Indianapolis Times, Volume 46, Number 143, Indianapolis, Marion County, 25 October 1934 — Page 1

i

H’NUTT AGAIN 10WNS CRITICS IN RALLY TALK 'ovcrnor Captures Hostile Crowd in Republican Stronghold. JSWERS ALL QUERIES executive Scores Personal Triumph in Washington Township. BY JAMES DOSS limM St i0 Writer If has been said that Paul V. McNutt is an unpopular Governor, but as far as tne Republican Washington township is concerned, after his invasion of it last night, he is the most popular Governor the state ever had. Renewing his "open forum" cam- j paign in which he puts himseif at the merry of any heckler on any question, the Governor faced a semihostile audience of 7,500 last night at Sixty-third and ReHefontaine streets. It was the largest, political meeting ever held in Washington township. a hidebound Republican stronghold. Os course, there were plenty of Democrats in the audience, but there also were a lot of persons there who never voted for any one but a Republican. They came to jeer, hut stayed to cheer. With dignity, sincerity and urbanity, the Governor faced them and after two hours, they were his. He added what hard-headed politicians estimate at 5.000 votes to the Democratic ticket, and he won himself a great personal victory. Superior .Judge John W. Kern. Democratic nominee for mayor; Louis Ludlow, candidate for congress from the Twelfth district, and Washington township trustee, first spoke.

Parade Precedes Rally The sot tine was perfect for the Governors coup. Green and red torchlights flared, high-powered spotlights were trained from nearby buildings, and standees jostled each other in effort to get closer to the platform. There were 3,100 seats. At least Jacob Weiss, county speakers’ bureau chairman, challenged the press to count 'em, and there were at least that many persons standing. The Governor started slowly, repeating most of the speech he made the night before in the first of the “open forum” meetings in Warren township. He talked of tax reduction. H" made cold figures interesting when lie compared the Democratic administration savings with those of the preceding Republican administration. He promised a tax decrease of more than $3,000,000 for Marion county next year. Covers State Financing He covered succinctly every angle of the state financing, spoke of the hanking department's cleanup of the state banks, dwelt on the utility rate savings effected by the public service commission with Sherman Minton, Democratic senate nominee, as public counselor, and promised future utility rate slashes. He also spoke of national affairs in glowing words of tribute for the Roosevelt administration. The Governor also took up deflation, but it was the deflation of Senator Arthur R. Robinson, the Republican nominee for the senate, and the crowd laughed its approval as barb after barb punctured the pretensions of “the man who knows the mast things that ain't so" and the man who by almast unanimous vote of the Washington press gallery “will be the least missed member of the United States senate." Lauds Shay Minton “I promise you one thine." the Governor thundered, “and that is that Shay’ Minton never wall be voted the 'least missed’ member of the senate when you send him there Nov. 6 He will be there serving the people of Indiana with grace, distinction and ability and he will he working for all of the peop> of Indiana.” There were bursts of applause at each mention of Minton. The Governor got his first laugh when hp speke of “the first Republican." He had concluded, he said, that the first Republican was not Alex(Turn to Page Three 1 Linton Man Succumbs By l nited Press LINTON, ind.. Oct. 25.—Injuries suffered by Fred Payton. 35. when his motorcycle collided with a coal truck here last night caused his death in a hospital today.

THE MORRO CASTLE The burning of the Morro Castle off the east coast several weeks ago was one of the worst sea disasters in years. A board of inquiry found that general inefficiency was the cause for the disaster and the enormous lass of life. Since the tragedy much criticism has been hurled at the shipping industry. A large amount of that criticism has not carried constructive suggestions. Today The Times presents an editorial article by William McFee which apeared in a recent Issue of The Forum. Mr. McFee knows his subject. He offer* constructive criticism. Turn to the editorial page and read the article on the Morro Cattle. It will be worth your while.

The Indianapolis Times Fair tonight and tomorrow; cooler tonight.

NRA, M WF DO OUR PART

VOLUME 46—NUMBER 143

McAdoo Threatens to Disinherit Daughter to Balk Marriage to Actor

New Obstacle Is Added to Couple’s Plans; Wedding Postponed. /:•/ I nitr4 Pre HOLLYWOOD, Oct. 25. Threat of disinheritance was added today as anew obstacle to the romance of Ellen Wilson McAdoo and Rafael Lopez De Onate. dark-haired motion picture actor. Her father, United States Senator William Gibbs McAdoo, will cut her off without the proverbial penny if she pursues her intention of marrying the 38-year-old actor, Colonel William G. Neblett, the senator’s law partner, declared. Colonel Neblett has been Senator McAdoo's unofficial agent in the affair, challenging De Onate to prove he is not of Filipino blood. "Ellen has no money of her own,” Mr. Neblett asserted. "All she has is a monthly allowance given her by her father. This, and all future financial aid, will be denied her if she goes ahead with her wild plan to marry a man whom her father has never seen and of whom he knows nothing.” Faced by so many difficulties, 10-year-old Ellen and her fiancee announced all plans were off for an immediate marriage. Nevertheless, to frustrate any chance of elopement, Colonel Neblett notified county clerks in Nevada and Arizona to demand proof of De Onate s claims of Spanish lineage should they apply for a license to marry. The lawyer said he was confident they would attempt an elopement. Tomorrow, the couple is legally free to apply for a license at Riverside, Cal. Their notice of intention to marry expires then, but it w T as questionable that they would return even though, the actor insists he has documentary proof he was born of Spanish parents in Manila. California law and also that of Nevada and Arizona, prohibits Caucasians and Malayans from intermarrying. That the granddaughter of the late president Woodrow Wilson is determined to marry Onate appeared certain. Both claimed to have the support of Miss McAdoo's mother, Mrs. Eleanor Wilson McAdoo, the senator’s divorced wife. Mrs. McAdoo declined to discuss the romance beyond stating the marriage was "indefinitely postponed.”

CITY MAN STRUCK BY TROLLEY, DIES County's Traffic Toll Is Boosted to 105. Frank O. Jacobs. 68. of 222 East Wabash street, became Marion county’s 105th traffic victim for 1934 when he died late last night of injuries received when he was struck by a trackless trolley

105

at Liberty street and Massachusetts avenue earlier in the night. Mr. Jacobs was crossing Massachusetts ave-

nue when he was struck by a southbound trolley operated by Esti’J Morris. 30, of 846 College avenue. The body was taken to the city morgue. John Fields. 3. of 622 Coffey street, suffered injuries on the head and body yesterday afternoon when he ran into the street from behind a parked car and was struck by an auto driven by Pete Brumit. 22. of 1803 Miller street. The child was sent to city hospital. EDISON ASSOCIATI DIES Considered Outstanding Inventor in Transportation. Kv l nited Pres* NEW YORK. Oct. 25. —Frank Julian Sprague. 77, an associate of the late Thomas Edison and considered the outstanding inventive genius in the electrical transportation field, died at his home today of pneumonia. He had been ill a week.

Hauptmann Identified by Jafsie After Jail Visit Lindbergh Ransom Intermediary Questions Suspect in Cell: Decides He's Mysterious John. By United Press FLEMINGTON. N. J.. Oct. 25.—Dr. John F. (Jafsie) Condon has become convinced that Bruno R. Hauptmann is the mysterious “John” to whom he passed the $50,000 Lindbergh ransom, the United Press was*

informed by a reliable source. The decision came dramatically, at the conclusion of a surprise visit, paid by Dr. Condon to the cell of the murder suspect yesterday. For an hour and ten minutes, the elderly lecturer spoke to Hauptmann along the lines of his conversation with the ransom negotiator in 3t. Raymond's cemetery more than two years ago. When he left he was convinced for the first time that the German carpenter and John" were the same person. Dr. Condon planned his visit carefully. As Hauptmann came back to the prison from the courthouse where he had pleaded not guilty to the murder indictment, he was confronted by the Lindbergh inter--1 mediary. Deliberately. Dr. Condon restricted the interview to words and phrases indelibly etched on his mind from the day of the kidnap negotiations with "John." Over and over he repeated key sentences until he was satisfied. Before leaving the jail. Dr. Condon exacted from Attorney-General David T. Wilentz of New Jersey a promise not to reveal for several days what had transpired in the

