Indianapolis Times, Indianapolis, Marion County, 21 August 1936 — Page 1
“FORECAST: “Partly cloudy tonight. and tomarrow not much change intempersture,
Scupps — Howard) VOLUME 45-NUMBER 140
Sap— Sh
| FRIDAY, August 2, 1936
Entered as Second-Cliss Matter
at PostofTice, Tadusnnptihs Ind.
PRICE THREE CENTS
STOCKS DROP 1-70-10 POINTS ON WAR FEAR
Long Holders Scramble to Unload as Bears Sell Short.
TICKERS FALL BEHIND
Trading Increases as Rush ..to Liquidate Shares Is Started.
By United Press NEW YORK, Aug. 21.—Stocks crashed today on war fears. Losses ranged to more than 10 points * throughout the list and trading increased near the close causing tickers to fall behind. Long holders of stocks scrambled to unload. Bears sold the market short. No section was spared and the extent of thé decline in the inhdustrial average was the widest since April 29, when the drop in progress up to that date culminated. Dow-Jones preliminary closing averages showed the widest market break since April 27. The industrial average was off 479 to 160.80, the railroad average off 1.79 to 51.84, and the utility average off 1 03 to 33.51.
Tickers Run Behind The market opened tamely enough with a long list of issues higher and trading moderate. Shortly thereafter the whole list. turned down. At 10:40 the ticker was a minute late. Selling picked up until early afternoon when there was a brief lull. A subsequent recovery failed to hold.: Volunfe increased in the last half hour. Tickers were several minutes late. Highest grade issues were hard hit. Chrysler registered -a loss of more than 5 points and equally large declines were made by Westinghouse Electric and Amerada. Case lost more than 10 points, International Business: Machines 8 points, Atchison 4'2, Allied Chemical, 9%, and American Telephone 3% points. °° Motor Shares Recline U. 8S. 1 Steel, Bethlehem and own... Bh ee Tube were : its. Automobile ] 4 vith = Chrysler. . points, esi hor. lost on a lesser scale. r Farm Equipments followed Case down. Utilities, ils, tobaccos, coppers, silvers, rubbers and special issues were depressed. Johnk Manville broke 4 point. Sears Roebuck jed the mail orders down with a drop of more than 3 points. Losses ranging to 3 points were made by American Smelting, Anaconda and Kennecott. Demand for copper lightened abroad and the . price fell a few points. Atchison led the drep in raiiroad shares in further response to a poor earnings report. A long list of carriers were down -1 to more than 2 points. Car loadings for the week ended Aug. .15 gained more . than 8000 cars over the preceding week, but the rise was less than seasonal. Earnings of most of the roads for July continued to show gains. U. S. Bonds Irregular Convertible bonds broke wide open with their stocks. U. S. Government issues turned irregular after’ eight of them had made record highs.
Wall Street. experts aftributed the:
market nervousness entirely to the foreign situation. Experts.who returned from Europe yesterday painted dark pictures of the situation. Their statements, coming at a time when the market was wavering, were sufficient to set off selling that gained momeritum through the day. ' Domestic business’ reports ‘were not disturbing,
COX PACES REED IN SEMI-FINAL ' MATCH
(Other Details, Page 27)
By United Press TERRE HAUTE, Ind, Aug. 21. — Pritz Cox of Terre Haute had Bill Reed Jr. Indianapolis public links champion, 3-down at the end- of nine holes in a semi-final match of the state amateur golf tournament here today. Cox won the first, fifth, sixth and seventh holes to go 4-up, but halved the eighth and lost the ninth when he over-drove the green, Bud Pettigrew, defending champion, and Bob Hamilton, Evansville,
;than 2]
~ ANOTHER HAT IN THE RING
BRITAIN WARNS SPANISH PLANES
Threatens to Fire on Craft of Either Side:in Revolt - if ‘Gibraltar’ Crossed.
“BY United’ Press © , LONDON—Britain warns both sides in Spain she will protect her merchant ships and fire on planes if they persist in ~ flying over Gibraltar. BERLIN ~— Germany, incensed by search of German ship, may take . firm course towardsSpain, regardless of neutrality proposals.
ROME —*France® and Italy. come |’ closer: to. agreement ‘on. common:
attitude: toward Spain. VERA CRUZ: Mexico—Shipments of ' 39 ‘carloads of war materials,
reported to include 50,000 rifles, | arrives, for Spanish EOVersmant,
By United Press _ LONDON, Aug. 21.—Great Britain sternly warned Spanish Loyalists
and rebels today that it will pro- | tect its ships from any. illegal in-
. (Turn to Page Three):
- KILLED JIN- PLANE CRASH - PRINCETON. N. J, Aug. 21.— Charles Ward Hall, president of the Aluminum "Aircraft Corp. of- Bristol, Pa. was killed: today when an allAluminum high-wing monoplane of his’ own: make crashed near here.
