gains and losses, arc to yield $80,000,000. Estate and gift taxes—as agreed to by the house are to yield $5,000,000. An amendment by Senator Gore • Dcig., Okla.), preventing deduction from corporate income of money paid for salaries in excess of $75,000 a year was adopted, as was another Gore amendment taxing bonuses or salaries over $75,000 a year at 80 per cent. DEFUNCT BANK PAYS DEPOSITORS IN FULL SBSO Per SI,OOO Share Returned to Stockholders of Institution. B;/ L'nilrd I’rt*a UNIONTOWN. Pa., May 7. Distribution of SIOO,OOO to the 1,000 stockholders of the First National bank. Uniontown, which closed seventeen years ago, will bring the total payments to stockholders to SBSO a share and climax an enviable record. In addition to the payments to stockholders all depositors' claims have been paid in full with 6 per cent interest and almost all bank obligations have been met. The first National Coal Company, which will make the distribution, was organized by the stockholders after the bank closed. It has a cash surplus of $50,000 in addition to the dividend and 1,400 acres of coal land valued at $350,000. It is expected that payments to stockholders will total $1,200 when final liquidation has been accomplished.

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Girls Receive Class Rings at De Pauw Fete

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Betty Lupton

Mary Jo Enochs

By Timrx Special GREENCASTLE. Ind., May 7. In a special ceremony this morning, the De Pauw junior and senior class rings were awarded to Mary Jo Enochs, junior from Sullivan, Ind., and Mary Elizabeth Lupton, sophomore from Indianapolis, chosen to wear these rings for the coming year. This was a part of the annual May day celebration which began today and will close Sunday with the Mothers’ day program. Miss Enochs is a member of Alpha Omicron Pi sorority and has been prominent on the campus. She is a member of Theta Sigma Phi, journalistic sorority; a member of the editorial staff of the De Pauw magazine, Literary Publican, the De Pauw, student newspaper, and in her freshman year was elected to Alpha Lambda Delta, honorary scholastic organization for freshman women. Miss Lupton is a member of Kappa Kappa Gamma sorority. ORDAIN PRIESTS SUNDAY Mixed Choir of 35 Voices to Eing at Sacred Heart Rites. Mixed choir of thirty-five voices will sing masses at the Sacred Heart church Sunday in celebration of the ordination as priests of four parish members. The choir will be under direction of Professor Boerger. The Rev. John Joseph, pastor, announced that first masses will be by Father Valerian Schott, at 5:30 a. m.; by Father Manfred Jochem at 7:30; by Father Victor Herman at 9:15, and by Father Stephen Bensman at 10:30, the new priests. STUDENTS SEEK HONORS Butter Group to Compete in Play Contest Over Radio. “Storm Before Sunset,” in drama form, was to be presented by seven Butler university students, members of the Thespis Dramatic Society, participating in the second annual interstate university radio contest over the NBC hookup this afternoon. Butler earned the right to compete against Hanover college and Purdue university of Indiana; University of Illinois and Wisconsin university, the other contestants, by winning the Indiana contest last Saturday. POSTPONE AKRON’S HOP Flight for Coast to Start Sunday if Weather Permits. By United Press LAKEHURST, N. J., May 7. The. navy dirigible Akron will not begin her transcontinental flight until Sunday, ana only then provided weather conditions are favorable, it was said at the naval air station today. Ship officers studied atmospheric forecasts today with a view r o determining the route to be followed.

12,000,000 Investors in United States Building and Loan Associations Earned Nearly a QUARTER of a BILLION Dollars in the Six Months Ending Dec. 31, 1931. Investors in Marion County Associations, December 31,1931, received, or were credited with, six months’ dividends amounting to over $1,812,000.00. Fletcher Avenue Saving and Loan Association has paid semi-annual dividends regularly during its entire existence of fortytwo years. Fletcher Ave. Sav. & Loan Assn. 10 East Market Street In the Heart of the Business District

