Indianapolis Times, Volume 45, Number 25, Indianapolis, Marion County, 9 June 1933 — Page 4

PAGE 4

‘RAIL WIZARDS’ PAINTED BY PECORA AS PUPPETS OF MORGAN FOR 17 YEARS Despite Counsel of Great Banking- House in Roads’ Affairs, Investing Public Has Lost Terrific Sums. H'j £cr(pT)*-H mcird .V frupaprr AUitnce WASHINGTON. June 9.—Behind the romantic tale of how J. P. Morgan made two Cleveland boys the masters of a railroad stretching from tidewater to Texas ml fields lies a revelation of high finance as applied to the problem of national transportation. This is the significance of the picture painted by Ferdinand Pecora, Morgan investigator, of the far-flung, billion-dellar operations of the Van Sweringen brothers of Cleveland. The lawyer is seeking to show’ that for seventeen years these men, know-fi as “wizards of railroading,” were nothing more than puppets of

Wall street. O. P.’s utter failure to remember a single detail of ventures involving many millions is cited by Pecora as eloquent of his theory. The other phase of the story, as unrolled by Pecora, is that, although the Morgan firm led, loaned and advised every step of the way, stock of the great holding company eventually formed—the Alleghany—now is worth only $4.50 a share. Despite counsel from the House of Morgan itself, and favors which enabled the Van Sw'eringens to unite half a dozen great systems covering the area bound by New York, Norfolk, Salt Lake and the Mexican border, investors have lost terrific sums. Included are many prominent persons allowed to cut in at low'er figures than the general public. Two Cleveland banks—the Guardian Savings and Trust and the Union Trust Company—that financed the brothers still are closed, and their shelves have some Van Sweringen paper, according to the witness. The Union Trust Company was headed at the time of this heavy borrowing by Joseph R. Nutt, treasure! of the Republican national committee. Almost every loan that went to purchasing or improving a railroad was paid off trough subsequent sales of stock to the public. Alleghany Corporation stock was issued to the general public at $22, and at $2 to the “Morgan friends.” It rase almost immediately to $57. It has recently sold as low’ as % of sl. AWAIt rORESTRY ORDER County Ready for Addition! Enrollment in Corps. Orders from Washington for additional enrollment of men in the forestry employment program are expected, George Gill, manager of the emergency work committee, said today. Marion county's quota of 995 has been filled, and 705 men are registered with Gill for examination should additional enrollment be ordered.

u *nd-r hlii ■ | r i wen Y.„rD au er Comes to Womanhood Most girls in their teens need a tonic and regulator. Give your daughter Lydia E. Pinkham's \egetable Compound for the next few months. Teach her how to guard her health at tliis critical time. When she is a happy, healthy wife and mother she will thank you. “I felt weak and tired even though I went to bed early. My complexion was sallow. My face was thin and peaked. My nerves were ragged and I was hardly able to go to work. I read about Lydia E. Pinkham's Vegetable Compound in the paper and TRY wondered if it would help me. After the LYDIA E. first bottle 1 noticed a change. Others PINKHAM'S saw it too and remarked about it. Now SANATIVE my nervous headaches are gone, my WASH complexion is lots nicer and I can work A cleansing, healevery day. It is a splendid medicine for in * ■ nti9 *P tic and girls.” Delmare Carpenter, 216 deodorant Grant St., lowa Falls, 1 lowa. _____ Lydia E. Pinkham's Vegetable Com pound

AUDITOR DENIES ALTERING BOOKS Assessor's Figures Not His Concern, Grossart Says After Letter. Denial that assesvsment figures had been altered or any other irregular changes made in his office w’as voiced today by County Auditor Charles A. Grossart. Grassart's statement follow’ed receipt of a letter from Philip Zoercher, chairman of the state tax board, in which provisions of the law regarding changes were cited. “In the first place, I never should have been sent the letter,” Grossart declared. “Any remarks regarding assessments should have been directed to John C. McCloskey, Center township assessor.” Grossart pointed out that “the auditor’s office does not have jurisdiction over assessment figures or the assessor’s books, and does not make any valuation changes.” “The only changes that are made in the auditor’s office are on written certificates issued in the towmship assessors’ offices, and then, only on certificates of error issued by the assessors,” Grossart stated. “The criticism of the auditor’s office is unjustified wholly because whatever changes have been made in the past have been made on written certificates issued in the various township assessors’ offices. $ 14,000 WHISKY TAX IN 56,000 Pints of Medicinal Product Consumed in Two Months. Hoosiers are going for medicinal w’hisky in a big way, the state excise department records show, since it was legalized two months ago $14,000 in whisky tax has been paid the state, representing consumption of 56.000 pints.

