Indianapolis Times, Indianapolis, Marion County, 15 April 1938 — Page 17

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Ceremony at 'The Rock of Ages’ Is An Experience of Eerie Beauty the Theater Would Find Hard to Match.

~*~ From Indiana—Ernie Pyle

abo

(CARLSBAD, N. M,, April 15.—At 2:30 in the afternoon you are getting close to the end of your pilgrimage through the Carlsbad Caverns. For hours you have wandered in a world of half-light, amidst millions of shadowed

fantasies.

You have lost all feeling of reality. You

have stepped away from life; you have become a

part. of fairyland. The trail rounds a big rock, and. . ahead of you lies a white slope,

silence and com from the children.

Mr. Pyle

plete

roofed for overhead by solid rock which makes a dark sky. light is dim. The dark world widens as you

: ° climb the slope, and finally you : reach a height, and stop there with . your fellow travelers to rest on the.

dusty white rocks. A large man in green uniform

steps forward and stands at the

foot of an immense “candle-dripped” stone column. - He is Col. Thomas Boles, superintendent of the caverns. All day he has kepl in the background, one. of .the .crowd. But now he ‘takes charge. He asks for pttention. . He gets it, even

.. Col. Boles makes a little informal speech. He tells us of the unbelievable things we have seen. He dwells upon the great column behind him. ; "Here it stands, tall as a house, big around as a

room, hundreds of tons in weight, beautiful as Heaven

—yet formed so slowly that between the time of the Pyramids and today it has grown not much more

than the bulk of yeur folded fist.

And now, says Col. Boles, we will see what it was like while .all thts was going on, in the past mil-

of years. ‘He asks that

cigarets be doused, that no one talk

or whisper. He waits until the crowd andsthe cavern are as silent as death. And then the lights go out. You have never known darkness until you have sat

Rar

in it 800 feet below the surface. a faint glow somewhere, a shadow, a movement. There is noth! igi = ° Ee

Four {angers

You look around for

Are Singing

A A then softly come the notes of a song. Four

rs, unnoticed, have dropped back down the

trad, and somewhere off there they are softly singing

“Rock of Ages.”. Coming so weirdly and gently out of

the darkness of that cave, it seems one of the most beautiful things I have ever heard.

Then, in the far distance, suddenly come dim re- | flections of light. A Ranger has turned on the lights |

half a mile away, at the far end of the vast cave room. A few more notes go by, and then comes a new, nearer light. Another 1000-foot section has been

switched on. .-

again ‘up into the present. They say. government is stoogy,

And then at last, as the Rangers’ voices sink almost to a whisper, the lights come on all around us. Not a single light itself can be seen, but there is the reflection around us once more, and we have stepped

routined, un-

imaginative. Most government is, I guess. But not the government of Carlsbad Caverns. A community sing would: have made this spot ridiculous.. A° wrong word, or a harsh note, would have broken the spell. An archeology lecture would have been the worst of bad taste. Over-dramatiza-tion would have made it a Coney Island side-show.

‘But“af it is, ev

matic.

en the theater could not be more dra-

My Diary

By Mrs. Eleanor Roosevelt

President Is So Busy First Lady Has Little Chance Even to See Him.

ASHINGTON, Thursday.—1 thought I was quite busy yesterday afternoon! “the Campfire Girls and was asked innumerable gques-

I received

tions about the trees and birds around the White

House, few of which I was able to answer.

Fortu-

nately, some of the people in charge of the grounds knew the answers. AN Then I motored out to the ‘Washington Country

. Club to have tea and to talk briefly to a group of or-

ganized women voters. When I returned I didn’t even

* wait to find out if my husbafid was going into the pool.

I dashed into my bathing suit only to discover that he was still engaged with a large group of gentlemen and’ that I would have to swim alone. He was not ' ‘back in the White House until 7:15. In the meantime, I had to go out again to talk on

a radio program for cancer education.

