davidaulloa/AmericanStories huggingface dataset:
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1930-04-17
How the Lambs Were Shorn

There are investment trusts and investment trusts
And some are giving the others black eye
Four weeks before the stock market debacle last
October newly formed investment trust entered wan
Street with s6OOOoOoO cash. With this fund.- repre-
sentng invested savings Of thousands OF sharehooeS
the manager loaded up with stocks at top prices A1Oer
tuo months operations the trust reported loss OF
s4619241
Another new trust entering the market about the
same time with reported losses of $7955ooo
as Of Dec. 81. third which, however, had been In
the market for several years showed losses between
Oct. 1 and Dec. 81, aggregating $121oOO,0oO.
These figures mean not only that these particular
investment trusts failed in the function which is It's
only excuse for being-the conservation OF savings
through wise investment management-nut thaV the
institution actually aggravated the evils OF stock mar
ket initiation by developing vast reservoirs OF surplus
speculative funds.
Instead of outstanding small savings intrusted to
them and thus tending to stabilize the runaway mar
et ranv investment trusts accelerated the advance
In the New Republic, John T. Flynn, New YORK
nevspapernan has rendered public service ny expos
a.; + methods Of some of these speculative pools.
One trust controlled $5OO00000 Its sponsors owned
s25ooooo in voting stock The remainder OF the
s5o nm ooo came from sale Of nonvoting shares But
the organizers had taken $3eO0OOO from the treasury
for organization expenses-enough to pay for the
So 100000 worth of voting stock which gave them aOSo
ute control plus reasonable $l3OOOOO for actual Or
sanitation expenses. If the entire $ooOOOooo was
wiped out the organizers were just even Ihls was
the worst break they could get.
Most distressing is the fact that some OF the mis-
managed new trusts we're sponsored by great paiKS'
The banker is in theory, the a-wise fiscal father Oh
the community He guards the uninitiated against Cne
vildcatter. Dispenser of sound investment counsel
and foe of speculation. He is great conSerVator
social functionary worthy of his hire.
But now some bankers seem to have gone invest
rnent trust mad. Instead of tempering the delrlum
of our recurring speculative fevers they have turneu
to stimulating them with people undreamed Oh In
wall Street ten years ago. The good doctor has gone
in for mosquito breeding large scale
The revelations of Flynn's series clearly present
case in professional ethics for the American Bankers
Association They present also an urgent demand 1or
legislation regulating investment trust operations
CONGRESS should not allow the current session 70
end until the nation has been insured against this new
WaIlingfordsrn. This is due to the legitimate ana
wel-managed trusts as well as the public.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1930-04-17
When a Man Loses His Job

When man loses his job, his wife begins to
economic. No matter what the living SCALE the
housewife manages somehow to reduce operating costs
when the pay envelope vaniShes or Is diminished
More spinach and carrots; less meat and eggs; more
SOUP and less cake. Every woman knows the formula
instinctvely even if she has been called upon
to apply it.
That is why the department. of agricultures study
of meat consumption since the stock market crash
is interesting and significant
For the period November February per capita beef
consumption decreased % per cent as compared with
the corresponding period year ago. Per capita pork
consumption decreased 135 per cent, and the COM
bned figures for all meats and lards declined LIS
per cent
This falling of in demand registered at a
time when retail prices of every product of the pack
ing house were on the decline, indicating condition
on the buying side of.the market which apparently
was beyond the normal economic stimulus OF lower
prices.
The so-caled law Of supply and demand teaches
that when demand falls of in any line, it may be
revived by lower prices. This theory Of course, Is
predicated upon the assumption that the buyer has
money. When the buyer has no money, prices must
be reduced to zero before market demand can be
stimulated.
The vicious circle of economic consequences OF I'M
employment is exhibited srikngly in these official
meat studies. Multiply the phenomena by the num-
Der of basic commodities in the national budget and
YOU have the algebraic formula for times OF depres-
sion.
The keystone of the economic system IS purchasing
power The dominant form of purchasing power I'M
der the current industrial organization is wages IN
EMPLOYMENT, therefore strikes at the heart Of ma
tional economic well-being.
Depression may be approached either by frontal
attack upon unemployment or by pulling in the belt
Thus far the nation has drifted down the old valley
of spinach and hominy. We know that route leads
only to still smaller business volume, further price
declines. more unemployment.
The United States is big enough, strong enough,
wise enough to try new course in the present dis
tress The new theory that industry should care
for its own unemployed, and when it fails the gov
eminent should aid the 1oblesS.
This maintains living standards by a blood trans
fusion Of purchasing power into the economic system
BY distributing the burden the entire population,
it hastens permanent recovery.
Wage earners alone can not go on forever paying
the fiddler for the utter lack Of intelligence and
planning by capital and the government as disclosed
In these recurring periods of depression
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1930-04-17
REASON By Ff nzHBfg

