Indianapolis Times, Volume 44, Number 269, Indianapolis, Marion County, 21 March 1933 — Page 12

PAGE 12

SPECULATION BY BANKERS MAIN REFORM TARGET Sentiment Growing Rapidly for Rigid Code for U. S. Investors. Fftllnwlnf ia the l*t of three <H<patrhea eonrerninr the impending fight ever banking reform. BY RAYMOND CLAPPER I nlted Pre Staff Correspondent (Coovrleht. 1933. bv United Prewo WASHINGTON, March 21. Speculating with funds of depositors must be stamped out of the banking business, in the opinion of those now considering bank reforms as a result of the recent crisis. This view was strengthened by recent disclosures of what insiders did in the National City bank and its affiliated selling organization. President Roosevelt gave further momentum to it in his inaugural address when he declared speculation with depositors' money must stop. The necessity for action in this direction will increase further if the present tendency toward strong nationalized banking and absorption of state banks into the federal system continues. Aldrich Blow Hardest Such a centralizing tendency would throw the nation’s banking activities more and more into the hands of big city banks, making more costly than ever loose and unsuccessful speculation such as has been seen in recent years. The most powerful blow of all thus far has been struck by one of the high priests of high finance, Winthrop W. Aldrich, head of Chase National bank and a brother-in-law of John D. Rockefeller Jr. More emphatically than most congressional critics of speculating bankers. Aldrich declared recently that banks handling depositors’ funds—the regular commercial bank —-must divest themselves of stock market operations, stock and bond selling activities, and the other speculative enterprises which have been responsible for heavy losses. This is one of the objects of the Glass banking bill. Serving Two Masters Many big banks have maintained subsidiaries, with identical officers, and separated only by the technical legal hair-line required by law. They have made huge industrial or foreign loans and then, seeing them turning bad, have sold stock and “bailed out the bank.” Depositors went to the bank to put their money in safe hands, trusting to their banker to advise them wisely as to safe investments. But the banker, in some cases, was playing a double role. He was taking their money and presumably advising them as to sound investments. At the same time he was acting as a stock promoter, committed to selling as much stock as he could in issues sponsored by his bank. He was serving two masters and. as it has frequently turned out, the depositor was served last. TREATMENT IS GIVEN VICTIM OF MAO DOG Apartment Building Janitor, Three Children Are Aided. William Murphy, who with four children who attend School 32, was bitten by a mad dog a week ago, is not employed as a janitor at the school as stated in The Times of last Friday, but is so employed in an apartment building at 2020 North Illinois street, near the school. Murphy and three of the children are taking the Pasteur treatment. He was injured when he seized the dog, a small Eskimo Spitz, hoping to protect other children w r ho were leaving the school for lunch. He was bitten several times on the hands and arms. The ParentTeacher Association of the school is paying his expenses in connection with the treatment. MISSING BOYS SOUGHT Information Asked Concerning Two Runaway Lads. The Times has been asked to seek information to the whereabouts of George LefTerts, 14. of 815 Olive street, and Raymond Ward, age and address unknown, who have been missing since Thursday when they started to school. The LefTerts boy has a rod heart tatooed on his right arm. The Ward boy has a brother in Chicago and it is believed both boys may have gone there.

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Let’s Explore Your Mind

BY DR. ALBERT EDWARD WIGGAM, D. Sc.

a y jjk jiyi J £?)r\ 1 SVf HA6 MODERN use llVßlll p*/A * £jh / L OIMINI6UEO Pl|\ MA MATURE 0 111 divine right to |< l ■ „us .. -t 'i 1 ...M

1. No. Had women not always admired fighters and athletes, and been proud to wm their love and bear their children this “so-called human race” would have petered out ages ago. We are descended in a straight line from such men and women and inherit their tendencies. However, such a girl would require brains and character as well as brawn. Now, the man’s side. Men always have admired women of social standing for two psychological reasons: First, because of the power and importance such social prestige gives them, and, second, as numerous scientific studies have shown, because the majority of such women are above average in good looks, health, intelligence, and character. Had the man not w T on athletic laurels, she never would have noticed him. If she had had low social standing and no education, he w'ould have passed her by. 2. Yes. at any time of life. Psychologists know many ways to accomplish this. One of the

Chamlee Is Grateful for Early Choir Training Leading Tenor of the Metropolitan Opera Company Will Close Season of Civic Music Association. THE choir and the college glee club served to bring out the voice of Mario Chamlee, who will give a recital at Caleb Mills Hall Thursday night, bringing the singer and his friends to a realization of the beauty and power of his voice. Chamlee's father was a minister in los Angeles, and thus the young man naturally took to church music as the first medium for expressing the beauty of his voice. The elder Chamlee looked upon the entertainment world with disfavor. however, and thus it was not until young Chamlee had been repeatedly commended for his singing on the University of Southern Cali-

fornia Glee Club and in a touring minstrel company associated with the university, that he seriously decided to pursue a career as a singer. His progress was marked by disappointing failure at first, partly caused by the fact that he received no help from his father, whose conventions would not permit him to aid the young tenor. However, Chamlee is gifted with remarkable perseverance and after interesting experiences with the Argonne Players in France, he won his way to a distinguished place as leading tenor with the Metropolitan Opera Company. His voice has often been likened to that of Caruso. He will close the season of the Civic Music Association.

