The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1932-12-28
WEDNESDAY. DEC. %. 1882.
STILL A FUGITIVE

The immediate reaction to Greece's refusal to
extradite Samuel insult is that she puts herself in
an ungracous position as debtor seeking favors
from the United States government. But the issue
goes far beyond that
Greece is obstructing justice in a friendly coun-
try with which she has an extraditlon agreement
The technicality advanced by the Greek court in
protecting insult was that the question came under
the head of civil rather than criminal ofenses But
the states attorney made a strong case for an OPP
poste ruling.
The Amsiness of the insult defense was revealed
by the argument of his lawyer that the Chicago
suit was case of political persecution of blame
less indeed heroic, public benefactor. The notion
of the powerful Mr.. insult being victim Of political
persecution will strike Americans as ludicrous, the
final touch Of these Greek comic opera proceedings
If Mr.. insult is as innocent as he claims to be-
he will not regain the respect much less the conf
dence, Of Americans while he remains a fugitive
from justice.
The people Of Indiana have very direct inter
est in insult and his ability to flout the govern
ment of the land that gave him power and empire
The people of Indiana still pay tribute to one of
his many holding companies, one which has with
stood the shock of misfortune that caught up with
OA5op4AAAclOAOAo
utilities
In order to build up that organization an insult
lobby for years directed the passage of laws in the
legislature and the activities of his henchmen were
important factors in the election of high officials
and in the selection of appontve agents, especially
upon the public service commission.
shrewd lawyers lived at the best hotels during
the legislative sessions and tempted the weak the
needy or the convvial legislator. AS result. this
state has proper regulation of any holding
company
With insult successfully appealing to foreign
power in his determination not to return to Chicago
to face a charge of larceny of funds, it may be
worth while to examine the insult structure of pub
lie utility operation and discover whether remedies
are not needed now to prevent their recurrence.
Much stress has been laid upon the fact that
through insult many thousands of people lost their
dollars in his holding company" Stocks but that
the operating companies are still sound.
In order to sell stock in a holding company, it
Is necessary to show an income.
In order to show an income above decent re-
turn on investments in subsidiary operating COM
panies, it is necessary to gouge the public in rates
or charge excessive fees for advice money.
So that while there may be sympathy for the in
vestors, there should be intense interest upon the
part of customers to why it was possible at all to
sell securities in the holding companies
Thousands of home owners, small businesses, big
enterprises robbed by unfair rates before the
investors in the insult issues chat are now bankrupt
were entced into his house of cards.
insult may be in Greece and stay there. But the
holding company of various kinds is still running at
large in Indiana unregulaed, anti-socal brazen to
the last
The incoming legislature will see insult agents in
its corridors 1t will find his former lawyers still as
bland and pleasant as before. They will laugh at the
escape of the master mind TO the sunny chimes of the
Mediterranean. They will plead that there is no ne
cessity for regulation of holding companies
But in this day of the DEAL the law makers
may not be as gube as they have been for the past
decade.