Mercury Here May Reach 100,|
Bureau Claims|
of Midwest,
HOURLY TEMPERATURES
6am ...8 10am. ...9 7am. ...8 1la.m....9 8a.m.... 8 12 noon ... 98 9a. m. ... 91 1p.m ... 98
As a burning mid-August heat wave gripped Indianapolis for the fourteenth consecutive day, the temperature ‘soared -to 98" degrees at noon today. : J. H. Armington, Federal meteor-
ologist, predicted the mercury might climb to 100 degrees or over as the sun:bakedesthe city this afternoon. « After a night of unusual heat the mercury jumped from 80 degrees at
'6 a. m. to 91 at 9 a. m. Not until
midnight did the temperature - dip below 85 degrees last night. Albert Moore, 60-year-old ;hoisting engineer, was prostrated by the heat ‘today while working on the new Ben Davis High School gymnasium. He was taken to Methodist Hospital, uneonscious.
G. O. P. Misrepresen ted WPA Charge, Coy States
Bloomington Engineer Declares Stories Have Given False
Impression of
Project Costs.
A broadside counter charge of Republican misrepresentation was the answer today to accusations of WPA extravagance on Bloomington (Ind.)
projects.
_ Wayne Coy, state WPA administrator, made public letters from Mayor A. H. Berndt of Bloomington and John T. Stapleton, B ton city engineer, quoted in a press release of the Republitan National
Committee. The Republican charges that WPA
were ‘locked in a close battle, with | tatry.
EE re).
holes. Pettigrew fired a 39, while Hamilton covered the distance in 40.
SHORTAGE OF WATER
MAY CLOSE SCHOOLS | tbe Republicans.
Times Special
N o Pay Off
By Dnited Press
5s hghget i Hl
sik
; Fs
:
“Either the writer has misquoted me or he has failed to include the full circumstances. Even some of the very definite figures which are used are so wrong that it is ridiculSus to ‘consider the statements at
Mr. Coy said, “The misuse of information is something which should not. be tolerated even in a political campaign.”
WAY IS CLEARED -
“TOMEN IN MINE
. (fGrews Fail to S to See Miners
When Last Barrier
As Removed cue 4) RBCEICE
By United Press. ; : MOBERLY, Mo., Aug. 21 ~Rescue of four men trapped in a coal mine since Tuesday ‘afternoon—or recovery o bodies—was imminent this afternoon after rescue crews succeeded in clearing the “main shaft. There wére no signs'of ‘the four as the rescuers, tired and weary, removed the last blocade of dirt, timg ber and rock, and eut through the steel cage at "the bottom. Arnold Griffith, state mine inspector in charge of the work, came to the surface to arrange the final rhases of the rescue. “The air is a lot better than we expected to find it,” Mr. Griffith said. won't take .us as long as we had anticipated. We ought to get the answer to the men’s fate In a little while.” ; Hundreds of surious cheered when word went through the crowds that the shaft had been cleared.
Relatives of the trapped men] Hoping their}
moved rectlessly. menfolk are alive, despite the belief of most veteran miners that they have kept a constant vigil for nearly 70 hours at the mine head.
YOUTHS BACK HOME
AFTER PRAIRIE TREK
Find City Hotter Than Camp in Southwest. Fourteen - dressed in gay Western: shirts and wide brimmed sombreros came back
to the heat of Indianapolis today] r
after two cool months in the South-
“We will aerate some, but it]
ccumbed, they have| ©
sun-browned boys
CENTER SETS VALUATION AT 4242008
Township Real and Personal Property Listings Given by Assessor.
TAX ~ RATE UP . $.088
Poll Assessments Placed Against: 39,002 Persons in Indianapolis.
ro. With a township tax levy of $.338 already announced, valuation of real and personal property in. Center Township today was placed at
$424,200,900 : by James F. Cunning-,
ham, township assessor. The 1937 budget, prepared by Miss Hannah Noone, trustee, calls for an increase in the tax rate of $.088 over this. year’s levy.
... Residents are to- pay levies for
only the township bond and relief funds, Leo X. Smith, Miss Noone’s attorney,. explained. ‘Sufficient
‘| funds remain in all other township
funds, he explained, and no other levies were needed. The levy is expected to raise $1,417,532, of which $1,330,956 is to ‘go for relief, ‘he added. 39,799 to Pay Poll Tax Valuation of property in Center Township inside, which includes Indianapolis, was placed at $420,225,730, an increase of $861,350 over the figure on which taxes were paid this year. The valuation of Center (outside) was placed at $1,839,920; Woodruft Place, $1,448,100, and Beech Grove, $687.150, making a total valuation ‘of $424,200,900. Poll .tax assessments were placed against 39,002 persons in Center (inside), 411 in Center outside; 149
in Woodruff Place and 217 in ‘Beech’
Grove.
