Ligonier Banner., Volume 66, Number 7A, Ligonier, Noble County, 29 February 1932 — Page 2
The Ligonier Banner ' Established 1856 Published by : THE BANNER PUBLISHING (0. W. C. B. Harrison, Editor M. A. Cotherminan, Manager PubW¥shed every Monday and Thoredas end entered the Postoffice at Ligonier Indiapa, as second class matter.
Wawaka News Wawaka boys basketball ball fix st team won over Wolcottville at Wolcottville Friday evening score 23 to 16, Wawaka boys second team lost to Wol. cottville score 26 to 14. Wawaka girls hasket ball team playing at Wolcottville Friday evening won over LoOtto girls team. The eighth grado basket ball teams played at Wawaka avainst Washington Center and won. Mr, and Mrs. Charles Medlen of neay LaGrange will move® about March 1 to the residence of Mr. and Mrs, Vern Medlen on the John Walker farin. Mr., and Mrs. Ross Fulk announcc the birth of a son Kenneth Dale _ Fifth and sixth grade children of Wawaka attended the '‘Noble county teachers’ institute last Saturdayv at tke
Albion court house, and sang in children’s choruses. The Wawaka hich school orchestra playeq soveral selections. All teachers aftended angd heard Dr. WK. J. Gratz Epwogth Herald editor of Chicago in two interesting lectures. Wendell voung son of Mr. and Mrs, Cecil Phares is ill - The Washington bi-centennial birthday services held at the Baptist church Sunday were very impressive. Rev, Floyd Smith's sermon on “The Religionus Principles of George Washington” was profound and philosophical Music bér‘gt.he community male quartet Carleton Poppy, Earl Troyer D. W. Hooten and Charles Franks thrilled all, The church was beautifully decorated and imbellished appropriately for the celebration. . Rev. and Mrs. Floyd Smith and fam.ily were at Burr Oak Sunday night where Rev, Smith preached on “The Religious Principles of George Washington.” Mr. and Mrs. Cecil Phares were business visitors in Topeka Saturday, Mrs. Elva Herald and guest Mrs. Cora Lepird were in Topeka Monday. David Dunlap Ligonier was a business visitor here Monday, Noble county will plant trees on
April 30. Wawaka schools will observe the day and plant trees. Members of the Elkhart Township Home Division will attend the program given by the Albion school band in the Albion opera house March 20. The program is to be a tribut to George Washington,
Kimmell News Miss Beryl Clark visited in Sturgis, Mich., several days as guest of Mr. and Mrs, Paul Yoder. Mrs. Ida White and Mrs. Marion Growcock who have been sick are improving, Mrs. Mary Burnheimer of Nappanee and Mrs. Martha Love of Milford were recent visitors in the home of Mr. and Mrs, C. F. Haver Mr. and Mrs. Vern Fisher and sons of Ligonier were Sunday evening visitors in the home of Mr. and Mrs. Lloyd Gowdy : Ernest Woods of Wayland Mich,, was a Sunday guest of his mother Mrs. George Weaver, Floyd Murphy has moved from the Charles White farm to the Stumbaugh farm near Kimmell,
Mrs, Harry Loy of Fort Wayne is spending a few days at the home of her parentg Mr, and Mrs. Growcock.
Mr. and Mrs. A, M. Neufer Mr and Mrs. Harry Killbury and daughter of
Sturgis, Mich,; Mrs. Etta Sherwood of Kendallville; Mr. and Mrs Williagm Vance, Mr. and Mrs Clarence Vance and daughter of Goshen; Mr. and Mrs, Harold Gard and children of Ligonier were Sunday visitors in the home of Mr. and Mrs. C. E Bufts Mrs, Almeda Shew of Orman is a visitor in the home of her son Paul Shew Miss Evelyn Shew. was a Synday guest in the home of Mr. and Mrs. Orland Murray near Kimmell. Now is the time to pay your Banaer smbscription—DO I'T NOW?
Home Realty and Investment Co. J. L. HENRY, Mgr. INVESTMENT = 'SECURITIES == " Real Estate andif§ ‘- Farm Loans -- INSURANCE -- AUTOMOBILE Cyclone and Fire. Health and Accident and Em- _ ployers Liability R : ) | Suret)t Bonds Rooms 3 a'nd 4 ’Levy Bldg.
