Indianapolis Times, Indianapolis, Marion County, 23 March 1938 — Page 14

PAGE 14

STOCKS CONTINUE 7 3-YEAR LOW | IN DULL TRADING

"NE W YORK STOCKS

ws By. Uni / DOW-JONES STOCK AVERAGES 30 INDUSTRIALS Yesterday sesseassanessacass An —3.18 Week ago cesussenepePER FRI, JA22.87 —4.317 Month® ago seesescsnosuecsns .13%.41 +2.92 Year ago ..i..ic.oceqe ..184.38 +2.45 High, 1088, 134.35; low, ‘yan : High, 1987, 104.40; low, 113.04. at Union '.3: 2 RAILROADS Weatvat any 00! :

J USING OF TRUST | FUND INBUILDING

Colored Orphanage Teacher ‘Says Educational Aid

IN TRUCK PACTS, ‘GOVERNOR SAYS

Super Highway. Plan Foouses Attention on Conflicts In State Statutes.

High Vin, Rasits

Vaan % a oe | & 3

Ww waivoru r ‘Bros

Adams Ex

Yeostorday ..y.ccdeesciseeiss $002 0.90) Synite Week REO ...cvcccvsossscses . 25.11 1.47 Month 880 .....coapesvoncsse 30.08

Preside; 1's Speec h| Blam=d for Bearisi Trend.

NEW YOEX, March 23 (U. P)— Wall Street classified President Roosevelt's C:ainesville speech today as “very disappointing and distinctly bearish or business and the market.”

Before the President spoke the market encountered severe liquidation that coused tickers to lag. Prices broke 1 to 4 points with the market generally in new low ground since 1935 and the railroad average at a new low since 1932. The list steadied before noon. On publication cf the President’s speech the decline was resumed although at a slower pace. U. S. Steel was at 47%, off 2% points and 2 two-year low. Westinghouse Sold at 77, off 5; American ‘Telephone, 123%, off 13%; Case, T1%, off 3; Chesapeake & Ohio pre“ferred, 80, off 7; Inland Steel, 61, ‘off 5; Eastman, 141, off 4; Du Pont, -108%, off 2: Allied Chemical, 145, off 7%; Johns Manville, 66%, off 41%: Lima Locomotive, 21%, off 3%; eng Chesapeake Corporation, 30, off 3 points.

Business At a Glance

GENERAL BUSINESS -

American Petroleum Institute reports week ended March 19 crude oil output averaged 3,433,550 barrels daily, up 51,450 from previous week; gasoline stocks, 93,192,000 barrels, a record high, up 108,000 from previous week. Bureau of Internal Revenue reports February output ‘of small domestic cigarettes, 11,492,025,877 Vs. 12,328,242,420 year ago; cigar production, 338,887.418 vs. 362,935,056 year ‘ago; chewing tobacco and smoking tobacco output, 22,239,585 Ibs. Vs. 23,518,835 year ago. Edison Electric Institute reports week ended March 19 electric output 2,017,653,000 kwh. vs. 2,014,729,000 previous week and 2,211,052,000 year

ago.

CORPORATION NEWS

Bonwit Teller, Inc. fiscal year ended Jan. 31 net profit $191,672 equal to 72 cents a eommon share vs. $183,728 or 73 cents year ago. Bunker Hill & Sullivan Mining . Concentratinz Co. 1937 -net profit $2,590,461 equal to $1.94 a common share vs. $1,596,185 or $1.18 in 1936. Engineers Public Service Co. re-

Hog Rates Hold Ten Cent Gain; Receipts Small

Light receipts forced a 10 cent recovery of Tuesday's loss on all weights of barrows and gilts at In dianapolis, according to the Bureau of Agricultural Economics. With most other centers working upward under curtailed marketings, the advance here was not sufficient to bring local values out of a relatively low spot. With demand con= fined largely to only immediate requirements, however, sellers have

‘been at a handicap to dispose of

marketings at more favorable levels.

