Indianapolis Times, Volume 44, Number 150, Indianapolis, Marion County, 2 November 1932 — Page 8

PAGE 8

NEVADA SEEKS U. S. FUNDS TO REOPENBANKS Potato Chips Suggested by Governor to Be Used for Money. BY MARSHALL MTNEIL Tlmti Staff Writer WASHINGTON, Nov. 2.—A large part of Nevada, undergoing what ironically is called a banking “holiday,” may use I. O. U.s or potato chips as substitutes lor hard cash until the government puts up the $2,000,000 being sought to reopen the state’s closed banks. Governor Frederick B. Balzar of Nevada, himself, laughingly sug-

gested potato chips here, as he waited to put the matter before the Reconstruction Finance Corporation. But the whole matter promotes in him anything but mirth. His state’s moratorium, coming just as politicians of his own Republican party are claiming the helpful virtues of the R. F. C. in saving banks,

Balzar

Is no joke, here or there. The banking situation in Nevada became acute several months ago, the Governor said, and $5,000,000 was borrowed to tide the banks over, about $4,000,000 came from the R. F. C. and the remainder from west coast banks. This had been considered sufficient to meet the need, he said. But NEVada’s banks were loaded with livestock loans, stock raising being the backbone of business there since mining dwindled. Livestock Causes Crisis Livestock prices went down and the Nevada bank problem became severe late last week. Some withdrawals occurred. Balzar took an airplane for Washington, intent on getting about $2,000 000 from the R. F. C.. but belore he left he arranged for his I ieutenant-Governor to declare the '‘holiday’” if necessary. The Governor arrrived Monday, telephoned his aid Monday night, and Nevada woke up Tuesday to find about half its banks closed with state permission. Tuesday, Balzar met tha R. F. C., presented his application, examiners were dispatched to Reno, and Balzar called upon President Hoover for assistance in getting the loan. Hoover, he said, was familiar with the situation in Nevada. May Continue 30 Days “It was the only thing to do,” Balzar said of the moratorium, "to avoid runs op the banks, and help save the depositors' money.” He hinted the “holiday” might not end on Nov. 14 as specified, but might hav6 to be continued for thirty days, during which time he believes the banks will be able to reorganize. “We’ve got about a million in state money in those banks,” Balzar explained. “How do you intend to pay your state employes, with wooden money?” he was asked. “Either that, or with potato chips,” he replied. Nevada's difficulties come just as federal reserve board figures show more than a thousand state and national bank suspensions from Jan. 1 to Sept. 30, the period during which the R. F. C. has been functioning. There is no fixed rule for carrying on business when banks close. In a Washington lumber town, wooden money was issued, and guaranteed by the Chamber of

THE INDIANA NATIONAL BANK OF INDIANAPOLIS

RESOURCES Cash on Hand and Due from Federal Reserve and other Banks .... $14,828,894.57 U. S. Government Bonds and Certificates of Indebtedness 7,715,333.37 $22,544,227.94 Loans and Discounts 15,462,173.91 Overdrafts 2,526.34 Municipal and Other Bonds 2,837,010.02 5% Redemption Fund and Due from U. S. Treasurer . . 100,000.00 Interest Accrued but Not Collected 29,495.30 Bank Building and Fixtures 945,450X0 Real Estate Owned 111,970.69 $42,032,854.20 LIABILITIES Capital n * * $2,000,000.00 Surplus 2,000,000.00 Undivided Profits, Net 569,716.03 $4,569,716.03 Reserve for Contingencies 82,229.99 Circulation 1,981,580X0 V*Pos\ts 35,399,328.18 Bills Payable and Rediscounts ....... None Securities Borrowed •••••••,,. None $42,032,854.20

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Simple thing—this voting declares Miss Eileen Hussey (left) of 31 North Highland avenue as she shows Miss Helen Harmon of 23 Johnson avenue how to operate a voting machine. They are trying out for the Nov. 8 election on the practice machine at the courthouse.

