South Bend news-times. (South Bend, Ind.) 1913-1938, 1922-11-22
Ole publiepulSo
SECURITIES MELTING


South Bend, Ind,
Nov. 81, 1922.
Editor, News-Times.
City
Dear Sir, 1 am enclosing here
with an article, that I hope you
will be able to find room for in
your valuable publication, as 1 do
not think that citizens generally are
informed Of this subject.
Respectfully yours.
Orlo r. Deahl
The first Annual Conference of
the Central States Group Of Securi-
ties Commissioners, which convenes
today at the Spinks Arms Hotel,
Indianapolis is a movement OF ma
tional Importance. From this meet
ing may come a standard Of regu-
latiOns and methods OF procedure
at least this is what iB hoped for
The attendance of those interested
from present indications will tax to
the utmost the hotel accom- oda-
tions of the capital city. W. II.
Woolums, 1875 Lncolnway E, South
Bend. has received an invitation
from the Securities Commission, NJ.
L. Mendenha1, president of the
central states group. and also the
Chamber Of Commerce OF Indian
apolis. and will attend the confer
ence.
Mr.. Woolums is especially inter-
ested in the developments which
may come from this first annual
conference. for the reason that Mr..
Woolums Is not only a man of bust
ness affairs, but is a promoter and
an inventor, as we'll
Mr.. Woolums now has patents
pending in Washington for an au-
tomobile direction Indicator, which
will clearly indicate to the traffic
policeman and people on the street
lust what the driver intents to do,
as the automobile approaches inter
sections and also to the Iaffic in the
rear following the automobile. The
front signal forms the Taditor cap
and has a three-quarter size hand
pointing right and left, with a stop
signal in the center. This device
has been completed, with the ex-
ception Of the colored classes. which
form the face Of the hands these
are being moulded by a glass con-
cern in North Carolina. which pro-
misses delivery this week.
George Oltsch and Co, Patent
Solicitors in the J. NJ. S. Building
prepared the. patent papers, Wood
ward Pattern Works, South Bend
made the patterns. Lincoln Brass
Foundry. South Bend, made the
castings. South Bend Polishing and
Plating Co. is doing the polishing
and nickel plating, and National
Film and Protector Corporation Of
Niles Michigan drew the plans and
specifications and are doing the as
sembling work. This patent. II II
works successfully as the inventor
anticipates will fiji a long-felt want.
There is probably nothing today Of
much more Importance than protect
ing the automobile from the fol-
lowing traffic and the traffic which
approaches at intersections. At all
times the foot traffic and the auto
mobflist will known exactly what
the automobile equipped with this
device Will do.
If Mr.. Woolums has invented the
right device the South Bend district
viii have another enterprise which
will bring money 10 the city from
al the states. This all leads up 20
The statutes OF the State Of Indiana.
Mr.. WoOlums IS spending thous-
ands OF dollars in production Of the
first few samples OF this automobile
direction indicator. II he were to
form a company and sell this pat
ent 20 the company under the re-
sent statutes OF the state OF Indiana, /.
the Securities Commission could /
tell the company just how much it |
would be allowed 10 pay in the
stock company 10 Mr.. Woolums for
this patent and he would have no /
appeal from the decisions OF the
commission. II IN the opinion OF the /
Commission the patent was only .
worth one-half as much money as
he had actually spent in the pro-
fuction OF his samples. then that
amount would he al an Indiana
corporation would he allowed 20
pay in the stock OF the company: