Indianapolis Times, Volume 45, Number 203, Indianapolis, Marion County, 3 January 1934 — Page 1

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‘PADDING’ LAID TO LIGHT CO. BY PROBERS Excess Valuation Said to Be $15,000,000. Search of Books Shows. CONSUMERS ‘VICTIMS' Public Still Is Paying for •Sky-High Figures, Experts Claim. BY BASIL GALLAGHER Time* Staff Writer The merger of two rival utility companies to form the Indianapolis Power and Light Company saddled electric consumers of the city with a $15,000,000 excess valuation, according to figures obtained in the investigation of power company affairs by the public service commission. Although the alleged attempted $55,000,000 "stock grab” by Harley L. Clarke and his associates failed at the time of the merger, Jan. 10, 1927, the Indianapolis public still is paying for the additional $15,000,000 valuation granted the uti.ity by the public service commission, experts point out. In this and subsequent articles. The Times will show some of ’he alleged activities of the officials of the light company which have led to issuance of a public service commission order to show cause why electric rates in Indianapolis should not fct reduced by the commission. Hearing on the order Is scheduled for Feb. 1. Instituted by Minton Order for the hearing to show cause why rates in this city—among the highest in the country—should not be reduced was instituted by Sherman Minton, public counselor before the public service commission, after The Times had turned over to the commission the results of its independent investigation of the light company. If the $15,000,000 additional valuation had not been granted, consumers probably would have received a much larger reduction on rates at the time of the merger, according to statehouse observers. Before going into details of alleged manipulations designed, according to experts, to hoodwink the public following formation of the Indianapolis Power and Light Company, it is necessary to outline briefly the histories of the companies prior to the merger. Insult in the Picture As told in the last installment. Samuel Instill had come into Indiana. He now owned the Merchants Heat and Light Company and 28' 2 per cent of the Indianapolis Light and Heat Company. Then a brisk yc ung man with a pleasing personality stepped into the utility picture in Indiana. fTis name was Harley L. Clarke, Chicago. Clarke, now president of the Utilities Power and Light Corporation of Chicago, holding company of the present Indianapolis Power and Light Company, was looked upon then as a formidable opponent of the Insulls in the battle to obtain control of mid-western utilities. Clarke did not come directly into Indianapolis. Instead he went to the southwestern section of the state and bought a site at Edwardsport where the natural advantages for the operation of a utility plant nearly were perfect. Turns Eye on City The large tract at Edwardsport is reported to have had three stratifications of coal with the White river flowing through the property. He called the development the Indiana Power Company. Soon Insull and Clarke are reported to have “talked business," the latter having his eye on Indianapolis utilities. The boom days were upon the country, and finally Clarke sold out his Edwardsport property to Insull for a sunt report - (Turn to Page Three! FIREBUG IS GIVEN TERM City Negro Sentenced 180 Bays, Fined S3OO for Arson. William Tillett. 30. Negro, was sentenced to 180 days on the state farm and fined S3OO and costs by Municipal Judge Dewey Myers today, on a charge of attempted arson. Mrs. Cecelia Smith of 109 Douglas street, testified that she saw Tillett running from the premises at 107 Douglas street after a fire occurred there on Dec. 7. French Plane Spans Atlantic By United Pm•* ST. LOUIS. SENEGAL, Africa. Jan. 3.—The French seaplane Southern Cross left for Natal, Brazil, across the South Atlantic, at 3:53 p m. today. Times Index Auto News 13 Bridge 7 Classified 16 Comics 17 Crossword Puzzle 18 Curious World 17 Editorial 13 Financial 15 Hickman—Theaters 4 Hunting 13 Uppmann 15 Fegler 12 Radio 7 School News 4 Sports 14 State News 7 Unknown Blond 17 Woman's Page 6 Your Health 18 Delayed by trar-r'i—difficulties, the Broun, Tree; ;vJ I sju columns do not appear m this edition.

The Indianapolis Times Mostly cloudy tonight and tomorrow with probably rain or snow; not much change in temperature; lowest temperature tonight 25 to 30.

