Indianapolis Times, Indianapolis, Marion County, 1 July 1936 — Page 1

FORECAST: Thundershowers tonighutiomortow. morning, followed by fair weather}

PER CENT BANK DIVIDEND ORDERED HERE

Payment to Be Distributed by Defunct Farmers Trust Co. |

| AMOUNTS TO $154,000

Was Obtained Outside Company’s Assets, Paper Shows.

i = A 22 per cent dividend, amounting | fo $154,000, was ordered paid to _ 427 depositors of the Farmers Trust + ©o. today by Superior Judge Clar-

ence E. Weis Jills snanution was | closed five years a | The entire dividend represents

| money obtained outside the company’s assets, according to the court ; order. the total amount, $52,500 | represepts settlements of suits © brought by Boyd M. Ralston, re- | “celver/ against officers of the in- | stitution on their bonds. Other ‘money, totaling $57,000, was paid in | by stockholders under the double . Mability law, the court order states. The remainder of the dividend was made available to depositors . when Charles N. Williams, former ident of the institution, waived

right to participate as a creditor

on his deposits. Payment of the dividend was or=glered effective immediately | by Judge Weir. The 22 per cent payment brings’'the total dividend paid since the institution closed to 47 . | _per cent. Previous dividends totaled - $160,609, court records show. ~~ Settlement of the suits against pfiicers and stockholders was agreed

i upon by a majority of depositors

and creditors through letters sent out by Mr. Ralston. Judge Weir said, “The 22 per . gent dividend was the largest he + ever heard of on money Shiaihen | from _ stockholders and officers.”

{TWO INDIANA BANKS |

T0 MAKE PA PAYMENTS |

Closed. Institations Ordered Reimburse Creditors.

(By United Press . COLUMBIA CITY,’ nd. July 1a ~Payment of dividends to creditors two local ba OW in es guidation, ay by Judge Rob R. Me-

agny. The Columbia State Bank is ‘to y a 19 per cent dividend, totaling 21,000. The Federal Deposit InSupance Corp. is to receive $97,000

} . Northam, receiver of the vident: Trust Co, is to pay a 6 cent dividend, totaling $25,000. 3 bank has distributed, Sith this § payment, 21 per cent.

TOCKS TRREGULARLY HIGHER ON MARKET

1 | Volgme Remains Unchanged; Steel, ¢ Motor Shares Mixed.

: Lay nited Press A + wh YORK, July 1.—Stocks were t larly higher early this after_knoon- “without pickup in “volume. “1 8teel and automobile issues were mixed. In the former, U, 8. Steel ‘was at 60, off %, and Youngstown Sheet and Tube 612, up 4. In the Jatter Chrysler lost 4 to 112%, and General Motors gained % to 663%. Westinghouse Electric ran up 3

3 points to 121, "WHEAT PRICES JUMP _ IN CHICAGO TRADING

Grain Makes Increase of 3% to 3% Cents Today.

By United Presa CHICAGO, July 1.—Wheat prices Jumped 3% to 34 cents higher on ithe Chicago Board of Trade today! y and September corn. futures jo. skyrocketed, attaining new high 1s for the season. Heavy buying was generated by e United States government crop port which said the drought in the orthwest was worse than in 1934.

0G PRICES REGISTER

gi of

10 TO 25-CENT DROP

rd Slant of More Than Week

Jos hoes at the Indianapolis

was checked toTE es deemed Troms 100 senis. had been in progress for

org than a week. “Pigs less than 180 unds were 25 cents lower. Weights m 160 to 200 pounds showed loss 20. cents a hundredweight. 'eights brought 10 cents less.

AKING FIRM AGENT $ ROBBED OF $5000

. VOLUME 48—NUMBER 96

The trend toward higher

Gnats to You

City motorists today were searching for a new {ype of gun to ward off night marauders’ who swarm upon their running-boards and windshields. The gun should have a spray attachment capable

of gassing the roadside gangs —of gnats and bugs—that have been attacking evening joyriders. Frank N. Wallace, state entomologist, said the insects were. brought out by yesterday’s rain. Mr. Wallace called the windshield pest “lice” and ‘fungus gnats.”

