Indianapolis Times, Volume 47, Number 38, Indianapolis, Marion County, 24 April 1935 — Page 4

PAGE 4

PFAFF-HUGHEL ASSETS DROP TO MERE PITTANCE Creditors to Get Little or Nothing, Receiver Intimates. Creditors of PfafT Az Hughel, defunct investment firm, will receive only a small dsvjdcnd, if any, when the affairs of the company are finally concluded, Carl Wilde, Federal referee in bankruptcy, intimated yesterday following direct examination of Myron M. Hughel, company president. Mr Hughel, the only witness heard a? the hearing which was adjourned to May 8, answered questions fired at, him for three and a half hours by Mr. Wilde and various attorneys for creditors. Assets, placed at $575,000 in the original schedule filed at, the time the firm went into bankruptcy, dissipated quickly as Mr. Hughel recounted that many of them were not wholly free items. Blocks of stock, it was said, were pledged with banks or other sources and in one or two other instances notes had been discounted.

Explains Mining Shares Deal Mr. Hughel told of the appearance of shares of the Rough Creek Placer Mining Corp. on the firm's asset side. It wa.s disclosed that an agreement had been made between Pfaff Az Hughel and a Denver (Colo.) house whereby the latter was to take S4O 000 worth of American Brewing Corp. stock and pay 50 per cent of the cost in cash and the remainder in shares of the Rough Creek Placer Mining Corp. Mr. Hughe! tangled with attorneys for various creditors over certain transactions with customers of the firm. Under questioning by George O. Barnard, attorney, Mr. Hughel admitted that the firm had received $4237 from Dr. W. S. Coleman of Carthage for the purchase of 300 shares of Noblitt-Sparks Innustries stock, and that the money was deposited in the general fund hut no stock was delivered to Dr. Coleman. Attorneys for other creditors recounted somewhat similar transactions with the firm in which either cash or securities were tendered to be exchanged for other securities but the deals were never completed-. Hughel Blames Brewery The difficulties of Pfaff Az Hughel. which Mr. Hughel said, probably was insolvent since Oct. 7, were attributed to the firm's participation in the sale of American Brewing Corp. stock. This latter firm, incidentally, is now in the process of reorganization under the new Federal bankruptcy act. Mr. Hughel disclosed that his 1

J ilo|pnjl* upon **■ low. consistent j. ’ i hcrofnrc—- on I*mijj i>asy crcllit forms nI ■ jijjVm v: ” s ( "'j n vn " : '2'iist MO oxirs oust. Pay for your glasses j: : examined af Kays find " ,l ' l ' '”" Mrt "' alln - ~' f ‘ "'’ | f '" f 110 Opposite Indiana Theatre

14 Pounds .... / A q Damp Wash Ux —if sent Wednesday, Thursday, Friday or Saturday. (Additional Pounds, 4)oC a Pound.) Washed CLEAN • If you request it, we will iron and finish the SHIRTS in Damp Wash bundle for 10c each. WE FINISH THEM BY HAND! Window Shades • Cleaned • Re-Filled Lace Curtains should be ontrusted only to KILLI ii KJ responsible experts. Progress m ss Progress LAUNDRY drying. _ t *

CHURCH INSTRUCTOR

Mrs. H. S. Berhtolt The sixth annual missionary edueatior institute will open Monday at the First Baptist Church for church leaders of all denominations. Am mg the teachers of the seminar course to be offered is Mrs. H. S. Bechtolt, Chicago, secretary, mission study, Illinois synod Women's Missionary Society, United Lutheran Church.