V jpp||ra|| '■ /, ■ ; T- ', •; > • i mm $ : >&•<• ■ <

Ellcn Wilson McAdoo

$50,000 CASH BANDITS' LOOT $13,000 in Jewelry Also Taken: Marshal Kidnaped. By United Press MICHIGAN CITY. Ind.. Oct. 25. Kidnapping the town marshal of Long Beach, eight miles north of here, for use as a decoy, five masked bandits stole $50,000 in cash and $13,000 in jewelry from the home of Thomas E. Maloy last night. Mrs. Maloy was slugged by one of the bandits when she failed to comply immediately to demands that she reveal hiding place of the money. She and her cousin, Mrs. Effie Cacoigne, only persons in the house at the time of the robbery, were left bound and gagged with the Marshall R. R. Rairden, in the basement. Maloy. president of the Chicago Motion Picture Operators’ Union, is in Canada on a hunting trip. The bandits accosted Rairden as he sat in a police patrol car on Lake Shore drive and asked directions to U. S- highway 12. As he responded j the men surrounded his car and j one of them dragged him to the ground. Rairden was slugged and his pistol and a shotgun were taken. Both 1 the bandit car and the marshal’s car were driven to the Maloy home. When Mrs. Cascoign opened the kitchen door in answer to Rairden’s knock, one of the bandits stepped inside. He forced Mrs. Maloy to give him keys with w'hich he admitted his confederates. After slugging Mrs. Maloy, the bandits herded their captives into the basement where they were tied with copper wire and gagged with : adhesive tape. The entire house was ransacked. Mrs. Maloy said she never had (seen the bandits before but that one of them called her by her first name. Henr!y Temnein v.es 6a. m 57 10 a. m 58 7 a. m 58 11 a. m 59 8 a. m 59 12 (noon).. 61 9 a. m 59 1 p. m 61 Sunrise ! sunset. p. m.

! cell. Had “Jafsie” been unable to identify Hauptmann there would have been no pledge of secrecy.

Administration’s Silence on Future Plans Retards United States’ Recovery, Declares Ogden L. Mills

The United States isn't coming Mr. Mills declined to discuss Presi-

back as fast as it should from the depression because the Roosevelt administration is keeping the people in the dark as to its plans. This was the message which Ogden L. Mills, pleasant, aristocratic, urbane heckler of the New’ Deal and former secretary of the treasury, brought to Indianapolis when he arrived this noon to speak at a Chamber of Commerce meeting in the Murat theater tonight. "The government shouldn't keep the people in the dark," Mr. Mills insisted. "Because of this policy, the men who usually take the initiative are standing by, waiting to find out what is going to happen before they start doing things.”

INDIANAPOLIS, THURSDAY, OCTOBER 25, 1934

CASH BONUS IS DEMANDED AT LEGIONPARLEY Delegates by Overwhelming Majority Ask Congress for Payment. VOTE IS 987 TO 183 Convention Cheers Decision; Motion Supported as Recovery Aid. Hi / United Press MIAMI, Fla., Oct. 25.—The American Legion today voted to request the seventy-fourth congress to pay the soldiers’ bonus immediately. Action came at the sixteenth national convention on a resolution presented by the legislative committee. The resolution passed by the overwhelming vote of 987 affirmative ballots to 183 against. The vote was taken during a tumult in which advocates of immediate bonus payment booed delegations which refused to side with them on the controversial issue. The vote was announced after clamoring delegates ha dforced National Commander Edward E. Hayes to order a roll call. He had already declared the resolution passed by a vive voce vote. Debate was comparatively short on this issue, which may force the government to distribute almost $3,000,000,000 among veterans of the World w'ar. The Legion also demanded elimination of all interest accrued and refund of interest already paid on previous payments on adjusted service certificates, not due until 1945.

