Indiana daily times. [volume], December 21, 1920, Last Home Edition, Page 9, Image 9

About Indiana daily times. [volume] (Indianapolis [Ind.]) 1914-1922

Image provided by: Indiana State Library

                
■treet repair
■plans TAKEN UP
Bethods Used in Other Cities
W May Be Hoosier Basis.
HPl&ns for legislation for mettting the
Hsts of resurfacing and paring of
Rreeta are belDg -worked out by Repre-
Bntatlres J. L. Benedict and F. J. Noll.
H Marlon County, in connection with the
Municipal research committee of the In
■ianapolis Chamber of Commerce.
■ It was brought out at a meeting of the
■ommlttee that four standard practices
peem to prevail over the United States.
[The total cost of repaving or resurfacing
[ls paid entirely by the city in Boston,
[Baltimore. Detroit, Dallas, LoulsriUe,
pew York City. Norfolk, Mobile, Fitts
kirgh, Philadelphia Rochester and a
of other cities.
the other hand the total cost of the
is* paid by owners i-t abutting
in Indiannpolie, Chicago, Dn-
Grand Rapids. Kansas City, Los
Mlaneai Oak land. St. I.ouis
plan where the owners of abut
property pay two-thirds of the cost
the balance is paid by the city as
is followed in Buffalo Chatta-
Pooga, Savannah, and in a large number
of the smaller cities in New England.
The coat of Improvements Is split be
tween the property owners end the city
In Akron, Columbus, Ohio, Cincinnati,
Omaha and Binghamton.
This information was collected by Rob
ert E. Tracy, director of the emuniclpal
research at the Chamber of Commerce.
Out of 163 cities from which information
was collected, ninety-three assessed some
portion of the cost of repaving on the
property benefited, thirty-nine cities ss
aessed the entire cost, sixty assessed In
excess of two-thirds of the cost, and the
remainder assessed from 25 to 50 per
cent of the cost.
Seventy of the cities did not assess any
thing against abutting property for re
paving.
According to Mr. Tracy there are mod
ifications of the four plans in various
cities of the country. In Jersey City, for
instance, he says, if the repaving is done
by petition, requiring a different pave
ment, the owners of property pay one
third and the city two-thirds. Otherwise,
the city will pay the entire cost. In Salt
Lake City abutting property owners pay
SO per cent and the city pays 20 per cent.
In Cleveland the city pays 2 per cent and
the owners pay the balance. This same
plan is followed in Dayton.
2 Hurt in Rail Crash
FT. WORTH, Dec. 21.—An unidenti
fied woman passenger was killed and
Daniel H. Campbell, Chicago, seriously
injured Monday wbej a freight train
crashed into a St. Louis 4 San Fran
cisco passenger train at Cresson, Texas.
TWO GREAT CANALS.
The Suez canal, which was opened in
18®, is ninety miles long, while the
Panama canal Is but 505 miles In length.
It cost about $100,000,000 to construct the
Suez canal, while the cost of building
the Panama canal was aimost four times
that amount.
A Gift for Every Member of
the Family at CARLIN’S
Can you think of a more acceptable present than a
• fine musical instrument from Carlin’s? One of the
/ \ most complete displays of nationally known musical
\ instruments in the state. You can please any member
1 of the family with a gift from the following sugges-
VIOLINS —Good instruments for the beginner or
y professional, and a complete assortment of strings.
DRUMS AND TRAPS —AI Fitz outfits for the Jazz 1
artist and everything that goes with the bass and snare *
to complete a snappy drummer’s outfit—s6s and up. H^r
BANJOS AND BANJO MANDOLINS ...in give mueh
Lfi :/ —A fife to a party or make long winter evenings short. We
1 \ represent the famous Weymann stringed instruments.
jfir Banjos and mandolins, $lO, sls, $35 and hq.
PIANOS AND PLAYER PIANOS. During *ur many years of gj\ \
serving all Hoosierdom “with fine musical Instruments, we have V ■ iliS
never had a more complete display of pianos and player pianos. ~,Jr' fcffijjp
They make a gift that the entire family can enjoy—Ajoy "tfciTfriH
throughout the years. Choose, wisely—get a piano of known „L
---value and tone qualities. Get it at Carlin’s.
Jfj*, \ HOLTON AND GRAND RAPIDS CO'RNETS- If your
boy shows a musical inclination, start him on the best
, v . . • instrument. That’s a HOLTON* We have good books
s' \ of instruction and will help you to select the instru
/ f ment best suited for vour boy.
