Indianapolis Times, Indianapolis, Marion County, 18 November 1937 — Page 14

PAGE 14

MARKET DECLINES

IN LIGHT VOLUME; U.S. ISSUES GAIN

Shares Off Fractions Porker Pr ces

To More Than 3 Points.

NEW YORK, Nov. 18 (U. P.).—Stocks, bonds and cotton declined in their respective markets today with dealings light. The share market registered losses of fractions to 3 points. Bonds had similar deutilities steadiest. Governments, however, made r advance and Brazi ilians Cotton eased to

lines with

an lar

irregu were strong 3 5 points There was particular issue on ket. Widest losses occurred in the higher priced, inactive issues Ing-ersoll-Rand on single deal lost 3 points to equal its 18937 low at 78 Amerada made a new low at 56%, 21, Melville Shoe egualed its at 50, off a point depressed for a time support around noon was around 355° exXunchanged. It touched the session and sold 561<. Bethlehem rallied touching 50. ‘off 2!> points. rvsler recovered partially from s | 61%, off 2? Westinguse Electric firmed from its early 97. off 2. Nonferrous metals Rails steadied = ” =

Today's Business At a Glance

GENERAL BUSINESS

Engineering News-Record reports construction awards this week $34.- | 753.000 vs. $44,158.000 year ago.

CORPORATION NEWS

Associated Gas & Electric Corp, months ended Sept. 30 consoliprofit $1,116,255 vs. $3095,123 | 12 months Baltimore Ohio R. R. Co., Sepnet income $607.084 vear ago: nine months Ral to 82 cents pre1are vs. $250.077 or 42 cents 0

pressure on any the stock mar-

pr low Steels were thev met S. Steel

but or L dividend, 54 earlier in ao

of support

dated pr evious & tember 1% ana 81 110.883 $483.135

Terred

a year ap Louisvil eptember

1.151,714

income $790.645 vs.

ago

net veal

Drop 35 Cents

~ To $8.55 Top

Hog prices dropped 35 cents in the local vards today. the Bureau of Agricultural nomics. Most interests were bidding 50 cents lower around mid-session but demand eased at the close. Ex-

| treme top was $8.55 on choice 140 to

i'Slaughter

i cutter

160 pound barrows and gilts. Packing $7.50 to $8 Hardly enough steers appeared to establish a market, but the few plain ! steers turned at fully steady prices.

according to | Eco-

{ Auburn Auto ..

sows lost fully 25 cents to bulk |

| |

THE INDIANAPOLIS TIMES

NEW YORK STOCKS

By United Press

High . 24 1% 43a "s

Addresshgrpn All SNE . Al 30 wl Allied. Stores

.e 2 Am Stl Pdies .. Am Stores .. 11% Am. T&T. ....: Am Wat W .... Anaconda _. Anac Wa Cable. Anchor Cap . Armour Ill

Balt & Ohio ... Barber Co

Beth Steel Boeing Air Borden Briggs . Bklyn & Q Tr. Bucyrus-Erie Burroughs

- »

dada todig

® ®

Can Pacific Ches Corp .... Ches & Ohio .. ChicGt W Ry Chi Pneu T ... Childs Chrysler . Colgate-P-P Col & Aik Colum Gas . {Com Inv Tr ... 4 | Com Solvents .. Commonw & So Cons Edison Cons Edison pf. Cons Oil

NEA ADR

GLY Of Ge

San

CHET ET+I +44

Beef cows sold mostly at $5 to $6 @s | Con RR Cubapt

grades cashed from $3.50 to $5. Bulls sold from $6.50 down. Vealers were active and steady. Good to choice kinds cashed from $11 to $11.50. Sheep dropped 25 to 50 cents today as a result of the decline in dressed trade chiefly due to poultry competition. Good to choice native and

ferings sold from $7 to $8, and com- | mon throwouts from $5 to $6. ewes were scarce and

{ prices were unchanged at $2 to $3.

| Nov,

110

vs. |

| (1100-1300) le & Nashville R. R. Co, |

nine months |

5 wu 803 or $4.89 a share vs. $6,047,- |

696 or $5.17 Mar

vear ago lin-Rockwell

67 share vs. 3376965 or $1.11 quarter and $%443004 or ago: nine months, $1,319. - or $389 vs. $1.025431 or $3.02 ago New Y

$1 a previous $1.30 vear 411 vear Louis et

York, Chicago & St R. R. Co 10 months n come $2.130.978 equal to 97 common share vs. $2,304,214 ago Raybestos-Manhattan Subsidiaries, first nine months $2064.035 equal to $325 a $146152 or $230 year September quarter indicated profit $553.393 or 87 cents a share vs. $836,138 or $1.31 previous

Tyee t I's

year

Inc

profit share vs ago,

net

quarter and $472,403 or 74 cents year | | Cow

ago American Public ‘Service Co, September quarter consolidated net income, $292.812 vs. $209.469 ago; nine months, $353,128 vs. $25! 163 vear ago Chile Copper Co. first nine How consolidated net income 7.417.722 equal to $3.94 a share vs. : 66 034 or 90 per cent vear ago New York, Chicago & St. Louis Railroad Co., week ended Nov. 13, carloadings 4711 vs 5216 previous week and 5483 vear ago. Pere Marquette ended Nov.

week 13

carloadings

5923 vs. 6803 previous week and 7303 | n

year ago

West Texas Utilities Co., Septem- |

ber guarter net income, $351,062 vs $290,038 year ago; nine months, $546,855 vs. $486 409 vear ago. White Rock Mineral Springs Co., first mine months net profit, $316.802. equal to 99 eents a vs. $331.888 or $1.05 year ago; September quarter, $90,095 or 27 cents a common share vs. $129277 or 42 cents previous quarter and $93.716 or 28 cents vear ago DIVIDENDS

American ‘Sugar regular quarterly mon pavable Jan

Refining Co. 50 cents on com-

3 record, Dec. 6

Dominion Bank of Canada regular | |

quarterly $2.50 payable Jan. 3 record Dec. 20 Pennsvlvania Salt Manufacturing Co. $3 payable Dec. 15 record Nov. 30 vs. $2 in September, $2.50 in June and $1.25 in March. Raybestos-Manhattan Inc. cents payable Dec. 15 record 30 vs. like payment Sept. 15 James Talcott Inc. extra cash of 10 cents on common 15 record Nov. 29 and a

Corp., September | guarter net profit $568,504 equal to |

(Reprinted From Late Times Yesterday) BOGS Bulk $8.85 8.10@ 8 20a

bor 9 a

Recel 3.00 9.25 015 8.15 $5.00 8.90 8.90

“@

ONBLDLD > 2

19°

cooUvew

“I-10 DPANNS QOD

Hanmer

Li ght Ligh 160 “Good and Medium Lightweights— (160-180) Good and Medium Good and Medium 220) Good and (300- -250) Good and | Heavy yweights— (250-290) Good and (290- 350) Good and

choice. .§ choice . . (180-200) choice. .

choice. . choice

(200

choice. . choice. .

aughter Pig 100-1 40)

Good and choice.. Medium

CATTLE —Receipts, T00—Choice Good Medium Common Choice 300d Medium Common Choice .

(550-900)

(900-1100) (plain)

N (1300-1500)

Heifers Choice Sood eT Te. o0a Common JH ? T Good and choice \ Common, medium D 8.75

(550-750)

(750-800)

Good

{ Common,

and net |

| Cutter,

ine | cents a | or $1.48 |

medium .. Low cutter and cutter Bulls Good (beef) . vrs ve common and meditm Vealers —Receipts choice

500 ~ Good and Medium SE Cull and medium Calves Good and choice. . Common, medium Feeder and Stocker Cat Steers

and choice ommon, medium Good and choice Common, medium.

9.00% 10.00 5.50@ 9.00

(250-500 [email protected] 00@ tle

(500-800) (800-1050)

Good

36-309

Ie ~7

aoe

| Heifers

vear |

I"Shorn

Railroad Co.,!

common share |

Good and choice. . Common and medium

1:3

JN OF

vo ow

Good “ Common and medium SHEEP AND LAMBS —Receipts, 1500 —

Lambs— Choice Good Medium Common Ewes— (90-175) Good and Common, 18 (U. P.). 23,000. including Ket, 25 cents lower; spots off EY) 40. most good and choice 35 » [email protected]; 180-230 Ibs.. $8.25 ; 240 -300 Ibs., $8.10% 8.30; most good $7.50@ 7.85; lightweights,

“Receipts, 5000 calves, 1000. Very f in run; steer crop comprising y SHOT fed strong to shade higher; Kling early sales, $7.75@ 11.25; Killing tv mostly Y como and medium with loads good to near choice included; grade heifers and cutter cows, strong: cows about steady; low cutters and r [email protected]; beef grades, [email protected] action on heifers downward weighty bulls, steady top. rs, steady, mostly $10@11. -Receints, © Fat lambs, very sales, st choice, 89.25 and sheep nedium_ to choice ewes, feeding lambs

P.).—Hogs— 140-160 Ibs.

