Indianapolis Times, Volume 46, Number 233, Indianapolis, Marion County, 7 February 1935 — Page 4

PAGE 4

VOTING REFORM URGED BY U. S. IRKS EXCHANGE Congressional Action May Be Necessary to Break Clique’s Control. BY THOMAS L. STOKES Tin.* spKltl Writer WASHINGTON. Feb. 7 —The New York S'nek Exchange has manifested reluctance toward reforms in lt~ elw,.on methods recommended by the Securities and Exchange Commission which are designed to end rile of its affairs by i •mall, ■K.-f-perpefuating clique. It was learned today. Congressional leaders who put through the stork market reform bill are aware of the apithetie. if not actually hostile. attitude of exchange officials and are expected to call the situation to the attention of Congress in a day or two. Though the commission tecommended several changes in Stock Exchange election procedure in a report to Congress two weeks ago. nothing has been done by the exchange to comply with these suggestions. Exchange officials have resisted the proposed reforms in one way or another. The commission did not recommend legislation. It left these reforms to voluntary action by the exchanges, but it intimated that it would press for legislation later if the exchanges fail to act. Morgan Control Target Sponsors of s* larket reform. In Congress and sc particularly concerned because of the dominant influence exercised on the New York Exchange by J. P. Morgan A* Cos., through President Richard Whitney and the small group which controls the election machinery. George Whitney, the exchange head's brother. is a J. P. Morgan partner. The Whitney clique continues to dominate by its control of the nominating committee. This group of five men, which nominate: its successors, nominates the president, other officers, and the all-important board of governors of 40 members. The board of governors, in turn, nominates the standing committees which handle affairs of the exchange, most Important of which are the law committee, which deals with changes in the constitution, by-laws and all other matters of law affecting the exchanbe, and the business conduct committee, which has jurisdiction over business conduct and financial condition of members and their customers' accounts. It is also charged with detecting improper practices. Whitney Group in Control An analysis of the personnel of these committees reveals an inter- i locking directorate of the Whitney j group, with its members holding the I key positions and serving on two or three of the committees. While there is now. nominally, the j right of nomination by petition, the Securities Commission in its investigation discovered this was ineffective “because petition connotes open revolt. and subtle forms of pressure

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LABOR FIRM AGAINST AUTO CODE

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Labor will never recognize, accept, or yield to the auto code in it* renewed form, William Green. A. F. of L. chief, told the Senate Labor Committee. In the group shown here at the current hearing are Green, center, with John L. Lewis, left, mine workers’ head, and Senator M. M. Neely, Weft Virginia, committee chairman.

make its use in practice infrequent.” The “regular” slate from president down always goes through. In its report to Congress, the commission recommended abolition of the nominating committee, with nominations left to petition and election by the whole membership of the exchange. It suggested that a primary be held for the choice of president to democratize the election. It also suggested that it might be a good idea to make outsiders, not members of the exchange, eligible for this office. The commission also urged that outsiders be made eligible for the board of governors. ILLINOIS PROFESSOR TO LECTURE AT I. U. Ilillel Foundation Director to Speak at Convention. By United Prr BLOOMINGTON, Ind., Feb. 7. Dr. A. L. Sachar, professor of history at the University of Illinois and speaker on historical and religious questions, will be the Indiana University convocation speaker Wednesr by Comes) Unit/ Turn ti montk* of waitisf I into cih and comfort -vrOU can now avoid / I unnecessary Pain and P* x after regrets by pre- [ . paring your ho ly for •fc-y fIWW that dear baby's comirtg. A massage medium and skin lubricant, called Mother’s Friend, helps to relieve and prevent skin tightness . . . abdominal tissue breaks . . . dry skin . . . caked breasts . . . after delivery wrinkles. Mother s Friend refreshes and tones the skin, tissues and muscles. It makes them supple, pliant and elastic. It is scientific in composition—composed of especial oils and highly beneficial Ingredients— externally applied— pure and safe. Quickly absorbed. Delightful to use. Highly praised by users, many doctors and nurses. Time-tested for over 60 yea-s. Millions of bottles sold. Trv it tonight. Just ask any druggist for Mother's Friend. The Bradfleld Cos., Atlanta, Ga. Mother’s Frieisd —lessens the pel*

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day, Feb. 13, was announced here today. Dr. Sachar also is director of Hillel Foundation, and Is the author of “A History of the Jews.”

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THE INDIANAPOLIS TIMES

NAB 1200 REDS IN FRENCH PLOT TO FIREPALACE Paris Police Strike Fast as Conspirators Begin Riot March. (Copyright. 1935. by United Press) PARIS, Feb. 7.—Police believed today that by a perfectly timed counter offensive they had prevented a Communist march on the presidential palace and its possible burning. Warned that Communists, mobilized at hundreds of cells in the “red ring” of working class suburbs, were moving on the center of the city last night, police arrested 1200 men. They asserted that most of those arrested carried knives, revolvers or blackjacks and that some had wads of cotton soaked in gasoline. Communist arrested admitted, police said, that their objective was the historic Elysee Palace of Presi-

dent Albert Lebrun. Because of the oil soaked rage police said they believed the invaders might have tried to burn the palace if their forces had not be broken up. The Red mobilization, planned from the Place De La Concorde which was the center of the Stavisky riots of Feb. 6, 1934, was accompanied by a separate one of underworld figures who hoped, in the excitement of rioting, to loot as they did on the morning After the Stavisky riots. Because of their vigorous action which sent patrols to all strategic centers to intercept and arrest Communists moving toward the Place De La Coi.corde, police reported all quiet today throughout the country. However, small bands of Communists and thieves roamed the streets all night hoping to attack police. They fired on a police car at the Madeleine station and peppered another out outside the St. Lazare station. No one was hurt. Police learned Communists were preparing to move on the Place De La Concorde, center of the Stavisky riots and that if they did so 250,000 war veterans would turn out to fight them. But the 250,000 veterans, at orders

of their leaders, had assembled In the evening at 8852 designated spots. From St. Denis, Clinchy, Montreuil, Ivry, Stains, Drancy, Pierreflitte, Boulogne and several towns in the adjoining department of Seine-Et-Oise, Communists departed for the center of Paris in busses, taxicabs, street cars and trains. Orders were flashed to outlying police stations and men were sped to stations at the gates of Paris, while the already strong guard at the Place De La concorde was reinforced. Wjthin a few minutes arrests began. Help Kidneys Don’t Take Drastic \)run Your Kidnevs contain 9 million tiny tubes or filter's which mav be andaneered by neglect or drastic, irritating drugs. Be careful If funcional Kidney or Bladder disorders make you suffer from Getting Up Nights. Nervousness. Loss of Pep. Leg Pains Rheumatic Pains, Dizziness. Circles Under Eves. Neuralgia, Acidity. Irritation or Itching, you don't need to take chances. All druggists now have the most modern advanced treatment for these troubles —a Doctor’s prescription called Cystex (Siss-Tex). Works fast—safe and sure In 4? hours it must bring nejy vitality and is guaranteed to make you feel 10 years younger in one week or monev back on return of empty package. Cvstex costs only 3c a dose at druggists and the guarantee protects you.—Advertisement.

Outlines Merit BUI Mayor John W. Kem outlined the bill created by the city administration which would place the fire and

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FEB. 7, 1935

police departments on a merit system. at the Mutual Insurance Association luncheon at the Columbia Club yesterday.