Indianapolis Times, Volume 45, Number 26, Indianapolis, Marion County, 10 June 1933 — Page 3

JUNE If), 1933_

‘GREAT GOLD CONSPIRACY' IN 1869 SHOWS MISUSE OF METAL IS PERIL TO NATION Jay Gould and Jim Fiske Started Out to Corner Nation’s Supply, Causing ‘Black Friday’ and Panic of ’73. World recovery, ii I* agreed, depend* largely on the London conference. The l/indon conference will turn on monetary stability, trade and war debts. All these hinge on gold, Hold has never played so vital a role as it does now. This Is the third of four articles on the most romantic and most sought - after of metals. BY WILLIAM PHILIP SIMMS Scripps-Howard Foreign Editor The “Groat Gould Conspiracy’’ of 1869. led by Jay Gould and “Jubilee Jim" Fisk ~a conspiracy which brought on the terrible “Black Friday’’ and led to the depression of 1873—shows what havoc improperly managed gold can wreak on a country and its currency. P Iring the Civil war the United States found it necessary to increase its output of greenbacks Their value, in terms of gold, rapidly fell. In 1864 they were worth only 39 cents, and it was some years before currency and gold were on a par. This gave Gould and Fisk, owners of the Erie railway, an idea. They would corner gold. There was little in the land—either inside or outside the United States treasury. By cornering it, they could clean up a fortune.

The story of their conspiracy is told in the musty volumes of the forty-first congress. Fiction is no more fascinating than the report of the committee headed by James A. Garfield, later President of the United States. Gould and Fisk, according to the report, carefully set the stage for the killing. They deliberately flooded I he country with propaganda creating the impression that a rise in gold—and a corresponding depreciation of the currency—would raise prices, help the business man, the farmer and the worker, and open up foreign markets for American products. Newspapers Tricked They tricked the newspapers into using their propaganda. They brought pressure on President Grant in the White House through his relatives. To get the support of a certain coterie of brokers in Wall street, they actually let it be understood that the administration itself was "corruptly interested.” “Indeed,” said the Garfield report, ‘the whole gold movement was not an unworthy copy of that conspiracy to lay Rome in ashes and deluge its streets in blood for the purpose of enriching those who were lo apply the torch and wield the dagger. “With the great revenues of the Erie railroad at their demand, and having converted the Tenth National bank into a manufactory of certified checks to be used as cash at their pleasure, they terrified- all opponents by the gigantic power of their combination, and amazed and dazzled the dissolute gamblers of Wall street by declaring that they had in league with them the chief officers of the national government.” Plotters Play Card On Sept. 12, gold was selling at 135, the lowest in years. Currency was coming back. But on Wednesday, Sept. 22. gold had reached 140. The conspiracy was under way. On the Thursday before “Black Friday,” gold closed at 144, and that night the plotters met to plan the { next day’s coup.

Big Moment Unmarred. Woman’s Sentence Delayed So ‘Baby’ Can Graduate Without Publicity.

BY JAMES A. CARYIN Times Staff Writer THERE were many happy tears shed by fond parents during a recent high school graduation ceremony, but one mother who sat in the auditorium was shedding bitter tears of repentance. Unseen by the hundreds present, and unsuspected by the school companions of one of the graduates, the mother was overshadowed by

an impending prison sentence. Inevitable retribution had been stayed for the present, but in a fewshort days the penalty will be paid, and the payment may be started even as these words are read. Indicted for false pretense and grand larceny, charges which grew out of alleged use of others’ charge accounts in downtown department stores, the mother appeared in criminal court on the day set for her trial. No Shrinking From Penalty Before court opened with the eyes of the morbidly curious. who assemble there each day, focused on the defendants, the mother sought a private interview with Criminal Judge Frank P. Baker. "I don’t want to appear in open court.” she pleaded. “My daughter graduates from high school tonight.” and her friends mustn’t know about me. What can I do?” There was no shrinking from punishment, no sobbing appeal for leniency—only the plea from a mother's heart that the sins of a mother might not be visited upon an in-nocent-daughter. "If T am sentenced today, it will get in the newspaper. Everybody will know. They'll point at my baby and she mustn't have to stand that—she mustn't —she mustn't!” The Story Is Killed Wild sobbing ended the plea and choked further words. Assured that a plea of guilty would be entered on any date, set by the court, Baker granted a continuance. Then he called courthouse newspaper men to his office to explain the circumstances. "I have done all I can. What do you boys say?” The reporters nodded assent, and mentally "killed” the story. That night the daughter was graduated with her class, while her mother smiled at her through tears. HE'S DARN POOR CROOK Bungles Whole Job; Overlooks Money, but Leaves His Shoes, Indianapolis’ most amateur and bungling thief made his bow Friday night. He succeeded in breaking into the poolroom of William Dwyer, 659 East Sixteenth street, but overlooked the hiding place of the money. To top things off, the thief left a pair of shoes and one sock behind him to make it a completely losing venture. Woman Attempt* Suicide Miss Patricia Richards. 27, of 128 North East street, was removed to city hospital today, following an attempt at suicide by swallowing three poison tablets.