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THE INDIANAPOLIS TIMES

DEATH COMES TO DOIIMER, AS FRANCE MOURNS French President Regains Consciousness Only Few Moments. (Continued From Page 1) police officials, including Paul Guichard. director of the Paris municipal police. A stranger had entered the Rothchild home some time before the president arrived. He walked briskly to the entrance of the mansion and was gone inside immediately. The man. Dr. Paul Gorgouloff, obviously was nervous, and paced rapidly back and forth. Soon the president entered, ac--1 companied by his party. Guichard was one step ahead of Doumer. The buzz of conversation was hushed as those in charge of the book sale moved forward, smiling, to greet the president. Gorgouloff advanced toward Doumer. He drew a revolver and fired a bullet point blank into Doumer's frail body. The impact sent the president whirling. Fires Second Time A second time the assasin fired. The bullet entered the president’s head, below the left ear. and penetrated to the base of the cronum. Doumer's arms moved forward instinctively in one, quick, desperate motion. Then he collapsed into the arms of Francois Pietri, minister of national defense, and Champetier de Ribes, minister of pensions. The crowd became excited, but the cooler heads acted quickly and rushed Gorgouloff. Guichard grappled with the assassin as he fired again. The bullet shatered the police official's wrist. Claude Farrere, president of the Authors’ League of France, seized the Russian’s arm. Ferrere was wounded slightly in the forearm as Gorgouloff emptied his gun. But j Ferrere and Guichard clung to the : Russian and finally hurled him to i the floor. * Kicked by Throng The crowd, now free from panic, but hysterical with rage, closed in and attempted to seize Gorgouloff. He was kicked and beaten before Guichard and his aids draged him away. News of the attack spread swiftly, and soon a crowd formed outside the mansion, demanding that the Russian be lynched. He was placed in a limousine, but a crowd at the place Saint Philippe du Roule surrounded the car, shouting, “kill him, give him to us.” The chauffeur was forced to speed up the car and knock some of the mob out of the way. The Russian’s eyes were almost shut and his face was discolored from blows he rei celved. While the Russian was held In chains at the central police station and told his story in the manner of a madman, Doumer had been taken across the street to the hospital and a desperate effort begun to save his life. He was losing blood rapidly. Urgent messages assembled the best doctors and surgeons in France to his beside. Russian Offers Blood The Russian Youths’ Federation of anti-Bolshevik exiles sent its president to the hospital, on Instructions of Grand Duke Andre, to offer his blood for transfusions. “Since it was a Russian who shot M. Doumer, we Russians are anxious to offer our blood,” the youths’ president, Kasembv, said. Physicians selected a young interne to give.blood for the transfusions. The assassination, on the eve of the legislative election campaign, in which the nationalist ipirit has been reawakened, caused numerous outbursts against foreigners. The clubs and cases of Montparnasse, usually given over to carefree I revels, boiled over with anti-foreign ! sentiment and many foreigners un- j fortunate enough to be caught outside their homes were jeered or handled roughly. The papal nuncio and the Abbe Verac were among the visitors to the hospital. Doumer, who was a protestant, did not receive extreme unction. Tragedies Marked Life A man born of the most humble circumstances, Paul Doumer built his personal and political life on such a foundation of schooling that at 74 he reached France’s peak—the presidency. But interspersed in the busy, quiet years were setbacks and tragedies sufficient to make of him almost a forlorn figure, even in the moment of his triumphs. His greatest tragedy was the loss

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r " .jfSSEXk* . > w • 'lk**-, wr —*’ > f -- *-■ ; ' Mmrn&m * \ f tp,;/ *• .-w ... Q B V fVf>JA\ \ feijvv-w i. - T . J| - —— —— * jwpp? ■!? pf jHERE is “a penthouse wav up | Problem of where the office ws lin the sky” that is devoted S be P ut ln the crowded highwi JP* u , , headquarters arose. Milner ha to business and not merely pleas- | state supervisor of cor ure and palatial living. It is the struction on the new highway d< 'WW cjjy first penthouse office in Indiana. : partment garage at Market an ■Qk. Jlijf perhaps, and is owned and West streets. operated by the state highway de- , He hou: U t ' When the state highway com- i counting. mission recently decided on a Miss Miram F. Stiers. 423 Nort ejk complete traffic count for Indiana, Oakland avenue, who with Mi isll an of * lce t 0 care ' lor the labula * E Street inspect 110115 waP needed. traffic count map preparatory ' Us WKBwm Fred A - Henning of the ,he tabulation. Milner is show /jf engineering staff was put in m the photo in front of tl 'W f charge of the count in the field penthouse. il mmg mayor-s °- k - ° n beer j Seattle Executive Won't Bother 'm mjk Jf || . ! T- Home Brew, Wine. He Announces. M S ftife residents who want to “make a little

