Indianapolis Times, Volume 45, Number 15, Indianapolis, Marion County, 29 May 1933 — Page 1

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DEATH COMES SUDDENLY TO J. P. FRENZEL Leader in Banking Circles for Many Years; End Shock to Friends. GOOD MUSIC AS HOBBY Appeared in Good Health, and Visited Office as Late as Friday. John P. Frcnz,el, 79, one of Indianapolis’ leaders in banking circles for many years, died unexpectedly at his home, 2908 North Meridian street, early today. Mr. Frenzel had been chairman of the boards of both the Indiana Trust Company and the Merchants , National bank since 1925. Prior to that he had been president of the Indiana Trust Company since its formation, in which he was one of thp founders, in 1893. He had been engaged in the banking business more than a half century, having started in it as a youth. Funeral Services Wednesday He resigned the presidency of the Indiana Trust Company to assume the chairmanship of that bank and the Merchants bank upon the death in 1925 of his brother, Otto Frenzel Sr, then president of the latter bank. Death followed an attack of arterio sclerosis. Funeral services will be conducted et 2:30 Wednesday at the home, with the Rev. Frederick R. Daries, Zion Evangelical church pastor, officiating. Burial will be in Crown Hill cemetery. Born in Madison, Ind., December 21. 1853, the son of a locomotive engineer on the Indianapolis and Madison railroad. Mr. Frenzel came to Indianapolis six years later with his parents and lived in a house on the present site of the Union station. Asa boy, he attended the German English school on Maryland street. Entering college at the age of 12, he was the youngest student at the old Christian university, forerunner of Butler university. Started as Bank Messenger His first business experience was as an employe of a shop store, at the age of 12. The same year he became a messenger for the Merchants National bank. The late Volney T. Mallot was cashier at that time. Mr. Frenzel had maintained his connection with the bank ever since that time, about sixty-seven years, working his way up to the presidency, which he retained until 1893 when he organ zed the Indiana Trust Company. He was married about forty-seven years ago to Pliillippine Bennercheidt. who survives him. Other surviving reltiaves include a brother, Fred F. Frenzel, Long Beach. Cal., and a sister. Louisa Frenzel, Indianapolis. and several nephews and nieces. Helped Organize Gas Company He helped organize the old Consumers Gas Company and the present, Citizens Gas Company, and w’as instrumental in the electrification of the city street car lines. For tweive years, 1882 to 1894, he was a member of the Indianapolis school board, serving as president several years. Mr. Frenzel was one of the strongest supporters of the public school system and took an ardent interest in welfare of the city's teachers. Ho did not belong to any lodges, confining his avocations to music end art. Mr. Frenzel was one of the city’s most interesting and likable characters. Asa banker, he bore a widespread reputation for conservatism and sound banking. He was exceedingly legular in his habits of life, many interesting stories being told by his friends and associates of this trait. Noted for Punctuality Meml rs of his two banks almost could set their watches by his activities, because of his passion for punctuality. One of his associates recalled that every evening he would mt with his watch before him. waiting for the hour of 4:35, when he would send for one of his employes %no brought checks for him to sign. Never would he perform this routine duty a moment earlier than the lisual time, and never later. Invariably, in leaving the Indiana Trust company to go to his home ke walked west on the south side of Washington street, never on the horth side, to the Illinois car line. Almost always he patronized the Street cars, enjoying the opportunity to mingle with the crowds mid study human nature. He resented the intrusion of the automobile, never owned a car and rarely rode in one. Declined Federal Post Mr. Frenzel was offered the post pf controller of the currency by President Grover Cleveland in his first term, but declined the honor. Later when Cleveland visited Indianapolis he insisted that Mr. Frenzel ride in his carriage with him. Mr. Frenzel had taken an active part in musical life of the city, being a lover of good music and art. His principal hobby was the Indianapolis Maennerchor of which he had been president many years. Despite his advanced age, he was active in the chorus up to the time of his death. His death came as a shock to his friends and business associates as he had appeared to be in good health. He had visited his office as recently as last Friday.

The Indianapolis Times Fair tonight and Tuesday; somewhat cooler tonight.