Gould, however, had got wind that Washington was suspicious, and might step in at the last minute and spoil everything by selling gold—despite attempted pressure on the White House to prevent that very thing. And he played his cards accordingly. Unknown even to his partners, he prepared to unload. On “Black Friday”—Sept. 24. 1869 —the conspirators posted bullies at the door of their headquarters. Revolt against the gold corner was in the air. They feared physical violence. The moment the exchange opened, one of the group’s straw men began operations. Gold rose to 150. Then to 155 and 160. Finally it reached 164. New York went mad. Failures were occurring every minute. From coast to coast business concerns in need of gold for legitimate purposes crashed. Wires carrying the news, says the report, literally “burned up.” At this precise moment, “Jubilee Jim” Fisk impudently sauntered into the “gold room” of Wall street, where, nonchalantly lighting a 50cent cigar, he offered any part of $50,000 that gold would reach 200! Facing ruin, a group of desperate New Yorkers pooled their resources and swung into action against the conspirators. It was their only chance. One of their number offered $1,000,000 at 162. Five minutes later he offered $5,000,000 at 160. The market wavered. Suddenly a rumor swept the street. Washington was selling gold. In fifteen minutes gold was down to 133. And Washington had sold only $4,000,000 worth—about all it could afford to sell, so little did it have! So ended “Black Friday.” But the results of the gold conspiracy went on. The depression of 1873 was one of the worst in the country’s history. Next: London and the Money Question.

The Citv in Brief

Children's day program wall be given at 10 Sunday morning at St. Mark's English Lutheran church, Prospect and Linden streets, with Wilbur G. Roesener. superintendent of the Sunday school, in charge. Quincy M. Crater, a Chicago engineer. will discuss air conditioning at the luncheon meeting Monday of the Scientech Club at the Columbia Club. Weekly luncheon of the Rotary Club will be held Tuesday at the Riley Memorial hospital under auspices of the crippled children committee, Arthur R. Baxter, chairman. Minor Foster. 16, of 353 North Kenyon street, was seriously injured Thursday when he took the first dive of his career as a swimmer. He is at Methodist hospital. After taking twelve sleeping tablets "for a joke,” Russell Vorhies, 21. of 205 South Noble street, was taken to city hospital Friday night. Today he suffers no ill effects. Leonard Clark. 28. of 315 West New York street, taxi driver, told police two Negro passengers slugged and robbed him Friday night. They stole $2.70 and his driver’s license. John Lucas, 21. Birmingham, found by police at Emerson and Massachusetts avenues Friday with a broken foot, said he was "bumming his way” to the home of an aunt in Ohio. ASK SIO,OOO FOR DEATH Administrator of Estate Files Suit for Auto Fatality. Damages of SIO,OOO for death of Virgil Van Arsdell in an automobile accident March 2, is asked in a suit filed in superior court five by the Security Trust Company, administrator of Van Arsdell's estate. The suit alleges Van Arsdell suffered fatal injuries when he was struck by a car owned by Harry Hohlt, and driven by Carl Hohlt in the 4000 block, West Morris street. The Hohlts and John Becker, a helper, are named defendants. Broome, a center of pearl shell industry in Australia, has so many nationalities that twenty-three languages are spoken there.

