Indianapolis Times, Volume 47, Number 2, Indianapolis, Marion County, 13 March 1935 — Page 1
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MINIMUM PROFITS ORIGINAL GOAL OF CITIZENS GAS CO. Point Seems Clearly Established That Firm Was to Allocate Surplus for Retirement of Common Stock. SUPREME COURT RULING RECALLED ♦ Highest U. S. Tribunal Decided City Succeeded to Rights and on This Basis Present Organization Was Created. Thii i* the first of a series of articles resulting from an intensive study of the many factors involved in an eventual solution of Indianapolis’ vexatious gas problem. The Indianapolis Times intends this survey to unravel the complexities in the picture and to make for a better understanding of the entire situation. BY VINCENT LYONS Times Finanrial Editor Indianapolis* first experience with gas, in one form or another, dates back to 1831 when a company known as the Indianapolis Gas Light and Coke Cos. came into existence, but it was not until 1887 that natural gas was discovered in this vicinity. Immediately wildcat operators, shoe-string promoters, large Eastern corporations and local citizens engaged in a feverish race to gain control of this valuable resource. The local group was vitcorious and the result was the formation of the Consumers Gas Trust Cos. In that same year the Indianapolis Natural Gas Cos. was created.
The Consumers Gas Trust] Cos., it should be remembered, provided the pattern by which the present Citizens Gas Cos. was cut. The present Indianapolis Gas Cos., property ot which is under lease to the Citizens Company, is a direct lineal descendant of the Indianapolis Natural Gas Cos. The Consumers Gas Trai t common stock was lodged in the hand;- of voting trustees. The articles of incorporation provided that when the stockholders were paid off the gas was to be furnished to consumers at cost. Furthermore, the city had an option to acquire the company at an appraised r ost. These two companies contffiued to do business until 1838 when the Indianapolis Gas Cos. succeeded to I the activities of the Indianapolis Natural Gas Cos. Thus, in the latter part of the nineteenth century the city of Indianapolis was receiving two types of gas—natuial from the Consumers Gas Trust Cos. and artificial from the Indianapolis Gas Cos. Gas Supply Failed In 1304 the promising Consumers Gas Trust Cos. ran into a snag when the gas fields supplying the company with its product failed. The unit then proposed to make artificial gas. but a non-iesident acquired large blocks of the stock and won a court suit enjoining the company from making artificial gas. It was further ruled that the assets of the company belonged to the stockholders. Three leading citizens then held a series of meetings with the idea of selling gas to the community. Profiting by the Consumers Gas Trust Cos. episode, they made a contract with the city on Aug. 25. 1305. allowing the Citizens Gas Cos., which they later formed to use the streets and public places to lav pipes and distribute gas. Price Limit Set Other provisions of the contract were that the pnee of gas should never exceed 60 cents a 1000 cubic feet; that if the property and plant had not become the property of the city by the redemption and cancellation of certificates of subscribers immmoi - ock at par value of $25 and accrued dividends at the rate of 10 per cent yearly, before the end of 25 years, the board of public works at the end of the 25-year period "hould have the right to pay the balance due certificate holders and the plant and property should be conveyed to the city to be owned and operated or owned and leased by it. Af the same tmv the trio of citizens entered into a separate contract with the city, detailing the manner in which the city could acquire the property. In this pact it was agreed, among other things, that the directors should semiannually publish in two newspapers a detailed statement of the company's affairs, including assets and liabilities and disbursements and receipts. Trustees Hold Stock Other provisions of this separate contract were that the city controller should have the right at any time to investigate the books of the company, and thet the city civil engineering should have the right at any time to make examinations of the plant and property. Insofar as the common stock was concerned the contract provided that the entire capital stock issued (Turn to Page 8l Times Index Auto News 15 Br.dgt 7 Broun 11 Comics 19 Editorial 12 Financial .. 14 Hickman—Theaters 8 Junior Aviation 8 Napoleon’a Letters 11 Pec’.tr li Radio 10 Shooting School. 20 Sporla 18-17 Slate News 15 Woman's Pages 6-7
The Indianapolis Times Cloudy tonight with lowest temperature about 34; tomorrow probably fai r and somewhat colder.
