Indianapolis Times, Volume 45, Number 85, Indianapolis, Marion County, 18 August 1933 — Page 8

PAGE 8

CRASH LAID TO 'JUST AROUND CORNER’ THEORT Couzens Said Banks Were Permitted to Operate Outside Law. BY JAMES C. AUSTIN I’ntted Ffp*i Miff DETROIT,. Aug. 18—Firm belief of the Hoover administration that ‘‘prosperity was Just around the 1 corner” led federal officials to per- . mit banks to continue operations against the letter of the law. Sen- - a tor James Couzens today told the <* grand Jury probing bank failures r In Detroit. ‘‘Every one from Hoover down,"

Couzens te s titled "felt that prosperity was Just around the corner, that better times were coming. "The attitude of federal officials was that it might be better to give the banks the chance rather than to close them.” The senator explained that federal officials

Couzens

realized that many of the assets of banks, listed as undesirable, were depreciated due to the depression, and that they would appreciate, with return of good times, sufficiently to place them again in a favored position. Between $35,000,000,000 and $40,000.000.000 of deposits in various banks in the country' never have been affected because these banks were soundly managed," he said. Good and Rad Ranking "That is the difference between good banking and the vile speculation here in Detroit. "The debacle (the Detroit bank failures) was due to an orgy of high finance. I know of no other city where there was such pyramiding. where there were created such fictitious values.” To the question of Prosecutor Harry S. Toy that "the government must have had a hand in this orgy of high finance." Couzens explained that the government has no lawful right to interfere before loans are made. He said millions of dollars were loaned in Detroit by banks upon their own stock—"a violation of law.” Oeny Ranks in Good Shape “The government was not delegated by law to dictate the wisdom of consolidations,” he added in explaining that much of the high finance to which he referred was the wholesale consolidation of banks during the boom times. “Several bankers testified here before." Toy said, “that as late as December of 1932 the banks were in good condition.” “That,” replied the senator, "is not true.”

FIREMAN NABS NEGRO IN PLUMBING THEFTS Chases Down Suspect'Seen Carrying Fixtures from House. Robert Nelson, 31, Negro, 1120'i Brooks street, is under arrest today, charged with looting vacant houses of plumbing fixtures. Nelson was captured Thursday night by Flemming Lindsay, 42, Negro fireman, who turned policeman for an hour. Lindsay, gazing out the window of his house at 2409 Highland place, saw a Negro drive a truck into his yard. He said the man went into a vacant house at 2417 Highland place, soon reappearing with plumbing equipment, which he placed in the truck. The fireman gave chase and stopped the truck at Fall Creek boulevard and Twenty-first street. Nelson, he said, offered him money to keep quiet. Lindsay called police. License of the truck, police said, was issued to Paul Mills, 357 West Thirteenth street, whom they charged has a police record. STORM CAUSES LOSSES Trees Torn Down, Crops Damaged hv Gale at Bedford, Ind. - By I'nitfd I'rrui BEDFORD. Ind., Aug. 18.—The water supply was shut off, trees were blown down and crops were damaged here Thursday night by an electric storm that struck at the hour. The transformer at the city sedimentation basin was burned out and another \ve s damaged. Streets were blocked as trees were blown down and power lines of the Public Service Company of Indiana were put out of order.

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A SQUID RED SQUIRREL •° o ° ° <S EQUIPPED WITH A SET OF SENSITIVE NERVE - BRISTLES, WHICH HELP GUIDE ITS STEP. SOME ARE ON THE FOPE FEET, SOME ON THE STOMACH AND SOME ON THE CHEEKS/ frlß|c mm mwa ms.

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WOMAN IS FINED FOR POSSESSION OF LIQUOR Party Hostess Convicted of Owning 400 Quarts of Beer. Police found three men gathered for a "party” at the home of Mrs. Rose Jones. 2212 Woodlawn avenue, in which officers charged were 100 quarts of beer on ice, 400 quarts more in the basement and a quart of whisky in the corner, on the night of July 28. In municipal court today, it was hard for Dewey Myers, judge pro tern, to believe the testimony that

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Mrs. Jones neither sold nor gave away liquor the night of the party, especially as several of the men were alleged to be drunk at the time. She was fined SSO and costs for liquor possession.

