Indianapolis Times, Volume 46, Number 131, Indianapolis, Marion County, 11 October 1934 — Page 9

OCT. 11,1931

BANKERS URGE TIME DEPOSIT INTEREST CUT Region Five Group Hears Kreisle Urge Change to Hike Earnings. - Sprtfrtl TURKEY RUN STATE PARK. Oct. 11—The need of Indiana banks and trust companies to reduce interest rates on time deposits below the current rate, 3 per cent annually, was stressed here today at the twenty-fifth annual meeting of Region Five, Indiana State Bankers’ Association. Magnus J. Kreisle, Tell City, association president, proposed that the Indiana financial institutions commission co-operate with bankers throughout the state in supporting several bankers' groups which already have followed the lead fn other states by reducing the time money rates in the interest of more adequate earnings. Mr. Kreisle discussed the rapid spread of the measured service lor peeking accounts among Indiana banks and said that more than 50 j per cent of the state's banks already j are contributing to sounder condi- | tions through adoption of the plan, i Robert H. Myers, Muncie, chair-'

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METHODS OF EXTINGUISHING OIL, GASOLINE FIRES DEMONSTRATED

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Demonstration of methods of extinguishing oil and gasoline fires was repeated today at the old baseball park, 1200 block, West Washington street, in connection with local observance of fire prevention week. The demonstrations are being given under the direction of Battalion Chief .Bernard Lynch, head of the fire prevention department.

man of the association's committee of bank accounting and revenue, stressed the need of additional earnings for Indiana banks and called the measured service plan the most modern method of placing commercial banking on a basis where former constant losses of too small ar.d too active accounts are eliminated. B D. Mitchell, Kokomo, vicepresident of the association, speaking on. ‘‘Our Banking Problems,” pleaded for great courage among

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THE INDIANAPOLIS TIMES

istration and the Indiana bankers; Glen E. Buzick, Fowler, region president, and F. D. Curda, Chicago, member of the executive council of the American Institute of Banking. Reports Theft From Purse Mrs. Brice Hare, 3415 Park avenue, reported to police today that her purse had been opened and SSO taken while she was in a downtown 5 and 10-cent store yesterday.

LABORATORIES ARE DEDICATED BY ELILILLY’S Three Famed Scientists Join Ceremonies at New Research Unit. The new research laboratories of the Eli Lilly <fc Cos. were opened formally today wih a luncheon at the laboratories. Three distinguished scientists spoke at the dedication ceremonies following the luncheon. The scientists. Sir Henry Dale, head of the British Medical Research Council’s biochemistry and pharmacology department; Sir Frederick Banting, Nobel prize winner and medical research professor at the University of Toronto, and Dr. Irving Langmuir, another Nobel prize winner and a General Electric Company physicial chemistry research worker, praised the accomplishments of the company in the field of research. Sir Frederick, then not yet knighted, isolated insulin several years ago. The development of insulin in the commercial field came largely through co-operation between the then Dr. Banting and Lilly chemists here, Lilly officials have said. Mr. Langmuir, though a compara-

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lively young man. has been known widely for several years for his work in advanced chemistry. Other speakers were Eli Lilly, chairman of the board, and J. K. Lilly, president. The laboratory's distinguished visitors will be guests at a dinner to be held in the Indianapolis Athletic Club tonight. Those at the speakers' table will include Sir Frederick, Sir Henry, Dr. Langmuir, Dr. Elliott P. Joslin, Boston; Dr. Frank R. Lillie, Chicago; Dr. George R. Minot, Boston; Dr. Charles R. Stockard, New York; Dr. George H. Whipple, Rochester, N. Y.; Dr. Carl Voegtlin. Washington, and Dr. C. H. A. Clowes, Lilly research laboratories director. The public may inspect the new unit between 9 and 5 today and tomorrow. Visitors at the dedication ceremonies will inspect the unit late this afternoon. GUARD CAPTAIN FINED SIOO IN FRAUD CASE Evansville High School Teacher Convicted by United States. By United Pm* EVANSVILLE, Ind., Oct. 11 Lyle V. Courtney, Indiana national guard battery captain and physics teacher at Bosse high school, convicted in district federal court on a charge of filing a false claim against the government, was fined SIOO by Judge Robert c. Baltzell late yesterday.

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