Indianapolis Times, Volume 44, Number 83, Indianapolis, Marion County, 16 August 1932 — Page 2
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LOAN SHARKS MEASURE DIES IN HOUSE VOTE Ballot Count Is 25 to 56 After Lengthy Debate on Bill. Effort to paws thp senate bill reducing the small loan interest rate of 3 ',2 per cent a month to 2 per cent was defeated in the house of representatives late Monday by a 25 to 56 vote after a lengthy debate. Before the bill was put on final passage Representative Herbert F. Kenney (Dem.i, New Albany, sought to amend the measure by having the 3’ 2 per cent rate prevail for the first $l5O and a 2 1 2 per cent rate orl the remainder of a loan. “Don't the representatives realise that if this amendment is adopted the loan sharks will refuse to make loans for more than $l5O and have the borrowers of more than that make two notes?’’ asked Representative E. E. Eikenbary <Dem.), Wabash. The amendment was killed. Hot Argument Wages Debate was opened by Representative Earl Crawford 'Dorn.', Milton, who asserted: “This bill, reducing the small loan rate, has been introduced in evpry session. It is not the borrowers who introduce the bill, but the fellows looking for a shakedown who are tack of this measure. “Records of the state banking department reveal that the average earnings of the small loan operators subtracting losses and expenses is only 9 1-3 per cent. There is no provision of the law debarring a small loan concern from reducing its intreest rate and twenty-three of these companies in Indiana are charging only 2': per cent. Tells of Lobby Attempt “The reason - why no borrower comes to the hearing on these bills is that they have been robbed by the loan sharks so that they haven't the funds to come here and they haven’t the clothes to get here,” Eikenbary retorted. “If the operators can’t make money out of the decreased interest rate, they can get out of the business. "A similar measure failed to pass by a constitutional majority in the 1931 session," declared Representative John D. T. Bold <Dem., Evansville. “On the night of the vote a lobbyist met me in a downtown hotel and said: ’Bold, what can we do for you to make you change your vote?’ That’s thp way the bill is handled.”
REALTORS TO PLEAD FOR HOME LOAN BANK Hill Take Appeal* Before Federal Board If Hearings Are Held. A branch home loan bank in Indianapolis will be the aim of a special committee of realtors who will plead before the federal bank board if the board decides to hold hearings, according to recent announcement of Dan W. Le Gore, president of the Indianapolis Real Estate Board. : Members of the committee are Fermor S. Cannon, president of the Railroadmen's Building and Ravings Association, chairman; Lawrence G. Holmes, Fred T. Reed, E. W. Springer, Albert E. Uhl, Gavin L. Payne, and Frank E. Gates.
ATTACK CHARGE BY WOMAN IS DROPPED Vagrancy charge against Robert M. Love, 40, publisher of the Irvington Sun, a weekly paper with offices at 5253 East Washington street, filed after a woman alleged he attacked her, was dismissed today in the court of Municipal Judge Clifton R. Cameron on motion of the state. Mrs. Cuma Lakits, 34. of 2130 East Tenth street, who accused Love, asserted she was in a hysterical condition because of recurrence of an illness due to an injury received several years ago, and was not responsible for her action in accusing tb° publisher. CONSTABLE SET FREE Charge of Carrying Deadly Wrapon Dismissed by Sheaffer. J. J. Britton, 2022 Churchman avenue, was discharged Monday by Municipal Judge William H. Sheaffer when arraigned on a charge of carrying a deadly weapon, Britton, who says he is a constable, was accused by police of wearing a police uniform, using a red light on an automobile, and lack of a constable's badge. He was warned Friday by Captain John Mullin to cease use of the car. Arrest was made Saturday night on complaint of the Indiana Merchant Police Association in which Britton said he was a sergeant. A revolver was found in his possession. LOST SEA FLIERS SAVED Coast Guard Destroyer Rescues Four From Mercy Hane. By I'niled Prtm GLOUCESTER, Mass.. Aug. 16. The coast guard destroyer Wainright Monday night rescued four men aboard a coast guard seaplane, which was forced down in darkness and Jog early Monday during an attempt to reach a dying fisherman aboard a schooner 200 miles at sea. The seaplane, which left the coast guard base here at 10 p. m. Sunday night, was found fifteen miles south of Monhegan island. All four men aboard the amphibian were reported safe. SHOT ROUTS PROWLER City Man Exchanges Fire With Intruder at Side of House. Shots were exchanged Monday night between Jamps Dupee. 933 Camp street, and a prowler at the side of his house. Hearing a noise at a window. Dupee took his gun and went out the front door to investigate. As he looked around the corner of the building, the man fired at him. Dupee returned the shot aftd the prowler ran through a rear gate. Police found no trace of the in-1 truder.