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VOLUME 47 —NUMBER 2
This Is Your Pass to a Seat in Front Row Gen. Johnson's First Article Appears in Times Tomorrow; Times Sends Staff Man to Royal Oak, Mich. The Indianapolis Times, starting tomorrow, offers its readers a ringside seat in the Johnson-Coughlin-Long “verbal battle of the century.” ( Gen. Hugh S. Johnson, former NRA chief, will comment daily on iflairs and events for The Indianapolis Times. At the same time, Forrest Davis, special staff writer for The Times, will be at Royal Oak, Mich.,
U. S. TO TAKE OVER STATE FOREST ARE! 10.000-Acre Tract Removed From Production. Ky fulled PrfM WASHINGTON. March 13.—Development of a 10.000-acre forest and recreational area in Indiana was assured today by Relief Administrator Ham- L. Hopkins. He said the government had accepted options on a 10.000-acre tract ;n Martin County as part of the program to retire sub-marginal land from agricultural use. The area selected for purchase. Hopkins said, "lies in the major rural-probipm area of Indicna.” "Erosion is rapidly washing away the loose soil, and the meager income which farm families receive from the land ha* proved insufficient.” Hopkins said the Federal government. after completing purchase of the land, will turn it over to the state of Indiana for maintenance and administration. FORMER POLICE HEAD CLEARED OF PERJURY Speedy Acquittal Is Won By Kansas City Man. By T nitrd Prrss KANSAS CITY. Mo.. March 13. Eugene C. Reppert. former director of police, was exonerated today of Federal charges that he gave perjured testimony before the grand jury that investigated the Union Station massacre. The jury returned a verdict of acquittal after 15 minutes of deliberation last night. It was greeted with such enthusiasm by Mr. Reppert's friends that Judge Albert L. Reeves threatened to clear the courtroom. RICHBERG CONCLUDES HIS NRA TESTIMONY Closes With Heated Defense of Many Recovery Moves. By l nit<4 Press WASHINGTON March 13 Dropping of all codes covering less than 10.000 workers each and merging them into 181 major codes was suggested today by Donald R. Richberg. as he concluded his testimony in the Senate's NRA investigation. Mr. Richberg closed with a heated defense of many NRA actions which have been criticized. He denied that the rank and file of business wanted to abandon NRA and said •battalions” of business and labor representatives were anxious to go to the hearing in its behalf. carmelTpostmaster IS ACCUSED OF THEFT J. Clyde Davis Jailed Here After Indictment. J Clyde Davis. 36. postmaster at Carmel. Ind. is being held in the Marion County Jail in default of bond on a charge of embezzlement of postal funds following his arrest late yesterday. He is alleged to have embezzled $282. according to a Federal grand jury indictment.
Roosevelt Uses Policies Sponsored by Both Baruch and Coughlin, Survey Shows
R v t nttrd Prr** WASHINGTON, March 13. Troubled citizens seeking comparatively impartial evidence in the Johnson-Baruch and LongCoughlin dispute may adopt today A1 Smiths famous campaign strategy: • Let’s see what the record says. The record reveals President Roosevelt has adopted some of Bernard M. Baruchs’ economic program and some meas-
ures sponsored by Father Charles E. Coughlin. He also has rejected some of the projects of each. The New Deal, in general, has leaned toward the priest on money banking and spending and toward Baruch on industrial and agricultural r eform. Here is
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the Baruch plan as outlined Feb. 13. 1933 before the “best brains clinic” assembled by the Senate finance committee: “If I were writing a program,” said Mr. Baruch, "it would be: “1. Make adequate provision against human suffering. -2. Put Federal credit beyond perad venture of doubt. “3. Aids to rapid liquidation of debt.” “4. Plans to encourage rapid consumption of commodity surpluses and to control productive capacity. “5. Determination of policy on world economics, disarmament and debt.”
sending dispatches from there presenting Father Coughlin’s views, his comments on Gen. Johnson’s articles, and covering the general news of Father Coughlin. To supplement this service to Times readers, members of The Times staff in Washington will maintain a running Are of news stories on Senator Long’s activities and his comments. In addition, features on the lives of these three men. who today occupy the nation's spotlight, will give Times readers a better insight into the national affairs in which they are involved and the real story of their everyday lives. Probably no three individuals are in the news more than these three men and that is why The Times has arranged to chronicle their activities. Publication of the Gen. Johnson articles does not mean that The Times agrees with everything that Gen. Johnson will have to say. The Times believes that it will find occasion to disagree with Gen. Johnson and when it does it will not hesitate to say so in vigorous editorial fashion. What Gen. Johnson writes wiil be his ow-n opinion and comment and does not necessarily reflect the editorial policy of The Times. The Times believes that Gen. Johnson’s comments will be out* standing in reflecting current news events. In order to keep apace with affairs of the nation, you should read The Times and not miss Gen. Johnson's series which starts tomorrow. NICHOLSONS ARRIVE FOR JO-DAY VISIT Diplomat Is Met Here by Relatives and Friends. Meredith Nicholson, Hoosier author and American minister to Venezuela, arrived in Indianapolis today with Mrs Nicholson for a tenday visit before departing for South America. Met by relatives and friends. Mr. and Mrs. Nicholson went directly from the station to the Indianapolis Athletic Club, where they will stay. Included in the group with Mr. and Mrs. Nicholson shortly after their arrival were Mrs. Roberta West Nicholson, only woman member of the General Assembly, and J. K. Lilly, Indianapolis capitalist. Mr. Nicholson came here from Washington, where he has been haiing a series of conferences with State Department officials relative to his new post.
