Indianapolis Times, Volume 45, Number 3, Indianapolis, Marion County, 15 May 1933 — Page 1

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OPEN DRIVE TO FLOAT BANK’S STOCK ISSUE Fletcher American Patrons Receive Instructions of Reorganization. CIVIC HEADS TO MEET Business Leaders of City Summoned to Parley on Thursday. Meeting of business and civic group leaders of the city has been fiei for 4 Thursday by Louis J. Borinstein, Chamber of Commerce president, to discuss organization of th n new American National bank. Although the meeting announcernent came as active campaign was started to raise $1,800,000 in stock subscriptions for the new bank, which will take over Fletcher American bank assets, Borinstein, in his invitations, ixunted out the meeting was not called "to request stock subscriptions, but to discuss problems of mutual interest.” The more than 40,000 depositors In the old bank today ieceived communications explaining the reorganization plan worked out by the federal government, which members of the reorganization committee spent the week-end preparing for mailing. Three Are Trustees The letters included blanks for depositors to agree to the plan of freeing 50 per cent of the present restricted accounts, and impounding the remaining 50 per cent until $10,670,000 in non-liquid assets can be liquidated by three trustees. These trustees are Frank C. Bopp, bank employe; Roy C. Shaneberger, Progress laundry president, and Lucius S. French, Trimble Realty Company. In his invitation to civic leaders to attend the conference Thursday, Borinstein said: “Frankly, the American National bank must be organized for the good of the city and state. Opportunity to do so has been afforded by governmental agencies on a basis that will assure an institution of great strength and stability. Failure means that a large amount of deposits in the Fletcher American National bank and its many correspondent banks would be tied up for a very long time. Business Would Suffer "It means, also, the forced liquidation of loans of the present institution at a probable loss, and such an eventuality would be most unfortunate to business. "Your business and that of many other citizens would suffer. Many of the smaller communities, whose banks are closed, in part, at least, due to the fact this bank has not yet reopened, would be subjected to great distress. "The bank officers and directors are meeting their responsibilities fully and doing all in their power to effect the organization promptly. This, however, is more than just an affair of this bank or its officers. “It is a civic problem of direct concern to the entire community. It must be met promptly and fully. Only teamwork of such loyal citizens as yourself will assure that Indianapolis successfully passes this crisis.” One-Third Is Pledged Depositors also were informed they will be permitted to subscribe for stock to the extent of half the amount, of their freed accounts, but may not subscribe on the strength of their impounded accounts. One-third of the stock has been pledged by stockholders in the old bank. Sale of the stock is required by the government, which through the Reconstruction Finance Corporation is taking $1,800,000 in preferred stock and making the bank a $1,200.00 loan. Consent ot depositors holding 75 per cent of the present restricted deposits must be obtained before the plan can be effective. Bank officials are confident that eventually depositors will receive 100 per cent of their restricted deposits. HEAD OF CLOSED CHAIN OF BANKS SENTENCED John H. Rain Pleads Guilty to Embezzlement Charge. B;i I nil'll Trc* CHICAGO. May 15.—John H. Bain, head of a string of banks that failed for $13,000,000 last year, pleaded guilty to charges of embezzlement in Criminal Court. Judge James F. Fardy's courtroom today and was sentenced to one to three years in Joliet pententiary. John Bain Jr., a son. and W. Fisher, son-in-law, also pleaded guilty and received similar sentences. Times Index Page Book a Day 13 Bridge 6 Classified 12 Comics 13 Crossword Puzzle 11 Curious World 11 Editorial 4 Financial 11 Have a Hobby—Stamps 7 Heywood Broun 4 Hickman Theater Reviews 6 Kirby Cartoon 4 Lodge Page 6 McNutt's Life Story 3 Obituaries 7 Radio 9 Serial Story 13 Sports 10 Vital Statistics 11 Woman s Page 8

The Indianapolis Times Cloudy tonight and Tuesday, with rain tonight; somewhat warmer Tuesday.

VOLUME 45—NUMBER 3

Ernest Torrence, Veteran Movie Character Actor, Is Claimed by Death

Ernest Torrence, veteran character actor, has been claimed by death in New York. H;s latest photo is shown at left, while at right are three of his great character roles: Top, in "North of 36”; center, as Cousin Egbert in "Ruggles of Red Gap,” and bottom, as Clopin in “The Hunchback of Notre Dame.”

