Indianapolis Times, Volume 47, Number 22, Indianapolis, Marion County, 5 April 1935 — Page 10

PAGE 10

MINTON BACKS BILL TO OUST HOLDING FIRMS Senator Approves Proposal as ‘Step in Right Direction/ BY DANIEL M. KIDVEY T iim Staff Writer WASHINGTON. April 5 —Holding companies were charged with being “a scheme worked out bark in 1901 to nullify the ani-trust laws" and the bill calling for their abolition in the utility field was termed “ a move In the right direction" today by Senator Sherman Minton. Utility stockholders in Indiana, as In all other states, have been aroused by the Industry to protest to their senators and congressmen against passage of the Rayburn holding company liquidation bill. In replying to one of these letters, Senator Minton cited the origin of the holding company idea and assured the writer that honest investments will be protected. "The bill contemplates the protection of investors and not their destruction," Senator Minton wrote.

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"If public utility holding company securities should suffer in mirk-t value as a result of .his legislation the issues of such securities are responsible and not the Congress of the United States." He listed five reasons for the measures enactment, as set forth in the preamble as follows: 1. The securities of such public utility holding companies, subsidiary companies and affiliates are sold to a iarge number of investors In different states. 2. Such investors can not obtain information necessary to appraise the financial position or earning power of such issuers because of the absence of uniform standard accounts. 3. Such securities are issued without the approval or consent of the states having jurisdiction over subsidiary public utility companies. 4. Such securities are often Issued upon the basis *of fictitious asset values and of paper profits from in-ter-company transactions and do not accurately reflect the sums Invested in underlying public utility properties. * 5. Such securities are often issued in anticipation of excessive revenues from subsidiaries which if realized would burden consumers, and the reduction of which, in the course of state regulation of subsidiary public utility companies, would cause loss to investors who have been led to believe that such revenues are a legitimate part of the Issuer’s income.

TRAFFIC SIGNAL ON STATE ROAD IS GIVEN TEST

Overhead Light May Be Put at Other Dangerous Crossings. The new overhead traffic light installed by the State Highway Commission at W. Washington and W. Morris-sts outside the city limits is being studied with a view toward putting in similar lights at other dangerous intersections in the state. The light is operated by push buttons on the north and south sides of Washington-st and halts all vehicular traffic for 23 seconds, allowing school children and pedestrians sufficient time to cross the 40-foot pavement. James D. Adams, chairman of the highway commission, announced today that if the light proves satisfactory others will be installed throughout the state. The signal is visible for one quarter of a mile. The signal has proved beneficial to many Ben Davis school children who cross the intersection daily, Mr. Adams said.

THE INDIANAPOLIS TIMES

News From Points in Indiana

By Time * Speelal LAFAYETTE. April s.—Purdue University has 520 students employed bF the Federal Emergency Relief Administration, a larger number than are employed in any of the other 37 colleges and universities in the state. The University of Notr-s Dame has the second largest number with 263 students employed by the Federal agency, and De Pauw is third with 211. Indiana college aid projects are divided Into four groups—maintenance projects, whichinclude work on school premises; clerical projects, research type projects and community projects, teaching or leading recreation groups in the city in which the college is located.

Kidnaper Held Insane Btf Time * Special LA PORTE. April 5. Adjudged insane in the circuit court here, Russell A. Knickelbein. 23, convicted abductor of a 17-year-old South Bend high school girl, was in the hospital for the criminal insane at the Indiana State prison today. He was captured in Dowagiac, Mich., after he had kidnaped Dorothea Emmons and held her captive in a stolen automobile. nun Actor Honored By Time* Special GREENCASTLE. April 5. Francis Lederer, movie actor, was made a member of the De Pauw University chapter of Duser Du. national theatrical society, in formal induction ceremonies held at the school. Recently Mr. Lederer addressed De Pauw students on “World Peace.” B B B Oppose Unit Changes By Time* Special TERRE HAUTE, April s.—Uniting to oppose any proposed legislation which would reorganize local governmental units in the state, county and township officials here are seeking to establish a strong lobby to work in the special session of the General Assembly. It has been indicated recently that when the special session is called, an effort will be made to introduce measures which would abolish the township unit of government and would consolidate many county offices. Many civic clubs in the state have fought to have such measures adopted for a number of years. B B B Jail Empty By Times Special HARTFORD CITY. April 5. Residents of Blackford County are so law abiding that the sheriff of this county doesn’t have any work to do. The jail here is empty again after Ralph Blizzard and Bernard Carville were released the other day after serving short sentences for drunkenness. B B B Educator Honored By Time* Special BLOOMINGTON, April s.—Prof. F. Lee Benns of the Indiana University history department has been elected a fellow of Great Britain's Royal Historical Society. Notification of the honor was made by Prof. H. H. Bellott of the University of London. Prof. Benns is the author of "Eu-

