Indianapolis Times, Indianapolis, Marion County, 17 July 1939 — Page 3

MONDAY; JULY 17, 1939

“WE WILL NEVER

FORCED MOVING T0 BE RESISTED, PEASANTS SURE

FOREIGN SITUATION

BOLZANO, Italy — Tyrolean townspeople ready to move.

LONDON — Chamberlain refuses Churchill place in Cabinet (Page One.) PARIS—French and British agree on “African Singapore.”

TOKYO—Russian planes again raid Manchukuo.

BOLZANO, Iisvian Tyrol, July 17 (U. P.. — German-speaking Tyrolese, who became Italian citizens after the World War, expressed bitter opposition today to any plan to force them from their homeland. Rumors had circulated in the South Tyrol for a week before the news was published that Germany and Italy had agreed to aid the “voluntary” repatriation of Ger-man-speaking Tyrolese. An atmosphere of intense suspicion then developed. Bolzano's official German-language newpaper Alpenzeitung said today that an agreement between Germany and Italy for emigration provided “for compensation for moral and economic” consequences both to German citizens and German-speak-ing Italian citizens."

Expect Failure

Scores of Germans told the United Press correspondent that any voluntary migration of Ger-man-speaking people seemed doomed to fail. The theory was widely entertained that compulsory measures would be applied when, as Tyrolese put it, “the uselessness of waiting for the success of voluntary emigration” was apparent. But whether emigration plans are called voluntary or are compulsory, the United Press correspondent was repeatedly assured, the vast majority of Tyrolese will refuse to leave the land which has been their! home for centuries.

“We Will Never Leave”

Again and again, at widely separated pcints in the province, the correspondent was told the same thing in almost the same words. Farmers, woadcutters, innkeepers,

France and Britain Choose Port Nearest America; Turkey to Fortify.

PARIS, July 17 (U. P.).—French and British general staff officers have completed plans to co-ordinate defense on the West Coast of Africa and the Turkish coast on the Aegean Sea, it was disclosed today. Dakar has been selected as a sort of “African Singapore,” it was re-

who gathered at the countryside

ported, and Turkey by agreement

Evangeline Story May Be Repeated Here

Picturesque Bvlzano’s German-speaking residents must go to Germany or Southern Italy, it is reported.

ENTENTE PLANS BASE IN AFRICA

'MANCHUKUO BOMBING RENEWED BY SOVIET

| TOKYO, July 17 (U. P.).—Russian airplane flcets effected two bombing raids inside Manchukuo | yesterday, dispatches from Hsinking, the capital, asserted today. Eleven persons were wounded. Manchukuan Government authorities threatened “retaliation” in protests to the Russian Government,

BRITISH STUBBORN

reported

LONDON, July 17 (U. P.) —Great Britain will reject any Japanese demand for a reversal of a

inns to discuss the newest develop-|with France and Britain is to for- policy in the Far East as a condi-

ments proclaimed: “We will never leave our homes) alive.” Casting furtive glances over his] shoulder for “italian agents,” ove farmer, who wrests a bare existence | for his family and his twee cows from an uafertile slop of the jagged Dolomites, said: “I will never go of my own free; will. They may come and lead me | away. But I will come back to my home. IT don’t cars what they prom-! ise me elsewhere. I belong here. I am no criminal. I have done noth-| ing wrong that I should leave my land”

|

City Residents Willing

Some Tyrolese are willing to ieave Italy. They are almost exclusively residents of Bolzano, Merano and

tify the port of Tchesme, on the Aegean coast west of Smyrna. Plans to center West African defenses at Dakar, chief port of French Senegal, were worked out by | Brig. Douglas P. Dickinson, com-

|manding British troops in Nigeria, and Gen. Jules le Gendre, command-

ing French forces in West Africa. | Brig. Dickinson is now on his way to London to report. Dakar, where France has already made considerable progress in dei veloping a naval bas2, is the nearest | | African base to the American Continent.

Danzig ‘Mediation™ Reported Started

BERLIN, July 17 (U. P.).—Per-|

tion to opening negotiations for) settlement of the Tientsin and] ‘other blockade incidents, Prime Minister Chamberlain declared to-| day in the House of Commons. | | He declared that the Government had received no such demands from Japan. Resumption of the, negotiations was being delayed today at Tokyo while Sir Robert Craigie, British Ambassador, await- | ed new instructions as a result of his report on Saturday's conversations.