Commerce. It was sold widely for souvenirs. In other places banks issue certificates of deposit against which depositors may give their I. O. U.s, and in other places cleaning house certificates are issued. In each instance, where these “holidays” have deprived towns of banking facilities, the result has been a moratorium on private debts. BOOTH TARKINGTON TO NOV. 20 Indiana Author to Visit Johns Hop. kins Hospital for Eye Treatment. Booth Tarkington, Indiana author whose sight was threatened several years ago, has started work on a new novel and is expected to return to Indianapolis about Nov. 20, it was learned today from his sister, Mrs. Ovid Butler Jameson. During the summer, Tarkington lives at Kennebunkport, Me., but will leave there soon for a short stay at the Johns Hopkins hospital in Baltimore. Mrs. Jameson said that since an operation two years ago at the hospital, Tarkington’s sight has improved greatly.

Colds can be ABORTED (with lemon juice) Don’t waste time with cold remedies that only relieve a cold. If you want to end your cold, abort It. The lemon juice treatment will do it. Squeeze two full-size lemons in a large glass of very hot water and drmk without sugar. First, take three tablets of Pape's cold compound an hour apart. This clears the head, dries the nasal passages, reduces any fever. The lemon juice then drives all cold symptoms right out of the system. Bedtime is best. This treatment will abort the worst cold, overnight. One cold compound tablet will check a cold at any time, for several hours; then when night comes you can get rid of it by abortion. Any druggist has Pape’s cold compound. It’s perfectly safe. Try it, and you’ll never go back to halfway remedies.—Advertisement.

STATEMENT OF CONDITION AT CLOSE OF BUSINESS OCTOBER 31, 1932

It’s Easy to Cast Your Vote

HIT BY AUTO, CITY MAN DIES Long-Time Resident Former Ice Company Head. Funeral services for Frank F. Fitch, 67, of 2541 North Talbot street, former manager of the City Ice and Fuel Company, who died Tuesday at city hospital of injuries suffered when he was struck by en auto, will be conducted at 2 Thursday in the Flanner & Buchanan

74

seventy four. Fitch was struck by a car driven by Carl Heidelman, 16, of 2029 Olive street, while walking across Market street at Pennsylvania street. His

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mortuary. Burial will be in Crown hill cemetery. Fitch's death raised the traffic toll in Marion county since the first of the year to

OFFICERS ARTHUR V. BROWN President HENRY EITEL Vice-President GWYNN F. PATTERSON Vice-President EDWARD D. MOORE Vice-President THOMAS H. KAYLOR Vice-President R. MALLOTT FLETCHER Vice-President and Cashier WILLIAM P. FL,YN’N Vice-President RCLLIN W, SPIEGEL Vice-President HERBERT S. WOOD Assistant Cashier JOHN F. KURFIS3 Assistant Cashier ROBERT B, MALLOCH Assistant Cashier JAMES L. FISH Assistant Cashier CLARENCE T. BRADY Assistant Cashier C. MERLE BROCKWAY , Auditor DIRECTORS ROY E. ADAMS President J. D. Adams Manufacturing Company CLARENCE S. ALIG Vice-President Home Stove Company FRED G. APPEL President Gregory a Appel, Incorporated HENRY W. BENNETT President Indianapolis Stove Company ARTHUR V. BROWN President EUGENE H. DARRACH President Inter-State Car Company G. A. EFROYMSON President Real Silk Hosiery Mills, Inc. HENRY EITEL Vice-President EDGAR H. EVANS President Acme-Evans Cos. R. MALLOTT FLETCHER Vice-President and Cashier, Co-Trustee Malott Estate J. S. HOLLIDAY ’ { W. J. Holliday ft Company W. G. IRWIN President Irwin-Union Trust Company, Columbus, lnd.> JOHN J. MADDEN President John J. Madden Manufacturing Company GWYNN F. PATTERSON Vice-President NORMAN A. PERRY Capitalist SAMUEL E. RAUH Chairman of Board Belt Railroad & Stockyards Company PETER C. REILLY President Republic Creosoting Company OB!E J. SMITH Real Estate and Insurance WILLIAM L. TAYLOR Attorney-a-Law

