Indianapolis Times, Volume 46, Number 126, Indianapolis, Marion County, 5 October 1934 — Page 27

OCT. 5, 1934.

PETTIS STORE CREDITORS TO GET PAYMENT Final Federal Bankruptcy Settlement Will Be Made Soon. Final payment of creditors of the Pettis Dry Goods Company, in federal bankruptcy for almost three years, will be made within the next ninety days. A 5 per cent payment, bringing the total paid to 224 per cent, is forecast. Claims of attorneys, trustee and receiver for their services under the bankruptcy total $52,850 with <102.336.64 cash on hand after realization on all valid assets. A hearing of creditors will be held at 10 a. m. Tuesday before Carl Wilde, federal bankruptcy referee, in room 233, Federal building, to enable them to give their views as to whether the administrative claim.? against the estate should be allowed as requested. Twelve Protests Received Twelve protests have been received to date by Referee Wilde from 1,600 creditors. Objections to the allowances to administrative and legal officials for final settlement of the bankruptcy must be in writing and be filed with the referee at or before the time for the hearing. Administrative allowances sought are as follows: Indiana Trust Company, for services as state court receiver, $1,000; Eugene C. Miller, as attorney for state court receiver, $1,000; Bamberger <te Feibleman, as attorneys for petitioning creditors, <3,500; Frpd C. Dickson as receiver, <5,000, and as trustee, $12,000; Mr. Miller and the firm of Bamberger Si Feibleman as counsel for the receiver, $5,000, and as attorneys for the trustee, $25,000; Fesler, Elam, Young Si Fauvre, $350 as special counsel for the trustee. Creditors Paid 5204.000 The bankruptcy during the trusteeship and while Mr. Dickson has been receiver has paid to creditors approximately $204,000 ar 174 per Cent of total claims. A petition in involuntary bankruptcy was filed against the Pettis concern Dec. 1, 1931, after the Indiana Trust Company had acted as receiver In superior court for a short period. Mr. Dickson was named receiver In federal court Dec. 4, 1931, and was elected trustee at a meeting of creditors Jan. 12, 1932. Total liabilities of the dry goods company were shown in schedules as $1,111,298.50. Creditors’ claims allowed bv Federal Judge Robert C. Baltzell totaled $1,088,331.53. Store Operated 5 Months For five months, the Pettis store was operated by the trustee under the federal court guidance with expenditures divided as follows: Merchandise, $280,500; wages. $133,500; advertising, utilities and insurance, $96,275; rentals, $39,000; administrative expense, $10,080; merchandise and wages in leased departments, $97,000. Mr. Dickson handled approximately $1,081,000 as receiver and trustee. He reports cash on hand at $102,366.64. All other asets have been realized upon and the final payment to creditors, as well as administrative officers of the estate, must be paid out of this cash. Total assets of the company, at the time the suit was filed, were fixed by it at SBOI,OOO. Three appraisers—Edmund H. Kassing, O. L. Miller and William T. Rasmussen — were named by the federal court to appraise the estate and fixed a value of $388,986.25. The sharp depreciation in assets, through appraisal, was in merchandise and accounts payable. The company fixed the merchandise on book value at $399,000, while appraisers fixed the merchandise at $151.31439. Accounts payable, based on face value, were set by the store at $316,000. against an appraised value of $212,000. Furniture and fixtures were appraised at $20,000, against the cempany's book value of $50,000. "Goods Sold at Retail At the conclusion of the store's operation by the receiver, every bolt of goods and piece of merchandise was sold on the retail market instead of being sacrificed at wholesale auction, Mr. Dickson said, adding that a wash-basket would have carried all the merchandise left after the final sales. A small account and a small parcel of machinery are the only items remaining to be sold by the receiver. The referee will receive between $2,000 and $2,500, under the bankruptcy statute, as his 1 per cent of claims paid to creditors. His expenses will not exceed $5,000.

vo r u a r D i°o^ FRIDAY AND SATURDAY! Dee Is Featuring an Extra Liberal Trade-In Allowance on Your Old Set! RIJIEIE33 \ —“Round the World ” Radio aMhI.QO KMttf ■ DOWN Delivers Your Listen to London. Berlin, Paris, v-. fR Madrid as well as your favorite American programs. ; V-\t Beauty: New Value.:—Tone so mi;nifient —So real that litener * tart| -<t: Corseou* modern Round the World Model* CQQ Q C featured from fJd.llD up

