Indianapolis Times, Volume 43, Number 313, Indianapolis, Marion County, 10 May 1932 — Page 9

MAY 10, 1932

GOODRICH HITS BACK AT TALK OF MEDDLING Former Governor Denies He Has Taken Part in Fight on Earl Peters. BY BEN STERN AfTrtion that Jame* P. Goodr:rh. Republican, former Governor w* taking a hand in the fight again-* re-elertlon of R. F.arl Peters ** Democratic state chairman, as denied today by the former executive. Charges have been made that Goodrich, whose home Is in Winchester, a*ke<i Charles A Wall. Randolph county chairman and Winchester banker, not. to oppose the election of James Carpenter. Mate auto license department head, a* Tenth district chairmai. ’ I did not do it." Goodrich declared when told of the statement. Approached. St Wall Wall, Peters' candidate for the Tenth district chairmanship at the Shelbwille meeting Wednesday, however, say* that he was told that a representative of the department of Frank Mayr Jr., secretary of state, who is a leader in the fight against peters, solicited Goodrich to dissuade him from entering the cont eat, ■ Goodrich came to me last week and a=.ked me not to go to Shelby - ville Wednesday and oppose the election of Carpenter," Wall said. ‘ I asked him why he didn't want me to do this and Goodrich anwereri that an emissary from the secretary of state’s department had visited him and asked that he urge me not to oppose Carpenter.” have included banking. Victory Is Forecast Wall said he had pledges for ten of the eighteen votes which will be raM In the Tenth district convention Wednesday, which will be enough to insure his election. Both factions were claiming victory today, the Peters group declaring that it will have the votes from the Second. Third. Fourth. Fifth. Sixth. Seventh. Eighth and Tenth district, and one vote each from the First, Eleventh and Twelfth districts The Mayr-South Rend-Frrdrick contingent will concede only the Second. Third and Sixth districts. Members of the faction claim the Fourth Is tied, and that Grover Garrott. state police chief, will carry the Fifth, and Lee Bays of Sullivan, state buxine commission member, will take the Seventh from Paul Frve of Bloomfield. McNutt candidate. Republican district chairmen were to be selected in ten district meetings this afternoon; the First and Twelfth districts having been elected Saturday. No possible contests have been reported. The Eleventh district meeting Is at the Hancock county courthouse. Greenfield.

rNOW OPEN Yantis Castle Barn Man, lug Zi.rv Ml, F.arrpt Mnndar from <* P. >l. I mil ? * ? to CHARLEY DF. SAUTELLE ORCHESTRA fniinlrr Male CMrkfn llinnfr ',rr,rt In Op,n Air 1 Dining Koni> gl PKMM.KTON PIKE AT IT. lIIKRI'ON

AMUSEMENTS Indianapolis . * Friday, Ma y | 3th Old Baseball Park West Washington St. Cn*s novo (3CIRCUS and \\tmunoin T^oo MONSTER. Sea elephant (jn-tTSr pa x'A r nmi hath& nr ah rms CAPrvaeo *uvr m rut antabcdc TWICE DAILY Qpm-gPM POOPS OPEN IPM - 7 PM Ticket Sale Cirrus Day at Clark A Cade Drug Store Ulaypoui Hotel at ame price* a* at Cirrus Grounds.

BIGGEST SHOW IN TOWN IYBICI 6B big acts b.k.o. IvAUPivue

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rfnrnvn pnone m. 1211 I ■■ I] M \ I 1 TH( ~ .SAT. BERKELL PLAYERS with FRANCES DALE la A*ery Hpod • CosiHf HI). "Why Men Leave Home" ££VJrßr‘*Wilson PremiumMan” M|M I*e-**e-l*e; Mata. Wr-Jk-^l wmVTlii 11th Commandment”