It seems to

me so vital that people should realize that immediate discovery of cancer is our only hope for cutting down the death rate from this disease, which has been so

hea

‘during the past few years.

should be familiar to everybody, so that as few people

as possible will s These are suc

uffer through ignorance. h busy days for the President that 1

decided I had ‘better not mention my own inconse-

quential activities to him. Immediately after his dinner, he worked: until the wee small hours, whereas 1,

with Mrs. Scheider and various other friends, attended

- appear im

an annual dinner which Mrs. James Helm gives us in her charming apartment. =." ~

I do not know anyone who can think up more interesting and delicious dishes than Mrs. Helm’s cook,

Mary. Mrs. Helm always has a very congenial group

and we spent a happy, pleasant evening together.

Seeks Information on Housing It was late ‘when I came home and looked into the President's study, but I realized that no frivolity should intrude there and retired quickly to write a

few letters and go to bed. A woman named Maude Nichol, of Detroit, Mich,

has sent me some cards with colored plastic rings to

be used when knitting to mark the places where one

should ‘add or take off stitches.

I am so delighted

with them that I think other knitters may be inter-

ested in hearing about them. ° Miss Catherine Bauer, of the United States Hous-

ing Authority, came over this morning to tell my press conference about .some of the new housing I really wanted the information myself and encouraged the ladies of the press to ask questions in order that I might have the benefit of the information which such expert gquestioners would

projects.

solicit. Now-I am about to lunch with the wives of

the ‘members of the 75th Congress.

‘New Books Today

Public Library Presents—

HE heritage from his mother, who. had always ‘wanted to see the beckoning world, gave.Frazier | ‘Hunt his start on the adventures he relates in ONE AND HIS ATTEMPT AT EDUCATION The first peacefully :philosophical chapters, which tell of his youth in a small

AMERICAN (Simon and Schuster).

‘3

Indiana town, of his years at the University of Tlinois, and of his experiences as owner of a country newspaper, are merely an introduction to the record

of his travels in‘far flung countries.

“He: covers the Paris front during a dangerous sled trip through North Russia after che Revolution; he carries the first actual copy of the peace treaty from Paris to Chicago; he is in the midst _ of the Irish trouble. But all the wars and revolutions portant only as a background for the people It is Mr. Hunts flair for making friends : g he meets—Stalin, Gandi, Sun Yat | Sen,’ Villa, the Prince of Wales—and for interpreting | their personalities, that makes his autobiography

fasciigiin 8: ~ At home once m

ssion, a in he gene oat of the people he knows. Labor share-groppers, two Presidents, and educators form’ his ‘laboratory of humanity. cation leads him to

involved.

with every person

The

2 Article No. 21 "On the SEC a

(Supervision ‘of the securities markets, something new in Federal -

legislation, ‘was forecast in President Roosevelt’s first inaugural address, a large part of which was devoted to a castigation of “the unscrupulous

money changers.” “They stand indicted in the court of public opinion,”

he said. “The money changers have fled from their high seats in the temple to our civilization. We may now restore that temple to the

resses of Franklin. D.

The symptoms -

the war; he takes

ore in an America bewildered by ‘voices in his articles the ‘innerleaders,

His experiment in eduthis conclusion: America must “and through wider knowledge;

ancient’ truths.”

public. buyer beware), the seller also beware.”

stocks and bonds, true information as to bonuses, commissions, principal invested and interests of the

sellers.”