9.7¢ 5 J 5 3.00@ 3.5 200@

choice medium 3.00 CHICAGO. Nov " Hogs Receipt Ss,

— Livestock: > 6000

top,

few low bee

best

ely, $7.50,

above; native

18 (U rice s lower, 38.30

| 38.10

Now. | | Bas

pavable Dec. | dividend of |

15 cents on common pavable Jan. 1!

record Dec. 15 vs. last 15 cents Oct. 1. Wayne Pump Co., 50 cents, able Jan. 2 record Dec. 17 vs. pavment Oct. 1 Boeing Airplane Corp., initial 40 cents payable Dec. 18 record Nov. OE es Gas & Electric Co. egular quarterlies $1.75 or 7 per cent preferred and $1.50 on 6 per cent preferred payable Dec. 15 record Nov. 30.

pay-

previous of | € like | Equity 24. | | Gen Cap

{Gen Th _Tr 4.71 "Group Sevuritite

Panhandle Eastern Pipe Line Co. | special year-end 50 cents on com- |

mon, pavable Dec. 16 record Dec. 1. Pullman, Inc. special $125 payable Dec. 21 record Nov. 26. U.S. Playing Card Co., extra 25 | cents and regular quarterly 25 cents | payable Jan. 1 record Dec. 186.

U. S. STATEMENT

WASHINGTON, Nov. 13 U.P) ermeht expenses and receipts for the cur. ¢nt fiscal vear through Nov. 16, compared with 3 Al aR 0 s Yea Lust Year Expenses . $2.881.819 73 Gog Receipts Deficit Cash bal Work bal Pub. debt. Gold res, Customs

Inactive Gold

DD nih 09 rk EI KT in =

bt pt 23 aN

Hi: HO PRHOWT I

oda . 4 $5.ba1 00 $1.2

INDIANAPOLIS CLEARING HOUSE

Barings Re

Cees R aT eet aR ARE iN EEO

Serer.

»,

first dividend on the Issue, |

| ered —Gov- |

| and over,

: | pounds and over | 112

pounds and over,

bs. 120- 140 Ibs.. $8.05

100-120

calves, $11; —Hog

P.) ulk 140 88.20% Ibs. Roughs, Lambs,

INVESTING C0.’S the N. Y, Security Dealers Assn.) Bid Ask 12.02 12,79 Ban 430 4 761

stags, $8.95.

lan 1 hs

38.5 L AFAYET TE, Nov

Calves, $10.50@ 11

(By

> n

>»

Adm Pds Affil Fd Am Bus Am Gen Bks N In Ind Bos F In Broad St Bull Fd

~7 on

w 2. mA

RoW

Fk fk ok fk 3 bos cy

“TOW -IW° WNW OHH ~TRID TW COD T0800 OF TCO <TD DA

BD == 5 vy 2 Fh hh wd oh 2.0

4 £954 19 +t “TIL ae

44 Mass 1 Tr 85 Mut In Pd HN s

DT NONI D tI

TRO LII ANI

TTI gh ear La “IRA DT FON 0

> 2

Ste 01 Brym Pd A 25 Bunt Tne

3.16 1 Inc 16.07 17

~ >

10 os

4.27 Rep Tr 9.4 80 29.88 32.18! Sel Am Inc 9.28 10 12 5. BSc ane 4.05 88 7

5 Agric 1.30! So Trask “te. 83 15.61 1 IE 13 Std Uti $2 67 1.38

: 9.31 1012 | N 1662 ... ¥ N Inst] Securities The, opr 5 Ae C hdd 5 OSPLAPE Well Fd

LOCAL PRODUCE

The prices quoted a

2.02 14.95

adie Bia 808330 1m NO

Bk Grp 1. | Invest Bank Corps

re for stack the in the country, while for 4 A prices are 1 cent higher Each case of €gRs must weigh 55 hounds gross. Eeggs—No. 1 strictly fresh, loss off. 8c. Chickens—Heavy breed hens, 41% pounds 19¢; under 41. pounds, 16c; JegHens. 12¢; he avy springers, i 9c; Teghor s pounds and over, 15c: orn springer. ers 14c; od roosters, 9c. ucks hite. 41; pounds and ov feathered and fat, 13¢; colored "ducks, Ps llc: under 41; pounds, fat, 10c; Tndian runGeese, ile and over,

horn

feathered and

ner ducks, 6c.

| full feathered and fat

rR Th over

Dens, mts Ly

7.50 Rat { NT

i i |

Con Textile .. Container Cont Ins

| Coty

Crane'o. ..... Crown Zeller

| Crucible St

Cub-Am_Sug ... Curtiss-Wr “ov Curtiss-Wr A .. Cutler-Ham

Deere & Co ....

- | 1 .e fed western lambs cashed from $9 | Del ud 8.

to $9.25, half fat and unfinished of- | Douglas Air ....

Chem ES Pont

Pont deb. .

East R Mill...

Flintkote

Foster Wheel...

{

Bone

| |

| Int

Gen Am Tr....

Hupp Motor «..

Til Central “enn | Inland Stl _.... Inspiratn Cop. Harvester it Hyd El A Nickel gp. P&P bp

Int Int =

Liven

| Jonns-Man

ww > wo

[Kan C Sou pf.. 18 |‘ Kennecott

w wo &

Cem

ow » Ww a

dC ph a 1D 0A 00 4 1 wt pt n 0900 +t = wT pet pt ®

| Toriilara Ludlum Stl

Martin Gl

| Mead Corp

| |

Mesta Mach Mident ePt

| Monsanto i Mont Ward

. [email protected] |

| | | | |

| Bank of Manhattan ee

| stocks opened irregular.

BOWADNE VOWOIRONNDOIDED

other Lode

| Mullin Mig B.

Murray

Nash Kelv Nat Biscuit .... Nat Cash Reg . Nat Dairy Nat Gypsum Nat Pwr&Lt Steel ... Supply Penn N Y Central No Amer s No Am Avn Khe 14%

Omnibus 2394

Otis Elev

51 | packard 1310

| Paramt Pict

BANK STOCKS

“oD 132 131%

Bankers FrUs, . Bank of N Y Trust Brooklvn_ Trust Central Hanover Chase Chemical Commercial Continental . Corn, a . Emp First "Rational uaianty Irvi MAnractUFers National City ..... New yx Trust Publi Title “Gimrantee

Curb Stocks

By United Press

NEW YORK, Nov. 18 (U. P.).—=Curd

Net ‘Open Change Am 3 & E 27 Am Sup Pow Cities Ser Eagle Picher Lead

& S ‘a Take Sh Min Niag H Pwr Technicolor Stand of Ky Wright H

LOCAL ISSUES

(By Indianapolis Bond & Share Corp.)

The followi quotations do nnbt represent actual bids or offerings but merely indicate the approximate market level based on buying and selling inqurfes or recent transactions, BONDS

Citz Tnd Tel (TH) 4%s 61. H Tel & Tel Ft W Bing ¥3. va H Tel & Tel Ft W 6s 43 Ind Asso Tel 5%s 65 Indiana Tel Co Ss 8 . Ind Railway Inc 5s . Interstate Tel & er 5ibs $4. Indpls Water Co 32s 88 Kokomo Water Works 5s 58. Morris 5&10 Stores 5s 50... Muncie Water OR De ® vie Noles nilie H D SS

Asked 103

5s 57 Seymour Water Co 5s 46 + Trac & L 5s 44 T H Water Works 5s 56 . ....101 T H Water Works 6s 48 Trac Term Co 5s 57

Belt RR St To Lom . Belt RR Ss, Cent

pls 02 Lincoln Natl Lite s Co. com. 21% Mallory co

N Tha Pub Serv So ‘pid 514% N Ind Pub SY dos 6%... + ub Serv Co pfd 7%... fd 6%

Terre Haute Eles Co 6%. Foley 2 itle Co com Van mp Mi Co 1 Van Camp Milk Co ©

0 (By Lf Pr. Orit & Co.)

Market St. Investing Corp ... 23.47

See Final Edition of the Times for Closing Stock Quotations and Other Late News

DOW-JONES STOCK AVERAGES 30 INDUSTRIALS Yesterday Week ago—Holiday. ‘Month ago Year ago High 1937, 194.40; low, 123.98, High 1936, 184.90; low, 143.11. 20 RAILROADS Yesterday 5 32.93 —0.25 Week ago—Holiday. Month ago Year ago : High 1937, 64.46; Tow, 30.09, High 1936, 59.89; low, 40.66,

35.03 56.10

42.58 -0.75

Week ago—Holiday. Month ago Year ago High 193%, 37.54; Tow, 19.65. High 1936, 36.08; low, 28.63. 70 STOCKS Yesterday Freee Week aro—Holiday. Month ago Year ago PE High 1937, 69.67; High 1936, 66.38;

Tow, 41.52. low, 51.20,

High Pathe Film .... Penn RR...... Phelps Dotg Phillips Pet Pillshurv ves Pitts United Public Serv Pullman Pure Qil .. Purity Bak

Low

Q - w 2 n o

FILL:

F1+]

Radio 1s

Radio-K-Or ...