mm IE Pi py I^SbSHISv WHY HAVE 9,000,000 PEOPLE bought their cars on Thc gmac pian dcfmitci >- stands for (3 low costs and no hidden overcharges. j Ik Jj Ek 1 ML |L I —When you buy on the GMAC Plan TANARUS/? @ ■▼ I ml mm y ou cannot P a y more than you should! It pays to get all the facts. Simply becauseTiiiil buyers have discovered that there's a lot of difference in time payment plans. | i sound> convenienti low . cost way to What is that difference? |four own figures on this simple buy on time. Only dealers in General I Motors products can offer you the chart Will quickly show you: advantages of the GMAC Plan. J Car No. 1 Car No. 2 1 M l§k Mk /-1 on the on the ■ g | Your down payment (Trade-in allowance GMAC Plan ■ Plan m |i| I ill||| on your old car plus any cash paid). ■ || Ip § J|J § 2 Total of aii Monthly Payments. 1 General Motors Acceptance Corporation * Add items No. 1 and No. 2 and you get I OF INDIANA, Inc. J _ . B Architect* and Builders’ Building, 333 X. Penn.jlvanis St., Indpli. Phont LI-6-Wt the Total Time Price. - x General Motors cars are: 4 Subtract the Cash Delivered Price. 8 CHEVROLET • PONTIAC • CADILLAC 5 The result is the cost of financing and | BUICK • LASALLE * OLDS MOBILE Used cars of any make sold by GM dealers , CAREFULLY EXAMINE AND COMPARE INSURANCE I moy also be purchased on the GMAC Plan ★ COVERAGES; DOES THE PLAN INCLUDE: C Fire □ Theft □ Accidental Physical Damage to the car □ Including $ Deductible Collision? I (The nearest (.MAC branch olTirr or (.eneral Motor, dealer will .uppl. additional copies of the chart upon rrquest \ J&jH HHH Bfc. _ s' 1 ' •.*/S^j 1 B*" J B " ■£ . irehBWMML /* y L flajjjjjgS _ PS<; ft Jui i, y # sKBHHhI

rope Since 1914.” which is used as a college textbook in the United States and England. B B B Farmers Will Meet By Time* Special CRAiy FORDS VILLE April 5 Plans are being made for a district farm bureau meeting to be held here next Thursday. L. L. Needier, insurance director of the organization, is to be among the speakers. B B B Court Record Set By Time # Special NOBLESVILLE. April 5. The opening day of the April term of Hamilton Circuit Court was a record breaker, there being 53 cases before the court. B B B March Less Cold By Time* Special LEBANON. April s.—March. 1935, was a bit more pleasant than March, 1925. This fact is shown in the reports of Clyde O. Laughner, Whitestown weather observer. Ten years the March mercury slipped to 4 degrees below zero. Last month, however, the minimum was 22 above, the maximum, 74. B B B Postal Receipts Rise By Time* Special KOKOMO, April 5. —An increase of 18.3 per cent in postal receipts for the first quarter of 1935 over the same period in 1934 is reported by Postmaster Ernest M. Hunt today. Receipts for the first three months of this year amounted to $45,699.90. B B B Fewer Seek Contracts By Time* Special CRAWFORDSVILLE. April 5 A decrease of more than 300 in the number of farmers applying for corn-hog control contracts for 1935 is shown in a report released by local agricultural officials. A total of 1169 appplications have been received this year against 1480 received in 1934. . B B B Airport Site Leased By Time* Special COLUMBUS, April s.—An up-to-date municipal airport is promised here following the leasing of a large

New Location 237 E. Wash. St. Hoosier Furn. Cos.

tract of land cm the city's outskirts by Mayor John L. Hosea. Culminating a series of negotiations approved by the city council, officials have entered into a contract with Michael Wolf to lease the ground for five years. With the aid of Federal Emergency Relief Administration funds, they plan to develop a modem field. Indianapolis Tomorrow Home Show, all day. Indiana State Fairground, Manufacturers' Building. Alliance Francaise, luncheon, Washington. Beta Theta PI. luncheon, Board of Trade. Sigma Alpha Epsilon, luncheon, Columbia Club. Delta Delta Delta, luncheon and dance, Clavpool. MASONS TO SPONSOR CARD PARTY, DANCE Center Lodge to Give Entertainment for Families Tomorrow. Center Lodge 23, Free and Accepted Masons, will sponsor an entertainment for members and families in the auditorium of the Masonic Temple, Illinois and North-sts, tomorrow at 8. There will be dancing and cards after a theatrical program. and children will be entertained in the playroom on the third floor.

MaMER/CMAS THE ■ \j^4 ,h OFMY mu^a—an American ft j‘j |Jb American tastes and drinking customs. Insist wholly American Gin I COD

BARGAIN DAYS AT CITY LINKS GETAPPROVAL Park Board to Continue Practice Started Here Last Summer. Bargain days at municipal golf courses, with the exception of Cos- j

. —As Lovely as it is Perfect! 6-Diamond J&SSPjV BRIDAL PAIR fsSr* CHOICE OK YELLOW OR H Ny A tlirllllnjrly bpantifni nnw rins .old at an unheard of low price. 113 W. Washington St. I shall gladly reLincoln Hotel Bldg. fund the difference. I

—APRIL' 5. 1935

fin course, will be continued this year, as they were last summer, ore Mondays and Fridays. The decision was reached yesterday by the Park Board, upon recommendation of Harry L. Schopp. golf supervisor. Bargain days will begin after tho official opening. April 20. All courses except Coffin will be open to players beginning Saturday. Caddies at municipal courses will be dressed In uniform gray shirta and gray and white caps, with their numbers worked in the shirta and caps. The uniforms were adopted on the recommendation of Mr. Schopp.