to Chyvaa Uoxonstabia ZcrnOVum sot . . . COOL Fashions for Flaming Youth (Note: Our “Manufactured Weather!! Keeps You Cool While You Shop)

In Our ... ,

This Nifty New Bicycle Frock s3 No need to pay more! We doubt whether it could be any smarter at any price! It is made of half-inch-checked gingham. The skirt is divided, of course —and the blouse tucks in.

A Frock That’s Cool and Dainty! sOm “Good enough to oat”—Ton'll say! And so COOL looking. It is cross-barred green voile with white flowers. The cartwheel puff sleeves and double tier collar are white organdie.

AYRES DOWNSTAIRS STORE

; THE INDIANAPOLIS TIMES ",

Here’s a Jolly Linen Dress for s 2 a Ton’d never have guessed the price, so Jowl A sleeveless frock for golf or tennis or business wear; with red-and-blue belt—and a dark blue linen jacket with short sleeves.

A Washable Dress-Up Dress SC.OO Thus washable crepe frock is in sunlight yellow—and it has an entirely new wrinkle in sleeves (merely a fold of cloth I with choice of 2 armholes. Sleeveless swagger coat.

Nautical Looking Two-Piece Suit SgJO This suit Is purest of pure linen—and is suitable for nearly any summer occasion. Consists of brown striped skirt and double breasted jacket with striped collar and lapels.

Dime Dotted Batiste Frock s2j> A eool, sheer woven stripe batiste in blue—with white coin dots. A lace edged, white pique collar—and a pique edged belt lend the final touch of chic. It’s a Honey! —Downstairs at Ayres.

Kabo-ette Is a Perfect Foundation for Sweet Young Things With Practically No “Hip Problem” . , $2-00 ne of those wispy bits of Lastex that look “doll size” they are real KABO foundations . . . that stretch both [own. to mould maturing figures into the smooth, unnes demanded by Fashion. They give plenty of supt do not confine! They can’t slip up or down! Comh four hose supporters. Small, medium or large. —Downstairs at Ayres. Keep the Kids Kool In “CINDERELLA” 11 Wash Frocks 2 * *l=“ a ISo need to let the kids swelter and bake in heavy winter weight dresses! Not when you can buy these really FINE Ql ALIT\ “Cinderella” summer frocks at such a low price! ’ f \ ** llli This is a great special purchase of better quality garments \ > TV ' . . . featuring the well-known “Cinderella” smartness of \ \V style and quality work- \ Wn manship and fabric! // I / ill Dozens of little-miss J / J fashions to choose from! CsM* -yMgflHre ' / \\ (. W to HI Boys’ Covert Knickers Cool and Practical for Summer \ t *,. > / 59c Ms These are full cut, comfortable knickers—made of good I I I quality covert cloth, that will give dependable service, yet not too heavy for summer wear. In golf knicker style. I I | Brown, grey, tan or blue. Sizes 6to 15. ‘ j j 1 White Wool Slipovers, 79c / A All-wool slipover sweaters in pure white—sleeveless style for summer / f \ wear. Also in plain colors. Sizes 28 to 36. / j \ Boys’“Whoopee” Slacks, 69e weight cool pants that are ideal for vacation and play wear. \ ; \ Made with wide waist band. Sizes 6to 18. \ ' \ Fast Color Wash Suits, 59c \ Cool wash suits in seersucker, broadcloth and suiting. Attractive I \ styles; sizes, mostly 3 to 8. —Downstairs at Ayres. I \ JUNE SALE of Children’s Cool Sandals $<1.49 JL P a ' r —I •White Elk • Smoked Elk Mmmmk., V-'V • Black Patent ’ There’s a great assortment of these fine ts****^ quality sandals and one-strap slippers to f choose from. Every pair is made to really V _ ' -L fit growing feet! Sturdy leather soles and ~ rubber heels. Easy to clean. Extra fire . values at this low price! In sizes 8| j to 3 B to D widths. —Downstairs at Ayres. i O° o

TUNE 9, 1933