Jack and Franklin Have Reunion
“Well, how are you, John?” . . . “Jimminy, but you look fine, Governor!” ... It was the first time since the opening of the Democratic national campaign that Governor Franklin D. Roosevelt, the party's presidential nominee, hairnet his running mate. Speaker John Garner. And here you see them—Governor Roosevelt at the left—as they stood together on the speaker's stand during a cornerstone laying ceremony for anew armory at Peekskill, N. Y. Afterward they conferred on arrangements for the campaign.
Stocks Drop After Hoover Speech Laid to Politics
DROP LATIN IN GRADE.SCHOOLS Algebra Also to Be Held Until Ninth Year. A ‘ break” for eighth grade public school pupils in the future is contained in an announcement issued today by Paul C. Stetson, pubic schools superintendent.. No longer will the eighth graders be required to fight their way through Gaul with Caesar's legionnaires, or struggle with algebraic equations, for in the future Latin and algebra, will come only in the ninth year. However, 8A algebra and Latin classes already organized will continue until the end of the fall semester. Algebra is to be given in the ninth grade to pupils expecting to enter ; college, while those not going to college will be given a general mathe-! matics course with emphasis on application of mathematics to such | practical topics as taxes, insurance, j budgets, banking and percentages. An introductory language course | in the 8A grade has been substituted for Latin. In this, pupils will be i given a combiastion of English grammar with a general survey of Latin, French, German and Span"- ; ish, with a view 7 toward helping them make a wise choice of languages in the ninth year.
ROUTS YOUTH FROM MELON FIELD: KILLED Farmer Dies of Bullet Wound; 15-Year-Old Boy Is Held. Rt! I nilrd Prr** WIN Tnd.. Aug. 16. —James M. Conley, 63. is. dead here of a bullet wound suffered Saturday when he attempted to frighten a group of boys from his watermelon patch. James Smith. 15, Thornhope, was held and charged with firing the fatal shot. His five companions, tanging in ages between 14 and 20, were released to their parents. Smith told police a revolver he carried in his hand discharged as he climed over a fence to escape Conley. AIDS INDIANA BUSINESS U. S. Commerce Branch Here Successful Questionnaire Reveals. Indiana and western Ohio firms have gained approximately $2,018,000 in foreign business as result of aid given by the local department of commerce branch since it was opened four years ago, according to Kenneth H. Dame, branch manager. The gain is based on replies to a questionnaire sent out by Dame to firms given information. Responses were received from about 15 per cent of those queried.
Reporters Teach Trick to Smart Young Diplomat
By l nitrrl Brens WASHINGTON. Aug. 16.—Francis White, as assistant secretary of state, is a smart young diplomat. Just 40. he has served in China. Persia. Cuba and South America. He is the Latin-American expert and supervised the famous intricate Tacna-Arica negotitions. Now he is playing the lion-tamei in the Bolivian-Paraguayan dis-
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Francis While
said, and walked out to telephone his office. Two others did the same thing. ' Well, if all the correspondents won't stay to hear what I have to say in confidence,” White said, "there is no use o£mv telling it,” and the meeting broke up. *
Government Official Hints Probe May Be Made of Friday Decline. (Copyright, 1932. by United Press) WASHINGTON, Aug. 16.—Belief that political influences were partly responsible for the stock market drop the day after President Hoovers acceptance speech was voiced to the United Press today by a government official in close touch with market conditions. He said he believed this to have been true of both the New York Stock Exchange and the grain market. Information to this effect, he said, had come to him from a confidential, private source in position to know some of the facts. Resumption of the mark°t advance has strengthened the suspicions in some quarters that Friday's decline had been forced. It is possible that an investigation will be made either through government .sources, or by persons friendly to the administration. President Hoover, it was understood, had been advised that certain influences helped press the market down for political reasons. Whether he had planned to take any cognizance of che situation himself could not be learned. Everett Sanders, chairman of the Republican national committee, refused 10- discuss the Ngttft er -in>a ny way when questioned at Chicago. The day after President Hoover delivered his acceptance speech, the stock market took the widest decline since October, 1931. Losses ran from 1 to 7 points.