VOLUME 45—NUMBER 203

City Cops Delay Car Tag Drive State Police Begin Arrests for Displaying 1933 License Plates. Confusion existing among motorists concerning probable arrests for failure to display 1934 plates w r as clarified somewhat today by Chief Mike Morrissey. “I will not order my men to make arrests in Indianapolis until I get specific orders from the state officers.' said Chief Morrissey. “I have received no such orders.” Chief Morrissey said that he would make no arrests in the city until he was certain that every one who had made application for 1934 license plates had received tags. No Arrests Reported Although A1 Feeney, state safety director, and Captain Matt Leach of the state police flatly stated that the law was in effect today and arrests would be made, it was learned that the state police probably will make no arrests, at least today, lor failure to display 1934 plates in the city. Commissioner Feeney said that he w’ould issue no order to Chief Morrissey relative to license places. “Mv men have plenty of work to do in the state.” said Mr. Feeney, "Chief Morrissey’s men are policing Indianapolis.” No arrests for violations of the automobile license law had been report fcl at state police headquarters up to noon today, according to Commissioner Feeney. Penalties will depend upon the judge and the humor in which he happens to be, it was learned. Injunction Is Considered Subpenas to apepar in court will be given offenders by the state police. Reported threats of more drastic measures, such as the requirement of a large liability insurance policy from offei 'ers, were not seriously regarded by officials today. At county court it was reported that a lawyer was seeking to find basis for asking an injunction to restrain police from making arrests of persons w’ho failed to display 1934 plates until a “more reasonable time" has elapsed. PARENTS BACK IMMUNIZATION Association to Launch Vaccination Drive at Once. Co-operation in the city-wide drive for vaccination of children against smallpox and inoculation against diphtheria was resolved at a meeting of the Indianapolis Federation of Parent-Teacher Associations’ executive board today. Individual contact will be established immediately with the ninetyone associations, the board decided. During the w r eek, all children whose parents can not afford the protection will be immunized free of charge. Physicians will donate their services and the state health department will provide the materials. Ministers will join in the campaign. urging parents to take their children to the physician next week. The Marion County Medical Society has pledged its support to the movement as its first public health movement. Parent-teacher committee in charge includes Mrs. Edward J. Thompson. Mrs. Austin J. Edwards. Mrs. Charles D. Perrine. Mrs. Carl J. Manthei, Mrs. Glenn Parrish. Mrs. A. F. Westland, Mrs. Frank A. White. Mrs. Chester O. Martin. Mrs. Robert Mason and Mrs. E. L. Norris. 0. K. 37 CWA PROJECTS New Proposals Will Give Work to 887; Pay Roll $96,117. Thirty-seven additional projects were approved today bv the state civil works board. It is estimated that 887 more men will be employed with wages totaling $96,117. The state total to date is 3.869 projects approved employing 174.349 persons. Wages total $24,696,475 and materials $4,237,566.

Those Dillinger Blues Captain Matt Leach Has ’Em; Gets Book on Detective Work and Letter With Bad Man’s Name. CiAPTAIN MATT LEACH of the state police today received a belated ■7 Christmas eift. Maybe it was a New Year present designed to form the basis of certain good resolutions which the captain is considering—such as making the 1934 slogan of the force, “Catch Dillinger.”

At any rate the package was wrapped in holiday style, with red tissue paper bearing the address • Kaptain Leach" on one side and labeled ••Highly Effervescent’’ on the other. Within was an ancient, wellthumbed volume, which in a few years may become a curio for antique lovers. The book is titled "How To Bea Detective" and was copyrighted in 1896. Table of contents carries such illuminating chapter heads as "How to Shadow.” "Two Types of Pickpockets.” and "Value of Disguise. Such as Mustache and Beard.” In the closing chapter, there is a word of warning to students of the book. They never should become vain and puffed up over their success, it says. Then there was an accompanying letter from the anonymous