Practical top ‘of $9.25 for best

exgeeded only by a part load of strictly choice 213-pound averages which were awarded a 5-cent premium and put the extreme peak at

$9.30.

ing from $7.40 to $8, “with good lightweights scarce and quotable above $8. Only well regulated receipts of fat cattle -kept the price structure from slipping to lower levels here at Indianapolis today. Killers, especially local buyers, wanted supplies only at price reductions, but curtailed marketings, coupled with a fair shipping demand, resulted in a steady to Weak market on all classes. There were spotted lower sales, especially on beef cows and steers. A car of good to choice 1175-pound steers sold on eastern account at $9, while a few piece loads steictly good medium weight steers made $8.75. A car of good yearling type brought $8.50, with other steer sales largely $7.75 to $8.25, some plain light steers and heifer weight steers $7.35 to $7.50. But light heifers scored $8.35, most heifers $7.50 -to $8. Best beef cows stopped at $6.50,

Young butcher, type hulls reached $7, but most sales bulls” were made at $5.75 to $6.50. Vealers lost 50

and $10.

encountered only a steady trade as dressed values declined further. Top of $8.65 was paid for finished western lambs, with best natives at $8.50 and common to medium sorts $6.50 to $8. Other classes were largely absent, choice handyweight slaughter ewes quotable up to $4.50.

Mayeh

ports week ended March 19 electric | 15

output 48,140,000 kwh. up 4 per cent from ycar ago. Federal Motor Truck Co. 1937 consolidated net profit $52,754 equal to 10 cents a share vs. $185,302 or 37 cents in 193€. General Maiors Corp reports February sales of cars and trucks to dealers in the overseas markets 30,335 units, highest February volume on record, up 10.3 per cent from year ago; year ended Feb. 28 sales 369,213 units, up 13.3 per cent from year

ago. General Theaters Equipment Corp. and subsidiaries 1937 net profit $1,199,415 vs. $053,509 in period June 1 to Dee. 31, 1936. Kansas Gas & Electric. Co year ended Jan. 21 net income $1,288,164 vs. $1,267,975 year ago. Market Street Ry. Co. and South San Francisco Railroad & Power Co. year en jed Jan. 31 net loss $188,848 vs. net income $230,312 or $198 on 8 per cent preference in arrears year 4go. Public Service Corp. of New Jer-

sey and sutsidiaries, year ended |

Feb. 28 net income $23,842,983, equal _ to $2.54 a common share Vs. $24,910, - 933 or $2.73 year ago. Sears Roebuck ‘& Co. fiscal year ended Jan. 31 consolidated net profit $30,822,248, equal to $5.58 a Shes v8. $30,660,198 or $5.60 Year

A tandardzas & Electric Co. and subsidiaries (excluding Deep Rock Oil Corp. and Beaver Valley Traction Co. and their subsidiaries) year ended Jan. 31, $3,098,736 vs. $3,640, 865 year age 1)IVIDENDS California-Oregon Power Co, $1.50 on 6 per cent preferred and $175 on 7 per cent preferred pay“able April 15 record March 31 vs. like payment: Jan: 15. General Theatres Equipment Corp. 25 cents payable April 11, rec-

ord April 1. (Copyright. 1938, by United Press) memee——————

FOREIGN EXCHANGE

oR March oa ne P sre gland {1 he io? | nada ( } ance (fra

hae

‘ives J

oe 1] -

(ms . . travel a . getiang i cine olland -Sweden : 3 OLWAY * ne) nma

i " LOCAL. PRODUCE

hi ens. ji beat

by Bs

Tavec.

I} honed Lh orn wy, dro 1% to 2%

osters, 9c 1, irietly run

case weigh | 220 85 1bs., gross. net Seducsion ot 1s cents Hor eich full -ase under B85 Ibs. will be ma tter—No. *, 32% @33c; No. 28% we." Buertit No. 1, 2%c; Ne ah a

See “inal Edition of the Times. for

es Ry Se to ca

choice . choice... choice. . choice. . choice. . choice . choice. .

