Indianapolis Times, Volume 48, Number 59, Indianapolis, Marion County, 19 May 1936 — Page 6

PAGE 6

HOLDING FIRM MEASURE SOON TO FACE TEST June 15 Set for Argument on Much-Disputed Utility Law. BY RUTH FINNEY Ttmrs Special Writer WASHINGTON. May 19—On June 15, a little less than a year after its stormy passage through Congress, the holding company act will start its Journey through the Federal Courts. Arguments begin on that day in the test case brought by the government against the Electric Bond & Share Cos., which refused to register in compliance with the act. The case will be heard by Judge Mack of the United States Circuit Court of Appeals in New York. Sinapson, Thatcher & Bartlett represent the holding company; Thomas Day Thatcher, United States Solicitor General in the Hoover Administration, will appear for them. The government will be represented by Judge J. J. Burns, of the Securities and Exchange commission, and Robert H. Jackson, assistant attorney general. Headed for High Court For six months preliminary legal sparring has been in progress. The holding company filed a cross bill, and the government an answer. Attorneys have been working on stipulations. Seven other holding companies in the Electric Bond & Share group have been allowed to intervene. This is the case which will go eventually to the Supreme Court for a ruling on the act's constitutional - ity. A score or more of other cases, brought by companies, arc quiescent. The Supreme Court refused to give a ruling on the basis of the Edison Electric Institute’s case, in which its attorney, John W. Davis, appeared as counsel for a creditor of a bankrupt Baltimore holding company The government was not a party to this case. Indefinite Stay Granted Suits against the government were started by companies in half a dozen cities, but the courts sustained the government in its refusal to let itselx be sued outside the District of Columbia. Seven or eight companies sued in the district, but the government asked an indefinite stay pending determination of the Electric Bond and Share case, and the stay was granted. An appeal from this decision of the judge is pending in the Court of Appeals here. This is the only other action which might reach the Supreme Court ahead of the Bond and Share case. But a ruling on the stay would not cover constitutionality of the act. Meanwhile the Securities and Exchange Commissicn is proceeding with administration of the act as if all holding companies had registered instead of only a dozen or so. Companies that did register, of which the largest is Middle West Utilities, formerly of the Insull group, have taken what the SEC describes as a “most helpful attitude,” advising with commissioners on preparation of regulations. Other Requirements of Rules Regulations have been formulated governing the establishment of service companies to serve utilities, issuance of new securities and mergers. The regulations permit establishment of a mutual, non-profit service company, or of profit-mak-ing companies under certain conditions. Regulations covering issuance of securities call for only a few additional requirements in addition to those specified for registration of securities of any company. The SEC has also promulgated rules covering appearance of holding company officials before it and before Congress, and the Federal Power Commission, as required by the act. Officials are required to state the names of their employers, the character of their employment and the amount of their compensation. NEW FALL CREEK SPAN IS TO BE DEDICATED Ceremony Will Be Arranged by Loral Civic Groups Civic organizations are to hold a dedicatory program soon for thd new bridge at 38th-st and Fall Creek, which has just been opened to traffic. The $324,138 span, built under supervision of the State Highway Department, eliminates a dangerous jog which formerly existed. Traffic signals have been placed on the west side of the bridge. On the east side flasher signals warn motorists of railway and interurban tracks. Edward F. Smith, Indianapolis, was the contractor. OXNAM’S FIRST SERMON AS BISHOP DUE SUNDAY Scheduled to Speak at Roberts Park M. E. Church. Dr. G. Bromley Oxnam, De Pauw University president, is to deliver his first sermon as bishop of the Methodist Episcopal Church at 7:30 Sunday night at the Roberts Park M. E. Church, the Rev. Charles T. Alexander, pastor, said today. Both Mr. Alexander and Jane Johnson Burroughs, minister of music, are De Pauw alumni.

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ARRANGES PARTY

Edward F. Hofstatter (above) is aiding in the arrangements for the Hayward Barcus Post bowery party at 8:30 tonight at the Riviera Cluo.

Elkhart Pupil Killed By United Press ELKHART, Ind., May. 19—Injuries suffered last night when the automobile he was driving turned over on loose gravel, were fatal today tc John Stahl, 18-year-old high school student.

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POLICE IMPOUND 1025 STRAYS IN DRIVEON DO6S Few Redeemed by Owners, Official Says; Roundup to Continue. With 225 persons reported bitten by dogs since Jan. 2, police today were pushing their drive to rid the city of stray dogs on which taxes have not been paid. Since the drive started April 21, a total of 1025 such animals have been impounded. This figure, as of May 15, represents an average capture of 32 a day. Only 10 per cent of the animals have been redeemed by owners, Dr. Elizabeth Conger, pound superintendent, said. “We use only the most humane method to destroy the unredeemed ones —chloroform,” Dr. Conger said. “It’s painless and quick.” Taken to Dog Pound Police action to rid the city of stray dogs before hot weather sets in, when animals are more sus-

- THE INDIANAPOLIS TIMES;

ceptible to rabies, was inspired by a high total of dog-bite victims a year ago. To facilitate rounding up strays, the city has been divided into four sections, based on the intersection of Meridian and Washington-sts. One truck, in charge o f a police officer who is assisted jy a WPA employe, is assigned to each section. Captured dogs are taken to the city pound in Massachusetts-av and remain there five days. In this time owners have an opportunity to redeem them. A payment of $2, the fee charged for a dog license, is the only requirement for redemption. SAVES SILVER DOLLARS Man Pays for New Auto With 459 of Them. By United Press MEMPHIS, Tenn., May 19. When Millard Archer bought anew automobile here he paid for it with 459 silver dollars. Archer, a rent collector, saved every silver dollar he took in during the last two years. He accumulated 1100 coins.

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PLAY SUPPRESSION fUYEP BY DREISER Author Says Ban on New Ideas ‘Deadly for Nation/ Times Special LAFAYETTE. Ind., May 19.“Suppression of free expression of new ideas in plays and books is deadly for the nation.” Theodore Dreiser, the author, told an audience of more than 400 attending the annual Purdue University literary banquet last night. The noted writer, a native of Terre Haute, deplored the recent action of various American cities in suppressing “Tobacco Road,” “Within the Gates,” and other plays. He said that an author's success is based on hard work and accuracy in observing the life about him. Be-

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fore writing “An American Tragedy” he investigated 17 similar cases, he said. Winners of various literary awards offered Purdue students were announced at conclusion of the program. Leonard Horwitz, Lafayette. won the George Ade cup for the best short story; a. A. Radkey, Logansport, the H. G. Reisner cup for the best short play, and R. S. Blocker, Huntington, the David E. Ross cup for the best poem. A SIOO cash prize for the best library accumulated by a senior went to J. A. Coombs, New Albany, while J. N. Davis, Shelbyville, won first prize for the best story based on an historical event.

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