Ape-Like Man Wages Heroic Battle for Life as Physicians Strive to Combat Strange Malady
Bn l nitrd Press LOS ANGELES. March 13 George Bocklet. 49-year-old Azusa (Cal.) resident who is gradually taking on the appearance of an ape. today was waging a battle for his life. Confined to a hospital where he was taken by doctors who hope to find a cure for the strange malady
INDIANAPOLIS, WEDNESDAY, MARCH 13, 1935
Mr. Baruch proposed, specifically, immediate balancing of the budget and reduction of the annual cost of government to §3.000,000.000. He opposed all so-called currency inflation schemes. “Delay in balancing the budget is trifling with disaster," he said. With the budget balanced we can approach other problems with more assurance of success. Without it all must fail.” Father Coughlin, meantime, had advocated currency expansion. abandonment o f
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national debt by billion dollar leaps toward anew forecast maximum of $34,000,000,000. Father Coughlin and Mr. Baruch
Wabash May Leave Its Banks Within 48 Hours
The surging Wabash River, swollen by heavy rains, is rising rapidly and is expected to reach one foot above the flood stage at Mt. Carmel, 111., near the Indiana line, within 48 hours, J. H. Armington, Federal meteorologist, said today. At New Harmony, Ind., south of Mt. Carmel, the river had risen three feet above its last night’s level by this morning. Mr. Armington said that, while the situation was not serious, the Wabash River might overflow its banks and pour into the lowlands.
ine state Highway Department today opened up several roads in various parts of the state which had been flooded by the drenching rainfall Sunday and Monday. Mr. Armington said that the state had been saved from a serious flood because the rainfall in the northern end of the state had been slight compared to that in the south. Nearing Flood Levels The White River flows into Wabash River, which, in turn, empties into the Ohio River, so that, unless the two Indiana rivers rose several inches above the flood stage, there would be no real danger of levees along any of them breaking and imperiling the countryside, Mr. Armington explained. Several of the small streams backed up in the sewers of some southern Indiana communities, flooding cellars and stores. However, crops suffered no serious damage. Mr. Armington said. The Wabash River south of Vincennes is expected to reach the flood stage while White River near Petersburg, Decker and Hazelton is due to reach flood level. City Short of Rain The only effect of the rains in Indianapolis was to give the streams and White River near here a good flushing, William C. Mable, chief engineer of the Indianapolis Water Cos., said. Even with the heavy rains, Indianapolis is short two inches of rainfall this year and nine to 12 inches over a two-year period, Mr. Armington said. The small streams rise and subside quickly. Mr. Armington said. The forecast for tonight and tomorrow is for a slow rise in temperature tonight with a drop tomorrow. Fair weather is expected with the exception of light rain or snow in the extreme east portion of the state tonight, 6000 Are Homeless Bt United Press P.ocd waters from tributaries of the Mississippi River today continued to menace thousands of farmers living in the lowlands of southeastern Missouri, lower Illinois and Arkansas. Red Cross workers, who reported they had the relief situation under control early today, estimated about 6000 persons were removed from the flooded areas. State and private agencies, assisting in the care of refugees, indicated the rivers and streams throughout this territory had passed flood stage. No estimate of damage could be made but fears were felt for buildings, equipment and livestock in the lowlands, where highways and fields in most places are under several feet of water. The Mississippi River is rising slowly but Weather Bureau officials at St. Louis believed the situation was not serious. Workers of the Midwest division of the National Red Cross reported the flood inundation along the Black and St. Francis Rivers in southeastern Missouri as “very acute.” Hourly Temperatures 6 a. m 31 10 a. m 36 7a. m 31 11 a. m 37 8 a. m 32 12 (noon).. 40 9 a. m 34 1 p. m 44 Tomorrows sunrise, 5:58 a. m.; sunset, 5:51 p. m.
that is shrinking his body but grotesquely enlarging his head. Mr. Bocklet suffered a series of severe hemorrhages yesterday. Dr. Frank G. Nolan, his physician reported. •He lost more than a quart of blood.” Dr. Nolan said. “Unless the hemorrhages stop, the patient is in grave danger.” Dr. Nolan said Mr. Bocklet was
might find agreement in provision against human suffering and aids for the liquidation of debt. In his Monday night broadcast, the priest remarked that within 24 hours of his latest plea for debt retirement methods which would reduce annual interest charges, the Administration announced a plan to save $13,500,000 by his plan. It involves use of $674,000,000 of gold seizure profit to retire called bonds. Mr. Baruch opposed the Roosevelt plan to abandon the gold standard,
but has not joined the subsequent business clamor for dollar stabilization. His advice, however, is assumed still to be directed toward a balanced budget. In industry and agriculture Mr. Baruch prevailed. Hugh S. Johnson, a “Baruch man,” was drafted in June, 1933, to put into effect NRA—a “Baruch plan.” George N. Peek,
the gold standard, Federal spending for relief and the creation of jobs—the exact opposite of Baruch’s fiscal program. True, the priest offers many projects rejected by the Administration. But Mr. Roosev e 11 abandoned gold. The President did not balance the budget but is moving the
another Baruch man, sponsored and at first administered AAA crop control—also a Baruch plan. There are stories that Mr. Baruch combed
BAER BROTHERS MAY FIGHT IN RING HERE Heavyweight Champion Is Sought for Card. Negotiations are under way to bring Max Baer, heavyweight boxing champion of the world, and his brother, Buddy Baer, to Indianapolis early in April for sparring exhibitions, it was learned today. Those promoting the exhibition have approached Butler University with a proposal that they rent the fieldhouse. Butler’s student aid fund will share in the net receipts. The Baers are now on the West Coast and are expected to start for Chicago this week. They will stay in Chicago some time and, if they appear here, will journey down from Chicago for the occasion. HUEY IS REPUDIATED BY VOTEIN SENATE Kingfish Suffers Crushing Defeat in Test. By United Pres* WASHINGTON, March 13.—The Senate has had i f s first opportunity to vote on a portion of Huey Long’s “share-our-wealth” program and has repudiated it by an overwhelming majority. The margin against Long was 75 to 5 when the Senate rejected his proposal to ear-mark $1,000,000,00c of Federal money for needy students in search of a colh ge education. Three Republicans and one Democrat voted with Long. The result was not so much a verdict on the merits of the proposed amendment to the $4,880,000,000 workrelief bill as it was a reflection of Senate antagonism to Long himself. SOUTH CAROLINA HOUSE VOTES TO HEAR HUEY Move to Cancel Invitation Is Beaten In Vote. By United Press COLUMBIA, S. C„ March 13. The South Carolina House of Representatives today defeated a resolution, 51 to 35. which characterized United States Senator Huey P. Long “a public enemy” and would have requested him not to address the Legislature March 23 as he has been invited to do. BONUS FACES DELAY OF WEEK IN HOUSE Dispute Over Procedure Results in Postponement. By United Press WASHINGTON, March 13. House consideration of the soldier bonus will be delayed until next week, Administration leaders said today as a flare-up over procedure developed serious proportions.
seized with three attacks of hemorrhaging, causing blood to flew from his nose and mouth, j “He says the pain eases in his head when the blood stops flowing,” ! the doctor said. Dr. Nolan said he planned to experiment with guinea pigs in the hope of finding some cure for the i unusual malady with which Mr.
the candidates in 1932 looking for a statesman who would sponsor NRA and AAA from the White House. It is believed both plans were rejected by Mr. Hoover. There was some thought of Newton D. Baker, a Democrat. Mr. Baruch, for a time, was among the “stop Roosevelt” pre-convention campaigner? Mr. Baruch is wealthy. He entered politics during the Wilson ad-
ministration as chairman of the War Industries Board, forerunner of NRA. He backed McAdoo against Smith in the 1924 Demo:ratic convention and supported Smith against Hoover in 1928. Mr. Baruch remained the Wilson administration as com-muter-adviser to svery president —Harding, Cool-
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idge, Hoover and, now, Roosevelt. He has been economic father confessor on occasion to the American Farm Bureau, the farm co-operative movement and the American Federation of Labor. Annually, he addresses the pick of American Military strategists at the Army War College. When Mr. Hoover lost control of Congress in the early depression period, Mr. Baruch persuaded Senate Democratic leader Joseph T. Robinson to adopt the policy of “non-partisan co-operation in the emergency” which almost cost the Senator his party leadership. Sen. ator Huey P. Long’s feud with Robinson dates from that decision.