Device to Revolutionize Photo-Engraving Shown

i >;* V’.V ■ ’’l ■ v .... I

' f ■ \ W ■ : #&&& ■ 1111111 |||p *%*'<:• , ' '' ••'• / ■ • // ; f-.-y^-Zy

New Machine Is Exhibited to Editors: Patents Are Granted. lit/ Time* Special BLOOMINGTON, Ind., June 9. A machine heralded as the means of a revolutionary change in photoengraving was viewed here Wednesday by members of the National Editorial Association, who came from Indianapolis to attend a dinner given in their honor by Indiana university. Joe A. Bennett, 31, chief composing room machinist of tne Indiana university press, is the inventor cf the machine, to which he has given the name of Engrav-o-graph. With the machine, the costly acid etching method of photo-engraving is eliminated and a simpler method at lower cost made available in reproducing photographs for newspaper use. Used as Machine’s ‘Eye* The photo-electric cell is used as the “eye” of the engraving machine. Impulses from the passage of a light beam over a photographic negative operate an electrically controlled cutting tool which engraves the picture directly on stereotype metal. No process other than the cutting is required, thus providing speed in handling pictures which is a prime factor in reproducing photographs for newspaper use. Demonstrating the machine to visiting editors, Bennett reproduced a picture in seven minutes. The operation is from the photographic negative, eliminating delay in waiting for prints to dry. Builds Four Machines Use of the machine in the field of picture transmission by wire was pointed out to the editors by Bennett, who explained as the only connection between the “eye” and the cutting tool is electrical wiring, they could be far removed from each other and operate as well as if in close proximity. Bennett has built four machines in his attempt to simplify the photoengraving process, but it was not until the photo-electric cell and the dynamic loud speaker were perfected that he could build a device like the one the editors saw in operation. The inventor had the aid of Professors J. W. Piercy, W. A. Cogshall and John F. Foley, and Dr. R. R. Ramsey, in perfecting the machine, on which patents have been granted. GIRLS GIVEN DIPLOMAS Tudor Hall Graduates Addressed by Ada Louise Comstock. The graduating class of Tudor Hall school for girls was addressed by Miss Ada Louise Comstock at commencement exercises Friday night, in . the First Presbyterian church. Miss Comstock is president of Radcliffe college. Diplomas were presented by Miss I. Hilda Stewart, principal. AWARD COAL "CONTRACT Polar Ice and Fuel to Provide Hospital With 10.090 Tons. Contract for purchase of 10.000 tons of coal for use at city hospital! was awarded the Polar Ice and Fuel j Company on a one-month trial basis ! by the city board of health Friday. | The accepted bid designates the purchase of Pike county slack soal at $2.21 a ton.

ipfr D2Q* First beat Tare Tietweeri Oxford a.nd Cambridge. IVU 'Henry M. Xtenlty African explorer and Vinder of Livings tope, jpornI: and Wales endactert. i 19 2£prnic<?bP Kates ,/vTejWed encased.. IQOTnnceoAsisifS l[ reported- eo^a^ed.

THE INDIANAPOLIS TIMES

, Upper—The engrav-o-graph, dej vice for simplifying the process of transferring photographs to metal. Lower—Left, Joe A. Bennett, the inventor, and right. Dr. William Lowe Bryan, whose picture was made by the new device. MILK FRIGES TO BE FIXED AT MEETING Producers and Distributers to Convene Monday. Members of the milk producers’ committee from the Indianapolis area, which will meet with a similar committee representing distributors, was announced today. The meeting will be ararnged, probably for Monday, by Lieuten-ant-Governor M. Clifford Townsend, state commissioner of agriculture. Both committees are empowered to act on prices and methods of handling milk. The producers’ committeemen are: Ellwood Morris, J. D. Littlejohn. Carl L. Hedges. John Bright Webb, and Leancer Browning. Guy L. Roberts is chairman of the distributors committee. MISSING LAD HUNTED 13-Year-Old Boy Lost Since Monday Noon, Parents Report. Mr. and Mrs. Edward Williams, 1627 Lawton street, today asked The Times to aid in the search for their

son, Jimmie Williams, 13, who has been missing from his home since Monday at noon. Jimmie weighs about 85 pounds, has blue eyes, and blond hair. When last seen, he was wearing gray trousers, a blue turtle - neck sweater and black oxfords. His parents know of no relatives whom he may be visiting.