T ME country will not take kindly to Postmaster
4 General Walter F. Browns suggestion that the
price of postage stamps be boosted one-haf cent to
relieve the $5O000000 deficit in his department but
the country would welcome a movement to free the
postal service from the burden now imposed upon it
by the abuse of the Thanking privilege.
Senators and representatives should be permitted
to frank the letters they write about official business
but they should not be permitted to flood the land
with their orations at government expense.
And in campaigns, our parties should not be per-
mtted to deuge the republic with carloads of printed
matter, all sent forth under the frank of states
man.
WE also could do without the tons of worthless
w documents now poured forth by various execu-
tive departments at washington.
Some Of these documents are worth while, but most
Of them valuable only to fill the vacant shelves of
young lawyers.
If these abuses we're ended, the postofhce depart
ment would give three cheers likewise the rest of
It would simplify the taking of the present census
greatly if candidates for sheriff throughout the United
States would fill out their own blanks and send them
into Washington.
Basketball is a great sport, but in the interest Of
the conservation Of health it might be interesting to
check up on its effect the health of the boys who
play it.
It's terrible strain on the heart.
THE Mussolini family has given its 2-year-old son
l. the nickname of kellogg" altar the peace
treaty but It's too long to last.
Had they called the kid Stats" that would have
stuck to him. defying time and circumstance.
Joe Yandle of Charlotte, N. c., has built three
room cottage of stray bricks picked up on the street
Think what Mr. Volstead could have done with the
bricks which have been thrown at his law!
Hollywood pair Just has been married under the
water near Catalina Island and it is not likely that
they viii be divorced until they come to the surface.
The president of Argentina did not talk to Mr..
Hoover over that South American hook-up, but If
some foreign power should threaten his country, ne
would call in hurry and ask for the Monroe Doctrine
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1930-04-17
Dependent on Whim

WHAT would become OF our
w boosted prosperity if we were
to eliminate those activities, enter
prises and products which have de-
veloped for no reason in the world
except to satisfy our varied and
peculiar notions Of beauty, sport and
pleasure.
How many of us could get work,
If jewelry, the sweet tooth, base
ball and the movies went by the
board?
Economic progress often hinges on
details and habits so commonplace
or inconsequential as to attract lit
tie attention.
The farmers, over whose plight
our politicians have wept, would not
be in such bad shape if the con-
sumption Of wheat and potatoes had
not fallen off by is or 20 per cent.
And what caused it to fall off but
a sudden craze for the boyish silhou-
cite, a sudden passion for leanneSs,
sudden rebellion against starch
and protein?
The textile industry Is in serious
trouble. If you would know the rea-
son, look at the skirts, or the size
of up-to-date travelling kits.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1930-04-17
Power