WOMAN FRIEND SLAYS PRINCE Austrian Knifed to Death With Razor. By I Hilril Press PARIS. Aug. 16.—Prince Edgard of Bourbon, member of the Austrian branch of the French royal family, was found slashed to death in*the apartment of a woman friend today. His companion ,a Spanish woman. was taken in custody. The prince had been killed with a razor. The prince was the husband of Clara B. Cringer. an American. He was bern in Austria in 1850. The woman arrested gave the name of Miss Ondeleria Brau Solor. She said she is 39. Miss Solor was taken before an examining magistrate. She said Prince Edgard had attacked her. and that she fought him with the razor in self-defense. Police understood that the prince, who was the sen of Alice de Bourbon. had been in reduced circumstances lately.
pute. Soothing the temperamental Latins requires all of his suave, diplomatic technique. He believes in secret diplomacy. His motto is, “You can't negotiate through the press.” But when he attempted carry the secrecy complex to the nth degree, newspaper correspondents showed him anew trick. After much difficulty they obtained an appointment, with him. When the first question was fired. White said: “Now. i'll tell you that in confidence." "Just a minute, before you do that will you please tell me this?” one correspondent interrupted. White obligingly answered, and just as he was about to lapse into confidential matter another correspondent interrupted. “Just a minte. before you do that will you please tell me this?” After a half dozen such questions. White .said: “Now from here on everything is confidential ” "You mean you won’t answer another single question for publication?” “Not one." White replied firmly. “Then will vpu please excuse me from the conference.” one reporter
THE INDIANAPOLIS TIMES
WADSWORTH TO TRY COMEBACK Ex-New York Senator Was Victim of Dry Decade. By Scripps-Hownrd Xewspaper Alliance WASHINGTON, Aug. 16.—The first notable victim of the sentiment which produced the dying dry decade will try to make a comeback in November as an humble candidate for the house of representatives in which he may sit at the tail-end of minor committees. He is James W. Wadsworth Jr., famous Yale baseball player of the '9os, a descendant of the Wadsworth who was a close friend of Alexander Hamilton, and a buddy of Warren G. Harding. He was the senatorial successor to Elihu Root, a presidential prospect himself before his senatorial defeat in 1926, and a man who defied the Anti-Saloon League at the peak of its power. Back in 1926 it was predicted that if he won re-election to the senate in New York, he would be the logical Republican nominee for the White House in 1928. He might have been the man around w'hom the old guard and New York crowed would have successfully rallied against President Hoover. Wadsworth refused to pussyfoot on prohibition, when he faced reelection to the senate in 1926, so he lost. To friends who urged him to remain silent and not set forth his repeal views on the eve of flection. he said: Id rather lose, than be a hypocrite.”
SHOWDOWN IS NEAR ON R. F. C. REPORTS Where Full Publicity on Loans Will Be Given to Be Settled. By 1 nit rd Press WASHINGTON, Aug. 16. A showdown will come this week on whether South Trimble, clerk of the house, will follow the mandate of Speaker Jonn N. Garner and make public the first report of the Reconstruction Finance Corporation. Chairman Atlee Pomerene of the R, F. C. today announced that the report will be sent to the senate and house within the next two days. The two-billion dollar relief act increasing capitalization of the corporation requires transmission of monthly reports to congress. Senate leaders agreed before adjournment that no publicity would be given the reports, which cover all classes of loans, unless the senare later specifically instructed its secretary to do so. Both Garner and Democratic Leader Henry T. Rainey, however, have decreed that publicity shall be given every phase of the report. FAMOUS WOMAN BETTER Nurse Annnunres Mrs. McCormick Is Showing Improvement. By T nitrrl Prrss CHICAGO. Aug. 16.—Motherly “Aunt Florence" Cluett. the nurse of Mrs. Edith Rockefeller McCormick, announced today that her famous patient was “better, much better.” Mrs. McCormick, daughter of John D. Rockefeller, once known as the richest woman in the world, and still recognized as the undisputed social leader of Chicago, has been critically ill for weeks in her Drake hotel suite. Members of her family, all of whom achieved front part importance at one time or another, either were at the hotel or speeding oward i Chicago.
