davidaulloa/AmericanStories huggingface dataset:
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-09-26
THE INDIANAPOLIS TIMES
Liberal Viewpoint
by DIR. HARRY ELMER BARNES

TN numerous columns / have endeavored to
Il drive home the fact that the major weak
ness OF the present day capitalism is the &omin-
ion Of speculative finance over American indus
try transportation, utilities mining and the ike
II is the triumph of the spirit OF the gambling
casino over the industrial philosophy represented
by, say, Carnegie, or, even better. Henry Ford.
Industrial capitalism may have forgotten the
consumer 10 a considerable degree in its zeal
for production, but finance capitalism ignores
the fundamental interests. of both producers and
consumers Consequently when the gambling
orgy is over, the whole economic system folds up.
The one substantial core Of capitalism Is in
dustrial production and the related transporta-
ton system. When this is Quilted and its but
tresses kicked away, just about what has hap
pened as the result of the reign of predatory
finance for a generation there is little vitality
left in the system. 1t may be good for another
and final gambling squirt, such as that predicted
by Major Angas, but tbs is quite different
thing from real recovery and regeneration.
MOT few business men are longing today
~ for a return of what Forrest Davis once
called the New Jerusalem days. Of Calvin
Coolidge But in his striking book on THE De-
cline of American Capitalism" (Covici-Friede),
Lewis Corey shows that industry was not rela-
lively prosperous even in the Coolidge period.
The real cream of the economic boom was
SKINNED off by the spectators.
Taking the year 1928 as the index year, ne
finds that the profits of non financial corpora
tons were in 1929 only 14.1 per cent higher than
they were in 1923. In fact, there were some bad
slumps in 1924 and in 1927. In contrast to this
very low and relatively static record Of non
financial corporations, we find that the profits
of financial corporations we're 177.3 per cent
higher in 1929 than in 1929 while speculative
profits were no less than 1908 per cent above
what they were in 1923.
Moreover the combined profits of financial
corporations and of the spectators actually
totalled, believe it or not, nearly billion and
half dollars more than the profits of all the
100000 non-fnancial corporations in the United
States.
Mr.. Corey is well justified in his observa-
ton that: 1T is because of these conditions
that the financial olgarchs use peoples money
to speculate, to promote to get control Of combi-
nations"
TINE following table of speculative profits will
i indicate where the money was made during
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-09-26
PRACTICAL POLITICS

THE idealist is apt to be quite radical as
u long as he stays on top of his mountain
peak and surveys the promised land from
distance.
Get him down of the mountain, take him
over Jordan and convince him that he really
Is in line to occupy the palace. however. and
he is pretty likely TO calm down and get more
or less tame.
case in point is being provided these days
by Upton Sinclair. California's well-known
Chamber OF Commerce frightener.
During the primary campaign Mr.. Sinclair
expounded his far-reaching Epic" plan. Per-
sons over 90 would be pensioned: the state
sales tax would be repealed. and homes and
business properties worth less than $1,000
would pay no taxes; vast chain OF communal
farms would be established. and the state
would buy and operate many factories.
The primary election came. and when the
smoke cleared Mr.. Sinclair was found mounted
on his charger with the nomination firmly in
his hand. while his recent opponents fed to
the foothills.
In the days that have misunderstanding
to correspondence in the New York Times
Mr. Sinclair has grown mIlder.
First he went to Hyde Park and chatted
with Mr.. Roosevelt. Then he went to WASH
ington and talked with Messrs. Hopkins and
Farley. and others. Then he went back to
California and talked with such state Demo-
cratic leaders as George Creel. who ran against
him in the primary.
And now 1t is reported that his Epic"
plan is being pruned down 10 fit the knobs
and curves Of political sctualitieS
The pension plan is said TO be gone. Real
estate tax exemptions VIII be granted only
to homes and properties assessed at less than
$1,000. The sales tax may not be repealed
The communal-farms project is being scaled
down The state-owned factories plan is I'M
dergoing a sea change that leaves it looking
remarkably ike the scheme already adopted in
other parts OF the country under FERA
auspices
In other words. Mr.. Sinclair has ceased 10
be . radical and has become q liberal AS q
result. mis- chances Of being CALIFORNIA; next
Governor are considerably enhanced. And, as
another result. We get demonstration OF how
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-09-26