-x, ■<puu X !***

Any one having seen an apparently homeless boy answering this description is asked to communicate at once with the parents. CHURCH PARADE TODAY Downtown March to Be Part of Roberts Park Celebration. As part of the Roberts Park M. E. church three day homecoming celebration, a downtown parade was to be held this afternoon. A dinner was served on the lawn |at the church Friday night, folj lowed by a band concert and presentation of two plays. An all-day program will culminate the celebration Sunday. Dr. Edwin W. Dunlavy, Chicago, and Dr. Alpha H. Kenna, St. Louis, former pastors, will speak. ASKS SIO,OOO DAMAGES Woman Slips on lee; Charges City With Negligence. Charging negligence in permitting ice to remain on the sidewalk at 1 717 Orange street, Mrs. Elizabeth Sanders, 338 Sanders street, is suing the city and Mr. and Mrs. David M. Rathford for SIO,OOO damages. In the suit, filed in superior court two, Mrs. Sanders alleges she suffered a fractured left ankle Feb. 13. when she slipped on icy pavement in front of the Rathford home. The wild banana produces no fruit, and it was a chance freak that produced the well-known banana.

FIDELITY TRUST COMPANY FIRE INSURANCE AND ALL OTHER KINDS WITH THE EXCEPTION OF LIFE IN SCRAN t E .RI. 7471 148 E. Market St.

Fletcher Ave. Savings & Loan Assn. Mail Account* | A C 11 . .L.l Ql Has Paid Dividends Sfcfely Handled I U Cl Ifldl RBI OK on s “ T,n K* for 41 Years

1,000 FLOCK TO M'CLURE BEACH FOR FIRST SWIM Times Plan Meets Success; County Authorities to Follow System. (Continued From Page One) nounce another county swimming place on Big Eagle creek, for the benefit of week-end swimmers. Miss Julia Landers, county safety director, lauded The Times for the plan and announced that places in the county, considered unsafe, have been marked. The Times urges that you swim in guarded or private pools, but NOT IN UNGUARDED SECTIONS OF EITHER EAGLE CREEK, FALL CREEK, OR WHITE RIVER. Life guards Jim Clark, Russell Mclntyre, Don Pittman, John Prokl, Bob Jarvis and John Compton will be on duty over the week-end at McClure Beach. At Millersville, Dick Davenport and Alexander Sabo were to be on duty at noon today. Sunday Davenport and Sam Klezmer will be in charge there. " The project of The Times and the recreation department is the first municipal attempt to give relief to thousands of heat sufferers. The guards who are on duty are \working with the same view—that of giving residents an opportunity to swim with safety. THIRTY NAMED TO HONORGROUP Phi Kappa Phi Initiation Will Be Held Tonight at Marott. Nine graduate students and twen-ty-one under-graduates were initiated as members of Phi Kappa Phi, the Butler university chapter of national honorary scholastic society, Friday night at the Marott. The initiation was the eleventh annual one, and was followed by a banquet. Professor J. Douglas Perry, representing Butler faculty and the fraternity alumni, spoke. Graduates initiated were Mrs. Helen Aufderheide, Miss Ada B. Crozier, Mrs. Mabel Esten, Miss Martha Pittenger, Miss Elizabeth Belle Ramey, Miss Laura E. Rupp and Miss Nellie C. Young, all of Indianapolis, and Joseph R. Craw of Hagerstown and John Troncin of Monticello. Undergraduates initiated were Evelyn Bentley, W. Dwight Billings, LaVon R. Cox, Josephine Davidson, Thelma Flack. Irene Harrison. Helen Johnston, Dwight Kelley, Margaret Laughlin, Harold Love, Sara Elizabeth Miller, Nancy Moore, Dorothy Prebster, Shulamith Rabb, Gwendolyn Schort, Charles Seal, Sydney Stevens, Ruth Dorothy Thomason and Jean Yates of Indianapolis; Ethel Reagen of Chicago and Evelyn Todd of Southport. PLAN SUMMER SESSION Cathedral High Classes Will Start Work on Thursday. First summer session in the history of Cathedral high school will open Thursday. Principal will be Brother Daniel, formerly of Reitz Memorial high school, Evansville, and Central Catholic high school, Ft. Wayne. Brother Richard, director of studies for the regular term, will continue in that capacity. Remainder of the faculty will be Brothers Aidan and Owen. Each pupil will be permitted to carry two subjects in which credit for a half year’s work can be earned. Let a Times Rental ad locate a tenant for your vacant property. Lowest cost in city, 3 cents a word. Ri. 5551.

