Indianapolis Times, Volume 45, Number 294, Indianapolis, Marion County, 19 April 1934 — Page 5

APRIL 19.1934

U. S. LOANS TO BUSINESS MAY BE MADE SOON Roosevelt Urges Financial Aid for Small Firms Immediately. BY RITIf FINNEY Time* Special Writer WASHINGTON. April 19. The Icy pools of credit which have such cold comfort to would-be borrowers will start thawing very soon, if present signs and portents can be trusted. For a month, senate and house banking committees have dallied with President Roosevelts recommendation that government money be made available for business loans. Within the next few days, fires probably will be lighted under them to make them act quickly. The reason is the forthcoming report of Clarence Darrow's advisory review board on the situation of small business men under NRA. The report will say that small business is oppressed by the recovery act. It will be received by the President Saturday and about the time it is made public something else will be made public, showing how well small business is faring at the hands of this administration. Government loans to business will be the answer, according to every present indication. Asks Intermediate Banks When NRA called business men to Washington early in March to talk over the industrial program, it reported that most of its complaints from small business men concerned their difficulties in borrowing. Local banks are refusing to finance small concerns and in many communities no banks are open, it found. President Roosevelt passed this word on to congress and asked that intermediate banks be established in the federal reserve districts to make loans to small and medium sized industries. If these small concerns find themselves suddenly in a position to snap their fingers at their bankers they will forget about charges that NRAfostered monopolies oppress them, some of the administration advisers think. A survey by the treasury, RFC and the lederal reserve disclosed that $700,000,000 is urgently needed by small business for working capital. The money would make possible employment of 378,000 new workers, they found, plus continued employment of 346,000 others. Three Proposals Submitted The congressional banking committees are snarled in a question of procedure. They have three proposals before them, the one for intermediate banks recommended by the President and the federal reserve, another for direct RFC loans submitted by RFC Chairman Jesse Jones, and a third by Senator Carter Glass, which calls for loans from federal reserve banks themselves. The administration has other communities ready for the Darrow board’s report. NRA’s planning and research division has been making a special study of small business and is hurrying its findings together. To answer the charge of Senator William E. Borah that ‘‘unfair competition is driving out of existence hundreds of thousands of small business men” it has figures just compiled by the federal reserve board showing that commercial failures are occurring less than half as frequently as a year ago. In January, 1.364 firms failed. In January a year ago. the total was 2.919. In the last six months of 1933, during all of which the recovery act was operating, 2.856 firms with liabilities under $5,000 failed while the number was 5,130 in the last six months of 1932. McLeod Bill Scored NRA administrator Hugh Johnson says NRA codes have curbed chain stores and other large enterprises to the advantage of small competitors by keeping them from selling below fixed levels. Myron W. W. Watkins of Consumers’ Advisory Board also reports that in many industries, codes handicapped large firms, helped small ones. Congressmen are beginning to discover that there is political dynamite as well as political salve in the McLeod bill for paying off depositors in closed banks, and the White House is losing no opportunity of rubbing this in. Three times within the last three days, administration spokesmen have pointed out that against the people having money in closed banks must be weighed the thousands who accepted 50 or 60 cents on the dollar and can be counted on to harp if their neighbors are now paid in full by the government.

J HB Round Trip I I Every Saturday W W O-Mfr 6.45 ■ _____ or ;//KJ P. .W.) U PITTSBURGH Mio ST. LOUIS ■•Round .4 fril2l-Z2.Lv.10.55P.M., ■ Trip Sal. or 2J5 A. if. and 8.26 A ■ if.. Sun. JQ7S COLUMBUS, 0. ■J Round $2.25 DAYTON, 0. ! Tnp $1.65 Richmond, Ind. Leave 6.45 P. if. every Saturday or 6.20 A. if., Sundays *OIO LOUISVILLE Every Sunday P (Leave 820 A. if.) Coach Service only. Returning: Leave destinations same Sunday night arriving Indianapolis Sunday night or Monday morning. FRIDAY TO MONDAY TRIPS (ROUND TRIP FARES) ss.so To CHICAGO SS.6o To LOUISVILLE Reduced Pullman farts dm connexion vrtlk tickets to Chicago. Orta fly reduced round-trip rat I and Pullman fares every week-end between all stations. Phour Riley 9331 or apply to ticket cents. Pennsylvaniaßailroad

IT’S CHERRY BLOSSOM TIME AGAIN IN CAPITAL

By United Prrxx WASHINGTON. April 19. —The capital’s three-day cherry blossom festival was opened at sunrise today with a ceremonial at Tidal Basin, were thousands of native Japanese trees are in bloom. About spectators saw the pageant, with the Marine band and a score of young women dancers heading the program. Mrs. Franklin D. Roosevelt had planned to attend, but was unable to be present.

Indiana in Brief Lively Spots in the State’s Happenings Put Together ‘Short and Sweet.’

By Time* Special ALEXANDRIA, April 19.—Miss Flo Madden prizes a train time table covering the movement of the train which bore Abraham Lincoln's body from Washington to Springfield, 111., for burial. The time table was kept by her late father, Patrick Madden, who in 1865, the year of Lincoln’s death, was agent for the Pennsylvania railroad at New Madison, O. Operation of the funeral train on April 30, 1865, is outlined in the table, and gives special instructions to railroad men in handling the train.