Limit rheM 30 g5O GcoTdS or teSSI
MORTGAGE ASSOCIATION
SETUP ATTACKED
By Observer.
The national housing act gives
authority for the creation of ma
tional mortgage associations. These
associations are to have capital
structure of $5,000,000, which shall
be evidenced by 100000 in govern
ment bonds. The association has
power to issue and sell to the pub
lie $5,0O0,00O of it's own bonds to buy
100000 of mortgages made by
building and loan associations,
banks and trust companies, insur-
ance companies or other lenders.
Without increasing its own CAPT.
tai, which is nothing more than be-
ing a creditor of Uncle Sam, and
drawing interest from the govern
ment on such capital, the asSocia-
tons may issue twelve times their
original bond capital in additional
bonds of their own, to sell to the
public.
The proceeds of the bond sales
are to be used in buying mortgages
| from other institutions.
Not so long ago, the government
authorized private parties to organ
ize similar set-up known as Fed
eral Land banks. These banks sold
bonds to the public and loaned the
money at higher rates to the Ameri-
can farmers. Many sucker fell
for the name federal" buying the
bonds upon the suppoSition that
they were isued by government
owned institutions, which they were
not.
When the earnings of the farm
ers, reflected in prices for farm
products, fell so low that repay
ment of the loans by the farmers
became impossible, these bonds, sold
to the public at 100 cents on the
dollar, were forced down to as low
as 80 cents in the open market.
A large percentage of these bonds
were bought in by Federal Land
banks at very low figures. after the
banks had foreclosed farmers
mortgages. This ruined the price of
farm land but showed a profit to
the banks. Additional money was
made available to these banks by
congress. It was the inability of
the farmers to get price for farm
products large enough to meet his
debt that started the fireworks. The
new associations will very likely
find a much deeper problem than
the land banks, unless Uncle Sam
can assure to the farmers and city
borrowers a sufficient income to pay
the debts.
1t is not more machinery to get
us into debt that we need, but earn
ing power to keep the machine in
operation. We know a lot about
rackets, but give little thought to
sound economics.
If these banks can issue bonds on
federal debts, why not let the bor-
rowers issue bonds on their debts on
farms and homes? This is more
printing press credit currency" of
which we had plenty in 1929. The
government will guarantee these
bank bonds. but not the income
necessary to pay them.
We are covering up boil instead
Of lancing it. What the natural
forces will do to this set-up viii be
plenty. Suckers will bite.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-09-26

BY a Consumer.
Along with the monthly bill
distributed to its patrons for Sep
TENDER by the indianapolis Power
and Light Company came a most
interesting circular letter under
the heading, 80 Minute Paid in
Taxes" setting out some illuminate
ing information in relation to the
taxes paid by the company in 1888.
The statement says that the
company paid almost one-six-
tenth of all the taxes levied in
Marion county, which amount was
more than the combined taxes of
any ten industrial companies in
the county; was also more than
was paid by all the railroads, and
more than twice that paid by any
other utility.
Further information is that
taxes exceeded the total revenue
of the year for street lighting and
all commercial lighting, includ-
ing that from all its customers
in the forty-seyen communities it
serves outside of Indianapolis.
Also, that these taxes exceeded by
$223,000 the cost of all the coal
1880 carloads, making a train
forty miles long, burned during
the year; that they were equal to
more than 80 per cent of the total
pay roll for the year of the LOOT
employees of the company. The
writer has not verified the above
figures.
The final statement was that
these taxes helped support the
schools, police and fire depart
ments, to maintain libraries, as
well as other public purposes, in
dicating by this that the company
was serving benefcent public
purpose, in addition to its service
to its patrons.
Besides being interesting, as
we'll as a quite formidable state
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-09-26
UtiZitu Patrons Pdy It's TdTeS

ment, indicating the Importance
of the company as a source OF
taxation, it is also interesting IN
what is not revealed by these very
significant figures.
The gross taxes of the company
for 1888 amounted to SLIGO, 778,
which included 1898 1872 paid as
federal taxes, leaving 1927, 444
paid in Marion county, including
Indianapolis and other local units,
All of these taxes, by order of
the public service commission and
court rulings, are carried as an
overhead expense to be charged
up in rates to customers. That is,
the Indianapolis Power and Light
Company collected this sum OF
money from its customers to pay
taxes, the customers, therefore,
paying taxes to the company that
otherwise they would have paid
direct to taxing units, only those
escaping who were not patrons OF
the company.
It is these truth statements
issued by utilities that are so mis-
leading to the public.
The thought back OF this circu-
lar letter is to call attention to
the importance of the utility as
source of taxes, thus relieving
other property, and to convey the
impression that all these taxes
would be lost under public owner
ship of utilities.
1t does not necessarily follow
that local taxes would not con-
tinue to be paid under public
ownership, but since it is the con-
sumner who pays the taxes in any
event, if the publicly owned util-
ity is relieved of direct taxes the
rates would be lowered CORE
spondingly, leaving the consumer
taxpayer to pay his taxes direct
rather than through the rates
which are made to include taxes.
In other words, what he pays in
taxes he saves in utility rates.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-09-26
Sc They Say