Upper—Miss Miram F. fliers (left) and Miss Mary E. Kemmer. Lower—William F. Milner.

of four sons In the World war, a tremendous loss even for France, where almost every family suffered. Two sons were killed in the same sky raid, while flying as captains in the-French army. He was born March 22, 1857, at Aurillac, in the department of Cantal. His father was a railroad employe. Education was impost ible. At 14, Doumer went to Paris and became an apprentice in an engraving plant—where in the next few years he combined patient work with hours of night studying. After seven years he passed an examination at the University of Par.s and was given a degree in sciences, which permitted him to instruct in the provinces. Illness forced him to retire, however, and he turned to journalism, becoming an editor within a few years. His entry in politics came in 1888, when he was elected to the chamber of deputies as a radical, but he lasted only one term. In 1890 he returned to the chamber from Laon. For forty-four years his life was devoted to politics, ranging from deputy, cabinet minister, president of the chamber, governor of Indochina, candidate for president of the republic, and finally president. Through all he remained almost unobstrusive In his quietness. In many respects his political activity has been compared to that of former President Coolidge of the United States. In appearance he was somewhat similar to Chief Justice Charles Evans Hughes of the United States.

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T TERE is “a penthouse way up in the sky” that is devoted to business and not merely pleasure and palatial living. It is the first penthouse office in Indiana, perhaps, and is owned and operated by the state highway deI partment. When the state highway commission recently decided on a complete traffic count for Indiana, an office to care for the tabulations was needed. Fred A. Henning of the engineering staff was put in charge of the count in the field and William F. Milner in the office.

MAYOR’S 0. K. ON BEER Seattle Executive Won’t Bother Home Brew, Wine, He Announces. By United Presa SEATTLE, May 7.—By way of bringing back the good old days, Mayor-Elect John F. Dore has promised that he will not bother residents who want to “make a little beer or wine in their homes.” He also said he favored smoking on rear sections of street cars, to increase patronage on municipal lines.

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Problem of where the office was to be put in the crowded highway headquarters arose. Milner had the state supervisor of construction on the new highway department garage at Market and West streets. He remembered the penthouse there with its excellent lighting. So it now is devoted to traffic counting. Miss Miram F. Stiers, 423 North Oakland avenue, who with Miss Mary E. Kemmer. 1719 North Alabama street, inspects the traffic count map preparatory to the tabulation. Milner is shown in the photo in front of the penthouse.

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MAN IS FREED BY KIDNAPERS Rich Joliet Family Denies Paying Ransom. By Vnit< and Prcs JOLIET. 111., May 7—Gustav Miller, 22, son of a wealthy local malt dealer, held kidnaped eight days after being abducted from the home of his fiancee, returned home safely shortly before 2 a. m. todav. He was unharmed and members of the family said no ransom was paid for the youth's release. Miller was released at the gates of Starved Rock State park, sixtv miles south of here. A telephoned message to his brother, Martin Miller, directed the family to go to an unrevealed place in Chicago where they obtained information the youth would be found at the park. Despite denial by the family that ransom had been paid, belief was general that an amount approximating SIO,OOO was paid. The kidnapers first asked $50,000. At no time, said Miller, did he obtain a clear view of his captors and he was doubtful if he would be able to Identify them. ‘‘As I left the home of my fiancee.” Miller said, “about midnight last Thursday a man holding a revolver jumped from my automobile when I went to get in. A companion appeared in a moment and the two of them forced me to drive several miles out of the city. “Here I was transferred to another automobile and a towel thrust over my face. There were at least three men in the car guarding me. Eventually we arrived at a house. I was taken to what I believe was the basement and placed on a mattress “They handcuffed me and shackled my feet so I could not escape. A gauze bandage was placed over my eyes. During the entire eight days I was kept in this position. The men gave me whatever I wished to eat and outside of tha discomfort of the handcuffs I suffered no harm.”