Indianapolis Times, Volume 46, Number 257, Indianapolis, Marion County, 7 March 1935 — Page 26

PAGE 26

CHANGE IN RFC LAW TO MAKc LENDING EASIER

U. S. Has $256,000,000 in Fund for Financing Industries. BY ROBERT S. BROWN' Tim.. .p.nil Writer WASHINGTON. March 7—The Reconstruciton Finance Corporation is renewing its campaign to make direct loans to industry. Armed with recent amendments by Congress to the original RFC Industrial loan act— the most important of which ease security requirements and extend the repayment period from five years to 10—Jesse H Jor.e.s, RFC cha.rman. hopes that “we can make more loans than in the past ~ The RFC has 256 million dollars available for industrial loans, just forty-four millions less than nearly a year ago when Congress first authorized it to make . uch loans. Only eleven of the forty-four millions actually have been paid out. the remainder being in the form of authorizations only. Security Rules Relaxed Mr Jones said the RFC now was ready to make loam “so secured as reasonably to assure repayment.” In drafting regulations covering the loans the RFC has acted in the belief that Congress, in voting the amendments, wanted to liberalize the requirement that such loam have “adequate security.” Mr. Jones said the RFC now could “bet more on the man and his character.” lessening the emphasis on collateral. General types of collateral acceptable to the RFC include first mortgages on real estate, plant and equipment, assignment of warehouse receipts, first mortgages on chattels, or assignment on receivable accounts. The applicant is expected to be solvent when applying for a loan, but if he is not the RFC will take into consideration the “manner in which the applicant will became solvent pnor to the time of disbursmeot of the loan ” Each applicant also must certify his compliance with NRA regulations. Chairman Jones believes extension of the repayment period from five to 10 years will attract many industrial firms plar .’ng capital expenditures. Loan Maximum Lifted Besides making direct loam to industry, the RFC is authorized to buy participations in loam made by banks when the latter feel that the loans are too large to carry. Another important change in the original act removes the SSOO 000 maximum on loans which the RFC may approve. The amended law leaves the matter to tlv jurisdiction of the RPC board of directors. Interest charges are to remain at the "prevailing bank rate.” which aL present is 6 per cent. Mr. Jones however, believes the low rate being paid by the government on its new securities will bring down private interest charges. PSYCHOLOGY LECTURE SERIES TO BE OPENED Miss Lydia Swain Will Give Talks at Spink-Arms. Tne first of a series of five lec-’ tures on practical psychology wall be given at 8 tomorrow night at the Spink-Arms bv Miss Lydia Swain Harrison. Milwaukee. Other lectures which wall be open to the public without charge will be held at 2:30 Sunday and at 8 Monday. Tuesday and Wednesday nights.

STOUT’S FACTORY I FOR SPRING I % Ladies’ Factory Seconds I © Make your loot lon of whito shoo* now while sizo* and m M assortment* aro oomploto. Stout’s hi>;h->rraiJo factory sec- M 11 |g (for the utmost in white shoe value. Plenty of nar- / the unusual / 1 .. .. .. . 2 20, J ](\. s9>9B ‘ \/\ $0 98 Space \ (tusllr r '~* %J • gtoufs Stone 318 *^i d I r k , Ave ’ STOUTS STORES OPEN 8 A. M. CLOSE WEEK DAYS 6 P. M. SATURDAYS. 9 P. M. SHOE STORE

“THE PARADE” Is Coming • • • Watch FRIDA Y’S TIMES

FIRST TWISTER OF SEASON HITS WICHITA

A tornado whipping out of the southwest, a towering black cloud with its tail lashing across the city, spread destruction in suburbs of Wichita. Kan., opening the Sunflower state’s tornado season by hurling four homes and three business buildings in ruins to the ground. Thi2, picture vividly shows the advance of the storm, snapped threequarters of a mile away by the photographer before he sought shelter.

LEWIS RAPS INDIANA COAL MINE OWNERS Urges Support in Senate for Control Bill. B'l Timet Special WASHINGTON, March 7. —lndiana coal operators in general and their spokesman, Jonas Waffle, in particular, are being roundly scored by John L. Lewis, of the United Mine Workers of America, for their opposition to the Guffey Coal Control Bill. In no other state is there so much necessity for unity and a strong hand needed for control, asserted Mr. Lewis before a Senate subcommittee. *T know of no region," Mr. Lewis asserted, “where they admit more lamentation than in Indiana, nor where there is more opposition whenever any method is suggested to solve their problems.” He charged that certain operators were in such dire plight that they HUM

had to beat their pay rolls, but that they always managed to dig up enough money to finance the salary i of Mr. Waffle. “Some mines are so poor they can not buy oil to start their machinery,” he declared. Bonus Meeting Arranged Ex-service men interested in the immediate cash payment of the adjusted service certificate have been invited to attend a meeting at 8:30 tomorrow’ night at 3872 E. Washing-ton-st. Harold Eastman and H. R. Crooke will have charge of the meeting.