STEEL OFFICIAL FORESEES GAIN

Giant Strip-Sheet Mill Is Opened by Bethlehem at Lackawanna.

BY DAVID DIETZ Scripps-Howard Science Editor

LACKAWANNA, N. Y., July 1.— An expanding market for sheet steel was predicted today by Eugene Grace, president of the Bethlehem

Steel Corp. following the formal opening of the company’s $20,000,000 continuous strip-sheet mill. While the new mill reduces the amount of labor needed to produce a given quantity of steel, Mr. Grace revealed that the company’s expansion has been such that the Lackawanna plant now employs 2000 more men than the high-average force employed in 1929. The new mill symbolizes the changing market for steel. Today's best’ and fastest increasing customers for steel are automobile manufacturers and housewives. The most important single branch of steel making is no longer structural shapes, heavy castings, or steel formed into large pieces, but the production of flat-rolled steel products, three-eighths of an inch thick

and less, much of it used for such

small objects as cans and toys. The continuous strip-sheet mill is designed to meet these new demands. In a group which included Mr. Grace and Charles M. Schwab, 75-year-old chairman of Bethlehem Steel, I inspected the new mill. © A white-hot slab of steel, about the size of a piece of stone flagging such 4s is used for - sidewalks, is roled by ¢g ic rolling pins into a

sheet 72 inches wide and a fraction {

of an ber

STEEL LABOR FEUD "Lies We dwn =

Industry - Repeats Intention to Keep Open Shap.

By United Press PITTSBURGH, July 1.—The 72hour battle of words between the $5,000,000,000 steel industry snd labor forces endeavoring to organize £00,000 steel workers, diminished to a whisper today. An ominous calm was broken only by a reiteration of the industry’s determination to maintain the open shop. A statement issued Sunday by the American Iron and Steel Institute appeared today as a full page newspaper advertisement in Pittsburgh, New York and in other steel centers. Organizers pressed forward methodically in‘ the $500,000 drive, financed by John L. Lewis’ Committee for Industrial Forty-two trained organizers, half supplied by Lewis’ United Mine Workers’ Union, have been dispatched into the Northeastern steel districts, the United Press learned.

BERKMAN, NOTORIOUS

RADICAL CHIEF, DEAD

Deported With Emma Goldman by United States in 1922.

By United Press CHICAGO, July 1—Alexander Berkman, notorious radical deported with Emma Goldman to Russia in 1922, ‘died today at San Tropaz, France, according to a cabiegram received by Dr. Ben Reitman from Miss Goldman. Miss Goldman had been caring for Berkman during his long illness. Among Berkman's exploits was an aftack upon Henry Frick, steel magnate. Berkman shot Frick after the famous Homestead riots in Pennsylvania in 1892 when guards killed a number of strikers. Frick recovered.

1.11 inches.

Organization..

RANISMEEDED

FOR CORN BUT

INOT FOR WHEAT

Showers Are: Predicted for Marion County by Weather Bureau.

DRY AREAS MAY BENEFIT

Precipitation Here in June 71 Inch Below # Normal Fall.

Indiana and Marion County farmers want their rain when they

want it. Today those farmers who were cutting or threshing wheat were hoping for fairly dry weather while neighbors with corn crops prayed for more rain. In the meantime, J. H. Armington, United States meteorologist, forecast thundershowers for Marion County tonight with little change in temperature. State dry areas ‘also may receive additional rainfall. Good rains soaked up crop lands near Scottsburg and Paoli, Mr. Armington reported. He said Scottsburg received 1:14 inches and Paoli Evansville, suffering from drought, reported .48 inches.

Rainfall Below Normal

“The ‘good rains, even down to Evansville’s almost one-half inch, will serve to hold crops for a few days. More rain is needed. The state’s precipitdtion for June is to be below normal,” Mr. Armington said. Marion County’s rainfall was estimated by Mr. Armington at .71 inches below normal for June with an estimated 2.91 inches rainfall. The temperatures today are expected to be near the 80s, he said. The lowest temperature, 63, was carded at 6 a. m. today. The state and county's wheat crops are made and on the way to the granaries, agricultural agents said. County Agent Horace Abbott said that the county yield should be about 200,000 bushels, with an estimated valuation of $200,000. “This is slightly less than last year’s wheat crop. All county wheat should be cut by the end of the week,” he said. 3 Yesterday's Tains pioved of little} benef to. orn

Crops ay. sue

“We're in the Army now,” chorused the first recruits who arrived at Fort Harrison today for the . opening of the annual July C. M. T. C. camp tomor-

row.