A MILLION DOLLARS? THAT WAS ONLY PIN MONEY FOR IVAR KREUGER

The atranr* earer of Ivar Kr*ueer h* <r> smarm? parallel* one htitone. one farMonal It *•. with om* Task <llfTerene*§. th* atorr of John Law whoae Mlutaaleoi bbb>e ranted the ireatett flnanrtal eioloeien of the nineteenth renturv It slaa sat pavchologicaUT. the t-.orr of Frankenstein -the creation of a rronater which in the end alew it* creator Polos;n* la the first of a terie* of article* deallnr s;>n Par Kreur th creator and the victim of the moat aieanttc financial emrnre ever conatnieted, 'Coorrltht 1937 b* United Preaei STOCKHOLM. May 10 —Hts business aarociate* used to say. ‘ The man i* amazing. Ivar Kreuger carries in his head figure* tht would confuse an as-tronomer-detail* of business in fortv-seven nations and eight world capital*, details of trusts and monopolies, of match companies and holding companies, of interlocking financial enterprises, of banks and cartels and communication service*, of government loans ” Ivar Kreuger was amazing. He amazed conservative American bankers, as he amazed the even more conservative old houses of Europe. He was a ruthless Napoleon of finance, riding the shock troops of his dollar reserves over all opposition—and threatening the "enemy" with other dollar reserves that existed only in his imagination. Every nation on earth except one had contributed, however reluctantly. to making him "the second richest man in Europe, and the mast powerful industrialist alive." A million dollars? Pin money! Petty cash to spend on an apartment in Part', or Berlin, or New York. Ten millions? Still nothing. or a most a little coin to tide over when collections were slow. n n n THERE was a broad informality about Kreuger in every one of his magnificent gestures. Kreuger was not the meticulous, penny-pinching shopkeeper who later was to become John D. Rockefeller. He was not one of the seven brothers of Frankfort, squeezing a little Increment out of each pfenning to establish the House of Rothschild. He was not ihe secretive whispering, back-

MOTION PICTURES e Jnnncem, Girls j Railroaded! Mark , ■ Ton'll aar "Such *•<•<•• I ~T“" *A*iir | h^, r> „ , ’ , f J' O , *’ ' b,,t C#UTA Trut Love Sionrf j gjiuitGHT X|tOU*T HUSTON HOLMES ,1 awiraPAGE j) i..i. STONE FRIDAY jjfg A GREAT SCREEN ARTISTE £b IN HER FINEST ROLE! f Joan 1 Crawford BOB! MONTGOMERY 1 R NILS ASTHF.K. MAT ROBSON, LEWIS STONE

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room financial politician who founded the Morgan dynasty of wealth. Instead, he was bold, brilliant, dynamic and forceful, overrunning all restraint with the sweep of a hand and rapid-fire argument. So it came about, through consolidations and loans and purchases and paper credit*, that he controlled an industrial domain, a billion dollars, 400 corporations, independent and interlocking, pulp

DISCUSS TAX CUTS Two Speakers Bare in Government Costs. Reduction of taxes and public expenditures was discussed today at meetings of two clubs. Leslie Colvin, chairman of the Marion County Association for Tax Reduction, addressing the Gyro Club meeting at the Spink-Arms, said cost of government in the nation is thirteen billions of dollars annually, while in 1913 the cost was three billions. James E. Fischer, chairman of ihe association's publicity committee and speakers bureau, used figures from tax duplicates in proving his points In addressing Zonta Club members at the Columbia Club. Fischer put this question: "How is a citizen in Marion county whose income has been reduced 50 per cent in the last two years to meet a tax on his home that has Increased more than 500 per cent in sixteen years?" PLAN BALLYHOO HOP Delta Alpha Fraternity to Give Danee Friday Night. Alpha chapter. Dejta Alpha fraternity. will entertain with a ballyhoo hop Friday right in the K. of C. hall, with Harry May as chairman of the committee in charge. Assisting will be Robert Alvls. Donald Miller. Eugene Wilder. Richard Chambers and Forrest Comrie.

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Premiere Thursday Nite! “SINNERS IN THE SUN”. Last Three Days . . . . Phone M. 554 CIRCLEAhraj/n ... thn brst nhow ia toiMf I nqiieallonably She Grentrst Amoiiement Krent in Thl* City'* History! If™-GRAND W HOTEL BARRYMORE ■ ■ w 1 Matinee Today and Every Day aa a a | aa Talc Daily !:t# A R:tO Sunday* and Holiday* LI. B*4* ALL SEATS RESERVED Mat. Vie to 1.00 Eve. sr to 1.3#

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THE INDIANAPOLIS TIMES

mill*, forests, telephone companies. acres of real estate, iron mine*, copper mine*—and quiet apartments where gorgeous women might offer him solace and make him forget the jumble of figures. nun TVAR KREUGER snapped hi* fingers at auditor*. He bristled at the thought of auditor* messing arougid in his books, messing around in the figure* which he. Ivar Kreuger. carried in hi*

STATUTES BLAMED FOR CROWDED CELLS

Determinate Sentence Act Hurts Reform Plan, Says Leslie. Enactment of determinate sentence statutes by recent legislatures has caused Indiana to take a step bgfkward In Its penal affairs. and is costing the state huge sums by increasing the number of prisoners at the reformatory without hope for parole. This view, expressed recently by Governor Harry G. Leslie, is emphasized in a report on the penal population issued by John A. Brown, secretary o 2 the state board of charities. The report discloses that on March 31 the number of prisoners at the Indiana state reformatory at Pendleton was 2.563. an increase of 381 as compared to the same date in 1931. Brown's report carries the following comment regarding this increase: "The Increase of 381 at the re-