20 MORE CYCLES FOR STATE POLICE APPROVED Gov. McNutt and Budget Committee Put O. K. on Proposal. Gov. Paul V. McNutt and the I state budget committee yesterday approved the immediate purchase of 20 motorcycles for state police. The motorcycles will be equipped with radios attuned to the nearest state nolice radio broadcasting unit, according to A1 G. Feeney, state safety director. firm at one time had approximately 25.000 shares of American Brewing Corp. stock which was pledged with the Chicago office of Clark, Childs A: Keech. members of the New York Stock Exchange. “Bad management of the ABC firm mjde their stock unsalable and unacceptable as collateral,” Mr. Hughel said, “and because of our inability to take the stock away from Clark, Childs Az Keech it was sold.” Mr. Hughel disclosed that all funds in the general fund of PfafT & Hughel were used to meet expenses or other obligations without regard to the source of such funds. Approximately 75 creditors were in attendance. A. R. C. Kipp, attorney, who has been acting as receiver for the firm since the voluntary petition in bankruptcy was filed April 3. was unanimously elected trustee in bankruptcy.

TIMES AVIATORS PREPARING FOR MODELjVENT Elimination Contest Will Be Held Here Saturday, May 4. Members of The Indianapolis Times Squadron of the ScrippsHoward Junior Aviator are hard at work preparing their models for the Transcontinental Derby elimination contest to be staged Satuiday, May 4. Times members will participate in an all-day event at Stout Field, Mars Hill, and the two winners at the end of the day’s flying will be the official representatives in the Scripps - Howard Transcontinental I Derby. Squadron Commander Herschel Kniglu, and his four Wing Commanders will meet tonight wtih The Times representatives to complete arrangements for the Mars Hill affair. Many valuable prizes will be offered to participants who finish well up in the eliminations. With the membership of The Times Squadron well over the 2000 mark, one of the largest model contests ever held in this vicinity is expected to result. Test flights by many members indicate that endurance records are due for a tumble.

CALL OUT FIREMEN TO CLIMB UP TREE—AND RESCUE ROBIN!

Fireman Edwin Kepner, Engine House 22, performed one of the strangest tasks in his career yesterday when he clambered 40 feet up a fire ladder into a tree to rescue, of all things, a robin. Although a tree is as natural to a robin as the ground is to a man, this robin had become tangled in a piece of string fastened to a limb. The rescue occurred on the Indiana^School for the Deaf grounds in the presence of a class of frantic kindergarten pupils.

Gone, but Not Forgotten

Automobiles reported to police as stolen belong to: Henry Severin. Golden Hill, Plymouth coupe. 80-254, from Central-av and Fa)', Creek. W. D. Johnson. 428 N. Oakland-av. Chrysler sedan. 120-125. from lOth-st and Jefferson-av. Harrv Rodgers. 26 E 14th-st. Apt. 208, Nash sedan. 123-476, from parking lot at 142!) N. Meridian-st.

BACK HOME AGAIN

Stolen automobiles recovered by police belong to: William Moran. 1203 N. Meridian-st. i Chevrolet coupe, found in front of 2233 H Berna"rd V Hoekstra. 21 W 16th-st Butck | coupe, found in rear of 1533 N. IllinoisSt Albert Hoxt, R. R. 6 Box 219. Studebaker sedan, found at 182a Madison-av. Red Cab Cos, Red Cab No. 242. found at I Allisonville-rd and Keystone-av. Many a Friend Recommends BLACK - DRAUGHT People who have taken Black- ! Draught naturally are enthusiastic about it because of the refreshing relief it has brought them. No wonder they urge others to try it! . . . Mrs. Joe G. Roberts, of Portersville. Ala., writes: “A friend recommended Black-Draught to me a long .time •Ijo, and it has proved its worth to me. i Black - J iraught is pood for constipation. I tind that taking Black-Draught prevents the bilious headaches which I used to have.” ... A purely vegetable medicine for relief of CONSTIPATION, BILIOUSNESS Advertisement. Cuticura Talcum Cooling Re freshing Medicated with fragrant, balsamic oils, Cul it*lira Talcum, dusted on after the bath or 88 a finishing touch to the toilet, is refreshing and comforting. Instantly this superfine talcum touches the akin these oils start their soothing, healing work and vottr 6kin is protected gjaingt irritation. Price 25c.

