Indianapolis Times, Volume 45, Number 17, Indianapolis, Marion County, 31 May 1933 — Page 7

MAY 31, 1033

Today and Tomorrow BY WALTER LIPFMANN

'T'O any one who reads the vast. A mass of testimony during the first week of the Morgan inquiry, certain conclusions arc, I think, clear Th firm is the center of an

immense network of power and influence v embracing the largest corporations in ■almost every Ime of activity. While there is no evidence as yet that the firm has had a monopoly of the investment market. it is abundantly clear that it has controlled a huge pool of capital, and that by its

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prestige and its connections it has exercised a towering influence upon American corporate financing. It also hat been made clear that this great power is almost entirely unregulated by law or by public opinion. All the essential decisions have been private and, but for the debacle of 192'J and the investigation which it now his produced, the operation of this financial system probably would have continued to be private and largely undisclosed. The only ch°ck upon it has been | the conscience of the firm and its ! hanking traditions. Now, the possession of such great power by private individuals who j are not publicly accountable is a ! principle irreconcilable with any sound conception of a democratic state. The only terms on which such a vast private power could in prac- , tice be tolerable would be that it was exercised in the spirit of the > most scrupulous trusteeship and I with a far-sighted conception of; public policy. a tt tt THE testimony has shown that at least, in the period under investigation, that is to say, in the years of the great boom, the House of Morgan not only had exercised! a wise restraint upon the specula- \ tivo craze, but. participated in it and j profited largely by it. Any one who looks only at the j record of the securities publicly offered, and sees that out of six billions of bonds only three issues even are now in default, would have to concede that the House of Morgan has been exceptionally prudent and successful in the issues which it sponsored indirectly, such as the stock of the Allegheny Corporation and of the United Corporation. ft is here that, one encounters the preferred lists and the great speculative profits. It is these transactions which demonstrate the dangers and the j social injustice of such great power without full disclosure and complete public accountability. They demonstrate that no set of j men, however honorable they may j be and however good their tradi- J lions, can be trusted with so much private power and the opportunities for personal gain which it carries with it. $t o tt npHE most discouraging aspect of A the testimony of Mr. Morgan and Mr. Whitney is the assumption j that all these transactions can be explained away and that no impor- j tanl reforms are necessary or de-! sirable. They might have taken a quite different line. They might have said tbat. in the mad materialism of the twenties, when the whole nation was in a fever of acquisitiveness. when the national leaders were celebrating the greatness of Mammon, when the people were voting by huge majorities for politicians who promised that the boom would continue, they, too, lost, their bearings. tt tt a f'j'MlE problem posed by this inI quiry is as difficult as any which the nation has to deal with. The only thing which is entirely clear about it as yet is that this power is too great for private individuals. At the same time it has to be recognized that in any economic system the flow, of capital into enterprise lias to be directed, and whoever directs it has the greatest economic power in the land. The great majority of the people me thoroughly convinced that they do not like the way Wall Street has exercised this power. They are. I believe, equally convinced that! they do not wish this power exer- I cised by Washington. It follows that the line of ac-1 tion must necessarily be to regulate further by law the private direction of capital investment. Such regulation would have to seek to prevent not only the spectacular evils which have been disclosed. the huge profits, the pyramiding of. stocks and bonds, the privileges of insiders and favorites. It would have also to reduce the sheer power of so much privately directed money. And finally, as I believe the inquiry is bound eventually to demonstrate, the new legislation will have to attempt to introduce a conception of investment planned with a view to public service which would replace the acquisitive and highly competitive method of financing which now prevails. It is not easy to conceive of measures which would achieve these

3. t (including all ingredients) Make Iced Tea this NEW SALADA Way 1. Put five taaipoonfuli of S. Add juice of half--lcmon Salad* Tea In teapot 6. Add one-third cup of auger t. Add one quart Bolling 7. p|, et |„ ff f r I#r , or (bubbling boiling) water thoroughly chili 3. Let itcep for five minute* |. Add amall cube of Ice to 4. Strain Into pitcher each glasa juit beforeaervlng muE iC£l> Y&A 5H “Fireah from the Gardena”

