Indianapolis Times, Indianapolis, Marion County, 23 July 1936 — Page 21

OP INSURANCE

ANS OUTLINED JY NEW DEALER

Bid for Midwest Support Carries Prospect of Farm Security.

BY RUTH FINNEY Times Special Writer WASHINGTON, July 23.—The Roosevelt Administration was on record today with a new bid for ‘Midwestern support as Gov. Landon : ed to make his first speech of campaign. The Administration is studying crop insurance with a view to makne it a “major element in pational Jarm policy,” Secretary of Agriculture Wallace announced in Kansas City last night. The announcement was the first flat endorsement by the New Deal of a policy which has been gaining favor rapidly in the West as drought losses have mounted.

Plans Being Evolved

Secretary Wallace disclosed that

his department was at work on - plans for all-risk crop insurance of ~ wheat, using data available for the first time as a result of individual

production records kept in putting |

AAA crop reduction into effect. If

: ~ these work out, he suggested that

corn insurance might be considered next. He likened crop insurance to Federal bank deposit insurance, as a task which the government must undertake because private enterprise has failed to do so.

“Sound crop insurance would provide social security for the farmer,” said Wallace. “Perhaps he is entitled to his form of social security along with others in the nation. “Sound crop insurance would do away with much of the need for relief and aids and emergency loans Which develop in times of stress. “Sound crop insurance would provide a better credit base for a farmer'’s operations, which would ultiHately mean more efficient produc- : n.

Would Promote Soil Conservation

- “Sound crop insurance would tend 10 lessen the temptation for overplanting and would promote soil Somservation and better farm pracce. - “Sound crop insurance. should make it possible for those farmers living in that part of the dry-land area which, over a period of 30 years, -is better adapted to grain than to grass, to continue to live there and survive happily even though droughts as severe as we have had in the last five or six years should recur.” ‘ Wallace discussed at some ‘length the possibility of collecting premiums in the form of grain rather than cash, and the further possibilof collecting them in years of excess production only. “Such a plan would assess the costs only against those years in . Which there was a surplus produc- ~ tion,” he said, “and, assuming that decline cccurred in such e burden should be relatively : Heghter. The fact that a part of the urplus production is taken off the market would tend to prevent a Weakening of the prices.

Surplus Grain in Storage

“The plan, if adopted on a national scale, would really become the ever-normal granary plan, with : crop insuranee requirements servIng as an automatic regulator. In * years of surplus, part of the crop would be drawn off the market and put into storage and such amounts would be definitely fixed, being based on predetermined rates essary to indemnify losses in d crop years. In years of crop _ failures the grain would be reJdeased and the amount would be sutomatically determined by the hdemnities paid. The accumulated * reserves of grain -would automatically go to those who needed it most, those whose income had been ; destroyed. “Furthermore, as a form of price

no funds to buy up the comi ity. The patticipating farmers Would really provide the capital in

le the plan would re-|:

- the form of premium payments for |:

storage of grain but insofar as this plan would keep prices from falling In years of surplus the burden of eir contribution would be lighter.

Indianapolis Lady No [_nger Rundown,

Nervous; Dyspeptic

Konjola Restores Health, |

Peps Up Stomach, Liver and Kidneys

“Indianapolis—Mrs. McClure says its ireat to have plenty of pep and to be eg from stomach pains, backaches and daches. She writes: ‘I had been rundown, ons for years. Stomach dat prices

Mrs. Tillle J. McClure : Had terrible gas, bloat And 2 belehe of blle and undigested food. = dneys were weak, caused night phi backaches and swellings of: Liver was sluggish. I sufd hendacies constipation, dizzy a ts bat £ until I Konjola.. nt ed de stomach, kidneys and oot 1 al right. Re more Jatus, 5 ng or rundown condition, like a new woman.” Mrs. Tillle

J. McClure, 4419 Ralston Ave, Indian-| . Biol wil will u make ke you feel like new.| 1 medicines in

It has Foy ingredients. Some re- , stomach pains, gas, heartburn and

years, i

tired and ‘

Air Cadet Corps.

If you're wondering what such antics mean, J. D. Hull, Evansville, above on pole, will tell you that he has just completed his first solo flight at the Hoosier Airport as a member of the American He is shown tacking his. halfwings to the top of the “totem” pole.

YOUNG FLIER POSTS

clothes. on.

Shortly after this picture was taken “J. D.” was thrown unceremoniously under a shower with -his Eight other young enthusiasts have made solo flights to earn the title of flier. Zaepfel, 1432 Charles-st and Sam Mathews of Con= nersville made theirs yesterday.

YOUTHFUL SUSPECT HELD AS BURGLAR

Claude Moore, 19, Tried to Ransack Cleaning Shop, Is Charge.

Claude Moore, 19, of 824 N, Eastst, was arrested on burglary charges early today in connection with an alleged attempt to ransack the shop of Noble Bros., cleaners, 805 N. Dela-ware-st.

