The Waterbury Democrat., 1942-09-19
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(Reg. U. s. Pat. Of) BY JACK CUDDY

United Press Staff COrreSpOndent)
 New York, Sept 19 - (UP) - Latest announcement from the sportswriters' committee regarding the Louis-Conn fight accentuates the part Promoter Mike Jacobs plays in modern pugilism as the "bank-roll guy"
 The announcement that both Bomber Joe and Billy-the-Kid would participate in the gate brought the following listings of indebtedness to the fore: CD Louis owes the 20th Century Club, or Mike Jacobs, $59,505.50. The fact that Louis also owes his co-mana- ger John Peterborough, 41,14S.03 is more or less unimportant. Conten- der Billy Conn owes Jacobs 20th Century Club $34,500.
 In other words Louis and Conn owe Promoter Jacobs total of $94, 94,305-money that Jacobs already has invested as loans to champion and challenger so they could keep up with ''The Joneses."
 Personal Debts
 Under the latest announcement from the committee of writers, both Louis and Conn will be permitted to settle their immediate personal debts out of the gross receipts which include gate, radio and movies.
 Those debts doubtless will be set tied, but meanwhile, Promoter Jacobs holds the bag for $59,805 5C owed by Louis and $34,500 owed by Conn. That combination of $94,305 is a lot of money. and guaranteed by the writers committee.
 Until the committee guaranteed these obligations, Promoter Jacobs was holding the bag alone-a role he enjoys and a role that has made him the greatest of contemporary fight promoters, perhaps greater even than the late Tex Rickard.
 The big difference between the late Rickard and the current Jac- obs is this: Jacobs gambled with his own money, whereas R1cKaro gambled with the Madison Square Garden Corporations dough. In the final anaylsis, the answers are much different.
 In view of yesterdays announce ment, in the immediate question is this: How could Louis-as ser geant in the Army-amass debts o1 nearly $60,0O0 to Mike Jacobs and more than $41,000 to co-manageI Peterborough?
 Big Hearted Joe
 Well-in the first place-a heavy weight champion lives more freely than any athlete in any other divi- sion or branch of sports. Joltire g .Toe's standard of living would make Joe DiMaggio or Ted Williams oi the baseball field look like pikers Also, Louis bought about $22 0OC worth of boxing gloves and other equipment for his negro comrades at Camp Upton and at Ft. Riley Kas.
 Heavyweight Champion Louis is not broke. He has important in- vestments in Chicago and Detroit properties - but investments that yield him no income. But it must be remembered that in the two pre- ceding years of 194O and Al, Bomb CT Joe hammered out an income of at least one million per year-one- third of which he gave to his CO., managers.
 But neither Louis nor Conn have earned anything for themselves in 1922. Hence Jacobs still is the bank roll man - just as he has been through the years-since he en- tered the promotional field by back ing the Barney Ross-Billy Petrolle fight at the Bronx Coliseum in 1883 mine years ago.
 The bankroll man is all-important in modern boxing because current fighters and managers-with but rare exceptions - live as fast or faster than the money comes In And between bouts they must have money-money that comes from Uncle Mike, the bankroll guy.