—Dietz on Science— NINE KINDS OF WATER KNOWN TO CHEMISTS; Difference Found Due to Structure of Oxygen, Hydrogen. BY DAVID DIETZ Scrlpps-Howard Science Editor Nine kinds of water now are ; known to scientists. Perhaps this fact, better than any other, repre-i sents the rapid strides of science | and the complex nature of modern knowledge. For years, chemists have regarded chemically pure water as a standard thing, something always the same, which could be used as a basis for various comparisons and measurements. Thus, for example, zero on the Centigrade scale was determined as the freezing point of water and 100 degrees as the boiling point of water. But from now on it will be necessary to specify the variety of water ! under consideration. AH nine of them are composed of j hydrogen and oxygen in the wellknown two-to-one ratio. In-so-far; as their chemical reactions are con- 1 cerned, all the varieties of water are alike. However, they differ in physical qualities. The primary difference is in their weights. There are also slight differences in their boiling and freezing points and in certain other characteristics. Atoms in Two Types The different kinds of water exist j because there are different kinds of j hydrogen and oxygen. Researches of the last few years have revealed that there are two kinds of hydrogen atoms. One is twice as heavy as the other. In addition, there are three kinds of oxygen atoms. Atoms which are alike in every way except weight are known to scientists as isotopes. Atomaci weights are expressed by comparison with the lightest of the oxygen atoms which is rated at sixteen. The other two isotopes of oxygen have atomic weights of seventeen and eighteen. The light atom of hydrogen has an atomic weight of 1.008. The heavy atom of hydrogen, which the savants of the California Institute of Technology have christened the j “deuton,” has an atomic weight of 2.016. Samples Are Prepared Each molecule of water, as is well j known, consists of one atom of oxy- j gen and two atoms of hydrogen, j The lightest passible water would consist of molecules made up of the j lighter hydrogen and oxygen atoms. Its molecular weight would be 16 i plus 1.008 plus another 1.008 or a ! total of 18,016. The heaviest passible water would! consist of molecules built of the i heavier atom;;. Its molecular weight j would be 18 plus 1.016 plus another 1.016. or a total of 20.032. Ordinary, samples of water are a mixture of all the forms of water. A number of laboratories, however, have been able to prepare samples in which someone form dominated. Professor G. N. Lewis of the University of California, has succeeded in preparing samples which contained about 35 per cent of the heaviest form of water. Chlorine Is Analyzed The term ‘'isotope” first was suggested by Professor Frederick Soddy of Great Britain, in 1913. At that time, he predicted that investigation would disclose lead atoms of two different weights, one resulting from the radio-active disintegration of uranium and the other from the disintegration of thorium. In 1919, the construction of an apparatus known as the mass spectrograph revealed that neon consisted of two isotopes. The next element successfully analyzed was chlorine. Since then, it has been established that a majority of the chemical elements consist of Isotopes. Tin has no less than eleven Isotopes. 58 ON SUMMER STAFF Butler I\ Will Begin Hot Weather Classes on June 13. Annual session of the Butler university summer school will begin June 13 with fifty-eight faculty members comprising the instructional staff and an anticipated enrollment of more than 750 students. From its foundation in 1896 with | a handful of students and only a j few courses, the summer school has j grown steadily until now the curri- j culum embraces nineteen courses. Commercial courses and the de- j partment of physical education will! be stressed this summer with an | intensive eight weeks normal course j for teachers and coaches to be conducted under the supervision of Wilbur S. Barnhart of Emmerich , Manual Training high school. [ objects. But it is clear enough where j | reform must begin. It must begin with publicity, not 1 i the publicity of occasional expo- ■ sures, but publicity which would be | continuous. The more complete the publicity, the greater will be the protection of the public and the i more active the consciences of i financiers.