Complications Following Abdominal Operation Are Fatal. /?.*/ t fiitrd Err/tg NEW YORK. May 15,-Ernest Torrence, veteran character actor, died at Lenox Hill hospital today of complications following an abdominal operation. He became ill several weeks ago as he was about to board a ship for a European vacation, and was removed to the hospital on a stretcher. Torrence was considered one of Hollywood's most versatile actors. He could enact the role of the most malevolent of villains with the same finesse as that of a kindly patriarch. Tall, loose jointed, big eyed, he was one of the most popular members of the film colony. Started as Pianist Oddly, Torrence began his career as a concert pianist in Edinburgh, Scotland, where he was born. He was educated at private and public schools and at the Edinburgh Academy of Music, the conservatorium at Stuttgart, Germany, and the Royal Academy of Music in London. Despite his skill at the piano his friends urged him to study voice, and eventually he did. He started singing professionally in 1900. and was awarded the Royal Academy of Music medal for operatic work. The next year he became the leading baritone of the Savoy Opera Company of London. Lured by offers of lucrative contracts. Torrence went into musical comedy. Appeared in Many Successes He came to the United States, and became interested in motion pictures. Because of his stature—he was 6 feet 4 —and shaggy, over hanging eyebrows, producers and directors classified him as a'•‘dirty dog heavy.” This confinement to one type of role made him unhappy, until Jesse L. Lasky heard of his ambitions to be a character actor. Among his film successes were "The Covered Wagon.” "Ruggles of Red Gap." "North of 36.” "Peter Pan." "The King of Kings.” and "Mantrap." Recently he completed work in "I Cover the Waterfront.” He is survived by a wife and a 26-year-old son. Ernest Torrence Jr.

$35,000 Overcharge Laid to Power Firm by City

Recovery of $35,000 which, it is alleged, the Indianapolis Power and Light Company overcharged the city for electric current for 114 tr .s----sic signals since 1928. will be asked in a petition to be filed today with the public service commission, it is announced by Charles R. Myers safety board president. Myers asserted board and company representatives met Friday to discuss a refund, but the company refused to act. According to Myers, the city paid for current last year on a basis of estimates of consumption, which he asserts were found far too high on the basis of reading of a meter that had been installed in a traffic signal at Washington and East streets. At that point, the meter showed consumption of SSO a month less than estimated, Myers says.

M'NUTT OUSTS WARDEN DALY State Prison Post Goes to Louis Kunkel, Upstate Political Boss. The political ax fell today on Warden Walter H. Daly of the Indiana state prison when Governor Paul V. McNutt announced Daly will be succeeded June 1 by Louis E. Kunkel, Michigan City attorney and active McNutt-for-Governor adherent. Although the Governor made no announcement of Daly's future, it was reported reliably he would be offered the post of assistant warden. Daly had been connected with the prison in various capacities for thirty-two years and has been warden since 1925. Kunkel, University of Michigan law graduate and former Evansville resident, has served two terms as La Porte county prosecutor and has obtained much Democratic patronage for La Porte county. The warden post carries $4,000 a year salary and maintenance.

Break Pa tronage Deadlock, Hosinski Named Marshal

Bii Timm Special WASHINGTON, May 15.—The deadlock on federal patronage in Indiana was broken today when President Roosevelt sent to the senate for confirmation the name of A1 W. Hosinski, of South Bend, to be marshal for the northern Indiana judicial district. It is believed that within a few days the President will also send up the name of James Fleming of Portland, to be United States attorney for the northern district. Like Hosinski. Fleming is sponsored by Senator Frederick Van Nuys, and has the unanimous backing of the Deomcratic organization in the state'. The present district attorney, Oliver M. Loomis. Republican, has signified a desire to resume private

All the signal lights now are on meters. Contract for current for operating the lights was signed by the city and company in 1925. Myers explained there is no method of checking the consumption for years between 1925 and 1928. Refund of 51.500 was made by the company on the basis of the showing of the meter at East and Washington streets, Myers said. Meter readings as a whole show consumption is from one-third to one-half less than the estimates, he continued. Besides this saving. Myers pointed out another S3OO a month cut in operating cost of the signal system has been made by use of forty instead of sixty-watt bulbs.

FIRST INSTALLMENT OF THE LIFE STORY OF GOVERNOR PAUL V. M’NUTT APPEARS TODAY ON PAGE THREE.