DUMPING GROUNDS REGULATION SOUGHT

A proposed ordinance prohibiting use of private property for dump-

other towns and own no land. One sistent reports were circulated today | ing of refuse and regulating official man, who earns his living from the that some form of “mediation” was| dumping grounds was filed with the

dwindling tourist trade, said: “I am leaving while I can. Life has been hard here for 20 years. But | if I refuse to go voluntarily while]

|in progress between Germany and | City Clerk today.

Great problem. (A Government

Britain on the Danzig

spokesman at

The bill was drawn by the South Side Civic Club which has been campaigning against “indiscriminate use of

the opportunity is offered, I am sure London denied that Great Britain| property” as dumping grounds.

life will be made zo miserable for us| that the last 20 years will seem a}

pleasure in comparison.” |

Observers said that despite the with interest today the presence of [are not kept clean.

bitterness and expressed determination of the Tyrolese there was not] much chance of concerted violent resistance. ;

was participating in any attempt to mediate the Danzig problem.) Diplomatic quarters also discussed

| George Astachov, Soviet Russian | charge d'affaires here, at a ceremenial luncheon given by Fuehrer Hitler at Munich.

Ollie A. Bach, Democratic councilman, said the measure was aimed |at noncity dumps which, he said, He said the measure would enable Council to regulate the W. Minnesota St. dumps which are now used by the City.

IN INDIANAPOLIS

Here Is the Traffic Record) DEATHS TO DATE County oy

JULY 15-16 2 | Accidents .... 2% | Injured.... 10 | Arrests SATURDAY TRAFFIC COURT Cases Convic- Fines) Violations Tried tions Paid] Speeding 16 $37.00 Reckless Driving None None None Failing to Stop Thru Street .. 4 1 1.00 Running Red Light 2 6.00 Drunken Driving None None None | All Others 0 9 32 31 $50.00

Totals MEETINGS TODAY

Salescrafters as of Indianapolis, dinner, Columbia Club Board

Scientech Club, luncheon, Hotel Lincoln,

Trade, noon iiananolis Press! Club, 48 5446!> E. Washington St,

p. m. luncheon, of

Sarnice Club, noo : dinner, Monument Circle, 6 p. m. Irvington Republican 0 meeting Bp North Side Realtors, luncheon, Canary Cottage, noon. Notre Dame Cottage, noo Indiana oniversity Club, lumbia Club, noon. Paint and ok Hil 5 b meeting, Hollyhock Hil Hill

MEETINGS TOMORROW

Indiana Bankers Association, luncheon, Claypool Hotel, noon. Kotary Club, luncheon, Claypool Hotel,

Club, luncheon, Canary luncheen, Co-

Credit Group, m.

noon. Gvro Club, luncheon, Spink-Arms Hotel, noon. Mercator Club, luncheon, Columnia Club,

6.00 | 2¢'%,

noon. Universal luncheon, Club, noon. University of Michigan Club, luncheon,

Club, Columbia |

Board of Trade, noo Alpha ey ae Tra noo Knights of Columbus, of Trade, noon. Lutheran Borvice Club, luncheon, Canary Cottage, Y's Men's Club, luncheon, Y. M. C. A, 12:15 2 5 Fin aper Credit Group, Mens oa the William H. noon.

Board of! luncheon, Board

‘luncheon,

luncheon, dlock Co,

MARRIAGE LICENSES

(These lists are from official records ifn the Countv Court House. The Times, therefore. is not responsible for errers in names and addresses.)

Forrest C. Fulk, 28, of Peru: Mali E. Dimmick, 24, of 1407 N. Pennsylva Jess McCloud, 5 ls of 8 Bhtes: Tucille i 810 8. Corrill:

Jewell, 51, of Jesse W. Smith 20° 19, of 241 N. Belle 25, of 2608 E.

Mudred arver, North; of 734 Lincoln.

A. Vieu. 35, of 2178 Dexter; 24th.

Jack P. Basinger, ins, 1470 E. Now York

. Mamy. 193, 2 ley, 21, of 23, of 1% 19 W Elsie Branson, Carroll M. Lucas, Ruth C. Farah, 2}, of 3s Sheldon. Victor O. Todd. 28, of Carthage, O.: Artausa LL. McCarley, 36, City. Lewis B. Edwards, 32, of Lakewnod, 0.; Mor L. Myers, 33. % 2523 Centra ee lise, of Cli pocl "Hotel; Edith - 45, =o 1450 Coilege.

| cis

man

Basil, Catherine Way, and girl.

34th,

Cenitol,

Lane, William Allen Wagner, 20. at 271 8. Tem- | pie, lobar pneumonia,

Cecil Harrison, Tuttle, 23, of 443 E. | Georgianna E. Rust, 20, of 443 S. ° Rollie E. Rhoads Jr., 29, of land; Helen F. McCready, 30, of Meridian. Fred Harper, 58, of 639 N. Vessa Richart, 51, of 956 Easte Ray Matthews, 21, of 131 S. Ha Lrthorne; Mary Shafer, 18. of i320 Loss, Firman R. Geiger, of Dayton, O.; Stella Dugan. 40. of 5449 College Clarence Pedigo of R. R. 17. Box 45; Lora Pearson, 25, of 13 N. Addison &8t. James Walter, 32, of 2142 Highland; Irene Cody, 29, of 2341 Northwestern. Thomas Patterson Jr., 21, of 113 Dickx) Lora Taylor, 20, of 1145 N. Belle Walt er Edwards, 22, of sylvania; Ruth Hardrick,

Carnine, 23, of Clayton, ind Dorothy Hess. 25. of 1420 N. Alabam Frank Vargo, 24, of Milwaukee, in. ilv Kish, 23. of 3002 W. 10th. Kenneth Kennedy, 26, of 430 N. Meridian; Clara Schmidt, 25, of 1134 Ww. 32d. Howard Walker Jr.. 23, of 3417 Broadway: Venitia Armstrong, 20, of West Newton. Eugene Cashman, 22, of 1257 N. Shefiii Baringham, 19, of 1117

Clarence Jackson, 36. of 310 N. 1lllinois; Vera Barker, 36. of 4360 Carrollton. Hugh Neel. 25. of ‘South v Virginia Royer, 21. of of 520 N. Eastern.

10th;

2102 N a STerton

0

22, of 2414 N.

"BIRTHS Girls

William, Rilla Ervin, at 609 Wilmington. den ontevelt, Eliouise Morris, at 1122 V Lloyd. Cela Strough, at 2143 Bosart, Harold. Ruth Dove, at 1119 S. Ewing. Dan, Geneva Lee, at St. Vincent's. William, Lola Channell, at St. Vincent's. George, Mary Daus, at City, Wallace, Frances Smith, at City. Charles, Gladys Tandy, at St. Francis. Donald, Gladys Bergstrom at St, Howard, Elizabeth Yohler, at St. Francis. Robert, Evelyn Story, at St. Francis. Francis, Leona Kennedy, at St. Francis. Andrew, Zora Brewer, at St. Francis. Ancil, Laura Hartman, at St. Francis. Luell, Evelyn Raybern, at St. Francis. William, Ruby Atheston, at St. Francis. rnest, Myrtle Ramsey, at Methodist. William, Arnella Lavton, at Mg nodist, Charles, Eleanor Deal, at Colema Boys Harold, Marjorie Sharp, at Coleman. David, Marjorie Smith, at Coleman. Harold, Mary Click, at St. Vincent's. John, Mildred Johnson. at City o erlang, Dorothy Rani<:y, at St.

Yihomas, Beatrice O’Brien, at St.