The Securities Act. of 1933 is designed to compel full and fair disclosure to investors of all of the material facts relating to new security issues. publicly offered or sold through the mails. or in interstate commeree. :

Registry of Issues ©

The Act requires that, with certain appropriate exceptions, all such’ new issues -be registered with the Securities and Exchange Commission by the filing of a statement setting forth specified information. The required information, which is placed on

Lincoln ion 'Liberty' Quoted to Du Ponts

A Comment of President Roosevelt From His Forthcoming Books. :

(Editor’s Note — Speaking at Wilmington, Del, on Oct. 29, 1936, near the end of .his re-election campaign, President Roosevelt described “the kind of liberty which our’ Administration has sought and continues to seek” by reading some words of Abraham Lincoln’s, spoken at Baltimore in "1864. The excerpt included: - : : “The shepherd drives the wolf from the sheep’s throat, for which the sheep thanks the shepherd as his liberator, while the wolf denounces him: for the same act, as the destroyer of liberty. . . Plainly the wolf and the sheep are not agreed upon a definition of the word liberty; and precisely the same difference exists today among us human creatures . . . and all profes- - sing to love liberty.” Following is the President’s ' own comment on the incident, never before published, as it appears in his books.) Wilmington is the home city and Delaware the home State of the du Pont corporations and affiliate companies, whose principal owners were instrumental in organizing and financing the “American Liberty League,” composed chiefly of :rich and powerful ‘industrialists and financiers. The chief purpose of the organization was to oppose and defeat the New Deal. That is "the reason for the selection of Wilmington, Del, as the place to read President Lincoln's discussion of the definition of “Liberty.” :

rights reserved under Inter-Ameri-can - Copyright Union (1910) by Franklin D. Roosevelt: distributed by United States Feature Syndicate, nc.

Recovery required safeguards against “a return of the evils of the old order,” he continued. One of the safeguards was “a strict supervision of all banking and credits and investments, so that ‘there will be an end to speculation with other people’s money.” : ; ? An early message to Congress, on March 29, 1933, started this idea on the way to legislative enactment, proposing a law requiring that full information about new security issues be made available to the buying . It would add to the ancient rule of “caveat emptor” (let the the President commented, the further doctrine of “let

A law embodying this rule of “caveat vendor,” the Securities Act of 1933, was passed and approved on May 27. Following is the President's own hitherto unpublished comment on this unprecedented legislation, from his forthcoming five volumes of “Public Papers and Addresses.”

THE need. for reform in the conduct of the financial markets of the nation had become fixed in the public mind in the years following the stock market crash in 1929. The public demand for reform was reflected in the Democratic Platform of 1932, which stated: “We advocate protection of the, investing public by requiring to be filed with the Government, and carried in advertisements, of all offerings of foreign and domestic

file, must include the purpose of the issue, the terms. of the securities, the history and. finan-

cial condition of the issuing: cor= poration, and material informa-:

tion regarding its management.

The purpose of this information

is not to express any opinion as to

the soundness or value of the se- - curities, but to provide data upon

which the average prudent investor can base an intelligent de-

cision. To that end, the Act re= quires that every purchaser be . given a prospectus based upon the

registration statement.

Up to the end of Octobe "1937, 3

nearly 3500 applications for the registration of security issues had been filed with the Commission. These applications covered more than $13,000,000,000, worth of securities. : Of these, issues totaling over

" $100,000,000 were denied registra-

tion by the Commission on the grounds that the information filed was either false or misleading, or

~. that material omissions of fact existed; "and, in addition, issues

totaling - over $500,000,000 were withdrawn by registrants who were uhable to meet the requirements for full and fair disclosure. The legislation has done much to eliminate the economic waste and the loss\to investors resulting from the overnight manufacture of security issues, the flotation o: issues without adequate disclosure of facts, and the pouring of capital funds into fradulent promotions; and it has brought.new standards of accounting and disclosure into the field of finance.

SEC Created ;

The administration of this Act was originally given to the Federal Trade Commission, but was later transferred to the Securities and Exchange Commission organized pursuant to the Securities Exchange Act of 1934. (Editor's Note—The Securities and Exchange Commission, or SEC as we know it today, developed in two steps one year apart. The first Securities Act, described above, merely required the registry with the Federal Trade Commission of important detailed information about new securities. ; The second step was required, ‘the President wrote to: Congress on Feb. 9, 1934, because, “outside the field of legitimate investment, naked speculation. has been made far too alluring and far too easy.” While securities and commodity exchanges are necessary, the President went on, “it should be our national pelicy to restrict, as far as possible, the use of these exchanges for purely speculative operations.” He classed small margin speculdtion by the “uninformed,” and large manipulation by pools, both as evils resulting “in loss to the average investor.” Following are President Roose-

velt’s remarks on this -sécond

Securities Act.) ; ' The Democratic National Plat

ert

In the wake of the stock market crash of 1929 . came a long series of great financial losses to groups and individuals that eventually led President Roosevelt to assert “the need for reform in the conduct of .

