Indianapolis Times, Volume 44, Number 65, Indianapolis, Marion County, 26 July 1932 — Page 12

PAGE 12

U. S. IS SECOND ONLY TO RUSSIA IN INVESTING PUBLIC FUNDS IN NATION’S BUSINESS Government Has Placed $3,096,329,687 Into American Industry, Banking: and Agriculture, Survey Reveals. FOLLOWING PATH SET BY SOVIETS System in End Possibly May Bring Operation of Railroads and Other Financed Projects by Federal Agencies. BY MORRIS I)K HAVEN TRACY United Staff Correspondent 'CoDvrlßht. 1032. bv United Press) WASHINGTON, July 26.—The United States government has invested in American business, industry and agriculture, or has available for such investment an aggregate sum equal to 27 per cent of the amount that Russia has put so far into its entire “five-year plan.” It has invested in the last year, or is ready to invest this year, probably 60 per cent as much as Russia is investing in the same period. I he United States is second only to Russia among the nations when it comes to public investment in business, industry and agriculture. Figures compiled by the United Press show that this country has already invested $3,096,329,687.01 in American business and has available a potential sum of $4,568,185,514.

This has been made possible through the Reconstruction Finance Corporation, the Farm Loan Board and other agencies loaning to agriculture, the home loans banks and smaller government enterprises. The total already invested or authorized for investment amounts to $7,664,515,201.01. One hears much about Russia and the five-year plan, under which the government has taken over, developed and expanded Russia’s industry and agriculture. The Soviet information bureau gives the total Russian investment in the fiveyear plan at approximately $27,600.000,000. In the fourth year of the -‘fiveyear plan” Russia put approximately $10,500,000,000 into business. In the same period the United States invested or made ready for Investment close to $6,000,000,000 or approximately 60 per cent as much as did Russia. $1,054,814,486 Is Loaned Perhaps these stupendous figures are more understandable when broken down to specific cases. Take, for instance, the operation of the Reconstruction Finance Corporation since it was formed about the first of the year. s It has loaned a total of $1,054,814,486.59 to finance business. Os that amount, $213,882,724 was loaned to railroads. That sum represents 4'i per cent of the total market value of all railroad bond issues listed on the New York Stock Exchange June 1, 1932, and it is equal to about 25 per cent of the aggregate market value of all the railroad stocks listed on the New York exchange on the same date. The Finance Corporation has loaned to private finance agencies as follow-s: To banks and trust companies, $642,789,313.07. To building and loan associations, $52,484,923.40. To insurance companies, $63,465,600. ,To joint stock land banks, sl,270.000. To mortgage loan companies, $73,600.000. Total, $833,609,736.47. That total is equal to 2 h per cent of the aggregate of the loans all the banks in the United States had outstanding Dec. 31. 1931, that aggregate figure having been $31,616,000,000. Possibilities Are Striking These figures show T that the youngest partner in America’s business already has a lusty interest. But hs future possibilities are even more striking. The $7,664,515,201.01, which the government has invested or authorized for investment in American business, is seven times the market value of all American railroad stocks listed on the New York Stock Exchange June 1, 1932. It is a sum sufficient to acquire almost twice over at present market prices, all the railroad bonds listed on the New York exchange. It is equal to one-fourth of the total loans of all the banks in the United States. It is equivalent to one-eighth of sfofiMit limit Clean, soothing, invisible ZEMO brings prompt relief to itching skin. Eczema, Pimples, Ringworm, Rashes, Dandruff and similar annoying. itching skin or scalp irritations are relieved and usually healed by this antiseptic, soothing lotion. AU Druggists. 35c, 60c, sl.oo.—Advertisement.