HOLTON CORNETS, SBS and $95
\ ~ GRAND RAPIDS CORNETS, S3O
Big sister or little sister would he pleased with one of juZl^N
our imported Hawaiian ukuleles, mellow-toned instru- '/A -
ments that furnish entertainment for evenings— ?4 I/SJ
Daily Demonstration in All Stringed
Instruments. Come and Enjoy Them.
srtf CASLffl^^& sic Co.
Open Until 9 o* Clock for Your Convenience
INDIANA’S MOST COMPLETE MUSIC STORE
Give Movies at Home
to Retain Servants
LONDON, Dec. 21.—Advertisements
for servants inr the Times today re
vealed that moving pictures have
been introduced in the homes of the
wealthy to keep the help contented.
Some rich Britons have built small
theaters in connection with their
homes and moving picture entertain
ments are given every evening for
the servants.
Pretty Shoplifters
Caught at Nashville
NASHVILLE. Terni, Dec. 21.- Among
others the police have to contend with
now are the Christmas shoplifters.
Two women, giving their names as Mrs.
William Kelley, 22, and Bertha Dunn, 23,
confessed to local detectives that they had
made thefts in a number of cities besides
Nashville. They were arrested here in
the act of taking a $l5O dress from a
local ladies' ready-to-wear store. One
of the girls said her heme was In Chi
cago. Both are pretty.
45.000 HOOSIER KIDS WORK.
Forty-five thousand or 3$ per cent of
the children of Indiana, between 14 and
16 years old, are working, according to
figures compile! by the department of
women end children of the Indiana in
dustrial board. There are 118,000 chil
dren in the State of this age.
Service and Satisfaction
fc&sO TRUSSES
if J ABDOMINAL SUPPORTERS, BRACES
FITTED BY EXPERT
Complete Line Sick Room Supplies
WE E ARMSTRONG CO.
34-WEST OHIO ST.
Office Furniture
We have one of the largest tS^eest - r —■■■■■■ naiß— ■
assortments of every style
t.esk needed for the office. Let
U3 help you In the proper so- ipm HEP>Ui ■JL*
lection. Fire and burglar proof l *
safes and vault doors. / I 1 ■’■■■■■ '
Bases for home or office. ® 0
FIXTURES FOR STORE, OFFICE AND BANK.
AETNA CABINET COMPANY
Display Rooms, 321-29 W. Maryland St., Indianapolis
FOUR FLOORS OF MUSIC
RUSSIAN PLANS
TO BE UNFOLDED
Directors of Vanderlip Syndi
cate to Hold Meeting.
LOS ANGELES, Dec. 21.—Directors of
the syndicates backing Washington D.
Vanderlip, local engineer, who has re
turned here from Russia, where he ob
tained a sixty-year lease on 400,000 square
miles in Siberia, and orders for $3,000,-
000,000 worth of goods to be purchased
in the United States for the Russian gov
ernment. are expected to meet with Van
derlip within the next few day*.
All of the directors are Los Angeles
business men. All stated they had no
connection with the enterprise beyond
financing Vanderlip’s trip to Russia. They
did not know whether capital to carry
out the engineer's development plans
could readily be realized.
Vanderlip said Russia has $600,000,000
in gold and platinum, besides more than
$50,000,000 in raw products to pay for
the first receipts of much-needed goods.
Deserter Caught
Special to The Times.
COLUMBUS, lud., Dec. 21.—Fred Mc-
Cullough, a deserter from the United
States Army at Camp Dlt, N. J., was
arrested here yesterday. McCullough,
who said that Ills home was In Browns
town, was hiding in a box car, attempt
ing to keep himself warm by a flrj in
a tin can at the time of his arrest. He
stated that he had been in the Army
fiva years, part of which time he had
served overseas.
INDIANA DAILY TIMES, TUESDAY, DECEMBER 21, 1920.
3 Food Places Out
of 550 Rated ‘E’
Only three establishments handling food
out of the 550 inspected during the
month by Inspectors of the State Food
and Drug Department, were graded ex
cellent, according to the report filed with
the State Board of Health.
One establishment, a grocery, was
rated "bad.” Four bakeries, one confec
tionery, two cream stations, five grocer
ies, four hotels and restaurants and two
tjuy now Grafonolas
Christmas. W// ' 1 on Easy
Easy Wj/ , Terms
"~// Act at Once \
Loin? Here Wednewlay
| Open Evenings |1
Somebody you know will appreciate this new model Grafonola for Christmas.
Give this wonderful Grafonola and open the doors to endless hours of entertain
ment and enjoyment. Choice now of finely finished mahogany, walnut and golden
oak. Christmas delivery absolutely guaranteed—but don’t wait.