Four high school boys from Wheeling, W. Va., are pictured above as they headed for headquarters. Left to right, they are George Saseen, Frank Kannan,

~ WEDNESDAY, JULY 1, 1936

Samuel Thomas and Paul Parresol. recruits from the Fifth Corps Area, gomprising Indiana, Kentucky, Ohio and West Virginia, were

at a Indianapolis, Wome gor oven :

WE'RE IN THE ARMY NOW _THENE SONG. OF 2000

About 2000

expected to arrive at the fort by tonight.

Army trucks started nfeeting trains and busses early this morning and: kept up regular trips. A staff of 17 officers is in charge of the camp.

TEXAS FLOODS

CLAIM 5 LIVES

Dried-Up Streams Become " Torrents in Wake of Cloudbursts.

By United Press DALLAS, Tex., July 1—Five per-

sons were dead and six were missing:

today as unexpected cloudbursts converted south Texas streams from drought-shriveled revulets into roaring torrents. Three bodies ‘were recovered from Wood Creek near San Marcos after the house in which Antonio Gonzales and his four children and Mrs. Jesus Garza and her three children were living was swept away in the flood. The other six ocnts of the house were missing.

tley Teague, 10, . Fort Worth, al

and. gn unidentified lat?

y yay ele: rains within the next two weeks the [Bld]

corn, clover, hay and alfalfa crops may ‘suffer severely,” he said. Wheat, he said, is better filled but light, with more straw than usual. Crops were benefited. materially in southern: Indiana by rainfall. The drought areas in northwestern and southeastern Indiana also received some benefit from yesterday’s rain. Farmers in all sectors, however, sajd that more rain was needed if corn crops and pasturage are to be prevented from being burned out.

JUNE DROUGHT COST EXCEEDS 1934 LOSS

Damage Two Years Ago Was in July and August, Report Says.

By United Press WASHINGTON, July 1.—Need for rain in drought-stricken regions is more widespread than in either 1930 or 1934, the Weather Bureau reported today in its weekly crop bulletin. : The Weather Bureau said that in 1930 and 1934 the situation was “not nearly so critical” at the end of June as it is today. In both previous droughts, the situation became more ‘critical and caused greatest damage during July and August, the report said. Bureau of Agricultural Economics reported, meanwhile, that the world wheat supply is the smallest in nine years—635,000,000 bushels on July 1 as compared to 856,000,000 bushels last year and 1,109,000,000 bushels two years ago.

ACTION IS DELAYED ON INDIANA PROJECT

Beech Grove Low Cost Housing Plan May Not Materialize. Times Special ; WASHINGTON, July 1.—That the proposed $2,500,000 low-cost housing project for Beech Grove

further - action is being taken in ibe uatier at thig time:

Ragweed Losing I ts Grip,

Hay Fever

Marion County hay fever sufferers were offered cheering news today

by Dr. Herman G. Morgan, Health | ™ | sweet. clover appears to be smother- | ing the rag weed and similar irri- | vide

“The ragweed in & number o Io-

Victims Told |=

of ®exico. north of Corpus Christi. Hindreds of persons still were homeless in Piedras Negras, Mexico, just across the border from Eagle |

burst flooded lowlands of arroyos emptying into the Rio Grande. Gonzales, where: 10 inches of rain fell Tuesday night, awoke today to find the Guadalupe River surging several feét deep in the streets of the town and rising rapidly. Al

. | second cloudburst shortly before 9

a. m. added several inches more of rainfall. The Guadalupe already had reached a depth of 33 feet— five above flood stage.

br ide

SIGNAL THE MAN BEHIND UR two hands are ‘seldom more useful than when driving an gutomobile. But aside from the mechanics of driving, we can’ use ‘them to prevent accidents, if we know how to do it. 3 ‘Let's remember that the man in the car behind us can not: know

wing we intend to do EIS Ne.

were | t :

{ Tax Adjustment in Septe

‘| pay-as-you-go plan for the erection (Tu

GAMBLING STOPPED,

School Budget Increased;

Estimate Adopted by Board Is $1,096,412 Higher Than This Year. .