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DiSmal News
M, Mullen and wife of Chicago were recent guests in the Ralph Lung home.
Mrs. Arvilla Buchtel and daughter Anna entertained the Ladies Aid last Thursday afternoon. :
Banford Bird and family were Sunday dinner guests of Mr, and Mrs. Harlan Bird.
Maurice Lung is ill with the flu. Mr and Mrs. Claus Bobeck and son Harold were entertained at Sunday dinner by Mr, and Mrs. Roy Stair in Fort Wayne. Mr. and Mrs l;lbeClintic of Fort Wayne were recent guests of the latter’s parents Mr and Mrs. Solly Bowser, Frank Burley is visiting a sister and brother-in-law Mr. and Mrs. Wayne Avery and son Richard of Anderson. Mr, and Mrs. Lee Lung and son Wilbur spent Saturday evening at the Dora Clingerman home. Mrs. Milbert Bitner, Howard and Katie called on Harold Bitner and family in Ligonier Monday evening.
May Probe Afiairs
Luther F', Symons state banking commissioner and Charles Warner deputy attorney general will go to South Bend today to investigate liquidation of the Union Trust company, it was announced by Attorney General James M. Ogden after a conference with Symons. : ‘
~ The announcement came after a request was received from Prosecutor Samuel P. Schwartz of St, Joseph county, that an auditor be assigned by the banking depariment to inspect records of the defunct trust company.
Warner who was in South Bend for a preliminary survey of the situation recommended that Schwartz request for an auditor be granted. : Symons’ decision to go to South Bend was taken as an indication that the banking department may be planing a detailed inquiry into the trust company’s records, _ To Oppose McNutt John E. Fredrick Kokomo president of the state chamber of commerce announced his candidacy for the democratic nomination for governor. The brief announcement handed newspapermen said Fredrick favored repeal of all mandatory state laws that control city and county governments and a shift in the tax burden from real and personal property to other revenue sources.
In explaining his stand Fredrick said he believed in the principle of home rule, He declined to name any specific recommendations for changes in the taxation system. Other announced candidates for the democratic gubernatorial nomination are Paul V. McNutt Bloomington, and Mayor Wood Posey, Terre Haute. _ * Scarlet Fever Heads List . According to the re¢port in the January number of the Monthly Bulletin of the Indiana State Board of Health there were 13 contagious diseases list ed in Noble county, Scarlet fever ‘headeq the list with 9 cases.- There wag one each of tuberculosis chicken [pox typhoid fever and diphtheria.
During December there were 26 ldeaths in the county 13 of which ‘were persons over 65 years of age. iOf the deaths one resulteqd from typhoid fever, 1, pneumonia; 3 influenza; one suicide, three accidental and three, cancer, Thirty-one births were recorded. : Judgment for $25,000 A circuit court case pending several years was ended at Goshen when Judge Davis found for the plaintiff in the sum of $25,000 in the case of Anna Wilard executrix of the Stanford Willard estate against John P. Stauffer' for money received on'a loan. | - The Liggett pharmancy ta Indiana-.! polis was robbed of $1,200 by there bandits in a daring holdup. 5
TO MEET TUESDAY
Purdue Specialist and B, & 0. Agricultural Agent Are Chief ~ SpeakeT's
All potatoe and onion growers in Noble county are urged to attend a growers’ meeting to be held at the county agent’s office Albion Tuesday March Ist 1:15 p. m. W. B, Ward of the Purdue horticultural department and P. O. Hurley agricultural agent for the B & O, rail road will be the principal speakers. Mr. Ward will discuss growers problems in general and will outline rules for the 400 Bushel Potato club and 1000 Bushel Onion club for this year, Mr. Hurley will explain the B. & O. Onion club project and will' want all co-operators for thig year at this meet ing,
The 1000 Bushel Onion club and 400 Bushel Potato club have proved valuable to those co-operators to the projects by teaching best methods of economical production. All Noble county growers are urged to mark their calen dars now and attend this annual gettogether.