Mr. Smith explained that if the
budget is approved by the County Board of Tax Adjustment, all exditures would be taken care of
from current taxes, and outstanding.
bonds falling due during the ‘year
would be retired and no new issues
floated. Relief Situation “Better”
ere has been a gradual bet-| OE in the relief situation: be-{:
cause of increased employment, ? he | jk “The. is following’ its of last year and acing in “I its budget Lp ull 8 estima riecessary for relief
rR
PUrROSH Cre “When the ean hearing is Rp
had before the tax adjustment board, the poor relief figures may be changed so that relief can be financed partly on a pay-as-you-go basis and partly by the sale of bonds, or wholly by current levy. “Township finances are in a but eral good condition. Because of better collection of taxes this year
and the payment of delinquent | Republicans, Democrats and Inde-
taxes, no levy is needed for the general township fund.. The same is true of the tuition fund, the special school fund and the three Center Township : rural schools. nen
‘Necking Ned
BY NATIONAL SAFETY COUNCIL ) ATTN
ount |
| be sure that we shall be well gov-
American family and every Ameri-
.{ braska, on the Democratic ticket,
00SE
‘Don’t Mortgage Equality of Opportunity,’ Warns Kansas Governor.
KEEP FREE, HE SAYS
Republican Candidate for President Asks Voters to Weigh Issues.
(Editorial, Page 21)
BY JOE ALEX MORRIS United Press Staff Correspondent
ABOARD LANDON SPECIAL TRAIN IN IOWA.— Aug. 21.—Gov. Alf M. Landon’s campaign for the presidency led eastward through Iowa and Illinois today after he had warned America against “mortgaging the equality of ‘opportunity toward which we are striv-
ing.” As a climax to'a party celebration in Omaha, the Kansas Governor appealed to Republicans, Democrais
and Independents of Nebraska to weigh -the issues of the campaign dispassionately and “make our decisions each according to the dictates of ‘conscience as to what is best for the America of our allegiance.” “We want government to do its full share in protecting us and helping us to meet our necessities,” Gov. Landon told a breakfast conference of Republicans. in .continuing his emphasis on liberalism in the state which ‘has long. been attracted to the progresive policies of Senator George Norris. 4
, --Must Keep Freedom
“But we. do. hot; want government 0 jeopardize: ‘our birthright of freedom or mortgage that equality of Lopportunity toward which we are
1
n citizens; we are re-
ment we have in our community, our-state and at: Washington. When we neglect our responsibilities as citizens and leave the business of government to others we can not
erned: nor can we complain about the government we get. Ours is the blame if it turns out to be bad. “There are a great many of us—
pendents—who know certain things need to be done. Vital issues are at stake—issues that concern every
can home. . . . All of us will cheerfully accept the verdict of the great jury of the people.” A group -of four or five Nebraskans who said they were Democrats and who were headed by William Ritchie visited Gov. Landon at his hotel. a candidate for Governor of Ne-
said the group pledged their support to Gov. Landon. At Council’ Bluffs, Ia., Gov. Lan+] don said: “The fundamental purpose of the Republican Party is to promote recovery and give jobs. Anything that does that ‘without
Bhion Paty i for the kind of goverts | Wee
Mr. Ritchie, a lawyer, once |.
harming our institutions, IT am for.”
PROGRESSIVES IN FARM BELT TOADF.D.R
Hope by Indorsement to Offset Defections to Rep. Lemke.
7 BY LYLE C. WILSON United Press Staff Correspondent WASHINGTON Aug. 21.—Foremost Farm-Belt Liberal and Progressive spokesmen are scheduled now to suppert the Democratic Administration against the - combined attack of Gov. Alf M. Landon and William Lemke, presidential candidate for the new Union Party. This strategy is designed to offset Mr. Lemke’s poaching in the discontented vote preserves where President Roosevelt had expected little competition. .Claims of Mr. Lemke and . his. backers that the Union Party will carry 14 states are not taken seriously by political observers. But there is ‘a possibility that ‘Lemke votes may materially reduce the Roosevelt pol in some important Mid-West states. That would be ‘all to the advantage of Gov. Landon. Gov. Floyd B. Olson of Minnesota, stricken by isoperable cancer, revealed from his sick room the Lib-eral-Progressive - strategy scheduled for “formal - adoption at a progressive conference: in. Chicago ~ early next month. : Leaders to Meet Progressive leaders, including some spokesmen for organized labor, will meet there with the odds overwhelmingly in favor of outright indorsement of the Roosevelt-Garner ticket.” The first organized liberal move against Mr. Lemke’s candidacy and in defiance of the Rey. Charles E.| Coughlin’s National Union for So-‘cial-Justice; which has indorsed the ticket, was made this
by Gov, Sigon; e telegraphed
Pollette (Prog.