Mrs. May Carmondy frightened an intruder away from her home, |2 846 S. Capitol-av, last night when she was awakened by a burglar cutting a hole in the front screen door.

The theft of clothing, valued at more than $75, was reported to po-

lice by Audrey Karney and Walter Layne, both of 632 E. St. Clair-st. Floyd Gray, 1539 W. Ohio-st, reported clothing of a similar value taken from his home, also..

LIONS TO. AID BLIND

Clubs, in Convention: at Providence, Determine Major Drive. - By United Press PROVIDENCE, R. I; July 23. — A resolution advocating universal fingerprinting was to be - passed today for the third successive ye&r at the twentieth annual convention of the International Association of Lions’ Clubs. A resolution against

$500 in a music contest went to

Parkersburg (W. Va.) High School |-

Band.

+ KILLS

BR) BYES

Peterman’s Discovery kills fast, costs little. Can be sprayed on mattresses. Spout on can also puts fluid in mattress seams, behind baseboards, moldings, any place where bed bugs breed. Bugs suck it in and die. Effective 24 hours a day. 25¢, 35¢ and 60c at your druggist’s. Get some now — and get those bugs!

Robert

first solo flights.

They were Paul

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you buy any 1

CLAYPOOL HOTEL BLDG,

wh ic 6 not feel a T Zo-ak “aninSrraptaaly o

TRY A WANT AD IN THE TIMES THEY WILL BRING RESULTS

Dated July 1, 1936

least 30 days’ published notice,

This is not an Offering Prospectus. The offer of these Bonds is made only by means of the Offering Prospectus. This is published on behair of only those of the undersigned who are registered dealers in securities in this State.

This issue, though registered, is not approved or disapproved by the Securities and Exchange Commission, which does not pass on the merits of ay registered securities.

$13,827,000

Indianapolis Water Company First Mortgage Bonds, 3%2% Series due 1966

Interest payable January 1.and July 1, in Philadelphia or New York FIDELITY-PHILADELPRIA TRUST COMPANY, PHILADELPHIA, TRUSTEE. Coupon Bonds in denominations of $500 and $1, 000, registerable as to principal

Redeemable, at the option of the Company, in whole or in part, on any interest payment date prior to maturity, on at at the following prices and accrued interest: to and. including July 1, 1941, at 105%: thereafter to and including July 1, 1946, at 104%: Bes ne to and including July 1, 1951, at 103%: thereafter to and neiuding July 1, 1956, at 102%; thereafter to and including July 1, 1961, at 101%; and thereafter, at 100%.

mable for the Sinking or Improvement Fund on January 1, 1942, and upon each first day bf January next wing the end of each five-year period thereafter until maturity, at the redemption prices indicated above.

Due July 1, 1966

communism also is expected. Relief of the blind had been set |} * ’ : as the major drive fof the next 12 Lent months. - Last night‘ first prize of 140) 73:

@ You cap save four ways with - your Gas refrigerator. You. can save . on food costs, on operating costs, : on repairs end os depreciation. In a gas refrigsastor, a tiny gas flame takes the place of all-moving parts. There's nothing to wear out ‘or break down. You are assured of ‘long years of economical refrigera"tion with the | new Gas shige

a a Bor be aan siveyou of thee edveniages,

® NoMoving ® Perasneac

Parts Lok Opi * ring otic

Pennsyloania tres not exceeding five mills refundable as provided in the Indenture Iosuance and sale authorized by The Public Service Commission, of the State of Indiana

The following is merely a brief outline of certain information contained in the Offering Prospectus and is subject to the more detailed statements in the Offering Prospectus and the Registration Statement, which also include important information not outlined or indicated herein. The Offering Prospectus, which must be furnished to each. purchaser, should be read prior to any purchase of these Bonds.

THE COMPANY Indianapolis Water Company was incorporated under the Laws of the State of Indiana on April 23, . 1881. On June 27, 1936, the Company provided: for its perpetual corporate existence by proper sorporatenctionand fling undei**The Indiana General CorporationAct’’. he Co Company is controlled by Indianapolis Wate r Works Securities Tey through ownership of 499,935 shares of the Co ny’'s outstanding Common Stock, a Which. Stock is Jledped with The Pennsylvania Company for Insurances on Lives and Granting Annuities, : EIndenty ure of Indianapolis Water Works Securities Company, dated January 1, 1928. India wh Waters pander dr y is controlled by The C. H. Geist Co., Inc., which in turn is controlled by C. H. "Geist. Since its rftios Corn pany 1881 the Company has owned and operated a water works system oy ed to lying water for domestic, commercial and industrial uses and for fire hydrant service in the City of Indianapolis nya thereof, such drea having a population estimated to be in excess of 383,000. The Company has no present intention of varying the general character of its business. The Company’s sources of water supply are principally the White River and Afty-six deep rock wells. The Company owns certain lands and flowage rights on Fall Creek, to be used.at some future time for development of an additional source of water supply. Among other properties, the Company c owns water Aathering, pumping, purification, storage. and transmission and distribution facilities.