MUM Dog Grows Old By Times Special LOGANSPORT. April 19.—A fox terrier owned by Oscar F. Fries, has attained the age of 18 years. The dog is blind in one eye and slightly deaf, but is fairly active and healthy. * a Columbus Man Favored By Times Speeial COLUMBUS. April 19.—William G. Irwin, Columbus banker, is being supported as a candidate for a directorship of the Chamber of Commerce of the United States, by the Indiana and Ohio chambers and other organizations of business men. an tt Record Class Confirmed By Times Speeial NEWCASTLE, April 19.—A class of eighty-five, the largest in the history of St. Anne’s Catholic church, received the sacrament of confirmation last night with the Rt. Rev. Joseph Elmer Ritter, bishopelect of the Indianapolis diocese, officiating. The Rev. J. J. Gallagher is pastor of the church. a a Tennis Experiment Hit Scienee Service COLUMBUS. April 19.—An experimental tennis court here will be covered with black top, a paving material, to ascertain what effect will result in night p!ay. u a a Prices Decline f!jl Science Service NEWCASTLE, April 19. Fire truck prices have declined sharply

* Banish Body Odor This Hew Odorless Way WZyrnt^Sm^ Leaves No M. S. (-Sr) W MU 1 VTU \ It isn’t the smell of a soap that gets you clean — SHE THOU6HI TOU Ordinary toilet soaps don’t lather freely enough in E N/l I |jF 11/W •*N v-J this hard water. They form a sticky soap-scum that fe * '*-* * works into the pores and dams up stale perspiration, Tppvl |D| P \/\/|T|— l ROD I StrorifT-smellino- soans —no matter how much thev m BLE, MISTER V] A \KI PI JI I y ** v l hnrc i ~r • I y vy mo II ~OUCH f >PY KICKED] •vyj

Festivities for the rest of the day included crowding of Miss Eleanor Roosevelt as queen of the cherry blossoms. She is the debutante daughter of Colonel Henry L. Roosevelt, assistant secretary of the navy. Following the coronation a horse show 7 was scheduled, with a night ceremony attending the first official illuminaton of the blossoms closing the first day events.

in nine years, Newcastle's safety board has learned. Asking bids within an appropriation of $6,000, tne board received eight quotations ranging from $3,700 to $5,900. A truck purchased in 1925 cost $12,500. a a tt Peace Leader to Speak By Times Special LAFAYETTE, April 19.—Dr. David M. Edwards, secretary of the Indiana Council on International Relations will speak tomorrow at a conference which is one of a series being sponsored by the council and the Carnegie Endowment for International Peace. Others on the conference program will be Dr. William C. Dennis, president of Earlham col'ege; Dr. Alden Alley of the National Council for Prevention of War, and Dr. Francis Onderdonk of the University of Michigan. Conferences also have been scheduled for Marion, Muncie, Anderson, and Plymouth. WOMEN HELP ROB BANK Quartet Kidnaps Vice President and Flees With $1,487. By United Pr'ess EDWARDSVILLE. Kan., April 19. —Two men and two women today robbed the Edwardsville state bank. They kidnaped K. H. Beach, the vice-president, and Arthur Knight, a laborer, and escaped with $1,487. The robbery was not discovered until Mrs. D. K. Pearson, cashier, came to the bank and found the- safe looted.

THE INDIANAPOLIS TIMES

CHURCH CLUB ACTORS WILL PRESENT PLAY Dramatic Group to Give ‘‘A Rich Young Ruler.” Members of the Olive Branch Christian Church Dramatic Club will present a play, ‘‘The Rich Young Ruler,” at 8 tomorrow 7 night in the Dramatic Arts auditorium, Pennsylvania nad Raymond streets. Principal roles are to be taken by John Bpnefiel. Arthur S':a~ —. Irene Kirkman and Cat’' , <~- ’ nas. Roses Kirkman is director. 1 111

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TROOPS READY FOR ACTION IN MINEDISORDER 21,000 Join Alabama Coal Strike, Seeking NRA Wage Increases. By Unite ft Prrxx BIRMINGHAM. Ala., April 19. Seven companies of militia were held under arms ready for instant action today as authorities anticipated further trouble in the Alabama coal fields, w 7 here 21,000 miners are on strike in an effort to force operators, to abide by an NRA wage increase order. Southern industrialists departed for their homes after mapping a campaign to maintain wage “differentials,” that is, lower wages in the south than those paid in the north in any given industry. Mine operators awaited anxiously

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for action at Washington which they hope will relieve them of the obligation to obey the NRA code, when operators obtained a temThe strike closed down all but 1 four of the state's sixty-five mines when operators obtained a temporary federal injunction restrain- : ing authorities from prosecuting j them for failure to effect the wage increases. The increase, almost destroying the wage differential, has been vigorously protested at Washington.! The operators say loss of the differential would destroy the coal industry in the south, and bring dire results through indirect channels to other southern industrias. Climatic conditions and shipping costs, the operators contend, compel them to pay lower wages in order to compete with northern mines. Hearing on the finality of the injunction will be held in federal court today. More than 250 leaders in southern industry assembled here yesterday at a meeting of the southern industrial council. Plans for a campaign to preserve the principle of a wage differential were mapped. First bloodshed in the strike was recorded yesterday when a Negro was wounded as he attempted to I enter a mine of Red Diamond Coal

Company, near Leeds. Shortly afterward. another Negro was killed by police when he is alleged to have resisted them. One bullet from the police volley struck Gordy Bice, unemployed miner, in the abdomen. Admiral to Visit Panama By r nited Pro* WASHINGTON. April 19-Ap-parently interested in first hand knowledge of Panama Canal defenses. Admiral William H. Stanley. chief of naval operations, will sail Saturday from New Yoik. for the canal zone.

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PAGE 5

PENNSYLVANIA STREET PROJECT IS DISCUSSED Works Board Has Hearing on Plana for Resurfacing. Preliminary hearing on widening and resurfacing Pennsylvania street from St! Clair to Sixteenth street was held by the works board yesterday. Estimated cast of the improvement is $74,519, it was learned. Removal of street car tracks and substitution of trackless trolleys ' was suggested.