Place Your Order Early
j
44 North Pennsylvania Street I
Indianapolis’ Only Exclusive Grafonola Shop
Try Widoner’s first for your Christmas Grafonola and Jf
if you new Columbia Records. service—no waiting.
Main 1287 Store of Better SerTice’ gHnßHiaMmK^^
The Stores Mutual Protective Association
INDIANAPOLIS
OFFERS A CASH REWARD OF
OneThousand Dollars
for the arrest and conviction of the thieves
who burglarized the Selig Dry Goods Cos.,
Indianapolis, Sunday, December 19th.
WARNING
S.
The Stores Mutual Protective Association, Indianapolis
wilt prosecute to the limit of the law every case of
robbery, shop lifting, passing of bad checks and
every other form of crime apprehended in the
stores of its members.
Its stores are under the closest supervision, and
arrests and prosecutions will follow every violator
of the law, irrespective of who they may be.
)
Knsi i: n
These Stores Are Members of '
ihe Stores Mutual Protective Association, Indianapolis
L. S. Ayres & Cos.
The Wm. H. Block Cos.
Baldwin Piano Cos.
The Fair Store
E. J. Gausepohl & Cos.
Goldstein Brothers.
Chas. L. Hartmann.
Paul H. Krauss Cos.
meat markets, were graded “poor;” 177
establishments were graded “fair” and
351 "good.”
The department in the past month
ordered 315 cans of corn and 957 cans of
tomatoes off the market because they
contained decomposed vegetable matter.
William Fielder, proprietor of meat
Protect the Children
Healthy Blood and a Healthy System
is a Child’s best protection against Colds,
Grip and Influenza. Give them GROVE'S
IRON TONIC SYRUP, 75c.—Advertise
ment.
E. O, Langen Cos.
Wm. Laurie Cos.
Lilly Hardware Cos.
Pettis Dry Goods Cos.
Marott Shoe Shop.
Chas. Mayer & Cos.
Peoples Outfitting Cos.
Selig Dry Goods Cos.
markets on East Washington street and
Massachusetts avenue, was fined $lO for
selling oleomargarine as pure country
butter. Fielder was fined by Justlte of
the Peace Isadore Wulfson.
THEATER being rebuilt.
SOUTH BEND, Ind., De 21.—Re
modeling of the Auditorium Cheater,
scene of $65,000 blaze, is now under way
and the structure will be reopened to
moving picture patrons next March.
Roomy aisles and. enlarged exits will be
provided and a special polfceman will be
on duty during show hours.
Star Store.
W. K. Stewart Cos.
L. Strauss & Cos.
Taylor Carpet Cos.
Vonnegnt Hardware Cos.
H. P. Wasson & Cos.
S. B. Whitman Cos.
Gas Rate Question
Why Should the Gas Company
Pay Dividends to Stockholders ?
We showed by our statement yesterday that the maximum which
this company could ever distribute to its present stockholders is
$200,000 per year. This is at the rate of 8.26% on the capital which
these stockholders have provided. It has been suggested that such
payments might be discontinued to the advantage of the community.
There are three reasons why such a policy should not be adopted:
1. THE MORAL REASON—Several thousand persons were in
duced to put their savings into the stock of the gas company in order
to secure for their community cheaper gas and to provide a public
utility that could not be exploited for the benefit of selfish private
interests. They agreed to the unusual limitation on the distribution
of profits, so that any profits in excess of a very moderate return on
their investment should be used to improve the facilities of the com
pany for serving th£ public or In reducing the price of gas, while
their property itself should eventually pass to the city.
From every moral or sentimental point of view it must be con
ceded that these people are entitled to dividends on their stock; and
the directors of the company will never withhold them when it is
reasonably possible to pay them.
2. THE LEGAL REABoN—While courts are always disposed to
sustain boards of directors in actions which appear to be reasonably
prudent, they could not be expected to sustain the directors of this
company in unreasonably withholding the limited dividends author
ized in the following clause which appears both in the franchise from
the city and in the articles of incorporation of the company:
“The earnings of said company shall be used in the following
order, to Wit: First, to the payment of matured debts and
operating expenses; second, to the payment semi-annually ot
said dividends of ten per centum per annum and any unpaid
accrued dividends; tnlrd, to such extensions and betterments as
may be ordered by the board of public works of said city;
and the excess to the payment In whole of partial payments
of the amounts subscribed.’ 1 (This last referring to extinguish
ment of capital stock, after which the property reverts to the
city.)
In view of their legal obligations the directors of the company
will never withhold dividends from the stockholders w r hen it is rea
sonably possibjp to pay them; and if they attempted" to do so a court
would doubtless mandate them or appoint a receiver to protect the
interests of the stockholders.