INDIANAPOLIS, MONDAY, MAY 15, 1933

WORLD PEACE MAY HINGE ON HITLERWORDS Chancellor's Speech This Week on Foreign Policy Is Awaited. FEAR TREATY DEFIANCE Action Would Plunge Globe in Arms Race: Menace Economic Parley. Bv t'nitfd Press Debt, disarmament, Hitlerism and war whirled through the minds of European statesmen today. Norman H. Davis, American ambassador at large to Europe, was in Paris trying to persuade Joseph Paul-Boncour, foreign minister, to make a temperate reply to any possible blood and iron in the speech Adolf Hitler, Nazi chancellor, is to make on foreign policy Wednesday before the German reichstag. Hope that Hitler might make a conciliatory speech was dimmed by the week-end speech of Franz von Papen, vice chancellor, whose tone was indicated by the statement that Germany could not be "robbed” of her vital rights. French to Default Debt The French chambter of deputies meets Tuesday, and the League of Nations disarmament commission Thursday. As regards debts, there seemed little prospect that the government would make any proposal to the chamber for payment of either the defaulted December payment on the American debt or the prospective June 15 installment. The eager grasp at the hope of economic peace slipped a bit more today with announcement that British-Swedish and British-Nor-wegian trade agreements had been signed. Hitler Faces Opposition As for Hitlerism, it has been made clear that the Nazi leader will meet determined opposition in any bellicose statements he may make. Popular opinion in Britain was shown when Hitler’s special envoy, Dr. Alfred Rosenberg, was hissed as he left for Berlin. Great interest was shown abroad, too, in the boycott of Germany agreed to in the United States by the American League for the Defense of Jewish rights, in protest against Hitler’s anti-Semitism. World Peace at Stake BY WILLIAM THILIP SIMMS Scripps-Howard Foreign Editor WASHINGTON, May 15.—The Washington naval treaty of 1921, the future naval and aircraft building program of the United States, the world economic conference at London and even world peace, may hige upon the words to be pronounced Wednesday by Chancellor Adolf Hitler in Berlin. Official and diplomatic circles here make no effort to conceal their anxiety over what they call the gravest political crisis Europe or the world has faced since the summer of 1914. Should the Nazi chieftain defy existing treaties, and announce Germany’s final intention to rearm, it would take a miracle to save the world from fresh disaster. President Roosevelt, Prime Minister MacDonald, former Premier Her(Turn to Page Nine)

practice. His,term expired almost a year ago. Hoskinski's is the first major apponitment in Indiana. Although Val Nolan of Evansville already has assumed the office of United States attorney for the southern district, he is serving under a temporary appointment at the hands of Federal Judge Baltell. President Roosevelt has not as yet given his formal approval. Will Smith, Indianapolis, may not receive his designation as collector of internal revneue for several days, since all collectorships appointments haev been held up awaiting senate confirmation of Guy Helvering of Kansas, nominated by the President to be commissioner of internal revenue. Today's Short Story A double house with both sides vacant and the taxes to pay is not a very profitable investment. Realizing this, Edward Holtzman called Times Want Ad Headquarters and placed an ad listing the double for rent at sl6 a side. The ad was ordered canceled at the end of the second day, as eight persons had offered to rent the property. Here is the ad that contained fourteen words and cost 76 cents for two days and rented both sides of the double for a total monthly income of $32 a month: DREXEL. X.—Runcalow double: reduced from 5‘!2.50 to Slfi; water paid. Call next door north. RESULTS AT 3c A WORD—The above story is typical of the many which testify to the result power of TWA at 3 cents a word. Cail Riley 5551 or come to Want Ad Headquarters. 214 West Maryland street. Hourly Temperatures 6 a. m 61 10 a. m 56 7a. m 60 11 a. m 56 8 a. m 59 12 moon).. 58 9a. m 53 Ip. m 60

SIX DROWNED, PROPERTY LOSS IS PAST MILLION IN STATE FLOODS

PLAYMATES DIE IN FLOODED REGION OF CITY

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Sales Tax as Part of Big Revival Program Argued

By United Pres* WASHINGTON. May 15. —President Roosevelt today summoned a final conference of congressional leaders to consider the administration's unparalleled “revival of industry” bill involving control of production and a huge public works program. The conferees were expected to discuss at length the proposed sales tax method of financing the $3,300,000 public works plan. Among those called to the conference, which was scheduled for this afternoon, were House Majority Leader Byrns, Speaker Rainey and Chairman Doughton of the house ways and means committee, which 1 will handle the controversial legislation. As the conferees prepared to meet, a revised draft of the business program was ready for their consideration, tentatively including a small general sales tax to finance a construction bond issue of $3,300,000,000. Congressional leaders outlined the proposed measure as relying on • planned production” as the way out of present economic difficulties. The new bill, they said, will include : A provision wnereby trade associations representing an industry may. with federal aproval. fix hours of labor, wages, production schedules. and suspend the anti-trust laws wherever necessary.