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best is to practice public speaking. It formerly was my privilege to teach classes of business executives in public speaking. Often these men and women were from 50 to 60 years old. Their improvement in poise, force and personal effectiveness was often amazing. They were required to stand up before the class and deliver talks; both off-hand and prepared. Each talk, both subject matter and delivery, then was criticised by the class. Tough treatment, but it works. Get up a class and try it. Other methods will be*nentioned from time to time. 3. Decidedly. The emancipation of women and all our education tends in that direction. The oncoming generation is the first to grow up with the belief that marriage is o . affair of comradeship, common interests, mutual forbearance and common goals in life. We slowly are headed toward a finer and loftier ideal of marriage.

Willie and Eugene Howard in “The Scandals” on the stage at the Indiana and “The Parachute Jumper” on the screen, “Red Dust” at the ! Palace, Mercedes on the stage and “The Woman Accused” at the | Circle, “Our Betters” at the Apollo, i burlesque at the Rialto, “Men Are ' Such Fools” at the Talbott, “Monkey’s Paw” at the Belmont, and “My Pal the King” at the Daisy. Russia to Be Discussed Conditions in Russia where he spent nearly four years, will be the topic of Major Franklin Glenn, United States army engineer, speaker for the Lions Club luncheon at the Washington Wednesday.

THE INDIANAPOLIS TIMES

‘LIL ARM TO I MAKE RACE AS ‘MODELOM924’ Robinson !s ‘Transformed Into Great Statesman’ — But on What Issues! BY RAY TUCKER Times Special Writer WASHINGTON, March 21.—Somebody is doing things to “Lil Artha” j Robinson of Indiana, coaching him and wising him up t-o ways to es- { cape defeat when he runs again in 1934. Robinson never has been a par- ] ticularly energetic individual. Like his former colleague, “Jim” Watson. | he ran with the crowd—and with | sheets fluttering in the wind— ; | whichever way the crowd was run- i j ning. One must be all things to all! ■ men to stay on top in the Hoosier ! state’s hotsy-totsy system of pollitics. Even the astute “Jim” couldn’t I keep up with the veering trends of public opinion, and suffered defeat last fall. It is this disaster, in the opinion of his friends, w r hich has transformed “Lil Artha” into a man ! engaged in momentous issues. Apparently unmindful of the new’ temper of a people sore at the old system, the old issues, the old bugai boos, he is grooming himself to seek j re-election in 1934 as a 1924 model candidate. A Whole New Style Not so long ago he chased the j British ambassador off the senate | floor, thus demonstrating the undefiled purity of his Americanism. When the nomination of Robert | W. Bingham as ambassador to the Court of St. James was submitted j to the senate, the Hoosierite held it up. His objection was that Bingham once delivered an address praising the League of Nations and expressing a desire for closer AngloAmerican relations. But "Lil Artha” was seen best in his new role during his speech against the veterans’ economy act. Exhibiting an entirely new oratorical style, the unimaginative Hoosier quoted poetry—sometimes without quotes or giving credit to Shake- j speare, Sir Walter Scott, Byron and Francis Scott Key —and every paragraph concluded with a red-white-and-blue peroration. There were, indeed, more perorations than punctuation. A Laugh for Borah But the most' peculiar part of the performance was that Robinson had to read his lyric. Lofty sentiments may have bubbled up from his soul, and there was little doubt of his conviction that what he uttered was true, but the senate rarely lias witnessed so fervid a Savonaro a who

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depended so wholly upon the type-; written sheets in his hand. It was as if William Jennings ! Bryan had to thumb through the Bible each time he sought to intersperse an oration with a biblical reference. Since there are few real orators ’ in the senate, not many seemed to j notice the act. But William E. Borah, a speaker who mingles spontaneity of feeling with excellent technique, enjoyed the sc*>ne tremendously. He did not once take his eyes off the emotional, energetic senator from Indiana, and an amused, cynical smile semed to play about the corners of his lips.

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STETSON WILL SPEAK Policies to Safeguard Nation's Schools Will Be Outlined. Policies to safeguard schools in the economic crisis will be outlined by Paul C. Stetson, school superintendent, at the Indianapolis Kiwanis Club luncheon Wednesday.

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—MARCH 21, 1933