Indianapolis Times, Volume 46, Number 246, Indianapolis, Marion County, 22 February 1935 — Page 8

PAGE 8

INDIANA LEADS IN NUMBER OF FARMER LOANS Hoosiers Borrow More Than Any Other of Four States in District. B i TFprrin | WASHINGTON. Feb 22 - Indian* l*ads he four state* of the Four’h Farm Credit Administration District in the number of loans to farmers* co-operative associations. John F. Brown, president of the Louisville Bank for Co-operatives, reported today. Mr. Brown, J. B. E LaPlante, president of the Louisville Intermediate Credit Bank, and Walter F. Gahm. president of the Louisville Production Credi. Corp.. are here attending a meeting of Federal intermediate credit executives. * “To the close of the week ending Feb. 8. the I-ouisville Bank for Cooperatives had received applications totaling $4,044,396 and made commitments for loans of $2,981,000 to farmers’ co-operatives in Indiana. Ohio. Kentucky and Tennessee,** Mr. Brown said. "Indiana co-operatives led the list and Ohio was second.'* Advance payments for tobacco marketing is now putting large amounts of money into southern Indiana, Kentucky and Tennessee, he declared. The first year of operation by the br nk has far exceeded expectations, be reported. ‘•'•‘he institution opened its books f >r business Feb. 3. 1934.” Mr. Brown explained. "At thet time, officials estimated a loan business of $1,000,000 for the first year. At the close *f business Feb. 8, this year, this preliminary estimate had been practically trebled by commitments made for loans to the various marketing and purchasing associations throughout the district. “Ten per cent of the advances made to co-operatives has been to facilitate loans supplying funds for associations to build or otherwise acquire needeu physical facilities, while 90 per cent have been commodity loans or to supply operating eapital. “The greatest number of commitments has been m■ * for a period of five years, others falling due within a year or les3, and a few running oyer as much as a 10-year period.'* Repayments have been prompt, the record shows. On July 1, 1935. average length of time of outstanding loans was five months and six days and borrowers had repaid 65 per cent of their minimum annual repayments during that time. In other words. 65 per cent of the minimum annual payments have been made within 45 per cent of the time allotted to them. Under the monthly installment payment plan instituted by the bank, only one delinquent borrower was reported and the total delinquency but $165 50. All interest payments bad been made to date. “Our largest number of loans has been made to farmers’ organizations which market gram and purchase farm supplies for members." Mr. Brown concluded. "Dairy marketing associations come next, with a fair showing of co-operative engaged in the marketing of livestock, fruit and vegetables, baby chicks, wool and seeds. Largest commodity loan-> have been made on tobacco.'* SOCIAL DEPARTMENT OF FARM BUREAU TO MEET Fifth Annual Conference of Group Will Be at Claypool. The fifth annual conference of the social and educational departments of the Indiana Farm Bureau Will be held Wednesday and Thursday in the Claypool with Mrs. Lillie D. Scott. Clayton, chairman. In Change. Or thousand farm women from •1* over the state attended last year. Mrs. Scott. Mrs. Raymond McNeal. Russiaville. and Miss Della Hemmer. Huntmgburg. are district leaders. TVA Distributor Shows Profit Bp Vnitfd Press CORINTH. Miss.. Feb 22 —A net profit of 37 68 per cent for the first seven months of operation was shown today by the Alcorn County Association, which distributes TVA "yardstick'’ power on a co-operative basis.

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NAPOLEONIC CHARACTERS DEPICTED BY LE GALUENNE PLAYERS

i j m § ig J x 1 /'I ■**■*%£ Approximately iOO couples are ex- j| i, -j cted to attend the dinner dance I % * arott Monday by Blue Goose, in- M mmmmm, V -<m • “6• / : ** j