Lippmann

MATTERN TO ATTEMPT WORLD FLIGHT

V __ MOSCOW ® ■ ! Wr\

James Mattern of Oklahoma City and the plane in w'hich he will attempt a one-man flight around the world are pictured above Mattern will try to reach Berlin in his first hop. His stops after that have not been revealed, but he is expected to follow much the same route as Post and Gatty did in their record globe-girdling flight last year. The map shows the principal cities along this route.

Butler College Players Will Present ‘Climbers’ Clyde Fitch’s Modern Drama Will Be Used by the Thespis Society As Last Play of the Current School Season, BY WALTER D. HICKMAN THE important place that the dramatic department at Butler university plays in the life of the student body is well reflected in the nature of the plays the Thespis Society has presented this season. The society on Thursday night and Friday afternoon and evening will present at the Thespis Theater a modern four-act drama by Clyde Fitch, called “The Climbers.” This is an ambitious undertaking on the part of Mrs. Eugene Fife, who has been associated with the dramatic department at Butler for years. There is a reason for the wide spread interest in this play because It is hoped that the student re- < 7

sponse will be so general that it will prove the importance of not only maintaining the department but increasing it next year. Personally, I judge a school’s standing a great deal according to the strength of its dramatic department. A university can no longer get along without a strong dramatic department any more than it can its football team. The leads in ‘‘The Climbers” will be played by Douglass Elwood as the gambling broker; by Dorothy Brown as his wife and Miles Sweeney as her clandestine lover. The Butler Collegian announces the remainder of the cast as follows : Gwendolyn Schort as Mrs. Hunter, Florence Condrey as Clara Hunter. Anna Foster as Ruth Hunter, Mary Paxton Young as Miss Godesby, Dorothy Prosch as Miss Sillerton, Dale Smith as Johnny Trotter, Nina Hughes as Jessica Hunter, Addison Coddington as Dr. Stienhart, Alan Hall as Godesby, Edgar Baum as the butler, Walter Creason as Mr. Mason, Evanka Tsenoff as Marie, and Mary Alice Burch as Thompson. On Friday night a special boar/! of judges wall choose the outstancV ing actor and actress in the cast. The board will consist of Chic Jackson and Corbin Patrick of the Star, Dean J. W. Putnam, Norman R. Buchan, Evan Walker and myself. o tt n Indianapolis theaters today offer: “Be Mine Tonight” at the Ohio, “The Eagle and the Hawk” at the Circle, "Ex-Lady” at the Indiana, Benny Ross on the stage and “Diplomaniacs” on the screen at the Lyric, vaudeville and movies at the New Family, “Adorable” at the Apollo, "Reunion in Vienna” at the Palace, burlesque at the Mutual and Colonial, “Sport Parade” and “Guilty or Not Guilty” at the Granada, "Tile Big Cage” at the Rivoli, “‘Lucky Devils" at the Mecca, “Our Betters” at the Talbott, “When

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THE INDIANAPOLIS TIMES ’

Strangers Marry” at the Belmcct and “Sign of the Cross” at th Hollywood. ’

Fishing the Air

The theme of "Rockin' Chair" will bring: Mildred Bailev to the WABC-Columbia network microphone again to sing the blues at 5 D. m., Wednesday. Those who have lost sleep over failure to carry on chain-letters will find special interest in the program of "The Voice of Experience.” to be broadcast over the VVABC-Columbia network at 6 D. m., Wednesday. In response to numerous requests. Kate Smith again will sing "Moon Song”—the hit song of her feature film—as the highlight of her broadcast over WFBM and the Columbia network. Wednesday, at 6:30 n. m.

HIGH SPOTS OF WEDNESDAY NIGHT’S PROGRAM. 6:OO—NBC (WEAF)—Fanny Brice with Geo. Olsen’s orchestra. NBC (WJZ)—Crime Club. 6:45 —Columbia—Hot from Hollywood. Abe Lyman's orchestra. 7:OO—NBC (WJZ)—Adventures of Sherlock Holmes. Columbia—lrvin S, Cobb and Goodman’s orchestra. 7:IS—NBC (WEAF)—Betty Boop frolics. 7:3o—Columbia—Guy Lombardo’s orchestra; Burns and Allen. NBC (WJZ)—U. S. marine band. 8:00—NBC (WEAF)—Corn Cob Pipe Club. Columbia Wa rings Pennsylvanians; Mandv Lou. NBC (WJZ) —The Revelers male quartet. B:3O—NBC (WJZ) Century of Progress sketch.