Within the last months twelve or
fifteen people have been dismissed
from the staff of the relief admin
istration for political activity. -
William Hodson, New York public
welfare commissioner.
There is little chance for me to
become cocksure and self-satished.
- Helen Hayes, stage and screen
star.
This is certainly not the partner
ship that was held out to industry
when the NRA was formed. Roger
4. Selby, president Of the Shoe
Manufacturers Association.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-09-26
GABLE DENIES KHAN
GAVE HIM FLAG

BY a Subscriber.
I understand the women Of Hoo
sier Capitol Khan, No. II, gave How
ard E. Cadle of Cadle tabernacle a
beautiful new silk flag with a solid
brass dagger on top of the staff, but
for some reason Mr.. Cadle failed to
announce to his Sunday afternoon
audience who gave it.
I wonder why? Who are you fool
ing, Mr. Cadle? I wonder.
Editors NOte-Mr. Cadle told
The Indianapolis Times in answer
to this letter that he had received
a flag from the women of his
choir some two or three months
ago. The gift was announced from
the platform, he declared. He
added emphatically that he never
had received flag from the khan.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-09-26
ENUAIERATES FAILURES
OF DEMOCRATS

By Mrs. NJ. z. Mccarthy.
would ike to say few words to
A Reformed Republican. If you ever
were a Republican and voted Demo-
cratic the last election, it probably
was for the same reason the most
Of the Republicans turned Demo-
Gratis, namely. to bring back saloons
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-09-26
Inadequate
BY HARRIET SCOTT oLINIcK

BY HARRIET SCOTT OLINICK
Beside this pool of purple depth
You should wax romantic.
The fountain tinkles 10 the moon,
But you speak words pedantic.
The stars have found this pool Q
mirror.
They preen; the waters fiutter.
Beauty. beauty IS slipping pastl
Your words are bread and butter.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-09-26
NEGRO'S POLITICAL
POSITION STATED
By BENJAMIN A. Osborne.

By Benjamin A. Osborne.
During the ensuing campaign the
Negro voter viii have the time of
his life. What really amuses him is
the apparent failure of high Re-
publican partisans to differeniate
between the Negro Of 1861 and the
Negro Of 1884. Our Republican
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-09-26

The $500 a month pension movement for
people over 60 IS a safe idea, because few Of us
will be able to worry through paying the neces-
sary tax that long.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-09-26
Daily Thought

Let your moderation be known
unto all men. The Lord is at
hand.-Philippians, AS.
TINE good need fear no law; 1t
Il is his safety and the bad mans
awe.-Ben Jonson.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-09-26

the actual prospect Of victory can file the
sharp corners of Of the most visionary Of
idealists.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-09-26

Could 'AIidsumer Nights Dream" being
produced in Hollywood, have any connection
with Upton Sinclair's recovery program?
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-09-26
WORK SITUATION AT
HOSPITAL EXPLAINED

BY Jobless Taxpayer.
Not long ago I applied at the
Central State hospital for employ
ment and was told that the insti-
tuition didn't have any funds nd
couldn't hire any one. I was told
later that the officials and some of
the employees receive raises in pay
from SIS to 500 month. Where
did that money come from2
I understand that four men work.
ing in the boiler room twelve hours
a day, seven days a week, and get
only about 20 cents an hour. Where
is the NRA and what does it mean?
I wonder how some of the officials
would like to work that many hours.
Editors NOte-Dr. Max A. Babr.
hospital superintendent, said that
committee from the five state
hospitals has put into effect an
equalized wage scale at the insti-
buttons. This agreement raised
some wages at the Central State
hospital. The men in the boiler
room are on duty twelve hours a
day and receive 500 a month
salary, but do not actually work
each of the twelve hours. DR..
Bahr pointed out that the men in
the boiler room are on a twelve
hour shift in case of accident and
have not complained to him of
their work.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-09-26

The Italian scientist who found vitamin NJ
in an onion ought to locate the rest Of the
alphabet in garlic
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-09-26

China produced SCI. 100 hockey sticks last
year. If the Chinese had only used them in
their war with Japan. things might have been
different
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-09-26

We've Just heard OF screen star who has
never worked in a l0-cent store. waited
months in a casting Office. nor lived across the
street six years before the studios discovered
her.
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-09-26

The womens western pocket billiard tour
nament to be held in Chicago ought to reveal
great skill-women are experts at getting into
pockets -
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-09-26
The Message Center

Times readers are tMvtted to eCpress
their Ufesos IN these columns. Make your
letters short, so al can hare chance.
Limit them to ESQ CORDS or less.)
The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-09-26

Member OF United Press.
scripps Howard Newspaper
Alliance. Newspaper Enter
prise Association. Newspaper
Information Service AMI Au-
at Bureau OF Calculations
Owned and published daily
except sunday By The In
dianapolis Times Publishing
Company. z14-Z2O West Mary
land street. Indianapolis. Ind.
Price IN Marion county. 2
cents copy: elsewhere.
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cents 4 week. Nail subserfp-
ion rates IN Indiana. 50 a
year: outside Of Indiana. s5
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The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1934-09-26

Phone Riley tt1
Imperial Valley press., 1934-12-14
SUMMONS
1880

In the Superior Court of the State
of California, in and for the
County Of Imperial.
HELEN RUTH GREEN WELL
STUART, Plaintiff, VS.. DUDLEY
LEE STUART, Defendant.
Smith IL Perkins, Attorneys for
Plaintiff.
The People of the State of Cali
fornia Send Greetings to Dudley
Lee Stuart, Defendant.
You are hereby directed to ap-
pear and answer the Complaint in
an action entitled as above, brought
against you in the Superior Court
of the County of Imperial, State
Of California, within ten days af-
ter the service on you of this
Summons-if served within this
county; or within thirty days if
served elsewhere.
And you are hereby notified that
unless you appear and answer as
above required, the said Plaintiff
will take judgment for any money
or damages demanded in the COM
plant, as arising upon contract, or
Plaintiff will apply to the Court
for any other relief demanded in
the Complaint.
Given under my hand and the
seal of the Superior Court of the
County of Imperial, State of Cali
fornia, this 26th day of November,
1884.
EDWARD H. LAW,
(SEAD Clerk.
BY DOROTHY S. REYNOLDS,
Dec. 1-8-15-22-29 Deputy Clerk.
Imperial Valley press., 1934-12-14

WANT MEN-LEARN DIESELS--
Don't learn only one branch of
the business. Get it all in one
complete course. High Speed,
Marine, Heavy Duty-also con-
verting from gasoline to Diesel,
Butane, natural gas and heavy
fuel carburetors. Most modern
equipment for student training.
Earn room and board while
learning. Railroad fare allowed
to L. A. Day and Home Study
Courses. Write for facts and
free booklet. National Automo-
tive School, Dept. H, 4006 S. Fig
ueroa, Los Angeles, Calf. LA
Imperial Valley press., 1934-12-14
NOTICE OF ANNUAL MEETING
OF STOCKHOLDERS OF
EDGAR BROS. COMPANY

Notice Is hereby given that pur-
suant to the provisions of the by
laws the regular annual meeting
Of the stockholders of the above
named company will be held at the
office of the company in El Centre,
State of California, on Tuesday,
the 18th day of January, 1885, at
the hour of 8 o'clock p. m. of said
day.
AT said meeting five directors
will be elected to serve for the en-
suing year and until their success
sors are duly elected.
The annual business statements
of the office will be received and
Imperial Valley press., 1934-12-14
LIVESTOCK FOR SALE

FOR SALE-Hampshire Pigs. 1875
lbs. and up. All club boys here
is the bacon type. $5 your pick.
Hay U. s. No. one SO ton. 2 miles
north, q mile east of Mt. Signal
store. Mrs. E. Blaschko. w. F-4
Imperial Valley press., 1934-12-14
WRECKING

We are Wrecking the old Midland
Hotel at Heber. We have for sale
cheap Ike, 2x4, 2x8, 2xl0, and 1x4
flooring, all in good condition. Al
SO go KS u" windows and 2'8' X
6'8" doors, both complete with
frames and all necessary hardware.
Some odd sash, used celotex, used
lath, and plate glass.
See salesman on job
Ell CentrO Lumber &
Trading Co.
i409 Adams st. Phone 1902
Imperial Valley press., 1934-12-14

FURTHER INFORMATION ON
Feminine Hygiene. No cost or
obligation. After 4 p. m. or by
appointment. Mrs. Helen Fryer,
315 Barbara Worth hotel. l0-6
Imperial Valley press., 1934-12-14

LEAVE YOUR CHILDREN with
me while you do your Christmas
shopping. is p. M, SO cents.
Also win stay with your child
ren evenings, 7-10 p. m, SO
cents. Call 529 Olive street after
4:30. 410 South 5th Street. 1872
Imperial Valley press., 1934-12-14
Thousands uf Opportunities in the lIJaNI ADS
FOR RENT HOUSES