CAPITALIZATION : hears ‘Outstanding with the Funded Debt: © = 4s Rublic as of April 30,1936 First and Refunding Mortgage Gold Bonds, 4! % due January 1, 1940.....00000. 45 $3,731,000(a) First Lien and Refunding rigase G Gold Bonds % Fivé and One-Half Per nt. ies of 1923, due March 1, 29533... . 000i 00s0s00s $200,004 Five and One-Half Per Cent. Series of 1924, due September 1, 1954.......c0000 40 Five Per Cent. Series of 1925, due December 1 BAO. oiseisesinirarssisisonees : "a l55.00 ‘5% Series of 1930, due March 1, 1970... .c..cc..ovooecosssniscssctsssosssssssss 1,102,000(b) 5 : 312,692,000 1} 51,054,900 5,250,000

Total Funded Debt .:i...ceoiioorroesaserasassssonssccsassascscisasace Total Capital Stock .ceoeincicescossirsvssesorsoseecsascsasasassssrse $6,304,900 (a) Xot including $6,089,000 principal amount pledged. with Fidelity-Philadelphia Trust Compony , Trustee under the First Lien and Refunding Mortgage, dated March 1, 1928, and supplemental oy: thereto.

(b) Not including $661,000 principal amount held by the Company in its treasury as of April 30, 1956, and #474.000 additional principal amount issued as of July 8, 1986 and now held in the Company's iressury.

reas ‘The he Company & will use the net proceeds from the sale of these Bonds (estimated at $13,363,582.75 after - OF ISSUE deduct Rees), to the nt of $13,157,140 to redeem all of the Company's funded debt now outstanding of the public, and to the extent of $206,442.75 for general corporate purposes.

EARNINGS: Earnings of the sm for the years ended December 31, 1933, 1934 and 1935 and for the four months ended April 30, 1936 shown in the Offering Prospectus and subject to related notes and other relevant FO itr dig are summarized below: Years Ended + Sarating Total Net December 31 ues : Earnings 1933 $2,418,740 ; $1,198.25 $500,503 1934 . S08. + 1,870, : , 975,372 - 1935 . 2,445,821 1,202,9. 51,266 509,297 1936° : 834,171 395,913 214,125 16,915 164,873 ® Four months énded Apri 80, 1936. pe

— 2:

Annual interest charges on the $13,827,000 Bonds fo be outstanding upon completion of the present financing end the retirement tenes ds utstanding funded debt will amount to £0 $483,045, ?

NEW moNDS The First Mortgage Bonds, 3!, 9% Sertes due 1966 are to be issued under and secured by the Company's First Mortgage to be dated July 1, 1936. These Bonds; in the opinion of counsel for the Co. will be secured by a first lien upon all property gienied af 4 the date of the Mortgage or which may er owned by the h certain minor origage provides that the ey into a. : Improvement Fund for the benefit o threo dx The 2X Bo annually on the first ol Jul July borin inning July 1, 1981, & tum ix cash equal to 4 of 19 o the maximum ipal amount of Bonds of th which have - been issued at peivale certain property additions to the extent gage. The may also use certain property additions, as a

at any time, a or, in lieu thereof, Hay ce geri tot athe and io the ee in she aforesaid, as TAS Comp ir arel of h from said Sinking or Improvement or t cash from - Fund. Th 420 the oti Phat additional Bor of this series or any other duly authorized series may be issued from time on ee odt limitation as to principal amount of any or all series but: “atibjoct to certain restrictions, and when issued such Bonds will rank gate n passu with this series. The Mortgage does not permit the issuance of securities which will rank ahead of the new Bonds. Substitution of properties securing the issue is permitted, under certain conditions, without notice to the bondholders. UNDERWRITING Subject to certain terms and conditions, the: Underwriters named below have severally agreed : ee these Bonds from the at 98%, or a total of S13,550.460, severally agreed interest. Such Bonds are to be offered to 1he publié at 2 ara t of 813,421,008; plus accrued interest, The Wlersriting discounts are 2%, ore total of $276,540; pr Ea - a :

Price 100% and. Accrued Interest

Dave agreed to purchase these Bonds when, as and if fasued and accepted by the bject to the approval of Messrs, Morgan, Lewis and Bockius, counsel for the tters in connection with the Bonds have been pass oes he a fights ond franchises and titles have been rendered delivery of temporary Bonds, exchangeable for definitive ce of J. P. organ & Co., on or about. July 30, 1986,

1 Prospestus the Underwriters have authorized the purchase s for their several accounts, either for long or short od 4d jor in dir semens ere themselves. So

ital Stock: Capital Stosk: Cumulative Preferred Stock Series oy » $100 par oalugiit. sense ns Common Stock Without Nominal or Par Value (500 500,000 8h@res)...oocecccscisssess

Net ~

«Interest on Other Income uctions Income

Funded Debt Ded

*5sane