HEADS HOSPITAL FETE

v • v' .• ■ v ''* ■'* y&fc * Wi f/G&foab/z,

Hugh McK Landon Program observing tenth anniversary of James Whitcomb Riley hospital Sunday afternoon at the I. U. medical center auditorium is being directed by Hugh McK Landon, James Whitcomb Riley Memorial Association president. The program will be open to the public. FORMER SLAVE IS DEAD City Negro, 96, Dies While Working in Cornfield. Plans for the funeral of George County, 96, Negro, R. R. 18, Box 334, former slave, who fell dead late yesterday while working in a cornfield on the edge of the city, were being held in abeyance today while the coroner’s office sought relatives of the aged man.

MY HUSPANP A/EVtR PRESS WEU. AS HE POES NOWS — BH/rkecoAJ veNtenTjco : wrrf^ YBB* l 7 LwiTK oust w /. $9950 Z. Z. #u P I* AY *I.OO A WEEK! Gorgeously Fur Trimmed The most fascinating coat hits of the season! Outstanding in quality and tailoring details. Choose yours at this low price on Rite’s popular payment plan! I 43*45 3. Illinois St. 1 Open Saturdav Evenings

GRACE OVAL. 58, WOMAN'S CLUB LEADERJS DEAD Rites to Be Held Tomorrow for Wife of Printing Firm Member. Last rites for Mrs. Grace Shockley Oval, 58. of 4248 North Pennsylvania street, who died yesterday in St. Vincent’s hospital after a three weeks’ illness, will be held at 3 tomorrow afternoon in Flanner & Buchanan mortuary. Burial will be in Crown Hill. Mrs. Oval was the wife of Charles J. Oval, member of the firm of Oval & Koster, lithographers and ofTset printers. She was a member of the Woman’s Department Club, the Tri

Boys'Blue Melton All-Wool Worsted [ jackets syiTS jk Hot Looking $l9B TOPCOATS or Indiana winters demand a warm blue melton jacket < < |5 Bv g J I4L o 11 | \ ,4W bir boys to wear to school and play. These come ▼ *" *'■ 1 w e—V 1 pockets and a large warm collar that turns up. r ii I 11l Well made for long wear. Sizes Bto 16. ("Or /VISII 3130 l j I ..I—* —1..'., Hl—. l.n r.,. m —id I 111 ill/ II l U ! r # You’ve been thinking about a I *i, BOyS Shirts new suit, topcoat or overcoat. ! * These children’s shoes have leather soles, leath* M er linings. And they come in oxfords, straps, . //- j / p n ■ . i n i . , - f s ties, kilties in black calf, brown calf. They’ll Men s Corduroy Men s Full Lined Blue Melfon give the children good service and long wear r I, , , tt <% j i c , a -- - L '' \ and they’ll keep growing feet protected from the SLACKS, $2.95 Felt Hats, $2.45 JACKETS, $ 3.9 5 \ u-infpr wpathpr. Sizes 9to 2. _„ .. .. . . ... lilliflllll Downstairs at Ayres. Ld Übs Taj.' ,°.r pick r e . Heavy suaMy bin. melton — Blue, wine, green, leather, rust, selectionallatthisoncpr.ee. jackets with a large warm — l^ brown and orange colors. browns, greys, tans, high collar. Side pockets. Sizes Sizes 28 to 44. blues, greens, and black colors, for men and young men. Girls' Taffeta Frocks , s tfs For School or f —\ S BettST M, “* 1“ a \ SHIRTS ? dresswetl made and fashionably best’shhT'brmnls'we ' t^e ' W ° vj! iMill ~. . W; ■, | waist, sleeves and shoulders. And they’re remade C-J iriS N 0 ,’ ~~ "MrJi so that the collars will fit snug. In sizes 13 Vi to 18. An attractive group of lovely wash Fast Color Pajamas | Shirts and Shorts | 111 HTT frocks for Miss 7to 16. Choose from The shirts are of fine Swiss ill 1-1 SjM plaids, stripes, polka dots, pique collars 9 oat sty *” m " eat a " d _ _ rib knit. Sizes from 34 to \ **“ * * ’ i and self trims. Many love?/ styles in fancy patterns. Well made 44. The SHORTS are full M group. Sizes 7 to 16. and fast color. Sizes, B, C, cut and come in neat pat- C mosUy * ■ terns. Sizes 28 to 44. Girls' Winter Coats Sweaters or Skirts u„.. • c .. TT Z Z j - Mens Union Suits Mens Fancy Socks s*% Q 8 59 Each Li * ht weight or medium These have the double sole. *0 • weight. Long or short heel and toe for long wearM’ool chinchilla coats with Alaskan lamb collar. All-wool sweaters in sizes Bto 16 years. Choice rlflor 6 * Sizes Zs'tn ifi First C #" S qua,i )‘ es ’ In neat . a ”f MC. These are warmly lined. In bine, wine and of a lar*e t rnnp oi color,. Skirts ol all-wool in WM V '•"tr Pa'wrns. Sues 10', brown. Sizes 7 to 14 years. sizes 7 to 16 years. —Downstairs at Ayres. y&

