Indianapolis Times, Indianapolis, Marion County, 7 September 1942 — Page 13

glad He's s Not A Blamed

For This War; Enjoys -Raising - Tulips.

By ROBERT RUARK Times Special Writer NEW YORK, Sept. 7.—John Pier-

pont Morgan achieves his 75th] |

birthday with fair assurance that

nobody is going to blame him for getting America into world .war II. It is a fairly comfortable feeling for the old gentleman, who spend the better part of 20 years denying accusations that the House of Morgan had helped to involve the nation in the first European mess. Whereas the House of Morgan pretty well carried world war I on its back, in the current conflict it is Just another bank—and not such a huge one, either. And J. P. Morgan, at 75, is just another banker, with a passion for privacy and tulips. The privacy 1s as strict as ever, but he has a new variety of tulip to play with on his estate at ‘Glen. Cove, L. I. For the first time in the flower’s history, Mr. Morgan’s tulips have a definite, pleasant odor,

Deeply Interested in War

Despite rumors that he is folding his financial wings preparatory to retirement, Morgan still comes to work every day, arriving about 11, leaving at 5. This is a routine he has followed for years, since he succeeded his father in 1913. He spends an average hour at the Morgan Library at 36th st. between Madison and Park aves. His evenings are divided between a few choice friends and his books. He sometimes gets up - very early to work on his flowers. He is deeply interested in war news, and hangs on the radio for latest bulletins. It has taken’ Morgan a long time to drop the guise of a financial freebooter who could be blamed’ for _ everything from Japanese earthquakes to the depression. A midget helped humanize him. The Pecora investigation failed to discredit him. The terrific spending of the New Deal dwarfed him as an ikon of capitalism, and new banking legislation finally deprived the House of Morgan of some of its lowering mysticism by forcing its transformation into a corporation. That was the end of an era.

A Legendary Figure

The common apology for almost anyone is ‘that he was “misunderstood.” In Morgan's case the term is somewhat justifiable. Proud as Lucifer, personally shy, Morgan never bothered to explain his actions. He knew nothing whatsoever aout the common folk, and never cared to improve his knowledge. -@Galled by press and left wing, he figuratively told the whole world to go jump in the creek. He insisted on unbroken privacy in his personal life, and truculentiy enforced it. In the public eye, this loofness, coupled with his tremendus financial transactions—the halfbillion dollar Anglo-French loan in 1915, for instance—made him into a legendary figure. The public got its first informal peek at Morgan in 1933, during a senate banking committee investigation. Senator Carter Glass of Virginia said - that only “peanuts and pink lemonade were needed to convert the proceedings into a circus,” and Press Agent Charles Leef of Ringling Bros. Circus had an idea. Humanized by Midget

He took a female midget, one Lya Graf, and plopped her ento Morgan's knees. Thinking she was a child, Morgan grinned and asked her where she lived. Said Midget

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J. P. Morgan—still has

Graf: “I live in a tent.” Flashbulbs popped, and every paper in the nation played the picture. Morgan was horrified. He was actually sick about the business for days, but some of his associates privately rejoiced. The occurrence took a lot of heat off the Pecora probe. J Morgan's attitude toward the press softened somewhat thereafter, so far as his public life was concerned. When he is with his few clese friends, Morgan shelves his shy brusqueness for an air of nearheartiness. He is a free talker on those occasions, smokes big cigars and a pipe. He enjoys good wines and whisky and gin. In May, 1933, Morgan registered to vote in Glen Cove for the first time in 15 years. The main purpose was to vote wet on the prohibition issue. -

He’s a Light Eater

Morgan is a light eater for a big man (six feet tall, 195 pounds): but his appetite improves perceptibly when he is at sea. He is always first at table—not, as an associate points out, because he is a glutton, but because he is “a very punctual person.” : “Morgan is one rich man who seems to have gotten a pretty good run for his money. He used it not so much for power as to buy the things he enjoyed, and he has always taken plenty of time to enjoy them. His yachts, for instance . . . the famous Corsairs. The last Corsair cost $2,500,000, was 343 feet over all, and was the third largest in the world. The kings of Thailand and Italy were the only yacht-own-ers to outstrip him. For many years now Morgan has been closely bound to the English. He had a country place in Hertfordshire named Wall Hall, a house in Grosvenor Square in London, and a shooting box at Gannochy Lodge. Scotland. The late King George V used to shoot grouse with

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52d Annual

Wil Meet Here in

November,

William ‘A. Hacker, ‘ presitient of the Indiana state conference of social work, today: announced the names of committee members in

of the organization this fall. Dates [set for the 1942 season are Nov. 4 to 6.