Save ouooMo

(290-350) good Packing Sows—

(275-350) Good

sefactssin

£3:3:100 NM 0 NO D3 DIOR R LW Sas 8333238

(SISSRE SHERI TE]

RE®H | ©DOODDD

83sh

3 ave (275-550) Medium Slaughter Pigs— (100-140) Good and Shove, Medium

8 23338833333% g2 69933508000

3 ND min WMD PO

_—Receipts, 857— Chiof

) (900-1100) (1100-1300) (1300-1500) 750-800) G ( 00-1100) C {i 1300) C 1300-1500) (750-1100) 1130-1300) (725-1100) ‘Steers and (550-750)

ssessssesss cessevesntsas

tescsscssss es

aman enecoo00 hgaauaaasss

fedium ( ommon his Heifers—

780-900 830-900) Sted (550-900) Co saps senes

All, Weights Cows Medium S080 N snr essesses fommo cutter ‘and ‘tie ren Bul Yearlings excluded ( lp weights) —

All wei bata Ay abt) aed Medium

EE 33 eI} SAR

S93 2 SIINWIIB@BD

232200 oo

$css scar rabensnnee

sooo

ie. Si All weight =ZacHints, $00 we 8s) Ch {ai weights) ) Medtim

v et aed

cevesaan Ssssvesse

cul jand medium “irra seuss : Calves —Receipts, 383 oice

288% 8983 2333.

(250-400)

0999

ata

Btebros Fons and Stocker Cattle

hoice ssrsseabone EE noice .. said Tae edium (EAE RRR NY} Heifers— Goat boven

880-750) and ¢ . — n, ee.

89 9389833 ot @Imnme aja) «3 oe On

ong ‘oa andes T 233% 83 833338

és —Receipts, ceipts, 326—= oice C8100 sab BBsbtbR : um “LL COMMON eervvrvernes .

Shani mM .ateee 3 ug 4

poRcAGO, Maren 38 23 iT: ai Hogs

Markt "10 to 30 osmta a her; top oJ%40: 280° 1bs. ihe "Ibs.. ‘$8.8 9.10; good 350- Ps 0-380 Be sid | ais: hy: Bach 5, Fa.38 LL

®~30000

“sss

S, "$9. : Serings. mars heifers up to $9.65; li heifers turning AA Kinds:

a s bulls, 10 to lower? hi 2 offeri: to Wo, vy offerings barely oftady at

fio choice

25.1 weighty vealers Rb ‘at $10 on wiz ts, 7000; bet hint, 100; fons direct, Late keide 00-1 fre

3 10 cents ade tlow: in aroing $8.28

to. choice, To) Ibs. dl 4: : dap at more lower: Marc steady to. 1

cents and H A EoL ion 10 "3 (©. hi iy Bulk 200. 2330, 0_1bs., Je 20; 220-240 1 oy St

oe od 66.200 “lee. 8h Snes ;

$7,756 qs

oA Pc Hons

‘and better; mos tly, $7 et: heav 88.65: y

Cafe. st 083 IH Tammie”

pMarEet, 15 gents oils 10 Dio 180-200 - 1! 0 360 8.. A830: 185 "280-300 hy 1bs.. 5 18; 300 oud $850: 325 ibs, a" 45: 325-350 lbs, $8.25; 140-160 Ibs. $e 0; 120- 4 1 $8.35; 100-120 1bs.. Tammie. sa. $1. a; stags, $6: Joa io: jambs

| Sint, 2800. ERs 470 ae west Bre: Over. 25: aii on 1

100-140

bia

£10-220-pound butchers today was | gifs

Packing sows recovered 15 |&5% to 25 cents of yesterday’s loss, bulk- | Cel

Colgate-P-P see Col

with other fat cows down to $5.25. | pun

cents, with hnadyweights at $9.50 | Ea}

Sharply curtailed lamb supplies | Ei

8333

852 ym bE

2s323 3323 - Bem 22

Loco pf 58 Am Mach & Met ’ Metal Pwr & Lt

Rad & 8S.. Roll po - 23

=r Sumat ,..

: [ oa B2AR2 CORA

T = Am Wate oe Am Woolen of.. inaconds eris. 48

eves

Amour Artloom Mishison ree be 1 Refinin

Aviation: Corp.. ry

eS Rs SIEREES

Bald Loco ob... 5% Balt & Ohio...

Balt & O pf....

Boeing A Bohn* Al . Br. Borden 11 Borg-Warner... Bower RB .... Briggs Mfg .... Bklyn-M _T.

A A SAE Sa : =I Ure “IT ROINI NTT ERFEE TIE

- Nalawrar

8 we - 2

uleva “ Burlington M .