Three request numbers will be offered by the Master Singers during their program over WENR ana an NBC network at 9:30 p. m. Wednesday. Irvin S. Cobb, who has quickly become established as one of the radio audience’s favorite raconteours will broadcast over WFBM and Columbia network Wednesday at 7 p. m. Liza Lehmann’s oriental cantata, "In a Persian Garden,” will be presented by Channon Collinge and the cast of Light Opera Gems, Wednesday from 8:45 to S: 15 n. m.. over WFBM and the Columbia network.

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FARM COUPLE PAY $l,lOO FOR FAITHINGYPSY Woman Flees With Savings of Lifetime: Promised to Find Gold Cache. Faith in a Gypsy woman, who promised to show them where 530.000 in gold was buried on their Hamilton county farm, cost Mr. and Mrs. Otis Zimmerman. Cicero, their life savings of $l,lOO, state police were told today. Acting upon this information officers began a hunt for the Gypsy woman, but without much hope of capture, since she had a five-day start before Zimmerman made the report. She left the farm couple holding a hot biscuit and a piece of cold meat. Posed as Antique Buyer A woman, 40, weighing 115 pounds, 5 feet, 6 inches tall, with dark, long stringy hair, heavy eyebrows, discolored and crooked front teeth, dark complexion, peaked nose, slender long finger nails, and wearing wedding and cameo rings came to the farm home and asked Mrs. Zimmerman to sen her some antiques, the couple said. Having none to sell, IVfiss Zimmerman conversed with the stranger, who told her many intimate family things and finally sold her a “reading” for $2. Zimmerman came home and she told him about the buried gold. Then she gave him a $25 reading for $12.50. Later she returned and said she had placed $2,000 in Zimmerman's • planet” in an effort to locate the gold cache, but that her money wouldn’t work. She wanted some of theirs. Sells Liberty Bonds So Mrs. Zimmerman sold her Liberty bonds and procured the $l,lOO in bills of not, more than S2O denominations. This the woman ordered placed in a glass jar hidden on the farm. Then she told the couple to go to bed with a hot biscuit and a piece of meat. Still nothing happened, so she accused them of lack of faith in her. They protested. To test their faith, she had them give her the money to place in the “planet.” They did. But they broke faith by not waiting nine days before reporting it to the police. They waited only five. Then they told the story to Sergeant Walter Mentzer,

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Radio Dial Twisters

—5:45 P. M CBS—Boaice Carter. NBC—The Goldbergs to WEAP. WGN 1720>—Devil bird. i —6 P. M.— KYW <lo2oi —Congress or-! chestra: home folks. CBS—The \o*ce of experience. WBBM (7701—Dr Rudolph. NBC—C. V S. Olsen's music. Fannie Brice to WEAF. WGN (720)—Kemo s orchesNBC—Crime Club to WJZ. —6:15 P. M CBS—Boswell Sisters. WBBM (7701—Snorts. WGN (7201—Coles' orchestra. —6:30 P. M.— CBS—Kate Smith. WBBM (770:—Drama. Count of Monte Cristo. NBC—Donald Novis. Beiascos orchestra to WEAF. WJR <7so'—Chandu NBC—Jones and Hare to WJZ. — fit 45-P. M KYW (1020i—Chandu: Pish-! er's orchestra. CBS—Lyman orchestra and Irvine Kaufman. WBBM 17701—Guv Lombardo orchestra. NBC-Phil Cook and Ingram Shavers to WJZ. —7 P. M CBS—lrvin Cobb and Good-' mans orchestra. i WBBM (7701—Phil Harris __ Revue. NBC—Grofe’s orchestra and Ranny Weeks to WEAF WGN 17201—Quin Ryan auto show. NBC—u. S. Marine band to —7:15 P. M.— KYW (1020i—Star Dust, Ulmer Turner. CBS—Manhattan serenaders NBC—Betty Boop Frolics to WEAF. | —7:30 p. M.— CBS—Lombardo’s orchestra. Burns and Allen. i