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brain. It was an auditor, ordered in by the same conservative American bankers he scorned as “stupid," who burst the Kreuger bubble, caused something in his overloaded brain to snap, and brought about the last conference ever attended—a conference with death. Blithely. Kreuger had commuted across the Atlantic to New York, to see about hi* already heavy loans, and to arrange for more. New York had been generous to

formatory i* not due to a greater number of new commitment*. For the first half of the fiscal year there were 699 commitment* in 1932 as against 700 in 1931, a decrease of one. “The increase is due to the accumulation caused by long definite sentences imposed by recent laws. "For example, during the fiscal year which ended Sept. 30. 193!, 234 young men (between 16 and 30■ each were committed for terms of ten or more years. The number included 18 for 12 years each, 17 for 15 years. 5 for 20 years, six for 25 years, 1 for 35 and 1 for 45 years. "Such sentences are wholly inconsistent with the principles upon which the reformatory' was established. "When the state, by statute, takes a young offender and locks him up and throws the key away, which is practically what some of these flat sentence laws imply, it is rather foolish to still refer to that institution where the prisoner is confined as a reformatory," Leslie commented.

him. and *400.000.000 of American money w'* somwhere in his industrial empire, or at least in his mind. The L. M. Ericsson Telephone Company was the paw n m his last move. He had bought the company, or 600.000 shares of it • and all Sweden praised hi* patriotism for "keeping it away from foreigners") to increase hi* credit standing. But he needed monev. and so he decided to peddle it to the I.

CLUBMEN HELD UP Bandits Get SSOO in Raid at Muncie. By I nit"i Prrtu MUNCIE. Ind.. Mav 10—Three bandit* terrorized twenty-five members of the exclusive Muncie Club at the Delaware Country Club Tuesnight and escaped with *SOO they took from the victim*. Several shots were fired by the bandit*, but none was injured. . The bandits opened fire when they entered the club, apparently to frighten their victim*. One stood guard while the other two rounded up the clubmen from the various rooms and rifled their pocket*. Miss Nellie Johnson, a maid, called police when she heard the shot*, but authorities arrived a moment after the bandit* fled. AWAIT COMMENCEMENT Annual commencement exercises of the Lawrence high school will be held in the school auditorium tonight. Michael Foley, attorney, will be the principal speaker. Musical numbers by the Lawrence township 'orchestra also will be presented.

T. A* T. in which J. P. Morgan & Cos., and their affiliates, were the controlling interest. The Morgans asked question*. What about an audit of the Ericason company? Very well. Kreuger agreed, since there was no other way out. Let there be an audit, if that were necessary to satisfy these stupid, unimaginative bankers. mat THERE was an audit, by Price, Waterhouse A- Cos. of London. The audit disclosed that Kreuger had taken all the cash reserves from the Ericsson Company. replacing them with European governmment bonds. ‘The bonds have a value of 125 per cent of the rash that was in the treasury." he argtied. "But their present market value is only 50 per cent of the cash." the Americans said. "Good day to you. Mr. Kreuger. and how about that little $4,000,000 loan Lee. Higginson <fc Cos. have farmed out to four banks?" Four million was a mere nothing. But it was more than Ivar Kreuger. dreaming in empires and billions, could find at hand, and the loan was due—now. He looked at the *4.000,000 he owed here, and compared it to the *115.436.000 he owed Swedish bankers. Perhaps he laughed. Perhaps not. At any rate, he went to his penthouse in Park avenue and complained to .Trends that his head was cracking. "No wonder.’’ they thought, "with all those gigantic responsibilities, and all that money to worry about." Kreuger was near a mental collapse. defeated for the first time in his sparkling career, when he left America two months ago. for Paris, where he took his own life. (To Be Continued)

PAGE 9

AMERICA WET. WRITER SAYS Chesterton’s Book Cites Dry Act Abuse. By 1 frtlt LONDON. May 10 —ln the s*me sense it once was said tha* the United States was "going drv," it definitely and decisively can be said now that America has "gone wet.’ according to G. K. Chester!or,, famous British author, whose lat st book "Sidelights on New London and Newer York" was published today. Chesterton found most of the material in his book during his recent visit to the United States. He found what he calls "the heartiest and vulgar abuse of prohibition In the United State*." "In the old day* even the wet* were dry, but today even the drvs are wet. "It once was alleged that the bar was working with the organization of vice, but it is now certain that the federal law works by organization of crime . . . perfectly Innocent citizens are murdered by gunmen in the name of the government of the United States.” Chesterton said men tried to maka drink illegal, but only made murder legal. "Mr. Hoover Is neither better nor worse than all modern statesmen who apparently are obliged to state ambiguously what everybody el.se is stating plainly."

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