Canada Dry .. an Pacillc wary . 3 1 Cerro de srtain-teed

IMBP&P of.

& Nw.Ry . a R18 Fp 14 BE Br iesnnue 4% yI1&P. 11% 8% 6

m Gas Se Gor” Pictures vie 10% Credit . 30%

200009098 Gg Sa

Cons Aircraft . Cons Edison ... Cons Edison pf. s Oil

Con Gon. Textile .... Cons Coal vic . »

Cont Steel Crane Co _. Crown Cork"

Cutler-Ham ... 1

Deere & Co ... Del & Hud

Mines .. i 4

111 Pont .ecees "108

20%,

Fan R Mill .. o 14315 TU 15% . 23 In

Bs Eng ub 8 es i Equit Bldg .... 2

at Elec& Music ‘md Elec Pw Sl

ir Mors

Fe Flintkote 14 Foster Wheel .. 14%

Am Tr ... 343 n Electric .. 34% Foods .

t West ng S26 % reyhound pi. 9% uant Sug .... 1% nis, | . 19%

Harb-Walk .. 19% 1

Bane RwBen aa

Hanan ra

+H PELLET ELI

tht

| -

oe Snes

tHE HELE

i++0EL

tell a

#R FIFE FES

(RARER RERE AE

nse

. * » eo

Fone

Year ago High, 1938, 32.33; AY 22.62. High, 1937, 64.46; low, 28.91.

Month ago ... Year ago .... cqvsees High, 1938, 21.86; low, 17.56. High, 1937, 87.54; low, 19.65. : 90 STOCKS Yesterday rss ass tnt ene

tren soesvenas

‘Month 880 ceacceccvcscsccns Year ago ...... Higk, 1038, a4.42; High, 193%; 60.67;

vossesosess 8650

low, 36.14. low, 38.87. -

+117

ses 96.74 «1.08 a Week: ‘ago EE 38.98 1.54 . 48,05 +100 +0.57

% 3

‘Buh Low. Hayes Bay in 1%

Hecker Prod .

sous 11

® F

FCT oe

wiy8 owe ‘Sound ...

a Awe

P+bLLL:

Ind Rayon .... 3% Inapiratn © . In > piratn Cop Ld chem

Iieriake Tr .oe nt Harvester .

nt P .. nt P&P pf ... nt T&T

Int T&T. For. .. Island Cr Coal. 20

8 BN SF

» o>

Kennecott Kroger G

a0 22 55

Leh V ] ot. va BP

LOEW'S ...ceo0ee Lorillard 1 Lou A. Ludlum Stl ...

tt FofE FF CANCUN DO0ODLIDY

arcaibo Ex .. ay D S .

Mead, Corp. ons 0 0 Mident Pet ih o-K Tex ....

ALS

- REI MID ot £0

Beane

FE ISS ABI ID SER

Bags Lb Ld C3 oS WSS

bn FN

aahbe eR

| pa paracn «INDI Sete

—O— 11% Oliver Carin’ Ea 3

Dat ira .e

3 i

‘Glass 46% Hh

ime

Pacific Lt “4 ft

Sacific M. wil 7

Sackard baramt Pict ... - a Para Pic 2 ot 7 Park Utah 2Vs arke Davis eo 34

athe patito Mines’ “10 e 66

STN

Radio-K-Or ... Rem-R and .. eo Mot Republic 3H + Revere gop - Reyn Met Reyn Sn n Tob

(Inv. Bnkrs. Cont., Ine.

- ae VHS WIS

ER, AST wo" Shel 3100: a

tpt 89° 0h 0380 Os LABOR 11 GARD

. ailasi :

- o 00

han ‘oars, art, 1k Wr less than iss checks

PE eceipt age-pack py “1s 6; e-pack Buier_aMatke sume

g Ei STR

Soa > soore), steady

Market, , Shek ks,

trucks;

he; Phy suk ors, i fryers,

Be Twills Hise; conp-_Suppile.

ERE Ty i TNE

th Di

Ohios, 1.05. By Ra sie a fair: © ik B G

rhe inal’ sre 8.

811.