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U. S.' BIG6EST FI6URES JOIN RELIEF DRIVE Newton Baker Is Heading Mobilization: Hoover and Smith to Aid. By Rrripp*-Hn<rnrd ’err Al'lanre WASHINGTON. Aug. 16.—Big names were called in again today by the Association of Community Chests and Councils to help put over the National Welfare and Relief mobilization, which gets under way a month hence. The mobilization plans no national fund, nor Rational disbursement of funds raised locally. Its sole purpose is to furnish national leadership and impetus in co-ordinating local relief drives, carried on principally by community chests. .Newton D. Baker heads the mobilization. and today the association announced that he would be assisted by a committee of forty-nine na-tionally-known men and women, including such persons as Mrs. August Belmont. President William Green of the American Federation of Labor, Felix M. Warburg, Owen D. Young and Alfred E. Smith. Hoover Will Assist The mobilization this year apparently is using this national committee to function instead of President Hoover's organization on unemployment relief, which has disintegrated because of lack of funds, and from whose chairmanship Walter S. Gifford, telephone magnate, just has resigned. But Hoover himself will assist by speaking at a welfare and relief conference to be held here Sept. 15. The President will open the conference at the White House, and community leaders responsible for the raising of local funds for social service work and citizens interested in relief problems will be invited to participate. Baker and other heads of the mobilization realize that the raising of local funds this year will be much more difficult than last, not only because the depression has depleted the funds of individual givers, but, also, because a false notion has gained ground that the federal government, through disbursement of $300.000 000 under the relief act, will handle the situation. Baker Makes Statement To correct this fallacious idea, the Reconstruction Finance Corporation, which is administering the relief fund, has made clear that it will not make loans to states until they have tapped all their own resources. Baker made a statement today, also, stressing the importance of local fund raising and local selfhelp. "The task ahead of us is the greatest we have ever faced,” he said. “Every social agency must eo-operate. The national citizens’ committtee will endeavor to mobilize welfare and relief forces throughout the United States. It will be the duty of this committee to explore and explain the existing need. When we are through, we must have prevented hunger and destitution and the nation's welfare plan from destruction. “America,” Baker declared, “was on trial this year! She must preserve her soul!” The citizens’ committee, headed by Baker and J. Herbert Case, president of the Association of Community Chests and Councils, will have William C. Proctor of Cincinnati, and Dr. George Vincent of New York as its vice-chairmen. Among other members are: New York—Cornelius Bliss. Mrs. Nicholas Bradv. Charles S. Burlingham Harvev D. Gibson. Walter S. Gifford. Thomas W. Lamont. Mrs. Robert E. Speer. Lillian Wald. Colonel Arthur Woods. Bishop Francis McConnell. Cleveland—Charles E. Adams. Warren S. Hayden. F. W. Ramsey. Rabbi Abba. Hillel Silver. San Francisco—William H. Crocker, Denver—J. H. Welborn. Birmingham—Oscar Wells. Washington—Roy Chapin, secretary of commerce, the Rt. Rev. James E. Freeman. John Barton Payne, chairman of the American National Red Cross. Buffalo—Alfred Schoellkopf. Pittsburgh—Howard Heinz. New Planes Soon Completed CHICAGO, Aug. 16.—The Boeing Airplane Company, Seattle, will place the first of a fleet of sixty new planes in service for the United Air Lines about Act. 15. The United line operates from Chicago to New York. Dallas and Pacific coast cities.
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.'AUG. IR, 1932