Virgil Martin, manager of the United War Chest and Indianapolis community fund, and Randel Shake, chief probation officer for the Marion county juvenile court. Miss Bernice Orchard, child welfare consultant for the children’s division of the state welfare de-

co-ordinator. Others on the general program committee are Dr. Daniel C. Barrett, Bloomington,

"chairman of the divisional commit-

tee on health activities; Miss Marie M. Fischer, Evansville, chairman of

‘| the committee on social administra-

tion; Miss Gertrude N. Horney, Muncie, chairman of ‘the committee

‘lon social treatment, and Otto F.

$ a passion for privacy.

him in Scotland, and Morgan was much with the royal family. He used to dandle the: current Queen of England on his knee when she was a girl in Scotland. Morgan's affection for the Royal family did not extend to Edward, Prince of Wales. J. P, didn’t cotton to the frivolous young prince, probably regarding him as too flighty for his position. Although not so preoccupied with the Episcopal church as his father, Morgan is a steady church-goer, and an amateur of ecclesiastical law and church history. In 1929 Morgan invited the Archbishop of Canterbury to go with him on his yacht to Palestine, and the archbishop accepted the invitation, He also

lcorresponded quite regularly with

Pope Pius XI. His Life Endangered

Mrs. Morgan, the former Jane

Grew, died of sleeping sickness in 1925. Morgan, who adored her, was shattered for weeks afterward. They had two sons, ‘Junius and Henry, both of whom are now lieutenant commanders in the naval reserve, and two daughters; Jane (Mrs. George Nichols) and Frances (Mrs. Paul Pennoyer). Morgan built a park at Glen Cove to his wife's memory, and often drives there, sititing in- the front seat with his chauffeur, Morgan’s position = as eapitalist supreme nearly cost him his life on two occasions. Once, in 1915, when Morgan was being assailed for trying to draw the United States into

broke into his house and shot Morgan twice, before the burly banker succeeded in ‘disarming him. In 1930 Somebody chucked a bomb into the Morgan offices at 23 Wall Street.

Shrugs Off Bodyguards

guards his partners insisted should accompany him. Once, in the depth of the depression, the “Corner” was being picketed by a mass of communists. Morgan’s partners tried to persuade him to stay inside the building, but the old boy wouldn't be intimidated. He pulled his square hat down over his ears, stuck out his chin and surged right through the middle of the demonstrators. ! Strangely, although Morgan was regarded as the symbol of fat-cat finance, he was relatively a poor man compared with the other tycoons of his time—the Rockefellers and Jay Goulds. As residuary heir to his father’s estate, he received $77,465,975.38, but much of the money was invested in art objects. Morgan had to sell some $8,000,000 worth of the bric-a-brac to meet death duties, bequests and immediate capital necessities. During the Pecora witch-hunt in 1933, the public was somewhat startled when. an investigation showed the firm to be considerably less rich than anyone suspected. Figures showed that Morgan and Co. had dropped from a net worth of $118,604,184 in 1929 to $53,194,-

1077 in 33. Contrasted to the big

English houses,. and even New York's Chase, National City and Guaranty Trust banks, it was fairly small potatoes.

Not Ready to Retire

Morgan’s own explanation of his success is that “the private banker must be ready and willing to give disinterested advice to his clients to the best of his ability. The belief in the integrity of his advice is a

| great part of thé credit which Ij4

have referred to as the best posses sion of any firm.” - Since the Houle of ‘Morgan no longer is a partnership, but a

y | straight corporation, there is much|y conjecture as to who eventually will

succeed J. P. as chairman of the board. = His sons are counted as logisuccessors, but the question

i hasn't been circulated widely.

‘For Morgan, at 75, gives no indi‘cation of a willingness to retire. His

. | bald head: can be seen behind his [01a roll-top desk every day, and as] The

war, a man named Eric Meunter

Despite the danger of stopping some crackpot’s bullet, Morgan always tried to shrug off the body-

‘Walls, Knightstown, chairman of the committee on volunteer service.

Committee Includes: . Other committee members in-

\

Evansville, vice chairman; Mrs. Charles E. Buschmann, Indianapolis, secretary; Mrs. Charles T. Boynton, Elkhart; Mrs. Joseph P. Doody, Ft. Wayne; Mrs. Montgomery S. Lewis, Indianapolis; John V. Maier, Muncie; Miss Emma C. Puschner and Miss Mary Sinclair,

| both of Indianapolis.