Upper—Francis J. Shannon. Lower (left) —Francis W. Wilson, and (right) Louis E. Garshwiler. PLAYMATES almost from babyhood died together Sunday when high water near the plant of the American Aggregates Corporation on West Raymond street claimed Francis J. Shannon, 13, of 1133 South Senate avenue, and Francis W. Wilson, 14, of 1038 South Senate avenue. With Louis E. Garshwiler, 15. of 1022 South Senate avenue, the boys were watching the high water, when they decided to wade. They had waded only a short distance when they stepped into a hole sixteen feet deep. Garshwiler made an effort to save them, but was forced to turn back after water reached to his chin.

i Authority for the President to issue "planning” orders for and whenever the business men themselves fail to take action. Appointment of a “federal director” to supervise the whole industry revival program. A federal bond issue of $3,300,000,000 for public works construc- | tion. COUSIN OF CHICAGO’S ‘BOMBING KING' IS SLAIN Body, Riddled With Bullets, is Found Trussed in Auto. CHICAGO. May 15. Rocco Bel- | castro. cousin of James Belcastro, ! “king of the bombers.” fell victim today of a typical gang ride. His body, shot a half dozen times, was found trussed in an automobile on the northwest side. Belcastro, wanted by police for numerous petty racketeering crimes, was a member of the “circus” gang, a criminal group known for its bombing activij ties.” The death of Belcastro was believed by police to be linked with . recent widespread drives against racketeering and bombings. Vandals Loot Vacant House Light fixtures and window shades valued at SSO were stolen Sunday afternoon from a vacant house at : 610 East Twelfth street, owned by iH. W. Nordyke, 216 East Thirty- ! second street.

Entered as Second-Class Matter at Postoffice, Indianapolis

Two Lads Are Victims Here; Waters Are Receding’ in Central Indiana, but Are Going Up in South. HUNDREDS AT WORK ON LEVEES West Street Gauge on White River Is Above Deluge Stage, With Slow Rise Being Registered. Six persons were drowned, including two Indianapolis boys, in flood waters during the week-end. Marion county flood loss estimated at $50,000. Indiana loss totals $1,500,000. White river falling at West Tenth street measuring station, but reported rising in Warflei'gh. Additional rains today and tonight may increase flood danger. Works board members, in survey today, said situation at Warfleigh and at Raymond street and White river still is dangerous. County and city bridges still intact. Ravenswood, River Park, and other northeast river suburbs were deserted by residents during the week-end. Thousands of motorists Sunday caused traffic jams near the flood areas. Added police protection placed in flooded territories. Flood toll in Indiana during the week-end was six deaths by drowning, two of them in Indianapolis, and damage estimated at $1,500,000, of which $50,000 is in Marion county. Here and elsewhere in central Indiana, the situation was improved today, with a minor rise in Indianapolis, but downstream on the Wabash and White river, the water is rising. Stages above flood mark are expected at Elliston and Edwardsport on the west fork of the White, and at Shoals on the east fork.

