Indianapolis Times, Volume 46, Number 12, Indianapolis, Marion County, 25 May 1934 — Page 10

PAGE 10

TAX ON SILVER SALES FAVORED BY MORGENTHAU ¥ Secretary Urges Retention of 50 Per Cent Levy in Metal Bill. By United Press WASHINGTON, May 25.—Secretary of Treasury Henry Morgenthau Jr. today urged retention of the 50 ijer cent tax embodied in the administration's silver bill. I Appearing before the house ways and means committee, Mr. Morgent|iau said speculators would be the cjnly class affected by the 50 per cent tfex imposed on profits gained from silver sales or purchases. He pointed dut that legitimate business would be exempted from paying the levy. “I earnestly urge that this committee retain the 50 per cent levy,” Mr. Morgenthau said. "The administration is very anxious that this tax feature stay in the bill. Additional Revenue Foreseen : "The tax will affect only speculators who are operating in direct cbmpetition with the United States government on the silver market. 4 tax of 50 per cent is very modest,” Mr. Morgenthau told the committee. He indorsed the bill and said he hoped congress would consider it favorably. ; In response to a question by Representative Samuel B. Hill (Dem., Wash.), Mr. Morgenthau said he estiated the 50 per cent tax would result in approximately $25,000,000 in additional revenues to the government. Fetitioned by Treadway Mr. Morgenthau cautiously avoided answering questions as to what the treasury expected to accomplish under the new silver bill. “I would rather have Oliphant discuss such questions,” said Mr. Morgenthau. He referred to Herman Oliphant, general counsel to the secretary, who helped frame the compromise measure. Representative Allen T. Treadway (Rep.. Mass.) persisted in try-

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Indiana in Brief Lively Spots in the State’s Happenings Put Together ‘Short and Sweet/ By Times Special ... , SHELBYVILLE, May 25. —Highest scholastic honors among this year * graduates of Shelbyville high school have been won by Charlotte and Marion Jones, twin daughters of Mr. and Mrs. T. Dorsey Jones. Their averages were 95.96 and 95.75 respectively. Forty members of the graduating class achieved grades during tneii four years in school entitling them to magna cum laude or cum laude standing. Minimum grade for the first is 30, and for the second, 88 or 89. Twenty-six or tne forty earned magna cum laude honors.

Takes Fraternity Post ! By Time* Special BLOOMINGTON, May 25.—James I c. Kiper. Boonville. graduated from Indiana university in 1932, has gone to Chicago to begin his duties as national executive secretary of Sigma Delta Chi, professional journalistic fraternity. Since his graduation, he had been employed at the university as assistant to Deans C. J. Sembower and C. E. Edmondson. His home is in Boonville. # # Landmark Passing By Times Special KOKOMO, May 25—Filling of the Deffenbaugh stone quarry pond is effacing a Kokomo landmark of more than half a century standing. The pond was fed by springs and contained water forty feet in depth at some points. Few swimmers frequented the pond, because of the coldness of the w : ater. The quarry was abandoned on the death nearly thirty years ago of its founder, George W. Deffenbaugh. * o tt Death Wins By Times Special FRANKLIN, May 25.—Funeral services were held today for Day Smyser, 34, who for eleven years struggled against the ravages of tuberculosis. ing to draw from Mr. Morgenthau answers as to the possible effect of the silver program. "In what way w'ould it change our monetary policy, asked Mr. Treadway. "The bill, Mr. Morgenthau replied, "just declares it to be the policy of the United States, for example, that the treasury maintain one-fourth of its metallic stocks in silver.”

Six Beauties Win By Times Special BLOOMINGTON, May 25.—Six winners in a contest to determine the six most beautiful co-eds on the Indiana university campus are announced by the staff of the Arbutus, university yearbook. The winners are Mary Adaline Clouser, Crawfordsville; Vivian Brookins, Anderson; Nancy Pierson, Spencer; Marjorie Weaver, Louisville, Ky.; Catherine Feltus, Bloomington, and Pauline Rutherford. Rego. URGES CLOSER U. S. LINK WITH BRITAIN Premier Bennett Says Two Nations Hold Civilization's Fate. By United Press MONTREAL. Quebec. May 25. The hope of civilization lies in an understanding between the British empire and the United States. Prime Minister R. B. Bennett told members of the Royal Empire Society. “People ask if civilization is worth saving and how it can be saved,” he said. "There are so many experiments and so much explosive material nearby. There is one certain bulwark, one certain force that may not be denied. If we can develop in every part of the world and if the United States can be committed to a policy of maintaining the world’s peace, it would endure.” Great Britain and the United Scates could have nc finer aim, he said. On the reindeer ranches of Alaska and northern Canada, airplanes are serving as swift mounts for the “cowboys” to ride the range.

THE INDIANAPOLIS TIMES _t

10 DON'TS FOR DRIVERS LISTED BY MORRISSEY

Motorists Given Instructions for Speedway Day by Police Chief. Ten "don'ts” for motorists on Speedway day were Issued to newspapers and radio stations today by Chief Mike Morrissey. Urging courteous treatment to all visitors on the part of his police force, the chief gave the following “don’ts” to visitors and local drivers: 1. Don’t leave any valuables in a parked car at any time or place whether the car is locked or unlocked. 2. Don’t forget that the pedestrian has the right-of-way at all street intersections. 3. Don’t double park your car—it might mean a serious accident. 4. Don’t park your car in restricted parking territory. 5. Don’t drive on the left side of the street. 6. Don’t fail to obey all “slow” signs as they mean danger ahead. 7. Don't fail to come to a complete stop at preferential streets. 8. Don’t fail to have your car under control when approaching automatic stop and go signals. 9. Don’t cross the street on the “yellow” change light. 10. Don’t drive through safety zones. PLANS MADE TO LIFT SCOUT PROPERTY DEBT Council Adopts Resolution in Memory of Dr. Howe. Plans for liquidation of the debt of the Boy Scout reservation fieldhouse W'ere made last night at a meeting of the Indianapolis Boy Scout Council in the home of Earl Kiger, north of Indianapolis. A resolution was adopted in memory of Dr. Thomas C. Howe, former council president. Wallace O. Lee, commissioner, presided.

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_MAY 25, 1934