C,pnu9t 1935. Tht Am,r*ea Tsb*. Cccpuj, LUCKIES USE ONLY CENTER WAVES . . . CENTER LEAVES GIVE YOU THE MILDEST SMOKE .M*l. Tty ■£&,

THE INDIANAPOLIS TIMES

Shooting School— CUN MUST FIT INDIVIDUAL, IS EXPERTS VIEW

Improvement Is Shown by Times-Em-Roe Pupils by Adjustment. A gun, in order to give the best service, needs to fit the individual just as exactly as does his tailormade suit. Charles E. Adams, shotgun expert, explained in The Indianapolis Times-Em-Roe shooting class yesterday at the Indianapolis Gun Club, 1340 S. Lynd-hurst-dr. A number of the 25 pupils of the class yesterday had their guns fitted to them, to eliminate “kicking,” bruising of shoulders, cheeks and fingers. The changes require adjustment of the gun stock, to allow it to fit smoothly against the shoulder when the gun is brought up for a shot, instead of fitting at an angle; lengthening or shortening of the stock, to allow it to extend just the proper distance from the face when fired, and sometimes changing of the tilt of the pistol grip of the gun. One pupil of the class who had been unable to hit the targets in former practice, made a good average yesterday following changes in the gun. In addition to these changes, Mr. Adams made patterns of the shot of the guns, to determine whether they were adjusted for the desired kind of shooting. The patterns are made by firing a shot into a piece of paper tacked to a board target 20 or 30 yards away. With the aid of a large compass, three circles are drawn on the paper following the shot, by which Mr. STOP A COLD THE FIRST DAY! Don’t let it run and become a menace! Take Grove’s Laxative Bromo Quinine at the first sneeze or chill. It usually “knocks” a cold quickly because it does four things—opens the bowels—combats I the infection and fever in the system—i relieves the headache and grippy feeling i —and tones the system. At all druggists. Grove's LAXATIVE BROMO QUININE Also stores in Anderson, tkch- ID | C mond. Ft. VVavne. Louisville SATISFACTION OR MONEY BACK

Adams was able to show the pupils the radius of the shot. If the shot is concentrated in the center of the pattern, he explained that game would escape from the radius of the shot. In order to remedy this defect, gun barrels are bored out, allowing the shot to spread into the other circles in an even spread. The class yesterday practiced shots at various angles, and shot doubles, in the same fashion as the technique used in shooting quail. The class will continue for a month and is open to all hunters and persons interested in shooting. Its primary’ motive is to teach both novices and expert shooters the safe handling of guns as well as expert ; shooting. Indianapolis Tomorrow Indiana Section, American Waterworks Association, all day, Antlers. Delta Tau Delta, luncheon, Columbia Club. Optimist Club, luncheon, Columbia Club. Reserve Officers Association, luncheon, Board of Trade Building. Sahara Grotto, luncheon, Grotto Club. Articles Worth 5360 Stolen Clothing and silverware valued at $360 were stolen last night from the home of Samuel Rubenstein, 48, of 909 S. Capitol-av, president of the Standard Auto Parts & Tire Cos. /W\ r —SAVE YOLK HEALTH—YOUR TIME AND MONEY WITH THE BARTON WASHER

BISHOP FRANCIS IS SPEAKER AT LENTENSERVICE Widespread Observance of Season Is Urged at Christ Church. Members of religious groups in Indianapolis continued their observance of Lent today following Ash Wednesday services yesterday. Bishop Joseph M. Francis was to speak at noon at Christ Church on "The Opportunity of Christian Discipleship.” Speaking at the first of a series of Lenten services yesterday at Christ Church, Bishop Francis, head i WHITEFISH H Just think of it! Fresh caught sal Whitefish—caught through the ice I in Canadian lakps. I 2 to 3 pounds each W W ■ ■ I— while 2000 lbs. ■ I last. Lb. | I BASS striDed lb 15c I PERCH Lake Erie lb. 19c I HALIBUT SUced Ib 25c I CODFISH Mother Ann box 2sc OYSTERS Standards at. 39c I LOBSTERS Mediums 39c ROE SHAD QQ Fancy, fresh. 3 to 4 lbs. each. Lb. Willis Fish Cos. ■’3B Mass. Ave. HI. 7191-9S

EXQUISITE SPRING FLOWERS See or Call Your Florist ALLIED FLORISTS ASSOCIATION, Inc. of Indianapolis

of the Protestant Episcopal Diocese of Indianapolis, said: “No thinking person is satisfied with things as they are. either in his own individual life or the life of the whole wide world. "All sorts of panaceas have been proposed, but none of them seems to solve all our difficulties. Yet I am not altogether pessimistic. I know there is a Power, which we are beginning to recognize, that can help us in these times. That Power is

S v s- y Imi i I j ! j —"— ■*■. i A Dental Value SELLS ITSELF! It has taken a state legislative amendment to prevent dentists from high pressure methods of advertising. We were in favor of it because TRUTH we believe that quality alone govin eras price in dentistry. Thousands Advertising of patients all over Indiana know that we have conducted our practice by the golden rule—and that honest work and honest prices have made us “Indiana’s Largest Dental Organization.” ka a ||ja Puts the Tooth to nrlA. XwLINfc Sleep, Not the Patient. 2d Floor Kresge Bldg., Penn, and Wash.

.MARCH 7, 1935

God in us. When we come to touch God as a living reality, we come into the possession of power.’’ Bishop Francis urged widespread ; observance of the Lerten season be- | cause of the need for persons to ; stop and think of themselves and | the world predicaments. “Whatever our ideal is, whatever it is that we want to be. whatever we want to attain, has in each of us an element of the good life” Bishop Francis said.