Indianapolis Times, Volume 45, Number 133, Indianapolis, Marion County, 13 October 1933 — Page 36

PAGE 36

LOWER INTEREST RATE PROPOSED TO HELP BANKS Less Than 3 Per Cent on Savings Advocated by State Official. Reduction in interest rate on savings deposits and time certificates below the present 3 per cent was advocated last night by Herman B. Wells, secretary of the state department on financial institutions, Mr. Wells spoke at the annual meeting of Group 4 of the Indiana Bankers' Association, with delegates from Marion, Boone, Hamilton, Hancock, Hendricks, Johnson, Morgan and Tipton counties present. The state banking commission established a maximum rate of 3 per cent, although sentiment of the body favored a still further reduction, which may be accomplished by co-operative action of individual banks, Mr. Wells declared. He also urged the formation of regional clearing houses, a move also said to have the support of the state commission, but unable to re- , ceive official sponsorship because of press of other matters. The regional clearing house plan was incorporated in a three-point platform announced as the association’s goal by Felix M. McWhirter, president. Other points set for early accomplishment are a uniform rate of service charges and a state-wide radio system for state police. Progress has been reported by a committee raising funds for the radio service, Mr. McWhirter said. Earl Crawford, Milton, banker and speaker of the house of represents- j tives, described a metered plan of service charge used effectively in his own bank. The quick freezing method is being applied by government scientists ' to ducks, chickens and other poultry, and these birds held in cold storage six months or more are said , to be scarcely distinguished from fresh-killed birds in taste and appearance.

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BANKING FIRM CHIEF SMILES AND TESTIFIES AT SENATE HEARING

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A smiling and willing witness, Clarence Dillon fleft), of the New York investment banking firm of Dillon. Read & Cos., is shown at the Senate stock market' inquiry with Senator James Couzens as he

MATERIAL REACTION STIMULATED BY DRUG Rabit Does Provoked to Make Nests by Injection. Bit Rrirnrn Rrrrirc " • CINCINNATI, Oct. 13.—Nestmaking by female rabbits, long regarded as a typical example of purely “instinctive” activity, has been artificially provoked by injecting a commercial drug containing an active principle from the glands of pregnant women. Results of experiments producing this result are reported by Esther Bogen Tietz of Longview hospital here, in the current issue of Science. A female rabbit alw'ays makes a nest out of her own fur just before her young are born. She plucks this fur from the lower side of her

described how- his firm floated investment enterprises. The inquiry revealed that the firm, on an original investment of $5,100,000, formed two investment trusts with a combined capital of $90,000,000.

I body, and cards and fluffs it with ! her claws. When the young are born, she covers them up with this I loose fur, most carefully, presumably to keep them warm and to keep their tiny wet bodies from drying off too rapidly. The whole thing is a procedure quite alien to anything a human mother does, yet the gland extract from expectant human mothers has sufficed to provoke this typically maternal reaction in nonpregnant rabbit does. Parole Official Promoted BLOOMINGTON, Ind., Oct. 13. Promotion of Dr. Frank Hope, Bloomington, to state parole agent at the reformatory at Pendleton and appointment of Clyde Snoddy, also of this city, to succeed Hope as field parole agent in Marion, Morgan and Monroe counties, was announced here today. Both appointments are effective tomorrow.

THE INDIANAPOLIS TIMES

CONFESSIONS TO 24 BURGLARIES CLAIMED Police Hold Pair Accused in Series of Safe Jobs in City. Confessions of guilt in twentyfour burglaries, mostly safe “jobs,” are said by detectives to have been made today by Jasper Gatewood, 48, of 620 East North street, and Booker Walker, 32, Negro, 2413 Martindale avenue. Loot ranged from $2 to sllO, according to the statements, and much of it was taken from safes battered open in coal company offices. At Gatewood’s home, police reported finding an electric drill, pinch bar, hammer, copper wire, shotgun shells and a Federal Reserve bank money sack. The men are held on burglary charges.

2 WOMEN HURT AS TRUCK HITS RAIL ABUTMENT Driver Arrested on Drunk, No License Charges After Crash. Two women incurred head cuts last night when a truck in which they were riding struck an abutment of the Big Four railroad elevation at East Raymond street, then banged against both sides of the approach. The injured were Mrs. Elsie Conway, 21, of 2028 Prospect street, and Miss Eleanor Walker, 19, of 1118 Linden street. The former’s husbend, Edgar Conway, escaped injury’, as did the driver, Wilbur Redman, 26, of 1022 Virginia avenue. Police arrested Redman on charges of drunkenness and no driver’s license. Mrs. Cynthia Willoughby, 45, of 624 Coffey street, incurred a hip injury when she fell from an automobile driven by her husband, Jesse Willoughby, at Oliver avenue and White River boulevard. The engine of the car stalled and Mr. Willoughby got out on one side of the car, his wife on the other, and she missed her footing on the running board. In the twenty-eight-year fight that has been waged on the gypsy moth in this country, some fifty kinds of wasps, beetles and other possible moth enemies have been tried as attackers.

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OCT. 13, 1933