Indianapolis Times, Volume 44, Number 243, Indianapolis, Marion County, 18 February 1933 — Page 3

FEB. 18, 1933

FIGHT ON LOAN INTEREST WILL OPEN IN HOUSE New Measure Puts Rate Up to Financial Institutions Department. Legislation to fix petty loan interest rates, which already has j general assembly, again will become the center of attraction, probably | Monday, when a revamped bill will j be presented in the house of representatives. This measures, to come from a subcommittee of the house committee on banks and trust funds, is expected to vest the interest-fixing power in the new department of financial institutions, a part of the McNutt program of governmental reorganization. % There are indications that the hill will not prevent fixing an interest rate higher than the present maximum 34 per cent, but it is considered unlikely that a higher rate ever will prevail, due to public opposition. Loan Men Testify The bank committee, in the course of hearings, has received the views I of the Household Finance Corporation, operating in twelve states, presented bv its counsel, F. L. Thompson of Chicago. Views of Indiana lenders have been presented by Joseph Stratton of Sullivan, chairman of the executive committee of the Indiana Association of Personal Finance Companies. Thompson has presented, for committee consideration, a bill drafted on one passed this week by the Wisconsin state senate. It provides strict regulation by the financial institutions department and gives it full interest fixing power. The representative explained to the committee that there is nothing in the bill to prevent the department from fixing a rate higher than 3 4 per cent. Thompson and Stratton agree on the point that the small lenders oppose any rate lower than 34 per cent. However, the former explained, "there is a line of thought in the business which is considering 34 per cent for loans up to SIOO and 24 for amounts above that, up to s3oo.’’ Pursley Also Heard Stratton urged the committee not to make it “too hard for the little fellow to get a license,” for operaion. The committee also has heard Alex Pursley of Hartford City, a small loan operator and member of the Democratic state committee. He expressed confidence that the banks committee would submit a bill acceptable to the business and that the new department would not abuse the regulatory powers it is intended to confer upon it. Pursley and other Democratic leaders have been conspiciuous in the petty loan battle since it started in the senate, where a bill sponsored by Senator William P. Dennigan (Dem., Vincennes), cutting the interest to 2 per cent a month, was passed and now is in the hands of the house banks committee. The 2 per cent rate was fixed in an amendment. Originally, a rate of 14- per cent was sought. VAST GAIN IS SHOWN IN PROFESSIONAL WORKERS Nearly Ten Times as Many Now as 60 Years Ago, Says Report. Pll Timm Special NEW YORK, Feb. 18—Nearly ten times as many Americans now are engaged in professional work of various kinds as there were sixty years ago, it is revealed in the report of the President's research committee on social trends, just made public. The advance has been most striking in the newer professions, the number of engineers of all classes having increased more thar. thirtyfold between 1870 and 1030, the report shows. Changes and increases in the number of Americans occupied in the professions in tre last six decades Up to 1930 are analyzed in the chapter of the committee’s report entitled “Shifting Occupational Patterns.' the authors of which are Ralph G. Hurlin and Meredith B. Givens. The chapter is based on statistics furnished by the United Stetes census. Noting the growth in the number of engineers, the chapter states: “In a special sense the machine age is the creation of the technical engineers, whose numbers, excluding electricians, have increased from 7,000 in 1870 to a total of more than 226.000 in 1930.” *sill slashing tax” EXEMPTIONS ADVANCED Measure Goes to Second Reading in House of Representives. Bill which would end tax exemption of income property of religious, charitable, literary and educational organizations was advanced to second reading Friday in the house of representatives. It has been estimated ending exemption would place $45,000,000 worth of property on tax duplicates of Marion county alone. Other bills advanced would create a state probation department and relieve publicly owned motor vehicles from payment of fees, but requiring registration. PROGRESS IS CLAIMED Thousands of Dollars of AntiSmoke Equipment Installed Here. Equipment costing thousands of dollars has been installed by various Indianapolis business houses and institutions during the last year, in an effort to make Indianapolis a cleaner city, according to Roy Johnson, secretary of the Indianapolis Smoke Abatement League. Reports cf the various organizations co-operating with the league were given today at a luncheon at the Columbia Club, which opened the observance of Smoke Abatement day. The luncheorf was followed by a technical meeting at the Big Four building, under the direction of George R Popp Jr., city combustion engineer. Plumbing Permits Frank Rorll, 315 Prospect. Frank Gallon. New York and North Meridian #The Wiebke Company. 36 West Fortythird.