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the aggregate income of every man, woman, child, corporation or business enterprise, large or small, in the United States for the year 1930. Where Will It Lead? Such potentialities in the hands of a business partner—even though he be just a silent partner who furnishes the money while you run the business—gives cause to wonder whither the course will lead. The Rockefeller interests controlled—and probably still control —the Standard Oil Company of Indiana with only 14 per cent of the stock scattered among many members of the family, trusts, foundations and charities. There is a sharp difference which should be pointed out, however, between the method of the Rockefeller investment and that of the government. The Rockefellers own outright certain shares of stock. They vote and elect directors. The government’s entry into business is as a finance company. Its method of operation is‘ much the same as that of the finance company which helps the motorist buy his automobile. The motor car dealer takes the motorist’s note to the finance company and obtains money on ;t. The finance company invests its money in these notes—makes a profit by discounting. Future Course Ownership The government agencies which have plunged Uncle Sam into business have operated much the same. The banker, the insurance company, the building and loan association bring to them their notes and mortgages. The government agency advances money upon these securities. When the motorist no longer can meet his payment on his automobile loan, the finance company “repossesses” the automobile. If it can sell it again, it gets its money out. if it can’t—well, it has an automobile on its hands. It is from the possibility of parallel cases arising with the government's loaning agencies that the vision develops of some day in rhe future the government having a railroad for sale—or else having a railroad on its hands. In other words, there lies the path which may lead the government even beyond the role of silent, financing partner, into the role of an operating owner. Russia is the outstanding example of a government that also is an operating owner. 'JUST LIKE THAT ONE’ Rushes to Zoo to Convince Herself She Wasn't Hoaxed on Coat. l nited /'ress NEW YORK, July 26.—A woman rushed up to keeper John Toomey at Bronx zoo. “Let me see the racoons she shouted. He did. “Oh. Mr. Keeper, I'm so grateful. I knew I hadn't been cheated. My friends said the coat I bought wasn't real racoon, but it is. It looks exactly like that one there.” NAMED TO MUSIC POST Max Krone Selected Director of Arthur Jordan Conservatory. Professor Max Krone of Western Reserve university, Cleveland, will succeed Arthur W. Mason as director of the Arthur Jordan Conservatory of Music in August.

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DAPHNE WONDERS WHY CUPID FORGETS English Comedienne Returns to Vaudeville Stage After Five Years to Win New Praise and Honors. BY WALTER D. HICKMAN TUST as Eva Tanguay built her songs around her own figure. Daphne •J Pollard has done the same thing with equal success. Nobody but Miss Pollard could doll up in an ancient bathing suit and sing a song about trying to be a bathing beauty. She wonders why Cupid just passes her by. She admits she has arms, legs and a pretty mouth, but the boys just turn her into a wallflower. What is it that other girls .have that poor Daphne does not possess. Here is a great comedienne. She is really pint size, but her showmanship has Ringling Brothers’ style. She opens up with a rube song about Nancy from the sticks, but she didn’t get her diamonds from teaching Sunday school.

She then does a Fanny Brice number at a cradle and she moans the fata of her “child.” Said child turns out to be a dog. Os course the park bench number is the best thing she has ever done and that stunt closes her act to a great triumph. The movies has done something to Miss Pollard. She is working with greater ease and is surer of

herself. In other words her personality and her showmanship have expanded until she j has a tremendous ; box office dra w j and then stops the j show when she gets them in. And it is no reflection on Miss Pollard when I ! state she isn’t the ; whole show this j week. She has | competition, rea 1 j showmanship com-

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petition from every other act. Jackson and Gardner with Dorothee Adams have a comedy nut act that is a classic. When I laugh through an entire act they must be good. And I did. Here is nonsense splendidly delivered. They stop the show. The same with three Negroes, j Harris and Brookins and Paul Har- ! ris. Paul has a pair of the wicked- j est dancing feet I have ever seen. He is going to be a sensation. It isn’t what Harris and Brookins do. but how they do it that counts. Horton Spurr has a good novelty dance act by himself. Vernon Rathburn and assistants have a nicely presented saxophone act. The Honey Family is a splendid acrobatic organization. The movie is Barbara Stanwyck in “The Purchase Price.’’ You are going to rave over this bill just as I am doing. Because here is real vaudeville. Now at the Lyric. n * GENTRY CIRCUS IS BOOKED HERE What has probably been but a bed-time story to the children of Indianapolis will live again next Thursday. Friday and Saturday when Gentry Brothers Famous Dog and Pony Shows come to town. Thursday and Friday they will exhibit at Kissell Ave. and Maple Road, opposite the State Fair Grounds and Saturday they will appear at East Washington St. and Sheridan Ave. in Irvington. The younger parents oflndianapolis well remember the Gentry

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THE INDIANAPOLIS TIMES

On request, sent with stamped addressed envelope, Mr. Ripley will furnish proof of anything depicted by him.