a NUMBER of chapters in
N Science and the New Civiliza-
ton" are drawn from lectures which
DR.. Millikan has delivered on vari-
Gus occasions. These and the other
chapters as well exhibit those quail
ties which any one who has heard
DR.. Nillikan lecture will expect TO
find in the book - a, clear and
charming style, a forceful and dy-
manic expression and a fresh point
of view.
The Iayman can approach
Science and the New Civilization
with the assurance that he will find
no technical tangles in 1t.
DR.. Millikan, in common with
such great scientists here and
abroad as DR.. John G. Merriam, Sir
William Bragg and Professor A. S.
Eddington, possesses the ability TO
discuss technical matters In non
technical language.
At the start of the book, DR.. Mil
likan tells of a trip he made to
Europe. He writes:
Gas we sped, a thousand persons
across the Atlantic in an oil-burn-
ing ship in which even the modern
stoker-whose hard fate has often
been held up as symbol of the
evils of our mechanical age'-has
now a comfortable and interesting
Job, for he simply and quietly guides
the expenditure of hundreds OF
thousands of nan-power repre-
sented in the energy of separated
hydrogen and oxygen and carbon
atoms rushing together to fulfill
their predetermined destiny, and
merely incidentally in SO doing
sending the ship racing across the
Atlantic--in the face of that situa-
ton, could I, or could any one not
completely blind to the significance
of modern life, fail to reflect some
what as follows?
"If Cicero, or Peric1es, or any man
of any preceding civilization, had
been sent on similar errand, had
he had any power at all except the
winds, it would have been the man
power furnished to the triremes by
the straining Sinews of hundreds of
human slaves chained to their oars,
slaves to be simply cast aside into
the sea, If they weakened or gave
outl"
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1930-04-17
Where Justice Is Speedy

1t is matter of common knowledge that the Eng
fish somehow are able to instin much greater respect
for the law into their criminal class than we are in
America.
Here's little story that may help you understand
how they do it.
Last fall young man named Sidney Fox murdered
his mother for her insurance He was arrested
little later, brought to trial within three months
speedily convicted and hanged just three weeks after
the close Of his trial
Suppose it had happened over here Chances are
that at least year would have elapsed before he came
to trial Then the trial itself would have lasted three
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1930-04-17
Frances Declining Birth Rate

Othcial French government figures show that
frances death rate last year exceeded her birth rate
The death rate is rising slowly while the birth rate
continues to go downward at an amazing rate
Considering that fact one is led to wor Ter lust
how many decades is France going to be able to main
tain her position the chief continental power in
Europe? Across the Rhine lies Germany-disarmed
and mpotent, for the moment, to be sure, but
possessed already of much larger population than
France and displaying a high birth rate that con-
tinues to swell its population each year.
How long can a shrinking population maintain its
dominance over rapidly increasing one? Ask your
self that question, if you think the present interna-
tional setup in Europe is to last indefinitely.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1930-04-17
DAILY HEALTH SERVICE
- DAILY HEALTH SERVICE
Students Share Old SuperstitiOnS

the list of superstitions and to see
how the average man will react to
them. Among some Of those listed
were:
"a child comes into the world
with an instructive knowledge of
good and evil. This is his con-
science and is born in him." Ac-
tually ideas of right and wrong
are matters of education and ap-
probation of custom.
Certain lines in a persons hand
foretells his future" The idea of
palmistry has not the slightest basis
in established fact.
eff you stare at a persons back
you can make him turn around.
This is a form of telepathy."
Whenever this result occurs, it is
due to coincidence. 1t is. due also
to the fact that few people sit
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1930-04-17

u
+. Daily \
I Lenten Devotion

Thursday, April II
HELP THROUGH HOPE
Read Luke 9:28-36. Memory
Verse: "They feared as they en-
tered into the cloud; and voice
came out of the cloud" duke
9:34-35.)
MEDITATION
The cloud was not as fearful as
the disciples thought. A voice came
out Of it, showing that God was in
1t. Few situations are as dark as
they at first appear to be. II we
enter the situation bravely we find
good in it that we had not suspected
and could not see from the outside.
Resources come to us in hours OF
crisis. Peter found the iron gate
open when he got to it. DR.. Gun
saulus, in his early days, preached
a memorable sermon on the two
words: observation-disclosures"
What seems catastrophe, may ap-
pear far otherwise in the light OF
subsequent events.
PRAYER
o thou. who lowest the strength OF
men, and whose rewards are for the
seeing eye and the pathhnding spir-
it. inspire us to trust thee greatly
and be unafraid. In days OF cloud,
teach us to listen for a voice that Is
within the cloud. Amen.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1930-04-17
SZZE1EXSSS
l9fTj4Iel
EANN|VER$ARY|
.gE2G4
]. P. MORGAN'S BIRTH
April II