Jimmie

BRIDGE PRIZES Expert suggestions by L. STRAUSS & CO.—“The Won Over One System.” Plain Colored Handkerchief Silks and Cottons rn and linens jUC

Cash for Trash Discarded Jewelry 18-Kt., 514.40 Oz. 14-Kt., $11.20 O*. Less Handling Costs Indiana Gold Refining Cos. 135 W. Market St. (.Near Bus Sta.)

| CJuJf’A OUTLET I STORES [RELIABLE IHOESIT LOWEIT PRICES

3% Paid on Savings Security Trust Cos. ill North Pennsylvania Street

Don’t Worry About Baby and Heat, Doctors Warn

Food Only Thing to Watch, They Say: Tepid Baths Are Recommended. When the mercury hovers around 96. do you worry about the baby? Don’t! For Indianapolis physicians, presenting a united front against the onslaught of the heat wave, say that worry is one of the most important things for mothers to avoid in the hot spell. In a bulletin issued today by the Indiana State Medical Association, summer is referred to as. “the purgatory of motherhood,” because mothers are more apt to have trouble with ther children, especialy those in their second year, than at any other time in the year. “The chief cause of death' and sickness among infants is improper food." says the bulletin. Probably 25 per cent of the deaths of children under one year may be traced to intestinal diseases. The possibility of food becoming unfit for use in hot weather is greater, because at this time the chance of infection from disease germs is greater. “If the child does not retain his food and shows signs of distress, it is well to consult your physician.”

Business and Industry in City Reported Improving

Stores and Factories Show Gains in Last Month Over Year Ago. (Continued From Page One) added and others now are working four or five days a week, instead of two or three days, according to F. C. Gardner. The American Foundry Company is finding business better than it has been in the last few months, with an increase in the number of orders and more men employed. “Business is better,” was the word from the Indianapolis Bleaching Company. “We’ve been going good for the. last few weeks—running full time with a full crew. Conditions are improved greatly over the last few months and in comparison with a year ago.” Ahead of Last Year The Prest-O-Lite Storage Battery Company is running about the same as last month, but ahead of last year on new equipment business and about the same on replacement business, it was reported. The plant's pay roll last week was the highest of the year. Officials said they were experiencing a slow upturn now, but did not expect any phenomenal increase until next month. Raw material prices have increased 25 per cent in the last thirty days, they added. An improvement in orders, employment of a few more men. and longer working hours, was the report from the Link-Belt Company. Stutz Motor Car Company officials said they have received an increase in orders in the last few weeks, but have not yet started to fill them. They said inquiries on both the PakAge car and the higher priced passenger cars are unusually numerous. Prospects Called Good Kingan & Cos., in the midst of the j busy season reported sales showing I but little improvement, but the busi- j ness on a more satisfactory basis. Prospects for business next jpll are good, officials of the Kahn Tailoring 1 Company said. In dollars and cents, j the plant is running even with .\*3t year, but considering the lower prices now, this means increased volume, it was added. Employes of the plant are working more hours at present than at the same time a year ago. * Working force at the United States Rubber Company plant has been increased 35 or 40 per cent, nearly 400 men, in the last few

Tbe ’Economical Voice of Million > iSoap Suds and Sudden Stops! tTNDEED, if it were not for those stops in the * wash-day program : : : and the numerous trips upstairs to answer telephone calls : ; ; this business of doing one’s laundry would be over in ’most no time at all. A handy, inexpensive extension telephone in the basement is one sure cure for w'ash-day worries :;: saves miles of steps ::: and adds the final touch of efficiency to the well-arranged modern household. Indiana Bell Telephone Company