BISEASE WAR IS WAGED IN FLOOD REGION Thirty-Nine Known Dead in Coast Storm; Epidemic Is Feared. SCORES, STILL MISSING Authorities Take Steps to Protect 2.000.000 in Los Angeles. By United Pie** LOS ANGELEvS, Jan. 3.—Authorities moved swiftly today to protect more than 2,000,000 residents of Los Angeles county from the danger of disease or epidemic, which it was feared might follow' anew year's cloudburst and flood which took at least two score lives. County Health Officer J. L. Pomeroy established a field office, where f ree immunization against disease, principally typhoid, w r as offered. City and county health officials broadcast instructions to boil all water used for drinking purposes. All reservoirs supplying the city w’ith water w’ere chlorinated. These precautions w f ere taken in spite of the fact that not a single case of disease had been reported. Mud Mixed W’ith Water Water came from hydrants in Los Angeles today in muddy streams. Tons of silt and earth had been merged with the city's water supply. Bottled water companies did a rushing business. Housewives drew water from taps into bottles and buckets to .settle over night for their families’ morning coffee. Laundry in most cases was impossible. Vegetables were cooked in a brown broth of silt-impregnated water. Water taps gurgled and sputtered as accumulations of mud washed out to splatter in the sinks of a million homes. Meanwhile, with heart-breaking regularity, names of those in the missing list were transferred to the death column. Known Dead at 39 In the brush which lines the banks of the Los Angeles river, under the mud banks of washed over streets and against houses, bodies were found and identified. The known dead were counted at thirty-nine this morning. Nine others w’ere missing and feared almost certainly dead. To this toll names occasionally were added from the list of sixty-six unreported. Many bodies, it was feared, never would be recovered. Transients, unlikely to be reported missing, it was feared might have been buried in the debris. Bodies Feared Buried Among those know'n to be missing, the bodies of some almost certainly were washed to sea or buried beneath imponderable tons of debris, officials said. Governor James Rolph Jr., flew r from San Francisco to place the full resources of the state, men and equipment, at the disposal of the flood stricken area. Roland Vandegrift, California director of finance, and Mrs. Rheba Crawford Splivalo, former “Angel of Broadway,” also were in the field directing relief work. Transportation and communication systems were being restored rapidly. The Southern California Telephone Company reported 4.800 telephones out of commission, but was re-routing traffic as rapidly as possible. FALL KILLS JAHNCKE AID Tumble From Hospital Window Fatal to R. H. Skelton. B// 7 nitrd Prut* WASHINGTON. Jan. 3.—Commander Robert H. Skelton, 44, exaid to former Assistant Secretary of Navy Jahncke. was killed today when he fell from a second story window at the naval hospital. Hospital officers said there w r ere no witnesses to the fall. A board of inqust was convened immediately. Hourly Temperatures 6 a. m 27 10 a. m 29 7 a. m 27 11 a. m 30 Ba. m 27 12 (noon>.. 31 9 a. m 28

donor, with additional advice in typewriting. It urged that the captain imitate the tenaciousness of that worm with a similar name, but spelled differently. When Captain Leach reached this point in the letter, he exploded. In the first place, he didn't think the gift was fitting and the letter he considered insulting. In addition, last week he received a letter through the mail congratulating him highly on the success of the state police road it set out that the writer had stopped and talked to certain blockade officers while traveling west of Tremont. en route to Chicago. They reported that all was well and working smoothly, the letter set out. It was signed: • John Diliinger.”

INDIANAPOLIS, WEDNESDAY, JANUARY 3, 1934

‘NATION MUST GO FORWARD,’ IS THEME OF ROOSEVELT SPEECH TO COMBINED HOUSES OF CONGRESS

House Ways and Means Committee Agrees Formally on $550,000,000 Liquor Taxation Measure. $2 A GALLON IS LEVY ON SPIRITS Beer to Y r ield $5 a Barrel to Government, According to Provisions of Democrats’ Bill. y By l PtPftK . WASHINGTON, Jan. 3.—The house ways and means committee formally agreed today on the $550,000,000 liquor tax bill. Chairman Houghton said the measure would be introduced in the house later today. The Democratic members of the committee agreed unanimously on the bill. The nine Republican members, however, did not vote, leaving it purely a majority party measure. Approximately $360,000,000 of the total revenue expected to be raised by the bill would come from the sale of spirits and wines, while $160,000,000 will be raised by the levy on beer. A tax of $2 a gallon has been placed on spirits, $5 a

barrel on beer and from 10 cents to 40 cents a gallon on wine, depending on the alcoholic content. The present extra levy on blended spirits, 30 cents a gallon, will be retained. A congressional poll indicated there would be little or no unified opposition to the bill a.s approved by the committee. tt u *

Bjy United Pres* WASHINGTON, Jan. 3.—The house of representatives, with nearly its full membership of 435 present, convened for the regular session of the seventy-third congress today ready, according to majority leaders, to carry out to the full legislative wishes of President Roosevelt.

Crowded galleries lent color to the occasion. Reservations were made for cabinet members, diplomats, drawn to the great chamber In the south wing for the joint session at which President Roosevelt delivered his message to congress. Venerable white haired Speaker n a o Hjt United Prrx*

WASHINGTON, Jan. The senate convened today for a session which is expected to move swiftly and harmoniously along paths marked out in the Roosevelt, recovery program.

