Indianapolis Times, Volume 44, Number 241, Indianapolis, Marion County, 16 February 1933 — Page 9

FEB. 10, 1933

• EUROPE CAN'T DEFAULT. VIEW OF ROBINSON But If Debtors Do, Then We’ll Punish ’Em, Avers Senator. BV WALKER STONE Timr* Staff Writer WASHINGTON, Fob. 16 —A problem that is troubling most officials in Washington—’what to do in case the European governments refuse to pay their debts to the United States —evokes no worries in the mind of Senator Arthur Robinson. The Indiana Republican, who seldom misses an opportunity to voice his very decided views on the foreign debt situation, believes that the debts are as good as collected, provided the United States refuses to consider requests for leniency. In these distressing times, many private creditors are finding that it is better to settle with their debtors at 50 cents on the dollar, rather than lose all. But Senator Robinson doesn’t consider that good finance, at least in international dealings. “Uncle Sam must demand that the European nations pay 100 cents on every dollar they owe,” said Senator Robinson, in a recent interview. Just Bluffing, He Says “And what If the European nations refuse to pay?” the Hoosier senator was asked. “But they wont,” was his cocksure replay. "France and five other nations already are in default,” he was reminded. “They're just bluffing,” said the ! senator. “They may default for a \ year or so, but in the end, they will! pay. They have to.” “Why do they have to? Uncle Sam has no collateral, and he can t 'take the I. O. U's. Into court.” “They have to pay to keep their credit, said the senator. “No nation can afford to lose its credit.” Senator Robinson refused to concede that it was even remotely possible that the debtor nations might repudiate their debts. But .after , some discussion he consented to answer the “hypothetical” question: “But if they don't pay, what then?” Would Ban Securities “No,” said the senator, “if that should happen it wouldn’t be wise for us to declare war to try to col- ] lect the debts. But we should pass j a law prohibiting any of the default- j Ing countries from trying to sell I . -their securities to private American ! investors. A law like that will bring j them around.” “What about the $14,000,000,000 of securities of foreign governments already fn the hands of American investors?’ the senator was asked. "If the foreign nations tvere forbidden to sell any more securities to American investors, they might then consider that there was no purpose in maintaining their credit with American investors, and therefore repudiate all outstanding obligations.” But that line of thought also ! failed to appeal to Senator Robinson. Like the suggestion of 50cents - on - the-dollar - rather- thannothing, he couldn’t see it. "Yes, they would pay.” he continued. “They couldn’t afford not ✓•to pay.” URGES ACTION TO HIT TAX-EXEMPT PROPERTY Borinstein Confers With McNutt Aids, Asks Amendment to Bill. Conference between Louis J. Borinstrin, president of the Indianapolis Chamber of Commerce, and McNutt administration leaders may result in amendments to the house bill putting millions of tax exempt property back on the duplicate which may effect its passage, It was learned today. Backing up his contention that the present law permits an “annuity racket," Borinstein presented .figures from the county asssessor’s office showing various large properties now exempt. These are money-making properties exempted through donation to schools, religious or charitable institutions. The bill, slumbering In the ways and means committee since Jan. 20, would tax all properties not actually used by schools, churches or charitable institutions. Borinstein points out that the latter exemption has made the "annuity racket” possible. Under the guise of a benefaction, men of property will donate it to a charitable foundation with a string tied to it in the form of annuities. Mr. Landlord, are your houses vacant? A rental ad in The Times .will start the tenants coming. Only 3 cents a word. It’s a Wonderful Way to Relieve Ugly Eczema For 20 years now. soothing, cooling Zevno has seldom failed to relieve itching in five seconds, and clear up stubborn rases of Eczema. This wonderful remedy gets such amazing results because of its rare ingredients not used in other remedies. Get Zemo today if you want to clear up Rashes, Pimples. "Ringworm, and Eczema. It’s worth tho price because you get relief. All druggists'. 3.V, (Hip, Si.—Advertisement.

Your Trip to Europe Piesent-daj price readjustments make a trip across the Atlantic in 1933 a “buy in every sense of the word. But will you take a chance on being able to get the best value for your money without a thorough knowledge of Europe? Or will you safeguard your travel investment by making it with a most responsible organization, whose business it is to plan and carry out every detail of just such a tour as you w ish to take. l or Complete Detailed Information Consult Richard A. Kurtz. Manager Travel Bureau I he Leading Travel Bureau of Indianapolis omm trusts 120 East Market St. R 1 ley 5341