Undertaking a “pay-as-you-go” plan for its new building program, the School Board last night adopted a budget tota $7,330,642.50. This is: $1,096,412 more than the total appropriation for the present year. Based on last year's property valuation, the increase would mean an ‘increase of 22 cents in the tax levy over this year on each $100. The present levy is 89 cents. The principal item in the 19361937 budget is an added $875,000 for

the rection of new school bulidudget incl each” child for each semester. There are ‘children in

The new ¢ budget pecifically allocates $450,000 for a new Irvington high school building, $350,00 for an. addition to the George Washington High School, and $75,000 for an addition to School 26, at 1301 E. 16th-

Pass. Tex. after a 16-inch cloud-|Sk The addition to School 25 is in-

tended to relieve crowded conditions

| at Crispus Attucks High School.

A. B. Good ,school business director, said the budget will go before the Marion County Board of mber. He explained that the budget, in its ‘present form, is a budget of disbursements only, and does not include ‘the . tax levy because this year’s property valuation has not been completed. “By the strictest economies in all departments, which permitted reductions in appropriations for main-

{temance, fixed charges and fund

transfers, the board has kept the total increase down to a minimum,” Carl Wilde, board president, said.

“Question Up to Citizens”

“The proposed expenditures which the school city contemplates will place before the citizens of Indian-

Re the question of whether they |’

will s rt the board in its efforts

{to remedy intolerable housing con-

ditions by adopting a compromise rn to Page Three)

POLIGE SQUADS SAY

Underwood Slated to Face Court Again Today.

Police said today all sambline activities here have ‘ceased.

Text-Ren t Plan Adop ted

Book System to Include Four More Grades; Big ‘Savings Predicted.

More than $75,000 a year will. be saved the parents of Indianapolis school children by a textbook rental plan adopted by the Board of School Commissioners last night, Paul C. Stetson, predicted. The rental plan has been extended to grades 3, 4, 5 and 6. It has been in use for the seventh and eighth grades for {wo years. Under the system the parent is to ‘pay 15 cents. for the use of books for

dd $2.50 for each child each year, it was estimated. Mr. Stetson said that the plan can be established at a small initial cost. Within two years the fund would become selfsustaining from the receipts of the rental fee, he added. . He said that advantages of the plan include economy to the parent, convenience for the pupils, availability of a greater variety of books and supplementary references

and the fact that the books will be ‘ready for the pupils on the opening

day of the school term so-that work may be started promptly. - Handwriting manuals and paints are to be furnished pupils in Grades 3 and 6 without additional charge. 1t is expected that after ‘ (Turn to Page Three)

House of

Shadows

By Ilda Gleason

CHAPTER ONE 'T was a week: after her father’s funeral. Claire Fosdick stood in the luxuriously furnished library

{| and looked about her with a shud-

der. Almost as though she half expected some menacing horror to iy out from the familiar shadows and clutch her. Then she jerked ‘herself together with an ef-

Be there, by his favorite lamp,

his body had been found, slumped

forward’ in an unnatural, twisted

position. She could see it yet, though she t

superintendent, |

PRICE THREE CENTS

Ul 20PE FACING ‘CRISIS, FRANC

TELLS

LEAG

Situation Equivalent. to ont. to That Prevailing in 1914, Premier Blum Declares in Startling Address.

DECRIES ARMS RACE, SCORES NAZIS

Eden Joins Plea Not tol Recognize Ttaly’ g Conquest of Ethiopia and Urges Reformation of Covenant.

By United Press

~~ GENEVA, July 1.—Anthony Eden, British foreign secs retary, asked the assembly of the League of Nations today

to refuse to recognize Italy’s conquest of Ethiopia.

At the

same time, he urged the dropping of sanctions against Italy, Because of the failure of the League machinery to halt

| the war in Ethiopia, Capt. Eden suggested that a reform of

the covenant might be considered usefully at the September .

assembly.