Reo Mot ...... Republic Stl

St Jos Lead v Sears Roebuck . .

‘s 1 1

4 4 “8 " 4

LQraln Lon o£ NAA uDe £ Fl

PO Fane e

FF.

laa \: . Br re EI ht er AG Fk et £90 0

ld ee

00 £3 CN 00 5 fu 03 CJ pt CV LD

LD 8»

— aD @

bt ~INen on

Bud baker Sun : Sasha’ Min .. SWilL Intl... 2

FLErred

1 3% «

- oo.

Texas Corp

- 3 Texas a Prd : T & PC & O

{ Tex Pac LT ey

Timk-D “Ax america Tri-Cont . 20th Cent-Fox.. 2

Union Carb . Un Oil Cal .... Un Aircraft Cp Un Air Lines .. Un_ Carbon . United Corp United C Un Gas

ACTION PROMISED

32%

mp 13%

Destruction of Monopoly Is. Necessary, Borah Asserts.

WASHINGTON, Nov. —The Administration's

U.P). proposed

Contending that the real basis for recovery is the [ nopoly,” Borah said that “some very definite ideas on subject,” ‘shortly after General Homer S. Cummings an- | nounced a virtual "“trust-busting” drive, “So long as a few corporations can fix the prices of everything the peo- | ple have to buy, we are bound to suffer economically,” Borah said. “I | agree with the Attornev General | that an antitrust law is of the highest importance. “I don't know what the Attornev General will propose to Congress but whatever it is we will get action on it in a very reasonable time.” Borah has pending a bill which “radically changes” the antitrust | laws. He explained that it

he had

| tions operating in interstate com- ( merce take out Federal licenses to give the Government leverage to regulate them. Cummings said that he had ssked Budget Director Daniel A. Bell to increase the appropriation for the ! antitrust division from $472,000 per | year to approximately $1,500,000.

ON ANTITRUST BILL

antitrust legislation will get prompt | action by Congress, Senator William | E. Borah (R. Ida.) predicted today. |

“destruction of mo- |

the | Attorney 13 N

d would | | provide that monopolistic corpora-

Net Last Change S Gypsum 637s 3s S Realty ‘ 3 " 6% i, S Rubber > 1, Ti, ig S Rub 1 pf . 330 S Steel 551

Va-Caro Ch .. Walworth Warner Bros | West Pac { | West Air | White oMt | White Sew M... > Worthington

0 a ®

OMI rad WI ~10 a »

Yellow Tr .... Young Sheet

Zenith Rad ...

WHEAT PRICES

DROP 4 CENTS Selling Pressure Sends

Grain Futures Down Sharply.

CHICAGO, Nov. 18 (U. P.).—Selling pressure in wheat continued throughout the session today on the Chicago Board of Trade. At the end of the first hour wheat was 33% to 4% cents lower, corn was 1 to 1's cents lower and oats were 3s to 1. cent lower.

| |

} | | \

i Iv Sy {

hore Yesterday's *lasm waned to the vanishing point

,* land reports of an extremely quiet

export trade brought out selling. * |The proposed trade pact with Great | Britain forced the British market lcwer on indications Britain may {give concessions to U.S. agricultural Wheat cars. | Corn was lower under renewed [hedging pressure and heavy arrivals. iSelling was steady from the start. {Receipts were 376 cars. ARGENTINE GRAIN

BUENOS AIRES. Nov. 18 (U { Grains opened irregularly lowe: December, $1.10, off 1%c; Februar off 1'zc Corn —December, 41ac, February, sc, Off Oats -Spot, up 2c. Flax-—-Nov ember. $1.34", off February, $1.25! .

P.). - Wheat— , $1.03% off lsc, 29¢ 5

2 C

WAGON WHEAT City grain elevators are paying for No <2 Te 82c: other grades on their Cash corn, new No. 2 yellow, 4lc. 5

WN. Y. Bonds

By United Press BOND PRICE INDEXES

20 20 Rails 2.9 "3. 44 99.4 9.5 101. 5 41.5 10. y «. 39. R47 14 26.4 83.6 51.0 Standard Statisties Co.)