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Strachey, Freed on Bail, Fights Deportation Order Famed British Writer Admits He’s a Communist; Denies Urging U. S. Government Overthrown. By United Press CHICAGO, March 13— Evelyn John Strachey was released on SSOO bond today after a secret hearing on a warrant seeking his deportation. Evidence taken at the hearing will be sent to Frances Perkins, Secretary of Labor, in Washington, for final decision. Meanwhile Mr. Strachey hurried away to Cleveland to fill a lecture
engagement similar to the one at Glencoe, 111., last night which was followed by his arrest by immigration authorities who characterized him as a “red.” Robert Morss Lovett, a professor at the University of Chicago, posted bond for Mr. Strachey, who is a prominent British author and onetiipe member of parliament. The secret hearing was before Fred J. Schiotfeldt, district director of immigration, who refused to discuss the case but who presumably questioned Mr. Strachey about the charges that he gave false and misleading statements when he asked for a visitor's visa to enter the United States. Mr. Strachey. although goodnatured and inclined to joke about the whole affair, indicated he takes it seriously enough when he declared: "I certainly am going to fight it. In my own country I am a Communist but I belong to no Communist organization and I am not advocating the overthrow of the United States government. "I believe that the world is going Communist for one simple reason and chat reason is that the existing system, under which we organize our economic life, is breaking down and the only alternative available is Communism.” BETS PLACED IN DIONNE TEETH-CUTTING RACE Annette’s Example Brings Wagers i*s to Who’s Next. By United Press CALLANDER, Ontario, March 13. —Nurses at the Dafoe Hospital, home of the Dionne quintuplets, today wagered on their favorites in the race to see which baby will be the first to follow Annette's tooth cutting example. Dr. Allan Roy Dafoe refused to’ name his choice. "It will be pretty much of a gamble from now on,” he chuckled. "We will have to watch closely for ties.” CYCLE CRASH FATAL TO BUTLER STUDENT Carl Traemper, 21, Is Victim; Father Died Four Weeks Ago. Carl Truemper, 21-year-old Butler University student, who was injured at Rushville, Ind., Sunday in a motorcycle accident, died in City Hospital there today. He is the son of Mrs. Eva S. Truemper, 1147 E. lOth-st. His father, Agedius V. Truemper. died four weeks ago. Services will be at 2 Friday in the Wald Funeral Home, Illinois and 17th-sts, with burial in Crown Hill.
Bocklet is stricken. Mr. Bocklet, a former Chicago commercial artist, was stricken with the malady, known as Paget’s disease, eight years ago. Since that time he has shrunk more than four inches in height, his bones have become warped and his head has swelled until it is almost three times its normal sue.
Eu red as Second-Class Matter at Postoffice. Indianapolis. Ind.