1 COMMCT UI2JDGE BY W. E. MKENNEY WHILE Mrs. Virgil Garrett of Fort Worth. Tex., found it difficult to get good cards during I the national amateur pivot and ! progressive tournament held at St. Petersburg. Fla., she played her cards very well, as was demon - | strated in the following hand. A K-9-4 V 10-5-4 ♦ A-10-9-8 A 8-3-2 [™] *B-7-5 m > 9-8-7-J-3 (f> if) 6-2 ♦ 2 H H 47.5.4 AA-10- Dottier AQ.9 6- 5 [SOUTH ‘ A A-J-3 VA ♦ K-Q-J-6-3 A K-J-7-4 10 Mrs. Garrett was sitting in the South and opened The contracting with one diamond. West overcalled with one heart. North bid two diamonds. While East held five hearts, his , distribution is poor, he has no high J cards, and partner has made only an overcall. Therefore, the heart bid should not be supported on the first round. As Mrs Garrett’s partner only went to two diamonds over the bid of one heart, although this bid of two diamonds was constructive, | Mrs. Garrett decided that with her singleton ace of hearts she would ! have to give up the hope of playing ’he hand at no trurrya. Her next bid was five diamonds, which bought the contract. The Play West’s opening lead was the king of hearts, which Mrs. Garrett in the South won with the ace. Her next play was the king of diamonds, followed by the three of diamonds, West discarding a small heart. The next play was a small club from dummy. When East played the nine, Mrs. Garrett played the jack, which forced West’s ace. West returned the queen of hearts, which Mrs. Garrett trumped with the six of diamonds. If East held the queen of spades, Mrs. Garrett could finesse her jack of spades and easily make her contract. However, if the finesse failed, her game would be lost. The drop of the nine of'clubs by East on the first club play gave her the tipoff to attempt to establish a small club on which a spade could be discarded from dummy. Her next play was the jack of diamonds. West discarded a spade and the trick was won in dummy with the ace, picking up East’s last trump. A small club now was returned. When East played the queen, Mrs. Garrett went up with the king and immediately led a small club, which West won with the ten. Now, when West returned the jack of hearts, Mrs. Garrett trumped with the queen of diamonds and then led the seven of clubs, discarding a small spade from dummy. She now led a small spade, won in dummy with the king, returned a spade which she won with the ace. She then trumped the last spade in dummy with the remaining diamond.

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The More You Buy —the More You Save— ln Ayres' Downstairs Store's FRIDAY BARGAIN SALES | , 'lpfffi You would hardly believe (unless you saw the price tags) that these smart ffjjlH * j but om* Lower-Priced Dress Department offers them to you for only $3! There m? f / / are slenderizing styles for the larger woman—lovely woolens for business and f\ \ J I / / i sports wear—types for street wear! Nicely made of good quality fabrics. \ Remnants of Women’s Service Weight Silks and Rayons psPrs) jjfijiiuL Rayon Hosiery Sold by the Piece Only— W “Buster Brown” Brand I* _ A _ AA V -'/x, O FIRST |A. 3 Pairs ICc OCc vQc T °" #LITY 50l! f§ m Sch a m Scopi, blhßcoi.li mi K * \ / ✓ We have sold thousands of pairs of these nationally pHaiEdCn HyjP* wr \ I /\ \ £jr advertised stockings in the last few months—at a k /y' MUCH HIGHER PRICE! Tomorrow you buy them at Here is a real opportunity to buy fine quality silks t—L a " reat ev are heavy service weight hose and rayon weaves—in the short lengths necessary for —made of fine rayon yarns that look like silk and trimming the new spring dress you are making! me | I E* f '' l ea, ' s on S er - A 1 strictly first quality. Sizes Dozens of weaves! A rainbow of smart colors! In 1 I fLJCeijf Iw ■ 1 2 *° * 2 ln smart hosiery shades, lengths from U yard up to l'/ 4 yards. Every piece a ± Women’s “Buster Brown” Cotton Hose, 10c baiSain ' -Downstairs at Ayres. -g -Downstairs at Ayres. Remnant Lengths of Fine PITi H § H 8 IS Final Clearance ! CottoiOVash Goods OO c Rayon Lingerie 11 tyl© Yard Each —Panties ~ Btß , tomorrow you can choose a much higher priced hat Stepins MBm XUS&CfI Hundreds of remnants to choose from—all meas- fit a big saving! ( omplete assortment of smart spring —Vests MM? ured and plainly marked—all of oualities that vou models most of them brand new! Turbans, sailors, “AS , our'sale’of’Tayon "Sfr'ffi if | aml ° ,herS ' better Hats Reduced to $1.49 —Downstairs at Ayres. -Downstairs at Ayres. is priced at 39c. -Downstairs at Ayres. B Mr Smart New Fitted Women’s Footwear /g|xf%,Smocks Reduced to Clear! MW#ln a Special SALE! a . A M'S OOc &!3r \ i ij i 4 WW lust 3-0 pairs of Ih\ h ' j I priced are radically reduced for quick We don’t believe that any other store in clearance! Size and style assortments are j / ft Indianapolis offers such a large variety of broken—but all are exceptional bargains if f ,7 j / *“ fine quality smocks—and certainly not as low >our size is here! Mostly arch support shoes ,1 i. . priced! Included are our famous “Bell Hop,” an( * a ew style shoes. pe-;'•Li , .;psj the “Culver Cadet” and several smart prinfffH* ssst r ,es - Ayres “Arch-Brace” Shoes I / / / Made of good quality broadcloths, percales, t*" s is °y r ow ;n brand: Made t / I // and smart combinations. Trimmings include Lua! ' to w ?ive un ‘ C* I QC P * J *3m / / ) \\ met fi l or matching hone buttons, starched anc e. New sjrin" stvTs V -IID Wf / U collars, etc. In sizes 14 to 20. from, in sizes 4to 9—AA to D. mM fig/ wm Tg —Downstairs at Ayres. —Downstairs at Ayres. SmSSSSI^SSSSSS^

THE INDIANAPOLIS TIMES

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