Indianapolis Times, Volume 47, Number 7, Indianapolis, Marion County, 19 March 1935 — Page 3

MARCH 19, 1935_

$16,019,000 STOCKS, BONDS OUTSTANDING AGAINST 2 GAS PLANTS WORTH $18,404,165 Citizens Firm Must Pay $942,500 Annually in Dividends, Interest and Rent on Property It Leases. This is the sixth of a series of articles on the ramifications of the nationwide tas situation with emphasis on the many developments as they apply to Indianapolis. a a a BY VINCENT LYONS Tune* Financial Editor Although the combined book value of the property and plain of the Citizens Gas Cos. and the Indianapolis Gas Cos. is $18,104,165, the two companies at present have bonds and Uadinff in the amount of §16,019,000. This is disclosed in an analysis of reports for 1933 filed with the Public Service Commission. Citizens Gas Cos. properties are given

a value of §9,447,835 and the Indianapolis Gas Cos. a worth of $8,956,330 in separate reports. More than SII.OOO 000 of the various securities outstanding is represented by bonds—s6,Bßl 000 first mortgage 5s of the Indianapolis Gas Cos due in 1952 and $4,138,000 of first and refunding 5s of the Citizens Gas J Cos due in 1942. In addition, the Citizens Gas Cos. has outstanding $2 000 000 worth of common stock and -*' .90.000 of preferred shares. 1 The only other issue of the Indianapolis Gas Cos. consists of $2,000,000 of common slock. Thus, it Is seen that the Indian- I • polis Gas Cos. has $8 881.000 of securities in the hands of the puolic. | compared with its plant worth of | $8 956 330. while the Citizens Gas Cos. j has $7,133,000 of its securities outstanding. contrasted with its plant 1 worth of $9,447,835. Interest Is Assured Under the Citizens Gas-Indian-apolls Gas lease arrangement the former pays the latter the sum of $485,509 as rental for its plant and property. This figure provides for the payment of annual interest of | $344,000 on the outstanding bonds of the Indianapolis Gas Cos. and $l2O.- j 000 for dividends on the common j stock at the rate of 6 per cent an- | nually. The balance goes for other j expenses. Holders of Indianipohs Gas Cos. stock and bonas art* assured of in- j terest and dividends as long as the . Citizens Gas Cos. lease remains in e fTect. The common stock of the Citizens Gas Cos. a $25 par value issue, is entitled to 10 per cent annual dividends. or $2 50. Under the terms of the franchise with the city these shares must be redeemed at par value and all accrued dividends ■ must be paid before the city can acquire title to the property. Additional Stock Sold In 1928 the Citizens Gas Cos. j sold $1,000,000 worth of 5 peri rent preferred stock, represent-j ted bv 10.000 shares par value In conjunction with the sale of these scurities the Citizens Gas Cos. i amended its articles of incorporation to provide that after payment of operating expenses and taxes the earnings of the company should be applied first to the payment of i any accrued unpaid dividends upon i any preferred stock of the company 1 at the time outstanding. This amendment had the effect of j dropping the common stock down a notch insofar as its call on earnings was concerned. Before the sale of the preferred issue the common shares were entitled to first crack at earnings, but after the sale they were given second call. The entrance of preferred stock on the scenp also drew another amendment in the articles of incorporation which stated that "when all the outstanding preferred stock of the company shall have been re- j tired, and the holders of the certificates representing the common j stock shall have received by dividends. or otherwise, upon such certificates an amount equal tot hp face J value thereof, together with interest thereon at the rate of 10 per cent per annum.” the plant shall be con- ; vexed to the city. ( ommon Slock Affected This revision also gave a preferred status .to the new shares over j the outstanding common. As now comorised. the Citizens Gas Cos. every year must pay out a total of $942,509 yearly under the i terms of its various contracts with ; the Indianapolis Gas Cos. and the owners of various stocks and bonds. This is made up as follows: Annual rental under lease $485,509 Citizens Gas bond interest..s2o6,9oo Preferred dividends 50.000 Common dividends 200.000 Total $942.509.' iN>xt—The Milburn By-rrodurts Coal Cos.! 437-MILES-AN-HOUR PLANE GIVEN TESTS New* T>pe Pavsenger Airliner Successful in Italy. Bv railed Prr* TURIN. Italy. March 19.—A new type of Fiat GlB metal 18-passenger airplane was successfully tested here yesterday. It has two motors of 70 horsepower each with an average speed of 700 kilometers <437 mlies* an hour and a range of 800 kilometers.