Termed Recovery Aid The resolution, makes its request upon congress on grounds that it is in line with current governmental policy of spending vast sums of money to aid business recovery. Cheers echoed through the convention hall as bonus payment advocates heard state after state and its quota of delegates to the “aye" column that totalled up to such impressive figures. Overseas caps of he veterans, joined in conevntion in an annual reminder of World war services, flew into the air in approval of the vote. Loud boos roarer out when the delegatfons that remained steadfast with the legion’s previous positionrefusal to demand bonus payment —cast their “nay" votes. New Mexico's delegation received a similar set of derisive shouts when it refused to cast its ballot at all. In demanding immediate payment the legionnaires -went counter to what was regarded here as the wish of President Roosevelt. The President has opposed payment of the bonus, indirectly, on grounds that it would unbalance the nation's financial structure. Committee Report Cheered Raymond J. Kelly, chairman of the legion's important legislative committee, placed the bonus question before the convention. Delegates cheered wildly when he began reading his committee's report recommending immediate payment. Then National Commander Hayes admitted all legionnaires there was room for in the convention hall and threw the bonus question open to debate Mr. Hayes disregarded the shouts of “question—question ’ that arose from the assembly. He recognized a number of speakers before the final vote was taken. Among them was Congressman Wright Patman of Texas, long a bonus payment advocate. “A better resolution could not have been written,” he declared. “We are not making an unreasonable request. Payment of the bonus would not hinder national recovery. but would aid it. New York Leads Opposition New- York offered the chief opposition. The New York delegation is on record against immediate payment. The state commander, John Dwight Sullivan of New' York, said. He demanded that disabled men be given adequate relief before “able bodied men.” “We have cited a lot of reasons why we should have money, but we haven’t justified one of them,” declared Mr. Sullivan. With its overwhelming bonus vote, the legion neared the close of its colorful annual convention. It already had adopted the reso- | lution urging the universal draft ! "to take the profit out of war.” The chief decision remaining was j the election of anew national commander. This position. Legion leaders forecast, will go to Frank Belgrano, San Francisco banker, wmo ! came here with a large pledged delegation.

dent Roosevelt's speech to the American Bankers' Association last night, explaining that he had not yet had time to study the President's address. “All reports which I have ndtv indicate that he will be beaten,” Mr. Mills said of Upton Sinclair and his remarkable California gubernatorial race. Asked on what he based this, Mr. Mills replied: "Well. I know what I would do if the Republicans nominated Sinclair —l'd vote Democratic.” "I don't know a thing about Indiana except from reports." he said when the conversation shifted to the local scene, "but

NEW BANK CHIEF

j

At the helm of the American Bankers’ Association for the next year will be Rudolf S. Hecht, New Orleans banker, pictured here at the association’s annual convention in Washington, where he was elevated to the association's presidency.

FOUR HORSES DIE IN BLAZE Fire Destroys Fairground Barn; City Man in Hospital. One man was in city hospital, another was nursing slight burns and a large barn on the Indiana state fairground was a smoldering ruin today as the result of a fire which blazed spectacularly late last night to bring to four harness horses valued at approximately $2,500 and destruction to several hundred dollars worth of equipment and feed. The horses were in the stable of Septer F. <Sept) Palin, 5450 Washington boulevard, noted trainer of pacers and trotters. Fourteen other harness horses were led to safety. Some of these were the property of E. J. Baker, St. Charles. 111. The man in city hospital, Charles Campbell, 36, was a hero of the fire. Sleeping in the stable, he was awakened by a companion, Andrew Smiley, who had been aroused by the smoke. The two stablemen then led the terrorized horses through the flames, which had gained considerable headway. Campbell continued his work until he was overcome by smoke. Mr. Smiley, who had aided him in bandaging the horses’ eyes and leading them through the fire, was burned slightly. As Campbell and Smiley led the horses from the barn, they handed the horses’ bridles to persons attracted to the scene by the flames and noise. One such standerby. in his anxiety to get closer to the fire, dropped the bridle of a horse he was bolding and the panic-stricken animal dashed through the fields and out into Thirty-eighth street. It was almost an hour, in the excitement that prevailed, before he was captured, in the meantime, he had pounded desperately back and forth in a two or three-block shuttle along Thirty-eighth street like some riderless charger in a polo game. The first alarm was turned in at 11:26 and the second fifteen minutes later. The origin of the blaze could not be determined, but there were no hints of incendiarism. It was under control an hour after firemen first reached the barn, an old structure in the northeastern part of the fairground.