FranFran-

Elmer, Mary Borgman, at St. Francis. Bert, Bertha Mickley, at St. Francis. Leroy, Bernice Newman, at St. Francis. Paul, Dorothy Dean, at Methodist. Warren, Ruth Workman, at Methodist. od Tien Esther Stephenson, at Meth-

oq ineth. Sadie Crouse, at Methodist, Clark, Iola Maudlin, at Methodist. Rohert, Leona Kenworthy, at $17 Han-

ock. "William, Ella Owen, at 3195 Ritter. Myon, Vela Meulen, at 2410 N. Sherve Walker, Luela Floyd, at 908 Rive Roger, Lois Williams. at 277 N. Twins

er, Mount. at Methodist, boy DEATHS Ot‘o David Weer 61, at 2740 Carrollton, Mamie Christine Noreli, 67, at 2220 E. cereb al hemorrhage 55, at Methodist, carcinoma. at 1731 N.

cerebral hemorrhage.

essie Ross, Margaret Wittendorfer, 80, arteriosclerosis. E. 77, at Methodist,

Carrie Mav LE ke, 83, at 216 E.

co32d,

Frank Stanley,

ronary occlusion.

chronic myocarditi

James G. w ocd,

chron myocarditis

Viola 34,

62,

St. ua Riverside

Tichenor, at Vincent's,

peritonitis.

Myrtle Taber, at

Drive, acute dilatation of hear

Maggie Darden, 80, at 510" W. 29th,

chronig, myocarditis.

2834 N. Penn-.

an-

Francis. |

89. at 145 8. Hawthorne |;

FIRES

Saturday 9:58 A. M.—2032 Yio ores caused by sparks, $35 1 12:59 P. M.—1618 Rural ‘st. from bonfire, $10 lo 1:15 P. M.—410!> ar from bonfire, 2:22 P. M.—26th _and Clifton Seu 3:24 P. M.—643 Russell Ave., tra 3:54 P. M.—Indiana Ave. St., aA pole and

(18 P dition, 7.22 P

St., roof,

shed, sparks

iy Pine 8t., arage, $2. Janne

trash.

and $foriteaim grass, cause unknown. M.—T1st St. and Exeter Park Adhollow tree 1.—1348 Madison Ave. vacant house, Pun unknown, loss unestimated. 9:05 P. M.—Maryland and Kentucky Aves., auto. $5 loss. 11:02 P. M.—-919 N. Senate Ave. Ju unk yar cause unknown, loss unestimate Sunday 6:55 A Man Geisendorf St., roof, $10 loss 9:51 A. M.—2234 Central Ave.,

War Soin 11:2 a N. Meridian St., garage,

M. 1524 W. Washington 8t., sparks from trash. 2 P.M.—6700 E. Washington St., ne

: 3: 3% P. M.—Haverford Road and €1st St., rash. 3:43 P. M.—352 N. Summit St, in bed. loss unstated 8:42 P. M.—1354 Shelby St.. oily rags in garage, spontaneous combustion, $5 loss.

sparks on smoking

cause “unient 1:44 P

barn, a

cigaret

OFFICIAL WEATHER

By U. S. Weather Bureau

INDIANAPOLIS FORECAST — Partly cloudy and warmer wonight and tomorrow; thundershowers tonight.

Sunrise ...... 4:30 | Sunset

TEMPERATURE —July 17. 1938—

MIDWEST WEATHER Indiana—Partly cloudy to cloudy; local thundershowers in east and north portions tonight and in extreme north tomorrow; warmer tonight and tomorrow. Illinois—Partly cloudy to cloudy; local thundershowers in extreme north portion tonight and in central and north portions tomorrow; somewhat warmer tonight and in extreme north portion tomorrow. Lower Michigan—Occasional thundershowers tonight and tomorrow; somewhat warmer. Ohio—Cloudy with slowly rising temperature tonight and tomorrow; showers and thunderstorms Tuesday and in west portion tonight. Kentucky—Mostly cloudy with slowly rising temperature tonight and tomorrow: loca! thundershowers tomorrow and in north portion tonight.

WEATHER IN OTHER CITIES 6:30 A. M. Station. Weather.

Citv, Kas. ... . Mont. 1 Jacksonville, [Kansus Cily Little Rock.

P Portland, O: San Antonio, Tex San _Franciszo 2 WC

IN TALKS AT TOKYO

FISHER FUNERAL SET TOMORROW

Cofounder of Speedway Will Be Buried at Miami Beach.

(Continued from Page One)

LEAVE, TYROLEANS IN re[REPORT EXPERT

PAGE 8

ITALY SAY

URGES CITY TO BUY WATER CO,

Public Hearing Set for Thursday as Negotiations Near End.