VOLUME 45—NUMBER 15

BANKER IS DEAD

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John P. Frenzel —Photo bv Bretzman. A leader in banking circles of the city for many years, John P. Frenzel, chairman of the board of the Merchants National bank and Indiana Trust Company, died unexpectedly at his home early today. Last rites will be held at 2:30 Wednesday at the home, with burial in Crown Hill cemetery. CLOSED BANK S DEALS ‘CLEARED’ ‘Bookkeeping Error’ Is Said to Explain Difference of $200,000. BY JAMES A. CARVIN Times Start Writer Doubt that any indictments wall result from grand jury investigation of affairs of the defunct State Savings and Trust Company was indicated today by Prosecutor Herbert E. Wilson. Since last week the grand jury has been studying evidence selected by Wilson from documents and other records given the prosecutor by Circuit Judge Earl R. Cox. Two transactions were selected by Wilson for investigation and it was understood today that explanations had been supplied for the acts. A $200,000 bookkeeping error in the bank records regarding obligations is said to have been offered in explanation of discrepancies in statements given to the state banking department. Obligations totaling approximately $700,000 were carried at $500,000 due to the error, rather than to criminal intent of officers, it is understood that the accounting firm of Spradling, Carter and Jordan and a former bookkeeper of the bank testified. The accounting firm was selected by Wilson to aid in the probe, because of familiarity with the bank's records, having been auditors for the bank during its operation. Despite announcement that Mrs. Ida Broo, auditor whose investigation at order of Cox precipitated the grand jury probe, would not be summoned before the grand jury, she was expected to appear today. Another transaction on which the investigation has been based is the carrying of a $40,000 deposit in the Fletcher American National bank as an asset of the State Savings. REPORT ON GOLD BILL House Banking Committee Takes Action on Repeal Measure. Ilii I iiilcit Press WASHINGTON. May 29.—The Fletcher-Steagall resolution voiding the historic "gold clause’’ in contracts was designed to prevent hoarding and "the flight of capital,” the house banking committee asserted today in its formal report on the legislation.

55 Million Dollars at Bidding of Morgan Firm

BY RI'TH FINNEY Times Special Writer WASHINGTON, May 29.—The golden card by which the House of Margon leads the American people is not made of money owned by J. P. Morgan and his partners, but of money owned by those whose throat it binds. The Morgan firm is worth approximately $53,000,000. Many others are worth more than that. But the Morgans have what no others have—influence in banks, insurance companies and corporations with assets 1,000 times as extensive as their own capital. They can, in other words, regiment something like $55,000,000,000 to do their bidding. This figure is about $18,000,000,000 larger than the whole national income of 1932. Concentration of this vast influence in banks and other institutions with money to invest gives it greater power, proportionately, than even these figures would suggest. This is the way the House of Morgan gets its grip over America's money: By putting their partners on the boards of banks. By making loans to high bank officials. Bv letting high bank officials share easy profits in syndicate deals. By inducing corporations over which it has power to deposit their money with J. P. Morgan & Cos., and then by passing on these deposits to favored banks. Thus, the Morgans stand at the cross roads taking their toll of influence over the country's most important banks by acting as the dispenser of great patronage in the form of great deposits. Insurance companies have available for investment more money than any other single institution. J. P. Morgan & Cos. has made sure

SLOT MACHINE RING IS ‘SAFE,’ CHIEFADMITS Armitages, City Politicians Named as Operators of Gaming Devices. CHARGES DO NOT ‘STICK’ Morrissey and Sergeant Tell of ‘Rumors,’ in Cox Court. Admission that city and county authorities had been informed that local politicians w r ere operators of an alleged' slot machine ring, but that no prosecution had resulted was made from the witness stand by Chief Mike Morrissey today in circuit court. Under questioning by Judge Earl R. Cox, Morrissey testified that Mayor Reginald H. Sullivan, prosecutor Herbert E. Wilson, and the safety board had been told that William H. and James Armitage, local political powers, were operators of slot machines "for many years.” Morrissey's testimony was given during a hearing on a motion by Herbert Spencer, assistant city attorney, to dissolve a temporary restraining order issued April 8, preventing police from molesting the lawful operation of vending machines operating by the Odom Sales Company. Armitayes Are Involved The names of the Armitages were placed in the court records by Cox, during questioning of Police Sergeant Edwin Kruse, who testified he had heard “rumors that the Armitages ran slot machines.” When Morrissey took the stand, Cox asked: “Chief, you know the Armitages, Bill and Jim?” “Yes.” “You know they have run slot machines in Marion county for years?” ■ “I do.” Arrested Operators “When you were a liteutenant, you arrested operators of machines owned by the Armitages?” "Yes.” “Can you remember when the Armitages ever were tried for operating slot machines?” “No, t can’t.” Morrisey explained that he had found that slot machine owners operated “under cover,” through agents and collectors. “And these agents take the fall?” Cox interjected. “Well, not fall, exactly, but these men collect the money from the machines.” Told to Officials “And turn it over to the Armitages?” Cox again interjected. “Well, I don't know about that, but it's my opinion from the information I have,"Morrissey replied. “Have you ever told this to the mayor, the safety board or Prosecutor Wilson?” Cox asked in rapid succession. “Yes,” was Morrissey’s reply. “Yet the Armitages never have been prosecuted?”’ “Well, we never get the owners with the machines,” Morrissey explained. At opening of the hearing, it was revealed by Frank Symmes, attorney representing the Odom Sales Company, that there had been no restraining order in effect snee April 27, the date set for hearing on petition for a permanent in • junction. Spencer admitted that under law (Turn to Page Two)