M'NUTT SLATE WINS FAIR BOARD BERTHS Governor’s Backer's Lose Only One Candidate in Election. Members of Governor Paul V. McNutt’s slate were successful, with one exception, this afternoon, in election of eight members to the state agriculture board at the board's reorganization meeting in the Claypool. The only administration candidate defeated was Professor R. M. Mikesell, Indiana university, beaten by Guy Cantwell, Republican, Gosport, who was re-elected from the Second district. Others named were C. H. Taylor Boonville, First districtffi Charles D. Morris, Salem, third district: E. Curtis White, Indianapolis. Seventh district: F. J. Claypool, Muncie, Eighth district; Thomas Grant, Lowell Tenth district; U. G. Brouse. Kendallville, Twelfth district, and Levi P. Moore, Rochester, Thirteenth dis- ! trict. GOLD PRICE $34.06 FOR 11TH SUCCESSIVE DAY Commodity Prices Continue to Gain, Morgenthau Says. By United Preee WASHINGTON. Jan. 3. The government held its domestic gold buying price unchanged at $34.06 per ounce today for the eleventh successive business day as Secretary of Treasury Morgenthau reported continued gains in commodity prices coincident with continuance of the gold program. FARM FUND ALLOTTED Purchase of Unprofitable Land to Be Made With $25,000,000. By l ni ted Preee WASHINGTON. Jan. 3. The Federal Surplus Relief Corporation today was allotted $25,000,000 of public works funds to initiate the government's program of buying up unprofitable farm lands and retiring them from production. WHISKY TO BE _ BOUGHT Permission Granted to Import 6.400,000 Gallons From Canada. By United Preee WASHINGTON. Jan. 3.—Holders of Federal Alcohol Control Administration permits have been authorized to import a total of 6.493.090 gallons of whisky from Canada, it was announced today. Injured in Fall A former caretaker of the old James Whitcomb Riley home on Lockerbie street, Mrs. Catherine Kindell. 507 Lockerbie street, fell at her home this morning incurring a shoulder injury. She was taken to Methodist hospital.

Some members, however, feel a lower tax should be imposed on whisky and other distilled spirits. A few representatives, however, believe a higher tax should be levied on these classes of liquor. Neither of these groups were believed strong enough to cause revision of the bill or obstruct its speedy passage. n *

Henry T. Rainey rapped the house to order, sending on its way significant session which must give anew financial urge to the recovery program and find new revenue sources to cover increased expenditures. tt n

With the traditional pomp and ceremony of anew congress beginning its work, the senate was rapped to order promptly at noon by its president, Vice-President, John Nance Gairner. The appearance of President Roosevelt to deliver his message in person in the house before a joint session of congress drew most of the throng to that wing of the Capitol. But the senate, coming together for brief formalities before marching to the house chamber, played its opening scene to scores of interested spectators.

No ‘Loghead’ So He Becomes Lockheed After His Planes. By United Preee T OS ANGELES. Jan. 3.—Allen H. Loughhead. builder of the famous Lockheed speed planes, tired of having people call him “Log-head" so he changed his name to that carried on the name plate of his planes. “People keep calling me ‘Loghead,’ ” the manufacturer explained in petitioning for the change. “I see.’’ said Superior Judge Parker Wood. “Petition granted.” 3 FREED IN REICHSTAG FIRE TO BE DEPORTED Bulgarian Communists May Be Sent to Russia. By United Preen BERLIN. Jan. 3. Three Bulgarians, acquitted of complicity in burning the Reichstag building, are likely to be deported to Russia as they desire, it was learned today. Georg DimitrofT, Communist leader; Wassil TanefT and Blagoi Popoff are the men. All are Communists and all are refugees from their own country. Like Ernst Torgler, German Communist leader acquitted with them, the Bulgarians are in “protective custody.” Health Club Sponsors Lectures A series of lectures sponsored by the Indianapolis Harmony Health Club will be given at the Lincoln starting Friday. Dr. Irene Austin, nationally known health authority, will give the lectures. Cincinnati Engineer Kilted By United Preee CINCINNATI. Jan. 3.—Henry T. Coppersmith, 64. Cincinnati, third engineer on U; S. dam No. 37, at Fernbank, was killed today when struck by an east bound Big Four train as he crossed the tracks on his .way to work.