THE INDIANAPOLIS TIMES

r I VIM/'"' With CAPT. Ah WILLIAMS P“ I ill V"I Chief of Air Servie* I I I I X Serlpps-Howard Junior Aviator

THE last National Air Races demonstrated that the Army Air Corps knows its business and its military air drills. One of the finest pieces of showmanship I have ever witnessed was the formation flying of an 18-plane Army group under the command of Lieut. George Turtellou. Putting the finishing touches on a thrilling air drill, he lined up his 18 planes in six groups of three each—parallel to the grandstands—their motors turning over, brakes locked. Then, byx telephone command, the motors roared wide open . . . and with

WILY GARNER PUTS HUEY ON THE ROPES WITH HIS COMEBACK

By United Prrsx WASHINGTON, April 24.—Vice President John N. Garner today had won the honor of getting in the last word during the latest outbreak of hostilities between the Administration and Huey Long. Long projected himself into one of the furious tangles with which the Senate amuses itself from time to time to declare: "I want to make a point of order. I don’t know anything about the rules here, but we’re going to have a vote on this amendment anyhow, so why not just go ahead and vote.” Mr. Garner caused the session’s most lusty outburst of laughter by his comeback: “The Senator from Louisiana makes a point of order that he doesn't know anything about the rules. The chair sustains the point of order.” Noyes Again Heads A. P. By United Prefix NEW YORK. April 24.—Frank B. Noyes, publisher of the Washington Star, was re-elected president of the Associated Press at the association's annual organization meeting yesterday.

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brakes still locked . . . each shfp turnfed in its tracks and faced the grandstand. It was the nearest to “squads right” that I've seen executed by aircraft . . . and my, how the crowd appreciated it! And then along came my old shipmate, Lieutenant Commander Ralph Oftsie, with his 18-plane singleseater squadron. Ranged in perfect alignment, six groups of three planes each in V formation formed a huge V in the sky. ... A radio command to each ship, and the outside plane in each group of thre<j tipped its wings to one side while the leader flew straight. It was a strange, but grand sight! A perfect demonstration of air control . . . perfect execution, timed to the split second. And all commands were given by radio telephone. The day of visual signals between planes is past. . . . Radio telephone is the latest and surest method of interplane communication. All this wonderful formation flying is accomplished by teamwork. Mark what I said . . . teamwork. And this applies to the units of the Junior Aviator which are termed Flights. I would like all Junior Aviators to consider themselves formation pilots in their Flights. One single mistake by them, and the Flight unit is disorganized. . . . just as a formation of planes is disrupted if just one flier is careless or incompetent. QUESTION: Are there two Dewoitine companies in France? I’ve heard of Avions Dewoitine and Societe Aeronautique Dewoitine. There are not two companies. The Societe Aeronautique Dewoitine is the Paris office of the firm. The other is the plant.

A HEALTHY MOUTH IS A \ CLEAN MOUTH ■gM mmii EXTRACTION 50c VTmM , PEOPLE'S DENTISTS jr. eiiiis. Owens 36!$ West Washington Street

SAFETY BOARD RECEIVES BIDS ON Machines to Be Used in Curbing Wild Drivers on City's Streets. The Safety Board yesterday accepted the resignation of two veteran police officers and received bids for 10 motorcycles and five sidecars Bargain Week-End Trips Each Week-End Chicago $5.50 Leave on ant train 10:20 a. m. Friday to 1:55 a. m. Monday. Return limit Monday. Reduced round trip I’ullman fares. ' Next Saturday Cleveland $4.50 Leave 10:00 p. m. nr 10:50 p. m. Return on any train until 2:50 a. m. Monday. Coach service. Detroit $4.50 Toledo 4.00 Leave 10 oo p. m. Return on any train .Sunday. Coaeh service. Sandusky $4.00 Leave 10 00 p. m. Return Sunday evening. Coach Service. BIG FOUR ROUTE

to be used In promoting the efficiency of the police department in its careful driving campaign. Although the board can not award the bids until the City Council ap-

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APRIL: 24, 1035*

propriates the money, it was announced that the new equipment would cast 55252. The Council is expected to appropriate the sum at its meeting Monday night.