(Continued from Page One)

increase in the guaranteed quick assets—working capital and net current assets—which the City would acquire, and a saving of about $75,000 in the contingent liabilities through the estate agreeing to pay all bond and preferred stock interest up to the date of purchase. A portion of this net saving would be canceled by the estate's requirement that the City pay for any net additions of property necessary in the ordinary course of business between May 1 and the date of tne actual transfer of the property. It was agreed by the estate that these additions would not exceed $165,000 without the approval of City officials. Mr, Dickerman also suggested that, in the final settlement, the City withhold a part of the purchase price as protection against any possible liabilities not foreseen.

Court Valuation Cited

In citing reasons why the City should buy the utility, Mr. Dickerman pointed out that the utility’s

present earnings are based on a valuation about $6,000,000 less than | the Circuit Court of Appeals has indicated it might be entitled to, and that thus the City faces the. threat of a battle to prevent rate! increases. In discussing the “angles that must be weighed” by the City, Mr. Dickerman commented that the estate is “not forced to sell this] security but out of its portfolio will | choose to sell those securities which will sell at a price which represents lowest rate of yield or return, or!

trol of the Speedway in 1927 when | control was taken over by the present corporation headed by Capt. |E. V. Rickenbacker. He continued, however, as a stockholder.

Good Roads Advocate

Mr. Fisher was an advocate of good roads and was instrumental |

best advantage of the estate.” “The bargaining position of the City,” he added, “is not only sub-| ject to general bid for the stock, but | by the Geist estate estimates of the value to it of selling certain securi- | ties and retaining others.” Mr. Dickerman, who was called |

which would otherwise be to the with interest at 21%

| paying $4,500,000 for the common

Dickinson at the ‘Hellish Brink’

Governor Luren B. Dickinson

AAG Times-Acme Photo. (left), of Michigan, looks on at-

tentively as his secretary, Mrs. Margaret Shaw, converses with Claude

J. Holding, Albany hotel proprietor.

The chat took place during

one of the numerous social functions attended by the 80-year-old Governor, who was so shocked by “high life” in the East, that he warned “mothers and daughters” of the “hellish brink.” 2 ” »

GASOLINE ATTENDANT SLUGGED AND ROBBED

Richard Laughlin, wughlin, 60, of 5339 Carrollton Ave. operator of filling station at 42d St. and Fall Creek Blvd., was knocked unconscious and Teft bound and gagged

lin a slugging and robbery today.

When he went into the station to change a $5 bill which the bandit had given him for a bottle of pop, he was struck on the head, bound and gagged. Forty dollars was taken from the cash register.

approximately $4,500,000, it was asserted. Mr. Dickerman’s supplementary report included a set of figures showing how the City would gain per cent and

stock, as compared to 3 per cent interest with $3,500,000 for the common stock. The $4,500,000 price would require bond issue, leaving out the Oak-| {landon improvements, he said. The

common stock]

in the construction of the Dixie back from Washington last week to payments of principal and interest

| Highway. It was known for years as “Carl Fisher's Highway.” He concevied the idea of developing Miami Beach into a winter resort while in Florida on vacation in 1913. A group of New Jersey men already had failed at the enterprise, but their failure did not deter Mr. Fisher. Carrying his visions into reality, he made a fortune during the Florida boom days of the 208. Mr. Fisher later extended his real estate activities to the East. He founded and was a director of the Montauk Beach Development Co. of Long Island, N. Y., a $10,000,000 shore development project. For several years he was chairman ‘of the touring board of the American Automobile Association. He was known by automobile racing promoters and drivers both in this country and Europe. “In the passing of Carl G. Fisher I feel that this country has suffered a great loss,” T. E. Myers, vice president and general manager of the Speedway, said. “His keen mind, farsightedness and limitless energy enabled him to contribute much to humanity.” Last Visited City in 1929

Mr. Myers last saw Mr. Fisher at Miami in 1932. Mr. Fisher's last visit here was for the 500-mile race in

1929. His first marriage was to Miss Jane Watt, formerly of Indianapolis. They were divorced in Paris in 1926. The following year he was married to Miss Margaret Collier of Washington Court House, O. During the last week she had been at Montauk, N. Y., arranging their summer home. She ‘went to Florida by airplane when notified of his death.