FIRE REPORTS

Yntrrlit Fire Addtru T;me Lom 413 N Moreland *SI A M Non* •9S* N N>* Jr*eT 914 A M None !S2o N Alabama 9 54 A M. None 1142 Lata' etle 9 57 A M. *lO 924 BeUefonaine 10 49 A M *lO 1551 Leiir.eton 11 10 A M *25 Sf rdaemont 11 25 P M *1 ISO 9 AJburv 4 27 P M Trash 107 W So-Khera 4 SO P M (5 2190 N Olr.ee 504 P M *2 West and North 7.40 P.M. *3 T4r Pleasant Run-blvd and Emerson . 5 29 A M. None B * O R R and State 144 A M

Catching Col 4? VICKS (fcm VA-TRO-NOL^

WOMAN WRITER WINS SON: DENIES INTEREST IN ENZO FIERNIONTE

By I n itr4 Prrna HOLLYWOOD. March 19. Adela Rogers St. John, the writer, today had the custody of her 6-year-old son and also had things iegaiiy set right about her assocization with Enzo Fitrmonte, prize fighter husband of Madeleine Force Astor. Judge Dudley S. Valentine ruled that Miss St. John might retain the custody of the child whom her former husband, Dick Hyland, one-time football star, sought to have taken from her. Mr. Hyland's attorney delved into Miss St. John's association with the Italian fighter, but the writer explained that she ‘‘recognized in him the makings of another Valentino” and motored across the country with him merely as his "manager.” Judge Valentine ruled that the writer had not committed any acts w hich could be considered detrimental to the child.” ROBISON POST FILLS LEGION DRIVE QUOTA Becomes Seventh Group in District to Reach Membership Goal. The Bruce P. Robison Post, American Legion, has completed its membership quota in the 12th district drive in preparation for the state Legion convention here in August, District Commander Joseph F. Lutes announced today. The L. C. Smith Typewriter Cos., Inc., reported last night that its entire eligible membership was enrolled. Sheriff Otto Ray announced all 12 war veterans on his staff had joined. Seven posts already have completed their quotas. Ralph B. Gregg is campaign chairman, assisted by Mr. Lutes, E. O Marquette, Sheriff Ray and E. S. Conner. CONCERT CLUB ELECTS Allison Maxwell Named President of Technical Group. Allison Maxwell has been elected the president of the Boys’ Concert Club at Technical High School. Other officers are Lewis Bose, vice president; Robert Jordan, secretarytreasurer. and Harold Manship, sergeant-at-arms. Nine new members for this semester have been selected by J. Russell Paxton, director. They are Gilbert Coovert, Lowell R. Gano, Don Matthius, Robert Mayer, Tom Maggenhofen, Charles Mosiman, Roy Schatz, William Shaffer and Leon E. Trees. Joan Baylor is accompanist.

Son; Stolen 20 Years Ago by Gypsies, Home Again By t nitrd Press STEUBENVILLE. O. March 19 Blood tests proved conclusively today that the son of Mr. and Mrs. Tony Mahfood. stolen 20 years ago by gypsies, had been returned to them. Tears of joy streamed down Mrs. Mahfood's cheeks as she embraced her son. Jimmy, who for years traveled about the country with a roving gypsy band, believing his name was Andrew Smith.