TEN DAYS REMAIN TO PAY COUNTY TAXES Final Payments Must Be Made on Nov. 5, Warns Wright. Warning that Marion county residents have but ten days in which to pay taxes was given today by Fay Wright, deputy county treasurer. Delinquencies begin after the final payment day, Nov. 5. Taxpayers are being accommodated with the treasurer's office kept open this Saturday and Nov. 3 in the afternoons to accept payments. DAUGHTER IS BOrFtO MRS. NORMAN ISAACS Wife of Times News Editor Is Mother of Girl Baby. A girl baby weighing seven pounds, eleven ounces, was born early today in Methodist hospital to Mr. and Mrs. Norman E. Isaacs, 5346 Park avenue. Mr. Isaacs is news editor of The Indianapolis Times and has been an active newspaper man in this city several years.

that there is a decided swing to the Republican party. I'm looking for a Republican victory in Indiana!” The man who was President Hoover's secretary of treasury had nothing to say at all about Senator Arthur R. <Lil Arthur) Robinson when the latter's name was introduced into me conversation, however. Mr. Mills, who has been mentioned as a passbile Republican candidate for the presidency in 1936, appeared in excellent health. Dressed in a pepper and salt suit, and apparently not overly tired after the lengffhy trip from New York, Mr. Mills seemed the typical Knickerbocker blueblood he has been painted.

ROOSEVELT WINS PLEDGE OF BANKERS TO JOIN IN NEW PROSPERITY DRIVE

FUNDLEWEIIS REAOYTOOPEN ME DM Campaign to Open in City Tomorrow: Gift Captains Named. Final plans were being completed today for the opening tomorrow of the fifteenth annual Indianapolis Community Fund campaign, which has as its goal the raising of $727,217 for welfare work. The opening meeting will be held at 6:15 tomorrow night in the Riley room of the ClaypooJ Three thousand volunteer workers have enlisted for the drive which is scheduled to close Nov. 7. Arthur V. Brown, banker, is general chairman. The following have been named captains for the individual gifts division ; District No. I—Paul Kernel, J. A. Brockman. William Engler. E. Vernon Grindle. Louis G. Carey, W. H. Clinard, George M. Dickson. W. W. Miller. John Lau. William H. Bradley, Albert E. Lamb and C. R. Keogh. District No. 2—R. M. Pennington, Peny Oakes, Harry W. Nichols. Henry Reinke, Henry J. Langsenkamp Jr., John Burkhart, Fred Lahr. Glen Beall. W. G. Masters, Paul M. Cook. Adam R. Heck and Miss Gertrude Brown. District No. 3—Arthur R. Madison, C. D. Vawter, Ben Roberts, Arthur Hupp, Herman Emde, John Barney, Louis R. Thomas. Dr. Bernard Hyman, Charles T. Tevebaugh and B. A1 Schnell. District No. 4—Marcus Warrender. S. B. Van Arsdale, Herman Lauter, Boyd Brwon, Oscar Jose Jr., George A. Van Dyke Jr., Guy Morrison, Clifford G. Dunphy, Stedman Pearce. Charles B. Tichenor, Ted Campbell and Mrs. George C. Bender. District No. s—Laurens L. Henderson. Colonel Paul E. Tombaugh, J. R. Townsend. Horace Storer, Eber Spence, Howard Gay, Fisk Landers, Vance Smith, John Rocap. Vincent Ryde, Fred Conkle. Reily Adams, Vernon G. Roth, Warren Dills and George Bailey. District No. 6—Karl C. Wolfe, Earle W. Kiger. Earle W. Kiger Jr., C. H. Domhoff, Paul D. Loser, L. M. vollrath. E. J. Beckett. Carter W. Eltzroth, R. A. Barnard, Herbert C. Tyson and Roy O. Johnson. District No. 7—Lloyd S. Wright, Ray DeVaney, J. F. Frisinger, Ross M. Halgren. Walter B. McClure, Seymour Stewart, W. B. Brass Jr., E. R. Grisell. Murray H. Morris and John Hughes. District No. B—Frank B. Tufts. Henry E. Gibson, Glenn Findley, Oswald Tislow, Peter Van Fleet, Frank Turrell. the Rev. H. L. Herod. Dallas Smith, William S. Grubbs, the Rev. C. G. Baker and Mrs. Ben Sagalowsky. District No. 9—Frank T. Sisson, Marcus Borinstein, Sam W. Simpson. Hilbert E. Rust, Robert Finfrock, Franklin L. Inman, John Scott, George Pattison, Hal G. Aspy, F. D. Brosnan, Robert Blakeman, Wendell Barrett, William Florea, Dan Grubbs and William Schloss. District No. 10—Jack Fodfrey, Claude Bitsenberger. W. O. Feudner, Fred Hunt, O. F. McCain, Francis Polen. Irvin M. Ferrel. Howard Bates, Joe Sexton and Richard S. Tennant.