ROOSEVELT WAR WITH UTILITIES IN FULL SWING Spectacular Battle to Finish Opened With' President’s Fighting Message Urging Holding Company Abolition. POWER ‘CZARS’ ANSWER DEFIANTLY] Propaganda Campaign Bitterly Assailed by Chief Executive; House Committee Scene of Initial Skirmish. By United Pres* WASHINGTON, March 13 —The White House and the powerful utilities industry locked horns today in what promised to develop into the next spectacular fight of the New Deal. The battle, which began with President Roosevelt’s fighting message to Congress demanding abolition of utilityholding companies, will be launched tomorrow when the utilities present objections to the Rayburn-V heelei bill designed to outlaw holding companies by 1940, before the House Interstate Commerce Committee. The tone of Mr. Roosevelt’s message left no doubt that the New Deal staked much on the success of the RayburnWheeler bill or legislation similar to it. Utilities continued marshaling their forces here for the committee hearing, and their leaders issued defiant state-
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MYSTERY FLIGHT OF ARMY PILOTS ENOS Hop Made to Test Robot Equipment, Is Word. By United Press OAKLAND, Cal., March 13.—A low-winged Douglas monoplane, manned by a robot pilot and an undetermined number of United States Army fliers drafted by the Department of Commerce, returned here today after a mysterious three-hour test hop over the Pacific. Object of the flight, guarded closely as the heavily fueled craft took off from a special runway at 6:56 a. m. (Indianapolis time', remained undisclosed. The plane returned shortly after 10 a. m. Reports considered most reliable, however, were that the flight was made to test automatic flying equipment. including anew type directional compass, which, it was believed, will be employed in projected transpacific passenger service to Honolulu and the Orient. SUSPECT IN SLAYING AT JAILJSCAPES Wabash Prisoner, 19, Picks Lock of Cell. By United Press WABASH, Ind., March 13. Robert Finkenbiner, 19, suspected of slaying Howard "Pete” Holcomb in the county jail here, escaped from the jail early today. Finkenbiner fled between 3 and 4 o’clock by picking the lock of his cell, authorities said. He climbed through a second story window, dropped a few feet to the roof of the porch at the rear of the sheriff’s residence and then jumped nine feet to the ground. Heel prints of the prisoner were found in the soft earth at the rear of the residence. The escape was discovered by George Kellam, turnkey, investigating grating noises and shuffling of feet. The cell door was standing open, Mr. Kellam said. Three state policemen from the Ligonier barracks joined Wabash police and sheriff’s officers in a search for the fugitive.
TRABUE GETS 4-YEAR TERM ON COMMISSION Former Rushville Mayor Appointed to Public Service Body Samuel L. Trabue, Rushville, Ind., today was appointed for four years to membership on the Indiana Public Service Commission. He had just completed a two-year term. Mr. Trabue was former mayor of Rushville and once was president of the Indiana Municipal League. The appointment was made by Gov. Paul V. McNutt.
HOME EDITION PRICE THREE CENTS
ments, pledging a finish fight. “The right to express opinion, even when opposed to an Administration measure, has not yet been abrogated,”Philip H. Gadsden, chairman of the Committee of Public Utilities Executives, said. “The utilities have endeavored honestly to inform investors and the general public as to the disastrous effects of this legislation. "The President states that he is as ‘unimpressed’ by these protests as he was by similar protests against the Securities Exchange bill last spring and that ‘the Securities Exchange act is now generally accepted as a constructive measure.’ "We would respectfully point out that what made that act at all workable was the opposition that developed against the original bill which forced the adoption of drastic changes in the legislation as finally enacted. Democrats Cheev Message "We will not be deterred from our purpose in submitting to the congressional committees the facts involved in their true light, convinced in the belief that in due time the justice of our opposition will prevail.” While Mr. Roosevelt’s message was greeted by applause from the Democratic side of the House and with smiles in the Senate, it did not assure passage of the RayburnWheeler bill, which many congressmen believe too drastic. These members believe strict regulation of holding companies rather than their annihilation is the better course. The Rayburn-Wheeler bill now provides that holding companies, except in a few instances, must go out of business by 1940. While most congressmen apparently held no brief for holding companies themselves, considerable fear has been expressed for investors should the bill be enacted as written. Roosevelt Attacks Propaganda Mr. Roosevelt attacked the propaganda campaign being conducted by utilities which have loaded Congressional mail bags with protests against the Rayburn-Wheeler bill for weeks. He said the companies were using "investors’ money to make the investor believe that the efforts of the government to protect him are designed to defraud him.” He termed holding companies represented “private socialism.” Proponents of the bill were expected to conclude their testimony before the house committee today. Opponents are sheduled to begin presenting their evidence tomorrow. Within the committee there is a growing sentiment for regulation to halt abuses attributed to the companies, but to minimize financial losses which the companies say will result to security holders. Tons of Mail Received Congressmen have received tons of mail protesting against the bill during the last few weeks. Most members agree the demands have had little effect. Several members believe the campaign has worked to the detriment rather than the benefit of utilities. It was this campaign which drew the strongest fire from the President in his mesage to Congress yesterday. He described the drive as a “propaganda drive” designed to arouse the “most far-fetched and fallacious fears.” Rep. John G. Cooper <R., O.), member of the commerce committee, said it was “untimely for the President to come to Congress right now when the committee is working hard to give the bill careful consideration.” "His criticism of propaganda coming to the committee and Congress against the bill does not,” Mr. Cooper said, "come with very good grace considering the attitude he and his advisers took on the question of holding back the public works bill until enough propaganda could be worked up throughout the country to get the Senators to change their vote on the McCarran amendment.”