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THE INDIANAPOLIS TIMES

2 DETOURS ARE ELIMINATED IN | ROAD SYSTEM New Oiling Projects Are Outlined in State Bulletin. Elimination of construction detours on state roads 34 and 234. and start of new oiling projects are outlined in the weekly bulletin of the state highway commission today. General road conditions were listed as follows: Road 1--Bridge run around at .7 mile north of Camondge City. Bridge in Bluffton limited to ten-ton capacity, detour for heavy trafllc only. Road 3 Detour from Junction of Roads 3. 5 and 18 to 2 5 miles north of Road 118. Is thirteen mile* via Warren, fair graves road. Detour from .7 mile south of Vernon at Junction of Roads 7 and 3 to four miles south is five and one-half miles, fair gravel and stone. Road s—From the Junction of Roads 3. Sand 18 use same detour as listed for Road 3. U S Road B—Detour near Tracy Is 3 5 miles, oil material. Road 7—Detour from east city limits of Columbus south, is eight miles, good gravel Road B—Bridge run around at .2 mile west of Junction with Road 43. Detour from Crown Point west, is 9 miles, paved surface. Road 10—Detour from Illinois east is ten miles, pavement. Road 13—Bridge run around at onehaif mile north of Btrawtown: 5 miles south of Elwood and one mile north of Elwood. Short detour In Elwood. city streets. U. S. Road 20—Detour from west of Chesterton Is 14 miles for westbound traffic. 2.2 miles for east bound traffic, good stoneRoad 21—Drive carefully over new pavement south of Peru Detour from 7 miles southeast of Peru to twelve miles west of Marion Is thirteen miles, fair gravel. Bridge run-around four miles west of Matthews. Road 22—Drive carefully over new pavement from Burlington east. Road 25—Drive carefully between Odell ana Shadeland. new pavement. Road 26- Detour west of Rossvllle Is four miles. Detour from Road 41 east Is three miles over fair gravel. Three-ton load limit on bridge aamuged by rains, four miles west of Road 9. Bridge runarounds l'i miles west of state Road 9 and at l l * miles west of Road 13. Threeton limit on bridge at four miles west of Road 9. U. S Road 27—Detour from Portland to Bran is twelve miles, good gravel and stone. Detour from Lynn to Chester is fourteen and one-half miles, paved road. Road 29—Brtdeg run-around between Burlington and Junction with Road 18. Road 35—Detour between Pamvra and New Salisbury Is six and one-half miles, narrrow stone road. Detour from Mor-

Kit town to Bean Blossom la ten and ooeIf miles, fair gravel, narrow. V. 8 Road 38—Drive alow over new ' pavement between Danville and Bainbridge Bridge run-around four miles east of Lynn. Road 38—Detour from Noblesriiie to Sheridan Is over Roads 32. 31 and 47. twelve mlies U 8 Road 4i—Bridge run-around south of Junction 53; drive carefully. Road 43—Drive carefullv over seven miles of new cavemen? north of Spencer. Detour from one and one-half miles south of Clnverdale to ten miles south is thirteen miles over fair macadam surface not suitable for heavy traffic Bridge runaround four miles south of LaCgpsse. Read 44—Detour from Budd east at Junction Road 35 is four miles, good gravel. V 8 Road 50—Drive slow over new pavement between Shoals and Bedford Detour from Bedford east Is 9 5 miles fair gravel and stone, narrow. Bridge-run-around east of Wheatland Read 56—Detour from Guilford to Dover is 10 5 miles poor gravel. Detour from one mile sooth of Otmell to two miles north of .Tasoer is fourteen miles, fair aravel Detour passable onlv In drv weather. Road 87—Drive carefully over new pavement north of Spencer. Road 101—Detour from Roseburg to Brcoltville. Is twentv-three miles, seventeen mil*-* paved, six miles good gravel Road 163 Detour from Blanford to two miles west of Clinton s eleven miles, five miles concrete and six miles gravel Road 244—Detour frm Milrov to four miles west, six-mile de our. good gravel. The Vitamin Institute at Oslo has made experiments which indicate that halibut liver oil has content of Vitamin A fifty to a hundred times greater than cod liver oil.

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FACES BIG FINE FOR HAVING NO DRIVER PERMIT Man Whose License Had Been Suspended Back in Court; Judge Angry. Pleading guilty to driving an automobile after his driver’s license had been suspended. John F. Troy, 34. of 534 West Abbott street, today was ordered held on high bond by Municipal Judg* Dewev Myers. On Saturday he may be fined as much ,as SSOO and sentenced to as much as six months in jail. Myers ordered the proper charges filed against Troy and set the case for Saturday morning. Under the law. a jail sentence is mandatory. Troy was arrested Thursday bv Motorcycle Patrolman Fred W. Titus for running through a traffic

signal at North and Pennsylvania I streets. Troy had no driver s license with him, and was slated on those 1 two charges. In court today, probation officers informed Myers that Troy had been arrested last February’ after his automobile had struck a curbing and bounced against a truck. Judge Clifton R. Cameron sentenced him to thirty days on the state farm on a reckless driving charge, and suspended the days, on payment of a $25 fine. Probation officers said Troy paid the fine. At the time, he also was fined $lO and costs for driving a car while drunk, his driver’s license suspended and he was put on probation for one year. Statehouse records uphold the

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AUG. 18, 1933

suspension report, Myers learned, and ordered Troy before him. "You were driving a car without a driver's license, when you knew that the license had been suspended for one year,” Myers charged. Troy admitted it. WOMAN’S PARTY MEETS Resolution Pledges Support to Roosevelt NR A Program. Indiana branch of the National Woman's Party met at the home of Mrs. Ovid Butler Jameson. 1035 ' North Pennsylvania street. Thursday. A resolution was passed pledging support to President Roosevelt s NRA program. The organization will take part in the gigantic NRA parade here Monday.