AUTO THEFT SUSPECT IS SHOT TO DEATH

Warned that he had declared he would not be taken alive, two city police officers yesterday afternoon shot and killed a 23-year-old auto theft suspect as he fled in the rear of 2341 Northwestern Ave. The shooting occurred two and one-half hours after the dead man’s name had been read at police roll call as dangerous and wanted for Janine taking and suspected burgary. Police Officers Kenneth Downs and Oral McClain saw the man, known as Sam Richards, in a car with two other men at Myrtis St. and Northwestern Ave. They said | he jumped from the car and ran behind a house at 2335 Northwestern Ave. He refused to stop at their command, they said, and both fired a

|

| public hearing Thursday.

' explain details of his report to the | Mayor's committees, expects to re-| main here this week and attend the |

Mayor's Mind Open

In announcing the hearing for Thursday night, Mayor Sullivan said another meeting Friday night, and possibly a third one later, might be arranged if there is sufficient public interest. “We still have an open mind on the matter,” the Mayor said, “and we will welcome the views of any citizens who have anything constructive to offer on the proposal. “While we are unanimous now in feeling that it would be a good thing for the City to buy the company, this meeting may suggest some things we haven't thought of and may cause us to change our minds. “Our whole idea is to do what is best for Indianapolis. If we are satisfied that it is a good thing for the City to buy the water company, then we want to buy it. If it is a bad thing, we don’t want to buy it.”

Estate Figure ‘Bed Rock’

Other City officials said they felt that the estate's executors, in slashing the price for the stock a half million dollars, had gotten down to “bed rock” and would yield no more concessions. They said they were told by C. W. McNear, representing the estate, that the estate at preSent intends to retain the utility property if the City doesn’t buy and would obtain from other sources the money needed early in September to pay Federal inheritance taxes. The “other sources” were understood to be 431,000 shares of United Gas Improvement Co. stock owned by the estate. This holding company stock was quoted on the New York Stock Exchange Saturday at $13 a share, and thus would net the estate a million dollars more ready cash for taxes than would sale of its water company stock. An important factor in the tentative decision to buy the utility was information that revenue bonds to finance the purchase probably could be issued for close to 22 per cent interest instead of the 3 per cent interest on which the original calculations were made. Figures, which are now being checked, were presented to the officials at their meeting Friday to show that a 4 per cent reduction in the interest rate would’ save the City approximately a million dollars over the 40-year period in which the bonds would be retired from water revenue. Thus, the 40-year interest savings at a rate as low at 21% per cent would be twice the million-dollar difference

on such an issue would average | $904, 833, of which interest payments | would average $337,042 over the 40year period. Deducting the interest cost, this would leave an average equity of $567,791 being built up by the City each year. Adding an estimated $363,558 cash balance from revenue available to the City, this would mean a total average annual benefit to the City of $931,349, Mr. Dickerman said. On the basis of his $3,500,000 “justified price” for the stock, and the 3 per cent interest originally anticipated, a bond issue of $21,851,663 would be required. This would call for annual payments of $945,521, of which interest would average $399,229, leaving an equity of only $546,292 and a cash balance available of only $322,870, for an annual total benefit of $869,162,

Legal Steps Outlined

Under the law. the joint approval of the Mayor, City Council and the Utility District trustees is necessary in buying the company. Attorneys have advised officials that if a decision to buy is reached, the first step would be passage of an ordinance by Council. The Mayor could veto or approve the ordinance. The next step would be for the Utility District trustees to adopt a resolution calling for the purchase. This would be followed by a 15day notice, through legal advertising. informing bond firms of the City’s proposed bond issue so they coulda submit bids. The bonds, under the law, must be sold to the bidder offering the lowest interest rate and the highest premium. City Council is to met tonight, and will not meet again until Aug. 7, three weeks later. It was considered likely that such an ordinance would be introduced at a special meeting, following the public hearings, and be acted on at the regular meeting Aug. 1.