Dr. Herman Morgan, secretary of the city health board, declares that summer is the healthiest season of the year if people will observe a few simple precautions. “Adults should eat the usual foods in moderate amounts,” said Dr. Morgan. “If one feels ill. it is well to keep in the shade. Heat prostrations usually follow some indisposition. Take your sunshine in small doses.” Dr. Morgan feels that children should be watched carefullly in warm weather. He stresses the avoidance of raw fruits and vegetables in their diet and recommends tepid baths one to five times a day. "Above all, mothers should not worry in this weather. A heat wave is not as bad as a sudden change in temperature." A noted pediatrician on the staff of Riley hospital told The Times that an electric fan, placed well away from the child, so that the breeze does not play directly on the infant’s body, is helpful. This physician advised cutting down the food of young children and feeding them plenty of liquids. He stressed the importance of a certain amount of sun, but not too much.

j months due to increased orders, and j is working day and night to catch up with orders. Improvement in orders at the Diamond Chain plant has resulted in calling back a few former employes. National Malleable and Steel Castings Company is going through a seasonal rush, but the season is holding on a little longer than usual and production is possibly 10 per cent more than the normal increase, it was reported. FLOOD PREVENTION PLANS ARE TALKED City May Seek $1,500,000. Works Board Hints. The works board will confer early next week with Mayor Reginald H. Sullivan on plans to obtain $1,500,000 available under the public works act for flood prevention work on White river and Fall Creek boulevard. Others who will participate in the conference are Lieutenant Colonel W. A. Johnson, army engineer; A. H. Moore, city engineer, and Mrs. j Virginia Jenckes, Indiana congresswoman from Terre Haute. Tentative plans call for dredging a 650-foot channel in White river with a twenty-foot flood, wall from Washington to New York streets with a twenty-foot wall and roadway on Fall Creek from New York street to Indiana avenue. Construction of anew bridge at Indiana avenue and extension of three others also is contemplated.

LEARN Evening Law School ■ ■■■ K OPENS SKI'T. 11 Til mW I 36th Year M WW Throe - year standard ■■■■ ■ V legal course leads to LLi.B. • degree. Catalogue Upon Request. BENJAMIN HARRISON LAW SCHOOL 1152 Consolidated Bldg. Riley 5887

Men’s Summer Suits Linen, Seersucker, etc. Laundered, 51c PROGRESS LAUNDRY

PAGE 3

BABY'S BIRTH WINS PAROLE FOR MOTHER McNutt Takes Action When He Learns of Event. Motherhood has freed Mrs. Florence Nance. ’’6. Frankfort, from the Indiana women's prison where she has been serving a manslaughter sentence. A baby daughter was born to Mrs. Nance at Coleman hospital Wednesday. Learning cf the birth Friday afternoon. Governor Paul V. McNutt paroled the woman. She was serving an involuntary manslaughter sentence, minimum to expire in February. 1934. for killing a Frankfort school boy with her car. Death freed Mrs. Daisy Harmon. 52. who was serving a life sentenco at the prison for murder of her ward. Anthony Brabender, 13. Sha is said to have confessed, after conviction. that she killed the boy to collect $4,200 life insurance. She died at the Robert W. Long hosDital and the body was taken to Gary by a daughter for burial. For quick recovery’ of your lost articles, call Ri. 5551 and place a TWA lost ad on the job.

__

j With the return of keg beer* | we expect to see the “growler" industry doing a rushing business. nan Tire prices have gone up twice since May Ist. Those who bought are 20 per cent ahead. The future points to further increases. Why wait for a flat or blow-out when you can not only save money by buying tires now but he sure of safe travel for many thousands of miles. I.et us equip your car with a complete set of Miller Geare<*-to-the-Road Tires now—the lowest priced tires you can buy because they are GUARANTEED IN WRITING to go the farthest. Terms gladly arranged to fit your purse. an n New York City has 2,000 men who make a living by selling their blood for transfusions. That’s blood money. ana No other method of lubrication can give, you the same efficient greasing as the MOTO-SWAY system. It permits the service man to accurately locate places which you could only discover (through sound) while on the road. You can easily figure the difference this makes in the riding comfort of the car and in the saving on repair bills. MOTOSWAY lubrication is an added service that is not added to the charge. You don’t pay a cent more for this new, better way of lubricating under actual road conditions. nan We are open until midnight tonight and all day Sunday until 10 P. M. n n CHIEF TIRE CHANGER MILLER TIRE DISTRIBUTORS