3. THE FINANCIAL REASON—Altogether aside from moral or
sentimental or legal considerations, the directors of the company
would consider it a grave financial mistake and an irreparable injury
to the community to default in the regular payment of the limited
dividends to which the stockholders are entitled. We invite the at
tention of the public to a few fundamentals of a sound financial
policy:
/
(a) The company should sell additional capital stock as soon as
conditions permit If it could sell stock at a premium which would
make the authorized dividends no greater return to capital
than that now made on existing stock (8.26%) this would be the
cheapest financing that any public utility could hope to Even a
tyro in finance could not honestly say that he would expect investors
to buy more stock of the company if dividends were discontinued on
stock now outstanding. f
Aside from economy in financing there Is safety in obtaining as
much capital as possible from the issuance of stock. The creation
of excessive fixed interest charges would be a menace to the security
of the company and to the Interests of the public. The present ratio
of bonded indebtedness to capital stock Is considered excessive, and
the future financial policy of the company must be directed to the
establishment of a better balance between the two classes of securi
ties. This cannot be done if investors become convinced that the
company would not continue to pay dividends.
(b) The company must also sell additional bonds as soon as
conditions permit. While it would be desirable to finance the re
quirements of the company wholly on Issues of stock, it Is recog
nized that this is not practicable. Bonds as well as stock must be
sold from time to time to provide the capital required by the con
stantly increasing demands for gas sendee. The suspension of divi
dends would make it even more difficult to sell bonds of any char
acter than it is at present
In some States where the bonds of the company are a legal in
vestment for savings banks and trustees they would cease to remain
so if dividends were not continued on the stock. This would cause
institutions which now hold large blocks of the 5% bonds of the
company to dump them on the market, thus making it still more dif
ficult to sell either those or any other bonds.
Aside from this result, the suspension of dividends would preju
dice investors against any bonds which the company might attempt
to sell. Many attractive bond issues are now being offered to the
public—most of them by corporations which show net earnings many
times the Interest charges on their bonds. At no time have investors
been willing to buy bonds unless the issuing company could show
earnings at least twice as great as its bond interest charges. This
company cannot expect to obtain new capital in the competition of
the money market unless it maintains at least this standard of earn
ings. If "earnings are maintained on this basis, it will always be
possible to pay dividends to the stockholders; and, as stated above,
if the dividends are earned they will be paid.
(b) Bolshevism would ignore the rights of capital and confiscate
capital already invested in industry. The American point of view,
which is wholly accepted by the directors of this company, not only
approves honest treatment to those who have already made invest
ments but believes that enlightened selfishness requires honesty and
fair treatment In order to secure the constantly increasing supplies
of capital which every progressive community requires.
The directors of this company will pay dividends to Its stock
holders as long as the earnings of the business make It possible to
do so.
This community cannot afford to force the company to discon
tinue dividends by refusal to pay a gas rate which will enable the
company to pay them.
Citizens Gas Company
Never mind vour age—as measured by years. How do yon
feel? That’s the thing that counts!
See this sprightly old gentleman coming toward you down
the street. Hi3 birth record would show you that he is past
seventy. But judging from the easy grace with which he
swings along, his errect carriage, his ruddy complexion, the
keen glance of his eye, his whole appearance the very picture
of health, you would say that he is not a day past fifty. He
is young in spite of his three score years and ten.
More frequently you see the opposite of his type. Men scarcely hi
their thirties—haggard, listless, weak, nervous—men who take no interest
in life, just dragging out a weary existence, all in, tired and worn out.
Though young in years, they are. nevertheless, old men. Their vital
forces are on the wane. They’ve lost their “punch” and “pep.” They
feel old—and they look it!
Stay young by keeping your body fit. Keep stomach, bowels, liver,
kidneys and bladder healthy and active. Build up your strength and health.
Nothing will accomplish these results better than
xjyKb ax
The Great General Tonic
Jn*i try “LYKO” when yon are feelfcig the least bit jaded. §3?*®?aßsi Hr I
tinri and wcm out. See for yourself how quickly it rejuven- HO MtejfepOT .riKEsj’ 9
! Mbs—what a fresh feeling of strength ar.d power is given - ji
/on. H’s a reliable appetizer, a splendid aid to digestion, be- w-“* {§
hides tends to strengthen and tone up the entire body. Hr ffgHrFlfflH ‘"SsEJ? B
Your druggist has *‘LYKO.’' Get a bottle today. Look A
tor the name on the package and accept no substitute.
LYKO MEDiaNEToMPANY s-yko u n.
Nw York v Kansas City, fyo. **“ Rafuss sli substitute*.
9