Salesman Is Sought
‘Warsaw police authorities are attempting to locate fake salesman who is said to have used several aliases and who obtained money from a number of residents of that city by representing that he was a salesman for the High Grade Garment Geneva, Ind. The man' took orders and obtained down payments with the under. standing that the remainder of the price was to be paid on delivery of the goods and then left Warsaw The" Geneva company has written the victims that. the man was not a salesman for that concern, He also is alleged to have operated in Fort Wayne and Columbia City.
Hurt In Runaway Accident
Chris Heilman farmer near Corunna is at Sacred Heart hospital Garrett suffering from serious injuries sustaineq late Thursday afternoon when the team of horses he was driving becamé€ frightened and started to run away.
Heilman who was riding on the ‘wagon was thrown to the road and one" wheel of the wagon passed over his head. His scalp was nearly torn off and one ear was partly severed He was unconscious a short time after the accident.
3 Killed at Crossing.
'~ Three persons one of them a prominent Hammond attorney were killed Friday when their auto crashed into a moving Grand Trunk freight train southeast of there. . The dead: . George Eder 45 Hammong attorney Mrs. Mae Beherns, Hammond,. ‘Mrs. Catherine Clark Hammond. Trainmen were unaware of the accident until the train stopped at Chicago an hour after the accident occurred and found wreckage of the auto on the train,
Has Big Collection of Data.
~ The Lincoln Historical foundation | at Fort 'Wayne has the largest collection of data concerning the Civil war president ever gathered about one man. Biblical character excepted Dr. Louis A, Warren director of the foundation announced. ! . The collection was star®d four years ago. It includes the famous Brady photograph of Abraham - Lincoln, a gift from his son Robert Todd Lincoln to Arthur F. Hall president of the Lincoln; National Life Insurance company, : i Steal Gems WoTth $9OO. ' Thieves who broke into display windows of the [P, E. Smith Jebwelry store at Indianapolis obtained .gems valu-' ed at nearly $9OO. The theft was discovered by a small girl who found a diamond ring near the entrance of the Rlese. . L LT
THE LIGONIER BANNER, LIGONIER, INDIANA.
TO COAX OUT HOARDED MONEY
Bonds Will Be Sold ThFough Banks and Run For Year—lnterest Rate Undecided
Final details of a plan to offer an “unlimited issue” of small denomination bonds as part of President. Hoover’'s anti-hoarding campaign will be announced at the treasury. This was made known at the white house by Secretary of Treasury Mills following a conference with the president, The bonds, it is expected by the government will help coax money from hoarders by offering a safe investment. :
Mills said the bonds would be made available March 7. He said the amount of the issue would not be limited. ;
‘“We do not intend putting a roof on it”? Millg said, - The bonds will be in $5O, $lOO and $5OO denominations and will run for one year.
“We expect to decide definitely later on the interest rate” Mills said “and I think we will make the announcement at the treasury after wiring Col. Knox in Chicago.” ~ Col, Frank Knox Chicago newspaper publisher is head of the president’s anti-hoarding organization. In a gtate ment several days ago, Mills said that the interest would be “at least one and one-half per cent.” Prior to this there had been reports that the issue would .bear between three and three and one-half per cent interest. The bonds will be sold through bankg all over the country the issue being handled somewhat in the manner of Liberty bonds during the World war,
Bandits Found Bank Closed
Two bandits made a bold foray on the Paoli State bank just before closing time one day last week but the attempt was a miserable failure. The bank is defunct. . : Cecil Johnson ofrmer casheir O. C. Hamm a director and Mrs. Leona Atkinson a bookkeeper were in the bank working on liquidation when the bandits entered. They snickered when the gunmen ordered them to lie on the floor. ‘
“This bank is closed” Johnson told them, “It’s only open to receive payments from debtors.’ g The bandits paid no heed and started a search for money. - They uncovered $lO and then ordered. Johnson to open the safe, Johnson again protested that the bank was defunct. Still unconvinced the bandits locked the employes in a restroom and conducted a second search. They found no more money and fled in an auto bearing a Kentucky license,
Liggett is Candidate
Ralph Liggett of Warsaw a Democrat and state policeman for a part of the Elkhart county district has entered the race for sheriff of Kosciusko county subject to the pirmary May 3. Liggett enterg the campaign with the approval of Secretary of State Frank Mayr, Jr., his superior officer and as the result of urging on the part of many Democrats of that county. :
Charge Mi®management
Mismanagement was charged against trustees of the estate industrial aid school for blind and the Indiana state school for the blind by Morris Field president of the Indiana Welfare League in an address at the Central Labor union. Field demanded an investigation and removal of trustees of both institutions, . :
Hurley in Statement
Secretary of War Patrick J. Hurley Friday issued a statement saying that Chairman John J. Raskob of the democratic national committee was in much better position to speak regarding the money spent “slandering and misrepresenting” the president than regarding his prohibition views.