that this money will be readily available for purchase of the securities it issues. Hearings of the senate banking and currency committee last week developed a wealth of detail showing how Morgan reaches into the pocketbooks of depositors in the (Turn to Page Two)

Death Strikes, Poises to Strike Again —But the Race Goes On

BY JOE WILLIAMS Times Special Writer ITS late in the afternoon, a Sunday afternoon. You are sitting in a towering wooden press box at the motor speedway. A sullen, oppressive heat has settled over the place. The low-hung stands along the home stretch are filled. Back in the infield thousands of cars are parked side by side. Vendors circulate among the throng, hawk- | ing iced drinks, balloons and j souvenirs. The atmosphere is that of a county fair. The flags hang limp, motionless in the still air. Everybody is in shirt sleeves. Corn-fed maidens, dressed in gay dimities, parade the grounds. They look very nice, and very healthy. Down in the paddock—the garages—elderly people study the watchcharm machines with profound fascination. “You don't mean to tell me those little things go a hundred miles an hour?’’ “Say, brother when they don’t go a 150 they aren’t trying.” Out on the track three racing cars, their newly enameled bodies glistening in the sunlight, are

INDIANAPOLIS, MONDAY, MAY 29, 1933

On Mark! Race Is on at 6 a. m.

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Upper Left—On their mark! Ready to go! Lineup of tourists waiting for 6 a. m. and the opening of Indianapolis Speedway's east gate. Upper Right—No. 2 car in the main entrance lineup with four youths from Holdenville, Okla.. on the car's running board. They are. left to right, Hal Benson; “Doc” Wadley, high school pigskin coach; “Rusty” Sanders, the police chief's son, and Dan Rives. They pro-

SUN is meek. It is 6 a. m., Tuesday, May 30. Motors are tuned. Gears mesh. The race is on. But it's not the whirl for gold around the two-and-one-half mile oval of the Indianapolis Speedway. It's the race within that race as tourists, who have waited hours outside the Speedway's gates, run for a prize parking spot to see the annual gasoline grind. Motor cars, trucks, and hand-me-downs in the automotive line, of every size, shape, color, and license plate are in the two lines at the Speedway gates. And if the pre-race line isn’t as long this year as in the past it is made up by enthusiasm from the “We just had to see it.” “Grandma” and “Grandpa" Galway, of San Diego, Calif., in the fifth car at the main gate, enter the discussion of the merits of the beer of the states they’ve passed through with four youths from Holdenville, Okla., in No. 2 car. The Galways since December have been loitering on the road from California in their truckshanty. The whir of the 1932 race, over the radio, put the speedway-bug to biting them. Harry Downs and Gerald Merritt, Indianapolis youths, hold down first place in the line. They arrived Saturday. JOB AID BILL VOTED Senate Acts in Five Minutes to Pass Wagner Relief Measure. Bu T'nited Press WASHINGTON. May 29. The senate approved in five minutes today the Wagner bill to create a federal system of employment agencies in co-operation with the states. The bill appropriates for the system $1,500,000 for the next fiscal year and $4,000,000 annually for four years thereafter.

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The Brad, Special, shown after it plunged over the Speedway's northeast wall, Sunday.

smoking around the track, There is a sinister hum or motors that seem to bespeak the terrific power and the great perils that lay concealed under the metal, hoods.