The Wabash is falling past Covington, but rising at Terre Haute, with above flood mark stages forecast there and at Vincennes. Sandbags are being piled today against Wabash and White river levees near Vincennes and gates of anew flood wall have been closed. Evansville Is Menaced Evansville and other southern Indiana cities in the Ohio river valley face flood menace, as the river is four feet above flood stage at Cincinnati, where three persons lost their lives and $250,000 damage was caused. Latest reading shows White river at the West street gauge is onetenth foot above flood stage and rising slowly. At Warfleigh. unofficial observers stated early this afternoon that the river is within eight inches of the I crest reached Saturday and rising at the rate of one-thenth foot an hour. Thousands Visit Scene Thousands of motorists visited I the various flood sections Sunday. Hundreds of men worked, piling I sandbags, slabs of stone, and concrete to protect levees. Flood conditions continue today at Warfleigh, Ravenswood, River Park, Rocky Ripple, section near the Fall creek station of the Indianapolis Water Company, section of Raymond street near White river, Michigan street at Big Four railroad crossing, and in the vicinity of the Speedway, Perry stadium, Riverside park, and the Coffin, Riverside, and South Grove golf courses. The drowning victims were: Francis J. Shannon, 13, of 1133 South Senate avenue. Francis W. Wilson, 14, of 1038 South Senate avenue. Marion Stephens. 16, Rushville. Arthur Lee Dolph Jr., 3, Anderson. Fred Ellerman Jr., 2. Vincennes. Jesse Mayfield. 41, Terre Haute. Rescue Attempt Fails The Shannon and Wilson boys were drowned Sunday afternoon sh sixteen feet of water near the plant of the American Aggregates Corporation on West Raymond street, where a road had been undermined close to a gravel pit of the company. Louis E. Garshwiler, 15, of 1022 South Senate avenue, made an attempt at rescue, stepping into water which reached to his neck after hearing a shout from one of the doomed boys. Garshwiler said he held out a stick to young Wilson, but the boy made no effort to seize it. Shortly afterward, both boys sank. Garshwiler called police by telephone and officers arrived speedily, a squad car being only a block and a half away. The bodies of the boys were recovered in less than an hour. Forty j minutes were spent in resuscitation efforts by Sergeant Frank Owen, other police and a fire department rescue squad. Playmates for Years The Shannon boy. son of Mrs. Mary Shannon, widow of Dennis Shannon. was a seventh grade pupil in St. John’s school. Besides his mother, he leaves two brothers, Fred 24 and Edward 20, and a sister Mary, 15. Mr. and Mrs. Scott Wilson are parents of the other drowning victim. He had a brother John, and a sister Virginia. He was a seventh grade pupil in Sacred Heart school. The boys had been playmates most of their lives. Stephens was drowned at Rush-

HOME EDITION PRICE TWO CENTS Outside Marion County, 3 Cent*

ville when he fell into a pond created by a heavy rainfall. Backwater of White river claimed the Dolph boy within 100 feet of his home at Anderson. Falls Into Creek The Ellerman child ftll into a swollen creek along the bank of ; which he was walking with a ! brother and a sister. Mayfield and a horse he was riding fell into the Wabash river Mayfield perished, but the horse swam to safety. Whether rain forecast for tonight will be of sufficient volume to cause a rise in streams could not be stated by the local United States weather bureau. Breaking of a levee at Anderson has lessened danger of the Warfleigh levee going out, according to H. W. Cassady, flood prevention superintendent. Crest of the flood was reached here late Saturday night, but stages remained unchanged for several hours. Fall was noted at the Sixty-fourth street White river bridge at 4 Sunday morning. Fear still is held that the Olin avenue bridge over Eagle creek may collapse. Eighty-sixth street White river bridge, in danger Saturday, was in a better situation today. Removal of families from Warfleigh and River park continued Sunday. Nearly all inhabitants of Ravenswood left Saturday. Power Plant Threatened Doors of the power plant of the Sunnyside sanitarium are banked today, after a narrow escape Saturday from having fires under boilers extinguished by spreading water. One of the most spectacular points in the flood areas is at the Fall creek station of the water company. Except for bridges, it would have been impossible to determine what was the real course of the creek, as the water was flowing swiftly over a wide area. The Showboat, night club on the creek bank near the station, was closed Sunday. Water was up several feet on the creek side of the building. A dam over which water is flowing has the appearance of a miniature Niagara. Families Are Routed Elsewhere in the state where flood conditions prevailed Saturday, the situation was reported better today, including Anderson, Noblesville, Kokomo, Rushville, and Seymour. Three families were forced to leave their homes near Centerton, Morgan county, Saturday night. Water four feet deep covers lowlands in that section. Eleven Indiana roads are affected by high water. Conditions as reported to the state highway commission are as follows: Road 18. blocked east of Brookston; 40, covered by eighteen inches of water at West Terre Haute, but still in use: 41. traffic going through one foot of water north of Attica; 55, still closed. Road Is Inundated Road 35, blocked north of Brownstown, and one-way traffic in effect north of Salem; 44. covered by water between Franklin and Shelbyville, with marked detour; 50, traffic still going through between Lawrenceburg and Aurora, and closed at Medora; 56. blocked from Lamb to Vevay, detour marked. Water covers road 36 between Aurora and Rising Sun. but it is not expected it will be closed; 58, closed from Garden City to Ooltc, and 156, closed between Patrot and Risng Sun, detour marked.