BLUE GOOSE IN DINNER DANCE Fire Insurance Organization Expects 100 Couples at Marott Affair. Approximately iOO couples are expected to attend the dinner dance and bridge party to be held in the Marott Monday by Blue Goose, international social organization of fire insurance companies. Hosts and hostesses will include Mr. and Mrs. T. W. Sprickman, South Bend; Mr. and Mrs. E. P. Carson. Mr. and Mrs. Gus J. Dascke. Mr. and Mrs. Don D. Fitzgerald. Mr. and Mrs. O. E. Green, Mr. and Mrs. John H. Hellekson, Mr. and Mrs. E. E. McLaren, Mr. and Mrs. Ross A. Moore, Mr. and Mrs. G. Emerson Newhouse and Mr. and Mrs. John W. Noble. Committee chairmen are H. A. pfister, James A. Bawden, E. M. Seller, "homas R. Dungan, G. L. Heinz. Charles R. Watkins, W. J. E. Webber, E. R. Hubbell, Don G. Kaga and Mrs. D. L. Jones and Mrs. A. W. Schmadeke. Indiana Blue Goose officers include T. W. Sprickman, Thomas R. Dungan, G. L. Heinz. Charles R. Watkins. D. D. Fitzgerald and Irving Williams. PARK BEAUTIES LISTED BY PUPILS AT MANUAL Red Cross Unit Sends Descriptions to Polish Schools. Members of the Junior Red Cross diaper. X Section, at Manual Training High school have been actively working on portfolios to send to Poland to • ;play to pupils there the beauty t the National Parks in this country The proje t is being directed by Betty Stich. Her assistants are Jeanette Rent, Paula Moates and Yuth TMert. Maeaiznes ocher reading matf> r are being accumulated for c*stribu ion to the * atients at the Veterans’ kospital by the Junior Red Cross Students on the committee for this project are Marjorie Howard. cl airman: Mildred Briggs and Margaret Muegge. Editorial Writer Is Dead By Uni'ed Press NEW YORK. Feb. 22. John Lanpdon Heaton. 75. editorial writer cf me New’ York World for 32 years, died yesterday. He was a life member of the advisory board of the Pulitzer School of Journalism. Columbia University.

f *sasal\ AirritationJ j j Relieve the dryne** and'.'! I irritation by applying \\\ i Mentholatwn night \\\ J and morning. \\\

Many characters of whom Napoleon wrote in the love letters which are appearing daily in The Indianapolis Times, appear in “L’Aiglon” which Eva Le Gallier.ne will present at English's next Monday and Tuesday nights. These pictures were especially posed by Miss Le Gallienne and her company while playing in Chicago to illustrate the characters mentioned in the love letters of Napoleon, as well as those in the play. 1. Miss Le Gallienne as “L’Aiglon,” son of Napoleon and Marie

ASHTON GORTON NEW SIGMA DELTA CHI HEAD Kokomo Man Elected President of Butler Chapter, The i?utler University chapter of Sigma Delta Chi, national professional journalism fraternity, today

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THE INDIANAPOLIS TIMES

| Louise, and Marion Evensen as the I Countess Camerata, niece of j Napoleon. 2. Merle Maddern as Marie Louise reading a letter from Napo- ! leon. 3. This picture is known as the family group and shews, standing, Averill Harris as Metternich, who engineered the marriage of the Emperor and Marie Louise; Miss Le Gallienne, as the “Faglet”; Leona Roberts, as the Archduchess; seated, Merle Maddern, as Marie Louise; Sayre Crawley, as Franz, Emperor of Austria.

announced the election of Ashton Gorton, Kokomo, to the presidency of the chapter. William Rohr, Indianapolis, is vice-president. Mr. Gorton was the fall semester editor of the Collegian, campus paper. He is a member of the senior class and is majoring in journalism.

MILK PRICES NO LONGER UNDER AAACONTROL Secretary of Agriculture Asserts Department Is Not interested. BY DANIEL KIDNEY Times Staff Writer WASHINGTON, Feb. 22.—What the consumer must pay for milk is no longer a matter of practical interest to the AAA. according to j new’ policy enunciated by Henry A. Wallace, Secretary of Agriculture. “We are not interested in the price spread between producer and consumer.” Mr. Wallace asserted under questioning at his press conference. “Our interest is getting more money for the farmers.” He explained later that he believed “competition” -would keep retail milk prices down. The spread to the middleman is not as great as in 1920-21, he said. Keeping down the consumer price was part of the program announced last year when the AAA first attempted milk control. But that has been abandoned along with Dr. Frederick Howe as consumers' counsel; Jerome Frank, AAA general counsel, and their assistants in the recent so-called “radical purge” of AAA. Another advocate of consumer

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protection at that time eras Victor A. Christian, Republican ex-Con-gressman from Minnesota, who is the latest AAA executive to resign. He is being urged to reconsider, officials said. “We have no authority for action in the matter of price spreads,” Secretary Wallace asserted. “To do so would be to fix profits, which is beyond the pale in democratic control of national economy. That might do under a dictatorship.” He explained that to obtain accurate information on price spreads it wouid be necessary to go into the ! books of processors and distributors. One of the AAA amendments now pending in Congress would give the department power to do just this. ! The amendment was defeated last session after haid pressure from processors, but is said to be scheduled for passage now. But its passage will not mean any price-fixing in favor of the consumer. In ex- j plaining why such power is sought, 1 Mr. Wallace said it is to give the government authority to permit abrogation of the Sherman Anti-Trust law provisions.

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FEB. 22, 1935