Indianapolis Times, Volume 47, Number 195, Indianapolis, Marion County, 24 October 1935 — Page 9

OCT. 24,1935.

RADICALS HELD ANSWERED BY SECURITY LAW William Baum of Real Silk Speaks at Meeting of Accountants. An answer to the demands of •'radicals'’ for correction of social evils and maladjustments is seen in the Social Security Act by William Baum, Real Silk Hosiery Mills personnel director. Mr. Baum spoke on “Social Security” before more than 80 Indianapolis chapter members of the National Association of Cost Accountants last night in the Washington. Mr. Baum described the act as “one of ihe most important laws in the history of this country and the one outstanding piece of legislation of the present administration which is generally favored and which will be remembered as a great constructive force in the progress of America.” Profits F.mlangrrrtl Predicting that nearly all states will enact unemployment compensation laws within a short time, Mr. Baum admitted that it is only natural that organized business should oppose legislation of this kind. “The business man must make profits and this task is so difficult that he objects to any cost increase. Fortunately, he has found by practical experience that it pays in the long run to eliminate social evils, that sweat-shop conditions, cheap labor, accidents, sickness and labor unrest are the costliest forms of inefficiency,” he said. Policy Considered Wise “There has been a growing conviction among enlightened employers that the removal of the worker’s fear and anxiety over possible exposure to the hazards of old age, death and unemployment is a wise business policy. "Business always has to foot the bill. Philanthropy, which endows hospitals and supports clinics; Community Chests which contribute to relieve unemployed and destitute families; charity societies which support (he aged—all of these resources come out of business. The Social Security Art will make the process of supplying relief more direct, more prompt, more assured, more self-respecting, more businesslike. “In short, it sets up against industry and business a direct charge for a social hazard which is more adequate and less precarious than voluntary measures can ever provide.” • BONDS USED TO MEET CONSTRUCTION COSTS Snow-Butler Trust Securities Cashed by Mayor to Aid Hospital. Mayor Korn has cashed $20,000 worth of bonds, held by the city under the Snow-Butler trust, to meet a part of construction costs of Flower Mission Tuberculosis Hospital. These funds, the mayor explained, do not relieve the problem of operating the City Hospital unit after its completion. No provision has been made for an estimated SIOO.000 needed to equip and operate the institution for one year. SUIT FACED BY CHURCH Bedford Woman Injured When Window Fell During Services. Time* Special BEDFORD, Ind., Oct. 24.—Members of the Pentecost Mission, an unincorporated church here, are being sued for SSOOO. A complaint, filed by Bertha Cain, seeks that sum for injuries which she declares were sustained when a window in the church building fell on her during services Sept. 1.

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BEGIN HERE TODAY Jan Dunn. *<*cr<*'arv to Donald Mon'2uo laavor, delays hor answer when Bobby l/illare vouns automobile salesman, asks Jean to marrv him. At The Golden Feather nish club Jean meets Sandy Harkins, whose business conleetion i vague, she also meets Larry Glenn, feelers! agent. I.arry is tryin? to ioeste Wlr.gy lewis. Bobby arranges to -*ll some bonds for Lewis. He sells them to Jean's employer. A fw days later Sandy learns police are looking for him in connection with a robbery He confide- this to Jean and she goes uith him to poilce headnuar’ers to establish an alibi for him at tne time of the holdup Bandy asks Jean to marry him. She •el:* him she u zoinc to her home town for a vacation and will give him an answer when she returns. NOW GO ON WITH THE STOHV CHAPTER FIFTEEN (Continued) He called the number of Dover’s largest bank, and when he got it he "Let me talk to Mr. Hughes in the bond department.” And when Mr. Hughes got on the wire he said, Hughes—this is Brt Thompson. I’ve got some bonds here and I think there’s something phony about ’em somewhere. Can you give me a report on ’em? "Okay. Here they are. Five per cent gold bonds of the Atlas fc Iron River Railroad, issued 1928, SSOO denomination. Serial numbers 13550 to 13589, inclusive. Will you check on ’em and let me know? Thanks.” He hung up and turned to the man who sat across the desk. That man said, "What’s the matter? Strike something?” "I don’t know,” said Thompson. "Welsh kept his securities in that other box, over at the First National. I'm just kind of curious to why he had these salted away here, that’s all.” a u a A few minutes later his phone rang. He answered, said, “Yeah . . . yeah, I see. . . . Thanks a lot,” and hung up. He turned to his colleague and tapped the desk softly with a little sheaf of bonds. "Well,” he said, ”1 know' something.” “So?” "Yeah. These bonds here were stolen from (he National Bank of Neola—you know, that little town downstate?—about a month and a half ago in a holdup.” The other man raised his eyebrow's. "No trace of ’em since,” continued Thompson. "Here they are, tucked away in Welsh’s safety deposit box.” "Well,” said the other, "I expect you’d better give the police a buzz, hadn't you?” Thompson nodded. Then he happened to think of something. "Say.” he said, “the Federal men have been working on that case. It’s supposed to be one of Red Jackson’s robberies. I remember reading about it. I believe I'll give their local office a call. ’