" PANICS OF THE UNITED STATES . BY R M A period of prosperity will lead the business world in the hope of still larger profits; to undue extension of all branches of profitable industries, or industries believed to be profitable. . :
In all parts of our country for many ' years business has been based on credit, and in times of prosperity this credit is lavishly granted as one means of business extension; and over production, fall in prices, failures of farmers, merchants, and bankg follow, Complete distrust results. Men with money often hide it or lock it in vaults; and even solvent banks often refuse loans to perfectly solvent business men and farmers. This conservatism, usually as extreme as the preceeding expansion, will bring about a money panic which intensifies the crisis, The result is a fall in prices, usually below the normal. A period of inaction, a period of extreme depression followsg. This period is followed by moderate prosperity, increasing again gradually to extreme properity, ending in the next panic. The recurrence of the events shows a certain priodicity. The periods in England before the World War were about ten years. In this country the periods have been more irregular, 1819, 1837, 1857, 1873, 1884, 1893, 1903, 1907, 1920, 19231, 1931 .
Causes of 1819 Panic
‘Commerce _ increased unmolestedl very rapidly after the War of 1812.! Money became plentiful. The re-or-ganization of the United States Bank with branches in several states created improved facilities for credit which gave rise to many .extravagant speculations generally conceived in dishonesty and carried on by fraud. Through trickery and fraudulent methods these speculators succeeded in with drawing from one branch bank alone several millions of dollars beyond its securities. This was the primary cause. A sécondary or tributary cause was the withdrawing of $7,500,000.00 to redeem bonds due which had been issued to France for the Louisana Territory. Hence a a shortage of money for legilimate ;bUSiness was followed by the panic L of 1819. .
Cause of Panic 1837 Andrew Jackson who hecame president in 1829 was: opposed to the United States Bank. He pronounced it unsafe. He vetoed the bill for rechartering it in 1832, and with drew and placed the money in state banks called banks of deposit. His enemies calleq them pet banks, The country had prospered, paid off the National debt, and had a surplus of $40,000,000.00. This was distributed to the new banks, the number of which had suddenly increased to over seven hundred. This abundance of money started all sorts of speculations. The credit system pervaded every depart‘ment of business, Vast issues of irredeemable money stimulated the spirit of speculation and increased the \opportunities for fraud. The settlers 'and speculators made a grand rush )fmgthe western lands while money was plentiful. President Jackson 'seeing the mistake issued . the specie lcircular, in July 1836, demanding that only gold and silver be received for public land. This saved the interests of the government. The disastrous effect on the public came the next year, 1837, during the first year of Vanßuren’s administration, Banks ‘closed, merchants failed, farmers failed. 'The disaster swept through every avenue of business. As usual, President Vanßuren was blamed by I'the public for the entire financial crash. Although it was all caused by lthe wild speculation encouraged by
the distribution of the public money among the pet banks by president Jackson, During 1838 business began to pick up, but trade was less vigorous than before. Campaign orators took advantage of this and the sentiment of their speeches was intensified by strawberry faced store box oratory, In spite of all this the country con!tinued to prosper slowly. Gold was discovered in C(California. The increased wealth again led men to. over do all kinds of business. More railroads, manufacturers, and merchants could not pay their debts. Nearly all the banks in the country failed. The depression was on, This was the panic of 1857. Over indulgent speculation was the cause, slightly different from that in 1837. President Pierce got the blame this time. The national wealth now amounted to about $15,000,000,000.00. By 1873, the National wealth had grown to about $35,000,000,000, Now came the next crisis, caused principally by only one form of specu-
lation, namely, excessive railroad contruction. In New York, the panic was so great that the New York Stock Exchange was closed for twelve days. Business passed through the usual panicky stages, and by 1879, prosperity again was on. It increased until July 1881. The assassination of President Garfield on the second day of that month being the epoch from which the decline is usually dated. This gradula decline increased, with occasional re-actions until May, 1884, when a panic again was a reality, [ The cause of this pamic was the ;fluct-ation in value and volume of National Currency.. Out of j this had arisen a .wild spirit of speculation, which destroyed financial confidence and ended in disaster. The excite‘ment was intense. The Banks in New ;York, the center of the' panie, cooperated and assisted each other, thus limiting the casualties to one failure and one suspension. The usual depression followed. ~ In 1886, business was slowly recovering, and the usual period of inflation was coming, The result was gradual prosperity until in. 1893. During the summer of that year Banks
and large manufacturing corporations‘ of New York became finzmciallyj embarassed. ‘The ftnal crash came in the last week of October. This affected the business of the entire country, Commercial failures were numerous. ‘ : The National wealth now amounted to about:$100,000,000,000. The Nation’s prosperity being supported at that time by immense natural resources, business soon picked up, and continued until in 1896 and 1897. But this panic was more sectional and not so universal as those before.