FOR RENT-Small furnished house
in rear $500, 654 Adams st.
lbs
Imperial Valley press., 1934-12-14
SEWING MACHINES

We rent ana repair all makes.
SINGER SEWING MACHINE CO.
65l Main St.-Phone l03
Imperial Valley press., 1934-12-14
SPECIAL NOTICES

WANT DAIRYMAN with COWS to
come to San Diego Produce 200
300 gal. at soc butterfat, no sur
plus. See Earl Northrop for par
,ticulars. 1872
Imperial Valley press., 1934-12-14

FOR RENT-Houses, furnished and
unfurnished, large and small. A
house, apartment or room to sat
isfly anyone looking for a home.
Marie Land, 235 No. Sixth st.
1912
Imperial Valley press., 1934-12-14

FOR RENT-New, modern unfur-
nished one bedroom house. 1244
Olive. Phone 929. 8tO
Imperial Valley press., 1934-12-14
WHITTIER BEATS PHOENIX

PHOENIX, Ariz., Dc. IA UP) -
The Whittier (Calif) College bas-
ketball squad opened a barnstorm-
ing tour in triumphant fashion last
night, running up a SO to 90 score
against Phoenix Junior college. The
Poets led at half time, % to 7. They
meet the University of Arizona to-
night and tomorrow at Tucson.
Imperial Valley press., 1934-12-14
FOR LEASE

FOR LEASES acres especially
good watermelon land, $l2 per
acre. Two miles north q mile
east of Mt. Signal store. Mrs. E.
V. BlaSchko. 1876
Imperial Valley press., 1934-12-14

acted upon and such other busi-
ness as may properly come before
the stockholders meeting will be
transacted.
Dated at Ell Centre, this 10th day
of December, 1884.
EDGAR BROS. COMPANY,
BY w. o. Hinderks, Sec'y.
Dec. IL, 10, 26, Jan. 2, 8.
Imperial Valley press., 1934-12-14
MISCELLANEOUS FOR SALE

FOR SALE-Head Corn. 3h miles
west, q miles south of Ell Centro.
o. B. Johnson. 14-3
Imperial Valley press., 1934-12-14
HELP WANTED

WANTED-Woman, house work,
country. Phone 19-J-l Calexico.
1873
Imperial Valley press., 1934-12-14
FOR RENT

FOR RENT-Forty acres vegetable
or grain land. Meloland district.
Has been plowed for six months.
Chas. r. Kelley. Hatton Garage,
Ell Centro. SO
Imperial Valley press., 1934-12-14

Travers Brothers, Watsonville,
Santa Cruz county, are spending
$4,000 on machinery for their
prune packing plant.
Imperial Valley press., 1934-12-14

FOR SALE-Good wheat straw
mixed with alfalfa for dry stock.
$3.50 per ton. -Four miles west on
highway. Richter. 1875
Imperial Valley press., 1934-12-14

FOR SALE-Practically new gas
heater bargain. $50 So 9Th. 1873
Imperial Valley press., 1934-12-14

THE lizards tail separates body easily without
loss OF blood Even fright enough to 1t to detach Itself
A bird which snares lizard by the TAIL intent making
of him, finds late. reptile tail and
parted.
Imperial Valley press., 1934-12-14

j E s 8 IE cor N E R
795 Main Phone 474
''For Better E. Centro Homes''
40 acres Meloland, all ready pre-.
pared vegetable land. Very reas-
enable. Good house.
Imperial Valley press., 1934-12-14

ROLLER CANARIES - Fancy
breed Green and yellow. SO up.
Mrs. Isaac Mcbride, mi. south,
4 west of Meloland. 1873
Imperial Valley press., 1934-12-14

FOR SALE-New house-car, bunks
two nicely. Particularly suitable
for canal workers. $751; Adams,
Ell Centro. l0-6
Imperial Valley press., 1934-12-14
FURNITURE FOR SALE

FOR SALE-Starr piano, electric
range, and baby buggy. $50 Olive
ave. Ito
Imperial Valley press., 1934-12-14

FOR SALE-Grapefruit, 2Oc dozen,
medium to large fruit. Also Athel
stove wood, SO rick at Strickland
ranch, 2 miles west of city water
tank. 8t0
Imperial Valley press., 1934-12-14

FOR SALE-Perfect seed wheat, A
miles west on highway. Richter.
1876
Imperial Valley press., 1934-12-14

FOR RENT-Unfurnished 5-room
house at 842 Adams. Phone Rey-
nolds 991. 25tf
Imperial Valley press., 1934-12-14

FOR SALE-Compiete set of Wear
ever aluminium cooking utensils.
B. E. Wixom, Seeley, Calf. 1913