SE a roe th ough March ea) pared with % Yea Ee go

INVESTING CO.’S

ng fate

2338; reais: agit Duss, 14% |

)

ROS! I 1 = 1S 50 Se Bo a =

Sermo STIFGS

oF put

DANNB-IWARID Sabie

wif

Se SaaeORan S aod

- CHICAGO os

; recsi Bats can

EEL

8 50@1.

(Arrivals, 102; on track, 296; San |

U. 5. STATEMENT ji at

8 WASHINGTON, Marth 23 (U. P.).—GovFeLi Yor ne

“Ded Je

beste

Rey. Richfield oil . Ruberoid

3 fateway t Jos Lead . Blnkites Diet Schu y

ite R AD'S Alr LL ars Roebuck. Sher on Oil. .

Upp

2 ‘20

so Co

84 12 16

eS aa

a RR

PE PRR EH

EEL

forge

on at30.

h uth R Dal 1a ‘Sparks Re w 2Ya

Spence: Boerr y-Co eve 17 Soiege] In. vers 3

Std Drand sid Fh Lo .

10 333 Pod ~3 30 «IDIN =F

Sian ous

seer eqn

FETE

oh Ce 20. aos SS

Soa Eas oss

. * .

« .

HHH

LHF

ov «a ? . Ee SE SS seer ow

RETLL A v3 - Ve

Vanadium .... 18 "1B

LOCAL ISSUES: (By “tloving. quo Bond & Share Corp.)

s | Twenty-one silver found in his pocket. %

: Australia Re?

Jo not Sere.

flee

: 4 Sheet

com Prices ri Trend; Receipts, 235 Cars.

“CHICAGO, March 28 . P—A weak turn in the stock market and reactionary thridencies in Buenos Alres scared traders into selling

«| wheat today on the Chicago Board |

of Trade ‘after an early show of strength. At the end of the first. hour wheat was % to % cent lower, corn was unchanged and oats unchanged. Pressure developed “only slowly,

| however, because of the influence

of Liverpool, where traders, encouraged by firmness of Australian wheat,

3 | did considerable buying. The down-

turn in Chicago erased all of the

early gains as profit-taking ap-

‘| peared after the initial break. Ex-

porters were in the market during the early part of the session but most of these traders held on to su s d ticipation o Overnigh ported. as jc ie oe unimPt as far as U. 8. grain was concerned. Portugal was reported in need of 20,000 tons of foreign grain. Wheat receipts were 16 cars. Corn prices weakened and all early gains were lost. Around the previous close, however, the downturn was temporarily halted. Corn receipts were 235 cars.

WAGON WHEAT ony Lg are Pa for No. 3 re 9

r gr re 2 Joerlt Cash corn, new BE 3 Show. 460 45¢. A

— ARGENTINE GRAIN ‘BUENOS AIRES, March 33 LAP.) Grain futures opted drm, Wheat—ABil, 1, unchanged: May $1.00%, inchangea, orn—May, 64c, unchanged; June, 83c, unchanged. Oats—A Hl, 33%e, uiona 80. Flax—April, $1.28 unchangéd $1.28%, unchanged.

RAUB REPORTS RISE IN INSURANCE SALES

New paid business of the Indianapolis Life Insurance Co. for the first two months of the year was 28 per cent greater than that during

4 | trie same period of 1937, Edward B.

Raub, president, announced today. Insurance in force in the company exceeds $106,560,000, Mr. Raub reported. During 1937, insurance in force increased $5,310,000, and from Dec. 31, 1929, to Dec. 31, 1937, company assets gathed 95 per cent and surplus climbed 103 per cent. Indianapolis Life, a legal reserve mutual company, paid $12,743,000 to policyholders and beneficiaries during the last eight years, aseording

| Mr. Raub.