"The Indianapolis

Cathe FRIDAY, APRILIS 198 (0 Tae F.D. R's Own Story of the | . D. Rs Own Story of the | (Contained in an authorized advance publication of his notes and com-

ments to “The Public Papers and Add Roosevelt”) .

"ss

_the financial markets of the nation.”

' panicky crowds, overflowing from brokers’ offices, - seek minute news from the: crashing market.

bal ’ Ed — Pe ERT)

W rE 4) Tn

4 Gn dd 3 ; rR i Matter. Av : : a Postoffice: NC diasapolls, Ind.

oe .

al Above, a scene in Wall Street, New York City, in: October; 1929, as

4 lx | 3 yo}

The Securities Exchange Act of 1934, which was ceeded the Securities Apt of 1933, which merely re-

approved by President Roosevelt June 6, 1934, placed stock exchanges under the jurisdiction of the Securities and Exchange Commission. The measure suc-

form of 1932 stated: “We advocate . regulation to the full.extent of Federal power of. . . exchanges in securities and ‘comniodities.” - Pursuant to my message, the Congress enacted ‘the Securities Exchange Act of 1934, which 1 ap-

proved on June 6, 1934. + ¢ © New Requirements =

The purposes of this: Act in general were threefold:. . =. 1—To correct unfair ‘practices “in tne securities markets. ‘To this end, placed under the jurisdiction of the Securities and Exchange Commission; manipulation. of

the prices of securities was. prohibited; and .trading.in: se= to

curities was made subject

the regulations of the. Com-

mission. era x

2—To furnish to the public. ade< quate information concerning

stock .exchangeés . were

the management and. finan- : cial condition. of corporations . whose securities are traded on ‘the exchanges. For this purpose a registration statement disclosing full information was

required for each

security

listed. on an exchange, which is kept up to date through the

filing of annual reports.

3—To regulate the .use of credit in financing trading in securi-

ties. This is accomplished by the regulation of margin requirements and is administered

“jurisdicti

Bok net a

by the Board of Governors of the Federal Reserve System. As of Juhe 30, 1937, the 22 leading stock: exchanges: of the country were .operating under the

Exchange Commission, and seven

_ ‘minor exchanges had received ex- '' .emptions. At the sdme date there : ' were registered with; the. Com- : ‘mission approximately 2850 listed: -

stock issues representing = over 2,500,000,000 shares of stock, and approximately 1500 bond issues representing a par. value of over $24,000,000,000. 3, oc The Act does not relateto commodities exchanges. . ‘=

Files of Business Leaders: One very important provision

of the Act is that which requires

every- officer, director and prinoipal stockholder in each registered company to make a monthly re-

port of any purchases or sales, gifts -or transfers of any. of the “equity securities.of his company.

Up to the end of June, 1937, the Commission had established 25,017 files for 23,340 such persons, -representing largely the leaders of American business and industry. Preventing the manipulation of security. prices. is. another ‘of the Commiission’s important functions. Proceedings for this purpose have already been instituted :in seven major cases. Involving nine large firms.” In addition, 60 trading in-

vestigations were, in progress at

of the: Securities dnd

quired the registry of detailed information about new securities. . Here is a scene on the floor of the New York Stock Exchange. ? : :

the end of June, 1937, and 13

cases involving violations of vari--

ous: trading rules had been referred to the exchanges themselves - for action. The. Commission is further constantly. engaged in: studying and seeking to remedy the excesses of speculation so injurious .to the general public, and as a result has . caused’ many requirements to be made in the rules:of various exchanges. i. The benefits of this statute and of the Securities Act of 1933, depend in:great part upon the vigilance of the Commission itself. . The past years have shown extreme watchfulness on the part of