WFBM (1230) Indianapolis (Indianapolis Power and Light Company) WEDNESDAY P M. s:3o—Bohemians. 6:oo—Brown County Revelers. 6:ls—Boswell Sisters <CBSI. 6:3o—Kate Smith (CBS>. 6:4s—Hot from Hollywood (OBS). 7:oo—lrvin S. Cobb (CBS). 7:ls—Manhattan Serenaders (CBS). 7:3o—Guy Lombardo with Burns and Allen t CBS). B:oo—Waring's Pennsylvanians iSBS), B:3o—Edwin C. Hill (CBS). B:4s—Light Opera Gems (CBS). 9:ls—Little Jack Little (CBSi. 9:3o—Freddie Martin orchestra (CBS). 10:00—Eddie Duchin orchestra (CBS). 10:30—Don Bestor orchestra 'CBS). 11:00—Atop the Indiana Roof. 11:30—Tallyho Club orchestra. 12:00—Sign oS. WKBF (1400) Indianapolis (Indianapolis Broadcasting, Inc.) WEDNESDAY P M. 4:60—H0-Po-Ne Club. 4:3o—Tea time tunes. 4:4s—News flashes. s:oo—Musical menu. s:ls—Cecil and Sally. s:3o—Aunt Dessa and Uncle Connie. s:4s—Dinner melodies. 6:00 —Knothole gang. 6:ls—Harry Bason. 6:3o—Recordings. 6:4s—The sportslight. 7:oo—Devore sisters. 7:ls—Dick Green and his uke. 7:3o—Connie's orchestra. B:oo—Georee and Rufus. B:ls—Orchestra and baritone. B:3o—Timmv Anderson. B:4s—The Ambassadors. 9:oo—Happiness parade. 9:ls—Hoosier melodv bovs. 9:3o—Denny Dutton's orchestra. 9:4s—Shorty Phillips orchestra. 10:00—To bo announced. 10:15—Art Berry’s orchestra. 10:30—Dennv Dutton's orchestra. 10:45—Shortv Phillips orchestra. 11:00—Morrev Brennan's orchestra. 11:30—Art Berry’s orchestra. 11:45—Sign off.

WEDNESDAY . —7:30 P. M 1 NBC—One Man's Family to \ i WEAF WJR (750i—Kyte's dancingI party. ' WMAQ 670)—Palace theater varieties. —8 P. M KYW (1020'—Globe Trotter ( quartet. , CBS—Old Gold. Mandv Lou. Waring's Pennsylvanians. , NBC—Corn Cob Pipe Club to 1 WEAF NBC—Address bv Samuel, Harden church to WJZ. WMAQ (670)—Mr Twister. WSM i6soi—Variety. —7:15 P. M WBBM (770) —Pollock's or- 1 chestra NBC—Tune Detective to ( WJZ. —8:30 P. M KYW (1020) Rtverview or- f chestra. , CBS—Edwin C Hill. NBC Mischa Levltzski.: < pianist to WEAF. WGN '720) Tomorrow's iTrib.; "Headlines." jNßC—Carveth Wells, ex- 1 I plorer. WJR (750)—Golden Tower 1 orchestra. i NBC—Music Magic to WJZ. —8:45 P. M.— CBS-Light Opera Gems. ( WBBM (770) Lombardo's ! orchestra. WGN (720) —McCoy's orches- i , tra. —9 P. M.— ! 'KYW 11020'—Sports; St. I Regis' orchestra. II NBC—Meyer Davis orches-i tra to WEAF. 'AVON (720) —Kemp’s orches- ' tra. L NBC—Pickens Sisters to 1 | WJZ. NBC—Amos ’n’ Andy to 1 .i WMAQ. —9:15 P. M.— .'CBS—Little Jack Little. 1 jWENR, (870) —Sports orches- , | Ira. NBC- Everett Marshall and Mitchell's orchestra. < I WJR (750)—Reporter.