Streamline Train Sets Transcontinental Mark Engineer Faints After Making Los Angeles-New York Run in Two Days, 8 Hours and 55 Minutes. By United Press NEW YORK. Oct. 25.—The bullet-shaped M-10001, fastest tram ever to cross the United States, rolled into Grand Central station today with a new record of 2 days, 8 hours and 55 minutes from Los Angeles to the

heart of Manhattan. A crowd of about 1,000 persons, headed by Mayor F. H. LaGuardia. greeted the train. An electric engine, attached at Mott Haven station in New York i city, propelled the new stream-

Mr. Mills was met at the union station by Louis J. Borinstein, chamber president: Felix M. McWhirter, United States Chamber of Commerce vice-president, and Will G. Irwin, Columbus, United States chamber director. He went almost immediately to a luncheon at the Columbia Club. At 5:45 tonight he will be honored with a reception in the Columbia Club. A dinner and an informal talk by Mr. Mills will follow the reception. Twenty Indiana' cities will send delegations to attend the Murat meeting which opens at 8 p. m. "Recovery or Bust" will be Mr. Mills' topic. Admission will be by ticket only. v,

Entered as Secotirt-Class Maiit-r at Postoffice. Indianapolis. Ind.

Action Follows President's Call for 'Alliance of All Forces Intent Upon Business of Recovery/ FINANCIERS ASK BALANCED BUDGET, Emergency Activities Will Be Ended When Private Business Can Pick Up Load, Chief Executive Promises. />‘y United Press WASHINGTON, Oct. 25.—The American Bankers Association pledged its co-operation with President Roosevelt’s recovery efforts today in a significant gesture of response to the President’s reassuring address calling for shoulder-to-shoulder action. Recommendations of the resolutions committee calling for continued co-operation with the administration and urging early balancing of the budget were adopted unanimously in a conciliatory spirit in sharp contrast to the anti-New Deal sentiment prevalent at last year’s oenvention.

EDITOR'S ADVICE givenbankers Talcott Powell’s Counsel to ‘Cultivate Reporters’ Is Recalled. H t/ Times Special WASHINGTON. Oct. 25.—Advice of Talcott Powell, editor of The Indianapolis Times, for bankers to “cultivate reporters” if they would have better press relations, wag incorporated in the report of the education committee and presented to the American Bankers Association yesterday. The report, covering all phases of banks and public relationship, was presented to the A. B- A. state secretaries’, section by Secretary Don E. Warrick, of the Indiana Bankers’ Association. “The subject of newspaper relationship is regarded as quite important,” the report set out, “practically all of the states report a very favorable understanding between bankers and newspapers. However, it is pointed out that one important editor calls attention to the fact the bankers have courted the editor, whereas the reporter in most cases is the editor’s contact with the community world where he resides and, therefore, the banker has lost much advantageous working ground when he takes a little short cut to the editor.” This advice was given the investment section of the A. B. A. by Mr. Powell at a recent meeting in Buffalo, N. Y. “My own experience has shown that the newspapers, from top to bottom of their editorial and business staffs, are anxious to help in the emergencies we have been passing through,” Mr. Warrick reported. “They have exhibited a friendly and sympathetic attitude toward the many confusing problems which we all have faced in this depression.” Bank Distribution Set BLUFFTON. Ind., Oct. 25.—Distribution of $19,000, representing a 25 per cent, dividend, to depositors in the closed Liberty Center State Bank, w'as announced today by Glenn E. Smith, special representative of the state departmept of financial institutions. 4