. the Commission, resulting in a

much higher standard of securities trading than ever before existed. rd ite By June 30, 1937, 270 firms and

"individuals had been permanently

enjoined from violations of these statutes; 49 were under temporary injunctions and 33 had stipulated to discontinue their activities. For criminal violation of the two statutes, 375 defendants had been brought .to trial or were awaiting trial, of whom 99 had been convicted. : a

NEXT—The Indians.

5 4 D = ] 1 v re 0 i

‘Germany. On that day Mrs. Sarah S. Pratt went to church. Shortly thereafter she re-

{later the piece was published in The Living . Church. As far as this column is concerned, it’s pre= .

I | but. because of its spell—a spell which had its source

| in ' something

“ishes which kept the solemn three-

- environed, as that held in Christ

} was no semblance of mourning about the chancel; no draped altar, nor shrouded Cross. The rector sat by

- marching men, for every organization seemed on pa=- °

Side Glances—By Clark

i 4=15 Cook 1038 NEA SERVICE hc. REG. US DAT. OFF

es : ESL] i . MST LTT TT \ A RSE XI! :

|Jasper—By Frank Owen

. ” (—

CTT LLL LL Fen. I

Ll 2D

se %% 8

w)| >Plorida. : 1 |" &Mrs. Anne Morrow Lind-

| TEST YOUR: | KNOWLEDGE. |, =

'1-What is the popular mame | for the Rocky Mountain

sheep? . = = ip 2k 2—For what is Seth Thomds' noted? fo ph pe 3—Which state has extensive everglades? : = a 4—-Who wrote “North” to the Orient”? re 5:

.5—In law, what is idiocy? = 6—In which city is the famous Rockefeller Center? Fi

| 7—Name the - capital of Wy |

+ 5—A total lack of reasoning . Je ew York City. | {| T9-—Cheyenne. ~~ |

|| ASK THE TIMES

~ Inclose a ‘3-cent stamp for réply ‘when addressing ;

| Bob Burns Says—

-|> than farmers.

P : Second Section re

PAGE 17

By Anton Scherrer hs Mrs. Sarah Pratt's Description of Church Service on Good Friday in

1917 Is Prescribed Reading Today.

: * T was on Good Friday, April 6, 1917, that ~~ our country declared a state of war with

corded her impressions, and three weeks

‘scribed reading today, not only because of its charm,

largely in. soft reverie, and ended richly concrete. Listen! - “Nowhere in this broad land of ours, among the hundreds of par-

hour vigil of Good Friday, vas there, probably, such a service, 30

Church, Indianapolis, on last Good Friday. » “Christ Church nestles—a little Gothic gem—almost at the foot of the great Soldiers and Sailors’ Monument, said to be the finest one in America. And on this particular day it was the seething center of great war activity. Up its many steps climbed strangers, whole families visiting the city to see what was going on. They lifted their children up to read the inscriptions to the fallen, to the loyal women of the Sixties, and to put their small and inquisitive hands in the cannon’s mouth. : “Recruiting offices were all around. Boy Scouts, Funsten Reserves—a company of lads founded by Meredith Nicholson, a Churchman—Harrison’s Reserves, Lawton Guards, all organizations of young boys, were ubiquitous, some parading in squads, some in groups persuading the reluctant. “And in the very midst of it all was Christ Church with its comers and goers. Going into its cool green depths was like going into another world. . . . There I

Mr. Scherrer

- the prayer desk and gave the seven meditations, some of them warm from his own heart, and some of them eloquent words of others. And it was strange how some of these lent themselves to the stirring spirit of the day. wit ‘ a +