Since Jimmy was abducted in 1915. the Mahfoods have had eight other children, but the father, a dry goods merchant, never gave up the search for his first-born. *T never lost hope that some day my son would be returned to me.” he said. "Doctors say that tests prove that Jimmy's blood and mine are identical. There also are birthmarks on his forearm and back that prove to me beyond a doubt that he is m> *on.” Jimmy disappeared when he was 8. just after a band of gypsies passed through Steubenville. FYir 20 years he traveled with the gypsies. leaving no trace. “About a year ago I ran away

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Beds and Wheel Chairs Are Desks, Nurses Are Teachers in Classrooms at Riley Hospital

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IN classrooms where desks are the beds and wheel chairs of crippled children, where teachers are nurses rallied into service under a graduate teacher, and where lessons are prepared between hours for medicine and therapeutic exercise, handicapped Indianapolis children are keeping abreast of their school work. The classrooms are those in the James Whitcomb Riley Hospital for Children and in the Rotary Convalescent Home, affiliated with the hospital. Inaugurated several years ago to keep school children patients from losing out in their grades at school while recuperating from operations or illness, the classes this year have been developed to a point where they cover all grades, from nursery school to high school. So apt are these children in the hospital that only one has had to take school work over after leaving. Many have been able not only to continue with their regular school courses, but have entered advanced grades upon leaving the hospital. In the nursery school, with surroundings of brightly colored toys and teaching equipment, children of pre-school age learn to cut out pictures, make clay figures and do other educational work similar to that sponsored by nursery schools for normal children. a an /’T'HREE classrooms have been arranged for grade school pupils, where children able to sit at ordinary desks have the latest of modern equipment. Others, confined to wheeled cots or beds, prepare their daily lessons on specially constructed lap boards or tables. One sun room at the convalescent home has been converted into a classroom recently for high school pupils. Here pupils are able to keep up with the curriculum of all but special classes, such as commercial bookkeeping and typing. Blackboards have been installed for the use of the nurse-teachers, where problems in mathematics and other subjects are worked for the benefit of the class. Classes are heltr each day from 9 to 11. The regular teacher, Miss Ruth Van Sickle, is assisted in her work among tle classes by nurses who have had university training.

from the band,” he related, “and made my home with the family of Arnold Dillon, in Little Rush Run, O. I knew I had been stolen by the gypsies, but I had no way of finding out who my true parents were. ■Finally, at the suggestion of the Dillons. I appealed to a Wheeling iW. Va.t newspaper to help me find my folks.” More than a dozen mothers answered the appeal, but for the most part the replies were merely sentimental, coming from women who wanted to give the youth a home.

THE INDIANAPOLIS TIMES

Upper left, Robert Ferguson. Upper right, Alice Chilton (left) and Betty Englcbright. Lower, Bobby Pogue and Nurse Miriam Record. The James Whitcomb Riley Hospital for Children now coiducts classes and provides education for crippled children of all ages and all grades, from nursing school through high school. In the Rotary Convalescent Home, a unit of the hospital, the children daily learn their lessons as these pictures illustrate. Robert Ferguson, a Technical High School junior afflicted with a spinal injury, studies for his next class. Alice Chilton and Betty Englebright compare the words they have misspelled in their last class. Bobby Pogue learns to cut out pictures through the guidance of Miss Miriam Record, who is in chaige of the nursery school at the home.

BALL STATE PRESIDENT ADDRESSES EDUCATORS Limited Facilities of 1851 Contrasted With Present System. The limited educational facilities of 1851 were contrasted with present day leisure, abundance of schools and reading material by L. A. Pittenger, Ball State Teachers’ College president, at a meeting of Indianapolis school principals and department directors in Cropsey Hall, Central Library, yesterday afternoon. A general meeting of teachers will be held Monday at Caleb Mills Hall. The speaker will be Dr. George Strayer of the Columbia University Teachers’ College. 300 Shriners Entertained More than 300 Shriners were entertained at a cabaret and floor show last night at Murat Temple. A business meeting also was held. The program was one of a series of social being arranged for Shriners.

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PEACE IS PIPEDREAM! THAT’S TEXT STUDIED IN U. S. CONFERENCE

By United Press WASHINGTON, March 19.—An intermediate sidelight on the reading matter attracting the attention of high state department officials during the height of the European crisis over Germany’s plan to rearm was revealed today. Following a series of conferences among state department officials, attended, among others, by Norman H. Davis, America's chief delegate to disarmament conferences, newspaper men were granted a conference with the official in whose office the department conference had taken place. They found lying upon his desk, as if serving as a text book or reference matter, a volume entitled: “The pipedream of peace.”