TRANSIENT HOARDS CASH, SLEEPS out

. GUELPH, onl March 23 (U. P): ~—Bruce Willis, transient, does not believe in squande ring hi§ worldly wealth on rent in: perry ‘of the frigid climate, Found asleep on a'sack on the roadside near here, Willis was taken to Guelph police station. dollars were

DRUNKS NOT TO GET COMFORTS OF JAIL

ROGERS, Ark., March 23 (U. P.). «~The Mayor has started a war on arrests for drunkenness. “From now on,” he said in a statement, “drunks will not get to loaf in our comfortable jail. I'm going to put them :to work cleaning up the

grounds on the site of the local|

artificial lake which is under cone struction.” -

N; Y, Bonds

BOND PRICE INDEXES 2 20 20 6 ; _- Inds._ Rails Utils. Bonds’ Yesterday ..... 108 55.7 909 3 Week 280 oie 80.1. 56.7: 76.1 Month . cess 818° © 65:7 79.9 Year ago ...... 92.4 98.4 9%.1 1088. high ..... 83.0 - 70.0.. 954 825 1088 low shee 79.4 54.6 90.6 94.9 (Copyright, 1938, Standard Statistics Co.)

NEW - YORK. March 3 3 @. Hopi

opened irregular Fgh ; Th

91.4 or’ 1026

ne Sera,

edesenios

Curb Stacks

By United Press

|r aes # © mig

Ohangs

isankess 4

ese ees

ihe

Foo PRICES

Cabesiannssnase. : Sbssscsvsnecess

‘Wuvessuessnsso in bes

impose a compulsory toll on trucks to finance an elaborate Federal super, highway system focused attention here today on confiicting § | state laws governing trucks: Introduced by Senator Bulkley |. Ohio), the measure would set up a $2,000,000,000 Federal ‘corporation to hegin’ construction of ‘a transtinental highway system, To make the project ‘at Jenst partially self-liquidating, Senator Bulkley ‘proposed that trucks in ine terstate commerce pay tolls on the roads, He said this would accompiish two things: “Ty "Bees Uniform Laws tL Truck rate structures would be

would be made between what trucks pay for the use of highways and what railways pay fog acquiring, pullding and Pa ntati -their transportation lines. : 3, The toll roads would aid in making more uniform the present state laws governing trucks, On the second point, Frank Fin--ney, Indiana Auto License Bureau: Commissioner, agreed that many state laws now are in conflict and declared Indiana officials were seeking to solve the problem through reciprocity agreements. Agreements of this type already have been made with igan, Ohio and Utah, he sald, and negotiations now are being oarrisd on with Kentucky. Trucks. complying with the regulatory laws of their home state are allowed to operate in other states that are parties to the agreements without paying. additional fees, he

said. Indiana Lenient

Governor Townsend said Indiana “was being very lenient” in making these agreements, since, because of its geographic location, this state is a passageway for much truck travel. “When we made these arrange‘ments, we knew that from a dollars and cents point of view we probably were getting the worst of the bargain,” the Governor said. “We be- ’| lieve, however, in co-operative efforts of this sort.” Mr. Finney said the Kentucky agreement probably will not be completed until the Legislature, now in special session there, takes on on pending vehicle licensing bills

Regulations Vary

A recent survey shows numerous conflicts in state regulations. As to length of singlé unit trucks, Kentucky allows only 26% feet and West Virginia 35 feet; Maine 26 feet and Vermont 50. feet; Nevada 60 feet and Arizona 33 feet; Maryland

33. feet; Rhode Island has no restriction, but Massachusetts allows only 28 feet. Length restrictions involving trailers and other Zetuple units are even more bewildering, th e' survey showed A truck may be 102 inches wide in Rhode Island or Connecticut, but must shrink to 96 inches in MassaShusetts or New York. The 96-inch t if the truck crosses into South Carolina it must reduce to 90 inches.

Coeds Protest ‘Nonsteadies’

tested today against formation. of a “non-steady- union” College. The foun Brockton, ts junior and Wwrestling captain, declared it was “hard enough to get your school work

to stay in and study when you feel

sunshine. then you're licked. Protested He'en Marquis - of Leominster: - “A fellow is certainly old enough by the time he gets to college to determine for himself whether he wants to go steady

girls in solitude every night” - Added Blanche nt of Boston: “When college men go steady, they have more time to study. They don't spend Half their time at a telephane, getting: bined

AUTOMATIC RENEWAL

~Commatelal bell

‘are sre Spin lhe House, Tatersint 4|Lea* Somimerve Oommine tap 48 sues She vide for automatic

airlines which held licenses on Dec. 1, 1937. 4

‘A pending'U. S. Senate bil to]

zed and a more even balance |

Tufts’ Union of |§

* MEDFORD, Mass, March 23 wv. LH P.).—Jackson College ‘coeds: pro- | Hii

at ~Tufts| oF Joseph Sweeney of |

done in the warm spring weather, |. i

like going out and enjoying the| Hi But, if you go steady, J

without luring him into joining a | [il union which will keep us Jackson | Hi

-down tor MN

OF AIR PERMITS URGED.

