Indianapolis Times, Volume 46, Number 234, Indianapolis, Marion County, 8 February 1935 — Page 8

PAGE 8

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THE INDIANAPOLIS TIMES

BILL TO SMASH HOLDING FIRMS ISFIRSTWEDGE Proposal Is Envisaged As Opening of Assault on Concentrated Wealth. BY THOMAS L. STOKES Time* Social Writer WASHINGTON, Feb. B.—The Administration’s bill to break up and then dissolve giant utility holding companies was envisaged today as I the major assault on concentrated j wealth and power toward which the ; President has been slowly moving. For, it was learned, this measure Is to be followed later by one which j would eliminate from all other fields the holding company device, by which a few men, often on a shoestring, are able to control vast capital and wield great political influence. President Roosevelt thus carries on the campaign aimed by the other Roosevelt at trust busting, but which proved ineffectual since the | masters of wealth capitalized the ! apathy of the public and contrived ways to evade the law. If the President has his way. the era of bigness will be over and the economic pattern of the country will resolve into a series of smaller designs—the objective being not only greater efficiency, but also a simpler economic unit which can be controlled. Much meaning lies behind a phrase in the elaborate bill which speaks of “a geograhpically and economically integrated public utility system.” Great Systems to Split This means that in the next five years, when the public utility holding company is to he dissolved by fiat, the great systems which span the country are gradually to be I broken up into smaller units each serving only that territory which it is economically fitted to serve. This breaking up process, which is to be directed by the Federal Pow- | er Commission, also has its practical j aspects. It will be necessary to break up the holding company set- | ups in order to dissolve them within five years. They will have to be taken apart and simplified so that they can be eliminated, as a practical matter. Asa result, the power cmnmisslon will exert constant pressure. It is directed to make studies and recommend simplification of both the holding company and operating units, now so vast and so interconnected. Lower Rates Likely Completion of the process in five years, under bill, would find small, operating units serving limited territories. Just how small or large they will be, how many states they might serve, can not be ascertained until the setup is analyzed. There will be no uniform size in the end. Size will depend on economic justification. The bill also imposes, through the power commission and the Securities and Exchange Commission, regulation which will protect the investor and will tend to reduce rates. The fees and charges by which holding companies have drained profits from operating companies are banned. Nothing apparently was overlooked in the 60-page measure upon which Rep. Sam Rayburn (D., Tex.), chairman of the House Interstate Commerce Committee, soon will begin hearings. Mr. Rayburn, in a statement, emphasized its objective of breaking up concentration of wealth and power, as did Senator Burton K. Wheeler (D , Mont.), chairman of the Senate Interstate Commerce Committee, who introduced an identical bill. Small Group Controls Billions “The holding device has been pyramided to give a few small but powerful groups control of the billions of dollars of the public’s money Invested in the utility industry,” Mr. Rayburn said. “Such intensification of economic power beyond the point of proved economies not only is susceptible of : grave abuse but is a form of private socialism inimical to the functioning of democratic institutions and the welfare of a free people.” Concentration of economic power, Senator Wheeler declared, “Is growing today faster than it has ever grown before. “Many believe we can not reverse that trend. I think we can—if we think clearly and let our minds be bold. I think we must—if we are to avoid Fascism or Communism without being sure which of the two we get.” FRESHMAN AWARD WON BY KOKOMO STUDENT Shows Highest General Chemistry Average at Indiana University. By Times Special BLOOMINGTON, Ind., Feb. B. Lowell Henderson, Indiana University freshman from Kokomo, was named here today as winner of the award offered by the Chemical Rubber Company of Cleveland, 0.. to the freshman student at I. U. having the highest general average in beginning chemistry for the first semester. The prize is a deluxe copy of the 19th edition of the “Handbook of Chemistry and Physics.” In announcing Henderson as the winner. Dr. R. E. Lyons Sr., head of the I. U. chemistry department, said that he made 497 out of a possible 500 points in the examinations covering the five-hour beginning chemistry course. GROTTO WILL HEAR PROBATION DIRECTOR The Rev. Francis McCabe to Speak at Luncheon Today. The Rev. Francis McCabe, state probation director, was to speak on “The Workings of the State Probation Department” at the weekly luncheon of the Sahara Grotto today at the Grotto Club. Park-av and 13th-st. William Hoefgen, club president, will preside. GROUP TO HEAR STUMP City Medical. Dental Societies to Give Dinner. A Joint dinner will be held by Indianapolis Medical and Dental Socities at 6:30 Monday in the Columbia Club. Albert Stump, local attorney and former Democratic senatorial candidate, and James E. Robinson, Chicago, will speak.

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In the Book Nook

BY WALTER D. HICKMAN A S it was to be expected, the of the hour is Pearl S. Buck's “A House Divided,” which completes the story of Wang, the farmer of old China, which was started in “The Good Earth” and continued in “Sons.” Mrs. Buck in her three books has developed the three most vigorous types in the history of China. These types are the farmer, the war lord, and the presentday well-educated Chinese youth. in the last book of the trilogy, Wang Yuan, son of Wang the Tiger, emerges as a modern Chinese youth who sees the old China wiped cruelly out of existence during the revolutions. Yuan is both a striking and a pathetic figure, swayed by the strict teachings of Old China, his father, the Tiger, and by the preachings of young revolutionists. Pearl Buck does not make Yuan a hero, but she has made him real and human. Therein lies the strength and much of the merit of this lengthly story. To me, “A Divided” is as great a Juerarr masterpiece as her first otic, ' The Good Earth.” It makes no difference that her chief characters are aliens, but their characteristics seem to apply to all races during the changes all over the world in the past 50 years. tt FARM and home life, as well as governments, have changed not only in China, but all over the world and the situations which Yuan faces are the same as other people face all over the world. Mrs. Buck is able to look at all changes in government, business, home and social life on all sides of the question as arguments for both sides confront Yuan in his battle to establish himself in the new order of China. Mrs. Buck' has captured masterfully the strange and fine old customs of China which have made home life there different from any other place in the world. She has successfully pictured modern Chinese students at a great university. The reader gets the impression that when Yuan escapes from China to go to a great “foreign” university, that this institution is somew'here in or near New York city. The customs of Old China keep Yuan morally clean through the entire story while other youths of his own race yield. Mrs. Buck studies revolution in its many phases and here is an opportunity to study the way revolution or revolutions were hatched among Chinese students. Human nature seems to be the same all over the world because even revolutionary leaders when

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in power seem to think more of the money than the needs of downtrodden people in whose name revolutions are staged. Here is a magnificent novel and is as great as its Pulitzer prize winning cousin, “The Good Earth.” “A House Divided” is published by Reyna 1 and Hitchcock as a John Day book and sells for $2.50. DEMOCRATS IN HOUSE DEMAND MORE JOBS Disgruntled Congressmen to Probe Patronage Situation. By United Press WASHINGTON. Feb. B.—The Administration stood firm today against the clamor of disgruntled Congressmen for additional patronage. House leaders, after a caucus to consider patronage, reiterated President Roosevlet’s stand that qualified Republicans would continue to get jobs when opposed by less able Democrats. Congressmen who have led the fight for more jobs for their consitutents were referred to by the President as “sore-heads.” Net result of the caucus was the appointment of a committee of seven members to investigate the patronage situation. MANY DIE AS STORMS SWEEP EUROPE, ASIA Blizzards and Floods Spread Influenza Throughout Countries. By United Press GENEVA, Feb. B—Blizzards, avalanches, fierce winds, torrential rains and bitter cold that sent howling wolves Into isolated villages were reported over Europe and Asia today. Grippe and influenza were prevalent in Poland, Rumania, Spain and France. Fifteen persons have been killed in recent days in Switzerland by avalanches. Some main line railways were blocked. Floods were reported from Munich, Germany, and Quetta, India. RAPER COMMANDERY TO SPONSOR MUSICALE Dinner Dance Also to Be Given Tomorrow Night. A dinner dance and musicale will be presented at the Masonic Temple, North and Illinois-sts, tomorrow night at 7 by the Raper commandery. No. 1, Knights Templar. The guest soloist will be Miss Helen Louise Titus, who will be assisted by other members of Kappa chapter of Mu Phi Epsilon, national musical henory sorority. Granville A. Richey, commander, will be in charge.

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PENNSYLVANIAN NAMED TO HIGH RECOVERY POST Thomas C. Blaisdell Heads Consumer Activities; Leaves AAA. BY HERBERT I.ITTLE Times Special Writer WASHINGTON, Feb. B—Concentration of consumer protection and organization activities of the government under a young and thoughtful red head, Thomas Charles Blaisdell of Pennsylvania, has been announced. Mr. Blaisdell’s promotion to head consumer activities of the National Emergency Council removes another stalwart from the AAA consumers’ organization headed by Frederick Howe and just disrupted by reorganization. Mr. Blaisdell, who has been f orlc “ ing nearly two years under Dr. Howe, probably will be named as a member of the emergency council, or super-cabinet, of which Donald R. Richberg is director. This NEC place has been vacant since the death of Mary C. Rumscy. The NEC organization will have charge of all direct field work among consumers, and consumer contacts with the New Deal. The AAA and NRA consumer boards which have been doing some of this work, both will continue §s advisory boards aiding in code drafting and administration. Stripped of Leaders Mr. Blaisdell has been acting head of the NRA consumers’ advisory board as well as active in the AAA work. He has been a close friend and co-worker with Gardner Jackson, whose resignation from the AAA was asked in the shakeup, with Dr. Howe, who is to be transferred to a “special assignment” in the AAA if he wants it, and others of the ousted liberal faction. The reorganization and hoped-for strengthening of the consumer protection agencies has been under discussion since before the death of Mrs. Rumsey nearly two months ago. Her appointment by President Roosevelt to the “super-cabinet” was the highest recognition of this interest given by the government. Mr. Blaisdell’s departure, however, leaves the NRA and AAA agencies stripped of leaders. The NRA agency lost its executive director, Dexter Keezer, who resigned to take a college presidency, and then Mrs. Rumsey. Seek Successor for Dr. Howe Henry A. Wallace, Secretary of Agriculture, and AAA Administrator Chester Davis are busy looking for a successor to Dr. Howe, who will work in harmony with the “get things done” id ,s as of Mr. Davis. No candidates for the job are known, Mr. Wallace announced the “Consumers Guide,” a publication instituted by Dr. Howe to inform housekeepers of food prices and other developments affecting them, will be continued. He pointed out that the law requires the consumer work to be continued by the AAA. But it is expected that the “Guide's’* warnings against too-high “margins” or profits by middlemen will be toned down considerably. Administrator Davis was frank in saying that the consumer trouble in AAA was largely “too much advance publicity.” He thinks it should be more statistical, less crusading, and intends to nave it that way. Rabbi Feuerlicht to Speak Rabbi Morris M. Feuerlicht will speak on “The Child and the State” at 8 tonight before the Indianapolis Hebrew Congregation.

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