AND so, half an hour later, Larry Glenn came into the office, looked at the bonds, made notes, and heard the story. And half an hour after that he was back in his own office, taking counsel w’ith Mike Hagan, sergeant in the Dover detective force. “Who was this Welsh, anyway?” he asked. “Who'cl he be apt to be dealing wuth that’d slip him a package like this?” “Most anybody. He was a fixer, see -a high-grade fixer. He collected for”—Mike gulped and reddened slightly—“for the police big shots. Any racketeer in Dover might’ve handed them to him.” Larry looked at the slip of paper on which he had written the description of the bonds. “Hot hands,” he said meditatively. “Good as can be, eventually, but poison to put on the market right now’. Did you ever hear that Welsh acted as a fence for securities of this kind?” Hagan shook his head. “That wasn't his line,” he said. “I'd say he probably got ’em from some racketeer or other who happened to be stuck with ’em. Knuckles had contacts all around. He wouldn’t have expected to keep ’em very long. Most likely he just salted 'em away here until he got a chance to shove them through some regular fence ” “Then he probably got them just recently?”

“Undoubtedly. I'd say within the week, most likely.” Larry looked thoughtfully at the sheet of paper. “That’s a pretty good-sized wad,” he said at last. “These bonds have a face value of $14,500. What's more, they’re within a few- points of par right now. Unless the man who gave them to him was pretty hard pressed, they must have changed hands at within a couple of thousand or so of their face value.” He paused, and there was a little silence. Then he went on': “Listen, Mike. Have you got any kind of an idea of any racketeer here in Dover who might have put that big a deal through with Knuckles Welsh during the last week or 10 days? Mike frowned throughtfully and looked at the ceiling, rubbing his chin with stubby fingers. “It’s hard to tell,” he said finally. “They might have been part of some regular, periodic payment. I mean, take a bird who’s at the head of some syndicate or other, and who’s down to pay Knuckles 10 grand a month. These bonds might have been used for one month payment. On (he other hand, of course, they might have represented some separate deal.” “But the one thing we can be confident of,”’ said Larry, “is that Welsh didn't act as the fence?” “Not him. He had a finger in pretty near everything, but he was never a fence.” “So that he got the bends as a payment for something, and didn't just buy them?” a r a HAGAN nodded. There was another silence, during which the detective continued to rub his chin thoughtfully. At last he leaned back in his chair and put his hands behind his head. “Here’s the only hunch I got, and it’s nothing more than a hunch,” - he said. “About a week ago, I hear a fellow is opening anew string of bookie joints through the east side. This fellow is a policy operator—you know, sells those ‘numbers’ tickets —and he’s starting to branch out in the gambling racket. I’m not on that detail, so I don’t know much about it, but one of the boys tells me this fellow gets wired in with the city administration and isn’t bothered. “Anyhow, the take on a thing like (hat’d be pretty big; and if he got himself wired in, he most likely did it through Knuckles Welsh, because Knuckles was the bird to see on things like that.” Larry thought for a minute. “Who is this bird?” he asked. “Name’s Boyd—Sonny Boyd, they call him. He’s been in the policy

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THE INDIANAPOLIS TIMES

racket for years. Oh, and by the way—l have heard that he’ll handle hot securities now and then, too.” Larry was already getting up and reaching for his hat. “How’s for taking me out to see him?” he asked. Hagan grinned. “Sure thing. The guy’s off my beat, and” —he scowled angrily—“he’s one of those birds it isn’t, healthy for a city copper to touch. . . . Yeah, come along. I’d like nothing better than to see somebody make him sweat a little. Somebody he couldn’t call off by giving some politician a buzz.” They went down to the street and got into Larry's cs. Twenty minutes’ driving brought them to an unobtrusive little cigar store on one of the crowded streets of Dover's East Side. Hagan shouldered his way past the little knot of idlers in the store and led Larry into a poolroom at the rear. A shallow' man in shirtsleeves and a green eyeshade came up to him. “Hello, Marty,” said Hagan.. “Take us in to see Sonny, will you? I got a friend here wants to make him a proposition.”

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So they were shown into the private office of the notorious Sonny Boyd. CHAPTER SIXTEEN SONNY BOYD was a slight, nervous little man who seemed to be eternally apprehensive. He gave them a flutterv little smile, said, “Hello, Mike,” to Hagan, and nodded as Hagan mumbled Larry’s name. Then he sat down behind a clut- ! tered de.sk, and gestured toward a i couple of straight-backed, canebottomed chairs. As they took their seats he looked at them with mingled suspicion and expectancy. r ’. the way to his place, Hagan had told Larry, “Sonny Boyd thinks he’s a big operator, and maybe he is. but he's a yellow dog underneath. He can’t take it and he never could. He’d rat quick as a wink, if he thought anybody had anything on him.” Larry thought of this now' as he looked at the little man on the other side of the desk. He decided that a bluff w'ould do no harm. “Mr. Boyd,” he said pleasantly, “I represent the Division of Investigation of the Department of Justice.” (To Be Continued)

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