WLW (700) Cincinnati P M WEDNESDAY 1 iNBC'° rs " AStorla dance orchestra 4:3o—Joe Emerson. 4:4s—Lowell Thomas (NBC), o: 00—Amos 'n' Andy (NBC). s:ld—Gene and Glenn. 5:30—80b Newhall. s:4s—Jungle band. 6:oo—Crime Club iNBC>. 6 30—Detectives Black and Blue. 6:4s—Chandu. the magician. 7:00—To be announced. ' ; 3o—The Cowards Never Started 8:00—Corn Cob Pipe Club of Virginia ! NSC*R6d!. B:3o—Puddle Family. 8 45—Dance orchestra. 9:00 Hymn sing. 9:3o—Zero hour. 10:00—Ralp Kirbery (NBC). —C°ll e K e inn orchestra (NBC). 10:30 Pennsylvania hotel orchestra <NBC*. J} 22 — Agnew’s dance orchestra, is: nn"P- a S te . L °w k es ha nee orchestra. 12.00 Midnight—Moon river. A. M. 3D—Charlie Agnew's dance orchestra. 12:45—Deane Moore. I:oo—Sign off. 51 TO GET DEGREES Ninety-Ninth Annual Commencement to Be Held at Franklin. By United Press FRANKLIN. Ind„ May 31.—Fiftyone seniors will receive degrees at the ninety-ninth annual commencement ceremonies of Franklin college here June 12. The inauguration of Dr. William Gear Spencer, new president, will follow awarding of diplomas by Professor Robert H. Kent, acting president.

—0:15 P. M.— WMAQ (870) Dan and Sylvia. WGN (720* —Dream Ship. —9:30 P. M.— KYW <lo2ol—Fisher* orchestra CBS- Freddie Martin a orchestra WGN '72ol—Warns Kings orchestra. NBC—Male chorus to WJZ. WMAQ (670)—Dance program. —9:50 P. M WON 17201—Cummin* or- | chestra. —lO P. M KYW <lo2o)—Canton orchestra. CBS—Duchln'a orchestra. I WENR (870)—Eppinoff's orchestra. NBC—Dream singer: College Inn orchestra to WEAF. NBC—town's orchestra to WJZ. WOR (710) —Conn's orches- | tra. —10:10 P. M.— WGN 1720) —Wavne King's | orchestra. —10:15 P. M KYW (1020i—Riverview orchestra. —10:30 P. M CBS—Bestor's orchestra. NBC—Dance orchestra to WJZ WGN (720)—Orchestra program NBC—Fisher's orchestra to WEAF. —ll P. M KYW (1020i—Canton orchestra. WENR < 870) —Weems’ orchestra. WJR (750)—Holsts’ orchestra. WSM (650)—Dance orchestra*. —11:30 P. M KYW (1020)—Sosnlk's orchestra. WJR (750)—NBC Beachview orchestra —lt Mtdnieht— WBBM (770)—Around the town.

PAGE 7

RAGE RADIO TEST PROVES SUCCESS Experiment on Car Saves Time in Pits. Success of the experiment of two-way radio communication between a racing car and the pita Tuesday at the Speedway probably will result in a number of cars being equipped similarly next year. The short wave transmitter and receiving set in the Samson Radio Special piloted by Chester Gardner, which placed fourth, operated satisfactorily until the 340-mile mark, when a battery cable broke.

For baby! A bowlful of Kellogg's Rice Krispies. And how they delight baby and every* body else when they snap, crackle and pop in milk or cream. A grand cereal for chiK dren. Nourishing rice. Easy to digest. Always ovenfresh. Made, by Kellogg in Battle Creek. Listen!— fS§Pf RICE 4 KRISPIES % —rn M