‘WASHINGTON, March 23 2p, Py. |

gerd

by Rép. Clarence Les

‘A R. McGanduish, president: of Lithograph -: Corp. Billadelphia; who will speak at Advertising Club luncheon Thus at the Columbia Club. -

Y. M. Speaker

Refused Ward.

County Commissioners today said

no part of a $60,000 trust fund left

in 1864 for the education of Indiana Negro children would be used for construction at the Colored Orphans Home here. Their statement came after the Rev. George CO. Crocker, a Baptist preacher and Sunday School teache er at the home, filed suit in Circuit Court on behalf of Flossie Bell Moore, 16, his ward. r The suit seeks to enjoin the Com- ’ missioners from ‘using any of the fund for building purposes, requests that a new trustee be named for the fund, and that the Commissioners be mandated to answer all questions concerning the money.

Other Defendants Named

Also named as defendants were Clayton B. Johnson, as chairman of the Board. of Directors of the Friends Church; Isaac Woodard, another board member, and Charles A. Grossart, as County Auditor. Mr. Johnson declined to comment

{on the suit. Mr. Woodard could not

be reached. Clarence I. Wheatley, a County Commissioner, said: “None of this money ever has been used for building purposes, and none of it ever will be. The will doesn’t permit it.” .Dow W. Vorhies, president of the Board, agreed with this statement. Friends A officials said the fund, established in the will of John

| Williams, Salem, Ind. was intact

Emil Rath, public schools physjcal education director, who will preside at s& luncheon-meeting at the Y. M. C. A. tomorrow noon,

opening a two-day conference on.

physical education.

DR. PRATT TO GIVE ~ LECTURES AT I. U.

Times Special. - | BLOOMINGTON, March 23. — Dealing with the philosophy of Na ism, Dr. James Bissett Pratt, American philosopher’ and a member of the Willlams College faculty, will ‘deliver the Powell lectures at Indiana University March 27 to 30. Dr, Pratt is the third visiting. professor to fill the chair of RE hilosophy established at Indiana University by the will of the ‘late Mahlon

Powell of Wabash. Prof. William | Ch

Ernest Hocking of Harvard opened the series in 1936, and last ‘year Prof. Ralph Perry, ‘also of ! Hava, gave the lectures.

reports are made to thé

and solvent. They said that regular Washington County Court, and that the next report is due in 1039. The reports, wag said, are filled every three.

Im his will, Mr. Williams, a Negro, named William Lindley as trustee. The will specified that the fund was to be established for the ‘education of Negro children,

Claims Aid Refused

In his suit, the Rev. Mr. Crocker alleges that the trust fund, originale ly $5000, has grown to approximately $60,000 and that he demanded aid for Miss Moore from the County Commissioners but was refused. Commissioner Vorhies said the money wag refuséd because it was being used for educational purposes at the Orphans’ Home. The Rev. Mr. Crocker said the Friends Church is‘ providing = $12 to $14 yearly for Miss Moore's books and lunches, but that this amount is inadequate. She is a sophomore at Crispus Attucks High School.

‘has no| i restriction, but Virginia allows only |

prevails in North Carolina, but |

‘Where TIME is a factor In order - hero leisure in life, the

a businessman must take short cuts through the complexities which everywhere sur.

round him. He has neither time nor energy to spare for duplicated efforts —for cumbers.

some routines.

"This directness of abproath} is doubtless partly responsible for the increasing rum-

ber of personal checking accounts which businessmen are opening with the ri

National Bank. They know the Bank’s “sonnel and principles, they, like its direct,

courteous methods, and in many cases they already use the Bank's. services in behalf of their business organizations. For these rea-

sons they find it logical and convenient to

‘have their own personal accounts with the

same. thoroughly modern, completely 5 fat: sommivial gan.

AMERICAN

mam

at Indinwapolis

ONAL BANK