THE INDIANAPOLIS TIMES

Psi Mothers Borority of Butler university and the Tabernacle Presbyterian church. She is survived by her husband, a daughter, Miss Mary Alice Oval, and her mother, Mrs. Celestia Abbott, Indianapolis. Estelle Wise Burial Funetal services for Mrs. Estelle Lee Wise, 1946 North Alabama street, who died Monday in her home, were held yesterday In Shirley Brothers central chapel, 946 North Illinois street. Burial was in Kniehtstown. She is survived by a brother, Harry Dent. Richman. James Scroggy Buried Funeral services for James Edwin Scroggy, 72, of 405 East Fifteenth street, who died Sunday at his home, were held yesterday in Frankfort with burial also there. Mahoney Rites Held Funeral services for Dennis A. Mahoney, former resident of Indianapolis, were held recently in Chi-

cago. While In this city Mr. Mahoney was an employe of the ’Western Union Telegraph Company. Surviving are the widow, a sister, Miss Elizabeth Mahoney, Indianapolis; a brother, Patrick Mahoney, West Chicago; two sons and four daughters. BEAN TANK EXPLODES; 3 WORKERS ARE HURT Fractured Arm Suffered by One Packing Plant Employe. Three employes of the Van Camp Packing Company. 2002 South East street, today were recovering from injuries received last night when a processing tank, used in the canning of baked beans, exploded. Most seriously hurt was Albert Davis, R. R. 4, Box 673. who suffered a compound fracture of one arm and deep lacerations on the back and shoulders. Edward Sherman and Luther Shivers were injured less seriously. Excessive air pressure within the tank was blamed for the blast, powerful enough to tear the clothing from those near the processing tank.

ROOSEVELT IS UNDER FIRE OF HOOVER’S AID President Refused to Help in 1933 Bank Crisis, He Charges. B{/ United Pres * NEW YORK, Oct. s.—The Roosevelt administration, just prior to taking office in March, 1933, rebuffed offers of the retiring President, Herbert Hoover, to help stave off the banking crisis so the brunt of the economic disaster would fall on Mr. Hoover and the Republican party, Theodore Joslin, Hoover’s former secretary, charged today in an article in the Red Book magazine. “During the latter days of the

Hoover adminlstratioh,” Joslin wrote* “we got information regarding the attitude of the incoming administration. I shall not disclose who gave it or how I got it. nor reveal the name of the intermediary. ■ Here is the message with the names I deleted: M ‘ had lunch with me. He j said they were fully aware of the banking situation and that the system undoubtedly would collapse within a few days, which would place the responsibility in the lap of President Hoover. “ ‘We should worry,’ he said, ‘about anything except rehabilitating the country after March 4. Then there will be several moves: No. 1, an embargo on the exportation of yellow chips: No. 2, suspension of specie payment: No. 3. reflation if necessary after No. 1 and No. 2.’ The purpose of the incoming administration, he charged, was to permit the country "to sink to the lowest depth, so that the new administration could start from the very bottom in making its recovery efforts.”

PAGE 27

Children Must Have It Vitamin “D" Gum Children cannot develop straight, strong bones without Vitamin “D”. Adults need it to fight tooth decay, and to overcome that "under-par” condition. Every day foods lack Vitamin “D”. Get it this delicious effective way. orbit Vitamin "D” Gum--50 everywhere. TRY A WANT AD IN THE TIMES. THEY WILL BRING RESULTS.