The country’s wealth was now about $140,000,000,000. o No serious panics resulted again until 1920 to 1921, This was really not a panic, only a check in business during the transition from war business to natural and domestic business conditions. A mechanical and commerical reorganization and readjustment was necessary. The enormous wealth of the country was quite generally distributed and continued to increase until 1929, when it amounted to about $400,000,000,000. - Never before had a. people of one country had so much wealth, and also had the power and resources to produce still more wealth, with which to continue to raise their standards of
living and increase their corr)forts! and their happiness. ‘ Principal Causes of the Present Crisis.” It is evident frof the above figures on National wealth, that after each period of distress the country was capable of producting, and did produce wealth more rapidly than ever before. This was due largely to the attained progress in industrial education, together with the invention of a multiplicity of comfort including and labor saving machinery and devices. This was especially true soon after the panic of 1897, andg ever increasing until the present day. v As the weatlh accumulated hoards of speculators and high powered sales men were after it, and with ever increasing rapidity, they captured the floating wealth and in addition also captured much money for which mortgages still exist. .
On Feébruary 1, 1932, a statement was made public which showed that J. P. Morgan Company, from 1919 to 1932 had sold enough foreign Bonds to people of the United tates to make Morgan and Company a profit of $10,883,636.00. The same report showed that the total foreign securities sold to the American public from 1914 to 1931 was estimated to be about $15,000,000,000. - :
These documents carefully checked by and for the Department of Commerce, show a loss by the investing public of more than $2,000,000,000, as a result of depreciated and worthless foreign bonds. The bankers who sold them were said to have made nearly $1,000,000,000 in commissions. These foreign securities were not peddled among the farmers and . laboring people, but were sold to large banks and to people of much wealth.
During this long period of prosperity dating practiéally from 1897, small banks in great numbers sprang up in small towns all over the country. It seems evident that these smaller banks were not so much a necessity to the public of their respective communities, as they were a necessity to the speculators who showed a sort of paternal interest in promoting them, It was largely through these small Banks that these instituted paternalizing speculators got the money with which to conduct their speculations. Again, it seems evident that when the deflation period was devloping, these speculators found it convenient to dispose to these Banks and through these Bank to many of the bank patrons, their inflated and now depreciated securities. .
There were many forms of speculation in which the general public was induced to participate. : - The rural and village public ceased buying when its accumulated money and credit were gone. Manufacturers slowed down and ceased operations. Millions of laborers, who always live from hand to mouth, together with many who live wisely in normal times, but who were caught unfortunately, must be fed, Happily, thousands of people of wealth have contributed -liberally, from Mites to Millions of dollars. The panic is on and every one knows it. :
Of necessity, reconstructions and reorganizations followed every previous panic. The longer the period of prosperity which preceeds the panic, the longer the time required to reconstruct and reorganize after it. Much of this work is not only started but completed long before the public learng of it, Such work has been in progress for the past geveral months. It is commonly known that the great Automobile Companies have been at it for the past year. Railroads for economic veasons,,6 also are making great changes. With them, it is a question of either quit or progress, and the railroads will not stop serving the public. They are the country’s basic system of transportation. The oldest Trunkline east of the Misaissippi, - hag set aside millions for extending electrification, A large order for electric - engines has been placed with the General Electric and Westinghouse people. It is understood that the second oldest Trunkline is considering financial arrangements for similar changes. Hail! Hail! the country is coming back to a higher plane than hag ever before been enjoyed. : - Without a doubt there are hundreds of similar propositions under consideration at this time. But reconstruction and reorganization of great industries can not be accomplished in a day, nor in a week, nor in a month. Our great industrial units
are as great a basic factor, possibly greater, in .the prosperity of our country, as is agriculture, The President’s latest financial policy, agreed to by leading Republicans and Democrats, will if carried out, set free for legitimate industry, millions of dollars and will hasten the beginning of a new era of prosperity.