Bugle Sounded at Intervals “Through prayer and hymn and meditation there :

came at intervals the peal of a bugle, the shrilling of fife and drum, the calling of extrds, the tramp of

rade that day. But such was the tranquillity -within that these were not disturbing sounds; they bait adced . to the intense, quiet worship, the aloofness: A more intense spirit of quietude never brooded over a con= gregation. There was no coughing, no changing of pew, no motion save the handling of hymnal; and the going and coming was of the quietest. The singing was general, heartsome, sympathetic: ‘Go to d=+k - Gethsemane’ takes on an awesomeness when buglenote, fife and drum make its accompaniment. ' “The last meditation, the peroration over, the Nune Dimittis softly sung on bended knee, the last praver, the blessing; the. long pause. of worshipers who | seemed loath to leave that spot of ce. How eloquent seemed that. prayer-fraught silence-while the old bell of Christ Church, which had rung in another war-time, tolled 33 strokes, solemnly—Ilingering!”

Jane Jordan—

Girl Seeking Marriage Needs Place To Show Her Home-Making Abilities,

EAR JANE JORDAN-—My life has not been © gay . or glamorous one. I am 23 but I have r-ver had a date. My only associations with men hcve been in crowds at school parties. I lived with ny father until he died two years ago. ide was very strict with me and never let me go tn college. I am now living with relatives who, while kind, only 2iye me shelter because of my father. My scholastic record was very high. I do not smoke or drink and am a steady church goer. I am fairiy attractive and am a good cook. I love children anda want sume of my own. Do I not have the right to marry? I do not want to change my whole moral character, but it seems the only girls who get anywhere drink, smoke or crack questionable jokes in front of men. I am entirely opposed to. these things, but I don’t want to be an old maid. Can you give me s"me good, sensible advice? TWENTY-THREE ” ” ” Answer—I imagine that your strict upbringing has resulted in an inability to feel at ease with. msn, Where a girl is so. closely guarded by her father she ‘is apt to get the impression that men are sinister and dangerous without quite realizing why. As you learn to assert yourself in other directions you will have a corresponding increase of ease with men. Ena SE : Perhaps the girls who drink and smoke and crack jokes with men are not attractive because of these things, but in spite of them. They are sought because they are gay and friendly and at ease in the company of men. 3 Doubtless, since you have mental ability, the best | thing you can do is to prepare yourself for work and get a job out of town, far.from your relatives. Every girl who wants a husband needs a place to show her home-making abilities to the best advantage, If there is nothing inviting in her family background, no cozy kitchen where simple refreshments are prepared for callers, no music, no laughter, no welcome mat for strangers, then she owes it to her own future to pull out and make such a background for herself.

Note for J. FI received your message. I am sorry that it is impossible for me to make personal ESL JANE JORDAN.

Put your problems ina Jbtter to Jane Jordan, who will answer your questions in this column daily. = .

~JFOLLYWOOD, April 15.—I never ‘could see where . folks got the idea that city people are smartér Every time I read a story of some. : bunko- racket it’s about some city slicker that beats the so-called ‘yokel” out of somethin’. Maybe the “reason you don’t hear so much about the other side $f me Siory is because the “yokel” is too slick to be Jo out. - Th hl

3 I. remember some city people use to drive out to my" uncle’s farm to get milk. One day when I was there, my uncle looked. down the road and he hollered to my aunt and says, “Here comes ‘them city people . . . hurry up and warm the milk up. You know ‘they want it fresh from the cow.” (Copyright, 1938)

: ; ¢ yy Walter O'Keefe— Foon ot scons ne of “oaih of allegiance. fo. America. wil heva‘da. include promise to

the pledge, “And T. nort the APG ment of the United States in the luxury to: Governis accustom 1 States inthe luxury to which she,

| od” ray deficit and they

* America is headed for a balan say the next generation will have to pay the bill. : I.saw Shirley Temple recently and she looked worried. Now whenever her director wants to get

‘her to he has to do is to tell her