• '/' "; * 1:7 "" • \ 0 j*

President Franklin D. Roosevelt

The text of President Roosevelt’s speech will be found on Page 8.

SENATEfROBES DETROIT BANKS Examiners Warned Against Use of Group Stock as Collateral. By United Preee WASHINGTON, Jan. 3.—Senate investigators read documents today showing that National bank examiners warned unit banks in the Guardian Detroit Union group in 1929 that their practice of carrying group stock as collateral for loans amounted to “circumvention of the law.” Bert K. Patterson, former executive vice-president of the Detroit group, testified he was chief National bank examiner for the Michigan district in April, 1929, when a field examiner took exception to $2,029,015 in loans by the National Bank of Commerce, which were secured by 2,583 shares of Union Commerce Investment Company, a holding concern which owned virtually all of the bank stock. Mr. Patterson said he signed the report “as a matter of office routine.” He said he disagreed with his subordinate's criticism, but admitted he did not advise the comptroller of currency of his disagreement. Another examination was made of the bank in October, 1929, after Mr. Patterson had become an officer of the group. The second report also protested loans of $2,294,910 collateralized by 10,665 shares of holding company stock. FALL DOWN BASEMENT STAIRS PROVES FATAL Mrs. Elizabeth Hutchinson Is Victim —Coroner Called. Mrs. Elizabeth Hutchinson. 69. of 3651 North Illinois street, was injured fatally today when she fell down the basement stairs at her home. Mrs. Hutchinson, formerly of Terre Haute, lived with her sister, Mrs. Doris Costin. A nephewdiscovered the body The coroner's office was notified. The police homicide squad was summoned to aid in investigation of circumstances surrounding the death. DOLLAR GAINS ABROAD Pound Sterling Is $5.14*4 at Close of Trading. By United Preee LONDON. Jan. 3. The dollar strengthened slightly in late trading on the British exchange market, closing at $5.14*4 to the pound sterling, as against an opening of $5.15\ and yesterday’s closing of $5.15*4. HAWAII" FLIGHT JAN. 9 Navy Chief Fixes Rate for Non-Stop Attempt of Six Planes. By United Preee WASHINGTON. Jan.. 3 —Admiral William H. Standlev, chief of naval operations, announced today that the six naval patrol flying boats would attempt their non-stop flight from San Francisco to Pearl Harbor, Hawaii, Jan. 9.

Entered a* Second Ciaaa Matter at PostotTioe. Indianapolis

‘Old Order Gone Forever,’ Nation’s Chief Executive Declares in Personal Speech to Congress. POINTS TO ‘GREAT NRA STRIDES* Makes Bitter Attack on Gamblers and Plungers Who Have Lost Fortunes for Public. BY LYLE C. WILSON Vnited Pres* Staff Correspondent WASHINGTON. Jan. 3.—The nation definitely is in the process of recovery. President Roosevelt reported to congress today in a vital message on the state of the nation which he himself read from the rostrum in the crowded chamber of the house of representatives. His message was general in terms and was regarded by the President himself as an appeal for real social and economic reform rather than for recovery in terms of older values. The President addressed a joint assembly of house and senate shortly after the two chambers convened separately for the first regular session of the seventy-third congress.