0N April II, 1887, John Pierpont
~ Morgan, American fnancier
and art collector, was born at Hart
ford, Conn.
Following his education at the
English high school in Boston and
University of Gottingen, in Ger
many, Morgan entered the banking
business in New York. He at once
distinguished himself in the field OF
international banking.
Some of his more noteworthy
achievements were a syndicate to
take up the bonds negotiated by
President Cleveland and for the
protection of the gold reserve;
financing the largest reorganiza-
ton of railways and consolidation
of industrial properties in the United
States, and organizing the United
States Steel Corporation.
Morgan was the greatest art
collector of his day, his collections
being the largest, and probably the
most important, owned by a single
individual.
In 1912 he gave to the Library Of
Congress a complete set OF auto
graphs of the signerS Of the Decia-
ration of Independence.
He died in Rome, March 81, 1913,
while abroad for his health. His
son succeeded him as head Of the
Morgan bank.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1930-04-17
SCIENCE
Dr.. r. A. Millikan, Noted
Physicist, Denies There Is
Conflict Bet10een Religion
and Science.
BY DAVID DIETZ

DR. ROBERT A. MILLIKAN, ia
~ nous American physicist, views
the future with an optimistic gaze.
Alarmists who see the decline Of
religion in the advance of science
and the disappearance of human
liberty in the spread Of machine
technology, do not worry this inter
nationally known scientist.
DR.. Millikan believes that there Is
no conflict between religion and
science.
He believes that machines, far
from enslaving mankind, "have re-
heved mankind forever from the
worst of the physical bondage with
which all past civilizations have en-
chained him."
In fact, he believes that the chief
concern of mankind is going to be
utilization of the ever-increasing
amount of leisure which the ma
chine and the advance of science is
ushering in.
Here, too, DR.. Millikan continues
to be an optimist. He believes that
mankind will rise to its opportu-
mites.
DR.. Millikan sets forth his views
in book entitled Science and the
New Civilization" Gust published
by Scribners at so.
1t has been my good fortune to
know DR.. Millikan for the last ten
years. I have heard him lecture
many times to audiences of laymen
as well as to scientists.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1930-04-17
Many Mansions

NF course, there would have to be
" some sort of directions because
there are all sorts of Communists
over here. Follow the Red Line"
might do. 1t would be easy to lose
your way.
have a Communist friend who
has been expelled from most Of the
other factions in the Soviet move
ment and now he belongs to group
which numbers just two people, him
self and a man in the Bronx. My
friends lives in Greenwich Village,
and so they hold rallies only every
other month.
That serves to keep the franchise.
want to know why the reddest
reds act as if the slightest puff of
wind could knock the Russian ex-
pertinent down. For instance,
didn't raise a finger against the
Soviet republic, and suppose I had
lifted two-what difference would it
make?
If were out promising a world
revolution, you can bet your life I'd
find something more important to
do than heckling colurnnists.
Copyright. 1890. by The Times)
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1930-04-17
Antique or Not2

THE Nassak, they call it, because
l. it once lay in a cave temple
near that town, and they-meaning
the buyer. the seller, the collector or
customs and the various lawyers who
represent them-would like to know
whether it should be classified as an
artistic antique because it is more
than 100 years old, or merely as
cut, but unset stone.
If an artistic antique, it can be
admitted duty free. If cut but un-
set stone, it must pay 20 per cent,
and 20 per cent on the NaSSak dia-
mond might run into quite bit of
money, since it was appraised as
worth from $125,000 to $150,000 many
years ago.
So we have a raft of testimony
and argument as to whether dia-
mond cutting is an art, or trade,
which involves the question of what
constitutes an art and where the di-
viding line should be drawn.
What gives the diamond its value?
Why has it been priced by us poor
mortals ever since it was discov-
cred? Would it be worth anything
to the possessor, if some one else did
not want it?
We commonly think OF value as
dependent on necessity. OF con-
venience, but the diamond suggests
that sheer love of the beautiful, or
the rare, has a great deal to do
with it.
The savage prince who trades his
birthright for a glass bead, or a piece
of calico, is blood brother to the
wisest of us.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1930-04-17
Not Much Danger