En or ‘co-sponsor of the Progressive
conference, that the 1936 choice lay between Mr. Roosevelt and Gov. Landon. He spoke kindly of Mr. Lemke and Father Coughlin. = But he insisted that “liberals must unite in' 1936 to re-elect Franklin Roosevelt.” f There are other independent liberal labor or progressive organizations on the Roosevelt band wagon now with every intention of dismounting next year. Maj. George L. Berrys: Labor Non-Partisan League .was organized to bopst the: New Deal in this campaign. John L. Lewis’ Committee for Industrial Organization - is directly concerned with organizing the mass production industries for union labor, beginning with steel. But: it has political implications.
BANK DEPOSITS RISE
WASHINGTON, Aug. 21.—Comptroller of Currency J. F. T. O’Connor reported today that deposits in the country’s 5374 national banks climbed to $26,200,000,000, an alltise peak, on June 30, the last bank
Mailmen Ask
Rural Carriers Pledge Selves
Co (Another story,
higher wages and shorter. hours for
and favored the establishment of an working proble
ms. .
: session in the Lincoln.
8
| riers whose employment’ has continued dus to roe consolld- | tion, to other departments, and : | tablishment of 3 Mefinite rule. =
J sentarity adaptable: to Tul sery- |i
Other resolutions ' asked enact- : -
Pay Rai ise,
Hour Cut on t on Big Routes
to Continue Fight for Better Roads.
ry County
picture, Page 3)
‘Rural letter carriers, in national convention here, today asked for
heavier mail routes, pledged them-
“| selves to continue efforts toward construction of better rural roads,
impartial court of appeals to adjust
vey Lous vessluiions: wers sdngten by the wedy ino buiiiese
r After T his RideEam: Ah
ELT IS T0 HOLD DROUGHT PARLEY HERE; LANDON OPENS TOU
President Calls Confere of Governors, Officials of Four States.
SCHEDULE ANNOUNCED
G. 0. P. Nominee Invited fo Meeting in Des Moines on Problem.
By United Press
HYDE PARK, N. Y,, Augy 21.—President Roosevelt to visit Indianapolis Sept. to confer with thé Governos and other officials of Indiana, Kentucky, Ohio and Michig
on drought conditions. The conference will be on President’s return trip from | Moines, Ia., where he is to Gov. Alf M. Landon of Kansas | officials of other Western states. Gov. Landon today said he will attend the Des Moines meeting, ~The date was set officially when the summer White House ise sued the text of a telegram dis patched to Gov. Landon and ‘the Governors of a dozen drought. state as well as to the United Senators ‘and other officials will participate in the discussions: The Des Moines session will bi one of a series of drought confer: ences which will begin Aug. 27 whe Mr. Roosevelt and his party ars rives by special train in Bise marck, N. D. The President will go to Indians apolis from Springfield, Iil., arel¥ ing early Friday, Sept. 4, will meet with Gov. McNu t 6 Albert B. Chandler of Ke Gov. Martin Davey - of Ohio Gov. Fitzgerald ‘of Michigan other officials. The party will leave: Indian
Priday Get. 5. Ch ri.
Hope F. D. RdliltTalk in State
Despite the announcément Hyde Park today that Roosevelt would visit Indiana Sept. 4, for a drought conf the Indiana Democratic Con will continue its efforts to hav President make one of ‘his® campaign speeches in India Sharman Omer S. Jackson said ay. Mr. Jackson said today he not received word of the Presid proposed drought conference ~ Gov. McNuty and other execu here. “Undoubtedly ‘Democratic 2:1, will confer with him during his here,”. Mr. Jackson said, “Our forts to have him speak here d the sampaign will not be halted by his visit in September, how
BOARD POSTPONES ‘BRADDOCK DECISIO
By United Press x NEW YORK, Aug. -21.—The Ne York State Athletic Commission today postponed until Sept. 15 decision on whether heav } champion Jimmy - Braddock wou have to go through with his defense fight against Max 8 ing of Germany. :
GOV. OLSON FED BY ; INJECTIONS IN VE!
By United Press
Gov. Floyd B. Olson, “very s ly” 4 of an inoperable stomach men
An official bulletin at Mayo Clin