Brothers Dog and Pcny Shows. Sixteen years ago their founder, Henry B. Gentry of Bloomington, Ind., retired to regain his health. In the years of his retirement appeals came from all over the country to bring back the “Gentry Show.” Two years ago, Gentry having regained his health started preparations to once again present his dogs and ponies in all their old familiar actsThe result is that Gentry Brothers Famous Shows are coming to Indianapolis after an absence of over sixteen years. Some of the distinctive acts that will live forever in the minds of every child that sees them will be: Mr. and Mrs. Snyder that waltzing family of dogs with their “Baby Budge;” Dr. Murphy, the monkey physician, the inimitable monkey fire department that rush in with their complete apparatus to save the monkey hotel; the famous Gentry Brothers’ military ponies with their bobbing plumes, dogs that somersault and ride ponies and walk the tight rope, high diving monkeys and leaping grey hounds. These and many other acts that go to make an exciting performance that will live in the minds of the youngsters. tt tt Otliter Indianapolis theaters offer today: “Miss Pinkerton,” at the Indiana; “Skyscraper Souls,” at the Palace; “Westward Passage,” at the

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CAPITAL SHOWS SKEPTICISM ON HOOVER LOSSES President Hardly Is Down* to Last Million. View of Many. BY RAY TUCKER Times Start Writer WASHINGTON, July 26.—The capital was amazed today, and j slightly skeptical, at reports that President Hoovers fortune had dropped from an estimated $4,000.000 in 1914 to about $700,000 now. The estimates were made in a seenyingly inspired article in the magazine Fortune. It has been the impression here for many years that Hoover was worth around $10,000,000 when he quit private life at the outbreak of the war. Despite “bad” investments reported in Fortune, depreciation of securities, and his comparatively small salary in the last eighteen years, it was understood he had at least onethird of the original $10,000,000. Around the White House, however. it has been hinted of late that the President was down to his last million. While no definite figures ever have been given out, his spokesmen plainly intimated that I the chief executive, like the butcher j and baker and candlestickmaker, j has suffered from the depression that fell over the country soon after he entered the White House. One man knows to a penny what the President is worth. He is Edgar Ricard Rickard. New York mining engineer, Hoover's assistant as Belgian food administrator. Rickard is understood to have j handled Hoover's financial affairs i for many years. The numerous details of the accumulation of the President's fortune j indicate the information came from j somebody close to the White House. Washington saw some irony in •

--£-£gjSm,• YOUHg Man! Remember, if the ' room you are lookI I ing for is not adver--11010 |S fOUr tised in knight’s paper . . . insert an mm ni ad “wanted to P mlm MbWk V RENT’’ giving in PIT Wj Ip §gl MlWI* detail the kind of jg room you want. The cost is small. Yes, sir, if you want a room . . . nearer to your job . . . close to church . . . close to the bus or car . . . " look over tonight’s choice selection of rooms that are advertised under classification 17 (ROOMS FOR RENT) in tonight’s Times Want Ads. Never was there a better time to pick a nice room in the right location than now. The wise young man will act now before the hundreds of fellows who have been vacationing at summer resorts or have been spending a few weeks resting on the farm return to the city. Looking up and down the rental ads in t onight’s Times beats walking up and down a street. For the best room . . . read the offerings in The Times Want Ads. Here Are A Few Choice Locations: North Side East Side Alabama, 1800 Block. Market, E., 1000 Block. Alabama. 2000 Block. Oakland, N., 600 Block. Capitol, N„ 1500 Block. Ohio, E., 400 Block. Central, 2400 Block. $3.50. Vermont, E„ 100 Block. Delaware, 2300 Block, $2.5C. Hawthorne, S., 100 Block. Delaware, 700 Block. 5600 Block, *5. Broadway, 1400 Block. 55.50. Woodruff, 500 Block, Middle Dr. College, 1900 Block, $5. South Side West Side Woodlawn, 1000 Block. Michigan, W„ 3200 Block. Prospect, 1000 Block, $2.50. Washington, W., 1700 Block. Villa, S., 300 Block. Thirty-first, W., 1000 Block. Maryland. 2000 Block. Thirty-second, W., 303 Block. Orange, 1400 Block. Sixteenth, W., 100 Block, $4. TIMES-"ADS Men AH Read The Times and Follow the Room for Rent Ads. They Know the Selection Is There.

the report that the largest single slice out of the Hoover fortune was taken by his purchase of a newspaper here after the war. The

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newspaper was bought by the Intercontinental Development Comparv, of which Julius H. Barnes, wealthy wheat trader, was president.