lined speedster into Grand Central station because of station regulations. The powerful Deisel engines which had sent the M-10001 across the continent at an average of close to fifty-seven miles an hour were silenced on the last twenty minutes of the journey through New York city. H. D. Robertson, engineer, collapsed in a faint a few minutes after he had brought the speed train into New York. Robertson, who drove the huge Diesel engines throughout the 56hour 55 minutes run from California, had received the congratulations of Carl R. Gray, president of the road. The engineer later said he "loafed along” from Chicago to New York. His official running time between the two cities was 17 hours and 25 minutes—only twenty minutes faster than the time ordinarily made by the Twentieth Century Limited. The astest recorded speed was 120 miles an hour, and the slowest on any stretch was in the Rock mountains, where the train slowed down to about fifty miles an h'dr.

HOME EDITION PRICE TWO CENTS Outside Marion County, 3 Cent*

The stand of the 4,000 delegates cleared ihe way for a co-operative drive for recovery along the lines suggested by the President in his address last night. “The time is ripe for an alliance of all forces,” he said. The association went, on record as recognizing the temporary need of large emergency expenditures, and as viewing President Roosevelt as “an understanding statesman” for “setting a time schedule for expenditures to be made for relief and recovery.” Balancing of the budget, the approved report said “would eliminate fears of currency inflation.” The bankers, at the same time held that stability of the monetary system is “fundamental" if business is to improve. An indirect slap was taken at suggestions for creation of a central bank—one of the reports worrying bankers when the association recorded itself as having complete “faith in the present banking structure.” Industry Asked to Help Industry and trade were called on to avail themselves of credit facilities by the association. Max B. Nahm. chairman of the resolutions committee, read the report before a large audience in the national theater and it was approved without further discussion. Scattered applause greeted Mr. Nahm's remarks regarding the balanced budget and again when he said banks were co-operating to provide legitimate credit for industry, commerce and agriculture. Rudolph S. Hccht, New Orleans banker, who assumed the new presidency of the ABA, told the delegates that he was optimistic concerning the economic future and assured the administration of bankers efforts to co-operate. In adjourning the convention until next year when it meets in New Orleans, he said: “I am certain that we have passed the worst of the storm. However, there can be no doubt that the time calls for courage and co-operation of every part of our population; and let it never be truly said that the banking fraternity is not doing its full share.” The President's statement last night that “it is not in the spirit of partisans, but partners, that America has progressed" set the tone of the immediate reaction which was expected to extend to the practical working relations of banks with the government. His words that the administration stood squarely back of continuance of the profit system and that emergency activities would be curtailed as fast as private business could pick up the load received closest attention. The principle omission in the address as seen by bankers was its failure to comment on the proposed central bank and several other features of monetary policy. The friendly tone of the address was contrasted by his hearers with critical remarks which had in the past been used in speaking of banks and bankers generally. Law Is Enthusiastic Ch:_. spokesman of the bankers. President Francis M. Law’ of the association, expressed enthusiasm over the address. “There can and should be worked out a sound program of far reaching co-operation between the governmen*. tv b-mk* and other groups mentioned by the President,” said Law. “the kind of a program that would be a real contribution to the cause of recovery.” He called attention to the attitude of Jackson Reynolds, president of the First National Bank of New (Turn to Page Three) Times Index Page Bridge 17 Broun 13 Comics 23 Crossword Puzzle 10 Curious World 23 Editorial 14 Financial 18 Hickman—Theaters 15 Pegler 13 Radio 19 Sports 20-21 State News 5 Woman s Pages 16-11