‘Project Leaders to Meet : Ninety-eight cents so science has proved is about the value of the human body. Each individual is made up of fat, iron, sugar, lime, phosphorous, magnesium potassium and sulphur the value of which when added together isn't worth quite a doollar, To those women of Noble county who are feeling wealthy and to those who feel like the proverbial 30¢ come to the first meeting of the INutrition ’project to be held March 3 at 1:00 p. m., examination room court house, Albion and let Miss Aneta Beadle of the Home Economics extension department of Purdue University help you fill your true valuation. Each woman please bring pencil and paper.
- The morning session is at 10:00 a m and is for the local leaders at which time Miss Beadle will outilne the work of the year and all plans will be made The afternoon session is open to every woman in the county. If there is any interested worhan in Noble' county not already enrolled in ‘a Township Unit of the Noble County Home Division see any member of the Noble County Home Division or call the county agent’s office, Albion and the work will be explained.
Human Skeleton Found
A skeleton of a human being was unearthed by workmen on the pleasant Run Municipal golf course at Indianapolis. .
A ragged crack on top of the skull led police to believe the vietim was murdered, The decayed condition of the bones baffleq first attempts to ascertain whether the skeleton was that of a man woman or child. A search for objects which might lead to identity of the victim was futile.
Faces Charges
Charges of non-support of his family are faced at Marion by Milton Lee Mungér, Indiana’s checker champion who yetained his title despite being arrested during the tournament at Anderson and being forced to continue play in custody of a deputy sherift. -
To The Voters of Noble and Whitley Counties
I wish to announce myself as a candidate on the Democrat ticket for Judge of the 33rd Judicial District, subject to the Primary Election to be held in Noble and Whitley Counties on May 3 1932. ; Your support will be appreciated . CLAUD V. BARKER
To the Voters of Noble County & I wish to announce myself as a candidate on the Democratic titket for state representative of WNoble county, Subject to the primary election of May 3 1932, Your support will be appreciated. ; '_ . Theadore J. Spurgeon, - andidate For Clerk W, W. Dibble Green Township Democratic Candidate for Clerk of the Noble Circuit Court at the Primary Election May 3. Your support will be appreciated. . Will Be Candidate ‘ I wish to announce that I will be a democratic candidate for Clerk of the Noble Circuit Court subject to the primary election May 3 1932, JOHN W. LEITER, Kendallville Ind.
- 0606 LIQUID - TABLETS - SALVE 666 Liquid or Tablet used internally and 666 Salve externally, make a complete and effective treatment for Colds. Most Speedy Remedies Known
e (O ittt AN L& \ gt T en'“"'-Ps piio « 1D —=PHILU B, ¢,i | wof MAGy, | Sl !l | 3 A 5 1 f;’ I 8 ? Ll For Troubles [ MU "9 Yo Acid ' il INDIGESTION || il aciD sTOMACH Ll caSes-nausea ] EXCE‘SS acid is the.common cause of indigestion. It results in pain and soumr ness about two hours after eating. The quick corrective is an alkali which will neutralize 'acid. The best corrective is Phflilé)s Milk .of Magnesia. It hag remained standard with physicians in the 50 years since its invegtion. - : - Onespoonful of Phillips Milk of Magnesia neutralizes Jinstantly many fim its volume in acid. It is harmless tasteless and its action is quick. You will never rely on crudé methods once you leartt how quickly this method acts, Please let it show you—now. Be buré t 6 gt the genuise, “Milk o \ mul& o "“m,,;f od Chemical Company and its predecesser