Indianapolis Times, Indianapolis, Marion County, 23 June 1939 — Page 9
FRIDAY, JUNE 23, 1939
> LOAN PROGRAM
© WODS TRADE IN LATIN AMERICA
F. D. R. Plan Would Pour Half Billion Into Foreign
“Undue taxation of premiums or]
“Americans are the most heavily
discrimination against life insur-| insured people in the world, and
ance investments fall upon the
thrifty policyholder and become « FOUNDERS’ SOCIETY
penalty on savings,” according to George H. Harris, public elatiohs) officer of the Sun Life Assurance Co. of Montreal, Canada. He spoke to| Indianapolis Life Underwriters yes-|
HAS BABY MEMBER
NORWICH, Conn, June 23 (U.
terday at the Claypool Hotel on p)_john Goodrich Gager Jr. is
“Life Insurance and Public Wel-/ fare”
|only a year old, but he holds a life
with 7 per cent of the world’s population, own T0 per cent of the world’s life insurance. “Life insurace is a national legacy, since, it will be paid out and is being paid out as one generation succeeds another. Public debt is a legacy of another kind. Reduction in taxation would liberate more money for life insurance, reduce the national obligations to bereaved or
THE INDIANAPOLIS TIMES Opposes Undue Taxation on Insurance
BARBER HELPS LAW IN GETTING ITS MAN
RENO, Nev, June 23 U. P).— Detective Sergt. Andry Williver “got his man although it required a close shave. He was certain that a man with a two-years’ growth of whiskers on his face was the man wanted for a series of holdups at Oakland, Cal, but those whiskers did constitute a camouflage. So Williver just took the man into a barber shop and
JAIL SEEKER UNLUCKY
MARTINEZ, Cal, June 23 (U. P). —Howard Hawthorne, itinerant Negro, wanted to get in jail for awhile. He applied for admission but was told there were no charges against him. So he started in to call the officials names. He was arrested, taken before the judge, sentenced to six months in jail-—and the sentence suspended.
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ordered a close shave. Then, sure enough there slowly emerged the real features of the man he looking for.
ey
indigent people, and improve the crime situation by providing many potential criminals with home advantages.”
“Life insurance has become a! membership in the Society of the predominant factor in the social Founders of Norwich. and economic life of the American! His ancestors were among the setpeople,” Mr. Harris said. itlers of this city in 1659.
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‘Sales Loans.’
By LEE G. MILLER Times Special Writer ied WASHINGTON, June 23.—Included in President Roosevelt’s new] catch-all lending program is a chal- | lenge to Germany's funny-mone campaign for Latin American trade. |
The plan calls for pouring a half billion dollars into foreign loans to stimulate our export sales. Latin | America is obviously the market] that Mr. Roosevelt has in mind, | since most European powers are] covered by the Johnson Act of 1934, | forbidding new loans to nations in| default on debts to our Government. True. loans raised in this country by Latin American nations, states and cities have often proved no bargain, especially those floated during the open-handed twenties. Of more than a billion and a half in latin American “dollar bonds,” 85 per) cent are in default today. But since the unlucky bondholders in this case! are private interests, rather than the Government, the Johnson Act
ns
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Presumably the loans would be placed by the Export-Import Bank, through which similar loans are already being placed in a small way. As the Export-Import Bank § is forbidden by law to have more than $100000.000 in loans outstand= ing at one time, legislation to enlarge its powers would be needed if Congress approved the new project. The bank has a good record so far, with only minor delinquencies. Its most recent operations of consequence were a $20,000,000 credit to Brazil, arranged in March, and a $25,00.000 credit extended to Chinese interests last December. The President seems to be gunning for bigger game this time. |
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With our imports from Germany § greatly reduced, she is neither capable nor desirous of buying American goods in such volume as form=erly. So our exporters turn to Latin America for new markets—and so does Germany. Figures just issued by the com merce department show that the] United States and Germany have both won larger shares of Latin! America's purchases since 1933, while Great Britain has slipped from second place to third. The, figures: | U.S. Germany Britain Per Cent Per Cent Per Cent | TORERRNE I 29.2 11.3 181 | DESK. vivo 36) 13.0 12.2 American exporters have often’ lost sales because the purchasers wanted long-term credit and the Americans demurred, whereas the Germans with their inexhaustible blocked marks snapped up the orders. The President's new plan presumably is designed to meet this’ situation, and to curb if possible the unwelcome spread of Nazi political ideas in some of the Latin states. |
JUDGE SENTENCES | KERR TOMORROW |
Elmer Kerr, former president of, the Commercial Bank & Trust Co, | Union City, Ind. found guilty re-| cently in Federal Court of violating |§ the National Banking Act, will be] sentenced tomorrow. The Government had charged six | violations and Judge Robert C.| Baltzell found that Mr. Kerr was| guilty of four counts, each of which | carries a maximum penalty of a| $5000 fine and five years in prison. | John W. Moore and John W.| Moore Jr, - former. Continental, Credit Corp. officials of Winchester, | Ind., were found guilty of charges | of aiding and abetting Mr. Kerr in |} the four violations but they will not be sentenced. i They were tried last fall on fraud | charges and the elder Moore was given a seven-year sentence and | fined $5000 and his son was given | a five-year sentence and fined § $1500. They are appealing these |g: convictions to the U.- S. Circuit §: Court of Appeals at Chicago. Judge | HE Baltzell said that these sentences) were sufficient to cover the second | conviction.
30 VICTIM DEAD IN | MURDER AND SUICIDE
CLINTON, Ind., June 23 (U. P..| — Mrs. Alice Veltri, 40, died last night from a bullet wound, the third victim of a shooting affray in! which Ralph . Scorza, 45-year-old miner, murdered his wife and com- | mitted suicide with a shotgun. |p Scorza had been in poor health §: and authorities blame his condi- }. tion for the tragedy. { Mrs. Veltri was shot by Scorza a she ran to aid his wife whom | Scorza was beating with the shot-
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