WIFE VALUES MATE'S LOVE AT MILLION

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Estimating the value of her husband's love at $1,000,000, Mrs. Grace Williamson Willett, left. Chicago society leader, has filed suit for that amount against Mrs. Marv Cave Hall, also of Chicago, charging alienation of the affections of her husband, Howard L. Willett, right. Mrs. Hall is a wealthy widow. Willett is president of Chicago’s largest trucking company. All are prominent in society.

STATE TO RUSH REPEAL ACTION McNutt Prepares to Set Up Machinery for Indiana Convention. With passage in the United States senate of the Eighteenth amendment repeal plan, Governor Paul V. McNutt announced that a bill will be presented to the Indiana legislature which will set up machinery for the state's repeal convention. Tw'o plans were advanced, one of

Fifty-Eighth Annual Statement For the Year Ending December 31, 1932 ASSETS Cash on hand. December 31, 10.32 $ 67.613.07 Loans on mortgage security 12,097.227.04 Loans on stock or passbook security 55,711.24 Furniture and fixtures 1.255.50 Real estate —office building 182.920 64 Real e: tate—book value 790,812.33 Sheriff's certificates 109,436.29 Due to insurance and taxes advanced for borrowers 28.559.94 $13,333,536.05 LIABILITIES Dues and dividends $12,491,839.10 Borrowed money 430.994.74 Contingent fund 32o!ooo!oo Undivided profits 78.425.46 Reserve for interest 7.276Y5 $13,333,536.05 LEO F. WELCH, Secretary. rri TIP savings & loan LLL lie ASSOCIATION • Member of The Marion County League. 23 W. Ohio St.

Wives — Daughters — Husbands —Sons and Sweethearts —All Are Invited! The Times Free Cooking School and Better Housekeeping Institute

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Dorothy Ayers Loudon Conducting

Every housewife will want to attend. Sessions begin promptly at 2p. m. (Thursday evening session at Bp. m.) Doors open an hour in advance. Admission free. All are invited. Scores of baskets of groceries and other valuable prizes w ill be awarded. Admission Free and Everyone Is Invited

which would have the convention consist of fourteen delegates, representing the twelve congressional districts and two senate seats, all to be elected from the state at large. Another plan calls for election of 100 delegates on a nonpartisan basis. The convention, date to be j set by the Governor, would act only I on the repeal proposal. L. E. York, superintendent of the Indiana Anti-Saloon League, said that drys will not oppose holding a convention in Indiana, provided the method of selection of delegates is fair and sufficient time is given to present the dry cause. P. J. Lauck rented a four-room bungalow' from a Times Rental ad. If your property is vacant, call RI-551.

THE INDIANAPOLIS TIMES

KOKOMO MOVIE FIRE LEADS TO ARRESTOF ONE City Man Is Held After Long Investigation by State Marshals. First arrest as result of several months’ investigation by deputy state fire marshals of a mysterious fire at the Indiana theater, Kokomo, climaxing warfare between the theater and union operators, was revealed Friday. Eddie Eviston, 30, of 620 Fletcher avenue, is under arrest at Bloomington, charged with participation in theft of a car stolen for use by participants in the Kokomo theater altercation. The car was stolen from Dr. Russell De Mott of Bloomington in April, 1932, later being found abandoned on a country road near Kokomo. Testimony obtained by deputy fire marshals indicates the car was used by sluggers and gunmen hired ta shadow Fred Blacker, Kokomo union official, w r ho w r as beaten severely by unknown assailants, according to Charles Bridges, former deputy marshal, who conducted the investigation, assisted by Deputy C. B. McDonald. The Kokomo theater fire climaxed a warfare carried on by stench bombs, some of which were throwm in the Indiana theater at Kokomo before the fire, which officials believe was incendiary in origin. Bridges said results of his investigation of the fire and stench bomb throwing will be placed in hands of the Howard county prosecptor w'ith the statement that if no action is taken the testimony will be turned over to the attorneygeneral’s office.

SEE WASHINGTON, D. C. An unequaled opportunity to visit your nation’s capital at a cost within reach of every one. Five Interesting socr.oo An Days 4 Inclusive March 26 to 30, 1922 Including Annapolis, Md.—Alexandria, Va.—Mt. Vernon Our rate of $35.00 includes each and every item of necessary expense; railroad fare, all meals, hotel accommodations, extensive sightseeing program, etc. Complete Details May Be Obtained From RICHARD A. KURTZ, Manager Travel Bureau The Leading Travel Bureau of Indianapolis &UNION TRUST 0 * 120 East Market St. R 1 ley 5341

English Theater T uesday—W ednesday— Thursday Feb. 21,22 and 23—2 P. M. Evening Session 8 P. M. Thursday Dorothy Ayers Loudon, nationally known home economics expert, will illustrate the newest ideas on cooking and better housekeeping methods. She will prepare appetizing meals in a small kitchen in full view of the audience, showing you each step in the preparation of new intriguing money-saving food combinations. Entirely new, even bigger and better than that of last year. You are invited and urged to attend. ■■■ ■ 1 Many Valuable Gifts Will Be Awarded Each Session

...Today’s [Allll OlltlC: | February IS-l&16-M*ary I, Queen of England bom. ls6l-Jeffersont>avis inaugurated first President of the Confederacy. yusolast purchases Jumbo, latest AFrican elephant, to compete with (j.o.p. Show.

A. J. Gruenholz, 2914 East Twen-ty-second street, rented his furnished house with a two-day Times Rental ad costing but 54 cents. He received twelve calls from the ad.

BACKACHE IT MAY BE YOUR KIDNEYS—TRY DIUREX SOLD AND Guaranteed by HAAG DRUG CO. W. F. Burns, 208 Indiana avenue, city efficient watch repair man and jeweler for many years, conscientious, honest above reproach, says: “After using DIUREX Pills, a preparation of merit. I found desirable results and am willing to recommend them.” TRY FOR YOURSELF DIUREX PILLS act while you sleep, being used in Indianapolis by hundreds of people, and is sold under a guarantee. DIUREX PILLS. diuretic stimulant to your kidneys.

LOOPHOLES FOR UTILITY DODGING CLOSEDJJY BILL Weiss Measure Is Aimed at Barring Appeals to Federal Courts. Federal court appeal, perfect alibi of the public service commission for failure to reduce pre-depression utility rates, will be checkmated by an amendment to the administration utility bill to be offered in the senate, it was learned. The amendment, which will settle all appeals in Marion superior courts, has been prepared by Senator Jacob Weiss (Dem., Indianapolis). He will offer it to Judiciary C

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committee, which has the utility bill, already passed by the house. If it is rejected in committee he will fight for its adoption on the senate floor when the bill reaches second readin. Weiss said. Here is his theory regarding it: "Appeals to federal district courts in rate cases now are taken on the ground that the fourteenth amendment to the federal Constitution is being violated and property confiscated 'without due process of law. “Under my amendment, that ‘due process' will be provided. Rate appeals will be taken to one of the five judges of the Marion superior court. Therefore, an adequate remedy at law will be provided and the way closed for admission to federal court. “With the basis for rate-making defined by statute, this theory of the law will hold and will overcome previous objections, such as were levied against the proposal that appeals must pass through state courts before going into federal court. “I have presented the amendment and expounded my theory of law

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regarding it to leading members of the Indianapolis bar. Without exception. they have granted its soundness; that is. those who are without big utility connections." Weiss admits, however, that the utility influence is powerful now. as it always has been in the past, and he may encounter great difficulty in securing approval for his amendment. “The utility bill already has been . emasculated so that it likely will make municipally-owned plants ; charge higher rates and make further extension of municipal ! ownership nearly impossible,” he asserted. I “About the only decent thing left in it is the clause defining the rate base, and utility lawyers, in ahd out of the legislature and administration, already are declaring that unconstitutional. A cat belonging to Dr. Russell Schaffer strayed from Home one evening. It was returned promptly through the medium of a Times Lost ad.