Laws Are Checked

The law firm of Thompson & Rabb, representing the Utility District, is making a careful check of the laws and circumstances affecting the proposed purchase in order to safeguard the City in every possible manner, it was said. This study is being made now to save time in the event a decision to buy is reached. Officials said they feel that if they do decide to buy the firm, no time should be lost in completing the deal and issuing bonds because an upturn in business or war in Europe might send the present low interest rates on bonds soaring to a point where the City would find

between Mr. Dickerman’s “justified

shot at him as he jumped a fence.

price” and the estate’s new offer of

it unprofitable to go ahead with the deal.

son C. Dickerman’s supplementary he advises purchase by the City of Water Co:

his value of $19,014,848 as the fair the property as of May 1, 1939, in his best knowledge and conviction, that value is not controlling in the

than his estimate of its real werth. However, the situation is such

set by one bid offered of close to

ally for 40 years: A cash balance of $363,558, or a

Following are the conclusions contained in Jud-

While the consultant (Mr. Dickerman) arrived at

City wishes to acquire the property. If and when the City pays $4,500, ing company stock, or $21,388,400 net for the property, it may be paying substantially $2,375,000 more

Both of these

report in which [Whatever benefits

the Indianapolis

existing law. present value of accordance with he realized that situation, if the that the City can

000 for the hold- holding company

that the water

$20,438,400. |

total in 40 years low interest rates

Digest of Dickerman Report on Waiter

cash balances are independent of the City treasury may receive be-

cause of taxes assumed as paid in arriving at the above estimated income but which may not necessarily be paid by the City-owned water system under

With but $367,464 annually out of net income of $1,268,391 going away from the City under municipal ownership as against the whole $1,268,391 being lost to the City under private ownership,

it is inescapable well afford to pay $4,500,000 for the stock and should not be deterred

from paying that price because certain honestly made estimates of the direct worth of the physical property fall substantially below that figure. In effect the benefits of the low interest rate at this consumers must face for an indefinite period paying time available to the City makes it possible for the a return approximating 6 per cent annually on City to meet a possible market price for the stock with a minimum value of $21,140,000, and a possible 6) per cent on values ranging some millions above that | figure, and that a minimum market value has been ' paid the present owner. This opinion, of course, is predicated upon the fact The present suggested asking net price of $21,388,- that the City has made every available effort to get 400 at present can be financed in a such a way that as low a figure as possible. it will all be paid out of revenues on the present basis that the City Is handicapped now as it is likely to be in 40 years and meantime the City will receive annu-| |

sucn advantages to itself as to make it appear sensible to ignore a possible overvaluatjon in the price to be

It has been pointed out

lin the future in driving a close bargain. This is an opportunity in view of the extraordinary

at present available and the pos-

on present basis of revenues and expenditures of sible near future inflation of monetary standards that $14,542,320, or with the recommended Oaklandon improvements a minimum cash balance of $281,886, or a total over the 40 years of at least $11,275,440.

the, City should not fail to -seize.

Respectfully submitted, JUDSON C. ba

HIS COLLEAGUES REMAIN SILENT

Ministers Also Decline Comment on Governor’s ‘HighLife’ Parley.

LANSING, Mich., July 17 (U. P.). —Governor Luren D. Dickinson's denunciation of social functions at the Governors’ Conference in Albany last month caused obvious embarrassment to his colleagues in the State Government today but they

maintained a tight-lipped silence. Lansing clergymen also declined comment on the Governor's state{ment that girls who attended ban-

a $22,711, 662 quets at Albany and Saratoga were

made “the prey of social brutes.” “I and many other pastors have our ideas about it,” one Methodist minister said, “but there's the matter of propriety to consider.” Governor Dickinson dictated the statement, in which he specuiated on the possibility that a ‘“procurer for a high-class brothel” might have mingled among the crowd at Albany, to his personal secretary. He did not let any other member of his staff read it before he handed it to newspapermen. The 80-year-old Chief Executive told his Sunday School class at Center Eaton Methodist Church yesterday that the reaction to the statemen throughout the nation “gives me the greatest satisfaction I have ever had in my life because I made a start.” “My only regret is that I didn’t make it stronger,” he told the group of 58 men and women who heard his Sunday morning talk. “A warning to be effective,” he said, “must be attractive and contain things which will draw attention and make their way into the homes. I was asked to do that, and when I do, I calculate it to be understood. “When I say a thing no one mistakes what I mean. They did not mistake what I meant this time.”