20 Utils, { Yesterday | Week ago Month ago { Year ago y years ago. ! igh low i hich 193% high 1935 low

| (Copyright,

NEW YORK, Nov. opened irregular.

HANG tin

owe

1937,

18 (U. P.).=Bonds

Net

On 1g

FOREIGN EXCHANGE

NEW YORK, Nov. 18 (U. P.). foreign exchange irregularly Cable . 5.00 1-18 4.99 5-16

Tne

ange 00 5-18 00 5-16

ound) bh. TT.) tdollar) (franc) (lire) vv (belga)

| Eastand En “ TA France Italy Belgium Germany (mark) .. Switzerland (franc) { Holland (guilder { Spain (peseta) |

“00001,

+0001 -. 0004 0001 —.00001% inguiofed 1.0001 : > 0001

Sweden (krona)

| Norway krone) 313

| DAILY PRICE INDEX|

NEW YORK, Nov. 18 (U. P) [Bun & Bradstreet's daily weighted | | price index of 30 basic commodities,

pear with the Black Forest Interna in the Fair Grounds Coliseum for opening tomorrow night.

ers is pretty little Melitta Brunner.

and orchestra also are included scheduled to arrive today. The m producing plant was to start work floor, placed around the rink.

Demand for wheat remained whol- | indifferent as the decline length- | bullish enthusi- |

receipts were Bi

60 Bonds

en Shalt { ns i

. | ruled by Judge Roscoe C. O'Byrhe,”

‘fed, "ok

Two-hour p. m. nightly, day and Sunday.

performances are to

Tce stars from all over the world are to ap-

tional Revue three days,

Headlining the cast of 40 fancy, trick, speed, comic and thrill skat-

A 20-girl Auroras chorus, Tyrolese yodelers

in the cast, otorized icetoday on the

and portable Alpine scenery was to be

be at 8:30

with 2:30 p. m. matinees Satur-

THURSDAY, NOV. 18, 1037

Ice Skating Stars to Appear in Revue

Two stars to appear with the Revue are Diola (above), Seattle girl who has appeared in movies, and Ann Taylor, another fancy skater from the Northwest.

CONSIDERS PLEA FOR HICKS’ LIFE

Version of “Head and Hands’ Slaying.

The Indiana Supreme Court today had under consideration the appeal of Heber L. Hicks, now under sen- { tence to die in Michigan City prison for the “head and hands” slaying of Harry R. Miller, retired Cineinnat’ fire captain, A direct conflict developed in the oral argument yesterday between testimony given at the trial by William Kuhlman and John Poholsky, |codefendants, and hew affidavits | these men sighed shortly before they went to the electric chair ‘with | Frank Gore Williams, fourth principal in the case. The new affiidavits

Supreme Court Hears New

1938 After 13

Abe Spaulding, who has served murder of an Indianapolis railroad d {gan City Prison to start life anew n The State Clemency Board, hearing evidence that Spaulding was forced out into the world to make his own living at the age of 12 and that he never had an opportunity to go to school, today commuted the life sentence to 18 years. He was sentenced in Criminal Court here on Feb. 11, 1920, for the murder of Lee Stringer, James Collins, former Criminal Court judge who sentenced Spaulding, was among several persons who recommended commutation of the sentence. Bad Influence Cited

Clemency Commissioners said they heard evidence that Spaulding | was coerced into starting a life of | lerime by persons with whom he Nived. | XH

Spaulding’s record behind

Abe Spaulding May Be Freed in

Years in Prison

17 vears of a life sentence for the etective, may be released from Michie ext vear,

BUSINESS RAPS LEVY APPROVAL

Civil City Alone Benefits by Action; Seven Groups Declare.

The State Tax Board's action in approving Marion County's 1938 rates was described as “disappointing” in a statement issued today by seven business organizations | “The sole result of the Board's ac» | tion is to increase the amount al-

[attempted to take most of the blame iprison walls shows he has been a | lowed for expenditure by one of the

§ off Hicks.