Satisfaction with the immediate past and confident hope for our country’s future marked Mr. Roosevelt’s message. Motoring swiftly from the White House to the Capitol after the opening ceremonies in congress, the President was escorted to the reading desk in the house chamber and began delivering his message at 12:39 p. m. (Indianapolis time.) Only in the field of foreign affairs did the President's optimism falter. His judgment today is that fear of aggression, expenditure of vast sums lon armaments, and the constant erection of trade barriers prevent any great progress in peace or trade agreements. Permanent readjustment of many of the nation’s social and economic arrangements was the objective placed before congress by the President. The division is sharp and dear, Mr. Roosevelt said. Between those who would recover by a return to the old order and those to whom recovery means reform of old methods. Os that latter group Mr. Roosevelt is the head. We Must ‘Go Forward’ “Civilization can not go back.” he said. “Civilization must not stand still. It is our task to perfect, to improve, to alter when necessary, but in all cases to go forward.” He counseled that without partisanship but with co-operation it is hoped there is to be built “on the ruins of the past anew structure designed better to the present problems of modern civilization.” Bound up in those problems are the relations of industry, agriculture and finance to each other. The message ..continued, and the situation of* the individual citizens and the people as a whole. Tax evaders within the letter of the law' and high officials of banks or corporations who have grown rich at tke expense of stockholders or the public drew' the President’s fire. “We have been shocked." he said, “by many notorious examples of injuries done our citizens by persons or groups who have been living off their neighbors by use of methods either unethical or criminal.” ' Attacks Kidnapers The President expressed his abhorrence equally of those notorious examples in high station and of the clan of the gun. organized banditry, lynching and kidnaping. There couia be no misapprehension of whom Mr. Roosevelt spoke. “I am speaking,” he said, “of those individuals who have evaded the spirit and puipose of our tax laws, of those high officials of banks and corporations who have grown rich at the expense of their stockholders or the public, of those reckless speculators with their own or other people’s money whose operations have injured the values of the farmers’ crops arm the savings of the poor.” The message was more than an address to congress or even to the people W’ith an aroused section of big industry moving inevitably to legal challenge of much recovery legislation. The President addressed himself today also to the third branch of government normally left to go its way alone and without advice. “To consolidate what w'e are doing,’’ he said. “To make our economic and social structure capable of dealing with modern life is the joint task of the legislative, the judicial and the executive branches of the national government.” If that is a bid for gentle supreme court treatment of the recovery cases, which shortly will be going to that august body, then there it is and out in the open. Keep Silent on Dollar Paragraph by paragraph, the President touched and dealt generally with the problems of the nation. He did not unfold to the congress his plans for currency or the dollar, but remarked briefly on his partial utilization of inflation powers and said again he was aiming at a medium of exchrnge less w

HOME EDITION TRICE TWO CENTS Outside Marion County, 3 Cents

variable in purchasing and debt paying power. Inquiry and examination have convinced Mr. Roosevelt that “certain of our sister nations” are confronted by domestic problems at this time which prevent them from entering “into stabilization discussions based on permanent worldwide objectives.” But in those words is the unqualified reiteration that such stabilization is an ultimate objective of Roosevelt money plans. Credit of the government has been fortified by the economy act, Mr. Roosevelt said, and the "overwhelming majority” of banks both national and state which reopened last spring are sound. The government in assisting in return of nearly $600,000,000 of frozen money to depositors of banks which were ffibtlicensed to resume business. The President reported great strides toward the objectives of NRA and estimated that uniform hours and wage standards apply to 95 per cent of the industrial employment within the scope of that agency. Seek to Prevent Rivalries “We seek the definite end.” he continued, “of preventing combinations in furtherance of monopoly and in restraint of trade, while at the same time we seek to prevent ruinous rivalries within industrial groups w'hich in many cases resemble gang wars of the underworld and in which the real victim in every case is the public itself.” Readjustment of machinery hurriedly devised may be necessary from time to time, the President added, in summing up the works of the NRA. “Nevertheless, I think you will agree with me that we have created a permanent feature of our modernized industrial structure and that it will continue under the supervision but not the arbitrary dictation of government itself.” The forecast that refinancing the debt burdens of farmers and home owners menaced last spring by foreclosure w'ould be effected within the financial limits set by congress. The program is proceedmg with good success. But agriculture itself has suffered from more than its debts, the President continued. Actual experience has convinced him that the agricultural adjustment administration experiment is succeeding so far in its effort to find a balance between production and consumption. Points to Flood Control “I continue in my conviction, ** Mr. Roosevelt added, “that industrial progress and prosperity can only be attained by bringing the purchasing power of that portion of our population which in one form or another is dependent upon agriculture up to a level which will restore a proper balance between every section of the country and every form of work.” Flood control, power development and land use policies are to figure largely in solution of agricultural problems. Citing the Tennessee valley and other developments, the President said his administration w'as seeking: 1. Elimination of waste. 2 Removal of poor iands from agriculture. 3. Encouragement of local industries. The ultimate cost will be great, Mr. Roosevelt conceded. He explained that heavy obligations were being incurred to start work on the Tennessee and other great watersheds because of tremendous employment needs. “I look forward, however,” Mr. Roosevelt said, “to the time in th* not distant future, when annual appropriations, wholly covered by current revenue, will enable the work to proceed with a national plan.” The return in a generation or two would be many times the money spent, Mr. Roosevelt believes. 150 Trapped in Mine By Unitrd Preee PRAGUE, Czechoslovakia. Jan. 3. —One hundred and fifty nunerti were entombed by an accident at Ossegg today. It was feared many were dead. i