THE INDIANAPOLIS TIMES

skull was fractured. Heidelman was arrested for failure to obey a traffic signal but may be rearrested on a technical charge of manslaughter, according to police. Fitch, resident of the city for thirty-four years, served the entire period as manager of the fuel concern. He resigned two years ago because of illness. Recently he had been engaged in a soft drink distributing business at 720 East Washington street. He was a member of the Modern Woodmen of the World and the Episcopal church. Surviving is the widow, Mrs. Anne W. Fitch. $30,Q00 FOR ROAD JOB Tabulation of Mileage by State Department Is Under Way. Tabulation of Indiana road mileage now being made, will cost the state highway department approximately $30,000, it was estimated today by Director John J. Brown. The department was mandated by the special session of the legislature to measure every mile of state, county and township road in Indiana.

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PRINCE GEORGE WILL BE MADE DUKE, IS HINT 1 ‘ ‘ ' Rumors Likewise Continue to Link His Name With Princess Ingrid. By United Prett LONDON, Nov. 2.—The report that Prince George will be given a dukedom on his thirtieth birthday anniversary Dec. 20 was revived today. It was suggested that the prince may become either the duke of Edinburgh, duke of Kent or duke of Sussex. Rumors likewise continued to link the names of Prince George and Princess Ingrid, visiting in London from Sweden. HIGH FINANCE TANGLE Borrows $250; Pays $265 Interest; Owes $200; Goes to Court. By United Brest CHICAGO, Nov. 2.—Henry Boerma, farmer who got tangled up in high finance, came to court Tuesday for relief. He borrowed $250 from a loan company last year to buy a truck. He paid $265 in interest and service charges, he still owes S2OO and the loan company wants to take his truck away from him. He asks Superior Judge Denis Sullivan for an injunction. Halloween Prank Brings Charge VALPARAISO, *lnd., Nov. 2. Herbert Daviisdon, 62, who served on the jur ythat tried Virgil Kirkland, Gary, today was charged with assault and battery and intent to kill. It was alleged he struck Arnold Adams, 16, on the head with an iron pipe during a Halloween celebration.

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$125 LOOT TAKEN IN FIVE CITY ROBBERIES Two Groceries, Two Homes and Restaurant Are Entered. Burglars in two groceries, two homes and a restaurant obtained loot valued at more than $125 Tuesday night. Virgil Van Arsdall, 3700 West Morris street, declared to have been found in a Standard grocery at 728 South West street, where a front door glass had been smashed, was arrested on a burglary charge. A small amount of cheese, alleged loot was recovered. Loot from a Standard grocery at 809 South East street included $2 in cash, chewing gum valued at $2 and $5 worth of tobacco.. A cigaret v-nding machine valued

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at SIOO and $10.50 m change was 1 stolen from the Edith Thompson restaurant, 528 North Meridian j street.. A toy bank containing 200 pennies was stolen from the home of Dewey Oliver, 2823 Allen avenue, and in the same block, at the home of Ernest Angrick, 2817, a burglar obtained $5. Train Kills Civil War Veteran By United Press CRAWFORDSVILLE. Ind.. Nov.; 2.—A railroad crossing crash here resulted in the death of Isaac Goladay, said to have been the last Civil wa rsurvivor in Walnut township. Witnesses said that Goladay. who was partially deaf, failed to hear the train.

NOV. 2, 1932

I. A. C. HEARING IS SET Kell ers’ Petition on Tax Exemption Case Comes Up Nov. 21. Hearing on the Indianapolis Real Estate Board's petition for reassessment of the Indianapolis Athletic Club was set by the state tax board for Nov. 21. The 75 per cent reduction of assessments for the club, which was made by the state board. ha 4. been protested.

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