Lawrenceburg, the Franklin | Stackley, attacked |

Charles A. Lowe, { special prosecutor at County trial, and Glen | deputy attorney general,

‘ments were filed “These affidavits were not presented to the trial court, but were | filed after the motion for a new trial in the Hicks case was overMr Stackley said. “Even if they had been considered { earlier, they still would not strike ‘down all evidence in the Hicks case. { The mw says a trial court must weigh new evidence in the light of fall the evidence previously present-

“The three condemned men told the same story at their own trials as was told at the Hicks trial. The affi- | davits were obtained while Poholsky land Kuhlman were in the death (house for their part in this crime.’ Stephens LL. Blakely, defense [counsel, said Kuhlman had told him | this “second version” of the case aft- | ler Hicks was convicted but before | Kuhlman himself went to trial He |

the method in which the new state- [4

will be | officials

| “model prisoner,” he likely la free man next February, |'said.

| The 10-year sentence given James |

I'S. Ross here in 1933 for burglary of relative’s home was commuted to | five years by the Commission, mak-

fing him eligible for parole next vear, |

A petition of William Greene, sentenced here in 1931 for alleged participation in 14 robberies, was denied by y the commission

ESCAPED KIDNAPER BELIEVED TRAPPED

Two Others Put Un Under Heavy |

Guard After Capture.

SYRACUSE, N. Y, Nov. 18 v. | P.) —=Percy (Angel Face) Geary, | last of the escaped O'Connell kid- | napers to remain at large, was ‘be- |

| compiled for the United Press (1930- |<aid the affidavits, however, were ob- | lieved trapped today.

| 1982 average 100): | Yesterday a Week Ago (Holiday). Month Ago (Year Ago .... {1937 High (April 5) {1987 Low (Nov. 18) ....

119.835 |

127.01 ooo 132.76 . 158.26

By JOHN

troublesome job, a lot of questions

The Government collects money frem the workers and their employers for old-age pensions. Already it has collected around $395.000,000.

umn, the Government spends that money to pay its bills as fast as it comes in. People have an idea that in some mysterious way these taxes pile up and become a great ‘“reserve” and great “fund” to protect | the people who enjoy old-age pensions in the future. But of course nothing piles up. reserve. All that there is is a new Government deficit. Government has merely borrowed | this money from the “Old Age Fund” instead of from the banks. It has added to the national debt. The Government is just that much more in the red. If it keeps on, this fund will, for the next 30 years, result in piling up Government deficits as fast as the Government collects it and borrows it. In due time | the Government will have collected and borrowed more than 40 billion dollars from the “fund,” all of which will be spent. There will be nothing left but a collection of Government TOU's, One way the Government ean avoid using this fund to create hew deficits Is to use the money to purchase already existing bonds. That is, the Government ea ntake the oldage pension taxes and buy a Government bond from a bank or from someone who already owns ohne. This would at least have these advantages: First, it ‘would not increase the public debt,

Secondly, it would save the Gov-

Colonial

Savings & Loan Association

Buy Existing Bonds Age Pension Money,

As already reported in this col- |

There is no fund and there is ho |

Up to now the |

With OldFlynn Says

T. FLYNN

Times Special Writer WASHINGTON, Nov. 18. —Around Washington, as Congress tackles its | jee said Fields

are being asked about the famous

reserve fund of the Social Security Board.

| ernment money, The Government

| can borrow money from the banks |

for 1 per e¢ent or 15 per cent. It | would be better for the Government to invest old-age pension money in existing 3 per cent bonds and then borrow the money it needs, if it

| needs more, from the banks.

hy Of course there are some drawacks, as for instance the overparMig of bonds, but even at that it would be better. As a matter of fact, however, [whole idea of the reserve is bad,

| there is a single expert in insurance | [or social security in the world who | approves of it. It does not create any actual reserve but only a fictional one. And it has the effect of forcing the Government to borrow |

salaries, thus reducing their expendable incomes when Government [borrowing should Be made out of {eapital funds from ‘people who have Surpiuses.

the | |

even grotesque, and I do not believe |

money from people of the smallest |

PLAN SPRING BUILDING NOW!

| tained after all four defendants had | [been sentenced to death. “The Hicks confession,” Mr. | [ Blakely said, “was not obtained in a proper way, Police took him from | | jail, refused him food and would |

118.75 | not allow him to confer ‘with friends | of a Paper bag,

attorneys.’

