Indianapolis Times, Volume 46, Number 65, Indianapolis, Marion County, 26 July 1934 — Page 24

PAGE 24

STATUTE BARS PROSECUTION IN VETERAN CASES Three-Year Federal Limit Applies, Cleland Says, After Hearing. fContinurd From Page One i a missing account book of the bank's transactions in securities could be found, but presumed it was turned over to the bank s receiver. The bank receiver has denied having the book m his possession. ‘Sad Experience’ Recalled Mr. Rhuc termed the handling of the veterans’ estatees as a “sad experience." but defended co-officials of the Grant Trust by saying that he did not believe they would "admit they were speculating" with trust funds or securities with bank money. Mr. Rhue told how the old Cm- j sen s Trust Company, a predecessor | of the Grant Trust, had competed ; with other Marion banks for guardianship business bv soliciting this business at the Marion national veterans’ hospital. Questioned about the unloading' into veterans’ estates of saoo.ooo in ! poor securities and large blocks of real estate at the time of the i ger of the Grant Trust with the old First National bank in order to clean up the trust company's books,! he said: "There was too much rash there to make a final report look right.” “And wasn't there too much cash in the veterans’ estates and not enough in the bank?" pursued Mr. Cleland. Officials Felt “Uneasy” “Well, they were uneasy and i thought it would be better to give j the veterans the securities.” the wit- j ness retorted. “You thought that was better j then the estates having cash to j their credit?” asked Mr. Cleland. The witness did not reply. He admitted that he did not know that the bank had transferred de- | faulting securities without proper court orders. He laid much of these financial transaction and of the administration of veterans' trusts onto the bank's president. J. W. Stevenson, and Marshall Williams, the trust officer, and denied that he was at all times Mr. Stevenson's spokesman. Times Ryan Expose “But you didn’t approve of the j bank's method of doing business, did you?’’ interjected Congressman Charles Plumley of Vermont. * That crowd got away with it and made money until the depression i came by paying higher ijates of in- j terest on trust investments than the other Marion bank," the witness replied. The investigation was begun several months ago following disclosures in the Indianapolis Times exposing the mismanagement of veterans’ estates.

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TRAILED DILLINGER

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GROUP NAMES OFFICERS Mrs. Forrest Harklev Heads Birth Control League. Members of the Central Birth Control League, meeting for reorganization last night in the Kahn building, elected Mrs. Forrest L. Harklev, president. Other officers named were Dr. Milton C. Hammer, vice-president, and Ruth Russell, secretary-treasurer.

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ROOSEVELT FILLS RAIL PENSION POSTS Retirement Board Personnel Now Complete. i Bn I nitrrl Pro* ABOARD S. S. NEW ORLEANS. July 26. —President Roosevelt completed personnel of the new railroad retirement board today by naming representatives of labor and industry to the body. The presidential appointees are John T. Williamson. Chicago, recsommended by the railroad executives, and Lee M. Eddy, St. Louis, recommended by railroad labor. Previously Mr. Roosevelt had appointed Murray Latimer as chairman of the board. Union Leader Quits Candidacy Bn I nitrrl prrtm PITTSBURGH. July 26.—Earl J. Forbeck. leader of the Amalgamated Steel union's rank and file group, j today withdrew his candidacy for ! presidency of the Amalgamated | Association.

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.THE INDIANAPOLIS TIMES

MAGICIANS GET CHARTER Hocus Pocus Club Also Takes New Quarters. Members of the Hoosier Hocus 1 Pocus Club, an organization of magicians, will move into new quarters at 1320 North Meridian street ! in the near future. The charter 1 of the club was received last night I jat a meeting in the American Legion Canteen Club.

Dr. HENRY M. SCHMIDT OPTOMETRIST Eyes Examined-Glasses Fitted 106 N. Pennsylvania St. Ground Floor, Fletcher Trnit Bids-

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.JULY 26, 1934