”

Capt. Eden’s address followed one by Premier Leon : Blum of France, who, admitting the League's failure in: the

ARTIFICIAL GAS CHEAPER, CLAIM

Expert Estimates Natural Fuel Cost Here at - 3 Cents Higher.

Contention of the Citizens Gas and Coke Utility that natural gas, if retailed in Indianapolis, would no longer be cheaper than manufactured gas, is supported today in a communication from W. E. Stein-

wee, Cleveland consulting engineer; g to Thomas L. Kemp, general er of the utility,

Mr. Steinwedell, who last December made: the’ orginal survey based on opera 0 Citizens Gas. the first

by | and Coke Utility for

onihs rs 1935, has reinvestigates 8 “$s new findings are based on Hil. “ia tow which Mr. Kemp said have reduced production costs for: the first three months of this year below those included in the original survey. Equivalent cost of natural gas, on a basis of 750 British thermal units per 1000 cubic feet, would be 76 cents, the letter stated. This contrasts with the total cost of manufactured gas deliveréd under pres‘ent, conditions of 72 and three-tenths cents, The complete text of Mr. Steinwedell’'s letter, addressed to Mr. Kemp, follows: “Your letter with copy of a paper, ‘Factors for Consideration,’ by Mr. J. D. Angus, are received, and I appreciate your courtesy in advising me regarding the exceptionally fine showing you have made in the reduction of the cost of manufactured gas, due fo increased sales, operating economies and the un-

anticipated market for metallurgi- |

(Turn to Page Nine)

FINANCIER MORGAN ILL WITH NEURITIS

Returns Home by Special Train, Ambulance.

By United Press GLEN COVE, N. Y., July 1—-J. P. Morgan returned to his baronial estate in an ambulance today. Stricken with neuritis while visiting his sister's estate at West Manchester, Mass., the financier arrived at Mill Neck in a private car drawn by a chartered locomotive. He was carried in a wheel chair to the station platform, and lifted to the ambulance that took him to his The financier’s two sons, Julius Spencer Morgan and Henry S. Morgan, were at the Mill Neck station to meet him.

in. ils boarded the train. A few minutes later,

’ Henry emerged, smiling. a he’s feeling excellent,” spirits.” :

“He's in he Duce’s Davghtr Improves By. United Press #

Ethiopian affair, suggested that Europe has returned to a situation similar to that of 1914.

He asked for prompt action to preserve peace, and declared omis nously that France would not re= main passive if her soil or that of her allies is invaded. t Stresses Desire for: Peace Eden informed the assembly that Britain’s special Mediterranean obs ligations resulting from the Italiane Ethiopian war would not be discon: tinued with the dropping of sancs tions until the “temporary uncers tainty” is over. He referred to t mutual assistance agreements be= tween Britain .and various Mediter. ranean countries, except Italy.

“Our desire for peace. does nob men that we will remain silent before force or recognize victories obtatned by force, he said. * Blum begged that the . Lea | ston ly . réinforce co security 4 disarmament, He was { to the rostrum : by Galileo Solis of Panama who urged a world conference to con= sider formation of a new League on the grounds that the present organe ization is not satisfactory and is faced with the wholesale withdrawal of American nations.

Decrics Armanent Race

But it was Blum’s vigorous speech which astonished the world states men. He decried the increasing race for armaments and referring, evie dently to Germany, said: : “The mystery certain nations maintain’ ‘regarding their armas ments adds to the universal dread of war. War is almost inevitable the moment it is considered in= evitable. The friends of collective security should bar the route to those who are shaking the dice of war.” Blum did not mention sanctions but the bloc of neutral nations— "| Norway, Sweden, the Nether] Switzerland and Denmark they reserved the right not to a sanctions .in future disputes the world has been disarmed. : Plagued by néw Italian and Are gentine threats to quit the League and shamed by Emperor Haile Selassie’s denunciation for its failure to prevent conquest of his em the Assembly was amazed by vigor of Blum'’s speech. ; He denied that strikes in France and French failure to mobilize Germany's remilitarization of Rhineland were signs of weakness,