'HELD FOR ALLEGED | ATTACK ON AUTOIST|

Theodore Fields, 23, of 30 N, Ox-| ford St, was held today on charges | of assault and battery following an | alleged attack on John Goodwin, 31, of 1033 St, Paul St. last night. Po- | jumped onto the | { running hoard of Mr. Goodwin's | [auto in the 1000 block Keystone Ave, land cut Mr. Goodwin on the left [side of his face, neck and body. In City Hospital, where he was] [taken for treatment, the victim said | the fight started over a truck Mrs. | cyondwin had sold Fields but which | had not been paid for, according to | police. Searching Fields, police said | they found a bloody knife and a 38- | caliber revolver,

SCOTTISH TERRIERS ON EXHIBITION HERE

Five Scottish terriers who have ‘made Scottish terrier history in this country were to be among 85 dogs to Ibe shown in the third annual spe- | eialty show of the Scottish Terrier | Club of Tndiana fn the Athenaeum [this afternoon and tonight. The five are the most famous [Scottish terrier champions owned in this country. Ch, Hilleote Destiny, owned by Mrs. 5. Segari, Columbus, {Tnd., is to represent Indiana in the ‘competition.

1D ~ or a

| | | |

The home vou build hext will be a better plage tc If with plenty of time for tion and careful planning.

You may have the eounsel of men who have had vears of Home financing experience . who are trained to sit oh our side of the table” and to offer vou their suggestions oh the many problems of home building.

Btop in this ‘week. ‘Have ofr Home Building Servite Department place your hate oh our mailing list for free copies of “Home Life” magazihe. Tr

in ra

LEY

LEW

Geary’s pals, John Oley and Harold (Red) Crowley, who found breaking out of the Onondaga County Penitentiary at nearby Jamesville as simple as “getting out ” were under heavy guard in the Syractse Court Hotse,

Oley and Crowley were captured vesterday. Geary eluded police by leaping from a second floor window, More than 350 Federal agents, state and local police blocked every road from the city, and patroled the downtown district in the belief that the third thug was hiding in a rooming house or a vacant building. Two grand jury investigations of the anepon escape were immi- |

ALBANY, N. Y, Nov. 18 (U, P) —=James Sweeney, 11th member of | vhe Crowley gang, was locked in the | Albany County Jail under heavy guard early today after his arrival from 1.0s Angeles, where he was captured recently, He will be fried in Federal Court on an indictment charging complicity in the kidnaping of.John J. O'Connell Jr.

mentality of the Federal Gov Write for Folder Explain

| eigarets and cigars

(Hinsley, [ter,

You Can Buy $698"

ALL ACCOUNTS INSURED UP TO

We operate under Federal Bupervision and all accounts are insured up to $5000 by the Federal Savings and Loan Insurance Corporation, Washington,

local units, the Civil City, | $47,000," the statement safq. “The Board's action is disappoint ing because it will result in the largest levy for local and State governments in 1938 that our come munity has ever known “Confronted with a recession in business that so plainly is due in large part to the tremendous tax burden, our local and State officials inflict a still further increase.” The statement pointed out that the tax rate in the Center Township Indianapolis area has jumped from $2.58 in 1935 to the 1938 levy of $3.20, which was approved by the State Board, Organizations signing the state[ment included: Indianapolis Cham ber of Commerce, Building Owners A] Managers’ Association, Tndianolis Board of Trade, Indianapolis Reel Estate Board, Apartment Own. ers’ Association, Tndianapolis Home Builders Association and the Indie anapolis Furniture Association.

CCC BOYS TO FEAST ON 40,000 TURKEYS

WASHINGTON, Nov.

[

18 (U.P)

[ "he 300,000 members of the Civilian

Conservation Corp will get 500,000 pounds of turkey Thanksgiving when the CCC celebrates its fifth anniversary. The Quartermaster fice of the War Department will purchase the turkeys—40000 of them—from farmers and poultry merchants in the vicinity of the camps, All the “trimmin’s”—oysters, celery, pickles, olives, lettuce, zalads, vegetables, fruit cakes, mince pie, | pumpkin pie, candies, fruits, coffee, will Be included,

General's of-

(CREATE NEW CARDINALS

VATICAN OITY, Nov. 18 U. P), Five new Cardinals were appoint [ed today by Pope Pius XI, They were Most Rev. Arthur Archbishop of WestmingEngland; Archbishop Gerlier of Lyons, France; Giuseppe Pizzardo, Papal Undersecretary of State; Bymenegildo Pellegrinetti, Apostolic Nunecio to Jugoslavia, and Adeodato Piazzi, Patriarch to Venice, Ttaly,

Worth of

Amount to $5,000

Save Any From $1

D. OC, an ‘instru.

ernment,

ing INSURED Accounts,

23 'W, OHIO §T.