THERE isn't much chance that
i anything terrible like getting
elected can happen to you. Still, 1t
might be embarrassing to run for
the assembly and have your oppo-
nent ask, eff chosen by the people
to represent them in the legislature
at Albany, would you faithfully at
tend each session."
In reply to that I would be COM
PEELED in all honesty to answer, i
wouldn't even think of it." That
might prejudice the voters against
the candidate.
I'd rather wait until next year
and run for the board Of aldermen
That's nearer and I'd be perfectly
willing to promise the same punctu-
atty on the job as displayed by
Mayor Jimmy Walker.
NV friend, McAllister Coleman
who has run for a great many Of
fees on the Socialist ticket a great
many times, says that he gets his
greatest thrill out Of being defeated
for United States senator.
But to get back to the emotions OF
one being heckled, it probably is
true that I laid the trap for my
self. Nobody in the hall seemed
disposed to accept me as an honest
to-goodness Socialist, and I haven't
been an official party member fol-
several years.
I belonged to the Harvard So
cialist Club when I was in col
lege.
But I always thought Of the revo-
luton as something having to dc
with peoples minds. We've got tc
teach others to accept the fact thai
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1930-04-17
IT SEEMS TO ME By HF EEo2;S

A FTER long delay one of my
"A great ambitions has been salts
fed. I've been heckled. I always
wanted to know how it would feel
and how I'd act. Now I know it
makes me mad and get confused.
The Communist boys took me for
a mild ride at the Rand school on
Sunday. The Rand school is, OF
course, a Socialist organization, but
it's forum is open and anybody can
get in and say what he pleases.
That's fair enough.
However, a Communist is, among
other things, a man who can't pos
sibly express himself in anything
less than 10000 words. In all fair
ness to the young reds, must ad-
nit that they gave me a perfectly
fair deal.
I was allowed to stumble and
stutter through my own speech
without interruption, even though I
said that anybody could ask a ques-
ton at any time.
And, as might have been expected,
the left wing boys didn't really want
to ask any questions. They were
there for the same purpose which
drew me. They, too, we're intent on
speeches.
Some of them took us long way
off from anything which had been
said in the original discussion The
chairman had begun by announcing
that I was not a Socialist, but a
Liberal. couldn't stand that, be-
cause I am a Socialist and I have
hopes of running for something
some day.
A man prominent In the party
told me he might find me an open
ing in the New York assembly this
year. But that wouldn't do at all.
OF course, hereabouts it's pretty
safe to run on the Socialist ticket.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1930-04-17
Hunt for HereSy

DUT I am certainly for an evolu-
ID tionary revolution. Even in the
case of the Russian experiment, 1t
is mistake to assume that every
thing took place in ten years. There
were years of preparation.
The chairman said that this was
good MARKHAM Socialism and then
one Of the Communists got after
me. Didn't I know, he inquired,
that this was rank bourgeois heresy?
What right had I to call myself a
good MARKHAM when I preached
such sentimental weakened COM
promise with capital?
Mildly enough I tried to call his
attention to the fact that I had not
taken the name of Karl Marx in
vain or even mentioned him. But
1 didn't get this explanation in un-
til the young Communist was on
the last lap of his first 10000 words.
The chairman took it up and
they began to swap texts back and
forth from the writings of the
founder.
And all the time I was just max
ing a speech and not trying to join
anything at all. 1t ended with the
Socialist part of the audience gath
ering on one side of the room and
cheering the speaker.
And then the Communists went
into a huddle and gave long
cheer with three times defend the
Soviet republic" on the end. Fully
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1930-04-17
Hope

"COULD any man fail to reflect, "
~ DR.. Millikan continues, that
our scientific civilization is the first
one in history which has not been
built on just such human slavery,
the first which offers the hope, at
least, and hope already partially
realized, of relieving mankind for
ever from the worst of the physical
bondage with which all civilizations
have heretofore enchanted him,
whether it be the slavery repre-
sented by Nillet's man with the hoe
"a dumb beast-like broken-backed
agricultural drudge-or the slavery
at the galley pictured in Ben Hur,
or the slavery of the pyramid build
ers referred to in the books of
Moses?"
While DR.. NIillikan is enthusiastic
in his expression of what science
has done for the world, it must not
be supposed that he fails to realize
the difficult problems which must
be met in the future.