Members of the divisional committee on social treatment besides Miss Horney are: R. S. McClelland, South Bend, vice chairman; Charles Boswell, Indianapolis, . secretary; Mrs. Nina L. Bauer, Peru; Miss Margaret A. Emery, Gary; Hans Riemer, Michigan City; Miss Helen Sanders, Indianapolis; Mrs. Velsie Tyler, New Albany, and J. K. Wolfe, Richmond. Barrett Heads Group: The divisional committee on health activities is composed of Dr. Barrett, chairman; Mrs. William B. Thirwell, Paoli, vice chairman; Miss Geneva Feamon, Indianapolis, secretary; Dr. Herman M. Baker, Evansville; Dr. Robert M. Ferguson, Rising Sun; Miss Ethel Jacobs and Dr. Lillian G. Moulton, Indianapolis; Dr. Harriet E. O'Shea, West Lafayette, and John P. Turner, Richmond. : Working with Miss Fischer on the committee on social administration are Miss Ethel McLain, Ft. Wayne, vice chairman; Mrs. Rachel Bash, Indianapolis, secretary; Milton Hadley, Wabash; Dr. Ford :P. Hall, Bloomington; Mrs. Marion MacDonald, Goshen; J. Wesley Stewart, Anderson, and Dr. C. L. Williams, Logansport. Another member of this committee, Mark Ogd Indianapolis, recently received a commission in the naval reserve.

CRITICALLY HURT ON ARLINGTON BRIDGE

Dan McGuire, 38, was injured critically last evening when he fell over the railing of a bridge in the 1700 block, S, Arlington ave, Companions said he and they had been playing miniature golf in the 1600 block of Arlington, and decided to walk south to a riding stable. As they passed the bride,

pretended he was going to jump over the railing and, in some manner, lost his balance, falling 15 feet to the creek bank. He was taken to City hospital.

GOP CLUB TO HOLD WATERMELON FEAST

The Irvington Republican Club will hold its traditional watermelon feast Sept. 14 at Carr’s hall, Irvington. The main speaker will be James A, Emmert, Shelbyville, G. O. P. attorney general nominee. He will be introduced by Glenn Funk, acting president of the" club, in the absence of Erle Kightlinger who is | in the armed services.

GREET NEW PUPILS Approximately 450 9B pupils will enter Washington high school tomorrow and be received in the auditorium at 1:30 p. m~by Principal Walter Gingery. TeacHers Mrs. Grace Barker, Mrs. Marie Wilcox, Allan Stacy and BE. B. Hargrave will assist in giving instructions.

By Science Service CHICAGO, Sept. 7.—Hope of controlling at least to some extent future influénza epidemics that may add to the horrors of war appears in a report by Dr. Joseph Stokes Jr., and Dr. Werner Henle, of the University of Pennsylvania Medical school, to the American

with an overwhelming influenza infection. But only one og. caught

Conforsiios

charge of the 52d annual meeting |

The executive: committee, “with 3 | Mr. Hacker as chairman, includes

clude: Divisional committee on vol-| unteer service; Mrs. Edwin ‘Karges, |

they said, Mr. McGuire playfully

partment, has been named program |=

seoleh, hasn't been ill a day.

© ‘This dachshund, Honey Girl, is a full-fledged war worker. around her neck, she walks three times a day around the floor of a hairdresser’s shop in Rockefeller Center, New York City, picking up hairpins for the scrap drive. She averages a pound a day and has picked up enough for 300 hand grenades since she began. Her owner, Howard Graham, says she diets on beer and

With a magnet hanging from a string

FRE CLARK General Chairman rican Economic Foundation AS DEBATED BY MAYNARD KRUEGER . Chairman, Socialist Party KRUEGER OPENS: About six:out of every thousand income receivers in the United States have incomes about $25,000 a year before taxes are paid. Altogether they get about 6 per cent of the national income. About 80 per cent of the income receivers get less than $2,500 a year.

The reason incomes should be limited to $25,000 is not that that would solve the inflation oF Calon, The limitation will have to be far more stringent for that purpose. The reason is that it is ply not justifiable morally for a few people to have large incomes when the masses of people are being called on for tremendous sacrifices in both financial and personal terms, People remember that the last war created a new crop of millionaires. They were a liability to the country during the war, and they have been a liability ever since. The probability is that the same thing is happening now, though we will not know for certain until much later. .. People who will serve the national welfare either in war or in peace only if they can get more than $25,000 a year for it are not people we want to depend on for

€D, lany good purpose.

HANNA CHALLENGES: The favorite device of liberals is to quote incomes before taxes. That is like saying that an automobile costs $500

chassis. (And must spend another $500 to obtain the body for the car.) But whether $25,000 incomes are 3 per cent or 6 per cent of the national income, Mr. Kreuger does not in any way, except by repetition of threadbare generalizations, prove that limitation of salaries would improve the existing system of permitting unusual rewards and taxing them according to size. American’s unprecedented standard of living under the existing system has never been equaled anywhere. In contrast, however, the principles in Mr. Kruegei’s proposal have always done the opposite. KRUEGER REPLIES: If nobody get more than $25,000 a year after taxes, there is no reason to oppose the limitation as vigorously as Mr. Hanna ‘opposes it. Under the income tax schedule approved by the house ways and means .committee, there will be incomes, net after tax, several times as high as $25,000. - If we are to stop the onward march of totalitarianism, plutocracy nust yield to democratic equality both here and abroad. Wealthy men make a country neither prosperous nor strong. Many a civilization has fallen because of too much plutocracy, none because of too much democratic equality.

ZOUAVES TO MEET

The Zouave drill team will meet at 7:30-p. m. tomorrow at the home of Mrs. Josephine Apostal, 615 N. Pennsylvania st, Apt. 4. 7

Flu Vaccine Protects 43 hh Of 44 Exposed to Virus

vaccine protects influenza A but there are other types of influenza that occur in epidemics against which the vaecine could not give protection.

Protection against more than one |

type of influenza, however, might be achieved by sterilizing the air with either ultraviolet light or propylene : glucol vapor. Both were equally effective in preventing airer Sap

when for $500 you receive only the

¥

AE any

Should Income Limit Be Fixed at $25,000?

By PHIL HANNA Financial Editor, Chicago Sun

HANNA OPENS: Incomes should not be limited to $25,000 or any other figure if this nation is to continue strong and ‘economically healthy. Any nation which desires to perpetuate its defense strength must provide the incentives which nourish initiative. No one knows what the war machine of the future will be. But we do know that if we destroy ‘unusual enterprise by destroying hope of unusual rewards America can not keep up with the machine world. Some incomes are unconscionably high but society is ‘remedying that progressively by taxes. An income of $500,000 is after taxes only $45.000. If we limit incomes we- shall have a lower standard of living. History is replete with evidence that when restrictions are put upon possible extra compensation for extra efforts progress stops. Races deteriorate and die off under standardization. Russia after 20 years of standardization of pay, has adopted a system of merit rewards according to accomplishment. As between a system where a few rulers have un-

masses are standardized and a system where the individual can profit according to merit and the rules are standardized there is only one choice, i. e. the latter. KRUEGER CHALLENGES: Our economic system is rapidly becoming a planned economy. It will remain so after the war. It may well be that a capitalist system cannot operate without millionaire incomes, but a planned economy can. Most large incomes do not correspond to service rendered. They represent primarily the ability of some to exploit others. ' - If some people get’ $25,000 a year when the average income is considerably less than one-tenth of that amount, it cannot oe argued that there 'is too much standardization of pay. That range is sufficient ‘to recognize and reward all the merit there is.

HANNA REPLIES: To call Iaige incomes “exploitation” is untrue. They usually result from someone starting ‘ a ‘business, creating rew jobs and making a small legitimate profit per worker. The exceptions to this are few and inconsequential. The real exploitation is found in Mr. Krueger's “pianned economy” under. which the government tells everybody when, where, and how to work. But even that doesn’t eliminate big incomes. In 1939 Trotsky admitted that the topbracket concentration of income in fRussia was greater than in the U. 8. A. But in the case of Russia the politicians and bureaucrats got the income. I don’t think America would like that.

limited economic power and the}

CO-OPERATIVE CLUB TO HEAR FBI CHIEF

Members of the Co-operative club of Indianapolis will learn about the function of the FBI during the wartime emergency in the Columbia club Wednesday. The speaker will be J. M. Lopez, FBI chief here. Mr. Lopez will explain how citizens can assist the

i Rep. Voorhis Says Prober’s

. ‘Files Helped U. S. to ~ Get Indictment.

Times Special WASHINGTON, Sept. T.—Sitwce Attorney ‘General Biddle slapped

: down the Dies committee for alleg-

ing that numerous left-wing radic-

|ais are employed by the New Deal,

a Dies committeeman today reminded Mr. Biddle that their work formed the basis for the Indianapolis sedition conviction of William Dudley Pelley. : This reminder covered two pages in the Congressional Record. It was inserted by Rep, Jerry Voorhis (D. Cal), so-called “liberal” memsber of the Dies committee. Claims Prejudice Shown Committee records are cited to show that their investigation of Pelley’s fascist activities began in August, 1939. It was the Dies com-

mittee which exposed the Silver Shirts, Rep, Voorhis pointed out. Their files were turnéd over ‘to. the justice department for use in prosecuting the Pelley case, Rep. ;

Voorhis stated.

“The Pelley case has been particularly difficult because of his nation-wide prominence, widespread - activities, cleverness, and the considerable following that he succeeded in building up by appeals to prejudice and even to religion,” Rep. Voorhis concluded. “Such followers have always included persons of wealth who stood ready to rush in and make bond

bureau in war time. :

for Pelley or finance his activities.”

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