BELGIAN CABINET QUITS Financial Disputes Are Blamed for Resignation. By United Press BRUSSELS, Belgium, March 19. — Th? cabinet resigned today. Financial disputes were believed to have caused the action.

* u WmM&d& i&^HHnkm “These puppies won’t bite they’re too friendly. And that’s why I like Old Golds, too. They are always friendly to my throat, and delightful to my taste, no matter how many I smoke." v says GLORIA STUART C P- LariMtfd Cos., In*. Gloria Stuart, lovely star of “Gold Diggers of 1935” A arner Bros. Musical

GEORGE GERSHWIN’S WORK IS LAUDED BY MUSIC TEACHER AT NATIONAL SEMINAR HERE Young Composer Has Made Only Finished Contribution to American Music Since Foster, He Says. With the statement before them that George Gershwin, one of the kings of Tinpan Alley, had made the only distinctive contribution to American music since Stephen Foster, 2500 music teachers continued today to consider controversial and general topics on the third day of the North Central Music Educators’ Conference.

FIGHT TO AVERT. POWER STRIKE Regional Labor Board Makes Frantic Effort to Halt N. Y. Action. By I'nitcd Press NEW YORK. March 19.—The Re- ; gional Labor Board made frantic efforts today to avert a strike of utility employes. Union leaders agreed to defer any action until the board could contact John C. Parker, president of the Brooklyn Edison Cos. Mrs. Elinore M. Herrick, chairman of the Labor Board, telephoned an executive session of the Brotherhood of Utility Employes asking for further time in which to reach Edison officials. Meanwhile, the emergency committee empower to call a strike that would affect most of the city was told by Edward Coffey, chairman of the Manhattan-Bronx strike committee. that emergency crews evidently of nonunion men were placed in all generating and substations in the Bronx last night. PROTECTION FOR RAIL CROSSING IS SOUGHT Mass Meeting in Edgewood Called to Ask Hazard Elimination. Protection of vehicular and pedestrian traffic over the Epler-av crossing of the Pennsylvania Railroad in Edgewood will be demanded at a public hearing in Edgewood grade school gymnasium at 10:30 Thursday. Representatives of the Indiana Public Service Commission will hear a dozen speakers describe the hazards at the crossing over which, in a 32-hour check, more than 1800 vehicles and 6874 pedestrians passed. SAFETY PARLEY CALLED State Group to Attend Session at Purdue Thursday. Officers and members of the Indiana Motor Traffic Association will attend an automobile service and safety conference at Purdue University Thursday afternoon and night. Safety topics will be discussed. The association safety committee will meet at 507 Illinois Building, tomorrow afternoon to discuss a meeting to honor careful truck drivers.

PAGE 3

“In the Afro-Jewish-Broad-way school of music we are getting something distinctively American,” Theodore M. Finney, Council Bluffs, la,, lold the teachers yesterday afternoon at a “Modernism vs. Classicism” seminar. ‘•You see, we can hardly call the Negro music our own until It has been filtered through the keyboards of the Tinpan Alley composers,” said Mr. Finney. “We teach a modern music that is about 30 years behind the present day school. But the modernists would laugh if we called that modern music. In my opinion George Gershwin has made the only finished contribution to American music since Stephen Foster,” he said. A visit to Foster hall at Josiah K. Lilly's country place near Broad Ripple followed yesterday afternoon's session. The trips will be a daily feature of the conference. Henry S. Drinker, Philadelphia attorney who devotes his spare time to writing critical appreciations of Brahms, was scheduled to address the afternoon conference on “Amateurs and Music.” Dr. William Lowe Bryan, president of Indiana University, spoke on "Appreciation and Art Values.” The session at the Murat theater opened with an elementary festival chorus directed by Ralph White, music director of the Indianapolis public schools, and closed with selections by the Detroit All-City junior orchestra, conducted by William Engel. Tomorrow will be ‘‘Catholic Day.” A solemn high mass at 9 in SS. Peter and Paul Cathedral will be followed by a sermon by the Rev. Edwin V. Hoover, director of music of the archdiocese of Chicago. The Rt. Rev. Msgr. R. R. Noll will be celebrant of the mass. Choruses of 100 male and boy soprano voices and of 400 girls from Indianapolis academies will sing.

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