FULL FIELD OF 42 CARS WILL BE STARTERS IN SPEEDWAY RACE

WOODIN OFFERS TO QUIT OFFICE Informs Roosevelt He Will Resign If Executive Wishes It. By T ailed Press WASHINGTON, May 29.—William H. Woodin is ready to resign as treasury secrearyt if President Roosevelt feels that his usefulness is destroyed by favors received from J. P. Morgan & Cos. in 1929, it was known today. He made this known to the President on a week-end yatching trip with Mr. Roosevelt. But from the White House came no indication of Mr. Roosevelt’s feelings regarding disclosures that his treasury chief was among the business and political leaders who received stocks from the Morgan bank at bargain prices. Senator Carter Glass (Dem., Va.) revealed that he had been threatened with death by anonymous parties accusing him of defending the Morgan company. Times Index Book-A-Day 11 Bridge 5 Broun column 4 Classified 10 Comics 11 Crossword Puzzle 9 Curious World 12 Dietz on Science . 12 Editorial 4 Financial 9 Have a Hobby 5 Hickman Theater Reviews 8 Lodge Page 8 Radio 12 Serial Story 11 Sports 6, 7 Talburt Cartoon 4 Vital Statistics 9 Woman s Page 5

'T'HIRTY-five cars already have A qualified for the annual 500mile speedway championship, set for Tuesday, the greatest test of automobile speed known to the

nounce St. Louis beer as the best 3.2 they had on their trip to the 500-mile grind. Lower Left—“ Grandpa” and “Grandma’ Galway, all the way from San Diego. Cal., and “raring” to get in. “Grandma” has just finished with a roadside skillet job of bacon frying. Lower Right—Arthur Willis, left/and Harold Trevillian. right, of Detroit, Mich., third in the main gate lineup, with their bleacher seats atop their car for the big race.

Fast Ends Gandhi Loses 19 Pounds Weight in Three Weeks Without Food. Iljl United Press POONA, India, May 29.—Mahatma Gandhi ended at noon today the twenty-one-day fast he imposed upon himself to attract world attention to the plight of 60,000,000 Hindu “untouchables,” doomed by heredity to be outcasts. Gandhi weighed eighty pounds immediately after the fast. He weighed ninety-nine three weeks ago. “I am breaking fast in His (God’s) name, with faith in Him,” he said. ”Mv faith in Him is not less today. This is an occassion for singing the glory of His name. I do not know what work God expects of me now. Whatever it may be. I know’ He will give me strength for it.” Weak, skeleton-like, swathed tightly from foot to head in white linen, his eyes glinting feverishly from behind his gold-rimmed spectacles, Gandhi turned his head weakly on his cot as the noon hour sounded, and thanked the half dozen doctors w’ho watched him anxiously. Gandhi joined in Moslem, Sikh and Hindu prayers. Not until then did he really end his fast. He took two ounces of orange juice. The orange juice had been his last nourishment when on May 8, then in Poona jail, he began the fast. Truck Load of Beer Stolen A truck and load of beer valued at S7OO were stolen early today from the Monument Bottling Company, 910 North Davidson street, and the truck later was recovered minus the brew.

world. To qualify, a car must circle the two-and-a-half-mile track ten times at a speed equalling or exceeding 100 miles an hour.

Entered as Second-Class Matter at Postortiee, Indianapolis

ELDER QUITS AS CUT OFFICIAL Resigns Controller Post on Orders of His Physician. (Picture*on naee 2) Resignation of William L. Elder as city controller was presented to Mayor Reginald H. Sullivan today. Elder stated that his physician had advised him to cease all business activity in the hope that he may recover fully from injuries incurred while walking at New York and Meridian streets. He was appointed controller by the mayor on March 11, 1930. Expressing regret that the city administration was to lose the services of Elder. Sullivan declared much of the credit for Indianapolis being one of the few larger cities still meeting its pay rolls was due Elder. Appointment of a successor may be announced late today. Elder’s resignation will become effective Thursday. STORES CLOSE TUESDAY AH Members of Merchants’ Association Will Observe Holiday. Stores operated by members of the Merchants’ Association will be closed Tuesday, Memorial day. Notice of the closing was contained in a letter to all members from W. E. Balch, association manager. Several stores operated by nonmembers of the association also will be closed all day Tuesday. Hourly Temperatures 6a. m 64 10 a. m 67 7a. m 65 11 a. m 70 Ba. m 64 12 (noon).. 70 9 a. m 66 1 p. m 71

