Indianapolis Times, Indianapolis, Marion County, 31 March 1937 — Page 4

PAGE 4

BUREAU TO ADD LIFE INSURANCE

Offices of New Company To Be Located Here, Schenck Says.

The Indiana Farm Bureau today announced that it sponsoring formation of a new company, to be known Hoosier Farm Bureau Life ance Co. Offices

as the Insurare to be In President Hassil E. Schenck. “Starting in a small way {two

years ago, the Farm Bureau auto-

mobile insurance has progressed to |

become a very prominent and

sound insurance company, operated by and for farmers,” Mr. Schenck said. “While the life insurance will not be restricted to farm people, it is the desire of the directors of the new company that the majority of insurance be written among farm people.

Capital Oversubscribed

“The amount of capital required by State insurance laws has been greatly oversubscribed, and it is the intention of the directors not to start the new company until sufficient pledges for insurance are on file to insure the safe and secure operation of the company. The directors will not be satisfied start the company with only the number of policies required by the State insurance laws.” “By using the same agency force that now is caring for the automobile insurance, the work will be expedited,” continued Mr. Schenck. “This places the new company in a better condition than were it necessary to go out and build an entirely new agency force. Agents are located in practically every county of the state. “While this is a new venture on part of the Indiana Farm Bureau leadership, there are seven other states now operating insurance companies successfully. This move on the part of Indiana farm leaders was brought about by the constant urge of farmers for a mutual company in which they could carry their own insurance on a reasonable basis. “It is anticipated that sufficient pledges will be signed in the next few weeks to bring about the issuance of the charter for the new company.”

'Y{" EXECUTIVE NOTES PROGRESS IN CHINA

Lyman Hoover Reports Unity Effected by Chiang.

China has progressed in public works and national strength, Lyman Hoover, former city resident and row on the staff of the Y. M. C. A. in China, said today upon his return from the Orient.

“Under the leadership of Chiang Kai-shek a unity epproached by China. The general

Gen.

the Farm | Bureau Building here, according to

to |

life insurance

1s being |

has risen above the narrow course |

which some militarists have followed |

after a rise to power,” he said.

Mr. Hoover is a graduate of But- |! ler University and Shortridge High |

School. He is one of three Y. M.

C. A. workers supported by the In-|

“Y” in the Orient.

dianapolis

Americans go miles out of their way to find showy slopes on which to try their skis, but in Spain winter sports have been made a grim business by the civil

AWAITS DISPOSITION ON DRUG CHARGE

Final disposition of narcotic charges against Dr. Peter C. Berns. Linton, is to be made Monday when

Federal Judge Robert C. Baltzell holds court in Terre Haute. Dr.

Berns entered a guilty plea here yes-

terday. Harry W. Fisher, both of Linton, alleged accomplices, also are to be sentenced Monday.

INSURANCE COMPANY ACQUIRES NEW HOME

The purchase of the former James B. Milligan residence, 1441 N. Delaware St., for its home office build-

ing has been announced by Guarantee Reserve Life Insurance Co. of Indianapolis. The company is to move to the new location within a lew weeks.

CONSISTORY LEADER ENDING LONG SERVICE

Lee S. Busch is to mark his valedictory after 22 years of servic: when he confers the 32d degree or the Scottish Rite spring class tomorrow afternoon as commandel-in-chief of Indiana Consistory.

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LOWER SEWER COST IS ASKED

Plea to Cut Assessments Discussed at Meeting In Beech Grove.

Beech Grove property owners 10-

day took the first step making a possible reduction of assessments for financing installation of a sewer. Approximately 100 property owners attended a mass meeting last night in which plans were made to

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Corp. for the assessment reduction.

A committee to present the petition |

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Garbed in white ski-suit uniforms, a ski company of mountain troops lies in a snow bank in the

drawing a bead on he enemy,

Harry W. Britton and William F. Roberts. According to Leo X. Smith, legal | adviser, the present requirement of approximately $2400 a year from the

city of Beech Grove is more than |

twice the amount necessary to re- |

tire 14 $1000 bonds over a period

of 14 vears. He necessitate a yearly

the connection.

PARISH CLUB TO

MEET

The Lady of the Lourdes Parish | its annual |

is to hold spring stag party p. m. in Fred Haunss is chairman of arrangements committee.

tomorrow at 8

the

THE INDIANAPOLIS TIMES

HOOSIER FARM Skiing Not Sport on Spanish Mountains REPORTS SLASH

said payments | assessment of | $4 to $7 for each of approximately | 600 pieces of property depending on |

the church auditorium. |

WEDNESDAY, MARCH 31, 1937

IN SCHOOL CITY PROPERTY TAX

A. B. Good Tells Board! Further Decrease May | Be Possible.

A. B. Good, City School Business | Director, today forecast continued | decrease in the amount of property | taxes necessary for upkeep of the] schools. In a financial statement for 1935- |

1936, filed last night at a meeting | Norman G. Wolf, of the School Board, he said prop-; Cohee. Dr, erty taxes for support of the School |V. DeWiit.

City had decreased from $6, 108,829 | in 1931-1932 to $4,666,030 last vear. Mr. Good said the recent Teach. | ars’ Payment Law,

would increase the Indianapolis revenue $432,000 over the 1935- 1936 | school year.

Other Revenues Listed

The increased state aid is

which boosts | state aid to $700 a teaching unit, |

| $8671.

| dent,

ex-

pected to take up the decreases in |

property tax revenues, he said. | The operating revenues of School City totalled $5.943,683.21 in | 1935- 1936, a decrease of $1,185,214 since 1931-1932. Among the | revenues shown in Mr. | financial report were:

Good's

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miscellaneous

Book and

lunch sales, $44,840; library fines and fees, $11,553.84; book rentals,

'G-MEN HOLD TRIO IN from the Fidelity & Columbia Trush

Co., Louisville, Ky. Sept. 25, 1935. Bounded indebtedness now $10,-

ALLEGED BOND THEFT ye, FRB oe 048,000 will be decreased an addi- |

tional $200,000 by July 1, the busi- By United Press Bi ness director declared. The in-| BOSTON, March 31.—William J. debtedness was $12,124,000 in 1929, | Corcoran, 59, former Middlesex The School Board approved the | County district attorney, and two issuance of $100,000 in bonds for | alleged confederates were held under improvements at Schools 35 and 47. bail totaling $75, 000 today as GLuther L. Dickerson, librarian, | Men delved into ramifications of a

said the training course for li. | supposed $1,000,000 bond theft ring. brarians will be reopened next fall. | Corcoran, who once served a | The course was abandoned in 1932. | prison sentence for complicity in a blackmail scheme, Rupert W. Mars- | ters, 37, and Edward A. Goggin, 42, | were charged with transporting a ment Needed,

FIFTY CLUB TO DANCE | $10,000 U. S. Treasury bond stolen ment Resid.

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