Townsend Scoffs At ‘High Life’ Charge

Charges made by Governor Lurin Dickinson of Michigan that there was evidence of “high life” at the recent corference of Governors in Albany, N. Y., were scoffed at by Governor Townsend today.

“Mrs. Townsend and I attended all meetings and social functions of the Governors’ conference and neither of us saw anything that we thought objectionable to our best citizens,” Governor Townsend said. Regarding charges that drinking was prevalent, it was reported the Governor imbibed only sparingly of beer during the entire conference and that Mrs. Townsend partook of no alcoholic beverage.

FIVE HOOSIERS DIE IN TRAFFIC; TEN HURT HERE

Funeral Is Today for Girl, 3, Killed Playing; Mother’s Fears Come True.

(Continued from Page One)

street. Her brother, William Dene ton Jr. 6, also was in the front yard of the Denton home and Mrs. Denton was in the house. Margaret May suddenly left the game and darted swiftly into the street. Mack Denton yelled at her, but it was too late. A car driven by George Puckett, 47, of 447 W. 17th St., struck her and carried her 58 feet before her unconscious form slipped to the pavement.

‘Come Qut Here, Lena’

The uncle said he had not been certain fhat the child was hit until he saw the body on the pavement and then he called to Mrs. Denton: “Come out here, Lena, Margaret has been killed.” Mrs. Denton rushed out and was the first to get to her child. The mother gathered up her child and carried her to the front door, then fainted. Mr. Puckett went to the Denton home and told them he had not seen the child in time to avoid the acci--dent. No charges were placed against him. Three hours later Margaret May died in City Hospital of a fractured skull, a fractured pelvis and internal injuries. She did not regain consciousness. Funeral services are to be at 2 p. m. today at the Moore & Kirk Funeral home, 2530 Station St. and burial will be in Sutherland Park Cemetery. Police .said that Mr. Trissell, the second traffic accident victim, was in a safety zone at the southwest corner of Walnut St. and Massachusetts Ave. and that he walked in back of a northbound Brightwood trolley into the path of a southbound Indiana Ave. trolley driven by Glen Wasson, 35, of 1935 N. Keystone Ave.

Stepson Notified

Hospital attendants sent a telegram to the man’s only known rela tive, G. E. Graham, a stepson, in St. Louis, Mo. William Sanders, 69, of 4805 E. Washington St., was in critical condition at City Hospital of injuries received Saturday when he was struck by a truck as he stepped from a curb at Wallace and Wash=ington Sts., police said. Hospital attendants reported he had a possible skull fracture. The truck was driven by Richard Theard, 16, of 5173 Pleasant Run Blvd., police said. Mrs. Mary Charlotte King, 32, of Washington, was recovering in Methodist Hospital from shock and bruises received yesterday when the car in which she was riding with her husband, Paul V. King, 30, collided with another at 30th St. and Washington Blvd. Police charged Mr. King with failing to stop at a preferential street, and the driver of the other car, Jack L. Loucks, 19, of 552 W. 30th St., with having no operator’s license. Dr. Ray Skinner, 25, of Monroe, Mich., received a broken nose when his auto collided with one driven by Randall Jones, 20, of 2225 Central Ave., at 13th and Alabama Sts.

Crashes Fuel Pump

Richard Parr, 26, of Martinsville, also received a broken nose when his car crashed into a filing station

pump at Highway 37 and the Morgantown Road, after he was forced from the road by another car. His wife, Mrs. Marguerite Parr, was cut on her face, deputy sheriffs said. Three persons were treated by pri vate physicians after a collision at Central Ave. and E. 38th St. Francis Mangold, 52, of 4527 Central Ave., and Miss Josephine Mangold, 21, of 4527 Central Ave., suffered bruises and lacerations when the car in which they were riding collided with one driven by Martin B. Hall, 67, of 337 Whittier Place. Mrs. Ora Hall, almost two years awaiting trial. A passenger in the latter car, suffered a cut on the forehead and a sprained

back, police said.

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