! It is evident by now that there is to be a full field of forty-two starters, the maximum under ! racing rules. As it turns out the | fi eld is more than filled, and there , must be eliminations. These are made on the basis of speed at- ! tained in the qualifying trials. In the end, the 42 cars with the best speed performance will be sent to the starting line on tb‘ day of the race. The three cars on the track finish their trials. Two of them qualify. Another is warming up. No. 42, a blue car with red markings, called a Brady Special. The technical committee, three men whose duty it is to estimate the fitness of drivers and cars, watches the warming up process. A tall, smooth-shaven, softspoken man, wearing a straw hat, hangs languidly over the rail of , one of the pits. In the war days | he was a sensational figure. The newspapers called him the “Ace of Aces” as an American aviator, Captain Eddie Rickenbacker was an international hero. “Those fellows will be lucky to last a lap,” commented the cap(Turn to Page Twoj_

HOME EDITION PRICE TWO CENTS Outside Marion County. 3 Cents

46 Racers Pass in Trials: Four Eliminated: Two Die in Crash. SPEED MARKS PERILED Crowd in Excess of 125,000 Expected to Be Present for Classic. BY NORMAN ISAACS Times Staff Writer Undaunted by the deaths of a driving pal and his riding mechanic, forty-two of tlie world's greatest racing drivers Tuesday morning at 10 will pull away from the starting iine at the Indianapolis Motor Speedway, all in quest of victory in the twenty-first 500-mile automobile race. Indianapolis, crowded with visitors, put on its holiday appearance, gayly “carrying on.’’ while funeral arrangements were being made for Bill Denver, Audubon <Pa.) driver, and Bob Hurst, his Indianapolis mate, who were killed Sunday afternoon when their car crashed over the northeast wall. One More Qualifies Although the forty-two places in the starting lineup already were filled, one more driver qualified early today. Phil Shafer breaking into the starting lineup during an additional forty-eigiit minutes of time tests. Qualifications, scheduled to end at 7:04 Sunday evening, ended at 6:16, when a downpour of rain hit the Speedway, and officials granted the waiting race pilots the right to take their speed tests today. Must Beat 100 Miles Cars had to exceed 100 miles an hour for ten laps (twenty-five miles) and in all forty-six cars passed the test, but the four slowest were eliminated and held as auxiliary starters in the event any of the faster cars are withdrawn. Fair and cool was the weather fare promised for the race today. Downtown hotels reported their facilities taxed almost to the limit and automobiles from every state in the Union were sighted on downtown streets. Half a dozen machines were lined up at the Speedway gates, waiting for Tuesday’s 6 o’cock bomb which will swing the gates open for the mad dash acro.ss the infield by the early-comers for vantage points along the back stretch wall. Fourteen cars qualified Sunday, Babe Stapp in the Boyle Products four-cylinder car, leading the field with an average speed of 116.626 miles an hour. Death Car Starts Test Thirty-five cars had been qualified when Denver and Hurst climbed into the cockpit of the Brady Special, the same car w'hich crashed on the short south straightaway last Monday. In that crackup. in which the machine skidded 1,000 feet after bouncing into the wall, A1 Aspen and Mitzi Davis, driver and mechanic respectively, escaped serious injury. The car was reconditioned and Denver grinned happily as he clambered into the machine. “I’ll get 109 out of this bus, or bust,” he told several persons around him. “My fingers are crossed,” murmured Hurst cheerfully. Takes Warm-llp Laps Denver asked track officials if he could take three warm-up laps before starting his qualification run and they assented. The car pulled away from the starting line, picked up speed in the south turn and Denver “stepped on it” as the machine swung into the backstretch. The racer thundered down the stretch, picking up momentum swiftly. In the northeast turn, the car went into a spin. A horrified shout went up as the car plunged up the banked turn like a bullet, and hurtled over the top wall. * It crashed into a tree, landing upside down, and throwing both Denver and Hurst clear. The car burst into flames and when Track Guard Homer Pollard and two other persons, Arlie Copple and Ted Ross, reached the scene the clothes of both men were ablaze. Both Die Soon Pollard's hands were burned in ripping the burning clothes from the men. They were rushed to city hospital. Denver died in the speed(Turn to Page Two)

No Broadcast The Indianapolis 500-mile automobile race positively will not be broadcast by radio, it was announced officially today by the Speedway management. There is only one sure way to get swift, complete and correct service on the 500-mile race. Watch for The Times. At every stage of Tuesd big race there will be a Times extra on the streets of Indianapolis and at the Speedway, telling you everything you want to know. For weeks The Times has been making arrangements to cover the race flawlessly’. The arrangements are complete. Look for The Times. Then you're sure you’re right.